17-09-2014, 04:53 PM
EMPLOYMENT RETENTION
EMPLOYMENT RETENTION.pptx (Size: 160.98 KB / Downloads: 14)
Introduction
The challenge is not only to attract the best talent but also to retain them.
“Employee retention is a process in which the employee are encouraged to retain with the organization for the maximum period of time or until the completion of project .”
Employment Retention Involves five major things
Compensation.
Environment.
Growth .
Relationship.
Support.
Environment
Environment is another factor which contributes to employee retention.
A motivated employee want to contribute to work areas outside of his specific job description
Relationship
sometime the relationship with the management and the peers become the reason for an employee to leave the organization.
The management is often not able to provide
an employee a supportive work culture and
environment in term of personal or professional relationship.
Support
Employee today are asking for a work place that helps them balance the demands of their work and family lives, rather than forcing them to choose one over the other Schemes like:-
special schemes for their children.
Scholarships.
medical benefits.
training etc.
What makes Employee leave ?
Bored and unchallenged by the work itself.
Organization’s financial stability
No growth opportunities.
Lack of appreciation.
New job offer .
compensation .
Lack of team work
Lack of motivation
Poor management
Poor communications
Conclusions
There are so many tactics and strategies used in retention of employees by the organization.
The basic purpose of these strategies is to increase employee morale hence achieve retention