Employee turnover/retention is not something new for business
organizations. However, it has not been actively discussed or even
understood by employers. Researchers and business experts has done a lot
of work on this subject but yet ever evolving business environment
makes it more demanding issue. Individual attitude towards job
satisfaction is the most important and sensitive variable in determining
employee turnover. The fundamentals of employee retention may include
competitive salary, benefits, recognition, on job training, growth
opportunities etc but retention of the high performing or best ones
required even more.
Employee retention can be seen as employers own choice strategy and
retention techniques. Employee retention is strongly linked with the
work environment in which employees undertake their responsibilities or
duties. Helpful and liberated environment is no doubt is first step to
wards effective employee retention. Creating a culture where people can
express themselves and can associate themselves with the organization
would make quitting a difficult decision for them.
Effective retention polices needs to be updated as often as possible
because it has to be adequately equipped to respond to ever changing
labour market. It is very important for an organisation particularly in
today’s competitive business world to retain its highly skilled and top
performing employees. High employee turnover can be very expensive or
may result in waste of precious resources of the organization but also
undermines organisation performance in achieving its goals and targets.
Hence, keeping employee turnover within acceptable limits but also
improving organisational performance in terms of productivity and
customer satisfaction.
The project is worked based on the open-ended responses taken from the employees. The study majorly focuses on the increasing employee turnover, its causes and impact. It looks at various methods to improve employee retention in the organization.
The project is worked based on the open-ended responses taken from the employees. The study majorly focuses on the increasing employee turnover, its causes and impact. It looks at various methods to improve employee retention in the organization.