Today most organisation facing challenge for employee retention.
More and more talented employees are leaving the organisation causing heavy
burden to the organisation. It is necessary to examine the reasons why the
employees leave the organisation. The high competition in the business world
need talented employees to face the competition hence they offer high
remuneration for talented employees in other organisation to attract them which
creates tough time for organisations(Putra et al., n.d.).Organisation should examine, why the employees leave
the organization. It creates situation that organisations’ know-how and their secrets
go out of the organisation which effect greatly. Replacing these employees with
similar talent is sometime impossible task. The organisation has to spend money
and more effort needed to recruit and develop new comers.
EMPLOYEE RETENTION
Employee Retention defines as the ability to keep employees
in and organisation longer than your competitor(Khan, 2021).The organisation effort to keep desirable employee to achieve
the business objectives (Fatima, 2011)
As a result of economic growth severe
competition has beendeveloped in the business world. Due to
this competition and shortage of talented, skilled people, high employees turnover
arises because each organisation tries to recruit the talented employees in other
organisations.
REMEDIES FOR EMPLYEE
RETENTION
Khan (2021) suggested several measures for employee retention
* Impact
of Career Growth Opportunities on Employee Retention
Career development plans to be
systematic and well organised. The final output of the carrier development need
to meet the individual carrier needs as well as the workforce requirement. It
is a clear fact that if the organisation need to keep employees, the bond
between the employee and the company need to be strengthen. Career development mutually benefit both
parties. By exercising the career development, employees will be more skilful
and talented. Employees will be happy committed and loyal to the organisation.
At the end organisation could retain the skilful and talented employees who in
return quality and increased productivity is the outcome to the organisation.
*Impact
of Supervisor Support on Employee Retention
Supervisor can play a vital role for
employee retention. The good relationship between supervisor and the worker
creates strong attachment. This strong bond serves as the guardian for employee
retention. The supervisor act as a human face of the organisation. Employee
view of the organisation is powerfully influenced by the relationship with the
supervisor. When worker has a good relationship with the supervisor they never
think of leaving the organisation. Organization must prepare supervisors to
build healthy environment where employees like to stay.
*Impact
of Work Environment on Employee Retention
The environment factors contribute to
the behaviour of employees. If work environment suitable for workers, they are
happy and satisfied. The happy and satisfied workers enjoy their work. Their
commitments and loyalty is heightened. This the positive indication that
organisation work environment helps workers to retain happily. The other side
of the story is that if the given work environment does not fit to the worker
they will be unhappy and dissatisfied. They will start working slow, making
complaints poor commitment are the result of bad working environment.
Therefore, the responsibility of the organisation to provide healthy working
environment, if they want to retain their employees and get the maximum output
from them. Healthy working environment means happy worker who contribute
towards the success of the organisation.
*Impact
of Rewards on Employee Retention
The term ‘reward’ is that what gives
to the employees in return for their contribution and performance. Employee feel
happy that his achievement and commitment are valued by the organisation. Being
encouraged by the rewards employee tends to repeat the effort repeat the
performance again and again. Rewards are very essential for job satisfaction.
There is a direct link with the rewards and the employee’s happiness. If
employee perceive that given rewards are not sufficient employee will be unhappy.
Then they will leave the organisation for better place. Therefore, organisation
should have the good rewards system to make employees happy. Happy employees
will retain in the organisation.
Factors that affect to employee
Retention: (Fatima, 2011)
FACTORS AFFECTING EMPLOYEES RETENTION
Kaur ( 2017) discussed twelve
retention factors working towards the retention of employees .
* Skill
recognition
Employee’s skills are to be
recognised by the management. When employees’ skills are recognised they feel
that they are worth to the organisation. This is a very good retention
strategy. This strategy encourages employee’s growth, productivity and
teamwork, beyond the old-style compensation, and benefit packages offered by
employers.
* Learning
& Working Climate
Good working environment should be
facilitated for employees to learn while working. Providing learning and
development opportunity will help the retention of talented employees.
* Job
Flexibility
Job flexibility provide employees to
have work –life balance. This creates
the happy environment for employees. Employees will work hard to achieve the
given target so they enjoy with their family too. The importance of employment
flexibility such as scheduling work times, workloads, responsibilities, and
locations around family enhance the healthier balance between work and life.
Happy employee retains in the organisation.
* Cost
Effectiveness
Cost effectiveness occurs providing
job flexibility. This option benefit both employees and the organisation.
Saving of recruitments cost, commuting cost, work space cost, sick time,
absenteeism cost are benefits to the organisation. When workers are sick or
absent they have to compensate their work using job flexibility. Since
employees are happy to have the job flexibility they will retain without
complaints.
* Training
Employees are willing to obtain
latest skill and technical knowledge for their personal and professional
development. This leads to employee’s motivation. Motivated employees are asset
to the organisation. Training is a vital retention factor for employees at any
age.
* Benefits
Employee expect reasonable benefit
for their work. If benefits are up to their satisfaction they will retain with
the organisation and also contribute to the organisation success. The
organisation should provide satisfactory benefits to the employee if they need
to retain them.
*Career
Development
Career development is a main
motivation factor described by Herzberg in his two factor theory. Motivated
employees are good asset to the organisation. They are committed and loyal to
the organisation. Hence provision for carrier development is the duty of the
management then no need to warry about the employee retention.
*Superior-Subordinate
Relationship
Without support from the superiors no
employees’ development programme could be successful. Superiors are the people
who promote the organisation culture. Therefore,
superiors and subordinate must play important role during the employee
development programs. These employees’ development programmes will support the
employee retention.
*Compensation
It is not easy to promote perfect
compensation structure in an organisation. However, compensation programs need
to satisfy each and every employee in the organisation
otherwise employees will be
frustrated.
*Organizational
Commitment
Committed employee is an asset to the
organisation. They are loyal and develop positive attitude towards the company.
They have strong desire to work. They will remain with the organization for
longer periods of time.
* Communication
Employee expect openness and trust
from their management. Improved communication system which gives up to date information
may educate employee. The information flow should be vertical as well as
horizontal. Vertical flow of information should be top to bottom as well as
bottom to top. Good communication system makes employees happy and trust the
management. This is a good tool for employee retention.
*Employee
Motivation
Herzberg two factor theory is the
most suitable motivation system to an organisation Management need to asset
what type of motivation factor to be given to the employee. Employees are motivated
in two ways such as intrinsic motivation and extrinsic motivation.
CONCLUSION
Talented and skilful employees are the most important asset
to the organisation. Today economy is growing fast and business are booming.
Finding talented employee are the most difficult work for the organisation.
Another issue is to retain the talented and skilful employees. Therefore,
organisation should implement remedies to protect their employees. Competitive
organisation may hire the talented and skill full employee from their
competitive organisation by offering better remuneration. Organisation must
ensure their employees are happy and satisfied in order to retain them. Adopted
remedies should be able to keep employee happy and satisfied.
Fatima, H. (2011). Does
Employee retention affect Organizational Competence?1.
Igbinoba, E., Joel, O., Igbadumhe, F., & Peter, D. (2022). EMPLOYEES’
RETENTION STRATEGIES AND ORGANISATIONAL PERFORMANCE. 28(5).
Kaur, R. (2017). Employee Retention Models and Factors Affecting
Employees Retention in IT Companies. International Journal of Engineering,
7(1).
Khan, U. (2021). Effect of Employee Retention on Organizational
Performance. Journal of Entrepreneurship, Management, and Innovation, 2(1),
52–66. https://doi.org/10.52633/jemi.v2i1.47
Nasir, S. Z., & Mahmood, N. (2018). A Study of Effect of Employee
Retention on Organizational Competence. International Journal of Academic
Research in Business and Social Sciences, 8(4), Pages 408-415.
https://doi.org/10.6007/IJARBSS/v8-i4/4022
Putra, A. S., Afriani, D., & Gurning, L. (n.d.). EFFECT OF
EMPLOYEE RETENTION FACTORS ON ORGANIZATIONAL COMMITMENT. Journal of
Industrial Engineering.
Thanks for this employee retention article.I understand the difficulty of retaining people. To retain employees, the article suggests examining turnover causes. I agree that replacing competent workers is difficult because training new hires takes time and money.
The remedies given in the article were practical and helpful. Retention depends on career progression, supervisor support, work atmosphere, and rewards. Career development plans and opportunities can strengthen the employee-employer relationship, resulting in more skilled, committed, and loyal employees.
Finally, businesses should prioritize the twelve elements in the article that affect employee retention. Recognizing skills, providing training, and granting employment flexibility can make employees happier and more productive.
I will also say about one thing you are talking about. Although the employees from the company sometimes go to substitute companies to increase their salary, it is not permanent. How can it be said that in some cases it is difficult for them to wait. I thank you for not talking about these workers who are going to the wave.
Thank you for the insightful article. It provides a comprehensive overview of the importance of employee retention in today's competitive business world. You have effectively highlighted the various factors that contribute to employee retention, such as career growth opportunities, supervisor support, work environment, rewards, and benefits. It would be beneficial to include the potential negative consequences of failing to retain talented employees, such as decreased productivity, loss of institutional knowledge, and increased recruitment costs. Thank you!
INTRODUCTION Success of an organisation depends on the individual employees’ contribution. Improved soft skills of an employee are an important factor towards the success. Specially those organisation dealing with customer face to face make the organisation more successful. Present days most organisations pave the way to increase the soft skills of employees to achieve their objectives comfortably. For this reason, during the recruitment of employees’ soft skills are increasingly sought out by employers in addition to standard qualifications (Chand & Tipnis, 2016) . Today job market is very competitive. Finding candidate with technical skills are easy but employers objectives are to have a best contributor selected to the organisation. Therefore, in addition to the technical skill candidate must prove that they are having proper soft skill related to the job because the employers are more interested on soft skills of the candidate. (Zuma, 2020) Terminologies used to r
source: https://www.istockphoto.com INTRODUCTION Every employee has needs and expectations. These needs and expectations differ from employee to employee. Their expectation is to satisfy their needs. If these needs are not fulfilled, it makes dissatisfied employees. Having dissatisfied employee means organisation is unable to fulfil their objectives. Organisation face difficulty of addressing this situation. Employees will start complaints, protest grumble, criticism and objection all the time (Sukhdani, 2016) , Therefore, organisation should pave the way to employees to air their grievances. Grievances cause the negative impact on employees which may create hazardous situation on productivity. Organisation should establish grievances handling procedure and take immediate action to remove the sad feeling of employees. DEFINITION OF EMPLOYEES GRIEVANCES The feeling of dissatisfaction and injustice in relation with the work situation which need to be addressed by the managem
Source: https://www.istockphoto.com/ I NTRODUCTION The employees’ contribution to the success of an organisation as well as country economy is considerable. Therefore, organisation’s duty is to looked after the employees well-being which directly related to the job performance. The employees’ work-life balance to be maintained in order to get their contribution continuously. However most of the organisations’ employees suffer from depression and stress due to work related issues. (Bakar & Saputra, 2021) . THE WELL- BEING CONCEPT The well-being concept is combination of mental and physical health. There are three main parts in the well-being concept namely psychological well-being, subjective well-being, and Employee Well-being. Psychological well-being the advancement achieved by facing challenges such as reaching expected goals, development in life, establishing relation with others etc. Subjective well-being comprises pleasing sensitive experiences. Employee Well-bein
Comments
The remedies given in the article were practical and helpful. Retention depends on career progression, supervisor support, work atmosphere, and rewards. Career development plans and opportunities can strengthen the employee-employer relationship, resulting in more skilled, committed, and loyal employees.
Finally, businesses should prioritize the twelve elements in the article that affect employee retention. Recognizing skills, providing training, and granting employment flexibility can make employees happier and more productive.
It would be beneficial to include the potential negative consequences of failing to retain talented employees, such as decreased productivity, loss of institutional knowledge, and increased recruitment costs. Thank you!