Employee Retention

 

What is Employee Retention?


                                                                                                              Source : market-bridge.com (2021)

Employee retention is the organizational goal of keeping talented employees and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, and providing competitive pay and benefits and healthy work life balance.

Employers are particularly interested in retaining employees during periods of low unemployment and heightened competition for talent. (Prachi Juneja 2015)

To retain employees, organizations use human resources technology for recruiting, onboarding, engaging and recognizing workers and offer more work flexibility and modern benefits like physical and financial wellness programs. 

Employee retention has become a major concern for corporates in the current scenario. Individual once being trained have a tendency to move to other organizations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. (Shaun Shutner 2018)

Whenever a talented employee expresses his willingness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision.

Therefore, organizations should be able to retain their best talented employees and to maintain a lower turnover in order to accomplish their Vision & Mission.



                                                                                              Source : img1.blogblog.com (2017)


References 

Prachi Juneja (2015) employee-retention (Online) Available at www.managementstudyguide.com/. Accessed on 28th April 2021.

Shaun Shutner (2018) employee retention (Online) Available at https://searchhrsoftware.techtarget.com/definition/employee-retention. Accessed on 28th April 2021.


Comments

  1. UnknownMay 24, 2021 at 8:19 PM

    It's true.. Retention plays a pivotal role in sustainability of a business. When people are satisfied and taken care the retention would be high. Otherwise turnover will impact continuity of business

    ReplyDelete
    Replies
    1. NadeeshMay 24, 2021 at 10:06 PM

      With the high retention of employee, brand image of the company would too improved

      Delete
  2. Dilki kawshika 0529May 24, 2021 at 9:21 PM

    very clear clarification about employee retention & good video clip.

    ReplyDelete
  3. Nipuna Maduranga SamarakoonMay 24, 2021 at 10:06 PM

    very clear clarification and Useful facts. thank you for posting valuable information

    ReplyDelete
  4. Subhani's BlogMay 25, 2021 at 12:23 AM

    It’s very educative and comprehensive, which will help the beginners and all HR practitioners.

    ReplyDelete
  5. IndikaMay 25, 2021 at 4:27 AM

    Really an interesting blog I have gone through. There are excellent details you posted here.

    ReplyDelete
  6. ArunaMay 25, 2021 at 5:06 AM

    Though employee retention is identified as a responsibility of HR department, supervisors at all level have a major part in hands-on practical application. I have seen many torture their subordinates to the extent of leaving the organization, without knowing how much have their organization spent on that employee even for his recruitment. What If he employed by a rival?

    ReplyDelete
    Replies
    1. NadeeshMay 25, 2021 at 8:39 AM

      Yes, leaving of skilled employees from an organisation is a great loss to it. Because, they will have to bear an additional cost to train new recruiters

      Delete
  7. AlbaMay 25, 2021 at 5:18 AM

    The challenge of retaining good employees is currently paramount. Article explains this well. Very concisely written.

    ReplyDelete
    Replies
    1. NadeeshMay 25, 2021 at 8:40 AM

      It's a duty and an obligation of HR managers

      Delete
  8. AmilaMay 25, 2021 at 6:15 AM

    The very timey topic which has become more challenging in the current cooperate world with the arrival of Gen Z. The cooperate leaders have to challenge themselves and reevaluate their HR strategies considering the generational differences.

    ReplyDelete
    Replies
    1. NadeeshMay 25, 2021 at 8:44 AM

      Yes, Amila management have to change their stratergies time to time and generation to generation to retain their valued employees

      Delete
  9. HRMMay 25, 2021 at 10:53 AM

    Retaining an employee in the company increases the productivity of the company. we do not get the productivity we expect from a trained employee.. thanks for sharing information.

    ReplyDelete
  10. Saman JayasundaraMay 26, 2021 at 7:46 AM

    Employee turnover is a normal part of any business - people naturally come and go. However, retention should ideally remain at a baseline rate that is consistent with your industry, role and organization.

    ReplyDelete
  11. Dinesha SenevirathnaMay 26, 2021 at 12:09 PM

    Employee retention is severe challenge faced by many organisations. With rising opportunities, there are much more tendency in leaving for better options. Successful organisation would apply many strategies on this important aspect.

    ReplyDelete
    Replies
    1. NadeeshMay 26, 2021 at 6:43 PM

      Management have to change their strategies time to time

      Delete
  12. GeethikaMay 27, 2021 at 9:19 AM

    Employee retention is the main focus area of the company's HR department.

    ReplyDelete
  13. GeethikaMay 27, 2021 at 10:06 AM

    Organizations will retain talented and motivated employees who truly want to be a part of the company and who are focused on contributing to the organization's overall success

    ReplyDelete
  14. Thusitha WarnakulasooriyaMay 27, 2021 at 10:51 AM

    The employees with high skill level are tend to be offered and acquired by the competitors hence compensate and retention of those people are benefited.how ever the environment that select people sintifically and the failing of such selection is a problem to address

    ReplyDelete
  15. SUNETH GAMLATHMay 28, 2021 at 2:33 AM

    Consider employee retention as relating to the efforts by which employers attempt to retain the employees in their workforce

    ReplyDelete

Post a Comment

Popular posts from this blog

Information Technology in Human Resources

Image
                                                                                                      Source : image.slidesharecdn.com (2013) HR technology can improve the management of HR and so contribute to the organization’s competitive advantage. It is now established that the benefits of the use of technology far outweigh the benefits of just engaging in traditional practices of HR. For example, software companies like Microsoft, Satyam Computers and Infosys have been performing most of their HR management (HRM) online. Technology has increased and access made readily available of HR information; improved communication; improved the speed at which HRM transactions and information are gathered; and reduced costs making it easier to administer HRM functions, such as recruitment, training, and performance management.   Survey evidence showed that firms using technology, and especially information technology, are listed in the Fortune 500 firms. The majority of these firms have i
Read more

Why Employee Benefits are Important?

Image
                                                                                                Source : hrdailyadvisor.blr.com (2018) In modern world concept it is important to handed employee benefits since employees not only consider over the salary consideration. But is also understood that there are prominent need of potential employee of company on the address of benefits in non-monitory aspects as well inclusive of health care facilities, working hour facilities, office environment etc... Following are discussed about reasons of offering employee benefits:                                                                                                                 Source : socialchorus.com (2018)  Increased Engagement What company doesn’t want employees who are highly engaged? Highly engaged employees are happier, more productive and more likely to become brand ambassadors. Numerous studies have shown the connection between employee benefits and engagement. Benify conducte
Read more

How to Recognize Your Employees

Image
                                                                                                              Source: www.incimages.com (2020) Briefing of Employee Recognition Employee recognition is the acknowledgement of a company's staff for exemplary performance. Essentially, the goal of employee recognition in the workplace is to reinforce particular behaviors, practices or activities that result in better performance and positive business results. (Nikos Andriotis 2018) Why is employee recognition that important?   Recognition helps employees see that their company values then and their contributions to the success of their team and the company overall. This is particularly key when organizations grow or change. It helps employees build a sense of security in their value to the company, motivating them to continue great work. It stabilize the work place. It increases productivity. It improves team culture. It engenders trust between managers and employees. It lowers the emplo
Read more