Table of Contents TOPIC: Significance of employee retention and impact on same organisational performance. ................................................................................................................................................1 CHAPTER 1: INTRODUCTION....................................................................................................1 1.1 Formulate and record possible research project outline specifications............................1 1.2 Factors that contribute to the process of research project selection.................................2 1.4 Produce a research project specification..........................................................................2 1.5 Provide an appropriate plan and procedures for the agreed research specification.........3 CHAPTER 2: LITERATURE REVIEW.........................................................................................4 1.3 Critical review of Key References based on the Literature Review................................4 CHAPTER 3: RESEARCH METHODOLOGY.............................................................................7 2.1 Resources efficiently to the research question or hypothesis...........................................7 2.2Proposedresearchinvestigationinaccordancewiththeagreedspecificationand procedures...............................................................................................................................9 CHAPTER 4: DATA FINDINGS, ANALYSIS AND DISCUSSION........................................12 2.3 Record and collate relevant data where appropriate.......................................................12 3.1Use appropriate research evaluation techniques..............................................................23 3.2 Interpret and analyse the results in terms of the original research specification............23 CHAPTER 4: CONCLUSION, RECOMMENDATIONS AND ANTICIPATED LIMITATIONS ........................................................................................................................................................24 3.3 Make recommendations and justify areas for further consideration..............................24 CONCLUSION..............................................................................................................................24 REFERENCES.............................................................................................................................25
TOPIC: Significance of employee retention and impact onsameorganisational performance. CHAPTER 1: INTRODUCTION 1.1Formulate and record possible research project outline specifications Introduction Employee retention is explained as an ability of company to sustain its staff. It is related to different practices and policies which let staff members stick to company for long time period. The main objective of an organization is to keep talented staff and minimizing turnover through fostering positive working environment in order to promote engagement, providing competitive benefits, appreciation to staff members and give them healthy work- life balance. In addition to this,employersaremainlyinterestinsustainingthestaffmembersatthetimeoflow employment as well as heightened the competition for talent. To retain the staff, company use human resource technology for hiring, on boarding, recognizing the employees and provide them benefits such as financial and physical wellness programs. Background of research Employee retention refers to process under which staff members are encouraged to remain within company for long time period. Retention strategies aids an organization to give betteremployeecommunicationtomakeimprovementincommitmentandalsoincrease workforce support for corporate initiatives (Aguenza and Som, 2018.). The employee retention is necessary for developing productive, committed and healthy workforce. In order to retain the staff members, there is a need to employer to enhance motivation of employees and provide them healthy working environment in a better way. Hilton is American multinational hospitality firm that manage as well as franchise wide portfolio of resorts and hotels. The management of Hilton hotel deal and communicate with its employee in positive manner so that they can be motivated. They provide training to employees to enhance their knowledge and core competencies so that they can be able to perform in better manner. It develops positive impact on performance level of Hilton hotel. Statement of research problem This research is based on the significance of employee retention and its impact over the performance of an organization. Employee retention is wider area concept and it is related to sustain employees for long period of time at workplace. The organization face some challenges 1
to retain its talented and valuable staff. To determine the retention related issues, this research needs to be conducted in proper manner. On the other hand, while conducting an investigation, time and cost related issues are faced through researcher. Scope of research Thisresearchisconductedtoanalysesimportanceofemployeeretentioninan organization and its main impact on organizational performance. This study generate interest from broader perspective of the employee retention and its effect on level of Hiltonhotel. Research Aim “To determine the significance of employee retention and its impact over theperformance of an organization” A study on Hilton Hotel. Research Objectives To analyse concept of employee retention. To determine different factors that improve employee retention within Hilton hotel. To examine significance of employee retention on performance of Hilton hotel. 1.2 Factors that contribute to the process of research project selection Rationale for topic selection Research is very much important for an organisation to deal in effective manner to deal in positive way to get desirable outcomes(Ahammadand et. al., 2016). To conduct that research organisation to reap out the results regarding importance of employee retention and their importance in organisational goals and objectives to remain always competitive in marketplace. So research is very much important to give best products and services to ultimate employees so that it can give their best to reach at desirable goals and objectives. 1.4 Produce a research project specification Research Questions What is employee retention? What are the different factors that develop employee retention within Hilton hotel? What is significance of employee retention on performance of Hilton hotel? 1.5 Provide an appropriate plan and procedures for the agreed research specification WeekWeekWeekWeekWeekWeekWeekWeekWeek 2
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123456789 Introductio n Literature review Research methodolo gy Data collection, Analysis & Interpretati on Conclusion 3
CHAPTER 2: LITERATURE REVIEW Literature review refers to comprehensive summary to past investigation on topic. It is written overview of the main writings and some of the other sources on chosen topic. It gives proper explanation, summary as well as evaluation of the each sources. This part of research has been conducted through using secondary sources for an instance books, journals, articles and internet sources. 1.3 Critical review of Key References based on the Literature Review Concept of employee retention As per opinion of E.M. Rawes, (2019) it has been stated that employee retention is overall ability or strategy of company to sustain its trained employees and maintain lower turnover. Firm is able to attain this through adopting different employee retention related programs. It is one of main focus of human resource functions. Under this, company give the efforts to maintain working environment that support current staff within an organization. It is an act of keeping the staff members. The employee retention consists systematic effort through a company to develop environment that address requirements of employees so that they can stay for long period of time. Every company spend more on attracting best talent. Staff contribute towards success of firm and these contributions impact directly bottom line of business. Employees which stay within firm for long time period contribute effectively and they are the internal part of an organization. Each company needs stable and efficient human resourced to work in an effective manner (Aruna and Anitha,2015). In context to assure stability of workforce, there is a need to top management to certain the measures which will make workplace attractive and pleasing. On the other hand, working situation impact on retention of employees. If the working environment of an organization will not be positive, then there will be negative impact developed on people and they will not sustain at workplace. So, it is necessary for management to focus on providing the positive working environment to employees and enhance their motivational level. Different factors through which employee retention can be improved within Hilton hotel As per viewpoint of Gretchen Smitson (2019), employee retention is systematic effort through managers to encourage current staff to sustain at the workplace for long period of time.. 4
It is effort through Hilton hotel can maintain working environment that support present staff in remaining with firm. There are some of the different factors which affect employee retention: Training- It is one of the most significant way to enhance moral of employees. Company provide training to employees so that their skills and knowledge can be enhanced in proper manner and they can able to perform effectively. Training is main key retention factors for the staff members. The manager of Hilton hotel provide training to employees so that their capabilities can be enhanced. It helps in increasing performance level of employees and they will sustain for long period of time at workplace. Career development-It is a main part of employee development program. In this, employees not only feel that employer investing on them but aids to manage people in many different aspects . Job flexibility with embracing career is necessary incentive for all the staff members. The career development helps in motivate employees and provide them job securities in better manner. Communication-Positive communication helps in improve the employee identification and develop trust culture. Communication is an effective way to develop relationship among employer and employees. Management of Hilton hotel communicate with employees, listen their issues and find out appropriate solutions. It helps in enhance their motivational level in significant way and they will retain at workplace for long period of time. Significance of employee retention on performance of Hilton hotel As per view point of Ankur Tandon, (2019) retention of motivated and positive employee is necessary for success of business. High turnover enhance expenses and develop negative affect on morale of a company. In context to this, Hilton hotel execute the employee retention program to assure that important employees are remain employees while maintaining as well as balancing the performance level and productivity. The employee retention develops positive impact on performance of Hilton hotel. There are some significances of employee’s retention on Hilton performance mention below: Enhance morale-Motivation is a necessary factor that helps in enhance morale of employees towards attaining goals. The management of Hilton hotel needs to develop positive relation with its employees and provide the positive working environment. It will help in retain employees at workplace for long time period and performance of hotel will be positively impacted. 5
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Performance and Productivity Maintenance-Under this, employee retention practices helpful in support productivity of business. In this manner, employee retention is helpful in maintaining the performance as well as productivity of Hilton hotel. 6
CHAPTER 3: RESEARCH METHODOLOGY 2.1 Resources efficiently to the research question or hypothesis Research Methodology: Research methodology is a systematic set of activities for conducting research. Sociologist conduct various kinds of research in which quantitative and qualitative are very much important.There are some important parts that come under the researcher methodology and plays very important role in achieving organisational goals and objectives that are as follows: Research design: It is considered one of most important part of research methodology and it is a kind of systematic and scientific analysis perform through the finding some most important elements to get effective results in proper way (Cascio, 2014.). Research design is a continuous process that helps to reap out important results in organisational growth and enhancement. It executes in two ways that are explanatory and evaluation kind of research. In that research descriptive kind of research should be conducted. Research approach: Research approach is one of most important part of organisation to get fruitful outcomes while conducting research and analysis to reap out important outcomes in positive way. Research approach in which consist of several steps that are process analysis, collection of data and statistics and many more concerned about it. It divides into two parts that are collection of data and reasoning of it. Data collection: There are two kinds of data collection which consist of primary and secondary kind of research that are as follows; Primary research: This is one of most important kind of research in which data and information is totally new and current. That kind of research should be conduct independently and helps in reap out important results in positive way. With help of this research techniques organisation can be directly communicate with the participants at any public places such as market, cafes and other places to deal in effective manner. In primary research various kinds of methods used that are 7
interview, questionnaire and face to face information collection etc.. in that report with help of questionnaire data should be collected. Secondary research: It is an opposite side of primary research in which knowledge and information should be collected on basis of information that already available in market and reap out important results out of it so that necessary results can be achieve by organisation. With help of secondary research organisation can deal in effective manner and it is cheap source to conduct in proper way. The main advantage of this research that it easily done in less time with less cost to reach at desirable goals and objectives in proper way. In sources of secondary research consist of knowledge and information from papers, articles and other sources that helps in evaluating greater results in particular research. Quantitative:Thisrefersastheinvestigationwhichismorefocusedtowards accumulating and examining to determine data as well as generalize results from the sample of population. It may be gathered through various manner such as surveys, observation and so on. In this form of research data can be accumulated as well as evaluated into numerical form like percentages, statistical and many more (Mahal, 2012). The aim of this research is to ascertain problems by generating numerical information which can be transformed into fundamental statistics. Also, it is utilised to gather data such as attitudes, opinions to generalise results within large sample population. Qualitative: This is considered as the research which is used to gather and measure data in depth. It is the process to collect non numeric information which cannot represent and measure in statistical form. This research is more concerned in acquiring more informative investigation. Method for collecting this particular research are direct observation, content analysis and so on. It is conducted with the intent to know about underlying perceptions, reasons and many more. In that research qualitative research should be conducted by researcher to get important results and insights for proper results. Sampling: Sampling is one of most important aspect for an organisation to deal in effective manner by collecting data and information in proper manner. Sample is a process to choose randomly from large no. of people by using various tools and techniques. It proved helpful in solving complex problems by saving time and cost in effective manner. Lots of methods and techniques 8
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are very much crucial for organisation to deal with dynamic environment by voluntary sampling, quota sampling and other factors. Various kinds of sampling techniques help in evaluation of results in effective manner. Sample size: Sample size is a act to choose no. of various observations in a statistical sample (Mohlala, Goldmanand Goosen, 2012.).The sample size potential for reap out important results and insights in organisational growth and enhancement. The sample size for that report is 30 respondents. Questionnaire: Questionnaire is one of most important aspect for an organisation to gather important knowledge and information by asking relevant questions from respondents. In context of organisation it is very much potential to know the reply of people that they understand about employee retention and their importance in organisational growth and enhancement. 2.2 Proposed research investigation in accordance with the agreed specification and procedures QUESTIONNAIRE Name: Age: Gender: Contact no.: Q1) Do you have knowledge about employee retention? a) Yes b) No Q2) Does employee retention develops positive impact on performance of company? a) Yes b) No Q3) What is the importance of employee retention on overall performance of Hilton Hotel? a) Cost effective b) Enhance motivation c) Increase productivity 9
Q4) What are the different factors which impact employee retention within Hilton hotel? a) Working environment b) Employee motivation c) Training Q5) What are the different employee retention strategies Hilton hotel can use to sustain employee for long time period? a) Job securities b) Management support c) Rewards and recognition Q6) What are the different ways to improve employee retention in an organisation? a) Employee compensation b) Training and development c) Work- life balance Q7) What are the motivation techniques used by company for retaining employees long period of time? a) Communicate positively b) Train and Mentor c) Be transparent Q8)Doesmotivatedemployeeshelpanorganisationbyincreasingitssalesand profitability? a) Yes b) No Q9) What are the various retention tools Hilton can use for employee retention? a) Employee surveys b) Exit interviews c) Employee retention consultants Q10)Whatisthenegativeimpactofpooremployeeretentiononorganisational performance? a) Loss of company knowledge b) Regaining efficiency c) Reduce productivity 10
Q11) Recommend some ways through which company can gain competitive advantage at marketplace. 11
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CHAPTER 4:DATA FINDINGS, ANALYSIS AND DISCUSSION 2.3Record and collate relevant data where appropriate DATA SHEET Q1) Do you have knowledge about employee retention?Frequency a) Yes26 b) No4 Q2)Doesemployeeretentiondevelopspositiveimpacton performance of company? Frequency a) Yes22 b) No8 Q3) What is the importance of employee retention on overall performance of Hilton Hotel? Frequency a) Cost effective7 b) Enhance motivation12 c) Increase productivity11 Q4)Whatarethedifferentfactorswhichimpactemployee retention within Hilton hotel? Frequency a) Working environment10 b) Employee motivation6 c) Training14 Q5) What are the different employee retention strategies Hilton hotel can use to sustain employee for long time period? Frequency a) Job securities8 b) Management support10 c) Rewards and recognition12 12
Q6) What are the different ways to improve employee retention in an organisation? Frequency a) Employee compensation15 b) Training and development7 c) Work- life balance8 Q7) What are the motivation techniques used by company for retaining employees long long period of time? Frequency a) Communicate positively10 b) Train and Mentor6 c) Be transparent14 Q8) Does motivated employees help an organisation by increasing its sales and profitability? Frequency a) Yes18 b) No12 Q9)WhatarethevariousretentiontoolsHiltoncanusefor employee retention? Frequency a) Employee surveys13 b) Exit interviews10 c) Employee retention consultants7 Q10) What is the negative impact of poor employee retention on organisational performance? Frequency a) Loss of company knowledge9 b) Regaining efficiency5 c) Reduce productivity16 13
THEME 1: Knowledge about employee retention Q1) Do you have knowledge about employee retention?Frequency a) Yes26 b) No4 Interpretation:From the above graph, it has been interpreted that there are 26 respondents which aware about employee retention concept in better way. 4 respondents do not have knowledge about it. THEME 2: Employee retention develops positive impact on performance of company Q2)Doesemployeeretentiondevelopspositiveimpacton performance of company? Frequency a) Yes22 b) No8 14 a) Yesb) No 0 5 10 15 20 25 3026 4 Column B
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Interpretation:On the basis of opinion of 22 respondents that employee retention develops the positive affect on performance level of company as employees enhance motivation level of staff On the other hand, there are 8 respondents which disagree with this. THEME 3: Importance of employee retention on overall performance Q3) What is the importance of employee retention on overall performance of Hilton Hotel? Frequency a) Cost effective7 b) Enhance motivation12 c) Increase productivity11 15 a) Yesb) No 0 5 10 15 20 2522 8 Column B
Interpretation:The retention of employee at workplace develop positive impact on business. There are 7 respondents which said that main importance of employee retention is to cost effective because from the employee retention, company can get benefited. 12 respondents said that employee retention helps in enhance motivational level of employees and they will work towardsattainingsetobjectives.Thereare11respondentsandaccordingtothemmain importance of employee retention is to increase performance and productivity of business at marketplace. THEME 4: Factors which impact employee retention within Hilton hotel Q4)Whatarethedifferentfactorswhichimpactemployee retention within Hilton hotel? Frequency a) Working environment10 b) Employee motivation6 c) Training14 16 a) Cost effectiveb) Enhance motivationc) Increase productivity 0 2 4 6 8 10 12 7 12 11 Column B
Interpretation:The employee retention gets impacted through various factors. According to 10 respondents that working environment is a main factor because if company will develop the positive working environment at workplace then it will impact positively. On the basis of 6 respondent’semployee motivationismainfactor becausemotivatedemployeesfocuson attaining the set goal of company. 14 respondents said that training helps in enhance skills and employees and through this factor they retain in company for long time. THEME 5: Various employee retention strategies Hilton hotel can use to sustain employee Q5) What are the various employee retention strategies Hilton hotel can use to sustain employee for long time period? Frequency a) Job securities8 b) Management support10 c) Rewards and recognition12 17 a) Working environment b) Employee motivation c) Training 0 2 4 6 8 10 12 14 10 6 14 Column B
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Interpretation:Hilton hotel is a large brand name and for sustain employees, it uses different retention strategies. There are 8 respondents which said that job security is main strategies to retain employees. If the job of employee will be secure then it can work effectively. According to 10 respondent’s management support is necessary in performing the activities. There are 12 respondents and according to them rewards and recognition is an effective employee retention strategy to retain staff. THEME 6: Different ways to improve employee retention in an organisation Q6) What are the different ways to improve employee retention in an organisation? Frequency a) Employee compensation15 b) Training and development7 c) Work- life balance8 18 a) Job securities b) Management support c) Rewards and recognition 0 2 4 6 8 10 12 8 10 12 Column B
Interpretation:The company should find effective ways to make improvement in employee retention within workplace. There are 15 respondents which said that employee compensation helps in retaining employee as company offer an attractive compensation packages such as health benefits, salaries, bonus etc. There are 7 respondents and they said that training and development program isbeneficial because it helps in increase knowledge and skills of employees. 8 respondents are agreeing with work- life balance. THEME 7: Motivation techniques used by company for retaining employees Q7) What are the motivation techniques used by company for retaining employees long long period of time? Frequency a) Communicate positively10 b) Train and Mentor6 c) Be transparent14 19 a) Employee compensation b) Training and development c) Work- life balance 0 2 4 6 8 10 12 14 1615 7 8 Column B
Interpretation:Motivation helps in enhance performance level and productivity of employees. 10 respondents said that employer should communicate with its staff in positive manner so that they can motivated. According to 6 respondents that train and mentor is significant motivation techniques to retain employees. There are 14 respondents which said that management should be transparent and share the opinions with employees to motivate them. THEME8:Motivatedemployeeshelpanorganisationbyincreasingitssalesand profitability Q8) Does motivated employees help an organisation by increasing its sales and profitability? Frequency a) Yes18 b) No12 20 a) Communicate positively b) Train and Mentor c) Be transparent 0 2 4 6 8 10 12 14 10 6 14 Column B
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Interpretation:Motivation is an effective way to sustain employees for long time period. There are 18 respondents said that motivated employees focus on complete the given task and attain set objectives within set time period. It will help in enhance sales and profitability of business. There are 12 respondents which disagree with this. THEME 9: Various retention tools Hilton can use for employee retention Q9)WhatarethevariousretentiontoolsHiltoncanusefor employee retention ? Frequency a) Employee surveys13 b) Exit interviews10 c) Employee retention consultants7 21 a) Yesb) No 0 2 4 6 8 10 12 14 16 18 18 12 Column B
Interpretation:Hilton hotel use different retention tools to retain employees at workplace. According to 13 respondents that by conduct the employee surveys, company can gain an insight into satisfaction and motivation of employees. 10 respondents are agreeing with exist interviews because it allow company to understand triggers of desire of employees to leave and aspect of work. 7 respondents said that employee retention consultant can aid company in process of sustaining staff members. They can provide suggestions to determine problems. THEME 10: Negative impact of poor employee retention on organisational performance? Q10) What is the negative impact of poor employee retention on organisational performance? Frequency a) Loss of company knowledge9 b) Regaining efficiency5 c) Reduce productivity16 22 a) Employee surveys b) Exit interviews c) Employee retention consultants 0 2 4 6 8 10 12 1413 10 7 Column B
Interpretation:The poor employee retention develop negative impact on performance of company. According to 9 respondents that loss of company knowledge will be impact because when employees leave then they take valuable knowledge regarding customers and company with them. 5 respondents are agree with regaining efficiency. In this, when employee resigns then time is lost in recruiting new employee and provide them training. There are 16 respondents which said that poor employee retention will impact on minimize productivity of company. 3.1Use appropriate research evaluation techniques While conducting that research organisation have to meet with standards that set by an organisation before conducting research and development. People makes mistake that they not give reliableinformation that delivered by them that hinders self interest of an organisation to get desirable outcomes. 3.2Interpret and analyse the results in terms of the original research specification This research is based on the retention of employees and its impact on performance level of company. Retention of employees helpful in reduce the turnover of business. The main importance of conducting this project is to know about the importance and benefits that company gained through employee retention at workplace. It helps in provide the proper understanding as well as knowledge regarding specific area. 23 a) Loss of company knowledge b) Regaining efficiency c) Reduce productivity 0 2 4 6 8 10 12 14 16 9 5 16 Column B
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CHAPTER 4: CONCLUSION, RECOMMENDATIONS AND ANTICIPATED LIMITATIONS 3.3 Make recommendations and justify areas for further consideration. From the above research report it has been recommended that organisation have to select right kind of samples so that desirable results should be accomplish in context of organisation. Organisation have to choose kinds of sampling techniques so that they can be able to collect reliable sources and information in context of organisation. So organisation have to bring effectiveness in their works and procedures so that right kind of outcome can be obtained from rightsources.Foranorganisationemployeesretentionisverymuchimportantsothat organisation have to as per needs of them select best candidates and apply various motivational forces to retain them. Reflection From the research report it has been summarised that at time of conducting research I be learn lots of things and knowledge that proved helpful for me to understand importance of employees. Some problems or issues also faced by me while collecting data and information from respondents that they are not properly communicate. With lack of resources while collecting right kind of information at time of conducting research that it hinders self interest of objective behind conducting research in proper manner. CONCLUSION From the above report it has been summarised that organisation have to always take care of their human resource as it is one of most precious assets of an organisation. It helps to reach at organisational goals and objectives in proper way. With help of employee retention organisation can gain competitive advantage that are very much important for an organisation to reach at desirable outcomes in positive way. 24
REFERENCES Books and journals: Aguenza,B.B.andSom,A.P.M.,2018.Motivationalfactorsofemployeeretentionand engagement in organizations.IJAME. Ahammad,M.F.,andet.al.,2016.Knowledgetransferandcross-borderacquisition performance: The impact of cultural distance and employee retention.International business review. 25(1). pp.66-75. Aruna, M. and Anitha, J., 2015. Employee retention enablers: Generation Y employees.SCMS Journal of Indian Management. 12(3). p.94. Cascio, W.F., 2014. Leveraging employer branding, performance management and human resource development to enhance employee retention. Mahal, P.K., 2012. HR practices as determinants of organizational commitment and employee retention.IUP Journal of Management Research.11(4). p.37. Mohlala, J., Goldman, G.A. and Goosen, X., 2012. Employee retention within the information technologydivisionofaSouthAfricanbank.SAJournalofHumanResource Management.10(2). pp.1-11. Paillé, P., 2013. Organizational citizenship behaviour and employee retention: how important are turnover cognitions?.The International Journal of Human Resource Management. 24(4). pp.768-790. Patel, P.C. and Conklin, B., 2012. Perceived Labor Productivity in Small Firms—The Effects of High–Performance Work Systems and Group Culture through Employee Retention. Entrepreneurship Theory and Practice.36(2). pp.205-235. Tanwar, K. and Prasad, A., 2016. Exploring the relationship between employer branding and employee retention.Global Business Review.17(3_suppl). pp.186S-206S. Terera, S.R. and Ngirande, H., 2014. The impact of rewards on job satisfaction and employee retention.Mediterranean Journal of Social Sciences. 5(1). p.481. Vasquez,D.,2014.Employeeretentionforeconomicstabilization:Aqualitative phenomenological study in the hospitality sector.International Journal of Management, Economics and Social Sciences.3(1). pp.1-17. Online: Effective Employee Retention Strategies Every Company Must Follow 2019 [Online] Available through<https://blog.mettl.com/talent-hub/5-effective-employee-retention-strategies- every-company-must-follow>. 5factorsthataffectemployeeretention2019[Online]Available through<https://blog.bernieportal.com/5-factors-that-affect-employee-retention>. TheDefinitionofEmployeeRetention2019[Online]Available through<https://bizfluent.com/info-8152703-definition-employee-retention.html>. 25