Employee Retention: Analysis of Causes, Effects, and Strategies

This report provides an in-depth analysis of employee retention, a crucial aspect of human resource management. It explores the concept of employee retention, emphasizing its importance in maintaining a stable and productive workforce. The report identifies various causes of employee turnover, including inadequate training, poor compensation, and unfavorable work conditions. Furthermore, it examines the adverse effects of high turnover rates, such as reduced service quality, decreased productivity, and the disruption of business operations. The report also outlines essential activities for improving employee retention, such as effective training programs, employee engagement initiatives, and competitive compensation packages. Finally, it offers recommendations for the management, like increasing investment in value-added services, improving training quality, and enhancing recruitment and selection processes, supported by relevant academic references. The report aims to provide a comprehensive understanding of employee retention and offer practical strategies for organizations to reduce turnover and foster a stable, engaged workforce.

EMPLOYEE RETENTION -
An in Depth Analysis
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Introduction
The presentation includes:
 Concept of employee retention.
 Causes of employee turnover.
 Effects of employee turnover.
 Necessary activities for the employee retention.
 Recommendation.
 Conclusion.

CONCEPT OF EMPLOYEE RETENTION
Employee retention:
The concept of the employee retention is highlighted as the effective
retention of the talented employees inside the organization.
It is considered as an important technique for the management of the
sustainability in the human resources of the company.

CAUSES OF EMPLOYEE
TURNOVER
With a precise look at the modern world of
business, it is understandable that the
companies are loosing talented workforce for
several reasons:
Inappropriate management of the
training and development.
Improper wage characteristics.
Superficial work time characteristics.

CAUSES OF EMPLOYEE
TURNOVER
There are different causes of employee
turnover such as :
Inappropriate rewarding policy.
Improper organizational culture.
Unproductive working
environment.

CAUSES OF EMPLOYEE
TURNOVER
Apart from the factors that are mentioned earlier, the
authors identified three more factors that contribute to
the employee turnover which are mentioned below:
 Improper performance evaluation.
 Value added services.
 Inaccurate workplace health and safety infrastructure.

EFFECTS OF EMPLOYEE
TURNOVER
The three main effects of the employee turnover is
seen to be:
 Decline in the quality of the services.
 Decrement of the production.
 Decline in the sustainability of the business
activities.

NECESSARY ACTIVITIES FOR THE EMPLOYEE
RETENTION
The activities that are much required for the companies in retaining their employees
are:
o Effective initiation of the training and developmental activities.
o Employee engagement sessions.
o Appropriate formation of the wage and work time characteristics.

NECESSARY ACTIVITIES FOR THE EMPLOYEE
RETENTION
The necessary activities for the retention of the employees are mentioned below:
 Development of modern infrastructure for the management of the workplace
health and safety.
 Appropriate evaluation of the performances inside the company.
 Formation of an attractive rewarding policy.

RECOMMENDATION
The recommendation for the management of the employee retention will be:
 Increment in the investment for providing the value added services to the
employees (Ahammad et al.).
 Enhancement of the quality of the training and developmental activities. (Bode,
Singh and Rogan)
 Effective management of the recruitment and selection procedures along with
the employee induction.

REFERENCES:
AHAMMAD, MOHAMMAD FAISAL, ET AL. "KNOWLEDGE TRANSFER
AND CROSS-BORDER ACQUISITION PERFORMANCE: THE IMPACT OF
CULTURAL DISTANCE AND EMPLOYEE RETENTION." INTERNATIONAL
BUSINESS REVIEW 25.1 (2016): 66-75.
BODE, CHRISTIANE, JASJIT SINGH, AND MICHELLE ROGAN.
"CORPORATE SOCIAL INITIATIVES AND EMPLOYEE RETENTION."
ORGANIZATION SCIENCE 26.6 (2015): 1702-1720.

BIBLIOGRAPHY
KORSAKIENĖ, RENATA, ET AL. "FACTORS DRIVING TURNOVER AND
RETENTION OF INFORMATION TECHNOLOGY PROFESSIONALS."
JOURNAL OF BUSINESS ECONOMICS AND MANAGEMENT 16.1
(2015): 1-17.