Employee Retention Strategies: A Report on Motivation and Turnover

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BUSINESS COMMUNICATION
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Table of Contents
INTRODUCTION......................................................................................................................................................... 3
MAIN BODY.................................................................................................................................................................. 4
CONCLUSION............................................................................................................................................................... 5
REFERENCES............................................................................................................................................................... 6
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INTRODUCTION
In current world, human resource consider as a valuable asset for the business
organization business try their best to retain their valuable employees and for it, employee
motivation is very helpful for the business organization. Employee motivation increase job
satisfaction among the customer that ultimately benefits business in retaining their
employees.
MAIN BODY
For every business organization, employees are the ultimate asset that significantly
contributes to the company's success and business do every possible activity to retain their
employees. Through the study, it is found out that employee motivation is the key source in
retaining employees as according to Aguenza & Som (2018), in global environment,
retention and engagement of skilled and talented employee is very tough especially in high
turnover rates. In most of the times, engagement is also ineffective and leads to
dissatisfaction in that case employee motivation is very helpful in retaining employees
(Aguenza & Som, 2018). Business can try various motivational factors to motivate and
retain employees such as motivate through financial rewards, recognition, career
development etc. that is very helpful in reducing turnover rate for the business
organization but employee motivation requires commitment of the employer and it is
worth investment for the long term perspective.
In support of the above statement, customer satisfaction also plays a very important role in
motivation of employees says Frey et al (2013) satisfy customer through providing good
quality services boost confidence and provide motivation to the employees that result in
job satisfaction and reduce the turnover rate. Further added by Sandhya & Kumar (2011),
employee reward program, open communication, performance-based bonus, recreation
facilities, gifts at some special occasions also provide very good motivation that helps in
retaining employees and reduce staff turnover.
In contrast to these above factors, Coetzee & Stoltz (2015) has argued that employee
motivation is not the only thing that helps in employee retention but career concern,
opportunities to use potential knowledge, level of satisfaction also deciding factor of
retaining employees. Further added by Laddha et al (2012), motivation is a good factor but
employees more often than not prefer to leave business organization if they can’t use their
full potential or the working environment is not good.
CONCLUSION
The study shows that employee motivation is very important in retaining employees and
reduce staff turnover but career goal, opportunities provided to use one’s full potential,
healthy environment is also key factor retain employees and make them stay.
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REFERENCES
Aguenza, B. B., & Som, A. P. M. (2018). Motivational factors of employee retention and
engagement in organizations. IJAME.
Coetzee, M., & Stoltz, E. (2015). Employees' satisfaction with retention factors: Exploring
the role of career adaptability. Journal of Vocational Behavior, 89, 83-91.
Frey, R. V., Bayón, T., & Totzek, D. (2013). How customer satisfaction affects employee
satisfaction and retention in a professional services context. Journal of Service
Research, 16(4), 503-517.
Laddha, A., Singh, R., Gabbad, H., & Gidwani, G. D. (2012). Employee retention: An art to
reduce turnover. International Journal of Management Research and Reviews, 2(3), 453.
Sandhya, K., & Kumar, D. P. (2011). Employee retention by motivation. Indian Journal of
science and technology, 4(12), 1778-1782.
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