Employee Retention

  One of the primary dilemmas confronting modern employees is the retention of staff within their respective organizations. In an era marked by intense competition, every company endeavors to provide optimal amenities to its workforce. Effectively meeting the needs of human resources stands as a formidable challenge encountered by the majority of businesses today. Deciphering the complexities of human psychology proves to be exceedingly arduous. Additionally, the abundance of opportunities available to skilled and talented professionals makes it increasingly strenuous for employers to adequately satisfy and retain them. There exists no singular strategy or retention scheme capable of appeasing every employee within an organization. Just as individuals possess diverse personalities, they harbor distinct demands and expectations from their employers . Numerous scholars, including Arnold and Feldman (1982), Wotruba and Tyagi (1991), and Brodie (1995), have conducted research indicat...

Introduction In today's rapidly evolving global economy, significant changes have occurred and continued to unfold. Factors such as globalization, technological advancements, and growing competition for limited resources exert pressure on organizations, underscoring the importance of maintaining their competitive edge, partly by nurturing the skills of their workforce. Moreover, these developments have intensified competition among organizations, compelling them to optimize their asset management, particularly in regard to their human capital (Korir, 2014). Implementing robust resourcing strategies including human resource planning, recruitment, employer branding, career development, employee relations, and retention is crucial for acquiring skilled, talented, and dedicated personnel. This is essential because the expertise and knowledge of employees have emerged as pivotal factors for organizations striving to remain economically competitive (Kwon, 2009; HillTrop, 2009) . The ...

  One of the major obstacles encountered by businesses is retaining their employees. Research conducted in this field suggests that the prevalent issue of high turnover, particularly driven by voluntary departures, stems from a lack of alignment between employees' interests and company goals. This blog is focused on identifying the specific factors concerning both employees and companies that play crucial roles in retaining staff and diminishing turnover rates . As per Samuel and Chipunza (2009), turnover happens when employees resign from their positions, necessitating replacements, thus incurring costs for the organization. Consequently, Khan and Aleem (2014) contend that retaining employees, particularly the highly skilled ones, has emerged as a significant managerial challenge . These challenges will be discussed according to the following hypothesis. H1: Ensuring equitable and competitive compensation packages is crucial for retaining employees within the company . Bisht...

Human resource activities have frequently been employed to evaluate organizational performance. A fundamental aspect of HRM is the acknowledgment that enhanced performance stems from the workforce within the organization. In recent times, significant attention has been given to understanding the relationship between Human Resources Management (HRM) and performance. Nonetheless, authors have advised for further investigation into the intermediary function of HRM outcomes like employee retention in the correlation between HRM practices and organizational performance. Organizations typically vary greatly in size and structure, often showcasing more disparities than similarities. Nonetheless, a shared element among these organizations is their attainment of success, which hinges on the expertise, knowledge, and experience of their workforce. In recent times, notable attention has been devoted to understanding the relationship between HRM and performance. However, some researchers have ex...

Organizations typically strive to retain top performers and valuable contributors to enhance profitability. Employees serve as the backbone of an organization, playing a crucial role in its smooth operation and financial success. The primary challenge for organizations lies in maintaining a stable workforce by minimizing turnover rates through offering enhanced benefits and flexible workplace policies, leading to significant cost savings. This blog emphasizes how employee retention can serve as a strategic asset for enhancing organizational profitability. Globally, organizations encounter numerous hurdles in addressing complex issues related to business performance. In today's fast-paced business landscapes, where organizations constantly pursue improved business performance amidst social trends such as globalization and technological advancements, alongside heightened global competition, these transformations not only result in a scarcity of skilled personnel but also pose a risk ...

Determining how to retain employees largely hinges on grasping the factors that contribute to employee job satisfaction. Thus, it is imperative to ensure that your business is implementing the appropriate measures to foster the retention of highly valued talent. Firstly, it is essential to comprehend the reasons why your employees may be seeking new opportunities and to contemplate why certain team members may have already submitted their resignations . Why are Employees Leaving? Exit interviews offer invaluable insights into employees' perspectives on your company and can assist in evaluating the effectiveness of your employee retention strategies . It's highly probable that the departing employee will mention one or more of the following reasons for leaving their position: Insufficient salary Non-competitive perks and benefits package Feeling overwhelmed and/or lacking support Lack of acknowledgment or recognition Boredom in the role Limit...