Measuring and Management of Employee Retention

Measuring and Management of Employee Retention

Abstract

Employees are the most important assets of any company. Their importance to companies necessitates not just the need to recruit the finest people, but also the need to retain them throughout time. The purpose of this article is to examine the results of past studies performed by different academics in order to discover determining variables of employee retention. The following major variables were carefully examined in this study: growth possibilities, pay, work life balance, management/leadership, work environment, social support, autonomy, training and development. The study concluded that more research on employee retention is needed to better understand this complicated area of human resource management.

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Introduction

Employees have always been valuable assets to any company. Because of their essential nature, they may be referred to as an organization's life-blood. Because of technological advancements, most businesses are becoming more technology-driven. However, since technology needs human resources to function, this scenario does not diminish the importance of workers in a company. With problems like globalisation, competition is becoming more fierce in numerous sectors. This scenario also has an impact on the employment market, since organizations need for human resources to stay competitive in their particular sectors is greater. 

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To stay competitive, companies must not only recruit the finest people, but also keep them on the job for a long time. The most difficult issue that companies face today is not just how to manage people, but also how to retain them on the job for as long as possible while keeping them energetic and ambitious. The emphasis of this research is on staff retention.


Conclusion 

The capacity of companies to retain their skills is critical for their ability to stay in business. Although this study tried to provide all of the variables linked to employee retention, this complicated field of human resources requires further research. Some variables, such as organisational culture, training and development, and autonomy, have received less attention than, say, supervision and leadership. An organization's personnel is divided into three categories directors, managers, and workers. 

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Existing studies did not place enough focus on the types of workers, sectors of the economy, and types of companies that are disproportionately impacted by one or more factors, while some studies did. Further research is required to better provide companies with the information required to enhance their retention capacity.

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