Human resources are complex and not easy to understand. These are the assets which can make or break an organization. Retaining them will help in the long-term growth of an organization and will also add to their goodwill.
But
the most difficult task faced by an organization today is retaining and
satisfying these resources.
In
this blog we saw what employee retention is, the factors that affect employee
retention, difficulties that Organizations face to retain employees and the
benefits that an organization get by implementing good retention strategies.
Therefore,
it is essential that in this competitive market organizations should implement proper strategies, take care of their employees
and satisfy them to retain their efficient and experts in order to sustain
their Organization in the market.
Being a part of Startup company employee retention is a major concern as hiring is not an easy process, a startup invests time and money in grooming an individual and make him ready to work and understand the corporate culture, When an individual resigns from the startup, it is more likely that he would join the competitors which is bad for business, the employees working for a longer period of time are more familiar with the startup’s policies, guidelines and thus they adjust better and every individual needs time to adjust with others. Being in Startup I found this domain suitable and highly relatable. As Startup companies are small in size each employee is like a pillar holding the origination so it really important for companies with smaller employee base.
ReplyDeletePrincy you have done a great job,good tropic to talk now a days.
ReplyDeleteAll employees are difference. Each has unique desires and goals.competent management can understand the those unique desires and address them. Effective employee retention plan need to be carried out by the management.Human resource department should have the strategies to boost the job satisfaction and minimize the labor turnover.
Sad to say that now a days unfortunately,managers are too busy to worry about employee retention.Retaining your best staff helps ensure sales, satisfied coworkers and staff,production, and customer service.
ReplyDeleteAgreed with the conclusion, this is a challenging subject for any HR or HR related professional. Importance and the benefits of employee retention is high lighted clearly in previous posts, and this conclusion summerises why its crucial to achieve an win win situation both organization and employees.
ReplyDeleteAs you correctly said Employee retention is perhaps one of the most important factors that contributes to the growth and success of a company. The dynamics between an employee and his work place is a delicate balance of give and take. Without the right amount of involvement and support, employees can feel undervalued and ignored.
ReplyDeleteIf a position requires very specialized knowledge, turnover is even more expensive and damaging. Essentially, employee retention is the life-blood of a company, therefore Organizations must identify the reasons for turnover, overcome those and retaining is a must for the sustainability of the organization.