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Retention Policy

Retention Policy

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Published by aashiti
this is a project report on various retention strategies on management to retain employees on an organization.
this is a project report on various retention strategies on management to retain employees on an organization.

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Published by: aashiti on Aug 13, 2010
Copyright:Attribution Non-commercial


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1.1What Is Retention1.2Why People Leave1.3Why People Stay1.4Importance Of Retention2.
Research Objectives and Hypothesis3.Research Methodology
3.1Primary Data3.2Secondary Data
4.Strategic Elements
4.1Strategies to Retain Employees4.2Why to Retain? Its Pros and Cons4.3Retention Myths4.4Process of Retention4.5Managing Employee retention4.6Retention Management4.7Managers Role In Retention4.8Employee Retention In New Millennium
5.Tips For Employee Retention6. What are the Best Retention Practices?7. Data Analysis and Interpretation8. Observations and Prime Findings
9. Conclusions & Recommendation10. Appendix (Sample Questionnaire)Bibliography
1.2 What is Retention?
“Employee Retention” is the buzzword that one could hear in all the companies. Hiring atalented employee and retaining them is one of the major concerns faced by thecompanies. The employees with more experience in an organization are always an assetto the company, the reason being they are much familiar with the company culture.Employee retention is a process in which the employees are encouraged to remain withthe organization for the maximum period of time or until the completion of the project.Employee retention is beneficial for the organization as well as the employee.Employee retention refers to policies and practices companies use to prevent valuableemployees from leaving their jobs. How to retain valuable employees is one of the biggest problems that plague companies in the competitivemarketplace. Not too longago, companies accepted the "revolving door policy" as part of doing business and werequick to fill a vacant job with another eager candidate. Nowadays, businesses often findthat they spend considerable time, effort, and money to train an employee only to havethem develop into a valuable commodity and leave the company for greener pastures. Inorder to create a successful company, employers should consider as many options as possible when it comes to retaining employees, while at the same time securing their trustand loyalty so they have less of a desire to leave in the future.Employees today are different. They are not the ones who don’t have good opportunitiesin hand. As soon as they feel dissatisfied with the current employer or the job, theyswitch over to the next job. It is the responsibility of the employer to retain their best
employees. If they don’t, they would be left with no good employees. A good employer should know how to attract and retain its employees.Employee Retention involves taking measures to encourage employees to remain in theorganization for the maximum period of time. Corporate is facing a lot of problems inemployee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over tosome other more suitable job. In today’s environment it becomes very important for organizations to retain their employees.The top organizations are on the top because they value their employees and they knowhow to keep them glued to the organization. Employees stay and leave organizations for some reasons.The picture states the latest statementthat corporate believes in “Love them or lose them”The reason may be personal or professional. These reasons should be understood by theemployer and should be taken care of. The organizations are becoming aware of thesereasons and adopting many strategies for employee retention.

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