Employee Retention

Introduction
Employee Retention involves taking measures to
encourage employees to remain in the organization for
the maximum period of time.
Employee retention matters as issues like training
time and investment, lost knowledge, insecure
employees, and costly candidate search is involved.
Does Employee Retention Really Matter?
High turnover leaves customers and employers in the
lurch
Replacing employees can be expensive
Recruitment takes time and effort
Training new staff can take up time
Senseless to let talent leave the organization as they
take with them knowledge, investments and an
occasional employee or two.
What Makes Employees Leave?
1. Job is not what the employee expected it to be
2. Job and person mismatch
3. No growth opportunities
4. Lack of appreciation
5. Lack of trust and support from coworkers, seniors
and management
6. Stress from overwork and work life imbalance
7. Compensation
8. New job offer
Some Myths in the Workplace
People leave a company for more pay
Incentive programs produce long term profits and
improve productivity and morale
People don’t want more responsibility
Loyalty is dead
Improving employee satisfaction is expensive
Employee satisfaction is fluff
Barriers to Employee Retention
1. Lack of support from management
2. Company culture does not support change
3. Back lash from workers
4. Managers do not view work/life initiatives as
business tools that impact employee retention
Retention Success Mantras
Quality of work life
Support
Open communication
Employee reward program
Career development program
Performance based bonus
Recreation facilities
The End