Figuring Out

Employee Retention

An organization is a type of social entity comprised of a group of people working together towards a common goal. The employees are the most important asset for any firm or organization, as without employees firms and organization will be reduced to nothing more than just a name. A group of employees will not only form an organization, but they are the ones who give the organization a certain competitive advantage.

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The employees can be on the higher tiers such as the likes of managers or something more humbler like foremen, but its these employees are what allows an organization have the ability to dominate other organizations. These employees have the skills, capabilities, behavior, efficiency, knowledge and etc required for any company to execute any plans. Thus, without the support of employees be it from the lowest position to the very top, an organization equates to nothing, so it’s the best that they are held on to and taken care of.

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Employee retention literally means the company, organization, or firm’s ability to keep or retain its employees. Employee retention requires certain strategies to follow. This means, companies need good plans and policies in order to keep their employees. As they say the best way to solve a problem is to work on its source, thus, to keep employees an organization should know why they want to leave in the first place.

Reasons why an employee might want to leave:

Pay -A very clear reason as to why employees choose to leave an organization is salary. Money is the biggest motivating factor as to why people work in the first place. People work to earn some money, that’s why people look for jobs and there will always be the tendency of a person leaving an organization for an organization with better pay for practically the same work or if they feel like they are being too underpaid.

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General Lack of Motivation: Motivation is the psychological factor that drives and encourages an employee to work hard to achieve desired goals. Motivation is needed every now and then to boost morale, this could be in any form be it monetary or not. The passion to work hard is very important. Motivation provides exactly that.

Lack of Proper Management: Management is very important when it comes to employee retention Inefficient managers will only cause employees to leave on a regular basis. Managers don’t need to be very stern and strict 24/7, there are situations where politeness is required. Its absolutely necessary for managers to hear the voice of the employees, listen to their problems and help provide a better solution.

The reasons above are just the common reasons as to why employees want to leave I’m sure there are other personal reasons that might drive an employee to leave the organization.

Keeping employees is hard work, but not that replacing an employee is 3 times as expensive as their salary, this means it’s actually better keep them.

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Employment