Overview back in the 1990s, fitzenz 1990 observed that employee commitment and retention is not determined by a single issue but by a cluster of factors 6. Using a sample size of 120 respondents in a leading beverage establishment in nigeria, the results shows that organizations with adequate employee retention strategies in form of enhanced and regular monthly salary package, workers participation in decisionmaking on issues. Even though all types of the organizations are now a days, found to be technology driven, yet human resources. Despite organizational efforts to decrease employee turnover, retention costs persist iqbal, 2010. Apr 09, 2010 findings the study revealed that it is more profitable for organizations to put in place appropriate employee. Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time.
Although the approaches listed above focus specifically on engaging and retaining new hires, successful retention strategies. By having a better understanding of the reasons employees leave or wishes to leave the organization, effective retention strategies can be adopted james and mathew, 2012. The human resource can play a substantial role for organization level of performance. How to reduce employee turnover through robust retention. Employee retention strategies and organizational performance. The relationship between the employees job performance and their retention also varied significantly with organizational. It examined the relationship between organizational culture and employee retention. With regard to career development strategies and employee performance, the study findings revealed that the organization trained its employees to become aware. The employee retention strategy example guide is an excellent sample to use when creating the official retention program. Organizational leaders may want to examine strategies such as life programs, training, and other incentives to retain employees. The importance of retention retaining good workers is critical to the. The examination of research and opm practices by bailey clark, denise, d. Companies want to believe that providing retention incentives to stay with the combined organization is.
The study centered on organizational culture and employee retention in selected commercial banks in anambra state. Many researchers approached employee retention using a group of individual factors such as employee motivation 4, job satisfaction 1, and organizational culture 5. Employee retention and organizational performance, 2011. Employers are particularly interested in retaining employees during periods. And id argue that culture fit is the most important aspect of retaining great employees. A competitive positioning in nigerian banking sector article pdf available in periodica polytechnica social and management sciences 241. According to reggio 2003, employee turnover refers simply to the movement of employees out of an organization. Using a sample size of 120 respondents in a leading beverage establishment in.
What are the top factors that drive employee retention and are there demographic. Retention after a merger keeping your employees from. Pdf organizational retention strategies and employee. Talent retention and organizational performance covenant. Employee retention strategies in trinidadian small. Maintaining healthy employee relations in an organization is a prerequisite for organizational success. The pespective of mwanza regional secretariat by lilian stanford shao a dissertation submitted in partial fulfilment of the requirements for the award of master of science degree in human resource management of mzumbe university, morogoro, tanzania. The performance appraisal carl aylen, bsc, phd, ma cantab august 16, 20 performance appraisal otherwise known as performance measurement was originally based on the idea that managers would benefit by using a systematic process to involve their direct reports in the improvement of organizational. The impact of employee benefits as retention strategy in a. Employee retention strategies an empirical research by dr. Feb 25, 2015 the study empirically examines the relationship between employee retention strategies and organizational performance.
With an emphasis on the type of employee turnover as a situational factor, this research establishes the hypothesized relationships between different employee turnoversemployee transfers, quits, and involuntary turnoverand organizational performance, and tests them using panel data from 2010 to 2014 in agencies of the u. Impact of employee motivation on performance productivity in private organization. Employee commitment and other factors that affect attraction and retention of employees in organizations. Since the study required analysis of hr practices such as talent management and employee retention strategies in an organization in addition to firms performance, the was survey was focused mainly on. Employee retention strategies should be a critical part of the organizations mission, vision. Employee retention may help organization performance to be. A high performance work system is a strategic approach to many of the things we do in hr, including retention. Introduction longterm health and success of any organization depends upon the retention of key employees. In fact, every organization grooms new employees into skilled personnel and hence, wants to retain them for a long time.
It is a negative aspect, which might lead to the failure of employee retention strategies. Impact of employee retention on performance of a company explains that employee retention have two different aspects one is that when employee. Strategies for employee recruitment, retention and performance core. This implies that for organization to achieve opera tional excellence, there is need to integrate talent retention with organizationalbusiness strategy.
Due to the increasing demand in the job market as a result of several job opportunities, good employee retention strategies are vital for achieving organizational success and performance. A study of effect of employee retention on organizational. Saloni devi, assistant professor, the business school, university of jammu, jammu and kashmir, india. Organizational strategies to boost talent retention in almost all organizations, employee turnover is a significant concern as it results in disruption to operations, missed opportunities, and incurs costs to recruit, hire, onboard, and train new employees. Employee retention can be represented by a simple statistic for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period. Employee retention can be represented by a simple statistic for example, a retention. Impact of employee retention on performance of a company. Effective high performance work systems hpws is the name given to a set of systematic hr practices that create an environment where the employee has greater involvement and responsibility for the success of the organization. Human resources, employee retention, job satisfaction, literature. An employee s job performance will significantly interact with.
Organizational culture values will have a significant influence on retention rates, after the exogenous effects of labor market factors and employee gender and marital status have been accounted for. Gicho a project report submitted to the chandaria school of business in partial fulfillment of the requirement for the degree of masters in business administration mba. Every organization invests time and money to groom a new joinee, make him a corporate ready material and bring him at par with the existing employees. Analysis of employee retention strategies on organizational. The purpose of the study was to investigate the influence of employee retention strategies on the performance of kenya power and lighting company limited.
Organizational retention strategies and employee performance. Employee retention is the act of retaining employees to work in the organization on a longterm basis. The employees who spend a considerable amount of time tend to be loyal and committed towards the management and always decide in favour of the organization. Nov 30, 2017 organizational culture values varied significantly among the firms. Employee retention matters as organizational issues such as training time and investment. May 31, 2018 employee retention is the organizational goal of keeping talented employees and reducing turnover by fostering a positive work atmosphere to promote engagement, showing appreciation to employees, and providing competitive pay and benefits and healthy worklife balance. Research on organizational commitment cited several associated benefits of this construct. Talent management employee retention tutorialspoint. Some examples of organizational commitment benefits include reduction of employee turnover intention masud and daud, 2019 and enhancement of organizational performance. Qualitative descriptive structured interview questionnaire for hr manager and hr executives to get current trends and organizational strategy towards employee retention. This study explores employee benefits as retention strategy in a chain of restaurants in india.
Influence of employee retention strategies on the performance. Companies need guides to make proficient employee retention strategy plans. Pdf the study empirically examines the relationship between employee retention strategies and organizational performance. Employee retention undertakes different measures so that an individual. The study empirically examines the relationship between employee retention strategies and organizational performance. Organizational culture and employee retention of selected. As they interface with the work and the organizational environment, they find. Compounding the matter is when the employee leaving is an executive, vital to the. Abstract human resources are the livelihood of all types of an organization. Pdf talent retention and organizational performance. Pdf employee retention strategies and organizational. To a great extent customer satisfaction, organizational performance.
It can improve the individual motivation improve the performance of the employee in this context performance related pay refer to system linking the performance it based on the organizational accountably measure individual outputs individual output of the organizations performance. Talent engagement strategies te n s talent employee engagement is a vast construct that involves almost all the practices of. Employee retention strategies an empirical research. Definition, effects on turnover and retention strategies are included for each factor. Jetblue incorporated a retention strategy to provide training to employees, which encouraged employee. An overview of the traditional employee retention strategies in organizations in nigeria the intent of this sub section is to draw an insight on some of the traditional employee strategies currently being. Employee retention strategies management study guide. How important is culture fit for employee retention. Employee retention refers to the ability of an organization to retain its employees.
Retainingtalent a guide to analyzing and managing employee turnover. Providing employee performance management feedback on a regular basis5. Organizational culture values varied significantly among the firms. Introduction retention is considered as allround element of human resource strategies and.
Enhancing strategies to improve workplace performance. Organizational culture and employee retention academy of. Employee turnover and organizational performance in u. Organizational strategies to boost talent retention. The role of employee retention and employee productivity on. What are the top factors that drive employee retention and. Strong employee relations are required for high productivity and human satisfaction. Finally, the retention report finds that effective employee retention strategies must be built on accurate knowledge and understanding of employees needs and expectations. With the talent managementtm becoming an area of emergent concern in the literature, the purpose of the study is to have deep analysis of the relationship between. In previous researches a number of factors associated with employee retention have been identified. On the basis of findings of the study strategies which are recommended for. Hiring based on shared values and cultural beliefs leads to winning results. Influence of employee retention strategies on the performance of.
The role of employee retention and employee productivity on the. The variation in cultural values had a significant effect on the rates at which the newly hired employees voluntarily terminated employment. Employee retention can simply be defined as the strategies put in place by an organization to retain its employees and reduce turnover. Employees usually join the organization bringing with them their work values. The key for all organization is to make rational decisions about retention strategies and prioritize employee s interests putting people first. It specifically focused on the nature of relationship between innovative culture and employee retention commitment. Emerging trends in employee retention strategies in a. Retention after a merger keeping your employees from jumping. However, the study analyzed retention on the basis of individual factors basis.
Participation broadens ones organizational identity beyond employee to include volunteer, leader, and diversity champion. Using a sample size of 120 respondents in a leading beverage. Employee retention is seen as a phenomenon which is increasingly getting the attention of many organizations hong et al. The relationship between the employees job performance and their retention also varied significantly with organizational culture values. This hypothesis states that supervisor support has a positive relationship with dependent variable employee retention, which show that if supervisors provide higher support to subordinates then the employee retention will also be higher. Employee retention strategies for an organization to do well and earn profits it is essential that the high potential employees stick to it for a longer duration and contribute effectively. Impact of employee retention on performance of a company explains that employee retention have two different aspects one is that when employee feel retain in the company for long time then he didnt do work properly and feel free from duty, didnt do work and also involve in other different time.
465 778 1387 627 980 1395 1039 1440 1198 402 1304 1149 788 216 149 1593 1385 1528 761 513 600 1104 1156 1414 1323 652 1216 815 1492 1537 360 474 1600 514 1216 738 1134 1047 1493 1293 1268 1455 30