Foundation of Human Resources
Instructions
Think about the organizations where employee retention is above average. What elements attract applicants to these organizations? What do these organizations offer that motivate employees to remain with them? As a current or future human resource professional, what retention strategies could you learn from these top organizations?
Answer
Strategies for Employee RetentionEmployee retention can be described as the ability of an institution to retain its staff. Retention rate can be expressed in terms of simple statistics like percentage. A firm is likely to retain and attract potential employees if the existing ones are happy. Confidence in top leadership and a supervisor who effectively addresses work-related concerns are among the driving factors of job satisfaction. Wage is not a major driver of satisfaction, ranking 9th in the list of other variables (App et al.,2012). People gain employment engagement, such as leaders communicating with the workforce at a personal level, far beyond financial incentives.Workplace flexibility is an essential tool for staff retention. With the work-life equilibrium now being a major concer...
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