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Employee Retention Strategies for Organizational Success

Mitushi Jain , Mitushi Jain

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Journal of Social Welfare and Management 3(1-2):p 5-9, January - June 2011. | DOI:

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Abstract

Employee retention refers to policies and practices companies use to prevent valuable employees from leaving their jobs. How to retain valuable employees is one of the biggest problem that plague companies in the competitive marketplace. In order 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 trust and loyalty so they have less of a desire to leave in the future. Employee retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. For every company, workforce is an intellectual capital which is the source of its competitive advantage and helps achieve the bottom line. Hence, retaining a well trained, skilled and contented workforce can lead a company to dizzy heights while the lack of it can hamper its growth badly. So, every resignation saved is every dollar earned. In today’s environment it becomes very important for organizations to retain their employees.

Keywords: Meaning of Employee Retention, Reasons for leaving organizations, Importance of Employee Retention., Effective tools for Organizational Success.

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