Organizations face many challenges in retain their trained, experienced and skilled employees. There are many challenges in retaining the employees. They are: there is a huge gap between the expected monetary benefits and the actual or the provided benefits. This is considered as the major reasons for the employee turnover. Today there is are huge opportunities out side for the employees for develop themselves, as well as there are some employees they feel bored after doing the same job or being in the same position for several years. Some other employees they seek just to find a job and not much interested on retaining in it, as well some unrealistic expectations of the employees leads to employee turnover. These are some of the reasons and challenges of the employee retention (MSG).
There is a need for the management to identify and recognize the employees who are dedicated, and results oriented the organization. These employees should be retain and its the organization's responsibility too. There are some ways of retaining the best employees. They are: work should never bored, there should be new learning every day. Employers should keep the best employees' work interest each and every day. Each and every employee must have privacy in their work place. The seniors must be there for queries to the subordinates when it is needed. The friendly work environment is another factors to retain the best employees. There should be proper rewarding, motivation schemes for the performers. The top performers should be part of decision making process. Finally the transparency and the discipline must be maintained (MSG).
According to the study conducted by Tapas etal (2012), it is concluded though there are some sensitive parameters that leads to challenges in employee retention like career development, equal rights in decision making health and wellness programs for both the employee and for his or her family and etc there are some new ways of handling man power planning in order to face stiff competition and challenges in employee retention.
According to the study conducted by Tapas etal (2012), it is concluded though there are some sensitive parameters that leads to challenges in employee retention like career development, equal rights in decision making health and wellness programs for both the employee and for his or her family and etc there are some new ways of handling man power planning in order to face stiff competition and challenges in employee retention.
References
Management Study Guide (MSG) (2018) Challenges in Employee Retention. MSG. Available at https://managementstudyguide.com/challanges-in-employee-retention.htm. Accessed on 25th April 2019.
Management Study Guide (MSG) (2018) How to Retain the Best Employee. MSG. Available at https://managementstudyguide.com/challanges-in-employee-retention.htm. Accessed on 25th April 2019.
Tapas,D., Pratibha, G., Reeva, V and Seshanwita, D. (2012) Key factors and challenges for retention of employees in a public sector telecom enterprise. All India Management Association Journal of Management and Research, 6(4), p. 497.
Tapas,D., Pratibha, G., Reeva, V and Seshanwita, D. (2012) Key factors and challenges for retention of employees in a public sector telecom enterprise. All India Management Association Journal of Management and Research, 6(4), p. 497.
Making a pay structure that supports an employee development program is a particular challenge for organizations. Numerous organizations guarantee to put together salary increases with respect to performance, yet that isn't really the situation. A few organizations endeavor to underline a group situation, yet keep on remunerating individuals for individual accomplishment (Feldman, 2000).
ReplyDeleteReference:
Feldman, D. (2000). The Dilbert syndrome: How employee cynicism about ineffective management is changing the nature of careers in organizations. American Behavioral Scientist, 43, 1286-1301.
Yes, as mentioned, the monetary benefits for an employee decides whether to stay with the company or not, at the same time, there are some non monetary benefits that matters a lot like recognition, motivations, acceptance, respect, the work environment and etc.
DeleteEmployee retention is more important for any organization, due to the talent war and high demand for professionals there are numerous alternatives are available for skilled workers. Firm will have to implement with new strategies with HR department to ensure the employees retention such as promotion and salary action, the learning and development process, rewords and recognition are considered as strong retention activities. When it comes to a large scale organization selecting and identifying potential individuals and implementing above activities, will be the challenge. (Kigo,K.S 2016)
ReplyDeleteKigo,K.S (2016) Effective of talent management strategies on employee retention in insurance industry. The strategic journal of business and change management,3(2) pp 977-1004.
When employees discover that their organization cares so much about their developmental status, employees will offer their best to the service of the organization. Therefore, the HRM plays a vast role in employee retention. (Dr. Nyameh, J. 2013)
ReplyDeleteDr. Nyameh, J (2013) Application of the Maslow’s hierarchy of need theory; impacts and implications on organizational culture, human resource and employee’s performance. International Journal of Business and Management Invention, 2(3), pp.39-45
There are few key points that an organization can practice to retain employees. Most of the time employees just get tired of doing the same task every day for longer time periods. Organizations should provide relevant training and allow them to update employee skills. Another important aspect is privacy at the working environment. Management should be able to trust the employees with their work. Rather than talking behind people’s back, management should be able to build a culture that everyone get motivated to do their part for the organization. Creating employee friendly policies also help the organization to have employees with better attitudes towards the company goals.
ReplyDeleteJuneja, P. (2016). How to Retain the Best Employee. [online] Managementstudyguide.com. Available at: https://www.managementstudyguide.com/how-to-retain-best-employees.htm [Accessed 24 Apr. 2019].
Well, the points which you mentioned are very much relevant in today's business context. Specially as you mentioned, employees may feel bored doing the same tasks for a longer period of time. this is one of the factors that determine the employee retention and the organization should focus on it.
DeleteThe gig economy or the contingent workforce might be a huge challenge for employee retention. As this new disruptive workforce provides the ever needed flexibility to workers and hep them to be their own boss (Mulcahy, 2018).
ReplyDeleteMulcahy, D. (2018). The Gig Economy. [Place of publication not identified]: Skillsoft.
Thanks everyone, your inputs are really appreciated.
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