Employee Retention: A Much Needed Strategy in Global Work Environment

Retention of productive employees is one of the major areas of concern for the HR professionals throughout the world. Employee retention is significantly important because of the high costs and time lapse involved in hiring new employees. Moreover, it is in the interest of the employers to retain the valuable employees who contribute their best to the organization. In a global work environment, there are more chances wherein employees may leave a job for various reasons like better career prospects, lucrative salary packages, flexible working hours, better workplace environment etc. Therefore, it is the responsibility of employers to conduct surveys and get a regular feedback from the employees regarding their level of satisfaction with respect to the various aspects of the workplace. Thus this paper discusses about various factors that can have impact on employee retention. Further, it suggests various strategies which can adopted for retaining the employees as retaining an honest and trustworthy employee is much better than recruiting someone else from outside.