Employee Retention: Love them or loose them

“Start with good people, lay out the rules, communicate with your employees, motivate them and reward them. If you do all those things effectively, you can't miss.”

Employee retention has become a major concern for organizations of any nature. Employee attrition is a costly dilemma for all organizations. In one of the survey it was found that 90% of those firms surveyed said it was more difficult to retain talented individuals than it was several years before. Therefore, it is imperative that organizations and managers recognize that retention must be a continuing HR emphasis and a significant responsibility for all supervisors and managers.

Employee retention involves taking measures to encourage employees to remain in the organization for a longer tenure. The corporate world today is facing a lot of problems in retaining competent and able employees in the organization. It is very essential to recruit knowledgeable people in the organization and it is still more important to retain them.

Job mobility is increasing at a rapid pace and so recruiting competent people is also becoming difficult, especially in India.Organizations these days create an enabling culture to help employees retain in the organization and also to protect the existing skilled manpower, since there is no dearth of opportunities for a talented person.

The main objective of this paper was to find the reasons of employee turnover in the organizations and another objective of the research was to study the strategies to be employed, which should be adopted by the organizations to retain their employees.