Although this is not practical in all cases, if it is at all possible it serves as an excellent retention......
Employee Retention Prepared For: Prepared By: 6/12 Table of Contents Table of Contents Introduction 2 Employee Retention 2 Factors leading to employee turnover 2 Impact of High Employee Turnover 3 Retention Techniques 3 Getting Good People 3 Creating a Retention Plan 3 Job Satisfaction 4 Reward Structure and performance appraisal 4 Defined Career Path 4 Frequent and Honest Communication 5 Conclusion 5 References 6 Introduction With the increase in globalization, competition and deregulation, companies have to constantly evolve and improve.
Employee retention is primarily a human resources related issue, which is an integral part of the cultural analysis of the corporate world.
Here, the word culture points to the work culture of the company, which further spans over the other important topics like business organization, strategic management, organizational behavior, etc.
1036) Now when the subject of organizational, or more precisely, corporate culture is included in discussing the issue of employee retention, multidimensional analysis becomes imperative.
This essay is a literature research based analysis of the issue of employee retention in the global work environment.An Exploratory Study of Sanofi’s Strategy on Employee Retention Executive Summary To attract and retain valuable employees in Sanofi, the Human Resources Department of Sanofi has been committed in taking care of their valuable assets.In line with this, the company is providing their staff with a rewarding work environment and offering them with competitive remuneration packages and benefits on top of extending equal opportunities for further training and career development. Employee Turnover and Retention Strategies Introduction This paper attempts to analyse the major causes of employee turnover and recommends solutionsfor employee retention in light of organisational policy and practices.Although these strategies are still effective in terms of motivating employees to stay with Sanofi, its human resource manager should acknowledge the growing importance of work flexibility arrangements and the provision of challenging tasks. The success story of Solution's, a social care agency that demonstrated winning strategies for enhancing the retention rate, is also discussed to illustrate the points.Why Retain People constitute the most valuable resource for any organisation that intends to emerge as a winner in the highly competitive marketplace.It is only when HR professional understand the intrinsic motivators of the employees that they can effectively manage employee retention.There are various challenges or issues that HR managers face with respect to employee retention and following are few important ones: Employees leave managers not companies Theoretically, numerous reasons can be pointed out for employees quitting the company.“It is a widely accepted premise that retention and productivity of workers is a function of how well the individual is motivated” (Lord, 2002, p.3).Motivation theories such as Hierarchy of Needs Theory, Hygiene Theory, Expectancy Theory, Equity Theory, Reinforcement Theory, and Achievement Motivation Theory stress the importance of motivation in employee......?Sources from scholarly publishers have been utilized and works of reputed experts in the field have been referenced.Quality and Productivity Issue: Employee Retention The term employee retention cannot be defined in a way that does not emphasize on its multidimensional aspects.