Retention of Employees

As we all know customer retention is very important for any organisation but we should not forget the employee retention. Employees are the one responsible for the position any company has acquired by time. Their hard-work and loyalty have benefited them as well as the organisation. So, company should give more attention towards the employee satisfaction.

Moreover, if company lose their current employee, then they have trained the new employee. Thus, affecting the company financially.

Thank you.

@Rajash Kumar,
I also appreciate your point of view retention is always related to good performer employee.

@Tanu
It doesn't matter for expenses for trained new employee when our past employee is not working properly according to company pay for him/her for his work.

As employee retention is crucial for the success of any organization.

Some of the strategies that companies often to retain their employees like competitive compensation, career development opportunities, recognition and rewards, work-life balance, positive work environment, employee engagement, health and wellness programmes, flexible benefits, and exit interviews to understand the reasons behind departures.

Retention of employees is very important for any company to save costs on hiring new talent and training them on their role in contributing to growth of the company.

First, we need to analyse from an employee point of view why an individual wants to leave the company in which they are working and then provide solutions like increasing their incentives based on performance, training sessions for them to upskills and contribute greater skills to the company, good work environment, other perks like travelling allowance or facility for the workplace, overall well being of employee and should be treated as an asset to a company which can help the company save its cost which will help them in long run and also created a good brand image for the company in public where its gets great reputation and many skilled individuals will look up as an opportunity to showcase their talent and contribute towards the common goal of the company.