- October 14, 2009
- Posted by: admin
- Categories: Blog, Career Growth, Corporate Culture, Enterprise Agility, Human Resource Management, Relationship management, Requirement Analysis
It is extremely crucial for organizations to retain its best employees as they play significant role in the short and particularly in the long term success of the business. If the employee turnover rate within the organization is high then it impedes the company’s overall performance, therefore making it more complicated for the management to retain the others. It is highly imperative for the management to comprehend the reasons of previous departures so that they can formulate strategies in order to retain the rest of the staff.
Normally, conflict of interests; seeking better career development opportunities, desire to be recognized for their valuable contributions and aspiration for improved salary packages are the grounds for this particular situation. However there might be various other aspects that are involved in employee turnover. Appropriate measures must be taken in order to ensure that employees are being provided with abundant opportunities to grow professionally in terms of their knowledge, skills and abilities (career development). Furthermore, it is imperative to develop a culture where their skills can be utilized efficiently and effectively.
For this reason, regular meetings can help considerably where employees can discuss their work related issues and other reservations, which can facilitate communication regarding their expectations to the management.
Kindly share your opinions on how a company can retain its valuable employees, keeping in mind the company’s financial limitations and organizational hierarchy.