GLOBAL GUIDE TO EMPLOYEE RETENTION

 GLOBAL GUIDE TO EMPLOYEE RETENTION

Figure 1 (Scott, McMullen, & Royal, 2012)

Employee retention makes reference to an organization's goal of employee engagement and their ability to contribute placed above a white time. It refers to situations in which individuals are not obviously searching for new job opportunities and instead choose to improve and stay with their existing business.

Employee retention has calculated based on this

-choosing a proper period

-Subtract the number of employees who stayed for the entire period from the total number of employees on the first day of the period.

-Multiply by 100

 

Major factors influence on the employee departure from the organization

-leaving the organization for poor satisfaction of jobs

-better paying jobs available at outside of the company

-poor relationship of the supervisors and boss

-family reasons

Employee retention strategies

Figure 2 (Das, 1996)

Das (1996) in their studies identified six major critical factors of employee retention those are Compensation for employees, Learning opportunity, Benefits and security, Work autonomy, Merit orientation, accelerated vertical growth.

As well as  (clouttier, et al., 2015) in their studies suggest major four strategies are, providing effective communication, Work force diversity, Hiring of skilled workers Training and development planes will increase the employee retention in the company. As well as these factors also positively impact on employee retention

1. Provide more positive feedback

2. Encourage Employee creativity

Offer rewards, provide an outlet, innovation teams

3. Providing opportunity to grow employees

4. Providing healthy work life balance

5. Avoid sudden changes in the work place

Employee retention can measured by the HERZBERG THEORY

INDUSTRY: - APPAREL

Figure 4 (Hertzberg,1959)

The theory explain the relationship between employee retention and the motivation. How the motivators and hygiene factors influence on the employee retention in garment industry .hygiene factors are physiological factors of employees once the industry fulfil the hygiene factors employee satisfaction level will get increased and the retention rate will automatically increase.

Second thing is the motivators which also increase the employee satisfaction in the industry

According to these factors the apparel industry has to make changes to keep their employees with them.

CONCLUSION

Employee retention is mainly depend on the satisfaction of employee in the Herzberg theory which clearly mentioned that the hygiene factors and the motivators will increase the employee retention

REFERENCES

Herzberg, F., 1966. Work and the nature of man. Cleveland: World Pub. Co.

Scott, D., McMullen, T. and Royal, M., 2012. Retention of key talent and the role of rewards. World at Work Journal, 21(4), pp.58-70.

Das, H., 1996. Retention Policy: Whom to Retain Anyway? Indian Journal of Industrial Relations, 32(2), pp.223-232.

Cloutier, O., Felusiak, L., Hill, C. and Pemberton-Jones, E.J., 2015. The Importance of Developing Strategies for Employee Retention. Journal of Leadership, Accountability & Ethics, 12(2).