The discussion seeks to answer the questions: What factors contribute to employee retention? What are the major causes increasing labour turnover rate? What are the remedies to handle that labour turnover rate? How to ensure durable employee retention? …
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From this research it is clear that employee retention has become a challenging task for various organizations. Organizations always prefer to retain the highly potential employees as they consider them to be an asset. The successful retention polices are always attached with the talent management approaches envisioned and designed to increase workplace productivity. Retaining and utilizing talent can be used to increase the workplace productivity. For this purpose, learning environment can be ensured by establishing the approaches such as gap and appreciative approach. The purpose of both approaches is to assess the current performance and potential of the employees. The organization faces issues such as job content and prospects. The majority of left employee believed that they it would be of no use to expect career growth and increase in pay and benefits. And others believed that it would be useless to continue providing services as their current employment job content did not meet with their experience, qualification and expertise. Others were of the view that the management did not pay much and there would be lesser chances of growth in benefits. The management must take into account such causes. Importantly, the human resource personnel must develop job content appropriately resembling with the experience, qualification and expertise. The potential employees must be provided a job content copy and their approval must be sought. The management must provide a workplace environment in which the employees should remain optimistic about their career growth and development. They must consider themselves to be a part of the organization. For this, management must ensure appropriate remuneration, learning and development opportunities. Table of Content Content Page Number Project aim and objectives 1 Project plan and approaches 2 Literature review Introduction 4 Definition of Retention 4 Retention Factors for Employees 4 Learning and work Environment 6 Skill recognition 6 High Potential Employees 7 Training and Development 8 Talent 8 Summary 9 Critical Evaluation and Analysis of the Data 11 Discussion 17 Conclusion and Recommendations 19 References 22 Project aim and objectives Comprehending the major organizational and personal factors contributing towards employee retention Highlighting the significant factors that directly or indirectly enhance the labour turnover rate Assessing workable strategies capable enough to diminish labour turnover rate Research Questions What factors contribute to employee retention? What are the major causes increasing labour turnover rate? What are the remedies to handle that labour turnover rate? How to ensure durable employee retention? Project plan and approach The primary approach method has been used to collect data for the paper. The primary research method is a research method used to collect firsthand information in order to entertain research aims and objectives along with research questions. Before going to embark upon the paper, the project aim and objectives were selected. The development of the project aim and objectives necessitated to begin the next step. In the next step, data was collected from the company. The primary data consists of employees left the organization along with their reasons mentioned in that sheet. For any project, the primary data is fundamentally important as it is evaluated subsequently in the light of the project aim and objectives. However, before going to begin evaluating that data, the portion of literature review was completed. The literature review provided the fundamental factors necessary for employee retention. The authentic and reliable sources were employed to acquire information for the literature review. The literature review was completed with a critical approach. After completing the literature review, the critical evaluation and analysis of the primary data was carried out. While critically analysing the primary data, multiple perspective approach was used. The
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44 Pages(11000 words)Dissertation
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