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Retaining key employees in times of change - Coursework Example

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Summary
In the article, “Retaining Key Employee in Times of Change”, the authors, Sabine Cosack, Matthew Guthridge, and Emily Lawson claim that employee retention is one of the most important human resource practices with respect to change times. When organizations intend to undertake significant transitions, the employees might prefer to look for other employers based on the nature of the intended change…
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Retaining key employees in times of change
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Retaining key employees in times of change

Download file to see previous pages... During such instances, the organization must assess suitable strategies to retain the employees. According to the article, the retention process rarely works if the company uses money only to persuade the employees. Since the retention process is mostly directed towards the high risk employees or the employees that could lead to major impact if they depart, other measures must be undertaken to ensure that the continued working of the organization is guaranteed in spite of the changes. Some changes pose challenges that money alone cannot address. Prior to the transition, the line managers must work together in determining the employees whose retention is critical. Some of the factors considered in determining critical employees in retention include those who exhibit exceptional institutional knowledge, technical expertise, and direct relationships with the management. Specifically, individuals involved in departments such as IT, finance, as well as the administrative sector have unique knowledge concerning organizational systems therefore qualify to be in the retention list. These individuals are usually difficult to replace. Once the list of critical employees is created, the management then prioritizes them according to available retention strategies. This is important since not all individuals would be persuaded using certain incentives such as money. This implies that specific employees have unique requirements and money may not fulfill them. ...Download file to see next pagesRead More
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