Employee retention Employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organisation kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome. In
Words: 1048 - Pages: 5
Importance of Retention Systems in Human Resource Management Abstract Retention systems is one of the most important components of a staffing system within an organization. Human Resources is responsible for obtaining human capital in order for an organization to obtain and maintain productivity and profits. Human capital is a major expense and investment within organizations. If the organization is unable to retain its workers, the organization nets substantial losses on each employee it is not
Words: 2783 - Pages: 12
Employee Retention “October 2010 marked the first time in 15 months that the number of resignations in a month surpassed the number of layoffs” (Porter, 2011, p. 56). This data illustrates just how big problem employee retention can be. This is not relative to any one industry or company; it is a problem for everyone in the business world. This paper will discuss employee retention before, during, and after an employee has been employed by a company. Hiring for Retention First, employee retention
Words: 1225 - Pages: 5
next step is the retention of these best-fit employees. When a new recruit joins an organisation, lot of time and money is invested to groom the new joinee, make him/her corporate ready and bring at par with the existing employees. The organization is completely at loss when these employees leave their job once they are fully trained. According to various researches replacing an employee is estimated to cost twice the deportee’s annual salary. Hence, the concept of employee retention becomes strategically
Words: 875 - Pages: 4
RETENTION DRIVERS AT BAYTECH PLASTICS Retention drivers at Baytech Plastics Penny Luwedde June 09, 2013 What elements of retention drivers are missing from Baytech Plastics’ strategy and what should be included if anything is missing? Baytech Plastics is a company that produces plastic components and assemblies for companies in North America and overseas. According to the case study, “Retention of Employees at Baytech Plastics” (Zinni, Mathis and Jackson, 2011, p.86), the company is committed
Words: 651 - Pages: 3
Administration Concepts Dr. Michael Provitera 2/26/2014 Chauvaunia Goodman 1. Introduction Employee motivation can be regarded as one of the key practices for an organization to build long-term sustainability in any respective business industry. In relation to the recent phenomenon, the performance of employees significantly depends upon a number of factors including employee motivation, employee satisfaction, performance appraisal, compensation, training and development (T&D) along with
Words: 4333 - Pages: 18
Theses/Dissertations/Professional Papers/Capstones 5-1-2007 Manager retention and the Steamboat Ski Resort Michael D. Gumbiner University of Nevada, Las Vegas Follow this and additional works at: http://digitalscholarship.unlv.edu/thesesdissertations Part of the Hospitality Administration and Management Commons, and the Work, Economy and Organizations Commons Repository Citation Gumbiner, Michael D., "Manager retention and the Steamboat Ski Resort" (2007). UNLV Theses/Dissertations/Professional
Words: 9335 - Pages: 38
Employee retention means the plans and strategies use to make the valuable employees not to leave their job. Most of the multinational concerns are facing problem in the retention of employees..In this research proposal iam going to study how Riordan manufacturing group can retain their employees. Retention of employees will give a lot of benefit to the concern: The employee retention will help a concern to get good turnover, will help to avoid interruption in service, to keep up the goodwill, to
Words: 1990 - Pages: 8
Employee Retention Executive Leadership BY: Michael D. Jackson Assistant Fire Chief Department of the Air Force Mercury NV An applied research paper submitted to the National Fire Academy as part of the Executive Fire Officer Program March 1999 2 ABSTRACT Over the last five years (1993-1998), twenty-one members of the Range Complex Fire Department (RCFD) have left for various reasons. The problem is that because of a reduced personnel budget the department has not been allowed to replace
Words: 5356 - Pages: 22
Advantages will benefit the company when the retention rate of the company is high 4 2.2 The activities that the company provides to their employees --------------5 2.3 The problems or barriers that company faced to ensure the higher retention rate---------------------------------------------------------------------------------------------8 2.4 The factors that will affect employees to retain--------------------------------9 2.5Relationships between retention rate and performance of the company-10
Words: 9610 - Pages: 39
