This page of the essay has words. Download the full version above. The success and survival of organizations depends upon the performance and satisfaction of their employees and hence organizations have to meet their demands in order to retain their talent. The unprecedented nature of business which is characterized by dynamic working environment, fast changing global economy, technology driven business, and cut throat competition has resulted in creating more and more avenues and opportunities for employees and also at the same time has posed a challenge before the organizations in attracting, developing and retaining their employees. Akindele viewed employee retention as a process in which the employees are encouraged to remain with the organization for maximum period of time or until the completion of the project. In other words, employee retention is a process of techniques and strategies being employed by organization with the motive of inducing their employees to stay and remain in the organization for the longer period of time.
Thesis Statement on Employee retention | Category: Management
Employee retention is very important to organizations. If employees can not be retained, the company will have to invest money for training new employees time and time again. The cost of replacing an employee is high not only financially, but in terms of lost productivity, the time taken by the employer to go through the resumes and the cost incurred to conduct interviews.
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