A type of social entity that is composed of people with the same goal in mind is called an organization. And organization or firm is nothing but just a name without its most valuable asset, its employees as the employees are what allows the company to achieve its goals and hit target results. Not only will a group of employees make an organization, but they will also provide a good competitive edge.
More info in this site.
The employees can be on the higher tiers such as the likes of managers or something more humbler like foremen, but its these employees are what allows an organization have the ability to dominate other organizations. These employees have the skills, capabilities, behavior, efficiency, knowledge and etc required for any company to execute any plans. Thus, without the support of employees be it from the lowest position to the very top, an organization equates to nothing, so it’s the best that they are held on to and taken care of.
You can read more here for more info.
Employee retention is used to describe a company, firm, or organization’s ability to keep or retain its employees. Employee retention is not as easy as it may sound and will require some strategic moves. This means, companies need good plans and policies in order to keep their employees. But the best way to address a problem is to know it’s roots, that is why the best way for an organization to keep its employees is for them to know the reasons why they want to leave.
Reasons as to why an employee would leave an organization:
Pay -A very obvious reason as to why someone would want to get out of an organization or firm is money. To earn money is the main reason why people work in the first place. People work to get paid, so naturally an underpaid employee would want to find another job that pays better if they are not satisfied with their current salary.
Click this company for more information.
General Lack of Motivation: Motivation is the psychological factor that drives and encourages an employee to work hard to achieve desired goals. Motivation is the main driving force thus it’s only proper that employees get motivated from time to time be it through monetary means or not. The passion to work hard is very important. Motivation provides exactly that.
Improper management: Management is very important when it comes to employee retention Lack of managerial skills will only cause the number of employees drop down at a constant rate. Managers don’t need to be strict at all times, there are some situations that requires politeness. Its absolutely necessary for managers to hear the voice of the employees, listen to their problems and help provide a better solution.
The stated above are just the common reasons as to why employees leave an organization.
To have an employee replaced is 3 times more expensive than their salary, although it might be hard its actually better to keep them around.
Click here for more info.