research papers on employee retention strategies pdf

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STUDY OF EMPLOYEE RETENTION

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Organizations strive for high productivity, which is dependent strategic aligning to organization objective. Human capital is one of the most important resources that can be used to create that competitive edge increasing organization to production. Human capital can then be motivated through employee retention strategies which involves employee development or compensation strategies. The study is concern in the two strategies of employee retention hence it investigates whether organization should go for employee development strategy or compensation strategy in order to increase productivity. This study specific objective is to investigate effect of training, career development and compensation strategies on the productivity of the organization. Vrooms’ expectancy theory and job embeddedness theory was linked with the employee retention strategies. Descriptive research design was utilized. Target population consisted of 223 employees where a sample of 69 employees were selected from banks in Kericho namely KCB, Cooperative, DTB, Sidian, Family, Chase and Equity bank. Regression analyses were used to substantiate which strategies was the most appropriate as job retention strategy. The research found that most employee were motivated through compensation hence had positive significant contribution to organization performance. It had also the highest beta coefficient which was the most appropriate employee retention strategy. Training and career development had positive contribution to organization production but training was found not to be a significant as job retention strategy on organization productivity. Career development was significant but was rate to have low effect to production as compared to compensation. The paper found that it is important to consider compensation as job retention strategy which results to higher organization productivity. Organizations that pay their employees well results to high productivity than the counterpart organization. Training and career development may come later after compensation.

Earlier research studies indicate that employee retention is a challenging task for the organizations in todays scenario of competitive business environment. Manpower became a powerful tool for the growth of the organization and sustainability. Proper human resource management initiatives should be adopted by the organizations in order to decrease the employee turnover. The importance and trouble faced by the organizations in attracting the skilled employees and efforts to retain the skilled are the same. This paper explains the importance of employee retention in the growth of the organization and achieving the competitive advantage over the competing firms. The retention strategies should be formulated in such a way that the organizations grow with greater efficiency and innovation and achieve long lasting strategic business objectives. When an organization loses a talented employee there is a huge negative impact on innovation and services provided. The standard of the services provided by the organization declines which in turn affects the organizations growth and profitability. The impact of employee turnover affects the other HR functions like manpower planning, recruitment, selection training etc. It is observed from the past studies that when employees are satisfied with the organizations retention strategies they are more dedicated in doing their jobs and work for the organizations growth and sustain the advantage of competitiveness over the rivals.

Human Resource is an important resource for an organisation .Now a days retaining an employee in an organisation is a greater challenge for HR managers .They have to choose suitable person with a required experience and ability, to fill up the vacancies in theorganisation. Hiring new talents involves recruitment & training cost plus loss of talents. By retaining employee in the organisation we can save our time& energy and also it is a cost benefit method. It also enhances the productivity and efficiency therefore it is essential to protect this human capital as motivated & talented human asset playan overall growth& development in an organisation. This study focus on all aspect of employee and also to understand various strategies adopted in an organisation to retain the employee.

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 organization kept 80% of its employees in a given period). Doing all the best efforts in order to maintain such a working environment which supports the existing employees to remain in the company, while recognizing their abilities and contribution and implementing suitable reward and recognition strategies is always appreciable and one of the most important things that a business management can do to retain its employees. INTRODUCTION In today's competitive business world, employee retention has become a major concern. It is important for any business organization to implement employee retention strategies to manage employee turnover effectively and efficiently. It must be noted that a high turnover indicates that a company is losing a high percentage of employees as compared to the number of employees who have been hired already. It is also an indication of not doing proper job selection and not creating an environment which helps employees to stay within the organization for a longer period of time. However, a high level of turnover is undesirable for an organization for a number of reasons and affects an organization in many ways causing poor performance, low employee morale, low productivity and the major loss of revenue that comes from the decreased sales.

Fiore I., Lugli F. (eds.). Dogs, Past and Present: An Interdisciplinary Perspective, 2023

The paper focuses on Greek epitaphs set up for dogs and attempts to demonstrate the kind of data that can be extracted from such texts. It analyses the texts of canine epitaphs and compares them not only to similar Latin inscriptions and literary evidence, but also to Greek funerary inscriptions set up for humans, as the structure of the canine epitaphs is often similar to the structure of human ones. Topics such as dog names and 'professions' are also touched upon in the paper, and it is concluded that dog owners seem to have named their dogs in a similar manner to how they have named their slaves and have adopted a pattern of expressing their grief over the loss of a pet from the epitaphs commemorating the deaths of dependent members of their households.

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