Best Practices for Improve Employee Retention

Abstract

The company is dealing with a challenging issue related to staff retention. The best strategies for raising employee retention in a company were the main topic of this study. Your best asset of the organization is Workforce. Managers need to realize that employee satisfaction has to be negotiated or there will be no people around with whose labour the salaries can be paid. Ascertain the reasons behind staff attrition and implement strategies to mitigate them. The purpose of this study is to illustrate the significance of employee retention in the contemporary workplace, the ramifications that arise when businesses fail to acknowledge this need and do not take immediate action to address it, what those consequences would be, and how they would impact company and the sector. Employee dissatisfaction is a serious problem that raises the likelihood of employment shift in the service industry. It is advisable to take the viewpoint of the employees into account, even if companies are investing a significant amount of money in HR practices to lower turnover. The purpose of the study is to define particular goals: In order to comprehend the relationship between employers and employees, the study model includes independent components such as job security, quick promotions, travel allowances, and incentives for reaching targets. The research design used in the study was descriptive. 88 employees were included in the project’s sample size. Questionnaires were used to gather data. Following the collection of questionnaire responses, the data was analyzed and converted into Excel tables and pie charts. After that, the data was analyzed to determine how recognition encourages participation, creativity and originality, consistency in performance, and communication. Employee retention will be significantly increased by organizational dedication, a positive work environment, and a disciplined approach that includes rewards and recognition for targets met. SPSS was used to present the data. Ultimately, conclusions were drawn from the analysis.