The neutrality of this article is disputed. Relevant discussion may be found on the talk page. Please do not remove this message until conditions to do so are met.(October 2023) (Learn how and when to remove this message)
Employee retention is the ability of an organization to retain its employees and ensure sustainability. 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). Employee retention is also the strategies employers use to try to retain the employees in their workforce.[1]
A distinction should be drawn between low-performing employees and top performers, and efforts to retain employees should be targeted at valuable, contributing employees. Employee turnover is a sign of deeper issues that have not been resolved, which may include low employee morale, absence of a clear career path, lack of recognition, poor employee-manager relationships or many other issues. A lack of job satisfaction and commitment to the organization can also cause an employee to withdraw and begin looking for other opportunities. Pay sometimes plays a smaller role in inducing turnover as is typically believed.[2]
In a business setting, the goal of employers is usually to decrease employee turnover,[3] thereby decreasing training costs, recruitment costs and loss of talent and of organisational knowledge. By implementing lessons learned from key organizational behavior concepts, employers can improve retention rates and decrease the associated costs of high turnover. Some employers seek "positive turnover" whereby they aim to maintain only those employees whom they consider to be high performers.
In today's environmental conscious behavior society, companies that are more responsible towards environment and sustainability practices can attract and retain employees. Employees like to be associated with companies that are environmentally friendly.[4]
^"What is Employee retention".
^Allen, D.G. (2008). Retaining Talent. Retrieved from "The resource cannot be found".
^Main, Kelly (12 October 2022). "Employee Turnover rate - Definition and Calculation". Forbes.
^Wisker, Zazli Lily; Kwiatek, Piotr (2019-04-23). "Environmental orientation and employee-based brand equity in 4 to 5-star hotels". Anatolia. 30 (3): 404–419. Bibcode:2019Anato..30..404W. doi:10.1080/13032917.2019.1604393. ISSN 1303-2917. S2CID 169947915.
and 25 Related for: Employee retention information
Employeeretention is the ability of an organization to retain its employees and ensure sustainability. Employeeretention can be represented by a simple...
The EmployeeRetention Credit (ERC), sometimes called the EmployeeRetention Tax Credit (ERTC), is a U.S. federal tax credit that was available to certain...
Memory and retention in learning Selective retention Cultural retention Customer retention University student retentionEmployeeretention, the ability...
500 employees. After one year, 200 of the 500 employees were still working for the company. The retention rate is 200/500 = 40%. Employeeretention Turnover...
importance as drivers of employee happiness and engagement. Showing employees appreciation can result in a company's higher retention rate, not only increasing...
hiring. The process of retaining employees to work in the organization on a long-term basis is defined as employeeretention (Sen, 2019). Organizational resources...
issues like employeeretention, compliance with labor laws, and other workforce management challenges. A theoretical underpinning of an employee scheduling...
recruitment, development, and retention. Talent management is positively associated with employeeretention. Talent retention is the ability of an organisation...
(2005) defines retention management as “a systematic effort by employers to create and foster an environment that encourages current employees to remain at...
4 million in cash, with $9.8 million of that to be set aside for employeeretention. Initially called Radiate, Loopt began with funding from Y Combinator...
high-involvement management practices were positively associated with employee morale, employeeretention, and firm financial performance. Watson Wyatt found that...
have documented that onboarding process is important to enhancing employeeretention, improving productivity, and fostering a positive organizational culture...
plan). 3. Employeeretention – retention is not a primary objective of bonus plans, yet bonuses are thought to bring value with employeeretention as well...
training, development programs and potential career development to its employees. Employment opportunities which open up within the company are usually...
loyalty to the organization. Managing for employeeretention involves strategic actions to keep employees motivated and focused so they remain employed...
Alexandra. "How Rachel Carlson Has Built Guild Education Into A Tool For EmployeeRetention — And A $500 Million Fortune". Forbes. Retrieved August 7, 2021. "Rachel...
colleagues. Damaging employee morale Delay in every task Reduced ownership Declined employeeretention Increased stress among employees Abusive power and...
that influence employeeretention. It can be distinguished from turnover in that its emphasis is on all of the factors that keep an employee on the job,...
2 billion in 2018. In 2015 it had 91% employeeretention rate (with industry average of 68%). Customer retention rate increased from 91% to 95% and company...
handcuffs come in different forms, such as employee stock options or restricted stock, which endow only when the employee has been with the company or organization...
activities. According to their website, their core services have included: EmployeeRetention Credit (ERC) Research and Development Tax credit Energy-efficient...
for the cost of the tax bill, a provision was included to halt the employeeretention tax credit (ERTC), a pandemic-era employer tax benefit that cost the...
benefits. The purpose of employee benefits is to increase the economic security of staff members, and in doing so, improve worker retention across the organization...
Job satisfaction, employee satisfaction or work satisfaction is a measure of workers' contentment with their job, whether they like the job or individual...
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers...