The importance of retention in an organization

Workers or the employees are the greatest assets for any business which are far from being a liability. Attrition is basically defined as reduction in the number of workers through various reasons like resignation, retirement, death, etc. This takes place due to non fulfillment of the expectations of the workers from the organization in return of all the services provided to them. This is to some extent natural for any organization. There are few reasons which can be behind the attrition. They are ambitions, further career aspirations, inadequate training and inefficient management, family mobility, conflicts between job strategies and goals, role stress, lack of scope for growth in terms of position salary, lack of innovation, excitement, lack of challenges, management styles.

The organization especially in the field of IT needs to completely change its policies regarding the retention of manpower.  It is often seen that the employees sticking to same organization more loyal to the organization and management. As the employees working for a longer span of time are more familiar with the organizations policies and guidelines. As the reasons for employees leaving the organization are mainly low salary, less benefits,  lack of work life balance, not having a good working environment, dissatifaction with management,etc. the important thing is to know the main reasons of employees leaving the organization and then constructing sound policies accordingly to improve the retention . The ways of improving the retention is to have good periodical appraisals,  have sound policies, maintain a healthy work life balance and most important to have a system where the employees can go for their grievances and the prompt redressal to their grievances. It is therefore important for the managers to have  developed leadership training model in which the leader is able to look forth in the grievances of its employees. The organization should promote diversity and creativity. The organization should make their employees feel valued and important in the organization.

They should be attracted and retained in the best possible way and provided them with encouragement that would make them feel that they are an integral part of the company’s mission. The management should consider and understand the difference between the valuable worker and the worker who doesn’t contribute much effort to the work and the organization. Thus, sincere efforts should be made by the organization to encourage the workers so that they stay happy and satisfied in the current organization and do not look for a change and other opportunities available in the job market. Thereby, the organization would not only retain the employee but will have a team of loyal and well experienced workers in their team and which would not only increase the productivity but will also build the goodwill of the organization in the long run.

By Ms Aditi Joshi

Assistant Professor

JIMS Kalkaji

Ms. Aditi

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