MBA

Employee Retention. Figure 1 Employee retention   (RobertHalf, 2022) Globalization has a stronger competition for quality employees. Employee retention refers to the process and strategies that an entity implements to keep its top talent by slimming the turnover risks. An employee turnover can be due to both external and internal factors. The HRM can only focus on the internal factors to maximize the employee retention. The company has to implement certain strategies which can motivate the employees so that they opt to retain with in the organizations. An extensive employee retention programme can be a key factor in retaining employees, which on the other hand can reduce the employee turn. These factors can enable an organization to save on recruitment cost, increase in productivity and positively impact on the business performance (SHRM, 2022) . Retention rate formula. (Remaining Headcount during Set Period ÷ Starting Headcount during Set Period) x 100 Effective measures to ...