What Is The Meaning of Employee Retention?


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 Employee Retention

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EMPLOYEE RETENTION
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project.

Retention involves five major things:

1.Compensation
Compensation includes salary and wages, bonuses, benefits, prerequisites, stock options, bonuses, vacations, etc.
2. Organisation environment
Organization environment includes :
* Culture
* Values
* Company reputation
* Quality of people in the organization
* Employee development and career growth
* Risk taking
* Leading technologies
* Trust
3. Growth And Career-
Growth and development are the integral part of every individual’s career. If an employee can not foresee his path of career development in his current organization, there are chances that he’ll leave the organization as soon as he gets an opportunity.
4.Relationship
To enhance good professional relationships at work, the management should keep the following
* Respect for employees
* Proper relationship amongst colleagues
* Ensure individual development
* Reward employee
* promote employee based culture
* 5.SUPPORT
Supervisor should support his subordinates in a way so that each one of them is a success. Management should try to focus on its employees and support them not only at work but also through the times of personal crisis.

 

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We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to contact@bms.co.in.

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