Employee retention program Introduction Employee retention and turnover is an important subject for

Employee retention program

Introduction

Employee retention and turnover is an important subject for
human resource managers to address The money, time and effort put into the
recruiting and training process can easily be wasted if the organization is
dealing with excessive turnover

Through extensive research, this paper will focus on:

• Developing a retention program What factors must be taken
into consideration to develop an effective program?

• Utilizing effective exit interview strategies Determining
the reasons why the employee left may help to identify problems within the
organization that need correcting/tweaking

• Common reasons for turnover What are the most common
reasons for employee turnover and how can this knowledge be used to an
organization’s advantage?

• Costs and benefits of turnover What factors go into
determining the turnover cost to the organization? (Voluntary vs non-voluntary
turnover will be discussed as well)

Conclusion

Reducing the rate of turnover is an important factor for
almost every organization By identifying the reasons behind employee turnover
and developing a successful retention program are the most effective ways to
reduce turnover, and also has other residual benefits that contribute to making
the company more successful