Keeping your staff: a guideline for successful retention strategies
Abstract views: 98 / PDF downloads: 112
DOI:
https://doi.org/10.31039/plic.2024.10.211Keywords:
Retention, strategies, turnoverAbstract
Employees are a major asset and the key to a company's success. Therefore, companies should do their best to retain them. However, the rise in employee turnover has been a challenge for companies worldwide. Some factors lead to such a condition, including high-stress levels, poor employee commitment, and poor remuneration. This study surveyed employees from diverse global industries to identify factors that lead to employee retention and turnover as well as determine retention strategies.
References
Ahmad, Faraz; Alam, Imran (2022). Job satisfaction of Employees: Issues and Challenges. International Journal of Advances in Engineering and Management, 4 (4), 286-290. https://ijaem.net/issue_dcp/Job%20satisfaction%20of%20Employees%20%20Issues%20and%20Challenges.pdf
Argote, Linda; Epple, Dennis (1990). Learning Curves in Manufacturing.Science 247 (4945), 920-924. https://doi.org/10.1126/science.247.4945.920
Ashton, Charlotte (03 January 2023). Centre stage. Esphr. https://esphr.co.uk/resources/predicting-hr-challenges-in-2024-retaining-talent-takes-centre-stage/
Batish, Amit; Gordon, Andrew; Kepler, John; Larcker, David F.; Tayan, Brian; Yu, Courtney (2021). Human Capital Disclosure: What Do Companies Say About Their 'Most Important Asset'? Rock Center for Corporate Governance at Stanford University Working Paper Forthcoming. https://ssrn.com/abstract=3840412
Cascio, Wayne; Boudreau, John W. (2008). Investing in people: Financial impact of human resource initiatives, Prentice-Hall, Upper Saddle River, NJ: FT Press.
Chambers, Elizabeth G.; Foulon, Mark; Handfield-Jones, Helen; Hankin, Steven M.; Michaels, Edward G. (1998). The War for Talent. The McKinsey Quarterly, 3 (3), 44-57. https://doi.org/10.4018/978-1-4666-1601-1.ch001
Choudhary, Supriya (2016). A Study on Retention Management: How to Keep Your Top Talent. International Journal of Advanced Research in Management and Social Sciences, 5 (3), 17-31. https://garph.co.uk/IJARMSS/Mar2016/2.pdf
Closing the Skills Gap: What Workers Want (2020). ManpowerGroup. https://workforce-resources.manpowergroup.com/white-papers/closing-the-skills-gap-know-what-workers-want#main-content
Cloutier, Omer; Felusiak, Laura; Calvin, Hill; Pemberton-Jones, Enda Jean (2015). The importance of developing strategies for employee retention. Journal of Leadership, Accountability and Ethics, 12 (2), 119-129.
Dziuba, Szymon; Ingaldi, Manuela; Zhuravskaya, Marina (2020). Employees’ Job Satisfaction and their Work Performance as Elements Influencing Work Safety. System Safety Human - Technical Facility – Environment, 2 (1), 18-25. https://doi.org/10.2478/czoto-2020-0003
Employee Retention & Attraction (n.d.), Gallup. https://www.gallup.com/467702/indicator-employee-retention-attraction.aspx
Ghosh, Piyali; Satyawadi, Rachita; Joshi, Jagdamba; Shadman, Mohd (2013). Who stays with you? Factors predicting employees' intention to stay. International Journal of Organizational Analysis, 21 (3), 288-312. https://doi.org/10.1108/IJOA-Sep-2011-0511
Keller, Scott (November 24, 2017). Attracting and retaining the right talent. McKinsey. https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/attracting-and-retaining-the-right-talent
Lazzari, Matilde; Alvarez, Jose; Ruggieri, Salvatore (2022). Predicting and explaining employee turnover intention. International Journal of Data Science and Analytics, 14 (3), 279–292. https://doi.org/10.1007/s41060-022-00329-w
Ramlall, Sunil (2004). A review of employee motivation theories and their implications for employee retention within organizations. Journal of American Academy of Business, 9, 52-63.
Schlechter, Anton F.; Syce, Chantal; Bussin, Mark (2016). Predicting voluntary turnover in employees using demographic characteristics: a South African case study’, Acta Commercii 16 (1), Article number 274, 10 pages.
http://dx.doi.org/10.4102/ac.v16i1.274
Scott- Ladd, Brenda; Travaglione, Anthony; Marshall, Verena (2006). Causal Inferences between Participation in Decision Making, Task. Attributes, Work Effort, Rewards, Job Satisfaction and Commitment. Leadership and Organizational development Journal, 2 (5), 399-414. https://doi.org/10.1108/01437730610677990
Sinha, Chandranshu; Sinha, Ruchi (2012). Factors Affecting Employee Retention: A Comparative Analysis of two Organizations from Heavy Engineering Industry. European Journal of Business and Management, 4 (3), 145-162. https://www.iiste.org/Journals/index.php/EJBM/article/view/1324
Sultana, Nazia; Begum, Bushra (2013). Employee Retention Practices in Indian Corporate – A study of select MNCs. I.J.E.M.S., 4 (3), 361-368.
Tracey, Bruce J.; Hinkin, Timothy R. (2006). The costs of employee turnover: when the devil is in the details. The Center for Hospitality Research, Cornell University. https://ecommons.cornell.edu/items/af07c95a-83d7-4754-988b-df18c884d890
Witt, Alan L; Myers, Jennifer G. (1992). Perceived environmental uncertainty and participation in decision making in the prediction of perceptions of the fairness of personnel decisions. Review of Public Personnel Administration, 12 (3), 49-56
Yeasin, Muhammad (2023). Reasons, Impacts and Retention Techniques for Employee Turnover: A Literature Review. EPRA International Journal of Multidisciplinary Research (IJMR), 9 (2), 209–213. https://eprajournals.net/index.php/IJMR/article/view/1523
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Christina Schabasser
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
You are free to:
Share: copy and redistribute the material in any medium or format. The licensor cannot revoke these freedoms as long as you follow the license terms. Under the following terms: Attribution-NonCommercial-NoDerivatives-No additional restrictions.
Authors retain copyright and agree to license their articles with a Creative Commons Attribution-NonCommercial-