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Mar 19, 2011 Essay

1092 words - 5 pages

LOVELY PROFESSIONAL UNIVERSITY
TERMPAPER HUMAN RESOURCE MANAGMENT
EMPLOYEE RENTENTION
NAME: SOURABH SHARMA
REGD: 10903798
ROLL NO: RR1908B31
SUBMMITED TO:MR.RAJEEV GUPTA

INTRODUCTION
Employee retention refers to the efforts by which employers attempt to retain employees in their workforce. In a business setting, the goal of employers is to decrease employee turnover, training costs, and loss of talent. By implementing lessons learned from key organizational behavior concepts employers can improve retention rates and decrease the associated costs of high turnover.

How To Increase ...view middle of the document...

The award can be in terms of gifts or money. 3. Career Development Program: Every individual is worried about his/her career. He is always keen to know his career path in the company. Organizations can offer various technical certification courses which will help employee in enhancing his knowledge. 4. Performance Based Bonus: A provision of performance linked bonus can be made wherein an employee is able to relate his performance with the company profits and hence will work hard. This bonus should strictly be productivity based. 5. Recreation facilities: Recreational facilities help in keeping employees away from stress factors. Various recreational programs should be arranged. They may include taking employees to trips annually or bi-annually, celebrating anniversaries, sports activities, et al. 6. Gifts at Some Occasions: Giving out some gifts at the time of one or two festivals to the employees making them feel good and understand that the management is concerned about them. |
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Content * 1 Valence and Retention * 2 Retention and Motivation Theory * 3 Herzberg's Theory * 4 Equity Theory * 5 See also * 6 References * 7 External links |
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Valence and Retention
In order to retain employees and reduce turnover managers must learn to align their goals with the end goals of employees. By aligning the rewards and needs of employees, managers can determine the proper reward system to most effectively increase job satisfaction of employees . Valence is the degree to which the rewards offered by an organization align with the needs employees seek to fulfill. High valence indicates that the needs of employees are aligned well with the rewards system an organization offers. Conversely, low valence is a poor alignment of needs with rewards and can lead to low job satisfaction and thereby increase turnover and decrease retention....

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