Retention Management Essay

1275 words - 6 pages

Employee retention has always been an important focus for human resource managers. Once a company has invested time and money to recruit and train a good employee, it is in their own best interest to retain that employee and to further develop and motivate them so that they continue to provide value to the organization. However, employers must also recognize and tend to what is in the best interest of their employees, if they intend to keep them. When a company overlooks the needs of its employees and focuses only on the needs of the organization, turnover often results. Excessive turnover in an organization is a prime indicator that something is not right in the employee environment. For ...view middle of the document...

Voluntary turnover is initiated by the employee; for example, a worker quits to take another job. Involuntary turnover is initiated by the organization; for instance, a company might dismiss an employee due to poor performance or an organizational restructuring. No matter what the case may be, voluntary and involuntary turnover require significantly different management techniques; however, involuntary turnover tends to follow fairly standard procedures. On the other hand, in order to manage voluntary turnover in an organization, you need an in-depth understanding of why employees leave or stay with organizations and strategies for managing turnover among valued workers in a company.

Turnover, undoubtedly, is a complex process. Mobley (1997) found that some individuals quit a job on impulse but most people who leave spend time initially evaluating their current job against possible alternatives and developing intentions about what to do while engaging in various types of job search behaviors. Generally, this sequence of events is triggered by an individual’s dissatisfaction with their job. Dissatisfaction with one’s job may have different meanings for different people. For example, an employee might leave a job because of the lack of opportunity for growth and development. Other employees may leave due to the feeling of not fitting in with the company culture. However, one of the most common reasons an employee is compelled to leave a company is due to a disgruntled relationship with their managing superior.

Alternatively, the theory of organizational equilibrium can be studied to help gain some insight as to why employees stay with a company. According to this theory, an individual will stay with an organization as long as the incentives it offers are equal to or greater than the contributions required of the person by the organization (March & Simon, 1958). Moreover, some recent studies have examined the ways in which employees become embedded in their jobs and their communities (Mitchell, Holtom, Lee, Sablynski, & Erez, 2001). As employees partake in their professional and community life, they develop a network of connections and relationships on and off the job. Thus, leaving a job would mean having to sever or rearrange some of those connections. Consequently, employees who have many connections are more embedded, and have numerous reasons to stay in an organization. Of the many relationships employees may come to have, they tend to establish connections that foster three different types of embeddedness: “links”, “fit”, and “sacrifice” (Mitchell, Holtom, Lee, Sablynski, & Erez, 2001).

Links can be defined as connections with other people, groups, or organizations; for example, relationships with co-workers (Allen, 2006). Employees with numerous links to others in their organization are more embedded and would find it more difficult to leave. Fit represents the extent to which employees see themselves as compatible with their job,...

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