An organization is a type of social entity comprised of a group of people working together towards a common goal. And organization or firm is nothing but just a name without its most valuable asset, its employees as the employees are what allows the company to achieve its goals and hit target results. A group of employees will not only form an organization, but they are the ones who give the organization a certain competitive advantage.
You can see more here.
Higher tier employees like managers all the way down to the humbler ones such as foremen are what allows companies to have a great competitive advantage over other organizations. They contribute all their skills, speed, efficiency, behavior, capabilities and etc to help an organization execute any strategy required to move forward. This is why organizations need to treat employees better and to retain them as they are what allows the company to move on forward and achieve goals.
If you want more info, read more here.
Employee retention literally means the company, organization, or firm’s ability to keep or retain its employees. Employee retention requires certain strategies to follow. This means, companies need good plans and policies in order to keep their employees. As they say the best way to solve a problem is to work on its source, thus, to keep employees an organization should know why they want to leave in the first place.
Reasons why an employee might want to leave:
Salary -A very clear reason as to why employees choose to leave an organization is salary. Money is the biggest motivating factor as to why people work in the first place. People work to get paid, so naturally an underpaid employee would want to find another job that pays better if they are not satisfied with their current salary.
You can click here for more info about this service.
Low Morale : Motivation is the personal encouragement of an employee to chase goals and achievements. Motivation is the main driving force thus it’s only proper that employees get motivated from time to time be it through monetary means or not. The passion to work hard is very important. That is what motivation provides best.
Lack of Proper Management: Managerial skills is what makes employees want to stay. Inefficient managers will only cause employees to leave on a regular basis. Managers don’t have to always be strict and stern towards their employees at all times, there are some situations where politeness is best suited. Managers need to provide employees better solutions to problems, and to do so they need to hear them out.
These are just common reasons as to why employees, there are other personal reasons as to why an employee might want to leave and go about looking for another job.
To have an employee replaced is 3 times more expensive than their salary, although it might be hard its actually better to keep them around.
Click here for more info.