Employee retention refers to the policies and practices companies use to stop their competent and valuable employees from leaving their jobs.
Employee retention strategies help organizations provide effective employee communication to improve commitment and enhance workforce support for key corporate initiatives
For smooth functioning of the organization skilful, experienced, and competent employees are required
2. CONTENTS
• INTRODUCTION
• OBJECTIVES OF STUDY
• RESEARCH METHODOLOGY
• EMERGING TRENDS IN EMPLOYEE RETENTION
STRATEGY
• CHALLENGES IN EMPLOYEE RETENTION
• CONCLUSION
3. INTRODUCTION
• Employee retention refers to the policies and
practices companies use to stop their competent and
valuable employees from leaving their jobs.
• Employee retention strategies help organizations
provide effective employee communication to
improve commitment and enhance workforce
support for key corporate initiatives
• For smooth functioning of the organization skilful,
experienced, and competent employees are required
4. OBJECTIVES OF STUDY
• To identify how retention strategies reduced
employee turnover.
• To study the current trends in employee retention
strategies
• To study the challenges involved in employee
retention.
5. RESEARCH METHODOLOGY
• Secondary Data
• Case study of TCS and Infosys company for
understanding current trends in employee retention
strategy.
7. REASONS EMPLOYEE LEAVE
1. No Recognition
2. Work pressure
3. Employee expectation
not fulfilled
4. No scope for professional
development
5. Lack of trust/ confidence in
senior leaders
6. Organizational Climate
7.Role expectations not
clear
8. Salary
9.Support from coworkers/
management is lacking
10.Personal reasons
9. WHY EMPLOYEE RETENTION STRATEGIES?
The high rate of employee turnover possess several
problems in front of management such as in terms of
monetary aspects
high cost of recruitment and selection
decreased morale of existing or remaining employees,
high cost and time of training programmes for new
employees
lower productivity of new employees
10. WHY EMPLOYEE RETENTION
STRATEGIES?
Non monetary aspect
• Impact on morale and
organization culture
• Reduced employee
engagement levels
• Impact on team dynamics
• Impact on corporate
reputation
• Loss of organization
information and
knowledge
Attrition rate for Q1 2018
11.80%
16.60%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
16.00%
18.00%
Attrition Rate
TCS
Infosys
11. EMERGING TRENDS IN EMPLOYEE RETENTION
STRATEGIES
• Establishment of strategic retention plan
• Employee participation in decision-making
• Personalized compensation plan, bonus issue, long
term incentives, health insurance.
• Change of project, role change, promotion, overseas
deputation.
• Career planning, training and development
programmes, growth opportunities.
• Work flexibility
• Reward and recognition
12. CHALLENGES IN EMPLOYEE RETENTION
• Monetary discontent is one of the major reasons for
the employees to leave an Organization
• Stopping employees to look for a job change is the
biggest challenge.
• Unrealistic expectations of the employees from their
jobs also force them to leave an organization
• At times employees don’t leave their company they
leave their boss.
13. CONCLUSION
• The process of retention is not an easy task.
• The basic purpose of employee retention strategies is
to increase employee satisfaction, boost employee
morale, so as to achieve employee retention.
• Relationships between employee and management
must be improved.
