Companies Need to Retain Good Employees on Board: The Only Way to Inch Ahead in an Era of Neck & Neck Competition

Abstract

Particularly in present times, meaning hereby that from last more than two decades, due to phenomenal changes all round, issue of quality man power has become a variable having significant importance. The situation turned too much grave with the noticing of the phenomenon called recession since 2006 onwards for sure. Much like the employees who want to work for established and reputed companies known to have good work atmosphere besides fat pay package; the company’s quest for having best employees on board is of unending nature.

There is another issue of vital importance for companies which have been in business for more than half a decade as on date. The issue is of “How to Retain Good Employees already on the Board”. These times and issue have assumed a critical importance these days. This situation demands not only a highly qualified manager or individual with capacity and skill to address the issues mentioned, but also for taking care of various other needs of employees and their rights, by treating them as individuals and not forcing them to feel as if they happen to be cogs in machine.

Keywords: Human Resource Management, Retaining Employees, Reducing Employee Turnover, Recession Time, Facilities, Understanding Individuals as a Human Playing Numerous Roles & Not Just One

JEL Classification: M12, M51, M52, M54, J63, J53, J32, J28, J24, J23, D64, D63, B31