Effectiveness of Employee Retention Strategies in Industry
Labour-Personnel economics e-journal
18 Pages Posted: 28 Oct 2012 Last revised: 1 Nov 2021
Date Written: October 27, 2012
Abstract
Retention of employees is an important function of the HRM. Unless there is a deliberate and serious effort from the management towards this direction, the competitors in the industry are likely to attract and snatch the talent already nurtured in the company over a period of time. Careful strategies for crafting and implementing employee retention strategies are a skill and should be given top priority by the management. This paper discusses the issues and solutions to address this problem with a case study. The results of the study indicate that retention strategies should be carefully worked out for different groups and levels.
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