A Study on Employee Retention in Automobile Sector
JOURNAL OF CRITICAL REVIEWS, VOL 7, ISSUE 11, 2020
7 Pages Posted: 1 Jul 2021
Date Written: 2020
Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee. Employees today are different. They are not the ones who don‘t have good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job, they switch over to the next job. Is the responsibility of the employer to retain their best employees? If they don‘t, they would be left with no-good employees. A good employer should know how to attract and retain its employees. Most employees feel that they are worth more than they are actually paid. There is natural disparity between what people think they should be paid and what organizations spend in compensation. When the difference becomes too great and another opportunity occurs, turnover can result. Pay is defined as the wages, salary, or compensation given to an employee in exchange for services the employee performs for the organization. Employees comprise the most vital assets of the company. In a work place where employees are not able to use their full potential and not heard and valued, they are likely to leave because of stress and frustration. In a transparent environment while employees get a sense of achievement and belongingness from a healthy work environment, the company is benefited with a stronger, reliable work-force harboring bright new ideas for its growth.
Keywords: Employee Retention, Automobile Sector, Human Resource Policy
JEL Classification: M10, M14, M12, Z22
Suggested Citation: Suggested Citation