Retaining Your Employees
An organization is a type of social entity comprised of a group of people working together towards a common goal. The employees are the most important asset for any firm or organization, as without employees firms and organization will be reduced to nothing more than just a name. A collection of employees will not only make an organization, but they provide the organization a competitive edge.
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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.
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A company, organization, or firm’s ability to retain or keep its employees is what’s called Employee retention. Employee retention is not as easy as it may sound and will require some strategic moves. This means, companies need good plans and policies in order to keep their employees. But the best way to address a problem is to know it’s roots, that is why the best way for an organization to keep its employees is for them to know the reasons why they want to leave.
Reasons as to why an employee would leave an organization:
Pay -A very obvious reason as to why someone would want to get out of an organization or firm is money. To earn money is the main reason 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.
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General Lack of Motivation: Motivation is what drives and encourages employees to work hard to achieve targeted goals. Employees need motivation to boost morale, be it monetarily or through other means. The passion to work hard is very important. And what better way to provide that than motivation.
Improper management: Management is very important when it comes to employee retention Lack of managerial skills will only cause the number of employees drop down at a constant rate. 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. Its absolutely necessary for managers to hear the voice of the employees, listen to their problems and help provide a better solution.
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.
Keeping employees is hard work, but not that replacing an employee is 3 times as expensive as their salary, this means it’s actually better keep them.
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