Employee Retention
STRATEGIES EXPLAINED
MOHAMED ASHRAF
RIT DUBAI Employee retention is explained by Hytter (2007) as a company’s ability to keep an experienced and educated employee for themselves, this topic according to Hytter (2007) has become one of the more heavily discussed topics since the late 20th century. Companies discovered that it is much cheaper to keep an employee for a long time rather than spending money and expending resources to train new employees for the same task.
According to Mitchell, Holtom and Lee (2001), top-level executives and HR spend a large sum of money, effort and time to figure out how to retain more employees. They continue to argue that different strategies make different employees stay according to their …show more content…
But, that does not mean that each kind of company has its own approach of the same issue.
Izzo and Withers (2002) approach for employee satisfaction took a hospital as the place for the study where this approach would be the most suitable, Soundarapandiyan, & Ganesh (2015) make it possible to approach the information technology industry with the same method as Izzo and Withers.
The Izzo and Withers method should prove the most efficient and cost-effective method to companies that have harsh work and a busy work environment. If companies can make their employees feel worthy by providing the right motivators in order to retain their employees for long periods.
The second method mentioned, which can be called the benefits method, Balakrishnan, and Vijayalakshmi (2014) mention how this strategy is good for employees in the educational institutions. But, according to Frigo, and Ubelhart, (2016), they both agree and appreciate how much adding benefits to employees affects the employee’s behavior and feelings in their work, they said that all high preforming companies owe their success to their …show more content…
L., & Ubelhart, M. C. (2016). Human capital management: The central element of all risk. People & Strategy, 39(1), 42-46.
Hee, C. H., & Ling, F. Y. (2011). Strategies for reducing employee turnover and increasing retention rates of quantity surveyors. Construction Management & Economics, 29(10), 1059-1072. doi:10.1080/01446193.2011.637569
Hutchinson, S. T., Villalobos, J. R., & Beruvides, M. G. (1997). Effects of high labour turnover in a serial assembly environment. International Journal Of Production Research, 35(11), 3201-3223. doi:10.1080/002075497194354
Hytter, A. (2007). Retention strategies in France and Sweden. Irish Journal Of Management, 28(1), 59-79.
Izzo, J., & Withers, P. (2002). Winning employee-retention strategies for today's healthcare organizations. Hfm (Healthcare Financial Management), 56(6), 52-57.
Mitchell, T. R., Holtom, B. C., & Lee, T. W. (2001). How to keep your best employees: Developing an effective retention policy. Academy Of Management Executive, 15(4), 96-108. doi:10.5465/AME.2001.5897929
Presbitero, A., Roxas, B., & Chadee, D. (2016). Looking beyond HRM practices in enhancing employee retention in BPOs: focus on employee–organisation value fit. International Journal Of Human Resource Management, 27(6), 635-652.
STRATEGIES EXPLAINED
MOHAMED ASHRAF
RIT DUBAI Employee retention is explained by Hytter (2007) as a company’s ability to keep an experienced and educated employee for themselves, this topic according to Hytter (2007) has become one of the more heavily discussed topics since the late 20th century. Companies discovered that it is much cheaper to keep an employee for a long time rather than spending money and expending resources to train new employees for the same task.
According to Mitchell, Holtom and Lee (2001), top-level executives and HR spend a large sum of money, effort and time to figure out how to retain more employees. They continue to argue that different strategies make different employees stay according to their …show more content…
But, that does not mean that each kind of company has its own approach of the same issue.
Izzo and Withers (2002) approach for employee satisfaction took a hospital as the place for the study where this approach would be the most suitable, Soundarapandiyan, & Ganesh (2015) make it possible to approach the information technology industry with the same method as Izzo and Withers.
The Izzo and Withers method should prove the most efficient and cost-effective method to companies that have harsh work and a busy work environment. If companies can make their employees feel worthy by providing the right motivators in order to retain their employees for long periods.
The second method mentioned, which can be called the benefits method, Balakrishnan, and Vijayalakshmi (2014) mention how this strategy is good for employees in the educational institutions. But, according to Frigo, and Ubelhart, (2016), they both agree and appreciate how much adding benefits to employees affects the employee’s behavior and feelings in their work, they said that all high preforming companies owe their success to their …show more content…
L., & Ubelhart, M. C. (2016). Human capital management: The central element of all risk. People & Strategy, 39(1), 42-46.
Hee, C. H., & Ling, F. Y. (2011). Strategies for reducing employee turnover and increasing retention rates of quantity surveyors. Construction Management & Economics, 29(10), 1059-1072. doi:10.1080/01446193.2011.637569
Hutchinson, S. T., Villalobos, J. R., & Beruvides, M. G. (1997). Effects of high labour turnover in a serial assembly environment. International Journal Of Production Research, 35(11), 3201-3223. doi:10.1080/002075497194354
Hytter, A. (2007). Retention strategies in France and Sweden. Irish Journal Of Management, 28(1), 59-79.
Izzo, J., & Withers, P. (2002). Winning employee-retention strategies for today's healthcare organizations. Hfm (Healthcare Financial Management), 56(6), 52-57.
Mitchell, T. R., Holtom, B. C., & Lee, T. W. (2001). How to keep your best employees: Developing an effective retention policy. Academy Of Management Executive, 15(4), 96-108. doi:10.5465/AME.2001.5897929
Presbitero, A., Roxas, B., & Chadee, D. (2016). Looking beyond HRM practices in enhancing employee retention in BPOs: focus on employee–organisation value fit. International Journal Of Human Resource Management, 27(6), 635-652.