Employee Retention Techniques Essay

7812 Words Dec 25th, 2010 32 Pages
Chapter - i INTRODUCTION OF THE STUDY

1 CHAPTER I
INTRODUCTION OF THE STUDY
1. Introduction

The project work titled, “A Study on Employee Retention Techniques among employes in Salem District Milk Producers Union Limited”. The main objective of this study is to evaluate the employee turnover level of the company. Employee is not an economic factor but a total personality having his own feelings and a sense of responsibilities towards his family, the industry and the nation. The worker has a vital role in increasing productivity and management has to create conditions in which worker can make their maximum contribution towards the objectives of fulfilling the essential
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In addition, a low employee retention rate drags down employee morale, hampers long-range planning and negatively impacts customer opinion. If a company can't keep its best employees, then it gains a reputation as a bad place to work and a company others don't want to do business with. Business owners need to put an employee retention plan in place to keep and recruit top employees. Although money plays a part in retention of employees, you might be surprised to learn that it's not the most important factor in employee retention.
1. Clear communication of job requirements and performance expectations.
2. Efficient use of your employees' skills and talents.
3. Appropriate training and supervision.
4. Opportunities for employees to learn new skills and advance in the company.
5. Consistent rewards and recognition for employee performance.

8
A few methods to reduce labor turnover are as follows:
1. Improve factory –working conditions
2. Handle workers grievances faithfully.
3. Don’t abuse or fire workers for petty matters.
4. Try to minimize fluctuations in the work.
5. Give appropriate wages and incentives to the workers.
6. Take care of employees’ health and welfare.
7. Adopt safety and good house keeping practices.
8. Motivate the employees and try to light up their morale.
9. Be impartial in the matters of promotion and Transfers.

2.1.1 EMPLOYEE RETENTION MEANING:
Employee retention involves taking

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