A Review of Employee Retention Strategies: Implication for Future Research

Kuuyelleh Esmond Naalu

doi:10.7176/ejbm/13-1-03

Abstract

Employee turnover is a global phenomenon that could be attributed to both work related and personal factors internal and external to an organization. This paper highlights key employee retention strategies and their implications. The paper highlights proactive measures as the primary strategy to employee retention which focus on employees’ intentions and subsequently the behavior of turnover. As a result, factors that promoted employees’ job satisfaction, organisational commitment and suitable work conditions are fundamental elements to staff retention. Keywords: Employee Retention Strategies, literature review, future research DOI: 10.7176/EJBM/13-1-03 Publication date: January 31 st 2021

Highlights

1.0 Introduction According to the International Labor Organization (ILO) (2020), improving organizational productivity entails minimizing employee attrition and training costs which involves managements’ framing suitable working conditions that ensure the attraction and retention of talents
Employee turnover is an organization-wide phenomenon that could be attributed to both work related and personal factors internal and external to an organization
Aiming to retain employees warrants developing some strategic insights into the weight of the attrition on organization by management. This accentuate the need to engage empirical indicators to retention strategies and their implication on employee retention which subsequently should set pace for further research. contribution of the paper Previous research has revealed that retention strategies centres on work-related and personal factors

Summary

Introduction

Introduction According to the International LaborOrganization (ILO) (2020), improving organizational productivity entails minimizing employee attrition and training costs which involves managements’ framing suitable working conditions that ensure the attraction and retention of talents. Work-related factors are variables that describe the association between the individual worker and the organisation (Kim & Min Park, 2014) and are responsible for job satisfaction and, staff retention in organisations. All measures to improve job satisfaction and staff retention relate to the adoption of sound HR practices such as selection and recruitment, financial incentives for employee retention, opportunities for career development and advancement, promotion for retention, flexible work arrangements and staff health and well-being.

Results

Conclusion