Abstract
Many organizations are interested in succesion planning in developing their talent. However, there are some challenges in practically implement the planning in talent development process. For instance, one of the most challenging issues in human resource management is dealing with employee turnover, retention and engagement. As high turnover employee is a bad sign as it will increase organization overall cost and time spending to train the new employees. So, these issues need serious attention from the organization as it highly associated with the successful of the organization. Therefore, this conceptual paper presents the determinant factors for employee retention in an organization and challenges to implement it within the context of Malaysian organizations. This paper provide a better understanding how organizations could identify new strategies to improve their employee retention program.
Highlights
An organization requires their employee to work at the maximum potential benefit to achieve their organization goal and objectives
Advance age is the reason that career development is not important compared to trust in senior leadership as majority of employee retired at the age of 50-60 year old
Having profit sharing scheme is a good way to retain their employee as it will benefit every employee for their contribution in the organization. To keep their talented employee is a major issue face by majority of organizations around the world. It is a great lose for an organization to lose their talented employee and losing their employee to the competitor
Summary
An organization requires their employee to work at the maximum potential benefit to achieve their organization goal and objectives. Service and product quality will be affected by shortage of workforce This is because lack of proper and complete training for a particular task or work duties by inexperienced employee. The organization may need time to gain their profitability back or break even especially for a small company (Kotze & Roodt, 2005) highlighted that losing good employee will affect the organization morale and may influence other employee as remaining employee will demotivated and decrease their work satisfaction If this continues to happen, the employee will get distracted and might follow their colleague to leave the organization for new opportunity. Advance age is the reason that career development is not important compared to trust in senior leadership as majority of employee retired at the age of 50-60 year old. Trust/ confidence in senior leadership is important reason for employee within age group of 30-49 years old
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