Poeple Dont Quit Comanies They Quit Managers

In: Business and Management

Submitted By poulami
Words 875
Pages 4
The basic rule of surviving in this cut-throat market competition is to differentiate oneself from its competitors. The human capital is emerging as a significant competitive differentiator for most companies across industries. It is of utmost importance to find the right mix of employees who fit the organisational needs and have values and goals in alignment with the firm’s vision and mission. This has become a daunting task with huge investment of money time and other valuable resources. Once this task is accomplished, can the employers sit back and relax? The answer is NO. The next step is the retention of these best-fit employees.
When a new recruit joins an organisation, lot of time and money is invested to groom the new joinee, make him/her corporate ready and bring at par with the existing employees. The organization is completely at loss when these employees leave their job once they are fully trained. According to various researches replacing an employee is estimated to cost twice the deportee’s annual salary. Hence, the concept of employee retention becomes strategically important. Employee retention refers to the various policies practices and measures undertaken so that an employee sticks to a company for a maximum period of time.
The various causes of employee turnover can be attributed to compensation, work environment, career growth, relationship, support, etc. Basically these factors can be categorised as pull factors and push factors. Pull factors are those reasons because of which current employee are attracted and get ‘pulled’ to a new work-place. Hence, it includes a better paying job, a career advancement opportunity, etc. Push factors are aspects that ‘pushes’ the employee towards the exit door. They make the person want to leave, make them start thinking about other job options, talking to…...

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