EMPLOYEE RETENTION

PRESENTED BY:
BHAWNA JOSHI
MSC. 2ND YEAR
 LEARNING OBJECTIVE
• To understand the introduction ,definition, employee retention
5 major things, retention strategies, importance of retention ,
reason why employee leave, retention myths, nine principles to
help foster staff retention, five characteristics of successful
retention programs.
 INTRODUCTION

•  The act of retaining : the state of being retained.

• Employee retention refers to the various policies and practices
which let the employees loyal to an organization for a longer
period of time. Every organization invests time and money to
groom a new joiner, make him/her a corporate/ market ready
material and bring him/her at par with the existing employees.
 DEFINITION OF RETENTION

•Webster's Dictionary defines retaining as keeping in one's

pay or service. Unless it needs to lay off employees, the
organization wants to keep its employees in its pay and
service. There are many reasons that organizations want
to retain employees, and there are actions the
organization can take to promote employee retention.
• Employee retention is the organizational goal of keeping
talented employees and reducing turnover by fostering a positive
work atmosphere to promote engagement, showing appreciation
to employees, and providing competitive pay and benefits and
healthy work-life balance. Employers are particularly interested
in retaining employees during periods of low unemployment and
heightened competition for talent.

Author: Margaret Rouse
 EMPLOYEE RETENTION STRATEGIES
• Hire the right people in the first place.
• Empower the employees
• Make employees realize that they are the most valuable for the organization.
• Have faith in them, trust them and respect them.
• Provide them information and knowledge.
• Give feedback on their performance.
• Appreciate their achievements.
• Keep their morale high.
• Create healthy environment .
 IMPORTANCE OF EMPLOYEE RETENTION
• The cost of turnover.
• Good will of company.
• Loss of company knowledge.
• Loss of talent.
• Turnover leads to more turnover.
• Interruption of customer services.
 REASONS WHY EMPLOYEES LEAVE

• Job is not what the employee expected.

• No growth opportunities.
• Lack of appreciation.
• Lack of trust and support.
•Stress from overwork.
•Compensation.
•New job offers.
•No personal life.
•Physical strains.
 RETENTION MYTHS.
• Employee leave an organization for more pay.
• Incentives can increase productivity.
• Employees run away from responsibilities.
• Loyalty is a thing of the past.
• Taking measures to increase employee satisfaction
will be expensive for the organizations.
NINE PRINCIPLES TO HELP FOSTER STAFF
RETENTION:

1.Respectful collegial communication and behavior.

2.Communication-rich culture
3.A culture of accountability
4.The presence of adequate numbers of qualified nurses.
5.The presence of expert, competent, credible, visible leadership
6.Shared decision-making at all levels.
7.The encouragement of professional practice and continued growth/
development
8. Recognition of the value of nursing‘s contribution.
9. Recognition of nurses for their meaningful contribution to the
practice
 FIVE CHARACTERISTICS OF SUCCESSFUL RETENTION
PROGRAMS:

1. Sustained leadership commitment to workforce as a

strategic imperative.
2. A culture centered around employees and patients.
3. Work with other organizations to address workforce needs
4. Systematic and structured approach
5. Excellence in human resource practice
CONCLUSION

• The process of retention is not easy as it seems.

• There are so many tactics and strategies used in retention of employee by the
organization.
• The basic purpose of these strategies is to increase employee satisfaction
boost employee moral hence achieve retention.
• “ if you truly respect , appreciate and treat your employees wonderfully , you
will never lose them ”
SUMMARY

• Today we had discussed the topic employee retention Its introduction

,definition, employee retention 5 major things, employee retention
strategies, importance of employee retention , reason why employee
leave, retention myths, nine principles to help foster staff retention, five
characteristics of successful retention programs.
 EVALUATION

• Define employee retention?

• Discuss employee retention 5 major things retention strategies?
• Explain importance of retention and reason why employee leave?
• What are the retention myths?
• What are the nine principles to help foster staff retention?
REFERANCES

• Kamaljit kaur, Sukhbir Kaur and Jagjit

Kaur “Textbook of Nursing Management and Services” Second edition, Jaypee
Brothers Medical Publishers, page no. 45-47.

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