Organizational strategies for Employees Retention in the Emerging Environment

Abstract

In today s world of globalization, liberalization, privatization great numbers of opportunities have been generated for the talented people. Retaining employees is much more difficult for the management to hire them. Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. The organization is completely at loss when the employees leave their job once they are fully trained. Organization offers several incentives and competitive benefits like better work environment, health and life insurance and bonuses, stock options, a retirement plan, etc. to keep the employees happy, satisfied and motivated. Impact of such affects need to be explored, so as effective retention strategies can be designed and developed. newlineThe present research work has been taken up with the objectives to know the current status of employee turnover and different factors affecting it and the organizational interventional strategies for employee retention in the selected healthcare units of Uttarakhand. In the survey of 414 respondents conveniently selected from some selected healthcare units of Uttarakhand, the present study found work load, their personal reasons, lack of career opportunity, to join family, poor promotional prospect in the organization, insufficient salary, high stress in company, work hours/shift work, pursue other career goals, low lob security, pursue other career goals, better career advancement opportunities, and better training opportunities. Organizations can retain their employees by focusing on organizational interventional strategies for employee retention like HR efficacy, organization culture, organizations image, role clarity and sense of security, growth opportunities, loyalty and commitment, employee participation, wage and salary, organizational policy, management proactiveness, and flexible working. newlineSome of the suggestions and recommendations based on the study are also presented in the present research work. newline