Panacea impact of motivational practices and job satisfaction on employee retention in rubber industry in tamilnadu

Abstract

Success of many organizations world over is purely dependent on the simple analogy of retaining their best talented employees Though the phenomenon looks simple but most of the fast growing organizations biggest tasks revolve around in sourcing the right people giving them the right job get the maximum contributions and retain them to the best possible time frame as it deems profitable for the organization Human Resource is an area that is growing in importance as it forms the key function in any organization As the industry continues to progress it needs to focus on its employees and their roles as service providers Increasing demand for rubber and rubber products requires increased staffing levels at a time when the skilled labor pool is shrinking It is imperative that a HR manager should identify the needs of the employee and then devise the appropriate retention strategies One strategy does not fit as different individuals have different priorities A key challenge HR professionals face is to retain talented employees Employee retention is very critical to the long term health of any organization When an organization loses its talented employees it adversely affects innovation customer satisfaction and knowledge gained during the past years as well as on the profitability of the knowledgeable organization Moreover the cost of replacing one employee by another can be significant for the organization To maximize organizational efficiency and to ensure optimal use of the resources human resources must be managed well. During the management process industry requires collection of knowledge information because it is able to gather the industrial information and employee retention strategies from different resources. The HR team is responsible for how employees are treated in an organization. newline