Retention

Overview

Most employers want to keep their good employees. They have taken the trouble to train them, they have a history with the organisation, and basically they know what to do. It is expensive for both the employer and the employee to make a change, and if things are working, then this is all to the good.

You might like to read this page to find out more about retention.

Employee performance

Three of the most important areas of employee performance are known to be:

• productivity, or how much you actually do at work
• absenteeism, which is when you are away from work for whatever reason
• turnover, which is really about the number of employees who leave.

You can't avoid some turnover, because people have the right to move into a new job or seek other opportunities. If you want to do your best to keep your employees, however, you need to think about job satisfaction. People who are not happy may be more likely to move on to another job.

Ways to keep staff

There are several ways that employers can assist with retention. Some of these include :

• pay increases, particularly if competing firms are paying more, although these need to be affordable
• fostering an organisation with a culture of development, promotion and training
• offering flexibility in working hours can be attractive to some employees.

Can you think of any other ways in which retention might be improved?