Hiring knowledgeable employees is very essential and also just a start to creating a strong work force. Next, you have to keep them which is more important and more challenging. Employee retention is most critical issue facing corporate leaders as a result of the shortage of skilled labor, economic growth and employee turnover. It involves taking measures to encourage employees to remain in the organization for the maximum period of time. In today’s environment most especially in a down economy, it becomes very significant for organizations to retain their employees. High employee turnover costs business owners in time and productivity.
There are reasons why employees quit their jobs, could be personal or professional depending on the nature of their work. A great example of this is in Philippines call center, inbound call center agent’s turnover is caused by better opportunities outside the organization, lack of career development, repetitive work, health risk and difficult lifestyle. But in general, employees begin to think about leaving when one of the fundamental needs are not being met such as the need for trust, to have hope, to feel a sense of worth and to feel competent. Employees complain for poor management when what they want is good management. They complain of favoritism when what they prefer is an even playing field. In short, the company’s management team plays a big role in retaining employees. Employee retention involves being sensitive to people’s needs. Workforce stability can be your competitive advantage in these turbulent times. A great company knows how to attract and keep good employees, because in the long run, this workforce will make or break its reputation.