Proposal Essay Example | Topics and Well Written Essays - 2500 words - 1

Proposal - Essay Example These retention strategies make them be retained in the firm and perform their jobs at optimum levels. Retention of employees is a complex and a multi-faceted challenge, which can negatively impact on an organization’s profit margins and productivity if it is not addressed effectively. An improved incentive system raises the performance orientation and retention of an employee. Retention is used by many firms so as to reduce the turnover costs. Employee retention is also very crucial since it prevents talented staff from being poached. Therefore, for the long-term success of a company it is a must that the firm develops and retains talented, satisfied and performance-oriented. Employee retention is very crucial to any organization, and it is very demanding for the employees. In the current world, attracting and retaining young and skilled employees is often difficult but equally important. Many employers are faced with the problem of searching for a younger workforce that has different attitudes concerning work, coupled with an increasing population of older workers who are heading towards retirement. Majority of organizations have resolved to retain their good managers and employees. In that perspective, retention of employees needs to be examined in the most comprehensive manner since it impacts both negatively and positively on the business. That is the research paper will examine the impact of retention strategies on employee motivation. Sandya and Kumar (2011:1778) defined employee retention as a process by which workers are encouraged to stay with their current employers for the maximum possible time. Although it is a difficult job, it is beneficial to both the employer and employee. On the other hand, Sandya and Kumar (2011) added that employee retention is the process by which employee are encouraged to remain with the organization they are working with currently for a long time. Employees