Importance of Employee Retention to an Organization

HRM and The Organization
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HRM and The Organization
Employee retention is among the issues that have affected organizations in the contemporary world. Employee retention refers to the organizational objective of keeping talented and productive employees while minimizing turnover through creating a positive work environment that facilitates employee engagement, encourages a healthier work-life balance, and provides competitive benefits and pay for employees (Youssef-Morgan & Stark, 2020). Employee retention enables organizations to retain their workers during the increased competition for talent and a low unemployment rate.
Employee retention integrates with both training development and performance and evaluation. For instance, the recruitment process is usually costly for organizations. As a result, training development by naturing the talents employees already have helps attain organizational success. Training and development enable motivation and value employees. Consistent learning and development enable employees to grow their roles, which helps the company in attaining success (Al-Suraihi et al., 2021). Motivating employees consistently enables them to develop new ideas, ...