Employee retention is crucial for organizations as it helps reduce turnover costs, preserve company knowledge, and maintain operational efficiency. Key reasons employees leave include lack of growth opportunities, inadequate compensation, and poor support, while effective retention strategies involve fair compensation, growth opportunities, and recognition of achievements. Both extrinsic and intrinsic rewards play a significant role in increasing job satisfaction and maintaining a motivated workforce.

1. EMPLOYEE
RETENTION

3. “We cant stop
employees from
leaving unless we have
a plan to make
them stay!”

5. Employee Retention
A process in which the employees
are encouraged to remain with
the organization for the maximum
period of time or until completion of the
project.
Employee retention is beneficial for the
organization as well as the employee.

6. RESIGNATIONS

7. REASONS WHY EMPLOYEES LEAVE
 Job is not what the employee expected
 No growth opportunities
 Lack of appreciation
 Lack of trust and support

8.  Stress from overwork
 Compensation
 New job offers
 No personal life
 Physical strains

9. IMPORTANCE OF
EMPLOYEE RETENTION
 The cost of turnover.
 Loss of company knowledge.
 Interruption of operations.
 Turnover leads to more turnovers.
 Goodwill of Company.
 Regaining efficiency.

10. Employees Retention
involves five major things:
 Compensation
 Growth
 Environment
 Relationship
 Support

11. EMPLOYEE RETENTION
STRATEGIES
 Hire the right person in right place
 Empower the employee
 Make them realize that they are valuable
for Organization

12.  Have faith in them, trust & respect them
 Provide information & knowledge
 Give feedback on performance.
 Recognize & appreciate their
achievements.
 Keep their morale high
 Create healthy environment

13. Recipe of retention
Remunerate competitively
Encouragement and expectations
Training and development
Annual review cycles
Inform and involve
Nurture

14. MOST EFFECTIVE
RETENTION INITIATIVES
 Competitive merit increase/salary
adjustment
 Career development opportunities
 Promoting qualified employee
 Increasing health care benefits
 Offering schedules conducive to
work life balance
 Bonuses

15. GUIDELINES FOR INCREASING
JOB SATISFACTION
 Extrinsic Reward
Refers to motivation that comes from
outside an individual. The motivating factors
are external, or outside, rewards such as
money or praise. These rewards provide
satisfaction and pleasure that the task itself
may not provide.

16. Extrinsic REWARDS
 Reward must be meaningful and unique
 Reward must match individual preferences
 Link rewards to motivational behaviors
 Link rewards to performance
Examples:
Salary increase, gadgets, house loan and car loan

17.  Intrinsic Rewards
The personal satisfaction a person derives
from a sense of self-accomplishment related
to personal or business goals.
More powerful motivator in doing
responsibilities.

18. INTrinsic REWARDS
 Assign employees to jobs that meet their
needs for work characteristics
 Provide clear communication to employees
 Design fair reward allocation system
 Ensure supervisors provide a positive
environment
 Provide programs to enhance work-life
balance

19. Thank You