practicing employee retention

1. In an organization, people are the people who make up the human resources,
business units, or economy. Human capital is often used as a synonym for
human resources, but classically human wealth refers to a lesser vision of
individual self-expression and knowledge of economic growth. Additional
terms are also used, including workforce, competence, workforce, human
resources, or simply people.
A human resource management of an organization is performed by human
resource department overseeing various characteristics of an employment for
example passivity with workforce law and employment ethics, administration
of employee benefits, and little features of0recruitment and removal. For
employee well-being of any business human resources department is a crucial
component no matter how small the business. HR accountabilities include
payroll, benefits, recruiting, dismissal and keeping up to date with tax laws of
state and federal.

2. • Two role areas of HR department are operations and administration.
Companies that recognize the need to consider staffing needs, goals
and strategies using strategic planning in their organizations. To make
HR planning function human resource department directors and
executives gathers and take decisions. The planning role contains the
number, type of employees and the evolution of reward systems.
Human resource planning is affected by various factors such as
company structure, development, business place, demographic
variations, environmental uncertainties and expansion so on.

3. • In line with corporate culture goals, employees have traditionally
been treated as an organizational asset, valued by excess growth and
learning, referred to as human resource development.
• The main functions of human resource management include
recruitment, staff training, implementation of performance appraisal
systems, communication within the office, as well as employee
motivation, workplace safety, etc. The benefits of these features are
detailed below. An organization cannot develop outstanding talent
without a great HR team of working professionals.

4. • Recently it has been found that companies are taking all precautions
to catch their employee resource shortages, but unfortunately they
are unable to focus on retaining them. When we examined ourselves
to discover the reason behind this, we found that the actions and
attitudes of managers and organizations are more influential than
pay, incentives, perks, etc. On the other hand, research findings have
confirmed that today's knowledge workers working in emerging
service industries have a strong desire to feel that they are
succeeding and that their skills and abilities are being better utilized
to create change in their industry and organization. Therefore, it is the
responsibility of HR to identify what resonates with employees and
accordingly formulate policies and strategies to meet their
preferences and interests.

5. • This type of proactive approach is believed to increase retention.
Modern developing countries have set up strong recruitment
programs to provide young and skilled workforce in service industries.
The biggest challenge is to retain these young talents as losing them
can have a huge impact on the organization. This study is an attempt
to look at the factors affecting employee retention and to document
some of the best practices adopted by selected service organizations.
Implications for practitioners are also discussed in light of the
recommendations.

6. • Staffing is a term for building a strong workforce. Getting and keeping
them motivated and engaged is critical to optimal performance and
success. The survey results show that the cost of hiring a new person
to replace an old worker can be more than twice their annual salary.
To be precise, the total cost of losing a position for lower
management is estimated to be 30% to 70% of the annual position
salary, and for senior management in industry the cost can be as high
as 150%.