Organization is a social entity created by group of people or employees, who work together to achieve its goal. Employees are considered as most valuable assets for an organization or a firm because an organization is nothing more than a name without its employees. Group of employees not only creates an organization but they also provide competitive advantage to an organization.
Employees whether at higher level like managers or at lower level like foremen, clerk's helps an organization to compete with other organizations. They offer their skills, capabilities, language, speed, behavior, etc w
mythr orghich helps an organization in execution of its strategies. So, an organization is incapable of doing anything without support of its employees whether they are at lower level or at higher level, it is very necessary to withhold them.
Retention of employees means a firm's or an organization's ability to retain or withhold its employees. It requires proper strategies. It means an organization has to make planes and should frame proper policies for their retention. An organization can only retain its employees if it knows the reason behind their moving out.
Why Employees Leave Organization?
• Pay Scale: The first and the most important reason that encourage people to move out of an organization is money. Money is the main motivating factor. Everyone works to earn money and employees generally leave an organization if they get comparatively higher pay somewhere else or if they are not satisfied with their current pay.
• Lack of Motivation: Motivation is a psychological factor that encourages employees to work for achievement of desired goals. Employees should be motivated time-to-time whether monetarily or non-monetarily. It is very important for anyone to have proper zeal to work. Motivation provides that zeal.
• Lack of Managerial skills: Managerial skills are very important to withhold mythr org employees. Managers who do not have proper managerial skills are not able to hold their employees. It is not always necessary to behave strictly but some situations demands politeness. It is necessary for a manager to hear the problems of employees and provide the appropriate solution.
• Better Opportunity: In such a competitive environment everyone search for new opportunities and when they get them they switch over to that more suitable job.
• Lack of Interest: People sometimes lack interest in their job or they get bore because of monotonous routine or job is not same as described by employer during the interview.