Employee Retention

Paper Summary:

This paper discusses how employee retention and turnover are the most objective measures of employee satisfaction and dissatisfaction in businesses. It examines how, as a result, many employers try to retain employees through basic strategies, such as increased pay and benefits and how research has shown that there are less expensive and more effective ways to retain employees.

Outline
Introduction
The Cost of High Employee Turnover
Effective Strategies
The Problem of Employee Retention
What Research Reveals
Conclusion

From the Paper:

"In today's workplace, employers are not only having a hard time attracting employees, but are also having a difficult time keeping them (Harkins, 1998). Employees leave for a variety of reasons, including poor supervision, unchallenging positions, limited advancement opportunities, lack of recognition, limited control over work, perceived pay inequity, and the perception of more favorable opportunities in other companies (Jardine, 2001). High employee turnover is one of the greatest causes of declining productivity and decreased morale in corporate America (Abassi, 2000). While morale decreases, recruiting and training costs increase and an organization can find itself in a vicious cycle (Secretan, 2001)."

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