LOVELY PROFESSIONAL UNIVERSITY TERMPAPER HUMAN RESOURCE MANAGMENT EMPLOYEE RENTENTION
NAME: SOURABH SHARMA
REGD: 10903798
ROLL NO: RR1908B31
SUBMMITED TO:MR.RAJEEV GUPTA

INTRODUCTION
Employee retention refers to the efforts by which employers attempt to retain employees in their workforce. In a business setting, the goal of employers is to decrease employee turnover, training costs, and loss of talent. By implementing lessons learned from key organizational behavior concepts employers can improve retention rates and decrease the associated costs of high turnover.

How To Increase Employee Retention | | | Companies have now realized the importance of retaining their quality workforce. Retaining quality performers contributes to productivity of the organization and increases morale among employees.

Four basic factors that play an important role in increasing employee retention include salary and remuneration, providing recognition, benefits and opportunities for individual growth. But are they really positively contributing to the retention rates of a company? Basic salary, these days, hardly reduces turnover. Today, employees look beyond the money factor. |

employee retention can be increase by inculcating the following practices: 1. Open Communication: A culture of open communication enforces loyalty among employees. Open communication tends to keep employees informed on key issues. Most importantly, they need to know that their opinions matter and that management is 100% interested in their input. 2. Employee Reward Program: A positive recognition for work boosts the motivational levels of employees. Recognition can be made explicit by providing awards like best employee of the month or punctuality award. Project based recognition also has