what is a Employee retention?

[Nivedha Kannan]

Employee retention refers to the various policies and practices which let the employees stick to the organization for a longer period.

[Deepika Nautiyal]

Some of the effective employee retention methods:

1. Pay employees above the labor market
2. Provide more incentive/bonus opportunities
3. Let key employees know they’re essential to the business
4. Create flextime/telecommuting opportunities
5. Create a succession plan to replace key individuals
6. Discuss with key employees their future opportunities within the organization
7. Provide cash bonuses for retaining key employees
8. Provide meaningfully and enriching job designs for key employees
9. Provide key employees with stock options/equity awards, and
10. Create an extensive benefits package
11. Providing tuition reimbursement and other educational opportunities
12. Monitoring employee satisfaction with pay and work duties and
13. Providing mentors for key employees

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