Retention Management: Effective Human Resource Strategies

Introduction

            This section provides an introduction to the importance of employee retention and what issues the human resource managers have to address in retaining staff. It also provides a thesis statement.

Definition

            Provides a clear definition of retention management as it relates to work environment and strategies to manage employee diverse needs.

 Retention management Strategies

            This section discusses the key retention management strategies that the HR managers utilize in order to foster employee engagement and retain valuable employees in the organization. Seven key issues are discussed and are outlined below:

• Providing employees with clear career path- this is done through training, mentorship, coaching and performance improvement
• Employee recognition- through reward programs such as pay rises, bonuses, promotions and public thank you to motivate employee retention.
• Building a culture of freedom- allowing employees to the autonomy in performing their tasks
• Providing work flexibility- providing flexible work arrangements that motivate employee growth and time for de-stress.
• Corporate Social Responsibility- engaging employees in CSR activities to build on their sense of worth and good will. Providing fair practices and increase employee loyalty.
• Competitive remuneration- compensation policies that makes employees feel valued in the organization
• Clear communication- effective communication on company plans, development goals and achievements with employees to make them fell more connected to the organization.

Conclusion

            Restates thesis and provides a summary of the key retention strategies covered in the paper. It concludes by providing a way forward for HR managers to build on suitable strategies for employee retention.

References             This section provides academic references on employee retention strategies. The references are written in the APA format.

Retention management is key to team building, employee motivation and loyalty. The human resource (HR) managers play a key role in putting in place strategies that will motivate and create strong loyalty of employees. According to Allen, Bryant & Vardaman (2010), employee retention is critical for both managers and organizations at large. The cost involved in employee recruitment, selection, training and development is huge, and organizations cannot afford to keep on hiring new employees.

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