Managing Retention

Managing Retention

[Name of the organization]

Managing Retention

Introduction

The objective of this essay is to analyze the main reason of the high employee turnover of the company Iron Town and propose a strategic plan to resolve this problem by reducing the employee turnover and retaining employees. In the following paragraphs discussion has been made on the existing position of the turnover of the employees and also the proposed strategy which can reduce this turnover rate of the employees

Present situation of the Company

The turnover rate of employees is very high and human resource department of the company is really worried about how to stop this in an effective way. It is important for the company to devise a consolidated retention program for the employees so that the turnover of the employees can be reduced. The organization has also kept the in-house employees for the customer service department and to reduce the turnover by 20% in the next three years. The organization is thinking to implement customer relationship management software if it successfully reduces the turnover of the employees.

Reasons of high turnover of employees

The human resource department of the organization has interviewed the last 120 employees of the organization who left the organization. The human resource department tried to find the possible reasons of their resigning from the organization by asking them pertinent question about the job satisfaction. Group sessions were held by the human resource department of the organization for the employees who were unhappy with their job and subsequently resigned from the organization. The human resource department interviewed every individual who was leaving the organization. 49% of the employees stated that their major reason for leaving the organization is the job stress. They face pressure in their jobs which compelled them to resign. The management has overview the job requirements of the employees who have been facing job stress. It is getting difficult for them to work under pressure. The majority of the employees were of the view that they cannot handle stress and manage their workload which is too high for them according to them. 29 per cent of the employees said that they did not expect about their job and for this reason they have resigned. They did not understand the nature of the job and the requirements of the job. However, 14 per cent of the employees lacked the abilities and skilled to resolve the problems of the customers. It shows that the human resource management has not sifted the potential candidates for the job. These employees were not the right candidate for the jobs and the human resource department made a wrong hiring decision regarding their recruitment. Only 5 per cent of the employees said that they are leaving because of the compensation package. It means monetary satisfaction is considered very low for the employees in this job. Only a mere 2 per cent of the employees said they are leaving the job because of other job opportunities. The results of the exit interview conducted by the human ...