Evaluating The Effectiveness of Employee Retentation Strategies

Evaluating The Effectiveness of Employee Retentation Strategies

BARSHA THAKUR

MBA Student, Sathyabama Institute of science and Technology, Chennai

Dr. RAJA
Assistant professor, School of Management studies, Sathyabama Institute of science and Technology, Chennai

Abstract
Evaluating employee retention strategies involves assessing their effectiveness in keeping valuable employees, ultimately impacting organizational success. This includes understanding the reasons behind employee departures, developing and implementing retention strategies, and measuring their impact on turnover rates, productivity, and overall employee satisfaction.

Key aspects of evaluating employee retention strategies:
·                 Identifying the causes of employee turnover:

Understanding why employees leave (e.g., low salary, lack of growth prospects, poor work-life balance) is crucial for developing targeted retention strategies.

·                 Developing and implementing retention strategies:

This can involve a variety of approaches, including offering competitive compensation and benefits, providing career development opportunities, fostering a positive work environment, and promoting open communication

·                 Measuring the effectiveness of retention strategies:

This can be done by tracking turnover rates, measuring employee satisfaction and engagement, and assessing the impact of retention strategies on productivity and organizational performance.