Since work motivation does not only increase employees’ retention rate but also their productivity rate, staying focus on motivating employees becomes a crucial factor in terms of increasing the work satisfaction of each employee and enabling the entire team to reach the optimal levels when it comes to accomplishing the company’s objectives. Once an employee is very much satisfied with their current profession, there is a higher chance for him or her to remain employed with a company for a very long period of time.
In general, effective work motivation, job satisfaction, high productivity, better business profit, and improved employee retention are all interrelated matters. For this reason, most of the modern human resource managers today who are working in large-scale multinational companies are being challenged to search for different ways on how they can improve the effectiveness of their motivational and retention strategies at work.
Aiming to prove that many people believe that an effective retention strategy is a vital component of any wider people resourcing strategy, a literature review will be conducted to determine the truth behind the statement. In the process of going through the discussion, several effective retention strategies that are commonly used by the modern human resource managers today will be identified and discussed followed by conducting a research analysis to determine the similarities and contradicting positions of each author(s) pertaining to the positive and negative impact of each employee retention techniques. Based on the gathered information, the ways wherein an organization can effectively retain employees will be evaluated.
The ability of the HR manager to satisfy employees with their existing jobs will result in a higher chance that the business organization will be able to control employee turnover and increase the rate .of employee retention (Tas, Spalding, &. Getty, 1989). .