Employee Retention: A Biggest Challenge in Present Competitive Environment

Prof. Alok Gaddi; Dr. Mahesh G. Deshpande

doi:https://doi.org/v1i1.07

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Employee Retention: A Biggest Challenge in Present Competitive Environment

Alok Gaddi, Mahesh G. Deshpande

https://doi.org/v1i1.07

Published Online: January 20, 2016

Author Details ( * ) denotes Corresponding author

1. * Alok Gaddi, HOD , BBA, Global College of Business Administration, Hubli, Karnataka, India (alokgaddi@gmail.com)

2. Mahesh G. Deshpande, Principal, BBA, Global College of Business Administration, Hubli, Karnataka, India

In the present competitive Business environment, the goal of every employer is usually to decrease employee turnover, thereby decreasing training costs, recruitment costs and loss of talent and organizational knowledge. By implementing lessons learned from key organizational behavior concepts employers can improve retention rates and decrease the associated costs of high turnover. However, this isn't always the case. Employers can seek "positive tur.over" whereby they aim to maintain only those employees who they consider to be high performers. This employee retention has become one of the important components in the companies' strategies, to stay ahead of their competitive partners in terms of timely delivery of service and better quality of services to their customers, because of the reason that service differ from one person to another and retaining a high performer is the most for any organization.In this paper we highlight on the importance of retention to the organization and various challenges in the competitive market.

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