The Important of Employee Retention
We also talk about how important establishing a company culture is. Employee retention is a basic component of developing a strong company culture, yet this chapter doesn't mention anything about this. After taking several business classes, I have learned how important employee retention is within an organization and the great effects it can have. This article discusses how organizations can go about retaining employees using various forms of retention programs. Furthermore, it discusses the overall effects that retaining employees entails.
Are higher turnover rates as seamless as Gershon makes it seem? Or is this 'new economy' missing the values associated with retaining employees for the long term and developing a strong culture?
Hi Erik!
ReplyDeleteI really enjoyed this post because it got me thinking about how companies are becoming increasingly focused on profit instead of growth, and how this has translated into a larger problem within the current job market.
I don’t think that turnover is seamless at all, and as the article mentions, it can be an extremely costly and tedious process if it occurs often. I would even argue that employee turnover can have an impact on the overall culture of a workplace. If people are used to seeing employees come and go at a high rate, it becomes difficult for long-term employees to form the crucial relationships that make companies work efficiently and effectively.
I think that there is a lot that employers can do to make sure employee retention is strong, and I believe that a lot of these approaches have to do with building an inviting and desirable workplace culture. Nowadays, I feel that employees need to be compensated in more ways than just receiving a salary. There needs to be something that the company can offer them in the long term, and if companies fail to recognize these needs, then their employees will want to find somewhere that will.
I enjoyed reading through the different methods mentioned in this article because it gave me a better idea of what I should be looking for in the culture of future workplaces. One of the things I had never thought about came from the article, and this was workplaces conducting “stay interviews”. Employees are an extremely valuable asset and I think it is important for them to voice their ideas and their opinions on their workplace, and potential issues and areas of improvement that management can address in order to make the workplace a more pleasing environment for their employees.
Ultimately, I think that employee retention and ensuring employee satisfaction should be one of the main focuses of employers, especially now since the job market is becoming increasingly competitive and employees are wanting to work for companies that can offer them the best opportunities and the best work experience!
Hi Erik,
ReplyDeleteI have been wondering all of the same things, and I remember this being a topic in one of our discussions in class. Gershon's Chapter three about networking also made me question the value of retaining at a company. If you are suppose to be networking all the time, even after you have gotten a job, then does this mean you are always looking to switch jobs? It seems like the "new economy" always wants you to look for the next best thing because it deems that switching jobs is inevitable.
I don't think that the turnover rates are as seamless ad Gershon makes them out to be, but I do think that she wrote it in this tone because she knows that it will happen numerous time and is not surprised when it does.