A skilled staff is a good asset to any organization. Generally staff retention is highly essential for the long term health as well as the success of a business enterprise. But retaining best staff in today’s highly competitive scenario is extremely unavoidable, since it guarantees improved customer satisfaction, improved sale of your products thereby ensuring increased profit, and carrying out of other activities in an organization such as staff reporting and job planning in an effective way. Usually considerable time and money is necessary to recruit an appropriate employee and train them in order to make flexible to the existing working environment, it would be better to retain the existing competitive employees in the organization. Sometimes loosing key staff may sometimes even affect the reputability as well as profitability of your business firm. So many firms follow effective ways for staff retention is to recruit right personnel to fill the positions in an organization, via methodologies such as competency tests and behavior tests. But the successful retention of employees, it is also important to determine the needs as well as what actually motivates an employee. Also, a great way for retaining key employees or staff is to develop such an environment that allows for professional learning and growth, the chance to constantly procure professional knowledge and skills. And an employee must be given competitive salaries and that too attached with substantial bonuses and perquisites. Important benefits of employee retentions are:
- Employee retention significantly reduce the cost of recruiting new personnel
- Considerable savings in advertising expenses
- Increased employee tenure
- Heightened productivity
- Enable to deliver excellent client services
- Improved customer satisfaction
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