In today’s competitive world, retention of talented and experienced
employees is one of the most challenging as well as important tasks, in a
corporate. Companies spend a lot of money in recruiting, training and
cultivating their talent pool and it is a great blow to them, when the same
talent pool starts dwindling due to better prospects elsewhere.
So the aim should be to keep the interest of the employees alive by giving
them new and challenging tasks and also improving their skill-sets. Another
very important lookout while trying to retain employees is their benefits and
perks, both in cash and kind. The highest attrition is found to be due to a
better pay and incentive structure which competitors use to draw out the best
people.
In order to motivate the staff to give their best and also to continue with
the current job, the management and human resources need to look at drawing out
different monetary and non-monetary schemes for their employees.
