What is the employee retention theories?
The employee retention plays an important role in organizational development. It helps the organizational policies and practices with various strategies that also help the business to reduce the turnover rate of the employee. The employee helps in the organizational development and thus helps in the productivity of the company as well. The employee retention also helps in the growth rate of the business and helps in the advancement in the market as well. The employee retention refers to the various strategies that help in the satisfaction of the employees as well as also help to motivate employees within the workplace (Hom et al., 2012). This helps the company to reduce the turnover rate of the employee and helps in the development of the business as well. The employee retention helps the business to expand its corporate and also helps in the development of the company as a whole. The company with the effective implementation of employment retention strategy helps the employee to motivate more towards the company and also helps in gaining a competitive advantage by the business in the market. The strategy also helps in the employee satisfaction which further add value towards the quality of the production which help the employees more towards the company as a whole.
The employee retention within the business plays a vital role in considering the rate of attrition within the corporate as well. The company Oxfam with the effective implementation of the business plan helps the business towards the advancement by the present market (Grissom et al., 2012). The employee retention also helps the company to increase the productivity rate and helps in the organizational advancement in the international market.
The company Oxfam also implements effective retention strategy which helps the employees within the workplace to get more motivated towards the company as well. The retention theories also help the company towards the business development and also help in the profitability of the corporate as well. The various strategies that include:
The employee gets motivated towards the business through beneficial rewards and compensation. Employee commitment within Oxfam gets highly influenced through attractive wage system which helps the company to retain more loyal employees within the workplace. The compensation thus plays a vital role in attracting and motivating more employees within the corporate (Hong et al., 2012). The rewards towards the effective efforts of the employees also help the employee to get motivated towards the corporate environment which further helps in reduction of the employee retention in the business.
The job security of the employee also helps the business to gain the loyal employees within the business as a whole. This also helps the employee to motivate in the decision making process regarding the company’s goal and objectives. The job security also helps in providing the psychological and socio-economic stability to the employee which further adds value towards the company to increase the retention rate of the employee within the workplace (Gerber et al., 2012). The job security also helps the employee within Oxfam to meet the satisfaction level and helps the business to retain employees as well. The job security helps the employee to implement a positive impact towards the employee which helps in the technological advancement of the corporate as a whole.
The training and development of the employee within Oxfam also help in improving the talent of the company which further adds to the increased productivity within the company as well. Successful training also helps in retention of the employee through identifying the best talent and motivating the employees according to the base of the need of the employees towards productivity (Morrison & Silverman, 2012). The training and development also help in the improvement of the skills and potentiality of the employee which helps the corporate in increasing the quality of the product within the workplace. This also helps the corporate further towards the development in the market gaining competition as well.
The transparent communication helps the employee to build a transparency with the management which helps the corporate to avoid any conflicts between the employees within the workplace. The transparent communication also helps the employee to get motivated towards the company and helps in gaining increasing the profit margin of the company as well. The transparent communication also helps in the behavioral change of the employee of Oxfam, which helps the corporate to develop the management and helps in retention of the employee within the corporate (Farr, 2012).
The effective retention strategy also includes the reduction of workload which helps the employee to get more motivated to the business and thus helps in lowering the turnover rate of the employee (Zablah et al., 2012). Oxfam thus lowers the attrition rate through effective implementation of the work-life balance and helps in motivating more employees within the workplace as a whole. The maintenance of work balance also helps in attracting more loyal employees which further helps in the retention of the existing employees within the workplace as a whole. The retention strategy thus helps the corporate towards the employee productivity and helps in improving the economic structure of the company in the present market (Ployhart et al., 2012).
The business implements corporate culture within the workplace which led towards the positive impact towards the employees. The corporate culture also helps in the improvement of the quality of the production of the employee and helps the business to develop the economic structure in the present scenario. Oxfam implements corporate culture which further help in retention of the employee and also helps in the advancement of the business in the corporate world (Boles et al., 2012).
The motivation of the employee plays an important role in considering the reduction of employee retention within the workplace. The motivation of the employee helps Oxfam to create a positive environment towards the employee and helps in the retention of loyal employees within the corporate as well. The motivation also helps the employees to drive towards the workplace and increase the rate of productivity quality within the corporate (Long etal., 2012). This helps the organization towards retention of the employee and helps to lead the business towards gaining competitive advantage.
The implementation of effective retention strategy helps the company towards the advancement and growth of the corporate in the market. The effective motivational strategy helps the employees to get more attracted towards the business and helps the corporate to lowers the retention rate as well within the workplace (App et al., 2012). The motivational strategy helps in attracting more employees and helps in lowering the attrition rate as well. This also helps the corporate to increase the productivity rate and thus helps in gaining competitive advantage in the market. Thus, Oxfam to retain more loyal employees implement effective motivation strategy that also helps the business to increase the rate of the profit margin and thus helps in the competitive advantage in the present market (Memili & Welsh, 2012).
The reduction of the workload also helps in the retention of the employees and thus helps in the profitability of the company in the competitive international market. The reduction of the workload also helps the employees to input more potentiality towards the corporate business and helps the business to increase the sales rate of the corporate. Oxfam implements effective strategy regarding the need of the customers and thus provide the favourable condition for the employees to reduce the work pressure within the workplace. This helps the employee to increase the quality of production and helps in the sustainability of the company in the market. The reduction also helps the employee to get satisfied with the company and helps in gaining loyal employees more towards the workplace (McCole et al., 2012). The company with the effective implementation of the strategy helps the employee as well the families get addicted towards the workplace and helps in the growth of the company in the market as well.
The effective implementation of the corporate culture also helps the employee to get attracted towards the corporate business and helps in having the positive impact towards the employee as a whole. The corporate culture of Oxfam also helps the company to gain positive impact towards the employee which further helps the company to retain the employees within the workplace and also helps in gaining employee satisfaction as well. The satisfaction of the employees within the workplace plays as a vital part in considering the growth rate of the company and also helps in gaining customer satisfaction towards the business success (Grant, 2012). The satisfaction level of the consumer also plays an important role towards the profit rate of the company and thus helps in gaining profitability of the business. The business helps the employee to gat attracted and thus stays within the workplace.
The transparent communication also helps Oxfam to retain employees within the workplace. The communication helps the employees to create a strong bond with the management and thus help the management to avoid any type of conflicts within the workplace. This also helps the corporate to gain competitive benefit and helps in increasing the rate of profit sales in the present competitive market (Ferreira, 2012). The transparent communication also helps the employee to have positive energy within the workplace and thus helps in increasing the potentiality of the business in a present situation. Thus, the effective implementation helps the corporate to gain maximum loyalty within the workplace which also adds value towards the reputation of the business. The loyalty helps the business to gain brand value which adds as an added advantage towards the brand value of the company in the international market. The brand value also helps in the gaining the productivity of the company which further helps in the sustainability of the business as a whole.
The effective implementation of the training and development helps the corporate to develop the skills of the employee and helps on improving the potentiality of the employees within the workplace. The implementation also helps in the retention of the employee and thus helps the company to stand as a leading business in the corporate world (Martin et al., 2012). Oxfam thus implements effective strategy towards the employee retention which helps the corporate to increase the productivity and also help in lowering the attrition rate of the employee as well. The training and development thus help the company towards the growth rate and also helps in motivating employees as well.
Oxfam face challenges mainly regarding inequality within the workplace which affects the potentiality of the employee and thus led the business towards the increased rate of employee turnover in comparison to the market. The corporate thus implements the effective strategy regarding compensation and rewards towards the employee which help the employee further to gain motivation within the workplace as a whole. This helps the business with increased quality of production and thus led towards the improved growth rate of the company in comparison to the profit share of the market (Ferreira, 2012). The business thus helps the employee towards the development of the company and also helps in the employee retention as well.
Conclusion:
The employee retention of the business plays an important role in business success. The various strategies implemented by the company also help the business to retain loyal employees more within the workplace and helps in improving the potentiality of the business as well. The employee retention also helps the corporate to improve the productivity of the business which helps the corporate to add value towards the brand reputation of the company as a whole. The employee retention thus adds value also towards the consumer satisfaction and helps the business to improve the quality of the production of the business as well. The retention rate of the employee helps in improving the profitability of the company which helps in increasing the profit sales of the company in the international scenario. The retention rate also helps in leading the positive impact towards the customers and thus helps the company towards the improved productivity at a market. The employee retention thus led the business towards gaining competitive sustainability in the market and helps in increasing the profitability as well in the international scenario.
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