Preface:
Effective employee retention practices can help reduce turnover in order to hold onto organizational talent. Not only can this help reduce hiring and training expenses, but it also has the potential of increasing worker productivity through improved satisfaction. Additionally, an effective succession plan along with the proper development of existing employees can ensure they will stay with the company past the initial probation period. The problem is that previous retention strategies may not be effective tomorrow, and today’s employers cannot always count on employees to remain loyal without additional pay or incentives.
Guidelines:
It has been said that employees leave because of poor leadership and management, not bad jobs. Unfortunately, research from the consultancy firm DDI found that 57% percent of respondents left a job for that exact reason. Empathetic and capable leaders can empower employees and inspire company loyalty while a disorganized or toxic work environment can encourage employees to resign. With employees leaving the workforce at a record pace, it is up to you as the Human Resources Director to develop a strategic approach to retaining high performers. You will do so by conducting research from the course textbook(s), and LIRN library database, along with other reputable online sources (.gov, .edu, .org). Please use google scholar and the book which is called MGMT5356 Managing Human Capital (2021) McGraw Hill. While conducting your research, focus on the main details below.
Analysis:
• Why can fostering a safe and inclusive workplace environment keep employees engaged?
• What is the best approach for preparing employees to fill future management positions?
• How can employee surveys increase retention, and when should they be conducted?
• What does an effective succession plan look like, and when should it be implemented?
Expectations:
• 1-2 pages in length with sufficient research information on each.
• Follow proper APA format, including title and reference pages.
• Use 3rd person with proper grammar, punctuation, and spelling.
