Retention Strategies – A Key for HR Development

Abstract

The employer are now aware of the retention strategies in an organization. They are now focusing attention on the employees which are most suitable and beneficial for the organization. The decision to hold an employee is most crucial. The employer has to find out the need of retention and the employees, he should retain. Employers are supposed to take care of their assets i.e. employees. Employees are not only motivated by the monetary benefits. The non-monetary benefits are also equally important to encourage the employee to stay in the organization.

The various retention practices are followed and tried to minimize the rate of labour turnover. The term labour turnover and retention of employees are interconnected. Hence, a study of retention strategies are taken in Ahmednagar city and the findings are presented.