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Retention Management And Metrics

Employee Turnover And Retention Briefings Abstract: 49

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Employee Retention Factors [INQ7] Wednesday 11/10/04 8:34 PM

A recent study in the Philippines provides some answers as to what contributes to employee turnover in that country.

The greatest influences according to this study include:

- The quality of vision or strategy from senior management

- Opportunities for growth and advancement

- Amount of politics or bureaucracy

- Amount of job stress

- Compensation

- Link between pay and performance

- Companies responsiveness to employee needs

Based on the survey results, the authors suggest a variety of actions that can be taken to reduce employee turnover. Some of these include:

- Utilize surveys, focus groups and exit interviews to identify specific causes of employee turnover

- Provide competitive salary and benefits and special perks

- Create pathways for employee growth and development

- Improve supervisory skills of managers

- Communicate organization vision and strategy

The author cautions that employees' needs often vary by age and position. Therefore it's important for HR practioners to consider a variety of employee retention strategies that will meet the needs of all employees.

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