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The Impact of Human Resource Practices on Employee Retention in the…
The Impact of Human Resource Practices on Employee Retention in the Telecom Sector
Introduction
Retention of employees become big challenge in today world
Employee turnover
Bring all knowledge out from company
Company lost talent employees
HR manager must provide attractive requirement to keep good employees
break organization's goodwill
Challenge of Turnover
Involve huge costs by employers on workers
Hiring, maintaining and training
Employees migrate to another company
Bring with former knowledge and trade secrets
Loss to former bosses
Training and Development
Increase rentention
Meet employee needs
Information provided is useful and applicable
Part of organizational policies
Create urge for employee to stay longer in company
Increase employee commitment
Increase personal productivity
Meet role expectations
Provide better services
Achievement of organizational goals
Factors for Employees Rentention
Providing equitable remuneration
Appreciate contribution of employees
Providing opportunity of training
Create positive culture in organization
Conclusion
Training, compensation and culture of Telekom
Effective ways to retain the employees
Helpful for long term career development
Organizational Culture
Teach new entrants the correct ways to solve problems
Set of beliefs, values and behaviours
Mission statement
Communication networks
Leadership behaviour
Manager must evaluate the organizational culture
Avoid employees turnover
Compensation
Remuneration
Show relationship of employee- employer
Paying higher salaries to employees
Provide security plans, free education to children, house and vehicle allowances as well as bonuses
Profit sharing and group-based incentive plans
Performance compensation based on worker hard work