An In-Depth Study of Retention Management
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The focus of this thesis is to research different retention management practices used by companies. By completing this research, hopefully a better understanding of retention management and what works in different environments is conveyed. It is very important for people to understand the different incentives, and even more important to understand them if a person is going to own their own business in the future. Theories from published human resource experts were analyzed to see why each approach works or do not work in recruiting and retaining employees. This topic is crucial to every business and should be seriously studied by all business majors. One of the hardest obstacles to be overcome by businesses today is retaining key employees. The major conclusion of the research is that employers are moving toward improving the communications within the organization, and also improving employer/employee relationships. The employees need to feel they are contributing to the overall progress of the company, and that their contributions are valued by the organization. These attributes become the cornerstone for effective retention programs.