The Importance Of Employee Retenment

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An effective retention program is one that embraces a variety of policies and practices to create a work environment where employees want to feel comfortable. Whatever the strategy adopted , an organization must ensure that the action align with the mission ,vision ,culture ,objectives, and values of the bank as well as being realistic measure to meet employee’s needs and expectations. In line with this, studies show that employer can increase employee retention and engagement through a number of practical people –focused strategies (Aguenza,, 2012).On the study of motivational factors of employee retention and engagement in organizations, they contended that any organization should concern its capacity to attract, engage, and retain the…show more content…
Employees are an important resource in an organization as they positively contribute to the execution of the bank objectives and mission. Employee retention is the ability of the management to retain its employees for a longer period of time and a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the organization. Porter and Steers (1973) suggested that the issue of met expectations was central to the individual’s decisions to leave an organization. Each employee has his or her own set of expectations upon entering an organization. Should these expectations not be met, the individual will become dissatisfied and leave. Mobley (1977) suggested that a negative evaluation of the present job leads to job dissatisfaction, thoughts of quitting, and an evaluation of job seeking expectation utility and cost of…show more content…
An employee's decision to resign from an organization is rarely due to a single event, such as being passing over for a promotion, a choice assignment or for monetary reasons. But most employees leave because of multiple factors-such as less employee compensation package, the work itself, less training and career development opportunity, inappropriate performance appraisal, Weak governance and leadership, a stressed work environment and better advancement opportunities elsewhere. As turnover is a symptom of a larger systemic problem such as ineffective retention management, bank should to understand what causes professional employees of development bank of Ethiopia to commit them to being productive and loyal. They must design jobs, systems and organizations that support rather than hinder it. Fostering commitment means an understanding that employee need to have a stake in their work, and that employees respond when bank pay attention to their needs and involve

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