This paper sheds light on some of the factors affecting employee retention and offers typical solutions, focusing specifically on the electronic systems industry.
The following paper examines the issue of employee retention and obtainment, which is an intensive struggle between employer and employee. Retaining and obtaining employees in today’s economy is a constant campaign for the best and most deserving workers and thus this paper suggests ways of improving employee relations by improved communication, incentives, good benefits a pleasant office climate and more. The information contained within was compiled from literature found in public libraries abroad, third party investigations and personal observation.
During the 1990s, job seekers had a dizzying array of choices when they searched for work. It was a difficult task for employers to keep employees. Losing employees always meant losing knowledge, capital, skills, and experience (Watson, 2000). Losing knowledge was a major concern to organizations. If an organization lost an employee with a great amount of knowledge, it essentially lost revenue that the employee would have generated. If an employer lost an employee with a great amount of experience, it would take lots of time and money to retrain a new employee for positive production. Experience is an intangible that is relied up heavily. Every worker carries with him or her at least three basic types of experience. Every worker possesses a certain amount of industry, company, and position specific experience.