Employee retention: Myths and methods

Type :

Research papers

Pages :

35 pages

Format :

.doc

Published date :

04/03/2009

Category :

Business & market

Sub category :

Human resources

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Summary :

Introduction
Employee retention strategies
1. Role of human resource management
2. Importance of retaining employees
3 Rs of employee retention
1. Respect, recognition and rewards
2. KEi's employee retention model
Philosophy that sets employee retention strategies
Ways to retain employees
Factors that affect employee retention
Employee retention and BPO sector industry
Facts analysis
Appendix
Conclusion

Abstract

Human resource management (HRM) is the strategic and coherent approach to the of management an organization's most valued assets - the people working there who individually and collectively contribute to the achievement of the objectives of the business. The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations. Human Resource management is evolving rapidly. Human resource management is both an academic theory and a business practice that addresses the theoretical and practical techniques of managing a workforce.

The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs you have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they can't yet afford part- or full-time help. However, they should always ensure that employees have -- and are aware of -- personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have.