Question
Explain the strategies for retention of employees.
Answer :
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Employee retention is a critical aspect of Human Resource Development, as it ensures organizational stability, preserves knowledge capital, and reduces the cost associated with recruitment and training. Effective retention strategies focus on meeting employees’ professional and personal needs while aligning their goals with organizational objectives. One of the most important strategies is providing competitive compensation and benefits. Employees are more likely to stay when they feel they are fairly rewarded for their contributions. This includes not only salary but also bonuses, health benefits, retirement plans, and other incentives. Regular benchmarking of compensation with industry standards helps organizations remain attractive to their workforce. Career development opportunities play
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