Study On Employee Retention Strategies During Covid-19

What is Employee Retention?

“Employee retention refers to the various policies and practices which let the employee stick to an organization for a longer period of time” .It is ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain the employees in their workforce. In this sense, retention becomes the strategies rather than the outcome.

In today’s environmental conscious behavior society, companies that are more responsible towards environment and sustainability practices can attract and retain employees. Employees like to be associated with companies that are environmentally friendly. Retention involves five major things:-

• Compensation
• Environment
• Growth
• Relationship
• Support

OBJECTIVE OF THE PROJECT

• To understand the basic concept of Employee Retention.
• To analyze the different strategies of Employee Retention during Covid 19 at Shreenath Engineering, Nashik.
• To evaluate the impact of Employee Retention strategies at Shreenath Engineering, Nashik.

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