5 Basic Principles of Retention Management

The 5 Basic Principles of Retention Management

By: J. Warren

Instructor: Dr. T. A. Woodard

HRMG 5800 - Staffing and Selection

April 28, 2014

Retention management is a systematic effort by employers to create and cultivate an environment that encourages current employees to remain at the same place of employment. At the same time, the company should have polices, practices, and procedures in place that addresses their diverse needs. Even though employee turnover is inevitable and sometimes needed, Retention is a crucial part of the staffing process. The types of turnover include Voluntary (initiated by the employee) or Involuntary (initiated by the organization). Other avoidable types of turnover would include but not limited to health problems now that require a different type of position in the company, child care, People will constantly switch out organizations whether voluntary or involuntary for many different reasons. There are 5 basic principles and objectives of retention management which include compensation, growth in responsibility, development, a good relationship with the manager, and overall success within that organization. All of these components together make the difference most times whether an employee decides to continue with the company or when it’s time to seek other employment when employees do not feel appreciated, valued, and trusted in an organization, the decision to leave maybe an easy one or a difficult one. In this paper, I will discuss the 5 principles and objectives of Retention Management and how it relates to my current position as a Felony Probation Officer.

I began my career with in corrections/probation back in April 2004. I was working at a Jewelry Store in the mall. I had many repeat customers that would come see me often. About 8 months after I started working there, I was given an award for being Top Sales Person of the previous quarter. It felt really good to be honored and rewarded by the company. But after...