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Leadership must be deeply invested in retention. Management must be skillful communicating company policies in a way that creates "buy-in" from their staff and be open to employee input. Help create "ownership" in your employees. The companies with the best retention percentages are the same companies that are actively committed to retention. They know that is costs less to keep good people than to continuously have to replace unsatisfied employees and managers.

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 exist and whether to use independent contractors or hire employees to fulfill these needs; recruit and train the best employees, ensure they are high performers; dealing with performance issues; and ensuring the personnel and management practices conform to various regulations. Activities also include managing the 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 cannot 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 must have. HRM is seen by practitioners in the field as a more innovative view of workplace management than the traditional approach. Its techniques force the managers of an enterprise to express their goals with specificity - so that they can be understood and undertaken by the workforce - and to provide the resources needed for them to successfully accomplish their assignments. As such, HRM techniques, when properly practiced, are expressive of the goals and operating practices of the enterprise overall. HRM is also seen by many to have a key role in risk reduction within organizations.

Recently, organizations have begun to consider the "HR Department" as playing a major role in staffing, training, and helping manage people so that the people and the organization are performing at maximum capability in a highly fulfilling manner.Employee Retention

Effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed, by having policies and practices in place that address their diverse needs. A strong retention strategy, therefore, becomes a powerful recruitment tool.

Retention of key employees is critical to the long-term health and success of any organization. It is a known fact that retaining the best employees ensures customer satisfaction, increased product sales, satisfied colleagues and reporting staff, effective succession planning, and deeply embedded organizational knowledge and learning. Employee retention matters as organizational issues such as training time and investment, lost knowledge, insecure employees, and a costly candidate search are involved. Hence, failing to retain a key employee is a costly proposition for an organization. Various estimates suggest that losing a middle manager in most organizations costs up to five times his salary.

Intelligent employers always realize the importance of retaining the best talent. Retaining talent has never been so important in the Indian scenario; however, things have changed in recent years. In prominent Indian metros at least, there is no dearth of opportunities for the best in the business, or even for the second or third best. Retention of key employees and treating attrition troubles has never been so important to companies.

In an intensely competitive environment where HR managers are poaching from each other, organizations can either hold on to their employees tight or lose them to competition. For gone are the days when employees would stick to an employer for years for want of a better choice. Now, opportunities are abound.

Philosophically, employee retention is important. In almost all cases, it is senseless to allow good people to leave your organization. When they leave, they take with them intellectual property, relationships, investments (in both time and money), an occasional employee or two, and a chunk of your future.

Employee retention strategies help organizations provide effective employee communication to improve commitment and enhance workforce support for key corporate initiatives. These strategies also provide full support to the marketing-communication efforts by helping the organization build customer loyalty by distinguishing and positioning the organization's unique products and services in today's crowded marketplace.

High turnover often leaves customers and employees in the lurch;Departing employees take a great deal of knowledge with them. This lack of continuity makes it hard to meet your organization's goals and serve customers well.- replacing employees costs money. The cost of replacing an employee is estimated as up to twice the individual's annual salary (or higher for some positions, such as middle management), and this doesn't even include the cost of lost knowledge.- recruiting employees consumes a great deal of time and effort, much of it is futile. - Bringing employees' up to speed takes even more time. And when you're short-staffed; you often need to put in extra time to get the work done.

Employee Motivation leads to the change in the behavior of the employees.The following are some effects of motivation:

1. Increased productivity

2. Reduced absenteeism

3. Increase efficiency.

4. Creativity of new ideas can be generated.

5. Loyalty increases.

Employees leave for many reasons, some of which you have little or no control over, such as retirement, a family member being transferred or the desire to stay home to start a family. However, executive teams should take the time to understand the reasons most employees leave and develop a plan to address these issues. Some of the most common reasons employees leave include:

1. employee's perception of poor supervision;

2. unchallenging (and therefore, uninteresting) positions;

3. limited opportunity for advancement (in role or compensation);

4. no recognition for good performance;

5. limited control over the work and customers;

6. salary and benefits are not commensurate with the job requirements;

Retention is much more effective when you put the right person into the right job. Know the job! Know the employee and their motivations. Money is important but it is not the only reason people stay with an organization. If your compensation plan is in the top 20-30% of your industry, then money will often not be the reason why people leave. There should be Employee committees to help develop retention strategies are a very effective strategy.

To conclude,Recognizing an employee's performance reinforces positive behavior and encourages additional positive behavior. If a team member feels that he or she is appreciated they will be much more likely to repeat their behaviors in the future and even put out more effort than before. When a business leader understands the power of recognizing his or her employees the culture of an organization reacts to this recognition and moves in a positive direction helping to retain more employees.