Abstract:
“Employee Retention” or “Staff Retention” refers to the techniques, methods and strategies opted by an company to retain their existing staff to avoid the decline in quality and to avoid the direct and indirect cost occurred due to the employees leaving the company. In general, the management of the companies adopt the approach to satisfy the employees by solving their problems at workplace or by giving them different sort of motivations so that they do not leave under ordinary circumstances. This is also a way to save the assets of the company by reducing the turnover rate as the cost of process of new recruitment is saved and they don’t have to put an additional cost to train the new employees. This also maintain and enhance the quality of the work and products produced. Existing employees are always more experienced in their work and are more beneficial when it comes to quality of the work. They can handle difficult and challenging situations in more effective manner and often understand the expectations of the management and customers. Teradata Pakistan has been hit by the employee retention problem more than any other organization. They work on niche technologies and when an experienced employee leaves the organization it is almost impossible to get the personnel of same skillset to replace him/her. New employees take time and a lot of resources/cost to be at the same level and in the meantime the quality of the deliverables suffers. For the reason this has always been a teething problem of Teradata’s management and to find a way to retain the skilled workforce is their ultimate goal always.
