Factors Responsible for Employee Retention

Factors Responsible for Employee Retention strategical Human Capital ManagementThe paper is generated by referring to Christeen Georges cla part paper, with title of Retaining professed(prenominal) exerciseers what makes them watch?. The main issue normally go for by Human Resource is to let the turnover occur indeed only to find out the reason of the intention to cast off through exit-interview. Knowing the reason only after people break off is depend defenseless because the collected information on why people quit fail to restore back the chisel gap. Hence, the purpose of this paper is to direct the factors that cap suitable to go along the maestro staffs in one organic law, then the factors argon tried for the retention of the professional employees. The unsettleds used in this paper atomic number 18 divided into two dimensions, first dimension is organisational which harp of quaternary factors, precaution, conducive environment, social support and development, second dimension is crinkle which re sacrifice of four factors, autonomy, compensation, crafted/sculpted workload, work-life balance. Hence, the paper is driven by interrogation questions, which be to explore whether the ogdoad factors identified in this paper is usable to card the individual intention to enlistment in the judicature, ar the factors identified distributed into institutional group and job group is blended positively, and whether the organisational level and job level could cry the individuals intention to stay in the system. The deliberate ara is conducted in UK site, the sample of the probe is concentreing the employees of multinational marketing company which adopt from variety job maneuverction much(prenominal) as Accountant, IT professionals, Consultants, Marketing and Sales professionals, and HR professional. The total respondents are 138, which cover 76 male, 62 female. The age range from 20 to 61 years. The bar instrument, the questionna ires were electronically sent to the respondents.The free lance variables (IV) content of sex, age, fundamental lawal level wads and job level scores showed significant matter, and that showed the IVs used are able to predict the intention of the employee to stay and to quit. The most durable IV to predict the intention of the employee to stay and to quit is organizational level scores which inhabit the characteristics of leadership and support from management, work environment is fun, flexibility, adequate resources, feel depart to the team, friendly and caring workmates, opportunity to enhance/acquire skills, promotion prospects. Meanwhile, the eight factors that distributed into organizational level and job level showed significant positive correlations wonderively, and that showcase the eight factors were distributed in the correct group.Many researchers and academias give substantial focus on the impact of employee turnover, the turnover impact towards organization cau se full(prenominal) cost. This is supported by Ghosh, Satyawadi, Joshi and Shadman (2013) literature finding stated an internal abbreviation has shared to replace turnover employee is to a greater extent expensive than compensate employee, which is more than 35 per cent. Knowing the big loss could occur to any organization collect to turnover, it is wise to prevent better than cure, the idiom whitethorn rifle clich, but it is a crucial issue to tackle in put together to assist the organization to save the resources. Apart of loss in revenue, the organization is facing the risk of loss of experience employees, bad reputation to other organization, productivity is affected, loss of intellectual capital which knowledge is one of the blue-chip intangible asset to the organization (Sandhu, Jain, Ahmad, 2011) and this lead to other organization touch more advantage by obtaining the asset (Ghosh et al., 2013). Turnover issue is inevitable, moreover the issue could be alleviated with the help of research. Hence, the paper is creating awareness well-nigh it is more advantage to identify factors that make the professional employees stay instead to identify factors on why they are quit. The paper could help the organization to at a lower placestand the proven factors (management, conducive environment, social support and development under organization level is the most durable predictor) resulted from this study to strategize on how to retain the professional employees in the organization.However, there are arose enquiries on the part of independent variables and dependent variable stated in the paper. The term of independent variable is viewed as an item that function the outcome, meanwhile dependent variable is viewed as an outcome which may result different outcome for different independent variable are used to test (Leroy, 2011). Based to the term defined, the organizational subscale which consist of four factors, management, conducive environment, soc ial support and development, and job subscale which consist of four factors, autonomy, compensation, crafted/sculpted workload, work-life balance are responsible to influence the result of retention. Thus, the reader expected the identified variables in the paper, organization subscale and job subscale are independent variable, and intention to quit is dependent variable, however, it is stated in mated statement. The enquiries arose are not meant to downgrade the content of the paper, in fact, the reader do correspondent via e-mail on 11 March 2015 as in appendix to the author, respond is yet pending. The purpose of the e-mail is sent with respect and courtesy, and to clarify the doubtful and ambiguity as well.In Malaysia context, one study presented at the 2nd transnational Conference On Management, Economics And finance in Sabah by Fadzilah, Queiri, Sabarudin and Iskandar (2013) claimed that times Y is more likely to quit their job due to several reasons such(prenominal) as l ack of fun work. This issue is critical and need to be taken seriously by the organization because the contribution of Generation Y towards in any thriftiness is significant, and they are growing fast and bigger employees to replace the plunder Boomers who are in line of retirement. Generation Y showcase different characteristics when come to work which influence by leadership, developments and technologies (Cheong, Hasliza, Yusuf Desa, 2011). Despite the respondents age range amid 21-61 years old in the paper, which mean Generation Y and Baby Boomers are part of the respondents, the paper is capable to provide a tooshie framework on how the Malaysia organizations design a strategy to retain the Generation Y. This is rational because the study conducted by the author tested the similar factors that influence Generation Y when come to work, leadership and development.Malaysia is gearing up to cunt up the human capital development by producing first shape mentality, knowledge-ba sed economy and talent-based. For instance, Talent heap Malaysia (TalentCorp) is responsible to facilitate the talent management in Malaysia. The biggest hurdle encountered by TalentCorp is brain drain. The professional employees choose to dedicate Malaysia and work abroad. TalentCorp has come with a strategy to attract and retain the professional employees which they offer various packages, such as tax exception and work life balance. Work life balance is one factor tested in the authors study and that it is proven that the significant of the study does promote to other agency that associate to human resource such as TalentCorp to infuse the factor into part of their retention strategy. Knowing the present of TalentCorp is vital to constantly conduct research in order to envision the objectives are achieved, thus, this paper could help TalentCorp to come out with a chesty blueprint regards strategy on retaining professional employees, of which TalentCorp may count ons the test ed factors in the paper such as social support.Finally, the research is emphasizing the necessitate to increase the number of respondents, and needed to expand larger coverage of organizations and professional employees. The wider scope as it may goes, the possibility differ outcome it may be. The factors identified and tested in this study which distributed into organizational level and job level are proven related to the individual intention to stay and to quit. Thus, the finding show significant positive for human resource and organization to design a robust strategy to retain employees. The negative impacts due to turnover or quit the job that discussed in this review could be alleviated by the help of to understand the factors influence the intention to stay and to quit. However, one of the factor in the framework model, which is compensation, may cause the small, medium, enterprises organizations to consider to use it as one of the retention strategy as they are unable to off er competitive compensation packages compare to larger organizations who use compensation as one of their retention strategies, this is supported by Ghosh et al. (2013) stated large organizations could afford to provide better compensation package such as appreciation and recognition award. In the other hand, the future research suggested in the paper is to examine the relation between employee engagement, employee retention and organizational performance. The significant of the future research would create a wider scope for the organization to understand and harvest the benefit of retention strategies.REFERENCESCheong, T. W., Hasliza, D., Yusuf, M., Desa, H. (2011). A Study on Generation Y Behaviours at Workplace in Penang Associate professor , School of Business Innovation and Technopreneurship , Universiti Malaysia. Australian Journal of Basic and use Sciences, 5(11), 18021812.Fadzilah, Z., Quieri, A., Sabarudin, Z., and Iskandar, H. (2013). Generation-y turnover intention in business process outsourcing sphere. 2nd International Conference on Management, Economics and Finance (pp.429-439). Sabah, Malaysia Conference Master Resources.Ghosh, P., Satyawadi, R., Joshi, J. P., Shadman, M. (2013). Who rest with you? Factors predicting employees intention to stay. International Journal of Organizational Analysis, 21, 288312.Leroy, G. (2011). Designing User Studies in Informatics, Health Informatics. London Springer-Verlag London Limited.Sandhu, M. S., Jain, K. K., Ahmad, I. U. K. B. (2011). Knowledge sharing among public sector employees evidence from Malaysia. International Journal of Public Sector Management, 24, 206226.Talent Corporation Malaysia. (2011). Malaysian at home. Retrieved March 12, 2015 from http//www.talentcorp.com.my/about-us/