Retaining Top Performing Employees Research Paper

Retaining Top Performing Employees - search Paper ExampleAccording to Sandhiya and Kumar (1778), There are many factors which show the importance of the employee retention. They may be the turnover cost which includes hundreds of thousands to the companys expenses. In fact, it is difficult to calculate the turnover cost which includes hiring costs, training costs and productivity loss. Other than material investment, loss of companys intellect and information is also some other major drawback that an organization has to sustain to when an employee leaves. Sandhiya and Kumar further assert that the relationships between the customers and clients are developed in such a way that encourages continued sponsorship and services of the business. When an employee leaves the organization suddenly, the relationships that employee built for the company are suffered and also could be given to loss of contact with potential customer. Hence, overall business performance is affected due to lo se of connecting link between client and organization and also potential risks of losing business may emerge as client may have their loyalty attached to a particular employee instead of an organization. In extension to that, employee turnover has a ripple effect it has a tendency of affecting current workforce. Withdrawal of angiotensin converting enzyme employee can affect motivation level of other team members and in some cases may ratify anxiety in employees. Employee retention rates have their contributions to employers goodwill which helps in attracting new giving and becoming a preferred employer.