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Problems and Best Practices in Retention

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Assignment #1
Problems and Best Practices in Retention

Question 1
What three problems might an organization have with the issue of employee retention? Explain why they could be a problem. There are many reasons an organization may have with the issue of employee retention such as; money, mergers, health benefits, family reasons, etc. The three problems I believe are money, health benefits and work overload caused by a merger. Higher salary is the number one reason why employee looks for change. When employee feels they are not being paid adequately and the differential in pay between new and longer term employees, they are more likely to leave. For instance, an organization average annual pay increase is approx. 4% however employees perceive that the newcomers are paid better. The second problem might an organization have with the issue of employee retention is the benefit programs. Employees feel that they pay too much for health insurance, especially prescription drug programs. An Organization offers their employees the opportunity to choose a benefit package that is best for their family. The employee has an option to choose from high premium low out-of-pocket cost or low premium high out-of pocket cost benefit package. Whichever one an employee decides to choose, their health insurance still cost too much. The third problem would be work overload caused by a merger. Departments being understaffed and the employees feel as if their workloads are too heavy and their time is spread too thinly. When a department is involved in a cutback after a merger, those employees who are left behind are affected by the work overload and this could most likely cause them to leave involuntarily. Higher salary, benefit packages, and over workload caused by mergers are few of the problems that an organization might have with the issue of employee retention.…...

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