Retention Policy
A Retention Policy is a
set of guidelines and strategies put in place by an organization to retain its
talented and high-performing employees. This policy outlines the practices,
benefits, and rewards used to keep valuable employees engaged and committed to
the company for the long term.
Retention is crucial to any
organization's success as it helps minimize turnover, reduces recruitment and
training costs, and ensures the organization maintains its institutional
knowledge and expertise.
1. Purpose of the Retention
Policy
The primary goal of the Retention
Policy is to:
- Improve employee satisfaction and
engagement.
- Reduce employee turnover, especially of
high performers.
- Ensure the organization has the skills and
knowledge needed to achieve its objectives.
- Foster a work environment where employees
feel valued and are motivated to contribute to the organization’s success.
- Align employee career growth with the
company’s goals
