Job satisfaction-A Must for employees’ retention

Job satisfaction is individual attitude towards job. It is a relatively recent term since in previous centuries the jobs available to a particular person were often predetermined by the occupation of that person's parent. There are a variety of factors that can influence a person's level of job satisfaction; some of these factors include the level of pay and benefits, the perceived fairness of the promotion system within a company, the quality of the working conditions, leadership and social relationships, achievement,advancement,growth,recognition,responsibility  and the job itself. some author define job satisfaction as Contentment arising out of interplay of employee's positive and negative feelings toward his or her job .This assumes that if employees like their jobs or certain aspects of their jobs, they will be satisfied or happy.

Employee retention refers to the ability of an organization to retain its employees. Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. Every organization invests time and money to groom a new joinee, make him a corporate ready material and bring him at par with the existing employees. The organization is completely at loss when the employees leave their job once they are fully trained. Employee retention takes into account the various measures taken so that an individual stays in an organization for the maximum period of time.

Employee retention has become a major concern for corporates in the current scenario. Individuals once being trained have a tendency to move to other organizations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. Whenever a talented employee expresses his willingness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision.

Every organization has three types of resources man, machineries and methods, but the most important is human resource of the organization. These are the human resource that converts deficiency in to efficiency. Employees are the pillars of organization. Employees play an important role for the successful functioning of the organization.  For employees job satisfaction is very important. It directly affects to produce quality outputs. If employees are unhappy it leads to inefficiency in their work, absenteeism and under organizational commitment as a result of which employees’ turnover increases.  If turnover increases, employees tend to take all the strategies, policies from the current organization to the new one. Individuals take all the important data, information and statistics to their new organization and in some cases even leak the secrets of the previous organization. Every organization needs hardworking and talented employees who can really come out with something creative and different. No organization can survive if all the top performers quit. It is essential for the organization to retain those employees who really work hard and are indispensable for the system. For retaining these employees job satisfaction is very important factor.  So job satisfaction A must for employee Retention.

The author of this article is Assistant Professor, Pioneer Institute of Professional Studies, Indore