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What is a Management Dashboard?
The term Management Dashboard defines a wide range of data reporting and visualization tools or dashboards that allow using various performance & efficiency measures to report on an enterprise’s ability to organize and coordinate its activities in accordance with certain policies and in achievement of pre-determined objectives. What is a Management Dashboard?
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Money Management Action Plan

In this Money Management Action Plan you can read a range of tips and suggestions that will help you manage your money in an effective manner.

Money Management Action Plan
Home » Glossary » What is Employee Retention?
What is Employee Retention?  

What is Employee Retention?


Employee Retention is a process of encouraging existing employees to remain with their organization for the maximum period of time or until successful completion of certain activities or projects. It is a component of the employee management process to create working conditions that stimulate employees to stay in their jobs as long as required by their employer. Employee retention is opposite to employee turnover, so when turnover is low, then retention is high.

The ability of an organization to retain its workforce is called the employee retention rate. There are four ways to improve this rate. The ways are:

  • Motivation. A motivated worker has more reasons to do a job rather than an unmotivated worker. Employees can be motivated financially (salary increase, bonuses) and non-financially (extra day-offs, recognition, promotion etc.).
  • Satisfaction. Satisfied employees work better and have boosted morale because they’re happy and contented with fulfilling their desires and needs at workplace.
  • Right Allocation. If human resources with appropriate skills and knowledge are allocated in the right way, then they can easier do every kind of work.
  • Communication. The employee retention rate gets increased if employees can efficiently communicate with co-workers and senior management.

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