Page 34 - Retaining Top Employees

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22 Retaining Top Employees

❏ The concept of employee retention developed as a
response to increasing voluntary employee turnover.
❏ Initially, employee retention dealt mostly with employee
“hygiene factors”—primarily compensation and benefits.
❏ It soon became clear that sustained employee retention
called for a more holistic approach, that dealt with
employees’ “higher needs” such as acceptance, esteem,
and self-fulfillment.
❏ Three particular trends are currently shaping employee
retention strategies:
• The concept of “core competencies.”
• The rise of the “free agent.”
• The concept of becoming an “employer of choice.”