Employee Retention

The purpose of this project is to investigate the need for employers to establish employee retention programs. The researcher will also consider numerous variables that affect employee retention rates. These variables can include, but are not limited to, career advancement opportunities, benefits, and challenging work. In today\u27s competitive business environment, organizations need to attract and retain key people. In order to be able to do this, a company needs to listen and to adapt to the ever changing needs and desires of its employees. Because we have reached an era of full employment and demand for people exceeds supply, organizations need to consider employee retention as a very serious matter. If not, companies will find it hard to be competitive in the future. The project\u27s objectives are to gather original data with a survey for the sample population and to gather ex post facto research for the same. The researcher also made a commitment to share the results of the survey with the human resource generalist of the Surface Conditioning Division of PSI International. This was a condition of being able to conduct the survey at the company. The hypotheses the researcher planned to support are: Employees at FSI International are relatively satisfied within their current position. Current expectations and their level of satisfaction with their current position are very close. The longer an employee has been in a position within FSI International, the more satisfied he or she is. The researcher received approximately a 30% return rate on the survey and reviewed ex post facto research that was available. The survey did not support the #1 hypotheses, but did support the #2 hypothesis. In addition, ex post facto research supported hypothesis #2 as well. It is interesting to note that more than 50% ofFSI International employees indicated their current overall satisfaction level with their current position was satisfactory. However, 70% also indicated that consideration had been given to leaving their current position within the last year. The information that is available on this subject is overwhelming. However, if a company wants to achieve long-term success, it needs to be aware of what is happening in this area. They need to discover the unique needs and requirements of employees. If they chose to ignore it, their best employees may just end up pursuing other opportunities