Key success factors for company to have high employee retention rates

Abstract

The turnovers have always been a critical issue that many companies are now facing. Sooner or later the employee will leave for the new career opportunity. High turnover can cause huge negative effects on a company's performance. Theories related to managing people in the organization are analyzed to discover the factors influencing high turnover. The writer selects a qualitative method for the primary data collection. An in depth interview was conducted with employees from two companies. Firstly, the author interviews employees from different functions at a company that has a high turnover rate. To gain a deeper understanding about the topic, the author interviews employees from one successful company that has high retention rates. This paper can help readers, especially the one who is in the management team or the employee who works in the Human Resource department be aware of the turnover problem and employee satisfaction to prevent the negative outcome from the employee turnover.