HR Practices for Improving Employee Retention: Study on Some Selected Manufacturing Companies in Cumilla, Bangladesh
1Md. Mazharul Islam Bhuiyan, 2Abdul Jalil
1Assistant Professor, Department of Business Administration, CCN University of Science & Technology, Cumilla, Bangladesh
2Lecturer, Department of Business Administration, CCN University of Science & Technology, Cumilla, Bangladesh
https://doi.org/10.47191/jefms/v8-i2-55
ABSTRACT:
In today’s business environment, it's indisputable that having effective talent that is properly trained and competent is key in driving your organization forward. Putting lots of resources into training programs can ensure employees are always well versed in how to best serve the needs of customers and clients. After being an employee for quite a while, many of them are now looking for better opportunities. That’s why it's important to keep employees from leaving the company. Well designed employee retention programs can both attract new employees and help your business to retain their existing ones. This paper will detail how you can improve Human Resource strategies and be a great employer. This paper will describe how we can improve our retention rates by objectively looking at and analyzing both secondary & primary data. The principal purpose of the study is to discuss human resource strategies with the intent of improving retention. Primary data was collected through questionnaires completed by selected employees in the Cumilla Export processing zone (EPZ). Sample size was 200 & all the respondents were executives. The collected data was analyzed by Microsoft excel. The study founds Compensation, benefit packages, company rules & regulations, limited career advancement, lack of recognition, reward, respect greatly influenced employee retention. This paper explains nine suggestions to help improve HR retention.
KEYWORDS:
Employee retention, HR, EPZ.
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