Understanding Employee Retention
Matthew Russell
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Employee retention is a major focus for organizations everywhere in today's world of business. As Kearns (2003) explained, the effective setup of an organization hinges on the ability of the company to ensure its workforce is stable (p.187). With at least 50% of the workforce considering leaving the 
ir current position, it is imperative that organizations do everything in their power to ensure employees feel valued and are satisfied with their jobs (Meyers Norris Penney LLP, 2006). For many organizational leaders, the key question is, "What do we do differently to ensure we retain high quality employees for the long term?" This paper will examine some of the suggested practices companies in any industry can adopt to ensure they are doing everything possible to minimize employee turnover and retain the best talent possible.
Kearns (2003) argued that every employee should feel valued "in every sense of the world" (p.187). Often, the amount of organizational dedication to reducing turnover is dependent on the condition of the labor market; however, organizations should implement staff retention policies that ignore this fact if they expect to weather the ups and downs of the labor market (Kearns, p.189). Meyers Norris Penney LLP (2006) suggested that organizations seek to fulfill the basic needs held by every human when creating retention policies. These needs include the following:
1. To feel a sense of meaning and purpose;
2. To have a feeling of community and connection;
3. To learn and grow;
4. To feel a sense of control and autonomy;
5. To experience mastery and self-efficacy (Meyers Norris Penney LLP).
Kearns (2003) argued that every employee should feel valued "in every sense of the world" (p.187). Often, the amount of organizational dedication to reducing turnover is dependent on the condition of the labor market; however, organizations should implement staff retention policies that ignore this fact if they expect to weather the ups and downs of the labor market (Kearns, p.189). Meyers Norris Penney LLP (2006) suggested that organizations seek to fulfill the basic needs held by every human when creating retention policies. These needs include the following:
1. To feel a sense of meaning and purpose;
2. To have a feeling of community and connection;
3. To learn and grow;
4. To feel a sense of control and autonomy;
5. To experience mastery and self-efficacy (Meyers Norris Penney LLP).