retention

Examples of retention in the following topics:

• Measuring Organizational Performance

  • Customer satisfaction and/or retention - It is much cheaper to keep existing customers than to find new ones.
  • Customer retention rates underline brand loyalty and product quality.

• Building a Diverse Workforce

  • Capitalizing on this investment comes in the form of employee retention and effective incentive programs to maintain employee satisfaction.
  • A homogeneous workplace environment will only cater to the dominant group, and this type of workplace will likely result in lower retention rates for diverse talent.
  • Combining these three strategies—attracting diverse talent, training a diverse workforce, and achieving high levels of retention—stands to capture substantial value for multinational organizations.

• The Importance of Performance Targets

  • Success can be defined as progress towards strategic or operational goals such as zero defects, percentage of customer satisfaction (or retention), profitability margins, etc.

• Internal Stakeholders

  • Understanding what social causes are important to employees and acting on them can produce benefits including increased employee engagement and satisfaction, higher performance, and improved retention.

• Arguments for and against Corporate Social Responsibility

  • Proponents of CSR argue that socially responsible practices can have a positive impact on the organization by improving employee recruitment and retention, managing environmental risks by reducing harmful accidents, and differentiating brand to achieve greater consumer loyalty.

• Financial Rewards for Managers

  • These and other incentive programs are often used to reduce turnover, boost morale and loyalty, improve employee wellness, increase retention, and drive performance.

• Behaviorism: Follett, Munsterberg, and Mayo

  • Industrial psychology, according to Munsterberg, focuses on topics such as hiring workers with personalities and mental abilities best suited to certain types of vocations, as well as on ways to increase motivation, performance, and retention.

• Moral Principles in Management

  • A company's ethical practices can thus have an effect on the recruitment and retention of employees.

• Positive Reinforcement

  • Employee programs are often used to reduce turnover, boost morale and loyalty, improve employee wellness, increase retention, and drive daily employee performance.

• Scorecard Measurement

  • For example, if managers decide that a balanced scorecard should include performance measurements from the perspective of the "Customer", then they must define particular objectives of success, such as customer retention longevity, repeat sales, or customer willingness to recommend a product or service.