The human was one of the most critical resources in an organization, as well as a project. Retaining talent resources in the organization not only helps to remain the know-how in the organization, but it also helps to reduce the non-tangible cost spend by the organization in recruiting and re-train a new employee. Every change of resource in a project eventually creates an additional risk as there will breakdown on a pass down the information.
Based on the survey from JobStreet.com in 2016, there are 52% of the employee willing to move out of their current work to a new organization. The figure was getting worse compare to 2012. Only 36% of employees wish to change to a new job. Hence, retaining vital talent resources in the organization becomes the biggest challenge for the organization, especially the Small Medium Enterprise, who rely a lot on the workforce.
There are several factors which are influencing the employee to retain or move out of the organization: salary, one of the critical elements, and motivation for an employee to go to work. According to the Social Exchange Theory, the employee contribution towards the organization may get rewards in terms of economically. The employee will decide to move out form the company if they feel their input not rewarded. Job Satisfaction was the other factor which influencing the employee to leave the organization. Other than rewards, recognition from the top management was another manner to show empathetic value in the organization. The attention was a type of motivation to encourage the employee to work harder and remain in the organization for an extended period. The next influence factor for resource retain will be Career Development. The employee will lose their patience with their work if they could not see the growth in the short or long term. Therefore, training and promotion opportunities shall always in the personally develop roadmap of each employee. The plan will help the employee to set their goal and fully commit to their job to meet the goal.
There are still many factors that will influence the employee retention issue. Regardless of which factor considered, communication between the superior and subordinate are always crucial to understand their actual needs. Retaining the employee was still critical to an organization to stay competitive and also prevent the competitor from grabbing the product knowledge by headhunting those talented employees.