Examining Employee Retention Strategies and Their Impact on Organisational Success: An Empirical Study

Abstract

Employee retention has become a critical factor influencing organisational success, particularly in an era of heightened competition and workforce mobility. This study examines the effectiveness of various employee retention strategies and their impact on key organisational outcomes, including productivity, employee engagement, and financial performance. Using an empirical approach, the research collects and analyses data from [industry/sector] organisations through surveys and in-depth interviews with HR professionals and employees. The findings reveal that strategic retention practices, such as competitive compensation, career development opportunities, workplace flexibility, and inclusive organisational culture, significantly enhance employee commitment and reduce turnover rates. Additionally, the study highlights the role of leadership and organisational support in fostering a work environment that promotes long-term employee retention. The results provide valuable insights for HR practitioners and policymakers, emphasising the need for tailored retention strategies to drive sustainable organisational growth. The study concludes by offering recommendations for organisations to optimise their retention policies and enhance overall performance.