Employee Retention Management Module of the Human Resource Management System deals with the problem of ‘How to keep employees motivated, consistent, focussed and productive?’ Its basic function is to look after the retentiveness of the employees, figure out solutions for the problems they are facing which is keeping them from being consistent, build strategies to keep them motivated and give them a raise based on their performance. Managing retention of employees is a challenging task and it requires a lot of effort to maintain employee satisfaction. Well, the HRMS makes it easier for organizations to manage the retention and promotion of their employees.
The HR Retention and Promotion System aids the managing department of the organization by designing proper tactics to recognize dedicated employees, create promotion plans, form specific expectations for each employee, set up appropriate training programs, and create a better growth environment in the organization. By giving proper and fair promotions, the organizations can build better relations with the employees and also ensure growth by making talented and devoted workers stick to the company for the long term.
Assists in developing better policies for the employees to stay consistent and focused.
Ensures fair treatment of the employees by computerised analysis of their work.
Helps HRs to make decisions related to employee job security and satisfaction.
Retention of old employees is a better solution than hiring new employees which also makes it cost-effective.
Better environment results in better reviews and improves the image of the organization.
HRM can be defined as the effective management of people in an organisation.
HR management helps bridge the gap between employees’ performance and the organisation’s strategic objectives. Moreover, an efficient HR management team can
give firms an edge over their competition.
Human resource operations contribute significantly to the success of an organisation. Hence, human resource management has emerged as a popular course of study.
Business consultants note that modern human resource management is guided by several overriding principles.
Another important principle, articulated by Michael Armstrong in his book A Handbook of Human Resource Management, is that business success "is most likely to be achieved if the personnel policies and procedures of the enterprise are closely linked with, and make a major contribution to, the achievement of corporate objectives and strategic plans