Human Resource Management | Employee Retention Plan
Key challenges in Attracting And Retaining The Employees In The Retail Sector
The key to the success of a business venture lies upon the performance efficiency of the employees of the firm (Ehnert& Harry, 2012). The same goes for the employees in the retail sector as well. However, in the last few years, the companies under retail sector have experienced massive employee turnovers. There is the number of factors like working on weekends, late hour shifts and many others that lead to employee turnover in the retail sectors. Moreover, other factors like immense competition, the high pressure of work, workplace politics and many other also influence the employee turnover (Jiang et al., 2012). Hence, to attract and to retain the employees, the employers and the manager of the company need to develop a strategy that values the human resource. In other words, the authorities of the companies in the retail sector must develop an effective strategy that will mutually benefit both employees and the firm. Moreover, they also need to train the employees and groom the corporate culture to retain the talent and the brains of the employees.
Human resource management industry includes the strategic planning and implementation of strategies to develop a productive workforce through motivation. However, the retail sectors face some particular challenges regarding human resource management as the employees in retail sectors directly deal with the customers (Madera, 2012). While considering the challenges both the short term and long term objectives of Human resources must be considered
According to Van De Voorde, Paauwe& Van Veldhoven (2012), one of the key challenges is the high rate of employee turnover, which means that in retail sector employees routinely come and go. This makes the training and development of the organisational workforce much more difficult than any other sector. This causes waste of both time and resources of the firms in the sector as the company has to recruit hire and train new people constantly. Moreover, it also makes hard to build customer loyalty, if the client encounters with new representative employees each time. This challenge can be addressed through recruiting the right employees and building an affinity with them. Moreover, the company needs to improve its working process as well as the human resource management planning to retain employees. While recruiting the new employees, the company must gather information about the job preferences of the candidate (Foss et al., 2015). Allocating proper job position to the employees can build job satisfaction within employees and reduce the turnover rate as well.