Human Resource Management Practices and Employee Retention: A Review of Literature

Abstract

Human Resources (HR) are the most valuable asset in any organisation. Even though organisations advanced with technology, they need HR to run the technology. With this advancement in the industries completion among the organisations are very high. This opens many pathways and opportunities in the hands of the HR. The major challenge by most of the organisation today is not only managing their workforce but also retaining them. Therefore, securing and retention of skilled workforce plays a vital role for any organisation due to knowledge and skills of the employees are central to the institution’s ability to be economically competitive for growth and sustainability. Additionally, employee satisfaction is another HR issue faced by the employers today. When taken to account the importance and sensitivity of the issue retention to any organisation, this study is aimed to identify the relationship between HRM practices and employee retention based on the literature review.