Employee Retention Strategies–Exploring Effective Methods: A Review

Abstract

In the current corporate climate, holding on to top talent is as challenging as attracting it. The increasing professional mobility, especially among Generation Y, and increased global competition have placed significant employee retention at the heart of strategic human resource management. This review paper, however, draws upon a series of recent empirical studies and conceptual models and compares what is effective for retention. It examines topics including total rewards, talent management practices, work–life balance programs, employer branding, and leadership in creating organizational commitment. This paper also highlights implementation gaps in theory-based approaches. The review endows a collated conceptual framework for steeping diverse retention strategies with the strategic business objectives. These results hold particular relevance for HR professionals and researchers interested in sustainable talent retention models that are congruent with the enforceable nature of today’s workforce expectations.