mrssharonkilgore
Respond to colleagues posting in the following ways: Address a…
Respond to colleagues posting in the following ways:
Address a colleague’s analysis and evaluation of the topic(s).
Please note that for each response you must include a minimum of one appropriately cited scholarly reference.
Retention Strategies in the Technology Sector
The chosen doctoral research problem is the need to come up with employee retention strategies in the technology sector. The technology sector has been rife with competition for top talent in the sector, thus resulting in a situation where the employees only work for a short time within a given organization. They tend to frequently leave for the next organization whenever they are given a better offer, thus increasing the operating costs for many technology organizations. With the competition for top talent more pronounced in the technology sector than in any other sector, it calls for the top executives to be aware of this competition and devise retention strategies that will minimize the high attrition rates linked to this sector.
Addressing retention in the technology is more of a necessity as, first, it helps to minimize operating costs. According to Al Suraihi et al. (2021), finding and recruiting replacement workers tend to be a costly affair since the organization has to conduct adverts, interviews, screening, and onboarding expenses, which eat into the organization’s revenue(Al Suraihi et al., 2021). Addressing employee retention in the technology sector is further important to enhance improved morale within the workforce. An organization that sees the top talent constantly leaving the organization can kill the morale of the remaining workers or overburden them, thus leading to productivity losses. Similarly, organizations need to focus on retaining senior or talented professionals as they are versed in solving complex problems that the organization faces. Therefore, inadequate strategies to retain such talent can lead to them moving out of the organization, thus leading to operational problems. With these reasons in place, addressing retention strategies is a must for any organization that seeks to succeed in the competitive market.
Adopting effective retention strategies has a significant impact on promoting positive social change, and this is having a workplace culture that supports equity. For instance, promoting a flexible work environment can give families more time at home, thus having stronger families and more parenting responsibilities to their children and other dependents (Kossiviet al., 2016). Additionally, having equal access to benefits such as parental leave to all genders can help promote and support parents’ leave, thus positively impacting employee well-beingand society at large.
References
Al-Suraihi, W. A., Samikon, S. A., Al-Suraihi, A. H. A., & Ibrahim, I. (2021). Employee turnover: Causes, importance and retention strategies. European Journal of Business and Management Research, 6(3), 1-10.https://doi.org/10.24018/ejbmr.2021.6.3.893Links to an external site.
Kossivi, B., Xu, M., & Kalgora, B. (2016). Study on determining factors of employee retention. Open Journal of Social Sciences, 4(05), 261.https://doi.org/10.4236/jss.2016.45029
