Paper Contents
Abstract
Employees are the most important, valuable and productive asset of an organization and retaining them is one of the toughest challenges for the managers. As the replacement cost of key employees involves huge turnover, there is a need to develop a fully integrative retention policy to tackle such type of problems. These days organizations talent is its primary source of competitive advantage. Performance of organization depends upon performance of its employees. If employees of an organization possess unique competence, that will differentiate them from their competitors. The current global economic situation has increased overall jobseekers in employment market worldwide, but there is still notable talent shortage in different sectors and different countries, this leads to increase the problem of SKILL Mismatch. As todays corporate world requires a person with multitasking skill, As a result, finding the right person for a particular job is becoming more challenging. Not only acquisition even retention of talented workforce has become greatest challenge for organization, to retain top talent market driven remuneration policy is the result from survey. Turnover of employees is costly for organization. The cost of employee turnover is from 40% - 100% of an employee's annual salary, when we consider productivity, recruiting costs, reduced efficiency in transition and time. This Study fills the gap by identifying the market value of people by adopting market driven remuneration policy and to retain them.
Copyright
Copyright © 2025 Dr.Shweta Kaur khalsa . This is an open access article distributed under the Creative Commons Attribution License.
