On The Study Of Retaining Key Employees

According to the survey on positions and employees, the accomplishment of an enterprise is highly depending on the performance of some of the key employees, including senior managers who make up 5% of the whole staff and the employees in the key positions (technical experts included). Generally, the second categary of employees accounts to 20% -25% of the whole staff. The stability of these employees is a kind of guarantee of success for the company. They keep the company moving forward.The turnover rate is the calculation of a company's resignation. It is one of the way to evaluate the performance of a company. If the rate is high, it always means there is something wrong with the company. If the resigned person is a key employee, the company has to spend a lot of money to find a substitute, or that might lead to the interruption of a project. So, in order to avoid the kind of loss, managers should spent some time on the study of retention. Only when we retain the right personnel in our staff, might we be successful in achieving the strategic goals in the long run.On how to retain those key employees, Abraham Maslow points out a correct way in his hierarchy of needs theory. That is to satisfy needs of employees if we want to attract and retain these employees. He hypothesizes that every human being is hierarchy of five needs: physiological needs, safety needs, social needs, esteem needs and self-actualization needs. And, as each need is substantially satisfied, the next need becomes dominant. The individual moves up the hierarchy. If you want to retain someone, then, according to Maslow, you need to understand what level that person is on in the hierarchy and focus on satisfying needs at or above that level. Then, the C&B policy, the career management, the communication and the culture all could play a role in the field. For example, the compensation and benefit could satisfy the physiological need efficiently.But human being is so complicated that it is hard to identify a person's need. This is just because: individual is different; individual is comprehensive (even his hobby could influence him); and individual is motivated by his own need (even you think the need is ridiculous). Your action should aim at the person if you really hope to satisfy him. Since there are so many kinds of tools for retention, we need to save time doing the important things. So, we should focus on the key employees first, and then, we need to keep the common tools in mind. In that way, we could retain the key employee and maintain the company healthy.