When I think of retention I think of elementary school days as to when students were retained because their grades were not adequate to advance the next grade or class. This is the negative connotation of the word. The positive side is knowing that something is producing well or effectively working well. An example is an employee you have had for 10 years and they are excellent at managing people. The employees are happy and content with the PM in charge. The PM also loves exciting and challenging tasks. Therefore, retaining a PM like this every companies dream, perhaps. The question then becomes is the PM happy at staying at the job or company? If that’s the case then retain the PM because she or he skills will be a competition to other companies to do well.

While retaining your employee is always beneficial to the company because that employee is knows companies culture knows the work structure of the company and also knows how to get work done from people within the company which is not always easy for new employee to get used to. But that being said that's not always the case first the company needs to evaluate the performance of the employee and what are significant contribution that person has made. Basically company needs to answer why they want to retain the employee and what qualities do they posses to retain them.
In industry other companies always keep on looking for good employees and have track on good people in other companies so they always look to lock this opportunity and if one company doesn't do anything other company will definetly take them away.

In theory, there should be a direct correlation between talent of an employee and his or her performance. If this were the case, it would make sense to retain the most talented employees at all costs. In reality, the relationship between performance and talent involves other variables. Motivation is one such variable. A lack of motivation can result in poor performance from even the most talented of employees. My opinion on this matter is that a company should make an effort to retain its best performing employees independent of how talented they are. Another opinion is that a company should put a lot of effort to keep employees motivated so that each employee will use his or her talents optimally.

Retaining talent is very beneficial for several reasons. First, talent sometimes is hard to find. Talented individuals can potentially help those around them to complete projects and mentor others which is awesome in the workplace. Another benefit to this is that having skilled personnel can give the company a competitive edge. Measures to retain talent comes from the culture instilled by upper management. Upper management must establish an open-discussion, non-agressive environment to allow for employees to discuss potential ideas, comments, concerns openly without being targeted or shut down. The culture is crucial because that is seen on a daily basis. Essentially getting up to work is made either easier or more difficult if the individual does not like where he/she works. An open communication type culture in an organization I believe helps because everyone is given an opportunity to grow. For example, if someone has an idea to propose a new system to monitor data records, that person can talk to their manager and pitch the idea. Whether or not the idea takes off does matter but what is more important is to communicate with others. The manager should listen and not judge or shutdown. Sure the idea may not work but the manager and team can discuss the pros and cons and come up with a decision. As opposed to being told no that is a stupid idea... Which brings me to the last point ---- if an employer is not keeping their employees happy, another employer might.

Retaining good talent is important, especially within medical device companies where historical knowledge of the product is very valuable. As stated in the posts above, the key to retaining good employees lies in keeping them motivated. On a scale of a few months to a few years, making sure the employee's good ideas are heard and buying them lunch will keep them around. However, if you want to retain them for five to ten years, then it is important that the employee feels that they are getting as much value out of the company as the company is getting out of them. This means that the employee has access programs like tuition reimbursement (if they are still persueing professional degrees), bonus programs, annual raises, and career development opportunities. This does not mean that you need to convince your best employees to stay with the company forever, it means that you need to show the employee that the next steps in his or her career can be at your company.

Retaining key employees is an important consideration for a company to be successful. Retaining these key employees also retains all of the knowledge that person has from working on past company projects which is a useful asset that a new hire can't offer. Retention of resources is also important because they have already been trained for the job and have a degree of experience in the job where as a new hire will likely need some level of training for the job and doesn't have any experience working for that particular company.

There is always a benefit to retaining talent. Experience employees are very important to the furtherance of any company. This is where star player and people of ordinary characters can come in and make a difference. However, it starts being able to retain the employees in the first plane and knowing how their skills can be beneficial to the company.

I believe that it depends on the job and the nature of the work since you may not need highly skilled labor for the task and employees may be expendable. sounds harsh but we see this in jobs like technicians and people on the manufacturing floor. training may be a pain but a few days will get you someone as good as the last. Retaining talent for jobs that require talent is ofcourse a must bit i dont want to eco the others. Retention is only important when demand for the job is low or when the skills required are high

There are rather evident benefits to retaining talent. But it is also dependent on the job in which you are retaining the talent for. If it is a rather skilled position, like a CNC machinist or a design engineer, retaining talent for those roles may be more important than other positions that can be easily replaceable. It ensures smooth flow of operations and consistent output within the company. Keeping the individuals motivated would be key to ensure that they have a sense of value in the work they are doing. This is important because if these employees truly are talented then they will have no issue in finding work elsewhere and that could harm your company overall as well.

Several of the posts above mentioned how that retention is important because new hires need time to get trained in their job, and I want to emphasize that this can have a huge impact on a project. New employees will not be nearly as efficient as experienced employees, and if there is high turnover on a project team, it will take a long time for the new team members to come up to speed and contribute to the project, which can lead to project delays. Even if they have experience working in the medical device industry, every company has their own culture and their own procedures, so there is a big learning curve even with a new hire with a lot of industry experience.

Retaining talented employees is really important not only for the team's success but also for the company. Having retained employees, you will not waste time retraining new employees. New employees usually have a buffer of two/three months new employees getting use to the work. Retaining talented employees you won't waste time training, because they know what to do. Furthermore retaining good talented employees, you already have a sense of trust knowing the job will get done.

Employee retention refers to the ability of an organization to retain its employees .. In a business setting, the goal of employers is usually to decrease employee turnover, thereby decreasing training costs, recruitment costs and loss of talent and organizational knowledge. There are some steps to improve employee retention: - Hire the right employees, Offer training, Provide guidance, Pay well, Be more flexible, and Offer benefits.

There are certainly benefits to employee retention mentioned above such as decreasing resources dedicated to employee training and recruitment costs. Other ways not mentioned is the benefit of preventing competitors from accessing the same knowledge base and talent that you have. If talented employees are a scarce resource in a competitive market, then retaining one prevents a competitor from gaining one. Working to create a work-space and atmosphere that blends with the culture of the company is very important as it boosts the employee satisfaction in their workplace and helps to retain highly talented employees. 

The company I work for values its people tremendously and prides itself on bringing in top talent. We go through an intense hiring process with numerous rounds of interviews, so we invest a lot of time and money to ensure we're bringing in the right people. For that reason, we are committed to retaining the people we bring in. Of course there will always be turnover at any company, but I think a key way to retain people is to make them feel valued and appreciated. I personally have a great relationship with my manager because he is interested in my growth as a person, not just as an employee. He cares about my development in my current role on his team, but is also supportive of my ambitions to move to different teams within the company. Since my company invests so much in bringing talent in, management wants to ensure they're able to keep that talent, even if it means losing someone on your team to go to another internal team. Failure to retain talent is extremely disruptive, since it takes time and resources to recruit candidates, interview them, decide on the right person, and bring that person up to speed, which takes away from the day to day productivity of the team.