EMPLOYEE RETENTION – ONE OF THE MOST IMPORTANT SUCCESS FACTORS IN THE CONTEXT OF DEMOGRAPHIC CHANGE
EMPLOYEE RETENTION – ONE OF THE MOST IMPORTANT SUCCESS FACTORS IN THE CONTEXT OF DEMOGRAPHIC CHANGE

Summary/Abstract: Ongoing demographic changes and crises have affected the job market dramatically in recent years. The number of qualified workers has dropped, resulting in the so-called War for Talent. It is no longer the employers that select skilled workers, but the employees, who choose their employers. Retaining staff has therefore increasingly become a challenge for many companies. Especially highly qualified personnel show a growing tendency towards ‘job hopping’. In recent years, particular importance has been attached to job satisfaction among employees to increase company loyalty. Yet, despite complex measures to increase job satisfaction, the time that some employees spend with a company is short. This is where the present study comes in. Until now, no definite approach has been established in industrial and organisational psychology research that could comprehensively explain professional loyalty to an employer. Therefore, this article aims to analyse the most important retention factors of today’s employees and to promote them accordingly within the framework of suitable measures. At the same time, the results should highlight the importance of corporate culture, leadership qualities, personnel development, career opportunities and rewards, which are key factors in establishing company commitment. For that reason, in times of labour and skills shortage, it is not only important to improve one’s image as an employer, but also to work towards retaining valuable staff members in the organisation in the long term.

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