Inertia

Employees often keep working in organizations that they are unhappy with. Reasons include financial pressure, like student loans or a mortgage.

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A short-term fix for making employees stay is to pay the employees well. This is not a long-term strategy, as having people in a company for purely financial reasons wouldn't be a good idea. But if employees aren't paid well, great performers will find it hard to stay.

  • Respecting employees, and recognizing their good work goes a long way in retaining them.
  • Employees that are rewarded, respected and recognized develop job satisfaction in their organization.
  • Subtle things including a kind action or an appreciation also form a positive mindset in the employee.
  • Providing a clear career path with regular opportunities to grow and develop, makes the employees commit themselves more to the organization.
  • Organizations that are constantly hiring talent from outside (as opposed to developing internal talent) are leaving doors open for existing employees to leave.

Providing interesting or a variety of projects keeps talented employees on board.

Innovative projects eventually reduce the need for old software/old processes that are normally active for decades as no one is capable or interested in providing a more efficient way to work.

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