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INTRODUCTION

Rationale of the Study

Employee Retention is defined as a systematic effort by employers to

create and foster an environment that encourages current employees to remain

employed by having policies and practices in place that address their diverse

needs. The costs associated with turnover may include lost customers, business

and damaged morale. In addition, there are the hard costs of time spent in

screening, verifying credentials, references, interviewing, hiring and training the

new employee just to get back to where you started. (et Les McKeon)

!owadays, businesses had recogni"ed employee retention and transfer of

knowledge was a critical issue to all sectors to meet the anticipated skills needs

for the business. The level of losses was a vital management issue that affects

productivity, profitability, and product and service #uality. The result of finding

and training new employees could associate high cost just to ac#uire the specific

skills and knowledge of the people who walk away.

Trans$%sia &hipping 'ine Inc. was a uni#uely positioned company based

in ebu. There main strategy was to build an e)tensive long$standing

relationship with their customers to produce a sustainable growth. The company

was now very much conscious on there turnover rate for this affects the

operation of the business. The purpose of this study was to e)amine and to

analy"e the employee retention policies of Trans$%sia &hipping Inc. on how this

gives effect to employee performance in relation to company*s productivity,

profitability and the #uality of service offered to customers and the employees*

long term commitment to the company.

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Definition of Terms:

Management -the person or persons controlling and directing the affairs

of a business, institution, etc.+ The store is under new management.

Employee -a person working for another person or a business firm for

pay.

Employer -a person or business that employs one or more people,

especially for wages or salary.

Employee retention$ to the ability of an organi"ation to retain its

employees.

Employee turnoer$ is the rate at which an employer loses employees.

!oyalty-the state or #uality of being loyal faithfulness to commitments or

obligations.

In"entie -something that incites or tends to incite to action or greater

effort, as a reward offered for increased productivity.

#enefits -something that is advantageous or good an advantage.

Strategy -a careful plan or method for achieving a particular goal usually

over a long period of time. + The skill of making or carrying out plans to

achieve a goal.

Team -a group of people or animals linked in a common purpose.

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Theoreti"al $rame%or&

$igure '( $a"tors that affe"t Employee Retention

EM)!O*EE

RETENTION

+OR,IN EN.IRONMENT $/CTORS

!earning 0 +or&ing Climate

Communi"ation Superior-Su1ordinate

Relationship

EM)!O*EE MOTI./TION $/CTORS:

Organi2ational Commitment

S&ill Re"ognition

3o1 $le4i1ilit

)/* 0 COST $/CTORS:

Cost-effe"tieness

Compensation

#enefits

OR/NI5/TION )ROR/M $/CTORS:

Employee Surey

Trainings

Career Deelopment Outsour"ing Employee Retention

)rograms

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These are the necessary factors in focusing employee retention policyon what factors to be considered in working environment+ learning - workingclimate, communication, superior$subordinate relationship on what factorsemployees* should be motivated+ organi"ational commitment, skill recognition,and job fle)ibility on how to manage pay and cost factors efficiently. 'astly, on

how effectively organi"ation program factors affect the performance ofemployees work in order to be retained in the company.