Elevating Engagement in International Corporations: A Focus on Recent Trends in Employee Retention Strategies
Authors
Term
4. Semester
Publication year
2024
Submitted on
2024-05-28
Abstract
Employee Retention is one of the most important challenges in the international human resource management of a firm. Low employee retention can lead to high cost, loss of knowledge and reduced innovation, which makes it a major concern for the long-term profitability of a firm. This paper aims to analyze current trends in employee expectations and how the human resource strategies may adapt. A collection of factors has been established that influence the satisfaction and retention of individual employees. These are put into the context of findings from case studies and personal interviews of key human resource personnel of multinational corporations. It is found that the home and host country culture, as well as the industry-context of the firm have strong impact on the retention approaches. Furthermore, strategic considerations may change the value firms put on employee retention, based on evaluations of cost-efficiency. With the developed Cycle of International Employee Retention Strategy, this paper aims to support firms in their continuous international employee retention strategizing.
Keywords
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