Retention Strategy: A Case Study of Managing Turnover and Retaining Employees in an Automobile Manufacturing Company
Keywords:Employee Turnover, Retention Strategy, Human Resource Management, Thailand
This is a case study of managing employee turnover and retaining employees in an automobilemanufacturing company in Thailand. The specifi c objectives of the study were: (1) to study the employeeturnover rate at the company under study; (2) to compare the employee turnover rates of the companyunder study and other companies in the automotive industry and other multinational companies; (3) tostudy the causes of turnover in the company under study; (4) To study the factors infl uencing employeeturnover and enhancing employee retention at the company under study; (5) to study the retentionstrategies practices in other multinational companies. Two data collection methods; documentreview and focus group were applied in this study. A purposive sampling was used to select focus groupparticipants, and a qualitative data analysis method was employed in analysing data. As a result of thisstudy a retention model comprising six major strategies was proposed with recommendations for eachstrategy which include: Strategy 1: Human resource planning and recruitment; Strategy 2: Training anddevelopment; Strategy 3: Compensation and benefi ts; Strategy 4: Industrial relations; Strategy 5: Establish andoperate monitoring system; and Strategy 6: Enhancement of external public relations.
Keywords : Employee Turnover, Retention Strategy, Human Resource Management, Thailand
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Copyright@HRD Journal, Burapha University