Baytech's Employee Retention Strategy
Their low turnover rate of 1.2 to 1.3 percent is due to such factors as the nature of its work environment, its location within a smaller community, and its corporate philosophy of treating employees well (Zinni, et al., 2011, p. 86). A long term employee of Baytech accords the success of the organization with practices that include competitive wages and benefits, good communications, healthy union-management relations, feedback from the company on performance, a good work environment and safe workplace, job satisfaction, and training opportunities. While Baytech’s retention strategy aids them in maintaining a low turnover rate, their corporate philosophy is missing a few key elements compared to the drivers discussed in Chapter Two (figure1 pg4). Retention drivers such as career planning/advancement, job security, and fair, non–discriminatory treatment are all important elements in maintaining a low turnover rate. Baytech can reduce attrition by showing their employees they are serious about promoting from within, committed to keeping and growing their talent, and that disciplinary actions are fair, and the means to decide work assignments and opportunities (Zinni, et al., 2011, p.