A study on the impact of mentoring and coaching on employee retention in telecom sector of Pakistan

Abstract

Employee turnover is a global phenomenon. In the present world of economic growth, changing socioeconomic factors, dynamic labor markets and hyperactive macro-environmental factors, of almost all the organizations face the problem of employee turnover. In this very competitive environment no business can enjoy and sustain the success until it deals with this turnover problem efficiently and successfully. In the near past, the competition among the business sectors has been immense which has increased the importance of human resource management functions. These days telecom companies are very cautious about the human resource policies and there is a great emphasis on using the human capital efficiently not only to increase the productivity but also to get the competitive advantage. Employees are considered as the basic operating unit of an organization, when an organization invests heavily to attract, recruit and then train the employees. And after all these efforts, losing these employees is a great loss to the concerned organizations. Therefore, there is a great need to first identify the factors that cause the employees to leave the organizations and secondly, devise the strategies to retain them. In the present scenario the world is turning into a global village. And so in this point in time where accessibility is no issue companies, people and jobs are highly feasible to access and reach. In this situation the biggest challenge a company can face is the retention of its workforce primarily the knowledge banks and the talented pool of candidates, side by side trying to refrain from costs of inappropriate hiring and training costs.