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Essay / Business - 1401
When planning for retention, talented employee turnover can have a disproportionate impact on an organization because the employees a company wants to retain are the ones most likely to leave in many cases. Read (2001) stated that each worker is five minutes away from handing in their notice and 150 hours away from walking through the door to receive a better offer. There are limits to what an organization can do to build loyalty, as today's workers have little hesitation in leaving for greener pastures. We must therefore encourage existing talents and, in doing so, promote them accordingly. Organizational balance theory can shed valuable light on these questions (March & Simon, 1958). According to this theory, an individual will stay with an organization as long as satisfactory pay, good working conditions, and development opportunities equal or exceed the time and effort required of the person. Furthermore, these judgments are affected both by a person's desire to leave the organization and by the ease with which they might do so. Employees themselves have a role to play in retention; in fact, they make the decision to commit to their current organization or move to another (Okioga, 2012). Organizational commitment refers to an employee's loyalty to the organization, willingness to exert effort on behalf of the organization, degree of organizational purpose, and desire to maintain membership (Porter 1976; Bhat and Maheshwari, 2005). Factors affecting retention are based on understanding why employees decide to stay or leave. We can divide the importance of employee intentions into different categories, for example for 30 year old and career advancing employees it is sig...... middle of article.... ..kker et d., 2008). Work engagement is a motivational-psychological nature, composed of three dimensions: vigor, dedication, and absorption (Schaufeli, Bakker, and Salanova 2006) as previously defined. A growing number of studies suggest that work engagement is undeniably a unique construct that requires continued study (Bakker and Schaufeli 2008; Macey and Schneider 2008; Meyer and Gagné 2008; Ku¨hnel, Sonnentag, and Westman 2009). Schaufeli and Bakker (2010) indicate that although the perception between organizational commitment and work engagement has been discovered, no studies demonstrate similar divisions between job satisfaction and work engagement. Difficulties in establishing discriminant validity of work engagement may reflect the mixing of affective components of job satisfaction with certain aspects of engagement, particularly dedication and motivation..