Retention Strategy: A Case Study of Managing Turnover and Retaining Employees in an Automobile Manufacturing Company

Abstract

This is a case study of managing employee turnover and retaining employees in an automobile manufacturing company in Thailand. The specific objectives of the study were: (1) to study the employee turnover rate at the company under study; (2) to compare the employee turnover rates of the company under study and other companies in the automotive industry and other multinational companies; (3) to  Study the causes of turnover in the company under study; (4) To study the factors influencing employee turnover and enhancing employee retention at the company under study; (5) to study the retention strategies practices in other multinational companies. Two data collection methods; document review and focus group were applied in this study. A purposive sampling was used to select focus group participants, and a qualitative data analysis method was employed in analysing data. As a result of this study a retention model comprising six major strategies was proposed with recommendations for each strategy which include: Strategy 1: Human resource planning and recruitment; Strategy 2: Training and development; Strategy 3: Compensation and benefits; Strategy 4: Industrial relations; Strategy 5: Establish and operate monitoring system; and Strategy 6: Enhancement of external public relations.