To Study the Relationship between Employee Re...

To Study the Relationship between Employee Retention in the Retail Industry Based on a Variety of Factors

Author Name : Nancy Ashok Tiwari, Dr. Sapna Rathore

ABSTRACT The practice of utilizing information to create greater corporate performance is known as a performance management system. For retailers, it means having the knowledge to track business and store performance, act fast, and enhance operational effectiveness. Any organization's human resources are a major factor in its success. The effectiveness of the performance management system is crucial in achieving organizational objectives quickly. Practices in performance management systems work best when they are in alignment with an organization's strategic goals. With the rise in numerous areas in the current era of globalization, PMS's importance to the company's performance is expanding quickly. The role of PMS in businesses is crucial and is growing in significance. Designing the structure for manpower, staffing, performance evaluation, compensation, and identifying training and development needs all depend on the PMS procedures. In the current environment, the performance management system techniques in the service sector, particularly in the field of retailing, have found great importance. One of the service industries where a great expectation is placed on qualified staff is retail. Around the world, retailing is a significant component of business. All business operations that culminate in the selling of goods to customers for their own use are referred to as retailing.The next challenge is to keep the chosen employees motivated and working hard after they have been hired and trained. Because inspired employees are more productive, it is the responsibility of the organization as a member of the retail administration group to motivate their staff. The performance management system's impact on retail organization performance is acknowledged by the study of its precursors and outcomes.