Motivation and Incentives As the Main Tool for Retention of Personnel in the Organization

Abstract

The article examines the use of various motivation factors in order to retain personnel in the organization. The relevance of the research topic is due to the fact that the complexity of today's business environment is constantly changing the settings in which organizations compete for survival, with the result that special attention is paid to the acquisition and retention of quality employees, as this is seen as a key factor underlying organizational success. While many other resources are required to run a business, people are the most valuable resource that determines the success of every organization. The article considers rewards and compensation, career management, work-life balance, staff engagement, and job satisfaction as the main factors affecting staff retention. The practical significance of the study lies in the fact that its results will help organizations use both modern and traditional methods of human resource management in order to retain employees.

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