Knowledge Management as an Important Part in the Global Economy Essay

Knowledge Management as an Important Part in the Global Economy - Essay Example This will be followed by the current practices that are being used by employers to attract the best candidates to their firm in the first place, which will be supplemented by examples from different organizations on how they monitor employee satisfaction, assess the required parameters and implement steps to motivate and retain the employees. In the process of  determining  the means to attract employees, the specific role of the HRM departments in different companies will be identified, in ascertaining what successful measures these departments (who is they? make sure your pronoun references are clear)  implemented and how these have contributed to competitive advantage. The need and parameters that are essential for determining the characteristics pertaining to employees’ retention will be identified, i.e, ( i.e.)((is i.e. what you want here? is the meaning clear?)  high turnover of employees is damaging to a firm. The views of experts on what retention measures can be adopted by the HRM department will form the concluding and most important part of the Literature Review.  The operational procedures  determine the employee retention and attrition rates and provide insight into the factors responsible for forcing an employee to seek alternative solutions externally. The HRM departments must take these factors into consideration while devising new plans and strategies to retain employees through the use of confidence-building measures. Journal articles dealing with the subject of retention were retrieved using databases such as ProQuest and Emerald. The search terms that were used include most common words associated with employees and their satisfaction such as  Ã¢â‚¬Ëœemployee satisfaction’, ‘employee retention, ‘employee attrition’  etc. These searches elicited several journal articles that were useful in assessing the importance of retention as well as retention strategies. Additionally, several books on  Human resource management were also consulted in order to derive supporting material that could be used.