Company: Shongwe Tech Solutions

Shongwe Tech Solutions, a mid$-$sized IT company, has been experiencing a high employee turnover rate over the last two years. The company, which was known for its strong employee retention, has now started losing key talent to competitors. This has significantly impacted productivity and morale within teams.

Several issues have been identified:

$1.$ Lack of Career Growth Opportunities: Employees feel there is limited room for professional advancement within the company. Many high performers have left due to a lack of clear career progression.

$2.$ Work$-$Life Imbalance: Many employees report that they are expected to work long hours regularly, leading to burnout. This has been particularly true during the remote working period.

$3.$ Inadequate Compensation Packages: Shongwe Tech Solutions has not revisited its compensation policies in a while, making their pay packages less competitive in comparison to other firms in the industry.

$4.$ Exit Interviews: Recent exit interviews show that employees do not feel recognized or valued for their contributions. Some also express dissatisfaction with the company$$s management style, citing poor communication and lack of involvement in decision$-$making processes.

To address these issues, the HR team is planning to introduce several initiatives aimed at improving employee retention and engagement. However, before implementing these changes, they are looking for insights from a team of management consultants to help develop a comprehensive separation and retention management strategy.

Strategic Retention Plan

$1.$ Develop a detailed retention strategy for Shongwe Tech Solutions. Your strategy should focus on improving the three main areas of concern: career growth, work$-$life balance, and compensation. What specific actions or policies would you recommend to address these challenges? Justify your recommendations with relevant examples and references

$2.$ Explain how employee engagement and recognition programs can improve retention at Shongwe Tech Solutions. Provide a proposal for implementing a recognition program tailored to the company$$s needs