Impact of ESI on Employee Retention and Employer-Employee Relationship
In the competitive business landscape, employee retention is one of the most critical factors determining the long-term success of any organization. High turnover can result in increased hiring costs, loss of valuable expertise, and disruption in workflow. A key factor that significantly influences employee retention is the nature of the employer-employee relationship , and a powerful tool in enhancing this relationship is the Employees' State Insurance (ESI) system. The ESIAct, 1948 , which offers a range of benefits such as healthcare , financial security , and accident coverage , plays a pivotal role in shaping the work environment and fostering employee loyalty . In this article, we explore how ESI can improve both the employer-employee relationship and employee retention , providing businesses with the tools they need to build a stable and motivated workforce. Introduction: ESI as a Key Factor in Employee Retention Employee retention is often seen as a reflect...