CHALLENGES IN HUMAN RESOURCE MANAGEMENT FOR EMPLOYEE RETENTION IN PRIVATE COMPANIES: CASE STUDY OF THE PRIVATE SECTOR IN THE REPUBLIC OF KOSOVO, PRISTINA

Objective: This study aimed to investigate the challenges faced by private companies in Pristina, Republic of Kosovo, in managing their human resources and retaining employees between 2014 and 2023. The research focused on understanding the influence of HR technology and the financial implications associated with employee turnover, particularly in relation to human resource management practices that impact employee retention. Theoretical Framework: The study was based on contemporary HRM theories, focusing on the evolving HR landscape due to demographic shifts, the "war for talent," and the COVID-19 pandemic. It also examined how HR technology enhances employee engagement and supports data-driven decision-making. Method: A mixed-methods research design was employed, involving structured surveys distributed to employees from various private companies in Pristina using probability sampling. The study collected quantitative data on job satisfaction and employee engagement, offering a comprehensive view of the multifaceted challenges faced by these companies. Results and Discussion: The findings showed a significant negative correlation between job satisfaction and turnover, and a positive correlation between engagement and intention to stay, highlighting the importance of both for employee retention. Research Implications: The study highlights the need for private companies in Pristina to enhance job satisfaction and employee engagement to reduce turnover. It recommends implementing customized HR policies and regular monitoring to tackle these issues effectively. Originality/Value: This study enriches the literature by analyzing HRM in Pristina's private sector. It underscores the need to adapt to demographic shifts, tackle talent acquisition issues, and use HR technology to boost employee retention.


INTRODUCTION
Human Resource Management (HRM) wields a pivotal influence on the triumph and endurance of private enterprises in today's ever-evolving corporate landscape.Among the myriad facets of HRM, employee retention has emerged as a paramount concern, primarily due to the contemporary backdrop of talent scarcity and cutthroat competition.In this introductory exposition, we will delve into the multifarious challenges encountered by private firms in HRM concerning employee retention, elucidating the core objectives of our research while referencing pertinent sources.
Private enterprises, fervently driven by profit maximization and market dominance, grapple with a slew of formidable obstacles in retaining their workforce.As Opatha (2019) astutely points out, these challenges encompass the escalating battle for top-tier talent, the shifting demographic composition of the workforce, ever-evolving employee expectations, the enduring reverberations of the COVID-19 pandemic, and the substantial fiscal burdens linked with employee turnover.The concept of the 'war for talent' underscores the fierce competition among private firms to both allure and retain the most gifted and adept professionals.In a world marked by heightened globalization and the omnipresence of information, prospective job seekers possess a wealth of opportunities, further complicating the arduous task of preserving a talented workforce.Navigating this intricate competitive terrain is the onus of HR professionals, as they labor to cultivate steadfast employee allegiance.
The dynamic landscape of the workforce, characterized by shifting demographics, introduces another layer of complexity.Today's workplace exhibits a burgeoning diversity, housing multiple generations, each characterized by distinctive predilections, anticipations, and communication styles.As underscored by Pitt-Catsouphes et al. (2020), ensuring employee contentment and engagement across these diverse cohorts is no trifling matter.The onset of the COVID-19 pandemic, a transformative global episode, has magnified these quandaries.The pandemic propelled a swift pivot toward remote and hybrid work paradigms, redefining the dynamics of the workplace and safety protocols.HR departments are now obliged to adapt their strategies, ensuring that both remote and on-site staff remain engaged and resolute.Furthermore, the pandemic has placed employee well-being in the spotlight, a facet that has taken center stage in retention endeavors (DeCenzo et al., 2020).
Finally, the exorbitant costs associated with employee turnover weigh heavily on the minds of private enterprises.The process of replacing an employee entails a substantial outlay, encompassing recruitment, training, diminished productivity during the transition, and the time required for a new recruit to attain full potential (SHRM, 2019).The cardinal objective of this research is to furnish a comprehensive grasp of the challenges faced by private firms in the realm of HRM concerning employee retention.It aims to proffer insights into efficacious strategies and remedies to confront these challenges.The study will delve into the ramifications of the talent acquisition tug-of-war, demographic metamorphoses, the pandemic's reverberations, and the financial outlays associated with employee turnover on HRM protocols.
Through a discerning examination of these hurdles, our research endeavors to assist private firms in adapting their HRM strategies to the evolving demands and expectations of their staff, thereby contributing to their long-term prosperity and endurance.

THEORETICAL FRAMEWORK
Maintaining a competitive edge in today's dynamic business environment is of paramount importance for private companies, and employee retention stands out as a pivotal concern in this endeavor.The ability to not only attract but also engage and retain top-tier talent is an indispensable element for ensuring long-term success.This literature review embarks on an exploration of the intricate challenges that have beset private companies in the domain of Human Resource Management (HRM) regarding employee retention during the period spanning 2014 to 2023.It seeks to shed light on the shifting landscape of HRM and the various factors that impinge upon the ability to retain employees.
The enduring concept of the "war for talent," as delineated by Opatha (2019), continues to occupy a central position in HRM discussions.Private enterprises are locked in perpetual competition, vying to both attract and retain skilled and invaluable employees.The scarcity of well-qualified professionals, coupled with the increased ease of job mobility facilitated by digital advancements, has rendered the task of retaining talent a notably intricate one, as noted by Collings and Mellahi (2019).The advent of social media and the proliferation of online job platforms have furnished job seekers with heightened access to a plethora of employment opportunities, empowering them to carefully select their ideal workplaces.Private companies now grapple with the presence of a diverse mix of generational cohorts, encompassing Baby Boomers, Generation X, Millennials, and Generation Z, each characterized by its distinctive preferences, expectations, and work methodologies.This intergenerational diversity introduces a layer of complexity into HRM strategies, demanding that companies be responsive to a spectrum of employee needs and aspirations.Indeed, recognizing and appreciating these generational disparities becomes imperative for the formulation of effective retention strategies, an insight underscored by Kupperschmidt (2018).
As articulated by Pitt-Catsouphes, Matz-Costa, and Brown (2020), each generation brings its unique set of inclinations, anticipations, and work approaches, emphasizing the vital role of HR professionals in tailoring their strategies to accommodate this rich tapestry of diversity.For instance, Baby Boomers may place a premium on stability and job security, while Millennials might prioritize work-life balance and avenues for personal growth.The presence of such a varied workforce poses challenges in terms of nurturing employee engagement, effective communication, and overall workplace satisfaction.Kupperschmidt (2018) underscores the significance of comprehending these generational distinctions, given their direct impact on the efficacy of HRM strategies.Effective communication, the design of training programs, and the structuring of benefits packages must all be guided by a thoughtful consideration of the distinct requisites of each generation.
The shifting demographics within the workforce present both complexities and opportunities in the realm of HRM.Adapting to these changes by acknowledging the unique characteristics of different generations is an essential endeavor for organizations striving to enhance employee satisfaction and bolster retention in a diverse and ever-evolving work milieu.
The emergence of the COVID-19 pandemic had a profound impact on employee retention, as elucidated by DeCenzo et al. (2020).Organizations were thrust into the necessity of accommodating remote work, fundamentally altering the dynamics of how employees engage with their workplaces.This shift to remote work offered newfound flexibility while simultaneously posing challenges in preserving employee engagement, as noted by Bloom, Li, and Roberts (2015).Companies were compelled to invest in technology and reconfigure their HRM practices to ensure the well-being and productivity of remote staff.The pandemic 6 underscored the paramount importance of mental health support and the cultivation of a worklife balance in the context of employee retention strategies, as emphasized by Rudzki (2020).

FINANCIAL COSTS OF EMPLOYEE TURNOVER
The persistent concern for private companies revolves around the financial ramifications associated with employee turnover, as emphasized by SHRM (2019).Replacing a departing employee entails both direct and indirect costs, encompassing recruitment outlays, onboarding, training expenses, and the duration required for a new employee to attain peak productivity.
These expenditures, coupled with the potential loss of institutional knowledge and client relationships, substantiate the notion that employee retention constitutes a judicious financial investment for companies.Indeed, employee turnover stands as a costly challenge that private enterprises must grapple with, exerting an impact on their financial well-being and operational efficiency.In this literature review, we undertake an examination of the fiscal costs entailed in employee turnover, while concurrently shedding light on pivotal insights gleaned from the existing literature.Furthermore, we will pinpoint strategies aimed at alleviating these burdens.
The direct costs linked with employee turnover are those expenses that arise directly during the process of replacing departing employees.These encompass recruitment, selection, onboarding, and training, as expounded by Holtom, Mitchell, Lee, & Eberly (2008).
Recruitment involves activities such as advertising job openings, conducting interviews, and the screening of prospective candidates.Onboarding and training costs entail orientation sessions, training materials, and the allocation of time and resources to acclimate new employees to their roles.In contrast, indirect costs pose a more challenging prospect for quantification but are equally noteworthy.They encompass the loss of productivity during the transitional phase, as fresh recruits require time to adapt to their positions (Holtom et al., 2008).
Moreover, indirect costs encapsulate the knowledge and experience that departing employees carry away, which can potentially impede project continuity and jeopardize client relationships.
Numerous studies offer insights into the financial intricacies of employee turnover.For instance, SHRM (2019) reveals that the cost of replacing an employee can range from 50% to 60% of the individual's annual salary, a figure encompassing recruitment, training, and lost productivity.Furthermore, in specific sectors such as healthcare and technology, turnoverrelated expenses might soar even higher due to the demand for specialized skills, as elucidated by Anderson and Adams (2016).
Mitigating the financial toll of employee turnover assumes paramount importance for private companies.Research points to several strategies for achieving this: 1. Effective Onboarding: Implementing comprehensive onboarding programs can abbreviate the time it takes for new employees to achieve peak productivity, as advocated by Bauer and Erdogan (2011).
2. Retention Strategies: Tailored retention strategies, including avenues for career development and employee recognition programs, can serve as a bulwark against high turnover rates, as proposed by Lambert, Hogan, & Barton (2001).
3. Employee Feedback: Regular feedback mechanisms and surveys can aid in the identification of retention risks, enabling companies to institute preventive measures, following the insights of Huselid & Becker (2011).
4. Competitive Compensation: Offering competitive salaries and benefits can act as a magnet for top-tier talent and deter employees from seeking superior opportunities elsewhere, as suggested by Wright, McMahan, & McWilliams (1994).
The weight of employee turnover exacts a considerable financial toll on private companies, encompassing both direct and indirect expenditures.Through a comprehensive understanding of the magnitude of these costs and the adept implementation of effective HR strategies to ameliorate them, organizations can cultivate a more stable and cost-efficient work milieu while retaining their invaluable talent.

THE ROLE OF HR TECHNOLOGY
The influence of technology on Human Resource Management (HRM) has undergone a remarkable transformation within the review period, reshaping the way organizations tackle employee retention challenges.Innovative HR technology solutions, including applicant tracking systems, employee engagement platforms, and predictive analytics, have endowed HR professionals with more effective tools for addressing these challenges, as expounded by Davenport & Harris (2017).The contemporary business landscape increasingly underscores the pivotal role of technology in HRM, revolutionizing how organizations attract, manage, and retain their workforce.This literature review embarks on an exploration of the evolving landscape of HR technology and its profound impact on HRM practices, concentrating on the timeframe spanning 2014 to 2023.
Innovative HR technology has wrought a revolution in the realm of recruitment and selection.Notably, Applicant Tracking Systems (ATS) have enabled companies to streamline The integration of HR technology has ushered in the era of data-driven decision-making.
Predictive analytics and People Analytics (P-AT) tools have empowered organizations to derive actionable insights from workforce data, a paradigm shift noted by Davenport & Harris (2017).As technology continues its inexorable advance, organizations that adeptly harness HR technology will be better poised to not only attract, manage, and retain toptier talent but also optimize their HR operations.

METHODOLOGY
of the challenges in human resource management for employee retention in private companies in the Republic of Kosovo, Pristina.This study will utilize a mixed-methods research approach to gain a holistic insight into the complexities of human resource management concerning employee retention within private companies located in Pristina, the Republic of Kosovo.By employing a combination of qualitative and quantitative methods, this research aims to identify and address the multifaceted challenges faced by these organizations.

Data Collection:
Surveys: Structured surveys will be distributed to employees of private companies in Pristina to collect quantitative data on their perceptions of HR management practices and employee retention. Sampling: Probability Sampling: Random sampling of employees from various private companies in Pristina for the survey.
Research Questions: 1. What are the major challenges in human resource management practices affecting employee retention in private companies in the Republic of Kosovo, Pristina?
2. What is the perceived impact of these strategies on employee retention in private companies in Pristina? Hypotheses: H1: There is a significant negative correlation between the level of job satisfaction and employee turnover in private companies in Pristina.
H2: There is a significant positive correlation between employee engagement and their intention to stay with the organization in the private sector in Pristina.

RESULTS AND DISCUSSIONS
In the research, a total of 50 respondents participated.Among them, 16 were female, accounting for 32%, and 34 were male, which is 68%.Seven of them were unmarried, making up 14%, while 43 were married, constituting 86%.32 of them had a bachelor's degree, which  H1: There is a correlation between the level of job dissatisfaction and employee turnover in private companies in Pristina.
To confirm the above hypothesis, I applied the Pearson correlation test between job dissatisfaction and employee turnover.As we can see below, a significant positive correlation (.453**, p-value=0.001)was found, confirming that job dissatisfaction influences employee turnover or their departure.Based on the given description, the study results indicate a significant and highly relevant positive relationship (significant positive correlation) between job dissatisfaction and employee turnover or their departure from the workplace.

Scatter Plot Showing the Relationship Between Job Dissatisfaction and Employee Turnover
The discovered correlation is .453,with a p-value of 0.001.This result demonstrates that the more dissatisfied or unhappy an employee feels with their job, the more likely they are to leave the workplace.
Job dissatisfaction appears to be a highly influential factor affecting employee turnover.
Therefore, we accept the hypothesis that "There is a correlation between the level of job dissatisfaction and employee turnover in private companies in Pristina."H2: There is a significant positive correlation between employee engagement and their intention to stay with the organization in the private sector in Pristina.
In the second hypothesis, I also used the correlation test between Intention and Employee engagement, where we can see a significant positive correlation (r=.390**, p-value=0.005),indicating that employee engagement is associated with intention.Based on the information provided, it can be concluded that there is a significant positive correlation between employee engagement and their intention to stay with the organization.This correlation suggests that employees who are more engaged are more likely to have the intention to remain with the company.

Scatter Plot Showing the Relationship Between Employee Engagement and Intention to Stay
The significant positive correlation between employee engagement and the intention to stay indicates that as employees become more engaged, their desire to remain with the organization increases.This relationship underscores the importance of fostering a work environment where employees feel connected, valued, and motivated.Higher levels of engagement typically result in employees feeling more aligned with the company's goals, more satisfied with their roles, and more committed to their work.This, in turn, reduces turnover rates and enhances organizational stability.organizations approach employee retention challenges.This discussion will delve into these key themes, highlighting their significance and implications for private companies.
The "war for talent" continues to be a central concern for private enterprises.The scarcity of well-qualified professionals and the ease of job mobility in the digital age have made retaining top-tier talent a complex task.Private companies must grapple with fierce competition in attracting and retaining skilled employees.The advent of social media and online job platforms has empowered job seekers with a plethora of opportunities, making it imperative for private companies to cultivate steadfast employee allegiance.To navigate this competitive terrain, HR professionals play a pivotal role in developing and implementing strategies to attract and retain top talent.
The transformation in workforce demographics, marked by the coexistence of multiple generations, introduces complexity into HRM strategies.Each generation, from Baby Boomers to Generation Z, comes with its unique preferences, expectations, and work methodologies.
Recognizing and accommodating these generational differences is essential for formulating effective employee retention strategies.HR professionals must tailor their approaches, including communication, training, and benefits packages, to meet the diverse needs and aspirations of their employees.This adaptability is crucial for fostering employee engagement and satisfaction across the generational spectrum.The COVID-19 pandemic has had a profound impact on employee retention.Organizations were forced to pivot toward remote and hybrid work paradigms, redefining workplace dynamics and safety protocols.HR departments had to adapt their strategies to ensure the engagement and well-being of both remote and on-site staff.
The pandemic underscored the importance of mental health support and work-life balance in employee retention efforts.Private companies must continue to evolve their HRM practices to address these new challenges and promote a supportive work environment.
Employee turnover remains a pressing concern for private companies due to its significant financial implications.The direct and indirect costs associated with replacing Understanding the magnitude of these costs is vital for organizations seeking to improve their financial well-being and operational efficiency.To mitigate the financial impact of turnover, private companies can implement strategies such as effective onboarding, retention programs, employee feedback mechanisms, and competitive compensation packages.
HR technology has undergone a remarkable transformation, offering innovative solutions for addressing employee retention challenges.Applicant Tracking Systems (ATS) streamline recruitment processes, while employee engagement platforms enhance communication and recognition.Predictive analytics and People Analytics (P-AT) tools provide data-driven insights for HRM strategies.Technology has also automated administrative tasks, minimizing errors and improving the employee experience.However, the increasing reliance on HR technology necessitates robust cybersecurity measures to protect sensitive employee data.
The evolving landscape of HRM and the multifaceted challenges associated with employee retention require private companies to adapt their HR strategies continuously.
Understanding the war for talent, demographic shifts, the impact of the COVID-19 pandemic, financial costs, and the role of HR technology is essential for fostering employee loyalty and long-term success.By embracing these insights and implementing effective retention strategies, private companies can navigate the competitive corporate landscape and ensure the endurance of their organizations.
The results of this study indicate a significant and positive relationship between job dissatisfaction and employee turnover in the private sector in Pristina.The positive correlation and low p-value (0.001) confirm that the impact of job dissatisfaction is highly influential in employees' decisions to leave their jobs.This confirms the hypothesis that there is a correlation between the level of job dissatisfaction and employee turnover in private companies in Pristina.
Regarding the second hypothesis, the results show a significant and positive correlation between employee engagement and their intention to stay with their organization.The positive correlation and low p-value (0.005) suggest that employees who are more engaged are more likely to have the intention to remain in their organization.This confirms the hypothesis that there is a correlation between employee engagement and their intention to stay in the private sector in Pristina.

CONCLUSION
In conclusion, the literature review on the challenges in Human Resource Management (HRM) for employee retention in private companies, with a focus on the role of HR technology and the financial costs of employee turnover, has shed light on the multifaceted dynamics within HRM during the period from 2014 to 2023.The research aimed to explore these challenges, identify their impact, and provide insights into strategies to mitigate the challenges and optimize HRM practices.
Throughout the literature review, we found that the evolving workforce demographics, the "war for talent," the repercussions of the COVID-19 pandemic, and the financial costs of employee turnover were significant challenges faced by private companies.Furthermore, HR technology played a pivotal role in addressing these challenges, streamlining HR processes, enhancing employee engagement, and enabling data-driven decision-making.The literature review has underscored the importance of understanding and adapting to these challenges in HRM for employee retention.The aim of the research aligns with these findings, which emphasize the necessity for private companies to develop effective HRM strategies that account for the changing workforce, attract and retain top talent, and optimize HR processes through technology.
As the research progresses, it is critical to apply the insights from this literature review to develop strategies that enable private companies to navigate the ever-evolving HRM landscape successfully.Strategies may include tailoring HR practices to accommodate diverse workforce demographics, implementing effective recruitment and retention strategies to address the "war for talent," and leveraging HR technology for data-driven decision-making and process automation.These strategies aim to not only mitigate the financial costs of employee turnover but also to enhance employee satisfaction and retention in a competitive and dynamic business environment.In essence, the literature review has set the stage for the research's aim by providing a comprehensive understanding of the challenges private companies face in HRM for employee retention and offering valuable insights into strategies and solutions.The research can now delve deeper into these challenges and explore the practical implications of implementing the identified strategies in private companies to enhance their HRM practices and secure their long-term success in the global market.
The study has confirmed that job dissatisfaction influences employee turnover in the private sector in Pristina.Additionally, the study has verified that employee engagement has a positive impact on their intention to stay with their organization.These results indicate that Challenges in Human Resource Management for Employee Retention in Private Companies: Case Study of the Private Sector in the Republic of Kosovo, Pristina ___________________________________________________________________________ Rev. Gest.Soc.Ambient.| Miami | v.18.n.9 | p.1-19 | e08297 | 2024.5 2.1 CHANGING WORKFORCE DEMOGRAPHICS Over the course of the review period, there has been a notable transformation in workforce demographics, as illuminated by Pitt-Catsouphes, Matz-Costa, and Brown (2020).
Challenges in Human Resource Management for Employee Retention in Private Companies: Case Study of the Private Sector in the Republic of Kosovo, Pristina ___________________________________________________________________________ Rev. Gest.Soc.Ambient.| Miami | v.18.n.9 | p.1-19 | e08297 | 2024.8 their recruitment pipelines, automating tasks such as resume screening and candidate tracking, thus expediting the hiring process, diminishing time-to-fill, and amplifying overall talent acquisition efficiency, a transformation elucidated by Marler & Boudreau (2017).Furthermore, HR technology plays a pivotal role in fortifying employee engagement and retention.Employee engagement platforms furnish the tools for sustained feedback, recognition, and performance management, as underscored by Bersin (2019).This, in turn, nurtures open channels of communication and empowers organizations to proactively tackle issues, ultimately elevating employee satisfaction and retention.
These insights wield the potential to inform HRM strategies, allowing companies to pinpoint areas for enhancement and make data-informed determinations regarding recruitment, training, and performance management.Technology has also revolutionized talent development and learning.Learning Management Systems (LMS) and e-learning platforms have bestowed employees with on-demand access to training and development resources, fostering personalized learning journeys that facilitate professional growth and bolster employee skill sets, as advocated by Noe (2016).The automation of HR processes stands as another fundamental role of technology in HRM.HR software platforms have automated routine administrative tasks, including payroll processing, benefits management, and leave requests, a transformation that lightens the administrative load, minimizes errors, and augments the overall employee experience, in alignment with the insights of Kavanagh, Thite, & Johnson (2019).Nevertheless, the escalating reliance on HR technology brings with it the responsibility to safeguard sensitive employee data.HR departments must prioritize the assurance of personal and sensitive information, recognizing the significance of robust cybersecurity measures in preserving employee data integrity and nurturing trust within the organization, as emphasized byDavenport & Harris (2017).The evolution of HR technology from 2014 to 2023 has left an indelible mark on various facets of HRM.It has streamlined recruitment and selection processes, enhanced employee engagement and retention, facilitated data-driven decision-making, transformed talent development, automated HR processes, and necessitated the implementation of stringent cybersecurity measures.
Challenges in Human Resource Management for Employee Retention in Private Companies: Case Study of the Private Sector in the Republic of Kosovo, Pristina ___________________________________________________________________________ Rev. Gest.Soc.Ambient.| Miami | v.18.n.9 | p.1-19 | e08297 | 2024.14 5 DISCUSSIONS The literature provided offers a comprehensive overview of the challenges encountered by private companies in the domain of Human Resource Management (HRM) concerning employee retention.The period spanning from 2014 to 2023 has witnessed a dynamic evolution in the landscape of HRM, driven by factors such as the war for talent, changing workforce demographics, the impact of the COVID-19 pandemic, and the financial costs associated with employee turnover.Additionally, the role of HR technology has transformed the way Challenges in Human Resource Management for Employee Retention in Private Companies: Case Study of the Private Sector in the Republic of Kosovo, Pristina ___________________________________________________________________________ Rev. Gest.Soc.Ambient.| Miami | v.18.n.9 | p.1-19 | e08297 | 2024.

Table 2
Employee Perceptions of Fairness in Salary, Workload, and Managerial Decisions: A Survey in Pristina's Private Sector

Table 3
Correlation Between Job Dissatisfaction and Employee Turnover in Pristina's Private Sector

Table 4
Challenges in Human Resource Management for Employee Retention in Private Companies: Case Study of the Private Sector in the Republic of Kosovo, Pristina Correlation Between Employee Engagement and Intention to Stay in Pristina's Private Sector Correlation is significant at the 0.01 level (2-tailed).