A Study on Importance of Employee Retention Strategies Employed by IT Sector Organization to Retain Employees

Abstract

Globally, all companies are facing one of the challenging tsks which is employee retention. A significant asset of any organizations nothing but the employees’ key performance. The companies are not able to afford for losing the employees. In fact, many organizations strive & invest in retaining the talented employees through designing & implementing the effective retention strategies. An attempt had been made for identifying many factors that influence the employee retention in the modern era referring to IT companies. Also, the study investigates the influence of demographic factors on employee retention strategies. The data has been collected using questionnaire survey. After analysing the data, it is observed that it is important to have proper retention strategy for retaining employees. In fact, employees should feel appreciated and valued. The companies are aided by these strategies to minimize the employee turnover, to drain on the cost of training for new employees, management time, work interruption, reduction in productivity and so on. Suggestions have also been given that aids in developing the strategies in an appropriate manner.