Impact of Employee Retention Strategies to Reduce Employee Turnover

Abstract

Employee retention is a process by which the employees are encouraged to remain with the organization for the maximum period. Employee retention is beneficial for the organization as well as for the employees. This paper is an effort to study the factors responsible for employee turnover in the IT industry at various levels of different departments and to fonnulate strategies to reduce such turnover. Simple average, percentages and factor analysis have been used in the study. The sample size is 30 which has been selected through simple random sampling technique and the analysis has been done using statistical tools. The findings show that work related factors and employee related factors are the major factors responsible for employee turnover.