Study On Impact of Employee Retention Strategies on Employee Turnover in IT IndustryAn Exploratory Study in Bangalore

Study On Impact of Employee Retention Strategies on Employee Turnover in IT IndustryAn Exploratory Study in Bangalore

Employee Turnover is a major challenge faced by the companies globally. Employee Turnover is predominant not only in IT sector, but in other sectors as well. This study has focused in IT sector. Employees are the assets of any organization. Organizations are striving to retain their talents by implementing effective retention strategies. High Employee Turnover would subsequently have an impact on productivity and sustainability of the organization. There are two types of Employee Turnover ?? functional and dysfunctional. When productive employees leave the organization, it is said to be dysfunctional turnover and when the poor performers leave, it is called functional turnover. The focus of this study was dysfunctional turnover. Dysfunctional turnover is the concern of HR managers. When an employee leaves, it takes approximately eight weeks for this position to be replaced and in the meantime, productivity suffers. Causes and consequences of the Employee Turnover is mentioned in detail in Chapter 2. This study is an attempt to understand the impact of Retention Strategies on Employee Turnover in IT sector in India. Bangalore, being the IT hub of India, was chosen as the location of the study. Results of the study showed that Retention Strategies has an impact on Employee Turnover. Other variables such as Welfare Benefits, Personal Satisfaction and Organization Culture, which are said to be associated with the Employee Turnover were also investigated as a part of this study.

T.A Lissy.

Management Studies