A Study to Identify the Factors Affecting Employee Retention

Amandeep Kaur, Prabhjot K. Dilawari

Abstract: Employee retention strategy include various measures to ensure an employees stays in an organization for the maximum period of time and feeling themselves as a part of organization and refers to policies and practices use to prevent valuable employees from leaving their jobs. The study explores to identify the main factors of retention management strategies in organizations. The data was collected with the help of well structured questionnaire from 162 employees working in an organization. This study has recognized that some of the factors do affect the employee retention. These factors have substantial role to play in making employee stay i. e. salary, rewards and recognition, compensation, retirement benefits plan, promotion, involvement in decision making and in designing retention strategies. In order to rectify the above shortcoming allowing employees to participate in decision making and in designing retention strategies can be one of the non-financial incentives.

Keywords: Retention Strategies, Employee, Employee Retention, Retention Management