Employee Retention Techniques and its impact on Employee Turnover With special reference to IT industry

Abstract

Employee turnover is a crucial fact in IT industry now a day. The term ‘EMPLOYEE TURNOVER’ is commonly defined as, “the gradual reduction in the number of employees through retirement, resignation or death. Whenever a well-developed employee leaves the organization, it creates a great loss. So, the organization loses key skills, knowledge and business relationships. HRM are greatly interested in reducing Employee turnover in the organization, in such a way that it will contribute to the maximum effectiveness, growth, and progress of the organization. Retaining employees is an ongoing effort. One of the biggest challenges faced by HR manager is to sustainand maintain their employees. Managers must recognize this and understand that establishing such fundamentals demonstrates their objectives to support nature and motivate their employees. The main objectives of this study is to know the reasons, why Employee turnover occurs,to identify the factors which make employees dissatisfy, to know the satisfactory level of employees towards their job even after maintaining and implementing employee retention techniques.