Talent Retention in Multi National Companies in Indian IT Industry A Study of Selected Software Companies

Abstract

Information technology is not just one of the fastest growing industry in India but it also plays a major role in driving the nation s economy onto a positive growth curve and has highly contributed in changing India s image from a sluggish developing economy to a global leader in technology on which many countries can rely for world class technology solutions. With a highly competitive market and a big requirement of IT professional it becomes very important for an organization to retain their best talent to main the sustainability and productivity 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 are mentioned in detail in this study. This study is an attempt to understand the impact of Retention Strategies on Employee Turnover. 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. newline