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Employee Retention: Important Factors to Be Considered by Human Resource Professionals While Creating Retention
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Author(s): Karteek Ramalinga Ponnuru (BML Munjal University, India)and Rashik Gupta (BML Munjal University, India)
Copyright: 2018
Pages: 22
Source title:
Harnessing Human Capital Analytics for Competitive Advantage
Source Author(s)/Editor(s): Mohit Yadav (BML Munjal University, India), Shrawan Kumar Trivedi (Indian Institute of Management Sirmaur, India), Anil Kumar (BML Munjal University, India)and Santosh Rangnekar (Indian Institute of Technology Roorkee, India)
DOI: 10.4018/978-1-5225-4038-0.ch014
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Abstract
Attrition is a major problem in many Indian IT firms. On an average, attrition stands at around 14.5% in many major IT firms, making it a major problem. Attrition is not only a result of poor HR policies; it is also because of the many aspirations and need for career development for many young professionals. This gap between fulfilling the aspirations of the new entrants and the scope of development at any organization is the result of attrition. From the study, it has also been concluded that recognition, valuing one's individual opinion, and also the aspect of broadening and the scope of an organization to provide enough career development prospects in terms of training, executive education, and salary, etc. are also factors because of which many young professionals leave their respective organizations. Therefore, there is a need to amend the existing employee practices in order to meet the ever-changing momentum across the organizations and reduce the cost that happens due to attrition.
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