A study on key factors that influence employee retention according to employees working in DLF IT park-Chennai

Abstract

Today’s market is very competitive and it’s absolutely not an easy task for any organization to retain its high performing employees. “We can’t stop employees from leaving, unless we have a plan to make them stay”-Indra Nooyi, CEO PepsiCo.. Once an organization finds its suitable employee, the organization by all means have to ensure that the employee remain productive, satisfied and committed to the organization’s long term plans/goals. A recent study says that one third of new hires quit the job after about 6months from their date of joining. With a wide range of options available, even if an employee is slightly dissatisfied with the rapport he/she has with the organization, he/she thinks to move out and find a better place to work. It is very important for every organization to connect and understand its employees both personally and professionally to bring out the best in them. So, every organization should invest time and money in making plans to hold back with them their highest asset who will ensure growth and success of an organization. The purpose of this study is to identify key factors that induce commitment and loyalty with the employees and make them stay with the organization. This is more of an empirical study where the researcher, through questionnaire with a sample size of 170 employees selected through random sampling working for different organization in DLF IT park-Chennai draws respondent’s reflection on the elements they feel is very important for any employee to stay with the organization. Some of the key influencers are employment flexibility, security, good superior-subordinate relationship, recognition, rewards. etc.