EMPLOYEE- RETENTION : AN ANALYSIS OF INDIAN IT INDUSTRY

Abstract

Fundamental changes are taking place in the work force and the workplace that promise to radically alter the way companies relate to their employees. Hiring and retaining good employees have become the chief concerns of nearly every company in every industry. Companies that understand what their employees want and need in the workplace and make a strategic decision to proactively fulfill those needs can become the dominant players in their respective markets. The fierce competition for qualified workers results from a number of workplace trends, including:  A robust economy  Shift in how people view their careers  Changes in the unspoken "contract" between employer and employee  Corporate cocooning  A new generation of workers  Changes in social mores  Life balance Concurrent with these trends, the emerging work force is developing very different attitudes about their role the workplace. Today's employees place a high priority on the following:  Family orientation  Quality of life at work  Autonomy  Social status of the job To hold onto the people, organisations have to work counter to prevailing trends causing the job churning. Smart employers make it a strategic initiative to understand what their people want and need -- then give it to them. The organizations are competing each other to acquire the scarce talent pool.