1.20 RESEARCH GAP There are number of studies about employee attrition and retention in various industries belongs to different sectors. Researchers have mainly given importance to study and investigate the employee attrition and retention in IT companies situated in IT hubs and in Tier I cities. These cities are significantly differed in socioeconomic and cultural aspects comparing Tier II cities. The studies on employee attrition and retention in IT companies situated in Tier II cities are scarce. This seemed to be a huge gap in investigating the problem in Tier II cities. Due to its significant difference in socioeconomic and cultural aspects and the demography of the Tier II cities, this study gets importance. Therefore, the researcher
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Edwin W. Smith argues that retention is about creating a work environment that provides a sense of belonging, pride, empowerment, stock options, control, benefits, flexibility, career growth, excitement, child care, elder care, training, etc., However, Edwin W. Smith writes that retention strategies need to fit into the organizational culture, sometimes the industry, and sometimes the geographical area. The organization to decide what will work best for the organization and for the workforce. While agreeing with Smith, it is seen that each organization adopts its own strategies to retain its (talented) employees. As a matter of fact, the employee retention strategies differ from organization to organization, industry to industry and location to location, and more importantly, from time to time. Considering the growth of the IT industry in India in the geometrical ratio, the scarcity of the workforce, the competition among the IT organizations for the talented employees, the growing market for the IT products and the clients’ requirements the IT organizations are in search of new and newer strategies to retain their …show more content…
High retention organizations do not leave the issue of employee retention to chance. Not only the human resources managers but all managers/executives are expected to work towards attrition reduction and management. People want to work for companies with a good reputation even if they get less salary. So keeping employees satisfied is an important task of the organization and its management. The strategy means creating a work environment where people enjoy what they do feel like they have a purpose and providing them the tools and training to reach their potential. It requires a plan of action, time, skill and leaders and managers who care about
Edwin W. Smith argues that retention is about creating a work environment that provides a sense of belonging, pride, empowerment, stock options, control, benefits, flexibility, career growth, excitement, child care, elder care, training, etc., However, Edwin W. Smith writes that retention strategies need to fit into the organizational culture, sometimes the industry, and sometimes the geographical area. The organization to decide what will work best for the organization and for the workforce. While agreeing with Smith, it is seen that each organization adopts its own strategies to retain its (talented) employees. As a matter of fact, the employee retention strategies differ from organization to organization, industry to industry and location to location, and more importantly, from time to time. Considering the growth of the IT industry in India in the geometrical ratio, the scarcity of the workforce, the competition among the IT organizations for the talented employees, the growing market for the IT products and the clients’ requirements the IT organizations are in search of new and newer strategies to retain their …show more content…
High retention organizations do not leave the issue of employee retention to chance. Not only the human resources managers but all managers/executives are expected to work towards attrition reduction and management. People want to work for companies with a good reputation even if they get less salary. So keeping employees satisfied is an important task of the organization and its management. The strategy means creating a work environment where people enjoy what they do feel like they have a purpose and providing them the tools and training to reach their potential. It requires a plan of action, time, skill and leaders and managers who care about