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Literature Review: Employee Retention In IT Industry

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Employee Retention In IT Industry

Submitted by:- Deepti Sangal A3906413295 BBA (G) C-08

Research objective

• To know what are the reasons of employees for leaving the organization.
• To validate weather compensation is the central aspect behind employee retention or any other reason.
• To study which are the factor which cause employee turnover.
• To study what are the methods which are adopted to retain people.

Literature review
Retention is an obscure notion & there would be not any single recipe for observance employees with a company. Employees who are satisfied have …show more content…
• They have also introduced a method named a fast track career path especially for high performers. They are hoping to bring down the retention significantly with all their best efforts.
• Managers feels that that their method which is periodical promotion may be a very striking for a sales person and can an increase R&D budget a better option for a data scientist.
• Infosys is the first company to offer ESOPs to its employee .the company followed patchy compensation structure where the employees’ compensation is totally depends on the performance of individual, the team and company.
• Infosys has recently launched “Pathfinder,” which is again a career movement agenda for the workforce. The management opinion is try their best to provide employees with internship programs to test waters across different career streams available inside, move around according to their aptitude.
Retention strategies of Infosys:
• Infosys is trying the best to give them incentives timely, premium, family support allowance, …show more content…
• A positive environment should be there.
• The employee must be evaluated and recognize each and every superior work they do.
• The employee must be motivated to embrace change.
• If changes are made to the software or
Module is completed and then adequate training should be given.
• Develop a value for employees on strike.
• Be flexible in terms of work-life balance

In my opinion strategies and methods of retention are better than Infosys HCL, because in Infosys, they tried to introduce new methods like; quarterly cycle promotion, accelerated career retain employees. While in HCL their strategies are not so innovative that their employees stay longer in the organization.

Conclusion
It is observed that the company should aim to germination effective policies and practices that employee’s retention increases the level of employee engagement, loyalty and commitment. Employee engagement and participation has an impact on employee retention. Association aims to design integrated approach to employee retention, which includes the best conservation strategies such as organizational culture, pretty package for economic compensation, non-monetary motivation and effective employee development programs to reach spirited advantage in business

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