ABSTRACT
Present day organizations are found to be taking all preventive measures to arrest attrition of their employee resources, but sadly they are unable to focus on retaining them. When we have introspected to explore the reason behind it, we found that action and attitude of bosses, managers, and the organization influences more than the salary, incentive, perks, etc. On the other hand, research findings have confirmed that today’s knowledge workers employed in booming service sectors have a deep desire to feel that they are succeeding and their talents and capabilities are used in the best possible way—creating a difference to their career and organization. Therefore, the onus lies on HR to identify what resonates with employees and accordingly devise policies and strategies to meet the preferences and interests of them. This kind of proactive approach is believed to augment retention. Progressive countries of contemporary times are lined up for robust hiring plans to cater the young and skilled workforce in service industries. The biggest challenge is to retain these young talents as losing them will have a huge impact on organization. This study is an attempt to visit the factors that affect employee retention in one hand and document some of the best practices followed by selected service organizations. The implications for practitioners’ are also discussed in light of the propositions.
