Effectiveness of Employee Retention Strategies in Industry

Abstract

Retention of employees is an important function of the HRM. Unless there is a deliberate and serious effort from the management towards this direction, the competitors in the industry are likely to attract and snatch the talent already nurtured in the company over a period of time. Careful strategies for crafting and implementing employee retention strategies are a skill and should be given top priority by the management. This paper discusses the issues and solutions to address this problem with a case study. The results of the study indicate that retention strategies should be carefully worked out for different groups and levels.