A Study on Employee Engagement and Retention in Major IT Industry in Kolkata

Abstract

For any company across the globe, employees are considered to be the assets and hence, retaining the skilled human resource for a long period of time becomes a key HR strategy. The recent trend showing high rate of attrition in all software companies has ignited a serious thought in companies management decision pattern. A proper retention policy enables a company to make progress, adds value to organizational goals and indicates the company s strength in differentiating from competitors. Various studies and industry-based practices have shown that attrition can be minimized if employers treat the employees as valued contributors by recognizing and appreciating their roles. They can also consider providing training and development sessions to their managers, offering competitive compensation plans, and increasing employee benefits to secure better retention. newlineThe general concept of employee engagement and retention needs to be studied and analysed at a greater depth, which is the primary focus of the present study, which considers IT industry to be the industry under analysis. It also tries to identify the factors that affect retention, like impact of satisfaction level. The rate of retention can also be identified to be affected by factors like challenges at work, relation with superior, receiving proper appreciation etc. Furthermore, it tries to analyze how change in employer s attitude could redefine employee loyalty towards the organization. The review of available literature in this area of study supports the theoretical construct. newlineThe objectives of the study can thus be summarized as to explore the motivational factors of employees of the selected companies which stimulate them in being associated with their respective companies for longer tenure, to identify the remedial steps against policies or practices that may pull down employee morale and finally to analyse how different factors like trust, empowerment, qualitative and quantitative changes related to their work, work- position, and environment inspir