An Analytical Study on Psychological Contract and its Impact on Employee Retention in Private Hospital in Delhi NCR

Abstract

newline The current thesis is focused on performing analytical study on the PC and the resulting newlineimpact on the employee retention in private sector hospitals by developing a model newlinewhich takes into consideration variables for retention of employees in private sector newlinehospitals in India. However, the study took into consideration demographic variables newlinefor the purpose of future study. The demographic variables were taken into newlineconsideration included gender, age, marital status, educational qualification and work newlineexperience. The variables which were taken into consideration for the purpose of study newlineincluded the following work life balance, organizational support, overall employee newlineretention, trust and feedback, job satisfaction, reward and recognition, training and newlinedevelopment, intention to stay and overall employee retention. newlineFor the purpose of the study, the number of respondents are 472 while the data was newlinecollected from 20 hospitals from the Delhi (NCR) region. The study deployed both the newlineprimary data and the secondary data. The secondary data was collected through reliable newlinesources which included the aspects such as internet search engines, newspapers and newlinejournals. The primary data was collected by means of questionnaire. For analysing the newlinedata, MS Excel and SPSS software was used. The statistical technique used in the study newlineincluded descriptive statistics and inferential statistical. The techniques used in the newlinestudy included Cronbach Alpha, multiple co-relation and regression techniques. The newlinestudy provides evidence of the significant impact of various psychological contract newlinefactors on employee retention. Work-Life Balance, Training and Development, Trust newlineand Feedback, and Reward and Recognition were found to be crucial elements in newlinefostering employee loyalty and reducing turnover rates. It was found that psychological newlinecontract has significant impact on employee retention. newlineKEY WORDS: Psychological Contract, Employee Retention, Work-life balance, newlineTraining and Development, Reward