Study on Employee Retention and Commitment

Abstract

Employee Retention refers to the ability of the organization to retain its employees and it's emerging as a big challenge to the organizations. Today employee retention has become an important strategic aspect for the organization. It is not only important to have the best and the most talented employees but it is equally necessary to be able to retain them for long term benefits to both the organization and its people. The purpose of this paper is to review the findings of research papers of various authors to derive the factors that impact employee commitment and retention in a work environment. The paper elaborates various factors such as career development opportunities, effective talent management strategies, investment in training and development, compensation and benefits, performance appraisals, work life balance, communication, personal causes, role of HR head and supervisors, work related policies and flexi time. There are no one fixed practices which shows the importance and significance of the influence of all these above broad points because different organizations lay different emphasis on these pointers depending upon their suitability impacting retention. Based on our understanding of the papers reviewed by us, suggestions are drawn that helps in understanding the importance of various practices for the cause of employee retention and to keep the level of employee commitment high

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