A Study On Factors Influencing Employee Retention Strategies And Its Impact On Job Satisfaction With Reference To IT Sector – Chennai.

Abstract

The most significant challenge that each organisation has is retaining its workforce. Due to the fact that people are the most precious asset that a company has, the departure of such individuals would have catastrophic consequences for the business. It has been determined by a number of businesses that it would be more beneficial to keep their current personnel rather than to hire new workers and pay for their training and development in order to equip their workforce to fulfil the demands of the company. Organisations are devoting a significant amount of their attention, money, and resources to the preparation and execution of retention strategies in order to maintain their productive workforce. A number of factors that influence employee retention in the current period were the focus of this research, which was conducted on information technology enterprises in Chennai. The researcher has also made an attempt to investigate employee viewpoints on the many challenges that workers in the information technology sector encounter, in addition to the retention measures that are already in place. In Chennai, which is one of the most important centres for information technology in India, the study will be carried out. The bulk of information technology companies that cater to both local and international markets have their places of business mostly located in Chennai. Direct and indirect work prospects are plentiful in Chennai's information technology industry, which provides a wide range of job options. The researcher chose 664 sample respondents from the top 10 information technology businesses in Chennai for their descriptive study design. The researcher used a probability stratified random sampling strategy to get the sample respondents.