A STUDY ON EMPLOYEE RETENTION STRATEGIES TO RETAIN LOYAL EMPLOYEES AT DANLY INDIA PRIVATE LIMITED, RANIPET, TAMILNAD

Abstract

The Employee retention is the conscious and deliberate effort to retain quality individuals on the company payroll. Organization need to consider individuals learning needs and address them suitably by creating learning opportunities for them. Effective HR practices can reduce employee turnover and increaseemployee retention within an organization. The purpose of this research is to discover various factors affecting and influencing employee retention, to know the causes attrition and to find the ways to reduce attrition among employees. The sample consists of 130 employees, which were drawn using the convenience sampling method. This study focuses on the employee retention strategies followed by human resource in Danly (India) private limited. The study variables of the employee retention strategies are infrastructure of the company, compensation, personnel policies and procedure in force,training, careerdevelopment programs, rewards and recognition,workload, work-life balance, peer relationship, workload, growth opportunities, employee benefits. The survey questionnaire was used in this study as a research instrument to measure the employee retention strategies. Correlation analysis, Chisquare analysis, Analysis of variance (ANOVA) wasused for hypothesis testing. The study result of analysis revealed a significant impact on employee retention strategies followed in the organization. It shows that employee retention is in moderate level. The factor that most affect theemployee retention is infrastructure of the company and rewards and recognition. The compensation and training has a relationship with employee retention. For policies and procedures has a very less effect with employee retention in company.