TALENT ATTRITION AND RETENTION: A DIAGNOSTIC STUDY FOR THE IT SECTOR IN INDIA
Employees are the most valuable assets of an organization. Their significance to organizations calls for not only the need to attract the best talents, but also the necessity to retain them for a long term. Organization planning should be giving close attention to why attrition is occurring in the pre-set. To ignore why people are leaving the organization is to ignore the organization’s greatest asset - its people. People are needed to accomplish the task, but people are more than just tasks they perform. They are dreams, hopes, ambitions, creativity, and innovation. To recognize and cultivate these valuable assets is one of the surest ways to build an organization that leads rather than follows in domestic and global markets. Thus, Organizations should create an environment that fosters ample growth opportunities, appreciation for the work accomplished and a friendly cooperative atmosphere that makes an employee feel connected in every respect to the organization. Retention plans are an inexpensive way of enhancing workplace productivity and engaging employees emotionally. Proficient employees keep the quality up and business operations run smoothly along with the cost saving in the long run. The current paper delves into the reasons, why IT sector in India is facing high attrition rate, and formulate various strategies of employee retention.