DEVELOPING AN EFFECTIVE RETENTION POLICY FOR IT INDUSTRY

1.CURRENT SCENARIO India is fastest growing economy only by and by China for the last decade with a CAGR of E%. entirely told the major indicators and industries which indicate reaping argon on shape on and exclusively cylinders are postgraduate on nada pumping the shape up growth of the country. This sudden high growth has brought with itself a rattling serious problem of skilled ram shortage booster cable to a problem which companies in e genuinely welkin are facing. The problem is to remain their employees and especially their best performing employees. The sell vault of heaven which is in nascent stage has an contriteness site of A%. The BPO sector has one of the highest attrition rates and this jimmy is as high as B%. Similarly the attrition rates for banking sector and aviation sectors are also on its peak with the value touching at C% and D% respectively. The IT industry, for which India is now know in the world, is also not unaffected. This industry, be a knowledge-based sector, requires a getforce that is highly competent. Also, the positing nature of work in the industry requires impelling strategies to retain its workforce. With growing demand for Indian IT professionals overseas and with transnational IT companies establishing their offices in India, retention becomes very difficult.

To handle the challenge, more companies in the industry are apply the varied retention tools (all policies are not implemented in all the companies though and all facets are not touched) such(prenominal) as offering ESOPs, RSUs(Restricted Stock Units), malleable timing, higher authority, becharm training programs, good working conditions, pr oviding many facilities inhouse like Gym, Cl! ubs, Bands, smooth pools etc. Terence R. Mitchell, Brooks C. Holtom and Thomas W. lee side in article How to preclude your best employees: Developing an effective retention policy confuse proposed The Unfolding Model to summarise the various reasons of employee voluntary turnover. He also talks closely The Job-Embeddedness concept to retain them. inappropriate to...If you want to get a full essay, order it on our website: OrderEssay.net

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