REALIZING EMPLOYEE RETENTION IN THE ERA OF TECHNOLOGICAL REVOLUTION: AN OVERVIEW

Employee Retention can be explained as the ability of the organizations to pioneer techniques and strategies to keep employees for a longer period of time. Employee retention strategies will be helpful in motivating employees and engaging them for maximum period of time so that they can contribute effectively. In order to ensure growth and learning for the employees in their current assignments and for them to enjoy their work genuine efforts need to be taken by the management. In the current scenario employee retention has become a major concern for corporate houses. There is a tendency among employees to move to other organizations for better prospects. An employee looks for a change because of lucrative salary, comfortable timings, better ambience and growth prospects. It is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons whenever a talented employee expresses his willingness to move on. For an organization's success it is vital to retain positive and motivated staff. There is a negative effect on company's morale because of high labor turnover as it increases expenses. Implementation of employee retention program is the only way of making sure that the key workers remain employed at the same time maintaining job performance and productivity. This paper aims to focus particularly on a review of extant literature on employee retention. Conclusions and implications for further research have been drawn from the literature reviewed.