AN ANALYTICAL STUDY OF SALARY AND MONETARY REWARDS AS HR STRATEGIES IN HOSPITALITY INDUSTRY OF UTTARAKHAND AND ITS IMPACT ON EMPLOYEE RETENTION: A COMPARISON BETWEEN GARHWAL AND KUMAUN REGION

The mountainous state Uttarakhand is known for its tourist destinations since a long time. The advantage of this state is its proximity to New Delhi, national capital of India. A large number of tourists use to visit every year at different places of Uttarakhand. There are many other reasons for the tourists to visit Uttarakhand. There are variety of tourist destinations, which are also facilitated by the hospitality arrangements. The provided facilities at the tourist spots attracts the visitor to stay for a long time. Even they don't want to leave this heavenly place after their vacation. Uttarakhand has been established as a tourism state, hence many of the hotels and other accommodation setups developed by different firms. Because of advents of new hotels, hospitality professional found their opportunity around native places; hence state could reduce skill-drains. The natives of Uttarakhand are excellent in hospitality skills and hence they are scattered through-out the industry. Hotels in Uttarakhand follow different HR practices regarding salary and monetary rewards for their employees. Many of the hotels and accommodation establishments throughout the country have their work-force from Garhwal and Kumaun regions. They are successfully leading the various departmental operations at different level in hotel industry. It is painful for the natives of Uttarakhand, when they ever think to escape their villages and state for livelihood. In this research paper, the emphasis on the HR strategies for salary and monetary rewards and its impression on retaining the employee in hotels of Uttarakhand with the reference of Garhwal and Kumaun region. The data collection has been done from the working employees of hotels ranging from three stars and above category through the questionnaire. The analysis has been concluded in study area that why there is salary and monetary rewards are issues to retain the employee.