HIERACHICAL ANALYSIS OF EMPLOYEE RETENTION STRATEGIES AMONG MANUFACTURING AND IT FIRMS: A COMPARATIVE STUDY

ABSTRACT The study attempts to compare and rank various Employee Retention Strategies adopted by select Manufacturing and IT Firms of Mysore region. A total of 610 respondents, 300 from Manufacturing Sector (50 Managers & 250 Non managers) and 310 from IT Sector (50 Managers & 260 Non managers) were selected through random sampling technique. A structured questionnaire was developed by the first author to compare and rank the Employee Retention Strategies adopted by the manufacturing and IT Firms. Descriptive statistics technique was employed to find out the relative strength of each retention strategy and rank them in their order of importance. The respondents from Manufacturing and IT sector differed in their opinion about Employee Retention Strategies. Results revealed that among Manufacturing sector Job satisfaction was ranked first followed by Employer employee relationship which was ranked second, Morale was ranked third, Training and development and Employee engagement was ranked fourth and fifth respectively. Among IT sector Performance management system was ranked first, Training and Development was ranked second ,Job satisfaction, Team building and Morale was ranked third, fourth and fifth respectively.