Recent Trends in HR as Useful Retention Strategy in Indian Information Technology (IT) Sector

Purpose - The focal point of this research is to study the implications of retention, various reasons for attrition and also different ways to control attrition along with the employee retention strategies implementing by the Indian IT sector. Research design, data and methodology - After thorough literature review on employee attrition and retention, questionnaire has prepared to collect the opinions of 200 employees which were chosen from 20 IT companies (10 each from large and medium size companies) with simple random sampling technique and also gathered the opinion of these companies HR managers on strategies they are implementing to retain their talent pool through personal and telephonic interviews. Results -The research completely limited to the IT companies located in the city of Pune which is emerged as a new IT hub of India. The collected data was analyzed with Microsoft Excel and frequency distribution. Conclusions - The researchers identified job associated, compensation related and inter-personal relations for quitting their positions along with the outlook of Indian IT companies related to the identification and implementation of retention strategies like incessant hikes in compensation package, improved working conditions, continuous introduction of employee welfare facilities, and genuine promotional policy, recognition and rewards, career planning and development, and exemplary leadership.