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Factors Influencing Employee Retention

This study examines factors that influence employee retention in the IT and banking industries. It analyzes performance appraisals, training and development opportunities, and workplace environment. The researchers distributed questionnaires to 120 employees in IT companies and banks and used SPSS software to analyze the data. The results showed that performance appraisals have a stronger impact on retention in IT companies, while training and development more significantly influence retention in banks. The study concludes these retention factors are important for organizations to consider in order to compete locally and globally.

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Mano Hammad
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74 views2 pages

Factors Influencing Employee Retention

This study examines factors that influence employee retention in the IT and banking industries. It analyzes performance appraisals, training and development opportunities, and workplace environment. The researchers distributed questionnaires to 120 employees in IT companies and banks and used SPSS software to analyze the data. The results showed that performance appraisals have a stronger impact on retention in IT companies, while training and development more significantly influence retention in banks. The study concludes these retention factors are important for organizations to consider in order to compete locally and globally.

Uploaded by

Mano Hammad
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Abstract

The purpose of this study is to explain the factors that help in retaining employees in IT and
banking industry. These factors include performance appraisals, training and development and
workplace environment. It is important to learn how different organizations use these variables
as tools to keep their employees satisfied and preserved. In order to carry out this research, a
count of 120 questionnaires were distributed among the respective officials in various IT
companies and banks. SPSS software was used to analyse the received data to find the
relationship between employee retention and these three factors. The study explains that some
variables such as performance appraisal, training and development and work environment
largely affect the rate of employee retention. Results showed that performance appraisal has a
significantly more impact on the retention rate of the employees working in IT sector whereas
in banking sector training and development has more influence on retention rate. And through
conducting a survey from employees working in these sectors, it is verified that banking and IT
industries are also focusing on employee retention management. The academic implication of
this research is that academicians should introduce the separate course of employee retention or
retention management for the students of HR major as this area is gaining attention of not only
researchers, but also of corporate world practitioners. And the practical implication of this
research includes the importance of employee retention in the local and global competitive
market. The practitioners must understand the worth of retention factors so that they can
compete nationally and globally by effectively implementing them in retention strategies. They
must work out for their employees as employees are the organization’s prior customers and
satisfied employees can satisfy the organization’s customers.( Effects on performance of
company pending)

Keywords: employee retention, retention factors, performance appraisal, training and


development, work environment.( Effects on performance of company pending)

C L Lam, S F Law, Y J Loo, W Y Ng, S L Ooi


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