A Study on the Impact of Employee Retention Policies on Organisation Productivity in Private Sector

During the last decade, employee retention has become a most critical issue for all private sector organisations as a result of the shortage of skilled labor, economic growth and employee turnover. Retention of employees is an important function of the Human Resource Management. Employees are the assets of any organization. The organizations have to strive to retain the talents of the employees by implementing effective retention strategies. These strategies would subsequently have an impact on productivity and sustainability of the organization. Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. Organisations use different HR techniques for retention. In this paper a brief overview of literature from various research findings are employed using a descriptive study technique. The present study is an attempt to identify the various retention policies practiced in different private sector organisations and evaluate the effectiveness of these policies on productivity and sustainability of the organisation.