Key Factors of Retention and Retention Strategies in Telecom Sector.

Abstract

A high rate of employee attrition is a challenge for most companies in the telecom sector. An insight to which are the most effective retention strategies that can have a long-term impact. Companies now adopt more than one technique to create an internal environment that will retain their employees.The purpose of the paper is to study out the key factors of retention, employee's satisfaction level about key factors and the retention strategies being followed in the telecom sector. Exploratory research is used. Primary data was collected from 107 employees from three leading companies of telecom sector (NCR) through the designed questionnaire and secondary data is collected through annual reports and online resources. With secondary research we identified ten factors (importance of training, consultation of the employees during target setting, satisfaction with compensation level, rewards and recognition given to the executives, working conditions, job capability, ability to meet targets, plans to start their own business, satisfaction with the initiatives taken by hr, and participation in management) play important role in attrition / retention. After analysis of primary data, it was found that their some factors such as compensation level, and rewards and recognition etc. their satisfaction is less while in other factors like training, and working conditions etc. it is up to the mark. A comprehensive list of the retention strategies is mentioned that are followed by the companies. The factors mentioned above wherein the satisfaction level of employees is less, companies needs to take initiatives for betterment then only required retention level will be achieved. [ABSTRACT FROM AUTHOR]