An Analysis of Employee Satisfaction as a Reliable Predictor of Employee Retention in MNCS Working in India.

Abstract

Today, the constantly changing environment, global competition, the nature of work made companies to realize the importance of employee satisfaction for the success of organization. Now-days the competitive advantage of most companies on global market lies in the ability to create a profit driven not only by cost efficiency, but by the ideas and intellectual know-how. The networked and knowledge-based environment made the intangible assets like skills, relations and reputations of highest value. Employee satisfaction is the pleasurable emotional state resulting from the appraisal of one’s jobs as achieving or facilities the achievement of one’s job values. It is a measure of workers contentedness with their job. Every industry has different business environment, different policies for employment and different compensation measures. With the objective to analyzing the influencing factors, best policies of job satisfaction and its impact on business growth, the author decided to investigate the level of employee satisfaction in six industries namely: INFOSYS, HCL, Technologies Tech Mahindra, Oracle Financial Services, Wipro and Tata Consultancy Services. The researcher prepared questionnaire for the employees and get it filled from 303 respondents from these industries. In order to find level of satisfaction among employees of different industries, it was subjected to T-test statistical tool for variance calculation. The study concluded with the statement that the HR policies are different in different industries. The way they are implemented in different organizations has a great impact on employee satisfaction and retention.