Open AccessRetention of Valuable Talent: Developing an Effective Retention Strategy for Technology Professionals in India using Structural Equation Modelling
Author(s) -
Priyada Sudhakaran,
Dr Senthil Kumar
Publication year - 2019
Publication title -
international journal of recent technology and engineering
Language(s) - English
Resource type - Journals
ISSN - 2277-3878
DOI - 10.35940/ijrte.c5219.098319
Subject(s) - employee retention , structural equation modeling , turnover , framing (construction) , business , retention rate , marketing , retention management , competition (biology) , information technology , knowledge management , public relations , management , computer science , economics , engineering , political science , ecology , structural engineering , machine learning , biology , operating system
The competition to retain valuable talent is intense in nature. Employers frame retention strategies to control job hopping which is mostly common among technology professionals. Voluntary turnover among technology professionals is a rampant issue particularly in a country like India which is on the forefront of Information Technology. Utilizing the data collected from 942 technology professionals this article formulates an employee retention strategy making use of Structural Equation Modelling. This model was developed using Analysis of Moment Structure (AMOS v21.0). This study highlights the need to examine the reasons why technology employees voluntarily quit their present company of work so as to frame a suitable retention strategy. Apart from framing a comprehensive retention strategy this research also suggests some lesser discussed retention ideas such ensuring a good job fit for every employee, quick counter strike against a job offer that an employee gets by an offer of a competitive raise in pay as well as other employee favoring changes if the resource is considered valuable to the organization