Employee Retention in the Indian IT Sector: An Empirical Analysis of Respect, Remuneration, and Recognition

Abstract

Acquiring skilled employees has come into focus as a strategic imperative for any business in the competitive Indian Information Technology (IT) industry. In this study, the researcher tries to see the influence of Respect, Remuneration, and Recognition on Employee Retention. The study aimed to extract the data from the primary sources which were collected from 600 employees of the five major IT firms of Hyderabad. Data was analyzed using descriptive statistics, Pearson correlation and multiple regression analysis. Results show strong positive correlations between Respect, Remuneration, and Recognition. The regression results showed that all three dimensions have significant influence on Employee Retention, with remuneration being the most significant followed by recognition and respect. The study suggests that a combination of financial and non-financial measures is necessary for a balanced retention strategy in order to increase the stability of the workforce and the performance of the organizations.