Retention strategies adopted by IT Industry (HCL)

Name: Shambhavi Kumari (2006 – 2008)

Title: Retention strategies adopted by IT Industry (HCL)

Summary

Retention of key employees is critical to the long-term health and success of

any organization. It is a known fact that retaining an organizations best
employees ensures customer satisfaction, increased product sales, satisfied
colleagues and reporting staff, effective succession planning and deeply
imbedded organizational knowledge and learning.

Employee retention is one of the primary measures of the health of an

organization, which brings multi faceted benefits. With the objective of
studying the Strategies and Practices of Retaining employees prevalent in
today’s business houses with special study on retention strategies adopted
by HCL, this project aims at understanding why employees leave in the first
place, and what strategies are undertaken to get the employees stay in the
organization.

The project is based on exploratory research. The source of information of

the study consists of primary and secondary data. For the purpose of primary
data a set of questions was put together in the form of questionnaire. And
secondary data was collected from Newspapers, Journals, Reports & various
publications, business magazines etc. on the basis of information gathered
from these sources findings and data analyses was prepared which suggests
the primary reason of leaving the company by employee in HCL. These
include the pay packages, compensation, position in the company, working
conditions, and proper career development opportunities and company’s
inflexibility towards an employees family responsibilities.
Based on the limitations of the company some recommendations have been
presented in the end so as to meet the current most important trend of
growing attrition rate. This includes- adopting a Retention Strategy at all
stages starting form recruitment and selection of employees, providing an
effective pay packages and compensation, outlining an efficient career
development path for employees and most importantly catering to their
emotional, mental and family needs. Also practices should be followed to
bring the ex-employees back in the company.

Recommendations

 Employees retention strategy should be adopted to bring back the

ex employees in the organization as well as to retain the present
employees.

 Compensation and salary should be matching with the employee’s

contribution to the organization.

 Periodic reviews of the employees satisfaction level regarding to

issues like salary, work position and environment etc

 The company should initiate the career development path of its

employees along with the development of the organization.

Conclusion

The present report indicates that the following features:

1. Better job opportunities in outer market & pay are the main reasons for
increasing attrition rate.
2. The employees do not feel valued by their employer.
3. The working environment in the company also make them to leave
their job.
4. Performance Appraisals are not given at regular intervals so that the
Employee feel motivated for its work.
5. The work schedule is very much inflexible & Stressful.

However an effective retention policy could be followed to make the

employees stay in the company starting form recruitment and selection of
employees, providing an effective pay packages and compensation, outlining
an efficient career development path for employees and most importantly
catering to their emotional, mental and family needs. Also practices should
be followed to bring the ex-employees back in the company.

The above article was extracted from dissertations by the students

of Skyline College. Skyline College is amongst the top MBA and BBA
institutes in Delhi, Gurgaon (NCR)