A STUDY ON EMPLOYEE RETENTION STRATEGIES IN THE IT SECTOR WITH REFERENCE TO TCS, INFOSYS, AND WIPRO

Abstract

Employee retention remains a critical challenge for IT organizations, as employees are the backbone of any company. While attracting skilled professionals is relatively easy in the IT sector, retaining them poses a significant challenge. High employee turnover in the Indian IT industry is primarily driven by factors such as inadequate compensation, limited career growth, dissatisfaction with work culture and leadership, fewer onsite opportunities, and difficulty in maintaining work-life balance. Indian IT professionals are in high demand both domestically and internationally, further intensifying competition for talent. Effective retention strategies play a crucial role in reducing attrition and ensuring organizational stability. Since key employees contribute significantly to a company’s overall growth and success, organizations must implement well-structured retention strategies to sustain their workforce. This study aims to identify the primary reasons for employee turnover, analyze the factors influencing retention, and examine the most effective retention strategies adopted by leading IT firms. The findings of this research are expected to assist HR managers in IT organizations in formulating and implementing strategies to minimize attrition and enhance employee retention.