Non-Monetar Measures of Employee Retention in Information Technology Industry
The purpose of this study is to broaden the readers’ knowledge of the topics related to employee retention. With attrition rates ever-so-high in the information technology sector, the paper focuses on the growing importance of non-monetary measures for employee retention and how various non-monetary factors can be used to prevent attrition in the Information technology industry. The paper also aims to rank the several non-monetary factors of employee retention as per the responses received from the professionals working in the Information technology industry. The paper identifies four key non-monetary factors for employee retention. The dependent variable for the study is employee retention, and the independent variables are the several non-monetary factors that can help in employee retention within the Information technology industry which are work-life integration, opportunity for career growth, supervisor support, and work environment. The paper is based on primary research, conducted amongst the sample population of professionals working in the Information technology industry. Primary data is collected through a structured questionnaire circulated online which consisted of all the scales of the variables identified during the course of the study. The data collected is then analyzed through software like SPSS and MS Excel. Various statistical tools such as mean and standard deviation are used to rank the variables of employee retention in the Information technology industry. The paper also uses secondary sources such as books, journals, and internet search engines during the course of the study. The findings of the paper will help reduce the attrition rate in the Information technology industry and provide managers with empirical non-monetary measures for retaining their best talent within the organization.
Keywords: Retention, Work-life integration, Supervisor support, Work environment, Career growth