The basic objective of the present study is to find out how far employee retention policies are important for the private sector organisations;
To identify the employee retention policies practiced in private organisations;
To analyse the satisfaction level of the employees with the existing retention policies practiced in their organisations;
To evaluate the effectiveness of retention strategies on productivity and sustainability of these organisations.
In the present competitive era the private sector organisations are required to retain highly talented and well trained employees for effective organisational productivity and sustain in the market. Employee retention is about managing the people. If an organization manages people well, employee retention will take care of itself. Retention policies create a friendly work environment and make the employees to work for the betterment of the organisation. These policies make the employees not to leave the organisation and helps in maintaining good relations with the management.
The present paper focuses on the importance of making employee retention policies as an organisation wide issue. It would identify the various retention policies and the strategies for effective function of an organisation. It would also identify the benefits that the private sector organisations receive by implementing these retention policies.