The biggest challenge nowadays is finding and keeping quality employees in order to meet organizational needs and business demands. According to this perspective, talent emerges as the keystone of organizational strategy. The authors made the modest effort to identify the factors that significantly contribute in luring prospective and resourceful employees more to their employer. Sample size for this study was 440 employees currently working in IT sector in Kolkata. The authors found this research study to be a noble contribution since talent retention practice will serve as a base for employer branding and will play the influencing role for the IT companies to reach the pinnacle of success. In addition to providing a competitive edge, these factors would also allow for the establishing the employer branding concept, which would later pay off handsomely.
Top1. Introduction
In the VUCA world, companies are becoming increasingly aware of the importance of key personnel, or individuals with exceptional abilities (Thunnissen, 2016). These highly skilled employees are extremely valuable to enterprises, making them a scarce resource that must be attracted and retained (Jain & Bhatt, 2015; Rodríguez-Sánchez et al., 2019). In fact, Juarez-Tarraga, Santandreu-Mascarell, and Marin-Garcia's (2019) research reveals that talent management, employee engagement, and retention of the best people are among the most difficult issues for HR professionals. Additionally, CEOs are also becoming more skeptical about talent management.
For employee satisfaction and retention, adequate pay and benefits are crucial. According to recent studies, providing competitive pay, bonuses, and benefits has a beneficial impact on employee retention (Gupta & Sharma, 2022). For employee engagement and retention, opportunities for professional development are essential. Recent studies have shown that career development opportunities have a favourable impact on employee retention, and that this link is moderated by perceptions of organisational support (Su & Chen, 2021). For employee well-being and retention, a healthy work-life balance must be maintained. Recent studies have demonstrated that work-life balance positively affects employee retention, with organisational commitment and job satisfaction serving as the mediators of this link (Bao, Qu, & Liu, 2021). Transformational leadership has a beneficial impact on employee retention, according to recent research (Yang & Mossholder, 2020). In order to retain employees, a company needs to have a good culture. According to recent studies, a supportive workplace environment that values employee input, respect, and collaboration can increase employee engagement and retention. Lam et al. (2015) define talent retention, also known as employee retention, as the length of time an employee stays with a company. Employee retention, they argue, not only reflects a company's consistency in hiring new employees but also indicates an employee's willingness to stay for a significant period of time. This longevity of employment is influenced by factors such as job satisfaction, opportunities for growth and development, a fair appraisal system, a supportive work environment, and a competitive compensation package (Eyster, Johnson, & Toder, 2008; Kossivi, Xu, & Kalgora, 2016; Loan-Clarke et al., 2010; Mabuza & Proches, 2014; Naeem & Saif, 2010; Nyanjom, 2013; Sinha & Sinha, 2012). To retain their valuable human resources, many companies implement various strategies and tactics.