HCL RETENTION STRATEGY

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

success
of any organization. It is a known fact that retaining an orga
nizations bestemployees ensures customer satisfaction, increased
product sales,
satisfiedcolleagues and reporting staff, effective succession
planning and deeplyimbedded organizational knowledge and
learning.E m p l o ye e r e t e n t i o n i s o n e o f t h e p r i m a r y m e a s u r
e s o f t h e h e a l t h o f a n organization, which brings multi face
ted benefits. With the objective of studying the Strategies and
Practices of Retaining employees prevalent intodays business
houses with special study on retention strategies adopted by
HCL, this project aims at understanding why employees leave in the
firstplace, and what strategies are undertaken to get the
employees stay in theorganization. The project is based on
exploratory research. The source of information of the study
consists of primary and secondary data. For the purpose of
primarydata a set of questions was put together in the form of
questionnaire. Andsecondary data was collected from Newspapers,
Journals, Reports & variouspublications, business magazines etc.
on the basis of information gatheredfrom these sources findings
and data analyses was prepared which
suggestst h e p r i m a r y r e a s o n o f l e a v i n g t h e c o m p a n y b y e
m p l o ye e i n H C L . T h e s e include the pay packages,
compensation, position in the company,
workingconditions, and proper career development opportunities
and companysinflexibility towards an employees family
responsibilities.Based on the limitations of the company some
recommendations have beenpresented in the end so as to meet
the current most important trend
of growing attrition rate. This includes- adopting a Retentio
n Strategy at all

stages starting form recruitment and selection of employees,

providing

aneffective pay packages and compensation, outlining an ef

ficient careerdevelopment path for employees and most imp
ortantly catering to theiremotional, mental and family needs.
Also practices should be followed tobring the ex-employees back
in the company.
Recommendations

Employees retention strategy should be adopted to bring back

theex employees in the organization as well as to retain
the presentemployees.

Compensation and salary should be matching with the

employeescontribution to the organization.

Periodic reviews of the employees satisfaction level regarding

toissues like salary, work position and environment etc

The company should initiate the career development path o

f itsemployees 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
forincreasing attrition rate.2.The employees do not feel valued by
their employer.
3.
The working environment in the
company also make them to leavetheir job.
4.
Performance Appraisals are not given at regular
intervals so that theEmployee feel motivated for its work.5. The
work schedule is very much inflexible &
Stressful.H o we v e r a n e f f e c t i v e r e t e n t i o n p o l i c y c o u l d b e f
o l l o we d t o m a k e t h e 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
importantlycatering to their emotional, mental and family needs.

Also practices shouldbe followed to bring the ex-employees back in

the company.