Analysis of factors influencing Employee Retention in IT industry

Abstract

The rapid advancement of technology, along with the competitive nature of the job market and the dynamic working environment in the IT sector, has made employee retention a growing challenge. High attrition rates not only increase recruitment and training costs but also impact overall productivity and organizational stability. Against this backdrop, the present study seeks to examine the key factors influencing employee retention in IT companies. These include compensation and benefits, work-life balance, career growth opportunities, organizational culture, leadership satisfaction, job satisfaction, and the evolving trends of remote or hybrid work. Additionally, the study explores the impact of various strategies aimed at engaging, developing, and retaining employees, as well as promoting workplace well-being to ensure high performance. Using a combination of quantitative and qualitative methods—such as employee data analysis, case reviews, and theoretical frameworks—the research provides insights to help IT firms identify critical retention drivers and implement effective action plans. The findings are intended to support HR professionals, organizational leaders, and policymakers in understanding the essential elements that contribute to employee stability and loyalty within the ever-changing IT landscape.