NeuroQuantology| December 2022 | Volume 20 | Issue 22|Page 2141-2146|doi: 10.48047/nq.2022.20.22.

NQ10203
Akhileshsingh Thakur et al/ A REVIEW STUDY ON EMPLOYEE RETENTION STRATEGY IN AUTOMOBILE INDUSTRY

A REVIEW STUDY ON EMPLOYEE RETENTION

STRATEGY IN AUTOMOBILE INDUSTRY
1
Akhileshsingh Thakur,2Karanjeet Kaur Gill, 3Shreyasharma, 4Utkarsh Shrivastva, 5SunainaShukla
1,2,3,4,
Student, Kalinga University, Naya Raipur, Raipur, C.G.
5
Assistant Professor, Faculty of Commerce & Management, Kalinga University, Naya Raipur, C.G

Abstract—
The present study aims to point out the results of review of literature associated with Employee
retention practices in India within the last five years (2012-2022). the tactic wont to obtain literature
was mainly supported electronic search using Google Scholar and J-Gate plus, with key words such
as: Employee Retention, turnover rate, Employee Attrition and Retention, Employees intention to go
away organisations, the inclusion criteria like Only Empirical studies done on Indian Manufacturing
organisations, Published between 2012 and 2022. Studies from different authors and journals were
evaluated. The findings of the study suggest the different variables practiced by different
organisations to Retain employees within the organisation. The results of the study will allow
researchers to raised understand the main Employees retention practices, which may be studied
how each variable effective or ineffective in Retaining Employees. This study makes three important
contributions to literature of Employees Retention. First during this study all the parameters related
to Employee Retention were checked. Second, this study analyses the enormity of turnover rate, and 2141
third, provides suggestions to organisations to enhance a number of its strategic features to regulate
turnover rate.
Keywords— Employee Retention; Employee Turnover; Attrition and Retention.
DOINumber:10.48047/nq.2022.20.22.NQ10203 NeuroQuantology2022;20(22):2141-2146

Introduction ―Recruitment‖ to ―Retention‖. But

“Our assets walk out of the door each retention of high performing employees may
evening. we've to form sure that they're going be a challenge for many of the organisations,
to come within the next morning” Narayana due to low job loyalty of employees towards
Murthy (Chief mentor of Infosys). Since the their organisation, this has led to the
start of the new millennium, every increasing turnover rate rate. Retention of
Organisation lamented the dearth of talent Human resource means creating an enormous
and its shortening lifetime in organisations picture of organisation as ‗Great place to
(Bhatia, 2011, p. 305). Organisations are work‘ and facilitating opportunities for total
compelled to hold-on to their top performers, learning, growth and wholesome
at any cost, albeit the qualified professionals development of individuals within the
may available on adequate number but organisation, in its strive towards excellence
recruiters aren't ready to recruit professionals and value creation through human capital.
with required skills due to mismatch of fresh this is often accomplished by ensuring
qualified professionals skills to experienced appropriate policies, tools, and techniques for
professionals skills or required skills of the max utilization and retention of competent
organisation, during this sense the dearth of Employees. But in recent days the
talent persists, in order that the main target requirements of Employees and
of the organisations has shifted from goals/expectations of Organisations are
―Numbers‖ to ―Quality‖ and from mismatching, due to this mismatch most of

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NeuroQuantology| December 2022 | Volume 20 | Issue 22|Page 2141-2146|doi: 10.48047/nq.2022.20.22.NQ10203
Akhileshsingh Thakur et al/ A REVIEW STUDY ON EMPLOYEE RETENTION STRATEGY IN AUTOMOBILE INDUSTRY

the organisations face high turnover rate rate. incontrovertible fact that firms are
Organisations are struggling to arrest the ever experimenting with an entire sort of retention
increasing Employee Voluntary turnover rate; strategies, and (b) the lack of firms to develop
it has proven to be one of the most complex an integrated organizational culture that
and costly human resource challenge allows attention on both long run
confronted by several organisations (Ahuja& organizational performance ,as well as
Sharma, 2013, p. 71), Manufacturing retention. within the year 2008, S Sudha, has
industries facing around 20% turnover rate. done an in depth study on the factors
(Hay Group, 2013), Studies suggest that losing involving the attrition in automobile dealers in
a talented employee in most organisations India. consistent with her findings, among the
cost up to 4-5 times of his salary (Sharma, listed problems one among the main hurdles
2011, pp. 2-3), and also whenever employees the industry is facing is attrition. the
leave, the organisation loses their hard won businesses are finding it very hard to retain
knowledge and purchased skills. When those their employees. The organization should
employees attend a competitor, the loss is have constant touch with its employees to
compounded. in order that this study tries to understand their satisfaction and
analyse this retention practices in Indian dissatisfaction. within the year, 2012 K R
Manufacturing industries which face dearth of SreeRekha, under the guidance of
research, present study makes three Dr.T.J.kamalanabhan has done an in depth
important contributions to the literature of study on the factors involving employee
turnover rate and Retention. First during this attrition in BPO in India. consistent with their
study all the parameters related to Employee findings from the research it had been found
Retention were checked. Second, this study that In India over the past few years, the
analyses the enormity of turnover rate, and ITES/BPO sector has been growing in leaps
third, provides suggestions to organisations to and bounds. supported the gaps identified
enhance a number of its strategic features to from the literature, the study seeks to look at
regulate turnover rate. the influence of the intervening variables like 2142
organizational commitment on turnover
Literature Review intentions of employees .Applying mediation
In the year 2006, ArunaRanganathan of multiple correlation technique, an empirical
Cornell University, USA and SaroshKuruvilla of examination was conducted .The results
Cornell University, USA has done an in depth supported 208 employees’ responses from 5
study on the factors the matter of high organizations, indicated that antecedents of
turnover within the automobile sector in turnover within the conceptual model of this
India, where relatively well-educated study were significantly related to turnover
employees are performing a spread of rate intention mediated by organizational
primarily low skill, low cost jobs. We highlight commitment. Results of the mediated
the varied approaches employers are taking regression analyses found that organizational
to unravel the turnover problem. As we'll commitment may be a significant mediator
argue a number of these strategies are fairly between organizational justice, satisfaction
traditional, that specialize in various and organizational support viz a viz turnover
instrumental incentives to market employee intentions. The findings suggest that
retention, while some others are new and organizations got to specialise in the way to
rather radical, particularly the articulation of foster commitment, enhance job satisfaction
an organizational and work culture tailor- and to supply support to facilitate employee
made for the actual demographic profile of retention. Finally, the implications for
dealer employees :young, upper bourgeoisie, organizational research, managerial practice
welleducated graduates. supported anecdotal and therefore the need for future research
evidence and interviews with industry are discussed(Khobragade, Bhambulkar,
personnel. (a) the recent and rapid climb of &Chawda, 2022) .Most of the research on
the industry and therefore the Employee Retention focuses on why
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Akhileshsingh Thakur et al/ A REVIEW STUDY ON EMPLOYEE RETENTION STRATEGY IN AUTOMOBILE INDUSTRY

employees leave. Focusing only on leavers Data Collection

and reasons for leaving ignores something The data for the study are collected by Survey
very powerful-why people stay. Staying method. The contact methods are Direct &
employees are embedded with the Personal.
organization; they need built some
connections with the organisation. There are Data Source The data are collected from 2
three sorts of connections: first Employees main sources, i.e., Primary source and
links with fellow employees, second Secondary source.
Employees perfect fit their jobs and third one Primary source
sacrifice. Each of those employees‘ Here the data are collected by direct personal
connections could also be focused on the interview and indirect oral investigation.
encompassing community(Patil, R. N., Interview was conducted with the HR
&Bhambulkar, A. V.,2020). Employees who manager of the Organization, and oral
have more links, a stronger sense of fit, and investigation was done with each
grater sacrifices related to leaving the Department’s in-charge. Information was also
community, they might even be less likely to collected by drafting a questionnaire which
quit when quitting would involve relocating was distributed to the other employees of the
out of the community. Organizations adopting Organization.
―one size fits for all‖ policy won't add this
era. Most of the Indian manufacturing Secondary source 2143
organizations neglect the first signs of Here the data are collected from various
Employees Turnover, most of the books, brochures, Company’s website, etc.
organisations don‘t have a separate, Previous year’s data which were stored in the
dedicated department or head associated Organization are also used for comparison
with control turnover rate or head of and analysis.
Retention, it's considered one among the
routine HR department work. a 3rd new Sampling plan
perspective on Employee Retention suggests Type of population
that the new motives that drive individual to The type of universe selected in sample
quit could also be different than the design is finite population.
explanations they supply after the choice has
been made. The Forces model identifies eight Sample unit
distinct motivational forces that act because The sample unit in this research is limited to
the direct motivators driving quit decisions the employees of the Organization.
(Essentials, 2006, pp. 61-65).
Methodology Sample size
Historical research method has been used in The size of the sample is i.e., in % of the
the present study for evaluating literature population.
pertaining time period of last five years (2012- Sampling method
2022). For the evaluation purpose of As the population is known , the sampling is
Employee Retention and turnover, the done using Probability sampling and the
literature search was based on some HRM sampling technique used is Stratified Random
core books and mainly on electronic search Sampling. The samples are selected from each
using Google Scholar and J-Gate plus, the department. Broadly there are departments
terms used in the search process included in the organization. The sample consists of %
headers Human Resource Management with of the population. The populations and
keywords such as, Employee Retention, selected samples of each department are as
Employee Turnover, Employee Attrition and follows:
Retention, Employees intention to leave
organizations. Research Instrument

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Akhileshsingh Thakur et al/ A REVIEW STUDY ON EMPLOYEE RETENTION STRATEGY IN AUTOMOBILE INDUSTRY

The research instrument or tool used is retention strategy which should cover
Questionnaire. following aspects
1. . Identifying and prioritizing important
Questionnaire designThe questionnaire was key employees who present a current or
prepared for the employees of the Company. future retention risk.
A total of number of questions were included 2. For each key retention group, clarify
in each questionnaire. A well structured reasons for wanting to retain them.
questionnaire was prepared which consist of 3. Making the interviews with
both closed-ended and open-ended employees independently and keeping them
questions. confidential for best results.
4. Using the information that is collected
Closed-ended questions to clear, quantifiable retention goals for each
The closed-ended questions cover the group of employees.
probable causes or factors which might
directly or indirectly increase the rate of Reference
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