Employee Retention Strategies For Sustainable Development In Dynamic Environment Of Higher Educational Institutions In Bangalore

Abstract

Employee retention is emerging to be an important factor for long-term stability and a competitive edge in an increasingly challenging and dynamic workplace. Retention of faculty members has become an essential strategic objective for attaining sustained development in higher educational institutions. High personnel turnover has a detrimental impact on sustainability, intellectual consistency and organizational efficiency. Employee retention has become a strategic focus for higher educational institutions grappling with increased workforce turnover and greater competition. The study investigates the key factors influencing employee retention in higher educational institutions. The research selected 350 respondents as a sample size using stratified random sampling method. The data has been collected through the structured questionnaire and analyzed through statistical techniques such as cronbach’s alpha coefficient, factor analysis and multiple regression analysis. The finding of the study reveals that there is a significant relationship between the factors influencing employee retention, such as compensation and benefits, professional growth and development, working condition and job stability. In the meanwhile, management leadership and support factor is not significant with sustainable development of higher educational institutions. Hence, the results of the study suggest that in order to improve employee retention the higher educational institutions have to give a top priority to improve the employee benefits and encouraging professional growth opportunities. Therefore, the higher educational institutions have to develop a dedicated and committed workforce through addressing these important areas which will eventually help them to succeed in the long run.