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Authors
Affiliations
1 Institute of Management Studies, Banaras Hindu University, Varanasi, IN
Source
Invertis Journals of Management, Vol 8, No 1 (2016), Pagination: 1-13
Abstract
India, the fastest growing, most exciting and challenging retail market for the world today is the fifth largest global destination for retail. It is expected to double to US$ 1 trillion by 2020, from US$ 600 billion in 2015. Every industry has its own set of unique characteristics and challenges. In retail, especially on front line we have to deal with unique challenges. Retail is a labour-intensive economic activity mid the front-line employees are the major link between the organisation and the customers. Being one of the largest employers of temporary staff the industry is coping with high rates of attrition and this will continue as more players will enter the market and the employees has a greater choice of employers. The study aimed to examine the different determinants of employee attrition in organised retail sector besides suggesting possible remedial measures for managing and reducing employees' attrition in Indian retail industry. The technique of principal component analysis was used which resulted into the extraction of six factors namely Organisational culture/policies. Salary and reward mechanism, Career growth, Promotional and appraisal policies. Senior subordinate relationship and Safety and security measures. The findings of the study revealed that important aspects such as salary, nature of work, working atmosphere, interpersonal relationships and job security were frequently referred by employees as the key issue influencing their retention in the organization.
Keywords
Employee Attrition, Retention, Retail Sector, Principal Component Analysis (PCA).
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