A multidimensional exploration of employee retention strategies: Empirical evidence from Indian finance companies

Abstract

This descriptive study investigates the impact of employee retention strategies on employee satisfaction in Indian finance companies. Using primary data collected through a survey from 50 employees of Muthoot Bank, a leading private finance company in India, located in Jigani, Bangalore, this research examines the relationship between various retention strategies and employee satisfaction. The study employs a research model that considers factors such as employee engagement, compensation and rewards, retirement benefits, career growth opportunities, employee opinion value, work-life balance, working conditions, and team building as key determinants of employee retention. Data analysis using SPSS software provides valuable insights into the relative importance of each factor in influencing employee satisfaction and, consequently, employee retention within the Indian finance sector.