HRM Practices and Employee Retention: A Study on Literature Survey

The retention of human resources has been shown to be momentous to the development and the accomplishment of the organization's goals and objectives. Organizations need to have the ability to recruit and retain appropriate knowledge workers in order to create an inflow of knowledge and skills to develop and maintain their competitiveness. As economic globalization has become more pronounced, the ability of organizations to compete in the global marketplace is all the more tied to the quality of their human resources. Many organizations rely on the expertise of their employees to gain competitive advantage in global economies. In this economic environment, the retention of valuable employees becomes an extremely important strategy for human resources managers and organizational leaders. This paper mainly deals with the literature on Human Resource Management practices and its impact on Employee Retention. The purpose of this paper is to identify the relationship between HRM practices and employee retention through the literature survey.