Determinants of employee engagement and retention practices in Indian corporate- Principal component analysis

Three years after the buble burst, an engaged employee alone do perform beyond the basic job responsibility and is associated with the actions that drive the business. Moreover, in times of diminishing loyalty, particularly during the period of recession, employee engagement can be considered as a powerful retention strategy to retain the knowledge bank in the organization. It is the fact that employee engagement goes beyond the traditional notion of employee satisfaction. It relies on a composite measure of satisfaction, commitment, pride, products and services advocacy and employee advocacy. When employees are effectively and positively engaged with their organization, they form an emotional connection with the company. This affects their attitude towards both their colleagues and the company's clients and improves customer satisfaction and service levels. Sothat this research made a maiden attemt to identify determinants of employee retention practices and how they are engaged? The data was analyzed using the statistical package SPSS 17.0. Descriptive statistics, Factor analysis and reliability estimates were used for the findings. Relationship with superiors, Job Satisfaction and growth prospects, Recognition and benefits, good working environment and, Family friendliness are some of the key factors identified using factor analysis as the major contibutors of employee engagement.