A study on determinants of employee retention in Private Professional Institutes in Punjab

Attracting, developing and retaining employees with certain channel of qualified faculty members are crucial for success of any private professional institute. The success of educational sector depends on the kind of academicians able to recruit and retain, it is the faculty that sets the tone of private professional institute to move ahead. Today, hiring of faculty has become a major challenge for private professional institutes, yet another challenge is that of a high turnover, since a number of faculty members switch professional institutes frequently. The rapid turnover of these knowledge pool impacts on existing academic plans of private professional institutes in a negative way. This has resulted in a scenario where private professional institutes are vying with each other to attract and retain the best faculty available in the market. Therefore, it is of utmost importance that private professional institutes should frame and formulate such strategies considering factors that can assist to compete well in market to attract and retain for them the best faculty.