Factors Affecting Employee Retention in Public Sector Banks in Chennai

Human Resource is one among the important valuable possessions for any organization which guides the firm in achieving competitive advantage. Human resources administration is very testing as compared to administrating technology or capital and for its effective working. When employees are dissatisfied with the current employer or the job, they think about other options. The objective of the study is to find the various variables affecting employee retention in public sector banks in Chennai. The findings of the study show that factor which is important for the employees for retention is benefits/compensation followed by relationship with supervisor and working environment. T test results indicate work-life policies, working environment, relationships with supervisor and benefits/compensation are statistically significant. The analysis of variance results indicate that female employees strongly agree to career development opportunity as significant factor compared to their male counterparts and employees with age more than 50 years strongly agree for work-life policies, relationships with supervisor and benefits, whereas employees with age in between 36 to 50 years strongly agree for working environment.