Published Paper Details:

Employee retention has been a tedious task in Information Technology (IT) industry since several years. Researchers propose to analyze the retention of Gen Y employees using the variables like Co-worker relationship, Rewards and recognition, Career advancement, Job autonomy and Work-life balance. The target population of the study was employees working with IT firms in Technopark Trivandrum, Kerala. The sample for the study constitutes 250 Generation Y, employees from the select IT firms in Trivandrum, Kerala. Online questionnaire was administered to 250 Gen- Y employees working in Technopark campus Trivandrum. The study analyzed the relationship between Co-worker relationship, Rewards and recognition, Career advancement, Job autonomy, Work-life balance and Employee Retention. The Correlation analysis shows that all the five factors of Retention have a positive significant relationship with employee retention. Analysis based on multiple regression revealed that Rewards and recognition contributes more towards Gen-Y employee retention than other factors with ? value, 0.570 and p<0.01. It is followed by Job autonomy with ? value, 0.487 and p<0.01. The factor that contributed least to employee retention among the five factors considered was Coworker relationship (? = 0.126, p<0.01). The study suggests that organizations need to have a sufficient reward system and every employee must be equally recognized by management for better retention. Job Autonomy must be given to each and every employee so as to help employees get retained in the company for a long run. The study implies that organizations should concentrate more on career counseling facilities, career mentors and career planning. They can also implement more effective career development programs to help employees remain long in the organization. Organizations should ensure that work-life balance practices are in place so that it may in turn leads to retention. This study may also be replicated in other similar organizations to compare the outcomes.