An Empirical Analysis of Employee Turnover, Retention Strategies, and Their Financial and Economic Implications in the Rapidly Growing Information Technology Sector of Kolkata

Abstract

The paper examines the role played by ethical leaders, employee experience, organisational culture and practice within organisations in ensuring employee retention and organisational performance. Career development prospect, pay and benefits, leadership performance, workplace, and training are the variables that are the focus of the study. Of the 200 respondents, quantitative data was recorded and studies were done using the descriptive statistics, Bayesian correlation and Bayesian ANOVA techniques. The mean of moderate employee satisfaction was observed in the statistical analysis: work-life balance (M = 3.10, SD = 1.407), organisational profits (M = 3.03, SD = 1.405) and employee retention intentions (M = 3.08, SD = 1.490). The outcome of the Bayesian correlation test, was significant, albeit weak, positive correlations between career growth and leadership motivation (Posterior Mean = 0.038) and career growth and training opportunities (Posterior Mean = 0.033). The Bayesian ANOVA results also indicated that there were differences in the employee perceptions with regards to training and career development opportunities in various organisations. It concludes that ethical leadership, employee recognition, favourable working environment and training programmes are highly significant in employee retention and organisational sustainability