A study on the Impact of Motivation on Employee Retention With special reference Information Technology Industry

Abstract

The purpose behind this study is to identify the impact of Motivation (Career development, leadership styles, work life balance and monitory rewards and non-monitory rewards) on employee retention. The objective of the study is to increase current level of motivation in employees, to establish career development within the organization, to enhance the leadership of both managers and supervisors, to ensure healthy work life balance practices are practiced, ensure positive monitory rewards and non-monitory rewards within the company and to increase the retention rates of the organization. As such mainly the study will focus on the impact of career development, leadership style, work life balance and financial and non-financial rewards as a motivational factor on retaining employees. The study was conducted using quantitative methodology where quantitative approach was used in gathering data for the study. The conceptual framework was developed based on review of literature on past research. The framework illustrates the impact of motivation on employee retention. The study will be focusing on employee retention by being motivated on the aspects of career development, leadership styles, work life balance and monitory rewards and non-monitory rewards. The data gathering was focused on managerial and executive level employees at ABC Private Limited whereas the sample size was limited to 75 from the target population. There were four hypotheses created based on the conceptual framework and the hypothesis were validated using the quantitative analysis. The analysis proved that the independent variables have a positive relationship and impact on the dependent variable. The analysis concluded by rejecting all null hypothesis and accepting all alternative hypothesis of the study. The study will help ABC Private Limited. to understand the impact of motivation (career development, leadership styles, work life balance and monitory rewards and non-monitory rewards) on retaining employees within the company. Through the identification of the factors ABC Private Limited can adapt the suggested recommendations of the study to reduce the level of employee retention.