The Impact of Training and Development on Employee Retention at Cool Planet (PVT) Limited

Abstract

Human Resource is a major asset which is used to gain competitive advantage in many organizations. Therefore, it is vital to retain the employees and take necessary actions to improve employee Training and Development. However, Employee Retention can be significantly hampered by less Training and Development in the work environment. Therefore, the study analyses the Impact of Training and Development on Employee Retention at Cool Planet (PVT) Limited. The main objectives of the study are identifying the major factors having an influence to Training and Development to find out the relationship between attributes of Training and Development and Employee Retention and to identify suitable recommendations for maziming Training and Development for Employee Retention. Main contributors of Training and Development: Training Analysis, Skill Analysis, Job Rotation/Task and Career Planning were analyzed in this study. The literature review clearly identifies the above factors with the views of previous academics and based on previous literature and preliminary investigation at Cool Planet (PVT) Limited, the list of hypothesis was developed. Likewise, the mix methodology has been used for the purpose of this study. The population of the study was employees in Cool Planet (PVT) Limited and from the identified target population of 101; a sample of 80 was selected under stratified random sampling method. A structured questionnaire was designed, pre-tested and used to collect data from the selected sample whilst secondary data was collected through reliable websites, company report and journal articles. The research findings revealed that all the components tested as per developed hypothesis showed that there is a positive relationship between Training and Development and Employee Retention.