ISSN 2320-5407 International Journal of Advanced Research (2015), Volume 3, Issue 11, 66 – 77 66 Journal homepage: http://www.journalijar.com INTERNATIONAL JOURNAL OF ADVANCED RESEARCH RESEARCH ARTICLE “Employee Retention: An issue of every Business Sector” Ms. Poonam Likhitkar 1 , Dr.Priyanka Verma 2 1. Research Scholar, Department Of Management Studies Maulana Azad National Institute of technology (NIT) Bhopal (M.P) 2. Assistant Professor Department Of Management Studies Maulana Azad National Institute of technology (NIT) Bhopal (M.P) Manuscript Info Abstract Manuscript History: Received: 14 September 2015 Final Accepted: 22 October 2015 Published Online: November 2015 Key words: Attrition; Customer retention; Career development; Employee retention; Employee satisfaction. *Corresponding Author Ms. Poonam Likhitkar Retaining the key employees (assets) has always been a matter of concern for organizations which deals into any of the sector such as retail, IT, education, Construction, Leather etc, as the success & failure depends on the employees of the organization. Today HR Managers are facing a pivotal challenge pertaining to their employee’s turnover rate which could be reduce by applying necessary strategies which restrict them to stay in the organization. The purpose of the study is to examine the various factors affecting employee retention in different sectors of business along with identifying competitive strategy and human resource management practice to retain competent employee. This review paper reveals that factors such as supervisory support & employee commitment, compensation packages, Job satisfaction, Attractive rewards and recognition, annual performance appraisal and training opportunities, career propagation chances, organizational culture, motivation, development and challenging work environment have direct/ indirect impact on employee retention. The paper also compiled with a theoretical framework of employee retention based on relevant literature. Copy Right, IJAR, 2015,. pAll rights reserved INTRODUCTION The Retention practices follow by the companies underlying a step towards retaining the employees working in the organization by providing necessary benefits in both the forms, i.e. Monetary & non-monetary. The former Chairman and CEO of General Electric, Jack Welch says that - ―The best companies now know, without a doubt, where productivity—real and Limitless productivity—comes from. It comes from challenged, empowered, excited, rewarded teams of people. It comes from engaging every single mind in the organization, making everyone part of the action, and allowing everyone to have a voice—a role—in the success of the enterprise. Doing so raises productivity not incrementally, but by Multiples.‖ Employee retention is emerging as the most important & challenging employee management of the upcoming future. Literature Review (Meta Analysis) Year References Title Study Aims & Objectives Research design Sample Data collection methods Findings