Factors Influencing Employee Retention in the it Sector: A Comprehensive Review of Recognition, Compensation, Work Environment, and Job Autonomy
DOI:
https://doi.org/10.54392/ajir2524Keywords:
Employee Retention, IT Industry, Job Autonomy, Reward Strategies, Remote & Hybrid WorkAbstract
Retention of employees is especially challenging in the aggressively competitive IT industry, and organizational success is heavily influenced by this factor. This thorough exploration considers the several factors that influence retention of employees, focusing on aspects like appreciation, remuneration, workplace, and independence at work. Drawing on theories such as the Job Characteristics Model, Self-Determination Theory, and Herzberg's Two-Factor Theory, the study incorporates findings from earlier research and common industry practice to give responses to what really matters. The review considers how non-monetary rewards, financial incentives, company culture, flexibility, and employees' control over their work influence them remaining with an organization. It also calls into question how the new work patterns of remote and hybrid working impact businesses, and how HR analytics, facilitated by AI, can shape retention practices. By pointing out current issues, setting out examples of best practice, and exploring future research areas, this report aims to provide actionable advice for business leaders and HR practitioners. The aim is to allow them to maintain a stable and loyal workforce within the IT sector, especially amidst ongoing talent shortages and changing employee expectations. The study recognizes the need for a balanced and responsive retention strategy, emphasizing job autonomy as a significant factor for employee satisfaction and commitment. In addition, strategic application of reward schemes, competitive pay levels, and benevolent working environments has a critical role to play.
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