INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume

me 3, Issue 2, May-August (2012)

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EMPLOYEE RETENTION STRATEGY IS THE WAY OF VICTORY IN THE MODERN IT INDUSTRY FOR WOMEN - A STUDY
1 1

Saranya R and 2Muthumani S

Research scholar, Sathyabama University, Chennai. 2 Research Guide, Sathyabama University, Chennai Mail-id:saranyajagadeeswaran@gmail.com

ABSTRACT Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If people are not satisfied with their job, they may switch over to some other more suitable job. In todays environment it becomes very important for organizations to retain their employees. This paper aims to study the retention strategy which will show the way to victory in the modern era of IT industry. Keywords: Retention, switchover, domestic market, global market

IT INDUSTRY In the present scenario most of the countries over the world have relied upon India software consulting company and firms or Software Companies for the software development activities, as the country possesses a global competency in the IT sector. The IT and Software industry is a major economy player in India. Services regarding software such as training, consulting, and maintenance are a part of this ever growing industry. IT offers lucrative job opportunities making it a premium career option for the youth. In fact it is one of the fastest growing sectors of Indian industry.India is emerging as a Global IT superpower. The success can be attributed to factor advantage of high 192

International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 3, Issue 2, May-August (2012)

quality of software human resources. The software Industry has succeeded in converting this comparative advantage to increasing exports. More and more companies are receiving the ISO 9000 certification and the day is not far when India will have the highest number of ISO 9000 compnaines in the world. The IT and Software industry is a major economy player in India. Mainly based on IT software and facilities such as system integration, software experiments, custom application development and maintenance (CADM), Network and IT services and solutions; the countrys IT-BPO industry expanded by 12% during fiscal year 2009, and attained aggregate returns of US$71.6 Billion. Out of the derived revenue, US$59.6 billion was directly generated by the software and services sector alone. Software exports from India have increased and account for about 60% of Indias total software revenue. More than 80% of software exports earnings are generated by services like custom software development and consultancy services. About 40% of the domestic software market is made of products. One problem that software companies in India are facing is that of outflow of IT professionals. This can be looked into by ensuring the conditions for investment and growth in the industry are safeguarded by political stability.

RESEARCH METHODOLOGY The study was made in descriptive research design. The study was carried out with the objectives of finding out the importance of women employees retention and their opinion.The method of distributing a Questionnaire to the employees was carried out, on the bases of primary data. The universe of the study comprises of about employees in different IT companies of Chennai city. 150 samples were distributed and 109 samples were collected and out of those 100 samples were useful for my study. To extract meaningful information from data collected, analysis of data and interpretation was carried out by using statistical tools. Here the sampling technique adopted is nonprobability sampling. The sample design used here is convenience sampling.

ANALYSIS AND INTERPRETATIONS TABLE 1: MARITAL STATUS OF WOMEN EMPLOYEES S.No 1 2 Marital status Single Married No. of respondents 68 32 Percentage 68% 32%

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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 3, Issue 2, May-August (2012)

Interpretation: The table clearly shows that most number of the employees is unmarried in the organization. 68% of the employees are unmarried whereas 32% are married. TABLE 2: WORKING EXPERIENCE OF WOMEN EMPLOYEES S.No 1 2 3 Interpretation: As it is clear from the table, most number of respondents worked for period ranging from 2 years to 5 years. The respondents in this category were 46. 16 employees have been working for more than 5 years and 38 employees have been working for less than 2 years. TABLE 3: THE RESPONDENTS OPINION OF THE ISSUE RELATING TO THE IMPORTANCE OF RETENTION OF WOMEN EMPLOYEES IS CONSIDERED Experience range Less than 2 years 2 years 5 years 5 years and above No. of respondents 38 46 16 Percentage 38% 46% 16%

S.No

Retention of women employees is considered Yes No

No. of respondents

Percentage

1 2

72 28

72% 28%

Interpretation: The above table shows how important the respondents thought the issue of women employee retention was. Respondent who felt that retention of women employees was important issues were 72 in number. However, 28 of them felt that it was not an important issue.

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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 3, Issue 2, May-August (2012)

TABLE 4: THE OPINION OF RESPONDENTS ABOUT THE LEVEL OF STRESS ON WORKING WOMEN AND NON WORKING WOMEN S.No Working women Facing stress > Non-working women Yes Stress is equal No No. of respondents 48 40 12 Percentage

1 2 3

48% 40% 12%

Interpretation: From the above table it can be understood that most women feel that working women are under more stress than non-working women. 48 respondents felt that working women have more stress than non-working women. 40 respondents are of the view that the stress is equal on working and non-working women. However, 12 respondents are of the opinion that working women do not face greater stress than non-working women. CORRELATION Ho: There is no significant difference between the existing organizational culture and the role played in the retention on Women employees. H1: There is a significant difference between the existing organizational culture and the role played in the retention on Women employees. Organizational cultures role in retention of employees 1.000 View about the organizational culture .702

Organizational cultures role in retention of employees

Pearson Correlation

View about the organizational culture

Sig. (1- tailed) N Pearson Correlation

. 100 .702

.000 100 1.000

Sig. (1- tailed) N

.000 100

. 100

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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 3, Issue 2, May-August (2012)

**Correlation is significant at the 0.01 level (1-tailed). Interpretation: The Sig value .000 is less than .05, therefore H0 is Rejected. Therefore, there is a significant difference between the existing organizational culture and it plays a major role in the retention of Women employees. RECOMMENDATIONS 1) The Company should arrange a monthly meet where the women employees can share their problems and issues to the management. 2) The company can organize counseling programme where the women employees eliminate their stress and boredom 3) The company can have a place on weekends where the children of women employees can spend their time. Otherwise, it becomes difficult for the women employees to leave their small children at home and attend office on weekends. 4) The Company should enrich their women employees by providing optimum trainings regularly. 5) The company should provide Crche facility for women employees so that they can work peacefully. CONCLUSION This study was valued by the majority of the participant (Women) from IT industry as an awareness raising process by providing, the opportunity to conduct an informal audit of their current gender diversity policies and practices. Further, it provided a platform to share information and resources, offering possible pathways and a wide range of accompanying strategies for increasing gender diversity in individual companies and as such in the sector. Research demonstrates that successful diversity management involves holistic and planned change, supported by management and actively involving women employees. And finally, the Positive Practice Principles and their accompanying key indicators and strategies provide a comprehensive checklist for those companies who currently have well structured programs to continue their development. Through this study, proudly we say that employee retention strategy is the way of victory in the modern IT Industry for women .

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International Journal of Management (IJM), ISSN 0976 6502(Print), ISSN 0976 6510(Online), Volume 3, Issue 2, May-August (2012)

BIBLIOGRAPHY 1. Bates, S. (2006). Many employees itching to leave, new survey reveals. Retrieved from Society for Human Resource Management Website: www.shrm.org 2. Branham, L. (2005). The seven hidden reasons employees leave. New York: American Management Association. 3. Clowney, C. (2005, October) Best practices in recruiting and retaining a diverse faculty. Clowney and Associates: Web Conference. 4. Employee retention toolkit. Retrieved December 20, 2005, from Society for Human Resource Management Website: www.shrm.org 5. Falcone, P. (2006). Preserving restless top performers. HR Magazine, 51(3), pp. 117-122 6. Glube, N. (1998, January, reviewed 2002, October) Retention tools for turbulent times. Retrieved on May, 31, 2005, from Society for Human Resource Management Website: www.shrm.org 7. Lockwood, N. R. (2004). The three secrets of retention: Respect, rewards and recognition. Research Translations, 12-2004, Retrieved May 31, 2005, from Society for Human Resource Management Website: www.shrm.org 8. McConnell, T. (2004, September). Retention strategies for IT professionals not a problem? Think again. Retrieved from Society for Human Resource Management Website: www.shrm.org 9. Monster, Inc. (2006, Winter). Retention strategies for 2006 and beyond.

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