An analysis on employee perspective towards adopted retention factors

The study is about the retention factors in automobile components manufacturing industries in Coimbatore district. Industries to remain successful and competitive, it must keep its biggest assets; its people engaged and committed for the long term. This study examines the perspective of the employee to examine the morale of the employees and to identify the effective retention factors. According to (NLSY) National Longitudinal Survey of Youth, the Automobile Industry has recognized as an industry with a very high potential to increase employment and additional employment of 25 million people is envisaged by the year 2016-17 and by 2022, the Automobile Industry will employ an incremental 35 million people. It also has found that the cost of replacing lost talent is 70 to 200 percent of that employee’s annual salary. There are advertising and recruiting expenses, orientation and training of the new worker, decreased productivity until the new employee is up to speed, and loss of customers who were loyal to the departing worker. In order to create a successful Industry, employers should consider as many options as possible when it comes to retaining employees.