Comparative Study on Retention Policies of Public and Private Sector Banks &Effect of Motivational Factors on Employee Retention

Employee Retention' is actually a really crucial part of Human Resource Management (HRM), as it's an all-natural building block of a company. Profit as well as goodwill is being produced by the group from the human resources. Workers are the backbone of a company. Hence, the retention of the workers is actually a crucial tool in trying to keep a company on track. Banking industry of India is recognized by a significant competition and it is completely technology based which produce a serious issue to endure on the market place. The banking sectors are actually having to spend substantial quantity of cash for building training tactics as well as programmes in banks, the issue is the fact that as soon as education is actually provided to workers, are they stay in the group for long period? If perhaps not education is meaningless especially in banking sectors. And so, there has to be a highly effective preparation to retain these employees. The main aim of this study sis to discuss the strategies and comparison between public and private sector banks and also determine the effect of motivational factors on employee retention. As a result, current study seeks to concentrate on problem of employee retention in public too private sector banks. Public sector banks are in contrast to the private sector counterparts of theirs on the foundation of the employee retention policies of theirs. Study discovered that public sector banks are unfavourably working with the problem of talent retention and they also do not have any defined employee retention policy where as private sector banks provide prominent value to talent retention and the many HR policies of theirs as well as practices are actually aimed to retain best talent in the organisation of theirs.