Abstract
Pharmaceutical industry, being highly organised and knowledge oriented, requires individuals who are highly skilled and talented. Loss of one employee may affect the organisation negatively. One of the major problems faced by pharmaceutical sector is that of increasing attrition rate. After Information Technology (IT), pharmaceutical sector is dealing with highest level of attrition. Attrition is understood as the function of demand and supply. There is a huge demand for qualified/skilled employees in the pharmaceutical sector and globalisation has made this demand even grimmer. To survive in this competitive market, organisations have to manage their talent, talent management is now on the horizon. Talent management ensures right person in right job at right time. It is important for organisations to understand that keeping employees happy and engaged leads to competitive advantage for the organisation in global arena. In the present scenario this study has been undertaken to articulate factors related to employee retention in pharmaceutical industry, as this sector has not been studied in relation with talent retention in detail. This study investigates relationship between HR policies, compensation – benefits and work pressure with talent retention in pharmaceutical organisations. Pearsons Correlation is used to find out relationship between variables. The results show that fair compensation, policies which are employee supportive and encourages professional development plays important role in talent retention.
Recommended Citation
Mahajan, Dr. Anuroopa
(2024)
"Research Study on Talent Retention in Pharmaceutical Organisations of India,"
American Journal of Business and Management Research (AJBMR): Vol. 2:
Iss.
1, Article 5.
Available at:
https://research.smartsociety.org/ajbmr/vol2/iss1/5