Organization Culture:A Strategic Tool To Retain Talent (The Case Of Indian Banking Industry)

Employee retention is a critical component in managing human resource flow. In this era of unpredictable market and organizational changes, organizations must create an environment where today's top talent can thrive. Individuals once being trained have a tendency to move to other organisations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. Whenever a talented employee expresses his willingness to move on, it becomes the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision. The retention of human resources has been shown to be momentous to the development and the accomplishment of the organization's goals and objectives.

Using a sample of 250 bank professionals this study attempts to explore the main factors and also the retention approaches that may be used to keep the employees in private sector banks. 250 surveys distributed to bank workforce and the survey questions were designed to determine major factors specially organization culture and benefits responsible for retention and Present Retention Strategies.

The result of the study shows that the culture in private banks is based on openness and trust, effective communication and good deal of time spent by supervisor listening to employees' ideas and suggestions.