Abstract:
In today’s volatile and competitive business climate, employee poaching and change have become common phenomena for organizations and for employees. Several studies in the past have conversed upon the significance of retention for organizational success. However with a mismatched orientation, organizations have been traditionally following the industry standard practices, ignoring employees’ expectations and satisfaction level from such retention policies and practices. At the same time it is unjustified to claim and preach that expectations regarding retention policies and practices are uniform across organizations in various sectors and for employees across different managerial levels. With tools and techniques like HR Audit providing opportunities for focused and in-depth empirical analysis on critical HR functions, it has become possible for organizations and HR managers to develop their own set of customized audit or mini-audit questionnaire or tool for data collection and analysing them using various analytical methods for a better understanding about the actual scenario and expectations of their employees. The current study attempts for a comparative analysis of employee’s satisfaction and expectation level with the retention policies and practices and assessing the impact of formal HR Audit on the same across sectors and managerial levels.