Factors Affecting Employee's Retention in Automobile Service Workshops of Assam An Empirical Study.

Book excerpt: An organization’s ability to attract and retain talent is an essential component of talent sustainability. When organizations experience employee turnover, organizational knowledge is lost (Cotton & Tuttle, 1986; Lowe & Barnes, 2002). Employee retention affects an organization’s overall performance. In the coming years, organizations including the federal government will experience an increase in attrition due in part to retirements. Annually, organizations spend billions of dollars replacing the talented employees who have left their employ (Mathis, 2006a). In addition, organizations will need to replace employees that are eligible to retire. Baby boomers are defined as people born between 1945 and the early 1960’s (Business Dictionary, 2013). The retirement of baby boomers will decrease the supply of talent in the next five years. As the need for talent increases, the acquisition of talent becomes more competitive as organization pull from the same pool of candidates.