ISSN: (Online) 2321 -4155
ISSN: (Print) 2320 -7000

JOURNAL OF INDIAN RESEARCH
VOLUME : 2, ISSUE : 1, January-March, 2014 (ISSN No. : 2321-4155)
 
NEW KEY TO EMPLOYEE RETENTION-INTRINSIC MOTIVATION: A STUDY OF PRIVATE BANKING SECTOR OF INDIA
Stuti Priyadarshni Nijhawan & Dhruv Priyadarshni Nijhawan
 
ABSTRACT
During the last few years, the private banking sector in India has seen tremendous growth and now is one of the important revenue generators in service sector. But with it the cases for employee dissent and dissatisfaction have witnessed a surge too at private banks in India. Despite providing hefty pay packages and comfortable working environment, the private banking sector is not able to withhold employees. The failures of employer-employee relations give rise to alarming attrition rates. Employee Retention is now the biggest challenge in front of private sector banks. The importance of humility at a leadership level cannot be overlooked as the aftermath of such a situation can result in an employee crisis. The purpose of this research paper is to understand the nature of intrinsic motivation which is now used at large to retain employees and to cut down the fast pace of employee turnover. For the purpose of this study, the technique of primary research has been used with a structured questionnaire and survey method. A sample set of 138 respondents from different hierarchy levels of private banks is used to understand the relative importance of intrinsic motivation for job satisfaction and employee retention.
 
KEYWORD
Attrition Rates, Employee Retention, Motivation, private sector banks.
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