Workplace Happiness as a Driver of Employee Retention: Evidencefrom the Organised Retail Sector in West Bengal, India
DOI:
https://doi.org/10.66635/v3v55v02Keywords:
employee retention, employee happiness, competitive edge, competitive workforce, employee turnoverAbstract
Workplace happiness is very important for employee retention as an important predictor of long-term work satisfaction and commitment in an organization. In this age of competitive job market, where it is challenging to attract skilled workforce and time-consuming, companies should retain their existing employees. By knowing the reasons of employee turnover and adopting effective strategies for employee retention, organizations can come up with a win-win situation to foster productivity and loyalty. Retaining talented and important workforce is a major challenge that organizations face in a highly competitive workforce of India. There is nothing more important than employee retention. There has been a rise in its significance in modern landscape. The costs related to employee turnover like hiring and loss of productivity, along with tough competition for skilled workforce, make employee retention very important. This study investigates the role of employee happiness in their retention and factors contributing to employee happiness and retention. This study highlights the relation between employee happiness and retention, given that happy employees lead to employee retention in a company. This study discusses the importance of giving priority to employees’ happiness and well-being to address the problem of holding valuable talent. Increasing employee happiness is a sustainable retention strategy and also a strategy to achieve competitive edge in the organization. This study investigates the factors in the study to enable organizations of India to improve workplace happiness, employee retention, and gain competitive strength.
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