Knowledge and Influencing Factors of Employee Retention

Due to the current economic recession, employee retention has become a significant challenge which will require the focus and consideration of many Companies. Some companies intend to improve their profit through reducing cost of employees but keep productivity of employees. Of necessity, this strategy leads to a difficulty in holding onto a talented workforce. Ericsson Company is a leading company in the IT industry worldwide and this company continues to require large numbers of employees with specific skills and knowledge in each department to maintain its competitive position and in order to expand and develop its national business. The main objective of this study is to review the previous literatures and research about employee retention from the perspectives of employee motivation, work-life balance and organisation culture. Moreover, the intention is to explore the extent in which these three issues impact on employees in Ericsson Company and how that Company manages to deal with client retention in these challenging times. This research was collected through the use of qualitative data and also by conducting face-to-face interviews. The dissertation shall primarily focus on the above three factors with a view to discussing how those factors influence and affect employee retention at present in Ericsson Company. Through a review of the interview summaries collected, a clear analysis will emerge regarding the relationship between these three factors and employee retention