A Study on Factors Affecting Employee Retention in Private Sector Banks with Reference to Chennai District

The demands and turbulence in the workplace and business have increased. As a result, there is much more rivalry amongst organizations. The study is regarding the factors of Employee Retention in the Private Banking sector of Chennai district. Employee retention plays a vital role in the development of private banks. In the current scenario, it is the major issue faced by the private banking industry in the Chennai district because of the huge employee turnover. Private banks face more difficulties to retain their employees regarding motivation, training, and development since there are many such banks in metropolitan cities like Chennai. This study focuses on the primary data which is collected through a closed-ended questionnaire with a five-point Likert Scale. The result of the data has been critically examined through data analytical tools. The study mainly examines the relationship between employee retention, employee motivation, employee training, and employee development.