A STUDY ON THE INNOVATIVE TRENDS IN EMPLOYEE RETENTION WITH SPECIAL REFERENCE TO AVIATION INDUSTRY IN INDIA

Employee retention involves the effective management of organization through retaining eminent work force thereby considered to be the mastery of managing resources. Every organization invests its time and money to groom newly recruited and developing them to be an efficient employee. Losing a trained employee is a great loss for any organization.Employee retention is an art of using various unique techniques to influence an employee to stay in an organization for the longer duration of his service. Hertz Berg’s and Maslow’s in their theory have quoted about factors influencing for individual growth and development. Aviation business is facing a serious problem of high attrition since long due to the shortage of technical, non-technical and other skilled professionals. The retention strategies in business help in reducing employee turnover, recruitment and training cost. It also preserves talent and organizational knowledge. The businesses have inculcated trending tools of competitive salary, fringe benefits, skilled hiring, work life balance, career development, friendly work culture, employee engagement, branding, bonding, open communication, work from home, flexible working, fancy designation to demark employee retention. Innovative strategies for employee retention in aviation sector are the need of the day. This paper highlights upon various modern tools and strategies on employee retention with special reference to aviation industry emphasizing on out of the box benefits to its employees