Employee satisfaction has been defined as a pleasurable emotional state resulting from the appraisal of one’s job. There are a variety of factors that can influence a person s level of satisfaction. The advent of the knowledge industry has given rise to a new category of employees-knowledge workers. Due to various factors, the average attrition rate in the knowledge industry is increasing alarmingly. Moreover, HR professionals all over the world, working in BPOs and IT, are trying to formulate retention strategies with little success. This book provides the reader with the conceptual framework of employee satisfaction, its significance, factors, perspectives and retention strategies. Satisfied knowledge workers hold the key to organizational success in the present knowledge economy. Job satisfaction helps management reduce absenteeism, labor turnover and stress. Satisfied employees are happy, work better and, therefore, increase productivity of the firm. The book observes the multiple effects of various factors contributing to employee satisfaction. A high attrition rate poses a significant challenge to managers as frequent loss of well-trained or skilled employees is a cause for concern. The book suggests strategies to curb the attrition problem in the knowledge industry. The retention strategies employed by various reputed companies like GE, Global Vantedge, Google, HCL, iGate Global Solutions, Keane India, L&T Infotech, MindTree Consulting, Moser Baer, Patni Computer Systems, Polaris Software Lab, Siemens Information Systems, Tata, Tech Mahindra and Wipro Technologies are discussed to add value to this book.
ABOUT THE AUTHOR G. Jegadeesan
G Jegadeesan holds a Ph.D. in Labour Studies from Madurai Kamaraj University, master's degrees both in Labour Studies and Political Science from Madurai Kamaraj University and a bachelor's degree in Law from Madurai Law College, Madurai Kamaraj University. He also holds a Postgraduate Diploma in Personnel Management and Industrial Relations from Institute of Social Work, Madurai and a Diploma in Labour Laws and Administrative Law from Annamalai University. He has 22 years of administrative experience in Madurai Kamaraj University and 17 years of teaching experience in Directorate of Distance Education, Madurai Kamaraj University. He is presently working as Faculty Member at Icfai Business School Research Centre, Chennai. Prior to joining Icfai, he was Faculty Member in the Department of Labour Studies, Madurai Kamaraj University for 10 years. He has presented many research papers in various national and international conferences. His articles have been published in journals like The Indian Journal of Labour Economics and Journal of Employment Law and Korean Journal of Industrial Relations. He has earlier authored two books, titled "Human Rights, Group Rights and the UN" and "Human Rights and the New World Order", both published by the University of Madras and were prescribed as study material for M.A. Human Rights course in the University. He is passionate about teaching, guiding research, consultancy and conducting management development programs. His areas of interest include human resource management, industrial relations, organizational behavior, training and development, wage and employment administration and research methodology.
ABOUT THE AUTHOR R. Santana Krishnan
R Santana Krishnan holds postgraduate degrees in Economics and Business Management, both from Madras University. He also holds a postgraduate diploma in Market Research and has cleared the Intermediate Exams of the Cost and Works Accountants of India. He is currently working as a Consulting Editor at the Icfai Business School Research Centre, Chennai. Prior to joining Icfai, he worked for Atlantic Blue Consultancies and Services Ltd., for over two decades in various levels including Managing Director and worked for Lanson Motors Toyota Pvt. Ltd. for a brief period. He also regularly contributes articles to Icfai publications. His experience lies in the fields of management consultancy, market research and entrepreneurship and his areas of interest include consumer buying behavior and human behavior.
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