Employee Retention Strategies for Sustainable Development in Dynamic Environment of Higher Educational Institutions in Bangalore

Higher Educational Institutions encounter a growing challenge in the context of a rapidly changing higher education ecosystem such as faculty turnover brought on by increased competition, legislative changes, technology improvements and shifting employee expectations. Therefore, it is now strategically necessary to retain employees in order to maintain academic quality, institutional viability and sustainable development. Retaining competent educators has become essential in today's higher education institutions because high staff turnover increases recruitment costs, decreases organizational knowledge and impairs efficiency. The relationship between employer and employee responses towards reason for leaving higher educational institutions functioning in a dynamic organizational setting is investigated in this study.  The study has selected 350 employees in higher educational institutions as a sample. The data was analyzed using descriptive statistics and Contingency Coefficient analysis to find out the significant relationship among employer and employee perception towards employee retention strategies in workplace. The findings of the study revealed that there is a significant relationship between employee and employer perception towards retention factors such as insufficient opportunities for professional growth, inadequate appraisal system, Dissatisfaction at work, Lack of team collaboration and Unfavourable working relationships between employers and employees. Thus, higher educational institutions should have improved employee morale which leads to higher retention rates within the organization. As a result, maintaining academic quality, institutional continuity, and sustainable development now depend on employee retention. The study suggested that higher educational institutions must prioritize employee engagement foremost and establish a nurturing workplace that encourages professional growth in order to overcome these obstacles. Hence, higher educational institutions might increase retention rates and eventually boost overall performance of institutions by investing their employees.