Retaining Talent, Ensuring Growth: An Insightful Review of Employee Retention in the Indian Banking Sector
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Abstract
The banking sector in India has experienced substantial growth, leading to heightened rivalry for skilled professionals. Consequently, talent retention has emerged as a pivotal concern for banks striving to uphold a competitive advantage. This study will contribute to the existing literature on talent management and retention in the Indian banking sector by offering qualitative information regarding the most effective talent retention tactics now employed. This research focuses on analyzing talent retention techniques in the Indian banking sector using a qualitative methodology. This literature analysis seeks to uncover the elements influencing staff retention in India's banking sector. The cumulative outcomes of the findings and the recommendations have thus been made with the holistic intent of upgrading the standard operating procedures for policy formulation drafts covering employee turnover and subsequently addressing the emerging issues and challenges of employee retention for broader sustainable growth. This is secondary research, which reviews various research articles to explore successful talent retention techniques developed for employees of the banking sector and to aid in formulating approaches to retain skilled individuals in this area.