Abstract
Talent retention is avoiding the loss of talented employees. Retention is enhanced when organizations embrace certain proactive talent management practices, including employee engagement, empowerment, career development opportunities, competitive compensation and benefits, among others. Retention prospects are also enhanced when employers maintain a positive brand or reputation in the labor market. Talent retention strategies help organizations sustain and grow, avoiding wasteful expenses triggered by the loss of talent. This article examines talent retention strategies of two century-old Indian organizations, focusing on their compensation and benefits programs.
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