Employee Empowerment and Retention Strategies in Diverse Corporate Culture: A Prognostic Study

Abstract

The recent times have evinced a very high degree of diversity and uncertainty in the business environment. Workplace of today witnesses the co-existence of employees from the various socio-cultural backgrounds making the corporate culture a complete diverse one. The progressive companies of today look for diverse workforce who can bring and help in managing diverse talents, interests, and viewpoints and that too in the continuously changing business environment. This diverse corporate culture has further affected the employment relations by not keeping it confined to traditional issues, rather concerns like empowerment, effectiveness, retention, development, managing cross-cultural diversity, management of gender issues, organisational learning, change management, etc. have emerged as contemporary challenges leading to new paradigms in corporate culture. The present paper attempts to address the specific contemporary challenges of employees' retention and empowerment in the light of organisational changes taking place. This paper brings to light the fact that Indian organizations are finding it difficult to retain the talent and are resorting to newer strategies of empowerment to retain the best talent.