Factors Impact on Effective Strategic Planning In IT/ITES for Women Employee Retention

INTRODUCTION

In this competitive scenario, employees are the intellectual assets and any organization cannot afford losing its assets. Andrew Carnegie, 19th century industrialist, who is known for having built most powerful corporations in US commented as ―Take away my factories, plants, ships, transportation and my money but leave me my key people, within two or three years, I will have them all again‖. This comment shows that the importance of retaining the key employees. Management includes planning, organizing, staffing, leading or directing, and controlling an organization or effort for the purpose of achieving aim. Resourcing includes changing the position of human resources, financial resources, natural resources and technological resources. Since organizations can be seen as systems, management can also be defined as human action, including design, to facilitate the production of beneficial results from a system. This perspective opens the opportunity to manage itself, a prerequisite to efforts to manage others. Due the limitation of resources, to achieve the goals of companies strategy is very important. Strategy is all about to reach and keep a position of advantage over competitors by successive operation of known or emergent possibilities rather than committing to any specific fixed plan designed in the beginning. Retention management in today‘s world requires a completely new approach that should be most flexible rather than rigid. A globally present and managed firm, the HR manager of such a firm will have to constantly monitor the best talent available in the firm at different work places. He will have to consider the changing needs of his talented resources so as to provide those appropriate opportunities. This requires thinking ahead of time and considering career development path of the concerned talent. The most talked about methods of retention include employee delight at an appropriate stage of his career. The most successful organization has already surmounted these challenges in respect of retention. Nevertheless, the quality of work life of women professionals continues t be deplorable. In this backdrop whether quality of women professionals in IT companies in India sailing or facing jagged climate is a trouble merit pursuing.

Mobley (1977) proposed that if a worker is able to identify job alternatives the individual will subsequently compare the various options. The Hom and Griffeth (1991) results support this idea and comparative alternatives. Perceived alternatives refer to the perceived favourableness of different jobs and ease with which alternate employment can be obtained (Chen, Hue, & Seigo 1998). Several preeminent of models of turnover indicate that job opportunities influence job turnover behavior. Including model developed by March and Simon (1958) Price (1977) and Mobley, Horner and Hollingworth 1978. Quit decisions are more likely when individuals perceive that they could obtain a different job that would provide them higher levels of job satisfaction (Hulin, Roznowski, &Hachiya, 1985). Thus, perceptions about the availability of jobs will directly influence beliefs about the expected utility of conducting a job search prcess (Hom & Griffith, 1995).

A strategic plan is a set of processes undertaken in order to develop a range of strategies that will contribute to achieving the organizational direction (Tapinos et al...2005). Therefore, this clearly indicates that companies have to arise to the occasion that they have to develop strategies that will drive the organization in achieving the set goals and objectives as per the vision and mission of the organization. By doing so organization will have to formulate strategies that will guide to the direction and the future of where they want to be as an organization. All organizations have a dream to achieve and in doing so they have to have strategies that will propel them to the destination. Strategies can be formulated in three levels that is: corporate, business, and functional level. At corporate level strategies are formulated by the top management or the board of directors (Yabs, 2010). At business level strategies are formulated by middle level managers for example, marketing managers, human resources, production managers, logistics managers among others (Yabs, 2010). Strategy formulation at functional level is done by first line managers or supervisors (Sababu, 2007). Strategic planning is a process that is determined objectives and Policy of the activities and mission of the organization by using it at long run. Strategic planning helps managers in order to recognize the priorities and determine the main actions which it is necessary for the organizations to achieve their objectives. From the past research, it is identified that several factors would influence the employee retention across the industries. In this paper, the focus is on perceived and comparative alternatives which would influence more on the IT professionals. After pilot study the perceived and comparative alternatives have been studied with the factors like., tenure of

There are pertinent studies on retention how companies should retain their current manpower. Some excerpts are as follows: March & Simon‘s (1958) the relationship between alternatives and turnover on an individual level has been researched ―on ease of movement‖ and focused on the link between job satisfaction, perceived alternative opportunities and turnover. Later, researchers began to focus on the role of both actual and perceived opportunities in explaining individual turnover decisions. Mobley et al (1979) found that over time there have been a number of factors that appear to be consistently linked to turnover. An early review article of studies on turnover by revealed that age, tenure, overall satisfaction, job content, intentions to remain on the job, and commitment were all negatively related to turnover (i.e. the higher the variable, the lower the turnover). Boxall, Macky and Rasmussen (2003) have conducted a study of retention variables for New Zealand employees in which they state that the variables are multidimensional. Lockwood and Anari (1997) concluded the following factors as crucial retention strategies for IT professionals in the USA and U.K. In order of their importance, the study revealed money (base salary plus bonus and stock options); the chance to learn new skills (i.e. those that the market values); the reputation of the organization in technology; and working conditions (e.g. physical, colleagues & boss, casual dress) as some of the important factors. Among retention strategies that were particularly successful in maintaining a low turnover rate, one of the solutions suggested was an increase in salary. Samuel and Chipunza (2009), the main purpose of retention is to prevent the loss of competent employees from leaving the organisation as this could have adverse effect on productivity and profitability. However, retention practices have become a daunting and highly challenging task for managers and Human Resources (HR) practitioners in a hostile economic environment. One of the traditional ways of managing employee retention and turnover is through organisational reward system. William and Werther (1996) explain reward as what employees receive in exchange for their contributions to the organisation. This reward could come in form of salary, promotion, bonuses and other incentives. When the reward system is effectively managed, it helps in achieving

In today‘s world, most of management teams or managers of organization, profit and non-profit organizations spend considerable time, energy and money for formulating and assigning basic strategies of their organizations. However the biggest problem is the implementation of the strategies that are able to elaborate clearly the company‘s vision but the employees have a different perception of that, this may have negative effective in achieving company‘s objective that are derived from the vision. This means that the management must be prepared to ensure that all the employees in the organization understand the importance of strategic plan.

The purpose of the study was to explore the factors which affect the strategic planning and enhance the success of organizations. The performance of organizations has been the focus of intensive research efforts in recent times. How well an organization implements its policies and programs and accomplishes its strategic intent in terms of its mission and vision to retain the women employee. From the foregoing, and looking at today‘s trend, it is evident that the space of change in our business environment presents fresh challenges daily.

1. To Study perceived alternatives and their influence on retention of IT women professionals. 2. To study comparative alternatives and their influence on retention of IT women professionals. 3. Investigate how organization structure affects the strategic planning in an organization. 4. To provide suggestions and recommendations to retain IT women professionals.

1. (H1) Tenure of employment of IT women professionals would influence retention. 2. (H2) Intentions of employee of IT women professionals would influence retention. 3. (H3) Job commitment of IT women professionals would influence retention. professionals would influence retention. 5. (H5) Employee recognition of IT women professionals would influence retention. 6. (H6) Feelings of obligation of IT women professionals would influence retention.

320 employees are selected from 2 MNCs, 60% of who are in the age group of 26-35 years and out of the total sample 56% are male and 44% of respondents have an annual income above Rs 100000. Respondents opinion was sought regarding the workload given by the company 51% respondents opine that the perceived factors like., tenure of employment, intentions of the IT women professionals and Job commitment influence IT women professionals to stay with the organizations for longer period. From the research it is identified that Job commitment does not have strong relationship between this factors. As far as comparative alternatives in IT women professionals concern, Impulsive behaviour, employee recognition, and feelings of obligations studied for greater understanding of retention factors. All the comparative alternative factors shown high impact on retention of IT women professionals.

In this paper, perceived and comparative alternatives have been studied with the factors like., tenure of employment, intentions of employee, job commitment, impulsive behavior, employee recognition and feelings of obligation. Amongst factors except factor of job commitment remaining all factors shown that positive relationship with IT women professionals retention. As far as tenure of employment of the IT women professionals concern, there is no such importance given towards the IT women professionals. members. An important aspect that determines employees‘ performance at work is their organizational tenure (i.e., the time that an individual has spent in an organization) because generally display higher levels of performance as they gain organizational tenure (Mc Daniel, Schmidt and Hunter 1988). Mobley et al (1979) pointed out, at an aggregate level the relationship between economic factors such as employment levels or job vacancies and turnover has been well established. Further, intentions and turnover is consistent and generally stronger than the satisfaction-turnover relationship, at an individual level, the labour market approach emphasizes expected utility and rational economic choice among employees and the perceived availability of alternative job opportunities. The factor of tenure of employment highly regarded as it got relationship with retention and plays vital role in retention of the IT women professionals. Further, intentions of IT women professionals are completely external image of the organization. When employee perceives the outsiders viewed their organization positively, the IT women professionals‘ identification with the organization is increased. The respondents opined very positively about their intentions to stay with their organizations. Hence, the image of the organization influences the intentions of the employees to stay in the organizations which influence the retention of the IT women professionals. IT women professionals both in organizations opined that Image of the organization would influence their intentions to stay. Hence, it is recommended that both organizations should strive to keep their image in the competitive arena. Impulsive behaviour is one of the dangerous parameter when it creates impulsive actions. IT women professionals opined that impulsive behaviour linked with retention. Hence, it is suggested that premeditative activities could be developed in both organizations to control the attrition of the IT women professionals. Employee recognition can be given in many ways. Many studies on the work place have shown that being recognized for achievements. It has considerable impact on employee satisfaction. From the analysis it is found that the factor ―employee recognition‖ possesses significant employee relationship with IT women professional‘s retention. Improving recognition process is essential and should be viable benefits and acknowledgements. Employee feelings of obligations refer the normative commitment and loyalty to the organization. Positive feelings make the employees to retain longer period in the organizations. There is a positive relationship between the factors feelings of obligation and retention of the IT women professionals. Hence, it is recommended that similar feelings of obligation may create more relationship in between job commitment and retention of the IT women professionals. Hence, no comment offered in this aspect.

CONCLUSION:

This paper has thrown some inputs on how IT women organizations in India are influenced by perceived and alternative factors would influence in retention of IT women professionals. This study attempted to by examining the various factors like tenure of employment, intentions of employee, job commitment, impulsive behaviour, employee recognition and feelings of obligations. The success of organization has got relationship with tenure of employees. Women Employee cost is one of important factor in IT organizations. Therefore, in order to reduce the cost and to have success rate in completion of IT projects tenure of employment plays important role. Ensuring longevity would be helpful to have success in IT organisations. Secondly, an intention of the employees also leads to have high retention of employees. The positive intention of the IT women professionals would be completely based upon external image of organization. Therefore, external image is an important factor in retaining IT women professionals. More feelings of obligations towards also has got positive relationship with women employee retention.

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Professor, Department of Commerce, Alagappa University