A STUDY OF EMPLOYEE RETENTION IN THE PHARMACEUTICALS SECTOR IN DEHRADUN CITY

Authors: Ms. Deepti Sinha, Dr. Somesh Kumar Shukla

Pages: 30-39

Abstract:

In the highly regulated pharmaceuticals industry, jobs have become more stressful and complicated. Fierce competition has driven salaries higher and higher and benefits must be constantly improved. Although the pharmaceutical industry has lower turnover rates compared to other industries, the cost of turnover is much greater. With strict regulations and rigid timelines, a research specialist's resignation leaves your company with a delay in product development and a loss of talent. Additionally, when a pharmaceutical representative leaves, they take the client relationships with them. These stringent regulations leave employee actions vulnerable to repercussions from their boss and the government. In the given scenario this study has been undertaken to understand the major issues associated with the retention of the pharmaceutical employees in Dehradun city. Another objective is to identify the major causes of the high level of attrition. The study investigates the influence of HR policies, compensation and benefits, work pressure and relationship with the superiors on employee retention.