Problems in Retention of Medical Representatives in Selected Pharmaceutical Companies in Pune

Abstract

Employee turnover is an important metric that is often central to organizations' workforce planning and strategy. The reasons why employees leave their current positions- not just the fact that they leave- have crucial implications for future retention rates among current staff, job satisfaction and employee engagement, and an organization's ability to attract talented people for job vacancies.

Employee turnover is defined as "the rate at which employees enter and leave a company in a given fiscal year." Regardless of the health of the economy, turnover is an important metric for HR professionals because it allows them to focus not only on retaining their current workforce but also on planning for the future. Reasons organizations track turnover include the following: lost productivity during the time when positions are vacant; a loss of institutional knowledge; diminished productivity and efficiency from those who remain at the organization and must compensate for job losses by taking on additional work and subsequently training the new hire; hiring and on boarding costs for new employees; and, potentially, decreased customer satisfaction, which is a result of having fewer personnel around to handle requests. In other words, employee turnover can be very expensive and presents new management challenges, so it is "more efficient to retain a quality employee than to recruit, train and orient a replacement of the same quality."

This research paper is based on primary database which was collected during February/ March 2014 from Medical representatives in Pharmaceutical companies in Pune city. In this research paper, we have tried to find out the reasons of switching the existing organization by employees, do employees want to switch their existing organization or not, etc.