Impact Of Employee Retention Strategies On Turnover Intentions In Selected Foundry Units Of Kolhapur

Abstract

Employee retention has emerged as a critical concern for the foundry industry in Kolhapur, where high turnover intentions threaten operational stability and productivity. This study investigates the influence of key employee retention practices—such as compensation and benefits, professional advancement opportunities, work environment, training and development, and work–life balance—on employees’ intentions to leave. Data were collected from a representative sample of foundry employees across selected units in Kolhapur and analysed using statistical tools including ANOVA and multiple regression to examine the relationship between retention strategies and turnover intentions. The findings reveal that effective retention practices significantly reduce turnover intentions, with compensation, career growth, and supportive workplace culture being the strongest predictors. The study provides actionable insights for foundry managers to design targeted strategies that enhance workforce stability and reduce attrition, thereby contributing to sustainable industrial performance in the region.