ANALYZING EMPLOYEE RETENTION IN THE RETAIL SECTOR: BEST PRACTICES AND CHALLENGES

In the retail sector, effective employee retention depends on a number of important factors. The basic ingredient is an inspiring work environment which helps to foster employee dedication and satisfaction. Retailers who regard creating healthy workplace conditions, giving opportunities for professional growth, and ensuring fair salaries and benefits are more likely to retain their staff members. Other essentials in addressing the different needs of employees, particularly in an industry noted for its erratic working hours and seasonal demands, are the adoption of flexible work schedules and initiatives aimed at preserving a good work-life balance. The main aim of the study is to identify key factors influencing employee retention in the retail sector and to evaluate the best practices in employee retention and how they are implemented in the retail sector. For analyzing results, regression analysis, descriptive study & factor analysis has been used. As a result of the research conducted on employee retention in the retail industry, the study finds that it is essential to reduce employee turnover by cultivating a healthy workplace culture, providing competitive wages and benefits, and enabling possibilities for career growth or advancement. Keywords: Employee, Retention, Retail Sector, Challenges, Best Practices.