A structured questionnaire was developed using the concept above was used in the survey. The respondents (faculty members) were asked to what degree the faculty retention policies practiced by the college corresponded to their expectations on variables (dependent and independent) related to the dimensions of employee retention model. The questionnaire was sent to 60 full time faculty members of a private colleges located in Delhi/NCR, of which 52 faculty members responded resulting into 86% participation rate. The study used seven point Likert Scale with closed ended questions ranging from “strongly agree” to “strongly disagree”. The researcher assigned numeric values to those options ranging from 7 to 1. Robotics
The purpose of this study was to find answers to questions through the application of scientific procedures. The main aim of study was to discover the truth that is hidden and that has not been discovered as yet. The prime objectives were:
a) To understand the concept of talent management
b) To analyze the factors that lead to the high turnover rate of faculty
c) To suggest ways to reduce the turnover rate of faculty
The statistical package for social science (SPSS, Version 14) was used to analyze the quantitative data. The reliability test has been conducted to verify the internal consistency of the variables obtained in the sample. The Cronbach’s alpha value is found 0.8982, which is much higher than the minimum acceptable level suggested by Nunnally (1978). Several statistical analytical techniques such as Factor Analysis, Multiple Regression Analysis, and correlation analyses have been used to measure the level of incentives of the faculties rendered by the concerned private institutes.
The mean scores computed in Table 1 are based on weighted average method. In the 7-point scale these mean values represent somewhat positive level of talented faculty retention practices from the faculty’s point of view. Among all the factors the leadership behavior has got highest mean value of 6.088 (c1=0.961). This means core faculty members are highly satisfied with that factor practices by the college and it is well accepted by all the faculty members. The notable point is that despite the higher mean value, leadership behavior has no significant correlation with faculty retention. This might be due to the lack of sufficiently large number of samples undertaken in the study. From the characteristics of the data, it is observed that the data of training and development (1.1=4.273, 6=1.118) and person-organization fit (1.1=4.746, 8=1.077) are highly deviated from the mean among all other factors. This statistical evidence implies that these two factors involved in the practice of the college are not adequately designed for all the faculty members. Thus, the college should revise their training and development practices and selection policy. On the other hand, the data of working environment (‘=5.574, 0=.8387) and teamwork relationship (p.=5.618, 8=.8450) have been found less deviated from the mean. This statistics indicates that the college has been successfully maintaining good working environment and encouraging teamwork relationship which are appreciated by all level of the faculty positions.
In the table, a significant positive and strong correlation was found for the talented faculty retention in relationship with college culture and policy (r = .685, p <.05), with challenging opportunity (r = .629, <.05) with working environment (r = .584, p <.05), with person organization fit (r = .520, p <.05), and also with teamwork relationship(r = .494, p <.05). This significant correlation indicates that these factors have strong influence on faculty retention policy of the college. Moreover, a positive and strong correlation was found among college culture and policy, challenging opportunity, and person-organization fit which implies the college should develop and adopt a policy that has complete synchronization among those factors.