IMPACT OF PROFESSIONAL DEVELOPMENT INITIATIVES ON RETENTION RATES OF IT EMPLOYEES IN CHALLENGING ECONOMIC ENVIRONMENTS

Abstract

This research study examines the influence of professional development initiatives on the retention rates of IT employees in Hyderabad, Telangana state, particularly during periods of economic recession. Given the significant contribution of the IT industry to the local economy, understanding the role of professional development in retaining IT talent becomes imperative, especially in the face of economic downturns. This study investigates the effects of skill enhancement, career progression opportunities, employee engagement and motivation, adaptability to change, and the promotion of a learning culture on employee retention within the IT sector. Through an exploration of these factors specific to the context of Hyderabad, Telangana, the research aims to provide valuable insights and recommendations to organizations seeking to enhance their strategies for retaining IT employees during challenging economic times