AN OVERVIEW OF EMPLOYEE RETENTION IN MAHARASHTRA’S SELF-FINANCED EDUCATIONAL SECTOR

Abstract

Abstract: Employee retention has emerged as a pressing human resource concern in higher education institutions, particularly within self-financed colleges and universities in Maharashtra. Escalating competition for expert and accredited faculty, expanding academic responsibilities, and increasing expectations for superior teaching outcomes have intensified the need to retain capable and experienced personnel. Ensuring workforce stability has therefore become integral to preserving academic standards and promoting long-term institutional sustainability. This study undertakes a comprehensive review of scholarly literature on retention strategies in higher education. It examines the principal determinants affecting employee retention, analyzes the specific structural and financial realities of self-financed institutions, and presents strategic recommendations for policymakers and academic leaders in Maharashtra. The review identifies competitive remuneration, structured professional development, meaningful employee engagement, work–life balance initiatives, mentorship frameworks, and strong institutional support systems as critical factors in reducing turnover and enhancing overall organizational effectiveness.