Journal of Management and Business Solutions 3092-7226 1 Serial Number 1 2023 01 01 Key Factors Influencing Employee Retention in the Tech Industry Key Factors Influencing Employee Retention in the Tech Industry 44 54 EN Journal Article 2022 11 12 <p>The objective of this study was to explore the key factors influencing employee retention in the tech industry in Shiraz, focusing on workplace environment, career development opportunities, and compensation and benefits. This qualitative study employed semi-structured interviews to collect data from 25 employees working in tech companies based in Shiraz. Participants were selected through purposive sampling to ensure diversity in job roles, including software developers, project managers, and technical support staff. Data were analyzed using NVivo software, following a thematic analysis approach, which allowed for the identification of key themes and subthemes related to factors affecting employee retention. The findings revealed that a positive workplace environment, characterized by inclusive company culture, supportive leadership, and a healthy work-life balance, was crucial for employee retention. Additionally, career development opportunities, such as clear paths for promotion and skill development, were identified as key retention factors. Compensation, including competitive salaries, bonuses, and comprehensive benefits, was also critical in retaining employees. Participants highlighted the importance of job security, career growth, and recognition programs as factors that significantly influenced their decision to stay with their employer. Employee retention in Shiraz’s tech industry is largely influenced by the workplace environment, career development opportunities, and compensation packages. Organizations that offer a positive work culture, leadership support, career growth opportunities, and competitive compensation are more likely to retain their employees. Tech companies in Shiraz should focus on enhancing these factors to improve retention and reduce turnover.</p> https://www.journalmbs.com/index.php/jmbs/article/download/5/5