In today’s competitive business world, employee conservation / retention has become a major concern. It is important for any business organization to implement employee conservation / retention strategies to manage employee turnover effectively and efficiently. It must be noted that a high turnover indicates that a company is losing a high percentage of employees as compared to the number of employees who have been hired already. It is also an indication of not doing proper job selection and not creating an environment which helps employees to stay within the organization for a longer period of time. However, a high level of turnover is undesirable for an organization for a number of reasons and affects an organization in many ways causing poor performance, low mployee morale, low productivity and the major loss of revenue that comes from the decreased sales. Keywords: competitive business world, employee conservation, poor performance, low employee morale, low productivity etc.