Effective human resource management must be practiced at both strategic and functional levels because the HR strategy should evolve from a transactional support role to partnering in the organizations business strategy. The HR managers need to apply monetary retention strategies tools such as- performance linked incentives, rewards, increment in salary. The non-monetary retention strategies tools are to be designed as per the requirements such as- job enrichment, past track career program (lower level), training/coaching, work hours’ flexibility, quarterly contest, hi-potential program, fun at work, one on one connect, regular round table discussions between employees and their respective Managers.