This study examines the current employee retention policies in production and services sectors. Employees are becoming more and more important actors in overall organizational growth and development. This study extracts the application of employee retention strategies and policies in different sectors, factors affecting presence and intensity of retention policies and the kind of practices used by organizations to retain talent. A literature review investigates organizational cultures, factors related to voluntary employee turnover, various employee retention policies and influences. The data is collected through a survey applied to various level employees and HR managers in different industries. Recommendations identified which employee demands firms should consider and the role of leaders in formulating retention policies.