In the last decade, the Indian economy has achieved remarkable progress in the area of job creation. It is projected that the global economy would take on a new look in the next decade, one that is fully rebuilt and redefined, with more mature and developed consumer expectations, stronger goods and services, and powerful delivery mechanisms. Businesses across all sectors are preparing for this new face of the global economy. As a result of global economic downturns at various phases, a new paradigm change in several industries is taking place, particularly in Manufacturing Industry. To combat employee attrition, good human resource management must be conducted on a strategic and day-to-day basis. In order for HR procedures to be consistent with the company's policies, they must represent the company's approach to employee concerns. The HR department's function should shift from one of transactional assistance to one of strategic partnership with the company. As a result of the comparison of factors contributing to employee attrition based on company size and nature, HR managers will be better equipped to recognize and creatively solve employee problems that result in attrition.