In today vibrant business environment, retaining a talented employee is a big challenge faced by organizations. We explore certain factors that might support organizations to retain their best employees. In the current research, we empirically examine the direct and indirect relationship of mentoring and strategic leadership to stay of Gen Y workers in the pharma industry in Pakistan. Affective commitment and Perceived organizational support were used as possible mediators. Through a cross-sectional research design, using the survey method, we received 248 responses from employees working in the pharma industry. Results revealed that both mentoring and strategic leadership have significant influence over Gen Y employees retention. Based on our study results, we suggested that managers should practice mentoring program in their talent management strategy and that managers practice a role of strategic leaders and implement a policy that retains the existing employees and attracts the best talent. Managerial implications and theoretical contributions are also discussed.