EMPLOYEE RETENTION

Employee Retention involves taking measures to encourage employees to remain in the organization

for the maximum period of time. Hiring knowledgeable people for the job is essential for an

employer. But retention is even more important than hiring. There are many organizations which are

looking for such employees. If a person is not satisfied by the job he’s doing, he may switch over to

some other more suitable job. In today’s environment it becomes very important for organizations

to retain their employees.

Employee retention is a process in which the employees are encouraged to remain with the

organization for the maximum period of time or until the completion of the project. Employee

retention is beneficial for the organization as well as the employee.

The picture states the latest statement that corporate believes in “Love them or lose them”

The reason may be personal or professional. These reasons should be understood by the employer

and should be taken care of. Employees today are different. They are not the ones who don’t have

good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job,

they switch over to the next job. It is the responsibility of the employer to retain their best

employees. If they don’t, they would be left with no good employees. A good employer should know

how to attract and retain its employees.

HATSUN AGRO PRODUCTS LTD

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The Hatsun world, India's largest private dairy. From a modest ice-cream, Manufacturer to one of the leading names in India's dairy sector in just a span of three decades, Hatsun now stands majestically as a hallmark of successful entrepreneurship. It started as a creamy dream in 1970: Arun Icecreams, the rich, delicious brand that has captured the hearts of millions of icecream lovers. With over 70 delightful varieties it is the No. 1 selling icecream in south India. Arun Icecreams is manufactured at the most modern plant of its kind in Chennai. Arun Icecreams reaches the consumers through the largest network of exclusive parlors in India. These and the many Arun mini-parlors in the rural areas provide employment to thousands of people. When the market was ruled by unhygienic milk, Hatsun came up with Arokya -the standardized, homogenized and bacteria clarified milk. Arokya milk is still unsurpassed in purity, thickness and quality and has made it one of the most preferred milk brands consumed by several hundred thousand households every day and then came Hatsun Komatha. Hatsun handles a total 1.8 million litre a day.

In 1970’s Mr.K.G.Chandramogan started the Ice-cream business in small level. But it developed well and Ice-cream market gives well profit. Next started dairy division in salem near by karumapuram village. First it was package section. In 1998, Hatsun food private ltd established in big level fluid milk processing.

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MEASURES ADOPTED BY HATSUN AGRO PRODUCTS TO RETAIN THEIR EMPLOYEES

Hatsun Agro Prodcuts Ltd deals in agro products like milk, paneer, skimmed milk powder.

S.No Category No.of Employees

1. Officers 30

2. Staff 30

3. Workers 290

Total 350

The strategy is:

Bangkok Tour for one week

This tour was applicable to those employees who will complete their target. The time period for complete a target was two months (from 15June to 15August). Employees have to make individually profit for a company of Rs.12 lakhs to complete their target.

The target pattern was like this:

Target Rewards

Rs.12 lakh - Bangkok Tour

Rs.10 lakh - Laptop/LCD

Rs.7lakh - Blackberry Handset

This was pattern of target. An idea behind this strategy was make profit for company within short period of time and employee satisfaction for their work.

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To complete the target organization also provided required data, leads and information to employees. Employees are motivated to work because of this proposal. Through this proposal there are many opportunities for employees to achieve their career goals.

Within these two months employees can show their talent. They will get rewards according completion of target. These types of proposals can satisfy to employees and retain to employees with current organizations for long period of time. Within this process organization has to provide required information to employees.

Weekly meeting program also help to retain employees. Within these meetings managers or team leaders and employees come together and discuss the bias which employees are facing. Team leaders give the next week target to employees and discuss about the previous week target. These types of meetings help employees to work in a right way.

CONCLUSION

The strategies of Hatsun Agro has to use every organization. These strategies are useful for making profit.

If employees are not satisfied with the job then companies can use these strategies. By using these strategies employee will get motivated and do the sincere work.

For employee retention there should be good communication between team leader and employee, timely motivation and feedback makes confident to employee towards the work.

Training programs helps in enhancing knowledge and skill so, these programs helps in achieving career goals of employees.

Performance appraisal programs enhance employee’s salary; employees got incentives and bonus in this program. These programs should have to be two times in year because some employees work for these programs.

Weekly meeting should have to be taken. In this meeting team leader individually has to ask problems to every employee and he has to give suggestions and information to employee.

After adopting the strategy of retaining employees by organising a tour to Bangkok it was observed that the employees worked hard to attain their respective targets which further helped the company retain employees.

Rate Dropped down from 15.7% to 14.2% in the year 2010-2011.

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NOKIA

Nokia Corporation is a Finnish Multinational communications and information technology corporation headquartered in Keilaniemi, Espoo, Finland. Its principal products are mobile telephones and portable IT devices. It also offers Internet services including applications, games, music, media and messaging through its Ovi platform, and free-of-charge digital map information and navigation services through its wholly owned subsidiary Navteq. Nokia has a joint venture with siemens, Nokia seimens networks, which provides telecommunictaion networks equipment and services.

Nokia has around 105,000 employees across 120 countries, sales in more than 150 countries and annual revenues of around €38 billion. As of 2012, it is the world's second-largest mobile phone maker by unit sales (after Samsung), with a global market share of 22.5% in the first quarter. Nokia is a public limited-liability company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world's 143rd-largest company measured by 2011 revenues according to the Fortune Global 500.

Nokia was the world's largest vendor of mobile phones from 1998 to 2012. However, over the past five years it has suffered declining market share as a result of the growing use of smartphones from other vendors, principally the Apple iPhone and devices running on Google's Android operating system. As a result, its share price has fallen from a high of US$40 in 2007 to under US$3 in 2012. Since February 2011, Nokia has had a strategic partnership with Microsoft, as part of which all Nokia smartphones will incorporate Microsoft's Windows Phone operating system. Nokia unveiled its first Windows Phone handsets, the Lumia 710 and 800, in October 2011.

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MEASURES ADOPTED BY NOKIA TO RETAIN THEIR EMPLOYEES

Among the activities regarded as normal are:

Schemes for occupational sick pay, extended sick leave and access to the firm's

medical adviser;

Schemes for bereavement or other special leave;

The rehabilitation of injured/unfit/ disabled employees and temporary or permanent

move to lighter work;

The maintenance of disablement statistics and registers (there are complicated legal

requirements in respect of quotas of disabled workers and a need for 'certificates'

where quota are not fulfilled and recruitment must take place);

Provision of financial and other support for sports, social, hobbies, activities of many

kinds which are work related;

Provision of canteens and other catering facilities;

Possibly assistance with financial and other aid to employees in difficulty

(supervision, maybe, of an employee managed benevolent fund or scheme);

Provision of information handbooks,

Running of pre-retirement courses and similar fringe activities;

Care for the welfare aspects of health and safety legislation and provision of first-aid

training.

Objectives of a performance appraisal by Nokia

Give employees feedback on performance

Identify employee training needs

Document criteria used to allocate organizational rewards

Form a basis for personnel decisions: salary increases, promotions, disciplinary

actions, bonuses, etc.

Provide the opportunity for organizational diagnosis and development

Facilitate communication between employee and administration

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Validate selection techniques and human resource policies to meet federal Equal

Employment Opportunity requirements.

To improve performance through counseling, coaching and development.

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CONCLUSION

Nokia, failed to retain key employees in the challenge to compete with the Apple iPhone. Although Nokia changed its marketing strategy several times, the company was not strong on retaining and developing management potential of key employees.

CEO's at Nokia did not act quickly to develop management potential of key employees which would have channeled more productivity in product development as well. Not only was key employees lost during Nokia challenge to compete with the Apple iPhone but also key jobs were lost and key decisions went uncontested.

The CEO's at Nokia moved too slowly to make changes in a positive way in management development to compete with the emerging markets of Apple iPhones

Telecom giant Nokia has also announced plans for 3,500 job cuts worldwide, including 300 in India in 2011

The Attrition rate of nokia increased from 18.26 % to 26 %

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GOOGLE

Google Inc.is an American multinational corporation which provides Internet-related products and services, including internet search, cloud computing, software and advertising technologies.

The company was founded by Larry Page and Sergey Brin while both attended Stanford University. Google was first incorporated as a privately held company on September 4, 1998, and its initial public offering followed on August 19, 2004. Rapid growth since incorporation has triggered a chain of products, acquisitions, and partnerships beyond the company's core web search engine. The company offers online productivity software including email, an office suite, and social networking. Google has increasingly become a hardware company with its partnerships with major electronics manufacturers on its high-end Nexus series of devices and its acquisition of Motorola Mobility in May 2012, as well as the construction of fiber-optic infrastructure in Kansas City as part of the Google Fiberbroadband Internet service project.

As of November 2012, Alexa listed the main U.S.-focused google.com site as the Internet's second most visited website and numerous international Google sites as being in the top hundred, as well as several other Google-owned sites such as YouTube and Blogger. As per the quarter ending June 2012, there are about 54,604 Employees worldwide, who have been hired by Google.

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MEASURES ADOPTED BY GOOGLE TO RETAIN THEIR EMPLOYEES

Employee benefits of Google are among the best in the land—free haircuts,gourmet food, on-site doctors and high-tech “cleansing” toilets are among the most talked-about.

Google recently annoucned Death Benefits at Google. Child and Healthcare benefits have also evolved as the company has grown. The best part about the Death Benefit is that there is no tenure for it. i.e. all their

54,604 employees qualify. The main reason behind such a benefit was that Google realised that Death is one of

the harsh realities of life And it’s a horrible, difficult time no matter what, and every time Google went through this as a company they tried to find ways to help the surviving spouse of the Googler who’d passed away.

Gooogle also has on site child care ( For Working Parents ) For Maternity leave Dads get 6 weeks of paid leave and Moms get 18 after the birth

of the child paid leave. To retain employees they use their annual survey called Googlelist that measures the

temperature of employees in every department and analyzes data to identify emerging trends, employee resource groups where like-minded employees share ideas that are funneled up to HR, and email aliases that run the gamut from financial advice to childcare options to café feedback.

18 different cafes

Free Breakfast, Lunch, Dinner

The food is gourmet quality (e.g. omelet bar, chefs that make custom sandwiches for

you, sashimi, free drinks 24/7, free snacks of all sorts 24/7.

Every Friday, Larry, Sergei, or Eric takes questions from us (in person), and we get

free beer (e.g. Downtown Brown)"

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CONCLUSION

Google has one of the best HR strategies planned by any organization. They should be lauded for their efforts to make a change in the lives of people and to treat their employees like valuable assets and human beings. Their HR policy can be strengthened if they give their employees a bit more flexibility and not allow them to burn out. Their employees are not forced to work long hours but then the working conditions are so good that they have to give back a bit of themselves to their work. Google needs to re evaluate how it makes people work at its premises. Employees should be allowed to have some time to them. There should be a policy where employees have to take time out to relax and enjoy some quality time by them. The only thing which is missing is proper career counselling or guidance. Employees would need some sort of guidance to see what sort of career path lies ahead for them. It wouldn’t make any sense for them to go about unguided. Google does not pay a good salary but pays good salaries. This is in sharp contrast to Microsoft which pays better salaries, gives career advice and gives good benefits as well. They need to make sure they pay a good salary so they can retain talent instead of them jumping ship. They have made a good effort in ensuring that employees remain happy and they do give long term benefits to their employees. Their recruitment methods are very tough as they only want the best to come in. They can tweak that in some areas so they can get some who may not be able to prove themselves initially but can do a good job in the long term. The attrition rate due to the maternity leave decreased by 50%.

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