vijay solvex project "retention strategy"

8/9/2019 Vijay Solvex PROJECT "Retention Strategy"

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A

Project ReportProject Report

OnOn

An analytical study of Employees Retention StrategyAn analytical study of Employees Retention Strategy

at Vijay Solvex Ltd.at Vijay Solvex Ltd.

Submitted in te partial fulfillment for te a!ard of degree ofSubmitted in te partial fulfillment for te a!ard of degree of

"aster of #usiness Administration"aster of #usiness Administration

{2007 2009}

Guided By : Submitted By:

Mr. Yash Saini Bhavna SinghalMBA Sem.

.

Laxmi $evi %nstitute of Engineering &'ecnology!ijara "igh#ay$ %hi&aani$ Al#ar 'Raj.(


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Declaration

) am BHAVNA SINGHAL student o* MBA$ +),!$ %hi&aani$ Al#ar 'Raj.("ere by declare that in*ormant *acts - *igures produce in the report isbased on my o#n eperiences - study during my research Emlo!ee"etention Strate#!$in Vi%a! Sol&e' L(D)* AL+A")

) *urther declared that all in*ormation - *acts *urnish in the project Reportbased on etensive research and *inding. !hey are original - *irst handingnature.

Date, #(AV)A S%)*(AL-BA . SE-)

/lace, LIE(* AL+A" "a%)1


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Acno3le4#ement

!he credit *or the success*ul completion o* my dissertation goes primarily to -r

5a6 Saini 8 -r) Anr :ain /ro;) o; La'mi De&i in6titte o; En#ineerin# 8

(ecnolo#! at


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/re;ace

!he vie#ing o* "uman Resource or Personnel o* an organi0ation as an importanteconomic resource is a recent development. "6MA7 resource o* an underta&ing is

de*ined as a collection o* aptitude$ s&ills$ epertise$ &no#ledge$ and attitude$ e**orts o*

#or&ers$ direct and indirect sta** and eecutives. "uman resource is considered to be

the most valuable assets o* any organi0ation. 8!he per*ormance$ success or *ailure o*

the organi0ation is greatly in*luenced by the 9uality o* this resource.

project study is one o* the essential part to#ards the partial *ul*illment o* the

re9uirement o* t#o year *ull time MBA programmed. )n this line$ ) had an opportunity to

convert my theoretical &no#ledge to my practical corporate eposure.

!his project #as underta&en to study vital aspect o* ,mployee Retention Strategy as

*ind this topic very interesting. !he project is divided into various chapters #hich gives a

clear picture o* #hat my project is all about$ right *rom the introduction o* the company

to analysis - *indings. 5or the *ul*illment o* the project ) #ent through companys

in*ormation its di**erent manu*acturing units data$ had conversations #ith my mentor

and other employees o* the company.

A*ter that a good amount o* research has gone in #riting do#n the reason and certain

important aspects *rom the last 9uarter '; ?=@( in accordance #ith the overal

study o* the company..

) hope everyone enjoy my project and *ind the approach interesting. ) had a great deal

o* *un doing my research and learning about conceptual and practical things about a

companys "R position. ) hope it #ill add value to 1ijay Solve +td. and has also helped

me in understanding and applying the theoretical &no#ledge #hich ) have gained in my

Second year o* Project studies.


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(a>le o;


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E'ecti&e 6mmar!

1ijay Solve +td is the *lagship company o* ,dible 3il Civision o* Cata Group o*)ndustries. !he major products #hich it manu*actures and mar&ets are Mustard

3il 'achchi Ghani and Pa&&i Ghani($ 1anaspati Ghee$ Re*ined

SoyabeanHMustard oil and Salt under the *amous S%33!,R brand $5ine Bone

%hina !able#are$ %eramic Gi*t items$ "igh !ension Porcelain )nsulators$ /ind

Po#er$ )nternet and )! Services and So*t#are.

,stablished in @@@$ Cata )n*osys +imited$ a )S3?@== company$ is )ndiaIspioneer - leader in )nternet services$ Application services$ Project design and

development$ /ireless solutions and %all %enter operations #ith services

broadened to meet the all time business and technology needs o* todayIs global

environment.

!his report consists o* D chapters.


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@)@ Intro4ction o; Hman "e6orce -ana#ement

"uman Resource Management '"RM( is the *unction #ithin an organi0ation

that *ocuses on recruitment o*$ management o*$ and providing direction *or the

people #ho #or& in the organi0ation. "uman Resource Management can also be

per*ormed by line managers.

"uman Resource Management is the organi0ational *unction that deals

#ith issues related to people such as compensation$ hiring$ per*ormance

management$ organi0ation development$ sa*ety$ #ellness$ bene*its$ employee

motivation$ communication$ administration$ and training.

!he "uman Resources Management '"RM( *unct ion

includes a variety o* activit ies$ and &ey among them is deciding #hat

sta**ing needs you have and #hether to use independent contractors

or hire employees to * i l l these needs$ recruit ing and training the best

emp loyees $ ensur ing t hey a re h igh per *o rmers$ deal ing #i th

per*ormance issues$ and ensuring your personnel and management

practices con*orm to various regulations.

Activities also include managing yo ur approach to employee bene*its

and compensat ion$ employee records and personnel pol ic ies.

6sual ly smal l businesses '*or?pro*i t or nonpro*i t ( have to carry out

these act iv i t ies themselves because they canI t yet a* *ord part ? or

*ul l ?t ime help. "o#ever$ they should al#ays ensure that employees

have ? ? and are a#are o* ? ? personnel po l ic ies #hich con*orm to

current regulations. !hese policies are o*ten in the *orm o* employee

manuals$ #hich all employees have.


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@)2 Intro4ction o;


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@) OB:E


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@). O>%ecti&e o; te St4!,?

!o &no# the ,mployee Retention strategy o*

1ijay Solve +imited.

Analysis the di**erent major sources o* Retention Strategy.

!o &no# ho# "R department #or& in 1ijay Solve

+imited$ at Al#ar Plant.

!o *ind out the peoples perception about company.

.

!o come out #ith conclusion and suggestions based on the analysis and

the )nterpretation o* data.


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+., RESEAR-( "E'($L*/

Research is the systematic designN collection$ analysis and reporting o* data and

*indings are relevant to a speci*ic organi0ation situation.

!he main objective o* the research is to *ind out the truth$ #hich is hidden andhas not been discovered yet. Research replaces intuitive business decision by

more logical and scienti*ic decisions.

Research methodology is a #ay to systematically solve the research problem. )t

may be understood as a study o* ho# research is done scienti*ically. !hrough

research methodology #e study the various steps that are generally adopted by

researcher ) studying his research problem along #ith the logic behind them. !he

researcher should not only &no# the various approachesH techni9ues available

*or particular research techni9ues$ but they also need to &no# #hich o* these

methods are relevant and #hich are not.

+.+ 'e objectives of te researc are as follo!0


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!o *ind out #eather the employees are satis*ied #ith their job.

!o *ind out the e**ectiveness o* training *unction.

!o analy0e the vision - the mission o* the company.

!o *ind out the company policy regarding salary - #ages

!o analy0e the *acilities provided by the organi0ation to the #or&ers.

!o *ind out e**ectiveness training process.

!o *ind out the e**ectiveness o* the methods o* training.

!o &no# the strength and re9uirement o* training o* employees o* the

company.

!o generate a *eedbac& *rom the area o* survey.

!o generate solutions to the various problems brought in *ront during

survey.


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+.1 Researc 2roblem

My research problem is to study the level o* job satis*action among its employee

in 1ijay Solve +td.in Al#ar.

!he method o* my research #or& is based upon the collection o* data through

9uestionnaires$ observations$ and the intervie#s *rom its employees. !he method

includes the research design$ types o* research$ the data collection$ sampling

and analysis. Research design s actually a conceptual structure #ith #hich

research is conducted. ) choose the Al#ar city *or my research #or&.

+.3 Researc $esign

A research design is the arrangement o* condition *or collection and analysis o*

data in such a manner that it aims to combine relevance to the research purpose

#ith economy in procedure. )t is a actually a conceptual structure #ith #hich

research is conducted. )t contributes the blue prints *or collection o*

measurement and analysis o* data$ since our project deals #ith the *inding out th

advisors bene*its. 3ur research includes both C,S%R)P!)1, and

,4P+3RA!3RY research design.

2)C SA-/LING /LAN,

)t is very di**icult to collect in*ormation *rom every member o* a

population .As time and costs are the major limitation that the researcher

*aces.

A sample o* @00 #as ta&en the sample si0e o* == individuals #ereselected on the basis o* convenient sampling techni9ue. !he individuals

#ere selected in the random manner to *orm sample and data #ere

collected *rom them *or the research study.

2) ANAL5SIS AND IN(E"/"E(A(ION,


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Cata collection through 9uestionnaire and personnel intervie# resulted in

availability o* the desired in*ormation but these #ere useless until there

#ere analy0ed. 1arious steps re9uired *or this purpose #ere editing$

coding and tabulating. !abulating re*ers to bringing together similar data

and compiling them in an accurate and meaning*ul manner. !he data

collected by 9uestionnaire #as analy0ed$ interpreted #ith the help o*

table$ bar chart and pie chart.

2)7 (5/ES O "ESEA"


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+.4 $A'A -LLE-'%) "E'($S

3ne can visuali0ed the *act that a detailed study is re9uired in each practical

situation *or better results. Any e**ort #hich is directed to such study *or better

result is &no#n as Lre6earc)$A research is an organi0ed set o* activities to

study and develop a model or procedure or a techni9ue to *ind the results o* a

realistic problem supported by recreate and data such that its objectives are

optimi0ed and *urther ma&e recommendations or in*erences *or implementations.

According to Advanced +earners Cictionary o* %urrent ,nglish$ LResearch

is de*ined as a care*ul investigation or in9uiry especially through search *or ne#

*acts in any branch o* &no#ledge.

Research re*ers to the systematic method consisting o* enunciating the problem$

*ormulating a hypothesis$ collecting the *acts or data$ analy0ing the *acts and

reaching certain conclusions either in the *orm o* solutions to#ards the

concerned problem or in certain generali0ations *or some theoretical *ormulation.

A system o* models$ procedures and techni9ues used to *ind out the

results o* a research problem is called a research methodology. !he research

process includes the *ollo#ing steps:

Problem de*inition

3bjective o* the research

Research design

Cata collection

Cata analysis

Cata interpretation

1alidation o* results


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./rimar! Data,

!ools *or collecting the primary data are as *ollo#s?

Structured 9uestionnaire

Survey and observation

)ntervie# Method


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+.6 2R#LE" '(A' % 7A-E$ $5R%)$ "/ RESEAR-(

8R9

%ollection o* data 1ijay Solve +td #as a typical process$ as ) had to

search the #ebsite$ ne#spapers$ maga0ines and company reports.

%ollection o* 9uestionnaires *or this research #or& #as not an easy tas&.

,mployees #ere not giving ans#ers easily due to o* its con*idential

in*ormation.

) tried so many times branch managers and other employee to get ther

responses.

5irst time the branch manager #as not giving me the permission to ta&e

intervie#s o* their employee.

!o solve the research problem is not an easy tas& but the suggestions o*

my guide and corporation o* sta** and my *riends and my literature

&no#ledge provide me the valuable result o* my research problem.


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-"2A)/ 2R7%LE

1ijay Solve +td is the *lagship company o* ,dible 3il Civision o* Cata Group o*

)ndustries. !he major products #hich it manu*actures and mar&ets are Mustard

3il 'achchi Ghani and Pa&&i Ghani($ 1anaspati Ghee$ Re*ined

SoybeanHMustard oil and Salt under the *amous S%33!,R brand $5ine Bone

%hina !able#are$ %eramic Gi*t items$ "igh !ension Porcelain )nsulators$ /ind

Po#er$ )nternet and )! Services and So*t#are.

!he group also invests in "orticulture and Real ,state !he products are

synonymous #ith ecellent 9uality and are available nation#ide. .

Cata Group is an )ndian M7% #ith vested interests in Asia$ ,urope and the 6S.

Started in @>F #ith a small oil mill 'etracting mustard oil($ the group stands

today at 6SK


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%ompany 7ame : 1ijay Solve +td.

Address: Bhag#ati Sadan S#ami Cayanand

Marg

Al#ar$ Rajasthan$ )ndia.

ip H Postal %ode : ===

!elephone: = ?


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)@ $A'A *R52

Cata Group is an )ndian M7% #ith vested interests in Asia$ ,urope

and the 6S. Started in @>F #ith a small oi l mi l l 'etract ing mustard

oi l ( $ the group stands today at 6SK


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1.+ $A'A %)7S/S L%"%'E$

,stabl ished in @@@$ Cata )n*osys +imited$ a

)S3?@== company$ i s )nd ia Is p ioneer -

l eade r in ) nt erne t servi ces$ Appli ca ti on

services$ Project design and development$/ireless solutions and %all %enter

operat ions #ith services broadened to meet

the al l t ime business and technology needs

o* todayIs global environment.

As a leader in )nternet solution$ #e o**er )SP services to

revolut ioni0e the #ay people use )nternet to communicate$ conduct

business$ ga in in*ormat ion$ and carry out t ransactions. /e have

carved a n iche *o r ourse lves i n t he compe ti ti ve i n* orma ti on

technology #orld and are success*ully o**ering services to more than

la&hso* internet subscribers in )ndia and abroad. 3ur vision is to be

a value?based g lobal organi0ation$ prov id ing customer?centr ic

solut ions to the highest standards o* ecel lence$ creat ing value to

a l l s ta&eholders. /e are propel led by the phi losophy o* pr ide in

serv ice$ competence in enterpr ise$ integr ity in compet it ion and

synergy in action.


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Present ly #e a re runni ng compl ai nt

managemen t %al l %en te r * or 2ai pu r$

Ajmer and 2odhpur 1idyu t 1itaran 7igam

+imited. /e are also manning and

manag ing t he cal l cen te r * or Bha ra t

Sanchar 7igam +imited 'BS7+($ 7umber

one te lecom company i n ) nd ia $ * or t he s ta te o * Rajast han -

6ttaranchal serving around mill ion consumers.

/e also pioneer ne# social entrepreneurship ventures in 7orth )ndia

as #e #ant to be in the *ore*ront and bring posit ive changes in the

#orld.

Services provided by the company include CS+ 'Cigi tal Subscriber

+ine( and leased circuits. !he company also has valuable solut ions

*or 1P7 '1i rtual Pr ivate 7et#or&($ ,t ranet$ )nternet $ 7et#or&

Solut ions and e?commerce including payment gate#ays. ) t has 13)P

'1oice 3ver )nternet Protocol($ /AP '/ireless Application Protocol($

6MS '6ni* ied Messaging Services($ %all centers and !ranscriptions.


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) $A'A %)7-" L%"%'E$

Cata )n*ocom + im ited i s the a#ard?

# inning so* t#are solut ion p rovider$

*ocused on improving business

col laborat ion and communicat ion tools

avai lab le to organi0at ions. /e are a

serv ice or iented company$ prov id ing

turn&ey solutions *or balancing

ecel lence and e* *ic iency in the most cost e* *ect ive manner. /e

bel ieve in invent ing the *uture$ rather than predict ing i t . /e discover

the #ays in #hich #e can organi0e our s trength into compel ling

po#er and serve organi0at ions constant ly #i th thei r )! needs. 3ur

eper ti se l ie i n the a rea o * helping o rgan i0at ions des ign and

imp lement the h ighest g rade communica tion sys tems. C )+ has

d evelo pe d u ni9ue an d le ad ing e dge p rod ucts tha t a re &e y

components i n h igh?per*ormance$ h igh?avai labi li ty and h igh?rel iabil i ty *or our customers. Some o* our revolutionary products

are :

GEN /l6 , (e mo6t a4&ance4 email 6er&er in te 3orl4

to4a!)

Sam:a4oo , ltimate 6am rotection)

Ban4 , (e Ban43i4t mana#ement 6!6tem)


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). DIVISONS O VI:A5 SOLVE L(D)


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) t i s one o* the leading p layers in the emerg ing

)ndian Retai l sector and is a pre*erred suppl ier to

major retai l s to res in )nd ia . ) t i s epor ti ng i ts

products to countries l i&e 6.$ Germany$ "ungary$

Middle ,ast$ Sri lan&a$ 6S etc.

!o etend i ts presence over seas$ Cata Group

established Cata "ouse#ares +imited$ at

Birmingham .6..

(R'%-5L'5RE

!o encourage the Agro act iv it ies$

Cata Group is engaged in

hort icu lture$ agricul ture and soc ial*orest ry a t modern *arms located in

Al#ar and Madhya Pradesh. !he

group is no# planning to go *or

biodiesel through 2etropha plantation.


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"EAL ES(A(E

6nder another diversi * icat ion program$ the

g roup too& ove r a p roj ec t o * shopp ing

comple called CA!A AR%AC, in the heart

o* Al#ar ' the ci ty o* Par&s(. Mosts shops

have been so ld as o* * i ces and shops *or

M7%s.

/O+E" GENE"A(ION

Cata Group is commited to snergic

advantage and operat ing cost economy to

compete to the g lobal compet it ion. 6nder

th is visio n in Ma rch


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EDIBLE OIL DIVISION

Cata Group has seven dist inct ive edible oi l processing complees.

!hey can be classi* ied as )ntegrated oi l seed processing complees

and 3il Mil ls. Vi%a! Sol&e' Lt4 VSL1 and "a#&ar In4ia Lt4 "IL1

a re the gr oups t#o m oder n in teg ra ted oil se ed pr oce ssin g

complees. Severa l modi *ications and epansion in production

capacity o* 1S+ has been made over the years. Seeing the demand

and supply$ R)+ #as ac9uired in F at hai r tha l$ MHs 1 ijay )ndust ries. !he mil ls

produce high 9ual i ty mustard pungent oi l #hich is r ich in aroma and

* lavour. !he group is one o* the largest producers o* mustard oi l in

)ndia.

Data Gro a6 >een 6mart in a66e66in#

te e4i>le oil con6mtion attern in te

contr!) le oil con6mtion* it6

lannin# to ;rter enance te

ro4ction caacit!) (e crrent caacit!

i6 ,

%urrent consolidated production

capacity:

1anaspati Ghee T ==!PC

Re*ined 3il T ==!PC

Solvent ,traction T >==!PC

3il Mil l T


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)n )nd ia$ most brands are reg ional in nature and serve the loca l

mar&et . /e at Cata Group$ see th is as an opportun i ty to gro# at

nat ional level . ,* *orts are being made to mar&et our brand nat ion

#ide #ith strong *ocus on creating a robust distribution net#or&.

). B"ANDS O VI:A5 SOLVE L(D

BRANDS

SCOOTER ASHOKA HANUMAN


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)C /"OD


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SO5ABEAN "EINED OIL

S%33!,R b ra nd

Re*ined Soyabean

3il is l ight and

good *or health

!hi s 3 il con ta ins

good amount o*

P65A and M65A

#hich are

considered essent ia l *or the human body. Soybean oi l is dominant

vegetable oil used in households across the #orld.

-S(A"D "EINED OIL

S%33!,R brand Re*ined

Mustard 3il is o* made *rom

homeit light oil *or coo&ing.


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G"OND N( OIL

Groundnut oi l is an

all purpose oi l

made *rom peanuts.

) t is general ly used

*or i t *or i t s Unut ty

* lavor and taste. ) t

!he o il i s su itab le

*or all types o* coo&ing? * ry ing $ gr i l l ing and seasoning. Studies have sho#n that

groundnut oi l is just as e**ect ive in protect ing against heart disease$

as is ol ive oi l . !his is because i t has simi lar propert ies and a simi lar

*atty acid composit ion$ as does olive oil.

IODISED SAL(

6nder Cata Groups

d iversi *i ca tion p rogram$ MHs

Saurabh Agrotech 'P( +td$ Al#ar

has started mar&eting o*

Re* ined$ 5ree * lo# and )odised

salt through its eisting

in *r astru ctu re. )o dised Sa lt

'compound o* sodium and

chlor ine( helps to remedy iodine de* ic iency in body and helps to

mainta in good heal th . !he sa l t i s pac&ed at Gandhidham and is

gradually increasing its mar&et share.


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)7 LOle oilroce66in#comle',Sol&entE'traction,De Oile4cae DO


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an4 +in4/o3er

@999DeeaVe#ro /1Lt4

,dible 3il Al3ar "a%)1

Oil -ill,-6tar4 oilan4 cae

+in4 /o3er

@99KDataIn;o6!6 Lt4

I(JSo;t3are :air "a%)1

InternetSer&ice/ro&i4er*So;t3areDe&eloment

@992

:airGla66 8/otterie6a nit o; VSL1

le Oil


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Niran%an Lal Data* = year o ld patriarch o* Cata

Group. "is achievements have to be seen in l ight o* )ndiaIs

recent economic resurgence. +eadership according to him

means motivating others and he inspires a#e and respect

though his simplicity. As visionary$ he encompasses his F

years o* rich eperience in oil industry.

Ba> Lal Data* Director

Babulal Cata brings < years o* vast$ realistic eperience$

#hich steers the GroupIs strategies. "e holds the honor o*

being elected unopposed as the President o* hair thal

1yapar Samit i * rom @>@ to


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Vi%a! =mar Data* Director

1ijay Cata is the Managing Cirector o* 1ijay Solve +td.$ a

division o* Cata Group. "e guides the Group #ith intense

intel lect and sense o* p ioneer ing 0eal. "is


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Deea Data* Director

Ceepa& Cata is Cirector 'Business Cevelopment( o* Cata

)n*ocom +td. and is loo&ing a*ter day to day operations *orproviding )nternet Services. "e did his Post Graduation in

%omputer Science *rom +eeds Metropoli tan 6niversity$

6nited ingdom.

Dr) A%a! =mar Data *


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Sara> Data* Director

Saurabh Cata is C irector o* 1i jay Solve + td . and is

currently assisting Shri 1ijay Cata in day to day operations

o* the company. "e completed his BSc. '"ons( %omputing

*rom 6niversity o* +eeds$ 6..


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)9


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Mr Ramesh chand gupta 7on?eecutiveH independentdirector

Mr Ram babu jhalani 7on?eecutiveH independentdirector

Mr 3mpra&ash gupta 7on?eecutiveH independentdirector

Mr Ram&ishore 7on?eecutiveH independentdirector


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)@0 O"GANISA(ION


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)@@ S--A"5 O E-/LO5EES

SE"IALN-BE"

/A"(I=


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)@@ INDIAN EDIBLE OIL INDS("5,


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NE( SALES "S) IN -ILLION1


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EBI(DA -A"GIN"S) IN -ILLION1


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NE( /"OI(1


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EA"NING /E" SHA"E"S1


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SHA"E HOLDING /A((E"N


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(HE O//O"(NI(5

vijay solve limited is in the business o* manu*acturing$

processing and mar&eting o* branded mustard and

edible oils.

)t is a listed company #hich is desirous o* raising *unds

through private placement o* e9uity to investors. !he

*unds are proposed to be utili0ed *or *unding

ac9uisitions o* manu*acturing *acilities.

!he company o**ers an attractive investment

opportunity in a rapidly epanding branded edible oi l

mar&ets.


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-)-E2'5AL 7RA"E8R9

,mployee Retention involves ta&ing measures to encourage employees to

remain in the organi0ation *or the maimum period o* time. %orporate is *acing a

lot o* problems in employee retention these days. "iring &no#ledgeable people

*or the job is essential *or an employer. But retention is even more important than

hiring. !here is no dearth o* opportunities *or a talented person. !here are many

organi0ations #hich are loo&ing *or such employees. )* a person is not satis*ied

by the job hes doing$ he may s#itch over to some other more suitable job.

)n todays environment it becomes very important *or organi0ations to retain their

employees. !he top organi0ations are on the top because they value their

employees and they &no# ho# to &eep them glued to the organi0ation.

,mployees stay and leave organi0ations *or some reasons. !he reason may be

personal or pro*essional. !hese reasons should be understood by the employer

and should be ta&en care o*. !he organi0ations are becoming a#are o* these

reasons and adopting many strategies *or employee retention.

)n this section #e are going to study about various topics related to employee

retention$ #hy is it needed$ basic practices$ myths$ etc. in detail.


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3., Employee Retention0

,mployee retention is a process in #hich the employees are encouraged to

remain #ith the organi0ation *or the maimum period o* time or until the

completion o* the project. ,mployee retention is bene*icial *or the organi0ation as

#ell as the employee.

,mployees today are di**erent. !hey are not the ones #ho dont have good

opportunities in hand. As soon as they *eel dissatis*ied #ith the current employer

or the job$ they s#itch over to the net job. )t is the responsibility o* the employer

to retain their best employees. )* they dont$ they #ould be le*t #ith no good

employees. A good employer should &no# ho# to attract and retain its

employees. Retention involves *ive major things:


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%ompensation ,nvironment Gro#th

Relationship

Support

,mployee retention#ould re9uire a lot o* e**orts$ energy$ and resources but the

results are #orth it. %ompensation constitutes the largest part o* the emlo!ee

retention process. !he employees al#ays have high epectations regarding

their compensation pac&ages. %ompensation pac&ages vary *rom industry to

industry. So an attractive compensation pac&age plays a critical role in retaining

the employees.

-ompensation0

%ompensation constitutes the largest part o* the employee retention process.

!he employees al#ays have high epectations regarding their compensation

pac&ages. %ompensation pac&ages vary *rom industry to industry. So an

attractive compensation pac&age plays a critical role in retaining the employees.

%ompensation includes salary and #ages$ bonuses$ bene*its$ prere9uisites$

stoc& options$ bonuses$ vacations$ etc. /hile setting up the pac&ages$ the

*ollo#ing components should be &ept in mind:
http://retention.naukrihub.com/compensation.htmlhttp://retention.naukrihub.com/environment.htmlhttp://retention.naukrihub.com/growth.htmlhttp://retention.naukrihub.com/relationship.htmlhttp://retention.naukrihub.com/support.htmlhttp://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/environment.htmlhttp://retention.naukrihub.com/growth.htmlhttp://retention.naukrihub.com/relationship.htmlhttp://retention.naukrihub.com/support.htmlhttp://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/compensation.html


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Salary and monthly #age: )t is the biggest component o* the compensation

pac&age. )t is also the most common *actor o* comparison among employees. )t

includes

o Basic #age

o "ouse rent allo#ance

o Cearness allo#ance

o %ity compensatory allo#ance

Salary and #ages represent the level o* s&ill and eperience an individual has.

!ime to time increase in the salaries and #ages o* employees should be done.

And this increase should be based on the employees per*ormance and his

contribution to the organi0ation.

#onus: Bonuses are usually given to the employees at the end o* the year or

on a *estival.


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Economic benefits:)t includes paid holidays$ leave travel concession$ etc.

Long:term incentives:+ong term incentives include stoc& options or stoc&

grants. !hese incentives help retain employees in the organi0ationIs startupstage.

(ealt insurance0 "ealth insurance is a great bene*it to the

employees. )t saves employees money as #ell as gives them a peace o*mind that they have somebody to ta&e care o* them in bad times. )t also

sho#s the employee that the organi0ation cares about the employee and

its *amily.

After retirement0)t includes payments that an ,mployee gets a*ter he

retires li&e ,P5 ',mployee Provident 5und( etc.

Miscellaneous compensation: )t may include employee assistance

programs 'li&e psychological counseling$ legal assistance etc($ discounts

on company products$ use o* a company cars$ etc.

*ro!t and -areer0

Gro#th and development are the integral part o* every individuals career. )* an

employee can not *oresee his path o* career development in his current

organi0ation$ there are chances that hell leave the organi0ation as soon as he

gets an opportunity.


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!he important *actors in employee gro#th that an employee loo&s *or

himsel* are:

+or ro;ile,!he #or& pro*ile on #hich the employee is #or&ing should

be in sync #ith his capabilities. !he pro*ile should not be too lo# or too

high.

2ersonal gro!t and dreams0

,mployees responsibilities in the organi0ation should help him achieve his

personal goals also. 3rgani0ations can not &eep aside the individual goals o*

employees and *oster organi0ations goals. ,mployees priority is to #or& *or

themselves and later on comes the organi0ation. )* hes not satis*ied #ith his

gro#th$ hell not be able to contribute in organi0ation gro#th.

(rainin# an4 4e&eloment,

,mployees should be trained and given chance to improve and enhance their

s&ills. Many employers *ear that i* the employees are #ell rained$ theyll leave

the organi0ation *or better jobs. 3rgani0ation should not limit the resources on

#hich organi0ations success depends. !hese trainings can be given to

improve many s&ills li&e:

%ommunications s&ills

!echnical s&ills

)n?house processes and procedures improvement related s&ill

% or customer satis*action related s&ills

Special project related s&ills


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7eed *or such trainings can be recogni0ed *rom individual per*ormance

revie#s$ individual meetings$ employee satis*action surveys and by being in

constant

Support0

+ac& o* support *rom management can sometimes serve as a reason *or

emlo!ee retention)

Supervisor should support his subordinates in a #ay so that each one o* them is a

success. Management should try to *ocus on its employees and support them not

only in their di**icult times at #or& but also through the times o* personal crisis.

Management can support employees by providing them recognition andappreciation.

,mployers can also provide valuable *eedbac& to employees and ma&e

them *eel valued to the organi0ation. !he *eedbac& *rom supervisor helps the

employee to *eel more responsible$ con*ident and empo#ered. !op management

can also support its employees in their personal crisis by providing personal

loans during emergencies$ childcare services$ employee assistance programs$

counseling services$ et al.

,mployers can also support their employees by creating an environment o* trust

and inculcating the organi0ational values into employees. !hus employers can

support their employees in a number o* #ays as *ollo#s:
http://retention.naukrihub.com/http://retention.naukrihub.com/


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By providing *eedbac&

By giving recognition and re#ards

By counseling them

by providing emotional support

%mportance of Relationsip in Employee Retention

2rogramme

Sometimes the relationship #ith the management and the peers becomes the

reason *or an employee to leave the organi0ation. !he management is sometimes

not able to provide an employee a supportive #or& culture and environment in

terms o* personal or pro*essional relationships. !here are times #hen an

employee starts *eeling bitterness to#ards the management or peers. !his

bitterness could be due to many reasons. !his decreases employees interest and

he becomes de?motivated. )t leads to less satis*action and eventually attrition A

supportive #or& culture helps gro# employee pro*essionally and boosts employee

satis*action. !o enhance good pro*essional relationships at #or&$ the management

should &eep the *ollo#ing points in mind.

"e6ect ;or te in4i&i4al, Respect *or the individual is the must in the

organi0ation.

"elation6i 3it te imme4iate mana#er,A manger plays the role o* a

mentor and a coach. "e designs ands plans #or& *or each employee. )t is his duty

to involve the employee in the processes o* the organi0ation. So an organi0ation


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should hire managers #ho can ma&e and maintain good relations #ith their

subordinates.

"elation6i 3it collea#e6:Promote team #or&$ not only among teams

but in di**erent departments as #ell. !his #ill induce competition as #ell as

improve the relationships among colleagues.

"ecrit 3ole earte4l!,An employee should be recruited i* there is a

proper place and duties *or him to per*orm. 3ther#ise hell *eel useless and #ill be

dissatis*ied. ,mployees should &no# #hat the organi0ation epects *rom them and

#hat their epectation *rom the organi0ation is. Celiver #hat is promised.

/romote an emlo!ee >a6e4 cltre,!he employee should &no# that the

organi0ation is there to support him at the time o* need. Sho# them that the

organi0ation cares and hell sho# the same *or the organi0ation. An employee

based culture may include decision ma&ing authority$ availability o* resources$

open door policy$ etc.

In4i&i4al 4e&eloment, !a&ing proper care o* employees includes

ac&no#ledgement to the employees dreams and personal goals. %reate

opportunities *or their career gro#th by providing mentorship programs$

certi*ications$ educational courses$ etc.

In4ce lo!alt!,3rgani0ations should be loyal as #ell as they should promote


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loyalty in the employees too. !ry to ma&e the current employees stay instead o*

recruiting ne# ones.

Or#aniMation En&ironment,

. )t is about managing people. )* an organi0ation manages people #ell$

employee retention #ill ta&e care o* itsel*. 3rgani0ations should *ocus on

managing the #or& environment to ma&e better use o* the available human

assets.

People #ant to #or& *or an organi0ation #hich provides

Appreciation *or the #or& done

Ample opportunities to gro#

A *riendly

A *eeling that the organi0ation is second home to the employee.

Or#aniMation en&ironment incl4e6


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%ulture

1alues

%ompany reputation

;uality o* people in the organi0ation

,mployee development and career gro#th

Ris& ta&ing

+eading technologies

!rust

(!e6 o; en&ironment te emlo!ee nee46 in an

or#aniMation,

Learnin# en&ironment: )t includes continuous learning and improvement o*

the individual$ certi*ications and provision *or higher studies$ etc.

Sort en&ironment,3rgani0ation can provide support in the *orm o* #or&?

li*e balance. /or& li*e balance includes:

o 5leible hours

o !elecommuting

o Cependent care

o Alternate #or& schedules

o 1acations

o /ellness


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+or en&ironment, )t includes e**icient managers$ supportive co?#or&ers$

challenging #or&$ involvement in decision?ma&ing$ clarity o* #or& and

responsibilities$ and recognition.

+ac& or absence o* such environment pushes employees to loo& *or and

ne# opportunities. !he environment should be such that the employee *eels

connected to the organi0ation in every respect.

%mportance f Employee Retention

7o# that so much is being done by organi0ations to retain its employees$ #hy is

retention so importantJ )s it just to reduce the turnover costsJ /ell$ the ans#er is

a de*inite no. )ts not only the cost incurred by a company that emphasi0es theneed o* retaining employees but also the need to retain talented employees *rom

getting poached. !he process o* employee retention#ill bene*it an organi0ation

in the *ollo#ing #ays:

@) (e


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2) Lo66 o;


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loss o* the company directly #hich many a times goes unnoticed. And even

a*ter this you cannot assure us o* the same e**iciency *rom the ne#

employee.

8at "a;es Employee leave

,mployees do not leave an organi0ation #ithout any signi*icant reason. !here

are certain circumstances that lead to their leaving the organi0ation. !he most

common reasons can be:

:o> i6 not 3at te emlo!ee e'ecte4 to >e, Sometimes the

job responsibilities dont come out to be same as epected by the

candidates. 6nepected job responsibilities lead to job dissatis*action.

:o> an4 er6on mi6matc,A candidate may be *it to do a certain

type o* job #hich matches his personality. )* he is given a jobe +eaveJ

#hich mismatches his personality$ then he #ont be able to per*orm it #ell

and #ill try to *ind out reasons to leave the job.


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No #ro3t oortnitie6, 7o or less learning and gro#th

opportunities in the current job #ill ma&e candidates job and career

stagnant.

Lac o; areciation,)* the #or& is not appreciated by the supervisor$

the employee *eels de?motivated and loses interest in job. +ac& o* trust

and support in co#or&ers$ seniors and management: !rust is the most

important *actor that is re9uired *or an individual to stay in the job. 7on?

supportive co#or&ers$ seniors and management can ma&e o**ice

environment un*riendly and di**icult to #or& in.

Stre66 ;rom o&er3or an4 3or li;e im>alance,2ob stress can

lead to #or& li*e imbalance #hich ultimately many times lead to employee

leaving the organi0ation

o;;er,An attractive job o**er #hich an employee thin&s is good

*or him #ith respect to job responsibility$ compensation$ gro#th and

learning etc. can lead an employee to leave the organi0ation.

Employee Retention Strategies


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(e >a6ic ractice6 3ic 6ol4 >e et in min4 in te

emlo!ee retention 6trate#ie6 are,

. "ire the right people in the *irst place.


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+3/

Medium "igh

Employee 'urnover

(ere are ;or t!e6 o; emlo!ee trno&er6,

nctional trno&er, A turnover in #hich poor per*ormers leave is called

as *unctional turnover.

D!6;nctional trno&er, A turnover in #hich good per*ormers leave iscalled as dys*unctional turnover

A&oi4a>le trno&er,A turnover that happens in avoidable circumstances

is called as avoidable turnover.


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na&oi4a>le trno&er, A turnover tha happens in unavoidable

circumstances is called as unavoidable turnover. 5or eg. ,mployees death or

spouses relocation.

Mostly it is said that employee turn over is not good *or the organi0ations. But

employers should remember that turnover is not that bad either. /hat is re9uired

is an optimum mi o* turnover$ not too high?not too lo#. An optimum mi o*

employee turnover can help in many #ays.

A little rate o; emlo!ee trno&er ma! re6lt into,

. Bringing in ne# ideas and s&ills *rom ne# hires.


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Poor supervision

+ess #or& and li*e balance practices

Attrition Rate

!he attrition rate has al#ays been a sensitive issue *or all organi0ations.

%alculating employee turnover rate is not that simple as it seems to be. 7o

common *ormula can be used by all the organi0ations. A *ormula had to be devised

&eeping in vie# the nature o* the business and di**erent job *unctions. Moreover$

calculating attrition rate is not only about devising a mathematical *ormula. )t also

has to ta&e into account the root o* the problem by going bac& to the hiring stage.

Attrition rate,!here is no standard *ormula to calculate the attrition rate o* a

company. !his is because o* certain *actors as:

!he employee base changes each month. So i* a company has $===

employees in April


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Many *irms may not include attrition o* *reshers #ho leave because o*

higher studies or #ithin three months o* joining.

)n some cases$ attrition o* poor per*ormers may also not be treated as

attrition. %alculating attrition rate:

Attrition rates can be calculated using a simple formula0

Attrition No) o; emlo!ee6 3o le;t in te !ear J

a&era#e emlo!ee6 in te !ear1 ' @00

!hus$ i* the company had $=== employees in April


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Attrition


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!echnology

,mployee bene*its

!rainers !ime


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(rno&er al3a!6 aen6,%ompanies #ho believe in 0ero attrition

rates only *ool themselves. !his happens because employees &eep on

moving due to reasons li&e marriage or *urther education. 7othing can top

these employees *rommoving on. So$ rather than achieving 0ero attrition

companies should *ocus on identi*ying #hom they #ant to &eep so that they

have healthy attrition rate.

Some (rno&er i6 De6ira>le,ero attrition is not desirable mainly

because o* t#o reasons. 5irstly$ i* all employees continue to stay in the

same organi0ation$ most o* them #ill be at the top o* their pay scale #hich

#ill result in ecessive manpo#er costs. Secondly$ ne# employees bring

ne# ideasapproaches$ abilities - attitudes #hich can &eep the organi0ation

*rom becoming stagnant.

(rno&er incl4e6 co6t6, !urnover al#ays includes some costs.

%onsider the costs o* replacing the &ey employee #ho *alls in to the

category o* high per*ormers. !his includes the costs o* recruitment

advertisement$ re*erral bonuses$ selection testing$ training costs$ etc.

Moreover$ turnover results in loss o* time and e**orts$ lo# productivity$ loss

o* morale$ loss o* &no#ledge and so on.

Hi# 6alar! 4oe6nt 3or, Most managers assume that a high salary

pac&age is enough to &eep employees loyal to their organi0ation. ,mployees may

*ace other problems li&e lo# job satis*action$ lo# engagement levels$ no

recognition$ poor #or&ing conditions$ less support *rom superiors and so on.


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Salaries are not al#ays the solution to attrition. Managers should try to identi*y the

roots o* the problem and then *ind a *easible solution.

(e mana#er can re4ce attrition,Managers should ta&e primary

responsibility *or retaining their employees. Much o* the employees

perception o* job satis*action stems *rom the relationship they share #ith

their immediate supervisor. Managers should try to support their

subordinates and give proper *eedbac& on per*ormance. "R managers

should #or& in collaboration to ma&e the &ey employees last in their

organi0ation.

Let 6 e'lore 6ome i4ea6 to re4ce emlo!ee trno&er

"ire the best candidate.

/elcome ne# employees. %ustomi0e your induction program *or ne#

employees according to the re9uirements. Same induction program can not be

applied to all the candidates. Ma&e them *eel #elcomed.

Produce 9uality managers #ho can really manage employees #ell.

Provide employees #ith #or& schedules that are *leible enough to suit their

needs.

X Cont be too demanding. You re hiring human beings #ho have their o#n

li*e and *amily commitments. Respect them.

X Provide career counseling and development.

X Ciscuss your *uture plans regarding the candidate #ith the candidate. +etthem &no# that the management is interested in retaining them and cares *or

them.

X !a&e proper *eedbac& *rom employees regarding their grievances.

X Remember your e?employees. !hey can be o* help in *uture. )t is also a

part o* ,MP+3Y,, R,!,7!)37


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-ana#in# Emlo!ee "etention

!he tas& o* managing employees can be understood as a three stage process:

. )denti*y the cost o* employee turnover


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Imlement retention 6trate#!,

3nce the causes o* attrition are *ound$ a strategy is to be implemented so as to

reduce employee turnover. !he most e**ective strategy is to adopt a holistic

approach to dealing #ith attrition. An e**ective retention strategy #ill see& to

ensure:

Attraction and recruitment strategies enable selection o* the Uright

candidate *or each roleHorgani0ation

7e# employees initial eperiences o* the organi0ation are positive

Appropriate development opportunities are available to employees$ and

that they are &ept a#are o* their li&ely career path #ith the organi0ation

!he organi0ations re#ard strategy re*lects the employee drivers

!he leaving process is managed e**ectively

Ho3 (o Increa6e Emlo!ee "etention

%ompanies have no# reali0ed the importance o* retaining their 9uality #or&*orce.

Retaining 9uality per*ormers contributes to productivity o* the organi0ation and

increases morale among employees.

5our basic *actors that play an important role in increasing employee retention

include salary and remuneration$ providing recognition$ bene*its and

opportunities *or individual gro#th. But are they really positively contributing to

the retention rates o* a companyJ Basic salary$ these days$ hardly reduces

turnover. !oday$ employees loo& beyond the money *actor.


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emlo!ee retention can >e increa6e >! incl4in# te

;ollo3in# ractice6,

. Oen


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"igher attrition rates #ithin a particular industry have *orced companies to use

some innovative strategies to retain employees. Retention Bonus is one o* the

important tools that are being used to retain employees. Retention bonus is an

incentive paid to an employee to retain them through a critical business cycle )

"etention >on6e6are becoming more common in the corporate #orld because

companies are going through more transitions li&e mergers and ac9uisitions.

!hey need to give &ey people an attractive incentive to stay on through these

transitions to ensure productivity.

Retention bonuses have proven to be a use*ul tool in persuading employees to

stay.

A retention bonus plan is not a panacea) Accor4in# to a 6r&e!$ non?

management employees generally receive about = percent o* their annual

salaries in bonuses$ #hile management and top?level supervisors earn an

additional D= percent o* their annual salaries. /hile bonuses based on salary

percentages are the generally used$ some companies choose to pay a *lat *igure.

)n some companies$ bonuses range *rom


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con6i4era>l! >! creatin# a moti&atin# team cltre an4

imro&in# te relation6i6 3it team mem>er6) (i6 can >e

4one in a ;ollo3in# 3a!,


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Dele#ation,Many team leaders and managers *eel that they are the only

people #ho can do a particular tas& or job. !here*ore$ they do not delegate

their jobs as much as they should. Celegation is a great #ay to develop

competencies.

E'tra "e6on6i>ilit!,Giving etra responsibility to employees is another

#ay to get them engaged #ith the company. "o#ever$ just giving the etra

responsibility does not help. !he manager must spend good time teaching the

employees o* ho# to manage responsibilities given to them so that they dont

*eel over burdened.

oc6 on ;tre career,,mployees are al#ays concerned about their

*uture career. A manager should *ocus on sho#ing employees his career

ladder.


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security o* the message. !he process o* communication is incomplete #ithout the

*eedbac&.

%ommunication is the solution to almost everything in this #orld. Same applies to

employee retention also.

Straight?*rom?the?shoulder communication is #hat the employees need *rom their

employers. ,mployees loo& *or organi0ations #here communication and process

are transparent. 7othing is hidden and shared #ith the employees.

(ere are cate#orie6 o; emlo!ee6:


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A: /ho #ill leave their current employer in years o* their employment

B: /ho have a probability o* leaving their current employer in net years

%: /ho #ill stay #ith their current employer in the net years


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,mails$ 7e#sletters$ )ntranet and many more

So there should be e**ective communication across the organi0ation and this

communication should be t#o?#ay. %ommunication alone can lead to

unimaginable heights o* employee retention.

ee4>ac

5eedbac& acts as a channel o* communication bet#een the employee and his

manager. !he amount o* in*ormation employees receive about ho# #ell or ho#

poorly they have per*ormed is #hat #e call *eedbac&. )t is a dialog bet#een a

manager and an employee #hich acts as a #ay o* sharing in*ormation about the

per*ormance. )t suggests #here the employee per*ormance is e**ective and

#here per*ormance has to improve.

Managers can provide either positive *eedbac& or negative *eedbac& to

employees. !his *eedbac& helps the employee

assess his per*ormance and identi*y the improvement areas.

/o6iti&e ;ee4>ac communicates managerial satis*action. Positive

recognition *or good per*ormance boosts up morale o* employees and results in

per*ormance improvement to a higher productivity level. )t is believed that

positive *eedbac& is the only type o* *eedbac& that generates per*ormance above

the minimum acceptable level.

Ne#ati&e ;ee4>ac obviously communicates managers dissatis*action.
http://retention.naukrihub.com/http://retention.naukrihub.com/http://retention.naukrihub.com/


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"o#ever$ negative *eedbac& sometimes ma&e employee to put more e**orts to

improve his per*ormance. But such times are very rare. Moreover this

improvement is short term.

Some managers do not provide any &ind o* *eedbac& to their employees. Cue to

no *eedbac&$ employees may assume that they are per*orming productively or

they may *eel that the manager is satis*ied #ith their per*ormance. Studies reveal

the per*ormance tends be same or even decreases i* no *eedbac& is provided.

(6* ;ee4>ac i6 nece66ar! >eca6e,

)t builds trust and enhances communication bet#een manager and

employee.

)t gives managers and employees a #ay to identi*y and discuss s&ills and

strengths.

Positive *eedbac& leads to employee retentionand motivation.

)t helps in identi*ying per*ormance areas that need improvement and

speci*ic #ays to improve them.

)t acts as an opportunity to enhance per*ormance by identi*ying resources

*or s&ill development.

)t is an opportunity *or managers and employees to assess and identi*y

career and advancement opportunities.

)t helps employees to understand the e**ectiveness o* their per*ormance and

contributes to their overall &no#ledge about the #or&

Managers have tendency to ignore good per*ormances o* their employees.

Providing no *eedbac& may demotivate employees and may lead to employee

absenteeism. )nput *rom managers side is necessary as it help employees to

improve their per*ormance and increase productivity.


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.)2 act6 an4 in4in#6

!raining - Cevelopment has supported a lot ,mployee Retention -

various plan - procedureVi%a! Sol&e' Lt4. All ,mployees are happily

#or&ing there so the attrition rate is V - retention rate is @@V. !his is

very high.

!he motivational techni9ues - many re#ard procedure is continuously

gro#ing there.

)n Vi%a! Sol&e' Lt4#or&ing pattern is very good - e**ective so 7o. o*

employee or eecutives dont #ant leave the job.

!he #hole Al#ar plant every employee is Gro#ing -contributing company

gro#th also.


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.) Anal!6i6 an4 Interretation

@) Emlo!ee :oinin# ti6 or#aniMation,?

%ategories

%ulture

company

reputation

#or&ing

,nvironment pay scale any other7o. o* personV = FD E= >D =


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IN(E"/E(A(ION,?

)7Vi%a! Sol&e' Lt4)employee are joining the company many reason li&e: culture$

#or&ing environment$ company reputation$ pay scale- any other reason. ,ach

employee join this organi0ation di**erant?< reasons.

2 (e rea6on o; emlo!ee lea&in# ti6 or#aniMation,?

%ategories 3pportunity

gro#th

/or&ing

environment

7e# job

o**er Appreciation

All o*

above

7o. o*personV >= = = D


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IN(E"/E(A(ION,?

)7 Vi%a! Sol&e' Lt4many employee are leaving this reason$ because no# days

there are many opportunities in the #orld. ,very person obtain all opportunities.

Emlo!ee6 lea&in# te or#aniMation In te5ear1,?

V o* leaving employee =?DV D?=V =?DV D?


90/110

)nVi%a! Sol&e' Lt4employee leaving the organi0ation. )n every year employee

leaving the organi0ation in di**erent percentage.

. (e coman! moti&ate te emlo!ee,?

%ategories

Re#ard

Promotion

policy !raining

2ob

Rotation

Any

other

All

Above7o o* personV >DV E=V


91/110

IN(E"/"E(A(ION,

!he employee are motivate in di**erent type o* motivating *actors in thisa company.

+i&e: re#ard$ job rotation etc. so retention isincrease in these *actors.

C (e retention rate in ti6 or#aniMation,?

Position1ery +o# +o# "igh 1ery "igh

7o. o* personV=V DV >=V DV


92/110

IN(E"/E"A(ION,?

)n Vi%a! Sol&e' Lt4#e calculate the retention rate. ,very employee tell di**erent?

di**errent rate. But in this year retention rate is very high.

Sati6;ie4 3it De&eloment Acti&itie6 in ti6 Or#aniMation,?

/o6ition 5e6 No

No) o; er6on90 @0


93/110

IN(E"/"E(A(ION,

@=V employee are satis*ied #ith development activities in this company. =V

employee are not satis*ied . so in this company development activities are better.

7 le 3it te coman! olicie6,?

Position Yes 7o7o. o* personV @DV DV


94/110

IN(E"/"E(A(ION,

@DV employee are com*ortable #ith %ompanies policy in this company. DV

employee are not satis*ied . so in this company policy is better. every employee is

adopted these policies.

C)@ VSL S+O( ANAL5SIS

S("ENG(H

,perienced #or& *orce==V

+icenses rene#ed

%ompliance made,**ective

licensingSa*ety %onsciousness

+EA=NESSES

,mployees turn over

+o# capacity utili0ation

6norgani0ed labour contractors

+ac& o* "R development

O//O"(NI(IES

7e# product development - Better manpo#er utili0ation

Benchmar&ing "R practices

Sharing "R practices #ith other +ocations

)ntroduction o* ne# "R initiatives

(H"EA(S


95/110

Surrounded by sic& industries

%losures o* about E=V o* surrounding industries

+abour cases

C)2


96/110

(eoreticall!$!he employees al#ays have high epectations regarding their

compensation pac&ages. As soon as they *eel dissatis*ied #ith the current

employer or the job$ they s#itch over to the net job. ,mployee are totallay

di**erent. ,mployee Retention involves ta&ing measures to encourage

employees to remain in the organi0ation *or the maimum period o* time.

C) "ecommen4ation68 S##e6tion6

@ "ecommen4ation,

3n the basis o* the research #or& there are several points$ #hich came asa conclusion and according to that there are some points #hich are pointed out

as recommendations$ and i* company *ollo#s these points then company can

e**ectively recruit and select the candidates and increase the retention o* the

employees. !hese points are given as *ollo#s:?

. !he %ompany at present is mostly utili0ing the source o* recruitment by

employee re*errals and placement agencies. )* the company goes *or other

e**ective sources o* retention li&e job rotation etc.$ it can get some e**ective

and e**icient candidates *or retention.


97/110

D. should go *or some ne# technical and creative tests as a compulsory test

apart *rom the aptitude and trade test *or the employees.

E. At present the probation period in 1ijay Sol&e' Lt4$ A+/AR is up to si

months. )t is advisable *or the company that people at the di**erent post

should be given di**erent probation period.

2 S##e6tion6,

/hen as&ed about #hy employees leave$ lo# salary comes out to be a common

ecuse. "o#ever$ research has sho#n that people join companies$ but leave

because o* #hat their managers do or dont do. )t is seen that managers #ho

respect and value employees competency$ pay attention to their aspirations$

assure challenging #or&$ value the 9uality o* #or& li*e and provided chances *or

learning have loyal and engaged employees. !here*ore$ managers and team

leaders play an active and vital role in employee retention

Managers and team leaders can reduce the attrition levels considerably by

creating a motivating team culture and improving the relationships #ith team

members. !his can be done in a *ollo#ing #ay:


98/110

implementing management decisions$ they also need to educate their

managers about the realities on the ground. /hen agents see the team

leader standing up *or them$ they #ill have one more reason to stay in the

team.

/ro&i4in# coacin#: ,veryone #ants to be success*ul in his or her

current job. "o#ever$ not everyone &no#s ho#. !here*ore$ one o* the &ey

responsibilities #ill be providing coaching that is intended to improve the

per*ormance o* employees. Managers o*ten tend to escape this role by just

coaching their employees. "o#ever$ coaching is *ollo#ed by monitoring

per*ormance and providing *eedbac& on the same.

Dele#ation,Many team leaders and managers *eel that they are the only

people #ho can do a particular tas& or job. !here*ore$ they do not delegate

their jobs as much as they should. Celegation is a great #ay to develop

competencies.

E'tra "e6on6i>ilit!,Giving etra responsibility to employees is another

#ay to get them engaged #ith the company. "o#ever$ just giving the etra

responsibility does not help. !he manager must spend good time teaching the

employees o* ho# to manage responsibilities given to them so that they dont

*eel over burdened.

oc6 on ;tre career:,mployees are al#ays concerned about their*uture career.


99/110

C). Aen4i'

Anneure

;uestionnaire

Gender: MH5

7ame.

Cepartment 7ame..

;ues. /hat is RetentionJ

'A( Sustain

'B( Gro#th

'%( Relationship

'C( All o* above

;ues.< /hy did you join this organi0ationJ

'A( %ulture

'B( %ompany Reputation

'%( /or&ing ,nvironment


100/110

'C( Pay Scale

',( Any 3ther Reason

;ues. /hat are the employee involvement activityJ

'A( %5! '%ross 5unctional !eam(

'B( R)S, ZRe#ard *or individual service ecellence ')ntegrated([

'%( Suggestion Scheme

'C( All o* Above

',( 7one o* these

;ues. /hy are employee living this organi0ationJ

'A( 3pportunity Gro#th

'B( /or&ing ,nvironment

'%( 7e# 2ob 3**er

'C( Appreciation

',( All o* above

;ues.D Are you Satis*ied #ith Cevelopment Activities in this 3rgani0ationJ

'A( Yes

'B( 7o

;ues.E /hat is Attraction Point to 2oin this %ompanyJ


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'A( %ompensation

'B( Brand 7ame

'%( 5acility

'C(%areer Gro#th

',( +eading !echnologie

'5( All o* Above

;ues.> /hat is the retention rate in this organi0ationJ

'A(+o#

'B( 1ery +o#

'%( "igh'C( 1ery "igh

;ues.F /hat is the Attrition rate in this organi0ationJ

'A(+o#

'B(1ery +o#

'%("igh

'C(1ery "igh

;ues.@ Are you %om*ortable #ith the company policiesJ

'A( Yes

'B( 7o

;ues= /hat is the method o* evaluating per*ormance in the companyJ

'A( E=

'B( @=

'%( F=


102/110

'C( All o* above

',( 7one o* these

;ues. Basically ho# long is the measurement period o* retention in this

organi0ationJ

'A(/ee&ly

'B( Monthly

'%( Yearly

'C( ;uaterly

;ues.< /hich is the Area is measured *or employee per*ormance in companyJ

'A( 2ob analysis

'B( Achievement

'%( ,mployee loyalty'C( %ommunication s&ill

',( All o* above

;ues. )s there any training policy or #eather any development policyJ

'A(Yes

'B( 7o

;ues. "o# is the !raining policy in this the organi0ationJ

'A( Good

'B( 1ery good


103/110

'%( %an be better

'C( ,cellent

;ues.D /hich type o* training are conducted in this organi0ationJ

'A( !echnical

'B( Behavioral

'%( 3n job training

'C( 3** the job training

',( All o* above

;ues.E "o# many employee are satis*y #ith their job in this organi0ation

')n the Year (J

'A( = to "o# many employees are leaving the organi0ationJ

'A( = to DV

'B( D to =V

'%( = to DV

'C( D to


104/110

;ues.F "o# do the company motivate the employeeJ

'A( Re#ard

'B( Promotion policy

'%( !raining

'C( 2ob Rotation


;ues.@ /hich is the area o* improvement in this organi0ationJ

'A( /or&ing environment

'B( Pay Scale

'%( 2ob Satis*action

'C( Reduced absenteeism


;ues.


105/110

;ues.


106/110

',( Monitory

;ues.


107/110

C)C Bi>lio#ra!

) got all the in*ormation regarding the study o* Recruitment - Selection #ith

#ritten proo*s *rom the *ollo#ing re*erences.

Boo6,

"6MA7 R,S36R%, A7C P,RS377,+ MA7AG,M,7! by

K.Aswathappa

"6MA7 R,S36R%, MA7AG,M,7! by Gary Dessler

"RM - )R by P Subba Rao

-anal6,

"RC MA76A+

+e>6ite6,

###.google.com

###.hr*actor.com

###.hrguide.com

###.hrtrends.com

###.asho&leyland.com
http://www.hrfactor.com/http://www.hrguide.com/http://www.hrtrends.com/http://www.ashokleyland.com/http://www.hrfactor.com/http://www.hrguide.com/http://www.hrtrends.com/http://www.ashokleyland.com/


108/110

C)S!no6i6,?

NA-E O (HE /"O:E


109/110

"ESEA"


110/110

vijay solvex project "retention strategy"

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