1. How is your relationship with the Reporting manager? A) Excellent B) Very good C) Good D) Poor E) Worst 2.

Do you have Rewards and recognition on your achievements? Yes () No () 3. Is it important that appreciation for your work by your coworkers and supervisors? Yes ( ) No ( ) 4. Are the Facilities provided by the organization good (cafeteria, transport and other corporate services)? Yes ( ) No ( ) 5. How do you rate the infrastructure and equipment provided? A) Excellent B) Very good C) Good D) Poor E) Worst Ans: 6. Does the retention bonus have any impact on the motivation levels and performances of an associate? Yes ( ) No ( ) 7. Does Fun at work have any impact on Motivation levels of employees? Yes ( ) No ( ) 8. Do you have an opportunity to share your ideas at work? Yes ( ) No ( ) 9. Do you have any training programs conducted? Yes ( ) No ( ) Mention the training program attended. 10. If you want to leave the organization, what would be the reason? a. Personal Reasons ( ) b. Team fitment ( ) c. Career opportunity ( ) d. Others ( ) 11. Do you feel that the company provides opportunities for your growth and development? Yes ( )

No ( ) 12. Did any company policies or procedures (or any other obstacles) make your job more difficult? Yes ( ) No ( ) 13. Mention the reasons for attrition? 14. Mention the reasons to retain you in the organization? 15. Mention the reasons, how can an organization have a maximum utilization of the potential skills of their resource? 16. Mention the training programs required Reason for leaving the job? Explanation What could be the company have done differently that could have caused you to stay with the company? If No, Then ask for that How u compare your job with your co-workers?? How u describe your relationship with your immediate manager?

Questions for an exit interview Tell me about how you've come to decide to leave? What is your main reason for leaving? What are the other reasons for your leaving? Why is this important, or so significant for you? Within the (particular reason to leave) what was it that concerned you particularly? What could have been done early on to prevent the situation developing/provide a basis for you to stay with us? How would you have preferred the situation(s) to be handled? What opportunities can you see might have existed for the situation/problems to be averted/dealt with satisfactorily? What can you say about the processes and procedures or systems that have contributed to the problem(s)/your decision to leave? What specific suggestions would you have for how the organization could manage this situation/these issues better in future? How do you feel about the organization? What has been good/enjoyable/satisfying for you in your time with us? What has been frustrating/difficult/upsetting to you in your time with us?

 What could you have done better or more for us had we given you the opportunity? What extra responsibility would you have welcomed that you were not given? How could the organization have enabled you to make fuller use of your capabilities and potential? What training would you have liked or needed that you did not get, and what effect would this have had? How well do think your training and development needs were assessed and met? What training and development that you had did you find most helpful and enjoyable? What can you say about communications within the organization/your department? What improvements do you think can be made to customer service and relations? How would you describe the culture or 'feel' of the organization? What are your retention strategies? A) Reward & Recognition

What is your company success rate in retaining employees? A) Its good, 80%

What are the difficulties you face to retain your employees? A) High salaries of competitors, unhealthy competition

How does u motivate your employees? A) With Concept better growth, personal development through training Who is the one who has the responsibility to retain the employee? IS that the Hr manager or some other? A) Both HR and concerned Business Head

What is your company doing to improve retention? A) Career Development, Reward & Recognition,

2. Does your organization make any retention efforts? _____________________ 3. Why do you work with this organization? _______________________________________________________________ ______________________________ ___________________________________________ ________ 4. Why would you consider leaving this organization? _______________________________________________________________ ______________________________ ___________________________________________ ________ 5. Has anyone left this organization in the past six months? ______________ If yes what was their reason for leaving? ___________________________________________________________________ __________________________ _______________________________________________ ____ 6. Did they discuss any reasons that would have made them stay? ______________________________________________________________________ _______________________ __________________________________________________ _ 7. Can you point out any retention problems in your agency? ___________________________________________________ 8. Which jobs in this organization are the hardest for people to keep? _____________________________________________________________________ ________________________ _________________________________________________ __ 9. Considering the expectations you had as you joined this organizations, do you think that they have beensatisfactorily? ____________________ Explain how/why ___________________________________________________________________ __________________________ _______________________________________________ ____ 10. Are the reasons why you want to stay in this organization different from the reasons you had for joining thisorganization? ____________________________ 11. In your opinion what type of organizational culture is most appealing to employees in this organization? _______________________________________________________________ ______________________________ ___________________________________________ ________ 12. In your opinion what types of benefits are most important to employees in your organization? _______________________________________________________________ ______________________________ _______________________________________ 13. What types of skills and education development are most attractive to employees in this organization 14. 3.Are you satisfied with the current job (0) Not at all (1) Very less (2) Moderately satisfied (3)Farley satisfied (4)Very highly satisfied 15. 4. Are you satisfied with the work environment? a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied e) Highly dissatisfied

Years of experience: a) Less than 1 year b) 1-2 year c) 2-3 year d) 3-4 year e) Above 4 year 3. Position category: a) Middle level b) Managerial level 4. Are you satisfied with the work environment? a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied e) Highly dissatisfied 5. Are you satisfied with the incentive provided by the organization? a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied e) Highly dissatisfied 6. Management is really interested in motivating people a) Strongly agree b) Agree c) Neutral d) Disagree e)Strongly disagre 7. Give your opinion about the opportunities for growth and promotion a) Highly satisfied b) Satisfied c) Dissatisfied d) Highly dissatisfied 8. Employees are satisfied with career development at the organization a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree 9. Are you satisfied with the companys welfare policies towards the employee? a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied 10. Rank the following factors which motivate you the most a) Increase in salary b) Promotion c) Leave d) Power 11. Stress due to overwork a) Yes b) No 12. What did you like more about the company? a) Compensation b) Rewards Recognition c) Job security d) Relationship 13. Does the Organization provide medical facilities as and when needed? a) Yes b) No 14. Are you happy with the performance appraisal system? a) Yes b) No 15. Are you able to balance work life and personal life? a) Yes b) No 16. How effective is the Grievance Handling system? a) Highly efficient b) Efficient c) Inefficient d) Highly inefficient e) neither efficient nor inefficient 17. Whether the company welcomes new ideas and innovations? a) Yes b) No 18. Your level of satisfaction regarding superior subordinate relationship a) Highly satisfied b) Satisfied c) Neutral d) Dissatisfied objectives To study the problems in the organization. To study, why people are leaving? Setting goals for retention strategies. Draw out measures to reduce employee retention. 2 STATEMENT OF THE PROBLEM: Retention is the major concerning issue in many of the organizations today.

Employee Retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing a lot of problems in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more important than hiring. There is no dearth of opportunities for a talented person. There are many organizations which are looking for such employees. If a person is not satisfied by the job hes doing, he may switch over to some other more suitable job. In todays environment it becomes very important for organizations to retain their employees. The top organizations are on the top because they value their employees and they know how to keep them glued to the organization. Employees stay and leave organizations for some reasons. Thus it is important to know the reasons to reduce attrition in the organisation.

2.3 SCOPE OF STUDY:

The project limits to only 1 branch of MetLife in Bangalore and the project was accomplished with the complete support of all the printed materials required and the information needed and a supportive staff.

2.4 OBJECTIVES OF THE STUDY:

To study retention strategies implemented in MetLife To analyze employee perception on retention strategies To study factors which help in employee retention To study the drawback of current strategy used To develop new retention strategies

2.5 OPERTIONAL DEFINATION OF CONCEPTS: i. Compensation Compensation constitutes the largest part of the employee retention process. The employees always have high expectations regarding their compensation packages. Compensation packages vary from industry to industry. So an attractive compensation package plays a critical role in retaining the employees.

ii. Attrition rate: Attrition rate/ churn rate is a measure of the number of individuals or items moving into or out of a collection over a specific period. It is a reduction in the number of employees through retirement, resignation or death. Thus, we can see that attrition rate and retention rate are very closely related and loosely speaking attrition rate is inverse of retention rate. 2.6 RESEARCH METHODOLOGY:

RESEARCH DESIGN: An exploratory research design is used for the project SAMPLE SIZE SAMPLE DESIGN : A Sample design is a definite plan for obtaining a sample from a given population. It is the procedure used by the researcher in selecting items for the sample. Thus Stratified Random Sampling technique is used. : 50 respondents

2.7 TECHNIQUES OF DATA COLLECTION:

PRIMARY SOURCE: Personal discussions with HR manager Questionnaire

SECONDARY SOURCE: Journals

Books Websites (given in the annexure)

2.8 LIMITATIONS:

One constraint has been regarding the cost, as study involves the collection of primary and secondary data. Therefore, the cost incurred was much more. Another constraint has been geographical area, which is confined only to MetLife (M.G Road Branch.) Normally employees hesitate to disclose the information.

The findings include the following: High salaries and incentives is the primary tool for employee retention. Most of the companies attract the employees by paying them high salaries and other incentives time to time. Monetary packages are able to attract and retain talent, however, in long run it becomes limiting for the organization to pay huge cash. The best and foremost HR practice to retain employees is proper and tangible recognition

and appreciation to employees for their individual performance. The tools like employer of the year/month, best performer/trainee of the project etc are those appreciations that not only retain employees but also encourage them for better performance.

For employee satisfaction, the most important aspect to take care by the organization is

that the job profiles offered should match with individual capabilities and aspirations. This makes the employee feel satisfied and glad in his job. Better work culture is also very important where the relationship between employee and

employer is such that individual problems and conflicts are properly addressed with time.

Excellent career growth should be provided to the employees to move on the vertical

ladder of organizational hierarchy. The most common reason for leaving the job is the expectation of higher level of responsibility and position. Work-life balance initiatives are important. Innovative and practical employee policies

pertaining to flexible working hours and schemes, granting compassionate and urgency leave, providing healthcare for self, family and dependants, etc. are important for most people. Worklife balance policies would have a positive impact on retaining skilled employees, as well as on attracting high-caliber recruits.

Organized training, counseling and development programmes for employees also used to

motivate them for their work. Best performers should be encouraged to share their experiences with others and guide others. The emphasis is to create the desire to learn, enjoy and be passionate about the work they do.

CONCLUSION:

As employees are the bases for company so retention of employees is a major focus for HR department. The management should identify the important factors that affect retention and should take necessary measures to improve these. Also, the management should take appropriate measure to identify the reasons of employee voluntarily leave. It is only the employees that implement and give tangibility to the corporate mission. In other words if it is the highest rung in the corporate hierarchy that has ideas, it is the employees rung that has the chisel to bring the vision to life. In the best of worlds, employees would love their jobs. Like their co-workers, work hard for their employers, get paid well for their work, have ample chances of advancement and flexible schedules so they could attend to personal or family needs when necessary. And never leave. But then theres the real world. And in the real world, employees, do, leave, either because they want more money, hate the working conditions, hate their co-workers, want a change, or because their spouse gets a dream job in another state. Unlike inanimate products and systems that subject themselves to fine tuning without any reaction, employees would not subject themselves to any measure taken without reaction and analysis. Hence managing human resources, particularly retaining them, is an art that calls for special skills and strategies. Employee survey and exit interviews can be used for assessing the reasons of employee voluntarily leave. HR interventions such as improving selection process, effective orientation and training, better employee relation, better career development programs and planning etc should be used to improve employee retention.

SUGGESTIONS: 1. Following steps/ efforts should organization take to retain its employees: o Lucrative opportunities

o o o o

Implement good employment practices Maintain healthy organizational climate Proper training should be provided to employees according to their skills Proper salary structure should be there.

2. Need to restructure companys policy and follow certain process to overcome problems. Questionnaire:

Name Designation

: :

Q.1) For how long have you been working in MetLife? a) 3-4 years b) 2-3 years c) 1-2 years d) < 1 year

Q.2) Are you satisfied with your current job? a) Yes b) No

Q.3) Do you think MetLife does consider retention issues seriously? a) Yes b) No Q.4)Is MetLife flexible when it comes to modifying its strategies? a) Flexible

b) Not very flexible c) Rigid

Q.5) Do you have the authority to take part in the formulation of retention strategies? a) Yes b) No

Q.6) Rate the factors in a scale of (1-4) for you to retain in MetLife(lowest to highest) a) Flexibility in job timing b) Pay package c) Growth opportunities d) Relationship with the peers and the managers

Q.7) Do you think the current strategies used with respect to Retention are motivating the employees to stay in the organization? a) Yes b) No If No, specify which strategy..................................................................... Q.8) Do you feel there needs to be a change in the retention Policies undertaken? a) Yes b) No Questionnaires

1) Are you happy with the Recruitment process? a) Yes

b) No 2) How do you feel about interview panel? a) Excellent b) Good c) Satisfactory d) Poor 3) Did the Wanger & Watson meet your expectations? a) Yes b) No 4) Are you happy with the salary what you offered from the company? a) Yes b) No 5) Did Wanger & Watson Managing commitment which is given to you at the time of interview? a) Yes b) No 6) How do you come to know about openings in Wanger & Watson? a) Friends b) Internet c) News Paper d) Others

7) Do you want to refer more friends to Wanger & Watson? a) Yes b) No 8) Did you have the right Designations? a) Yes b) No 9) What should be the companys main source of recruitment?

a) Employment Bureau b) News Paper ads c) Direct Recruitment d) Placement agency e) Others 10) What should be the best recruitment sources according to your preference? a) Internal Recruitment b) External Recruitment c) Both 11) Did you fully know about the company policies before joined in this company? a) Yes b) No 12) Did you under gone any Written Test during recruitment? a) Yes b) No 13) How do you think about Recruitment and selection procedure in your company? a) Satisfactory b) Unsatisfactory 14) What are your Guidelines to Wanger & Watson Recruitments?

15) How about HR Feed back in Saptha?

Your views on RETENTION

Please list down the 3 main reasons of your employee for leaving the organisation. Better salary Better Job Role/ Higher Position

Good Brand Image/ Culture of organization Please list down the 3 main reasons of your employees to stay with the organisation. Increment in salary Increase in Position/ Promotion Challenging job/ Learning opportunity Your employee has left your company but after some period, now he wants to rejoin your organisation, do your management allow him to join again? No, once he left then he can leave again

Which one is your best policy according to you that help you to retain people?

Better career Growth Opportunity(Timely job promotions) Well designed increment system ( Quarterly, half yearly or annually) Good and professional work environment

Do you think retention is tougher now a day? Yes, now people not only leave for salary or position but work environment and bossDoes turnover affect the business growth? How? Yes, Recruitment cost is high and also the employee leaving the organization also can adversely affect the image of the company in the market by saying bad words about the organization What is standard attrition rate according to you?

subordinate relationship also play a big role in employees leaving or staying situation

It must be kept minimum by employee engagement activities and thus creating a positive work environment

Your Comments: