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A PROJECT REPORT ON

“A STUDY OF RETENTION STRATEGY FOR EMPLOYEES AT G4S


SECURITY SERVICES INDIA PVT LTD”

UNDER SUPERVISION OF
AANCHAL GARG

SUBMITTED BY
NAME: AKHILESH
ROLL NUMBER:
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS
FOR THE AWARD OF THE DEGREE
OF
MBA( HUMAN RESOURCE)

OCTOBER, 2018

1|Page
DECLARATION

I hereby declare that the Project entitled “A STUDY OF RETENTION


STRATEGY FOR EMPLOYEES AT G4S SECURITY SERVICES INDIA
PVT LTD” developed and submitted by me for the partial fulfillment of the award
of the degree of “MBA (Master of Business Administration)” is my original
work and the project has not formed the basis for award of any other degree,
diploma, associateship, fellowship or any other similar titles or prizes.

(AKHILESH)
Registration No.
Place: New Delhi
Date:

2
BONAFIDE CERTIFICATE

This is to certify that the dissertation entitled “A STUDY OF RETENTION


STRATEGY FOR EMPLOYEES AT G4S SECURITY SERVICES INDIA
PVT LTD” is the bonafide research work carried out by Akhilesh -student of
MBA (Masters of Business Administration) -----th Semester, of this institute,
during the session (---------), in partial fulfillment of the requirements for the award
of the Degree of MBA (Masters of Business Administration). The above said
project is approved and is acceptable in quality and form.

SIGNATURE
AANCHAL GARG
Registration Number:

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ACKNOWLEDGEMENT
This report has been made possible due to invaluable support of a number of
people to whom I owe my heartfelt gratitude and without whose help, I may not
have been able to complete this report. With regard to my Project with on “A
STUDY OF RETENTION STRATEGY FOR EMPLOYEES AT G4S
SECURITY SERVICES INDIA PVT LTD”, I would like to thank each and
every one who offered help, guidelines, and support whenever required.
I am extremely grateful to my Institute guide, Ms. Aanchal Garg and all the
faculty member of my college for their valuable suggestions and able guidance.
I acknowledge the help and cooperation received from all the faculty members of -
------------>. Several colleagues and students have contributed directly and
indirectly to the contents this software, as they had given me numerous ideas. Their
criticism gave me the much-needed hints about the areas that needed elaboration
and amendments and also to present them with greater clarity.
Finally, I wish to express my sincere thanks to all my family members, especially
my Parents for their constant moral support and Encouragement. I would Welcome
Constructive Suggestions to improve this software, which can be implemented in
my further attempts.

Thanking you!
<NAME
ROLL NO:>

TABLE OF CONTENTS

4
CH. PAGE
TOPIC
NO. NO.
ABSTRACT 10-10
EXECUTIVE SUMMARY 11-12
INTRODUCTION
1.1. ABOUT EMPLOYEE RETENTION
1.2. HISTORY OF RETENTION
1.3. REASONS TO RESIGN
01
1.4. 10 FACTORS THAT AFFECT EMPLOYEE RETENTION 13-22
1.5. REASON FOR EMPLOYEE TO COME TO THE ORGANISATION?
1.6. REASONS FOR EMPLOYEE TO STAY WITH THE ORGANISATION?
1.7. EMPLOYEE RECOGNITION INCREASES RETENTION
1.8. STUDY SUGGESTS EMPLOYEES LEAVE BOSSES, NOT JOBS
THEORITICAL ASPECTS OF THE STUDY
2.1. RETENTION MANAGEMENT
2.2. EMPLOYEE RETENTION STRATEGIES
2.3. LOW LEVEL EMPLOYEE RETENTION STRATEGIES
2.4. MEDIUM LEVEL STRATEGIES FOR EMPLOYEE RETENTION
02 2.5. HIGH LEVEL STRATEGIES
2.6. RETENTION SUCCESS MANTRA 22-36
2.7. MANAGING EMPLOYEE RETENTION
2.8. RETENTION BONUS
2.9. HIRE RIGHT TALENT
2.10. MANAGER ROLE IN RETENTION
2.11. HOW TO IMPROVE EMPLOYEE RETENTION
2.15. GUIDELINE FOR REWARDS AND RECOGNITION
PROJECT DETAILS
3.1. TITLE OF THE PROJECT
03 37-41
3.2. OBJECTIVE OF THE STUDY
3.3. IMPORTANCE OF THE STUDY

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3.4. NEED FOR THE STUDY
3.5. SCOPE OF THE STUDY
3.6. STATEMENT OF THE PROBLEM
04 LITERARURE REVIEW 42-44
RESEARCH METHODOLOGY
5.1. SCHEME OF RESEARCH
5.2. RESEARCH DESIGN
5.3. SAMPLING TECHNIQUE
05 45-48
5.4. SAMPLE SIZE
5.5. DATA COLLECTION METHOD
5.6. STATISTICAL TOOLS USED
5.7. DATA ANALYSIS & INTERPRETATION
06 THE 3 R’S OF EMPLOYEE RETENTION 49-53
KEI’S EMPLOYEE RETENTION WHEEL
7.1. DON'T WASTE YOUR MONEY ON THINGS THAT DON'T
MAKE A DIFFERENCE
07 54-58
7.2. USING THE WHEEL TO IMPROVE EMPLOYEE RETENTION
7.3. THE CENTER OF KEI'S EMPLOYEE RETENTION WHEEL:
EIGHT FACTORS
MYTHS ABOUT EMPLOYEE MORALE PREVENT
08 59-63
COMPANIES FROM ACHIEVING RETENTION SUCCESS
DATA ANANLYSIS AND INTERPRETATION
09 9.1. PERCENTAGE ANALYSIS METHOD 64-81
9.2. STATISTICAL TOOLS
10 FINDINGS 82-85
11 SUGGESTIONS AND RECOMMENDATIONS 86-88
12 CONCLUSION 89-90
13.1. LIMITATIONS OF THE STUDY
13 91-92
13.2. SCOPE FOR FURTHER RESEARCH
14 ANNEXURE 93-97

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 REFERENCES
 QUESTIONNAIRES

LIST OF TABLES
SL DESCRIPTION OF TABLES P. NO
CLASSIFICATION OF EMPLOYEES BASED ON THEIR
01 65
EXPERIENCE
02 POSITION CATEGORY 66
03 SATISFACTION TOWARDS THE WORK ENVIRONMENT 66
04 OPINION ABOUT THE INCENTIVES PROVIDED 67
05 THE MANAGEMENT’S INTEREST IN MOTIVATING EMPLOYEES 68
06 OPINION ABOUT THE OPPORTUNITIES FOR PROMOTION 69
07 SATISFACTION REGARDING THE CAREER DEVELOPMENT 70
08 RESPONSE ABOUT THE WELFARE POLICIES PROVIDED 71
09 FACTORS MOTIVATING THE EMPLOYEES 72
10 STRESS DUE TO OVERWORK 73
11 WHAT DID YOU LIKE MORE ABOUT THE COMPANY 73
12 MEDICAL FACILITIES PROVIDED IN THE ORGANISATION 74
13 RESPONSE TOWARDS THE PERFORMANCE APPRAISAL SYSTEM 75
14 OPINION ABOUT BALANCING WORK LIFE AND PERSONAL LIFE 75
15 OPINION ABOUT GREIVANCE HANDLING SYSTEM 76
16 COMPANY WELCOMES NEW IDEAS AND INNOVATION 77
17 OPINION ABOUT SUPERIOR SUBORDINATE RELATIONSHIP 77
18 SATISFACTION WITH THE WORK ENVIRONMENT 79
19 CAREER DEVELOPMENT IN THE ORGANISATION 80
20 FACTORS MOTIVATING THE EMPLOYEES 81
21 GREIVANCE HANDLING SYSTEM IN THE ORGANISATION 81

LIST OF CHARTS

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SL DESCRIPTION OF CHARTS P. NO

CLASSIFICATION OF EMPLOYEES BASED ON THEIR


01 65
EXPERIENCE
02 POSITION CATEGORY 66
03 SATISFACTION TOWARDS THE WORK ENVIRONMENT 67
04 OPINION ABOUT THE INCENTIVES PROVIDED 68
05 THE MANAGEMENT’S INTEREST IN MOTIVATING EMPLOYEES 69
06 OPINION ABOUT THE OPPORTUNITIES FOR PROMOTION 70
07 SATISFACTION REGARDING THE CAREER DEVELOPMENT 71
08 RESPONSE ABOUT THE WELFARE POLICIES PROVIDED 72
09 FACTORS MOTIVATING THE EMPLOYEES 72
10 STRESS DUE TO OVERWORK 73
11 WHAT DID YOU LIKE MORE ABOUT THE COMPANY 74
12 MEDICAL FACILITIES PROVIDED IN THE ORGANISATION 74
13 RESPONSE TOWARDS THE PERFORMANCE APPRAISAL SYSTEM 75
14 OPINION ABOUT BALANCING WORK LIFE AND PERSONAL LIFE 76
15 OPINION ABOUT GREIVANCE HANDLING SYSTEM 76
16 COMPANY WELCOMES NEW IDEAS AND INNOVATION 77
17 OPINION ABOUT SUPERIOR SUBORDINATE RELATIONSHIP 78

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ABSTRACT

Employee retention is a process in which the employees are encouraged to remain with the
organization for the maximum period of time. Employee retention is beneficial for the
organization as well as the employee. 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.

Most employees feel that they are worth more than they are actually paid. There is a natural
disparity between what people think they should be paid and what organizations spend in
compensation. When the difference becomes too great and another opportunity occurs, turnover
can result. Pay is defined as the wages, salary, or compensation given to an employee in
exchange for services the employee performs for the organization. Pay is more than "dollars and
cents;" it also acknowledges the worth and value of the human contribution. What people are
paid has been shown to have a clear, reliable impact on turnover in numerous studies.

Employees comprise the most vital assets of the company. In a work place where employees are
not able to use their full potential and not heard and valued, they are likely to leave because of
stress and frustration. In a transparent environment while employees get a sense of achievement
and belongingness from a healthy work environment, the company is benefited with a stronger,
reliable work-force harboring bright new ideas for its growth Blog Online and Earn Money.

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EXECUTIVE SUMMARY

In today’s scenario retaining the employees in the organization is becoming a challengeable job.
Hiring knowledgeable people for the job is essential for an employer. But retention is even more
important than hiring. The employees are valuable assets to the organization so it is the
responsibility for the organization to develop the strategies in order to retain the employees.
Employee attrition may be due to various factors such as lack of growth opportunities,
dissatisfaction with the working environment, lower pay etc... 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 organization to retain their best employees. The organization should
satisfy the needs and wants of the employees working in the organization which helps in
reducing employee turnover. Employee retention greatly constitute for the growth of the
organization.

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. 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.

Most employees feel that they are worth more than they are actually paid. There is a natural
disparity between what people think they should be paid and what organizations spend in
compensation. When the difference becomes too great and another opportunity occurs, turnover
can result. Pay is defined as the wages, salary, or compensation given to an employee in
exchange for services the employee performs for the organization. Pay is more than "dollars and
cents;" it also acknowledges the worth and value of the human contribution. What people are
paid has been shown to have a clear, reliable impact on turnover in numerous studies. Employees
comprise the most vital assets of the company. In a work place where employees are not able to

10
use their full potential and not heard and valued, they are likely to leave because of stress and
frustration. In a transparent environment while employees get a sense of achievement and
belongingness from a healthy work environment, the company is benefited with a stronger,
reliable work-force harboring bright new ideas for its growth

The purpose of the research is to test the applicability of three strategies which could solve the
problem of employee retention in the companies, especially in Small and medium scale industry
in Bangalore. To find out this the researcher has approached managers of Small and Medium
Scale Software companies and collected the data in a questionnaire. Three categories of
employees have been identified.
1. Satisfied employees
2. Indifferent employees
3. Dissatisfied

To find out the applicability of the first retention strategy, the researcher has classified number of
employees comes under the above three categories in to two other categories; the employees
who prefer position titles when they change the company and employees who prefer all other
benefits except position titles.

To find out the applicability of the second retention strategy, the same three categories have been
classified under the employees who prefer variable benefit structure and employees who do not
prefer variable benefit structure. A questionnaire survey has been conducted and classified the
respondents in to respective categories. Chi – square tests (test for independence) has been
conducted to find out the relationship between satisfaction, dissatisfaction and Indifference to the
perception of benefits of the employees.
Applicability of the third retention strategy has been tested by using an opinion survey conducted
by the researcher and verified the result using sign test ( a non parametric test). This report is not
exhaustive, one can innovate many new strategies to retain employees. These are just the basics
and if implemented in a proper way can give good results.

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CHAPTER - 01

INTRODUCTION

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INTRODUCTION

Definition: “Employee retention is a process in which the employees are encouraged to remain
in the organization for the maximum period of time.”
Employee Retention involves taking measures to encourage competent employee to remain in
the organization for the maximum period of time. Corporate are facing a lot problem 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 are many organizations
which are looking for such employees.

1.1. ABOUT EMPLOYEE RETENTION


Effective employee retention is a systematic effort by employers to create and foster an
environment that encourages current employees to remain employed by having policies and
practices in place that address their diverse needs.

Retention of key employees is critical to the long-term health and success of any organization. It
is a known fact that retaining your best employees ensures customer satisfaction, increased
product sales, satisfied colleagues and reporting staff, effective succession planning and deeply
imbedded organizational knowledge and learning. Employee retention matters as organizational
issues such as training time and investment; lost knowledge; insecure employees and a costly
candidate search are involved. Hence failing to retain a key employee is a costly proposition for

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an organization. Various estimates suggest that losing a middle manager in most organizations
costs up to five times of his salary.
Intelligent employers always realize the importance of retaining the best talent. Retaining talent
has never been so important in the Indian scenario; however, things have changed in recent
years. In prominent Indian metros at least, there is no dearth of opportunities for the best in the
business, or even for the second or the third best. Retention of key employees and treating
attrition troubles has never been so important to companies.
In fact, some reports suggest that attrition levels in IT companies are as high as 40 per cent. The
only way out is to develop appropriate retention strategies. Though BPO industry shoots ahead at
40 to 50 per cent a year, it is now losing 35 to 40 per cent of its 350,000-odd employees as well.
In India there are few sectors where the attrition level is much larger compared to other sectors?
For example: IT sector and BPO. Whereas there are organizations like Air India, HAL, DRDO,
BARC where the attrition is nearly 5% or less than that

1.2. HISTORY OF RETENTION


“Today’s workplace is not the workplace of a generation ago. Fifty years ago, most workers fit
into a similar mould: male, full-time, eight to five, blue collar, hourly wage workers who had
learned most of the skills on the job. Then, for those lucky enough to find a niche in a large
company, the expectation of continued employment and steady advancement made a
homogeneous pattern of work an ideal arrangement”
Drucker (1992) says, “All organizations now say routinely, ‘People are our greatest asset.’ Yet
few practice what they preach, let alone truly believe it. Most still believe, though perhaps not
consciously, what nineteenth-century employers believed: people need us more than we need
them”
During the past two decades, businesses have had to adopt the new realities of the Information
Age-while being expected to follow old ‘rules of the business game’ set in the long-gone
Industrial Age. The Industrial Age valued people as physical assets – bought and sold as
extensions of machines. Only organizations that transcend that approach have become leaders in
the Information Age. Organizations ill-equipped to manage change have had a tumultuous time
in transitioning from one age to the next.

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1990’s…By the mid 1990’s; however, doubts were emerging about whether downsizing was the
route to success that it was first thought”. “The downsizing environment in the 1980’s and early
1990’s further discouraged some companies from investing in Succession management. As a
result, many companies developed severe bench strength problems and are now facing a shortage
in top management successions”.
The demand for high-caliber managerial talent is growing. The late 1990’s through the year 2000
was a period of extraordinary economic growth as against a backdrop of sustained economic
growth, new economy companies proliferated creating millions of new jobs, and rewriting the
rules of recruiting and retention. New competitors vied daily with traditional companies for key
skills-not only technological savvy but also more traditional marketing, finance, and partnership
building expertise. Exacerbating this explosion in demand was a projected tightening of supply
in key segments of the labor pool. The result: an employment market where demand far
outweighed supply and where employers no longer ‘held all the cards.’
Due to a growing imbalance between an expanding demand for talent and the limited supply, we
reached the other extreme in the pendulums swing. Employees became ‘Free agents’ more
concerned, some would argue, with their own employability and personal gain than with long-
term job security - or their employer’s success”. To understand the importance of retention in
today’s world of the twenty-first century, it helps to look at the factors throughout the several
decades that have led to the issue of retaining employees. This will help to explain how the
problem evolved and the importance of retaining top talent for organizations.
Retention cannot be solved in the usual sense. There can be no silver bullet program or set of
programs that will bind employees to the organization in the presence of attractive opportunities
elsewhere. Employers can and should work hard to eliminate problems in the workplace that
might drive their valued employees into the arms of competitors. But, as noted earlier, most
people who quit do so to take jobs elsewhere, and dissatisfaction with current jobs drives
turnover only when other positions are available. The “pull” of alternatives is the major driver of
turnover, not just as the “push” of problems in the current workplace. The growing need to find
talent in the outside market will become the main driver of the retention problem, although
employers exacerbate the problem by focusing employee attention on the labour market and
giving them more information on other jobs, increasing the likelihood that they will leave.

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1.3. REASONS TO RESIGN
People tend to leave organizations for a variety of reasons. The most common amongst them are:

 Job Role mismatch – If there is a selection fault that has occurred – and if the job and
the person are not matching to each other, then it is likely the candidate will leave the
organization. The expectations problem could be on either side – the candidate as well as
the organization. This problem could also come from there being a mismatch in terms of
experience and qualifications of the person and the job analysis

 No proper growth opportunities – Some organizations do not grow at the rate they are
expected to grow – neither do they go downwards. People who like to function in
challenging environments and are more effective in companies which offer them rapid
growth opportunities, tend to leave companies which are slow-growing. Also, some
organizations do not enhance skills of people through good training programs. People
actually like to develop themselves and if they are not provided opportunities to do so,
they might leave.

 Lack of appreciation – If the feedback system of the organization does not allow
appreciation of work, or commendations, people tend to get frustrated with the company.
By nature, a human being wants to hear good things about himself. When he knows that
he is performing well, but does not get timely appreciation from the company, he looks
out for other opportunities.

 Lack of trust and support – If the culture of the company is not transparent, and the
management lacks trust in employees, and does not support its people, then people look
out for other opportunities. When people give their full efforts to a company, they expect
that the company should also trust them and support them wherever required. If that does
not happen, people start thinking negatively about the company.

 Work life imbalance – If the company does not encourage a positive balance between
personal and professional life of the employee, people will not be happy.

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 Personal issues – There could be personal issues for people leaving a company,
especially for women – relocation of spouse, childbirth, emergency in the family
requiring their presence at home etc. Once women move away from mainstream work-
life, it becomes difficult for them to come back into it.

 Salary & Compensation – The last but not the least – salary and compensation can be a
factor for leaving an organization – if a person thinks he is not paid enough by the
organization, he will look out for another job with higher salary

1.4. 10 FACTORS THAT AFFECT EMPLOYEE RETENTION


Most managers understand the importance of employee retention and its impact on the overall
health and vitality of an organization. The importance of retaining top organizational talent will
only increase over the coming years as the massive cohort of baby boomers begin to reach
retirement age making it easy for younger employees to find work.
In a previous article we identified some useful tips to help improve employee retention in your
organization. Given the importance of employee retention, we have compiled another list of 10
important factors that can affect employee retention in your organization.

1. Shorten the feedback loop – Do not wait for an annual performance evaluation to come
due to give feedback on how an employee is performing. Most team members enjoy
frequent feedback about how they are performing. Shortening the feedback loop will help
to keep performance levels high and will reinforce positive behavior.
2. Offer a competitive compensation package – Any team member wants to feel that he or
she is being paid appropriately and fairly for the work he or she does. It is also important
to research what the regional and national compensation averages are for that particular
position. You can be sure that if your compensation package is not competitive, team
members will find this out and look for employers who are willing to offer more
competitive compensation packages.
3. Work – Life Balance – Family is incredibly important to team members. When work
begins to put a significant strain on one's family no amount of money will keep an

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employee around. Stress the importance of balancing work and one's personal life. Small
gestures such as allowing a team member to take an extended lunch once a week to watch
his son's baseball game will likely be repaid with loyalty and extended employment with
an organization.
4. Beware of burnout – Staff adequately to reduce the amount of unwanted overtime a
team member must work. Some employees enjoy the extra money that accompanies
overtime hours, while others would rather spend their time with their families or doing
other activities they enjoy. Burnout can be a leading cause of turnover. Recognize the
warning signs and give employees a break when they need it.
5. Provide opportunities for growth – Offer opportunities for team members to acquire
new skills and knowledge useful to the organization. If an employee appears to be bored
or burned out in a current position offer to train this individual in another facet of the
organization where he or she would be a good fit. Nobody wants to feel stuck in their
position will no possibility for advancement or new opportunities.
6. The ability to provide input– Everybody has opinions and ideas, some are better than
others. However every team member wants to feel that their input is welcome and will be
taken seriously without ridicule or condescension. Some of the greatest ideas can come
from the most unlikely of places and people.
7. Management must take the time to get to know team members – It's not a big surprise
that one of the greatest complaints that employees express in exit interviews is a feeling
that management didn't know they existed. Nobody wants to feel like just another spoke
in a big wheel. The time spent by management getting to know team members is well
invested and can eliminate the headaches caused by having to continually hire and re-
train new employees.
8. Provide the tools and training an employee needs to succeed – Nothing can be more
frustrating to an employee than a lack of training or the proper tools to successfully
complete his or her duties. You wouldn't try to build a house without a hammer, so why
should an office job be any different? Providing a team member with the tools and
training she needs to be successful shows a commitment and investment in that employee
and will encourage the team member to stay with the organization.

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9. Make use of a team member's talents, skills, and abilities – All team members have
knowledge, skills, and abilities that aren't directly related to their job description, but are
still useful to an organization. Utilizing a team member's talents in areas other than their
current position will indicate to an employee that management appreciates and recognizes
all that an employee has to offer to the organization. This can also provide work variety
and helps to break up the everyday grind of work.
10. Never threaten a team member's job or income – While threatening an employee with
termination or demotion might seem like a surefire way to get the results needed from
him or her, doing so will likely cause the employee to leave the organization. Put yourself
in the employee's shoes, what is the first thing you would do if your job was threatened?
Odds are you would probably update your resume and start checking for open job
postings expecting the worst.

1.5. REASON FOR EMPLOYEE TO COME TO THE ORGANISATION?


 Pay,
 Location,
 Benefits,
 Advancement Possibilities,
 Job Security,
 Nature Of Work,
 Personal/Family Time.

1.6. REASONS FOR EMPLOYEE TO STAY WITH THE ORGANISATION?


 Confidence Factor-they believe in potential success/leadership strategies
 Emotional Factor- (Huge) contribution, recognition, appreciation
 Trust Factor- 2 ways- promises/commitments kept (strong link to loyalty)
 Fit Factor- Values/ethics are a good fit
 Listening Factor- Are they heard and valued?

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1.7. EMPLOYEE RECOGNITION INCREASES RETENTION
It seems that now more than ever employee recognition is limited at best in many organizations.
Unfortunately many managers don't understand the importance of recognizing a team member's
hard work and a job well done. Many might even ask why they should recognize their employees
when they are "just doing their job."
Recognizing an employee's performance reinforces positive behavior and encourages additional
positive behavior. When a business leader understands the power of recognizing his or her
employees the culture of an organization reacts to this recognition and moves in a positive
direction helping to retain more employees. Employee recognition can be as simple or as
extravagant as one desire. The following is a short list of simple ways to recognize team
members for a job well done and improve retention in your organization.
 A simple "thank you" or "nice job" given in regular frequency can significantly boost
team morale. Often times a team member will greatly appreciate the time you spent to
find him at his desk and deliver the message in person.
 Send a thank you card or e-card. Also photocopy the thank you and document the reason
for the recognition in the employee's file.
 Movie tickets, gift certificates, or an engraved gift are excellent rewards for an employee
who has excelled or put in the extra effort to make a project happen.
 Recognize the team member's contribution in front of members of management. This can
reduce the tendency for employees to feel that their supervisors take all the credit for
their hard work.
 Recognize loyalty and exceeding expectations. Mention the team member's hire
anniversary, large contract won, or surpassing of a sales goal in the company newsletter
or at a staff meeting.
 Know how to recognize your staff. Not all staff members want to be singled out at
a gathering of hundreds of fellow team members, while for others it would make their
week.

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1.8. STUDY SUGGESTS EMPLOYEES LEAVE BOSSES, NOT JOBS
Careful selection of employees and managers can have a huge impact on your employee
retention efforts and employee turnover costs at your organization. It has been said more than
once, and for good reason, that employees leave their bosses - not their jobs. A Florida State
University study scheduled for full release in the Fall 2007 issue of Leadership Quarterly
confirms this. The study shows that 40% of employees work for bad bosses based on survey
results. The reasons that employers score poorly are varied and many:
• 39% of workers said their supervisor failed to keep promises.
• 37% indicated their supervisor failed to give credit when due.
• 31% said their supervisor gave them the "silent treatment" during the past year.
• 27% report their supervisor made negative comments about them to other employees or
managers.
• 24% indicated their boss invaded their privacy.
• 23% said their supervisor blamed other to cover up personal mistakes or minimize
embarrassment.

So what does this all boil down to? The effects of having bad bosses in your organization can be
devastating. High turnover, poor employee morale, employee theft, diminished customer service,
substandard employee performance, lower production, and an organizational culture of fear and
mistrust can all be blamed in part on poor bosses and managers.

The costs of having poor managers and bosses can be incredible. Consider the cost of employee
turnover, which is different for all industries and positions, but has been roughly estimated at
$15,000 - $17,000 per employee in low to moderately skilled positions. Having a manager who
drives potentially valuable employees from your organization can have a huge impact on your
bottom line, and your customers.

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CHAPTER – 02

THEORITICAL ASPECT

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THEORITICAL ASPECT

2.1. RETENTION MANAGEMENT


Retention management is a highly topical subject and an important dilemma many organizations
might face in the future, if not facing it already. We believe that the leader plays a key role in
employee retention and retention management. The concept of retention management can both
have a narrow, and a broader significance. Both parts of its significance are generally included in
this thesis. The background of the thesis present a few articles that discuss issues that makes it
important for the organization, and the leaders, to work hard with retention management. The
research is based on the leaders in the Finnish case company Tradeka. Following key questions
are intended to be answered: What are the consequences between leaders actions and employees
retention? Which is the leader’s role when it comes to retaining employees?

2.2. EMPLOYEE RETENTION STRATEGIES


The basic practices which should be kept in mind in the employee retention strategies are:
1. Hire the right people in the first place.
2. Empower the employees: Give the employees the authority to get things done.
3. Make employees realize that they are the most valuable asset of the organization.
4. Have faith in them, trust and respect them.
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Create an environment where the employees want to work and have fun. These practices
can be categorized in 3 levels:
1. Low
2. Medium
3. High level.

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2.3. LOW LEVEL EMPLOYEE RETENTION STRATEGIES
1. Appreciating and recognizing a well done job
2. Personalized well done and thank-you cards from supervisors
3. Congratulations e-cards or cards sent to spouses/families
4. Voicemails or messages from top management
5. Periodic days off for good performance
6. Rewards ( gift, certificates, monetary and non monetary rewards)
7. Recognizing professional as well as personal significant events
8. Wedding gifts
9. Anniversary gifts.
10. New born baby gifts
11. Scholarships for employee’s children
12. Get well cards/flowers
13. Birthday cards, celebrations and gifts
14. Providing benefits
15. Home insurance plans
16. Legal insurance
17. Travel insurance
18. Disability programs
19. Providing perks: It includes coupons, discounts, rebates, etc
20. Discounts in cinema halls, museums, restaurants, etc.
21. Retail store discounts
22. Computer peripherals purchase discounts
23. Providing workplace conveniences
24. On-site ATM
25. On-site facilities for which cost is paid by employees
26. Laundry facility for bachelors
27. Shipping services
28. Assistance with tax calculations and submission of forms
29. Financial planning assistance
30. Casual dress policies

24
31. Facilities for expectant mothers
32. Parking
33. Parenting guide
34. Lactation rooms
35. Flexi timings and Fun at work
36. Celebrate birthdays, anniversaries, retirements, promotions, etc
37. Holiday parties and holiday gift certificates
38. Occasional parties like diwali, holi, dushera, etc
39. Organize get together for watching football, hockey, cricket matches
40. Organize picnics and trips for movies etc
41. Sports outings like cricket match etc
42. Indoor games and Occasional stress relievers
43. “Casual dress” day and “Green is the color” day
44. Handwriting analysis
45. Tattoo, mehandi, hair braiding stalls on weekends
46. Mini cricket in office
47. Ice cream Fridays and Holiday breakfast
48. Employee support in tough time or personal crisis
49. Personal loans for emergencies and Childcare and eldercare services
50. Employee Assistance Programs (Counseling sessions etc)
51. Emergency childcare services

2.4. MEDIUM LEVEL STRATEGIES FOR EMPLOYEE RETENTION


1. Appreciating and recognizing a well done job
2. Special bonus for successfully completing firm-sponsored certifications
3. Benefit programs for family support
4. Child adoption benefits
5. Flexible benefits
6. Dependents care assistance
7. Medical care reimbursement
8. Providing conveniences at workplace

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9. Gymnasiums
10. Athletic membership program
11. Providing training and development and personal growth opportunities
12. Sabbatical programs
13. Professional skills development
14. Individualized career guidance

2.5. HIGH LEVEL STRATEGIES


 Promoting Work/Life Effectiveness·
 Develop flexible schedules·
 Part-time schedules·
 Extended leaves of absence·
 Develop Support Services·
 On-site day care facility etc.
·
 Understand employee needs: This can be done through proper management style and
culture·
 Listen to the employee and show interest in ideas·
 Appreciate new ideas and reward risk-taking
 Show support for individual initiative
 Encourage creativity
 Encouraging professional training and development and/or personal growth
opportunities: It can be done through:·
 Mentoring programs
 Performance feedback programs
 Provide necessary tools to the employees to achieve their professional and personal goals
 Getting the most out of employee interests and talents
 Higher study opportunities for employees
 Vocational counselling
 Offer personalized career guidance to employees

26
 Provide an environment of trust: Communication is the most important and effective
way to develop trust.·
 Suggestion committees can be created
 Open door communication policy can be followed
 Regular feedbacks on organization’s goals and activities should be taken from the
employees by:
 Management communications
 Intranet and internet can be used as they provide 24X7 access to the information
Newsletters, notice boards, etc.
 Hire the right people from the beginning: Employee retention is not a process that
begins at the end. The process of retention begins right from the start of the recruitment
process. The new joinees should fit with the organization’s culture. The personality,
leadership characteristics of the candidate should be in sync with the culture of the hiring
organization. Referral bonus should be given to the employees for successful hires. They
are the best source of networking. Proper training should be given to the managers on
interview and management techniques. An internship program can be followed to recruit
the fresh graduates.

2.6. RETENTION SUCCESS MANTRA

1. Transparent Work Culture: In today’s fast paced business environments where employees
are constantly striving to achieve business goals under time restrictions; open minded and
transparent work culture plays a vital role in employee retention. These companies are severely
affected when employees check out, especially in the middle of some big company project or
venture. Although employees most often prefer to stay with the same company and use their time
and experience for personal growth and development, they leave mainly because of work related
stress and dissatisfactions. More and more companies have now realized the importance of a
healthy work culture and have a gamut of people management good practices for employees to
have that ideal fresh work-life. Closed doors work culture can serve as a deterrent to
communication and trust within employees which are potential causes for work- Related apathy
and frenzy.

27
.
2. Quality of Work: The success of any organization depends on how it attracts recruits,
motivates, and retains its workforce. Organizations need to be more flexible so that they develop
their talented workforce and gain their commitment. Thus, organizations are required to retain
employees by addressing their work life issues. The elements that are relevant to an individual’s
quality of work life include the task, the physical work environment, social environment within
the organization, administrative system and relationship between life on and off the job. The
basic objectives of a QWL program are improved working conditions for the Employee and
increase organizational effectiveness.

3. Occupational health care: The safe work environment provides the basis for the person to
enjoy working. The work should not pose a health hazard for the person. The employer and
employee, aware of their risks and rights, could achieve a lot in their mutually beneficial
dialogue.

4. Suitable working time: Organizations are offering flexible work options to their employees
wherein employees enjoy flexi-timings for dedicating their efforts at work. Appropriate salary:
The appropriate as well as attractive salary has always been an important factor in retaining
employees. Providing employees salary at par with the other counterparts of above that what
competitors are paying motivates them to stick with the company for long. QWL consists of
opportunities for active involvement in group working arrangements or problem solving that are
of mutual benefit to employees or employers, based on labor management cooperation. People
also conceive of QWL as a set of methods, such as autonomous work groups, job enrichment,
and high-involvement aimed at boosting the satisfaction and productivity of workers.

5. Supporting Employees: Organizations these days want to protect their biggest and most
valuable asset and they want to do this in a way that best suits their organizational culture.
Retaining employees is a difficult task. Providing support to the employees acts as a mantra for
retraining them. Employers can also support their employees by creating an environment of trust
and inculcating the organizational values into employees. The management can support

28
employees directly or indirectly. Directly, they provide support in terms of personal crises,
managing stress and personal development.

6. Manage employee turnover: Employee turnover affects the whole organization in terms of
productivity. Managing the turnover, hence, becomes an important task. A proactive approach
can be adopted to reduce attrition. Strategies should be framed in advance and implemented
when the times arrives. Turnover costs should also be taken into consideration while framing
these strategies.

7. Become employer of choice: What makes a company an employer of choice? Is the benefit it
offers or the compensation packages it gives away to its employees? Or is it measured in terms
of how they value their employees or in terms of customer satisfaction? Becoming an employer
of choice involves following a road map which tells where to go as a brand.

8. Engage the new recruits: The newly hired employees are said to be least engaged in the
organization. Keeping them engaged is an important task. The fresh talent should be utilized to
maximum before they start feeling bored in the organization.

9. Optimize employee engagement: An organization’s productivity is measured not in terms of


employee satisfaction but by employee engagement. Employees are said to be engaged when
they show a positive attitude toward the organization and express a commitment to remain with
the organization. Employee satisfaction also comes with high engagement levels. So,
organizations should aim to maximize the engagement among employees.

10. Coaching and mentoring: Employees whose work performance suffers due to poor
interpersonal relationships or because of lack of interpersonal skills should be provided proper
coaching by their superiors. Planed coaching sessions help an individual to work through issues,
maximize his potential and return to peak performance.

11. Feedback: Feedback acts as a channel of communication between the employee and his
manager. The amount of information employees receive about how well or how poorly they have

29
performed is what we call feedback. It is a dialog between a manager and an employee which
acts as a way of sharing information about the performance. It suggests where the employee
performance is effective and where performance has to improve.

12. Communication between Employee and Employer: Communication is a process in which


a message is conveyed to the receiver by the sender. The message may be or may not be in a
common format or language that both the sender and receiver understand. So there is a need to
encode and decode the message in the process. Encoding and decoding also helps in the security
of the message. The process of communication is incomplete without the feedback.
Communication is the solution to almost everything in this world. Same applies to employee
retention also. Straight-from-the-shoulder communication is what the employees need from their
employers. Employees look for organizations where communication and process are transparent.

13. Open door policy: Organizations should support open door policies so that the employees
feel comfortable and are able to express their doubts and feeling to their employers. So there
should be effective communication across the organization and this communication should be
two-way. Communication alone can lead to unimaginable heights of employee retention.

2.7. MANAGING EMPLOYEE RETENTION


The task of managing employees can be understood as a three stage process:

1. Identify cost of employee turnover: The organizations should start with identifying the
employee turnover rates within a particular time period and benchmark it with the competitor
organizations. This will help in assessing the whether the employee retention rates are healthy in
the company. Secondly, the cost of employee turnover can be calculated. According to a survey,
on an average, attrition costs companies 18 months’ salary for each manager or professional who
leaves, and 6 months’ pay for each hourly employee who leaves. This amounts to major
organizational and financial stress, considering that one out of every three employees plans to
leave his or her job in the next two years.

30
2. Understand why employees leave: Why employees leave often puzzles top management.
Exit interviews are an ideal way of recording and analyzing the factors that have led employees
to leave the organization. They allow an organization to understand the reasons for leaving and
underlying issues. However employees never provide appropriate response to the asked
questions. So an impartial person should be appointed with whom the employees feel
comfortable in expressing their opinions.

3. Implement retention strategy: Once the causes of attrition are found, a strategy is to be
implemented so as to reduce employee turnover. The most effective strategy is to adopt a holistic
approach to dealing with attrition.

2.8. RETENTION BONUS


Higher attrition rates within a particular industry have forced companies to use some innovative
strategies to retain employees. Retention Bonus is one of 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. Retention bonuses are becoming more common in the corporate world
because companies are going through more transitions like mergers and acquisitions. They need
to give key people an attractive incentive to stay on through these transitions to ensure
productivity. Retention bonuses have proven to be a useful tool in persuading employees to stay.
A retention bonus plan is not a panacea. According to a survey, non-management employees
generally receive about 10 percent of their annual salaries in bonuses, while management and
top-level supervisors earn an additional 50 percent of their annual salaries. Employees are chosen
for retention bonuses based on their contributions to management and the generation of revenue.
However, some companies pay in installments as on when the business cycle completes. A
retention period can run somewhere between six months to three years. It can also run for a
particular project. A project has its own life span. As long as the project gets completed, the
employees who have worked hard on it are entitled to receive the retention bonus. For example,
the implementation of a system may take 18 months, so a retention bonus will be offered after 20
months.

2.9. HIRE RIGHT TALENT

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Employee retention starts with recruitment. Early departures arise from the wrong recruitment
process. Here are a few ways to ensure how to hire the right talent for a particular job.
1. Hire appropriate candidates: Hire candidates who are actually suitable for the job. For
this the employer should understand the job requirements clearly. Don’t hire under
qualified or clearly overqualified candidates.
2. Provide realistic job preview at the time of hiring: Mostly employees leave an
organization because they are given the real picture of their job responsibilities at the
time of joining. Attrition rate can be reduced if a right person is hired for a right job.
3. Clearly discuss what is expected from the employee: Before joining the organization,
tell the candidate what is expected from him. Setting wrong expectations or hiding
expectations will result in early leaving of employees.
4. Discuss what the expectations of the employees are: Ask employees what they expect
from the organization. Be realistic. If their requirements can be fulfilled only then
promise them. Or tell them beforehand that their requirements cannot be fulfilled. Don’t
show them an unrealistic picture.
5. Culture fit: Try to judge individual’s capability to adapt to the organization’s culture. A
drastic change in the culture may give a culture shock to the candidate.
6. Referrals: According to the research, referred candidates stay longer with the
organization. There is a fear of hampering the image and reputation of the person who
referred the candidate.

2.10. MANAGER ROLE IN RETENTION


When asked about why employees leave, low salary comes out to be a common excuse.
However, research has shown that people join companies, but leave because of what their
managers’ do or don’t do. It is seen that managers who respect and value employees’
competency, pay attention to their aspirations, assure challenging work, value the quality of work
life and provided chances for learning have loyal and engaged employees. Therefore, 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 with team members. This can be done in a following way:

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1. Creating a Motivating Environment: Team leaders who create motivating
environments are likely to keep their team members together for a longer period of time.
Retention does not necessarily have to come through fun events such as parties,
celebrations, team outings etc. They can also come through serious events e.g. arranging
a talk by the VP of Quality on career opportunities in the field of quality. Employees who
look forward to these events and are likely to remain more engaged.
2. Standing up for the Team: Team leaders are closest to their team members. While they
need to ensure smooth functioning of their teams by implementing management
decisions, they also need to educate their managers about the realities on the ground.
When agents see the team leader standing up for them, they will have one more reason to
stay in the team.
3. Providing coaching: Everyone wants to be successful in his or her current job. However,
not everyone knows how. Therefore, one of the key responsibilities will be providing
coaching that is intended to improve the performance of employees. Managers often tend
to escape this role by just coaching their employees. However, coaching is followed by
monitoring performance and providing feedback on the same.
4. Delegation: Many team leaders and managers feel that they are the only people who can
do a particular task or job. Therefore, they do not delegate their jobs as much as they
should. Delegation is a great way to develop competencies.
5. Extra Responsibility: Giving extra responsibility to employees is another way to get
them engaged with the company. However, just giving the extra responsibility does not
help. The manager must spend good time teaching the employees of how to manage
responsibilities given to them so that they don’t feel over burdened.
6. Focus on future career: Employees are always concerned about their future career. A
manager should focus on showing employees his career ladder. If an employee sees that
his current job offers a path towards their future career aspirations, then they are likely to
stay longer in the company. Therefore, managers should play the role of career
counselors as well.

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2.11. HOW TO IMPROVE EMPLOYEE RETENTION
People want to enjoy their work so make work fun and enjoyable. Understand that employees
need to balance life and work so offer flexible starting times and core hours. Provide 360
feedback surveys and other questionnaires to foster open communication. Consider allowing
anonymous surveys occasionally so employees will be more honest and candid with their
opinions. Provide opportunities within the company for career progression and cross-training.
Offer attractive, competitive benefits.

1. Rewards and Recognition: Employees want to be recognized for a job well done. Rewards
and recognition respond to this need by validating performance and motivating employees
toward continuous improvement. Rewarding and recognizing people for performance not only
affect the person being recognized, but others in the organization as well. Employees may feel
that their performance is unrecognized and not valued, or that others in the organization are
rewarded for the wrong behaviors. Unrecognized and no valued performance can contribute to
turnover. Recognition for a job well done fills the employees' need to receive positive, honest
feedback for their efforts.

2. Need for Rewards and Recognition: Recognition should be part of the organization's culture
because it contributes to both employee satisfaction and retention. Organizations can avoid
employee turnover by rewarding top performers. Rewards are one of the keys to avoiding
turnover, especially if they are immediate, appropriate, and personal. A Harvard University study
concluded that organizations can avoid the disruption caused by employee turnover by avoiding
hiring mistakes and selecting and retaining top performers.

3. One of the keys to avoiding turnover is to make rewards count: Rewards are to be
immediate, appropriate, and personal. Organizations may want to evaluate whether getting a
bonus at the end of the year is more or less rewarding than getting smaller, more frequent
payouts. Additionally, a personal note may mean more than a generic company award.
Employees should be asked for input on their most desirable form of recognition. Use what
employees say when it comes time to reward for performance (St. Amour, 2000).

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2.15. GUIDELINE FOR REWARDS AND RECOGNITION
In designing rewards and recognition program, the following guidelines should be considered:
 Rewards should be visible to all members of the organization.
 Rewards should be based on well-defined, credible standards that have been developed
using observable achievements.
 Rewards should have meaning and value for the recipient.
 Rewards can be based on an event (achieving a designated goal) or based on a time frame
(performing well over a specific time period).
 Rewards that are spontaneous are also highly motivating and should also use a set criteria
and standard to maintain credibility and meaning.
 Rewards should be achievable and not out of reach by employees.
 Nonmonetary rewards, if used, should be valued by the individual. For example, an avid
camper might be given a 10-day pass to a campsite, or, if an individual enjoys physical
activity, that employee might be given a spa membership. The nonmonetary rewards are
best received when they are thoughtfully prepared and of highest quality. Professionalism
in presenting the reward is also interpreted as worthwhile recognition.
 Rewards should be appropriate to the level of accomplishment received. Determining the
amount of money given is a delicate matter of organizational debate in which
organizational history, financial parameters, and desired results are all factors.
Recognition for a job well done can be just as valued and appreciated as monetary
awards.
 Formal recognition program can be used with success. First Data Resources, a data
processing services company that employees more than 6,000 individuals in Omaha,
Nebraska, use a formal recognition program (Adams, Mahaffey, and Rick, 2002).
Rewards are given on a monthly, quarterly, and yearly basis, and range from Nebraska
football tickets, gift certificates, pens, plaques, mugs, and other items. One of the most
popular awards at First Data is called the "Fat Cat Award" that consists of: $500 gift
check

35
CHAPTER – 04

PROJECT DETAILS

36
PROJECT DETAILS

3.1. TITLE OF THE PROJECT


“Retention Strategy for employees at G4S Security Services India Pvt Ltd”

3.2. OBJECTIVE OF THE STUDY


1. To find the factors that influence employee retention and to find the factors which
motivates the employee to retain in G4S Security Services India Pvt. Ltd?
2. To make recommendation for future research and to retain the experienced and skillful
employees within the G4S Security Services India Pvt. Ltd.
3. To identify the factors causing dissatisfaction of the employees and to identify the factors
motivating the employees.
4. To reduce the employees turn over in the organization and to identify the employee’s
expectation from the rewards and recognition system.
5. To ascertain the motivational drivers that help to create a retain workplace at G4S
Security Services India Pvt. Ltd

3.3. IMPORTANCE OF THE STUDY


People do not leave an organization, they leave their bosses. This is one of the many factors
floating around for employees to make the switch. Salvaging the talent pool is a tough task for
companies and HR departments alike. However, this is an inconvenient truth in the stark reality
of attrition versus the desperate efforts of retention. Any organization suffers when the most
efficient and valuable employee decides to part ways—be it the top notch or lower down the
ranks, they create a vacuum—either for the company in large or in their immediate frame of
surroundings. Employees are said to be a company's greatest asset. Attracting, safeguarding,
nurturing and preserving them are a mission in itself, which takes total commitment and
endorsement. While the middle management has a career chart well in place to take on the next
position, the top hierarchy has a contingency plan laid firm. It is the group which is lower down
the ranks for whom there is no succession planning strategy in place, and who comprise the
volatile lot. They are easy targets of poaching in the competitive talent market.

37
3.4. NEED FOR THE STUDY
In today’s scenario employees turnover is getting increased day by day which affects the growth
of the company. Employee’s turnover causes huge loss for the company, which invests a lot of
money in training them. The study helps to identify the factors causing dissatisfaction, to the
employees and thereby reducing the employees exiting the profession.

 The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of
money to a company's expenses.
 Loss of Company Knowledge: When an employee leaves, he takes with him valuable
knowledge about the company, customers, current projects and past history (sometimes
to competitors).
 Interruption of Customer Service: Customers and clients do business with a company
in part because of the people. Relationships are developed that encourage continued
sponsorship of the business. When an employee leaves, the relationships that employee
built for the company are severed, which could lead to potential customer loss.
 Goodwill of the company: The goodwill of a company is maintained when the attrition
rates are low.
 Regaining efficiency: If an employee resigns, then good amount of time is lost in hiring
a new employee and then training him/her and this goes to the loss of the company
directly which many a times goes unnoticed. And even after this you cannot assure us of
the same efficiency from the new employee
 The challenge of keeping employees: Its changing face has stumped managers and
business owners alike. How do you manage this challenge? How do you build a
workplace that employees want to remain with and outsiders want to be hired into?
 Replacing employees costs money: The cost of replacing an employee is estimated as
up to twice the individual’s annual salary (or higher for some positions, such as middle
management), and this doesn’t even include the cost of lost knowledge.
 Bringing employees up to speed takes even more time: And when you’re short staffed,
you often need to put in extra time to get the work done.

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3.5. SCOPE OF THE STUDY
By identifying the factors causing employee turnover, the organization can develop and maintain
the strategies that help them to retain their employees. This study helps the management to
analyze the factors that motivates the employees. By identifying the factors of motivation
management may concentrate on those motivating factors in order to create job satisfaction.
Providing job satisfaction to the employees will increase employee loyalty which in turn helps
the organization to retain their employees. The scope of the study includes:
1. To understand the relationship between the employer and employees.
2. This study is helpful to the organization for conducting further research.
3. It is helpful for the organization to understand the employee relationship regarding
human resource practices in the organization.
4. The Management will be in a position to work out the strategies in relation to the Human
Resource Management.
5. It will help management use other available HR tools effectively.

3.6. STATEMENT OF THE PROBLEM


As a person with knowledge of staff turnover and retention, the author has always brought up to
his superiors the viability of strategy formation regarding staff turnover and retention
management and at times fail to understand the reasons or logic behind certain strategic
implementations imposed on it.
By delving into this project paper, the author intends to have better insights into how staff
turnover and retention is thought up, formulated and then imparted down. The author hopes to
have an in-depth understanding as to how the staff members reconcile the need to become more
strategic with the demands of managers to carry out the traditional personnel roles.

In order to reinforce the learning objectives, two key focal issues were focused upon, i.e.
innovation and diversity. Innovation was discussed with regards to staff turnover and retention
where it was renowned for its developmental capabilities to constantly innovate. Diversity came
under strategic thinking and formation as the author considered the diverse culture, political

39
climate, economic surroundings, social environment, technological settings, government policies
and legal systems in order to understand staff turnover and retention.
The challenge of keeping employees: Its changing face has stumped managers and business
owners alike. How do you manage this challenge? How do you build a workplace that employees
want to remain with … and outsiders want to be hired into?
Successful managers and business owners ask them these and other questions because—simply
put—employee retention matters:

 High turnover often leaves customers and employees in the lurch; departing employees
take a great deal of knowledge with them. This lack of continuity makes it hard to meet
your organization’s goals and serve customers well.

 Replacing employees’ costs money. The cost of replacing an employee is estimated at up


to twice the individual’s annual salary (or higher for some positions, such as middle
management), and this doesn’t even include the cost of lost knowledge.

 Recruiting employees consumes a great deal of time and effort, much of it futile. You’re
not the only one out there vying for qualified employees, and job searchers make
decisions based on more than the sum of salary and benefits.

 Bringing employees up to speed takes even more time. And when you’re short-staffed,
you often need to put in extra time to get the work done.

40
CHAPTER – 04

LITERATURE REVIEW

41
LITERATURE REVIEW
The literature clearly indicated that there are six keys to retaining personnel. They are recruiting,
communications, training, job satisfaction, pay, and benefits.

Recruiting: The effort to retain the best personnel begins with recruiting. Attracting and
retaining the best people are not two different things, but are the same thing. Both require
creating and maintaining a positive reputation, internally as well as externally. Employers must
be honest with the recruit about the beliefs, expectations, organizational culture, demands, and
opportunities within the organization. By representing the organization realistically, a department
will attract those who will be content working within the culture (Marx, 1995). Denton (1992,
p.47) follows this up by stating that, “the better the match between recruits and the organization
the more likely you are to retain them.” Lynn (1997) believes that you must take time during the
hiring process to make wise decisions. The employer must be candid about the working
conditions, responsibilities, opportunities and other details to reduce the chances of making
hiring mistakes.

Communications: Carney (1998) believes that the key to employee retention is quite simple:
communicate, communicate, and communicate. Communication with the employees must begin
early on in the relationship. He believes that the imprinting period of a new employee is probably
less than two weeks. Employers must engage the employee early on by sharing how important
the job they do is. Lynn (1997) follows this up by stating that early on an atmosphere of fairness
and openness must be created by clearly laying out company policies.
Taylor and Consenza (1997) indicate that it is important to communicate the values of the
organization to its employees in order to increase their level of consent, participation, and
motivation. Lynn (1997) echoes this thought by pointing out that the vision of the organization
must be shared with the employee as well as the importance the employees play in helping fulfill
it.

Training: As was noted earlier it is important that the employee feel like a valued member of the
organization. Training helps underscore this message. Training personnel is a way to show you
respect them and want them to grow. The department is making an investment in the employee

42
by offering training (Marx, 1995). Good training can de-emphasize salaries and benefits, in part
by building a positive work environment and by giving employees advancement opportunities
(Lynn, 1997). Lynn goes on to say that training helps strengthen employee loyalty.

Job Satisfaction: While an organization must be competitive in terms of compensation and


benefits, it is the relationship with the supervisor that is often a crucial factor in determining
whether a person stays or goes (Mendonsa, 1998). Employees want more interaction with
management, more self-satisfaction onthe job, more responsibility and more control over
decisions affecting them. They want their work to make a difference and want to be part of
something that matters (Taylor, 1997). Departments should encourage innovation by soliciting
the advice and input of their staff members, followed by responses to ideas, complaints or
questions (Taylor, 1997). It is difficult to keep people on the job if they have no say in how to do
it (Spragins, 1992).

Pay and Benefits: In general people think that money and benefits or lack thereof, are the main
reasons people leave their jobs, but this is not the case. While compensation and benefits may be
a key factor in the final decision-making process, a money shortage is usually not what causes
people to look in the first place (Mendonsa, 1998).

Today, changes in technology, global economics, trade agreements, and the like are directly
affecting employee/employer relationships. “Until recently, loyalty was the cornerstone of that
relationship. Employers promised job security and a steady progression up the hierarchy in return
for the employee’s fitting in, performing in prescribed ways and sticking around. None of these
assumptions apply today. Restructuring and layoffs occurring today are expected to continue far
into the future. Employees are now finding that previous job skills are no longer valuable. They
must now create new job growth possibilities, rather than waiting on promotions to be handed
out.

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CHAPTER - 05

RESEARCH METHDOLOGY

44
RESEARCH METHDOLOGY

The research design indicates the type of research methodology under taken to collect the
information for the study. I have used both descriptive type of research design for my research
study. The main objective of using descriptive research is to describe the state of affairs as it
exists at present. It mainly involves surveys and fact finding enquiries of different kinds.

5.1. SCHEME OF RESEARCH


The following methodology was adopted in project
 Comprises of understanding the theoretical concepts in general.
 Questionnaire study
 Analysis of the primary data
 Analysis of the secondary data

5.2. RESEARCH DESIGN


Research design means a specified framework for controlling the data collection. The research is
of descriptive in nature, which could provide an accurate picture of induction procedure
conducted in the organization. Descriptive research includes surveys and fact-finding inquiries of
different kinds. The research is of Ex post facto nature in which researcher no control over the
variables has.

5.3. SAMPLING TECHNIQUE


The sampling technique used in this study random sampling. Random sampling from a finite
population refers to that method of sample selection which gives each possible sample
combination an equal probability of being picked up and each item in the entire population to
have equal chance of being included in the sample.

5.4. SAMPLE SIZE


The sample size used in this study is 50. The universe of the study includes employees in HR
admin. I have allowed doing the project in a particular division in the organization. The study is
limited to only that particular division.

45
5.5. DATA COLLECTION METHOD
Based on the nature and purpose of study there are various modes of data collection. Data
sources can be classified into two categories namely primary and secondary sources.

1. Primary data: The primary data was collected from structured form of questionnaire. The
questionnaire consists of multiple choices, dichotomous and ranking type of questions.

2. Secondary data: The secondary data are collected through company records and journals,
manuals. Some other data also collected from the reports, registers and books and from the files
available in the organization. Information collected from various HRM books and websites.

5.6. STATISTICAL TOOLS USED:


The statistical tools used in this study are
1. chi- square analysis
2. Weighted average method

1. CHI - SQUARE TEST


Chi – square test is an important non – parametric test and as such no test is necessary in respect
of the type of population. We required only the degree of freedom (implicit of course the size of
the sample) for using this test. As a non – parametric test, Chi – square can be used (i) as a test
of goodness of fit and (ii) as a test of independence. Since the researcher used test of
independence only the details about test of independence is given below.

 TEST OF INDEPENDENCE: ψ2 test enables us to explain whether or not two


attributes are associated. In order be may apply the chi – square test either as a test to
judge the significance of association between attributes, it is necessary that the observe as
well as theoritical or expected frequencies must be grouped in the same way and
theoritical distribution must be adjusted to give the same total frequency as we find in
case of observe distribution.

46
Karl Pearson developed a test for testing the significance of discrepancy between experimental
values and the theoritical values obtained under some theory or hypothesis. This test is known as
ψ2 test of goodness of fit. Karl Pearson proved that statistic
ψ2 = ∑(O − E)2 / E
O – Observed frequency
E – Expected frequency
ψ2 is used to test whether difference between observed and expected frequencies are frequent.
To find ψ2 table value degree of freedom should be calculated. Degree of freedom is calculated
using the formula (r – 1) (c -1). The table value for this degree of freedom is seen using 5% or
1% of significant level.

If ψ2 table value is greater than ψ2 calculated value, Null hypothesis is accepted or null
hypothesis is rejected. In this study the chi-square test the table value has taken @ 5% level of
significance.

2. WEIGHTED AVERAGE METHOD


Weighted average can be defined as an average whose components aggregate of the products are
divided by the total of weights. One of the imitations of simple arithmetic mean is that it gives
equal importance to all the items of the distribution. In certain cases relative importance of all the
items in the distribution is not the same where the importance of the items varies. It is essential
to allocate weight applied but may vary in different cases. Thus weight age is a number standing
for the relative importance of items.

5.7. DATA ANALYSIS & INTERPRETATION


Classification & tabulation transforms the raw data collected through questionnaire in to useful
information by organizing and compiling the bits of data contained in each questionnaire i.e.,
observation and responses are converted in to understandable and orderly statistics are used to
organize and analyze the data.

47
CHAPTER - 06

THE 3 R’S OF EMPLOYEE RETENTION

48
THE 3 R’S OF EMPLOYEE RETENTION

To keep employees and keep their satisfaction levels high, any organization needs to implement
each of the three R’s of employee retention: respect, recognition, and rewards.

REWARD RESPECT

RECOGNITION

1. Respect is esteem, special regard, or particular consideration given to people. As the


pyramid shows, respect is the foundation of keeping your employees. Recognition and
rewards will have little effect if you do not respect employees.

2. Recognition is defined as “special notice or attention” and “the act of perceiving


clearly.” Many problems with retention and morale occur because management is not
paying attention to people’s needs and reactions.

3. Rewards are the extra perks you offer beyond the basics of respect and recognition that
make it worth people’s while to work hard, to care, to go beyond the call of duty. While
rewards represent the smallest portion of the retention equation, they are still an
important one.

You determine the precise methods you choose to implement the three R's, but in general,
respect should be the largest component of your efforts. Without it, recognition and rewards

49
seem hollow and have little effect – or they have negative effects. The magic truly is in the mix
of the three.

When implemented, the “3 R's” approach yields reduced turnover and the following benefits:
 Increased productivity,
 Reduced absenteeism,
 A more pleasant work environment (for both employees and management/employer),
 Improved profits.

Furthermore, an employer who implements the three R's will create a hard-to-leave workplace,
one known as having more to offer employees than other employers. It becomes a hard-to-leave
workplace – one with a waiting list of applicants for any position that becomes available –
purposefully, one day at a time.

A steadfast philosophy that sets Employee Retention Strategies apart:


 Uses only research-based, theory-supported approaches to improving employee
engagement. Avoided are gimmicks such as employee of the month, suggestion boxes,
prizes or other “carrots.” While commonly used, these short-term fixes fail to produce
genuine employee loyalty (more than 60 years’ of research tells us so!).
 Employs an easy-to-understand systems approach to ensure the root causes of turnover
are addressed and the potential for lasting change unleashed.
 Customizes all activities to your organization’s unique history, current practices and
strategic objectives. Also considered are challenges unique to your industry sector,
competitive marketplace issues and talent shortages.
 Involves those responsible for implementing change in actually creating the change,
ensuring input and improved shared understanding and support of all initiatives.
 Integrates hands-on, action-oriented approaches that enable organizations to move
forward quickly and effectively
 Recognizes the research-proven role of no-cost strategies in developing the “glue” that
builds employee loyalty and commitment.

50
 Brings to your organization leading-edge organization-development best practices to
effectively and quickly build a retention-rich culture.

Importance of Relationship in Employee Retention Program


Sometimes the relationship with the management and the peers becomes the reason for an
employee to leave the organization. The management is sometimes not able to provide an
employee a supportive work culture and environment in terms of personal or professional
relationships. There are times when an employee starts feeling bitterness towards the
management or peers. This bitterness could be due to many reasons. This decreases employee’s
interest and he becomes de-motivated. It leads to less satisfaction and eventually attrition. A
supportive work culture helps grow employee professionally and boosts employee satisfaction.
To enhance good professional relationships at work, the management should keep the following
points in mind.
Respect for the individual: Respect for the individual is the must in the organization.
 Relationship with the immediate manager: A manger plays the role of a mentor and a
coach. He designs and plans work for each employee. It is his duty to involve the
employee in the processes of the organization. So an organization should hire managers
who can make and maintain good relations with their subordinates.
 Relationship with colleagues: Promote team work, not only among teams but in
different departments as well. This will induce competition as well as improve the
Relationship among colleagues.
 Recruit whole heartedly: An employee should be recruited if there is a proper place and
duties for him to perform. Otherwise he’ll feel useless and will be dissatisfied.

Employees should know what the organization expects from them and what their expectation
from the organization is. Deliver what is promised. Promote an employee based culture: The
employee should know that the organization is there to support him at the time of need. Show
them that the organization cares and he’ll show the same for the organization. An employee
based culture may include decision making authority, availability of resources, open door policy,
etc.

51
 Individual development: Taking proper care of employees includes acknowledgement
to the employee’s dreams and personal goals. Create opportunities for their career growth
by providing mentorship programs, certifications, educational courses, etc.
 Induce loyalty: Organizations should be loyal as well as they should promote loyalty in
the employees too. Try to make the current employees stay instead of recruiting new
ones.

Support Lack of support from management can sometimes serve as a reason for employee
retention. Supervisor should support his subordinates in a way so that each one of them is a
success. Management should try to focus on its employees and support them not only in their
difficult times at work but also through the times of personal crisis. Management can support
employees by providing them recognition and appreciation.. The feedback from supervisor helps
the employee to feel more responsible, confident and empowered. Top management can also
support its employees in their personal crisis by providing personal loans during emergencies,
childcare services, employee assistance Programs, consoling services, etc.

Employers can also support their employees by creating an environment of trust and inculcating
the organizational values into employees. Thus employers can support their employees in a
number of ways as follows:
 By providing feedback
 By giving recognition and rewards
 By counseling them
 By providing emotional support

52
CHAPTER - 07

KEi’s EMPLOYEE RETENTION WHEEL

53
KEi’s EMPLOYEE RETENTION WHEEL

The first step to improving your employee retention is to understand why employees stay with
their current employer. Many "experts" dwell on the reasons employees leave, which is not as
important or revealing as the reasons they stay. Companies have tried many different programs
and perks to hold onto good employees. However, studies show that these efforts are not enough
to retain good employees when the support that is needed to achieve job success is not adequate.

7.1. DON'T WASTE YOUR MONEY ON THINGS THAT DON'T MAKE A DIFFERENCE
Among the countless inducements offered, only those identified in the center of KEi's Employee
Retention Wheel™ are truly what give employees a consistent reason for saying "no thank you"
when tempted with a "sweeter offer." After years of study and experience, KEi has determined,
and presented in the Retention Wheel, what factors do have the greatest impact on keeping
employees. KEi has used this information to give employers the tools to meet the core needs that
keep employees successful at their jobs, thus reducing the high costs associated with unwanted
employee turnover.

54
55
7.2. USING THE WHEEL TO IMPROVE EMPLOYEE RETENTION
KEi's Employee Retention Strategy is based upon two primary beliefs:
(1) It is difficult for employers to retain good employees if they don't have a process to hire
the right people in the first place.
(2) Retention processes must directly support the reasons that successful, satisfied
employees stay.
KEi's concentration on the center of the Employee Retention Wheel provides employers with
Internet-based tools that give employees systematic, ongoing support to be successful in their
work and satisfied with their employment.

7.3. THE CENTER OF KEI'S EMPLOYEE RETENTION WHEEL: EIGHT FACTORS


Definition of successful: my job is helping me to grow personally, professionally and
financially.
Definition of satisfied: my employer is providing what I need to perform my job successfully.

These eight central processes of the Employee Retention Wheel are the factors that are most
critical to an employee's job performance success.

ATTITUDE FOR EMPLOYING


A process to clearly define the way supervisors are expected to interact with
employees; a process to give employees a way to express what is most important
to achieve job success; and a process to give employers a way to demonstrate
"Employing Values" through employment policies.
This "Employer Mission Statement" is about how and who you hire, how you treat
them and the organization's values as an employer. It is about making sure that the
Values for Employing™ are communicated to your employees and consistently
implemented throughout your organization. It is about the total employment
package that goes beyond salary and traditional benefits.

56
FINDING CANDIDATES
A process that gives employers a comprehensive way to communicate to job
seekers what it takes to achieve short-term and long-term job success, and to
attract the candidates who fit this criteria.
SORTING APPLICANTS
A process that gives employers a way to confirm whether the attitudes and
behaviors of job seekers are a match for their work environment.

CHOOSING EMPLOYEES
A process that gives employers a way to define the specific interview questions
that prove job seeker abilities to successfully perform the target skills; and a
process that gives employers a way to verify the accuracy of resume/application
data and interview responses.
STARTING EMPLOYEES
A process that provides a way for new employees (before performing the job) to
understand "why the employers business exists;" "what makes the business
organization successful;" "why the employee's job exists;" and "what it will take
for the employee to achieve job success."
INFORMING EMPLOYEES
A process that gives employers a way to provide essential information (from five
critical information sources) that is needed by employees to make daily work
decisions.
IMPROVING EMPLOYEES
A process that gives supervisors and employees a way to work together to build
personalized plans for improving each employee's priority job skills; and a process
that gives the employer a way to "deliver skills-improving training curriculum"
and to "measure the learning effectiveness" from the training experiences.
REWARDING EMPLOYEES
A process that gives employers a way to define and communicate exactly how
individual employee salaries are determined; and a process that gives employers a
way to provide employees with extra incentive income that is earned through the
achievement of cash generating business goals.

57
CHAPTER-08

MYTHS ABOUT EMPLOYEE MORALE PREVENT


COMPANIES FROM ACHIEVING RETENTION SUCCESS

58
MYTHS ABOUT EMPLOYEE MORALE PREVENT COMPANIES
FROM ACHIEVING RETENTION SUCCESS
Despite years of research that point to far different solutions, many companies use the wrong
tactics when trying to improve employee morale, satisfaction and retention. These myths prevail,
in part, because businesses have used these methods, however wrong, for a very long time and
have become used to trying the same ideas.

Myth #1: People most often leave a company for more pay.
Exit interviews, conducted to learn why people leave an organization, contain some of America’s
greatest fiction. People frequently say they’re leaving for more money because it’s the easiest
reason to give. More often the causes leading to departure are related to issues that were
unsatisfying in the job or the company. Typical issues that cause dissatisfaction are company
policies and procedures, quality of supervision, working conditions, relationship with the
immediate supervisor and salary.
Yes, pay does matter. While research shows most people don’t actually leave a job for more
money, there are two important facts: Very-low-income workers will leave for more money
because it’s a survival issue. For the rest of workers, the issue of money actually is about
fairness. People become dissatisfied with pay when they feel it is unfair within the company,
within the industry or when pay doesn’t seem to match the amount or type of work required.

Myth #2: Incentive programs produce long-term profits and improve productivity and
morale.
So, who doesn’t like free stuff? However, incentives such as gifts and cash bonuses for meeting
speed and volume goals don’t affect employee commitment. They’re really a throwback to
outdated management beliefs that workers must be coerced in order to work hard. All the extras
don’t add up to the real glue that creates employee commitment: the chance to learn and grow,
meaningful work, good supervisors and respect and appreciation for a job well done.
Incentives have been over-used particularly in the past decade, as management books touted the
importance of improving recognition of excellent work. Yet, studies show that carrot-and-stick
motivation actually does not pay off in long-term company profitability or employee satisfaction

59
or retention. To the contrary, incentives can harm quality when employees aim for speed or other
goals rather than quality.

Myth # 3: People don’t want more responsibility.


They don’t want more work if they’re already overloaded due to lean staffing; but people indeed
want the opportunity to grow and develop their skills, advance their careers and have the
opportunity for greater variety. Keep in mind what the research confirms: People do want to try
new things, to feel skillful and to experience the personal satisfaction of higher levels of
achievement. People don’t need a job promotion in order to gain more responsibility. The same
job can be broadened to include more variety, more contact with different parts of the
organization and greater control over decisions on accomplishing work tasks.

Myth #4: Loyalty is dead.


Not at all, though it is ailing in many organizations. People are seeking greater work-life balance
than in the past, and employers have made great strides in providing more flexible hours and
dress codes. Still, people seek to make a contribution, and organizations that provide healthy
doses of the main satisfiers enjoy significantly lower turnover and higher morale. Profits are
higher, too, according to recent research studies.
Things have changed, indeed. Today’s workers will, in fact, change careers and jobs much more
often. When the economy is good, people have become much more at ease in changing
companies, are more likely to acquire new skills and move to companies that offer greater
chance to use more of their knowledge and more willing to take the risks of starting anew at
another organization. Employees who can make quick decisions on behalf of the customer and
the company; employees who have a broader scope of responsibility that allows them some
freedom and leverage to solve customer problems; learning opportunities that give employees the
skillfulness to address customer issues; and supportive management and supervisors who use any
mistakes that occur as teaching opportunities.

Myth #5: Improving employee satisfaction is expensive.


Research tells us the true satisfiers can’t even be bought: career growth, meaningful work,
respect and appreciation and being able to influence how work gets done. In these leaner times

60
employers have the same opportunity to gain true loyalty despite lowered budgets. The trinkets
and prizes given in recognition and rewards programs aren’t necessary ingredients for
developing an engaged workforce. The “glue” that holds people is made of much different stuff:
Management that listens and responds to employees’ ideas about improving service, supervisors
who support people’s growth and initiative, training in how to do the job successfully, good
relationships with coworkers and genuine appreciation for a job done well. There are no costs
incurred to build or enhance these motivators.

Myth #6: Employee satisfaction is “fluff.”


Does having engaged workers make a difference in the bottom line? Studies now show that
lower turnover and greater levels of employee satisfaction have a definite positive impact on
customer satisfaction and profitability, which are the key factors in company growth and
sustainability. Consider these facts:
 A strong link was found in a study by PricewaterhouseCoopers between employee
retention and the quality of service as rated by companies’ customers.
 According to the American Society of Training & Development, organizations that
invested the most in training had higher gross margins and income per employee.
 The cost of replacing an employee who leaves has been estimated by various studies to
be between 70 and 200 percent of that worker’s annual salary.
 The Council on Competitiveness found that a 10-percent increase in education has a more
positive impact on productivity than a 10-percent increase in work hours.
The bottom line on the bottom line? Investing in people and using the most effective
management practices increases profits.

Myth #7: Supervisors are the problem.


Many senior leaders express dismay about the quality and actions of their middle managers and
front-line supervisors. The “blame game” is old, yet the solutions are strikingly similar to those
required to build an engaged workforce. In most organizations today, supervisors have more
people reporting to them than in the past, more demanding customers than ever and greater
amounts of change – all occurring at the same time. Yet, the amount of training provided to
managers and supervisors in many organizations is minimal. More importantly, the amount of

61
time that senior managers spend in dialogue with middle and line managers also is minimal.
Middle managers and supervisors can appear resistant to improvement efforts. However, the true
failure exists in our understanding of their world, the challenges they face and the support they
need in order to be successful. Successful organizations seek to build teamwork between senior
leaders and middle managers and line supervisors (which is a key ingredient in creating
teamwork throughout the company).

Myth # 8: My company/industry/people are different!


Yes, every company is unique, and every industry has its own set of unusual challenges.
However, a very costly mistake is made when we believe information from other sectors doesn’t
apply to us or our organization. Retention research studies cross all industries, all types of work
settings and in varied economic conditions. Still, the same results come up time and again. We
build employee loyalty – and, indirectly, customer loyalty – through providing people with
growth and learning opportunities, minimizing red tape, allowing people to think and make good
choices, supporting middle managers and front-line supervisors and appreciating the efforts that
people give to help our customers. It’s downright dangerous to ignore these findings – risky to
the bottom line and the organization’s future.
Barriers to Success
? Lack of support from management team.
? Inability to provide hard numbers.
? Company culture does not support change.
? Back lash from single workers.
? Failure of other programs due to low utilization.
? Managers do not view work/life initiatives as business tools that impact employee
retention.

62
CHAPTER - 09

DATA ANANLYSIS AND INTERPRETATION

63
DATA ANANLYSIS AND INTERPRETATION

9.1. PERCENTAGE ANALYSIS METHOD: It is a special kind of ration. It is used in making


comparison between two or more series of data that are used to describe relationship. Moreover
% can also be used to compare the relative terms of the distribution of two or more series of data.
 Percentage analysis
Actual population
Simple Percentage = ------------------------ x 100
Sample size

TABLE – 9.1: CLASSIFICATION OF EMPLOYEES BASED ON THEIR EXPERIENCE


S.NO Respondents Response Percentage
1 Less than 1 year 10 20
2 1-2 year 14 28
3 2-3 year 10 20
4 3-4 year 7 14
5 Above 4 year 9 18
Total 50 100

CHART –9.1 CLASSIFICATION OF EMPLOYEES BASED ON THEIR EXPERIENCE


16 14
14
12 10 10
10 9
8 7
6
4
2
0
less than 1 year 1-2 year 2-3 year 3-4 year above 4 year
1 2 3 4 5

Interpretation: It is infered that 20% of employees has experience less than 1 year, 28% of
employees has experience of 1-2 year, 20% of employees has experience of 2-3 year,and 14% of
employees has experience of 3-4 year and 18% of employees has experience above 4 years.

64
TABLE – 9.2: POSITION CATEGORY
S.No Position category No. of Respondents Percentage
1 Middle Level 28 56
2 Managerial Level 22 44
Total 50 100

CHART– 9.2: POSITION CATEGORY

28

30 22

20

10

managerial level
1 middle level
2

Interpretation: It is infered that 56% of employee belongs to Middle level and 44% of
employees belongs to Managerial level.

TABLE – 9.3: SATISFACTION TOWARDS THE WORK ENVIRONMENT


S.no Response Respondents Percentage
1 Highly satisfied 10 20
2 Satisfied 22 44
3 Neutral 11 22
4 Dissatisfied 4 8
5 Highly dissatisfied 3 6
Total 50 100

65
CHART– 9.3: SATISFACTION TOWARDS THE WORK ENVIRONMENT
25
22

20

15
11
10
10

5 4
3

0
Highly satisfied Satisfied Neutral Dissatisfied Highly
dissatisfied
1 2 3 4 5

Interpretation: From the table it is infered that 20% of employees are highly satisfied with the
work environmnent,44% of employees are satisfied with the work environmnent,22% of
employees are neutral in satisfaction with the work environmnent,8% of employees are
dissatisfied with the work environmnent and 6% of employees are highly dissatisfied with the
work environmnent.

TABLE – 9.4: OPINION ABOUT THE INCENTIVES PROVIDED


S.no Response Respondents Percentage
1 Highly satisfied 24 48
2 Satisfied 16 32
3 Neutral 7 14
4 Dissatisfied 3 6
5 Highly dissatisfied - -
Total 50 100

66
CHART– 9.4: OPINION ABOUT THE INCENTIVES PROVIDED

30

25 24

20
16
15

10
7

5 3

0
Highly satisfied Satisfied Neutral Dissatisfied Highly
dissatisfied
1 2 3 4 5

Interpretation: From the table it is seen that 48% of employees are highly satisfied 32% of
employees are satisfied 14% or employees are neutral and 6% of employees are dissatisfied with
the incentives provided in the organisation.

TABLE – 9.5: THE MANAGEMENT’S INTEREST IN MOTIVATING EMPLOYEES


S.no Response Respondents Percentage
1 Strongly agree 20 40
2 Agree 11 22
3 Neutral 14 28
4 Disagree 5 10
Total 50 100

67
CHART– 9.5: THE MANAGEMENT’S INTEREST IN MOTIVATING EMPLOYEES

20
20
18
16
14
14
12
11
10
8
6 5
4
2
0
Strongly agree Agree Neutral Disagree
1 2 3 4

Interpretation: From the table it is infered that 40% of employees strongly agree,22% of
employeesagree,28% of employees are neutral and 10% of employees disagree with the
management’s interest in motivating employees.

TABLE – 9.6: OPINION ABOUT THE OPPORTUNITIES FOR PROMOTION

S.no Response Respondents Percentage


1 Highly satisfied 15 30
2 Satisfied 28 56
3 Dissatisfied 5 10
4 Highly dissatisfied 2 4
Total 50 100

68
CHART– 9.6: OPINION ABOUT THE OPPORTUNITIES FOR PROMOTION

30 28
25
20
15
15
10
5 5
0 2
Highly
Satisfied
satisfied Dissatisfied
Highly
1
2 dissatisfied
3
4

Interpretation: It is clear that 30% of employees are highly satisfied,56% of employees are
satisfied,10% of employees are dissatisfied and 4% of employees are highly dissatisfied with
opportunities for growth and promotion.

TABLE – 9.7: SATISFACTION REGARDING THE CAREER DEVELOPMENT

S.no Response Respondents Percentage


1 Strongly agree 10 20
2 Agree 20 40
3 Neutral 15 30
4 Disagree 2 4
5 Strongly disagree 3 6
Total 50 100

69
CHART– 9.7: SATISFACTION REGARDING THE CAREER DEVELOPMENT

20
20

15 15
10
10

5
2 3
0
Strongly
Agree
agree Neutral
Disagree
1 Strongly
2 disagree
3
4
5

Interpretation: It is infered that 20% of employees strongly agree,40% of employees


agree,30% of employees are neutral 4% of employees are disagree and 6% of employees
strongly disagree with the career development in the organisation.

TABLE – 9.8: RESPONSE ABOUT THE WELFARE POLICIES PROVIDED


S.no Response Respondents Percentage
1 Highly satisfied 24 48
2 Satisfied 17 34
3 Neutral 9 18
4 Dissatisfied - -
5 Highly dissatisfied - -
Total 50 100

70
CHART – 9.8: RESPONSE ABOUT THE WELFARE POLICIES PROVIDED

24
25
20 17

15
9
10
5
0
Highly Satisfied Neutral Dissatisfied Highly
satisfied dissatisfied
1 2 3 4 5

Interpretation: 48% of employees are highly satisfied,34% of employees are satisfied and 18%
of employees are neutral with the welfare policies provided in the company.

TABLE – 9.9: FACTORS MOTIVATING THE EMPLOYEES


S.no Factors Respondents Percentage
1 Increase in salary 8 16
2 Promotion 20 40
3 Leave 7 14
4 Power 15 30
Total 50 100

CHART – 9.9: FACTORS MOTIVATING THE EMPLOYEES

20
15
20
10
8
5 15
7
0
Increasevin
Promotion
salary Leave
Power
1
2
3
4

71
Interpretation:It is infered that 16% of employees are motivated by the increase in salary,40%
of employees are motivated by the promotion,14% of employees are motivated by the leave and
30% of employees are motivated by the power.

TABLE – 9.10: STRESS DUE TO OVERWORK


S.No Response No. of Respondents Percentage
1 Yes 38 76
2 No 12 24
Total 50 100

CHART – 9.10: STRESS DUE TO OVERWORK


38
40

30
20 12
10
0
Yes
1 No
2

Interpretation: It is infered that 76% of employees accepted the fact of stress due to over work
in the company and 24% of employees does’nt accepted the fact of stress due to over work.

TABLE – 9.11: WHAT DID YOU LIKE MORE ABOUT THE COMPANY
S.no Factors Respondents Percentage
1 Compensation 12 24
2 Rewards & Recognition 8 16
3 Job security 5 10
4 Relationship 25 50
Total 50 100

72
CHART – 9.11: WHAT DID YOU LIKE MORE ABOUT THE COMPANY

1
1 Compenstion

4 2 Rewards&Recognition
3 Job security
2
4 Relationship
3

Interpretation:It is infered that 24% of employees like compensation,16% of employees like


rewards&recognition,10% of employees like job security and 50% of employees like relationship
in the company.

TABLE – 9.12: MEDICAL FACILITIES PROVIDED IN THE ORGANISATION


S.No Response No. of Respondents Percentage
1 Yes 50 100
2 No - -
Total 50 100

CHART – 9.12: MEDICAL FACILITIES PROVIDED IN THE ORGANISATION

100%
80%
50
60%
40%
20%
0%
Yes No
1 2
Interpretation: It is infered that all the respondents are satisfied with the medical facilities
offered by the organisation.

73
TABLE – 9.13: RESPONSE TOWARDS THE PERFORMANCE APPRAISAL SYSTEM
S.No Response No. of Respondents Percentage
1 Yes 35 70
2 No 15 30
Total 50 100

CHART –9.13: RESPONSE TOWARDS THE PERFORMANCE APPRAISAL SYSTEM

1 Yes
2 No

Interpretation: It is infered that 70% of employees are satisfied with the performance appraisal
system and 30% of employees are not satisfied with the performance appraisal system followed
in the organisation.

TABLE –9.14: OPINION ABOUT BALANCING WORK LIFE AND PERSONAL LIFE
S.No Response No. of Respondents Percentage
1 Yes 38 76
2 No 12 24
Total 50 100

74
CHART –9.14: OPINION ABOUT BALANCING WORK LIFE AND PERSONAL LIFE
38
40
12
20
0

Yes
1 No
2

Interpretation: It is infered that 76% of employees are satisfied about balancing work life with
the personal life and 24% of employees are nt satisfied in balancing the work life with the
personal life

TABLE – 9.15: OPINION ABOUT GREIVANCE HANDLING SYSTEM


S.no Factors Respondents Percentage
1 Highly efficient 12 24
2 Efficient 23 46
3 Inefficient 5 10
4 Highly inefficient 3 6
5 Neither efficient nor inefficient 7 14
Total 50 100

CHART – 9.15: OPINION ABOUT GREIVANCE HANDLING SYSTEM


25
23
20
15 12
10 7
5 3
5
0
Highly efficient Efficient Inefficient Highly Neither
inefficient efficient nor
inefficient
1 2 3 4 5

75
Interpretation: It is infered that 24% of employees accepts highly efficient,46% of employees
accepts efficient,10% of employees accepts inefficient,6% of employees accepts highly
inefficient and 14% of employees given the opinion of neither efficient nor inefficient for
Greivance handling system in the company.

TABLE – 9.16: COMPANY WELCOMES NEW IDEAS AND INNOVATION


S.No Response No. of Respondents Percentage
1 Yes 40 80
2 No 10 20
Total 50 100

CHART – 9.16: COMPANY WELCOMES NEW IDEAS AND INNOVATION

40
40
30
20
10
10
0
Yes
No
1
2

Interpretation: It is infered that 80% of employees responded yes and 20% of employees
responded no for company’s interest in entertaining new ideas and innovation from employees.

TABLE – 9.17: OPINION ABOUT SUPERIOR SUBORDINATE RELATIONSHIP


S.no Factors Respondents Percentage
1 Highly satisfied 12 24
2 Satisfied 22 44
3 Neutral 11 22
4 Dissatisfied 5 10
Total 50 100

76
CHART – 9.17: OPINION ABOUT SUPERIOR SUBORDINATE RELATIONSHIP
25

22
20

15

12
11
10

5 5

0
Highly satisfied Satisfied Neutral Dissatisfied
1 2 3 4

Interpretation: It is infered that 24% of employees are highly satisfied,44% of employees are
satisfied,22% of employees are neutral and 10% of employees are dissatisfied with superior
subordinate relationship.

9.2. STATISTICAL TOOLS

1. CHI - SQUARE TEST

9.2.1. SATISFACTION WITH THE WORK ENVIRONMENT


To determine whether there is significant difference between the nature of work environment and
the employee retention

H0 : There is no significant difference between the nature of work environment and the employee
retention
H1 : there is significant difference between the the nature of work environment and the
employee retention

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S. NO Options No of respondents Percentage (%)
1 Highly satisfied 10 20
2 Satisfied 22 44
3 Neutral 11 22
4 Dissatisfied 4 8
5 Highly dissatisfied 3 6
Total 50 100
Expected Frequency = 50/5 = 10
Calculation of 𝛙𝟐 :
Observed Expected (𝐎 − 𝐄)𝟐 (𝐎 − 𝐄)𝟐 / E
Frequency (O) Frequency (E)
10 10 0 0
22 10 144 14.4
11 10 1 0.1
4 10 36 3.6
3 10 49 4.9
TOTAL 23

(0−E)2
Calculated ψ^2 = ∑ E

0 – Observed Frequency
E – Expected Frequency
Calculated ψ2 =23
Degree of freedom = (5-1)
= 4 d.f at 5 % level of significance
Therefore, Tabulated ψ2 =9.488
Since Calculated ψ2 > Tabulated ψ2
Therefore, we reject the hypothesis.
i.e, there is significant difference between the nature of work environment and the employee
retention

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9.2.2. CAREER DEVELOPMENT IN THE ORGANISATION
To determine whether there is significant difference between the career development of
employees and the employee retention
H0 : There is no significant difference between the career development of employees and the
employee retention
H1 : there is significant difference between the career development of employees and the
employee retention
S. NO Options No of respondents Percentage (%)
1 Strongly agree 10 20
2 Agree 20 40
3 Neutral 15 30
4 Disagree 2 4
5 Strongly disagree 3 6
Total 50 100
Expected Frequency = 50/5 = 10
Calculation of 𝛙𝟐 :
Observed Expected (𝟎 − 𝐄)𝟐 (𝟎 − 𝐄)𝟐 / E
Frequency (0) Frequency (E)
10 10 0 0
20 10 100 10
15 10 25 2.5
2 10 64 6.4
3 10 49 4.9
TOTAL 23.8

(0−E)2
Calculated ψ^2 = ∑ E

0 – Observed Frequency
E – Expected Frequency
Calculated ψ2 =23
Degree of freedom = (5-1)
= 4 d.f at 5 % level of significance

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Therefore, Tabulated ψ2 =9.488
Since Calculated ψ2 > Tabulated ψ2
Therefore, we reject the hypothesis.
i.e, there is significant difference between the career development of employees and the
employee retention

2. WEIGHTED AVERAGE METHOD

9.3.1 FACTORS MOTIVATING THE EMPLOYEES


Factors Respondents (Xi) Weightage (Wi) (Wi*Xi)/ ∑Wi Rank
Increase in salary 8 2 1.6 III
Promotion 20 4 8 I
Leave 7 1 0.7 IV
Power 15 3 4.5 II
Total 50 10 14.8
Inference: From the table it is seen that most of the respondents have given first preference to
promotion, second preference to power, third preference to increase in salary and fourth
preference to leave with respect to the factors motivating them.

9.3.2. GREIVANCE HANDLING SYSTEM IN THE ORGANISATION


Options Respondents (Xi) Weightage (Wi) (Wi*Xi)/ ∑Wi Rank
Highly efficient 12 5 4 II
Efficient 23 4 6.1 I
Inefficient 5 2 0.66 IV
Highly inefficient 3 1 0.2 V
Neither efficient 7 3 1.4 III
nor inefficient
Total 40 15 12

Inference: From the table it is seen that most of the respondents have rated first for Efficient,
secondly Highly efficient, third rank is for Neither efficient nor inefficient, Inefficient stands
fourth, whereas Highly inefficient stands the last that has been improved.

80
CHAPTER – 10

FINDINGS

81
FINDINGS
 It is infered that 20% of employees has experience less than 1 year, 28% of
employees has experience of 1-2 year, 20% of employees has experience of 2-3 year,and
14% of employees has experience of 3-4 year and 18% of employees has experience
above 4 years.

 It is infered that 56% of employee belongs to Middle level and 44% of employees belongs
to Managerial level

 From the table it is infered that 20% of employees are highly satisfied with the work
environmnent,44% are satisfied with the work environmnent,22% are neutral in
satisfaction with the work environmnent,8% are dissatisfied with the work environmnent
and 6% are highly dissatisfied with the work environmnent.

 From the table it is seen that 48% of employees are highly satisfied 32% are satisfied 14%
are neutral and 6% are dissatisfied with the incentives provided in the organisation.

 From the table it is infered that 40% of employees strongly agree,22% of employees
agree,28% of employees are neutral and 10% of employees disagree with the
management’s interest in motivating employees.

 It is clear that 30% of employees are highly satisfied,56% of employees are satisfied,10%
of employees are dissatisfied and 4% of employees are highly dissatisfied with
opportunities for growth and promotion.

 It is infered that 20% of employees strongly agree,40% of employees agree, 30% of


employees are neutral 4% of employees are disagree and 6% strongly disagree with the
career development in the organisation

 It is clear that 48% of employees are highly satisfied, 34% are satisfied and 18% of
employees are neutral with the welfare policies provided in the company.

82
 It is infered that 16% of employees are motivated by the increase in salary,40% of
employees are motivated by the promotion,14% of employees are motivated by the leave
and 30% of employees are motivated by the power.

 It is infered that 76% of employees accepted the fact of stress due to over work in the
company and 24% of employees does’nt accepted the fact of stress due to over work.

 It is infered that 24% of employees like compensation,16% of employees like


rewards&recognition,10% of employees like job security and 50% of employees like
relationship in the company.

 It is infered that all the respondents are satisfied with the medical facilities offered by the
organisation.

 It is infered that 70% of employees are satisfied with the performance appraisal system
and 30% of employees are not satisfied with the performance appraisal system followed in
the organisation.

 It is infered that 76% of employees are satisfied about balancing work life with the
personal life and 24% of employees are not satisfied in balancing the work life with the
personal life

 It is infered that 24% of employees accepts highly efficient,46% of employees accepts


efficient,10% of employees accepts inefficient,6% of employees accepts highly inefficient
and 14% of employees given the opinion of neither efficient nor inefficient for Greivance
handling system in the company.

 It is infered that 80% of employees responded yes and 20% of employees responded no
for company’s interest in entertaining new ideas and innovation from employees.

83
 It is infered that 24% of employees are highly satisfied,44% of employees are
satisfied,22% of employees are neutral and 10% of employees are dissatisfied with
superior subordinate relationship

 From chi-square it is found that there is a significant relationship between Work


Culture of the Company and interpersonal relationship between employees.

 From chi-square it is found that there is a no significant relationship between


overall satisfaction and Commitment towards Company.

 From chi-square it is found that there is a significant relationship between overall


satisfaction and aspects of job.

 From Kendall’s coefficient of concordance it is found that there is a significant


difference in the rank assigned by respondents towards the attributes that gives
them satisfaction in the company.

 From One Run Test it is found that the samples are taken randomly.

SUGGESTIONS
 Employee should be provided with proper training.
 Employee should be appreciated for good work.
 Employee should be motivated to welcome the change.
 If any changes are brought in to software or any module is added then proper
training should be given.

84
CHAPTER – 11

SUGGESTIONS AND RECOMMENDATIONS

85
SUGGESTIONS AND RECOMMENDATIONS

 The Management should take efforts in motivating the employees working in the
organization.
 The Organization should concentrate on the career development of the employees
 The job stress experienced by the employees can be reduced by increasing the manpower
in the organization.
 The management should create growth opportunities for the employees
 Grievance handling system can be made more efficient which results in increased level of
satisfaction among the employees.
 Employees should be recognized for their work. This enables a better superior
Sub ordinate relationship within the organization.
 The management should provide a better work environment which results in job
satisfaction to the employees.

1. Develop an attractive employee value proposition: An employee value proposition means


that your company has something attractive to offer that is perceived as valuable to an employee.
As an employer, you must understand what makes your organization attractive to potential
recruits and current employees. Branding yourself as an employer of choice is not just a slick set
of marketing tactics. The best advocates for an employer’s brand are its current employees. What
messages do they send to others about their employer? Are they honestly saying and believing
that, “This is a great place to work.”

2. Create a total reward structure that includes more than compensation: Every company
should have all the normal compensation mechanisms common to their type of employment. yet,
total rewards packages go far beyond money. While money might temporarily retain employees,
it does not always equate with engagement. People want a chance to make a difference and
realize themselves. That self-realization is multi-dimensional and different for each employee.
The total reward structure should include, in addition to compensation, support for employees to
attain their personal objectives aligned with the goals of their organization.

86
3. Give feedback on employee performance on a regular basis: Most managers and
employees are not enamored with the performance appraisal process in their organization. yet, an
effective performance management process serves many purposes.

4. Be flexible in terms of work-life balance: Workers more and more value a balance between
work and life. They want more flexible ways to engage with their employer. To attract and retain
workers with different work and career expectations, organizations have to be more flexible in
structuring work and its expectations. It calls for a different managerial mindset and practices
that involve letting go of old ways of controlling workers’ time and attendance in favor of result
criteria such as output, productivity and quality.

5. Create a culture of engagement: Employees have become more connected with others in the
organization (and the broader supply-and-customer chain) through project-based team work and
process management activities. Employees are shifting their loyalty to people, teams and projects
and away from company loyalty. It is organizations that create the culture and climate that allow
people, processes and projects to become fully connected and engaged with one another.
Engaged employees are more likely to stay with their employer.

6. Train managers to be effective: Exit interviews consistently show that “poor and bad”
management practices greatly contribute to an employee’s decision to leave a company. When I
teach my students about managing organizations, I have them reflect on what really matters to
employees and what they are constantly asking of their managers and their organizations. In the
end, what employees expect of their managers is fairly simple: Can I trust you? Are you
committed to excellence? Do you care about me? What people constantly ask of their
organization is: Do you tell the truth? Do you keep promises? Do you act fairly? Do you respect
me? Managers and organizations that keep these questions in mind will have a competitive
advantage over others in retaining their employees.

87
CHAPTER – 12

CONCLUSION

88
CONCLUSION
In order to retain the employees within the organization, their complaints should be resolved
immediately. Many complaints can become grievances if unnoticed. The Grievance Handling
system should be made more efficient in the organization. The employees are valuable assets to
the organization retaining them is considered to be more essential.. The organization has to
motivate the employees. Motivation increases performance level, it lowers employee turnover.
Motivation ensures stability of workforce and hence the stability of the organization. The
organization has to concentrate in career development of their employees. The increased
attention to and concern for individual careers generate more organizational loyalty and therefore
lower employee turnover. Organizations should proactively recognize the benefits of
understanding, managing and improving employee loyalty.
Retention is an important concept that has been receiving considerable attention from
academicians, researchers and practicing HR managers. In its essence, Retention comprises
important elements such as the need or content, search and choice of strategies, goal-directed
behavior, social comparison of rewards reinforcement, and performance-satisfaction. They are
quality oriented. They are more productive. Any technology needs motivated employees to adopt
it successfully. Several approaches to Retention are available. Early theories are too simplistic in
their approach towards Retention.
For example, advocates of scientific Management believe that money is the motivating factor.
The Human Relations Movement posits that social contacts will motivate workers. Mere
knowledge about the theories of Retention will not help manage their subordinates. They need to
have certain techniques that help them change the behavior of employees. One such technique is
reward. Reward, particularly money, is a motivator according to need-based and process theories
of Retention. For the behavioral scientists, however, money is not important as a motivator.
Whatever may be the arguments, it can be stated that money can influence some people in
certain circumstance. Being an outgrowth of Herzberg’s, two factor theory of Retention, job
enrichment is considered to be a powerful motivator. An enriched job has added responsibilities.
The makes the job interesting and rewarding. Job enlargement refers to adding a few more task
elements horizontally. Task variety helps motivate job holders. Job rotation involves shifting an
incumbent from one job to another.

89
CHAPTER - 13

LIMITATIONS OF THE STUDY


&
SCOPE FOR FURTHER RESEARCH

90
13.1. Limitations of study
The following are the limitations faced during the course of the study
 Due to time constraint the study is restricted only to limited respondents
 The information collected may not be accurate.
 Some respondents have not responded to all the questions.
 The data given by the respondents may be personally biased.
 Area of the study is confined to the employees in Chennai only.
 The findings of the study are subjected to bias and prejudice of the respondents.
 Time factor can be considered as a main limitation.
 The findings of the study are solely based on the information provided by the
respondents.
 The accuracy of findings is limited by the accuracy of statistical tools used for analysis.
 Findings of the research may change due to area, age condition of economy etc.

13.2. SCOPE FOR FURTHER RESEARCH


I have learnt a lot what I did not know before through finishing this report, which enrich my
learning experience and broaden my horizon of Retention strategy for employees. Drawing on
existing research, this paper proposes an overall framework of Retention strategy for employees
integration and then attempts to provide a categorization of the retention's role in the
organization, providing insights from various sectors. The purpose of this paper is to describe
and present the alternative ways that the retentions for employees in an organization.
With the above analysis it has been concluded that the organisation is at the middle level. It
performs the employee retention policies to a greater extent. The organisation has the potential
to benefit from human resources programs. The introduction of a few programs could put it in
to the ballpark of being a solid company to work for from an employee viewpoint. It covers the
programs such as (compensation, benefits, retirement, supervisor training and safety).
But some of the practices are in the written from only and yet to be applied in practical life and
with the application of such programmes the organisation will reach to the extent. Thus there
are lots of scopes to further study of performance appraisal process.

91
ANNEXURE

92
REFERENCES

BOOKS:
 Boudreau Milkovich, Human Resource Management, New Delhi, business
publications,inc:1994
 Sahu, R.K.,Training for Development, New Delhi, Excel Books,2008
 Branch, Shelly (1998, November). The new economy: You hire ‘em. But can you
keep ‘em? Fortune, 247.
 Carney, Karen (1998, November). How businesses can reduce high employee
turnover.Inc, 47.
 Denton, D. Keith (1992). Recruitment, retention, and employee relations. West
Westport, CT: Quorum
 Lynn, Jacquelyn (1997). Hard to hold: Conquer the tight labor market by retaining
valuable workers. Entrepreneur, 34.
 Spragins, Ellen E. (1992, November). How to retain key employees. Inc., 36
 Taylor, Susan L. & Cosenza, Robert M. (1997, December). Internal marketing can
reduce employee turnover. Supervision, 3-5
 The Human Factor, Feb 2011,volume 2, issue 3
 Managing Human Resources, Tata McGraw - Bohlander, Snell, 2005
 Personnel Management by C B Mamoria.
 Research Methodology – C.R Kothari
 Statistical Method by S.P Gupta
 Human Resource Management - K. Ashwathapa
 Human Resource Management C.B.Memoria
 Research methodology C.R.Kothari
 Journals, Newspaper and Internet

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WEBSITES
 www.citehr.com
 www.google.com
 www.humanlinks.com
 http://retention.naukrihub.com
 www.scribd.com
 www.hyundai-motor.com
 www.askforhrd.com
 www.orcworldwide.com
 www.entrepreneur.com/encyclopedia/term/82184.html
 www.employeeretentionstrategies.com
 www.bpoindia.org/research/retention-strategies-call-center-industry.shtml
 hrmba.blogspot.com
 mbafin.blogspot.com
 www.hr_survey.com
 https://en.wikipedia.org
 www.techrepublic.com

MAGAZINES, NEWS PAPERS & MANUALS


1) Times of India
2) Hindustan Times
3) Magazines (Published By Companies)
4) Business world
5) Business today, etc.

94