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PROJECT COORDINATOR: Mr. SAMADHAN KAMKAR
DATE OF SUBMISSION:
CHIKITSAK SAMUHA’S S.S & L.S. PATKAR COLLEGE OF ARTS AND SCIENCE AND V.P VARDHE COLLEGE OF COMMERCE AND ECONOMICS. GOREGAON- (WEST) MUMBAI- 400062.
I Mr. CHETAN AIL OF PATKAR COLLEGE OF COMMERCE AND ECONOMICS OF T.Y.BMS (Semester VI) HEREBY DECLARE THAT I HAVE COMPLETED THIS PROJECT ON “EMPLOYEE RETENTION”. IN THE ACADEMIC YEAR 2010-2011. THE INFORMATION SUBMITTED IS TRUE AND ORIGINAL TO THE BEST OF MY KNOWLEDGE.
SIGNATURE OF STUDENT: CHETAN AIL PATKAR COLLEGE
I Mr. Samadhan Kamkar hereby certify that Mr. CHETAN AIL of patkar College of Commerce and Economics of TYBMS (Semester VI) has completed project on “EMPLOYEE RETENTION” in the academic year 2010 – 2011. The information submitted is true and original to the best of my knowledge.
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SIGNATURE OF PROJECT CO-ORDINATOR
SIGNATURE OF THE COURSE CO-ORDINATOR OF THE COLLEGE
4 . It was an amazing experience working on this project and I would once again wish to thank all the people related to it for making the task worthwhile and so much fun.ACKNOWLEDGEMENTS Before going on with the project study. I would like to extend my sincere gratitude to a few people without whom this project just wouldn’t have been possible. Samadhan Khamkar for having spent considerable time and providing very useful insights and facts for my project “Employee retention”. First and foremost I would like to thank my Project Guide Mr.
RETAIN & MOTIVATE TRAINING PROGRAMS ERC'S RETENTION MODEL INTEGRATED SYSTEM FOR RETAINING EMPLOYEES 10 STEPS FOR MOTIVATING RETENTION CASE STUDY: BPL MOBILE COMMUNICATIONS LTD FINDINGS AND OBSERVATIONS RECOMMENDATIONS QUESTIONNAIRE FOR BPL COMMUNICATIONS LTD.INDEX: • • • • • • • • • • • • • • • • • • • INTRODUCTION TO EMPLOYEE RETENTION REASONS EMPLOYEES GIVE FOR LEAVING THEIR JOBS RECOMMENDATIONS FOR RETENTION INVESTING IN NEW EMPLOYEES THE 4 R’S OF RETENTION MANAGEMENT RATES: TURNOVER POSITIONS. COSTS AND FREQUENCIES. BIBLIOGRAPHY 5 . THE SECRET OF ATTRACTING & RETAINING KEY EMPLOYEES ON A TIGHT BUDGET TOP 10 TIPS TO ATTRACT. MEASURING THE EFFECTIVENESS OF RETENTION CONCEPT OF IDEAL TURNOVER RATE.
” Loyalty to a company from an employee’s perspective seems to be diminishing in today’s business world. especially if there is a perceive lack of appreciation from the current employer.” The cost associated with training new employee can be substantial. Secondly. “The negative impact employee turnover can have on service may create lost business and lead to a loss in potential earnings. they might seek other alternatives. and money in the long run.• INTRODUCTION “First companies don’t realize or ignore how much money and resources they loose with employee turnover. 6 . If the customer is not receiving the attention they generally require. downsizing and layoffs from mergers and acquisitions.” “Giving everyone a raise who thinks about leaving a company would be a financial challenge. it may be that companies anticipate some level of turnover and accept it as a normal part of business and perceive there is no solution to improve the situation. “With reorganizing.” The financial and non-financial outcomes of reducing employee turnover are significant. In the business world. The result has been people are more open to other opportunities. productivity and profit. employees don’t feel they have the job security they did in the past. Reviewing various aspects of your organization and taking appropriate action will help you reduce your organizations employee turnover. The result of this process is improved organizational performance. customer loyalty and satisfaction are the most important factors to a successful business. it will most likely motivate a person to take advantage of the opportunity. Another area of concern relating to employee retention is customer service. effort. so alternative benefits to keep their current employees should be considered to generate a higher employee retention rate. If an opportunity for higher compensation or the perception of a better work environment arises. it will save the organization time.” “Motivation and opportunity is a combination that makes a person leaves their current position. While this process requires time and effort.
A comprehensive list like this is of little value unless you use it as a guide to gather your own information as to why your workers are leaving. dislikes. In a few cases the employee is given work. It is important to know these reasons to prevent them in the future. Managers should. 4. The employee could even be unhappy with the job challenges.REASONS EMPLOYEES GIVE FOR LEAVING THEIR JOBS People often lie in exit interviews about why they are they leaving. The result is as follows: 1. interest or areas of specialization. 5. 3. know in advance who is leaving and why. of course. 7 . Harvard Business Review The Harvard business review conducted a research on the top five reasons why employees leave their jobs. 2) Level of responsibility This means the amount or the quality of the work given to the employee. 2. which does not have any authority or responsibility or an imbalance of both. Job content Level of responsibility Company culture Caliber of colleagues Salary 1) Job content This means the job description or the work employee is doing. In a lot of cases employees are put to jobs without considering their likes.
and includes such elements as core values and beliefs. including how employees interact. and in the titles given to various employees. Corporate culture is a broad term used to define the unique personality or character of a particular company or organization. corporate ethics. in the architectural style or interior décor of offices. gyms and playrooms. including options such as flexi time and telecommuting • The work environment. Corporate culture can be expressed in the company’s mission statement and other communications. or simply as “how things are done around here.3) Company culture At its most basic. many ways. such as beak rooms. and rules of behaviour. the degree of competition. its describe as a personality of an organization. day care facilities and more 4) Compensation • • • • • • • Not enough stock options / low value Not enough benefits Lack of bonuses Lack of promotions Lack of awards Low pay and…. For instance • The hours you work per day. act and feel. and whether its fun or hostile environment – or something in between • The dress code. per week. by how people address each other. Loss of possible chance of “Wealth” 8 . including things such as cubicles. A company’s culture effect in many. including the accepted styles of attire and things such as casual days • The office space you get. window offices.” It gives how employees think. by what people wear to work. which you need both on the job and to keep yourself marketable for future jobs and employers • Onsite perks. and rules regarding display of personal items • The training and skills development you receive.
CEO of Knowledge advisors recommends. nervous break down. company leaders are enhancing their internal communication programs. employees are left to guess about the future of the business.5) Lack of motivation for a particular project • • • • Lack of enthusiasm towards project Work team not cohesive Lack of communication in project team Assigned to project unwillingly 6) • • • • • Stress Impossible to meat deadlines Too many projects ongoing Long working hours Work taken home = less leisure time Family / relationship problems i.e. and give employee the opportunity to act like owners. Kent Barnet. Microsoft has reputation of being “fun places to work at. openly and consistently revisit company values. anxiety attack 7) Competitor’s work environment is a better place to work Companies such as SGI. share progress. Communication keeps employees well informed and engaged in the success of your company. 9 .” Without adequate communication.” Thus the employees relate that to more autonomy. blood pressure high. “Companies need to provide full disclosure to their employees. To combat this. 8) Lack of communication channeled in the company and thus the feeling of isolation and “in the dark” Company morale suffers when employees are left in the dark. Publish goals.
frequent two-way communication and rapport between line managers and the individual employee including rapid. + 3). Make sure that managers keep the worker continually informed about their progress with monthly “how am I doing” conversations. Use metrics. + 2).9) Life styles or work or family conflicts The employee should have problems to do with the location or timings due to personal reasons due to which he decides to leave. + 4). meetings and task forces to make retention the #1 topic of conversation. Develop measure and reward honest. climbing the corporate ladder and does not see any further up gradation in the work he is assigned. Practice open book management Access to “too much” information so workers feel they are trusted and are in “the loop” 6). Look for the opportunities to practice random acts of authentic praise and support. RECOMMENDATIONS FOR RETENTION Communication 1). + 5). Give workers praise and recognition for all of their successes. constructive confrontation on issues. Make sure that they have no surprises let them know what to expect 10 . 10) No compelling vision of the future The employee does not find hi.
7). criticize and listen to their workers. Make sure employees know why we have “a great place to work” and show them continually that the grass is not greener on the “other side”. Use outsiders / headhunters to assess who is underpaid. Do periodic “pulse” surveys to identify retention / productivity issues. Information Gathering 12). Do periodic assessments of who is “at risk” of leaving and develop strategies to keep your key employees. Identify the productivity and real business costs of loosing key employees so that managers will know the business impact of loosing employees. Periodically ask employees “why they stay” and manage to those factors. 15). 10). who is “looking” or who is targeted by competitors firms 17). Develop “smoke detectors” so you can identify and prevent potential problems before they occur 14). 9). Communicate management visions and values so that workers can better identify with and share pride in our firm and our product. 11). 16). Create the perception of relative fairness and create opportunities for conversations whenever someone questions their treatment. Developed a shared compelling vision of the future. + 13). Train mangers on how to motivate. 11 . Pay attention to workers. Ask them what they want “more of” and “less of” 8).
Measure and reward managers for excellence in interacting. Engage and develop employee ownership of retention and productivity issues. developing. Make excellence in people management a condition for remaining in a management position. + 19).Empowerment 18). Assist employees in moving and rotating to internal projects and positions. Reward and measure managers for ensuring that each employee is continually growing and learning so that they are on the cutting edge of their field. + 12 . + 24). Give them some control over their job and their life. + 20). motivation and retaining their employees. + Challenge and Growth 21). Measure and reward managers for giving each employee challenging and exiting work. Tell workers what they have a right to expect: from their managers (and vice versa). + 26). + 23). Develop “stretch goals and promote key performers” before you know that they are ready” Excellent managers 25). + 22).
29). result and performance. + 28). Make sure that every worker knows that his or her work “makes a difference”. + 34). + 35). Build the companies image so that friends and family continually look upon the firm as a great place to work 31). Rewards managers for sharing ideas and helping to mentor other managers on how to retain employees . Give employees some degree of autonomy and control of their job / life. + 13 . competencies and “key employees” so initial management efforts focus on high returns areas (forced ranking). Train an internal retention expert to coordinate retention efforts and to coach managers Their job 33). Assess the “fit” of a managers to the team before you place a manager 30). Identify. Train managers on the causes and the available tools for preventing and solving retention problems 32). Prioritize jobs.27). Develop processes that “over-emphasize” reward for success. fixed or remove bad managers.
mentor and develop others. In case of doubt. Give them the right tools to do their job. Improve the work environment. 41). Ensure that workers feels “in on things” and that they don’t feel isolated. Organize and develop teams where co-workers are committed to quality work 46). Whenever possible make coming to work fun and full of WOW’s . Educate their family and friends in the importance of their work and involve them in the retention as you make them feel part of the companies “family” 14 . Identify. Rewards teams and individuals that help. Develop a degree of cohesion and an environment that is conductive to intra-team friendships 43). + 44). 40). + 39). exceed their expectation 38). Make individual feel important and let them know we care about them as a person 45). + 37). 47). Make sure that their job is structured so that they have a clear opportunity to do what they do best. 42). Give them some control over their physical environment and make it conductive to successful performance. and mitigate things that frustrate workers and that act as barriers to productivity.36).
Treat exiting employees with class and maintain a relationship with key employees that have left our firm in the hopes they will return or refer others to our firm Rewards and Compensation 54). + 56). Measure and reward managers for increasing turnover among poor performers. + 55). Hiring. Develop high regard differentials between high performers and average performers. Offer employees a chance to share in the firms success 58). Where possible keep employees informed about their relative job security and promotional opportunities. INVESTING IN NEW EMPLOYEES 15 . + 50). Where possible. Do quarterly “what is your real value” compensation assessment of all key employees to ensure you are not significantly underpaying anyone 57). Reinforce their acceptance decision and fulfill their needs during the first month 53). Recruiting and Firing 49).48). Train and reward mangers for the continual use of non-monetary rewards. WOW new hires their first week. Reward managers for developing bench strength and having a “backfill” person for all key positions. offer key employees some possibilities for “wealth”. Hire “A” players and people that have a sense of urgency and a desire to perform 52). + 51).
absenteeism. but this often is not feasible or desirable. While this assessment process is relatively new to the professional HR literature. non-competitive compensation. annual turnover was reduced by 54% (from 168% to approximately 78%). there have not been much advancement in the field of personnel selection based on these findings. the process lowered annual turnover from 120% to 48% (60% reduction) MANAGING TURNOVER THROUGH SELECTION There are many potential causes for turnover. it is not uncommon for even mediumsized companies to lose several million dollars a year resulting from employee turnover. However. and voluntary turnover. In another organization. Job performance. there are certain causes for involuntary turnover that are associated with any specific job in a given organization (e. replacement and training are accurately compiled.An Innovative Approach for Cost-effective Turnover Reduction Turnover costs for many organizations are unacceptably high. which is based on professional researched linking various job candidates sources of personal discomfort and dissatisfaction. monotony. high stress. it has been to shown to dramatically reduce turnover rates.g. When the direct and indirect costs associated with employee separation. unpleasant physical or interpersonal working conditions. Certainly. area economic conditions. One management option for addressing the issue of employee turnover is to change the job to eliminate negative characteristics. affect general turnover rates. and poor direct supervision) that can be managed. These more general causes for involuntary turnover are difficult to direct mange. An alternative method for reducing turnover is to 16 . Although considerable research has been published in professional journals that underscores the relationship among workers preferences. In one organization where this type of process was used.. as well as other factors such as labor market conditions. This section describes an HR management tool for decreasing turnover.
If these reactions are generally positive. thus saving further hiring costs. One very promising approach for managing turnover is to identify job candidates who are more likely to have negative reaction to a given job. Unfortunately the most frequently used for identifying such negative job characteristic (e. Organization can be used information regarding negative job characteristic as part of their preemployment screening process in order to identify job candidates who are likely to have particularly adverse reactions to these characteristics. an employee is less likely to quit.screen out potential leavers during the hiring process. Job Characteristic Inventory) have little utility for making employment decision because the scoring process is relatively transparent to job applicants. 17 . and decreasing subsequent turnover.g. an employee is likely to quit. Employees in any job have conscious and unconscious emotional reactions to work. Job Diagnostic Survey. On the other hand. The assessment of employee’s sources of job-related discomfort and frustration has proven to be powerful predictor of turnover. These candidates can be screened out early in the hiring process. if these reactions are generally negative.
The degree to which employees each employee required each of this varies. Recognition Retain & Motivate Responsibility Remuneration 18 . To increase employee retention. give them responsibility. and compensate them fairly.THE 4 R’S OF RETENTION MANAGEMENT With unemployment hovering around 4% and baby-boomers aging out of the workforce it’s no surprise to anyone involved in staffing that there are more jobs than people to fill them. a company must recognize employees.
Recognition creates a corporate culture in which employees feel good about themselves. builds the individuals self-esteem. 19 . • Valued by the recipient. • Maintaining a positive attitude in the face of adversity. a company with a strong culture of employee recognition will experience lower rates of attrition and thereby increase its bottom line. employees enjoy their jobs more and have a greater sense of loyalty to the company. • Based on clearly communicated criteria. • Service anniversary. • Saving the company time or money. Recognition is the most effective / motivating when it is: • Given immediately. • Given frequently. their co-workers. and makes them feel appreciated. • Doing a particularly unpleasant task. • In line with the organization’s culture and goals. Occasions for recognition: • Job well done. Ultimately. • Doing a special favour. As a result.Recognition: By recognizing an employee a manager reinforces productive behavior. • Provided by someone of significance to the recipient. • Birthday. and their superiors.
And one of those ways is through individual recognition. with copies sent to your immediate supervisor and to the employee’s supervisor. • Instate a public platform for suggestions and implement them. • Scheduled employee appraisal sessions. and in the words of one manager. • Allowing an employee to work on an exciting project he or she would not usually work on. • Share a letter of praise or thanks from a client with the employee and the rest of the department. “hohum”. Name in the newsletter? And good night! Think that’s all employees need to feel recognized? It’s time to think again! That’s why it’s so critically important for organizations to retain to talent. • Compliment and congratulate them in front of boss and peers. Employee Recognition that Works: Say good-bye to “Employee of the Month” Bid a fond adieu to five-year pins.Ways to recognize: • Personal letter to the employee. watered – down. • Special recognition form. now more than ever. Solely recognizing employees through en-masse programs has become routine. 20 . • Appoint a high achieving employee to a company task force or focus group. • Listening to an employee’s suggestion for improvement and encouraging it.
opportunity.” Start by asking employees what’s meaningful. After you’ve recognized them in their preferred manner. an inevitable question was posed. Great recognitions programs quickly become meaningless recognition programs when we stop asking employee what they want. in meeting.At a recent management seminar. check back to see if it was truly meaningful. He then asked each person to list or her employees and then list how each employee liked to be recognized. the person that asked the question wanted employee”. The rewards that are most beneficial to ay employee are the ones they want! Find out what those might be by asking them in one or more ways. It very well may not be “stuff” at all. for doing things that are really just a part of my 21 . in writing or email. and again. trust. and so forth. visibility. Then how do you find out? The answer is deceptively simple. how they like to be recognized. “Just what is the best way to recognize employee?” Gathering all the wisdom of the past 20 years a manager answered. ask again. Here’s what one employee of a local company say’s “My manager thanks me ten times a day. Involve them in the process that affects them. author of several best-selling books including 1001 Ways to Reward Employees.. flexibility. but perhaps autonomy. Did they like it? At periodic intervals. Bob Nelson. made the following comment regarding recognition “ Raise the awareness of your managers about the importance of them appreciating their employees on a daily basis when they do good work – one-on-one or via voicemail. Not one person could definitively answer that question. “It all depends” Of course. support.
22 . It‘s not necessarily about money.job. formal programs or getting your name in the company newsletter. He is genuinely grateful for the work I do”. That means a lot to me and motivates me to work even more conscientiously. It’s all about what matters to each individual employee.
This is especially true for young people because they are more concerned with learning and creating better opportunity for themselves. In other words. Some consider it to be a de-motivator rather than a motivator. but it is undoubtedly an important factor in employee retention. Types of remuneration: • Direct pay • 401 K • Stock options • Bonus • Parking • Vacation time • Arranging employee discounts from clients or vendors. inadequate compensation is likely to deter employees. while high levels of compensation will not retain them. Responsibility: Employees have greater job satisfaction and loyalty if they feel their position is important to the bottom line of the company and required a high level of responsibility. 23 .Remuneration: The degree to which compensation plays a role in an employee’s loyalty to the company various. • Other benefits.
• Being appointed to a company task force.Examples of responsibility: • Direct work – perceived importance of assignments. While the actual losses will differ from one work category 24 . • Decision making capabilities. The time a manager spends in the selection process could otherwise be devoted to other management responsibilities of his or her everyday function. Indirect costs include the increased workloads as coworkers pick up the slack until new employees are hired and trained as well as the decreased productivity associated with low employee morale. Direct costs include the time involved in recruitment. Employee turnover is very costly to an organization and. and training of new personal as well as the costs associated with advertising expenses and manpower. takes its toll on organizational performance. • Passwords and access to secret information. productivity. Estimating the Cost of Unwanted Employee Turnover Unwanted employees turnover costs employers much more than typically realize. COSTS AND FREQUENCIES. There are direct and indirect costs associated with employee turnover. selection. RATES: TURNOVER POSITIONS. ultimately. • Management duties. and profit.
you can identify these exact costs when nonexempt employees leave: Separation Processing Costs Replacement Hiring Costs Training New Hire Costs Lost Productivity & Lost Business Costs $ $ $ $ 25 .to another.5X and 1X the salary plus benefits. (Remember making management decisions that are intended to reduce the size of an employee retention problem should be based on the known facts. this form is a reasonably accurately way to calculate the cost of unwanted employee turnover. Nonexempt employees are those in work categories covered by the Federal Wage and Hour laws governing hours of work and overtime pay eligibility.) Non exempted Employees The loss of each nonexempt employee can cost between 0. To get precise.
Total employee $________per lost 26 .
The higher the position the higher the Executives: For top management employees. This loss can be determined by multiplying the annual salary plus benefits total by IX to 25X depending on the level of the position. manage. use multiples between 3X and 5X the annual salary plus benefits. Each formula multiplies by the number of annual employee departures to determine a total turnover cost for the work group that you select. The total cost figure becomes the target of controllable turnover costs to be significantly reduced. or perform non-repetitive work within a recognized profession. Tangible Costs Exit interviewers time Exiting employee’s time Administrative expenses related to resignation Vacancy Costs Additional overtime for remaining employees Temporary help Wages and Benefits saves negative lost # Lost revenue Replacement Costs Administrative expenses related to recruitment Advertisements Headhunter fees Interviewers time Other staff time Testing expenses Travel and Moving expenses 27 . This category typically includes employees who supervise.Exempt Employees: The cost of losing employees who is “exempt” from wage and hour regulations is even greater.
Set up of new employee Medical exams for new employee Training Costs Handbooks and other literature Formal training costs Welcoming costs Time of other employees spent training Performance Differential Amount saved or cost of reference In production of new entry TOTAL TANGIBLE COST OF ATTRITION Intangible Costs Exit Costs Loss of organizational leaning Loss of knowledge and expertise Loss of relationship with clients Emotional fallout and decreased morale Decrease in culture of loyalty Vacancy Costs Increase tension and stress due to increased work loads Replacement Costs Decreased efficiency / productivity due to loss of work group synergy TOTAL INTANGIBLE COST OF ATTRITION MEASURING THE EFFECTIVENESS OF RETENTION How to Implement an Effective Employee Testing Programme? Advantages of Testing: 28 .
professionally developed tests are consistent for all applicants and they have documentation that supports their reliability and validity. and ability to learn. The costs of replacing management. Employee testing. work ethic. Testing is. 29 . Tests allow companies to obtain accurate information about other characteristics of applicants such as interpersonal style. can be one of the most valid and legally defensible tools that an organization uses to screen applicants. if done right.Many companies avoid using employee testing because of the cost of because of the fear of legal action by applicants who are not hired. executing and highly skilled talent can easily range to 1-2 times the annual salary of the person you need to replace. Reliability refers to the consistency of test results and validity refers to the accuracy of test results. Conservative estimates of turnover costs range from 1/3 –1/2 of the annual salary of the employees that you need to replace. a valuable investment for organization to make in hiring and retaining top talent. therefore. Unlike interviews. The cost of testing is minimal compared to the tremendous costs of employee turnover. The courts consider information such as reliability and validity in evaluating the fairness of the test. Another advantage of testing is that test results provide information about the applicant that is not easily obtained through other means.
It may take you longer to find a candidate using testing.IMPLEMENTING A TESTING PROGRAM Companies can implement and effective (and legally defensible) testing program by using the following six-step process. their job. 2). Identify jobs where testing might be helpful : Testing is most beneficial in positions where there is high turnover or where the consequences making a poor hiring decision are very serious. Identify testing needs based on the job and organizational requirements : Review the job and organizational requirements for the position. For high turnover positions. companies think that they should not do anything that will make it more difficult for them to find applicants. 30 . Companies who hire and retain top talent go even further to define organizational requirements for the person in that position related to the organization’s values and purpose. Define job and organizational requirements clearly. skills. Identify those requirements where information can be easily obtained through interviews. 3). and the organization. abilities. and other characteristics requires to do the job is the minimum requirement for making a good hiring decision. 1). This step is where most companies miss the boat. Identify whose areas where testing is likely to give a more accurate picture of the person’s skills. however. and accurately. A comprehensive description of the knowledge. is likely to stay with the company longer because of the improved fit between them. completely. The candidate that you select using testing.
Adverse impact is a measure that the courts use to determine if people of different groups (e. Companies should also avoid developing their own test unless they have someone who is experienced in test development and validation procedures assisting them. Measure test effectiveness : Examine various measures of individual and location performance before and after implementing the test. make sure that the people who administer.4). Also. etc. race. score. age. gender. age. and evaluate test results are trained. o Reduced turnover. gender. etc. Implement the test : Whether you implement the test company – wide or only in a specific region or division. Also. 6). continue to monitor test effectiveness annually. not on non-job related factors (e. ask for information on the development of the test and for information about the adverse impact of the test. 5). 31 . ask the vendor for information regarding the reliability and validity of the test you want to use. race. The test should discriminate only on the basis of skills and abilities required to do the job.) Companies should avoid using a test that has adverse impact. you should see objective and quantifiable of its effectiveness by such things as.g.) perform significantly different on the test. Before purchasing a test. Select a test : Obtain the names of test publishers and products from professional colleagues or employee testing professionals. Testing procedures should be consistent for all applicants for which the test is being used. If the test is effective.g.
productivity and profitability.g. validity. etc.). If you do not see such evidence of test effectiveness within the first 6-12 months of using the test. o Turnover should be 100% for the bottom 10% (our Worst performers). o Our voluntary turnover should be 10% or more below that of our closest competitors and 10% lower than our firm’s rate of last year. 32 . o Voluntary turnover should be zero for the top 10% of our best performers. CONCEPT OF IDEAL TURNOVER RATE? There are many opinions about what is the “ideal” turnover rate. o Voluntary turnover should be zero for the key jobs and key competencies that we have identified. reliability. reexamine your job requirements as well as the information related to the quality of the test (e. o Increased organization performance.o Increased quantity and quantity of employee performance. Make modification in your testing program as needed. Here is how a CEO might look at it.
o Managers that have a turnover rate (for top performers and key jobs) that is 10% above our average should be given special consulting and training help for HR. All employees of low (voluntary) turnover departments should get a bonus. what employees really want are appreciation and involvement. It surprises most managers. o The turnover rate for HR people that worry too much about turnover numbers and not about worker and departmental productivity (and its causes) should be 100%. But it's not what employees have continued to say! As shown in the following table. What Do Employees Want From Their Jobs? FACTORS Full Appreciation for Work Done Good Wages MANAGE EMPLOY RS EES 8 1 1 5 33 . Below our corporate average should be rewarded. THE SECRET BUDGET OF ATTRACTING & RETAINING KEY EMPLOYEES ON A TIGHT How can organizations draw and keep essential personnel when they can no longer afford to offer inflated salaries or fancy perks? The answer may surprise you. what do you think employees want from their jobs? Good wages? Job security? That's what managers have though… for at least the past 55 years. For example.o Managers that have a turnover rate (for top performers and key jobs) that is 10%.
retain and motivate good employees. when you had to force yourself out of bed to go to work!] What were you doing? What was special (or not special) about it? Was it the pay? The fringe benefits? Maybe.. fulfilled. the recognition from superiors? In fact. if unfortunately. nothing comes to mind – remember a time when you felt frustrated. [By the way. but not sufficient condition to attract. Or. when you couldn't wait to get out of bed and get to work! [Or. the stretching of your abilities. Are we saying – or are employees saying – that competitive wages are unimportant? Of course not. and excited about your job or a project.. it is the quality of the work itself – and of our relationships with others at work – that draws us to the best organizations and keeps us there. performing at peak effectiveness. Money usually is necessary. was it the stimulating work. money isn't even always necessary – notice how energized and enthusiastic unpaid volunteers often are.] Test this out yourself: Remember a time when you felt energized. for the first few days. Now – lest there is any doubt – this discrepancy between manager opinion and employee fact is good news – for two reasons: 34 . bored or dispirited about your job or a project. the rapport with coworkers..Good Working Conditions Interesting Work Job Security Promotion/Growth Opportunities Personal Loyalty to Workers Feeling "In" on Things Sympathetic Help on Personal Problems Tactful Disciplining 4 5 2 3 6 10 9 7 9 6 4 7 8 2 3 10 Note the glaring discrepancy between manager opinion and employee fact. being an important part of a grand venture..
Most managers don't "get it". You can win the battle for attracting and retaining talented employees – regardless of budget! 35 .1)... 2).. Increased wages and job security are precisely what many organizations cannot provide during lean times – whereas appreciation and involvement can be provided. If you do.. your organization can emerge as a preferred employer. anytime.
way down.Attracting. they are facsed with a General X workforce 40% smaller (and much more demanding) than the Baby Boomers – and the lowest unemployment rate in 30 years! Also. According to a 1998 survey conducted by Sibson & Company. preserve and nourish this blood and muscle. most corporations. the most frequently asked question put to the Society of Human Resource Management is: "How can we keep talent from jumping to our competitors?" Fortunately. many have found that they have cut. 55% of employees plan to quit or think often of quitting. This article shares with you the secret to transforming this dangerous crisis into an opportunity for your organization to flourish! Based on our research and work with employers across the country. It has nothing to do with global warming or the latest computer virus. that is – their best employees. government agencies and non-profit associations alike have exhausted whatever efficiency and cost-cutting improvements there were to be extracted from reengineering and downsizing. And they treat employees GREAT! 36 . but also much of their muscle (or even lifeblood). In fact. And. Retaining & Motivating Employees: The Realities and the Options There is a dangerous crisis in America today. every crisis contains in it – not only danger – but also opportunity. as they now look to replenish. employee loyalty is down. we're referring to the alarming diminishing ability of organizations – in every sector of our society – to survive. However. Rather. we have identified the distinguishing traits of organizations that attract. In a nutshell: 1). not only the fat. The pay ain't bad 2). retain and motivate the best employees. At a time of intense global competition.
o It is the quality of the work itself and of our relationships with others at work – that draws us to the best organizations and keeps us there. in the case of Job Quality and Workplace Support. They found that. symbolic "buck". But we won't really do work (at least our best work).) 37 . Recently. it is an intangible. while Earnings & Benefits have on only a 2% impact on job satisfaction. Job Quality and Workplace Support have a combined 70% impact. That's a 35 times greater bang for the buck! (Though. the Families and Work Institute published the National Study of the Changing Workforce – the most comprehensive research ever conducted in this area. unless something else is present. You and I will go to work for a paycheck and benefits plan. Frederick Hertzberg and Peter Drucker – have maintained for decades o Money is necessary – but not sufficient condition – to attract.Recent landmark studies confirm what theoreticians and management gurus such as Abraham Maslow. retain and motivate good employees. performing at peak effectiveness.
For Performance. however. Retention and Performance. Job Demands (that is stress factors such as overtime and deadlines) have a negative impact – 38 .Factors Impacting Job Satisfaction And. the findings were similar for factors impacting Employee Loyalty.
if you want to transform the danger into an opportunity for your organization to flourish and make money – pay your employees with more than just money! 39 . and 27% higher profits! Satisfying employees. by ensuring that they have meaningful work and are treated well. is not only a nice thing to do. But. high employee satisfaction) have: • • • 38% higher customer satisfaction scores.comparable to the positive impact of either Job Quality or Workplace Support. They found that organizations where employees have above average attitudes toward their work (that is. it makes good business sense. let's suppose that employee retention is not a problem for your organization and you're not convinced that employee satisfaction has much impact on the bottom line. So. 22% higher productivity. Then consider this: A recent survey conducted by the Gallup organization researched the Impact of Employee Attitudes on Business Outcomes.
Do not tolerate sustained poor performance – coach and train or remove! 6). Involve employees in plans and decisions. Treat each and every employee with respect. Solicit their ideas and opinions. with promotions and opportunities) 5). RETAIN & MOTIVATE 1). • Recognize performance appropriately and consistently: • Reward outstanding performance (e. NEVER criticize in public – redirect in private. not just as workers. Encourage initiative.then get them to forget about money. Create opportunities for employees to learn and grow. especially those that affect them. Pay employees fairly and well . 7). responsibilities and expectations. Clearly communicate goals.g. 40 .TOP 10 TIPS TO ATTRACT. 3). Link the goals of the organization with the goals of each individual in it. Praise accomplishments and attempts… • Both large and small • At least 4 times more than you "criticize" • Publicly and in private • Verbally and in writing • Promptly (as soon as observed) • Sincerely 4). Show them that you care about them as persons.. 2).
8). Actively listen to employees concerns – both work-related and personal. 9). Share information promptly, openly and clearly. Tell the truth… with compassion. 10). Celebrate successes and milestones reached – organizational and personal. Create an organizational culture that is open, trusting and fun! TRAINING PROGRAMS Rekindling Organizational Loyalty: Attracting, Retaining & Motivating Employees The most frequently asked question put to the Society of Human Resource Management is: "How do we keep talent from jumping to our competitors?" This program provides in-depth answers to that question and many others! Emphasizing the importance of day-to-day benevolent treatment of employees to elicit both outstanding performance and organizational loyalty, the Grimmes share the secrets of the most successful employers. Classic motivation theory is linked to recent landmark studies, providing the foundation for immediately applicable techniques to attract, retain and motivate your staff. Dynamic presenters incorporate interactive exercises, powerful visual aids, and information-packed handouts to deliver cutting-edge programs that give your organization the tools and insights to create long-term change. Available in a variety of formats and lengths.
ERC'S RETENTION MODEL Employee Retention Connection's decades of applied organizational experience indicate three primary drivers of employee retention:
1. Stimulating Work • Variety of assignments • Autonomy to make decisions • Resources and support provided to do good work • Opportunity to learn
Feedback on results Understanding the significance of one's personal contributions
2. Motivational Leadership • Champion change and are open to new ideas • Inspire a share vision of organization direction • Motivate and recognize contributions • Develop the capabilities of others • Model behavior that reflects organization values 3. Recognition & Reward • Say "Thank you" for a job well done • Reinforce desired behaviors • Create an emphasis and focus on recognition • Celebrate successes • Build self-esteem • Enhance camaraderie and teamwork INTEGRATED SYSTEM FOR RETAINING EMPLOYEES The Employee Retention Connection transforms your organization culture and enhances your competitive edge through the following fivephased approach:
Phase 1: ERC begins by analyzing your organization's motivation and retention culture through surveys and focus groups. What are the motivating and demotivating aspects of your culture? Phase 2: ERC next designs high-involvement job and work assignments that include: • • • • • Wide variety of tasks and skills Opportunities to learn Authority to make decisions Feedback on results Resources and support to be successful 44 .
Phase 3: ERC trains supervisors and managers in proven methods of motivational leadership: • • • • • Inspiring a shared vision and direction Developing the capabilities of others Promoting organizational change Recognizing and appreciating employee contributions Serving as a role model Phase 4: ERC delivers a plan for employee career paths and skill building: • Designing career paths. not necessarily up the organizational chart • Identifying core competencies for different career paths • Planning training and other opportunities to build competencies • Mentoring for employee direction Phase 5: ERC builds a tailored reward and recognition system to fit your organization's culture: • Identifying activities. attitudes and contributions to be recognized and rewarded • Matching reward and recognition options to performance contributions • Establishing specific motivational approaches for retaining employees 45 .
i. Recognize the contribution of part-time employees with fulltime status. lunch. 46 . i.. 3). one-year anniversary with photos. Provide pay rate increases or bonuses for service periods. 7). 3 months. and 1 year. Assign each employee a committed and positive mentor/buddy. 2). 6 months. Frequently and personally express appreciation to employees. 5). Invest in employees by providing training opportunities. etc.10 STEPS FOR MOTIVATING RETENTION 1). Pay equitably and provide competitive benefits. 6).. 4).e. Celebrate service milestones.e.
CASE STUDY: BPL MOBILE COMMUNICATIONS LTD For the purpose of this project. newsletters. 9). I have done a survey for BPL Mobile Communications by the way of Questionnaire and In Depth Interviews. The sample size was selected on the basis of the following calculationsStrength of the company: 450 employees According to the market research theory a 1 or 3 % sample should be taken i. etc.8). Know your employees and their life changes. Connect with the employees' families by sending family welcome gifts. 10). 47 . The aim of this section is to find out how retention works differently in practical situations and how companies need to customize their strategies to meet their employee specific needs. 4 – 8 employees.e. Promote from within. The company has following departments Human Resource Administration & Personnel Operations (Vertical) • Sales • Marketing • Customer management team • Finance • Information Technology The sample size of the survey is 20 people plus 4 in depth interviews.
In this case study I have answered questions like• • • • Are the employees’ happy working in the organization? Do the employees trust their company? Are the employees’ satisfied working in the organization? What is that factor which has been the reason to retain in the company? • Does the company follow any work culture? And many more At the end of the survey Findings. Pondicherry. BPL Mobile. Kerela and Tamil Nadu . Customers. by focusing on People. BPL Mobile has consistently demonstrated its technological leadership by providing world class technology like QualNet. Goa. Today.But to avoid bias and to get more information a sample of 20 is taken. In a subject like retention qualitative data is also required thus I have taken 4 depth interviews. Technology. India's premier mobile phone service provider continues as the leader of the WireFree World with over 1. Having started its services in 1995. BPL Mobile operates in Mumbai. About the company BPL Mobile is committed to business leadership in providing world class technology services and solutions. and passionately driving Excellence throughout the organization thereby creating Value.with a network spanning across 207 cities currently. Observations. GPRS. Standing tall as the first 48 . and MMS amongst others to its subscribers.2 million subscribers. Intelligent Network. This achievement is a result of BPL Mobile's philosophy to give the consumer a truly world class wirefree experience through investment in superior technology and infrastructure which supports a basket of innovative services to bring international class products and services for the user of today. Analysis and Recommendations are given. Maharashtra.
processes and infrastructure to the needs of the customer. hence providing all employees with the required training and support to do their jobs and do them well. its people. Pondicherry & Goa. in its commitment to the Customer First ethos. Human resource within the organization is suitably empowered to respond to the needs of the customer. Our vision: To be the leader in Indian Wireless Industry.5G network in the country. BPL Mobile has successfully leveraged its Rs. 4000 crore investment in advanced technology to provide strategic coverage solutions in over 207 of the most important cities in the circles of Mumbai. The ability of the company to think aggressively and to think ahead has been the one factor that has propelled it into the unassailable position that it is in today. organization and systems to ensure Customer Satisfaction and Business success.true 2. Tamil Nadu. BPL Mobile has aligned the organization. Also. Committed to using the latest technological advancements in order to increase customer convenience and reliability. Kerela. This is in tune with BPL Mobile's motto of providing Tomorrow's Technology Today. Maharashtra. BPL Mobile has consistently been the leader in establishing newer standards in mobile telephony. Using technology as the chief differentiator in offering quality service and creating value for the brand are some of BPL Mobile's significant achievements in revolutionizing the mobile industry in India. Corporate Mission: Given the immense opportunities we have in the Telecom service Business. our goal is to set up a world class team. Mission Statement: 49 .
BPL Innovision Group is committed to business leadership in providing world class services by focusing on People. Recognize that customer has a choice Technology State of art Superior and premium Innovative Excellence Do it right the first time Committed to continuous improvement Passionate about quality Progress through creativity Values Exist for customers Aggressive about growth Highly flexible Committed to teamwork Accountable for all actions Nurture diversity Freedom to make right mistakes Transparency in all actions Creating shareholder value Creating economic value 50 . Technology & passionately driving excellence throughout the organization thereby creating Value. Customers. processes & products create value. Five Pillars that hold aloft the Mission: People Driven by values Totally empowered Completely aligned Customers Customer first mindset and philosophy Ensure strategies.
FINDINGS AND OBSERVATIONS 51 .
40 40 .50 50 .Age Group 46% 7% 20% 27% 20 .60 Purpose of the question The aim of this question was to find out the age group that exists as the maximum in the organization Findings The maximum number of employees exists in the age bracket of 20-30 years.30 30 . 52 .
approximately how much work experience do they have. i.10 years 10 .e.15 years 15 . Findings Most of the employees did not have any work experience apart from BPL Communications. As they are able to attract new employees and young blood full of energy into the organization. Maximum numbers of employees were all freshers in the organization. The question also threw light on which organization did they work earlier at and at what level. They are able to employee 53 .20 years Purpose of the question The purpose of this question was to find out on an average what type of employees joins the organization. Analysis As very few have no work experience apart from BPL which shows more or less positive sign.Work Experience Before BPL 8 6 4 2 0 No Work Experience < 1 Year 1 .5 years 5 .3 years 3 .
Findings The company has most of the employees who are 5-10 years and 2-5 years old.10 years >10 years Purpose of the question This question aims at the finding the number of years that the employees stayed in the organization. Work Experience at BPL < 1 year 1 . There are barely very few employees of less than 1 year and more than 10 years.these freshers so that their new ideas with good sophisticated strategies and skills which are required in today’s competitive market of mobiles. This would also reflect on the company’s recruitment planning. This would prove out to be a negative sign for recruitment. Mostly employees of the category more than 10 years were all the higher officials. A lot of young bloods coming in the last 3 years have been recruited.5 years >10 years 5 . Also 54 . Analysis Due to the fact that the company has more of the youth in their company. This would directly speak on the retention of the company.2 years 2 .10 years 2-5 years 1-2 years <1 year 5 .
They don’t find any discrepancies in working together and helps in avoiding any fights or disputes between them thus enabling them to work for the organization in harmony.e. Infact the staff of BPL being more or less of the same age helps the employees in developing a good rapport between them. i. 55 . Current Job Titles 5 4 3 2 1 0 Junior officer Senior officer Assistant Deputy manager manager Manager Senior manager General manager Director Others Purpose of the question The intention was to take the survey all through the organization. Findings Majority comprised assistant managers and managers due to the vacancies existed or due to short term of their service.the employees working for 5-10 years have retained in the company. This can be counter checked by the fact that most of the employees (46%) lie between the age group of 5.10 years. from the junior officer level to the vice president level.
But there exits a few who think that they have a lot of responsibility than what is required. As responsibility given can be important criterion for retention as this question holds a lot of importance. Findings Most of the employees are satisfied with the amount of responsibility they are given.Delegation of Responsibility 10 5 0 Wants More Gets Less Wants Less Gets More Satisfied Purpose of the question The purpose of this question was to find out how much responsibility the company gives and how much is expected by the employees. 56 .
Analysis Responsibility means the amount or the quality of the work given to the employees. In a few cases the employee is given work. Findings 57 . Training Given 7% 15% 50% 28% Poor Fair Good Excellent Purpose of the question The purpose was to see the satisfaction level of the employees with the amount of training given by the organization to sharpen the employees` skills and motivate him/her towards the work done by him/her which would help the employees to perform their tasks better and increase productivity too. The employee could even be unhappy with the job challenges. Only this people who either want more or have more responsibility have to be taken care of. which does not have any authority or responsibility or an imbalance of both.
The employees are willing to go for training programme to enhance their skills.It was found that the company is rated high at this attribute. 58 . But there seems that the employees are really happy and contended with the training given to the employees. The training given to them were successful over a period of years and have helped employees to enhance their skills in a better way.
Analysis Evaluating employee training and development activities is a must. Training employees in the skills they need to successfully perform their job will contribute to the overall success of the organization and improve the productivity and morale of the employees. Though the perception varies from walk in to formal systems.In Fairly Open Formal Strict 0 2 4 6 8 10 Purpose of the question The purpose was to find out the communication process in the organization. Communication Channel Walk . It was to see whether the communication channel causes any problem. This is taken into consideration at BPL Mobile Communication Ltd. 59 . The training provided is very minimal and the employees are satisfied with this. Findings The communication channel is fairly open.
it is important for this idea of a fairly open communication and the formal communication (80%) to shift towards the walk in type of a channel of communication.Analysis Company morale suffers when employees are left in the dark. 67% of the employees feel that their career path is been discussed at regular intervals. ideas and concerns. The 60 . Employees feel valued and respected when they can ask questions and share their thoughts. Though this does seem to be the issue with BPL Mobile. This can prove to be very effective medium for motivating the employees and providing them a scope to grow in the organization. Career Path Discussed 67% 33% Yes No Purpose of the question This question would indicate the amount of interest the company holds for the employees` future Findings It was found that at BPL Mobile career paths are given due importance.
This gives the employee the idea that the organization ‘cares’ for the employee. he is motivated to 61 . Career Path Reviewed 10 8 6 4 2 0 0 1 Once in 6 months 2 3 4 5 Once a Year Once in 2 years Only During Promotions Purpose of the question To find out that if at all careers are discussed.employee is happy as he feels he is important for the organization and this could help in retaining the employee in the organization as well as achieving the goals and objectives assigned to him. how often are they reviewed? Findings Career path is reviewed for the employees of BPL Mobile at least once a year. which is a very healthy sign for the company. Analysis If the employee finds him/her climbing the corporate ladder and does see any further up gradation in the work he is assigned.
But at BPL Mobile. The organization needs to review with each employee where in the ladder can he reach. how can he reach there and how soon can he be there.stay in the organization. In most organization this process is directly linked to the remuneration of the employee. this process is quite successful. This interest that the organization would show would motivate the employee to stay in the organization. Analysis Performance appraisal is a way to recognize the work done by the employees. Findings The major chunk of the employees (74%) is satisfied with the appraisal process. By recognizing an employee a manager reinforces productive 62 . Performance Appraisal 26% 74% Satisfied Not Satisfied Purpose of the question It was to find out the satisfaction level of the employees in context to their performance appraisal process.
Corporate culture can be expressed in the company’s mission statement and other communications. Recognition creates a corporate culture in which employees feel good about themselves. act and feel. in the architectural style or interior décor of offices. it’s described as the personality of an organization. Corporate culture is a broad term used to define the unique personality or character of a particular company or organization and includes such elements as core values and beliefs. employees enjoy their jobs more and have a greater sense of loyalty to the company. corporate ethics and rules of behavior. and their superiors. or simply as “how things are done around here”. by how people address each other. Analysis At its most basic. and makes them feel appreciated. Findings It is found that the work environment that consists of freedom to work and no harassment is the major reasons why the employees are still in the organization. Purpose of the question This was to find the company’s core competency.behaviour. 63 . and in the titles to various employees. As a result. builds the individuals self-esteem. Responsibility given is still another important reason. by what people wear to work. This would tell the company it’s strength and thus help in retaining. their co-workers. It guides how employees think.
In today’s competitive world each and every employee of an organization is given a lot of responsibility to do so that each and every employee contributes to the quality and profits made by the organization. But at times a lot of responsibility may prove out to be a negative impact on the employees as they may think that a huge chunk of work is done by employees themselves as a result they may not be able to do their work on time due to the large amount of responsibility on them. This leads to a positive sign as the company is making its employees efficient and capable enough to discharge its duties in a proper manner and completion of a certain task on time.RECOMMENDATIONS The recommendations are completely based on the research done at the organization based on the questionnaires filled and the in depth interviews taken. The employees of this company are satisfied with the 2 Rs that are remuneration and recognition but the third R is more than the desired proportion. I would recommend on the positive as well as the negative sides of the company in order to retain the employees. One of the best ways to handle this problem is a monthly or quarterly checkup of the work done by the employees and the management should 64 . It may affect their morale and demotivate the employees because of a lot of responsibility upon them. There could be a few recommendations that the company should look upon but nevertheless the company is already in a good position in retaining the employees but there are certain points which the company should lay more importance as it may help the company to solve certain issues in future with regard to the employees. The most important and a must is the issue of responsibility.
A Quote from the employee: “Appraisal is done since the last 4/5 years. Employee’s performance is discussed by the senior officer in a very informal way which makes an employee comfortable and discuss the matters on an face to face basis. It’s not always possible to promote everyone in the organization but it is definitely possible to explain this and tell the employee when and how will he climb the corporate ladder. Reviewing it on a 6 monthly basis shows a very good sign of the company.” 65 .make it a point that a moderate amount of work is given to each and every employee. The company believes. “the training carried out in the company is very helpful and a motivating factor for all the employees as it enhances an employees capabilities thus making him efficient than before” Career Aspirations Career aspirations. as they are able to look after the employee’s growth in the organization. “ it is a must to realize that the expenses done on training and development would indirectly save on the organization cost and help to retain the people in the organization” Company provides training may it be technical or even general like training on communication or personality development skills that can enhance the employees and motivate the employees towards their work. career goals of the employees are discussed. Importance of training The training and development given to the employees are given adequate importance in the organization. A Quote from an employee. No excess work to be given to an employee. The employees are made to feel important. The employees are really happy and satisfied with the training and development given by the company. Career goals are reviewed once in 6 months.
and includes such elements as core values and beliefs. and in the titles given to various employees. in the architectural style or interior décor of offices. Corporate culture can be expressed in the company’s mission statement and other communications. Analysis At its most basic. this being the company’s greatest strength. The employees are more than happy with the work culture of this company. the employees gel with the culture and are satisfied with the work environment. or simply as “how things are done around here. corporate ethics and rules of behaviour. by how people address each other. 66 . At BPL Mobile Communications. The employees are comfortable working in the organization and this can enhance the company strength in the competitive market by keeping the employees happy. it’s described as the personality of an organization. act and feel. Stick to work culture This has been the strength of the company. by what people wear to work.” It guides how employees think. This should not be changed. Corporate culture is a broad term used to define the unique personality or character of a particular company or organization.
Thanking you. I am a student of Bachelor of Management Studies TYBMS (5th semester). 67 . The survey is completely for educational purpose. It would be of great help if you would spare some time answering these questions. For the purpose of the curriculum I am undertaking this project the objective is to find out retention strategies for a company. Chetan Ail Patkar college. Name: Age: • Gender: Male Female Work Experience apart from BPL Communications Ltd.QUESTIONNAIRE FOR BPL COMMUNICATIONS LTD. Ms.
(tick the applicable answer) Less than 1 year 1-5 years 5-10 years 10-15 years • Your position in the organizational chart (tick the applicable answer) Junior officer Senior officer Assistant manager Deputy manager Manager Senior manager General manager Director Others • Your current job title 68 .Name of the Organization years Job Title No of • Work Experience with BPL Communications Ltd.
of people in you come in contact with in your organization while performing your regular job (tick the applicable answer) 1-5 5-10 10-15 15 and more • Level of responsibility assigned to you( tick the applicable answer) high moderate low very low • What other motivation schemes does your company offer? • Which was the most rewarding job recognition given by your company that has motivated you the most? • What extra benefits you get from your company? (tick the applicable answer) Pension plan Bonus Vacation Involvement in management decisions Access to company passwords Others • Do you have a clear perception of your role in the organization? Yes No If No then Why? 69 .• No.
• Does the company provide the extra training that can help you sharpen your skills or perform your task in a better way? (tick the applicable) Poor Fair Good Excellent • What type of communication channel exits in your company? (tick the applicable) Walk in anytime Fairly open system Formal system Very strict • Are your career goals discussed or considered? (tick the applicable) Yes No If. Quarterly • Are you satisfied with the appraisal system of your organization? (tick the applicable) 70 . yes how often are they reviewed? (Tick the applicable) Once in 6 months Once in a year Once in 2 years Only on time of promotions • How often is performance appraisal done in your organization?(tick the applicable) Once in 6 months Once a year Once in 2 years.
• Rate what is the most important to you? (3.least important) Recognition Remuneration Responsibility Thank you for spending your precious time!!!!!! 71 . Yes No If No then Why? • Give the best three reasons why you are working as an employee of your company? • Comment on your company culture.the most important and 1.
count your blessing. It was too good to pass up. Money is the most common primary reason given as to why people leave jobs. Sound familiar? If it doesn’t. Real reasons? Often. no. most people don’t start looking for a job because they want more money. and that gets-soonto-be ex-employee (STBEE) started on a job search. You might leave too if you were offered a 25% pay rise! However. all of us as HR professionals can play a critical role in retaining employees. Reasons. the icing on the cake comes with an eventual offer that turns out to be more (sometimes much more) than he or she making at the current job. Retention is the issue that most company wrestles with. yes. But if it does. There is usually more source of dissatisfaction. then you are probably in good company…because these are a just few of the common reasons people give as to why they left their jobs. An effective way to gather this information is through exit interviews. It’s our job to examine and analysis why people leave and we can do to prevent it. Its more challenging job. The money was better. 72 .EXIT INTERVIEWS Where Have All The Employees Gone? I had a better offer. and in light of the fact that unemployment is at a 24 year low. So what is the source of dissatisfaction that started this ball rolling? Five ways to make the exit interviews more effective. For the STBEE.
Never promise confidently. you can’t promise something that you cannot control. Typically. but like the investigation. “What are you getting through your new offer that you weren’t getting here”. Always ask for examples or specifics. Build rapport through making the interviews conservation. and the departing employee may say. Ask follow-up “why did you leave” question. Therefore we have not had the opportunity to meet the person or establish a relationship. Timing and personality (and judgment) are everything…well almost everything. The person the STBEE speak will also make the difference. and allow you to cover all areas without being rigid. “I got better offer”. For example. This will help to keep things conservational. 2). the HR person or supervisor conducts the interview. Don’t wait too long after the person leaves to conduct the interview. If they say they didn’t like working with certain people. discrimination and unethical or unfair labour practices that requires immediate action. Employees are sometimes reluctant to talk while they are still employees. If a person says they didn’t like the office environment. “why did you leave your job?”. Firing off questions only puts up barriers. Some follow-up question would then be. “what caused you seriously consider the new offer”. Also find out if there was a “defining moment” or “the straw that broke the camel’s back”. Often. 5). the response that the person left for more 73 . Specifics can go a long way to sort our whether it is a “feeling” the department employee has or a legitimate issue. 4). Use a standard list question for each interview. The majority of interviews we conduct are by telephone. There are issues that can arise during the course of an interview. not a standard order of questions. Give this some thought…is the person conducting the interview the person who can get the best information? Are these barriers (personality or otherwise) that might prevent honest information from being discussed? 3). ask for example of what they didn’t like. However sometimes its best to wait until their last official day. ask what they specifically didn’t like about working with this people. such as harassment. “What was better about the offer”.1). you may ask. Assure the person you will maintain confidentiality.
Find out what that blank is! EXIT INTERVIEW Name of Employee: B.money is really a statement of “you don’t pay me enough to deal with (fill in the blanks). then what are your plans after leaving BPL Mobile? Grade: Age: Location: Date of Separation: 74 .U. / Function: Date of Joining: Reasons for the Separation: If you are resigning.
JOB TRAINING & COMPANY SUPERVISION Any other factors which you would like to give your views on… DATE: Signature of the Employee PLACE: Remarks of the Exit Interviewer: 75 . REMUNERATION SATISFACTION DESIGNATION DEVELOPMENT LOCATION POLICIES CAREER GROWTH ORGANISATIONAL STRUCTURE Please explain any of the above factors that scored less than three.Were you satisfied with the following areas? Please indicate on a 5point Scale.
Name and Signature of the Exit Interview BIBLIOGRAPHY 76 .
com www.com www.Books and magazines Human resource management and personnel management –by Asawathapa Business world Business today Websites www.notjustsurveys.guide.hrzone.humanlinks.com www.com www.hrfolks.com 77 .com www.hr.hrworld.
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