Employee Retention MGNT

GPCET (2009-2011) ASSOCIATE ENGAGEMENT WHICH LEADS TO RETENTION
INTRODUCTION TO HRM
The most valued assets of an organization are the people who directly or
indirectly contribute to achieving the various business objectives laid down by the
organization. Human Resource Management is a very strategic approach to managing
these most valued assets. No organization can function without the human resources
as they form the basis of any organization. In the wide sense Human Resource
Management means selecting and employing the right people for the right jobs,
developing their resources by training and development to match the needs of the
organization, utilizing their skills and maintaining them to benefit the organizational
needs and also providing them compensation that matches their services and also the
organizational requirement.
The goal of Human Resource Management is to help the organization to

attract and maintain the right talent, and manage them effectively and efficiently to
meet the strategic organizational goals. In the words of Miller, a Human Resource
Management approach seeks to ensure a fit between the management of an
organization’s associates, and the overall strategic direction of the company.
The basic theory of Human Resource Management is that humans are not
machines and therefore one needs a more critical examination at a workplace. In
Human Resource Management, a number of fields come into play namely,
psychology, organizational psychology, sociology, legal studies, industrial relations
etc. Today, Human Resource functions are much beyond the basic administrative
functions. They are now seen as reactive rather than proactive partners for the top
level management. The Human Resource functions have now become revenue
generating rather than just support functions.
Human Resource Management includes several processes. These processes

are generally undertaken by the Human Resource Department of the organization.
These include:
MBA Page No:1

 Planning the workforce

 Recruitment
 Skills Management
 Training and Development
 Payrolls
 Associate Benefits
 Performance Appraisals
 Time and Travel Management
 Personnel Cost Management
INTRODUCTION TO RETENTION
In the era of global business, quality of human resources, skilled and

knowledgeable associates are highly essential. It is frequently noted that quality
human resources act as a prerequisite for competitive advantage and competitive edge
of any business. Genius begins and labor finishes is an age old said that would be
profoundly significant if interpreted in the context of the corporate and larger
associates. Associate retention is a process in which the associates are encouraged to
remain with the organization for the maximum period of time or until the completion
of the project. Associate retention is beneficial for the organization as well as the
associate.
Associates 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 associates. If they don’t, they would be left with no good associates.
A good employer should know how to attract and retain its associates. Hence now
days the word retention is being chanted by the HR managers in almost all the
companies.
MBA Page No:2

ASSOCIATE ENGAGEMENT
Associate engagement is a concept that is generally viewed as managing

discretionary effort. Associate engagement is a positive attitude held by
the associate towards the organization and its values. An engaged associate is aware
of business context, and works with colleagues to improve performance within the job
for the benefit of the organization.
The organization must work to develop and nurture engagement, which
requires a two-way relationship between employer and associate. The primary
behaviors of engaged associates are speaking positively about the organization to co-
workers, potential associates and customers, having a strong desire to be a member of
the organization, and exerting extra effort to contribute to the organization’s success.
Many smart organizations work to develop and nurture engagement. It is important to
note, the associate engagement process does require a two-way relationship between
employer and associate.
Features of associate engagement:
• Understanding of business context and the ‘bigger picture’

• Respectful of, and helpful to, colleagues
• Willingness to ‘go the extra mile’
• Belief in the organization
• Desire to work to make things better
• Keeping up to date with developments in the field.
Diagnostic tools of associate engagement

• Training and development
• Communication
• Equal opportunity
• Fair treatment
• Pay and benefits
• Health and safety
MBA Page No:3

• Cooperation
• Family friendliness
• Job satisfaction
• Immediate management
Why is Associate Engagement Important?
An organization’s capacity to manage associate engagement is closely related

to its ability to achieve high performance levels and superior business results.
Engaged associates will stay with the company, be an advocate of the company and
its products and services, and contribute to bottom line business success. Engaged
associates also normally perform better and are more motivated. There is a significant
link between associate engagement and profitability. Associate engagement is critical
to any organization that seeks not only to retain valued associates, but also increase its
level of performance.
Factors of Engagement
Many organizational factors influence associate engagement and retention such as:
• A culture of respect where outstanding work is valued
• Availability of constructive feedback and mentoring
• Opportunity for advancement and professional development
• Fair and appropriate reward, recognition and incentive systems
• Availability of effective leadership
• Clear job expectations
• Adequate tools to complete work responsibilities
• High levels of motivation
Many other factors exist that might apply to your particular business and the
importance of these factors will also vary within your organization.
MBA Page No:4

MBA Page No:5

RETENTION MANGEMENT
Retention management is the latest and most pressing problem of the new
Millennium. Each and every business in this economy has now become knowledge
based. It has therefore become it’s essential for the top management to preserve the
dynamic repositories of learning, which are their associates.
Today, businesses across all sectors, sizes and statures now use a variety of
techniques and policies to retain their people. There is little that a company will not
do to keep its people. Be it career counseling, conflict resolution programmes or even
welfare management, companies are ready to go to any extent possible to retain their
associates. In today’s market, a manager who has innovative retention strategies to
offer to the organization is the one who would be winning the war.
People are the backbone of an organization, hence the need to put more effort
in retaining performing associates. Staff retention in the current economic
environment is a major challenge. The major focus for associates in a hyperinflation
environment is survival. If the organization cannot provide enough to enable the
associate to survive, the associate is likely to look elsewhere for survival. However if
organizations manage to identify causes of staff turnover that they can control, they
should target those areas for change or making improvements.
Unless IT companies treat retention of good associates as a business priority,

they will find themselves incurring huge costs in replacing these associates. However
we need to acknowledge that retention is difficult to focus on because so many factors
affect it, and organizations cannot easily change all of them. Associate Retention
involves taking measures to encourage associates to remain in the organization for the
maximum period of time. Corporate is facing a lot of problems in associate retention
these days. Hiring knowledgeable people for the job is essential for an employer. But
retention is even more important than hiring. There is no dearth of opportunities for a
talented person. There are many organizations which are looking for such associates.
If a person is not satisfied by the job he’s doing, he may switch over to some other
more suitable job. In today’s environment it becomes very important for organizations
to retain their associates.
MBA Page No:6

Associates stay and leave organizations for some reasons. The reason may be
personal or professional. These reasons should be understood by the employer and
should be taken care of. The organizations are becoming aware of these reasons and
adopting many strategies for associate retention.
Pay and Benefits:

Compensation constitutes the largest part of the associate retention process.
The associates always have high expectations regarding their compensation packages.
Compensation packages vary from industry to industry. So an attractive compensation
package plays a critical role in retaining the associates. Compensation includes salary
and wages, bonuses, benefits, prerequisites, stock options, bonuses, vacations, etc.
Career Growth and Development:

Growth and development are the integral part of every individual’s career. If
an associate can not foresee his path of career development in his current
organization, there are chances that he’ll leave the organization as soon as he gets an
opportunity.
Work profile:
The work profile on which the associate is working should be in sync with his
capabilities. The profile should not be too low or too high.
Personal growth and dreams:
Associates responsibilities in the organization should help him achieve his
personal goals also. Organizations cannot keep aside the individual goals of associates
and foster organizations goals. Associates’ priority is to work for themselves and later
on comes the organization. If he’s not satisfied with his growth, he’ll not be able to
contribute in organization growth.
Training and development:
Associates should be trained and given chance to improve and enhance their
skills. Many employers fear that if the associates are well rained, they’ll leave the
organization for better jobs. Organization should not limit the resources on which
organization’s success depends.
MBA Page No:7

Work Environment:
Sometimes the relationship with the management and the peers becomes the
reason for an associate to leave the organization. The management is sometimes not
able to provide an associate a supportive work culture and environment in terms of
personal or professional relationships. There are times when an associate starts feeling
bitterness towards the management or peers. This bitterness could be due to many
reasons. This decreases associate’s interest and he becomes de-motivated. It leads to
less satisfaction and eventually attrition.
The many challenges that managers and human resource practitioners face
today need a concerted effort by all those concerned with the management of human
resources in the organization.
To highlight this, the statistics got from the first ever survey national survey
conducted by All India Management Association (AIMA) can be analyzed. The
companies were divided into 4 sectors, namely, manufacturing, services, marketing
and hi-tech in order to allow intra industry comparisons. Also, two criteria were
placed to decide on whether the company was eligible for the survey or not, the
company should have a minimum turnover of 25 crore rupees and an associate
strength of above 50. 135 companies participated and their responses were analyzed
to understand the most prevalent policies and practices in retention management.
Statistics show that 3 out of every 5 software companies and almost 1 out of every 2
manufacturing companies have serious issues relating to retention. Facts also reveal
that, 90 per cent of the companies have some or the other problem with respect to
retentions. Retention problems are more acute in SAMEs (Small And Medium
Enterprises) with turnover of less than 100 crores and headcount less than 100. There
are two reasons that can be attributed to this. Firstly, due to lower number of
associates on the rolls, the departure of one makes a significant difference. Also,
larger companies can provide higher monetary and non monetary compensation which
cannot be afforded by the SAMEs.
MBA Page No:8

RETENTION
Associate Retention involves taking measures to encourage associates to

remain in the organization for the maximum period of time. Corporate is facing a lot
of problems in associate retention these days. Hiring knowledgeable people for the
job is essential for an employer. But retention is even more important than hiring.
There is no dearth of opportunities for a talented person. There are many
organizations which are looking for such associates. If a person is not satisfied by the
job he’s doing, he may switch over to some other more suitable job. In today’s
environment it becomes very important for organizations to retain their associates.
The top organizations are on the top because they value their associates and
they know how to keep them glued to the organization. Associates stay and leave
organizations for some reasons. The reason may be personal or professional. These
reasons should be understood by the employer and should be taken care of. The
organizations are becoming aware of these reasons and adopting many strategies for
associate retention.
Associate retention is a process in which the associates are encouraged to
remain with the organization for the maximum period of time or until the completion
of the project. Associate retention is beneficial for the organization as well as the
associate.
Whereas associate retention refers to the various policies and practices which
let the associates stick to an organization for a longer period of time. Every
organization invests time and money to groom a new joinee, make him a corporate
ready material and bring him at par with the existing associates. The organization is
completely at loss when the associates leave their job once they are fully trained.
Associate retention takes into account the various measures taken so that an individual
stays in an organization for the maximum period of time.
Retention involves five major things:

 Compensation
 Growth
 Support
 Relationship
 Environment
MBA Page No:9

1. Compensation:
Compensation constitutes the largest part of the associate
retention process. The associates always have high expectations regarding their
compensation packages. Compensation packages vary from industry to industry. So
an attractive compensation package plays a critical role in retaining the associates.
Compensation includes salary and wages, bonuses, benefits, prerequisites,
stock options, bonuses, vacations, etc. While setting up the packages, the following
components should be kept in mind:
Salary and monthly wage:

It is the biggest component of the compensation package. It is also the
most common factor of comparison among associates. It includes,
1. Basic wage
2. House rent allowance
3. Dearness allowance
4. City compensatory allowance
Salary and wages represent the level of skill and experience an individual
has. Time to time increase in the salaries and wages of associates should be done. And
this increase should be based on the associate’s performance and his contribution to
the organization.
Bonus:
Bonuses are usually given to the associates at the end of the year or on a
festival.
Economic benefits:
It includes paid holidays, leave travel concession, etc.
Long-term incentives:
Long term incentives include stock options or stock grants. These incentives
help retain associates in the organization's startup stage.
Health insurance:
Health insurance is a great benefit to the associates. It saves associates
money as well as gives them a peace of mind that they have somebody to take care of
MBA Page No:10

them in bad times. It also shows the associate that the organization cares about the
associate and its family.
After retirement:
It includes payments that an Associate gets after he retires like EPF
(Associate Provident Fund) etc.
Miscellaneous compensation:
It may include associate assistance programs (like psychological counseling,
legal assistance etc), discounts on company products, use of a company cars, etc.
2. Growth and Career:
Growth and development are the integral part of every individual’s career. If
an associate can not foresee his path of career development in his current
organization, there are chances that he’ll leave the organization as soon as he gets an
opportunity.
The important factors in associate growth that an associate looks for himself are:
Work profile:
The work profile on which the associate is working should be in sync with
his capabilities. The profile should not be too low or too high.
Personal growth and dreams:
Associates responsibilities in the organization should help him achieve his
personal goals also. Organizations cannot keep aside the individual goals of associates
and foster organizations goals. Associates’ priority is to work for themselves and later
on comes the organization. If he’s not satisfied with his growth, he’ll not be able to
contribute in organization growth.
Training and development:
Associates should be trained and given chance to improve and enhance their
skills. Many employers fear that if the associates are well rained, they’ll leave the
organization for better jobs.
Organization should not limit the resources on which organization’s success

depends. These trainings can be given to improve many skills like:
1. Communications skills
2. Technical skills
3. In-house processes and procedures improvement related skills
4. Customer satisfaction related skills
MBA Page No:11

5. Special project related skills
Need for such trainings can be recognized from individual performance

reviews, individual meetings, associate satisfaction surveys and by being in constant
touch with the associates.
3. Support:
Lack of support from management can sometimes serve as a reason

for Associate 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 associates and
support them not only in their difficult times at work but also through the times of
personal crisis.
Management can support associates by providing them recognition and

appreciation. Employers can also provide valuable feedback to associates and make
them feel valued to the organization. The feedback from supervisor helps the
associate to feel more responsible, confident and empowered. Top management can
also support its associates in their personal crisis by providing personal loans during
emergencies, childcare services, associate assistance programs, counseling services,
etc.Employers can also support their associates by creating an environment of trust
and inculcating the organizational values into associates. Thus employers can support
their associates in a number of ways as follows:
1. By providing feedback
2. By giving recognition and rewards
3. By counseling them
4. By providing emotional support
4. Relationship
Sometimes the relationship with the management and the peers becomes the
reason for an associate to leave the organization. The management is sometimes not
able to provide an associate a supportive work culture and environment in terms of
personal or professional relationships. There are times when an associate starts feeling
bitterness towards the management or peers. This bitterness could be due to many
MBA Page No:12

reasons. This decreases associate’s interest and he becomes de-motivated. It leads to

less satisfaction and eventually attrition. A supportive work culture helps grow
associate professionally and boosts associate satisfaction. To enhance good
professional relationships at work, the management should keep the following points
in mind.
a) Respect for the individual:
Respect for the individual is the must in the organization.
b) 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 relationships among
colleagues.
c) Relationship with the immediate manager:
A manger plays the role of a mentor and a coach. He designs and plans work
for each associate. It is his duty to involve the associate in the processes of the
organization. So an organization should hire managers who can make and maintain
good relations with their subordinates.
d) Promote an associate based culture:
The associate 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 associate based culture may include decision making authority,
availability of resources, open door policy, etc .
e) Induce loyalty:
Organizations should be loyal as well as they should promote loyalty in the

associates too. Try to make the current associates stay instead of recruiting new ones
MBA Page No:13

f) Individual development:
Taking proper care of associates includes importance to the associate’s

dreams and personal goals. Create opportunities for their career growth by providing
mentorship programs, certifications, educational courses, etc.
5. Environment:
It is not about managing retention. It is about managing people. If an

organization manages people well, associate retention will take care of itself.
Organizations should focus on managing the work environment to make better use of
the available human assets.
People want to work for an organization which provides:
1. Appreciation for the work done

2. Ample opportunities to grow
3. A friendly and cooperative environment
4. A feeling that the organization is second home to the associate
a) Organization Environment includes:
1. Culture
2. Values
3. Company Reputation
4. Quality of people in the organization
5. Associate development and career growth
6. Risk taking
7. Leading technologies
MBA Page No:14

Types of environment the associate needs in an organization:
Learning environment:
It includes continuous learning and improvement of the individual, certifications and

provision for higher studies, etc.
Support environment:
Organization can provide support in the form of work-life balance. Work life balance
includes:
1. Flexible hours
2. Telecommunicating
3. Dependent care
4. Alternate work schedules
5. Vacations
6. Wellness
Work environment:
It includes efficient managers, supportive co-workers, challenging work,

involvement in decision-making, clarity of work and responsibilities, and recognition.
Lack or absence of such environment pushes associates to look for new opportunities.
The environment should be such that the associate feels connected to the organization
in every respect.
Associate Retention strategies:
The basic practices which should be kept in mind in the associate strategies

are:
1.Hire the right people in the first place.
2. Empower the associates: Give the associates the authority to get things done.
MBA Page No:15

3. Make associates realize that they are the most valuable asset of the organization.
4. Have faith in them, trust them and respect them.
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Keep their morale high.
9. Create an environment where the associates want to work and have fun.
These practices can be categorized in 3 levels:
 Low level
 Medium level
 High level
MBA Page No:16

Low level strategies
 Appreciating and recognizing a well done job
 Personalized well done and thank-you cards from supervisors
 Congratulations e-cards or cards sent to spouses/families
 Voicemails or messages from top management
 Periodic days off for good performance
 Rewards ( gift, certificates, monetary and non monetary rewards)
 Recognizing professional as well as personal significant events
 Wedding gifts
MBA Page No:17

 Anniversary gifts
 New born baby gifts
 Scholarships for associate’s children
 Get well cards/flowers
 Birthday cards, celebrations and gifts.
Providing benefits :
 Home insurance plans
 Legal insurance
 Travel insurance
 Disability programs
Providing perks:
It includes coupons, discounts, rebates, etc.
 Discounts in cinema halls, museums, restaurants, etc.
 Retail store discounts
 Computer peripherals purchase discounts
Providing workplace conveniences:
 On-site ATM
 On-site facilities for which cost is paid by associates
a. Laundry facility for bachelors
b. Shipping services
 Assistance with tax calculations and submission of forms
 Financial planning assistance
MBA Page No:18

 Casual dress policies
 Facilities for expectant mothers
a. Parking
b. Parenting guide
c. Lactation rooms
d. Flexi timings
 Fun at work :
a. Celebrate birthdays, anniversaries, retirements, promotions, etc
b. Holiday parties and holiday gift certificates
c. Occasional parties like diwali, holi, dushera, etc
d. Organize get together for watching football, hockey, cricket matches
e. Organize picnics and trips for movies etc
f. Sports outings like cricket match etc
g. Indoor games
 Occasional stress relievers:
a. “Casual dress” day
b. “Green is the color” day
c. Handwriting analysis
d. Tatoo, mehandi, hair braiding stalls on weekends
e. Mini cricket in office
f. Ice cream Fridays
g. Holi-Day breakfast
Medium level strategies:
 Appreciating and recognizing a well done job
MBA Page No:19

 Special bonus for successfully completing firm-sponsored certifications

 Benefit programs for family support
 Child adoption benefits
 Flexible benefits
 Dependents care assistance
 Medical care reimbursement

 Providing conveniences at workplace
 Gymnasiums
 Athletic membership program
 Providing training and development and personal growth opportunities
a. Sabbatical programs
b. Professional skills development
c. Individualized career guidance
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 associate needs: This can be done through proper management

style and culture
 Listen to the associate and show interest in ideas
 Appreciate new ideas and reward risk-taking
 Show support for individual initiative
 Encourage creativity
MBA Page No:20

 Encouraging professional training and development and/or personal growth

opportunities: It can be done through:
a. Mentoring programs
b. Performance feedback programs
c. Provide necessary tools to the associates to achieve their professional and

personal goals
d. Getting the most out of associate interests and talents
e. Higher study opportunities for associates
f. Vocational counseling
g. Offer personalized career guidance to associates.
 Provide an environment of trust: Communication is the most important and

effective way to develop trust:
a. Suggestion committees can be created
b. Open door communication policy can be followed
 Regular feedbacks on organization’s goals and activities should be taken from

the associates by:
a. Management communications
b. Intranet and internet can be used as they provide 24X7 access to the
information
c. Newsletters, notice boards, etc.
 Hire the right people from the beginning: associate retention is not a process
that begins at the end.
 The process of retention begins right from the start of the recruitment process.:
MBA Page No:21

a. 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.
b. Referral bonus should be given to the associates for successful hires. They are
the best source of networking.
WHAT MAKES ASSOCIATE LEAVE?
Associates do not leave an organization without any significant reason. There

are certain circumstances that lead to their leaving the organization. The most
common reasons can be:
Job is not what the associate expected to be:
Sometimes the job responsibilities don’t come out to be same as expected by

the candidates. Unexpected job responsibilities lead to job dissatisfaction.
Job and person mismatch:
A candidate may be fit to do a certain type of job which matches his

personality. If he is given a job which mismatches his personality, then he won’t be
able to perform it well and will try to find out reasons to leave the job.
No growth opportunities:
No or less learning and growth opportunities in the current job will make
candidate’s job and career stagnant.
MBA Page No:22

Lack of appreciation:
If the work is not appreciated by the supervisor, the associate feels de-
motivated and loses interest in job.
Lack of trust and support in coworkers, seniors and management:
Trust is the most important factor that is required for an individual to stay in
the job. Non-supportive coworkers, seniors and management can make office
environment unfriendly and difficult to work in.
Stress from overwork and work life imbalance:
Job stress can lead to work life imbalance which ultimately many times lead to
associate leaving the organization.
Compensation:
Better compensation packages being offered by other companies may attract

associates towards themselves.
New job offer:
An attractive job offer which an associate thinks is good for him with respect
to job responsibility, compensation, growth and learning etc. can lead an associate to
leave the organization.
MBA Page No:23

OBJECTIVES OF STUDY
 To assess the Organization culture of the Polaris.
 To study how the organization retain the associates.
 To study what strategies the company is implementing on retention.
 To avail the opportunity in observing the environment of the organization.
 To identify the key performance areas of improvement.
 To identify key factors which are effecting in retention.
 To study various Recruitment strategies by the organization.
MBA Page No:24

GPCET(2009-2011) ASSOCIATE ENGAGEMENT WHICH LEADS TO RETENTION
Significance of the study
Today talented persons are like frogs in wheelbarrow, which can jump at
any point of time when they sense opportunities. Associate retention have become a
major concern for corporate in the current scenario. Individuals once being trained
have a tendency to move to other organizations for better prospects. Lucrative salary,
flexi timings, better opportunities, career growth prospects are some of the factors
which prompt an associate to look for a change. Whenever a talented associate
expresses his willingness to move on, it is the responsibility of the management and
the human resource team to intervene immediately by conducting exit interview and
find out the exact reasons leading to the decision. Associate retention strategies go a
long way in motivating the associates so that they stick on to the organization for the
maximum time and contribute effectively.
Employers have a need to keep associates from leaving and going to work
for other companies. This is true because of the great costs associated with hiring and
retraining new associates. The best way to retain associates is by providing them with
job satisfaction and opportunities for advancement in their careers. They said, good
help is hard to find, is even truer these days than ever before because the job market is
becoming increasingly tight. It’s not only the cost incurred by a company that
emphasizes the need of retaining associates but also the need to retain talented
associates from getting poached.
Now that so much is being done by organizations to retain its associates,

why is retention so important? Is it just to reduce the turnover costs? Well, the answer
is a definite no. It’s not only the cost incurred by a company that emphasizes the need
of retaining associates but also the need to retain talented associates from getting
poached. The process of associate retention will benefit an organization in the
following ways:
The Cost of Turnover:

MBA Page No:25
The cost of associate turnover adds hundreds of thousands of money to a

company's expenses. While it is difficult to fully calculate the cost of turnover
(including hiring costs, training costs and productivity loss), industry experts often
quote 25% of the average associate salary as a conservative estimate.
Loss of Company Knowledge:
When an associate leaves, he takes with him valuable knowledge about the
company, customers, current projects and past history (sometimes to competitors).
Often much time and money has been spent on the associate in expectation of a future
return. When the associate leaves, the investment is not realized.
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 associate leaves, the relationships that associate built for the
company are severed, which could lead to potential customer loss.
Turnover leads to more turnovers:
When an associate terminates, the effect is felt throughout the organization.

Co-workers are often required to pick up the slack. The unspoken negativity often
intensifies for the remaining staff.
Goodwill of the company:
The goodwill of a company is maintained when the attrition rates are low.
Higher retention rates motivate potential associates to join the organization.
Regaining efficiency:
If an associate resigns, then good amount of time is lost in hiring a new

associate 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 associate.
ROLE OF HR IN RETENTION
MBA Page No:26

As every person differs from the other, there is no standard recipe to handle
an associate and his requirements. However, the reporting HR manager of every
associate is his connection to the organization. Researches conducted across several
organizations have consistently validated the reality that the HR manager plays a
significant role in influencing the associate's commitment level and retention. There
are a number of retention practices HR managers can use to increase the probability
that an associate will remain committed to the organization over time. These retention
practices reflect the manager's attitude and actual relationship with associates
reporting to him.
Most organizations ask their managers to place highest priority for client
delight, productivity and timely delivery undermining delight of their associates who
actually run the show. Good retention practices work on a two way give and take-
based on not only what the associate contributes to the organization, but what the
organization gives back to the associate. One such tool would be for managers to be
accessed on the success rate of retaining associates of their unit as one of the
competencies of their Key Performance Indicator (KPI) over a period of time. Finally
such performances could be linked with their incentives. When managers are held
accountable in this fashion, it ensures that the motivation to examine and enhance
retention practices is ever present.
While some enlightened leaders balance the needs of the organization with
the needs of the associate, the truth is that these leaders are rare. Though managers
play a very crucial role in retention, they do not control all of the factors that can
affect attrition. Therefore, the second component represents the organization’s
responsibility in the retention equation. An ideal combination of the Organizational
Retention Systems and managers’ positive attitude towards associate retention, when
working in a complimentary manner rather than contradictory manner is the best
recipe for achieving organizational objectives.
MBA Page No:27

SCOPE OF THE STUDY

The scope of the study includes the findings of the report on Retention in
Polaris software labs. The key findings from the focus relates about the retention of
the organization. The scope also includes the views of the associates about the
retention process and about the policies and practices in the organization
The data required for the present study was collected using questionnaires. The
data was collected from the associates of Polaris software labs, Hyderabad across the
age group of 21 to 40 years. Polaris software labs have 1488 associates. The scope
also includes the retention strategies that are followed by the top management in the
organization and about the policies and practices in the organization.
REVIEW OF LITERATURE
Eisenberger (2002) suggests that employers are fighting to get talented associates in
order to maintain a prosperous business. Ray Hammer (2000) as well as many other
researchers/authors agree.
Sommers (1995) suggested that incentive pay can be used for associates, setting
targets and when they are met rewarding with cash bonuses. Share ownership by the
associate is another type of pay incentive. It in essence makes the associate a
shareholder of the organization aligning the interests of the associate with the owners.
Associate share ownership can come through restricted share plans where ownership
of the share is not transferred to the associate until after a specific period of time has
passed or a specific goal has been achieved. This not only provides the associate with
the incentive to drive the share. price higher through their work effort, but also
remain with the organization until maturity of the plan.
Pfeffer and Viega (1999) explained that management can ensure talented associates
are given autonomy in their job functions and are given meaningful assignments,
allowing them to be involved in the decision making for their area of expertise.
Pleasant working conditions can entice productive workers to stay in their
organization and not look elsewhere. In addition, offering these associates training to
keep them current on their job functions and allowing them to learn new skills can
MBA Page No:28

also be utilized to improve associate satisfaction with the organization.

Ulrich (1995) stated that organizations no longer offer a job for life there is no longer
guaranteed employment, with a pension as a reward for loyalty and compliance.
Associates are increasingly mobile, changing employment for promotion, reward and
job satisfaction; top associates have more choice as to where to work. To retain these
key associates the organizations culture needs to allow an environment of personal
growth. With less job security, the best reward an organization can give an associate is
transferable skills.
Williams and Anderson (1991) observed that workers have been forced to take more
responsibility for their own careers, going where the work is rewarding and where
they can develop skills that will guarantee their employability in whatever
organization. This mobility and “free agency” has created greater competition for
skilled workers between organizations. Good workers have more choices than before,
and are more likely to use them.
Browning and Edgar (2004) suggested that when Maslow’s hierarchy theory is
applied to organizations, the implications for managerial actions become obvious.
“Managers have the responsibility to create a proper climate in which associates can
develop to their fullest potential. Failure to provide such a climate, would increase
associate frustration and result in poorer performance, lower job satisfaction, and
increased withdrawal from the organization”.
Huselid (1995) differentiated overload in terms of quantitative and qualitative.
Quantitative refers to having “too much to do”, whilst Qualitative means work that is
“too difficult”. Associates at all levels occasionally find themselves faced with
excessive work demands, and will leave it if is the only course of action.
Patterson, West et al. (2005) explained that recent research validates factors such as
stimulating and challenging work, career growth, learning, and development are keys
to retention. This research challenges conventional HR perception in several aspects.
The most notable disparity of views emerges when comparing the importance of “boss
reputation,” the perceived quality of the immediate manager. The CLC research
concluded that high-value associates rate this as the single most important
consideration in staying with an organization, that 80 percent of turnover is related to
unsatisfactory relationships with their boss.
Edgar and Geare (2005) argued that associates are more likely to remain with an
MBA Page No:29

organization if they believe that their managers show interest and concern for them.
Buckingham added that they are know what is expected of them, if they are given a
role that fits their capabilities and they receive regular positive feedback and
recognition.
Berry (1997) discussed that key to retaining the right associates is recruiting them in
the first place. This process must given consideration to their long term value to the
organization. The attraction and retention of key talent, is increasingly pivotal to
organizational success. The ability to achieve competitive advantage through people
depends in large part on the composition of the work force. This, is the function of
who is hired, and how they are developed, these factors will lead to who is retained.
Breadwell and Holden (1994) explained that reviewing and monitoring recruitment
practices can lead to a reduction in key associates leaving. If the first stage of
retention is recruitment, then best practice will lead to the correct candidate being
selected. In the long term this will increase the retention levels of key associates
within the organization.
Rigby (2003) feels that when there is high retention this introduces new problems for
the organization. High retention levels, rather than being a company-wide problem,
will often occur in pockets within businesses. For instance, an associate or a team may
have become so good at their job(s), that their boss cannot bear too lose them or even
promote them, which results in stagnation and de-motivation.
Brown and Leigh (1996) opine that associates that are satisfied and happy in with
their jobs are more dedicated to doing a good job and taking care of customers that
sustain the operation. Job satisfaction is something that working people seek and a key
element of associate retention.
Gelade and Ivery (2003) states that every person will have his or her own definition
of what it means to be satisfied with a job.
MBA Page No:30

RESEARCH METHODOLOGY
Research methodology can be defined as methodical, unbiased and complete

investigation of subject matter to establish principles. Investigation of problem to
discuss pertinent information to help solve it. The term methodical refers to carefully
planned procedures.
It is a systemized effort to gain new knowledge. it can also be defined as the

manipulation of things, concepts or symbols for the purpose of generalizing to extend,
correct or verify knowledge, whether that knowledge aids in construction of theory or
in the practice of an art.
Research design is the specification of method and procedure for acquiring

the information needed to structure to solve the problems. Research design is
systematic gathering, recording and analyzing the data, which is use to solve the
problems. The research Design is of Descriptive nature.
Descriptive research studies are those studies which are concerned with
describing the characteristics of a particular individual or a group. These are the
studies concerned with Specific predictions, with narration of facts and characteristics
concerning individual, group or situation.
The purpose of research is to discover answers to questions through the

application of scientific procedure. The main aim of research is to find out the truth
which is hidden and which has not been discovered as yet. Though each research
study has its own specific purpose, we may think of research objectives as falling into
a number of following broad groupings.
The study has been covered based on the following steps:
A) DATA COLLECTION:
The data has been collected from the two main sources namely:
 Primary Source of data
 Secondary Source of data
PRIMARY SOURCE:
MBA Page No:31
Primary source includes the data that is collected from POLARIS SOFTWARE
LABS associates. The required information is collected in the following ways.
 Administered a structured questionnaire.

 On the basis of observation.
 Through training classes
 Through socialization
SECONDARY SOURCE:
Secondary source is that information that is obtained from those sources

other than direct sources and the information is collected through the mentioned
ways.
 Text books.
 Company’s website.
 Company’s prospectus
SAMPLE SELECTION:
A sample is known as the subunit of population which shares the similar

features. The number of units in the sample is known as the sample size. In this study
a sample size of 57 was taken and chosen simple random sampling method.
B) ANALYSIS :
 The collected data has been coded and represented diagrammatically in the
form of bar charts by calculating the Respondents and Percentage. Based on
this, suitable interpretations were drawn.
 Based on the responses obtained and gathered data suitable recommendations
were given which can help the organization to improve their retention steps.
QUESTIONNAIRE DESIGN
MBA Page No:32

The questionnaire is designed based on the following type of questions. They

are as follows.
a) Open ended questions
b) Closed ended questions
c) Dichotomous questions
a) Open ended question:
These are unstructured ones, providing free scope to the respondents to reply
with their own choice of words and ideas. Open responses are useful in studies where
discovery is the objective. Response feedback encourages a variety of frames of
references which may provide unanticipated insights.
b) Closed ended questions:
These are structured ones with two or more alternative responses from which
respondent can choose. They contain standard answers and they are simple to
administer and easy to compile and analyze. As the alternative responses are designed
with reference to the requirements of the study, the chances of securing relevant
answers are better.
c) Dichotomous questions:
A dichotomous question can be answered in one of the two responses such as

‘Yes’ or ‘No’.
The questionnaire designed by me contains nine dichotomous questions and

remaining eight are closed ended questions, two are open ended questions.
MBA Page No:33

LIMITATION OF STUDY
 The study is only limited to Polaris Hyderabad branch office .

 As it’s a peak time in the Polaris software labs, I have collected only 57
samples out of 1488 associates
 The study will be carried out by distributing questionnaires during tea time
only during working days.
 Time period is only 30 days.
 The associates have perceived the questionnaires according to their context.
Moreover, we couldn’t get the exact output of the associates.
MBA Page | 34
INDUSRTY PROFILE
IT INDUSTRY
The IT Industry has emerged as one of the most important industries in the
Indian economy contributing significantly to the growth of the economy. The IT
industry of India got a major boost from the liberalization of the Indian economy.
India’s software exports have grown at an annual average rate of more than 20% since
1991. The Structure of the IT industry is quite different from other industries in the
Indian economy. The IT industry of India is hugely dependant on skilled manpower.
Primarily a knowledge based industry, the IT industry of India has recorded
significant success due to huge availability of skilled personnel in India.
The industry structure in the IT sector has four major categories –
 IT Services
 IT enabled services
 Software products
 Hardware
IT Services
IT Services constitute a major part of the IT Industry of India. IT services

include client, server and web based services, Opportunities in the IT services exist in
the areas of consulting services, management services, internet services and
application maintenance. The major users of IT services are:
 Government
 Banking
 Financial Services
 Retails and Distribution
 Manufacturing
IT Enabled Services
MBA Page | 35
The services which make extensive use of information and

telecommunication technologies are categorized as IT enabled services. The IT
enabled services is the most important contributor to the growth of the IT industry of
India. Some of the important services covered by the ITES sector in India are –
 Customer-interaction services including call-centers

 Back-office services
 Revenue accounting
 Data entry and data conversion
 Transcription and translation services
 Content development and animation
 Remote education
 Data search
 GIS
Software products
Software products are among the most highly exported products from India.
The software industry in India originated in the 1970s and grew at a significant pace
in the last ten years. Between 1996-1997 and 2006-2007, the Indian software industry
grew more than give times from 2630 crores to 93200 crores. During the same period
software and service exports from India grew by almost twelve times. Most of the big
software companies, including Microsoft, Adobe and Sun etc, have opened up
development centre at various locations in India.
Hardware
The hardware sector of the IT industry focuses on the manufacturing and

assembling of the computer hardware. The consumption of computer hardware is high
in the domestic market. Due to the rise in the number of IT companies, sales of
desktops, laptops, serves, routers, etc have been on the rise in recent years. Many
domestic and multi-national companies have invested in the computer hardware
market in India. Some of the major players in the hardware sectors are Dell, HP and
Acer among the multinational brand and Zenith, Wipro, HCL among the local brands.
COMPANY PROFILE
MBA Page | 36
About Polaris software labs:
Founded in 1993 and publicly-listed, Polaris Software is the world's most

sophisticated banking and insurance software company. Arun Jain is the Founder;
Chairman & CEO of Polaris Software Lab Ltd. Arun started the company with just
$250 and a dream. Today, Polaris has annual revenue of over USD 300 million,
having 30 Relationship Offices in 16 Countries and 7 Business Solution Centers in
India. Polaris has talent strength of over 9,000 solutions architects, technology and
domain experts, and providing solutions to the banking, financial services and
insurance industries. Polaris is the chosen outsourcing partner for 10 of the top 15
global banks and 6 of the 10 top global insurance companies. Polaris offers state-of-
the-art, comprehensive solutions for core banking, corporate banking, wealth &
asset management and insurance. Over the last two decades, Polaris has
implemented its solutions and services among 200 of the world's largest financial
institutions. Polaris Software is also recognized by the world's top analysts
(Forrester and Gartner) as global leaders in banking and insurance software.
Polaris Software Lab Limited is one of India’s leading institutions

contributing to the knowledge economy of the global financial services market place.
In a quest for knowledge, spanning over the last 2 decade (11 years as Polaris),
Polaris has established its solutions and services footprint globally contributing to the
realization of business vision of some of the world’s leading giants in the money
vertical.
Strong Roots
Polaris began its journey over 25 years ago when it partnered with Citibank to create
India's first ATM system. In 1993, Polaris was recognized by the Smithsonian
Institute for creating the FIRST Banking solution on distributed architecture.
As a result of this partnership experience with Citibank, Polaris gained two very
critical experiences:
 Creating mission-critical solutions with leading-edge functionality, built on

reliable and robust technical architecture which could be successfully
implemented and replicated across the globe. Today, this experience and
MBA Page | 37
learning has culminated in a suite of modular solution components: Intellect

Global Universal Banking.
 Creating successful outsourcing models which enables Polaris to meet and

exceed global standards. This experience has been converted into a
predictable and repeatable model of success and is known as the OPERA.
In 2003, Polaris acquired Citibank's banking IT arm and transformed it into the
world's leading Financial Technology Corporation. Today, Polaris has been rated
among the top 8 in IT services in banking globally.
From Experience to Expertise
Polaris' intimated understanding of the Money business distinguishes it from all

others.
While the rest of the Indian IT industry was busy building expertise on COBOL,
Java and Lotus, Polaris built expertise around Banking, Financial Services and
Insurance (BFSI) specializing on industry segments such as Investment Banking,
Retail Banking, Credit Cards, Corporate Banking, and Insurance.
Polaris organized itself into 7 Business Solution Centers (BSC's). Each BSC houses
expertise in one domain area. For example, the Hyderabad BSC houses investment
banking & wealth management expertise and is the world's first specialty center for
Investment Banking.
Over $300,000,000 and 10,500 experts, 20 years later
Polaris is proud to serve the world's most prestigious banks, including Citigroup,
SEB, Shinsei Bank, Mekong Housing Bank, Saigon Hanoi Bank, Al Hilal Bank, and
Deutsche Leasing, to name a few. Polaris' strength lies in its people: World-class
bankers, peerless information technology experts, and quality assurance gurus all
work together to ensure the best possible outcomes for clients.
MBA Page | 38
Nalanda University
Nalanda University is Polaris' corporate learning center and has a mandate to create
and cultivate the specialized expertise of 21st century banking.
At Polaris, we call this philosophy 'The Economics of Expertise.'
 Expertise that helps our customers serve their customers.
 Expertise that helps our customers reach their goals better and faster.
 Expertise that helps our associates live their dreams.
 Expertise that helps our shareholders derive more returns.
 Expertise that helps build more experts in society.
The experience of creating mission critical; solutions with leading edge

functionality, built on reliable and robust technical architecture which could be
successfully implemented and replicated across the globe .This capability is today
brought to its customer in the form of a suite of modular solution components under
the brand name of intellect suite.
The experience of creating successful outsourcing models which enable

global organizations to sustain their competitiveness. This experience has been
converted into a predictable model of success and is known as Entity model.
The journey gave Polaris one of its biggest differentiators-The intimate

understanding of money business.
Polaris is organized into 7 Business solution centers (BSCs). Each BSC

houses expertise in one of the domain areas. These are:
 Retail Banking - Chennai

 Retail Banking Products - Chennai
 Enterprise innovation Center - Chennai
 Investment Banking - Hyderabad
 Corporate Banking - Mumbai
 Enterprise Solution Center - Gurgaon
MBA Page | 39
While the rest of the Indian market was busy building expertise on COBOL,
Java and Lotus, Polaris built expertise on investment banking, Retail banking, credit
cards, corporate banking, insurance etc. Polaris made its strategic choices to-
 Stay focused on the money vertical - BFSI segment

 Create lasting value in only a few relationships
 Partner with the pioneers
 Dominate the domain
 Build turnkey capabilities
Vision:
 Create the environment to attain personal mastery to push new frontiers

 Unleash the collective knowledge potential
 Achieve global stature by helping customers win in their market place
 Grow the value of Polaris every year
 Anchor the family and its aspirations
 Impact the society at large
 Rooted in Polaris Values- Passion, Humility, Integrity, Respect, FUN-‘PHIR
FUN’
Mission:
 “To be a reliable and responsive Techno-Business Solution partner and

provide cost effective, timely solution, meeting customer expectation through
continuous process improvement and Win-Win relationships in the Banking,
Financial Services and Insurance “space”
People of Polaris:
The strength of Polaris lies in its people. A unique blend of techno-bankers,

banking & insurance practitioners, technology experts & quality process gurus helps
Polaris create enduring value in any relationship. At Polaris we call this philosophy
‘The Economics of Expertise’.
 Expertise that benefits the consumers of our customers

 Expertise that helps our customers reach their goals better and faster
MBA Page | 40
 Expertise that helps our associates satisfy their desire to add value and make a
difference
 Expertise that helps our shareholders derive more returns from their investments
 Expertise that helps build more experts in society
Location:
 Corporate Headquarters: Chennai, India

 US Headquarters: New Jersey/ Fremont, CA
 Worldwide offices: Australia, Bahrain, France, Germany, Hongkong, Ireland,
Japan, Korea, Saudi Arabia,UAE,Arabia,Singapore,Switzerland,United Kingdom,
United States and Canada.
CSR OF POLARIS
 Polaris has always strived to make life happier, be it within the organization, be it
the corporate world or be it the society. The company’s social responsibilities
transgresses boundaries and geographies and has put in its bit to help the less
advantaged with the Ullas Trust.
 This is a trust floated and fully managed by the associates of Polaris for
mentoring economically underprivileged school children. Each Polarities
mentors a deserving school student them from economically weaker sections, by
acting as a role model and also by providing 40% of the scholarship amount.
Rest is contributed by the Organization.
The Ullas Trust Organizes educative and informative sessions 'You can do it' for
the school students wherein volunteers from the organization teach the children
the basics of computers and the Internet and also counsel the students on career
prospects.
Leadership in Financial Technology:
 A leader in Financial Technology, Polaris is proud to be associated with the best

names in the Financial Technology world across Geographies. We enable our
customers achieve business technology alignment, catering to solutions ranging
from product based to service based needs. Polaris believes that value creation in
an outsourcing relationship grows as customer relationships mature with time.
Relationship, expertise, technology, Intellectual Property and Global Reach are
the props that enable us to come closer to our customers worldwide.
 New solutions, new methods, new business possibilities emerge in a journey

together. Polaris is focused on understanding the need of the hour and the
MBA Page | 41
company’s strategic intent is directed towards delivering future-proof

technology that in turn enables banks and financial institutions respond to their
dynamic ecosystem
Polaris Business Strategy:
7 Strategic Levers 5ValueCreationAreas Benefits to the Customer
 Domain Knowledge  Cost  Speed to market
 Technology Platform  Quality  Lower cost of ownership
 Methodology & Tools  Reliability  Flexibility
 Processes  Speed  Reliable Solutions
 Reusability  Flexibility  Competitive Advantage

 Improved Efficiency

Some quick facts about Polaris:
 World’s first CMMI (Capability Maturity Model Integrated) Level 5 Certified

Company.
 BS7799 certified
 Polaris ranks 9th in NASCOMM’s top 20 exporters list for 2004-2005
 20 years of experience in Banking, Financial Services & Insurance (BFSI)
 Over 10,500 Associates
 23 international offices and 4 global near shore development centers
 7 Business Solution Centers focusing in micro verticals in BFSI
 CAGR of over 70%, the highest among all the IT organizations in India
 More than 750 Domain Experts
Milestones:
199 Polaris Software Lab Ltd Incorporated

3
199 End to End Retail banking solution for Citibank India

4
MBA Page | 42
199 Quality Processes aligned to SEI-CMM Level 3

5
199 Operations set up in USA

6
First Overseas development Centre commissioned for

Citibank
199 Wholly owned subsidiary found in Singapore and USA

7
Polestar Trust started
Polaris awarded “Most Innovative Company”
First large Offshore Contract CDC started
199 Quality Processes Aligned to SEI-CMM Level 4
8 Quality Processes ISO-9001 certified
Birth of Polaris Retail InfoTech Limited
Crossed 1000 Associate milestone
199 Initial Public Offering, over-subscribed by 21 times
9 First ATM Development Lab, First Secure Lab
Awarded “Best International Business Excellence” Award
“Foundation”- a State -of-the-Art Development centre

inaugurated
Wholly owned subsidiaries in Germany, Switzerland and

200 Australia
0
Ranked among “Fab Five” companies in India by intelligent
Investor
Rated amongst Forbes World’s Best Small Companies
200 Commenced operations in Japan

1
MBA Page | 43
World’s First CMMi Level 5 company
NASSCOM Felicitates Polaris Software
Rated as ‘Fastest growing company in India’ by Computers

Today and Business World
Opened Business Continuity Centre in Singapore
2nd Time Ranked amongst Top 200 Best Small Companies in

the World
200
2 Ranked among Top 25 Best Employers in the country
Launch of Adrenalin
Ranked among Top 10 IT Wealth Creators- Business Today
Historic merger with OrbiTech (Citigroup Subsidiary)
200 Birth of Intellect
3 Birth of Optimus
“The Banker Technology” Award
Crossed 5000 associates mark
BS 7799 Certified
Super-Specialty center for Financial Risk Management at

Mumbai
200
4 Launch of Intellect Suite of Products for Banking Solutions
Inaugurated ”Intellect Court” at Navalur
Ranked 9th by NASSCOM Top 20 Exporters
Mother Teresa Corporate Citizen Award
200 Launch of next generation Intellect Banking Platforms

5
200 World’s First Super Specialty Center for Investment Banking
MBA Page | 44
at Hyderabad
Near Shore Centre in Belfast
6 Entry into Latin America
Recognized as Global Leader in the Specialty Application

Development by Cyber Media
“Corporate Banking” New Centre in Mumbai
Launch of PACE Lab in Sydney
The Banker’s Award Intellect Treasury

200
7 Entering New Markets like Southern Europe & Nordic
2nd Year in a row - Global Leader in the Specialty

Application Development
Near-shore Testing Center at Canada
200 Opened new Branch office in Seoul, Korea

8
 Products and Services

 Polaris mainly caters to the BFSI sector the major solutions are targeted at
four keys verticals. These are —
 Retail Banking
 The Retail Banking environment today is changing fast. The changing
customer demographics demands creating a differentiated application based on
scalable technology, improved service and banking convenience. Higher
penetration of technology and increase in global literacy levels has set up the
expectations of the customer higher than never before. Increasing use of
modern technology has further enhanced reach and accessibility.
 The market today challenges banks to provide multiple and innovative
contemporary services to the customer through a consolidated window as so to
ensure that the bank’s customer gets “Uniformity and Consistency” of service
MBA Page | 45
delivery across time and at every touch point across all channels. The pace of
innovation is accelerating and security threat has become prime of all
electronic transactions. High cost structure rendering mass-market servicing is
prohibitively expensive.
 Retail Banking solution centre in Polaris has established itself as a “One-stop
solution for Retail Banking” to cater to the customers with an aim to create a
sustainable profitable core proposition.
 Their Major Offerings are:
 Retail Banking solutions and services.
 Credit Cards.
 Internet Banking.
 Mortgages practice.
 Multi-Channel Integration.
 Business Rule Engine.
 Customer Relationship Management.
 ATM Solutions and services.
 Corporate Banking
 Polaris’ Corporate Banking business model is powered by our Intellect Suite
of Products. Our custom solutions include:
MBA Page | 46
POLARIS OUT SOURCING
Retail Banking:
The Retail Banking environment today is changing fast. The changing

customer demographics demands to create a differentiated application based on
scalable technology, improved service and banking convenience. Higher penetration
of technology and increase in global literacy levels has set up the expectations of the
customer higher than never before. Increasing use of modern technology has further
enhanced reach and accessibility.
Capital Markets and Asset Management:
Technology is one of the key Differentiators for any leading Investment

Banker. Every year, Investment firms make huge investments in technology, but the
winners make smart investments. Polaris works with its clients to make the right
technology investments by bringing leading edge insight, experienced professionals,
and a rigorous process to every project. In an information-intensive industry where
time is of the essence, our rapid and robust software development and deployment
methodologies helps clients reduce risk in their projects and implement them
successfully on a crashed time frame.
Corporate Banking:
Polaris Corporate Banking business model is powered by our Intellect Suite

of Products. Our custom solutions include:
Insurance:
MBA Page | 47
Insurance companies today face multiple business and technology challenges

brought in by the ever-changing face of the globalization. On top of this, the advent of
financial crunch has put a lot of pressure on Insurance companies to change their
business operations models and reorganizing their current IT systems. There is a
definite need for insurers to look beyond the obvious and explore better and efficient
ways of doing business.
PRODUCTS
 Intellect Suite of Products
 Intellect Universal Banking
 Intellect Consumer Finance
 Intellect Wealth
 Intellect Cards
 Intellect Portals
 Intellect Cash & Liquidity

 Intellect Risk & Treasury
 Intellect Business Process Studio
 Intellect Securities Services
SERVICES
Enterprise Solutions

 Oracle

 SAP

 Infor BaaN

 Siebel

 DWH / BI

 Enterprise Content Management
Technology CoE
MBA Page | 48

 Microsoft .NET

 IBM Mainframe
 Performance Engineering
Domain Led

 Risk and Treasury
Infrastructure Led
 IT Enterprise Managed Services


GROUP COMPANIES
 LaserSoft
 Intellect SEEC
 Polaris Retail Infotech Ltd.
 Indigo TX
 Adrenalin
Investment Banking
Technology is one of the key Differentiators for any leading Investment

Banker. Every year, Investment firms make huge investments in technology, but the
winners make smart investments. Polaris works with its clients to make the right
technology investments by bringing leading edge insight, experienced professionals,
and a rigorous process to every project. In an information intensive industry where
time is of the essence, Polaris helps its clients reduce risk in their projects and
implement them successfully on a crashed time frame.
With the right combination of business analysts, project managers and

developers, experienced in the Investment Banking domain, Polaris has delivered
several projects in complex areas like Custody Solutions, Mutual Funds, Portfolio
Management and Securities Administration across geographies.
MBA Page | 49
Some of the services provided under investment banking by Polaris are –
 Wealth Management
 Derivatives
 Fixed Income
 Money Market
 Forex
 Custody (Securities Services)
Investment Banking – Wealth Management
Polaris has established ‘Wealth Management Center of Excellence (CoE)’ to

focus on providing global, 24x7 solutions to Private Bankers, Wealth and Asset
Managers and Investment Management firms. The Wealth Management suite of
Products has become the preferred choice of many large banks in Asia Pacific, Middle
East and Europe.
Some of the solutions highlights are:
 Provides a solution for the operational, credit and compliance requirements

of private banks and wealth managers.
 It is a thin client web based solution offering 24x7 support.
 Has multi-country, multi-entity, multi-branch and multi currency capability
Investment Banking – Derivatives and fixed income
Polaris capabilities in Derivatives and FI space encompass multiple instruments

including treasury and corporate bonds, fixed and floating rate bonds, zero coupon
bonds, securitized debt etc. In the derivatives space, our experience spans forwards /
futures and multiple flavors of options across various underlying including Equities,
FI, FX; IR derivatives including FRA, Swaps, Swaptions, Caps and Floors; Structured
products and Credit derivatives across Front office, Middle office and Back office
operations.
MBA Page | 50
MBA Page | 51
Investment Baking – Money Market
Polaris’s Money Market Platform is an easy to use web-based interface that

enables dealers to effectively capture deal details pertaining to risk, confirmation,
settlement, and accounting information. Quick shortcuts facilitate entry of various
dates, and amounts with minimal keystrokes.
Its real time, fully configurable, sophisticated Risk Sheet helps dealers
manage their portfolio, exposure, MTM and P/L by tracking information based on
branch, currency and warehouse.
System in multi-entity and is highly customizable as per bank’s business

requirements. Currency, Counterparty, and Product static data information drive the
transaction processing in the system.
Investment Banking -- Forex
Polaris’ capabilities encompass both manual & automated trading solutions

across equities and FX products. Their experience covers the entire gamut of trading
cycle from deal booking, order management, trade execution, pricing, clearing &
settlement and providing interfaces to external parties such as exchanges, clearing
houses & depositories.
Investment Banking – Custody
The Custody Platform from Polaris is a robust domestic custody processing

system proven to handle large volumes of transactions. Their Custody Platform
handles individual and corporate customer accounts seamlessly servicing both local
and foreign clients. The system provides the ability to define Master Account, Sub
Account relationships and attach service types, billing charges, reporting schedules
and SWIFT message addresses at the individual account level.
Insurance
Some of the services that Polaris provides under the Insurance vertical are:
MBA Page | 52
 Insurance Lead Management System(ILMS)
ILMS enables the sales force to prevent loss of leads by tracking them from
lead creating to sales closure. It helps sales force to increase the conversion ration and
thus increase new business. ILMS has a set of predefined reports that provide
comprehensive campaign, productivity and competitive analysis.
 Benefit Illustration System
Insurance Companies are finding it difficult and taking lot of time to develop
new product or make changes to the existing products. They also lack an illustration
framework that is easy to configure products, charges and generate illustration and get
quotes as per customer needs. This solution helps insurance companies to reduce time
taken to deploy new products across all their channels. It also helps in creating and
retrieving quote and provides illustration.
 Claims Monitoring System(CMS)
Claims Management is one of the most challenging business processes in the

insurance industry. Polaris CMS system helps insurance companies with end-end
cycle management, business process management through workflow, document
management and generating operational reports and dashboards. This solution enables
to bring in business process efficiency and complete monitoring of claims processes.
 Claims Automation System
The claims Turn around Time (TAT) is found very high in the Manuel claims
handling process. This causes inefficient workload distribution, inconsistencies in
claims handling and High Risk of Errors & Exceptions. Polaris has developed on the
objective SOA based framework as base for electronic document management, record
management and business process workflow. Solution provides end-to-end
claim handling, document management, role based access and dashboard.
 SOA and BPM Solutions
Polaris uses the innovative method of involving the customer for Joint creation
of SOA Blueprint. In addition to this, Polaris also utilizes ready to use Business
MBA Page | 53
Components SOA ready and can provide agility and speed to market. There are over
250 components from the exiting Intellect SEEC BCS catalog pertaining to
Insurance – Life, Non Life and Health domain. Polaris has experience in creation of
Business Services catalogue and weaving the services using an industry BPM tools.
Providing the business agility by leveraging the existing investments made. Polaris
also has experience in using look like PEGA, Logic and open source tools for
developing SOA frameworks.
Business Intelligence Solutions
The Business Intelligence solutions provided by us include BI consulting and

development of an Insurance industry specific data-warehousing framework. Our
Business Analytics solutions help business users and executives in monitoring
performance through dashboard for key performance indicators and goal.
BSC4: The Capital

Overview:
BSC 4 specializes in providing solutions that encompass services and products

for global banks in the areas of Securities, Brokerage, Wealth Management and
Treasury businesses. Operational from 15th April 1997, the BSC also offers services
that are centered around leading third party products like Calypso and Scrittura. With
successful implementations already live at leading Indian banks, BSC 4 is slated to
work with leading global banks. Solutions are delivered on multiple technology
platforms like Java/J2EE, C++/Perl family of technologies, .NET platform, multiple
databases and middle-tier technologies. With over 1000 professionals, BSC 4 has
delivery centers in Hyderabad, Chennai and Mumbai with the key delivery unit
located at Hyderabad. It is SEI CMM Level 5 and ISO 9001-2000 Compliant and
BS7799 Certified.
HEAD OF BSC4
PankajModi heads Polaris’ Hyderabad Centre, BSC 4, which specializes in

technologies for Capital Markets, Treasury and Wealth Management. Of his 22 years’
experience in the IT industry, PankajModi has spent over 20 years on financial
technologies, spanning Citigroup and Polaris. He has rich experience in the
MBA Page | 54
management of financial applications, having managed positions of increasing

responsibility in private banking, credit cards, corporate banking, cash management
and capital markets, in various parts of the world. Pankaj Modi’s areas of
specialization include capital markets, cash management, software process
management and human resource development. Pankaj Modi also served as the
President of HYSEA – an industry association representing IT and ITES exporters in
the state of Andhra Pradesh, India. Pankaj Modi has an engineering degree and an
MBA from the University of Bombay.
Offerings:
Services
Services span across the length and breadth of global markets namely multiple
asset classes in Cash and Derivatives products i.e. Fx, equity, Fixed Income,
Securities, Interest rate Derivatives, Fx options, Credit Derivatives and Equity
Derivatives. Across all these asset classes the services span the complex front office
trade capture applications to middle office risk reporting and the high transaction
volume back office applications. Technology is not a constraint and solutions are
delivered on multiple technology platforms like Java/J2EE, C++/Perl family of
technologies, .NET platform, multiple databases, and middle tier technologies.
Service offerings
 Architecture
 Design
 Application Management Services
 Development
 Re- Engineering
 Production Support
 Implementation/Global Rollouts
MBA Page | 55
Partnerships
Services that are centered around leading third party products like Calypso and
Scrittura. A major initiative has been in the area of providing Testing Services on
Calypso both Manual and Automation Testing using QTP.
Product Solutions:
1. Wealth Management
2. Registrar & Transfer Agency
3. Custody
KEY HIGHLIGHTS
 Roll Outs
 Milestones
 Initiatives
 Deals Won
Clientele
 Bear Stearns
 Calypso Technology
 CFC India Services Private Limited
 Charles Schwab & Co., Inc
 CIB Tech EMEA GCOT
 Citi Financial Japan KK
 Citi Prime Brokerage
 Citibank
 Citibank - Canada
 Citibank - Global Consumer Group
 Citibank Australia
 Citibank Espana, S.A.
 Citibank N.A. Japan
MBA Page | 56
 Citibank N.A.in New York

 Citibank NA
 Citibank NA (London Branch)
 Citibank, Singapore
 Citicorp Development Center, Inc.
 Citicorp North America
 Citigroup
 Citigroup Alternative Investments, LLC
 Citigroup Canada
 Citigroup Center
 Citigroup Centre
 Citigroup Global Markets Deutschland AG
 Citigroup Private Bank
 Citigroup Private Bank
 Citigroup Private Bank - Singapore
 Deutsche Bank India
 DSP Merrill Lynch Limited
 EMEA Consumer Technology
 Emerging Markets Special Opportunities L
 GCB O & T Information Technology
 Global Technology Services LLC
 HDFC Bank Ltd
 IBM Global Business Services
 IBM SINGAPORE PTE LTD
 IBM UK Limited
 ICICI Bank
 Interwoven
 Interwoven - RBS
 Investcorp Bank BSC
 J P Morgan Services India Pvt. Ltd
 JPMorgan Chase Bank
MBA Page | 57
 Kotak Mahindra Bank

 Legg Mason
 Lehman Brothers
 Lloyds TSB Bank plc
 Lloyds TSB Group Plc
 Man Investments Ltd
 Modular Space Corporation
 NBC Universal
 Nikko Citigroup Limited
 Nikko Salomon Smith Barney Services Ltd
 SABIC Innovative Plastics
 Salomon Smith Barney
 Salomon Smith Barney - London
MBA Page | 58
1. Since how long you are working with Polaris software?
Associates response No of respondents percentage

Below 1 year 41 71.92
2 years 9 15.78
3 years 3 5.29
Above 4 years 4 7.01
Total 57 100
80
71.92
70
60
50
41
40
No of respondents
30 percentage
20 15.78
9
10 7.01
3 5.29 4
0
Below 1 2 years 3 years Above 4
year years
Interpretation:
 The survey finds that 71.92% associates are below 1 year.
 The survey finds that 15.78% associates are 2 years.
 The survey finds that 5.29% associates are below 3 years.
 The survey finds that 7.01% associates are below 4 years.
MBA Page | 59
2. You are encouraged to participate in trainings to improve your skills and

Competencies?
Associates response No. of respondents Percentages
Yes 55 96.50
No 2 3.50
Total 57 100
120
100 96.5
80
60 55 Yes
No
40
20
2 3.5
0
No. of respondents Percentages
INTERPRETATION:
 The survey finds that most of the associates are said yes (96.5%) i.e., they are
encouraged to participate in training to improve skills and competencies.
 But (3.5%) are said no, i.e., they are not encouraged to participate in training
to improve skills and competencies.
3. Do you feel that the organization provides opportunities for your growth and
development?
MBA Page | 60
Associates response No of respondents Percentage
Yes 50 87.71
No 7 12.29
Total 57 100
100
87.71
90
80
70
60
50
50 Yes
40 No
30
20 12.29
10 7
0
No of respondents Percentage
INTERPRETATION:
 The survey finds that most of the Associates are said yes (87.71%) i.e.,
Organization provides opportunities for your growth and development.
 But (12.29%) are said no, i.e., the organization was not providing
opportunities for your growth and development.
MBA Page | 61
4. Are your training programs linked with your career development /growth?
Yes 47 82.45
No 10 17.55
total 57 100
90 82.45
80
70
60
50 47
Yes
40 No
30
20 17.55
10
10
0
INTERPRETATION:
 The survey finds that most of the associates are said yes (82.45%) i.e., Training
programs linked with their career development /growth.
 But (17.55%) are said no, i.e., the training programs are not linked with their
career development /growth.
MBA Page | 62
5. Are there are any barriers of communication while you are communicating
with
Your superior?
Yes 49 85.95
No 8 14.5
total 57 100
100
90 85.95
80
70
60
49
50 Yes
40 No
30
20 14.5
10 8
0
INTERPRETATION:
 The survey finds that most of the associates are said yes (85.95%) i.e., there is
no Barriers of communication while you are communicating with Your
superior
 But (14.05%) are said no, i.e., there is a barrier of communications while they
are Communicating with superior.
6. Does your job profile match with your skills sets?

MBA Page | 63
Yes 54 94.74
No 3 5.26
Total 57 100
100 94.74
90
80
70
60 54
50 Yes
40 No
30
20
10 3 5.26
0
INTERPRETATION:
 The survey finds that 94.74% most of the associates are said yes i.e., their job
profile is matching with their skills.
 But 5.26% are said no, i.e., their job profile was not matching with their
skills.
7. Does your management come forward to support when you are facing with
critical situation?
MBA Page | 64

Strongly agree 8 14.50
Agree 35 62
Neutral 11 20
Disagree 2 3.50
Strongly disagree - -
Total 57 100
70 62
60
50
40 35
30
20
20 14.5
8 11 No of respondents
10 2 3.5 0 0 Percentage
0
INTERPRETATION
 The survey finds that 14.5% associates are said strongly agree.
 The survey finds that 62% associates are said Agree.
 The survey finds that 20% associates are said neutral.
 The survey finds that 3.5% associates are said disagree.
 The survey finds no one associate opted strongly disagree.
8. Did you get the recognition corresponding to your performance?
Yes 40 70.17
No 17 29.83
MBA Page | 65
total 57 100
80
70.17
70
60
50
40
40 Yes
29.83 No
30
20 17
10
0
INTERPRETATION
getting recognition for their performance.
 But (29.83%) are said no, i.e., they are not getting recognition.
9. Do you think that the implementation of three R’s (recognition, reward,

respect) will increase associates motivation levels?

Never 2 3.50
Sometimes 14 25.10
Most of the times 17 29.30
All the time 24 42.10
MBA Page | 66
Total 57 100
45 42.1
40
35
29.3
30 25.1 24
25
20 17
14
15
10 No of respondents
5 2 3.5 percentage
0
INTERPRETATION
 The survey finds that 3.5% associates are said never.

 The survey finds that 25.10% associates are said on sometimes.
 The survey finds that 29.30% associates are said most of the times.
 But 42.10% of associates are said all the time.
MBA Page | 67
10. Do you have the materials and equipment you need to do your work right?
Associate response No of respondents Percentage

Agree 33 57.90
Neutral 11 19.30
Disagree 3 5.25
Strongly disagree 2 3.50
Total 57 100
70
60 57.9
50
40
33
19.3 Percentage
20 14.05
11
10 8
5.25
3 2 3.5
0
Strongly Agree Neutral Disagree Strongly
agree disagree
INTERPRETATION
 The survey finds that 14.05% of associates are said strongly agree.
 The survey finds that 57.90% of associates are said Agree.
 The survey finds that 19.30% of associates are said neutral.
 The survey finds that 5.25% of associates are said disagree.
 The survey finds that 3.50% of associates are said strongly disagree.
11. How do you rate the infrastructure and facilities provided by the
organization?
MBA Page | 68

Highly satisfied 4 7.17
Satisfied 37 64.61
Neutral 12 21.05
Dissatisfied 4 7.17
Highly dissatisfied 0 0
Total 57 100
70 64.61
60
50
40 37
21.05 Percentage
20
12
10 4
7.17
4
7.17
0
Highly Satisfied Neutral Dissatisfied Highly
satisfied dissatisfied
 The survey finds that 7.17% of associates are said highly satisfied.
 The survey finds that 64.61% of associates are said satisfied.
 The survey finds that 7.17% of associates are said dissatisfied.
 The survey finds that no one of associates are not opted strongly disagree.
12. What do you feel about the working environment?

Highly satisfied 6 10.52
Satisfied 42 73.70
MBA Page | 69
Neutral 7 12.28
Dissatisfied 1 1.75
Highly dissatisfied 1 1.75
Total 57 100
80 73.7
70
60
50 42
40
30
20 12.28
6
10.52
7 No of respondents
10 1 1.75 1 1.75 Percentage
0
INTERPRETATION:
 The survey finds that 10.52% of associates are said highly satisfied.
 The survey finds that 73.70% of associates are said satisfied.
 The survey finds that 1.75% of associates are said dissatisfied.
 The survey finds that only 1.75% of associates are said strongly disagree.
MBA Page | 70
13.Do you perceive any stress in completing of task?

Agree 15 26.33
Neutral 24 42.10
Disagree 16 28.07
Strongly disagree 0 0
Total 57 100
45 42.1
40
35
30 26.33
28.07
25 24
20 16 No of respondents
15
15 Percentage
10
5 2 3.5
0 0
0
agree disagree
INTERPRETATION:
 The survey finds that no one associates are not opted strongly disagree.
14. Are you able to maintain work-life balance with this organization?
MBA Page | 71

Agree 33 57.89
Neutral 16 28.09
Disagree 3 5.26
Strongly disagree 3 5.26
Total 57 100
70
60 57.89
50
40
33
30 28.09 No of respondents
Percentage
20 16
10 5.26 5.26
2 3.5 3 3
0
agree disagree
INTERPRETATION:
 The survey finds that 5.26% of associates are said strongly disagree
15. Do you perceive fun at work place increase the motivation levels of
associates?
Yes 48 84.21
MBA Page | 72
No 9 15.79
Total 57 100
90 84.21
80
70
60
48
50
40 Yes
No
30
20 15.79
9
10
0
INTERPRETATION:
perceiving fun at work place increase the motivational level of associates.
 But (15.79%) are said no, i.e., they are not perceiving fun at work place
increase the motivational level of associates.
16. Would you like to put your efforts in reaching the organization’s vision?
Yes 56 98.25
No 1 1.75
MBA Page | 73
total 57 100
120
98.25
100
80
60 56 Yes
No
40
20
1 1.75
0
INTERPRETATION:
putting efforts in reaching company’s vision.
 But (1.75%) are said no, i.e., they are not putting efforts in reaching
company’s vision.
17.Have you ever suggested/will you suggest your friends/relatives to join the
Organization?
Yes 51 89.47
No 6 10.53
MBA Page | 74
total 57 100
100
89.47
90
80
70
60
51
50 Yes
40 No
30
20
10.53
10 6
0
INTERPRETATION:
suggest to their friends and relatives to join in the company
 But (10.53%) are said no, i.e., they are not suggest to their friends and
relatives to join in the company
MBA Page | 75
FINDINGS
 The most number of associates is encouraged to participate in training and

development programmes to improve their skills and competencies.
 The most number of associates intimated that organization is providing
opportunities for their career growth.
 It found that most of the associates intimated, the Training programs linked
with their career development /growth.
 It found that most of the associates are intimated that is there is
communication gap while they are communicating with their superior.
 It found that most of the associates are intimated; their job profile is matching
with their skills sets.
 It found that management is extends support whenever the associates are

facing any critical situation.
 It found that most of the associates intimated, they are getting recognition for
their performance.
 It found that most of the associates are satisfied with infrastructure in the
company.
 It found that most number of associates is satisfied with working environment.
 It found that most of the members have felt positive stress in completing task.
 It found that most of the associates are intimated, fun at work place increase
the motivation level of associates.
MBA Page | 76
SUGGESTIONS
 So many associates are not feeling well in handling stress with this company.
so, conduct some stress relief sessions for associates.
 Except that stress factor, the company associates are satisfied with all another
factors, continue these factors for smooth running of the organization.
 The organization has to design job profile with role clarity.
 The organization has to endure dyadic relationship between employer and

associate through participation.
 The organization has to evaluate performance appraisal not based on

performance but through behavior.
 Design an effective compensation package for your associates
MBA Page | 77
CONCLUSION
The process of retention is not as easy at it seems. There are so many tactics
and strategies used in retention of associates by the organizations. The basic purpose
of these strategies is to increase associate satisfaction, boost associates morale hence
achieve retention. If the associate retention practices are good the associates stay for
long time in the company. If the associate retention practices are not good the
associates switch over to other company.
MBA Page | 78
QUESTIONNAIRE
I (L.sandeep Kumar) am pursuing my M.B.A from G.pullaiah College of
Engineering & Technology, Kurnool. i am doing a project on the topic entitled “A
Study on Associate engagement which leads to Retention” in your organization as a
part of my course curriculum.
So, I request you to kindly co-operate with me by sparing few minutes to
fill up the questionnaire. Please give your frank opinion, as this information will be
kept confidential.
NAME:
DESIGNATION:
1. Since how long you are working with Polaris software? [ ]
(a) Below 1 year (b) 2 years (c) 3 years (d) Above 4 years
2. You are encouraged to participate in trainings to improve your skills and

Competencies? [ ]
(a) Yes (b) No
3. Do you feel that the organization provides opportunities for your growth and
development? [ ]
(a) Yes (b) No
4. Are your training programs linked with your career development /growth? [ ]
(a) Yes (b) No
5. Are there are any barriers of communication while you are communicating with
Your superior? [ ]
(a) Yes (b) No
MBA Page | 79
6. Does your job profile match with your skills? [ ]
(a) Yes (b) No
7. Does your management come forward to support when you are facing with critical
situation? [ ]
(a) Strongly agree (b) Agree (c) Neutral (d) Disagree (e) Strongly Disagree
8. Did you get the recognition corresponding to your performance? [ ]
(a) Yes (b) No
9. Do you think that the implementation of three R’s (recognition, reward, respect)
will increase associates motivation levels? [ ]
(a) Never (b) sometimes (c) most of the times (d) all the time
10. Do you have the materials and equipment you need to do your work right? [ ]
11. How do you rate the infrastructure and facilities provided by the organization? [ ]
(a) Highly satisfied (b) Satisfied (c) Neutral) (d) Dissatisfied (e) Highly
Dissatisfied
12. What do you feel about the working environment? [ ]
(a) Highly satisfied (b) Satisfied (c) Neutral) (d) Dissatisfied (e) Highly
Dissatisfied
13. Do you perceive any stress in completing of task? [ ]
14. Are you able to maintain work-life balance with this organization? [ ]
15. Do you perceive fun at work place increase the motivation levels of associates?
[ ]
(a) Yes (b) No
16. Would you like to put your efforts in reaching the organization’s vision?
MBA Page | 80
[ ]
(a) Yes (b) No
17. Have you ever suggested/will you suggest your friends/relatives to join the
Organization? [ ]
(a) Yes (b) No
18. What inspires you most in the organization?
Can you name more than

one__________________________________________________.
19. Any
suggestions__________________________________________________________
____________________________________________________________________.
*****Thank you*****
BIBLIOGRAPHY
MBA Page | 81
INTERNET
 www.polaris.co.in
 www.naukarihub.com
 www. wikipedia.com
 www.associate retention.com
BOOKS
 P.Subba rao, Personnel and Human resource management, Himalaya
Publishing House
 Ramlall, S. (2004), A Review of Associate Motivation Theories and

their Implications for Associate Retention, Journal of American
Academy of Business, Cambridge Sep 2004.Vol.5, Iss. 1
 DIPAK KUMAR, Research Methodology, Excel publishers,2nd
edition.
 KOTHARI.C.R,RESEARCH METHODOLOGY, New Age

International publishing, 5th edition
MBA Page | 82

Employee Retention MGNT

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Employee Retention MGNT

Uploaded by

Copyright:

Available Formats

GPCET (2009-2011) ASSOCIATE ENGAGEMENT WHICH LEADS TO RETENTION

The goal of Human Resource Management is to help the organization to

Human Resource Management includes several processes. These processes

MBA Page No:1

 Planning the workforce

In the era of global business, quality of human resources, skilled and

MBA Page No:2

Associate engagement is a concept that is generally viewed as managing

Features of associate engagement:

• Understanding of business context and the ‘bigger picture’

Diagnostic tools of associate engagement

MBA Page No:3

Why is Associate Engagement Important?

An organization’s capacity to manage associate engagement is closely related

• A culture of respect where outstanding work is valued

• Availability of constructive feedback and mentoring

• Opportunity for advancement and professional development

• Fair and appropriate reward, recognition and incentive systems

• Availability of effective leadership

• Clear job expectations

• Adequate tools to complete work responsibilities

• High levels of motivation

MBA Page No:4

MBA Page No:5

Unless IT companies treat retention of good associates as a business priority,

MBA Page No:6

Pay and Benefits:

Career Growth and Development:

MBA Page No:7

MBA Page No:8

Associate Retention involves taking measures to encourage associates to

Retention involves five major things:

MBA Page No:9

Salary and monthly wage:

MBA Page No:10

Organization should not limit the resources on which organization’s success

MBA Page No:11

5. Special project related skills

Need for such trainings can be recognized from individual performance

Lack of support from management can sometimes serve as a reason

Management can support associates by providing them recognition and

MBA Page No:12

reasons. This decreases associate’s interest and he becomes de-motivated. It leads to

a) Respect for the individual:

Respect for the individual is the must in the organization.

b) Relationship with colleagues:

c) Relationship with the immediate manager:

d) Promote an associate based culture:

Organizations should be loyal as well as they should promote loyalty in the

MBA Page No:13

Taking proper care of associates includes importance to the associate’s

It is not about managing retention. It is about managing people. If an

People want to work for an organization which provides:

1. Appreciation for the work done

a) Organization Environment includes:

MBA Page No:14

Types of environment the associate needs in an organization:

It includes continuous learning and improvement of the individual, certifications and

It includes efficient managers, supportive co-workers, challenging work,

Associate Retention strategies:

The basic practices which should be kept in mind in the associate strategies

1.Hire the right people in the first place.

MBA Page No:15