Professional Documents
Culture Documents
DEFINITION
In the best of worlds, employees would love their jobs, like their co-workers,
work hard for their employers, get paid well for their work, have ample chances for
advancement, and flexible schedules so they could attend to personal or family
needs when necessary.
But then there's the real world. And in the real world, employees, do leave,
either because they want more money, hate the working conditions, hate their co-
workers, want a change, or because their spouse gets a dream job in another state.
So, what does that entire turnover cost? And what employees are likely to have the
highest turnover? Who is likely to stay the longest?
Employees today are different. They are not the ones who don’t have good
opportunities in hand. As soon as they feel dissatisfied with the current employer
or the job, they switch over to the next job. It is the responsibility of the employer
to retain their best employees. If they don’t, they would be left with no good
employees. Employee retention matters, as, organizational issues such as training
time and investment, costly candidate search etc., are involved. Hence, failing to
retain a key employee is a costly proposition for any organization
THEORITICAL REVIEW
Introduction – Attrition
Attrition is one of the biggest issues which the growing ITES industry in
India is facing. The effects of attrition are wide varying and impacts the firms in
terms of losses (due to training and administration cost, high recruitment cost),
incompetent processes, inability to offer services for highly technical process
Attrition though a nuisance also has some associated benefits along with
such as low cost of operation, knowledge sharing amongst the firms benefiting the
overall industry in increasing its competencies. Attrition usually occurs on two
fronts - people leaving the industry and people shifting jobs inside the industry.
Both of them have separate causes which have been identified in this paper
IMPACT OF ATTRITION
If all employees stay in the same organization for a very long time, most of
them will be at the top of their pay scale which will result in excessive
manpower costs.
New employees bring new ideas, approaches, abilities & attitudes which can
keep the organization from becoming stagnan
ATTRITION RATES
INDUSTRY PROFILE
Introduction
Retail means selling goods and services in small quantities directly to
customers. Retailing consists of all activities involved in marketing of goods and
services directly to consumer for their personnel family and household use.
Sector details
History of retailing
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is
one of India’s leading business houses with multiple businesses spanning across
the consumption space. While retail forms the core business activity of Future
Group, group subsidiaries are present in consumer finance, capital, insurance,
leisure and entertainment, brand development, retail real estate development, retail
media and logistics.
Led by its flagship enterprise, Pantaloon Retail, the group operates over 16
million square feet of retail space in 73 cities and towns and 65 rural locations
across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs
around 30,000 people and is listed on the Indian stock exchanges. The company
follows a multi-format retail strategy that captures almost the entire consumption
basket of Indian customers. In the lifestyle segment, the group operates Pantaloons,
a fashion retail chain and Central, a chain of seamless malls. In the value segment,
its marquee brand, Big Bazaar is a hypermarket format that combines the look,
touch and feel of Indian bazaars with the choice and convenience of modern retail.
In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic
expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in
Kolkata, Hyderabad and Bangalore.
In 2008, Big Bazaar opened its 100th store, marking the fastest ever organic
expansion of a hypermarket. The first set of Big Bazaar stores opened in 2001 in
Kolkata, Hyderabad and Bangalore.
In vadapalani big bazzar store 160 employees are working.Big Bazaar is not
just another hypermarket. It caters to every need of a family. Where Big Bazaar
scores over other stores is its value for money proposition for the Indian customers.
At Big Bazaar, one can get the best products at the best prices that is what they
guarantee. With the ever increasing array of private labels, it has opened the doors
into the world of fashion and general merchandise including home furnishings,
utensils, crockery, cutlery, sports goods and much more at prices that will surprise
you. And this is just the beginning. Big Bazaar plans to add much more to
complete the shopping experience. Food is the main shopped for category in this
store.
PARENT COMPANY:-
Pantaloon Retail (India) Limited, is Indias leading retailer that operates multiple
retail
formats in both the value and lifestyle segment of the Indian consumer market.
1. E-tailing
2.Food
3.Fashion
4.Home Solution
5.General Merchandise
OBJECTIVES OF STUDY
PRIMARY OBJECTIVES
To understand the factors that influence the employee turnover
SECONDARY OBJECTIVES
LIMITATIONS OF STUDY
The survey was limited to the organization; hence the result obtained from the study may not
be universally applicable.
It was difficult to meet all the respondents in the organization.
The respondents were reluctant to answer due to their busy schedule.
Some of the respondents might have answered in a biased manner.
The method used for data collection is by using questionnaire and the main
draw back of this method is the chance of biases is high.
REVIEW OF LITERATURE
“Any attrition in any form is bad for an organization. It means that a wrong
choice was made at the beginning" says NR Ganti Chairman and MD, SQL Star
International.
Studies from the Gallup organization show that employees who have an
above-average attitude toward their work will generate 38 percent higher customer
satisfaction scores, 22 percent higher productivity, and 27 percent higher profits for
their companies.
High attrition implies that certain necessary skills are vulnerable or are not
present due to employees being lost" says Vikram Bhardwaj, Managing Director,
and Redileon
Stress from overwork and work life imbalance: Job stress can lead to
work life imbalance which ultimately many times lead to employee leaving
the organization.
New job offer: An attractive job offer which an employee thinks is good for
him with respect to job responsibility, compensation, growth and learning
etc. can lead an employee to leave the organization.
Job and person mismatch: A candidate may be fit to do a certain type of
job which matches his personality
Job is not what the employee 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
ORGANISATIONAL MATTERS
WORKING ENVIRONMENT
JOB MATTERS
No doubt the jobs today bring lots of pressure and stress is high. The
employees leave the job if there is too much pressure on performance or any work
related pressure. It is quite common that employees are moved from one process to
another. They take time to get adjusted with the new campaigns and few
employees find it difficult to get adjusted and they leave immediately. Monotony
sets in very quickly and this is one of the main reasons for attrition. Youngsters
look jobs as being temporary and they quickly change the job once they get into
their own field. The other option is to move to such other process work where there
is no pressure of sales and meeting service level agreements (SLA). The employees
move out if there are strained relations with the superiors or with the subordinates
or any slightest discontent.
Moving from one job to another for higher salary, better positions and better
benefits are the most important reasons for attrition. The salary and offered from
MNC companies in Bangalore, Delhi and Mumbai have gone up very high (Rs
15000 to Rs 18000 per month) and it is highly impossible for Indian companies to
meet the expectation of the employees. The employees expect salary revision once
in 4-6 month sand if not they move to other organizations.
PERSONAL REASONS
The personal reasons are many and only few are visible to us. Theforemost
personal reasons are getting married or falling in love orchange of place. The next
important personal reason is going forhigher education. Most of the BE, MCA and
others appear for GATEexamination or other examinations and once they get
cleared theyquickly move out.Health is another aspect, which contributes for
attrition. Employees doget affected with health problems like sleep disturbances,
indigestion,headache, throat infection and gynecological dysfunction for
ladyemployees. Employees who have allergic problems and unable to copewith the
AC hall etc will tend to get various other health problems and loose interest to
work.
POACHING
The demand for trained and competent manpower is very high.Poaching has
become very common. The big companies targetemployees of small companies.
The placement agencies have gooddays for doing more business.
The employees with 4-6 months experience have very good confidenceand dare to
walk out and get a better job in a week's time. Most of theorganizations have
employee referral schemes and this makes peopleto spread message and refer the
know candidates from the previous companies and earn too.
EMPLOYEES ADVOCATE
RESEARCH METHODOLOGY
RESEARCH DESIGN
The type of research design to be used for this study is Descriptive research design
UNIVERSE
SAMPLING METHOD
RANDOM SAMPLING
A sample is a subject chosen from a population for investigation. A random
sample is one chosen by a method involving an unpredictable component. Random
sampling can also refer to taking a number of independent observations from the
same probability distribution, without involving any real population. The sample
usually is not a representative of the population from which it was drawn— this
random variation in the results is known as sampling error. In the case of random
samples, mathematical theory is available to assess the sampling error. Thus,
estimates obtained from random samples can be accompanied by measures of the
uncertainty associated with the estimate. This can take the form of a standard error,
or if the sample is large enough for the central limit theorem to take effect,
confidence may be calculated.
The tool to be made use for data collection is questionnaire and exit
interview .In this method a questionnaire is sent to the persons concerned with
request to answer the questionnaire. A questionnaire consists of a number of
questions printed or typed in a definite order or set of forms.
SAMPLE SIZE:
The sample size for this study is taken as 150 for the interview and issue questionnaires.
The work does not end by framing the design. It is necessary to acquire the various details. The
collected information is aimed at getting a truthful & clear result. The results can be further analyzed
selection of best possible method for collecting data becomes very vital for this type of study
Data is basically collected in two methods. They are classified in two years.
Primary data
Secondary data
PRIMARY DATA
SECONDARY DATA:
These are data which were already collected & available for other purposes then for solving the
problem that is undertaken.
OBSERVATION METHOD
INTERVIEW METHOD
THROUGH QUESTIONNAIRES