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MANAGEMENT
THROUGH
SEPTEMBER- 2021
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TABLE OF CONTENTS
S. NO TITLE PAGE NO
1 Introduction 10
2 Research Methodology 19
4 Data Analysis 23
5 Employee’s Satisfaction 25
Regarding Monetary Benefits
Provided By The Company
6 Retention Bonus 43
7 Research Method 55
8 Suggestion 59
9 Conclusion 60
10 Bibliography 64
7
“STYDY ON EMPLOYEE RETENTION IN
PRIVATE SECTOR ”
ABSTRACT
Most employees feel that they are worth more than they are actually paid.
There is a natural disparity between what people think they should be paid and
what organizations spend in compensation. When the difference becomes too
great and another opportunity occurs, turnover can result. Pay is defined as the
wages, salary, or compensation given to an employee in exchange for services
the employee performs for the organization. Pay is more than "dollars and
cents;" it also acknowledges the worth and value of the human contribution.
What people are paid has been shown to have a clear, reliable impact on
turnover in numerous studies.
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INTRODUCTION
10
Compensation packages vary from industry to industry. So an attractive
compensation package plays a critical role in retaining the employees.
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 wages represent the level of skill and experience an individual has.
Time to time increase in the salaries and wages of employees should be done.
And this increase should be based on the employee’s performance and his
contribution to the organization. Bonus: Bonuses are usually given to the
employees 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
employees in the organization's start up stage.
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After retirement: It includes payments that an Employee gets after he
retires like EPF (Employee Provident Fund) etc.
NTPC
Learning and growth opportunities
Competitive rewards
Opportunity to grow, learn and implement
Strong social security and employee welfare performance- oriented
culture.
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Tata Steel
Organization philosophy and culture
Job stability
Freedom to work and innovate
Colgate Palmolive India
Company brand
Open , transparent, and caring organization
Management according to the managing with respect to guiding
principles
Training ad development programs
Structured career planning process
Global career opportunities
Wipro
Company’s brand as an employer
Early opportunities for growth
High degree of autonomy
Value compatibility
Innovative people program
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TCS
The group brand equity
Strong corporate governance and citizenship
Commitment to learning and development
Best in people practices
Challenging assignments
Opportunity to work with fortune 500 clients
Organization Environment
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Types of environment the employee 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:
Flexible hours
Telecommuting
Dependent care
Alternate work schedules
Vacations
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 employees to look for new opportunities. The
environment should be such that the employee feels connected to the
organization in every respect.
Growth and Career Growth and development are the integral part of
every individual’s career. If an employee 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 employee growth that an employee looks for himself
are:
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Work profile: The work profile on which the employee is working
should be in sync with his capabilities. The profile should not be too low
or too high.
Personal growth and dreams: Employees responsibilities in the
organization should help him achieve his personal goals also.
Organizations cannot keep aside the individual goals of employees and
foster organizations goals. Employees’ 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: Employees should be trained and given
chance to improve and enhance their skills. Many employers fear that if
the employees 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:
Communications skills
Technical skills
In-house processes and procedures improvement related skills or
customer satisfaction related skills
Special project related skills
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There are times when an employee starts feeling bitterness towards the
management or peers. This bitterness could be due to many reasons. This
decreases employee’s interest and he becomes demotivated. It leads to less
satisfaction and eventually attrition. A supportive work culture helps grow
employee professionally and boosts employee satisfaction. To enhance good
professional relationships at work, the management should keep the following
points in mind. Respect for the individual: Respect for the individual is the
must in the organization.
Relationship with the immediate manager: A manger plays the role of
a mentor and a coach. He designs and plans work for each employee. It is
his duty to involve the employee in the processes of the organization. So
an organization should hire managers who can make and maintain good
relations with their subordinates.
Relationship with colleagues: Promote team work, not only among
teams but in different departments as well. This will induce competition
as well as improve the Relationship among colleagues.
Recruit whole heartedly: An employee should be recruited if there is a
proper place and duties for him to perform. Otherwise he’ll feel useless
and will be dissatisfied.
Employees should know what the organization expects from them and what
their expectation from the organization is. Deliver what is promised. Promote an
employee based culture: The employee should know that the organization is
there to support him at the time of need. Show them that the organization cares
and he’ll show the same for the organization. An employee based culture may
include decision making authority, availability of resources, open door policy,
etc.
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Individual development: Taking proper care of employees includes
acknowledgement to the employee’s dreams and personal goals. Create
opportunities for their career growth by providing mentorship programs,
certifications, educational courses, etc.
Induce loyalty: Organizations should be loyal as well as they should
promote loyalty in the employees too. Try to make the current employees
stay instead of recruiting new ones.
Support Lack of support from management can sometimes serve as a reason for
employee retention. Supervisor should support his subordinates in a way so that
each one of them is a success. Management should try to focus on its employees
and support them not only in their difficult times at work but also through the
times of personal crisis. Management can support employees by providing them
recognition and appreciation. Employers can also provide valuable feedback to
employees and make them feel valued to the organization
The feedback from supervisor helps the employee to feel more responsible,
confident and empowered. Top management can also support its employees in
their personal crisis by providing personal loans during emergencies, childcare
services, employee assistance Programs, counselling services, etc Employers
can also support their employees by creating an environment of trust and
inculcating the organizational values into employees. Thus employers can
support their employees in a number of ways as follows:
By providing feedback
By giving recognition and rewards
By counselling them
By providing emotional support
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RESEARCH METHODOLOGY
Research Design:
The research design indicates the type of research methodology under
taken to collect the information for the study. The researcher used both
descriptive and analytical type of research design for his research study. The
main objective of using descriptive research is to describe the state of affairs as
it exits at present. It mainly involves surveys and fact finding enquiries of
different kinds. The researcher used descriptive research to discover the
characteristics of customers. Descriptive research also includes demography
characteristic of consumer who use the product. The researcher also used
analytical research design to analyze the existing facts from the data collected
from the customer.
Area of study:
The area of study is confined to employees of GEMINI COMMUNICATION
LTD, Chennai.
Research instrument:
The Structured questionnaire is used as the research instrument for the study.
Questionnaire Design:
The questionnaire framed for the research study is a structured questionnaire in
which all the questions are predetermined before conducting the survey. The
form of question is of both closed and open type.
The scales used to evaluate questions are:
Dichotomous scale (Yes or No)
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Likert 5 point scale (Highly satisfied, satisfied, Neither Satisfied nor
dissatisfied, Dissatisfied, Highly dissatisfied)
Category scale (Multiple items)
Ranking type (R1, R2, R3…)
The questionnaire for the research was framed in a clear manner such that it
enables the respondents to understand and answer the question easily. The
questionnaire was designed in such a way that the questions are short and
simple and is arranged in a logical manner.
Pilot study:
It is appropriate to conduct pilot survey to check the reliability of the
questionnaire. So pilot study was conducted on 5 respondents which is a 10% of
the sample.
Sampling design:
A Sample design is a definite plan for obtaining a sample from a given
population. It is the procedure used by the researcher in selecting items for the
sample.
Sample size:
Sample size=125 samples, variance and confidence methods are used for
determining sample size.
Sampling Technique:
The researcher adopted simple random sampling for the study
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DATA COLLECTION METHOD
Primary data:
Primary data is the new or fresh data collected from the respondents through
structured scheduled questionnaire.
Secondary data:
The secondary data are collected through the structured questionnaire, literature
review and also from the past records maintained by the company.
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ONE RUN TEST:
Null hypothesis (H0):
There is a no significant relationship between the variables
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5. The accuracy of findings is limited by the accuracy of statistical tools used
for analysis.
6. Findings of the research may change due to area, demography, age condition
of economy etc.
Chi-Square Test
To find whether there exists a significant relationship between Work Culture of
the Company and interpersonal relationship between employees.
Result:
There is a significant relationship between overall satisfaction and aspects of
job.
23
Alternate hypothesis (H1): There is a significant difference in the rank
assigned by respondents towards the attributes that gives them satisfaction in
the company.
Result:
There is a significant difference in the rank assigned by respondents towards the
attributes that gives them satisfaction in the company.
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EMPLOYEE’S SATISFACTION REGARDING MONETARY BENEFITS
PROVIDED BY THE COMPANY
Retention Management:
Abstract:
Background: retention management is a highly topical subject and an
important dilemma many organizations might face in the future, if not facing it
already. We believe that the leader plays a key role in employee retention and
retention management. The concept of retention management can both have an
arrow, and a broader significance. Both parts of its significance are generally
included in this thesis. The background of the thesis present a few articles that
discuss issues that makes it important for the organization, and the leaders, to
work hard with retention management. The research is based on the leaders in
the Finnish case company Tradeka. Following key questions are intended to be
answered: What are the consequences between leaders actions and employees
retention? Which is the leader’s role when it comes to retaining employees?
Purpose statement: The purpose of the thesis is to investigate and analyze how
company leaders today can retain their key employees. How can the provision
of key human resources develop a long-term relationship that makes top
employees stay in the company? The study aims to establish the procedure
leaders apply to retain employees. The purpose is to compare the qualitative
study, made at the case company, with findings from the thesis theoretical
framework.
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company, is to make the information from the theories more valid, and also the
interest in how retention management works in practice. Eleven qualitative
interviews were conducted at Tradeka? financial department, both with
supervisors and employees to get a broader view at the phenomenon retention
management. Result: Leaders and their skill in creating a culture of retention,
has becoming a key in why people stay and what usually drives them away from
a company. The leader has become the main factor in what motivates people’s
decision to stay or leave. For organizations to keep its key employees their
number one priority should be to look at their management, because people
leave managers and not companies. Characteristics in a leader that are of
importance, as the leader plays a key role in retention management is: trust
builder, esteem builder, communicator, talent developer and coach, and talent
finder. The leader’s relation to the employees plays a central role in retaining
employees.
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9. Create an environment where the employees want to work and have fun.
These practices can be categorized in 3 levels:
Low,
medium and
high level.
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Computer peripherals purchase discounts
Providing workplace conveniences·
On-site ATM
On-site facilities for which cost is paid by employees
laundry facility for bachelors
Shipping services
Assistance with tax calculations and submission of forms
Financial planning assistance
Casual dress policies
Facilities for expectant mothers
Parking
Parenting guide
Lactation rooms
Flexi timings
Fun at work·
Celebrate birthdays, anniversaries, retirements, promotions, etc
Holiday parties and holiday gift certificates
Occasional parties like diwali, holi, dushera, etc
Organize get together for watching football, hockey, cricket matches
Organize picnics and trips for movies etc
Sports outings like cricket match etc
Indoor games
Occasional stress relievers·
“Casual dress” day
“Green is the color” day
Handwriting analysis
Tatoo, mehandi, hair braiding stalls on weekends
Mini cricket in office
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Ice cream Fridays
Holi-Day breakfast
Employee support in tough time or personal crisis·
Personal loans for emergencies
Childcare and eldercare services
Employee Assistance Programs ( Counselling sessions etc)
Emergency childcare services
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Regular feedbacks on organization’s goals and activities should be
taken from the employees by:
Management communications
Intranet and internet can be used as they provide 24X7 access to the
information Newsletters, notice boards, etc.
Hire the right people from the beginning: employee retention is not a
process that begins at the end. The process of retention begins right from
the start of the recruitment process.
The new joinees should fit with the organization’s culture. The personality,
leadership characteristics of the candidate should be in sync with the culture of
the hiring organization. Referral bonus should be given to the employees for
successful hires. They are the best source of networking. Proper training should
be given to the managers on interview and management techniques. An
internship program can be followed to recruit the fresh graduates.
Quality Of Work
The success of any organization depends on how it attracts, recruits, motivates,
and retains its workforce. Organizations need to be more flexible so that they
develop their talented workforce and gain their commitment. Thus,
organizations are required to retain employees by addressing their work life
issues. The elements that are relevant to an individual’s quality of work life
include the task, the physical work environment, social environment within the
organization, administrative system and relationship between life on and off the
job. The basic objectives of a QWL program are improved working conditions
for the Employee and increase organizational effectiveness.
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Providing quality work life involves taking care of the following aspects:
Occupational health care: The safe work environment provides the basis for
the person to enjoy working. The work should not pose a health hazard for the
person. The employer and employee, aware of their risks and rights, could
achieve a lot in Their mutually beneficial dialogue.
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Organizations these days want to protect their biggest and most valuable asset
and they want to do this in a way that best suits their organizational culture.
Retaining employees is a difficult task. Providing support to the employees acts
as a mantra for retraining them. Employers can also support their employees by
creating an environment of trust and inculcating the organizational values into
employees.
Engage the new recruits: The newly hired employees are said to be least
engaged in the organization. Keeping them engaged is an important task. The
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fresh talent should be utilized to maximum before they start feeling bored in the
organization.
Feedback
Feedback acts as a channel of communication between the employee and his
manager. The amount of information employees receive about how well or how
poorly they have performed is what we call feedback. It is a dialog between a
manager and an employee which acts as a way of sharing information about the
performance. It suggests where the employee performance is effective and
where performance has to improve. Managers can provide either positive
feedback or negative feedback to employees. This feedback helps the employee
assess his performance and identify the improvement areas. Positive feedback
communicates managerial satisfaction. Positive recognition for good
performance boosts up morale of employees and results in performance
improvement to a higher productivity level. It is believed that positive feedback
is the only type of feedback that generates performance above the minimum
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acceptable level. Negative feedback obviously communicates manager’s
dissatisfaction. However, negative feedback sometimes make employee to put
more efforts to improve his performance. But such times are very rare.
Moreover this improvement is short term. Some managers do not provide any
kind of feedback to their employees. Due to no feedback, employees may
assume that they are performing productively or they may feel that the manager
is satisfied with their performance. Studies reveal the performance tends be
same or even decreases if no feedback is provided. Thus, feedback is necessary
because:
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Communication Between Employee and Employer
Category A: These are the employees who lack communication with their
employers.
Category C: These are the employees who have proper, well structured
communication with their employers. Communication is also the way to win the
employees trust in the organization. Employees trust the employers who are
friendly and open to them. This trust leads to employee loyalty and finally
retention.
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Employers also feel that the immediate supervisors are the most authenticated
and trusted source of information for them. So the organizations should hire
managers who are active communicators. Communication mediums.
Open door policy: Organizations should support open door policies so that the
employees feel comfortable and are able to express their doubts and feeling to
their employers. Frequent meetings and Social gatherings Emails, Newsletters,
Intranet and many more. So there should be effective communication across the
organization and this communication should be two-way. Communication alone
can lead to unimaginable heights of employee retention.
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encourage continued sponsorship of the business. When an employee leaves, the
relationships that employee built for the company are severed, which could lead
to potential customer loss.
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.
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.
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No growth opportunities: No or less learning and growth opportunities in the
current job will make candidate’s job and career stagnant.
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.
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The organizations should start with identifying the employee turnover rates
within a particular time period and benchmark it with the competitor
organizations. This will help in assessing the whether the employee retention
rates are healthy in the company. Secondly, the cost of employee turnover can
be calculated. According to a survey, on an average, attrition costs companies
18 months’ salary for each manager or professional who leaves, and 6 months’
pay for each hourly employee who leaves. This amounts to major organizational
and financial stress, considering that one out of every three employees plans to
leave his or her job in the next two years.
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organization’s reward strategy reflects the employee drivers How To Increase
Employee Retention Companies have now realized the importance of retaining
their quality workforce. Retaining quality performers contributes to productivity
of the organization and increases morale among employees/ Four basic factors
that play an important role in increasing employee retention include salary and
remuneration, providing recognition, benefits and opportunities for individual
growth. But are they really positively contributing to the retention rates of a
company? Basic salary, these days, hardly reduces turnover. Today, employees
look beyond the money factor.
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RETENTION BONUS
Higher attrition rates within a particular industry have forced companies to use
some innovative strategies to retain employees. Retention Bonus is one of the
important tools that are being used to retain employees. Retention bonus is an
incentive paid to an employee to retain them through a critical business cycle.
Retention bonuses are becoming more common in the corporate world because
companies are going through more transitions like mergers and acquisitions.
They need to give key people an attractive incentive to stay on through these
transitions to ensure productivity. Retention bonuses have proven to be a useful
tool in persuading employees to stay. A retention bonus plan is not a panacea.
According to a survey, non management employees generally receive about 10
percent of their annual salaries in bonuses, while management and top-level
supervisors earn an additional 50 percent of their annual salaries. While bonuses
based on salary percentages are the generally used, some companies choose to
pay a flat figure. In some companies, bonuses range from 25 percent to 50
percent of annual salary, depending on position, tenure and other factors.
Employees are chosen for retention bonuses based on their contributions to
management and the generation of revenue. Retention bonuses are generally
vary from position to position and are paid in one lump sum at the time of
termination. However, some companies pay in instalments as on when the
business cycle completes. A retention period can run somewhere between six
months to three years. It can also run for a particular project. A project has its
own life span. As long as the project gets completed, the employees who have
worked hard on it are entitled to receive the retention bonus. For example, the
implementation of a system may take 18 months, so a retention bonus will be
offered after 20 months. Although retention bonuses are becoming more
common everywhere, some industries are more likely than others to offer them.
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Retail/wholesale companies are the most appropriate to implement stay-pay
bonuses, followed by financial service providers and manufacturing firms.
Companies of all sizes use retention bonus plans to keep knowledge employees
retained in the company. To retain its key senior employees post merger with
EDS Corporation, Mphasis is providing cash component based retention bonus
plan for its employees. This is mainly to retain good employees and provide
them a cash incentive to keep them motivated.
Provide realistic job preview at the time of hiring: Mostly employees leave
an organization because they are given the real picture of their job
responsibilities at the time of joining. Attrition rate can be reduced if a right
person is hired for a right job. Realistic preview of the job responsibilities can
be given to the employment seekers by various methods like discussions, trial
periods, internships etc.
Clearly discuss what is expected from the employee: Before joining the
organization, tell the candidate what is expected from him. Setting wrong
expectations or hiding expectations will result in early leaving of employees.
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Discuss what the expectations of the employees are: Ask employees what
they expect from the organization. Be realistic. If their requirements can be
fulfilled only then promise them. Or tell them beforehand that their
requirements cannot be fulfilled.
Don’t show them an unrealistic picture Culture fit: Try to judge individual’s
capability to adapt to the organization’s culture. A drastic change in the culture
may give a culture shock to the candidate.
Referrals: According to· the research, referred candidates stay longer with the
organization. There is a fear of hampering the image and reputation of the
person who referred the candidate.
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events. e.g. arranging a talk by the VP of Quality on career opportunities in the
field of quality. Employees who look forward to these events and are likely to
remain more engaged.
Standing up for the Team: Team leaders are closest to their team members.
While they need to ensure smooth functioning of their teams by implementing
management decisions, they also need to educate their managers about the
realities on the ground. When agents see the team leader standing up for them,
they will have one more reason to stay in the team.
Delegation: Many team leaders and managers feel that they are the only people
who can do a particular task or job. Therefore, they do not delegate their jobs as
much as they should. Delegation is a great way to develop competencies. Extra
Responsibility: Giving extra responsibility to employees is another way to get
them engaged with the company. However, just giving the extra responsibility
does not help. The manager must spend good time teaching the employees of
how to manage responsibilities given to them so that they don’t feel over
burdened.
Focus on future career: Employees are always concerned about their future
career. A manager should focus on showing employees his career ladder. If an
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employee sees that his current job offers a path towards their future career
aspirations, then they are likely to stay longer in the company. Therefore,
managers should play the role of career counsellors as well.
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effect will occur. Employees may feel that their performance is unrecognized
and not valued, or that others in the organization are rewarded for the wrong
behaviours. Unrecognized and no valued performance can contribute to
turnover. Recognition for a job well done fills the employees' need to receive
positive, honest feedback for their efforts.
Case Studies
1. Employee Retention Best Practices in Keeping and Motivating
Employees By LisBeth Claus Ask any CEO of an organization, “What
keeps you awake at night?” and you will get a response that relates to
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people management issues. a main concern for any organization (whether
small or large; private, public or nonprofit) is its capacity to attract,
engage, and retain the right people. The problem of retention is
compounded by the predicted talent shortage resulting from the upcoming
retirement of the baby boomers, the scarcity of talent with relevant work
skills for today’s jobs, the changing values about work and the high cost
of turnover. Research and human resource practices provide us with a
number of recommendations to increase employee retention.
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The hiring process, in-ternal labor market and career, motivation and
performance, and finally culture and leader-ship. These four categories are
initially based on Leigh Branham?s book: ?Keeping the people who keep you in
business: 24 ways to hang on to your most valuable talent? (Bran-ham, 2001).
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development and work-atmosphere is important for job satisfaction and
retention.
The survey has a quantitative approach with a web based questionnaire and
includes 129 respondents from banks, insurance and finance companies. The
theoretical framework includes leadership and leadership style, financial as well
as non-financial remuneration and research done in later years regarding
participation, feedback, autonomy, fairness, responsibility, development and
work-atmosphere connected to retention.
Conclusion: The result shows that regarding leadership the respondents prefer
leadership based on relations were they feel appreciation. Both appreciations
from the closest manager as well as the company management influences
employee job satisfaction in a positive way. More money was the most common
reason for wanting to change jobs, and when asking how the remuneration
system should be designed, base pay with additional bonus and benefits were
preferred. But also non financial factors such as participation, feedback,
autonomy, fairness, responsibility, development and work-atmosphere must be
53
taken in consideration to satisfy since they seem to increase employees?
Willingness to stay in the company.
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RESEARCH METHOD
Findings
55
It is found out that, 76% of respondents are getting right amount of
accurate information at right time and 24% of respondents are not getting
right amount of accurate information at right time.
It is found out that, 82% of respondents are able to meet superior’s
expectation and 18% respondents are not able to meet superior’s
expectation.
It is found out that,57% of respondents feels that there pay is on par with
compare to employee’s handling similar responsibilities, and 39% of
respondents feels that there pay is less with compare to employee’s
handling similar responsibilities.
It is found out that, 70% of respondents are satisfied with hygiene and
cleanliness of company infrastructure and 30% of respondents are not
satisfied with hygiene and cleanliness of company infrastructure.
It is found out that, 40% of respondents are satisfied with Availability of
system, storage facilities of company and 60% of respondents are not
satisfied with Availability of system, storage facilities of company.
It is found out that, 78% of respondents skills are recognized by superiors
and 22% of respondents skills are not recognized by superiors.
It is found out that, 74% of respondents feel that superiors are taking
efforts to motivate them and 26% of respondents feel that superiors are
not taking efforts to motivate them.
It is found out that, 83% of respondents feel that workload is manageable
and 10% of respondents feel that workload is very hard to manage.
It is found out that,55% of respondents feels that the field worker are able
to get updates on internal activities, and 45% of respondents feels that the
field worker are not able to get updates on internal activities.
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It is found out that, 89% of respondents feel that the superiors are easily
accessible and 11% of respondents feel that the superiors are not easily
accessible.
It is found out that, 51% of respondents feel that their complaints are
resolved quickly and 49% of respondents feel that their complaints are
not resolved quickly.
From weighted Average analysis it is found that most of the respondents
are
satisfied with the working hours of the organization
From weighted Average analysis it is found that roles & responsibilities
are clearly defined by the Reporting heads.
From weighted Average analysis it is found that employees feel that their
superior's commitment towards job is good.
From weighted Average analysis it is found that respondents feel that
training and orientation programs are neither good nor bad.
From weighted Average analysis it is found that most of the respondents
are
satisfied with job.
From chi-square it is found that there is a significant relationship between
Work Culture of the Company and interpersonal relationship between
employees.
From chi-square it is found that there is a no significant relationship
between
overall satisfaction and Commitment towards Company.
From chi-square it is found that there is a significant relationship between
overall satisfaction and aspects of job.
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From Kendall’s coefficient of concordance it is found that there is a
significant difference in the rank assigned by respondents towards the
attributes that gives them satisfaction in the company.
From One Run Test it is found that the samples are taken randomly.
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SUGGESTIONS
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CONCLUSION
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Recommendations:
1. Develop an attractive employee value proposition. An employee value
proposition means that your company has something attractive to offer that is
perceived as valuable to an employee. as an employer, you must understand
what makes your organization attractive to potential recruits and current
employees. Branding yourself as an employer of choice is not just a slick set of
marketing tactics. The best advocates for an employer’s brand are its current
employees. What messages do they send to others about their employer? Are
they honestly saying and believing that, “This is a great place to work.”
2. Create a total reward structure that includes more than compensation. Every
company should have all the normal compensation mechanisms common to
their type of employment. yet, total rewards packages go far beyond money.
While money might temporarily retain employees, it does not always equate
with engagement. People want a chance to make a difference and realize
themselves. That self-realization is multi-dimensional and different for each
employee. The total reward structure should include, in addition to
compensation, support for employees to attain their personal objectives aligned
with the goals of their organization.
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4. Be flexible in terms of work-life balance. Workers more and more value a
balance between work and life. They want more flexible ways to engage with
their employer. To attract and retain workers with different work and career
expectations, organizations have to be more flexible in structuring work and its
expectations. It calls for a different managerial mindset and practices that
involve letting go of old ways of controlling workers’ time and attendance in
favour of result criteria such as output, productivity and quality.
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fairly simple: Can I trust you? are you committed to excellence? Do you care
about me? What people constantly ask of their organization is: Do you tell the
truth? Do you keep promises? Do you act fairly? Do you respect me? Managers
and organizations that keep these questions in mind will have a competitive
advantage over others in retaining their employees.
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BIBLIOGRAPHY
BOOKS
・ Human Resource Management C. B. Memoria
・ Research methodology C. R. Kothari
・ Journals, Newspaper and Internet
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