• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Hrm project ... ultra tech cement
 

Hrm project ... ultra tech cement

on

  • 2,938 views

 

Statistics

Views

Total Views
2,938
Views on SlideShare
2,938
Embed Views
0

Actions

Likes
0
Downloads
97
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Microsoft Word

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Hrm project ... ultra tech cement Hrm project ... ultra tech cement Document Transcript

    • TOPIC“HUMAN RESOURCE MANAGEMENT” OF “ADITYA BIRLA GROUP ” SUBMITTED BY MONALISA BHAVESH PATEL M.COM (I SEMESTER) PROJECT GUIDE PROF. SONAL BAPNA SUBMITTED TO UNIVERSITY OF MUMBAI RAJASTHANI SAMMELAN’S Ghanshyamdas Saraf College Affiliated to University of MumbaiACCREDITED BY NAAC WITH ‘A’ GRADE & Durgadevi Saraf Junior College (ARTS & COMMERCE) S.V.Road, Malad (W) Mumbai: 400 064 Year: 2012-2013
    • RAJASTHANI SAMMELAN’S Ghanshyamdas Saraf College Affiliated to University of Mumbai ACCREDITED BY NAAC WITH ‘A’ GRADE & Durgadevi Saraf Junior College (ARTS & COMMERCE) S.V.Road, Malad (W) Mumbai: 400 064 CERTIFICATEI Prof. Sonal Bapna here by certify that Ms. Monalisa Bhavesh Patel a student ofGhanshyamdas Saraf College of M.COM(SEMESTER I) has completed Project on“HUMAN RESOURCE MANAGEMENT ON ADITYA BIRLA GROUP” in the Academicyear 2012-2013. This information submitted is true and Original to the best of myKnowledge.External Examiner: Principal:Date:Project Co-ordinator: College Seal:Date:
    • ACKNOWLEDGEMENT I take this opportunity to thank the UNIVERSITY OF MUMBAI forgiving me a chance to do this Project. I express my sincere gratitude to the Principal, course co-ordinatorMrs. DEEPTI SONI, Guide Prof. SONAL BAPNA and our librarian andother teachers for their constant support and helping for completing the project. I am also grateful to my friends for giving support in my project.Lastly, I would like to thank each and every person who helped me incompleting the project especially MY PARENTS.
    • DECLARATIONI Miss Monalisa Bhavesh Patel a student of Ghanshyamdas Saraf College ofArts and Commerce, Malad (W) M.COM (Semester I) hereby declare that Ihave completed project on “STRATEGIC MANAGEMENT ON ADITYABIRLA GROUP” in the academic Year 2012-2013. This informationsubmitted is true and original to best of my Knowledge.Date: Signature of Student
    • VISITING CERTIFICATE
    • IndexSr. No. Topic Page No.1 INTRODUCTION2 ADITYA BIRLA GROUP • VISION • MISSION • VALUES • GLOBALLY3 BEYOND BUSINESS4 PLANT PROFILE5 INDUSTRY PROFILE6 PEOPLE MANAGEMENT AT ULTRA TECH CEMENT7 REASEARCH METHODOLOGY8 EMPLOYEE RETENTION9 RESEARCH DESIGN10 ANALYSIS AND INTERPRETATION11 FINDING12 SUGGESTION13 BIBLOGRAPHY INTRODUCTION
    • The Aditya Birla Group is an Indian multinational conglomerate corporationheadquartered in Mumbai, Maharashtra, India.[4] It operates in 33 countries withmore than 133,000 employees worldwide. The group has diversified businessinterests and is dominant player in all the sectors in which it operates such asviscose staple fiber, metals, cement, viscose filament yarn, branded apparel,carbon black, chemicals, fertilizers, insulators, financial services, telecom, BPOand IT services.The Aditya Birla group is a US$ 40 billion conglomerate which gets 60 % ofits revenues from outside India. The Aditya Birla Group has been adjudged thebest employer in India and among the top 20 in Asia by the Hewitt-EconomicTimes and Wall Street Journal Study 2007. The origins of the group lie in theconglomerate once held by one of Indias foremost industrialistsMr. Ghanshyam Das Birla.Aditya Birla is organized into various subsidiaries that operate across differentsectors. Among these are viscose staple fiber, non-ferrous metals, cement,viscose filament yarn, branded apparel, carbon black, chemicals, Retail (underthe More brand supermarkets), fertilizers, chemicals, insulators, financialservices, telecom, BPO and IT services. The Group consists of five maincompanies, which operate in various industry sectors through subsidiaries, jointventures, etc. These are Hindalco, Grasim, Aditya Birla Nuvo, Ideacellular and UltraTech Cement. TH E AD IT YA B IR LA GR OU P
    • VISION: To be a premium global conglomerate with a clear focus on each business.MISSION: To deliver superior value to our customers, shareholders, employees andsociety at large.VALUES: ¬ Integrity ¬ Commitment ¬ Passion ¬ Seamlessness ¬ Speed ABG is a 24 billion dollars corporation; the Aditya Birla Group is anchored by anextraordinary force of 100,000 employees, belonging to 25 different nationalities. Thediversity of location, language and culture blends seamlessly into a common workethos, which hinges on fostering excellence, recognizing and rewardingentrepreneurship. ABG believes in empowerment, delegation and calculated risk taking. ABG’songoing endeavor is to create an organizational ambience where talent can bloom. Todo so, ABG strives to make the workplace a source of creativity, innovation and onethat makes work meaningful. ABG ensures that all the Group’s polices, forward – looking initiatives andgoals are fully communicated to all employees and that they understand and relate tothese. ABG’s commitment to their people is reflected in the sense of belonging andpride every employee feels towards the Group and the passion and commitment theybring to their work. The Aditya Birla Group is India’s first truly multinational corporation. Global
    • in vision, rooted in Indian values, the group is driven by a performance ethic peggedon value creation for its multiple stakeholders. Over 50 per cent of its revenues flowfrom its operations across the world. The Aditya Birla Group’s products and servicesoffer distinctive customer solutions worldwide. The Group has operations in 20countries - India, Thailand, Laos, Indonesia, Philippines, Egypt, China, Canada,Australia, USA, UK, Germany, Hungary, Brazil, Italy, France, Luxembourg,Switzerland, Malaysia and Korea. In India, the Group has been adjudged “The Best Employer in India andamong the top 20 in Asia” by the Hewitt-Economic Times and Wall Street JournalStudy 2007. This has been announced recently.G LOBAL LY T HE A DIT YA BI RL A G ROUP IS : A metals powerhouse, among the world’s most cost-efficient aluminum andcopper producers. Hindalco, (Plant: Howrah) from its fold, is a Fortune 500Company. It is also the largest aluminum rolling company and one of the 3 biggestproducers of primary aluminum in Asia, with the largest single location coppersmelter. No. 1 in viscose staple fiber The 3rd largest producer of insulators The 4th largest producer of carbon black The 11th largest cement producer globally and the 2nd largest in India With some more units which are under construction now, ABG will become the largest cement producer in India by 2013. Among the world’s top 15 BPO (Business Process Outsourcing) companies and among India’s top 3 Among the best energy efficient fertilizers plants.I N I NDI A :
    • A premier branded garments player – Grasim Suiting’s The 2nd largest player in viscose filament yarn The 2nd largest in the Chlor-alkali sector Among the top 5 mobile telephone companies A leading player in Life Insurance and Asset Management – Birla Sun Life.Rock solid in fundamentals, the Aditya Birla Group nurtures a culture where successdoes not come in the way of the need to keep learning afresh, to keep experimenting.BEYOND BUSI NESS: A value – based, caring corporate citizen, the Aditya Birla Group inherentlybelieves in the trusteeship concept of management. Part of the Group’s profits isploughed back into meaningful welfare – driven initiatives that make a qualitativedifference to the lives of marginalized people. These activities are carried out underthe aegis of the Aditya Birla Centre for Community Initiatives and RuralDevelopment, which is spearheaded by Mrs. Rajashree Birla. Working in 3700 villages. Reaching out to 7 million people annually through the Aditya Birla Centre for Community Initiatives and Rural Development, lead by Mrs. Rajashree Birla. Focus areas are: health care, education sus tainable livelihood, infrastructure and promoting social causes. Run 45 Schools and 18 Hospitals. Transcending the conventional barriers of business to send out a message that “We Care”. 12
    • P LAN T P RO FILE U LT R AT ECH C EM ENT LI MI T EDI NTRODUCTI ON: UltraTech Cement Limited was formed effective July 2004, with thedemerger of Cement Division from Larsen & Toubro Limited, and was taken over bythe Aditya Birla Group and got merged into Aditya Vikram .Birla Group ofIndustries. UltraTech Cement Limited is a technology driven company with leadingedge capabilities in fields related to infrastructure and basic industries. In termsof main stream criteria viz., sales, profit, assets and market capitalization,UltraTech Cement Limited ranks among top ten in Indias private sector. Thecompany is also ranked high by less tangible yardsticks such as intellectual capitaland brand-worth. UltraTech Cement Limited & its subsidiaries, has manufacturing facilities at10 locations in India and 3 Terminals including one at Srilanka. Almost all thefactories have secured ISO-9001, 14001, 18001 (OHSAS) and other certificates ofthe highest or de r . UltraTech C e m e n t Li mi t ed ’s distribution ands ervices o u t -reach underlines its strong customer orientation. The networkextends to virtually every district in the country. A concern for the environmentis an integral part of the companys vision. UltraTech Cement Limited iscommitted to growth in consonance with the ecology and the needs of thecommunities it serves. UltraTech Cement Limited is Indias largest cement producer, with a manufacturing capacity of over 17 million tons per year.UltraTech Cement Limited manufactures and markets. Ordinary Portland cement – 43 grades / 53 grades Portland Blast Furnace Slag Cement Portland Pozzolana Cement 1
    • 3
    • U L TRAT ECH CEMENT PL ANTS ARE L OCATED AT:1. Awarpur cement works. Awarpur, Maharashtra2. Hirmi cement works. Hirmi , Madhya Pradesh3. Gujarat cement works. Kovaya, Gujarat4. Andhra Pradesh cements works. Tadpatri, Andhra Pradesh U L TRAT ECH CEMENT GRI NDI NG UNI TS ARE L OCATED AT:1. Jarsuguda Orissa2. Arakkonam Tamilnadu3. Durgapur West Bengal U L TRAT ECH CEMENT LI MI TED S UBSI DI ARI ES: Cement Plants: Narmada Cement Company Limited Gujarat Grinding Units: Magdalla Gujarat Ratnagiri Maharashtra U L TRAT ECH CEMENT T ERMI NAL S ARE L OCATED AT:1. Navi Mumbai Mumbai2. Mangalore Terminal Karnataka3. UltraTech-Ceylinco Srilanka 1 4
    • P L ANT CAPACI TY: Even though the plant has started with an installed capacity of 6,000 TPD,later- on the capacity has been enhanced to 8,000 TPD. The cement plantsinstalled capacity is 2 million tons per annum (MTPA). APCW caters to thecement users in the southern part of India. It is ideally located as far as the market isconcerned.U NI QUE F EATURES OF AP CW: A peculiarity of UltraTech Cement Limiteds APCW is that its mines fall inKurnool district while the plant is in Anantapur District. ¬ only cement plant in UltraTech Cement Limited, with a split location of entire main plant on top of a hillock and the packing plant down the hill. ¬ One of the plants using minimum energy for cement manufacturing. ¬ only plant where the entire cement-loading rake of 40 wagons can be placed on one stretch constructed on engine on load concept. ¬ The RCC chimney at the plant is the tallest in the Indian cement Industry. ¬ It has two vertical raw mills (Atox 50) having a roller diameter of 5 M these are the biggest mills in the country. ¬ First unit to implement computerized billing for cement loading.
    • H UM AN R ES OU RC E SY ST E M IN U LT RA TEC H C EM E NT LIM ITE D: Human Resource policy is managed at corporate level and unit levels.Major policy and strategies in certain areas are formulated at Corporate HR.APCW formulates the local level strategies and policies in line with the CorporateHR. HR SET at UltraTech, APCW, implements both local level and corporatelevel HR polices and strategies. Unit Head, Operations Head, FunctionalHeads and Unit Personnel Manager are involved in formulating APCW polices andstrategies. The Corporate HR regularly conducts HR conclaves in order to bring aboutgreater cohesion of OD level HR polices, so as to align these systems withindividual units requirements and also keeping in view overall business goals.Unit’s head and HR heads attend these meets.MAN POWER: Based on requirement of individual departments, Head of that departmentis asked to give information to man power planning department regarding thenumber of persons required. The departmental heads assess their requirementsbased on theavailable departmental job description to ensure role clarity and to avoidrole ambiguity. The Central Personnel Dept. carries out the recruitment process. The total employees in APCW are 444 covering all departments as on26.06.2007, out of which 225 are in Officers and Supervisor Cadre, 44 areMonthly rated employees and 175 are Daily rated employees. There are nearly500 contract labors working every day on casual basis.
    • IN DU ST RY PR OFILEI ndi an CementIndustry: The Indian Cement Industry is a unique combination of very large to verysmall capacity and modern to very older technology plants. The share of installedcapacity of energy inefficient process plant had slowly decreased from 94% to 61%in1960 till 1980 and there after as a result of quantum jump n production capacitiesthrough modern dry process plants as well as conversion of wet process has beenreduced to just 5% today. India is the second largest cement producer in the world after China. Thepresent installed capacity of 119 million tones per annum is distributed over 113large size plant and over 300 mini cement plants. The cement production raised from a mere 22.54 million tones per annum in1982 to 95 million tones per annum by 2001, registered more than 200%growth.“Economy builds the nation and industry builds theEconomy” Of the many industries influencing the growth of the economy,cement industry has occupied a relevant position, which it deserves. Cementindustry in India is 8 decades old and yet it is in its youth as one can see the use ofthe cement anytime and anywhere in cities or towns in the form of buildings orindustries. Keeping in view the importance of cement in the current economy, itcan be said that no other industry exits in the absence of cement industry.
    • H i story O fCement: The search for men made bonding materials began with human endeavor tomimic the habits gifted by nature. Situations changed with growth inpopulation during Paleolithic Age men used to enjoy adequate shelter provided bynature. The Bronze Age also witnessed the age of building materials from claybased mixture. The Bronze Age also witnessed the use of air hardening lime. Thisobviously linked with the discovery of fire and chanced calcinations of limestone insome forest tracts. In the evolutionary process the Phoenicians perfected the practice of mortarpreparation with the burnt lime and volcanic ash. The use of lime and itspreparation was handed over from generation to generation to present times. Modern Portland Cement was invented by JOSEPH ASPDIA of LEEDS inthe year 1824 and this was patented as PORTLAND because of its hardening, thisused to look like stone from Isle of PortLand.In modern terminology cement can be defined as follows: “The word cement means BOND and material possessing binding.This cementing property is called as Cement.” Cement as used in the constructionindustry is a fine inorganic powder inherent, cohesive and adhesive properties. It ishydraulic material, which sets and hardens on addition of water and impartsstrength to the structure.E vol uti on of Cement i n Indi a: The attempt to produce Cement in India dates back to 1889 when aCalcutta based firm attempted to produce Agrillaceauskankar. The first organizedattempt tko produce Cement on a mass scale was attempted in 1904 by SouthIndian Industries Limited. The growth continued and in 1936 eleven companiesemerged to form Associated Cement Companies (ACC). The formation of concreteassociation in India in 1927, helped to popularize the use of indigenous cement.By 1947, India has 23 cement plants with a capacity of 2.2 million tones perannum to the ever increasing demand of cement.
    • P EOPL E MANAGEMENT AT U L TRAT ECH CEMENT LI MI TED: "Employee Delight is the key to Customer Delight" is the conviction ofUltraTech CementLimited. UltraTech Cement Limiteds residential management developmentcenter offers employees the opportunities for Knowledge enhancement and learningthrough self-study and introspection. The faculty is drawn from Indias premiermanagement institutes. UltraTech Cement Limited has also found a place foritself as the only "Asian member of benchmarking forum for AmericanSociety for Training & Development (ASTD). Self-learning facility comprisingof programs on CD-ROMS enables employees to work at their own place.RECRUI TMENT & S EL ECTI ON: Recruitment sources include, advertisements given in newspapers anddata banks, depending upon the manpower requirements as stated by departmentalheads, depending upon the number of applications received, the qualificationmay be generalized (in case of very few applications). Then, the persons withrequired qualification are interviewed. The interviewing panel comprises ofpersonnel officials in the department. If the applications are in large number theywill be short-listed according to the norms of the organization. The wage board employees are assessed on factors like: Technical Aptitude English and Critical Reasoning
    • All employees are kept under probation for a period of 6 months after joining and before their services are confirmed on rolls. The O&S cadre employees will be assessed on factors like: Management Aptitude Leadership Behavior The recruitment of Diploma Engineering Trainees (DET) and Graduate Engineering Trainees (GET) are done at Central Personnel Department once in a year through Campus Selections / advertisements in famous newspapers. The recruited candidates are kept under probation for a period of 2 years and then are absorbed to suitable c a d r e in the organization. During the probation period the absorbed candidates are sent to each department to get acquainted with the departmental activities and then they are sent to the other units of UltraTech Cement Limited for proper orientation in the respective fields.P ERF ORMANCE APPRAI SAL S YSTEM: UltraTech Cement Limited probably is the first organization in India to introduce an integrated HRD system in the year 1975 with the introduction of "Performance Appraisal Feedback & Counseling System". PA includes sub-systems like: ‫٭‬ Potential appraisal ‫٭‬ Training & Development ‫٭‬ Employee counseling and ‫٭‬ Career Planning and Development. In order to provide avenues of growth, among the Wage Board cadre, Merit Rating procedure is in place. The performance of the employee evaluated through a two – stage process by immediate superior and Facilitator/Champion of AET/SET. Further, in order to encourage more career opportunities to wage board employees, company has a detailed Non – Supervisor to Supervisor Scheme in place. The new initiatives in Performance Appraisal System in APCW are ‘Online Performance Appraisal’ linked with POORNATA module. It is implemented by Group’s Corporate Office at Mumbai. It was started in last year. This form of Performance Appraisal is mainly for Officers and Supervisors only.
    • INNOV ATI VE WOR KI NG M ET HODOL OGI ES :A. SURVEY – A FEEDBACK MECHANI SM: UltraTech, APCW believes that feedback is a major tool and an opportunityto improve the organizational effectiveness. The annual feedback fromsurveys conducted by B – School students helps us to get to know the employees’feelings and perceptions on various issues concerning the organization. Based onthe analysis, HR SET will submit a report to Unit Head for further review andnecessary actions, Issues, which require Corporate HR attention, will be given as ainput for reviewing policies and strategies.B. PARTI CI PATORY MECHANI SMS: UltraTech strongly supports participatory work culture. Employee participatory mechanisms such as SuggestionScheme, Seva Committee, AETs, are in place. These forums are an opportunity tothe employees to discuss and arrive at a decision resulting in efficiency,productivity, cost saving, safety cleanliness, orderliness etc. This aspect wasreflected positively in OCS – 04.C. CHANGE MANAGEMENT I NI TI ATI VES: In APCW Endeavor to achieve excellence and become world – classorganization, Project Parivarthan was launched. This initiative has facilitatedtotal employee involvement. Benchmarking, Six Sigma are the other initiativeslaunched with the objective of excelling further and to help the organizationproduce services better faster and cheaper. This initiative has facilitated totalemployee involvement.D. CROSS FUNCTI ONAL P ERSPECTI VE : UltraTech, APCW primarily focuses on imparting cross –functional knowledge on the basis of PBO. For e.g., A PACT leader is owner ofa particular PACT zone irrespective of core competency.
    • E . H ARMONI OUS WORK CUL TURE : One of the success stories of UltraTech APCW is the existence ofharmonious work culture. Though the plant is situated in a volatile region, yet, not asingle day is lost due to industrial disturbances. The unit has witnessedcontinuously low rate of absenteeism over the years. This was attained throughsustained intervention such as continuous training with wage board and contractworkmen.T RAI NI NG S ETUP: In line with the organization vision of continuous and vibrant learning,UltraTech Cement Limited has in the right earnest has adopted theorganizational virtues of continuous learning through a set of initiatives. UltraTechfirmly believes that learned employees are an invaluable asset to the organization.E MPL OYMENT AVENUE: The employment potential of the company is about 3000 (both direct andindirect). There were about 300 quarters in the township for employees andthe population was about 2000 including employees, contractors and others.
    • IR S CENARI O: One of the success stories of APCW is the existence of harmonious workculture and a sense of camaraderie, though the plant is situated in apolitically vulnerable region, not a single day is lost due to industrial relationproblem. Pro – active approach, participatory culture, continuous interaction byHR personnel, handling grievances promptly, sound disciplinary management coupled with continuous dose of behavioral programmers were some of the IRinitiatives. The result is that the company totally functions in a non – unionizedenvironment.CORPORATE S OCI AL RESPONSI BI L I TY: The company is rendering significant social services to thesurrounding villages of the factory limits. After the company is established thereis tremendous progress in the surrounding villages economically and socially.The company isrendering various welfare measures and community development activities inthe surrounding villages of the factory under various government scheme
    • RE S EA RC H M ET HO DO LO GYT IT LE “A STUDY ON EMPLOYEE RETENTION “I N T RO DU CT I O N This methodology includes need of the study, objectives of the study,research design, collection of data and the limitations of the study.O BJE CT I VE S O F TH E ST U DY The objectives of the study are ϖ To study the present retention strategies adopted by the company. ϖ To assess the satisfaction level of employee with existing retention strategies.S T ATE ME N T O F T HE P RO BLE M Employees are the most important and valuable asset of anorganization. Employees are the foundation of an organization. Retaining them isan important as hiring them in the first place. Hence it is necessary to know thestrategies used to retain the employees in the organization.N E E D FO R T H E ST U DY The present study is focus on the existing retention strategies in ultratechcement Ltd and findout the satisfaction level of an employere regarding thestrategies. 25
    • FA CT OR S T HA T A FFE C TS RE T EN T IO N : ϖ Shifting markets ϖ Demands for specific skills ϖ Business conditions ϖ Demographics ϖ Lifestyle changes ϖ Technology issues ϖ Trends in work life decision as employees needs changeW HA T MA KE S E M P LO YE E LE AV E S? Employees do not leave an organization without any significant reason. There arecertain circumstances that lead to their leaving the organization. The most commonreasons can be: Job is not what the employee expected to be: Sometimes the job responsibilitiesdon’t come out to be same as expected by the candidates. Unexpectedjob responsibilities lead to job dissatisfaction. No growth opportunities: No or less learning and growth opportunities in thecurrent job will make candidate’s job and career stagnant. Lack of appreciation: If the work is not appreciated by the supervisor, theemployee feels de-motivated and loses interest in job. Lack of trust and support in coworkers, seniors and management: Trust is themost important factor that is required for an individual to stay in the job Non-supportive coworkers, seniors and management can make office environmentunfriendly and difficult to work in. Stress from overwork and work life imbalances: Job stress can lead to work lifeimbalances which ultimately many times lead to employee leaving the organization. Compensation: Better compensation packages being offered by other companiesmay attract employees towards themselves. New job offer: As attractive job offer which an employee thinks is good for himwith respect to job responsibility, compensation, growth and learning etc., can lead anemployee to leave the organization. 26
    • IM P OR TA NC E O F EM P LOY E E RE T EN T IO N Now that so much is being done by organizations to retain its employeeswhy is retention so important? Is it just to reduce the turnover costs? Well, theanswer is a definite no. it’s not only the cost incurred by a company that emphasizesthe need of retaining employees but also the need to retain talented employees fromgetting poached.The process of retention will benefit an organization in the followingways: 1. T he Cost of turnover : The cost of employee turnover adds hundreds of thousands of money to a company’s expenses. While it is difficult to fully calculate the cost of turnover , industry experts often quote 25% of the average employee salary as a conservative estimate. 2. Loss of Company K nowl edge: When an employee leaves, he takes with him valuable knowledge about the company, customers, current projects and past history. Often much time and money has been spent on the employee is expectation of a future return. 3. I nterrupti on of Customer Service: Customers and clients do business with a company in part because of the people. Relationships are developed that encourage continued sponsorship of the business. When an employee leaves, the relationships that employee built for the company are severed, which could lead to potential customer loss. 4. T urnover l eads to more turnovers : When an employee terminates, the effect is felt throughout the organizations. Co- workers are often required to pick up the slack. The unspoken negativity often intensifies for the remaining staff. 5. G oodwi l l of the Company : The goodwill of a company is maintained when the attrition rates are low. Higher retention rates motivate potential employees to join the organization. 6. Regai ni ng ef f i ci ency: If an employee resigns, then good amount of time is lost in hiring a new employee and then training him/her and this goes to the loss of the company directly which many a times goes unnoticed and even after this you cannot assure us of the same efficiency from the new employee. 27
    • 28
    • H OW TO INC RE A S E EM P LOY E E RE T EN T ION? Companies have now realized the importance of retaining their qualityworkforce. Retaining quality performance contributes to productivity of theorganization and increase morale among employees. Four basic factors that play an important role in increasing employeeretention include salary and remuneration, providing recognition, benefits andopportunities for individual growth. But are they really positively contributing to theretention rates of a company? Basic salary, these days, hardly reduces turnover.Today, employees look beyond the money factor. 29
    • R ES EA R CH D ES IGN Descriptive research procedure is used for describing the resent situationsin the organization and analytical research to analyze the results by using researchtools.Descri pti ve Research: This research includes surveys and facts finding enquires of different kinds.The major purpose of descriptive research is that the research can only describethe state of affairs existing at present in the organization. The main feature of thismethod is that the researcher has no control over the extraneous variablescalled the respondents as they are going to interview the employees of theorganization in order to perform study.They can only report what happened or whatis happening. In social science and business research, we quiet often use the terms“ex-post facto research” for descriptive research studies, the researcher candiscover and describe the causes for various situations but they cannot control thesituations.R ES EA R CH TO OLS ϖ Data Source : Primary & Secondary Data ϖ Research Approach : Survey method ϖ Research Instrument: Questionnaire ϖ Sampling scheme : Simple random sampling ϖ Contact method : Personal / Direct ϖ Sample size : 114 30
    • DA TA S OU RC ES AN D C OLLEC T ION M E TH OD SThere are tow type for collecting data 1. Primary data 2. Secondary dataP RI MARY DAT A Primary data are those which are colleted a fresh and for the first time & thus happen to be original in character.Primary data is obtained by the study specially designed to fulfill the data needs to problem hand. Such data are original in characters generated by the way of conducting survey.S E CO N DARY DAT A Secondary data are those which have already been collected by someoneelse and which have already been passed through the statistical process.TheSecondary data consist of reality available compendices already complied statisticalstatements. Secondary data consists of not only published records and reports but alsounpublished records. 31