Retention Process of a Hypothetical Company

1. JOYERIA -
A piece of art…
Presented By:
 Sakshi Beniwal – 01
 Bushra Jamadar – 07
 Yubeena Khan – 11
 Radhika Pendharkar - 16

2. Contents
 Introduction
 Vision & Mission
 Potential Customers & Competitors
 Organisation structure
 Employee Strength
 Retention rate
 Retention policies
 Retention graph for comparison

3. About Us
 Joyeria- Spanish name for jewellery
 Established in the year 2012
 Headquarters in Surat
 Currently, India’s upcoming jewellery company
 Three varieties of jewellery produced:
i. Clay Jewellery
ii. Beads Jewellery
iii. Gemstones Jewellery

4. Clay Jewellery

5. Beads Jewellery

6. Gemstone Jewellery

7. Video
https://www.youtube.com/watch?v=W
PsnXoc9j14

8. About Us
 Imports Gems from Jaipur & Hyderabad
 Launched Online Shopping Website in 2013 which provides delivery
all over India
 Our Website : www.Joyeria.com

9. Vision & Mission
Vision
Our vision is to become the world’s most loved jewellery brand
Mission
Our mission is to celebrate women by offering them the opportunity for
personal expression through our universe of high-quality and
contemporary jewellery at affordable prices

10. Primary Competitors
 Bello Jewels Pvt Ltd(Gurgaon)
 Sparkles Gems & Jewellers Pvt Ltd (Jaipur)
 Nazar Gems (Jaipur)
 Gem Plaza Jewellery Mfg. Co Pvt Ltd. Jaipur

11. Organisation Structure
General
manager
Purchase
Team
Sr. Purchase
Manager
Purchase
manager
Purchase
Executive
Purchase
Executive
Trainee
Production
Team
Sr. Production
Manager
Production
Manager
Production
Executive
Staff
Packaging
Team
Packaging
Head
Packaging
Trainee
Sales Team
Sr. Sales
Manager
Sales
Manager
Sales
Executives
HR Team
Sr. HR
Manager
HR Manager
HR Executive
Finance Team
Sr. Finance
Manager
Finance
Manager
Finance
Executive

12. Employees Strength
Total number of employees in the company – 2350
Department wise distribution-
Purchase Department- 195
Production Department-760
Packing Department-250
Sales Department-645
HR Department- 75
Finance Department- 425

13. Retention & Turnover Rate
In Year 2015
No. of employees in the beginning 2200
No. of employees who left the company 250
No. of new people hired 400
Retention Rate 88.63%
Turnover Rate 11.36%
Voluntary turnover rate (137people) 54.8%

14. Turnover Rate Per Department
0
5
10
15
20
25
30
35
40
Purchase
Department
Production
department
Sales
Department
HR
Department
Finance
Department
Turnoverin%
Departments

15. Reasons For Turnover
40%
8%4%
3%
19%
14%
% of turnover
No further growth
Health Issues
Dissatisfaction with
management
Changed Industry
Contract Ended
Relocation

16. Average Tenure of Employees
Who Left
45 employees worked for 9 months(45*9) 405
110 employees worked for 11 months(110*11) 1210
40 employees worked for 6 months(40*6) 240
35 employees worked for 8 months(35*8) 280
20 employees worked for 4 months(20*4) 80
Total no of months 250 employees worked 2215
Average Tenure 9 Months

17. Retention Rate Over The Years
0
10
20
30
40
50
60
70
80
90
100
2013 2014 2015
Targets
Results
Years
Retentionin%overyears

18. Retention Factors
• Main factors that has contributed in improving the retention rate of
the last years are:
Compensations,
Incentive & Rewards-
45%
Salary & Respectful
treatment-
22%
Job Security-
18%
Communication and
relationship among
employees-
15%
FACTORS

19. Retention Policies Of Joyeria
 Conducting of “Exit” as well as “Stay” interviews
 Employee advancement policy
 Adhocracy approach
 A fix increment of 10% in the salary every year for every employee &
15% increment to those employees who remained star performer
for whole of the year

20. Reward Policies
 Rewarding the Employees a jewellery box with a jewellery of their
own choice on their Birthday, who have completed 3 years in Joyeria
 Renting jewellery of up to Rs.15,000 to the employees once a year
for any special occasion
 Offering a discount of 10% on purchase of any jewellery over
& above Rs.20,000 by employees & their dependents

21. Keys To Retention
The keys to retention simply put are based on a name we called SAM:
 Satisfaction - There are a number of elements to satisfaction which
include salary, health plan and check-ups, work environment, and
more
 Appreciation - Being recognized and appreciated for the work, both
publicly and privately
 Motivation - Once an employee is satisfied and appreciated, that
employee can be motivated. Ways to motivate include bonuses,
promotions, conferences and training and more

22. Retention Policies by
Competitors
Sparkles Gems & Jewellers Pvt Ltd :
 Employee Performance is the only criteria for salary increment
 Dependents are given a discount of only 5% twice a year on the
purchase of Rs.10,000
 A proper hierarchy is followed for communication i.e. it works as a
mechanistic structure.
 Work is given more importance then people.

23. Retention Rate Comparison
0
10
20
30
40
50
60
70
80
90
100
2013 2014 2015
Joyeria
Sparkles Gems &
Jewellers
RetentionRate
%
Years

24. Evaluation
 Retention Policies of Joyeria are
much better than Sparkles Gems &
Jewellers Pvt Ltd and has helped
retaining employees
Retention graph shows increment
over the years because employees
have liked the environment of the
company and helped in the growth
of the company

25. CSR Activities
 Every year we gift jewellery to different NGO’S for young
girls and their women staff on Women’s day

26. THANK YOU
Are you buying the desired jewellery for yourself..?