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1. A
Summer Internship Project Report
On
“A STUDY ON EMPLOYEES RETENTION AT BALAJI FORMULATIONS PVT.
LTD”
Submitted to:
For the Partial Fulfillment of the Requirement for the Award of Master of Business
Administration Programme MBA, Semester III, (Class of 2021)
Under the Guidance & Supervision
Of
Prof. Dr. Rajani Chandrashekar
Faculty Guide
AGBS Hyderabad
Summer Internship Project
Submitted by:
Student Name: Vangala Akshit
Enrollment No: A30601920050
AMITY GLOBAL BUSINESS SCHOOL
HYDERABAD

2. DECLARATION
Topic: “A Study on Employees Retention at Balaji Formulations Pvt. Ltd”
I declare that the work presented for assessment in this summer internship Report is my own,
that it has not previously been presented for another assessment and that my debts (for words,
data, arguments, and ideas) have been appropriately acknowledged. That the work conforms to
the guidelines for presentation and style set out in the relevant documentation.
The Plagiarism in the report is % (permissible limit is 15 %)
Vangala Akshit
Signature
05 July 2021
Hyderabad

3. ACKNOWLEDGEMENT
My heartfelt sincere Thanks to Dr P Prasada Rao, Director General, Amity Global Business
School Hyderabad for giving me this opportunity for doing my project in “Balaji
Formulations Pvt. Ltd.”
Mr. V. Rohit Goud has been very supportive and helped me to learn and complete the project.
My sincere thanks to my Industry Guide and Company Balaji formulation Pvt. Ltd.
My sincere & grateful thanks to my Faculty Guide Prof. Dr. Rajani Chandrashekar for
guiding me throughout my Project. My sincere thanks to my Family members who stood by
me motivating me to complete my project successfully.

4. FACULTY GUIDE CERTIFICATE
This is to certify that Mr. Vangala Akshit student of semester II class of MBA 2020-2021 has
completed the Summer Internship Project Titled “A Study on Employees Retention Balaji
Formulations Pvt. Ltd.” is a bonafide work and has worked under my guidance sincerely for
the partial fulfilment of Master of Business Administration for the year 2020 – 2022 to the best
of my knowledge and wish her success for the future endeavors.
Prof. Dr. Rajani Chandrashekar
05 July 2021
Place: Hyderabad

6. CHAPTER 1
INTRODUCTION:
Employee retention is a process in which the employees are encouraged to remain with the
organization for the maximum period of time or until the completion of the project. Employee
retention is beneficial for the organization as well as the employee. 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. A good employer should know how to attract and retain its
employees.
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.
Employees comprise the most vital assets of the company. In a work place where employees
are not able to use their full potential and not heard and valued, they are likely to leave because
of stress and frustration. In a transparent environment while employees get a sense of
achievement and belongingness from a healthy work environment, the company is benefited
with a stronger, reliable work-force harboring bright new ideas for its growth Blog Online And
Earn Money.
In an ideal world, employees work hard, love their job, worship their workplace, feel like a
family and would never leave. But let’s look at the real world, where employee quite at the
drop of a hat. How can attrition be controlled?

7. As the Indian pharmaceutical industry grows exponentially, companies are taking the big leap
from survival strategy to competitive strategy. Hence, there is a constant thirst for the best and
the brightest of employees and the result-heavy attrition.
The main cause for the movement is lack of motivation, increased expectation, and increased
opportunity. Attrition also happens when people hate their working conditions, do not like their
team-mates or perhaps do not like what they are doing. Organizational culture has a great
impact on who stays and who goes. Also important of providing opportunities for development
of their employees or their career growth is an important factor in employee attrition. Job misfit
is also in the list of the factors.
Experts say that organization behavior is instrumental in extending the tenure of employees in
the organization as it increases their self-esteem, confidence, morale and motivation. A
substantial growth of employee’s self-esteem is as important as the concept of learning in the
industry. Otherwise, expert fear that pharmaceutical organizations will met a sorry fate as far
as retention policies are concerned.
As the attrition rate is high in the industry so in this study I tried to find out various factors and
reasons effecting the employees retention in Balaji Formulations Pvt Ltd..

8. Company profile
ABOUT US
Balaji Formulations Pvt Ltd discerns the comprehensive experience, extensive production and
an uncompromising commitment of quality. Established in 1998 the company has modest
beginning as purification of solvents and drug intermediates.
The quality consciousness, stead fast research and development, state of the art technology,
senior technical expertise, ever updating technocracy, state of the art technology and ever
updating technocracy are the petals of its blossoming operations aiming to make a mark in the
Formulations market in India.
Management Team
Mr.V. Vasudev Goud, Managing Director with three decades of experience in Chemical
industry with extensive knowledge of the industry. He is forefront in the company in steering
it towards for combining its strength of R&D and manufacturing with definite advantages and
strong emphasis on the quality of the products. His comprehensively devising winning plans,
proactively identifying and resolving problems, controlling costs, maximising productivity
have engendered company time-to-time sail towards to profitable mark.
Mr.V.Venkateshwaralu, Director who is a serial entrepreneur with vast industrial experience
in infrastructure, Retail and Chemical industry .He is actively involved with the organization
right from the inception. He plays a pivotal role in general administration and HR activities by
amicable approach to employees and workers adapting motivation and triggering team spirit.
Since inception, he has led the company with remarkable success by putting the right scientific
talent, leadership process and infrastructure in place to ensure continuous growth.
Vision
Balaji Formulations aim to attain and achieve a mark of its products in both national and
international markets by remitting service,adapting to change, risk taking in well planned way
and strong values of work culture and business ethics.
Mission
We at Balaji Formulations with an infinite energy, courage and zeal commit ourselves for a
continued contribution in achieving the goal of living to the mobility of profession and winning
the hearts of customers through unremitting service across globe.

9. The company is working out strategic initiatives transforming the firm to meet the changes in
business environment for the next five years. All the employees are educated and trained in to
gear up to transform themselves in achieving our vision and mission. The growth plan for the
next five years in terms of sales to be achieved, products portfolio enhancement, profits to be
achieved and all personnel transform to meet the market challenges.
The clear determined values which are the foundation of the success. We communicate our
expectations by our words and actions.
The focus areas are
Modernization of plant and machinery
Innovation of new manufacturing process for reduction of costs,
Plan to reduce the over head costs
Employing skilled technical staff
Expansion of marketing network
PRODUCT LIST:
1. Methanol:-
Methanol is a methyl alcohol (MeOH) is produced naturally in the anaerobic metabolism.
Methanol occupies a key question in the chemical industry, mainly used to make wood
adhesives and plastics. Also used as an antifreeze, solvent, fuel and because of its toxic
properties it used as a denaturant for ethanol. About 20% of production goes in to making of
dyes and Perspex and 15% into solvents for paints and dyes. It is also used for polyester fibres,
methyl cellulose and silicone compounds and can be used to antiknock petrol additive M.T.B.E.
Methanol is essential in our lives every day. Methanol has enabled human being to function
during his day-to-day normal tasks. Methanol in the form of silicone goes into shampoo and
the PET bottle. Methanol can also be found in many of the components of the car and possibly
in the fuel used in your car. It is also present in the fleece jacket. The fact is, we are surrounded
by products that contain Methanol, even though we might not have even known it! Methanol
helps support our everyday lifestyles and has done so for many years…enriching the quality of
the goods and services we have grown to expect.

10. 2. Acetone:-
Acetone (C3H6O)is a colourless, mobile flammable liquid is a typically a solvent for cleaning
purposes in the laboratory, an active ingredient in nail polish remover and a paint thinner. It
also goes into many solvent applications with pharmaceuticals the largest sector and is used to
make a number of chemical intermediates. The solvents sector is also a significant outlet for
acetone. Pharmaceuticals is the largest acetone solvent consumer with significant quantities
also being used in glass reinforced plastics, cigarette tow, rubber chemicals and household,
cosmetic and personal care products. Other smaller uses include electronics, surface coatings,
printing inks and hot stamp foils. It is also used as a carrier for acetylene in cylinders.
3. Tetra hydro furan:-
Tetra hydro furan (C4H8O) is colourless liquid water miscible organic liquid, used in as
general-purpose solvent in pharmaceutical industries and in photographic films. It is a HPLC
and spectrophotometer grade solvents. Tetrahydrofuran has many uses in the industrial
marketplace. It is a versatile industrial solvent for natural and synthetic resins and is a solvent
used in the production of nylon. It is also an industrial solvent for PVC.
4. Dichloromethane:-
Dichloromethane molecular formula is CH2CI2 is used as in manufacturer of in polymer
industry in manufacture polycarbonate & phenolic resins, in textile industry for manufacture
of rayon yarns, food industry in manufacture as extra tent for edible fats, cocoa, butter and
essences. In aviation industry as a aerosol propellant and refrigerant, in process and
manufacturing industry used as general purpose solvent in chemical industries including
pharma, agro and fragrances and Other usesages as an adhesive for polymethyl methacrylate.
5. Iso Prophyl Alcohol:-
Iso Prophyl Alcohol (C3H8O) in Pharmaceutical industry used as a general purpose solvent
and in Process manufacturing industry its used for manufacture of acetone, glycerol, isopropyl

11. acetate and as a raw material for isopropyl esters. Also used in brewing in denaturing ethyl
alcohol and cosmetics as a body rubs, after-shave & hand lotion.
6. Toluene:-
Toluene is a clear water-insoluble solvent with a molecular formula of C7H8. It has an
aromatic, benzene-like smell and is a highly volatile flammable liquid with a flash point of 4°
C. It is obtained from petroleum and coal tar and is predominantly used as a solvent in the
manufacturing of other organic chemicals. The main chemical use of toluene is to make
benzene, xylenes and other solvents. It can also be used to manufacture other chemicals such
as phenol, nitrobenzene, benzoic acid and benzyl chloride. As a solvent, toluene can be used
in paints, paint thinners, adhesives, inks, resins, cleaning agents, leather tanners and inks The
user end markets of this product are the chemical, paints, adhesive, cleaning, leather, plastics,
cosmetic and pharmaceutical industries.
7. Aceto Nitrile:-
Acetonitrile is used in battery applications, a popular solvent in cyclic voltammeter and liquid
chromatography. Industrially it is used as a solvent for the manufacture of Vitamin- B,
pharmaceuticals, pesticides, fragrances, photographic film. Acetonitrile is used mining
industry for the extraction and refining of copper and oil industry for extraction of fatty acids
from tallow and veg oils.
8. Ethyl Acetate:-
Ethyl acetate (C4H8O2) is a colourless liquid with a fruity odour; it is soluble in most organic
solvents, such as alcohol, acetone, ether and chloroform. It finds wide application as a solvent
across many industries; however, ethyl acetate is only slightly soluble in water. Ethyl acetate
is used in industries that cater to end consumers, for example, paints, perfumes, and food
industry. Ethyl acetate is an active solvent, and is mainly used in industrial lacquers and
enamels. Thus, the paint and printing industry is one of the major consumers of ethyl acetate.
It is also used in the manufacture of perfumes, artificial fruit essences, aroma enhancers, and
artificial flavours for confectionary, creams, and cakes. In addition, ethyl acetate finds use in

12. flexible packaging due to its evaporation properties, and its use in the extraction of camphor,
oil, fats, and antibiotics.
9. Isopropyl Acetate:-
Isopropyl Acetate (C5H10O2) is an organic compound a product of condensation of acetic acid
and isopropanol, a clear colourless liquid with a characteristic fruity odour. Isopropyl acetate
is a fast evaporation solvent. Over three fourths of it is used in gravure printing inks for plastic
films, in coating, perfumes and adhesives.
10. Trityl Chloride:-
Triphenylmethl chloride or trityl chloride is a chlorinated hydrocarbon with a molecular
formula of C2HCl3. It is colourless liquid with a sweet smell that is widely used as a vapour
degreaser for metal parts. This product is a non-flammable liquid, having no measurable
flashpoint or flammable limits in air. It is miscible with most organic solvents but only slightly
miscible in water.The major use of trichloroethylene is as an industrial solvent for the vapour
de-greasing and cold cleaning of metal parts. Trichloroethylene is also used as an extraction
solvent for greases, oils, fats, waxes, and tars, a chemical intermediate in the production of
other chemicals (e.g. insecticides and fungicides) and as a refrigerant. It is also used in
consumer products such as paint stripper, adhesive, cleansing fluids and correction fluids.
DISTILLATION OF SOLVENTS:-
Methanol
Acetone
THF
MDC
IPA
Toluene
Aceto Nitrile
Ethyl Acetate ; Iso Propyl Acetate ;Hexene

13. Objectives of the Study:-
 To study various HR practices and present condition in Balaji Formulations Pvt.
Ltd.
 To study factors responsible for employee attrition in Balaji Formulations Pvt. Ltd.
 To study the effectiveness of the retention practices adopted by Balaji Formulations
Pvt. Ltd.

14. SIGNIFICANCE OF THE STUDY:-
This study explores all aspects of the workplace stability issue with a focus on retaining
employees. Employee retention is most critical issue faced by corporate leaders as a result of
the shortage of skilled labor, economic growth and employee turnover.
As the Indian pharmaceutical industry grows exponentially, companies are taking the big leap
from survival strategy to competitive strategy. Hence, there is a constant thirst for the best and
the brightest of employee and the result –heavy attrition.
After IT and BPO, it is now the Pharma sector that is facing the issue of high attrition rates.
For most HR managers, employee retention is the biggest challenge. “Attrition is quit in the
industry these days. This year, we have witnessed almost 32 percent plus attrition. This study
is significant in explaining all the reasons and the possible solution for the retention.

15. THEROTICAL FRAMWORKS
Importance of employee retention
Now that so much is being done by organizations to retain its employees, 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 employees but also the
need to retain talented employees from getting poached.
The process of employee retention will benefit an organization in the following ways:
1. The 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 (including hiring costs, training costs
and productivity loss), industry experts often quote 25% of the average employee salary as a
conservative estimate.
2. Loss of Company Knowledge:
When an employee 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 employee in expectation of a future return. When the employee
leaves, the investment is not realized.
3. 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 employee leaves,
the relationships that employee built for the company are severed, which could lead to potential
customer loss.
4. Turnover leads to more turnovers:
When an employee 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.

16. 5. Goodwill 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. Regaining efficiency:
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.
Employee Retention Tools
In the present scenario, world is turning into a global village and the whole globe is reachable
from any destination. In this small world even companies are reachable to the people and vice
versa. And so their jobs are also easily accessible for everyone. In this situation, the biggest
challenge for a company is to retain its workforce intact especially the Knowledge Banks.
All the companies are planning to increase their turnover every moment of time. While in all
this workout of increasing the turnover they forget about their loss incurred by the resignation
of employees and the expenses of hiring new employees (Hiring Cost, Training Cost,
Productivity Loss etc.). This hiring of a new employee normally costs around 35% or more of
the average employee salary. For example- let us consider average salary of an employee per
year as Rs.20, 000, and then the cost of hiring a new employee and other expenses come around
Rs.7, 000. If you have 2 employees resigning per month the cost comes to Rs.14, 000 and
taking the same for 12 months comes to around Rs.168, 000, which is a direct loss from the
turnover of the company. And after all this there is always a risk of getting a right employee
for the right position with a right attitude.
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 (He might be better and might not be). You require time to judge his capabilities and
work nature. The loss is even graver if he/she is Your Knowledge Bank, this can bring your
process to a standstill even. And above all these things, one resignation many a times triggers
a chain reaction among other employees, leading to a negative effect.

17. For all these and many other reasons you need to retain your employees. For retaining your
employees, you need to understand the requirements of the employees and at the same time
should make them clear about the expectations of the company from them. It’s a general human
tendency that each human being thinks himself as important and expects the same from the
other side, so the company management should make their employees accountable for their
respective jobs and make them feel that they are very important for the smooth processing of
that process(At the same time create a backup for him). Care and importance are two things of
which every human being is mad of.
Below are few of the tools for Employee Retention:-
1. Employee Reward Program- You can make a provision of Monthly or Quarterly
Award (depending upon the budget) for the best employee, Awarding 2 or 3 best workers each
month. The award can be in terms of gifts or money.
If it is money then it should be divided into two parts, first part to be given with the next month
salary and the remaining after 6 months. In this way he/she can be retained for 6 more months.
These rewards shall be considered at the time of appraisal.
2. Career Development Program- Every individual is worried about his/her career. You can
provide them conditional assistance for certain courses which are beneficial from your business
point of view. Conditional assistance means the company will bear the expenses only if he/she
gets an aggregate of certain percentage of marks. And entrance to that course should be on the
basis of a Test and the number of seats to be limited. For getting admitted to such program,
You can propose them to sign a bond with the company, like they cannot leave the company
for 2 years or something after the successful completion of the course.
3. Performance based Bonus- The employee always comes to know about the profit of the
company which is of course based on the strategic planning of the top management and the
productivity of the employee. To get more work out of the employee, You can make a provision
of Bonus. By this employee will be able to relate himself with the company’s profit and hence
will work hard. This bonus should be productivity based.
4. Employee Referral Plan- You can introduce Employee Referral Plan. This will reduce your
cost (charges of external consultants and searching agencies) of hiring a new employee and up
to an extent you can rely on this new resource. On every successful referral, employee can be
given a referral bonus after 6 or 9 months of continuous working of the new employee as well

18. as the existing employee. By this you can get a new employee at a reduced cost as well as are
retaining the existing one for a longer period of time.
5. Loyalty Bonus- You can introduce a Loyalty Bonus Program in which you can reward your
employee after a successful completion of a specified period of time. This can be in the form
of Money or Position. This will encourage the fellow employees as well whether they are
interested in money or position, they will feel fascinated.
6. Giving a voice to the Knowledge Banks- First of all you should try to retain your workforce
intact, as they are the intellectual asset of the company. And above that you can’t afford losing
your knowledge banks. These are the people who stabilize the process. You can involve them
in some of the decisions.
7. Employee Recreation- You should also let your employees enjoy in a light mood. You can
take your employees to a trip or for an outing every year or bi-yearly. You can make use of this
trip as well. You can start this trip with an opening note about the management views and plans,
strategies etc. At the same time you can involve your top management into some of the fun
activities as this will make feel the employees that they are very close to the management and
everybody is same.
8. Gifts at some Occasions- You can give some gifts at the time of one or two festivals to the
employees making them feel good and understand that the management is concerned about
them.
9. Accountability- You should make each employee accountable so that he can also feel that
he is as important as his manager. If he/she will be filled with this sense, he/she will seldom
think of leaving the company.
10. Making the managers effective and easilyaccessible- You should make the management
easily accessible so that the employee expectations can be clearly communicated to the top
management, as it is impossible for the top management to reach each employee frequently.
11. Surveys- You should conduct regular surveys for feedbacks from employee about their
superiors as well as other issues like food, development plans and other suggestions. This will
make them feel of their importance and the caring nature of the company. Some of the
suggestions might be of real good use for the company.

19. For a company, the workforce is like an intellectual property, both in terms of skills and money.
A trained and content workforce can lead a company to new heights while a opposite one can
hamper it badly. So, every resignation saved is every dollar earned.

20. Definitions:-
Organizations that are focused on retaining employees usually start with the employee hiring
and onboarding process by giving new workers adequate training and orientation in the culture
of the organization. They also give new employees an opportunity to ask questions and engage
in dialogue with supervisors about their work.
Some organizations use systematic recognition and rewards strategies to show they value
employees. Some employers rely on employee engagement software that
uses gamification and other techniques to recognize workers and provide rewards and perks
such as retail discounts. Employers also focus on competitive pay using
employee compensation management software that compares pay rates against benchmarks for
given regions, job titles and performance ratings.
Employers seek to distinguish themselves in the hiring arena by offering slates of varied
benefits offerings, both voluntary benefits, or employee-paid, and those paid for or subsidized
by the organization. Newer types of benefits include lower premium high-deductible health
insurance plans, pet insurance, education debt repayment programs and legal counseling.
To foster work-life balance, organizations offer flexible work schedules, time off
and telecommuting, and they train managers to encourage employees to take vacations.
Employers increasingly provide office amenities such as ergonomic and standing desks,
subsidized meals, free refreshments and relaxation hubs offering games such as ping-pong and
pool.

21. Summary:-
Employee retention is a process in which the employees are encouraged to remain with the
organization for the maximum period of time or until the completion of the project. Employee
retention is beneficial for the organization as well as the employee.
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. A good employer should know how to attract
and retain its employees.
Retention involves five major things:
 Compensation
 Environment
 Growth
 Relationship
 Support
Employee retention would require a lot of efforts, energy, and resources but the results are
worth it.

22. CHAPTER 2
REVIEW OF LITERATURE
The literature clearly indicated that there are six keys to retaining personnel. They are
recruiting, communications, training, job satisfaction, pay, and benefits.
Recruiting
A study by representing the organization realistically, a department will attract those who
will be content working within the culture (Marx, 2015).
Denton (2015, p.47) follows this up by stating that, “ the better the match between recruits
and the organization the more likely you are to retain them.”
Lynn (2016) believes that you must take time during the hiring process to make wise
decisions. The employer must be candid about the working conditions, responsibilities,
opportunities and other details to reduce the chances of making hiring mistakes.
Taylor and Cosenza (2016) strengthen this thought by noting that it is imperative that
companies give prospective employees a true picture of the organization, if they hopeto
match the personality type with the climate and culture of the organization.
The literature was clear in pointing out that if departments want to increase retention they
muststart with a solid recruiting process.
Communications
Carney (2017) believes that the key to employee retention is quite simple: communicate,
communicate, communicate. Communication with the employees must begin early on in the
relationship. He believes that the imprinting period of a new employee is probably less than
two weeks. Employers must engage the employee early on by sharing how important the job
they do is.
Lynn (2016) follows this up by stating that early on an atmosphere of fairness and openness
must be created by clearly laying out company policies.
Taylor and Consenza (2016) indicate that it is important to communicate the values of the
organization to its employees in order to increase their level of consent, participation.

23. Lack of communication may result in gaps between management’s perceptions of quality
employment and the employees desired and perceived quality of employment (Taylor &
Consenza, 2016).
There must be a common purpose and trust among employees. People want to feel as if they
are a vital piece of something larger (Carney, 2017).
As Denton (2015) points out, managers must make sure employees know what they should
do and why it is important.
Lynn (2016) notes that communications must be a two way street to be effective. Employers
must listen to what employees have to say. An atmosphere must be created in which
employees feel comfortable making suggestions and trying our new ideas.The literature
revealed that communication must begin early in the employer/employee relationship.
Organizational values and culture must be made clear to all employees and their importance
within the organization must be continually emphasized.
Training
As was noted earlier it is important that the employee feel like a valued member of the
organization. Training helps underscore this message. Training personnel is a way to show
you respect them and want them to grow. The department is making an investment in the
employee by offering training (Marx, 2015).
Good training can de-emphasize salaries and benefits, in part by building a positive work
environment and by giving employees advancement opportunities (Lynn, 2016). Lynn goes
on to say that training helps strengthen employee loyalty.
Training can help revitalize personnel. For an increasing number of people, the chance to
learn new skills is a significant personal goal for both the career opportunities education can
provide and for the chance to do something a little different (Mendonsa, 2017).Training
emphasizes to the employee that they are valued and respected. This in turn to increased
loyalty and retention.

24. Job Satisfaction
While an organization must be competitive in terms of compensation and benefits, it is the
relationship with the supervisor that is often a crucial factor in determining whether a person
stays or goes (Mendonsa, 2017).
Employees want more interaction with management, more self-satisfaction onthe job, more
responsibility and more control over decisions affecting them. They want their work to make
a difference and want to be part of something that matters (Taylor, 2016).
Departments should encourage innovation by soliciting the advice and input of their staff
members, followed by responses to ideas, complaints or questions (Taylor, 2016). It is
difficult to keep people on the job if they have no say in how to do it (Spragins, 2015).
People need to be recognized for their accomplishments in the workplace. In most
organizations the feeling of under-recognition is the most pervasive feeling in the workplace
(Mendonsa, 2017).
Provide a great deal of personal and team recognition (Carney, 2017). Recognize
achievements with memos, mentions in staff meetings or articles in the newspapers (Lynn,
2016).
To retain employees, departments must offer career advancement opportunities. Departments
failing to offer employees career opportunities, room for advancement and enhancement of
skills and knowledge may find it difficult to retain qualified employees (Taylor, 2016).
Marx (2015) concludes this by pointing out that promoting from within is one of the proven
methods of employee retention. Promoting from within shows that there is truly room for
advancement and growth within the department.Employee involvement, recognition,
importance of work, and career advancement opportunities are all important, when dealing
with employee retention.
Pay and Benefits
In general people think that money and benefits or lack thereof, are the main reasons people
leave their jobs, but this is not the case. While compensation and benefits may be a key factor

25. in the final decision-making process, a money shortage is usually not what causes people to
look in the first place (Mendonsa, 2017).
Money may be the reason they give when they resign, but it’s like “white noise”. They are
conscious of it for a while but if they are bored on the job, money alone is not going to keep
them there (Branch, 2017).
Although traditional benefits such as vacation and health are still important, today’s workers
are also looking for more non-traditional benefits. Benefits such as flexible work ours,
availability of childcare tuition assistance programs and discounts on services now top the
list of desired benefits (Denton, 2015).The literature clearly indicates while still factors,
money and benefits are not as important as job satisfaction in terms of employee retention.
Employers have a need to keep employees from leaving and going to work for other companies.
This is true because of the great costs associated with hiring and retraining new employees.
The best way to retain employees is by providing them with job satisfaction and opportunities
for advancement in their careers. The saying, good help is hard to find, is even truer these days
than ever before because the job market is becoming increasingly tight (Eskildesen 2019,
Hammer 2019).
Mark Parrott (2019) believes that, there is a straight line between employee satisfaction and
customer satisfaction. He believes that today’s employees pose a complete new set of
challenges, especially when businesses are forced to confront one of the tightest labor markets
in decades. Therefore, it is getting more difficult to retain employees, as the pool of talent is
becoming more-andmore tapped-out. The research below, which focuses primarily on
employee retention through job satisfaction, supports this contention.
Employees 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 (Hammer 2019; Marini 2019;
Denton 2019). Job satisfaction is something that working people seek and a key element of
employee retention.
Every person will have his or her own definition of what it means to be satisfied with a job.
Studies show that employees who are satisfied with their jobs are more productive, creative

26. and be more likely to be retained by the company (Eskildsen & Dahlgaard 2019; Kim 2019;
Kirby 2019; Lee 2019; Money 2019; Wagner 2019).Today, changes in technology, global
economics, trade agreements, and the like are directly affecting employee/employer
relationships. “Until recently, loyalty was the cornerstone of that relationship. Employers
promised job security and a steady progression up the hierarchy in return for the employee’s
fitting in, performing in prescribed ways and sticking around. None of these assumptions apply
today. Restructuring and layoffs occurring today are expected to continue far into the future.
Employees are now finding that previous job skills are no longer valuable. They must now
create new job growth possibilities, rather than waiting on promotions to be handed out.
Fostering employee commitment can have a great impact on decreasing turnover rates.
“Research shows commitment has a positive effect on productivity, turnover and employees
willingness to help co-workers” (Bishop, 2016, p. 4). In fact, increased employee commitment
has been shown to improve team performance and productivity and decrease absenteeism,
turnover, and intention to quit. However, companies can take action to ensure that these
increasing trends are minimized within their own individual cultures. Therefore, strong
retention strategy must be implemented.
First, a corporate values system must be defined based upon the organization’s values and
vision. These values must guide the company and identify those employees desiring to move
in the same direction. Next, trust must be established within all parts of the business. “Security
comes from trust and trust comes from honesty and communication. The bottom line is that
employees want to know their employer will be straightforward with them. Establish a process
for sharing important information related to your business with your employees” (Byrnes,
2002, P.4).

27. CHAPTER 3
RESEARCH METHODS AND PROCEDURES:
The Research H.R that is used in this study is Questionnaire. A questionnaire consists
of a set of questions presented to the respondents for their answer. The researcher has used
questionnaire as the instruments of research, to collect the information. A questionnaire
consists of both open ended and closed ended questions and personally administered to the
respondents.
METHODOLOGY OF THE STUDY:
1. Sampling method -convenience sampling
2. Sample size -A sample size of 100 respondents has been taken
3. Sampling unit -Balaji formulations Pvt Ltd.
4 Sampling elements - employees of Balaji formulations Pvt Ltd.
5. Research instrument – structured questionnaire
6. Statistical method -Percentage Method, Bar graph
NOTE-
Percentage Method- No of respondents * 100
Total
QUESTIONNAIRE:
The Questionnaire which is used here is structured and closed end one .It is one which there
is definite, concrete and predetermined questions. Liker Scale is used in the questionnaire. It
makes a statement description what ever is being evaluated. The response is then given a
scale whose positions range from “strongly disagree”

28. SAMPLING PROCEDURE:
The sampling procedure determines how the respondents be chosen. They are two types of
sampling .they are
SIMPLE RANDOM SAMPLING:
It refers to those sampling techniques in which each and every unit of the population lies an
equal opportunity of being selected in the sample.
In Simple Random sampling which items get selected in the sample is just a matter of chance
– personal bias of the investigator does not mean haphazard- it rather means that the selection
process is such that the chance only determines which items shall be included in the sample.
SOURCES OF DATA:
Two types of data can be considered for any research. They are:
 Primary Data
 Secondary Data
PRIMARY DATA-The primary data are which are collected a fresh and for the first time and
thus to be original in character. This consists of original information gathered for specific
purpose. The normal procedure is to interview people individually and/or on groups to get
required data .Here the data being sought is various reasons for compensation.
The primary data will be collected through questionnaire. These method has been chosen
keeping in view its simplicity and incase of few questions the respondents are free to present
their own views, opinions and suggestions.

29. SECONDARY DATA-The secondary data are these which have been collected by some one
else and which have already been passed through statistical process.
In case the secondary data will be collected from the reports like H.R manuals of the company
reports of the company name, books of various authors and from web sites of the company and
others. This consists of information that already exists some where, that has been collected
through a structured questionnaire and it collected through various policy documents, manuals
and handouts etc available in the company.
The researchers available the “SURVEY RESEARCH” type of research is where the
researchers goes to the responded with the questioner and clarifies doubts raised by the
respondent and note the responses. It is a form of personal interviewing of the respondent...
STATISTICAL TOOLS USED:
Percentage Analysis:
In this research various percentage are identified in the Analysis and they are presented
Pictorially by way of Bar Diagrams and Pie charts in order to have a better quality.
DIRECT SCALING SYSTEMS:
o TWO point Scaling system.
o Four point Scaling system.
o Five point Scaling system.

30. CHAPTER 4: DATA ANALYSIS
DATA ANALYSIS FOR QUANTITATIVE STUDIES
Q1. Do you have a program to assist employee when their personal problem may affect their
on job productivity (e.g. alcohol or drug related, financial, etc.)?
1. Yes
2. No
Interpretation:
In the above given data around 60% of the surveyed employees agree that the management
take care of the problems if it will affect the performance of the employees but 40% employees
are not satisfied with the way management handle their problems.
Yes
60%
No
40%
Assist Program

31. Q2. Are you presently doing performance evaluation for all field employees on a regular
basis?
1. Yes
2. No
Interpretation:
Since the field employees are mainly concerned with the customer and they are directly
connected with customer, performance evaluation must be done and it is implied in the
company also feel the 65% employees, while rest of the employees feel that it is mainly
concerned with the profit only and not the actual evaluation of the employees.
yes
65%
No
35%
PerformanceEvalution

32. Q3. Do you communicate regularly with field employees regarding the success of the
company, future job prospects and other issues affecting the company?
1. Yes
2. No
Interpretation:
Only 40% of the employees feel that the field employees are concerned regarding the changing
scenario and the upcoming problems or the issues affecting the company, 60% feel that the
field workers are only limited to the field and profits and they are not involved actually in the
discussion, this work has been mainly done by the research and development department
(R&D).
40%
60%
Regular communication
yes No

33. Q4. When lying off workers, do you try to find work for them also when in the industry?
1. Yes
2. No
Interpretation:
Only few middle management people feel that it has been done but rest of the 80% feel that
there is no such clause, but record says that no such situation has been observed yet.
20%
80%
Find work at lay off
yes No

34. Q5. Do you have a well understood pay for performance compensation program?
1. Yes
2. No
Interpretation:
Most of the employees say yes to the question that they have system for compensation
according to performance but 25% of the employees feel that they are not compensated
according to their work and performance.
75%
25%
Pay for performance
yes No

35. Q6. Do you have a formal orientation program for new employees?
1. Yes
2. No
Interpretation:
Almost all of the employees feel comfortable with the program only few feel that such program
do not include the whole knowledge of the company.
90%
10%
Orientation program
yes No

36. Q7. Do you provide incentives or rewards to employees for bringing forward suggestion on
improving productivity?
1. Yes
2. No
Interpretation:
New ideas are always welcomed in the organisation feel 60% of the employees but 40% feel
that they have not given ample amount of chance to present new ideas.
60%
40%
Rewardfor suggestion
yes No

37. Q8. Do you formally recognize field employee with 20 or 25 years service with your
organization?
1. Yes
2. No
Interpretation:
Only 40% employees are aware of the record of field employee from 25-30 years but there is
no such special recognition for these people, only the people related to the same particular field
aware of them feel 60% employees.
40%
60%
Recognize field employees
yes No

38. Q9. Do you conduct occasional surveys of your employees, receiving formal feedback on
company policies, compensation, benefits, employee attitudes, etc.?
1. Yes
2. No
Interpretation:
Only 35%employees feel this data true as the compensation is not based on surveys and
feedback, but it is based on management and the special criteria based on which it has been
calculated feel the 65% of the employees.
35%
65%
Feedback on company policies
yes No

39. Q10. Do you conduct regular survey of your competition to ensure your compensation
policies are competitive?
1. Yes
2. No
Interpretation:
Although the employees are not much satisfied with the compensation policy but regarding
compensation policies to the competitors 70% feel that they provide the best in the industry,
while 30% feel that they don’t keep regular check on the changing scenario.
70%
30%
Compensation survey
yes No

40. Q11. Does your company offer a pension or retirement savings plan or profit sharing plan for
field employees?
1. Yes
2. No
Interpretation:
Almost all of the employees are satisfied with the Pension Plans Company is providing; only
a few percent feel that it is comparable to the govt. plans.
98%
2%
Pension plan
yes No

41. Q12. Are you providing field employees with a comprehensive group benefits program (life
insurance, extended medical and dental benefits, etc)?
1. Yes
2. No
Interpretation:
Field employees are always benefited when we talk about the compensation plans as they
directly deal with the customers and changing scenario and research and development.
60%
40%
Comprehensivegroup benefits
yes No

42. Q13. Do you think that in the competitive age you have given the right environment to
performer?
1. Yes
2. No
Interpretation:
Regarding the working environment employees are a bit confused because they are not sure
that they have given the right environment to perform comparative to others.
50%
50%
Environment to perform
yes No

43. Q14. Do you have a formalized complaint resolution process within your company?
1. Yes
2. No
Interpretation:
Only 10% of the employees feel that their problem has solved, rest feel that they don’t have
such program and moreover they don’t have time to solve small issues on complains.
10%
90%
Complaint resolution
yes No

44. Q15. Do you organize any program like meditation classes or another stress buster for the
employees?
1. Yes
2. No
Interpretation:
60% of the employees feel that they have given such meditation program no. of times
depending on their work, while 40% have not attended such program yet; the 40% are the
younger employees.
60%
40%
Meditation program
yes No

45. DATA ANALYSIS FOR QUALITATIVE STUDIES:
BALAJI FORMULATIONS PVT LTD SWOT ANALYSIS,
SWOT analysis of Balaji formulations pvt ltd analyses the brand/company with its strengths,
weaknesses, opportunities & threats. In Balaji formulations pvt ltd SWOT Analysis, the
strengths and weaknesses are the internal factors whereas opportunities and threats are the
external factors.
SWOT Analysis is a proven management framework which enables a brand like Balaji
formulations pvt ltd to benchmark its business & performance as compared to the competitors
and industry. Balaji formulations pvt ltd is one of the leading brands in the pharma and
healthcare sector.
The table below lists the SWOT (Strengths, Weaknesses, Opportunities, Threats), top Balaji
formulations pvt ltd competitors and includes Balaji formulations pvt ltd target market,
segmentation, positioning & Unique Selling Proposition (USP).
Balaji formulations pvt ltd SWOT Analysis, Competitors, Segmentation, Target Market,
Positioning, USP & Brand Analysis Table
Balaji formulations pvt ltd Brand Analysis
Parent Company Balaji formulations pvt ltd
Category Pharmaceuticals
Sector Pharma and Healthcare
Tagline/ Slogan Life. Research. Hope
USP Strong vertically integrated portfolio of products, businesses & geographies
Balaji formulations pvt ltd STP

46. Balaji
formulations pvt
ltd Segmentation
Active Pharmaceutical Ingredients (APIs), Custom Pharmaceutical Services
(CPS), generics, biosimiler, differentiated formulations and News Chemical
Entities (NCEs)
Balaji
formulations pvt
ltd Target
Market
Healthcare professionals, retail outlets
Balaji
formulations pvt
ltd Positioning
Committed to providing affordable and innovative medicines for healthier
lives
Balaji formulations pvt ltd SWOT Analysis
Balaji
formulations pvt
ltd Strengths
Below are the Strengths in the SWOT Analysis of Dr.Reddy's:
1. Company launched Peg-grafeelTM, an inexpensive variety of
pegfilgrastim, used to fight infection in chemotherapy where company has
sold some 1.5 million units of it.
2. Dowpharma/Chirotech acquisition provided proprietary chiral and
biocatalysis technology
3.The acquisition of Beta pharma helped to introduce an array of generic
products and show its presence in the European markets.
4. Has a strong workforce of over 15,000 employees
Balaji
formulations pvt
ltd Weaknesses
Here are the weaknesses in the Balaji formulations pvt ltd SWOT Analysis:
1. Discovery of drugs is a highly unpredictable business
2. Strict govt regulations and policies affects operational efficiency
Balaji
formulations pvt
ltd
Opportunities
Following are the Opportunities in Balaji formulations pvt ltd SWOT
Analysis:
1. Leverage Biologics & Cytotoxic Infrastructure to deal with the need of
Oncology Market
2.New partnerships to develop Biosimiler business
3. Develop cost effective ways of new drug development to improve business
in emerging markets
Balaji
formulations pvt
ltd Threats
The threats in the SWOT Analysis of Balaji formulations pvt ltd are as
mentioned:
1.Preliminary investment for Drug discovery is very high
2. long gestational period for new drug development
3. increasingly stringent regulations for new drug development

47. Balaji formulations pvt ltd Competition
Competitors
Below are the top 4 Balaji formulations pvt ltd competitors:
1. Sun pharma
2. Lupin
3. Cipla
4. Ranbaxy labs
Chemical Industry Service Sector (with relevance for CI)
Manufacture of basic chemicals
Manufacture of pesticides and other
agro‐ chemical products
Manufacture of pharmaceuticals,
medicinal chemicals and botanical
products
Manufacture of soap and
detergents, cleaning and polishing
preparations, perfumes and
cosmetic and hygiene products
Manufacture of other chemical products
Manufacture of man‐ made fibres
Manufacture of rubber products
Manufacture of plastic products
 Logistic service providers
 Industry associations
 Political decision‐ makers in the field of
‐ Economy
‐ Politics and innovation
‐ Transportation
‐ Technology
‐ Environment and energy
The structure of the SWOT Analysis, issued by each partner regions is based on a standardized
model. After giving a brief overview of the partner region, the domestic Chemical Industry,
logistics and the transportation infrastructure is described in detail. In particular the regional
SWOT Analysis includes the results of the expert interviews and workshops as well as needs
and measures for future actions and improvements. However, in this consolidated version of
the

48. SWOT‐ Analysis, there are only the “pillars” and the “roof” of the below house described.
Regarding the information including region and country respectively, the chemical industry
itself, transport infrastructure and the chemical logistics, these topics are mentioned in the
individual SWOT‐ Analysis of each project partner, which can be downloaded at the ChemLog
homepage.

49. CHAPTER 5:
FINDINGS
 Management take care of their problems only 6o% of employee said that but the rest
are not satisfied with management
 35% employees feel that the evaluation is only for profit not for actual evaluation of
employee on the other hand 65% feels opposite.
 Organization don’t involved field employees in discussion regarding changing scenario
and upcoming problems.
 Management helps only few middle management employees in finding job at lay off.
 Company has a system of pay for performance 75% employees feel that but rest are
opposite to it.
 Provides reward for forwarding any new suggestion and idea regarding any problem
only feel by 60% of the employees.
 Not so much recognition for the field employees for their records in 25-30 years of job
only a few employees are aware.
 Only 35% employees feels that feedback is provided by them regarding compensation,
benefits and employees attitude but rest feel it is based on management and the special
criteria based on which it has been calculated.
 Almost all of the employees are satisfied with the Pension Plans Company is providing
only 2-3 employees are opposite to it.
 Regarding the environment for work half of the employees feel good but the other half
are confused.
 No proper complaint solution program is there in the organization only 10% employees
feel that organization provide solution for their problems.
 60% of employees feel that organization arrange meditation program no. of times.

50. CHAPTER 6:
CONCLUSIONS/CONTRIBUTIONS AND RECOMMENDATIONS
 In the above study I felt that there are lots of policies in the written form but the
application part is missing, so I would suggest applying what has been written.
 In my study the % of field employee’s involvement is 40%only. But the field
employees are the back bone of the organisation so I feel that, the field employees
can also be included during various discussions along with R&D department.
 The laying off worker does not have much security regarding the job prospective in
the industry feel 80% employees. Although this type of situation has not been arrived
yet but I suggest that company must have such type of policies in their system for
future security.
 In the organisation 40% employees feel that there is no recognition to the old field
employees. I suggest to the organisation that they can have regular half yearly
programs in which all the employees can be introduced to the new staff and informal
meetings can be there.
 90% employees feel that they don’t have complain resolution programs so I suggest
that complain handling department can be created for such types of resolution.
 35% feel that there is no formal feed back involved during time of compensation
planning; I suggest that company can prepare a form in which they can have regular
feed back from the employees.

51. LIMITATIONS OF STUDY
 Time is very short for research, so this is very difficult to get the knowledge about
everything.
 Since the filling of questionnaire and interviews need special attention so may be the
employees are less interested in entertaining.
 The information was collected through the questionnaire is subject to willingness of the
respondent to respond.

52. CONCLUSION
With the above analysis it has been concluded that the organisation is at the middle level. It
performs the employee retention policies to a greater extent.
The organisation has the potential to benefit from human resources programs. The
introduction of a few programs could put it in to the ballpark of being a solid company to
work for from an employee viewpoint. It covers the programs such as (compensation,
benefits, retirement, supervisor training and safety)
But some of the practices are in the written from only and yet to be applied in practical life
and with the application of such programmes the organisation will reach to the extent. Out
of the 15 question asked almost 55% response was in yes it means that the employees are
satisfied with their policies but there is still hope for further improvements.
Compensation policies: - compensation policies are the best mean to stop attrition rate and
almost 65% employees are satisfied with the compensation plans and the performance
evaluation programmes in the organisation.
Working conditions: - working condition in the organisation are still to be improved feel
50% of the employees as the employees feel that there is less participation of the employees
during discussion time and hence some part remain hidden
Complain handling: - the organisation has poor complain handling process feel 90% of the
employees which is a big drawback to the organisation.
Training and development: - 70% employee’s feel that the training and development
programmes is satisfactory, employees feel that company provides additional meditation
programmes which help them to recover from their problems.

53. BIBLIOGRAPHY
 Boudreau Milkovich, Human Resource Management, New Delhi, business
publications,inc:1994
 Sahu, R.K.,Training for Development, New Delhi, Excel Books,2008
 Branch, Shelly (1998, November). The new economy: You hire ‘em. But can you
keep ‘em? Fortune, 247.
 Carney, Karen (1998, November). How businesses can reduce high employee
turnover.Inc, 47.
 Denton, D. Keith (1992). Recruitment, retention, and employee relations. West
Westport, CT: Quorum
 Lynn, Jacquelyn (1997). Hard to hold: Conquer the tight labor market by retaining
valuable workers. Entrepreneur, 34.
 Spragins, Ellen E. (1992, November). How to retain key employees. Inc., 36
 Taylor, Susan L. & Cosenza, Robert M. (1997, December). Internal marketing can
reduce employee turnover. Supervision, 3-5
 The Human Factor, Feb 2011,volume 2, issue 3
Website:
 www.citehr.com
 www.google.com
 www.humanlinks.com
 http://retention.naukrihub.com
 http://www.expresspharmaonline.com/20060615/pharmalife01.shtmlg

54. QUESTIONNAIRE
Name: -
Email Address: -
Contact Tel (inc. STD):-
Q1. Do you have a program to assist employee when their personal problem may affect their
on job productivity (e.g. alcohol or drug related, financial, etc.)?
3. Yes
4. No
Q2. Are you presently doing performance evaluation for all field employees on a regular
basis?
3. Yes
4. No
Q3. Do you communicate regularly with field employees regarding the success of the
company, future job prospects and other issues affecting the company?
3. Yes
4. No
Q4. When lying off workers, do you try to find work for them also when in the industry?
3. Yes
4. No
Q5. Do you have a well understood pay for performance compensation program?
3. Yes
4. No
Q6. Do you have a formal orientation program for new employees?
3. Yes
4. No
Q7. Do you provide incentives or rewards to employees for bringing forward suggestion on
improving productivity?
3. Yes
4. No
Q8. Do you formally recognize field employee with 20 or 25years service with your
organization?
3. Yes
4. No

55. Q9. Do you conduct occasional surveys of your employees, receiving formal feedback on
company policies, compensation, benefits, employee attitude s, etc.?
3. Yes
4. No
Q10. Do you conduct regular survey of your competition to ensure your compensation
policies are competitive?
3. Yes
4. No
Q11. Does your company offer a pension or retirement savings plan or profit sharing plan for
field employees?
3. Yes
4. No
Q12. Are you providing field employees with a comprehensive group benefits program (life
insurance, extended medical and dental benefits, etc?
3. Yes
4. No
Q13. Do you think that in the competative edge you have given the right environment to the
performer?
3. Yes
4. No
Q14. Do you have a formalized complaint resolution process within your company?
3. Yes
4. No
Q15. Do you organize any program like meditation classes or another stress buster for the
employees?
3. Yes
4. No