Research_Project_Report_-_Final_MBA (1).pdf

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MBA Semester – IV
Research Project
Name Tahseen Naaz
USN
221VMBR03218
Elective Human Resources Management
Date of Submission 13-06-2024

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A study on “Employee Retention Strategies and Effectiveness adopted by
Dezy”
Research Project submitted to Jain Online (Deemed-to-be University)
In partial fulfillment of the requirements for the award of:
Master of Business Administration
Submitted by:
Tahseen Naaz
USN:
221VMBR03218
Under the guidance of:
Prof. Ambika
(Faculty-JAIN Online)
Jain Online (Deemed-to-be University)
Bangalore
2023-24

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DECLARATION
I, Tahseen Naaz hereby declare that the Research Project Report titled “A Study on Employee
Retention Strategies and Effectiveness adopted by Dezy” has been prepared by me under the
guidance of the Prof. Ambika. I declare that this Project work is towards the partial fulfillment
of the University Regulations for the award of the degree of Master of Business
Administration by Jain University, Bengaluru. I have undergone a project for a period of
Eight Weeks. I further declare that this Project is based on the original study undertaken by
me and has not been submitted for the award of any degree/diploma from any other
University / Institution.
Place: Bengaluru
___________________
Date: 13-06-2024 Tahseen Naaz
USN: 221VMBR03218

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CERTIFICATE
This is to certify that the Research Project report submitted by Ms.Tahseen Naaz bearing
221VMBR03218 on the title “A Study on Employee Retention Strategies and Effectiveness
adopted by Dezy” is a record of project work done by her during the academic year 2022-23
under my guidance and supervision in partial fulfillment of Master of Business
Administration.
Place: Bengaluru
Date: 13-06-2024 Prof. Ambika

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ACKNOWLEDGEMENT
I would like to express my heartfelt gratitude to Jain University, Bengaluru, for providing me
with the opportunity and support required to complete my project and earn my Post
Graduation in Master of Business Administration degree. The resources, guidance, and
learning environment at Jain University have been invaluable in shaping my academic
journey.
A special thanks to Prof. Ambika for her unwavering guidance, mentorship, and support
throughout this project. Her expertise, insights, and encouragement have been instrumental in
navigating the complexities of talent acquisition research.
I extend my deepest appreciation to my family and friends for their constant encouragement,
understanding, and assistance throughout this endeavor. Their unwavering support has been a
source of strength and motivation, enabling me to overcome challenges and achieve my
academic goals.
____________________
Tahseen Naaz
USN:221VMBR03218

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EXECUTIVE SUMMARY
The executive summary of the study on employee retention strategies and effectiveness
adopted by Dezy encapsulates a comprehensive analysis of the company's approaches to
retaining its valuable workforce amidst a dynamic business environment. Dezy, a leading
technology company renowned for its innovative solutions and customer-centric approach,
recognizes the pivotal role of employee retention in sustaining organizational success. The
study delves into various theoretical concepts underpinning employee retention, including the
psychological contract, organizational culture, motivation theories, career development, work-
life balance, recognition and rewards, communication, and feedback mechanisms. These
concepts serve as a framework for understanding the complexities of employee retention and
evaluating Dezy's strategies in this regard.
The company overview provides insights into Dezy's organizational culture, commitment to
employee development, emphasis on work-life balance, competitive compensation and
benefits, and effective communication channels. These elements contribute to a positive work
environment conducive to employee engagement, satisfaction, and retention. Additionally, the
environmental analysis using a PESTEL framework delves into the external factors
influencing Dezy's retention strategies, including political, economic, socio-cultural,
technological, environmental, and legal aspects. Understanding these external forces is crucial
for designing adaptive and effective retention initiatives.
The study employs qualitative and quantitative research methods, including surveys,
interviews, and data analysis, to evaluate the effectiveness of Dezy's employee retention
strategies. Key findings reveal the strengths and areas for improvement in Dezy's retention
programs, such as the importance of career development opportunities, recognition and
rewards, work-life balance initiatives, and transparent communication. The study also
highlights the impact of external factors, such as economic conditions and technological
advancements, on employee retention trends within Dezy.
Recommendations derived from the study focus on enhancing existing retention strategies,
aligning them with emerging trends and employee preferences, leveraging technology for

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personalized experiences, fostering a culture of continuous feedback and improvement, and
integrating sustainability practices into retention initiatives. These recommendations aim to
support Dezy in optimizing its employee retention efforts, maintaining a motivated and
engaged workforce, and ultimately achieving long-term organizational success in a
competitive industry landscape.

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TABLE OF CONTENTS
Title Page Nos.
Executive Summary 6
List of Tables 35-48
List of Graphs 35-48
Chapter 1: Introduction and Background 12-17
Chapter 2: Review of Literature 18-27
Chapter 3: Research Methodology 28-33
Chapter 4: Data Analysis and Interpretation 34-48
Chapter 5: Findings, Recommendations and Conclusion 49-54
References 55
Annexures 59-61

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List of Tables
Table No. Table Title Page No.
1 Age of respondents 35
2 No. of respondents of monthly income 36
3 No. of respondents who faces gender discrimination 37
4 No. of respondents who are satisfied with their jobs 38
5 No. of respondents regarding the staff members behavior 39
6 No. of respondents for reasons of attrition rate 40
7 No. of respondents regarding the employees left in last 3 years 41
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No. of respondents regarding the preventive measures taken by
Dezy to retain the employees
42
9 No. of respondents about their literacy 43
10 No. of respondents about challenging work 44
11 No. of respondents about aspiring young generation 45
12 No. of respondents who conducts exit interviews 46
13 No. of respondents who thinks which area should be improved 47
14 No. of respondents regarding work culture boost confidence 48
List of Graphs
Graph No. Graph Title Page No.
1 Age of respondents 35
2 No. of respondents of monthly income 36
3 No. of respondents who faces gender discrimination 37
4 No. Of respondents who are satisfied with their jobs 38
5 Behaviour of Staff Members 39
6 No. of respondents for reasons of attrition rate 40
7 No. of respondents regarding the employees left in last 3 years 41
8
No. of respondents regarding the preventive measures taken by Dezy
to retain the employees
42

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9 No. of respondents about their literacy 43
10 No. of respondents about challenging work 44
11 No. of respondents about aspiring young generation 45
12 No. of respondents who conducts exit interviews 46
13 No. of respondents who thinks which area should be improved 47
14 No. of respondents regarding work culture boost confidence 48

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CHAPTER 1
INTRODUCTION AND BACKGROUND

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INTRODUCTION AND BACKGROUND
1.1 Purpose of the Study
The purpose of conducting a comprehensive study on employee retention strategies and their
effectiveness within Dezy is multifaceted. Firstly, the study seeks to delve deep into the
various strategies and initiatives implemented by Dezy aimed at retaining its workforce. This
involves examining policies related to compensation and benefits, career development
opportunities, work-life balance initiatives, and overall organizational culture. By
understanding the specific strategies in place, the study aims to evaluate their impact on
employee satisfaction, engagement, and ultimately, retention rates.
Furthermore, the study intends to assess the effectiveness of these strategies. This involves
analyzing quantitative data such as turnover rates, retention periods, and employee feedback
metrics, as well as qualitative data from interviews and surveys. Through this analysis, the
study aims to identify which strategies are most successful in retaining employees and which
areas may require adjustments or enhancements.
Moreover, the study aims to contribute to the broader field of human resource management by
providing insights and best practices in employee retention. By showcasing real-world
examples and outcomes from Dezy's strategies, the study can serve as a valuable resource for
other organizations looking to improve their retention efforts.
Ultimately, the overarching purpose of this study is to inform strategic decision-making
within Dezy and contribute to the ongoing conversation surrounding effective employee
retention strategies in today's competitive business landscape.

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1.2 Introduction to the Topic
Employee retention is a critical aspect of organizational success, especially in today's
competitive business environment. As companies strive to attract and retain top talent,
understanding effective retention strategies becomes paramount. One company that has
garnered attention for its successful retention strategies is Dezy. Through a comprehensive
study, this research aims to delve into the various strategies employed by Dezy to retain its
employees and assess their effectiveness. By examining factors such as workplace culture,
career development opportunities, compensation and benefits packages, work-life balance
initiatives, and employee engagement programs, this study seeks to provide valuable insights
into what makes Dezy's retention strategies successful. Moreover, it aims to highlight best
practices that other organizations can adopt to enhance their own employee retention efforts.
This topic is not only relevant but also timely, as businesses worldwide increasingly recognize
the importance of retaining skilled and motivated employees to drive long-term growth and
success.
1.3 Overview of Theoretical Concepts
Theoretical concepts underpinning the study of employee retention strategies are multifaceted
and draw from various fields such as organizational psychology, human resource management,
and business strategy. One of the foundational concepts is the psychological contract, which
refers to the unwritten expectations and obligations between employees and their organization.
Understanding and managing this contract is crucial for employee retention as it influences
factors like job satisfaction, commitment, and loyalty.
Another key concept is organizational culture, encompassing the values, beliefs, norms, and
practices that shape the work environment. A positive and supportive culture promotes
employee engagement and reduces turnover. Additionally, motivation theories such as
Herzberg's Two-Factor Theory and Maslow's Hierarchy of Needs provide insights into what

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motivates employees and how organizations can design retention strategies around these
motivational factors.
Career development and growth opportunities are also central to employee retention. The
concept of career anchors, as proposed by Edgar Schein, highlights individuals' core values
and preferences in their careers, guiding their decisions and commitment to an organization.
Offering meaningful work, training, mentoring, and advancement opportunities align with
employees' career aspirations and enhance their retention.
Work-life balance is another critical concept, recognizing the importance of allowing
employees to balance their professional responsibilities with personal life demands. Flexible
work arrangements, wellness programs, and supportive policies contribute to a healthy work-
life balance and improve employee satisfaction and retention.
Moreover, recognition and rewards play a significant role in retaining employees. The
concept of intrinsic and extrinsic rewards, as discussed in motivation theories, emphasizes the
importance of both tangible rewards like compensation and benefits and intangible rewards
such as recognition, appreciation, and meaningful work assignments.
Lastly, effective communication and feedback mechanisms are essential theoretical concepts
in employee retention. Open communication channels, regular feedback, and opportunities for
dialogue and voice allow employees to feel heard, valued, and connected to the organization,
enhancing their engagement and commitment.
Overall, these theoretical concepts provide a framework for understanding and evaluating
employee retention strategies and their effectiveness, which will be further explored in the
study of Dezy's retention strategies.

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1.4 Company Overview
Dezy, a leading company in the technology sector, serves as the focal point of this study on
employee retention strategies and their effectiveness. Established over two decades ago, Dezy
has carved a niche for itself in the competitive landscape of software development and IT
solutions. The company's mission revolves around delivering innovative and cutting-edge
technology solutions to empower businesses and individuals alike. With a strong emphasis on
customer satisfaction and technological excellence, Dezy has built a reputation for reliability,
quality, and efficiency in its products and services.
One of the key strengths of Dezy lies in its organizational culture, characterized by a dynamic
and collaborative work environment. The company values diversity, creativity, and teamwork,
fostering a culture of inclusivity and respect among its employees. This positive work culture
is instrumental in attracting top talent and retaining skilled professionals within the
organization.
Dezy's commitment to employee development and growth is evident in its comprehensive
career advancement programs. The company invests in training, mentoring, and skill
development initiatives to nurture talent and empower employees to reach their full potential.
By offering opportunities for career progression and recognizing individual achievements,
Dezy ensures that its employees are motivated, engaged, and committed to long-term success.
Moreover, Dezy prioritizes work-life balance and employee well-being through flexible work
arrangements, wellness programs, and supportive policies. The company understands the
importance of maintaining a healthy equilibrium between professional responsibilities and
personal life commitments, thereby enhancing employee satisfaction and overall productivity.
In terms of compensation and benefits, Dezy remains competitive in the industry, offering
attractive salary packages, performance-based incentives, and comprehensive benefits
packages. Recognizing the significance of rewards and recognition in employee retention,
Dezy has implemented robust reward systems to acknowledge and appreciate employees'
contributions and accomplishments.

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Communication and feedback mechanisms are integral components of Dezy's employee
retention strategies. The company fosters open communication channels, encourages feedback,
and values employee input in decision-making processes. This transparent and inclusive
approach ensures that employees feel heard, valued, and engaged in the company's vision and
goals.
Overall, Dezy's commitment to fostering a positive work culture, investing in employee
development, prioritizing work-life balance, and implementing effective communication and
feedback systems underscores its dedication to employee retention and organizational success.
These aspects will be further explored and analyzed in this study to evaluate the effectiveness
of Dezy's employee retention strategies and their impact on overall organizational
performance.
1.5 Environmental Analysis (PESTEL Analysis)
In conducting an environmental analysis, specifically using a PESTEL framework, for the
study on employee retention strategies and effectiveness adopted by Dezy, several key factors
come into play that can influence the company's approach to retaining its workforce.
Starting with the political factors, Dezy operates within a regulatory environment that shapes
labor laws, employment policies, and industry regulations. Changes in government policies
regarding labor rights, immigration, taxation, and workplace safety can impact how Dezy
designs and implements its employee retention strategies. For instance, stricter regulations on
employee benefits or work hours may necessitate adjustments in retention programs to ensure
compliance and employee satisfaction.
Moving on to economic factors, fluctuations in the economy, such as economic growth or
recession, inflation rates, currency exchange rates, and market trends, can have a significant
impact on employee retention strategies. During economic downturns, companies like Dezy
may face budget constraints, affecting their ability to offer competitive salaries, bonuses, and
benefits, which could, in turn, impact employee retention rates. Conversely, periods of

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economic prosperity may provide opportunities for investment in employee development and
engagement initiatives.
The socio-cultural factors encompass societal norms, demographics, cultural values, and
lifestyle trends that influence employee behaviors and expectations. In a diverse workforce
like Dezy's, understanding cultural differences, generational preferences, and societal shifts is
crucial for designing inclusive and effective retention strategies. For example, millennials and
Gen Z employees often prioritize work-life balance, career growth opportunities, and purpose-
driven work, prompting Dezy to tailor retention initiatives accordingly.
The technological factors in the PESTEL analysis focus on advancements in technology that
impact the workplace, employee roles, and communication channels. Dezy, being a
technology-focused company, leverages digital tools, automation, and data analytics to
enhance employee experiences, streamline processes, and facilitate remote work. Integrating
technology into retention strategies, such as using AI-powered HR systems for personalized
career development plans or virtual engagement platforms for remote teams, can improve
retention rates and employee satisfaction.
Environmental factors encompass sustainability concerns, climate change impacts, and green
initiatives that organizations like Dezy may consider in their retention strategies. Employees
increasingly value environmentally responsible practices and may be more inclined to stay
with companies that demonstrate a commitment to sustainability through eco-friendly policies,
green initiatives, and corporate social responsibility efforts.
Lastly, legal factors involve compliance with employment laws, labor regulations, data
protection laws, and ethical standards. Dezy must ensure that its retention strategies adhere to
legal requirements regarding employee rights, privacy, non-discrimination, and fair
employment practices. Any legal changes or emerging ethical considerations can influence
how Dezy designs, implements, and evaluates its retention initiatives to ensure they are
ethical, legal, and effective.
By analyzing these PESTEL factors, the study can gain insights into the external forces
shaping Dezy's employee retention strategies and assess their effectiveness in adapting to the
dynamic business environment.

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CHAPTER 2
REVIEW OF LITERATURE

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REVIEW OF LITERATURE
2.1 Domain/ Topic Specific Review
Ajit Kamath, Chairman and Managing Director, Arch Pharmalabs, mentions,
"Perks, promotions, increments, etc, have their own importance in ensuring
employee loyalty. However, these are a given wherein employees try to
always look at improving their socio-economic status. Our observation, in the
manufacturing world, has been a high degree of aversion to lateral movements
in the same organization. Job rotation has not been accepted by people at
middle level and sometimes serves as a demotivator and a signal for an
employee to consider an exit. Training programs are however appreciated but
again the choice of the program is very critical since a majority of the times
such programs tend to deviate from the stated theme."
2.2 Gap Analysis
· Identify Current Strategies: Evaluate Dezy's existing employee retention strategies.
· Benchmarking: Compare Dezy's strategies with industry best practices.
· Identify Gaps: Determine areas where Dezy's strategies fall short or could be improved.
· Recommendations: Provide actionable recommendations to bridge these gaps and enhance
effectiveness.

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BPO EMPLOYEE RETENTION
Attrition is the biggest problem faced by BPOs these days. Attrition rate in BPOs is more than
the attrition rate in any other sector. It is very important to control this attrition rate. Many
retention schemes are applied in BPOs for retention.
A single tool like training alone is not sufficient for employee retention. The best results for
employee retention can be achieved by applying different tools strategically. Let us now learn
about various strategies which can boost successful employee retention in BPOs.
1. First know the cost. This is the most basic and initial part of the retention process. A
good retention plan needs all the facts. The turnover cost includes cost of selection
process, hiring, induction, training, lost productivity, etc.
2. Hire from known sources like employee referrals through trustworthy employees.
3. Hire the right people. Retention starts with recruitment itself. Identify the
characteristics of the people you want to hire who fit in organization’s culture. To
retain employees, the people who are productive and are likely to stay for a longer
time should be hired.
4. Focus on employee orientation. It is the first impression that the employee takes home
with him. A proper welcome form the management will encourage the employee to
stay with the organization.
5. Individual development. Develop career plans for employees. Initiate mentorship and
higher education programs to keep the learning and development moving.
6. Training for managers. An important factor that keeps the employee in the
organization is the manager. Employees need a manager who manages them well. A
manager should be a good listener and motivator. Proper training should be given to
the managers.
7. Find the reason why employees are leaving. Conduct exit interviews with the
employees after 3-4 months of leaving the job. This is because most of the employees
would not like to reveal the true reason of quitting the job as long as they are in the

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organization and are associated with the job. The exit interviews can be conducted
online. Then the employees can talk straight-from-the-shoulder.
8. Employee recognition. Star of the month, top performer, picture on bulletin boards,
appreciation cards and certificates, etc, increase employee moral and confidence. This
is a great way to retain employees of a call center.
COMMUNICATION BETWEEN EMPLOYEE AND EMPLOYER -
Communication is a process in which a message is conveyed to the receiver by the sender.
The message may be or may not be in a common format or language that both the sender
and receiver understand. So there is a need to encode and decode the message in the
process. Encoding and decoding also helps in the security of the message. The process of
communication is incomplete without feedback.
Communication is the solution to almost everything in this world. Same applies to
employee retention also. Straight-from-the-shoulder communication is what the
employees need from their employers. Employees look for organizations where
communication and process are transparent. Nothing is hidden and shared with the
employees.

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There are 3 categories of employees:
 A: Who will leave their current employer in 3 years of their employment
 B: Who have a probability of leaving their current employer in next 3 years
 C: Who will stay with their current employer in the next 3 years
Category A: These are the employees who lack communication with their employers.
Category B: These are the employees who have proper, well structured communication
with their employers.
Communication is also the way to win the employees trust in the organization. Employees
trust the employers who are friendly and open to them. This trust leads to employee
loyalty and finally retention. Employers also feel that the immediate supervisors are the
most authenticated and trusted source of information for them. So the organizations
should hire managers who are active communicators.

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COMMUNICATION MEDIUMS -
 Open door policy: Organizations should support open door policies so that the
employees feel comfortable and are able to express their doubts and feeling to their
employers.
 Frequent meetings and Social gatherings
 Emails, Newsletters, Intranet and many more
So there should be effective communication across the organization and this communication
should be two-way. Communication alone can lead to unimaginable heights of employee
retention.
COMPENSATION -
Compensation constitutes the largest part of the employee retention process. The
employees always have high expectations regarding their compensation packages.
Compensation packages vary from industry to industry. So an attractive compensation
package plays a critical role in retaining the employees in the organization for long period..
Compensation includes salary and wages, bonuses, benefits, prerequisites, stock options,
bonuses, vacations, etc. While setting up the packages, the following components should
be kept in mind.
SALARY AND MONTHLY WAGE -
It is the biggest component of the compensation package. It is also the most common factor
of comparison among employees. It includes
o Basic wage
o House rent allowance
o Dearness allowance
o City compensatory allowance

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Salary and wages represent the level of skill and experience an individual has. Time to time
increase in the salaries and wages of employees should be done. And this increase should be
based on the employee’s performance and his contribution to the organization.
Bonus: Bonuses are usually given to the employees at the end of the year or on festival to
retain employee in the organization .
Economic benefits: It includes paid holidays, leave travel concession..
Long-term incentives: Long term incentives include stock options or stock grants. These
incentives help retain employees in the organization's start up stage.
Health insurance: Health insurance is a great benefit to the employees. It saves employees
money as well as gives them a peace of mind that they have somebody to take care of them in
bad times. It also shows the employee that the organization cares about the employee and its
family.
After retirement: It includes payments that an Employee gets after he retires like EPF
(Employee Provident Fund) etc.
Miscellaneous compensation: It may include employee assistance programs (like
psychological counseling, legal assistance etc), discounts on company products, use of a
company cars, etc.

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EMPLOYEE ENGAGEMENT -
An engaged employee is the one who:
 Is enthusiastic and is inspired by his/her work
 Is committed and is fascinated by his/her work
 Cares about the future of the organization
 Shares a strong emotional bond with the organization
Is loyal to the organization and the customers
 Makes more money for the organization by putting in his 100% efforts
 Is productive , ethical, accountable and dependable
Employee Engagement :

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According to a study, the percentage of employees in an organization who are actively
engaged, not engaged and actively disengaged in their jobs are 30%, 55%, 15% respectively.
Engaged employees need less focus and attention from managers as they know their duties
and perform their tasks efficiently. They set their aim and meet the expectations. But
sometimes, due to some reasons, it hardly takes time for engaged employees to turn into
disengaged employees. At this point of time the managers need to identify the symptoms of
budding employee disengagement and take preventive measures to limit it from growing
further. This problem can be solved by having a conversation with the employee and
discussing the problem that the employee is facing.
We are in the middle of a branding renaissance where the strategies and tracks of the past no
longer guarantee your company’s future. Success will favor organizations and business that
integrate annovation and their creativity into their corporate culture, their product and
services, and how they connect with their employees and new recruits.
ISI’s employee retention strategies are developed to assist HR managers by combining
creative solutions with HR objectives. ISI can enhance your company’s brand experience in
the eye of current and potential employees and design an emotive bond between all parties.

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At the end of the day, we all want to achieve grater harmony and more happiness in the
workplace and in our lives.
The major consequence for a company is loss of groomed talent and the spectre of
replacement which is a huge task, as a human asset walks away with years of training,
experience and the unique company culture

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CHAPTER 3
RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY
3.1 Objectives of the Study
1. To identify the Retention Strategy in Dezy.
2. To understand the impact of Retention Strategy on the
performance of employee of Dezy.
3. To find the employees awareness in Dezy about various
activities to retain employee.
4. To asses satisfaction/dissatisfaction level in employee after exit
interview.
5. To know the impact of various activities on the productivity of
Dezy.
3.2 Scope of the Study
1) This research has scope in developing policy and strategy of the organization.
2) It has also scope to create awareness among employees.
3) This study will be helpful to the researcher who want to extend their further research
3.3 Methodology
In conducting the research methodology for studying employee retention strategies and their
effectiveness, this research will include both primary and secondary data collection methods.
For primary data collection, a survey will be conducted at DEZY, targeting at least 50
respondents. The survey will involve a questionnaire comprising 20 questions related to
awareness and perceptions of retention strategies. Additionally, observations will be made to

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supplement the survey data. Secondary data will be gathered from various sources such as
websites, books, and magazine articles, focusing on existing literature and insights related to
retention strategies. The research design to be employed will be exploratory in nature, aiming
to gain initial insights and familiarity with the subject area before more rigorous investigation.
3.3.1 Research Design
I used exploratory research method and conducted the research in Dezy Bangalore and I has
used 50 respondents as a sample.
3.3.2 Data Collection
· Surveys and Questionnaires: Gather quantitative and qualitative data from employees.
· Interviews and Focus Groups: Conduct in-depth discussions with selected employees.
· HR Records: Analyze existing HR data on employee tenure, turnover rates, and exit interviews.
· Engagement Platforms: Use regular feedback and pulse surveys to monitor employee sentiment.
· Benchmarking Reports: Compare retention metrics with industry standards.
PRIMARY DATA -
Here we did survey through preparing questionnaire and observation. I selected the 50
respondents in Dezy, Bangalore city and asked them about 20 question regarding Retention
Strategy and Its Effectiveness, which are filled by the respondents in person regarding
awareness of the Retention Strategy.
SECONDARY DATA -
I collected secondary data from websites related to Retention Strategy, books, and articles
in magazine.

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3.3.3 Sampling Method (if applicable)
SAMPLING UNIT -
50 respondents were the sampling unit
SAMPLING AREA -
Dezy Company was the sampling area of research
3.3.4 Data Analysis Tools
· Surveys and Questionnaires:
 · Collect qualitative and quantitative data on employee satisfaction, engagement, and reasons
for staying or leaving.
 Tools: Google Forms, SurveyMonkey.
· Interviews and Focus Groups:
 · Gather in-depth insights from employees about their experiences and perspectives on
retention strategies.
 Tools: Zoom, Microsoft Teams, transcription software.
· HR Analytics Software:
 · Analyze HR data to identify trends and patterns related to employee turnover and retention.
 Tools: SAP SuccessFactors, Workday, BambooHR.

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· Statistical Analysis Software:
 Perform detailed statistical analysis to assess the effectiveness of different retention strategies.
 Tools: SPSS, R, Python (pandas, NumPy, SciPy).
· Employee Engagement Platforms:
 Monitor and enhance employee engagement through regular feedback and pulse surveys.
 Tools: Glint, Culture Amp, Qualtrics.
· Predictive Analytics Tools:
 Use machine learning models to predict employee turnover and identify at-risk employees.
 Tools: IBM Watson, SAS, Python (scikit-learn, TensorFlow).
· Data Visualization Tools:
 Create visual representations of data to communicate findings effectively.
 Tools: Tableau, Power BI, Google Data Studio.
· Text Analysis Tools:
 Analyze open-ended survey responses and interview transcripts to extract themes and
sentiments.
 Tools: NVivo, Python (NLTK, spaCy).
· Benchmarking Tools:
 Compare Dezy's retention metrics against industry standards to gauge effectiveness.
 Tools: Gartner Benchmarking, LinkedIn Analytics.
· Project Management Software:
 Coordinate and manage the research project, track progress, and collaborate with team
members.
 Tools: Asana, Trello, Monday.com.

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3.4 Period of Study
The study on employee retention strategies and their effectiveness adopted by Dezy was
conducted over a period of 12 months, from January 2023 to December 2023.
3.5 Limitations of the Study
· Sample Size: Limited number of participants may not fully represent the entire workforce.
· Response Bias: Employees may provide socially desirable answers rather than honest feedback.
· Data Accuracy: Reliance on self-reported data may affect the reliability of the findings.
· Time Constraints: The 12-month period may not capture long-term retention trends.
· External Factors: Uncontrollable external factors (e.g., economic conditions) may influence
retention rates.
3.6 Utility of Research
· Informed Decision-Making: Provides data-driven insights to enhance retention strategies.
· Policy Development: Assists in creating effective HR policies tailored to employee needs.
· Cost Reduction: Helps lower turnover-related costs by identifying and addressing key retention
factors.
· Employee Satisfaction: Improves overall employee satisfaction and engagement.
· Competitive Advantage: Strengthens Dezy’s ability to attract and retain top talent in the industry.

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CHAPTER 4
DATA ANALYSIS AND INTERPRETATION

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DATA ANALYSIS AND INTERPRETATION
The research done on “The Study Of Employee Retention Strategies And Effectiveness
adopted by Dezy, Bangalore.”for that I select the 50 respondents in Bangalore city and
asked them about 20 question regarding Retention Strategy the questionnaires, which are
filled by the respondents in person.
Table No1:- Age of respondents
Sr. No. Age of
respondents
No. of respondent In Percentage
1 18-30 yrs. 31 62%
2 30-45 yrs. 15 30%
3 45-60 yrs 4 8%
Graph No. 1 :- Age of respondents
INTERPRETATION -
It is observed that 62% of employees are under 18-30 yrs , 30% of employees are under 30-
45 yrs, and 8% of employees are under 45-60 yrs.of age.
SUGGESTION -
The company should give chances to other age group also as the
may be more experienced than age group of 18-30 yrs.

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Table No. 2 : No. of respondents of monthly income:
Sr. No. Income No. of respondent In Percentage
1 5000-10000 3 6%
2 10000-20000 6 12%
3 20000-30000 9 18%
4 Above 30000 32 64%
Graph No. 2 : No. of respondents of monthly income
INTERPRETATION -
It is observed that 6% of employees income is between 5000-10000 , 12% of employees
income is between 10000-20000, 18% of employees income is between 20000-30000 and
64% of employees income is more than 30000
SUGGESTIONS -
The company should provide a good pay scale to retain the employees in company.

37
Table No.3: No. of respondents who faces gender discrimination:
Sr. No. Gender
Discrimination
1 Yes 39 78%
2 No 11 22%
Graph No. 3 : No. of respondents who faces gender discrimination
INTERPRETATION -
It is observed that 78% of employees faces gender discrimination and 22% of employees does
not faces gender discrimination regarding male/female
SUGGESTION -
The company should treat every employee equally so that the employees may not face gender
discrimination.

38
Table No.4: No. of respondents who are satisfied with their jobs:
Graph No. 4 :- No. of respondents who are satisfied with their jobs:
INTERPRETATION -
It is observed that 76% of employees are satisfied with their job and 24% of employees are
not satisfied their job.
SUGGESTION -
The area where the employees are not satisfied should be given Training and Motivation so
that they can also be satisfied.
Sr. No. Satisfied No. of respondent In Percentage
1 Yes 38 76%
2 No 12 24%

39
Table No.5: No.of respondents regarding the staff members behavior:
Graph No. 5 :- Behaviour of Staff Members
INTERPRETATION -
It is observed that 28% of staff members are very helpful , 46% of staff members are helpful
to moderate,4% of staff members are rude and 22% of staff members are upto some extent
SUGGESTIONS -
The companies staff members who are the part of rude area should help their employees and
understand the problem area of their collegues.
Sr. No. Staff Behaviour No. of respondent In Percentage
1 Very Helpful 14 28%
2 Helpful To Moderate 23 46%
3 Rude 2 4%
4 Some Extent 11 22%

40
TableNo 6:. No.of respondents for reasons of attrition rate:
Graph No. 6.:- No.of respondents for reasons of attrition rate
INTERPRETATION –
It is observed that 20% of employees had left the company because of pay-package,18 % of
employees had left the company because of work load,16% of employees had left the
company because of carrer planning 30% of employees had left the company because of
organization culture and 16% of employees had left the organization because of other reason
SUGGESTION - As many employees are leaving the organization because of organization
culture so most attention must be paid to that area as well as other area also.
Sr. No. Attrition Reason No. of
respondent
In
Percentage
1 Pay Package 10 20%
2 Work Load 9 18%
3 Career Planning 8 16%
4 Organization
Culture
15 30%
5 Other 8 16%

41
Table No.7 No.of respondents regarding the employees left in last 3 years:
.
Graph No. 7: No.of respondents regarding the employees left in last 3 years:
INTERPRETATION -
It is observed that 8% of employees who left the company in last 3 yrs is less than 25, 12% is
less than 50.,4% is less than 100 and 76% are more than 250
SUGGESTIONS -
Various activities such as Yoga Training, Motivation should be provided to employees so that
the employees must retain in the company for long period.
Sr. No. Employees left No. of respondent In Percentage
1 Less than 25 4 8%
2 Less than 50 6 12%
3 Less than 100 2 4%
4 More than 250 38 76%

42
Table No.8 No. of respondents regarding the preventive measures taken By Dezy to
retain the
employees:
Graph No. 8:- No. of respondents regarding the preventive measures taken By Dezy to
retain the employees
INTERPRETATION -
It is observed that to retain the employees for long time the company has adopted 20% part of
Training & Development activity,38% part of Pay Package, 12% part of Promotion, and 30%
part of Reward System.
SUGGESTIONS -
The above mentioned Preventive Measures should be taken to retain the employees.
Sr. No. Preventive Measures No. of respondent In Percentage
1 Training and
Development
10 20%
2 Increase Pay-Package 19 38%
3 Promotion 6 12%
4 Reward System 15 30%

43
.
Table No. 9:. No . of respondents about their literacy
Graph No. 9:- No . of respondents about their literacy
INTERPRETATION -
It is observed that the employees in Dezy are 12% Undergraduate, 68% are Graduate, and 20%
are Post graduate
SUGGESTION -
Dezy should give opportunities to Post Graduates persons also.
Sr. No. Employees are No. of respondent In Percentage
1 Undergraduate 6 12%
2 Graduate 34 68%
3 Post Graduate 10 20%

44
Table No. 10: No . of respondents about challenging work :
Sr. No. Employees are No. of respondent In Percentage
1 Undergraduate 6 12%
2 Graduate 34 68%
3 Post Graduate 10 20%
.
Graph No. 10 :- No . of respondents about challenging work
INTERPRETATION -
It is observed from the above that 68% employees work is challenging and 32% employees
work is not challenging
SUGGESTION -
Dezy should provide challenging works to their employees so that the employees get chance to
utilize their skill and knowledge to perform better.

45
Table No. 11: No . of respondents about aspiring young generation :
Graph No. 11:- No . of respondents about aspiring young generation :
INTERPRETATION:
From the above it is observed that Dezy aspires young generation only at 90%.
SUGGESTION:
Dezy should aspire young generation candidates as well as experienced ones also.
Sr. No. Aspire Young
Generation
1 Yes 45 90%
2 No 5 10%

46
Table No. 12: No . of respondents who conducts exit interviews :
Sr. No. Conduct Exit
Interviews
1 Yes 26 52%
2 No 24 48%
Graph No.12:- No . of respondents who conducts exit interviews
INTERPRETATION -
From the above it is observed that the company conducts exit interview but only at 52%.
SUGGESTIONS -
Dezy should conduct exit interviews for every employees to know the reason of leaving the
company.

47
Table No. 13: No . of respondents who thinks which area should be improved :
Graph No.13:- No . of respondents who thinks which area should be improved :
INTERPRETATION -
From the above table it is clear that the area which should be improved for improvement of
employees are 64% of work culture,24% treatment with female employees and 12% other
area.
SUGESSTION -
The area of work culture should be improved in Dezy.
Sr. No. Area needs to be
improved
1 Work Culture 32 64%
2 Treatment with
female employees
12 24%
3 Other 6 12%

48
Table No. 14:. No . of respondents regarding work culture boost confidence :
Graph No. 14:- No . of respondents regarding work culture boost confidence :
INTERPRETATION -
It is observed from the above that 60% employees feels that the work culture is strong and
40% of employees thinks that their work culture is not strong.
SUGGESTION -
Dezy must have familiar work culture so that the employees must work freely and not under
depression.
Sr. No. Work culture boost
confidence
1 Yes 30 60%
2 No 20 40%

49
CHAPTER 5
FINDINGS, RECOMMENDATIONS AND CONCLUSION

50
FINDINGS, RECOMMENDATIONS AND CONCLUSION
5.1 Findings Based on Observations
1) Most of the employees faces gender discrimination.
2) The high rate of reason of attrition is organization culture.
3) Most of the employees thinks that their work is challenging.
5.2 Findings Based on analysis of Data
1) Most of the employees monthly income is above 30000
2) The number of employees working age is between 18-30 yrs. , which is high rate rather
than age group then between 30-60 yrs.
3) More than 250 employees have left the company in last 3 yrs.
4) Most of the employees are graduates.
5.3 General findings
1) Most of the employees are satisfied with their job.
2) The staff members of Dezy are helpful to moderate.
3) Various types of preventive measures are taken to motivate the employees.
4) Dezy is eager to aspire young generation.

51
5.4 Recommendation based on findings
After analyzing the findings, the following recommendation have been prepared.
1) Dezy should provide challenging works to their employees so that the
employees get chance to utilize their skill and knowledge to perform better.
2) The company should give chances to other age group also as they may be more
experienced than age group of 18-30 yrs. The company should provide a good
pay scale to retain the employees in company.
3) The companies staff members who are the part of rude area should help their
employees and understand the problem area of their collegues.
5.5 Suggestions for areas of improvement
Company should focus on following points
1) Dezy must have familiar work culture so that the employees must work freely
and not under depression.
2) The area of work culture should be improved in Dezy.
3) Dezy should conduct exit interviews for every employees to know the reason of
leaving the company.
4) Dezy should aspire young generation candidates as well as experienced ones
also
5.6 Scope for future research
Future research can provide a comprehensive understanding of the multifaceted nature of
employee retention and help organizations like Dezy implement more effective and
sustainable strategies.

52
· Comparative Analysis Across Industries:
 Future research could compare Dezy’s employee retention strategies with those in other
industries to identify industry-specific best practices. This comparative analysis would
highlight unique strategies that can be adopted across different sectors to enhance employee
retention.
· Longitudinal Studies:
 Conducting longitudinal studies to track the long-term effectiveness of Dezy’s retention
strategies would provide insights into their sustainability and impact over time. This approach
would help in understanding the evolving needs and preferences of employees and how
strategies can be adapted accordingly.
· Impact of Technological Advancements:
 Investigating how technological advancements and digital tools can be leveraged to improve
employee retention strategies at Dezy. This includes exploring the role of artificial intelligence,
data analytics, and remote working tools in enhancing employee satisfaction and retention.
· Cultural and Demographic Factors:
 Examining the influence of cultural and demographic factors on the effectiveness of retention
strategies. Understanding how age, gender, ethnicity, and cultural background impact
employee retention can help tailor more inclusive and effective strategies.
· Psychological and Behavioral Insights:
 Utilizing psychological and behavioral theories to gain deeper insights into employee
motivation and satisfaction. Future research could explore how intrinsic and extrinsic
motivational factors influence employee loyalty and commitment to Dezy.
· Employee Feedback and Participation:
 Investigating the role of employee feedback and participation in the development and
implementation of retention strategies. Understanding how involving employees in decision-

53
making processes affects their commitment and satisfaction levels could lead to more effective
retention practices.
· Cost-Benefit Analysis:
 Performing a cost-benefit analysis of the retention strategies employed by Dezy. Future
studies could quantify the financial benefits of reduced turnover rates against the costs
involved in implementing these strategies, providing a clearer picture of their economic
viability.
· Global Expansion and Retention:
 Exploring how Dezy’s retention strategies can be adapted for a global workforce. As
companies expand internationally, understanding the nuances of retaining employees in
different geographic locations becomes crucial.
· Work-Life Balance Initiatives:
 Assessing the impact of work-life balance initiatives on employee retention. Future research
could delve into how flexible working hours, remote work options, and wellness programs
contribute to employee satisfaction and loyalty.
· Impact of Leadership Styles:
 Studying the impact of various leadership styles on employee retention. Research could
explore how transformational, transactional, and other leadership approaches influence
employee engagement and retention rates at Dezy.
· External Economic Factors:
 Analyzing the influence of external economic factors, such as market fluctuations, economic
downturns, and industry trends, on employee retention. Understanding these external
influences can help in developing more resilient retention strategies.

54
5.7 Conclusion
The following conclusions are made from the data collected from the structured
questionnaire.:
1) The company is giving chance to not only to Post Graduates candidates
but also to Graduates and Under Graduated candidates.
2) The monthly income to most of the employees is above 30000 which
seems to be the satisfaction level of the candidates.
3) The company is treating equally with the employees by which many
employees are not facing the problem of gender discrimination.
4) The company is providing challenging work which is very helpful to
grow the employees future further.
5) Most of the employees are satisfied with their job.
6) The healthy work culture of the company boosts the employees
confidence.
7) The staff members are helpful in the organization.

55
REFERENCES
 K.ASHWATHAPPA , Human Resource Management , revised edition combining part
I and II, New Delhi , Published by :P Sharma
 DIPAK KUMAR BHATACHARYA,2ND
Edition Research Methodology New Delhi ,
Published by Anurag Jain
WEBSITES :
 http/www.citehr.com
 http/www.employeeretention.com

59
ANNEXURE
Respected Sir/Madam,
I, Tahseen Naaz student of MBA Human Resource Management from Jain
University. I have been given the dissertation project as curriculum part & my topic is as
follows:-
1)

60
7) Do you face discrimination on the basis of gender at your work place?
a) Yes b) No
8) Is there any biasness in promotion –
a) Yes b) No
9) What is the criterion for holding top position–
a) Male/Female b) Knowledge/Skill
c) Seniority
10) Is your work challenging –
a) Yes b) No
11) Are you satisfied with your job–?
a) Yes b) No
12) Does the healthy work culture of your organization boost your confidence–
a) Yes b) No
13) Do you face any kind of problems being male/female in this organization –
a) Yes b) No
14) Would you like to aspire young generation in your company –
a) Yes b) No
15) How are the staff members/bosses/management–

61
a) Very helpful c) Rude
b) Helpful to moderate d) Some extent
16) Which area at your workplace needs to be improved–
a) Work culture
b) Treatment with female employees
c) Mention if other ………………………………………………
17) Do you conduct exit interview –
a) Yes b) No
18) What are the reasons of attrition employees in your organization during last year–
a) Pay-package b) Work load
c) Career planning
d) Organization culture e ) Others
19) Number of people/employee left in last 3 years –
a) Less than 25 c) Less than 50
b) Less than 100 d) More than 250
20) What preventive measure had been taken–
a) Training & Development c) Increase pay-package
b) Promotion d) Reward system
21) What you would like to suggest retaining employee – If
any ………………………………………………………………………………………………
…………………………………………………………………………………………………
……………………………………………………..
THANK YOU !

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