PROJECT REORT ON
ATTRITION AND EXIT ANALYSIS
MASTERS IN PERSONNEL MANAGEMENT AND INDUSTRIAL RELATIONS
(2009 – 2011)
BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.
UNDER THE SUPPERVISION OF -
ARJUN SINGH YADAV
HUMAN RESOURCE (UP-2)
SUBMITTED BY –
This report is based on my project topic on “ EMPLOYEE
RETENTION TECHNIQUES“ as a part of summer training
in PERSONNEL MANAGEMENT AND INDUSTRIAL
RELATIONS course of study .
This report has been prepared after deeply studying
and collecting data with the help of primary and
secondary data about this project topic .
I hereby declare that information and data provided in
this report are true to best of my knowledge .
NAME – TANUSHREE HELA
There are no sources in the current document.1
S. No. CONTENTS PG. No.
3 EXCUTIVE SUMMARY
5 COMPANY PROFILE
6 CONCEPTUAL FRAMEWORK
7 RESEARCH METHODOLOGY
9 MEASURING SCALE
10 RESULTS AND GRAPHICAL REPRESENTATION
NAME – TANUSHREE HELA
accomplishment of my project topic was possible due to
the cooperation and coordination of different
would like to take this opportunity of expressing my
gratitude towards our my external project guide Mr.
ARJUN SINGH YADAV (HUMAN RESOURCE U.P.-2)
without whose assistance it would not had been
possible for me to be part of BAJAJ ALLIANZ LIFE
INSURANCE COMPANY Ltd.(BALIC) as a summer trainee
and I am also thankful to all the employees of BALIC
especially our guide who provided assistance at each
and every step . I am also thankful to Mr. RITESH
KUMAR (HEAD – H.R. U.P. -2 ) and Mr. RAKESH KUMAR
SINGH (CSR) for their guidance and support .
I am also
thankful to our Head of department Mr. I.L. SINGH for
providing a platform and without help of whom being
part of BALIC as a summer trainee would not had been
possible and also thankful to my internal project guide
Dr. SANDEEP KUMAR for his continuous support and
also like to express my gratitude towards all the survey
respondents who gave their valuable time to respond to
the questions , thus helping to collect the primary raw
data without which survey would not had been possible.
corporate arena is witnessing the rapid growth rate in
attrition , it is undoubted fact that attrition cannot be
completely vanished from the organization but human
resource management is trying its hard to reduce the
attrition rate of their organizations . The degree of
attrition may vary from one industry to another industry
or a corporate house to another but the human
resource management is putting its efforts to
understand the causes of attrition , and reduce the rate
of grievances of their employees to act and emerge as
the organization having lowest rate of attrition . At the
core of their efforts is the realization that the employee
is their most valuable asset and if the organization
witnesses the decrease in manpower than there is well
known fact that there is decrease in the performance of
the organization and also incure financial burden on the
organization to recruit , train , and place new employees
ie; decrease in productivity , efficiency , and
effectiveness of the organization .
The project is
a full – hearted attempt to capture a unique blend of
the possible Causes of Attrition , in the industries ,
corporate houses ,and especially in the insurance sector
. In this process , the number of causes or variables
which directly or indirectly increases the rate of attrition
and leads towards dump of employee’s turnover debt
were sorted out on the basis of those dimensions or
causes a well structured questionnaire was prepared
named “ EMPLOYYEE ATTRITION RATING SCALE” , the
questionnaire had its two parts ie; first part as closed –
form questionnaire which was based on the dimensions
sorted down , consisting of thirteen statements and
second part as open- ended questionnaire which
included suggestions provided by the attired employees
, followed by the process of data collection by two
sources ie; primary source which telephonic interview of
exit employees and by secondary source which included
drawing from the website of BALIC and also by talking
to the existing employees of BALIC to understand the
current problem across the insurance sectors .
The variables which
were identified to understand the causes of attrition and
exit in the fiscal year (2009-2010) in BALIC were the
primary and statistical data provided by BALIC were
divided into four basic areas of UP-2 region which is
based on the basis of -
Tenure basis ,
Monthly work basis .
The division basis
basically includes the four regions of UP-2 ie ; Allahabad
Gorakhpur , and Varanasi . The
departmental basis included all its sales and non-sales
departments which marked attrition rate also including
exits on the tenure and monthly basis .
The variables identified to
understand the causes of attrition are :-
1) Organizational Culture which includes in itself
a) Relationship with colleagues,
c) Flow of communication.
2) Job Satisfaction which includes in itself
a) Work Motivation,
3) Growth and Development which includes
a) Learning and development ,
4) Work –Life balance.
The questionnaire was
thus prepared by keeping these dimensions as basis ,
then followed by the process of data collection with
the help of structured interview and thus data was
recorded in standardized form on the basis of Likert
scale ie; 5-point rating scale ranging from strongly
agree to strongly disagree . The questionnaire was
standardized by using Factor Analysis method and
then in order to draw conclusion the data was
interpreted and analyzed by using systematic
statistical forms and also they are represented with
the help of charts and graphs.
On the flip side BALIC
needs to enhance the policies and advertisement in
rural areas especially in area of Statistical Initiatives ,
enhance skills in their managers through trainings and
developments , also provide positive psychological
contract to their employees and many more .
So all the above variables
for the purpose of survey were properly taken care off
, while the recommendation was also backed by the
attired employees of the organization which will
ideally lead to increase organizational commitment
and reduction in attrition rate , to work more
efficiently on the objective of every organization ie, to
increase productivity , efficiency and effectivity of the
organization with low waste of employee turnover.
BAJAJ ALLIANZ LIFE INSURANCE
LEARNING AND DEVELOPMENT
“ MAKING A DIFFERENCE”
accomplishment of my project was possible due to the cooperation and
coordination of different individuals.
I would like
to take this opportunity of expressing my gratitude towards the mentor
Mr. Arjun Singh Yadav and Mr. Ritesh Kumar without the help of whom
it would not had possible for me to be part of BALIC as a summer
trainee and also who provided their assistance at each and every step.I
am also thankful to Mr. Rakesh Kumar who gave us very important
information about the organization
I am also
thankful to our Head of Department Prof. I.L.Singh who provided us
such platform to be part of BALIC as a summer trainee. I would also like
to express my hearty gratitude towards our Faculty members Prof. A. P.
Singh ,Prof. A. K. Srivastava and Dr. Sandeep Kumar for their continuous
support and guidance without whose special assistance the work would
had been incomplete.
I am also
thankful to all the survey respondents who gave their valuable time to
respond to our questionnaire, thus helping to get the raw data without
which the survey would not had been possible.