CHAPTER I INTRODUCTION AND DESIGN OF THE STUDY

1.1

INTRODUCTION India Textile Industry is one of the leading textile industry in the

world through predominately unorganized industry even a few years back, but the scenario started changing after the economic liberalization in Indian economy in 1991.The opening up of economy gave the much needed trust to the Indian textile industry, which how successfully become one of the largest in the world. Indian textile industry largely depends upon the textile manufacturing and export. It also plays a major role in the economy of the country. India earns about 27% of its total foreign exchange through textile export. Further, the textile industry of India also contributes nearly 14% of the total Industrial production of the country. It also contributes around 3% to the GDP of the country. Indian textile industry is also the largest in the country in terms of employment generation. It not generates jobs in its own industry, but also opens up scopes for the other ancillary sectors. Indian textile industry currently generates employment to more than 35 million people. The Indian textile industry contributes about 14% of industrial production, 4% to
1

countrys gross domestic product (GDP) and 17% to countrys exports earnings. The industry provides direct employment to over 35 million people and is the second largest provider of employment after agriculture. Fabric production rose to 60,996 million sq meters in FY 2011 from 52,665 million sq meters in FY 2007. Production o raw cotton grew to 32.5 million bales in FY 2011 from 28 million bales FY 2007 while production of man-made fabric rose to 1281 million kgs in FY 2011 from 1139 million kgs in FY 2007. Production of yarn grew to 6,233 million kgs in FY 2011 from 5,183 million kgs in FY 2007.India has potential to increase its textile and apparel world tread from the current level of 4.5% to 8% and reach US$ 80 billion by 2020.Export of textile grew to USD 26.8 billion in FY 2010 from USD 17.6 billion in FY 2006. Indias textile trade is dominated by exports with a CAGR of 6.3% during the same period. 1.2 EMPLOYEE RETENTION Employee retention is an important ongoing process in which the organization retains the employees for the maximum period of time or until the completion of the project. It is a continuing employment relationship. Today, organizations find out that balance of power which has shifted from the employer to employees. Excessive turnover is a sign of fundamental problems within the businesses and it is very important to know that how to
2

retain employees in the particular organization. Today textile industry is facing few problems regarding power supplies and major of all is the yarn prices. But this is a fact that they dont give proper salaries and rewards to laborers. Role of human resource practices is very crucial in this regard. Human resource practices can only be applicable to the learning organizations. Employees can be retained and satisfied within those organizations which keep on learning that how to keep their employees satisfaction at the highest level. Apart from this, there is no proper work in the textile industry in the field of human resource management, because top management never realizes the needs and demands of their employees. There are very few textile mills that are practicing the human resource management in its fullest and they are getting maximum benefits from it. To develop a better understanding of this issue, a research has been carried out to know the benefits of the human resource practices employed by these mills and to implement them in other organizations for positive results. To keep employees and keep their satisfaction levels high, any organization needs to implement each of the three Rs of employee retention: respect, recognition, and rewards.

1.3

STATEMENT OF THE PROBLEM Managing attrition does not mean reducing attrition only. It could also

mean bringing down the negative effects of attrition. To do this the organizations should put up appropriate retention and capacity utilization or talent utilization tactics. There are various retention strategies used by the organizations today. The objective is to know how effective it is from the employees perspective and how it is administrated. A high rate of attrition effect the organization in many ways like it leads to more expense, loss of company knowledge, Interruption of customer service, as well as the companys goodwill get effected. Handling the employee retention issues has got a serious attention at all level of management. The problem of employee retention has hit all category of employee equally. Employee retention is one of the major issues faced by any industry. Although several studies are done on the topic, the issue is still disturbing. Even though companies make efforts to control this issue, still it fails to a great extent. This study makes an attempt to figure out what the real problem and effectiveness followed by the knitting industry to retain their human resource. This study is done from the employees prospective.

1.4 1. 2.

OBJECTIVES OF THE STUDY To study the determinants of employee retention strategies. To identify the determinants of employee satisfaction towards Kandhan knits, Tirupur.

3.

To examine the employee retention strategies adopted in Kandhan Knits, Tirupur.

4.

To offer suitable suggestions to improve the retention rate in Kandhan Knits, Tirupur.

1.5 H1

HYPOTHESIS OF THE STUDY : There is no significant relationship between designation of the respondents and level of satisfaction.

H2

There is no significant relationship between age of the respondents and level of satisfaction.

H3

There is no significant relationship between gender of the respondents and level of satisfaction.

H4

There is no significant relationship between educational qualification of the respondents and level of satisfaction.

H5

There is no significant relationship between monthly income of the respondents and level of satisfaction.
5

H6

There is no significant relationship between job position of the respondents and level of satisfaction.

H7

There is no significant relationship between experience of the respondents and level of satisfaction.

H8

There is no significant relationship between retention strategy adopted by the company of the respondents and level of satisfaction.

1.6

RESEARCH METHODOLOGY Research Methodology is a study of systematically solving the

problem. The validity of any research is based on the systematic method of formulating the objectives, data collection and analysis of interpretation. Research Design A Research Design is the arrangement of conditions for collections and analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. Sampling Design A Sample Design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample.
6

Sample Size The Sample size for this study was limited to 200 Sampling Method For this study the researcher adopted the Simple random sampling method. Method of Data Collection The task of data collection begins after a research problem has been defined and the research design plan chalked out. While deciding about the method of data collection to be used for the study, the researcher should keep in mind, the two types of data. viz., primary and secondary.

a) Primary Data The Primary data are those which are collected a fresh and for the first time and these happens to be original in character. For this study, the Primary data were obtained through observation, direct interview and telephone contact with the HR manager.

b) Secondary Data The secondary data are those which have already been collected and analysed by someone else. Various textbooks, journals, magazines, newspapers and websites relating to the study were referred for obtaining the secondary data. Tools and Analysis The collected data were classified into suitable tabular forms for analysis and interpretation. Simple statistical tools like mean, standard deviation, range with minimum and maximum, chi-square test were used. The formulae used for chi-square test furnished as follows. Chi-Square ( 2) Test Chisquare test (2) Degrees of freedom whereas, O E C R = = = = = =

(O E ) 2 E

(R-1) (C-1) observed frequency expected frequency Number of columns Number of rows

1.7

SIGNIFICANCE OF THE STUDY The relevance of this study was to establish that employee retention

has a significant role on job performance. Thus, there is the need to provide career counseling, training, career advancement and development for employees in the Kandhan knits, Tirupur. Furthermore, the study generates interest from the wider perspective of employee retention and is of particular interest to those concerned with job performance in Accra Brewery Limited. The findings of this study will help to provide a foundational basis for the work in the area of developing competitive pay and benefits package for the employees of Kandhan knits (developing retention strategies that will have positive effect on job performance). The study will help employers to implement programmes such as flexible working arrangements and manager training initiatives to reduce turnover.

1.8 1.

LIMITATIONS OF THE STUDY The findings of the study are subjected to bias and prejudice of the respondents.

2.

Area of the study is confined to the employees in Kandhan Knits, Tirupur only.

3. 4.

Time factor can be considered as a main limitation. The findings of the study are solely based on the information provided by the respondents.

5.

The accuracy of findings is limited by the accuracy of statistical tools used for analysis.

10

1.9

CHAPTER SCHEME The dissertation has been arranged in the following order:

Chapter 1:

Introduction and Design of the Study This chapter deals with the introduction to textile industry, employee retention strategy, statement of the problem, objectives of the study, hypothesis, research methodology, scope of the study, limitations of the study.

Chapter II: Chapter III:

Review of literature An overview of textile industry, retention strategy and company profile Data Analysis and Interpretation Summary of findings, Suggestions and Conclusion This chapter summarizes the findings, few suggestions and conclusion of the study.

Chapter IV: Chapter V:

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CHAPTER II REVIEW OF LITERATURE

Yilmaz (2007)1 in his paper has presented an agent-based simulation study that explores the effects of team behavior on the efficiency and effectiveness of software development organizations that pursue incremental and iterative processes. The conceptual model underlying the simulation framework is based on the fundamental tenets of organization theory. The organization-theoretic perspective to simulation modeling of software processes entails characterizing the components of organizational design, as well as types of team cooperation mechanisms that are associated with selected team archetypes. It presents the simulation framework Team-RUP and uses it to examine the extent of the impact of turbulence (i.e., employee turnover) on the effectiveness of software development under various team archetypes. It has been observed that asynchronous team cooperation models were less predictable than synchronous models. Also, teams that utilize bottom-up coordination strategies were more adept at responding to change.

Levent Yilmaz, Exploring the impact of employee turnover on the effectiveness of software development team archetypes, SpringSim '07 Proceedings of the 2007 spring simulation multiconference - Volume 2.

12

McConnell (2007)2 has stated that turnover is a relatively simple and easily described concept. However, considerable confusion often results when addressing turnover because of differences in how it is defined; that is, what is counted, how it is counted, and how the turnover rates are expressed. Turnover is also costly, although not enough attention is paid to its cost because so much of it is indirect, and thus, not readily visible. There are a variety of causes of turnover, some which can be corrected and some of which cannot be avoided. Reducing or otherwise controlling the turnover requires continuing management attention to its causes and constant recognition of what can and should be controlled and what cannot be controlled. Ongoing attention to turnover is an essential part of the department manager's role. Shaikh (2007)3 in his paper noted that India has emerged as the top 2007 destination for global offshore outsourcing. According to the latest NASSCOM McKinsey Survey, IT & ITES would add 7% to India's GDP by 2010 along with the creation of 8.8 million new jobs, and the number of professionals employed in IT & ITES sector is estimated at 1,045,000 as of March 2005. However, among the most complex problem faced by the IT &
2 3

McConnell CR, Analysis and control of employee turnover, Health Care Manag (Frederick). 2007 Jan-Mar;26(1):84-94. Mohsin R. Shaikh, The War for Talent: Strategies for Employee Retention in the BPO Industry, Management and Labour Studies August 2007 vol. 32 no. 3 335-346.

13

ITES industry is labour attrition. According to analysts, employee attrition rate in this sector varys between 20% and 40%, while it is around 15 percent in top firms. If these are any indications, the outsourcing industry is likely to face a shortage of 262,000 professionals by 2010. There is virtually a war among the organisations for acquiring talent, which is scarce. In this context the current paper explores what organisations are doing to retain employees. It also explores out the reasons why employees leave the organisation and tries to evolve strategies for retention of scarce IT talent in the fiercely competitive labour market. Gberevbie (2008)4 in his study empirically examines the relationship between employee retention strategies and organizational performance. Using a sample size of 120 respondents in a leading beverage establishment in Nigeria, the results shows that organizations with adequate employee retention strategies in form of enhanced and regular monthly Salary package, workers participation in decision-making on issues affecting them, policies that favours job security and provision of incentives that bothers on staff family welfare retains and enhances employee performance. Implication of the results for practice is that any organization that fails to put in place adequate employee retention strategies is not likely to retain competent and
4

DE Gberevbie, Employee Retention Strategies And Organizational Performance, IFE PsychologIA Vol. 16 (2) 2008: pp. 131-152.

14

motivated workforce in its employment and hence experience frequent labour turnover and poor organizational performance. Anantharaja (2009)5 has stated that employee turnover reflects a company's internal strengths and weaknesses. New hires need to be constantly added, further costs in training them, getting them aligned to the company culture, etc.,all pose a challenge. Organizations also face difficulties in retaining the remaining employees as well as attracting potential employees. High attrition rates also lead to a chronic or systemic cycle. All this has a significant impact on the strength of a company in managing their business in a competitive environment. This study is conducted to find out the main causes which increase the employee turnover in BPO companies and to find out the way to control attrition. The work is descriptive in nature. This study was carried out in BPO companies in and around Bangalore. In this study, the opinion of 110 employees was taken for the analysis. The tool used for collecting the data was a structured questionnaire.

Ammu Anantharaja, Causes of Attrition in Bpo Companies: Study of a Mid-Size Organization in India, The IUP Journal of Management Research, IJMR20911.

15

Thaden et al., (2010)6 have examined the factors related to employee attrition in a US State Social Service Organization (SSSO) that administers welfare, food stamps, and Medicaid. Semi-structured telephone interviews were conducted with 132 former SSSO employees. Qualitative analyses found that informants reported insufficient resources to do their jobs, inconsistent or inadequate training experiences, negative perceptions of the organizational culture and management (e.g. minimal recognition and inadequate support for professional growth or innovation), and typically positive perceptions of co-worker relationships during their tenures at the SSSO. To examine the relative impact of these factors and background variables (age, race, office location, and position) on duration of employment, a multiple linear regression was conducted. Age, office location, position, and perceptions of organizational culture significantly predicted duration of employment (F(7,123) = 24.19, p < .001, R
2

= .56).

Findings suggest that organizational culture may be an important change target for retaining workers in SSSOs. Thite et al., (2010)7 in their empirical study of four large Indian call centers have examined specific aspects of HR practice for their effect on
6

Emily Thaden, Lynette Jacobs-Priebe and Scot Evans, Understanding Attrition and Predicting Employment Durations of Former Staff in a Public Social Service Organization, Journal of Social Work October 2010 vol. 10 no. 4, pp. 407-435 Thite, Mohan; Russell, Bob, Work organization, human resource practices and employee retention in Indian call centers, Asia Pacific journal of human resources, 2010.

16

retention in the very different context of Indian labor markets. The relationship between HR practices and the realities of the call-centre labor processes operating within a buoyant labor market that offers plentiful job alternatives are explored. The findings suggest that the contribution of HR to employee retention is necessary but not sufficient for retention in the context of Indian call centers. Ankita et al., (2011)8 in their research aims to identify the root causes of attrition and retention in BPOs, analyzing the level of employee motivation, satisfaction and involvement, generate a model for maximizing sustenance of employees in the organization and come up with concrete recommendations, which will eventually be valuable to the organizations to retain their employees for a long term. Anis et al., (2011)9 in their paper discussed with employee retention is a critical aspect for every company regarding competitive advantage because human resource is the most critical asset of todays modern world. Other resources can be arranged effortlessly but to get efficient and retain talented human capital is the most difficult task. Therefore, organizations are now
8

Ankita Srivastava Yogesh Tiwari and Hradesh Kumar, Attrition and retention of employees in BPO sector, Int.J.Comp.Tech.Appl,Vol 2 (6), pp. 3056-3065, 2011. Atif Anis, Ijaz-Ur-Rehman, Abdul Nasir and Nadeem Safwan, Employee retention relationship to training and development: A compensation perspective, African Journal of Business Management Vol. 5(7), pp. 2679-2685, 4 April 2011

17

more focused towards employee retention. Organizations use different HR techniques for retention. Our main emphasis is on compensation packages after employee training and development practices for retention purposes. To determine how a relaxed work environment will help in the retention of employees. Results reveal that retaining employees long term, after their training and development has been completed, without increasing their compensations is not as favorable as when compensation is increased to reflect the completion ability to apply their field related skills and capabilities. Eriksen (2011)10 in his study has explored different mechanisms that influence how employee turnover affects organizational performance in an empirical analysis of 2,921 Danish manufacturing firms during 1995-2001. The key findings are that loss of firm-specific human capital from employee turnover reduces organizational performance at a declining rate but that substitution of labor resources for capital resources moderates the negative turnover effects. These findings contrast with recent single-firm studies of service sector organizations that find an inverted U-shaped relationship, and

10

Eriksen, Bo H., Growing Pains: How Employee Turnover Affects Firm Performance (August 30, 2011). Atlanta Competitive Advantage Conference 2010 Paper. Available at SSRN: http://ssrn.com/ abstract=1535969.

18

suggest that for manufacturing firms human capital losses and technology choice dominate any positive sorting effects. Venkatramaraju and Suresh Babu (2011)11 are mention that attrition is the biggest problem faced by BPOs on 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. Retention of key employees is critical to the long-term health and success of any organization. However, there are some common reasons that especially cause people to leave. Surveys have listed night shifts, money, inability to handle various types of stress, monotonous work; company policies, lack of career growth, problems with those in senior positions etc., as some of the most common reasons listed by BPO employees, as reasons for quitting jobs. This paper discusses about the Human Resources department which must address these issues, and states that along with the management need to evolve strategies to retain employees at all levels.

11

Dr. D. Venkatramaraju and R. Suresh Babu, Retention In BPO Industry - A Key Challenge Of Employee Resourcing, IJMMR, Volume 2, Issue 2 (February, 2011).

19

Yang et al., (2011)12 have stated that in the past decades, high employee turnover has been an important issue for many hoteliers and a focus of academic interest. Although hoteliers often use retention techniques to retain capable employees, the turnover rate remains high. The purpose of this study was to explore determinants of management-level employee turnover and to identify existing practices in human resource retention strategies. In this study, interviews with Taiwan hotel workers revealed that more than 80% of the respondents had resigned from a job to pursue career advancement while 70% had experienced recruitment propositions from other hotels. Another factor of turnover may be that relating to differences between expectations and reality. This study indicates that managers need to understand more fully the needs of subordinates when providing career advice, and relevant training programs should be introduced to enhance career opportunities. Malik et al., (2011)13 stated that all over the globe organizations have realized that skilled labor and technocrat people exploit the organizations for better incentives. Reducing employees turnover intention is a very pivotal
12

13

Jen-Te Yang, Chin-Sheng Wan, Yi-Jui Fu, Qualitative examination of employee turnover and retention strategies in international tourist hotels in Taiwan, International Journal of Hospitality Management (October 2011). Muhammad Ehsan Malik, Rizwan Qaiser Danish, Yasin Munir, Employees Turnover Intentions: Is this HR Failure or Employees better employment opportunity?, 2011 International Conference on Innovation, Management and Service IPEDR vol.14, IACSIT Press, Singapore

20

challenge for todays HR managers. To analyze employees turnover intention and its impact on organizational outcomes 277 questionnaires were distributed in hundred organizations from 5 major industries i.e. Manufacturing, Higher Education, Banking, Telecommunication and Hospitality industry of Pakistan. Two hundred complete surveys were received at a response rate of 72%. This study provides favorable results and directions for HR directors to reduce employees turnover intentions. Future directions and major limitations were also discussed in this study. Sinha and Sinha (2012)14 in their study explore to identify the main factors of retention management strategies in organizations. The organizations taken into consideration are two heavy engineering manufacturers based in India. The data was collected from 100 employees holding middle managerial positions in the two organizations. The factor analysis of the component retention management strategies led to the extraction of 3 factors each from both the organizations. The results indicate that these factors have substantial roles to play in making employees stay and how at middle managerial level different aspects are valued while deciding upon the retention strategies in similar contexts (i.e. sector).
14

Chandranshu Sinha and Ruchi Sinha, Factors Affecting Employee Retention: A Comparative Analysis of two Organizations from Heavy Engineering Industry, European Journal of Business and Management, Vol 4, No.3, 2012. Pp.145-162.

21

Gialuisi (2012)15 in his study addresses the question, what factors influence voluntary employee turnover in small businesses and how do owner-managers retain key employees? The study states that voluntary turnover of key employees have a number of adverse consequences for small businesses, including, but not limited to, lowered productivity and disrupted business continuity. A lack of financial resources to retain staff and limited long term career prospects, amongst other factors, were identified as common reasons for actual and intended turnover amongst key employees. In contrast, flat management structures and egalitarian work environments were some of the small business characteristics claimed to enhance employee retention. Owner-managers reported on a suite of remuneration based (e.g. providing pay rises and paid training) and positive emotion based (e.g. maintaining pleasant group dynamics) retention strategies. Some of the findings in the current study have been widely discussed in the literature whilst others cast light on relatively under-explored causes and consequences of voluntary employee turnover and employee retention strategies. Implications of the findings for management practice are explained. Limitations of the current study and their implications for future research as well as other areas that warrant further research are also
15

Gialuisi, Olivia, "An Exploratory Investigation into Voluntary Employee Turnover and Retention Practices in the Small Business Sector" (2012). Theses : Honours. Paper 40. http://ro.ecu.edu.au/theses_hons/40

22

discussed. Nwokocha and Iheriohanma (2012)16 in their study explores the emerging trends in employee retention strategies in a globalizing economy, with a focus on Nigeria. The paper argues that globalization has enhanced the mobility of labor, and has also accelerated the rate of employee turnover in organizations in Nigeria. The paper identifies some of the reasons for turnover to include inequity in the compensation packages of organizations, employees dissatisfaction and autocratic managerial pattern in most organizations in Nigeria. It further identifies the effects of turnover to include disruption in production, cost of training new employees, the recruitment and selection cost and knowledge lost. As a panacea to minimize the rate of employee turnover and catch up with the current demands of global economic needs and organizational performance, the study proposes that organizations in Nigeria should adopt critical sustainable retention trends such as establishing a strategic plan, involving employees in decisionmaking process, initiating personalized compensation plan, installing mechanisms for career planning, training and development and building flexible work programs especially for critical knowledge - employees. These
16

Izidor Nwokocha, E. B. J. Iheriohanma, Emerging Trends in Employee Retention Strategies in a Globalizing Economy: Nigeria in Focus, Asian Social Science, Vol.8, No.10, 2012, pp.198-207.

23

will help to retain core employees that will competitively drive the production wheel in the organizations in Nigeria in this era of globalization. Andrea and Sequeira (2012)17 stated that retention of employees is an important function of the HRM. Unless there is a deliberate and serious effort from the management towards this direction, the competitors in the industry are likely to attract and snatch the talent already nurtured in the company over a period of time. Careful strategies for crafting and implementing employee retention strategies are a skill and should be given top priority by the management. This paper discusses the issues and solutions to address this problem with a case study. The results of the study indicate that retention strategies should be carefully worked out for different groups and levels. Enugala (2012)18 discussed with the success of any business unit depends on employee performance. Everyone from top to the bottom level employees role is significant in functioning of the organization. The skills of the employees are to be retained for the development of the organization. In small and medium enterprises the skill of employees is the key human
17

Lewis, Andrea and Sequeira, A. H., Effectiveness of Employee Retention Strategies in Industry (October 27, 2012). Available at SSRN: http://ssrn.com/abstract=2167719 or http://dx.doi.org/10.2139/ssrn.2167719. Manohar Manu Enugala, Innovative strategies for employee retention in small and medium enterprises, TIJ's Research Journal of Social Science & Management, Vol 1, No 9, 2012.

18

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capital to run the units efficiently. Small and medium enterprises have been favoured basically to create the employment in an economy with abundant skilled and unskilled labour. In addition a low capital requirement, given an appropriate market environment, is believed to stimulate growth of numerous indigenous enterprises with wide regional dispersal. This helps to promote balanced growth, more equitable distribution, and promotion of national heritage, development or artistic tastes as well as diversification of industrial structure, which often leads to increased utilisation of national resources. If the talent of the employees is retained and rewarded to satisfy, the problem of employee turnover can be reduced and it helps to cater the market needs without any hurdle in producing and delivering the goods. The present paper focuses on emphasizing the innovative strategies for the retention of employees in micro and small enterprises. Zachariah and Roopa (2012)19 in their paper analyzed that employee Retention is one of the key challenges faced by IT Organizations in India. It has been observed that there is a great demand for skilled IT professionals within India and abroad, which has resulted in technocrats leaving the Organization in search of greener pastures. The IT Organizations in todays
19

Minu Zachariah and Dr. Roopa T.N, A Study On Employee Retention Factors Influencing It Professionals Of Indian It Companies And Multinational Companies In India, Interdisciplinary Journal Of Contemporary Research In Business, Vol.4, No.7, 2012, pp.449-466.

25

context cannot afford to lose their critical workforce due to uncertainty of changing economy, increasing competition and scarcity of skilled workforce as this would in turn affect their bottom lines drastically. The present study therefore not only aims at examining the reasons for employees leaving the Organization, staying back factors, their attitude towards work, work relationships and their prioritised basic expectations from the Organization but also aims at finding out if there is any significant difference in the response among IT professionals of Indian IT and Multinational Companies with respect to the above factors. The outcome of the study is expected to help the HR Managers of these Organizations in minimizing the attrition rate by developing effective retention strategies specific to their Organization. Mahalakshmi and Rao (2012)20 in their paper discussed with employee retention matters, as, organizational issues such as training time and investment, costly candidate search etc., are involved. Hence, failing to retain a key employee is a costly proposition for any organization. Various estimates suggest that losing a middle manager in most organizations, translates to a loss of up to five times his salary. This might be worse for Manufacturing Industry companies where fresh talent is intensively trained
20

R. Mahalakshmi, Ch. Bala Nageswara Rao, a study on effective employee retention strategies, International Journal of Logistics & Supply Chain Management Perspectives, Vol 1, No 1 (2012).

26

and inducted and then further groomed to the successive stages. In this scenario, the loss of a middle manager can often prove dear. Employee retention is an important aspect in almost all cases; it is senseless to allow good people to leave the organization. Employee Retention Strategies helps the organizations to provide effective employee communication to improve commitment and enhance workforce support for key corporate initiatives. It also provides full support for the marketing-communication efforts to build customer loyalty by distinguishing and positioning the organizations unique products and services in the market. Gayathri et al., (2012)21 presented that 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. Retention is more important than hiring. The purpose of this paper is to identify the major factors that influence the employee retention in BPO sector. Primary data was collected by the researcher with the help of structured questionnaire administered to the middle level employees in selected top two BPOs in Bangalore. 132 middle level employees from those organizations constitute the sample size. To test the reliability of the
21

R.Gayathri, G.Sivaraman and R.Kamalambal, Employee Retention Strategies In BPOs An Empirical Investigation, Interdisciplinary Journal Of Contemporary Research In Business, Vol.3, No.12, 2012, pp. 572-583.

27

data collected, the researcher used cronbachs Alpha test and the value is 0.735 which shows that the data has satisfactory reliability and validity. Using Statistical Package for Social Science (SPSS) some of the relevant tests were carried out like factor analysis, and multiple regression. Based on these analysis some of the relevant findings were derived, that will be useful, relevant and significant to the present Indian scenario. Rehman (2012)22 in his paper observed that it has been observed that employee turnover, especially amongst public sector organizations, is becoming a problem which costs a lot of money, efforts and energy. This problem might be a major obstacle for HR professionals in formulation of their HR policies. This study aims to identify the main turnover factors in some public sector regulatory authorities and to suggest some employee retention strategies within the Pakistani context. Data was collected by a questionnaire distributed amongst 568 employees, developed on the basis of extensive literature review. The importance of having a retention strategy, which is based on a well articulated human resources management system, was stressed.

22

Safdar Rehman, Employee Turnover and Retention Strategies: An Empirical Study of Public Sector Organizations of Pakistan, Global Journal of Management and Business Research, Vol.12, No.1, 2012, pp.83-89.

28

Lissy (2012)23 in her paper observed that employee Turnover is a major challenge faced by the companies globally. Employee Turnover is predominant not only in IT sector, but in other sectors as well. This study has focused in IT sector. Employees are the assets of any organization. Organizations are striving to retain their talents by implementing effective retention strategies. High Employee Turnover would subsequently have an impact on productivity and sustainability of the organization. There are two types of Employee Turnover functional and dysfunctional. The focus of this study was dysfunctional turnover. Dysfunctional turnover is the concern of HR managers. Results of the study showed that Retention Strategies has an impact on Employee Turnover. Other variables such as Welfare Benefits, Personal Satisfaction and Organization Culture, which are said to be associated with the Employee Turnover were also investigated as a part of this study. Dasam Ragupathi (2013)24 presented that employee Retention refers to the techniques employed by the management to help the employees stay with the organization for a longer period of time. Employee retention strategies go a long way in motivating the employees so that they stick to the
23

T.A, Lissy. (2012) Study On Impact of Employee Retention Strategies on Employee Turnover in IT Industry An Exploratory Study in Bangalore. Other thesis, Christ University. Dasam Ragupathi, The Employee Retention Practices of MNC`S in Hyderabad, Research Journal of Management Sciences, Vol. 2(4), 21-24, April (2013)

24

29

organization for the maximum time and contribute effectively. Sincere efforts must be taken to ensure growth and learning for the employees in their current assignments and for them to enjoy their work. Employee retention has become a major concern for corporates in the current scenario. Individuals once being trained have a tendency to move to other organizations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. Whenever a talented employee expresses his willingness to move on, it is the responsibility of the management and the human resource team to intervene immediately and find out the exact reasons leading to the decision. This paper is focuses on the emerging employee retention practices in Hyderabad MNCs. Dwyer (2013)25 in his paper suggested that employee retention can be improved by providing employees with the following: (1) a sense of purpose, (2) a sense of direction, (3) access to information, (4) clear organizational values, (5) feedback, (6) development and growth, and (7) good working conditions. However, average employee retention has been decreasing fewer employees are staying in their jobs for 2-5 years, while more individuals are staying in their jobs for 20 years or more, according to
25

Dwyer, K. (2013, April 11). Developing strategies and tactics to increase employee retention. Hoteliers [Online]. Retrieved April 22, 2013, from www.4hoteliers.com.

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the Australian Bureau of Statistics. These statistics also show that turnover levels are different according to the industry, which suggests that employee retention issues may be common to an industry, rather than being common across industries. Retention strategies should differ across industries and should be incorporated with overall organizational strategy. One study by the AHRI found a wide difference of opinion regarding who in the organization is responsible for employee retention, which may make creating a retention strategy difficult.

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CHAPTER III AN OVERVIEW OF TEXTILE INDUSTRY, RETENTION STRATEGY AND COMPANY PROFILE

3.1

TEXTILE INDUSTRY The Indian textile industry is one of the largest in the world with a

massive raw material and textiles manufacturing base. Our economy is largely dependent on the textile manufacturing and trade in addition to other major industries. About 27% of the foreign exchange earnings are on account of export of textiles and clothing alone. The textiles and clothing sector contributes about 14% to the industrial production and 3% to the gross domestic product of the country. Around 8% of the total excise revenue collection is contributed by the textile industry. So much so, the textile industry accounts for as large as 21% of the total employment generated in the economy. Around 35 million people are directly employed in the textile manufacturing activities. Indirect employment including the manpower engaged in agricultural based raw-material production like cotton and related trade and handling could be stated to be around another 60 million.

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A textile is the largest single industry in India (and amongst the biggest in the world), accounting for about 20% of the total industrial production. It provides direct employment to around 20 million people. Textile and clothing exports account for one-third of the total value of exports from the country. There are 1,227 textile mills with a spinning capacity of about 29 million spindles. While yarn is mostly produced in the mills, fabrics are produced in the power loom and handloom sectors as well. The Indian textile industry continues to be predominantly based on cotton, with about 65% of raw materials consumed being cotton. The yearly output of cotton cloth was about 12.8 billion m (about 42 billion ft). The manufacture of jute products (1.1 million metric tons) ranks next in importance to cotton weaving. Textile is one of Indias oldest industries and has a formidable presence in the national economy inasmuch as it contributes to about 14 per cent of manufacturing value-addition, accounts for around one-third of our gross export earnings and provides gainful employment to millions of people. They include cotton and jute growers, artisans and weavers who are engaged in the organized as well as decentralized and household sectors spread across the entire country.

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INDIAN TEXTILE INDUSTRY STRUCTURE AND GROWTH Indias textile industry is one of the economys largest. In 2000/01, the textile and garment industries accounted for about 4 percent of GDP, 14 percent of industrial output, 18 percent of industrial employment, and 27 percent of export earnings (Hashim). Indias textile industry is also significant in a global context, ranking second to China in the production of both cotton yarn and fabric and fifth in the production of synthetic fibers and yarns. In contrast to other major textile-producing countries, mostly smallscale, nonintegrated spinning, weaving, cloth finishing, and apparel enterprises, many of which use outdated technology, characterize Indias textile sector. Some, mostly larger, firms operate in the organized sector where firms must comply with numerous government labor and tax regulations. Most firms, however, operate in the small-scale unorganized sector where regulations are less stringent and more easily evaded. The unique structure of the Indian textile industry is due to the legacy of tax, labor, and other regulatory policies that have favored small-scale, labor-intensive enterprises, while discriminating against larger scale, more capital-intensive operations. The structure is also due to the historical
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orientation towards meeting the needs of Indias predominately low-income domestic consumers, rather than the world market. Policy reforms, which began in the 1980s and continued into the 1990s, have led to significant gains in technical efficiency and international competitiveness, particularly in the spinning sector. However, broad scope remains for additional reforms that could enhance the efficiency and competitiveness of Indias weaving, fabric finishing, and apparel sectors. Structure of Indias Textile Industry Unlike other major textile-producing countries, Indias textile industry is comprised mostly of small-scale, nonintegrated spinning, weaving, finishing, and apparel-making enterprises. This unique industry structure is primarily a legacy of government policies that have promoted laborintensive, small-scale operations and discriminated against larger scale firms: Composite Mills. Relatively large-scale mills that integrate spinning, weaving and, sometimes, fabric finishing are common in other major textileproducing countries. In India, however, these types of mills now account for about only 3 percent of output in the textile sector. About 276 composite mills are now operating in India, most owned by the public sector and many deemed financially sick.
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Spinning. Spinning is the process of converting cotton or manmade fiber into yarn to be used for weaving and knitting. Largely due to deregulation beginning in the mid-1980s, spinning is the most consolidated and technically efficient sector in Indias textile industry. Average plant size remains small, however, and technology outdated, relative to other major producers. In 2002/03, Indias spinning sector consisted of about 1,146 small-scale independent firms and 1,599 larger scale independent units. Weaving and Knitting. Weaving and knitting converts cotton, manmade, or blended yarns into woven or knitted fabrics. Indias weaving and knitting sector remains highly fragmented, small-scale, and laborintensive. This sector consists of about 3.9 million handlooms, 380,000 powerloom enterprises that operate about 1.7 million looms, and just 137,000 looms in the various composite mills. Powerlooms are small firms, with an average loom capacity of four to five owned by independent entrepreneurs or weavers. Modern shuttle less looms account for less than 1 percent of loom capacity. Fabric Finishing. Fabric finishing (also referred to as processing), which includes dyeing, printing, and other cloth preparation prior to the manufacture of clothing, is also dominated by a large number of

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independent, small scale enterprises. Overall, about 2,300 processors are operating in India, including about 2,100 independent units and 200 units that are integrated with spinning, weaving or knitting units. Clothing. Apparel is produced by about 77,000 small-scale units classified as domestic manufacturers, manufacturer exporters and fabricators (subcontractors). GROWTH OF TEXTILE INDUSTRY India has already completed more than 50 years of its independence. The analysis of the growth pattern of different segment of the industry during the last five decades of post independence era reveals that the growth of the industry during the first two decades after the independence had been gradual, though lower and growth had been considerably slower during the third decade. The growth thereafter picked up significantly during the fourth decade in each and every segment of the industry. The peak level of its growth has however been reached during the fifth decade i.e., the last ten years and more particularly in the 90s. The Textile Policy of 1985 and Economic Policy of 1991 focusing in the direction of liberalisation of economy and trade had in fact accelerated the growth in 1990s. The spinning

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spearheaded the growth during this period and man-made fibre industry in the organised sector and decentralised weaving sector. ROLE OF INDIAN TEXTILE INDUSTRY IN THE ECONOMY Textile industry plays a significant role in the economy. The Indian textile industry is one of the largest and most important sectors in the economy in terms of output, foreign exchange earnings and employment in India. It contributes 20 per cent of industrial production, 9 per cent of excise collections, 18 per cent of employment in industrial sector, nearly 20 per cent to the countrys total export earnings and 4 per cent ton the GDP. The sector employs nearly 35 million people and is the second highest employer in the country. The textile sector also has a direct link with the rural economy and performance of major fibr crops and crafts such as cotton, wool, silk, handicrafts and handlooms, which employ millions of farmers and crafts persons in rural and semi-urban areas. It has been estimated that one out of every six households in the country depends directly or indirectly on this sector. India has several advantages in the textile sector, including abundant availability of raw material and labour. It is the second largest player in the world cotton trade. It has the largest cotton acreage, of about nine million
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hectares and is the third largest producer of cotton fibre in the world. It ranks fourth in terms of staple fibre production and fourth in polyester yarn production. The textile industry is also labour intensive, thus India has an advantage. The key advantages of the Indian industry are: India is the third largest producer of cotton with the largest area under cotton cultivation in the world. It has an edge in low cost cotton sourcing compared to other countries. Average wage rates in India are 50-60 per cent lower than that in developed countries, thus enabling India to benefit from global outsourcing trends in labour intensive businesses such as garments and home textiles. Design and fashion capabilities are key strengths that will enable Indian players to strengthen their relationships with global retailers and score over their Chinese competitors. Production facilities are available across the textile value chain, from spinning to garments manufacturing. The industry is investing in technology and increasing its capacities which should prove a major asset in the years to come.

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Large Indian players such as Arvind Mills, Welspun India, Alok Industries and Raymonds have established themselves as 'quality producers' in the global market. This recognition would further enable India to leverage its position among global retailers.

India has gathered experience in terms of working with global brands and this should benefit Indian vendors.

INDIAN TEXTILE INDUSTRY SWOT ANALYSIS Strength India has rich resources of raw materials of textile industry. It is one of the largest producers of cotton in the world and is also rich in resources of fibres like polyester, silk, viscose etc. India is rich in highly trained manpower. The country has a huge advantage due to lower wage rates. Because of low labor rates the manufacturing cost in textile automatically comes down to very reasonable rates. India is highly competitive in spinning sector and has presence in almost all processes of the value chain.

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Indian garment industry is very diverse in size, manufacturing facility, type of apparel produced, quantity and quality of output, cost, and requirement for fabric etc. It comprises suppliers of ready-made garments for both domestic or exports markets.

Weakness Knitted garments manufacturing has remained as an extremely fragmented industry. Global players would prefer to source their entire requirement from two or three vendors and the Indian garment units find it difficult to meet the capacity requirements. Industry still plagued with some historical regulations such as knitted garments still remaining as a SSI domain. Labour force giving low productivity as compared to other competing countries. Technology obsolescence despite measures such as TUFS. Low bargaining power in a customer-ruled market. India seriously lacks in trade pact memberships, which leads to restricted access to the other major markets. Indian labour laws are relatively unfavorable to the trades and there is an urgent need for labour reforms in India.
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Opportunity Low per-capita domestic consumption of textile indicating significant potential growth. Domestic market extremely sensitive to fashion fads and this has resulted in the development of a responsive garment industry. India's global share is just 3% while China controls about 15%. In post-2005, China is expected to capture 43% of global textile trade. Companies need to concentrate on new product developments. Increased use of CAD to develop designing capabilities and for developing greater options. Threats Competition in post-2005 is not just in exports, but is also likely within the country due to cheaper imports of goods of higher quality at lower costs. Standards such as SA-8000 or WARP have resulted in increased pressure on companies for improvement of their working practices Alternative competitive advantages would continue to be a barrier

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3.2

EMPLOYEE RETENTION Effective employee retention is a systematic effort by employers to

create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their diverse needs. A strong retention strategy becomes a powerful recruitment tool. Retention of key employees is critical to the long-term health and success of any organization. It is a known fact that retaining the best employees ensures customer satisfaction, increased product sales, satisfied colleagues and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning. Employee retention matters as organizational issues such as training time and investment; lost knowledge; insecure employees and a costly candidate search are involved. Hence failing to retain a key employee is a costly proposition for an organization. Various estimates suggest that losing a middle manager in most organizations costs up to five times of his salary. Intelligent employers always realize the importance of retaining the best talent. Retaining talent has never been so important in the Indian scenario; however, things have changed in recent years. In prominent Indian
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metros at least, there is no dearth of opportunities for the best in the business, or even for the second or the third best. Retention of key employees and treating attrition troubles has never been so important to companies. In an intensely competitive environment, where HR managers are poaching from each other, organizations can either hold on to their employees tight or lose them to competition. For gone are the days, when employees would stick to an employer for years for want of a better choice. Now, opportunities abound. It is a fact that, retention of key employees is critical to the long-term health and success of any organization. The performance of employees is often linked directly to quality work, customer satisfaction, and increased product sales and even to the image of a company. Whereas the same is often indirectly linked to, satisfied colleagues and reporting staff, effective succession planning and deeply embedded organisational knowledge and learning. Employee retention matters, as, organizational issues such as training time and investment, costly candidate search etc., are involved. Hence, failing to retain a key employee is a costly proposition for any organization.
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Various estimates suggest that losing a middle manager in most organizations, translates to a loss of up to five times his salary. Employee Retention Strategies helps organizations provide effective employee communication to improve commitment and enhance workforce support for key corporate initiatives. The Importance of Retaining Employees The challenge of keeping employees: Its changing face has stumped managers and business owners alike. How do manage this challenge and build a workplace that employees want to remain with and outsiders want to be hired. Successful managers and business owners ask themselves these and other questions because simply put employee retention matters: High turnover often leaves customers and employees in the lurch, departing employees take a great deal of knowledge with them. This lack of continuity makes it hard to meet the organizations goals and serve customers well. Replacing employees costs money. The cost of replacing an employee is estimated upto twice the individuals annual salary (or higher for some positions, such as middle management), and this doesnt even include the cost of lost knowledge.
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Recruiting employees consumes a great deal of time and effort, much of it futile. Not the only one out there strive for qualified employees and job searchers make decisions based on more than the sum of salary and benefits.

Bringing employees upto speed takes even more time. And when short-staffed, often need to put in extra time to get the work done.

The Three Rs of Employee Retention To keep employees and keep satisfaction high need to implement each of the three Rs of employee retention: respect, recognition, and rewards. Respect is esteem, special regard, or particular consideration given to people. As the pyramid shows, respect is the foundation of keeping the employees. Recognition and rewards will have little effect if dont respect employees. Recognition is defined as special notice or attention and the act of perceiving clearly. Many problems with retention and morale occur because management is not paying attention to peoples needs and reactions. Rewards are the extra perks you offer beyond the basics of respect and recognition that make it worth peoples while to work hard, to care, to

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go beyond the call of duty. While rewards represent the smallest portion of the retention equation, they are still an important one. 10 Factors That Affect Employee Retention Most managers understand the importance of employee retention and its impact on the overall health and vitality of an organization. The importance of retaining top organizational talent will only increase over the coming years as the massive cohort of baby boomers begin to reach retirement age making it easy for younger employees to find work. In a previous article it identified some useful tips to help improve employee retention in the organization. Given the importance of employee retention, have compiled another list of 10 important factors that can affect employee retention in the organization. Shorten the feedback loop Do not wait for an annual performance evaluation to come due to give feedback on how an employee is performing. Most team members enjoy frequent feedback about how they are performing. Shortening the feedback loop will help to keep performance levels high and will reinforce positive behavior. Feedback does not necessarily need to be scheduled or highly

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structured; simply stopping by a team member's desk and letting them know they are doing a good job on a current project can do wonders for morale and help to increase retention. Offer a competitive compensation package Any team member wants to feel that he or she is being paid appropriately and fairly for the work he or she does. Be sure to research what other companies and organizations are offering in terms of salary and benefits. It is also important to research what the regional and national compensation averages are for that particular position. Be sure that compensation package is not competitive, team members will find this out and look for employers who are willing to offer more competitive compensation packages. Balance work and personal life Family is incredibly important to team members. When work begins to put a significant strain on one's family no amount of money will keep an employee around. Stress the importance of balancing work and one's personal life. Small gestures such as allowing a team member to take an extended lunch once a week to watch his son's baseball game will likely be repaid with loyalty and extended employment with an organization.

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Beware of burnout Staff adequately to reduce the amount of unwanted overtime a team member must work. Some employees enjoy the extra money that accompanies overtime hours, while others would rather spend their time with their families or doing other activities they enjoy. Burnout can be a leading cause of turnover. Recognize the warning signs and give employees a break when they need it. Provide opportunities for growth and development Offer opportunities for team members to acquire new skills and knowledge useful to the organization. If an employee appears to be bored or burned out in a current position offer to train this individual in another facet of the organization where he or she would be a good fit. Nobody wants to feel stuck in their position will no possibility for advancement or new opportunities. The ability to provide input and be taken seriously Everybody has opinions and ideas, some are better than others. However, every team member wants to feel that their input is welcome and will be taken seriously without ridicule or condescension. Some of the
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greatest ideas can come from the most unlikely of places and people. Creating a culture where input is welcome from all level of the organizational chart will help the organization grow and encourage employee retention. Management must take the time to get to know team members It's not a big surprise that one of the greatest complaints that employees express in exit interviews is a feeling that management didn't know they existed. Nobody wants to feel like just another spoke in a big wheel. Managers are very busy - everybody is busy, but it is crucial that managers and supervisors take the time get to know the team members who work under them. Learn and remember a team member's name, what skills and talents they bring to the table, and what their business interests are. The time spent by management getting to know team members is well invested and can eliminate the headaches caused by having to continually hire and retrain new employees. Provide the tools and training an employee needs to succeed Nothing can be more frustrating to an employee than a lack of training or the proper tools to successfully complete his or her duties. Wouldn't try to build a house without a hammer, so should an office job be any different in
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the work. Providing a team member with the tools and training she needs to be successful shows a commitment and investment in that employee and will encourage the team member to stay with the organization. Make use of a team member's talents, skills, and abilities All team members have knowledge, skills and abilities that aren't directly related to their job description, but are still useful to an organization. Utilizing a team member's talents in areas other than their current position will indicate to an employee that management appreciates and recognizes all that an employee has to offer to the organization. This can also provide work variety and helps to break up the everyday grind of work. Never threaten a team member's job or income While threatening an employee with termination or demotion might seem like a surefire way to get the results needed from him or her, doing so will likely cause the employee to leave the organization. Put their self in the employee's shoes, what is the first thing would do if the job was threatened. Odds are you would probably update the resume and start checking for open job postings expecting the worst. If a team member's performance is not what had hoped it would be, work with that team member on ways to improve his performance, saving termination only as a last resort.
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Take some time and seriously evaluate what the organization is doing to encourage a high retention workforce. Having a seasoned and well trained workforce can deliver a competitive advantage that is difficult to replicate. The best part is most of the efforts to retain the employees come free or with little charge and offer huge returns on a manger's investment in time and resources. At The Rainmaker Group committed to helping organizations achieve a high retention workforce where team members truly enjoy coming to work each day. They can help the organization develop the strategies and programs to make this happen. Give us a shout today; we'd love to hear from you! EMPLOYEE RECOGNITION INCREASES RETENTION It seems that now more than ever employee recognition is limited at best in many organizations. Unfortunately many managers don't understand the importance of recognizing a team member's hard work and a job well done. Many might even ask why they should recognize their employees when they are "just doing their job."

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The truth is that recognizing employees for their hard work is one of the least expensive and easiest ways to improve the level of employee retention in the organization. The return on investment for a manager's time and limited expenses can be incredible. Recognizing an employee's performance reinforces positive behavior and encourages additional positive behavior. If a team member feels that he or she is appreciated they will be much more likely to repeat their behaviors in the future and even put out more effort than before. When a business leader understands the power of recognizing his or her employees the culture of an organization reacts to this recognition and moves in a positive direction helping to retain more employees. Employee recognition can be as simple or as extravagant as one desire. The following is a short list of simple ways to recognize team members for a job well done and improve retention in the organization. A simple "thank you" or "nice job" given in regular frequency can significantly boost team morale. Often times a team member will greatly appreciate the time you spent to find him at his desk and deliver the message in person.

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Send a thank you card or e-card. Also photocopy the thank you and document the reason for the recognition in the employee's file. Let the employee know you did this - it will let her know that her hard work will not be forgotten.

Movie tickets, gift certificates, or an engraved gift are excellent rewards for an employee who has excelled or put in the extra effort to make a project happen.

Recognize the team member's contribution in front of members of management. This can reduce the tendency for employees to feel that their supervisors take all the credit for their hard work.

Recognize loyalty and exceeding expectations. Mention the team member's hire anniversary, large contract won, or surpassing of a sales goal in the company newsletter or at a staff meeting.

RETENTION GROWTH

STRATEGIES

HELP

TO

DRIVE

REVENUE

Employee satisfaction is essential to any effective employee retention strategy - any good HR manager knows that. However, few managers think of the impact that employee satisfaction has on their customers and ultimately company profits. One can assume that happier, more productive

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employees will make more sales, treat customers better and ultimately make more money for the company, but few companies have analyzed this assumption to the extent that Sears, Roebuck and Company has. Sears has put this common assumption to the numbers test and the results are intriguing to say the very least. 1992 was the worst year on record for Sears, losing almost 4 billion dollars on over 52 billion dollars in retail sales. The early and mid 1990s were truly trying times for the retail giant and tested the will and resolve of managers and employees alike. During this time the company was in near shambles, morale was low, revenues were suffering, and the bottom line was hemorrhaging red ink. This was in stark contrast to nearly a century of stellar results that Sears had comfortably enjoyed. For Sears, something needed to be done and fast. Sears began their turnaround by identifying three key objectives: Creating a compelling place to work, a compelling place to shop, and lastly creating a compelling place to invest. One of the tools used to establish these objectives was the employee-customer-profit chain. The employeecustomer-profit chain is essentially a flow chart that diagrams revenue creation starting with employee attitudes and satisfaction, followed by its

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effect on customer satisfaction, and ultimately the effect on revenue and bottom line profit generation. One thing Sears realized it needed to do was exert a greater effort focusing on the customer. This is often times easier said than done for many organizations. However Sears took an innovative approach to increasing customer focus. Based on the employee-customer-profit chain, it realized that it could not better focus on the customer without first focusing on its employees. For Sears, 70% of its workforce was part-time status and turnover among its part-time workforce had become alarmingly high. Sears suspected that low morale and poor employee attitudes towards the company were to blame. Sears began a rigorous process of measuring employee attitudes and satisfaction via a 70 question employee survey. The results of this survey were then juxtaposed to customer satisfaction surveys and ultimately compared to revenue and profit trends for the company. The correlations drawn from the data were greater than Sears could have ever imagined. Undoubtedly Sears expected to see some positive correlation between employee and customer satisfaction and ultimately revenue and profit generation; however they were amazed to see just how great an impact
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employee satisfaction levels had on the bottom line. The data revealed that for each five point improvement on the employee attitude scale, there was a subsequent 1.3% improvement in customer satisfaction, and a 0.5% increase in revenue growth. A 0.5% increase in revenue might sound miniscule, however when it is based on revenues of over 50 billion dollars it adds up quickly and significantly. For Sears this would equate to a 250 million dollar increase in revenues a year! This revenue increase does not require investments into advertising, new facilities, or improved operations, only an investment into the satisfaction and happiness of employees. There are also cost savings that can be attributed to improved levels of employee satisfaction. It should come as no surprise that happy employees stay in their jobs longer than unhappy employees. By focusing on increasing employee satisfaction Sears was able to concurrently increase revenues and reduce the costs associated with employee turnover. Sears was also able to determine that employees with greater levels of satisfaction and a favorable attitude towards the company were more likely to speak positively about the company and recommend shopping there to friends and family members.

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By increasing employee satisfaction Sears was able to generate free word of mouth advertising spread by its employees, thus in a way reducing the reliance on paid advertising to generate revenue. Sears realized the importance of its employees and their levels of satisfaction and made it a corporate goal to increase levels of employee satisfaction throughout the company. Sears feels that employee satisfaction levels are so important to the company's health and vitality that it treats attitude and satisfaction numbers the same as "hard" financial numbers. Sears is so committed to these numbers that it has them audited by an accounting team to ensure validity and reliability just as it does with all of its internal financial measures. For Sears its turnaround did not take place overnight. It took several years of hard work and dedication from managers and employees at all levels. Improving levels of employee satisfaction was not the sole contributing factor to Sears' remarkable turnaround. However, it is fair to assume that without the focus on the employee as a base to better focus on the customer the turnaround at Sears would not have been as quick or amazing as it was.

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As business leaders should all pay careful attention to the approach that Sears took to improving its bottom line. The urge to drastically cut costs through outsourcing, layoffs, reducing benefits, and streamlining operations might well be overly complex solutions to a relatively simple problem. In lieu of cost cutting initiatives to preserve profit margins, a customer focused approach might be a better solution. As we can learn from Sears focusing on the customer ultimately begins by focusing on the employees who serve the customer. Give it a shot, employee, customers and ultimately shareholders will thank for it.

Employee Retention Strategies for Reducing Employee Turnover Costs At The Rainmaker Group we are committed to helping the organization Maximize Possibility by identifying and retaining top performers to achieve a high retention and high performance workforce. It understands that time is money to the organization. Every minute of every day that the employee retention problems persist the organization is losing valuable time, energy, and resources. With the use of the powerful tools at our disposal, our employee retention experts will get to know the team and organizational culture better

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than you ever could have imagined. By doing so we can get down to the real causes of employee turnover in the organization and develop an employee retention program that is right for the team. Our employee retention programs deliver results. Our clients always see a sizable return on investment in the form of improved profitability, reduced employee turnover, and enhanced employee morale. Stop unwanted employee turnover dead in its tracks and get back to doing what you do best: growing and leading the organization. 3.3 COMPANY PROFILE Kandhan knits is a vertically integrated One Star Export House specializing in manufacturing and exporting of T-shirts, Sweat Shirts, Pyjamas and Night wear for men, women and children. Incorporated in the year 2003 it was run by a professional and enterprising management. Kandhan Knits exports quality knit wears to different provinces across Europe. A Highly competitive entity with strengths in print work and embroidery, Kandhan Knits employs 500 managerial and skilled labours and produces 1,50,000 pieces of knitwear per month. An 8.5 USD million worth

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company, Kandhan Knits is furnished with imported high-tech machinery and is endorsed with the ISO 9000:2001 certification. MANAGEMENT Two enterprising businessmen with close to four decades of combined experience in textile industry manage Kandhan Knits. Mr.P.Kanakaraj and Mr.P.Dhanapal hold key positions as partner and CEO of the company respectively. Equipping the best technologies and infrastructural facilities and continuously upgrading the quality standards, the management is taking Kandhan Knits to new heights of quality and recognition. VISION With the vision To become a premier league player in the global apparel industry, Kandhan Knits offers its clients high quality knitwear to their specifications. Delivering the products within the scheduled time without compromising on quality helps Kandhan Knits gain the confidence and appreciation of clients across the Europe.

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INFRASTRUCTURE Kandhan Knits spread over 1, 00,000 square feet of excellent infrastructure; Kandhan Knits manufactures excellent quality Knitwear that is well received across numerous European countries. The systematically planned manufacturing unit enables Kandhan Knits with optimum production capacity and quality outputs. The production process strives continually to be innovative and creative to bring novelty in fabrics with latest printing and embroidery techniques. Kandhan Knits has dedicated product development and garment design teams for each product group and in some cases for individual customers. MACHINERY The most modern knitting, printing and embroidery machines furnish the production facility of Kandhan Knits. Imported from renowned manufactures, these machines facilitate the company to provide clients their precise knitwear requirements with the requisite quality criteria. The 400 Sewing machines, 25 knitting machines, Compactors, 6 Embroidery machines, 8 Printing machines, 10 Flat knit machines, 2 spreading machines(Gerber), Sequins, Carding Embroidery machines and

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full electronic jacquard wrapper machines allow Kandhan Knits to produce 1,50,000 pieces of knitwear per month. PRODUCTS A Certified quality export house, Kandhan Knits manufactures and exports extensive knitwear for Men, Women and Children. Using 100% quality cotton, the product range of Kandhan Knits include: T Shirts & Polo Shirts Sweat Shirts Casual Wear Work Wear Pyjamas Beach Sets Leggings Night Dresses

The products are the highest quality standards and conform to the specific requirements of each client.

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PROCESS There are three processes to be carries out in the company. The processes are as follows: Fabric Production Embellishments Garment Production FABRIC PRODUCTION A well-known entity for knitted fabrics Kandhan Knits carries out the entire process of knitting to finishing in-house. For woven fabrics Kandhan Knits has strategic relationship with prominent mills both in Turkey and overseas. Kandhan Knits has a technical research and development team to find the latest trends in the market. Team members work on the latest available techniques in the fiber, yarn, knitting, dyeing and finishing sectors and find the best efficient ways for the applications in-house. Kandhan Knits provides its customers the best available fabrics that satisfy their needs by maintaining a good physical and color performance. Also with the restrictions the company applies in using certain dyes and the treatment facilities, its fabric is harmless to skin and the environment.
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EMBELLISHMENTS Chemicals and materials that use in the embellishment processes are selected carefully to maintain durability of the products. Kandhan Knits adds value to the process with a wide variety of embellishment techniques and designs such as placement and frequency printing, embroidery and badges as adding fashionable value to the garment is imperative for the apparel business. The chemicals that used at Kandhan Knits do not have risk to health nor the environment during their manufacture, use or disposal. The client gets benefit from the latest washing and garment techniques that Kandhan Knits provides through well-equipped and experienced partner companies. Having in-house facilities for printing and embroidery enables the company with faster response to its customers. Kandhan Knits either provides graphic design resources to its clients or they may send their own art work for development. GARMENT PRODUCTION With the modern purpose built factories, Kandhan Knits aims to satisfy its customer by assuring that the products and services meet the contractual requirements of quality and safety and that those products are

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delivered on time. All levels of production are monitored for prevention of faults rather than detection, starting from raw materials to finished goods which are ready for dispatch. The companys contract with TUV-Sud lab ensures both quality and safety standards are consistently met. The biggest asset of Kandhan Knits is the skills and attributes of its highly motivated employees. The company supports this with continuous training, correct tools and equipments to complete the job accurately in a healthy and safety environment which is second to none. Kandhan Knits believes that commitment at all levels to getting it right first time is essential to the successful implementation of the policies. Each operator is set with individual standards to work and inline quality control monitors each operation against these agreed standards. QUALITY Using state of the art technology for every process, Kandhan Knits applies internationally defined knitwear production processes at its facility. An ISO 9000:2001 certified company, quality procedures at Kandhan Knits cover manufacturing, packing & storing and delivery of the finished goods. The quality monitoring processes in place are recognized to be of industry leader standard with the strongest emphasis being on prevention rather than
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cure. The results of the stringent and ever improving procedure has resulted in low Return Manufacturer [RTM] rate at below 0.5% target with very high Acceptable Quality Level [AQL] pass rates. Quality tests are done exclusively by only TUV sub lad to get precise report on the fabric. Tests are performed as per buyer requirements such as ISO, ASTM[American Society For Testing and Materials] etc.., Working with TQM[Total Quality Management] principles Kandhan Knits equips each of its personnel with the knowledge and resources required to successfully contribute towards the on-going search for excellence. PATRONS The list of satisfies clients is a testimony to Kandhan Knits commitment towards customer satisfaction. The repeat orders and continual assignments for the existing clients emphasize the dedication and professionalism of Kandhan Knits. Catering to some of the most well-known brands across Europe, the companys clients include as follows: GEMO FRANCE MONOPRIX FRANCE OKAIDI FRANCE

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 BONMARCHE UK TESCO UK DEBENHAMS UK ATLANTIC POLAND TEMA TURKEY S.OLIVER GERMANY

HUMAN RESOURCE DEPARTMENT The man is ultimate resources of the organization because they think, speck, so that utilization of this resource is very critical. Every success of origination is depending on efficient and effective man power. HR starts when a man enters in the organization and its end, when he leaves the organization. HR deals with the human dimension. Success or failure of an organization depends on the effective coordination of the resources such as money, material, machinery and men. Among these, the role and operation of men is the most complex. All the activities of an organization are initiated and completed by the persons who make up the organization. Therefore, people are the most significant resources of any organization. HRM is

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known by different names Personal management, personal administration, man power management. CONTRIBUTION OF HRM TO ORGANIZATION 1. 2. 3. Helping the organization to search its goal Employing the skills and the activities of the workforce efficiently Providing the organization with well trained and well-motivated employee 4. 5. 6. 7. Increasing to the fullest the employees job satisfaction Developing and maintaining quality of work life Communication Helping to other department and function HRM includes the very Interesting phenomena that is HRD. Human resource development (HRD) is phenomenal for the manufacturing and service industry. HRD deals with up gradation of skills for labours and executives, planning and allocation of work, monitoring and assessment of performance. One of the most important tasks is upgrading the skills and knowledge of the human resource from time to time in tandem with the development of technology and trade.

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HRM IN TEXTILE INDUSTRY Textile is industry oriented field where lots of processes are there to carry out raw material\fibers to finished garment. In this we have required technical skillful and motivated peoples. For textile, a little bit differences in the scope, approach in HR concept, because here peoples think differently, expect differently. In textile, environment is different as compare to other origination or industry, here more interaction to be carryout around 80% manager spend time in handling of human resources. A very common problem always exist in every textile oriented that is conflict ( grievance) in intra department or in worker and management, so this HR(HRM) play as a tool to resoles this problem efficiently .HRM increase the communication

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,coordination and involvement so that chances of misunderstanding will be minimum. Even in organizations with educated and experienced staff, due to the lack of cooperation on part of the management, the department cannot carry out its functions. EMPLOYEE DETAILS IN KANDHAN KNITS Total number of employees = 500 Male employees Female employees = 327 = 173

S.NO 1 2 3 4 5 6 7 8 9

DESIGNATION MANAGING PARTNER CEO MERCHANDISERS EDP FINANCE DEPARTMENT HRM DEPARTMENT DOCUMENTATION PURCHASE ALL OTHER EMPLOYEES

TOTAL MEMBERS 1 1 66 2 8 9 4 3 406

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TOTAL = 500

CHAPTER IV DATA ANALYSIS AND INTERPRETATION

4.1 INTRODUCTION In this chapter, an attempt has been made to identify the employee retention in knitting industry with special reference to Kandhan knits, Tirupur. For this purpose, a field survey method was employed to collect first hand information from 200 sample respondents. The respondents have been chosen randomly in different department of the company. The data thus collected were arranged into simple tabular form. The level of satisfaction towards job by the selected sample respondents is considered as a dependent variable. The Independent variables selected for the study are Designation, Age, Gender, Educational Qualification, Monthly Income, Job position, Experience in the company and opinion towards retention strategy adopted by the company.

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The data were analyzed by using simple statistical tools like Percentage, Average, Two-way tables and Chi-Square test. The discussions of the analysis are given below.

4.2 CHI-SQUARE ANALYSIS DESIGNATION OF THE RESPONDENTS AND LEVEL OF SATISFACTION An attempt has been made to know about the designation of the respondents and level of satisfaction towards job. For the purpose of the study, the designation has been classified into two categories namely; supervisor and workers. The sample consists of 24 (12.0%) respondents are supervisors and 176 (88.0%) respondents are workers. The distribution of sample respondents according to the designation of the respondents and level of satisfaction is shown in the following table. TABLE NO. 4.1 DESIGNATION AND LEVEL OF SATISFACTION S. Designation No. 1 Supervisors 2 Workers Total No. of % Respondents 24 12.0 176 88.0 200 100.0 Ave Rage 52.1 48.0 Range Min Max 42 59 24 63 S.D 5.4 7.0

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It could be surmised from the above table that the level of satisfaction of the supervisors towards job ranged between 42 and 59 with an average of 52.1 and the level of satisfaction of the workers ranged between 24 and 63 with an average of 48.0. From the analysis, it is identified that maximum level of satisfaction towards job is attained by the supervisors. With a view to find the degree of association between designation of the respondents and the level of satisfaction, a two-way table was prepared and it is exhibited in the following table. TABLE NO. 4.2 DESIGNATION AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. No. 1 2 Designation Supervisor Workers Total Level of satisfaction Low Medium High 5 5 14 (20.8) (20.8) (58.3) 46 86 44 (26.1) (48.9) (25.0) 51 91 58 Total 24 176 200

It could be identified from the table that the percentage of high level of satisfaction towards job was the highest (58.3%) among supervisors and the same was the lowest (25.0%) among workers. The percentage of medium level of satisfaction was the highest (48.9%) among workers and the lowest (20.8%) among supervisors. On the other hand, the percentage of low level
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of satisfaction was the highest (26.1%) among workers and the lowest (20.8%) among supervisors. In order to find out the relationship between designation of the respondents and level of satisfaction, a hypothesis was framed and analysed with the chi-square test. The result of chi-square test is shown in the following table.

H0

There is no significant relationship between designation of the respondents and level of satisfaction.

H1

There is a significant relationship between designation of the respondents and level of satisfaction. TABLE NO. 4.3

DESIGNATION AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Designatio n Calculated 2 Table Value Value 11.972 5.991 D.F 2 Remarks Significant at 5% level

It is highlighted from the above analysis that the calculated chi-square value is greater than the table value and it is significant at 5 percent level. Hence, the hypothesis, designation of the respondents and level of

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satisfaction are not associated does not hold good. It is concluded from the analysis that there is a close significant relationship between designation of the respondents and level of satisfaction towards job. AGE AND LEVEL OF SATISFACTION An attempt has been made to know about age of the respondents and their level of satisfaction towards job. For the purpose of this study, age group of the respondents has was studied under three heads viz., under 25 years, 25-35 years and above 35 years. The sample consists of 81 (40.5%) respondents upto 25 years, 98 (49.0%) respondents between 25-35 years and 21 (10.5%) respondents aged above 35 years. The distribution of sample respondents according to the age of the respondents and the level of satisfaction is shown in the following table. TABLE NO. 4.4 AGE AND LEVEL OF SATISFACTION S. No. of Age No. Respondents 1. Under 25 years 81 2. 25 to 35 years 98 3. Above 35 years 21 Total 200 % 40.5 49.0 10.5 100 Ave rage 47.3 49.1 49.2 Range Min Max 24 63 30 62 29 58 S.D 7.3 6.5 7.4

It could be surmised from the above table that the level of satisfaction of the respondents towards job with the age group under 25 years ranged between 24 and 63 with an average of 47.3. The level of satisfaction of the
76

respondents with the age group between 25 and 35 years ranged between 30 and 62 with an average of 49.1. On the other hand, the level of satisfaction of the respondents with the age group of above 35 years ranged between 29 and 58 with an average of 49.2. From the analysis, it is inferred that the maximum level of satisfaction towards job is perceived by the respondents with the age group of above 35 years. With a view to find the degree of association between age of the respondents and the level of satisfaction, a two-way table was prepared and it is exhibited in the following table. TABLE NO. 4.5 AGE AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. No. 1. 2. 3. Age group Under 25 years 25 to 35 years Above 35 years Total Level of satisfaction Low Medium High 26 35 20 (32.1) (43.2) (24.7) 20 48 30 (20.4) (49.0) (30.6) 5 8 8 (23.8) (38.1) (38.1) 51 91 58 Total 81 98 21 200

It could be inferred from the table that the high level of satisfaction towards job was the highest (38.1%) among the respondents aged above 35 years and the same was the lowest (24.7%) among the respondents aged less

77

than 25 years. The percentage of medium level of satisfaction of the respondents was the highest (49.0%) among the respondents aged between 25 and 35 years and the lowest (38.1%) among the respondents aged above 35. On the other hand, the percentage of low level of satisfaction of the respondents was the highest (32.1%) among the respondents aged under 25 years and the lowest (20.4%) among the respondents aged between 25 and 35 years. In order to find out the relationship between age of the respondents and level of satisfaction, a hypothesis was framed and analysed with the help of chi-square test. following table. H0 : There is no significant relationship between age of the respondents and level of satisfaction. H1 : There is a significant relationship between age of the respondents and level of satisfaction. TABLE NO. 4.6 AGE AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Age Calculated 2 Value 4.216 Table Value 9.488 D.F 4 Remarks Not Significant The results of the chi-square test are shown in the

78

It is divulged from the above analysis that the calculated chi-square value is lesser than the table value and it is not significant. Hence, the hypothesis, age of the respondents and level of satisfaction are not associated holds good. It is concluded from the analysis that there is no relationship between age of the respondents and level of satisfaction towards job. GENDER AND LEVEL OF SATISFACTION An attempt has been made to know about the gender of the respondents and level of satisfaction towards job. For the purpose of this study, gender has been classified into two categories viz., male and female. The sample consists of 133 (66.5%) male respondents and 67 (33.5%) female respondents. The distribution of sample respondents according to their gender and level of satisfaction is shown in the following table. TABLE NO. 4.7 GENDER AND LEVEL OF SATISFACTION S. Gender No. 1 Male 2 Female Total No. of % Respondents 133 66.5 67 33.5 200 100.0 Ave Rage 48.7 47.7 Range Min Max 24 62 30 63 S.D 7.0 7.0

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It could be observed from the above table that the level of satisfaction towards job by male respondents ranged between 24 and 62with an average of 48.7 and the level of satisfaction perceived by female employees ranged between 30 and 63 with an average of 47.7. From the above analysis, it is concluded that the maximum level of satisfaction is perceived by the male respondents. With a view to find the degree of association between gender of the respondents and the level of satisfaction, a two-way table was prepared and it is shown in the following table. TABLE NO. 4.8 GENDER AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. No. 1 2 Gender Male Female Total Level of satisfaction Low Medium High 26 67 40 (19.5) (50.4) (30.1) 25 24 18 (37.3) (35.8) (26.9) 51 91 58 Total 133 67 200

It could be noted from the table that the percentage of high level of satisfaction towards job was the highest (30.1%) among male respondents and the same was the lowest (26.9%) among female respondents. The percentage of medium level of satisfaction was the highest (50.4%) among

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male respondents and the same was the lowest (35.8%) among female respondents. On the other hand, the percentage of low level of satisfaction was the highest (37.3%) among female respondents and the lowest (19.5%) among male respondents. In order to find out the relationship between gender and level of satisfaction, a hypothesis was framed and analysed with the help of chisquare test. The results of the chi-square test are shown in the following table. H0 : There is no significant relationship between gender of the respondents and level of satisfaction. H1 : There is a significant relationship between gender of the respondents and level of satisfaction. TABLE NO. 4.9 GENDER AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Gender Calculated 2 Value 7.747 Table Value 5.991 D.F 2 Remarks Significant at 5% level

It is observed from the above analysis that the calculated chi-square value is greater than the table value and it is significant at 5% level. Hence,

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the hypothesis, gender of the respondents and level of satisfaction are not associated does not hold good. It is concluded from the analysis that there is a close significant relationship between gender of the respondents and level of satisfaction towards job. EDUCATIONAL SATISFACTION An attempt has been made to know about the educational qualification and level of satisfaction towards job. For the purpose of this study, educational qualification has been classified into three categories namely illiterate, school level and college level. The sample consists of 64 (32.0%) respondents are illiterate, 102 (51.0%) respondents are educated till school level and 34 (17.0%) respondents are educated till college level. The distribution of sample respondents according to the educational qualification of the respondents and level of satisfaction is shown in the following table. TABLE NO. 4.10 EDUCATIONAL QUALIFICATION AND LEVEL OF SATISFACTION Range S. Educational No. of Ave % S.D No. Qualification Respondents rage Min Max 1. Illiterate 64 32.0 47.4 24 62 7.6 2. School level 102 51.0 47.9 29 63 6.8 3. College level 34 17.0 51.6 42 60 5.3 Total 200 100
82

QUALIFICATION

AND

LEVEL

OF

It could be discerned from the above table that the level of satisfaction towards job among illiterate employees ranged between 24 and 62 with an average of 47.4. The level of satisfaction of the respondents with school level education ranged between 29 and 63 with an average of 47.9. Finally, the level of satisfaction of the respondents with college level education ranged between 42 and 60 with an average of 51.6. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by the respondents with college level education. With a view to find the degree of association between the educational qualification and level of satisfaction, a two-way table was prepared and it is exhibited in the following table. TABLE NO. 4.11 EDUCATIONAL QUALIFICATION AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. Educational No. Qualification 1. Illiterate 2. 3. School level College level Total Level of satisfaction Low Medium High 17 29 18 (26.6) (45.3) (28.1) 29 50 23 (28.4) (49.0) (22.5) 5 12 17 (14.7) (35.3) (50.0) 51 91 58 Total 64 102 34 200

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It could be observed from the table that the percentage of high level of satisfaction towards job was the highest (50.0%) among the respondents with college level education and the same was the lowest (22.5%) among the respondents with school level education. The percentage of medium level of satisfaction was the highest (49.0%) among the respondents with school level education and the lowest (35.3%) among the respondents with college level education. On the other hand, the percentage of low level of satisfaction was the highest (28.4) among the respondents with school level education and the lowest (14.7%) among the respondents with college level education. In order to find out the relationship between educational qualification and level of satisfaction, a hypothesis was framed and analysed with the help of chi-square test. The result of chi-square test is shown in the following table. H0 : There is no significant relationship between educational qualification of the respondents and level of satisfaction. H1 : There is a significant relationship between educational qualification of the respondents and level of satisfaction.

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TABLE NO. 4.12 EDUCATIONAL QUALIFICATION AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Calculated Factor Table Value D.F Remarks 2 Value Educational Significant at 5% Qualificatio 9.633 9.488 4 level n It is clear from the above analysis that the calculated chi-square value is greater than the table value and it is significant at 5 percent level. Hence, the hypothesis, educational qualification of the respondents and level of satisfaction are not associated does not hold good. It is concluded from the analysis that there is a close significant relationship between educational qualification and level of satisfaction towards job. MONTHLY INCOME AND LEVEL OF SATISFACTION An attempt has been made to know about the monthly income of the respondents and level of satisfaction towards job. For the purpose of this study, monthly income has been studied under three groups viz., below Rs.10000, Rs.10001-15000, and above Rs.15000. The sample consists of 73 (36.5%) respondents earn below Rs.10000 per month, 68 (34.0%) respondents earn between Rs.10001 and 15000 per month and 59 (29.5%) respondents earn above Rs. 15000. The distribution of sample respondents

85

according to the monthly income of the respondents and their level of satisfaction towards job are shown in the following table. TABLE NO. 4.13 MONTHLY INCOME AND LEVEL OF SATISFACTION S. Monthly income No. 1. Below Rs.10000 2. Rs.10001-15000 3. Above Rs.15000 Total No. of Respondents 73 68 59 200 % 36.5 34.0 29.5 100 Ave rage 47.1 48.4 49.8 Range S.D Min Max 24 63 6.8 31 62 6.4 29 62 7.6

It could be explained from the above table that the level of satisfaction towards job of the respondents earn monthly income below Rs.10000 ranged between 24 and 63 with an average of 47.1. The level of satisfaction of the respondents earn their monthly income between Rs.10001-15000 ranged between 31 and 62 with an average of 48.4. Finally, the level of satisfaction of the employees earn monthly income as above Rs.15000 per month ranged between 29 and 62 with an average of 49.8. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents earn monthly income level as above Rs.15000. With a view to find the degree of association between the monthly income of the respondents and the level of satisfaction, a two-way table was prepared and it is exhibited in the following table.

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TABLE NO. 4.14 MONTHLY INCOME AND LEVEL OF SATISFACTION (TWOWAY TABLE) S. No. 1. 2. 3. Monthly income Below Rs.10000 Rs.10001-15000 Above Rs.15000 Total Level of satisfaction Low Medium High 22 36 15 (30.1) (49.3) (20.5) 17 32 19 (25.0) (47.1) (27.9) 12 23 24 (20.3) (39.0) (40.7) 51 91 58 Total 73 68 59 200

It could be stated from the above table that the percentage of high level of the respondents towards job was the highest (40.7%) among the respondents earn above Rs.15000 as monthly income and the same was the lowest (20.5%) among the respondents earn below Rs.10000. The percentage of medium level of satisfaction was the highest (49.3%) among the respondents earn below Rs.10000 and the lowest (39.0%) among the respondents earn above Rs.15000. On the other hand, the percentage of low level of satisfaction was the highest (30.1%) among the respondents earn below Rs.10000 and the lowest (20.3%) among the respondents earn above Rs.15000 as monthly income. In order to find out the relationship between monthly income and level of satisfaction, a hypothesis was framed and analysed with the help of
87

chi-square test. The result of the chi-square test is shown in the following table. H0 : There is no significant relationship between monthly income of the respondents and level of satisfaction. H1 : There is a significant relationship between monthly income of the respondents and level of satisfaction. TABLE NO. 4.15 MONTHLY INCOME AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Monthly income Calculated 2 Table Value Value 6.658 9.488 D.F 4 Remarks Not Significant

It is evident from the above analysis that the calculated chi-square value is lesser than the table value and it is not significant. Hence, the hypothesis, monthly income and level of satisfaction are not associated holds good. It is concluded from the analysis that there is no relationship between monthly income of the respondents and their level of satisfaction towards job.

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JOB POSITION AND LEVEL OF SATISFACTION An attempt has been made to know about the job position of the respondents and level of satisfaction. For the purpose of this study, it has been studied under two groups viz., permanent and contract. The sample consists of 175 (87.5%) respondents have permanent job and 25 (12.5%) respondents have contract job. The distribution of sample respondents according to the job position of the respondents and their level of satisfaction towards job are shown in the following table. TABLE NO. 4.16 JOB POSITION AND LEVEL OF SATISFACTION S. Job position No. 1. Permanent 2. Contract Total No. of Respondents 175 25 200 % 87.5 12.5 100 Ave rage 48.4 48.5 Range S.D Min Max 24 63 7.0 36 62 6.7

It could be observed from the above table that the level of satisfaction towards job of the respondents in permanent job ranged between 24 and 63 with an average of 48.4. On the other hand, the level of satisfaction of the respondents in contract job ranged between 36 and 62 with an average of 48.5. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents in contract job.

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With a view to find the degree of association between the job position of the respondents and the level of satisfaction, a two-way table was prepared and it is exhibited in the following table. TABLE NO. 4.17 JOB POSITION AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. No. 1. 2. Job position Permanent Contract Total Level of satisfaction Low Medium High 39 85 51 (22.3) (48.6) (29.1) 12 6 7 (48.0) (24.0) (28.0) 51 91 58 Total 175 25 200

It could be stated from the above table that the percentage of high level of the respondents towards job was the highest (29.1%) among the respondents have permanent job and the same was the lowest (28.0%) among the respondents have contract job. The percentage of medium level of satisfaction was the highest (48.6%) among the respondents have permanent job and the lowest (24.0%) among the respondents have contract job. On the other hand, the percentage of low level of satisfaction was the highest (48.0%) among the respondents have contract job and the lowest (22.3%) among the respondents have permanent job.

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In order to find out the relationship between job position and level of satisfaction, a hypothesis was framed and analysed with the help of chisquare test. The result of the chi-square test is shown in the following table. H0 : There is no significant relationship between job position of the respondents and level of satisfaction. H1 : There is a significant relationship between job position of the respondents and level of satisfaction. TABLE NO. 4.18 JOB POSITION AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Job position Calculated 2 Table Value Value 8.585 5.991 D.F 2 Remarks Significant at 5% level

It is identified from the above analysis that the calculated chi-square value is greater than the table value and it is significant at 5 percent level. Hence, the hypothesis, job position of the respondents and level of satisfaction are not associated does not hold good. It is concluded from the analysis that there is a close significant relationship between job position and level of satisfaction towards job.

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EXPERIENCE AND LEVEL OF SATISFACTION An attempt has been made to know about the experience of the respondents and level of satisfaction towards job. For the purpose of this study, it has been studied under four groups viz., less than 1 year, between 13 years, between 4-5 years and above 5 years. The sample consists of 28 (14.0%) respondents have less than 1 year experience, 87 (43.5%) respondents have 1-3 years experience, 58 (29.0%) respondents have 4-5 years experience and 27 (13.5%) respondents have above 5 years experience. The distribution of sample respondents according to the experience of the respondents and their level of satisfaction towards job are shown in the following table. TABLE NO. 4.19 EXPERIENCE AND LEVEL OF SATISFACTION S. No. 1. 2. 3. 4. Experience Less than 1 year Between 1-3 years Between 4-5 years Above 5 years Total No. of Respondents 28 87 58 27 200 % 14.0 43.5 29.0 13.5 100 Ave rage 47.1 47.4 48.9 51.8 Range S.D Min Max 24 58 7.5 30 63 6.9 29 62 6.4 30 61 6.9

It could be surmised from the above table that the level of satisfaction towards job of the respondents have less than 1 year experience ranged

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between 24 and 58 with an average of 47.1. It followed by the respondents have between 1-3 years experience ranged between 30 and 63 with an average of 47.4. The level of satisfaction towards job of the respondents have 4-5 years of experience ranged between 29 and 62 with an average of 48.9. On the other hand, the level of satisfaction of the respondents have experience for above 5 years ranged between 30 and 61 with an average of 51.8. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents have the experience for above 5 years. With a view to find the degree of association between the experience of the respondents and level of satisfaction, a two-way table was prepared and it is exhibited in the following table.

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TABLE NO. 4.20 EXPERIENCE AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. Experience No. 1. Less than 1 year 2. 3. 4. Between 1-3 years Between 4-5 years Above 5 years Total Level of satisfaction Low Medium High 9 12 7 (32.1) (42.9) (25.0) 29 37 21 (33.3) (42.5) (24.1) 8 34 16 (20.5) (58.6) (27.6) 5 8 14 (18.5) (29.6) (51.9) 51 91 58 Total 28 87 58 27 200

It could be identified from the above table that the percentage of high level of satisfaction towards job was the highest (51.9%) among the respondents have above 5 years experience and the same was the lowest (24.1%) among the respondents have between 1-3 years experience. The percentage of medium level of satisfaction towards job was the highest (58.6%) among the respondents have between 4-5 years experience and the same was the lowest (29.6%) among the respondents have above 5 years experience. On the other hand, the percentage of low level of satisfaction towards job was the highest (33.3%) among the respondents have between 1-3 years experience and the same was the lowest (18.5%) among the respondents have above 5 years of working experience.

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In order to find out the relationship between experience and level of satisfaction, a hypothesis was framed and analysed with the help of chisquare test. The result of the chi-square test is shown in the following table. H0 : There is no significant relationship between experience of the respondents and level of satisfaction. H1 : There is a significant relationship between experience of the respondents and level of satisfaction.

TABLE NO. 4.21 EXPERIENCE AND LEVEL OF SATISFACTION (CHI-SQUARE TEST) Factor Experience Calculated 2 Value 15.878 Table Value 12.592 D.F 6 Remarks Significant at 5% level

It is observed from the above table that the calculated chi-square value is greater than the table value and the result is significant at 5% level. Hence, the hypothesis, experience of the respondents and level of satisfaction towards job are not associated, does not hold good. From the analysis, it is concluded that there is a close significant relationship between the experience of the respondents and their level of satisfaction towards job.

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OPINION TOWARDS RETENTION STRATEGY ADOPTED BY THE COMPANY AND LEVEL OF SATISFACTION An attempt has been made to know about the respondents opinion towards retention strategy adopted by the company and level of satisfaction towards job. For the purpose of this study, it has been studied under three groups viz., minimum, moderate and maximum. The sample consists of 54 (27.0%) respondents opined that minimum retention strategy adopted by the company, 100 (50.0%) respondents opined that moderate retention strategy and 46 (23.0%) respondents opined that maximum retention strategy adopted by the company. The distribution of sample respondents according to the opinion towards retention strategy adopted by the company and level of satisfaction are shown in the following table.

TABLE NO. 4.22 OPINION TOWARDS RETENTION STRATEGY ADOPTED BY THE COMPANY AND LEVEL OF SATISFACTION S. Opinion No. 1. Minimum 2. Moderate 3. Maximum Total No. of Respondents 54 100 46 200 % 27.0 50.0 23.0 100 Ave rage 44.8 48.6 52.2 Range S.D Min Max 24 61 8.7 35 62 5.4 36 63 5.5

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It could be identified from the above table that the level of satisfaction of the respondents towards job of minimum retention strategy adopted by the company ranged between 24 and 61 with an average of 44.8. It followed by the respondents opined that moderate retention strategy ranged between 35 and 62 with an average of 48.6. On the other hand, the level of satisfaction of the respondents opined that maximum retention strategy ranged between 36 and 63 with an average of 52.2. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents opined that maximum retention strategy adopted by the company. With a view to find the degree of association between the opinion towards retention strategy adopted by the company and level of satisfaction, a two-way table was prepared and it is exhibited in the following table. TABLE NO. 4.23 OPINION TOWARDS RETENTION STRATEGY ADOPTED BY THE COMPANY AND LEVEL OF SATISFACTION (TWO-WAY TABLE) S. Opinion No. 1. Minimum 2. 3. Moderate Maximum Total Level of satisfaction Low Medium High 24 15 15 (44.4) (27.8) (27.8) 22 58 20 (22.0) (58.0) (20.0) 5 18 23 (10.9) (39.1) (50.0) 51 91 58
97

Total 54 100 46 200

It could be explained from the above table that the percentage of high level of satisfaction towards job was the highest (50.0%) among the respondents opined that maximum retention strategy adopted by the company and the same was the lowest (20.0%) among the respondents opined that moderate retention strategy adopted by the company. The

percentage of medium level of satisfaction towards job was the highest (58.0%) among the respondents opined that moderate retention strategy adopted by the company and the same was the lowest (27.8%) among the respondents opined that minimum retention strategy adopted by the company. On the other hand, the percentage of low level of satisfaction towards job was the highest (44.4%) among the respondents opined that minimum retention strategy adopted by the company and the same was the lowest (10.9%) among the respondents opined that maximum retention strategy adopted by the company. In order to find out the relationship between opinion towards retention strategy adopted by the company and level of satisfaction, a hypothesis was framed and analysed with the help of chi-square test. The result of the chisquare test is shown in the following table.

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H0

There is no significant relationship between retention strategy adopted by the company of the respondents and level of satisfaction.

H1

There is a significant relationship between retention strategy adopted by the company of the respondents and level of satisfaction. TABLE NO. 4.24

OPINION TOWARDS RETENTION STRATEGY ADOPTED BY THE COMPANY AND LEVEL OF SATISFACTION (CHISQUARE TEST) Factor Opinion Calculated 2 Value 29.330 Table Value 9.488 D.F 4 Remarks Significant at 5% level

It is stated from the above table that the calculated chi-square value is greater than the table value and the result is significant at 5% level. Hence, the hypothesis, opinion towards retention strategy adopted by the company and level of satisfaction towards job are not associated, does not hold good. From the analysis, it is concluded that there is a close significant relationship between the opinion towards retention strategy adopted by the company and level of satisfaction towards job.

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4.3

PERCENTAGE ANALYSIS

DESIGNATION OF THE RESPONDENTS An attempt has been made to know the designation of the respondents working in knitting industry. For the purpose of this study, it has been classified into two groups viz., supervisor and workers. The details are furnished in the following table. TABLE NO. 4.25 DESIGNATION OF THE RESPONDENTS S.No. 1 2 Designation Supervisor Workers Total No. of Percentage respondents 24 176 200 12.0 88.0 100.0

It is observed from the above table that 12.0 percent of the respondents are supervisor in knitting industry and 88.0 percent of the respondents are workers in knitting industry. It is found from the analysis that majority (88.0%) of the respondents are workers in knitting industry.

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CHART NO. 4.1 DESIGNATION OF THE RESPONDENTS

101

AGE GROUP OF THE RESPONDENTS An attempt has been made to know the age group of the respondents working in knitting industry. For the purpose of this study, it has been classified into four groups viz., under 25 years, 25-35 years, 36-45 years and above 45 years. The details are furnished in the following table.

TABLE NO. 4.26 AGE GROUP OF THE RESPONDENTS S.No. 1 2 3 Age Under 25 years 25 to 35 years Above 35 years Total No. of Percentage respondents 81 98 21 200 40.5 49.0 10.5 100.0

It is surmised from the above table that 40.5 percent of the respondents with the age group of under 25 years, 49.0 percent of the respondents belong to the age group of 25-35 years and 10.5 percent of the respondents with the age group of 36-45 years. It is noted from the analysis that majority (49.0%) of the respondents with the age group of 25-35 years in knitting industry.

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CHART NO. 4.2 AGE GROUP OF THE RESPONDENTS

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GENDER OF THE RESPONDENTS An attempt has been made to know the gender of the respondents in knitting industry. For the purpose of this study, it has been classified into two categories namely, male and female. The details are furnished in the following table. TABLE NO. 4.27 GENDER OF THE RESPONDENTS S.No. Gender 1 2 Male Female Total No. of Percentage respondents 133 67 200 66.5 33.5 100.0

It is observed from the above table that 66.5 percent of the respondents are male and 33.5 percent of the respondents are female. It is found from the analysis that majority (66.5%) of the respondents are male in knitting industry.

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CHART NO. 4.3 GENDER OF THE RESPONDENTS

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EDUCATIONAL QUALIFICATION OF THE RESPONDENTS An attempt has been made to know the educational qualification of the respondents working in knitting industry. For the purpose of this study, it has been classified into four categories viz., illiterate, school level, college level and professional. The details are furnished in the following table.

TABLE NO. 4.28 EDUCATIONAL QUALIFICATION OF THE RESPONDENTS S.No. Educational Qualification 1 2 3 4 Illiterate School level College level Professional Total No. of Percentage respondents 64 102 34 0 200 32.0 51.0 17.0 0.0 100.0

It is identified from the above table that 32.0 percent of the respondents are illiterate, 51.0 percent of the respondents are having school level education and 17.0 percent of the respondents with college level education. It is concluded from the analysis that majority (51.0%) of the respondents with school level education are working in knitting industry.

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CHART NO. 4.4 EDUCATIONAL QUALIFICATION OF THE RESPONDENTS

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MONTHLY INCOME OF THE RESPONDENTS An attempt has been made to know the monthly income of the respondents working in knitting industry. For the purpose of this study, it has been classified into three categories viz., below Rs.10000, Rs.10000 to 15000 and above Rs.15000. The details are furnished in the following table.

TABLE NO. 4.29 MONTHLY INCOME OF THE RESPONDENTS S.No. Monthly Income 1 2 3 Below Rs.10000 Rs.10001-15000 Above Rs.15000 Total No. of Percentage respondents 73 68 59 200 36.5 34.0 29.5 100.0

It is observed from the above table that 36.5 percent of the respondents earn below Rs.10000, 34.0 percent of the respondents earn Rs.10001 to 15000 and 29.5 percent of the respondents earn above Rs.15000. It is concluded from the analysis that majority (36.5%) of the respondents earn below Rs.10000 in knitting industry.

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CHART NO. 4.5 MONTHLY INCOME OF THE RESPONDENTS

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NUMBER OF DEPENDENTS OF THE RESPONDENTS An attempt has been made to know the number of dependents in the family of the respondents in knitting industry. For the purpose of this study, it has been classified into three categories viz., upto 3 members, 4-5 members and above 5 members. The details are furnished in the following table. TABLE NO. 4.30 NUMBER OF DEPENDENTS OF THE RESPONDENTS S.No. No. of Dependents 1 2 3 Upto 3 members 4-5 members Above 5 members Total No. of Percentage respondents 110 69 21 200 55.0 34.5 10.5 100.0

It is inferred from the above table that 55.0 percent of the respondents are having upto 3 members, 34.5 percent of the respondents are having 4-5 members and 10.5 percent of the respondents are having above 5 members in their family. It is concluded from the analysis that majority (55.0%) of the respondents are having upto 3 members in their family.

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CHART NO. 4.6 NUMBER OF DEPENDENTS OF THE RESPONDENTS

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MARITAL STATUS OF THE RESPONDENTS An attempt has been made to know the marital status of the respondents in knitting industry. For the purpose of this study, it has been classified into two categories viz., married and unmarried. The details are furnished in the following table. TABLE NO. 4.31 MARITAL STATUS OF THE RESPONDENTS S.No. Marital status 1 2 Married Unmarried Total No. of Percentage respondents 122 78 200 61.0 39.0 100.0

It is obtained from the above table that 61.0 percent of the respondents are married and 39.0 percent of the respondents are unmarried. It is concluded from the analysis that majority (61.0%) of the married respondents are working in knitting industry.

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CHART NO. 4.7 MARITAL STATUS OF THE RESPONDENTS

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STATUS OF SPOUSE An attempt has been made to know the status of spouse of the respondents in knitting industry. For the purpose of this study, it has been classified into four categories viz., employed, not employed, part time and self employed. The details are furnished in the following table.

TABLE NO. 4.32 STATUS OF SPOUSE S.No. Status of spouse 1 2 3 4 Employed Not employed Part time Self employed Total No. of Percentage respondents 111 11 0 0 122 91.0 9.0 0.0 0.0 100.0

It is inferred from the above table that 91.0 percent of the respondents spouse are employed and remaining 9.0 percent of the respondents spouse are not employed. It is concluded from the analysis that majority (91.0%) of the respondents spouse are employed.

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CHART NO. 4.8 STATUS OF SPOUSE

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JOB POSITION OF THE RESPONDENTS An attempt has been made to know the job position of the respondents in knitting industry. For the purpose of this study, it has been classified into two groups viz., permanent and contract. The details are furnished in the following table. TABLE NO. 4.33 JOB POSITION OF THE RESPONDENTS S.No. Job position 1 2 Permanent Contract Total No. of Percentage respondents 175 25 200 87.5 12.5 100.0

It is observed from the above table that 87.5 percent of the respondents are permanent workers in knitting industry and 12.5 percent of the respondents are contract workers in knitting industry. It is found from the analysis that majority (87.5%) of the respondents are permanent workers in knitting industry.

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CHART NO. 4.9 JOB POSITION OF THE RESPONDENTS

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WORKING IN SHIFT BASIS An attempt has been made to know the opinion of the respondents towards working in shift basis in knitting industry. The details are furnished in the following table. TABLE NO. 4.34 WORKING IN SHIFT BASIS S.No. Opinion 1 2 Yes No Total No. of Percentage respondents 198 2 200 99.0 1.0 100.0

It is observed from the above table that 99.0 percent of the respondents are working in shift basis and remaining 1.0 percent of the respondents are not working in shift basis. It is concluded from the analysis that majority (99.0%) of the respondents are working in shift basis in knitting industry.

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CHART NO. 4.10 WORKING IN SHIFT BASIS

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WORKING HOURS PER DAY An attempt has been made to know the working hours per day of the respondents in knitting industry. For the purpose of this study, it has been classified into two categories viz., 8 hours and more than 8 hours. The details are furnished in the following table. TABLE NO. 4.35 WORKING HOURS PER DAY S.No. 1 2 Opinion 8 hours More than 8 hours Total No. of Percentage respondents 11 189 200 5.5 94.5 100.0

It is obtained from the above table that 5.5 percent of the respondents are working for 8 hours per day and 94.5 percent of the respondents are working for more than 8 hours per day. It is concluded from the analysis that majority (94.5%) of the respondents are working for more than 8 hours per day in knitting industry.

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CHART NO. 4.11 WORKING HOURS PER DAY

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SUFFICIENT REST PERIODS An attempt has been made to know the opinion of the respondents towards sufficient rest periods in knitting industry. The details are furnished in the following table. TABLE NO. 4.36 SUFFICIENT REST PERIODS S.No. Opinion 1 2 Yes No Total No. of Percentage respondents 146 54 200 73.0 27.0 100.0

It is observed from the above table that 73.0 percent of the respondents are having sufficient rest periods and remaining 27.0 percent of the respondents are not having sufficient rest periods in knitting industry. It is concluded from the analysis that majority (73.0%) of the respondents are having sufficient rest periods in knitting industry.

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CHART NO. 4.12 SUFFICIENT REST PERIODS

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EXPERIENCE IN THE PRESENT COMPANY An attempt has been made to know the opinion of the respondents towards the experience in the present company. For the purpose of this study, it has been classified into four categories viz., less than 1 year, between 1-3 years, between 4-5 years and above 5 years. The details are furnished in the following table. TABLE NO. 4.37 EXPERIENCE IN THE PRESENT COMPANY S.No. 1 2 3 4 Experience Less than 1 year Between 1-3 years Between 4-5 years Above 5 years Total No. of Percentage respondents 28 87 58 27 200 14.0 43.5 29.0 13.5 100.0

It is observed from the above table that 14.0 percent of the respondents are experienced in the present company for less than 1 year, 43.5 percent of the respondents are experienced in the present company for 1-3 years, 29.0 percent of the respondents are experienced in the present company for 4-5 years and 13.5 percent of the respondents are experienced in the present company for above 5 years. It is concluded from the analysis

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that majority (43.5%) of the respondents are experienced in the present company for 1-3 years.

CHART NO. 4.13 EXPERIENCE IN THE PRESENT COMPANY

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MODE OF TRANSPORT An attempt has been made to know the opinion of the respondents towards the mode of transport to reach the industry. For the purpose of this study, it has been classified into three categories viz., public transport, corporate vehicle and own vehicle. The details are furnished in the following table. TABLE NO. 4.38 MODE OF TRANSPORT S.No. Mode of transport 1 2 3 Public transport Corporate vehicle Own vehicle Total No. of Percentage respondents 63 60 77 200 31.5 30.0 38.5 100.0

It is obtained from the above table that 31.5 percent of the respondents reach the industry through public transport, 30.0 percent of the respondents are travelling through corporate vehicle and 38.5 percent of the respondents are travelling by their own vehicle. It is concluded from the analysis that majority (38.5%) of the respondents are travelling by their own vehicle.

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CHART NO. 4.14 MODE OF TRANSPORT

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COMPANY DIFFICULTY

POLICIES

OR

PROCEDURES

MAKE

JOB

An attempt has been made to know the opinion of the respondents towards company policies or procedures make job difficulty. The details are furnished in the following table. TABLE NO. 4.39 COMPANY POLICIES OR PROCEDURES MAKE JOB DIFFICULTY S.No. Opinion 1 2 Yes No Total No. of Percentage respondents 33 167 200 16.5 83.5 100.0

It is observed from the above table that 16.5 percent of the respondents opined that company policies or procedures make job difficulty and 83.5 percent of the respondents are opined that company policies or procedures not make any job difficulty. It is concluded from the analysis that majority (83.5%) of the respondents are opined that company policies or procedures not make any job difficulty.

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CHART NO. 4.15 COMPANY POLICIES OR PROCEDURES MAKE JOB DIFFICULTY

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LEVEL OF SATISFACTION TOWARDS JOB An attempt has been made to know the level of satisfaction of the respondents towards job in knitting industry. For the purpose of this study, it has been classified into fourteen categories viz., nature of the work, job security, job status, working environment, appreciation for good work / recognition, relationship with superiors, relationship with peer employees, training programmes made by the organisation, promotional policy in practice, leave procedures and benefits, grievance redressal procedure, safety measures, welfare measures and scale of pay, allowances, bonus. The details are furnished in the following table.

TABLE NO. 4.40 LEVEL OF SATISFACTION TOWARDS JOB Factor S.No. related to job 1. Nature of the work 2. Job security 3. 4. 5. Job status Working environment Appreciation for good work / Highly Satisfied Neutral Satisfied 21 (10.5) 26 (13.0) 29 (14.5) 30 (15.0) 17 (8.5) 165 (82.5) 100 (50.0) 93 (46.5) 97 (48.5) 80 (40.0) 10 (5.0) 64 (32.0) 65 (32.5) 59 (29.5) 76 (38.0) Dissatisfie d 3 (1.5) 8 (4.0) 10 (5.0) 11 (5.5) 17 (8.5) Highly Dissatisfied 1 (0.5) 2 (1.0) 3 (1.5) 3 (1.5) 10 (5.0)

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Factor Highly S.No. related to Satisfied Neutral Satisfied job recognition relationship 6. 33 58 81 with (16.5) (29.0) (40.5) superiors Relationship 7. 85 73 37 with peer (42.5) (36.5) (18.5) employees Training 8. programmes 9 61 87 made by the (4.5) (30.5) (43.5) organisation Promotional 9. 18 43 81 policy in (9.0) (21.5) (40.5) practice Leave 10. 5 18 70 procedures (2.5) (9.0) (35.0) and benefits Grievance 11. 4 33 86 redressal (2.0) (16.5) (43.0) procedure 12. Safety 22 84 76 measures (11.0) (42.0) (38.0) 13. Welfare 29 95 65 measures (14.5) (47.5) (32.5) Scale of pay, 14. 22 96 61 allowances, (11.0) (48.0) (30.5) bonus

Dissatisfie d 22 (11.0) 4 (2.0) 39 (19.5) 49 (24.5) 88 (44.0) 60 (30.0) 16 (8.0) 9 (4.5) 16 (8.0)

Highly Dissatisfied 6 (3.0) 1 (0.5) 4 (2.0) 9 (4.5) 19 (9.5) 17 (8.5) 2 (1.0) 2 (1.0) 5 (2.5)

It is observed from the above table that 42.5 percent of the respondents are highly satisfied towards the factor relationship with peer employees. It is followed by the respondents are satisfied towards the factors like nature of the work, job security, job status, working

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environment, appreciation for good work / recognition, safety measures, welfare measures and scale of pay, allowances, bonus as 82.5, 50.0, 46.5, 48.5, 40.0, 42.0, 47.5 and 48.0 percent respectively. It is followed by the respondents are neutrally satisfied towards the factors like relationship with superiors, training programmes made by the organisation, promotional policy in practice and grievance redressal procedure, as 40.5, 43.5, 40.5 and 43.0 percent respectively. It is followed by the respondents are dissatisfied towards the factor leave procedures and benefits as 44.0 percent. It is concluded from the analysis that majority (82.5 %) of the respondents are satisfied towards the factor nature of the work in knitting industry.

RETENTION STRATEGIES ADOPTED BY THE COMPANY An attempt has been made to know the opinion of the respondents about retention strategies adopted by the company. For the purpose of this study, it has been classified into ten categories viz., begin at the recruitment stage by comparing candidates to the best employees, well planed, post hiring fitting-in plans instills confidence in the long term employee organisation, performance feedback on a regular basis propels success, paralleling company goals with personal goals and planning for success in the future creates motivation to outperform in current positions, listing

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commands respect and representation, respect, value and appreciate employees does more than financial compensation to increase retention, let the employees to heard and listen to their concerns, a variety of rewards will increase employee gratification and happiness, job rotation, company organising a family get-together, tour, etc, free transportation and care for childrens education. The details are furnished in the following table. TABLE NO. 4.41 RETENTION STRATEGIES ADOPTED BY THE COMPANY S.No Strongly Retention strategies Agree Neutral . agree Begin at the 1. recruitment stage by 9 133 33 comparing candidates (4.5) (66.5) (16.5) to the best employees Well planed, post hiring fitting-in 2. plans instills 5 20 126 confidence in the (2.5) (10.0) (63.0) Long term employee organisation Performance 3. 7 18 80 feedback on a regular (3.5) (9.0) (40.0) basis propels success Paralleling company 5 16 96 4. goals with personal (2.5) (8.0) (48.0) goals and planning for success in the future creates motivation to outperform in current positions, Listing commands respect
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Disagre e 21 (10.5)

Strongly disagree 4 (2.0)

45 (22.5)

4 (2.0)

85 (42.5) 73 (36.5)

10 (5.0) 10 (5.0)

S.No Strongly Retention strategies Agree Neutral . agree and representation Respect, value and appreciate employees 5. does more than 12 29 59 financial (6.0) (14.5) (29.5) compensation to increase retention Let the employees to 6. 6 13 53 heard and listen to (3.0) (6.5) (26.5) their concerns A variety of rewards will increase 7. 35 53 65 employee (17.5) (26.5) (32.5) gratification and happiness 8. 9 27 96 Job rotation (4.5) (13.5) (48.0) Company organising 9. 3 30 34 a family get-together, (1.5) (15.0) (17.0) tour, etc Free transportation 10. 102 85 12 and care for (51.0) (42.5) (6.0) childrens education

Disagre e

Strongly disagree

79 (39.5)

21 (10.5)

99 (49.5) 38 (19.0) 61 (30.5) 95 (47.5) 1 (0.5)

29 (14.5) 9 (4.5) 7 (3.5) 38 (19.0) 0

It is observed from the above table that the respondents are strongly agreed towards the factor free transportation and care for childrens education as 51.0 percent. It is followed by 66.5 percent of the respondents are agreed towards the factor begin at the recruitment stage by comparing candidates to the best employees. It is followed by the respondents are neutrally agreed towards the factors like well planed, post hiring fitting-in plans instills confidence in the long term employee organisation, paralleling

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company goals with personal goals and planning for success in the future creates motivation to outperform in current positions, listing commands respect and representation, a variety of rewards will increase employee gratification and happiness and job rotation, as 63.0, 48.0, 32.5 and 48.0 percent respectively. It is followed by the respondents are disagreed towards the factors like performance feedback on a regular basis propels success, respect, value and appreciate employees does more than financial compensation to increase retention, let the employees to heard and listen to their concerns and company organising a family get-together, tour, etc., as 42.5, 39.5, 49.5 and 47.5 percent respectively. It is concluded from the analysis that majority (66.5 %) of the respondents are agreed towards the retention strategy adopted by the company of begin at the recruitment stage by comparing candidates to the best employees in knitting industry.

IMPLEMENTATION OF THREE RS (RECOGNITION, REWARD, RESPECT) WILL RETAIN EMPLOYEES An attempt has been made to know the opinion of the respondents about the implementation of three Rs (recognition, reward, respect) will retain employees in knitting industry. For the purpose of this study, it has

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been classified into four categories viz., never, sometimes, most of the times and all the times. The details are furnished in the following table. TABLE NO. 4.42 IMPLEMENTATION OF THREE RS (RECOGNITION, REWARD, RESPECT) WILL RETAIN EMPLOYEES S.No. 1 2 3 4 Opinion Never Sometimes Most of the times All the times Total No. of Percentage respondents 19 121 29 31 200 9.5 60.5 14.5 15.5 100.0

It is stated from the above table that 9.5 percent of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will never retain employees in knitting industry. It is followed by 60.5 percent of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will sometimes retain employees, 14.5 percent of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will most of the times retain employees and 15.5 percent of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will all the times retain employees. It is

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concluded from the analysis that majority (60.5%) of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will sometimes retain employees in knitting industry.

CHART NO. 4.16 IMPLEMENTATION OF THREE RS (RECOGNITION, REWARD, RESPECT) WILL RETAIN EMPLOYEES

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CHAPTER V FINDINGS, SUGGESTIONS AND CONCLUSION

5.1

FINDINGS It is noted from the analysis that maximum level of satisfaction towards job is attained by the supervisors. The result of chi-square test proved the association at 5 percent level of significance.

From the analysis, it is inferred that the maximum level of satisfaction towards job is perceived by the respondents with the age group of above 35 years.

From the above analysis, it is concluded that the maximum level of satisfaction is perceived by the male respondents. The result of chisquare test proved the association at 5 percent level of significance.

From the analysis, it is identified that maximum level of satisfaction towards job is perceived by the respondents with college level education. The result of chi-square test proved the association at 5 percent level of significance.

From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents whose monthly income level

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as above Rs.15000. The result of chi-square test proved the association at 5 percent level of significance. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents in contract job. The result of chi-square test proved the association at 5 percent level of significance. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents have experience for above 5 years. The result of chi-square test proved the association at 5 percent level of significance. From the analysis, it is identified that maximum level of satisfaction towards job is perceived by respondents opined that maximum retention strategy adopted by the company. The result of chi-square test proved the association at 5 percent level of significance. It is found from the analysis that majority (88.0%) of the respondents are workers in knitting industry. It is noted from the analysis that majority (49.0%) of the respondents with the age group of 25-35 years in knitting industry. It is found from the analysis that majority (66.5%) of the respondents are male in knitting industry.

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It is concluded from the analysis that majority (51.0%) of the respondents with school level education are working in knitting industry.

It is concluded from the analysis that majority (36.5%) of the respondents earn below Rs.10000 in knitting industry.

It is concluded from the analysis that majority (55.0%) of the respondents are having upto 3 members in their family.

It is concluded from the analysis that majority (61.0%) of the married respondents are working in knitting industry.

It is concluded from the analysis that majority (91.0%) of the respondents spouse are employed.

It is found from the analysis that majority (87.5%) of the respondents are permanent workers in knitting industry.

It is concluded from the analysis that majority (99.0%) of the respondents are working in shift basis in knitting industry.

It is concluded from the analysis that majority (94.5%) of the respondents are working for more than 8 hours per day in knitting industry.

It is concluded from the analysis that majority (73.0%) of the respondents are having sufficient rest periods in knitting industry.
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It is concluded from the analysis that majority (43.5%) of the respondents are experienced in the present company for 1-3 years.

It is concluded from the analysis that majority (38.5%) of the respondents are travelling by their own vehicle.

It is concluded from the analysis that majority (83.5%) of the respondents are opined that company policies or procedures not make any job difficulty.

It is concluded from the analysis that majority (82.5 %) of the respondents are satisfied towards the factor nature of the work in knitting industry.

It is concluded from the analysis that majority (66.5 %) of the respondents are agreed towards the retention strategy adopted by the company of begin at the recruitment stage by comparing candidates to the best employees in knitting industry.

It is concluded from the analysis that majority (60.5%) of the respondents are opined that the implementation of three Rs (recognition, reward, respect) will sometimes retain employees in knitting industry.

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5.2

SUGGESTIONS Organizations should have a proactive retention strategy which helps

in reducing employee turnover. Retention plan strategies should be different for different level of employees, because their roles are different; their needs are different; what motivates them are different and what makes them leave are also different. Based on the study it has been seen that dimensions of satisfaction and motivate are significantly different for employees on the basis of age, gender, marital status and education. Thus based on the findings, it can be said if the employees are motivated and involved in the work they can be retained. The ease of retention would depend on their degree of motivation and involvement. It is desirable to plan employee retention strategy by an organization, which should cover following aspects: Reciprocity is the key. Employees are investors in the company and expect a return on investment. The return can be in the form of recognition, empowerment and authority. Retention must be part of the organizations DNA. Successful organizations have woven retention and engagement deeply into their structure. Recognize managers who keep employees. Meaningful recognition remains a potent energizer for employees and managers alike.
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Loyalty is never given. Loyalty must be earned; even satisfied employees sometimes leave. Therefore, develop sense of loyalty among the employees.

Organizations must be seen as employers of choice. One has to compete on compensation and benefits, but win on culture, learning and development.

Each generation of employees has different reasons for staying. For the first time in modern history, there are varied generations working side-by-side in most companies of this industry. Generational differences continue to pose new challenges to todays employers. Thus, retaining them needs a generation-centric approach.

Mentor widely and in both directions. Build learning relationships in all directions and hold all partners responsible for the success.

Train intelligently. Provide on-going retention training in manageable bites make it a continuous effort and find ways to size the retention plan to the specific demographics of the organization.

Create a development culture. Career development is the right thing for the organization (identifying and developing future leaders), the right thing for the employee (creating a development environment) and a key retention component.

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5.3

CONCLUSION The retention of employees has been shown to be significant to the

development and the accomplishment of the organizations goals and objectives. Retention of employees can be a vital source of competitive advantage for any organization. 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. All companies of any size are struggling in these days that how they could retain their employees from leaving existing jobs for more money or for the better opportunity. It is observed that those employees who left their organizations for more pay, when asked to tell the reasons why they quit, they rate pay at fifth or sixth place in their priorities. The leading reasons are culture, recognition, environment, policies of the organization and the relationship with company and co-workers. So, for those organizations who are struggling of retaining employees they must understand the requirements of the employees and the factors discussed above. This could help them in retaining their best talent with them for their long run success. In this study, mainly discussed the compensation, career path and working environment effecting retention of the employees.

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It concludes that career path is most valuable factor that employees look for, to work in the organization. This study helps organizations to understand the value of their employees and reasons to retain them because greater turnover means that employees are using organizations as a stone to step further and experience they are gaining with them is important. To retain employees, the organizations must review their career plans and reorganize those plans according to the market so that intelligent and talented employees could serve more and would beneficial in the long run.

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