APOLLO TYRES LTD.

EFFECTIVENESS OF RETENTION

PREPARED BY: GUIDED BY: SONI DEPARTMENT: COLLEGE :

SHWETA.SHAH MR.NILKANTH MBA PIET

TABLE OF CONTENTS
1. 2. 3. 4. 5. 6. 7. 8. 9.

PREFACE ACKNOWLEDGMENT COMPANY PROFILE INTRODUCTION RESEARCH METHODOLOGY REVIEW OF LITERATURE DATA ANALYSIS DATA INTERPRETATION FINDINGS

10. CONCLUSION 11. 12.

SUGGESTIONS ANNEXURE

13. QUESTIONNAIRE

PREFACE

For preparing the Project Report, I have visited the APOLLO TYRES during the suggested duration to avail the necessary information. The blend of learning and knowledge acquired during my practical studies at the company is presented in this Project Report.

The rationale behind, visiting the company and preparing the Project Report is to study the basics EFFECTIVENESS OF RETENTION , history and development of RETENTION, major players, contribution of WELFARE sector in the growth of economy and its functional areas.

The Project Report starts with the basics concepts of EFFECTIVENESS OF RETENTION STRATEGIES, history of RETENTION sector and also covers the general information of the company visited.

The information presented in this Project Report is obtained from sources like Company personnel, Company Website, Company Reports and other Literature.

ACKNOWLEDGMENT

I would like to express my gratitude and sincere thanks to my Project guide [ Mr. Nilkanth Soni] , for instilling confidence in me to carry out this study and extending valuable guidance and encouragement from time to time, without which it would not have been possible to undertake and complete this project.

I also wish to extend my appreciation, especially to our Dean, coordinator (MBA PROGRAMME) and also the staff members for giving me such an interesting Project work which gave us great exposure to the relevant field.

Last but not the least my colleagues and friends for their valuable comments and suggestions for making this a cherish able experience for me.

COMPANY PROFILE: The history of Apollo Tyres Limited in about a companys passion, Departmentation and will to surpass all obstacles and average as a leader in the Indian Tyre industry. After 3 decades of consistent growth. Today Apollo Ltd is Indias premier tyre manufacturing company. Apollo Tyres ltd history dates back to the early 70s. The companys license was obtained in 1972 by Mr. Mathew T. Maratukalam Jacob Thomas and his associates. In 1974 the company was taken over by Dr.Ranunasingh and his associates. The tyre project was implemented in 1976 in Prembra Kerala. The commercial production began in 1977 with an installed capacity of 420000 each of tyres and tubes. TYPE Private Limited Company

SCALE BUSINESS ACTIVITY

Large Scale industry Manufactures and sales of tyres

ALLIED BUSINESS

Tread Rubber for commercial vehicles tyres and distribution of alloy wheels for passenger car 1st April to 31st March Apollo House, 7,Inc. Institutional Area Sector 32 Gurgaon,Hariyana. 6,Floor,Cherupushpam bldg; Shanmugham Road, Cocher, kerala-682031 INDIA 6

FINANCIAL YEAR CORPORATE HEAD-QUARTERS

REGISTERED OFFICE

PHONE:+91-484-2381902 2381903 MANUFACTURING FACILITIES PRODUCT RANGE 4 (INDIA) Truck and Bus Bias light Truck Bias and Radial Passenger Car Radial Farm Bias and Radial Over 700 tons per day

OVER ALL CAPACITY

BOARD OF DIRECTORS: CHAIRMAN AND M.D VICE CHAIRMAN AND M.D CHIEF OPERATING OFFICER AND JOINT M.D GROUP HEAD, Corporate Strategy and Finance Chief R&T CHIEF GROUP, Advisory services CHIEF H.R Company Secretary Onkar S Kanwar Neeraj Kanwar U.S.Oberoi Gaurav Kumar Mr.Ashok.S.Iyar Mr.K.Prabhakar Mr.Tapan Mitra P.N.Wahal

There are 6 Brands, 9 Locations, 3 Continents and over 12000 Skilled people, crafting the nuances. MAIN PRODUCTS: Automative tubes in the following cadre: Passenger car Radials and Bias LCV Radial and Bias 7

Truck Bias Farm Bias Rear Tractor Animal driven vehicle Front Tractor

BANKERS: STOCK EXCHANGES: AUDITORS: TECHNOLOGICAL COLLABORATIONS: YEAR OF ESTABLISHMENT: LOCATION OF FIRST TYRES OF FACTORY: OWNER FACTORIES: NSE BSE STATE BANK OF INDIA BANK OF INDIA STATE BANK OF MYSORE STATE BANK OF PATIALA ICICI BANK LTD UNION BANK OF INDIA THE FEDERAL BANK LTD CANARA BANK LTD IDBI BANK LTD STANDARD CHARTERED BANK CITI BANK

Fraser and Ross Continental General Tyres, USA 1975 COCHIN, KERALA PREMBRA---KERALA LIMDA--------GUJARAT KALAMASSERY---KERALA RAJANGAON-----MAHARASHTRA

ABOUT LIMDA PLANT YEAR OF COMMENCEMENT OF OPERATIONS : INITIAL CAPACITY OF THE PLANT EXISTING CAPACITY AND THE PLANT RECENTLY EXPANSION CAPACITY AND CAPITAL CERTIFICATION : : 1991 70 meter/day 330 meter/day

: :

Modernized with an investment of over RS.247 crore and it is increasing.

Having as 9000 and going for TS-6949 Registered with DOS and D E Defense.(QAV) ECE Certification In metro (Brazil) Certification SASO (Saudi Arabia Certification)

INTRODUCTION
Employees belong to organization that cares about them, challenges them, believes in them and wants the best for them, not just as employees, but as total human beings. A. RETENTION Regardless of the performance of the economywe do not have enough quality people equipped with the right skills to fill all the jobs available, and its going to get worse. The labor pool is drying up. Workers in the 25 to 44 year old age categorytraditionally the source of executive talent---are already disappearing. Front-line managers and supervisors are increasingly hard to find. Information technology jobs are going unfilled. The tight job market of the late 90s was just a taste of difficulties to come. The outlook increasing competition for fewer qualified workerswill necessitate an enormous emphasis on the need to retain those workers. Employers say they want loyal, motivated employers who will stay committed to their organization. But then they threaten these workers with layoffs and insult them with a environment where people have to work longer hours taking up the slack of two or more people. DEFINITIONS ON EMPLOYEE RETENTION:

Employee Retention is a process in which the employees are encouraged to remain with organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee. (www.citehr.com) Employee Retention involves keeping those employers whom you wish to keep and letting go those employees whom you do not wish to keep. NEED:

Retention is converse of Turnover. Retention isnt simply a feel good issue. The Retention of good employees matters for 3 important bottom line managers.

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1. The growing importance of Intellectual Capital: In Todays Knowledge Era, intellectual capital decides the firms competitiveness edge. Intellectual Capital is the unique knowledge and skills that a companys workforce possesses. 2. A casual link between Employee and Customer satisfaction: Employee who are satisfied with their jobs and company are likely to create satisfied customers. 3. The High Cost of Employee Turnover:

REASONS FOR EMPLOYEES LEAVING ORGANIZATION:

Monetary Reasons Lack of flexible work schedules Non approximate working conditions Lack of respect Very few supportive colleagues Lack of appreciation Increase in favoritisms Organization is more business and profit oriented Lack of challenges in job Mismatch between person and job Too little coaching and feedback Stress from overwork and work-life imbalance Less frequent rewards Loss of trust and confidence in senior leaders

EFFECT ON ORGANIZATION DUE TO ATTRITION:

Loss of productivity Replacing qualified employees Poor retention creates a revolving door culture within the organization lowering morale and confidence. Recurring costs Interviewing costs Time spent in orientation

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IMPORTANCE OF EMPLOYEE RETENTION:

The cost of turnover is controlled Loss of company knowledge is prevented Interruption of customer service is taken care of Turnover leading to more turnover checked Goodwill of the company is enhanced or maintained Regaining efficiency is also considered

STRATEGIES / METHODS FOR EMPLOYEE RETENTION:

The following is not an exhaustive list, one can add or delete any of the below mentioned strategies. Secondly, the need of the hour is to have right basics. Every individual is different, his needs are different, and his emotions, his problems are different. 1) COMMUNICATION GETTING YOUR PEOPLE TO CARE: Communication is the first step toward creating the kind of environment that people care about, and if they care, they just may stay. At any time, all of your employees should have a pretty good idea of how business has been, and they should be aware of what issues the company is attempting to address. Listen to your employees when they have ideas for improvement. 2) SET CLEAR EXPECTATION: * How often do we appraise our employees/team-members? * What are the expectations from employees/team-members? * What will be the consequences, if they fail? *What will be the rewards, if they exceed expected levels? The role of CEO, HR manager is like a director of a movie; where there is a defined role for each character, each participant. Setting expectations initiates the process. Setting expectations revolves around the following 3 areas: -- Key job responsibilities -- Performance factors and standards

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-- Goals 3) GIVE COMPENSATION WHEN IT IS DUE:

Not all employees are all about the money. You have to be fair in giving out compensation but you also need to ensure that you are within your budget. If your employee deserves a raise because of their performance and you can see that you are well within budget even after youve given the raise, then do so. Giving your employees fair pay makes them feel that their contributions to the company are being appreciated which in turn would make them more committed to the company.

4) ENFORCE AN OPEN DESK POLICY:

You need to make your employees feel that what they have to say is important because it really is. Whether they need to air a grudge or would offer you some suggestions for the betterment of the company, you need to hear them out. Some of the best ideas come from employees themselves since they are already familiar with the ropes of the business.

5) PROVIDE GROWTH OPPORTUNITIES:

The most common reason for employees leaving jobs they have had for the longest time is because of dissatisfaction when it comes to growth opportunities. You also need to constantly give challenges to your employees by way of giving them new responsibilities every now and then.

6) BE FLEXIBLE AND TRANSPARENT EMPLOYER:

You have to realize the importance of having a work-life balance. You might be a workaholic who needs to work 24 hours a day, 7 days a week for you to be productive, leaving little time for your personal life. While that might work for you, you cannot expect the same from your employees. If needed, you have to let them take some time off for a well-deserved vacation or other situations which needs a little understanding on your part.

7) PROVIDE A POSITIVE WORKING ENVIRONMENT:

One of the main reasons employees quit is the relationship with their first-line supervisor. The fact is many supervisors and managers are unaware how their actions and decisions affect employee turnover. A critical aspect of an effective retention strategy is manager training. Properly trained managers play a major role in an effective recruitment and retention strategy.

8) RECOGNIZE, REWARD AND REINFORCE THE RIGHT BEHAVIOR:

Money and benefits may attract people to the front door, but something else has to keep them from going out the back. People have a basic human need to feel appreciated and proud of their work. Recognition and

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incentive programs help meet that need.

9) EMPLOYEE ENGAGEMENT:
People are more committed and engaged when they can contribute their ideas and suggestions. This gives them a sense of ownership.

10)DEVELOP SKILLS AND POTENTIAL:

Skilled people will not remain in a job if they see no future in their position. To eliminate the feeling of being in a dead-end job, every position should have an individual development plan.

11)EVALUATE AND MEASURE :

Continuous evaluation and never-ending improvement is the final step of the PRIDE system. The primary purpose of evaluation is to measure progress and determine what satisfies and de-satisfies your workforce. The evaluation process includes the measurement of attitudes, morale, turnover, and the engagement level of the workforce.

12)SHOW APPRECIATION OF YOUR STAFF MEMBERS SKILLS AND ABILITIES: 13)FUN IS MUST:
Celebrate successes and recognize when milestones are reached. Buffet lunches, birthday parties, employee picnics and creative contests will help remind people why an organization

14)PAPERLESS ORGANIZATION

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THE KEi EMPLOYEE RETENTION WHEEL

The first step to improving your employee retention is to understand why employees stay with their current employer. Many "experts" dwell on the reasons employees leave, which is not as important or revealing as the reasons they stay. Companies have tried many different programs and perks to hold onto good employees. However, studies show that these efforts are not enough to retain good employees when the support that is needed to achieve job success is not adequate. Don't Waste Your Money on Things That Don't Make a Difference... Among the countless inducements offered, only those identified in the center of KEi's Employee Retention Wheel are truly what give employees a consistent reason for saying "no thank you" when tempted with a "sweeter offer." After years of study and experience, KEi has determined, and presented in the Retention Wheel, what factors do have the greatest impact on keeping employees. KEi has used this information to give employers the tools to meet the core needs that keep employees successful at their jobs, thus reducing the high costs associated with unwanted employee turnover. Using the Wheel to Improve Employee Retention KEi's Employee Retention Strategy is based upon two primary beliefs: (1) It is difficult for employers to retain good employees if they don't have a process to hire the right people in the first place. (2) Retention processes must directly support the reasons that successful, satisfied employees stay. KEi's concentration on the center of the Employee Retention Wheel provides employers with Internetbased tools that give employees systematic, ongoing support to be successful in their work and satisfied with their employment. the high costs associated with unwanted employee turnover.

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THE CENTER OF KeiS EMPLOYEE RETENTION WHEEL

These eight central processes of the Employee Retention Wheel are the factors that are most critical to an employee's job performance success.

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ATTITUDE FOR EMPLOYING

A process to clearly define the way supervisors are expected to interact with employees; a process to give employees a way to express what is most important to achieve job success; and a process to give employers a way to demonstrate "Employing Values" through employment policies.

FINDING CANDIDATES A process that gives employers a comprehensive way to communicate to job seekers what it takes to achieve short-term and long-term job success, and to attract the candidates who fit this criteria. SORTING APPLICANTS A process that gives employers a way to confirm whether the attitudes and behaviors of job seekers are a match for their work environment. CHOOSING EMPLOYEES A process that gives employers a way to define the specific interview questions that prove job seeker abilities to successfully perform the target skills; and a process that gives employers a way to verify the accuracy of resume/application data and interview responses. STARTING EMPLOYEES A process that provides a way for new employees (before performing the job) to understand "why the employers business exists;" "what makes the business organization successful;" "why the employee's job exists;" and "what it will take for the employee to achieve job success." INFORMING EMPLOYEES A process that gives employers a way to provide essential information (from five critical information sources) that is needed by employees to make daily work decisions. IMPROVING EMPLOYEES A process that gives supervisors and employees a way to work together to build personalized plans for improving each employee's priority job skills; and a process that gives the employer a way to "deliver skillsimproving training curriculum" and to "measure the learning effectiveness" from the training experiences. REWARDING EMPLOYEES A process that gives employers a way to define and communicate exactly how individual employee salaries are determined; and a process that gives employers a way to provide employees with extra incentive income that is earned through the achievement of cash generating business goals.
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RESEARCH METHODOLOGY
TITLE OF THE STUDY: A STUDY TO CHECK EFFECTIVENESS OF RETENTION STRATEGIES ADOPTED BY APOLLO TYRES LTD. SIGNIFICANCE OF THE STUDY: The market today has become an open competitive market where organization 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. The fierce competition for qualified workers results from a number of workplace trends, including: A robust economy Shift in how people view their career Changes in the unspoken contract between employer and employee A new generation of workers Changes in social moves Life balance

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Retention of key employees is critical to the long-term health and success of any 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 organization knowledge and leaving.

] OBJECTIVES OF THE STUDY: The objectives for taking up this study include the following: To understand specific factors influencing retention of employees. To know the most used retention strategies adopted by the organization. To analyze the gap between employees expectation and organizations retention efforts. To analyze and bring forth the benefits of retention strategy to both employers and employees. To prepare a check list for the organization to compare their retention strategy with those desired by the employees. RESEARCH DESIGN: The research study is descriptive in nature as it studies the opinions and perceptions of the employees of the organization.

UNIVERSE: The universe consisted of APOLLP TYRES LIMITED. POPULATION: The population of the study consists of the employee at the middle level of hierarchical structure of a firm as these are the ones who experience the major external pull towards other jobs and competitors. SAMPLE AND SAMPLE TECHNIQUE: The total sample size consists of 30 respondents. The sample selection technique adopted for getting 30 Questionnaires filled is Simple Random and Probability Sampling. 19

TOOL FOR DATA COLLECTION: The tool for data collection is a structural QUESTIONNAIRE. REFERENCE PERIOD: The tentative reference period is from MARCH-APRIL, 2011-12. LIMITATION OF THE STUDY: The limitations faced during the research were: There is no clear definition of employee retention, which has been universally accepted by practitioners and academicians. The researcher is fresher, so there may be some mistakes while collecting the data. The tool being Questionnaire; there should be chances that the personal biases of the respondents may come into picture while answering to the questions. The research studies the opinions of the employees through a Questionnaire, therefore there is an element of subjectivity present in the study

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REVIEW OF LITERATURE
Review is concerned with the systematic gathering of information. Its purpose is to understand the similar studies done before. THE DELIBRATION PROCESS: There are two distinct periods in an employees thought process when he or she considers leaving a company. The first period is the time between his or her first thoughts of quitting and the subsequent decision to leave, when disappointment and even bitterness can set in due to an array of possible circumstances. The second period of the deliberation process is the time between the employees decision to leave and the actual leaving. The chances of a manager gaining renewed commitment from an employee in this period are not very good. This is why managers must keep their antennae up and alert to the signs that an employee is just starting to disengage when there is still time to do something about it.

WHY THEY LEAVE: 1. The job or workplace was not as expected. 2. The mismatch between Job and Person. 3. Too little coaching and feedback. 4. Two few growth and advancement opportunities. 5. Feeling devalued and unrecognized 6. Stress from overwork and work-life imbalance. 21

7. Loss of trust and confidence in senior leaders.

DATA ANALYSIS
SECTION-1: PERSONAL INFORMATION: I. SEX Female Male TOTAL SEX DISTRIBUTION: FREQUENCY 10 20 30 % FREQUENCY 33.33 66.67 100

It is apparent on referring the above table and pie graph that of total respondent 33.33% constituted the female population while 66.67% constituted the male group.

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II. YEARS OF EXPERIENCE: YEARS OF EXPERIENCE Less than 5 years 5 years- 10 years 11 years above TOTAL FREQUENCY 19 0 11 30 (%)FREQUENCY 63.33 0 36.67 100

It is apparent on referring the above table and column graph that 63.33% respondents in the study has less than 5 years of work experience and the rest 36.67% had experience of 11 years and above years.

III. EDUCATIONAL QUALIFICATIONS: EDUCATIONAL QUALIFICATION Graduates Post-Graduates Diploma Others TOTAL FREQUENCY 14 11 5 0 30 (%) F 46.67 36.66 16.67 0 100

It is apparent on referring the above table that as far as Educational Qualification is concerned 46.67% of the respondents is Graduates, 36.67% are Post-Graduates, and 16.67% have done their diploma.

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SECTION-2: EXPECTATIONS OF EMPLOYEES: FACTORS INFLUENCE DECISION TO STAY WITH AN ORGANIZATION: 1. JOB RELATED INFORMATION:

WELL DEFINED VISION AND MISSION:

WELL DEFINED VISION & MISSION Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 10 12 8 0 0 30 (%)F 33.33 40 26.67 0 0 100

It is apparent of referring the above table and graph that WELL DEFINED VISION AND MISSION has very strong influence on 33.33% respondents to stay with the organization, moderately strong influence on 40% and moderate influence on 26.67% respondents..

INVOLVEMENT IN REVISION OF VISION AND MISSION:

INVOLVEMENT OF VISION & MISSION Strong influence FREQUENCY 7 (%)F 23.33

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Moderate strong Moderate Weak None TOTAL

11 10 0 2 30

36.67 33.33 0 6.67 100

It is apparent of referring the above table and graph that INVOLVEMENT OF VISION & MISSION has very strong influence on 23.33% respondents, moderately strong influence on 36.67% and moderate influence on 33.33% respondents.

TRANSPORT POLICES, PROCEDURES AND RULES:

TRANSPORT POLICES, PROCEDURES AND RULES Strong influence Moderate strong Moderate Weak None TOTAL

FREQUENCY

(%)F

12 13 5 0 0 30

40 43.33 16.67 0 0 100

It is apparent of referring the above table and graph that TRANSPORT POLICES, PROCEDURES AND RULES has very strong influence on 40% respondents, moderately strong influence on 43.33% and moderate influence on 16.67% respondents. 1. PROPER CHANNELS OF COMMUNICATION:

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CHANNELS OF COMMUNICATION Strong influence Moderate strong Moderate Weak None TOTAL

FREQUENCY 14 13 2 1 0 30

(%)F 46.67 43.33 6.67 3.33 0 100

It is apparent of referring the above table and graph that CHANNELS OF COMMUNICATION has very strong influence on 46.67% respondents, moderately strong influence on 43.33% and moderate influence on 6.67% respondents and weak influence on 3.33%.

2. WORK PATTERN AND RELATIONS WITH COWORKERS:

PRIDE IN BRANDS NAME:

PRIDE IN BRANDS NAME Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 22 4 4 0 0 30 (%)F 73.34 13.33 13.33 0 0 100

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It is apparent of referring the above table and graph that PRIDE IN BRANDS NAME has very strong influence on 73.34% respondents, moderately strong influence on 13.33% and moderate influence on 13.33% respondents.

INVOLVEMENT IN DECISION MAKING Strong influence Moderate strong Moderate Weak None TOTAL

INVOLVEMENT IN DECISION MAKING: FREQUENCY 12 9 9 0 0 30 (%)F 40 30 30 0 0 100

It is apparent of referring the above table and graph that INVOLVEMENT IN DECISION MAKING has very strong influence on 40% respondents, moderately strong influence on 30% and moderate influence on 30% respondents.

QUALITY OF SUPERVISION Strong influence Moderate strong Moderate

QUALITY OF SUPERVISION: FREQUENCY 18 8 4 27 (%)F 60 26.67 13.33

Weak None TOTAL

0 0 30

0 0 100

It is apparent of referring the above table and graph that QUALITY OF SUPERVISION has very strong influence on 60% respondents, moderately strong influence on 26.67% and moderate influence on 13.33% respondents.

CONFIDENCE AND FAITH IN COLLEAGUES: FREQUENCY 14 13 3 0 0 30 (%)F 46.67 43.33 10 0 0 100

CONFIDENCE AND FAITH IN COLLEAGUES Strong influence Moderate strong Moderate Weak None TOTAL

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It is apparent of referring the above table and graph that CONFIDENCE AND FAITH IN COLLEAGUES has very strong influence on 46.67% respondents, moderately strong influence on 43.33% and moderate influence on 10% respondents.

RELATIONSHIP WITH COWORKERS:

RELATIONSHIP WITH COWORKERS Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 19 9 2 0 0 30 (%)F 63.33 30 6.67 0 0 100

It is apparent of referring the above table and graph that RELATIONSHIP WITH COWORKERS has very strong influence on 63.33% respondents, moderately strong influence on 30% and moderate influence on 6.67% respondents.

1. ORGANIZATION CULTURE: TEAM SPIRIT IN WORKING: TEAM SPIRIT IN WORKING Strong influence FREQUENCY 14 (%)F 46.66

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Moderate strong Moderate Weak None TOTAL

14 2 0 0 30

46.67 6.67 0 0 100

It is apparent of referring the above table and graph that TEAM SPIRIT IN WORKING has very strong influence on 46.66 % respondents, moderately strong influence on 46.67% and moderate influence on 6.67% respondents.

PROFESSIONALISM:
PROFESSIONALISM Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 10 14 2 0 4 30 (%)F 33.33 46.67 6.67 0 13.33 100

It is apparent of referring the above table and graph that PROFESSIONALISM has very strong influence on 33.33% respondents, moderately strong influence on 46.67% and moderate influence on 6.67% respondents and weak influence on 13.33% respondents.

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 SATISFACTION WITH JOB PROFILE Strong influence Moderate strong Moderate Weak None TOTAL

SATISFACTION WITH JOB PROFILE: FREQUENCY 11 14 4 1 0 30 (%)F 36.67 46.67 13.33 3.33 0 100

It is apparent of referring the above table and graph that SATISFACTION WITH JOB PROFILE has very strong influence on 36.67% respondents, moderately strong influence on 46.67% and moderate influence on 13.33% respondents and weak influence on 3.33% respondents.

ORGANIZATIONS EFFORTS TO OFFER SOMETHINF TO CONTINUE:

ORGANIZATIONS EFFORTS TO OFFER SOMETHINF TO CONTINUE Strong influence Moderate strong Moderate FREQUENCY (%)F

9 9 9 31

30 30 30

Weak None TOTAL

1 2 30

3.33 6.67 100

It is apparent of referring the above table and graph that ORGANIZATIONS EFFORTS TO OFFER SOMETHINF TO CONTINUE has very strong influence on 30% respondents, moderately strong influence on 30% and moderate influence on 30% respondents and weak influence on 3.33% respondents and no influence on 6.67% respondents.

FRIENDLY ATMOSPHERE Strong influence Moderate strong Moderate Weak None TOTAL

FRIENDLY ATMOSPHERE: FREQUENCY 10 10 10 0 0 30 (%)F 33.34 33.33 33.33 0 0 100

It is apparent of referring the above table and graph that FRIENDLY ATMOSPHERE has very strong influence on 33.33% respondents, moderately strong influence on 33.33% and moderate influence on 33.33% respondents.

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 ADEQUATE FREEDOM TO DO THE JOB Strong influence Moderate strong Moderate Weak None TOTAL

ADEQUATE FREEDOM TO DO THE JOB: FREQUENCY 6 12 11 1 0 30 (%)F 20 40 36.6 3.33 0 100

It is apparent of referring the above table and graph that ADEQUATE FREEDOM TO DO THE JOB has very strong influence on 20% respondents, moderately strong influence on 40% and moderate influence on 36.6% respondents and weak influence on 3.33% respondents.

1. TASK PERFORMANCE:

CLARITY OF TASKS:
CLARITY OF TASKS Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 6 12 11 1 0 30 (%)F 20 40 36.6 3.33 0 100

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It is apparent of referring the above table and graph that ADEQUATE FREEDOM TO DO THE JOB has very strong influence on 43.33% respondents, moderately strong influence on 26.67% and moderate influence on 26.67% respondents and weak influence on 3.33%.

AVAILABILTIY NECESSARY TOOLS AND RESOURCES TO DO THEIR JOB: FREQUENCY (%)F

AVAILABILTIY NECESSARY TOOLS AND RESOURCES TO DO THEIR JOB Strong influence Moderate strong Moderate Weak None TOTAL

9 15 4 2 0 30

30 50 13.33 6.67 0 100

It is apparent of referring the above table and graph that AVAILABILTIY NECESSARY TOOLS AND RESOURCES TO DO THEIR JOB has very strong influence on 30% respondents, moderately strong influence on 50% and moderate influence on 13.33% respondents and weak influence on 6.67%.

PROPER TRAINNING FOR THE JOBS:

PROPER TRAINNING FOR FREQUENCY 34 (%)F

THE JOBS Strong influence Moderate strong Moderate Weak None TOTAL 10 12 4 3 1 30 33.34 40 13.33 10 3.33 100

It is apparent of referring the above table and graph that PROPER TRAINNING FOR THE JOBS has very strong influence on 33.34% respondents, moderately strong influence on 40% and moderate influence on 13.33% respondents and weak influence on 10% respondents and no influence on 3.33% respondents.

1. COMPENSATION: GOOD PAY PACKAGE Strong influence Moderate strong Moderate Weak None TOTAL GOOD PAY PACKAGE: FREQUENCY 8 6 11 5 0 30 (%)F 26.66 20 36.67 16.67 0 100

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It is apparent of referring the above table and graph that GOOD PAY PACKAGE has very strong influence on 26.66% respondents, moderately strong influence on 20% and moderate influence on 36.67% respondents and weak influence on 16.67% respondents.

MONETARY INCENTIVES:
MONETARY INCENTIVES FREQUENCY (%)F

Strong influence Moderate strong Moderate Weak None TOTAL

0 4 22 3 1 30

0 13.34 73.33 10 3.33 100

It is apparent of referring the above table and graph that MONETARY INCENTIVES has moderately strong influence on 13.34% and moderate influence on 73.33% respondents and weak influence on 10% respondents and no influence on 3.33% respondents.

1. GROWTH AND DEVELOPMENT: AWARENESS ABOUT PERFORMANCE APPRAISAL SYSTEM:

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AWARENESS ABOUT PERFORMANCE APPRAISAL SYSTEM Strong influence Moderate strong Moderate Weak None TOTAL

FREQUENCY

(%)F

7 8 6 8 1 30

23.33 26.67 20 26.67 3.33 100

It is apparent of referring the above table and graph that AWARENESS ABOUT PERFORMANCE APPRAISAL SYSTEM has strong influence on 23.33% and moderate strong influence on 26.67% respondents and moderate influence on 20% respondents, weak influence on 26.67% respondents and no influence on 3.33% respondents.

1. WORK LIFE BALANCE:

ENRICHING RELATIONS AT WORK PLACE:

ENRICHING RELATIONS AT WORK PLACE Strong influence Moderate strong Moderate Weak None

FREQUENCY

(%)F

6 7 15 0 2 37

20 23.33 30 0 6.67

TOTAL

30

100

It is apparent of referring the above table and graph that ENRICHING RELATIONS AT WORK PLACE has strong influence on 20% and moderate strong influence on 23.33% respondents and moderate influence on 30% respondents and no influence on 6.67% respondents.

FAIRNESS AND WORK ETHICS:

FAIRNESS AND WORK ETHICS Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 6 10 14 0 0 30 (%)F 20 33.33 46.67 0 0 100

It is apparent of referring the above table and graph that FAIRNESS AND WORK ETHICS has strong influence on 20% and moderate strong influence on 33.33% respondents and moderate influence on 46.67% respondents.

PROPER BALANCE BETWEEN PERSONAL LIFE AND PROFESSIONAL LIFE DEMANDS:

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FREQUENCY Strong influence Moderate strong Moderate Weak None TOTAL 6 9 14 1 0 30

(%)F 20 30 46.67 3.33 0 100

It is apparent of referring the above table and graph that PROPER BALANCE BETWEEN PERSONAL has strong influence on 20% and moderate strong influence on 30% respondents and moderate influence on 46.67% respondents and weak influence on 3.33% respondents.

1. CAREER AND DEVELOPMENT: ORGANIZATION HELP IN CAREER PLANNING: ORGANIZATION HELP IN CAREER PLANNING Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY (%)F

4 10 8 7 1 30 39

13.34 33.33 26.67 23.33 3.33 100

It is apparent of referring the above table and graph that ORGANIZATION HELP IN CAREER PLANNING has strong influence on 13.34% and moderate strong influence on 33.33% respondents and moderate influence on 26.67% respondents, weak influence on 23.33% respondents and no influence on 3.33% respondents.

1. JOB SATISFACTION AND APPRECIATION: CHALLENGING TASKS: CHALLENGING TASKS Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 12 7 9 2 0 30 (%)F 40 23.33 30 6.67 0 100

It is apparent of referring the above table and graph that CHALLENGING TASKS has strong influence on 40% and moderate strong influence on 23.33% respondents and moderate influence on 30% respondents, weak influence on 6.67% respondents.

WORKING CONDITIONS:

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WORKING CONDITIONS Strong influence Moderate strong Moderate Weak None TOTAL

FREQUENCY 11 8 11 0 0 30

(%)F 36.66 26.67 36.67 0 0 100

It is apparent of referring the above table and graph that WORKING CONDITIONS has strong influence on 36.66% and moderate strong influence on 26.67% respondents and moderate influence on 36.67% respondents.

PROMOTIONS:
PROMOTIONS Strong influence Moderate strong Moderate Weak None TOTAL FREQUENCY 10 6 6 8 0 30 (%)F 33.33 20 20 26.67 0 100

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It is apparent of referring the above table and graph that PROMOTIONS has strong influence on 33.33% and moderate strong influence on 20% respondents and moderate influence on 20% respondents and weak influence on 26.67% respondents.

FINDINGS
Some important findings: AREAS WHERE THEE IS A GAP BETWEEN THE EMPLOYEE EXPECTANCY AND PRESENT RETENTION STRATEGIES: As far as job as a whole is considered, there is a discrepancy between the employee expectancy and present strategies regarding clearly laid out vision and mission. There is a gap to be bridged in the communication system of the organization. The culture of the organization needs to be nourished with team spirit and flexibility. As far as the compensation package of the organization is concerned, most of the employees are not satisfied with the same. 42

To balance the personal and professional life demands, counseling is not often practiced. The company is not helping the carrier planning activities as required by the employees. Most of the employees when asked regarding job satisfaction replied positively. RETENTION STRATEGIES ADOPTED BY THE ORGANIZATION WHICH ARE BEING APPRECIATED BY THE EMPLOYEES: Most of the employees felt involved in the decision making. Enthusiasm in the organization is added through vibrant weekends, functions, multiple jobs, quality circles, etc. which is most appreciated by the employees. LEARNING AND DEVELOPMENT is a continuous process in the organization. The employee in the organization feel secure and get respect equally which is the most important for anyone to stay in the organization.

CONCLUSIONS:
Retention in todays market though a challenge is not difficult to achieve as through the data analysis and subsequent findings generated, it can be summarized that as far as the effectiveness 43

of the retention strategies being adopted by the sample organization of the study, a decent picture has emerged. Organizations in todays world have the Herculean task of creating an image with the employees would want to be associated. A positive psychological contract between the employer and employer paves the way for retention. Retention Strategies should address the overarching needs of an individual as a whole and should be formulated and implemented according to the industry and its requirement. The focus of the employers as brought out through the study has to shift from mere absorption of retention practices elsewhere to a more customized approach which seeks to percolate the satisfaction from workplace to employees family and individual life. The corner stone of all the activities in relation to anchoring the employees is undoubtedly communication. Clear, transparent and multidimensional exchange of expectations and goals in the organization can help many of the hidden as well as active dissatisfied people to voice their concerns and to be heard. When this is done in an effective, supportive and timely manner, it leads to movement of employees from zone of dissatisfaction to zone of satisfaction and subsequently to zone of delight.

SUGGESTIONS:
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Getting people off to a good start can help improve the retention level of an organization. Sharing information with employees can work wonders for employees especially in the current times of recession where insecurity related to job and pay suramounts work life. Giving people as much autonomy as they can handle and necessary resources can help to make the task performance more creative and effective. Being flexible motivates employees to great extent. Changing our overall perception and mindset from damage control to damage prevention can make us RETENTION ORIENTED managers and help in creating better trust and connection with our employees. Involvement of employees in vision and mission formulations by providing them the blueprint of the companys objectives and expectations can help in generating ownership and compliance with vission, mission and value statements. Professional jealousies and unhealthy work culture needs to be checked and kept in control by stressing on and making the employees realize the principles of equality and collective growth.

Work life balance as a reason for employee attrition especially womwn workforce is important and cannot be ignored.

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ANNEXURE
BOOKS: Armstrong Michael; A handbook of Human Resource Management Practice, 10th Edition, Kogan Page Limited, 1928. Robins Steppens and Judge Timothy, Organization Behavior, 12th Edition, Prentice Hall India. Kothari C R; Research Methodology----Methods & techniques; New Age International (P) ltd. Publishers, 2nd revised edition; 2004 Khanzode V V; Research Methodology: Techniques and Trends; Oscar publications, 2002.

NEWSLETTERS AND JOURNALS: Prof. Prabhakar S., Retaining Corporate HR, HRD Newsletter; April 2007, Vol: 23, Issue: 1, pg 37-38. The Harvard Business Essentials Series; Hiring & Keeping the Best people; Harvard Business School Press; Boston, Massachusetts, 2002.

UNPUBLISHED DISSERTATIONS:

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 Mehta charmee; Employee Retention Practices ( An opinion study of 80 employees of the IT Industries in Mumbai), May 2004.

QUESTIONNAIRE:
PERSONAL INFORMATION: NAME (optional): __________________________________________ SEX : Male / Female AGE: ________ years

NAME OF THE ORGANIZATION: _________________________________________ DESIGNATION : __________________________________ NUMBER OF YEARS OF EXPERIENCE IN THE PRESENT ORGANIZATION: - Less than 5 years - 5-10 years - 11 years and above

EDUCATIONAL QUALIFICATION: * Graduation * Post Graduation * Diploma * Any other specialization

TERMS OF EMPLOYMENT:

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* Probation * Permanent * Contract basis * Consultant * Temporary

SECTION: 1

FACTORS INFLUENCING DECISION TO STAY WITH AN ORGANIZATION: Please encircle (o) the response which best corresponds to the degree to which each of the following factors influences your decision/ is important for you to stay within an organization: 1= none, 2=Weak, 3=Moderate, 4=moderately strong, 5=Strong influence FACTORS INFLUENCE DECISION TO STAY WITH AN ORGANIZATION:

WELL DEFINED VISION AND MISSION: 1 2 3 4 5

INVOLVEMENT IN REVISION OF VISION AND MISSION: 1 2 3 4 5

TRANSPORT POLICES, PROCEDURES AND RULES: 1 2 3 4 5

SECTION: 2

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Please encircle (o) the answers that suits you and your company: Strongly Agree (SA) Agree (A) Disagree (D) Strongly Disagree (SD) 1. Company has well laid vision and mission statement: SA A D SD

2. You feel involved while revising the vision and mission of the company:

SA

SD

3. Policies, rules, procedures of the company are well laid out, transparent and easy to interpret: SA A D SD

4. Your opinion / suggestions are considered while laying companys policies, rules and procedures: SA A D SD

5. Free flow of information from superior to subordinate is through: YES In person Computer Telephone Notice Journals/magazines any other __________________________ 6. You satisfied with the present channels of communication adopted by your organization: SA A D SD NO

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If No, Why: ___________________________________________________________________ 7. Upward communication from subordinates to superiors is through:

YES Computer Suggestion box Open door policy Review meeting Grievance cell 8. Do you prefer any changes in the upward system of communication?

NO

YES NO If YES, Please give your suggestions: ______________________________________________________________________________ ______________________________________________________________________________ 9. The induction programme helped you to understand organization and its people: SA A D SD

10. You are satisfied with communication pattern with your seniors: SA A D SD

11.You feel connected and take pride in your organizations brand name: SA A D SD

12. You find your superiors interested in you: SA A D SD

13.You have confidence and faith in people you work with:

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SA

SD

14.You share good relations with your colleagues: SA A D SD

15.The employees of your company work with team spirit: SA A D SD

16.At times professional jealousies obstruct the performance of duties: SA A D SD

17.You are satisfied with your job profile: SA A D SD

18.Wasting ones time and energy is a common thing in your organization: SA A D SD

19.The tasks assigned have well defined clarity: SA A D SD

20.You are satisfied with your compensation package: SA A D SD

21.Incentives is properly communicated to all the employees of the company: SA A D SD

22.Does your firm provide you with benefits like ESOPs? YES NO

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23.Counseling is predicted in your organization: SA A D SD

24.Your social life gets affected by your work life: SA A D SD

25.You feel free to express your views during counseling process: SA A D SD

26.If you cant resolve your problem, you feel like quitting job: SA A D SD

27.Your organization helps in planning your career: SA A D SD

28.Growth path information within the organization is shared with employees: SA A D SD

29.You would prefer working with socially responsible organization: SA A D SD

30.You play significant role towards social responsibility on behalf of your organization: SA A D SD

31. Know-How and skills are upgraded through: YES Latest technology Training programme Domain training distant learning scheme encouraging for further NO

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32. Enthusiasm is added to your work life by: YES Flexi timings Multiple jobs Quality circles Informal dressing Vibrant weekends Functions Any other 33. You joined the present job because: YES You liked it others suggested only job availability 34. Please rate your satisfaction with present job: YES Highly satisfied Satisfied can do Dissatisfied highly dissatisfied 35. If at all you change this job, you are looking forward for: YES Specific Organization Challenging Assignment City/ Town of your choice More compensation Any other NO NO NO NO

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36. Full Appreciation for the work done is given the form: YES Good wages Good working condition Interesting work Flexi time Job sharing Promotion/Growth opportunities Recognition any other NO

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