A

PROJECT SYNOPSES

ON

“EMPLOYEE RETENTION IN PRIVATE SECTOR”

TO

OSMANIA UNIVERSITY

IN THE PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE

AWARD OF THE DEGREE OF

MASTERS OF BUSINESS ADMINISTRATION

BY

Mr. GOVATHOTI MANOHAR BABU

ROLL NO: 117418672040

UNDER THE GUIDANCE OF

Mr. Venkatesh Goud

DEPARTMENT OF BUSSINESS MANAGEMENT

SHANKARLAL DHANRAJ SIGNODIA COLLEGE OF ARTS &

Human Resource Management (HRM) is the strategic and coherent approach to the
management of an organization's most valued assets – the people working there, who
individually and collectively contribute to the achievement of the objectives of the business.
The terms "human resource management" and "human resources" (HR) have largely replaced
the term "personnel management" as a description of the processes involved in managing
people in organizations. Human Resource Management is evolving rapidly. Human Resource
Management is both an academic theory and a business practice that addresses the theoretical
and practical techniques of managing a workforce.

The Human Resources Management (HRM) function includes a variety of activities and key
among them is deciding what staffing needs exist and whether to use independent contractors
or hire employees to fulfill these needs; recruit and train the best employees, ensure they are
high performers; dealing with performance issues; and ensuring the personnel and
management practices conform to various regulations. Activities also include managing the
approach to employee benefits and compensation, employee records and personnel policies.
Usually, small businesses (for profit or non-profit) have to carry out these activities
themselves because they cannot yet afford part or full-time help. However, they should
always ensure that employees have and are aware of – personnel policies which conform to
current regulations. These policies are often in the form of employee manuals which all
employees must have.

EMPLOYEE RETENTION:

Effective employee retention is a systematic effort by employers to create and foster an

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 embedded 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 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 metros at least, there is no dearth of opportunities for the
best in the business, or even for the second or 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 are abound. In fact, some reports suggest that attrition levels in IT
companies are as high as 40 percent. Though BPO industry shoots ahead at 40 to 50 percent a
year, it is now losing 35 to 40 percent of its 350,000-odd employees as well.

Research Methodology:

NEED FOR THE STUDY:

The challenge of keeping employees, its changing face has stumped managers and business
owners alike. How do you manage this challenge? How do you build a workplace that
employees want to remain with and outsiders want to be hired into? 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 for the
organizations to meet their goals and serve customers well. Replacing employee costs money.
The cost of replacing an employee is estimated at up to twice the individual’s annual salary
(higher for positions based on their level within the inter-organizational hierarchy, such as
middle management) and this does not even include the cost of lost knowledge.

Recruiting employees consumes a great deal of time and effort, much of it futile. There is not
just one organization out there vying for qualified employees, and job searchers make
decisions based on more than the sum of salary and benefits.
Bringing employees up to speed takes even more time and when an organization is short-
staffed, they often need to put in extra time to get the work done.

OBJECTIVES OF STUDY:

A project will haywire if it does not have its objectives clear. If one knows the goal, only then
the right path can be decided and with disciplined work and positive attitude achieving these
objectives will be a catwalk.

Therefore, we also set down the objectives before starting the project, which are as follows:

1. To assess the employee retention strategies of the two telecommunication

2. To analyze the variance in the employee retention strategies of the two

SCOPE OF STUDY:

There are several problems faced by the employees that become a challenge for HR as
how to manage problems and to motivate employees for not leaving the organization. The
study says that the attrition in Private Sector has become the major issue. The focus of the
problem is that how HR can retain employees in this industry. The study will identify the
cause and need to fulfil the requirements of the employee.

PERIOD OF THE STUDY:

Study covers the period of employees worked from 2017-2019.

METHODOLOGY:

The steps in which the project was carried out was by collecting both the primary and the
secondary data. The secondary data was collected first. This collection of data was done by
means of reading various materials such as books, journals, magazines, newspaper articles,
etc.; looking for similar content online (i.e., on the Internet).

The project work was, therefore, carried out on the basis of the data collected therefore.
SOURCES OF DATA:

Primary data: Primary data has been collected by the following methods:

 Questionnaire

Secondary data: Secondary data has been collected by the following methods:

 Websites

 HR books

LIMITATIONS:

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

CHAPTER PLAN:

 Introduction
 Plan Of The Study
 Research Methodology
 Limitations Of The Study
 Data Analysis And Interpretation
 Findings
 Suggestions
 Recommendations
 Conclusion
 Questionnaire
 Bibliography
BIBLIOGRAPHY

BOOKS

・ Human Resource Management C.B.Memoria

・ Human Resources Management – Ashwathappa

・ Journals, Newspaper and Internet

WEBSITES

 www.employee-retention-hq.com

 www.employeeretentionconsulting.com

 www.retentionbenchmarking.com

 www.managementparadise.com

 www.citehr.com

 www.employeeretention.com

 www.employeeretentionstrategies.com

 www.highretention.com