.

INTRODUCTION

What is an organization?
A setup where individuals come together and work in unison to achieve a common
goal is called an organization. Individuals working together in an organization to earn
their bread and butter as well as make profits are called employees. Employees are the
lifeline of an organization and contribute effectively to its successful running and profit
making. An organization can’t survive if the employees are not serious about it and are
more concerned about their interests.

What is Employee Retention?

Employee retention refers to the various policies and practices which let the
employees stick to an organization for a longer period. Every organization invests time
and money to groom a new joiner, make him a corporate-ready material and bring him at
par with the existing employees. The organization is completely at a loss when the
employees leave their job once they are fully trained. Employee retention takes into
account the various measures taken so that an individual stays in an organization for the
maximum period.

Why do Employees Leave?

Research says that most employees leave an organization out of frustration and
constant friction with their superiors or other team members. In some cases, low salary,
lack of growth prospects, and motivation compel an employee to look for a change. The
management must try its level best to retain those employees who are important to the
system and are known to be effective contributors.
It is the responsibility of the line managers as well as the management to ensure that
the employees are satisfied with their roles and responsibilities and the job is offering
them a new challenge and learning every day.

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Need & Importance of Employee Retention:
• Hiring is not an easy process: The HR Professional shortlists a few individuals from a
large pool of talent, conducts preliminary interviews, and eventually forwards it to the
respective line managers who further grill them to judge whether they are fit for the
organization or not. Recruiting the right candidate is a time-consuming process.

• An organization invests time and money in grooming an individual and makes him
ready to work and understand the corporate culture: A new joiner is completely raw and
the management has to work hard to train him for his overall development. It is a
complete waste of time and money when an individual leaves an organization all of a
sudden. The HR has to start the recruitment process all over again for the same vacancy;
a mere duplication of work. Finding the right employee for an organization is a tedious
job and all efforts simply go waste when the employee leaves.
• When an individual resigns from his present organization, it is more likely that he
would join the competitors: In such cases, employees tend to take all the strategies, and
policies from the current organization to the new one. Individuals take all the important
data, information, and statistics to their new organization and in some cases even leak
the secrets of the previous organization. To avoid such cases, the new joint must be
made to sign a document that stops him from passing on any information even if he
leaves the organization.
• The employees working for a longer period are more familiar with the company’s
policies, and guidelines, and thus they adjust better: They perform better than individuals
who change jobs frequently. Employees who spend considerable time in an organization
know the organization in and out and thus are in a position to contribute effectively.
• Every individual needs time to adjust with others: One needs time to know his team
members well, be friendly with them and eventually trust them. Organizations are
always benefited when the employees are compatible with each other and discuss things
among themselves to come out with something beneficial for all. When a new individual
replaces an existing employee, adjustment problems crop up. Individuals find it difficult
to establish a comfort level with the other person. It is a human tendency to compare a
new joiner with the previous employees and always find faults in him.
• It has been observed that individuals sticking to an organization for a longer span are
more loyal to the management and the organization: They enjoy all kinds of benefits

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from the organization and as a result are more attached to it. They hardly badmouth their
organization and always think in favor of the management. For them, the organization
comes first and all other things later.

• It is essential for the organization to retain valuable employees showing potential:

Every organization needs hardworking and talented employees who can come out with
something creative and different. No organization can survive if all the top performers
quit. The organization needs to retain those employees who work hard and are
indispensable to the system.
• The management must understand the difference between a valuable employee and an
employee who doesn’t contribute much to the organization. Sincere efforts must be
made to encourage the employees so that they stay happy in the current organization and
do not look for a change.
Employee Retention Strategies:
• An employee looks for a change when his job becomes monotonous and does not
offer anything new. Everyone needs to enjoy whatever he does. The responsibilities must
be delegated according to the individual’s specialization and interests. It is the
responsibility of the team leader to assign challenging work to his team members for
them to enjoy work and not treat it as a burden. Performance reviews are important to
find out whether the employees are happy with their work or not.
• Constant disputes among employees encourage them to go for a change. Conflicts
must be avoided to maintain the decorum of the place and avoid spreading negativity
around. Promote activities that bring the employees closer. Organize outdoor picnics,
and informal get together for the employees to know each other better and strengthen
their bond among themselves. Let them make friends at the workplace whom they can
trust. Friendship among employees is one strong factor that helps to retain employees.
Individuals who have reliable friends at the workplace are reluctant to move on for the
sake of friendship. No one likes to leave an organization where he gets mental peace. It
is essential to have a cordial environment at the workplace.
• The human resource department must ensure that it is hiring the right candidate.
Frustration crops up whenever there is a mismatch. A finance professional if hired for a
marketing profile would end up being frustrated and look for a change. The right
candidate must be hired for the right profile. While recruiting a new candidate, one

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should also check his track record. An individual who has changed his previous jobs
frequently would also not stick to the present one and thus should not be hired.

• Employee recognition is one of the most important factors which go a long way in
retaining employees. Nothing works better than appreciating the employees. Their hard
work must be acknowledged. Monetary benefits such as incentives, perks, and cash
prizes also motivate the employees to a large extent and they prefer sticking to the
organization. The performers must have an upper edge and should get special treatment
from the management.
• Performance appraisals are also important for an employee to stay motivated and
avoid looking for a change. The salary hike should be directly proportional to the hard
work put in by the employees. Partiality must be avoided as it demotivates the talented
ones and prompts them to look for a better opportunity.
• The salary of the employees must be discussed at the time of the interview. The
components of the salary must be transparent and thoroughly discussed with the
individuals at the time of joining to avoid confusion later. The individuals should be
made to join only when the salary, as well as other terms and conditions, are acceptable
to them.
• The company’s rules and regulations should be made to benefit the employees. They
should be employee friendly. Allow them to take a leave on their birthdays or come a
little late once or twice a month. The management needs to understand the employees to
gain their trust and confidence. The consistent performers must also have a say in the
company’s decisions for them to feel important.

Role of Motivation in Employee Retention:

 Motivation plays an important role in employee satisfaction and eventually

employee retention. Nothing works better than motivation. Motivation acts as a
catalyst to an individual’s success. The team leaders and the managers must
constantly motivate the employees to extract the best out of them. If an employee
has performed exceptionally well, do appreciate him. Simple words like “Well
done”, “Bravo”, “Good”, and “Keep it up” actually go a long way in motivating
the employees. The top performers must be in the limelight. The employees must

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 feel indispensable to the organization. The employees need to be loyal to their
organization to deliver their level best.
 The superiors should send motivational emails to their team once a week.
Display inspirational posters, and photographs on the notice board for the
employees to read and stay motivated. It is natural for an individual to feel low
sometimes, but the superiors must ensure to boost their morale and bring them
back on track. No individual should be neglected or criticized. This demotivates
them. If they fail to perform once, motivate them and give them another
opportunity.

 Organize various activities and events at the workplace. Ask each one to take
charge of something or the other. Engage the employees in productive tasks
necessary for their overall development. The management must show its care and
concern for all the staff members. The employees must feel secure at the
workplace for them to stay motivated.Whenever any company policy is to be
formulated, the opinion of every employee should be taken into consideration.
 Invite all of them on a common platform and ask for their suggestions as well.
Freedom of expression is a must. Every employee must have a say in the
organization’s guidelines as they are made only to benefit them.
 Incentives, perks, and cash prizes are good ways to motivate employees. The
employees who have performed well consistently should be felicitated in front of
all the staff members as well as the management. Give them trophies or badges to
flaunt. Ask the audience to give a loud applause to the employees who have
performed well. This is a good way to motivate the employees for them to remain
happy and work with dedication for a longer duration. Others who have not
performed up to the mark also gear up for the future. The names of the top
performers must be put on the company’s main notice board or bulletin board for
everyone to see.
 Appraisals are also an important way to motivate the employees. The salaries of
the performers must be appraised at regular intervals- an effective way to retain
the employees. Career growth is an important way to retain talented employees.
Give them the power to take some decisions on their own but the management
must have a close watch on them so that they do not misuse their power.

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Role of HR in Employee Retention:

The Human Resource team plays an important role in employee retention. Let us find
out their role in the same:
• Whenever an employee resigns from his current assignments, it is the responsibility of
HR to intervene immediately to find out the reasons which prompted the employee to
resign. No one leaves an organization without a reason. There has to be one and the
human resource team must probe into it. There can be innumerable reasons for an
employee to leave his current job. The major ones are conflict with the superiors, lesser
salary, lack of growth, negative ambiance, and so on.

• It is the duty of HR to sit with the employee and discuss the various issues face to
face. Understand his problems and listen to his side of the story as well. Remember that
HR should not focus on conducting exit interviews, rather more emphasis should be laid
on retaining the employees.
• Try to provide a solution to his problem. Hiring is a tedious process and it is very
difficult to recruit the right candidate and train him once again. Do check the track
record of the employee who wishes to move on. The management needs to retain those
employees who have the potential and are indispensable to the organization. If they leave
and join the competitors; the organization would be at loss. If one feels that the
employee is not very happy with his team leader, try to shift him to a new team. If the
employee feels his salary is not justified, try to give him a hike but make sure he is worth
it and you don’t end up upsetting others
• The HR person must ensure that he is recruiting the right employee who fits into the
role. A right person doing the wrong job would never find his job interesting and
certainly, look for a change. Make sure every individual has been assigned
responsibilities according to his specialization and interest. The employees must be clear
with their KRAs from the very beginning.
• The human resource department must conduct motivational activities at the
workplace. Organize various internal as well as external training which helps the
employees to learn something extra apart from their routine work. Make them participate

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 in extracurricular activities important for their overall development. Encourage them to
interact with each other so that their comfort level increases.
• HR must launch various incentive schemes for the top performers to motivate them.
This way the employees feel important to the organization and strive hard to perform
even better the next time. The employees who show promise should be awarded cash
prizes, lucrative perks, and certificates to make the individual stand apart from the
crowd. Send a mail wishing the employees on their birthdays or congratulating them
when they perform exceptionally well or come out with something innovative. Arrange a
small bouquet for them as a gift from the organization’s side. This way the employees
feel attached to the organization and are reluctant to look for a change. A friendly
atmosphere is essential for the employees to feel safe and secure. Make them participate
in various management decision-making.

• Performance reviews are a must. The HR along with the respective team leaders must
monitor their team member’s performance to ensure whether they are enjoying the work
or not. The employees look for a change only when their job becomes monotonous and
does not offer any growth or learning. Job rotation can be one of the effective ways to
retain employees.
Employee Engagement and Employee Retention:
What is employee engagement?
 Employee engagement refers to a situation where all the employees are engaged in
their work and take a keen interest in the organization’s activities. An engaged
employee is focused, enjoys his work, and learns something new each day.An engaged
employee is satisfied with his work and would never think of quitting his job. He is the
one who willingly accepts responsibilities and looks forward to a long-term association
with the organization.
 Lack of challenging work is one of the major reasons why an employee decides to
move on. An individual should be delegated responsibilities as per his specialization
and background for him to perform up to the mark. An employee delivers his hundred
percent when he does something which interests him.
 Problems crop up when individuals have nothing creative and challenging to do. An
employee must foresee a bright future and better growth prospects in the organization
for him to stick to it for a longer duration. An engaged employee always stays

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 motivated in his current assignments and does not look for opportunities outside. Why
does an individual always look for challenges outside, why can’t he improve the
conditions in his organization? Monotonous work demotivates an individual and
prompts him to look for a change.
 As they say “an empty mind is a devil’s workshop”. In the same way, idle employees
are the ones who loiter around and spread negativity all over the place. They are the
ones who provoke others to fight amongst themselves. Individuals who have nothing
to do at the workplace kill their time by gossiping around and badmouthing their
organization. They always talk negatively about the management and encourage others
to move on.
 The team leaders and the management must take the initiative to assign challenging
work to the subordinates so that they do not treat their work as a burden. An employee
must be asked to do something innovative every time.

 An individual engaged in his work strives hard to deliver his level best and live up to
the expectations of the management everytime. He looks forward to achieving his
organization’s targets and thus making it one of the best places to work.An employee
who is busy with his work stays away from nasty politics and backstabbing and thus
maintains the decorum of the office. He prioritizes his work and does not get time for
controversies. Individuals are reluctant to leave when they enjoy a cordial relationship
with their colleagues.
 Everyone expects a stress-free environment at the workplace and tends to leave only
when there are constant disputes. No one likes to carry tensions back home. An
engaged employee does not get time to participate in unproductive tasks instead
finishes his assignments on time and benefits the organization.
 The team leaders must monitor the performance of the team members to ensure
whether they are satisfied with their profile or not? Performance reviews are a must to
make sure everyone finds his job interesting. Discussions are essential in the
workplace and everyone should have the liberty to express his opinions in an open
forum. Don’t impose things on anyone. Let people decide for themselves what best
they can do. This way employees are satisfied with their work and never look for a
change.

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  One should always remember that office are meant to work and not for fun. For an
individual, his work should come first and everything else later.

LITERATURE REVIEW

REVIEW OF LITERATURE TIPS TO INCREASE EMPLOYEE RETENTION (Franke

Mor, 2001) Staff retention is primarily done to ensure the company's continuous development
in terms of production, sales, and monetary advantages, as well as to minimize employee
turnover by lowering the cost of employee recruiting, training, and other expenses. The
human resource management team must take proactive measures to retain essential and
effective employees for long-term advantages and future company gains and success.
Examine the factors that will encourage them to remain with your business and ensure that
they are applied. The organization system's feedback procedure should be easy and quick. It
has the potential to improve staff morale and retention. Staff pay is also a key component of
employee retention plans. Fair and competitive pay packages encourage employees to desire
to remain with the business. Upper management should be familiar with their names, talents,
and business requirements. Create chances for your employees' professional development and
progress. You may help them adopt new methods in their job by providing training or
resources.

Employee Retention: 10 Strategic Tips (Jaime Menor, 2009)

1. Maintain a healthy work-life balance.

2. competitive Salary package

3. Treat each employee with dignity and respect.

4. A pleasant working atmosphere

5. Get Rid of Favoritism

6. Availability and communication

Employee Empowerment is number seven.

8. Identifying and Recruiting the Best People for the Job

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9. Recognize and celebrate little and large achievements, and make the workplace enjoyable.

10. Flexibility in the workplace

How Can You Improve Employee Retention? (Brad Booysen, 2011)

Every business needs bright, hardworking employees, and the best way to maintain them is to
keep them happy. That is why having a plan for staff retention is critical. You may utilize the
following employee retention techniques to retain workers "on your team."

- Boost communication:

Share your company's goal with your employees and make them feel like they're a part of it.
Communicate your passion for your company's work so that workers understand the "larger
picture" and how they fit in. Hold regular meetings with workers to get feedback on their
work.

- Recognize employee accomplishments to improve retention:

Recognize and reward effective and motivated workers, and make them feel like they're a
member of the company's "family" by acknowledging personal accomplishments. Host a
nutritious team lunch to thank workers for their hard work on a project.

- Maintain their health:

Employees who are in good health are more productive. To check for health issues, sponsor
health screening programs. Invite nutrition and physical fitness professionals to speak to
workers about the importance of keeping active and eating healthier foods. A productive
employee is in good health.

- Workplace stress reduction:

-Encourage workers to take brief breaks or go for a stroll outside. Maintain an open-
door policy and encourage workers to share stress-related problems so that you can
assist them in resolving them. Experts should be brought in to discuss how to cope
with work-related stress. Employees are healthier and happier when they are
surrounded by humor, which is a positive thing when it comes to employee retention.

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-Plan for Employee Retention (Ivo Legenda, 2011)

-To enhance their existing Employee Retention Rate and create high-performance
groups, smart businesses adopt Employee Retention Plans. How can you create an
employee retention strategy? To begin, you must first determine the most significant
determinants of Morale, Loyalty, and Satisfaction. Employee Retention Rate is
influenced by a variety of variables, including the general business environment,
policies, culture, work environment, and employee development. The most important
aspect of a good retention strategy is to have a high-retention workforce. Develop
appropriate incentives for your employees and improve morale via an effective
reward and recognition system. Employee surveys are used to assess employee
happiness and identify key problems that affect them. Employee happiness is also
influenced by achievements and accolades. Your Retention Plan will also benefit from
reward and recognition programs. Employee Retention Plans should be tailored to the
needs of your company and its workers.
-Employee Retention Guidelines from Executive Search Firms (Charles S. Cox, 2012)
-To begin, businesses must recognize that recruiting and retaining competent workers
is tough under the best of circumstances, but it is much more difficult when the
economy is in a downturn and the job market is inundated with underqualified
candidates. Furthermore, to retain their talent, businesses must shift their mindset
from viewing employees as tools to seeing them as people who need to be supported
and encouraged if they are to be successful and contribute to the company's
objectives. Here are some staff retention suggestions from executive search firms to
assist businesses in their efforts.

• Keeping yourself motivated

• Assisting with the Corporate Ladder

• Creating a Brand

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• Relationship-Building

• Making Decisions in an Open Environment

• Give yourself time to listen.

• effective Management

• Be encouraging.

• Develop into more than a company

• Communicate the company's vision

 Employee Retention Through Effective Management is a focus of executive search

firms (By Charles S. Cox, 2012) Maurice G. is a co-author. To begin, companies
should maintain contact with their workers while also keeping an ear to the ground for
any rumblings that may indicate employee discontent. Managers who pay close
attention to their employees may frequently identify early signs of discontent and
dissatisfaction. Individuals who seem detached or have exhibited a significant change
in their working habits and conduct are other indications that workers may be
dissatisfied with their jobs and contemplating leaving. All of these are problems that
managers should be able to detect by closely monitoring their workers' actions and
conduct. It is critical that not just senior managers, but all levels of management, as
well as team leaders, be taught to closely watch their employees for indications that
they may be dissatisfied with their jobs and contemplating leaving. The necessity for
managers to have previously established connections with their workers is critical to
the success of the preceding principles. Finally, managers should attempt to
understand their workers' objectives and desires, expanding on the preceding point.
 Techniques for Keeping Employees (Nate Rodnay, 2005)
 Employees are a vital resource for any company. Focusing on staff retention strategies
may have a beneficial effect on the company.
 Increase Employee Engagement: Increasing employee engagement guarantees that
workers are pleased with their work, take pride in their work, report to duty on time,

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 feel accountable for their work, are appreciated for their contributions, and have a
high level of job satisfaction.
 Employee Retention may be aided by motivating workers by providing them with
greater career development options. Giving them incentives, recognitions,
promotions, and gratitude may help them become more productive, committed to their
jobs, and loyal to the company.

 Focus on Team Building: Team building encourages teamwork and effort, which
helps employees deal with job pressure and gives the company a competitive edge.
Working in a team and focusing on team-building activities may assist to minimize
workplace disputes amongst team members.
 Recognition of Performance: While monetary remuneration may be motivating,
publicly acknowledging an employee's performance, initiative, and hard work boosts
morale and encourages them to work more efficiently.
 The Advantages of Retaining Employees (Dipika Patel, 2010) Employee retention is
an important element of operating a successful company, and human resources
managers who can retain their employees reap a variety of advantages. One of the
most important benefits of maintaining a steady staff is that you will be able to build
and maintain a solid knowledge base across your organization, with a committed
backbone of workers who can handle day-to-day tasks with ease. This type of
knowledge is essential because it allows you to maximize earnings when times are
good while minimizing the effect of downturns. Workers who have been with the
company for a long time are also better at dealing with issues and teaching new
employees. Importantly, a seasoned staff provides a positive example for new hires,
demonstrating that the workplace is not just fun, but also stable and supportive.
Studies have also shown that people who feel safe in their employment are happier
and work more, implying that there are a variety of performance advantages.
Organizations that fail to retain their finest employees, on the other hand, may find it
difficult to compete, especially in difficult economic times. These businesses will not
only struggle to recruit the most sought-after talent if their staff turnover is excessive,
but they may also find that their existing workers are being poached by rivals with a
stronger reputation. These factors are why HR managers place a high priority on

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 employee retention and motivation, using a variety of strategies to keep employees
satisfied. Many employees cite their employer's inability to express gratitude or
provide feedback as a major reason for leaving their prior position. This implies that
offering incentives and awards may help boost employee morale while also
demonstrating that you value their efforts to the business. For businesses that see
employee retention as a major area for improvement, there are several options. One
strategy is to implement an online point system that enables workers to earn points in
a variety of ways and keep them in an online account. The use of an online platform
to track the project fosters a sense of community, with leader boards, weekly emails,
and frequent updates bringing everyone up to speed on what's going on in the
company.

Practices That Will Almost Certainly Improve Your Office's Employee Retention (Ashok
Grover, 2012)

You don't need to read anymore if staff retention isn't a problem at your company. There's a
good probability that either your company doesn't belong in this environment or that it has
fully grasped and implemented the trade secrets! For the rest of us, all of these secrets are
exposed here!

Having the Right Individuals - Before you speak about retention, go back to the beginning
and choose the people you want to keep. If adequate time and effort are put into checking not
just technical but also behavioral aspects, the outcome will be workers who want to remain
and a business that wants to keep them.

Competitive Salary - While money isn't everything, it is a powerful equalizer. Unfortunately,

although many businesses believe that money is the only thing that counts, others believe that
money is irrelevant. The reality resides somewhere in the middle, requiring a delicate
balancing act.

Internal Pay Equity - In many cases, the source of suffering is not one's lower pay, but rather
the disproportionately larger amount given to another colleague. Employees have been
spotted leaping with excitement when their raises are announced... until they learn about
others. Similarly, a new employee may irritate older workers who are not receiving
comparable pay, or vice versa, if the newcomer knows he might have bargained better.
They're all human beings, and there's nothing wrong with that.
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 Benefits Programs and Retirement Benefits - Benefits programs such as health insurance,
leisure facilities, family get-togethers, and retirement benefits are very essential, even in the
face of CTCs (cost to the business). Employees will feel like they are part of a close-knit
family and will be more driven as a result of this.

Job Clarity - Nothing is more harmful than a job with unclear duties. In such circumstances,
workers' performance falls well short of expectations, although they believe they are doing
far more than they should. As a consequence, the relationship becomes a dismal lose-lose
situation.

Impartiality - When employees believe they are not treated fairly and that favoritism is
prevalent in the workplace, they become extremely demotivated. When rules containing
provisions enabling management discretion are in place, this always occurs.

Employee Empowerment - When employees are given responsibilities and the flexibility to
do them autonomously, they perform significantly better. Superior performance will be
achieved in workplaces that encourage employee empowerment, staff enablement, and wider
spans of control by management. Micromanagement repels workers, while empowerment
encourages them to stay.

Responsive Human Resource Team - The Human Resource department's adequate and quick
reaction to employee questions and complaints maintains the atmosphere healthy. In many
businesses, the HR department is seen as management's policy arm. One of the most
compelling reasons for excellent employee retention is a responsive HR department.

Two-way communication - When employees believe they are being heard, they feel
considerably more at ease. This is amplified when they have face-to-face contact with their
bosses and get constructive feedback on their work. This communication makes them feel
valued and acknowledged.

performance-linked Reward System - Performers feel that rewards should be earned via merit
and contribution. When a company's management tries to keep all of its workers happy by
giving them identical yearly raises, it leads to demoralization. While the status of bad
performers remains a question mark in this instance, top performers see no need to continue
with the company.

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Learning Environment - Employees are always looking for new ways to learn and share what
they've learned. Involving them in training sessions, team tasks, and mentor-mentee roles
increases their internal self-satisfaction, which is critical for employee retention.

Workload Balance - If it's just once in a while, no one dislikes working long hours. However,
the constant necessity to remain late at work saps their drive, and efficiency suffers as a
result. This is occurring more often now because finding qualified and experienced personnel
to fulfill rising company needs is becoming more difficult. To address this, businesses should
provide workers with the tools they need to manage work and personal life. It is beneficial to
encourage workers to participate in continuous improvement initiatives.

Employee Involvement - Involving workers in choices that affect their employment and the
company's broader strategy helps them feel valued.

Improve Employee Retention by Engaging Employees (Abblig Beals, 2011)

Most businesses are feeling the strain of keeping workers for extended lengths of time. This
phenomenon is the result of an increase in the number of possibilities for genuinely motivated
and talented people, as well as employees' frustration with remaining with the same business
for extended periods. As a result, businesses all over the world are searching for methods to
improve employee retention. Employee engagement is one of the most sought-after formulae
for employee retention, as shown by the numerous methods that have been investigated. So,
what exactly does employee involvement entail? Although the solution rests on the specific
requirements of the workers, a broad idea is presented as the employees' engagement with the
company and its principles. Are the workers just going through the motions or are they a vital
part of the organization? The more people lean toward the latter, the more self-motivated they
are, and the more they love their employment and therefore remain with them for longer.
People must be taught to build self-leadership abilities based on their motivations and
objectives in their careers and lives. One thing that must be understood is that pay alone is
insufficient to motivate employees. Other motivational elements must exist to allow workers
to interact with the organization's objectives. Companies must engage with their workers to
learn about additional factors such as why they like working for the business and what
aspects of their job profile are the most inspiring. While it seems to be an easy job, getting
workers to reflect and investigate the true answers to these questions is a difficult challenge.
Above and beyond that, the employer must devote some time to analyzing employee input.

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The comments may be on anything about the company, including its marketing efforts,
human resources, work environment, and so on. Employees will feel more responsible for the
company as a whole and will be more engaged as a result. Life by Design is dedicated to
raising employee engagement standards all around the world. Instead of pure employee
engagement, the business recognizes the true benefit of engagement and invests in Employee
Activated Engagement. It has produced effective and long-lasting outcomes for its customers
as a consequence of its efforts and adroitness.

1.TITLE: Organizational Culture and Employee Retention

JOURNAL:Academy of Management Journal (VOL. 35, NO. 5)

This study investigated the retention rates of 904 college graduates hired in six public
accounting firms over six years. Organizational culture values varied significantly
among the firms. The variation in cultural values had a significant effect on the rates at
which the newly hired employees voluntarily terminated employment. The relationship
between the employees' job performance and their retention also varied significantly
with organizational culture values. The cultural effects were stronger than the combined
exogenous influences of the labor market and the new employees' demographic
characteristics. The cultural effects are estimated to have resulted in over six million
dollars' difference in human resource costs between firms with different cultural values.
Implications for research on person-organization fit are discussed.

2.TITLE:A study on Employee Retention Factors in the Indian

Banking Industry –An Empirical study Published by Biju Roy (Volume 3,
Issue 3, March 2015)

Human resource is one of the most valuable assets for any organization it is the source
of achieving competitive advantage. Managing human resources is very challenging as
compared to managing technology or capital and for its effective management. An
organization requires an effective HRM system. The retention of human resources is
momentous to the development and accomplishment of the organization’s goals and
objectives. The main determinants for employee retention such as career development
opportunities, superior, support, work environment, rewards, and work-life policies and
recognition have a great paradigm to retain the employees for a longer period. In this

17
paper, an attempt has been made to assess the impact of HRM practices and their
effectiveness.

3.TITLE: Employee retention

Published by Bidisha Lahkar Das, Dr. Mukules (Volume 14, Issue 2 (Nov – Dec.
2013))

Human resources are the life-blood of any organization. Even though most
organizations are nowadays, found to be technology-driven, human resources are
required to run the technology. They are the most vital and dynamic resources of any
organization. With all-around development in every area of the economy, there is stiff
competition in the market. With this development and competition, there are lots and
lots of avenues and opportunities available in the hands of human resources.

4.TITLE: Employee Retention Strategies – An Empirical Research

published By Dr. K. Balaji Mathimaran & Prof. Dr. A. Ananda Kumar

Human resources are the livelihood of all types of an organization. Even though all
types of organizations are nowadays, found to be technology-driven, human resources
are required to run the technology. With all-around development in every area of the
economy, there is stiff competition in the market. With this development and
competition, there are lots and lots of avenues and opportunities available in the hands
of human resources. The biggest challenge that organizations are facing today is not
only managing these resources but also retaining them. Securing and retaining skilled
employees plays an important role in any organization because employees’ knowledge
and skills are central to companies’ ability to be economically competitive. Besides,
continuously satisfying the employees is another challenge that employers are facing
today. Keeping into account the importance and sensitivity of the issue of retention to
any organization, the present study tries to review the various available literature and
18
research work on employee retention and the factors affecting employee retention and
job satisfaction among employees.

5.TITLE: Employee retention by motivation

Published by K. Sandhyal and D. Pradeep Kumar (Volume 4 no. 12 (Dec 2011))

Employee motivation is one of the important factors that can help the employer to
improve employee and organizational performance. Different theories of motivation are
discussed. The paper concludes that employee retention can be participated better by
motivating the employees in the following aspects: Open system communication,
employee reward program, career development program, performance-based bonus,
recreation facilities, gifts on some occasions

Employee Retention is defined as an organization’s ability to retain its employees. It can

also be called a process, in which the resources are motivated and encouraged to stay in an
organization for a longer period for the sustainability of the organization.

The ultimate aim of Employee Retention is to make both the stakeholders, i.e., employees
and employer happier. It facilitates loyal employees sticking to the company for a longer
duration, which in turn will benefit both the stakeholders.

Employee retention is not just a matter that can be dealt with records and reports. It purely
depends upon how the employers understand the various concerns of the employees and how
they help them resolve their problems when they are in need.

Every organization spends time and invests money in grooming new employees and making
them corporate-ready. The organization will be ata complete loss if such employees quit after
they are fully trained.

An organization needs to attract, hire, and retain the right resources. Most organizations are
very effective when it comes to attracting and hiring new talents, but they fail in retaining the
same talents.

There can be many reasons for an employee to leave an organization. An organization needs
to know the reasons, which can help the organization in making the job attractive and
encourage the employees to stay with the organization.

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The first and foremost requirement is to measure the key factors which influence the retention
rates, such as salary expectations, employee engagement, working environment, and
boss/managers. Once these measurements are identified, the initiatives are to be planned and
to be implemented tothe improvement of the retention rate.

I'm an organization, the core driver of retention policies are the strategies behind them. The
team of line managers and the leaders are the owners of the documentation and the HR
department has to measure the progress, successes, and failures of the strategies applied. The
ownership of the strategies falls on the team of line managers and the leaders, who need to
protect the work interests of the employees and retain them.

Finally, the retention program has to be measured. The HR department has to measure the
performance of the retention plan. They should measure the difference in the turnover, the
development of attrition, and the satisfaction of employees in the program

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RESEARCH METHODOLOGY:

RESEARCH DESIGN:

A research design is the arrangement of conditions for collection and analysis in a

manner that aims to combine relevance to the research purpose with economy in procedure.
Research design is the conceptual structure within which research is conducted it constitutes
the blueprint for the collection, measurement, and analysis of data. This project uses the
descriptive type of research design which describes the characteristics of the group,
individual, or situation.

A descriptive study involves the following steps:

 Formulating the objectives of the study.

 Defining the population and selecting the sample.
 Designing the method of data collection.
 Analysis of the data.
 Conclusion and recommendation for further improvement in the practices.

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.

TYPE OF UNIVERSE:

The first step in developing any sample design is to clearly define the set of objects
called the universe to be studied. The universe can be finite or infinite. In the finite universe,
the number of items is certain but in the case of an infinite universe the number of items is
21
infinite i.e., we cannot have any idea about the total number of items. In this project the type
of universe is finite.

SAMPLING UNIT:

A sampling unit has to be decided before selecting the sample. Sampling units may be
geographical ones such as state, district, village, etc., or a construction unit such as a flat,
house, etc. or it may be a social unit such as a family, club, school, etc. or it may be an
individual. In this, the sampling unit is the manufacturing operations (PLANT) BIG
BAZAAR.

SAMPLING SIZE:

This refers to the number of items to be selected from the universe to constitute a
sample. The size of the sample should neither be excessively large, nor too small. It should be
optimum. An optimum sample fulfills the requirements of efficiency, representativeness,
reliability, and flexibility. Of the total number of employees, 25 have been selected for this
project.

DATA COLLECTION METHOD:

Primary data are those which are collected for the first time and thus happen to be
original. In this primary data are collected using questionnaires.

22
OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE:

• To know the importance attached to employee retention in the organization.

SECONDARY OBJECTIVE:

• Strategies employed by the company to retain the efficient employee.

• To reduce the cost of turnover.

• To maintain the goodwill of the company.

• To analyze employee perception of retention strategies.

• To reduce attrition ratio.

• To satisfy the employee.

• To develop new retention strategies.

SCOPE OF THE STUDY

This project has been prepared with an intention to make one realize and understand the
significance of employee retention.

It is not about managing retention; it is about managing people. If an organization manages

people well, employee retention will take care of itself. People want to work for an
organization that provides:

• Appreciation for the work done.

• Ample opportunities.
23
• A friendly and cooperative environment.

• A feeling that the organization is a second home to the employee.

Employee retention has become the major goal of the organization. Initially, recruitment was
only talked about, but now in today’s world, recruitment has become just a part of HRM.
Major importance is attached to employee retention.

This project not only aims to present the theoretical aspects but the practical aspects as well.
A survey has been done to understand the strategies followed by various organizations to
ensure employee retention.

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LIMITATIONS OF THE STUDY

However, I shall try my best in collecting the relevant information for my research report, yet
there are always some problems faced by the researcher. The prime difficulties which I face
in the collection of information are discussed below: -

 The data collected is based on the questionnaire.

 The result would be varying according to the individuals as well as time.

 Some respondents hesitated to give the actual situation; they feared that
management would take any action against them

 The findings and conclusions are based on the knowledge and experience of the
respondents sometime may be subject to bias.

 The period for carrying out the research was short as a result of which many facts
have been left unexplored.

 Lack of time and other resources as it was not possible to survey large level.

 Only 40 employees have been chosen which is a small number, to represent the whole
of the   population

 While the collection of the data many consumers were unwilling to fill out the
questionnaire. Respondents were having a feeling of wastage of time for them

25
 INTRODUCTION

ICT Group, Inc. is currently experiencing the effects of increased employee turnover rates.
Rather than being an isolated issue, employee turnover faces the nation as a whole. This issue
costs companies millions in the expenses needed to recruit and train new employees.
Employee turnover rates are linked to corporate structure and environment and can therefore
be modified through policy changes.

Increasing Turnover Rates

Employee turnover rates have, within the last several years, become a nationwide epidemic.
Employees no longer feel the sense of company loyalty that once existed. Increasing
numbers of corporate mergers and acquisitions have left employees feeling detached from the
companies that they serve and haunted by concerns about overall job security. As a result,
workers are now making strategic career moves to ensure employment that meets their need
for security.

This fact is represented by growing employee turnover rates. In a recent article, the
Employment Policy Foundation (EPF) (2004) highlights that “for the twelve months ending
August 2004, average employee turnover costs reached $13, 355, up 6.8 percent from its
December 2002 level” (p. 2). The voluntary employee turnover rates released by the U. S.
Department of Labor in November 2004 paint a similar picture. According to the Bureau of
Labor Statistics, there was an overall average increase in employee turnover in the U. S. from
19.2% in 2003 to 20.2% in 2004. Weinberg (1997) reports that “too many service companies
face employee turnover rates of 50 percent to 100 percent per year or even higher” (p. 4).

26
In addition to elevated employee turnover rates being a frustration for employers, they can
become a financial concern as well. The EPF believes average turnover costs to be 25 percent
of an employee’s annual salary (2004). Other studies have proposed that the cost of replacing
lost talent is even higher, as much as 70 to 200 percent of that employee’s annual salary
(Kaye, 2000). Expanding on these thoughts, the EPF (2004) stated that “for a firm with
40,000 full-time employees, the difference between a 15- percent turnover rate and a 25-
percent turnover rate is over $50 million annually. The difference between a 15-percent
turnover rate and a 40-percent turnover rate is over $130 million annually” (p. 2).

Kay (2000) justifies such costs in “…advertising and recruiting expenses, orientation and
training of the new employee, decreased productivity until the new employee is up to speed,
and loss of customers who were loyal to the departing employee” (p. 9). The costs mentioned
above touch upon another area of concern: productivity. When a high rate of employee
turnover exists, most of the workforce is at an entry-level stage of production. A very high
cost is associated with large numbers of employees who have not reached full productivity.
This cycle continues with very few employees performing at maximum productivity.

Tricks to Improve Employee Retention (Franke Mor, 2001)

Employee retention is mainly done to assure the constant growth of the company in
terms of production, sales, and monetary gains and reduce employee turnover by cutting
down on the cost of employee hiring, training, etc. It is the responsibility of the human
resource management team to take initial steps to retain their important and productive
workers for long-term benefits and prospects of business gains and success. Carefully analyze
the reasons that would motivate them to stay in your company and make sure they are
implemented. The feedback process of the organization system should be simple and short. It
can work for boosting employee morale and helps increase retention. Employee
compensation also plays an important role in employee retention strategies. A fair and
competitive salary package gives the workers an incentive to want to stay in the company.
Upper Management should know their name, skills, and specifications in business. Create
opportunities for better professional development and growth for your workers. You can
provide training or tools to implement new techniques in their work.

10 Strategic Tips for Employee Retention (Jaime Menor, 2009)

27
  Balance work and personal life
 Competitive compensation package
 Treat each employee with respect and as an individual
 Positive Work environment
 Eradicate Favoritism
 Communication and availability
 Employee Empowerment
 Placing the Right Talent for the Right Job
 Celebrate successes, big and little, and make the workplace fun.
 Workplace flexibility

How to Increase Employee Retention (Brad Booysen, 2011)

Every company needs talented, hard-working staff, and the best way to retain good
workers is to keep them happy. That's why having an employee retention strategy is
important. Here are some employee retention strategies you can use to keep employees "on
your team."

Encourage communication:

Share your company's vision with staff and make them feel part of the plan.
Communicate your enthusiasm for what your company does so that employees see the
"bigger picture" and how they fit into it. Have monthly meetings with employees to get
feedback on their job performance.

Recognize employee achievements for better employee retention:

Recognize employees who are productive and motivated, and make them feel part of
the business "family" by recognizing personal achievements. Reward employees as a team for
working hard on a project by hosting a healthy team lunch.

Keep them healthy:

Healthy employees are more productive. Sponsor health screening programs to check
for health problems. Bring in experts on nutrition and physical fitness to talk to employees

28
about staying active and making healthier food choices. A healthy employee is a more
productive one.

Reduce stress in the workplace:

Encourage employees to take breaks or take a short walk outdoors. Keep an open door
and encourage employees to discuss stress-related issues so you can help correct them. Bring
in experts to talk about how to deal with work-related stress. Humor keeps employees healthy
and happy - and that's a good thing when it comes to employee retention.

Employee Retention Plan (Ivo Legenda, 2011)

Smart companies develop Employee Retention plans to improve their current

Employee Retention Rate and develop high-performance organizations. How do you develop
your Employee Retention Plan? First of all, you need to identify the most important drivers of
Morale, Loyalty, and Satisfaction. Employee Retention Rate depends on many factors such as
overall company environment, company policies, company culture, work environment,
employee development, etc. Creating a High Retention Workforce is the number one priority
of a successful Retention Plan. Improve morale through an effective rewards and recognition
system and develop relevant rewards for your workforce. Employee Surveys are used for
measuring employee satisfaction and identifying important issues for your employees.
Achievements and recognitions are also important for employee satisfaction. Rewards and
recognition systems are also important for your Retention Plan. Employee Retention Plan
should be customized to your business and employees.

Executive Search Firms on Employee Retention Guidelines (Charles S. Cox, 2012)

To start, organizations need to understand that finding and acquiring talented

employees is difficult at the best of times, and all the more so when the economy is in a
slump and the job market is being flooded with under-qualified individuals. What's more, to
retain the talent they have, companies will need to stop seeing these individuals as tools and
as individuals who should be supported and encouraged if they are to be effective and help

29
the company achieve its goals. To help guide companies in these endeavors, here are some
employee retention tips courtesy of executive search firms.

 Keeping Motivated
 Providing the Corporate Ladder
 Developing a Brand
 Building Relationships
 Open Decision Making
 Take Time to Listen
 Effective Management
 Be Supportive
 Become More Than a Business
 Share the Company Vision

Executive Search Firms Look at Employee Retention Through Effective Management

(By Charles S. Cox, 2012) Co-Author: Maurice G.

For starters, employers should stay in touch with their employees as well as keep an
ear to the ground for any rumblings which may be warning signs of instances of employee
dissatisfaction. If managers remain attentive enough, they can often detect early signs of
agitation and unrest in their personnel. Other signs that employees may be less than satisfied
in their positions and considering jumping ship can be seen in individuals who seem
disconnected or have shown a marked difference in their working habits and behavior. All of
these factors are issues that managers should be able to catch by paying close attention to
their employees' behavior and activities. It is important that not only top managers, but those
on all levels, as well as team leaders, be trained to carefully monitor their personnel for signs
that individuals may be becoming disenfranchised in their role and considering leaving.Key
to the success of these previous points is the need for managers to have previously developed
relationships with their employees. Finally, building on the previous point, managers should
seek to gain an understanding of their employees' goals and ambitions.

Employee Retention Techniques (Nate Rodnay, 2005)

Employees are a valuable asset to any organization. Focusing on employee retention

techniques can positively impact the organization.

30
Increase Employee Engagement: Effectively implementing an employee retention program
by increasing employee engagement ensures that the employees are satisfied with their work,
take pride in their work, report to duty on time, feel responsible for their job, feel valued for
their contributions, and have high job satisfaction.

Motivate Employees: Motivating employees by offering them better opportunities for career
development can help in employee retention. Giving rewards, recognitions, promotions, and
appreciation can motivate them to increase their productivity, commitment to work, and
loyalty to the organization.

Focus on Team Building: Team building promotes teamwork and team effort that helps
them to tackle work pressure and thus provide a competitive advantage to the organization.
Focusing on team-building activities can help to reduce workplace conflicts between team
members as they work in a team.

Recognition of Performance: Although monetary compensation can act as a motivating

factor, openly recognizing the performance, initiative, and good work increases morale and
motivates the employee to work more productively.

The Benefits of Employee Retention (Dipika Patel, 2010)

Employee retention is a vital part of running a successful business, with a range of

benefits experienced by human resources professionals who manage to keep hold of their
staff. A key advantage to sustaining a stable workforce is that you will be able to establish
and maintain a strong knowledge base throughout your company, with a dedicated backbone
of employees being able to carry out everyday duties with ease. This kind of experience is
vital, allowing you to maximize your profits when business is good while lessening the
impact of downturns. Long-term employees are also able to deal with problems more easily,
as well as being more effective at training new staff. Importantly, an established workforce
sets a good example for new personnel, encouraging that the business environment is not
only enjoyable but stable and supportive. Studies have also proven that individuals who feel
secure in their jobs are happier and work harder, meaning there is a range of benefits from a
performance perspective. However, organizations that fail to hold on to their best people may
struggle to compete, particularly in adverse economic conditions. Not only will these
enterprises find it difficult to attract the most sought-after talent if they have a high staff
turnover, but they may also discover their current employees are being snapped up by
31
competitors with a better reputation. These considerations are why HR managers prioritize
staff retention and motivation, utilizing several methods in an attempt to keep personnel
happy. A primary reason many workers give for having left their previous role is their
employer's failure to show appreciation or give feedback. This means providing incentives
and rewards can be highly effective in raising morale, while also showing that you are aware
of their valuable contributions to the company. There are a variety of schemes available for
organizations looking at staff retention as a key area in which to improve. One method is to
introduce an online point scheme, which allows employees to collect points through various
means and store them in an internet account. Using an online website to monitor the initiative
also creates a team atmosphere, with leader boards, weekly emails, and regular updates
keeping people informed of what is going on in the business.

Practices That Will Surely Improve Employee Retention in Your Office (Ashok Grover,
2012)

If employee retention is not an issue with your organization, you need not read any
further. There is a fair chance that either your organization does not belong to this world or it
has perfectly understood and put into practice the secrets of the trade!For others, all these
secrets are revealed hereunder!

Having Right People - Before talking about retention, go back to the basics and select the
people you would like to retain. If enough time and effort are spent to check not only
technical but behavioral aspects also, the result will be the employees who would like to stay
and the company would like to retain.

Good Salary Levels - Though money is not everything, it is a big equalizer. Unfortunately,
while many companies feel that it is only the money that matters, others feel that money does
not matter at all. The truth lies somewhere in between and a fine balancing act is required.

Internal Pay Equity - Many times, the pain point is not one's lower salary; but a
comparatively higher amount being paid to another colleague. I have seen employees
jumping with joy after their increments are announced... till they know about others.
Similarly, a new employee may disturb older employees who may not be getting similar
amounts or vice versa when the newcomer realizes that he could have negotiated better. All
of them are human beings and there is nothing wrong with comparison.

32
Benefits Programs and Retirement Benefits - Even in the environment of CTCs (cost to the
company), benefits programs like health insurance, recreation facilities, family get-togethers,
and retirement benefits are extremely important. These make employees feel part of a close-
knit family and remain motivated.

Role Clarity - Nothing can be more damaging than a lack of clear job responsibilities. In
such situations, contrary to normal belief, employees' performance is well below
expectations, while they feel that they are much more than they should be. So, the result is a
hopeless lose-lose relationship.

Impartiality - Employees feel highly demotivated when they feel that they are not treated
equally and favoritism is practiced in the company. This invariably happens whenever there
are policies with clauses allowing management discretion.

Employee Empowerment - Employees perform much better when they are given the tasks
and freedom to perform the same independently. Workplaces that promote employee
empowerment, employee enablement, and broader spans of control by managers, will result
in superior performance. Micromanaging drives employees away, and empowerment
improves retention.

Responsive Human Resource Team - Adequate and timely response to employee queries
and concerns by the Human Resource department keeps the environment healthy. In many
companies, the HR department is perceived as the policing arm of management. A responsive
HR department is one of the strongest reasons to ensure a high degree of employee retention.

Two-Way Communication - Employees feel much more comfortable when they feel that
they are being heard. This multiplies when they get face-to-face communication opportunities
with their supervisors and are given feedback about their performance. This communication
helps them feel recognized and important.

Performance Linked Reward System - Performers believe that the reward system should be
based on merit and contribution. When some management tries to keep all their employees
happy through similar annual increments, it results in demoralization. In such a case, while
the status of poor performers remains a question mark, star performers don't find any reason
to stay back with the organization.

33
Learning Environment - Employees look for opportunities to learn as well as share their
knowledge. Involving them in training sessions, team assignments and mentor-mentee roles
provide them with a high level of internal self-satisfaction, so important for retaining people.

Balanced Workload - No employees mind working long hours if it is once in a while.

However, the consistent need of staying late at work pulls their motivation down and
efficiency is the casualty. This is happening more often now since it is getting more and more
challenging to find skilled and experienced staff to meet growing business demands. To
tackle this, companies should enable employees to balance work and life. Encouraging
employees’ participation in continuous improvement activities helps.

People Involvement - Involving employees in decisions that have an effect on their jobs and
the overall direction of the company makes them feel important.

Engage Employees and Improve Employee Retention (Abblig Beals, 2011)

Most companies see under the pressure of retaining employees for longer periods. An
escalated number of opportunities for truly motivated and skilled personnel and impatience,
on the part of the employees, of staying with the same company for long have led to this
phenomenon. Therefore, companies, all across the globe, are looking for ways of improving
their employee retention. Among the various ways which have been explored, one realizes
that employee engagement is one of the most sought-after formulas for employee retention.
So, what is employee engagement? Although the answer to this lies in the individual needs of
the employees, a general concept presents its meaning as being the involvement of employees
with the organization and its values. Are the employees simply performing their roles or are
they an inclusive part of the organization? The more they are towards the latter, the higher
they stay self-motivated, enjoy their jobs, and hence stick to them for longer. They must be
taught to develop self-leadership skills based on their motives and goals in their career and
life. The thing that has to be quite evidently known is that compensation is just not enough
for employee engagement. There have to be other factors of motivation that let employees
engage with the organization’s goals.

Companies must interact with their employees to find out such other things as reasons
why they enjoy working with the company and what things about their job profile which is
the most motivating. While it does look quite plain and simple, making employees introspect
and explore the real answers to these questions is a challenging task. Over and above this, the
34
employer also has to spend some time assimilating feedback from the employees. The
feedback could be about anything about the organization, from its marketing efforts to its HR
to its work environment to much more. This way the employees will feel more accountable
toward the organization, at large, and thus be more engaged. Improving the standards of
employee engagement, across the globe, is Life by Design. The company understands the real
value of engagement and involves itself in Employee Activated Engagement instead of pure
employee engagement. With its efforts and adroitness, it has generated effective and long-
lasting results for its clients.

Introduction

The indian retail industry has emerged as one of the most dynamic and fast-paced industries
due to the entry of several new players. It accounts for over 10 per cent of the country’s gross
domestic product (gdp) and around 8 per cent of the employment. India is the world’s fifth-
largest global destination in the retail space.

Market size

The boston consulting group and retailers association of india published a report titled, ‘retail
2020: retrospect, reinvent, rewrite’, highlighting that india’s retail market is expected to
nearly double to us$ 1 trillion by 2020 from us$ 600 billion in 2015, driven by income
growth, urbanisation and attitudinal shifts.

The report adds that while the overall retail market is expected to grow at 12 per cent per
annum, modern trade would expand twice as fast at 20 per cent per annum and traditional
trade at 10 per cent.

Retail spending in the top seven indian cities amounted to rs 3.58 trillion (us$ 53.7 billion),
with organised retail penetration at 19 per cent as of 2014. Online retail is expected to be at
par with the physical stores in the next five years.

India is expected to become the world’s fastest growing e-commerce market, driven by robust
investment in the sector and rapid increase in the number of internet users. Various agencies
have high expectations about growth of indian e-commerce markets. Indian e-commerce sales
are expected to reach us$ 55 billion! By fy2018 from us$ 14 billion in fy2015. Further,

35
india's e-commerce market is expected to reach us$ 220 billion in terms of gross merchandise
value (gmv) and 530 million shoppers by 2025, led by faster speeds on reliable telecom
networks, faster adoption of online services and better variety as well as convenience@.

India’s direct selling industry increased 6.5 per cent in fy2014-15 to rs 7,958 crore (us$ 1.19
billion) and is expected to reach a size of rs 23,654 crore (us$ 3.55 billion) by fy2019-20, as
per a joint report by india direct selling association (idsa) and phd.

36
Investment scenario
The indian retail industry in the single-brand segment has received foreign direct investment
(fdi) equity inflows totalling us$ 344.9 million during april 2000–september 2015, according
to the department of industrial policies and promotion (dipp).

With the rising need for consumer goods in different sectors including consumer electronics
and home appliances, many companies have invested in the indian retail space in the past few
months.

• amazon india expanded its logistics footprint three times to more than 2,100 cities and
towns in 2015, as amazon.com invested more than us$ 700 million in its india operations
since july 2014.

• adidas ag, reknowned for its adidas and reebok sports brands, has become the first foreign
sports company to get government approval to open 100 per cent foreign-owned stores in
india.

• walmart india plans to add 50 more cash-and-carry stores in india over the next four to five
years.

• >aeropostale, an american teen fashion retailer, has chosen to enter india over china, and
expects india to be among its top three markets over the next four years with revenue target
of rs 500 crore (us$ 75 million).

• opinio, a hyperlocal delivery start-up, has raised us$ 7 million in a series-a funding from
gurgaon-based e-commerce fulfilment service firm delhivery along with investment from
sands capital and accel partners.

• textile major arvind limited has announced a partnership with sephora, owned by lvmh moet
hennessy louis vuitton, a french luxury conglomerate, in order to enter into the beauty and
cosmetics segment.

• mobile wallet company mobikwik has partnered with jabong.com to provide mobile
payment services to jabong’s customers.

• datawind partnered with homeshop18 to expand its retail footprint in the country. Under the
partnership, homeshop18 and datawind would jointly launch special sales programmes across
37
broadcast, mobile and internet media to provide greater access to the latter’s tablet range.

• fashionandyou has opened three distribution hubs in surat, mumbai and bengaluru to
accelerate deliveries.

• abu dhabi-based lulu group plans to invest rs 2,500 crore (us$ 375 million) in a fruit and
vegetable processing unit, an integrated meat processing unit, and a modern shopping mall in
hyderabad, telangana.

• aditya birla retail, a part of the us$ 40 billion aditya birla group and the fourth-largest
supermarket retailer in the country, acquired total hypermarkets owned by jubilant retail.

• with an aim to strengthen its advertising segment, flipkart acquired mobile ad network
adiquity, which has a history of mobile innovations and valuable experience in the ad space.

• us-based pizza chain sbarro plans an almost threefold increase in its store count from the
current 17 to 50 over the next two years through multiple business models.

Government initiatives

The government of india has taken various initiatives to improve the retail industry in india.

• the ministry of urban development has come out with a smart national common mobility
card (ncmc) model to enable seamless travel by metros and other transport systems across the
country, as well as retail purchases.

• ikea, the world’s largest furniture retailer, bought its first piece of land in india in
hyderabad, the joint capital of telangana and andhra pradesh, for building a retail store. Ikea’s
retail outlets have a standard design and each location entails an investment of around rs 500–
600 crore (us$ 75–90 million).

• the government of india has accepted the changes proposed by rajya sabha select committee
to the bill introducing goods and services tax (gst). Implementation of gst is expected to
enable easier movement of goods across the country, thereby improving retail operations for
pan-india retailers.

• the government has approved a proposal to scrap the distinctions among different types of
overseas investments by shifting to a single composite limit, which means portfolio
investment up to 49 per cent will not require government approval nor will it have to comply

38
with sectoral conditions as long as it does not result in a transfer of ownership and/or control
of indian entities to foreigners. As a result, foreign investments are expected to be increase,
especially in the attractive retail sector.

The upcoming trend

E-commerce is expanding steadily in the country. Customers have the ever increasing choice
of products at the lowest rates. E-commerce is probably creating the biggest revolution in the
retail industry, and this trend would continue in the years to come. Retailers should leverage
the digital retail channels (e-commerce), which would enable them to spend less money on
real estate while reaching out to more customers in tier-2 and tier-3 cities.

Both organised and unorganised retail companies have to work together to ensure better
prospects for the overall retail industry, while generating new benefits for their customers.

Nevertheless, the long-term outlook for the industry is positive, supported by rising incomes,
favourable demographics, entry of foreign players, and increasing urbanisation.

Growth of indian retail industry

according to the 8th annual global retail development index (grdi) of at kearney,
india retail industry is the most promising emerging market for investment. In 2007,
the retail trade in india had a share of 8-10% in the gdp (gross domestic product) of the
country. In 2009, it rose to 12%. It is also expected to reach 22% by 2010.

according to a report by north bride capita, the india retail industry is expected to grow
to us$ 700 billion by 2010. By the same time, the organized sector will be 20% of the total
market share. It can be mentioned here that, the share of organized sector in 2007 was
7.5% of the total retail market.

india is rapidly evolving into a competitive marketplace with potential target consumers
in the niche and middle class segments. The market trends indicate tremendous growth
opportunities. Global majors too are showing a keen interest in the indian retail market. Over
the years, international brands like marks and spencer, samsonite, lacoste, mcdonald’s,
swarovski, domino’s among a host of others have come into india through the franchise route
following the relexation of fdi (foreign direct investment) restrictions. Large indian
companies- among them the tata, goenka and the piramal groups are investing heavily in this

39
industry.

Major retailers in india

Pantaloon:

Pantaloon is one of the biggest retailers in india with more than 450 stores across the
country. Headquartered in mumbai, it has more than 5 million sq. Ft retail space located
across the country. It's growing at an enviable pace and is expected to reach 30 million sq. Ft
by the year 2010. In 2001, pantaloon launched country's first hypermarket ‘big bazaar’. It has
the following retail segments:

• food & grocery: big bazaar, food bazaar

• home solutions: hometown, furniture bazaar, collection-i

• consumer electronics: e-zone

• shoes: shoe factory

• books, music & gifts: depot

• health & beauty care: star, sitara

• e-tailing: futurebazaar.com

• entertainment: bowling co.

Tata group

Tata group is another major player in indian retail industry with its subsidiary trent,
which operates westside and star india bazaar. Established in 1998, it also acquired the
largest book and music retailer in india ‘landmark’ in 2005. Trent owns over 4 lake sq. Ft
retail space across the country.

Rpg group

Rpg group is one of the earlier entrants in the indian retail market, when it came into
food & grocery retailing in 1996 with its retail food world stores. Later it also opened the
pharmacy and beauty care outlets ‘health & glow’.

40
Reliance

Reliance is one of the biggest players in indian retail industry. More than 300 reliance fresh
stores and reliance mart are quite popular in the indian retail market. It's expecting its
sales to reach rs. 90,000 crores by 2010.

Av birla group

av birla group has a strong presence in indian apparel retailing. The brands like louis
philippe, allen solly, van heusen, peter england are quite popular. It's also investing in other
segments of retail. It will invest rs. 8000-9000 crores by 2010.

another big player in the segment will be the bharti group. Overhauling this part of the
supply chain will be the key to the success of any retail venture in food and groceries
segment.

wal-mart, the world’s largest retailer, and bharti enterprises have signed a memorandum
of understanding (mou) to explore business opportunities in the indian retail industry. This
joint venture will mark the entry of wal-mart into the indian retailing industry a retail chain
like future group’s big bazaar may be clocking heady sales (growing at 100% year- on- year),
but the dozen odd shops operating in its proximity wear a deserted look, giving a somewhat
hollow ring to the much- talked- about retail boom in the country. The key players currently
operating in the indian retail industry includes future group, trent ltd, rpg enterprise, vishal
retail ltd, shoppers stop ltd, bata india ltd, provogue india ltd, vdeocon appliances ltd, itc ltd,
godrej agrovert ltd, and dcm-hariyahkissan bazaar.

retailers ranging from pantaloon to rpg to piramal’s or the tata’s are working towards
exploiting this model, perceived by consumers as more value enhancing. But in the long run,
what is most likely to succeed is a more balanced multi-format strategy. Finally, while in the
first flush of the retail boom, the elimination of traditional intermediaries may bring windfall
gains (as well as bring welcome and much-needed relief to the producers), this source will
increasingly dry out as competition intencifies and margins come under pressure a few years
41
down the line. What would set the survivors apart from those who are forced to sell out or go
belly-up will be differentiators like location, value-added services (convenience), private
labels and customer loyalty programs other than price. The last, a result of retailer-
manufacturer tie-ups, state-of-the-art supply chain infrastructure, global sourcing and scale
will be a key factor. And, if experience in other markets is anything to go by, an uncanny
ability to read shifting trends.

Retail formats in india

Hyper marts /supermarkets: large self-servicing outlets offering products from a variety of
categories.

• mom-and-pop stores: they are family owned business catering to small sections; they are
individually handled retail outlets and have a personal touch.

• departmental stores: are general retail merchandisers offering quality products and services.

• convenience stores: are located in residential areas with slightly higher prices goods due to
the convenience offered.

• shopping malls: the biggest form of retail in india, malls offers customers a mix of all types
of products and services including entertainment and food under a single roof.

• e-trailers: are retailers providing online buying and selling of products and services.

• discount stores: these are factory outlets that give discount on the mrp.

• vending: it is a relatively new entry, in the retail sector. Here beverages, snacks and other
small items can be bought via vending machine.

• category killers: small specialty stores that offer a variety of categories. They are known as
category killers as they focus on specific categories, such as electronics and sporting goods.
This is also known as multi brand outlets or mbo's.

• specialty stores: are retail chains dealing in specific categories and provide deep assortment.
42
Mumbai's crossword book store and rpg's music world is a couple of examples.

Challenges facing indian retailindustry

• the tax structure in india favors small business

• lack of adequate infrastructure facilities

• high cost of real estate

• dissimilarity in consumer groups

• restrictions in foreign direct investment

• shortage of retail study options

• shortage of trained manpower

• low retail management skill

the retail industry in india is currently growing at a great pace and is expected to go up
to us$ 833 billion by the year 2013. It is further expected to reach us$ 1.3 trillion by the year
2018 at a cagr of 10%. As the country has got a high growth rates, the consumer spending has
also gone up and is also expected to go up further in the future. In the last four year, the
consumer spending in india climbed up to 75%. As a result, the india retail industry is
expected to grow further in the future days. By the year 2013, the organized sector is also
expected to grow at a cagr of 40%.

Categories of indian retailers :-

Corporate houses

tata’s: tata trent

▪ rpg group: food world, health and glow etc.

▪ itc: wills life style

43
▪ raheja group: (shoppers’ stop), dlf (dt cinemas).

▪ nike, rbk. Zodiac

▪ multi-brand outlets

▪ vijay sales, viveks etc.

▪ manufacturers/ exporters

▪ pantaloons, bata, weekender

classifying indian retailers:

Modern format retailers

▪ supermarkets (food world)

▪ hypermarkets (big bazaar)

▪ department stores (shopper’s stop)

▪ specialty chains (ikea)

▪ company owned company operated

Traditional format retailers

▪ kiranas: traditional mom and pop stores

▪ kiosks

▪ street market

▪ exclusive /multiple brand outlets

Hypermarket

▪ big bazaar

▪ giants

▪ shoprite
44
▪ star

Department

▪ lifestyle

▪ pantaloons

▪ pyramids

▪ shoppers stop

▪ trent

Entertainment

▪ fame ad labs

▪ fun republic

▪ inox

▪ pvr

Overview

The indian retail sector has come off age and has gone through major transformation over the
last decade with a noticeable shift towards organised retailing. A t kearney, a us based global
management consulting firm has ranked india as the fourth most attractive nation for retail
investment among 30 flourishing markets.

The retail market is expected to reach a whooping rs. 47 lakh crore by 2016-17, as it expands
at a compounded annual growth rate of 15 per cent, accordingy to the ‘yes bank - assocham’
study.

The retail market, (including organised and unorganised retail), was at rs. 23 lakh crore in
2011-12. According to the study, organised retail, that comprised just seven per cent of the
overall retail market in 2011-12, is expected to grow at a cagr of 24 per cent and attain 10.2
per cent share of the total retail sector by 2016-17.

in terms of sheer space, the organised retail supply in 2013 was about 4.7 million square feet
(sqft). This showed a 78 per cent increase over the total mall supply of just 2.5 million sqft in
45
2012.

“favourable demographics, increasing urbanisation, nuclearisation of families, rising

affluence amid consumers, growing preference for branded products and higher aspirations
are other factors which will drive retail consumption in india,” said ds rawat, assocham
secretary general.

Retail classification

retail industry can be broadly classified into two categories namely- organised and
unorganised retail.

• organized retail - organised traders/retailers, who are licensed for trading activities and
registered to pay taxes to the government.

• unorganized retail – it consists of unauthorized small shops - conventional kirana shops,

general stores, corner shops among various other small retail outlets - but remain as the
radiating force of indian retail industry.

market dynamics

In the past few years, indian retail sector has seen tremendous growth in the organised
segment. Major domestic players have stepped into the retail arena with long term, ambitious
plans to expand their business across verticals, cities and formats.

companies like tata, reliance, adani enterprise and bharti have been investing considerably in
the booming indian retail market. Along with these giant retailers, a number of transnational
brands have also entered into the market to set up retail chains in close association with
bigger indian companies.

high consumer spending over the years by the young population (more than 31% of the
country is below 14 years) and sharp rise in disposable income are driving the indian
organised retail sector’s growth. Even tier i & tier ii cities and towns are witnessing a major
shift in consumer preferences and lifestyles, the result of which, they have emerged as
attractive markets for retailers to expand their presence.

The indian retail sector is highly fragmented and the unorganised sector has around 13

46
million retail outlets that account for around 95-96% of the total indian retail industry.
However, going forward, the organised sector’s growth potential is expected to increase due
to globalisation, high economic growth, and improved lifestyle.

although the growth potential in the sector is immense, there are obstacles too, that could
slow the pace of growth for new entrants. Rigid regulations, high personnel costs, real estate
costs, lack of basic infrastructure, and highly competitive domestic retailer groups are some
such challenges.

key drivers of the indian retail industry

• emergence of nuclear families

• an increase in the double-income households trend

• large working population

• reasonable real estate prices

• increase in disposable income and customer aspiration

• demand as well as increase in expenditure for luxury items

• growing preference for branded products and higher aspirations

• growing liberalization of the fdi policy in the past decade

• increasing urbanisation,

• rising affluence amid consumers

Bottlenecks

• a long way to meet international standards

• lack of efficient supply-chain management

• lack of required retail space

• no fixed consumption pattern

• shortage of trained manpower

47
• lack of proper infrastructure and distribution channel

Emerging sectors/trends in indian retailing

Within retail, the emerging sectors would be food and grocery, apparel, electronics, e-
commerce, fashion and lifestyle.

Incorporation of technology in the organised retail segment has been something to reckon
with in the past few years. Use of computers for merchandise planning and management,
control of inventory costs and supplies and replenishment of goods done electronically,
internal store billing, etc has changed the face of product retailing.

online retail business is the next gen format which has high potential for growth in the near
future. After conquering physical stores, retailers are now foraying into the domain of e-
retailing. The retail industry is all set to test waters over the online medium, by selling
products through websites. Food and grocery stores comprises the largest chunk of the indian
retail market.

an emerging trend in this segment is the virtual formats where customer orders are taken
online through web portals which are delivered at the door step the very same day or the
following day. This trend has been catching up with most of the large sized retail chains that
have their websites.

the road ahead…

According to panel members at the seventh food and grocery forum india, the opportunities
in food and grocery retail in india are immense, given that it constitutes about 69 per cent of
india’s total retail market. The indian retail market, currently estimated at $490 billion, is
project to grow at a compounded annual growth rate of 6 per cent to reach $865 billion by
2023. Modern retail with a penetration of only 5% is expected to grow about six times from
the current 27 billion usd to 220 billion usd, across all categories and segments.

organised retail is emerging as the new phenomenon in india and despite the slump, the
market is growing exponentially. As economic growth brings more of india’s people into the
consuming classes and organized retail lures more and more existing shoppers, by 2015,
more than 300 million shoppers are likely to patronize organized retail chains.

consumer markets in emerging market economies like india are growing rapidly owing to
48
robust economic growth. India's modern consumption level is set to double within five years
to us$ 1.5 trillion from the present level of us$ 750 billion.

the growing middle class is an important factor contributing to the growth of retail in india.
By 2030, it is estimated that 91 million households will be ‘middle class’, up from 21 million
today. Also by 2030, 570 million people are expected to live in cities, nearly twice the
population of the united states today.

thus, with tremendous potential and huge population, india is set for high growth in
consumer expenditure. With india's large ‘young’ population and high domestic
consumption, the macro trends for the sector look favorable

49
 COMPANY PROFILE

ABOUT THE FUTURE GROUP – COMPANY PROFILE

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India's
leading business houses with multiple businesses spanning the consumption space. While
retail forms the core business activity of Future Group, group subsidiaries are present in
consumer finance, capital, insurance, leisure and entertainment, brand development, retail
real estate development, retail media, and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square
feet of retail space in over 71 cities and towns and 65 rural locations across India. The group
owns several leading formats including Pantaloons, Big Bazaar, Food Bazaar, Home Town,
eZone, and Central. Pantaloon Retail was awarded the International Retailer of the Year -
2008, by the US-based National Retail Federation, the largest retail trade association, and the
Emerging Market Retailer of the Year 2008 at the World Retail Congress in Barcelona.

Future Group believes in developing strong insights on Indian consumers and building
businesses based on Indian ideas, as espoused in the group's core value of 'Indianness'.
The group's corporate credo is, 'Rewrite rules, Retain values.

ABOUT FUTUREBAZAAR.COM

FutureBazaar.com is the e-commerce arm of the Future Group. FutureBazaar provides an

integrated shopping site where consumers can buy products from our flagship stores
including eZone, Pantaloons, and Big Bazaar online, and get home delivery of products.

FutureBazaar delivers across more than 1500 cities and towns in India covering 16,000 pin
codes. FutureBazaar carries genuine products and offers a manufacturer's warranty (as
opposed to a Seller's warranty) which most other sites offer. FutureBazaar offers products
where the complete supply chain is managed by Future Group entities, unlike other sites
that are marketplaces.

50
By the virtue of being a part of Future Group, FutureBazaar can offer a wide range of
genuine products at very competitive prices, confidence in buying from a trusted source,
and the convenience of returning to our physical stores.

ABOUT BIG BAZAAR

Big Bazaar is not just another hypermarket. It caters to every need of your family. WhereBig
Bazaar scores over other stores are its value-for-money proposition for the Indian customers.

At Big Bazaar, you will get the best products at the best prices - that's what we guarantee.
With the ever-increasing array of private labels, it has opened the doors into the world of
fashion and general merchandise including home furnishings, utensils, crockery, cutlery,
sports goods, and much more at prices that will surprise you. And this is just the beginning.
Big Bazaar plans to add much more to complete your shopping experience.

ABOUT PANTALOONS

Pantaloons are among India's largest chains of fashion stores. Pantaloons Fresh Fashion,with
its focus on 'fresh look, feel and attitude' offers, trendy and hip collections that are in sync
with the hopes and aspirations of discerning young and 'young-at-heart' consumers.

Pantaloons Fresh Fashion stands out as a fashion trendsetter, along the lines of how fashion
is followed internationally. This 'fresh fashion' destination allows customers to shop for the
latest in fashion apparel and accessories throughout the year in an attractive and visually
stimulating ambiance.

Pantaloons Fresh Fashion stores have a presence with stores not just in metros but also in
smaller towns. All stores have a wide variety of categories like casual wear, ethnic wear,
formalwear, party wear, and sportswear for Men, Women, and Kids.

ABOUT EZONE

eZone, with the catchphrase 'experience electronics' is an experience-led lifestyle formatthat

brings together the best in national and international consumer electronic and durables
brands in a family-centric environment.

Typically,over 12,000 square feet in size, the zone store truly enables you to experience
electronics, through three dedicated zones - Liberation Zone, Experience Zone, and Home

51
Zone. The Liberation Zone offers personal products like computers, laptops, handy cams,
MP3 players, and mobile phones. While entertainment products such as Plasma / LCD, Flat
TVs, Home Theatre systems, DVD players, and Stereo systems are displayed in the
Experience Zone. And in the Home Zone segment, one gets to pick electronic goods of his or
her choice including Refrigerators, Air Conditioners, washing machines, and Microwave
ovens among other kitchen-related appliances.

eZone is not only about showcasing electronics products and gadgets, but providing you
with a complete shopping experience through touch & feel, allowing you to pick and
choose from an array of best brands under one roof. eZones are primarily stand-alone
concepts but are also present within the Central malls.

The Big Bazaar is a useful place to find cheap household items, clothes, and food all under
one roof. However, the chaos and crowds often make shopping there a challenge. Pros

 Low prices.
 Great sales and promotions.
 Wide range of products under one roof.
 Many stores.
Cons

 Overcrowded.
 Checkout can be extremely slow.
 Complaints of poor customer service and overcharging.
 Quality is variable.
Description

 Outlets in around 60 locations across India.

 Sells furniture, electronics, clothes, cookware, cosmetics, household items, food,
gifts, jewelry, and books.
 Also has special Food Bazaar outlets.
 Most stores open from 10 a.m. until 9.30-10 p.m. daily.

52
GUIDE REVIEW - REVIEW OF BIG BAZAAR INDIA

There was a time not so long ago that large department stores were a completely foreign
concept in India -- but not anymore. The Big Bazaar is one such department store to have set
up shop across the country. Since its first outlet opened in Kolkata in late 2001, the Big
Bazaar has spread to towns and cities at an alarming rate.

These multi-level shopping meccas stock everything from food to fridges, and cookware to
clothes. However, the Big Bazaar isn't your ordinary department store. It's been specially
designed to appeal to the Indian consumer. You may be thinking, what does that mean? In
short, organized chaos.

With a slogan of "Is se sastaauracchakahinnahi!" ("Nowhere cheaper or better than this!"),

the Big Bazaar targets itself directly at the average Indian's love of following the crowd and
scrambling for a good discount.

You won't find neatly ordered aisles at the Big Bazaar. Instead, stores are laid out to
replicate a market environment, with items all thrown in together. Promotions such
as"SabseSaste Teen Din" (Cheapest Three Days) and "Purana Do, Naya Lo" (Give
Old,Take New) result in shoppers flooding the stores, to the point that some stores have
become so overcrowded they've had to close.

If you visit the Big Bazaar in the daytime during the week, it is possible to have a
deceptively pleasant and hassle-free shopping experience.

However, don't make the mistake of going there during a sale, on holidays, on evenings, or
Sundays. When I did this, I had to wait for almost an hour just to be served at the checkout.
Forget about getting the all items I wanted, I was happy to get out of there in one piece!

I've also found that the full price is all too often charged on sale items, so do check your
receipt to make sure that discounts have been properly recorded.

53
 DATA ANALYSIS AND INTERPRETATION

1. RATE YOUR LEVEL OF SATISFACTION WITH THE WORKING CULTURE

OF THE ORGANIZATION.

S.NO PARTICULARS NO. OF RESPONDENT PERCENTAGE (%)

1 Highly Satisfied 20 20
2 Satisfied 60 60
3 Average 8 8
4 Dissatisfied 12 12
5 Highly Dissatisfied 0 0
TOTAL 100 100

NO.OF RESPONDENT
20

1 Highly Satisfied
2 Satisfied
3 Average
4 Dissatisfied
100 60
5 Highly Dissatisfied
5 TOTAL

8
12

INTERPRETATION:

 20% of employees are highly satisfied with the working culture of the organization.

 60% of employees are satisfied with the working culture of the organization.
 08% of employees are average with the working culture of the organization.
 12% of employees are dissatisfied with the working culture of the organization.
54
2. ARE YOU SATISFIED WITH THE SUPPORT FROM THE HR DEPARTMENT?
S.NO PARTICULARS NO.OF RESPONDENT PERCENTAGE (%)
1 Highly Satisfied 30 24
2 Satisfied 30 60
3 Dissatisfied 20 8
4 Highly Dissatisfied 20 8
TOTAL 100 100

NO.OF RESPONDENT
30

1 Highly Satisfied
2 Satisfied
3 Dissatisfied
30
4 Highly Dissatisfied
100
4 TOTAL

20

20

INTERPRETATION:

 24% of employees are highly satisfied with the support from HR Department.
 60% of employees are satisfied with the support from HR Department.
 08% of employees are dissatisfied with the support from HR Department.
 08% of employees are highly dissatisfied with the support from HR Department.

55
3. WHICH TYPE OF INCENTIVES MOTIVATES YOU MORE?

S.NO OPTIONS NO.OF RESPONDENT PERCENTAGE (%)

1 Incentive Awards 30 50
2 Promotion 30 46
3 Appreciation Letters 40 4
TOTAL 100 100

NO.OF RESPONDENT

30
1 Incentive Awards
2 Promotion
30 3 Appreciation Letters
100 3 TOTAL

40

INTERPRETATION:

 50% of Employees agree with incentive awards motivate them more.

 46% of Employees agree with promotion motivates them more.
 4% of Employees agree with appreciation letters motivate them more.

56
4. HOW FAR YOU ARE SATISFIED WITH THE INCENTIVES PROVIDED BY
THE ORGANIZATION?

S.NO PARTICULARS NO.OF RESPONDENT PERCENTAGE (%)

1 Highly Satisfied 30 10
2 Satisfied 30 50
3 Dissatisfied 20 30
4 Highly Dissatisfied 20 10
TOTAL 100 100

NO.OF RESPONDENT
30

1 Highly Satisfied
2 Satisfied
3 Dissatisfied
30
4 Highly Dissatisfied
100
4 TOTAL

20

20

INTERPRETATION:

 10% of employees are highly satisfied with the incentives provided by the
Organization.
 50% of employees are satisfied with the incentives provided by the Organization.
 30% Of Employees are dissatisfied with the incentives provided by the Organization.
 10% of employees are highly dissatisfied with the incentives provided by the
Organization

57
 5. WHICH OF THE FOLLOWING FACTORS MOTIVATES YOU MOST?

S.NO OPTIONS NO.OF RESPONDENT PERCENTAGE (%)

1 Salary Increase 30 60
2 Promotion 30 20
3 Leave 5 10
4 Motivational Talks 10 6
5 Recognition 25 4
TOTAL 100 100

NO.OF RESPONDENT
30
1 Salary Increase
2 Promotion
3 Leave
30 4 Motivational Talks
100 5 Recognition
5 TOTAL

5
10

25

INTERPRETATION:

 60% of Employees agree with a salary increase motivates them the most.
 20% of Employees agree with promotion motivates them the most.
 5% of Employees agree with leave motivates them the most.
 06% of Employees agree with motivational talks motivate them most.

58
6. DO YOU THINK THAT INCENTIVES AND OTHER BENEFITS WILL
INFLUENCE YOUR PERFORMANCE?

S.NO OPTIONS NO.OF RESPONDENT PERCENTAGE (%)

A Agree 20 40
B Disagree 20 40
C Netural 60 20
TOTAL 100 100

NO.OF RESPONDENT

20
20 A Agree
B Disagree
100
C Netural
60 C TOTAL

INTERPRETATION:

 40% Of Employees think that incentive & other benefits will influence their
performance.
 40% Of Employees think that incentive & other benefits will not influence their
performance.
 20% of employees said no option.

59
7. DOES THE TOP MANAGEMENT INVOLVE YOU IN DECISION-MAKING
THATIS CONNECTED TO YOUR DEPARTMENT?

S.NO OPTIONS NO.OF RESPONDENT PERCENTAGE (%)

1 Agree 60 60
2 Disagree 20 30
3 Netural 20 10
  TOTAL 100 100

NO.OF RESPONDENT

1 Agree
60 2 Disagree

100 3 Netural
3 TOTAL
20
20

INTERPRETATION:

 60% of Employees said top management involves in decision-making.

 30% 0f Employees said top management is not involved in decision-making.
 10% said occasionally top management involve in decision-making.

60
8. WHY HAVE YOU CHOSEN TO REMAIN WITH THE BIG BAZAAR?

S.NO OPTIONS RESPONSES PERCENTAGE

A Career advancement opportunities 35 30%

B Challenging benefits 20 12%

C Salary 30 28%
D Employee benefits 6 12%
E Less travel 5 10%

F Good supervision/management 14 8%

  TOTAL 100 100

RESPONSES
35 A Career advancement oppor-
tunities
B Challenging benefits
C Salary
20 D Employee benefits
100 E Less travel
F Good supervision/man-
agement
30 F TOTAL

14 5 6

INTERPRETATION:

From the above table, it is interpreted that 30% of employees responded that they have been
provided with career advancement opportunities, 12% of respondents said that they have
been provided with career advancement, 40% said that they are fairly and equal justice was
given in remuneration provided the salary and employee benefits and 18% of the respondents
were satisfied with the fewer travel allowances and supervision.

61
9. WHAT IS YOUR OPINION ABOUT TRAINING/EDUCATIONAL
OPPORTUNITIES IN YOUR ORGANIZATION?

S.NO OPTIONS RESPONSES PERCENTAGE

A Excellent 35 34%
B Good 35 40%
C Average 30 26%
D Poor 0 0%
E Very poor 0 0%
TOTAL 100 100

RESPONSES

35
A Excellent
B Good
C Average
D Poor
100 E Very poor
35
E TOTAL

30

INTERPRETATION:

From the above table, 34% of respondents said that excellent, 40% of respondents said good,
and 26% of respondents said average in training opportunities. All respondents were satisfied
with the training opportunities given by the organization.

62
10. PLEASE RATE YOUR EMPLOYMENT CONDITION CONCERNING
OPPORTUNITIES FOR ADVANCEMENT.

S.NO OPTIONS RESPONSES PERCENTAGE

A Excellent 30 28%
B Good 38 40%
C Average 32 32%
D Poor 0 0%
E Very poor 0 0%
TOTAL 100 100

RESPONSES
30
A Excellent
B Good
C Average
D Poor
100 38 E Very poor
E TOTAL

32

INTERPRETATION:

From the above table, 28% of respondents said that excellent, 32% of respondents said good,
and 42% of respondents said average on Opportunities for advancement.

63
11. WHAT DO YOU LOVE BEST ABOUT YOUR WORK/WORKING IN?

S.NO OPTIONS RESPONSES PERCENTAGE

A Learning & Development 40 40%
B Work Tasks 16 16%
C Leadership 16 16%
D Career Opportunities 20 20%
E Recognition 4 4%
F Work-Life Balance 4 4%
TOTAL 100 100

RESPONSES

40
A Learning & Development
B Work Tasks
C Leadership
D Career Opportunities
100 16
E Recognition
F Work Life Balance
16 F TOTAL

20
4 4

INTERPRETATION:

From the above table 40% of employees said they get more Learning & Development
Opportunities, the next thing that 16% of employees love about their task allotted to them,
16% of employees love the leadership provided to them, 20% of employees love about the
Career Opportunities provided to them, remaining 4% of employees love about the
Recognition provided to them and 4% of employees for the Work-Life Balance.

64
12. DOES BIG BAZAARUTILIZE YOUR TALENT?

S.NO OPTIONS RESPONSES PERCENTAGE

A Agree 40 40%
B Disagree 40 40%
C Netural 20 20%
TOTAL 100 100

RESPONSES

A Agree
40
B Disagree

100 C Netural
40 C TOTAL

20

INTERPRETATION:

From the above table, 40% of employees feel that BIG BAZAAR completely utilize their
skills, 40% of employees feel that their skills are not utilized to their maximum potential, and
20% of employees think that they are utilizing their skills to some extent.

65
13. IN WHICH AGE GROUP IS RETENTION OBSERVED MORE?

S.NO OPTIONS RESPONSES PERCENTAGE

A 25-30 40 40%
B 31-35 30 30%
C 36-40 16 16%
D 41-45 10 10%
E 46-Above 4 4%
TOTAL 100 100

RESPONSES

40
A 25-30
B 31-35
C 36-40
D 41-45
100
30 E 46-Above
E TOTAL

16
4 10

INTERPRETATION:

From the above table, it is observed that 40% of retention is observed more in the age group
between 25-30, 30% of retention is observed in the age group between 31-35, 16% of
retention is observed in the age group between 36-40, 10% of retention is observed in the age
group between 41-45,4% retention is observed in the age group between 46-above.

66
14. WHAT ARE THE FACTORS TO ENCOURAGE RETENTION?

S.NO OPTIONS RESPONSES PERCENTAGE

A Salary 40 40%
B Increment 20 20%
C Resources 10 10%
D Training 12 12%
E Recognition 8 8%
F Others 10 10%
TOTAL 100 100

RESPONSES

40
A Salary
B Increment
C Resources
D Training
100 20 E Recognition
F Others
F TOTAL
10
12
8
10

INTERPRETATION:

40% of Employees said that salary would be the most preferred retention factor,20% of
employees feel increment would be one of the important retention factors,10% of employees
feel Resources would be one of the factors for retention, 12% of employees feel that training
would be the retention factor, 8% of employees feel recognition would be one of the factors
for retention and 10% of employee gave other reasons for their retention.

67
15. DOES MANAGEMENT PROVIDE INFORMATION NEEDED TO PERFORM
THE JOB?

S.NO OPTIONS RESPONSES PERCENTAGE

A Always 60 60%
B Sometimes 36 36%
C Never 4 4%
TOTAL 100 100

RESPONSES

60
A Always
B Sometimes
C Never
100
C TOTAL

36
4

INTERPRETATION:

From the above table, 60% responded always, 36% responded sometimes, and 4% responded
never on the information provided by management.

68
16.Performance appraisal activities are helpful to get HR Strategy

SL NO PARTICULAR NUMBER OF PERCENTAGE

RESPONDENTS

1 Strongly Agree 9 18
2 Agree 23 46
3 Neutral 6 12
4 Disagree 3 3
5 Strongly Disagree 9 18
Total 50 100

NUMBER OF RESPONDENTS

StronglyAgree
Agree
Neutral
Disagree
StronglyDisagree
5 Total

INTERPRETATION

The table shows 46% of the respondents agree that the performance appraisal activities
are helpful to get HR Strategy.

69
17. Support from the co-worker is helpful to get HR Strategy

SL NO PARTICULAR NUMBER OF PERCENTAGE

RESPONDENTS

1 Strongly Agree 12 20

2 Agree 29 46

3 Neutral 0 0

4 Disagree 6 12

5 Strongly Disagree 3 6

Total 50 100

Number of Respondents

Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
5 Total

INTERPRETATION
The table shows 58% of the respondents agree that the support from the co-worker is helpful
to get HR Strategy

70
18.Career development opportunities are helpful to get HR Strategy

SL NO PARTICULAR NUMBER OF PERCENTAGE

RESPONDENTS

1 Strongly Agree 10 20

2 Agree 26 52

3 Neutral 2 4

4 Disagree 4 8

5 Strongly Disagree 8 16

Total 50 100

INTERPRETATION

The table shows 52% of the respondents agree that the career development opportunities are
helpful to get HR Strategy.

NO. OF Respondents

Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
5 Total

71
19.Factors which HR Strategy you the most.

SL NO PARTICULAR NUMBER OF PERCENTAGE

RESPONDENTS

1 Salary increase 21 42

2 Promotion 15 30

3 Leave 3 6

4 Motivational talk 5 10

5 Recognition 6 12

Total 50 100

Number of Respondents

1 Salaryincrease
2 Promotion
3 Leave
4 Motivationaltalk
5 Recognition
5 Total

INTERPRETATION

The table shows that the 42% of the respondent is responding that increase in salary will
motivate them the most.

72
20.Incentives and other benefits will influence your performance

SL NO PARTICULAR NUMBER OF PERCENTAGE

RESPONDENTS

1 Influence 32 64

2 Does not influence 12 24

3 No opinion 6 12

Total 50 100

NUMBER OF RESPONDENTS

32%

50%

12%
6%

1 Influence 2 Does not influence 3 No opinion 3 Total

INTERPRETATION

The table shows 64% of the respondents responded that incentives and other benefits
will influence their performance

73
 FINDINGS

 10 respondents of age group 26 to 35 years are neutral to a retirement plan, 3

respondents of age group 18 to 25 years and 2 respondents of age group 36 to 45
years say that the retirement plan is somewhat important.
 16 respondents inthe age group 26 to 35 years have accepted that a retention bonus
has an impact on the motivation level and performance of an associate.
 The respondents of all age groups have accepted that the reward will increase
employee retention all the time.
 The respondents of all age groups have accepted that respect will increase employee
retention all the time.
 9 respondents of age group 18 to 25 years and 5 respondents of age group 26 to 35
years are neutral to health benefit and 3 respondents of age group 36 to 45 years say
that health benefit for employment is very important.
 7 respondents of age group 26 to 35 years are neutral to an insurance scheme, 3
respondents of age group 18 to 25 years, and 2 respondents of age group 36 to 45
years suggest that an insurance scheme is very important.
 19 male respondents and 6 female respondents have accepted that the company is
providing rewards and recognition for the necessary achievement.
 10 male respondents and 5 female respondents are satisfied with the welfare measures
provided by the company.
 14 male respondents and 5 female respondents have accepted that the company
provides opportunities for growth and development.
 18 male respondents and 7 female respondents would like to plan their further carrier
in this organization.

74
 CONCLUSION

The study “Retention of Employees” at workplace in Big bazaar. was conducted to

analyze the impact of employee retention and its effect on workplace outcomes. Employee
retention is neither common nor permanent for an employer in the organization hence this
project considers the effect of employee retention through a mediating factor work
environment to study the various impact on job stress, job satisfaction, and turnover intention.
Therefore the organization can impart certain practices that boost employees to perform well
and sustain them in the organization by providing various welfare measures and
implementing retention strategies.

75
 SUGGESTIONS

 Maintaining a corporate image is an effective way to attract the talented. The

organization has to ensure that it is sought after for employment by cashing on its
goodwill and reputation.

 The organization must identify its strengths and opportunities and portray them
effectively. This is almost equivalent to selling the organization to the recruits, it
helps in building positive impressions initially.

 Organizations must hold strict exit interviews and review reasons for turnover. The
information must be ideally used to plan strategies for retention. Those issues that
might drive talent to leave should be dealt with immediately.

 All information about the recruits should be kept in mind even after the recruitment
process ends. This will help in identifying their potential and setting performance
targets thereby, maximizing the recruit’s performance.

 Organizations should look for the best fit into their territory with reviews from their
colleagues, customers, and managers.

 Organizations should design training programs that match employee competencies

with current trends.

 The employer should help employees to prove their worth and bring out their talent
potential, and avoid cost points.

 Giving employees responsible tasks, while giving them the freedom to work in their
style motivates them to stay on.

 Healthy relationships among the line members and staff members inspire employees
to stay on in any organization.

76
 Compensation plays an important role in attracting, motivating, and retaining
employees.

 Creative retention strategies, therefore, have to be emphasized. This is the

responsibility of management and every employee of the organization has to view it
as a calculated organizational challenge.

77
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85
 ANNEXURE

EMPLOYEE RELATED QUESTIONS

Good morning/Evening, Sir\Madam. I’m Chilukuri Navitha doing my MBA

at Villa Marie PG College. As a part of the partial fulfillment for the MBA course, Iam
understanding a project titled “A STUDY ON EMPLOYEE RETENTION”, IN BIG
BAZAAR.I would be happy if you spend some time answering the following questions. This
study is purely for academic purposes only. The answers would be kept confidential.

QUESTIONNAIRE
Designation:
Age group:
a)18-25 b)26-35 c)36-45 d)46-55 e)Over 55
Gender:
a)Male b)Female
1. How much are you satisfied with your current job?
a)Very high b)Fairley enough c)Moderate d)Very less
2. Do you have Rewards and recognition for your achievements in your current company?
a)Agree b) Disagree c) Netural d) Total
3. Is it important that appreciation for your work by your coworkers and supervisors
is necessary?
a)Agree b) Disagree c) Netural d) Total
4. How do you rate the infrastructure and equipment provided by the organization?
a)Excellent b)Very good c)Good d)Poor e)Worst
5.Does the retention bonus have any impact on the motivation levels of an associate?
a)Agree b) Disagree c) Netural d) Total
6. Do you feel that the company provides opportunities for your growth and development?
a)Agree b) Disagree c) Netural d) Total
7. Do you think that the implementation of three Rs (recognition, reward, respect) will
increase employee retention?
a)Agree b) Disagree c) Netural d) Total
8. What is your opinion on the working environment?
 a)Highly Dissatisfied b)Dissatisfied c) Neutral d)Satisfied e)Highly Satisfied

86
9.Express your level of satisfaction regarding the welfare measures provided by the Company?
a) Highly Dissatisfied b) Dissatisfied c) Neutral d) Satisfied e) Highly Satisfied

10. Have you worked in any other organization previously to this company?
a)Agree b) Disagree c) Netural d) Total

11.BenefitsPlease rate the following benefits of employment on a scale of 1 to 5 where

1 = not important and 5 = very important
a)Work Tasks Leadership b)Career Opportunities c)Recognition d) Work-Life Balance
12. Would you like to plan your further carrier in this organization?
a)Agree b) Disagree c) Netural d) Total
13. In which age group is retention observed more?

a) 25-30 b) 31-35 c) 36-40 d)41-45 e)46 above

14. What are the factors to encourage retention?

a)Salary b) Increment c) Resources d) Training

15. Does management provide information needed to perform the job?

a) Always b) Never c) Sometime

16. There are effective promotional opportunities in present job,

a)Agree b) Disagree c) Netural d) Total

17. There are good safety measures existing in the organization.

a)Agree b) Disagree c) Netural d) Total

18. Agree performance appraisal activities are helpful to get HR Strategy.

a)Agree b) Disagree c) Netural d) Total

19. Support from the co-worker is helpful to get HR Strategy

87
a)Agree b) Disagree c) Netural d) Total

20.Career development opportunities are helpful to get HR Strategy

a)Agree b) Disagree c) Netural d) Total

88