1

0.

A Project Report On
“A Study on Retention of Employee at Pantaloons Fashion & Retail Limited”

In Partial Fulfilment of Masters of Business Administration in Human

Resource Development
MBA (PM&HRD)
From

Balaji Institute of Management and Human Resource Development (BIMHRD)

Pune.
Prepared by-
Mahima Sharma
MBA (PM&HRD)
Batch 2021-2023
2

ACKNOWLEDGEMENT

I have immense pleasure to have the support of people in making this internship
a success. Through-out my internship I was guided by the concerned people
without which I could not have completed my project successfully. I am heartly
thankful to all these people.
I express my deep gratitude to Mr. Rahul Kulkarni – Area HR Manager
(AHR), Mr. Bhushan Sonpasare Cluster HR , for giving me the opportunity
to undertake the Internship at Pantaloons Fashion & Retail Limited, Pune. I
also want to thank my external mentor – Professor Dr. Rajeshwari Patil . The
project would not have been successful.
I am also grateful to Dr.G.Gopalakrishnan (Director,BIMHRD) for giving
me the opportunity and necessary facilities to make this effort successful and
deepest gratitude to Faculty of BIMHRD, Pune for their guidance and support

Director Sir
External Mentor
3
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Table of Contents

Topic Page No.

Title of Project 1
Acknowledgement 2
Certificate 3
Table of contents 4-5
Executive summary 6
Employee Retention 7-12
- The Importance of Retaining Employees
- Retaining strategies
- 3 R’s of Employee Retention

Introduction 13-14
- About Company
Market scenario 15
Industry scenario 16-19
Retail format in India 20-21
Competitors 22-24
Products 25-28
Brands 29-34
Organizational Profile 35
Organizational Structure 36
HR department Structure 37
Models of store 38-39
Literature Review 40-41
Objectives 42
Research Problem 43
- Hypothesis
Research Methodology 44
- Research approach method
- Area of study
- Data source
- Tool of collection
- Sample size
- Sampling Method

Data Analysis & Interpretation 45-49

Findings 50
Recommendation 51
5

Limitations 52
Conclusion 53
Retention strategies used at Pantaloons 54

Future scope of the study 55

References
Annexure 56
6

EXECUTIVE SUMMARY

Employers make a concerted effort to establish and foster an environment that

encourages current employees to stay with the company by implementing
policies and practises that suit their different demands. As a result, a solid
retention plan becomes a potent recruitment strategy.
Key employee retention is crucial to any organization's long-term health and
performance. It is common knowledge that retaining the best people results in
greater product sales, satisfied colleagues and reporting staff, successful
succession planning, and deeply rooted organisational knowledge and learning.
Employee retention is important since it involves organisational difficulties
such as training time and effort, lost skills, anxious employees, and a costly
applicant hunt. As a result, failing to keep a key employee is a costly prospect
for the company. According to various estimates, losing a middle manager in
most firms can cost up to five times his income. Intelligent organisations
understand the value of retaining top staff. Retaining talent has never been more
vital in India, but things have changed in recent years. At least in major Indian
cities, there is no shortage of chances for the finest in the business, or even the
second or third best. Retaining key employees and dealing with attrition issues
has never been more crucial for businesses.
Organizations can either keep their employees or lose them to competitors in an
extremely competitive climate where HR managers are recruiting from each
other. Days are gone when employees would stay with a company for years
because they didn't have a better option.
Why is retention so critical? Is it simply to cut turnover costs?
The answer is certainly no. It is not only the cost incurred by a firm that
underlines the need of employee retention, but also the need to keep talented
individuals from being recruited.
The focus of this research is to demonstrate how important staff retention is in
today's world, and if organisations are not aware of the issue and do not take
prompt action, what effects follow and how they will influence the organisation
and the industry.
7

EMPLOYEE RETENTION

Employers make a concerted effort to develop an environment that motivates

current employees to stay with the company by putting policies and procedures
in place that cater to their various demands. This is known as effective
employee retention. Therefore, an effective retention plan also serves as a
potent recruitment tool. Any organization's long-term health and performance
depend on its ability to retain essential personnel. It is common knowledge that
keeping the best workers improves customer pleasure, greater product sales,
content co-workers and subordinates, efficient succession planning, and deeply
ingrained organisational knowledge and learning. Employee retention is
important because it affects organisational problems like training time and
expense, knowledge loss, insecure employees, and an expensive candidate hunt.
Therefore, losing a key person to departure costs a business money. According
to various estimates, losing a middle manager can cost a typical business up to
five times his income.
Employers who are wise understand how crucial it is to keep their finest
employees. In the Indian context, talent retention has never been more crucial,
yet recently, things have changed. There is no shortage of chances for the finest
in the business, or even for the second or third best, at least in major Indian
metropolises. Key staff retention and addressing attrition issues have never been
more crucial to businesses.
Organizations must either hold on to their personnel tightly or risk losing them
to the competition in a highly competitive atmosphere where HR managers are
stealing from one another. The days when workers would remain with a
company for years in the absence of other options are long gone. Opportunities
abound right now. Furthermore, some reports that up to 40% of employees
leave IT firms each year. Although the BPO business grows by 40 to 50 percent
annually, it is currently also losing 35 to 40 percent of its 350,000 or more
employees.
8

Retention 5 major things :

COMPENSATIO
N

GROWTH SUPPORT

RETENTION

ENVIORNMENT RELATIONSHIP

Compensation - The key component of the employee retention process is

compensation. Employees consistently have high expectations for their pay
packages. The compensation offered varies by industry. A compelling
compensation plan is therefore essential to keeping personnel. In addition to pay
and income, compensation may also include vacation time, stock options, perks,
and qualifications.
Environment- It is not about retention management. It involves controlling
others. Employee retention will be taken care of itself if a firm manages its
personnel effectively. To make greater use of the existing human resources,
organisations should concentrate on managing the workplace.
9

Growth- There is a chance that an employee may leave his current company as
soon as he has the chance if he cannot predict how his career will progress
there. The following are crucial elements for employee growth that each
employee should consider:
Work Profile , Personal growth and dreams , Training activities,

Relationship- The following ideas should be considered by management in

order to foster positive working relationships
Relationship with senior manager’s, Relationship with co-workers

Support- Support Employee retention can sometimes be attributed to a lack of

management support. The boss should provide everyone of his employees the
support they need to succeed. Management should make an effort to put its
people first and help them through challenging times at work as well as through
personal crises. Employers can receive support from management by receiving
praise and appreciation from them. Employees can feel appreciated by their
employers by receiving insightful comments from them. The employee feels
more empowered, accountable, and confident thanks to the supervisor's
feedback.
Thus, companies can assist their staff in a variety of ways, including the
following:
 By seeking input
 By recognising and rewarding them
 By mentoring them
 By offering emotional support.
10

The Importance of Retaining Employees

The difficulty of retaining staff, as well as its changing face, has baffled
managers and business owners alike. How do you approach this problem? How
do you create a workplace that employees want to stay in and outsiders want to
join? These and other questions are asked by successful managers and business
owners because, simply put, staff retention is important.
Customers and employees are frequently left in the lurch as a result of high
turnover; departing personnel bring a wealth of expertise with them. This lack
of continuity makes it difficult for firms to fulfil their objectives and provide
excellent customer service. Employee replacement is costly. The cost of
replacing an employee is estimated to be up to twice their annual compensation
(more for positions based on their status within the inter-organizational
hierarchy). Middle management, for example), and this does not even take into
account the cost of lost expertise.
Recruiting personnel takes a significant amount of time and effort, most of
which is wasted. There is more than one business competing for skilled
personnel, and job seekers base their selections on more than simply
compensation and benefits.
Bringing personnel up to speed takes even more time, and when an organisation
is short-staffed, they frequently have to put in extra time to complete the work.
11

RETENTION STRATEGIES

Offer useful training :

Companies should view training as career development.
Job Expansion:
Workers shouldn't be kept in positions only because they are "so excellent at it."
What's the next step for this employee, managers must constantly inquire. To
put it another way, the role should be given extra duties and obligations.
Promoting a culture of leadership concern:
Promoting a Culture of Leadership Concern- Companies worldwide must
demonstrate a desire to support employees in reaching their full potential. High-
performing, high-tech company offers independence in terms of schedules,
personal decisions, and problem - solving techniques.
Giving Fair Performance Appraisal
Recognize and reward Managers:
Companies claim to value people and train their management staff to handle
interpersonal conflicts. But too frequently, these same managers receive
compensation based only on their financial performance and technological
capabilities
System of Effective Communication :
Executives will need to clearly identify, develop, involve, and acknowledge
essential employees in order to keep top talent in the future. Traditional
remuneration models must be questioned, pointless red tape must be removed,
and possibilities for advancement must be made available. The high-knowledge
talent required to win in tomorrow's internationally competitive economy will
be retained by executives who develop a dynamic, innovative human resource
strategy.
12

The 3 R’s of Employee Retention

Respect

Recognition

Reward

To retain employees and maintain high levels of satisfaction, any firm must
adopt each of the three R's of employee retention: respect, recognition, and
incentives.
Respect is appreciation, special regard, or special consideration shown to
others. Respect, as illustrated by the pyramid, is the foundation for retaining
your staff. Employee recognition and rewards will have little impact if you do
not appreciate them.
Recognition is described as "particular notice or attention" as well as "the act of
clearly perceiving." Many retention and morale issues arise as a result of
management's failure to pay attention to people's demands and reactions.
Rewards are the additional benefits you provide in addition to the essentials of
respect and recognition that make it worthwhile for employees to work hard,
care, and go above and beyond the call of duty. While rewards are only a minor
part of the retention equation, they are nonetheless significant.
13

INTRODUCTION

Brief Introduction about the Company :

COMPANY HISTORY:
In 1988, Madura Garments was established which got acquired by the Aditya
Birla Group in 1999 & was renamed as Madura Fashion & Lifestyle in 2010.
In 2013, Pantaloons was bought by Aditya Birla Nuvo Limited (ABNL)
ABFRL was formed in May 2015 following the merging of the Aditya Birla
Group's garment operations, which included ABNL's Madura Fashion division
and ABNL's subsidiaries- Pantaloons Fashion and Retail Ltd acquired in 2013
and Madura Fashion & Lifestyle Following the merger, PFRL was renamed
Aditya Birla Fashion and Retail Ltd. (ABFRL).
ABFRL inked a Memorandum of Understanding (MOU) with Forever 21 for
India Business in 2016.
ABFRL introduced Simon Carter to India in 2017. That same year, ABFRL
formed a strategic collaboration with American Eagle.
ABFRL entered into a Store License and Distribution Agreement with Ralph
Lauren Asia Pacific Limited ("RLAPL") in 2018, which sells clothing and
accessories for men and women under the brand names "Polo Ralph Lauren"
and Ralph Lauren.
ABFRL established Style Up, a chain of large format affordable fashion stores,
in 2019. Style Up mainly operates big format stores ranging in size from 6,000
to 8,000 square feet, providing ethnic and western clothing and accessories for
men, women, and children.
ABFRL purchased a 34% investment in Tarun Tahiliani's luxury business in
2021, with the option to grow this shareholding to 51% in the next years
ABFRL purchased a 51 percent ownership in Masaba Gupta's brand House of
Masaba Lifestyle in January 2022 for Indian rupees 90 crores.
14

ABOUT PANTALOONS

Pantaloons started its journey in 1997, under the Future Group, with Kishore
Biyani. Manz wear Private Limited was the company’s initial name. On July
1997, it was renamed Pantaloons Retail Limited after a series of name changes.
The brand was later bought by Aditya Birla Group
Pantaloons offers its customers a collection of apparels and accessories from the
stables of well-known brands around the world. The women's section features
private labels such as bare denim, Jealous 21 , Anabelle, honey, and Ajile in
western style, as well as the best ethnic apparel from Rangmanch and
Akkriti .In the men's area, you'll find John miller, indigo, Byford, levis and
People. W and Biba, two well-known brands, are also available. Popular
international labels such as Van Hesuen, Allen Solley, Peter England, and Louis
Philippe offer crisp and well-tailored collections in the formal wear sector.
Private labels such as Bare denim and Bare leisure exclusive brands such as Lee
Cooper Juniors, chalk, pink, and blue are available to children.
Pantaloons is more than just a clothing store. Customers can purchase
fashionable spectacles, and the accessories and beauty sections have an
appealing choice of baggit purses.
Pantaloons, a subsidiary of Aditya Birla Fashion and Retail Limited, made a
profit of over 18 billion Indian rupees in FY year 2021
15

MARKET SCENARIO

Revenue of Pantaloons in FY2019-21

(billion Indian Rupees)

18.59

35.14

33

FY19 FY20 FY21

Source- https://www.statista.com/statistics/1044739/india-pantaloons-revenue/
Source -https://www.ibef.org/industry/retail-india
16

INDUSTRY SCENARIO

What is Retailing ? The word "retail" comes from a French-Italian combination.

A retailer is someone who takes a small bit of something and cuts off or sheds
it. Retailing is a collection of services that sells products or services to end users
for personal or household use. It accomplishes this by coordinating their
availability on a large scale while supplying them to customers on a small scale.
A retailer is a person, agent, agency, company, or organization that helps get
products, goods, or services to the end user or final consumer

UNORGANIZED
ORGANIZED RETAIL
RETAIL

RETAIL
CLASSIFICATION

ORGANIZED RETAIL : Organized traders/retailers are one who are licenced

to trade and pay taxes to the government.
UNORGANIZED RETAIL : It comprises of unlicensed small shops, such as
traditional Kirana shops, general stores, and corner shops, among other mall
retail outlets, but it remains the driving force of the Indian retail industry.
17

According to a survey, as the country recovers from the pandemic, the retail
industry has resumed its global growth and is expected to increase at a 10%
annual rate until it reaches USD 2 trillion by 2032. While certain industry
segments such as food and grocery, restaurants, and quick service restaurants
(QSR), and consumer durables have recovered to pre-COVID levels, others
such as jewellery and accessory apparel, and footwear remain on track to a full
recovery, as per a BCG-RAI report titled "Racing towards the next wave of
Retail in India."

E-commerce accounted for about a third of different electronic categories,

roughly half of all smartphones sold, and a quarter of all apparel sales in India
in the first half of 2021. More than $8 billion in PE/VC funding will be raised
by e-commerce and consumer technology companies in 2020, with four
hundred deals (excluding investments in Jio). With an estimated annual gross
merchandise value of $350 billion, India will become the third largest online
retail industry by 2030.

The retail market in India is mostly unorganized. The organized Indian retail
market, on the other hand, grew by 50% between 2012 and 2020, accounting for
approximately 12% of total retail. By 2025, the modern Indian retail business is
predicted to grow at a 15 percent compound annual rate (CAGR) to reach 18
percent. Major retail categories (organized by percentage) such as Apparel &
Accessories (18%), Consumer electronics (6%) and home & Living (6%) will
drive the increase in Organized retail
18

There are six major trends for Retailers to look out for in 2022-

Generation Z as consumers

Shop and GO GO GO

The Retail empire strikes back

Virtuous Circles

Tales of Unexpected

1+1=3

GENERATION Z AS CONSUMERS : Engaging Generation Z is becoming

increasingly crucial as they become both customers and employees. The
generation born between 1995 and 2010 is presently working. They not only
have their own buying power and are no longer dependent on their parents, but
they also have strong and distinct demands and needs that merchants and brands
must meet.

SHOP AND GO GO GO : Checkout-free stores, ultra-fast and autonomous

shipping are increasingly becoming mainstream as consumers want a
frictionless and frequently contactless retail experience.

THE RETAIL EMPIRE STRIKES BACK : The world of online and digital
retail is no longer the exclusive domain of the agile startup or online pureplay
corporation. The major established retail enterprises have begun to fight back by
embracing digital. The modern retailer's digital journey includes updating their
core, experimenting with digital products and services, and exploring the
Virtual world
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VIRTUOUS CIRCLES : Circularity is on a sudden rise, with the second-hand

clothes industry set to outpace fast fashion. Meanwhile, consumer views toward
sustainability indicate that tracking is a vital capacity necessary to keep climate
promises and meet science-based emission reduction targets.

TALES OF UNEXPECTED : Mindful consumption and a tough market are

prompting retailers to diversify and enter entirely new industries in order to
better utilise their assets and find new sources of growth.

1+1=3 : Retailers can achieve more than the sum of their parts through
innovative and distinctive partnership. In the coming year, merchants and
brands will work together to establish brand uniqueness and to handle society's
most challenging problems, such as climate change.
20

RETAIL FORMAT’S IN INDIA :

Hyper Market/Supermarket

Convenience Stores RETAIL FORMAT Shopping

IN INDIA Malls

Specialty
Departmental stores Vending stores
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RETAIL FORMAT’S IN INDIA :

 HYPER MARKET/ SUPERMARKET :
It’s a huge self-service establishments that sell things from a range of
categories

 DEPARTMENTAL STORES :
They are regular retail merchandisers who provide high-quality goods
and services.

 CONVENIENCE STORES :
Due to the obvious convenience offered, are located in residential areas
with slightly higher priced items

 SHOPPING MALLS :
Malls, Today's most famous kind of shopping, provide consumers with a
diverse range of items and services, including entertainment and food, all
under one roof.

 SPECIALTY STORES :
Specialty stores are retail networks that specialize in specific areas and
offer a wide range of products.

 VENDING :
Vending is a new comer in the retail sector. Vending machines are
available for the purchase of beverages, snacks, and other minor products.
22

COMPETITOR’S
23

About Competitor’s :
Shoppers Stop - Shoppers Stop is recognized as one of Pantaloons' biggest
competitors. Shoppers Stop was established in Mumbai, Maharashtra, in 1991.
Shoppers Stop works in the Fashion, Apparel, and Accessories industry.
Shoppers Stop earns $331.2 million less than Pantaloons.

Lifestyle - Pantaloons' number two competitor is Lifestyle International Private

Limited. Lifestyle International Private Limited is a private firm based in
Bangalore, Karnataka that was started in 1999. Lifestyle International Private
Ltd is that works in the Pharmacy, Health & Beauty industry. Lifestyle
Overseas Pvt. ltd. employs 2,000 relatively few people to Pantaloons.

Reliance Trends – Reliance Trends is one of Pantaloon’s Top Competitors,

Trend’s Headquarter is in Bangalore, and was founded in 2006, Trends, like
Pantaloons, is engaged in the Fashion, Apparel, and Accessories industry.
Company’s Overall Financial Performance of the 2022 FY was up to USD 16
billion

Westside - Trent Ltd., a unit of the Tata Group, was founded in 1998 and
manages Westside, one of India's biggest emerging retail chains. It’s
Headquarter is situated at Mumbai, Westside Revenue holds of 100$ Million

Max - Max Fashion India, an online and in-store retail store that sells clothing
and fashion apparel for men and women. The headquarters of Max Fashion
India are located in Bangalore, Karnataka. Max Fashion India's revenue per
employee is $263.5K.
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COMPETITOR’S ANALYSIS

Pantaloons Shoppers Westside Max Lifestyle Trends

Stop
No.of stores 344+ 86 132 200+ 77 557

No. of Employees 2500+ 1400+ 1500+ 1300+ 3713+ 2320+

Profit FY22 in Rs 31.90 Cr 16.10 Cr 34.60 Cr 117.68 41.29 Cr 2139 Cr

Cr
Loss FY22 in Rs 195.86 Cr 15.85 Cr 20.87 Cr 5.70 Cr 111.67 20.87 Cr
Cr
Revenue in Rs 5,294 Cr 2493.81 Cr 4,502 Cr 2,3520 Cr 8,1296 Cr 2000,00 Cr
25

PRODUCT’S
WOMEN:
WESTERN WEAR

• Tees & Tops

• Shirts & Blouses
• Dresses & Jumpsuits
• Suits & Blazers, Sweaters & Sweatshirts
• Shrugs
• Jackets
• Trousers
• Jeans
• Shorts Culottes & Capris
• Tracks & Joggers
• Skirts
ETHNIC WEAR-

• Kurtas
• Kurtis & Tunics
• Tops & Cholis
• Kurta Sets, Dresses Dupattas
• Leggings Skirts & Lehengas
• Pants & Palazzos
• Churidars
• Salwars
• SARIS
FOOTWEAR-

• Flip Flops
• Sandals
• Heels
• Sneakers
• Casual Shoes
• Loafers
MEN:

TOP WEAR –
• T-shirts
• Casual Shirts
• Formal Shirts
26

• Sweaters & Sweatshirts

• Jackets

BOTTOM WEAR
• Shorts
• Jeans
• Casual Trousers
• Formal Trousers
• Tracks & Joggers
ETHNIC WEAR
• Kurtas
• Pyjamas & Salwar

KIDS
BOYS :
• T-Shirts
• Shirts
• Jackets
• Sweaters & Sweatshirts
• Shorts
• Jeans
• Tracks & Joggers
• Trousers
• Sleepwear
• Ethnic wear
• Footwear
GIRLS:
• T-shirts,
• Tops & Blouses
• Jackets
• Sweaters & Sweatshirts
• Dresses & Dungarees
• Shorts & Skirts
• Jeans & Trousers
27

• Leggings & Jeggings

• Tracks & Joggers
• Sleepwear
• Ethnic wear
• Footwear
HOME DÉCOR:
DÉCOR
• Candles & Votives
• Vases
• Decorative Boxes
• Platters
• Table Accessories
• Plants & Planters

LIVING
• Cushion covers & Fillers
• Rugs
DINING
• Table cloth
• Placemat
BED
• Bed sheet Sets
• Bed Cover
• Pillow cover
• Quilts
BATH
• Bath mat
• Bath towels
• Face towel
BAGS
• Cross body bags
• Mini Bags
28

• Tote Bags
• Women Backpacks
• Clutches
• Women Wallets
• Men Wallets
29

BRANDS
MEN’S
30
31

WOMEN’S
32
33

KID’s:
34

HOME DÉCOR
35

Organization Profile
Pantaloons Retail (India) Limited is a premium clothing retailer based in India.
Pantaloons Retail (India) Limited currently offers approximately two
hundred local and worldwide brands, but it has the potential to become a big
Indian retailer.
It is a commerce within the country.  Kishore Biyani, popularly recognized as
India's "King of Retail," is the company's founder. Pantaloon features a wide
range of retail stores in both the value and lifestyle areas of the market
Consumer marketplaces in India. Pantaloons first officially opened in 1992.  In
1997, Kolkata. Pantaloon was formerly under the authority of the Future Group
Aditya Birla Fashion & Retail (ABFRL) on the other hand, has taken over the
Pantaloons in 2013
Type – Public
Industry- Retail
Founded- 1997
CEO – Sangeeta Pendukar
Headquarters- Mumbai, Maharashtra, India
Number of Locations – 344+
Revenue- 18 billion Indian Rupees
Website- www.pantaloons.com
36

ORGANIZATION STRUCTURE

BUSINESS HEAD (Zonal Head)

AREA BUSINESS MANAGER

STORE MANAGER

DEPARTMENT HEAD
Department Manager Head Cashier Warehouse Manager VM

STAFF
Fashion Assistant Cahier Warehouse Assistant
37

HR DEPARTMENT STRCUTURE

CHRO (Head of ABFRL)

HR Head Pantaloons

Zonal HR

Area HR

Cluster HR
38

MODEL’S OF STORE’S

COCO : FOCO :

COMPANY OWNED COMPANY FRANCHISE OWNED COMPANY

OPERATED OPERATED

COFO : FOFO :

COMPANY OWNED FRANCHISE FRANCHISE OWNED FRANCHISE

OPERATED OPERATED

FICO :

FRANCHISE INVESTED COMPANY

OPERATED
39

COCO Model : COCO stands for Company Owned and Company Operated,
which means that the brand owns and operates the franchise shop unit. It
essentially has nothing to do with franchising. As a result, the business invests
its own funds in the franchise. And the franchise is controlled by brand workers.
Example – Reliance Jio Mart

FOCO Model : FOCO stands for Franchise Owned Company Operated, In the
FOCO model, the investor (franchise) bears the initial setup cost. And the Brand
is in charge of operations. The Brand bears the operating costs (operations). As
a result, the franchisee receives a minimum guarantee or a percentage of
revenue collected in exchange. In this case, the franchise investor owns the
firm, and the company is in charge of running it and taking care of all the
required details. The corporation will also be required to offer the franchise
owner a predetermined percentage of profit shares.

COFO Model : COFO stands for Company Owned Franchise Operated, This is
where the companies invest in the franchise model and the franchise operates it
in accordance with the brand's guidelines. The results for this can range between
the FOCO and FOFO models. This is unusual and uncommon in the sector
because most organizations investing in the expansion of their business
operations would want to run it themselves.

FOFO Model : FOFO stands for Franchise Owned Franchise Operated, The
company gives the franchise investor its brand name in this strategy. And they
give it for a certain non-refundable fee (franchise fee) and for a set time period.
The brands determine the prices and items for the outlet. As a result, the
franchise investor owns the store, and the franchise must bear all operational
costs. Furthermore, the Franchise must pay a percentage of earnings (royalty) to
the Brand.

FICO Model : FICO stands for Franchise Invested Company Operated, This
model is comparable to the FOCO model. However, in the FICO model, Brands
raise funds from Investors with the promise of creating franchisees. Essentially,
the investor (franchise) just invests in the firm. As a result, the franchise
investor is not involved in any business activities.
40

LITERATURE REVIEW

According to Hytter (2007) , realized that Employee retention is influenced by

elements such as personal foundations of loyalty, trust, commitment, identity,
and attachment with the firm. She also stated that workplace elements such as
leadership style, rewards, career possibilities, training and development skills,
physical working conditions, and the balance of personal and professional life
all have an indirect impact on employee retention.

According to Punia & sharma (2008) , found that In the current economic
climate, major elements influencing employee retention include induction
programmes, scientific job analysis, and fair and skill-based distribution of
work assignments. According to the study, the influence of age on employee
position is an essential component in employee retention.

According to Glen (2006), presents a framework that supervisors should use

when interacting with their employees to determine the causes of retention,
which include nine different predictors: organisational processes, role challenge,
values, work life balance, information, recognition, management, work
environment, and product or service.

According to Boyar et al (2012), indicates six explanations have been

proposed to explain why people leave their occupations. These characteristics
include family problems, travel distance, job content, job-related stress,
friendship relationships, and managerial support. Employees with fewer
financial obligations were shown to be more likely to depart the firm.

According to Suhasinin & Naresh Babu (2013), Employees leave

organisations due to dissatisfaction with organisational culture, compensation,
lack of motivation, and a challenging work environment, but if employees are
provided with better career development opportunities, an open and trusting
environment, effective use of employees' skills, and management policies
regarding rewards and recognition, employee retention can be encouraged.
41

LITERATURE REVIEW

Acoording to George (2015), in his study found that Employee retention could
be enhanced. Identify two types of retention factors: organisational and job-
level. Management, a nice workplace, social support, and possibilities for
advancement are all organisational variables. Compensation, autonomy, work-
load, and work-life balance are all job-level factors. Organizational level
characteristics were discovered to be more essential for employee retention than
job level factors.

According to Satpal et al (2016), According to his research, the most

important aspects that an employee should examine while considering a job
move are the work environment, family difficulties, remuneration, and
relationship with supervisors.
42

OBJECTIVES

1. To study the impact of job satisfaction on employee desires to stay at

Pantaloons
2. To identify key organizational factor that affect employee retention

.
43

RESEARCH PROBLEM STATEMENT

Rise of employee resignation has a negative impact on company employee

retention, causing high costs to the company and preventing future
performance.

HYPOTHESIS

H0(null hypothesis)- There is no significant relationship between job

satisfaction and employee’s desire to stay.
H1(Alternative hypothesis)- There is a significant relationship between job
satisfaction and employee’s desire to stay.

Variables

Dependent Independent
(Job satisfaction) (Desire to stay)
44

RESEARCH METHODOLGY

A research problem can be approached methodically using research

methodology. It can be thought of as a science that studies the methodologies
used in research studies and how research is conducted scientifically. The type
of methodology used all through this time of work is descriptive.
Research approach method- Survey
Area of study- The survey was carried out in 3 stores of Pantaloons Pune
names- ICC Pantaloons, Pavilion mall , SGS mall
Data source – Primary data
Tool for data collection- The research tool used in this study is structured
questionnaire which consists of 10 questions. It was determined before
conducting the survey. The questions were open ended.
Sample size- The sample is 60 employees which only includes on pay roll PT
staff
Sampling method- Sampling procedure used for this study is Anova one way
factor
45

DATA ANALYSIS & INTERPRETITON

For the Hypothesis testing , I choose 2 variables which are Job satisfaction and
Desire to stay.
I choose Anova single factor which I did from Microsoft Excel, from the
Questionnaire there was 2 questions which were accurate according to the
variables
The Interpretation of Anova single factor is the P value came out to be 0.00635,
F value was 7.720516963 and F crit value was 3.921478,
Now it is stated that if significant value is > then the P value, then we reject the
null hypothesis and when F value is > F crit value, we reject the null hypothesis
Level of significance is taken as 0.05
Both of these conditions are being satisfied with my Anova single factor Test

So, with this conclusion I came to an Interpretation that my Null hypothesis will
be rejected that means my Alternative hypothesis will be accepted which means
that when an employee is self-satisfied, he have a willingness to stay in the
organization
46

INTERPRETATION

Q1. On a scale of 1-5 you see yourself growing and developing your career in
this organization (1 being the lowest ,5 being the highest)

CAREER
DEVELOPMENT
RESPONSE
OPTION S
OPTION
5 3
OPTION
4 41
OPTION
3 16
Source- Primary data

CAREER DEVELOPMENT
16
3

41

OPTION 5 OPTION 4 OPTION 3

INTERPRETITION – The above pie chart shows that out of 60 employees, 41

provided a rating of 4 whether they see themselves growing and developing
their career in this organization , 16 gave the second-highest rating of 3, while
the remaining 3 gave the highest rating of 5
47

Q2. On a scale of 1-5 How secure do you feel in your current role

JOB SECURITY
OPTION RESPONSE
S S
OPTION
5 6
OPTION
4 37
OPTION
3 17

RESPONSES

OPTION 3 17

OPTION 4 37

OPTION 5 6

0 5 10 15 20 25 30 35 40

INTERPRETITON- The above bar graph shows that Out of 60 employees, 37

employees gave a rating of 4 of being secured in their current role whereas, 17
employees gave the second-highest rating of 3, and the remaining 6 employees
gave the highest rating of 5
48

Q3. Do you feel you are able to balance your work life ?

WORK LIFE BALANCE

OPTION RESPONSES
YES 25
NO 16
MAYBE 19

WORK LIFE BALANCE

19
25

16

YES NO MAYBE

INTERPRETITION- The above data represents that Out of 60 employees, 25

responded positively to having a work-life balance, 16 responded negatively,
and the remaining 19 responded uncertainly.
49

Q4. On a scale of 1-5 how much you are Appreciated and recognised for your
work

APPRECIATION &
RECOGNITION
OPTIONS RESPONSES
OPTION 5 7
OPTION 4 43
OPTION 3 10

APPRECIATION & RECOGNITION

10 7

43

OPTION 5 OPTION 4 OPTION 3

INTERPRETITION- Out of 60 employees, 43 provided a rating of 4, 10 gave a

rating of 3, and the remaining 7 gave the highest rating of 5, indicating that they
felt valued and recognised at work.
50

FINDINGS

I may infer from the analysis of hypothesis testing that the employees were
content with themselves and remained willing to work for the company.
I may infer from the previous data interpretation that employee recognition, job
security, a work-life balance, and the belief that their career is advancing
positively affect employee retention.
When asked what kept them at PANTALOONS, Training Activities were
commonly mentioned.
However, a number of respondents stated that they liked and found their job
interesting.
51

RECOMMENDATION
Organizations should have a purposeful retention strategy that lowers staff
turnover. Retention plan techniques ought to be diverse for various levels of
employees because of the differences in their jobs, demands, and factors that
both encourage and drive them to quit. Employee retention in the firm is
influenced by characteristics such as age, education level, and intrinsic
motivation. Therefore, based on the results, it can be concluded that if the
employees are engaged and motivated at work, they can be retained. Their level
of engagement and motivation would determine how simple it would be to
retain them.
As we saw many of the employees were indicating their answer towards
uncertainty level of having a work life balance so the organization should make
them aware of mental health and give workers flexible work schedules that can
be adjusted to meet their needs.
We could infer from the secondary data the significance of the employee-
employer connection. It is quite important for staff retention.
Therefore, the organisation should create and implement programmes that help
to improve this area. A few interactive sessions ought to be scheduled on a
regular basis. Additionally, the firm should have a transparent communication
strategy that will aid in resolving 90% of issues that are encountered.
Last but not the least, there should be a casual interaction between employees
and senior management Stay Interview should be a priority
52

LIMITATIONS

The scope of the study is restricted to a few aspects:

1. The study was only as comprehensive as the data supplied by

employees of a specific grade.
2. The study's findings cannot be broadly applied. A bigger dataset has to
be used to test the study.
3. The study has only taken into account a few criteria when analysing
retention and other perceived attitudes of the employees, hence the
replies from the employees may be casual in nature and biased.
53

CONCLUSION

Any organization's primary goal is to make money. However, in order to make

the most money, the company needs to focus more on its personnel and
strategies to keep them around for the long term. The results of an analysis of
employee retention at Pantaloons Fashion and Retail Limited in Pune over a
two-month period showed that most respondents were satisfied with the
organisation. To improve the organization's potential for growth and to lighten
the workload of its employees, Pantaloons can develop and put into place new
retention policies.
Based on the results of the study, we can conclude that the best strategy to
increase employee retention is to identify and meet the needs and wants of the
workforce. Naturally, the organisation must, within reason, satisfy employee
demand. Although it is true that not all requests can be granted, management
can nevertheless make an effort to persuade the staff.
Organizations should make an effort to implement the majority of retention
rules, as this will have a beneficial impact on the problem. Even the staff should
be aware of the organization's boundaries and behave appropriately. The issue
of employee retention is greatly reduced if there is improved communication
between the two sides.
Both sides should be informed about the current situation and their
surroundings. Every company should realise that its finest resource is its
employees. Any business would be in serious problems without qualified
personnel who are proficient in their fields. Long-term, keeping current staff
saves the organisation money.
Attrition and turnover clearly have significant costs, some of which are hidden
from the management reporting or budget system but are nevertheless present.
There isn't a single attrition management strategy that works for all businesses.
Based on the compatibility between organisational and individual goals, each
organisation must develop its own motivational system.
54

RETENTION STRATEGY USED AT PANTALOONS RETAIL &

FASHION LTD.

1. Promotion Programs like (PEARL,SAKSHAM,DAKSH,IFSM)

2. Voluntary Retirement scheme
3. Various Reward schemes (eg- Employee of the month award )
4. Skip level meeting
5. Focused group discussion
6. Retention Interview’s
7. Employee referral policy is also used in which they offer decent amount
according to the post
55

FUTURE SCOPE OF THE STUDY

Since the research presented in this report only examined the Pantaloon store in
the west region
In the future, anyone can research an entire city or region.

REFRENCES

https://en.wikipedia.org/wiki/Aditya_Birla_Fashion_and_Retail
https://www.pantaloons.com/
https://www2.deloitte.com/
https://www.similarweb.com/
https://www.statista.com/
https://retail.economictimes.indiatimes.com/
https://ir-library.ku.ac.ke/

Hytter, A. Retention strategies in France and Sweden. The Irish Journal of

Management, 28 (1), 2007
Punia, B.K., & Sharma, P .Why do Employees seek alternative Employment
and what makes them stay: The case of Indian IT industry. Journal of Asia-
Pacific Business Review
George, C.Retaining professional workers: What makes them stay? Employee
Relations
Satpal and Manju Dhillon. Retaining Employees in Indian IT sector.
International journal of Science Technology and Management
Suhasinin, N., & Babu T, N .Retention Management: A Strategic Dimension of
Indian IT Companies. International journal of Management and Social Science
Research
56

ANNEXURE

Questions Answer
Gender
Designation
Store name
Tenure
On a scale of 1-5 how much you are
Appreciated and recognised for your
work , 1 being the lowest 5 being the
highest

On a scale of 1-5 you see yourself

growing and developing your career in
this organization (1 being the lowest ,5
being the highest)

On a scale of 1-5 How secure do you

feel in your current role

Do you feel you are able to balance

your work life ?

On a scale of 1-5 I'm willing to

continue my tenure with pantaloons
retail

On a scale of 1-5 Doing my job gives

a sense of achievement

What motivates you to work at

Pantaloons