employee retention project in hykon india pvt ltd thrissur

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CHAPTER 1

INTRODUCTION

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1.1 Introduction to the study

The topic entitled “Employee Retention With Reference To Hykon India Pvt Ltd Thrissur”. The

main objective is to study about the effectiveness of employee retention of Hykon India Pvt Ltd.

Also to get an insight about the organization and to analyze the employee satisfaction levels,

employee opinion, quality of work life and offer suggestions to the organization.

Employee retention is a process in which the employees are encouraged to remain with the

organization for the maximum period of time or until the completion of the project. Employee

retention is beneficial for the organization as well as the employee. Employees today are

different. They are not the ones who don’t have good opportunities in hand. As soon as they feel

dissatisfied with the current employer or the job, they switch over to the next job. It is the

responsibility of the employer to retain their best employees. If they don’t, they would be left

with no good employees. A good employer should know how to attract and retain its employees.

The study is conducted among the employees of Hykon India Pvt Ltd in Thrissur region. In this

research, primary and secondary data are mainly used. Primary data is collected through

structures questionnaire with a sample of 50 among the employees in the organization. Here

convenient sampling is used for collecting primary data. The secondary data is collected through

journals and websites. The result was tabulated, analyzed and it is plotted on graphs and then

interpreted. Percentages analysis is used to analyze the data.

The findings of this study have helped the researcher and accompany to understand about the

retention in the organization, and from this study it is found that majority of the employees are

highly interested to retain in the organization by considering the working condition and job

satisfaction.

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1.2 Industry profile

Power electronics, the basic technology for electric power conversation and control utilizing

the advanced power electronic devices such as inverters, UPS and stabilizers. The application

areas are wide from power utility systems and uninterruptible power sources to express train

drives and robot arm drives.

There has been a critical situation with electricity supply of first aid departments in many

incidents with tragic outcomes. The number of electronic power switching off, complicating

doctors work under conditions of rendering of emergency helps to the patients in tens and

hundreds times more. Therefore, in conditions of poor quality and reliability of existing electric

systems, it is necessary to have a system of uninterrupted power supplies in each emergency

first-aid hospital department to maintain the independence from casual circumstances, acts of

nature etc.

Online UPS systems and inverters are used in hotels nowadays. The UPS system has 3 modes

of operation: normal, emergency and recovery. Stabilizers also play an important role in our

day-to-day lives.

1.2.1 The age of electronics

The science and engineering of electronics are less than 100 years old. Developments in

electronics have been very fast, particularly over the past three decades and the industrial and

commercial applications have fortunately kept pace with these developments. Electronics

stands at the forefront of the rapidly expanding horizons of science and technology. Global

communication of information, digital computers, data processing at incredible speed, robots,

controls of machines, process and energy etc. are all gifts of electronics.

1.2.2 Electronics in industry

In this developing society, electronics have come to stay, as most important branch of

engineering. Electronics devices are being used in almost all the industries for automation and

quality control and they are fast in replacing the present fast army of workers engaged in

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processing and assembling in the factories. Great studies taken in the industrial applications of

electronics during the recent years have demonstrated that this versatile tool can be of great

important in increasing production, achieving efficiency and control.

1.2.3 Electronics in industry in India

Numerous issues confront the Indian electronic industry threshold of the new millennium.

Despite of this, the electronic industry grew remarkably over the last decade and the half. In

terms of potential, India is the second largest market for electronics in the world. Taking the

entire market, consumer electronics holds about 40 percent share and the rest sixty percent is

with electronic hardware production.

In Indian scenario, up to 1980’s the electronic industry had grown around three major centers

namely Mumbai, Pune and Delhi. Now the trend is that south Indian cities like Bangalore

Hyderabad and Chennai seems to be racing past north Indian regions in struggle to become

next power house country. The north Indian state seems to be losing its charm and subsequently

more investors are running down to south. The principal strength in south India for the growth

of electronic industry is the abundant availability of skilled and technically qualified man

power, government’s interest in this area, supportive work culture, scope for international trade

etc.

1.2.4 Scope of Kerala

In electronic industry when we take state wise contributions, Karnataka occupies first space,

and Kerala comes to the sixth place. From this the role played by Kerala in electronic market is

not bad. The prime reasons are;

Kerala has a good marketing base, good trading centre , better infrastructure, hassle free

environment , notified industrial estates , state governments drive in their field and moreover,

good place for import and export.

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1.2.5 Future of electronics

The area of electronics is expanding at a rapid pace and electronic equipment has become

indispensible to 50 modern living. Growth in electronics has been phenomenal and these in turn

have changed life style of people. The ease , precision, sophistication and flexibility provided

by electronics in all kind of modern system such as communication, computer, control,

automation and entertainment has made it very important subject of study for engineers of all

specification. The world of electronics is now going through digital revolution.

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1.3 Company profile

Hykon is an ISO 9001:2008 company. it is a professionally managed growth oriented company

began in the year 1991, with the establishment Hykon electronic system at Ollur in Thrissur

district of Kerala, initially the company had only one product- electronic inverter ups systems,

servo voltage stabilizers and battery chargers – set up transformers, water level controllers,

solar energy systems etc, through the constant market surveys, research, innovations and

developments. Now the company has further poised for innovations and in the process of

gaining corporate identity in the global level.

Eventually, the research and development wing has developed new generation lighting to add a

further on luminary industry. The lighting industry worldwide undergoing rapid technological

development, but there is a need to update the Indian scenario with the latest trend; this lead to

the development of such a light fitting to tap off emerging market. The rising cost of energy

puts over increasing emphasis on the use of energy cost. The operations of the company are

channeled from its corporate office, Thrissur. In order to provide products at par with

international quality, the company is credited with iso9001:2008 certification and inducted total

quality management system to enhance the operational efficiency

1.3.1 Origin of Hykon

Hykon, an ISO 9001:2008 company, is a pioneering presence in the field of power electronics

with varied interest in medical transcription, information technology, solar energy and so forth.

Mr. Christo George, a committed and dedicated techno craft, set it up in 1991. A small unit

with a working capital of Rs. 50,000 and only five employees, it was a real humble start for an

engineering graduate. Under his able stewardship the company has made rapid strides. Now

Hykon is a multi-crore turn over company that directly employs more than 500 employees.

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1.3.2 Vision, Mission and Quality policy

Vision

Hykon will be a world class solution provider in energy management and information

technology.

Mission

By 2014, Hykon will be a multinational company and will be exporting energy efficient

products. By the year 2019, Hykon will be leading research institute catering to the needy

society for non conventional energy and marketing the same product throughout the world at

affordable cost for the common man.

Quality policy

Hykon commit to produce and supply quality of current technology and provide prompt

services, at affordable prices to satisfying the employees. The organization will achieve the

goal by designing, manufacturing and supplying product through quality management ensures

quality policy.

Quality Objectives

1. Top management ensures quality objectives

Including those needed to meet the requirements are established at relevant functions

and levels in the organization.

Are measureable and consistent with organizational objectives.

2. Organizations quality objectives are given below

Customer satisfaction : > 95 %

Customer complaints : < 5/100 customers

Delayed deliveries : < 5 %

Growth rate / year : > 30 % in sales (by values)

Man-hour lost due : < 1 % (rework)

HR department training of employees : 10 man day/annum/person

Employees suggestion obtained : > 480 / year

Reduction of absenteeism of employees : > 25 %

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1.3.3 Hykon team

Hykon group is headed by a dynamic technocrat founder Mr. Christo George, chairman and

managing director, an electronics and communications engineer. He assisted in the operations

of the companies by his wife Mrs. Catherine Christo. The rest of Hykon team is made of over

500 motivated employees-engineers, sales services and administrative personnel. The continual

success of Hykon is because of the total involvement of all employees.

The company started with just 5 employees. It branded out into an aspiring group of companies

with diversified activities. The company that initial made its presence in the market through a

solar product, an electric inverter, now concentrates in manufacture of high frequency

IGBT/MOSFET bared UPS systems. It also provides the requirements of highly sophisticated

medical equipment and other advanced instruments. Hykon have received the prestigious ISO

9001 for 3 of its group companies and is in the process of implementing the total quality

management.

1.3.4 Core group

Hykon has been driven by committed, dedicated strong team of executives. Hykon has

constituted a policy formulating core committee which will plan strategies for each company

and get it done through their team members. Core group is the top decision making body of

Hykon group. This core group sits monthly and reviews the performance of each group

company. This core group is also responsible for setting goals, budgeting and provides a

framework of the operations of each company. The core group takes decisions on the basis of

inputs, advises, suggestions data and inspirations given by all the Hykon family members. We

firmly believe that total employee involvement is the key to sustainable growth and it is our

philosophy too.

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Core group members:

Chairman and managing director Mr. Christo George

Managing director Mrs. Catherine Christo

Executive director Dr. Santhosh Koshy

Vice president Dr. Vinod Rajagopal

General Managers Mr. R.N. Kiran and

Mr. Harikumar

Advisor Mr. R.V. Achuthan

Production manager Mr. Sunny Varghese

Regional manger Mr. Santhosh T.R

Administration manager Mrs. Liny James

Finance manager Mr. Paul C.J

Purchase manager Mr. R.G.Rajesh

Manager – inverter Mr. Nijo C Jose

Group companies

Some of the core group companies are;

1. Hykon Electronic Systems : Started In 1991

2. Hykon Power Electronics (P) Ltd : Started In 1997

3. Hykon India (P) Ltd : Started In 1998

4. Hykon Transcripts (P) Ltd : Started In 1999

5. Hykon Solar Energy (P) Ltd : Started In 2010

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1.3.5 Hykon electronic systems

The saga of Hykon group of companies began in the year 1991, with the establishment of

Hykon Electronic Systems at Ollur, in the Thrissur District of Kerala. It was started out as a

company with just 5 employees, now has staff strength of 50. Initially, the company made its

presence felt in the marketplace through its sole product the electronic inverter. Slowly,

through constant market surveys, research, innovation and development, the product range has

grown to over 30 product that include UPS Systems, servo voltage stabilizers, battery chargers,

step-up transformed, water level controllers, solar energy systems etc. HYKON

ELECTRONIC SYSTEMS is one among the “HYKON” Group engaged in the production of

Energy, Efficient Lighting Systems and Printed Circuit Board for all HYKON PRODUCTS.

This unit is a winner of National Award for quality Products in 1997 and ISO 9001-2000

Certified company.

With its marketing acumen, computerized and networked offices, the company is all set to

launch cutting edge lighting products. These Thin Light and Slim Light lighting products cut

around 50% on energy costs. The company has launched the products across South India and

plans to go National in the near future based on market responses.

Thin Light is coming with T5 tube and Slim Light with T8 tube with built in electronic control

gear is compact and light weight. Hykon Luminary is having Unity Power Factor and

Auto/Manual dimming facility. These luminaries are sleep in design, engineered in plastic

body making it useful in every application of interior lighting. This lamp fulfills the basic need

of aesthetics, sleekness and energy efficiency of professional user and consumers.

1.3.6 Hykon power electronics (p) ltd

The company was started its manufacturing operation in November, 1997 at Kuttanellur,

Thrissur, in the Central part of Kerala and is having a total employee strength of 50. The

Company is registered as an SSI Unit, having permanent Enlistment with NSIC and is having

ISO 1900 – 2000 Certification.

The company is manufacturing True Online UPS Systems, Inverters, Servo Controlled Voltage

Stabilizers, Battery Chargers and custom based multifarious power electronic products. The

company is committed to total customer satisfaction by designing, manufacturing and

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supplying quality products, through quality management system for continual improvement.

The unit is having a well-equipped Research and Development wing continuously engaged in

upgrading the technology to fulfill the supply of quality product with current technology and

economic pricing. The company has been awarded the rate contracts from M/s. VSSC & DGS

for true online & interactive UPS System.

1.3.7 Hykon India (p) ltd

Hykon India (P) Ltd is an ISO 9001 certified company that overlooks the marketing and

servicing of Hykon products. With its corporate office at Thrissur, the company has its

branches in Trivandrum, Kottayam, Kochi, Palakkad, Calicut, Kannur, Bangalore, Mangalore,

Chennai, and Coimbatore. With its well established network of dealers, Hykon is now all set to

expand its operations to other parts of the country too. Hykon has a full-fledged service

division providing service and support, including under AMC, for all Hykon products and a

wide range of other electronic equipment.

As well all know, the greatest power source for this world is up there in the sky the Sun Hykon

India is making a significant contribution to the environment by harnessing this cleaning

renewable energy and making it conveniently usable in homes and manufacturing / business

facilities. Hykon India has the humble objective of changing the world by bringing power to

people. Our talented staff is determined in their efforts to help you find renewable solutions.

Hykon India has acquired excellent technical personnel who are aware of new technologies and

industrial trends. Friendly and knowledge-able, they care about your need.

1.3.8 Hykon transcripts (p) ltd

Hykon transcripts, part of multi crore Hykon Group, is an IT and IT enabled technology

solutions provider dedicated to developing creative, cost effective and timely solutions to

business by leveraging the latest in technological developments and strategies.

Based at IT Part, Cochin Special Economic Zone, we offer spectrum solutions for small,

medium and large scale business people ranging from customized Internet/Internet application

development, website design, multimedia and graphics solutions, e-commerce, intranet

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implementation, web hosting, web site optimization, medical transcription, internet marketing

solutions, and to sophisticated back-end solutions including database development, customized

software development, data management, software testing and IT consulting. All of our

projects are professionally managed providing you with a single point-of –contract for project

communications.

Our core strength lies in our employee’s broad technical expertise, extensive experience and

commitment to providing customized and timely solutions at cost effective prices. Our clients

range from individuals and small business to large corporations and service organization. Our

philosophy is having long-lasting strategic relationship with clients, understand their business

needs and work in harmony to achieve their objectives. We do compromise on customization

and changes, but not on quality, service and perfection.

1.3.9 Hykon solar energy (p) ltd

Hykon solar is the division of Hykon India (P) Ltd., which provides with total energy saving

using solar energy. Hykon solar is making significant contribution to the environment by

possessing the solar energy, the greatest renewable source of energy and making it

conveniently usable in homes and manufacturing business facilities. Hykon solar is the

popularizing the use of a solar power by offering innovative product and equipments with

manufacturing facilities at Palakkad, Kerala and administrative office in Kochi, Hykon solar

officers;

Solar water heater

Solar driers

Solar inverters

Solar street and home lighting system.

Hykon solar has the humble objective of changing the world by bring power to people. Our

talented staff is determined in their efforts to help you find reasonable solutions. Hykon solar

has acquired excellent technology in renewable energy. The company in manned by

experienced technical personal that are aware of new technologies and industrial trends

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1.3.10 Market share

Hykon hold 20% of the market share. Samsung is the main competitor of electronics and

they hold 60% of the market share.

Hykon has certain unique features as far as the formation of the company is concerned

where as the normal tendency of the NRI s ,In these days , Is to invest their money real

estate , this groups has courageously chosen the hard option of investing for promoting a

company in a remote village in Thrissur District, Kerala.

(Chart 1.3.10 :Showing market share of Hykon and Samsung)

20%

20%60%

Hykon

Samsung

Others

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1.3.11 ORGANIZATION STRUCTURE

COMPETITORS

Samsung

LG

Reliance

Barat Electronics

Asian Electronics

MANAGING DIRECTOR

EXECUTIVE DIRECTOR

PURCHASE

HEAD HUMAN

RESOUR

CE HEAD

MARKETING

HEAD

SERVICE

HEAD

FINANCE

HEAD

PRODUCTION

HEAD

Assistant HR

manager

Assistant

manager

Purchase manager

Finance manager

Assistant purchase

manager

Supervisor Area manager Senior accountant

Worker Service

coordinator

Junior purchase

manager

Accountant

Worker

Marketing

Executive PACKING

SECTION

QUALITY

CONTROLLER

PRODUCT

SECTION

Representatives

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1.3.12 Company life cycle

Life cycle is very important part of an organization. It indicates four stages in a company.

They are introduction, growth, maturity and decline. Hykon is in growth stage. It is one of the

fastest growing companies that provide total solutions relate to Electronic products.

Customer are aware of the product at this stage and are convinced that it serve their needs.

Customers understand the generic benefit of the product and the company now builds sales

and market share by building brand preference. The product is redesigned to create

differentiation and promotion lays stress on the benefit of the differentiated product focus is to

ensuring repeat purchases. The company tries to achieve this purpose by focusing its effort on

building a strong brand. A strong build at this stage helps the company to fight competition as

they emerge in hordes at this stage. There is pressure on prices due to entry of large number of

competitors.

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FUTURE PROSPECTS AND GROWTH PLAN

The company focus on quality and the initiatives for increasing the production level

further should lead to better performance in future. Company’s on production levels

would remain flat as currently the company is going for massive highest replanting

exercise that would start producing results in 2-3 year’s time and would make the firm

highest land productivity in production sector.

Listed below are the future prospects of the company

Extension of business whole over in Kerala and export of power item outside the

country.

Branding of the name and advertisement of products.

Highly efficient production units.

Promote high sale.

1.4 Statement of the problem

The research problem is to study about the employee retention of Hykon India Pvt Ltd.

Employee Retention refers to the techniques employed by the management to help the

employees stay with the organization for a longer period of time. Employee retention strategies

go a long way in motivating the employees so that they stick to the organization for the

maximum time and contribute effectively. Sincere efforts must be taken to ensure growth and

learning for the employees in their current assignments and for them to enjoy their work.

Employee retention has become a major concern for corporate in the current scenario.

Individuals once being trained have a tendency to move to other organizations for better

prospects. Whenever a talented employee expresses his willingness to move on, it is the

responsibility of the management and the human resource team to intervene immediately and

find out the exact reasons leading to the decision

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1.5 Scope of the study

In the present scenario employees are looking for a job that provides them a satisfactory working

conditions and salary. In addition to this they also focus on the career growth opportunities in

their job. In this context it is significant to conduct a study on company’s employee retention

strategies and also analyze the level of employee satisfaction as well as the problems faced by

them. It helps to know the current situation in the company and also helps to know what their

expectations from the organization are.

1.6 Objectives of the study

1.6.1 Primary : To study the effectiveness of the retention practices adopted

by Hykon India Pvt Ltd

1.6.2 Secondary : To understand the various factors behind the intention to stay

in the organization

: To measure the satisfaction levels of employees towards the

companies retention strategies.

: To offer suggestions to the company for employee retention

1.7 Research methodology

Research is the process of systematic and in-depth study or search for any particular topic,

subject or area of investigation, backed by collection, compilation, presentation and

Interpretation of relevant details or data. Research methodology is a way to systematically solve

the research problem. It may be understood as a science of studying how research is done

scientifically.

Research may develop hypothesis and test it. In it we study the various steps that are generally

adopted by the researcher in studying his research problem along with the logic behind them.

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Research must be based on fact observable data forms a sound basis for research inductive

investigation lead better support to research finding for analyzing facts a scientific methodology

of analysis must be developed and result interpreted logically.

It is necessary for the researcher to know not only the research method or techniques but also the

methodology. Thus, when we talk of research methodology we not only talk of the research

methods but also consider the logic behind the methods we use in the context of our research

study and explain why we are using a particular method or technique and why we are not using

others so that research results are capable of being evaluated either by the researcher himself or

by others.

Research problems would result in certain conclusions by means of logical analysis which the

decision-maker may use for his action or solution.

1.7.1 Type of study

Descriptive Research: Descriptive research is used to describe characteristics of a

population or phenomenon being studied. It does not answer questions about how/when/why

the characteristics occurred. Rather it addresses the "what" question (What are the

characteristics of the population or situation being studied?). Descriptive Research does not

fit neatly into the definition of either quantitative or qualitative research methodologies, but

instead it can utilize elements of both, often within the same study.

1.7.2 Duration of the study

This study is carried with duration of 21 days starting from starting from 2nd

September 2015

to 26th

September 2015.

http://en.wikipedia.org/wiki/Statistical_population

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1.7.3 Types of data

In this study, the foremost data collection instrument used is the questionnaire method. Apart

from this, the research instrument consists of primary data and secondary data collected for

the study.

Primary Data– Primary data is collected by distributing printed questionnaires to the

employee of Hykon India Pvt Ltd.

Secondary Data – Secondary data was collected from the company journals and the

related websites.

1.7.4 Sampling unit

Employees of Hykon India Pvt Ltd, Thrissur.

1.7.5 Sample size

Sample size used for the study is 50 employees of Hykon India Pvt Ltd Thrissur

1.7.6 Sampling method

The sampling method used is Convenient Sampling

1.7.7 Tools for data collection

The data used for this study is collected directly from the respondents through

Questionnaires.

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1.7.8 Tools for data analysis

Statistical tools are used for analyzing the data. In this study Percentage analysis is used.

Percentage Analysis:

This is a uni-variate analysis, were the percentage of a particular factor with different

categories are calculated, in order to help one get fair idea regarding the sample and thereby

that of population.

1.7 Limitations of the study

Some employees had trouble understanding the questions in the questionnaire.

Some employees were not willing to participate in the survey.

The study is related with employees of Hykon in Thrissur Dist only, so generalization is

based upon this.

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CHAPTER 2

LITERATURE REVIEW

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1. IMPROVING EMPLOYEE RETENTION AND CREATING A

MOTIVATIONAL ENVIRONMENT

Robin birak

ABSTRACT

Employee retention is a challenge in many organizations. Demographical and market changes

have created a more confident and demanding workforce, which makes it necessary for

organizations to be competitive and work harder at meeting employees needs to retain their

loyalty. The purpose of this action research project was to identify the factors that impact

employee retention. The literature that framed this study focused on employee retention,

employee motivation, work-life balance, and organizational change and leadership. The study

was conducted using focus groups as the primary data gathering strategy, and recommendations

were made based on the themes that emerged from the data collected according to the topics

reviewed in the literature section. The managers within the sponsoring organization embraced

the opportunity for change and are committed to creating a motivational environment for

employees while working towards Implementing positive changes to improve retention.

2. HRM PRACTICES AND EMPLOYEE RETENTION IN THAILAND

Sorasak Tangthong, Jirasek Trimetsoontorn and Nutthawut Rojniruntikul

ABSTRACT

An empirical study is conducted to investigate the effects of HRM practices on employee

retention in Thailand’s FDI manufacturing industry. HRM practices that will be covered in this

research consist of compensation & benefits management and reward system, and training &

development. HR Intervening, which acts as the mediating variable, will be employee

engagement. As the dependent variable and an observed variable, is employee retention. Thus,

the conceptual model created for this study will comprise of two independent variables, one

mediating variable and one dependent variable. A total of 5 theoretically-based hypotheses are

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developed, indicating possible positive and negative relationships among the variables of the

model. Input consists of 400 top management, human resources managers/leaders and line

managers of Thailand FDI’s key industrial zone in Rayong province. The proposed model is

empirically tested by using AMOS of a Path Analysis modeling approach. It is hoped that this

study will help both academics and those managing human resource to realize, understand and

see the influence of HRM practices and employee retention.

3. KEY EMPLOYEE RETENTION STRATEGIES IN MERGERS AND

ACQUISITIONS

Thomas Dreyer

ABSTRACT

Due to the strain on federal, state, and local budgets, services to vulnerable populations,

including the mentally ill, developmentally disabled, and those who seek medical care from

nonprofit organizations, are under pressure. One response to this phenomenon among nonprofit

service providers are an increase in mergers and acquisitions. The failure rate of mergers and

acquisitions is 75%, and the primary reasons for failure are cultural incompatibility and key

employee turnover. The purpose of this study was to explore an organization’s ability to retain

key employees based on its organizational culture, compensation practices, and job titles. Semi

structured interviews yielded five themes. First, organizational culture should be evaluated as

part of the due diligence process, and the organizational culture of the newly combined

companies does play a role in key employee retention. Second, key employees are identified as

part of the due diligence process. Third, the preferred method of dealing with salary and bonus

compensation is to maintain current levels. Fourth, job titles by themselves are not considered

important for retaining key employees. Fifth, organizations may experience longer post merger

transition periods if important decisions are not made on a timely basis. Recommendations

include performing internal cultural audits prior to involvement in a merger or acquisition, using

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a structured process in performing cultural audits, maintaining compensation at current levels,

and providing clear communication about roles and responsibilities of key employees following

a merger or acquisition.

4. AN EMPLOYEE RETENTION STRATEGY DESIGNED TO INCREASE

TENURE AND PROFITABILITY IN THE FAST FOOD INDUSTRY

Michael J. Harris

ABSTRACT

The purpose of the quasi-experimental quantitative study was to investigate the effectiveness of a

strategic retention process called the Employee Extended Tenure Plan, which has five tactical

elements, has on the job tenure and retention of hourly restaurant workers. Within the retail

industry in general and the food service industry in particular, leaders have concentrated on

controlling wages as a cost cutting strategy. The result of this approach is an industry that has the

highest rates of employee turnover. The results of the study indicate that the experimental

retention strategy used had the effect of decreasing turnover rates and, in so doing, decreased

overall labor costs, resulting in opportunities to gain added profitability for the business.

5. ROLE OF HUMAN RESOURCE PRACTICES ON EMPLOYEE RETENTION IN

INSTITUTES OF HIGHER LEARNING IN DELHI

Divya Deo

ABSTRACT

Human Resources are considered the most important asset of an Organization, but only few

Organizations are able to fully harness its potential. HRM practices can

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affect employee motivation by encouraging them to work both harder and smarter. Employee

retention is one of the challenges facing many organizations, occasioned by economic process

that has intensified competition and mobility of highly skilled employees. Retention of academic

staff could be a pertinent issue in Institutions and Universities in India. Presently, the biggest

challenge faced by educational institutions in India is the acute shortage of qualified and

competent faculties (Times News Network, 2006). Retention of talents is not the choice of

employers but is also the need of time as education is already at risk running with talent crisis.

Therefore this study has made an attempt to present faculty retention as a major HR issue in

higher learning Institutions and Universities. For this study, I have identified four main HRM

practices, namely, Training and Development, Compensation System, Performance Appraisal

System and Employee Empowerment. The study is about how employees regard importance of

their empowerment, equity of compensation, job design through training and expectancy towards

effective performance management on their retention in the Organization.

6. EMPLOYEE RETENTION STRATEGIES: IT INDUSTRY

James, Leena

ABSTRACT

Employee Turnover is a major challenge faced by the companies globally. This study has

focused on IT sector. Employees are the assets of any organization and organization can not

afford losing its key performers. Organizations are striving to retain their talents by

implementing effective retention strategies. High Employee Turnover would subsequently have

an impact on productivity and sustainability of the organization. This study is an attempt to

understand the impact of Retention Strategies on Employee Turnover in IT sector in India.

Bangalore, being the IT hub of India, was chosen as the location of the study. Other variables

such as Welfare Benefits, Personal Satisfaction and Organizational Culture, which are said to be

associated with the Employee Turnover, were also investigated as a part of this study. Intention

to stay is the proxy variable which explains the employee turnover in this study. Previous

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research conducted by various scholars has shown that employee's intention to stay/leave

determines the actual turnover.

7. A STUDY OF ORGANIZATIONAL CULTURE AND ITS EFFECT ON

EMPLOYEE RETENTION

John E. Sheridan

ABSTRACT

This paper tries to identify the key factors which affect employee performance and attempts to

understand the effect of organizational culture on employee retention. In the modern

organization, employee retention is the key term which summarizes all HR efforts. Various

methods are being employed in order to ensure high employee morale and also to

asses employee expectation and match them in order to check attrition. However, for these

methods to become effective, the quality of employees and the organizational culture play a

major role. This paper explores the overall satisfaction of employee with regard to organizational

culture. It also studies the expectations of employees from organizations to understand the

changes needed in the organizational culture to improve retention rates.

8. MAHINDRA SATYAM, TECH MAHINDRA TO INTRODUCE EMPLOYEE

RETENTION PLANS

Deepika Amirapu

ABSTRACT

The Mahindra Satyam official quoted above said, "Tech Mahindra has most of its offices in

North and Western India. Since close to 50% of Satyam's hiring is from colleges and companies

27

in Delhi, NCR region and Pune, employees who have had to relocate to South India will now be

allowed to take a transfer after filling in the vacancy."

9. ORGANIZATIONAL STRATEGIES THAT INSPIRE AND IMPROVE

EMPLOYEE RETENTION AND MORALE

Royal Roads University (Canada)

ABSTRACT

This study examines the organizational strategies that promote employee morale

and retention within McMan Youth, Family and Community Services. Organizational practices

are becoming streamlined and integrated processes, with a focus on employee involvement and

strong emphasis on collaboration and shared leadership. Employees are instrumental in the

overall growth and development of our organizations and communities. This study allows

McMan leaders to discover and build on the practices that support employee retention and

morale within the organization. A literature review investigates organizational culture,

leadership, staff morale and retention. The data collected through a survey and interviews

revealed two overarching themes, financial compensation and opportunities for growth and

development. Recommendations identified were alternate compensation strategies, leadership

development and succession planning, and mentoring and coaching opportunities. The main

question explored throughout this research is: "What organizational strategies would inspire and

improve employee morale and retention within McMan Youth, Family and Community

Services?"

10. LOCKWOOD (2006)

Retention is a critical element of an organization’s more general approach to talent

management, which is defined as “the implementation of integrated strategies or

28

systems designed to increase workplace productivity by developing improved processes

for attracting, developing, retaining, and utilizing people with the required skills and

aptitude to meet current and future business needs”.

11. STAUSS (2001)

A more detailed and recent definition for the concept of retention is “ customer

linking, identification, commitment, trust, readiness, to recommend and repurchase

intensions with the first four being emotional- cognitive retention constructs and the last

two being behavioral intensions.

29

CHAPTER 3

DATA ANALYSIS

AND

INTERPRETATION

30

Table 3.1. Age group

Sl. No Age group No of

Respondents

Percentage

1 20-25 8 16

2 26-35 20 40

3 36-45 15 30

4 46-55 7 14

5 Over 55 0 0

Total 50 100

(Source: Primary data)

Chart 3.1. Age group

Interpretation

On the above chart shows age group of employees in HYKON, 16% are between 20-25 age

groups, 40% are between 26-35 age group, 30% are between 36-45 age group, 14% are between

46-55 age group.

0

5

10

15

20

25

30

35

40

45

20-25 26-35 36-45 46-55 Over 55

31

Table 3.2. Overall Industrial experience

Sl. No Experience No. of

Respondents

percentage

1 Less than 1 year 4 8

2 1-3 16 32

3 3-5 18 36

4 5-10 4 8

5 More than 10 8 16

Total 50 100


Chart 3.2. Overall industrial experience

Interpretation

On the above chart shows the overall working experience 8% of employees have been working

there for less than 1 year, 32% of employees working there between 1-3 years, 36% of

employees working there between 3-5 years, 8% employees working there between 5-10 years

and the 16% employees working there for more than 10 years.

8%

32%

36%

8%

16%

Less than 1 year 01-Mar 03-May 05-Oct More than 10

32

Table 3.3. Experience in Hykon

Sl. No Experience in

Hykon

No. of

Respondents

percentage

1 Less than 1 year 4 8

2 1-3 12 24

3 3-5 14 28

4 5-10 11 22

5 More than 10 9 18

Total 50 100


Chart 3.3. Experience in Hykon

Interpretation

On the above chart shows the working experience with Hykon, 8% of employees have been

working there for less than 1 year, 24% of employees working there between 1-3 years, 28% of

employees working there between 3-5 years, 22% employees working there between 5-10 years

and the 18 % employees working there for more than 10 years.

0

5

10

15

20

25

30

Less than 1 year

01-Mar 03-May 05-Oct More than 10

33

Table 3.4. Adoption of best method of work by Organization

Sl. No Level of

Agreeableness

No. of

Respondents

Percentage

1 Strongly Agree 12 24

2 Agree 28 56

3 Neutral 8 16

4 Disagree 2 4

5 Strongly Disagree 0 0

Total 50 100


Chart 3.4 Adoption of best method of work by Organization

Interpretation

On the above chart it shows that 24% of the employee strongly agree that organization adopts the

best method of work and 56% employees agrees to this and 16 % of employees is neutral and 4%

employees disagrees.

0

10

20

30

40

50

60

Strongly Agree Agree Neutral Disagree Strongly Disagree

34

Table 3.5. Employee growth opportunity plans for long term retention

Sl. No Level of

Agreeableness

No. of

Respondents

percentage


2 Agree 26 58

3 Neutral 18 36

4 Disagree 4 8


Total 50 100


Chart 3.5 Employee growth opportunity plans for long term retention

Interpretation

On the above chart it shows that 4% of the employee strongly agree that company have

employee growth opportunity plans for long term retention of employees and 58% employees

agrees to this and 36 % of employees is neutral and 8% employees disagrees.

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

35

Table 3.6. Importance of training for an employee to perform better

Sl. No Level of

Agreeableness

No. of

Respondents

Percentage


2 Agree 20 40

3 Neutral 6 12

4 Disagree 0 0


Total 50 100


Chart 3.6. Importance of training for an employee to perform better

Interpretation

On the above chart it shows that 48% of the employee strongly agree that the training is essential

for an employee to perform better and 40% employees agrees to this and 12 % of employees is

neutral.

0

10

20

30

40

50

60


36

Table 3.7. Periodic reinforcement and support of working system by Supervisors

Sl. No Level of

Agreeableness

No. of

Respondents

Total Marks


2 Agree 25 50

3 Neutral 16 32

4 Disagree 2 4

5 Strongly Disagree - 0

Total 50 100


Chart 3.7 Periodic reinforcement and support of working system by Supervisors

Interpretation

On the above chart it shows that 14% of the employee strongly agree that superiors periodically

reinforce and support the working condition, and 50% employees agrees to this and 32 % of

employees is neutral and 4% employees disagrees.

0

10

20

30

40

50

60


37

Table 3.8. Provision of sufficient job security to employees

Sl. No Level of

Agreeableness

No. of

Respondents

Percentage


2 Agree 24 48

3 Neutral 15 30

4 Disagree 7 14


Total 50 100


Chart 3.8. Provision of sufficient job security to employees

Interpretation

On the above chart it shows that 6% of the employee strongly agree that they have been provided

with sufficient job security and 48% employees agrees to this and 30 % of employees is neutral

and 14% employees disagrees and the rest 2% strongly disagrees.

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

38

Table 3.9. Lack of career development opportunity in the organization

Sl. No Level of

Agreeableness

No. of

Respondents

Percentage


2 Agree 14 28

3 Neutral 16 32

4 Disagree 8 16


Total 50 100


Chart 3.9. Lack of career development opportunity in the organization

Interpretation

On the above chart it shows that 2% of the employee strongly agree that they feel there is lack of

career development opportunity in the organization and 28% employees agrees to this and 32 %

of employees is neutral and 16% employees disagrees and the rest 2% strongly disagrees.

0

5

10

15

20

25

30

35


39

Table 3.10. Company provide motivation and rewards to employees

Sl. No Response No. of Respondents Percentage

1 Strongly agree 8 16

2 Agree 22 44

3 Neutral 11 22

4 Disagree 7 14

5 Strongly disagree 2 4

Total 50 100


Chart 3.10 Company provide motivation and rewards to employees

Interpretation

On the above chart it shows that 16% of the employee strongly agree that the company provide

motivation and rewards to employees and 44% employees agrees to this and 22 % of employees

is neutral and 14% employees disagrees and the rest 4% strongly disagrees.

0

5

10

15

20

25

30

35

40

45

50

Strongly agree Agree Neutral Disagree Strongly disagree

40

Table 3.11. Training programme have direct impact on your work



2 Agree 23 46

3 Neutral 3 6

4 Disagree 2 4


Total 50 100


Chart 3.11. Training programme have direct impact on your work

Interpretation

On the above chart it shows that 44% of the employee strongly agree that the training programs

have direct impact on their work, and 46% employees agrees to this and 6 % of employees is

neutral and 4% employees disagrees..

0

5

10

15

20

25

30

35

40

45

50


41

Table 3.12. Influence of job satisfaction to retain in the organization

Sl. No Level of Influence No. of Respondents Percentage

1 Very low 5 10

2 Low 8 16

3 Medium 20 40

4 High 10 10

5 Very high 7 14

Total 50 100


Chart 3.12 Influence of job satisfaction to retain in the organization

Interpretation

On the above chart it shows that 10% of the employee strongly agree that job satisfaction has

been influenced them to retain in the organization and 16% employees agrees to this and 40 % of

employees is neutral and 10% employees disagrees and the rest 14% strongly disagrees.

0

5

10

15

20

25

30

35

40

Very low Low Medium High Very high

42

Table 3.13.1 Level of satisfaction on career opportunities


1 Highly satisfied 18 36

2 Satisfied 16 32

3 Neutral 12 24

4 Dissatisfied 4 8

5 Highly dissatisfied 0 0

Total 50 100


Chart 3.13.1 Level of satisfaction on career opportunities

Interpretation

On the above chart it shows that 36% of the employee strongly agree that career opportunity as

an satisfaction and 32% employees agrees to this and 24 % of employees is neutral and 8%


0

5

10

15

20

25

30

35

40

Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

43

Table 3.13.2 Level of satisfaction on job security



2 Satisfied 20 40

3 Neutral 16 32

4 Dissatisfied 1 2


Total 50 100


Chart 3.13.2 Level of satisfaction on job security

Interpretation

On the above chart it shows that 24% of the employee strongly agree that job security as an

satisfaction and 40% employees agrees to this and 32 % of employees is neutral and 2%

employees disagrees and the rest 2% employees strongly disagrees to this.

0

5

10

15

20

25

30

35

40

45


44

Table 3.13.3 Level of satisfaction on pay and privilege



2 Satisfied 22 44

3 Neutral 18 36

4 Dissatisfied 5 10


Total 50 100


Chart 3.13.3 Level of satisfaction on pay and privilege

Interpretation

On the above chart it shows that 10% of the employee strongly agree that pay and privilege as



Highly satisfied

Satisfied

Neutral

Dissatisfied

Highly dissatisfied

45

Table 3.13.4 Level of satisfaction on relationship with superior



2 Satisfied 22 44

3 Neutral 10 20

4 Dissatisfied 1 2


Total 50 100


Chart 3.13.4 Level of satisfaction on relationship with superior

Interpretation

On the above chart it shows that 34% of the employee strongly agree that Relationship with

superior as an satisfaction and 44% employees agrees to this and 20 % of employees is neutral

and 2% employees disagrees.

0

5

10

15

20

25

30

35

40

45

50


46

Table 3.13.5 Level of satisfaction on working environment



2 Satisfied 15 30

3 Neutral 24 48

4 Dissatisfied 1 2


Total 50 100


Chart 3.13.5 Level of satisfaction on working environment

Interpretation

On the above chart it shows that 18% of the employee strongly agree that working environment

as an satisfaction and 30% employees agrees to this and 48 % of employees is neutral and 2%


0

10

20

30

40

50

60


47

Table 3.13.6 Level of satisfaction on relation with coworkers



2 Satisfied 20 40

3 Neutral 8 16

4 Dissatisfied 8 16


Total 50 100


Chart 3.13.6 Level of satisfaction on relation with coworkers

Interpretation

On the above chart it shows that 26% of the employee strongly agree that Relation with

coworkers as an satisfaction and 40% employees agrees to this and 16 % of employees is neutral

and 16% employees disagrees and the rest 2% of employees strongly disagrees to this.

0

5

10

15

20

25

30

35

40

45


48

Table 3.13.7 Level of satisfaction on job recognition



2 Satisfied 14 28

3 Neutral 18 36

4 Dissatisfied 1 2


Total 50 100


Chart 3.13.7 Level of satisfaction on job recognition

Interpretation

On the above chart it shows that 32% of the employee strongly agree that Job recognition as an

satisfaction and 28% employees agrees to this and 36 % of employees is neutral and 2%

employees disagrees and the rest 2% of employees strongly disagrees to this.

0

5

10

15

20

25

30

35

40


49

Table 3.13.8 Level of satisfaction on monetary benefits



2 Satisfied 23 46

3 Neutral 5 10

4 Dissatisfied 3 6


Total 50 100


Chart 3.13.8 Level of satisfaction on monetary benefits

Interpretation

On the above chart it shows that 38% of the employee strongly agree that Monetary benefits as



0

5

10

15

20

25

30

35

40

45

50


50

Table 3.13.9 Level of satisfaction on grievance handling



2 Satisfied 20 40

3 Neutral 12 24

4 Dissatisfied 5 10


Total 50 100


Chart 3.13.9 Level of satisfaction on grievance handling

Interpretation

On the above chart it shows that 24% of the employee strongly agrees that Grievance handling as

a satisfaction and 40% employees agrees to this and 24 % of employees are neutral and 10%

employees disagree.

0

5

10

15

20

25

30

35

40

Highly satisfied

Satisfied Neutral Dissatisfied Highly dissatisfied

51

Table 3.14. Availability of good working condition for long term employee retention



2 Agree 25 50

3 Neutral 12 24

4 Disagree 2 4


Total 50 100


Chart 3.14 Availability of good working condition for long term employee retention

Interpretation

On the above chart it shows that 20% of the employee strongly agrees that the company provide

good working condition for the long term retention of the employees and 50% employees agrees

to this and 24% of employees is neutral and 4% employees disagrees and the rest 2% of

employees strongly disagrees to this.

0

10

20

30

40

50

60

Strongly agree

Agree Neutral Disagree Strongly disagree

Axi

s Ti

tle

Percentage

Percentage

52

Table 3.15. Opportunities to share ideas at work


1 Certainly 19 38

2 Sometimes 20 40

3 Not at all 11 22

Total 50 100


Chart 3.15 Opportunities to share ideas at work

Interpretation

On the above chart it shows that 38% of the employees agree that certainly they have the

opportunity to share your ideas at work and 40% employees agrees sometimes and 22 % of

employees agree not at all.

Certainly

Sometimes

Not at all

53

Table 3.16. Rating of infrastructure and equipment provided


1 Very good 12 24

2 Good 22 44

3 Average 16 32

4 Bad 0 0

5 Very Bad 0 0

Total 50 100


Chart 3.16 Rating of infrastructure and equipment provided

Interpretation

On the above chart it shows that 24% of the employees rated the infrastructure and equipment

provided by the company as very good and 44% of the employees rated as good, 32% employees

rated as average.

0

5

10

15

20

25

30

35

40

45

50

Very good Good Average Bad Very Bad

54

Table 3.17. Opinion regarding the rewards that should be received for good work

Sl. No Response No. of

Respondents

Percentage

1 Appreciation 10 20

2 Promotion 22 44

3 Incentives 6 12

4 Bonus 8 16

5 Allowances 4 8

Total 50 100


Chart 3.17 Opinion regarding the rewards that should be received for good work

Interpretation

On the above chart it shows the type of reward that have been given to employees for their good

work 20% of employees marked as appreciation, 44% marked as promotion 2% marked as

incentives, 16%marked as bonus and 8% marked as allowances.

0

5

10

15

20

25

30

35

40

45

50

Appreciation Promotion Incentives Bonus Allowances

55

Table 3.18.1 Influence of job satisfaction as an intention to stay


1 Very high 14 28

2 High 20 40

3 Average 13 26

4 Low 3 6

5 Very low 0 0

Total 50 100


Chart 3.18.1 Influence of job satisfaction as an intention to stay

Interpretation

On the above chart it shows that job satisfaction as an factor of your intention to stay in this the

employees have been rated as 28% as very high, 40% as high, 26% as average, 6% as low.

0

5

10

15

20

25

30

35

40

45

Very high High Average Low Very low

56

Table 3.18.2 Influence of monetary benefits as an intention to stay


1 Very high 6 12

2 High 14 28

3 Average 20 40

4 Low 10 20

5 Very low 0 0

Total 50 100


Chart 3.18.2 Influence of monetary benefits as an intention to stay

Interpretation

On the above chart it shows that Monetary benefits as an factor of your intention to stay in this

the employees have been rated as 12% as very high, 28% as high, 40% as average, 20% as low.

0

5

10

15

20

25

30

35

40

45


57

Table 3.18.3 Influence of working environment as an intention to stay


1 Very high 11 22

2 High 8 16

3 Average 27 54

4 Low 4 8

5 Very low 0 0

Total 50 100


Chart 3.18.3 Influence of working environment as an intention to stay

Interpretation

On the above chart it shows that working environment as an factor of your intention to stay in

this the employees have been rated as 22% as very high, 16% as high, 54% as average, 8% as

low.

0

10

20

30

40

50

60


58

Table 3.18.4 Influence of career development as an intention to stay


1 Very high 4 8

2 High 16 32

3 Average 16 32

4 Low 12 24

5 Very low 2 4

Total 50 100


Chart 3.18.4 Influence of career development as an intention to stay

Interpretation

On the above chart it shows that career development as an factor of your intention to stay in this

the employees have been rated as 8% as very high, 32% as high, 32% as average, 24% as low

and 4% as very low.

0

5

10

15

20

25

30

35


59

Table 3.18.5 Influence of relationship with superiors as an intention to stay


1 Very high 18 36

2 High 23 46

3 Average 15 30

4 Low 4 8

5 Very low 0 0

Total 50 100


Chart 3.18.5 Influence of relationship with superiors as an intention to stay

Interpretation

On the above chart it shows that relation with superiors as an factor of your intention to stay in

this the employees have been rated as 36% as very high, 46% as high, 30% as average, 8% as

low.

0

5

10

15

20

25

30

35

40

45

50


60

Table 3.18.6 Influence of relationship with coworkers as an intention to stay


1 Very high 22 44

2 High 24 48

3 Average 4 8

4 Low 0 0

5 Very low 0 0

Total 50 100


Chart 3.18.6 Influence of relationship with coworkers as an intention to stay

Interpretation

On the above chart it shows that relation with coworkers as an factor of your intention to stay in

this the employees have been rated as 44% as very high, 48% as high, 8% as average.

0

10

20

30

40

50

60


61

Table 3.18.7 Influence of job security as an intention to stay


1 Very high 10 20

2 High 7 14

3 Average 13 26

4 Low 18 36

5 Very low 2 4

Total 50 100


Chart 3.18.7 Influence of job security as an intention to stay

Interpretation

On the above chart it shows that job security as an factor of your intention to stay in this the

employees have been rated as 20% as very high, 14% as high, 26% as average, 36% as low and

4% as very low.

Very high

High

Average

Low

Very low

62

Table 3.18.8 Influence of training programme as an intention to stay


1 Very high 15 30

2 High 21 42

3 Average 10 20

4 Low 3 6

5 Very low 1 2

Total 50 100


Chart 3.18.8 Influence of training programs as an intention to stay

Interpretation

On the above chart it shows that Training programme as an factor of your intention to stay in this

the employees have been rated as 30% as very high, 42% as high, 20% as average, 6% as low

and 2% as very low.

0

5

10

15

20

25

30

35

40

45


63

Table 3.18.9 Influence of motivation as an intention to stay


1 Very high 20 40

2 High 18 36

3 Average 8 16

4 Low 4 8

5 Very low 0 0

Total 50 100


Chart 3.18.9 Influence of motivation as an intention to stay

Interpretation

On the above chart it shows that Motivation as a factor of your intention to stay in this the


0

5

10

15

20

25

30

35

40

45


64

Table 3.18.10 Influence of appreciation as an intention to stay


1 Very high 14 28

2 High 26 52

3 Average 9 18

4 Low 1 2

5 Very low 0 0

Total 50 100


Chart 3.18.10 Influence of appreciation as an intention to stay

Interpretation

On the above chart it shows that Appreciation as a factor of your intention to stay in this the


0

10

20

30

40

50

60


65

Table 3.19. Shifting from the present job if a better one comes



2 Agree 4 8

3 Neutral 20 40

4 Disagree 18 36


Total 50 100


Chart 19 Shifting from the present job if a better one comes

Interpretation

On the above chart it shows that 20% of the employee strongly agrees that they will be shifting

from the present job if a better offer comes and 50% employees agrees to this and 24% of

employees is neutral and 4% employees disagrees and the rest 2% of employees strongly

disagrees to this.

0

5

10

15

20

25

30

35

40

45


66

Table 3.20. Reasons for leaving


1 Job dissatisfaction 4 8

2 Poor benefits 13 26

3 Lack of career

development

8 16

4 Stressful environment 3 6

5 Superiors rude behavior 1 2

6 Transportation 8 8

7 Feeling undervalued 4 8

8 Feedback lacking 5 10

9 Organizational

instability

4 8

Total 50 100


Chart 20. Reasons for leaving

Interpretation

On this above chart it shows the ranks for leaving organization 8% employees ranked as because

of job dissatisfaction they will be leaving, 32% employees ranked because of poor benefits, 32%

employees ranked growth opportunity not available as a reason, 24% employees

0

5

10

15

20

25

30

1 2 3 4 5 6 7 8 9 10 11

No. of Respondents

Percentage

67

CHAPTER 4

FINDINGS, SUGGESTIONS AND

CONCLUSION

68

4.1 Findings

26% of the employees responded that they will leave the organization because of the poor

benefits. And 16 % of the employees responded transportation and lack of career

opportunity as the reasons for leaving.

Majority of the respondents (56%) had agreed that organization adopted best method of

work.

Majority of the respondents (52%) had agreed that company have employee growth

opportunity for the long term retention of employees.

Among 50 respondents, 48% of them strongly agreed that training is essential for an

employee to perform better.

Majority of the respondents (50%) agreed that their supervisors periodically support and

reinforce the working system.

48% of the respondents had agreed that company provided them with sufficient job

security.

Majority of the respondents (32%) are neutral about the statement that there is a lack of

career development opportunity in the organization.

Majority of the respondents (44%) are agreed that the company provides motivation and

rewards.

In this 46% of respondents agrees that the training programme have direct impact on their

work and 44% strongly agrees to this statement.

Majority of the respondents (40%) have been highly influenced by the job satisfaction.

Opinion on the level of satisfaction on various job related factors

• Pay and privilege (44%)

• Relation with superior (44%)

69

• Relation with coworkers (40%)

• Monetary benefits (46%)

• Grievance handling (40%)

50% of the employees agree that the company provides good working condition for the

long term retention of the employees.

40% of the employees responded neutrally that they have the opportunity to share ideas at

work.

44% of the respondents responded that the infrastructure and equipment provided for

work is good.

44% of the employees responded that the promotion should be the type of reward that

employees should receive for good work.

The key factors that makes employees intent to stay with Hykon are

• Appreciation (52 %)

• Relation with coworkers (48%)

• Relation with superiors (46%)

• Training programme (42%)

• Job satisfaction (40%)

40% of the respondents neutrally responded they will be shifting from the present job

when the better offer comes.

70

4.2 Suggestions

• It is found that “Poor benefits” would be the main reason for the employee to leave an

organization, so the company should implement necessary benefits, promotion,

insurance, maternity leave and annual tour in the organization. This will make them to

stay within the organization.

• The company can implement necessary strategies to improve the job satisfaction of the

employees as there is a significant relationship between job satisfaction and employee

retention.

• Improve the career development opportunity for the internal staff by providing internal

promotion, staff training so that they feel the job is more challenging and excited.

• Company can introduce recognition strategies such as best employee award to enhance

appreciation.

• Company should implement more training programmes as it is important for an employee

to perform better and also it has an impact on the work.

• Company can adopt certain team building strategies for similar working group, to

improve relationship with coworkers.

• It is the found that most employees didn’t get much opportunities to share their ideas at

work, so the Company can provide sufficient opportunities to the employees to share

their ideas at work.

71

4.3 Conclusion

Retention of employees is critical to the long term health and success of any organization. The

company in India has face enormous challenge in reducing attrition rate. Now a day’s most

managers understand the importance of the employee retention and its impact on the overall

health and vitality of an organization. The employees were rewarded by the way of providing

incentives. The company can focus more on reward system and career planning and can improve

the monetary benefits to the employees to do their work effectively and make them to retain in

the organization.

From the study, it concludes that the company has a bright future and it has found that the

performance of the company has been good. The only thing the company is to take care is about

employee turnover, which has been increasing with coming of new companies in the market. So

retaining of the employee has become a need for the company as it causes high amount of brain

drain as well as cost to get the employees of the same caliber.

Retaining of new employees starts from the very beginning that is recruitment of an employee to

the organization. The aspect is to see that employee recruited for the particular position is having

sufficient knowledge to carry out the work. Secondly, the job description and the job

specification should match the requirement and should be clear to the employee recruited.

Proper induction should be given to familiarize employees with the situation existing in the

organization. Employee should be made clear about their career path, to make them aware of

advancement opportunity in the organization. A proper check through regular meetings and

counseling should be done to find if there exists any problem with the employee so that solution

could be made at the initial stage itself.

Proper benchmarking with regard to salary, benefits, work environment and such other, has to be

done so that regular improvement can be done in the organization to keep the organization in the

competition.

72

APPENDICES

73

QUESTIONNAIRE

Sir/Madam

I am Aswathy M, student of Farook Institute of Management Studies, Calicut.

I am conducting “A study on EMPLOYEE RETENTION WITH REFERENCE TO HYKON

INDIA PVT LTD, THRISSUR”. I would be highly grateful to you if you would provide your

genuine response to the questions below.

Personal Details

Name :

Age group :

a) 20-25 b) 26-35 c) 36-45

d) 46-55 e) Over 55

Overall industrial experience :

a) Less than 1 year b)1- 3 years c)3- 5 years

d) 5-10 years e) More than 10 years

Experience in Hykon :

a) Less than 1 year b) 1- 3 years c)3- 5 years

d) 5-10 years e) More than 10 years

Marital status :

a) Married b)Unmarried

Gender :

a) Male b)Female

Please Rate the following statements by putting a tick mark according to your opinion

1. Do you agree that the organization adopts the best method of work?

Strongly agree Agree Neutral

Disagree Strongly disagree

74

2. Do you agree that company have employee growth opportunity plans for the long term

retention of employees?



3. Do you agree that the training is essential for an employee to perform better?



4. Do you agree that the supervisors periodically reinforce and support the working system?



5. Do you agree that you have been provided with sufficient job security?



6. Do you feel that there is lack of career development opportunity in the organization?



7. Does the company provide motivation and rewards to employees?



8. Do you agree that the training programme have direct impact on your work?



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9. How far job satisfaction influences you to retain in this organization?

Very low Low Medium

High Very high

10. Mark your opinion on the level of satisfaction on various job related factors.

Factors Highly

satisfied

Satisfied Neutral Dissatisfied Highly

Dissatisfied

Career

opportunity

Job Security

Pay and

Privilege

Relation with

Superior

Working

Environment

Relation with

coworkers

Job

Recognition

Monetary

Benefits

Grievance

handling

11. Do you agree that the company provide good working condition for the long term

retention of employees?



12. Do you have an opportunity to share your ideas at work?

Certainly Sometimes Not at all

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13. How would you rate the infrastructure and equipment provided for your work?

Very Good Good Average

Bad Very Bad

14. What would be type of reward that should be received for the good work?

Appreciation Promotion

Incentives Bonus

Allowances

15. Rate the influence of various factors on your intention to stay with Hykon.

Factors Very High High Average Low Very Low

Job satisfaction

Monetary Benefits

Working Environment

Career development

Relationship with superiors

Relationship with

coworkers

Job security

Training Programme

Motivation

Appreciation

16. Will you be shifting from the present job if a better offer comes?



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17. If you want to leave the organization, what would be the reason?

Please rank the following factors in order of importance from 1 to 5 where 1 is most

important and 5 is least important to you

Factors Rank

Job dissatisfaction

Poor Benefits

Lack of Career

development

Stressful

environment

Superiors rude

behavior

Transportation

Feeling

Undervalued

Feedback lacking

Organizational

instability

Suggestion if any (to improve the retention policy) : __________________________________

______________________________________________________________________________

_____________________________________________________________________________ .

Thanks for your response Signature of respondent

Date: -

78

BIBLIOGRAPHY

79

Books

C.R. Kothari (2007) Research methodology, New age international publishers, New

Delhi

L.M. Prasad (2004) Organizational Behavior Sulthan Chand & Sons, educational

publishers Chennai

Stephen Robbins (2001) Organizational Behavior, Prentice Hall Publications Upper

Saddle River, NJ, 2003

M.C.Shukla (1986) Business Organization & Management, Sulthan chand publication

New Delhi.

Phillips J J (2003) Managing Employee Retention: A Strategic Accountability Approach

Butterworth-Heinemann

Websites

http://www.guides.wsj.com

http://www.hykonindia.com

http://search.proquest.com/business/results

http://www.guides.wsj.com/

http://www.hykonindia.com/

http://search.proquest.com/business/results

employee retention project in hykon india pvt ltd thrissur

Recruiting & HR