Post on 06-Apr-2018
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A
Summer Training Report
Employee retention strategies
of
NRV PIPES PRIVATE LIMITED
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS OF THE
THREE YEAR FULL TIME BECHELORS OF BUSINESS ADMINSTRATION
PUNJAB TECHNICAL UNIVERSITY, JALANDHAR
SESSION (2009-12)
Submitted To: Submitted By:
Ms.Ramanpreet Kaur Manoj Kumar
Asst.professor BBA 5th sem
C.T.I.M.I.T R.no: 94372450675
PUNJAB TECHNICAL UNIVERSITY
JALANDHAR
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CERTIFICATE
This is to certify that the project report entitled EMPLOYEE REETENTION IN
NRV LIMITED submitted by Manoj Kumar is a bonafide piece of workconducted under my supervision and guidance. No part of this work has been
submitted for any other degree of any other university. The data sources have been
duly acknowledged. It may be considered for evaluation in partial fulfillment of the
requirement for the award of degree of Bachelors of Business Administration.
PROJECT GUIDE
Ms.Ramanpreet Kaur
Asst. Professor
C.T.I.M.I.T
PREFACE
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BBA is stepping stone to management career. In order to develop a healthy
management and administration skill among potential managers, someone has
rightly said that partial training is far better than the classroom training. To achievepartial and concrete results, it is necessary that theoretical knowledge must be
supplemented with an exposure of the real business environment. A professional
course like Bachelors of Business Administration demands in depth theoretical
knowledge and Practical exposure for its application.
The course aims to groom the student professionally and offer them a chance to
work in the real environment of the corporate world, to have an opportunity to gain
experience on practical aspects and supplement their theoretical knowledge.
The BBA participant makes a humble presentation of this report to all thosepersons who may have professional and academic interest in this topic.
My project title is Employee Retention and in NRV LTD In India which
comprises of companys profile, corporate mission, Recruitment policy of the
company, objective etc.
ACKNOWLEDGMENT
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I would like express my gratitude to Mr. Nitin sethi , Senior Manager from the
bottom of my heart, without his help it would have been a dream only to carry out
the project work.
I feel deeply in debited towards people who have guided me in this project. It
would have not have been possible to make such an extensive report without the
help, guidance and inputs from them.
I would firstly like to express my gratitude towards my guide Ms. Ramanpreet
Kaur for having shown so much of flexibility & guiding in such a way that I was
really learning the subject all the time. She helped me in deciding the project topic.
She showed a lot of openness in her approach and I would like to thank her for her
support in a way that has lead to proper and effective learning
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DECLARATION
This is to certify that I, Manoj Kumar, a student of B.B.A. V TH Sem. (Roll
No.94372450675) have carried out a project entitled Employee Retention in NRV
Limited under the supervision of Mr.Nitin sethi, Sr. Manager). This is an original
work carried out by me and the report has not been submitted to any other
university for the award of any degree or diploma.
Manoj Kumar
BBA 5th sem
Roll no: 94372450675
INDEX
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Sr.
no.
Chapter Page no.
1. Introduction
2. Company profile
3. Objective of research
4. Research methodology
5. Data analysis & interpretation
6. Findings
7. Conclusion
8. Suggestions
9. Limitation
10. Annexure & Bibliography
INTRODUCTION TO NRV
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NRV Mfg. Co. is one of the leading manufacturers and exporters ofMalleable
Galvanized Iron Pipe Fittings,Scaffolding, etc. made under the brand name of
'NRV'. Our reach at global level has given us an exposure to various walk of
experiences in the aforesaid field which provided momentum to our pace in
manufacturing and exporting business. Our exclusive range of products includes
Elbow, Tee, Cross, Reducing Tee, Union, Socket, Reducing Socket, Cap Plug,
Check Nut, etc. Approximately 50% of our products are exported to many nations
across the globe. It's been a decade since our establishment in the market and
further expansion of the company is an ongoing process.
We have kept our price slab all time reasonable and delivery record exceptionally
fantastic. Also the quality of product is kept intact so that our clients are fully
satisfied. the company is affiliated to the Engineering Export Promotion Council
(EEPC). The company has recognition of being associated with ISO and
U.K.A.S. certification for our quality products.
HISTORY
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NRV Mfg. Co . is one of the leading manufacturers and exporters ofMalleable
Galvanized Iron Pipe Fittings,Scaffolding, etc. made under the brand name of
'NRV'. Our reach at global level has given us an exposure to various walk of
experiences in the aforesaid field which provided momentum to our pace in
manufacturing and exporting business
NRV Mfg. Co. was founded in the year 1998 at Jalandhar in Punjab with its
infrastructural setup in tandem with the latest technology. All the machines and
ancillary tools are technologically approved for smooth operations. The workforce
comprises of about 450 people including the management. The production type is
that of semi-automatic one and there are 3 manufacturing unit with us. Overall, we
represent a synchronized system in which each and every factor of production is
interrelated and works in kind coordination to achieve a common goal of complete
customer satisfaction
The company is accredited with an ISO certificate for standard quality
maintenance and for serving in accordance with the demand of the customers.
NRV Mfg. Co. has developed its own quality checking measures and has been
substantially successful in hiring expert quality personnel.
Another area where the company remains vigilant always is raw material
procurement and it is a mandatory process in our concern to obtain raw materials
like pig iron, steel, furnace oil, etc. from reliable sources only. Technology
application adds to our quality and makes us competent in the market.
COMPANY PROFI LE
Product Performa
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NRV Mfg. Co. provides pipes and scaffolding in different shapes and sizes. Our
products offer crisp solution to all type of pipe fittings and scaffolding. As a
trademark manufacturer and exporter, we offer the following
Range of products:
Pipe Fitting
Elbow
3 Way Elbow
Reducing Elbow
Tee
Cross
Reducing Tee
Union Socket
Reducing Socket
Bend
Tank Nipple
Check Nut
Plug/Cap Plug
Nipple
Application of Products:-
Our products find wide application in many industrial arenas including:
Building Construction
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Agriculture
Industries
Oil Refineries
Steel Plants
Shipyards
Thermal Plants
City and Village Water Supply Schemes.
Quality Analysis
The company is accredited with an ISO certificate for standard quality
maintenance and for serving in accordance with the demand of the customers.
NRV Mfg. Co. has developed its own quality checking measures and has been
substantially successful in hiring expert quality personnel. Another area where the
company remains vigilant always is raw material procurement and it is a
mandatory process in our concern to obtain raw materials like pig iron, steel,
furnace oil, etc. from reliable sources only. Technology application adds to our
quality and makes us competent in the market.
Salient Features
Following are the specialized features of the products of NRV Mfg. Co.:
Higher Malleability
Superior Galvanizing
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Chamfering
Threading
Infrastructure Redefined
NRV Mfg. Co. was founded in the year 1998 at Jalandhar in Punjab with its
infrastructural setup in tandem with the latest technology. All the machines and
ancillary tools are technologically approved for smooth operations. The workforce
comprises of about 450 people including the management. The production type is
that of semi-automatic one and there are 3 manufacturing unit with us. Overall, we
represent a synchronized system in which each and every factor of production is
interrelated and works in kind coordination to achieve a common goal of complete
customer satisfaction.
Retention Management: -
Retention management is a highly topical subject and an important dilemma many
organizations might face in the future, if not facing it already. We believe that theleader plays a key role in employee retention and retention management. The
concept of retention management can both have a narrow, and a broader
significance. Following key questions are intended to be answered: What are the
consequences between leaders actions and employees retention? Which is the
leaders role when it comes to retaining employees? Purpose statement: The
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purpose of the thesis is to investigate and analyze how company leaders today can
retain their key employees. How can the provision of key human resources develop
a long-term relationship that makes top employees stay in the company? The study
aims to establish the procedure leaders apply to retainemployees. The purpose is to
compare the qualitative study, made at the casecompany, with findings from thethesis theoretical framework. Research method: The study is a qualitative, as well
as a theoretical study where empirical findings and theories has been compared.
The intention of investigating and using the Finnish company NRV Limited as a
case company, is to make the information from the theories more valid, and also
the interest in how retention management works in practice. Eleven qualitative
interviews were conducted at Tradeka?s financial department, both with
supervisors and employees to get a broader view at the phenomenon retention
management. Result: Leaders and their skill in creating a culture of retention, has
becoming a key in why people stay and what usually drives them away from a
company. The leader has become the main factor in what motivates peoples
decision to stay or leave. For organizations to keep its key employees their number
one priority should be to look at their management, because people leave managers
and not companies. Characteristics in a leader that are of importance, as the leader
plays a key role in retention management is: trust builder, esteem builder,
communicator, talent developer and coach, and talent finder. The leaders relation
to the employees plays a central role in retaining
employees.
Employee Retention Strategies
Wedding gifts
Anniversary gifts
New born baby gifts The basic practices which should be kept in mind in theemployee retention strategies are:
1. Hire the right people in the first place.
2. Empower the employees: Give the employees the authority to get things done.
3. Make employees realize that they are the most valuable asset of the
organization.
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4. Have faith in them, trust and respect them
5. Provide them information and knowledge.
6. Keep providing them feedback on their performance.
7. Recognize and appreciate their achievements.
8. Keep their morale high.
9.Create an environment where the employees want to work and have fun. These
practices can be categorized in 3 levels: Low, medium and high level. Low Level
Employee Retention Strategies Appreciating and recognizing a well done job,
Personalized well done and thank-you cards from supervisors, Congratulations e-
cards or cards sent to spouses/families, Voicemails or mess-ages from top
management
Periodic days off for good performance, Rewards ( gift, certificates, monetary and
non monetary rewards), Recognizing professional as well as personal significantevents.
Scholarships for employees children
Get well cards/flowers
Birthday cards, celebrations and gifts
Providing benefits.
Home insurance plans
Legal insurance
Travel insurance Disability programs
Providing perks: It includes coupons, discounts, rebates, etc.
Providing workplace conveniences.
On-site ATM
On-site facilities for which cost is paid by employees
Shipping services
Assistance with tax calculations and submission of forms
Financial planning assistance
Casual dress policies Facilities for expectant mothers
Parking
Parenting guide
Lactation rooms
Flexi timings
Fun at work.
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Organize picnics and trips for movies etc
Sports outings like cricket match etc
Indoor games
Occasional stress relievers.
Casual dress day
Green is the color day.
Personal loans for emergencies
Childcare and eldercare services
Employee Assistance Programs ( Counseling sessions etc)
Emergency childcare services
Opportunities.
Professional skills development
Individualized career guidance
High Level Strategies:-
Promoting Work/Life Effectiveness.
Develop flexible schedules.
Part-time schedules.
Extended leaves of absence.
Develop Support Services.
On-site day care facility etc.
Understand employee needs: This can be done through proper management
style and culture.
Listen to the employee and show interest in ideas.
Appreciate new ideas and reward risk-taking.
Show support for individual initiative.
Encourage creativity.
Encouraging professional training and development and/or personal growth
opportunities: It can be done through.
Mentoring programs:-
Performance feedback programs
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Provide necessary tools to the employees to achieve their professional
and personal goals
Getting the most out of employee interests and talents
Higher study opportunities for employees
Vocational counseling Offer personalized career guidance to employees
Provide an environment of trust: Communication is the most important and
effective way to develop trust.
Suggestion committees can be created
Open door communication policy can be followed
Regular feedbacks on organizations goals and activities should be taken
from the employees by:
Management communications:
Intranet and internet can be used as they provide 24X7 access to the
information Newsletters, notice boards, etc.
Hire the right people from the beginning: employee retention is not a process
that begins at the end.
The process of retention begins right from the start of the
recruitment process:-
The new joiners should fit with the organizations culture.
The personality, leadership characteristics of the candidate should be in sync
with the culture of the hiring organization.
Referral bonus should be given to the employees for successful hires. Theyare the best source of networking.
Proper training should be given to the managers on interview and
management techniques.
An internship program can be followed to recruit the fresh graduates.
Retention Success Mantra
Transparent Work Culture
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In todays fast paced business environments where employees are constantly
striving to achieve business goals under time restrictions; open minded and
transparent work culture plays a vital role in employee retention. Companies invest
very many hours and monies in training and educating employees. These
companies are severely affected when employees check out, especially in themiddle of some big company project or venture. Although employees most often
prefer to stay with the same company and use their time and experience for
personal growth and development, they leave mainly because of work related
stress and dissatisfactions. More and more companies have now realized the
importance of a healthy work culture and have a gamut of people management
good practices for employees to have that ideal fresh work-life. Closed doors work
culture can serve as a deterrent to communication and trust within employees
which are potential causes for work- Related apathy and frenzy.A transparent work
environment can serve as one of the primary triggers to facilitate accountability,
trust, communication, responsibility, pride and so on. It is
believed that in a transparent work culture employees rigorously communicate
with their peers and exchange ideas and thoughts before they are finally matured in
to full-blown concepts.
QUALITY OF WORK
The success of any organization depends on how it attracts, recruits, motivates, and
retains its workforce. Organizations need to be more flexible so that they develop
their talented workforce and gain their commitment. Thus, organizations are
required to retain employees by addressing their work life issues. The elements that
are relevant to an individuals quality of work life include the task, the physical
work
environment, social environment within the organization, administrative system
and relationship between life on and off the job.
The basic objectives of a QWL program are improved working conditions for the
Employee and increase organizational effectiveness.
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Providing quality work life involves taking care of the following aspects:
Occupational health care:
The safe work environment provides the basis for the person to enjoy
working. The work should not pose a health hazard for the person. The
employer and employee, aware of their risks and rights, could
achieve a lot in Their mutually beneficial dialogue.
Suitable working time:
Organizations are offering flexible work options to their employees
wherein employees enjoy flexi-timings for dedicating their efforts atwork.
Appropriate salary:
The appropriate as well as attractive salary has always been an
important factor in retaining employees. Providing employees salary
at par with the other counterparts of above that what competitors are
paying motivates them to stick With the company for long. QWL
consists of opportunities for activeinvolvement in group working arrangements or problem solving that
are of mutual benefit to employees or employers, based on labor
management cooperation.
People also conceive of QWL as a set of methods
autonomous work groups,
job enrichment,
high-involvement aimed at boosting the satisfaction and
productivity of workers. It requires employee commitment to the
organization and an environment in which this commitment can flourish.
Providing quality at work not only reduces attrition but also helps in reduced
absenteeism and improved job satisfaction. Not only does QWL contribute
to a company's ability to recruit quality people, but also it enhances a
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company's competitiveness. Common beliefs support the contention that
QWL will positively nurture amore flexible, loyal, and motivated
workforce, which are essential in determining the company's
competitiveness.
Supporting Employees
Organizations these days want to protect their biggest and most valuable asset and
they want to do this in a way that best suits their organizational culture. Retaining
employees is a difficult task. Providing support to the employees acts as a mantra
for retraining them. Employers can also support their employees by creating an
environment of trust and inculcating the organizational values into employees.
The management can support employees directly or indirectly. Directly, they
provide support in terms of personal crises, managing stress and personal
development.
Management can support employees, indirectly, in a number of ways
as follows:
Manage employee turnover: Employee turnover affects the whole
organization in terms of productivity. Managing the turnover, hence,
becomes an important task. A proactive approach can be adopted to reduce
attrition. Strategies should be framed in advance and implemented when thetimes arrives. Turnover costs should also be taken into consideration while
framing these strategies.
Become employer of choice: What makes a company an employer of
choice? Is thebenefit it offers or the compensation packages it gives away to
its employees? Or is it measured in terms of how they value their employees
or in terms of customer
satisfaction? Becoming an employer of choice involves following a road
map which tells where to go as a brand.
Engage the new recruits: The newly hired employees are said to be least
engaged in the organization. Keeping them engaged is an important task.The fresh talent should be utilized to maximum before they start feeling
bored in the organization.
Optimize employee engagement: An organizations productivity is
measured not in terms of employee satisfaction but by employee
engagement. Employees are said to be engaged when they show a positive
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attitude toward the organization and express a commitment to remain with
the organization. Employee satisfaction also comes with high engagement
levels. So, organizations should aim to maximize the Engagement among
employees.
Coaching and mentoring: Employees whose work performance suffers due
to poor interpersonal relationships or because of lack of interpersonal skills
should be provided proper coaching by their superiors. Planed coaching
sessions help an individual to work through issues, maximize his potential
and return to peak
performance.
Feedback :-Feedback acts as a channel of communication between the
employee and his manager. The amount of information employees receive
About how well or how poorly they have performed is what we call
feedback. It is a dialog between a manager and an employee which acts as a
way of sharing information about the performance. It suggests where the
employee performance is effective and where performance has to improve.
Managers can provide either positive feedback or negative feedback to
employees. This feedback helps the employee assess his performance and
identify the improvement areas. Positive feedback communicates managerial
satisfaction. Positive recognition for good performance boosts up morale of
employees and results in performance improvement to a higher productivitylevel. It is believed that positive feedback is the only type of feedback that
generates performance above the minimum acceptable level. Negative
feedback obviously communicates managers dissatisfaction. However,
negative feedback sometimes make employee to put more efforts to improve
his performance. But such times are very rare. Moreover this improvement is
short term. Some managers do not provide any kind of feedback to their
employees. Due to no feedback, employees may assume that they are
performing productively or they may feel that the manager is satisfied with
their performance. Studies reveal the performance tends be same or even
decreases if no feedback is provided. Thus, feedback is necessary because: It
builds trust and enhances communication between manager and employee.
It gives managers and employees a way to identify and discuss skills and
strengths. Positive feedback leads to employee retention and Retention. It
helps in identifying performance areas that need improvement and specific
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ways to improve them. It acts as an opportunity to enhance performance by
identifying resources for skill development.
Communication between Employee and Employer
Communication is a process in which a message is conveyed to the receiver by the
sender. The message may be or may not be in a common format or language that
both the sender and receiver understand. So there is a need to encode and decode
the message in the process. Encoding and decoding also helps in the security of the
Message. The process of communication is incomplete without the feedback.
Communication is the solution to almost everything in this world. Same applies toemployee retention also. Straight-from-the-shoulder communication is what the
employees need from their employers. Employees look for organizations where
communication and process are transparent. Nothing is hidden and shared with the
employees.
There are 3 categories of employees:
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A: Who will leave their current employer in 3 years of their employment
B: Who have a probability of leaving their current employer in next 3 years
C: Who will stay with their current employer in the next 3 years
Category A: These are the employees who lack communication with their
employers.
Category C: These are the employees who have proper, well structured
communication with their employers. Communication is also the way to win the
employees trust in the organization. Employees trust the employers who are
friendly and open to them. This trust leads to employee loyalty and finally
retention. Employers also feel that the immediate supervisors are the most
authenticated and trusted source of information for them.
the organizations should hire managers:-who are active
communicators. Communication mediums
Open door policy: Organizations should support open door policies
so that the employees feel comfortable and are able to express their
doubts and feeling to their employers. Frequent meetings and Social
gatherings
Importance Of Employee Retention:-
The process of employee retention will benefit an organization in the following:-
ways:1. The Cost of Turnover: The cost of employee turnover adds hundreds ofthousands of money to a company's expenses. While it is difficult to fully calculate
the cost of turnover (including hiring costs, training costs and productivity loss),
industry experts often quote 25% of the average employee salary as a conservative
estimate.
Loss of Company Knowledge: When an employee leaves, he takes with him
valuable
Knowledge about the company, customers, current projects and past history
(sometimes to competitors). Often much time and money has been spent on the
employee in expectation of a future return. When the employee leaves, the
investment is not realized.
Interruption of Customer Service: Customers and clients do business with a
company in part because of the people. Relationships are developed that encourage
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continued sponsorship of the business. When an employee leaves, the relationships
that employee built for the company are severed, which could lead to potential.
Customer loss. Turnover leads to more turnovers: When an employee terminates,
the effect is felt throughout the organization. Co-workers are often required to pick
up the slack. The unspoken negativity often intensifies for the remaining staff.
Goodwill of the company: The goodwill of a company is maintained when the
attrition rates are low. Higher retention rates motivate potential employees to join
the organization.
Regaining efficiency: If an employee resigns, then good amount of time is lost in
hiring a new employee and then training him/her and this goes to the loss of the
company directly which many a times goes unnoticed. And even after this youcannot assure us of the same efficiency from the new employee
OBJECTIVES OF THE RESEARCH
The primary objective of the research was to know The Retention and
Satisfaction of Employees in Corporation but during the survey following things I
have kept in mind.
1. To know the preferences of Employees towards various facilities provided by
the corporation.
2. To study the mission and vision of the corporation.
3. To identify the various problems faced by the employees.
4. To study the impact of the facilities provided by company
5. To examine the satisfaction level of Employees.
6. To seek suggestions for the various changes in the services of Corporation for
making them quite convenience.
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RESEARCH METHODOLOGY
The study is an exercise involving estimation of parameters as regard to
organizational requirements. Research was designed so as to get the relevant
information that can be used for various purposes in the organization. Theinformation is to be collected from the different sources of data.
Data Source:-
Two types of data were taken into consideration i.e., primary and secondary data.
But major emphasis was given on gathering primary data. The secondary data was
used only to supplement the primary data and to make things clear.
Primary Data:-
I took primary data by interview method which covered the answering of
questionnaires from Employees. I collected the data first hand for the first time.
Secondary Data:-
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I consulted some Corporation books and previous project reports for some topic
like Introduction to the topic and also referred some websites. I also took
information from various employees who are in close touch with the other grades
of employees.
Survey:-The type of survey undertaken was that of sample type keeping in consideration
the time constraint and paraphernalia, besides the viability of census survey, the
sample survey thus being taken to the right path to reach the desired destination
was carefully planned to convert all the operationby using selected samples.
Statistical Tool:-
The tool for obtaining the information was questionnaire. A structured
questionnaire was administered. The questionnaire was designed in the view both
major and minor objective of study.
Sampling:-
I used stratified sampling for collection of the data, where the whole population isdivided in small strata/groups and the samples are taken from each group.
Sample size:-
The sample size was taken to be 100 in the cluster population of customer
universe.
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DATA ANALYSIS AND INTERPRETATION OF EMPLOYE E S
1. Company is nice
(a)Agree
(b)Disagree
(c)Cant Say
INTERPRETATION
70% of employees say that their company is nice, 20% of them are not satisfied
with it and rest of 10% say that they cant say anything about it.
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2. Company provides all resources to perform
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
72% of employees say that they are provided with all resources to perform, 18% of
them are not satisfied with it and rest of 10% say that they cant say anything about
it.
3. Employees get support and teamwork from other departments in the
company
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
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84% of employees say that they get support and teamwork from other departments
in the company, 12% of them are not satisfied with it and rest of 4% say that they
cant say anything about it.
4. Employs understand the companys objective and try to achieve same
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
72% of employees say that they understand the companys objective and try to
achieve same, 17% of them are not satisfied with it and rest of 11% say that they
cant say anything about it.
5. The mission of company makes me feel that my job is important
(a) Agree
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(b) Disagree
(c) Cant Say
INTERPRETATION
85% of employees say that the mission of company makes them feel that their job
is important, 10% of them are not satisfied with it and rest of 5% say that they
cant say anything about it.
6. Management has created an open and comfortable work environment
(a) Agree(b) Disagree
(c) Cant Say
INTERPRETATION
74% of employees say that management has created as open and comfortable work
environment, 16% of them are not satisfied with it and rest of 10% say that they
cant say anything about it.
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7. My senior clearly defines job responsibilities
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
86% of employees say that their senior clearly defines their job responsibilities ,
9% of them are not satisfied with it and rest of 5% say that they cant say anything
about it.
8.My views are asked and valued
(a) Agree
(b) Disagree
(c) Cant Say
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INTERPRETATION
69% of employees say that their views are participation and valued, 23% of them
are not satisfied with it and rest of 8% say that they cant say anything about it
9. I get an opportunity to do innovative things at work
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
55% of employees say that they get an opportunity to do innovative things at work,
35% of them are not satisfied with it and rest of 10% say that they cant say
anything about it.
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10.My senior communicates me the area of improvement in my job
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
87% of employees say that their senior communicates them the area of
improvement in their job, 6% of them are not satisfied with it and rest of 7% say
that they cant say anything about it.
11.I feel stressed in my job
(a) Agree
(b) Disagree
(c) Cant Say
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INTERPRETATION
56% of employees say that they feel stressed in their job, 34% of them are not
satisfied with it and rest of 10% say that they cant say anything about it.
12.My job is secured
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
84% of employees say that their job is secure in the corporation, 7% of them are
not satisfied with it and rest of 9% say that they cant say anything about it.
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13. I am given enough authority to make decisions I need to make
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
46% of employees say that they are given enough authority to make decisions,
39% of them are not satisfied with it and rest of 15% say that they cant say
anything about it.
14.The seniors are supportive
(a) Agree
(b) Disagree
(c) Cant Say
INTERPRETATION
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81% of employees say that the seniors are supportive, 14% of them are not
satisfied with it and rest of 5% say that they cant say anything about it.
SUGGESTIONS
In the light of the findings of the study the following suggestions have been found
for the improvement in the retention and satisfaction of employees.
1. NRV should recruit more professional people & experience people.
2. More and more fringe benefits shall be provided by the corporation to its
employees.
3. Regular discussions shall be made before every decision.
4. The seniors should be supportive to their subordinates.
5. The efforts of the employees should be appreciated more and more.
6. The corporation should maintain dress code for its employees properly andcompulsory.
7. Opinions, suggestions or ideas should be taken from the subordinates fordecision making.
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8. Marketing team should be strong.
9. Latest technology required to fast production rate.
CONCLUSION
Retention is an important concept that has been receiving considerable
attention from academicians, researchers and practicing HR managers. In its
essence, Retention comprises important elements such as the need or
content, search and choice of strategies, goal-directed behavior, social
comparison of rewards
reinforcement, and performance-satisfaction. The increasing attention paid
towards Retention is justified because of several reasons. Motivated
employees come out with new ways of doing jobs. They are quality oriented.
They are more productive. Any technology needs motivated employees toadopt it successfully. Several
approaches to Retention are available. Early theories are too simplistic in
their approach towards Retention. For example, advocates of scientific
Management believe that money is the motivating factor. The Human
Relations Movement posits that social contacts will motivate workers. Mere
knowledge about the theories of
Retention will not help manage their subordinates. They need to have certain
techniques that help them change the behavior of employees. One such
technique is reward. Reward, particularly money, is a motivator according to
need-based and
process theories of Retention. For the behavioral scientists, however, money
is not important as a motivator. Whatever may be the arguments, it can be
stated that money can influence some people in certain circumstance. Being
an outgrowth of Herzbergs, two factor theory of Retention, job enrichment
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is considered to be a powerful motivator. An enriched job has added
responsibilities. The makes the job interesting and rewarding. Job
enlargement refers to adding a few more task
Limitations
Since the road to improvement is never ending, so this study also suffers from
certain limitations. Some of them are as follows:
Because of illiteracy, it was a time consuming method in which continuous
guidance was required.
Questionnaire method involves some uncertainty of response. Co-operation
on the part of informants, in some cases, was difficult to presume.
It is possible that the information supplied by the respondents may be
incorrect. So, the study may lack accuracy.
The research area under my study may not be representative of whole
universe. So the findings may not be generalized.
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QUESTIONNAIRE
ON
EMPLOYEE RETENTION SURVEY
All survey responses will be kept in a strictest confidence
NAME: _____________________________________
AGE: ________________________________
DESIGNATION: ________________________________________
GENDER: ______________________________
MOBILE NO: _____________________________________
-------------------------------------------------------------------------------------------------------------------------------
----------
1. Company is nice
a) Agree b) Disagree
c) Cant Say
2. The working conditions are good and safe
a) Agree b) Disagree
c) Cant Say
3. I feel stressed in my job
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a) Agree b) Disagree
c) Cant Say
4. I am provided with all resources to perform
a) Agree b) Disagree
c) Cant Say
5. I am recognized as an individual
a) Agree b) Disagree
c) Cant Say
6. I get support and teamwork from other departments in the company
a) Agree b) Disagree
c) Cant Say
7. I understand the companys objective and try to achieve same
a) Agree b) Disagree
c) Cant Say
8. The mission of company make me feel that my job is important
a) Agree b) Disagree
c) Cant Say
9. My senior clearly defines my job responsibilities
a) Agree b) Disagree
c) Cant Say
10. My views and participation are valued
a) Agree b) Disagree
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c) Cant Say
11. I get an opportunity to do innovative things at work
a) Agree b) Agree
c) Cant Say
12. My senior communicates me the area of improvement in my job
a) Agree b) Disagree
c) Cant Say
13. Management has created as open and comfortable work environment
a) Agree b) Disagree
c) Cant Say
14. My job is secure
a) Agree b) Disagree
c) Cant Say
15. Marketing method & plane
.
ANY SUGGESTIONS:-
.....
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BIBLIOGRAPHY AND REFERENCES
During the completion of this project work I have taken reference from various
sources.
They are mentioned as below:-
News paper such as Economic Times, The Times of India Company, www.GOOGLE.com www.nrvisipipeft.co.in
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