Management ,observed by Mary Parker Follett “is to get things through people”.Human resources is a term used to refer to how people are managed by organizations. It was basically a traditionally administrative function but with time it focuses and recognizes talented and engaged people and organizational success. Human resources have at least two related interpretations depending on context. The original usage was traditionally called labour. It is a measure of the work done by human beings. This perspective is changing as a function of new and ongoing research into more strategic approaches. This first usage is used more in terms of 'human resources development', and can go beyond just organizations to the level of national importance. The more traditional usage within corporations and businesses refers to the individuals within a firm or agency, and to the portion of the organization that deals with hiring, firing, training, and other personnel issues, typically referred to as 'human resources management'.

The terms "human resource management" and "human resources" (HR) have largely replaced the term "personnel management" as a description of the processes involved in managing people in organizations. In simple sense, HRM means employing people, developing their resources, "personnel management" as a description of the processes involved in managing people in organizations. Human resource management is to maximize the return on investment from the organization's human capital and minimize financial risk. Presently Human Resource Management is an integral but distinctive part of management. Its objective is the maintenance of better human relations in the organization by the development, application and evaluation of policies, procedures and programs relating to human resources to optimize their contribution towards the realization of organizational objectives. HRM helps in attaining maximum individual development, desirable working relationship between employees and employers, employees and employees, and effective modeling of human resources as contrasted with physical resources

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

Company Profile• Established in 1987

• RANGE OF PRODUCTS

• High fashion footwear (boots, shoes & bags)

• PRODUCTION CAPACITY

• 1.8 million Pairs in a year

• Unit I: 4000 pairs a day Unit II: 4000 pairs a day

• TECHNICAL STRENGTH

• State of art facility equipped with ultra-modern machines,

• PRIMARY COMPETITIVE ADVANTAGES• Experienced R&D department (certified by DSIR, ministry of science& technology, govt. of India –

first footwear unit in India to get this certification)• Large production capacity• Reliability & transparency• • SOCIAL RESPONSIBILITY• In house training institute in collaboration with IL&FS (supported by Ministry of Rural

Development, govt. of India). Aimed at providing employment & skills to people of village settlement and BPL category.

• Equipped with 100 KW Solar Power Generating System. Saving appx. 80000 kg. CO2 emission per year.

• • INTERNATIONAL AFFILIATIONS• First ISO 9001 Shoe Company in the region SA 8000.• • AWARDS AND ACCREDITATIONS• By Provincial govt.• State Export Award 1998• • BY COUNCIL OF LEATHER EXPORTS, INDIA• Certificate of merit 2001.• Best Performance Award 2003• Best Design Award 2005• Certificate of merit:• SA-8000 Social Accountability 2006

• BY GOVT. OF INDIA, MINISTRY OF FINANCE• National Award 2007(special recognition award)• • INTERNATIONAL EXHIBITIONS• Garda and Micam Fairs• • INDIA FRANCHISEE & LICENSEE OF• Miss Sixty Shoes & Accessories, Italy• STENS, France. (Extensible sole).

Objectives are pre-determined goals to which individuals or group activity in an organization is directed. So objectives of HRM are influenced by organizational objectives and individual as well as social goals.

To help the organization reach its goals. To identify and satisfy the needs of

individuals. To achieve and maintain high morale among

employees. To develop and maintain a quality of work life. To be ethically and socially responsive to the

needs of society.

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

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 corporates in the current scenario. Individuals once being trained have a tendency to move to other organizations for better prospects. Lucrative salary, comfortable timings, better ambience, growth prospects are some of the factors which prompt an employee to look for a change. 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.

To understand the employee retention and satisfaction in general and of Gupta Overseas Pvt. Ltd in particular.

To study the reasons for attrition and measures that has to be taken by the company to reduce the attrition.

DATA COLLECTION: There are two sources of data collection: Primary data :- It is a fresh data which has been collected from

the survey area through; Questionnaire Interview Secondary data :- It is the analysis of existing documents. It

involves the study of various documents available in the organization and outside, which may contain information for the study.

Websites I will be using both the above methods to

support my study.

SAMPLE AREA: Gupta H.C Overseas

SAMPLE SIZE: Questionnaire of 35 employees will be

conducted of Gupta HC Overseas. 

Retention begins before day one… Connie Chapman Employee orientation is a multi-stage process utilizing both formal and informal activities that help assist the employee to become part of the culture of any organization, including the library. A human resources program that includes well-planned processes for recruitment, selection, orientation, socialization and retention will help a library be more competitive as librarians retire. Paying attention to these processes is increasingly important as we enter the period in which the baby boomer generation is moving toward retirement

EMPLOYEE RETENTION-A REAL TIME CHALLENGES IN GLOBAL WORK ENVIRONMENT…Dr. K. Aparna Rao Employee retention is most critical issue facing corporate leaders

as a result of the shortage of skilled labor, economic growth and employee turnover. Retaining employees involves understanding the intrinsic motivators of them which many organizations unable to identify. The reason is "Individuals differ greatly in this regard. A Company should exert some effort and undertake some analyses to determine the nonmonetary interests and preferences of its key employees, and then attempt to meet these preferences in action." In this context organizations need to dig novel approaches to retain the most effective manpower. Indian companies are lining up robust hiring plans, making India the most lucrative country in the world for job seekers. Retention strategies should not be orchestrated in isolation but must form part of the overall strategies for strengthening the pull on the talent while this augurs well for employees, it means employers need to up the ante on Employee Retention, one of the most critical issues organizations face today. Looking carefully into many organizations-Retention strategies are very competitive, companies try to provide their best to retain the employees of their competitors. In this conceptual paper the author has attempted to bring out employee retention approaches, strategies for knowledge workforce, for achieving competitive advantage. The Author has given some suggestion to improvise the procedure of employee retention.

According to Joan Brannick’s Successful retention strategies can also translate into dollars and cents on the balance sheet. It can cost as much as two times the annual salary to replace an employee. A small decrease in employee turnover often results in a dramatic increase to the company’s bottom line. Retention-savvy companies use these seven strategies to retain their top talent and, therefore, to improve their company’s financial and non-financial standing in the marketplace.

    According to Get Les McKeon’s employee retention is

effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their divers needs. Also of concern are the costs of employee turnover (including hiring costs productivity loss).

 

Training Managers To Improve Employee Retention…(JF Filler) The goal of virtually every business operating today is essentially the same:   to make money.   When it comes to the fine art of turning a profit, there are as many different factors that influence whether or not a company makes money as there are ways to make it.   All successful companies begin by hiring people who best fit the position, and in the modern-day world of business, a considerable amount of time, effort, or money is invested in this endeavor.   Once a stellar candidate has been hired, however, it does the company no good if, six months down the road, they quit because the working environment turned out not to be the right fit for them. Employees may leave a company for many different reasons, and many of those reasons frequently stem from a sense of general dissatisfaction with the way they are being managed.   All too often, this important aspect of employee turnover gets the attention it deserves only after it becomes a serious problem.   Improving managers' skills by giving them retention-oriented training is one of the most effective ways to reduce turnover, and it also has other benefits that contribute to making the company more successful.

Kentucky Media Employees are a valuable asset for any organization because there is a lot that is invested in acquiring and retaining them. As such, most organizations would like to retain their employees for longer to avoid the costs that may arise from the need to hire, recruit and train. In order to reach this goal employers employ various employee retention strategies. This is mainly because different employees have different needs and they are motivated differently. Therefore, the challenging secret is the acquisition of the right combination of strategies to enhance retention.

Kehr (2004), explains that the implicit retention factors in spontaneous, expressive and pleasurable behavior and can be divided into three variables; power, achievement and affiliation. Power refers to dominance and social control. Achievement is when personal standards of excellence are to be met or exceeded and affiliation refers to social relationships which are established and intensified. Implicit and explicit retention factors relate to different aspects of the person, but both are important determinants of behavior.

According to Osteraker (1999), the employee satisfaction and retention are considered the Cornerstone for success of organization. Past study divided it into social, mental or physical Dimension. The grouping is based on social contacts at works, characteristics of the work task or the physical and material circumstances associated with work. The retention factors of the mental dimension are work characteristics, employees are retaining by flexible tasks where they can use their knowledge and see the results of their efforts. The social dimension refers to the contact employees have with other people, both internal and external. The physical dimension consists of working conditions and pay. In order to retain employees the organization need to gain information about the dynamics that characterized the motivation to work.

  Van Knippenberg (2000), suggested that employee become

more loyal and stay in the organization when they identify themselves within a group and contribute to the performance as a group. This suggestion relies on work performed by Locke and the goal setting theory he developed. The goal is team performance and the individual feeling part of the group. The focus of Locke was on the goal, but in order to reach the goal one must associate oneself with the group and task

Fitz-enz (1990) recognized that only one factor is not responsible in management of employee‟s retention, but there is several factors influenced in employee‟s retention which need to manage congruently i.e. compensation & rewards, job security, training & developments, supervisor support culture, work environment and organization justice etc.Accordingly, organization utilizes extensive range of human resource management factors influence in employee commitment and retention This study also have objective to find out the factors which is more influence in employees retention, for this purpose these factors are categorized into organizational factor i.e. supervisor support, organizational justice, organization image and work environment and Human resource factors i.e. employee value match, training & development, remuneration & reward, job security and employees promotion aspect.

  According to Smith (2001) money bring the workers in the organization

but not necessary to keep them. According to Ashby and Pell money satisfies the employee but it is not sufficient to retain the employee means it is insufficient factor. Money is not considered as primary retention factor (Brannick, 1999). Many organization implement very good employees retention strategy without offering high compensation or pay based retention strategy (Pfeffer, 1998). In such circumstances a wide number of factors are seems for successful retention of employees. The existence of other retention factors cannot be ignored.

Ihsan and Naeem (2009), indicated that Pharmaceutical sales force rated pay and fringe benefits as the most important retention factor which is supported by the findings of past studies. In addition, it indicate that pay and fringe benefits is highly valued by the sales force of all demographic Backgrounds. Its possible explanation could be that pays and fringe benefits enable salespersons to fulfil their physiological as well as esteem needs. Thus, critical review of the current incentive schemes is required to make them more effective to cater to needs of the sales in both multinational and local pharmaceutical companies to retain their talent workers.

  Compensation is considered the most important factor for

attracting and retaining the talent (Willis,2000). A fair wages are the foundation element of the implied and contractual bond between employers and employees, the underlying supposition being that monetary can persuade behavior (Parker and Wright, 2001). Organizations often offer high pay packages i.e. stock options, special pay, retention pay, gain share pay, performance base pay and bonus etc. for attraction and retention of talented employees of the market.

Williams and Dreher (1992), wages is the key factor influence in the employee attraction and retention, and play important role in the recruitment process. Highhouse et al, (1999) recommend that only pay is not sufficient to retain the employees. He argues that low pay package will drive workers out the organization but it is not necessary that high pay package bring and keep the workers in the organization. Ultimately, the workers stay in the organization due to others factors i.e. work environment, co-workers behavior and supervisor support etc. which compel the employee to retain in the organization.

According to Walker (2001), compensation offer recognition, but non-monetary forms of recognition are also not ignored and important. Recognition from bosses, team members,coworkers and customer enhance loyalty. Employee participation in decision making and influence in actions are also important.

According to Noe (1999), employees have perception to acquire new knowledge & skills which they apply on the job and also share with other employees.Research studies found that organization often delay employee training program to determine that workers personal value good matches with organization culture or otherwise, therefore to peter out the employee turnover intention. 

According to Gomez et al, (1995), training provides specialized technique and skills to employee and also helps to rectify deficiencies in employee performance, while development provide the skills and abilities to employee which will need the organization in future. Development of skill consists of improving interpersonal communication, technological knowledge, problem solving and basic literacy etc

Garg & Rastogi (2006) explain that in today‟s competitive environment feedback is essential for organizations to give and receive from employees and the more knowledge the employee learn the more he or she will perform and meet the global challenges of the market place.

Bishop (1998), survey on training found that established, larger, manufacturing and unionized firms have tend to provide training to employee as did multi established firms with flexible production approach or high performance. Research study finds that, larger companies, high performance establishment and those organizations which spend more physical resources were usually more probably to retain their talent.

Storey and Sisson (1993), recommend that training is sign of organization commitment to employees. Training also reflects organization strategy that is based on value adding rather than cost lowering. Leading firms of the industry recognize that comprehensive range of training, skill and career development is the key factor of attraction and retention the form of flexible, sophisticated and technological employees that firms strategy to succeed in the computerized economy