Employee Retention- Nirmal Bang

8/18/2019 Employee Retention- Nirmal Bang

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ABSTRACT

Retention management remains one of the most relevant and significant topics in

international Human Resource Management (HRM). The most common explanation for

such a significance is that excellent retention management has become a major source of

competitive advantage in the modern and rapidly globalizing business orld.

!t just simply costs too much money to replace even one valuable employee.

Hence" the main tas# of retention management is tofold. $esides applying the correct

motivation techni%ues to retain its top talent and maintain a competitive advantage" the

organization also has to reduce the replacement cost and especially its &soft' component

(the cost of losing employees' experience" professional expertise" #ey customer

relationships" etc.) if or hen an employee does decide to leave.

Most of the academic literature on retention deals ith general and

unspecific preventive strategies pertaining mainly to industrial companies. This paper

concentrates particularly on the retention techni%ues designed to project the important

tacit #noledge in rofessional ervices *irms (*s) hich ould help them reducetheir overall replacement costs and increase their competitiveness in the mar#et place.

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TABLE CONTENTS

CHAPTERS TITLES

PAGE

NUMBERS

CHAPTER-I

INTRODUCTION 1-8

NEED FOR THE STUDY 8

OBJECTIVES OF THE STUDY 8

SCOPE OF THE STUDY 8

IMPORTANCE 9-10

METHADOLOGY 10

LIMITATIONS 10

CHATER-IILITERATURE ON EMPLOYEE RETENTION 11

CONCEPTUAL REVIEW ON EMPLOYEE

RETENTION

12-31

CHAPTER-III

ORGANISATION PROFILE 32-40

CHAPTER-IV

DATA ANALYSIS AND INTERPRETATION 41-

CHAPTER-V

FINDINGS!SUGGESTIONS " CONCLUSION #-9

BIBLIOGRAPHY #0

ANNE$URE

#1-#2

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CHAPTER % I

INTRODUCTION


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H/M01 R23/R42 M01052M21T

Human Resource Management (HRM) is the function ith in an organization that

focuses or recruitment of" management of" and providing direction for the people ho

or# in the organization" human Resource Management can also by performed by line

managers.

Human Resource Management is the organizational function that deals ith issues related

to people such as compensation" hiring" performance management" organization

development" safety" ellness" benefits" employee motivation" communication"

administration" and training.

0dministrative activities associated ith human resources planning" recruitment"

selection" orientation training" appraisal" motivation" remuneration" etc. Human Resource

Management aims at developing people through or#.

• 3rganizations are not mere bric#s" mortar" machineries or inventories. They are

people. !t is the people ho staff and manage organizations.

• HRM involves the application of management functions and principles. The

functions and principles are applied to ac%uisitioning" developing" maintaining"

and remunerating employees in organizations.

• 6ecisions relating to employees must be integrated. 6ecisions on different aspects

of employees must be consistent ith other human resource (HR) decisions.

• 6ecisions made must influence the effectiveness of an organization. 2ffectiveness

an organization must result in betterment of services to customers in the form of

high7%uality products supplied at reasonable costs.

• HRM functions are not confined to business establishments only. They are

applicable to non7business organizations" too" such as education" health care"

recreation" and the li#e.

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2mployee Retention involves ta#ing measures to encourage employees to remain in the

organization for the maximum period of time. 4orporate is facing a lot of problems in

employee retention these days. Hiring #noledgeable people for the job is essential for

an employer. $ut retention is even more important than hiring. There is no dearth of

opportunities for a talented person. There are many organizations hich are loo#ing for

such employees. !f a person is not satisfied by the job he's doing" he may sitch over to

some other more suitable job.

!n today's environment it becomes very important for organizations to retain their

employees. The top organizations are on the top because they value their employees and

they #no ho to #eep them glued to the organization. 2mployees stay and leave

organizations for some reasons. The reason may be personal or professional. These

reasons should be understood by the employer and should be ta#en care of. The

organizations are becoming aare of these reasons and adopting many strategies for

employee retention.

0. 4ompensation

$. 5roth

4. upport

6. Relationship

2. 2nvironment

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4ompensation constitutes the largest part of the employee retention process. The

employees alays have high expectations regarding their compensation pac#ages.

4ompensation pac#ages vary from industry to industry. o an attractive compensation

pac#age plays a critical role in retaining the employees.

4ompensation includes

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salary and ages" bonuses" benefits" prere%uisites" stoc# options" vacations" etc. :hile

setting up the pac#ages" the folloing components should be #ept in mind;

S66( 6&* .)&'7 6 !t is the biggest component of the compensation pac#age. !t

is also the most common factor of comparison among employees. !t includes

$asic age

House rent alloance

6earness alloance

4ity compensatory alloance

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5roth and development are the integral part of every individual's career. !f an employee

can not foresee his path of career development in his current organization" there are

chances that he'll leave the organization as soon as he gets an opportunity.

W)(: /(); The or# profile on hich the employee is or#ing should be in

sync ith his capabilities. The profile should not be too lo or too high.

P(5)&6 ()'7 6&* *(6.5 2mployees responsibilities in the organization

should help him achieve his personal goals also. 3rganizations can not #eep aside

the individual goals of employees and foster organizations goals. 2mployees'

priority is to or# for them and later on comes the organization. !f he's not

satisfied ith his groth" he'll not be able to contribute in organization groth.

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• 4ommunications s#ills

• Technical s#ills

• !n7house processes and procedures improvement related s#ills

• 4 or customer satisfaction related s#ills

• pecial project related s#ills

1eed for such training can be recognized from individual performance revies"

individual meetings" employee satisfaction surveys and by being in constant touch

ith the employees.

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=ac# of support from management can sometimes serve as a reason for 2mployee

retention. upervisor should support his subordinates in a ay so that each one of them is

a success. Management should try to focus on its employees and support them not only in

their difficult times at or# but also through the times of personal crisis. Management

can support employees by providing them recognition and appreciation.

2mployers can also provide valuable feedbac# to employees and ma#e them feel valued

to the organization.

The feedbac# from supervisor helps the employee to feel more responsible" confident and

empoered. Top management can also support its employees in their personal crisis by

providing personal loans during emergencies" childcare services" employee assistance

programs" counseling services.

2mployers can also support their employees by creating an environment of trust and

inculcating the organizational values into employees. Thus employers can support their

employees in a number of ays as follos;

• $y providing feedbac#

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• $y giving recognition and reards

• $y counseling them

• $y providing emotional support

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ometimes the relationship ith the management and the peers becomes the reason for an

employee to leave the organization. The management is sometimes not able to provide an

employee a supportive or# culture and environment in terms of personal or professional

relationships. There are times hen an employee starts feeling bitterness toards the

management or peers. This bitterness could be due to many reasons. This decreases

employee's interest and he becomes de7motivated. !t leads to less satisfaction and

eventually attrition.

0 supportive or# culture helps gro employee professionally and boosts employee

satisfaction. To enhance good professional relationships at or#" the management should

#eep the folloing points in mind.

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dissatisfied. 2mployees should #no hat the organization expects from them

and hat their expectation from the organization is. 6eliver hat is promised.

• P().)' 6& ./) =65* ,+'+( The employee should #no that the

organization is there to support him at the time of need. ho them that the

organization cares and he'll sho the same for the organization. 0n employee

based culture may include decision ma#ing authority" availability of resources"

open door policy" etc.

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• 4ulture

• Aalues

• 4ompany reputation

• Buality of people in the organization

• 2mployee development and career groth

• Ris# ta#ing

• =eading technologies

• Trust

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NEED FOR THIS STUDY

2mployers have a need to #eep employees from leaving and going to or# for other

companies. This is true because of the great costs associated ith hiring and retraining

ne employees. The best ay to retain employees is by providing them ith job

satisfaction and opportunities for advancement in their careers. The saying" food help is

hard to find" is even truer these days than ever before because the job mar#et is becoming

increasingly tight.

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rimary data is collected through a ell structured %uestionnaire circulated among

sample respondence and through personal intervies ith them.

ersonal discussions ere held ith the folloing officials to elicit relevant information

for the purpose of the study.

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econdary data as sometimes collected from more than one source.

The secondary data is collected from the official records of the company" through

journals" ebsites etc."

LIMITATIONS

+. tudy is mainly based on corporate data it may not full fill the need.

,. =imited #noledge about the study

-. hort duration of the study" the data presentation may not give the true picture.

. The data may not be accurate

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CHAPTER % II

REVIEW OF LITERATURE

Mar# arrott (,@@@) believes that" there is a straight line beteen employee satisfaction

and customer satisfaction. He believes that today's employees pose a complete ne set of

challenges" especially hen business are forced to confront one of the lightest labor

mar#ets in decades. Therefore" it is getting more difficult to retain employees" as the pool

of talent is becoming more7and Fmore tapped7out. The research belo" hich focuses

primarily on employee retention through job satisfaction" supports this contention.

2very person ill have his or her on definition of hat it means to be satisfied ith

their hobs are more productive" creative and be more li#ely to be retained by the

company.

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The second goal of this research is to help readers find his or her definition of job

satisfaction. ! believe that this compilation of data ill educate and inform the or#ing

masses to see the benefits of creating or# places that derive more job satisfaction"

retaining employees and in turn" #eeping our economy healthy and our society happier.

There is a definite need to analyze the elements of employee retention through job

satisfaction. 4onsidering the positive effects on the economy that can be derived from

satisfied7happy employees. romotional materials for presentation can be created" high

lighting these recommendations for employee satisfaction practices for both employers

and employees.

2s#ildsen and 1ussler (,@@@) suggest that employers are fighting to get talented

employers in order to maintain a prosperous business.

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+ 4areer groth" learning G development.

, 2xciting or# G challenge.

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- Meaningful or#" ma#ing a difference G a

contribution.

5reat people

8 $eing par of a team

9 5ood boss

< Recognition for or# ell done

> *un on the job

? 0utonomy" sense of control over or#

+@ *lexibility7 for example" !n or# hours Gdress code.

++ *air pay and benefits.

+, !nspiring leadership.

+- ride in orgn" its mission G %uality of product.

+ 5reat or# environment.

+8 =ocation.

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4ommunications 7 5etting our eople to 4are

et 4lear 2xpectations

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4hallenging or#

=earning oriented relationship ith superiors" subordinates and colleagues.

4ompetent =eadership

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4hallenging or#

=earning oriented relationships ith peers" subordinates and superiors.

Measures that organization can use to improve retention rates

4larifying 2xpectations

Recognizing 2mployees

Hire the Right eople

:al# the Recognition Tal#

ho them you care

*ight attrition ith smart training

6evelop ea# performers

4ommunication

ride in ones or#

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5oal tatements formalize the folloing;

:hat is to be accomplished

:ho ill be involved

:hen the activity ill be completed

Ho much it costs and hich resources ill be used

2valuate your or# against measurable standard

SMART- B65* P(;)(.6&, S'6&*6(*5 " G)65

Specific F 6etailed and clear.

Measurable F Buantity and unit of measure stated.

Attainable % 4an be performed by the team member.

Results-Oriented F 0n output is produced" not an activity.

ime-!ramed F 4ompleted by a definite time.

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Ta#e the time to do it right (planL)

6etermine desired competencies" job s#ills and characteristics

/tilize behavior based intervieing techni%ues

Train staff in hiring procedures

0ssess ne employees during probation period

2xamples of good and poor hires

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4ertificates of RecognitionN

tic#ers and ins

:all of *ame

Recognition Aoice Mail

Than# a *amily MemberN card

Than#s for a job ell doneN card

Ta#e a person to lunch

4andy" $alloons" opcorn" Movie Tic#ets

W6: '7 R,)&')& T6:

1othing can replace than# youN

*ind out about hobbies" sports" family

6evelop an attitude of gratitudeN

Recognize everyone

Ma#e it sincereCtimely

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$rings to your organization leading7edge organization7development best

practices to effectively and %uic#ly build a retention7rich culture.

The 2mployee Retention trategies nesletter" hich gained this ebsite the 1o. +

positions on 5oogle and ahoo during its publication in the early part of this decade" as

a nationally noted source for research7based" fact7driven guidance on enhancing

employee retention. ($ac# issues still are available). *rom that research come approaches

built on a solid foundation of hat or#s (and hat doesn't) to gain the commitment of

employees in all industries and economic sectors.

0dded to this base are leading7edge organization7development methodologies to bring

your organization's strengths to the fore" to re#indle the dynamic potential of your

company to meet today's challenges and to rebuild or#force commitment to the heart of

your organization's mission.

pend time reading the topics on this site. /nderstand more about hat truly contributes

to employee engagement and retention. Then" call for an individual discussion of your

organization's uni%ue retention agenda.

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1oadays" people are getting smarter. :ith various options available to them they can

shift their jobs very easily. The employee turnover rate is increasing. Thus" the employers

are alays orried about retaining their valuable employees. Human resource is the most

vital resource for any organization. 3rganizations should practice the human resource

management principles of motivation" performance appraisal" training" reards" etc. to

retain their valuable employees.

E;;,&' R,(+'&

3rganizations must select committed human resource. They can go for psychometric tests

such as personality tests" ability tests" etc to #no more about the candidate. These tests

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ill help the recruiters to judge the candidate as an individual and hisCher personality

traits that are li#ely to affect the job behaviours. The recruiters should select candidates

ho are really interested in joining the organization. This can help the organization

reduce the employee turnover.

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2mployees join or leave the organization for a good salary pac#age. 3rganizations should

offer a handsome competitive salary pac#age #eeping in mind the industry standards. The

employees may be given other benefits" such as medical reimbursements" insurance

coverage" travel alloances" mobile alloances" company's vehicle" company's

accommodation" etc.

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riting. Their salary can be increasedP they may be provided incentivesP they may be

promoted. !f the employees are developing themselves ell in the organization in all

respects (social status" #noledge" compensation pac#ages" etc.) then they ill not be

leaving the organization ithout any serious cause for complaint.

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2mployers should treat the employees" as they ould ant themselves to be treated. They

should give credit to the employees herever desired. 0ll the objectives and outcomes

should be clearly explained to employees.

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The employees may be empoered and given authority to ta#e their decisions

themselves. The level of control depends on the nature of or#" organizational policies"

etc. /sually managers do not ant to delegate the authority to their subordinates" but at

times it becomes very difficult for the employee to or# ithout the authority to ta#e

decisions on their on.

uccessful organizations realize employee retention and talent management are integralto sustaining their leadership and groth in the mar#etplace. $ecoming an 2mployer of

4hoice by retaining high7caliber employees in todayDs labor mar#et should be the highest

priority.

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. P(;)(.6&, B65* B)&+5 0 provision of performance lin#ed bonus can bemade herein an employee is able to relate his performance ith the company

profits and hence ill or# hard. This bonus should strictly be productivity based.

8. R,(6')& ;6,'5 Recreational facilities help in #eeping employees aay

from stress factors. Aarious recreational programs should be arranged. They may

include ta#ing employees to trips annually or bi7annually" celebrating

anniversaries" sports activities" et al.

9. G;'5 6' S). O,,65)&5 5iving out some gifts at the time of one or to

festivals to the employees ma#ing them feel good and understand that the

management is concerned about them.

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Retention Model #iagram

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T7 M)5' I./)('6&' M6&6.&' S,('5

our expectations of people and their expectations of themselves are the #ey factors in

ho ell people perform at or#. Jnon as the ygmalion 2ffect and the 5alatea

2ffect" respectively" the poer of expectations cannot be overestimated. These are the

fundamental principles you can apply to performance expectations and performance

improvement at or#. =earn more.

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• N ?)= );;( 0n attractive job offer hich an employee thin#s is good for him

ith respect to job responsibility" compensation" groth and learning etc. can lead

an employee to leave the organization.

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The basic practices hich should be #ept in mind in the employee retention strategies are;

+. Hire the right people in the first place.

,. 2mpoer the employees; 5ive the employees the authority to get things done.

-. Ma#e employees realize that they are the most valuable asset of the organization.

. Have faith in them" trust them and respect them.

8. rovide them information and #noledge.

9. Jeep providing them feedbac# on their performance.

. Jeep their morale high.

?. 4reate an environment here the employees ant to or# and have fun.

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CHAPTER % III

ORGANISATIONAL PROFILE

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1irmal $ang ecurities vt. =td

eople are 3ur greatest asset. 6ran from a diversity of professional bac#grounds" their

blend of experience" s#ill and dedication is shared ith all our clients.

!nnovative and enthusiastic. :e emphasize ade%uate" thorough research local and orld7

ide developments" balancing these ith the astute discovery of intrinsic values"

synergies and groth.

imply to help you maximize your returns. our interests no matter ho big or small 7

come first.

4omprehensive and available to meet every investment financial need.

To provide service" par excellence and become your spirit of change.

4ompany 3vervie 1irmal $ang *inancial ervices vt =td is a R$! registered 1on

$an#ing *inance 4ompany hich offers margin funding facility to its clients. roduct

3vervie Margin funding allos the investors to ta#e leverage positions in the stoc#

mar#et" client has to pay margin of -8 E to 8@E depending upon the scrip and rest is

funded by us. To put it simply" for example in case of scrip prescribed for -8E margin" if

client pays cash margin of Rs.-8"@@@C7" he can buy shares of Rs.+@@@@@C7 and funding byus ould be of Rs.98@@@C7.Margin can be provided in cash as ell as approved securities.

crips; *unding only against approved securities as per the list approved by the

management from time to time. 4lic# here to Aie the 0pproved =ist.. $enefits

• 4orporate 0ction benefits li#e bonus" dividend etc continue to accrue to the

borroer.

• 0ny appreciation in the value of the ecurities given as margin ould

automatically allo enhancement in draing poer.

• !nterest ill be calculated on the amount utilized G the actual period for hich it

is utilized.

• 4lients can vie their financial statement and holdings online.

->

http://www.nirmalbang.com/Static/Funding_List.xlshttp://www.nirmalbang.com/Static/Funding_List.xlshttp://www.nirmalbang.com/Static/Funding_List.xlshttp://www.nirmalbang.com/Static/Funding_List.xls


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Ris# Monitoring ystem !n case of shortfall in the margin the client has to follo the

prescribed norms and replenish the short margin or else the shares ould be li%uidated to

the extent of the shortfall. 6ocuments Re%uirement 0) !ndividuals

+. 4lient has to open a ban# account ith 0xis $an# and 6emat account ith

1irmal $ang ecurities vt =td both under 30 ith us.

,. =oan agreement to be duly filled up and signed therein.

-. 4opy of 01 card

. 4opy of 0ddress roof

8. To passport sized photographs

9. 4opy of latest to years !TRs


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ortfolio Management ervices (M)74ultivating a taste for success !nvesting is no

longer a means to save the extra income earned" but has become an essential ingredient of

high living. M" as a product category" is designed to help clients navigate the

increasingly tough and uncertain terrain of the investment orld ith total ease and

e%uanimity. 4oncentrated calls ta#en by professionals" ho have the experience of

negotiating a number of mar#et cycles over the years" help investors both defend their

investmentsCsavings and consistently perform better than the mar#ets. Thus" 1irmal $ang

M offers the vehicles for a comfortable and smooth journey to ealth creation in the

investment arena. :e have plans for a range of products" occupying various positions

along the ris#7return matrix" thus catering to the needs of clients ith different

approaches to investing. !n continuation ith the tradition of delivering %uality ith

sincerity at 1irmal $ang" this mar# yet another step toards becoming a complete

financial solution provide !nvesting in the stoc# mar#et re%uires in7depth analysis of the

scrip and the companies and the business that they are involved in. Retail investors

seldom have the time and expertise to analyse stoc#s.

!n !ndia" Mutual funds come to the rescue of such investors. 0ll ary investors #no that

the best ay to ma#e money is to involve in stoc# mar#et investing and buying !ndian

mutual funds.

Mutual *unds in !ndia comprise of a group of investors come together and create a

corpus hich in invested in the stoc# mar#et by a fund manager. Thus" the investors can

depend on the expertise of the fund manager in order to maximise the returns on their

mutual fund portfolio.

!n !ndia" Mutual *unds invest in different securities subject to the investment objective as

set forth in the prospectus. The prospectus is a legal document under 2$! las and

contains a lot of information about the mutual fund.

!nvesting in mutual funds in !ndia has many benefits;

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o The expertise of the fund manager of the 0M4 that manages mutual funds money

in !ndia helps the investor to maximise the profits on the amount invested in the

mutual fund.

o !ndian Mutual *unds invest money in a idespread bas#et of shares and e%uities"

depending on the nature of the *und and sitch investments to different securities

depending on the 2%uity mar#et conditions

o !n !ndia" Mutual funds are an easy and cost efficient ay of investing along ith

tax benefits.

There are many #inds of mutual funds available for the investors to choose from.

ector pecific Mutual *und

=argeCmallCMid F cap Mutual *und

!ndex Mutual *unds

Here is some information on companies that ould enable you to invest in some of the

best mutual funds in !ndia;

o $! Mutual *und

o *ran#lin Templeton Mutual *und

o Reliance Mutual *und

o Tata Mutual *und

o undaram $1 aribas Mutual*und

o *idelity !nvestments Mutual *und

C)..)*' M6(:' & I&*6

0 commodity may be defined as a product or material or any physical substance li#e foodgrains" processed products and agro7based products" metals or currencies" hich investors

can trade in the commodity mar#et. 3ne of the characteristics of a commodity is that its

price is determined as a function of its mar#et as a hole. :ell7established physical

commodities are actively traded in spot and derivative commodity mar#et. 4ommodities

actually offer immense potential to become a separate asset class for mar#et7savvy

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investors" arbitragers and speculators. Retail investors" ho claim to understand the

e%uity mar#et" may find commodity mar#et %uite tric#y. $ut commodities are easy to

understand as far as fundamentals of demand and supply are concerned. Retail investors

should understand the ris#s and advantages of trading in commodity mar#et before ta#ing

a leap. Historically" prices of commodities have remained extremely volatile.

The gradual evolution of commodity mar#et in !ndia has been of great significance for

the countryDs economic prosperity. The commodity futures exchanges ere evolved in

+>@@ ith the sole objective of meeting the demand of exchangeable contracts for trading

agricultural commodities. *or example" the cotton exchange located at 4otton 5reen in

Mumbai (then $ombay) as the one of the first organised commodity mar#et in the

country.

0 commodity mar#et is a mar#et here various commodities and derivatives products are

traded. Most commodity mar#et across the orld trade in agricultural products and other

ra materials (li#e heat" barley" sugar" maize" cotton" cocoa" coffee" mil# products" por#

bellies" oil" metals" etc.) and contracts based on them. These contracts can include spot

prices" forards" futures and options on futures. 3ther sophisticated products may include

interest rates" environmental instruments" saps" or ocean freight contracts.

4ommodities exchanges usually trade futures contracts on commodities" such as trading

contracts to receive a particular commodity in physical form. peculators and investors

also buy and sell the futures contracts at commodity exchanges to ma#e a profit and

provide li%uidity to the system.

The !ndian commodity mar#et offers a variety of products li#e rice" heat" coal"

petroleum" #erosene" gasolineP metals li#e copper" gold" silver" aluminum and many more.

There are some commodities such as sugar" cocoa" and coffee" hich is perishable" so

cannot be stoc#ed for long time. These days" a ide range of agricultural products"

energy products" perishable commodities and metals can be sold under standardized

contracts on futures exchanges prevailing across the globe. 4ommodities have gained

importance ith the development of commodity futures indexes along ith the

,


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mobilization of more resources in the commodity mar#et.

!ndia has around ,8 recognized commodity future exchanges including three national7

level commodity exchanges. They are;

+. 1ational 4ommodity G 6erivatives 2xchange =imited (1462I)

,. Multi 4ommodity 2xchange of !ndia =imited (M4I)

-. 1ational Multi74ommodity 2xchange of !ndia =imited (1M42) 0ll these

exchanges are under the control of the *orard Mar#et 4ommission (*M4) of

5overnment of !ndia.

1ational 4ommodity G 6erivatives 2xchange =imited (1462I) located in Mumbai is a

public limited company incorporated on 0pril ,-" ,@@- under the 4ompanies 0ct" +?89and commenced its operations on 6ecember +8" ,@@-.This is the only commodity

exchange in the country promoted by national level institutions li#e !4!4! $an# =imited"

=ife !nsurance 4orporation of !ndia (=!4)" 1ational $an# for 0griculture and Rural

6evelopment (10$0R6) and 1ational toc# 2xchange of !ndia =imited ( 12 !ndia). !t

is a professionally managed online multi7commodity exchange. !t is a technology driven

de7mutualised on7line commodity exchange ith an independent $oard of 6irectors and

professional management.

Multi 4ommodity 2xchange of !ndia =imited (M4I) in Mumbai" is also an independent

and de7mutualised exchange recognized by the 5overnment of !ndia. This commodity

exchange hich started operations in 1ovember ,@@- has above @ commodities on its

platform and has a mar#et share of around >@E in the !ndian commodity mar#et. Jey

shareholders of M4I are *inancial Technologies (!ndia) =td." tate $an# of !ndia" /nion

$an# of !ndia" 4orporation $an#" $an# of !ndia and 4anara $an#. This commodity

exchange facilitates online trading" clearing and settlement operations for commodity

futures mar#et across the country.

1ational Multi 4ommodity 2xchange of !ndia =imited (1M42) is the first de7

mutualized" 2lectronic Multi74ommodity 2xchange to be formed in !ndia. 3n ,8th Quly"

,@@+" it as granted approval by the 5overnment of !ndia to organise trading in the

edible oil complex. !t started operating in the commodity mar#et from 1ovember ,9"

-

http://www.nirmalbang.com/india-market/nse-stock-market-trading-india.aspxhttp://www.nirmalbang.com/http://www.nirmalbang.com/http://www.nirmalbang.com/india-market/nse-stock-market-trading-india.aspxhttp://www.nirmalbang.com/


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,@@,. 1M42 is the only 2xchange in !ndia to have investment and technical support

from commodity relevant institutions li#e 4entral :arehousing 4orporation =td." 5ujarat

tate 0gricultural Mar#eting $oard" 1eptune 3verseas =td" 1ational 0gricultural

4ooperative Mar#eting *ederation of !ndia (10*26)" 5ujarat 0gro7!ndustries

4orporation =td. (50!4=)" 5ujarat tate 0gricultural Mar#eting $oard (50M$) and

the 1ational !nstitute of 0gricultural Mar#eting (1!0M).

0s compared to other mar#ets in the last ten years" commodity mar#et has performed

relatively better than other mar#ets li#e bonds " e%uity or currency. Hoever" the

participation in future trading in !ndian commodity mar#et is very lo as compared to

other countries as there is lac# of #noledge about this mar#et to the investors and

traders. !t is not for mere trading purposeP commodity trading is also used for hedge

against inflation" price discovery of the commodity and also as a sound investment.

N(.6 B6& S,+('5 P


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1irmal $ang caters to the need of customers across !ndia through a netor# of offices

encompassing almost every !ndian states. ou can locate branch near you...

8


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CHAPTER-IV

DATA ANALYSIS

AND

INTERPRETATION

!. :hy have you chosen to remain employed ith the 1irmal bang securitiesS

9


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0. 4areer advancement opportunities

$. 4hallenging or#

4. alary

6. 2mployee benefits

2. =ess travel

*. upervisionCmanagement

S N) OPTIONS RESPONSES PERCENTAGE

0 4areer advancement opportunities -- ,>E

$ 4hallenging or# +? +9E

4 alary , ,@E

6 2mployee benefits , ,@E

2 =ess travel +, +@E

* upervisionCmanagement > 9ETOTAL 120 100

I$ER%REAIO$

*rom the above table it is interpreted that ,


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!!. lease rate the folloing items regarding your employment ith the 1!RM0= $015

24/R!T!2S

+. ositive or# environment (relationships" values and culture)

a) 2xcellent

b) 5ood

c) 0verage

d) oor

e) Aery poor


0 2xcellent 99 88E

$ 5ood-?

--E

4 0verage + +,E

6 oor + @E

2 Aery poor @ @ E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" it is confined that >>E of the respondents said that there is

healthier or#ing environment (relationships" values and culture) existed. +,E of the

employees said that the or#ing conditions of the organization are average. These

employees have to be given proper guidance and have to be encouraged by the superiors.

>


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,. 2%uitable compensation

a) 2xcellent

b) 5ood

c) 0veraged) oor

e) Aery poor


0 2xcellent > @E

$ 5ood 9 ->E

4 0verage , ,@E

6 oor , ,E

2 Aery poor @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" it is interpreted that E of the respondents fully satisfied ith

their compensation. ,@E of the respondents are said that e%uitable compensation is

average. These employees have to be given fair compensation to their or#.

?


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-. 0ppropriate balance of or#Clife issues

a) 2xcellent

b) 5ood

c) 0veraged) oor

e) Aery poor


0 2xcellent +> +8E

$ 5ood 99 88E

4 0verage -@ ,8E

6 oor 9 8E

2 Aery poor @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" it is confined that +8E of respondents said that 2xcellent" 88E

respondents said that good" ,8E of respondents said that average in balance of or#Clife

issues. 8E of respondents hadn't satisfied. o that organization needs to provide

appropriate balance of or#.

8@


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. *lexibility in or# scheduleCtelecommuting

a) 2xcellent

b) 5ood

c) 0verage

d) oor

e) Aery poor


0 2xcellent > @E

$ 5ood 9@ 8@E

4 0verage 9 8E

6 oor 9 8E

2 Aery poor @ @E

TOTAL 120 100

I$ER%REAIO$

*orm the above table" it is observed that ?8E of the respondents are satisfied ith their

flexible or# schedule. 8E of respondents are not satisfied. These employees have to be

given proper guidance and have to be encouraged by the management.

8+


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8. TrainingCeducational opportunities

a) 2xcellent

b) 5ood

c) 0veraged) oor

e) Aery poor


0 2xcellent -9E

$ 5ood > @E

4 0verage ,> ,E

6 oor @ @E

2 Aery poor @ @ETOTAL 120 100

I$ER%REAIO$

*rom the above table" -9E of respondents said that excellent" @E of respondents said

that good" ,E of respondents said that average on training opportunities. 0ll

respondents ere satisfied ith their training opportunities given by the organization.

8,


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9. 3n7the7job training and developmental experiences

a) 2xcellent

b) 5ood

c) 0verage

d) oor

e) Aery poor


0 2xcellent -> -,E

$ 5ood -> -,E

4 0verage -9E

6 oor @ @E

2 Aery poor @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" -,E of respondents said that excellent" -,E of respondents said

that good" -9E of respondents said that average on 3n7the7job training and development.

o finally all of the respondents satisfied ith their 3n7the7job training and development.

8-


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-,E

6 oor @ @E

2 Aery poor @ @ETOTAL 120 100

I$ER%REAIO$

*rom the above table" ,9E of respondents said that excellent" ,E of respondents said

that good" -,E of respondents said that average on 3pportunities for advancement.

3rganization need to provide career advancement opportunities to employees.

8

O//)('+&'5 ;)( 6*


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>. 0ppropriate resources and e%uipment to perform the job

a) 2xcellent

b) 5ood

c) 0verage

d) oor

e) Aery poor


0 2xcellent ,> ,-E

$ 5ood > @E

4 0verage -> -,E

6 oor 9 8E

2 Aery poor @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" ,-E of respondents said that excellent" @E of respondents said

that good" -,E of respondents said that average on 0ppropriate resources and e%uipment

to perform the job. 8E of respondents did not satisfy. 3rganization need to provide

appropriate resources in or# environment.

88


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!!. lease rate the folloing statements regarding supervision received;

+. ets clear goalsCperformance expectations

a) 0lays

b) ometimes

c) 1ever


+ 0lays >9 E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table"


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,. 6istributes or#load e%uitably

a) 0lays

b) ometimesc) 1ever


+ 0lays 8 8E

, ometimes 99 88E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 8E of responded alays" 88E of responded sometimes on

distribution of or#load.

8


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-. rovides information needed to perform job

a) 0lays

b) ometimes

c) 1ever


+ 0lays @E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 9@E of responded alays" @E of responded sometimes on

information provided by management.

8>


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. Recognizes employees for their achievements

a) 0lays

b) ometimes

c) 1ever


+ 0lays >- 9?E

, ometimes -< -+E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 9?E of responded alays" -+E of responded sometimes on

recognizing the employees by management for their achievement.

8?


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8. :elcomes suggestions and encourages feedbac#

a) 0lays

b) ometimes

c) 1ever


+ 0lays 9> 8


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9. !s accessibleCapproachable

a) 0lays

b) ometimes

c) 1ever


+ 0lays ? +E

, ometimes 9 8-E

- 1ever < 9E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" +E of responded alays" 8-E of responded sometimes on

accessibleCapproachable supervision by management. 9E of respondents not satisfied.

3rganization need to adopt motivational aspects to satisfy maximum employees.

9+

Accessi"le/approac#a"le

'1%

/(%

6%

Alays

"ometimes

.ever


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>. !s trustorthy

a) 0lays

b) ometimes

c) 1ever


+ 0lays 9 8-E

, ometimes ,- +?E

- 1ever -- ,>E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 8-E of responded alays" +?E of responded sometimes on

trustorthy of management. ,>E of respondents not satisfied. Management should

maintain co7ordination ith employees leads to increase the trustorthiness among

employees.

9-


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4 lease rate the folloing statements regarding the leadership to the 1irmal bang

securitiesS

+. ets clear goalsCobjectives for the organization

a) 0lays

b) ometimes

c) 1ever


+ 0lays 9> 8


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,. 2ncourages cooperation and teamor# among staff

a) 0lays

b) ometimes

c) 1ever


+ 0lays >@ 9


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-. Aalues employee contributions

a) 0lays

b) ometimes

c) 1ever


+ 0lays 9< 89E

, ometimes 8- E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 89E of responded alays" E of responded sometimes on

employee contributions

99


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. Ma#es an effort to hear employee concerns

a) 0lays

b) ometimes

c) 1ever

S N) OPTIONS RESPONSES

PERCENTAGE

+ 0lays - -9E

, ometimes


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8. !s responsive to #non employee concerns

a) 0lays b) ometimes

c) 1ever


PERCENTAGE

+ 0lays >- 9?E

, ometimes -< -+E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 9?E of responded alays" -+E of responded sometimes on

responsive to #non employee concerns.

9>


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9. 2ncourages open communication

a) 0lays

b) ometimes

c) 1ever


PERCENTAGE

+ 0lays ,8 ,+E

, ometimes ?8


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, 9>E

, ometimes -> -,E

- 1ever @ @E

TOTAL 120 100

I$ER%REAIO$

*rom the above table" 9>E of responded alays" -,E of responded that they are rarely

treated ith respect.


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>. :ould you recommend the job to your friend at 1irmal bang securitiesS

a) es7


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?. !f you left the job ould you live rejoin future groupS

a) es78


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CHAPTER - V

FINDINGS! SUGGESTIONS

AND

CONCLUSION


74/81

FINDINGS

,


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>8E of responded that they are allotted sometimes on distribution of or#load.

>@E of responded that there information is considered by the management in

decision ma#ing.

>9E of responded that they are recognized by management for the

accomplishment of tas#s.

9>E of responded there suggestions are ta#en into consideration and organization

encourages feedbac# of employees.

SUGGESTIONS

2mployees have to be given proper guidance and have to be encouraged by the

management.

3rganization need to provide appropriate balance of or#.

3rganization need to provide training opportunities to employees.

3rganization need to provide career advancement opportunities to employees.

3rganization need to provide appropriate resources in or# environment.

3rganization should facilitate an opportunity in ta#ing employees expectations

into consideration.


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To recognize the employees by management for their achievements.

Management need to adopt motivational aspects to satisfy maximum employees.

C)&,+5)&

The organization has to facilitate the employees ith better

challenging or# so that they can retain them in their organization.

$y careful planning and implementation of motivational and

personality development programmes the organization can retain

valuable employees.

!n organization every recruiter and manager should be concerned ith

retention from the start of any recruiting program.

Hiring top7performing and enthusiastic employees re%uires a certain

#nac#. $ut #eeping those employees in an art.

Ma#ing the ne employee aare that the intention is to #eep them as

long as possible encourages the employee in committing to long term

goals and planning ithin the organization.


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BIBLIOGRAPHY

ersonal and human resource management

Himalaya publishing house 7 . /$$0 R03

Human resource and personal management

7 J. 0:0TH00

Human resource management

7 Mirza s saiyadain

Human resource management

76assler

.citehr.com

.google.com

.futuregroup.com

.as#.com


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A..#R#

#"T34..A3R#

.ame5

esignation5 ualification5

7777777777777777777777777777777777777777777777777777777777777777

$%& have you chosen to remain employed ith the Nirmal bang securities?

Career advancement opportunitiesChallenging or!"alary#mployee $enefitsess travel

"upervision&management4ther 7777777777777777777777777777777777

PLEASE rate the folloing items regarding your employment ith theNIRMAL BANG SECURITIES?

#)cellent *ood air +oor +ositive or! environment 9relationships: values and culture;

#o$ training and developmental e)periences

4pportunities for advancement

Appropriate resources and eo$

http://www.google.com/http://www.futuregroup.com/http://www.futuregroup.com/http://www.ask.com/http://www.citehr.com/http://www.google.com/http://www.futuregroup.com/http://www.ask.com/


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PLEASE rate the folloing statements regarding supervisionreceived5

Alays sually "ometimes .ever "ets clear goals&performance e)pectations

istri$utes or!load eo$

Recognizes employees for their achievements

?elcomes suggestions and encourages feed$ac!

3s accessi$le&approacha$le Addresses pro$lems promptly

3s trustorthy

PLEASE rate the folloing statements regarding the leadership of theNirmal bang securities?

Alays sually "ometimes .ever

"ets clear goals&o$>ectives for the organization#ncourages cooperation and teamor! among staff

,alues employee contri$utions

@a!es an effort to hear employee concerns

3s responsive to !non employee concerns

#ncourages open communication

Treats employees ith respect

$%AT do you en>oy most a$out or!ing ith the Nirmal bang securities?

$%AT has $een your greatest challenge or!ing here


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$O'L( you recommend the job to your friend at .irmal $angsecurities

Bes.o

IF you left the >o$ ould you live re>oin future group?

Bes.o

>@


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Employee Retention- Nirmal Bang

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