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A COMPREHENSIVE PROJECT REPORT ON A study on existing employee retention practices at chemical industry in dahej Submitted to SHRI MANILAL KADAKIA COLLEGE OF MANAGEMENT & COMPUTER STUDIES, HANSOTROAD, ANKLESHWAR. IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION IN GUJARAT TECHNOLOGICAL UNIVERSITY UNDER THE GUIDANCE OF Faculty Guide Ms. Rashmi Ghamawala Ms. Hetal panseriya HR Faculty, KIMCOS. Submitted By Navrang Vasava [Batch 2010-2012, Enroll. No: 107710592014] MBA SEMESTER III/IV KIMCOS MBA PROGRAMME Affiliated to Gujarat Technological University Ahmadabad May-2012 Company Guide

Declaration1

I , NAVRANG VASAVA hereby declare that the report for Comprehensive Project entitled A STUDY ON EXISTING EMPLOYEE RETENTION PRACTISES is a result of our own work and our indebtedness to other work publications, references, if any, have been duly acknowledged. Place: Date NAVRANG VASAVA (Signature)

ACKNOWLEDGEMENT2

It gives us great ecstasy of pleasure to convey our deep and sincere thanks to our Mr. Nimesh Joshi (I/C Director) for his kind support, which helped us to complete the project successfully. We have great pleasure in expressing our sincere gratitude and hearty thanks to our beloved Faculty, Ms. Rashmi Ghamawala, Ms. Hetal Panseriya(HR FACULTY). For consenting to be our guide. She had been a great source of encouragement and inspired us throughout our project. thankful to her for everything she has done for us. We are greatly

YOURS SINCERELY, NAVRANG VASAVA

TABLE OF CONTENTS3

SR. NO. 1.

PARTICULARS PART I GENERAL INFORMATION 1.1 About the Chemical Industry 1.2 Overview of World Chemical Industry 1.3 Overview of Indian / Gujarat Chemical Industry 1.4 Overview of Gujarat Chemical Industry About major Companies in the Industry Product Profile (Major Products) PART II PRIMARY STUDY Introduction of the Study 4.1 Literature Review 4.2 Background of the Study 4.3 Problem Statement 4.4 Objectives of the Study Research Methodology 5.1 Research Design 5.2 Sources of Data 5.3 Data Collection Method 5.4 Population 5.5 Sampling Method 5.6 Sampling Frame 5.7 Data Analysis

PAGE NO 5 8 11 14 15 22 26 26 33 36 36 37 37 37 38 38 38 38 38

2 3 4

5

PART-1 GENERAL INFORMATION ABOUT THE CHEMICAL INDUSTRYIn the 1830s and 1840s, the British had the world's dominant chemical industry, which was focused on production of inorganic chemicals. Inorganic4

compounds are those taken from the earth, such as salt and minerals, and processed into useful products employed directly or used in further processing. One leading set of products is the alkalis, such as lime, soda ash, and caustic soda, used extensively in textiles, glass making, fertilizers, etc.; another includes acids such as sulfuric and nitric, which are often used in tanning, textiles, dyeing, and a myriad other applications. Alkalis and sulfuric acid produced in large quantities are commonly referred to as heavy chemicals. Currently, organic chemicals such as ethylene, benzene, and propylene, which are produced in large quantities, are more typical examples of heavy chemicals. [1] The early version of the inorganic chemical industry was in some sense closer to mining than the science-based chemistry of today. Perkin's discovery in 1856 launched the modern organic chemical industry. Since then, organic compounds have proved the most important class of chemicals, because they are more varied and pervasive than the inorganic compounds. Organic chemistry begins with inputs that contain hydrocarbons (composed of hydrogen and carbon), e.g., coal, oil, and natural gas, which form the backbone of final organic chemical outputs. In the first stage of processing, these raw materials are refined to produce primary outputs, such as benzene and ethylene. In subsequent processing, chemicals such as chlorine and oxygen are added to the hydrocarbon backbones to give the compounds their desired characteristics. The final output may, for example, be nylon or polyester fiber, a plastic, or a pharmaceutical product. The hydrocarbon backbone for British dyestuffs, and for organic chemistry throughout almost all of the nineteenth century, was provided by coal. [1]

Britain dominated the dyestuff industry until the 1870s. These were glory times for England. The nation was rich. Its organic chemical industry making dyestuffs had the technical know-how, the largest supply of basic raw material (coal), and the largest customer base (textiles). But those advantages slipped away, and by the end of the 1880s the Germans dominated the organic5

chemical industry. By 1913, German companies produced about 140,000 tons of dyes, Switzerland produced 10,000 tons, and Britain only 4,400 tons. The American industry was a large producer of basic inorganic, chemicals, but for its organic chemicals it depended mainly on German dyestuff and other imports, except for domestic production of explosives. [1] World War I changed the relative positions of nations in the chemical industry, at least for a few years. The United States was cut off from German dyestuffs and built its own organic chemical industry. The German industry, shattered by war, fell on hard times. Both Britain and Germany sought to create chemical companies that could be national standard bearers. In 1925, Germany formed the IG Farben company, merging all dye firms into one company. Britain created Imperial Chemical Industries (ICI) through a merger of smaller entities in 1926. In the U.S. a number of consolidations took place among private companies, forming such large and competitive entities as DuPont, Union Carbide. Allied Chemical, and American Cyanamid. IG Farben soon regained Germany's former dominance over the European chemical industry and formed numerous cartels to prop up prices and limit competition. At the same time, the U.S. chemical industry was gaining strength through the development of a large petroleum refining base, and also building its skill in designing large-scale continuous processing plants through the use of expert chemical engineering tools (Landau 1997 ). [1] World War II resulted in the physical destruction of a significant portion of the German chemical industry. The U.S. industry was now using petrochemicals to produce fibers, plastics, and many other products, while dyestuffs shrank in importance. America's chemical industry grew enormously and dominated the market at least until the 1970s. However, as world prosperity returned in the decades after World War II, so did a successful chemical industry in Germany, and in Europe more generally. Advantage at the firm level truly came to the fore, with different companies in different countries excelling at particular skills or products and trading extensively with one another. Japan was an exception. Although the Japanese chemical industry grew to become the second largest in the world by providing inputs for Japan's home market, it6

has not vet become a major player in international markets for products or technology. Note that the underlying science has been generally available for a long time; science in itself conveys no contribution to national wealth; only its commercialization by risk-taking investments will produce increases in productivity and the standard of living. [1] http://findarticles.com/p/articles/mi_m1094/is_4_34/ai_56973853/pg_3/? tag=content;col1[1]

1.1 GLOBAL CHEMICAL INDUSTRYOVERVIEW

Chemicals are essential to millions of consumer goods, enabling hi-tech advances in industries as diverse7

as

aerospace,

computing

and

telecommunications. The chemical industry comprises companies engaged in

the conversion of raw materials oil, natural gas, air, water, metals -- that are then used to make a wide variety of consumer goods, as well as inputs for agriculture, manufacturing and construction industry. [2] Globally, the chemical industry is mainly concentrated in three areas of the world: Western Europe, North America and Japan. The European community is the largest producer, followed by the U.S. and Japan. The chemical industry, one of the largest. [2] The U.S. chemical industry operates through 170 major chemical companies with international operations spanning more than 2,800 facilities outside the U.S. and 1,700 foreign subsidiaries or affiliates. The sector generates an annual chemical output worth $400 billion. The U.S. industry records large trade surpluses and employs around a million people. It is also the second largest consumer of energy in the manufacturing sector. [2] OUTLOOK

The recession had hit the chemical industry hard. Shying from a lack of demand, chemical companies shelved their growth strategies. With plants idled or running at historically low rates, the companies looked for avenues to streamline operations and increase productivity. Accordingly, they resorted to restructurings, plant closures, and layoffs. Cost-cutting initiatives at industrial majors -- The Dow Chemical Company (DOW) and EI DuPont de Nemours & Co. (DD) [2]

The global chemical industry is, however, recovering from the recession-hit lows. Domestically, chemical production volumes have increased across all regions of the United States in 2010, reversing the steep declines experienced in 2008 and 2009. The largest gains have occurred in the Gulf Coast and Ohio Valley regions, boosted by export demand for basic chemicals and plastics. Output is expected to grow moderately in all regions in 2011 and continue to improve through 2012. [2]8

Growth in export markets has been driven by several factors. These include favorable energy costs, resulting from developments in extracting natural gas from shale; and demand from emerging markets, where recovery and expansion have been the strongest. As per the America