EMPLOYEE RETENTION-A CHALLENGE

OBJECTIVE OF THE STUDY

The objective of my study is to understand and critically analysis the Retention strategy of different organization.

To study attrition as the major problem in the present scenario.

To study the effectiveness of the retention practices adopted by different sectors.

To study the reason behind as to why people are leaving the organization.

Draw out measures to reduce employee retention.

RESEARCH METHODOLOGY RESEARCH DESIGN: Descriptive researchHistorical ResearchCasual Comparative

SOURCES OF DATA COLLECTION:Secondary Data: Secondary data already exists and were collected for some other purpose were proved to be useful in structuring the questions to be asked for collecting primary data.

By going through various recordsBy going through magazines of companyWebsite of the companies

Tools and Techniques :Graphical analysis

Sampling Design: Sample size is 3.It includes Big Bazaar, LG and Wipro.

1. Attrition rateIn, Wipro attrition rate is 20.3%, in Big Bazaar attrition rate is 25% and in Lg attrition rate is 10%.Figure : Bar Graph Showing attrition rate of Wipro, Big Bazaar and LG

2. Main reason for attritionIn Wipro, Training and development- 80% is the main reason, in Big Bazaar- stress from overwork- 65% is the main reason and in LG- Pay and benefit -60% is the main reason for attrition.Figure : Bar Graph Showing main reason for attrition in Wipro, Big Bazaar and LG

3. Retention strategy of job satisfactionIn Wipro, Retention strategy of job satisfaction is 5%, in Big Bazaar 8.3% and in LG 6.2%.Figure : Bar Graph Showing retention strategy of job satisfaction in Wipro, Big Bazaar and LG

4. Retention strategy of work environmentIn Wipro, Retention strategy of work environment is 4%, in Big Bazaar- is 6% and in LG is 5%.Figure : Bar Graph Showing retention strategy of work environment in Wipro, Big Bazaar and LG

5. Retention strategy of Training and DevelopmentIn Wipro, Retention strategy of training and development is 17% , in Big Bazaar is 12.3% and LG is 8.4%.Figure : Bar Graph Showing retention strategy of Training and development in Wipro, Big Bazaar and LG

FINDINGS Attrition rate of Big Bazaar is 25%, Wipro is 20.3% and LG is 10%. Big Bazaar has more attrition rate.

Main reason for attrition in Big Bazaar is Stress, in Wipro is Training and Development and in LG is Pay and Benefit.

In respect of Retention strategy of job satisfaction , 8.3% of employees of Big Bazaar are satisfied , in Wipro 5% of employees are satisfied and in LG 6.2% of employees are satisfied.

In respect of Retention strategy of work environment, 6% of employees of Big Bazaar are satisfied , in Wipro 4% of employees are satisfied and in LG 5% of employees are satisfied.

In respect of Retention strategy of Training and Development, 12.3% of employees of Big Bazaar are satisfied , in Wipro 17% of employees are satisfied and in LG 8.4% of employees are satisfied.

CONCLUSIONRetention is an important concept that has been receiving considerable attention from academicians, researchers and practicing HR managers.

Motivated employees come out with new ways of doing jobs. They are quality oriented. They are more productive.

Types of environment the employee needs in an organization.

Learning environment Support environment Work environment Work profile Personal growth and dreams Training and development

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