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INTRODUCTION

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INTRODUCTION

Employee turnover is one of the largest though widely unknown costs an organization

faces. While companies routinely keep track of various costs such as supplies and

payroll, few take into consideration how much employee turnover will cost them:

Ernst & Young estimates it costs approximately $120,000 to replace 10 professionals.

According to research done by Sibson & Company, to recoup the cost of losing just

one employee a fast food restaurant must sell 7,613 combo meals at $2.50 each.

Employee turnover costs companies 30 to 50% of the annual salary of entry-level

employees, 150% of middle-level employees, and up to 400% for upper level,

specialized employees. Now that so much is being done by organizations to retain its

employees.

Why is retention so important? Is it just to reduce the turn over costs ?

Well, the answer is a definite no. Its not only the cost incurred by a company that

emphasizes the need of retaining employees but also the need to retain talented

employees from getting poached.

Retention involves five major things:

Compensation

Environment

Growth

Relationship

Support

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Compensation:

Compensation constitutes the largest part of the employee retention process. The

employees always have high expectations regarding their compensation packages.

Salary and monthly wage: It is the biggest component of the compensation

package. It is also the most common factor of comparison among employees.

It includes

Basic wage

House rent allowance

Dearness allowance

City compensatory allowance

Health insurance: Health insurance is a great benefit to the employees. It

saves employees money as well as gives them a peace of mind that they have

somebody to take care of them in bad times. It also shows the employee that

the

organization cares about the employee and its family.

After retirement: It includes payments that an Employee gets after he retires

like EPF (Employee Provident Fund) etc.

Miscellaneous compensation: It may include employee assistance programs

(like psychological counselling, legal assistance etc), discounts on company

products, use of a company cars, etc.

Employers And Their Key Drivers To Attract And Retain Talent Employers

Key Drives To Attract And Retain Talent

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Environment:

It is not about managing retention. It is about managing people. If an organization

manages people well, employee retention will take care of itself. Organizations should

focus on managing the work environment to make better use of the available human

assets. People want to work for an organization which provides

Appreciation for the work done

Ample opportunities to grow

A friendly and cooperative environment

A feeling that the organization is second home to the employee Organization

environment includes

Culture

Values

Company reputation

Quality of people in the organization

Employee development and career growth

Risk taking

Leading technologies

Trust

Types of environment the employee needs in an organization

Learning environment: It includes continuous learning and improvement of

the individual, certifications and provision for higher studies, etc.

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Support environment: Organization can provide support in the form of work-

life balance. Work life balance includes:

Flexible hours

Telecommuting

Dependent care

Alternate work schedules

Vacations

Wellness

Work environment: It includes efficient managers, supportive co-workers,

challenging work, involvement in decision-making, clarity of work and

responsibilities, and recognition. Lack or absence of such environment pushes

employees to look for new opportunities. The environment should be such that

the employee feels connected to the organization in every respect.

Growth and Career Growth and development are the integral part of every

individuals career. If an employee can not foresee his path of career

development in his current organization, there are chances that hell leave the

organization as soon as he gets an opportunity. The important factors in

employee growth that an employee looks for himself are:

Work profile: The work profile on which the employee is working should be

in sync with his capabilities. The profile should not be too low or too high.

Personal growth and dreams: Employees responsibilities in the organization

should help him achieve his personal goals also. Organizations can not keep

aside the individual goals of employees and foster organizations goals.

Employees priority is to work for themselves and later on comes the

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organization. If hes not satisfied with his growth, hell not be able to

contribute in organization growth.

Training and development: Employees should be trained and given chance

to improve and enhance their skills. Many employers fear that if the

employees are well rained, theyll leave the organization for better jobs.

Organization should not limit the resources on which organizations success

depends. These trainings can be given toimprove many skills like:

Communications skills

Technical skills

In-house processes and procedures improvement related skills or customer

satisfaction related skills

Special project related skills

Importance of Relationship in Employee Retention Program

Sometimes the relationship with 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 work culture and environment in terms of personal

or professional relationships. There are times when an employee starts feeling

bitterness towards the management or peers.

This bitterness could be due to many reasons. This decreases employees interest and

he becomes demotivated. It leads to less satisfaction and eventually attrition. A

supportive work culture helps grow employee professionally and boosts employee

satisfaction. To enhance good professional relationships at work, the management

should keep the following points in mind.

Respect for the individual: Respect for the individual is the must in the organization.

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Relationship with the immediate manager: A manger plays the role of a

mentor and a coach. He designs and plans work for each employee. It is his

duty to involve the employee in the processes of the organization. So an

organization should hire managers who can make and maintain good relations

with their subordinates.

Relationship with colleagues: Promote team work, not only among teams but

in different departments as well. This will induce competition as well as

improve the Relationship among colleagues.

Recruit whole heartedly: An employee should be recruited if there is a

proper place and duties for him to perform. Otherwise hell feel useless and

will be dissatisfied.

Employees should know what the organization expects from them and what their

expectation from the organization is. Deliver what is promised. Promote anemployee

based culture: The employee should know that the organization is there to support

him at the time of need. Show them that the organization cares and hell show the

same for the organization. An employee based culture may include decision making

authority, availability of resources, open door policy, etc.

Individual development: Taking proper care of employees includes

acknowledgement to the employees dreams and personal goals. Create

opportunities for their career growth by providing mentorship programs,

certifications, educational courses, etc.

Induce loyalty: Organizations should be loyal as well as they should promote

loyalty in the employees too. Try to make the current employees stay instead

of recruiting new ones.

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Support Lack of support from management can sometimes serve as a reason for

employee retention. Supervisor should support his subordinates in a way 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 work but also through the times of

personal crisis. Management can support employees by providing them recognition

and appreciation. Employers can also provide valuable feedback to employees and

make them feel valued to the organization.

The feedback from supervisor helps the employee to feel more responsible, confident

and empowered. Top management can also support its employees in their personal

crisis by providing personal loans during emergencies, childcare services, employee

assistance Programs, conseling services, etc

Employers 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 ways as follows:

By providing feedback

By giving recognition and rewards

By counseling them

By providing emotional support

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OBJECTIVE OF THE

STUDY

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OBJECTIVE OF THE STUDY

The main objective of doing this study was to understand the nature of work,

employment, and labour relationships in service sector and its impact on workers.

This effort aims at identifying and exploring the shared interests to counter the

preexisting belief that employees (the human resource) and the human resource

management bodies in both the developing and developed world are divided.

One of the biggest challenges companies are facing is the attraction and retention of

good employees and top performers. The purpose of this project study was also to

prove how employee retention is essential in this day and age, and if the organizations

are not awake to the situation and immediate actions are not taken to that effect, what

repercussions lay ahead and how they would affect the organization and the industry.

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SCOPE OF THE STUDY

SCOPE OF THE STUDY

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The scope of the study to know the employee retention in an organization /

Service Sector

Need for such project report can be recognized from individual performance

reviews, individual meetings, employee satisfaction surveys and by being in

constant touch with the employees.

To know the behaviour of the employee in the service sector.

What are the expectations of the employee in the service sector.

Why the attrition rate is increasing.

What are the factors forcing the employees to leave the organisation/service

sector.

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LITERATURE REVIEW

LITERATURE REVIEW

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EMPLOYEES SATISFACTION REGARDING MONETARY BENEFITS

PROVIDED BY THE COMPANY.

Retention Management:

Background: 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 the leader plays a key role in employee retention and retention

management. The concept of retention management can both have a narrow, and a

broader significance. Both parts of its significance are generally included in this

thesis. The background of the thesis present a few articles that discuss issues that

makes it important for the organization, and the leaders, to work hard with retention

management. The research is based on the leaders in the Finnish case company

Tradeka. 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 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 retain

employees. The purpose is to compare the qualitative study, made at the case

company, with findings from the thesis theoretical framework.

Employee Retention Strategies

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The basic practices which should be kept in mind in the employee 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.

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 messages from top management

Periodic days off for good performance

Rewards ( gift, certificates, monetary and non monetary rewards)

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Recognizing professional as well as personal significant events

Wedding gifts

Anniversary gifts

New born baby gifts

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

Discounts in cinema halls, museums, restaurants, etc.

Retail store discounts

Computer peripherals purchase discounts

Providing workplace conveniences

On-site ATM

On-site facilities for which cost is paid by employees

laundry facility for bachelors

Shipping services

Assistance with tax calculations and submission of forms

Financial planning assistance

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Casual dress policies

Facilities for expectant mothers

Parking

Parenting guide

Lactation rooms

Flexi timings

Fun at work

Celebrate birthdays, anniversaries, retirements, promotions, etc

Holiday parties and holiday gift certificates

Occasional parties like diwali, holi, dushera, etc

Organize get together for watching football, hockey, cricket matches

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

Handwriting analysis

Tatoo, mehandi, hair braiding stalls on weekends

Mini cricket in office

Ice cream Fridays

Holi-Day breakfast

Employee support in tough time or personal crisis

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Personal loans for emergencies

Childcare and eldercare services

Employee Assistance Programs ( Counseling sessions etc)

Emergency childcare services

Medium Level Strategies for Employee Retention

Appreciating and recognizing a well done job

Special bonus for successfully completing firm-sponsored certifications

Benefit programs for family support

Child adoption benefits

Flexible benefits

Dependents care assistance

Medical care reimbursement

Providing conveniences at workplace

Gymnasiums

Athletic membership program

Providing training and development and personal growth opportunities

Sabbatical programs

Professional skills development

Individualized career guidance

High Level Strategies

Promoting Work/Life Effectiveness

Develop flexible schedules

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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

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 counselling

Offer personalized career guidance to employees

Provide an environment of trust: Communication is the most important and

effective way to develop trust.

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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 joinees 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. They are 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

In todays fast paced business environments where employees are constantly striving

to achieve business goals under time restrictions; open minded and transparent work

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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 the middle 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. It induces responsibility among employees and accountability towards other

peers, which gradually builds up trust and pride. More importantly, transparency in

work environment discourages work-politics which often hinders company goals as

employees start to advance their personal objectives at the expense of development of

The company as a single entity.

.

Quality Of Work

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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.

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 at work.

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 active involvement in

group working arrangements or problem solving that are of mutual benefit to

employees or employers, based on labor management cooperation.

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People also conceive of QWL as a set of methods, such as autonomous work groups,

job enrichment, and 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 company's competitiveness. Common beliefs support

the contention that QWL will positively nurture a more 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

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advance and implemented when the times 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 the

benefit 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 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.

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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 productivity level. 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.

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Positive feedback leads to employee retention and Retention.

It helps in identifying performance areas that need improvement and specific

ways to improve them. It acts as an opportunity to enhance performance by

identifying resources for skill development. It is an opportunity for managers

and employees to assess and identify career and advancement opportunities. It

helps employees to understand the effectiveness of their performance and

contributes to their overall knowledge about the work Managers have

tendency to ignore good performances of their employees. Providing no

feedback may demotivate employees and may lead to employee absenteeism.

Input from managers side is necessary as it help employees to improve their

performance and increase productivity.

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 to

employee 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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COMPANY PROFILE

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COMPANY PROFILE

Shri Venkateshwara University is the outcome of the dream of a visionary who had a

desire to create an education system where even a deprived background student will

get equal opportunity and motivation to learn and receive education in order to

become an achiever par excellence.

The dreamer, our Founder Chancellor, Shri Sudhir Giri, an Engineer by profession, a

down to earth person with human values by childhood and family experience, an

achiever and leader, an educational entrepreneur, knows how to translate his dream to

reality. He analyzed and observed very keenly the changing global scenario and its

demand on education system especially the applied sciences, including management

and technical education. With this in mind, a world class facility had been created in

Gajraula to develop products to be the most integrated and well tuned professionals,

technocrats who will serve the society with dedication, value and proper mindset.

Shri Venkateshwara University is strongly wedded to orienting education capable of

meeting the rapidly changing needs and challenges of the universe at large and of

India in particular. The University education is an organized attempt to help people

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become intelligent, self reliant, able to face real life situation and have an economic

and ethical relevance to the society. We at Shri Venkateshwara University evolved

and adopted the teaching programs, requiring the students to undergo the rigor of the

professional world in forms as well as in substance providing them an opportunity to

apply their class-room knowledge to live situations. Thus, to build the long needed

bridge between the professional world and the educational world.

DUAL DEGREE PROGRAM (INTEGRATED PROGRAM):

One of the most popular flexibilities provided in the University's Educational

structures is the dual degree integrated programs. Under the scheme, it is possible for

a student to work for and complete concurrently two programs within a reasonable

period of time (normally one year is saved). We have introduced some value aided

programs and also the course structure has been designed in a way where a student

can earn while learning.

ABOUT JP NAGAR

HISTORY

The District has been the part of Moradabad in the past which was a part of 'Sarkar of

Sambhal' of Delhi Province during the Akbar regime.

ORIGIN

District Jyotiba Phule Nagarlies in the west of Moradabad District adjoining Meerut,

Ghaziabad & Buland Shahar. The district came into being on 24th April 1997 in the

memory of famous social reformer Sant Mahatama Jyotiba Phule by combining

Amroha, Dhanora & Hasanpur Tehsils of Moradabad district vide UP Gazette no.

1071/1-5-97/224/sa-5 dated 15/4/1997 whose head-office is situated in the ancient

city Amroha.

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AREA & GEOGRAPHY

The district consists of 1133 villages, 3 Tehsils, 6 Blocks & 11 Police Stations. Its

geographical area is 2470 Sq. Km. It extends from Latitude 28 54' North to 39 6'

North and Longitude 78 28' East to 78 39' East. The maximum & minimum heights

from sea level are 240ft. & 177ft. respectively. In the north of the district lies district

Bijnore, Tehsil Sambhal of Moradabad is in the south; Tehsil Sadar of Moradabad is

in the east and in the west are situated districts Meerut, Ghaziabad & Buland Shahar.

Ganga river separates it from district Ghaziabad, Meerut & Buland Shahar.

Moradabad is a hub of commercial activities and is called "Brass City". There are

several hundred of units engaged in the manufacturing and export of Brass Products.

Average annual export of Brass and handicraft items from Moradabad is estimated to

be worth 3000 crores, which constitutes 40% of the total export from India in their

category. Amraha is a historical city with Mazars, Masjids, Temples and Gates as old

as 1325 AD-1351 AD.

ABOUT GAJRAULA

Gajraula is situated on National Highway 24, 53 km. away from Moradabad & 100

Km. from Delhi. It has been developed as an important industrial city. Many large &

medium scale industries are established here, to name some are Vam Organics,

Chaddha Rubber, Shivalik Cellolose of Hindustan Lever, Jubiliant Life Sciences,

INSILCO, Coral Newsprint, EOU, Raunaq Automobiles, and the list goes on.

The University is surrounded by industrial towns like Moradabad, Rudrapur,

Hardwar, Roorkee, Meerut, Kashipur, Noida, Ghaziabad and Delhi, providing a

wealth of opportunities to the graduating students to get trained and absorbed both in

Indian and Multinational companies.

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ACADEMIC ADVISORY BODY

1. Dr. Binod Kumar

Vice Chancellor , Shri Venkateshwara University, Gajraula

Former Professor ,IIM Calcutta, Director IMT, Ghaziabad

2. Dr. Ashish Banarjee

Prof. & Head of Marketing, IIM Calcutta

3. Prof.(Dr.) S.P. Sabberwal

Former Director, Energy Center, IIT Delhi

4. Prof( Dr. ) A K Raghav

Former Dean(IRD), IIT Delhi

5. Prof. (Dr.)Binita Srivastava

Prof. & Head of Paedodontistry Santosh Medical College,

Ghaziabad

6. Dr. Ashok Agarwal

Former Professor ,IIM Calcutta and Former CMD, SQL Star International,

Professor (Adjunct) BITS, Piliani.

7. Dr. (Prof.) Nand Kumar

All India Institute of Medical Sciences, New Delhi

8. Dr. S.C Sharma

Registrar, Shri Venkateshwara University, Gajraula

9. Dr. Sunita Saxena

Director, ICMR (Indian Council for Medical Research)

Safdarjung Hospital Campus, New Delhi

10. Dr. S.R. Sen Gupta

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CMD, QUEST HR SDN., BHD, Kualalumpur Malaysia

11. Dr. Piyush M. Sinha

Chief Technical Manager, Portland Oregon USA

12. Prof. Jagdish Kapur

Ex Prof. & Head, IIPA , New Delhi

13. Mr. Hemant Sharma

Director, India T.V.

14. Mr. Anup Srivastava

Director, HR, Air India

15. Dr. Abhay Kumar Srivastava

Head, Disaster Management,

Haryana Institute of Public Administration, Gurgaon

16. Sh. Mayank Manshingh

Director, India T.V.

17. Mr. Ajay Anand

IPS

18. Prof.( Dr.) N.K.Sinha

CEO, Venkateshwarta Group of Institutions,Meerut

MISSION & VISION

MISSION

To create a world class academic system with best infrastructure and learning

resources in order to produce global level achievers.

To facilitate integration and tuning of personal excellence among our pupils that will

be demonstrated through their balanced personality, adjustability under all conditions,

creativity, dedication, passion for learning, value orientation and foresight.

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Development of high standard of professionalism among our products with global

vision and managerial leadership to build and lead a winning team.

To organize national and international seminars for sharing of knowledge and also

meaningful understanding and networking among schools and scholars.

To facilitate research of high quality and publication of standard Books & Journals.

To inculcate passion among the university community including students to apply

knowledge for the development & growth of community, society & mankind as a

whole.

VISION

To be a recognized as a centre of academic excellence imparting quality education,

producing research of high standard and developing talents with balance of personal

and professional excellence.

CLASSROOMS & TUTORIALS

Class Rooms & Tutorials at Shri Venkateshwara University are spacious, airy and

well ventilated. They are designed in a manner that even when there is a power

failure, the student and the teacher will not feel any type of discomfort as the flow of

natural light will provide enough light to continue with their teaching activities. The

furniture is designed keeping in view the comfort and the necessities of the students.

The class rooms are equipped with modern teaching aids such as Over Head

Projector, LCD projector, Magnetic Boards, Power Presentation Techniques (PPT),

Public Address System etc.

LABORATORIES

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School of Hospitality Management. Arrangements have already been made to

establish modular kitchen, restaurant, flower room, service room, guest room and

front office.

School of Journalism and Mass Communication. Three studios have been planned

with latest cameras and other equipment for imparting print and electronic media

techniques to the students.

School of Management and School of Computer Science. Dedicated Computer labs

have been set up. In addition to these, dedicated computer labs, common computer

labs have also been planned for other schools. Computer Laboratories include

Artificial Intelligence, Operating System, Graphics Multimedia, Networking, Visual

Studio Dot Net, Advanced Java, Database, Mobile Computing and Advance

Computer Network.

The Computer laboratories have a large number of P-4 IBM, HCL, HP, DELL,

Lenovo machines with high-resolution color TFTs, Scanners, Printers, CD/DVD

writers, CISCO switches, Hubs and UPS. Each Laboratory is networked through an

appropriate IBM server. The Centre is equipped with 24 Mbps leased-line-based

Internet facility, workstations running Microsoft Windows Vista, Windows7 and XP.

The University is recruiting well-qualified and experienced technical staff with all

resources to develop the technical skills of the students in all fields.

Shri Venkateshwara University has a well-stocked and fully computerized multimedia

library for the various schools. To ignite the intellectual spirit in young minds, a stock

of about 25,000 latest books, large collection of video/audio CDs, Magazines,

Journals, industry and company information sources are made available to the

students, faculty and staff. The University also has school-wise libraries to provide

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adequate support for complete academic pursuit. Additionally, separate reference

section for each school with recommended books for each course have also been

provided.

The very purpose of the Library is to support and supplement teaching, learning and

research in the University by developing and promoting access to relevant and useful

information resources. It is also to contribute to the wider section of the world with

the transfer of knowledge by collaborating and cooperating with other organizations.

We give access to information of the world and can help the university community at

large, to develop a mindset and make the most of it. The timings of the library are

extended during the examination periods to cater to the needs of the students.

Major features of the Libraries include:

A rich collection of Reference & Text Books

Large collection of National & International Journals

Spacious & Airy Reading Halls

Separate reading room for Researchers & Teachers

Computerized Library Management System

Audio-Visual Library Section

Career Guidance Section

Magazines and Periodicals Section

Easy operation through automated library procedures and Bar Code system

Digital Library to provide access to e-Journals, to download desired

materials

Photocopy facilities

Small team discussion center

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Therefore, our Library can be redefined as a place where students can get unrestricted

access to information in many formats and from many sources. It extends beyond the

physical walls of a building by including material accessible by electronic means and

by providing the assistance of librarians in navigating and analyzing tremendous

amounts of knowledge with a variety of digital tools as well as manually.

HOSTEL

Separate hostel facility has been created for men and women keeping in view the need

of discipline, security and comfort. Shri Venkateshwara University provides

immaculate hostel rooms for both men and women. A high level of hygiene is

observed in the campus.

We strive to provide the best facilities to hostellers. Uninterrupted power and water

supply is in the hostel rooms. 24 hours security is deployed on the campus to ensure

the safety of the students. High standard of discipline is also ensured on the campus.

Hot water is supplied during the winter. Water coolers are attached with R.O. installed

on each floor.

Single, Double, Three and Four students are accommodated in a room depending on

its size. Common rooms in every hostel are equipped with modern recreational

activity equipments.

SPORTS

We believe that a healthy body is a healthy mind. We have the required infrastructure

for the various outdoor sports. Students are encouraged to take part in sports so that

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they imbibe various attributes that are helpful in life. It allows the individuals to make

constructive use of their leisure time.

A fully air conditioned gym on the campus with all the latest equipment's are a matter

of envy. We have the luxury of providing personal coaches for students who aspire to

become future body builders. It is pleasing to see the students staying fit in their

journey of life. We would like to have our own team of builders to represent us in

various events.

CAFETERIA

A cafeteria is a place where students come to hangout and relax between lectures. We

believe that a student must enjoy his/her social life as much as he/she enjoys his/her

academic life. We offer a lavish menu to cater to the taste buds of the students. The

menu comprises of dishes from across the states. The mouthwatering dishes served at

our cafeteria are prepared maintaining high standards of hygiene and cleanliness. The

sumptuous meals are served round the clock at our cafeteria.

The basic amenities in the college campus are available at a comfortable distance.

Regular supply of drinking water in the campus is ensured.

TRANSPORT

Students should not come across any kind of problem with regard to Transport. For

the purpose, Shri Venkateshwara University has ties with cab and bus services. You

can apply for cab or bus service in the office by submitting an application and we will

notify you about the services we can provide in your respected locality.

OGA

We also touch upon the spiritual aspect of individuals. With the high level of stress

and anxiety prevalent in the lifestyle today, we have highly qualified instructors to

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help cope with same. Mental strength is equally important as is the physical might.

Yoga is important as it helps to remove negative blocks from the mind and toxins

from the body. It also helps in building attention, focus and concentration, especially

in children.

ADMISSION PROCEDURE

Students securing desired merit in the SVU Entrance Examination will be informed of

their selection. These students will then need to report to the University Admissions

office to complete further formalities, deposit required documents and University Fee.

In case a student fails to report for admission on a given date or an extended date,

his/her admission will be cancelled and such a student will not have any right to

admission subsequently.

ADMISSION CRITERIA

Admission in Shri Venkateshwara University will be through Entrance Examinations

conducted online at a several centers across the country. The Entrance Examination

schedule will be notified in the Admission Notification circular. However, for some of

the courses, admission will be merit based. For admission in MBA, GD & PI will also

be conducted in addition to entrance exams.

ADMISSION LEVERAGES

FEE PAYMENT:

Every student is required to make full payment of the requested course fee for

confirmed admission. All admissions will be treated as provisional till the realization

of full fee. Further a student is not eligible to attend classes till the full payment of all

components of the course of SVU fee is paid.

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REFUND OF FEE:

Fee once paid will not be refunded in any case if a student wants to get his/her

admission withdrawn on his/her own reason. However, in case a student is found

ineligible for admission due to certain criteria, fee paid may be refunded after

deducting processing charges.

REFUND OF SECURITY DEPOSIT:

If a student withdraws admission in the middle of the tenure of a course, the security

amount, if any, will be refunded only after the completion of the tenure of the course.

EXAMINATION SYSTEM

Students who fulfill Shri Venkateshwara University's admission eligibility criteria are

allowed to appear in the examinations. Every student needs to attend 75% theory and

practical classes. However, in some exceptional cases (to be notified separately),

relaxations may be granted by the Vice Chancellor.

A student is required to pay full fees and clear all the University dues before granting

permission to appear in the examinations. The detailed pre-requisite guidelines for

appearing in Shri Venkateshwara University conducted exams and promotion are to

be issued separately by the controller of exams. The University has adopted semester

system exams for most of its courses. Each academic year comprises of two

semesters.

SCHOLARSHIPS

To start with, a certain amount of fee waiver is granted in admission to a student

based on the percentage of marks secured by the candidate in the qualifying exams.

The formalities for scholarship to a second year or more student are being worked out.

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SCHOOL OF ENGINEERING AND TECHNOLOGY

B.TECH.

S.

No.

Name of Program Eligibility Duration

1. B.Tech.

Automobile

Engineering (AE)

Aeronautical & Space

Engineering (ASE)

Civil Engineering

(CE)

Mechanical

Engineering (ME)

Electronics &

Communication

Engineering (ECE)

Computer Science

Engineering (CSE)

InformationTechnology (IT)

1. Candidates who have passed 10+2

(intermediate) levels from any Board or its

equivalent from any recognized Board/

University with Mathematics, Physics and

Chemistry / Computer Science/ Bio-

Technology/ Biology can apply.

2. Candidates appearing in 10+2/

intermediate with above combination may

also apply.

3. Merit in AIEEE/ UPSEE 2011-12

4 Years

(8 Semest

B.TECH.(INTEGRATED)

S.

No.


2. B.Tech.(Integrated)

Automobile Engineering

(AE)


Engineering (ASE)

Civil Engineering (CE)

Mechanical Engineering

(ME)

Electronics &

Communication

Engineering (ECE)

1. For admission in First year of B.Tech

(Integrated), a candidate should havepassed High School or 10th from any

Board or its equivalent from any

recognized Board/University. Candidate

is essentially required to pass in each

subject of the qualifying subject group.

2. Compulsory : Science Group

6 Years

(12 Seme

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Computer Science

Engineering (CSE)

Information Technology(IT)

M.TECH.(FULL TIME)

S.

No.


3. M.Tech.(Full Time)


(AE)


Engineering (ASE)

Civil Engineering (CE)

Mechanical Engineering

(ME)

Electronics &

Communication

Engineering (ECE)

Computer Science

Engineering (CSE)

Information Technology

(IT)

1. B. Tech. in relevant field.

2. For CSE/IT B. Tech. CSE/IT, MCA

and M.Sc. in CSE/IT

3.For ECE B. Tech. ECE/EI, M.Sc.

(Electronics)

4. GATE Score or merit based on

percentage of marks secured in the

qualifying examination 2011-12 will be

preferred.

2 Years

(4 Semeste

M. TECH. (PART TIME/ WEEKEND)

S.

No.


4. M. Tech. (Part Time/

Weekend)


(AE)


Engineering (ASE)

Civil Engineering (CE)Mechanical Engineering

1. B. Tech. in relevant field.

2. For CSE/IT B. Tech. CSE/IT, MCA

and M.Sc. in CSE/IT

3.For ECE B. Tech. ECE/EI, M.Sc.

(Electronics)

4. GATE Score or merit based on

2 Years

(4 Semest

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(ME)

Electronics &

CommunicationEngineering (ECE)

Computer Science

Engineering (CSE)

Information Technology

(IT)

percentage of marks secured in the

qualifying examination 2011-12 will be

preferred.

5. Sponsorship or employment certificate

from the employer is essential.

B.TECH. + M.TECH (DUAL DEGREE)

S.

No.


5. B.Tech. + M.Tech

(Dual Degree)

Automobile

Engineering (AE)


Engineering (ASE)

Civil Engineering

(CE)

Mechanical

Engineering (ME)

Electronics &

Communication

Engineering (ECE)

Computer Science

Engineering (CSE)

InformationTechnology (IT)




University with Mathematics, Physics and

Chemistry / Computer Science/ Bio-



intermediate with above combination may

also apply.


5 Years

(10

Semesters

B.TECH. + M.B.A. (DUAL DEGREE)

S.

No.

Name of

Program

Eligibility Duration

6. B.Tech. +

M.B.A.(Dual


(intermediate) levels from any Board or itsequivalent from any recognized Board/ University

4 Years

(8 Semesters)

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Degree) with Mathematics, Physics and Chemistry /

Computer Science/ Bio-Technology/ Biology can

apply.

2. Candidates appearing in 10+2/ intermediate

with above combination may also apply.


SCHOOL OF MANAGEMENT

B.B.A.

S.

No.

Name of

Program


1. B.B.A. 1. Candidates who have passed 10+2 or intermediate

levels from any Board or its equivalent from any

recognized Board/ University with English are

eligible.

2. Candidates appearing in 10+2/ intermediate may

also apply.

3 Years

(6 Semesters)

M.B.A. (FULL TIME)

S.

No.


2. M.B.A. (Full Time)

Finance

HR

International Business

Marketing

Information

Technology

Hospital and

Healthcare

1. Candidates who have passed 10+2 or

intermediate levels from any Board or its


University with English are eligible.


intermediate may also apply.

3. Merit/ Percentile in MAT/ CAT/ XAT/

JMET/ CET/ SNAP Board/ UPCMET/

2 Years

(4 Semesters

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Management

Tourism and

HospitalityEntrepreneurship &

Retail Management

ATMA will be considered.

4. GD/PI

M.B.A. (PART TIME/ WEEKEND/ EXECUTIVE)

S.

No.


3. M.B.A. (Part Time/Weekend/ Executive)

Finance

HR


Marketing

Information

Technology

Hospital and

Healthcare

Management

Tourism and

Hospitality

Entrepreneurship &

Retail Management

1. Candidates who have passed 10+2 orintermediate levels from any Board or its





3. Merit/ Percentile in MAT/ CAT/ XAT/

JMET/ CET/ SNAP Board/ UPCMET/

ATMA will be considered.

4. GD/PI

5. Sponsorship or employment certificate

from the employer is essential.

2 Years(4 Semesters)

B.B.A. + M.B.A. (DUAL DEGREE)

S.No.


4. B.B.A. + M.B.A.

(Dual Degree)

Finance

HR


MarketingInformation


intermediate levels from any Board or its





5 Years

(10

Semesters)

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Technology

Hospital and

HealthcareManagement

Tourism and

Hospitality

Entrepreneurship &

Retail Management

B. COM (PROFESSIONAL) + M.B.A. (DUAL DEGREE)

S.

No.


5. B. Com (Professional)

+ M.B.A. (Dual

Degree)

Finance

HR


Marketing

Information

Technology

Hospital and Healthcare

Management

Tourism and

Hospitality

Entrepreneurship &

Retail Management

1.Candidates who have passed 10+2 or

intermediate levels from any Board or

its equivalent from any recognized

Board/ University with English are

eligible.



5 Years

(10

Semesters)

B.C.A.

S.

No.

Name of

Program


1. B.C.A. 1. Candidates who have passed 10+2 or intermediate

levels from any Board or its equivalent from anyrecognized Board/ University with English are

3 Years

(6 Semesters)

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eligible.

2. Candidates appearing in 10+2/ intermediate mayalso apply.

M.C.A.

S.

No.

Name of

Program


2. M.C.A. 1. Candidates who have obtained Bachelor's degree in

any discipline or equivalent higher qualification withmathematics as a compulsory subject in 10th standard

can apply.

2. Candidates appearing in final year in Bachelor's

degree can also apply.

3. Candidates who have obtained or appeared in final

year of BCA may apply.

3 Years

(6 Semes

B.C.A. + MCA (DUAL DEGREE)

S.

No.

Name of

Program


3. B.C.A. +

M.C.A. (Dual

Degree)




University with English & Math can apply.

2. Candidates appearing in 10+2/intermediate

may also apply.

5 Years

(10

Semesters

SCHOOL OF PHARMACY

B.PHARM.

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S.

No.

Name of

Program


1. B.Pharm. 1. Candidates who have passed or are appearing in

10+2 with Mathematics, Biology and Chemistry/

Computer Science / Bio-Technology can also apply.

4 Years

(8 Semesters

M.PHARM.

S.

No.


2. M.Pharm. 1. Candidates who have passed or are

appearing in 10+2 with Mathematics, Biology

and Chemistry/ Computer Science / Bio-

Technology can also apply.

2 Years

(4 Semesters

SCHOOL OF HOSPITALITY

B.SC.

S.

No.

Name of

Program


1. B.Sc.

Airlines

Tourism &

Hospitality

1. Candidates who have passed or are appearing

in 10+2 or intermediate class can apply.

3 Years

(6 Semester

BHMCT

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S.

No.


2. BHMCT

(Bachelor of Hotel

Management &

Catering

Technology)

1. Candidates who have passed or are

appearing in the 10+2 (intermediate)

levels with Mathematics, Biology and

Chemistry/ Computer Science / Bio-


4 Years

(8 Semesters)

SCHOOL OF JOURNALISM AND MASS COMMUNICATION

B.SC. MULTIMEDIA (ANIMATION AND GRAPHICS)

S.

No.


1. B.Sc. Multimedia

(Animation and

Graphics)

1. Candidates who have passed or are

appearing in 10+2 or intermediate levels can

apply.

3 Years

(6 Semesters

B.J.M.C.

S.

No.

Name of

Program


2. B.J.M.C 1. Candidates who have passed or are appearing

in 10+2 or intermediate levels can apply.

3 Years

(6 Semesters)

PG PROGRAM IN TELEVISION PRODUCTION, DIRECTION &

BROADCAST JOURNALISM

S.

No.


3. Post Graduation Program in

Television Production,

Direction & Broadcast

Journalism

1. Candidates who have passed in

Bachelor Degree from a

recognized University or

equivalent are eligible.

1 Year

(2 Semesters)

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2. Candidate appearing in final

year bachelor degree may also

apply

MASTER PROGRAM IN ADVERTISING, PR AND MARKETING

S.

No.


4. Master Program in

Advertising, PR and

Marketing


Bachelor Degree from a recognized

University or equivalent can apply.

2. Candidates appearing in final year

bachelor degree may also apply.

1 Year

(2 Semesters)

DIPLOMA IN ANIMATION AND SPECIAL EFFECTS

S.

No.


5. Diploma in Animation

and Special Effects


or intermediate class can apply.

2. Candidates appearing in the 10+2

can also apply.

1 Year

(2 Semesters)

DIPLOMA IN TELEVISION PRODUCTION

S.

No.


6. Diploma in Television

Production


intermediate class are eligible.

2. Candidates appearing in the 10+2 can

also apply.

1 Year

(2 Semesters)

EVENT MANAGEMENT & CORPORATE COMMUNICATION

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S.

No.


7. Event Management &

Corporate

Communication


Bachelor Degree from a recognized

University or equivalent can apply.

2. Candidates appearing in final year

bachelor degree may also apply.

6 Months

CERTIFICATE COURSE IN RADIO JOCKEYING

S.

No.


8. Certificate Course

in Radio Jockeying

1. Candidates who have passed in Bachelor

Degree from a recognized University or

equivalent are eligible to apply.

2. Candidates appearing in final year.

6 Months

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EMPLOYEE RETENTION ON SHRI

VENKATESHWARA UNIVERSITY

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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 of thousands

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

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.

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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 you cannot

assure us of the same efficiency from the new employee

What Makes Employee Leave? Employees do not leave an organization without any

significant reason. There are certain circumstances that lead to their leaving the

organization. The most common reasons can be:

Job is not what the employee expected to be: Sometimes the job responsibilities

dont come out to be same as expected by the candidates. Unexpected job

responsibilities lead to job dissatisfaction.

Job and person mismatch: A candidate may be fit to do a certain type of job which

matches his personality. If he is given a job which mismatches his personality, then he

wont be able to perform it well and will try to find out reasons to leave the job.

No growth opportunities: No or less learning and growth opportunities in the current

job will make candidates job and career stagnant.

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Lack of appreciation: If the work is not appreciated by the supervisor, the employee

feels de-motivated and loses interest in job.

Lack of trust and support in co workers, seniors and management: Trust is the

most important factor that is required for an individual to stay in the job. Non-

supportive co workers, seniors and management can make office environment

unfriendly and difficult to work in.

Stress from overwork and work life imbalance: Job stress can lead to work life

imbalance which ultimately many times lead to employee leaving the organization.

Compensation: Better compensation packages being offered by other companies may

attract employees towards themselves.

New job offer: An attractive job offer which an employee thinks is good for him with

respect to job responsibility, compensation, growth and learning etc. can lead an

employee to leave the organization.

Managing Employee Retention:

The task of managing employees can be understood as a three stage process:

1. Identify cost of employee turnover.

2.Understand why employee leave.

3.Implement retention strategies

The organizations should start with identifying the employee turnover rates within a

particular time period and benchmark it with the competitor organizations. This will

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help in assessing the whether the employee retention rates are healthy in the company.

Secondly, the cost of employee turnover can be calculated. According to a survey, on

an average, attrition costs companies 18 months salary for each manager or

professional who leaves, and 6 months pay for each hourly employee who leaves.

This amounts to major organizational and financial stress, considering that one out of

every three employees plans to leave his or her job in the next two years.

Understand why employees leave :

Why employees leave often puzzles top management. Exit interviews are an ideal

way of recording and analyzing the factors that have led employees to leave the

organization. They allow an organization to understand the reasons for leaving and

underlying issues. However employees never provide appropriate response to the

asked questions. So an impartial person should be appointed with whom the

employees feel comfortable in expressing their opinions.

Implement retention strategy :

Once the causes of attrition are found, a strategy is to be implemented so as to

reduce employee turnover. The most effective strategy is to adopt a holistic

approach to dealing with attrition.

An effective retention strategy will seek to ensure:

Attraction and recruitment strategies enable selection of the right candidate for

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each role/organization New employees initial experiences of the organization are

positive Appropriate development opportunities are available to employees, and that

they are kept aware of their likely career path with the organization

The organizations reward strategy reflects the employee drivers

How To Increase Employee Retention Companies have now realized the importance

of retaining their quality workforce. Retaining quality performers contributes to

productivity of the organization and increases morale among employees/ Four basic

factors that play an important role in increasing employee retention include salary and

remuneration, providing recognition, benefits and opportunities for individual growth.

But are they really positively contributing to the retention rates of a company? Basic

salary, these days, hardly reduces turnover. Today, employees look beyond the money

factor.

Retention Bonus

Higher attrition rates within a particular industry have forced companies to use some

innovative strategies to retain employees. Retention Bonus is one of the important

tools that are being used to retain employees. Retention bonus is an incentive paid to

an employee to retain them through a critical business cycle.

Retention bonuses are becoming more common in the corporate world because

companies are going through more transitions like mergers and acquisitions. They

need to give key people an attractive incentive to stay on through these transitions to

ensure productivity. Retention bonuses have proven to be a useful tool in persuading

employees to stay. A retention bonus plan is not a panacea. According to a survey,

non management employees generally receive about 10 percent of their annual

salaries in bonuses, while management and top-level supervisors earn an additional 50

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percent of their annual salaries. While bonuses based on salary percentages are the

generally used, some companies choose to pay a flat figure. In some companies,

bonuses range from 25 percent to 50 percent of annual salary, depending on position,

tenure and other factors. Employees are chosen for retention bonuses based on their

contributions to management and the generation of revenue. Retention bonuses are

generally vary from position to position and are paid in one lump sum at the time of

termination. However, some companies pay in instalments as on when the business

cycle completes. A retention period can run somewhere between six months to three

years. It can also run for a particular project. A project

has its own life span. As long as the project gets completed, the employees who

have worked hard on it are entitled to receive the retention bonus. For example, the

implementation of a system may take 18 months, so a retention bonus will be offered

after 20 months. Although retention bonuses are becoming more common

everywhere, some industries are more likely than others to offer them.

Retail/wholesale companies are the most appropriate to implement stay-pay bonuses,

followed by financial service providers and manufacturing firms.

Companies of all sizes use retention bonus plans to keep knowledge employees

retained in the company. To retain its key senior employees post merger with EDS

Corporation, Mphasis is providing cash component based retention bonus plan for its

employees. This is mainly to retain good employees and provide them a cash

incentive to keep them motivated.

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Hire Right Talent

employee retention starts with recruitment. Early departures arise from the wrong

recruitment process. Here are a few ways to ensure how to hire the right talent for a

particular job. Hire appropriate candidates. Hire candidates who are actually suitable

for the job. For this the employer should understand the job requirements clearly.

Dont hire under qualified or clearly overqualified candidates.

Provide realistic job preview at the time of hiring: Mostly employees leave an

organization because they are given the real picture of their job responsibilities at the

time of joining. Attrition rate can be reduced if a right person is hired for a right job.

Realistic preview of the job responsibilities can be given to the employment seekers

by various methods like discussions, trial periods, internships etc.

Clearly discuss what is expected from the employee: Before joining the

organization, tell the candidate what is expected from him. Setting wrong

expectations or hiding expectations will result in early leaving of employees.

Discuss what the expectations of the employees are: Ask employees what they

expect from the organization. Be realistic. If their requirements can be fulfilled only

then promise them. Or tell them beforehand that their requirements cannot be

fulfilled.

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Dont show them an unrealistic picture Culture fit: Try to judge individuals

capability to adapt to the organizations culture. A drastic change in the culture may

give a culture shock to the candidate.

Referrals: According to the research, referred candidates stay longer with the

organization. There is a fear of hampering the image and reputation of the person who

referred the candidate.

Manager Role in Retention

When asked about why employees leave, low salary comes out to be a common

excuse. However, research has shown that people join companies, but leave because

of what their managers do or dont do. It is seen that managers who respect and value

employees competency, pay attention to their aspirations, assure challenging work,

value the quality of work life and provided chances for learning have loyal and

engaged employees. Therefore, managers and team leaders play an active and vital

role in employee retention.

Managers and team leaders can reduce the attrition levels considerably by creating a

motivating team culture and improving the relationships with team members. This can

be done in a following way:

Creating a Motivating Environment: Team leaders who create motivating

environments are likely to keep their team members together for a longer period of

time. Retention does not necessarily have to come through fun events such as parties,

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celebrations, team outings etc. They can also come through serious events. e.g.

arranging a talk by the VP of Quality on career opportunities in the field of quality.

Employees who look forward to these events and are likely to remain more engaged.

Standing up for the Team: Team leaders are closest to their team members. While

they need to ensure smooth functioning of their teams by implementing management

decisions, they also need to educate their managers about the realities on the ground.

When agents see the team leader standing up for them, they will have one more

reason to stay in the team.

Providing coaching: Everyone wants to be successful in his or her current job.

However, not everyone knows how. Therefore, one of the key responsibilities will be

providing coaching that is intended to improve the performance of employees.

Managers often tend to escape this role by just coaching their employees. However,

coaching is followed by monitoring performance and providing feedback on the same.

Delegation: Many team leaders and managers feel that they are the only people who

can do a particular task or job. Therefore, they do not delegate their jobs as much as

they should. Delegation is a great way to develop competencies.

Extra Responsibility: Giving extra responsibility to employees is another way to get

them engaged with the company. However, just giving the extra responsibility does

not help. The manager must spend good time teaching the employees of how to

manage responsibilities given to them so that they dont feel over burdened.

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Focus on future career: Employees are always concerned about their future career.

A manager should focus on showing employees his career ladder. If an employee sees

that his current job offers a path towards their future career aspirations, then they are

likely to stay longer in the company. Therefore, managers should play the role of

career counsellors as well.

How to Improve Employee Retention?

People want to enjoy their work so make work fun and enjoyable.

Understand that employees need to balance life and work so offer flexible starting

times and core hours. Provide 360 feedback surveys and other questionnaires to foster

open communication. Consider allowing anonymous surveys occasionally so

employees will be more honest and candid with their opinions. Provide opportunities

within the company for career progression and cross-training. Offer attractive,

competitive benefits .

Organizations should target job applications for employees who have characteristics

that fit well with the organizational culture. Upon conducting an interview, seek out

traits, such as loyalty. Also, ask the potential employee what motivates them on the

job. Having more information about the potential employees expectations can help

retain them, should they get hired into the company.

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Rewards and Recognition

Employees want to be recognized for a job well done. Rewards and recognition

respond to this need by validating performance and motivating employees toward

continuous improvement. Rewarding and recognizing people for performance not

only affects the person being recognized, but others in the organization as well.

Through a rewards program, the entire organization can experience the commitment

to excellence. When the reward system is credible, rewards are meaningful; however,

if the reward system is broken, the opposite effect will occur. Employees may feel

that their performance is unrecognized and not valued, or that others in the

organization are rewarded for the wrong behaviours. Unrecognized and no valued

performance can contribute to turnover. Recognition for a job well done fills the

employees' need to receive positive, honest feedback for their efforts.

Need for Rewards and Recognition

Recognition should be part of the organization's culture because it contributes to both

employee satisfaction and retention. Organizations can avoid employee turnover by

rewarding top performers. Rewards are one of the keys to avoiding turnover,

especially if they are immediate, appropriate, and personal. A Harvard University

study concluded that organizations can avoid the disruption caused by employee

turnover by avoiding hiring mistakes and selecting and retaining top performers.

One of the keys to avoiding turnover is to make rewards count. Rewards are to be

immediate, appropriate, and personal. Organizations may want to evaluate whether

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getting a bonus at the end of the year is more or less rewarding than getting smaller,

more frequent payouts. Additionally, a personal note may mean more than a generic

company award. Employees should be asked for input on their most desirable form of

recognition. Use what employees say when it comes time to reward for performance.

Designing a Rewards and and Recognition Solution

In designing a rewards and recognition program, the following guidelines should be

considered.

Rewards should be visible to all members of the organization.

Rewards should be based on well-defined, credible standards that have been

developed using observable achievements.

Rewards should have meaning and value for the recipient.

Rewards can be based on an event (achieving a designated goal) or based on a

time frame (performing well over a specific time period).

Rewards that are spontaneous (sometimes called on-the-spot awards) are also

highly motivating and should also use a set criteria and standard to maintain

credibility and meaning.

Rewards should be achievable and not out of reach by employees.

Nonmonetary rewards, if used, should be valued by the individual. For

example, an avid camper might be given a 10-day pass to a campsite, or, if an

individual enjoys physical activity, that employee might be given a spa

membership. The nonmonetary rewards are best received when they are

thoughtfully prepared and of highest quality. Professionalism in presenting the

reward is also interpreted as worthwhile recognition.

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Rewards should be appropriate to the level of accomplishment received. A cash award

of $50 would be inappropriate for someone who just recommended a process that

saved the organization a million dollars. Determining the amount of money given is a

delicate matter of organizational debate in which organizational history, financial

parameters, and desired results are all factors. Recognition for a job well done can be

just as valued and appreciated as monetary awards. Formal recognition program can

be used with success. First Data Resources, a data processing services company that

employees more than 6,000 individuals in Omaha, Nebraska, uses a formal

recognition program (Adams, Mahaffey, and Rick,2002). Rewards are given on a

monthly, quarterly, and yearly basis, and range from Nebraska football tickets, gift

certificates, pens, plaques, mugs, and other items.

One of the most popular awards at First Data is called the "Fat Cat Award" that

consists of: $500 gift check Professional portrait of the employee

Appreciation letter from the CEO and senior management

E-mails, phone calls, and notes from peers

In addition to nonmonetary rewards, employees can be rewarded using money in

numerous ways. Cash is a welcome motivator and reward for improving performance,

whether at formal meetings or on the spot. Variable bonuses linked to performance

are another popular reward strategy. Profit sharing and pay-for-skills are monetary

bonus plans that both motivate individuals and improve goal achievement. Small acts

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of recognition are valuable for employee daily Retention. Sometimes a personal note

may mean more than a generic company award.

In one survey, employees cited the following as meaningful rewards (Moss, 2000):

Employee of the month awards Years of service awards

Bonus pay (above and beyond overtime) for weekend work

Invitations for technicians to technical shows and other industry events

Meaningful and Retention Rewards

What gives meaning to rewards and recognition? What makes them effective? First,

rewards and recognition should be based on a clear set of standards, with performance

verifiable or observable. The standards for the reward should also be achievable. If

the reward is based on an unachievable result, such as a production goal that is

beyond employees' power

Re Tension

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