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A STUDY ON EMPLOYER EMPLOYEE RETENTION IN BIG BAZAATR.

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BONAFIDE CERTIFICATE

This is to certify that the project work entitled “A Study on employee retention in BIG BAZAAR, Chennai”, is a bonafide record of work done by R.XYZ (Reg. No. XYZ) submitted in partial fulfillment of the requirement for the Degree of Master of Business Administration, 2010-2012.

Signature of the Faculty Guide

Signature of the Head

(Ms.XYZ )

(Dr. XYZ)

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DECLARATION

I hereby declare that the project done under the title “A Study on employees retention in Big Bazaar� submitted for the award of the degree of Master of Business Administration is my original work and that no part of this report has been submitted fully or partly for any other recognition earlier.

Signature of Candidate

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ACKNOWLEDGEMENT First and foremost, I thank and praise almighty for his guidance and protection throughout the course of our study. It is a great pleasure to acknowledge my sincere thanks to Dr. XYZ, and XYZ for her motivation to carry out the course of study. It is a great pleasure to acknowledge my sincere thanks to Sr. XYZ for her valuable support and guidance. I convey my heartfelt thanks to beloved head of the department Dr. XYZ for her constant support, co-operation and timely direction. I wish to express my gratitude to the faculty guide Ms. S.XYZ, Dept of Management Studies for her encouragement and assistance for completing this project.. I am greatly indebted to my guide Mr.XYZ, - People officer of Big Bazaar vadapalani, Chennai for his patient approach and for providing all the necessary assistance needed for the project. I wish to express my gratitude to all the staff members in the Department of Management Studies for their encouragement for completing this project. Finally I thank my teachers, respondents, friends and parents who helped us in completing the project successfully

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CONTENT S.NO

PARTICULARS

PAGE NO

1.

Introduction

2.

Company profile

3.

Industry profile

4.

Objective of the study

5.

Scope of the study

6.

Limitation of the study

7.

Review of Literature

8.

Research Methodology

9.

Data Analysis and Interpretation

10.

Findings

11. .

Suggestions

12.

Conclusion

13.

Bibliography

14.

Annexure

LIST OF TABLES 5


S.No 1

2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23

TABLES The number of respondents based on the gender Based on the age of the respondents The number of respondents based on the experience The number of respondents depending on the income salary and compensation Table showing Leave benefits Table shows about the health related benefits Table showing the Long term care insurance Table showing data about the tuition reimbursement Table showing the respondents of Deferred compensation Table to represent data about the Employee Assistant Program Table shows about the alternative work schedule Table showing the respondents of the mentoring Table showing the help with career planning Table showing the respondents rewards and recognition Table showing the respondents job rotation and new assignments Table shows about the employee suggestion program Table shows about the training opportunities Table showing the respondents about the performance appraisal Table showing about the Employees in my organization are treated with fairness and respect. Table shows about the Supervisors spend a good deal of time listening to employees ideas Table showing the respondents job is secured Table shows about the Employees doing their job independently

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Table showing about the Satisfaction about the fringe benefits Table showing the respondents Employees satisfied with their relationship with colleagues

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Table showing the respondents The superior is helpful to getting their job done Table showing about the opportunity for promotion is good Table showing the respondents the opportunity for promotion is good

27 28

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PAGE NO


LIST OF CHARTS S.No 1

2 3 4 5 6 7 8 9 10

CHARTS Chart showing the number of respondents based on the gender. Chart showing the respondents age group of respondents Chart showing the years experience of the respondents. Chart showing the income level of the employees Chart showing the salary and compensation Chart showing Leave benefits Chart shows about the health related benefits Chart showing the Long term care insurance Chart showing data about the tuition reimbursement Chart showing the respondents of Deferred compensation 7

PAGE NO


11 12 13 14 15 16 17 18 19 20 21 22 23

Chart to represent data about the Employee Assistant Program Chart shows about the alternative work schedule Chart showing the respondents of the mentoring Chart showing the help with career planning Chart showing the respondents rewards and recognition Chart showing the respondents job rotation and new assignments Chart shows about the employee suggestion program Chart shows about the training opportunities Chart showing the respondents about the performance appraisal Chart showing about the Employees in my organization are treated with fairness and respect. Chart shows about the Supervisors spend a good deal of time listening to employees ideas Chart showing the respondents job is secured Chart shows about the Employees doing their job independently

24 25

Chart showing about the Satisfaction about the fringe benefits Chart showing the respondents Employees satisfied with their relationship with colleagues

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Chart showing the respondents The superior is helpful to getting their job done Chart showing about the opportunity for promotion is good Chart showing the respondents the opportunity for promotion is good

27 28

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1.1 INTRODUCTION TO THE STUDY

Retail consists of the sale of physical goods or merchandise from a fixed location, such as a department store, boutique or kiosk, or by mall, in small or individual lots for direct consumption by the purchaser.[1] Retailing may include subordinated services, such as delivery. Purchasers may be individuals or businesses. In commerce, a "retailer" buys goods or products in large quantities from manufacturers or importers, either directly or through a wholesaler, and then sells smaller quantities to the end-user. Retail establishments are often called shops or stores. Retailers are at the end of the supply chain. Manufacturing marketers see the process of retailing as a necessary part of their overall distribution strategy. The term "retailer" is also applied where a service provider services the needs of a large number of individuals, such as a public utility, like electric power. Shops may be on residential streets, shopping streets with few or no houses or in a shopping mall. Shopping streets may be for pedestrians only. Sometimes a shopping street has a partial or full roof to protect customers from precipitation. 9


Online retailing, a type of electronic commerce used for business (B2C) transactions and mail order, are forms of non-shop retailing. Shopping generally refers to the act of buying products. Sometimes this is done to obtain necessities such as food and clothing; sometimes it is done as a recreational activity. Recreational shopping often involves window shopping (just looking, not buying) and browsing and does not always result in a purchase. ETYMOLOGY Retail comes from the Old French word tailer (compare modern French retailler), which means "to cut off, clip, pare, divide" in terms of tailoring (1365). It was first recorded as a noun with the meaning of a "sale in small quantities" in 1433 (from the Middle French retail, "piece cut off, shred, scrap, paring").[2] Like the French, the word retail in both Dutch and German (detailhandel and Einzelhandel, respectively) also refers to the sale of small quantities of items. TYPES OF RETAIL OUTLETS A marketplace is a location where goods and services are exchanged. The traditional market square is a city square where traders set up stalls and buyers browse the merchandise. This kind of market is very old, and countless such markets are still in operation around the whole world. In some parts of the world, the retail business is still dominated by small familyrun stores, but this market is increasingly being taken over by large retail chains. Retail is usually classified by type of products as follows: 

Food products



Hard goods ("hard-line retailers") - appliances, electronics, furniture, sporting goods, etc. 10


Soft goods - clothing, apparel, and other fabrics.

There are the following types of retailers by marketing strategy: 

Department stores - very large stores offering a huge assortment of "soft" and "hard goods; often bear a resemblance to a collection of specialty stores. A retailer of such store carries variety of categories and has broad assortment at average price. They offer considerable customer service.

Discount stores - tend to offer a wide array of products and services, but they compete mainly on price offers extensive assortment of merchandise at affordable and cut-rate prices. Normally retailers sell less fashion-oriented brands.

Warehouse stores - warehouses that offer low-cost, often high-quantity goods piled on pallets or steel shelves; warehouse clubs charge a membership fee;

Variety stores - these offer extremely low-cost goods, with limited selection;

Demographic - retailers that aim at one particular segment (e.g., high-end retailers focusing on wealthy individuals).

Mom-And-Pop: is a retail outlet that is owned and operated by individuals. The range of products are very selective and few in numbers. These stores are seen in local community often are family-run businesses. The square feet area of the store depends on the store holder.

Specialty stores: A typical specialty store gives attention to a particular category and provides high level of service to the customers. A pet store that specializes in selling dog food would be regarded as a specialty store. However, branded stores also come under this format. For example if a customer visits a Reebok or Gap store then they find just Reebok and Gap products in the respective stores. 11


General store - a rural store that supplies the main needs for the local community;

Convenience stores: is essentially found in residential areas. They provide limited amount of merchandise at more than average prices with a speedy checkout. This store is ideal for emergency and immediate purchases.

Hypermarkets: provides variety and huge volumes of exclusive merchandise at low margins. The operating cost is comparatively less than other retail formats.

Supermarkets: is a self service store consisting mainly of grocery and limited products on non food items. They may adopt a Hi-Lo or an EDLP strategy for pricing. The supermarkets can be anywhere between 20,000 and 40,000 square feet (3,700 m2). Example: SPAR supermarket.

Malls: has a range of retail shops at a single outlet. They endow with products, food and entertainment under a roof.

Category killers or Category Specialist: By supplying wide assortment in a single category for lower prices a retailer can "kill" that category for other retailers. For few categories, such as electronics, the products are displayed at the centre of the store and sales person will be available to address customer queries and give suggestions when required. Other retail format stores are forced to reduce the prices if a category specialist retail store is present in the vicinity.

E-tailers: The customer can shop and order through internet and the merchandise are dropped at the customer's doorstep. Here the retailers use drop shipping technique. They accept the payment for the product but the customer receives the product directly from the manufacturer or a wholesaler. This format is ideal for customers who do not want to travel to retail stores and are interested in home shopping. However it is important for the customer to be wary about defective products and non secure credit card transaction. Example: Amazon, Pennyful and Ebay. 12


Vending Machines: This is an automated piece of equipment wherein customers can drop in the money in machine and acquire the products.

Some stores take a no frills approach, while others are "mid-range" or "high end", depending on what income level they target. Other types of retail store include: 

Automated Retail stores are self service, robotic kiosks located in airports, malls and grocery stores. The stores accept credit cards and are usually open 24/7. Examples include ZoomShops andRedbox.

Big-box stores encompass larger department, discount, general merchandise, and warehouse stores.

Convenience store - a small store often with extended hours, stocking everyday or roadside items;

General store - a store which sells most goods needed, typically in a rural area;

Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle and purchase behaviour. A good format will lend a hand to display products well and entice the target customers to spawn sales. RETAIL PRICING The pricing technique used by most retailers is cost-plus pricing. This involves adding a mark-up amount (or percentage) to the retailer's cost. Another common technique is suggested retail pricing. This simply involves charging the amount suggested by the manufacturer and usually printed on the product by the manufacturer.

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In Western countries, retail prices are often called psychological prices or odd prices. Often prices are fixed and displayed on signs or labels. Alternatively, when prices are not clearly displayed, there can be price discrimination, where the sale price is dependent upon who the customer is. For example, a customer may have to pay more if the seller determines that he or she is willing and/or able to. Another example would be the practice of discounting for youths, students, or senior citizens.. TRANSFER MECHANISM There are several ways in which consumers can receive goods from a retailer: 

Counter service, where goods are out of reach of buyers and must be obtained from the seller. This type of retail is common for small expensive items (e.g. jewelry) and controlled items like medicine and liquor. It was common before the 1900s in the United States and is more common in certain countries like India.[which?]

Delivery, where goods are shipped directly to consumer's homes or workplaces. Mail order from a printed catalog was invented in 1744 and was common in the late 19th and early 20th centuries. Ordering by telephone is now common, either from a catalog, newspaper, television advertisement or a local restaurant menu, for immediate service (especially for pizza delivery). Direct marketing, including telemarketing and television shopping channels, are also used to generate telephone orders. Started gaining significant market share in developed countries in the 2000s.

Door-to-door sales, where the salesperson sometimes travels with the goods for sale.

Self-service, where goods may be handled and examined prior to purchase

SECOND HAND RETAIL 14


Some shops sell second-hand goods. In the case of a non-profit shop, the public donates goods to the shop to be sold. In give-away shops goods can be taken for free. Another form is the pawnshop, in which goods are sold that was used as collateral for loans. There are also "consignment" shops, which are where a person can place an item in a store and if it sells, the person gives the shop owner a percentage of the sale price. The advantage of selling an item this way is that the established shop gives the item exposure to more potential buyers. CHALLENGES To achieve and maintain a foothold in an existing market, a prospective retail establishment must overcome the following hurdles: •

Regulatory barriers including ♦ Restrictions on real estate purchases, especially as imposed by local

governments and against "big-box" chain retailers; ♦ Restrictions on foreign investment in retailers, in terms of both absolute

amount of financing provided and percentage share of voting stock (e.g., common stock) purchased; •

Unfavorable taxation structures, especially those designed to penalize or keep out "big box" retailers (see "Regulatory" above);

• Absence of developed supply chain and integrated IT management; •

High competitiveness among existing market participants and resulting low profit margins, caused in part by

Constant advances in product design resulting in constant threat of product obsolescence and price declines for existing inventory; and

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• Lack of properly educated and/or trained work force, often including management, caused in part by • Lack of educational infrastructure enabling prospective market entrants to respond to the above challenges.

SALES TECHNIQUES Behind the scenes at retail, there is another factor at work. Corporations and independent store owners alike are always trying to get the edge on their competitors. One way to do this is to hire a merchandising solutions company to design custom store displays that will attract more customers in a certain demographic. The nation's largest retailers spend millions every year on in-store marketing programs that correspond to seasonal and promotional changes. As products change, so will a retail landscape. Retailers can also use facing techniques to create the look of a perfectly stocked store, even when it is not. A destination store is one that customers will initiate a trip specifically to visit, sometimes over a large area. These stores are often used to "anchor" a shopping mall or plaza, generating foot traffic, which is capitalized upon by smaller retailers. CUSTOMER SERVICE Customer service is the "sum of acts and elements that allow consumers to receive what they need or desire from your retail establishment." It is important for a sales associate to greet the customer and make himself available to help the customer find whatever he needs. When a customer enters the store, it is important that the sales associate does everything in his power to make the customer feel 16


welcomed, important, and make sure he leave the store satisfied. Giving the customer full, undivided attention and helping him find what he is looking for will contribute to the customer's satisfaction.

STATISTICS FOR NATIONAL RETAIL SALES United States The Retail Sales report is published every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the US CB complete retail & food services sample. It has been published by the US Census Bureau since 1951. CONSOLIDATION Among retailers and retails chains a lot of consolidation has appeared over the last couple of decades. Between 1988 and 2010, worldwide 40'788 mergers & acquisitions with a total known value of 2'255 bil. USD have been announced. [5]

The largest transactions with involvement of retailers in/from the United States

have been: the acquisition of Albertson's Inc. for 17 bil. USD in 2006,[6] the merger between Federated Department Stores Inc with May Department Stores valued at 16.5 bil. USD in 2005[7] - now Macy's, and the merger between Kmart Holding Corp and Sears Roebuck & Co with a value of 10.9 bil. USD in 2004.

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COMPANY PROFILE

C

Big Bazaar is a chain of hypermarket in India. Currently,[when?] there are 210 stores across 80 cities and towns in India. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of

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merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections. Big Bazaar is part of Future Group, which also owns the Central Hypermarket, and is owned through a wholly owned subsidiary of Pantaloon Retail IndiaLimited(BSE: 523574 523574), that is listed on Indian stock exchanges.

HISTORY Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 150 Big Bazaar stores in 80 cities and towns across India. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloon Retail. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current format includes Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. OPERATIONS Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city centers as well as within shopping malls. These stores offer over 200,000 SKUs in a wide range of categories led primarily by fashion and food products. 19


Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is now present within every Big Bazaar as well as in independent locations. A typical Big Bazaar is spread across around 50,000 square feet (4,600 m2) of retail space. While the larger metropolises have Big Bazaar Family centres measuring between 75,000 square feet (7,000 m2) and 160,000 square feet (15,000 m2), Big Bazaar Express stores in smaller towns measure around 30,000 square feet (2,800 m2). Big Bazaar has the facility to purchase products online through its official web page, and offers free shipping on some of their products.

INNOVATION WEDNESDAY BAZAAR Big Bazaar introduced the Wednesday Bazaar concept and promoted it as “Hafte Ka Sabse Sasta Din�. It was mainly to draw customers to the stores on Wednesdays, when least number of customers are observed. According to the chain, the aim of the concept is "to give home makers the power to save the most and even the stores in the city don a fresh look to make customers feel that it is their day".

MAHA BACHAT Maha Bachat was started off in 2006 as a single day campaign with attractive promotional offers across all Big Bazaar stores. Over the years it has grown into a 6 days biannual campaign. It has attractive offers in all its value formats such as Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar - catering to the entire needs of a consumer. TIME LINE

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2001 Three Big Bazaar stores launched within a span of 22 days in Kolkata, Bangalore and Hyderabad 2002 Big Bazaar - ICICI Bank Card is launched. Food Bazaar becomes part of Big Bazaar with the launch of the first store in Mumbai at High Street Phoenix 2003 Big Bazaar enters Tier II cities with the launch of the store in Nagpur. Big Bazaar welcomes its 10 million-th customer at its new store in Gurgaon 2004 Big Bazaar wins its first award and national recognition. Big Bazaar and Food Bazaar awarded the country’s most admired retailer award in value retailing and food retailing segment at the India Retail Forum. A day before Diwali, the store at Lower Parel becomes the first to touch Rs 10 million turnover on a single day 2005 Initiates the implementation of SAP and pilots a RFID project at its central warehouse in Tarapur. Launches a unique shopping program: the Big Bazaar Exchange Offer, inviting customers to exchange household junk at Big Bazaar. Electronic Bazaar and Furniture Bazaar are launched 2006 Mohan Jadhav sets a national record at Big Bazaar Sangli with a Rs 1,37,367 shopping bill. The Sangli farmer becomes Big Bazaar’s largest ever customer. Big Bazaar launches Shakti, India’s first credit card program tailored for housewives. Navaras – the jewellery store launched within Big Bazaar stores 2007 The 50th Big Bazaar store is launched in Kanpur. Big Bazaar partners with Futurebazaar.com to launch India's most popular shopping portal. Big Bazaar initiates the Power of One campaign to help raise funds for the Save The Children India Fund Pantaloon Retail wins the International Retailer of the Year at USbased National Retail Federation convention in New York and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona. 2008 Big Bazaar becomes the fastest growing hypermarket format in the world with the launch of its 101st store within 7 years of launch. Big Bazaar dons a new look with a fresh new section, Fashion@Big Bazaar. Big Bazaar joins the league 21


of India’s Business Superbrands. It is voted among the top ten service brands in the country in the latest Pitch-IMRB international survey. 2009 Big Bazaar opens its second store in Assam at Tinsukia. Big Bazaar initiates Maha Annasantarpane program at its stores in South India – a unique initiative to offer meals to visitors and support local social organizations. Big Bazaar captures almost one-third share in food and grocery products sold through modern retail in India. 2010 Future Value Retail Limited is formed as a specialized subsidiary to spearhead the group’s value retail business through Big Bazaar, Food Bazaar and other formats. Big Bazaar wins CNBC Awaaz Consumer Awards for the third consecutive year. Adjudged the most preferred Most Preferred Multi Brand Food & Beverage Chain, Most Preferred Multi Brand Retail Outlet and Most Preferred Multi Brand One Stop Shop. Big Bazaar connects over 30,000 small and medium Indian manufacturers and entrepreneurs with around 200 million customers visiting its stores. Big Bazaar opens its third store in Kanpur at Z Square Mall. Big Bazaar should opens its fourth store in Kanpur at Jajmau which is the largest leather tannery garrison of Asia. OUR VISION Future Group shall deliver Everything, Everywhere, Every time for Every Indian Consumer in the most profitable manner. OUR MISSION  We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development.  We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments – for classes and for masses.  We shall infuse Indian brands with confidence and renewed ambition.

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 We shall be efficient, cost- conscious and committed to quality in whatever we do.  We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.

CORE VALUES  Indian ness: confidence in ourselves.  Leadership: to be a leader, both in thought and business.  Respect & Humility: to respect every individual and be humble in our conduct.  Introspection: leading to purposeful thinking.  Openness: to be open and receptive to new ideas, knowledge and information.  Valuing and Nurturing Relationships: to build long term relationships.  Simplicity & Positivity: Simplicity and positivism in our thought, business and action.  Adaptability: to be flexible and adaptable, to meet challenges.  Flow: to respect and understand the universal laws of nature.

SWOT Analysis Strengths: •

High brand equity enjoyed by Big Bazaar 23


State of the art infrastructure

A vast variety of stuff available under one roof

Everyday low prices, which attract customers

Maximum percent of footfalls converted in sales

Huge investment capacity

Biggest value retail chain in India

It offers a family shopping experience, where entire family can visit

together. Available facilities such as online booking and delivery of goods

Weakness:  Unable to meet store opening targets on time  Falling revenue per sq ft  General perception: ‘Low price = Low quality’  Overcrowded during offers  Long lines at billing counters which are time consuming  Limited only to value offering low price products.  A no of branded products are still missing from Big Bazaar’s line of products. E.g. Jockey, Van heusen, Opportunity: •

A lot of scope in Indian organized retail as it stands at approximately 4%.

Increasing mall culture in India.

More people these days prefer to visit big stores where they can find large

variety under one roof

Threats: •

Competition from other value retail chains such as Shoprite, Reliance

(Fresh and trends), Hyper city and D mart. 24


Unorganized retail also appears to be a threat to Big Bazaar’s business. A

large population still prefers to visit local convenient stores for daily purchases •

Changing Government policies

International players looking to foray India

OBJECTIVES OF THE STUDY • To find the factors that influence employee retention • To find the factors which motivates the employee to retain in organization • To make recommendation for future research. PRIMARY OBJECTIVE: • To identify the factors influencing participation in employee retention activities. SECONDARY OBJECTIVE: • To identify the employees expectation from the rewards and recognition system. • To ascertain the motivational drivers that help to create a retain workplace.

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SCOPE OF THE STUDY The scope of the study includes: 1. To understand the relationship between the employer and employees. 2. This study is helpful to the organization for conducting further research. 3. It is helpful for the organization to understand the employee relationship regarding human resource practices in the organization.

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1.6 LIMITATIONS OF THE STUDY: 1. The findings of the study are subjected to bias and prejudice of the respondents. 2. Area of the study is confined to the employees in Big Bazaar vadapalani only. 3. Time factor can be considered as a main limitation. 4. The findings of the study are solely based on the information provided by the respondents. 5. The accuracy of findings is limited by the accuracy of statistical tools used for analysis. 6. Findings of the research may change due to area, age condition of economy etc.

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REVIEW OF LITERATURE A literature review is a body of text that aims to review the critical points of current knowledge including substantive findings as well as theoretical and methodological contributions to a particular topic. EMPLOYEE RETENTION: 1) Employers have a need to keep employees from leaving and going to work for other companies. This is true because of the great costs associated with hiring and retraining new employees. The best way to retain employees is by providing them with job satisfaction and opportunities for advancement in their careers (Eskildesen 2000, Hammer 2000). 2) Employees that are satisfied and happy in with their jobs are more dedicated in doing a good job and taking care of customers that sustain the operation. Job satisfaction is something that working people seek and a key element of employee retention (Marini 2000; Denton 2000).

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3) Research has shown that there may be many

environmental features that can

be created and maintained to give employees job satisfaction. Pay and benefits, communication, motivation ,justice and leisure time all seem to play a part as to whether employees are satisfied with their jobs, according to studies which helps to retain employees. (Brewer 2000; Employee 2000; Money 2000; Wagner 2000). 4) The employees are extremely crucial to the organisation since their value to the organization is essentially intangible and not easily replicated Meaghan et al. (2002). Therefore, managers must recognize that employees as major contributors to the efficient achievement of the organization’s success (Abbasi et al. (2000)). 5) Employee engagement, the organization’s capacity to engage, retain, and optimize the value of its employees hinges on how well jobs are designed, how employees' time is used, and the commitment and support that is shown to employees by the management would motivate employees to stay in organization’s (Johnson et al (2000)). 6) Knowledge accessibility, the extent of the organisation’s collaborativeness and its capacity for making knowledge and ideas widely available to employees,would make employees to stay in the organisation. Sharing of information should be made at all levels of management.This accessibility of information would lead to strong performance from the employees and creating strong corporate culture Meaghan et al. (2002).

7) Workforce optimization, the organisation’s success in optimizing the performance of the employees by establishing essential processes for getting work done, providing good working conditions, establishing accountability and making

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good hiring choices would retain employees in their organisation. (Badawy, 1988; Basta and Johnson, 1989; Garden, 1989; Parden, 1981; Sherman, 1986).

3.1 RESEARCH METHODOLOGY Research methodology is the systematic way to solve the research problem. It gives an idea about various steps adopted by the researcher in a systematic manner with an objective to determine various manners.

RESEARCH DESIGN: The Research design is purely and simply the framework of plan for a study that guides the collection and analysis of data. Descriptive Research design was used for this research

DATAUSED: The type of data collected comprises of Primary data and Secondary data. Primary data is the first hand data collected from the employer and employee. It was collected through questionnaire. Secondary data for the study has been compiled from the reports and official publication of the organization, which have been helped in getting an insight of the present scenario existing in the operation of the company.

RESEARCH INSTRUMENT: 30


The method used for data collection was “questionnaire method”. The questionnaire is a structured one. It was a mixture of close ended and multiple choices.

POPULATION SIZE: The population size is 100

SAMPLE SIZE: The size of the sample is 25

SAMPLING TECHNIQUE: The technique adopted here is the probability sampling, simple random sampling was adopted. The Statistical tools applied 1. Chi-Square Test 2. ANOVA 3. Weighted Average 4. Percentage analysis SCALING TECHNIQUE: Likert - type scaling is adopted for this study. Likert –type scale consists of a number of statements which express either a favorable or unfavorable attitude towards the given object to which the respondents is asked to react. DIAGRAMMATIC REPRESENTATION •

Bar diagram: A bar diagram can be drawn either on a horizontal or vertical base.

Bars on horizontal base are more common. A bar diagram is simple to draw and more common to understand.

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•

Pie diagram: Pie diagram is an important and a popular means of

representation. Pie diagram should be used on a percentage basis and not on an absolute basis, Pie diagram showing absolute figures would require the larger totals represented by larger circles. When pie diagram are constructed on a percentage basis, percentage can be presented by circles equal in size.

DATA ANALYSIS AND INTERPRETATION It is an astonishing skill to discover the new things for a researcher in his study. It calls for the researcher’s own judgment and skill. Analysis means a critical examination of the assembled and grouped data for studying the characteristics of the object studying and for determining the patterns of relationship among the variables relating to it.

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PERCENTAGE ANALYSIS METHOD

It is a special kind of ration. It is used in making comparison between two or more series of data that are used to describe relationship. Moreover % can also be used to compare the relative terms of the distribution of two or more series of data.

ďƒ˜ Percentage analysis Actual population Simple Percentage = ------------------------ x 100 Sample size

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PERCENTAGE ANALYSIS TABLE 1 Table No.1 shows the employee’s category distribution on the basis of gender S.No

Gender

No. of employees

Simple percentage

1. 2.

Male Female

58 42

58 42

Total

100

100

INFERENCE The above table shows that 58% of the employees are belong to male category and the rest 42% are belongs to female category.

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CHART 1 Chart showing the number of respondents based on gender

male Female Slice 3 Slice 4

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TABLE 2 Table No.2 shows the age wise distribution of the employees S.No

Age group

No. of employees

Simple percentage

1.

18-25 years

25

25

2.

26-35years

50

50

3.

36-45years

25

25

4.

46-55 years

0

0

5.

Above 55 years

0

0

100

100

Total

INFERENCE The above table shows that majority of the employees i.e., 50% are attained the age 18-25years, 25% of the employees are attained the age 18-25years and 25% of the employee are attained the age between 36-45years and there is no respondents in the age 46-55 and above 55 years.

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CHART 2 Chart showing age group of respondents

18-25 years 26-35years 36-45years 46-55 years above 55

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TABLE 3 Table No.3 shows the experience of the employees S.No

Experience

No. of employees

Simple percentage

1.

Below 1 year

48

48

2.

1-3 years

35

35

3.

4-6 years

17

17

4.

7-9 years

0

0

5.

10-12 years

0

0

Total

100

100

INFERENCE The above table shows the experience of the employees i.e., 48% of the employees is below 1 year, 35% of the employees are between1-3 years and 17% of the employees are between 4-6 years, there is no respondents in the 7-9 years and 10-12 years

CHART 3 38


Chart showing the experience of the respondents

60 50 40 30 20 10 0

TABLE 4 39


Table No.4 shows the income level of the employees S.No

Income

No. of employees

Simple percentage

1.

Rs.3001-4000

68

68

2.

Rs.4001-5000

12

12

3.

Rs.5001-6000

5

5

4.

Rs.6001-7000

15

15

5.

Above 7000

0

0

25

100

Total

INFERENCE The above table shows the income level of the employees i.e., 68% of the employees is Rs.3001-4000, 15% of the employees are Rs.6001-7000 and 12% of the employees are Rs.4001-5000, 5% of the employees are Rs.5001-6000 and above Rs.7000.

CHART 4 40


Chart showing the income of the respondents

70 60 Rs.3001-4000 Rs.4001-5000 Rs.5001-6000 Rs.6001-7000 above Rs.7000

50 40 30 20 10 0

TABLE 5

41


Table No.5 Salary and compensation S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

2

2

2.

Satisfied

17

17

3.

Neutral

20

20

4.

Dissatisfied

43

43

5.

Highly dissatisfied

18

18

100

100

Total

INFERENCE The above table shows employees satisfied with their salary and compensation i.e., 2% of the employees said highly satisfied, 17% of the employees said satisfied and 20% of the employees are said neutral and 43% of the employees said dissatisfied and 18% are highly dissatisfied.

CHART 5 42


Chart showing Salary and compensation

40

Highly satisfied Satisfied

30

Neutral

50

20

Dissatisfied

10

Highly dissatisfied

0

TABLE 6 Table No.6 Leave Benefits 43


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

12

12

2.

Satisfied

46

46

3.

Neutral

33

33

4.

Dissatisfied

9

9

0

0

100

100

5.

Highly dissatisfied Total

INFERENCE The above table shows employees leave benefits. i.e., 12% of the employees said highly satisfied, 46% of the employees said satisfied and 33% of the employees said neutral and 9% are dissatisfied and no response are highly dissatisfied.

CHART-6

Chart shows about the employees leave benefits 44


Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

TABLE 7 Table No.7 Health related benefits 45


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

12

12

2.

Satisfied

39

39

3.

Neutral

35

35

4.

Dissatisfied

14

14

0

0

100

100

5.

Highly dissatisfied Total

INFERENCE The above table shows Health related benefits i.e., 12% of the employees said highly satisfied, 39% of the employees said satisfied and 35% of the employees said neutral and 14% of the employees said dissatisfied and 0% are highly dissatisfied.

CHART 7 Chart showing about the Health related benefits 46


Highly satisfied 40 30 20

TABLE 8 Table No.8 Long term care insurance 47

Satisfied Neutral

10

Dissatisfied

0

Highly dissatisfied


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

12

12

2.

Satisfied

64

64

3.

Neutral

13

13

4.

Dissatisfied

11

11

0

0

100

100

5.

Highly dissatisfied Total

INFERENCE The above table shows Long term care insurance i.e., 12% of the employees said highly satisfied, 64% of the employees said satisfied and 13% of the employees said neutral and 11% of the employees said dissatisfied and0% of the employees said highly.

CHART 8 Chart showing about the Long term care Insurance

48


Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

TABLE 9 Table No.9 Tuition Reimbursement

49


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

3

3

2.

Satisfied

68

68

3.

Neutral

17

17

4.

Dissatisfied

12

12

5.

Highly dissatisfied

0

0

100

100

Total

INFERENCE The above table shows tuition reimbursement i.e., 3% of the employees said highly satisfied, 68% of the employees said satisfied and 17% are in neutral and 12% are in dissatisfied and 0% are highly dissatisfied.

CHART 9 Chart showing about the Tuition Reimbursement

50


120 100 80

Highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied

60 40 20 0

TABLE 10 Table No.10 Deferred compensation

51


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

9

9

2.

Satisfied

68

68

3.

Neutral

17

17

4.

Dissatisfied

12

12

5.

Highly Dissatisfied

0

0

Total

100

100

INFERENCE The above table shows the Deferred Compensation i.e., 9% of the employees said highly satisfied, 68% of the employees said satisfied and 17% of the employees said neutral and 12% of the employees said dissatisfied and 0% are highly dissatisfied.

CHART-10 Chart showing about the Deferred Compensation

52


Highly Dissatisfied Dissatisfied Neutral Satisfied Highly satisfied 0

20

40

60

80

TABLE 11 Table No.11 Employee Assistant Program (Counseling) S.No

Factors

No. of employees 53

Simple percentage


1.

Highly satisfied

5

5

2.

Satisfied

39

39

3.

Neutral

27

27

4.

Dissatisfied

21

21

5.

Highly Dissatisfied

8

8

Total

100

100

INFERENCE The above table shows the Counseling i.e., 5% of the employees said highly satisfied, 39% of the employees said satisfied and 27% of the employees said neutral and 21% of the employees said dissatisfied and8% are highly dissatisfied.

CHART-11 Chart showing about the Employee Assistant Program Counseling

54


45 40 35 Highly satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied

30 25 20 15 10 5 0 .

TABLE 12 Table No.12 Alternative work schedule S.No

Factors

No. of employees 55

Simple percentage


1.

Highly satisfied

7

7

2.

Satisfied

49

49

3.

Neutral

23

23

4.

Dissatisfied

18

18

5.

Highly Dissatisfied

3

3

Total

100

100

INFERENCE The above table shows Alternative work schedule i.e., 7% of the employees said highly satisfied, 49% of the employees are satisfied, 23% are in neutral, 18% are dissatisfied, and 3% are highly dissatisfied.

CHART-12 Chart shows about the Alternative Work Schedule

56


50

Highly satisfied

40

Satisfied

30

Neutral

20 Dissatisfied

10 0

Highly Dissatisfied

TABLE 13

Table No.13 Mentoring 57


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

23

23

2.

Satisfied

68

68

3.

Neutral

8

8

4.

Dissatisfied

1

1

5.

Highly Dissatisfied

0

0

Total

100

100

INFERENCE The above table shows Mentoring i.e., 23% of the employees said highly satisfied, 68% of the employees are satisfied, 8% are in neutral, 1% are dissatisfied, and 0% are highly dissatisfied.

CHART-13 Chart shows about the Mentoring

58


70

Highly satisfied

60

Satisfied

50 40

Neutral

30

Dissatisfied

20 10

Highly Dissatisfied

0

TABLE 14 Table No.14 Help with career planning 59


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

25

25

2.

Satisfied

48

48

3.

Neutral

10

10

4.

Dissatisfied

12

12

5.

Highly Dissatisfied

5

5

Total

100

100

INFERENCE The above table shows Help with career planning i.e., 25% of the employees said highly satisfied, 48% of the employees are satisfied, 10% are in neutral, 12% are dissatisfied, and 5% are highly dissatisfied.

CHART- 14 Chart shows about the health with career planning 60


Highly satisfied Satisfied Neutral Dissatisfied Highly Dissatisfied

TABLE 15 Table No.15 Rewards and recognition 61


S.No

Factors

No. of employees

Simple percentage

1.

Highly satisfied

25

25

2.

Satisfied

49

49

3.

Neutral

23

23

4.

Dissatisfied

3

3

5.

Highly Dissatisfied

0

0

Total

100

100

INFERENCE The above table shows rewards and recognition i.e., 25% of the employees said highly satisfied, 49% of the employees are satisfied, 23% are in neutral, 3% are dissatisfied, and 0% are highly dissatisfied.

CHART-15 Chart shows about Rewards and recognition 62


60 Highly satisfied

50

Satisfied

40

Neutral

30 20

Dissatisfied

10

Highly Dissatisfied

0

TABLE 16 Table No.16 Job Rotation and new assignments

63


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

12

12

2.

Agree

59

59

3.

Neutral

22

22

4.

Disagree

5

5

5.

Strongly disagree

3

3

Total

100

100

INFERENCE The above table show job rotation and new assignments i.e., 12% of the employees are strongly agree and 59% of the employees said agree ,22% are in neutral,5% are said to be disagree, and 3% are strongly disagree..

CHART-16 Chart shows about the Job Rotation and new assignments

64


60 50 Strongly agree

40

Agree

30

Neutral

20

Disagree Strongly disagree

10 0

TABLE 17 Table No.17 Employee suggestion program

65


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

27

27

2.

Agree

35

35

3.

Neutral

23

23

4.

Disagree

10

10

5.

Strongly disagree

5

5

Total

100

100

INFERENCE The above table shows employee suggestion program i.e., 27% of the employees said strongly agree and 35% of the employees said agree and 23% of the employees are Neutral, 10% are disagree, and 5% are strongly disagree.

CHART-17 Chart shows about the Employee suggestion program

66


Strongly disagree Disagree Neutral Agree Strongly agree

0

10

20

30

TABLE 18 Table No.18 Training opportunities

67

40


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

35

35

2.

Agree

27

27

3.

Neutral

22

22

4.

Disagree

12

12

5.

Strongly disagree

4

4

Total

100

100

INFERENCE The above table shows training opportunities. i.e., 35% of the employees said strongly agree and 27% of the employees said agree and 22% of the employees said Neutral, 12% are disagreeing and 4% are strongly disagreeing.

CHART-18 Chart shows about the Training opportunities

68


35 30 25

Strongly agree Agree Neutral Disagree Strongly disagree

20 15 10 5 0

TABLE 19 Table no: 19 Annual performance appraisals

S.No

Factors

No. of employees 69

Simple percentage


1.

Strongly agree

43

43

2.

Agree

21

21

3.

Neutral

36

36

4.

Disagree

0

0

5.

Strongly disagree

0

0

Total

100

100

INFERENCE The above table shows about annual performance appraisal i.e. 43% of the employees said strongly agree, 21% of the employees said agree and 36% of the employees said neutral 0% of the employees said disagree 0% are strongly disagree

CHART-19 Chart shows about the Annual performance appraisals

70


50 40 30 20 10

Strongly agree Agree Neutral Disagree Strongly disagree

0

TABLE 20 Table No.20 Employees in my organization are treated with fairness and respect. 71


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

35

35

2.

Agree

58

58

3.

Neutral

4

4

4.

Disagree

3

3

5.

Strongly disagree

1

1

Total

100

100

INFERENCE The above table shows adequate space at the workplace i.e., 35% of the employees said strongly agrees and 58% of the employees said agree and 4 of the employees said neutral,3% says disagree and 1% say strongly disagree.

CHART-20 Chart shows about the Employees in my organization are treated with fairness and respect.

72


10 8 6 4 2 0

Strongly agree

Strongly agree Agree Neutral Disagree Strongly disagree

TABLE 21 Table No.21 Supervisors spend a good deal of time listening to employees ideas

73


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

49

49

2.

Agree

33

33

3.

Neutral

12

12

4.

Disagree

5

5

5.

Strongly disagree

1

1

Total

100

100

INFERENCE The above table shows supervisors spend a good deal of time listening to employees ideas i.e., 49% of the employees said strongly agree and 33% of the employees said agree and 12% of the employees said neutral,5% are disagree, and 1% are strongly disagree.

CHART-21 Chart showing about the Supervisors spend a good deal of time listening to employees ideas

74


Strongly agree Agree Neutral Disagree Strongly disagree

TABLE 22 Table No.25 job is secured

75


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

12

12

2.

Agree

37

37

3.

Neutral

41

41

4.

Disagree

7

7

5.

Strongly disagree

3

3

Total

100

100

INFERENCE The above table shows job is secured i.e., 12% of the employees said strongly agree and 37% of the employees said agree, 41% are in neutral,7% are disagree and 3% are strongly disagree

CHART-22 Chart showing about the job is secured

76


Strongly disagree Disagree Neutral Agree Strongly agree

0

2

4

6

TABLE 23 Table No.23 Employees doing their job independently S.No

Factors

No. of employees

77

Simple percentage


1.

Strongly agree

23

23

2.

Agree

73

73

3.

Neutral

3

3

4.

Disagree

0

0

5.

Strongly disagree

0

0

Total

100

100

INFERENCE The above table shows employee independence in their job i.e., 23% of the employees said strongly agree and 73% of the employees said agree and 3% of the employees said neutral,0% said disagree, and 0% are strongly disagree.

CHART-23 Chart showing about the Employees doing their job independently

78


80 70 60 50 40 30 20 10 0

Strongly agree

Agree

Neutral Disagree Strongly disagree

TABLE 24 Table No.24 Satisfaction about the fringe benefits

79


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

35

35

2.

Agree

28

28

3.

Neutral

20

20

4.

Disagree

12

12

5.

Strongly disagree

5

5

Total

100

100

INFERENCE The above table shows satisfaction level i.e., ,35% of the employees said strongly agree and 28% of the employees said agree and 20% of the employees said neutral and 12% of the employees said disagree, 5%are strongly disagree

CHART-24 Chart showing about the Satisfaction about the fringe benefits

80


40 30 20

Strongly disagree

Strongly agree

0

Neutral

10

Strongly agree Agree Neutral Disagree Strongly disagree

TABLE 25 Table No.25 Employees satisfied with their relationship with colleagues

81


S.No

Factors

No. of employees

Simple percentage

1.

Strongly agree

10

2.

Agree

5

20

3.

Neutral

4

16

4.

Disagree

3

12

5.

Strongly disagree

3

12

Total

25

100

40

INFERENCE The above table shows communicating openly and honestly i.e., 40% of the employees said strongly agree, 20% of the employees said agree and 16% of the employees said neutral and 12% of the employees said disagree. 12% are strongly disagree.

CHART-25 Chart showing about the employees satisfied with their relationship with colleagues

82


Strongly disagree Disagree Neutral Agree Strongly agree 0

2

4

6

8

10

TABLE 26 Table No.26 The superior is helpful to getting their job done

S.No

Factors

No. of employees

83

Simple percentage


1.

Strongly agree

45

45

2.

Agree

35

35

3.

Neutral

12

12

4.

Disagree

8

8

5.

Strongly disagree

0

0

Total

100

100

INFERENCE The above table the superior is helpful to getting their job done i.e., 45% of the employees said strongly agree, 35% of the employees said agree and 12% of the employees said neutral and 8% of the employees said disagree. 0% is strongly disagree.

CHART-26 Chart showing about the superior is helpful to getting their job done

84


50 40 30

Strongly agree

0

Neutral

10

Strongly disagree

20

Strongly agree Agree Neutral Disagree Strongly disagree

TABLE 27 Table No.26 The opportunity for promotion is good S.No

Factors

No. of employees

85

Simple percentage


1.

Strongly agree

12

12

2.

Agree

12

12

3.

Neutral

13

13

4.

Disagree

39

39

5.

Strongly disagree

24

24

Total

100

100

INFERENCE The above table the opportunity for promotions is good. i.e., 12% of the employees said strongly agree, 12% of the employees said agree and 13% of the employees said neutral and 39% of the employees said disagree. 24% is strongly disagreeing.

CHART-26 Chart showing about the opportunity for promotion is good

86


Strongly agree Agree Neutral Disagree Strongly disagree

CHI-SQUARE ANALYSIS The chi-square test is one of the tests of significance. It is written as x ² (pronounced as ‘ki’square). It is also called as test of association. It is used in relation to sampling analysis for comparing variance to a theoretical variance.

87


When we have nominal data in from of frequencies and when each and every observation is independent of all other observation in such cases this is applied This test can also be used to decide if two classifications are independent as a non parametric test. All the researcher may use this test for the a- Goodness fit test b- Significance of association between two attributes. c- Significance of population variance.

FORMULA: CHI-SQUARE= (O-E) ²/E Where O = Observed Frequency, E =Expected Frequency

CHI-SQUARE TEST TESTING OF HYPOTHESIS 1 Null Hypothesis (H0) There is no association between the educational qualification of the respondents and satisfaction towards salary in the company. Alternate hypothesis (H1) There is an association between the experience level of the respondents and job security in the company.

Relationship between the job security and experience of the respondents

88


Job security

STRONGLY AGREE

AGREE

NEUTRAL DISAGREE STRONGLY DISAGREE

TOTAL

8

20

15

3

2

48

2

12

16

4

1

35

2

5

10

0

0

17

0

0

0

0

0

-

0

0

0

0

0

-

12

37

41

7

3

100

Experience

Below 1 year

1-3 year 4-6 year 7-9 year

10-12 year

TOTAL

89


Observed frequency (O)

Expected frequency(E)

(O-E)

(O – E)2

[(O – E)2 / E]

8

5.76

2.24

5.0176

0.8711

20

17.76

2.24

5.0176

0.2825

15

19.68

-4.68

21.9024

1.1129

3

3.36

-0.36

0.1296

0.0386

2

1.44

0.56

0.3136

0.2177

2

4.20

-2.20

4.84

1.1523

12

12.95

-0.95

0.9025

0.0697

16

14.35

1.65

2.7225

0.1897

4

2.45

1.55

2.4025

0.9806

1

1.05

-0.05

0.0025

0.0024

2

2.04

-0.04

0.0016

0.00078

5

6.29

-1.29

1.6641

0.2646

10

6.97

3.03

9.1806

1.3171

TOTAL

6.49998

Calculated value 90


χ2 = ∑ [(O – E) 2 / E] =6.49998 Degree of freedom= (r-1) (c-1) = (5-1) (5-1) =16 Table value at 12 degree of freedom at 5 % significance=6.49998

Inference: Calculated value (6.49998) is less than the table value (26.296), so null hypothesis is accepted (i.e.) there is no significant relationship between the experience and of the job secure of the respondents.

TWO WAY ANOVA 91


Two-way ANOVA analyzes one interval dependent in terms of the categories (groups) formed by two independents, one of which may be conceived as a control variable. Twoway ANOVA technique is used when data are classified on the basis of two factors and it may have repeated measurements of each factor or may not have repeated values

The following is an analysis of variance done to find out the relation between age of the respondents and satisfaction towards quantum of work allotted to the respondents Null hypothesis (H0) There is no significant difference in means of income of the respondents and opportunities of the respondents Alternate hypothesis (H1) There is a significant difference in means of income of the respondents and opportunities of the respondents

92


Computation for TWO WAY ANOVA to income of the respondents and opportunities of the respondents

Opportunities STRONGLY AGREE

AGREE

NEUTRAL DISAGREE STRONGLY DISAGREE

TOTAL

10

5

9

25

19

68

0

3

2

6

1

12

1

0

1

3

0

5

1

4

1

5

4

15

0

0

0

0

0

-

12

12

13

39

24

100

Income

3001-4000

4001-5000 5001-6000 6001-7000

Above 7000

TOTAL

93


Source of variation

SS

D.F

MS

F-Ratio

Between columns

110.8

(5-1)=4

27.7

27.7/-1014.4=

F(4,16)

-0.0273

=3.01

105.9/-1014.4=

F(4,16)

-0.1044

=3.01

Between rows

Residual errors

603.6

-300

(5-1)=4

(5-1) * (5-1)=16

Total

52

Calculation: 94

105.9

-18.75

-18.75/-1014.4= 0.0185

5% F-Limit


Step1 :T=100: n=25 Correction factor=T^2/n= (25) ^2/25 = 25

Step 2:Total SS= (10+5+9+25+19+0+3+2+6+1+1+1+3+1+4+1+5+4)-400 =100-400=-300

Step 3:SS Between column treatments = ∑ (Tj) ^2/ Nj- (T) ^2/n = (144/5+144/5+169/5+1521/5+576/5)-300 =

Step 4:SS Between rows treatments = ∑ (Ti) ^2/ Ni- (T) ^2/n = (4624/5+144/5+25/5+225/5+25/5)-25 = 1003.6

Step 5 :SS Residual or error = Total SS-(SS between columns + SS Between rows) = -300-(603.6+110.8) = -1014.4

Inference 95


The calculated value of between columns (48) is greater than the limit value at 5 % significant level (2.78). Null hypothesis is rejected (i.e.) there is significant difference between the income of the respondents and opportunities of the respondents. The calculated value of between rows (52) is greater than the limit value at 5% significant level (2.78). Null hypothesis is rejected (i.e.) there is significant difference between the income of the respondents and opportunities of the respondents. . .

WEIGHTED AVERAGE CALCULATION Statutory & Non-Statutory benefits 96


STRONGLY AGREE

FACTORS

AGREE

NEUTRAL

DISAGREE

STRONGLY DISAGREE

WEIGHTED AVERAGE

X

W WX

X

W

WX

X

W

WX

X

W

WX

X

W

WX

Salary/ Compensation

2

5

10

17

4

68

20

3

60

43

2

86

18

1

18

2.42

Leave Benefits

12

5

60

46

4

184

33

3

99

8

2

16

1

1

1

3.60

Health Related Benefits

12

5

60

39

4

156

35

3

105

14

2

28

0

1

0

Long-Term Care Insurance

12

5

60

64

4

256

13

3

39

11

2

22

0

1

0

Tuition Reimburseme nt

3

5

15

68

4

272

17

3

51

12

2

24

0

1

Deferred Compensation

9

5

45

63

4

252

13

3

39

10

2

20

5

EAP (counseling)

5

39

4

156

27

3

81

19

2

38

10

5

25

3.49

5

0

3.62

2

1

5

3.61

3

1

10

3.10

6

long-term care insurance is first rank; the tuition reimbursement is the second rank; deferred compensation is the third rank; leave benefits is the fourth rank; health benefits is the fifth rank; Employee Assistance Program is the sixth rank

97

4

1

It is inferred that satisfaction level of statutory and non statutory. The

FINDINGS

7

3.77

INFERENCE:

and salary/Compensation is the seventh rank.

RANK


PERCENTAGE ANALYSIS 1. 58% of the employees are belong to male category 2. There are 25% of the employees attained the age between the 36-45 years, 25% of the employees are attained the age between 18-25years and 50% of the employee are attained the age between the 26-35years. 3. 48% of the employees is below 1 year, 35% of the employees are between 1-3 years, 17% of the employees are between 4-6 years of experience. 4. 68% of the employees are Above Rs.4001-up toRs.5000 and 12% of the employees are Above Rs.5001-6000 and 5% of the employees are above Rs.6001-7000 and 15% of the employees are above 7000. 5. 17% of the employees said satisfied with their salary and compensation. 6. 46% of the employees said satisfied with their leave benefits. 7. 12% of the employees said to be highly satisfied &39% of the employees said satisfied in their health related benefits. 8. 64% of the employees said satisfied in the long term care insurance. 9. 68% of the employees said satisfied in their tuition reimbursement. 10. 63% of the employees said satisfied with their deferred compensation. 11. 39% of the employees said satisfied in Employee Assistance Program or Counseling 12. 49% of the employees say yes for the employees alternative work schedule. 13. 68% of the employees said satisfied with their Mentoring. 14. 48% of the employees said satisfied with their career planning 15. 49% of the employees said satisfied with their rewards and recognition. 16. 59% of the employees said satisfied with their job rotation and new assignments 17. 35% of the employees said satisfied and 27% of the employees said highly satisfied with their employee suggestion programs. 18. 35% of the employees said satisfied and 27% of the employees said highly satisfied with their training opportunities. 19. 43% of the employees said satisfied and 21% of the employees said highly satisfied with their annual performance. 20. 35% of the employees said satisfied and 58% of the employees said highly satisfied with their respect for employees in the organization. 21. 33% of the employees said satisfied and 49% of the employees said highly satisfied with their employee’s ideas. 22. 37% of the employees said satisfied and 41% of the employees said neutral with their job security. 23. 73% of the employees said satisfied and 23% of the employees said highly satisfied with their independency in their jobs. 98


24. 28% of the employees said satisfied and 35% of the satisfied with their fringe benefits. 25. 35% of the employees said satisfied and 35% of the satisfied with people employee talk. 26. 35% of the employees said satisfied and 45% of the satisfied with their superior getting their job done. 27. 12% of the employees said satisfied and 12% of the satisfied with opportunities for promotions.

CHI-SQUARE TEST

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employees said highly employees said highly employees said highly employees said highly


From this chi-square test it is clear that there is a significant relationship between the job security and experience of the respondents. According to the findings it clearly exhibits that the job security is good in the organization.

ANOVA TEST From this ANOVA test it is clear that there is a significant difference between the income of the respondents and opportunities of the respondents.

WEIGHTED AVERAGE From this Weignted Average testis clearly shoes the satisfaction level of statutory and non statutory. The long-term care insurance is first rank; the tuition reimbursement is the second rank; deferred compensation is the third rank; leave benefits is the fourth rank; health benefits is the fifth rank; Employee Assistance Program is the sixth rank and salary/Compensation is the seventh rank.

SUGGESTIONS

100


1. Employer and employee relationship can be enhanced by conducting weekly seminar and meeting. 2. Management games, and fringe activities, will give the team spirit and through can be held to build a good relation among employees. 3. The employer should make each and every employee realize their job security in Sundaram Industries ltd; this can be lead to build a positive relationship among the employees. 4. Organization Culture must be a path to enhance the relationship between employer and employee 5. Effective communication will result to reduce the barriers. 6. The grievance system should be monitor by the authorities in a periodical manner; this will give the best result in conflict management. 7. All the employees should be rewarded suitably

CONCLUSION

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Retention programs often fail because managers do not know and, therefore, do not act on the most important areas affecting an employee’s intention to leave. Across the organizations, individual development and career advancement stand out as both frequent and critical key drivers of any employee’s intent to leave. While the general conclusions across organizations may appear similar, at a more micro level, the composition and ordering of specific retention key drivers is unique to each company. In addition, the meaning attached to specific drivers (e.g., opportunities for personal growth and development) and, therefore, the actions to be taken may vary by organization. Before implementing targeted solutions to improve retention, managers need to determine which factors drive retention in their organization as well as the meaning of those drivers. Thus I conclude that this employee retention is very important task in an every organization to have retained the employees.

BIBLIOGRAPHY 102


Books:  “RESEARCH METHODOLOGY”, Kothari C.R, Websites:  www.bigbazaar.com  http://www.citehr.com/48275-executive-summary-n-conclusion-employeeretention-2.html#post222921

 Retention Review-From-Wikipedia  http://en.wikipedia.org/wiki/Employee retention  http://www.cs.ny.gov/successionplanning/workgroups/Retention/employeeretenti onreport.pdf

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A STUDY ON EMPLOYER EMPLOYEE RETENTION IN BIG BAZAAR