journal cover - 2 - Shakti Publication Internation - 2...Successful technopreneurs like Micro Soft's- Bill Gates, ... It is necessary that a good website design contains top quality

EDITORIAL BOARD CHIEF EDITOR

DR. PAVAN MISHRA Professor and Group Director

Rajeev Gandhi Management Institute, Bhopal INDIA

MANAGING EDITOR DR. SONIYA RAJPOOT

Lecturer Smart Ashok Technological Institute, Vidisha

INDIA

EDITORIAL TEAM

DR.SAMEER SHARMA Director

People's Institute of Management & Research, Bhopal, INDIA

DR.KAMRAN SULTAN Former Director

Pt. Jawaharlal Institute of Management Vikram University, Ujjain, INDIA

DR. MANORAMA SAINI Reader& Head, Humanities Department

Smart Ashok Technological Institute, Vidisha, INDIA

SAMEER ELWIN BHAGIRATHI 735 Queen Street East Toronto, Ontario,

CANADA

ADRIAN FARLEY Managing Director

Farley & Associates Ltd (UK Immigration Specialists), LONDON

MAHIMA AGOCHIYA Business Development, Advisor at McMaster

University Toronto, Ontario, CANADA

ADVISORY BOARD DR. ARUN K.TRIVEDI DR. P.K. MISHRA

Managing Director Professor Global Business Development Consultant C.R.I.M., Barkatullah University, Bhopal

At Vorse Solutions (UK) Limited, LONDON Ex-Vice Chancellor (DAVV. Indore), INDIA

DR. NAGESHWAR RAO Professor

Pt. Jawaharlal Institute of Management Vikram University Ujjain,

Ex-Vice Chancellor(Open University Allahabad), INDIA

DR. JAVAID AKHTAR Professor

Ex- Former Chairmen & Dean Department Business Administration, Aligarh

Muslim University, Aligarh , INDIA

DR. RAJ KUMAR Professor

Faculty of Management Studies Banaras Hindu University, Varanasi, INDIA

DR. VIVEK SHARMA Director

CRIM Barkatullah University, Bhopal, INDIA

DR. K.K. SAXENA Head & Professor

Deptt. of Management Studies IIT Kanpur, INDIA

DR. Y.S.THAKUR Head & Professor

Faculty of Management Studies Dr. Harisingh Gour University, Sagar, INDIA

DR. P.K. CHOPRA Director

VNS Institute of Management, Bhopal, INDIA

DR. L.P. PATERIYA Head & Professor

Deptt. of Humanities &Social Science Guru Ghasidas University, Bilaspur, INDIA

Vol-I, Issue-II, April- Sep. 2013 ISSN : 2319-5444

CHOOSING THE RIGHT PEN: INCLINATION OF STUDENTS DURING EXAMINATION

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Shakti International Journal of Management Research and Development

Managing Director Message

Dear Editorial board members, contributors and subscribers,

It's indeed a matter of great satisfaction, to persue the second issue of " Shakti International Journal of Management Research & Development".

There are a lot of challenges which the growing economies face in the realms of basic necessities in life. Management can play a very distinct role in bringing about such changes. It is very important that different stakeholders unite and collaborate on issues which confront the society. One of the key objectives of research should be its usability and application. This journal attempts to document and spark a debate on the research focused on Management in context of emerging geographies. The sectors could range from education, energy, environment, health care , transport, shelter, manufacturing and service areas. The key focus would however be the emerging sectors and research which discusses application and usability in societal or consumer context whether individual or industrial.

I would like to thank all the editorial team members, reviewers and initial team which has helped in making this journal a successful. We hope that the research featured here sets up many new milestones. We have had an overwhelming response from some very eminent Editors and researchers globally to support as Editorial Team. I look forward to make this Endeavour very meaningful.. I extend my congratulations and best wishes to all who have made their contributions as paper contributors and editors of this journal. Wish you all, the very best in future.

Devesh Arya Managing Director

Ret. Administrative Officer Samrat Ashok Technological Institute

(Engineering college) Vidisha (M.P.) INDIA

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CHIEF EDITOR

"Shakt i In ternat ional Journal of Management Research Development" is a refered journal it is published bi-annually.

Its objective is to accomplish lots of milestones in terms of defining and redifining paiadigms to achieve excellece in the area of Management Research.

Annual subscription and life (Next five years) is 3000/- in India and $300 for overseas Subscription. The detailed subscrption rate can be found in the website (www.shaktipublication.org) and also at the back of journal.

Views expresed in articale and paper are those of the respective authors. Neighter the journal not Shakti Publication can accept any responsibility for, nor do they necessarily agree with the views expressed in the article and paper.

All copy rights are respected. Every effort is made to, but shakti international journal of management research and development does not accept any responsibility for any inadveitent ommissinos.

Except as authorized, no part of the material published in Shakti International Journal of Management Research and Development may be reproduced or stored in any retrieval systems or used for commercial or other purposes. All right reserved.

Reprint service is available and copies may be obtained on prior permission for limited edition.

DR. PAVAN MISHRA CHIEF EDITOR

Prof. and Group Director Rajeev Gandhi Management Institute, Bhopal

INDIA

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http://www.shaktipublication.org


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AN EXPLORATORY STUDY ON TECHNOPRENEURS WITH SPECIAL REFERENCE TO PROFESSIONAL WEBSITES

DEVELOPERS IN TRICHY REGION

BY DR. J. MOHAN RAJ

Associate Professor, Department of Management Studies M.A.M. B-School, Siruganur,

Trichy- 621 105 Cell No. 9443770015

[email protected]

ABSTRACT:

Technopreneurs using the technology and designing of professional website to experts, executives and physical evidence in the expertise area help us to attract the customers. Nowadays service sector business environment was perfect market structure and everyone wants to compete with others by quality, price and communication. Professionals are accessing internet get the information for business planning and public usage were also increased and to received the services from the professional entity business.

KEYWORDS-Technopreneurs; Network; Market; Segmenting.

INTRODUCTION :

Technopreneurs is a person who dares to be different in carrying on the unexplored methods and passionate enough to succeed in the venture and life. They do things differently faces the challenges strive hard and get the success. They take every challenges and failures as important stepping stone and go ahead with a continuous improvement to do the things differently. Technopreneurship is a process of designing and engineering the prospect of him/her to the globe. Because this world is in the palm of every person so the person one who is having the skills of dynamic and challenging thoughts, innovative and creative global ideas, unending sources of information, cope-up with the technology and modernization, dare to face the failures and converting pains into gains only can afford to become as technoprenurs.

Successful technopreneurs like Micro Soft's- Bill Gates, Apple Computers- Steve Jobs, Google- Sergey Brin & Larry Page and Infosys- Narayanamoorthy. They have faced lot of troubles and his education is to solve real time problems made them as steps and the world to look upon them as technopreneurs. Thus when in a country there is going to be like this of technopreneurs that country's economy level will automatically raise up.

In the same way in India the technology entrepreneurs are booming up with their incredible ideas, converting them into new opportunities and solving the problems of young people. Government of India has started funding for the technological skills among the youngsters to solve the unemployment problems. Entrepreneur Development Cells in each Districts of the States, Promoted District Industries Centre in all the States, asking the banking sectors to provide / lend loan facility and subsidy to entrepreneurs, helping them to promote their products in the local & world wide market by SEZs in different states. New entrepreneurs and technopreneurs are coming up in our country to achievement of Vision 2020.

Profile of Trichirappalli District has more potential business opportunities in industrial sector and service sector. Majority of the Professionals in these region needed website for the business in terms of promotion recorded the activities and it is a physical evidence for the achievements in his field. Technopreneurs using market gap to start the venture by designing of websites to professionals in the district and future business projections through order processing and tap the regional target customers. Customers knowledge

mailto:[email protected]


gathering through internet and identify the best professionals for quality service.

OBJECTIVES :

- To Promote untapped creativity among innovators

- To promote financial assistance for technological innovators

- To assist the technopreneurs in networking and forge linkaging with other constituents of the innovation chain for commercialization of their developments

Innovators like technological entrepreneurs creativity play a vital role in promoting the products among the customers. So awareness of the creativity has to be made among the entrepreneurs and by that they have to become outstanding performers. In order to come to that position the untapped creativity ideas have to be kindled right from the entrepreneurs. Andrall E. Pearsopn (1989), reveals that the entrepreneurs have to constantly look for ways to change every aspect of their business like providing values for competitive performance in the working environment. Pamela McCauley (2013) differentiated the innovation in service sector and in the industrial sector.

Technopreneurs getting assistance form the banks and other supporting organizations for the undertaking ventures it will reduce the risk makes lot of different in the innovation. Jan W.Rivikin, Nicolaj Siggelkow (2006), and James B.Ang (2010) explore the technopreneurs, financial deepening and intellectual property protection on the accumulation of knowledge. Financial liberalization must benefit on the technological deepening.

Robert G King, Ross Levine (1993) endogenous growth model based financial systems evaluate prospective entrepreneurs, mobilize savings to finance the most promising productivity- enhancing activities. By this they have told that financial systems are important for productivity, growth and economic development.

Derek L.Hansen, Ben Shneiderman, Marc A.Smith (2011), highlighted new product or service the networking concepts of social media are very important in the technopreneurial activities and it has been brought out by that this new innovative brought out has to be sent to the passionate users of social media in the forms of e-mail, blogs, microblogs, Face book, Twitter and connected with link, public messages and in the competitive world positive thinking beyond the limit is a vital role. When an innovator starts to think outside of his organization his thinking level is being boosted up either by his influencers, family members, friends or even right form the consumers whom he has met.

A country which is trying to improve its economic conditions it must encourage the youngsters to become as technopreneurs. Here the government should create a platform between the Educational Institutions and to the Society. They must ask the youngsters to think that what is need it is taking place in the society? Which is more important and urgent? How can it be made? To whom we have to interact with related to this? Thus the government has to kindle the youngsters to think based on learning based economy.

IMPORTANCE OF PROFESSIONAL WEBSITES :

Today in this competitive environment having website for the business is a mandatory one. Because several companies have started to provide web based advertisements and by that they attract the customers towards their product and hit the market. So in this competitive world having the Professional Website is very mandatory one. But having website is not enough rather it should be Informative, Influenceive, Attractive, Catchy, Appealing, navigable and never forgettable. In order to sustain all these factors having well equipped web designers are needed. Well equipped designers only can provide the best Professional website for the company.

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Avail high quality web designing services that includes new website designing as well as redesigning websites. It is necessary that a good website design contains top quality graphics which gets loaded quickly; and is simple to navigate. Hence, you need to assure that your website is search engine friendly, suitable for many browsers, easy to navigate, fully optimized for faster downloads and even resolution compatible. Apart from this why that we have to go for the professional website is, everyone has started to go to net and started to carry on online purchasing, online payments, e-shopping and so on. So the electronic shopping method is been followed by the people. At this juncture it is the time to prepare for the company to go for the Professional website.

A professional web design company can design websites that are not only visually striking, but also highly functional. This adds a distinct element to your online presence, and serves as a marketing tool for your business. There are approximately 970 millions Internet users, 15% of the world's population. Thus it is a most efficient way to get potential customers from all over the world through internet marketing.

The importance of this professional website can be brought as following:

- It is a proven fact that an aesthetically designed website can promote your brand in an effective manner.

- The professional website designed imparts a long lasting effect and prompt web design services to can satisfy your marketing requirements at affordable rates.

- Today many people use the internet to buy and sell a wide range of products or services. Hence your website acts as the appropriate medium for performing online business. A good web design easily draws the attention of the potential customers and also enhances their interest in your website.

- Having a website means your business is open and reachable round the clock and throughout the year. Your web site is your online shop and it is open for 24/7. Website transmits your message in a few seconds.

- Websites have no boundaries as far as place or region or country is concern. It is international. If you have a website, then you have something international that overcomes the limits between countries and continents.

- Through website designing you will get identity, global presence and good business channel once you make entry in the World Wide Web and promote the website through web marketing.

- Business without website means you are running business without having your visiting card; you can say your website as your visiting card or business card. Thus based on these aspects the technopreneur has to learn more about the market, need to be flexible and willing to change the image of both the stakeholders and the product itself in the market.As a technopreneur identify the market for your product or services. Bring value proposition to the business. Start asking the question like To whom is this proposition of value? Will the proposition reduce costs? Will it add value to what is already out there? Will it serve as a replacement technology or eliminate the need for something? What is the potential market value of the proposition to investors? Thus they have asked the questions, make it simple, segment the market for their business, distribute the product and analyses the position.

Thus by all these methods the technopreneurs must bring social change by their ultimate objective of marketing and by their influence with the help of Target audience as their focus, segmenting the market, using the 4P's, analysing the competition and by monitoring the environment.

CONCLUSION :


Today customers are getting knowledge with the help of internet and access the professional personal information before purchasing the products or services. Professional website gives an identity for specialization and achievements in the field and makes use of the opportunity. Thus technopreneurs help the nation in the development and growth of the economy. Cost effectiveness for the professionals play a key role in business development activities and in their unique skill set of advertisement through websites for offering service to the customer. In the same way the technopreneurs must understand the importance of the Professional websites and design it to fulfill the professionals' expectations in Trichy region.

REFERENCES :

Andrall E. Pearson, "Institutionalizing innovation: Key activities for market leadership" in European Management Journal, Volume 7, Issue 4, Pp. 403-412 December 1989.

Annamaria Inzelt, "The evolution of university- industry-government relationships during transition" in Research Policy, Volume 33, Issues 6-7, Pp. 975-995September 2004.

Ben R Martin and Ron Johnston, "Technology Foresight for Wiring Up the National Innovation System: Experiences in Britain, Australia, and New Zealand" in Technological Forecasting and Social Change, Volume 60, Issue 1, Pp.37-54 January-February 1999.

Check-Teck Foo and Check-Tong Foo, "Socialization of technopreneurism: towards symbiosis in corporate innovation and technology strategy" in Technovation, Volume 20, Issue 10, Pp. 551 562 October 2000.

James B. Ang, "Financial Reforms, Patent Protection, and Knowledge Accumulation in India" in World Development, Volume 38, Issue 8, Pp.1070-1081 August 2010.

Jane M. Howell and Christopher A. Higgins, "Leadership behaviors, influence tactics, and career experiences of champions of technological innovation" in The Leadership Quarterly, Volume 1, Issue 4, Pp. 249-264, Winter 1990.

Jan W. Rivkin and Nicolaj Siggelkow, "Organizing to Strategize in the Face of Interactions: Preventing Premature Lock-in" in Long Range Planning, Volume 39, Issue 6, Pp. 591-614, December 2006.

Nikolaus Franke and Sonali Shah, "How communities support innovative activities: an exploration of assistance and sharing among end-users" in Research Policy, Volume 32, Issue 1, Pp. 157 178 January 2003.

Pamela McCauley Bush, "Why Innovation Matters Even More Today" in Transforming your Stem Career Through Leadership and Innovation, Pp. 19-34, 2013.

Paul Herbig and James E. Golden, "The wheel of innovation: in Technological Forecasting and Social Change, Volume 44, Issue 3, Pp. 265-282, November 1993.

Robert G King and Ross Levine, "Finance, entrepreneurship and growth" in Journal of Monetary Economics, Volume 32, Issue 3, Pp. 513-542, December 1993.

Stanley E. Fawcett, Stephen L. Jones, and Amydee M. Fawcett, "Supply chain trust: The catalyst for collaborative innovation" in Business Horizons, Volume 55, Issue 2, Pp. 163-178, March-April 2012.

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CHALLENGES OF HR MANAGEMENT IN MULTICULTURAL, MULTIRACIAL, DIVERSIFIED WORKFORCE IN SOME

MULTINATIONAL CORPORATIONS OF INDIA AND ABROAD

BY Ms. Richa Guru

Asst. Professor Management, Career Institute of International Management, Bhopal (M.P.), India

Email id : [email protected] Mobile no: +919584487873, 08390470431

ACKNOWLEDGEMENT

My Acknowledgement is to Mr. Manish Rajoria, Vice Chairman of Career Group, Bhopal who always encouraged me in my pursuit for excellence and Prof. Pradeep Jain, Director Career Group, Bhopal and Dr. Ajay Khare, Director CCM, Bhopal for guidance and support. My special thanks to Dr. B.D. Pandey, Professor, Sadhu Vaswani College, Bairagarh for their thoughtful and constructive comments and suggestions on this paper. I also thank Prof. Shakoor Khan Who Provided support and guidance in completing this research paper.

ABSTRACT

Recruitment and promotion policies promoting gender, age and ethnic equality are important ingredients of international HRM policies and practices by international collaboration across demographic and cultural boundaries for team formation in diverse communities and meeting challenges of reconciling conflicting identities. This advancement has been driven largely by globalization and sustainability imperative that have demanded continual innovation and creativity to establish competitive advantage and long term viability of interventional organizations.

As communities grow and develop it is assumed that individuals within the community gain an improved quality of life and usually economic measures are used to establish progress .A universal index of poverty, deprivation or quality of life is necessarily limited and proved unsatisfactory when personal circumstances are not fully understood in multicultural and multiethnic group workforce in multinational corporations.

Regarding research methodology and research design, the study is a qualitative one and analysis is based on the data collected by interviews and observation method. Interview questions which respondents replied

1) How to manage demand and supply of talent? Is talent hunt continuous should be there in organization?

2) What new responsibility should be there from HR to CEO in current changed business world?

3) How to manage change in working environment?

4) Is there need for tech smart workforce & CEO for enhancing quality of work life?

The responses have been tabulated analysed and interpreted and conclusion has been drawn for social relationships and professional networks across cultural and demographic boundaries.

The conclusion has been reached that new technology has been served as an enabling factor that has made it possible for human capital to be developed shared and applied in new ways and at an immense

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scale and pace collectively under the term the essentials for construction and redefinition of identities and inter identity empathy and communication for multicultural teams in the workplace. Multinational Corporation are the platform where different cultures, exposure to more varied social situations and attitudes towards religion are examples of diversity dimensions that are not visible on the surface and instead require inquiry to establish as areas for further research and practice.

KEYWORDS: International HR, Strategic Management, Multicultural, Multiracial, conflict Resolution.

INTRODUCTION

Human resource Management(HRM) Tradition has replaced the old conflict based bargaining as the roles of union and government have declined due to globalisation with its compelling competitive drive. This is because management have to be flexible and also the large presence of multinational corporations (MNCs) and their HRM Practices such as Total Quality Management (TQM), empowering, learning, and organizations have transposed the traditional approach to human resources.1990 and after words, it turned flexible and organic instead of bureaucratic and mechanistic. They introduced employment Practices that include a set of values and orientation like discipline, punctuality, meritocracy, rationality individualism, equalitarianism, risk taking, creativity inter personnel relationship. But last few years the country has been senior executives or violence and workforce resembled as a more than an important part of society as earlier.

Managing people at work is part of MNCs work culture. It was an Indo-Japanese Venture in Ghaziabad where HR Executive (having a gun licence) fired in the air to frighten mob of workers leading to general manager (GM) being beaten to death. As government competes for foreign direct investment (FDI) it finds union end conflict embracing in industry Forums. Hence a 1000 strong work force of GM General Motors of strike failed to get union registration till they were affiliated to one political party. Even for contract labour there is a proposal to mandate payment of wages in bank account. Stress the silent killer performance related pay, high pressure target, bell curve performance rating system has led to substance abuse.

Contrast the above with the allegations of discrimination based on gender being levelled against wall mart in the US Supreme Court. An Indian CEO was warned and fine being levelled on him by the European commission for the disturbing his European chief financial officer to prevent victimization.

REVIEW OF LITERATURE

IMPLICATIONS OF DIFFERENT COMPANY STRATEGIES AND STRUCTURES FOR INTERNATIONAL HRM

To operate in an international environment a human resource department must engage in a number of activities like, human resource planning, staffing, training and development, compensation, performance management and industrial relations. In this portion of literature review we will discuss the role of IHRM or implications for IHRM in context of different types of strategies and structures.

HUMAN RESOURCE PLANNING

We use the concept of HR policy in generic sense for a wide range of policies, procedures and processes, which aim at managing, discipline, motivating and rewarding employees in work organization. IHRM here link the understanding of HR policy to a wide range of company values & strategies, i.e. HR is more or less integrated in the company culture. It suggests that HR policy not only is a question about education and training of employees, but also aim at managing the relation between employer and employees and development of reflexive workforce (Kettunen, 1998). Moreover, it suggests, that success of HR policy is closely connected to organization and competence development.

The challenge is to establish an agenda that motivates employees to become involved and committed

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to company strategies. The main task of IHRM is making and implementation of HR programme which enable a firm to be successful globally.

STAFFING, RECRUITMENT, SELECTION AND PLACEMENT

The difference between failure and success depends how well organizations select, train and manage their employees. For international staffing Perlmutter's (1969) classic study has described three different approaches, ethnocentric, polycentric and geocentric. Companies follow ethnocentric staffing approach would mostly appoint parent company nationals. In this type of approach the nationals from parent company dominate the organisation at home and abroad. While companies follow the polycentric approach appoint mostly nationals from host countries, and companies follow geocentric approach appoint the best persons regardless of their nationality.

Now linking these different types of staffing approaches to Bartlett and Ghoshal (2000) organizational models as discussed earlier. Global and (up to some extent) international organisational models follow ethnocentric approach, multidomestic polycentric and transnational geocentric approach.

International HRM is concerned with ethnocentric staffing policy because in ethnocentric policy the recruitment and selection are made at headquarters and subsidiaries have limited autonomy. So, in global and international models the selection of expatriates, their training, preparation and placement for international role and the control of human resource in diverse and dispersed population of host countries is the main and crucial role of IHRM. In this processes the IHRM faces a lot of implications like cultural differences, communication problem, relocation and remuneration.

TRAINING AND DEVELOPMENT

Multinational companies recognize that human resources play an important role in developing and sustaining a competitive advantage in today's highly competitive global business environment (Brewster, 2000). The training and development of the human resources perform a variety of purposes such as to acquire and transfer knowledge, to manage foreign subsidiary and to maintain communication coordination and control between subsidiaries and headquarters. In global and a bit in international organisational models training originates at headquarters and corporate trainers travel to subsidiaries. To remain globally competitive the IHRM must identify employees with global potential and provide them various training and development opportunities. While in multidomestic and transnational organizational models the training and developments activities carry out on local basis.

COMPENSATION AND REWARD

After selection, training and development of employees, another implication for IHRM is how to compensate employees in multinational companies. International compensation can be defined as the provision of monetary and non monetary rewards, including base salary, benefits, long and short-term incentives, valued by employees in accordance with their relative contributions to MNC performance. Its broad HRM purpose is to attract, retain and motivate those personnel throughout the MNC currently and in the future (Harzing & Ruysseveldt, 2005). In multinational companies the IHRM is mainly concerned with the compensation and reward of employees in global and international structure models, because in global and international models the compensation and reward system is develop and administer in headquarters. While in multidomestic and transnational structures compensation and reward system is developed in different units and regulated by local HRM. Compensation and reward system for international expatriate is much more complex. The IHRM looks into various things like foreign services premium, hardship, relocation, education and home leave etc, when giving compensation to international expatriate.

PERFORMANCE MANAGEMENT


Performance management in different types of strategies and structures is another implication for IHRM. Performance management means systematic appraisal of employee's performance within an organization.

In multidomestic and transnational organizational models this is the duty of local HRM, while in global and (to some extent) in international models for performance management the IHRM uses different practice base on different theories like expectancy theory and goal setting theory. In MNC the performance management is more complex as it occurs across national and cultural boundaries.

INDUSTRIAL RELATION

Industrial Relation identifies and defines the roles of management and workers in workplace. Managing industrial relation is another task for IHRM. In global and a little bit in international models the IHRM manage the industrial relation taking into account the governmental regulations and role of trade unions in different countries.

In addition to these, international taxation, international relocations and language Problem etc are also some other important implications for IHRM.

OBJECTIVES OF THE STUDY:

1) To analyze the need of talent hunt for new responsibilities of HR people in contemporary changed business world.

2) To highlight the implication of management change in working environment with tech smart workforce.

METHODOLOGY

It is a qualitative study based on interviews of HRM personnel from various enterprises.

HYPOTHESIS:

1) Personnel value and work value of employees have an impact on the perception of productivity and efficiency.

2) Younger and older executives differ in their perception of satisfaction in extreme job conditions of workforce.

ANALYSIS OF STUDY:

The study is a qualitative one and analysis is based on the data collected by interview and observation method. Interview questions and replies given by HRM personnel are narrated as follows

Q1 How To Manage Demand And Supply Of Talent? Is Talent Hunt Continuous Should Be There In Organization?

Ankita shreeram (TOI Ascent) Feb 2013 said that job market is increasingly crowded and in an endeavour to identify and hire the perfect fit, organisations have to step up their efforts to stand out. Similarly Ganapathy remarked that," we have set up an employment interest station' at our lobby. We often participate in trade shows, conferences and have creative a referral network as well with the help of recent hires, colleagues and ex- employees". Statement of Amole pujari also represent same view in which he pointed out that,"

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existing employees are the best brand ambassador; they can act as a great source to propagate virtues of the organisation they have work with".

Ganesh, CEO of D&B narrated that, Organizations need to plan their recruitment strategy with similar care as they plan their marketing ones and therefore, it can't be left to HR alone. The senior management needs to build comprehensive strategies that define what kind of people they would like to attract, their key motivations, the organizations value preposition for target audience and the best channels to reach out to them" and he further said that at D&B we are concerned with the fundamental skills, aptitude and cultural fitment than the degree of resemblance in a candidate's current job profile, people have an amazing ability to acquire new skills, when given the right attitude. Such an approach can widen the talent pool for an organization. In this Globalization era HR Must constantly update their knowledge and of the changing desires and expectation of job seekers and accordingly demonstrate the organisation's pluses.Raghavendra K (TOI Ascent Feb 2013) ,pointed out that ,"We feel that individual look forward to much more than the hygiene factors of a competitive compensation package and working conditions. Some of the key parameters would be to identify an organization that will help them to become better individual, both professionally and personally, an organization takes care of its learning orientation, one that provides ample opportunities of both lateral and vertical growth and executes all employees' practices in a fair and transparent manner". There is a continuous need of talent hunt because in this Business focussed world every MNC is ready to cater talent for coping with Competition. Multinational corporations need proper planning of HR Practices like recruitment, staffing, T&D, working conditions and Compensation packages.

Globalization has compelled MNCs to give space to professionals, thus question was asked:

Q2 What New Responsibility Should Be There From HR To CEO In Current Changed Business World?

In Current Corporate Scenario there is need for good "people Managers" and there are many successful CEOs that were a good People Manager. More recent examples of Narayan Murthy,KV Kamnath,Deepak Parekh, Kumar Manglam Birla,Ratan Tata have displayed a heavy inclination towards human resources and "people Skills". Similarly Vineet Nayak Feb 2013 propagated the 'People First' philosophy and led HCL Technologies to newer level.

T.V. Rao (TOI Ascent) Feb 2013 classified HR Managers into five distinct categories based on the work they do. And he explained the reasons "Why most people in HR don't make it to the top because they have not groomed themselves to becoming HR-driven business manager ".he focus on making HR a business partner in his fifth level of HR classification. Here Managers realise that there can be no business without talented people at all levels and particularly at the top. They believe in the philosophy that people make business and therefore, "business-driven talent management is essential. The focus shift from tangible to intangible and from immediate and short term performance goal to building long term capabilities and from quarterly result to intellectual capital building and shareholder value enhancement.

Q3 How To Manage Change In Working Environment?

Narasimha Rao (TOI Ascent) Feb 2013 concurs, "While introverts suffer from underselling themselves, extrovert suffers from overselling themselves. Organization must take adequate care in applying systems in such a way that the real talent does not go unnoticed, regardless of the personalities." Rao also feels that organization should focus on developing their leaders to handle diversity effectively. MNCs must focus on this type of leadership which can get and utilize potential from their talent pool. Nagrajan Balanaga, (TOI Ascent) Feb 2013, said "Introvert typically derive energy from within; reflect upon their thoughts and resulting ideas for solutions have immense depth and value".

We can say invisible employees that need a particular type of leadership style which can make him valuable resource for organization and its growth .In globally competitive era organization need transformational


leadership style that can lead diversity of workforce in effective way.

Q4 Is There Need For Tech Smart Workforce & CEO For Enhancing Quality Of Work Life?

Narendra Bansal in an interview express that technology is vital in everyone's life in today time."I firmly believe in the power of technology towards enhancing the quality of life" further added.. And similarly Akhil Bansal also shared that "In any business communication is the key. Technology provides you ample sources of communication to enhance the business. Also it is important to keep pace with the ever evolving changes around us and use it for the benefit of the business In this context technology serves as a boon to enhance end user application which could engulf the masses with the click of a button as much as we have driven the search for technology. Today it derives us to cross frontiers that were once thought impossible and even improbable. He also said "Technology has paved the way for instant communication real time data and transmission of reports in stylish formats thus enabling uniformity across the Board". Many CXOs in India admit that they are tech -addicts and that they can't imagine what life would have been if technology hadn't come around in its various forms. Globalization force the MNCs towards tech smart workforce and CEO that can manage proper communication among employees and also can enhance quality of work life and can create more satisfaction towards job and working condition .There should be sufficient supply of Tech smart workforce and CEOs that can cope with rapid changes in technology because technology is greatly intertwined with the business.

CONCLUSION

HRM has crossed the early stage of development and through strategic IHRM a multinational company can achieve competitive advantage. In this literature review we have also discussed that the role of IHRM varies in different types of organizational structures and therefore the implications of these structures are also vary for international HRM.

In last section of this review we have prescribed some general implications of a company's different strategies and structures for IHRM and have discussed how IHRM faces these implications and manages the human resources worldwide.

AREAS FOR FURTHER RESEARCH:

There is ample scope for conduction qualitative and quantitative research on:

1) HR Management of Multinational and Multicultural workforce.

2) The changing scenario of International HRM -A post recession study.

3) HR Management of kumbh 2013(Religious Bath) at Allahabad.

4) International Business environment in service sectors.

REFERENCES:

Church, A., and Waclawski, J. 1998. The relationship between individual personality Orientation and executive leadership behaviour, Journal of Occupational and Organizational Psychology 71(2), 99-125.

Current Issues in International Business, Edward Elgar, Cheltenham 1997. Hennart, J.F. (2008 The Future of Multinational Enterprise," Netherland, Academy of Management Annual Meetings.

Distefano, J.J., Maznevski, M.L., 2000. Creating value with diverse teams in global management. Organization Dynamics 29 (1), 45-63.

D.I.; Bass, B.M.; and Sosik, J.J. 1995. Bridging leadership and culture: A theoretical consideration

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of transformational leadership and collectivistic cultures, The Journal of Leadership Studies 2(No. 4), 3-18.

Dorfman, P. 1996. International and cross-cultural leadership, In: Punnett, B.J., and Shenkar,O., eds., Handbook for International Management Research, MA: Blackwell Publisher, 267-349.

Doz Y, Santos J, Williamson P. 2001. From Global to Metanational: How Companies Win in the Knowledge Economy. Harvard Business School Press: Boston, M A.

Doz, Y.,Wilson, K., Veldhoen, S., Altman, G., 2006. Innovation: Is Global the Way Forward? A joint study by Booz Allen Hamilton and INSEAD.

http://www.boozallen.com/media/file/Innovation_Is_Global_The_Way_Forward_v2.pdf.

Kotter, J.P. (1990b), "What leaders really do", Harvard Business Review, Vol. 68 No. 3, pp. 103 12.

Organization Behaviour, K. Aswathappa, Himalaya Publishing House.

Pucik, V. (1992), "Globalization and human resources management", in Pucik, V., Tichy, N.M. and Bennett, C.K. (Eds), Globalizing Management. Creating and Leading the Competitive Organization, Wiley & Sons, New York, NY.

Roberts, K., Kossek, E.E. and Ozeki, C. (1998), "Managing the global workforce: challenges and strategies", Academy of Management Executive, Vol. 12 No. 4, pp. 93- 119

Stopford, J.M., Wells, L.T. (1972) Managing the Multinational Enterprise: Organization of the firm and ownership of the subsidiaries, New York, Basic Books.

Times of India,Ascent,Feb 2013.

http://www.boozallen.com/media/file/Innovation_Is_Global_The_Way_Forward_v2.pdf


INTERNATIONAL ENVIRONMENTAL AGREEMENTS (IEAS) & THE FREE RIDER ISSUE

BY Dr. Arun Kumar Trivedi

Strategic Business Consultant,India and UK www.globaltrivedis.com

Ankita Trivedi Independent Analyst in Sustainable and Responsible Investments, India and UK

International Environmental Agreements (IEAs) as the name suggests are formed internationally to tackle global problems. Since there is no global government to intervene, IEA's are prone to free-rider problems. The global environmental climate change problem is an appropriate example.

The climate around us is changing. According to the sources, the average temperature on the planet has increase by 0.74 degrees Celsius and the sea level has risen by 10 centimetres since 1990. It is a problem that is not bound to one region, country or continent specifically but affects each and everyone living on the planet earth. Since it has so many agents involved, reaching a consensus can be challenging to say the least. International agreements are analogous to contracts in domestic law: they merely stipulate what the parties to them must and must not do. In order to reach a mutually beneficial decision, there are lots of viewpoints that need to be considered. IEAs are difficult to establish since the countries might have conflicting interests. One nation's development might be hampered by the decision another nation would like to take. A third party cannot enforce international agreements, unlike contracts. They must be self-enforcing. Here, we look at the role of IEAs, the need for them and the problems faced. In this article an effort has been made to examine various ways to deter the problems and draw conclusions.

IEAs involve five stages: Pre-negotiation, Negotiation, Ratification, Implementation and finally Re-negotiation. The process is complex and not linear. International environmental agreements generally deal with public goods. The problem being, such resources are shared resources between people and communities and are bound to be over exploited. The agreements therefore, will rely on volunteerism. Game theory provides tools for increased understanding of the way international agreement is reached. Public choice theory on the other hand, suggests that proper understanding of institutional settings allows for relatively straightforward net-benefit maximising models to account for a rich and complex range of policy outcomes such as government negotiations during international agreements.

There are various kinds of International Environmental Agreements- Chemical Weapons Convention, Kyoto Protocol, Montreal Protocol, Western Regional Climate Action Initiative and others. It is important to observe that some prove to be successful while others don't. The Montreal Protocol is the most successful IEAs while there are others like Coral Reef Management, which do not even account in the political agenda. One of the reasons suggested is that the IEAs needing the least effort from participating agents are most successful. It is the law of least ambitious program- where international management can be established only through agreement among all significant parties involved, and where such a regulation is considered only on its own merits, collective action will be limited to those measures acceptable to the least enthusiastic party.

Here an important question is why are International Environmental Agreements needed? As it has been mentioned earlier, IEAs deal with global problem that are either public goods or common resources. Open access areas that are not owned by any one individual, company or country face a lot of problems e.g. a forest area. This resource is likely to be over used as there is no extra cost of using the resource and the

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consequence cannot be easily blamed on any one party. Since the resource is not owned there are no property rights and so maintaining it is in nobody's interest. There is no incentive to do so. This results in market failure. Secondly, it has often been seen that especially in developing countries, government fails to regulate and maintain the environment. Even if property rights are assigned, corruption and bribery are more tempting to the state because they provide immediate gains i.e. increase in monetary wealth while maintaining the environment is a long-term goal. Thirdly, there is the problem of transboundary pollution wherein damage is done in or by one nation but the cost is borne by another. It is difficult to establish costs and who exactly to blame if for example air pollution is created in an oil fired power station in country 'A' but transports thousands of miles away to country 'B' and people in country 'B' are affected.

This problem is also linked with globalisation which links nations together to trade goods and services and so during the process of production and transportation a lot of pollution is created which floats around in different directions. All these problems call for a solution and IEAs are often seen as interventions that can prove to be potential solution agreements.

Lastly, there is the thought of sustainable development and to care for future generations. In order to make sure the future generation has enough resources to use, we have to control and manage our resources at present.

The problem of free riding exists when someone/some country consumes more than their fair share of a public resource. It also exists when it bears less than a fair share of the costs of production. It often leads of non-production or under-production of the public good or over use of common property resource. In other words, it results in Pareto inefficiency. In relation to International Environmental Agreements, the free riders are those agents who do not ratify a cutting down of carbon emissions, for example, but gain from the overall reduction done by other nations. It is better for a country not to participate in an IEA that other countries all sign up to because non-participating incurs no costs yet still benefits. The problem being that net benefits or pay offs of remaining participants might have altered. Nations need to be provided with specific incentives to join in and not free ride. They can be either carrots (side payments) or sticks (enforcement). Deep agreements will always be more difficult to agree on than broad agreements and hence free riding can be a problem in the former type.

The problem of free rider can be deterred in a few ways if not many. It can be prevented by making the agreement non-participant in such a way that it is undesirable to remain outside the agreement. Trade sanctions are most frequently used in such cases. The net benefits in should exceed the net benefits out. Making the agreement non-compliance in a way that penalties are credible can also prevent the free rider problem. Leakages should be avoided or entry of new participants must be examined critically. Enforcement is another way to deter the free rider problem and is seen to be an important one. It requires credible enforcement mechanisms like carrots-incentives or sticks-punishment. Issue linkage and side payments are carrots of the enforcement mechanism. Linking IEAs to another issue with excludable benefits is known as issue linkage. Debt for nature swap is a well-known example of such a mechanism wherein developing countries that owe a lot of money to developed countries can swap the debt on the agreement of conserving their natural resource which very often they have in abundant but is tempted to destroy on their way to development. Side payments do not necessarily have to be monetary. It is the payment that the victim pays to the polluter for the costs it incurs in abating pollution. It can be seen as the opposite of polluter pays principle. On the other hand, trade restriction is the stick of the enforcement mechanism. It deters the free rider problem by punishing the nation who free rides. Trade restrictions can be enforced to protect the regional and global environment. However, lifting the threat of trade restrictions may reduce the effectiveness of these alternatives. There are other alternatives like exclusion from participating in meetings, denying further loans and suspending technical aid. However, it is important to mention that the encouragement of creation of incentive mechanism to ensure participation and compliance is a major challenge for parties negotiating IEAs. Multiple agreements together might prove a bigger incentive for countries to join in and not free ride as at least one issue might be important


for each nation. Stressing the logic of collective action continuously can also prove the point of free rider problem and draw countries to participate in the agreement instead of free riding.

Therefore, to conclude, the issue of free riding is bound to be around as long as International Environmental Agreements exist due to the sheer nature of agreements. The agreements are difficult to establish due to various domestic and international factors. At the end of the day, only agreements that are politically feasible will be internationally co-operated. There is no world government to intervene and the agreements are voluntary in nature. There are incentives to free ride not just for developing countries but also for anybody and everybody. However, effective enforcement and monitoring along with non-participatory and non-compliance incentives, the problem can be reduced to minimum if not eliminated or be deterred. Restricting underlying incentives and restructuring relationships among countries in a mutually preferred way (debt for nature swap) can prove to be successful. Besides these ways- providing a reason for all countries to come together to bargain, provide incentives for all parties to comply with the agreement and deter third party entries are also ways to dissuade the free rider problem.

REFERENCE

Barrett, S. (2005b) Environment and Statecraft, Oxford University Press, Oxford

Bretteville-Froyn, C. (2007) "International Environmental Cooperation: The Role of Political Feasibility", in Atkinson, G. et al. (eds.) Handbook of Sustainable Development, Edward Elgar, Cheltenham.

Dimitrov, R.S. (2005) Science and International Environmental Policy (Lanham: Rowman & Littlefield)

http://www.direct.gov.uk/en/Environmentandgreenerliving/Greenerlivingaquickguide/DG_072885

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A STUDY ON THE IMPORTANCE OF EMPLOYEE RETENTION STRATEGIES WITH SPECIAL REFERENCE TO BIG BAZAAR, BANGALORE

BY Geetanjali Sharma Assistant professor

Management Department, New Horizon College of Engineering, Bangalore [email protected]

ABSTRACT:

HRM came to prominence during the 1980's when it became apparent that traditional management styles could no longer remain in an ever changing business environment. Out went the evolving business needing strategies.HRM is all about the need to utilize employee as the most vital resource of any business, and how they must be used to gain competitive advantage in the market place. The success or failure of a company in today's competitive environment depends to a great extent on the quality of human resource possessed at a particular point of time. There are companies which are called super performance such as Infosys, Wipro, Bio-con, Dr. Reddy's Lab, Ranbaxy, Glaxo and host others while there are certain others companies which are called poor performance HRM came to prominence during the 1980's when it became apparent that traditional management styles could no longer remain in an ever changing business environment. Out went the evolving business needing strategies.

HRM is all about the need to utilize employee as the most vital resource of any business, and how they must be used to gain competitive advantage in the market place.

The success or failure of a company in today's competitive environment depends to a great extent on the quality of human resource possessed at a particular point of time. There are companies which are called super performance such as Infosys, Wipro, Bio-con, Dr. Reddy's Lab, Ranbaxy, Glaxo and host others while there are certain others companies which are called poor performance.

The paper examines the importance of employee retention strategies adopted by companies in order to have competitive edge over other firms. The paper analysis the impact of retention strategies adopted by big bazaar ,Bangalore Future group.

KEYWORDS : Tradional management,Business startegies,Empyee retention,Competitive advantage.

INTRODUCTION:

In Today's competitive environment, organizations' are learning organizations', where knowledge is created, disseminated, shared and utilized for the overall benefit of the organization and individuals. The companies' effectiveness completely depends on its people.

The corporate world, in any country, is emphasizing on the health of human resource employed in their organization. The employees are treated as an important asset in the organization and the rules of the "human resource management" and "human resources" (HR) have largely replaced the term "personnel game have changed for the better and such is the momentum and significance acquired by HR. The terms management" as a description of the processes involved in managing people in organizations

HRM is the strategic and coherent approach to the management of an organization's most valued assets - the people working there, who individually and collectively contribute to the achievement of the



objectives of the business.

The Human Resources Management function includes a variety of activities and key among them is deciding what staffing needs exist and whether to use independent contractors or hire employees to fulfill these needs; recruit and train the best employees, ensure they are high performers; dealing with performance issues; and ensuring the personnel and management practices conform to various regulations. Activities also include managing the approach to employee benefits and compensation, employee records and personnel policies. HRM is seen by practitioners in the field as a more innovative view of workplace management than the traditional approach. Its techniques force the managers of an enterprise to express their goals with specificity - so that they can be understood and undertaken by the workforce - and to provide the resources needed for them to successfully accomplish their assignments. As such, HRM techniques, when properly practiced, are expressive of the goals and operating practices of the enterprise overall. HRM is also seen by many to have a key role in risk reduction within organizations.

The HRM function and HRD profession have undergone tremendous change over the past 20 to 30 years. Many years ago, large organizations looked to the "Personnel Department" mostly to manage the paperwork around hiring and paying people. More recently, organizations have begun to consider the "HR Department" as playing a major role in staffing, training, and helping manage people so that the people and the organization are performing at maximum capability in a highly fulfilling manner.

EMPLOYEE RETENTION:

Effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed, by having policies and practices in place that address their diverse needs. A strong retention strategy, therefore, becomes a powerful recruitment tool.

Retention of key employees is critical to the long-term health and success of any organization. It is a known fact that retaining the best employees ensures customer satisfaction, increased product sales, satisfied colleagues and reporting staff, effective succession planning, and deeply embedded organizational knowledge and learning. Employee retention matters as organizational issues such as training time and investment, lost knowledge, insecure employees, and a costly candidate search are involved. Hence, failing to retain a key employee is a costly proposition for an organization. Various estimates suggest that losing a middle manager in most organizations costs up to five times his salary.

Intelligent employers always realize the importance of retaining the best talent. Retaining talent has never been so important in the Indian scenario; however, things have changed in recent years. In prominent Indian metros at least, there is no dearth of opportunities for the best in the business, or even for the second or third best. Retention of key employees and treating attrition troubles has never been so important to companies.

In an intensely competitive environment where HR managers are poaching from each other, organizations can either hold on to their employees tight or lose them to competition. For gone are the days when employees would stick to an employer for years for want of a better choice. In India, there are few sectors where the attrition level is much larger compared to other sectors, for example, IT sector and BPO; whereas, there are organizations like Air India, HAL, DRDO, BARC where the attrition is much lower - nearly 5% or less than that.

Clearly, the only way out is to develop appropriate effective retention strategies.

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THE IMPORTANCE OF RETAINING EMPLOYEES:

The challenge of keeping employees, its changing face has stumped managers and business owners alike. How do you manage this challenge? How do you build a workplace that employees want to remain with and outsiders want to be hired into? Successful managers and business owners ask themselves these and other questions because, simply put, employee retention matters.

High turnover often leaves customers and employees in the lurch; departing employees take a great deal of knowledge with them. This lack of continuity makes it hard for the organizations to meet their goals and serve customers well.

Replacing employee costs money. The cost of replacing an employee is estimated at up to twice the individual's annual salary (higher for positions based on their level within the inter-organizational hierarchy, such as middle management) and this does not even include the cost of lost knowledge.

Recruiting employees consumes a great deal of time and effort, much of it futile. There is not just one organization out there vying for qualified employees, and job searchers make decisions based on more than the sum of salary and benefits.

Bringing employees up to speed takes even more time and when an organization is short-staffed, they often need to put in extra time to get the work done.

Furthermore, an employer who implements the three R's will create a hard-to-leave workplace, one known as having more to offer employees than other employers. It becomes a hard-to-leave workplace -one with a waiting list of applicants for any position that becomes available - purposefully, one day at a time.

Literature review

Fostering employee commitment can have a great impact on decreasing turnover rates. "Research shows commitment has a positive effect on productivity, turnover and employees willingness to help co-workers" (Bishop, 1997, p. 4). In fact, increased employee commitment has been shown to improve team performance and productivity and decrease absenteeism, turnover, and intention to quit.

However, companies can take action to ensure that these increasing trends are minimized within their own individual cultures. Therefore, strong retention strategy must be implemented. Byrnes (2002) notes that there are five essential steps for a company to develop an effective retention strategy. First, a corporate values system must be defined based upon the organization's values and vision. These values must guide the company and identify those employees desiring to move in the same direction. Next, trust must be established within all parts of the business. "Security comes from trust and trust comes from honesty and communication. The bottom line is that employees want to know their employer will be straightforward with them. Establish a process for sharing important information related to your business with your employees" (Byrnes, 2002, P. 4).

Third, assess employee priorities through surveying. The answers will allow an organization to structure effective reward programs, thus increasing employee satisfaction. Fourth, Byrnes recommends doing industry homework. Companies need to understand competitors'' compensation and benefit programs. Finally, the creation of a compensation and benefit package, supportive of company values and employee needs, is essential Increasing Employee Motivation Contrary to modern belief, monetary compensation is not the highest employee motivator. According to the Harvard Management Update (June, 1988), "nine of ten managers think people stay or go because of money. We know that's not the case. Money and perks matter, but employees


tell us again and again that what they want most are challenging, meaningful work, good bosses, and opportunities for learning and development" (as cited in Kaye, 2000, p. 9). Modern corporate structure has become so multi-layered that often employees do not ever see the fruit of their labors. Newstrom and Pierce (2002) agree: "Companies are being stymied...often by their own structure. McKinsey studied one company where the new product process required 223 separate committees to approve an idea before it could be put into production" (p. 113).

(Clarke, 2001). Clarke highlights that "...a pat on the back or a word of praise after they have worked hard to deliver for the company goes a long way toward building individual and group morale" (p. 1). Paris (2002) agrees, stating that "...incentives provide the 'golden handcuffs' that keep employees from getting away" (p. 52)

TITLE OF THE STUDY:

"A study on the Importance of employee retention startegies with special reference to Big Bazaar ,Bangalore"

NEED OF THE STUDY:

The study was mainly conducted to identify what are the retention strategies that have been adopted by Big Bazaar to retain their employees in the organization, and to know whether the employees are aware of the retention measures undertaken by Big Bazaar and the employees opinion.

OBJECTIVES OF THE STUDY:

To identify the causes of attrition in big bazaar

To understand the retention policy of big bazaar

To identify the challenges to retain the employees.

RESEARCH METHODOLOGY:

METHOD OF RESEARCH- Description research was used.

TOOLS USED FOR DATA COLLECTION: A questionnaire was structured together the primary information.

SOURCES OF DATA COLLECTION:

The data has been collected from both primary and secondary methods have been used in collecting data from BIG BAZAAR.

PRIMARY DATA- It was collected by interviewing the HR manager and randomly to the employees of the company. The data was collected through personal interview with the employees of the organisation. Discussion was held in a day's time with the employees.

SECONDARY DATA- it was collected from,

General library research source like HRM book.

Advertising journals like magazines and newspaper.

Internet: Big Bazaar website, Naukrihub.com, managementparadise.com, ibef.org,

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http://Naukrihub.comhttp://managementparadise.comhttp://ibef.org


business.mapsofindia.com,cnbc.com.

TOOLS AND TECHNIQUES:

The first hand information was collected by interviewing the HR manager regarding the strategies followed by the company to retain and motive the employees to stay in the company.

A questionnaire was formulated and circulated to the employees of the company. Hence the survey method is the tool used here for data collection.

SAMPLING DESIGN:

Sample unit: Employees working in BIG BAZAAR in Lido Mall

Sample size: 60 employees

Sampling technique: Random sampling

Sampling method: Probability sampling

Place of study: Lido Mall, Bangalore

ANALYSIS AND INTERPERTATION

A. TABLE SHOWING THE OVERALL EXPERIENCE OF EMPLOYEES IN THE INDUSTRY

Sl. No Particulars No. of respondents Percentage

1 Good 34 57

2 Satisfactory 8 13

3 Normal 6 10

4 Ok 12 20

Total 60 100

ANALYSIS:

The above table showing the overall experience in the industry of respondents, indicate that 57% of the respondents are have a good experience,13% of the respondents have a satisfactory experience, 10% of the respondents have a normal experience, 20% of the respondents are ok with the industry experience.

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GRAPH: 1

SHOWING THE OVERALL EXPERIENCE OF EMPLOYEES IN THE INDUSTRY

Overall industry experience

Good

Satisfactory

Normal

Ok

INTERPRETATION:

Job satisfaction also depends upon the number of years of experience. The above question was put forward to find out the overall industry experience and found that 57% of the employees have high industry experience, which also lead to their satisfaction level.

B. TABLE SHOWING THE VALUE ADDITIONAL FACTORS FROM THE COMPANY TOWARDS EMPLOYEES CAREER

Sl No. Particulars No. of respondents Percentage

1 Yes 30 50

2 No 27 45

3 Somewhat 3 5

Total 60 100

ANALYSIS:

The above table showing the value additional factors towards respondent's career indicates that 50% of the respondents have value additional factor towards their career, 45% of the respondents do not have any value additional factor towards their career, 5% of the respondents feel that there is somewhat value additional factor towards their career.

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Yes

No

Somewhat

INTERPRETATION:

Employees join organization in the belief that the company where they are working would provide them with opportunities for value additional factors towards their career and provide opportunities for their overall development in the industry, the above question was put forward to identify whether the employees have opportunities for a enhanced development in their career, it was identified that 50% of the employees have a better career development support from Big Bazaar.va

C. TABLE SHOWING THE REASON FOR JOINING BIG BAZAAR


1 Good job 10 17

2 Good company 19 32

3 Timings 7 12

4 Good future 8 13

5 To earn and learn 2 3

6 Salary 9 15

7 Better option 4 7

8 Good service for customer 2 3

Total 60 100

ANALYSIS:

The above table showing the reasons why employees joined Big Bazaar, indicates that 17% of the employees joined because of good job, 32% of the respondents joined because of good company name, 12% of the respondents joined because of timings, 13% of the respondents joined for good future, 3% of the respondents joined to earn as well as learn, 15% of the respondents joined because of good salary, 7% of the

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GRAPH: 2

SHOWING THE VALUE ADDITIONAL FACTORS FROM THE COMPANY TOWARDS EMPLOYEE'S CAREER

Value a d d i t i o n a l fac to r t o w a r d s career

5%


respondents joined because this was a better option, 3% of the respondents joined because the company provides good service to the customers.

GRAPH: 3

SHOWING THE REASONS FOR JOINING BIG BAZAAR.

INTERPRETATION:

Employees join organization for various reasons. The above question was put forward to find out the reasons why employees joined Big Bazaar and found that 32% of the employees have joined Big Bazaar because of the good brand image that it has built for itself in the market.

D TABLE SHOWING WHETHER THE EMPLOYEES ARE PROVIDED OPPORTUNITIES FOR PERSONAL DEVELOPMENT


1 Good 47 78

2 Average 9 15

3 Poor 4 7

4 Very poor 0 0

Total 60 100

ANALYSIS:

The above table showing whether the employees are provided opportunities for personal development indicates that, 78% of the respondents have good opportunities for personal development and 15% of the respondents have average opportunities for personal development and 7% of the respondents have poor opportunity for personal development.

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Good job

Good company

Timings

Good future

To earn and learn

Salary

Better option

Good service

INTERPRETATION:

Employees desire for opportunities for their personal development from their professional life. The above question was put forward to identify whether the employees are provided opportunities' in their job at Big Bazaar for a personal development and it was identified that 78% of the employees are been provided opportunities for a personal development.

E TABLE SHOWING THE MOTIVATIONAL FACTOR FOR WORKING IN BIG BAZAAR


1 Time 12 20

2 Money 25 42

3 Environment 20 33

4 Others 3 5

Total 60 100

ANALYSIS:

The above table showing what are the motivational factors are indicate that, 20% of the respondents are motivated due to the flexible timings, 42% of the respondents are motivated due to the salary, 33% of the respondents are motivated due to the working environment and 5% of the respondents are motivated due to opportunities like learn and earn factor.

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GRAPH: 4

SHOWING WHETHER THE EMPLOYEES ARE PROVIDED OPPORTUNITIES FOR PERSONAL DEVELOPMENT


GRAPH: 5

SHOWING THE MOTIVATIONAL FACTOR FOR WORKING IN BIG BAZAAR

Mot iva t iona l factor

Time Money Environment Others

INTERPRETATION:

Employees are motivates to stay in organisation for various reason. The above question was put forward to identify the major factor that motivates employees to stay in Big Bazaar. It was identified that 42% of the employee's motivational factor to stay and work is the salary factor

FINDINGS :

1 It was found that the retention strategies adopted by the employers and managers in big bazaar included :

A . Value additional factors which contributed towards their career development.

B Motivational factors which included time, monetary benefits and good working environment.

C .opportunities' available for personal development and growth..

2 The employees working in Big Bazaar have a good experience working in Big Bazaar and their overall experience working in the retail industry is also satisfactory.

3 Majority of the employees have been associated with Big Bazaar over and above six months as the Big Bazaar situated in Lido mall was started on May 28th of 2010.

4 The attrition rate in Big Bazaar has come down from 15% to 9% from the date of its commencement.

5 Majority of the employees working in Big Bazaar are fully committed to stay and grow in Big Bazaar for a long period of time and are satisfied with their job role.

6 Majority of the employees are been supported by Big Bazaar for their enhancement in their career.

7 Majority of the employees are satisfied with the supervision and feedback provided on their work as its provided opportunity for personal development and advancement in their job position.

8 Majority of the employees are motivated to stay in Big Bazaar due to the salary factor and the support

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CONCLUSION:

Big Bazaar is one of the top retail player in India. It has its presence nationwide and has around 145 stores as of January 2011. The company mainly attracts people by the reputation earned over the years. The reputation enjoyed by the company is responsible for motivating the effective personal's to enter into the organisation and contribute to the growth of Big Bazaar.

The HR division provides service in recruiting the right candidates and initiating activities to retain the employees in Big Bazaar. The HR division has worked on reducing the attrition rate and has successfully ensured in bringing down the initial attrition rate from 15% to present 9% in Big Bazaar which is located in Lido Mall.

The study was carried on to identify the retention strategies adopted by Big Bazaar and the employee's opinion on it. It was identified that majority of the employees were not aware of the retention steps undertaken by Big Bazaar to retain its employees. But the employees working there enjoy their work and are satisfied with their job role

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that it is providing to its employees to earn and learn through Shiksha program.

SUGGESTIONS:

The company can provide the employees with non-monetary benefits as incentives.

The company should give more importance for the referral program as it would motivate the employees to refer a friend to join Big Bazaar and some form of incentives been given to the current employee.

To initiate activities where there can be interaction among the employees between departments for better work environment.

The company should conduct exit interview for employees to know the reason why they are leaving Big Bazaar and identify any reasons that would motivate them to stay back in Big Bazaar.

To have rotational shift for the employees as its one of the reason why the employees are leaving Big Bazaar.

Big Bazaar should motivate the employees to enroll themselves to the SHIKSHA program, as this would benefit them in completing their education and also retain employees for a long period of time in Big Bazaar.

The company should provide weekly awards for the employees for their overwhelming performance and reward them with some coupons.

The company should create awareness regarding the retention policy and the activities done by Big Bazaar to satisfy the employees and retain them in Big Bazaar.

There must be regular feedback done from the employees to know their opinion regarding the work so as to reduce the attrition rate form the present rate of 9%.

To conduct activities where the employees feel that Big Bazaar is very much concerned towards their employees and their well being during their period of work in Big Bazaar


REFERENCES :

BOOKS

Robert A Baron and donn Byne,social Psychology understanding human interaction, Prentice Hall.

R.S Diwedi human relations and organizational behavior,oxford and IBH publishing Co ,Pvt .Ltd ,3rd edition.

Uma sekran:Organizational behavior,Tata Mcgraw Hill.

V.S.P. Rao, Human resource management, Excel books, New Delhi, second edition 2009.

WEB - RESOURCES

http://www.wikipedia.com

http://www.bigbazaar.com/

http://www.chillibreeze.com

http://www.indianground.com

http://retention.naukrihub.com

http://www.citehr.com

http://www.managementparadise.com

http://www.ibef.org/industry/retail.aspx

http://business.mapsofindia.com/india-gdp

http://www.cnbc.com/Retail_s_Hottest_Emerging_Markets_2010

http://csi.mckinsey.com

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http://www.wikipedia.comhttp://www.bigbazaar.com/http://www.chillibreeze.comhttp://www.indianground.comhttp://retention.naukrihub.comhttp://www.citehr.comhttp://www.managementparadise.comhttp://www.ibef.org/industry/retail.aspxhttp://business.mapsofindia.com/india-gdphttp://www.cnbc.com/Retail_s_Hottest_Emerging_Markets_2010http://csi.mckinsey.com


RECRUITMENT AND SELECTION PROCESS WITH REFERENCE TO RECRUITMENT CONSULTANCIES

BY Barkha Gupta

Assistant Professor UIT-RGPV, Bhopal (M.P.)

[email protected]

ABSTRACT :

As we know that recruitment has been regarded as the most important function of personnel administration, so for that private agencies and consultancies is a good source of recruitment. This study has helped me to understand what is a consultancy and what work they done. They are expert or professional advisor and they have ability to consult other. Job description and typical work activities are the main activities that are performed by the recruitment consultant.

My study is based on primary and secondary data both. The main objective of the project is to study the recruitment and selection Process in "excel consultancy services (An ISO 9001: 2000 company)". This study help to understand how they recruit and select the candidates for the clients and satisfy the client's need for provide them good candidates. For the research paper I gathered the main information by primary data.

KEYWORDS- Recruitment, Selection, Recruitment process, Recruitment consultancy

INTRODUCTION-

The human resources are the most important assets of an organization. The success or failure of an organization is largely dependent on the caliber of the people working therein. Without positive and creative contributions from people, organizations cannot progress and prosper. In order to achieve the goals or perform the activities of an organization, therefore, we need to recruit people with requisite skills, qualifications and experience. Recruitment is understood as the process of searching for and obtaining applicants for jobs, from among whom the right people can be selected . Many human resources practitioners spend a great deal of their time engaged in activities associated with the recruitment and selection of staff. This can range from one-off recruitment episodes to major recruitment campaigns carried out to recruit and select replacement staff, staff with specialist skills, trainees, graduates, etc

Recruitment is the process of locating and encouraging potential applicants to apply for existing or anticipated job openings. It is actually a linking function, joining together those with jobs to fill and those seeking jobs. Therefore every organization should recruit the most suitable and competent persons on the basis of the needs and nature of the job. In other words, right men should be recruited taking into consideration the long term needs of the organization and they should be placed on jobs for which they are the most suitable. Fro the recruitment of the employees consultancies also play a major role, they help the organization to find out the right person for the organization.

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OBJECTIVES OF THE STUDY

MAIN OBJECTIVES-

To study the Recruitment & Selection process in Excel Consultancy Services.

SECONDARY OBJECTIVES-

To study whether Recruitment consultancy is the best source to recruit manpower in a company.

To judge that the right candidate is placed in the right company.

To study the factors that influences the satisfaction level among different client.

To know the various methods and ways used for recruitment in the organization.

WHAT IS CONSULTANCY-

Consultancy is " The service provided to business, public and other undertaking by an independent person in identifying and investigating problems concerned with policy, organization, procedures and methods, recommending appropriate action and helping to implement those recommended." (Shaun Tyson)

CONSULTANT-

A consultant is an experienced individual that is trained to analyze and advise a client in order to help the client make the best possible choices. A strategic consultant may evaluate a business plan and help the client develop a plan to meet those strategic goals.

EXCEL CONSULTANCY SERVICES (An ISO 9001: 2000 company) is a premier Human Resource & IT Solutions consulting firm with the focus on the demands of future. It is started and headed by a professional man who is expertise into various business segments with the best customer/ client services.

CONSULTANCY CONCERN-

MEANING OF CONSULTANCY-

1. one who gives expert or professional advice.

2. one who consults another.

NEED ASSESSMENT-

The consultant will want to study-

the company's organizational structure

its human resources manager

the company's mission, goals and objectives

its competition (analysis and comparison)

company requirement

company's vacant position

qualification that candidate require for the company

salary they offer

job profile

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using sales, business development, marketing techniques and networking in order to attract business from client companies

building relationship with clients

developing a good understanding of client companies, their industry, what they do and their work culture and environment.

Advertising vacancies appropriately by drafting and placing adverts in a wide range of media (e.g. newspapers, websites, magazines)

Headhunting- identifying and approaching suitable candidates.

Completing a search of the candidates database to find the right person for the employer's vacancy

Receiving and reviewing applications, managing interviews and short listing candidates.

Requesting references and checking the suitability of applicants before submitting their details to the employer

Briefing the candidate about the responsibilities, salary and benefits of the job in question

Preparing CV's and correspondence to forward to clients in respect of suitable applicants.

Organizing interviews for candidate as requested by the client

Informing candidates about the results of their interviews.

Negotiating pay and salary rates and finalizing arrangements between client and candidates.

Offering advice to both clients and candidates on pay rates, training and career progression.

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CONSULTANCY CHIEFLY PERFORM THE FOLLOWING ACTIVITIES:

1. Job description

2. typical work activities

1. JOB DESCRIPTION-

A recruitment consultant is responsible for attracting candidates and matching them to temporary or permanent positions jobs with client companies. The jobs may vary from entry level roles to directors and executives.

Recruitment consultants work with client companies, building relationships in order to gain a better understanding of their recruitment needs and requirements. They attract candidates by drafting advertising copy for use in a wide range of media, as well as by networking, headhunting and through referrals. They screen candidates, interview them, do background checks, and finally match candidates to their clients.

Consultants also provide advice to both clients and candidates on salary levels, training requirements and career opportunities.

2.TYPICAL WORK ACTIVITIES-

A recruitment consultant's role is demanding and diverse and involves:


THEORETICAL FRAMEWORK

Recruitment has been regarded as the most important function of personnel administration, because unless the right types of people are hired the organization cannot achieve its objectives. This is the second step in the process of procurement of the employee the first being the manpower planning. Recruiting makes it possible to acquire the number and types of people necessary to ensure the contained operation of the organization. This is a liking activity bringing together those with jobs and those seeking jobs.

RECRUITING INTERNALLY OR EXTERNALLY

INTERNAL RECRUITING-

Recruiting from among the existing workforce offers many advantages. Seeing your employees at work on a day-to-day basis will enable you to evaluate their particular strengths and weakness accurately and choose the most suitable person for the position.

INTERNAL SOURCE OF RECRUITMENT- personal recommendations, notice boards, newsletters, memoranda

EXTERNAL RECRUITING-

When a company is involved

Documents

journal cover - 2 - Shakti Publication Internation - 2...Successful technopreneurs like Micro Soft's- Bill Gates, ... It is necessary that a good website design contains top quality