CHAPTER-1

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1.1INTRODUCTION

What is an Organization?A set up where individuals come together and work in unison to achieve a common goal

is called as organization. Individuals working together in an organization to earn their bread and butter as well as make profits are called employees. Employees are the lifeline of an organization and contribute effectively to its successful running and profit making.An organization can’t survive if the employees are not serious about it and are more concerned about their personal interests.What is Employee Retention?

Employee retention refers to the various policies and practices which let the employees stick to an organization for a longer period of time. Every organization invests time and money to groom a new joiner, make him a corporate ready material and bring him at par with the existing employees. The organization is completely at loss when the employees leave their job once they are fully trained. Employee retention takes into account the various measures taken so that an individual stays in an organization for the maximum period of time.Why do Employees Leave?

Research says that most of the employees leave an organization out of frustration and constant friction with their superiors or other team members. In some cases low salary, lack of growth prospects and motivation compel an employee to look for a change. The management must try its level best to retain those employees who are really important for the system and are known to be effective contributors.

It is the responsibility of the line managers as well as the management to ensure that the employees are satisfied with their roles and responsibilities and the job is offering them a new challenge and learning every day. Need & Importance of Employee Retention:• Hiring is not an easy process: The HR Professional shortlists few individuals from a large pool of talent, conducts preliminary interviews and eventually forwards it to the respective line managers who further grill them to judge whether they are fit for the organization or not. Recruiting the right candidate is a time consuming process.

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• An organization invests time and money in grooming an individual and makes him ready to work and understand the corporate culture: A new joiner is completely raw and the management really has to work hard to train him for his overall development. It is a complete wastage of time and money when an individual leaves an organization all of a sudden. The HR has to start the recruitment process all over again for the same vacancy; a mere duplication of work. Finding a right employee for an organization is a tedious job and all efforts simply go waste when the employee leaves.• When an individual resigns from his present organization, it is more likely that he would join the competitors: In such cases, employees tend to take all the strategies, policies from the current organization to the new one. Individuals take all the important data, information and statistics to their new organization and in some cases even leak the secrets of the previous organization. To avoid such cases, it is essential that the new joinee is made to sign a document which stops him from passing on any information even if he leaves the organization. • The employees working for a longer period of time are more familiar with the company’s policies, guidelines and thus they adjust better: They perform better than individuals who change jobs frequently. Employees who spend a considerable time in an organization know the organization in and out and thus are in a position to contribute effectively.• Every individual needs time to adjust with others: One needs time to know his team members well, be friendly with them and eventually trust them. Organizations are always benefited when the employees are compatible with each other and discuss things among themselves to come out with something beneficial for all. When a new individual replaces an existing employee, adjustment problems crop up. Individuals find it really difficult to establish a comfort level with the other person. It is a human tendency to compare a new joinee with the previous employees and always find faults in him.• It has been observed that individuals sticking to an organization for a longer span are more loyal towards the management and the organization: They enjoy all kinds of benefits from the organization and as a result are more attached to it. They hardly badmouth their organization and always think in favour of the management. For them the organization comes first and all other things later.

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• It is essential for the organization to retain the valuable employees showing potential: Every organization needs hardworking and talented employees who can really come out with something creative and different. No organization can survive if all the top performers quit. It is essential for the organization to retain those employees who really work hard and are indispensable for the system.• The management must understand the difference between a valuable employee and an employee who doesn’t contribute much to the organization. Sincere efforts must be made to encourage the employees so that they stay happy in the current organization and do not look for a change.Employee Retention Strategies:• An employee looks for a change when his job becomes monotonous and does not offer anything new. It is essential for everyone to enjoy whatever he does. The responsibilities must be delegated according to the individual’s specialization and interests. It is the responsibility of the team leader to assign challenging work to his team members for them to enjoy work and do not treat it as a burden. Performance reviews are important to find out whether the employees are really happy with their work or not.• Constant disputes among employees encourage them to go for a change. Conflicts must be avoided to maintain the decorum of the place and avoid spreading negativity around. Promote activities which bring the employees closer. Organize outdoor picnics, informal get together for the employees to know each other better and strengthen the bond among themselves. Let them make friends at the workplace whom they can really trust. Friendship among employees is one strong factor which helps to retain employees. Individuals who have reliable friends at the workplace are reluctant to move on for the sake of friendship. No one likes to leave an organization where he gets mental peace. It is essential to have a cordial environment at the workplace.• The human resource department must ensure that it is hiring the right candidate. Frustration crops up whenever there is a mismatch. A finance professional if is hired for a marketing profile would definitely end up being frustrated and look for a change. The right candidate must be hired for the right profile. While recruiting a new candidate, one should also check his track record. An individual who has changed his previous jobs frequently would also not stick to the present one and thus should not be hired.

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• Employee recognition is one of the most important factors which go a long way in retaining employees. Nothing works better than appreciating the employees. Their hard work must be acknowledged. Monetary benefits such as incentives, perks, cash prize also motivate the employees to a large extent and they prefer sticking to the organization. The performers must have an upper edge and should get a special treatment from the management.• Performance appraisals are also important for an employee to stay motivated and avoid looking for a change. The salary hike should be directly proportional to the hard work put by the employees. Partiality must be avoided as it demotivates the talented ones and prompt them to look for a better opportunity.• The salary of the employees must be discussed at the time of the interview. The components of the salary must be transparent and thoroughly discussed with the individuals at the time of joining to avoid confusions later. The individuals should be made to join only when the salary as well as other terms and conditions are acceptable to them.• The company’s rules and regulations should be made to benefit the employees. They should be employee friendly. Allow them to take a leave on their birthdays or come a little late once or twice in a month. It is important for the management to understand the employees to gain their trust and confidence. The consistent performers must also have a say in the company’s decisions for them to feel important.Role of Motivation in Employee Retention:

Motivation plays an important role in employee satisfaction and eventually employee retention. Nothing works better than motivation. Motivation acts as a catalyst to an individual’s success. The team leaders and the managers must constantly motivate the employees to extract the best out of them. If an employee has performed exceptionally well, do appreciate him. Simple words like “Well done”, “Bravo”, “Good”, “Keep it up” actually go a long way in motivating the employees. The top performers must be in the limelight. The employees must feel indispensable for the organization. It is essential for the employees to be loyal towards their organization to deliver their level best.

The superiors should send motivational emails to their team once in a week. Display inspirational posters, photographs on the notice board for the employees to read and stay motivated. It is natural for an individual to feel low sometimes, but the superiors must ensure to boost their morale and bring them back on track. No individual should be neglected or criticized. This demotivates them. If they fail to perform once, motivate them and give them another opportunity.

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Organize various activities and events at the workplace. Ask each one to take charge of something or the other. Engage the employees in productive tasks necessary for their overall development. The management must show its care and concern for all the staff members. The employees must feel secure at the workplace for them to stay motivated.Whenever any company policy is to be formulated, the opinion of each and every employee should be taken into consideration.

Invite all of them on a common platform and ask for their suggestions as well. Freedom of expression is must. Every employee must have a say in the organization’s guidelines as they are made only to benefit them.

Incentives, perks, cash prizes are a good way to motivate the employees. The employees who have performed well consistently should be felicitated in front of all the staff members as well as the management. Give them trophies or badges to flaunt. Ask the audience to give a loud applause to the employees who have performed well. This is a good way to motivate the employees for them to remain happy and work with dedication for a longer duration. Others who have not performed up to the mark also gear up for future. The names of the top performers must be put on the company’s main notice board or bulletin board for everyone to see.

Appraisals are also an important way to motivate the employees. The salaries of the performers must be appraised at regular intervals- an effective way to retain the employees. Career growth is an important way to retain the talented employees. Give them power to take some decisions on their own but the management must have a close watch on them so that they do not misuse their power.Role of HR in Employee Retention:

The Human Resource team plays an important role in employee retention. Let us find out their role in the same:• Whenever an employee resigns from his current assignments, it is the responsibility of the HR to intervene immediately to find out the reasons which prompted the employee to resign. No one leaves an organization without a reason. There has to be one and the human resource team must probe into it. There can be innumerable reasons for an employee to leave his current job. The major ones being conflict with the superiors, lesser salary, lack of growth, negative ambience and so on.

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• It is the duty of the HR to sit with the employee and discuss the various issues face to face. Understand his problems and listen to his side of the story as well. Remember the HR should not focus on conducting exit interviews, rather more emphasis should be laid on retaining the employees.• Try to provide a solution to his problem. Hiring is a tedious process and it is really very difficult to recruit the right candidate and train him once again. Do check the track record of the employee who wishes to move on. It is really essential for the management to retain those employees who have the potential and are really indispensable for the organization. If they leave and join the competitors; the organization would be at loss. If one feels that the employee is not very happy with his team leader, try to shift him to a new team. If the employee feels his salary is not justified, try to give him a hike but make sure he is worth it and you don’t end up upsetting others• The HR person must ensure that he is recruiting the right employee who actually fits into the role. A right person doing the wrong job would never find his job interesting and certainly look for a change. Make sure every individual has been assigned responsibilities according to his specialization and interest. The employees must be clear with their KRAs from the very beginning. • The human resource department must conduct motivational activities at the workplace. Organize various internal as well as external trainings which help the employees to learn something extra apart from their routine work. Make them participate in extracurricular activities important for their overall development. Encourage them to interact with each other so that the comfort level increases.• The HR must launch various incentive schemes for the top performers to motivate them. This way the employees feel important for the organization and strive hard to perform even better the next time. The employees who show promise should be awarded with cash prizes, lucrative perks and certificates to make the individual stand apart from the crowd. Send a mail wishing the employees on their birthdays or congratulating them when they perform exceptionally well or come out with something innovative. Arrange a small bouquet for them as a gift from the organization’s side. This way the employees feel attached to the organization and are reluctant to look for a change. A friendly atmosphere is essential for the employees to feel safe and secure. Make them participate in various management decision making.

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• Performance reviews are a must. The HR along with the respective team leaders must monitor their team member’s performance to ensure whether they are enjoying the work or not. The employees look for a change only when their job becomes monotonous and does not offer any growth or learning. Job rotation can be one of the effective ways to retain employees.Employee Engagement and Employee Retention:What is employee engagement?

Employee engagement refers to a situation where all the employees are engaged in their own work and take keen interest in the organization’s activities. An engaged employee is one who is focused, enjoys his work and learns something new each day.An engaged employee is satisfied with his work and would never think of quitting his job. He is the one who willingly accepts responsibilities and looks forward towards a long term association with the organization.

Lack of challenging work is one of the major reasons as to why an employee decides to move on. An individual should be delegated responsibilities as per his specialization and background for him to perform up to the mark. An employee delivers his hundred percent when he does something which interests him.

Problems crop up when individuals have nothing creative and challenging to do. An employee must foresee a bright future and better growth prospects in the organization for him to stick to it for a longer duration. An engaged employee always stays motivated in his current assignments and does not look for opportunities outside. Why does an individual always look for challenges outside, why can’t he improve the conditions in his own organization? Monotonous work demotivates an individual and prompts him to look for a change.

As they say “an empty mind is a devil’s workshop”. In the same way, idle employees are the ones who loiter around and spread negativity all over the place. They are the ones who provoke others to fight amongst themselves. Individuals who have nothing to do at workplace kill their time by gossiping around and badmouthing their organization. They always talk negative about the management and encourage others to move on.

The team leaders and the management must take the initiative to assign challenging work to the subordinates so that they do not treat their work as a burden. An employee must be asked to do something innovative every time.

An individual engaged in his work strives hard to deliver his level best and live up to the expectations of the management everytime. He looks forward towards achieving his

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organization’s targets and thus making it one of the best places to work.An employee who is busy with his work stays away from nasty politics, backstabbing and thus maintain the decorum of the office. He prioritizes his work and does not really get time for controversies. Individuals are reluctant to leave when they enjoy a cordial relation with their colleagues.

Everyone expects a stress free environment at workplace and tends to leave only when there are constant disputes. No one likes to carry tensions back home. An engaged employee does not get time to participate in unproductive tasks instead finishes his assignments on time and benefits the organization.

The team leaders must monitor the performance of the team members to ensure whether they are satisfied with their profile or not? Performance reviews are a must to make sure every one finds his job interesting. Discussions are essential at the workplace and everyone should have the liberty to express his opinions on an open forum. Don’t impose things on anyone. Let people decide themselves what best they can do. This way employees are satisfied with their work and never look for a change.

One should always remember that offices are meant to work and not for fun. For an individual, his work should come first and everything else later.

1.2 INDUSTRY PROFILE

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GARAGE EQUIPMENT MARKET

THE CHANGING LANDSCAPE

With close to two decades of experience in the automobile industry, the changing landscape of garages, the equipment they use, their customer interaction and skill set of employees is analogous to the changing economic and social environment in India. Taking out a page from history we all know that we do not have to depend on only a few models of cars to choose from. We today have around 40 models to choose from. Theoretically there are over 200. Such model crowding has made many people’s lives complex while simplifying the customers’ lives. It has also given rise to a host of other challenges.

These forces have given rise to two significant factors – changing customer attitudes and expectations and growing car population and variety. Combined together and interacting with each other, these drivers have effected significant changes in workshops, garage equipment and the skill requirement of technicians.

With the opening up of the economy in the 1990s, every possible brand of automobile entered the Indian market. Their swanky and up-market design cars could be seen on city roads. Showrooms and service set-ups were revamped and job opportunities in the automobile sector widened. These were a paradigm shift for car consumers. Customers are maturing, buying more of C segment and SUV cars, looking for more subtle differentiations and are getting refined. At the same time they have started questioning everything – prices, service standards, soft service qualities, and so on. They are able to see functional aspects of cars distinct from other frills, and as the products become more or less the same they only see the quality in each. Today customers do differentiate on service quality and are willing to notice it and pay a premium for the same. While on the customer attitude front substantial shifts are taking place, the booming automotive sector also gave rise to a burgeoning network of service centers. While the good old Premier Padminis and bulky Ambassadors were often found at roadside mechanic joints, a modern automobile, being a far more sophisticated machine, needs an equally sophisticated set of equipment to service. The location of the service centers, the cleanliness of the workshop, the professionalism and attire of the workmen, timeliness of the service and the equipment that are being used to diagnose or repair the vehicles have all become a must for workshops.

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All this is indicated in the penetration of auto service equipment which has reached a decent level though far below the international level.

Garages have started coming up in main streets. They have a wider frontage, present a bold and good look, and are airy and epoxy floored. With a reception area they provide water when someone comes in, sport a TV that beams channel programs, whether there is a person in the lounge or not, and are a “service advisor” who is well dressed and technically competent. Today, even independent repair shop owners are ready to invest in modern machinery and diagnostic tools. This behavioral change is not only to achieve parity with other workshops but their belief that it pays to invest in these. Right from the wheel aligner, balancer, body repair system, MIG welder, dent puller, special tools to paint booths, you will find them all. They talk about productivity matrix, bay turn, multi-skilled workers, customer satisfaction and all such words which once used to be the copyright for dealership workshops. And if all is so good, then this must be the best business plan to invest in for any entrepreneur and make money. Parts used to be a bug bear. Customers were led to believe that they would get good and genuine parts only with authorized workshops. It is no longer true. As the markets disperse, so also parts distribution. Today’s article on Competition Commission of India’s report says that the parts of majority of the car makers are available freely. Car manufacturers know that they cannot remain silent and without catering to the ever-growing aftermarket. For them, the choice is to supply to it or forget that market in the long run. Mature makers have realized the inevitable and are supplying parts to all markets. The restrictions are limited to a very few manufacturers who do not command much market share individually. Reflecting such shifts, the Automobile Component Manufacturers’ Association (ACMA) is taking the lead and organizing a trade expo in Delhi for aftermarket needs. This is the first time ACMA is taking a lead different from the Society of Indian Automobile Manufacturers (SIAM). We can see a subtle power balance getting restored.

Aftermarket and independent aftermarket service will all become a major force to reckon with in the Focus on garage equipment98 MOTORINDIA l July 2012current decade. As with any sector, this business also has its own challenges and nuances. Workshops built in tier-2 and tier-3 cities, at an investment of Rs. 10 lakhs each, with basic equipment, break even in four to five months.

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At the same time, you have a host of workshops in metro cities that are located at prime junctions, with heavy investments made in modern machinery and struggling to make profit even after two-three years of operation.

There are problems which are peculiar to this industry. Following are the few:

• The customer has to be delivered what is being promised. If he has come for service he should not be allowed to leave with the feeling that his car has been given a good wash.

• Procuring costly equipment will not serve any purpose until service advisors know where and how it has to be used. Productivity can be enhanced only if the potential of the employees and also the equipment is tapped to the fullest extent. Besides, substantial thrust has to be put on training.

• Original diagnostic tools and repair equipment should be available at affordable prices. The workshops should have access to quality information on how to use them effectively. Particularly garage technicians need to become adept at electronics tools usage.

• Well, the above point will not only require investments in terms of manufacturing them in India but also certain legislative or policy changes that makes this manufacturing market lucrative. Not only will it bring in better service but would also generate larger revenue and skilled/semi-skilled jobs for States.

• Repair needs to be carried out only when it is necessary. Customer has every right to manage with the same parts being repaired till the time it does not raise a safety threat or environment concern. More importantly, he should have visibility on what he is being charged for.

• Though some time it is required for right reasons, replacements also being carried too far and is inviting suspicion. There is a distrust developing; and regulator is taking note and it is not long far that there will be restrictions.

• Garages should only do necessary repairs. They should not use safety and reliability as veils to push parts and carry out costly labor charges.

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• Vehicle manufacturers have to come forward in terms of making electronic catalogues & manuals accessible to all. Keeping these privy and leveraging the lack of information availability in ensuring customer loyalty is detrimental to the free market philosophy.With Indian vehicle population growing and aspirations of millions of people driving this growth the service workshop market is all set for an explosive growth. There is scope for everyone to benefit from it, be it customers, laborers, workers, executives, government (excise from manufacturing), SMEs, exporters/traders and OEMs.

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1.3 COMPANY PROFILE

MANATEC is one of Asia's largest original equipment manufacturers of automotive garage equipments. Located in Pondicherry, India, the company manufactures Wheel Aligners, Wheel Balancers, Two Post Lifts, Gas analyzers, Smoke Meters, Head lamp aligners & Digital Air Tire inflators.

Established in the year 1987, as a manufacturer of industrial shaft aligners, Manatec diversified into garage equipment industry in 1991. The company, through its in-house R&D, indigenously designed and developed Optical wheel alignment systems in 1991, to become the first company to design a wheel aligner in the whole of Asia. Following this the company's R&D dept continuously designed & developed wheel balancers, tyre changers, exhaust gas analyzers, smoke meters, head lamp aligners, 2 post lifts & automatic tyre inflators. With this, Manatec is one of very few companies in the world to have design & technology of eight different garage equipments. Advanced versions of wheel aligners were also developed in these years simultaneously. Manatec's extensive Wheel Aligner installations across the world speak for its quality, specialization and lead role we play in this industry.

Manatec's in-house R&D facility is spread over 10,000 sq.ft with more than 35 electronics, mechanical & software and hardware engineers. All the products are designed by the R&D are indigenous with proprietary software, hardware and electronics design. The R&D strength of Manatec has enabled the company to export its products worldwide and provide technical support to its overseas buyers.

Buoyed with increasing export orders and significant growth in domestic business, Manatec has come up with a new Greenfield manufacturing facility in an area of 130,000 Sq.ft, near Pondicherry. This facility ensures that the exports and domestic demands are met by producing garage equipments on a mass scale.

Manatec is ISO 9001:2008 certified, which confirms its commitment to quality systems within the company that will result in quality products. The entire organization is driven by fully-integrated ERP system that was introduced in 2007.

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Manatec exports to more than 50 countries across the globe through its distributor network. This was achieved through a unique value proposition Manatec was able to offer its buyers- Designing garage equipments with world-class technology & quality and offering at prices competitive to European and Chinese products. Today Manatec has emerged as a truly global player in the automotive aftermarket and has evolved its vision and mission for the long term.

PRODUCT FACILITY:

Manatec's production floor is equipped with state of the art manufacturing facilities to produce garage equipment. The Production floor is spread over an area of 130,000 sq.ft in our new Greenfield facility. Production techniques such as Cellular manufacturing, KANBAN & 5S are practiced to ensure quality throughput. The infrastructure includes CNC machines, machine shop, tool room, electronics assembling & testing bays, sub-assembly bays and final-assembly lines. Stringent Quality Assurance measures in place to control various stages of production from raw material, sub assembly to final product.

The new Greenfield facility has the production infrastructure with the capacity to produce the following volumes:

3000 wheel aligners 3000 wheel balancers 1500 two post lifts 1000 exhaust gas analyzers 1000 diesel smoke meters

R&D:

Manatec established its in-house R&D division in 1987. Manatec through its R&D strength, has become one of the very few companies in the world to have 100 % indigenously designed 8 different garage equipments (wheel aligners, balancers, tire changers, 2 post lifts, gas analyzers, smoke meters, head lamp aligners, automatic tire inflators).

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The R&D dept houses all required facilities, both Electronics & Mechanical, to design & develop high quality Garage Equipments. Experienced technical engineers, hardware & software Specialists work in the R&D dept that designs world-class products. The software of Wheel Aligner and Wheel Balancer has been copy right protected.

Manatec invests approx. 7% of its annual turnover in Research & Development every year.

Currently Manatec is working in designing advanced wheel alignment systems, premium wheel balancers to handle heavy-duty wheels and gas & smoke analyzers to conform to European and UK standards.

CE MARKING:

All the products are designed and developed in our R&D Centre to conform to International quality requirements. Wheel Aligners, Wheel Balancers, and Gas & Smoke analyzers are already self-certified for CE. The third party certification from a leading worldwide organization is applied and acquired.

PRIVATE LABELING:

Manatec’s strong R & D has enabled the company to tie up with famous global brands to supply Wheel Aligner, Wheel balancer, Pollution Check Equipments & Two Post Lifts under private label. They find enormous value in terms of latest technology product at economical cost when they buy from Manatec.

MILESTONES:

In its 25 years of designing & producing garage equipment, Manatec has crossed various milestones.

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COMPANY MILESTONE:

1987: R. Mananathan, a technocrat in machinery & vibration analysis forms the company, Manatec to design and produce industrial shaft alignment computers. These computers work on micro-processor based design to measure and display misalignment between the shafts of any industrial prime mover.

1989: Manatec designs another product electronic spirit level. Both shaft aligner & electronic spirit level were import-substitute products and received good response from the Indian market.

1991: In 1991, automotive garage equipment used to be imported into India from Italy. Identifying the need for an import-substitute, Manatec with 100% indigenization, designed a wheel aligner for the first time in India & Asia.

1992: Manatec was awarded with Best productivity performance award for the year 1990-1991 from the National productivity council of India.

1992: Manatec’s wheel aligners were approved by major Indian vehicle manufacturers like Hindustan motors & TATA motors.

1993: Manatec designed first ever video graphic wheel aligners with attractive and user-friendly software design.

1994: Manatec received the coveted national award from the president of India for Best entrepreneur and quality products in SSI sector for the year 1993.

1995: Digital toe-aligners were designed to align only the TOE angle. This model was exclusively developed for buses & trucks.

1996: Manatec designed wheel balancers in both digital and video graphic versions.

1997: Award for Excellence in R&D for the year 1996 was awarded by the Dept of science and industrial research, Govt of India

1997: Product approvals from tyre manufacturers followed from JK tyres, Birla tyres, Apollo tyres

1998: Manatec applied for ISO 9001 certificate successfully and received from KPMG.

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1999: Tyre changers were designed in-house through the mechanical R&D division.

1999: Exhaust gas anlaysers were designed to cater to the rising emissions conditions in India.

2000: Manatec successfully applied for in-house R&D recognition from the Govt. of India.

2000: Best R&D efforts award for the year 1998-1999 was given away by Prof.Murali Manohar Joshi

2000: Manatec develops diesel smoke meter

2001: Manatec successfully received ISO 9001: 2000 certificate from TUV Germany.

2002: Two post lift, model RHINO 3.0 was designed

2003: Manatec successfully re-applied for in-house R&D recognition.

2007: Manatec received Silver shield award for star performer in exports for the year 2005-2006 awarded by Engineering export promotion council of India.

2008: Second time in a row, Manatec received Silver shield award for star performer in exports for the year 2006-2007 awarded by Engineering export promotion council of India.

2008: Manatec was converted into a private limited company and 3 additional directors were inducted into the board.

2010: Third time in a row, Manatec received Silver shield award for star performer in exports for the year 2008-2009 awarded by Engineering export promotion council of India.

2011: Manatec's FOX 3D Wheel Aligner; India's first indigenously designed Wheel Aligner. Manatec is certified by Ministry of Science & Technology, Department of Scientific and Industrial Research for its R&D efforts.

2012: Fifth time in a row, Manatec receives Silver shield award for star performer in exports for the year 2010-2011 awarded by Engineering Export Promotion Council of India.

2012: Manatec celebrates 25th Anniversary.

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CERTIFICATIONS: ISO 9001:2008

Manatec has been certified by TÜV SÜD South Asia Pvt. Ltd. for Quality Management System. Manatec received its ISO 9001certification as early as 2003, after this the company has gone for fourth successful consecutive certifications. Currently the company is in the process of extension of certification.

VISION STATEMENT:

Manatec’s long term vision is to become India’s one of the most respectable companies with a global footprint across different countries. A company with best corporate governance and ethics and a valuable contributor to the society at large.

MISSION STATEMENT:

• Mission with paranoid approach.

• Continuous development through innovation.

• Acquire, polarize and vitalize technologies/manpower/machinery.

• Assimilate excellence through global best practices.

• Ensuring global stability through honest business practices.

• Enable, enrich and energies employees, investors and government.

• Invest Compete and conquer.

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QUALITY:

One of the value propositions Manatec offers its buyers is the Quality of its equipments. Excellent quality combined with economic prices will offer a unique value to the buyers and place Manatec competitively against a Western or Chinese product. Manatec understands the importance of this value and has always prioritized quality assurance of its products. Extensive process quality system ensure strict adherence to the norms prescribed. In-coming raw material or vendor assemblies are subject to quality checks. With long-established vendor base, on-site self check methods are established at the vendor premises itself. Custom-designed quality jigs are established in-house and at the vendor’s premises to check deviations if any.

QUALITY POLICY:

“Every Employee of Manatec is responsible for achieving the ultimate customer satisfaction through effective design, systematic production, timely delivery and prompt customer service. These are reinforced by periodic updating of technology, knowledge and systems through proper training and motivation”

TQM INITIATIVE:

Manatec launched the TQM initiative in December 2011 by releasing the TQM Logo & banner during an employee meeting.TQM steering committee has been formed to drive the TQM initiative. MANATEC is working towards achieving the coveted DEMING AWARD by 2015.

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1.4 OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE:

• To know the importance attached to employee retention in the organization.

SECONDARY OBJECTIVE:

• Strategies employed by the company to retain the efficient employee.

• To reduce the cost of turnover.

• To maintain the goodwill of the company.

• To analyze employee perception on retention strategies.

• To reduce attrition ratio.

• To satisfy employee.

• To develop new retention strategies.

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1.5 SCOPE OF THE STUDY

This project has been prepared with an intention to make one realize and understand the significance of employee retention.

It is not about managing retention, it is about managing people. If an organization manages people well, employee retention will take care of itself. People want to work for an organization which provides:

• Appreciation for the work done.

• Ample opportunities.

• A friendly and cooperative environment.

• A feeling that the organization is second home to employee.

Employee retention has become the major goal of the organization. Initially recruitment was only talked about, but now in today’s world, recruitment has become just a part of HRM. Major importance is attached to employee retention.

This project not only aims to present the theoretical aspects, but the practical aspects as well. A survey has been done to understand the strategies followed by various organizations to ensure employee retention.

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1.6 LIMITATIONS OF THE STUDY

The study is limited to the Manatec electronics pvt. Ltd. thattanchavady plant.

This was conducted for a short span of time.

This study includes very less sample so the conclusion drawn cannot be widely applied.

This study not being in vernacular language of the respondent was a limitation since this may lead to bias in the response.

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CHAPTER-2

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2.1 LITERATURE REVIEW

Tricks to Improve Employee Retention (Franke Mor, 2001)

Employee retention is mainly done to assure the constant growth of the company in terms of production, sales, and monetary gains and reduce employee turnover by cutting down on the cost of employee hiring, training etc. It is the responsibility of the human resource management team to take initiative steps to retain their important and productive workers for long term benefits and future prospects of business gains and success. Carefully analyze the reasons that would motivate them to stay in your company and make sure they are implemented. Feedback process of organization system should be simple and short. It can work for boosting employee morale and helps increasing retention. Employee compensation also plays an important role in employee retention strategies. Fair and competitive salary package give the workers an incentive to want to stay in the company. Upper Management should know their name, skills and specifications in business. Create opportunities for better professional development and growth for your workers. You can provide training or tools to implement new techniques in their work.

10 Strategic Tips for Employee Retention (Jaime Menor, 2009)

1. Balance work and personal life

2. Competitive compensation package

3. Treat each employee with respect and as an individual

4. Positive Work environment

5. Eradicate Favoritism

6. Communication and availability

7. Employee Empowerment

8. Placing the Right Talent for the Right Job

9. Celebrate successes, big and little and make the workplace fun.

10. Workplace flexibility

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How to Increase Employee Retention (Brad Booysen, 2011)

Every company needs talented, hard-working staff, and the best way to retain good workers is to keep them happy. That's why having an employee retention strategy is important. Here are some employee retention strategies you can use to keep employees "on your team."

1. Encourage communication:

Share your company's vision with staff and make them feel part of the plan. Communicate your enthusiasm for what your company does so that employees see the "bigger picture" and how they fit in to it. Have monthly meetings with employees to get feedback on their job performance.

2. Recognize employee achievements for better employee retention:

Recognize employees who are productive and motivated, and make them feel part of the business "family" by recognizing personal achievements. Reward employees as a team for working hard on a project by hosting a healthy team lunch.

3. Keep them healthy:

Healthy employees are more productive. Sponsor health screening programs to check for health problems. Bring in experts on nutrition and physical fitness to talk to employees about staying active and making healthier food choices. A healthy employee is a more productive one.

4. Reduce stress in the workplace:

Encourage employees to take breaks or take a short walk outdoors. Keep an open door and encourage employees to discuss stress-related issues so you can help correct them. Bring in experts to talk about how to deal with work-related stress. Humor keeps employees healthy and happy - and that's a good thing when it comes to employee retention.

Employee Retention Plan (Ivo Legenda, 2011)

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Smart companies develop Employee Retention Plan to improve their current Employee Retention Rate and develop high performance organizations. How do you develop your Employee Retention Plan? First of all you need to identify the most important drivers for Morale, Loyalty and Satisfaction. Employee Retention Rate depends on many factors such as overall company environment, company policies, company culture, work environment, employee development, etc. Creating High Retention Workforce is the number one priority of a successful Retention Plan. Improve morale through effective rewards and recognition system and develop relevant rewards for your workforce. Employee Surveys are used for measuring employee satisfaction and identify important issues for your employees. Achievements and recognitions are also important for employee satisfaction. Rewards and recognition systems are also important for your Retention Plan. Employee Retention Plan should be customized to your business and employees.

Executive Search Firms on Employee Retention Guidelines (Charles S. Cox, 2012)

To start, organizations need to understand that finding and acquiring talented employees is difficult at the best of times, and all the more so when the economy is in a slump and the job market is being flooded with under qualified individuals. What's more, in order to retain the talent they have, companies will need to stop seeing these individuals as tools and as individuals who should be supported and encouraged if they are to be effective and help the company achieve its goals. To help guide companies in these endeavors, here are some employee retention tips courtesy of executive search firms.

Keeping Motivated Providing the Corporate Ladder Developing a Brand Building Relationships Open Decision Making Take Time to Listen Effective Management Be Supportive Become More Than a Business Share the Company Vision

Executive Search Firms Look at Employee Retention Through Effective Management (By Charles S. Cox, 2012) Co-Author: Maurice G.

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For starters, employers should stay in touch with their employees as well as keeping an ear to the ground for any rumblings which may be warning signs of instances of employee dissatisfaction. If managers remain attentive enough they can often detect early sign of agitation and unrest in their personnel. Other signs that employees may be less than satisfied in their positions and considering jumping ship can be seen in individuals who seem disconnected or have shown a marked difference in their working habits and behavior. All of these factors are issues that managers should be able to catch by paying close attention to their employees' behavior and activities. It is important that not only top managers, but those on all levels, as well as team leaders, be trained to each carefully monitor their personnel for signs that individuals may be becoming disenfranchised in their role and considering leaving.Key to the success of these previous points is the need for managers to have previously developed relationships with their employees. Finally, building on the previous point, managers should seek gain an understanding of their employees' goals and ambitions.

Employee Retention Techniques (Nate Rodnay, 2005)

Employees are a valuable asset to any organization. Focusing on employee retention techniques can positively impact the organization.

Increase Employee Engagement: Effectively implementing employee retention program by increasing employee engagement ensures that the employees are satisfied with their work, take pride in their work, report to duty on time, feel responsible for their job, feel valued for their contributions, and have high job satisfaction.

Motivate Employees: Motivating employees by offering them better opportunities for career development can help in employee retention. Giving rewards, recognitions, promotions, and appreciation can motivate them to increase their productivity, commitment to work, and loyalty to the organization.

Focus on Team Building: Team building promotes team work and team effort that help them to tackle work pressure and thus provide a competitive advantage to organization. Focusing on team building activities can help to reduce workplace conflicts between team members as they work in a team.

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Recognition of Performance: Although monetary compensation can act as a motivating factor, openly recognizing the performance, initiative, and good work increases the morale and motivates the employee to work more productively.

The Benefits of Employee Retention (Dipika Patel, 2010)

Employee retention is a vital part of running a successful business, with a range of benefits experienced by human resources professionals who manage to keep hold of their staff. A key advantage to sustaining a stable workforce is that you will be able to establish and maintain a strong knowledge base throughout your company, with a dedicated backbone of employees being able to carry out everyday duties with ease. This kind of experience is vital, allowing you to maximize your profits when business is good, while lessening the impact of downturns. Long-term employees are also able to deal with problems more easily, as well as being more effective at training new staff. Importantly, an established workforce sets a good example for new personnel, providing encouragement that the business environment is not only enjoyable, but stable and supportive. Studies have also proven that individuals who feel secure in their jobs are happier and work harder, meaning there is a range of benefits from a performance perspective. However, organizations that fail to hold on to their best people may struggle to compete, particularly in adverse economic conditions. Not only will these enterprises find it difficult to attract the most sought-after talent if they have a high staff turnover, but they may also discover their current employees are being snapped up by competitors with a better reputation. These considerations are why HR manager priorities staff retention and motivation, utilizing a number of methods in an attempt to keep personnel happy. A primary reason many workers give for having left their previous role is their employer's failure to show appreciation or give feedback. This means providing incentives and rewards can be highly effective in raising morale, while also showing that you are aware of their valuable contributions to the company. There are a variety of schemes available for organizations looking at staff retention as a key area in which to improve. One method is to introduce an online point scheme, which allows employees to collect points through various means and store them in an internet account. Using an online website to monitor the initiative also creates a team atmosphere, with leader boards, weekly emails and regular updates keeping people informed of what is going on in the business.

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Practices That Will Surely Improve Employee Retention in Your Office (Ashok Grover, 2012)

If employee retention is not an issue with your organization, you need not read any further. There is a fair chance that either your organization does not belong to this world or it has perfectly understood and put into practice the secrets of the trade!For others, all these secrets are revealed hereunder!

1. Having Right People - Before talking about retention, go back to the basics and select the people you would like to retain. If enough time and efforts are spent to check not only technical but behavioral aspect also, result will be the employees who would like to stay and company would like to retain.

2. Good Salary Levels - Though money is not everything, it is a big equalizer. Unfortunately, while many companies feel that it is only the money what matters, there are others who feel that money does not matter at all. The truth lies somewhere in between and a fine balancing act is required.

3. Internal Pay Equity - Many a times, the pain point is not one's lower salary; but comparatively higher amount being paid to another colleague. I have seen employees jumping with joy after their increments are announced... till they know about others. Similarly, a new employee may disturb older employees who may not be getting similar amounts or vice versa when the newcomer realizes that he could have negotiated better. All of them are human beings and there is nothing wrong in comparison.

4. Benefits Programs and Retirement Benefits - Even in the environment of CTCs (cost to the company), benefits programs like health insurance, recreation facilities, family get-togethers and retirement benefits are extremely important. These make employees feel part of a close-knit family and remain motivated.

5. Role Clarity - Nothing can be more damaging than a lack of clear job responsibilities. In such situations, contrary to normal belief, employees performance is well below expectations, while they feel that they are much more than they should. So, the result is a hopeless lose-lose relationship.

6. Impartiality - Employees feel highly demotivated when they feel that they are not treated equally and favoritism is practiced in the company. This invariably happens whenever there are policies with clauses allowing management discretion.

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7. Employee Empowerment - Employees perform much better when they are given the tasks and freedom to perform the same independently. Workplaces that promote employee empowerment, employee enablement, and broader spans of control by managers, will result into superior performance. Micromanaging drives employees away, empowerment improves retention.

8. Responsive Human Resource Team - Adequate and timely response to employee queries and concerns by the Human Resource department keeps the environment healthy. In many companies, the HR department is perceived as the policing arm of management. A responsive HR department is one of the strongest reasons to ensure high degree of employee retention.

9. Two Way Communication - Employees feel much more comfortable when they feel that they are being heard. This multiplies when they get face-to-face communication opportunity with their supervisors and are given feedback about their performance. This communication helps them feel recognized and important.

10. Performance Linked Reward System - Performers believe that the reward system should be based on merit and contribution. When some management try to keep all their employees happy through similar annual increments, it results into demoralization. In such case, while the status of poor performers remains a question mark, star performers don't find any reason to stay back with the organization.

11. Learning Environment - Employees look for opportunities to learn as well as share their knowledge. Involving them in training sessions, team assignments and mentor-mentee roles provides them with high level of internal self satisfaction, so important for retaining people.

12. Balanced Workload - No employees minds working long hours if it is once in a while. However, consistent need of staying late at work pulls their motivation down and efficiency is the casualty. This is happening more often now since it is getting more and more challenging to find skilled and experienced staff to meet growing business demands. To tackle this, companies should enable employees to balance work and life. Encouraging employees’ participation in continuous improvement activities helps.

13. People Involvement - Involving employees in decisions that have an effect on their jobs and the overall direction of the company makes them feel important.

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Engage Employees and Improve Employee Retention (Abblig Beals, 2011)

Most companies see the under the pressure of retaining employees for longer periods of time. An escalated number of opportunities for the truly motivated and skilled personnel and impatience, on the part of the employees, of staying with the same company for long have led to this phenomenon. Therefore, companies, all across the globe, are looking for ways of improving their employee retention. Among the various ways which have been explored, one realizes that employee engagement is one of the most sought after formulas for employee retention. So, what is employee engagement? Although the answer to this lies in the individual needs of the employees, a general concept presents its meaning as being the involvement of employees with the organization and its values. Are the employees simply performing their roles or are they an inclusive part of the organization? The more they are towards the latter, the higher do they stay self motivated, enjoy their jobs and hence stick to them for longer. It is essential that they are taught to develop self leadership skills on the basis of their individual motives and goals in their career and life. The thing that has to be quite evidently known is that compensation is just not enough for employee engagement. There have to be other factors of motivation which let employees to engage with the organization’s goals.

It is essential that companies interact with their employees to find out such other things as reasons why they enjoy working with the company and what are those things about their job profile which is the most motivating. While it does look quite plain and simple, making employees introspect and explore the real answers to these questions is a challenging task. Over and above this, the employer also has to spend some time assimilating feedback from the employees. The feedback could be about anything about the organization, from its marketing efforts to its HR to its work environment to much more. This way the employees will feel more accountable towards the organization, at large, and thus be more engaged. Improving the standards of employee engagement, across the globe, is Life by Design. The company understands the real value of engagement and involves itself into Employee Activated Engagement instead of pure employee engagement. With its efforts and adroitness, it has generated effective and long lasting results for its clients.

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CHAPTER-3

33

RESEARCH METHODOLOGY

3.1 RESEARCH DESIGN:

A research design is the arrangement of conditions for collection and analysis in a manner that aims to combine relevance to the research purpose with economy in procedure. Research design is the conceptual structure within which research is conducted it constitutes the blueprint for the collection, measurement and analysis of data. This project uses the descriptive type of research design which describes the characteristics of group, individual or a situation.

A descriptive study involves the following steps:

1. Formulating the objectives of the study.2. Defining the population and selecting the sample.3. Designing the method of data collection.4. Analysis of the data.5. Conclusion and recommendation for further improvement in the practices.

3.2 SAMPLING DESIGN:

A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample.

3.3 TYPE OF UNIVERSE:

The first step in developing any sample design is to clearly define the set of objects called the universe to be studied. The universe can be finite or infinite. In finite universe the number of items is certain but in case of an infinite universe the number of items is infinite i.e., we cannot have any idea about the total number of items. In this project the type of universe is finite.

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3.4 SAMPLING UNIT:

A sampling unit has to be decided before selecting sample. Sampling unit may be geographical one such as state, district, village, etc or a construction unit such as a flat, house, etc or it may be a social unit such as a family, club, school, etc or it may be an individual. In this the sampling unit is the manufacturing operations (PLANT) MANATEC ELECTRONICS PVT. LTD.

3.5 SAMPLING SIZE:

This refers to the number of items to be selected from the universe to constitute a sample. The size of sample should neither be excessively large, nor too small. It should be optimum. An optimum sample is one which fulfills the requirements of efficiency, representativeness, reliability and flexibility. From the total number of employees 25 have been selected for this project.

3.6 DATA COLLECTION METHOD:

Primary data are those which are collected for the first time and thus happen to be original in character. In this primary data are collected using questionnaires.

3.7 STATISTICAL TOOLS:

The data collected from the respondents were analyzed using the statistical technique. They are:

Crosstab

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CHAPTER-4

DATA ANALYSIS AND INTERPRETATION

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4.1 CROSSTABULATION:

4.1.1 TABLE SHOWING THE COMPARISON BETWEEN AGE AND RETIREMENT PLAN

retirement plan

Totalneutral somewhat important very important

Age 18<=25 1 3 2 6

26<=35 10 4 2 16

36<=45 1 2 0 3

Total 12 9 4 25

4.1.1 FIGURE SHOWING THE COMPARISON BETWEEN AGE AND RETIREMENT

PLAN

INFERENCE: From the above table it is inferred that 10 respondents of age group 26 to 35 years are neutral to retirement plan, 3 respondents of age group 18 to 25 years and 2 respondents of age group 36 to 45 years say that the retirement plan is somewhat important.

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4.1.2 TABLE SHOWING THE COMPARISON BETWEEN AGE AND RETENTION BONUS

Retbonus

TotalYes

Age 18<=25 6 6

26<=35 16 16

36<=45 3 3

Total 25 25

4.1.2 FIGURE SHOWING THE COMPARISON BETWEEN AGE AND RETENTION

BONUS

INFERENCE: From the above table it is inferred that 16 respondents of age group 26 to 35

years have accepted that retention bonus has an impact on the motivation level and performance

of an associate.

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4.1.3 TABLE SHOWING THE COMPARISON BETWEEN AGE AND REWARD

4.1.3 FIGURE SHOWING THE COMPARISON BETWEEN AGE AND REWARD

INFERENCE: From the above table it is inferred that the respondents of all age group have accepted that the reward will increase the employee retention all the time.

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Reward

Totalsometimes most of the times all the time

Age 18<=25 0 2 4 6

26<=35 2 5 9 16

36<=45 1 0 2 3

Total 3 7 15 25

4.1.4 TABLE SHOWING THE COMPARISON BETWEEN AGE AND RESPECT

Respect

Totalsometimes most of the times all the time

Age 18<=25 0 2 4 6

26<=35 2 5 9 16

36<=45 0 1 2 3

Total 2 8 15 25

4.1.4 FIGURE SHOWING THE COMPARISON BETWEEN AGE AND RESPECT

INFERENCE: From the above table it is inferred that the respondents of all age group have accepted that respect will increase the employee retention all the time.

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4.1.5 TABLE SHOWING THE COMPARISON BETWEEN AGE AND HEALTH BENEFIT

Health benefit

Totalneutral

somewhat

important very important

age 18<=25 5 0 1 6

26<=35 9 3 4 16

36<=45 0 0 3 3

Total 15 5 5 25

4.1.5 TABLE SHOWING THE COMPARISON BETWEEN AGE AND HEALTH BENEFIT

INFERENCE: From the above table it is inferred that 9 respondents of age group 18 to 25 years and 5 respondents of age group 26 to 35 years are neutral to health benefit and 3 respondents of age group 36 to 45 years say that health benefit for employment is very important.

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4.1.6 TABLE SHOWING THE COMPARISON BETWEEN AGE AND INSURANCE

Insurance

Total

not very

important Neutral

somewhat

important very important

Age 18<=25 0 0 3 3 6

26<=35 1 7 4 4 16

36<=45 0 0 0 2 3

Total 1 10 9 5 25

4.1.6 FIGURE SHOWING THE COMPARISON BETWEEN AGE AND INSURANCE

INFERENCE: From the above table it is inferred that 7 respondents of age group 26 to 35 years

are neutral to insurance scheme, 3 respondents of age group 18 to 25 years and 2 respondents of

age group 36 to 45 years suggest that insurance scheme is very important.

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4.1.7 TABLE SHOWING THE COMPARISON BETWEEN GENDER AND CURRENT ACHEIVEMENT

Curntachiv

TotalYes

gender male 19 19

female 6 6

Total 25 25

4.1.7 FIGURE SHOWING THE COMPARISON BETWEEN GENDER AND CURRENT ACHEIVEMENT

INFERENCE: From the above table it is inferred that 19 male respondents and 6 female

respondents has accepted that the company is providing rewards and recognition for the

necessary achievement.

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4.1.8 TABLE SHOWING THE COMPARISON BETWEEN GENDER AND WELFARE

Welfare

Totalneutral satisfied highly satisfied

gender male 7 10 2 19

female 1 5 0 6

Total 10 13 2 25

4.1.8 FIGURE SHOWING THE COMPARISON BETWEEN GENDER AND WELFARE

INFERENCE: From the above table it is inferred that 10 male respondents and 5 female respondents are satisfied with the welfare measures provided the company.

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4.1.9 TABLE SHOWING THE COMPARISON BETWEEN GENDER AND OPPORTUNITY FOR GROWTH AND DEVELOPMENT

Oppgthdev

TotalYes no

gender Male 14 5 19

Female 5 1 6

Total 19 6 25

4.1.9 FIGURE SHOWING THE COMPARISON BETWEEN GENDER AND OPPORTUNITY FOR GROWTH AND DEVELOPMENT

INFERENCE: From the above table it is inferred that 14 male respondents and 5 female

respondents has accepted that the company provides opportunities for growth and development.

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4.1.10 TABLE SHOWING THE COMPARISON BETWEEN GENDER AND FURTHER CARRIER

furthercarrier

TotalYes

gender male 18 18

female 7 7

Total 25 25

4.1.10 FIGURE SHOWING THE COMPARISON BETWEEN GENDER AND FURTHER CARRIER

INFERENCE: From the above table it is inferred that 18 male respondents and 7 female

respondents would like to plan their further carrier in this organization.

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CHAPTER-5

5.1FINDINGS

47

10 respondents of age group 26 to 35 years are neutral to retirement plan, 3 respondents of age group 18 to 25 years and 2 respondents of age group 36 to 45 years say that the retirement plan is somewhat important.

16 respondents of age group 26 to 35 years have accepted that retention bonus has an

impact on the motivation level and performance of an associate.

The respondents of all age group have accepted that the reward will increase the

employee retention all the time.

The respondents of all age group have accepted that respect will increase the employee

retention all the time. 9 respondents of age group 18 to 25 years and 5 respondents of age group 26 to 35 years

are neutral to health benefit and 3 respondents of age group 36 to 45 years say that health benefit for employment is very important.

7 respondents of age group 26 to 35 years are neutral to insurance scheme, 3 respondents

of age group 18 to 25 years and 2 respondents of age group 36 to 45 years suggest that

insurance scheme is very important.

19 male respondents and 6 female respondents has accepted that the company is

providing rewards and recognition for the necessary achievement. 10 male respondents and 5 female respondents are satisfied with the welfare measures

provided the company.

14 male respondents and 5 female respondents has accepted that the company provides

opportunities for growth and development.

18 male respondents and 7 female respondents would like to plan their further carrier in

this organization.

5.2 SUGGESTIONS

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Maintaining corporate image is an effective way to attract the talented. The

organisation has to ensure that it is sought after for employment by cashing on its good

will and reputation.

The organisation must identify its strengths and opportunities and portray them

effectively. This is almost equivalent to selling the organisation to the new recruits, it

helps in building positive impressions initially.

Organisations must hold strict exit interviews and review reasons for turnover. The

information must be ideally used to plan strategies for retention. Those issues that

might drive talent to leave should be dealt with immediately.

All information about the new recruits should be kept in mind even after the

recruitment process ends. This will help in identifying their potential and setting

performance targets thereby, maximising the recruit’s performance.

Organisations should look for the best fit into their territory with reviews from their

colleagues, customers and managers.

Organisations should design training programmes that match employee competencies

with current trends.

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Employer should help employees to prove their worth and bring out their talent

potentials, and avoid cost point.

Giving employees responsible tasks, while giving them the freedom to work in their

own style and motivates them to stay on.

Healthy relationships among the line members and staff members inspire employees to

stay on in any organisation.

Compensation plays an important role in attracting, motivating and retaining employees.

Creative retention strategies therefore have to be emphasised. This is the responsibility

of management and every employee of the organisation has to view it as a calculated

organisational challenge.

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5.3 CONCLUSION

The study “Retention of Employees” at workplace in Manatec Electronics Pvt. Ltd. was

conducted to analyze the impact of employee retention and its effect on work place outcomes.

The employee retention is neither common nor permanent for employer in the organization

hence this project considers the effect of employee retention through a mediating factor work

environment to study the various impact on job stress, job satisfaction and turnover intention.

Therefore the organization can impart certain practices that boost employee to perform well and

sustaining them in the organization by providing various welfare measures and implementing

retention strategies.

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CHAPTER-6

52

6.1 BIBLIOGRAPHY

Affirmative Action Office. (n.d.). Guidelines for recruiting a diverse workforce. Penn

State University.

Bates, S. (2005). Employee loyalty rules changing, experts tell SHRM foundation.

Retrieved September 27, 2005, from Society for Human Resource Management Website:

www.shrm.org.

Bates, S. (2006). Many employees itching to leave, new survey reveals. Retrieved from

Society for Human Resource Management Website: www.shrm.org

Branham, L. (2005). The seven hidden reasons employees leave. New York: American

Management Association.

Buckingham M. and Coffman, C. (1999). First, break all the rules. New York: Simon and

Schuster.

Chatsky, J. (2005). Don’t let your mortgage imprison you in a job. Retrieved October 3,

2005 from www.msnbc.msn.com

Clowney, C. (2005, October) Best practices in recruiting and retaining a diverse faculty.

Clowney and Associates: Web Conference.

Coleman, A. L., Palmer, S. R., Richards, F. S. (2005). Federal law and recruitment,

outreach, and retention: A framework for evaluating diversity-related programs. The

College Board.

DiversityInc. (2005, November). Diversity training. DiversityInc Webinar.

Employee retention toolkit. Retrieved December 20, 2005, from Society for Human

Resource Management Website: www.shrm.org

Esen, E. (2005, October). 2005 Workplace diversity practices: Survey report. Alexandria,

VA: Society for Human Resource Management.

Esen, E. (2005, November). U.S. job recovery and retention: Poll findings. Alexandria,

VA: Society for Human Resource Management.

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WEBSITES:

www.scribd.com

www.retentionconnection.com

www.slideshare.net

www.citehr.com

www.managementparadise.com

hrmba.blogspot.com

www.ehow.com

http://ezinearticles.com

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CHAPTER-7

55

ANNEXURE

A STUDY ON THE RETENTION OF EMPLOYEES

Designation:

Age group:

a)18-25 b)26-35 c)36-45 d)46-55 e)Over 55

Gender:

a)Male b)Female

1. How much are you satisfied with the current job?

a)Very high b)Fairley enough c)Moderate d)Very less

2. Do you have Rewards and recognition for your achievements in current company?

a)Yes b) No. If no, Please specify the reason.

3. Is it important that appreciation for your work by your coworkers and supervisors

is necessary?

a)Yes b) No. If no, Please specify the reason………

4. How do you rate the infrastructure and equipment provided by the organization?

a)Excellent b)Very good c)Good d)Poor e)Worst

5.Does the retention bonus have any impact on the motivation levels for an associate?

a)Yes b)No. If no, Please specify the reason……..

6. Do you feel that the company provides opportunities for your growth and development?

a)Yes b) No. If no, Please specify the reason……

7. Do you think that the implementation of three Rs (recognition, reward, respect) will increase

employee retention?

Never Sometimes Most of the times All the time

Recognition

Reward

Respect

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8. What is your opinion on the working environment? 

a)Highly Dissatisfied b)Dissatisfied c) Neutral d)Satisfied e)Highly Satisfied

9. Express your level of satisfaction regarding the welfare measures provided by the Company?

a) Highly Dissatisfied b) Dissatisfied c) Neutral d) Satisfied e) Highly Satisfied

10. Have you worked in any other organization previously to this company?

a)Yes b) NoIf yes, for what reason you shifted to this company?

11. BenefitsPlease rate the following benefits of employment on a scale of 1 to 5 where 1 = not at all

important and 5 = very importantNOT AT ALL IMPORTANT

NOT VERY IMPORTANT

NEUTRAL SOMEWHAT IMPORTANT

VERY IMPORTANT

Salary/Compensation 1 2 3 4 5

Leave benefits (Including sick, vacation, personal and paid holidays)

1 2 3 4 5

Retirement plans 1 2 3 4 5

Health and related benefits

1 2 3 4 5

Long term care insurance

1 2 3 4 5

Deferred compensation 1 2 3 4 5

Employee Assistance Program (EAP)

1 2 3 4 5

Life works (resource and referral)

1 2 3 4 5

12. Would you like to plan your further carrier in this organization?

a ) yes b ) No. If no, please specify the reason

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