CHAPTER 1

1.1 INTRODUCTION

Employee retention refers to the ability of an organization to retain its employees.

Employee retention can be represented by a simple statistic (for example, a retention rate
of 80% usually indicates that an organization kept 80% of its employees in a given
period)However, many consider employee retention as relating to the efforts by which
employers attempt to retain employees in their workforce. In this sense, retention
becomes the strategies rather than the outcome.

A distinction should be drawn between low-performing employees and top performers,

and efforts to retain employees should be targeted at valuable, contributing employees.
Employee turnover is a symptom of deeper issues that have not been resolved, which may
include low employee morale, absence of a clear career path, lack of recognition, poor
employee-manager relationships or many other issues.A lack of satisfaction and
commitment to the organization can also cause an employee to withdraw and begin
looking for other opportunities. Pay does not always play as large a role in inducing
turnover as is typically believed.

In a business setting, the goal of employers is usually to decrease employee turnover,

thereby decreasing training costs, recruitment costs and loss of talent and organizational
knowledge .By implementing lessons learned from key organizational behavior concepts,
employers can improve retention rates and decrease the associated costs of high turnover.
However, this isn't always the case. Employers can seek "positive turnover" whereby they
aim to maintain only those employees whom they consider to be high performers.

Ways to retain employee

1) Treating employees like most valuable clients.

2) Getting the employees to “fall in love” with the organization

3) Strong retention strategies become strong recruiting advantages

1
4) Retention is much more effective when putting the right person into the right job.
Knowing the job, knowing the employees and their motivations.

5) Money is important not it is not the only reason people stay with an organization.

Principles of retention of employee

1) Employee decides

Each employee ultimately decides whether they wish to stay or leave.

An employee may decide to leave despite not having another position lined up. An
employee may decide to stay despite better financial offers from other firms.

2) Different preferences

One may attach greater value to the financial reward, what matters most to another is
the chance to spend time with their family.

3) Unavoidable departures

Firms should concentrate their efforts on minimizing the number of avoidable

departures.

4) Competitive marketplace

If the competition offers your employee an overall package that the employee prefers
to their current one, they have a problem. However they have the option of making a counter
offer

5) Headhunters exist

Contented employee may find themselves in possession an alternative offer of

employment.

6) Cost of turnover

Where the cost of turnover is high, investing resources can produce saving for a firm.

2
7) Total reward

Firms seek to maximize the total reward each individual receives. They view
alternative in terms of the value of life model.

8) Understanding organizations employees

The firm that best understands the needs, aspirations, expectations, and preferences of
its employees is likely to be in a strong positions to gain a competitive advantage in retention
and ultimately, in terms of human capital

9) Interpretation

It is a successful employee vale proposition s to tailor it to employees. It is they that

will determine the value on offer.

10)Flexibility and choice

Providing choice wherever possible is, on balance, a sensible strategy. A rigid system
is less likely to retain individuals than a flexible one.

Importance of the study

 Employee Retention represents the methods employed by the management to help the
workers stay with the company for so many years.

 Worker retention techniques go a long way in encouraging the workers so that they
adhere to the company for the long stay and play their employee role successfully.

 Honest initiatives must be taken to make sure learning and enjoy their work for the
employees in their current projects

Retention Tools and Resources

 Employee Surveys

o By surveying employees, organizations can gain insight into the motivation,

3
 engagement and satisfaction of their employees. It is important for
organizations to understand the perspective of the employee in order to create
programs targeting any particular issues that may impact employee retention.

 Exit Interviews

o By including exit interviews in the process of employee separation,

organizations can gain valuable insight into the workplace experience. Exit
interviews allow the organization to understand the triggers of the employee’s
desire to leave as well as the aspects of their work that they enjoyed. The
organization can then use this information to make necessary changes to their
company to retain top talent. Exit interviews must, however, ask the right
questions and elicit honest responses from separating employees to be
effective.

 Employee Retention Consultants

o An employee retention consultant can assist organizations in the process of

retaining top employees. Consultants can provide expertise on how to best
identify the issues within an organization that are related to turnover.

The Three R’s of employee retention

Respect
Recognition
Rewards

4
 Respect

o It is esteem special regard, or particular consideration given to people for the

purpose of respecting employees in the organization.

 Recognition

o Special notice or attention and the act of perceiving clearly.

o Many problems with retention and morale occur because management is not
paying attention to people’sneeds and reactions.

 Rewards

o Extra perks offer beyond the basics of respect and recognition that make it worth
peopleswhile to work hard, to care, to ho beyond the call of duty.

5
Basic model for retention of employees

Gender

Personal characteristics Education

Marital status

Age

Self-esteem

Participation
Retention of
Employees(organi
Accountability
zational
outcomes)
Growth prospects

Core job dimension Feeling of accomplishment

Prestige inside and outside

Interpersonal relationship

Working condition

Job security

Authority

1.2 REVIEW OF LITERATURE

Actor et al., the human resource department plays an active role in retaining its
employees. It make policies for employee betterment such that employee would be satisfied
with the organization and say with the firm for longer time.”

Adamolekun(2005) it is becoming more essential to secure and manage competent

6
human resource as the most valuable resource of any organization, because of the need for
ejective and efficient delivery of goods and services by organization”

Baker(2006) gave stress on the fact that hiring new employees are far difficult as well
as costlier that to keep current employees in the organization. That is why the core issue in
any organization is to give a continuous ongoing effort to identify and try to keep all the best
performersirrespective on their age.

Brown (2005) claimed that an orientation program which is designed appropriately,

Cascio (2003) Perceived retention as initiatives which the management takes to

prevent employees from leaving the organization. The issues which the latter further
proposed are employees being rewarded for doing their jobs effectively, ensuring that the
relationship between employees and managers are harmonious, and maintaining a working
atmosphere which is safe and healthy.

Casio (2003) have agrees that an organizations inability to formulate and implement
strategies capable of recruiting competent employees and retaining them to achieve
organizational goals is one of the main challenge facing organizations in the area of
performance.”

Cutler(2001) was of the view that one of the most important demand on management
today in any organization is keeping the most vital and dynamic human resources motivated
and dedicated. It is not important to see who the organization hires but what counts is that
who are kept in the firm.”

Denton (2000) has clearly stated that employees who are happy and satisfied with
their hjobs are more dedicated towards their works and always put their effort to improve
their organizationsl customers”

Gberenbie(2008) “ appropriate employee retention stratifies are adopted and

implemented by organizations employee will surely remaining work for the goals”

Giberevbie (2008) has stated that employees’retention strategies refer to plans and
means, and a set of decision making behavior put formulated by the organizations to retain
their competent workforce for performance.”

Heneman and Tansky(2002) “Instead, there should be the development of HR

7
theories such as those dealing with retention that are specific to small growth-oriented firms
and their strategic practices “

Kaliprasad (2006)“despite the fact that a company may try to bring all these factors
into play to enhance employee retention, an employee can still choose to leave the
workplace”

Maertz and campion stated “relatively less turnover research has focused
specifically on how an employee decides to remain in with organization and what determines
this attachment it processes should be studied along with quitting process”

Olown says “A systematic effort to create and foster an environment that encourages
employees to remain employed by having policies and practices in place that address their
diverse needs.”

Panoch (2001) organizations today take great care in retaining its valuable employees
and good employees as they are increasingly becoming more difficult to find”

Samuel and Chipunza (2009), the most important purpose of retention is to look for
ways to prevent the capable workers from quitting the organization as this could have
negative effect on productivity and profitability. t is short or long, will improve retention of
employees."

Statuss et al., has said retention as” employees liking identification, commitment,
trust readiness ot recommend, and repurchase intentions, with the first four being emotional
cognitive retention constructs, an the last two being behavioral intentions”

Steel, griffesh & hom added to this view that “ the fact is often overlooked but the
reasons people stay are not always the same as the reasons people leave”

Talpin et al., have found that if employees will surely remain and work for the
successful achievement of organizational goals.”

Walker(2001) was of the view that managing and retaining promising employees are
an important fundamental mean of achieving competitive advantage among the
organizations”

Wisconsin State Government (2005), placed emphasis on managers' systematic

8
effort to create organizational systems and an environment which is conducive for addressing
the diverse needs of their current employees in order to sustain their continued employment
through harmonious work practices

Zineldin(2000) has viewed retention as an obligation to continue to do business or

exchange with a particular company on ongoing basis”

1.3 OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE

To study about the overall importance, factors, models for retaining employees in
Town Benefit Fund Nidhi, Kumbakonam.

SECONDARY OBJECTIVE

o To identify and rank the factors of retention based of accumulative literature

o To explore and analyze the dimensions of retention in town benefit fund based
on primary data collected from field survey.

o To develop a regression model for escalating the stay of employees in fund

and give recommendations for the same.

o To assess the existing level of employees motivation and validate the model
by studying the impact of recommendations on a small patch.

1.4HYPOTHESIS
We propose following hypothesis to study the on customer satisfaction in Town Benefit
Fund Nidhi, Kumbakonam, The general format will be

 Null hypothesis (H0): There is no significant relationship between the

dependent and independent variable.
 Alternative hypothesis (H1): There is a significant relationship between the

9
 dependent and independent variable.

The hypotheses used in this study are,

1. Null hypothesis (H0): There is no significant relationship between experience and
scale of pay.
2. Alternative hypothesis (H1): There is a significant relationship between experience
and scale of pay.

1.5STATEMENT OF THE PROBLEM

This study is discussing about the major problem to find out the ways to retain the
employees in the organization from the major cause of attrition due to facing difficult factors
such as salary, climate of organization, conflicts, grievances etc..

1.6 NEEDS FOR THE STUDY

 A company spends lots of money in developing an individual person and makes him
ready to work great and understand the corporate working culture.

 When an employee resigns his job from present company, it is more likely that he/she
may join the competitors firm.

 If an employee working in an organization for many years, they can understand the
particular firm’s guidelines, so thus they can adjust better.

 It is an essential for the company to maintain the good working employee and his
presenting potential.

1.7 SCOPE OF THE STUDY

 Although the development of motivation model to tackle the problem of

retaining the employees in this sector has inputs from a variety of sources
including primary and secondary sources, the study is confined to the data
collected from the national capital region of India.
10
  Moreover, only selected facts of job characteristics have been considered for
the study. There are many which can be included in order to assess employee
motivation.

 Therefore scope of the study is limited to the geographical location of the

sample size and also to the selected dimensions of personal characteristic s and
employee motivation

1.8RESEARCH METHODOLOGY

Research in common parlance refers to a search for knowledge. The advance learner’s
dictionary of current English lays the meaning of research as a systematized effort to gain
knowledge.

SAMPLING METHOD

Primary data and secondary data have been used in this study.

Sample universe - 26 employees

Sample size - 26 employees

Sample extended - within the work place

Sample media - questionnaire

1.8.1 DATA COLLECTION METHODS

PRIMARY

Primary data are those which are collected data for the first time, and thus happen to
be original in character. The data collected directly from all the employees taken as the
respondents is through questionnaire; the data collection is directly related to the topic being
studied the categories of employee coverage during data are executive level, staff level and
operator level.
11
SECONDARY

Secondary data are those, which have been collected by someone else for some other
purpose. In other words, secondary data refers to data complied already available data. There
are no sources found on the above topic.

1.8.2TOOLS FOR DATA COLLECTION

 Questionnaires have been used as the tools for data collection in this study as a
direct tool to reach the target.

 Questionnaires for executive level employees

 Questionnaires for staff level employees

1.8.3 STATISTICAL TOOLS APPLIED

 Percentage analysis

 Chi square test

 PERCENTAGE ANALYSIS

Percentage refers to a special kind of ratio. Percentage analysis test is done to find out
the percentage of the response of the respondents.

In the tool various percentage are presented by the way of line diagram, bar-diagram,
pie-charts, scatter diagram in order to have better understanding of the analysis.

12
FORMULA

No. of respondents

Percentage = X 100

Total no. of respondents

 CHI – SQUARE

Chi square is an important test amongst the several test of significance developed by
statisticians. Chi – Square symbolically written as X2, X2 is a statistical measure used in the
context of sampling analysis for comparing a variance to a theoretical variance.

It can be used to determine if categorical data shows dependency of the two

classifications are independent. It can also be used to make comparisons between theoretical
populations and actual data when categories are used.

ψ 2=
∑ (0−E )2
E

1.9 LIMITATION OF STUDY

 The sample size was limited and thereby could not take into account all the employees
of the organization for the study.

 The time constraint is also major limitation in the study.

 Contradictions were found in few responses

13
1.10CHAPTER SCHEME

Chapter 1

The first chapter comprises of introduction of the project statement of the

problem,review of literature, objective of the study, hypothesis, research methodology ,
research design, sampling design, scope of the study, statistical tools used, limitationsof the
study.

Chapter 2

In this chapter focuses on the company profile where the project was taken place

Chapter 3

This chapter includes the data analysis and interpretation.

Chapter 4

Finally this last chapter composes of findings, suggestions and conclusion.

14
 CHAPTER 2

COMPANY PROFILE

2.1 COMPANY DESCRIPTION

TBF NIDHI (KUMBAKONAM) LTD., is an Indian based company

which carries on the business of encouraging and cultivating thrift, saving habits and
rendering all financial assistance among the member of the company.

2.2 AREAS OF DEALING

Receiving long and short term deposits, fixed, recurring, saving and other
permissible deposits as allowed by law and advancing or lending money to the members on
the security immovable properties such as land and buildings and movable properties. The
company has its registered office in the state of Tamil Nadu.

2.3 HISTORY

TBF NIDHIwas established on 29 th AUGUST 1993 in the temple city of

Kumbakonam, with the blessings of the makkal sakthi movement founder Dr. M.S.
Udayamurthi, Sri. S.R.G.Renganathan chettiar, (presidend of KMBF Limited),
Sri. P. Vaidhyanathan, chairman integrated enterprises (India) ltd, Sri Ramasubramanian,
(president Madurai permanent fund limited) along with our founder members
Sri. S.M. Swaminathan, sri. CA. M. Raman Sri. Dr.P.Ravichandran, Sri. T.
Manickavasagam, Sri. S.R. Sridharan, Sri. B. Mukuntharamanujam, Smt. Y.Kanniga, Sri.
G.Baskaran, Sri. N. Rengasamy,

2.4 BRANCHES

Registered Office Kumbakonam (Main Branch), Kumbakonam (Town Branch).

Thiruvarur Branch, Nanganallur Branch, Madipakkam Branch, and Pattukkottai Branch were
15
housed at our own premises " HOUSE OF MUTUALS "

s.no Areas S,no Areas

1 Town branch 20 Coimbatore

2 Main branch 21 Virudachalam

3 Pattukkottai 22 Jayankondam

4 Thanjavur 23 Mayiladudhurai

5 Mannargudi 24 Karur

6 Thiruvarur 25 Salem

7 Panruti 26 Tiruppur

8 Madurai 27 Erode

9 Srirangam 28 Sirkazhi

10 Manapparai 29 Karanthai

11 Ambattur 30 West Mambalam

12 Virugambakam 31 Anna nagar

13 Triplicane 32 Chitlapakkam

14 Thambaram 33 Pammal

15 Urappakam 34 Porur

16 ,Ariyalur, 35 Pazanganatham

17 Kallakurichi 36 Madipakkam

18 Nanganallur 37 Cuddalore

19 Kattur 38 Vandavali

16
2.5 SCHEMES RENDERING BY TOWN BENEFIT FUND NIDHI

 Children educational saving scheme

Monthly installment Months Monthly amount

795 12 10,005

1,590 12 20,010

2,384 12 30,003

3,179 12 40,008

3,973 12 50,000

4,768 12 60,005

5,563 12 70,010

6,357 12 80.003

7,152 12 1,00,000

 Regular general lakshadhipathi scheme:

Monthly installment Months Maturity amount

7,946 12 1,00,000

3,828 24 1,00,006

2,456 36 1,00,002

1,783 48 1,00,000

17
  Fixed deposit and cumulative

Deposit period Regular Senior citizen Super senior citizen

1 year 8.5% 8.5% 8.5%

6 months 8.5% 8.5% 8.5%

2.6 MANAGEMENT TEAM

 R. VIJAYAKUMAR - PRESIDENT

 Mr. P. RAVICHANDRAN MBBS, MS- CHAIRMAN OF BOARD

 MR. B. MUKUNTHA RAMANUJAM - DIRECTOR , FORMAR PRESIDENT

DIRECTORS:

 MR. S. R. SRIDHARAN

 MR. G. BASKARAN

 Y .KANNIGA

 K.E.B. RAMGARAJAM (IRS)

 S. RAJAVEL

 S. ABAIKUMAR

 R. LAKSHMANAN

 T. MANIKAVASAGAM

 CA. M. RAMAN

18
CHAPTER 3

DATA ANALYSIS AND INTERPRETATION

TABLE 3.1

AGE OF EMPLOYEE

FACTORS NO. OF RESPONDENTS PERCENTAGE

30-35 6 23

35-40 9 35

40-45 6 23

45-50 5 19

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that 23% of employee were under 30-35 of age,
35% were under 35-40, 23% were between 40-45, 19% were under 45-50.

CHART 3.1
19
AGE OF EMPLOYEE

TABLE 3.2
20
 QUALIFICATIONS OF EMPLOYEES

FACTORS NO. OF RESPONDENTS PERCENTAGE

HSC 2 8

SSLC 6 23

UG 8 31

PG 9 35

OTHERS 1 4

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 8% of the
respondents are HSC, 23% of the respondents are SSLC, 31% of respondents are UG, 31% of
the respondents are PG, 4% of the respondents are strongly OTHERS.

CHART 3.2

QUALIFICATIONS OF EMPLOYEES

21
TABLE 3.3

22
 FACTORS NO OF RESPONDENTS PERCENTAGE

0-5 5 20

5-10 15 58

10-15 5 19

Above 15 1 4

TOTAL 26 100

EXPERIENCE OF EMPLOYEES

SOURCE:PRIMARY DATA

INFERENCE:

From the above table, it was inferred experience that 3 % of the respondents are 0-5, 6% of
the respondents are 5-10, 14% of respondents are 10-15, 77% of the respondents are above
15 years of experience.

23
 CHART 3.3

EXPERIENCE OFEMPLOYEES

24
 TABLE 3.4

LEVEL OF SATISFACTION ON DESIGNATION

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 10 38

SATISFIED 12 46

NEUTRAL 4 15

DISSATISFIED 0 0

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE:

From the above table, it was inferred that your job progression to 38% of the
respondents are highly satisfied, 46% of the respondents are satisfied, 15% of respondents are
neutral, 0% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

25
 CHART 3.4

LEVEL OF SATISFACTION ON DESIGNATION

26
 TABLE 3.5

SECURITY ON JOB

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 5 19

SATISFIED 15 58

NEUTRAL 4 15

DISSATISFIED 2 8

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 19% of the
respondents are highly satisfied, 58% of the respondents are satisfied, 15% of respondents are
neutral, 8% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

27
 CHART 3.5

SECURITY ON JOB

28
 TABLE 3.6

JOB STATUS

SOURCE: PRIMARY DATA

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 7 30

SATISFIED 10 38

NEUTRAL 4 15

DISSATISFIED 4 15

HIGHLY DISSATISFIED 1 4

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 30% of the
respondents agree, 38% of the respondents are strongly agree, 15% of respondents are
neutral, 15% of the respondents are disagree, 4% of the respondents are highly dissatisfied.

29
CHART 3.6

JOB STATUS

30
 TABLE 3.7

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 5 19

SATISFIED 19 73

NEUTRAL 1 4

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

APPRECIATION FOR GOOD WORK

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 19% of the
respondents are highly satisfied, 73% of the respondents are satisfied, 4% of respondents are
neutral, 4% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

CHART 3.7

31
APPRECIATION FOR GOOD WORK

32
 TABLE 3.8

COUNSELLING AVAILABILITY

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 6 23

SATISFIED 16 62

NEUTRAL 4 15

DISSATISFIED 0 0

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 23% of the
respondents are highly satisfied, 62% of the respondents are satisfied, 15% of respondents are
neutral, 0% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied

CHART 3.8
33
COUNSELLING AVAILABILITY

34
 TABLE 3.9

SUPERIOR GUIDANCE

SOURCE: PRIMARY DATA

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 5 19

SATISFIED 15 58

NEUTRAL 4 8

DISSATISFIED 2 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 19% of the
respondents are highly satisfied, 58% of the respondents are satisfied, 8% of respondents
are neutral, 4% of the respondents are dissatisfied, 0% of the respondents are highly
dissatisfied.

CHART 3.9

35
SUPERIOR GUIDANCE

TABLE 3.10

36
RELATIONSHIP WITH SUPERIORS

SOURCE: PRIMARY DATA

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 8 31

SATISFIED 12 92

NEUTRAL 5 20

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 31% of the
respondents are highly satisfied, 92% of the respondents are satisfied, 20% of respondents are
neutral, 4% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

37
 CHART 3.10

RELATIONSHIP WITH SUPERIORS

TABLE 3.11

RELATIONS WITH CO-WORKER

38
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 7 30

SATISFIED 14 54

NEUTRAL 2 8

DISSATISFIED 2 8

HIGHLY DISSATISFIED 1 0

TOTAL 26 100

INFERENCE

SOURCE: PRIMARY DATA

` From the above table, it was inferred that your job progression to 30% of the
respondents are highly satisfied, 54% of the respondents are satisfied, 8% of respondents are
neutral, 8% of the respondents are dissatisfied, 1% of the respondents are highly dissatisfied.

39
 CHART 3.11

RELATIONS WITH CO-WORKER

TABLE 3.12

RECRUITMENT POLICY
40
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 8 35

SATISFIED 9 40

NEUTRAL 4 20

DISSATISFIED 2 9

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 35% of the
respondents are highly satisfied, 40% of the respondents are satisfied, 20% of respondents are
neutral, 9% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied..

CHART 3.12

RECRUITMENT POLICY

41
Table 3.13

42
 MODE OF SELECTION

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 4 44

SATISFIED 16 70

NEUTRAL 4 9

DISSATISFIED 2 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 44% of the
respondents are highly satisfied, 70% of the respondents are satisfied, 9% of respondents
are neutral, 6% of the respondents are dissatisfied, 0% of the respondents are highly
43
dissatisfied.

CHART 3.13

MODE OF SELECTION

44
 TABLE 3.14

PROMOIONAL PRACTICE

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 10 38

SATISFIED 7 30

NEUTRAL 6 23

DISSATISFIED 3 12

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 38% of the
respondents are highly satisfied, 30% of the respondents are satisfied, 23% of respondents
are neutral, 12% of the respondents are dissatisfied, 0% of the respondents are highly
dissatisfied.

45
 CHART 3.14

PROMOTIONAL PRACTICE

46
 TABLE 3.15

LEAVE RULES

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 10 38

SATISFIED 11 42

SOURCE: PRIMARY DATA

INFERENCE
From the above table, it was inferred that your job progression to 38% of the
respondents are highly satisfied, 42% of the respondents are satisfied, 9% of respondents
are neutral, 4% of the respondents are dissatisfied, 0% of the respondents are highly
dissatisfied.

47
NEUTRAL 4 9

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

CHART 3.15

LEAVE RULES

48
 TABLE 3.16

GREIVANCES REDRESSAL PROCEDURE

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 11 43

SATISFIED 9 34

NEUTRAL 4 9

DISSATISFIED 2 9

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

49
 CHART 3.16

GREIVANCES REDRESSAL PROCEDURE

SOURCE: PRIMARY DATA

INFERENCE
From the above table, it was inferred that your job progression to 43% of the
respondents are highly satisfied, 34% of the respondents are satisfied, 9% of respondents are
neutral, 6% of the respondents are dissatisfied, 0% of the respondents are highly
dissatisfied.

50
 TABLE 3.17

HOURS OF WORIKING IN A DAY

51
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 9 35

SATISFIED 10 38

NEUTRAL 6 23

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 35% of the
respondents are highly satisfied, 38% of the respondents are satisfied, 23% of
respondents are neutral, 4% of the respondents are dissatisfied, 0% of the respondents
are highly dissatisfied.

CHART 3.17

HOURS OF WORIKING IN A DAY

52
 TABLE 3.18

SAFETY ARRANGEMENTS

53
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 7 30

SATISFIED 6 23

NEUTRAL 9 35

DISSATISFIED 3 13

HIGHLY DISSATISFIED 1 4

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 30% of the
respondents are highly satisfied, 23% of the respondents are satisfied, 35% of
respondents are neutral, 4% of the respondents are dissatisfied, 4% of the respondents
are highly dissatisfied.

CHART 3.18

SAFETY ARRANGEMENTS

54
` TABLE 3.19

EMPLOYEE BENEFIT SCHEME

55
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 6 35

SATISFIED 13 57

NEUTRAL 6 18

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 35% of the
respondents are highly satisfied, 57% of the respondents are satisfied, 18% of
respondents are neutral, 4% of the respondents are dissatisfied, 0% of the respondents
are highly dissatisfied.

CHART3.19

EMPLOYEE BENEFIT SCHEME

56
 TABLE 3.20

PROVIDENT FUND SCHEME

57
SOURCE: PRIMARY DATA

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 9 35

SATISFIED 9 35

NEUTRAL 6 23

DISSATISFIED 2 8

HIGHLY DISSATISFIED 1 4

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 35% of the
respondents are highly satisfied, 35% of the respondents are satisfied, 23% of respondents
are neutral, 8% of the respondents are dissatisfied, 4% of the respondents are highly
dissatisfied.

CHART 3.20

PROVIDENT FUND SCHEME

58
 TABLE 3.21

INSURANCE SCHEME

59
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 5 19

SATISFIED 12 46

NEUTRAL 7 27

DISSATISFIED 0 0

HIGHLY DISSATISFIED 2 8

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 19% of the
respondents are highly satisfied, 46% of the respondents are satisfied, 27% of
respondents are neutral, 0% of the respondents are dissatisfied, 8% of the respondents
are highly dissatisfied.

CHART 3.21

INSURANCE SCHEME
60
 TABLE 3.22

MAINTAINENCE OF RESTROOMS

61
 FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 13 50

SATISFIED 8 30

NEUTRAL 5 19

DISSATISFIED 0 0

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

SOURCE: PRIMARY DATA

INFERENCE

From the above table, it was inferred that your job progression to 50% of the
respondents are highly satisfied, 30% of the respondents are satisfied, 19% of respondents are
neutral, 0% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

CHART 3.22

MAINTAINENCE OF RESTROOMS

62
 TABLE 3.23

SCALE OF PAY AND ALLOWANCES

63
SOURCE: PRIMARY DATA
FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 8 31

SATISFIED 10 38

NEUTRAL 6 23

DISSATISFIED 2 9

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 31% of the
respondents are highly satisfied, 38% of the respondents are satisfied, 23% of respondents are
neutral, 9% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

CHART 3.23

SCALE OF PAY AND ALLOWANCES

64
TABLE 3.24

65
PAY REVISION PERIOD ON SALARY

SOURCE: PRIMARY DATA

FACTORS NO OF RESPONDENTS PERCENTAGE

HIGHLY SATISFIED 12 46

SATISFIED 11 42

NEUTRAL 2 8

DISSATISFIED 1 4

HIGHLY DISSATISFIED 0 0

TOTAL 26 100

INFERENCE

From the above table, it was inferred that your job progression to 46% of the
respondents are highly satisfied, 42% of the respondents are satisfied, 8% of respondents are
neutral, 4% of the respondents are dissatisfied, 0% of the respondents are highly dissatisfied.

CHART 3.24

66
PAY REVISION PERIOD ON SALARY

TABLE- 3.25.1

67
 TEST OF INDEPENDENCE BETWEENPAY SCALE AND EXPERIENCE OF
EMPLOYEES H0 AND H1

PAY SCAL E
OF
EMPLOYEES HS S N D HD Total

EXPERIENCE

0-5 3 3 1 1 0 8

5-10 3 5 1 0 0 9

10-15 2 3 2 1 0 8

ABOVE 15 1 0 0 0 0 1

TOTAL 9 11 4 2 0 26

Expected table:
68
3 = 8 x 9 / 26 =2.8
3 = 8 x 11/26 = 3.4
1 = 8 x 4/26 = 1.2
1 = 8 x 2/26 = 0.6
0 = 8 x 0/26 = 0
3 = 9 x 9/26 = 3.1
5 = 9 x 11/26 = 3.8
1 = 9 x 4/26 = 1.3
0 = 9 x 2/26=0.6
0 = 9 x 0/26 = 0
2 = 8 x 9/26 = 2.8
3 = 8 x 1/26 = 0.3
0 = 8 x 0/26 =0
0 = 1x 11/26 = 0.4
0 = 1 x 4/26 = 0.2
0 = 1 x 2/26=0.1
0 = 1 x 0/26 = 0

TABLE - 3.25.2
69
 2
(Oi−Ei )
Oij Eij (Oi-Ei) (O-E)2
Ei

5 7.35 -2.35 5.52 0.75

54 52.26 1.74 3.02 0.05

38 35.93 2.07 4.28 0.11

1 2.45 -1.45 2.10 0.85

0 0 0 0 0

2 0.97 1.03 1.06 1.09

5 6.93 -1.93 3.72 0.53

5 4.76 0.24 0.05 0.01

1 0.32 0.68 0.46 1.43

0 0 0 0 0

2 0.52 1.48 2.19 4.21

3 3.73 -0.73 0.53 0.14

1 2.56 -1.56 2.43 0.94

1 0.17 0.83 0.68 4

0 0 0 0 0

0 0.15 -0.15 0.02 0.13

2 1.06 0.94 0.88 0.83

0 0.73 -0.73 0.53 0.72

0 0.05 -0.05 0.002 0.04

0 0 0 0 0

70
 Total 15.83

2 = Table Value for 5%

71
 =
∑ (O−E)
2

2 E
2 = 15.83

Degree of freedom
= ( - 1) (c-1)
= (5-1) (5-1)
= 4 x 4 = 16
2 Table value for 5% at 4 d.f= 26.296
X2Calculated value of (2 ) < Table value of (2 )
i.e. 15.83 < 26.296
Hence,
Accept H0
STATISTICAL INFERENCE
There is no association between pay scale and experience of employees

72
 CHAPTER - 4

FINDINGS, SUGGESTIONS AND CONCUSION

FINDINGS:
 23% of respondents belong to above 30 years of age.

 35% of respondents are PG holders.

 20 % of the respondents are having below 5 years of experience.

 38% of the respondents are highly satisfied on their designation.

 0% of the respondents are highly dissatisfied on security of job.

 38% of the respondents are satisfied with job status.

 4% of the respondents are neutral on appreciation for work done.

 0% of the respondents are dissatisfied with counseling availability.

 58% of the respondents are satisfied with superior guidance.

 31 % of the respondents are highly satisfied with superiors relationship.

 8% of the respondents are neutral with relation with co-worker.

 0% of the respondents are highly dissatisfied with recruitment policy.

 70% of the respondents are highly satisfied with mode of selection.

 12% of the respondents are dissatisfied on promotional practice.

 9% of the respondents are neutral on leave rules.

 There is no association between pay scale and experience of employees

73
SUGGESTIONS:

• Many employees have suggested improvement in working environment and

employee retention in the survey. So the companies should give attention to the factors which
it can improve itself internally.
• Even though the employees are satisfied with their nature of job, it is identified in
the study that many employees prefer to change their job due to lack of growth opportunities
in their job. So the companies can look for some innovative technologies to increase their
retention level by providing growth opportunities.
• The companies should conduct regular meetings to know about what exactly
employee expect. Organizations should focus on exit interviews.
• The companies may give training like Personality Development and Self
improvement training to the employees, every three or six months once this status has to be
reviewed and necessary action can be taken. It is better to have such training in the future.

74
CONCLUSION:
The main aim of any organization is to earn profit. But to attain the maximum profit,
the organization should concentrate more on employees and the ways to retain them for their
long run. From the study it is identified that lack of growth opportunities and salary are the
major factors which force employees to change their jobs. This study concludes that to reduce
retention industries should create some opportunities for the growth of their employees within
the organization by adopting new Innovative Technologies and Effective training programs.
The company should also think of recruiting people who are in the vicinity of the industry.

75