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Employee Retention: Maruti Suzuki

Maruti Suzuki is a leading automobile manufacturer in India that is 56.21% owned by Japanese company Suzuki Motor Corporation. The document discusses employee retention at Maruti Suzuki, noting that high employee turnover is costly due to training costs and lost productivity during the hiring and training process. It aims to evaluate factors that affect employee satisfaction and retention, such as working environment, authority and responsibilities, and hierarchical systems, through a survey of 150 employees across the marketing, technical, and finance departments. Statistical analysis methods like factor analysis, regression, and correlation will be used to determine which factors have the greatest impact on retention rates.

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Deeksha Sharma
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845 views9 pages

Employee Retention: Maruti Suzuki

Maruti Suzuki is a leading automobile manufacturer in India that is 56.21% owned by Japanese company Suzuki Motor Corporation. The document discusses employee retention at Maruti Suzuki, noting that high employee turnover is costly due to training costs and lost productivity during the hiring and training process. It aims to evaluate factors that affect employee satisfaction and retention, such as working environment, authority and responsibilities, and hierarchical systems, through a survey of 150 employees across the marketing, technical, and finance departments. Statistical analysis methods like factor analysis, regression, and correlation will be used to determine which factors have the greatest impact on retention rates.

Uploaded by

Deeksha Sharma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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EMPLOYEE RETENTION

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

Who is eventually accountable for staff retention?


The company’s governing body and Leadership team is responsible for sourcing, hiring
and retaining employees. Hiring and retaining good employees requires focussed,
recognized and comfortable policies and procedures which make retention a prominent
and significant management objective. To appreciate staff every day and constantly work
to keep them on board is the job of the manager.

PROBLEMS ASSOCIATED WITH EMPLOYEE TURNOVER :


High Cost of Employee Turnover
The costs of high staff turnover can be incredible. When a firm hires a worker, it provides
the necessary training to the employee at its own cost. During the initial working days of
the employee, his/her productivity levels operate between 25%-50%. Also, when the
employee leaves the organisation and his/her role is vacant, it adds to the low sale cost
of the company.
Impact on Business
Replacing employees turns out to be very expensive for an organisation It is indicative of
lack of good planning, instability and poor management.
OBJECTIVES

To evaluate how the retention of employees depends on Ease of working in that firm.
The research paper focusses on factors like discipline followed in the organisation and
Unity of Command.

To assess the effect of office Working environment on the employees’ satisfaction and
retention.

To determine whether the Authority and Responsibility assigned to the employees


effect their continuing to work with a particular firm.

To evaluate the Hierarchical system followed in the organisation and its impact on the
employee’s retention in the company.

To overall anticipate the organisation’s retention rate of various divisions – Tech,


Finance and Marketing.
METHODOLOGY
TYPE AND SOURCE OF DATA
Primary data is used for the study. The primary data is collected by using
questionnaire method.

TOOLS AND TECHNIQUES


Tools and techniques involves various statistical tools like Factor Analysis, Cluster Analysis,
Independent samples T test and Correlation, which is used as a device to analyse and interpret the
significant difference in employee retention rates of different departments of the same company.
Factor Analysis : This is used so as to check and remove the problem of multi-collinearity. This test
has been applied to 20 independent variable, which cover all aspects of employee satisfaction, with
the dependent variable, which tells us about the expected retention rate of the employee.
Regression : This test it conducted to find out the factor which explains the maximum variance and
the value by which the dependent variable is affected by the independent variable .
Independent Samples T-test : This test is applied to final series of job satisfaction scores from
different departments to check whether there is any significant difference in the mean value of
employee satisfaction level and therefore in the retention rate.
Correlation : This test is applied to the final series of 3 independent variable of job satisfaction
scores from different departments with the dependent variable i.e expected retention rate to check
how strongly/weekly independent variable is related to the dependent variable, and therefore
checking our hypothesis.
POPULATION
The survey was conducted in three departments of Maruti Suzuki Limited, namely,
Marketing Department, Technical Department and Finance & Accounts (F & A)
Department.
The total number of employees in 3 departments are 150.
Marketing Department : 50
Technical Department : 50
Finance & Accounts Department : 50

SAMPLE
Random sampling was used for the survey. Out of the total 400 employees, 150
employees
were selected as sample. The questionnaires were distributed to the respondents in the
sample.

LIMITATIONS OF THE STUDY


Due to the busy work schedule of the employee chances are there that response to the
questionnaires may be with lack of full concentration.
Insufficient time lead to inadequate focus in all sections.
THEORETICAL FRAMEWORK
Independent variables are those variables whole variation does not depend on that of
others.

Division of work Subordination of interest


Authority and responsibility Remuneration
Discipline Centralization and Decentralization
Unity of command Basic amenities
Unity of direction Job Security
Initiative Team work
Scalar Chain (Equity) Discrimination
Order Growth and development
Equity Flexible working hours

.
In the words of Alfred Marshall “ the most valuable of
all capital is that invested in human beings ”

Emerging business environment is forcing business houses to find new ways to


remain competitive. Organisations face an environment characterised by a
number of challenges and key issues that have increased the importance of
Human Resource Management considerations in business decision-making .

From social point of view, an enterprise combines two sorts of resources: a


group of human beings and a group of physical assets. The latter in isolation of
the former is useless.
Human capital is considered to be the biggest assets of the organization but
also most difficult to handle and manage.
Job satisfaction refers to a person’s feeling of satisfaction on the
job which act as a motivation to work

“A happy employee is a productive employee”

Job satisfaction is a measure of workers' contentedness


with their job, whether or not they like the job or individual
aspects or facets of jobs, such as nature of work or
supervision. Job satisfaction can be measured in cognitive,
affective, and behavioral components
Maruti Suzuki
Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an
automobile manufacturer in India. It is a 56.21% owned subsidiary of the
Japanese car and motorcycle manufacturer Suzuki Motor Corporation. As of
July 2018, it had a market share of 53% of the Indian passenger car
market. The company is headquartered at New Delhi. and sells popular cars
such as the Ciaz, Ertiga, Wagon R, Alto, Swift, Celerio, Swift Dzire, Baleno and
Baleno RS, Omni, Alto 800, Eeco, Ignis, g S-Cross. The company is
headquartered at New Delhi. In May 2015, the company produced its fifteenth
millionth vehicle in India, a Swift Dzire.
the Government of India, through Ministry of Disinvestment, sold its complete
share to Indian financial institutions and no longer has any stake in Maruti
Udyog.

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