Executive Summary Employee retention is a process in which the employees are encouraged to remain with the organization for

the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee. Employees today are different. They are not the ones who dont have good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job they switch over to the next job. !t is the responsibility of the employer to retain their best employees. !f they dont they would be left with no good employees. A good employer should "now how to attract and retain its employees. #ost employees feel that they are worth more than they are actually paid. There is a natural disparity between what people thin" they should be paid and what organizations spend in compensation. $hen the difference becomes too great and another opportunity occurs turnover can result. %ay is defined as the wages salary or compensation given to an employee in exchange for services the employee performs for the organization. %ay is more than &dollars and cents'& it also ac"nowledges the worth and value of the human contribution. $hat people are paid has been shown to have a clear reliable impact on turnover in numerous studies. Employees comprise the most vital assets of the company. !n a wor" place where employees are not able to use their full potential and not heard and valued they are li"ely to leave because of stress and frustration. !n a transparent environment while employees get a sense of achievement and belongingness from a healthy wor" environment the company is benefited with a stronger reliable wor"(force harboring bright new ideas for its growth

!ntroduction Employee turnover is one of the largest though widely un"nown costs an organization faces. $hile companies routinely "eep trac" of various costs such as supplies and payroll few ta"e into consideration how much employee turnover will cost them) Ernst * +oung estimates it costs approximately ,-./ /// to replace -/ professionals. According to research done by Sibson * 0ompany to recoup the cost of losing just one employee a fast food restaurant must sell 1 2-3 combo meals at ,..4/ each. Employee turnover costs companies 3/ to 4/5 of the annual salary of entry(level employees -4/5 of middle(level employees and up to 6//5 for upper level specialized employees. 7ow that so much is being done by organizations to retain its employees why is retention so important8 !s it just to reduce the turnover costs8 $ell the answer is a definite no. !ts not only the cost incurred by a company that emphasizes the need of retaining employees but also the need to retain talented employees from getting poached.

9esume $riting Tips Employee 9etention

9etention involves five major things) : 0ompensation : Environment : ;rowth : 9elationship : Support 0ompensation 0ompensation constitutes the largest part of the employee retention process. The employees always have high expectations regarding their compensation pac"ages. 0ompensation pac"ages vary from industry to industry. So an attractive compensation pac"age plays a critical role in retaining the employees. 0ompensation includes salary and wages bonuses benefits prere<uisites stoc" options bonuses vacations etc. $hile setting up the pac"ages the following components should be "ept in mind) Salary and monthly wage) !t is the biggest component of the compensation pac"age. !t is also the most common factor of comparison among employees. !t includes =asic wage >ouse rent allowance ?earness allowance 0ity compensatory allowance Salary and wages represent the level of s"ill and experience an individual has. Time to time increase in the salaries and wages of employees should be done. And this increase should be based on the employees performance and his contribution to the organization. =onus) =onuses are usually given to the employees at the end of the year or on a festival. Economic benefits) !t includes paid holidays leave travel concession etc.@ong(term incentives) @ong term incentives include stoc" options or stoc" grants. These incentives help retain employees in the organizationAs startup stage. >ealth insurance) >ealth insurance is a great benefit to the employees. !t saves employees money as well as gives them a peace of mind that they have somebody to ta"e care of them in bad times. !t also shows the employee that the organization cares about the employee and its family. After retirement) !t includes payments that an Employee gets after he retires li"e E%B CEmployee %rovident BundD etc. #iscellaneous compensation) !t may include employee assistance programs Cli"e psychological counseling legal assistance etcD discounts on company products use of a company cars etc. Employers And Their Eey ?rivers To Attract And 9etain Talent Employers Eey ?rives To Attract And 9etain Talent %rocter and ;amble !ndia Early responsibilities in career Blexible and transparent organizational culture

;lobal opportunities through a variety of exposure and diverse experiences %erformance 9ecognition American Express C!ndiaD Strong global brand Falue(based environment %ioneer in many people practices 7T%0 @earning and growth opportunities 0ompetitive rewards Gpportunity to grow learn and implement Strong social security and employee welfare performance( oriented culture Hohnson * Hohnson Strong values of trust caring fairness and respect within the organization Breedom to operate at wor" Early responsibility in career Training and learning opportunities Fisible transparent and accessible leaders 0ompetitive rewards !nnovative >9 programs and practices ;laxo Smith Eline 0onsumer >ealthcare %erformance(driven 9ewards !ts belief in I;rowing our own timberJ 0omprehensive development and learning programs Blat organization where performance could lead to very <uic" progression 0hallenging wor" context 0ompetitive rewards Exhaustive induction and orientation program Tata Steel Grganization philosophy and culture Hob stability Breedom to wor" and innovate 0olgate %almolive !ndia 0ompany brand Gpen transparent and caring organization #anagement according to the managing with respect to guiding principles Training ad development programs Structured career planning process ;lobal career opportunities

$ipro 0ompanys brand as an employer Early opportunities for growth >igh degree of autonomy Falue compatibility !nnovative people program !ndian Gil 0orporation 0ompany brand image $or" ethics @earning and growth opportunities 0hallenging wor" assignments ;rowing organization T0S The group brand e<uity Strong corporate governance and citizenship 0ommitment to learning and development =est in people practices 0hallenging assignments Gpportunity to wor" with fortune 4// clients

Grganization Environment !t is not about managing retention. !t is about managing people. !f an organization manages people well employee retention will ta"e care of itself. Grganizations should focus on managing the wor" environment to ma"e better use of the available human assets.%eople want to wor" for an organization which provides : Appreciation for the wor" done : Ample opportunities to grow : A friendly and cooperative environment : A feeling that the organization is second home to the employee Grganization environment includes 0ulture Falues 0ompany reputation Kuality of people in the organization Employee development and career growth 9is" ta"ing @eading technologies Trust

Types of environment the employee needs in an organization @earning environment) !t includes continuous learning and improvement of the individual certifications and provision for higher studies etc. Support environment) Grganization can provide support in the form of wor"(life balance. $or" life balance includes) Blexible hours Telecommuting ?ependent care Alternate wor" schedules Facations $ellness $or" environment) !t includes efficient managers supportive co(wor"ers challenging wor" involvement in decision(ma"ing clarity of wor" and responsibilities and recognition. @ac" or absence of such environment pushes employees to loo" for new opportunities. The environment should be such that the employee feels connected to the organization in every respect. ;rowth and 0areer ;rowth and development are the integral part of every individuals career. !f an employee can not foresee his path of career development in his current organization there are chances that hell leave the organization as soon as he gets an opportunity.The important factors in employee growth that an employee loo"s for himself are)$or" profile) The wor" profile on which the employee is wor"ing should be in sync with his capabilities. The profile should not be too low or too high. %ersonal growth and dreams) Employees responsibilities in the organization should help him achieve his personal goals also. Grganizations can not "eep aside the individual goals of employees and foster organizations goals. Employees priority is to wor" for themselves and later on comes the organization. !f hes not satisfied with his growth hell not be able to contribute in organization growth. Training and development) Employees should be trained and given chance to improve and enhance their s"ills. #any employers fear that if the employees are well rained theyll leave the organization for better jobs. Grganization should not limit the resources on which organizations success depends. These trainings can be given to improve many s"ills li"e) 0ommunications s"ills Technical s"ills !n(house processes and procedures improvement related s"ills 0 or customer satisfaction related s"ills Special project related s"ills 7eed for such trainings can be recognized from individual performance reviews individual meetings employee satisfaction surveys and by being in constant touch with the employees. !mportance of 9elationship in Employee 9etention %rogram

Sometimes the relationship with the management and the peers becomes the reason for an employee to leave the organization. The management is sometimes not able to provide an employee a supportive wor" culture and environment in terms of personal or professional relationships. There are times when an employee starts feeling bitterness towards the management or peers. This bitterness could be due to many reasons. This decreases employees interest and he becomes de(motivated. !t leads to less satisfaction and eventually attrition. A supportive wor" culture helps grow employee professionally and boosts employee satisfaction. To enhance good professional relationships at wor" the management should "eep the following points in mind. 9espect for the individual) 9espect for the individual is the must in the organization. 9elationship with the immediate manager) A manger plays the role of a mentor and a coach. >e designs ands plans wor" for each employee. !t is his duty to involve the employee in the processes of the organization. So an organization should hire managers who can ma"e and maintain good relations with their subordinates. 9elationship with colleagues) %romote team wor" not only among teams but in different departments as well. This will induce competition as well as improve the 9elationship among collegues. 9ecruit whole heartedly) An employee should be recruited if there is a proper place and duties for him to perform. Gtherwise hell feel useless and will be dissatisfied. Employees should "now what the organization expects from them and what their expectation from the organization is. ?eliver what is promised.%romote an employee based culture) The employee should "now that the organization is there to support him at the time of need. Show them that the organization cares and hell show the same for the organization. An employee based culture may include decision ma"ing authority availability of resources open door policy etc. !ndividual development) Ta"ing proper care of employees includes ac"nowledgement to the employees dreams and personal goals. 0reate opportunities for their career growth by providing mentorship programs certifications educational courses etc. !nduce loyalty) Grganizations should be loyal as well as they should promote loyalty in the employees too. Try to ma"e the current employees stay instead of recruiting new ones. Support @ac" of support from management can sometimes serve as a reason for employee retention. Supervisor should support his subordinates in a way so that each one of them is a success. #anagement should try to focus on its employees and support them not only in their difficult times at wor" but also through the times of personal crisis. #anagement can support employees by providing them recognition and appreciation. Employers can also provide valuable feedbac" to employees and ma"e them feel valued to the organization. The feedbac" from supervisor helps the employee to feel more responsible confident and empowered. Top management can also support its employees in their personal crisis by providing personal loans during emergencies childcare services employee assistance

%rograms conseling services etc Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees. Thus employers can support their employees in a number of ways as follows) : =y providing feedbac" : =y giving recognition and rewards : =y counseling them : =y providing emotional support 9ESEA90> #ET>G?G@G;+ 9esearch ?esign The research design indicates the type of research methodology under ta"en to collect the information for the study. The researcher used both descriptive and analytical type of research design for his research study. The main objective of using descriptive research is to describe the state of affairs as it exits at present. !t mainly involves surveys and fact finding en<uiries of different "inds. The researcher used descriptive research to discover the characteristics of customers. ?escriptive research also includes demography characteristic of consumer who use the product. The researcher also used analytical research design to analyze the existing facts from the data collected from the customer. Area of study The area of study is confined to employees of ;E#!7! 0G##L7!0AT!G7 @T? 0hennai. 9esearch instrument The Structured <uestionnaire is used as the research instrument for the study. Kuestionnaire ?esign The <uestionnaire framed for the research study is a structured <uestionnaire in which all the <uestions are predetermined before conducting the survey. The form of <uestion is of both closed and open type. The scales used to evaluate <uestions are) ?ichotomous scale C+es or 7oD @i"ert 4 point scale C>ighly satisfied satisfied 7either Satisfied nor dissatisfied ?issatisfied >ighly dissatisfiedD 0ategory scale C#ultiple itemsD

9an"ing type C9- 9. 93MD The <uestionnaire for the research was framed in a clear manner such that it enables the respondents to understand and answer the <uestion easily. The <uestionnaire was designed in such a way that the <uestions are short and simple and is arranged in a logical manner. %ilot study !t is appropriate to conduct pilot survey to chec" the reliability of the <uestionnaire. So pilot study was conducted on 4 respondents which is a -/5 of the sample. Sampling design A Sample design is a definite plan for obtaining a sample from a given population. !t is the procedure used by the researcher in selecting items for the sample. Sample size Sample sizeN-.4 samples variance and confidence methods are used for determining sample size.

Sampling Techni<ue) The researcher adopted simple random sampling for the study.

?ATA 0G@@E0T!G7 #ET>G? %rimary data %rimary data is the new or fresh data collected from the respondents through structured scheduled <uestionnaire. Secondary data The secondary data are collected through the structured <uestionnaire literature review and also from the past records maintained by the company. STAT!ST!0A@ TGG@S A7? TE0>7!KLES %E90E7TA;E A7A@+S!S) %ercentage N C7o. of respondentsO total no. of respondentsDP-//

$E!;>TE? AFE9A;E #ET>G?) Bormula) #ean score N total scoreOno of respondents. $here total score N no of respondentsPweighted average

0>! Q SKLA9E TEST) -. 7ull >ypothesis C>oD) There is no difference in attributes .. Alternate >ypothesisC>-D) There is a difference in attributes 3. @evel of significance R N /./4 6. ?egrees of freedom N Cr(-DCc(-D 4. Expected fre<uency) E N 9.T S 0.T ;.T 2. 0alculation of ) T N T CG(EDU E 1. The tabulated value of at given level of significance with Cr(-DCc(-D ?egrees of freedom G7E 9L7 TEST 7ull hypothesis C>/D) There is a no significant relationship between the variables Alternate hypothesis C>-D) There is significant relationship between the variables Vr N . n- n. W n- W n.

. n- n.( n-( nXr N . n-n. Cn-W n.D. Cn-W n.(- D @ower limit N Vr W C..4YD X Lpper limit N Vr W C..4YD X

EE7?A@@S 0GEBB!0!E7T GB 0G70G9?A70E)

7ull hypothesis C>/D) There is a difference in attributes Alternate hypothesis C>-D) There is no difference in attributes T 9j N C9j(9jD. SN 9j N T 9j @!#!TAT!G7S GB T>E STL?+ -. The findings of the study are subjected to bias and prejudice of the respondents. .. Area of the study is confined to the employees in 0hennai only. 3. Time factor can be considered as a main limitation. 6. The findings of the study are solely based on the information provided by the respondents. 4. The accuracy of findings is limited by the accuracy of statistical tools used for analysis. 2. Bindings of the research may change due to area demography age condition of economy etc. Analysis and !nterpretation of data %E90E7TA;E A7A+@S!S A$A9E7ESS GB >9 %G@!0!ES

0hi(S<uare Test To find whether there exists a significant relationship between $or" 0ulture of the 0ompany and interpersonal relationship between employees. >/) There is a no significant relationship between $or" 0ulture of the 0ompany and interpersonal relationship between employees. >-) There is a significant relationship between $or" 0ulture of the 0ompany and interpersonal relationship between employees.

0alculated value is more than table value therefore accept >/ 9esult) There is a significant relationship between overall satisfaction and aspects of job. EE7?A@@S 0GEBB!0!E7T GB 0G70G9?A70E 7ull hypothesis C>/D) There is a no significant difference in the ran" assigned by respondents towards the attributes that gives them satisfaction in the company.

Alternate hypothesis C>-D) There is a significant difference in the ran" assigned by respondents towards the attributes that gives them satisfaction in the company.

9an"ing =ased on Satisfaction EN./ Salary Superior 9ole Team 0oordination $or" responsibilities 9ules and %olicies %hysical wor" environment Training 0alculated value ) SN 4Y-4.1-6 Table value ) --4Y 0alculated value is more than table value therefore reject >/

9esult) There is a significant difference in the ran" assigned by respondents towards the attributes that gives them satisfaction in the company.

G7E 9L7 TEST 7ull hypothesis C>/D) The samples are not ta"en randomly. Alternate hypothesis C>-D) The samples are ta"en randomly. Table)..4.E#%@G+EES SAT!SBA0T!G7 9E;A9?!7; #G7ETA9+ =E7EB!TS %9GF!?E? =+ T>E 0G#%A7+. 9etention #anagement Abstract) =ac"ground) retention management is a highly topical subject and an important dilemma many organizations might face in the future if not facing it already. $e believe that the leader plays a "ey role in employee retention and retention management. The concept of

retention management can both have a narrow and a broader significance. =oth parts of its significance are generally included in this thesis. The bac"ground of the thesis present a few articles that discuss issues that ma"es it important for the organization and the leaders to wor" hard with retention management. The research is based on the leaders in the Binnish case company Trade"a. Bollowing "ey <uestions are intended to be answered) $hat are the conse<uences between leaders actions and employees retention8 $hich is the leaders role when it comes to retaining employees8 %urpose statement) The purpose of the thesis is to investigate and analyze how company leaders today can retain their "ey employees. >ow can the provision of "ey human resources develop a long(term relationship that ma"es top employees stay in the company8 The study aims to establish the procedure leaders apply to retain employees. The purpose is to compare the <ualitative study made at the case company with findings from the thesis theoretical framewor". 9esearch method) The study is a <ualitative as well as a theoretical study where empirical findings and theories has been compared. The intention of investigating and using the Binnish company Trade"a @imited as a case company is to ma"e the information from the theories more valid and also the interest in how retention management wor"s in practice. Eleven <ualitative interviews were conducted at Trade"a8s financial department both with supervisors and employees to get a broader view at the phenomenon retention management. 9esult) @eaders and their s"ill in creating a culture of retention has becoming a "ey in why people stay and what usually drives them away from a company. The leader has become the main factor in what motivates peoples decision to stay or leave. Bor organizations to "eep its "ey employees their number one priority should be to loo" at their management because people leave managers and not companies. 0haracteristics in a leader that are of importance as the leader plays a "ey role in retention management is) trust builder esteem builder communicator talent developer and coach and talent finder. The leaders relation to the employees plays a central role in retaining employees because employees need to feel involvement and that their presence count. $hen retention is a core value good things happen for customers employees and the company. Employee 9etention Strategies The basic practices which should be "ept in mind in the employee retention strategies are) -. >ire the right people in the first place. .. Empower the employees) ;ive the employees the authority to get things done. 3. #a"e employees realize that they are the most valuable asset of the organization. 6. >ave faith in them trust and respect them 4. %rovide them information and "nowledge. 2. Eeep providing them feedbac" on their performance. 1. 9ecognize and appreciate their achievements. Y. Eeep their morale high. Z.0reate an environment where the employees want to wor" and have fun. These practices can be categorized in 3 levels) @ow medium and high level. @ow @evel Employee 9etention Strategies Appreciating and recognizing a well done job

%ersonalized well done and than"(you cards from supervisors 0ongratulations e(cards or cards sent to spousesOfamilies Foicemails or messages from top management %eriodic days off for good performance 9ewards C gift certificates monetary and non monetary rewardsD 9ecognizing professional as well as personal significant events $edding gifts Anniversary gifts 7ew born baby gifts Scholarships for employees children ;et well cardsOflowers =irthday cards celebrations and gifts %roviding benefits >ome insurance plans @egal insurance Travel insurance ?isability programs %roviding per"s) !t includes coupons discounts rebates etc ?iscounts in cinema halls museums restaurants etc. 9etail store discounts 0omputer peripherals purchase discounts %roviding wor"place conveniences Gn(site AT# Gn(site facilities for which cost is paid by employees laundry facility for bachelors Shipping services Assistance with tax calculations and submission of forms Binancial planning assistance 0asual dress policies Bacilities for expectant mothers %ar"ing %arenting guide @actation rooms Blexi timings Bun at wor" 0elebrate birthdays anniversaries retirements promotions etc >oliday parties and holiday gift certificates Gccasional parties li"e diwali holi dushera etc

Grganize get together for watching football hoc"ey cric"et matches Grganize picnics and trips for movies etc Sports outings li"e cric"et match etc !ndoor games Gccasional stress relievers I0asual dressJ day I;reen is the colorJ day >andwriting analysis Tatoo mehandi hair braiding stalls on wee"ends #ini cric"et in office !ce cream Bridays >oli(?ay brea"fast Employee support in tough time or personal crisis %ersonal loans for emergencies 0hildcare and eldercare services Employee Assistance %rograms C 0ounseling sessions etcD Emergency childcare services #edium @evel Strategies for Employee 9etention Appreciating and recognizing a well done job Special bonus for successfully completing firm(sponsored certifications =enefit programs for family support 0hild adoption benefits Blexible benefits ?ependents care assistance #edical care reimbursement %roviding conveniences at wor"place ;ymnasiums Athletic membership program %roviding training and development and personal growth opportunities Sabbatical programs %rofessional s"ills development !ndividualized career guidance

>igh @evel Strategies window.google[render[adCD' %romoting $or"O@ife Effectiveness ?evelop flexible schedules %art(time schedules Extended leaves of absence

?evelop Support Services Gn(site day care facility etc. Lnderstand employee needs) This can be done through proper management style and culture @isten to the employee and show interest in ideas Appreciate new ideas and reward ris"(ta"ing Show support for individual initiative Encourage creativity Encouraging professional training and development andOor personal growth opportunities) !t can be done through) #entoring programs %erformance feedbac" programs %rovide necessary tools to the employees to achieve their professional and personal goals ;etting the most out of employee interests and talents >igher study opportunities for employees Focational counseling Gffer personalized career guidance to employees %rovide an environment of trust) 0ommunication is the most important and effective way to develop trust. Suggestion committees can be created Gpen door communication policy can be followed 9egular feedbac"s on organizations goals and activities should be ta"en from the employees by) #anagement communications !ntranet and internet can be used as they provide .6\1 access to the information 7ewsletters notice boards etc. >ire the right people from the beginning) employee retention is not a process that begins at the end. The process of retention begins right from the start of the recruitment process. The new joinees should fit with the organizations culture. The personality leadership characteristics of the candidate should be in sync with the culture of the hiring organization. 9eferral bonus should be given to the employees for successful hires. They are the best source of networ"ing. %roper training should be given to the managers on interview and management techni<ues. An internship program can be followed to recruit the fresh graduates. 9etention Success #antra Transparent $or" 0ulture !n todays fast paced business environments where employees are constantly striving to achieve business goals under time restrictions' open minded and transparent wor" culture plays a vital role in employee retention.0ompanies invest very many hours and monies in training and

educating employees. These companies are severely affected when employees chec" out especially in the middle of some big company project or venture. Although employees most often prefer to stay with the same company and use their time and experience for personal growth and development they leave mainly because of wor" related stress and dissatisfactions.#ore and more companies have now realized the importance of a healthy wor" culture and have a gamut of people management good practices for employees to have that ideal fresh wor"(life. 0losed doors wor" culture can serve as a deterrent to communication and trust within employees which are potential causes for wor"( 9elated apathy and frenzy. A transparent wor" environment can serve as one of the primary triggers to facilitate accountability trust communication responsibility pride and so on. !t is believed that in a transparent wor" culture employees rigorously communicate with their peers and exchange ideas and thoughts before they are finally matured in to full(blown concepts. !t induces responsibility among employees and accountability towards other peers which gradually builds up trust and pride. #ore importantly transparency in wor" environment discourages wor"( politics which often hinders company goals as employees start to advance their personal objectives at the expense of development of The company as a single entity. . Kuality Gf $or" The success of any organization depends on how it attracts recruits motivates and retains its wor"force. Grganizations need to be more flexible so that they develop their talented wor"force and gain their commitment. Thus organizations are re<uired to retain employees by addressing their wor" life issues. The elements that are relevant to an individuals <uality of wor" life include the tas" the physical wor" environment social environment within the organization administrative system and relationship between life on and off the job. The basic objectives of a K$@ program are improved wor"ing conditions for the Employee and increase organizational effectiveness. %roviding <uality wor" life involves ta"ing care of the following aspects)Gccupational health care) The safe wor" environment provides the basis for the person to enjoy wor"ing. The wor" should not pose a health hazard for the person. The employer and employee aware of their ris"s and rights could achieve a lot in Their mutually beneficial dialogue. Suitable wor"ing time) Grganizations are offering flexible wor" options to their employees wherein employees enjoy flexi(timings for dedicating their efforts at wor". Appropriate salary) The appropriate as well as attractive salary has always been an important factor in retaining employees. %roviding employees salary at par with the other counterparts of above that what competitors are paying motivates them to stic" $ith the company for long. K$@ consists of opportunities for active involvement in group wor"ing arrangements or problem solving that are of mutual benefit to employees or employers based on labor management cooperation. %eople

also conceive of K$@ as a set of methods such as autonomous wor" groups job enrichment and high(involvement aimed at boosting the satisfaction and productivity of wor"ers. !t re<uires employee commitment to the organization and an environment in which this commitment can flourish. %roviding <uality at wor" not only reduces attrition but also helps in reduced absenteeism and improved job satisfaction. 7ot only does K$@ contribute to a companyAs ability to recruit <uality people but also it enhances a companyAs competitiveness. 0ommon beliefs support the contention that K$@ will positively nurture amore flexible loyal and motivated wor"force which are essential in determining the companyAs competitiveness. Supporting Employees Grganizations these days want to protect their biggest and most valuable asset and they want to do this in a way that best suits their organizational culture. 9etaining employees is a difficult tas". %roviding support to the employees acts as a mantra for retraining them. Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees. The management can support employees directly or indirectly. ?irectly they provide support in terms of personal crises managing stress and personal development. #anagement can support employees indirectly in a number of ways as follows) #anage employee turnover) Employee turnover affects the whole organization in terms of productivity. #anaging the turnover hence becomes an important tas". A proactive approach can be adopted to reduce attrition. Strategies should be framed in advance and implemented when the times arrives. Turnover costs should also be ta"en into consideration while framing these strategies. =ecome employer of choice) $hat ma"es a company an employer of choice8 !s the benefit it offers or the compensation pac"ages it gives away to its employees8 Gr is it measured in terms of how they value their employees or in terms of customer satisfaction8 =ecoming an employer of choice involves following a road map which tells where to go as a brand. Engage the new recruits) The newly hired employees are said to be least engaged in the organization. Eeeping them engaged is an important tas". The fresh talent should be utilized to maximum before they start feeling bored in the organization. Gptimize employee engagement) An organizations productivity is measured not in terms of employee satisfaction but by employee engagement. Employees are said to be engaged when they show a positive attitude toward the organization and express a commitment to remain with the organization. Employee satisfaction also comes with high engagement levels. So organizations should aim to maximize the engagement among employees. 0oaching and mentoring) Employees whose wor" performance suffers due to poor interpersonal relationships or because of lac" of interpersonal s"ills should be provided proper coaching by

their superiors. %laned coaching sessions help an individual to wor" through issues maximize his potential and return to pea" performance. Beedbac" Beedbac" acts as a channel of communication between the employee and his manager. The amount of information employees receive about how well or how poorly they have performed is what we call feedbac". !t is a dialog between a manager and an employee which acts as a way of sharing information about the performance. !t suggests where the employee performance is effective and where performance has to improve.#anagers can provide either positive feedbac" or negative feedbac" to employees. This feedbac" helps the employee assess his performance and identify the improvement areas.%ositive feedbac" communicates managerial satisfaction. %ositive recognition for good performance boosts up morale of employees and results in performance improvement to a higher productivity level. !t is believed that positive feedbac" is the only type of feedbac" that generates performance above the minimum acceptable level. 7egative feedbac" obviously communicates managers dissatisfaction. >owever negative feedbac" sometimes ma"e employee to put more efforts to improve his performance. =ut such times are very rare. #oreover this improvement is short term. Some managers do not provide any "ind of feedbac" to their employees. ?ue to no feedbac" employees may assume that they are performing productively or they may feel that the manager is satisfied with their performance. Studies reveal the performance tends be same or even decreases if no feedbac" is provided.Thus feedbac" is necessary because) !t builds trust and enhances communication between manager and employee. !t gives managers and employees a way to identify and discuss s"ills and strengths. %ositive feedbac" leads to employee retention and 9etention. !t helps in identifying performance areas that need improvement and specific ways to improve them. !t acts as an opportunity to enhance performance by identifying resources for s"ill development. !t is an opportunity for managers and employees to assess and identify career and advancement opportunities. !t helps employees to understand the effectiveness of their performance and contributes to their overall "nowledge about the wor" #anagers have tendency to ignore good performances of their employees. %roviding no feedbac" may demotivate employees and may lead to employee absenteeism. !nput from managers side is necessary as it help employees to improve their performance and increase productivity. 0ommunication =etween Employee and Employer 0ommunication is a process in which a message is conveyed to the receiver by the sender. The message may be or may not be in a common format or language that both the sender and receiver understand. So there is a need to encode and decode the message in the process. Encoding and decoding also helps in the security of the message. The process of communication is incomplete without the feedbac". 0ommunication is the solution to almost everything in this world. Same applies to employee retention also.

Straight(from(the(shoulder communication is what the employees need from their employers. Employees loo" for organizations where communication and process are transparent. 7othing is hidden and shared with the employees. There are 3 categories of employees) A) $ho will leave their current employer in 3 years of their employment =) $ho have a probability of leaving their current employer in next 3 years 0) $ho will stay with their current employer in the next 3 years 0ategory A) These are the employees who lac" communication with their employers.0ategory 0) These are the employees who have proper well structured communication with their employers.0ommunication is also the way to win the employees trust in the organization. Employees trust the employers who are friendly and open to them. This trust leads to employee loyalty and finally retention. Employers also feel that the immediate supervisors are the most authenticated and trusted source of information for them. So the organizations should hire managers who are active communicators.0ommunication mediums Gpen door policy) Grganizations should support open door policies so that the employees feel comfortable and are able to express their doubts and feeling to their employers. Bre<uent meetings and Social gatherings Emails 7ewsletters !ntranet and many more So there should be effective communication across the organization and this communication should be two(way. 0ommunication alone can lead to unimaginable heights of employee retention. !mportance Gf Employee 9etention The process of employee retention will benefit an organization in the following ways)-. The 0ost of Turnover) The cost of employee turnover adds hundreds of thousands of money to a companyAs expenses. $hile it is difficult to fully calculate the cost of turnover Cincluding hiring costs training costs and productivity lossD industry experts often <uote .45 of the average employee salary as a conservative estimate. @oss of 0ompany Enowledge) $hen an employee leaves he ta"es with him valuable "nowledge about the company customers current projects and past history Csometimes to competitorsD. Gften much time and money has been spent on the employee in expectation of a future return. $hen the employee leaves the investment is not realized. !nterruption of 0ustomer Service) 0ustomers and clients do business with a company in part because of the people. 9elationships are developed that encourage continued sponsorship of the business. $hen an employee leaves the relationships that employee built for the company are severed which could lead to potential customer loss. Turnover leads to more turnovers) $hen an employee terminates the effect is felt throughout the organization. 0o(wor"ers are often re<uired to pic" up the slac". The unspo"en negativity often intensifies for the remaining staff.

;oodwill of the company) The goodwill of a company is maintained when the attrition rates are low. >igher retention rates motivate potential employees to join the organization. 9egaining efficiency) !f an employee resigns then good amount of time is lost in hiring a new employee and then training himOher and this goes to the loss of the company directly which many a times goes unnoticed. And even after this you cannot assure us of the same efficiency from the new employee $hat #a"es Employee @eave8 Employees do not leave an organization without any significant reason. There are certain circumstances that lead to their leaving the organization. The most common reasons can be) Hob is not what the employee expected to be) Sometimes the job responsibilities dont come out to be same as expected by the candidates. Lnexpected job responsibilities lead to job dissatisfaction. Hob and person mismatch) A candidate may be fit to do a certain type of job which matches his personality. !f he is given a job which mismatches his personality then he wont be able to perform it well and will try to find out reasons to leave the job. 7o growth opportunities) 7o or less learning and growth opportunities in the current job will ma"e candidates job and career stagnant. @ac" of appreciation) !f the wor" is not appreciated by the supervisor the employee feels de( motivated and loses interest in job. @ac" of trust and support in cowor"ers seniors and management) Trust is the most important factor that is re<uired for an individual to stay in the job. 7on(supportive cowor"ers seniors and management can ma"e office environment unfriendly and difficult to wor" in. Stress from overwor" and wor" life imbalance) Hob stress can lead to wor" life imbalance which ultimately many times lead to employee leaving the organization. 0ompensation) =etter compensation pac"ages being offered by other companies may attract employees towards themselves. 7ew job offer) An attractive job offer which an employee thin"s is good for him with respect to job responsibility compensation growth and learning etc. can lead an employee to leave the organization. #anaging Employee 9etention The tas" of managing employees can be understood as a three stage process) -. !dentify cost of employee turnover. ..Lnderstand why employee leave. 3.!mplement retention strategies The organizations should start with identifying the employee turnover rates within a particular time period and benchmar" it with the competitor organizations. This will help in assessing the

whether the employee retention rates are healthy in the company. Secondly the cost of employee turnover can be calculated. According to a survey on an average attrition costs companies -Y months salary for each manager or professional who leaves and 2 months pay for each hourly employee who leaves. This amounts to major organizational and financial stress considering that one out of every three employees plans to leave his or her job in the next two years. Lnderstand why employees leave ) $hy employees leave often puzzles top management. Exit interviews are an ideal way of recording and analyzing the factors that have led employees to leave the organization. They allow an organization to understand the reasons for leaving and underlying issues. >owever employees never provide appropriate response to the as"ed <uestions. So an impartial person should be appointed with whom the employees feel comfortable in expressing their opinions.

!mplement retention strategy ) Gnce the causes of attrition are found a strategy is to be implemented so as to reduce employee turnover. The most effective strategy is to adopt a holistic approach to dealing with attrition. An effective retention strategy will see" to ensure) Attraction and recruitment strategies enable selection of the ]right candidate for each roleOorganization 7ew employees initial experiences of the organization are positive Appropriate development opportunities are available to employees and that they are "ept aware of their li"ely career path with the organization The organizations reward strategy reflects the employee drivers >ow To !ncrease Employee 9etention 0ompanies have now realized the importance of retaining their <uality wor"force. 9etaining <uality performers contributes to productivity of the organization and increases morale among employeesO Bour basic factors that play an important role in increasing employee retention include salary and remuneration providing recognition benefits and opportunities for individual growth. =ut are they really positively contributing to the retention rates of a company8 =asic salary these days hardly reduces turnover. Today employees loo" beyond the money factor.

9etention =onus >igher attrition rates within a particular industry have forced companies to use some innovative strategies to retain employees. 9etention =onus is one of the important tools that are being used to retain employees. 9etention bonus is an incentive paid to an employee to retain them through a critical business cycle. 9etention bonuses are becoming more common in the

corporate world because companies are going through more transitions li"e mergers and ac<uisitions. They need to give "ey people an attractive incentive to stay on through these transitions to ensure productivity. 9etention bonuses have proven to be a useful tool in persuading employees to stay.A retention bonus plan is not a panacea. According to a survey non(management employees generally receive about -/ percent of their annual salaries in bonuses while management and top(level supervisors earn an additional 4/ percent of their annual salaries. $hile bonuses based on salary percentages are the generally used some companies choose to pay a flat figure. !n some companies bonuses range from .4 percent to 4/ percent of annual salary depending on position tenure and other factors. Employees are chosen for retention bonuses based on their contributions to management and the generation of revenue. 9etention bonuses are generally vary from position to position and are paid in one lump sum at the time of termination. >owever some companies pay in installments as on when the business cycle completes. A retention period can run somewhere between six months to three years. !t can also run for a particular project. A project has its own life span. As long as the project gets completed the employees who have wor"ed hard on it are entitled to receive the retention bonus. Bor example the implementation of a system may ta"e -Y months so a retention bonus will be offered after ./ months. Although retention bonuses are becoming more common everywhere some industries are more li"ely than others to offer them. 9etailOwholesale companies are the most appropriate to implement stay(pay bonuses followed by financial service providers and manufacturing firms. 0ompanies of all sizes use retention bonus plans to "eep "nowledge employees retained in the company. To retain its "ey senior employees post merger with E?S 0orporation #phasis is providing cash component based retention bonus plan for its employees. This is mainly to retain good employees and provide them a cash incentive to "eep them motivated. >ire 9ight Talent employee retention starts with recruitment. Early departures arise from the wrong recruitment process. >ere are a few ways to ensure how to hire the right talent for a particular job. >ire appropriate candidates. >ire candidates who are actually suitable for the job. Bor this the employer should understand the job re<uirements clearly. ?ont hire under <ualified or clearly over<ualified candidates. %rovide realistic job preview at the time of hiring) #ostly employees leave an Grganization because they are given the real picture of their job responsibilities at the time of joining. Attrition rate can be reduced if a right person is hired for a right job.9ealistic preview of the job responsibilities can be given to the employment see"ers by various methods li"e discussions trial periods internships etc. 0learly discuss what is expected from the employee) =efore joining the organization tell the candidate what is expected from him. Setting wrong expectations or hiding expectations will result in early leaving of employees. ?iscuss what the expectations of the employees are) As" employees what they expect from the organization. =e realistic. !f their re<uirements can be fulfilled only then promise them. Gr

tell them before hand that their re<uirements can not be fulfilled. ?ont show them an unrealistic picture. 0ulture fit) Try to judge individuals capability to adapt to the organizations culture. A drastic change in the culture may give a culture shoc" to the candidate. 9eferrals) According to the research referred candidates stay longer with the organization. There is a fear of hampering the image and reputation of the person who referred the candidate. #anager 9ole in 9etention $hen as"ed about why employees leave low salary comes out to be a common excuse. >owever research has shown that people join companies but leave because of what their managers do or dont do. !t is seen that managers who respect and value employees competency pay attention to their aspirations assure challenging wor" value the <uality of wor" life and provided chances for learning have loyal and engaged employees. Therefore managers and team leaders play an active and vital role in employee retention. #anagers and team leaders can reduce the attrition levels considerably by creating a motivating team culture and improving the relationships with team members. This can be done in a following way) 0reating a #otivating Environment) Team leaders who create motivating environments are li"ely to "eep their team members together for a longer period of time. 9etention does not necessarily have to come through fun events such as parties celebrations team outings etc. They can also come through serious events e.g. arranging a tal" by the F% of Kuality on career opportunities in the field of <uality. Employees who loo" forward to these events and are li"ely to remain more engaged. Standing up for the Team) Team leaders are closest to their team members. $hile they need to ensure smooth functioning of their teams by implementing management decisions they also need to educate their managers about the realities on the ground. $hen agents see the team leader standing up for them they will have one more reason to stay in the team. %roviding coaching) Everyone wants to be successful in his or her current job. >owever not everyone "nows how. Therefore one of the "ey responsibilities will be providing coaching that is intended to improve the performance of employees. #anagers often tend to escape this role by just coaching their employees. >owever coaching is followed by monitoring performance and providing feedbac" on the same. ?elegation) #any team leaders and managers feel that they are the only people who can do a particular tas" or job. Therefore they do not delegate their jobs as much as they should. ?elegation is a great way to develop competencies. Extra 9esponsibility) ;iving extra responsibility to employees is another way to get them engaged with the company. >owever just giving the extra responsibility does not help. The manager must spend good time teaching the employees of how to manage responsibilities given to them so that they dont feel over burdened. Bocus on future career) Employees are always concerned about their future career. A manager

should focus on showing employees his career ladder. !f an employee sees that his current job offers a path towards their future career aspirations then they are li"ely to stay longer in the company. Therefore managers should play the role of career counselors as well. >ow to !mprove Employee 9etention %eople want to enjoy their wor" so ma"e wor" fun and enjoyable. Lnderstand that employees need to balance life and wor" so offer flexible starting times and core hours. %rovide 32/ feedbac" surveys and other <uestionnaires to foster open communication. 0onsider allowing anonymous surveys occasionally so employees will be more honest and candid with their opinions. %rovide opportunities within the company for career progression and cross(training. Gffer attractive competitive benefits and 6/-C"Ds.

window.google[render[adCD' Grganizations should target job applications for employees who have characteristics that fit well with the organizational culture. Lpon conducting an interview see" out traits such as loyalty. Also as" the potential employee what motivates them on the job. >aving more information about the potential employees expectations can help retain them should they get hired into the company. 9ewards and 9ecognition Employees want to be recognized for a job well done. 9ewards and recognition respond to this need by validating performance and motivating employees toward continuous improvement. 9ewarding and recognizing people for performance not only affects the person being recognized but others in the organization as well. Through a rewards program the entire organization can experience the commitment to excellence. $hen the reward system is credible rewards are meaningful' however if the reward system is bro"en the opposite effect will occur. Employees may feel that their performance is unrecognized and not valued or that others in the organization are rewarded for the wrong behaviors. Lnrecognized and nonvalued performance can contribute to turnover. 9ecognition for a job well done fills the employeesA need to receive positive honest feedbac" for their efforts. 7eed for 9ewards and 9ecognition 9ecognition should be part of the organizationAs culture because it contributes to both employee satisfaction and retention. Grganizations can avoid employee turnover by rewarding top performers. 9ewards are one of the "eys to avoiding turnover especially if they are immediate appropriate and personal. A >arvard Lniversity study concluded that organizations can avoid the disruption caused by employee turnover by avoiding hiring mista"es and selecting and retaining top performers. Gne of the "eys to avoiding turnover is to ma"e rewards count. 9ewards are to be immediate appropriate and personal. Grganizations may want to evaluate whether getting a bonus at the end of the year is more or less rewarding than getting smaller more fre<uent payouts.

Additionally a personal note may mean more than a generic company award. Employees should be as"ed for input on their most desirable form of recognition. Lse what employees say when it comes time to reward for performance CSt. Amour .///D. ?esigning a 9ewards and and 9ecognition Solution !n designing a rewards and recognition program the following guidelines should be considered. 9ewards should be visible to all members of the organization. 9ewards should be based on well(defined credible standards that have been developed using observable achievements. 9ewards should have meaning and value for the recipient. 9ewards can be based on an event Cachieving a designated goalD or based on a time frame Cperforming well over a specific time periodD. 9ewards that are spontaneous Csometimes called on(the(spot awardsD are also highly motivating and should also use a set criteria and standard to maintain credibility and meaning. 9ewards should be achievable and not out of reach by employees. 7onmonetary rewards if used should be valued by the individual. Bor example an avid camper might be given a -/(day pass to a campsite or if an individual enjoys physical activity that employee might be given a spa membership. The nonmonetary rewards are best received when they are thoughtfully prepared and of highest <uality. %rofessionalism in presenting the reward is also interpreted as worthwhile recognition. 9ewards should be appropriate to the level of accomplishment received. A cash award of ,4/ would be inappropriate for someone who just recommended a process that saved the organization a million dollars. ?etermining the amount of money given is a delicate matter of organizational debate in which organizational history financial parameters and desired results are all factors. 9ecognition for a job well done can be just as valued and appreciated as monetary awards. Bormal recognition program can be used with success. Birst ?ata 9esources a data processing services company that employees more than 2 /// individuals in Gmaha 7ebras"a uses a formal recognition program CAdams #ahaffey and 9ic" .//.D. 9ewards are given on a monthly <uarterly and yearly basis and range from 7ebras"a football tic"ets gift certificates pens pla<ues mugs and other items. Gne of the most popular awards at Birst ?ata is called the &Bat 0at Award& that consists of) ,4// gift chec" %rofessional portrait of the employee Appreciation letter from the 0EG and senior management E(mails phone calls and notes from peers !n addition to nonmonetary rewards employees can be rewarded using money in numerous ways. 0ash is a welcome motivator and reward for improving performance whether at formal meetings or on the spot. Fariable bonuses lin"ed to performance are another popular reward strategy. %rofit sharing and pay(for(s"ilis are monetary bonus plans that both motivate individuals and improve goal achievement. Small acts of recognition are valuable for employee

daily 9etention. Sometimes a personal note may mean more than a generic company award. !n one survey employees cited the following as meaningful rewards C#oss .///D) Employee of the month awards +ears of service awards =onus pay Cabove and beyond overtimeD for wee"end wor" !nvitations for technicians to technical shows and other industry events #eaningful and 9etentional 9ewards $hat gives meaning to rewards and recognition8 $hat ma"es them effective8 Birst rewards and recognition should be based on a clear set of standards with performance verifiable or observable. The standards for the reward should also be achievable. !f the reward is based on an unachievable result such as a production goal that is beyond employeesA power then those employees will not be motivated. #eaningful rewards and recognition that are achievable have the greatest impact. 0ase Studies Employee 9etention =est %ractices in Eeeping and #otivating Employees =y @is=eth 0laus As" any 0EG of an organization I$hat "eeps you awa"e at night8J and you will get a response that relates to people management issues. a main concern for any organization Cwhether small or large' private public or nonprofitD is its capacity to attract engage and retain the right people. The problem of retention is compounded by the predicted talent shortage resulting from the upcoming retirement of the baby boomers the scarcity of talent with relevant wor" s"ills for todays jobs the changing values about wor" and the high cost of turnover. 9esearch and human resource practices provide us with a number of recommendations to increase employee retention. >ow Auditing 0ompany \ $or"s with 9etaining Faluable Employees ) Swedish 0ase study Lniversity essay from >^gs"olan i H^n"^pingO!>> E## CEntrepreneurs"ap #ar"nadsf^ring #anagementD Author) Hosip =ogic' Elina Armanto' #aja 0assel' _.//Y` Abstract) Today neither employees nor employers seem to ta"e for granted that a person will stay with the same firm until retirement. +et "eeping employees for longer periods is an imp( ortant challenge for firms. Gne industry where retention is interesting is the auditing industry in Sweden this because certain re<uirements are needed to become an auditor. Birstly the employee needs to have a Swedish university degree including specific courses within au( ditingOaccounting. Burthermore the person needs practical experience for a specific period of time. ?ue to these statements the challenge of retaining and motivating valuable em(ployees is crucial for the auditing firms which is why we have chosen to do a case study at Auditing 0ompany \ to see how they wor" with employee retention. $e have compared the findings to our chosen theory which consist of four categories) the hiring process in(ternal labor mar"et and career motivation and performance and finally culture and leader(ship. These four

categories are initially based on @eigh =ranham8s boo") 8Eeeping the people who "eep you in business) .6 ways to hang on to your most valuable talent8 C=ran(ham .//-D.!n our conducted case study at Auditing 0ompany \ we have been able to conclude that the firms retention practices are to a great extend in line with the theoretical framewor". There are some areas that need further attention from the company such as an individua(lized reward system and communication between managers and employees. Even though there are some parts to wor" on the most important aspects of retention such as having a holistic and long(term orientation Auditing 0ompany \ seems to have incorporated this into their practices successfully. 9etention) An explanatory study of Swedish employees in the financial sector regarding leadership style remuneration and elements towards job satisfaction Lniversity essay from Faxj^ universitetOE"onomih^gs"olan Author) Sanna %aulsson' @inda @indgren' _.//Y` Abstract) !ntroduction) 0ompanies today are forced to function in a world full of change and complexity and it is more important than ever to have the right employees in order to survive the surrounding competition. !t is a fact that a too high turnover rate affects companies in a negative way and retention strategies should therefore be high on the agenda. $hen loo"ing at this problem area we found that there may be actions and tools that companies could use to come to terms with this problem. 9esearch told us that leadership remuneration and elements li"e participation feedbac" autonomy fairness responsibility development and wor"( atmosphere is important for job satisfaction and retention. Gbject) The main objective is to increase the understanding regarding employees retention in relation to leadership style remuneration and elements such as participation feedbac" autonomy fairness responsibility development and wor"(atmosphere in the Swedish financial Sector. #ethod) $e wanted to investigate how employee of the Swedish financial sector prefers to be retained and how they consider and react to the chosen areas. The survey has a <uantitative approach with a web based <uestionnaire and includes -.Z respondents from ban"s insurance and finance companies. The theoretical framewor" includes leadership and leadership style financial as well as non(financial remuneration and research done in later years regarding participation feedbac" autonomy fairness responsibility development and wor"(atmosphere connected to retention. 0onclusion) The result shows that regarding leadership the respondents prefer leadership based on relations were they feel appreciation. =oth appreciations from the closest manager as well as the company management influences employee job satisfaction in a positive way. #ore money was the most common reason for wanting to change jobs and when as"ing how the remuneration system should be designed base pay with additional bonus and benefits were preferred. =ut also non financial factors such as participation feedbac" autonomy fairness responsibility development and wor"(atmosphere must be ta"en in consideration to satisfy since they seem to increase employees8 $illingness to stay in the company. $hat leaders can do to "eep their "ey employees ( 9etention #anagement Lniversity essay from ;^teborgs universitetOB^retagse"onomis"a institutionen Author) @isa >edberg' #aria >elnius' _.//1(/Z(/3T/Y)..)3-b` Abstract) =ac"ground) retention management is a highly topical subject and an important dilemma many organizations might face in the future if not facing it already. $e believe that the leader plays a "ey role in employee retention and retention management. The concept of

retention management can both have a narrow and a broader significance. =oth parts of its significance are generally included in this thesis. The bac"ground of the thesis present a few articles that discuss issues that ma"es it important for the organization and the leaders to wor" hard with retention management. The research is based on the leaders in the Binnish case company Trade"a. Bollowing "ey <uestions are intended to be answered) $hat are the conse<uences between leaders actions and employees retention8 $hich is the leaders role when it comes to retaining employees8 %urpose statement) The purpose of the thesis is to investigate and analyze how company leaders today can retain their "ey employees. >ow can the provision of "ey human resources develop a long(term relationship that ma"es top employees stay in the company8 The study aims to establish the procedure leaders apply to retain employees. The purpose is to compare the <ualitative study made at the case company with findings from the thesis theoretical framewor". 9esearch method) The study is a <ualitative as well as a theoretical study where empirical findings and theories has been compared. The intention of investigating and using the Binnish company Trade"a @imited as a case company is to ma"e the information from the theories more valid and also the interest in how retention management wor"s in practice. Eleven <ualitative interviews were conducted at Trade"a8s financial department both with supervisors and employees to get a broader view at the phenomenon retention management. 9esult) @eaders and their s"ill in creating a culture of retention has becoming a "ey in why people stay and what usually drives them away from a company. The leader has become the main factor in what motivates peoples decision to stay or leave. Bor organizations to "eep its "ey employees their number one priority should be to loo" at their management because people leave managers and not companies. 0haracteristics in a leader that are of importance as the leader plays a "ey role in retention management is) trust builder esteem builder communicator talent developer and coach and talent finder. The leaders relation to the employees plays a central role in retaining employees because employees need to feel involvement and that their presence count. $hen retention is a core value good things happen for customers employees and the company. B!7?!7;S c !t is found out that 6/5 of respondents are aware of >9 %olicies and 2/ 5 of respondents are not aware of >9 %olicies. c !t is found out that 125 of respondents are getting right amount of accurate information at right time and .65 of respondents are not getting right amount of accurate information at right time. c !t is found out that Y.5 of respondents are able to meet superiors expectation and -Y5 respondents are not able to meet superiors expectation. c !t is found out that 415 of respondents feels that there pay is on par with compare to employees handling similar responsibilities and 3Z5 of respondents feels that there pay is less with compare to employees handling similar responsibilities. c !t is found out that 1/5 of respondents are satisfied with hygiene and cleanliness of company infrastructure and 3/5 of respondents are not satisfied with hygiene and cleanliness of company infrastructure. c !t is found out that 6/5 of respondents are satisfied with Availability of system storage

facilities of company and 2/5 of respondents are not satisfied with Availability of system storage facilities of company. c !t is found out that 1Y5 of respondents s"ills are recognized by superiors and ..5 of respondents s"ills are not recognized by superiors. c !t is found out that 165 of respondents feel that superiors are ta"ing efforts to motivate them and .25 of respondents feel that superiors are not ta"ing efforts to motivate them. c !t is found out that Y35 of respondents feel that wor"load is manageable and -/5 of respondents feel that wor"load is very hard to manage. c !t is found out that 445 of respondents feels that the field wor"er are able to get updates on internal activities and 645 of respondents feels that the field wor"er are not able to get updates on internal activities. c !t is found out that YZ5 of respondents feel that the superiors are easily accessible and --5 of respondents feel that the superiors are not easily accessible. c !t is found out that 4-5 of respondents feel that their complaints are resolved <uic"ly and 6Z5 of respondents feel that their complaints are not resolved <uic"ly. c Brom weighted Average analysis it is found that most of the respondents are satisfied with the wor"ing hours of the organization c Brom weighted Average analysis it is found that roles * responsibilities are clearly defined by the 9eporting heads. c Brom weighted Average analysis it is found that employees feel that their superiorAs commitment towards job is good. c Brom weighted Average analysis it is found that respondents feel that training and orientation programs are neither good nor bad. c Brom weighted Average analysis it is found that most of the respondents are satisfied with job. c Brom chi(s<uare it is found that there is a significant relationship between $or" 0ulture of the 0ompany and interpersonal relationship between employees. c Brom chi(s<uare it is found that there is a no significant relationship between overall satisfaction and 0ommitment towards 0ompany. c Brom chi(s<uare it is found that there is a significant relationship between overall satisfaction and aspects of job. c Brom Eendalls coefficient of concordance it is found that there is a significant difference in the ran" assigned by respondents towards the attributes that gives them satisfaction in the company. c Brom Gne 9un Test it is found that the samples are ta"en randomly. SL;;EST!G7S Employee should be provided with proper training. Employee should be appreciated for good wor". Employee should be motivated to welcome the change. !f any changes are brought in to software or any module is added then proper training should be given. 0onclusion

9etention is an important concept that has been receiving considerable attention from academicians researchers and practicing >9 managers. !n its essence 9etention comprises important elements such as the need or content search and choice of strategies goal(directed behavior social comparison of rewards reinforcement and performance(satisfaction. The increasing attention paid towards 9etention is justified because of several reasons. #otivated employees come out with new ways of doing jobs. They are <uality oriented. They are more productive. Any technology needs motivated employees to adopt it successfully. Several approaches to 9etention are available. Early theories are too simplistic in their approach towards 9etention. Bor example advocates of scientific #anagement believe that money is the motivating factor. The >uman 9elations #ovement posits that social contacts will motivate wor"ers. #ere "nowledge about the theories of 9etention will not help manager their subordinates. They need to have certain techni<ues that help them change the behavior of employees.Gne such techni<ue is reward. 9eward particularly money is a motivator according to need(based and process theories of 9etention. Bor the behavioral scientists however money is not important as a motivator. $hatever may be the arguments it can be stated that money can influence some people in certain circumstance. =eing an outgrowth of >erzbergs two factor theory of 9etention job enrichment is considered to be a powerful motivator. An enriched job has added responsibilities. The ma"es the job interesting and rewarding. Hob enlargement refers to adding a few more tas" elements horizontally. Tas" variety helps motivate job holders. Hob rotation involves shifting an incumbent from one job to another. 9ecommendations -. ?evelop an attractive employee value proposition. An employee value proposition means that your company has something attractive to offer that is perceived as valuable to an employee. as an employer you must understand what ma"es your organization attractive to potential recruits and current employees. =randing yourself as an employer of choice is not just a slic" set of mar"eting tactics. The best advocates for an employers brand are its current employees. $hat messages do they send to others about their employer8 Are they honestly saying and believing that IThis is a great place to wor".J .. 0reate a total reward structure that includes more than compensation. Every company should have all the normal compensation mechanisms common to their type of employment. yet total rewards pac"ages go far beyond money. $hile money might temporarily retain employees it does not always e<uate with engagement. %eople want a chance to ma"e a difference and realize themselves. That self(realization is multi(dimensional and different for each employee. The total reward structure should include in addition to compensation support for employees to attain their personal objectives aligned with the goals of their organization. 3. ;ive feedbac" on employee performance on a regular basis. #ost managers and employees are not enamored with the performance appraisal process in

their organization. yet an effective performance management process serves many purposes. Gngoing performance feedbac" allows employees to better "now where they stand gives them a formal means to provide input indicates that their managers pay attention to them and that their performance matters. This feedbac" contributes to employee engagement and retention. 6. =e flexible in terms of wor"(life balance. $or"ers more and more value a balance between wor" and life. They want more flexible ways to engage with their employer. To attract and retain wor"ers with different wor" and career expectations organizations have to be more flexible in structuring wor" and its expectations. !t calls for a different managerial mindset and practices that involve letting go of old ways of controlling wor"ers time and attendance in favor of result criteria such as output productivity and <uality. 4. 0reate a culture of engagement. Employees have become more connected with others in the organization Cand the broader supply(and(customer chainD through project(based team wor" and process management activities. Employees are shifting their loyalty to people teams and projects and away from company loyalty. !t is organizations that create the culture and climate that allow people processes and projects to become fully connected and engaged with one another. Engaged employees are more li"ely to stay with their employer. 2. Train managers to be effective. Exit interviews consistently show that Ipoor and badJ management practices greatly contribute to an employees decision to leave a company. !t is imperative to provide supervisors and managers with ade<uate tools to become effective managers since we cannot assume that these competencies are innate. %rofessor %atric" 0onnor recently retired after teaching .4 years at the at"inson ;raduate school of #anagement is famous among #=A students and alumni for his ]0onnorisms.>e told them Iyour employees do not wor" for you they wor" for themselves.J $hen ! teach my students about managing organizations ! have them reflect on what really matters to employees and what they are constantly as"ing of their managers and their organizations. !n the end what employees expect of their managers is fairly simple) 0an ! trust you8 are you committed to excellence8 ?o you care about me8 $hat people constantly as" of their organization is) ?o you tell the truth8 ?o you "eep promises8 ?o you act fairly8 ?o you respect me8 #anagers and organizations that "eep these <uestions in mind will have a competitive advantage over others in retaining their employees. =!=@!G;9A%>+ =GGES c >uman 9esource #anagement 0.=.#emoria c 9esearch methodology 0.9.Eothari c Hournals 7ewspaper and !nternet