EFFECT

Effects of Socio-Economic Factors on Turnover Rate and
Retention Policy of Telecom Sector in Pakistan
By
Baber Sultan
CIIT/FA-14-RPM-242/CVC
MS Thesis in
Master of Science in Project Management
COMSATS Institute of Information Technology Virtual Campus
Fall, 2014
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COMSATS Institute of Information Technology

A Thesis Presented to
COMSATS Institute of Information Technology Islamabad
In partial fulfillment
of the requirement for the degree of
MS in Project Management
By
Baber Sultan
Fall, 2014
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A Post Graduate Thesis submitted to the Department of Management Sciences as partial
fulfillment of the requirement for the award of Degree of M.S in Project Management
Name
Registration Number
Babar Sultan
Supervisor
Dr. M. Imran Malik
Professor, Management Sciences Department
Attock Campus
April, 2016
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Final Approval
This thesis titled
Effects of Socio-Economic Factors on Turnover Rate and Retention Policy of

Telecom Sector in Pakistan
By
Babar Sultan
CIIT/FA-14-RPM-242/ CVC
Has been approved
For the COMSATS Institute of Information Technology Virtual Campus
External Examiner: ________________________________
Dr..
Supervisor:
Dr. M. Imran Malik
HoD : _______________________________________________
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DECLARATION
I, Babar Sultan, CIIT/FA-14-RPM-242/CVC, hereby declare that I have produced the work
presented in this thesis, during the scheduled period of study. I also declare that I have not taken
any material from any source except referred to wherever due that amount of plagiarism is within
acceptable range. If a violation of HEC rules on research has occurred in this thesis, I shall be
liable to punishable action under the plagiarism rules of the HEC.
Date: 28 April 2016
_______________________
Babar Sultan
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CERTIFICATE
It is certified that Babar Sultan, CIIT/FA-14-RPM-242/CVC, has carried out all the work related
to this thesis under my supervision at the Department of Management Sciences, COMSATS
Institute of Information Technology, Virtual Campus and the work fulfills the requirement for
award of MS degree.
Dr. M. Imran Malik

Date:
_____________
Head of Department
__________________
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DEDICATION
This thesis is dedicated to The Creator and His most beautiful creations. I also dedicate this work
to my parents, wife and my friends whose inspiration and prayers have enabled me to complete
this thesis within allocated time.
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Abstract........................................................................................................................ 1
1.
INTRODUCTION..................................................................................................... 2
1.1
Research Objectives............................................................................................. 4
2.
LITERATURE REVIEW............................................................................................. 4
3.
RESEARCH METHODOLOGY................................................................................13
3.1- Subjects.............................................................................................................. 14
3.2 Procedure.......................................................................................................... 14
3.3 - Type of Study...................................................................................................... 14
3.4 Research Tools.................................................................................................... 14
3.5 Research Approach................................................................................................. 15
3.6 - Research Instruments............................................................................................ 15
3.7 Time Frame........................................................................................................ 15
3.8 - TREATMENT..................................................................................................... 16
3.9 VARIABLES FRAMEWORK................................................................................ 16
3.9.1 DEPENDANT VARIABLES............................................................................. 16
3.9.2 Independent Variable......................................................................................... 16
3.9.3 INTERVENING VARIABLES..........................................................................17
3.10 HYPOTHESIS DEVELOPMENT..........................................................................17
3.11 Limitations....................................................................................................... 18
4 FINDING AND ANALYSIS........................................................................................ 19

4.1 Basic Findings.................................................................................................... 20
4.1.1 Statistics of Survey........................................................................................... 20
4.2 Relationship of Basic Socio Economic Factors............................................................21
4.2.1 Relationship among Different Factors..................................................................22
4.3 Discussion and implications...................................................................................... 31
5 Conclusion and Recommendation.................................................................................. 34
Bibliography............................................................................................................. 36
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Abstract
The importance of Retention Policy is getting a pivotal role in organization as the organizations
strive to reduce their hiring, firing cost and the resources spent on training and development of
employees. The role of Retention Policy is altogether changed in attainment of organizations
aims and objective. Companies have aimed for getting maximum benefit from the employees.
Through this approach, companies not only reduce their cost on training but they also enhance
the human capital utilization in a better way. Employees and human capital is a source of
competitive advantage now days and through motivated, well trained and loyal employees
organizations can maximize their profit. This research analysis the effects of basic socio
economic factors on strategically designed retention policy. The research has been carried out
through questionnaires whereby a survey was conducted in the telecom sector of Pakistan.
Results were matched with the data directly taken from financial departments to recheck the
results. A total of 100 questionnaires were filled randomly from employees working in different
companies of telecom sector. After analyzing the data through SPSS (Statistical package for
Social Science) important findings were made on the basis of which recommendations are given
at the end of the report.
Effect of Socio Economic factors on Turnover

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And Retention policy
1. INTRODUCTION
A service provider's business is only as strong as its ability to manage its network
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innovative and essential approach that allows it to realize the true value of its network,
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thrilled to be a part of Covad's market-leading strategy.
Andrew Feinberg
Corporate leaders face Employee retention as most critical issue now days. The result is
in the form of the shortage of skilled labor, decreased economic growth and employee
turnover. All aspects of the workforce stability issue in the face of unprecedented
churning in the employment market with a focus on retaining your employees has
become a challenge of todays corporate world. This is one of the pivotal issue for
corporate leaders in all fields of business globally. The question is how to address the
uncontrolled turnover? The question has striked the organizations performance in all
fields of operations. Todays labor force is dynamic. Supervisors must take responsibility
for their own employee turnover and must find out the reasons of their turnover. If they
don't, they could be left without enough good employees who are leaving for the
competitors. A wise employer will learn with passage of time that how to attract and
keep good employees, because in the long run, this workforce will make or break a
company's reputation. New supervisors must be prepared to be competitive,
collaborative, supportive, and nurturing of their people potential. The old style of "myway-or-the-highway" style of management is a thing of past. Most new supervisors need
training to understand different theories of motivation to keep their employees engaged
and happy.

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Employee retention involves being sensitive and understandable to people's needs and
demonstrating the various strategies to keep them motivated for the organization in the
five areas described in Roger Herman's book on employee retention, "Keeping Good
People".
1. Compensation
2. Growth
3. Relationship
4. Support
5. Environmental
It takes effort to find out what sort of energies, resources and directional effort to
address the issue of employee retention. (Herman, 2010). Human capital is the major
tactical and strategic asset of twenty first century which leads to the organization
competitiveness and organizational strength. During the past recession, top 1000 leading
companies of the market had shown the concern of staffing and employee retention as
their primary concern. It has become the reality that a good worker can find employment
in any organization operating in the same market (Herman, 2010).
With the current national economic turmoil and Pakistan's role in terrorism, it is
important to develop the employee retention strategy to reduce the variable cost of the
company. Keeping in view the economic growth, inflation rate, trade deficit and
economic standing of Pakistan employee turnover is a crucial issue. Turn over can be
described as company loses the money which it spent on its training and development.
Training and development cost of the company which it has invested on the employee
will be utilized by the other company. Due to the same reason, company has to develop
a strategy to retain its employee for future development. Development of new strategy ,
hiring, firing, re evaluation of benefits and development plans cost the company in huge
monetary terms (UK Essays, 2013)
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The value of the customer base is linked with job acquisition, job retention and primary
managerial decisions now days (Gupta, 2006). These two horizons of time that pass before
attaining a job and the time duration for which a customer retains it before dropping the job for
some other job is inter related. Despite the application (and likelihood) of such a association of
the concepts, few international publications replicate the interchangeable link between these two
behaviors (Jain, 2002) . However, most of the scholors treat acquisition and retention of the job
as independent (Gupta, 2004).
This research specifically takes into account the telecommunication sector of Pakistan. Now
days, telecom sector of Pakistan has well structured human resource segment of theier
organization. Basic Socio Economic factors have certain impact to formulate the employee
retention policy. The Aim of organization is to utilize the potential of their employee by reducing
the turnover ratio of their organization. As a by product, the organization enhances the
competitive advantage. This research aims to establish as how the basic socio economic factors
affect the retention policy and to which extent in this competitive environment.
The objectives of this research are presented as follows:
1.1
Research Objectives
The research is aimed to answer the following questions:
Is there any correlation between turnover rate and rise in worth / value of socio
economic factors?
What are the types of socio economic factors which actually increase / decrease the
retention rate of an organization?

Are there any variables which impact the retention policy and for this reason play a
significant role in determining the key areas of retention policy?

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2. LITERATURE REVIEW
The fundamental reason that workers abscond / switch over the organizations is
dissatisfaction. Their dissatisfaction could crop up on many levels. Most of the published
research has identified that MONEY is not the only reason of job dissatisfaction. Employees
depart from an organization for other reasons such as career growth and development, a
change in life style and change in life circumstances (Redmond, 2014). It is convenient to
believe the reasons for dissatisfaction in expression of push factors (areas that make
employees more dissatisfied) and pull factors (areas that make employees more satisfied).
Employers are often inexperienced if they ignore retention supervision during periods of
business slump. High levels of unemployment will deter some employees from considering a
job switch over, but not everyone will do the same. Current research has proved that
unemployment rates have little bearing on the turnover plans of an employee with specialized
skills and training. Jack Welch, former CEO of General Electrichas described the skilled
employee retention as "In bad economic times you have to take care of your best. Go hug
your best. Give them a raise while you're laying other people off" (HBR, 2009).

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Exhibit 1
Job satisfaction model
Some of the factors which contribute towards a job dissatisfaction model are :
lack of job security
lack of promotions
poor benefits offering
poor work conditions
poor compensation
poor pay
Even after fixing all the above listed factors, we will not get a satisfied worker at the end (Field,
2008). Moreover, if we fix everything discussed above then we will find an employee in between
satisfaction and dissatisfaction so they are neither satisfied nor dissatisfied. Poor pay and poor
compensation can be linked to employee retention or motivation directly. Till the time an
employee is not motivated, he will not be a useful instrument for the organizational growth. Due
to the reason, the turnover ratio of the organization will be impacted. He will keep on looking
for the extrinsic rewards which are financial in nature. This type of rewards may be called as
needs of an employee which has to be fulfilled for a better job satisfaction. Maslow termed these
needs as biological needs (Field, 2008). The basis of Maslow's theory of needs is that human
beings are motivated by unsatisfied needs, and that certain lower level needs should be satisfied
before going to higher level needs. As per the teachings of Abraham Maslow, there are general
needs (physiological, safety, love, and esteem) which have to be fulfilled before a person is able
to behave in a self-seeking mode. These needs were named as deficiency needs. While a
person is motivated to fulfill these basic aspirations, they continue to move toward growth, and
eventually self-actualization. The satisfaction of these needs is quite healthy. While preventing
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their enjoyment makes us ill or act in an evil way. These factors are similar to the satisfiers and
dis-satisfiers of Herzbergs theory.
Self
Actu
aliza
tion
Esteem
Needs
Social Needs
Safety Needs
Physiological Needs
Exhibit 2 Maslow hierarchy of needs

According to Herzberg theory of motivation, there are certain job factors that result in
satisfaction for the employee while there are certain job factors that prevent the
dissatisfaction. The contrary term for Satisfaction is No satisfaction and the contrary
term for Dissatisfaction is No Dissatisfaction (Herzberg, 2015).These factors are
called Hygiene Factors. Hygiene factors are critical for job satisfaction at place of
work. On the other hand, these factors do not direct the employee towards positive
satisfaction for a long-term. But if these factors are missing / if these factors are nonexistent at place of work, then they lead to dissatisfaction. As a result, employee quits or
switch over the job. In other words, hygiene factors pacify the employees and do not
make them dissatisfied if they are reasonably embedded in the organizational retention
policy. Presence of these factors is extrinsic to work and leads to job satisfaction.
Hygiene factors can be termed as dissatisfiers or maintenance factors as they are
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required to evade dissatisfaction (Herzberg, 2015). These factors explain the job
environment / scenarios. The hygiene factors signify the physiological needs which the
individuals desired and anticipate to be fulfilled. Hygiene factors include:
Pay. The pay should be appropriate and justifiable as per the job description. It
should be comparable to the same level of job in the same industry.
Fringe Benefits. The employees of the organizations should be offered the health
care plans like Pakistan Army. They must be offered for the next of kin, parents,
children and for oneself.
Physical Working conditions. The working conditions has a vital impact on the
retention of an employe. If the employee is working in far furlong area away from
his duty station, then travelling allowance, daily living allowance, perdiem etc
should be paid. The working conditions should be clean, safe and healthy.
Otherwise compensation should be paid.
Status. The status of the employee should be retained.
Interpersonal relations. The employee should be trusted and respected within

the organization. There should be no conflict, grudge or humiliation which should
be present within the employees.
Job Security. The organization should provide the job security to the employees.
They may pay less but the organization should strengthen the bond with job
security.
Most of the research had aimed to identify the reasons that what are the factors which
determine the intentions of an employee to quit (Saks, 1997). Due to the diversity of the
employed work force and lack of consistency in the findings, there is no steadiness in the
findings of the study. Consequently, there are numerous reasons of employees switching over
the jobs. It was identified that job related stress and stressors compelled the employee to quit
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the job and search for another (Ongori, 2007). These are the individual decisions which make
one motivated enough to quit the job. There are other factors like locus of control,
powerlessness, and personal control which intimidate the employee to quit. Locus of control
is defined as the external factors which are in the control of the situation. These external
factors are luck, chance, situation, and other powerful factors which can influence ones life
(Akar, 2013). Manu et al. (2004) It was argued by many researchers that employee quits on
financial reasons (Ongori, 2007). By using economic medelling technique they have
reasoned that employee switch over the job due to the economic reasons and this model can
be used to predict the turnover ratio of the market.
Organizational stability can be improved by analyzing the local labour market conditions
(Redmond, 2014). Organizational attachment and loyalty is obtained through high wages,
fringe benefits and good working conditions (Idson, 1993). How ever some researchers argue
that turnover in the market can be predicted with local unemployment rates and job
satisfaction. Role stressors are important contributors in local market turnover rate.
Role ambiguity can be defined as the difference between what organization expects us that
what we should do on the job and what we want to do for the organization. This creates
uncertainty about our role in the organization. There is a gap in understanding the
organizational goals and our role. This misunderstanding leads in the gap of expectations of
organizations and employee thinking (Erdil, 2014). Inadequate job description, Insufficient
information and vague expectations of management may leed to dissatisfaction and the
employee feel less involved in attaining the organizational goals. Other contributing factors
are extensive job pressure, lack of consensus on job functions and performance evaluation
and management methods which leads to dissatisfy the employee and he switches over the
job (Ongori, 2007). Disregard of recent research and discussions to downgrade the
significance the of money and pay as organizational reward, there are abundant examples that
money can be taken as positive reinforce and motivator to retain the employee if the pay
structure is designed properly and have the positive impact on the employee retention policy
(Luthans, 2013)
Moreover, money is not only a motivator but it act as a positive reinforce. The more an
employee gets the more he want s it. The basic concept here is that once the money is
sufficient to satisfy the basic needs, then an employee jumps to another need and goes ahead
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in Maslow hierarchy of needs. There is proof that if the pay is reduced, morale is adversely
affected. Career growth is the primary concern of the employee but compares his monetary
benefits with the local time and market. An employee always tries to get a higher salary from
the local market if the switching cost is low. The discussion arises that why high performers
leave? The data in Exhibit 3 demonstrate this loom. The data was taken from the survey of
medical doctors and nurses while measuring their satisfaction. One of the questions of the
survey was to ask about the plans to quit or stay in the organizations. This way the employees
were distributed in two groups of leavers and stayers. The information on performance as
taken from the personal files and data. After the analysis it was revealed that high
performance leavers were the one who were dissatisfied from the standard of training and
lack of promotional scenarios. Differences among the doctors and nurses were significant
statistically. This issue can be addressed by a focused strategy of in-house training and
addressing the promotional criterion. Moreover, the remunerations can be enhanced keeping
in view the credentials and educational standards of the doctors. It can create the sense of
competition and they tend to enhance their education. By keeping a closer look at the
personal data of the employees, it is evident that why performance is linked with the
turnover. Employee gets frustrated if they are not recognized at organizational level and they
are not given the timely raise. As a result they quit the job and switch over to other due to
less switching cost. On the other hand, across the board pay raise and increased fringe
benefits may tend to retain the low performance employee in organizations. A cautious and
focused deliberate plan to this dilemma should engross performance-based rewards (merit
pay, productivity bonuses). In this way salary growth and career management can be
interlinked for the employee (Idson, 1993).

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Exhibit 3 Satisfaction Differences Among High and Low Performers Intending to Quit and
to Stay
Theories of turn over and quitting the job provided a representation of a decision making
process. As the modeling of decision making includes the factors of switching over the job, they
provide useful information about the factors of quitting. During the past 25 years , number of
models have been analyzed. The data obtained from the modeling gives a fair idea of factors
influencing the turn over. One of the models of employee turnover is described in exhibit4. The
prime objective of this model is to describe and elaborate the conditions of employee retention
that how employee expectations and alternatives play a role in his turnover decisions.

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EXHIBIT 4 Employee Turnover Decision Process

In the model described above the expectations of the employee are the monetary benefits and
rewards from the organization. Keeping in view the present price hike and inflation, the
monetary benefits are balanced. In this way the intrinsic reward system is not interli ked with
extrinsic reward system of the organization. To motivate an employee and to retain him in the
organization, he looks beyond the monetary benefits to work for the organization. Like Pakistan
Army, most organization offer a wide range of benefits to the employees. Many of these fringe
benefits are very low cost but valued very high in the perception of the employees. The perceived
value of fringe benefits is of vital importance for organization and for the retention policy to be
successful (Rhodes, 2007)
Employee normally considers the inflation rate and in comparison the salary offered to them. In
Pakistan, the rate of inflation was recorded as 10.2 % in November of 2011. Since 2003 till 2010,
the average inflation rate in Pakistan was 10.15 %. It was recorded maximum value of 25.33 %
in August 2008 and a record low of 1.41 percent in July of 2003. Inflation rate refers to a general
rise in prices measured against a standard level of purchasing power. The common measure of
inflation rate is Consumer Price Index, which measures inflation in the whole of the domestic
economy (Trading Economics, 2016). Inflation refers to the decreasing of purchasing power and
persistent rise in price of common goods. Inflation can be measured by calculating the price of
two goods at two identical points without compromising the quality of the goods. Inflation can
be measured by different methods depending upon the calculations. The most common measure
of the inflation is CPI.

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EXHIBIT 5 Pakistan Inflation Rate

Inflation rate and the price of each factor have a direct impact on the retention rate of an
organization. Employee switching cost is low due to the fact that competition in labor market is
very high. Employee switches their jobs within the same sector for even the difference of PKR
2000.00-5000.00. Skilled labor is available in the market and organization can head hunt easily.
We can take money as a reward from contemporary theories.
It is realistic to assume that successful employees consider themselves a useful employee for
other companies as well. These companies might be competitors. In past research, rewards and
outcomes are linked together for employee motivation. Whereas, corporate culture is a self
motivating culture for corporate employees. In the area of human resource management, money
is taken as the best motivator in an organization. But in a high profile career in an organization,
money will be the sole motivator alone. The top management of that organization should exert
some efforts to improve the corporate culture. If the top management is successful in creating the

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atmosphere like Google and Silicon Valley at the work place, the best employees will not be
willing to quit the job (Arnulf, 2014).
Whenever the discussion on retention ratios, retention policies and turnover rate is discussed in
top management, the primary topic is money especially bonuses, salaries, compensations etc.
Retention policies can be very successful if they have a deliberate focus on more ways to use the
money than just increasing salary . Employee loyalty must be addressed by creating a culture and
drive within the company to retain that employee. The retention program expenditures must be
articulated with the company vision and retention policy (Southgate, 2014)
3. RESEARCH METHODOLOGY
The methodology of every research paper has a significant role as it depicts that how the
data was collected and what all are the parameters of analysis through which we can
reach to a solid conclusion of our research.
In this part I have endeavored to crystallize the methodology as clear as possible for
better comprehension of results. This section is further subdivided into sub parts for
better understanding.
The research has aimed to establish as to whether there is any affect of basic socio
economic factors on retention of employees of telecom sectors or not. For the purpose of
the research and problem statement above I have structured my research as :-
3.1- Subjects
The subject of the research is chosen from the telecommunication sector of Pakistan.
Research encompasses the employees of twin city Islamabad / Rawalpindi working in
local telecommunication set up. Samples are taken randomly from a population in which
the data is distributed normally. The companies in my research included Mobilink
,Telenor, U-fone, Zong and Warid as they are the five major telecommunication
companies. Total of 100 respondents are included in the survey for the purpose of
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research. They are included from their middle and top management level. Lower level
employees were not taken as the switching cost for the company and the cost of hiring
and firing is quite low for the company.
3.2 Procedure
The nature of study is hypothesis testing. In order to analyze the data, information was
collected through one questionnaire which was circulated in five telecommunication
companies. The result of questionnaire was recorded and analysis was done. To further
reinforce our hypotheses, exact inflationary indexes were obtained for the period of five
years and the turnover ratio of the organization was computed. Current turn over ratio and
inflationary index was not taken as sample due to unstable market and spikes in the
recorded data. To match our results, the relationships between the variables were
analyzed so as to figure out whether basic socio economic factors and turnover ratio are
interlinked or not. The research was concluded on the basis of key findings. The detail of
procedure which was followed for carrying out this project is described in Para 3.3.
3.3 - Type of Study
The type of study is descriptive. The research aimed to find out the relationship between
the persistent rise in socio economic factors and the impact on turnover ratio. The project
is of quantitative nature as the target is to quantify the factors, count them and establish a
statistical model in an attempt to explain the impact of socio economic factors on
turnover ratio.
3.4 Research Tools
For a sophisticated study and finesse in analysis, SPSS (Statistical Package for Social
Science) is used. The research approach used is correlation; in which hypothesis testing
will be carried out. Focused statement will be made in the questionnaire which predict in
answer to the research question. The hypothesis developed will be based on finding of
previous research. The ultimate objective is to decide whether to accept or reject the
hypothesis. In the research the deductive approach is used. The following approach in the
research has been used.

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3.5 Research Approach

After arranging the data in order and analyzing, exact figures of inflationary indexes for
the last set of 5 years are obtained from government revenue office to further match the
results of survey. For the base results following approach is used.
Development of Hypothesis
Data collection
Analysis of data with the help of SPSS
Debate and impact of the results
Matching of surveyed data with exact governmental data
Conclusion
3.6 - Research Instruments

Research was based on following instruments:
Internet
Survey
Study of past historical research work
Secondary Data ( through books, articles, publications)
3.7 Time Frame

Research study is co-relational. Time horizon for the research is cross sectional. Due to
the reason the data is collected once in minimum possible time and analyzed to reduce
the effect of time. It is analyzed to get the results based on the analysis and to answer the
research questions.
The time frame of this study was approximately three months and was divided into:
Research design
Data collection and Data analysis
Conclusion
3.8 - TREATMENT
The data was recorded in tabulated form after the synchronization. The data is examined
by comparing the corresponding responses received in the questionnaire. SPSS was used
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to investigate the results. Correlation test was carried out so as to establish the
relationship (if any) between different variables. In addition both descriptive and
inferential statistics were used to evaluate the data collected from the questionnaire. The
data received from the questionnaire was used to test the hypothesis and verify that
whether basic socio economic factors have any impact on retention rate of an
organization.
3.9 VARIABLES FRAMEWORK
First of all we will identify the variables of the research and then we will demonstrate
them graphically which shows the relationship among different variables.
3.9.1 DEPENDANT VARIABLES
The dependant variable under study is:
Turnover ratio
3.9.2 Independent Variable
The impact of independent variable on dependant variable is either positive or negative.
In our study the independent variables are:
Children Education
Food and beverages
Recreation cost
Dress code and suiting
House rent
House hold furniture
Fuel

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3.9.3 INTERVENING VARIABLES

The intervening variables act as a surface between time and other variables.
They are hypothetical variables to establish the link between other variables.
Following variables are taken as intervening variables but the values of
intervening variables are taken accurately to further refine our study.
Laundry
Communication
Transportation
Unemployment rate
3.10 HYPOTHESIS DEVELOPMENT

The research primarily aims to recognize as to whether basic socio economic factors have some
impact on retention of the employees in an organization or they both are independent factors and
operate independently. For the purpose of analysis, the main hypothesis has been taken as null
hypothesis.
Ho (Null Hypothesis) = Basic socio economic factors do not have any impact on retention of
employees
Incase these factors have some impact (after analyzing the statistical results) then resultantly null
hypothesis will be rejected. Null hypothesis has been has been developed on the fundamental
assumption that if the retention policy has been formulated keeping in view the rise in price of
socio-economic factors then the turnover rate would decrease.
Sub Hypothesis
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Presentation of sub hypothesis will further establish the conclusive evidence about the null
hypothesis.
H1 or the 1st hypothesis aims to set up the positive equivalence between the basic socio economic
factors and the turnover ratio of the organization. Research suggests that there is a positive link
in the employee and retention reward system. These rewards are of different types and we take
pay and its allowances as a primary reward. On the other hand rewards keeps on changing as per
the existing economic scenarios. An employee has to fulfill his basic security needs to be more
satisfied and he retains himself in the same organization ( Maslow hierarchy theory).
H1 = Basic socio economic factor have some positive correlation with turnover of the
employees. Therefore, turnover rate would be on decreasing rate.
Basic socio economic factors play a vital role in reward determination and retention tools of
organizations. Still organizations have not linked this aspect of reward with retention policy of
their human capital retention goals and the employees take less time to switch the job. Basic
socio economic factors have great importance and impact for day to day living. If H1 is accepted,
then organization must keep in view the persistent rise in socio economic factors and its impact
on daily life. The main reasons rooted in switching over the jobs are the persistent rise in socio
economic factors and absence of retention tools who keep them motivated to work in the same
organization.
3.11 Limitations
The limitations of this study are as follows:
Information was collected from the head offices of telecom sectors located in Rawalpindi
and Islamabad. As they are cosmopolitan cities so they may be biased due to
geographical constraints,
Response might be biased as the nature of variables are subjective,
Some people were expected to be hesitant in participating in survey as the nature of
study is sensitive culturally,

Results may be deviated because the sample size is small.

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4 FINDING AND ANALYSIS

This section discusses the detailed findings and analysis of the data collected through various
means like interviews, questionnaires and oral assessments. In order to evaluate the impact of
basic socio economic factors on retention of employees of telecom sector in Pakistan, interviews
were carried out with middle and high level managers which revealed important sights on the
importance of basic socio economic factors and its impact on their daily life. In past few years
the role of retention policy has been entirely changed in organizations. Telenor has emerged as a
good retainer organization of the employees due to its good retention policy and organizational
reputation. Companies are more proactive in aligning their retention policies with the ultimate
goal of their organizations. In this pretext, organizations will not only save the overhead cost of
staffing, hiring, firing but save the TND cost of old employees being retained.
In present Scenarios a balanced retention policy will help the organization to reduce its overhead
cost of hiring and firing. CEO jack Welch of GE Company says that organizations should
embrace the older employees in bad times and develop the employees for future. By keeping the
employee in bad days of business and not taking the option of lay off, the employee will be more
motivated and work harder. In the present scenarios of capitalistic society where job switching is
a trend, organizations must formulate some strategy through retention policy to keep their
employees. Therefore, the pivotal role of retention cannot be overlooked in any organization. The
goal of employee retention is only achievable if companies base their retention policy by keeping
the persistent rise in the socio economic factors apart from the base salary , pay raise on
appraisal, bonus and other fringe benefits. In the study, it was observed that most of the
companies determine the motivation level of employees by good compensation package and
salary alone.
In addition, it was divulged during the interaction with the employees that the pay is increase
after the evaluation of annual performance appraisal and not by keeping the persistent rise in
socio economic factors. Pays and salaries are increased on the bases of performance appraisals in
the shape of bonuses and pay raise once a year. Whereas the effect of socio economic factors is
long lasting and effect during the whole year. In all telecom companies, the salariy raise is
interlinked with the performance appraisal at the end of the fiscal year.

Page 20
4.1 Basic Findings

Employees have been invariably attracted with higher pay scales and better fringe benefits of
other organizations within the same sector. Compensation and benefits include the retention tools
or the retention factors to address all those areas which are important for an employee. With this,
basic socio economic factors play a vital role in managing and retaining the employees with a
constant rise equivalent or more than the inflationary index. This research has been taken up in
order to study the link between basic socio economic factors and the retention policy of a
telecom company of Pakistan.
The questionnaire for this study was devised to have a closer look on basic socio economic
factors on retention of employees in the organization. The questionnaire is attached in Appendix
A. response received from the questionnaire is discussed as below:
4.1.1 Statistics of Survey
The data in regard to socio economic factors as received from the circulation of the questionnaire
is summarized as under :Statistics
Petrol Prices
Valid
100
Missing
0
Statistics
Utility Bills
Valid
Missing
100
0
Recreation
Cost
100
0
Food
Beverage
Prices
100
0
Dress Code & New

Suiting
Search
100
100
0
0
&
Children
Education
House Rent
100
0
100
0
Job Last
Quiting
100
0
Job Transportatio
n Cost
100
0
Table 1 Data of Questionnaire

For choosing the basic factors, the criterion was developed. Only those factors are considered
which are essential for the living of an employee and based on needs (Wisc, 2014).100
respondents were circulated the questionnaire and they all have to fill in the questionnaire. Total
10 variables were taken as basic socio economic factors. All questions and the interlinked
responses were valid ( Ref to table 1).
Page 21
Another aspect of the survey was the pay scale of the respondents. The pay scale was divided
into 5 groups and the results shown that maximum number of the employees fall within 50
thousand to 70 thousand rupees.
SALARY RANGE
90000 +
70000-90000
10
SALARY RANGE
47
50000-70000
30000-50000
20000-30000
0
25
13
5
10
15
20
25
30
35
40
45
50
Table 2 Salary Range

There were 47 respondents who fall within the category of 50-70 thousand pay range and the
least were above 90000. However 30000 to 50000 group was 25 % of the total participants. Here
these two groups constituted 72 % of the total results.
4.2 Relationship of Basic Socio Economic Factors
Basic socio economic factors are taken on the basis of day to day livings. Total of 10 factors are
taken which constitute the main portion of the budget of a house hold person. These factors are
interlinked with each other and by increase in one factor the consumer adjusts the other factor on
the basis of priority. Now days, companies give non monetary benefits to their employees instead
of monetary benefits. Employee of telecom sectors is given multiplicity in activities. They are
not compensated according the persistent rise in socio economic factors. They are given other
fringe benefits which cost the company less and give the liberty to adjust the budget. The result
is the switching of the job to the competitors even if there is a little difference in the pay. Due to
Page 22
current world wide recession telecom sector of Pakistan has also been hit. This is because of
declining ARPU (average revenue per user) and decreasing growth rates that the companies are
now concerned about containing their costs and hence decreasing their operational costs (Raiz,
2015). The companies dont keep in mind the interrelationship of basic socio economic factors
with the turnover ratio of the organizations.
4.2.1 Relationship among Different Factors
Respondents were asked regarding impact of patrol prices on their living standards. 70 % of the
employees replied that this facet of economic factors have a grave impact on their house hold
budget. Whereas 19 have replied that it has some impact but not completely and only 11%
replied that there is no impact on them.
Petrol Prices
Valid
True
Somewhat
True
Not True
Total
Frequency
Percent
Valid Percent
11
11%
11.0
Cumulative
Percent
11.0
19
19%
19.0
30.0
70
100
70%
100.0
70.0
100.0
100.0
Table 3 Fuel prices

Here the correlation test with turnover of Fuel prices is .852 and test of significance ( 2 tailed) is
.067 which is again significant.
Fuel prices
Pearson correlation
Sig. (2tailed)
.852
.067
Table 3 a
Here we had assumed that Fuel prices have indirect impact on the retention of the employee.
Companies do not give the compensation for the fuel prices rather adjusts as a whole in pay
package. In second question recreation cost and its rise is analyzed. When asked about planning a
recreational trip and its complexities, 31 % of respondents have replied that they feel
uncomfortable while planning a trip due to price hike. Whereas 44 % respondents said that they
are ok with the price hike and its impact. Here it is significant to illustrate that the survey was
Page 23
conducted in Rawalpindi and Islamabad where the nearest places for excursion is Murree and
suburbs which is within the radius of 100 kilometers. 25 % had replied that there is no impact at
all on the recreation cost ( ref to table 4)
Recreation Cost
True
Somewhat
True
Valid
Not True
Total
Table 4 Recreation Cost
Recreation Cost
Frequency
Percent
Valid Percent
25
25.0
25.0
Cumulative
Percent
25.0
44
44.0
44.0
69.0
31
100
31.0
100.0
31.0
100.0
100.0
Pearson correlation
Sig. (2tailed)
.794
.109
Table 4 a Recreation Cost

Recreation cost is highly correlated with turnover as it goes higher and there is no catering for in
the retention policy then there is a significant impact on the turnover ratio of the organization.
Another important factor is food and beverage price. Every organization gives some motivation
for a quality of life both inside or outside the organization. The perspective of quality of life is
different both inside and outside the organization. Within outside the office, type of food is also
taken as quality of life. Prices of food and beverages, although a negligible factor, but have great
implications. 60% of the respondents had replied that increase in food and beverage prices have a
great impact in their retention ( ref to table 5 impact of increase in food prices).
Food & Beverage Prices
Frequency
True
10
Somewhat
30
True
Valid
Not True
60
Total
100
Table 5 Food & Beverage Prices
Percent
Valid Percent
10.0
10.0
Cumulative
Percent
10.0
30.0
30.0
40.0
60.0
100.0
60.0
100.0
100.0

Page 24
30 % respondents have replied in either way that they are ok with the price hike and only 10 %
have not been affected with any price hike.
Food & Beverage Prices
Pearson correlation
Sig. (2tailed)
Table 5 a Food & Beverage Prices
.910
.032
Education of children is an important factor and takes away a major chunk of our salary. It
includes the transportation cost of children as well. In telecom sector retention policy, the factor
of education of children is ignored. Maintain the education standard and the standard od school is
not easy due to the price hike of tuition fee of schools. When inquired from our respondents, 58
% of them had replied that there is a great impact of this factor. Keeping in view the educational
standards and the number of educational institutions, it is the desire of every individual to get the
best education for their kids. 17 % had no issued linked with the educational standards ( ref to
table 6 and 6a).
Children Education
Valid
True
Somewhat
True
Not True
Total
Frequency
Percent
Valid Percent
17
17.0
17.0
Cumulative
Percent
17.0
25
25.0
25.0
42.0
58
100
58.0
100.0
58.0
100.0
100.0
Table 6 Children Education

Whereas the correlation of educational standards with the turnover ratio is as shown in the table
below
( ref table 6a)
Children Education
Pearson correlation
Sig. (2tailed)
.869
.056
Table 6 a Children Education

Page 25
Telecom sector does not accommodate their basic level employees for the living and utilities.
There are many rationales for the issue but the most important is the high cost of living in major
cities of Pakistan. Telecom companies do not own any residential set up in the cities that they can
give it to their employees like Engro, Pak Arab or Pakistan Army. Companies usually offer house
rent to their employees as percentage of their basic pay. But unfortunately due to high price and
persistent rise in this fact does not match with the adjustment in the rent and remunerations. In
table 7 and 7 a we can clearly see that 75 % of respondents are affected with the rise in house
rent whereas only 20 % says that it has some effect but not that much.
House Rent
Valid
True
Somewhat
True
Not True
Total
Frequency
Percent
Valid Percent
5%
5.0
Cumulative
Percent
5.0
20
20%
20.0
25.0
75
100
75%
100.0
75.0
100.0
100.0
Table 7 House Rent

Here it is worth mentioning that some employees have the house of their parents.
House Rent
Pearson correlation
Sig. (2tailed)
.869
.056
Table 7 a -House Rent

Turnover ratio is exceedingly correlated with the house rent and employees seek a better and
balanced prearranged pay if they switch over to some other organization.
Utility bills and price of basic necessities again have impact on the turnover ratio but
organizations do not cater for this aspect as well. Table 8 and 8 a shows the relationship between
the utility bills and turnover .
Page 26
Utility Bills
Valid
True
Somewhat
True
Not True
Total
Frequency
Percent
Valid Percent
4.0
4.0
Cumulative
Percent
4.0
20
20.0
20.0
24.0
76
100
76.0
100.0
76.0
100.0
100.0
Table 8 - Utility Bills

Utility Bills
Pearson correlation
Sig. (2tailed)
.915
.030
Table 8 a - Utility Bills

Utility bills and turnover ratio has almost the same impact. Both are highly correlated with each
other and they are significant as well. With increase in the basic utility frills like electricity, gas
and water the percentage increase in index does not match with the corresponding percentage
increase in the pay. The percentage increase is taken in organizations are random and based on
ones perception of basic economic factors.
Dress code and suiting is another important facet dealing with basic factors. Some bureaucratic
organizations are the one which forces and keeps a dress code for their office timings like
strategic plans division, Mobilink, Investment and law firms etc. Even after office timings they
have the social gatherings with a dress code. Apart from Telenor which is matrix organization,
almost all telecom companies have a dress code. What part of the pay, an employee spends on
dress code and suitings? The question was responded in a way that 77% complimented the fact
that there is an effect on their life style by persistent increase. Only 6 % have no issues with the
price hike of clothing (Ref to Table 9 and 9a).

Page 27
Dress Code,Suiting &Clothing

Frequency
True
6
Somewhat
17
True
Valid
Not True
77
Total
100
Table 9 Dress Code,Suiting &Clothing
Percent
Valid Percent
6.0
6.0
Cumulative
Percent
6.0
17.0
17.0
23.0
77.0
100.0
77.0
100.0
100.0
An employee has to spend some amount on his clothing, suiting which is as per the designation.
Dress
&Clothing
Code,Suiting Pearson correlation

Sig. (2tailed)
.909
.032
Table 9a - Dress Code,Suiting &Clothing

There is a great correlation between the price hike of clothing and the retention rate / turnover
ratio.
Another key basic socio economic factor is unemployment rate. On one hand there is a cheap
labour market available for the company and on the other hand, recruiting cost and cost of hiring,
firing will increase. The more unemployment rate the more is the switching of the job trend by
employees. Moreover , when asked from the respondents about the new job search so 90 % of
the respondents have replied that they keep on searching new jobs even while working in one
organization ( Ref to Table 10 and 10 a).
New Job Search
True
Somewhat
True
Valid
Not True
Total
Table 10New Job Search
Frequency
Percent
Valid Percent
2.0
2.0
Cumulative
Percent
2.0
8.0
8.0
10.0
90
100
90.0
100.0
90.0
100.0
100.0

Page 28
When the results are compared with the turnover ratio so it was evident that turnover ratio is
quite correlated with the unemployment rate.
New Job Search
Pearson correlation
Sig. (2tailed)
.952
.013
Table 10a -New Job Search

Transportation cost is another fundamental socio economic factor effecting the employees. It
includes the financing schemes, short term loans, and even car purchasing debts financed by the
organizations. Pakistan Army gives its employees flexi loans and easy debt financing through
Canteen Stores Department. Telecom sector of Pakistan has no such policy for its employees for
their retention. When asked from our respondents regarding the transportation cost so the reply
was affirmative by 78% of employees (Ref to Table 11 and 11a).
Transportation Cost
Frequency
True
10
Somewhat
12
True
Valid
Not True
78
Total
100
Table 11 Transportation Cost
Percent
Valid Percent
10.0
10.0
Cumulative
Percent
10.0
12.0
12.0
22.0
78.0
100.0
78.0
100.0
100.0
When we have pitched the results with the turnover ratio the results are as follows:
Transportation Cost
Pearson correlation
Sig. (2tailed)
.791
.111
Table 11a - Transportation Cost

There is a positive correlation in transportation cost and turnover of the employees. And the test
of significance shows that there is a significant result for these two variables.
Page 29
Here we can see that new job search and switching to new jobs is now trend. Sometimes it may
happen for career growth but mainly it is due to the better pay structure and remunerations.
Index of Dependent & Independent Variables from 2005-2010
Year
Fuel Prices
2006 2007 2008 2009

147.2 156.6 165.1 198.9
4
5
7
2
Recreation Cost
105.6 105.7 107.8 120
5
6
6
Food & Beverage
134.3 148.2 174.3 215.6
9
1
6
9
Children Edu Cost
125.0 133.8 140.8 165.2
3
2
8
7
House Rent
132.3 141.2 154.4 180.9
6
1
7
Utility bills
124.2 131.6 141.0 159.5
5
4
8
8
Dress Code & Suiting 117.5 123.7 133.7 152.8
8
9
2
Un employment Rate
110.6 120.9 132.2 147.2
6
1
3
5
New jobs search
119.4 124.5 138.2 163.1
9
5
8
7
Transportation
& 130.9 134.6 138.6 192.5
Communication
9
3
6
5
Turnover
9.34
12.1
14.39 15.11
Table 12 Index of Dependent & Independent Variables from 2005-2010
2010
223.9
7
124.6
2
240.4
1
184.2
3
204.5
168.6
5
160.9
1
155.3
2
179.1
7
200.8
9
15.91
In Table 12 we can clearly see the persistent rise in the index (GoP, 2010). We have taken 2000
year index as 100 and then take the yearly index after 2006. From 2008 to 2009 the index has
given a steep rise but turnover was not significant. It was due to the reason that there was a
transformation of Government and new avenues were forecasted. New mandate was given to the
elected government and there was a hope that new government will take the economical growth
upwards. We have noticed that there is a persistent rise in the inflationary index and the fuel
prices. For our reference I have taken the exact figures from OGRA (Oil and Gas Regulatory
Authority) of petrol prices and we can see the impact.
Page 30
Petrol Prices
Product
JanFeb12
11
HOBC
111.9 86.67
1
Premium
89.54 72.96
High Speed 98.82
Diesel
Light Speed 86.78 70.95
Diesel
Kerosene 89.24 66.61
Oil
Table 13 Petrol Prices (GoP, 2010)
Feb10
86.84
Jan09
72.08
Jan08
64.88
71.21
71.89
57.66
53.7
61.06
48
32.57
64.06
51.87
35.23
In our analysis we have not taken any exact figure of any specific item of Oil and Gas but we
have taken the index to show the persistent rise in fuel prices. It includes all the forms of fuel and
further more prices of compressed natural gas were also averaged.
As a whole we can summarize the two tailed test of significance and correlation of all the
variables from where we can see that there is a basic relationship between the variables both

Page 31
dependent
and
independent(ref

Page 32
to
Table
14.
Table 13 Correlation and Test of Significance of basic factors
4.3 Discussion and implications

The role of retention was completely misunderstood till past couple of decades till the time
organizations had not realized the fact of increased overheads in terms of hiring and firing cost.
Retention of employees is now used as a strategic tool for the attainment of its strategic goals.
On the other hand, retention policy is made to retain the employees for longer term. The
retention policy is also used to avoid the switching of own employees to their competitors. It will
be having a devastated effect if a company loses its employee to its competitor. Now days,
retention policy is made with an aim to maximize the utilization of home trained employees and
avoid getting newer and in experienced employees from the market. Today's challenge for every
organization is to devise such a policy which is not only unique but also practicable in today
competitive world.
Money has long been viewed as a incentive and, it is preferred on other fringe benefits. Money is
ranked at the top by some market surveyors and very little rank in low. The prioritization of
money varies with the location and individual in accordance with the telecom sector. However,
as the well-known scholar and consultant Manfred kets de Vires recently declared, Its easy to
say money isnt every thing as long as we have enough of it. Unfortunately, through, the typical
scenario its that the more money we have, the more we want. Also commenting on money,
steven Kerr, the well-known organization behavior scholar and executive at both GE and
Goldman Sachs referenced in the last chapter, noted that Nobody refuses it, nobody returns it,
and people who have more than they could never use ever use do dreadful things to get more
(Luthans, 2013). Money is always taken as a reward or it is linked from the retention. We can say
that money is taken as reward or as a retention tool. Our research also shows the same results
that money is taken as the main tool for retention and an employee always seek a better position
keeping in view the money factor. Money is taken as a very broad term and we canalize it to a
specific platform. From money as a whole we mean the compartmentation in the salary package.
Or we can term it as socio economic factors which can be measured with money. We take fuel
prices as a first basic socio economic factor. The correlation with turnover ratio is 0.852 which
states that it is highly correlated. This rejects our null hypothesis Ho , which states that Basic
Page 33
socio economic factors do not have any effect on retention of employees. Another important
finding here is that when we have pitched all the variable with the turnover ratio so the
correlation is very high and the two tail significance level is also very significant.
In most of the management literature dealing with money researches has focused on money as
pay and the ways in which pay affects motivations, job attitudes, and retention. In particular,
money helps people attain both physical (cloth automobiles, houses) and psychological (status,
self-esteem, a feeling of achievement) objectives. Here Maslow theory of motivation can be
discussed as money is taken as extrinsic reward for an employee. Vroom (1964) expectancy
model also describe the same phenomenon that whether reward is likely to enhance the worker
motivation. Here we assume that the motivation is directly linked to the retention. If an employee
is not motivated in an organization so he will not working in the same organization. Or he moves
elsewhere. The theory explains the three main facets i-e expectancy, instrumentality and valence.
An effective retention policy must take into account all these three factors. An employee must
have a firm belief that :
His will to work in the same organization will bear good performance.
His good performance will fetch him good remuneration
Good remunerations are valued and as expected
Research has proved that if anyone of these factors are weak then the policy made is not
impactive in the eyes of an employee. For example, Telenor is the only company which gives
the medical cover for the parents as well. This is called a glue factor in retention policy. If
retention policy does not take care of these rewards and we have taken the rewards as the basic
socio economic factors then any retention policy will not be having any impact on the
employees. The correlation of new job search as congruent to the turnover ratio which we have
trermed as the unemployment rate is 0.952 which is highly correlated.

Page 34
5 Conclusion and Recommendation

This research was aimed to find out the basic facts for a practicable retention policy and the
effects of socio economic factors on the retention policy in telecommunication sector of
Pakistan. The relationship of different factors among themselves and with the turnover of the
organization was analyzed. Also, it was analyzed that what all are the basic socio economic
factors in the perception of employees which are necessary to be addressed in the retention
policy. If the pay raise annually is not aimed to maintain the balance of rise in basic socio
economic factors then the employee will switch over to the other organization with a better pay
structure, even at a lower shade appointment. Results have reinforced the fact that basic socio
economic factors have a direct correlation with the turnover rate of the organization. However,
there are certain factors like clothing which are not significant as per our test of significance.
More over we have gathered the data from Ministry Of Finance And Auditor General Pakistan
Revenue and these figures further matched and second our research. The figures are taken in the
last phase of research when our results are finalized. Our results has tested ten variables and they
all are positively correlated with the turnover ratio, means when value of one variable increases,
value of other variable will also increase. Further research is required in this field that what all
can be other possible factors which directly affect the retention plans of an organizations and
retain their employees for a longer period.
Money has also played a vital role in helping develop theories of organizational behavior. For
example, if employees are interested in money, how much effort will they expend in order to
earn it, and how much is enough? It is like the philosopher Arthur Schopenhauer once said,
Wealth is like seawater, and the more we drink the thirstier we become. Moreover, if people
Page 35
work very hard but do not receive the rewards they expect, how much of a dampening effect will
this have on their future efforts? Further research in this field will give finesse to these type of
questions and further refine the retention policy of an organization.
Following recommendations can be made on the basis of my research:
Since there is a strong relationship in the basic socio economic factors and the retention
policy of telecommunication, so basic socio economic factors should form part of
retention policy.
Effective retention policy is made keeping in view the persistent rise in basic socio
economic factors.
Glue factors must be incorporated in retention policy refraining the employees by
switching the job.

There is balanced and equated rise in pay structure which is necessary for every
employee keeping in view the rise in commodity index.

Rise in pay should form part of retention policy. It should be justified keeping in view the
rise in socio economic factor index.

Rise in pay annually should be independent from the performance and appraisal system
and should form part of retention policy.

Page 36
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APPENDIX
(A)
EVALUATING THE IMPACT OF BASIC SOCIO ECONOMIC FACTORS
RETENTION POLOICY OF TELECOM SECTOR
ON
This questionnaire is being filled as a part of research being conducted for the MBA program
(HRM Specialization) at NUST Business School (NBS). This survey is entirely for research
purpose and therefore all the information collected will be kept confidential.
1- Name of your Company_______________________________________
2- Please specify your department and designation in the organization.

Page 39
___________________________________________________________________________
______
3- For how long you have been working in this organization?
4- What is your salary range?
20,000 - 30,000
30,000 - 50,000
50,000 - 70,000
70,000 - 90,000
90,000 +
5- Does increase in patrol prices have any impact on your monthly home budget?
Very true
SomeWhat True
Not True
6- Do you agree with the fact that you feel uncomfortable while planning a long
excursion trip due to price hike?
Very true
SomeWhat True
Not True
7- Does your company cater for increased food and baverages price every year in your
salary every year?
Very true
SomeWhat True
Not True
8- In your present salary, you manage the education of your children in the best
institution available?
Very true
SomeWhat True
Not True
9- You feel comfortable while paying your house rent from your prescribed salary?
Very true
SomeWhat True
Not True
10- Your organization assists you to coup up with increased utility bills?
Page 40
Very true
SomeWhat True
Not True
11- Your yearly increase in salary caters for annual increase in food and beverages?
Very true
SomeWhat True
Not True
12- Do you meet your dress code and standard of your suiting in present pay package
comfortably?
Very true
SomeWhat True
Not True
13- You think and plan for a better job keeping in view the financial crunch?
Very true
SomeWhat True
Not True
14- You manage the increased transportation cost within your salary?
Very true
SomeWhat True
Not True
APPENDIX
(B)
LIST OF GRAPHS

Page 41
Impact of Petrol Prices on Monthly Budget

80
70
70
60
50
Frequency
40
30
20
10
0
19
11
True
Somewhat True
Not True
Impact on Recreation Cost

50
45
40
35
30
25
20
15
10
5
0
Frequency
44
31
25
True
Somewhat True

Page 42
Not True
Impact of increase in Food Prices

70
60
50
Frequency
40
30
60
20
10
0
30
10
True
Somewhat True

Page 43
Not True
Quality Education of Children

70
60
50
Frequency
40
30
58
20
10
17
25
0
True
Somewhat True

Page 44
Not True
Impact on House Rent Payment

80
70
60
50
Frequency
40
75
30
20
10
0
20
5
True
Somewhat True

Page 45
Not True
Impact of Utility Bills

80
70
60
50
Frequency
40
30
20
10
0
True
Somewhat True

Page 46
Not True
Effect on Dress Code & Suiting

90
80
70
60
Frequency
50
40
77
30
20
10
0
6
True
17
Somewhat True

Page 47
Not True
Continuous New Job Search

100
90
80
70
60
50
40
30
20
10
0
Frequency
90
2
True
8
Somewhat True

Page 48
Not True
Easily Meeting Increased Transportation Cost

90
80
70
60
Frequency
50
40
78
30
20
10
0
10
12
True
Somewhat True
Not True

Page 49
Frequent job Switches

100
90
80
70
60
50
40
30
20
10
0
Frequency
86
2
True
12
Somewhat True

Page 50
Not True

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Effects of Socio-Economic Factors on Turnover Rate and

Retention Policy of Telecom Sector in Pakistan

COMSATS Institute of Information Technology

Effects of Socio-Economic Factors on Turnover Rate and

This thesis titled

Effects of Socio-Economic Factors on Turnover Rate and Retention Policy of

Date: 28 April 2016

Dr. M. Imran Malik

4 FINDING AND ANALYSIS........................................................................................ 19

Effect of Socio Economic factors on Turnover

And Retention policy

Effect of Socio Economic factors on Turnover

And Retention policy

And Retention policy

retention rate of an organization?

Effect of Socio Economic factors on Turnover

And Retention policy

Effect of Socio Economic factors on Turnover

And Retention policy

lack of job security

poor benefits offering

poor work conditions

And Retention policy

Exhibit 2 Maslow hierarchy of needs

And Retention policy

Status. The status of the employee should be retained.

Interpersonal relations. The employee should be trusted and respected within

And Retention policy

And Retention policy

Effect of Socio Economic factors on Turnover

And Retention policy

Effect of Socio Economic factors on Turnover

And Retention policy

EXHIBIT 4 Employee Turnover Decision Process

Effect of Socio Economic factors on Turnover

And Retention policy

EXHIBIT 5 Pakistan Inflation Rate

Effect of Socio Economic factors on Turnover

And Retention policy

And Retention policy

Effect of Socio Economic factors on Turnover

And Retention policy

3.5 Research Approach

3.6 - Research Instruments

3.7 Time Frame

And Retention policy

The dependant variable under study is:

Effect of Socio Economic factors on Turnover

And Retention policy

3.9.3 INTERVENING VARIABLES

3.10 HYPOTHESIS DEVELOPMENT

And Retention policy

study is sensitive culturally,

Effect of Socio Economic factors on Turnover

And Retention policy

4 FINDING AND ANALYSIS

Effect of Socio Economic factors on Turnover

And Retention policy

4.1 Basic Findings

Dress Code & New

Table 1 Data of Questionnaire

And Retention policy

Table 2 Salary Range