Business Management IA

Name- Yashovardhan Shah

Grade- 12.4
Teacher- Ms Archana Bhatia
Date Submitted- 15/9/2010

Research Question:
What HR strategies should K N Shah and Associates (a sole proprietor) use to
reduce employee turnover and retain employees?

Rationale for Study:

HR is one of the most important topics in Business. I want to pursue my

career in HR or Finance. As per the organization, this question is feasible as it
has been very difficult to retain the employees for a long term basis so it will
be easier to deal with HR strategies. Also, skillful labor has always been in a
country like India, therefore retaining employees is one of the most essential
things and hereby I am taking some HR strategies into consideration to
reduce the turnover.

Area of Syllabus Covered:

It will majorly cover all the HR strategies to retain employees and to reduce
the employee turnover. I will look more into Employer and Employee
relations. The tools which I’m going to cover from our syllabus are:

1) Maslow Need Hierarchy theory- Maslow's hierarchy of needs is a theory

in psychology, proposed by Abraham Maslow in his 1943 paper A
Theory of Human Motivation. This will help me because there are
people in different levels in an organization and there are different
needs of different people at different levels and if their needs are
fulfilled they have no reason to leave the organization. Hereby, this
theory helps me recognize the needs of the employee.

Incentives- Monetary and non monetary- Firms are constantly searching for
ways to create a motivational environment where associates (employees)
to work at their optimal levels to accomplish company objectives.
Workplace motivators include both monetary and non-monetary
incentives. This IA will discuss how monetary and non-monetary
incentives can be used to reduce the attrition rate of employees.

Methodology:
Majorly, I am going to be using primary research because the organization I am
working on is not a large scale organization therefore not much information is
available as secondary sources. Also by collecting primary research I am sure that I am
getting the right information because I am directly taking it from a source in an
organization.

The major disadvantage about primary research is that it is really time consuming.
You have to go to and fro to interview people. I will interview the owner and the
employees in the organization. There will be different interviews for them as it will
be better for me to find out what the actual problem is that the employees face as to
which they leave the organization. However I will focus on information from the net
and the books to develop a strategic link between the employees and the problems
faced by the organization.

Anticipated difficulties

Primary research is really time consuming, it may take a lot of time to collect
the data. Also the owner of the organization might have some confidential
information which e may not want to share with outsiders. The employees
may also not be really free and express themselves and their needs
considering the fact that an outsider is interviewing them and the
information might go to the owner which may arise a conflict between the
owner and the employee.

Action Plan:
1) Research Question submitted: 9/8/2010

2) Research Proposal submitted: 12/8/2010

3) Introduction and Facts and Findings submitted- 15/9/2010

4) Analysis and evaluation submitted- 10/11/10

Introduction

K N Shah and associates in basically a sole proprietorship business which is a

Chartered accountant based firm. It helps people and companies’ in managing their
accounts at a high or a low scale. There has been a problem in the firm since
several years though. The turnover rate of employees is really high, and that can
prove really dangerous for the firm as they have access to the working of the firm.
Most people join the firm to do their articleship for 3 years and then leave the firm
to join some other firm in the industry to earn more money. I choose this topic
because I find HR really interesting and I want to help the company retain its
employees.

Research Question:

What HR strategies should K N Shah and Associates (a sole proprietor) use to

reduce employee turnover and retain employees?

Procedure or methods.

Most of the methods used are by primary research. This is because the firm which I
have taken is local and not listed on the stock market, so not much information will
be available online or in books. Basically secondary information to find is difficult
about the firm. Therefore all the research will be primary in this case. I interviewed
the owner of the firm, Kamlesh Shah about the working of the firm and the turnover
rate etc… It helped in sorting out and creating different HR strategies to retain
employees and reduce employee turnover as well.

The different tools which I am going to be using is Maslow’s need hierarchy theory
and incentives(monetary and non-monetary)
Results and Findings.

I interviewed Kamlesh Shah and these are some of the results I got.

1) Total number of employees under him- 18

2) Position of employees- Given in the business tree.

3) Salary of employees at each level- Given in the business tree.

4) Employee turnover in the past 5 years- Generally once the mandatory period
of 3 years of article ship is over the student would like to shift to some other
firm as he should would like to gain different exposure in different areas as
each firm has its own strength and weaknesses.

5) Turnover at a lower or higher level- Lower level.

6) What might be the reason for the employees leaving and where do they join-
We find that employees at the middle level leave the organization and join
the industry as the training which the middle level staff gains in a
professional firm is far superior and hence as the industry gets skilled
personal they offer very high package which generally professional firm fail to
match.
 Kamlesh Shah

Nemish Ajay Shah Hemang Seema Kalpesh Mahesh

Shah Shah
B.Com B.Com B.Com MBA
CA B.Com
6.00 lakhs 5.00 lakhs 5.00 6.00
12.00 lakhs pa 6 lakhs pa pa lakhs pa lakhs pa
pa

Shankar Vishal Suresh Prakash

2.40 lakhs 2.40 lakhs 3 lakhs pa 3 lakhs

pa pa pa

Arun
Lokhande
Hemang Arun
Shah 1.25 lakhs
S.Y Bcom pa
4 lakhs
pa
2.40 lakhs pa

Jessica
Ruta Jigar Suryakant
B.Com
CA Final year B.Com
CA 3 lakhs pa
5 lakhs pa 4 lakhs pa

Bharat

3 lakhs pa