Retention MGT

IMPACT OF TALENT MANAGEMENT STRATEGIES ON
EMPLOYEE RETENTION- A STUDY OF TEXTILE INDUSTRY
Submitted to Lovely Professional University
In partial fulfillment of the requirements for the award of degree of
MASTER OF BUSINESS ADMINISTRATION
Submitted by: Supervisor:
Group No-R121 Ms. Gurneet Virk
Sadhvi Bahri R1802A15 Lecturer
Karuna Gupta R1802A28
Ritika Jindal R1802B32
Khushboo R1802B37
DEPARTMENT OF MANAGEMENT
LOVELY PROFESSIONAL UNIVERSITY
PHAGWARA
(2010)
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TO WHOMSOEVER IT MAY CONCERN
This is to certify that the project report titled _________________________________

carried out by Mr._________________(student name), S/o or D/o____________ (Fathers
Name) has been accomplished under my guidance & supervision as a duly registered MBA
student of the Lovely Professional University, Phagwara. This project is being submitted by
him/her in the partial fulfillment of the requirements for the award of the Master of Business
Administration from Lovely Professional University.
His dissertation represents his original work and is worthy of consideration for the award of the
degree of Master of Business Administration.
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DECLARATION
I, "_______________________________, hereby declare that the work presented herein is

genuine work done originally by me and has not been published or submitted elsewhere for the
requirement of a degree programme. Any literature, data or works done by others and cited
within this dissertation has been given due acknowledgement and listed in the reference section.
_______________________
(Student's name & Signature)
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(Registration No.)
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DECLARATION
I, "_______________________________, hereby declare that the work presented herein is

genuine work done originally by me and has not been published or submitted elsewhere for the
requirement of a degree programme. Any literature, data or works done by others and cited
within this dissertation has been given due acknowledgement and listed in the reference section.
_______________________
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(Student's name & Signature)
_______________________
(Registration No.)
Date:__________________
ACKNOWLEDGEMENT
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To test the students academic knowledge in practical conditions of life, capstone project
has been included in our MBA course.
Perseverance, inspiration and motivation have always played a key role in success of any
venture. Beginning as well as completion of our project report work is greatly attributed to all
those who inspired and motivated us, whose wide spread knowledge in the subject and valuable
suggestion made our project work really worthwhile.
I avail the opportunity to convey my sincere gratitude to a number of people. I express
my deep sense of gratitude to the management of the LOVELY PROFESSIONAL
UNIVERSITY for giving us the opportunity to work with this esteemed organization.
I am sincerely grateful as well as indebted to Ms. GURNEET KAUR, our project guide.
Under whose supervision We undertook this project and who regularly paid attention and
monitored the progress of our training. We , convey our sincere thanks to our project guide Miss
Pooja and Miss Tejbir. We are also thankful to my parents, seniors and friends who encouraged
me at every step.
SADHVI BAHRI
KARUNA GUPTA
RITIKA JINDAL
KHUSHBOO
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EXECUTIVE SUMMARY
The new age economy, with its attendant paradigm shifts in relation to the human capital, in
terms of its acquisition, utilization, development and retention, has placed a heavy demand on
today's HR professional. Today HR is expected to comprehend, conceptualize, innovate,
implement and sustain relevant strategies and contribute effectively towards giving the company
its winning edge. With a dynamically changing and volatile demand-supply equation, especially
against erratic attrition trends and cutthroat competition no longer restricted to local or regional
boundaries, a need for strategizing and putting in place a robust mechanism for attracting and
retaining top talent becomes vital for the company's very survival and growth.
The new age workforce comprises mostly of knowledge workers, who are techno-savvy, aware
of market realities, are materially focused and have higher propensity to switch jobs. They prefer
to experiment and explore new opportunities, are high risk takers with higher aspirations and
expectations and generally have a totally different mind-set about job and careers. In an
organization employees could be broadly classified into four categories: strugglers and under
performers. This constitutes about 1/5th of total human capital at our disposal and these people
obviously qualify to be the first candidates for the pink slip.
The other two segments comprise of the 'solid performers' and the 'stars' who are at the higher
end of the performance continuum. The former may be relatively lower in their potential as
compared with the latter, but contribute immensely to the company's overall performance. We
could call this as the 'talent' segment. This is the segment we do not want to lose. We've got to
protect this group from the pull of all non-retentive forces and that needs effective retention
strategies that have to be kicked into high gear.
Before we discuss the various retention strategies/plans that could be used for retaining the
talented employee, it is important to know the meaning of employee retention and factors that
have a bearing on talent acquisition and retention.
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TABLE OF CONTENTS
CHAPTER NO. CONTENT PAGE NO.
1) A. INTRODUCTION TO PROJECT 1-16

1.1) TALENT DRIVES PERFORMANCE 1-3
1.2) WHY TALENT MANAGEMENT? 3- 4
1.3) SEGMENTS OF TALENT MANAGEMENT 4
1.4) THE STATE OF TALENT MANAGEMENT 4
1.5) TALENT STRATEGY 5-8
1.6)WORKFORCE PLANNING AND TALENT 8
ACQUISITION
1.7) INTRODUCTON TO EMPLOYEE RETENTION 9-10
1.8) FACTORS IMPACTING TALENT ACQUISITION 10
AND RETENTION
1.9) WHY TO MANAGE TALENT
11-12
1.10) WHAT NEEDS TO BE DONE?
12-15
1.11) EMPLOYEE RETENTION THROUGH TALENT
MANAGEMENT - WHAT DOES IT TAKE TO RETAIN 15-16
EMPLOYEES?
B. OVERVIEW TO INDIAN TEXTILE INDUSTRY 17
1.12) OSWAL TEXTILE 18
1.13) PRIKNIT 19-21
1.14) JCT LIMITED 22-23
1.15) VARDHMAN GROUP 24-26
1.16) DUKE 27-28
2) REVIEW OF LITERATURE 29-36
3) 3.1) OBJECTIVES OF STUDY 37

3.2) NEED OF STUDY 37
3.3) SCOPE OF STUDY 37
3.4) RESEARCH METHEDOLOGY 37
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3.4.1) RESEARCH PROBLEM 38
3.4.2) RESEARCH DESIGN 38
3.4.3) SAMPLE DESIGN AND SIZE 38
3.5) DATA COLLECTION 38
3.6) STATISTICAL TOOLS AND TECHNIQUES 39
4)
DATA ANALYSIS AND INTERPRETATION 40-67
4.1) QUESTIONNAIRE 1 40-55
43. ANALYSIS AND INTERPRETATION OF DATA 67
5)
5.1) KEY FINDINGS 67-68
5.2) RECCOMENDATIONS 68-69
5.3) CONCLUSION 69
5.4) LIMITATIONS 69
6)
REFERENCES 70-73
7)
ANNEXURE 74-80
7.1) CHI SQUARE TABLES 74-78
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LIST OF TABLES
NUMBER PARTICULAR PAGE NUMBER

1) TABLE -4.1 40
2) TABLE -4.2 41
3) TABLE -4.3 42
4) TABLE -4.4 43
5) TABLE -4.5 44
6) TABLE -4.6 45
7) TABLE -4.7 46
8) TABLE -4.8 47
9) TABLE -4.9 48
10) TABLE -4.10 49
11) TABLE -4.11 51
12) TABLE -4.12 52
13) TABLE -4.13 53
14) TABLE -4.14 54
15) TABLE -4.15 55
16) TABLE -4.16 56
17) TABLE -4.17 57
18) TABLE -4.18 58
19) TABLE -4.19 59
20) TABLE -4.20 60
21) TABLE -4.21 61
22) TABLE -4.22 62
23) TABLE -4.23 63
24) TABLE -4.24 64
25) TABLE -4.25 65
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LIST OF FIGURES
NUMBER PARTICULAR PAGE NUMBER

1. FIGURE- 1.1 3
2. FIGURE- 1.2 4
3. FIGURE- 1.3 21
4. FIGURE -4.1 40
5. FIGURE -4.2 41
6. FIGURE -4.3 42
7. FIGURE -4.4 43
8. FIGURE -4.5 44
9. FIGURE -4.6 45
10. FIGURE -4.7 46
11. FIGURE -4.8 47
12. FIGURE -4.9 48
13. FIGURE -4.10 49
14. FIGURE -4.11 51
15. FIGURE -4.12 52
16. FIGURE -4.13 53
17. FIGURE -4.14 54
18. FIGURE -4.15 55
19. FIGURE -4.16 56
20. FIGURE -4.17 57
21. FIGURE -4.18 58
22. FIGURE -4.19 59
23. FIGURE -4.20 60
24. FIGURE -4.21 61
25. FIGURE -4.22 62
26. FIGURE -4.23 63
27. FIGURE -4.24 64
28. FIGURE -4.25 65
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CHAPTER 1
INTRODUCTION
TO PROJECT
16
A. INTRODUCTION
Talent management implies recognizing a person's inherent skills, traits, personality and offering
him a matching job. Every person has a unique talent that suits a particular job profile and any
other position will cause discomfort. It is the job of the Management, particularly the HR
Department, to place candidates with prudence and caution. A wrong fit will result in further
hiring, re-training and other wasteful activities. Talent Management is beneficial to both the
organization and the employees. The organization benefits from: Increased productivity and
capability; a better linkage between individuals' efforts and business goals; commitment of
valued employees; reduced turnover; increased bench strength and a better fit between people's
jobs and skills. Employees benefit from: Higher motivation and commitment; career
development; increased knowledge about and contribution to company goals; sustained
motivation and job satisfaction.
1.1 TALENT DRIVES PERFORMANCE
We all know that teams with the best people perform at a higher level. Leading organizations
know that exceptional business performance is driven by superior talent. People are the
difference. Talent management is the strategy.
Analyst research has proven that organizations using talent management strategies and
solutions exhibit higher performance than their direct competitors and the market in general.
From Fortune 100 global enterprise recruiting and performance management to small and
medium business e-Recruiting, leading companies invest in talent management to select the
best person for each job because they know success is powered by the total talent quality of
their workforce.
THE TALENT AGE
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In 1997, a McKinsey study coined the term: war for talent. Now in the new millennium, we
find ourselves in the talent age. During the agricultural age, the economy was based on land, a
truly physical and very tangible asset. The industrial age followed with a manufacturing-driven
economy. Higher business performance was derived through the most effective use of factories
and distribution networks.
The knowledge age moved the basis of economic value to information assets through
integrated communications and computer technology. Now the competitive battlefront is for
the best people because they are the true creators of value.
The New HR Mission and Talent Management Processes
Many challenging workforce issues confront HR, including:
Heightened competition for skilled workers.
Low levels of employee engagement.
Acknowledgement of the high cost of turnover.
Arduous demands of managing global workforces.
Importance of succession planning.
Off-shoring and outsourcing trends.
This requires new thinking and a new mission to achieve business success. These factors
coupled with the need to align people directly with corporate goalsare forcing HR to evolve
from policy creation, cost reduction, process efficiency, and risk management to driving a new
talent mindset in the organization. One important distinction is the evolution of the difference
between tactical HR and strategic talent management. Transactional HR activities are
administrative overhead. Talent management is a continuous process that delivers the optimal
workforce for your business.
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In this new modelinstead of being the owners of processes, forms, and complianceHR
becomes the strategic enabler of talent management processes that empower managers and
employees while creating business value.
Taleos graphical representation emphasizes the mandate of talent management to respond to

business goals and consequently be the driver of business performance. Talent management is
depicted as a circularnot a linearset of activities.
FIGURE-1.1
1.2 WHY TALENT MANAGEMENT?
Workforce cost is the largest category of spend for most organizations. Automation and
analysis of our recruiting and hiring processes provides the immediate workforce visibility and
insights we need to significantly improve our bottom line. Today, many organizations are
struggling with silos of HR processes and technologies. The future of talent management is
embodied in solutions designed from the ground up to provide
business-centric functionality on a unified talent management
platform.
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Since nearly all competitive business factors have become commoditized, talent is what
ultimately drives business success and creates value. Leading organizations rely on Talent
management solutions. and services to assess, acquire, develop, and align talent with business
objectives while significantly reducing process costs, improving quality of hire, reducing risk,
and achieving higher levels of performance.
Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of

successful talent management practices:
The key enabler of any organization is talent.
The quality of our people is our last true competitive differentiator.
Talent drives performance.
1.3 SEGMENTS OF TALENT MANAGEMENT
e-recruiting software
Employee Performance Management
Learning Management System
Compensation Management
FIGURE-1.2
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1.4 THE STATE OF TALENT MANAGEMENT
Todays fast-paced, global business environment, coupled with the ever growing challenge of a
rapidly changing workforce, requires a well-planned, rigorous approach to talent management.
Fortunately, both HR and business leaders recognize that talent is a critical driver of business
performance. It comes as no surprise then that talent management practices are often cited as a
key strategic priority.
However, the execution of these practices is where companies often fall short. To gain a better
understanding of the state of talent management, this research examines current practices in five
specific areas:
Talent Strategy
Workforce Planning and Talent Acquisition
Capability Development & Performance
Leadership and High Potential Development
Talent Analytics.
Using this framework, the research examined talent management practices holistically from
initial strategy through measurement practices. This research looks at all major areas related to
how organizations acquire, develop, retain, and reward employees. The research also examines
the sophistication of such programs and the effectiveness of their execution.
1.5 TALENT STRATEGY
Talent management is a complex discipline, encompassing a wide array of programs and

processes. For such initiatives to be successful, a concrete talent strategy must serve as a
constant guide, providing direction for how the organization will acquire, develop, and retain
employees, while always reflecting the key business goals of the organization. Successful
companies embed their talent strategy into the overall strategic planning process, integrating
individual programs and practices to ensure they are all moving toward the same set of
objectives.
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Senior leaders value talent but there is limited alignment with business strategy. No strategy can
be effective without the support of senior leadership and talent management is certainly no
exception. In the past, HR struggled to convince business leaders to invest their time and money
in talent management. Today, the challenge is not just whether to invest resources in talent
management, but also how to identify what talent practices provide the greatest return; where
leaders can most effectively spend their time developing people; and how to drive greater
consistency, integration, and alignment of talent practices with the business strategy. Without a
doubt, senior leadership plays a key role in creating a culture that supports talent development.
At Humana, for example, CEO Michael McCallister clearly demonstrates the importance of
aligning the companys consumerism strategy with human capital. He is credited with fostering a
culture of growth and development. By providing visible support and commitment, he instils a
talent mindset throughout the organization that is, a deep conviction that the best and
brightest will create shareholder value. Many more CEOs today are active champions for talent
management and they and their leadership teams try to foster talent cultures within their
organizations.
At McDonalds, a Hewitt Top Companies for Leaders winner, CEO Jim Skinner has designated
talent management and leadership development as one of his top three priorities. Its a
commitment he embraces in his everyday actions. At every opportunity, he espouses the
importance of talent and leadership development, both in regular communications and when
speaking publicly.
In these select companies, the alignment and integration of workforce strategies with business
strategy underscores the high priority that companies are placing on talent management. Granted,
not all organizations have managed to successfully translate leaderships belief in talent
management into concrete actions that are linked to the business. While over three-quarters
(78%) of companies report aligning and integrating workforce strategies with their overall
business strategy to some or a considerable degree, just 17% say they are doing so consistently
across the organization.
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Some attention is being placed on the identification of critical roles as part of this alignment
process. More companies today recognize that they have limited dollars to spend on talent
management and are looking for ways to get the highest value from their investment. One way of
doing this is to identify future critical roles that will have the greatest impact on business success
and focus planning efforts more heavily on these roles. Today, 42% of companies are identifying
critical roles and capabilities to a considerable degree within their organizations, but only 17%
are doing this consistently across the organization. This inability to consistently identify future
skill requirements creates challenges for organizations trying to build capability.
Consistent execution and integration of talent practices continues to fall short
While most companies have fundamental talent management processes in place, few have
managed to consistently execute and integrate such capabilities across the organization. Just 13%
report consistent execution of talent management practices across all regions in which they
operate. In addition, little is being done to integrate talent practices with other talent initiatives
(e.g., tying rewards to performance). According to our survey, only 21% of companies do so
consistently. Through our broader research, we have found that companies with more mature
talent practices are driving better integration and consistency through a combination of
approaches including:
1) Investing in robust talent management technology solutions coupled with process redesign;
2) More clearly defining corporate and field HR roles for designing and delivering talent
solutions, including greater use of talent specialists (in some cases business partners) in the field
to help improve integration; and
3) Implementing global centres of excellence for talent management to improve the coordination
and consistency of practices across regions and businesses.
Organizations are building stronger employment brands as part of their talent strategy
Leading organizations have clearly defined employment brands that include a strong focus on
diversity and corporate social responsibility. As part of their brands, these companies also clearly
define the values and behaviours that they expect from people in the organization. Recognizing
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that a compelling employment brand is critical to becoming an employer of choice, organizations
are building employment brands as a long-term solution for attracting the best quality applicants.
Closely linked to a strong employment brand is a clearly defined set of values that signal what an
organization considers important. Here, the majority of organizations (88%) report having a
clearly articulated set of values. Increasingly, these values include cultivating an inclusive work
environment, an endeavour that has been embraced by the vast majority of organizations. Two-
thirds (67%) of companies are actively working to develop and sustain a culture of diversity and
inclusion, while 24% report doing so consistently across the organization. Increasingly,
employers are coming to understand that a winning strategy includes a compelling employment
brand, an inclusive work environment, and the foundation of strong values. Without these key
components, it will be nearly impossible to succeed in todays talent market.
1.6 WORKFORCE PLANNING AND TALENT ACQUISITION
Both workforce planning and talent acquisition are critical links in an organizations talent
supply chain. Some companies are using increasingly sophisticated approaches to workforce
planning and talent acquisition as part of their strategic business planning process. Successful
workforce planning and talent acquisition initiatives focus on meeting both the short- and long-
term workforce needs. These areas are often the most visible services that HR provides, yet
many HR organizations struggle with developing an effective approach that meets business
needs. Some companies are investing heavily in building workforce planning and talent
acquisition capability, but most organizations approach these areas in limited ways focusing
primarily on meeting the talent needs of today, with very little emphasis on tomorrow.
While most organizations have foundational recruiting programs and processes in place,
workforce planning and talent acquisition processes are often not integrated and technology is
underutilized. Despite these challenges, most organizations report being able to attract the talent
they need. Workforce planning in most organizations is short-term focused, although some
companies are becoming more strategic. Effective workforce planning requires a clear
understanding of what talent is currently in place and what is required to be successful in the
future. By matching future demand to current supply, organizations can effectively identify their
hiring needs and use these projections to inform their sourcing efforts.
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1.7 INTRODUCTON TO EMPLOYEE RETENTION
Employee Retention involves taking measures to encourage employees to remain in the

organization for the maximum period of time. Corporate is facing a lot of problems in employee
retention these days. Hiring knowledgeable people for the job is essential for an employer. But
retention is even more important than hiring. There is no dearth of opportunities for a talented
person. There are many organizations which are looking for such employees. If a person is not
satisfied by the job hes doing, he may switch over to some other more suitable job. In todays
environment it becomes very important for organizations to retain their employees.
The top organizations are on the top because they value their employees and they know how to
keep them glued to the organization. Employees stay and leave organizations for some reasons.
The reason may be personal or professional. These reasons should be understood by the
employer and should be taken care of. The organizations are becoming aware of these reasons
and adopting many strategies for employee retention.
IMPORTANCE OF EMPLOYEE RETENTION

Now that so much is being done by organizations to retain its employees, why is retention so
important? Is it just to reduce the turnover costs? Well, the answer is a definite no. Its 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.
The process of employee retention will benefit an organization in the following ways:
The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of money to
a companys expenses. While it is difficult to fully calculate the cost of turnover (including
hiring costs, training costs and productivity loss), industry experts often quote 25% of the
average employee salary as a conservative estimate.
Loss of Company Knowledge: When an employee leaves, he takes with him valuable
knowledge about the company, customers, current projects and past history (sometimes to
competitors). Often much time and money has been spent on the employee in expectation of a
future return. When the employee leaves, the investment is not realized.
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Interruption of Customer Service: Customers and clients do business with a company in part
because of the people. Relationships are developed that encourage continued sponsorship of the
business. When 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: When an employee terminates, the effect is felt throughout
the organization. Co-workers are often required to pick up the slack. The unspoken negativity
often intensifies for the remaining staff.
Goodwill of the company: The goodwill of a company is maintained when the attrition rates are
low. Higher retention rates motivate potential employees to join the organization.
Regaining efficiency: If an employee resigns, then good amount of time is lost in hiring a new
employee and then training him/her 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.
1.8 FACTORS IMPACTING TALENT ACQUISITION AND RETENTION
The company's brand image crowns the list of the priorities for the job seeker, other important
considerations being; the pay package and other pecuniary benefits, the class and quality of people
that work in the company, the challenges of the job and attractive of the position and designation,
the opportunities for career growth and professional development and the kind of technology, he
would be exposed to.
From the company's perspective, its brand equity, philosophy, vision, mission, culture, values and
ecology have a direct bearing on talent attraction and retention. Other company-related attributes
that impact employee retention include high demand on performance, need for competencies,
broader, deeper and diverse job expectations, need for re-skilling and re-deployment, career
offerings and growth prospects, goal and role clarity, policies and processes and organizational
communication.
1.9 WHY TO MANAGE TALENT
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Skills, knowledge and talents are distinct elements of a person's performance. The distinction
among the them is that skills and knowledge can easily be taught, whereas talents cannot.
Further, one must never confuse talents with skills and knowledge.
Skills are the capabilities that can be transferred from one person to another. For accountants
arithmetic is a skill. Knowledge is of two types: factual things you know, and experimental
understandings you have picked up along the way. Ask a great accountant when he smiles and he
will tell you 'when the books balance'.
A love of precision is not a skill, nor is it knowledge. It is a talent. If one doesn't possess he will
never excel as an accountant. So if someone doesn't have this talent as part of his filter, there is
very little a manager can do to inject it.
The recipe of success for any knowledge economy organization hinges on its ability to leverage
human capital, so as to deliver business results. Employee development and retention plays a
pivotal role in their growth. Hence, managing talent in the LPG era, where cutting edge being
provided by HR, has assumed added importance.
It is slowly drawing on the minds of HR professional that it is easier to get good people but it is
very difficult to retain them. Then the next question arises as to what are the challenges for HR
in this regard.
What are the challenges that HR professionals or top management face in managing talent. First
quite often in their bid to attract talent HR oversells the organization to the new recruit. It is easy
to recruit good talent but very difficult to retain them especially if the foundation of the
relationship has been based on misrepresentation of the truth. The new recruiter feels cheated,
and thus sowing the seeds of self-centeredness.
The next challenge for both HR and the employee is to ensure that there is clarity in the
communication of roles and responsibilities. However, quite often roles are defined but not the
performance parameters. Without proper techniques and clearly defined parameters, measuring
performance will remain subjective, often based on likes and dislikes of the seniors measuring
the performance.
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Finally, having ill-structured compensation packets. For instance, an organization matching the
new recruits last drawn salary in the previous organization which results in two colleagues in the
same grade, performing similar job drawing widely, disproportionate salaries.
Notwithstanding the above listed and other challenges it's everybody's knowledge that in the
knowledge economy an organizations ability to attract and retain talent is sine-quo-non for
success. We are all aware that while it is easier to get good people it is very difficult to retain
them. So the retention strategies have to be viewed holistically against the total systemic
framework of "talent" the "company" and the 'environment'. Attrition and retention should be
seen as reciprocal phenomena, which have an inverse relationship with each other. Recruitment
and needs for downsizing must also be considered in conjunction. An understanding of the
inherent considerations of an individual who wishes to join a company and continue to stay, and
potential compulsions, which push him away, would help.
Further, retention strategies should be designed such that the retentive forces are maximized and
the debilitating forces minimized. Retention strategies should not be orchestrated in isolation but
must from part of the overall strategies for strengthening the pull on the talent, which in fact
include sourcing, staffing and development strategies in addition.
A robust sourcing strategy is crucial to the exercise since the type of people one selects should
not only fit into the job in terms of skill set but should match the company culture in terms of
attitude, personality and commitment. An effective selection process ensures the entry of the
right kind of people into the organization, with the desired loyalty and sense of belonging that
goes a long way in restricting attrition in the long run.
1.10 WHAT NEEDS TO BE DONE?
The first step for individual companies is to develop detailed profiles of the kind of people they
are after by analyzing the job profiles, career paths, background and experience of their current
high performers. Once we know what we are looking for, there are a number of routes we can
take. Some get what they need largely through acquisitions, which is fine if acquisitions are an
intrinsic part of corporate strategy. Some "outsource" by picking up people they believe are
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better trained elsewhere. Those who can attract the best college graduates and excel at early
development, "in source", instead.
Secondly, aggressive development strategies complement the retention strategies in a big way.
Providing opportunities to the employee for both professional and career growth and giving the
due priority to this important activity makes the company's position in the market for talent
attractive and compelling. Well articulated strategies in the context of sourcing and
development augments the retention strategies in crafting a powerful employee value proposition
that remains central to the problem of attraction and retention of top talent.
Thirdly, the ability to define, develop and deliver a winning employee value proposition should
be at the core of all retention strategies particularly for large companies facing challenges from a
multitude of smaller companies as employers. The lure of the latter in terms of excitement,
flexibility, impact (a big fish in a small pond) reward and even equity ownership has to be
countered with a stronger proposition bolstered by the former's magnitude of impact (big fish in
a big pool), depth (vast resources to take risks and to support big decisions) and variety (large
spectrum of expertise and experience to be shared).
All retention strategies must be built around a compelling, distinctive and exiting employee
value proposition. Further, these strategies must cover three distinct yet overlapping domains;
cultural, transformational and transactional. So, let us dwell upon the cultural aspects as relevant
to the issues under construction.
a. Culture is somewhat like "the operating system" of the organization. It drives the
organization and its actions. It guides how employees think, act and feel. It is dynamic
and fluid, and it is never static. Some aspects of culture are visible and tangible and
others are intangible and unconscious. Some of the most visible expressions include the
architecture and dcor, the clothing people wear, the organizational processes and
structures, and the rituals, symbols and celebrations.
Essentially organizational culture is seen in two broad dimensions. The hard dimensions
relate to the functional, technical and control aspects, while the soft aspects deal with
inspiration, emotion, energy, enthusiasm, collaboration and camaraderie, openness, sense
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of belonging, etc. A culture that is open, trusting, nurturing, authentic as well as
empowering tends to attract and retain top talent.
b. Transformational strategies that impact retention in good measure encompass

mentoring, coaching, counselling, competency and performance development programs,
retraining, re-skilling, re-deployment and job rotation, challenging assignments, job
enrichment and above all promotion of a knowledge building and knowledge sharing
culture.
c. Transactional innovative, dynamic and competitive compensation strategies, various
welfare initiatives, social and community activities, workload balancing, effective work-
life integration, reward and recognition, establishment of good communication and
feedback network, etc, form the transactional strategies. Anti poaching measures may
also find their place in this category. Although technology based defences against an
aggressive e-recruiter like various e-security mechanism work for sometime, the real
potent measures are inherent in enhanced job satisfaction and strengthened relationships
within the organization.
In order to be able to orchestrate and implement effective retention strategies, the first step
should be to understand the scope of the retention problem that is unique to one's organization.
The target group, which is crucial to the company's operations and success, should be identified
and the strategies are directed appropriately. It is a paradox that the companies which invest
heavily in recruitment and development and make a good job at that, are prone to more risk of
poaching. A sound sensing and tracking system to assess the volume and causes of attrition by
performance level could be useful. The ability to identify good performers, who are prone to
leave for any job or management, related issues and timely intervention to address these issues
could be effective.
1.11 EMPLOYEE RETENTION THROUGH TALENT MANAGEMENT -

WHAT DOES IT TAKE TO RETAIN EMPLOYEES?
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Companies with high employee turnover rates are losing valuable resources in addition to
money. It costs a good bit of money to advertise to fill positions; interview potential employees;
and train new employees. This can be particularly expensive if the high turnover rate is for
middle or high level positions. Many companies and organizations are embracing HR talent
management programs that evaluate the issues of employee retention.
There are some simple steps that companies can take to help retain the employees they have.
Employee retention is also an attractive quality to new prospects looking for positions. Here are
a few tips and scenarios that could help keep employees happy, productive and working:
Offer employees performance based bonuses. It's been found that employees view
bonuses more favorably than they do raises. It gives employees extra incentive to work
for something tangible.
Provide employees with good bosses and mentors. In an article published in Forbes -
85% of bosses thought that employees that left the company was due to wanting more
money; but in the exit interviews 80% of the employees stated that they left for reasons
due to poor management or dysfunctional company culture.
Set up goals and expectations. The main reason why new employees - from all levels -
often fail within the first six months of being hired is - they have not been told what is
expected of them.
Challenge employees. Boredom can send employees running for the door. Giving
employee's work that is challenging also shows them that they are a valued part of the
company.
Showing sincere interest in the well-being of the employees. Senior management should
be involved with the employees. Attention should be paid to the individual needs of the
employees.
Employee career development. If an employee feels that he or she can work toward their
career goals within the company they are more likely to remain part of the company.
31
Employees want attention, interaction with bosses, performance incentives and clear direction on
exactly what is expected of them. These are the basic needs of the employees - at all levels. It's
an additional incentive to remain an employee if career development is important to the
company. This gives the employees even more reason to stick around - if the company is
sincerely interested in the employee doing well - the employee will do well. All of these issues
can be addressed and implemented with a talent management program. Keeping talent should be
on the top of the priority list for any organization.
Hiring and retaining talent has become more difficult. Talent management is a necessary
resource. Worksites offers competency models and workshops on building a competency model.
Develop and retain your best talent
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B. OVERVIEW TO INDIAN TEXTILE INDUSTRY
Textile accounts for 14 % of Indias industrial production and around 27% of its exports
earnings. Textile industry in India covers a wide gamut of activities ranging from
production of raw material like cotton, jute, silk and wool to provide high quality
products such as fabrics and garments to consumers.
Man made fibers account for around 40% share in a cotton dominated Indian textile
industry. India accounts for 15% of worlds total cotton crop production and records
largest producer of silk.
Industry uses a wide variety of fibers ranging from natural fibers like cotton, jute, silk
and wool to man made fibers like polyester, viscose, acrylic and multiple blends of such
fibers and filament yarns.
Textile industry plays a significant role in Indian economy by providing direct
employment to an estimated 35 million people, by contributing 4% of GDP and
accounting for 35% of gross export earnings. Textile sector contributes 14% of value
addition in manufacturing sector.
It is the second largest employer after the agriculture sector in both rural and urban areas.
India has large pool of skilled labor, experienced in technology skills.
Almost all sectors of textile industry have shown significant achievement. Sector has
shown a 3.66% CAGR over the last five years.
Textile exports during the period of April-February 2003-2004 amounted to $ 11,698
million as against $11,142 million during the same period, showing increase of around 5
percent.
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1.12 COMPANY PROFILE OF OSWAL TEXTILE
Chairman & MD : Mr Ashok Oswal
OSWAL GROUP is a premier Textile Group of India having its Corporate Office at Ludhiana,
Punjab. The Group has existence for last 40 years with core competency of Spinning. It was
earlier part of Vardhman Group but after family settlement between two brothers in 2003, it is
known as Oswal Group. The Projected turnover of the Group is INR 500 Crores (US $113.64
millions) at its full scale of operations.
Subsidiaries
1. Vardhman Polytex Ltd.

2. Oswal F. M. Hmmerle Textiles Ltd.
3. Oswal Retail Pvt. Ltd.
4. AM Kryon International Pvt. Ltd.
Goals
The Oswal Group is in the process of expanding the Spindles capacity, establishing
Knitting & Garment business in a big way.
The Group has also an arm for retailing under a separate company namely Oswal Retail
(P) Ltd. It has setup 35 stores and plans to have 135 stores by 2008.
The Oswal Group steps into 2007 to combat post quota situation and to face the
competition from the global players. It will continue to strive to be technology driven and
customer oriented all the times.
34
Activities
Spinning
Dyeing
Weaving
Garmenting
Retailing
1.13
Priknit is one of the leading men's wear integrated apparel manufacturing and retail companies
of India. Priknit has established itself in the business of designing, manufacturing and retail of
apparels under the Priknit brands through a network of 152 exclusive brand outlets.
Priknit Retail Limited, led by its founder and Managing Director, Sh. Vijay Kumar Ghai is one
of North's leading business houses with multiple businesses spanning across the consumption
space. While retail forms the core business activity of Priknit retail, company is also present in,
manufacturing & trading of knitted cloths, woolen garments etc. Started in 1983 when founder
Sh. Vijay Kumar Ghai set up a small hosiery unit .From the inception in 1983 Priknit was eying
big and now in year 2010 it has established a manufacturing unit (having a capacity to
manufacture approximately 2.5 million pieces of apparel per annum). Since then our
manufacturing and finishing capacity has increased significantly. Currently the Company has in-
house manufacturing/finishing units and warehouses which are spread across various locations in
and around Ludhiana. Company has also entered into fabricating agreements with various
manufacturing units to which we outsource stitching of certain apparels. Our manufacturing and
finishing facilities are backed by adequate facilities for product testing, apparel development,
design studio and sampling infrastructure to ensure high quality apparels for our customers.
Brand Priknit have grown significantly in the recent past & has become a house hold name in the
northern & eastern markets... The strength of brand Priknit has significantly contributed to the
35
success of its business. Priknit brand is positioned as a brand in the middle to high fashion
segment, offering a complete range of a man's wardrobe (in the age group of 18 to 45 years)
ranging from semi formal to casual and party wear. Priknit is also present in women segment as a
casual brand targeted at fashion conscious young women in the age group of 18 to 35 years and
is positioned as a fashionable and contemporary, value for money brand.Priknit as of now is well
positioned to capture considerable growth opportunities in India's apparel manufacturing and
retail sectors, because of our following key strengths:
Wide network of Exclusive Brand Outlets.
We have an extensive network of exclusive brand outlets for our brands Priknit , which are
spread across the metros, tier I and tier II towns of India. As of March 31, 2010, the "Priknit"
brand is sold through 152 exclusive brand Outlets Company has an established network in
north/north western India and is rapidly consolidating our network in western and eastern India.
COMPETITIVE STRENGTHS.
We believe that we are well positioned to capture the growth opportunities in India's apparel
manufacturing and retail sectors, because of our following key strengths.
PARTNERSHIP WITH SMC GLOBAL, BENETT COLEMAN & HT MEDIA
SMC Group, a leading financial services provider in India is a vertically integrated investment
solutions company, with a pan-India presence. Existing network includes regional offices at
Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur and Hyderabad plus a
growing network of more than 1800 offices across over 400 cities/towns in India. SMC has
invested 2.5 crores.
The Times of India (TOI) is a popular English Language newspaper in India. It has a largest
circulation among all English language newspapers in the world. TOI has invested Rs 11
Crores .HT Media is one of the largest media companies in India. HT Media has invested Rs 5
Crores.
36
OURSTRATEGY
Principal elements of our strategy are the following: Increase geographic penetration by
spreading the network of exclusive brand outlets. We will focus on maintaining and reinforcing
the image of our existing exclusive brand outlets and also introduce our apparels to new
geographic areas and consumer sectors that are presently less familiar with our apparels. For the
"Priknit" brand, we have an established network in north. We have also planned to strengthen
thisnetwork.
Further, we have planned to introduce an exclusive range of shoes to be launched through our
exclusive outlets in select 50 cities. We plan to consolidate our presence across all regions in
India and also seek to increase our business with our existing customers by offering them
apparels that are in line with the latest fashion trends and by capitalizing on our relationships
with them by offering them at affordable prices.
OURBUSINESSPROCESSES
We have set out below our business processes for: (a) our manufacturing', and (b) our sales
operations. Manufacturing processes Our business model for manufacturing of apparel involves
(i) conceptualization and designing, (ii) finalizing the product and design, (iii) procuring raw
material, (iv) manufacturing apparel either through our in-house manufacturing/ finishing units
or through third-party slurring, (v) finishing and packaging, and (vi) storing in warehouses. Our
manufacturing operations flow in the following manner.
37
FIGURE 1.3
1.14 JCT LIMITED: AN OVERVIEW

In the field of cotton and blended fabrics, JCT has always been a trendsetter. It is one of the
leading manufacturers and exporters of cotton textiles in the country.
JCT limited Phagwara; a composite unit having spinning, weaving, and processing facilities is a
blue chip company of the Thapar Group and was incorporated on 28 th October, 1946 under the
name of M/S Jagatjit Cotton textiles Mills. The establishment of JCT limited was the result of
the decision taken by the government of India under the post war development plan. It was
decided to locate the mill in the north India and after much discussion; Kapurthala was selected
as a site for textile venture. It was M/S Karamchand Bros. Ltd. Who entered into a final contract
38
with the government of India to set a mill at Phagwara (Punjab). The disadvantage of
unfavorable weather was offset by other factors such as cheap labor, availability of raw material,
and governments aid. Thus, the company came into existence in 1946.
In the initial years, the business was on a small scale and the company was manufacturing only
cotton fabrics. That is why it is called Jagatjit Cotton Textiles Ltd. Afterwards the company
also started manufacturing cotton yarn, and nylon T filament yarn. JCT has made a big dent in
synthetic markets by producing plain and fancy suiting; both piece dyed and fibre dyed and dyed
yarn shirting in innumerable designs and weaves to cater the different segments of the market.
The policy of management to reinvest its profits year after year led the mill to grow rapidly into
one of the leading textiles mill in the country. In 1995, Rs. 300 crores was invested for the
modernization of the Phagwara unit. This unit is now one of the most modern units with the state
of art technology.
The management for over three decades has implemented the concept of participative
management. The workers/ employees and their representatives are fully involved in the
management and running the affairs of the company. This policy of management has generated
tremendous goodwill for the company amongst its employees and the result is that the company
has a committed workforce of about 5000 workers and 530 employees and the most cordial
employee- employer relationship.
As this is the era of cutthroat competition, JCT believes in quality, which results in leadership,
and as result, this has led them to tremendous growth. JCT fabrics have captured profitable
sections in the market. There has been a constant growth in the man-made fibre with a wide
variety of nylon and polyester filament yarn.
LOCATION OF JCT
The mill is situated in Phagwara town on G.T. Road, the national highway number -1. It is 40
kilometers from Ludhiana towards Amritsar. The location of the mill is of great advantage as
transportation of goods is cheaper, easier and quick.
JCT PHAGWARA COMPLEX
39
The complex consists of a mill and the Thapar colony. In the mill, there is a main production
unit, administration offices, go downs, stores, canteen, dispensary, and the turbines for the
generation of electricity.
The residential complex known as Thapar colony is for the officers and other employees. It
includes gymnasium, club, and a lake for boating. The whole complex, thus, is like a small town
in itself.
1.15 ABOUT VARDHMAN GROUP
ESTABLISHMENT OF VARDHMAN
40
The industrial city of Ludhiana, located in the fertile Malwa region of Central Punjab is
otherwise known as the MANCHESTER OF INDIA. Within the precincts of this city is
located the Corporate Headquarters of the Vardhman Group, a household name in Northern
India has carved out a niche for itself in textile industry. The Vardhman Group, born in 1965,
under the entrepreneurship of Late Lala Rattan Chand Oswal, has today blossomed into one of
the largest Textile Business houses in India. Father of present Chairman cum managing
director, SH. S.P.OSWAL.
VARDHMANS INTRODUCTION
The Vardhman Group is one of the largest textile houses in the country. The group has the
sizeable presence in Spinning, Weaving, Sewing Threads, Fabrics Processing, Acrylic Fiber
manufacturing and Alloy Steels.
In 1965, at the time when India was awakening to the need for industrial investment, Ludhiana, a
bustling town in the fertile Malwa belt of Punjab, witnessed the establishment of Vardhman
which started as a 14,000 spindle spinning unit under the entrepreneurship of Late Lala Rattan
Chand Oswal . Vardhman has grown into full fledged textile group, with a range of textile
products stretching from fiber to fabric. Over the years, Vardhman has expanded its spinning
capacities besides adding new business.
In 1982, the group entered the sewing thread market and has grown to be the second largest
producer of sewing thread. In 1992, it undertook forward integration in the weaving business. It
has also made its mark as the quality producer of Grey poplin/sheeting/shirting in the domestic
as well as foreign market.
In 1990, the group went in for another diversification by entering the weaving business. A grey
fabric weaving facility was set up in Baddi, in Himachal Pradesh with a capacity of 20,000
meters per day. Soon after the group entered into fabric processing by setting up a unit by name
of Auro Textiles in Baddi itself. This unit today has a processing capacity of 1 lac meters/day.
In 1999, the group went in for diversifying into a business where it didnt have sufficient
expertise when it set up an acrylic fibre manufacturing facility in Bharuch (Gujarat).But this
shortcoming was overcome by bringing in the technological capabilities of two able Japanese
41
partners, Marubeni and Exlan, into the venture. So a joint venture Vardhman Acrylics Ltd was
set with a two Japanese companies of late the company setting up man integrated textile
manufacturing facility in Budni and Satlapur (M.P.) where it is setting up a captive power
generation unit, a spinning unit-Satlapur as a composite unit (spinning and weaving) - Budni.The
facilities are expected to add 2.5 lac spindle to the already massive 5, 00,000 spindle capacity of
the group. More importantly it would give its a manufacturing presence in central India from
where it can better serve its western and south Indian clients.
Until now the company had all its manufacturing units in the northern India which not only
made it difficult to serve its far off clients but also posed the problem of capacity constraints for
the company at the existing units just when demand for Textile is expected to pick up in the post
quotes scenario. The capacity is expected to solve both these problems and is expected to
become operational by 2008.
During the year 2004 -05 Vardhman Spinning and General Mills Ltd. (VSGML) merged into
Mahavir Spinning Mills Ltd. (MSML) and VSGML became a holding company. Today
companies of the Group like Vardhman Spinning & General Mills Ltd. (VSML) and Mahavir
Spinning Mills Ltd. (MSML) are listed and trade on various Stock Exchanges in India. The
Groups joint ventures include VMT Spinning Company Ltd. (A joint ventures with Toho Rayon
Co. Ltd. and Marubeni of Japan) and Vardhman Acrylics Ltd. (A joint venture with Japan Exlan
and Marubeni, Japan)
Vardhman is also the largest manufacturer and exporter of Cotton yarns from India. It is the
second largest producer of sewing threads in India and a large producer of acrylic fibre and
greige/ finished woven fabrics. The company has been awarded the prestigious Texprocil award
for outstanding achievements in exports regularly over the last decade. Adherence to systems and
true dedication to quality has resulted in obtaining the coveted ISO-9002, ISO-14002 quality
award which is the first in the Textile Industry in India and yet another laurel to its
credit.Vardhmans endeavor to provide its customers with state-of-the art products has been
felicitated time and again, by the industry and the Government.
42
1.16 DUKE
The Duke saga commenced about four decades ago, in Ludhiana, the fashion hub of Punjab.
Today Duke embraces a complete vertically integrated garment manufacturing plant, with
knitting, dying, processing, finishing, mercerizing, compacting, embroidery and printing under
one roof. Production facilities are in India.
Duke Fashions (India) Limited pioneered the T-shirt culture, and gradually established several
new trends in knitting garments and fabric research. In 1998, Thermal wears were introduced for
43
the first time in India, under the brand name "Neva", by Mr. Nirmal Jain, Younger brother of the
founder. Two other group constituents Venus Garments (India) Limited and Venus cotsyn
(India) Limited, Glaze Garments (India) Limited, is headed by Mr. Anil Jain, the youngest of the
brothers.
Today Mr. Kuntal Jain, son of the founder, is steering the flagship brand in the new millennium.
Thanks to his dynamic Programs, Duke is acknowledged today as the undisputed leader, with a
turnover Rs. 65 crores.
Stringent quality control mechanisms punctuate the entire operations and make certain that the
final products enjoy true value for money status and first choice of customer in India and abroad
as well.
The Company strives to be a good corporate Citizen, with several path-breaking eco-friendly
initiatives to minimize pollution, e.g. waste water treatments, use of nature and eco-friendly
materials such as dyes and chemicals, and recycling of polyester yarns. The goal, simply stated,
is to ensure a green, unpolluted environment.
Awards & Rewards
Duke fashions (India) Limited has received the most coveted ISO 9001-2000 certificate
from DNV, the largest certification body in India.
ORG_MARG, the largest market intelligence service in Asia, has proclaimed Duke T-
shirts as the number one selling T-shirts brand in India.
Mr. Komal Kumar Jain, founder, was awarded the prestigious Udyog Patra Award by the
Institute of Trade & Industrial Development for his contributions towards economic
growth.
DFU publications have felicitated Duke with the Inside Fashion award, for excellence
in retail.
44
Safety award from Director of factories and Punjab industrial safety council Chandigarh.
ITID Quality Excellence Award for manufacture of T-shirts & Ready-made Garments
from Shri. S. Vaghela (Hon'ble Minister of Textiles, Govt. of India)
Strategic Approach
The Duke groups strategic approach is entirely brand centric and strategically defined to
reach divergent markets in India and around the World, especially in Nepal, Sri Lanka,
Canada and U.S.A. with the help of extensive advertising and promotional campaigns. Our
seasonal product catalogues are successful in positioning our brand at the top echelons of
quality and value for money.
A strong market network of over 2500 multi-brand outlets and over 70 exclusive stores
across major cities in India is succeeding in bolstering the profit curve of the entire product
range. Our own sales team monitors this massive network to:
Make it easy for the network to build positive relationships and increase sales.
Understand market segments and changing demands. Communicate feedback to the Group
headquarters.
45
CHAPTER 2
REVIEW OF LITERARTURE
REVIEW OF LITERATURE:
Clayton Glen. Industrial and Commercial Training Guilsborough: (2006 ) stated to examine
effective, practical and holistic people strategies that address key skills retention, employee
engagement, employee motivation and attendance gaps, with a view to positively impacting on
organization costs, productivity and business performance. The paper also seeks to examine the
value of assessment and feedback in talent engagement and retention, and to look at developing
employees via experience-based development initiatives
Randall M Craig Canadian Mining Journal Don Mills Feb (2006) The cost of replacing
employees is now estimated to be approximately 150% of their annual cost, and it's no wonder.
Statistics show that more people than ever before are choosing to leave their jobs. The Job
46
Quality Checklist is an often-cited list of when an employee should consider leaving. We can use
the same checklist - but from an employer's perspective - to suggest how to keep them on the
team. Ironically, this same checklist can also be used to attract new employees.
Michael Laff (2007) says that in contrast with the gloom and doom forecasts
about employee satisfaction, a recent survey by Hudson, a recruitment and talent
management agency, revealed that a large majority of employees are content in their current
position. The irony is that while employees cite a greater sense of satisfaction, their managers are
either unaware or cannot identify a retention strategy within their own offices. Organizations can
correct the imbalance by educating managers about the retention strategy and then taking a top-
down approach to communicating all retention initiatives throughout the organization.
Nonetheless, many employees still consider themselves free agents in terms of their future.
Walter G Tymon Jr, Stephen A Stumpf, Jonathan P Doh ( 2007) The challenge of global talent
management is critical to firm success. Even with the global economic slowdown of 2008 and
2009, there are continuing challenges in attracting, managing, and retaining talent, especially in
the developing regions of the world where economic activity has outpaced the availability of
skilled employees. To examine this situation, we develop and test a model of talent management
across 28 Indian firms involving 4811 professional-level employees. The intrinsic rewards
experienced are a critical element in employee retention, satisfaction with the organization, and
career success. We explored four antecedents of intrinsic rewards: the social responsibility of the
employer, pride in the organization, manager support, and performance management (PM). We
found support for the importance of intrinsic rewards as a mediating variable, as well as for the
moderating role of certain hygiene factors. Our research suggests multinational, international,
and national employers may have non-pecuniary mechanisms to promote retention and employee
satisfaction, even in challenging labor market environments.We conclude by proposing
implications for research and global HRM practices.
IOMA's Report on Compensation & Benefits for Law Offices. New York: (2007). Support.
What's missing is real employee enablement to position motivated employees to succeed. In fact,
our findings suggest that although organizations in the top quartile on engagement demonstrate
revenue growth 2.5 times that of organizations in the bottom quartile, companies in the top
47
quartile on both engagement and enablement achieve revenue growth 4.5 times greater. But how
do you ensure that you're doing the best possible job of enabling your employees?
David (2007), said that a well-managed organization needs adequate talent to achieve its goals.
In addition, organizational leaders need to understand the individuals that are working for the
organization. By learning how the behavior and culture of individuals affects the organization,
leaders and organizations move one step closer to success.
Pallavi Srivastava, Jyotsna Bhatnagar. Industrial and Commercial Training. Guilsborough

(2008) With talent management becoming an area of growing concern, there is a need for
practicing due diligence in their talent acquisition strategy. To meet the demands for talent with a
specific skill set in a given timeline, the organizations are adopting innovative recruitment
practices to find the correct skill sets and competencies. The purpose of this paper is to discuss
some of these practices and also to investigate talent acquisition and its relationship to levels of
employee engagement During talent acquisition, due diligence is required in assessing the
person-organization fit and providing an enabling work environment to keep the talent anchored
to the organization. The paper highlights the impact of due diligence in talent acquisition, which
is the most crucial problem faced by the organizations in the present times, by means of a case
study.
Jay (2008) propounded that Global Communications has difficult times ahead. Given the current
financial status and profitability of the company, decision to implement a new plan and the
negative fallout of restructuring changes proposed, the current state of affairs is not good.
Several factors or symptoms of the problem will be discussed with emphasis on correcting those.
Hopes are to address the main problem being severe communications issues within the
organization and presenting goals to help the company move forward on the right track.
Kmarie (2008) said that the Cultural barriers to change can cause the most well-planned change
management process to fail. This 1,250-1,500-word paper will focus on recommending what
management strategies are necessary to identify and overcome commitment barriers. You will
consider barriers that might inhibit long-term sustainability from an organizational culture or
human perspective. The necessary information for this assignment will be obtained from the
simulation your team has just completed and a minimum of two to three peer-reviewed journal
48
articles. Each team member will need to take notes during the simulation regarding the major
systems and players involved in the scenario.
Kathryn J. Mearns1 and Rhona Flin (2008) stated the concepts of safety culture and safety
climate in an attempt to determine which is the more useful for describing an organization's
state of safety. From a review of the literature purporting to measure safety culture or safety
climate, it is argued that, although the two terms are often interchangeable, they are actually
distinct but related concepts and should be treated accordingly. The term safety climate best
describes employees' perceptions, attitudes, and beliefs about risk and safety, typically measured
by questionnaire surveys and providing a snapshot of the current state of safety. Safety
culture is a more complex and enduring trait reflecting fundamental values, norms, assumptions
and expectations, which to some extent reside in societal culture. The expression of these
cultural elements, perhaps, can be seen through safety management practices which are
reflected in the safety climate. Basically, measurement of safety culture requires in-depth
investigation including an analysis of how organizational members interact to form a shared
view of safety.
Gerard F. Becker (2008) There has long been a debate pertaining to organizational culture
versus climate, and their impact on organizational success. This paper compares and contrasts
both organizational culture and climate through existing research and theoretical foundations.
The examination of these theoretical underpinnings concludes that transformational leadership
can influence each and there are relevant steps for changing culture and climate via
leadership.abstract from authorcopyright of Review of Business Research is the property of
International Academy of Business &Economics (IABE) and its content may not be copied
or emailed to multiple sites or posted to a listserv without the copyright holder's express written
permission. However, users may print, download, or email articles for individual use. This
abstract may be abridged. No warranty is given about the accuracy of the copy. Users should
refer to the original published version of the material for the full abstract.
Aida Hajro (2008) A opounded that the aim is to trigger a discussion about developments in the
field of corporate culture and to stress the needs and directions of further research. Two major
questions are considered: 'What do we know about the relationship between corporate culture
and national culture?' and 'What has been learned about the cultural features of a strong
49
corporate culture?' The review shows that progress has been made in organizational culture
research. Yet if we want to move forward, we must not only build on existing research trying to
fit it into the current frameworks but be willing to take greater steps and ensure that we capture
the full complexity of the phenomenon.
Howard J. Morgan (2008) provides a viewpoint based on the author's line management and
executive coaching experience, which provides practical guidance to help identify, motivate and
lead top employees to create a high performance culture. Ten suggestions for effectively
motivating and retaining talent based on anecdotal accounts are provided. This recognizes
current organizational pitfalls within corporations and offers key learning's from coaching
engagements. This paper is not intended as a comprehensive leadership/academic tome but as a
practical employee retention guide for leaders. It provides a viewpoint based on the author's
line management and executive coaching experience.
Leisha McGrath(2008)Trends within accountancy practices indicate that firms improve their
return on investment when they direct their efforts to attracting and retaining their human capital
rather than focusing solely on sourcing talent from outside the organization. If we agree that the
focus must be on attraction and retention of key talent, then it stands to reason that firms must
formalize their initiatives to this end. Many firms are beginning to translate this awareness into
the development of a High Potential (Hippo) Management Programme aligned to overall
company strategy and expressly owned by the partnership or management team, often run day-
to-day by a High Potential Executive Committee. High Potential management requires the buy-
in and commitment of both the employee and the organization, with progression being honestly
reviewed on a regular basis, in line with employee performance and market demands. To retain
the Hippo label, employees must continue to prove themselves and to deliver.
Sandy Mazur. Franchising World (Oct 2009) Focusing efforts on cost savings doesn't have to
mean foregoing retention efforts altogether. In fact, companies that continue to invest in perks
and feel-good programs for employees, even in an economic downturn, tend to outperform their
peers. Employees today yearn to be connected to their employer and to something broader and
bigger that what may be found in their job description. Workers yearn for opportunities to learn,
grow and perform at the highest level. And they believe they have a role to play in helping their
50
employer succeed. Workers want and need work/life balance options, and providing such
programs directly increases job satisfaction, worker productivity and retention. Employees are
driven and motivated by different things, so one perk or bonus is not going to satisfy everyone.
Great communication is vital to any organization, and often communication is unclear or
insufficient.
K Michael Janas nov (2009): Any organization that fails to focus on the retention of necessary
staff and high potential employees risks coming out of the recession without the employees
needed to help the company prosper. People leave managers and supervisors than they leave
companies or jobs, according to HR expert Susan Heathfield. During difficult times, a positive
strategy is required and involves ensuring a competitive pay structure where top performers are
properly compensated and mechanisms are in place to retain critical players. When companies
face difficult times, human resource is given a golden opportunity to prove its worth.
HR Focus. New York: Sep (2009): As the recession continues and recovery begins, the issues of
turnover and retention remain at the center of most HR professional worlds. Smart organizations
know that despite layoffs, voluntary turnover can put an already challenged organization in an
even more precarious position in terms of productivity and leadership. As a result, retention
continues to be the goal, though pursued a little more quietly than in the past. These are some
findings from the just-released results of a survey conducted by IOMA, HRfocus's publisher.
Highlights from the survey results related to the turnover and retention portions of the research
are presented. In line with the higher rates of layoffs in recent months, the rate of involuntary
separations rose while voluntary separations dropped. Professional and technical employees
were the ones most likely to leave voluntarily, at 6.4%. The number-one reason employees leave
voluntarily was for career opportunities, cited by 67.8%. Personal reasons was the second most
cited explanation for voluntary turnover.
John Boe. The American Salesman. Burlington: Mar (2009): Excessive personnel turnover is
not only unhealthy for the morale of a sales force, but it is also costly in terms of time and
money. Perhaps less obvious, but just as detrimental, is the negative impact excessive turnover
has on eroding customer confidence and loyalty. Retaining successful salespeople is not a secret
recipe, but a formula that includes factors such as leadership, recruitment, training, and
51
professional growth opportunities. While the skills required to be an effective salesperson are
fundamentally important, they are not always a reliable indicator of leadership potential.
Training is critically important for both the new and seasoned agent alike and is a key ingredient
for agent retention. In an effort to retain solid performers, progressive companies offer a clear
career path and proactively support the leadership development of their top salespeople. To be
effective, a sales incentive program should not only appeal to top producers, but it must also
excite average to below average salespeople as well.
Sonia Chan (Oct 2009)In an interview, Ritchie Bent, Group Head of Human Resources at the
Jardine Matheson Group, discussed how he retains and develops talent in the conglomerate's
diverse mix of companies. Bent works with a team of specialists who specialize in three core
areas -- leadership development, selection & evaluation, and compensation & benefits -- but
from a strategic perspective. They help to develop the macro retention plan of each of the
Group's companies. The various training and development programs they offer are an important
part of the strategy. The fact that there are opportunities to move to other companies within the
Group is also very attractive. On top of that, Jardine has fairly strong values which most people
admire. Through the Mindset program, they focus on their funds on philanthropic activities
relating to mental health, given that this subject has not received sufficient concern in Asia.
O.C. Ferrel (2009) proposed that Organizational ethics is one of the most important, yet perhaps
one of the most overlooked and misunderstood concepts in corporate America and schools of
business. Organizational ethics initiatives have not been effectively implemented by many
corporations, and there is still much debate concerning the usefulness of such initiatives in
preventing ethical and legal misconduct. Simultaneously, business schools are attempting to
teach courses and/or integrate organizational ethics into their curricula without general
agreement about what should be taught, or how it should be taught.
Walter G Tymon Jr, Stephen A Stumpf, Jonathan P Doh. Journal of World Business.
Greenwich Apr (2010) stated that the challenge of global talent management is critical to firm
success. Even with the global economic slowdown of 2008 and 2009, there are continuing
challenges in attracting, managing, and retaining talent, especially in the developing regions of
the world where economic activity has outpaced the availability of skilled employees. To
52
examine this situation, we develop and test a model of talent management across 28 Indian firms
involving 4811 professional-level employees. The intrinsic rewards experienced are a critical
element in employee retention, satisfaction with the organization, and career success. We
explored four antecedents of intrinsic rewards: the social responsibility of the employer, pride in
the organization, manager support, and performance management (PM). We found support for
the importance of intrinsic rewards as a mediating variable, as well as for the moderating role of
certain hygiene factors.
53
John Boe. The American Salesman. Burlington: Mar (2010) proposed Excessive personnel
turnover is not only unhealthy for the morale of a sales force, but it is also costly in terms of time
and money. Perhaps less obvious, but just as detrimental, is the negative impact excessive turnover
has on eroding customer confidence and loyalty. Retaining successful salespeople is not a secret
recipe, but a formula that includes factors such as leadership, recruitment, training, and professional
growth opportunities. While the skills required to be an effective salesperson are fundamentally
important, they are not always a reliable indicator of leadership potential. Training is critically
important for both the new and seasoned agent alike and is a key ingredient for agent retention. In
an effort to retain solid performers, progressive companies offer a clear career path and proactively
support the leadership development of their top salespeople. To be effective, a sales incentive
program should not only appeal to top producers, but it must also
Gregory A. Aarons and Angelina C. Sawitzky: Mar (2010) stated that staff turnover in mental
health service organizations is an ongoing problem with implications for staff morale, productivity,
organizational effectiveness, and implementation of innovation. Recent studies in public sector
services have examined the impact of organizational culture and climate on work attitudes (i.e., job
satisfaction and organizational commitment) and, ultimately, staff turnover. However, mediational
models of the impact of culture and climate on work attitudes have not been examined.
Y. Yahyagil (2010) proposed that the purpose of this paper is to clarify the nature of the complex
interrelations between organizational culture and climate. In terms of the basic assumptions, values
and beliefs, it is the culture of an organization which dictates the expected employee behavior
permits to form a compatible work environment, namely, the organizational climate. The key point
is that these two concepts exist in work settings, and they are not mutually exclusive.
SallyHass, Steve Vernon(2010)Many workplace veterans yearn for more work-life balance. They
have valuable knowledge and contacts, and are still engaged and productive -- and will be for years
to come. They're not ready for retirement (even if they could afford it). For many employers, trying
to stay competitive during the downturn has meant a sharper focus on cost cutting. Wages, benefits
or other employee perks have not been enhanced. Preservation of talent and human
capital management have not been on the critical list -- or on any list. employers create a much
more gradual transition to the current abrupt retirement event, for a host of good reasons. The
article is about creating an extended period in seasoned
54 workers lives where the employer benefits
http://proquest.umi.com/pqdweb?
did=1899170891&sid=2&Fmt=2&clientId=129893&RQT=309&VName=PQD
http://www.indianmba.com/Faculty_Column/FC372/fc372.html
http://humanresources.about.com/od/retention/a/more_retention_2.htm
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Barron, P.E. (2002), "Providing a more successful education experience for Asian
hospitality management students studying in Australia: a focus on teaching and learning
styles", Journal of Teaching in Travel and Tourism, Vol. 2 No.2, pp.63-88.
Barron, P.E., Anastasiadou, C. (2007), Student Part-Time Employment: Implications,
Challenges and Opportunities for Higher Education, paper presented at 25th EuroCHRIE
Conference, Leeds, UK, 25th to 27th October 2007, .
Barron, P.E., Maxwell, G.A. (1993), "Hospitality management students' image of the
hospitality industry", International Journal of Contemporary Hospitality Management,
Vol. 5 No.5, pp.5-8.
Barron, P.E., Maxwell, G.A., Broadbridge, A., Ogden, S. (2007), "The experiences,
perceptions and expectations of careers in the hospitality industry: views from generation
Y", The Journal of Hospitality and Tourism Management, Vol. 14 No.2, pp.119-28.
Baum, T. (2002), "Skills training in the hospitality sector: a review of issues", Journal of
Vocational Education & Training, Vol. 54 No.3, pp.343-63.
Berger, L., Berger, D. (2003), The Talent Management Handbook, McGraw Hill,
Cleveland, OH.
Bournois, F. (1993), in Brewster, C., Hegewisch, A., Lockhart, J.T., Holden, L. (Eds),
The European Human Resource Management Guide, Academic Press, London.
Walter G Tymon Jr, Stephen A Stumpf, Jonathan P Doh, Apr (2010), Exploring talent
management in India: The neglected role of intrinsic rewards, Journal of World
Business Greenwich, Vol. 45, Iss. 2; pg. 109.
IOMA's Report on Compensation & Benefits for Law Offices. New York Dec (2009),
Support and Engagement are the Keys to Retention Vol. 09, Iss. 12; pg. 7, 1 pgs.
55
John Boe, (2010), Retention is a Problem That Won't Go Away, Journal of World
Business Greenwich, Vol. 55, Iss. 3; pg. 8, 4 pgs.
Clayton Glen, Sep (2006), the truth about turnover and retention, journal of Industrial
and Commercial Training Guilsborough, Vol. 86, iss. 9; pg. 1, 5 pgs.
Sarah Dobson, Sep 21(2009), Biggest challenge on road to recovery: Retention,
Journal of Compensation & Benefits for Law Offices, Vol. 22, Iss. 16; pg. 1, 2 pgs
O.C. Ferrel, Feb, (2009), The hypothesized effects of ability in the turnover process,
Journal of Academy of Management Review, Vol. 8, pg. 46-49.
Y. Yahyagil, Nov. (2010), Human resource managements role in the future aging of the
Workforce, Journal of Review of Public Personnel Administration, Vol. 15 (2), pg. 5-17.
Gregory A. Aarons and Angelina C Sawitzky, Jan (2010), A meta-analysis of
antecedents and correlates of employee turnover: Update, moderator tests, and research
implications for the next millennium, Journal of Management, Vol. 26, pg. 463-488.
ALI, Jul (2001), Managing Employee Retention: The Role of Organizational Culture
and Attitudes of Supervisor on Turnover Intensions, Journal of Applied Psychology, Vol.
80, pg. 335-349.
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%2007/AshiqueAlipaper02pdf.pdf
Griffeth, R.W., Steel, R.P., Allen, D.G., & Bryan, N, Jan (2005), The development of a
multidimensional measure of job market cognitions, The Employment Opportunity Index
(EOI), Journal of Applied Psychology, Vol. 90, pg. 335-349.
Broadbridge, A.M., Maxwell, G.A., Ogden, S.M. (2007), "Students' view of retail
employment key findings from generation Ys", International Journal of Retail &
Distribution Management, Vol. 35 No.12, pg. 982-92.
Chambers, E.G., Foulton, M., Handfield-Jones, H., Hankin, S.M., Michaels, E.G. (1998),
"The war for talent", The McKinsey Quarterly, Vol. 3 pg. .44-57.
Chartered Institute of Personnel and Development (2007), Talent Management: Research
Insight, CIPD, London, .
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a comparative study of Australia and Singapore", International Journal of Human
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Resource Management, Vol. 9 No.1, pp.136-54.
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No.2, pp.129-37.
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Employee Relations, Vol. 23 No.1, pp.38-54.
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D'Annunzio-Green, N., Maxwell, G.A., Watson, S. (Eds),Human Resource Management:
International Perspectives in Hospitality and Tourism, Continuum, London, .
Downing, K. (2006), "Next generation: what leaders need to know about the millennials",
Leadership in Action, Vol. 26 No.3, pp.3-6.
Earle, H.A. (2003), "Building a workplace of choice: using the work environment to
attract and retain top talent", Journal of Facilities Management, Vol. 2 No.3, pp.244-57.
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70 No.4, pp.4-15.
CHAPTER 7
57
APPENDIX
QUESTIONNAIRE
This questionnaire is intended to know the employers effort towards the retention policies
provided by the organization and the extent to which these retention policies are effective here,
which is a part of my academic project. Thank You
Q.1 Does your organization have any specific talent management initiatives in place?
Yes No
Q.2 Are talent management initiatives a top priority for your organization?
Yes No
Q.3 How does your organization identify talent?
By competencies
By Results
By potential
Q.4 What are the areas your organization needs to improve in terms of talent management
initiatives?
Aligning employees with the mission and the vision of the organization
Assessing candidates skills earlier in the hiring process
Creating a culture that makes employees want to stay with the organization
58
Creating a culture that makes individuals want to join the organization
Creating a culture that values employees work
Creating an environment where employees are excited to come to work each day
Creating an environment where employees ideas are listed to and valued
Creating policies that encourage career growth and development opportunities
Identifying gaps in current employees and candidate competency levels
Q.5 What is primary responsibility your organization?
Recruiting individuals
Further developing employees
Retaining employees
Q.6 Does your organization have a staff member whose position is exclusively responsible for
overseeing talent management initiatives?
Yes, at the management executive level
No
Q.7 What are your talent retention initiatives?
Acquiring new talents
Leveraging existing talents
Retaining the current talent
Q. 8 Which broadly job description are the most critical in terms of attracting and retaining
employees?
Very not
Particulars critical critical
1 2 3 4 5
Sales
Marketing
Business development
Finance
Field operations
Research and development
59
Innovation
Business unit leadership
Senior management
Programme management
Q. 9 Within your organization what kinds of talent management activities are carried out?
Building classroom workshops

Coaching
Mentoring
Education
Development experience
Short term assignments
Action learning
Others
Q.10 To what extent do you agree or disagree with the following statements? (Tick 1 per
statement)
Strongly strongly
agree agree Neutral Disagree Disagree
Aligning employees with
the mission and vision of
your organization
Assessing candidates skills
earlier in the hiring process
Creating a culture that makes
employees want to stay in the
organization
Creating a culture that makes
individuals want to join the
organization
Creating a culture that values
employees work
Creating an environment where
employees are excited to come
60
to work each day
Creating an environment where
employees ideas are listened to
and valued
Creating policies that encourage
career growth and development
opportunities
Identifying gaps in current
employees and candidate
competency levels
Identifying vacancies that will
be created as the company
advances and expands
Rewarding top performance
employees
Q.11 In the next three years how effective will the following elements of compensation be in
terms of attracting and retaining top performers?
disagr neutr agre
Particulars strongly disagree ee al e strongly agree
Base pay
Health care benefits
Retirement / education benefits
Share options / equity
participation
Child care costs/ arrangements
Job security
Q.12 Excluding financial compensation which of the following do you believe are your
organizations most effective means of rewarding motivating and retaining talent?
Providing talent
Working with employees to develop individual career path
Providing mentoring and fast track advancement opportunities
Providing a collaborative working environment
Providing the opportunity to work with the leading edge technologies
Funding educational needs
Encouraging risk taking and innovation
Maintaining the reputation of the organization
Q.13 How accurately the following statements describe action taken, or soon to be taken by your
organization?
Strongly agree neutral disagree strongly
Agree disagree
61
We acquire companies to
Obtain talent
We move processes
operations offshore to
access talent
we increasingly require
non complete agreements
from staff
we use certification to enhance
the value of our training and
development offerings.
We partner with universities/
Consultancies to execute
Internal training
We have moved processes/
Operations offshore to reduce
Costs
Q.14 How do you expect your budget for recruiting, developing and retaining employees to
change over the next three years?
Decrease
Increase
No change
Organization ........................................................
Name ........................................................
Designation ........................................................
Thanks for your cooperation.
62
QUESTIONNAIRE
Dear Respondent,
I am a student of MBA , I want to get some information for the fulfilment of
my academic report. I assure you that the data being filled by you will remain confidential. This
is only for my project purpose. Thank You
Q.1 How long have you been working for the company?
Less than a year 1-2 years
2-5 years 5-10 years
More than 10 years
Q.2 Have you been aware of the policies and procedures? Do you know and understand them?
know and
Particulars Not at all aware of this Aware of this but understand this
need more
information
The organization mission statement
The structure of the company
The aims of the company
Our health and safety procedures
Our equal opportunity policy
Professional association
membership
Policy on handling any legal
problem
Policy of handling customer
problems
Staff disciplinary procedures
63
Policy on holiday entitlement
Policy on absence
Policy on maternity/paternity leave
Organization car policy
Organization travel to work policy
Policy on expenses
Performance payments
Q.3 Do you know how can you help the organization to achieve its aims?
Yes, I feel quite clear about this

I think so, but would like to discuss it further
No, I am not at all clear about this
Q. 4 What do you know about your job, would you like to know more about?
know need to
Particulars enough know little know
need to learn
about this more lot more
Your position in the organization
Management- whom you are responsible
People you are indirectly responsible for
Yours hours of work
Your pay
Other benefits you are entitled to
The telephone system
The organization computer systems
The staff canteen
The managing director or CEO
The shop floor sales staff
The organization director
The team you work within
The machinery you will operate
Q.5 Please rate your satisfaction with employee benefits and policies
Extremel Dissatis Neutr Satisfi Extrem

Particulars y fied al ed ely
dissatisfi Satisfie
ed d
Accuracy of job
64
description
Salary review
Adequate information
provided about any
Job changes/promotion
Leave of absence
Retirement benefits
Q.6 In the next three years how effective will the following elements of compensation be in
terms of attracting and retaining top performers?
Particulars most least

effective effective
(1) 2 3 4 (5)
Base pay
Retirement/education benefits
Share options/equity participation
Childcare costs/arrangements
Job security
Q.7 Excluding financial compensation which of the following do you believe are your
organizations most effective means of motivating and retaining talent?
Providing training
Working with employees to develop individual career path
Providing mentoring and fast track advancement opportunities
Providing a collaborative working environment
Providing the opportunity to work with the leading edge technologies
Funding educational needs
Encouraging risk taking and innovation
Maintaining the reputation of the organization
Providing international opportunities
Q.8 Would you benefit training in any of the items specified in your job description?
Yes No
Q.9 Please rate your satisfaction with the salary and benefits package you receive?
65
Extremel Dissatisfi Neutr Satisfi Extreme
Particulars y ed al ed ly
dissatisfi Satisfie
ed d
Medical insurance package
Company saving plan
Retirement plan
Holiday entitlement
Share option plan
Company car
Q.10 Overall, how satisfied are you with your companys personnel policies?
Extremely dissatisfied Very dissatisfied

Neither satisfied nor satisfied Very satisfied
Extremely satisfied
Q.11Overall, how satisfied are you with this company as a place to work compared to other
places you have worked?
Extremely dissatisfied Very dissatisfied

Neither satisfied nor satisfied Very satisfied
Extremely satisfied
Organization ...................................................
Name ....................................................
Designation .....................................................
66

Retention MGT

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IMPACT OF TALENT MANAGEMENT STRATEGIES ON

EMPLOYEE RETENTION- A STUDY OF TEXTILE INDUSTRY

Submitted to Lovely Professional University

In partial fulfillment of the requirements for the award of degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted by: Supervisor:

Group No-R121 Ms. Gurneet Virk

Sadhvi Bahri R1802A15 Lecturer

Karuna Gupta R1802A28

Ritika Jindal R1802B32

LOVELY PROFESSIONAL UNIVERSITY

This is to certify that the project report titled _________________________________

(Name & Signature of the Faculty Advisor)

This is to certify that the project report titled _________________________________

(Name & Signature of the Faculty Advisor)

This is to certify that the project report titled _________________________________

(Name & Signature of the Faculty Advisor)

This is to certify that the project report titled _________________________________

(Name & Signature of the Faculty Advisor)

I, "_______________________________, hereby declare that the work presented herein is

I, "_______________________________, hereby declare that the work presented herein is

1) A. INTRODUCTION TO PROJECT 1-16

2) REVIEW OF LITERATURE 29-36

3) 3.1) OBJECTIVES OF STUDY 37

NUMBER PARTICULAR PAGE NUMBER

NUMBER PARTICULAR PAGE NUMBER

1.1 TALENT DRIVES PERFORMANCE

THE TALENT AGE

The New HR Mission and Talent Management Processes

Many challenging workforce issues confront HR, including:

Heightened competition for skilled workers.

Low levels of employee engagement.

Acknowledgement of the high cost of turnover.

Arduous demands of managing global workforces.

Importance of succession planning.

Off-shoring and outsourcing trends.

Taleos graphical representation emphasizes the mandate of talent management to respond to

1.2 WHY TALENT MANAGEMENT?

Though it may seem intuitive, it is worthwhile to articulate the fundamental significance of

The key enabler of any organization is talent.

The quality of our people is our last true competitive differentiator.

Talent drives performance.

1.3 SEGMENTS OF TALENT MANAGEMENT

1.5 TALENT STRATEGY

Talent management is a complex discipline, encompassing a wide array of programs and

Consistent execution and integration of talent practices continues to fall short

1.6 WORKFORCE PLANNING AND TALENT ACQUISITION

Employee Retention involves taking measures to encourage employees to remain in the

IMPORTANCE OF EMPLOYEE RETENTION

1.8 FACTORS IMPACTING TALENT ACQUISITION AND RETENTION

1.9 WHY TO MANAGE TALENT

1.10 WHAT NEEDS TO BE DONE?

b. Transformational strategies that impact retention in good measure encompass

1.11 EMPLOYEE RETENTION THROUGH TALENT MANAGEMENT -

Chairman & MD : Mr Ashok Oswal

1. Vardhman Polytex Ltd.

3. Oswal Retail Pvt. Ltd.

4. AM Kryon International Pvt. Ltd.

Wide network of Exclusive Brand Outlets.

PARTNERSHIP WITH SMC GLOBAL, BENETT COLEMAN & HT MEDIA

1.14 JCT LIMITED: AN OVERVIEW

JCT PHAGWARA COMPLEX

1.15 ABOUT VARDHMAN GROUP