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CHAPTER-I INTRODUCTION
NEED FOR THE STUDY
OBJECTIVES OF THE STUDY
SCOPE OF THE STUDY
METHODOLOGY
LIMITATIONS
CHAPTER-II LITERATURE REVIEW
CHAPTER-IV CONCLUSION
CHAPTER-V BIBLIOGRAPHY
QUESTIONNAIRE
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Introduction on 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 he’s doing, he may switch over to
some other more suitable job.
In today’s 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.
A. Compensation
B. Growth
C. Support
D. Relationship
E. Environment
A. Compensation
Compensation constitutes the largest part of the employee retention process. The
employees always have high expectations regarding their compensation packages.
Compensation packages vary from industry to industry. So an attractive compensation
package plays a critical role in retaining the employees.
Compensation includes
salary and wages, bonuses, benefits, prerequisites, stock options, vacations, etc. While
setting up the packages, the following components should be kept in mind:
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Salary and monthly wage: It is the biggest component of the compensation package. It
is also the most common factor of comparison among employees. It includes
Basic wage
B.Growth
Growth and development are the integral part of every individual’s career. If an
employee can not foresee his path of career development in his current
organization, there are chances that he’ll leave the organization as soon as he gets
an opportunity.
Work profile: The work profile on which the employee is working should be in
sync with his capabilities. The profile should not be too low or too high.
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Communications skills
Technical skills
In-house processes and procedures improvement related skills
C or customer satisfaction related skills
Special project related skills
Need for such training can be recognized from individual performance reviews,
individual meetings, employee satisfaction surveys and by being in constant touch
with the employees.
C. Support
Lack of support from management can sometimes serve as a reason for Employee
retention. Supervisor should support his subordinates in a way so that each one of them is
a success. Management should try to focus on its employees and support them not only in
their difficult times at work but also through the times of personal crisis. Management
can support employees by providing them recognition and appreciation.
Employers can also provide valuable feedback to employees and make them feel valued
to the organization.
The feedback from supervisor helps the employee to feel more responsible, confident and
empowered. Top management can also support its employees in their personal crisis by
providing personal loans during emergencies, childcare services, employee assistance
programs, counseling services.
Employers can also support their employees by creating an environment of trust and
inculcating the organizational values into employees. Thus employers can support their
employees in a number of ways as follows:
By providing feedback
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By giving recognition and rewards
By counseling them
D.Relationship
Sometimes the relationship with the management and the peers becomes the reason for an
employee to leave the organization. The management is sometimes not able to provide an
employee a supportive work culture and environment in terms of personal or professional
relationships. There are times when an employee starts feeling bitterness towards the
management or peers. This bitterness could be due to many reasons. This decreases
employee’s interest and he becomes de-motivated. It leads to less satisfaction and
eventually attrition.
A supportive work culture helps grow employee professionally and boosts employee
satisfaction. To enhance good professional relationships at work, the management should
keep the following points in mind.
Respect for the individual: Respect for the individual is the must in the
organization.
Relationship with the immediate manager: A manger plays the role of a mentor
and a coach. He designs ands plans work for each employee. It is his duty to
involve the employee in the processes of the organization. So an organization
should hire managers who can make and maintain good relations with their
subordinates.
Relationship with colleagues: Promote team work, not only among teams but in
different departments as well. This will induce competition as well as improve the
relationships among colleagues.
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dissatisfied. Employees should know what the organization expects from them
and what their expectation from the organization is. Deliver what is promised.
Promote an employee based culture: The employee should know that the
organization is there to support him at the time of need. Show them that the
organization cares and he’ll show the same for the organization. An employee
based culture may include decision making authority, availability of resources,
open door policy, etc.
Individual development: Taking proper care of employees includes
acknowledgement to the employee’s dreams and personal goals. Create
opportunities for their career growth by providing mentorship programs,
certifications, educational courses, etc.
Induce loyalty: Organizations should be loyal as well as they should promote
loyalty in the employees too. Try to make the current employees stay instead of
recruiting new ones.
E. Environment
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Culture
Values
Company reputation
Quality of people in the organization
Employee development and career growth
Risk taking
Leading technologies
Trust
Lack or absence of such environment pushes employees to look for new opportunities.
The environment should be such that the employee feels connected to the organization in
every respect.
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NEED FOR THIS STUDY
Employers have a need to keep employees from leaving and going to work for other
companies. This is true because of the great costs associated with hiring and retraining
new employees. The best way to retain employees is by providing them with job
satisfaction and opportunities for advancement in their careers. The saying, food help is
hard to find, is even truer these days than ever before because the job market is becoming
increasingly tight.
Objectives
To study retention strategies used by organization to retain Employee Talent.
To study the compensation/reward structure of the organization provided to the
employees.
To study and Improve the level of employee satisfaction.
To study the development practices adopted the organization.
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METHODOLOGY
Source of data:
The study is based on both Primary data and Secondary data
Primary data:
Personal discussions were held with the following officials to elicit relevant information
for the purpose of the study.
Secondary data:
Secondary data was sometimes collected from more than one source.
The secondary data is collected from the official records of the company, through
journals, websites etc.,
Sample Size:
Sample size is 100
LIMITATIONS
1. Study is mainly based on corporate data it may not full fill the need.
3. Short duration of the study, the data presentation may not give the true picture.
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CHAPTER-III
COMPANY PROFILE
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Company Profile:
Big Bazaar is not just another hypermarket. It caters to every need of your family.
Where Big Bazaar scores over other stores is its value for money proposition for the
Indian customers.
Big Bazaar is a chain of hypermarket in India. As of June 2, 2012 there are 214 stores
across 90 cities and towns in India covering around 16 million sq.ft. of retail space.
Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters
offering a wide range of merchandise including fashion and apparels, food products,
general merchandise, furniture, electronics, books, fast food and leisure and
entertainment sections.
Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand
Factory, Pantaloons, eZONE, HomeTown, futurebazaar.com, KB's Fair Price to name
a few and is owned through a wholly owned subsidiary of Pantaloon Retail India
Limited(BSE: 523574 523574), that is listed on Indian stock exchanges.
History
Big Bazaar was launched in September, 2001 with the opening of its first four stores in
Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years,
there are now 161 Big Bazaar stores in 90 cities and towns across India. By September
2012 BIG BAZAAR will have two more stores in North east namely SILCHAR and
JORHAT in Assam.
Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of
Pantaloon Retail India. Though Big Bazaar was launched purely as a fashion format
including apparel, cosmetics, accessory and general merchandise, over the years Big
Bazaar has included a wide range of products and service offerings under their retail
chain. The current formats includes Big Bazaar, Food Bazaar, Electronic Bazaar and
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Furniture Bazaar. The inspiration behind this entire retail format was from Saravana
Stores, a local store in T. Nagar, Chennai
The stores are customized to provide the feel of mandis and melas [2] while offering the
modern retail features like Quality, Choice and Convenience. As the modern Indian
family's favorite retail store, Big Bazaar is popularly known as the "Indian Walmart".
On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar
has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the
earlier one: 'Isse Sasta Aur Accha Kahin Nahin'. [3]
Strategy
3-C Theory
According to Kishore Biyani's 3-C theory, Change and Confidence among the entire
population is leading to rise in Consumption, through better employment and income
[4]
which in turn is creating value to the agricultural products across the country. Big
Bazaar has divided India into three segments:
India one: Consuming class which includes upper middle and lower middle class (14%
of India's population).
India two: Serving class which includes people like drivers, household helps, office
peons, liftmen, washermen, etc. (55% of India's population) and
While Big Bazaar is targeted at the population across India one and India two
segments, Aadhaar Wholesale is aimed at reaching the population in India three
segment. With this, Future Group emerged as a retail destination for consumers across
all classes in the Indian society.
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Operations
Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city
centers as well as within shopping malls. These stores offer over 200,000 SKUs in a
wide range of categories led primarily by fashion and food products.
Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is
now present within every Big Bazaar as well as in independent locations. A typical Big
Bazaar is spread across around 50,000 square feet (4,600 m2) of retail space. While the
larger metropolises have Big Bazaar Family centres measuring between 75,000 square
feet (7,000 m2) and 160,000 square feet (15,000 m2), Big Bazaar Express stores in
smaller towns measure around 30,000 square feet (2,800 m2).
Big Bazaar has the facility to purchase products online through its official web page,
and offers free shipping on some of their products.[5]
Our Values
We acknowledge that every individual brings different perspectives and capabilities to the
team and that a strong team comes together with a variety of perspectives. What hold
them together are the core values that lay the foundation of this strength. Through the
entire chain of Future Group we identify these values with what is called The Future
Group Gene.
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Openness & Transparency: To be open and receptive to new ideas, knowledge
and information.
Valuing and Nurturing Relationships: To build long term relationships.
Simplicity & Positivity: Simplicity and positivity in our thought, business and
action.
Adaptability: To be flexible and adaptable, to meet challenges.
Flow: To respect and understand the universal laws of nature.
Culture
We work in an environment where the deadlines are tighter and the jubilations even more
exciting. We like to maintain this energy we've got going on, so we make sure to bring on
board exactly the right people. Everyone here has a range of amazing (and often hidden)
talents and creative interests.
President
Kashyap heads Future Bazaar. Prior to this, Kashyap founded Chaupaati Bazaar after
returning to India in Nov 2007. Chaupaati enabled Indian consumers to purchase
products and services by phone. In Sep 2010, Chaupaati merged into India's largest
retailer Future Group. Earlier, Kashyap started the US office of Geodesic (NSE: 503699)
in the capacity of VP, Business Development doing online affiliate sales in North
America and mobile OEM sales in Taiwan & China. Kashyap was an early employee at
Jasper Design Automation. Besides naming the company, he made contributions to the
sales campaigns for key customers and prospects in North America and Northern Europe.
While a final year student at IIT Bombay, Kashyap co-founded Righthalf, the first
campus start-up as part of the IIT Bombay Business Incubator. After a successful
acquisition of Righthalf by Stratify, he moved to the Silicon Valley in late 2000. Since
then, he has worked with high-tech startups doing sales, business development and
product management. Kashyap graduated from IIT Bombay in 2000 with a B. Tech.
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Computer Science and Engineering. Kashyap loves traveling, snowboarding, bungee
jumping and climbing mountains.
Gaurav Agarwal
Marketing
Gaurav heads marketing at Future Bazaar. As the head of marketing, Gaurav is in-charge
of online traffic, marketing affiliates and vendor program.
Gaurav has led many roles in early stage to growth phase startups often working in
companies with less than 30 employees. His last stint was with Amar Chitra Katha where
he created the New Media Division from scratch and grew the spread of ACK Comics to
all platforms. Prior to ACK, he has worked in the microfinance technology sector and
even attempted a startup in the complex event processing space.
Gaurav graduated from IIT Bombay in 2003 with an B. Tech and M. Tech. in Micro
Electronics.
The Big Bazaar is one such department store to have set up shop
across the country. Since its first outlet opened in Kolkata in late
2001, the Big Bazaar has spread to towns and cities at an alarming
the Big Bazaar isn't your ordinary department store. It's been
Big Bazaar With a slogan of "Is se sasta aur accha kahin nahi!" , the Big
Bazaar targets itself directly atthe average Indian's love of following the crowd
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Parent-Pantaloon Retail India Ltd
Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple
retail formats in both the value and lifestyle segment of the Indian consumer
market.
square feet of retail space, has over 1000 stores across 71 cities in India and
employsover30,00people.
chain, blends the look, touch and feel of Indian bazaars with aspects of modern
retail like choice, convenience and quality and Central, a chain of seamless
destination malls. Some of its other formats include Brand Factory, Blue Sky, all,
Top 10 and Star and Sitara. The company also operates an online portal,
futurebazaar.com.
segment.
Pantaloon Retail was recently awarded the International Retailer of the Year
2007 by the US-based National Retail Federation (NRF) and the Emerging Market
Retailer of the Year 2007 at the World Retail Congress held in Barcelona.
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Target Audience
Big Bazaar targets higher and upper middle class customers, the large and
specifically targets working women and home makers who are the primary
decision makers.
Product mix
Denims& t-shirts Fabrics& cut pieces Formal wear Casual wear Party wear
Ethnic wear Accessories Under garments Night wear Dress material Saris Staples
Ready to eat Ready to cook International food Spices Imported bazaar Tea&
coffee Fruits Vegetables Imported fruits Dairy products Soft drinks Packaged
juices Milk item Frozen foods Ice creams Shampoos Detergents Soaps Liquid
Pricing
pricing, Bundling.
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Place-store locations
early phase before the real estate value booms, and located at high traffic areas.
Promotion
BOARD OF DIRECTORS
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Kishore Biyani is the Managing Director of Pantaloon Retail (India) Limited and the
Mr.GopikishanBiyani,Wholetime Director
Gopikishan Biyani, is a commerce graduate and has more than twenty years of
Vijay Biyani has more than twenty years of experience in manufacturing, textiles
and retail industry and has been actively involved in the financial, audit and
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Employee Retention
For managers, nothing feels better than having a strong, successful,
strategy. In fact, hiring does not end when the candidate has accepted the
well developed strate gy will let you reduce recruitment through retaining
Obviously, you cannot hold onto all your best people, but you can
considerable time and resources to attain a staff that you are proud of – to
triumph. The intent of this whitepaper is to help you discover the importance
solutions.
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PEOPLE ARE VALUABLE
“Look after your people and the business will look after itself”.
Like an art collector who has spent time and research attaining that
Great Master’s work which embodies the talent, skills and training of the
artist, getting excellent staff requires the same passion. The collector protects
position as a manager of people you must do whatever you can to keep that
priceless individual who works hard for your company and generates strong
results.
in the process of using effective hiring tools to assemble what you believe to
be the best staff, with exceptional skills and who fit well into your
performers are often made a variety of offers before they settle on one career
position. But once they are working for you, they need reason and
motivation to remain.
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The old adage “Look after the small things and the big things look after
Your staff is more than employees. They are valuable individuals with
as a paycheck. In fact, people are the single most valuable element within
your organization.
through a recession.
These companies will emerge from the recession stronger and
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RECOGNIZING THE PROBLEM
Leadership Team. Getting and keeping good staff demands focused, formal
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The High Cost of Employee Turnover
The costs of high staff turnover can be incredible. Some of the substantial
costs that occur when a person leaves your organization include the
following:
1. Recruitment costs
2. Training costs
● Orientation materials and trainers’ time (ex. call center agents require on
first three months, not including the time spent by existing employees to
assist.
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Some common retention strategies:
• Encourage your workers to share their concerns with you and in turn
share your concerns with them. This fosters openness and trust
• When the recession is over you will need to replace these workers and
at what cost?
• Instead, shift these workers to other areas that are still performing
well.
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• Consider the corporate culture that this prospective employee or
• Doing so will ensure that not only will the employee/manager match
• In a nutshell, champion them and they will champion you and the
company.
• Your employees are your company's best asset and you must protect
people.
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• Let them know how valuable their contributions are to the company.
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CHAPTER - V
It is an astonishing skill to discover the new things for a researcher in his study. It calls
for the researcher’s own judgment and skill. Analysis means a critical examination of the
assembled and grouped data for studying the characteristics of the object studying and for
determining the patterns of relationship among the variables relating to it.
it is special king of ration. It is used in making comparison between two or more series of
data that are used to describe relationship. Moreover % can also be used to compare the
relative terms of the distribution of two or more series of data.
Percentage analysis
Actual Population
Simple Percentage = -------------------------- x 100
Sample Size
PERCENTAGE ANALYSIS
TABLE 1
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Table No.1 Shows the employee’s category distribution on the basis of gender
1. Male 58 58
2. Female 42 42
Total 100 100
Inference
The above table shows that 58% of the employees are belong to male category and the rest 42% are belongs
to female category..
Chart 1
Chart showing the number of respondents based on gender
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TABLE 2
Table No.2 Shows the age wise distribution of the employees
INFERENCE
The above table shows that majority of the employees i.e., 50% are attained the age 18-25 Years,
25% of the employees are attained the age 18-25 years and 25% of the employee are attained the age
between 36-45 years and there is no respondents in the age 46-55 and above 55years.
CHART 2
Chart showing age group of respondents
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TABLE 3
Table No. 3 Shows the experience of the employees
INFERENCE
The above table shows the experience of the employees i.e, 48% of the employees is below 1 Year, 35% of
the employee are between 1-3 years and 17% of the employees are between 4-6 Years, there is no
respondents in the 7-9 years and 10-12 years.
CHART 3
Chart Showing the experience of the respondents
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TABLE 4
Table No.4 Shows the income level of the employees
INFERENCE
The above table shows the income level of the employee i.e., 68% of the employees is Rs. 3001 –
4000, 15% of the employees are Rs. 6001 – 7000 and 12 % of the employees are Rs. 4001 – 5000, 5% of
the employees are Rs. 5001 – 6000.
CHART 4
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TABLE 5
INFERENCE
The above table shows employees satisfied with their salary and compensation i.e, 2% of the
employees said highly satisfied, 17% of the employees said satisfied and 20% of the employees are said
neutral and 43% of the employees said dissatisfied and 18% are highly dissatisfied.
CHART 5
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TABLE 6
Table No.6 Leave Benefits
INFERENCE
The above table shows employees leave benefits i.e, 12% of the employees said highly satisfied,
46% of the employees said satisfied and 33% of the employees are said neutral and 9% of the employees
said dissatisfied and 18% are highly dissatisfied.
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TABLE 7
INFERENCE
The above table shows employees Health related benefits i.e, 12% of the employees said highly
satisfied, 39% of the employees said satisfied and 35% of the employees are said neutral and 14% of the
employees said dissatisfied and 18% are highly dissatisfied.
CHART 7
Chart showing about the health related benefits
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TABLE 8
Table No. 8 Long term care insurance
INFERENCE
The above table shows employees Long term care insurance i.e, 12% of the employees said highly
satisfied, 64% of the employees said satisfied and 13% of the employees are said neutral and 11% of the
employees said dissatisfied.
CHART 8
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FINDINGS
1. Most of the customers buy their requirement in Big Bazaar on the basis of Weekly
and monthly basis. Customers realized that Big Bazaar stores provide qualitative
2. At present time Big Bazaar provide different types of product assortments to the
customers.
quantities of the customers & profit show that Big Bazaar most accepted name in
4. Big Bazaar mainly deal with middle income group people who want qualitative
7. Big bazaar holds a huge customer base. The majority of customers belong to middle
class family.
8. Impulse buying behavior of customers comes in to play most of the times in big bazaar.
9. There are more than 50 big bazaars in different cities of India, it seems that there is a
vast growth of big bazaar lying as customers demand is increasing for big bazaars.
10. Big bazaar is a hypermarket as it provides various kinds of goods like apparels,
grocery, stationary, food items, electronic items, leather items, watches, jewellery,
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crockery, decorative items, sport items, chocolates and many more. It competes with
all the specialty stores of different products which provide goods at a discounted rate
11. The major players in retail industries are Big bazaar, The Tata Groups (Croma),
Vishal Retail Group, Reliance Retail, Kirana stores & Sabka Bazaar etc.
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SUGGESTIONS
Big bazaar should include more of branded products its product category so as to
Big bazaar should provide large parking space for its customers so that they can
It should make different cash counters for different customers. Cash counter and
credit card payment counter should be placed differently in order to reduce the
rush and save the customer’s time. This will be a kind of motivator for the
The service of the sales person is needed to be improved. Personal care should be
taken by the sales person for the customers so that the customers feel good.
During the off peak hour’s big bazaar should provide some offers to its customers
so that people would be encouraged to come to big bazaar during off peak hours.
The customers who are present in the mall during the off peak hours of big bazaar
will definitely go in to big bazaar if surprise offers are made at that time.
and queries. The person sitting at the help desk of big bazaar should be able to
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CONCLUSION:
Retention programs often fail because managers do not know and, therefore, do not act
on themost important areas affecting and employee’s intention to leave. Across the
organizations, individual development and career advancement stand out as both frequent
and critical key drivers of any employee’s intent to leave.
While the general conclusions across organizations may appear similar,at more micro
level, the composition and ordering of specific retention key drivers is unique to each
company. In addition, the meaning attached to specific drivers and, therefore, the actions
to be taken may vary by organization.
Employers who are able to minimize their employee turnover during the recession
period are going to emerge from it stronger and healthier than those companies
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In fact, many of the retention strategies mentioned above cost little or no money
to implement and require nothing more than carefully planned time dedicated to
long-term goals. Companies must realize that by keeping their turnover levels
from the start of any recruiting program. The process should be conscious of the
end goal:
To keep the individuals who outperform in your company.
Making the new employee aware that the intention is to keep them as long
as possible.
Encourages the employee in committing to long-term goals and planning
This study will help in evaluating employee retention program to ensure that our
organization has the best possible practices in place to reduce costly turnover. To partner
with a forward thinking organization who will deliver quantifiable results to your
retention problem and, ultimately, your bottom line, these strategies can help a lot.
QUESTIONNAIRE
Name:
Designation: Qualification:
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Career advancement opportunities
Challenging work
Salary
Employee benefits
Less travel
Supervision/management
Other _________________________
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BIBLIOGRAPHY
Books:
► Kotler Philip, marketing management, (Pearson education, 12th edition)
► Berman B and Evans J.R, Retail Management (Pearson education, 10th edition)
► Louden D.L. & bitta delia consumer behavior ( tata Mc. Graw hill, 4th edition )
Websites:
www.bigbazaar.com
http://www.citehr.com/48275-executive-summary-n-conclusion-employee-retention-2.html#post222921
Retention review- From Wikipedia
http://en.wikipedia.org/wiki/employee retention
http://www.cs.ny.gov/successionplanning/workgroups/Retention/employeeretentionreport.pdf
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