Introduction

India leads the pack of top real estate investment markets in Asia for
2016, according to a study by PricewaterhouseCoopers (PWC) and Urban
Land Institute, a global non-profit education and research institute,
released in December 2015. The report, which provides an outlook on
Asia-Pacific real estate investment and development trends, points out
that India, in particular Mumbai and Delhi, are good real estate
investment destinations. Residential properties are viewed as more
promising than other sectors. While, Mumbai, Delhi and Bangalore top
the pack in the hotel 'buy' prospects as well.

The study is based on the opinions of over 270 international real

estate professionals, including investors, developers, property company
representatives, lenders, brokers and consultants.

Retention is defined as the continuous process through which

employees are encouraged to remain with an organization for a
maximum period of time. People tend to leave organisations for a variety
of reasons. I have explained those reasons and solutions for employee’s
dissatisfaction.

There are some strategies which Unicon is using for retaining to

the employee’s.
These strategies are going very successfully in this company. Employees
are satisfied with these strategies and making profit for company.
I have used some techniques for employee retention and made
some strategies for employee retention. There are some objectives and
scope of employee retention. On the basis of these objectives company try
to retain employees for longer period of time.

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 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 problem 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 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.

BASIC CONCEPT OF TOPIC

Reasons for leaving organizations:

People tend to leave organizations for a variety of reasons. The most

common amongst them are:

•Job and person mismatch –

If there is a selection fault that has occurred – and if the job and
the person are not matching to each other, then it is likely the candidate
will leave the organization. The expectations problem could be on either
side – the candidate as well as the organization. This problem could also
come from there being a mismatch in terms of experience and
qualifications of the person and the job analysis

•No growth opportunities –

Some organizations do not grow at the rate they are expected to
grow – neither do they go downwards. People who like to function in
challenging environments and are more effective in companies which
offer them rapid growth opportunities, tend to leave companies which are

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slow-growing. Also, some organizations do not enhance skills of people
through good training programs. People actually like to develop
themselves and if they are not provided opportunities to do so, they
might leave.

•Lack of appreciation –
If the feedback system of the organization does not allow
appreciation of work, or commendations, people tend to get frustrated
with the company. By nature, a human being wants to hear good things
about himself. When he knows that he is performing well, but does not
get timely appreciation from the company, he looks out for other
opportunities.

•Lack of trust and support –

If the culture of the company is not transparent, and the

management lacks trust in employees, and does not support its people,
then people look out for other opportunities. When people give their full
efforts to a company, they expect that the company should also trust
them and support them wherever required. If that does not happen,
people start thinking negatively about the company.

•Work life imbalance –

If the company does not encourage a positive balance between

personal and professional life of the employee, people will not be happy.

•Personal issues –
There could be personal issues for people leaving a company,
especially for women – relocation of spouse, childbirth, emergency in the
family requiring their presence at home etc. Once women move away

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from mainstream work-life, it becomes difficult for them to come back
into it.

•Compensation –
The last but not the least – salary and compensation can be a
factor for leaving an organization – if a person thinks he is not paid
enough by the organization, he will look out for another job with higher
salary

Retention myths:
There are some myths associated with retention. Some of them are:
•Employees leave for pay
•Employees are not interested in additional responsibilities
•Adopting retention measures is expensive

Actually, in reality, companies leave for many other reasons than pay.
Salary at times, takes a backseat, if other things in an organization are
good. Employees are also keen to take on additional responsibilities, as
it shows that the company has confidence in them and considers them
capable of handling more work and responsibilities. This actually builds
self-confidence in an employee.
Retention measures are more of an investment than expenditure as
doing more things for employees will ensure that employees will give
more back in terms of productivity. It depends on how the organization
views it.

Techniques of Retention?
As retention measures, organizations can utilize some of the following
things – in combination or isolation:

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Growth and career:

•Role clarity –
Ensure that the organizations an employee, both, are clear about
the role, so that there is no mismatch.

•Work profile in sync with capabilities –

Avoiding taking people who are not suitable qualified or
experienced – over qualified / over experienced people will get frustrated
and under qualified / under experienced people will not perform
according to expectations

•Clearly laid out growth paths –

The organization needs to define the growth paths of people
carefully, so that people know how they can progress in the company.
Along with this, the decision-making authority and the scope of the
assignment (amount of responsibility) should also increase.

•Timely feedback and recognition –

A system that encourages timely feedback and recognition to work
well done.

•Training and development opportunities –

People are interested in developing themselves and their skills
through training. Companies should provide enough scope for people to
do so.

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STRATEGIES OF UNICON REAL ESTATE FOR EMPLOYEE
RETENTION:
Unicon is using many strategies for satisfaction of employee’s.
Those are as follows:
Monthly spot incentives:
Organization gives monthly target to each employee. When
employees complete their target within given period of time then
company will pay incentives to them.
Pattern of spot incentives in Unicon real estate is like this:
Monthly target- Rs.3lakhs
Spot incentives- Rs.9000/- (3*3=9)

Performance appraisal:
Performance is appraised by after six month in a year. Appraisal is
given to those employees who have completed their target of each month.
It is given after checking performance of employee there is no any
partiality in giving appraisal to employee.
Applicable employees got appraisal according to their performance.
Employees got more salary or post in appraisal.

Training and Development:

Training is a short-term educational process to improve, change
and mould employees’ KSA, which are required for the job and
organization.
Training is given to people to see some kind of change in them – like
technical, skill-wise, or behavioral. It equips people to take on larger
responsibilities and more work.
This program is given to employees two times in month. Its helps
employee’s to enhance performance and achieve their monthly targets.

Timely feedback:

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 Timely feedback leads towards the achievement of target. It helps
employees to correct their mistakes or to change the path of target.
Feedback should be according to performance of employees, partiality
leads to dissatisfaction. Unicon gives timely feedback according to work
without any partiality.

Compensation and Salary:

Organization is providing compensation and salary according to
employees work and work experiences. Compensation and Salary
increase according to appraisal system.

Relationships and support:

•Respect for individual and work.

•Relation with peers and superiors
•Employee-oriented culture fostering loyalty
•Trust and transparent communication

These things basically talk about the culture in the company. An

organization needs to make conscious efforts to build an open and
transparent culture that fosters or encourages loyalty. Communication, if
is open, will help in this. Policies need to be employee friendly, and along
with that, they should be framed keeping in mind the employees. If the
organization fails to do this, it will be difficult to retain people.

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 Aims

The project was taken keeping the following aims and objective in mind.

 To study Employee retention as an whole.

 To study policies and practices companies use to prevent valuable
employees from leaving their jobs.
 To study retention techniques of the company to retain valuable
employees
 To find out a successful company where employers should
consider as many options as possible when it comes to retaining
employees
 To suggest suitable measures to improve the retention policies of
the organization.
 To identify the major areas of dissatisfaction if any, and provide

valuable suggestions improving the employees retention in

required areas.

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 Justification

This study will look at employee retention. A random sample of 50

people from varying occupations in non-management positions will be
surveyed to learn about their perceptions about job satisfaction as it
relates to employee retention.
Results will be collected; analyzed and descriptive data will be
presented. The study will include recommendations for better practices
aimed at identification of effective occupational strategies to aid in
retaining employees through job satisfaction.

The following are assumptions upon which this study is based:

1. Employee retention and job satisfaction are linked.
2. Identification of employee perceptions about job satisfaction will offer a
basis for
identifying recommendations for practice, this will contribute, to job
satisfaction.
3. The use of a questionnaire to determine employee satisfaction
perceptions will result in honest and useful feedback for purpose of
analysis.

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 Hypothesis
A Hypothesis consists either of a suggested explanation for an observable
phenomenon or of a reasoned proposal predicting a possible causal correlation
among multiple phenomena.
Hypothesis may be defined as a proposition or a set of proposition set
forth as an explanation for the occurrence of some specified group
of phenomenon either asserted merely as a provisional conjecture to guide
some investigation or accepted as highly probable in the light of established
facts.
Null Hypothesis
A null hypothesis is a hypothesis (within the context of statistical hypothesis
testing) that might be falsified on the basis of observed data. The null
hypothesis typically proposes a general or default position, such as that there is
no relationship between two quantities, or that there is no difference between a
treatment and the control. The Null Hypothesis is of this project report is that
employees are highly dissatisfied with the quality of work life in the company.
H01 - The Null Hypothesis is of this project report is that the retention
policies adopted by the company to retain their employees are not
effective.
ALTERNATE HYPOTHESIS
Alternative hypothesis is the "hypothesis that the restriction or set of
restrictions to be tested does NOT hold." (Often denoted H 1) . Synonym for
'maintained hypothesis.' The Alternate Hypothesis of this project report is that
employees are satisfied with the quality of work life in the company.
H1 - The alternate Hypothesis is of this project report is that the retention
policies adopted by the company to retain their employees are
effective.

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 Variables

Variable is an attribute of a persons or subject that various and takes

and different values.

Dependent Variable –

The dependent variable is the condition or the characteristics that

appear, disappear or changes on the researcher introduce source, or
changes independent variables.

The dependent variable was employee retention; its complement

being voluntary turnover rate, defined as a percent of the workforce who
leave their jobs or voluntarily retired in a given period.

Independent variable –

The independent variable is a consolation or characteristics that

researcher manipulate control is an attempt to ascertain the observed
phenomena’s.

The independent variables were common policies established by

the industry to retain their employees. In the present study the
independent variable was the retention polices followed by the company.

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 Scope

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, good help is
hard to find, is even truer these days than ever before because the job
market is becoming increasingly tight.
Employers are fighting to get talented employees in order to maintain a
prosperous business.
Researchers believe that, there is a straight line between employee
satisfaction and customer satisfaction. They believes that today’s
employees pose a complete new set of challenges, especially when
businesses are forced to confront one of the tightest labor markets in
decades. Therefore, it is getting more difficult to retain employees, as the
pool of talent is becoming more-and more tapped-out. The research
below, which focuses primarily on employee retention through job
satisfaction, supports this contention.
Employees that are satisfied and happy in with their jobs are more
dedicated to doing a good job and taking care of customers that sustain
the operation. Job satisfaction is something that working people seek
and a key element of employee retention.

Every person will have his or her own definition of what it means
to be satisfied with a job. Studies show that employees who are satisfied
with their jobs are more productive, creative and be more likely to be
retained by the company.

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 Research has shown that there may be many environmental
features that can be created and maintained to give employees job
satisfaction. Pay and benefits, communication, motivation, justice and
leisure time all seem to play a part as to whether employees are satisfied
with their jobs, according to studies.
The second goal of this research is to help readers find his or her
definition of job satisfaction. I believe that this compilation of data will
educate and inform the working masses to see the benefits of creating
workplaces that derive more job satisfaction, retaining employees and in
turn, keeping our economy healthy and our society happier.
There is a definite need to analyze the elements of employee
retention through job satisfaction. Considering the positive effects on the
economy that can be derived from satisfied-happy employees.
Promotional materials for presentation can be created, highlighting these
recommendations for employee satisfaction practices for both employers
and employees.

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 Layout (Chapterisation)

 Chapter I : Introduction
 Chapter II : Aims and Objectives
 Chapter III : Company Profile
 Chapter IV : Research Methodology
 Chapter V : Analysis of Data & Interpretation
 Chapter VI : Finding Suggestions
recommendation & Conclusion
 Chapter VII : Bibliography
: Annexures

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 Bibliography

• “Management Principles and Practice.”, - By Sharma R.K &

Gupta Shashi K Eighth Edition, Kalyani Publisher’s, New Delhi.

• “Management Techniques and Policy”, - By

Bhalla V.K First Edition,
Annual Publications, New Delhi.

• “Research Methodology-Methods & Techniques”, - By

Kothari C.R Second
Edition, Vishwa Prakashan Delhi (1990).

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 Conclusion

The process of employee retention is an ongoing one. Strategies need to be

implemented and refined as the organization requirements change.
Refinements may reflect changing expectations about market rates, changes to
the business environment, or changing international political conditions, for
example. In general, the process can be summarized as follows:
• Identify and prioritize key risks.
• Determine an appropriate level of tolerance.
• Implement strategy in accordance with retention policy.
• Measure, report, monitor, and refine as needed

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