INTRODUCTION

INTRODUCTION

Employee turnover is one of the largest though widely unknown costs an organization faces. While companies routinely keep track of various costs such as supplies and payroll, few take into consideration how much employee turnover will cost them: Ernst & Young estimates it costs approximately $120,000 to replace 10 professionals. According to research done by Sibson & Company, to recoup the cost of losing just one employee a fast food restaurant must sell 7,613 combo meals at $2.50 each. Employee turnover costs companies 30 to 50% of the annual salary of entry-level employees, 150% of middle-level employees, and up to 400% for upper level, specialized employees. Now that so much is being done by organizations to retain its employees. Why is retention so important? Is it just to reduce the turn over 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.

Retention involves five major things: Compensation Environment Growth Relationship Support

 Compensation: Compensation constitutes the largest part of the employee retention process. The employees always have high expectations regarding their compensation packages.

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 House rent allowance Dearness allowance City compensatory allowance

Health insurance: Health insurance is a great benefit to the employees. It saves employees money as well as gives them a peace of mind that they have somebody to take care of them in bad times. It also shows the employee that the organization cares about the employee and its family. After retirement: It includes payments that an Employee gets after he retires like EPF (Employee Provident Fund) etc. Miscellaneous compensation: It may include employee assistance programs (like psychological counselling, legal assistance etc), discounts on company products, use of a company cars, etc. Employers And Their Key Drivers To Attract And Retain Talent Employers Key Drives To Attract And Retain Talent
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Environment:

It is not about managing retention. It is about managing people. If an organization manages people well, employee retention will take care of itself. Organizations should focus on managing the work environment to make better use of the available human assets. People want to work for an organization which provides Appreciation for the work done Ample opportunities to grow A friendly and cooperative environment A feeling that the organization is second home to the employee Organization environment includes Culture Values Company reputation Quality of people in the organization Employee development and career growth Risk taking Leading technologies Trust

Types of environment the employee needs in an organization Learning environment: It includes continuous learning and improvement of the individual, certifications and provision for higher studies, etc.
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Support environment: Organization can provide support in the form of worklife balance. Work life balance includes:

Flexible hours Telecommuting Dependent care Alternate work schedules Vacations Wellness Work environment: It includes efficient managers, supportive co-workers, challenging work, involvement in decision-making, clarity of work and responsibilities, and recognition. 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. Growth and Career Growth and development are the integral part of every individuals career. If an employee can not foresee his path of career development in his current organization, there are chances that hell leave the organization as soon as he gets an opportunity. The important factors in employee growth that an employee looks for himself are: 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. Personal growth and dreams: Employees responsibilities in the organization should help him achieve his personal goals also. Organizations can not keep aside the individual goals of employees and foster organizations goals. Employees priority is to work for themselves and later on comes the
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organization. If hes not satisfied with his growth, hell not be able to contribute in organization growth. Training and development: Employees should be trained and given chance to improve and enhance their skills. Many employers fear that if the employees are well rained, theyll leave the organization for better jobs. Organization should not limit the resources on which organizations success depends. These trainings can be given toimprove many skills like: Communications skills Technical skills In-house processes and procedures improvement related skills or customer satisfaction related skills Special project related skills Importance of Relationship in Employee Retention Program 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 employees interest and he becomes demotivated. 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.
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Relationship with the immediate manager: A manger plays the role of a mentor and a coach. He designs and 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 Relationship among colleagues.

Recruit whole heartedly: An employee should be recruited if there is a proper place and duties for him to perform. Otherwise hell feel useless and will be dissatisfied.

Employees should know what the organization expects from them and what their expectation from the organization is. Deliver what is promised. Promote anemployee 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 hell 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 employees 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.
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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, conseling services, etc 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 By giving recognition and rewards By counseling them By providing emotional support

OBJECTIVE OF THE STUDY

OBJECTIVE OF THE STUDY

The main objective of doing this study was to understand the nature of work, employment, and labour relationships in service sector and its impact on workers. This effort aims at identifying and exploring the shared interests to counter the preexisting belief that employees (the human resource) and the human resource management bodies in both the developing and developed world are divided.

One of the biggest challenges companies are facing is the attraction and retention of good employees and top performers. The purpose of this project study was also to prove how employee retention is essential in this day and age, and if the organizations are not awake to the situation and immediate actions are not taken to that effect, what repercussions lay ahead and how they would affect the organization and the industry.

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SCOPE OF THE STUDY

SCOPE OF THE STUDY

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The scope of the study to know the employee retention in an organization / Service Sector

Need for such project report can be recognized from individual performance reviews, individual meetings, employee satisfaction surveys and by being in constant touch with the employees.

To know the behaviour of the employee in the service sector. What are the expectations of the employee in the service sector. Why the attrition rate is increasing. What are the factors forcing the employees to leave the organisation/service sector.

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LITERATURE REVIEW

LITERATURE REVIEW
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EMPLOYEES SATISFACTION REGARDING MONETARY BENEFITS PROVIDED BY THE COMPANY. Retention Management: Background: retention management is a highly topical subject and an important dilemma many organizations might face in the future, if not facing it already. We believe that the leader plays a key role in employee retention and retention management. The concept of retention management can both have a narrow, and a broader significance. Both parts of its significance are generally included in this thesis. The background of the thesis present a few articles that discuss issues that makes it important for the organization, and the leaders, to work hard with retention management. The research is based on the leaders in the Finnish case company Tradeka. Following key questions are intended to be answered: What are the consequences between leaders actions and employees retention? Which is the leaders role when it comes to retaining employees?

Purpose statement: The purpose of the thesis is to investigate and analyze how company leaders today can retain their key employees. How can the provision of key human resources develop a long-term relationship that makes top employees stay in the company? The study aims to establish the procedure leaders apply to retain employees. The purpose is to compare the qualitative study, made at the case company, with findings from the thesis theoretical framework.

Employee Retention Strategies

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The basic practices which should be kept in mind in the employee retention strategies are: 1. Hire the right people in the first place. 2. Empower the employees: Give the employees the authority to get things done. 3. Make employees realize that they are the most valuable asset of the organization. 4. Have faith in them, trust and respect them 5. Provide them information and knowledge. 6. Keep providing them feedback on their performance. 7. Recognize and appreciate their achievements. 8. Keep their morale high. 9. Create an environment where the employees want to work and have fun.

These practices can be categorized in 3 levels: Low, medium and high level. Low Level Employee Retention Strategies:

Appreciating and recognizing a well done job Personalized well done and thank-you cards from supervisors Congratulations e-cards or cards sent to spouses/families Voicemails or messages from top management Periodic days off for good performance Rewards ( gift, certificates, monetary and non monetary rewards)
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 Recognizing professional as well as personal significant events Wedding gifts Anniversary gifts New born baby gifts Scholarships for employees children Get well cards/flowers Birthday cards, celebrations and gifts Providing benefits Home insurance plans Legal insurance Travel insurance Disability programs Providing perks: It includes coupons, discounts, rebates, etc Discounts in cinema halls, museums, restaurants, etc. Retail store discounts Computer peripherals purchase discounts Providing workplace conveniences On-site ATM On-site facilities for which cost is paid by employees laundry facility for bachelors Shipping services Assistance with tax calculations and submission of forms Financial planning assistance
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 Casual dress policies Facilities for expectant mothers Parking Parenting guide Lactation rooms Flexi timings Fun at work Celebrate birthdays, anniversaries, retirements, promotions, etc Holiday parties and holiday gift certificates Occasional parties like diwali, holi, dushera, etc Organize get together for watching football, hockey, cricket matches Organize picnics and trips for movies etc Sports outings like cricket match etc Indoor games Occasional stress relievers Casual dress day Green is the color day Handwriting analysis Tatoo, mehandi, hair braiding stalls on weekends Mini cricket in office Ice cream Fridays Holi-Day breakfast Employee support in tough time or personal crisis
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 Personal loans for emergencies Childcare and eldercare services Employee Assistance Programs ( Counseling sessions etc) Emergency childcare services Medium Level Strategies for Employee Retention

Appreciating and recognizing a well done job Special bonus for successfully completing firm-sponsored certifications Benefit programs for family support Child adoption benefits Flexible benefits Dependents care assistance Medical care reimbursement Providing conveniences at workplace Gymnasiums Athletic membership program Providing training and development and personal growth opportunities Sabbatical programs Professional skills development Individualized career guidance High Level Strategies

Promoting Work/Life Effectiveness Develop flexible schedules

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 Part-time schedules Extended leaves of absence Develop Support Services On-site day care facility etc. Understand employee needs: This can be done through proper management style and culture Listen to the employee and show interest in ideas Appreciate new ideas and reward risk-taking Show support for individual initiative Encourage creativity Encouraging professional training and development and/or personal growth opportunities: It can be done through: Mentoring programs Performance feedback programs Provide necessary tools to the employees to achieve their professional and personal goals Getting the most out of employee interests and talents Higher study opportunities for employees Vocational counselling Offer personalized career guidance to employees Provide an environment of trust: Communication is the most important and effective way to develop trust.
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 Suggestion committees can be created Open door communication policy can be followed Regular feedbacks on organizations goals and activities should be taken from the employees by: Management communications Intranet and internet can be used as they provide 24X7 access to the information Newsletters, notice boards, etc. Hire the right people from the beginning: employee retention is not a process that begins at the end. The process of retention begins right from the start of the recruitment process. The new joinees should fit with the organizations culture. The personality, leadership characteristics of the candidate should be in sync with the culture of the hiring organization. Referral bonus should be given to the employees for successful hires. They are the best source of networking. Proper training should be given to the managers on interview and management techniques. An internship program can be followed to recruit the fresh graduates.

Retention Success Mantra

Transparent Work Culture

In todays fast paced business environments where employees are constantly striving to achieve business goals under time restrictions; open minded and transparent work
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culture plays a vital role in employee retention. Companies invest very many hours and monies in training and educating employees. These companies are severely affected when employees check out, especially in the middle of some big company project or venture. Although employees most often prefer to stay with the same company and use their time and experience for personal growth and development, they leave mainly because of work related stress and dissatisfactions .More and more companies have now realized the importance of a healthy work culture and have a gamut of people management good practices for employees to have that ideal fresh work-life. Closed doors work culture can serve as a deterrent to communication and trust within employees which are potential causes for work- Related apathy and frenzy.

A transparent work environment can serve as one of the primary triggers to facilitate accountability, trust, communication, responsibility, pride and so on. It is believed that in a transparent work culture employees rigorously communicate with their peers and exchange ideas and thoughts before they are finally matured in to full-blown concepts. It induces responsibility among employees and accountability towards other peers, which gradually builds up trust and pride. More importantly, transparency in work environment discourages work-politics which often hinders company goals as employees start to advance their personal objectives at the expense of development of The company as a single entity. . Quality Of Work

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The success of any organization depends on how it attracts, recruits, motivates, and retains its workforce. Organizations need to be more flexible so that they develop their talented workforce and gain their commitment. Thus, organizations are required to retain employees by addressing their work life issues. The elements that are relevant to an individuals quality of work life include the task, the physical work environment, social environment within the organization, administrative system and relationship between life on and off the job. The basic objectives of a QWL program are improved working conditions for the Employee and increase organizational effectiveness. Providing quality work life involves taking care of the following aspects: Occupational health care: The safe work environment provides the basis for the person to enjoy working. The work should not pose a health hazard for the person. The employer and employee, aware of their risks and rights, could achieve a lot in Their mutually beneficial dialogue.

Suitable working time: Organizations are offering flexible work options to their employees wherein employees enjoy flexi-timings for dedicating their efforts at work.

Appropriate salary: The appropriate as well as attractive salary has always been an important factor in retaining employees. Providing employees salary at par with the other counterparts of above that what competitors are paying motivates them to stick With the company for long. QWL consists of opportunities for active involvement in group working arrangements or problem solving that are of mutual benefit to employees or employers, based on labor management cooperation.
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People also conceive of QWL as a set of methods, such as autonomous work groups, job enrichment, and high-involvement aimed at boosting the satisfaction and productivity of workers. It requires employee commitment to the organization and an environment in which this commitment can flourish. Providing quality at work not only reduces attrition but also helps in reduced absenteeism and improved job satisfaction. Not only does QWL contribute to a company's ability to recruit quality people, but also it enhances a company's competitiveness. Common beliefs support the contention that QWL will positively nurture a more flexible, loyal, and motivated workforce, which are essential in determining the company's competitiveness. Supporting Employees Organizations these days want to protect their biggest and most valuable asset and they want to do this in a way that best suits their organizational culture. Retaining employees is a difficult task. Providing support to the employees acts as a mantra for retraining them. Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees.

The management can support employees directly or indirectly. Directly, they provide support in terms of personal crises, managing stress and personal development. Management can support employees, indirectly, in a number of ways as follows:

Manage employee turnover: Employee turnover affects the whole organization in terms of productivity. Managing the turnover, hence, becomes an important task. A proactive approach can be adopted to reduce attrition. Strategies should be framed in
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advance and implemented when the times arrives. Turnover costs should also be taken into consideration while framing these strategies.

Become employer of choice: What makes a company an employer of choice? Is the benefit it offers or the compensation packages it gives away to its employees? Or is it measured in terms of how they value their employees or in terms of customer satisfaction? Becoming an employer of choice involves following a road map which tells where to go as a brand.

Engage the new recruits: The newly hired employees are said to be least engaged in the organization. Keeping them engaged is an important task. The fresh talent should be utilized to maximum before they start feeling bored in the organization.

Optimize employee engagement: An organizations productivity is measured not in terms of employee satisfaction but by employee engagement. Employees are said to be engaged when they show a positive attitude toward the organization and express a commitment to remain with the organization. Employee satisfaction also comes with high engagement levels. So, organizations should aim to maximize the engagement among employees. Coaching and mentoring: Employees whose work performance suffers due to poor interpersonal relationships or because of lack of interpersonal skills should be provided proper coaching by their superiors. Planed coaching sessions help an individual to work through issues, maximize his potential and return to peak performance.
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Feedback

Feedback acts as a channel of communication between the employee and his manager. The amount of information employees receive about how well or how poorly they have performed is what we call feedback. It is a dialog between a manager and an employee which acts as a way of sharing information about the performance. It suggests where the employee performance is effective and where performance has to improve. Managers can provide either positive feedback or negative feedback to employees. This feedback helps the employee assess his performance and identify the improvement areas. Positive feedback communicates managerial satisfaction. Positive recognition for good performance boosts up morale of employees and results in performance improvement to a higher productivity level. It is believed that positive feedback is the only type of feedback that generates performance above the minimum acceptable level. Negative feedback obviously communicates managers

dissatisfaction. However, negative feedback sometimes make employee to put more efforts to improve his performance. But such times are very rare. Moreover this improvement is short term. Some managers do not provide any kind of feedback to their employees. Due to no feedback, employees may assume that they are performing productively or they may feel that the manager is satisfied with their performance. Studies reveal the performance tends be same or even decreases if no feedback is provided. Thus, feedback is necessary because: It builds trust and enhances communication between manager and employee. It gives managers and employees a way to identify and discuss skills and strengths.
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Positive feedback leads to employee retention and Retention. It helps in identifying performance areas that need improvement and specific ways to improve them. It acts as an opportunity to enhance performance by identifying resources for skill development. It is an opportunity for managers and employees to assess and identify career and advancement opportunities. It helps employees to understand the effectiveness of their performance and contributes to their overall knowledge about the work Managers have tendency to ignore good performances of their employees. Providing no feedback may demotivate employees and may lead to employee absenteeism. Input from managers side is necessary as it help employees to improve their performance and increase productivity.

Communication Between Employee and Employer

Communication is a process in which a message is conveyed to the receiver by the sender. The message may be or may not be in a common format or language that both the sender and receiver understand. So there is a need to encode and decode the message in the process. Encoding and decoding also helps in the security of the message. The process of communication is incomplete without the feedback. Communication is the solution to almost everything in this world. Same applies to employee retention also. Straight-from-the-shoulder communication is what the employees need from their employers. Employees look for organizations where communication and process are transparent. Nothing is hidden and shared with the employees. There are 3 categories of employees:
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A: Who will leave their current employer in 3 years of their employment B: Who have a probability of leaving their current employer in next 3 years C: Who will stay with their current employer in the next 3 years Category A: These are the employees who lack communication with their employers.

Category C: These are the employees who have proper, well structured communication with their employers. Communication is also the way to win the employees trust in the organization. Employees trust the employers who are friendly and open to them. This trust leads to employee loyalty and finally retention. Employers also feel that the immediate supervisors are the most authenticated and trusted source of information for them. So the organizations should hire managers who are active communicators. Communication mediums.

Open door policy: Organizations should support open door policies so that the employees feel comfortable and are able to express their doubts and feeling to their employers. Frequent meetings and Social gatherings Emails, Newsletters, Intranet and many more. So there should be effective communication across the organization and this communication should be two-way. Communication alone can lead to unimaginable heights of employee retention.

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COMPANY PROFILE

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COMPANY PROFILE

Shri Venkateshwara University is the outcome of the dream of a visionary who had a desire to create an education system where even a deprived background student will get equal opportunity and motivation to learn and receive education in order to become an achiever par excellence. The dreamer, our Founder Chancellor, Shri Sudhir Giri, an Engineer by profession, a down to earth person with human values by childhood and family experience, an achiever and leader, an educational entrepreneur, knows how to translate his dream to reality. He analyzed and observed very keenly the changing global scenario and its demand on education system especially the applied sciences, including management and technical education. With this in mind, a world class facility had been created in Gajraula to develop products to be the most integrated and well tuned professionals, technocrats who will serve the society with dedication, value and proper mindset. Shri Venkateshwara University is strongly wedded to orienting education capable of meeting the rapidly changing needs and challenges of the universe at large and of India in particular. The University education is an organized attempt to help people
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become intelligent, self reliant, able to face real life situation and have an economic and ethical relevance to the society. We at Shri Venkateshwara University evolved and adopted the teaching programs, requiring the students to undergo the rigor of the professional world in forms as well as in substance providing them an opportunity to apply their class-room knowledge to live situations. Thus, to build the long needed bridge between the professional world and the educational world. DUAL DEGREE PROGRAM (INTEGRATED PROGRAM): One of the most popular flexibilities provided in the University's Educational structures is the dual degree integrated programs. Under the scheme, it is possible for a student to work for and complete concurrently two programs within a reasonable period of time (normally one year is saved). We have introduced some value aided programs and also the course structure has been designed in a way where a student can earn while learning. ABOUT JP NAGAR HISTORY The District has been the part of Moradabad in the past which was a part of 'Sarkar of Sambhal' of Delhi Province during the Akbar regime. ORIGIN District Jyotiba Phule Nagarlies in the west of Moradabad District adjoining Meerut, Ghaziabad & Buland Shahar. The district came into being on 24th April 1997 in the memory of famous social reformer Sant Mahatama Jyotiba Phule by combining Amroha, Dhanora & Hasanpur Tehsils of Moradabad district vide UP Gazette no. 1071/1-5-97/224/sa-5 dated 15/4/1997 whose head-office is situated in the ancient city Amroha.
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AREA & GEOGRAPHY The district consists of 1133 villages, 3 Tehsils, 6 Blocks & 11 Police Stations. Its geographical area is 2470 Sq. Km. It extends from Latitude 28 54' North to 39 6' North and Longitude 78 28' East to 78 39' East. The maximum & minimum heights from sea level are 240ft. & 177ft. respectively. In the north of the district lies district Bijnore, Tehsil Sambhal of Moradabad is in the south; Tehsil Sadar of Moradabad is in the east and in the west are situated districts Meerut, Ghaziabad & Buland Shahar. Ganga river separates it from district Ghaziabad, Meerut & Buland Shahar. Moradabad is a hub of commercial activities and is called "Brass City". There are several hundred of units engaged in the manufacturing and export of Brass Products. Average annual export of Brass and handicraft items from Moradabad is estimated to be worth 3000 crores, which constitutes 40% of the total export from India in their category. Amraha is a historical city with Mazars, Masjids, Temples and Gates as old as 1325 AD-1351 AD. ABOUT GAJRAULA Gajraula is situated on National Highway 24, 53 km. away from Moradabad & 100 Km. from Delhi. It has been developed as an important industrial city. Many large & medium scale industries are established here, to name some are Vam Organics, Chaddha Rubber, Shivalik Cellolose of Hindustan Lever, Jubiliant Life Sciences, INSILCO, Coral Newsprint, EOU, Raunaq Automobiles, and the list goes on. The University is surrounded by industrial towns like Moradabad, Rudrapur, Hardwar, Roorkee, Meerut, Kashipur, Noida, Ghaziabad and Delhi, providing a wealth of opportunities to the graduating students to get trained and absorbed both in Indian and Multinational companies.
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ACADEMIC ADVISORY BODY

1.

Dr. Binod Kumar Vice Chancellor , Shri Venkateshwara University, Gajraula Former Professor ,IIM Calcutta, Director IMT, Ghaziabad

2.

Dr. Ashish Banarjee Prof. & Head of Marketing, IIM Calcutta

3.

Prof.(Dr.) S.P. Sabberwal Former Director, Energy Center, IIT Delhi

4.

Prof( Dr. ) A K Raghav Former Dean(IRD), IIT Delhi

5.

Prof. (Dr.)Binita Srivastava Prof. & Head of Paedodontistry Santosh Medical College, Ghaziabad

6.

Dr. Ashok Agarwal Former Professor ,IIM Calcutta and Former CMD, SQL Star International, Professor (Adjunct) BITS, Piliani.

7.

Dr. (Prof.) Nand Kumar All India Institute of Medical Sciences, New Delhi

8.

Dr. S.C Sharma Registrar, Shri Venkateshwara University, Gajraula

9.

Dr. Sunita Saxena Director, ICMR (Indian Council for Medical Research) Safdarjung Hospital Campus, New Delhi

10. Dr. S.R. Sen Gupta

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CMD, QUEST HR SDN., BHD, Kualalumpur Malaysia 11. Dr. Piyush M. Sinha Chief Technical Manager, Portland Oregon USA 12. Prof. Jagdish Kapur Ex Prof. & Head, IIPA , New Delhi 13. Mr. Hemant Sharma Director, India T.V. 14. Mr. Anup Srivastava Director, HR, Air India 15. Dr. Abhay Kumar Srivastava Head, Disaster Management, Haryana Institute of Public Administration, Gurgaon 16. Sh. Mayank Manshingh Director, India T.V. 17. Mr. Ajay Anand IPS 18. Prof.( Dr.) N.K.Sinha CEO, Venkateshwarta Group of Institutions,Meerut

MISSION & VISION MISSION To create a world class academic system with best infrastructure and learning resources in order to produce global level achievers. To facilitate integration and tuning of personal excellence among our pupils that will be demonstrated through their balanced personality, adjustability under all conditions, creativity, dedication, passion for learning, value orientation and foresight.

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Development of high standard of professionalism among our products with global vision and managerial leadership to build and lead a winning team. To organize national and international seminars for sharing of knowledge and also meaningful understanding and networking among schools and scholars. To facilitate research of high quality and publication of standard Books & Journals. To inculcate passion among the university community including students to apply knowledge for the development & growth of community, society & mankind as a whole. VISION To be a recognized as a centre of academic excellence imparting quality education, producing research of high standard and developing talents with balance of personal and professional excellence.

CLASSROOMS & TUTORIALS Class Rooms & Tutorials at Shri Venkateshwara University are spacious, airy and well ventilated. They are designed in a manner that even when there is a power failure, the student and the teacher will not feel any type of discomfort as the flow of natural light will provide enough light to continue with their teaching activities. The furniture is designed keeping in view the comfort and the necessities of the students. The class rooms are equipped with modern teaching aids such as Over Head Projector, LCD projector, Magnetic Boards, Power Presentation Techniques (PPT), Public Address System etc. LABORATORIES

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SHRI VENKATESHWARA UNIVERSITY is well equipped with laboratories which have been aesthetically designed and arranged with modern equipment and infrastructure to completely cover the syllabus of each branch and school of study. School of Engineering & Technology Labs include Physics Lab, Chemistry Lab, Electrical Lab, Electronics Lab, Mechanical Lab, Professional Communication Lab, Workshop, Computer Lab, Graphics Lab etc. In all these labs, hands-on training is imparted for students to keep pace with modern technology. The Central Workshop is divided in different sections i.e. Carpentry Shop, Smithy Shop, Fitting Shop, Welding Shop, Painting Shop, Sheet Metal Soldering & Brazing Shop, Plumbing Shop, Machine Shop, Foundry Shop and each section is equipped with adequate number of latest machines and tools to cater to the syllabus and needs of the students capable of meeting the challenges of the industries. School of Nursing Labs include Nursing Foundation Lab, CHN Lab, Nutrition Lab, OBG and Pediatrics Lab, Pre-Clinical Science Lab, Computer Lab. These labs are equipped with required articles and equipment needed for practicing nursing procedures. Clinical facilities have also been created. The University also has a hospital consisting of three hundred beds with community service center. School of Pharmacy Labs include Pharmaceutics Lab, Inorganic Chemistry Lab, Human Anatomy & Physiology Lab, Pharmaceutical Analysis Lab, Organic Lab, Physical Chemistry Lab, and Computer Lab. All the above said labs have latest equipment in sufficient number to meet the requirement of the industry and of the PCI. We have also planned to have an Animal House, for which the appropriate authorities have been approached for a license.

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School of Hospitality Management. Arrangements have already been made to establish modular kitchen, restaurant, flower room, service room, guest room and front office. School of Journalism and Mass Communication. Three studios have been planned with latest cameras and other equipment for imparting print and electronic media techniques to the students. School of Management and School of Computer Science. Dedicated Computer labs have been set up. In addition to these, dedicated computer labs, common computer labs have also been planned for other schools. Computer Laboratories include Artificial Intelligence, Operating System, Graphics Multimedia, Networking, Visual Studio Dot Net, Advanced Java, Database, Mobile Computing and Advance Computer Network. The Computer laboratories have a large number of P-4 IBM, HCL, HP, DELL, Lenovo machines with high-resolution color TFTs, Scanners, Printers, CD/DVD writers, CISCO switches, Hubs and UPS. Each Laboratory is networked through an appropriate IBM server. The Centre is equipped with 24 Mbps leased-line-based Internet facility, workstations running Microsoft Windows Vista, Windows7 and XP. The University is recruiting well-qualified and experienced technical staff with all resources to develop the technical skills of the students in all fields. Shri Venkateshwara University has a well-stocked and fully computerized multimedia library for the various schools. To ignite the intellectual spirit in young minds, a stock of about 25,000 latest books, large collection of video/audio CDs, Magazines, Journals, industry and company information sources are made available to the students, faculty and staff. The University also has school-wise libraries to provide
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adequate support for complete academic pursuit. Additionally, separate reference section for each school with recommended books for each course have also been provided. The very purpose of the Library is to support and supplement teaching, learning and research in the University by developing and promoting access to relevant and useful information resources. It is also to contribute to the wider section of the world with the transfer of knowledge by collaborating and cooperating with other organizations. We give access to information of the world and can help the university community at large, to develop a mindset and make the most of it. The timings of the library are extended during the examination periods to cater to the needs of the students. Major features of the Libraries include:

A rich collection of Reference & Text Books Large collection of National & International Journals Spacious & Airy Reading Halls Separate reading room for Researchers & Teachers Computerized Library Management System Audio-Visual Library Section Career Guidance Section Magazines and Periodicals Section Easy operation through automated library procedures and Bar Code system Digital Library to provide access to e-Journals, to download desired materials

Photocopy facilities Small team discussion center

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Therefore, our Library can be redefined as a place where students can get unrestricted access to information in many formats and from many sources. It extends beyond the physical walls of a building by including material accessible by electronic means and by providing the assistance of librarians in navigating and analyzing tremendous amounts of knowledge with a variety of digital tools as well as manually. HOSTEL Separate hostel facility has been created for men and women keeping in view the need of discipline, security and comfort. Shri Venkateshwara University provides immaculate hostel rooms for both men and women. A high level of hygiene is observed in the campus. We strive to provide the best facilities to hostellers. Uninterrupted power and water supply is in the hostel rooms. 24 hours security is deployed on the campus to ensure the safety of the students. High standard of discipline is also ensured on the campus. Hot water is supplied during the winter. Water coolers are attached with R.O. installed on each floor. Single, Double, Three and Four students are accommodated in a room depending on its size. Common rooms in every hostel are equipped with modern recreational activity equipments. SPORTS We believe that a healthy body is a healthy mind. We have the required infrastructure for the various outdoor sports. Students are encouraged to take part in sports so that

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they imbibe various attributes that are helpful in life. It allows the individuals to make constructive use of their leisure time. A fully air conditioned gym on the campus with all the latest equipment's are a matter of envy. We have the luxury of providing personal coaches for students who aspire to become future body builders. It is pleasing to see the students staying fit in their journey of life. We would like to have our own team of builders to represent us in various events. CAFETERIA A cafeteria is a place where students come to hangout and relax between lectures. We believe that a student must enjoy his/her social life as much as he/she enjoys his/her academic life. We offer a lavish menu to cater to the taste buds of the students. The menu comprises of dishes from across the states. The mouthwatering dishes served at our cafeteria are prepared maintaining high standards of hygiene and cleanliness. The sumptuous meals are served round the clock at our cafeteria. The basic amenities in the college campus are available at a comfortable distance. Regular supply of drinking water in the campus is ensured. TRANSPORT Students should not come across any kind of problem with regard to Transport. For the purpose, Shri Venkateshwara University has ties with cab and bus services. You can apply for cab or bus service in the office by submitting an application and we will notify you about the services we can provide in your respected locality. OGA We also touch upon the spiritual aspect of individuals. With the high level of stress and anxiety prevalent in the lifestyle today, we have highly qualified instructors to
39

help cope with same. Mental strength is equally important as is the physical might. Yoga is important as it helps to remove negative blocks from the mind and toxins from the body. It also helps in building attention, focus and concentration, especially in children.

ADMISSION PROCEDURE Students securing desired merit in the SVU Entrance Examination will be informed of their selection. These students will then need to report to the University Admissions office to complete further formalities, deposit required documents and University Fee. In case a student fails to report for admission on a given date or an extended date, his/her admission will be cancelled and such a student will not have any right to admission subsequently. ADMISSION CRITERIA Admission in Shri Venkateshwara University will be through Entrance Examinations conducted online at a several centers across the country. The Entrance Examination schedule will be notified in the Admission Notification circular. However, for some of the courses, admission will be merit based. For admission in MBA, GD & PI will also be conducted in addition to entrance exams. ADMISSION LEVERAGES FEE PAYMENT: Every student is required to make full payment of the requested course fee for confirmed admission. All admissions will be treated as provisional till the realization of full fee. Further a student is not eligible to attend classes till the full payment of all components of the course of SVU fee is paid.
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REFUND OF FEE: Fee once paid will not be refunded in any case if a student wants to get his/her admission withdrawn on his/her own reason. However, in case a student is found ineligible for admission due to certain criteria, fee paid may be refunded after deducting processing charges. REFUND OF SECURITY DEPOSIT: If a student withdraws admission in the middle of the tenure of a course, the security amount, if any, will be refunded only after the completion of the tenure of the course. EXAMINATION SYSTEM Students who fulfill Shri Venkateshwara University's admission eligibility criteria are allowed to appear in the examinations. Every student needs to attend 75% theory and practical classes. However, in some exceptional cases (to be notified separately), relaxations may be granted by the Vice Chancellor. A student is required to pay full fees and clear all the University dues before granting permission to appear in the examinations. The detailed pre-requisite guidelines for appearing in Shri Venkateshwara University conducted exams and promotion are to be issued separately by the controller of exams. The University has adopted semester system exams for most of its courses. Each academic year comprises of two semesters. SCHOLARSHIPS To start with, a certain amount of fee waiver is granted in admission to a student based on the percentage of marks secured by the candidate in the qualifying exams. The formalities for scholarship to a second year or more student are being worked out.

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SCHOOL OF ENGINEERING AND TECHNOLOGY B.TECH. S. No. 1. Name of Program Eligibility Duration

B.Tech.

1. Candidates who have passed 10+2 (intermediate) levels from any Board or its Automobile equivalent from any recognized Board/ Engineering (AE) University with Mathematics, Physics and Aeronautical & Space Chemistry / Computer Science/ BioEngineering (ASE) Technology/ Biology can apply. Civil Engineering (CE) 2. Candidates appearing in 10+2/ Mechanical intermediate with above combination may Engineering (ME) also apply. Electronics & Communication 3. Merit in AIEEE/ UPSEE 2011-12 Engineering (ECE) Computer Science Engineering (CSE) Information Technology (IT)

4 Years (8 Semest

B.TECH.(INTEGRATED) S. No. 2. Name of Program Eligibility Duration

B.Tech.(Integrated)

1. For admission in First year of B.Tech (Integrated), a candidate should have Automobile Engineering passed High School or 10th from any (AE) Board or its equivalent from any Aeronautical & Space recognized Board/University. Candidate Engineering (ASE) is essentially required to pass in each Civil Engineering (CE) subject of the qualifying subject group. Mechanical Engineering (ME) 2. Compulsory : Science Group Electronics & Communication Engineering (ECE)
42

6 Years (12 Seme

Computer Science Engineering (CSE) Information Technology (IT) M.TECH.(FULL TIME) S. No. 3. Name of Program Eligibility Duration

M.Tech.(Full Time) Automobile Engineering (AE) Aeronautical & Space Engineering (ASE) Civil Engineering (CE) Mechanical Engineering (ME) Electronics & Communication Engineering (ECE) Computer Science Engineering (CSE) Information Technology (IT)

1. B. Tech. in relevant field. 2. For CSE/IT B. Tech. CSE/IT, MCA and M.Sc. in CSE/IT 3.For ECE B. Tech. ECE/EI, M.Sc. (Electronics) 4. GATE Score or merit based on percentage of marks secured in the qualifying examination 2011-12 will be preferred.

2 Years (4 Semeste

M. TECH. (PART TIME/ WEEKEND) S. No. 4. Name of Program Eligibility Duration

M. Tech. (Part Time/ Weekend)

1. B. Tech. in relevant field.

2 Years (4 Semest

2. For CSE/IT B. Tech. CSE/IT, MCA Automobile Engineering and M.Sc. in CSE/IT (AE) Aeronautical & Space 3.For ECE B. Tech. ECE/EI, M.Sc. Engineering (ASE) (Electronics) Civil Engineering (CE) Mechanical Engineering 4. GATE Score or merit based on
43

(ME) Electronics & Communication Engineering (ECE) Computer Science Engineering (CSE) Information Technology (IT)

percentage of marks secured in the qualifying examination 2011-12 will be preferred. 5. Sponsorship or employment certificate from the employer is essential.

B.TECH. + M.TECH (DUAL DEGREE) S. No. 5. Name of Program Eligibility Duration

B.Tech. + M.Tech (Dual Degree)

1. Candidates who have passed 10+2 5 Years (intermediate) levels from any Board or its (10 equivalent from any recognized Board/ Semesters Automobile University with Mathematics, Physics and Engineering (AE) Chemistry / Computer Science/ BioAeronautical & Space Technology/ Biology can apply. Engineering (ASE) Civil Engineering 2. Candidates appearing in 10+2/ (CE) intermediate with above combination may Mechanical also apply. Engineering (ME) Electronics & 3. Merit in AIEEE/ UPSEE 2011-12 Communication Engineering (ECE) Computer Science Engineering (CSE) Information Technology (IT)

B.TECH. + M.B.A. (DUAL DEGREE) S. No. 6. Name of Program B.Tech. + M.B.A. (Dual Eligibility Duration

1. Candidates who have passed 10+2 4 Years (intermediate) levels from any Board or its (8 Semesters) equivalent from any recognized Board/ University
44

Degree)

with Mathematics, Physics and Chemistry / Computer Science/ Bio-Technology/ Biology can apply. 2. Candidates appearing in 10+2/ intermediate with above combination may also apply. 3. Merit in AIEEE/ UPSEE 2011-12

SCHOOL OF MANAGEMENT B.B.A. S. No. 1. Name of Program B.B.A. Eligibility Duration

1. Candidates who have passed 10+2 or intermediate 3 Years levels from any Board or its equivalent from any (6 Semesters) recognized Board/ University with English are eligible. 2. Candidates appearing in 10+2/ intermediate may also apply.

M.B.A. (FULL TIME) S. No. 2. Name of Program Eligibility Duration

M.B.A. (Full Time) Finance HR International Business Marketing Information Technology Hospital and Healthcare

1. Candidates who have passed 10+2 or intermediate levels from any Board or its equivalent from any recognized Board/ University with English are eligible. 2. Candidates appearing in 10+2/ intermediate may also apply. 3. Merit/ Percentile in MAT/ CAT/ XAT/ JMET/ CET/ SNAP Board/ UPCMET/
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2 Years (4 Semesters

Management Tourism and Hospitality Entrepreneurship & Retail Management

ATMA will be considered. 4. GD/PI

M.B.A. (PART TIME/ WEEKEND/ EXECUTIVE) S. No. 3. Name of Program Eligibility Duration

M.B.A. (Part Time/ 1. Candidates who have passed 10+2 or 2 Years Weekend/ Executive) intermediate levels from any Board or its (4 Semesters) equivalent from any recognized Board/ Finance University with English are eligible. HR International Business 2. Candidates appearing in 10+2/ Marketing intermediate may also apply. Information Technology 3. Merit/ Percentile in MAT/ CAT/ XAT/ Hospital and JMET/ CET/ SNAP Board/ UPCMET/ Healthcare ATMA will be considered. Management Tourism and 4. GD/PI Hospitality Entrepreneurship & 5. Sponsorship or employment certificate Retail Management from the employer is essential.

B.B.A. + M.B.A. (DUAL DEGREE) S. No. 4. Name of Program Eligibility Duration

B.B.A. + M.B.A. (Dual Degree)

Finance HR International Business 2. Candidates appearing in 10+2/ Marketing intermediate may also apply. Information
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1. Candidates who have passed 10+2 or 5 Years intermediate levels from any Board or its (10 equivalent from any recognized Board/ Semesters) University with English are eligible.

Technology Hospital and Healthcare Management Tourism and Hospitality Entrepreneurship & Retail Management B. COM (PROFESSIONAL) + M.B.A. (DUAL DEGREE) S. No. 5. Name of Program Eligibility Duration

B. Com (Professional) 1.Candidates who have passed 10+2 or 5 Years + M.B.A. (Dual intermediate levels from any Board or (10 Degree) its equivalent from any recognized Semesters) Board/ University with English are Finance eligible. HR International Business 2. Candidates appearing in 10+2/ Marketing intermediate may also apply. Information Technology Hospital and Healthcare Management Tourism and Hospitality Entrepreneurship & Retail Management

B.C.A. S. No. 1. Name of Program B.C.A. Eligibility Duration

1. Candidates who have passed 10+2 or intermediate 3 Years levels from any Board or its equivalent from any (6 Semesters) recognized Board/ University with English are
47

eligible. 2. Candidates appearing in 10+2/ intermediate may also apply. M.C.A. S. No. 2. Name of Program M.C.A. Eligibility Duration

1. Candidates who have obtained Bachelor's degree in any discipline or equivalent higher qualification with mathematics as a compulsory subject in 10th standard can apply. 2. Candidates appearing in final year in Bachelor's degree can also apply. 3. Candidates who have obtained or appeared in final year of BCA may apply.

3 Years (6 Semes

B.C.A. + MCA (DUAL DEGREE) S. No. 3. Name of Program Eligibility Duration

B.C.A. + 1. Candidates who have passed 10+2 M.C.A. (Dual (intermediate) levels from any Board or its Degree) equivalent from any recognized Board/ University with English & Math can apply. 2. Candidates appearing in 10+2/intermediate may also apply.

5 Years (10 Semesters

SCHOOL OF PHARMACY B.PHARM.

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S. No. 1.

Name of Program B.Pharm.

Eligibility

Duration

1. Candidates who have passed or are appearing in 4 Years 10+2 with Mathematics, Biology and Chemistry/ (8 Semesters Computer Science / Bio-Technology can also apply.

M.PHARM. S. No. 2. Name of Program Eligibility Duration

M.Pharm.

1. Candidates who have passed or are 2 Years appearing in 10+2 with Mathematics, Biology (4 Semesters and Chemistry/ Computer Science / BioTechnology can also apply.

SCHOOL OF HOSPITALITY B.SC. S. No. 1. Name of Program B.Sc. Airlines Tourism & Hospitality BHMCT
49

Eligibility

Duration

1. Candidates who have passed or are appearing 3 Years in 10+2 or intermediate class can apply. (6 Semester

S. No. 2.

Name of Program

Eligibility

Duration

BHMCT (Bachelor of Hotel Management & Catering Technology)

1. Candidates who have passed or are appearing in the 10+2 (intermediate) levels with Mathematics, Biology and Chemistry/ Computer Science / BioTechnology/ Biology can apply.

4 Years (8 Semesters)

SCHOOL OF JOURNALISM AND MASS COMMUNICATION B.SC. MULTIMEDIA (ANIMATION AND GRAPHICS) S. No. 1. Name of Program Eligibility Duration

B.Sc. Multimedia 1. Candidates who have passed or are 3 Years appearing in 10+2 or intermediate levels can (6 Semesters (Animation and apply. Graphics)

B.J.M.C. S. No. 2. Name of Program B.J.M.C Eligibility Duration

1. Candidates who have passed or are appearing 3 Years in 10+2 or intermediate levels can apply. (6 Semesters)

PG PROGRAM IN TELEVISION PRODUCTION, DIRECTION & BROADCAST JOURNALISM S. No. 3. Name of Program Eligibility Duration

Post Graduation Program in Television Production, Direction & Broadcast Journalism

1. Candidates who have passed in 1 Year Bachelor Degree from a (2 Semesters) recognized University or equivalent are eligible.
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2. Candidate appearing in final year bachelor degree may also apply MASTER PROGRAM IN ADVERTISING, PR AND MARKETING S. No. 4. Name of Program Eligibility Duration

Master Program in Advertising, PR and Marketing

1. Candidates who have passed in Bachelor Degree from a recognized University or equivalent can apply. 2. Candidates appearing in final year bachelor degree may also apply.

1 Year (2 Semesters)

DIPLOMA IN ANIMATION AND SPECIAL EFFECTS S. No. 5. Name of Program Eligibility Duration

Diploma in Animation and Special Effects

1. Candidates who have passed 10+2 1 Year or intermediate class can apply. (2 Semesters) 2. Candidates appearing in the 10+2 can also apply.

DIPLOMA IN TELEVISION PRODUCTION S. No. 6. Name of Program Eligibility Duration

Diploma in Television 1. Candidates who have passed 10+2 or 1 Year Production intermediate class are eligible. (2 Semesters) 2. Candidates appearing in the 10+2 can also apply.

EVENT MANAGEMENT & CORPORATE COMMUNICATION

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S. No. 7.

Name of Program

Eligibility

Duration

Event Management & Corporate Communication

1. Candidates who have passed in Bachelor Degree from a recognized University or equivalent can apply. 2. Candidates appearing in final year bachelor degree may also apply.

6 Months

CERTIFICATE COURSE IN RADIO JOCKEYING S. No. 8. Name of Program Eligibility Duration

Certificate Course 1. Candidates who have passed in Bachelor 6 Months in Radio Jockeying Degree from a recognized University or equivalent are eligible to apply. 2. Candidates appearing in final year.

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EMPLOYEE RETENTION ON SHRI VENKATESHWARA UNIVERSITY

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EMPLOYEE RETENTION

The process of employee retention will benefit an organization in the following ways: 1. The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of money to a company's 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.

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.
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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 What Makes Employee Leave? Employees do not leave an organization without any significant reason. There are certain circumstances that lead to their leaving the organization. The most common reasons can be:

Job is not what the employee expected to be: Sometimes the job responsibilities dont come out to be same as expected by the candidates. Unexpected job responsibilities lead to job dissatisfaction.

Job and person mismatch: A candidate may be fit to do a certain type of job which matches his personality. If he is given a job which mismatches his personality, then he wont be able to perform it well and will try to find out reasons to leave the job.

No growth opportunities: No or less learning and growth opportunities in the current job will make candidates job and career stagnant.

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Lack of appreciation: If the work is not appreciated by the supervisor, the employee feels de-motivated and loses interest in job. Lack of trust and support in co workers, seniors and management: Trust is the most important factor that is required for an individual to stay in the job. Nonsupportive co workers, seniors and management can make office environment unfriendly and difficult to work in.

Stress from overwork and work life imbalance: Job stress can lead to work life imbalance which ultimately many times lead to employee leaving the organization.

Compensation: Better compensation packages being offered by other companies may attract employees towards themselves.

New job offer: An attractive job offer which an employee thinks is good for him with respect to job responsibility, compensation, growth and learning etc. can lead an employee to leave the organization.

Managing Employee Retention: The task of managing employees can be understood as a three stage process: 1. Identify cost of employee turnover. 2.Understand why employee leave. 3.Implement retention strategies The organizations should start with identifying the employee turnover rates within a particular time period and benchmark it with the competitor organizations. This will
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help in assessing the whether the employee retention rates are healthy in the company. Secondly, the cost of employee turnover can be calculated. According to a survey, on an average, attrition costs companies 18 months salary for each manager or professional who leaves, and 6 months pay for each hourly employee who leaves. This amounts to major organizational and financial stress, considering that one out of every three employees plans to leave his or her job in the next two years.

Understand why employees leave : Why employees leave often puzzles top management. Exit interviews are an ideal way of recording and analyzing the factors that have led employees to leave the organization. They allow an organization to understand the reasons for leaving and underlying issues. However employees never provide appropriate response to the asked questions. So an impartial person should be appointed with whom the employees feel comfortable in expressing their opinions.

Implement retention strategy : Once the causes of attrition are found, a strategy is to be implemented so as to reduce employee turnover. The most effective strategy is to adopt a holistic approach to dealing with attrition.

An effective retention strategy will seek to ensure: Attraction and recruitment strategies enable selection of the right candidate for

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each role/organization New employees initial experiences of the organization are positive Appropriate development opportunities are available to employees, and that they are kept aware of their likely career path with the organization The organizations reward strategy reflects the employee drivers How To Increase Employee Retention Companies have now realized the importance of retaining their quality workforce. Retaining quality performers contributes to productivity of the organization and increases morale among employees/ Four basic factors that play an important role in increasing employee retention include salary and remuneration, providing recognition, benefits and opportunities for individual growth. But are they really positively contributing to the retention rates of a company? Basic salary, these days, hardly reduces turnover. Today, employees look beyond the money factor. Retention Bonus Higher attrition rates within a particular industry have forced companies to use some innovative strategies to retain employees. Retention Bonus is one of the important tools that are being used to retain employees. Retention bonus is an incentive paid to an employee to retain them through a critical business cycle. Retention bonuses are becoming more common in the corporate world because companies are going through more transitions like mergers and acquisitions. They need to give key people an attractive incentive to stay on through these transitions to ensure productivity. Retention bonuses have proven to be a useful tool in persuading employees to stay. A retention bonus plan is not a panacea. According to a survey, non management employees generally receive about 10 percent of their annual salaries in bonuses, while management and top-level supervisors earn an additional 50
58

percent of their annual salaries. While bonuses based on salary percentages are the generally used, some companies choose to pay a flat figure. In some companies, bonuses range from 25 percent to 50 percent of annual salary, depending on position, tenure and other factors. Employees are chosen for retention bonuses based on their contributions to management and the generation of revenue. Retention bonuses are generally vary from position to position and are paid in one lump sum at the time of termination. However, some companies pay in instalments as on when the business cycle completes. A retention period can run somewhere between six months to three years. It can also run for a particular project. A project has its own life span. As long as the project gets completed, the employees who have worked hard on it are entitled to receive the retention bonus. For example, the implementation of a system may take 18 months, so a retention bonus will be offered after 20 months. Although retention bonuses are becoming more common everywhere, some industries are more likely than others to offer them. Retail/wholesale companies are the most appropriate to implement stay-pay bonuses, followed by financial service providers and manufacturing firms. Companies of all sizes use retention bonus plans to keep knowledge employees retained in the company. To retain its key senior employees post merger with EDS Corporation, Mphasis is providing cash component based retention bonus plan for its employees. This is mainly to retain good employees and provide them a cash incentive to keep them motivated.

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Hire Right Talent

employee retention starts with recruitment. Early departures arise from the wrong recruitment process. Here are a few ways to ensure how to hire the right talent for a particular job. Hire appropriate candidates. Hire candidates who are actually suitable for the job. For this the employer should understand the job requirements clearly. Dont hire under qualified or clearly overqualified candidates. Provide realistic job preview at the time of hiring: Mostly employees leave an organization because they are given the real picture of their job responsibilities at the time of joining. Attrition rate can be reduced if a right person is hired for a right job. Realistic preview of the job responsibilities can be given to the employment seekers by various methods like discussions, trial periods, internships etc.

Clearly discuss what is expected from the employee : Before joining the organization, tell the candidate what is expected from him. Setting wrong expectations or hiding expectations will result in early leaving of employees.

Discuss what the expectations of the employees are: Ask employees what they expect from the organization. Be realistic. If their requirements can be fulfilled only then promise them. Or tell them beforehand that their requirements cannot be fulfilled.

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Dont show them an unrealistic picture Culture fit : Try to judge individuals capability to adapt to the organizations culture. A drastic change in the culture may give a culture shock to the candidate.

Referrals: According to the research, referred candidates stay longer with the organization. There is a fear of hampering the image and reputation of the person who referred the candidate.

Manager Role in Retention

When asked about why employees leave, low salary comes out to be a common excuse. However, research has shown that people join companies, but leave because of what their managers do or dont do. It is seen that managers who respect and value employees competency, pay attention to their aspirations, assure challenging work, value the quality of work life and provided chances for learning have loyal and engaged employees. Therefore, managers and team leaders play an active and vital role in employee retention. Managers and team leaders can reduce the attrition levels considerably by creating a motivating team culture and improving the relationships with team members. This can be done in a following way:

Creating a Motivating Environment: Team leaders who create motivating environments are likely to keep their team members together for a longer period of time. Retention does not necessarily have to come through fun events such as parties,
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celebrations, team outings etc. They can also come through serious events. e.g. arranging a talk by the VP of Quality on career opportunities in the field of quality. Employees who look forward to these events and are likely to remain more engaged. Standing up for the Team: Team leaders are closest to their team members. While they need to ensure smooth functioning of their teams by implementing management decisions, they also need to educate their managers about the realities on the ground. When agents see the team leader standing up for them, they will have one more reason to stay in the team.

Providing coaching: Everyone wants to be successful in his or her current job. However, not everyone knows how. Therefore, one of the key responsibilities will be providing coaching that is intended to improve the performance of employees. Managers often tend to escape this role by just coaching their employees. However, coaching is followed by monitoring performance and providing feedback on the same.

Delegation: Many team leaders and managers feel that they are the only people who can do a particular task or job. Therefore, they do not delegate their jobs as much as they should. Delegation is a great way to develop competencies. Extra Responsibility: Giving extra responsibility to employees is another way to get them engaged with the company. However, just giving the extra responsibility does not help. The manager must spend good time teaching the employees of how to manage responsibilities given to them so that they dont feel over burdened.

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Focus on future career: Employees are always concerned about their future career. A manager should focus on showing employees his career ladder. If an employee sees that his current job offers a path towards their future career aspirations, then they are likely to stay longer in the company. Therefore, managers should play the role of career counsellors as well.

How to Improve Employee Retention?

People want to enjoy their work so make work fun and enjoyable. Understand that employees need to balance life and work so offer flexible starting times and core hours. Provide 360 feedback surveys and other questionnaires to foster open communication. Consider allowing anonymous surveys occasionally so employees will be more honest and candid with their opinions. Provide opportunities within the company for career progression and cross-training. Offer attractive, competitive benefits .

Organizations should target job applications for employees who have characteristics that fit well with the organizational culture. Upon conducting an interview, seek out traits, such as loyalty. Also, ask the potential employee what motivates them on the job. Having more information about the potential employees expectations can help retain them, should they get hired into the company.

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Rewards and Recognition Employees want to be recognized for a job well done. Rewards and recognition respond to this need by validating performance and motivating employees toward continuous improvement. Rewarding and recognizing people for performance not only affects the person being recognized, but others in the organization as well. Through a rewards program, the entire organization can experience the commitment to excellence. When the reward system is credible, rewards are meaningful; however, if the reward system is broken, the opposite effect will occur. Employees may feel that their performance is unrecognized and not valued, or that others in the organization are rewarded for the wrong behaviours. Unrecognized and no valued performance can contribute to turnover. Recognition for a job well done fills the employees' need to receive positive, honest feedback for their efforts.

Need for Rewards and Recognition

Recognition should be part of the organization's culture because it contributes to both employee satisfaction and retention. Organizations can avoid employee turnover by rewarding top performers. Rewards are one of the keys to avoiding turnover, especially if they are immediate, appropriate, and personal. A Harvard University study concluded that organizations can avoid the disruption caused by employee turnover by avoiding hiring mistakes and selecting and retaining top performers.

One of the keys to avoiding turnover is to make rewards count. Rewards are to be immediate, appropriate, and personal. Organizations may want to evaluate whether
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getting a bonus at the end of the year is more or less rewarding than getting smaller, more frequent payouts. Additionally, a personal note may mean more than a generic company award. Employees should be asked for input on their most desirable form of recognition. Use what employees say when it comes time to reward for performance.

Designing a Rewards and and Recognition Solution In designing a rewards and recognition program, the following guidelines should be considered. Rewards should be visible to all members of the organization. Rewards should be based on well-defined, credible standards that have been developed using observable achievements. Rewards should have meaning and value for the recipient. Rewards can be based on an event (achieving a designated goal) or based on a time frame (performing well over a specific time period). Rewards that are spontaneous (sometimes called on-the-spot awards) are also highly motivating and should also use a set criteria and standard to maintain credibility and meaning. Rewards should be achievable and not out of reach by employees. Nonmonetary rewards, if used, should be valued by the individual. For example, an avid camper might be given a 10-day pass to a campsite, or, if an individual enjoys physical activity, that employee might be given a spa membership. The nonmonetary rewards are best received when they are thoughtfully prepared and of highest quality. Professionalism in presenting the reward is also interpreted as worthwhile recognition.
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Rewards should be appropriate to the level of accomplishment received. A cash award of $50 would be inappropriate for someone who just recommended a process that saved the organization a million dollars. Determining the amount of money given is a delicate matter of organizational debate in which organizational history, financial parameters, and desired results are all factors. Recognition for a job well done can be just as valued and appreciated as monetary awards. Formal recognition program can be used with success. First Data Resources, a data processing services company that employees more than 6,000 individuals in Omaha, Nebraska, uses a formal recognition program (Adams, Mahaffey, and Rick,2002). Rewards are given on a monthly, quarterly, and yearly basis, and range from Nebraska football tickets, gift certificates, pens, plaques, mugs, and other items.

One of the most popular awards at First Data is called the "Fat Cat Award" that consists of: $500 gift check Professional portrait of the employee Appreciation letter from the CEO and senior management E-mails, phone calls, and notes from peers

In addition to nonmonetary rewards, employees can be rewarded using money in numerous ways. Cash is a welcome motivator and reward for improving performance, whether at formal meetings or on the spot. Variable bonuses linked to performance are another popular reward strategy. Profit sharing and pay-for-skills are monetary bonus plans that both motivate individuals and improve goal achievement. Small acts

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of recognition are valuable for employee daily Retention. Sometimes a personal note may mean more than a generic company award.

In one survey, employees cited the following as meaningful rewards (Moss, 2000): Employee of the month awards Years of service awards Bonus pay (above and beyond overtime) for weekend work Invitations for technicians to technical shows and other industry events Meaningful and Retention Rewards

What gives meaning to rewards and recognition? What makes them effective? First, rewards and recognition should be based on a clear set of standards, with performance verifiable or observable. The standards for the reward should also be achievable. If the reward is based on an unachievable result, such as a production goal that is beyond employees' power, then those employees will not be motivated. Meaningful rewards and recognition that are achievable have the greatest impact.

Factors for Retaining the Employee

The important factors in employee growth that an employee looks for himself are: 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. Personal growth and dreams: Employees responsibilities in the organization should help him achieve his personal goals also. Organizations can not keep aside the individual goals of employees and foster organizations goals. Employees
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priority is to work for themselves and later on comes the organization. If hes not satisfied with his growth, hell not be able to contribute in organization growth.

Training and development: Employees should be trained and given chance to improve and enhance their skills. Many employers fear that if the employees are well rained, theyll leave the organization for better jobs. Organization should not limit the resources on which organizations success depends. These trainings can be given to improve many skills like:

Communications skills Technical skills In-house processes and procedures improvement related skills C or customer satisfaction related skills

Special project related skills The Three Rs of Employee Retention

To keep employees and keep satisfaction high, you need to implement each of the three Rs of employee retention: respect, recognition, and rewards.

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RESPE CT

RECOGNITION

REWARD

Respect is esteem, special regard, or particular consideration given to people. As the pyramid shows, respect is the foundation of keeping your employees. Recognition and rewards will have little effect if you dont respect employees. Recognition is defined as special notice or attention and the act of perceiving clearly. Many problems with retention and morale occur because management is not paying attention to peoples needs and reactions. Rewards are the extra perks you offer beyond the basics of respect and recognition that make it worth peoples while to work hard, to care, to go beyond the call of duty. While rewards represent the smallest portion of the retention equation, they are still an important one.

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You determine the precise methods you choose to implement the three Rs, but in general, respect should be the largest component of your efforts. Without it, recognition and rewards seem hollow and have little effector they have negative effects. The magic truly is in the mix of the three.

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY

Research Design: The research design indicates the type of research methodology under taken to collect the information for the study. The researcher used both descriptive and analytical type of research design for his research study. The main objective of using descriptive research is to describe the state of affairs as it exits at present. It mainly involves surveys and fact finding enquiries of different kinds. The researcher used descriptive research to discover the characteristics of customers. Descriptive research also includes demography characteristic of consumer who use the product. The researcher also used analytical research design to analyze the existing facts from the data collected from the customer.

Area of study: The area of study is confined to employees Retention Strategy of Shri. Venkateshwara University. Research instrument: The Structured questionnaire is used as the research instrument for the study. Questionnaire Design: The questionnaire framed for the research study is a structured questionnaire in which all the questions are predetermined before conducting the survey. The form of question is of both closed and open type.

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The scales used to evaluate questions are: Dichotomous scale (Yes or No) Likert 5 point scale (Highly satisfied, satisfied, Neither Satisfied nor dissatisfied, Dissatisfied, Highly dissatisfied) Category scale (Multiple items) Ranking type (R1, R2, R3)

The questionnaire for the research was framed in a clear manner such that it enables the respondents to understand and answer the question easily. The questionnaire was designed in such a way that the questions are short and simple and is arranged in a logical manner.

Pilot study: It is appropriate to conduct pilot survey to check the reliability of the questionnaire. So pilot study was conducted on 5 respondents which is a 10% of the sample.

Sampling design: A Sample design is a definite plan for obtaining a sample from a given population. It is the procedure used by the researcher in selecting items for the sample. Sample size: Sample size=100 samples, variance and confidence methods are used for determining sample size. Sampling Technique: The researcher adopted simple random sampling for the study.
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DATA COLLECTION METHOD

Primary data: Primary data is the new or fresh data collected from the respondents through structured scheduled questionnaire.

Secondary data: The secondary data are collected through the structured questionnaire, literature review and also from the past records maintained by the company.

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FINDINGS & ANALYSIS

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FINDINGS & ANALYSIS

1. Is your University Facing the problem of attrition? Yes No 60% 40%

4 0 % Y e s No 6 0 %

Interpretation: 60% employees were leaving the organisation as they find better opportunity.

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2. Whats your organization attrition rate? Attrition 15% Retention 85%

1 5 %

A ttritio n R eten tio n

8 5 %

Interpretation: The company is able to retain around 85% of employees whereas the rate of attrition is approx. 15%

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3. Have you done employee satisfaction survey? What are the findings? A) Yes, we found that our employees are happy with the University.

Happy unhappy

65% 35%

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3 5 % Hap p y Un Hap p y 6 5 %

Interpretation: 65% employees are Happy with the organisation efforts.

4. According to your survey what are the reasons for attrition? Competitors Better Salaries
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40% 60%

4 0 % C om p e titors Be tte rS alaries 6 0%

Interpretation: 40% attrition rate arises due to of Competitors & 60% attrition rate arises due to Better Salary offers.

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5. How do you cope with attrition? A) By providing Training B) personal development.

By providing Training By Personal development

60% 40%

40 % B y Train in g B yP e rson al d evelop m en t 6 0 %

Interpretation: 60% attrition can be cope with providing training & 40% by personal development.

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6. What are your retention strategies? A) Reward & Recognition B) Promotion & Fringe Benefit 70% 30%

Reward & Recognition Promotion & Fringe Benefit

30% Reward& Reco g n itio n P rom otio n & Frin g e Ben efit 70%

Interpretation: 70% retention strategies are based on reward & recognition and 30% are based on promotion & fringe benefit.

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7. What is your company success rate in retaining employees? Success rate Failures rate 80% 20%

2 0 %

S u cces s rate F ailu res rate

8 0 %

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Interpretations: By using retention strategy the success rates are 80%

8. What are the HR suggestions to Top Management to reduce attrition?

Good Training Calendar Salary rise as per market standards Better career growth Healthy environment at work place

30% 30% 20% 20%

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2 0 %

Go od T rain in gC ale n d er 3 0 % S alary rise as p er m arket stan d ard s Better caree rg ro wth

2 0 % 3 0 % He alth y en viro n m en t at work p lace

Interpretations: The retention of the employee in an organisation is depend on, 30% on Good Training calendar, 30% on Salary rise as per market standards, 20% on Better career growth & 20% on Healthy environment at work place.

9. What are the steps taken by the top management to reduce attrition?
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A) Good Training Calendar B) salary rise as per market standards C) better career growth D) healthy environment at work place

Good Training Calendar Salary rise as per market standards Better career growth Healthy environment at work place

30% 30% 20% 20%

2 0 %

Go od T rain in gC ale n d er 3 0 % S alary rise as p er m arket stan d ard s Better caree rg ro wth

2 0 % 3 0 % He alth y en viro n m en t at work p lace

Interpretations: The retention of the employee in an organisation is depend on, 30% on Good Training calendar, 30% on Salary rise as per market standards, 20% on Better career growth & 20% on Healthy environment at work place.

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10. What are the difficulties you face to retain your employees? High salaries of competitors unhealthy competition 40% 60%

4 0 % C om p e titors Be tte rS alaries 6 0%

Interpretation: 40% difficulties due to of Competitors & 60% difficulties due to of Better Salaries offers.

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11. How does you motivate your employees? A) With Concept better growth B) personal development through training

With concept better growth Personal development through training

40% 60%

4 0 %

With con cep tb etter g ro wth P erso n al d eve lop m en t th rou g h train in g

6 0%

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Interpretation: The motivation of employees depends 40% with the concept of better growth and 60% by personal development through training.

12. Which level of the organizational hierarchy results in leaving their jobs due to various reasons?? A) Top level Middle level Low level Top Level B) Middle Level 10% 80% 10% C) Low Level

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1 0 %

1 0 %

T op level Mid d le leve l L o w level

80 %

Interpretation: Middle level is more consider of the organizational hierarchy in leaving their jobs due to various reasons.

13. Who is the one who has the responsibility to retain the employee? IS that the Hr manager or some other? A) HR Manager Business Head HR Manager B) Business Head 40% 30%
90

C)Both

Both

30%

3 0 %

4 0 % HR Bu s in ess Head Both 30 %

Interpretation: HR Manager & Business Head both has the responsibility to retain the employees.

14. What is your company doing to improve retention?

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A) Career Development Career Development Reward & Recognition

B) Reward & Recognition, 40% 60%

4 0 % C are er Develop m en t Re ward & R eco g n itio n 6 0 %

Interpretation: The improvement of the retention can be done 40% by Career Development & 60% by Reward & Recognition.

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CONCLUSION

CONCLUSION

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Retention is an important concept that has been receiving considerable attention from academicians, researchers and practicing HR managers. In its essence, Retention comprises important elements such as the need or content, search and choice of strategies, goal-directed behaviour, social comparison of rewards reinforcement, and performance-satisfaction. The increasing attention paid towards Retention is justified because of several reasons. Motivated employees come out with new ways of doing jobs. They are quality oriented. They are more productive.

Any technology needs motivated employees to adopt it successfully. Several approaches to Retention are available. Early theories are too simplistic in their approach towards Retention. For example, advocates of scientific Management believe that money is the motivating factor. The Human Relations Movement posits that social contacts will motivate workers. Mere knowledge about the theories of Retention will not help manage their subordinates. They need to have certain techniques that help them change the behavior of employees.One such technique is reward. Reward, particularly money, is a motivator according to need-based and process theories of Retention. For the behavioral scientists, however, money is not important as a motivator. Whatever may be the arguments, it can be stated that money can influence some people in certain circumstance. Being an outgrowth of Herzbergs, two factor theory of Retention, job enrichment is considered to be a powerful motivator. An enriched job has added responsibilities. The makes the job interesting and rewarding. Job enlargement refers to adding a few more task elements horizontally. Task variety helps motivate job holders. Job rotation involves shifting an incumbent from one job to another.
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SUGGESTIONS AND RECOMMENDATIONS

SUGGESTIONS AND RECOMMENDATIONS

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SUGGESTIONS Employee should be provided with proper training. Employee should be appreciated for good work. Employee should be motivated to welcome the change. If any changes are brought in to software or any module is added then proper training should be given. Standard Salary should be given to the employee as per the market rate. Employee should be rewarded for their better performance. Some welfare activities should be conducted.

RECOMMENDATIONS

1. Develop an attractive employee value proposition.

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An employee value proposition means that your company has something attractive to offer that is perceived as valuable to an employee. as an employer, you must understand what makes your organization attractive to potential recruits and current employees. Branding yourself as an employer of choice is not just a slick set of marketing tactics. The best advocates for an employers brand are its current employees. What messages do they send to others about their employer? Are they honestly saying and believing that, This is a great place to work. 2. Create a total reward structure that includes more than compensation. Every company should have all the normal compensation mechanisms common to their type of employment. yet, total rewards packages go far beyond money. While money might temporarily retain employees, it does not always equate with engagement. People want a chance to make a difference and realize themselves. That self-realization is multi-dimensional and different for each employee. The total reward structure should include, in addition to compensation, support for employees to attain their personal objectives aligned with the goals of their organization. 3. Give feedback on employee performance on a regular basis. Most managers and employees are not enamored with the performance appraisal process in their organization. yet, an effective performance management process serves many purposes. Ongoing performance feedback allows employees to better know where they stand, gives them a formal means to provide input, indicates that their managers pay attention to them and that their performance matters. This feedback contributes to employee engagement and retention. 4. Be flexible in terms of work-life balance. Workers more and more value a balance between work and life. They want more flexible ways to engage with their employer.
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To attract and retain workers with different work and career expectations, organizations have to be more flexible in structuring work and its expectations. It calls for a different managerial mindset and practices that involve letting go of old ways of controlling workers time and attendance in favor of result criteria such as output, productivity and quality. 5. Create a culture of engagement. Employees have become more connected with others in the organization (and the broader supply-and-customer chain) through project-based team work and process management activities. Employees are shifting their loyalty to people, teams and projects and away from company loyalty. It is organizations that create the culture and climate that allow people, processes and projects to become fully connected and engaged with one another. Engaged employees are more likely to stay with their employer. 6. Train managers to be effective. Exit interviews consistently show that poor and bad management practices greatly contribute to an employees decision to leave a company. It is imperative to provide supervisors and managers with adequate tools to become effective managers since we cannot assume that these competencies are innate. .

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LIMITATIONS OF THE STUDY

LIMITATIONS OF THE STUDY

1. The findings of the study are subjected to bias and prejudice of the respondents. 2. Area of the study is confined to the employees in Moradabad only.
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3. Time factor can be considered as a main limitation. 4. The findings of the study are solely based on the information provided by the respondents. 5. The accuracy of findings is limited by the accuracy of statistical tools used for analysis. 6. Findings of the research may change due to area, demography, age condition of economy etc.

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BIBLIOGRAPHY

BIBLIOGRAPHY

Books:
1) Awasthapa. K (2001) Human Resource Management Tata MC Graw Hill 5 th edition 2) Bernadi (2000) Human Resource Management Tata Graw Hill 4 th edition 102

3) Desslar Gary (2003), Human Resource Management Prentice, Hall of India Put 9th edition 4) Kothari CR (2000) Research Methodology method & technology, New Delhi Wishwa Prakashan

WEBSITES: 1. http://www.hrdnetworks.com

2. 3.

http://www.hrdindia.com http://www.thesvu.com/school_communication.html

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ANNEXURE (QUESTIONNAIRE)

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QUESTIONNAIRE

1. Is your University Facing the problem of attrition? 2. Whats your organization attrition rate? 3. Have you done employee satisfaction survey? What are the findings? 4. According to your survey what are the reasons for attrition? Competitors, Better salaries,

5. How do u cope with attrition? 6. What are your retention strategies? 7. What is your company success rate in retaining employees? Success Failure

8. What are the HR suggestions to Top Management to reduce attrition? 9. What are the steps taken by Ur top management to reduce attrition? 10. What are the difficulties you face to retain your employees?
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High salaries of competitors unhealthy competition

11. How does u motivate your employees? 12. Which level of the organizational hierarchy results in leaving their jobs due to various reasons? Top level Middle level Low level

13. Who is the one who has the responsibility to retain the employee? IS that the Hr manager or some other? 14. What is your company doing to improve retention?

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