Professional Documents
Culture Documents
INTRODUCTION
Ayurveda is a 5000 year old Science of health care and herbal treatment. Ayurveda,
is highly effective in common and complicated ailments, assures long term relief and
has no side effects. Ayurveda is now backed by modern scientific research and
technologies and provides its gentle healing touch to millions around the world.
One of India's most respected Companies, Shree Baidyanath Ayurved Bhawan (p)
Ltd. (Kolkata), popularly known as Baidyanath , is the acknowledged leader of
Ayurvedic know-how. Established in 1917, the Company has played a pioneering
role in re-establishing ancient knowledge with modern research and manufacturing
techniques.
Shree Baidyanath Ayurved Bhawan (p) Ltd. was founded in 1917 by Late Pt. Ram
Dayal Joshi. Its registered office is in Kolkatta. To encourage and boost research in
Ayurveda, Baidyanath established Pt. Ram Dayal Joshi Memorial Ayurvedic
Research Institute at Patna in 1971. Baidyanath awards two lakh of rupees every
year for the best research paper or book on Ayurveda.
Besides being the manufacturer of the largest range of Ayurvedic Products in the
world, Baidyanath's achievements and strengths include:
<<Relationship>> <<Support>>
Relationship: - Sometimes the relationship with the management and the peers
becomes the reason for an employee to leave the organization. The management is
sometimes not able to provide an employee a supportive work culture and
environment in terms of personal or professional relationships.
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.
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.
ATTRITION
The attrition rate has always been a sensitive issue for all organizations. Calculating
employee turnover rate is not that simple as it seems to be. No common formula can
be used by all the organizations. A formula had to be devised keeping in view the
nature of the business and different job functions. Moreover, calculating attrition rate
is not only about devising a mathematical formula. It also has to take into account
the root of the problem by going back to the hiring stage.
Attrition = (No. of employees who left in the year / average employees in the year) x
100
Job is not what the employee expected to be: Sometimes the job responsibilities
don’t 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 won’t be able to perform it well and will
try to find out reasons to leave the job.
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 coworkers, seniors and management: Trust is the
most important factor that is required for an individual to stay in the job. Non-
supportive coworkers, 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.
Incentive
No work pressure
No structured feedback
Transparency in work
Quality work
Support
Communication
Environment
Compensation
They provide PF( provident fund ), ESIC (Employee State Insurance Corporation ),
Gratuity, Bonus .They provide motivational incentive on the basis of production .
NO work pressure
We found that the employees of this company were satisfied .They follow flexible
timings which means that the employees are given a target which they have to finish
within the time. Actions taken what if employees take leave more than schedule.
No structured feedback –
They have decentralized environment where free flow of communication is being
followed .Employees can discuss their family matters as well as work related
problems with their co-employees as well as higher level employees in order to seek
guidance as well as financial help.
Quality work
They manufacture 1600 Ayurvedic Medicines .Their core business is in Ayurvedic
Medicines.They got Nagarjuna Award in 2005 in Jaipur & in 2009 in Delhi for best
Quality by President of India. They are not only confined in selling products to their
native country but also export their quality products.
Environment
To give the family atmosphere they celebrate the Birthdays & Anniversaries of their
employees & give farewell to those who have worked for more than 5 years. This
shows that they are socially active as well.
CONCLUSION
We found that the employee retention of Baidyanath is more than 90%. Employees
are almost satisfied with their job & culture of the organization. For low & middle
level Employees Company goes for exit interviews in order to find out the reason.
Although there are some loop holes in its effective retention of its employees but
employees are still satisfied due to low work pressure, transparency in work culture
& support which it gets from the organization.
From our point of view company can provide Private health insurance, Personal
accident insurance, Permanent disability insurance, and Car / Cash allowance.