A PROJECT REPORT

On

Attrition analysis &

Retention strategies

At

Campusdais Lajpat Nagar, New Delhi

Submitted toJiwaji University

Gwalior

For the partial fulfillment of the award ofMaster of Business Administration

(2010-2012)Submitted by(Richa Yadav)

PRESTIGE INSTITUTE OF MANAGEMENT

GWALIOR (M.P)

DECLARATION

I, Richa Yadav, student of MBA IInd semester from “Prestige Institute of Management” affiliated

to Jiwaji University, Gwalior declare that all the information, fact & figures represented in this

report entitled “Attrition analysis & Retention strategies” are actually based on the material and

data collected by me.

Date: Richa Yadav

Place: MBA II Semester

ACKNOWLEDGEMENT

I express my deep sense of gratitude and indebtedness to Mr. Promad Kumar for his valuable

guidance, consistent encouragements untiring and continuous supervision and support at every

stage of project.

My sincere thanks to Ms. Kiranjeet Kaur for her valuable guidance in successful completion of

my project work. I am also thankful to Prof. Monika Mittal Department prestige institute of

management, Gwalior. For their help, support and interest in our work and for providing facility

to carry out the project work. At last but not the least I express my thanks to all those who

directly or indirectly helped us and encouraged us in carrying of this work.

CERTIFICATE

This is to certify that Ms. Richa Yadav students of MBA IInd Semester of Prestige Institute of

Management Gwalior, has completed her summer training of 6 weeks (from 16 th May 2011 till

30th June 2011) and prepared this report under my guidance.

(Attrition analysis and retention strategies)

Prof. Monika Mittal

INDEX

1) History of Organization

2) Organization Structure

3)Personnel: Recruitment process,training and

development.

3) Production/Operations: Product/services offered,

Quality control, material planning

4) Marketing: areas of operation, competitors, market

share, advertising and sales promotion

5) Strength & Weakness of Organization

6) Suggestions

7) Board of directors

8) INTRODUCTION- Motivation of Employees

9) Types

10) Objectives

11) Functions

12) Types

13) Advantages

14) Importance

15) Elements

INTRODUCTION

Campusdais.com is a subsidiary of Seven Eleven Advisors Pvt. Ltd. initiated to revolutionize the

campus recruitment process. Whereas traditional campus recruitment is associated with minimal

contact between organizations and colleges, career information sessions delivered to a limited

number of candidates, and a level of disconnect between educational learning and employment

needs, campusdais.com provides a refreshing new approach to address the gaps in campus

recruitment.

At campusdais.com, we bring together students, organizations, faculty, and colleges in a secure

online community to create a more effective recruitment process. Campusdais.com is all about

connecting. For organizations, we connect you with an authenticated student database that can be

filtered to match your employment needs. For colleges, we connect you with employment

resources that will boost your institute’s reputation among employers. For faculty, we connect

you with other members of the academic community and guest lecturer opportunities.

For students, we connect you with skill development and job opportunities. At the core of these

connections is our knowledge centre that encourages dialogue between students, companies,

faculty, and colleges. Our knowledge centre is uniquely positioned to facilitate talent

development with pre-placement activities developed by companies, career-related articles and

events, and group discussion forums. We believe that in order to find the right candidate, we

must also provide opportunities to develop the right candidate.campusdais.com is committed to

redefining what it means to connect tomorrow’s employment needs with today’s talent.

Campusdais.com has successfully completed its first year of operations with over 100 partner

organizations and over 170 partner colleges, over 60,000 faculty members, and over 18, 000

students registered in our online community.

WORDS OF CAMPUSDAIS: WHY WE ARE DIFFERENT

Unlike other business houses, Corporate Social Responsibility (CSR) is a Campusdais Value and

is embedded in our Governing Objective. Campusdais is an online community for students,

companies, faculties, and colleges. Our operations benefit the society by connecting the gap that

exists between these entities, providing resource efficiency, and connecting people. At the same

time, we believe in maximizing opportunities for these entities that have not been explored by

anyone yet. We commit to mitigate and reduce the impacts on the growing education industry by

“Providing more opportunities to all” and “Reducing the time and efforts for all”.

Our CSR commitment is not only an ethical, values – driven Endeavour, but also a value-

creating business practice, enhancing our reputation, strengthening our license to operate and

improving our competitiveness. Moreover, it is a source of pride and motivation for our people,

adding to our ability to attract and retain good people.

We at campusdais.com believe that by working in partnership with each other, we can connect

tomorrow’s employment needs to today’s talent more effectively.

OUR ACTIVITIES

 In 2010, campusdais.com conducted 8 job fairs, 40 campus drives, 30 seminars, 1 college fest,

and 5 national industrial visits.

Connecting Students

At campusdais.com, your students will become part of a secure online community dedicated to

optimizing their employment potential. Whether it is creation of a global profile visible to our

network of employers or gaining employment knowledge through the knowledge centre or being

invited to exclusive campusdais.com careers events, we provide opportunities to enhance a

student’s employability. The knowledge centre is particularly helpful with articles on resume

writing and interviews, pre-placement activities created and posted by companies, and discussion

boards open to all campusdais.com members.

Connecting with the Talent

Campusdais.com would like to work in partnership with your organization to create a more

effective campus recruitment process for both organizations and colleges and address the

concerns of traditional campus recruitment. Campusdais.com is a unique platform in the

recruitment process in that we provide your organization access to database of over 18,000

students that can be filtered according to your employment needs. In particular,

campusdais.com can enhance your organization’s recruitment strategy by broadening the talent

pool from which you recruit and improving employment matches, all without additional costs to

you. Our campusdais.com database and advanced search tool were specially designed for this

purpose.

Distinctive features of the database include authenticated course marks provided by the colleges

and results of a National - Sourcing Assessment Test (N-SAT) that gauges a student’s ability in

English, Aptitude, and their Core Subject. Shortlisted candidates can then be invited to a campus

drive arranged between your organization and campusdais.com so that you can screen them in-

person; therefore, improving your chances of finding the right candidate.

Connecting Colleges

Campusdais.com would like to work in partnership with your college to bring added value to the

recruitment process for your college, faculty, and students. For your college, campusdais.com is

a branding opportunity to develop your reputation among a wide network of organizations and

colleges. At no extra financial cost to you and in partnership with campusdais.com, your college

will benefit from a dedicated online profile page visible to our networks and campus engagement

activities that will generate publicity for your institute. These activities include:

Student Exchange Program

Leadership Development Program

Industry Visits, Seminars & Summits

Summer Internship Program (National)

Campus Recruitment Program

Connecting Faculty

At campusdais.com, your faculty will benefit from access to India’s first ever online academic

community. With over 60,000 members, faculty can network with some of the nation’s best

minds, stimulate dialogue in their areas of specialization, and source professors or guest lecturers

for their courses. Visiting faculty, in particular, can benefit from using campusdais.com as a

platform to connect with colleges, promote their event, or encourage discussions before and/or

after their visit. Faculty will also be able to use campusdais.com as a medium to connect with

organizations. They can source corporate guest speakers or engage in dialogue to address gaps

that exist between educational learning and employment needs providing students with the

relevant tools to transition smoothly to the workplace.

Connecting with the campusdais.com Community

At campusdais.com, we also believe that in order to find the right candidate, we must provide

opportunities to develop the right candidate. By taking a proactive approach, your organization

can gain a competitive advantage in the recruitment process by generating more suitable

candidates for your company.

The campusdais.com knowledge centre provides an opportunity for your organization to engage

interested students in discussion or pre-placement activities like case studies to help promote

organizational understanding. Your organization can also engage faculty in discussions to

address gaps that exist between educational learning and employment needs or employ the use of

the faculty database of over 60,000 faculties to source consultants for projects. Furthermore, your

organisation will have the opportunity to host or participate incampusdais.com campus events

geared towards creating value for and promoting your organization.

 

 

MANAGEMENT PHILOSOPHY

VISION

MISSION

To expand our roots to each corner of the country for the student welfare and to create more

effective recruitment process so that students can get right platform and right path to grasp

opportunities to ensure their bright future.

OBJECTIVES OF CAMPUSDAIS

1. To schedule interviews, recruits, and selects potential employees for the organization. 

2. To develop and implement the best recruitment practices and help the organization to

achieve their recruiting goals and objectives.

3. To work for a recruiting firm or a human resource department.

4. To ensure that recruitment procedures are clear, valid and consistently applied by those

involved in recruitment and that they provide for fair and equitable treatment for those

who apply for employment.

5. To base selection decisions and criteria directly on the demands and requirements of the

job and the competencies identified as necessary for satisfactory performance.

ACTIVITIES OF CAMPUDAIS

Campus Drives

At the heart of campusdais.com activities is our campus drives. Campus drives are campus

recruitment sessions that connect organisations with todays talented students for the purposes of

employment. At campusdais.com, we have a dedicated team working closely with our partner

companies and colleges to deliver campus drives that create value for both students and

companies. We work to optimize job opportunities for students across our partner colleges and at

the same time, we work to minimize the efforts made by our partner companies in looking for the

right candidate.

In 2010, campusdais.com organised over 40 campus drives and 8 job fairs and connected over

400 students. To register with campusdais.com, please visit our membership page or contact your

campusdais.com representative. 

Campus Drives organised by Campusdais for the students.

Internships

Internships can be a valuable first step in transitioning from the academic life to the work life.

An internship is a short work placement, usually between 1-3 months, that allows students to

gain practical experience in a professional setting related to their field. Interns have the

opportunity to work on real-time company projects, learn from others in the industry, and

develop their communication, time management, and networking skills. In return, organisations

benefit from fresh perspectives, new energy, and a platform to evaluate candidates for future

employment. At campusdais.com, we are working closely with organisations to bring these

valuable internship opportunities to our members. 

Internship opportunities to the students by Campusdais

Industrial Visits

Company visits can complement classroom learning by providing a real-life component to

educational learning. Company tours allow groups of students to gain first-hand insight into a

company’s day-to-day operation, ask questions of employees and managers, and learn about

challenges faced by organizations and how they overcome them. At campusdais.com, colleges

are able to connect with our network of over 100 organizations to provide this added depth of

learning to their students.

Industrial Visit organized by Campusdais for the students

Seminars

Seminars are information sessions designed to help campusdais.com members learn how to showcase

their potential and develop their employability. From advice on resume writing to interview tips to

career information sessions, campusdais.com provides a variety of seminars to address your career

needs.

N-SAT

This test has been designed by industry experts, keeping in mind the general format and level of

testing being done by corporate during the recruitment process. This is designed in such a way to

examine the aptitude level of the appearing students which helps to carry the further procedure in

effective and efficient manner. It contains various sections of different subjects.

 

SOME PARTNER COLLEGES

Tasmac

Kanpur institute of technology

Shri guru ram rai institute of tech

Punjab club

B m institute of engineering and technology

University of petroleum and energy

Roorkee institute of technology

accurate institute of management a

Guru nanak institute of management

Madhya pradesh club

Gssdgs khalsa college

Greater noida club

Mata gujri college

Army institute of management & tech

Prestige institute of management

Nimbus academy of management

Mangalayatan university

Campusdais marketing students club

SOME PARTNER COMPANIES

Wipro

Infosys

Robosapiens

Jaggo overseas

Shriram city union finance limited

New era India consultancy Pvt ltd

Infodrive India Pvt ltd

MPRC

Axis securities & sales ltd.

Next retail India ltd.

Ramy InfoTech

Ids infotech ltd.

Brand gain

MTouch technologies

CBS technologies pvt.ltd

Dutta press

Courtyard by Marriott

QA InfoTech Pvt ltd

Ambridge staffing solutions

Jkm Makfin Pvt ltd

RECRUITMENT PROCESS

Recruitment refers to the process of attracting, screening, and selecting qualified people for

a job. The stages in recruitment include sourcing candidates by advertising or other methods,

screening potential candidates using tests and/or interviews, selecting candidates based on the

results of the tests and/or interviews, and on-boarding to ensure the candidate is able to fulfill

their new role effectively.

The recruitment and selection is the major function of the human resource department and

recruitment process is the first step towards creating the competitive strength and the strategic

advantage for the organizations. Recruitment process involves a systematic procedure from

sourcing the candidates to arranging and conducting the interviews and requires many resources

and time.

In the competitive world today, people need to pursue different ways to locate the ideal

employment opportunity. The competition has grown intense with numerous graduates and post-

graduates on the lookout for jobs and the limited capacity of the job market. In such a situation,

searching for a job all by company is quite difficult and may take a lot of time. Companies have

to go through all the hassles of searching for different vacancies and attending a number of

interviews. However, this task can be made simpler with the help of qualified and experienced

recruitment consultants who can guide them through the various steps involved in the process.

And Campusdais is one which is better than these consultants.

Campusdais has the expertise to help in taking all the right steps so that students get their dream

job. It basically plays a dual role by helping job seekers as well as employers. Many big

companies wish to shorten their recruitment process and save themselves from going through the

mountains of applications and CV’s to find the best candidates. For this purpose, campusdais

send them the most suitable candidates.

Apart from this, it also advises the candidates on their, presentation and interview skills. It helps

the candidate make the job search more fruitful through different tactics. Moreover, getting

registered with campus dais is quite easy and affordable. It advises them on how to search for the

correct vacancies online and how to apply for the role thus saving time and money. Therefore, by

registering themselves with a renowned recruitment agency they can boost their chances of

getting placed in a reputable company. It can provide effective recruitment solutions but they

alone cannot guarantee a placement. The thing more important here are the qualifications and

skills of the individuals and their capabilities. A combination of both the individual skills and

correct recommendations are necessary for a great career.

BASIC STEPS INVOLVED IN RECRUITMENT PROCESS

1. It conducts N-SAT to shortlist the students and to categorize them into different levels.

2. These shortlisted students are being prepared for different levels of interviews and do

efforts to rectify their weak points so that they can get prepared for the recruitment

procedure of the organization.

3. Then, the companies are invited for the campus drives in respective colleges

4. All the further recruitment procedures are taken care by the company.

TRAINING & DEVELOPMENT

The quality of employees and their development through training and education are major factors

in determining long-term profitability of a small business. If we hire and keep good employees, it

is good policy to invest in the development of their skills, so they can increase their productivity.

Training often is considered for new employees only. This is a mistake because ongoing training

for current employees helps them adjust to rapidly changing job requirements.

Therefore, Campusdais provides training to their employees every month once or twice as per

needed for their and company’s development.

Purpose Of Training And Development

Reasons for emphasizing the growth and development of personnel include

Creating a pool of readily available and adequate replacements for personnel who may

leave or move up in the organization.

Enhancing the company's ability to adopt and use advances in technology because of a

sufficiently knowledgeable staff.

Building a more efficient, effective and highly motivated team, which enhances the

company's competitive position and improves employee morale.

Ensuring adequate human resources for expansion into new programs.

Research has shown specific benefits that a small business receives from training and developing

its workers, including:

Increased productivity.

Reduced employee turnover.

Increased efficiency resulting in financial gains.

Decreased need for supervision.

PRODUCTION/OPERATIONS

1. Campusdais provides a social student community in which the students of different

universities,colleges get registered themselves from where they can get many

informaton regarding the current events,seminars organised by campusdais.

2. In this community,the employees of campusdais are also registered to handle the

queries of the online students.It is also the source of getting feedback from them to

improve the way of conducting the upcomping events .

3. Campusdais always keep their contact with the corporates and the colleges to fulfill the

need of both the parties.

4. It also provides the social community on facebook to interact with different kind of

people,to share the knowledge between them.

5. All the new about the upcoming organising events are communicated to the students

through e-mail and by sending messages on their personal cell phones.

FUTURE PLANS

To increase efficiency and productivity of an organization.

Enable company to become more proactive towards students welfare.

Enhanced call monitoring for improved service quality.

To expand its roots to overall India.

MARKETING

AREA OF OPERATION The area of operation is from New Delhi across the states of North India.The services are

provided to the 100 companies and 170 colleges .

ADVERTISING & SALES PROMOTION

Advertising is the dissemination of information by non-personal means   through paid media

where the source is the sponsoring organization. Sales promotion is the dissemination of

information through a wide variety of activities other than personal selling, advertising

and publicity which stimulate consumer purchasing and dealer effectiveness. Advertising is the

most important tool of increasing awareness of the product and this is the most widely used

technique by the company to tell about the new features and new lunch by giving briefing of the

product.

CAMPUSDAIS advertises through following:

Banners

Distribution Of Pamphlets

Magazines

Conducting seminars

STRENGTH AND WEAKNESSES OF CAMPUSDAIS

STRENGTHS:

Effective Communication

Online Growth

Loyal Customers

Pricing

Increased internet Usage

Unique products

Strong reach to the masses

WEAKNESSES

Not Diversified

Less Competitive

Less Small Investors

Infrastructure not upto the mark

SUGGESTIONS

1. It should be more diversified to other parts of the country to widen their area of operation.

2. It should try to connect with big and renowned companies to enhance its goodwill.

3. It should try to interact with the students frequently.4. It should provide better facilities in compare with their competitors to supersede them.

I had done my training under the supervision of:-

 

Pramod KumarDirectorTel: +91 9560888588pramod@campusdais.com

 

Kiranjeet KaurManager - Campus Relation(HR)Tel: +91 9711133085kiran@campusdais.com

INTRODUCTION TO ATTRITION

"A reduction in the number of employees through retirement, resignation or death"

In the best of worlds, employees would love their jobs, like their coworkers, work hard for their

employers, get paid well for their work, have ample chances for advancement, and flexible

schedules so they could attend to personal or family needs when necessary. And never leave.

But then there's the real world. And in the real world, employees, do leave, either because they

want more money, hate the working conditions, hate their coworkers, want a change, or because

their spouse gets a dream job in another state. So, what does that entire turnover cost? And what

employees are likely to have the highest turnover? Who is likely to stay the longest?

ATTRITION RATE

Attrition rate can be defined as the rate of shrinkage in size or number of the workforce of an

organization. A formula had to be devised keeping in view the nature of the business and

different job functions. Attrition rates can be calculated using a simple formula:

Attrition = (No. of employees who left in the year / average employees in the year) x 100

Besides this, there are various other types of attrition that should be taken into account. These

are:

Fresher attrition that tells the number of freshers who left the organization within one

year.

Critical resource attrition which tell the attrition in terms of key personnel like senior

executives leaving the organization.

Low performance attrition: It tells the attrition of those who left due to poor

performance.

MAIN CAUSES OF ATTRITION

JOB SATISFACTION

Employees seek a job, which offers them stratosphere level of responsibility and high growth of

trajectory. If the organizations do not deliver on these expectations, employ exodus cannot be

contained.

SALARY AND PERKS

There may be any number of reasons as to why an employee leaves and one of the major facts is

the money. Nowadays companies have started wooing the best of the talents with mind boggling

salary levels and attractive designations.

WORK ENVIRONMENT

An employee may leave an organization if the fairness of the system does not inspire his/her

confidence. Organizations, which pay scant regards towards employee safety and care, will also

have to face the mounting attrition levels.

PRESSURE OF WORK

Companies in their zeal to squeeze out every little ounce of productivity from their employees

and further increase profitability may opt for less number of employees. In such situation

employees will be constrained to rethink their priorities and join an organization that promises a

relaxed piece of work.

RELATIONSHIP WITH SUPERVISORS AND CO-WORKERS

If the supervisor lacks confidence, empathy and trust in employees, they will fail to command

the respect of the sub-ordinates. Similarly lack of cordial relationship with co-workers will also

cause high rate of attrition.

MISCELLANEOUS

In addition to all the above factors some of the other causes of attrition can be health condition of

the person, geographical location and competency in the working environment.

COSTS INVOLVED WITH THE TERM “ATTRITION”

A. Recruitment cost

Time spent on sourcing replacement

Time spent on recruitment and selection

Travel expenses, if any

Re-location costs, if any n Training/ramp-up time

Background/reference screening

B. Training and development cost

Training materials

Technology

Employee benefits

Trainers’ Time

C. Administration cost

Set up communication systems

Add employees to the HR system

Set up the new hire’s workspace

Set up ID-cards, access cards, etc.

BENEFITS OF ATTRITION

Attrition rates are considered to be beneficial in some ways:

If all employees stay in the same organization for a very long time, most of them will be

at the top of their pay scale which will result in excessive manpower costs.

When certain employees leave, whose continuation of service would have negatively

impacted productivity and profitability of the company, the company is benefited.

New employees bring new ideas, approaches, abilities & attitudes which can keep the

organization from becoming stagnant.

There are also some people in the organization who have a negative and demoralizing

influence on the work culture and team spirit. This, in the long-term, is detrimental to

organizational health.

Desirable attrition also includes termination of employees with whom the organization

does not want to continue a relationship. It benefits the organization in the following

ways:

1. It removes bottleneck in the progress of the company

2. It creates space for the entry of new talents

3. It assists in evolving high performance teams

There are people who are not able to balance their performance as per expectations, lack

potential for future or need disciplinary action. Furthermore, as the rewards are limited,

business pressures do not allow the management to over-reward the performers.

Some companies believe attrition in any form is bad for an organization for it means that a

wrong choice was made at the beginning while recruiting. Even good attrition indicates loss as

recruitment is a time consuming and costly affair. The only positive point is that the realization

has initiated action that will lead to cutting loss.

MEANING OF RETENTION

Employee retention is a process in which the employees are encouraged to remain with the

organization for the maximum period of time or until the completion of the project.

Employee retention is beneficial for the organization as well as the employee. Employees today

are different. They are not the ones who don’t have good opportunities in hand. As soon as they

feel dissatisfied with the current employer or the job, they switch over to the next job. It is the

responsibility of the employer to retain their best employees. If they don’t, they would be left

with no good employees. A good employer should know how to attract and retain its employees.

Retention involves five major things:

Compensation

Environment

Growth

Relationship

Support

Employee retention would require a lot of efforts, energy, and resources but the results are worth

it.

1) Compensation

Compensation constitutes the largest part of the employee retention process. The employees

always have high expectations regarding their compensation packages. Compensation packages

in CAMPUSDAIS vary from designation to designation between the employees within the

organization. So an attractive compensation package plays a critical role in retaining the

employees. Compensation includes salary and wages, bonuses, benefits, prerequisites, stock

options, bonuses, vacations, etc. While setting up the packages, the above components should be

kept in

2) Organization Environment

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

Types of environment the employee needs in an organization

Learning environment

Support environment

Work environment

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.

3) Growth and Career

Growth and development are the integral part of every individual’s career. If an employee can

not foresee his path of career development in his current organization, there are chances that he’ll

leave the organization as soon as he gets an opportunity.

The important factors in employee growth that an employee looks for himself are:

Work profile

Personal growth and dreams

Training and development

4) 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. There are times when an employee starts feeling bitterness

towards the management or peers. A supportive work culture helps grow employee

professionally and boosts employee satisfaction. To enhance good professional relationships at

work, CAMPUSDAIS focuses more on the following points:

Respect for the individual

Relationship with the immediate manager

Relationship with colleagues

Recruit whole heartedly

Promote an employee based culture

Individual development

Induce loyalty

5) Support

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

Managing Employee Retention

The task of managing employees can be understood as a three stage process:

Identify the cost of employee turnover

Understand why employee leave

Implement retention strategies

RETENTION SUCCESS MANTRAS

A) Transparent Work Culture

In today’s fast paced insurance industry where employees are constantly striving to achieve

business goals under time restrictions; open minded and transparent work culture plays a vital

role in employee retention. CAMPUSDAIS Invests many hours and monies in training and

educating employees. 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. Employees comprise the most vital assets of CAMPUSDAIS and company

provides a work place where employees are able to use their full potential.

B) Quality Of Work

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 individual’s 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

CAMPUSDAIS program are improved working conditions for the employee and increase

organizational effectiveness.

C) Supporting Employees

Employers can 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 advance and implemented when the times arrives.

Turnover costs should also be taken into consideration while framing these strategies.

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.

Communication Between Employee and Employer

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.

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.

Importance Of Employee Retention

The Cost of Turnover will be reduced.

Company Knowledge can be secured more efficiently.

Customer Service can be improved.

Goodwill of the company will spread.

Efficiency can be regained.

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

METHODOLOGY

(A) OBJECTIVES

1. The objective of the research done for the company was to know about the causes of

increasing rate of attrition in the company of its employees and finding out some more

retention tools apart from what company is already using.

2. Moreover the secondary aim was also to find out the causes of attrition and to study the

various retention strategies used by the company by getting response from the employees

who are going to leave or already left CAMPUSDAIS.

(B) THE STUDY DESIGN

The design used in the project is Exploratory Research Design. It is the initial research

conducted to clarify and define the nature of the study. It is the qualitative analysis of

information collected through all possible sources. Therefore information collected is subjective

in nature.

The other design used for the study is descriptive under conclusive design. It is a quantitative

design where the defined hypothesis is tested on the basis of primary data which is collected with

the help of a structured tool called questionnaire.

Therefore, the research work is descriptive in nature and is studied to provide the basic

information required by the research objectives.

(C) SAMPLE DESIGN

The study was done with a sample size of 100 respondents.

(D)THE TOOL USED:-

1. for data collection

Self design questioner was used to measure the attrition and retention rate in the

organization.

2. For data analysis

RESEARCH ANALYSIS

SATISFACTION WITH SALARY, COMPENSATIONS AND OTHER

BENEFITS

PERCEPTION REGARDING GROWTH OPPORTUNITIES

PERCEPTION TOWARDS COMPANY’S TERMS AND CONDITIONS

PROBLEM OF MONOTONY IN JOB PROFILE

WORKING ENVIRONMENT IN CAMPUSDAIS

RELATIONSHIP WITH IMMEDIATE SUPERIOR AND COLLEAGUES

APPRAISAL SYSTEM IN CAMPUSDAIS

ORGANIZATION’S STEP TOWARDS EMPLOYEES PERSONAL

PROBLEMS

SEARCH FOR BETTER JOBS

RETENTION TOOLS WHICH HDFC SL CAN ADOPT

RESULTS

Most of the people surveyed were satisfied with the working conditions provided by

CAMPUSDAIS and they were very much aware of the company’s product & their

comparative advantages over the competition in the market.

Job profile provided by the company was also liked by the respondents.

There were respondents who were having a good experience of working with

CAMPUSDAIS. It was clear and evident from the study that there was no problem like bad

behavior of colleagues and superiors in the organization.

Most of the respondents were fully aware of the company’s terms and conditions since

joining the organization.

The problem was present in the training and development part. Employees were not satisfied

with the type and schedule of training and development programmes run by the organization.

Further, the next problem that was evident in the form of entrance of new life insurance

players in the market.

Employee’s appraisal system was also found to be one of the causes of attrition.

CONCLUSION AND SUGGESTIONS

During the project, I found the causes or reasons of increasing attrition in CAMPUSDAIS and I

think these can be removed or can be overcome by taking necessary steps. There I would like to

suggest few points or some retention tools over which top management should think and take

corrective action to overcome those causes due to which CAMPUSDAIS and various similar

companies are facing high rate of attrition. The basic practices which should be kept in mind in

the employee retention strategies are:

Hire the right people in the first place.

Empower the employees: Give the employees the authority to get things done.

Make employees realize that they are the most valuable asset of the organization.

Have faith in them, trust them and respect them.

Provide them information and knowledge.

Keep providing them feedback on their performance.

Recognize and appreciate their achievements.

Keep their morale high.

Create an environment where the employees want to work and have fun.

Finally, winding up the project in an organization, Human Resource is the most important asset

of any organisation. The success of any organisation ultimately depends on how efficient and

effective its manpower is. Therefore the main aim of the organization must be to retain its

talented employees for longer time duration. Moreover it improves employee job performance

and encourages employees to express their views. Broaden their outlook, capacity and potential

with the effective utilization of manpower.

QUESTIONNAIRE

NAME……………………………………………………………………………............................

AGE……………………………………………………………………………………………….

GENDER…………………………………………………………………………………………

1) How much you were satisfied with the salary, compensations and other benefits provided

byCAMPUSDAIS?

Highly Satisfied Somewhat Satisfied

Highly Dissatisfied Somewhat Dissatisfied

Neither satisfied nor dissatisfied

2) Were you satisfied with the kind of growth opportunities in CAMPUSDAIS?

Yes No

3) Were company’s terms and conditions one of the factors that influenced you to leave?

Yes No

4) Were you facing any problem of monotony in job profile in CAMPUSDAIS?

Yes No

5) How would you rate the working environment provided in CAMPUSDAIS?

Excellent Good

Average Poor

6) How was your relationship with your immediate superior and your colleagues in

CAMPUSDAIS?

I Richa Yadav the students of “I Richa Yadav the students of “PRESTIGE INSTITUTE OF MANAGEMENTPRESTIGE INSTITUTE OF MANAGEMENT GWALIOR” GWALIOR” are undergoing a research project as a part of our summerare undergoing a research project as a part of our summer training. In this project training. In this project ‘Attrition Analysis & Retention Strategies’‘Attrition Analysis & Retention Strategies’ in in CAMPUSDAISCAMPUSDAIS will be studied. The information provided by you would be will be studied. The information provided by you would be used purely for academic purpose.used purely for academic purpose.

Excellent Good

Average Poor

7) How was the appraisal system of the employees in CAMPUSDAIS?

Highly Satisfied Somewhat Satisfied

Highly Dissatisfied Somewhat Dissatisfied

8) Does organization takes care of employees personal problems?

Yes No

9) Did the search for better jobs become a major reason for you to leave the CAMPUSDAIS?

Yes No

Can’t say

10) What do you think CAMPUSDAIS Company can do to retain its employees for a longer

time?

Salary increment Promotion

Transfer to preferred location others

BIBLIOGRAPHY

Books :

1) Human Resource Management by V.S.P.Rao

2) Human Resource Management by K. Aswathappa

3) Human Resource Management by Gary Desseler

4) Research Methodology by Kothari

Search Engines :

Google

Internet Sites :

www.wikipedia.com

www.campusdais.com