Interview Follow Up or Thank You Letter :: Interview Follow Up Thank You Letters

Kara Kreme 1234 Tennis Court Sports, CA 95616 (530) 765-4321 kkreme@email.edu March 1, 2001 Ms. Kristi Krispy, Coordinator The Internship and Career Center University of Somewhere One Chance Avenue Sports, CA 95616 Dear Ms. Krispy, Thank you for the opportunity to interview for the position of Student Advisor this afternoon, Friday, March 1, 2001. It strengthened my interest in the position and reinforced my confidence in my ability to excel should I be selected for the position. My experience working with fellow Somewhere students, organizational skills, and work ethic would benefit students visiting the ICY, and would allow me to grow professionally. My position as a Resident Advisor in Dasher Hall provides me with outstanding training. As we discussed in today’s interview, selection is a very personal issue for most students. As an RA, I am often praised for my ability to work with residents on issues that require sensitivity. I am fortunate to balance my strong people skills with strong organizational skills. I realize that during the interview I may not have emphasized my administrative abilities as fully as I would have liked. Thanks to my summer job with LK&N, I have extensive experience meeting deadlines, maintaining records, and generating reports. In fact, the database I am most familiar with is ACCESS, the program used by ICY Student Advisors. I trust that my ability to perform the job will be evident if you talk with Resident Director Donna Donalds, my supervisor at Somewhere Housing. To verify my administrative skills I encourage you to contact Megan Megster, Customer Records, LK&N, at (999) 454-5454. Her name is not on the Reference Sheet I left with you at the conclusion of the interview. In closing, I would like to restate my interest in the Student Advisor position with the Somewhere Internship and Career Center for the 2001-2002 academic year.

A Study on Attrition Level

CHAPTER – 1 INTRODUCTION Attrition our asset walk out of the door each evening, we have to make sure that they come back the next morning, says Narayana Murthy chief mentor of Infosys. Attrition meaning: â€Å"A reduction in the number of employees through retirement, resignation or death† The upshot, from an organization’s perspective, is greater staff turnover or, in some cases, the development of an ‘employee- retention problem’. It is increasingly hard and more expensive to find suitable replacements quickly when people leave, leading to inefficiencies and lost business opportunities.Moreover, because people are occupying more highly skilled jobs, greater potential damage is done to organizations when people leave. Precious accumulated knowledge and experience leaves through the front door with them when they go. Despite these truths about our contemporary business environment, many managers seem to find it hard to adjust. There remains a tendenc y to run organizations in quite an autocratic, inflexible, controlling kind of way.Unwanted staff turnover results because attractive, alternative job opportunities are more readily available, yet this rarely seems to lead to any kind of critical self-appraisal of the way we manage our people. The truth is that most times when there is an unwanted resignation it should be seen as an organizational failure. A valued asset in which the organization has invested time and resources has been lost. This should lead us to reflect on the causes, to think about how things could have been made to turn out differently, and to adjust our practices so that the chances of its happening again are reduced.However, such a response is rare. Instead, we brush aside the departure, blame everything and everyone but ourselves, and cheerfully resist the need to change the way we operate. In tight labour markets this just results in higher levels of unwanted staff turnover. Self-evidently, it is necessary to find out why people are leaving our organization before we can put in place measures to improve the employee-retention record. Individuals may choose to resign their jobs for many different reasons, but there is a tendency for some to be more significant than others among specific groups of employees or in certain organizations.Particular professions have evolved their own labour market dynamics, with the result that the leaving behavior displayed by some occupational species differs from that of others. Moreover, departures take different forms and occur in different patterns according to prevailing organizational circumstances, much depending on culture, management orientation and competitive position. With more and more stores opening each year and trading hours continually expanding, employees with the right skills and experience have little difficulty to find new employment.If people become unhappy in their jobs, they do not need to stay around trying to sort problems out. I nstead they go and work elsewhere. Aside from its relative fluidity, the retail labour markets have other characteristics that make it rather different from others. Many are attracted to the industry by the hours of work and want hours that allow them to work around those of their partners. Why do employees leave the organization? There are a number of reasons for employees leaving the organization. Well, the most obvious reason for employees leaving any organization is higher pay.The main problem here is that employees are moved from one location to another location along with their family. But this problem is taken care of by a salary hike which may be around 20%-35% per annum. Another factor is work timings. In some organizations, work timings are such that they are making employees leave the organization. Another factor is career growth. In many organizations, only 20% of employees are able to go to senior levels. This means that the remaining 80% of employees look for other org anization where they can get opportunities for growth.One more reason for leaving the organization is higher education. These days, in many organizations, employees are joining at very young age because of lucrative salaries being offered. But with time, they apply for higher education and try to move on to other organizations or sectors to occupy top management positions. The percentage of women workers is also responsible for higher attrition rate. These days, the percentage of women workers is around 30%. Generally, women workers leave the organization after marriage to take up their house-hold duties, irregular work hours. 80% of employee urnover can also be attributed to the mistakes during hiring process. Other factors include accident making the worker permanently incapable of doing work, dislike for the job or place, unsatisfactory work conditions leading to strained work relationships with the employer; lack of security of employment et al also contribute for higher attriti on rate. Cost of attrition There are a number of costs which are incurred by a BPO when they hire any new employee these costs can be in terms of monetary or can be in terms of monetary or can be in terms of time wasted or any other intangible things.Some of these costs can be as stated below:- 1. Hiring or Recruitment Costs: Costs of advertisement, agency costs, employee referral costs, internet posting costs, etc 2. Training Costs: Induction program costs, lodging costs during that period, orientation material costs and cost of person who conducts orientation 3. Low Productivity Costs: As new employee is learning new job, company policies, etc. , they are not fully productive. 4. New Hiring Costs: Cost of bringing new person aboard, time taken in understanding the job of the employee who left and other perks given. 5.Low Sales Cost: Experience and the contacts that were lost, time for which the position was vacant and other such things which result in either loss of customers or l ower sales. Role of HR Department: Attrition Rate is good for the organization as long as the rate is at normal level. This will help the organization to get new blood into the organization and for the organization to develop. But it becomes a problem when the attrition rate is abnormal. Therefore, HR Department has the most crucial role to play in any organization. At the time of conducting interviews, the HR personnel try to bring right candidate to the right job.Similar is true even when the attrition rate is abnormal, so they have a very crucial role to play. Following are some of the tips to reduce attrition rate: – Hiring individuals who are truly fit to succeed in the position for hire will dramatically increase the chances of that employee being satisfied with his or her work, and remaining with the company for an extended period of time. Employees should not only be selected on the basis of communication skills and educational qualifications. Communication of employe e's roles, job description and the responsibilities within the organization, new policies will help to retain employees.Participative Decision Making – It is incredibly important to include employees in the decision making process, especially when decisions are related to employees. This can help to generate new ideas and perspectives that top management might never have thought of. Sharing of Knowledge with Others – Allow the members to share their knowledge with others. This helps in retention of information. This also lets a team member know that he is a valuable member of the organization. Similarly, facilitating knowledge sharing through an employee mentoring program can be equally beneficial.Shorten the Feedback Loop – This helps the employees to know the feedback to their work within a short period. This also helps to keep performance levels high and reinforce positive behavior among employees. Pay Package – Any employee wants to be appropriately p aid and fairly for the work he or she does. For this, conduct a research to find out the pay package in other similar type of organizations at regional as well as at national levels. Balance Work ; Personal Life – No doubt family is exceptionally important to employees. When work begins to put pressure on one family, no pay package will keep an employee in the organization.Therefore, there should be a balance between work and personal life. Small gestures like allowing an employee to take an extended lunch once a week to watch his son's cricket game will result in loyalty and helps to retain the employee. Organizational Culture – Try to select the candidates who believe in the organization culture and adopt with ease to organization culture. Exit Interview with the employees who are leaving the organization will help the organization to find out the reasons why the employees are leaving the organization.This will also help to find out any drawbacks in the organization. Another method to reduce attrition rate is that they should find out why employees are leaving the organization from the employees who are working for the past so many years. Motivational Training – It is sure that motivational training helps to retain the employees. One of the crucial aspects to motivate employees is to ensure that they have ample growth opportunities which can be provided through training. Multi-Tasking – One of the ways to retain the employees in the organization is try to get people with different qualities ike smart, adaptable, and capable of multi-tasking. Referrals – Another technique is to try to get the employees hired through referrals. This makes them stick with the organization. No Favoritism – One of the surest ways to create animosity and resentment in an organization is to allow favoritism and preferential treatment towards an employee. Be sure to treat all employees equally and avoid favoritism at all costs. ATTRITION RAT E: There are a number of reasons for employees leaving the organization. Well, the most obvious reason for employees leaving any organization is higher pay.The main problem here is that employees are moved from one location to another location along with their family. But this problem is taken care of by a salary hike which may be around 20%-35% per annum. Attrition Rates in Different Sectors in India During 2007: The attrition rates in different sectors for the year ended 2007 are shown in the following table: – Sector | Attrition Rate| FMCG| 17  Ã‚  | Manufacturing| 20  Ã‚  | Capital Goods| 23  Ã‚  | Construction| 25  Ã‚  | Non Voice BPO| 25  Ã‚  | IT – ITES| 27  Ã‚  | Telecom| 30  Ã‚  | Pharmaceuticals| 32  Ã‚  | Bio Technology| 35  Ã‚  | Services| 40  Ã‚  | Financial| 44  Ã‚  | Aviation| 46  Ã‚  | Retail| 50  Ã‚  |Voice – Based BPO| 50  Ã‚  | Source: Times of New York | | Benefits of Attrition: Good attrition minimizes the adverse impact on business. Desirable attrition includes termination of employees with whom the organization does not want to continue a relationship. It can be through resignation or by the employer. The benefits are: – * Removes bottle-neck in the progress of the company. * Creates space for the entry of new talents, external as well as internal. * Helps planting â€Å"ambassadors† in the eco-system who can have a positive impact on the growth of the organization. * Assists in evolving high performance teams. Infuses new blood into the organization. * Enhances ability for execution. * New thoughts, ideas, and hence, more innovation and creativity at work. * Knowledge of best practices from across the industry is brought in. * It is also an opportunity to induct employees at a lower cost with fresh skills and competencies aligned to the current need of business. Worst effects of attrition: * Loss of knowledge capital. * Delay in execution of projects / assignments. * Loss of production. * Increasing cost of recruitment. * Impact on employer brand. * Burden and burn-out on existing employees. Internal information and knowledge is being shared outside. * Existing team also gets de-focused / de-motivated for sometime. Reasons for leaving Pull factors The major causes of employee turnover fall into four categories: ‘pull-type’ causes, ‘push-type’ causes, unavoidable causes, and situations in which the departure is initiated by the organization rather than by the employee. Each is fundamentally different from the other and demands a different type of organizational response when it is identified as the major explanation for turnover among members of particular occupational groups.Pull-type resignations occur when the major cause is the positive attraction of alternative employment. The employee concerned may be wholly satisfied with his or her existing organization and happy in the job, but nonetheless decides to move on in search of something even better. It may be a higher rate of pay, a more valued benefits package, more job security, better long-term career opportunities, and a less pressured existence, the opportunity to work overseas, a shorter journey to commute or more convenient hours of work.Push factors By contrast, in the case of push factors the major underlying cause of resignations is the perception that something is wrong with the existing employer. The person concerned may move in order to secure a ‘better job’, but he or she is as likely to join another organization without knowing a great deal about it just because he or she no longer enjoys the current one. In doing so the hope is that working life will improve, but there is no guarantee that it will.A range of different push factors can be identified, ranging from a dislike of the prevailing organizational culture to disapproval of changed structures and straightforward personality clashes with colleagues. Perceptions of unfa irness often underlie these types of departure, but they can also occur simply because the employee is bored or generally fed up with the day-to-day work. He or she thus starts looking for something (or anything) different, and leaves on finding a suitable alternative. In the more extreme cases of dissatisfaction people leave before securing another position.Unavoidable attrition This category comprises reasons for leaving which are wholly or mainly outside the control of the organization. The resignation does not occur because of dissatisfaction with the job, or the perceived opportunities provided elsewhere, but for reasons that are unconnected to work in any direct sense. The most common is retirement, which affects almost everyone at some stage, but there are many others too. Illness is often a cause, because it incapacitates either the employee or a relative for whom he or she has caring responsibilities.Maternity is another reason woman often preferring not to return to the sa me job after their leave, either to take a break from work altogether or in order to secure a job that makes it easier for them to combine work with childcare arrangements. Involuntary attrition Final major category includes departures which are involuntary and initiated by the organization. The employee would have remained employed had he or she not been asked or required to leave. Redundancies clearly fall into this category, along with short-term layoffs, the ending of fixed-term contracts and other dismissals of one kind or another.Many resignations are also in fact largely involuntary because people often prefer to ‘jump before they are pushed’. Someone who knows she is to he made redundant in a few months therefore seeks alternative employment ahead of time, while a colleague who believes his employment will soon be terminated on grounds of poor performance secures another job before being formally dismissed. Although such turnover can sometimes be characterized a s ‘functional’ rather than ‘dysfunctional’, it still carries a cost and is thus best avoided where possible. Table 1. 1. Attrition rates in the world Country| Percentage|US| 42| Australia | 29| Europe| 24| India| 18| Global Average| 24| * Source-Times News, New York 1. 3 OBJECTIVES OF THE STUDY Primary objective: 1. Find out the attrition level in XXX retail limited. Secondary objectives: 1. To study causes for attrition. 2. To find out the retention strategies adopted. 3. To study the satisfactory level of employees. 4. To analyze the effect of attrition. 5. To offer suggestions to reduce attrition. 1. 4 Need for the study 1. More time is spent recruitment and selection. 2. The trained employees must be retained. 3. Study concentrates the reasons for attrition. 4.The various dimensions analyzed and solutions offered for attrition 1. 5 Scope of the study The purpose of the research is to identify and prioritize work place related factors that trigger  "job switch or attrition among XXX Fresh Limited employees†. Employee retention is therefore important in a business’s ability to keep the most talented people in the organization and avoid unwanted turnover. So that the respondents could stay in the same Organization, and attrition rate could also be reduced. 1. 6 Limitation of the study 1. Opinion and perception of the employees changes over a period of time. 2.The respondents are not cooperative to answer the question. 3. Some of the respondent may not agree with the statement 4. Since the respondents are very busy, they are hurry and unable to spare much time with the researcher. CHAPTER 2 Review of literature 1. Title: Studied on Attrition at the presidency kid leather shoe Division Author- Balakrishnan Date- October 1994 ABSTRACT: Studied on Attrition at the presidency kid leather shoe Division. The sample size is 40 and used simple random sampling technique. He found that the manufacturing unit is not satisfied w ith basic needs like nature of the work, income level etc.He also insisted that proper performance appraisal system does not exist in that Organization. The researcher suggested for policy development, good performance management system, need analysis, career planning, counseling, etc. 2. Title: Studied on employee Attrition at Satyam Computers Author- Bharathan Prahalad Date- November 2000 ABSTRACT: Bharathan Prahalad(2000) studied on employee Attrition at Satyam Computers. The sample size is 30 and he used questionnaire method. The result of the study shows that the need for promotions, need for consumer loans, need for salary revision.The researcher suggested for training sessions, overseas opportunity for the employees, Employee stock option, good work environment, flexi timings, recreation etc. Attrition rate, attrition causes. 3 . Title: Study on influence of HR practice on Retention of Talent at Cyber Korp India Author- Mohamed Habeeb Date- March 2005 ABSTRACT: Mohamed Habeeb (2005) made an attempt to study on influence of HR practice on Retention of Talent at Cyber Korp India. The scope of the study was restricted to the employees of Cyber Korp India. The scope of the study was restricted to the employees of Cyber Korp.The objective is to identify the various causes for attrition in the Company and the influence of HR practices on retention of talents. The researcher used descriptive method on the primary data collected from the study unit. The researcher, using interview schedule collected the data on retention. The sample size is 50 selected at random. The result of the study shows that the female employees have high mentor relationship than male employees in that Organization. Male employees show high interest in team work than female. Experienced employees have less mentorship.Researcher suggested that compensation is the key area of retention, and also suggested for restructuring of the salary levels. To adopt for best HR practices such as Trainin g, mentoring, Career mapping, Performance appraisal and feedback system. 4 . Book: Love Employees or Lose Employees: Getting Good People to Stay Author- Beverly Kaye, Sharon Jordan-Evans Publisher – Berrett-koehler Publishers Date- January, 2008 They underlined that employee retention is a process in which the employees are encouraged to remain with 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 such as Compensation, G ood environment, Growth, Relationship and Support.Book: 5 . Article: Keeping Good People Author- Roger Herman Publisher – Academy of Management Review Date- January, 2008 ABSTRACT: In his review the author says that â€Å"Employee retention involves being sensitive to people’s needs†. Employee attrition is running wild in today’s tight labor market; however, the companies that keep their employees have found that what matters most is not the pay, benefits, or perks, but the quality of the relationship between employees and their direct supervisors. The bottom line is that people leave managers, not companies. . Article: Intra organizational and inter organizational job change Publisher – Journal of business and psychology Date- December, 1996 ABSTRACT: Quality of employment survey panel data to compare the determinants of intra organizational and inter organizational job change. To discriminant function were significant, the first distinguishing be tween intra organizational changers and stayers and the second between inter organizational changers and stayers. 7 . Article: Employee attrition and retention strategiesPublisher – INDIAN EXPRESS NEWSPAPER Date- September 16, 2006 ABSTRACT: The HR managers have been facing a tough time finding a suitable replacement with required experience and ability, to fill up the vacancies created on account of exit of key employees. The reasons can be varied like shortage of skilled manpower, growth in opportunities as a result of economic reforms and liberalized policies pursued by successive governments. 8 . Title: Employee retention needs a proper strategy Author- DR,Saurabh Guptha Date- October 2003 Abstract :The study revealed that the employee retention involves being sensitive to peoples needs and demonstrating the various strategies in the five families detailed in Roger Herman’s Classic book on employee retention, keeping good people. Employee attrition is running wild in today’s tight labor market. However, the companies that keep the employees have found that what matters most is not the pay, benefits or perks, but the quality of relationship between and the direct supervisors. The bottom line is that people leave managers not companies.Control and ownership an approach of being an advisor is necessary to maintain effective and satisfactory control over employees. The value of recognition successful organization realizes employee retention and talent management are integral to sustaining their leader ship and their growth in the market place. Becoming an employee of their choice by retaining the high caliber employees in today’s labor market should be the highest priority CHAPTER 3 RESEARCH METHODOLOGY Methodology is defined as the specification of methods and procedures for acquiring the information needed. It is a plan or frame work for doing the tudy and collecting the data. Research Methodology minimizes the degree of uncertain ty involved in management describes research is characterized by systematic, objective, reproducible, relevant and control. This project is a study marked by promulgation of research questions. The investigator already knows the substantial amount the research problems before the project is initiated. 3. 1. 1Research Design The researcher followed analytical research design. 3. 1. 2Sampling As it was not possible to collect the information from the whole population so sampling method is adopted. Stratified random sampling method is used.Totally 120 questionnaires were prepared for employee survey. 3. 1. 2. 1 Sample Area The sample area means that place where the survey has been conducted. The sample area was XXX Retail limited, Chennai. 3. 1. 3Sampling Procedure The sampling procedure is used of the study is questionnaire method. The type of question is close ended as well as open ended question. Used by the researcher. 3. 1. 4Sample size Population of this study consist of the empl oyee of XXX Retail limited, Chennai. The total population of the company is 1140, sample of 120 employees were taken for the study.. 3. 2 DATA COLLECTION METHODThe task to data collection method often a research problem has been designed and research design chalked out. 3. 2. 1Primary Data Primary data are those, which are collected fresh and for the first time for the collection as primary data a sample survey method was used in the study. Personal interview was conducted with the help of a questionnaire prepared for the survey. 3. 2. 2 Secondary data Data which was not originally collected rather obtained from published or unpublished source are known as secondary data. 3. 2. 4Statistical Tools The analysis of the collected data is the most important part of any research o get the interpretation for the project. According to this project, there will be three statistical tools are used. They are, 1. Chi-square test. 2. Weighted average test. 3. Spearman rank correlation. 3. 2. 4. 2 CHI-SQUARE TEST: Chi-square testis used to compare the relationship between the two variables. OBJECTIVES: 1. To recognize situations requiring the comparison of more that two means or proportions. 2. To use chi-square distribution to see whether two classifications of the source data are independent of each other. 3. To use chi-square distribution for confidence intervals and testing hypothesis about a single population variance. . To use chi-square test to check whether a particular collection of data is well described by a specified distribution. Chi-square test allows us to do a lot more than just test for the quality of several proportions. If we classify a population into several categories with respect to two (2) attributes, we can than use a chi square to determine whether the two (2) attributes are independent of each other. This is used to test the difference observed between two columns of number found in two distinct categories. A chi-square can be used when data satisfy four conditions. 1.There must be two observed sets of data or one observed set of data and our expected set of data. 2. The two set of data must be based on the same sample size. 3. Each cell in the data contain an observed or expected count of five or larger. 4. The different cells in a row or column must represent categorical variables. DEGREE OF FREEDOM: (Number of Rows-1) * (Number of Columns-1) (Oi – ei) Ei Oi = Observed Value. Ei = Expected Value. N = Total Number of Observations. Ei = Row Total * Column Total N Chapter -4 DATA ANALYSIS AND INTERPRETATION Respondents Age Distribution Table-4. 1: Respondents Age DistributionParticulars | No. of respondents| percentage| 18 – 25| 24| 20| 26 – 35| 56| 46. 67| 36 – 45| 27| 22. 5| Above 45| 13| 10. 83| Total| 120| 100| Figure-4. 1: Respondents Age Distribution Inference It can be seen that merely half of the respondents were between the age group of 26-35 years. Respondent marital status TABLE 4. 2 †“ Respondents marital status Particulars| No. of respondents| Percentage| Married| 82| 68. 33| Unmarried| 38| 31. 67| Total| 120| 100| Figure-4. 2 – Respondents marital status Inference It can be inferred that 3/4th of the respondents were married. Respondents Educational QualificationsTable 4. 3 – Respondents Educational Qualifications Particulars| No. of respondents| Percentage| UG| 32| 25. 83| ITI| 18| 15| PG| 67| 55. 83| Others| 3| 2. 5| Total| 120| 100| Figure-4. 3 – Respondents Educational Qualifications Inference It can be inferred that more than half of the respondent were qualified post graduates it’s a good sign for the organization. Respondents Work Experience Table -4. 4 – Respondents Work Experience Particulars| No. of respondent| Percentage| 0 – 2 years| 48| 40| 3 – 5 years| 53| 44. 17| 6 – 8 years| 17| 14. 17| Above 8 years| 2| 1. 66| Total| 120| 100| Figure 4. – Respondents Work Experience Inference It can be seen that almost of the respondents were between the experience level below 5 years. Respondents understanding towards the job Table 4. 5 – Respondents understanding towards the job Particulars| No. of respondents| Percentage| Not at all| 0| 0| Not really| 8| 6. 67| Some what| 33| 27. 5| Pretty much| 45| 37. 5| Totally| 34| 28. 33| Total| 120| 100| Figure 4. 5 – Respondents understanding towards the job Inference It can be seen clearly that almost all of the respondents were understand their job well. Respondent reason for dissatisfactionTable 4. 6 – Respondent reason for dissatisfaction Particulars| No. of respondents| Percentage| Work pressure| 31| 25. 83| Management decisions| 18| 15| Work environment| 6| 5| Pay structure| 48| 40| Others| 17| 14. 17| Total| 120| 100| Figure 4. 6 – Respondent reason for dissatisfaction Inference It can be clearly seen that merely half of the respondents feels that pay structure makes them dissatisfied. Respondent opinion about the management steps Table 4. 7 – Respondents opinion about the management steps Particulars | No. of respondents| Percentage| Not at all| 21| 17. 5| Some what| 42| 35|Average| 36| 30| Really good| 21| 17. 5| Total| 120| 100| Figure 4. 7 – Respondents opinion about the management steps Inference It has been clearly observed that 2/3rd of the respondents feel that the management steps were somewhat satisfactory for them. Respondent’s opinion about the internal improvements needed in organization Table 4. 8 Respondents opinion about the internal improvements needed in organization Particulars | No. of respondents| Percentage| Employee motivation| 22| 18. 34| Working environment| 18| 15| Monetary benefit| 46| 38. 33| Others| 34| 28. 33| Total| 120| 100| Figure – 4. Respondents opinion about the internal improvements needed in organization Inference It can be inferred that 2/3rd of the respondent’s feels monetary benefits is to be improv ements. Respondent’s opinion about the external improvements needed in organization Table 4. 9 Respondents opinion about the external improvements needed in organization External improvements| No. of respondents| Percentage| Innovative technology| 18| 15| External training programs| 47| 39. 17| New products| 12| 10| Others| 43| 35. 83| Total| 120| 100| Figure – 4. 9 Respondents opinion about the external improvements needed in organization InferenceIt can be clearly seen that most of the respondents feels that external training programs should be conducted Respondent’s opinion about retention strategy Table 4. 10 – Respondents opinion about retention strategy Particulars| No. of respondents| Percentage| Hiring suitable person| 18| 15| Allowing in decision making| 9| 7. 5| Good compensation| 42| 35| Good communication| 12| 10| Exit interview| 39| 32. 5| Total | 120| 100| Figure 4. 10 – Respondents opinion about the retention strategy Inference It is clearly inferred that merely half of the respondents feels good compensation is the best strategy for retention.Respondent’s opinion about learning new things Table – 4. 11 Respondents opinion about learning new things Particulars| No. of respondents| Percentage| More| 67| 55. 83| Less| 19| 15. 83| No| 34| 28. 34| Total| 120| 100| Figure – 4. 11 Respondents opinion about learning new things Inference It can be inferred that more than half of the respondents feels that they can learn more new things. Respondent’s opinion about communication between the superior Table 4. 12 – Respondents opinion about communication between the superior Particulars| No. of respondents| Percentage| Yes| 73| 60. 83| No| 47| 39. 7| Total| 120| 100| Figure 4. 12 – Respondents opinion about communication between the superior Inference It can be clearly observed that most of the respondent’s feels that they can communicate with their superiors at any time Res pondent’s opinion about promotion method Table 4. 13 – Respondents opinion about promotion method Particulars| No. of respondents| Percentage| Yes| 83| 69. 17| No| 37| 30. 83| Total| 120| 100| Figure 4. 13 – Respondents opinion about promotion method Inference It can be inferred that 3/4th of the respondents feels that their promotion is given based on their skills.Respondent’s opinion about stress Table 4. 14 – Respondent’s opinion about stress Particulars | No. of respondents| Percentage| Highly agree| 12| 10| Agree| 17| 14. 17| Neutral | 29| 24. 16| Disagree| 38| 31. 67| Highly disagree| 24| 20| Total | 120| 100| Figure 4. 14 – Respondent’s opinion about stress Inference It is clearly inferred that more than half of the respondents disagree that they having stress in their work. Respondent’s opinion about recreational facilities Table 4. 15 – Respondents opinion about recreational facilities Particulars | No. o f respondents| Percentage |Highly satisfied| 10| 8. 33| Moderately satisfied| 20| 16. 67| Neutral | 49| 40. 83| Moderately dissatisfied| 23| 19. 17| Dissatisfied | 18| 15| Total | 120| 100| Figure 4. 15 – Respondents opinion about recreational facilities Inference It can be clearly seen that merely half of the respondents were neither satisfied nor dissatisfied about the recreational facilities. Respondent’s opinion about working space Table 4. 16 – Respondents opinion about working space Particulars | No. of respondents| Percentage | Highly satisfied| 33| 27. 5| Moderately satisfied| 58| 48. 33| Neutral | 21| 17. | Moderately dissatisfied| 6| 5| Dissatisfied | 2| 1. 67| Total | 120| 100| Figure 4. 16 – Respondents opinion about working space Inference It can be clearly seen that 3/4th of the respondents satisfied with the working space. Respondent’s opinion about worst of attrition Table 4. 17 – Respondents opinion about worst of attrition Particulars| No. respondents| Percentage | Cost of recruitment| 43| 35. 83| Loss of production| 18| 15| Loss of knowledge capital| 27| 22. 5| Training cost | 32| 26. 67| Total | 120| 100| Figure 4. 17 – Respondents opinion about worst of attrition InferenceIt can be clearly seen that 2/3rd of the respondents feels that cost of recruitment and training cost is worst effect of attrition Respondent’s opinion about the best effect of attrition Table 4. 18 – Respondents opinion about the best effect of attrition Particulars| No. of respondents | Percentage| Removes bottle necks | 39| 32. 5| Entry of new talents| 53| 44. 17| Infuses of new blood| 28| 23. 33| Total | 120| 100| Figure 4. 18 – Respondents opinion about the best effect of attrition Inference It can be clearly seen that merely half of the respondents feels that entry of new talents is the best effect of attrition.Chi – square Experience and dissatisfaction levels in job Table 4. 19 Chi-Square Experience Dissatisfaction | 0 – 2| 3 – 5| 6-8 | Above 8 years| Total | Work pressure | 19| 11| 1| 0| 31| Management decision | 8| 6| 3| 1| 18| Work environment | 0| 2| 3| 1| 6| Pay structure | 14| 28| 6| 0| 48| Others | 7| 6| 4| 0| 17| Total| 48| 53| 17| 2| 120| Null hypothesis H0: There is no significant relationship between the experience and dissatisfaction of job. Alternate hypothesis H1: There is a significant relationship between the experience and dissatisfaction of job. Level of significant: LOS= 95% (. 05%)Degree of freedom: DOF= (M-1) (N-1) = (5-1) (4-1) Degree of freedom = 12 Z tab= 21. 026 2 = ? ( O – E )2/E Expected valued: E = ( row total * column total ) / grand total 2 = 3. 51 + 0. 52 + 2. 61 + 0. 51 + 0. 08 + 0. 47 + 0. 07 + 1. 63 + 2. 4 + 0. 15 +5. 43 + 0. 81 + 1. 4 + 2. 18 + 0. 09 +0. 8 + 0. 005 + 0. 3 + 1. 06 + 0. 28 Z cal = 24. 305 Calculated value > tabulated value Zcal > ztab H0 is rejected. H1 is accepted There is a significant relation ship between the experience and dissatisfaction of job. Spearman rank correlation Table 4. 20 – Ranking for stress and recreational activityStress| Rank 1| Recreational activity| Rank 2| Difference(D)| (D)2| 12| 5| 10| 5| 0| 0| 17| 4| 20| 3| 1| 1| 29| 2| 49| 1| 1| 1| 38| 1| 23| 2| -1| 1| 24| 3| 18| 4| -1| 1| | | | | ? (D)2| 4| R = 1 – 6? D2 (n (n2 – 1)) = 1 – (6*4) (5 (25-1)) = 1 – 0. 2 R = +0. 8 Since the correlation value (R) is +0. 8 there is a high correlation between the stress and recreational activity. Chapter 5 5. 1 Findings 1. Half of the respondents (47%) are in the age group of 26-35 years. 2. 3/4th of the respondents (68%) were married. 3. Half of the respondents (56%) were qualified post graduates. . Majority of the respondents have an experience of less than 5 years. 5. All the respondents have understood their job. 6. Merely half of the respondent’s (40%) feel that pay structure makes them dissatisfied. 7. 2/3rd of the respond ents are not much satisfied with the management policies. 8. 2/3rd of the respondents (39%) feel hike in salary can be offered. 9. Most of the respondents ( 39%) feel that external training programs should be conducted 10. All the respondents feel good compensation and hiring suitable person is the best strategy for retention. 1. More than half of the respondents (56%) feel that they get opportunity to learn more. 12. More than half of the respondents (61%) said they can communicate with their superiors at any time. 13. Merely 3/4th of the respondents (70) said their promotion is based on their skills. 14. More than half of the respondents (52%) disagreed that they have stress in their work. 15. Nearly half of the respondents (41%) were neither satisfied nor dissatisfied about the recreational facilities. 16. 3/4th of the respondents (75%) are satisfied with the working space. 17. /3rd of the respondents (36%) feel that due to attrition the cost of recruitment and training increases 18. Nearly half of the respondents (47%) feel that due to attrition there is entry of new talents. 5. 2 Suggestion 1. Management should give good job description to employees. 2. The organization should change the pay structure based on the nature of job. 3. The organization should conduct more external training programs to improve the efficiency of the employees. 4. The organization must appoint right person for the right job which will help to reduce attrition. 5. They must have two way communication. 6.The organization should provide more recreational activity to employees to relieve form stress. 7. Career growth and higher education is main cause for attrition in XXX, so the organization can give promotions and hike in salary in regular interval to reduce the attrition level. 8. Cost of recruitment and loss of knowledge capital were the worst effect of attrition, for that the company can follow retention strategies to keep the valuable employees. 9. Even though many retention s trategies followed in the organization the best strategy is exit interview, which helps them to identify the reason for attrition. 5. 3 CONCLUSIONIn global economy many organizations find very difficult to overcome the competition and to retain the employees. Due to attrition the companies not only lose the efficient employees but also spend a lot for recruiting new employees. The study company has moderate attrition since the stress level is low. Even this attrition can be reduced if they follows’ a good retention strategy like increasing the salary in periodic interval. The main cause for employee switching over job in XXX is carrier growth. Thus the organization should not increase the salary but also give promotions to employee to make them satisfy and retain the in organization.By satisfying the employee the attrition level can be reduced. ANNEXURE QUESTIONNAIRE A STUDY ON ATTRITION LEVEL PERSONAL DATA : 1. Name: 2. Designation: 3. Age: a) 18 -25 b) 26 – 35 c) 36 -45 d) above 45 4. Marital status: a) Married b) unmarried 5. Educational Qualification: a) UG b) ITI c) PG e) Others 6. Years of Experience: a) 0 – 2 years b) 3 – 5 years c) 6 – 8 years d) Above 8 years OTHER DATA: 7. How well do you understand your nature of job? ? Not at all ? Not really ?Some what ? Pretty much ? Totally 8. Rate the following factors Particulars| Highly satisfied5| Satisfied4| Neutral3| Dissatisfied2| Highly dissatisfied1| Motivation| | | | | | Appraisal| | | | | | Job challenge| | | | | | Reward| | | | | | Communication with superiors| | | | | | 9. Which of the following makes you to get dissatisfied? a) Work Pressure b) Management decisions c) Working Environment d) Pay structure e) other 10. Do you believe that there is a decrease in your Dissatisfaction level after the management steps? ) Not at all b) Somewhat ok c) Average d) Really good 11. Specify the area where improvement is required internally? ? Employee motivation ? Working envi ronment ?Monetary benefits ? Other 12. Specify the area where improvement is required externally? ? Innovative technology ? External Training programs ? New products ? Others 13. For which of these reasons, you prefer to change the job. Rate the following? Particulars | Rank | Career growth| | Higher stress| | Higher education| | Health condition| |Family problems| | 14. From these following which retention strategy is the best way to reduce the attrition level? a) Hiring suitable person b) decision making c) good compensation d) good communication e) exit interview 15. There any opportunities to learn forward about your job? a) More b) Less c) No 16. Do you have any freedom to convey your immediate problems to Top-level people..? a) Yes b) No 17. Whether promotion is given based on skill? a) Yes b) No 8. Do you agree there is stress in your job? a) Highly agree b) agree c) neutral d) Disagree c) highly disagree 18. Are you satisfied with the recreation facilities provided by the or ganization? a) Highly Satisfied b) Moderately satisfied c) Neutral d) Moderately dissatisfied e) Highly dissatisfied 19. Are you satisfied with the working space provided by the organization? ) Highly Satisfied b) Moderately satisfied c) Neutral d) Moderately dissatisfied e) Highly dissatisfied 20. Which is the worst effect of attrition? a) Cost of recruitment b) Loss of production c) Loss of knowledge capital d) Training cost 21. Which is the good effect of attrition? a) Removes bottle necks b) Entry of new talents c) Infuses of new blood 22. 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