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CHAPTER 1

INTRODUCTION

INTRODUCTION TO THE STUDY


1.1 BACKGROUND The study was conducted at Spencers Retails Limited, Bangalore to find the effect of work environment on employee retention. The study on employee retention gives the management an indication of the level of satisfaction among the employees regarding the general working condition, relationship between employees, compensation and the other facilities provided by the organization. This helps the management to know the motivation level of the employees. Employee retention means 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. Employee retention rounds around various factors such as compensation, support, relationship, work environment, growth and career development. Compensation: The employees always have high expectations regarding their compensation packages. Compensation includes salary and wages, bonuses, benefits, prerequisites, stock options, bonuses, vacations, etc. So an attractive compensation package plays an important role in retaining the employees in the organisation. Career development: If an employee can not foresee his path of career development in his current organization, there are chances that hell leave the organization as soon as he gets an opportunity. Therefore training must be provided to improve his skills such as communications skills, technical skills, In-house processes and procedures improvement related skills, customer satisfaction related skills, special project related skills etc. Support: Lack of support from management can sometimes serve as a reason for employee retention. Management can support employees by providing them

recognition and appreciation. Employers can also provide valuable feedback to employees and make them feel valued to the organization. Relationship: there must be good relationship between the employees in the organisation. Sometimes lack of good relationship may be the cause of leaving the organisation. Work environment: Organizations should focus on managing the work environment to make better use of the available human assets. People want to work for an organization which provides appreciation for the work done, ample opportunities to grow, and friendly and cooperative environment. They should feel that the organization is second home to the employee.

1.2 SCOPE & SIGNIFICANCE OF THE STUDY

The study on "Employee Retention at Spencers Retails Limited, Bangalore" has thrown light to the employee retention strategies in the organization. This study wills help the top management to improve their employee retention strategies in favor of the employees. It also helps to identify the level of satisfaction of the organization. The study covers different Spencer outlets in Bangalore to avoid homogeneity, and the survey is conducted among the workers through the Questionnaire. Employee retention is an important issue in every organization. Management must take care to retain the best employees in the organization. If the people are not properly motivated, the management will not be able to retain them, and make them work for the organization. Therefore, when human resources are cared well, they will work their maximum for the achievement of organizational objectives. Employee Retention should be given due importance because a loyal employee is a credit to an organization. Acquiring new employee, training them etc. is a costly process.

1.3 STATEMENT OF THE PROBLEM Problem of the Study can be stated as Employee Retention strategies at Spencers Retails Limited, Bangalore and to study the impact of these strategies on employees and organization 1.4 OBJECTIVES OF THE STUDY The study has been initiated with the following objectives; i. ii. iii. iv. To identify the impact of various retention strategies on employee satisfaction. To identify whether employees are satisfied with their compensation. To evaluate the level of satisfaction of employee about work environment. To find the level of satisfaction of employee about the relationship among employees. v. To identify the career growth opportunities provided by the company.

1.5 VARIABLES The questionnaire designed contains following variables.


Compensation of employees Working environment Inter-personal relationship Career growth opportunities Support

1.6 RESEARCH METHODOLOGY 1.6.1 RESEARCH DESIGN A research design is a plan that specifies the objectives of the study, method to be adopted in the data collection, tools in data analysis and hypothesis to be framed.

A research design is an arrangement of condition for collection and analysis of data in a manner that aims to combine relevance to research purpose with economy in procedure. 1.6.2 NATURE OF DATA 1.6.2.1 PRIMARY DATA The primary data are collected from the employees of Spencers Retails Limited, through a direct structured questionnaire. 1.6.2.2 SECONDARY DATA The Secondary data collected from Company profiles, annual reports of company, websites, and records. 1.6.3 POPULATION The population of this study includes the employees in the company. 1.6.4 SAMPLE TECHNIQUE The sampling technique used in this study is Convenient sampling method, as there was time constraint. 1.6.5 SAMPLING SIZE 60 employees of Spencers Retails Bangalore were contacted for the study. 1.6.6 QUESTIONNAIRE The questionnaire consists of a variety of questions presented to the employees for the response. Dichotomous questions, multiple choice questions, rating scale questions were used in constructing questionnaire. 1.6.7 TOOLS USED FOR ANALYSIS To analyze and interpret collected data the following tools were used. 1) Percentage method 2) Weighted average method 3) Chi-square analysis

4) ANOVA 5) Likert scaling

1.7 LIMITATIONS OF THE STUDY The Findings of this study is applicable to Spencers Retails Bangalore. The data collected from the respondents could be subject to personal bias. The project was undergone for a period of 2 months. Therefore, there was time constraint.

CHAPTER 2

INDUSTRY & COMPANY PROFILE

INDUSTRY PROFILE
2.1.1 INTRODUCTION The retail sector in India is growing at a phenomenal pace. India ranks fifth among the top 30 emerging markets for retail (Ref: Global Retail Development Index 2012). The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and multi-brand FDI has created positive sentiments in the retail sector. The organized retail industry in India had not evolved till the early 1990s. Until then, the industry was dominated by the un-organized sector. It was a sellers market, with a limited number of brands, and little choice available to customers. Lack of trained manpower, tax laws and government regulations all discouraged the growth of organized retailing in India during that period. Lack of consumer awareness and restrictions over entry of foreign players into the sector also contributed to the delay in the growth of organized retailing. Foundation for organized retail in India was laid by Kishore Biyani of Pantaloon Retails India Limited (PRIL). Following Pantaloons successful venture a host of Indian business giants such as Reliance, Bharti, Birla and others are now entering into retail sector. India's retail and logistics industry, organized and unorganized in combination, employs about 40 million Indians (3.3% of Indian population). The typical Indian retail shops are very small. Over 14 million outlets operate in the country and only 4% of them being larger than 500 sq ft (46 m2) in size. India has about 11 shop outlets for every 1000 people. Vast majority of the unorganized retail shops in India employ family members, do not have the scale to procure or transport products at high volume wholesale level, have limited to no quality control or fakeversus-authentic product screening technology and have no training on safe and
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hygienic storage, packaging or logistics. The unorganized retail shops source their products from a chain of middlemen who mark up the product as it moves from farmer or producer to the consumer. The unorganized retail shops typically offer no after-sales support or service. Finally, most transactions at unorganized retail shops are done with cash, with all sales being final. Until the 1990s, regulations prevented innovation and entrepreneurship in Indian retailing. Some retails faced complying with over thirty regulations such as "signboard licenses" and "anti-hoarding measures" before they could open doors. There are taxes for moving goods to states, from states, and even within states in some cases. Farmers and producers had to go through middlemen monopolies. The logistics and infrastructure was very poor, with losses exceeding 30%. Through the 1990s, India introduced widespread free market reforms, including some related to retail. During 2000 to 2010, consumers in select Indian cities have gradually begun to experience the quality, choice, convenience and benefits of organized retail industry. Retail industry in India: Retail is India's largest industry. It accounts for over 10 per cent of the India's GDP and around eight per cent of the employment. Retail sector is one of India's fastest growing sectors with a 5 per cent compounded annual growth rate. India's huge middle class base and its untapped retail industry are key attractions for global retail giants planning to enter newer markets. Driven by changing lifestyles, strong income growth and favorable demographic patterns, Indian retail is expected to grow 25 per cent annually. It is expected that retail in India could be worth US$ 175-200 billion by 2016. A number of factors are driving India's retail market. These include: increase in the young working population, hefty pay-packets, nuclear families in urban areas, increasing working-women population, increase in disposable income and customer aspiration, increase in expenditure for luxury items, and low share of organized retailing. India's retail boom is manifested in sprawling shopping centres,

multiplex- malls and huge complexes that offer shopping, entertainment and food all under one roof. But there is a flip side to the boom in the retail sector. It is feared that the entry of global business giants into organized retail would make redundant the neighborhood kirana stores resulting in dislocation in traditional economic structure. Also, the growth path for organized retail in India is not hurdle free. The taxation system still favors small retail business. With the intrinsic complexities of retailing such as rapid price changes, constant threat of product obsolescence and low margins there is always a threat that the venture may turn out to be a loss making one. A perfect business model for retail is still in evolutionary stage. Procurement is very vital cog in the retail wheel. The retailer has to fight issues like fragmented sourcing, unpredictable availability, unsorted food provisions and daily fluctuating prices as against consumer expectations of round-the-year steady prices, sorted and cleaned food and fresh stock at all times. But retail offers tremendous for the growth of Indian economy. If all the above challenges are tackled prudently there is a great potential that retail may offer employment opportunities to millions living in small town and cities and in the process distributing the benefits of economic boom and resulting in equitable growth. Major Players in Retail Industry: The major players in Retail industry are: Pantaloon Retail (India) Limited Lifestyle International RPG Retail Shoppers Stop Trent (Tata) Vivek Limited
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2.2 COMPANY PROFILE In 1995, RPG Enterprises, the flagship company of the RPG Group, launched Food World as a joint venture with Hong-Kong based Dairy Farm International. The joint venture, which operated supermarkets under the name Food world and hypermarkets under the name Giant, was terminated in 2006. RPG retained 48 of the 93 stores it owned. These were re-furbished and their launch under the brand name, Spencers, kicked off a new phase in both the history of the Spencers brand, and the retailing in India. Since inception Spencers has been a consumer-centric brand, constantly innovating, pioneering formats, evolving over time but always keeping consumer needs and satisfaction center-stage. Back in 1920, we were the first grocery chain in India. In 1980, we became the first supermarket chain, and in 2001, we introduced India to the joys of hypermarket shopping. What has remained unchanged almost 150 years is the trust the Spencers brand evokes. To the consumer, it carries the promise of innovation, quality, and service; the confidence that they will always be able to find a Spencers at a convenient location; that it will have a pleasant ambience; and that it will offer a wide range of products at affordable prices.
Spencer's retail is the largest supermarket chain in India. They offer a complete range of products & durables, from bread to bed cover; from toothpaste to even television sets. Today Spencer's has 100 stores spread across 25 cities with a retail trading area of more than half a million square feet, and we're growing rapidly. Spencer's is the shopping choice for millions across the country, 2.8 million to be exact, who frequent their stores every month. Today Spencer's offers its customers a customized and convenient shopping experience in 5 different formats. Each format, namely the Spencer's Express, Spencer's Fresh, Spencer's Daily, Spencer's Super and Spencer's Hyper is differently sized and caters to the various needs of our consumers. They at Spencer's offer a pleasant and delightful shopping experience by ensuring convenient store locations, trusted quality, great value for money and a wide array of products. And these qualities characterize all of our 100 stores, across the country.

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2.2.1 VISION OF THE COMPANY The vision of the company is to build Spencers as the most professionally managed retail business in the country through excellence in all operating process; nurturing and facilitating a learning and growth culture and building a unique retail experience for the customers. 2.2.2 MISSION OF THE COMPANY The mission of the company strives to exceed the aspirations of its customers for a healthy and fulfilling lifestyle by providing the most innovative customer goods and delectable taste experience. It aims at providing the customers with the ultimate shopping experience unbeatable value. 2.2.3 CORE VALUES The core values of the company include: 1) Customer happiness 2) Credibility 3) Humaneness 4) Execution excellence 5) Speed 6) Risk taking 2.2.3 MAJOR ACTIVITIES The major activities of Spencers are associated with building a unique retail experience for the customers. Spencers has retail footage over 2 million square feet and over 400 Spencers stores in 65 cities. The Company operates through the following formats providing the customers with the best quality of products at a reasonable price.

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Spencers Hypermarkets: The Spencers Hypermarkets are huge destination stores, more than 25,000 sq. ft. in trading area. Shoppers come here looking for fantastic deals across all categories. Hypermarkets ensure a comfortable, clean, bright and functional ambience to shop along with the convenience of finding everything under one roof at the best value for money. A fast growing retail network of hypermarkets with large format stores in Mumbai, Gurgaon,Ghaziabad, Lucknow, Calicut, Hyderabad, Vizag,Vijaywada, Aurangabad, Durgapur and Kolkata.

Spencers super: The Spencers Super is the place to go for the monthly shopping. About 8000-15000 sq ft. in size, the Spencers Super not only caters to the daily needs but also stocks home care products; personal care products, Bakery, Chilled and frozen food; Baby care besides groceries & staples, Fresh fruits and vegetables. Spencer is one of the largest supermarket chains in the food and grocery segment in India.

Spencers Daily: Small format stores conveniently located with a range of products to meet daily household needs. The Spencers Daily store is a friendly neighborhood store, which caters to the entire daily shopping needs- from regular groceries to fresh food and also weekly top-up shopping. It is about 4000-7000 sq ft in size and with a bright and friendly atmosphere. Spencers Daily saves the hassle of bargaining with the local kirana shop owners (because it offers the lowest possible prices).
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Spencers express: Spencers Express is a store next door for the fresh needs at arms length. These stores are around 1000 sq. ft in size. They are open from 7 am to 9 pm and also provides with home delivery. The Express stores stock dairy, fruit and vegetables, bread and bread products, cut vegetables/ready to cook, fruit juice, fresh batter, fresh coffee/tea, fresh masalas, fresh pickles, fresh Ghee, fresh fish and meat.

2.2.6 ACHIEVEMENTS AND MILESTONES REID & TAYLOR, BOND WITH THE BEST: Retail Excellence Award, Retail Icon of the Year, 2010 to Vineet Kapila IMAGES EXCELLENCE AWARD: For Pioneering Retail in East at the East India Retail Summit Awards, 2011 RANKED 3RD: Among the Most Trusted Brands in Retail. 2010 in the Brand Equity AC Nielson Brand Survey, 2010 RANKED 47TH : Among Top 50 service Brands in India, 2010 in the Brand Equity AC Nielson Brand Survey, 2010 SAP ACE AWARD: For Customer Excellence, 2010 VMRD AWARD: Spencers was awarded the first runners-up in the Visual Merchandizing Category at the In-store Asia, 2009 FOOD FORUM OF INDIA: Coca Cola Golden Spoon Most Admired Food & Grocery Retailer, Convenience and Express Formats, 2008 INDIA RETAIL FORUM: Most Evolved Retailer of the Year, India Retail Forum, 2007 INDIA RETAIL FORUM: Turnaround Retailer of the Year, 2006

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CHAPTER 3

REVIEW OF LITERATURE

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REVIEW OF LITERATURE
3.1 EMPLOYEE RETENTION MEASURES 1. HERTZBERG THEORY

Frederick Herzberg studied employee retention and motivation and eventually came up with his duel dimensional job satisfaction theory. Herzberg believed that the two dimensions of job satisfaction are dissatisfiers (he called them "hygiene" issues) and satisfiers, also called motivators. His theory was that employees can be retained through minimizing dissatisfaction and maximizing satisfaction. Dissatisfiers include factors such as administration, company policy, working conditions, supervision, relationships and salary. Satisfiers include the job, promotion, achievement, responsibility and recognition. 2. VROOMS EXPECTANCY THEORY:

According to Vrooms Expectancy Theory, an employee should know that he will be rewarded for hard work. This theory of motivation comprises three main factors: expectancy, instrumentality, and valence. Employees must be informed clearly about what they must do and grasp a companys method of measuring performance. Instrumentality means the degree to which the desired performance will lead to desired rewards. The employee must be able to trust the people evaluating his performance for him to be motivated. Valence constitutes the value an employee places on rewards offered by an organization. For example, if an employee values monetary compensation, he would not be motivated enough by the provision of extra time off from his job.
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3.

PHILANTHROPIC THEORY

Philanthropy means affection or love for mankind. The philanthropic theory refers to the provisions of good cooking conditions, crches and canteens out of pity on part of the employers who want to remove the disabilities of the workers.

4.

EQUITY THEORY

When people feel fairly or advantageously treated they are more likely to be motivated; when they feel unfairly treated they are highly prone to feelings of disaffection and demotivation. The way that people measure this sense of fairness is at the heart of Equity Theory. Equity, and thereby the motivational situation we might seek to assess using the model, is not dependent on the extent to which a person believes reward exceeds effort, nor even necessarily on the belief that reward exceeds effort at all. Rather, Equity, and the sense of fairness which commonly underpins motivation, is dependent on the comparison a person makes between his or her reward/investment ratio with the ratio enjoyed (or suffered) by others considered to be in a similar situation.

EMPLOYEE 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. Employee Retention rounds around the following factors: 1) Compensation 2) Support 3) Career growth

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4) Relationship 5) Environment

1) Compensation: Compensation constitutes the largest part of the employee retention process. The employees always have high expectations regarding their compensation packages. Compensation packages vary from industry to industry. So an attractive compensation package plays a critical role in retaining the employees. Salary and monthly wage: It is the biggest component of the compensation package. It is also the most common factor of comparison among employees. It includes Basic wage, House rent allowance, Dearness allowance, City compensatory allowance. 2) Career Growth: Growth and development are the integral part of every individuals career. If an employee can not foresee his path of career development in his current organization, there are chances that hell leave the organization as soon as he gets an opportunity. The important factors in employee growth that an employee looks for himself are: Work profile: The work profile on which the employee is working should be in sync with his capabilities. The profile should not be too low or too high. Personal growth and dreams: Employees responsibilities in the organization should help him achieve his personal goals also. Organizations cannot keep aside the individual goals of employees and foster organizations goals. Employees priority is to work for themselves and later on comes the organization. If hes not satisfied with his growth, hell not be able to contribute in organization growth. Training and development: Employees should be trained and given chance to improve and enhance their skills. Many employers fear that if the employees are well rained, theyll leave the organization for better jobs. Organization should not limit the resources on which organizations success depends.

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3) Support: Lack of support from management can sometimes serve as a reason for employee retention. Supervisor should support his subordinates in a way so that each one of them is a success. Management should try to focus on its employees and support them not only in their difficult times at work but also through the times of personal crisis. Management can support employees by providing them recognition and appreciation. Employers can also provide valuable feedback to employees and make them feel valued to the organization. The feedback from supervisor helps the employee to feel more responsible, confident and empowered. Top management can also support its employees in their personal crisis by providing personal loans during emergencies, childcare services, employee assistance programs, counseling services, et al. Employers can also support their employees by creating an environment of trust and inculcating the organizational values into employees. Thus employers can support their employees in a number of ways as follows: By providing feedback By giving recognition and rewards By counseling them

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Respect for the individual: Respect for the individual is a must in the organization. Relationship with the immediate manager: A manger plays the role of a mentor and a coach. He designs and plans work for each employee. It is his duty to involve the employee in the processes of the organization. So an organization should hire managers who can make and maintain good relations with their subordinates. Relationship with colleagues: Promote team work, not only among teams but in different departments as well. This will induce competition as well as improve the relationships among colleagues. Recruit whole heartedly: An employee should be recruited if there is a proper place and duties for him to perform. Otherwise hell feel useless and will be dissatisfied. Employees should know what the organization expects from them and what their expectation from the organization is. Deliver what is promised. Promote an employee based culture: The employee should know that the organization is there to support him at the time of need. Show them that the organization cares and hell show the same for the organization. An employee based culture may include decision making authority, availability of resources, open door policy, etc. Individual development: Taking proper care of employees includes acknowledgement to the employees dreams and personal goals. Create opportunities for their career growth by providing mentorship programs, certifications, educational courses, etc. Induce loyalty: Organizations should be loyal as well as they should promote loyalty in the employees too. Try to make the current employees stay instead of recruiting new ones. 4) Organization Environment: It is not about managing retention. It is about managing people. If an organization manages people well, employee retention will take care of itself. Organizations should focus on managing the work environment to make better use of the available human assets. People want to work for an organization which provides Appreciation for the work done Ample opportunities to grow A friendly and cooperative environment
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Organization environment includes culture, values, company reputation, quality of people in the organization, trust.

CHAPTER 4 ANALYSIS AND FINDINGS

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DATA ANALYSIS

TABLE 4.1- DESIGNATION OF RESPONDENTS


Designation Frequency Employees Managers Total 50 10 60 Percent 83.3 16.7 100.0 Valid Percent 83.3 16.7 100.0 Cumulative Percent 83.3 100.0

Fig : 4.1- DESIGNATION OF EMPLOYEES

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Inference: 83% of respondents are employees and only 17% of the respondents are mangers. Majority of the respondents are the low level employees who have the fear to express their feelings.. TABLE 4.2- GENDER OF THE EMPLOYEES Cumulative Percent 46.7 100.0

Frequency Male Female Total 28 32 60

Percent 46.7 53.3 100.0

Valid Percent 46.7 53.3 100.0

Fig : 4.2- GENDER OF THE EMPLOYEES

Inference: 53% of the employees are females and 47% of the employees are males. Male employees have a higher tendency to shift the organization. Since the work is routine, female employees are mostly recruited for this job. In managerial level there are more male employees.

TABLE 4.3- QUALIFICATION OF EMPLOYEES

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Frequency 12th UG PG Total 42 10 8 60

Percent 70.0 16.7 13.3 100.0

Valid Percent 70.0 16.7 13.3 100.0

Cumulative Percent 70.0 86.7 100.0

Fig : 4.3- QUALIFICATION OF EMPLOYEES

Inference: Only 13% of the respondents were post graduate. Most of the Post Graduate holders were the managers. There was no low level employees who were post graduate. Most of them were having basic education.

TABLE 4.4- EXPERIENCE OF EMPLOYEES Cumulative Percent 42.0 80.0 82.0 94.0 100.0

Frequency >3 Yrs 3-2 yrs 1-<2 yrs >= 7 months <1 yr <6 Months Total 21 19 1 6 3 50

Percent 35.0 31.7 1.7 10.0 5.0 83.3

Valid Percent 42.0 38.0 2.0 12.0 6.0 100.0

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Fig : 4.4- EXPERIENCE OF EMPLOYEES

Inference: 42% of the respondents are having more than 3 years of experience. 38% are having at least 2 years of experience. It means that 80% of the employees were with the organization for more. Only 6% of the employees were having experience less than 6 months. TABLE 4.5- MOTIVATION OF EMPLOYEES Valid Percent 8.0 10.0 62.0 20.0 100.0 Cumulative Percent 8.0 18.0 80.0 100.0

Frequency Ineffective No Opinion Effective Highly effective Total 4 5 31 10 50

Percent 6.7 8.3 51.7 16.7 83.3

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Fig : 4.5- MOTIVATION OF EMPLOYEES

Inference: 62% of the respondents think the motivation measures are effective in the organisation.20% thinks that it is highly effective. Only 8% of the respondents think that it is ineffective. TABLE 4.6- EMPLOYEE COMPENSATION POLICIES Valid Percent 10.0 18.0 10.0 52.0 10.0 100.0 Cumulative Percent 10.0 28.0 38.0 90.0 100.0

Frequency Never Rarely At times Occasionally Frequently Total 5 9 5 26 5 50

Percent 8.3 15.0 8.3 43.3 8.3 83.3

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Fig : 4.6- EMPLOYEE COMPENSATION POLICIES

Inference: 52% of respondents think that compensation policies are considered occasionally. and 10% of the respondents are of the opinion that compensation policies are never considered.

TABLE 4.7- EMPLOYEE SUGGESTIONS Valid Percent 2.0 10.0 16.0 48.0 Cumulative Percent 2.0 12.0 28.0 76.0

Frequency Never Rarely At times Occasionally 1 5 8 24

Percent 1.7 8.3 13.3 40.0

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Frequently Total

12 50

20.0 83.3

24.0 100.0

100.0

Fig : 4.7- EMPLOYEE SUGGESTIONS

TABLE 4.8- FUN AT WORK PROGRAMS Valid Percent 2.0 2.0 10.0 46.0 40.0 100.0 Cumulative Percent 2.0 4.0 14.0 60.0 100.0

Never Rarely At times Occasionally Frequently Total

Frequency 1 1 5 23 20 50

Percent 1.7 1.7 8.3 38.3 33.3 83.3

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Fig : 4.8- FUN AT WORK PROGRAMS

Inference:

TABLE 4.8-SALARY SATISFACTION Valid Percent 4.0 22.0 20.0 54.0 100.0 Cumulative Percent 4.0 26.0 46.0 100.0

Frequency Highly dissatisfied Dissatisfied Neutral Satisfied Total 2 11 10 27 50

Percent 3.3 18.3 16.7 45.0 83.3

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Fig : 4.8-SALARY SATISFACTION

TABLE 4.9-WORK ENVIRONMENT SATISFACTION Cumulative Percent 16.0 34.0 90.0 100.0

Frequency Dissatisfied Neutral Satisfied Highly satisfied Total 8 9 28 5 50

Percent 13.3 15.0 46.7 8.3 83.3

Valid Percent 16.0 18.0 56.0 10.0 100.0

Fig : 4.9-WORK ENVIRONMENT SATISFACTION

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TABLE 4.10-INTER PERSONAL RELATIONS

Frequency Highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied Total 18 17 4 7 4 50

Percent 30.0 28.3 6.7 11.7 6.7 83.3

Valid Percent 36.0 34.0 8.0 14.0 8.0 100.0

Cumulative Percent 36.0 70.0 78.0 92.0 100.0

Fig : 4.10-INTER PERSONAL RELATIONS

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TABLE 4.11-FEEDBACK ON PERFORMANCE

Frequency Highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied Total 17 23 3 5 2 50

Percent 28.3 38.3 5.0 8.3 3.3 83.3

Valid Percent 34.0 46.0 6.0 10.0 4.0 100.0

Cumulative Percent 34.0 80.0 86.0 96.0 100.0

Fig : 4.11-FEEDBACK ON PERFORMANCE

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TABLE 4.12-RELATIONSHIP BETWEEN SUPERIORS Valid Percent 20.0 16.7 58.3 5.0 100.0 Cumulative Percent 20.0 36.7 95.0 100.0

Frequency Dissatisfied Neutral Satisfied Highly satisfied Total 12 10 35 3 60

Percent 20.0 16.7 58.3 5.0 100.0

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Fig : 4.12-RELATIONSHIP BETWEEN SUPERIORS

TABLE 4.13- SATISFACTION ON THE TRAINING AND DEVELOPMENT IN THE ORGANISATION Valid Percent 10.0 10.0 10.0 50.0 20.0 100.0 Cumulative Percent 10.0 20.0 30.0 80.0 100.0

Frequency Highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied Total 1 1 1 5 2 10

Percent 1.7 1.7 1.7 8.3 3.3 16.7

Fig : 4.13- SATISFACTION ON THE TRAINING AND DEVELOPMENT IN THE ORGANISATION

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TABLE 4.14- SATISFACTION ON THE PROMOTIONS CRITERIA Valid Percent 1.7 1.7 6.7 3.3 3.3 16.7 10.0 10.0 40.0 20.0 20.0 100.0 Cumulative Percent 10.0 20.0 60.0 80.0 100.0

Frequency Highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied Total 1 1 4 2 2 10

Percent

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Fig : 4.14- SATISFACTION ON THE PROMOTIONS CRITERIA

TABLE 4.15- OPINION ON THE WORK LOAD Valid Percent 20.0 20.0 30.0 30.0 100.0 Cumulative Percent 20.0 40.0 70.0 100.0

Frequency Disagree No opinion Agree Totally Agree Total 2 2 3 3 10

Percent 3.3 3.3 5.0 5.0 16.7

Fig : 4.15- OPINION ON THE WORK LOAD

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TABLE 4.16- JOB SWITCHING IF HIGHER SALARY OFFERED Valid Percent 8.3 6.7 1.7 16.7 50.0 40.0 10.0 100.0 Cumulative Percent 50.0 90.0 100.0

Frequency No opinion Agree Totally Agree Total 5 4 1 10

Percent

Fig : 4.16- JOB SWITCHING IF HIGHER SALARY OFFERED

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TABLE 4.17- SATISFACTION ON THE SALARY Valid Percent 40.0 50.0 10.0 100.0 Cumulative Percent 40.0 90.0 100.0

Frequency Disagree Agree Totally Agree Total 4 5 1 10

Percent 6.7 8.3 1.7 16.7

Fig : 4.17- SATISFACTION ON THE SALARY


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TABLE 4.18- FREEDOM TO EXPRESS YOUR OPINION TO THE SUPERVISORS

Frequency Disagree Agree Totally Agree Total 2 6 2 10

Percent 3.3 10.0 3.3 16.7

Valid Percent 20.0 60.0 20.0 100.0

Cumulative Percent 20.0 80.0 100.0

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Fig : 4.18- FREEDOM TO EXPRESS YOUR OPINION TO THE SUPERVISORS

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FINDINGS
80% of the respondents are male and 20% are females. 90% of respondents are post graduates and only 10% are under graduates. 80% of the respondents were of the opinion that the motivation policies are above average, while 1% say that it is below average.

90% of the respondents were of the opinion that they conduct surveys to check how well their compensation policies fair against the competitors. Remaining 10% say that there is no such survey being conducted to compare the compensation packages of the company and its competitors.

30% of the respondents were of the opinion that they consider their subordinates opinions and suggestions frequently while taking decisions, 50% rarely consider their opinion while 2% never consider the subordinates opinion 40% of the respondents were of the opinion that they conduct fun at work programs rarely,40% of the respondents were of the opinion that they do not conduct fun at work programs, and only 20% were of the opinion that they conduct fun at work programs frequently. 10% of the respondents were of the opinion that they are very much happy with the pay.40% are happy with the pay and 50% are not at all happy with the pay. 90% of the respondents were satisfied with current environment and culture 10% of the respondents were not satisfied.

Most of the respondents feel that there is very good relationship between the employees in the organization.

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41 employees are satisfied with the compensation given to them and only 9 are dissatisfied.

Most of them will remain in the organization even if they get higher salary outside.

Most of the employees agree that supervisors treat them equally and fairly.

Most of the employees are satisfied with the training and development programs in the organization.

Most of the employees feel that there is no work overload within the organization. All respondents feel that they are rewarded for their better performance. Most of the employees are highly satisfied with the working Environment in Spencers Retails.

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CHAPTER 5

CONCLUSION

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CONCLUSION
The study on employee retention helps the management to know the governing factors that affect employees satisfaction and thereby employee retention. In Spencers Retails Ltd. employees are treated equally and fairly. Good working culture and welfare facilities make employees stick on to the company even if the salary is less. There have a good relationship between superiors and subordinates. Communication gap is very less. Many employee engagement activities are carried out at in the organization. Employees have career growth at Spencers.

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CHAPTER 6

SUGGESTIONS & RECOMMENDATIONS


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SUGGESTIONS
The salary of the employees must be fair. Fun Day and other employee engagement activities must be carried out on regular basis. The management should see that the employees are not bored in their work. Team work should be motivated up to the mark. Employees should be compensated for their extra working hours. Employees should be properly monitored. The Spencers has to give full authority to all the team members to drive their respective team members/ Departments. All stores should be given by sufficient no. of employees.

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Appropriate training should be provided according to performance appraisal. Informal counseling helps to address and manage grievances in the workplace. Conflict management strategies must be adopted. Open door policy can be used. The barriers that exist between the various categories are to some extent broken by personal contact and mutual understanding. Care must be taken to place the women employees in the morning shift, as it cause then inconvenience to travel during night hours.

CHAPTER-7
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APPENDICES AND APPENDICES

ANNEXURE-1 A STUDY ON EMPLOYEE RETENTION AT SPENCERS RETAILS, BANGALORE QUESTIONNAIRE Dear Sir/Madam, I PRIYANKA GOPAL student of 4th Sem MBA doing a study on Employee Retention in your company SPENCERS RETAIL LIMITED, Bangalore. I will be obliged if you help me to complete my project which is prescribed by Mahatma Gandhi University. The information provided by you will be kept confidential.

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NAME (Optional): GENDER : M F

DESIGNATION : . QUALIFICATION : Graduate Post Graduate Diploma

Others.(Specify) 1.How would you rate employee motivation in this company? Highly effective Effective No opinion Ineffective Highly ineffective 2.Do you conduct surveys to compare how your compensation policies fair against your competitors? Frequently Occasionally Sometimes Rarely Never

3.Do you encourage your employees to give their opinions or suggestions? Frequently

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Occasionally Sometimes Rarely Never 4.How often do you conduct fun at work programs? Frequently Occasionally Sometimes Rarely Never 5.Are you satisfied with your salary Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied 6.Are you satisfied with the current environment, culture and policies of the organization? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied

7.How long have you been working in this organisation?


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<6months <1yr <2yrs <3yrs >3yrs 8.Are you satisfied with the relationship between you and other employees? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied

9.Are you satisfied with the feedback about your performance? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied

10.Are you satisfied with the working environment? Highly satisfied Satisfied No opinion Dissatisfied

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Highly dissatisfied 11.Are you satisfied with the way supervisors treat you? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied

12.Are you satisfied with the training and development programs in company? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied 13.Are you satisfied with the promotion criteria and practices of the organisation? Highly satisfied Satisfied No opinion Dissatisfied Highly dissatisfied 14.Do you agree that there is work load in this company? Totally Agree Agree No opinion
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Disagree Totally disagree

15.You would move to another company if they offer more salary Totally Agree Agree No opinion Disagree Totally disagree 16.Do you agree that your compensation is fair? Totally Agree Agree No opinion Disagree Totally disagree

17.Do you agree that you have freedom to express your grievances with your superiors? Totally Agree Agree No opinion Disagree Totally disagree

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REFERENCES

BOOKS 1. Kothari C.R., Research methodology, published by Tata Mc Graw-Hill Publishing Company Ltd., 13th Edition, 1982. 2. Gupta, S.P., and Gupta, M.P., Business Statistics, Published by Sultan Chand & Sons, 7th Edition, 1989.
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3. Personnel Management by C.B.Mamoria & S.V.Gankar, Published by Himalaya Publishing House.

WEBSITE 1.http://en.wikipedia.org/wiki/Hypermarket

2.http:/www.naukrihub.com

3.http:/www.spencer.com

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