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CHAPTER - 1 INTRODUCTION

Introduction
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In an ideal world, emplo ee! wor" #ard, lo$e %#eir &o', wor!#ip %#eir wor"pla(e, )eel li"e a )amil and wo*ld ne$er lea$e+ B*% le%,! loo" a% %#e real world, w#ere emplo ee -*i%e a% %#e drop o) a #a%+ How (an a%%ri%ion 'e (on%rolled. A((ording %o ARTHUR /E0IS1 H*man Re!o*r(e i! a 'a!i( need o) an wor" %o 'e done+ There are great differences in development between countries which seem to have roughly equal resources, so it is necessary to enquire into the difference in human behaviors T#e pro&e(% repor% i! all a'o*% Emplo ee Re%en%ion a! re%en%ion managemen% i! a #ig#l %opi(al !*'&e(% and an impor%an% dilemma man organi2a%ion! mig#% )a(e in %#e )*%*re, i) no% )a(ing i% alread + 0e 'elie$e %#a% %#e leader pla ! a "e role in emplo ee re%en%ion and re%en%ion managemen%+ T#e (on(ep% o) re%en%ion managemen% (an 'o%# #a$e a narrow, and a 'roader !igni)i(an(e+ Emplo ee re%en%ion i! a pro(e!! in w#i(# %#e emplo ee! are en(o*raged %o remain wi%# %#e organi2a%ion )or %#e ma3im*m period o) %ime or *n%il %#e (omple%ion o) %#e pro&e(%+ Emplo ee re%en%ion i! 'ene)i(ial )or %#e organi2a%ion a! well a! %#e emplo ee+ T#e main (a*!e )or %#e mo$emen% i! la(" o) mo%i$a%ion, in(rea!ed e3pe(%a%ion, and in(rea!ed oppor%*ni% + A%%ri%ion al!o #appen! w#en people #a%e %#eir wor"ing (ondi%ion!, do no% li"e %#eir %eam4ma%e! or per#ap! do no% li"e w#a% %#e are doing+ Organi2a%ional (*l%*re #a! a grea% impa(% on w#o !%a ! and w#o goe!+ Al!o impor%an% o) pro$iding oppor%*ni%ie! )or de$elopmen% o) %#eir emplo ee! or %#eir (areer grow%# i! an impor%an% )a(%or in emplo ee a%%ri%ion+ 5o' mi!)i% i! al!o in %#e li!% o) %#e )a(%or!+ Today talented persons are like frogs in a wheelbarrow, which can jump at any point of time when they sense opportunities I #a$e %ried %o (o$er all %#e poin%! %#a% !#o*ld 'e "ep% in mind w#ile re%aining emplo ee! and $ario*! !%ra%egie! *!ed )or re%aining %#e emplo ee!+

1.1

Objective of study
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T#e o'&e(%i$e o) m !%*d i! %o *nder!%and and (ri%i(all anal !i! %#e Re%en%ion !%ra%eg o) di))eren% organi2a%ion+ 1+ To !%*d a%%ri%ion a! %#e ma&or pro'lem in %#e pre!en% !(enario+ 6+ To !%*d %#e e))e(%i$ene!! o) %#e re%en%ion pra(%i(e! adop%ed ' di))eren% !e(%or!+ 7+ 8+ To !%*d , w# people are lea$ing. Draw o*% mea!*re! %o red*(e emplo ee re%en%ion+

1.2

SCOPE OF STUDY
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T#e 'ene)i% o) %#e !%*d )or %#e re!ear(#er i! %#a% i% #elped %o gain "nowledge and e3perien(e and al!o pro$ided %#e oppor%*ni% organi!a%ion!+ T#e "e poin% o) re!ear(# !%*d are 14 1+ 6+ T#e )o(*! o) %#e !%*d i! %#a% #ow HR (an re%ain emplo ee! in %#eir ind*!%r + T#e !%*d will iden%i) %#e (a*!e and need %o )*l)ill %#e re-*iremen%! o) %#e emplo ee!+ mea!*re!9re(ommenda%ion! )or %#e impro$emen% o) %#e Emplo ee %o !%*d and *nder!%and %#e Re%en%ion poli(ie! o) di))eren%

7+ To !*gge!% an Re%en%ion+

1.3

ESE! C" #ET"ODO$O%Y


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A re!ear(# de!ign i! %#e !pe(i)i(a%ion o) me%#od! and pro(ed*re )or a(-*iring %#e in)orma%ion needed %o !%r*(%*re or %o !ol$e pro'lem!+ I% i! %#e o$erall opera%ion pa%%ern or )ramewor" o) %#e pro&e(% %#a% !%ip*la%e! w#a% in)orma%ion i! %o 'e (olle(%ed )rom w#i(# !o*r(e, and 'e w#a% pro(ed*re!+ &! rese'rc( desi)n is t(e 'rr'n)e*ent of condition for co++ection 'nd 'n'+ysis of d't' in ' *'nner t('t 'i*s to co*bine ,rocedure.. e+ev'nce to t(e rese'rc( ,ur,ose -it( econo*y in

/ind of ese'rc(
T#e re!ear(# done '

Descri,tive rese'rc(0
T#i! "ind o) re!ear(# #elp! %o pro$ide an!wer! %o %#e -*e!%ion! o) w#o, w#a%, w#en, w#ere, and #ow a!!o(ia%ed wi%# a par%i(*lar re!ear(# pro'lem+ I% i! *!ed %o o'%ain in)orma%ion (on(erning %#e (*rren% !%a%*! o) %#e p#enomena and %o de!(ri'e :w#a% e3i!%!: wi%# re!pe(% %o $aria'le! or (ondi%ion! in a !i%*a%ion+ De!(rip%i$e re!ear(# i! o) %wo % pe! 14 "istoric'+ rese'rc( ; T#i! % pe o) re!ear(# i! *!ed %o (olle(%, $eri) , and ! n%#e!i2e e$iden(e )rom %#e pa!% %o e!%a'li!# )a(%! %#a% de)end or re)*%e o*r # po%#e!i!+ C'us'+ Co*,'r'tive1 T#i! re!ear(# de!ign a%%emp%! %o e3plore (a*!e and a))e(% rela%ion!#ip! w#ere (a*!e! alread e3i!% and (anno% 'e manip*la%ed+ I% *!e! w#a% alread e3i!%! and loo"! 'a("ward %o e3plain w# +

S'*,+e Desi)n
Sample !i2e i! 7+ I% in(l*de! Big Ba2aar, /< and 0ipro+

1.2

S'*,+in) *et(ods 'nd tec(ni3ues


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Str'tified s'*,+e1 A !%ra%i)ied !ample i! a pro'a'ili% !ampling %e(#ni-*e in w#i(# %#e


re!ear(#er di$ide! %#e en%ire %arge% pop*la%ion in%o di))eren% !*'gro*p!, or !%ra%a, and %#en randoml !ele(%! %#e )inal !*'&e(%! propor%ionall )rom %#e di))eren% !%ra%a+ Str'tific'tion i! %#e pro(e!! o) di$iding mem'er! o) %#e pop*la%ion in%o #omogeneo*! !*'gro*p! 'e)ore !ampling+ T#e !%ra%a !#o*ld 'e m*%*all e3(l*!i$e1 e$er elemen% in %#e pop*la%ion m*!% 'e a!!igned %o onl one !%ra%*m+ T#e !%ra%a !#o*ld al!o 'e (olle(%i$el e3#a*!%i$e1 no pop*la%ion elemen% (an 'e e3(l*ded+ T#en !imple random !ampling or ! !%ema%i( !ampling i! applied wi%#in ea(# !%ra%*m+ T#i! o)%en impro$e! %#e repre!en%a%i$ene!! o) %#e !ample ' red*(ing !ampling error+ randoml !ele(%! %#e )inal !*'&e(%! propor%ionall di))eren% !e(%or! are %a"en+ )rom %#e di))eren% !%ra%a+ In %#i!, >ompanie! )rom

1.4

Too+s 'nd Tec(ni3ues

%r',(ic'+ 'n'+ysis i! al!o *!ed %o !%*d %#e da%a+

1.5
Second'ry d't'01

D't' Co++ection sources

T#e da%a wa! (olle(%ed ' !e(ondar !o*r(e!+

B going %#ro*g# $ario*! re(ord! B going %#ro*g# maga2ine! o) (ompan 0e'!i%e o) %#e (ompanie!

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CHAPTER - 2 REVIEW OF LITERATURE

2.1

"U#!6 ESOU CE #!6!%E#E6T


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"u*'n resource *'n')e*ent AHRMB i! %#e !%ra%egi( and (o#eren%

approa(# %o %#e o)

managemen% an organi2a%ionC! mo!% $al*ed a!!e%! 4 %#e people wor"ing %#ere w#o indi$id*all and (olle(%i$el (on%ri'*%e %o %#e a(#ie$emen% o) %#e o'&e(%i$e! o) %#e '*!ine!!+ T#e %erm! :#*man re!o*r(e managemen%: and :#*man re!o*r(e!: AHRB #a$e largel repla(ed %#e %erm :per!onnel managemen%: a! a de!(rip%ion o) %#e pro(e!!e! in$ol$ed in managing people in organi2a%ion!+ H*man Re!o*r(e managemen% i! e$ol$ing rapidl + H*man re!o*r(e managemen% i! 'o%# an a(ademi( %#eor and a '*!ine!! pra(%i(e %#a% addre!!e! %#e %#eore%i(al and pra(%i(al %e(#ni-*e! o) managing a wor")or(e+ T#e H*man Re!o*r(e! Managemen% AHRMB )*n(%ion in(l*de! a $arie% o) a(%i$i%ie!, and "e among %#em i! de(iding w#a% !%a))ing need! o* #a$e and w#e%#er %o *!e independen% (on%ra(%or! or #ire emplo ee! %o )ill %#e!e need!, re(r*i%ing and %raining %#e 'e!% emplo ee!, en!*ring %#e are #ig# per)ormer!, dealing wi%# per)orman(e i!!*e!, and en!*ring o*r per!onnel and managemen% pra(%i(e! (on)orm %o $ario*! reg*la%ion!+ A(%i$i%ie! al!o in(l*de managing o*r approa(# %o emplo ee 'ene)i%! and (ompen!a%ion, emplo ee re(ord! and per!onnel poli(ie!+ U!*all !mall '*!ine!!e! A)or4pro)i% or nonpro)i%B #a$e %o (arr o*% %#e!e a(%i$i%ie! %#em!el$e! 'e(a*!e %#e (anC% e% a))ord par%4 or )*ll4%ime #elp+ Howe$er, %#e !#o*ld alwa ! en!*re %#a% emplo ee! #a$e 44 and are aware o) 44 per!onnel poli(ie! w#i(# (on)orm %o (*rren% reg*la%ion!+ T#e!e poli(ie! are o)%en in %#e )orm o) emplo ee man*al!, w#i(# all emplo ee! #a$e+ HRM i! !een ' pra(%i%ioner! in %#e )ield a! a more inno$a%i$e $iew o) wor"pla(e managemen% %#an %#e %radi%ional approa(#+ I%! %e(#ni-*e! )or(e %#e manager! o) an en%erpri!e %o e3pre!! %#eir goal! wi%# !pe(i)i(i% !o %#a% %#e (an 'e *nder!%ood and *nder%a"en ' %#e wor")or(e and %o pro$ide %#e re!o*r(e! needed )or %#em %o !*((e!!)*ll a((ompli!# %#eir a!!ignmen%!+ A! !*(#, HRM %e(#ni-*e!, w#en properl pra(%i(ed, are e3pre!!i$e o) %#e goal! and opera%ing pra(%i(e! o) %#e en%erpri!e o$erall+ HRM i! al!o !een ' man %o #a$e a "e role in ri!" red*(%ion wi%#in organi2a%ion!+ T#ere i! a long4!%anding arg*men% a'o*% w#ere HR4rela%ed )*n(%ion! !#o*ld 'e organi2ed in%o large organi2a%ion!, eg, :!#o*ld HR 'e in %#e Organi2a%ion De$elopmen% depar%men% or %#e o%#er wa aro*nd.:

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T#e HRM )*n(%ion and HRD pro)e!!ion #a$e *ndergone %remendo*! (#ange o$er %#e pa!% 6E47E ear!+ Man ear! ago, large organi2a%ion! loo"ed %o %#e :Per!onnel Depar%men%,: mo!%l %o manage %#e paperwor" aro*nd #iring and pa ing people+ More re(en%l , organi2a%ion! (on!ider %#e :HR Depar%men%: a! pla ing a ma&or role in !%a))ing, %raining and #elping %o manage people !o %#a% people and %#e organi2a%ion are per)orming a% ma3im*m (apa'ili% in a #ig#l )*l)illing manner+

2.2

E*,+oyee etention
emplo er! %o (rea%e and )o!%er an

E))e(%i$e emplo ee re%en%ion i! a ! !%ema%i( e))or% '

en$ironmen% %#a% en(o*rage! (*rren% emplo ee! %o remain emplo ed ' #a$ing poli(ie! and Page | F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

pra(%i(e! in pla(e %#a% addre!! %#eir di$er!e need!+ A !%rong re%en%ion !%ra%eg power)*l re(r*i%men% %ool+

'e(ome! a

Re%en%ion o) "e emplo ee! i! (ri%i(al %o %#e long4%erm #eal%# and !*((e!! o) an organi2a%ion+ I% i! a "nown )a(% %#a% re%aining o*r 'e!% emplo ee! en!*re! (*!%omer !a%i!)a(%ion, in(rea!ed prod*(% !ale!, !a%i!)ied (olleag*e! and repor%ing !%a)), e))e(%i$e !*((e!!ion planning and deepl im'edded organi2a%ional "nowledge and learning+ Emplo ee re%en%ion ma%%er! a! organi2a%ional i!!*e! !*(# a! %raining %ime and in$e!%men%G lo!% "nowledgeG in!e(*re emplo ee! and a (o!%l (andida%e !ear(# are in$ol$ed+ Hen(e )ailing %o re%ain a "e emplo ee i! a (o!%l propo!i%ion )or an organi2a%ion+ Hario*! e!%ima%e! !*gge!% %#a% lo!ing a middle manager in mo!% organi2a%ion! (o!%! *p %o )i$e %ime! o) #i! !alar + In%elligen% emplo er! alwa ! reali!e %#e impor%an(e o) re%aining %#e 'e!% %alen%+ Re%aining %alen% #a! ne$er 'een !o impor%an% in %#e Indian !(enarioG #owe$er, %#ing! #a$e (#anged in re(en% ear!+ In prominen% Indian me%ro! a% lea!%, %#ere i! no dear%# o) oppor%*ni%ie! )or %#e 'e!% in %#e '*!ine!!, or e$en )or %#e !e(ond or %#e %#ird 'e!%+ Re%en%ion o) "e emplo ee! and %rea%ing a%%ri%ion %ro*'le! #a! ne$er 'een !o impor%an% %o (ompanie!+ In an in%en!el (ompe%i%i$e en$ironmen%, w#ere HR manager! are poa(#ing )rom ea(# o%#er, organi!a%ion! (an ei%#er #old on %o %#eir emplo ee! %ig#% or lo!e %#em %o (ompe%i%ion+ For gone are %#e da !, w#en emplo ee! wo*ld !%i(" %o an emplo er )or ear! )or wan% o) a 'e%%er (#oi(e+ Now, oppor%*ni%ie! a'o*nd+ I% i! a )a(% %#a%, re%en%ion o) "e emplo ee! i! (ri%i(al %o %#e long4%erm #eal%# and !*((e!! o) an organi!a%ion+ T#e per)orman(e o) emplo ee! i! o)%en lin"ed dire(%l %o -*ali% wor", (*!%omer !a%i!)a(%ion, and in(rea!ed prod*(% !ale! and e$en %o %#e image o) a (ompan + 0#erea! %#e !ame i! o)%en indire(%l lin"ed %o, !a%i!)ied (olleag*e! and repor%ing !%a)), e))e(%i$e !*((e!!ion planning and deepl em'edded organi!a%ional "nowledge and learning+ Emplo ee re%en%ion ma%%er!, a!, organi!a%ional i!!*e! !*(# a! %raining %ime and in$e!%men%, (o!%l (andida%e !ear(# e%(+, are in$ol$ed+ Hen(e, )ailing %o re%ain a "e emplo ee i! a (o!%l propo!i%ion )or an organi!a%ion+ Hario*! e!%ima%e! !*gge!% %#a% lo!ing a middle manager in mo!% organi!a%ion!, %ran!la%e! %o a lo!! o) *p %o )i$e %ime! #i! !alar + T#i! mig#% 'e wor!e )or BPO Page | 1E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

(ompanie! w#ere )re!# %alen% i! in%en!i$el %rained and ind*(%ed and %#en )*r%#er groomed %o %#e !*((e!!i$e !%age!+ In %#i! !(enario, %#e lo!! o) a middle manager (an o)%en pro$e dear+ In )a(%, !ome repor%! !*gge!% %#a% a%%ri%ion le$el! in IT (ompanie! are a! #ig# a! 8E per (en%+ T#e onl wa o*% i! %o de$elop appropria%e re%en%ion !%ra%egie!+ T#o*g# BPO ind*!%r !#oo%! a#ead a% 8E %o =E per (en% a ear, i% i! now lo!ing 7= %o 8E per (en% o) i%! 7=E,EEE4odd emplo ee! a! well+ In India %#ere are )ew !e(%or! w#ere %#e a%%ri%ion le$el i! m*(# larger (ompared %o o%#er !e(%or!+ For e3ample1 IT !e(%or and BPO+ 0#ere a! %#ere are organi2a%ion! li"e Air India, HA/, DRDO, BAR> w#ere %#e a%%ri%ion i! nearl =I or le!! %#an %#a%+ Emplo ee Re%en%ion S%ra%egie! #elp! organi2a%ion! pro$ide e))e(%i$e e*,+oyee (omm*ni(a%ion %o impro$e (ommi%men% and en#an(e wor")or(e !*ppor% )or "e (orpora%e ini%ia%i$e!+

2.2.1

T(e I*,ort'nce of et'inin) E*,+oyees

T#e (#allenge o) "eeping emplo ee!1 I%! (#anging )a(e #a! !%*mped manager! and '*!ine!! owner! ali"e+ How do o* manage %#i! (#allenge. How do o* '*ild a wor"pla(e %#a% emplo ee! wan% %o remain wi%# J and o*%!ider! wan% %o 'e #ired in%o. S*((e!!)*l manager! and '*!ine!! owner! a!" %#em!el$e! %#e!e and o%#er -*e!%ion! 'e(a*!eK !impl p*%Kemplo ee re%en%ion matters1 Hig# %*rno$er o)%en lea$e! (*!%omer! and emplo ee! in %#e l*r(#G depar%ing emplo ee! %a"e a grea% deal o) "nowledge wi%# %#em+ T#i! la(" o) (on%in*i% organi2a%ion,! goal! and !er$e (*!%omer! well+ Repla(ing emplo ee! (o!%! mone + T#e (o!% o) repla(ing an emplo ee i! e!%ima%ed a! *p %o %wi(e %#e indi$id*al,! ann*al !alar Aor #ig#er )or !ome po!i%ion!, !*(# a! middle managemen%B, and %#i! doe!n,% e$en in(l*de %#e (o!% o) lo!% "nowledge+ Re(r*i%ing emplo ee! (on!*me! a grea% deal o) %ime and e))or%, m*(# o) i% )*%ile+ Lo*,re no% %#e onl one o*% %#ere $ ing )or -*ali)ied emplo ee!, and &o' !ear(#er! ma"e de(i!ion! 'a!ed on more %#an %#e !*m o) !alar and 'ene)i%!+ ma"e! i% #ard %o mee% o*r

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Bringing emplo ee! *p %o !peed %a"e! e$en more %ime+ And w#en o*,re !#or%4!%a))ed, o* o)%en need %o p*% in e3%ra %ime %o ge% %#e wor" done+

2.2.2

T(e T(ree s of E*,+oyee etention

To "eep emplo ee! and "eep !a%i!)a(%ion #ig#, o* need %o implemen% ea(# o) %#e %#ree R! o) emplo ee re%en%ion1 re!pe(%, re(ogni%ion, and reward!+

RESPE> T

RE>O<NITION

RE0ARD

Fig*re 1 M T#ree R! o) Emplo ee Re%en%ion es,ect i! e!%eem, !pe(ial regard, or par%i(*lar (on!idera%ion gi$en %o people+ A! %#e p ramid
!#ow!, re!pe(% i! %#e )o*nda%ion o) "eeping o*r emplo ee!+ Re(ogni%ion and reward! will #a$e li%%le e))e(% i) o* don,% re!pe(% emplo ee!+ Page | 16 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

eco)nition i! de)ined a! N!pe(ial no%i(e or a%%en%ionO and N%#e a(% o) per(ei$ing (learl +O
Man pro'lem! wi%# re%en%ion and morale o((*r 'e(a*!e managemen% i! no% pa ing a%%en%ion %o people,! need! and rea(%ion!+

e-'rds are %#e e3%ra per"! o* o))er 'e ond %#e 'a!i(! o) re!pe(% and re(ogni%ion %#a% ma"e i%
wor%# people,! w#ile %o wor" #ard, %o (are, %o go 'e ond %#e (all o) d*% + 0#ile reward! repre!en% %#e !malle!% por%ion o) %#e re%en%ion e-*a%ion, %#e are !%ill an impor%an% one+ 0#en o* implemen% %#e N%#ree R!O approa(#, o* will red*(e %*rno$er and en&o %#e )ollowing1 In(rea!ed prod*(%i$i% Red*(ed a'!en%eei!m A more plea!an% wor" en$ironmen% A)or 'o%# emplo ee! and o*PB Impro$ed pro)i%! F*r%#ermore, an emplo er w#o implemen%! %#e %#ree R! will (rea%e a #ard4%o lea$e wor"pla(e, one "nown a! #a$ing more %o o))er emplo ee! %#an o%#er emplo er!+ Lo* 'e(ome a #ard4%o4 lea$e wor"pla(eKone wi%# a wai%ing li!% o) appli(an%! )or an po!i%ion %#a% 'e(ome! a$aila'leK p*rpo!e)*ll , one da a% a %ime+

2.2.3

KEis E#P$OYEE

ETE6TIO6 7"EE$

T#e )ir!% !%ep %o impro$ing o*r emplo ee re%en%ion i! %o *nder!%and w# emplo ee! !%a wi%# %#eir (*rren% emplo er+ Man :e3per%!: dwell on %#e rea!on! emplo ee! lea$e, w#i(# i! no% a! Page | 17 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

impor%an% or re$ealing a! %#e rea!on! %#e !%a + >ompanie! #a$e %ried man di))eren% program! and per"! %o #old on%o good emplo ee!+ Howe$er, !%*die! !#ow %#a% %#e!e e))or%! are no% eno*g# %o re%ain good emplo ee! w#en %#e !*ppor% %#a% i! needed %o a(#ie$e &o' !*((e!! i! no% ade-*a%e+ Don8t 7'ste Your #oney on T(in)s T('t Don8t #'9e ' Difference... Among %#e (o*n%le!! ind*(emen%! o))ered, onl %#o!e iden%i)ied in %#e (en%er o) /Ei8s E*,+oyee etention 7(ee+: are %r*l w#a% gi$e emplo ee! a (on!i!%en% rea!on )or !a ing :no %#an" o*: w#en %emp%ed wi%# a :!wee%er o))er+: A)%er ear! o) !%*d and e3perien(e, QEi #a! de%ermined, and pre!en%ed in %#e Re%en%ion 0#eel, w#a% )a(%or! do #a$e %#e grea%e!% impa(% on "eeping emplo ee!+ QEi #a! *!ed %#i! in)orma%ion %o gi$e emplo er! %#e %ool! %o mee% %#e (ore need! %#a% "eep emplo ee! !*((e!!)*l a% %#eir &o'!, %#*! red*(ing %#e #ig# (o!%! a!!o(ia%ed wi%# *nwan%ed emplo ee %*rno$er+

Page | 18 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fi)ure 2 ; /Ei<s E#P$OYEE ETE6TIO6 7"EE$

Page | 1= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Usin) t(e 7(ee+ to I*,rove E*,+oyee etention


QEiC! Emplo ee Re%en%ion S%ra%eg i! 'a!ed *pon %wo primar 'elie)!1 A1B I% i! di))i(*l% )or emplo er! %o re%ain good emplo ee! i) %#e donC% #a$e a pro(e!! %o #ire %#e rig#% people in %#e )ir!% pla(e+ A6B Re%en%ion pro(e!!e! m*!% dire(%l emplo ee! !%a + QEiC! (on(en%ra%ion on %#e (en%er o) %#e Emplo ee Re%en%ion 0#eel pro$ide! emplo er! wi%# In%erne%4'a!ed %ool! %#a% gi$e emplo ee! ! !%ema%i(, ongoing !*ppor% %o 'e !*((e!!)*l in %#eir wor" and !a%i!)ied wi%# %#eir emplo men%+ !*ppor% %#e rea!on! %#a% !*((e!!)*l, !a%i!)ied

T(e Center of /Ei8s E*,+oyee etention 7(ee+0 EI%"T F!CTO S


Definition of successfu+0 m &o' i! #elping me %o grow per!onall , pro)e!!ionall and
)inan(iall +

Definition of s'tisfied0 m emplo er i! pro$iding w#a% I need %o per)orm m &o'


!*((e!!)*ll + T#e!e ei)(t centr'+ pro(e!!e! o) %#e Emplo ee Re%en%ion 0#eel are %#e )a(%or! %#a% are mo!% (ri%i(al %o an emplo eeC! &o' per)orman(e !*((e!!+ !TTITUDE FO E#P$OYI6% A pro(e!! %o (learl de)ine %#e wa !*per$i!or! are e3pe(%ed %o in%era(% wi%# emplo ee!G a pro(e!! %o gi$e emplo ee! a wa %o e3pre!! w#a% i! mo!% impor%an% %o a(#ie$e &o' !*((e!!G and a pro(e!! %o gi$e emplo er! a wa %o demon!%ra%e :Emplo ing Hal*e!: %#ro*g# emplo men% poli(ie!+ T#i! :Emplo er Mi!!ion S%a%emen%: i! a'o*% #ow and w#o o* #ire, #ow o* %rea% %#em,

Page | 1? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

and %#e organi2a%ionC! $al*e! a! an emplo er+ I% i! a'o*% ma"ing !*re %#a% %#e Hal*e! )or Emplo ingR are (omm*ni(a%ed %o !alar and %radi%ional 'ene)i%!+ o*r emplo ee! and (on!i!%en%l implemen%ed %#ro*g#o*% o*r organi2a%ion+ I% i! a'o*% %#e %o%al emplo men% pa("age %#a% goe! 'e ond

FI6DI6% C!6DID!TES A pro(e!! %#a% gi$e! emplo er! a (ompre#en!i$e wa %o (omm*ni(a%e %o &o' !ee"er! w#a% i% %a"e! %o a(#ie$e !#or%4%erm and long4%erm &o' !*((e!!, and %o a%%ra(% %#e (andida%e! w#o )i% %#i! (ri%eria+ SO TI6% !PP$IC!6TS A pro(e!! %#a% gi$e! emplo er! a wa %o (on)irm w#e%#er %#e a%%i%*de! and 'e#a$ior! o) &o' !ee"er! are a ma%(# )or %#eir wor" en$ironmen%+ C"OOSI6% E#P$OYEES A pro(e!! %#a% gi$e! emplo er! a wa %o de)ine %#e !pe(i)i( in%er$iew -*e!%ion! %#a% pro$e &o' !ee"er a'ili%ie! %o !*((e!!)*ll per)orm %#e %arge% !"ill!G and a pro(e!! %#a% gi$e! emplo er! a wa re!pon!e!+ ST! TI6% E#P$OYEES A pro(e!! %#a% pro$ide! a wa )or new emplo ee! A'e)ore per)orming %#e &o'B %o %o $eri) %#e a((*ra( o) re!*me9appli(a%ion da%a and in%er$iew

*nder!%and :w# %#e emplo er! '*!ine!! e3i!%!G: :w#a% ma"e! %#e '*!ine!! organi2a%ion !*((e!!)*lG: :w# %#e emplo eeC! &o' e3i!%!G: and :w#a% i% will %a"e )or %#e emplo ee %o a(#ie$e &o' !*((e!!+: I6FO #I6% E#P$OYEES

Page | 1@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

A pro(e!! %#a% gi$e! emplo er! a wa %o pro$ide e!!en%ial in)orma%ion A)rom )i$e (ri%i(al in)orma%ion !o*r(e!B %#a% i! needed ' emplo ee! %o ma"e dail wor" de(i!ion!+ I#P O=I6% E#P$OYEES A pro(e!! %#a% gi$e! !*per$i!or! and emplo ee! a wa gi$e! %#e emplo er a wa %o wor" %oge%#er %o '*ild

per!onali2ed plan! )or impro$ing ea(# emplo eeC! priori% &o' !"ill!G and a pro(e!! %#a% %o :deli$er !"ill!4impro$ing %raining (*rri(*l*m: and %o :mea!*re %#e learning e))e(%i$ene!!: )rom %#e %raining e3perien(e!+ E7! DI6% E#P$OYEES A pro(e!! %#a% gi$e! emplo er! a wa %o de)ine and (omm*ni(a%e e3a(%l #ow indi$id*al emplo ee !alarie! are de%erminedG and a pro(e!! %#a% gi$e! emplo er! a wa %o pro$ide emplo ee! wi%# e3%ra in(en%i$e in(ome %#a% i! earned %#ro*g# %#e a(#ie$emen% o) (a!# genera%ing '*!ine!! goal!+

2.3

10 WAYS TO RETAIN YOUR EMPLOYEE

Re%aining "e per!onnel i! (ri%i(al %o long %erm !*((e!! o) an organi2a%ion+ A Re%en%ion S%ra%eg Page | 1D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

#a! 'e(ome e!!en%ial i) o*r organi2a%ion i! %o 'e prod*(%i$e o$er %ime and (an 'e(ome an impor%an% par% o) o*r #iring !%ra%eg ' a%%ra(%ing %#e 'e!% (andida%e! w#o "now o) o*r %ra(" re(ord )or (aring )or emplo ee!+ In )a(%, !ome (ompanie! do no% #a$e %o re(r*i% 'e(a*!e %#e re(ei$e !o man -*ali)ied *n!oli(i%ed !*'mi!!ion! d*e %o %#eir #i!%or o) e3(ellen(e in emplo ee re%en%ion+ How do o* ge% o*r emplo ee! %o :)all in /o$e: wi%# o*r organi2a%ion. T#i! i! a grea% -*e!%ion+ Some re(en%l (ond*(%ed re!ear(# li!%! %#e!e Top Ten S%ra%egie!1 1. Tre't your e*,+oyees +i9e you tre't your *ost v'+u'b+e c+ients. I% i! (#eaper %o "eep o*r good emplo ee! %#an i% i! %o #ire and %rain new one!+ Lo*r %op 6E4 6=I !#o*ld 'e (o*r%ed a! o* wo*ld (o*r% and %#en !er$i(e o*r %op (*!%omer!+ 2. %et your e*,+oyees to >F'++ in $ove> -it( your or)'ni?'tion. >omm*ni(a%e o*r $i!ion in a (ompelling wa + S#ow e$er one %#e role %#e #a$e %o (on%ri'*%e %o %#i! $i!ion+ >rea%e oppor%*ni%ie! )or people %o (onne(% wi%# ea(# o%#er )or !*ppor% and %o impro$e (omm*ni(a%ion in wor" %eam!+ >ap%*re %#e Hear%! o) o*r wor")or(e wi%#1 >ompelling $i!ion9Balan(e9>ele'ra%ion4 F*n Open >omm*ni(a%ion1 In%ernal li!%ening i! a priori% , m*l%iple line! o) (omm*ni(a%ion A$ario*! (#annel!+B T#i! i! e!!en%ial )or managing (#ange in a po!i%i$e wa wi%# le!! !a'o%age, anger, re!i!%an(e, and )ear+ >rea%e par%ner!#ip!1 S-*a!# !%a%*! 'arrier!9Open %#e 'oo"!9pa )or per)orman(e Ano% %i%le!B, !#are %#e :'ad: %ime! %#e :good: %ime!+ Dri$e /earning1 :<*aran%ee Emplo a'ili% ,: En(o*rage /i)e /ong /earning ATrain o*%!ide o) &o' de!(rip%ionB+ /o al% (ome! )rom %r*!%ing o*r emplo ee! %o de$elop %#eir !"ill! )or %#e good o) %#e (ompan and )or %#eir need! )or per!onal grow%# and !a%i!)a(%ion+ Eman(ipa%e A(%ion1 Freedom %o Fail, red*(e '*rea*(ra( , (#allenge %#e :!%a%*! -*o+: Brea%#e li)e in%o o*r organi2a%ion+ Do no% le% o*r emplo ee! !%agna%e+

3. S%rong re%en%ion !%ra%egie! 'e(ome !%rong re(r*i%ing ad$an%age!+

Page | 1F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

2.

etention is *uc( *ore effective -(en you ,ut t(e ri)(t ,erson into t(e ri)(t job. /no- t(e job@ /no- t(e e*,+oyee 'nd t(eir *otiv'tions.
Hal) o) %#e For%*ne =EE (ompanie! are now *!ing a!!e!!men%! %o more )*ll *nder!%and ea(# &o' and %#e !o)% !"ill! %#a% are re-*ired )or %op prod*(%ion wi%#in %#eir !pe(i)i( (ompan (*l%*re+ T#e!e 'en(#mar"ed !"ill! are %#en (ompared again!% -*ali)ied appli(an%! %o #elp de%ermine w#o will 'e !*((e!!)*l in %#e po!i%ion and )i% well wi%#in %#eir (ompan C! (*l%*re+ T#e!e a!!e!!men%! are al!o *!ed a! a power)*l pro)e!!ional de$elopmen% %ool %o en#an(e %#e %raining o) (on%in*o*! li)e4long learning Aw#i(# i! ano%#er power)*l re%en%ion !%ra%eg +B Ad$an(ed Fi're >omm*ni(a%ion i! 'eginning %o *!e %#i! a!!e!!men% pro(e!! in #iring+

4. #oney is i*,ort'nt but it is not t(e on+y re'son ,eo,+e st'y -it( 'n

or)'ni?'tion. I) o*r (ompen!a%ion plan i! in %#e %op 6E47EI o) o*r ind*!%r , %#en
mone will o)%en no% 'e %#e rea!on w# people lea$e+ 5. E*,+oyee co**ittees to (e+, deve+o, retention str'te)ies is ' very

effective str'te)y. <e% %#eir inp*%P A!", w#a% do people li"e a'o*% wor"ing #ere. 0#a%
wo*ld o* li"e (#anged %o ma"e o*r (ompan a 'e%%er pla(e %o wor". Some (ompanie!, !*(# a! Ad$an(e Fi're >omm*ni(a%ion AAF>B, #a$e re(ogni2ed %#a% %#e !pe(ial engineer! and %e(#ni(al e3per%! %#a% are %#e (orner!%one! o) %#eir '*!ine!!, re-*ire !pe(ial a%%en%ion+ Hi(%oria Perra*l%, HP o) Admini!%ra%i$e Ser$i(e! )or AF>, !a ! %#a% #er (ompan #a! iden%i)ied %#e %op 6=I o) %#eir !%a)) and (a%er! %o %#e!e !pe(ial people ' mee%ing %#eir )inan(ial re-*iremen%! and loo"ing )or %#e 'e!% pa("age o) 'ene)i%! %#a% %#e!e people will )ind mo!% po!i%i$e a! in(en%i$e! %o !%a + T#e e$en #a$e emplo ee (ommi%%ee! %#a% wor" a! :)o(*! gro*p!: %o de%ermine w# people !%a a% AF> and w#a% %#e mig#% wan% %o !ee (#anged %o ma"e AF> an e$en 'e%%er pla(e %o wor"+ A. $e'ders(i, *ust be dee,+y invested in retention. Managemen% m*!% 'e !"ill)*l (omm*ni(a%ing (ompan poli(ie! in a wa %#a% (rea%e! :'* 4in: )rom %#eir !%a)) and 'e open %o emplo ee inp*%+ Help (rea%e :owner!#ip: in o*r emplo ee!+ T#e (ompanie! wi%# %#e 'e!% re%en%ion per(en%age! are %#e !ame (ompanie! %#a% are a(%i$el (ommi%%ed %o re%en%ion+ T#e "now %#a% i! (o!%! le!! %o "eep good people %#an %o (on%in*o*!l #a$e %o repla(e *n!a%i!)ied emplo ee! and manager!+

Page | 6E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

B.

eco)nitionC in v'rious for*sC is ' ,o-erfu+ retention str'te)y. I% doe! no%


#a$e %o (o!% a lo%+ US Dep%+ o) /a'or 4 8?I o) people lea$e %#eir &o'! 'e(a*!e %#e )eel *nappre(ia%ed+

D.

e*e*berC

t(e

>Fun

F'ctor>

is

very

i*,ort'nt

to

*'ny

e*,+oyees.

<reg Pe%er!, Pa!% Pre!iden% and >EO o) Ma#i Ne%wor"! in Pe%al*ma, i! one o) man e3e(*%i$e! w#o repor%ed %#a% re%en%ion i! o)%en rela%ed %o in%erper!onal (onne(%ion! and amo*n% o) FUN in wor" %eam!+ T#e FUN Fa(%or i! par% o) %#e genera%ion o) wor"er! %#a% *!e a(%i$i%ie! a! !%re!! managemen% in #ig#l (#arged prod*(%ion en$ironmen%! w#ere long #o*r! are re-*ired+ <reg #a! en(o*raged Ping4Pong %o*rnamen%! and 'a!"e%'all leag*e! )or in%erper!onal in%era(%ion, )*n, and !%re!! managemen%+ T#o*g# no% e$er one (an par%i(ipa%e in p# !i(al a(%i$i%ie!, %#i! !e%! %#e %one in a (*l%*re 'a!ed on (ompe%i%ion, #eal%#9well4'eing, and in%era(%ion! %#a% are in(l*!i$e 'e ond wor"+ 1E. /no- t(e trends in benefit ,'c9')es. Do your best to offer t(e ones your

e*,+oyees need. >on!ider o))ering %#e 'e!% o) %#e re!%+

2.2

#yt(s 'bout E*,+oyee #or'+e Prevent Co*,'nies fro* !c(ievin) etention Success
Page | 61 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

De!pi%e ear! o) re!ear(# %#a% poin% %o )ar di))eren% !ol*%ion!, man (ompanie! *!e %#e wrong %a(%i(! w#en %r ing %o impro$e emplo ee morale, !a%i!)a(%ion and re%en%ion+ T#e!e m %#! pre$ail, in par%, 'e(a*!e '*!ine!!e! #a$e *!ed %#e!e me%#od!, #owe$er wrong, )or a $er long %ime and #a$e 'e(ome *!ed %o %r ing %#e !ame idea!+

#yt( ;10 Peo,+e *ost often +e've ' co*,'ny for *ore ,'y.
E3i% in%er$iew!, (ond*(%ed %o learn w# people lea$e an organi2a%ion, (on%ain !ome o) Ameri(a,! grea%e!% )i(%ion+ People )re-*en%l !a %#e ,re lea$ing )or more mone 'e(a*!e i%,! %#e ea!ie!% rea!on %o gi$e+ More o)%en %#e (a*!e! leading %o depar%*re are rela%ed %o i!!*e! %#a% were *n!a%i!) ing in %#e &o' or %#e (ompan + Le!, pa doe! ma%%er+ 0#ile re!ear(# !#ow! mo!% people don,% a(%*all lea$e a &o' )or more mone , %#ere are %wo impor%an% )a(%!1 Her 4low4in(ome wor"er! will lea$e )or more mone 'e(a*!e i%,! a !*r$i$al i!!*e+ For %#e re!% o) wor"er!, %#e i!!*e o) mone a(%*all i! a'o*% )airne!!+ People 'e(ome di!!a%i!)ied wi%# pa w#en %#e )eel i% i! *n)air wi%#in %#e (ompan , wi%#in %#e ind*!%r or w#en pa doe!n,% !eem %o ma%(# %#e amo*n% or % pe o) wor" re-*ired+

#yt( ;20 Incentive ,ro)r'*s ,roduce +on)1ter* ,rofits 'nd i*,rove ,roductivity 'nd *or'+e.
So, w#o doe!n,% li"e )ree !%*)). Howe$er, in(en%i$e! !*(# a! gi)%! and (a!# 'on*!e! )or mee%ing !peed and $ol*me goal! don,% a))e(% emplo ee (ommi%men%+ T#e ,re reall a %#row'a(" %o o*%da%ed managemen% 'elie)! %#a% wor"er! m*!% 'e (oer(ed in order %o wor" #ard+ All %#e e3%ra! don,% add *p %o %#e real gl*e %#a% (rea%e! emplo ee (ommi%men%1 %#e (#an(e %o learn and grow, meaning)*l wor", good !*per$i!or! and re!pe(% and appre(ia%ion )or a &o' well done+ In(en%i$e! #a$e 'een o$er4*!ed par%i(*larl in %#e pa!% de(ade, a! managemen% 'oo"! %o*%ed %#e impor%an(e o) impro$ing re(ogni%ion o) e3(ellen% wor"+ Le%, !%*die! !#ow %#a% (arro%4and4 !%i(" mo%i$a%ion a(%*all doe! no% pa o)) in long4%erm (ompan pro)i%a'ili% or emplo ee !a%i!)a(%ion or re%en%ion+ To %#e (on%rar , in(en%i$e! (an #arm -*ali% w#en emplo ee! aim )or !peed or o%#er goal! ra%#er %#an -*ali% +

#yt( ; 30 Peo,+e don<t -'nt *ore res,onsibi+ity.

Page | 66 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

T#e don,% wan% more wor" i) %#e ,re alread o$erloaded d*e %o lean !%a))ingG '*% people indeed wan% %#e oppor%*ni% %o grow and de$elop %#eir !"ill!, ad$an(e %#eir (areer! and #a$e %#e oppor%*ni% )or grea%er $arie% + Qeep in mind w#a% %#e re!ear(# (on)irm!1 People do wan% %o %r new %#ing!, %o )eel !"ill)*l and %o e3perien(e %#e per!onal !a%i!)a(%ion o) #ig#er le$el! o) a(#ie$emen%+

#yt( ;20 $oy'+ty is de'd.


No% a% all, %#o*g# i% i! ailing in man organi2a%ion!+ People are !ee"ing grea%er wor"4li)e 'alan(e %#an in %#e pa!%, and emplo er! #a$e made grea% !%ride! in pro$iding more )le3i'le #o*r! and dre!! (ode!+ S%ill, people !ee" %o ma"e a (on%ri'*%ion, and organi2a%ion! %#a% pro$ide #eal%# do!e! o) %#e main !a%i!)ier! en&o !igni)i(an%l lower %*rno$er and #ig#er morale+ Pro)i%! are #ig#er, %oo, a((ording %o re(en% re!ear(# !%*die!+ T#ing! #a$e (#anged, indeed+ Toda ,! wor"er! will, in )a(%, (#ange (areer! and &o'! m*(# more o)%en+ 0#en %#e e(onom i! good, people #a$e 'e(ome m*(# more a% ea!e in (#anging (ompanie!, are more li"el %o a(-*ire new !"ill! and mo$e %o (ompanie! %#a% o))er grea%er (#an(e %o *!e more o) %#eir "nowledge and more willing %o %a"e %#e ri!"! o) !%ar%ing anew a% ano%#er organi2a%ion+

#yt( ;40 I*,rovin) e*,+oyee s'tisf'ction is eF,ensive.


Re!ear(# %ell! *! %#e %r*e !a%i!)ier! (an,% e$en 'e 'o*g#%1 (areer grow%#, meaning)*l wor", re!pe(% and appre(ia%ion and 'eing a'le %o in)l*en(e #ow wor" ge%! done+ In %#e!e leaner %ime! emplo er! #a$e %#e !ame oppor%*ni% %o gain %r*e lo al% de!pi%e lowered '*dge%!+ T#e %rin"e%! and pri2e! gi$en in re(ogni%ion and reward! program! aren,% ne(e!!ar ingredien%! )or de$eloping an engaged wor")or(e+ T#e Ngl*eO %#a% #old! people i! made o) m*(# di))eren% !%*))1 Managemen% %#a% li!%en! and re!pond! %o emplo ee!, idea! a'o*% impro$ing !er$i(e, !*per$i!or! w#o !*ppor% people,! grow%# and ini%ia%i$e, %raining in #ow %o do %#e &o' !*((e!!)*ll , good rela%ion!#ip! wi%# (owor"er! and gen*ine appre(ia%ion )or a &o' done well+ T#ere are no (o!%! in(*rred %o '*ild or en#an(e %#e!e mo%i$a%or!+

#yt( ;50 E*,+oyee s'tisf'ction is &f+uff..


Doe! #a$ing engaged wor"er! ma"e a di))eren(e in %#e 'o%%om line. S%*die! now !#ow %#a% lower %*rno$er and grea%er le$el! o) emplo ee !a%i!)a(%ion #a$e a de)ini%e po!i%i$e impa(% on

Page | 67 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

(*!%omer !a%i!)a(%ion and pro)i%a'ili% , w#i(# are %#e "e !*!%aina'ili% + >on!ider %#e!e )a(%!1 A !%rong lin" wa! )o*nd in a !%*d A((ording %o %#e Ameri(an So(ie% '

)a(%or! in (ompan

grow%# and

Pri(ewa%er#o*!e>ooper! 'e%ween emplo ee

re%en%ion and %#e -*ali% o) !er$i(e a! ra%ed ' (ompanie!, (*!%omer!+ o) Training S De$elopmen%, organi2a%ion! %#a% in$e!%ed %#e mo!% in %raining #ad #ig#er gro!! margin! and in(ome per emplo ee+ T#e (o!% o) repla(ing an emplo ee w#o lea$e! #a! 'een e!%ima%ed ' $ario*! !%*die! %o 'e 'e%ween @E and 6EE per(en% o) %#a% wor"er,! ann*al !alar + T#e >o*n(il on >ompe%i%i$ene!! )o*nd %#a% a 1E4per(en% in(rea!e in ed*(a%ion #a! a more po!i%i$e impa(% on prod*(%i$i% %#an a 1E4per(en% in(rea!e in wor" #o*r!+

#yt( ;A0 Su,ervisors 're t(e ,rob+e*.


Man !enior leader! e3pre!! di!ma a'o*% %#e -*ali% and a(%ion! o) %#eir middle manager! and )ron%4line !*per$i!or!+ T#e N'lame gameO i! old, e% %#e !ol*%ion! are !%ri"ingl !imilar %o %#o!e re-*ired %o '*ild an engaged wor")or(e+ In mo!% organi2a%ion! %oda , !*per$i!or! #a$e more people repor%ing %o %#em %#an in %#e pa!%, more demanding (*!%omer! %#an e$er and grea%er amo*n%! o) (#ange ; all o((*rring a% %#e !ame %ime+ Le%, %#e amo*n% o) %raining pro$ided %o manager! and !*per$i!or! in man organi2a%ion! i! minimal+ More impor%an%l , %#e amo*n% o) %ime %#a% !enior manager! !pend in dialog*e wi%# middle and line manager! al!o i! minimal+

#yt( ; B0 #y co*,'nyGindustryG,eo,+e 're different@


Le!, e$er (ompan i! *ni-*e, and e$er ind*!%r #a! i%! own !e% o) *n*!*al (#allenge!+ Howe$er, a $er (o!%l mi!%a"e i! made w#en we 'elie$e in)orma%ion )rom o%#er !e(%or! doe!n,% appl %o *! or o*r organi2a%ion+ Re%en%ion re!ear(# !%*die! (ro!! all ind*!%rie!, all % pe! o) wor" !e%%ing! and in $aried e(onomi( (ondi%ion!+ S%ill, %#e !ame re!*l%! (ome *p %ime and again+ 0e '*ild emplo ee lo al% ; and, indire(%l , (*!%omer lo al% ; %#ro*g# pro$iding people wi%# grow%# and learning oppor%*ni%ie!, minimi2ing red %ape, allowing people %o %#in" and ma"e good (#oi(e!, !*ppor%ing middle manager! and )ron%4line !*per$i!or! and appre(ia%ing %#e e))or%! %#a% people gi$e %o #elp o*r (*!%omer!+

Page | 68 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

I%,! downrig#% dangero*! %o ignore %#e!e )inding! ; ri!" %o %#e 'o%%om line and %#e organi2a%ion,! )*%*re+

2.4

1E F'ctors T('t !ffect E*,+oyee etention

Mo!% manager! *nder!%and %#e impor%an(e o) emplo ee re%en%ion and i%! impa(% on %#e o$erall #eal%# and $i%ali% o) an organi2a%ion+ T#e impor%an(e o) re%aining %op organi2a%ional %alen% will onl in(rea!e o$er %#e (oming ear! a! %#e ma!!i$e (o#or% o) 'a' 'oomer! 'egin %o rea(# re%iremen% age ma"ing i% ea! )or o*nger emplo ee! %o )ind wor"+ In a pre$io*! ar%i(le we iden%i)ied !ome *!e)*l %ip! %o #elp impro$e emplo ee re%en%ion in o*r organi2a%ion+ <i$en %#e impor%an(e o) emplo ee re%en%ion, we #a$e (ompiled ano%#er li!% o) 1E impor%an% )a(%or! %#a% (an a))e(% emplo ee re%en%ion in o*r organi2a%ion+

S(orten t(e feedb'c9 +oo,


Do no% wai% )or an ann*al per)orman(e e$al*a%ion %o (ome d*e %o gi$e )eed'a(" on #ow an emplo ee i! per)orming+ Mo!% %eam mem'er! en&o )re-*en% )eed'a(" a'o*% #ow %#e rein)or(e po!i%i$e 'e#a$ior+ Feed'a(" doe! no% ne(e!!aril are per)orming+ S#or%ening %#e )eed'a(" loop will #elp %o "eep per)orman(e le$el! #ig# and will need %o 'e !(#ed*led or #ig#l !%r*(%*redG !impl !%opping ' a %eam mem'erC! de!" and le%%ing %#em "now %#e are doing a good &o' on a (*rren% pro&e(% (an do wonder! )or morale and #elp %o in(rea!e re%en%ion+

Offer ' co*,etitive co*,ens'tion ,'c9')e


An %eam mem'er wan%! %o )eel %#a% #e or !#e i! 'eing paid appropria%el and )airl )or %#e wor" #e or !#e doe!+ Be !*re %o re!ear(# w#a% o%#er (ompanie! and organi2a%ion! are o))ering in %erm! o) !alar and 'ene)i%!+ I% i! al!o impor%an% %o re!ear(# w#a% %#e regional and na%ional (ompen!a%ion a$erage! are )or %#a% par%i(*lar po!i%ion+ Lo* (an 'e !*re %#a% i) o*r (ompen!a%ion pa("age i! no% (ompe%i%i$e, %eam mem'er! will )ind %#i! o*% and loo" )or emplo er! w#o are willing %o o))er more (ompe%i%i$e (ompen!a%ion pa("age!+ H'+'nce -or9 'nd ,erson'+ +ife Famil i! in(redi'l impor%an% %o %eam mem'er!+ 0#en wor" 'egin! %o p*% a !igni)i(an% !%rain on oneC! )amil no amo*n% o) mone will "eep an emplo ee aro*nd+ S%re!! %#e impor%an(e o) 'alan(ing wor" and oneC! per!onal li)e+ Small ge!%*re! !*(# a! allowing a %eam mem'er %o %a"e an e3%ended l*n(# on(e a wee" %o wa%(# #i! !onC! 'a!e'all game will li"el 'e repaid wi%# lo al% and e3%ended emplo men% wi%# an organi2a%ion+ Page | 6= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

He-'re of burnout
S%a)) ade-*a%el %o red*(e %#e amo*n% o) *nwan%ed o$er%ime a %eam mem'er m*!% wor"+ Some emplo ee! en&o %#e e3%ra mone %#a% a((ompanie! o$er%ime #o*r!, w#ile o%#er! wo*ld ra%#er !pend %#eir %ime wi%# %#eir )amilie! or doing o%#er a(%i$i%ie! %#e en&o + B*rno*% (an 'e a leading (a*!e o) %*rno$er+ Re(ogni2e %#e warning !ign! and gi$e emplo ee! a 'rea" w#en %#e need i%+ Provide o,,ortunities for )ro-t( 'nd deve+o,*ent O))er oppor%*ni%ie! )or %eam mem'er! %o a(-*ire new !"ill! and "nowledge *!e)*l %o %#e organi2a%ion+ I) an emplo ee appear! %o 'e 'ored or '*rned o*% in a (*rren% po!i%ion o))er %o %rain %#i! indi$id*al in ano%#er )a(e% o) %#e organi2a%ion w#ere #e or !#e wo*ld 'e a good )i%+ No'od wan%! %o )eel !%*(" in %#eir po!i%ion will no po!!i'ili% )or ad$an(emen% or new oppor%*ni%ie!+

T(e 'bi+ity to ,rovide in,ut 'nd be t'9en serious+y


E$er 'od #a! opinion! and idea!, !ome are 'e%%er %#an o%#er!+ Howe$er e$er %eam mem'er wan%! %o )eel %#a% %#eir inp*% i! wel(ome and will 'e %a"en !erio*!l wi%#o*% ridi(*le or (onde!(en!ion+ Some o) %#e grea%e!% idea! (an (ome )rom %#e mo!% *nli"el o) pla(e! and people+ >rea%ing a (*l%*re w#ere inp*% i! wel(ome )rom all le$el o) %#e organi2a%ional (#ar% will #elp o*r organi2a%ion grow and en(o*rage emplo ee re%en%ion+

#'n')e*ent *ust t'9e t(e ti*e to )et to 9no- te'* *e*bers


I%C! no% a 'ig !*rpri!e %#a% one o) %#e grea%e!% (omplain%! %#a% emplo ee! e3pre!! in e3i% in%er$iew! i! a )eeling %#a% managemen% didnC% "now %#e e3i!%ed+ No'od wan%! %o )eel li"e &*!% ano%#er !po"e in a 'ig w#eel+ Manager! are $er '*! 4 e$er 'od i! '*! , '*% i% i! (r*(ial %#a% manager! and !*per$i!or! %a"e %#e %ime ge% %o "now %#e %eam mem'er! w#o wor" *nder %#em+ /earn and remem'er a %eam mem'erC! name, w#a% !"ill! and %alen%! %#e 'ring %o %#e %a'le, and w#a% %#eir '*!ine!! in%ere!%! are+ T#e %ime !pen% ' managemen% ge%%ing %o "now %eam mem'er! i! well in$e!%ed and (an elimina%e %#e #eada(#e! (a*!ed ' #a$ing %o (on%in*all #ire and re4 %rain new emplo ee!+

Provide t(e too+s 'nd tr'inin) 'n e*,+oyee needs to succeed


No%#ing (an 'e more )r*!%ra%ing %o an emplo ee %#an a la(" o) %raining or %#e proper %ool! %o !*((e!!)*ll (omple%e #i! or #er d*%ie!+ Lo* wo*ldnC% %r %o '*ild a #o*!e wi%#o*% a #ammer, !o w# !#o*ld an o))i(e &o' 'e an di))eren%. Pro$iding a %eam mem'er wi%# %#e %ool! and %raining

Page | 6? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

!#e need! %o 'e !*((e!!)*l !#ow! a (ommi%men% and in$e!%men% in %#a% emplo ee and will en(o*rage %#e %eam mem'er %o !%a wi%# %#e organi2a%ion+

#'9e use of ' te'* *e*ber8s t'+entsC s9i++sC 'nd 'bi+ities


All %eam mem'er! #a$e "nowledge, !"ill!, and a'ili%ie! %#a% arenC% dire(%l rela%ed %o %#eir &o' de!(rip%ion, '*% are !%ill *!e)*l %o an organi2a%ion+ U%ili2ing a %eam mem'erC! %alen%! in area! o%#er %#an %#eir (*rren% po!i%ion will indi(a%e %o an emplo ee %#a% managemen% appre(ia%e! and re(ogni2e! all %#a% an emplo ee #a! %o o))er %o %#e organi2a%ion+ T#i! (an al!o pro$ide wor" $arie% and #elp! %o 'rea" *p %#e e$er da grind o) wor"+

6ever t(re'ten ' te'* *e*ber8s job or inco*e


0#ile %#rea%ening an emplo ee wi%# %ermina%ion or demo%ion mig#% !eem li"e a !*re)ire wa %o ge% %#e re!*l%! needed )rom #im or #er, doing !o will li"el (a*!e %#e emplo ee %o lea$e %#e organi2a%ion+ P*% o*r!el) in %#e emplo eeC! !#oe!, w#a% i! %#e )ir!% %#ing o* wo*ld do i) o*r &o' wa! %#rea%ened. Odd! are o* wo*ld pro'a'l *pda%e o*r re!*me and !%ar% (#e("ing )or open &o' po!%ing! e3pe(%ing %#e wor!%+ I) a %eam mem'erC! per)orman(e i! no% w#a% o* #ad #oped i% wo*ld 'e, wor" wi%# %#a% %eam mem'er on wa ! %o impro$e #i! per)orman(e, !a$ing %ermina%ion onl a! a la!% re!or%+

E!SO6 FO E#P$OYEE TO CO#E TO T"E O %!6IS!TIO6 I


Pa , /o(a%ion, Bene)i%!, Ad$an(emen% Po!!i'ili%ie!, 5o' Se(*ri% , Na%*re O) 0or", Per!onal9Famil Time+

E!SO6S FO E#P$OYEE TO ST!Y 7IT" T"E O %!6IS!TIO6 I


>on)iden(e Fa(%or4%#e 'elie$e in po%en%ial !*((e!!9leader!#ip !%ra%egie! Emo%ional Fa(%or4 AH*geB (on%ri'*%ion, re(ogni%ion, appre(ia%ion Tr*!% Fa(%or4 6 wa !4 promi!e!9(ommi%men%! "ep% A!%rong lin" %o lo al% B Page | 6@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fi% Fa(%or4 Hal*e!9e%#i(! are a good )i% /i!%ening Fa(%or4 Are %#e #eard and $al*ed.

2.5
Ha$e a !*r$e

SO$UTIO6 FO T"E P OH$E#


ITIO6

FI6DI6% T"E C!USE OF !TT

among emplo ee! %o )ind %#e rea!on! )or a%%ri%ion+ I) po!!i'le, #a$e e3i%

in%er$iew! %o "now %#e rea!on! )or re!igna%ion!+ I) a "e emplo ee re!ign!, i% !#o*ld 'e %a"en *p on a priori% 'a!i! and %#e !enior managemen% !#o*ld mee% %#e emplo ee %o di!(*!! #i! rea!on! )or lea$ing and e$al*a%e w#e%#er #i! i!!*e! 'ear meri% and w#e%#er %#e (an 'e re!ol$ed+ S%ep! (an 'e %a"en %o a$oid !imilar rea!on! )rom o((*rring in %#e (a!e o) o%#er!, in !imilar po!i%ion!+

7('t c'n be doneI


T#o*g#, i% i! impo!!i'le %o !(rap pro'lem! %o%all , %#ere are (er%ain wa ! ' w#i(# BPO managemen%! (an %a("le a%%ri%ion+ Sin(e %#e e$er organi!a%ion i! *ni-*e, %#e!e (ompanie! need %o de$elop inno$a%i$e wa ! %o %a("le %#eir pro'lem!+ H*man Re!o*r(e! depar%men% o) (ompanie! m*!% addre!! %#e!e i!!*e!, and along wi%# %#e managemen% need %o e$ol$e !%ra%egie! %o re%ain emplo ee! a% all le$el!+

2.5.1

!t t(e ti*e of ecruit*ent

Sele(% %#e rig#% people %#ro*g# (ompe%en( !(reening+ U!e p! (#ome%ri( %e!%! %o ge% people w#o (an wor" a% nig#% and #andle %#e mono%on + O))er an a%%ra(%i$e, (ompe%i%i$e, 'ene)i%! pa("age+ Ma"e (lear o) per)orman(e en#an(ed in(en%i$e! and o%#er 'ene)i%!+ Qeep %#e!e promi!e!, la%er+ BPO! (an !e% *p o))i(e! in !maller %own!, or re(r*i% )rom %#ere, w#ere oppor%*ni%ie! are )ew+

2.5.2

!t t(e office

An emplo ee,! wor" m*!% 'e (omm*ni(a%ed %o #im (learl and %#oro*g#l + T#e de%ail! o) %#e &o', i%! impor%an(e, %#e wa i% !#o*ld 'e done, ma3im*m %ime %#a% (an 'e allo%%ed %o (omple%e i% e%(+, m*!% 'e made (lear+ I) %#ere are (#ange! %o an o) %#e!e, le% %#e emplo ee "now a% %#e earlie!%+

Page | 6D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

<i$e %#e emplo ee! ne(e!!ar %ool!, %ime and %raining+ T#e emplo ee m*!% #a$e %#e %ool!, %ime and %raining ne(e!!ar %o do %#eir &o' well 4 or %#e will mo$e %o an emplo er w#o pro$ide! %#em+ T#e -*ali% o) %#e !*per$i!ion an emplo ee re(ei$e! i! (ri%i(al %o emplo ee re%en%ion+ Fre-*en% emplo ee (omplain%! ari!e on %#i! i!!*e+ Pro$ide %#e emplo ee! a !%re!! )ree wor" en$ironmen%+ People wan% %o en&o %#eir wor"+ Ma"e wor" and wor" pla(e (#eer)*l and )*n4)illed a! po!!i'le+ Ma"e !*re %#a% emplo ee! "now %#a% %#eir wor" i! impor%an% )or %#e organi!a%ion+ Feeling $al*ed ' %#eir emplo er i! "e %o #ig# emplo ee mo%i$a%ion and morale+ Re(ogni2e %#eir !%reng%#! and #elp %#em %o impro$e %#o!e %#e la("+ Emplo ee! m*!% )eel rewarded, re(ogni2ed and appre(ia%ed+ <i$ing periodi(al rai!e in !alar or po!i%ion #elp! %o re%ain !%a))+ O))er e3(ellen% (areer grow%# pro!pe(%!+ En(o*rage S groom emplo ee! %o %a"e *p #ig#er po!i%ion!9opening!+ I) %#e don,% ge% oppor%*ni% )or grow%# wi%#in %#e organi!a%ion, %#e will loo" el!ew#ere )or i%+ 0or"4li)e 'alan(e ini%ia%i$e! are impor%an%+ Inno$a%i$e and pra(%i(al emplo ee poli(ie! per%aining %o )le3i'le wor"ing #o*r! and !(#eme!, gran%ing (ompa!!iona%e and *rgen( lea$e, pro$iding #eal%#(are )or !el), )amil and dependan%!, e%(+ are impor%an% )or mo!% people+ Implemen% (ompe%en( model!, w#i(# are well in%egra%ed, wi%# HR pro(e!!e! li"e !ele(%ion S re(r*i%men%!, %raining, per)orman(e apprai!al and po%en%ial apprai!al+

2.5.3

6i)(t s(ifts

Ha$e do(%or! %o ad$i!e %#em a'o*% #eal%# pro'lem! and %#e wa ! and mean! %o deal wi%# %#em+ Pro$ide die%ar ad$i(e1 4 Do! and don%!+ Help %#em %o main%ain %#eir #eal%#+ Organi2e programme! w#ere people )rom o%#er pro)e!!ion!, w#o #a$e nig#% !#i)%! %al" %o BPO emplo ee! a'o*% %#eir e3perien(e!+ O%#er organi!a%ion! li"e Arm , Railwa !, Ho!pi%al! and $ario*! go$ernmen% !er$i(e! e%(+, al!o #a$e nig#% !#i)%!+ Organi2e %raining, (o*n!elling and de$elopmen% programme! )or emplo ee!+ Tell %#em %#a% %#eir wor" i! impor%an%+ En(o*rage %#e 'e!% per)ormer! %o !#are %#eir e3perien(e! wi%# o%#er! and g*ide o%#er!+ Page | 6F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

I) needed, pro$ide !pe(ial lig#%! in %#e o))i(e9wor"pla(e %o en!*re %#a% %#eir 'odie! ge% !*))i(ien% $i%amin D+ One di!%in(% di!ad$an%age o) nig#% !#i)%! i! %#e !en!e o) di!orien%a%ion wi%# )riend! and )amil mem'er!+ Addi%ional #olida ! )or wor" on na%ional #olida ! and )e!%i$al!, #olida ! )or )amil )*n(%ion! e%(+, (an go a long wa +

2.A

E*,+oyee eco)nition Incre'ses etention

I% !eem! %#a% now more %#an e$er emplo ee re(ogni%ion i! limi%ed a% 'e!% in man organi2a%ion!+ Un)or%*na%el man manager! donC% *nder!%and %#e impor%an(e o) re(ogni2ing a %eam mem'erC! #ard wor" and a &o' well done+ Man mig#% e$en a!" w# %#e !#o*ld re(ogni2e %#eir emplo ee! w#en %#e are :&*!% doing %#eir &o'+: T#e %r*%# i! %#a% re(ogni2ing emplo ee! )or %#eir #ard wor" i! one o) %#e lea!% e3pen!i$e and ea!ie!% wa ! %o impro$e %#e le$el o) emplo ee re%en%ion in o*r organi2a%ion+ T#e re%*rn on in$e!%men% )or a managerC! %ime and limi%ed e3pen!e! (an 'e in(redi'le+ Re(ogni2ing an emplo eeC! per)orman(e rein)or(e! po!i%i$e 'e#a$ior and en(o*rage! addi%ional po!i%i$e 'e#a$ior+ I) a %eam mem'er )eel! %#a% #e or !#e i! appre(ia%ed %#e will 'e m*(# more li"el %o repea% %#eir 'e#a$ior! in %#e )*%*re and e$en p*% o*% more e))or% %#an 'e)ore+ 0#en a '*!ine!! leader *nder!%and! %#e power o) re(ogni2ing #i! or #er emplo ee! %#e (*l%*re o) an organi2a%ion rea(%! %o %#i! re(ogni%ion and mo$e! in a po!i%i$e dire(%ion #elping %o re%ain more emplo ee!+ Emplo ee re(ogni%ion (an 'e a! !imple or a! e3%ra$agan% a! one de!ire+ T#e )ollowing i! a !#or% li!% o) !imple wa ! %o re(ogni2e %eam mem'er! )or a &o' well done and impro$e re%en%ion in o*r organi2a%ion+ A !imple :%#an" o*: or :ni(e &o': gi$en in reg*lar )re-*en( (an !igni)i(an%l 'oo!% %eam morale+ O)%en %ime! a %eam mem'er will grea%l appre(ia%e %#e %ime o* !pen% %o )ind #im a% #i! de!" and deli$er %#e me!!age in per!on+ Send a %#an" o* (ard or e4(ard+ Al!o p#o%o(op %#e %#an" o* and do(*men% %#e rea!on )or %#e re(ogni%ion in %#e emplo eeC! )ile+ /e% %#e emplo ee "now o* did %#i! 4 i% will le% #er "now %#a% #er #ard wor" will no% 'e )orgo%%en+ Page | 7E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Mo$ie %i("e%!, gi)% (er%i)i(a%e!, or an engra$ed gi)% are e3(ellen% reward! )or an emplo ee w#o #a! e3(elled or p*% in %#e e3%ra e))or% %o ma"e a pro&e(% #appen+ Re(ogni2e %#e %eam mem'erC! (on%ri'*%ion in )ron% o) mem'er! o) managemen%+ T#i! (an red*(e %#e %enden( )or emplo ee! %o )eel %#a% %#eir !*per$i!or! %a"e all %#e (redi% )or %#eir #ard wor"+ Re(ogni2e lo al% and e3(eeding e3pe(%a%ion!+ Men%ion %#e %eam mem'erC! #ire anni$er!ar , large (on%ra(% won, or !*rpa!!ing o) a !ale! goal in %#e (ompan new!le%%er or a% a !%a)) mee%ing+ Qnow #ow %o re(ogni2e o*r !%a))+ No% all !%a)) mem'er! wan% %o 'e !ingled o*% a% a ga%#ering o) #*ndred! o) )ellow %eam mem'er!, w#ile )or o%#er! i% wo*ld ma"e %#eir wee"+ T#e approa(# %o re(ogni2ing %eam mem'er! (an $ar grea%l ' genera%ional (o#or%+ Lo* mig#% !erio*!l em'arra!! a 'a' 'oomer ' #a$ing %#em !%and *p in )ron% a <ro*p o) %#eir peer! and di!(*!! %#eir re(en% !*((e!!, w#ile a <en T4er will reli!# %#i! oppor%*ni% +

2.B

etention Str'te)ies "e+, to Drive evenue %ro-t(

Emplo ee !a%i!)a(%ion i! e!!en%ial %o an e))e(%i$e emplo ee re%en%ion !%ra%eg 4 an good HR manager "now! %#a%+ Howe$er )ew manager! %#in" o) %#e impa(% %#a% emplo ee !a%i!)a(%ion #a! on %#eir (*!%omer! and *l%ima%el (ompan pro)i%!+ One (an a!!*me %#a% #appier, more prod*(%i$e emplo ee! will ma"e more !ale!, %rea% (*!%omer! 'e%%er, and *l%ima%el ma"e more mone )or %#e (ompan , '*% )ew (ompanie! #a$e anal 2ed %#i! a!!*mp%ion %o %#e e3%en% %#a% Sear!, Roe'*(" and >ompan #a!+ Sear! #a! p*% %#i! (ommon a!!*mp%ion %o %#e n*m'er! %e!% and %#e re!*l%! are in%rig*ing %o !a %#e $er lea!%+ 1FF6 wa! %#e wor!% ear on re(ord )or Sear!, lo!ing almo!% 8 'illion dollar! on o$er =6 'illion dollar! in re%ail !ale!+ T#e earl and mid 1FFE! were %r*l %r ing %ime! )or %#e re%ail gian% and %e!%ed %#e will and re!ol$e o) manager! and emplo ee! ali"e+ D*ring %#i! %ime %#e (ompan wa! in near !#am'le!, morale wa! low, re$en*e! were !*))ering, and %#e 'o%%om line wa! Page | 71 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

#emorr#aging red in"+ T#i! wa! in !%ar" (on%ra!% %o nearl a (en%*r o) !%ellar re!*l%! %#a% Sear! #ad (om)or%a'l en&o ed+ For Sear!, !ome%#ing needed %o 'e done, and )a!%P + A E+=I in(rea!e in re$en*e mig#% !o*nd mini!(*le, #owe$er w#en i% i! 'a!ed on re$en*e! o) o$er =E 'illion dollar! i% add! *p -*i("l and !igni)i(an%l + For Sear! %#i! wo*ld e-*a%e %o a 6=E million dollar in(rea!e in re$en*e! a earP T#i! re$en*e in(rea!e doe! no% re-*ire in$e!%men%! in%o ad$er%i!ing, new )a(ili%ie!, or impro$ed opera%ion!, onl an in$e!%men% in%o %#e !a%i!)a(%ion and #appine!! o) emplo ee!+ T#ere are al!o (o!% !a$ing! %#a% (an 'e a%%ri'*%ed %o impro$ed le$el! o) emplo ee !a%i!)a(%ion+ I% !#o*ld (ome a! no !*rpri!e %#a% #app emplo ee! !%a in %#eir &o'! longer %#an *n#app emplo ee!+ B )o(*!ing on in(rea!ing emplo ee !a%i!)a(%ion Sear! wa! a'le %o (on(*rren%l in(rea!e re$en*e! and red*(e %#e (o!%! a!!o(ia%ed wi%# emplo ee %*rno$er+ Sear! wa! al!o a'le %o de%ermine %#a% emplo ee! wi%# grea%er le$el! o) !a%i!)a(%ion and a )a$ora'le a%%i%*de %oward! %#e (ompan were more li"el %o !pea" po!i%i$el a'o*% %#e (ompan and re(ommend !#opping %#ere %o )riend! and )amil mem'er!+ B in(rea!ing emplo ee !a%i!)a(%ion Sear! wa! a'le %o genera%e )ree word o) mo*%# ad$er%i!ing !pread ' i%! emplo ee!, %#*! in a wa red*(ing %#e relian(e on paid ad$er%i!ing %o genera%e re$en*e+ Sear! reali2ed %#e impor%an(e o) i%! emplo ee! and %#eir le$el! o) !a%i!)a(%ion and made i% a (orpora%e goal %o in(rea!e le$el! o) emplo ee !a%i!)a(%ion %#ro*g#o*% %#e (ompan + Sear! )eel! %#a% emplo ee !a%i!)a(%ion le$el! are !o impor%an% %o %#e (ompan C! #eal%# and $i%ali% %#a% i% %rea%! a%%i%*de and !a%i!)a(%ion n*m'er! %#e !ame a! :#ard: )inan(ial n*m'er!+ Sear! i! !o (ommi%%ed %o %#e!e n*m'er! %#a% i% #a! %#em a*di%ed ' an a((o*n%ing %eam %o en!*re $alidi% and relia'ili% &*!% a! i% doe! wi%# all o) i%! in%ernal )inan(ial mea!*re!+ For Sear! i%! %*rnaro*nd did no% %a"e pla(e o$ernig#%+ I% %oo" !e$eral ear! o) #ard wor" and dedi(a%ion )rom manager! and emplo ee! a% all le$el!+ Impro$ing le$el! o) emplo ee !a%i!)a(%ion wa! no% %#e !ole (on%ri'*%ing )a(%or %o Sear!C remar"a'le %*rnaro*nd+ Howe$er i% i! )air %o a!!*me %#a% wi%#o*% %#e )o(*! on %#e emplo ee a! a 'a!e %o 'e%%er )o(*! on %#e (*!%omer %#e %*rnaro*nd a% Sear! wo*ld no% #a$e 'een a! -*i(" or ama2ing a! i% wa!+ A! '*!ine!! leader! we !#o*ld all pa (are)*l a%%en%ion %o %#e approa(# %#a% Sear! %oo" %o impro$ing i%! 'o%%om line+ T#e *rge %o dra!%i(all (*% (o!%! %#ro*g# o*%!o*r(ing, la o))!, Page | 76 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

red*(ing 'ene)i%!, and !%reamlining opera%ion! mig#% well 'e o$erl (omple3 !ol*%ion! %o a rela%i$el !imple pro'lem+ In lie* o) (o!% (*%%ing ini%ia%i$e! %o pre!er$e pro)i% margin!, a (*!%omer )o(*!ed approa(# mig#% 'e a 'e%%er !ol*%ion+ A! we (an learn )rom Sear! )o(*!ing on %#e (*!%omer *l%ima%el 'egin! ' )o(*!ing on %#e emplo ee! w#o !er$e %#e (*!%omer+ <i$e i% a !#o%, o*r emplo ee!, o*r (*!%omer!, and *l%ima%el o*r !#are#older! will %#an" o* )or i%P

CHAPTER - 3 INDUSTRY PROFILE AND

Page | 77 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

COMPANy PROFILE

LG
Page | 78 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

I6DUST Y P OFI$E
3.1 CO6SU#E DU !H$E I6DUST Y
T#e (on!*mer d*ra'le! mar"e% i! di$ided in%o %wo !egmen%! ; (on!*mer ele(%roni(!, al!o "nown a! %#e 'rown good! A%ele$i!ion, digi%al (amera, a*dio4$ideo ! !%em!, (omp*%er!, ele(%roni( a((e!!orie!, e%(B and (on!*mer applian(e! or %#e w#i%e good! Aair (ondi%ioner!, re)rigera%or!, mi(rowa$e o$en!, o%#er #o*!e#old applian(e!, e%(+B+ In i%! ini%ial ear!, %#e !e(%or relied grea%l on media and ad$er%i!ing )or (on!*mer pene%ra%ion+ /i'erali!a%ion o) mar"e%! in la%e 1FFE! !aw %#e en%r o) glo'al pla er! li"e Sam!*ng and /< and a !#i)% in )o(*! %oward! prod*(% inno$a%ion+ A((e!!i'ili% %o #ig#4end prod*(%! wa!, #owe$er, low %ill mid 6EEE!+ /a!% )ew ear! #a! !een #ig# end and a!pira%ional prod*(%! li"e air (ondi%ioner! and Hig# De)ini%ion TH! gain !%rong#old in %#e mar"e%+ T#e ind*!%r !i2e )or (on!*mer d*ra'le! !%and! a% R! 7=E 'illion Aa! on Mar(# 6E16B+ T#e !e(%or ride! and relie! on %#e !%a%e o) %#e (o*n%r ,! e(onom + 0i%# #o*!e#old in(ome! in %op 6E (i%ie! a(ro!! India e3pe(%ed %o grow a% 1E per(en% ann*all o$er %#e ne3% eig#% ear!, and (on(ep%! o) ea! loan!, e-*a%ed mon%#l in!%almen% AEMIB (#arge!, a$aila'ili% o) (redi%, e%(+, 'e(ome

Page | 7= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

(ommonpla(e, %#e Indian (on!*mer i! li"el %o !pend more on 'o%# *%ili% and l*3*r (on!*mer good!+ T#e (on!*mer d*ra'le! !e(%or i! mar"ed ' !%i)) (ompe%i%ion 'e%ween mar"e% pla er! %o la*n(# newer model! and $er!ion! o) prod*(%!, di!(o*n%! and !(#eme!+ T#e "e pla er! in %#e (on!*mer d*ra'le! !e(%or are MN>! li"e /<, Sam!*ng, Bl*e S%ar, Dai"in, Hi%a(#i, Son , e%(+ /< and Sam!*ng a((o*n% )or %#e large!% !#are! o) %#e mar"e%, and i% i! e!%ima%ed %#a% India,! !#are in %#eir glo'al re$en*e! will do*'le %o 16 per (en% in FL1= )rom ? per (en% in FL1E and !imilarl )rom 6+= per (en% %o = per (en% re!pe(%i$el +

Fig*re 7 MMar"e% %rend! )or %#e )*%*re


E!%ima%e! pro$ided ' >orpora%e >a%al !% India A>>IB indi(a%e %#a% %#e (on!*mer d*ra'le! mar"e% i! e3pe(%ed %o do*'le a% 18+D per (en% >A<R %o USD16+= 'illion in FL1= )rom USD?+7 'illion in FL1E+ F*r%#er, demand )rom r*ral and !emi4*r'an area! i! e3pe(%ed %o e3pand a% a >A<R o) 6= per (en% %o USD?+8 'illion in FL1= )rom USD6+1 'illion in FL1E+ All ma&or (ompanie! in %#i! !e(%or #a$e ela'ora%e e3pan!ion plan! )or %#e near )*%*re+ 5apan,! Pana!oni( plan! %o in$e!% USD6ED million ' 6E18 ' !e%%ing *p man*)a(%*ring *ni%! and an ad$an(ed RSD (en%re+ Sam!*ng plan! %o in$e!% USDF8 million %o e3pand (apa(i% ' 6E16+ Mar"e% leader /< #a! o*%lined aro*nd USD6F6 million )or en#an(ing prod*(%ion (apa(i% and !%reng%#ening i%! /< 'rand !#op ne%wor" ' 6E16+

3.1.1

F'ctors t('t -i++ drive )ro-t( in t(is sector


'a!e, e!pe(iall in %#e middle and *pper !e(%ion! o) %#e pop*la%ion+

In(rea!ed di!po!a'le in(ome! and grea%er a((e!!i'ili% %o (redi% i! growing %#e (on!*mer Rela3a%ion o) %ari))! and in(rea!ed li'erali!a%ion amid a )a$o*ra'le FDI en$ironmen% i! leading %o e3pan!ion in India, in(rea!ed in$e!%men%! and grea%er RSD+ Qe pla er! li"e 0#irpool, Hi%a(#i, and Pana!oni( anno*n(ed #*ge in$e!%men% plan! in %#e ear 6E11+ Page | 7? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

3.1.2

Su**'ry

T#e !e(%or i! (#ara(%eri!ed ' !%rong grow%# %rend! in all domain! ; )rom ri!e in a))orda'ili% )a(%or o) Indian pop*la%ion, in(rea!ed pene%ra%ion and e3ponen%ial grow%# o) r*ral mar"e%!, poli( !*ppor% in %erm! o) FDI, %o large !(ale in$e!%men% plan! ' (orpora%e+ T#e (on!*mer d*ra'le! !e(%or i! !e% )or an *pward grap# wi%# n*mero*! oppor%*ni%ie! )or %#o!e in$ol$ed in i%+

CO#P!6Y P OFI$E
3.2 $% E$ECT O6ICS
opera%e! i%! '*!ine!! %ele$i!ion $% E+ectronics i! a So*%# Qorean m*l%ina%ional ele(%roni(! (ompan #ead-*ar%ered in Leo*ido4 dong, Seo*l, and a mem'er o) %#e /< <ro*p chaebol+ T#e (ompan >ondi%ioning, and Energ Sol*%ion!+ I% i! %#e %#ro*g# )i$e di$i!ion!1 Mo'ile >omm*ni(a%ion!, Home En%er%ainmen%, Home Applian(e!, Air worldC! !e(ond4large!% man*)a(%*rer Aa)%er Sam!*ngB,and %#e worldC! )i)%#4large!% mo'ile p#one ma"er ' *ni% !ale! in %#e !e(ond -*ar%er o) 6E16+

3.2.1
T#e (ompan wa! originall

"istory
e!%a'li!#ed in 1F=D a! <oldS%ar, prod*(ing radio!, TH!,

re)rigera%or!, wa!#ing ma(#ine!, and air (ondi%ioner!+ T#e /< <ro*p wa! )ormed %#ro*g# %#e merger o) %wo Qorean (ompanie!, /*(" and <oldS%ar, )rom w#i(# %#e a''re$ia%ion o) LG wa! deri$ed+ T#e (*rren% :/i)eC! <ood: !logan i! a 'a("ron m+ Be)ore %#e (orpora%e name (#ange %o LG, #o*!e#old prod*(%! were !old *nder %#e 'rand name o) Lucky, w#ile ele(%roni( Page | 7@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

prod*(%! were !old *nder %#e 'rand name o) Gold tar + In 5an*ar 6EEF /< wa! a'le %o '* %#e domain name LG!com, )or a pri(e repor%edl %o 'e more %#an U1EE million, pla(ing i% among %#e (ompanie! w#o own %#eir %wo le%%er 'randC! domain name+ In 1FF8 <oldS%ar gained !pon!or!#ip )rom T#e 7DO >ompan %o ma"e %#e )ir!% 7DO In%era(%i$e M*l%ipla er+ In 1FF=, <oldS%ar wa! renamed /< Ele(%roni(!, and a(-*ired %#e US ele(%roni(! (ompan Veni%#+ /< Solar Energ i! a !*'!idiar )ormed in 6EE@ %o allow /< >#em %o deal %o )orm a &oin% !*ppl pol !ili(on %o /< Ele(%roni(! )or prod*(%ion o) !olar (ell!+ In 6EED, /< %oo" i%! )ir!% di$e in%o %#e !olar panel man*)a(%*ring pool, a! i% anno*n(ed apreliminar $en%*re wi%# >onerg + Under %#e deal, !e% %o 'e (omple%ed ' ART>AM and DS/R!+ B 6EE=, /< wa! a Top 1EE glo'al 'rand, and in 6EE?, /< re(orded a 'rand grow%# o) 18I+I%! di!pla man*)a(%*ring a))ilia%e, /< Di!pla , i! now %#e worldC! large!% pla!ma panel man*)a(%*rer+ On De(em'er =, 6E16 %#e an%i%r*!% reg*la%or! o) E*ropean Union )ined /< Ele(%roni(! and !e$eral o%#er ma&or (ompanie! )or )i3ing pri(e! o) TH(a%#ode4ra %*'e! in %wo (ar%el! la!%ing nearl a de(ade+ earC! end, /< wo*ld a(-*ire a @=

per(en% !%a"e in >onerg C! Fran")*r% !olar4panel plan%+ /< #a! prod*(ed (am(order! (alled

3.2.2
7@+F per(en% o) LG Display+

Operation

/< Ele(%roni(! #a! a'o*% @= !*'!idiarie! worldwide+ /< ele(%roni(! own! Zenith and (on%rol!

"o*e Entert'in*ent division


T#e Home En%er%ainmen% di$i!ion o))er! Pla!ma Fla% TH!, />D TH!, PDP Mod*le!, O/ED Panel!, USB Memor , No%e'oo" P>!, De!"%op P>!, MP7 Pla er!+ T#e Home En%er%ainmen% di$i!ion merged wi%# %#e B*!ine!! Sol*%ion! Di$i!ion in O(%o'er 6E1E+ Panel >omp*%er Moni%or!, Home

T#ea%er S !%em!, Bl*4ra Di!( pla er!, DHD Re(order!, S*per M*l%i DHD Rewri%er!, >DWR0,

Page | 7D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

#obi+e Co**unic'tions division


T#e Mo'ile >omm*ni(a%ion! di$i!ion pro$ide! mo'ile (omm*ni(a%ion %erminal!, per!onal (omp*%er! and (omm*ni(a%ion de$i(e!+ /< mo'ile de$i(e! are made )or <SM ne%wor"! a! well a! )or >DMA ne%wor"! worldwide+ /< p#one! are a$aila'le al!o in *nlo("ed $er!ion! %#a% (an 'e *!ed on an <SM ne%wor" worldwide+ /< !old 11?+@ million mo'ile p#one! in 6E1E, (orre!ponding %o a mar"e% !#are o) D+8I+

"o*e !,,+i'nces division


T#e Home Applian(e! di$i!ion man*)a(%*re! re)rigera%or!, wa!#ing ma(#ine!, mi(rowa$e o$en!, $a(**m (leaner!, (ompre!!or!, and mo%or!+ I%! 6EE@ !ale! %o%aled QR0 11+D %rillion, a((o*n%ing )or 6FI o) %#e (ompan C! %o%al re$en*e+ T#e di$i!ionC! pro)i% wa! QR0 @1@+1 'illion+ A'o*% 7=I o) %#e (ompan C! #ome applian(e re$en*e (ome! )rom %#e Nor%# Ameri(an mar"e%+

!ir Conditionin) J Ener)y So+utions division


T#e Air >ondi%ioning S Energ Sol*%ion! di$i!ion ma"e! air (ondi%ioner! and /ED lig#%ing+

Page | 7F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fig*re 8 M /< Hal*e!

3.2.3

CO PO !TE IDE6TITY

/<,S ! m'ol mar" i! %#e mo!% impor%an% elemen% o) %#e (orpora%e iden%i)i(a%ion ! !%em+ I% i! %#e repre!en%a%i$e ! m'ol o) /< %#ro*g#o*% %#e 0orld+ T#e ! m'ol mar" (rea%e! a *ni)ied men%al image o) /< ne(e!!ar in in%erna%ional (omm*ni(a%ion+ I% i! (alled %#e N)a(e o) %#e )*%*reO+ I% in(orpora%e! )i$e (on(ep%! and !en%imen%!1 The World, the Future, the Youth, the Humanity, and the Te hnolo!y". Red >olor1 Rein)or(e! an image o) warm%# and )amiliari% wi%# o%#er glo'al (*!%omer!+ T#e )a(e made )rom %#e N/O and N<O ! m'oli2e! %#a% #*man 'eing! are %#e (en%ral a!pe(%! o) '*!ine!! and e3pre!!e! %#e re!ol*%ion %o do %#eir 'e!% %o main%ain (lo!e %ie! wi%# %#eir (*!%omer! and en!*re %#eir !a%i!)a(%ion+

Page | 8E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fig*re! = M /< >orpora%e Iden%i%

3.2.2

#'n')e*ent Princi,+es

/<C! managemen% prin(iple! !%a%e %#e p*rpo!e o) /<C! '*!ine!! a(%i$i%ie!, and al!o pro$ide a 'a!i! )or i%! opera%ion!+ I% em'odie! %#e "e (on(ep%! o) :>rea%ing $al*e )or (*!%omer!: and :Re!pe(%ing #*man digni% +: /< 'elie$e! %#a% (*!%omer! ma"e *p %#e $er )o*nda%ion o) o*r '*!ine!!+ T#a% i! w# /< pla(e! %#e #ig#e!% priori% on !er$ing (*!%omer!, and en(o*rage! i%!

Page | 81 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

people

%o

(rea%e

%r*e

$al*e

)or

(*!%omer!

%#ro*g#

inno$a%ion+

Fig*re ? M /< Prin(iple!


/< 'elie$e! %#a% %#e !o*r(e o) i%! inno$a%ion lie! in i%! people+ : #espe tin! human di!nity$ implie! %#a% /< $al*e! %#e ingen*i% and a*%onom o) i%! people+ I% !igni)ie! %#a% /< !%ri$e! %o ma3imi2e (apa'ili%ie! o) i%! people, and #elp! %#em reali2e %#eir po%en%ial on %#e &o'+ T#i! prin(iple i! )*r%#er rein)or(ed %#ro*g# /<C! e$er da managemen% pra(%i(e o) rewarding i%! people 'a!ed on (apa'ili%ie! and per)orman(e+

3.2.4

$% E+ectronics Indi' $td 1 =ISIO60


w#o (an ma"e i%! worldwide

/< Ele(%roni(! $i!ion )or %#e 61!% (en%*r i! %o 'e(ome a %r*e glo'al digi%al leader %#ro*g# )a!% grow%# and )a!% inno$a%ion and %o 'e "nown a! a (ompan (*!%omer! #app %#ro*g# i%! inno$a%i$e digi%al prod*(%! and !er$i(e!+ /< Ele(%roni(! #a! !e% i%! mid4%erm and long4%erm goal %o ran" among %#e %op 7 ele(%roni(!, in)orma%ion and %ele(omm*ni(a%ion )irm! in %#e world ' 6E1E+ T#e aim %o *%ili2e %#eir (ore (apa'ili%ie! o) prod*(% leader!#ip, mar"e% leader!#ip and people leader!#ip and en#an(e %#eir (orpora%e (*l%*re o) %eam wor" and )*n wor"pla(e %o a(#ie$e %#eir mi!!ion o) 'e(oming :6 ' 1E:, %#a% i!, do*'le %#eir !ale! $ol*me and pro)i% ' ear 6E1E+

3.2.5

$% in Indi'0

Page | 86 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

/< Ele(%roni(! India /imi%ed, /<EI/, i! a w#oll owned !*'!idiar o) /< Ele(%roni(!, So*%# Qorea+ A pi(%*re !a ! i% all a'o*% %#e wa /< #a! 'een per)orming in India+ To !ee i%! %remendo*!, mind 'oggling grow%# le%,! #a$e a loo" a% %#e (ompan ,! !ale! )ig*re )rom %#e ear 1FF@, w#en i% en%ered in India, %o %#e ear w#en i% (omple%ed 1E ear! in India, 6EE?+

Fig*re @ M /< Finan(ial Per)orman(e

3.2.A

C('++en)es F'ced by $%0

T#e (#allenge! )a(ed ' /< w#en i% en%ered %#e mar"e% in 1FF= were1 /ow 'rand awarene!! a'o*% /< in India+ One o) %#e la!% MN>! %o en%er India+ ASam!*ng, Son S Pana!oni( en%ered in 1FF= S /< in 1FF@+B Hig# impor% d*% + >ompe%i%ion )rom lo(al pla er! and o%#er m*l%ina%ional (ompanie! in %#e (on!*mer ele(%roni(! !egmen%+ Pri(e !en!i%i$ene!! o) Indian (on!*mer!+ Page | 87 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

/<EI #a! o$er(ome %#e!e (#allenge! %o emerge a! one o) %#e prominen% 'rand! in %#e Indian (on!*mer ele(%roni(! and #ome applian(e! mar"e% ' le$eraging %#e !*((e!! )a(%or! 'elow+

3.2.B

Success F'ctors

Page | 88 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fig*re D M /< S*((e!! Fa(%or!

WIPRO

Page | 8= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

I6DUST Y P OFI$E
3.3 IT I6DUST Y
In)orma%ion Te(#nolog AITB ind*!%r in India i! one o) %#e )a!%e!% growing ind*!%rie!+ Indian IT ind*!%r #a! '*il% *p $al*a'le 'rand e-*i% )or i%!el) in %#e glo'al mar"e%!+ IT ind*!%r in India (ompri!e! o) !o)%ware ind*!%r and in)orma%ion %e(#nolog ena'led !er$i(e! AITESB, w#i(# al!o in(l*de! '*!ine!! pro(e!! o*%!o*r(ing ABPOB ind*!%r + India i! (on!idered a! a pioneer in !o)%ware de$elopmen% and a )a$ori%e de!%ina%ion )or IT4ena'led !er$i(e!+

T#e origin o) IT ind*!%r in India (an 'e %ra(ed %o 1F@8, w#en %#e main)rame man*)a(%*rer, B*rro*g#!, a!"ed i%! India !ale! agen%, Ta%a >on!*l%an( Ser$i(e! AT>SB, %o e3por% programmer! )or in!%alling ! !%em !o)%ware )or a U+S+ (lien%+ T#e IT ind*!%r origina%ed *nder *n)a$ora'le (ondi%ion!+ /o(al mar"e%! were a'!en% and go$ernmen% poli( %oward pri$a%e en%erpri!e wa! #o!%ile+ T#e ind*!%r wa! 'eg*n ' Bom'a 4'a!ed (onglomera%e! w#i(# en%ered %#e '*!ine!! ' !*ppl ing programmer! %o glo'al IT )irm! lo(a%ed o$er!ea!+

Fig*re F M <row%# in IT Se(%or


D*ring %#a% %ime Indian e(onom wa! !%a%e4(on%rolled and %#e !%a%e remained #o!%ile %o %#e !o)%ware ind*!%r %#ro*g# %#e 1F@E!+ Impor% %ari))! were #ig# A17=I on #ardware and 1EEI on Page | 8? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

!o)%wareB and !o)%ware wa! no% (on!idered an :ind*!%r :, !o %#a% e3por%er! were ineligi'le )or 'an" )inan(e+ <o$ernmen% poli( %oward! IT !e(%or (#anged w#en Ra&i$ <and#i 'e(ame Prime Mini!%er in 1FD8+ Hi! New >omp*%er Poli( AN>P41FD8B (on!i!%ed o) a pa("age o) red*(ed impor% %ari))! on #ardware and !o)%ware Ared*(ed %o ?EIB, re(ogni%ion o) !o)%ware e3por%! a! a :deli(en!ed ind*!%r :, i+e+, #en(e)or%# eligi'le )or 'an" )inan(e and )reed )rom li(en!e4permi% ra&, permi!!ion )or )oreign )irm! %o !e% *p w#oll 4owned, e3por%4dedi(a%ed *ni%! and a pro&e(% %o !e% *p a (#ain o) !o)%ware par"! %#a% wo*ld o))er in)ra!%r*(%*re a% 'elow4mar"e% (o!%!+ T#e!e poli(ie! laid %#e )o*nda%ion )or %#e de$elopmen% o) a world4(la!! IT ind*!%r in India+ In)orma%ion %e(#nolog AITB ind*!%r in India #a! pla ed a "e role in p*%%ing India on %#e glo'al map+ IT ind*!%r in India #a! 'een one o) %#e mo!% !igni)i(an% grow%# (on%ri'*%or! )or %#e Indian e(onom + T#e ind*!%r #a! pla ed a !igni)i(an% role in %ran!)orming India,! image )rom a !low mo$ing '*rea*(ra%i( e(onom %o a land o) inno$a%i$e en%reprene*r! and a glo'al pla er in pro$iding world (la!! %e(#nolog !ol*%ion! and '*!ine!! !er$i(e!+ T#e ind*!%r #a! #elped India %ran!)orm )rom a r*ral and agri(*l%*re4'a!ed e(onom %o a "nowledge 'a!ed e(onom +

3.3.1

%overn*ent Initi'tives0

A)%er %#e e(onomi( re)orm! o) 1FF14F6, ma&or )i!(al in(en%i$e! pro$ided ' %#e <o$ernmen% o) India and %#e S%a%e <o$ernmen%!, li"e, li'erali2a%ion o) e3%ernal %rade, elimina%ion o) d*%ie! on impor%! o) in)orma%ion %e(#nolog prod*(%!, rela3a%ion o) (on%rol! on 'o%# inward and o*%ward in$e!%men%! and )oreign e3(#ange, !e%%ing *p o) E3por% Orien%ed Uni%! AEOUB, So)%ware Te(#nolog Par"! ASTPB, and Spe(ial E(onomi( Vone! ASEVB, #a! ena'led India %o )lo*ri!# and a(-*ire a dominan% po!i%ion in world,! IT !(enario+ In order %o alle$ia%e and %o promo%e Indian IT ind*!%r , %#e <o$ernmen% o) India #ad !e% *p a Na%ional Ta!" For(e on IT and So)%ware De$elopmen% %o e3amine %#e )ea!i'ili% o) !%reng%#ening %#e ind*!%r + Hen%*re (api%al #a! 'een %#e main !o*r(e o) )inan(e )or !o)%ware ind*!%r aro*nd %#e world+ In line wi%# %#e in%erna%ional pra(%i(e!, norm! )or %#e opera%ion! o) $en%*re (api%al )*nd! #a$e al!o 'een li'erali2ed %o 'oo!% %#e ind*!%r + T#e <o$ernmen% o) India i! al!o a(%i$el pro$iding )i!(al in(en%i$e! and li'erali2ing norm! )or FDI and rai!ing (api%al a'road+

3.3.2

Fin'nci'+ !ssist'nce

0#ile %#e *nderl ing %#eme o) 6E1E wa! %#a% o) !%ead re(o$er )rom re(e!!ion, %#an"! %o %#e a((elera%ed re(o$er in emerging mar"e%!, worldwide !pending in IT prod*(%! and !er$i(e! in(rea!ed !igni)i(an%l in 6E11+ In 6E11, India,! grow%# #a! re)le(%ed new demand )or IT good! Page | 8@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

and !er$i(e!, wi%# a ma&or !*rge in %#e *!e o) pri$a%e and p*'li( (lo*d and mo'ile (omp*%ing on a $arie% o) de$i(e! and %#ro*g# a range o) new !o)%ware appli(a%ion!+Hig# in)low o) FDI in %#e IT !e(%or i! e3pe(%ed %o (on%in*e in (oming ear!+ T#e in)low o) #*ge $ol*me! o) FDI in %#e IT ind*!%r o) India #a! no% onl 'oo!%ed %#e ind*!%r '*% %#e en%ire Indian e(onom in re(en% ear!+ Foreign dire(% in$e!%men% AFDIB in)low ro!e ' more %#an 1EE per (en% %o USU 8+?? 'illion in Ma 6E11, *p )rom USU 6+61 'illion a ear ago, a((ording %o %#e la%e!% da%a relea!ed ' %#e Depar%men% o) Ind*!%rial Poli( and Promo%ion ADIPPB+ T#i! i! %#e #ig#e!% mon%#l in)low in 7F mon%#!+Foreign %e(#nolog ind*(%ion i! al!o en(o*raged 'o%# %#ro*g# FDI and %#ro*g# )oreign %e(#nolog (olla'ora%ion agreemen%!+ India wel(ome! in$e!%or! in In)orma%ion Te(#nolog !e(%or+ <rea%er %ran!paren( in poli(ie! and pro(ed*re! #a! made India an in$e!%or )riendl pla%)orm+ A )oreign (ompan (an #old e-*i% in Indian (ompan ,! *p%o 1EEI+

3.3.3

ese'rc( J Deve+o,*ent
and promo%ing S%ar% *p! )o(*!!ed on

To !*ppor% Re!ear(# S de$elopmen% in %#e (o*n%r

%e(#nolog and inno$a%ion, a weig#%ed ded*(%ion o) 1=EI o) e3pendi%*re in(*rred on in#o*!e RSD i! in%rod*(ed *nder %#e In(ome Ta3 A(+ In addi%ion %o %#e e3i!%ing !(#eme )or )*nding $ario*! RSD pro&e(%! #a$e 'een )*nded %#ro*g# new !(#eme li"e S*ppor% In%erna%ional Pa%en% Pro%e(%ion in Ele(%roni(! S IT ASIP4EITB, M*l%iplier <ran%! S(#eme AM<SB+ T#e go$ernmen% #a! ini%ia%ed %#e !e%%ing *p o) an Open Te(#nolog >en%er %#ro*g# NI> aimed a% gi$ing e))e(%i$e dire(%ion %o %#e (o*n%r on Open Te(#nolog in %#e area! o) Open So*r(e Sol*%ion!, AOSSB, Open S%andard, Open Pro(e!!e!, Open Hardware !pe(i)i(a%ion! and Open >o*r!e4ware+ T#i! ini%ia%i$e will a(% a! a Na%ional Qnowledge )a(ili% pro$iding ! nerg %o %#e o$erall (omponen%! o) Open Te(#nolog glo'all +

3.3.2
on impor%! o) in)orma%ion %e(#nolog

e)u+'tions
prod*(%!, rela3a%ion o) (on%rol! on 'o%# inward and )or IT and ITES #a$e 'een ma&or

A)%er %#e e(onomi( re)orm! o) 1FF14F6, li'erali2a%ion o) e3%ernal %rade, elimina%ion o) d*%ie! o*%ward in$e!%men%! and )oreign e3(#ange and %#e )i!(al mea!*re! %a"en ' %#e <o$ernmen% o) India and %#e indi$id*al S%a%e <o$ernmen%! !pe(i)i(all (on%ri'*%or )a(%or! )or %#e !e(%or %o )lo*ri!# in India and )or %#e (o*n%r %o 'e a'le %o a(-*ire a dominan% po!i%ion in o))!#ore !er$i(e! in %#e world+ T#e ma&or )i!(al in(en%i$e! pro$ided ' %#e <o$ernmen% o) India #a$e 'een )or %#e E3por% Orien%ed Uni%! AEOUB, So)%ware Te(#nolog Par"! ASTPB, and Spe(ial E(onomi( Vone! ASEVB+ Page | 8D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

3.3.4

C('++en)es

Toda , (en%er! 'a!ed in India a((o*n% )or %#e large!% n*m'er o) -*ali% (er%i)i(a%ion! a(#ie$ed ' an !ingle (o*n%r +India aim! %o %ran!)orm India in%o a %r*l de$eloped and empowered !o(ie% ' 6E6E+ Howe$er, %o a(#ie$e %#i! grow%#, %#e !e(%or #a! %o (on%in*e %o re4in$en% i%!el) and !%ri$e )or %#a% e3%ra mile, %#ro*g# new '*!ine!! model!, glo'al deli$er , par%ner!#ip! and %ran!)orma%ion+ A (olla'ora%i$e e))or% )rom all !%a"e#older! will 'e needed %o en!*re )*%*re grow%# o) India,! IT4ITeS !e(%or+ 0e will need %o ri!e *p %o %#e new (#allenge! and p*% in dedi(a%ed e))or%! %oward pro$iding more and more o) end4%o4end !ol*%ion! %o %#e (lien%! %o "eep %#e momen%*m going+India i! now one o) %#e 'igge!% IT (api%al! in %#e modern world and #a! pre!en(e o) all %#e ma&or pla er! in %#e world IT !e(%or+ H>/, 0ipro, In)o! ! and T>S are )ew o) %#e #o*!e#old name! o) IT (ompanie! in India+

3.3.5

Future ,ros,ects

<lo'ali2a%ion #a! #ad a pro)o*nd impa(% in !#aping %#e Indian In)orma%ion Te(#nolog ind*!%r + O$er %#e ear!, $er%i(al! li"e man*)a(%*ring, %ele(om, in!*ran(e, 'an"ing, )inan(e and la%el %#e re%ail, #a$e 'een %#e grow%# dri$er! )or %#i! !e(%or+ B*% i% i! $er )a!% ge%%ing (lear %#a% %#e )*%*re grow%# o) IT and IT ena'led !er$i(e! will 'e )*elled ' %#e $er%i(al! o) (lima%e (#ange, mo'ile appli(a%ion!, #eal%#(are, energ e))i(ien( and !*!%aina'le energ + T#e near )*%*re o) Indian IT ind*!%r !ee! a !igni)i(an% ri!e in !#are o) %e(#nolog !pend a! more and more !er$i(e pro$ider! 'o%# Indian and glo'al %arge% new !egmen%! and pro$ide low (o!%, )le3i'le !ol*%ion! %o (*!%omer!+ B 6E1=, IT !e(%or i! e3pe(%ed %o genera%e re$en*e! o) USD 17E 'illion ANASS>OMB w#i(# will (rea%e a %ran!)orma%ional impa(% on %#e o$erall e(onom + IT !pending i! e3pe(%ed %o !igni)i(an%l in(rea!e in $er%i(al! li"e a*%omo%i$e and #eal%#(are w#ile %#e go$ernmen%, wi%# i%! )o(*! on e4go$ernan(e, will (on%in*e %o 'e a ma&or !pender+Howe$er, %o a(#ie$e %#i! grow%#, %#e !e(%or #a! %o (on%in*e %o re4in$en% i%!el) and !%ri$e )or %#a% e3%ra mile, %#ro*g# new '*!ine!! model!, glo'al deli$er , par%ner!#ip! and %ran!)orma%ion+ A (olla'ora%i$e e))or% )rom all !%a"e#older! will 'e needed %o en!*re )*%*re grow%# o) India,! IT4ITeS !e(%or+ 0e will need %o ri!e *p %o %#e new (#allenge! and p*% in dedi(a%ed e))or%! %oward pro$iding more and more o) end4%o4end !ol*%ion! %o %#e (lien%! %o "eep %#e momen%*m going+

Page | 8F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

CO#P!6Y P OFI$E 3.2 7IP O


0ipro BPO i! *ni-*el po!i%ioned %o !er$i(e (*!%omer re-*iremen%! ' le$eraging i%! %ene%! o) -*ali% and inno$a%ion, %#e 'e!% people %alen%, !el) !*!%aining pro(e!! )ramewor" and domain "nowledge+ 0e o))er (*!%omi2ed !er$i(e o))ering!G %ran!la%ing in%o %#e mo!% )le3i'le and (o!% e))e(%i$e !er$i(e! o) %#e #ig#e!% -*ali% )or o*r (*!%omer!+

In 6EE6, 0ipro %oo" a -*an%*m &*mp in %#e BPO !er$i(e! ' a(-*iring %#e %#en Spe(%ra mind+ 0ipro BPO Sol*%ion! (omplemen%! %#e !er$i(e! o))ered ' 0ipro Te(#nologie!, ma"ing i% one o) %#e large!% BPO !er$i(e pla er!+

Fig*re 1E M 0ipro Head-*ar%er


0i%# o$er 1F,EEE people, opera%ing o*% o) F di))eren% lo(a%ion! AIndia and Ea!%ern E*ropeB, 0ipro BPO #a! 'een a (ri%i(al par%ner %o all i%! (*!%omer! in a(#ie$ing %#eir '*!ine!! goal!+ 0ipro BPO !er$i(e! (*!%omer! in $ario*! ind*!%rie! in(l*ding Ban"ing S >api%al Mar"e%!, In!*ran(e, Tra$el S Ho!pi%ali% , Hi4Te(# Man*)a(%*ring, Tele(om S Heal%#(are !e(%or!+ 0ipro Page | =E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

BPO al!o #a! deep e3per%i!e in deli$ering pro(e!! !pe(i)i( !ol*%ion! in area! li"e Finan(e S A((o*n%ing, Pro(*remen%, HR Ser$i(e!, /o al% Ser$i(e! and Qnowledge Ser$i(e!+ 0ipro BPO Sol*%ion! /%d i! India,! leading %#ird par% o))!#ore BPO AB*!ine!! Pro(e!!

O*%!o*r(ingB pro$ider wi%# a )*ll !pe(%r*m o) BPO !er$i(e!+ T#e >ompan Head-*ar%er! are lo(a%ed in New Del#i, wi%# !i3 !%a%e4o)4%#e4ar% )a(ili%ie! in M*m'ai, P*ne, >#ennai S Qol"a%a and glo'al o))i(e! in US, UQ and >anada+ 0ipro BPO pro$ide! a 'road range o) !er$i(e! )rom (*!%omer rela%ion!#ip managemen%, 'a(" o))i(e %ran!a(%ion pro(e!!ing %o ind*!%r !pe(i)i( !ol*%ion!+ T#e "e elemen% o) !er$i(e! deli$er i! an in%egra%ed approa(# %oward! pro$iding in(rea!ing $al*e o$er %#e en%ire (o*r!e o) o*r (lien% rela%ion!#ip!+ T#i! in$ol$e! a p#a!ed approa(# %oward! pro(e!! !%andardi2a%ion, pro(e!! op%imi2a%ion and pro(e!! re4engineering+

3.%.&
E'r+y for*'tive ye'rs

History

T#e (ompan wa! in(orpora%ed on 6F De(em'er 1F8= in M*m'ai ' Mo#amed Ha!#am Prem&i a! 0e!%ern India Prod*(%! /imi%ed, la%er a''re$ia%ed %o 0ipro+ I% wa! ini%iall !e% *p a! a man*)a(%*rer o) $ege%a'le g#ee, $ana!pa%i and re)ined oil! in Amalner, Di!%15algaon, Ma#ara!#%ra *nder %#e %rade name! o) Qi!an, S*n)lower and >amel+ T#e (ompan logo !%ill (on%ain! a !*n)lower %o re)le(% prod*(%! o) %#e original '*!ine!!+ In 1F??, a)%er Mo#amed Prem&i,! dea%#, #i! !on A2im Prem&i re%*rned #ome )rom S%an)ord Uni$er!i% and %oo" o$er 0ipro a! i%! (#airman a% %#e age o) 61+ 0ipro 'e(ame a more pro)i%a'le, di$er!i)ied (orpora%ion wi%# new prod*(%! !*(# a! %#e 0ipro S*per<eni*! per!onal (omp*%er! AP>!B+ In 1FFF, %#e prod*(% wa! %#e one Indian P> range %o o'%ain US4'a!ed Na%ional So)%ware Te!%ing /a'ora%or ANST/B (er%i)i(a%ion )or %#e Lear 6EEE AL6QB (omplian(e in #ardware )or all model!+ A2im Prem&i i! a ma&or !#are#older in 0ipro+ D*ring %#e 1F@E! and 1FDE!, %#e (ompan !#i)%ed i%! )o(*! %o new '*!ine!! oppor%*ni%ie! in %#e IT and (omp*%ing ind*!%r , w#i(# wa! a% a na!(en% !%age in India a% %#e %ime+ In 5*ne @, 1F@@, %#e name o) %#e >ompan wa! (#anged )rom 0e!%ern India Hege%a'le Prod*(%! /imi%ed+, %o 0ipro Prod*(%! /imi%ed+ T#e ear 1FDE mar"ed %#e arri$al o) 0ipro in %#e IT domain+ In 1FD6, %#e name wa! (#anged )rom 0ipro Prod*(%! /imi%ed %o 0ipro /imi%ed +Meanw#ile 0ipro (on%in*ed %o e3pand in %#e Page | =1 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

(on!*mer prod*(%! domain wi%# %#e la*n(# o) XRala"C a %*l!i 'a!ed )amil !oap and X0ipro 5a!mineC, a %oile% !oap+

1DBB11DD2
In 1FDD, 0ipro di$er!i)ied i%! prod*(% line in%o #ea$ d*% ind*!%rial ( linder! and mo'ile # dra*li( ( linder!+ A &oin% $en%*re (ompan wi%# <eneral Ele(%ri( o) U+S+A+, in %#e name o) 0ipro <E Medi(al S !%em! P$%+ /%d+ wa! !e% *p in 1FDF )or %#e man*)a(%*re, !ale! and !er$i(e o) diagno!%i( and imaging prod*(%!+ /a%er, in 1FF1, %ipping ! !%em! and Ea%on # dra*li( prod*(%! were la*n(#ed+ T#e 0ipro Fl*id Power di$i!ion, in 1FF6, de$eloped e3per%i!e %o o))er !%andard # dra*li( ( linder! )or (on!%r*(%ion e-*ipmen% and %r*(" %ipping ! !%em!+ T#e mar"e% !aw %#e la*n(# o) %#e :San%oor: %al(*m powder and :0ipro Ba' So)%: range o) 'a' %oile%rie! in 1FFE+

1DD212EEE
In 1FF8, 0ipro !e% *p an o$er!ea! de!ign (en%er, Od !!e 61, )or *nder%a"ing pro&e(%! and prod*(% de$elopmen%! in ad$an(ed %e(#nologie! )or o$er!ea! (lien%!+ 0ipro In)o%e(# and 0ipro S !%em! were amalgama%ed wi%# 0ipro in April %#a% ear+ Fi$e o) 0iproC! man*)a(%*ring and de$elopmen% )a(ili%ie! !e(*red %#e ISO FEE1 (er%i)i(a%ion d*ring 1FF84F=+ In 1FFF, 0ipro a(-*ired 0ipro A(er+ 0ipro S*per <eni*! per!onal (omp*%er! AP>!B 'e(ame %#e onl Indian P> range %o o'%ain %#e US4'a!ed Na%ional So)%ware Te!%ing /a'ora%or C! ANST/B >er%i)i(a%ion )or Lear 6EEE AL6QB (omplian(e+ 0ipro /imi%ed &oined #and! wi%# a glo'al %ele(om ma&or QPN ARo al D*%(# %ele(omB %o )orm a &oin% $en%*re (ompan N0ipro Ne% /imi%edO %o pro$ide in%erne% !er$i(e! in India+ T#e ear 6EEE wa! %#e ear 0ipro la*n(#ed !ol*%ion! )or (on$ergen% ne%wor"! %arge%ed a% In%erne% and %ele(om !ol*%ion pro$ider! in %#e name! o) 0ipro OSS Smar% and 0ipro 0AP Smar%+

2EE1 on-'rds
In Fe'r*ar 6EE6, 0ipro 'e(ame %#e )ir!% !o)%ware %e(#nolog and !er$i(e! (ompan in India %o 'e (er%i)ied )or ISO 18EE1 (er%i)i(a%ion+ 0ipro al!o a(#ie$ed ISO FEEE (er%i)i(a%ion %o 'e(ome %#e )ir!% !o)%ware (ompan %o ge% SEI >MM /e$el = in 6EE6+ 0ipro >on!*mer >are and /ig#%ing <ro*p en%ered %#e mar"e% o) >ompa(% Fl*ore!(en% /amp!, wi%# %#e la*n(# o) a range o) >F/, *nder %#e 'rand name o) 0ipro Smar%li%e+ A! %#e (ompan grew, a !%*d re$ealed %#a% 0ipro wa! %#e )a!%e!% weal%# (rea%or )or = ear! A1FF@;6EE6B+ T#e !ame ear wi%ne!!ed %#e la*n(# o) 0ipro,! own lap%op! wi%# In%elC! >en%rino mo'ile pro(e!!or+ 0ipro al!o en%ered in%o Page | =6 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

an e3(l*!i$e agreemen% wi%# %#e owner! o) >#andri"a )or mar"e%ing o) %#eir !oap in !ele(% !%a%e! in India+ I% !e% *p a w#oll owned !*'!idiar (ompan $i2+ 0ipro >on!*mer >are /imi%ed %o man*)a(%*re (on!*mer (are and lig#%ing prod*(%!+ In 6EE8, 0ipro &oined %#e 'illion dollar (l*'+ I% al!o par%nered wi%# In%el )or i4!#i"!#a+ T#e ear 6EE? !aw 0ipro a(-*ire (Mango In(+, a US 'a!ed Te(#nolog In)ra!%r*(%*re >on!*l%ing )irm Ena'ler, and a E*rope 'a!ed re%ail !ol*%ion! pro$ider+ In 6EE@, 0ipro in"ed a large deal wi%# /o("#eed Mar%in+ I% al!o en%ered in%o a de)ini%i$e agreemen% %o a(-*ire O"i Te(#no >en%re Singapore P%e /%d AOT>SB and !igned an RSD par%ner!#ip (on%ra(% wi%# No"ia Siemen! Ne%wor"! in <erman + T#e ear 6EED !aw 0ipro,! )ora in%o %#e (lean energ '*!ine!! wi%# 0ipro E(o Energ + In April 6E11, 0ipro !igned an agreemen% wi%# S(ien(e Appli(a%ion! In%erna%ional >orpora%ion ASAI>B )or %#e a(-*i!i%ion o) %#eir glo'al oil and ga! in)orma%ion %e(#nolog '*!ine!! !er$i(e! '*!ine!! *ni%+T#e )or U7= million+ pra(%i(e o) %#e (ommer(ial ear 6E16 !aw 0ipro ma"e i%! 1@%# a(-*i!i%ion in IT

'*!ine!! w#en i% a(-*ired A*!%ralian anal %i(! prod*(% )irm Proma3 Appli(a%ion! <ro*p APA<B

Fig*re 11 M 0ipro Finan(ial Per)orman(e

3.2.2 Different Ty,es of Services Hein) Offered Hy 7IP O Kb,oL


1+ Custo*er Su,,ort Services

Page | =7 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

O*r (*!%omer !er$i(e o))ering! (rea%e a $ir%*al (*!%omer !er$i(e (en%er %o manage (*!%omer (on(ern! and -*erie! %#ro*g# m*l%iple (#annel! in(l*ding $oi(e, e4mail and (#a% on a 689@ and 7?= da ! 'a!i!+ Ser$i(e E3ample1 >*!%omer! (alling %o (#e(" on %#eir order !%a%*!, (*!%omer! (alling %o (#e(" )or in)orma%ion on prod*(%! and !er$i(e!, (*!%omer! (alling %o $eri) %#eir a((o*n% !%a%*!, (*!%omer! (alling %o (#e(" %#eir re!er$a%ion !%a%*! e%(+

2. Tec(nic'+ Su,,ort Services


O*r %e(#ni(al !*ppor% o))ering! in(l*de ro*nd4%#e4(lo(" %e(#ni(al !*ppor% and pro'lem re!ol*%ion )or OEM (*!%omer! and (omp*%er #ardware, !o)%ware, perip#eral! and In%erne% in)ra!%r*(%*re man*)a(%*ring (ompanie!+ T#e!e in(l*de in!%alla%ion and prod*(% !*ppor%, *p S r*nning !*ppor%, %ro*'le!#oo%ing and U!age !*ppor%+ Ser$i(e E3ample1 >*!%omer! (alling %o re!ol$e a pro'lem wi%# %#eir #ome P>, (*!%omer! (alling %o *nder!%and #ow %o dial *p %o %#eir ISP, (*!%omer! (alling wi%# a pro'lem wi%# %#eir !o)%ware or #ardware+

7+ Te+e*'r9etin) Services
O*r %ele!ale! and %elemar"e%ing o*%!o*r(ing !er$i(e! %arge% in%era(%ion wi%# po%en%ial (*!%omer! )or Cpro!pe(%ingC li"e ei%#er )or genera%ing in%ere!% in prod*(%! and !er$i(e!, or %o *p4!ell 9 prom%e and (ro!! !ell %o an e3i!%ing (*!%omer 'a!e or %o (omple%e %#e !ale! pro(e!! online+ Ser$i(e E3ample1 O*%'o*nd (alling %o !ell wirele!! !er$i(e! )or a %ele(om pro$ider, o*%'o*nd (alling %o re%ail #o*!e#old! %o !ell lei!*re #olida !, o*%'o*nd (alling %o e3i!%ing (*!%omer! %o !ell a new ra%e (ard )or a mo'ile !er$i(e pro$ider or o*%'o*nd (alling %o !ell (redi% or de'i% (ard! e%(+

8+ E*,+oyee IT "e+,1des9 Services


O*r emplo ee IT #elp4de!" !er$i(e! pro$ide %e(#ni(al pro'lem re!ol*%ion and !*ppor% )or (orpora%e emplo ee!+ Page | =8 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Ser$i(e E3ample1 o) %#i! !er$i(e in(l*de le$el 1 and 6 m*l%i4(#annel !*ppor% a(ro!! a wide range o) !#rin" wrapped and /OB appli(a%ion!, ! !%em pro'lem re!ol*%ion! rela%ed %o de!"%op, no%e'oo"!, OS, (onne(%i$i% e%(+, o))i(e prod*(%i$i% %ool! !*ppor% in(l*ding 'row!er! and mail, new !er$i(e re-*e!%!, IT opera%ional i!!*e!, prod*(% *!age -*erie!, ro*%ing !pe(i)i( re-*e!%! %o de!igna%ed (on%a(%! and remo%e diagno!%i(! e%(+

=+ Insur'nce Processin)
O*r in!*ran(e pro(e!!ing !er$i(e! pro$ide !pe(iali2ed !ol*%ion! %o %#e in!*ran(e !e(%or and !*ppor% (ri%i(al '*!ine!! pro(e!!e! appli(a'le %o %#e ind*!%r rig#% )rom new '*!ine!! a(-*i!i%ion %o poli( main%enan(e %o (laim! pro(e!!ing+ Ser$i(e E3ample1 6e- Husiness G Pro*otion0 In'o*nd9o*%'o*nd !ale!, Ini%ial Se%*p, >a!e Managemen%, Underwri%ing, Ri!" a!!e!!men%, Poli( i!!*an(e e%(+ Po+icy #'inten'nce G #'n')e*ent0 Re(ord >#ange! li"e Name, Bene)i(iar , Nominee, Addre!!G >olla%eral $eri)i(a%ion, S*rrender A*di%! A((o*n%! Re(ei$a'le, A((o*n%ing, >laim O$erpa men%, >*!%omer (are !er$i(e $ia $oi(e9email e%(+

5. D't' Entry Services G D't' Processin) Services


Ser$i(e E3ample1
o o o o

Da%a en%r )rom Paper9Boo"! wi%# #ig#e!% a((*ra( and )a!% %*rn aro*nd %ime ATATB Da%a en%r )rom Image )ile in an )orma% B*!ine!! Tran!a(%ion Da%a en%r li"e !ale! 9 p*r(#a!e 9 pa roll+ Da%a en%r o) E4Boo"! 9 Ele(%roni( Boo"! Page | == BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

o o o o o o o o o o o o

Da%a En%r 1 Lellow Page! 9 0#i%e Page! Qe ing Da%a En%r and (ompila%ion )rom 0e' !i%e Da%a >ap%*re 9 >olle(%ion B*!ine!! >ard Da%a En%r in%o an Forma% Da%a En%r )rom #ard(op 9Prin%ed Ma%erial in%o %e3% or re-*ired )orma% Da%a En%r in%o So)%ware Program and appli(a%ion Re(eip% and Bill Da%a En%r >a%alog Da%a En%r + Da%a En%r )or Mailing /i!%9Mailing /a'el+ Man*!(rip%ing % ping in %o word Taped Tran!(rip%ion in %o word+ >op , Pa!%e, Edi%ing, Sor%ing, Inde3ing Da%a in%o re-*ired )orma% e%(+

A. D't' Conversion Services


Ser$i(e E3ample1
o o o

>on$er!ion o) da%a a(ro!! $ario*! da%a'a!e! on di))eren% pla%)orm! Da%a >on$er!ion $ia Inp*% 9 O*%p*% )or $ario*! media+ Da%a >on$er!ion )or da%a'a!e!, word pro(e!!or!, !pread!#ee%!, and man o%#er !%andard and (*!%om4made !o)%ware pa("age! a! per re-*iremen%+ >on$er!ion )rom Page ma"er %o PDF )orma%+ >on$er!ion )rom M!40ord %o HTM/ )orma% >on$er!ion )rom Te3% %o 0ord Per)e(%+ >on$er!ion )rom Te3% %o 0ord %o HTM/ and A(ro'a% >on$er% Raw Da%a in%o re-*ired MS O))i(e )orma%!+ Te3% %o PDF and PDF %o 0ord 9 Te3% 9 Do( Da%a >ompila%ion in PDF )rom Se$eral So*r(e!+ E4Boo" >on$er!ion e%(+ Page | =? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

o o o o o o o o

D+ Sc'nnin)C OC -it( Editin) J IndeFin) Services


Ser$i(e E3ample1
o o o o o o

Hig# !peed Image4S(anning and Da%a (ap%*re !er$i(e! Hig# !peed large $ol*me !(anning O>R Da%a From S(anned page 9 image S(an S O>R paper Boo" in %o >D+ ADOBE PDF >on$er!ion Ser$i(e!+ >on$er!ion )rom paper or e4)ile %o $ario*! )orma%!

F+ Hoo9 /ee,in) 'nd !ccountin) Services


Ser$i(e E3ample1
o o o o o

<eneral /edger A((o*n%! Re(ei$a'le! and A((o*n%! Pa a'le Finan(ial S%a%emen%! Ban" Re(on(ilia%ion A!!e%! 9 E-*ipmen% /edger! e%(+

1E. For* Processin) Services0 Ser$i(e E3ample1


o o o

In!*ran(e (laim )orm Medi(al Form 9 Medi(al 'illing Online Form Pro(e!!ing Page | =@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Pa rol Pro(e!!ing e%(+

11.Internet G On+ine G 7eb ese'rc(


Ser$i(e E3ample1
o o

In%erne% Sear(#, Prod*(% Re!ear(#, Mar"e% Re!ear(#, S*r$e , Anal !i!+ 0e' and Mailing li!% re!ear(# e%(+

Fig*re 16 M Re$en*e Brea" *p Se(%or o) IT ind*!%r

3.2.3
%#e 'e!% %alen%+

C('++en)es for ' " Profession'+ in HPO

1+ Brand e-*i% 1 People !%ill (on!ider BPO %o 'e :low 'row:, %#*! ma"ing i% di))i(*l% %o a%%ra(% 6+ S%andard pre4&o' %raining1 Again, d*e %o %#e wide $arie% o) %#e &o'!, la(" o) general (lari% on !"ill !e%!, e%(, %#ere i! no !%andard (*rri(*l*m, w#i(# (o*ld 'e de!igned and )ollowed+ 7+ Ben(#mar"!1 T#ere are #ardl an 'en(#mar"! )or (ompen!a%ion and 'ene)i%!, per)orman(e or HR poli(ie!+ E$er one i! (#ar%ing %#eir own (o*r!e+ Page | =D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

8+ >*!%omer4(ompanie! %end %o demand 'e%%er re!*l%! )rom o*%!o*r(ing par%ner! %#an w#a% %#e (o*ld a(%*all e3pe(% )rom %#eir own depar%men%!+ :0#en %#e &o' i! 'eing done 1E,EEE mile! awa , demand! on parame%er! !*(# a! -*ali% , %*rn aro*nd %imeline!!, in)orma%ion !e(*ri% , '*!ine!! (on%in*i% and di!a!%er re(o$er , e%(, are )ar #ig#er %#an a% #ome+ So, #ow %o 'e more e))i(ien% %#an %#e original. =+ /a(" o) )o(*!ed %raining and (er%i)i(a%ion! gi$en %#i! 'a("gro*nd, %#e re(r*i%ing and (ompen!a%ion (#allenge! o) HR depar%men%! are onl *nder!%anda'le+

3.2.2

7(y ,eo,+e ,refer to join 7IP O

In general a per!on wi%# an grad*a%ion (an &oin an o) %#e BPO+ Some BPOC! li"e %o %a"e people wi%# MBA '*% %#en again %#e !pe(iali2a%ion are o) an indi$id*al #ardl ma"e! an di))eren(e+ Again, %#i! i! %#e ind*!%r G w#ere %#ere i! no re)eren(e (#e("! and $er o)%en people donC% e$en !pe(i) %#ere e3a(% age+ /e%! me !#are wi%# o* !ome o) %#e rea!on! a! w# people pre)er %o &oin a (ompan 1 No% ge% a 'e%%er &o'+ Find no%#ing 'e%%er %o do+ Ed*(a%ion le$el doe!nC% ma%%er+ <ood wor" en$ironmen%+ <ood Bene)i%!+ Fle3i'ili% o) %ime+ A%%ra(%i$e li)e !% le+ Tran!por% )a(ili% +

3.2.4
0#en %#ere are !o man

7(y ,eo,+e +e've t(e 7IP O


'ene)i%! a!!o(ia%ed wi%# BPO ind*!%r +w#en %#ere are !o man

pri$ilege! )or %#e BPO emplo ee! %#an w#a% ma"e! %#em %o (#ange %#e (ompan 9ind*!%r .. I! i% onl MONEL %#a% ma%%er! or an %#ing el!e a! well.. Here are !ome o) %#e rea!on! )or a BPO pro)e!!ional %o (#ange #i!9#er &o'+ Page | =F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

1+ 6+ 7+ 8+ =+ ?+ @+ D+

No grow%# oppor%*ni% 9la(" o) promo%ion For #ig#er Salar For Hig#er ed*(a%ion Mi!g*idan(e ' %#e (ompan Poli(ie! and pro(ed*re! are no% (ond*(i$e No per!onal li)e P# !i(al !%rain! Unea! rela%ion!#ip wi%# peer! or manager!

3.2.5

7i,ro HPO FO " ,r'ctices

0ipro Spe(%ra mind #a! 'een awarded %#e NHRDN ANa%ional HRD Ne%wor"B Trail'la2er! Award 6EE8, d*ring %#e In%erna%ional NHRD >on)eren(e 6EE8, #o!%ed in Bangalore+ T#e award wa! (on)erred in %#e (a%egor o) a(ademi( in!%i%*%ion!, (orpora%ion! and $ol*n%ar organi2a%ion! %#a% #a$e (rea%ed new pa%#! and dire(%ion! )or o%#er! %o em*la%e+ A((ording %o a pre!! relea!e, NHRDN #a! !pe(i)i(all re(ogni2ed 0ipro Spe(%ra mind )or i%! per)orman(e orien%a%ion %#a% #a! 'e(ome (en%ral %o %#e (ompan (*l%*re+ T#e per)orman(e managemen% ! !%em a% %#e (ompan i! aligned %o 'o%#, %#e '*!ine!! goal! and $al*e! ad#eren(e+ T#e (ompan $al*e!9 opera%ing prin(iple! are 'ro"en down in%o 'e#a$ioral indi(a%or! %#a% are o'!er$ed and mea!*red on a reg*lar 'a!i!, w#i(# in %*rn lin"ed %o %#e per!onal e))e(%i$ene!! parame%er! in an indi$id*alC! per)orman(e re$iew+ T#ere i! al!o an ongoing emp#a!i! on %raining need! a!!e!!men% and people de$elopmen%+ 0ipro Spe(%ra mind wa! al!o no%ed )or i%! inno$a%i$e pra(%i(e! in %#e area! o) a%%ra(%ing %#e rig#% %alen%, reward and re(ogni%ion, promo%ing )*n a! a wri%%en down opera%ing prin(iple, learning, emplo ee (omm*ni(a%ion and (ompen!a%ion w#i(# are among!% %#e "e !pe(%a(*lar !*((e!! o) %#e (ompan + rea!on! )or %#e

Page | ?E BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

BIG BAZAAR

Page | ?1 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

I6DUST Y P OFI$E
3.4 ET!I$ I6DUST Y
Re%ail ind*!%r , 'eing %#e )i)%# large!% in %#e world, i! one o) %#e !*nri!e !e(%or! wi%# #*ge grow%# po%en%ial and a((o*n%! )or 1841=I o) %#e (o*n%r ,! <DP+ >ompri!ing o) organi2ed and *norgani2ed !e(%or!, Indian re%ail ind*!%r i! one o) %#e )a!%e!% growing ind*!%rie! in India, e!pe(iall o$er %#e la!% )ew ear!+ A((ording %o %#e <lo'al Re%ail De$elopmen% Inde3 6E16, India ran"! )i)%# among %#e %op 7E emerging mar"e%! )or re%ail+ T#e re(en% anno*n(emen% ' %#e Indian go$ernmen% wi%# Foreign Dire(% In$e!%men% AFDIB in re%ail, e!pe(iall allowing 1EEI FDI in !ingle 'rand! and m*l%i4'rand FDI #a! (rea%ed po!i%i$e !en%imen%! in %#e re%ail !e(%or+ Re%ail ind*!%r (an 'e (la!!i)ied in%o %wo 'road (a%egorie! ; organi2ed re%ail and *norgani2ed re%ail+

Or)'ni?ed ret'i+ 4 T#o!e %rader!9re%ailer! w#o are li(en!ed )or %rading a(%i$i%ie! and
regi!%ered %o pa %a3e! %o %#e go$ernmen%

Unor)'ni?ed ret'i+ ; I% (on!i!%! o) *na*%#ori2ed !mall !#op! 4 (on$en%ional Qirana !#op!,


general !%ore!, (orner !#op! among $ario*! o%#er !mall re%ail o*%le%! 4 '*% remain %o 'e %#e radia%ing )or(e o) Indian re%ail ind*!%r +

Page | ?6 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Fig*re 17 M S#are o) (a%egorie! in organi2ed re%ail !e(%or 3.4.1

E*er)in) !re's

Some !e(%or! %#a% o((*p a prominen% po!i%ion wi%# %#e re%ail ind*!%r are1

!,,'re+ 'nd f's(ion ; E$er 'od *nder!%and! %#e impa(% o) )a!#ion and %e3%ile! on %#e
en$ironmen%+ Almo!% U1F+= 'illion were !pen% on online apparel !#opping in %#e ear 6EEF and in(rea!ing !in(e %#en+

F's(ion J $ifesty+e 4 In India %#e $a!% middle (la!! and i%! almo!% *n%apped re%ail
ind*!%r are %#e "e a%%ra(%i$e )or(e! )or glo'al re%ail gian%! wan%ing %o en%er in%o newer mar"e%!, w#i(# in %*rn will #elp %#e re%ail %o grow )a!%er+

Food J Hever')e ret'i+ 4 Ba("ed ' #*ge po%en%ial and (#anging li)e!% le!, %#e )ood
and 'e$erage re%ail mar"e% i! growing a% a ro'*!% 7E47= per (en% per ear+

P('r*'ceutic'+

et'i+ ; Dri$en ' %#erapie! li"e an%i4dia'e%i(, $i%amin, an%i4in)e(%i$e!

and derma%olog , i% a((o*n%ed )or a ro'*!% 1=I grow%# in 6E11+

Page | ?7 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

E1co**erce or E1t'i+in) ; %#e ne3% 'ig re$ol*%ion 4 0i%# %#e ad$en% o) e4(ommer(e in
%#e re%ail ind*!%r , re%ail !%ore! are )a(ing !%i)) (ompe%i%ion )rom e4!%ore!+ T#e ri!ing demand )or e4!#opping #a! lead %o a new de'a%e (ropping *p in %#e world+

3.4.2

C('++en)es O,,ortunities 'nd Str'te)ies

Re%ailing i! one o) %#e 'igge!% !e(%or! and i% i! wi%ne!!ing re$ol*%ion in India+ T#e new en%ran% in re%ailing in India !igni)ie! %#e 'eginning o) re%ail re$ol*%ion+ IndiaC! re%ail mar"e% i! e3pe(%ed %o grow %remendo*!l in ne3% )ew ear!+ A((ording %o AT Qearne , T#e 0indow! o) Oppor%*ni% !#ow! %#a% Re%ailing in India wa! a% opening !%age in 1FF= and now i% i! in pea"ing !%age in 6EE?+ IndiaC! re%ail mar"e% i! e3pe(%ed %o grow %remendo*!l in ne3% )ew ear!+ India !#ow! USU77E 'illion re%ail mar"e% %#a% i! e3pe(%ed %o grow 1EI a ear, wi%# modern re%ailing &*!% 'eginning+ India ran"! )ir!% in 6EE=+ In )a(%, in 6EE= and 6EE?, India i! %#e mo!% (ompelling oppor%*ni% )or re%ailer!, 'e(a*!e now India i! in pea"ing !%age+ T#i! window o) oppor%*ni% i! *!e)*l )or e3e(*%i$e! w#o plan %#eir mar"e%4!pe(i)i( !%ra%egie!G %#e )o*r !%age! or %#e li)e( (le o) %#i! ind*!%r i! a! a! )ollow!1

!. Introduction0
S%ra%eg !*gge!%ed1 A rapid pene%ra%ion !%ra%eg i! !*gge!%ed a% %#i! S%age i+e+ low pri(e and #ig# promo%ion+

H. %ro-t(0
T#e !%ra%eg o) adop%ing -*ali% and !% led prod*(%! wi%# new model! and !#i)% o) ad$er%i!ing )rom prod*(% awarene!! %o prod*(% pre)eren(e Eg G %#e 'ig 'a2aar ad$er%i!emen% !a ! !*r) e3(el i! (#eaper %#an %#e mar"e% pri(e+ T#e idea 'e#ind adop%ing !%ra%eg i! %o !%reng%#en again!% (ompe%i%or!

C . #'turity0
En%er new mar"e% !egmen%! %#a% i! ei%#er en%er new geograp#i( area! e+g+ G$i!#al meg#a mar% #a! opened !%ore! in !maller (i%ie! %ier II and III (i%ie!

D. Dec+ine0
Page | ?8 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

T#e window o) oppor%*ni% i! (lo!ing )a!% and modern re%ail !#are i! rea(#ing 8E %o ?E per(en%+ T#o*g# %#e oppor%*ni% i! (lo!ing %#e e3i!%ing re%ailer! (an en%er wi%# new )orma%! !*(# a! di!(o*n% model! or non4)ood )orma%! !*(# a! (on!*mer ele(%roni(! and apparel+ 0indow o) oppor%*ni% end! )or a'o*% = %o 1E ear! 'e)ore a mar"e% en%er! %#e (lo!ing p#a!e and rea(#e! !a%*ra%ion le$el+ India )or e3ample, wa! in %#e opening !%age in 1FF= and en%ered pea"ing !%age in %#e ear 6EE7 and rea(#ed n*m'er 1 ran" in6EE=+

3.4.3
Falling real e!%a%e pri(e!

F'ctors drivin) )ro-t( 're0

Emergen(e o) n*(lear )amilie!

<rowing %rend o) do*'le4in(ome #o*!e#old! In(rea!e in di!po!a'le in(ome and (*!%omer a!pira%ion In(rea!e in e3pendi%*re )or l*3*r i%em! /arge wor"ing pop*la%ion /ow !#are o) organi2ed re%ailing <rowing li'erali2a%ion o) %#e FDI poli( in %#e pa!% de(ade

S9i++ sets re3uired 're0


T#e ind*!%r emplo ! a !%aggering n*m'er o) people, and gi$en i%! rapid proli)era%ion, %#i! n*m'er i! alwa ! on %#e ri!e+ T#e 'a("'one o) %#e !e(%or are %#e opera%ion! and !*ppl (#ain managemen% &o'! '*% %#ere are $ario*! o%#er op%ion! a! well, )rom !ale! e3e(*%i$e! and !%ore manager! %o mer(#andi!e planner! and '* er!+ >on(ep%*al *nder!%anding Anal %i(al !"ill! De%ail4orien%a%ion Fair *nder!%anding o) (*!%omer,! p! (#olog O'!er$a%ion! !"ill! Pro&e(% Managemen% Opera%ional S"ill! In4dep%# prod*(% "nowledge

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3.4.2

Hott+enec9s

A long wa %o mee% in%erna%ional !%andard! /a(" o) e))i(ien% !*ppl 4(#ain managemen% /a(" o) re-*ired re%ail !pa(e No )i3ed (on!*mp%ion pa%%ern S#or%age o) %rained manpower /a(" o) proper in)ra!%r*(%*re and di!%ri'*%ion (#annel! Ra%ing! agen( Fi%(# #a! a!!igned a !%a'le o*%loo" %o %#e re%ail !e(%or )or 6E16 a! )a(%or! li"e e3pe(%ed !ale!, grow%#4dri$en e3pan!ion and e))i(ien% wor"ing (api%al managemen% are li"el %o 'ene)i% re%ail (ompanie!+

3.4.4

Sco,e in ret'i+in)

Re%ail i! (learl %#e !e(%or %#a% i! poi!ed %o !#ow %#e #ig#e!% grow%# in %#e ne3% )i$e ear!+ T#e !e(%or i! !e% )or a re$ol*%ion, a! 'o%# %#e pre!en% pla er! and new en%ran%! are gearing *p %o e3plore %#e mar"e%+ T#i! !e(%or (on%ri'*%e! 1EI o) IndiaC! <DP and %#e (*rren% grow%# ra%e i! D+=I+ T#e pre!en% !i2e o) %#e organi2ed re%ailing !e(%or i! appro3ima%el 7I and i! e3pe(%ed %o grow %o 6=47EI ' %#e ear 6E1E+ T#ere are a'o*% 7EE new mall!, 1=EE !*permar"e%! and 76= depar%men%al !%ore! (*rren%l *nder (on!%r*(%ion+ Man pla er! are (oming *p wi%# #*ge in$e!%men%!, d*e %o w#i(# %#e pre!en% 16 million mom4and4pop !#op! and "irana !%ore! )ear lo!ing %#eir '*!ine!!+ Mo!% predi(%ion! !a %#a% %#e !e(%or mig#% rea(# %o USU 8EE4?EE 'illion ' %#e ear 6E1E+ <lo'al re%ail gian%! !*(# a! 0al4Mar%, Te!(o, <erman C! Me%ro A< and man o%#er! are read %o en%er %#e re%ail mar"e%!+ T#e ri!ing demand o) 'randed prod*(%! and in(rea!e in p*r(#a!ing power #a! l*red %#e!e (ompanie! %o en%er %#e mar"e%+

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CO#P!6Y P OFI$E
3.5 HI% H!M!!

Big Ba2aar i! no% &*!% ano%#er # permar"e%+ I% (a%er! %o e$er need o) o*r )amil + 0#ere Big Ba2aar !(ore! o$er o%#er !%ore! i! i%! $al*e )or mone propo!i%ion )or %#e Indian (*!%omer!+ T#e Big Ba2aar i! one !*(# depar%men% !%ore %o #a$e !e% *p !#op a(ro!! %#e (o*n%r + Sin(e i%! )ir!% o*%le% opened in Qol"a%a in la%e 6EE1, %#e Big Ba2aar #a! !pread %o %own! and (i%ie! a% an alarming ra%e+ >*rren%l 1E? o*%le%! T#e!e m*l%i4le$el !#opping me((a! !%o(" e$er %#ing )rom )ood %o )ridge!, and (oo"ware %o (lo%#e!+ Howe$er, %#e Big Ba2aar i!nC% o*r ordinar depar%men% !%ore+ I%C! 'een e!pe(iall de!igned %o appeal %o %#e Indian (on!*mer+ Big Ba2aar 0i%# a !logan o) $'s se sasta aur a ha (ahin nahi)$ A:Now#ere (#eaper or 'e%%er %#an %#i!P:B, %#e Big Ba2aar %arge%! i%!el) dire(%l a% %#e a$erage IndianC! lo$e o) )ollowing %#e (rowd and !(ram'ling )or a good di!(o*n%+

3.5.1

P'rent1P'nt'+oon et'i+ Indi' $td

Pan%aloon Re%ail AIndiaB /imi%ed, i! India,! leading re%ailer %#a% opera%e! m*l%iple re%ail )orma%! in 'o%# %#e $al*e and li)e!% le !egmen% o) %#e Indian (on!*mer mar"e%+ Head-*ar%ered in M*m'ai ABom'a B, %#e (ompan opera%e! o$er 16 million !-*are )ee% o) re%ail !pa(e, #a! o$er 1EEE !%ore! a(ro!! @1 (i%ie! in India and emplo !o$er7E,EEpeople+ T#e (ompan ,! leading )orma%! in(l*de Pan%aloon!, a (#ain o) )a!#ion o*%le%!, Big Ba2aar, a *ni-*el Indian # permar"e% (#ain, Food Ba2aar, a !*permar"e% (#ain, 'lend! %#e loo", %o*(# and )eel o) Indian ba"aars wi%# a!pe(%! o) modern re%ail li"e (#oi(e, (on$enien(e and -*ali% and >en%ral, a (#ain o) !eamle!! de!%ina%ion mall!+ Some o) i%! o%#er )orma%! in(l*de Brand Fa(%or , Bl*e S" , all, Top 1E and S%ar and Si%ara+ T#e (ompan )*%*re'a2aar+(om+ A !*'!idiar (ompan , Home Sol*%ion! Re%ail AIndiaB /imi%ed, opera%e! Home Town, a Page | ?@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES al!o opera%e! an online por%al,

large4)orma% #ome !ol*%ion! !%ore, >olle(%ion i, !elling #ome )*rni%*re prod*(%! and e Vone )o(*!ed on (a%ering %o %#e (on!*mer ele(%roni(! !egmen%+ Pan%aloon Re%ail wa! re(en%l awarded %#e In%erna%ional Re%ailer o) %#e Lear 6EE@ ' %#e US4'a!ed Na%ional Re%ail Federa%ion ANRFB and %#e Emerging Mar"e% Re%ailer o) %#e Lear 6EE@ a% %#e 0orld Re%ail >ongre!! #eld in Bar(elona+

Fig*re 18 M Big Ba2aar Segmen%! 3.5.2 T'r)et !udience

Big Ba2aar %arge%! #ig#er and *pper middle (la!! (*!%omer!, %#e large and growing o*ng wor"ing pop*la%ion i! a pre)erred (*!%omer !egmen%, Big Ba2aar !pe(i)i(all %arge%! wor"ing women and #ome ma"er! w#o are %#e primar de(i!ion ma"er!+

3.5.3

Product *iF

Denim! S %4!#ir%! Fa'ri(!S (*% pie(e! Formal wear >a!*al wear Par% wear E%#ni( wear A((e!!orie! Under garmen%! Nig#% wear Dre!! ma%erial Sari! S%aple! Read %o ea% Read %o (oo" In%erna%ional )ood Spi(e! Impor%ed 'a2aar TeaS (o))ee Fr*i%! Hege%a'le! Impor%ed )r*i%! Dair prod*(%! So)% drin"! Pa("aged &*i(e! Mil" i%em Fro2en )ood! I(e (ream! S#ampoo! De%ergen%! Soap! /i-*id wa!# (ream! deodoran%! Home (leaner! *%en!il! pla!%i(! (ro("er

Pricin)

Hal*e pri(ing AED/PB Promo%ional pri(ing ,low in%ere!% )inan(ing ,p! (#ologi(al

di!(o*n%ing, !pe(ial e$en% pri(ing Di))eren%ia%ed pri(ing ,%ime pri(ing, B*ndling+ Page | ?D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

P+'ce1store +oc'tions
Ini%iall iden%i)ie! )*%*re9 po%en%ial de$elopmen% area!, a(-*ire !*(# area! a% an earl p#a!e 'e)ore %#e real e!%a%e $al*e 'oom!, and lo(a%ed a% #ig# %ra))i( area!+

Pro*otion
N Saal "e Sa'!e Sa!%e 7 DinO F*%*re (ardA7I di!(o*n%B S#a"%i (ard Ad$er%i!ingAprin% ad!, TH ad!, radioB Brand endor!emen% ' #.S D"O6I E3(#ange o))er 0ee"end di!(o*n%! Poin% o) p*r(#a!e promo%ion! X 5*n"C !wap o))er4 NE3(#ange an %#ing

E1t'i+in)
To o$er(ome lo(a%ion di!ad$an%age4 la*n(#ed a mer(#andi!e re%ailing we'!i%e www+)*%*re'a2aar+(om w#i(# %arge%! #ig#4end (*!%omer! read %o *!e (redi% (ard!+ In%erne% a! pla(e #a! p*% %#em in a pro)i%a'le po!i%ion 'e(a*!e %#ere i! minimal e3pen!e o) main%aining a we'!i%e+

Page | ?F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

CHAPTER 4 DATA ANALYSIS AND INTERPRETATION

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2.1

$%

ETE6TIO6 PO$ICIES

1. E*otion'+ Hondin)
F'*i+y !*b'ss'dor ,ro)r'* w#i(# #elp! To B*ild Stron) e*otion'+ bondin) wi%# emplo ee B*ild! O,enness 'nd trust Be%ween Mgm% and wor"er!

%u'rdi'ns(i, Pro)r'* i! a medi*m )or promp% re!pon!e o) -*erie! ' wor"men See9 E*,+oyee concern )a!%er De$elop! E*otion'+ Invo+ve*ent Impro$e! e*,+oyee 'nd e*,+oyer re+'tions(i, 7innin) Confidence o) emplo ee! Qeep! %#e managemen% *pda%ed o) emplo ee (on(ern!

#entor N#'ntee Pro)r'* #elp! %#e New 5oinee %o adap% %#e >*l%*re a% ea!e Help! S*oot( Tr'nsition of ne- syste*s >*l%i$a%e %#e !en!e o) 'elongingne!! in emplo ee I%,! a good a(%i$i% )or (oa(#ing and (o*n!elling %#e new emplo ee

2. E*,+oyee edr'ss'+
"e+, Des9 A(%i$i% i! an a(%i$i% )or !ol*%ion wi%#in 68 Ho*r! i+ I%,! a >o*n%er %o re!ol$e %#e -*erie! o) %#e wor"men wi%#in 68 Hr!+ ii+ Fa!%e!% >#annel 'e%ween Managemen% S %#e wor"men iii+ Fa!%er De(i!ion lead! %o emplo ee Sa%i!)a(%ion i$+ Promp% Re!pon!e o) Y*erie! o) $ario*! na%*re+ Pi??' *eetin) i! a )or*m %o (rea%e openne!! 'e%ween S*perior and S*'ordina%e On %#e Spo% !ol*%ion %o i!!*e!9 S*gge!%ion! >rea%e! openne!! 'e%ween Managemen% and emplo ee! In(rea!e wor" e))i(ien( Page | @1 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Impro$e! rela%ion!#ip 'e%ween Managemen% and emplo ee!

3. *W+ , ti-ityA5o )*l 0or"ingB


>rea%ing 5o )*l wor"ing (*l%*re , In(rea!e Emplo ee (ommi%men% Festiv'+ Ce+ebr'tion Hirt(d'y Ce+ebr'tion Hest E*,+oyee Cou,on St'ndin) #eetin) !-'rds C('n)e !)ent !ctivity B*ilding o) >rea%i$e Mind, 0inning A%%i%*de S O*%!%anding Per)orman(e

Infor*'+ C+ubA Medi%a%ion,>omm*ni% ,M*!i(al,Ad$en%*reB In%egra%ed people managemen% ! !%em %o !*ppor% %#eir >rea%i$i% and mo%i$a%e emplo ee! in a !o(ial manner On t(e Oob Tr'inin)AO5TB 7e+co*e C'rd )or New 5oinee Hui+ds e*,+oyee *or'+e on %#e $er )ir!% da

SiF *ont( co*,+etion cere*ony

2. $e'ders(i, Deve+o,*ent Pro)r'*


35E de)ree Feed'a(" Me(#ani!m >#allenge %#e %eam leader! per)orman(e

Emplo ee !a%i!)a(%ion !*r$e Succession ,+'nnin) B*ilding !e(ond line manager! )or (r*(ial po!i%ion!

o /eader!#ip >o*n!eling #e+t1In A(%i$i% #elp! %o !ee" emplo ee (on(ern! and re!ol$e %#em )a!%er Be%%er rela%ion!#ip 'e%ween 'o!! S !*'+ Be%%er Team 0or"+ Fa!% Re!ol*%ion o) I!!*e! Page | @6 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Red*(e A%%ri%ion Famil In$ol$emen%

4. . /ulture 14 Hal*e >rea%ion %#r*, En#an(ing >ompan 0ide Y*ali% >*l%*re Environ*ent'+ Pu'+ity T#in" Y*ali% , B*ild Y*ali% , Spread Y*ali%

Tr'ns'ction'+ Pu'+ity Y*ali% o) (omm*ni(a%ion Rela%ion!#ip Y*ali% Fair and Tran!paren% dealing

Process Pu'+ity Y4(ollege, Y4S !%em, Y4inno$a%ion

5. To reduce stress by Ti*e !n'+ysisKE

CL01Elimina%e, Red*(e, Rai!e, >rea%e

A. Use of %" S inste'd of " #S syste*C -(ic( is ' /ore'n syste*.


B. Tre'sure "untin) To red*(e Non Hal*e added a(%i$i%ie! Smar% 0or"in

D. O,en Co**unic'tion
o Fee+ Free Session140#ere people are )ree %o di!(*!! %#eir pro'lem! o Fortni)(t Te' #eetin) o Pi??' $unc( -it( #D o All br'instor* sessions are open )or e$er one 4 e$en %#e pragma%i( (oder! 4 a! we re!pe(% %#e )a(% %#a% e$er one #a! a di))eren% opinion and approa(#+

1E. Encour')e ,eo,+e to t'9e +unc(esC bre'9s 'nd not to -or9 +'te+
Page | @7 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

2.2

7i,ro etention Po+icies

Re%en%ion i! a (o!%l a))air )or an (ompan + 0ipro, wi%# %#e #ig#e!% ra%e! o) a%%ri%ion, need! %o wor" reall #ard on i%! re%en%ion managemen% !%ra%egie!+ 0ipro regi!%ered an a%%ri%ion ra%e o) 6E+7I in %#e ear 6EED46EEF+ 0#en an emplo ee lea$e! an organi2a%ion, %#e organi2a%ion no% onl loo!e! o*% on %#e (o!% o) %raining %#e emplo ee! '*% al!o %#e lo!! o) in%elle(% )rom %#e %alen% pool+ T#e main impor%an% Re%en%ion )a(%or! o) 0ipro are 14 1+ %rou, #edi1c+'i* Insur'nce Sc(e*e0 T#i! in!*ran(e !(#eme i! %o pro$ide ade-*a%e in!*ran(e (o$erage o) emplo ee! )or e3pen!e! rela%ed %o #o!pi%ali2a%ion d*e %o illne!!, di!ea!e or in&*r or pregnan( in (a!e o) )emale emplo ee! or !po*!e o) male emplo ee!+ All emplo ee! and %#eir dependen% )amil mem'er! are eligi'le+ Dependen% )amil mem'er! in(l*de !po*!e, non4earning paren%! and (#ildren a'o$e %#ree mon%#! 6+ Person'+ !ccident Insur'nce Sc(e*e0 T#i! !(#eme i! %o pro$ide ade-*a%e in!*ran(e (o$erage )or Ho!pi%ali2a%ion e3pen!e! ari!ing o*% o) in&*rie! !*!%ained in an a((iden%+ T#i! (o$er! %o%al 9 par%ial di!a'lemen% 9 dea%# d*e %o a((iden% and d*e %o a((iden%!+ 7+ Subsidi?ed Food 'nd Tr'ns,ort'tion0 T#e organi2a%ion! pro$ide %ran!por%a%ion )a(ili% %o all %#e emplo ee! )rom #ome %ill o))i(e a% !*'!idi2ed ra%e!+ T#e l*n(# pro$ided i! al!o !*'!idi2ed+ 8+ Co*,'ny $e'sed !cco**od'tion0 Some o) %#e (ompanie! pro$ide! !#ared a((ommoda%ion )or all %#e o*% !%a%ion emplo ee!, in )a(% !ome o) %#e BPO (ompanie! al!o *nder%a"e! %o pa li)e 'alan(e+ =+ ele(%ri(i% 9wa%er 'ill! a! well a! %#e So(ie% (#arge! )or %#e !#ared a((ommoda%ion+ T#e p*rpo!e i! %o pro$ide %o %#e emplo ee! %o lead a more (om)or%a'le wor"

ecre'tionC C'feteri'C !T# 'nd Concier)e f'ci+ities0 T#e re(rea%ion )a(ili%ie!


in(l*de pool %a'le!, (#e!! %a'le! and (o))ee 'ar!+ >ompanie! al!o #a$e well e-*ipped g m!, per!onal %rainer! and !#ower! a% )a(ili%ie!+ Page | @8 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

?+ Cor,or'te Credit C'rd0 T#e main p*rpo!e o) %#e (orpora%e (redi% (ard i! ena'le %#e %imel and e))i(ien% pa men% o) o))i(ial e3pen!e! w#i(# %#e emplo ee! *nder%a"e )or p*rpo!e! !*(# a! %ra$el rela%ed e3pen!e! li"e Ho%el 'ill!, Air %i("e%! e%( @+ Ce++u+'r P(one G $',to,0 >ell*lar p#one and 9 or /ap%op are pro$ided %o %#e emplo ee! on %#e 'a!i! o) '*!ine!! need+ T#e emplo ee i! re!pon!i'le )or %#e main%enan(e and !a)eg*arding o) %#e a!!e%+ D+ Person'+ "e'+t( C're K e)u+'r *edic'+ c(ec91u,sL0 Some o) %#e BPOCS pro$ide! %#e )a(ili% )or e3%en!i$e #eal%# (#e("4*p+ For emplo ee! wi%# a'o$e 8E ear! o) age, %#e medi(al (#e("4*p (an 'e done on(e a ear+ F+ $o'ns0 Man BPO (ompanie! pro$ide loan )a(ili% on %#ree di))eren% o((a!ion!1 Emplo ee! are pro$ided wi%# )inan(ial a!!i!%an(e in (a!e o) a medi(al emergen( + Emplo ee! are al!o pro$ided wi%# )inan(ial a!!i!%an(e a% %#e %ime o) %#eir wedding+ And, %#e new re(r*i%! are pro$ided wi%# in%ere!% )ree loan! %o a!!i!% %#em in %#eir ini%ial !e%%lemen% a% %#e wor" lo(a%ion+ 1E+ Educ'tion'+ Henefits0 Man BPO (ompanie! #a$e %#i! poli( %o de$elop %#e per!onali% and "nowledge le$el o) %#eir emplo ee! and #en(e reim'*r!e! %#e e3pen!e! in(*rred %oward! %*i%ion )ee!, e3amina%ion )ee!, and p*r(#a!e o) 'oo"! !*'&e(%, )or p*r!*ing MBA, and9or o%#er managemen% -*ali)i(a%ion a% IndiaC! %op mo!% B*!ine!! S(#ool!+ 11+ Perfor*'nce b'sed incentives0 In man BPO (ompanie! %#e #a$e plan! )or,

per)orman(e 'a!ed in(en%i$e !(#eme+ T#e parame%er! )or (al(*la%ion are pro(e!! per)orman(e i+e+ !peed, a((*ra( and prod*(%i$i% o) ea(# pro(e!!+ T#e Pa )or Per)orman(e (an 'e a! m*(# a! 66I o) %#e !alar + 16+ F+eFi1ti*e0 T#e main o'&e(%i$e o) %#e )le3%ime poli( i! %o pro$ide oppor%*ni% %o

emplo ee! %o wor" wi%# )le3i'le wor" !(#ed*le! and !e% o*% (ondi%ion! )or a$ailing %#i! pro$i!ion+ Fle3i'le wor" !(#ed*le! are ini%ia%ed ' emplo ee! and appro$ed ' managemen% %o mee% '*!ine!! (ommi%men%! w#ile !*ppor%ing emplo ee per!onal li)e need! +T#e )a(%or! on w#i(# Fle3i %ime i! allowed %o an emplo ee in(l*de1 >#ild or Paren% (are, Heal%# !i%*a%ion, Ma%erni% , Formal ed*(a%ion program 17+ F+eFib+e S'+'ry Henefits0 I%! main o'&e(%i$e i! %o pro$ide )le3i'ili% %o %#e emplo ee! %o plan a %a34e))e(%i$e (ompen!a%ion !%r*(%*re ' 'alan(ing %#e mon%#l ne% in(ome, earl 'ene)i%! and in(ome %a3 pa a'le+ I% i! appli(a'le o) all %#e emplo ee! o) %#e organi2a%ion+ T#e Page | @= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Salar (on!i!%! o) Ba!i(, DA and >on$e an(e Allowan(e+ T#e Fle3i'le Bene)i% Plan (on!i!%! o)1 Ho*!e Ren% Allowan(e, /ea$e Tra$el A!!i!%an(e, Medi(al Reim'*r!emen%, Spe(ial Allowan(e 18+

e)u+'r %et to)et(er 'nd ot(er cu+tur'+ ,ro)r'*s0 T#e (ompanie! organi2e!
(*l%*ral program a! and w#en po!!i'le '*% mo!% o) %#e %ime!, on(e in a -*ar%er, in w#i(# all %#e emplo ee! are gi$en an oppor%*ni% %o di!pla %#eir %alen%! in drama%i(!, !inging, a(%ing, dan(ing e%(+ Apar% )rom %#a% %#e organi2a%ion! al!o (ond*(% $ario*! !por%! program! !*(# a! >ri("e%, )oo%'all, e%( and reg*larl pla ma%(#e! wi%# %#e %eam! o) o%#er organi2a%ion! and (ollege!+

1=+ 7eddin) D'y %ift0 Emplo ee i! gi$en a gi)% $o*(#er o) R!+ 6EEE94 %o R!+ @EEE94 'a!ed on %#eir le$el in %#e organi2a%ion+ 1?+ E*,+oyee organi2a%ion+

eferr'+ Sc(e*e0 In !e$eral (ompanie! emplo ee re)erral !(#eme i!

implemen%ed %o en(o*rage emplo ee! %o re)er )riend! and rela%i$e! )or emplo men% in %#e

2.3
1.

Hi) H'?''r etention Po+icies


To, Perfor*er Profi+es

&/no-in) (o- to se+ect t(e ri)(t ,eo,+eC 'nd in f'ctC 'ctu'++y se+ectin) t(e* is essenti'+ to successfu+ ,erfor*'nce.. 4 Bill Pollo(", NPeople Are E$er %#ingO I% i! impor%an% %#a% 'o%# %#e organi2a%ion and %#e emplo ee "now w#a% %#e wan% %o ge% o*% o) %#e &o'+

Page | @? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

T#e goal )or an re(r*i%men% !%ra%eg !#o*ld 'e %o a%%ra(% a %op per)ormer w#o will !%a wi%# %#e (ompan )or a! long a! po!!i'le+ In order %o #ire %#o!e Nnear per)e(%O indi$id*al!, an ideal role pro)ile !#o*ld 'e (rea%ed+ I) a (ompan !pend! -*ali% %ime, energ and )o(*! %o (rea%e !*(# a pro)ile i% 'e(ome! m*(# ea!ier %o !o*r(e -*ali)ied (andida%e! w#o will !*((e!!)*ll )ill %#e po!i%ion+ A (andida%e pro)ile !#o*ld 'e '*il% aro*nd e3i!%ing %op per)ormer,! !"ill!, "nowledge and 'e#a$io*r+ U!ing predi(%i$e per)orman(e pro)iling !*(# a! Dra"e,! P7 pro$e! in$al*a'le in %#i! pro(e!!+ I% will ma%(# (andida%e! %o %#e!e (ri%eria and di!%ing*i!# %#em a! )*%*re "e (on%ri'*%or! in o*r organi2a%ion+

2.

Orient'tion 'nd Onbo'rdin)

On(e ideal (andida%e! are #ired, %#eir orien%a%ion %o %#e (ompan and %#e role i! paramo*n%+ Orien%a%ion i! %#e (ri%i(al N)i%%ing inO p#a!e o) %#e %raining pro(e!!+ New #ire! are orien%ed %o %#e wor"pla(e (*l%*re, %rained in %#e role and learn %#e (ompan ,! e3pe(%ed o*%(ome!+ T#e orien%a%ion pro(e!! m*!% pro$ide a (lear *nder!%anding o) %#e role and %#e per)orman(e %arge%! ne(e!!ar %o a%%ain %o (omple%e %#e role !*((e!!)*ll + On'oarding (on%in*e! )ar pa!% %#e poin% w#ere orien%a%ion program! % pi(all end+ Some orien%a%ion e3perien(e! (on(l*de a)%er a (o*ple o) da ! o) %#e emplo ee,! )ir!% da + Le%, a n*m'er o) more enlig#%ened (ompanie! #a$e e3%ended %#eir orien%a%ion! )or a n*m'er o) mon%#!, (ond*(%ing )ollow4*p !e!!ion! on a periodi( 'a!i!+ T#i! longer approa(# o)%en !er$e! %o deepen %#e 'ond! wi%# %#e emplo ee ' pro$iding more a%%en%ion, #*man in%era(%ion and in)orma%ion+

3.

Perfor*'nce evie-s

Po!i%i$e )eed'a(" on a reg*lar 'a!i! doe! more %o propel !*((e!! in an indi$id*al %#an an o%#er per)orman(e rela%ed %a(%i(+ Per)orman(e re$iew! are a (#an(e %o )ormall (omm*ni(a%e an emplo ee,! (on%ri'*%ion %o %#e (ompan + A properl (ond*(%ed per)orman(e re$iew pro$ide! %#e emplo ee and %#eir manager an oppor%*ni% %o !%ep 'a(", loo" a% %#e 'igger pi(%*re o) %#e

Page | @@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

emplo ee,! per)orman(e and %o di!(*!! in 'road !%ro"e! w#e%#er %#e per)orman(e i! 'elow, a% or a'o$e (ompan e3pe(%a%ion!+ Per)orman(e Re$iew! in(rea!e %#e (#an(e o) an *nderper)orming emplo ee impro$ing %#eir per)orman(e+

2.

Co**unic'tion 'nd E*,+oyee En)')e*ent

>lear and open (omm*ni(a%ion i! %#e 'e!% )o*nda%ion )or n*r%*ring !%a))+ No%#ing !a ! re!pe(% or model! empowermen% more %#an manager! w#o a(%i$el li!%en %o %#eir emplo ee!+ T#e a(%i$e li!%ener appre(ia%e! %#e emplo ee,! )eeling!, inp*% and (on(ern! w#i(# (an 'e %#e mo!% (o!%4 e))e(%i$e wa %o a("nowledge people+ Being #eard '*ild! !el)4e!%eem and emplo ee! wi%# #ig# !el)4e!%eem )eel %r*!%ed and $al*ed and are le!! li"el %o )eel marginali2ed+

4.

#or'+e

0#e%#er emplo ee! are #eading )or %#e e3i%! a% an alarming ra%e or 'e(a*!e emplo ee rela%ion! i!!*e! are 'e(oming in(rea!ingl pro'lema%i(, %#e i!!*e o) morale i! (ri%i(al %o opera%ional !*((e!! and !#o*ld 'e %#e (orner!%one )or an re%en%ion !%ra%eg + Morale dire(%l a))e(%! %#e 'o%%om line %#ro*g# i%! impa(% on prod*(%i$i% , (*!%omer !er$i(e Aand %#ere)ore (*!%omer lo al% B, %*rno$er, a'!en%eei!m and li%iga%ion+ Morale pro'lem! are e3perien%ial pro'lem!G %#e ,re a re!*l% o) a nega%i$e or di!!a%i!) ing wor" e3perien(e d*e %o %#e a(%*al &o' i%!el), one,! rela%ion!#ip wi%# %#eir 'o!!, no% #a$ing ade-*a%e %raining or a m riad o) o%#er )a(%or! %#a% a))e(% morale+ Sin(e morale pro'lem! are d*e %o an *n!a%i!) ing wor" e3perien(e, %#e an!wer i! in (#anging %#e wor" e3perien(e+

5.

Co*,etitive Co*,ens'tionC Henefits 'nd Incentive Pro)r'*

>ompe%i%i$e (ompen!a%ion and 'ene)i% pa("age! in(l*ding !alar , 'on*!e!, !%o(" op%ion!, and %#e %radi%ional #eal%# in!*ran(e and re%iremen% pa("age! are %ool! %#a% !ome (ompanie! *!e %o #elp "eep emplo ee! on'oard+ Salar in(rea!e! !#o*ld 'e !%r*(%*red %o !%a (ompe%i%i$e wi%#in o*r mar"e% !e(%or, geograp# and %#e po!i%ion+ Page | @D BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

>are)*ll

de$eloped 'on*! or pro)i% !#aring program! pro$ide en(o*raging, goal4orien%ed

ini%ia%i$e! )or emplo ee! %o aim %oward!+ T#e goal! )or !*((e!! !e% o*% ' %#e manager and %#e emplo ee are more a%%aina'le i) reali!%i( and pra(%i(al in(en%i$e! are )irml in pla(e+

A.

6on1#onet'ry e-'rd eco)nition

>rea%i$e non4mone%ar reward and re(ogni%ion program! (an 'e power)*l %ool!+ In(rea!ingl , (ompanie! are *!ing in)ormal me%#od! )or rewarding !%a)) w#ile )inan(ial (ompen!a%ion i! 'e(oming le!! %#e norm )or re(ogni2ing emplo ee a((ompli!#men%!+ Reward ! !%em! %#a% are per!on4'a!ed are pro$ing %o 'e e))e(%i$e e!pe(iall w#en re(ogni%ion i! lin"ed %o per!onal de!ire! or need! !*(# a!1 Time O)) Fle3i'le wor" #o*r! 5o'4!#aring O))i(e Spa(e Home O))i(e Spe(ial Pro&e(%!, >ommi%%ee In$ol$emen% P*'li( A("nowledgmen% >areer de$elopmen% and %raining >omm*ni% and >#ari% In$ol$emen%

B.

E*,+oyee Surveys

>olle(%ing !*r$e da%a and *nder!%anding (on(ern! i! onl %#e )ir!% !%ep+ Manager! need %o (ra)% and implemen% poli(ie! %#a% mee% emplo ee (on(ern! #ead4on+ Organi2e (ompan 4wide (omm*ni(a%ion !e!!ion! %#a% )eed 'a(" !*r$e re!pon!e! and a!!o(ia%ed a(%ion!, %#i! le%! emplo ee! "now %#e are 'eing #eard and %#a% %#eir i!!*e! are 'eing addre!!ed+ Emplo ee !*r$e ! are 'e!% deli$ered ' a %#ird par% (on!*l%a%i$e (ompan +

D.

EFit Intervie-s

&F'cts do not ce'se to eFist bec'use t(ey 're i)nored.. Aldo*! H*3le I% i! *nreali!%i( %o %#in" %#a% good people (an 'e %rapped+ So, w#en people do lea$e i% i! impor%an% %o "now w# and ad&*!% #iring pro)ile!, poli(ie! and pra(%i(e! wi%#in %#e (ompan %o addre!! %#e (on(ern!+ Page | @F BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

T#ere are )i$e "e g*ideline! %#a% !#o*ld 'e "ep% in mind %o #elp en!*re %#a% %#e end re!*l% i! a *!e)*l and e))e(%i$e !*r$e 1 Do no% )o(*! !olel on %#e emplo ee,! rea!on! )or lea$ing '*% al!o on %#e emplo ee,! a%%i%*de! and e3perien(e! %#a% iden%i) %#e i!!*e! and (on(ern! w#i(# ma no% !*r)a(e w#en a!"ing a'o*% rea!on! )or lea$ing+ En!*re %#a% %#ere i! more %#an one wa )or emplo ee! %o e3pre!! %#eir rea!on! )or lea$ing ; in(l*ding !e$eral open4ended -*e!%ion! )or %#em %o in(l*de %#eir own (ommen%! ; %o ge% a )*ll per!pe(%i$e on %#eir de(i!ion %o lea$e+ In(orpora%e "e 'e#a$ioral mea!*re! !*(# a! %#e emplo ee,! !a%i!)a(%ion wi%# %#e &o' i%!el), #ow well %#e emplo ee,! &o' re!pon!i'ili%ie! were de)ined, per(ei$ed oppor%*ni%ie! )or ad$an(emen% and %#e emplo ee,! per!pe(%i$e on %#e amo*n% o) %raining, )eed'a(" and re(ogni%ion re(ei$ed+ Re(ogni2e %#a% e3i% in%er$iew pra(%i(e! need %o 'e implemen%ed (on!i!%en%l and in !*(# a wa a! %o en(o*rage emplo ee! %o !#are %#eir opinion! #one!%l + In(orpora%e %#e a'ili% %o e3amine re!*l%! no% onl on %#e 'a!i! o) indi$id*al re!*l%! '*% )or %#e organi2a%ion a! a w#ole

1E.

T(e Hoo*er'n) Effect


'een *!ed %o de!(ri'e emplo ee! w#o re%*rn %o an $er (ommi%%ed %o %#eir po!i%ion and %#e

T#e word Qboo*er'n)< #a! re(en%l

organi2a%ion+ Boomerang emplo ee! are *!*all

(ompan and are %#ere)ore (an 'e(ome %#e !ome o) o*r 'e!% re(r*i%er! )or new %alen% and men%or! )or e3i!%ing emplo ee!+ T#e %ime %#e #a$e !pen% awa )rom %#e organi2a%ion #a! gi$en %#em %#e addi%ional "nowledge o) %#e mar"e%, and %#e #a$e per!onall e3perien(ed %#a% per#ap! %#e gra!! i!n,% greener on %#e o%#er !ide+

2.2

CO#P! ISIO6 OF $%C 7IP O !6D HI% H!M!!

1. !ttrition r'te
In, 0ipro a%%ri%ion ra%e i! ; 6E+7I, in Big Ba2aar a%%ri%ion ra%e i! 6=I and in /g a%%ri%ion ra%e i! 1EI+ Page | DE BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

25 20 15 10 5 0 Attritio R ! t" Wi#ro B i$B ! % ! !r LG

Fig*re 1= M Bar <rap# S#owing a%%ri%ion ra%e o) 0ipro, Big Ba2aar and /<

2. #'in re'son for 'ttrition


In 0ipro, Training and de$elopmen%4 DEI i! %#e main rea!on, in Big Ba2aar4 !%re!! )rom o$erwor"4 ?=I i! %#e main rea!on and in /<4 Pa and 'ene)i% 4?EI i! %#e main rea!on )or a%%ri%ion+
*0 )0 (0 50 '0 &0 20 10 0

Wi#ro Bi$ B!% !!r LG

Tr!i i $ ! + D ","-o#. "t

P!y ! + B" "/it

Fig*re 1? M Bar <rap# S#owing main rea!on )or a%%ri%ion in 0ipro, Big Ba2aar and /<

3. etention str'te)y of job s'tisf'ction


In 0ipro, Re%en%ion !%ra%eg o) &o' !a%i!)a(%ion i! =I, in Big Ba2aar D+7I and in /< ?+6I+

Page | D1 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

0 * ) ( 5 ' & 2 1 0

Wi#ro B i$B ! %! !r L G

1o23! ti3/! 4tio

Fig*re 1@ M Bar <rap# S#owing re%en%ion !%ra%eg o) &o' !a%i!)a(%ion in 0ipro, Big Ba2aar and /<

2. etention str'te)y of -or9 environ*ent


In 0ipro, Re%en%ion !%ra%eg o) wor" en$ironmen% i! 8I, in Big Ba2aar4 i! ?I and in /< i! =I+
( 5 ' & 2 1 0 Wor5 " ,iro . "t Wi#ro B i$B !%! ! r L G

Fig*re 1D M Bar <rap# S#owing re%en%ion !%ra%eg o) wor" en$ironmen% in 0ipro, Big Ba2aar and /<

4. etention str'te)y of Tr'inin) 'nd Deve+o,*ent

Page | D6 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

In 0ipro, Re%en%ion !%ra%eg o) %raining and de$elopmen% i! 1@I , in Big Ba2aar i! 16+7I and /< i! D+8I+ 1* 1( 1' 12 10 * ( ' 2 0 Tr!i i $! + D", "-o#. "t

W i#ro B i$B !%!!r L G

Fig*re 1F M Bar <rap# S#owing re%en%ion !%ra%eg o) Training and de$elopmen% in 0ipro, Big Ba2aar and /<

5. etention str'te)y of c'reer )ro-t(


In 0ipro, Re%en%ion !%ra%eg o) (arrer grow%# i! 1=I, in Big Ba2aar i! 1@+DI and in /< i! 1EI+
1* 1( 1' 12 10 * ( ' 2 0

W i#ro Bi$B! %!!r L G

C !r""r Gro67

Fig*re 6E M Bar <rap# S#owing re%en%ion !%ra%eg o) >areer grow%# in 0ipro, Big Ba2aar and /<

A. etention str'te)y of P'y 'nd benefit


Page | D7 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

In 0ipro, Re%en%ion !%ra%eg o) pa and 'ene)i% i! 1FI , in Big Ba2aar i! 6=I and in /< i! 1DI+

2 5 2 0 1 5 1 0 5 0 #! y! + 2" "/it Wi#ro B i$B !%! !r L G

Fig*re 61 M Bar <rap# S#owing re%en%ion !%ra%eg o) Pa and Bene)i% in 0ipro, Big Ba2aar and /<

B. etention str'te)y of

eferr'+ sc(e*e

In 0ipro, Re%en%ion !%ra%eg o) Re)erral !(#eme i! 7=I, in Big Ba2aar i! 7DI and /< i! 8EI+
'0 &0 &* &) &( &5 &' && &2

W i#ro B i$B !% !!r LG

R "/"rr!3 47". "

Fig*re 66 M Bar <rap# S#owing re%en%ion !%ra%eg o) Re)erral S(#eme in 0ipro, Big Ba2aar and /<

D. 7(ic( ty,e of incentives is best *otiv'tion for e*,+oyees I


In 0ipro, ?=I o) emplo ee! are mo%i$a%ed ' mone%ar in(en%i$e!, 6=I o) emplo ee! are )rom non mone%ar in(en%i$e! , and 1EI o) emplo ee! )rom 'o%#+

Page | D8 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

In Big Ba2aar, DEI o) emplo ee! are mo%i$a%ed ' mone%ar in(en%i$e!, =I o) emplo ee! are )rom non mone%ar in(en%i$e! , and 1=I o) emplo ee! )rom 'o%#+ In /<, @=I o) emplo ee! are mo%i$a%ed ' mone%ar in(en%i$e!, 1=I o) emplo ee! are )rom non mone%ar in(en%i$e! , and 1EI o) emplo ee! )rom 'o%#+

*0 )0 (0 50 '0 &0 20 10 0 Wi#ro B i$B ! %! ! r LG Mo "t! ry No .o "t! ry B ot7

Fig*re 67 M Bar <rap# S#owing w#i(# % pe o) in(en%i$e! i! 'e!% mo%i$a%or )or emplo ee! in 0ipro, Big Ba2aar and /<

1E. S'tisf'ction +eve+ of E*,+oyees


In 0ipro,!a%i!)a(%ion le$el o) emplo ee! i! DEI, in Big Ba2aar i! ==I and in /< i! @=I+

*0 )0 (0 50 '0 &0 20 10 0 S !ti3 /!4tio -","- o/ ". #-oy""3

W i#ro B i$B !%!!r LG

Fig*re 68 M Bar <rap# S#owing !a%i!)a(%ion le$el o) emplo ee! in 0ipro, Big Ba2aar and /<

Page | D= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

C8APTER 9 5 CONCLUSION AND RECOMMENDATI ONS


Page | D? BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

4.1

FI6DI6%S OF T"E STUDY

A%%ri%ion ra%e o) Big Ba2aar i! 6=I, 0ipro i! 6E+7I and /< i! 1EI+ Big Ba2aar #a! more a%%ri%ion ra%e+ Main rea!on )or a%%ri%ion in Big Ba2aar i! S%re!!, in 0ipro i! Training and De$elopmen% and in /< i! Pa and Bene)i%+ In re!pe(% o) Re%en%ion !%ra%eg o) &o' !a%i!)a(%ion , D+7I o) emplo ee! o) Big Ba2aar are !a%i!)ied , in 0ipro =I o) emplo ee! are !a%i!)ied and in /< ?+6I o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) wor" en$ironmen%, ?I o) emplo ee! o) Big Ba2aar are !a%i!)ied , in 0ipro 8I o) emplo ee! are !a%i!)ied and in /< =I o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) Training and De$elopmen%, 16+7I o) emplo ee! o) Big Ba2aar are !a%i!)ied , in 0ipro 1@I o) emplo ee! are !a%i!)ied and in /< D+8I o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) >arrer grow%#, 1@+DI o) emplo ee! o) Big Ba2aar are !a%i!)ied, in 0ipro 1=I o) emplo ee! are !a%i!)ied and in /< 1EI o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) Pa and Bene)i%, 6=I o) emplo ee! o) Big Ba2aar are !a%i!)ied, in 0ipro 1FI o) emplo ee! are !a%i!)ied and in /< 1DI o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) Re)erral !(#eme, 7DI o) emplo ee! o) Big Ba2aar are !a%i!)ied, in 0ipro 7=I o) emplo ee! are !a%i!)ied and in /< 8EI o) emplo ee! are !a%i!)ied+ In re!pe(% o) Re%en%ion !%ra%eg o) Re)erral !(#eme, 7DI o) emplo ee! o) Big Ba2aar are !a%i!)ied, in 0ipro 7=I o) emplo ee! are !a%i!)ied and in /< 8EI o) emplo ee! are !a%i!)ied+ I% i! o'!er$ed %#a% in Big Ba2aar DEI o) emplo ee! are mo%i$a%ed wi%# mone%ar reward!, =I o) emplo ee! wi%# non mone%ar reward! and 1=I o) emplo ee! wi%# 'o%#+ Page | D@ BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

In 0IPRO, ?=I o) emplo ee! are mo%i$a%ed wi%# mone%ar reward!, 6=I o) emplo ee! wi%# non mone%ar and 1EI o) emplo ee! wi%# 'o%#+ In /<, @=I o) emplo ee! are mo%i$a%ed wi%# mone%ar reward!, 1=I o) emplo ee! wi%# non mone%ar and 1EI o) emplo ee! wi%# 'o%#+ In Big Ba2aar ==I o) emplo ee! are !a%i!)ied wi%# %#eir &o'!, in 0ipro DEI o) emplo ee! are !a%i!)ied wi%# %#eir &o'! and in /< @=I o) Emplo ee! are !a%i!)ied wi%# %#eir &o'!+

4.2

Su))estions For et'inin) E*,+oyees

Emplo ee re(ogni%ion (an 'e a! !imple or a! e3%ra$agan% a! one de!ire+ T#e )ollowing i! a !#or% li!% o) !imple wa ! %o re(ogni2e %eam mem'er! )or a &o' well done and impro$e re%en%ion in o*r organi2a%ion A 'e%%er e3i% in%er$iew )orm and pro(ed*re (an 'e dra)%ed !o %#a% emplo ee! ge% a (#an(e %o %al" wi%# %#e managemen% a'o*% %#e rea!on! w# %#e are lea$ing+ A !imple :%#an" o*: or :ni(e &o': gi$en in reg*lar )re-*en( (an !igni)i(an%l 'oo!% %eam morale+ O)%en %ime! a %eam mem'er will grea%l appre(ia%e %#e %ime o* !pen% %o )ind #im a% #i! de!" and deli$er %#e me!!age in per!on+ Send a %#an" o* (ard or e4(ard+ Al!o p#o%o(op %#e %#an" o* and do(*men% %#e rea!on )or %#e re(ogni%ion in %#e emplo eeC! )ile+ /e% %#e emplo ee "now o* did %#i! 4 i% will le% #er "now %#a% #er #ard wor" will no% 'e )orgo%%en+ Mo$ie %i("e%!, gi)% (er%i)i(a%e!, or an engra$ed gi)% are e3(ellen% reward! )or an emplo ee w#o #a! e3(elled or p*% in %#e e3%ra e))or% %o ma"e a pro&e(% #appen+ Re(ogni2e %#e %eam mem'erC! (on%ri'*%ion in )ron% o) mem'er! o) managemen%+ T#i! (an red*(e %#e %enden( )or emplo ee! %o )eel %#a% %#eir !*per$i!or! %a"e all %#e (redi% )or %#eir #ard wor"+ Re(ogni2e lo al% and e3(eeding e3pe(%a%ion!+ Men%ion %#e %eam mem'erC! #ire anni$er!ar , large (on%ra(% won, or !*rpa!!ing o) a !ale! goal in %#e (ompan new!le%%er or a% a !%a)) mee%ing+ &#Y D!Y.1 E$er wee" %#e emplo ee (an #a$e one Nm da O, i+e+ )or one da a wee" %#e (an #a$e %#eir own %ime awa )rom wor" a)%er 1+7E pm+

Page | DD BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

!nnu'+ D'y ; A da in a ear (an 'e dedi(a%ed a! a ann*al da w#ere we will 'e (ele'ra%ing %#e o$erall !*((e!! and a(#ie$emen%! o) %#e (ompan and e$er emplo ee (an 'e gi$en a gi)% $o*(#er, /*n(# a% !ome good #o%el and a )*n %o*r+ Ann*all we (an #a$e in%erdepar%men%al ma%(#e! li"e >ri("e% Ma%(#e!, Holle 'all Ma%(#e! e%( %o impro$e %eam '*ilding and )eeling o) 'elongingne!!+ De,'rt*ent'+ $unc(0 E$er mon%# one dep% (an #a$e l*n(# %oge%#er+ Ea(# and e$er mem'er o) %#e Dep% ea%! and drin"! %oge%#er w#i(# #elp! in impro$ing %#e %eam !piri% and %#e )eeling o) 'elongingne!! in %#e dep%

Emplo ee o) %#e mon%#4 !7! D %#eir name! are de(lared on %#e No%i(e 'oard w#i(# en(o*rage! o%#er! al!o %o wor" 'e%%er+ 0e (an #a$e a!" (ompan %o i!!*e a mon%#l or -*ar%erl or #al) earl maga2ine w#i(# (an #a$e all %#e de%ail! o) %#e a(#ie$emen%! o) %#e (ompan and emplo ee! (rea%i$e !"ill! (an 'e gi$en a (#an(e+ Emp#a!i! (an 'e gi$en on "I%"E EDUC!TIO6 and al!o on (arrier de$elopmen% program! w#i(# (an 'e done on ann*all 'a!i! )or w#i(# (ompan (an pa + A 'ond (an 'e !igned ' %#e emplo ee! w#o are going )or #ig#er ed*(a%ion or de$elopmen% !"ill! w#o!e )ee i! 'orne ' %#e (ompan + S%r*(%*red (areer planning pro(e!! (an de$eloped !o %#a% emplo ee! "eep %#eir in%ere!% in %#e organi2a%ion onl + Earl re!pon!i'ili%ie! in (areer (an 'e gi$en %o %#e emplo ee! !o %#a% %#e remain engage and dedi(a%ed %oward! %#e (ompan More Fle3i'le and %ran!paren% organi2a%ional (*l%*re !#o*ld 'e de$eloped+ More Freedom %o opera%e a% wor" !#o*ld 'e gi$en and more power! (an 'e delega%ed !o a! %o ma"e wor" more (#allenging+ Organi2a%ion !#o*ld 'elie$e in N<rowing o*r own %im'erO and promo%ion! and $a(an% po!i%ion !#o*ld 'e done in%ernall or pre)eren(e (an 'e gi$en %o e3i!%ing emplo ee!+ Inno$a%i$e people program w#i(# mean! emplo ee! !#o*ld 'e gi$en a (#an(e %o inno$a%e new mar"e%ing !ale! )inan(ial e%( programme! ! !%em or !%r*(%*re+ Page | DF BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

>#allenging wor" a!!ignmen%! !#o*ld 'e pro$ided and a!!igned %o %#e emplo ee! w#i(# (an 'e a d*mm or pilo% pro&e(% or ma 'e a (ri!i! !i%*a%ion Regional le$el mar"e%ing (ompe%i%ion (an 'e organi2ed %o en(o*rage and di!pla (rea%i$e and inno$a%i$e !"ill!+ %#ere

4.3

eco**end'tions

1. Deve+o, 'n 'ttr'ctive e*,+oyee v'+ue ,ro,osition.


An emplo ee $al*e propo!i%ion mean! %#a% o*r (ompan #a! !ome%#ing a%%ra(%i$e %o o))er %#a% i! per(ei$ed a! $al*a'le %o an emplo ee+ a! an emplo er, o* m*!% *nder!%and w#a% ma"e! o*r organi2a%ion a%%ra(%i$e %o po%en%ial re(r*i%! and (*rren% emplo ee!+ Branding o*r!el) a! an emplo er o) (#oi(e i! no% &*!% a !li(" !e% o) mar"e%ing %a(%i(!+

2. Cre'te ' tot'+ re-'rd structure t('t inc+udes *ore t('n co*,ens'tion.
E$er (ompan !#o*ld #a$e all %#e normal (ompen!a%ion me(#ani!m! (ommon %o %#eir % pe o) emplo men%+ e%, %o%al reward! pa("age! go )ar 'e ond mone + 0#ile mone mig#% %emporaril re%ain emplo ee!, i% doe! no% alwa ! e-*a%e wi%# engagemen%+ People wan% a (#an(e %o ma"e a di))eren(e and reali2e %#em!el$e!+ T#a% !el)4reali2a%ion i! m*l%i4dimen!ional and di))eren% )or ea(# emplo ee+ T#e %o%al reward !%r*(%*re !#o*ld in(l*de, in addi%ion %o (ompen!a%ion, !*ppor% )or emplo ee! %o a%%ain %#eir per!onal o'&e(%i$e! aligned wi%# %#e goal! o) %#eir organi2a%ion+

3. %ive feedb'c9 on e*,+oyee ,erfor*'nce on ' re)u+'r b'sis.


Mo!% manager! and emplo ee! are no% enamored wi%# %#e per)orman(e apprai!al pro(e!! in %#eir organi2a%ion+ e%, an e))e(%i$e per)orman(e managemen% pro(e!! !er$e! man p*rpo!e!+ Ongoing per)orman(e )eed'a(" allow! emplo ee! %o 'e%%er "now w#ere %#e !%and, gi$e! %#em a )ormal mean! %o pro$ide inp*%, indi(a%e! %#a% %#eir manager! pa a%%en%ion %o %#em and %#a% %#eir per)orman(e ma%%er!+ T#i! )eed'a(" (on%ri'*%e! %o emplo ee engagemen% and re%en%ion+ Page | FE BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

2. He f+eFib+e in ter*s of -or91+ife b'+'nce. 0or"er! more and more $al*e a 'alan(e
'e%ween wor" and li)e+ T#e wan% more )le3i'le wa ! %o engage wi%# %#eir emplo er+ To a%%ra(% and re%ain wor"er! wi%# di))eren% wor" and (areer e3pe(%a%ion!, organi2a%ion! #a$e %o 'e more )le3i'le in !%r*(%*ring wor" and i%! e3pe(%a%ion!+ I% (all! )or a di))eren% managerial mind!e% and pra(%i(e! %#a% in$ol$e le%%ing go o) old wa ! o) (on%rolling wor"er!, %ime and a%%endan(e in )a$or o) re!*l% (ri%eria !*(# a! o*%p*%, prod*(%i$i% and -*ali% +

4. Cre'te ' cu+ture of en)')e*ent. Emplo ee! #a$e 'e(ome more (onne(%ed wi%# o%#er!
in %#e organi2a%ion %#ro*g# pro&e(%4'a!ed %eam wor" and pro(e!! managemen% a(%i$i%ie!+ Emplo ee! are !#i)%ing %#eir lo al% %o people, %eam! and pro&e(%! and awa )rom (ompan lo al% + I% i! organi2a%ion! %#a% (rea%e %#e (*l%*re and (lima%e %#a% allow people, pro(e!!e! and pro&e(%! %o 'e(ome )*ll (onne(%ed and engaged wi%# one ano%#er+ Engaged emplo ee! are more li"el %o !%a wi%# %#eir emplo er+

5. Tr'in *'n')ers to be effective. E3i% in%er$iew! (on!i!%en%l !#ow %#a% Npoor and 'adO
managemen% pra(%i(e! grea%l (on%ri'*%e %o an emplo ee,! de(i!ion %o lea$e a (ompan + I% i! impera%i$e %o pro$ide !*per$i!or! and manager! wi%# ade-*a%e %ool! %o 'e(ome e))e(%i$e manager! !in(e we (anno% a!!*me %#a% %#e!e (ompe%en(ie! are inna%e+

A. !void ne)'tive ,eo,+e 'nd )ossi, 4 Find (owor"er! o* li"e and en&o !pend o*r
%ime wi%# %#em+

B. T'9e es,onsibi+ity for 9no-in) -('t is "',,enin) 't -or94People (omplain


%#a% %#e don,% re(ei$e eno*g# (omm*ni(a%ion and in)orma%ion a'o*% w#a% i! #appening wi%# %#eir (ompan , %#eir depar%men%! pro&e(%! or %#eir (owor"er!+ Pa!!i$e $e!!el!, %#e wai% )or %#e 'o!! %o )ill %#em *p wi%# "nowledge+ Be(a*!e %#e 'o!! i! '*! doing #er &o' and !#e doe!,% "now w#a% o* don,% "now+ See" o*% %#e in)orma%ion o* need %o wor" e))e(%i$el + A!!er%i$el re-*e!% a wee"l mee%ing wi%# o*r 'o!! and a!" -*e!%ion! %o learn+

D. #'9e On+y Co**it*ents you c'n /ee,4One o) %#e mo!% !erio*! (a*!e! o) wor"
!%re!! and *n#appine!! i! )eeling %o "eep (ommi%men%!+ >rea%e a ! !%em o) organi2a%ion and planning %#a% ena'le! o* %o a!!e!! o*r wor", %#in" a'o*% impro$ing and ma"ing a !in(ere (on%ri'*%ion+ T#en a!" o*r 'o!! )or )eed'a("+

1E.Pr'ctice Profession'+ Cour')e4Lo*,$e ne$er 'een %rained %o par%i(ipa%e in meaning)*l


(on)li(%, !o o* %#in" o) (on)li(% a! !(ar , #arm)*l, and #*r%)*l+ >on)li(% (an 'e all %#reeG done Page | F1 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

well, (on)li(% (an al!o #elp o* a((ompli!# o*r wor" mi!!ion and o*r per!onal $i!ion+ >on)li(% (an #elp o* !er$e (*!%omer and (rea%e !*((e!!)*l prod*(%!+

4.2
%#e organi2a%ion+

$I#IT!TIO6 OF T"E STUDY

1. T#e )inding! and (on(l*!ion! drawn o*% o) %#e !%*d will re)le(% onl e3i!%ing %rend! in 2. T#e )inding! o) %#e !%*d are !*'&e(%ed %o 'ia! and pre&*di(e o) %#e re!ponden%!+ 3. T#e a((*ra( o) )inding! i! limi%ed ' %#e a((*ra( o) !%a%i!%i(al %ool! *!ed )or anal !i!+ 2. Finding! o) %#e re!ear(# ma (#ange d*e %o area, demograp# , age (ondi%ion o) e(onom
e%(+

4. Time i! $er !#or% )or re!ear(#, !o %#i! i! $er di))i(*l% %o ge% %#e "nowledge a'o*%
e$er %#ing+

Page | F6 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

4.4

Conc+usion

Re%en%ion i! an impor%an% (on(ep% %#a% #a! 'een re(ei$ing (on!idera'le a%%en%ion )rom a(ademi(ian!, re!ear(#er! and pra(%i(ing HR manager!+ In i%! e!!en(e, Re%en%ion (ompri!e! impor%an% elemen%! !*(# a! %#e need or (on%en%, !ear(# and (#oi(e o) !%ra%egie!, goal4dire(%ed 'e#a$io*r, !o(ial (ompari!on o) reward! rein)or(emen%, and per)orman(e4!a%i!)a(%ion+ T#e in(rea!ing a%%en%ion paid %oward! Re%en%ion i! &*!%i)ied 'e(a*!e o) !e$eral rea!on!+ Mo%i$a%ed emplo ee! (ome o*% wi%# new wa ! o) doing &o'!+ T#e are -*ali% orien%ed+ T#e are more prod*(%i$e+ T pe! o) en$ironmen% %#e emplo ee need! in an organi2a%ion

$e'rnin) environ*ent1 I% in(l*de! (on%in*o*! learning and impro$emen% o) %#e


indi$id*al, (er%i)i(a%ion! and pro$i!ion )or #ig#er !%*die!, e%(+

Su,,ort environ*ent1 Organi2a%ion (an pro$ide !*ppor% in %#e )orm o) wor"4li)e


'alan(e+ 0or" li)e 'alan(e in(l*de!1 Fle3i'le #o*r! Tele(omm*%ing Dependen% (are Al%erna%e wor" !(#ed*le! Ha(a%ion! 0ellne!!

Page | F7 BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

7or9 environ*ent1 I% in(l*de! e))i(ien% manager!, !*ppor%i$e (o4wor"er!,


(#allenging wor", in$ol$emen% in de(i!ion4ma"ing, (lari% o) wor" and re!pon!i'ili%ie!

and re(ogni%ion+ /a(" or a'!en(e o) !*(# en$ironmen% p*!#e! emplo ee! %o loo" )or new
oppor%*ni%ie!+ T#e en$ironmen% !#o*ld 'e !*(# %#a% %#e emplo ee )eel! (onne(%ed %o %#e organi2a%ion in e$er re!pe(%+ <row%# and >areer <row%# and de$elopmen% are %#e in%egral par% o) e$er indi$id*al,! (areer+ I) an emplo ee (an no% )ore!ee #i! pa%# o) (areer de$elopmen% in #i! (*rren% organi2a%ion, %#ere are (#an(e! %#a% #e,ll lea$e %#e organi2a%ion a! !oon a! #e ge%! an oppor%*ni% + T#e impor%an% )a(%or! in emplo ee grow%# %#a% an emplo ee loo"! )or #im!el) are1

7or9 ,rofi+e1 T#e wor" pro)ile on w#i(# %#e emplo ee i! wor"ing !#o*ld 'e in ! n(
wi%# #i! (apa'ili%ie!+ T#e pro)ile !#o*ld no% 'e %oo low or %oo #ig#+

Person'+ )ro-t( 'nd dre'*s1 Emplo ee! re!pon!i'ili%ie! in %#e organi2a%ion


!#o*ld #elp #im a(#ie$e #i! per!onal goal! al!o+ Organi2a%ion! (anno% "eep a!ide %#e indi$id*al goal! o) emplo ee! and )o!%er organi2a%ion! goal!+ Emplo ee!, priori% i! %o wor" )or %#em!el$e! and la%er on (ome! %#e organi2a%ion+ I) #e,! no% !a%i!)ied wi%# #i! grow%#, #e,ll no% 'e a'le %o (on%ri'*%e in organi2a%ion grow%#+

Tr'inin) 'nd deve+o,*ent1 Emplo ee! !#o*ld 'e %rained and gi$en (#an(e %o
impro$e and en#an(e %#eir !"ill!+ Man emplo er! )ear %#a% i) %#e emplo ee! are well rained, %#e ,ll lea$e %#e organi2a%ion )or 'e%%er &o'!+ Organi2a%ion !#o*ld no% limi% %#e re!o*r(e! on w#i(# organi2a%ion,! !*((e!! depend!+ T#e!e %raining! (an 'e gi$en %o impro$e man !"ill! li"e1 >omm*ni(a%ion! !"ill! Te(#ni(al !"ill! In4#o*!e pro(e!!e! and pro(ed*re! impro$emen% rela%ed !"ill! or (*!%omer !a%i!)a(%ion rela%ed !"ill! !pe(ial pro&e(% rela%ed !"ill!

Need )or !*(# %raining! (an 'e re(ogni2ed )rom indi$id*al per)orman(e re$iew!, indi$id*al mee%ing!, emplo ee !a%i!)a(%ion !*r$e ! and ' 'eing in (on!%an% %o*(# wi%# %#e emplo ee!+

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Page | F= BHAI PARMANAND INSTITUTE OF BUSINESS STUDIES

Related Interests