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An Empirical Study on Employee Retention Strategies in a Biscuit
Manufacturing Company in India
S. R. Kavitha
Assistant Professor, Depatment of Management Studies
Saranathan College of Engineering,
Tiruchirappalli, Tamilnadu, South India
S. R. Geetha
Depatment of Management Studies
Final year Student, Bharathidasan University,
Tiruchirappalli, Tamilnadu, South India,
V.Arunachalam
Manager, Indian Overseas Bank, Madurapuri, Tamilnadu, South India,

Abstract
This paper aims at developing insight on how employee retention is relevant in present
business context. Retention is more important than hiring. There is no dearth of
opportunities for talented person. There are many organizations which are looking for
such employees. This study reveals that, treating employees with respect and dignity is
critical to retaining good workers, especially in a better job market. A managements
failure to demonstrate respect to employees is the main reason for them to leave their
jobs, and hence recognition of employees achievements, encouraging innovation,
handling their complaints fairly rewarding them for jobs well done is some of the ways
for employers to show workers respect and retain them. The researcher carried out the
study with the objectives of finding out various factors influencing the employee
towards retention in a biscuit manufacturing company in India. Primary data was
collected by the researcher with the help of structured questionnaire. Random sampling
method(lottery method) was absorbed by the researcher and the sample size was 102
middle level employees of that company has been taken for the study. To test the
reliability of the data collected, the researcher used cronbachs Alpha test and the value
is 0.930 which shows that the data has satisfactory reliability and validity. Using
Statistical Package for Social Science (SPSS) some of the relevant tests were carried out
like factor analysis and multiple regression. Based on these analysis some of the
relevant findings were derived, that will be useful, relevant and significant to the present
Indian scenario.
Keywords: Employee retention, strategies, career development
Introduction
With the labour market at its tightest in recent memory, the talk of the town seems to be
attracting top talent to a company. But what a company does to retain that talent, and
the talent it already employs, is arguably more important than attraction. In recent times,
employees retention has become one of the leading challenges for organization. Given
today's weak company loyalty, employees are increasingly "jumping ship" for better job
opportunities elsewhere. The issue isn't simply losing a key member of your team; there
is also the hassle-and cost-of replacement. It is obvious that employees retention is one
of the most pressing issues that Human Resource Professionals face today.
Organizations have come to realize the critical strategic implications of losing their best
people. Employees turnover is assuming crisis proportions for many employers who
struggle to retain people in the tightest labour markets in recent memory. "Employee
retention is the conscious and deliberate effort to retain quality individuals on the
company payroll. Stated otherwise, it is the proactive methods utilized by successful

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organizations to stop the drain of company profits caused by excessive employee
turnover".
Among the many reasons organization care about retention, retention are the
direct and indirect costs linked to the loss of talented employees. In a number of studies
human resources managers have estimated the cost of turnover to vary between 50%
and 500% of the departing employees annual salary, depending on job level, industry
and geography potentially one of the largest costs of turnover, and perhaps the most
over looked, is the lost future potential of the brightest and best who often are the ones
to leave. Another, more insidious costs of turnover involves the sharing of a companys
method, technology and clients with competitors who may have hired the employees
away. As a companys success becomes increasingly dependent on the knowledge
skills, abilities, and relationships of its employees. The financial impact of losing
talented employees will continue to rise.
Literature Review
The literature clearly indicated that there are six keys to retaining personnel. They are
recruiting, communications, training, job satisfaction, pay, and benefits.
The effort to retain the best personnel begins with recruiting. Attracting and retaining the
best People are not two different things, but is the same thing. Both require creating and
maintaining a positive reputation, internally as well as externally. Employers must be
honest with the recruit about the beliefs, expectations, organizational culture, demands,
and opportunities within the organization. By representing the organization realistically,
a department will attract those who will be content working within the culture (Marx,
1995). Denton (1992, p.47) follows this up by stating that, the better the match
between recruits and the organization the more likely you are to retain them. Lynn
(1997) believes that you must take time during the hiring process to make wise decisions.
The employer must be candid about the working conditions, responsibilities,
opportunities and other details to reduce the chances of making hiring mistakes. Taylor
and Cosenza (1997) strengthen this thought by noting that it is imperative that companies
give prospective employees a true picture of the organization, if they hope to match the
personality type with the climate and culture of the organization.
Carney (1998) believes that the key to employee retention is quit e simple: communicate,
communicate, and communicate. Communication with the employees must begin early
on in the relationship. He believes that the imprinting period of a new employee is
probably less than two weeks. Employers must engage the employee early on by sharing
how important the job they do is. Lynn (1997) follows this up by stating that early on an
atmosphere of fairness and openness must be created by clearly laying out company
policies. Taylor and Consenza (1997) indicate that it is important to communicate the
values of the organization to its employees in order to increase their level of consent,
participation, and motivation. Lynn (1997) echoes this thought by pointing out that the
vision of the organization must be shared with the employee as well as the importance
the employees play in helping fulfil it. Lack of communication may result gaps between
managements perceptions of quality employment and the employees desired and
perceived quality of employment (Taylor & Consenza, 1997). There must be a common
purpose and trust among employees. People want to feel as if they are a vital piece of
something larger (Carney, 1998). As Denton (1992) points out, managers must make
sure employees know what they should do and why it is important. Lynn (1997) notes
that communications must be a two way street to be effective. Employers must listen to
what employees have to say. An atmosphere must be created in which employees feel
comfortable making suggestions and trying our new ideas..
As was noted earlier it is important that the employee feel like a valued member of the
organization. Training helps underscore this message. Training personnel is a way to

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show you respect them and want them to grow. The department is making an investment
in the employee by offering training (Marx, 1995). Good training can de- emphasizes
salaries and benefits, in part by building a positive work environment and by giving
employees advancement opportunities (Lynn, 1997). Lynn goes on to say that training
helps strengthen employee loyalty. Training can help revitalize personnel. For an
increasing number of people, the chance to learn new skills is a significant personal goal
for both the career opportunities education can provide and for the chance to do
something a little different (Mendonsa, 1998).Training emphasizes to the employee that
they are valued and respected. This in turn to increased loyalty and retention.
While an organization must be competitive in terms of compensation and benefits, it is
the relationship with the supervisor that is often a crucial factor in determining whether a
person stays orgoes (Mendonsa, 1998). Employees want more interaction with
management, more self-satisfaction on the job, more responsibility and more control
over decisions affecting them. They want their work to make a difference and want to be
part of something that matters (Taylor, 1997).Departments should encourage innovation
by soliciting the advice and input of their staff members, followed by responses to ideas,
complaints or questions (Taylor, 1997). It is difficult to keep people on the job if they
have no say in how to do it (Spragins, 1992).People need to be recognized for their
accomplishments in the workplace. In most organizations the feeling of under-
recognition is the most pervasive feeling in the workplace (Mendonsa, 1998). Provide a
great deal of personal and team recognition (Carney, 1998). Recognize achievements
with memos, mentions in staff meetings or articles in the newspapers (Lynn, 1997) To
retain employees, departments must offer career advancement opportunities.
Departments failing to offer employees career opportunities, room for advancement and
enhancement of skills and knowledge may find it difficult to retain qualified employees
(Taylor, 1997). Marx (1995) concludes this by pointing out that promoting from within
is one of the proven methods of employee retention. Promoting from within shows that
there is truly room for advancement and growth within the department.
Employee involvement, recognition, importance of work, and career advancement
opportunities are all important, when dealing with employee retention.
In general people think that money and benefits or lack thereof, are the main reasons
people leave their jobs, but this is not the case. While compensation and benefits may be
a key factor in the final decision-making process, a money shortage is usually not what
causes people to look in the first place (Mendonsa, 1998).Money may be the reason they
give when they resign, but its like white noise. They are conscious of it for a while
but if they are bored on the job, money alone is not going to keep them there(Branch,
1998).Although traditional benefits such as vacation and health are still important,
todays workers are also looking for more non-traditional benefits. Benefits such as
flexible work ours, availability of child-care tuition assistance programs and discounts on
services now top the list of desired benefits (Denton, 1992).The literature clearly
indicates while still factors, money and benefits are not as important as job satisfaction in
terms of employee retention
The research conducted on the link between dissatisfaction with pay and voluntary
turnover appears to be inconclusive. Mobley et al (1979) concluded that results from
studies on the role of pay in turnover were mixed but that often there was no
relationship between pay and turnover. Other studies found no significant relationship.
On the other hand Campion (1991) cited in Tang suggests that the most important
reason for voluntary turnover is higher wages/career opportunity. Martin (2003)
investigates the determinants of labour turnover using establishment-level survey data
for the UK. Martin indicated that there is an inverse relationship between relative wages
and turnover (ie establishments with higher relative pay had lower turnover).

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Griffeth et al (2000) noted pay and pay-related variables have a modest effect on
turnover. Their analysis also included studies that examined the relationship between
pay, a persons performance and turnover. They concluded that when high performers
are insufficiently rewarded, they leave.
Methodology
Objectives
1. To know the effectiveness of employee retention program in a biscuit
manufacturing company in India
2. To examine the various factors that influence the employees towards retention.
Hypotheses
1) There is relationship among the factors that influences the employee towards
retention.
2) Exit interview and encouragement to higher education can predict the retention
of employees.
The present study aims at developing insight on how employee retention is relevant in
present business context. Due to various reasons the companies name was not disclosed
in the study. Primary data was collected by the researcher with the help of structured
questionnaire. Random sampling method (lottery method) was absorbed by the
researcher and the sample size was 102 middle level employees of that company
constitute the sample size for the study. To test the reliability of the data collected, the
researcher used cronbachs Alpha test and the value is 0.930 which shows that the data
has satisfactory reliability and validity. Using Statistical Package for Social Science
(SPSS) some of the relevant tests were carried out like factor analysis and multiple
regression.
Table 1: Reliability Statistics
Cronbach's Alpha N of Items
.930 28

The Cronbach's alpha values were calculated to assess the internal consistency of the
Questionnaire. Reliability refers to the confidence we can place on the measuring
instrument to give us the same numeric value when the measuring instrument is
repeated on the same object. For the Employee retention questionnaire, the Cronbach's
alpha value of .930 indicated adequate reliability.
FACTOR ANALYSIS
Hypothesis:
There exist relationships among the factors that influence the employee retention.
Table 2 : KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy.
.617
Approx. Chi-Square
1535.574
Df
378
Bartlett's Test of Sphericity
Sig.
.000
KMO measure of sampling adequacy is an index to examine the appropriateness of
factor analysis. High values 0.5 and 1.0 indicate factor analysis is appropriate. Values
below 0.5 imply that factor analysis may not be appropriate. From the above table it is

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seen that KaiserMeyerOlkin measure of sampling adequacy index is 0.617 and
hence the factor analysis is appropriate for the given data set. Bartletts Test of
Sphericity is used to uncorrelated. It is based on chi-square transformation of the
determinant of correlation matrix. A large value hypothesis in turn this would indicate
that factor analysis is appropriate. Bartletts test of Sphericity Chi-square statistics is
1535.574, that shows the 28 statements are correlated and hence as inferred in KMO,
factor analysis is appropriate for the given data set.
Table 3: Total Variance Explained

Component Initial Eigenvalues
Extraction Sums of Squared
Loadings
Rotation Sums of Squared
Loadings
Total
% of
Variance Cumulative % Total
% of
Variance
Cumulati
ve % Total
% of
Variance
Cumulative
%
1
10.480 37.428 37.428 10.480 37.428 37.428 3.724 13.300 13.300
2
2.454 8.765 46.193 2.454 8.765 46.193 3.625 12.945 26.245
3
1.788 6.385 52.578 1.788 6.385 52.578 2.894 10.337 36.582
4
1.597 5.704 58.282 1.597 5.704 58.282 2.712 9.684 46.266
5
1.469 5.248 63.529 1.469 5.248 63.529 2.705 9.662 55.928
6
1.327 4.740 68.269 1.327 4.740 68.269 2.205 7.874 63.802
7
1.137 4.060 72.329 1.137 4.060 72.329 1.810 6.464 70.266
8
1.043 3.727 76.056 1.043 3.727 76.056 1.621 5.789 76.056
9
.881 3.148 79.204
10
.783 2.798 82.002
11
.688 2.457 84.459
12
.613 2.188 86.647
13
.578 2.065 88.712
14
.479 1.709 90.421
15
.470 1.678 92.099
16
.418 1.492 93.591
17
.344 1.227 94.818
18
.289 1.032 95.849
19
.242 .865 96.714
20
.240 .857 97.571
21
.179 .639 98.210
22
.158 .564 98.774
23
.118 .421 99.195
24
.080 .287 99.482
25
.060 .213 99.694
26
.044 .159 99.853
27
.022 .077 99.930
28
.020 .070 100.000
Extraction Method: Principal Component Analysis.

Eigen value represents the total variance explained by each factor. Percentage of the
total variance attributed to each factor. One of the popular methods used in Exploratory
Factor Analysis is Principal Component Analysis, Where the total variance in the data is

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considered to determine the minimum number of factors that will account for maximum
variance of data.

Table 4: Rotated Component Matrix (a)

Component
1 2 3 4 5 6 7 8
Opportunities to learn and dev .757
Potential talents identified .546
Encouragement to higher education .600
Share knowledge through training .622
Responsibilities in career .824
Competitive compensation pattern .541
Fringe benefits par with market .752
Select potential and cultural fit
candidates
.534
Superior quality leadership .562
Superiors stand up for critical
situation
.835
Superiors providing coaching .598
Helps to strike balance .863
Corporate social responsibilities .625
Appreciation of good work .755
Realists exit interview .848
Merit based recruitment .599
Open and transparent
Administration
.602
Organisational values are practiced .583
Part of growing organisation .717
Fair and equitable treatment

Looking for talents and encourage
them
.558
Strong corporate governance and
citizenship
.690
Secured job .727
Adequate materials, computer, etc.. .529
Safe work environment .550
Opinion and feedback is valid .626
Cross functional team .828
Job enrichment .794
Extraction Method: Principal Component Analysis. Rotation Method: Varimax with Kaiser Normalization. A
Rotation converged in 21 iterations.




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Rotation Method: Varimax with Kaiser Normalization:
Interpretation of factors is facilitated by identifying the statements that have large
loadings in the same factor. The factor can be interpreted in terms of the statement that
loads high on it.
The factors of a study on employee retention programs comprises of 28
individual statements. Out of 28 factors, 8 individual factors contribute more towards
employee retention programs
1. Company helps to strike balance professional, personal, financial and social
life. In the organization exit interviews are realistic and unbiased.
2. Superiors are standing up for the team when they are facing with critical
situation.
3. Employees involving cross functional activities to get variety of exposures.
4. Employees getting early responsibilities in career.
5. Job enrichment.
6. Getting opportunities to learn and progress.
7. Appreciated for their good work done.
8. Fringe benefits like mediclaim, loan, bonus, gifts, paid holiday, picnics, etc.
9. Job is secured in my company
10. Getting opportunities to learn and progress.
11. Each and every employees involving part of growing organization.
Regression Anaysis
Hypothesis
Exit interview and encouragement to higher education can predict the retention of
employees.
Table 5: Model Summary
Model R R Square Adjusted R Square
Std. Error of the
Estimate
1
.921(a) .848 .745 .24203
a Predictors: (Constant), job enrichment, select potential and cultural fit candidates, share
knowledge through training, superiors stand up for critical situation, organisational values are
practiced, competitive compensation pattern, realists exit interview, opportunities to learn and
dev, encouragement to higher education, part of growing organisation, adequate
materials,computer,etc.., fringe benefits par with market, corporate social responsibilities, cross
functional team, superior quality leadership, open and transpent admini, superiors providing
coaching, safe work environment, merit based recruitment, opinion and feedback is valid,
secured job, potential talents identified, responsibilities in career, fair and equitable treatment,
strong corporate governance and citizenship, looking for talents and encourage them,
appreciation of good work, helps to strike balance

In the above model summary table shows R-Square for this model is 0.848 this means
that 84 percentage of the variation in overall retention programs of employees
(dependent variable) can be explained from the 28 independent variables. The table also
shows the adjusted R-square for the model as .481.

Any time another independent variable is added to a multiple regression model,
the R-square will increase (even if only slightly). Consequently, it becomes difficult to
determine which models do the best job of explaining variation in the same dependent
variable. The adjusted R-square does just what its name implies. It adjusts the R-square
by the number of predictor variables in the model. This adjustment allows the easy

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comparison of the explanatory power of models with different numbers of predictors
variable. It also helps us to decide how many variables to include in our regression
model.
Table 6: ANOVA (b)
Model
Sum of
Squares df Mean Square F Sig.
Regression
13.441 28 .480 8.195 .000(a)
Residual
2.402 41 .059
1
Total
15.843 69

a Predictors: (Constant), job enrichment, select potential and cultural fit candidates, share knowledge
through training, superiors stand up for critical situation, organisational values are practiced, competitive
compensation pattern, realists exit interview, opportunities to learn and dev, encouragement to higher
education, part of growing organisation, adequate materials,computer,etc.., fringe benefits par with market,
corporate social responsibilities, cross functional team, superior quality leadership, open and transpent
admini, superiors providing coaching, safe work environment, merit based recruitment, opinion and
feedback is valid, secured job, potential talents identified, responsibilities in career, fair and equitable
treatment, strong corporate governance and citizenship, looking for talents and encourage them,
appreciation of good work, helps to strike balance
b Dependent Variable: employee satisfaction


The ANOVA table, as displayed in the above table 38 shows the F ratio for the
regression model that indicates the statistical significance of the overall regression
model. The larger the F ratio there will be more variance in the dependent variable that
is associated with the independent variable. The F ratio =8.195. The statistical
significance is .000- the sig. So reject the null hypothesis. There is relationship
between independent and dependent variables

Table 7: Coefficients (a)
Model
Unstandardized
Coefficients
Standardized
Coefficients t Sig.
B Std. Error Beta
1 (Constant)
.546 .570 .958 .344
Opportunities to learn and dev
-.155 .141 -.162 -1.098 .279
Potential talents identified
.004 .136 .005 .026 .979
Encouragement to higher
education
.228 .115 .294 1.991 .053
Share knowledge through
training
.226 .136 .275 1.664 .104
Responsibilities in career
-.034 .099 -.054 -.340 .736
Competitive compensation
pattern
.057 .051 .109 1.114 .272
Fringe benefits par with market
.023 .100 .028 .227 .822
Select potential and cultural fit
candidates
-.035 .102 -.043 -.339 .736
Superior quality leadership
.114 .107 .121 1.062 .295
Superiors stand up for critical
situation
-.061 .105 -.076 -.583 .563
Superiors providing coaching
.111 .110 .135 1.004 .321
Helps to strike balance
-.001 .129 -.002 -.009 .993

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Corporate social
responsibilities
.106 .075 .162 1.418 .164
Appreciation of good work
-.036 .213 -.039 -.169 .866
Realists exit interview
.185 .105 .344 1.766 .085
Merit based recruitment
.080 .132 .084 .601 .551
Open and transparent admini
-.085 .136 -.122 -.629 .533
Organisational values are
practiced
.024 .104 .031 .227 .822
Part of growing organisation
.086 .133 .093 .645 .522
Fair and equitable treatment
.046 .095 .075 .477 .636
Looking for talents and
encourage them
.233 .177 .268 1.319 .194
Strong corporate governance
and citizenship
-.138 .144 -.176 -.956 .345
Secured job
.019 .117 .027 .165 .870
Adequate
materials,computer,etc..
-.082 .118 -.133 -.696 .490
Safe work environment
-.228 .105 -.306 -2.173 .036
Opinion and feedback is valid .101 .143 .135 .703 .486
Cross functional team
.121 .084 .209 1.439 .158
Job enrichment
.023 .102 .036 .223 .825
A Dependent Variable:overall employee retention


To determine if one or more of the independent variables are significant predictors of
overall satisfaction of employee retention programs, we examine the information
provided in the coefficient table. The standardized coefficient beta column reveals that
opportunities to learn and development has a beta coefficient (-162), which is not
significant (.279). potential talents identified has a beta coefficient( .005), which is not
significant (.979). Encouragement to higher education has a beta coefficient (.294),
which is not significant (.053).share knowledge through training has a beta coefficient
(.275), which is not significant (.104). Responsibilities in career has beta significant (-
054), which is not significant (.736). Competitive compensation pattern has beta
coefficient (.109), which is not significant (.272). Fringe benefits par with market has a
beta coefficient (028), which is not significant (.822). select potential and cultural fit
candidate has a beta coefficient (.-043), which is not a significant (.736). superior
quality leadership has a beta coefficient (-121), which is not significant (295). Superiors
stand up for critical situation has a beta coefficient (-076), which is not significant
(.563). superiors providing coaching have a beta coefficient (.135), which is not
significant (.321). Helps to strike balance has a beta coefficient (-002), which is not
significant (.993). A corporate social responsibility has a beta coefficient (.162), which
is not significant (.169). Appreciation of good work has a beta coefficient (-.039),
which is not significant (.866). Realists exit interview has a beta coefficient (.344),
which is not significant (.085). Merit based recruitment has a beta coefficient (.084),
which is no significant (.551). Open and transparent administration has beta coefficient
(-122), which is no significant (.533). organisational values are practiced has beta
coefficient (.031), which is not significant (.822). Part of growing organisation has beta
coefficient (-.093), which is not significant (.522). Fair and equitable treatment has beta
coefficient (.075), which is not significant (.636). Looking for talents and encourage
them has beta coefficient (.268), which is no significant (.194). strong corporate
governance and citizenship has beta coefficient (-176), which is not significant (.345).

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secured job (.027), which is not significant (.870). adequate materials,computer,etc.. has
beta coefficient (-133), which is not significant (.490). Safe work environment has beta
coefficient (.306), which is not significant (.036). Opinion and feedback is valid has
beta coefficient (.135), which is no significant (.486). Cross functional team has beta
coefficient (.209), which is not significant (.158). Job enrichment (.036), which is not
significant (.825).
In the table shows that encouragement to higher education, share knowledge
through training, realists exit interview, looking for talents and encourage them,
cross functional team these are highly predictor variables in the employee retention
programs.

CONCLUSION
In the present scenario, identification of employee retention has become a crucial
element. In this study, it found that most of the employees are satisfied with the
organization. It is inferred that the predictor variables of overall employee retention
programs is encouraged for higher education, opportunities to share knowledge with
various methods, looking for talents and encourage them, and Cross functional team are
highly influenced by the employees. Certain factors like compensation pattern,
responsibility in career personal care is not appreciated when compared with other
factors. So the management can strategically design towards the employee needs with
regarding to retention programs.































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