A STUDY ON EMPLOYEE RETENTION AT HMT MACHINE TOOLS LTD KALAMASSERY A SUMMER PROJECT REPORT SUBMITTED BY Miss Vijaya R (REG 08PIT35) IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION IT ORGANISATION AND ADMINISTRATION UNDER THE GUIDANCE OF Miss Sasikala Devi‚ M B A AVINASHILINGAM SCHOOL OF MANAGEMENT
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one that we found to be universally salient‚ affecting multiple social service agencies on many organizational levels. Although each of us had a different professional background‚ an issue we have repeatedly observed surrounds the notion of employee retention within social service agencies. Too often we had felt the effects of rapid turnover rates and also witnessed the detriments of staff changes on client populations who may already be struggling with abandonment issues or disrupted attachment
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Questions for an exit interview • Tell me about how you’ve come to decide to leave? • What is your main reason for leaving? • What are the other reasons for your leaving? • Why is this important‚ or so significant for you? • Within the (particular reason to leave) what was it that concerned you particularly? • What could have been done early on to prevent the situation developing/provide a basis for you to stay with us? • How would you have preferred the situation(s)
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manager and crew tenure are relative to site-location factors in determining store-level financial performance. Recommend the most convenient alternative to increase employee retention: a.- Increasing wages b.- Bonus program c.- Training programs d.- Career development programs Financial impact of employee tenure The correlations of manager tenure (+0.44) and crew tenure (+0.26) with profits show that there is a clear positive financial effect of increasing tenure. Though
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increasing‚ this is threat to Wally’s company and it will fail to expand his strategies even will facing bankrupt in the future. Some argue that sometimes the employee turnover is good for weed out the lower level talent‚ but generally employee turnover is associated with cost (Anonymous 2008). Studies have shown that turnover rates can carry a price tag across the United States of $25 billion annually‚ with the cost of hiring and training an hourly worker at 300 to 700 times the worker’s hourly wage
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of Contents Introduction 3 Analysis 3 Employee Turnover 3 Employee Turnover Costs 4 Employee Retention 5 Employee Retention Strategies 5 Recommendations 6 Conclusion 6 References 7 Introduction The goal of this study is to understand employee turnover and its cost‚ employee retention and what are some Canadian company’s retention strategies to reduce high employee turnover rates. Analysis Employee Turnover Employee turnover is a ratio comparison of the number of
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Identified Undertaking the Challenges of Employee Retention in an Organisation TABLE OF CONTENTS 1. EXECUTIVE SUMMARY 5 2. INTRODUCTION 6 3. KEY FINDINGS AND ANALYSIS 7 4. CONCEPTUAL FRAMEWORK 8 5. RECOMMENDATIONS 9 6. BENEFITS TO BE DERIVED 12 7. CONCLUSION 13 8. REFERENCES 14 9. APPENDICES 16 Appendix 1 - Company’s Organisational Structure 16 Appendix 2 - Company’s Benchmark Score 17 Appendix 3 - Company’s Areas for Improvement 18 Appendix 4 - Employee Benchmark Survey Results - Category
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Identifying Importance of Retention The key strategy is to select from the new hires those with the best qualifications and also highly exemplify what is to be modeled as a representative of the business by whom they are employed. During the hiring process the employee is thoroughly vetted and briefed on what their job specifications will be‚ benefits and what expectations will be after they are hired. Once hired‚ the manager should be sure to identify employee goals‚ needs‚ and expectations.
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SELECTED RESEARCH PROBLEM 4.1 Statement of research problem: EMPLOYEE TURNOVER AND RETENTION IN LAW FIRMS. 4.2 Statement of research objectives: • What are employee turnover and retention? • Measuring turnover and retention • Why do people leave organisations? • Improving employee retention 4.3 Research design and methodology: • What are employee turnover and retention? Employee turnover Employee turnover refers to the proportion of employees who leave an organisation
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THE STUDY 1 CHAPTER I INTRODUCTION OF THE STUDY 1. Introduction The project work titled‚ “A Study on Employee Retention Techniques among employes in Salem District Milk Producers Union Limited”. The main objective of this study is to evaluate the employee turnover level of the company. Employee is not an economic factor but a total personality having his own feelings and a sense of responsibilities towards his family‚ the industry and the nation
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