1. 1 INTRODUCTION
1.1 INTRODUCTION TO THE TOPIC
In a human resources context, turnover or labor turnover is the rate at which an
employer gains and losses employees. Simple ways to describe it are "how long
employees tend to stay" or "the rate of traffic through the revolving door." Turnover is
measured for individual companies and for their industry as a whole. If an employer is
said to have a high turnover relative to its competitors, it means that employees of that
company have a shorter average tenure than those of other companies in the same
industry. High turnover can be harmful to a company's productivity if skilled workers
are often leaving and the worker population contains a high percentage of novice
workers.
In the best of worlds, employees would love their jobs, like their co-workers, work
hard for their employers, get paid well for their work ,have ample chances for
advancement and flexible schedules so they could attend to personal or family needs
when necessary. Specifically at Brokerage industry normally No of employees leaves
organization is always high.so For HR manger it is a big challenge to maintain the
attrition rate of their organization. HR Manager is not only required to fulfill this
Responsibility, but also find the right kind of people who can keep pace with the
unique work patterns in industry. The toughest concern for an HR Manager is
However the Attrition Rate.
Retaining employees is a critical and ongoing effort. One of the biggest challenges in
having managers in the place that understands it is their responsibility to create and
sustain an environment that fosters retention. Staff requires reinforcement, direction
and recognition to grow and remain satisfied in their positions. Managers must
recognize this and understand that establishing such fundamentals demonstrates their
objectives to support nature and motivate their employees.
“A reduction in the number of employees through retirement, resignation or death” In
the best of worlds, employees would love their job, like their coworkers, work hard for their
employers, get paid well for their work, have ample chances for advancement, and flexible
schedules so they could attend to personal or family needs when necessary and never leave.
2. But then there is the real world, and in the real world, employees, do leave, either because
they want more money, hate the working conditions, hate their coworkers, want a change, or
because their spouse get a dream job in another state.
This study is an outcome of the topic called “A Study on Employee Attrition and
Retention at Milma”.
1.2 OBJECTIVES OF THE STUDY
To know the satisfactory level of employees towards their job and
working condition.
To identify the factors which make employees dissatisfy about company’s
policy and norms.
To find the areas where companies is lagging behind.
To know the reasons, why attrition occurs in manufacturing industries in
Milma.
To fulfill the future needs and aspirations of the employees in the
organization.
To understand the rules and policies followed by the organization.
To take efforts and measures to improve the situation and condition of the
employee.
To bring out proper working between employees and organization to
improve company’s image.
1.3 SCOPE OF THE STUDY
To find the attrition rate for the current year and find the main reason for attrition in
Milma. To check the level of satisfaction and communication among Milma and
provide suggestions for improving employee retention. This study can help the
management to find the weaker parts of the employee feels towards the organization
and also helps in converting those weaker part in to stronger by providing the
optimum suggestions or solutions. This study has a wider for scope in any kind of
organization since “attrition” is general one and makes the employees to put forth
their practical difficulties and need factors in the organization. This study can help the
management to know for which the reason employees tend to change their job,
3. through dissatisfaction factors faced in the organization and also helps to recover by
providing the optimum suggestions or solutions.
1.4 RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the research problem. It may
be understood as a science of studying how research is done scientifically. In it we
study steps that are generally adopted by a researcher in studying his research
problem along with the logic behind them.
1.4.2 METHOD OF DATA COLLECTION:
The data collected is divided into two namely primary data and secondary data. The
method and mode used for collecting these data are explained below.
PRIMARY DATA:
The primary data collection is the gathering of responses from the staffs which was
done by direct survey with the help of questionnaire.
SECONDARY DATA:
The secondary data is the information collected from the company’s official web
sites, books and HR portals for the project work.
1.4.3 RESEARCH INSTRUMENT:
The research instrument used for collecting the data is questionnaire.
Questionnaire:
The Questionnaire is prepared in an organized and thorough manner and reframed
accordingly after considering all the required aspects of the attrition analysis, using
last year’s data. The scale ranges from a score of 1 for ‘Strongly Agree’ to a score of
5 for ‘Strongly Disagree’.
Parameters used for the Survey
The factors which were taken into consideration for the attrition analysis survey are as
follows;
4. Employee morale
Career growth
Work Environment
Communication
Company Policies
Training
Communication
Overall satisfaction of the company
1.4.4. SAMPLING DESIGN:
Sample Size: Since the company required responses from all the ADMs and team
leaders, the sample size for individual.
1.5 LIMITATIONS OF THE STUDY
The first and the foremost short coming of the research is that the sample size
was very small.
The trainees did not return few of the questionnaires.
Few of the questionnaires were filled in haste.
Some of the team leaders feared giving responses pertaining to career growth,
as they felt that their information might reach their superiors. However on
promising their confidentiality of their views and responses, open and candid
opinions poured up.
Some of the respondents felt difficult in comprehending the questionnaire
especially those related to ordinal scale, which involved ranking factors as per
the importance. Thereby, it had to be rewo rked upon which time was
consuming.
As the figures and data of attrition, given by the company involved staff
transfers within the internal departments, the list had to be re-checked and
worked with the store HR.
5. Since the HR manger of one of the branches had just five months experience,
he had difficulty in collecting the past records viz. as the headcount of various
departments in different months.
1.6 CHAPTER SCHEME
First chapter deals with a brief introduction to the topic , objective of the study, scope
of the study ,research methodology, limitations of the study, chapter scheme. Second
chapter describes about the theoretical framework. The third chapter narrates about
the industrial profile of “A study on employee attrition and retention in Milma
industries”. fourth chapter deals with data analysis and interpretation of the study
and the chapter five consist of findings, suggestions and conclusions.
