Shivaji University, Kolhapur: YSPM's YTC, Satara
Shivaji University, Kolhapur: YSPM's YTC, Satara
Shivaji University, Kolhapur: YSPM's YTC, Satara
CHAPTER 1
employees in any organization. These can never be translated into profit when
attrition is high.
Effective employee retention is a systematic effort by employers to create and foster
an environment that encourages current employees to remain employed, by having
policies and practices in place that address their diverse needs. A strong retention
strategy, therefore, becomes a powerful recruitment tool. Retention of key employees
is critical to the long-term health and success of any organization. It is a known fact
that retaining the best employees ensures customer satisfaction, increased product
sales, satisfied colleagues and reporting staff, effective succession planning, and
deeply embedded organizational knowledge and learning. Employee retention matters
as organizational issues such as training time and investment, lost knowledge,
insecure employees, and a costly candidate search are involved. Hence, failing to
retain a key employee is a costly proposition for an organization. Various estimates
suggest that losing a middle manager in most organizations costs up to five times his
salary.
Intelligent employers always realize the importance of retaining the best talent.
Retaining talent has never been so important in the Indian scenario; however, things
have changed in recent years. In prominent Indian metros at least, there is no dearth
of opportunities for the best in the business, or even for the second or third best.
Retention of key employees and treating attrition troubles has never been so
important to companies.
1.1 Research Problem :
1) To study the reason why the attrition occurs and the possible way to reduce
it.
Analytical scope is related with use of different statistical tools. The study aimed to
find the feedback of employees regarding the attrition and retention in Mutha Group
of Foundries -H21.
1. Primary data
The primary data collected through the communication with the employees and the
actual work in the company.
2. Secondary Data
The secondary data collected through books, websites.
1.6 Chapterization: