A STUDY ON EMPLOYEE RETENTION IN PL.A GROUP OF COMPANIES

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Information about A STUDY ON EMPLOYEE RETENTION IN PL.A GROUP OF COMPANIES

Published on March 7, 2016

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1. 385 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) A STUDY A STUDY ON EMPLOYEE RETENTION IN PL.A GROUP OF COMPANIES Ms. M. Buela Rose Assistant Professor, Department of Management Studies, K. Ramakrishnan College of Engineering Samayapuram, Trichirappalli Ms. Leema Rose Student: I MBA, K. Ramakrishnan College of Engineering, Samayapuram, Trichirappalli ABSTRACT Employee retention is the foremost problem; which all organizations are now facing in the global competitive environment. In this conceptual paper, I have attempted to bring out some employee retention approaches, which have developed over a period of time. Retention strategies for knowledge workforce, for achieving competitive advantage are also highlighted. Employee Retention refers to the ability of the organization to retain its employees and it's emerging as a big challenge to organizations. Organization culture, pay and remuneration, flexibility and job satisfaction highly influence the retention rate for any company. Retention of employees is an important function of the HRM. Unless there is a deliberate and serious effort from the management towards this direction, the competitors in the industry are likely to attract and snatch the talent already nurtured in the company over a period of time. Careful strategies for crafting and implementing employee retention strategies are a skill and should be given top priority by the management. The retention of knowledge worker has become extremely critical for the success of a business organization in the present scenario especially in the service sector with lot of people interface. HR department has to play a key role in designing the policies, practices and strategies, which can enable an organization to retain the human resources contributing significantly to the business. The t- test, annova, chi square test and correlation test is used for evaluation of the data. Cite this Article: Ms. M. Buela Rose and Ms. Leema Rose. A Study on Employee Retention In PL.A Group of Companies. International Journal of Management, 7(2), 2016, pp. 385-395. http://www.iaeme.com/IJM/index.asp 1. INTRODUCTION OF EMPLOYEE RETENTION 1.1. Employee Retention Employee retention refers to the ability of an organization to retain its employees. Employee retention can be represented by a simple statistic (for example, a retention rate of 80% usually indicates that an organization kept 80% of its employees in a given period). However, many consider employee retention as relating to the efforts by which employers attempt to retain employees in their workforce. In this sense, retention becomes the strategies rather than the outcome. In a Business setting, the goal of employers is usually to decrease employee turnover, thereby decreasing training costs, recruitment costs and loss of talent and organisational knowledge. By INTERNATIONAL JOURNAL OF MANAGEMENT (IJM) ISSN 0976-6502 (Print) ISSN 0976-6510 (Online) Volume 7, Issue 2, February (2016), pp. 385-395 http://www.iaeme.com/ijm/index.asp Journal Impact Factor (2016): 8.1920 (Calculated by GISI) www.jifactor.com IJM © I A E M E

2. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 386 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) implementing lessons learned from key organizational behavior concepts employers can improve retention rates and decrease the associated costs of high turnover. However, this isn't always the case. Employers can seek "positive turnover" whereby they aim to maintain only those employees who they consider to be high performers. In a time of demographic change the binding of employees is especially important for the survival of companies. Today firms should recognize that the number of workers in absolute terms is falling. Companies should take measures in advance and set up a systematic retention management, which is becoming a major issue for many businesses. A manager should keep in mind: "getting good staff is only half of the battle; the other half is keeping them". 1.2. Definition of Retention Management The workforce planning for Wisconsin State Government (2005) defines retention management as “a systematic effort by employers to create and foster an environment that encourages current employees to remain at the same employer having policies and practices in place that address their diverse needs”. 1.3. Objectives and Principles of Retention Management Retention management focuses on the effective system of measures that lead to retention of employees. It includes all activities that systematically influence the binding, performance and degree of loyalty of staff. David J. Forrest (1999) defines 5 basic principles of retention management, that lead to successful employee performance and satisfaction, and therefore to their retention. First of all, employees need to feel they are appreciated, valued and trusted. It is about respecting people and their contributions to the company effort. The second principle is development. Employees who participate in their own growth and development plans are going to stay with the company because they know their company wants more for them. The next principle is growth in responsibility. Most people want to grow and to feel more competent and more responsible, at any level. A good company helps people manage themselves by consistently focusing on performance and results. The manager teaches the employee what they are good at, what else they need to know and how to get it. As they grow they receive higher levels of responsibility and accountability. This attitude also encourages innovation and creativity. The fourth principle is a good relationship with the manager. The supervisor represents the personal experience of a corporation of employees and therefore reflects, for better or for worse, its underlying attitudes toward them. The fifth principle is success. The valued and successful employee stays. This implies, of course, that the work is meaningful to the corporate enterprise. The strong employer rewards employees for helping to make others successful as well. As a result a company expects from its staff power, loyalty and willingness to stay in the company. Employees expect a fair treatment and a personal appreciation, which lead to the efficiency of retention management. 2. THE PROCEDURE OF RETENTION MANAGEMENT The procedure of retention management consists of six steps: 1. Identification of the target and actual needs of the staff 2. Analysis of the fluctuation risk of the staff 3. The Analysis of factors of Motivation/Demotivation of the retention group 4. Identification of the targeted measures 5. Implementation of the measures 6. Evaluation of the measures

3. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 387 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) 2.1. Step 1: Identification of target and actual needs of the staff: The starting point is the corporate strategy and business objectives. The product, market or organisational goals of the company can help to identify strategic staffing needs and the strategic relevant skills of employees. 2.2. Step 2: Analysis of the fluctuation risk of staff: In step 2, the HR manager is interested in the degree of the fluctuation risk. First, it is important, to analyse the common portfolio of the potentials and performance of the employees. In large companies, this could be done through a management audit. In small businesses this can be clarified with an employee interview. This gives the manager information about the power structure in the relevant group. But this information is not enough to estimate the probability of fluctuation. It is also necessary to consider the demand for the relevant skills in the labor market. When a manager combines the results of the analysis he can identify three risk categories, which would cause a priority for the retention management:  Those employees, who are in great demand in the labor market and who have a high capacity, are the key target group for retention management measures.  Those employees, who perform well and whose skills are somewhat in demand in the labor market, have a mean fluctuation risk. Depending on the corporate strategy they are the second important target group for retention management measures.  Employees that have skills that exist in large numbers in the labor market and who also who perform well are currently not a relevant retention target. 2.3. Step 3: Analysis of factors of Motivation/Demotivation of the retention group: Now motivators and demotivators must be found in the identified retention target group. The motivators must be taken into account and demotivators must be removed with the help of appropriate measures, to ensure that the employees develop affective commitment. Motivators and demotivators can be estimated from the outcome of questionnaires. Subsequently a Motivation/Demotivation profile of the retention target group should be formed. 2.4. Step 4: Identification of the targeted measures: The various measures of human resource management relate to different motivational factors. These connections can be used to create a specific matrix in which the action areas of personnel management and appropriate measures will be brought together with the motivational factors. 2.5. Step 5: Implementation of the measures: After the analysis measures will be implemented. Here are some important aspects:  Conceptual foundations: The measures must be defined and applied according to clear rules, in this context ad hoc measures lead only to short-term success with negative cultural impact.  Cultural fit: Measures must be in accordance with the corporate culture and the existing Management tool system For example, a variable compensation system makes little sense without a performance appraisal system!  Marketing personnel action: The application of the measures must be accompanied by internal communication. Only then the efforts of a retention manager will be perceived!  Retention factors: By the design and implementation of retention management policies respect and transparency must be taken into account. Only when these measures convey these values, they will have great influence! 2.6. Step 6: Evaluation of the measures: After the implementation of the measures it is necessary to assess the success of the activities. This can be achieved by comparing the results to the objectives that were set in the retention management strategy. After the expiry of the defined period and after application of the retention policies the manager can check how the objectives were achieved. For example, if the objective was that 80% of the defined strategically relevant staff should be in business at time X, then the manager can determine

4. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 388 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) whether this ratio was reached at time X, and whether it was exceeded or not exceeded. From this statement the manager can derive new measures and draw conclusions about the practice of the concept of retention management. Important conditions for the success of retention management are on the one hand, human resource management in the company, and on the other hand project management of the implementation of retention management. 3. HERZBERG’S THEORY An alternative motivation theory to Maslow’s Hierarchy of Needs is the Motivator- Hygiene (Herzberg’s) theory. The theories have overlap, but the fundamental nature of each model differs. While Maslow’s Hierarchy implies the addition or removal of the same need stimuli will enhance or detract from the employee’s satisfaction, Herzberg’s findings indicate that factors garnering job satisfaction are separate from factors leading to poor job satisfaction and employee turnover. Herzberg’s system of needs is segmented into motivators and hygiene factors. Like Maslow’s Hierarchy, motivators are often unexpected bonuses that foster the desire to excel. Hygiene factors include expected conditions that if missing will create dissatisfaction. Examples of hygiene factors include bathrooms, lighting, and the appropriate tools for a given job. Employers must utilize positive reinforcement methods while maintaining expected hygiene factors to maximize employee satisfaction and minimize retention. 4. RETENTION STRATEGIES – DEFINITION Any employee retention strategy would necessarily include a plan for redressing employee grievances and ways and means to address employee issues. This would mean that the employees would be enabled to take their issues regarding pay, their work, their role etc. to the HR manager for each division and expect to get a fair hearing in the process. There should be a plan where the HR manager in conjunction with the manager of the employee who has raised the issue works towards resolving the issue. 5. COMPONENTS OF A RETENTION STRATEGY Taking each of these strategies in turn, job rotation is the practice of moving the employees around divisions and within divisions with a clear emphasis on making sure that they operate in domains other than the ones assigned to them initially. This would mean that the employees get trained on competencies beyond that of their assigned plant and this would lead to greater motivation to pick up additional skills and motivate them to perform better. The importance of grievance redressal and mitigation cannot be emphasised more. This is the most critical and crucial component of the HRM plan as research has shown that an employee with pending issues awaiting resolution is twice more likely to quit the company than the other employees. Hence, all efforts must be made to redress the grievances of the employees. 6. GRIEVANCE REDRESSAL An effective retention strategy would focus on preventing as well as addressing grievances . Though it is not the contention that all grievances can be prevented, they can be “pre-empted” by actively listening to the employees from time to time. This strategy of “listening” to the employees would revolve around a concept of “one-one” meetings between the employees and the manager and employees and the HR representative for the unit or division. The idea of the regular “one-one” meetings would be to identify potential causes of friction among the employees and any issues they may have vis-à-vis their job and benefits. These issues need to be brought out into the open before they become contentious resulting in the employee feeling frustrated and quitting the job. Hence, all efforts must be made to identify sources of employee dissatisfaction and “hygiene factors” that must be taken care of for proper functioning of the employees. 7. WAYS TO MITIGATE JOB DISSATISFACTION Management theorists often emphasise the fact that one of the reasons for low employee morale in organizations is the fact that the employees and often feel alienated and cut off from the larger purpose. The contention is that the employees feel themselves to be part of an impersonal setup and perceive themselves to be unable to make a difference to the whole unit. Hence, there is a need to involve the employees in the larger picture and provide them with perspective on the bigger picture. In engineering units with assembly line manufacturing, the engineer is often responsible for his or her part of the chain

5. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 389 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) and is not in a position to relate to the bigger picture. Hence, there should be effective strategies like job rotation, interaction with other units, timely promotions and cross functional teams wherein the engineers would feel themselves to be contributing to the larger goal of the company. 8. SEVEN WAYS TO IMPROVE EMPLOYEE RETENTION 8.1. Hire for "Fit" One of the best ways to improve employee retention is to make sure you are hiring the right people to start with. This involves going beyond making sure that you are hiring people who have the necessary skills, but also ensuring that you're hiring people who are a good fit for the culture of your organization. According to CNN Money, companies should communicate information about company culture early in the recruitment process, using psychometric assessments to determine key characteristics and have prospective hires interview with several people across the organization. 8.2. Leadership Development According to Forbes.com, manager behaviors play a major role in employee retention. The way that employees feel about their managers - and company leadership as a whole -has a huge impact on whether or not they decide to stay or leave. Those who feel micro managed and who view management as unappreciative or unwilling to listen to them tend to feel dissatisfied, and are thus inclined to leave. Providing leadership development training to supervisory employees to make sure they know how to build a strong team and create a positive environment that meets the needs of workers can go a long way toward boosting retention. 8.3. Performance Appraisals Employees want to know how they are doing in their jobs and to be clear on what is expected of them. Those who don't get such feedback may start to feel lost, become disengaged and start to think about leaving. Companies that want to improve retention are well-served by implementing a formal, performance evaluation system as a tool for improving retention that includes frequent performance-related communication between employees and managers as well as completing formal employee evaluation forms periodically. 8.4. Recognition Programs Recognizing employees for their contributions and accomplishments can go a long way toward boosting employee retention. According to World at Work: The Total Rewards Association, companies that utilize formal employee recognition programs have worker satisfaction ratings double that of companies that do not have such programs in place, resulting in a positive impact on employee retention. These programs can take many forms, from recognizing years-of-service with plaques and promotional items to publicizing employee accomplishments in company newsletters to providing incentives for outstanding accomplishments and more. 8.5. Employee Training Providing employees with access to job-related training opportunities can have a powerful impact on retention. According to HCareers.com, providing employee training can increase retention by as much as 70 percent. Some of the impact can be attributed to the fact that teaching people how to do their jobs can have an impact on how effectively they perform, thus reducing performance-related terminations as well as employees who decide to leave because they don't feel comfortable with what they are doing. Additionally, when a company is willing to invest in employee development, workers are likely to feel valued and appreciated.

6. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 390 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) 8.6. Promote from Within Companies that exhibit a willingness to promote employees from within often enjoy higher employee retention rates than those who do not. Employees who want to move up are simply not likely to stay in jobs where they do not feel that advancement is a possibility. Even if you have a policy that allows and encourages internal promotions, employees are not likely to see advancement as a real opportunity if they don't see the organization making decisions to promote from within. 8.7. Employee Benefits Offering a comprehensive benefits packages can play a major role in improving employee retention. In a2012, more than 60 percent of employees who reported satisfaction with benefits also reported feeling loyal to their employers, something that The Society for Human Resource Management(SHRM) sees as an indicator of just how critical benefits packages are to employee retention. Microsoft Business recommends finding out what kinds of benefits are important to the members of your workforce and designing packages that meet those needs. 9. EMPLOYEE RETENTION STRATEGIES FOR A HIGH PERFORMANCE ENVIRONMENT 1. Hire retainable employees 2. Plan careers, don’t fill roles 3. Make retention personal 4. Get to the heart of underperformance 10. NEED FOR THE STUDY  To understand the employees knowledge, ability, and skills.  To know the retention method of the organization.  To know about the effort taken by the organization to implement the retention techniques. 11. SCOPE OF THE STUDY  This study belongs to the area of Human Resource management specification.  This study restricts to Employee Retention towards PL.A Group of companies.  This study result can be applicable to all similar type of the leather quality assurance& control business organizations. 12. OBJECTIVE OF THE STUDY 12.1. Primary Objective A Study on Employee Retention in “PL.A Group of companies”, Trichy. 12.2. Secondary Objective  To find the reason for Employee Retention in “PL.A Group of companies”  To analyze how the employees retained in the organization. 13. RESEARCH DESIGN Descriptive research design has used for this study. The study shows the Employee Retention in “PL.A Group of companies” 13.1. Sources Of Data Primary data has used for this study.

7. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 391 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) 13.2. Sample Area The sampling area is Trichy city. 13.3. Sample Size The Size of the sample is 100. 13.4. Period Of Study Limited period of time for this study 13.5. Type Of Survey The researcher has used convenience sampling method. 13.6. Research Approach Questionnaire survey method was adopted for completing the data collection in this research. 13.7. Tools Used For Analysis  ANOVA  Correlation  T- Test  Chi- Square Test  Percentage Analysis 13.8. Tools Used For Presentation  Bar Chart  Pie Chart 14. HYPOTHESIS 1. There is a significant association between the age of the respondents and employee retention strategies in various dimensions. 2. There is a significant association between the experience of the respondents and employee retention strategies in various dimensions. 3. There is a significant association between the training program of the respondents and employee retention strategies in various dimensions. 4. There is a significant association between the monthly income of the respondents and employee retention strategies in various dimensions. 5. There is a significant difference between the gender of the respondents and employee retention strategies in various dimensions. 6. There is a significant difference between the marital status of the respondents and employee retention strategies in various dimensions. 7. There is a significant difference between the educational qualification of the respondents and employee retention strategies in various dimensions. 8. There is a significant difference between the type of family of the respondents and employee retention strategies in various dimensions. 9. There is a significant difference between the domicile of the respondents and employee retention strategies in various dimensions. 10. There is a significant difference between the designation of the respondents with regard to employee retention strategies in various dimensions. 11. There is a significant difference between the department of the respondents with regard to employee retention strategies in various dimensions.

8. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 392 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) 15. LIMITATION OF THE STUDY  The duration of the study is limited.  The Results are based on Trichy city.  The study on limited to 100 respondents.  The scope is limited as it covered only questionnaire approach for data collection. 16. DATA ANALYSIS AND INTREPRETATION, FINDINGS, SUGGESTIONS AND CONCLUSION  56% of the respondents belong to below 30 years category  70% of the respondents belong to male.  40% of the respondents work in finance department.  42% of the respondents work in HR department.  68% of the respondents belong to rural area.  79% of the respondents belong to nuclear family.  64% of the respondents have below 3 yrs experience.  76% of the respondents complete their post graduate.  52% of the respondents are unmarried.  38% of the respondents earn Rs.10,000 to Rs.15,000  84% of the respondents attend the training programme.  52% of the employees have high level of employee retention in retention effort.  50% of the employees have high level of employee retention in retention problems.  62% of the employees have high level of employee retention in satisfactorily fulfilled.  52% of the employees have high level of employee retention in career goals.  54% of the employees have high level of employee retention in sufficient recognition.  52% of the employees have high level of employee retention in training and career development.  102% of the employees have high level of employee retention in overall activities. 17. HYPOTHESIS FINDINGS 1) Null Hypothesis for Alternative Hypothesis H (0) There is a significant association between the age of the respondents and Employee Retention in various dimensions. H (1) There is no significant association between the age of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 2) Null Hypothesis for Alternative Hypothesis H (0) There is a significant association between the experience of the respondents and Employee Retention in various dimensions. H (1) There is no significant association between the experience of the respondents and Employee Retention in various dimensions.

9. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 393 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) Result: Reject null hypothesis and accept alternative hypothesis. 3) Null Hypothesis for Alternative Hypothesis H (0) There is a significant association between the Training Program of the respondents and Employee Retention in various dimensions. H (1) There is no significant association between the Training Program of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 4) Null Hypothesis for Alternative Hypothesis H (0) There is a significant association between the monthly income of the respondents and Employee Retention in various dimensions. H (1) There is no significant association between the monthly income of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 5) Null Hypothesis for Alternative Hypothesis H (0) There is a significant association between the gender of the respondents and Employee Retention in various dimensions. H (1) There is no significant association between the gender of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 6) Null Hypothesis for Alternative Hypothesis H (0) There is a significant difference between the marital status of the respondents and Employee Retention in various dimensions H (1) There is no significant difference between the marital status of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 7) Null Hypothesis for Alternative Hypothesis H (0) There is a significant difference between the educational qualification of the respondents and Employee Retention in various dimensions. H (1) There is no significant difference between the educational qualification of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 8) Null Hypothesis for Alternative Hypothesis

10. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 394 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) H (0) There is a significant difference between the type of family of the respondents and Employee Retention in various dimensions. H (1) There is no significant difference between the type of family of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 9) Null Hypothesis for Alternative Hypothesis H (0) There is a significant difference between the domicile of the respondents and Employee Retention in various dimensions. H (1) There is no significant difference between the domicile of the respondents and Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 10) Null Hypothesis for Alternative Hypothesis H (0) There is a significant difference between the designation of the respondents with regard to Employee Retention in various dimensions. H (1) There is no significant difference between the designation of the respondents with regard to Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 11) Null Hypothesis for Alternative Hypothesis H (0) There is a significant difference between the department of the respondents with regard to Employee Retention in various dimensions. H (1) There is no significant difference between the department of the respondents with regard to Employee Retention in various dimensions. Result: Reject null hypothesis and accept alternative hypothesis. 18. SUGGESTIONS The quality of the supervision an employee receives is critical to employee retention. People leave managers and supervisors more often than they leave companies or jobs. It is not enough that the supervisor is well-liked or a nice person, starting with clear expectations of the employee, the supervisor has a critical role to play in retention. Anything the supervisor does to make an employee feel unvalued will contribute to turnover. Frequent employee complaints center on these areas. --Lack of clarity about expectations, --lack of clarity about earning potential, --lack of feedback about performance, --failure to hold scheduled meetings, and --failure to provide a framework within which the employee perceives he can succeed. Every supervisor who works in the organization should be aware of these frequent employees complaint and make the employees to feel satisfied in their job by providing the best offers to them.

11. International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online), Volume 7, Issue 2, February (2016), pp. 385-395 © IAEME Publication 395 Ms. M. Buela Rose and Ms. Leema Rose, “A Study on Employee Retention In PL.A Group of Companies” – (ICAM 2016) 19. CONCLUSION An organization can’t survive if the employees are not serious about it and are more concerned about their personal interests. The organization is completely at loss when the employees leave their job once they are fully trained. Employee retention takes into account the various measures taken so that an individual stays in an organization for the maximum period of time. Research says that most of the employees leave an organization out of frustration and constant friction with their superiors or other team members. In some cases low salary, lack of growth prospects and motivation compel an employee to look for a change. The management must try its level best to retain those employees who are really important for the system and are known to be effective contributors. It is the responsibility of the line managers as well as the management to ensure that the employees are satisfied with their roles and responsibilities and the job is offering them a new challenge and learning every day. BIBLIOGRAPHY [1] Managing Employee Retention – Jack J. Phillips [2] Keeping good people – Roger E. Herman [3] Retaining Top Employees – Leslie McKeon

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