Research study presentation
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This study examines factors influencing employee retention at Tamil Nadu Newsprint and Papers Limited. A questionnaire was distributed to 100 employees to understand growth opportunities, work environment, compensation, and support. Findings show that over 50% of employees have been with the company for over 20 years and are satisfied with decision making processes, promotions, transparency, and respect. Suggestions include behavioral training, clear rules, performance ratings, career mapping, and work-life balance initiatives to improve retention. The conclusion is that retaining quality employees benefits both the organization and individual through increased productivity and commitment.
Research study presentation
- 1. A STUDY ON EMPLOYEE RETENTION STRATEGY AND TECHNIQUES WITH SPECIAL REFERENCE TO TAMILNADU NEWSPRINT AND PAPERS LIMITED Faculty Guide Ms. Rashida Banu Submitted by K.S.Janani Dep No: 10/PCMA/512
- 2. EMPLOYEE RETENTION Employee attrition is very high in the current scenario. Therefore a study on Employee retention plays a vital role in analyzing the causes of the attrition and providing solution. Employee retention is more profitable than the new employees’ recruitment as the cost of training of the newly hired employees is high. Hence it is necessary for the organization to retain the existing employees than acquiring new employees. This study helps the organization to find the key areas to improve in order to attain higher retention rate. As a part of my study a questionnaire was covering the areas of employees’ growth strategy, environmental strategy, compensation methods and support strategy followed in the company, was prepared and circulated to different levels of employees. This formed the study of samples and size of samples was 100. The feedback from the employees were collected and used for the analysis. Based on that different measures and solutions were projected.
- 3. OBJECTIVES OF THE STUDY TITLE OF THE STUDY “A Study on Employee Retention Strategy and Techniques in Tamil Nadu Newsprint and Papers Limited” Primary objective: • To study and examine the factors leading to employee retention in the organization. Secondary objectives: • To study the importance of the employee retention in the organization. • To analyze the benefits of employee retention to the organization. • To examine the motivating factors that makes employees to get retained in the organization. • To give suggestions to the organization to increase the employee retention. • To analyze whether there is a relationship between job satisfaction and employee retention.
- 4. RESEARCH METHODOLOGY RESEARCH METHODOLOGY Research in common refers to a search for knowledge. Research comprises defining and redefining problems, formulating hypothesis or suggested solutions; collecting, organizing and evaluating data; making deductions and reaching conclusions; and at last carefully testing the conclusion to determine whether they fit the formulating hypothesis. Research Design: The research design adopted in the study is Descriptive research design. The design describes the characteristics of a particular individual or group. It describes the characteristics of the objects. Descriptive research, also known as statistical research, describes data and characteristics about the population or phenomenon being studied. Descriptive research answers the questions who, what, where, when and how.
- 5. Data Collection: The information is collected through primary and secondary data collection method. Primary data collection technique: In this research, the primary data is collected through survey using questionnaire method. The questionnaire is given to the employees in the organization. The responses are collected from them and are used for analysis. Secondary data collection technique: In this research, the secondary data is collected through internal sources such as company history, organizational chart, company magazines and websites, and external sources such as literatures, books and websites
- 6. Sampling Technique: Convenience sampling method is used in this study where the sample is taken according to the availability of the employees at Tamil Nadu News Print and Papers Limited. Total Population: The total population of Tamil Nadu News Print and Papers Limited is 350 Sample Size: The total sample taken is 100. Tools Used For Analysis: Simple Percentage Chi-Square Test
- 7. FINDINGS • Out of the 100 respondents, 52% of the respondents are post graduate , 30% of the respondents are graduate while 18% of the respondents are in others category. • 52% of the respondents have stayed with the organization for more than 20 years. • 64% of the respondents agree that employee participation and involvement in decision making are given importance in the organization • 52% of the respondents agree that opportunities for internal promotions is available in the organization. • 64% of the respondents agree that transparency and openness is practiced in the organization.
- 8. • 56% of the respondents agree that geographical location of the company is accessible. • 84% of the respondents agree that their self-respect and emotions are considered in the organization. • 60% of the respondents agree that they receive fair and reasonable remuneration in the organization. • 80% of the respondents have overall job satisfaction. • 52% of the respondents agree that the organization supports high target achievers.. • 64% of the respondents agree that they can voice their opinion without fear of reprisal.
- 9. SUGGESTIONS • Behavioral training should be provided. • The rules and regulations should be communicated to the employees and regularly checked. • A rating scale can be formulated for each and every cadre. The employees’ performance should be measured based upon the rating scale for every month. At the end of the year, each and every employees’ rated value is to be totaled and employee with the highest value can be rewarded in monetary or non-monetary terms. • Career maping should be done for each and every employee in the organization and the training should be provided to develop their skills and thereby providing opportunities for career growth.
- 10. • The organization has to take initiatives with regard to compensation strategy like providing the employees with stock options • It should be facilitated to achieve balance between personal and professional life. • When an employee is entrusted with the complete responsibility of carrying out from the start to the end, ownership adds to the responsibility. Example :Hyundai Motor India (HMI). The same practice can be introduced here.
- 11. Conclusion Companies have now realized the importance of retaining their quality workforce. Retaining quality performers contributes to productivity of the organization employees. It helps in reducing high levels of absenteeism and staff turnover. Satisfied employees tend to be more productive, creative and committed to their employers. Employee retention is beneficial for the organization as well as the employee. Individuals are explicitly aware of the wants they seek to meet through their individual. These wants are the circumstances that one talks about and seeks actively during a job search, compensation, type of the work, responsibility level, location. Individuals also have needs of which they are less aware, such as autonomy, desires for inclusion, high regard, control, and security.