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A THESIS ONA STUDY ON THE ATTRACTION AND RETENTION STRATEGIES OF EMPLOYEES IN MILMA:KANNUR
BY NIMISHA JANITH (7NBKN034)
A THESIS ONA STUDY ON THE ATTRACTION AND RETENTION STRATEGIES OF EMPLOYEES IN MILMA:KANNUR
BY Nimisha Janith (7NBKN034) MBA 2007-09
A report submitted in partial fulfillment of the requirements of THE MBA PROGRAM (2007-09) INC, KANNUR
Faculty Guide INC Center
: Mr.Ratheesh : Kannur
I, Ms. Nimisha Janith, hereby declare that this project work titled A study on the attraction and retention strategies of employees in Milma: Kannur" is the result of my own work done at Milma under the guidance of Mr. Ratheesh, Faculty Guide, INC Center Kannur and it has not formed the basis for the award of any degree or diploma either to this university or elsewhere.
Place: Kannur Date:
Signature of the Student (Nimisha Janith)
TABLE OF CONTENTS
Management Thesis Title. Objectives and Limitations... Methodology..
Industry profile Employee Retention Strategy.. Benefits of Employee Retention Reasons why employee leave the organization
Product profile. Attracting and Retaining of employees in Milma..
ACKNOWLEDGEMENTIt gives me great pleasure to thank and acknowledge all the concerned people who helped me and are helping me in continuing this project work successfully. I extend my sincere gratitude to Mrs. Nishi Rejan (Principal, INC Kannur), Mr.Ratheesh (Faculty Guide, INC Kannur), for his valuable guidance in steering the course of the study and in the preparation of this report. Last, but not the least my heartfelt gratitude to all the employees of Milma, Kannur and friends for their constant encouragement, support, help and valuable advice to make this project in the way of success. Name: NIMISHA JANITH Enrollment No: 7NBKN034
INTRODUCTIONEmployees are the heart and soul of a business, they are the mechanism that makes a business run, they are the breath of life that enables a business to be something more than an idea. Employee retention involves taking measures to encourage employees to remain in the organization for the maximum period of time. Corporate is facing a lot of problem in employee retention these days. Hiring knowledgeable people for the job is essential for an employer. But retention is even more than hiring. There are no of opportunities for a talented person. There are many organizations which are looking such employees. If a person is not satisfied by the job hes doing, he may switch over to some other more suitable job. In todays environment it becomes very important for the organizations to retain their employees. In a competitive environment market environment, talented employees are valuable asset. These employees in turn, are trying to make the best of their career opportunities. Therefore, an organization that shows concern for the employees future by providing them the best opportunities can attract and retain talented people. As the number of people who seek challenging jobs, greater responsibility and better opportunities increases, career planning becomes all the more essential. Moreover, employees seek jobs that are compatible with personal and family interests and commitments. Career development results in lower employee turnover by matching aspirations with organizations needs.
MANAGEMENT THESIS TITLE:A study on the attraction and retention strategies of employees in Milma: Kannur
OBJECTIVES Primary objectives To find out the attraction and retention strategies of employees in Milma Secondary objectives
To find out the methods to minimize the level of attrition in an organization
To analyze how far the workers are satisfied with their job. To find out whether adequate working conditions are provided to the workers. To find out the compensation programs and other benefits provided to the workers. To find out the training program provided to employees and whether the company reward them for their efforts. To find out the recruitment and selection procedures in selecting the right candidates. To find out the relationship with their co-workers and superiors.
LIMITATIONS The duration of the project is short and hence difficulty in conducting in-depth
study As the study is based on retention, the information is received from the
questionnaire; there is no other technique for evaluating attrition.
METHODOLOGYThe objective of research work is to follow systematic procedure from the statement of objectives to the analysis and reporting of data and findings. The survey process adopted in the present study consisted of the following stages:
Defining the problem and the research objective: The objective states
what information is needed to solve the problem. The objective of the research was to find out the A study on the attraction and retention strategies of employees in Milma: Kannur
Developing the research plan: Once the problem is identified, the next step
is to prepare a plan for getting the information needed for the research. The exploratory approach wherein there is a need to gather large amount of information before making a conclusion.
Sources and Collection of data: two kinds of data, i.e., primary data and
secondary data DATA COLLECTION
Primary data collection: The primary data will be collected through questionnaire among the workers of Milma. Primary data are collected expressively to help and solve the problem at hand. Questionnaires are formulated instrument for asking information directly from a respondent concerning behavior, demographic characteristics level of knowledge and or attitudes, beliefs and feelings
Secondary data collection: The data related to compensation policy
formulated are collected from official records and through the websites. Secondary data were collected for some purpose other than helping to solve the
current problems. Secondary data are virtually collected first because of time and cost advantage. SAMPLING TECHNIQUE
Sample Size Sample Method Sample Area
: The total sample size is 50. : Judgment sampling method. : Respondents from the employees of Milma.
Statistical tools used for analysis of data. Codification and analysis: the primary data collected has no use unless it is codified and analyzed. After collecting data through questionnaire, it has been codified and presented in tabular form using statistical tools. form. After collecting data using various research instruments, it is to be classified and tabulated. Then only further analysis can be made. Classification of Data is the process of arranging data in to sequences and groups according to their common characteristics. The collected data can be represented graphically with the help of Graphs and charts such as lines charts, bar diagram, pie charts etc. by using the sample The findings of research works will be analyzed and presented in the graphical
INDUSTRY PROFILEDairy is a place where handling of milk and milk products is done and technology refers to the application of scientific knowledge for practical purpose. Dairy technology has been defined as that branch of dairy science, which deals with the processing of milk and manufacture of milk products on an industrial scale. In India, dairying has been practiced as a rural cottage industry since the remote past. Semi-commercial dairying started with the establishment of military dairy farms and co-operative milk unions throughout the country towards the end of the nineteenth century. During the earlier years, each household in those countries maintained its family cow or secured milk from its neighbor who supplied those living closed by. As the urban population increased, fewer households could keep cow for private use. The high cost of milk production, problems of sanitation etc, restricted the practice and gradually the family cow in the city was eliminated and city cattle were all sent back to the rural areas. Gradually farmers within easy driving distance began delivering milk over regular routes in the cities. This was the beginning of fluid milk-sheds which surround the large cities of today. Prior to the 1850s most milk was necessarily produced within a short distance of the place of consumption because of lack of suitable means of transportation and refrigeration.
The Indian dairy industry has made rapid progress since Independence. A large number of modern milk plants and products factories have since been established. These organizes dairies have been successfully engaged in the routine commercial production of pasteurized bottle milk and various Western and Indian dairy products. With modern knowledge of the protection of milk during transportation, it became possible to locate dairies where land was less expensive and crops could be grown more economically. In India, the market milk technology may be considered to have commenced in 1950, with the functioning of the Central Dairy of Aarey Milk Colony and milk product technology in 1956 with the establishment of AMUL Dairy, Anand. The industry is still in its infancy and barely 10% of our total milk production The most valuable resources that a dairy business can have are reliable and productive workers. Todays tight labor market means that workers have many employment choices. Dairy producers need to do all they can to keep their best employees and attract other excellent workers to their team.
Employee Retention Strategies
Hire the right people in the first place.
Empowers the employees: Give the employees the authority to get things done. Make employees realize that they are the most valuable asset o