ATTRITION PROBLEMS RELETED TO SKILLED EMPLOYEES IN SERVICE SECTOR WITH SPECIFIC REFERENCE TO IKYA

HUMAN CAPITAL SOLUTIONS,BANGALORE

Guide: Prof Nagasubba Reddy RVIM, Bengaluru

By: Sagar Hanchate 141GCMD098

Introduction The company Quess provides business solutions in space of Human resources, Engineering, global technologies and facilities management, Company is Head quarter in Bengaluru.

Multinational, Fairfax Financial Holdings Group. It is held through Indian listed subsidiary, Thomas cook private limited. Quess is a part of $37+billon (as of 30th sept 2014),Amount of INR 2500 Crore top line group holdings company is India’s leading diversified business service group.

Company profile Founded: 2007

Ownership: majority owned by Fairfax financial Holding through TCIL

Current head count: ~1,00,000 Employees

Present in: 5 countries across Asia & North America.

The head quarter is in Bengaluru, they provide world class HR services through company

owned offices across India over 5000+ locations, including leading MNCs and large

Indian firms across industries. The company recruits and retains the right talent which is

critical to stability and success to any organization. Around 60,000 professionals enhance

Their careers every year.

Background of the Problem 5 Problems That Every Recruiting Company Faces Today

•Finding the Right Candidates

•Candidate competition

•Speed

•Antiquated Search Tools

•An Influx of Ineffective Recruiters

Objectives •To study different reasons for attrition.

• To study the needs of the Ikya workers.

• To know level of satisfaction after providing all the welfare facilities

• To provide suggestion to the company.

• To know how to reduce the turn over cost by retaining employee.

• To study how to retain the employees at Ikya.

Methodology The type of research design to be used for this study is descriptive research design.

Descriptive research design

A descriptive study involves formulating the objective of study, the population and

selecting a sample, designing methods for data collection and analysis of data.

Descriptive studies aim at portraying accurately the characteristics of particular group or

situation. Descriptive research is used to obtain information concerning the current status

of the phenomenon to describe what exists with respect to variables or condition in a

situation thus the descriptive research design is used to understand the current status of

employee.

Tools for data analysis After collecting data, tools are used for analysing the data and results are obtained. From

the obtained results, finding and suggestions can be done. The tools used in this project

for analysis are.

•Graphs

• Charts

Analysis Contributing goals towards organization. 7% of employees said that they always contribute goals towards the organization, of 17% often, of 46% sometimes,20% rarely 10% never.

Satisfaction of employees towards their salary 10% of employees said that they have excellent salary, of 26% good salary, of 37% fair, 24% poor, 3% said very poor salary. Company provides benefits 13% of employees said that company provides excellent benefits, of 7% good benefits, of 30% fair, 27% poor, 23% very poor

Likes of the employees every day at work place

20% of employees said that they love it what they do in work place, of 23% they like it, of 27% can't say, 23% dis like it, 7% said that they hate it.

Employee job satisfaction

10% of employees said that they are completely satisfied with their job, of 37% very satisfied, of 20% moderately satisfied, 23% slightly satisfied, 10% said that they completely dis-satisfied.

Employees opinion on organization’s culture

23% of employees said that their organization culture is excellent, of 20% is good, of 33% fair, 20% poor, 4% is very poor.

Satisfaction of the employees to spend enough time family and friends

7% of employees said that they completely satisfied that they have enough time to spend with family and friends, 10% very satisfied , of 20% moderately satisfied, 33% slightly satisfied, 30% said that it they completely dis-satisfied.

Findings •Ikya has consistently performing well when compared to its competitors.

•Employees are the asset of the company, retained employees are loyal towards the

•company.

•Through the HR outsourcing activity, the organization has managed to supply

effective man power to their client organization.

•The 76% of employees have rated the culture of Ikya has good.

•Even after a lot of efforts, the employees reported that they were not satisfied with

the salary.

•Ikya has maintained to be the best in the industry in relation to proper recruitment

strategy followed by the company.

Conclusion Winding up the project, in an organization human resource is the most important asset

of any organization. The success of any organization ultimately depends on how

efficient and effective its manpower is. Therefore the main aim of the organization must

be to retain its talented employees for longer time duration. Moreover it improves

employee job performance and encourages employees to express their views. Capacity

and potential with the effective utilization of manpower.

Thus, organization should create an environment that fosters growth opportunities,

appreciation for the work accomplished and a friendly cooperative atmosphere that

makes an employee feel connected in every respect to the organization

Suggestions •Very few employees are comfortable with their present salary. Majority of

them has the opinion that low salary is their problem in their organization. So

the company is suggested to provide salary, which satisfies its employees at

least to some extent.

•Many employees suggest improving working environment and employees

motivation in the survey. So the company should give attention to the factors

which it can improve itself internally.

•Hiring candidates with the right job qualifications and behavioural

competencies will improve the chances for a better job fit and thus enhance

productivity.

Thank you