PROJECT REPORT

On

Employee Retention and Engagement Strategy

M.B.A 1ST Sem –MANAGERIAL ECONOMICS

(Session 2023-24)

GALGOTIAS UNIVERSITY

Plot No.2, Sector 17-A Yamuna Expressway, Greater Noida, Gautam

Buddh Nagar, Uttar Pradesh, India.

SUBMITTE TO SUBMITTED BY :

DR. ARVINDER KAUR VIDUSHI VERMA

DEPARTMENT OF MANAGEMENT UMRA ANSARI

ABHISHEK KASHYAP

WASEEM AKRAM

SUBHANKAR

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 Table of content

s.no content Page.no

1 introduction 3-4

2 1.1 retention 3-4

3 1.2 old technology 4

4 1.3current 4
technology

5 Key retention 4
strategy

6 Objectives of the
study

7 Primary objective

8 Need for the study

7 Scope of the study

2
8 Research
methodology

9 Pivot study

10 Research design

11 Sample size

12 Tools of the data

collection

13 Data analysis and

interpretation

14 conclusion

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 List of table and graph
s.no Content Page no

1 Table 1.1

2 Table 1.2

3 Table 1.3

4 Table 1.4

5 Table 1.5

6 Table 1.6

4
7 Table 1.7

Graph 1.1
8

9 Graph 1.2

10 Graph 1.3

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 1.INTRODUCTION
With the labor market at its tightest in recent memory, the talk of the
town seems to be attracting top talent to a company. But what a
company does to retain that talent, and the talent it already employs, is
arguably more important than attraction. In recent times, employee’s
retention has become one of the leading challenges for organizations.
Given today's weak company loyalty, employees are increasingly
"jumping ship" for better job opportunities elsewhere. The issue isn't
simply losing a key member of your team; there is also the hassle-and
cost-of replacement. It is obvious that employee’s retention is one of
the most pressing issues that Human Resource Professionals face today.
Organizations have come to realize the critical strategic implications of
losing their best people. Employee’s turnover is assuming crisis
proportions for many employers who struggle to retain people in the
tightest labor markets in recent memory.

1.1 RETENTION
"Employee retention is the conscious and deliberate effort to retain
quality individuals on the company payroll. Stated otherwise, it is the
proactive methods utilized by successful organizations to stop the drain
of company profits caused by excessive employee turnover". HERMAN*
"Employee retention is not some externally generated set of activities or
metrics that have a life of their own and that are applicable to every

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circumstance. Effective employee’s retention is something that is very
specific to each individual organization.

1.2 OLD TECHNOLOGIES

▪ High cash.

▪ High retention bonus

▪ Work environment

▪ Learning opportunities on new technologies.

1.3 CURRENT TECHNOLOGIES

● Modest cash

● Modest ESOP

● Job excitement

● Work environment bonding.

1.4 KEY RETENTION STRATEGY

● Compensation, mainly incentives 20%

● Work environment 28%

● ESOP 20%

● Quality of job 15%

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 2. OBJECTIVES OF THE STUDY
2.1 PRIMARY OBJECTIVE
To have an understanding of the employees retention strategies
adopted at Vistonsoft Technologies and to study the issues related to it.
SECONDARY OBJECTIVES

● To study the employees’ awareness and knowledge about growth

strategies adopted by Vistonsoft Technologies to retain the employees.

● To assess the effectiveness of Environmental strategies in retaining

the employees.

● To identify the impact of compensation strategies in retaining the

employees.

● To understand the role of support strategies in retaining the

employees.

● To provide suitable suggestions to retain the employees at Vistonsoft

Technologies.

2.2 NEED FOR THE STUDY:

Employee retention is the conscious and deliberate effort to retain
quality individuals on the company payroll. Stated otherwise, it is the
proactive methods utilized by successful organizations to stop the drain
of company profits caused by excessive employee turnover. In the
globally competitive and challenging business scenario the success of an
organization will be to a great extent, influenced by the human
resources. The need for the study is as follows:

To understand the effectiveness of employment strategies in Visionsoft

Technologies.

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 1. To find out the effective ways to improve the present employee
retention strategies.

2. To find out the issues related to employee retention strategies

adopted in Visionsoft Technologies.

2.3 SCOPE OF THE STUDY

The scope for the study is explained as follows:

1. This study helps the organization to find the effectiveness of

retention strategies adopted in Visionsoft Technologies.

2. This study helps to make decisions regarding the improvement in the

retention strategies.

3. This study focuses on understanding employee awareness and

knowledge about the employee strategies.

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 3. RESEARCH METHODOLOGY
3.1 RESEARCH PROBLEM
It is in the interest of the researcher to have a thorough understanding
about the retention strategies adopted in this industry, and the
employer, employee interest in the same.

PILOT STUDY
To have a basic idea about the employee retention programme adopted
and the issues related to it a pilot study was conducted to find out the
feasibility of conducting the study at Vistonsoft Technologies, Chennai.
The researcher had a discussion with the HR Manager. This furnished
the logical basis upon which the questionnaire was subsequently
framed.

3.2 RESEARCH DESIGN

As the study attempts to describe the employee retention and analyze
the employee awareness, the Descriptive Design seemed to be most
appropriate and was therefore adopted.

UNIVERSE
Since the researcher wanted to confirm employee retention strategies
adopted at Vistonsoft Technologies, on the basis of the opinion of the
executives at Vistonsoft Technologies, all the executives at Vistonsoft
Technologies formed the universe for the study. The department wise
break up of the executives (universe) at Vistonsoft Technologies is given
below for reference.

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3.3 SAMPLE SIZE
Even though the department wise strength of the executives was made
available to the researcher, it was not possible to adopt “Stratified
Random Sampling ”(department wise) for the selection of sampling
units due to organizational constraints. Same way it was also not
possible to have a proportionate selection of units on the basis of
department wise strength. On the other hand it was suggested by the
organization to ascertain with the executives in each department about
their willingness to fill in the questionnaire and those who are willing to
do so, were asked to be included in the data collection.

Accordingly, adopting the “Convenience Sampling” procedure, a total of

120 respondents were covered by the study.

The confirmation at later stage regarding the executives covered by the

study and their department of work is understand to be as follows

3.4 TOOLS OF DATA COLLECTION

Questionnaire is the tool adopted by the researcher for collecting the

data. It refers to securing answers for a set of pre_constructed form of
questions to be filled in/ answered by the respondent. This method is
followed because it is

● Cost effective.

● Free from bias of the interviewer.

● Rating will be done based on the respondents own thinking.

● Enough time is available for filling the questionnaire.

● All the respondents of the study are well educated and busy.

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 4. DATA ANALYSIS AND INTERPRITATION

a.Do you think that employee retention helps in the

development of organization?

Option Respondents Percentage

Never 3 5.
50%
Sometimes 22 40%

Most of the time 13 23.9

0%
All the time 17 30.90%

25

20

15

Percentage
10 Respondents

0
Never Sometimes Most of the All the time
time

Table 1.1

Interpretation:
According to the data more than 90 % employees think that
employee retention helps in the development of the organisation

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however only 5.5 % employees think that it never help

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Which employee retention Strategy is useful in your hotel?

Option Respondents Perce

ntage
Use benefits to incentivize long-term 20 36.4
%
employment
Build an attractive hospitality company 14 25.5
%
culture
Help employees develop their careers 16 29.1
%
Focus on providing good leadership 05 9.1
%

Table 1.2

Interpretation:

According to the data 36 % employees select the strategy which

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said that use benefits to incentivize long term employment. Almost 26
% select that building an attractive hospitality company culture will be
useful and 29 % said that helping an employees for developing their
career will be useful however only 9.1 % employees said that focus on
providing good leadership.

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C .What is your opinion regarding the work load?

Option Respondents Percentage

Very high 14 25.5 %

High 22 40 %
Average 17 30.9 %
Very low 00 0%
Low 02 3.6%
Total = 55 100%

Table 1.3

Interpretation:
According to the data 40 % and 25.5 % employees said that the
work load is high and very high respectively. However 30 %
employees select average and only 3.6 % select low.

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d. Work-life balance is supported by this organization.

Option Respondents Percentage

Strongly disagree 06 10.9 %

Disagree 06 10.9%
Neutral 23 41.8%
Agree 17 30.9%
Strongly Agree 03 5.5%
Total = 55 100%

Respondents

Strongly disagree
Disagree
Neutral
Agree
Strongly Agree
Total =

Graph 1.1

Interpretation:
According to the data more than 30 % employees are agree or
strongly agree with the statement however 41.8 % employees are
neutral and almost 20 % employees are disagree or strongly

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disagree with the statement.

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 e. The training program is always linked with your career
development /growth.

Option Respondents Percentage

Strongly disagree 11 20 %
Disagree 06 10.9 %
Neutral 12 21.8 %
Agree 19 34.5%
Strongly agree 07 12.7 %
Total = 55 100%

Table 1.4
Interpretation:
According to the data more than 40 % employees are agree or
strongly agree with the statement however 21.8 % employees are
neutral and almost 30 % employees are disagree or strongly disagree
with the statement.

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 f. How would you rate the policies and procedures in
the organization?

Option Respondents Percentage

Poor 05 09.1 %
Below average 08 14.5 %
Average 25 45.5 %
Good 14 25.5%
Excellent 03 05.5 %
Total 55 100%

Graph 1.2
Interpretation:
According to the data 45.5 % employees gave average marking
however almost 30% employees marked good or excellent and almost
20 % employees marked below average to the policies and procedures

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in the organisation.

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 g. What do you feel about the working environment?

Option Respondents Percentage

Highly dissatisfied 03 05.5 %
Dissatisfied 08 14.5 %
Neutral 19 34.5 %
Satisfied 21 38.2 %
Highly satisfied 04 07.3 %
Total 55 100%

Respondents

Highly dissatisfied
Dissatisfied
Neutral
Satisfied
Highly satisfied
Total

Graph 1.3

Interpretation:
According to the data 38.2 % and 07.3 % employees are satisfied
and highly satisfied respectively with the working environment
however 34.5 % employees are neutral and 5.5 % and 14.5 %

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employees are strongly dissatisfied and dissatisfied respectfully.

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 h. Do you agree that employee retention is plays a vital
role in the results of productivity?

Option Respondents Percentage

Strongly disagree 06 10.9 %
Disagree 09 16.4 %
Neutral 11 20 %
Agree 23 41.8 %
Strongly agree 06 10.9 %
Total 55 100%

Table 1.5

Interpretation:
According to the data more than 50 % employees are agree or
strongly agree with the statement however 20 % employees are

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neutral and less than 20 % employees are disagree or strongly
disagree.

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 i. Would you like to plan your further career in this
organization?

Option Respondents Percentage

Yes 26 47.3 %

No 15 27.3 %

Maybe 14 25.5 %

Total 55 100%

Table 1.6

Interpretation:
According to the data 47.3 % and 25.5 % employees select yes and
maybe respectively that they would like to plan their further career in
their organisation. And

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27.3 % employees select no.

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 j. Will you suggest your friends / relatives to join this
organization?

Option Respondents Percentage

Yes 27 49.1 %

No 11 20 %

Maybe 17 30.9 %

Total 55 100%

Table 1.7
Interpretation:
According to the data 49.1 % and 30.9 % employees select yes and
maybe respectively that they will suggest their friends or relatives to
join their organisation. And 30.9 % employees select no.

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5. CONCLUSION

Adapting strategies might help hotel managers improve employee

retention, which may sustain the business, thereby generating
economic growth for local communities. With improved employee
retention, hotel managers will pay more 85corporate taxes, which
federal, state, and local governments could use to provide social
amenities to the local citizens. Also, improving employee retention
might help hotel managers sustain their firms and continue to provide
job opportunities to the residents. The general public might learn from
the study findings the strategies hotel managers use to improve
employee retention. The study findings align with previous scholars’
conclusions regarding the needto implement effective strategies to
improve employee retention.

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