3333 Employee Retention of Call Centre (Ageis BPO) Dt. 31.03.16

8/18/2019 3333 Employee Retention of Call Centre (Ageis BPO) Dt. 31.03.16

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CONTENTS

Chpter !"e No

Certificate of Originality

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Acknowledgment

Declaration

Original approved synopsis

Chpter # $ Introduction of the topic

Chpter ##$ Rational for the tudy! O"#ectives of the tudy!

$imitations of the tudy and Research %ethodologyChpter ###$ Company Profile

Chpter #%$ Data analysis! Interpretation and Presentation

Chpter %$ &indings and Conclusion

Chpter %#$ 'i"liography

Anne(ure

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C&A!TE' #$

#NT'O()CT#ON O* T&E TO!#C

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C&A!TE' # $

#NT'O()CT#ON O* T&E TO!#C

+mployee plays a very important role in the industrial production of the country, -he human

resource managers are really concerned with the management of people at work, It is necessary

to secure the cooperation of employee is possi"le only when they are fully satisfied with their

employer . the working condition on the #o", In the past ! industrialist . their employers

"elieved that their only duty towards their employee was to pay them satisfactory wages .

salaries, In the course of time! with the introduction of the concept of human resource

management! psychological researchers convinced them that the employee re/uired something

more important, In addition to providing monetary "enefits human treatment given to employees

plays a very important role in seeking their cooperation,

EM!+O,EE 'ETENT#ON

+ffective employee retention is a systematic effort "y employers to create and foster an

environment that encourages current employees to remain employed! "y having policies and

practices in place that address their diverse needs, A strong retention strategy! therefore!

"ecomes a powerful recruitment tool,

Retention of key employees is critical to the long0term health and success of any

organiation, It is a known fact that retaining the "est employees ensures customer satisfaction!

increased product sales! satisfied colleagues and reporting staff! effective succession planning!

and deeply em"edded organiational knowledge and learning, +mployee retention matters as

organiational issues such as training time and investment! lost knowledge! insecure employees!

and a costly candidate search are involved, 2ence! failing to retain a key employee is a costly

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proposition for an organiation, 4arious estimates suggest that losing a middle manager in most

'PO organiations costs up to five times his salary,

Intelligent employers always realie the importance of retaining the "est talent,

Retaining talent has never "een so important in the Indian scenario5 however! things have

changed in recent years, In prominent Indian metros at least! there is no dearth of opportunities

for the "est in the "usiness! or even for the second or third "est, Retention of key employees and

treating attrition trou"les has never "een so important to companies,

In an intensely competitive environment where 2R managers are poaching from each

other! 'PO organiations can either hold on to their employees tight or lose them to competition,

&or gone are the days when employees would stick to an employer for years for want of a "etter

choice, 6ow! opportunities are a"ound, In fact, some reports suggest that attrition levels in IT

companies are as high as 40 percent. Though BPO industry shoots ahead at 40 to 50 percent a

year, it is now losing 5 to 40 percent of its 50,000!odd employees as well ,

In India! there are few sectors where the attrition level is much larger compared to other

sectors! for e(ample! I- sector and 'PO5 whereas, there are BPO organi"ations li#e $ir India,

%$&, '('O, B$() where the attrition is much lower * nearly 5+ or less than that ,

Clearly! the only way out is to develop appropriate effective retention strategies,

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M"nit-.e of Emploee 'etentionfctor12

OB SAT#S*ACT#ON

+mployees seek a #o"! which offers them stratosphere level of responsi"ility and high growth of

tra#ectory, If the 'PO organiations do not deliver on these e(pectations! employ e(odus cannot "e contained,

SA+A', AN( !E'S

-here may "e any num"er of reasons as to why an employee leaves and one of the ma#or facts is

the money, 6owadays companies have started wooing the "est of the talents with mind "oggling

salary levels and attractive designations,

O' EN%#'ONMENT

An employee may leave an organiation if the fairness of the system does not inspire his8her

confidence, 'PO organiations! which pay scant regards towards employee safety and care! will

also have to face the mounting attrition levels,

!'ESS)'E O* O'

Companies in their eal to s/ueee out every little ounce of productivity from their employees

and further increase profita"ility may opt for less num"er of employees, In such situation

employees will "e constrained to rethink their priorities and #oin an organiation that promises a

rela(ed piece of work,

'E+AT#ONS! #T& S)!E'%#SO'S AN( CO6O'E'S

If the supervisor lacks confidence! empathy and trust in employees! they will fail to command

the respect of the su"0ordinates, imilarly lack of cordial relationship with co0workers will also

cause high rate of attrition,

M#SCE++ANEO)S

In addition to all the a"ove factors some of the other causes of attrition can "e health condition of

the person! geographical location and competency in the working environment,

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The concept of motition

-he word motivation has "een derived from motive which means any idea! need or emotion that

prompts a man in to action, :hatever may "e the "ehavior of man! there is some stimulus "ehind

it ,timulus is dependent upon the motive of the person concerned, %otive can "e known "y

studying his needs and desires,

-here is no universal theory that can e(plain the factors influencing motives which control mans

"ehavior at any particular point of time, In general! the different motives operate at different

times among different people and influence their "ehaviors, -he process of motivation studies

the motives of individuals which cause different type of "ehavior,

Motition8

According to +dwin ' &lippo! ;%otivation is the process of attempting to influence others to do

their work through the possi"ility of gain or reward,

Si"nificnce of Motition

%otivation involves getting the mem"ers of the group to pull weight effectively! to give their

loyalty to the group! to carry out properly the purpose of the organiation, -he following results

may "e e(pected if the employees are properly motivated,

1, -he workforce will "e "etter satisfied if the management provides them with opportunities to

fulfill their physiological and psychological needs, -he workers will cooperate voluntarily

with the management and will contri"ute their ma(imum towards the goals of the enterprise,

), :orkers will tend to "e as efficient as possi"le "y improving upon their skills and knowledge

so that they are a"le to contri"ute to the progress of the organiation, -his will also result in

increased productivity,

*, -he rates of la"or


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3, -here will "e good human relations in the organiation as friction among the workers

themselves and "etween the workers and the management will decrease,

7, -he num"er of complaints and grievances will come down, Accident will also "e low,

9, -here will "e increase in the /uantity and /uality of products, :astage and scrap will "e less,

'etter /uality of products will also increase the pu"lic image of the "usiness,

Abrhm & M1lo Nee. &ierrch or (eficient theor of Motition8

-he intellectual "asis for most of motivation thinking has "een provided "y "ehavioral scientists!

A,2 %aslow and &rederick 2ei"erg! whose pu"lished works are the ; Bile of -otivation.

Although %aslow himself did not apply his theory to industrial situation! it has wide impact for

"eyond academic circles, Douglous %ac >regor has used %aslow


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2ierarchy of needs5 the main needs of men are five, -hey are physiological needs! safety needs!

social needs! ego needs and self actualiation needs! as shown in order of their importance,

&ig @),1

-he a"ove five "asic needs are regarded as striving needs which make a person do things, -he

first model indicates the ranking of different needs, -he second is more helpful in indicating how

the satisfaction of the higher needs is "ased on the satisfaction of lower needs, It also shows how

the num"er of person who has e(perienced the fulfillment of the higher needs gradually tapers

off,

!h1iolo"icl or Bo. Nee.1$ 0 -he individual move up the ladder responding first to the

physiological needs for nourishment! clothing and shelter, -hese physical needs must "e e/uated

with pay rate! pay practices and to an e(tent with physical condition of the #o",

Sfet$ 6 -he ne(t in order of needs is safety needs! the need to "e free from danger! either from

other people or from environment, -he individual want to assured! once his "odily needs are

satisfied! that they are secure and will continue to "e satisfied for foreseea"le feature, -he safety

needs may take the form of #o" security! security against disease! misfortune! old age etc as also

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Self6Act-li:tion

E"o Nee.1

Socil Nee.1

Sfet Nee.1

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against industrial in#ury, uch needs are generally met "y safety laws! measure of social security!

protective la"or laws and collective agreements,

Socil nee.1$ 6 >oing up the scale of needs the individual feels the desire to work in a cohesive

group and develop a sense of "elonging and identification with a group, 2e feels the need to love

and "e loved and the need to "elong and "e identified with a group, In a large organiation it is

not easy to "uild up social relations, 2owever close relationship can "e "uilt up with at least

some fellow workers, +very employee wants too feel that he is wanted or accepted and that he is

not an alien facing a hostile group,

E"o or E1teem Nee.1$ 6 -hese needs are reflected in our desire for status and recognition!

respect and prestige in the work group or work place such as is conferred "y the recognition of

ones merit "y promotion! "y participation in management and "y fulfillment of workers urge for

self e(pression, ome of the needs relate to ones esteem

e,g,5 need for achievement! self confidence! knowledge! competence etc, On the #o"! this means

praise for a #o" "ut more important it means a feeling "y employee that at all times he has the

respect of his supervisor as a person and as a contri"utor to the organiational goals,

Self reli:tion or Act-li:tion nee.1$ 6 -his upper level need is one which when satisfied

provide insights to support future research regarding strategic guidance for organiation that are

"oth providing and using reward8recognition programs makes the employee give up the

dependence on others or on the environment, 2e "ecomes growth oriented! self oriented!

directed! detached and creative, -his need reflects a state defined in terms of the e(tent to which

an individual attains his personnel goal, -his is the need which totally lies within oneself and

there is no demand from any e(ternal situation or person,

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The problem of Emploee 'etention of Cll Centre;1

+mployees do not leave Cll Centre;1 without any significant reason, -here are certain

circumstances that lead to their leaving the o Cll Centre;1, -he most common reasons can "e

ob i1 not ht the emploee e 1enior1 n. mn"ement$ -rust is the most

important factor that is re/uired for an individual to stay in the #o", 6on0supportive

coworkers! seniors and management can make office environment unfriendly and

difficult to work in,

• Stre11 from oeror= n. or= life imblnce$ Fo" stress can lead to work life

im"alance which ultimately many times lead to employee leaving the Cll Centre;1,

• Compen1tion$ 'etter compensation packages "eing offered "y other Cll Centre;1

companies may attract employees towards themselves,

• Ne job offer$ An attractive #o" offer which an employee thinks is good for him with

respect to #o" responsi"ility! compensation! growth and learning etc, can lead an

employee to leave the Cll Centre;1,

Cll Centre;1 Emploee 'etention Strte"ie1

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-he "asic practices which should "e kept in mind in the Call CentreGs +mployee Retention

trategies are

1, 2ire the right people in the first place,

), +mpower the employees >ive the employees the authority to get things done,

*, %ake employees realie that they are the most valua"le asset of the organiation,

3, 2ave faith in them! trust them and respect them,

7, Provide them information and knowledge,

9, Heep providing them feed"ack on their performance,

=, Recognie and appreciate their achievements,

?, Heep their morale high,

B, Create an environment where the employees want to work and have fun,

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-hese practices can "e categoried in * levels $ow! medium and high level,

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:hat sets Call CentreGs +mployee Retention trategies apart is a steadfast philosophy that

• Eses only research0"ased! theory0supported approaches to improving employee engagement,

Avoided are gimmicks such as employee of the month! suggestion "o(es! pries or other

;carrots, :hile commonly used! these short0term fi(es fail to produce genuine employee

loyalty @more than 9 years< of research tells us soJ,

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• +mploys an easy0to0understand systems approach to ensure the root causes of turnover are

addressed and the potential for lasting change unleashed,

• Customies all activities to Call CentreGs organiation


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)n.er1tn. h emploee1 lee$

:hy employees leave often pules top management, +(it interviews are an ideal way of

recording and analying the factors that have led employees to leave the organiation, -hey

allow an organiation to understand the reasons for leaving and underlying issues, 2owever

employees never provide appropriate response to the asked /uestions, o an impartial person

should "e appointed with whom the employees feel comforta"le in e(pressing their opinions,

Implement retention strategy:

Once the causes of attrition are found! a strategy is to "e implemented so as to reduce employee

turnover, -he most effective strategy is to adopt a holistic approach to dealing with attrition, An

effective retention strategy will seek to ensure

• Attraction and recruitment strategies ena"le selection of the Kright< candidate for each

role8organiation

• 6ew employees< initial e(periences of the organiation are positive

• Appropriate development opportunities are availa"le to employees! and that they are kept

aware of their likely career path with the organiation

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Periodic days off for good performance

Rewards @ gift! certificates! monetary and non monetary rewards

Recogniing professional as well as personal significant events

• :edding gifts

• Anniversary gifts

• 6ew "orn "a"y gifts

• cholarships for employeeet well cards8flowers

•

'irthday cards! cele"rations and gifts

Providing "enefits

o 2ome insurance plans

o $egal insurance

o -ravel insurance

o Disa"ility programs

Providing perks It includes coupons! discounts! re"ates! etc

o Discounts in cinema halls! museums! restaurants! etc,

o Retail store discounts

o Computer peripherals purchase discounts

Providing workplace conveniences

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o On0site A-%

o On0site facilities for which cost is paid "y employees

laundry facility for "achelors

hipping services

o Assistance with ta( calculations and su"mission of forms

o &inancial planning assistance

o Casual dress policies

o &acilities for e(pectant mothers

Parking

Parenting guide

$actation rooms

&le(i timings

&un at work

o Cele"rate "irthdays! anniversaries! retirements! promotions! etc

o 2oliday parties and holiday gift certificates

o Occasional parties like diwali! holi! dushera! etc

o Organie get together for watching foot"all! hockey! cricket matches

o Organie picnics and trips for movies etc

o ports outings like cricket match etc

o Indoor games

Occasional stress relievers

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o ;Casual dress day

o ;>reen is the color day

o 2andwriting analysis

o -atoo! mehandi! hair "raiding stalls on weekends

o %ini cricket in office

o Ice cream &ridays

o 2oli0Day "reakfast

+mployee support in tough time or personal crisis

o Personal loans for emergencies

o Childcare and eldercare services

o +mployee Assistance Programs @ Counseling sessions etc

o +mergency childcare services

Me.i-m +eel Strte"ie1 for Emploee 'etention

• Appreciating and recogniing a well done #o"

• pecial "onus for successfully completing firm0sponsored certifications

• 'enefit programs for family support

•

Child adoption "enefits• &le(i"le "enefits

• Dependents care assistance

• %edical care reim"ursement

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Providing conveniences at workplace

>ymnasiums

Athletic mem"ership program

Providing training and development and personal growth opportunities

o a""atical programs

o Professional skills development

o Individualied career guidance

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3333 Employee Retention of Call Centre (Ageis BPO) Dt. 31.03.16

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