RESERCH REPORT

ON RETENTION STRATEGIES IN WIPRO

Submitted in partial fulfillment of MASTERS OF BUSINESS ADMINISTRATION PROGRAME

Conducted by G B TECHNICAL UNIVERSITY, LUCKNOW
Under the guidance of : Ms. RINKI VERMA (Asstt. Professor) LBSIMDS (Lucknow) Submitted by: RICHA RUPALI MBA IV SEMESTER

LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT & DEVELOPMENT STUDIES, LUCKNOW

PREFACE

Research report is an internal part of MBA program. It helps the students to understand the practical aspects of Marketing and Human Resource (HR). As a part of my MBA program at Lal Bahadur Shashtri Institute of Management and Development Studies Lucknow. I was supposed to make the report. I have made report on the topic RETENTION STATEGIES. In this report I have studied various strategies which the company should use in order to increase retention of employees. Retention of Key employees is critical to the long term health and success of any organization. It is a known fact that retaining your best employees ensures customer satisfaction increased product sales, satisfied colleagues and reporting staff, effective succession planning and deeply imbedded organizational knowledge and learning.

ACKNOWLEDGEMENT
Every work needs to be followed by a deep sense of gratitude to those who made is through success. It takes the opportunity to thanks all those people who render their immense help and guidance for completion of this report. Indeed this page of acknowledgement shall never be able to touch the generosity of those who rendered their cooperation. I also want to thanks head of department of LBSIMDS, Prof. TRIPTI BARTHWAL, my faculty guide Ms. RINKI VERMA for enlightening my ways for the completion of this report. Without her able guidance I would not have been able to complete this report. One of the biggest challenges companies are facing the attraction and retention of the good employees and top performers. The purpose of this project study was also to prove how employees retention is essential in this day and age, and if the organization are not awake to the situation and immediate action are not taken to that effect, what repercussions lay ahead and how they would affect the organization and the industry.

INDEX TABLE OF CONTENTS S.No 1 1(i) 1(ii) 2 2(i) 2(ii) 2(iii) 2(iv) 2(v) 2(vi) 2(vii) 2(viii) 2(ix) INTRODUCTION TO REPORT Executive summary Introduction LITRETURE REVIEW Benefits of retention Importance of employee retention Factors affecting employee retention Retention strategy process map Retention strategies Unique organizational structure Variable benefit strategy Internal advertisement strategy Retention tool Page No.

3. 3(i) 3(ii)

ABOUT WIPRO Overview Human Resource Planning INDEX TABLE OF CONTENT

S.NO 4. 5. 5(i) 5(ii) 5(iii) 5(iv) 5(v) 6. HUMAN RESOURCE POLICIES RETENTION STARTEGIES Pay and WIPRO USED IN Benefit Career Growth Work Environment Training Job Satisfaction RESEARCH METHODOLOGY Objective Sample Design 7. ANALYSIS AND INTERPRETATION 8. CONCLUSION AND SUGGESTION

PAGE NO.

9.

COMPARIOSION Comparison between strategies

10.

BIBLIOGRAPHY

INTRODUCTION TO THE REPORT

Executive Summary

Employee retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee. Employees today are different. They are not the ones who dont have good opportunities in hand. As soon as they feel dissatisfied with the current employer or the job, they switch over to the next job. It is the responsibility of the employer to retain their best employees. If they dont, they would be left with no good employees. A good employer should know how to attract and retain its employees. Most employees feel that they are worth more than they are actually paid. There is a natural disparity between what people think they should be paid and what organizations spend in compensation. When the difference becomes too great and another opportunity occurs, turnover can result. Pay is defined as the wages, salary, or compensation given to an employee in exchange for services the employee performs for the organization. Pay is more than "dollars and cents;" it also acknowledges the worth and value of the human contribution. What people are paid has been shown to have a clear, reliable impact on turnover in numerous studies. Employees comprise the most vital assets of the company. In a work place where employees are not able to use their full potential and not heard and valued, they are likely to leave because of stress and frustration. In a transparent environment while employees get a sense of achievement and belongingness from

a healthy work environment, the company is benefited with a stronger, reliable workforce harboring bright new ideas for its growth

INTRODUCTION
Effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their diverse needs. Also of concern are the costs of employee turnover (including hiring costs, training costs, productivity loss). Replacement costs usually are 2.5 times the salary of the individual. The costs associated with turnover may include lost customers, business and damaged morale. In addition there are the hard costs of time spent in screening, verifying credentials, references, interviewing, hiring, and training the new employee just to get back to where you started. Employee retention matters as organizational issues such as training time and investment; lost knowledge; insecure employees and a costly candidate search are involved. Hence failing to retain a key employee is a costly proposition for an organization. Employee retention refers to policies and practices companies use to prevent valuable employees from leaving their jobs. How to retain valuable employees is one of the biggest problem that plague companies in the competitive marketplace. Not too long ago, companies accepted the revolving door policy as part of doing business and were quick to fill a vacant job with another eager candidate. Nowadays, businesses often find that they spend considerable time, effort, and money to train an employee only to have them develop into a valuable commodity

and leave the company for greener pastures. In order to create a successful company, employers should consider as many options as possible when it comes to retaining employees, while at the same time securing their trust and loyalty so they have less of a desire to leave in the future.

THEORITICAL VIEW ABOUT RETENTION STRATEGIES

RETENTION STRATEGY

DEFINITION:According to Get Les Mckeowns employee retention is define as effective employee retention is a systematic effort by employers to create and foster an environment that encourages current employees to remain employed by having policies and practices in place that address their divers needs. Also of concern are the costs of employee turnover (including hiring costs. productivity loss). Replacement costs usually are 2.5 times the salary of the individual. The costs associated with turnover may include lost customers, business and damaged morale. In addition there are the hard costs of time spent in screening, verifying credentials, references, interviewing, hiring, and training the new employee just to get back to where you started. Typically, high attrition also leads to a chronic or systemic cycleattrition brings decreased productivity, people leave causing others to work harder and this contributes to more attrition. All this has a significant impact on the companys strength in managing their business in a competitive environment. Productivity and profitability are both impacted, either negatively and positively, according to the type of attrition. The cost of hiring is sometimes not less than two to three times the salary of the employee.

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BENEFITS OF EMPLOYEE RETENTION.

Every company should understand that people are their best commodity. Without qualified people who are good at what they do, any company would be in serious trouble. In the long un, the retention of existing employees saves companies money. As Beverly Kaye and Sharon Jordan- Evan stated in Training and Development: Studies have found that the cost of replacing lost talent is 70 o 200 percent of that employees annual salary. There are advertising and recruiting expenses, orientation and training of the new employee, decreased productivity until the new employee is up to speed, and loss of customers who were loyal to the departing employee. Finding, recruiting, and training the best employees represents a major investment. Once a company has captured talented people, the return-on-investment requires closing the back door to prevent them from walking out.

When an employee leaves a company for a direct competitor, there is always a chance that they will take important business strategies and secrets with them to be explained by the competition. This is yet another reason why the retention of employees is so crucial to some businesses. While this practice seems a bit unscrupulous, it skills happens quite frequently. As Bill Leonard stated in

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HR Magazine: Because employers know that the best-qualified applicants will come directly from competitors, recruiting and hiring employees away from mother of inventive and sometimes controversial business practices. Recruiting and hiring from your competitors is probably as old as business itself. But what is newand a hot topic among employers is how to attract and retain qualified candidates in a highly competitive labor market while also preventing their own intellectual capital from winding up in the hands of competitors. One way for a company to prevent employees from giving valuable information to competitors is to make it a policy to enforce strict non compete and confidentiality agreements amongst its employees. The existence of such agreements could in fact deter a competitor from hiring a valuable employ because they might not want to risk possible legal entanglements with the other company. Of course, all this could possibly lead to animosity with the employee who could feel that his or her options are being limited. Many employees dont always remember signing such a document, so a copy of it should always be kept on file for the employee to refer to. This area could prove to be a highly sensitive one between employer and employee, so extreme caution is suggested in all instances.

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IMPORTANCE OF EMPLOYEE RETENTION

Why is retention so important? Is it just to reduce the turnover costs? Its not only the cost incurred by a company that emphasizes the need of retaining employees but also the need to retain talented employees from getting poached. The process of employee retention will benefit an organization in the following ways: 1. The Cost of Turnover: The cost of employee turnover adds hundreds of thousands of money to a company's expenses. While it is difficult to fully calculate the cost of turnover (including hiring costs, training costs and productivity loss), industry experts often quote 25% of the average employee salary as a conservative estimate. 2. Loss of Company Knowledge: When an employee leaves, he takes with him valuable knowledge about the company, customers, current projects and past history (sometimes to competitors). Often much time and money has been spent on the employee in expectation of a future return. When the employee leaves, the investment is not realized.

3. Interruption of Customer Service: Customers and clients do business with a company in part because of the people. Relationships are developed that encourage continued sponsorship of the business. When an employee leaves,

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the relationships that employee built for the company are severed, which could lead to potential customer loss. 4. Turnover leads to more turnovers: When an employee terminates, the effect is felt throughout the organization. Co-workers are often required to pick up the slack. The unspoken negativity often intensifies for the remaining staff. 5. Goodwill of the company: The goodwill of a company is maintained when the attrition rates are low. Higher retention rates motivate potential employees to join the organization. 6. Regaining efficiency: If an employee resigns, then good amount of time is lost in hiring a new employee and then training him/her and this goes to the loss of the company directly which many a times goes unnoticed. And even after this you cannot assure us of the same efficiency from the new employee

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FACTORS AFFECTING EMPLOYEE RETENTION

1. Internal Factors: Factors which affect the job satisfaction of the employee inside the organization for example; strained superior subordinate relationship. Certain factors are employee centric such as: Family responsibilities, Personal preference for location of job etc.

2. External factors When an employee compares his/her position with that of same position in another company, this may lead to an inequity in the mind of employees, this will result in employee attrition these include: An employee comparing his salary, position, work environment,

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benefits with that of same position in another company may lead to preference for the other company.

RETENTION A BIG CHALLENGE

Fundamental changes are taking place in the work force and the workplace that promise to radically alter the way companies relate to their employees. Hiring and retaining good employees have become the chief concerns of nearly every company in every industry. Companies that understand what their employees want and need in the workplace and make a strategic decision to proactively fulfill those needs will become the dominant players in their respective markets. The fierce competition for qualified workers results from a number of workplace trends, including:

A robust economy Shift in how people view their careers Changes in the unspoken "contract" between employer and employee Corporate cocooning A new generation of workers Changes in social mores Life balance

Concurrent with these trends, the emerging work force is developing very different attitudes about their role the workplace. Today's employees place a high priority on the following:

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Family orientation Quality of life issues Autonomy Social status of the job

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RETENTION STATEGIES PROCESS

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TYPES OF RETENTION STAREGIES

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Every individual is different, his needs are different, and his emotions, his problems are different. There are many employee retention strategies are available in the industry. The companies should adopt these strategies to retain their employees into the organization. Retention strategies are classified into 3 major types these are:1. Unique organizational structure strategy 2. Variable benefit strategy 3. Internal advertisement strategy

UNIQUE ORGANIZATIONAL STRUCTURE ORGANIZATIONAL STRATEGY

Creating a company-specific organization structure and position title is the crux of this theory. This will reduce the employees tendency to compare his position title and benefits with that of same in other companies. Rather than force the employee to confine his talents to structured jobs, set job titles according to the knowledge, skill and ability of the employee. If an organization possess a unique structure with position titles and its responsibilities will keep the employee concentrated in the same company rather than choosing the job in other companies. Following important factors must be present in the unique organizational structure.

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a. Set Clear Expectations When people enter in a company for the first time as an employee, he/she may have many expectation regarding the salary, work environment etc. the primary need for the employee is to yearn a decent salary to live, when this objective is fulfilled the employee will look for social status such as attractive position titles and benefits structure which satisfy the egoistic needs of human being. So the company must manage this expectation by understanding the employees perception.
o

What is the employees attitude to other organization and its benefit structure for the same position? What are the employees expectations from employers/teammembers? What are the parameters to measure their performance? A good communication channel present in the organization. What will be the rewards, if the employees exceed the expected level?

o o

If the employees are not having any expectations, how an employer is going to appraise, the employees? This must be based on some standard. The employee must have the feeling that his role is important for the company. Also his position title must be socially acceptable. It should fulfill the egoistic needs of the employee. Setting expectations initiates the process. Managers need to sit down with each employee and clearly define what's expected of them. When expectations are not clear, employees may not be in sync with their job's current demands and priorities. Setting expectations is not a once and done activity. Jobs change.

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Priorities change. Resources change. Managers need to revise and set new expectations throughout the year. Setting expectations revolves around the following three areas:
o o o

Key job responsibilities Performance factors and standards Goals

Why is a setting expectation important? Quite simply, this process can be the cornerstone of improving the motivational climate within your sphere of responsibility. If your employees know what is expected of them, it allows them to focus on results and to monitor themselves against the set standards. Environments in which expectations are not clear, or change from week to week, seldom create high-performing work groups. The three principles that should drive expectations are clarity, relevance, and simplicity. 1. Clarity.

Expectations should focus on outcomes, not activities. In other words, employee achieves clarity when the employer identifies the expected results rather than the method for achieving them. Managers often make the mistake of attempting to direct the process that an employee will use rather than being clear about results.. Defining the objective often requires some thought on the part of the manager because it is easy to fall into the "activities trap." While developing a strategic plan for a department or division is a worthy activity, it does not represent an

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outcome. In the activities trap, developing a plan is the goal, rather than increasing your market share. 2. Relevance. The principle of relevance helps define the "why" of the assignment. If your employees have a full understanding of the project's importance, they can make adjustments as unanticipated factors crop up within the process. They probably also will be more committed to the result because they can see more easily how it fits into the big picture and how their efforts impact the company. This understanding typically is accomplished through dialogue between the manager and subordinate, which allows for a more thorough review of the situation and for feedback and discussion. This process builds good will with the employee and sets the stage for additional responsibilities. 3. Simplicity. Simplicity creates a sense of grounding for employees as they endeavor to carry out assignments. If managers identify the work in simple, straightforward terms, employees will find it much easier to follow through on managers' wishes. To accomplish this, a manager must identify the key message in a fashion that the employee can embrace.

b. Talent and Skill utilization

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Talent and skill utilization is another environmental factor your key employees seek in your workplace. A motivated employee wants to contribute to work areas outside of his specific job description. How many people could contribute far more than they currently do? You just need to know their skills, talent and experience, and take the time to tap into it. As an example, in a small company, a manager pursued a new marketing plan and logo with the help of external consultants. An internal sales rep, with seven years of ad agency and logo development experience, repeatedly offered to help. His offer was ignored and he cited this as one reason why he quit his job. In fact, the recognition that the company didn't want to take advantage of his knowledge and capabilities helped precipitate his job search. In this case the manager can easily change the position title of the employee and include the relevant job description in the position title. c. Fairness and Equitable Treatment The perception of fairness and equitable treatment is important in employee retention. In one company, a new sales rep was given the most potentially successful, commission-producing accounts. Current staff viewed these decisions as taking food off their tables. The employer can bet a number of them are looking for their next opportunity. In another instance, a staff person, just a year or two out of college, was given 20,000 in raises over a six month time period. Information of this type never stays secret in companies so the employer must know, beyond any shadow of a doubt; the morale of several other employees will be affected.

d. Career Growth

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The best employees, whom you want to retain, seek frequent opportunities to learn and grow in their careers, knowledge and skill. Without the opportunity to try new opportunities, sit on challenging committees, attend seminars and read and discuss books, they feel they will stagnate. A career-oriented, valued employee must experience growth opportunities within your organization.

VARIABLE BENEFIT STATEGY Periodical change in the benefit structure leads to increased awareness and
satisfaction with the benefits. One of the purpose of benefit structure is to motivating the employee. Unfortunately continues enjoyment of the benefits leads to reduced satisfaction and motivation. This can be solved by periodical change in benefit structure, i.e. periodically introduce new benefits and remove the old benefits. Following are the important factors present in the variable benefit structure. a. Proper Rewarding:Proper rewarding is important for the employee to be motivated during the job.

b. Attracting the Employees

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The aim of employee reward policies and practices, if any in your organization is to help attract, retain and motivate high-quality people. Getting it wrong can have a significant negative effect on the motivation, commitment and morale of employees. Personnel and development professionals will be involved frequently in reward issues, whether they are generalists or specialize in learning and development or employee relations. Keep following parameters in mind, while designing a reward policy: c. Recognition of the Work Recognition is the most cost-effective motivator. While the high cost of other rewards forces us to give them sparingly, recognition can be given any time, at very little cost. Some very ordinary items and events can be imbued with extraordinary motivational significance, far in excess of their monetary value, motivation of a pizza or movie tickets can be high if it is given with sufficient appreciation. A sincere thank you can be delivered at any place and at any time, costs absolutely nothing and can be more motivationally powerful than a substantial monetary bonus. Organizations can provide innovative recognition in an infinite number of ways. For example, (A Hypothetical Incident) a small manufacturing company made its employees feel like heroes when they attained a major safety milestone - 100 days without a single accident. On the morning of day 100, it was announced that a catered lunch would be served the next day, if they made it to the 5:30 shift without an accident. At 5:15 anticipating was building. Managers took confetti and streamers to the balcony overlooking the shop floor. When the 5:30 whistle blew, there were congratulations all around, confetti flew through the air and

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banners were unfurled. It was a great moment for everyone - and one that was not soon forgotten. The recognition value of this celebration was extremely high, while the monetary cost was relatively low. Highly motivating organizations even celebrate small successes. A healthconscious company distributes fruit bowls to employees' work areas when key personal milestones are attained. Another company uses a more fattening approach: fresh-baked chocolate-chip cookies to say thank you. Clearly the traditional "pay for loyalty" systems in most organizations need to be changed. Don't let attendance be your major criterion for rewards. Most employees resent those who only put in their time and yet receive the same reward as those who go the extra mile. Today's employees have higher expectations for what work can and should be, and they want to receive rewards that reflect their personal efforts and contributions. This is why so many companies are moving toward performance-based rewards, including performance bonuses, gain-sharing and non-monetary recognition. Although not a panacea, companies are finding that these new reward systems do allow them to give substantial rewards to those who really deserve them. Smart organizations are looking for opportunities to reduce across-the-board entitlements, and thereby find more resources for discretionary performancebased rewards, without increasing the total cost of rewards. The Law of Rewards - "What you reward is what you get" - Is extremely powerful. No matter what your orientation materials or job description might say, it is the rewards your organization gives that communicate the real expectations. The most important question to ask in evaluating the reward system in your organization is, do the rewards we are giving elicit the performance we want?

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Start with the results you want to achieve and then pinpoint the types of behaviors needed to achieve them. For example: Also, don't confuse employees with too many rewards. It is better to focus rewards on the critical few behaviors and results, rather than diluting them by rewarding the trivial many. d. Timely Action Rewards should be given as soon as possible after the performance has taken place. This is why the most successful gain-sharing programs pay employees monthly, rather than quarterly or annually as in the past. There is a well-accepted law of behavioral psychology, that if you want someone to repeat a behavior, you should positively recognize it immediately. From this law, smart supervisors and managers can learn a vital lesson: Look for any employee doing something right, right now, and recognizes it. e. Type of reward Rewards are as different as the people who receive them and it doesn't make sense to give rewards that recipients don't find rewarding. For example, some people prefer more pay, while others prefer more time off. A promotion might be more rewarding to one person, while a job-sharing arrangement might be more rewarding for another. Some people are excited about sports events, others about movies. Some employees would love a dinner in a romantic restaurant, others a book by their favorite author. Food, fun, education, improved work environment, gifts, travel, family-oriented activities - the options are endless. How do you know what will be rewarding to employees? Ask them. Smart organizations are also letting employees choose their own rewards from reward menus and catalogs. Personalizing rewards shows that a company cares enough to

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discover what "interests" each employee, rather than just distributing generic items. f. Longevity of the reward Increase the longevity of rewards can be done in a number of ways: One of the keys to reward longevity is symbolism. The more symbolic an item is of the accomplishment, the more likely it is to continue reminding the employee of why it was given. For instance, a T-shirt of coffee mug with a meaningful inscription will continue rewarding those who wear it, or use it, long after its initial receipt. While the monetary rewards received are spent and forgotten. Another way to increase the longevity of rewards in your organization is by using some kind of point system. Rather than rewarding each individual behavior or accomplishment, points can be awarded, which employees can accumulate and eventually trade for items from a reward menu or gift catalog. This keeps the anticipation of rewards fresh for longer periods of time. It also addresses the need for reward individualization. One company that designs motivational systems offers an electronic debit-card system to help larger clients cope with the complexity of distributing, tracking and redeeming employees' points. Employees can use their points to purchase virtually anything they want, from sports equipment and clothing to automobiles and overseas vacations. They only caveat for such programs is to make sure that the recognition value of the rewards isn't lost because of the impersonal nature of the technology. g. Decrease the de-motivators

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Interestingly, when researchers have investigated the motivational dynamics of these workplace games, they have found that the major motivator is the playing, not the prize. Most de-motivators can be dramatically reduced by soliciting employee involvement in identifying highest-priority de-motivators and by enlisting topmanagement commitment to support their reduction. It is probably self-evident that considerable sensitivity is needed in the administration of any reward system. One de-motivator that is probably endemic in any reward system modification (especially as an organization moves from entitlements to more performance-based rewards) is a sense that something is being taken away. Employees need to be educated about the reasons that this is being done, understand the ultimate benefits to them and the organization, and should probably have some input into the change process. h. Avoid perception errors To avoid the perception of unfairness, it is important, first and foremost, that the process for allocating rewards is viewed by employees as being impartial. This requires an objective measurement system that few organizations have. Without such objective measurement, any reward system is probably destined to failure.

INTERNAL ADVERTISING STRATEGY

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It communicates the advantages and benefits an employee received from the company. The theory holds that an organization must extend its marketing strategies to inside the organization. Competition is not just confined to marketing division of the organization but it directly affects the Human Resource division as well. The organizations are competing with each other to acquire the scarce talent pool. Internal advertisement simply meant to tell the employee that the organization which they are working is good and a company favorable comparison should be given to employees to solve the inequity they perceive. The major difference with internal advertisement is that the communication channel is different from that of marketing channels. Here the communication 1. Communications Communication is the first step toward creating the kind of environment that people care about, and if they care, they just may stay. Keep the employees in the loop about what's happening with the company. At any time, all of your employees should have a pretty good idea of how business has been, and they should be aware of what issues the company is attempting to address. Regularly keep the employees up to date with important events affecting the company. If November was good, let them know, and while you're at it, tell them what you expect to happen in December. Share good news, as well as points of concern. Listen to the employees when they have ideas for improvement. Again, the benefits extend beyond just making people feel appreciated for their contributions. These are, after all, the people who do the work every day. They may have some ideas to improve productivity, and when the employees

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do come up with one, let everybody know where it came from. Post a "brag board" in your break room, or circulate an internal newsletter that touts these contributions. The pay-off is a contagious feeling of pride and, perhaps, some new efficiency that saves the company money. 2. Speak freely The ability of the employee to speak his or her mind freely within the organization is another key factor in employee retention. Does the organization solicit ideas and provide an environment in which people are comfortable providing feedback? If so, employees offer ideas, feel free to criticize and commit to continuous improvement. If not, they bite their tongues or find themselves constantly "in trouble" - until they leave.

RETENTION TOOL
Apart from the legal and mandatory benefits such as provident-fund and gratuity, below is a list of other benefits employees should get.

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1. Group Medi-claim Insurance Scheme: This insurance scheme is to provide adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy in case of female employees or spouse of male employees. All employees and their dependent family members are eligible. Dependent family members include spouse, non-earning parents and children above three months 2. Personal Accident Insurance Scheme: This scheme is to provide adequate insurance coverage for Hospitalization expenses arising out of injuries sustained in an accident. This covers total / partial disablement / death due to accident and due to accidents. 3. Subsidized Food and Transportation: The organizations provide

transportation facility to all the employees from home till office at subsidized rates. The lunch provided is also subsidized. 4. Company Leased Accommodation: Some of the companies provides shared accommodation for all the out station employees, in fact some of the companies also undertakes to pay electricity/water bills as well as the Society charges for the shared accommodation. The purpose is to provide to the employees to lead a more comfortable work life balance. 5. Recreation, Cafeteria, ATM and Concierge facilities: The recreation facilities include pool tables, chess tables and coffee bars. Companies also have well equipped gyms, personal trainers and showers at facilities. 6. Corporate Credit Card: The main purpose of the corporate credit card is enable the timely and efficient payment of official expenses which the employees undertake for purposes such as travel related expenses like Hotel bills, Air tickets etc

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7. Cellular Phone / Laptop: Cellular phone and / or Laptop are provided to the employees on the basis of business need. The employee is responsible for the maintenance and safeguarding of the asset. 8. Personal Health Care (Regular medical check-ups): Some of the companys provides the facility for extensive health check-up. For employees with above 40 years of age, the medical check-up can be done once a year. 9. Loans: Many companies provide loan facility on three different occasions: Employees are provided with financial assistance in case of a medical emergency. Employees are also provided with financial assistance at the time of their wedding. And, the new recruits are provided with interest free loans to assist them in their initial settlement at the work location. 10. Educational Benefits: Many companies have this policy to develop the personality and knowledge level of their employees and hence reimburses the expenses incurred towards tuition fees, examination fees, and purchase of books 11. Performance based incentives: In many companies they have plans for, performance based incentive scheme. The parameters for calculation are process performance i.e. speed, accuracy and productivity of each process. The Pay for Performance can be as much as 22% of the salary. 12. Flexi-time: The main objective of the flextime policy is to provide opportunity to employees to work with flexible work schedules and set out conditions for availing this provision. Flexible work schedules are initiated by employees and approved by management to meet business commitments while supporting employee personal life needs The factors

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on which Flexi time is allowed to an employee include: Child or Parent care, Health situation, Maternity, Formal education program 13. Flexible Salary Benefits: Its main objective is to provide flexibility to the employees to plan a tax-effective compensation structure by balancing the monthly net income, yearly benefits and income tax payable. It is applicable of all the employees of the organization. The Salary consists of Basic, DA and Conveyance Allowance. The Flexible Benefit Plan consists of: House Rent Allowance, Leave Travel Assistance, Medical Reimbursement, Special Allowance 14. Regular Get together and other cultural programs: The companies organizes cultural program as and when possible but most of the times, once in a quarter, in which all the employees are given an opportunity to display their talents in dramatics, singing, acting, dancing etc. Apart from that the organizations also conduct various sports programs such as Cricket, football, etc and regularly play matches with the teams of other organizations and colleges. 15. Wedding Day Gift: Employee is given a gift voucher of Rs. 2000/- to Rs. 7000/- based on their level in the organization. 16. Employee Referral Scheme: In several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization. 17. Employee Stock Option Plan. Employees will be entitled to get the shares of the company. This will make employee directly related to the profit.

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ABOUT WIPRO

WIPRO
Overview Wipro started as a vegetable oil company in 1947 from an old mill founded by Azim Premji's father. When his father died in 1966, Azim, a graduate in Electrical Engineering from Stanford University, took on the leadership of the company at the age 21. He repositioned it and transformed Wipro (Western India Vegetable Products Ltd) into a consumer goods company that produced

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hydrogenated cooking oils/fat company, laundry soap, wax and tin containers and later set up Wipro Fluid Power to manufacture hydraulic and pneumatic cylinders in 1975. At that time, it was valued at $2 million. In 1977, when IBM was asked to leave India, Wipro entered the information technology sector. In 1979, Wipro began developing its own computers and in 1981, started selling the finished product. This was the first in a string of products that would make Wipro one of India's first computer makers. The company licensed technology from Sentinel Computers in the United States and began building Indias first mini-computers. Wipro hired managers who were computer savvy, and strong on business experience. In 1980 Wipro moved in software development and started developing customized software packages for their hardware customer s. This expanded their IT business and subsequently invented the first Indian 8086 chip. Since 1992, Wipro began to grow its roots off shore in United States and by 2000 Wipro Ltd ADRs were listed on the New York Stock Exchange. With over 25 years in the Information Technology business, Wipro Technologies is the largest outsourced R & D Ser vices provider and one of the pioneers in the remote delivery of IT services. Being a global provider of consulting, IT Services, outsourced R&D, infrastructure outsourcing and business process services, we deliver technology- driven business solutions that meet the strategic objectives of our Global 2000 customer s. Wipro today employs 96,000 people in over 50 countries. A career at Wipro means to learn and grow continuously, opportunities to work on the latest technologies alongside the finest minds in the industry, competitive salaries, stock options and excellent benefits.

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Human Resource Planning (HRP)

Human resources planning is an important component of securing future operations. For sustainability, plans must be made to ensure that adequate resources are available and trained for all levels of an organization. Although police organizations are stretched to meet current service requirements, it is important that they also spend time to create plans to ensure there will be officers to fill future positions. These plans must be prepared well in advance, with targets set for the short, mid and long term. Not only must adequate resourcing be considered for the bulk of the workforce but special consideration must be given for the leadership of each organization. This requires developing specialized succession plans for identifying and grooming potential future leaders. The leader candidates must receive management, leadership, and all relevant knowledge and skills training. Plans should also be created to leverage the knowledge of those leaving todays leadership roles so that future leaders are fully informed. Securing future policing operations requires careful planning and a clear implementation strategy. When I look at where we have come, what gives me tremendous satisfaction is not so much the success, but the fact that we achieved this success without compromising on the value we defined for ourselves. Values combined with a powerful vision can turbo-charge a company to scale new heights and make it succeed beyond ones wildest expectations.

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Azim Premji The basic purpose of having a manpower plan is to have accurate estimate of required manpower with matching skills requirements. The main objectives are: Forecast manpower requirements. Cope with changes environment, economic, organizational. Use existing manpower productively. Promote employees in a systematic way.

Wipro is the first People Capability Maturity Model (PCMM) Level 5, SEI Capability Maturity Model (CMM) Level 5 and version 1.1 of CMMi certified IT Services Company globally. Wipros people processes are based on the cur rent best practices in human resources, knowledge management and organization development, giving a great focus to match changing business needs with development of employee competencies.

Capability Maturity Model (CMM)

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Wipro has expertise in Six-Sigma methodologies, which have been put in use to streamline and enhance existing people processes in organizations, enabling decision making based on metrics and measurements. The central idea behind Six Sigma is that if you can measure how many defects you have in a process, you can systematically figure out how to eliminate them and get as close to zero defects as possible. Six for Sigma starts with the application of statistical methods translating information from customers into specifications for

products or services being developed or produced. Six Sigma is the business strategy and a philosophy of one working smarter not harder

Wipro is the first the most mature 91% of the average of 55%.

Indian company to adopt Six Sigma. Today, Wipro has one of Six Sigma programs in the industry ensuring that projects are completed on schedule, mush above the industry As the pioneers of Six Sigma in India, Wipro has

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already put around ten years into process improvement through Six Sigma. Along the way, it has scaled Six Sigma ladder, while helping to roll out over 1000 projects. The Six Sigma program spreads right across verticals and impacts multiple areas such as project management, market development and resource utilization

Evolution of Six Sigma at Wipro :Six Sigma at Wipro simply means a measure of quality that strives for near perfection. It is an umbrella initiative cover ing all business units and divisions so that it could transform itself in a world class organization. At Wipro, it means: (i) Have products and services meet global benchmarks (ii) Ensure robust processes within the organization (iii) Consistently meet and exceed customer expectations (iv) Make Quality a culture within. As timely reviews play a very crucial role to judge the success of a project. Wipro had to develop a team of experts for this purpose. The task assigned was to see the timeliness, find out gap, week areas and to check the outcome as per the plan. Build the Culture: Implementation of Six Sigma required support from the higher level managers. It meant restructuring of the organization to provide the infrastructure, training and

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the confidence in the process. Wipro had to build this culture and that took time in implementation. Project selection: The first year of deployment was extremely difficult for Six Sigma success. They decided to select the project on the basis of high probability of their success and targeted to complete them in a short period to assess the success. These projects were treated as pilot projects with a focus to learn. For the selection of the right project the field data was collected, process map was developed and the importance of the project was judged from the eyes of customers. Training: After the set up, the first step of implementation was to build a team of professionals and train them for various stages of Six sigma. The training was spread in five phases: Defining, measuring, analyzing, improving and controlling the process and lastly increasing customer satisfaction. These phases consisted of statistics, bench marking and design of experiments. To find the r ight kind of people and train them was a difficult job. This motivated Wipro to start their own consultancy to train the people. Resources: It was difficult to identify resources that required for short-term basis and longterm basis as it varied from project to project. Wipro did it on the basis of seriousness and importance of the project. Human Resource Policies : Manpower Planning Recruitment & Selection Training & Development Performance Appraisal Promotion, Transfer, & Demotion Welfare Activities

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HUMAN RESOURCE POLICIES OF WIPRO

RECRUITMENT

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Recruitment refers to the process of screening, and selecting qualified people for a job at an organization or fir m, or for a vacancy in a volunteer-based organization or community group. While generalist managers or administrators can undertake some components of the recruitment process, mid- and large- size organizations and companies often retain professional recruiters or outsource some of the process to recruitment agencies. External recruitment is the process of attracting and selecting employees from outside the organization. A. Internal Sources: Promotions and Transfer Job postings Employee Referrals B. External Sources: Advertisement Employment Agencies On campus Recruitment Employment exchanges Education and training institute Recruitment process :WIPRO recruitment process consists of three rounds. Round 1 : Written test 1. Verbal: This section will have 15 questions related to synonyms, antonyms, Analogies, SC, Prepositions and reading comprehension. 2. Aptitude: This section will have 15 questions related to aptitude topics like Time & Work, Time & Distance, Blood Relations, Series Completion, Puzzles, Calendars, Clocks, Percentages, Ratio proportions, Ages, Pipes and Cisterns etc. 3. Technical:

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This section will have 20 questions related to basic technical concepts from C, C++, Java, Linux, UNIX, DBMS, SQL, Programming fundamentals, Hardware, Software Engineering, Micro Processors etc. Candidates are informed to brush up their technical skills which were covered in their regular academic curriculum. Round 2: Technical Interview:This is a major elimination round. Candidates should be thorough with their basic technical skills to clear this round. Candidates are here by informed to be prepared with their core subjects. Round 3: HR Interview:Candidates can expect basic HR inter view questions like Tell me about your self, Why should I hire you, Why only WIPRO, What is SIX sigma level. Candidates will be tested in their communication and vocabulary during technical and HR interviews. Round 4: Placement:Upon Joining, the incumbent shall be given an employee code number by Manager(HR) and he shall fill up the joining for ms and shall submit the same to the Manager(HR) for further course of action. Wipro recruit 40% employees from campus recruitment. Another popular source for Wipros Recruitment is the Online Placement through NSR (National Skill Registry).

TRAINING

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Training The term training refers to the acquisition of knowledge, skills, and competencies as a result of the teaching of vocational or practical skills and knowledge that relate to specific useful competencies. Training & Development of individuals is a key focus area at Wipro. Our Talent Transformation Division handles this. For those with less than one year of experience a well-structured induction training program is conducted. This will cover all aspects of software development skills that are required. _ As a PCMM Level 5 organization, there is also high focus on Competency Development. Talent Transformation has a mandate to provide technical & business skill training based on the departmental and divisional need. All employees are eligible to take training based on the competency gap identified or Project need. In addition to class room training one can take e-Learning with out waiting for class room training. Compliance and Regulatory training is an important aspect in todays regulated environment and is often implemented as part of corporate initiatives. All large companies have mandatory trainings be it in the field of Environment, Health & Safety, Ethics, Risk-Management, Finance, Law, etc.

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Rapid Learning:At Wipro, we know how critical time is for fulfilling training needs and hence we have developed competency in the area of Rapid Learning. An emerging form of content development, Rapid Learning helps to develop content in a short span of time using various tools; the content deliver y can be both synchronous as well as asynchronous. Wipro has strategic partnerships with leading technology providers to help you choose the tool that suits your requirement best. Based on research conducted in this area, Rapid Content Development can be used for any of the following content areas: Critical Training when the training requirement is critical and must be addressed immediately Minor change when the difference between what is known and what is new is minimal Short shelf life when the content in question has a very short shelf life Frequent updates when the content needs to be updated frequently. Process Training: Large enterprises keep updating their processes to improve the efficacies of their systems. Business process training is typically a part of any organization overall change management plan. Wipro provides Process Training in several fields including HR, Quality, Operation, Payroll, Recruitment, and more. For a meaningful transition of the process, quality training is extremely critical. Understanding the complexities involved in rolling out these process trainings, we bring you quick solutions that help deliver effective training for your organization. The components of process training are: 1. Analyze 2. Inform 3. Involve 4. Support

DEVELOPMENT

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Wipro Leaders Qualities Survey, which started in 1992, is one of our oldest leadership development initiatives. It has successfully contributed in our endeavor to nurture top class business leaders in Wipro. We have 8 Wipro Leadership Qualities, which are based on Wipro vision, values and business strategy. In order to identify and help leaders develop these competencies we adopt a 360-degree survey process. This is an end-to-end program, which starts with the obtaining of feedback from relevant respondents and ends with each leader drawing up a Personal Development Plan (PDP) based on the feedback received. The PDP is developed through Winds of Change which is a seven-step program that helps in identifying strengths and improvement areas, and deter mining the action steps. The Leadership developmental framework

Leadership Lifecycle Programs Wipro has developed an approach for Life Cycle Stage Development Plan. Training and development programs at various stages have been designed by mapping the competencies to specific roles. Competencies specify the specific success behaviors at every role.

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Entry-level program (ELP) The program covers the junior management employees with the objective of developing managerial qualities in the employee. The target group is campus hires and lateral hires at junior level. - It is popular ly known as NLP and aims at developing New Leaders Program (NLP) potential people managers, who have taken such roles or are likely to get into those roles in the near future. Wipro Leaders Program (WLP) This program is for middle level leader with people, process, business development and project management responsibilities. These leaders are like the flag bearers of Wipro values and Wipro way of doing business. This is for senior leaders with business Business Leaders Program (BLP) At this level, people are trained up for revenue generation; and Profit & Loss responsibilities. The program covers commercial orientation, client relationship development, and team building and performance management responsibilities among other things. Strategic Leaders Program (SLP) - This program covers top management employees. The focus is on Vision, Values, Strategy, Global Thinking and Acting, Customer Focus and Building Star Performers. Wipro ties up with leading business schools of international repute to conduct this program for Wipro leaders. Custom Content Development As a part of the Custom Content Development Service, Wipro provides innovative and affordable learning content solutions. This ser vice is customized specially to meet your requirements and help you get a competitive edge. Wipros Custom Content Development Service goes through a rigorous development cycle to ensure Quality and Timely Delivery of the solution.

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Custom Content Development Service includes: Application Training Process Training Compliance and Regulatory Training Product Training Rapid Training Solutions

PERFORMANCE APPRAISAL
Performance appraisal is a method by which the job performance of an employee is evaluated in terms of quality, quantity, cost and time. Performance appraisals are regular reviews of employee performance within organizations. Aims of a per formance appraisal : Give feedback on performance to employees. Identify employee training needs. Document criteria used to allocate organizational rewards. Form a basis for personnel decisions: salary increases, promotions, disciplinary actions, etc. Provide the opportunity for organizational diagnosis and development. Facilitate communication between employee and administrator. Validate selection techniques and human resource policies to meet federal Equal Employment Opportunity requirements. Wipros solution aims at strategic value delivery in the least possible time incorporating rich functional features, aided by smooth workflow, notification, authorization, etc. Align employee objectives to the business goals. Enable strategic Performance Management through Management by Objectives (MBO) Measure and Assess employee performance periodically and provide feedback and support to achieve quantitative, qualitative and process targets

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Evaluate and track Hi-Performance and achievers based on Competency driven practices. Enable online Reward and Recognition. Performance Appraisal

PROMOTION Promotion is the advancement of an employee's rank or position in an

organizational hierarchy system. Promotion may be an employees reward for good performance i.e. Positive appraisal. Before a company promotes an employee to a particular position it ensures that the person is able to handle the added responsibilities by screening the employee with inter views and tests and giving them training or on-the-job experience. As per Guidelines for supervisory employees promotion/up gradation, applicable to the present year, Manager (HR) prepares the list of eligible employees. Simultaneously, V P (HR) also asks for recommendations from HODs. A comprehensive list is then prepared by Manager(HR) and submitted to the EPPP which is announced by the Site President, for Executive and Manager family, and by the Group President ( MSD), for Leader Family. Bases Of Promotion : Seniority: Seniority simply depends upon how long the employees is doing job with the company. The length of service and talent are both interrelated with each other. It is based on the tradition of respect for older people. It creates a sense of security among employees and avoids conflict arising from promotion decision Merit: - Merit implies the knowledge, skill and performance records of an employee. It helps to motivate competent employee to work hard and acquire new skills. It helps to attract and retain young and promising employees in the organization.

On the above basis, promotion of employees is done in Wipro. Wipro also prompt employee by conducting different case studies on different aspects of Information Technology. Working at Wipro is very comparative & to get promotion required smart work and projection.

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TRANSFER
Transfers are generally effected to build up a more satisfactory work team and To meet the Organizational requirement / Employees request the employees has been transfer from one assigned job to another or one location to another location. A transfer is a horizontal or lateral movement of an employee from one job, section, department, shift, plant or position to another at the same or another place where his salary, status and responsibility are the same or may be vary. Generally does not involve a promotion, demotion or a change in job status other than movement from one job or place to another. Purposes of Transfers : To satisfy needs of an organization To met employees own needs To utilize workforce To increase the versatility of employees To provide relief Transfer s for the maintenance of a tenure system Every organization should have a just and impartial policy which should be known to each employee. The responsibility for effecting transfers is usually entrusted to an executive with power to prescribe the conditions under requests for transfers are to be approved. For successful transfer policies, it is necessary to have a proper job description and job analysis. A good transfer policy should contain following. i. Specifically clarify the type of transfers and why they are made ii. Deciding the authorized person who may initiate and implement transfer s iii. Indicate the basis of transfer iv. Decide the rate of pay to be given to the transferee v. Intimate the fact of transfer to the person concerned well in advance vi. Be in writing and duly communicated to all concerned vii. Not be made frequent and not for the sake of transfer only.

COMPENSATION

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Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction. Wages and salaries structure is very vital for the retention of the employees as due to stiff competition, if proper salary is not given then the employees will go to those organization offering higher salaries. Jivraj Tea Ltd is actively involved in retaining good manpower in the organization by providing proper salary and incentive methods. Wipro runs 50 offices in India. It has a br anch office in USA, Canada, Europe, Middle east, Africa etc. Payscal of Employee at Wipro Employee Class No of Employee Salary (Rs/Month) A+ Class 128 120000 U.S $ A Class 1240 150000 B+ Class 33000 60000 B Class 22000 40000 Technician 4000 35000 Zero level 3440 10000 Total 63808

EMPLOYEE WELFARE
Employee Welfare According to the Oxford dictionary, employee welfare or labour welfare means the efforts to make life worth living for workmen. Labour Welfare means anything done for the comfort and improvement, intellectual or social, of the employees over and governmental, which is not a necessity of the industry.

Welfare Activities:1.Education : Wipro has its own institute, where the education is given to the employees children absolutely free. The school has classes from JR. kg to classXII in English medium. Free transportation facility is also provided to them. 2.Medical Companys philosophy is Nobody should die without fund. Company believes its responsibility towards health services to provide to the

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employees go beyond the statutory provision. Being the petrochemical industry and some of their process are considered Hazardous. Company recognizes the importance of good occupational health services. Therefore, at the manufacturing sites, they have well equipped, full fledged medical centre, which are manned round the clock. 3. Housing :Company has its own township at different location in Bangalore. If house is available, the new employees are allotted the house otherwise the company can also hire house. All the maintenance in houses provided to employees by company is done by the company. 4. Canteen: The Company gives canteen facility under which food provided to the employees but it is not compulsory for them. They get allowance in their salary. The Contract Cell at Wipro invites tenders and Contract cell signs detailed agreement with the contractor. The operation of canteen is given on the contract. is the the the

5. Sports : To motivate the employees of the company organizes different sports tournaments i.e. Cricket, Volleyball, Table Tennis, Badminton Etc. 6. Recreation activities : For the recr eation of the employee, company organized gets to gather once in a year with their family. And also arranged short distance picnic. For picnic they get Rs. 100/- and free transportation once in a year. 7. Club membership: The purpose of the club membership is to meet the other members of the industrial community and inter act with them for r elation personnel leisure. This facility is provided only to the SMC and above. 8. Insurance Policy: Wipro provides personal accident insurance policy of Rs 100000 for employees. Premium of the company is half pay by employee and other will pay by Wipro

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RETENTION STATEGIES USED BY WIPRO

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STUDY FOR RETENTION STRATEGY:Study of Wipro various reasons for attrition of the employees and also strategies to retain the employees. This study includes general study and also case study of Wipro. Retention management is the latest and most pressing problem of the new Millennium. Each and every business in this economy has now become knowledge based. It has therefore become essential for the top management to preserve the dynamic repositories of learning, which are their employees. Staff retention in the current economic environment is a major challenge. The major focus for employees in hyperinflation environment is survival. If the organization cannot provide enough to enable the employee to survive, the employee is likely to look elsewhere for survival. However if organizations manage to identify causes of staff turnover that they can control, they should target those areas for change or making improvements. NEED FOR THE STUDY: Employers have a need to keep employees from leaving and going to work for other companies. This is true because of the great costs associated with hiring and retraining new employees. The best way to retain employees is by providing them with job satisfaction and opportunities for advancement in their careers. Its not only the cost incurred by a company that emphasizes the need of retaining employees but also the need to retain talented employees from getting poached.

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A study of employee retention in Wipro is taken for the following reasons:

1. Wipro is emerging as one of the top global player in the IT sector. 2. The number of projects in Wipro has been increasing the last two years. 3. Wipro has the highest attrition r ate in the IT industry at 20.3%. 4. The cost of attrition is very high and eats into the profits of the company. 5. The loss from the knowledge pool is very high and can lead to bringing projects to a standstill. 6. The cost and time involved in replacing an employee is very high and it might effect the reputation of the company. 7. Wipro uses a combination of these to succeed in their talent management efforts. The various talents management strategies and the success achieved by Wipro uses following retention strategies: 1. pay and benefits 2. career growth 3. work environment 4. training 5. job satisfaction

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PAY AND BENEFITS: Pay constitutes the largest part of the employee retention process. The employees always have high expectations regarding their compensation Packages. Pay includes salary and wages, bonuses, benefits, prerequisites, stock options, bonuses, vacations, etc. Employee benefits typically refer to retirement plans, health life insurance, life insurance, disability insurance, vacation, employee stock ownership plans etc. Pay is the most important factor responsible for keeping the employees in the organizations. It should be kept competitive to ensure that the employees do not defect to competitors. IT & ITES players are using variable pay as a strategic tool not only to retain but also for taking the best out of their employees. Hewitts research also shows that the services sectors offer variable pay more than capital intensive sectors. The success of a services company lies in its people, and therefore service-oriented organizations are more willing to include a higher variable pay component in their compensation structures. Offering flexible benefits is another way to raise employee satisfaction. In India, some 10-15 percent of companies allow executives to make their own mix of salary packages the study in Wipro was conducted on two factors, viz. Performance based pay and the benefits given to the employees. Performance based pay is accepted well by majority of the employees. The component of Performance based pay in the pay in the pay structure is increasing year by year. However, on one hand when performance based pay motivates an employee to work to his best, care should also be taken to make sure that the component of performance based pay should not be too stressful for the employee. It might so happen that an employee was unable to perform for a particular period considered due to some personal issues, however, he is generally at the top of the performance rating.

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Chart 1: Responses For Pay and Benefits

The above shown graph shows that Pay and benefits is significant for retention of employees

CAREER GROWTH: Career Growth can be defined as a way of success where at every regular interval we must have new challenges to face, new activity to do, responsibilities to handle and most importantly new process to learn. A promotion is the advancement of an employee's rank or position in an organizational hierarchy system Before the company promotes an employee to a

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particular position it ensures that the per son is able to handle the added responsibilities by screening the employee with interviews and tests and giving them training or on-the-job experience. As per Guidelines for supervisory employees promotion/up gradation, applicable to the present year, Manager (HR) prepares the list of eligible employees. Bases of Promotion:1. Seniority: - Seniority simply depends upon how long the employees is doing job with the company. The length of service and talent are both interrelated with each other. It is based on the tradition of respect for older people. It creates a sense of security among employees and avoids conflict arising from promotion decision. 2. Merit:- Merit implies the knowledge, skill and performance records of an employee. It helps to motivate competent employee to work hard and acquire new skills. It helps to attract and retain young and promising employees in the organization. Wipro also prompts employee by conducting different case studies on different aspects of Information Technology. Working at Wipro is very competitive and smart work and projection is required for growth.

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Chart 2: Responses for Career Growth

The above shown graph that career growth is significant for retention of employees

TRAINING AND DEVELOPMENT: According to the recent review by Harvard Business Review, there is a direct link between training investment of the companies and the market capitalization. Those companies with higher training investment had higher market capitalization. It clearly indicates that the companies which have successfully implemented training programs have been able to deliver customer goals with effective results. With the growing investment by IT companies in the development of their employees many companies have now started their own learning centers. Companies are investing in both the technical training, which has always been an essential part in IT industry, as well as in managerial skills development. Companies now keep aside 3-5% of revenue for training programs. As an

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example, some of the major players like Accenture and Wipro are allocating 7% and 3% respectively of the companys overall revenue. Training & Development of individuals is a key focus area at Wipro. Wipro invests about 4 percent of its annual revenues in Learning and Development, to build competency capital within the company in cutting edge technologies, domain and functional areas. Special emphasis is placed on providing necessary learning interventions to associates with potential of being leaders in the company. Wipro has state of the art training facilities in all its delivery centers. The centers are equipped with world- class infrastructure. The Talent Transformation Division handles this in Wipro. For those with less than one year of experience a well-structured induction training program is conducted. This will cover all aspects of software development skills that are required.

Chart 3: Responses for Training and Development

The above given graph proves that training and development is significant for employee retention

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WORK ENVIRONMENT A healthy corporate culture of caring for the workers, community and environment will strengthen the social spiritual capital, leading to a positive work climate of empowered and supported workers. Father N. Casimir Raj, XLRI, and Founder Director of LIBA, said, "There has been a clear shift in the values and this has emerged as one of the key areas of concern as this is being increasingly neglected. A new breed of self approach stands out where the focus is on monetary benefits." Feedback system also plays a major role in building positive work culture in organizations as it provides a channel by which the problems and grievances can be heard by the top management an also a medium by which top management can be updated by the market conditions by the employees which are in direct contact with the market. Wipro as an organization believes in connecting and listening people. There are various communication and feedback programs at Wipro. Chart 4. Response for work environment

This graph proves that a good work environment is significant for retention of employees

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JOB SATISFACTION:

Benefits and high profits are key essentials when it comes to having a high job satisfaction among the companys employees and a low turnover rate. Job satisfaction describes how content an individual is with his or her job. The happier people are within their job, the more satisfied they are said to be Job satisfaction is in regard to one's feelings or state-of- mind regarding the nature of their work. Job satisfaction can be influenced by a variety of factors, e.g., the quality of one's relationship with their supervisor, the quality of the physical environment in which they work, degree of fulfillment in their work, etc..This company goes above and beyond the typical benefits, providing free gourmet meals, onsite oil changes, onsite car washes, a $500 voucher for takeout food after the birth of a child, a free annual ski trip, unlimited sick days, and more. Wipro focuses on job satisfaction in order to keep employees with their company and receive a better output from their employees. Wipro realizes that providing flexible timings to employees is not the only way of increasing job satisfaction. Wipro endows responsibilities to its employees and lets the employee utilize his responsibility. Another measure taken is to respect and nurture every employees work life balance. Sessions are conducted on the importance of work life balance. In Wipro, every employee career path is marked out, helping the employee work correctly and therefore giving the company very satisfied employees.

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Chart 5: Responses for Job Satisfaction

The above given graph proves that on job satisfaction is highly important for employees.

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY Research Methodology is a way to systematically solve the problem .For this purpose, Objectives (research problem) should be clearly defined. Finally, the data is collected in order to meet the objectives of research problem.

WHAT IS RESEARCHThe ADVANCED LEARNERS DICTIONARY of Current English lays down the meaning of research as a careful investigation or inquiry especially through search for new facts in any branch of knowledge.

OBJECTIVES OF THE STUDY 1. To study the factors that affect employee retention in WIPRO. 2. To study the attributes that can be adjusted to retain employees in Wipro Technologies 3. The understand the nature of the work, employment, and labour relationships in WIPRO. 4. To prove how employees retention is essential in this day and age RESEARCH DESIGN It is a conceptual structure with in which research would be conducted. The function of research design is it provide for the collection of maximal relevant information with minimal expenditure of effort, time, and money. In this research problem the research design would be OBSERVATORY in nature.

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OBSERVATORY RESEARCH: This type of research design is rigid in nature. It understands problems creates findings and produces a report for it. In this the researcher must be able to define clearly what he wants to measure and must find adequate method for measuring it with clear definition of population he wants to measure. The main aim is to obtain complete and accurate information. The research design must provide provision for protection against biasness and maximize reliability. SAMPLE DESIGN:

TYPE OF SAMPLING DATA TYPE TYPE OF RESEARCH no has happening DATA COLLECTION TOOL

: : :

Convenient sampling SECONDARY DATA It is an OBSERVATORY Research, in which the researcher has control over the variables he can only report what happened or what is

Secondary

data

includes

reports

and records of the organizations for the past two years and the data collected from the NASSCOM website on the rates of attrition. Research studies conducted by

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individuals, institutions and agencies, and various other journals were considered

ANALYSIS AND INTERPRETATION

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FINDINGS
PAY AND BENEFIT: Wipro has adopted a flexible pay system in which all managerial employees can design their own compensation package based on their individual needs like car, furnishings, etc. the graph shows that compensation pays a vital role in employee retention. CAREER GROWTH: every employee of the organization wishes to have a job profile which will help them to grow further in their career and thus have a bright future. TRAINNG AND DEVELOPMENT: to make employees understand kind of work in the company training is highly important. Proper training session should be conducted for employees. WORK ENVIRONMENT: A friendly working atmosphere needs to be maintained to ensure a healthy working atmosphere. JOB SATISFACTION: employees should be satisfied with the work culture and environment so that they are satisfied with the job and work properly.

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CONCLUSION AND SUGGESTION

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CONCLUSION: A huge fraction of the people have less experience only one to two years in Wipro and hence high level of importance should be given to employee retention All the factor s viz. Pay and Benefits, Career Growth, Training and Development, Work Environment and Job Satisfaction are important for employee retention. For retaining a talent from an age group of 20 to 30 years, the HR manager must concentrate more on career growth and charting out a good career plan When it comes to an employee of an age group of 30 to 40 years, more emphasis must be paid on training and development as without training, this cadre of employees may not be on par with the current technology. Performance Based Pay should be given utmost importance. Employees are happier if they are paid according to their performance and this encourages them to perform better. Benefits are important for retention however with varied opinions. Career Aspirations of all employees have not been met uniformly. However, mentoring in Wipro is pretty successful as most employees feel its being done in the right direction. The data reveals that equal opportunity is not being given to all employees to attend the training programs of their choice. Therefore this aspect should be taken care.

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The opinions regarding the friendliness and approachability of managers seem varied. SUGGESTIONS:

The younger group of employees should be well appreciated to increase their morale to enable them to work better. The experienced group of employees should be exposed to the current case technology to enable them to move forward and not be redundant in the industry.

The HR managers should check on the career paths drawn for all employees. To retain the good talent who are new to the industry, they must be given a pay package according to industry standards. Employees should be rated correctly according to their performance and paid accordingly. The career aspirations of all employees should be carefully under stood by the HR managers and career paths should be designed accordingly. Training provided should be at par with industry standards. All employees should be provided the training of their choice, and no favoritism should be shown amongst the employees

The managers should be friendly and approachable so as to realize the first signs of attrition. If attrition is stopped at the preliminary stage then steps can be taken to curb the same.

Employees should be encouraged to take pride in the work they do

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COMPARISION

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COMPARISION BETWEEN MAIN STRATEGIES AND STRATEGIES USED BY WIPRO 1. CLEAR EXPECTATIONS:The company should set clear expectations in front of its employees. Everything should be clearly mentioned in the code of conduct of the company. This activity is not performed by either of the companies. There are certain changes which are made by the company without giving any prior notice. This creates problem among the employees. 2. TALLENT AND SKILL:There are certain cases where talent and skills of the employees are not encouraged. They are not given a change to prove themselves. There are certain people who are capable enough to get promoted but they are not promoted due to certain clauses of the company. This activity de-motivates the employees. The management should try to motivate its employee to perform well. 3. TIMELY ACTION:It should be always kept in mind that if any activity is performed it should be done on time otherwise it does not have any relevance. In same way if any decision is to be taken regarding employee welfare it should be prompt, so that timely advantage is gained out of it.

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4. LONGETIVITY OF REWARD:The reward given to the employees should be such that they are prolonged and the advantage of it is gained for longer duration of time. 5. REGOGNITION OF WORK:The work assigned to the employees should be initially taught to them, so that in case of any doubt they can clarify it Companies should move toward performance-based rewards, including performance bonuses, gain-sharing and non-monetary recognition. Company should give substantial rewards to those who really deserve them.

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BIBLIOGRAPHY

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Books 1. C. R. Kothari, Research Methodology methods and techniques, Second edition, Wishwa Prakashan year 1997 2. Donald R. Cooper, Pamela S. Schindler. Business Research methods,: Eight editions Tata McGraw-Hill year 2004 3. K. Aswathappa, Organizational Behavior , Fifth editions, Himalaya Publishing House year 1989 4. V.S.P Rao, The Human Resource management text and cases, second editions , Excel Books year 1992

Journals 1. The ICFA In Journal of management and research,Volume V No:2 February 2007, ICFAI university press, Page no 65: Human resource development climate in IT companies in India. 2. HRM review, Employers brand, ICFAI university press, June 2006

Websites http://www.employeeretentionstrategies.com/bottomline.htm http://www.ioma.com/audioconferences/471.html http://www.bpoindia.org/research/retention-strategies-call-center-industry.shtml

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