09-04-2014, 04:49 PM
A STUDY ON EMPLOYEE RETENTION AMONG EXECUTIVES AT BGR ENERGY SYSTEMS LTD, CHENNAI
STUDY ON EMPLOYEE RETENTION.docx (Size: 28.65 KB / Downloads: 14)
ABSTRACT
The employee retention program at BGR Energy consists of only basic daily needs of the
employee. Employees are found to be dissatisfied with it. This is found to be the threatening
factor for higher employee turnover rate. To study the opinion of executives on employee
retention attributes at BGR Energy a sample of 109 respondents from executives’ cadre using
descriptive research design under convenience study. The questionnaire forms the basic source
of primary data, while secondary data was collected through books and through online journals,
magazines, project report. The data collected was analyzed using ANOVA, Rank correlation,
Weighted Average Method, Regression, Chi square and Percentage Analysis. The analysis on the
collected data revealed that the Employees have given highest weighting to comfortableness in
working hours and are not satisfied with annual increments provided. Gender has significant
relationship with work life balance. Correlation between job satisfaction and working condition
leads to employee retention. The departments also have influence on it. The factors that had a
greater influence on employee retention were career opportunities, work life balance and
recognition at BGR Energy.
INTRODUCTION
EMPLOYEE RETENTION
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 don’t 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 don’t, they would be left
with no good employees. A good employer should know how to attract and retain its employees.
Retention involves five major things: Compensation, Support, Relationship, Environment.
COMPANY PROFILE
The Company was originally incorporated in 1985, as a joint venture between GEA
Energietechnik GmbH, Germany and the Promoter, Mr. B.G. Raghupathy, to manufacture and
sell On-line Condenser Tube Cleaning Systems, Debris Filters and Rubber Cleaning Balls used
in Thermal and Nuclear Power Plants. In 1993 Mr. B. G. Raghupathy and members of his
family became the sole shareholders of the Company and began to expand the range of product
and services range in the Power and Oil & Gas industries. On June 28, 2007 the Company name
was changed from GEA Energy System (India) Limited, to BGR Energy Systems Limited.BGR
Energy carries on the business in two segments, the Supply of systems and Equipment and
Turnkey Engineering project contracting.
CONCLUSION
Effective human resource management must be practiced at both strategic and day-to-day levels.
HR management practices must reflect company policy as to how it will manage and relate to its
employees.