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International Journal of Multidisciplinary Consortium Volume – 1 | Issue – 2 | September 2014
ijmc.editor@rtmonline.in| http://ijmc.rtmonline.in | ISSN 2349-073X
P u b l i s h e d b y : M o d e r n R o h i n i E d u c a t i o n S o c i e t y | P a p e r I d : 0 4 3 0 2 9
Page 37
A STUDY ON FACTORS AFFECTING EMPLOYEE RETENTION IN RETAIL
SECTOR
by
Anshu Thakur | Assistant Professor | Acropolis Institute of Technology and Research |
Indore M.P | anshuthakur@acropolis.in
ABSTRACT
Availability of the quality employee and its retention becomes more difficult in the present
era of competitive world, because every company is more or less manufacturing or
providing same type of product but only the difference lies in its employee strength which
makes a brand big or small, a company big or small. This research tries to find out what
are those factors which affect the retention of any employee.
KEYWORDS: Retail , Factors, Employee, Retention.
INTRODUCTION
“The best companies now know, without a doubt, where productivity—real and Limitless
productivity—comes from. It comes from challenged, empowered, excited, rewarded
teams of people. It comes from engaging every single mind in the organization, making
everyone part of the action, and allowing everyone to have a voice—a role—in the success
of the enterprise. Doing so raises productivity not incrementally, but by Multiples.”
Jack Welch ,Former Chairman and CEO of General Electric
Employee retention is emerging as the most complicated and challenging workforce
management of the immediate future. Many researchers have shown that in the future,
successful organizations will be those which adapt their organizational behaviour to
the realities of the current work environment where longevity and success depend
upon innovation, creativity and flexibility. In fact, the dynamics of the work environment
will have to reflect a diverse population comprised of individuals whose motivations,
beliefs and value structures differ vastly from the past and from one another.
According to The HR Priorities Survey from ORC Worldwide an HR consulting and data
services firm, nearly 62 percent of respondents to their survey opined that talent
management will be the most pressing strategic issue they face in year. The findings of the
survey also indicated that 33 percent of talent management programs include workforce
acquisition, assessment, development, and retention as areas that will consume most of the
survey respondents' time this year 2007. Retention has emerged as the focus of much time
and attention in recent years, particularly as part of talent management programs, and so
much is known about it that the HR practitioner who tries to integrate it into a talent
program may grow confused by the huge volume of research about it. Employee retention
is more than just keeping employees on the job. It is also about sustaining employees,
International Journal of Multidisciplinary Consortium Volume – 1 | Issue – 2 | September 2014
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primarily by enhancing their job satisfaction. Job satisfaction, in turn, can increase
productivity and keep employees energized and motivated to give their best. Job
satisfaction can equate to employees who stick with their current employer and strive to
perform at or above expectations and standards. Employee retention is commonly
considered to mean the ability to maintain a stable workforce. It is often linked to morale
and to organizational productivity. Retention is thus the opposite of turnover, a well-
known concept.In addition the perception of having a job for life in a public sector role no
longer exists. The trend for the younger generation of workers is to shift from job to job
and this is becoming a norm of society. Companies that can recruit the best talent and
retain them will have an edge in the long run.“Today talented persons are like frogs in a
wheelbarrow, which can jump at any point of time when they sense opportunities”
ATTRITION RATE IN DIFFERENT COUNTRIES ROUND THE GLOBE
ATTRITION RATE (%)
US 42%
Australia 29%
Europe 42%
India 18%
Global Average 42%
Table : 1 Attrition Rate In Different Countries Round The Globe
ATTRITION RATES IN DIFFERENT SECTORS
Following chart shows attrition rate in different sectors in India:
Fig. 1 Attrition Rates In Different Sectors
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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:
Family orientation
Quality of life issues
Autonomy
To hold onto your people, you have to work counter to prevailing trends causing the job
churning. Smart employers make it a strategic initiative to understand what their people
want and need - then give it to them. The study has been conducted with the following
objectives
To study the various factors affects Employee Retention among Retail sector
employees.
To study the importance of factors causing Employee Retention.
To study the benefits of Employee Retention.
To study need of all employees is same or different.
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To find right strategy for particular factor.
To find the rank of factors of Employee Retention.
To study the relationship between Employee Retention & Productivity.
To increase awareness of the importance of employee retention.
LITERATURE REVIEW
Warner Cable (2009) any organization's best asset is its workforce. Moncarz. E. et
al.(2009)The findings reveal that Corporate Culture, Hiring and Promotions and Training
practices influence non-management employee retention. Chung.T.L. et.al.(2012) The
study suggests that perceived organizational support, role ambiguity, and emotional
exhaustion are the most influential factors for most facets of retail employees’ job
satisfaction. Sinhala.C.et al.(2012) The study explores to identify the main factors of
retention management strategies in organizations. The factor analysis of the component
‘retention management strategies’ led to the extraction of 3 factors each from both the
organizations. The factors for EEPL* were “competence & relationship oriented”,
“scholastic & futuristic oriented” and “developmental & reward oriented”; while for
MBPL*, the factor were “relationship oriented”, “competence & scholastic oriented” and
“reward oriented”. The results indicate that these factors have substantial roles to play in
making employees stay and how at middle managerial level different aspects are valued
while deciding upon the retention strategies in similar contexts (i.e. sector).T.
Stephen(2000) suggests that the retention effect is limited in terms of both its potency and
its extent. A particular finding is the varying importance of pension schemes in terms of
the retention of different staff groups. Taylor.J.L.et al.(2006)suggest that a proper cause
and effect process will produce a desired path to change.Anis.et.al (2011) attracting and
retaining key employees should be a top priority for any company worth its salt. Gberevbie
E.D. (2010) it is more profitable for organizations to put in place appropriate employee-
retention strategies such as good organization's image, staff participation in decision
making, enhanced and regular salary package, and humane treatment of employees as
strategies for organizational performance. Pascal Paillé et al (2011)show that the model
that best fits the data is the one in which both affective commitments to the dispatcher and
to the colleagues affects the intention to leave the organization through affective
commitment to the organization. Hong.C.L. et al(2008) Study results revealed that
organizational climate has a significant association with employees’ intention to leave. All
the four organizational climate Dimensions had significant negative correlations with
employees’ intention to leave. Meanwhile, both the dominance and sociability
personalities were found significantly moderating the relationship between organizational
climate and employees’ intention to leave. This study was therefore able to prove the
hypotheses proposed and provide support to the existing theories. Bhatnagar J(2007)The
results were in the expected direction and fulfilled the research aims of the current study.
In the first phase low factor loadings indicated low engagement scores at the beginning of
the career and at completion of 16 months with the
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organization. High factor loadings at intermediate stages of employment were indicative of
high engagement levels, but the interview data reflected that this may mean high loyalty,
but only for a limited time. In the second phase factor loadings indicated three distinct
factors of organizational culture, career planning along with incentives and organizational
support. The first two were indicative of high attrition.Bairi.J.et al (2011)The paper
provides evidence of various strategic, technological, and local issues influencing the
success of retention and its benefit to KM programs in global IT service companies.
Organizations adapt attrition control measures for long-term benefit. These measures help
in effective KM, serving the client at lower cost with consistent service levels. Govaerts N
et al (2011)The results show that when organizations want to retain their employees it is
important to pay attention to the learning of employees. Letting people do more and learn
more of what they are good at will encourage them to stay with the organization. Results
concerning the selected employee variables show that only age has a significant
relationship with retention. Regarding the intention to stay, there exists a positive
relationship between age and retention. Strothmann M et al(2011)Respondents reported
that initiatives related to professional development are the most widely available type.
Respondents expressed satisfaction with most of the initiatives available to them and
general agreement with positive workplace environment statements; however,
administrators were substantially more satisfied than employees in other positions. Few
indicated that their libraries had adopted a formal retention program, implying that the
reported retention strategies are generally seen as serving another purpose. Varkkey.B.et
al(2011) The paper argues that, post recession the companies whose decisions were pro-
labor retention (hoarding) oriented were able to come back in business stronger and
perform better.
Srivastava P et al (2008) by reflecting recruitment and culture need fit, an environment is
created at the workplace where employees feel more passionate about their work and
exhibit the behaviors that organizations need to drive better results.
METHODOLOGY
The research will be conducted on various factors which affect Employee Retention
among employees working in Retail Sector.
A sample of 50 employees in Retail sector like Retail stores, Retail Banking. I use random
Sampling for collection of data.
Structures questionnaire has be used as a tool for Primary data collection in this study
from employees of different public sector companies. In questionnaire, nearly 12-15
determinants was there and with the use of rating scale people will give their opinion.
Secondary data has been obtained from published journals, company broachers, books,
internet, etc.
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DATA ANALYSIS
The data will be analyzed using percentage based analysis with the help of bar graphs and
Pie Charts and through factor analysis method.
Which of the factor influence an employee to stay or leave the organization?
0% 32% 52% 4% 12% 0% 0%
1. Which of the factor influence an employee to stay or leave the
organization?
Fig. 2 factor influence an employee to stay or leave the organization
Interpretation: according to questionnaire filled by employees of retail sector they mainly
focuses on GROWTH OPPORTUNITIES to retain in organization than any other factor,
but here is also another factor which closely compete this factor is ENVIRONMENT.
Under motivation fit, where does the reason lie for an employee to leave the
organization?
28%
4%24%
28%
12%
4%
2. Under motivation fit, where does the reason lie for an employee to leave
the organization?a) Quality of relationship with supervisor or manager
b) Amount of meaningful work
c) Clear understanding of work objectives
d) Level of challenges in work
Fig.3 Reason lie for an employee to leave the organization
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Interpretation: under motivation fit there are three factors each simultaneously compete
each other are a) Quality of relationship with supervisor or manager, c) Clear
understanding of work objectives, d) Level of challenges in work.
Under Home life, where does the reason lie for an employee to leave the
organization?
60%
40%
0
0 Under Home life, where does the reason lie for an employee to leave the
organization?
a) Ability to balance work and home life
b) Desirability of employee’s geographic location.
Fig. 4 Employee Retention is balance between personal and professional
Interpretation: Under Home life fit, factor which affects Employee Retention is balance
between personal and professional life.
Under company direction, where does the reason lie for an employee to leave the
organization?
0% 10% 20% 30% 40%
a) Quality of mission and …b) Ability of organization’s …
c) In effective policiesd) In effective administration
36%
8%32%
24%
Column2
Fig. 5 Employee Retention is Quality of mission and strategy from senior management
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Interpretation: Under Company Direction factor which affects the Employee Retention is
Quality of mission and strategy from senior management.
Under Co-operation and trust, where does the reason lie for an employee to leave the
organization?
0%
10%
20%
30%
40%
50%
60%
Level of co-operation and trust with co workers
b) Level of co-operation and trust with supervisorc) Level of co-operation and trust with sub-ordinatesd) Level of trust in workplace
60%
20%
4%
16%
5. Under Co-operation and trust, where does the reason lie for an employee to leave
the organization?
Fig. 6 Co-operation and trust with co workers than any other factor
Interpretation: Under Co-operation and trust fit factor which affects Employee Retention
is Level of co-operation and trust with co workers than any other factor.
Effectiveness Of Various Strategies Which Is Currently Practiced
42
34
24
38
26
34
46
50
26
32
30
46
12
12
32
20
30
12
0
4
10
4
12
8
0
0
8
6
2
0
0 10 20 30 40 50 60
Profit sharing
Open culture
Exit interview
Survey of retained …
Job enrichment
Survey feedback
Highly ineffective
Ineffective
Neutral
Effective
Highly effective
Fig. 7 Effectiveness of various strategies
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Interpretation: Major result on Effectiveness of various strategies which is currently
practiced
Profit sharing - Effective
Open culture - Effective
Exit interview - Neutral
Survey of retained employees – Highly Effective
Job enrichment –Effective & Neutral
Survey feedback- Effective
Building Brand Recognition Is A Tool Of Retention.
42%
38%
14%
6%
0%
Building brand recognition is a tool of retention.
a)Strongly agree b) Agree c) Neutral d) Disagree e)Strongly disagree
Fig. 8 Building Brand Recognition
Interpretation: According to survey unanimously accepted by Employees that Brand
recognition plays vital role in Employee Retention.
What according to you is retention in your organization?
I. Retaining employees
Options a)Strongly agree b) Agree c) Neutral d) Disagree e)Strongly
disagree Percentage 38% 50% 10% 2% 0%
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II. Retaining talent
Options a)Strongly agree b) Agree c) Neutral d) Disagree e)Strongly
disagree Percentage 36% 50% 14% 0% 0%
38
50
10
2 0
36
50
14
0 00
10
20
30
40
50
60
a)Strongly agree
b) Agree c) Neutral d) Disagree e)Strongly disagree
What according to you is retention in your organization?
A) Retaining employees
B) Retaining talent
Fig. 9 Retention in your Organization
Interpretation: This answer proves that Top management and Employees believe that
Indian organizations are focusing on both retaining employees as well as talent.
H01 There is no significant difference in the mean value of Employee Retention in the
organisation.
H11 There is a significant difference in the mean value of Employee Retention in the
organisation.
One-Sample Test
Test Value = 0
t df Sig. (2-
tailed)
Mean
Difference
95% Confidence Interval of
the Difference
Lower Upper
VAr 16.625 49 .000 1.52000 1.3363 1.7037
Table 2 : significant difference
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Interpretation: Null hypothesis has been rejected and alternate hypothesis has been
accepted hence it can be said that employees retention has important role in the
organisation(p=.000<.050)
H02 There is no significant difference in the mean value of identification of retention
faction by
HR during interview.
H22 There is a significant difference in the mean value of identification of retention factor
by
HR during interview.
One-Sample Test
Test Value = 0
t df Sig. (2-
tailed)
Mean
Difference
95% Confidence Interval of
the Difference
Lower Upper
VAr 18.198 49 .000 1.68000 1.4945 1.8655
Table 3 : significant difference
Interpretation: Null hypothesis has been rejected and alternate hypothesis has been
accepted , hence can be said that there is a significant difference in the mean value of
identification of retention factor by HR during interview(p=.000<.050)
RELIABILITY STATISTICS
Cronbach's Alpha N of Items
.705 11
Table 4 : Reliability Statistics
As we can see Reliability is .6<.705 so ,reliability is more than standard limit.
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FACTOR ANALYSIS
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .711
Bartlett's Test of Sphericity
Approx. Chi-Square 67.699
Df 55
Sig. .317
Table 5 : KMO and Bartlett's Test
Component
1 2 3 4 5 6
Profit sharing .546 .237 -.126 -.180 -.460 .099
open culture .172 -.380 .716 .199 -.083 .200
exit interview .047 .337 -.568 .572 -.172 -.008
survey of retained
employee .080 -.365 -.323 .179 .480 .579
job enrichment .620 .039 -.082 .122 .506 -.278
survey feedback -.291 .620 -.054 .086 .178 .483
brand recognition .672 .354 .130 .129 -.369 .195
retaining employee .171 .473 .385 .408 .425 -.338
retaining talent .498 -.061 -.337 -.580 .265 -.098
employee retention is
important .506 -.440 .042 .271 -.003 .253
factor in interview .076 .520 .350 -.426 .240 .333
Table 6 : Component Matrixa
Extraction Method: Principal Component Analysis.
Result : 6 components extracted are:
1. Profit sharing
2. Retaining talent, retaining employee
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3. factor in interview & exit interview
4. survey of retained employee & brand recognition
5. survey feedback
6. Open culture & job enrichment.
FINDINGS FROM THE STUDY
Survey is conducted on the retail sector employees and reveals very crucial facts and
figures are:-
It’s really shocking by analyzing factor which affects most to Employees is not
Monetary Benefits, it’s proven that it’s a myth that people can be Retain in
organization by money.
Performance appraisal without any bias enhances the chances of growth, Equality
given to each employee to prove their talent increases Employee retention.
Welfare strategies for employees satisfy employees and make them happy and
increase employee engagement.
People are still confused with Retaining employee and Retaining talent concept and
knowledge of HR terminologies and beliefs and its need to create awareness.
Brand name affects employee retention.
Level of trust and coordination, relationship among employees majorly affects
employee retention.
Level of challenges of work and stress is also reason of employees attrition.
SUGGESTIONS & RECOMMENDATIONS
According to survey employees believe that it is possible to find out Retention Factor
of any employee at the time of interview if a HR feels that Interviewees demand is out
of competency of company so it’s better to reject that employee or to be prepared for
attrition of that employee.
Participation of employees in management, open door policies, employee welfare
programmes, training and development programmes should be conducted.
Support of staff and management in work place plays a kind of relaxation for
employee and they can work with comfort and productivity will increase and
absenteeism decrease.
Importance and respect should be given to employees.
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Proper guidance and clarification with the goals will help to reduce stress in
organization and employee will proceed in right direction and after achievements of
goal it helps to increase employee’s morale and organization commitments.
CONCLUSION
It is HR's job, though not HR's job alone, effective human resource management practices
at both the strategic and day-to-day levels. That is, to be effective, human resource
management practices must be grounded in two ways.
First, they must reflect companywide commitments as to how it will manage and relate to
its employees.
Secondly, HR must implement these commitments so that the ideals of the enterprise and
deeds of its agents are congruent.
HR plays a key role in the development and execution of the Business Strategy of an
Organization. It should evolve from a transactional support role to partnering in the
organization's business strategy.
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Annexure &Questionnaires
QUESTIONNAIRE
The questionnaire is meant for Major Research Project on “A study on factors which
affects Employee Retention in Retail Sector”. The information provided by you would
be kept strictly confidential & will be used solely for academic purpose.
NAME:
ORGANISATION:
DESIGNATION:
AGE:
NOTE: Please select your answers by ( ) symbol.
1. Which of the factor influence an employee to stay or leave the organization?
a) Monetary Benefits
b) Environment
c) Growth Opportunities
d) Relationship in Organization
e) Nature of work
f) Psychology Factor
g) Personal Factors
h) External Factors
2. Under motivation fit, where does the reason lie for an employee to leave the
organization?
a) Quality of relationship with supervisor or manager
b) Amount of meaningful work
c) Clear understanding of work objectives
d) Level of challenges in work
e) Autonomy – Freedom to direct work
f) How well individual goals and style matches with the organization.
International Journal of Multidisciplinary Consortium Volume – 1 | Issue – 2 | September 2014
ijmc.editor@rtmonline.in| http://ijmc.rtmonline.in | ISSN 2349-073X
P u b l i s h e d b y : M o d e r n R o h i n i E d u c a t i o n S o c i e t y | P a p e r I d : 0 4 3 0 2 9
Page 53
3. Under Home life, where does the reason lie for an employee to leave the
organization?
a) Ability to balance work and home life
b) Desirability of employee’s geographic location.
4. Under company direction, where does the reason lie for an employee to leave the
organization?
a) Quality of mission and strategy from Senior management
b) Ability of organization’s selection process
c) In effective policies
d) In effective administration
5. Under Co-operation and trust, where does the reason lie for an employee to leave the
organization?
a) Level of co-operation and trust with co workers
b) Level of co-operation and trust with supervisor
c) Level of co-operation and trust with sub-ordinates
d) Level of trust in workplace
Effectiveness of various strategies which is currently practiced
S.No Strategies Highly
effective
Effective Neutral Ineffective Highly
ineffective 6. Profit sharing
7. Open culture
8. Exit interview
9. Survey of retained
employees
10. Job enrichment
11. Survey feedback
12. Building brand recognition is a tool of retention.
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
13. What according to you is retention in your organization?
I. Retaining employees
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
II. Retaining talent
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
International Journal of Multidisciplinary Consortium Volume – 1 | Issue – 2 | September 2014
ijmc.editor@rtmonline.in| http://ijmc.rtmonline.in | ISSN 2349-073X
P u b l i s h e d b y : M o d e r n R o h i n i E d u c a t i o n S o c i e t y | P a p e r I d : 0 4 3 0 2 9
Page 54
14. Employee Retention plays important role in an Organization?
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
15. Does the HR can identify retention factor of interviewee at the time of retention?
a) Strongly agree b) Agree c) Neutral d) Disagree e) Strongly disagree
EXCEL SHEET ENTRIES ACCORDING TO RESPONSE BY PEOPLE
responde
nt no.
Profit
sharing
open
culture
exit
interview
survey of
retained
employee
job
enrichment
survey
feedback
brand
recognition
retaining
employee
retaining
talent
employee
retention is
important
factor in
interview
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