CONTENTS Page No. CHAPTER-I
INTRODUCTION NEED FOR THE STUDY OBJECTIVES OBJECTIVE S OF THE STUDY SCOPE OF THE STUDY METHODOLOGY
LIMITATIONS
CHAPTER-II
LITERATURE REVIEW
CHAPTER-III
ORGANIZATION PROFILE
CHAPTER-IV
DATA ANALYSIS & INTERPRETATION IN BIGBAZAAR
CHAPTER-IV
CONCLUSION
CHAPTER-V
BIBLIOGRAPHY QUESTIONNAIRE
1
CHAPTER-I INTRODUCTION
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HUMAN RESOURCE MANAGEMENT
Human Human Resour Resource ce Managem Management ent (HRM) (HRM) is te !uncti !unction on "it "it in an organi organi#at #ation ion tat tat !ocuses or recruitment o!$ management o!$ an% &ro'i%ing %irection !or te &eo&e "o "or in te organi#ation$ uman Resource Management can aso *+ &er!orme% *+ ine managers.
Human Resource Management is te organi#ationa !unction tat %eas "it issues reate% to &eo& &eo&ee suc suc as com& com&en ensa sati tion$ on$ iri iring ng$$ &er! &er!or orma manc ncee manag managem ement ent$$ orga organi ni#a #ati tion on %e'e %e'eo&m o&ment ent$$
sa!e sa!et+ t+$$
"e "ene ness ss$$
*ene *ene!i !its ts$$
em& em&o+ o+ee ee
moti mo ti'a 'ati tion$ on$
comm communi unicat catio ion$ n$
a%ministration$ an% training.
A%mini A%ministr strati ati'e 'e acti'i acti'itie tiess associ associate ate% % "it "it um uman an resour resources ces &anni &anning$ ng$ recrui recruitm tment ent$$ seection$ orientation training$ a&&raisa$ moti'ation$ remuneration$ etc. Human Resource Management aims at %e'eo&ing &eo&e troug "or.
•
Organi#ations are not mere *rics$ mortar$ macineries or in'entories. Te+ are &eo&e. ,t is te &eo&e "o sta!! an% manage organi#ations.
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HRM in'o' in'o'es es te a&&ic a&&icati ation on o! manage management ment !uncti !unctions ons an% &rinci &rinci&e &es. s. Te !unctions an% &rinci&es are a&&ie% to ac-uisitioning$ %e'eo&ing$ maintaining$ an% remunerating em&o+ees in organi#ations.
•
ecisions reating to em&o+ees must *e integrate%. ecisions on %i!!erent as&ects o! em&o+ees must *e consistent "it oter uman resource (HR) %ecisions.
•
ecisions ma%e must in!uence te e!!ecti'eness o! an organi#ation. E!!ecti'eness an organi#ation must resut in *etterment o! ser'ices to customers in te !orm o! ig/-uait+ &ro%ucts su&&ie% at reasona*e costs.
•
HRM !uncti !unctions ons are not con!ine con!ine% % to *us *usine iness ss esta* esta*is ismen ments ts on+. on+. Te+ Te+ are a&&ica*e a&&ica*e to non/*usines non/*usinesss organi#at organi#ations$ ions$ too$ suc as e%ucation$ e%ucation$ eat care$ recreation$ an% te ie.
0
Intro!"t#on Intro!"t#on on E$%o'(( R(t(nt#on) Em&o+ee Em&o+ ee Retent Retention ion in'o'es taing measures to encour encourage age em&o+ees to remai remain n in te organi#ation !or te maimum &erio% o! time. Cor&orate is !acing a ot o! &ro*ems in em&o+ee retention tese %a+s. Hiring no"e%gea*e &eo&e !or te o* is essentia !or an em&o+er. 3ut retention is e'en more im&ortant tan iring. Tere is no %eart o! o&&ortuniti o&&ort unities es !or a taen taente% te% &erson. Tere are man+ organ organi#ati i#ations ons "ic are ooing !or suc em&o+ees. ,! a &erson is not satis!ie% *+ te o* e4s %oing$ e ma+ s"itc o'er to some oter more suita*e o*. ,n to% to%a+4 a+4ss en' en'iro ironme nment nt it *eco *ecomes mes 'er 'er+ + im im&or &ortan tantt !or or organ gani#a i#atio tions ns to ret retain ain te teir ir em&o+ees. Te to& organi#ations are on te to& *ecause te+ 'aue teir em&o+ees an% te+ no" o" to ee ee& & te tem m gu gue% e% to te organi#a organi#atio tion. n. Em& Em&o+ o+ees ees sta sta+ + an% ea ea'e 'e organi org ani#at #ation ionss !or som somee rea reason sons. s. Te rea reason son ma+ *e &er &erson sona a or &ro &ro!es !essi siona ona.. Te Tese se reas re ason onss s sou ou% % *e un% un%er erst stoo% oo% *+ t tee em em& &o+ o+er er an% s sou ou% % *e ta tae en n ca care re o! o!.. T Tee organi#ations are *ecoming a"are o! tese reasons an% a%o&ting man+ strategies !or em&o+ee retention.
A. Com&ensation 3. Gro"t C. Su&&ort . Reationsi& E. En'ironment
A* Co Co$% $%(n (n+, +,t# t#on on
Com&ensation constitutes te argest &art o! te em&o+ee retention &rocess. Te em&o+ees a"a+s a'e ig e&ectations regar%ing teir com&ensation &acages. Com&ensation &acages 'ar+ !rom in%ustr+ to in%ustr+. So an attracti'e com&ensation &acage &a+s a critica roe in retaining te em&o+ees. Com&ensation incu%es
5
saar+ an% "ages$ *onuses$ *ene!its$ &rere-uisites$ stoc o&tions$ 'acations$ etc. 6ie setting u& te &acages$ te !oo"ing com&onents sou% *e e&t in min%7 S,,r' ,n $ont' .,/() ,t is te *iggest com&onent o! te com&ensation &acage. ,t
is aso te most common !actor o! com&arison among em&o+ees. ,t incu%es
3asic "age
House rent ao"ance
earness ao"ance
Cit+ com&ensator+ ao"ance
B*Gro.t
Gro"t an% %e'eo&ment are te integra &art o! e'er+ in%i'i%ua4s career. ,! an em&o+ee can not !oresee is &at o! career %e'eo&ment in is current organi#ation$ tere are cances tat e4 ea'e te organi#ation as soon as e gets an o&&ortunit+. Wor0 %ro1#() Te "or &ro!ie on "ic te em&o+ee is "oring sou% *e in
s+nc "it is ca&a*iities. Te &ro!ie sou% not *e too o" or too ig. P(r+on, /ro.t ,n r(,$+) Em&o+ees res&onsi*iities in te organi#ation
sou% e& im acie'e is &ersona goas aso. Organi#ations can not ee& asi%e te in%i'i%ua goas o! em&o+ees an% !oster organi#ations goas. Em&o+ees4 &riorit+ is to "or !or tem an% ater on comes te organi#ation. ,! e4s not satis!ie% "it is gro"t$ e4 not *e a*e to contri*ute in organi#ation gro"t.
Tr,#n#n/ ,n (2(o%$(nt) Em&o+ees sou% *e traine% an% gi'en cance to
im&ro'e an% enance teir sis. Man+ em&o+ers !ear tat i! te em&o+ees are "e raine%$ te+4 ea'e te organi#ation !or *etter o*s. Organi#ation sou% not imit te resources on "ic organi#ation4s success %e&en%s. Tese trainings can *e gi'en to im&ro'e man+ sis ie7
8
•
Communications sis
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Tecnica sis
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,n/ouse &rocesses an% &roce%ures im&ro'ement reate% sis
•
C or customer satis!action reate% sis
•
S&ecia &roect reate% sis
Nee% !or suc training can *e recogni#e% !rom in%i'i%ua &er!ormance re'ie"s$ in%i'i%ua meetings$ em&o+ee satis!action sur'e+s an% *+ *eing in constant touc "it te em&o+ees. C* S!%%ort
9ac o! su&&ort !rom management can sometimes ser'e as a reason !or Em&o+ee retention. Su&er'isor sou% su&&ort is su*or%inates in a "a+ so tat eac one o! tem is a success. Management sou% tr+ to !ocus on its em&o+ees an% su&&ort tem not on+ in teir %i!!icut times at "or *ut aso troug te times o! &ersona crisis. Management can
su&&ort
em&o+ees
*+
&ro'i%ing
tem
recognition
an%
a&&reciation.
Em&o+ers can aso &ro'i%e 'aua*e !ee%*ac to em&o+ees an% mae tem !ee 'aue% to te organi#ation. Te !ee%*ac !rom su&er'isor e&s te em&o+ee to !ee more res&onsi*e$ con!i%ent an% em&o"ere%. To& management can aso su&&ort its em&o+ees in teir &ersona crisis *+ &ro'i%ing &ersona oans %uring emergencies$ ci%care ser'ices$ em&o+ee assistance &rograms$ counseing ser'ices.
Em&o+ers can aso su&&ort teir em&o+ees *+ creating an en'ironment o! trust an% incucating te organi#ationa 'aues into em&o+ees. Tus em&o+ers can su&&ort teir em&o+ees in a num*er o! "a+s as !oo"s7 •
3+ &ro'i%ing !ee%*ac
:
•
3+ gi'ing recognition an% re"ar%s
•
3+ counseing tem
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3+ &ro'i%ing emotiona su&&ort
D*R(,t#on+#%
Sometimes te reationsi& "it te management an% te &eers *ecomes te reason !or an em&o+ee to ea'e te organi#ation. Te management is sometimes not a*e to &ro'i%e an em&o+ee a su&&orti'e "or cuture an% en'ironment in terms o! &ersona or &ro!essiona reationsi&s. Tere are times "en an em&o+ee starts !eeing *itterness to"ar%s te management or &eers. Tis *itterness cou% *e %ue to man+ reasons. Tis %ecreases em&o+ee4s interest an% e *ecomes %e/moti'ate%. ,t ea%s to ess satis!action an% e'entua+ attrition.
A su&&orti'e "or cuture e&s gro" em&o+ee &ro!essiona+ an% *oosts em&o+ee satis!action. To enance goo% &ro!essiona reationsi&s at "or$ te management sou% ee& te !oo"ing &oints in min%. •
R(+%("t 1or t( #n#2#!,) Res&ect !or te in%i'i%ua is te must in te
organi#ation. •
R(,t#on+#% .#t t( #$$(#,t( $,n,/(r) A manger &a+s te roe o! a mentor
an% a coac. He %esigns an%s &ans "or !or eac em&o+ee. ,t is is %ut+ to in'o'e te em&o+ee in te &rocesses o! te organi#ation. So an organi#ation sou% ire managers "o can mae an% maintain goo% reations "it teir su*or%inates. •
R(,t#on+#% .#t "o(,/!(+) Promote team "or$ not on+ among teams *ut in
%i!!erent %e&artments as "e. Tis "i in%uce com&etition as "e as im&ro'e te reationsi&s among coeagues.
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R("r!#t .o( (,rt(') An em&o+ee sou% *e recruite% i! tere is a &ro&er
&ace an% %uties !or im to &er!orm. Oter"ise e4 !ee useess an% "i *e ;
%issatis!ie%. Em&o+ees sou% no" "at te organi#ation e&ects !rom tem an% "at teir e&ectation !rom te organi#ation is. ei'er "at is &romise%. •
Pro$ot( ,n ($%o'(( 3,+( "!t!r() Te em&o+ee sou% no" tat te
organi#ation is tere to su&&ort im at te time o! nee%. So" tem tat te organi#ation cares an% e4 so" te same !or te organi#ation. An em&o+ee *ase% cuture ma+ incu%e %ecision maing autorit+$ a'aia*iit+ o! resources$ o&en %oor &oic+$ etc. •
In#2#!,
(2(o%$(nt)
Taing
&ro&er
care
o!
em&o+ees
incu%es
acno"e%gement to te em&o+ee4s %reams an% &ersona goas. Create o&&ortunities !or teir career gro"t *+ &ro'i%ing mentorsi& &rograms$ certi!ications$ e%ucationa courses$ etc. •
In!"( o',t') Organi#ations sou% *e o+a as "e as te+ sou% &romote
o+at+ in te em&o+ees too. Tr+ to mae te current em&o+ees sta+ instea% o! recruiting ne" ones. E* En2#ron$(nt
,t is not a*out managing retention. ,t is a*out managing &eo&e. ,! an organi#ation manages &eo&e "e$ em&o+ee retention "i tae care o! itse!. Organi#ations sou% !ocus on managing te "or en'ironment to mae *etter use o! te a'aia*e uman assets. Peo&e "ant to "or !or an organi#ation "ic &ro'i%es •
A&&reciation !or te "or %one
•
Am&e o&&ortunities to gro"
•
A !rien%+ an% coo&erati'e en'ironment
•
A !eeing tat te organi#ation is secon% ome to te em&o+ee
Or/,n#4,t#on (n2#ron$(nt #n"!(+
<
•
Cuture
•
=aues
•
Com&an+ re&utation
•
>uait+ o! &eo&e in te organi#ation
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Em&o+ee %e'eo&ment an% career gro"t
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Ris taing
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9ea%ing tecnoogies
•
Trust
T'%(+ o1 (n2#ron$(nt t( ($%o'(( n((+ #n ,n or/,n#4,t#on •
L(,rn#n/ (n2#ron$(nt) ,t incu%es continuous earning an% im&ro'ement o! te
in%i'i%ua$ certi!ications an% &ro'ision !or iger stu%ies$ etc. •
S!%%ort (n2#ron$(nt) Organi#ation can &ro'i%e su&&ort in te !orm o! "or/i!e
*aance. 6or i!e *aance incu%es7
•
o
?ei*e ours
o
Teecommuting
o
e&en%ent care
o
Aternate "or sce%ues
o
=acations
o
6eness
Wor0 (n2#ron$(nt) ,t incu%es e!!icient managers$ su&&orti'e co/"orers$
caenging "or$ in'o'ement in %ecision/maing$ carit+ o! "or an% res&onsi*iities$ an% recognition. 9ac or a*sence o! suc en'ironment &uses em&o+ees to oo !or ne" o&&ortunities. Te en'ironment sou% *e suc tat te em&o+ee !ees connecte% to te organi#ation in e'er+ res&ect.
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NEED FOR THIS STUDY
Em&o+ers a'e a nee% to ee& em&o+ees !rom ea'ing an% going to "or !or oter com&anies. Tis is true *ecause o! te great costs associate% "it iring an% retraining ne" em&o+ees. Te *est "a+ to retain em&o+ees is *+ &ro'i%ing tem "it o* satis!action an% o&&ortunities !or a%'ancement in teir careers. Te sa+ing$ !oo% e& is ar% to !in%$ is e'en truer tese %a+s tan e'er *e!ore *ecause te o* maret is *ecoming increasing+ tigt.
O35("t#2(+ •
To stu%+ retention strategies use% *+ organi#ation to retain Em&o+ee Taent.
•
To stu%+ te com&ensationre"ar% structure o! te organi#ation &ro'i%e% to te em&o+ees.
•
To stu%+ an% ,m&ro'e te e'e o! em&o+ee satis!action.
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To stu%+ te %e'eo&ment &ractices a%o&te% te organi#ation.
S"o%( o1 t( +t!' Te stu%+ "as !ocuse% on EMPLOYEE RETENTION since it is necessar+ to !ocus on te e'es o! satis!action *+ smoot !unctioning o! organi#ation are aso to maintain an% retain em&o+ees !or onger time. So te stu%+ encom&asses *ot manageria an% non/ manageria em&o+ees o! 3ig 3a#aar.
METHODOLOGY So!r"( o1 ,t,7 Te stu%+ is *ase% on *ot Primar+ %ata an% Secon%ar+ %ata Pr#$,r' ,t,7
1B
Primar+ %ata is coecte% troug a "e structure% -uestionnaire circuate% among sam&e res&on%ence an% troug &ersona inter'ie"s "it tem. Persona %iscussions "ere e% "it te !oo"ing o!!icias to eicit ree'ant in!ormation !or te &ur&ose o! te stu%+. S("on,r' ,t, 7
Secon%ar+ %ata "as sometimes coecte% !rom more tan one source. Te secon%ar+ %ata is coecte% !rom te o!!icia recor%s o! te com&an+$ troug ournas$ "e*sites etc.$
S,$%( S#4()
Sam&e si#e is 1BB
LIMITATIONS
1.
Stu%+ is main+ *ase% on cor&orate %ata it ma+ not !u !i te nee%.
2. 9imite% no"e%ge a*out te stu%+ 0.
Sort %uration o! te stu%+$ te %ata &resentation ma+ not gi'e te true &icture.
5. Te %ata ma+ not *e accurate
11
CHAPTER-II LITERATURE REVIEW
12
L#t(r,t!r( R(2#(.)
A iterature re'ie" is a *o%+ o! tet tat aims to re'ie" te critica &oints o! current no"e%ge incu%ing su*stanti'e !in%ings as "e teoretica an% meto%oogica contri*utions to a &articuar to&ic. Em&o+ee Retention7 1. Em&o+ers a'e a nee% to ee& em&o+ees !rom ea'ing an% going to "or !or oter com&anies. Tis is true *ecause o! te great costs associate% "it iring an% retraining ne" em&o+ees. Te *est "a+ to retain em&o+ees is *+ &ro'i%ing tem "it o* satis!action an% o&&ortunities !or a%'ancement in teir careers (Esi%esen 2BBB$ Hammer 2BBB) 2. Em&o+ees tat are satis!ie% an% a&&+ in "it teir o*s are more %e%icate% in %oing a goo% o* an% taing care o! customers tat sustain te o&eration. o* satis!action is someting tat "oring &eo&e see an% a e+ eement o! em&o+ee retention ( Marini 2BBB$ enton 2BBB) 0. Researc as so"n tat tere ma+ *e man+ en'ironmenta !eatures tat can *e create% an% maintaine% to gi'e em&o+ees o* satis!action. Pa+ an% *ene!its$ communication$ moti'ation$ ustice an% eisure time a seem to &a+ a &art as to "eater em&o+ees are satis!ie% "it teir o*s$ accor%ing to stu%ies "ic e&s to retain em&o+ees. (3re"er 2BBB$ Em&o+ee 2BBB7 Mone+ 2BBBD 6agner 2BBB). 5. Te em&o+ees are etreme+ crucia to te organi#ation since teir 'aue to te organi#ation is essentia+ intangi*e an% not easi+ re&icate% Meagan et a (2BB2). Tere!ore$ managers must recogni#e tat em&o+ees as maor contri*utors to te e!!icient acie'ement o! te organi#ation4s success (A**asi et a. (2BBB)). 8. Em&o+ee engagement$ te organi#ation4s ca&acit+ to engage$ retain$ an% o&timi#e te 'aue o! its em&o+ees inges on o" "e o*s are %esigne%$ o" em&o+ees4 time is use%$ an% te commitment an% su&&ort tat is so"n to em&o+ees *+ te management "ou% moti'ate em&o+ees to sa+ in organi#ation4s (onson et a (2BBB)).
:. no"e%ge accessi*iit+$ te etent o! te organi#ation4s coa*orati'eness an% its ca&acit+ !or maing no"e%ge an% i%ea "i%e+ a'aia*e to em&o+ees$ "ou% mae em&o+ees to sa+ in te organi#ation. Saring o! in!ormation sou% *e ma%e at a e'es
10
o! management. Tis accessi*iit+ o! in!ormation "ou% ea% to strong &er!ormance !rom te em&o+ees an% strong cor&orate cuture Meagan et a. (2BB2). ;. 6or!ore o&timi#ation$ te organisation4s success in o&timi#ing te &er!ormance o ! te em&o+ees *+ esta*ising essentia &rocesses !or getting "or %one$ &ro'i%ing goo% "oring con%itions$ esta*ising accounta*iit+ an% maing goo% iring coices "ou% retain em&o+ees in teir organi#ation. (3a%a"+$ 1@<
15
CHAPTER-III INDUSTRY PROFILE
18
INDUSTRY PROFILE
Retaiing Retaiing is te transaction *et"een te seer an% consumer !or &ersona consum&tion. ,t is %oes not incu%e transaction *et"een te manu!acturer$ cor&orate &urcase$ go'ernment &urcase an% oter "oesae &urcase. A retaier stocs te goo%s !rom te manu!acturer an% ten ses te same to te en% user !or a margina &ro!it.
Intro!"t#on Retaiing in'o'es a acti'ities inci%enta to seing to utimate consumer !or teir &ersonne !ami+ an% ouseo% use. ,t %oes tis *+ organi#ing teir a'aia*iit+ on a reati'e+ arge scae an% su&&+ing tem to a customer on a reati'e+ sma scae. Retaier is an+ &ersonorgani#ation instrumenta in reacing te goo%s or mercan%ise or ser'ices to te en% users. Retaier is a must an% cannot *e eiminate%.
Te ,n%ian retaiing in%ustr+ is *ecoming intense+ com&etiti'e$ as more an% more &a+ers are =+ing !or te same set o! customers. Te maor retai &a+ers are Pantaoon Retai$ So&&ers Sto&$ Reiance$ etc..$
1:
R(t,# In!+tr' #n In#,) C,(n/(+ O%%ort!n#t#(+ ,n Str,t(/#(+ Retaiing is one o! te *iggest sectors an% it is "itnessing re'oution in ,n%ia. Te ne" entrant in retaiing in ,n%ia signi!ies te *eginning o! retai re'oution. ,n%iaFs retai maret is e&ecte% to gro" tremen%ous+ in net !e" +ears. Accor%ing to AT earne+$ Te 6in%o"s o! O&&ortunit+ so"s tat Retaiing in ,n%ia "as at o&ening stage in 1@@8 an% no" it is in &eaing stage in 2BB:. ,n%iaFs retai maret is e&ecte% to gro" tremen%ous+ in net !e" +ears. ,n%ia so"s US00B *iion retai maret tat is e&ecte% to gro" 1B a +ear$ "it mo%ern retaiing ust *eginning. ,n%ia rans !irst in 2BB8. ,n !act$ in 2BB8 an% 2BB:$ ,n%ia is te most com&eing o&&ortunit+ !or retaiers$ *ecause no" ,n%ia is in &eaing stage. Tis "in%o" o! o&&ortunit+ is use!u !or eecuti'es "o &an teir maret/s&eci!ic strategiesD te !our stages or te i!ec+ce o! tis in%ustr+ is as as !oo"s7
A* Intro!"t#on) Strateg+ suggeste%7 A ra&i% &enetration strateg+ is suggeste% at tis Stage i.e. o" &rice an% ig &romotion.
1;
B* Gro.t) Te strateg+ o! a%o&ting -uait+ an% st+e% &ro%ucts "it ne" mo%es an% si!t o! a%'ertising !rom &ro%uct a"areness to &ro%uct &re!erence Eg D te *ig *a#aar a%'ertisement sa+s sur! ece is cea&er tan te maret &rice. Te i%ea *ein% a%o&ting strateg+ is to strengten against com&etitors
C * M,t!r#t') Enter ne" maret segments tat is eiter enter ne" geogra&ic areas e.g. D'isa mega mart as o&ene% stores in smaer cities tier ,, an% ,,, cities
D("#n() Te "in%o" o! o&&ortunit+ is cosing !ast an% mo%ern retai sare is reacing 5B to :B &ercent. Toug te o&&ortunit+ is cosing te eisting retaiers can enter "it ne" !ormats suc as %iscount mo%es or non/!oo% !ormats suc as consumer eectronics an% a&&are.
6in%o" o! o&&ortunit+ en%s !or a*out 8 to 1B+ears *e!ore a maret enters te cosing &ase an% reaces saturation e'e. ,n%ia !or eam&e$ "as in te o&ening stage in 1@@8 an% entere% &eaing stage in te +ear 2BB0 an% reace%
num*er
1
ran
1<
in2BB8.
PRESENT INDIAN SCENARIO I unorgani#e% maret7 Rs. 8<0$BBB crores
I Organi#e% maret7 Rs.8$ BBB crores
I 8J gro"t in organi#e% retaiing *et"een 2BBB/2BB8
I O'er 5$BBB ne" mo%ern Outets in te ast 0 +ears
I O'er 8$BBB$BBB s-. !t. o! ma s&ace un%er %e'eo&ment
I Te to& 0 mo%ern retaiers contro o'er ;8B$BBB s-. !t. o! retai s&ace
I O'er 5BB$BBB so&&ers "a troug teir %oors e'er+ "ee
Gro.t r#2(r+ #n In#, 1or r(t,# +("tor
K
Rising incomes an% im&ro'ements in in!rastructure are enarging Consumer
marets an% acceerating te con'ergence o! consumer tastes.
K 9i*erai#ation o! te ,n%ian econom+
K ,ncrease in s&en%ing Per ca&ita ,ncome.
K A%'ent o! %ua income !amiies aso e&s in te gro"t o! retai
Sector.
1@
K
Si!t in consumer %eman% to !oreign *ran%s ie Mcona%s$ Son+$
Panasonic$ etc.
K
Consumer &re!erence !or so&&ing in ne" en'irons
K
Te ,nternet re'oution is maing te ,n%ian consumer more Accessi*e to
te gro"ing in!uences o! %omestic an% !oreign retai Cains. Reac o! sateite T.=. cannes is e&ing in creating a"areness a*out go*a &ro%ucts !or oca marets.
K
A*out 5; o! ,n%iaFs &o&uation is un%er te age o! 2BD an% tis "i
increase to 88 *+ 2B18. Tis +oung &o&uation$ "ic is Tecnoog+/ sa''+$ "atc more tan 8B T= sateite cannes$ an% %is&a+ te igest &ro&ensit+ to s&en%$ "i immense+ contri*ute to te gro"t o! te retai sector in te countr+.
K A'aia*iit+ o! -uait+ rea estate an% ma management &ractices
K ?oreign com&aniesF attraction to ,n%ia is te *iion/&us Po&uation.
S"o%( #n r(t,##n/ Retai is cear+ te sector tat is &oise% to so" te igest gro"t in te net !i'e +ears. Te sector is set !or a re'oution$ as *ot te &resent &a+ers an% ne"
2B
entrants are gearing u& to e&ore te maret. Tis sector contri*utes 1B o! ,n%iaFs GP an% te current gro"t rate is <.8. Te &resent si#e o! te organi#e% retaiing sector is a&&roimate+ 0 an% is e&ecte% to gro" to 28/0B *+ te +ear 2B1B. Tere are a*out 0BB ne" mas$ 18BB su&ermarets an% 028 %e&artmenta stores current+ un%er construction. Man+ &a+ers are coming u& "it uge in'estments$ %ue to "ic te &resent 12 miion mom/an%/&o& so&s an% irana stores !ear osing teir *usiness. Most &re%ictions sa+ tat te sector migt reac to US 5BB/:BB *iion *+ te +ear 2B1B. Go*a retai giants suc as 6a/Mart$ Tesco$ German+Fs Metro AG an% man+ oters are rea%+ to enter te retai marets. Te rising %eman% o! *ran%e% &ro%ucts an% increase in &urcasing &o"er as ure% tese com&anies to enter te maret.
L(,#n/ In#,n R(t,#(r+ 3ata ,n%ia 9t%$ 3ig 3a#aar$ Cross"or%$ E*on+ Retai Ho%ings 9t%.$ ?oo% 3a#aar$ Go*us Stores P't. 9t%.$ 9i*ert+ soes 9t%.$ Music 6or% Entertainment 9t%.$ Pantaoon Retai ,n%ia 9t%.$ So&&ers Sto&$ Su*isa$ Titan ,n%ustries$ Trent an% te ne" entrants &enetrating te maret soon "i incu%e Reiance Retai 9t%$ 6a/Mart Stores etc
E$%o'$(nt o%%ort!n#t#(+ #n r(t,# +("tor #n In#,
21
,n%iaFs retai in%ustr+ is te secon% argest sector$ a!ter agricuture$ "ic &ro'i%es em&o+ment. Accor%ing to Associate% Cam*ers o! Commerce an% ,n%ustr+ o! ,n%ia (ASSOCHAM)$ te retai sector "is Create 8B$BBB o*s in net !e" +ears. Retai com&anies are starting retai management courses in Partnersi& "it management institutes$ ro&ing in taent !rom oter Sectors an% %e'eo&ing com&reensi'e career gro"t an% o+at+ Pans !or eisting em&o+ees. To& &a+ers ie Pantaoon Retai ,n%ia 9imite%$ Trent$ So&&erFs Sto&$
RPG
Grou&
an%
e*on+
are
'irtua+
on
teir
toes.
Consi%er te &ans o! argest &a+er$ Te Pantaoon Retai ,n%ia 9t%$ Te com&an+ as %e'eo&e% a com&reensi'e strateg+$ "ere in it E&ects tat in 2+ears$ it "i not recruit an+ ne" managers !rom outsi%e. Trent as aso starte% in/ouse earning &rograms an% no" goes to un%er gra%uate coeges to recruit stu%ents. Since$ te o* maret is uge+ rece&ti'e to tis "it more an% more *usiness scoos !ocusing on te sector an% arge retaiers setting u& retai aca%emics.
C,(n/(+ o1 R(t,##n/ #n In#, ,n ,n%ia te Retaiing in%ustr+ as a ong "a+ to go$ an% to *ecome a tru+ !ourising in%ustr+$ retaiing nee%s to cross te !oo"ing !r(+) I Te !irst caenge !acing te organi#e% retai sector is te com&etition !rom unorgani#e% sector.
22
I ,n retai sector$ Automatic a&&ro'a is not ao"e% !or !oreign in'estment
I Taation$ "ic !a'ors sma retai *usinesses. I e'eo&e% su&&+ cain an% integrate% ,T management is a*sent in retai sector. I 9ac o! traine% "or !orce. I 9o" si e'e !or retaiing management. I ,ntrinsic com&eit+ o! retaiing/ ra&i% &rice canges$ treat o! &ro%uct o*soescence an% o" margins. I Organi#e% retai sector as to &a+ uge taes$ "ic is negigi*e !or sma retai *usiness. ICost o! *usiness o&erations is 'er+ ig in ,n%ia.
R(t,# M,r0(t#n/ & S,(+ Pro$ot#on Retai mareting &ans$ saes &romotion i%eas$ *ran%ing an% a%'ertising resources !or retaiers. 9earn o" to use oss ea%ers$ me%ia *u+s an% saes e'ents to te *ene!it o! +our retai store. Seect a ne"s&a&er to a%'ertise in$ create an e!!ecti'e a% an% un%erstan% ne"s&a&er rate car%s.
,* A2(rt#+#n/ 1or R(t,#(r+ 9earn o" to &ro&er+ *u+ a%'ertising$ "ere to a%'ertise +our *usiness an% "at !orms o! a%'ertising "or *est !or te retai store. A!!or%a*e "a+s to
20
a%'ertise in ne"s&a&ers$ use %irect mai$ *i*oar%s$ tee'ision$ ra%io$ an% te ,nternet
3* M(r",n#+#n/ ,n retai$ mercan%ising is te &ractice o! maing &ro%ucts in stores a'aia*e to consumers$ &rimari+ *+ stocing se'es an% %is&a+s. Use tese mercan%ising resources to earn o" to create an attracti'e %is&a+$ get ti&s !or &ro%uct &acement an% recei'e oter retai mercan%ising a%'ice.
"* Pr#2,t( L,3( Br,n#n/ 9earn te %e!inition o! &ri'ate a*e *ran%ing$ !in% out "ere to *u+ &ri'ate a*e &ro%ucts to se in +our store$ an% *etter un%erstan% te &ri'ate a*eing conce&t "it tese resources. Retai Signage / igita Signage / Store Signs 9earn more a*out te e!!ecti'e use o! retai signage$ te *ene!its o! %igita signage an% oter &romotiona signs. Tis categor+ co'ers neon signs$ *i*oar%s$ %igita signage s+stems an% oter retai store signage. U+#n/ Pr(++ R((,+(+
6riting an% sen%ing a &ress reease is an eceent "a+ to get te "or% out a*out +our retai store. Here are &ai% an% !ree &ress reease ser'ices$ &ress reease *est &ractices an% oter retai mareting i%eas using &ress reeases.
R(t,# Str,t(/'
25
Str,t(/#" r(t,# %,nn#n/ ,n r(%o+#t#on#n/
•
En% teir retai &ro&ositions
•
Pan an% %e'eo& ne" retai !ormats an% cannes
•
Pan e!!ecti'e retai store ro/out strategies
•
Prioriti#e ne" retai marets an% %e!ine o" to enter tem
•
E'auate an% eecute ne" retai 'entures an% ac-uisitions
•
e'eo& retai *usiness &ans an% !inancia &roections
R(t,# %(r1or$,n"( #$%ro2($(nt 3+ %e&o+ing e&erience% &ro!essionas in retai strateg+$ range an ,m&ro'e an% eite% su&&+ cain management$ retai tecnoog+$ muti/canne retaiing an% store ro/out$ "e %ei'er strong$ &ractica recommen%ations to %ri'e tra%ing im&ro'ements an% o&erating e!!iciencies$ resuting in -uic "ins as "e as ong term !inancia *ene!it. Some o! te -uestions "e a'e a%%resse% recent+ incu%e
Ho" can "e mae our retai &ro&osition more a&&eaing an% Com&etiti'e
Ho" can "e manage our &ro%uct range an% stoc most e!!ecti'e+ to %ri'e saes an% !ree "oring ca&itaL
Ho" %o "e o&timi#e our store &ort!oio an% store ro out Programmer
28
Ho" %o "e reai#e our muti/canne &otentia (incu%ing onine cataogue)L
6ic su&&+ cain im&ro'ements "i %ri'e saes an%or !ree "oring ca&itaL
Ho" %o "e im&ro'e our management o! se! s&ace to %ri'e saesL
Ho" %o "e im&ro'e our management o ! store o&erations to
sa'e costs an%
%ri'e saesL
6*7 F!t!r( /ro!% Intro!"t#on ?uture Grou&$ e% *+ its !oun%er an% Grou& CEO$ Mr. 8#+or( B#',n#9 is one o! ,n%ia4s ea%ing *usiness ouses "it muti&e *usinesses s&anning across te consum&tion s&ace. 6ie retai !orms te core *usiness acti'it+ o! ?uture Grou&$ grou& su*si%iaries are &resent in consumer !inance$ ca&ita$ insurance$ eisure an% entertainment$ *ran% %e'eo&ment$ retai rea estate %e'eo&ment$ retai me%ia an% ogistics 9e% *+ its !agsi& enter&rise$ Pantaoon Retai$ te grou& o&erates o'er 12 miion s-uare !eet o! retai s&ace in ;1 cities an% to"ns an% :8 rura ocations across ,n%ia
Hea%-uartere% in Mum*ai (3om*a+)$ Pantaoon Retai em&o+s aroun% 0B$BBB &eo&e an% is iste% on te ,n%ian stoc ecanges. Te com&an+ !oo"s a muti/
2:
!ormat retai strateg+ tat ca&tures amost te entire consum&tion *aset o! ,n%ian customers. ,n te i!est+e segment$ te grou& o&erates Pantaoons$ a !asion retai cain an% Centra$ a cain o! seamess mas. ,n te 'aue segment$ its mar-uee *ran%$ 3ig 3a#aar is a +&ermaret !ormat tat com*ines te oo$ touc an% !ee o! ,n%ian *a#aars "it te coice an% con'enience o! mo%ern retai
FUTURE VALUE BRANDS
Te ?uture Grou& as *uit a strong &ort!oio o! some o! te !astest Gro"ing consumer *ran%s in ,n%ia.
Tis acti'it+ is e% troug F!t!r( Br,n+ In#, L#$#t($ a s&eciai#e% su*si%iar+ com&an+ tat "as set u& to create an% *ui% &o"er!u *ran%s tat a%%ress te as&irations o! te ne" ,n%ian consumer
Some o! te e+ *ran%s in tis &ort!oio incu%e$ Jon M#(r$ Lo$3,r$ B,r($ DJ&C$ B!11,o an% RIG in te !asion an% a&&are s&ace. Dr(,$ #n($
&resent in te ome segment$ o!!ers a "i%e range o! &ro%ucts in itcen"are$ *e% *at inen$ an% Home cor categories. ,n te !oo% an% ome care segment *ran%s incu%e T,+t' Tr(,t$ Pr($#!$ H,r2(+t$ Fr(+ & P!r($ C,r( M,t( an% C(,n M,t(. ,n consumer %ura*es an% eectronics s&ace$ te
grou&4s *ran%s incu%e 8or'o an% S(n+(#. ,n%ianness7 con!i%ence in ourse'es
9ea%ersi&7 to *e a ea%er$ *ot in tougt an% *usiness
2;
Res&ect Humiit+7 to res&ect e'er+ in%i'i%ua an% *e um*e in our countr+ ?uture grou& !irms
•
Pantaoon Retai (,n%ia) 9imite%
•
Home Soutions Retai ,n%ia 9imite%
•
?uture 3ran%s 9imite%
•
?uture Me%ia (,n%ia) 9imite%
•
?uture Su&&+ Cain Soutions 9imite%
•
Con'ergem Communication (,n%ia) 9imite%
•
Pantaoon ?oo% Pro%uct (,n%ia) 9imite%
•
?uture no"e%ge Ser'ices 9imite%
•
?uture Ca&ita Ho%ings 9imite%
•
?uture Genera ,n%ia ,nsurance Com&an+ 9imite%
•
?uture Genera ,n%ia 9i!e ,nsurance Com&an+ 9imite%
•
?uture *a#aar ,n%ia 9imite%
•
6inner S&orts Pri'ate 9imite%
•
Sta&es ?uture O!!ice Pro%ucts Pri'ate 9imite%
•
Ta"aars Pantaoon ?itness Pri'ate 9imite%
•
,n%us 9eague Coting
•
Gaa+ Entertainment Cor&oration 9t%
•
F!t!r( Con+!$(r Pro!"t+ L#$#t(
•
?uture =entures ,n%ia 9imite%
2<
2@
CHAPTER-III COMPANY PROFILE
0B
Co$%,n' Pro1#()
3ig 3a#aar is not ust anoter +&ermaret. ,t caters to e'er+ nee% o! +our !ami+. 6ere 3ig 3a#aar scores o'er oter stores is its 'aue !or mone+ &ro&osition !or te ,n%ian customers. B#/ B,4,,r is a cain o! +&ermaret in ,n%ia. As o! une 2$ 2B12 tere are 215 stores
across @B cities an% to"ns in ,n%ia co'ering aroun% 1: miion s-.!t. o! retai s&ace. 3ig 3a#aar is %esigne% as an aggomeration o! *a#aars or ,n%ian marets "it custers o!!ering a "i%e range o! mercan%ise incu%ing !asion an% a&&ares$ !oo% &ro%ucts$ genera mercan%ise$ !urniture$ eectronics$ *oos$ !ast !oo% an% eisure an% entertainment sections. 3ig 3a#aar is &art o! ?uture Grou&$ "ic aso o"ns te Centra H+&ermaret$ 3ran% ?actor+$ Pantaoons$ eONE$ HomeTo"n$ !uture*a#aar.com$ 3Fs ?air Price to name a !e" an% is o"ne% troug a "o+ o"ne% su*si%iar+ o! Pantaoon Retai ,n%ia 9imite%(3SE7 8208;5 8208;5)$ tat is iste% on ,n%ian stoc ecanges. History
3ig 3a#aar "as aunce% in Se&tem*er$ 2BB1 "it te o&ening o! its !irst !our stores in Cacutta$ ,n%ore$ 3angaore an% H+%era*a% in 22 %a+s. 6itin a s&an o! ten +ears$ tere are no" 1:1 3ig 3a#aar stores in @B cities an% to"ns across ,n%ia. 3+ Se&tem*er 2B12 3,G 3AAAR "i a'e t"o more stores in Nort east name+ S,9CHAR an% ORHAT in Assam. 3ig 3a#aar "as starte% *+ isore 3i+ani$ te Grou& CEO an% Managing irector o! Pantaoon Retai ,n%ia. Toug 3ig 3a#aar "as aunce% &ure+ as a !asion !ormat incu%ing a&&are$ cosmetics$ accessor+ an% genera mercan%ise$ o'er te +ears 3ig 3a#aar as incu%e% a "i%e range o! &ro%ucts an% ser'ice o!!erings un%er teir retai cain. Te current !ormats incu%es 3ig 3a#aar$ ?oo% 3a#aar$ Eectronic 3a#aar an%
01
?urniture 3a#aar. Te ins&iration *ein% tis entire retai !ormat "as !rom Sara'ana Stores$ a oca store in T. Nagar $ Cennai Te stores are customi#e% to &ro'i%e te !ee o! man%is an% meas 2Q "ie o!!ering te mo%ern retai !eatures ie >uait+$ Coice an% Con'enience. As te mo%ern ,n%ian !ami+Fs !a'orite retai store$ 3ig 3a#aar is &o&uar+ no"n as te ,n%ian 6amart. On success!u com&etion o! ten +ears in ,n%ian retai in%ustr+$ in 2B11$ 3ig 3a#aar as come u& a ne" ogo "it a ne" tag ine7 Na+e ,n%ia a 3a#aar4$ re&acing te earier one7 F,sse Sasta Aur Acca ain NainF. 0Q Strategy 6-C T(or'
Accor%ing to isore 3i+aniFs 0/C teor+$ Cange an% Con!i%ence among te entire &o&uation is ea%ing to rise in Consum&tion$ troug *etter em&o+ment an% income "ic in turn is creating 'aue to te agricutura &ro%ucts across te countr+. 5Q 3ig 3a#aar as %i'i%e% ,n%ia into tree segments7 ,n%ia one7 Consuming cass "ic incu%es u&&er mi%%e an% o"er mi%%e cass (15 o! ,n%iaFs &o&uation). ,n%ia t"o7 Ser'ing cass "ic incu%es &eo&e ie %ri'ers$ ouseo% e&s$ o!!ice &eons$ i!tmen$ "asermen$ etc. (88 o! ,n%iaFs &o&uation) an% ,n%ia tree7 Strugging cass (remaining 01 o! ,n%iaFs &o&uation). 6ie 3ig 3a#aar is targete% at te &o&uation across ,n%ia one an% ,n%ia t"o segments$ Aa%aar 6oesae is aime% at reacing te &o&uation in ,n%ia tree segment. 6it tis$ ?uture Grou& emerge% as a retai %estination !or consumers across a casses in te ,n%ian societ+.
02
Operations
Te 3ig 3a#aar Store in Nag&ur. Most 3ig 3a#aar stores are muti/e'e an% are ocate% in stan%/aone *ui%ings in cit+ centers as "e as "itin so&&ing mas. Tese stores o!!er o'er 2BB$BBB SUs in a "i%e range o! categories e% &rimari+ *+ !asion an% !oo% &ro%ucts. ?oo% 3a#aar$ a su&ermaret !ormat "as incor&orate% "itin 3ig 3a#aar in 2BB2 an% is no" &resent "itin e'er+ 3ig 3a#aar as "e as in in%e&en%ent ocations. A t+&ica 3ig 3a#aar is s&rea% across aroun% 8B$BBB s-uare !eet (5$:BB m2) o! retai s&ace. 6ie te arger metro&oises a'e 3ig 3a#aar ?ami+ centres measuring *et"een ;8$BBB s-uare !eet (;$BBB m2) an% 1:B$BBB s-uare !eet (18$BBB m2)$ 3ig 3a#aar E&ress stores in smaer to"ns measure aroun% 0B$BBB s-uare !eet (2$
V,!(+ & C!t!r(+ O!r V,!(+ 6e acno"e%ge tat e'er+ in%i'i%ua *rings %i!!erent &ers&ecti'es an% ca&a*iities to te team an% tat a strong team comes togeter "it a 'ariet+ o! &ers&ecti'es. 6at o% tem togeter are te core 'aues tat a+ te !oun%ation o! tis strengt. Troug te entire cain o! ?uture Grou& "e i%enti!+ tese 'aues "it "at is cae% Te ?uture Grou& Gene. 00
•
In#,nn(++) Con!i%ence in ourse'es.
•
L(,(r+#%) To *e a ea%er$ *ot in tougt an% *usiness.
•
R(+%("t & H!$##t') To res&ect e'er+ in%i'i%ua an% *e um*e in our con%uct.
•
Intro+%("t#on) 9ea%ing to &ur&ose!u tining.
•
O%(nn(++ & Tr,n+%,r(n"') To *e o&en an% rece&ti'e to ne" i%eas$ no"e%ge
an% in!ormation. •
V,!#n/ ,n N!rt!r#n/ R(,t#on+#%+) To *ui% ong term reationsi&s.
•
S#$%#"#t' & Po+#t#2#t') Sim&icit+ an% &ositi'it+ in our tougt$ *usiness an%
action. •
A,%t,3##t') To *e !ei*e an% a%a&ta*e$ to meet caenges.
•
Fo.) To res&ect an% un%erstan% te uni'ersa a"s o! nature.
6e 9o'e to re"rite rues$ e'en as "e retain our 'aues.
C!t!r( 6e "or in an en'ironment "ere te %ea%ines are tigter an% te u*iations e'en more eciting. 6e ie to maintain tis energ+ "eF'e got going on$ so "e mae sure to *ring on *oar% eact+ te rigt &eo&e. E'er+one ere as a range o! ama#ing (an% o!ten i%%en) taents an% creati'e interests.
T(,$8,+',% D(or, Pr(+#(nt
as+a& ea%s ?uture 3a#aar. Prior to tis$ as+a& !oun%e% Cau&aati 3a#aar a!ter returning to ,n%ia in No' 2BB;. Cau&aati ena*e% ,n%ian
05
consumers to &urcase &ro%ucts an% ser'ices *+ &one. ,n Se& 2B1B$ Cau&aati merge% into ,n%iaFs argest retaier ?uture Grou&. Earier$ as+a& starte% te US o!!ice o! Geo%esic (NSE7 8B0:@@) in te ca&acit+ o! =P$ 3usiness e'eo&ment %oing onine a!!iiate saes in Nort America an% mo*ie OEM saes in Tai"an Cina. as+a& "as an ear+ em&o+ee at as&er esign Automation. 3esi%es naming te com&an+$ e ma%e contri*utions to te saes cam&aigns !or e+ customers an% &ros&ects in Nort America an% Nortern Euro&e. 6ie a !ina +ear stu%ent at ,,T 3om*a+$ as+a& co/!oun%e% Rigta!$ te !irst cam&us start/u& as &art o! te ,,T 3om*a+ 3usiness ,ncu*ator. A!ter a success!u ac-uisition o! Rigta! *+ Strati!+$ e mo'e% to te Siicon =ae+ in ate 2BBB. Since ten$ e as "ore% "it ig/tec startu&s %oing saes$ *usiness %e'eo&ment an% &ro%uct management. as+a& gra%uate% !rom ,,T 3om*a+ in 2BBB "it a 3. Tec. in Com&uter Science an% Engineering. as+a& o'es tra'eing$ sno"*oar%ing$ *ungee um&ing an% cim*ing mountains. G,!r,2 A/,r.,
Mareting Gaura' ea%s mareting at ?uture 3a#aar. As te ea% o! mareting$ Gaura' is in/carge o! onine tra!!ic$ mareting a!!iiates an% 'en%or &rogram. Gaura' as e% man+ roes in ear+ stage to gro"t &ase startu&s o!ten "oring in com&anies "it ess tan 0B em&o+ees. His ast stint "as "it Amar Citra ata "ere e create% te Ne" Me%ia i'ision !rom scratc an% gre" te s&rea% o! AC Comics to a &at!orms. Prior to AC$ e as "ore% in te micro!inance tecnoog+ sector an% e'en attem&te% a startu& in te com&e e'ent &rocessing s&ace. Gaura' gra%uate% !rom ,,T 3om*a+ in 2BB0 "it an 3. Tec an% M. Tec. in Micro Eectronics.
08
The Big Bazaar is one such department store to have set up shop across the country. Since its first outlet opened in Kolkata in late 2001, the Big Bazaar has spread to towns and
cities at an alarming rate. Currently 10 outlets
These multi!level shopping meccas stoc" everything from food to fridges, and coo"ware to clothes. #owever, the Big Bazaar
isn$t
your
ordinary
department
store.
%t$s
&een
especially designed to appeal to the %ndian consumer.
3ig 3a#aar 6it a sogan o! "Is se sasta aur accha kahin nahi!" (No"ere cea&er or *etter tan tis)$ te 3ig 3a#aar targets itse! %irect+ at te a'erage ,n%ianFs o'e o! !oo"ing te cro"% an% scram*ing !or a goo% %iscount.
P,r(nt-P,nt,oon R(t,# In#, Lt Pantaoon Retai (,n%ia) 9imite%$ is ,n%ia4s ea%ing retaier tat o&erates muti&e retai !ormats in *ot te 'aue an% i!est+e segment o! te ,n%ian consumer maret. Hea%-uartere% in Mum*ai (3om*a+)$ te com&an+ o&erates o'er 12 miion s-uare !eet o! retai s&ace$ as o'er 1BBB stores across ;1 cities in ,n%ia an% em&o+so'er0B$BB&eo&e. Te com&an+4s ea%ing !ormats incu%e Pantaoons$ a cain o! !asion outets$
0:
3ig 3a#aar$ a uni-ue+ ,n%ian +&ermaret cain$ ?oo% 3a#aar$ a su&ermaret cain$ *en%s te oo$ touc an% !ee o! ,n%ian
bazaars "it
as&ects o! mo%ern
retai ie coice$ con'enience an% -uait+ an% Centra$ a cain o! seamess %estination mas. Some o! its oter !ormats incu%e 3ran% ?actor+$ 3ue S+$ a$ To& 1B an% Star an% Sitara. Te com&an+ aso o&erates an onine &orta$ !uture*a#aar.com. A su*si%iar+ com&an+$ Home Soutions Retai (,n%ia) 9imite%$ o&erates Home To"n$ a arge/!ormat ome soutions store$ Coection i$ seing ome !urniture &ro%ucts an% e one !ocuse% on catering to te consumer eectronics segment. Pantaoon Retai "as recent+ a"ar%e% te ,nternationa Retaier o! te ear 2BB; *+ te US/*ase% Nationa Retai ?e%eration (NR?) an% te Emerging Maret Retaier o! te ear 2BB; at te 6or% Retai Congress e% in 3arceona.
T,r/(t A!#(n"( 3ig 3a#aar targets iger an% u&&er mi%%e cass customers$ te arge an% gro"ing +oung "oring &o&uation is a &re!erre% customer segment$ 3ig 3a#aar s&eci!ica+ targets "oring "omen an% ome maers "o are te &rimar+ %ecision maers.
0;
Pro!"t $#: enims t/sirts ?a*rics cut &ieces ?orma "ear Casua "ear Part+ "ear Etnic "ear Accessories Un%er garments Nigt "ear ress materia Saris Sta&es Rea%+ to eat Rea%+ to coo ,nternationa !oo% S&ices ,m&orte% *a#aar Tea co!!ee ?ruits =egeta*es ,m&orte% !ruits air+ &ro%ucts So!t %rins Pacage% uices Mi item ?ro#en !oo%s ,ce creams Sam&oos etergents Soa&s 9i-ui% "as creams %eo%orants Home ceaners utensis &astics crocer+
Pr#"#n/ =aue &ricing (E9P) Promotiona &ricing $o" interest !inancing $&s+coogica %iscounting$ s&ecia e'ent &ricing i!!erentiate% &ricing $time &ricing$ 3un%ing.
P,"(-+tor( o",t#on+ ,nitia+ i%enti!ies !uture &otentia %e'eo&ment areas$ ac-uire suc areas at an ear+ &ase *e!ore te rea estate 'aue *ooms$ an% ocate% at ig tra!!ic areas.
Pro$ot#on
“ Saal ke Sabse Saste 3 Din” Future card(3% discount) 0<
Shakti card Advertising(print ads, T ads, radio) !rand endorse"ent b# M.S DHONI $change o&er 'eekend discounts oint o purchase pro"otions * +unk s-ap o&er. “$change an#thing
E-t,##n/ To o'ercome ocation %isa%'antage/ aunce% a mercan%ise retaiing "e*site """.!uture*a#aar.com "ic targets ig/en% customers rea%+ to use cre%it car%s. ,nternet as &ace as &ut tem in a &ro!ita*e &osition *ecause tere is minima e&ense o! maintaining a "e*site.
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5B
BOARD OF DIRECTORS
Mr* 8#+or( B#',n#9 M,n,/#n/ D#r("tor
isore 3i+ani is te Managing irector o! Pantaoon Retai (,n%ia) 9imite% an%
te Grou& Cie! Eecuti'e O!!icer o! ?uture Grou&.
Mr.GopikishanBiyani,Wholetime Director
'opi"ishan Biyani,
is a commerce graduate and has more than twenty years of e(perience in
the te(tile &usiness.
Mr. Rakesh Biyani, Wholetime Director
Rakesh Biyani, is a commerce graduate and has &een actively
involved in category management) retail stores operations, %T and e(ports. #e has &een instrumental in the implementation of the various new retail formats.
Mr. Vijay Biyani, Wholetime Director
*i+ay Biyani has more than twenty years of e(perience in manufacturing, te(tiles and retail industry and has &een
51
actively
involved
in
the
financial,
audit and
corporate
governance related issues within the company.
Mr. Vijay Kumar Chopra, Independent Director
V.K.Chopra is a fellow mem&er of The %nstitute of Chartered
ccountants of %ndia -%C% &y profession and is a Certified ssociate of %ndian %nstitute of Ban"ers -C%%B. #is &an"ing career
spans over
/1 years and he has served senior
management positions in Central Ban" of %ndia, riental Ban" of Commerce, S%B%, Corporation Ban" and SB%
AWARDS 7;;<
CNBC A.,,4 Con+!$(r A.,r+ 7;;< Most Pre!erre% Muti Pro%uct Cain / 3ig 3a#aar
Most Pre!erre% Muti 3ran% ?oo% 3e'erage Cain / 3ig 3a#aar
I$,/(+ F,+#on For!$ 7;;< Most A%mire% ?asion Grou& O! Te ear / ?uture Grou&
Most A%mire% Pri'ate 9a*e / Pantaoons$ te i!est+e !ormat
52
Critics Coice ?or Pioneering E!!ort ,n Retai Conce&t Creation / Centra
.
Co",-Co, Go(n S%oon A.,r+ 7;;< Most A%mire% ?oo% Grocer+ Retaier O! Te ear
Most A%mire% ?oo% Court
Most A%mire% ?oo% Pro!essiona 7;;=
In#,n R(t,# For!$ A.,r+ 7;;= Most A%mire% Retai Com&an+ o! te +ear / ?uture Grou&
Retai ?ace o! te ear / isore 3i+ani
3est Retaier O! Te ear ( H+&ermaret) / 3ig 3a#aar
?uture Grou& "as a"ar%e% te Most A%mire% Retai Com&an+ o! te +ear *+ te ,n%ian Retai ?orum at a gittering ceremon+ organi#e% in Mum*ai. Mr. isore 3i+ani aso "on Retai ?ace o! te ear.
,n%ia Retai ?orum (,R?) is a &at!orm !or inteectua insigts an% in!ormation ecange !or te retai *usiness in te ,n%ian su*continent.
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Te !orum &resents te *usiness o! retai in te region to a go*a au%ience$ "it te e&ress aim o! !aciitating un%erstan%ing a*out an% encouraging in'estment in tis massi'e maret&ace.
3ig 3a#aar$ te 'aue !ormat o! ?uture Grou& *agge% te 3est Retaier O! Te ear H+&ermaret
T( INDIASTAR A.,r 7;;= ?oo% 3a#aar7 3est Pacaging ,nno'ation
?oo% 3a#aar *agge% te ,N,ASTAR A"ar% !or 3est Pacaging ,nno'ation in ,n%ia$ !or its &ri'ate a*e *ran% ?res An% Pure Cai Atta.
,N,ASTAR A"ar% is a *iennia e'ent "ic aims to &romote an% encourage eceence in &acaging %esign$ inno'ation an% tecnoog+. Te contest "as esta*ise% in 1@;2 an% is consi%ere% as te most &o&uar an% &remier e'ent !or ,n%ia4s &acaging !raternit+. Tis +ear tere "ere aroun% 08; entries an% te &artici&ants a% to su*mit a sam&e o! teir %esigns !or seection.
6it tis a"ar%$ Pantaoon Retai (,n%ia) 9imite% *ecomes te !irst ,n%ian Retaier to "in te &restigious ,N,ASTAR A"ar%.
55
R(t,# A+#, P,"#1#" >;; To% A.,r+ 7;;= Go% 6inner / To& Retaier 2BB< Asia Paci!ic
Retai Asia Pu*ising Pte$ te institutor o! tese a"ar%s$ aims to set a &at!orm tat a&&raise raises an% recogni#es te %e'eo&ment an% gro"t o! retaiing trougout te Asia Paci!ic region.
58
E$%o'(( R(t(nt#on ?or managers$ noting !ees *etter tan a'ing a strong$ success!u$ a&&+ "or!orce in &ace tat is mutua+ !ocuse% on te organi#ation4s &er!ormance. Hiring to&/-uait+ in%i'i%uas is an im&ortant tas on its o"n$ *ut essentia to an+ manager4s ongoing &rocess is a critica retention strateg+. ,n !act$ iring %oes not en% "en te can%i%ate as acce&te% te &osition. A%'antageous initiati'es an% "e/&anne% &rocesses must *e !irm+ in &ace an% consistent+ nurture% so tat em&o+ees "i a'e reasons to remain "it +our com&an+ !or gro"t to continue. ?oo"ing a "e %e'eo&e% strate g+ "i et +ou re%uce recruitment troug retaining +our to&/&er!orming taent. O*'ious+$ +ou cannot o% onto a +our *est &eo&e$ *ut +ou can certain+ minimi#e te oss. Re%ucing em&o+ee turno'er is a strategic an% 'ita issue$ *ene!icia to +our com&an+4s *ottom ine. ,t as taen consi%era*e time an% resources to attain a sta!! tat +ou are &rou% o! V to re&ace tem star'es +our organi#ation o! man+ essentia success !actors (money, overall attitude, productivity, etc.) an% te com&an+4s utimate trium&. Te intent o! tis "ite&a&er is to e& +ou %isco'er te im&ortance o! retaining +our 'aua*e em&o+ees an% &ro'i%e +ou "it a ist o! soutions. 5:
5;
PEOPLE ARE VALUABLE “Look after your people and the business ill look after itself .
9ie an art coector "o as s&ent time an% researc attaining tat Great Master4s "or "ic em*o%ies te taent$ sis an% training o! te artist$ getting eceent sta!! re-uires te same &assion. Te coector &rotects te &ainti &ainting ng "it "it su& su&eri erior or securi securit+ t+ an% en'iro en'ironm nment enta a meto meto%s. %s. ,n +ou +our r &osition as a manager o! &eo&e +ou must %o "ate'er +ou can to ee& tat &riceess in%i'i%ua "o "ors ar% !or +our com&an+ an% generates strong resuts.
As an e&erience% *usiness &erson$ +ou a'e un%ou*te%+ use%$ or are in te &rocess o! using e!!ecti'e iring toos to assem*e "at +ou *eie'e to *e te *est sta!!$ "it ece&tiona sis an% "o !it "e into +our com& com&an an+4 +4ss un unii-ue ue cut cutur ure. e. ,n a com& com&et etit iti' i'e$ e$ &ro! &ro!es essi sion ona a "or "or%$ %$ to& to& &er!ormers are o!ten o!ten ma%e a 'ariet+ o! o!!ers o!!ers *e!ore te+ sette on one career &osition. 3ut once te+ are "oring !or +ou$ te+ nee% reason an% moti'ation to remain.
5<
Te o% a%age “Look after the small things and the big things look after themselves can can easi+ a&&+ to +our "or!orce.
our sta!! is more tan em&o+ees. Te+ are 'aua*e in%i'i%uas "it uni-ue com&etencies an% caracteristics "o re-uire a&&reciation as muc as a &a+cec. ,n !act$ &eo&e are te singe most 'aua*e eement "itin +our organi#ation. organi#ation.
E$%o'(( R(t(nt#on B(n(1#t+
3usi 3usine ness sses es tat tat in'e in'est st in em& em&o+ o+ee eess an% an% a'e a'e ig ig em& em&o+ o+ee ee engagement a'e a com&etiti'e a%'antage in teir a*iit+ to mae it
troug a recession. Tes T esee com& com&an anie iess "i "i emer emerge ge !rom !rom te te rece recess ssio ion n stro strong nger er an% an% eatier unie te com&anies "ose "or!orce as *een %ecimate%. Em&o+ees !ee res&ecte%$ 'aue%$ an% a&&reciate% Em&o+ees get to *e &a+ers an% not ust ire% an%s Em&o+ees get to mae a %i!!erence %i!!erence
5@
RECOGNIZING THE PROBLEM
Wo #+ !t#$,t(' r(+%on+#3( 1or +t,11 r(t(nt#on?
Retention starts at te to&. Sourcing$ iring an% retaining moti'ate% em&o+ em&o+ees ees is te res&o res&onsi nsi*i *iit+ it+ o! te com&an com&an+4 +4ss go' go'ern erning ing *oar% *oar% an% 9ea%ersi& Team. Getting an% ee&ing goo% sta!! %eman%s !ocuse%$ !orma an% an% in!o in!orm rma a &o &oi ici cies es an% an% &roc &roce% e%ur ures es tat tat mae ae rete retent ntio ion n a &rim &rimee management outcome. M,n,/(r+ n(( to ,%%r("#,t( +t,11 (2(r' ,' ,n "on+t,nt' .or0 to 0((% t($ on 3o,r*
Te HR %e&artment aone cannot re%uce turno'er.
8B
T( H#/ Co+t o1 E$%o'(( T!rno2(r Te costs o! ig sta!! turno'er can *e incre%i*e. Some o! te su*stantia costs tat occur "en a &erson ea'es +our organi#ation incu%e te !oo"ing7
@* R("r!#t$(nt "o+t+
W ?rom a%'ertising to te time s&ent inter'ie"ing an% sourcing.
7* Tr,#n#n/ "o+t+
W Orientation materias an% trainers4 time (e. ca center agents re-uire on a'erage 5 / : "ees or more o! cassroom training).
6* Lo+t Pro!"t#2#t' Co+t+
W A ne" em&o+ee o&erates *et"een 28/8B o! &ro%ucti'it+ e'es !or te !irst tree monts$ not incu%ing te time s&ent *+ eisting em&o+ees to assist.
* Lo+t +,(+ "o+t+
W Te oss o! *usiness "en te roe is 'acant.
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So$( "o$$on r(t(nt#on +tr,t(/#(+) @*
Co$$!n#",t( E11("t#2(' W#t Yo!r E$%o'((+
K
Tis is te most critica tactic o! a.
K
Assum&tions an% s&ecuations are %ea%+ to em&o+ee morae an% te eat o! te organi#ation.
K
Encourage +our "orers to sare teir concerns "it +ou an% in turn sare +our concerns "it tem. Tis !osters o&enness an% trust *et"een a &arties in'o'e%.
7*
S(,r" 1or W,'+ to R((%o' E$%o'((+
K
,t %oesnFt mae sense$ !inancia+ or oter"ise$ to get ri% o! 'aua*e em&o+ees %uring an economic %o"nturn.
K
6en te recession is o'er +ou "i nee% to re&ace tese "orers an% at "at costL
K
,nstea%$ si!t tese "orers to oter areas tat are sti &er!orming "e.
K 6*
Em&o+ees tat ea'e com&anies tae 'aua*e no"e%ge "it tem. M,0( W#+(r Co#"(+ .(n H#r#n/ E$%o'((+ ,n M,n,/(r+
82
K
Consi%er te cor&orate cuture tat tis &ros&ecti'e em&o+ee or manager must !it into an% %etermine i! tere is a matc.
K
oing so "i ensure tat not on+ "i te em&o+eemanager matc te com&an+Fs e&ectations *ut te com&an+ "i matc te em&o+eeFs or managerFs e&ectations.
*
B( ,n E11("t#2(9 Et#", L(,(r
>*
B( , Gr(,t Mot#2,tor9 Inno2,tor ,n L(,(r
K
,ns&ire +our em&o+ees to acie'e great tings.
K
3eie'e in teir ca&a*iities.
K
Encourage tem o!ten to stretc out o! teir com!ort #ones.
K
9isten to teir i%eas an% im&ement tem.
K
,n a nutse$ cam&ion tem an% te+ "i cam&ion +ou an% te com&an+.
*
Tr(,t E$%o'((+ F,#r' ,n R(+%("t1!'
K
our em&o+ees are +our com&an+Fs *est asset an% +ou must &rotect an% nurture tem.
K
6eter +ou no" it or not$ +ou are in te *usiness o! gro"ing &eo&e. 80
K
9et tem no" o" 'aua*e teir contri*utions are to te com&an+.
K
Honor +our commitments to tem.
R(t(nt#on Str,t(/#(+ o1 BIG BAZAAR To& Per!ormer Pro!iing Orientation an% On3oar%ing Per!ormance Re'ie"s Career Pating an% Te T"o/6a+ =aue Pro&osition Communication an% Em&o+ee Engagement Morae 3oosting Com&etiti'e Com&ensation Non/monetar+ Re"ar% an% Recognition Em&o+ee Sur'e+s Eit ,nter'ie"s Te 3oomerang E!!ect
@*
To% P(r1or$(r Pro1#(+
8no.#n/ o. to +(("t t( r#/t %(o%(9 ,n #n 1 ,"t9 ,"t!,' +(("t#n/ t($ #+ (++(nt#, to +!""(++1! %(r1or$,n"(* / 3i Pooc$ XPeo&e Are
E'er+tingY ,t is im&ortant tat *ot te organi#ation an% te em&o+ee no" "at te+ "ant to get out o! te o*.
85
Te goa !or an+ recruitment strateg+ sou% *e to attract a to& &er!ormer "o "i sta+ "it te com&an+ !or as ong as &ossi*e. ,n or%er to ire tose Xnear &er!ectY in%i'i%uas$ an i%ea roe &ro!ie sou% *e create%. ,! a com&an+ s&en%s -uait+ time$ energ+ an% !ocus to create suc a &ro!ie it *ecomes muc easier to source -uai!ie% can%i%ates "o "i success!u+ !i te &osition.
A can%i%ate &ro!ie sou% *e *uit aroun% eisting to& &er!ormer4s sis$ no"e%ge an% *ea'iour. Using &re%icti'e &er!ormance &ro!iing suc as rae4s P0 &ro'es in'aua*e in tis &rocess. ,t "i matc can%i%ates to tese criteria an% %istinguis tem as !uture e+ contri*utors in +our organi#ation.
7*
Or#(nt,t#on ,n On3o,r#n/
Once i%ea can%i%ates are ire%$ teir orientation to te com&an+ an% te roe is &aramount. Orientation is te critica X!itting inY &ase o! te training &rocess. Ne" ires are oriente% to te "or&ace cuture$ traine% in te roe an% earn te com&an+4s e&ecte% outcomes. Te orientation &rocess must &ro'i%e a cear un%erstan%ing o! te roe an% te &er!ormance targets necessar+ to attain to com&ete te roe success!u+. 3+ esta*ising tese
88
targets !rom te outset$ te em&o+ee "i not *e !ace% "it sur&rise e&ectations$ instiing *ot con!i%ence an% reia*iit+.
On*oar%ing continues !ar &ast te &oint "ere orientation &rograms t+&ica+ en%. Some orientation e&eriences concu%e a!ter a cou&e o! %a+s o! te em&o+ee4s !irst %a+. et$ a num*er o! more enigtene% com&anies a'e eten%e% teir orientations !or a num*er o! monts$ con%ucting !oo"/ u& sessions on a &erio%ic *asis. Tis onger a&&roac o!ten ser'es to %ee&en te *on%s "it te em&o+ee *+ &ro'i%ing more attention$ uman interaction an% in!ormation.
6*
P(r1or$,n"( R(2#(.+
Positi'e !ee%*ac on a reguar *asis %oes more to &ro&e success in an in%i'i%ua tan an+ oter &er!ormance reate% tactic. Per!ormance re'ie"s are a cance to !orma+ communicate an em&o+ee4s contri*ution to te com&an+. A &ro&er+ con%ucte% &er!ormance re'ie" &ro'i%es te em&o+ee an% teir manager an o&&ortunit+ to ste& *ac$ oo at te *igger &icture o! te em&o+ee4s &er!ormance an% to %iscuss in *roa% stroes "eter te &er!ormance is *eo"$ at or a*o'e com&an+ e&ectations.
8:
Per!ormance Re'ie"s increase te cance o! an un%er&er!orming em&o+ee im&ro'ing teir &er!ormance.
*
Co$$!n#",t#on ,n E$%o'(( En/,/($(nt
Cear an% o&en communication is te *est !oun%ation !or nurturing sta!!. Noting sa+s res&ect or mo%es em&o"erment more tan managers "o acti'e+ isten to teir em&o+ees. Te acti'e istener a&&reciates te em&o+ee4s !eeings$ in&ut an% concerns "ic can *e te most cost/ e!!ecti'e "a+ to acno"e%ge &eo&e. 3eing ear% *ui%s se!/esteem an% em&o+ees "it ig se!/esteem !ee truste% an% 'aue% an% are ess ie+ to !ee marginai#e%.
Peo&e "or !or &eo&e$ not com&anies$ an% &eo&e nee% to communicate e!!ecti'e+ to ensure tat teir 'oices are *eing ear% an% teir concerns a%%resse%.
>*
Mor,(
6eter em&o+ees are ea%ing !or te eits at an aarming rate or *ecause em&o+ee reations issues are *ecoming increasing+ &ro*ematic$ te issue o! morae is critica to o&erationa success an% sou% *e te cornerstone !or
8;
an+ retention strateg+. Morae %irect+ a!!ects te *ottom ine troug its im&act on &ro%ucti'it+$ customer ser'ice (an% tere!ore customer o+at+)$ turno'er$ a*senteeism an% itigation.
Morae &ro*ems are e&erientia &ro*emsD te+4re a resut o! a negati'e or %issatis!+ing "or e&erience %ue to te actua o* itse!$ one4s reationsi& "it teir *oss$ not a'ing a%e-uate training or a m+ria% o! oter !actors tat a!!ect morae. Since morae &ro*ems are %ue to an unsatis!+ing "or e&erience$ te ans"er is in canging te "or e&erience. More s&eci!ica+$ te ans"er is in creating a "or e&erience tat itse! is re"ar%ing (not a"a+s !un$ *ut re"ar%ing).
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Co$%(t#t#2( Co$%(n+,t#on9 B(n(1#t+ ,n In"(nt#2(
Pro/r,$ Com&etiti'e com&ensation an% *ene!it &acages incu%ing saar+$ *onuses$ stoc o&tions$ an% te tra%itiona eat insurance an% retirement &acages are toos tat some com&anies use to e& ee& em&o+ees on*oar%. Saar+ increases sou% *e structure% to sta+ com&etiti'e "itin +our maret sector$ geogra&+ an% te &osition.
8<
Care!u+ %e'eo&e% *onus or &ro!it saring &rograms &ro'i%e encouraging$ goa/oriente% initiati'es !or em&o+ees to aim to"ar%s. Te goas !or success set out *+ te manager an% te em&o+ee are more attaina*e i! reaistic an% &ractica incenti'es are !irm+ in &ace.
*
Non-Mon(t,r' R(.,r R("o/n#t#on
Creati'e non/monetar+ re"ar% an% recognition &rograms can *e &o"er!u toos. ,ncreasing+$ com&anies are using in!orma meto%s !or re"ar%ing sta!! "ie !inancia com&ensation is *ecoming ess te norm !or recogni#ing em&o+ee accom&isments. Re"ar% s+stems tat are &erson/ *ase% are &ro'ing to *e e!!ecti'e es&ecia+ "en recognition is ine% to &ersona %esires or nee%s suc as7
Time O!! ?ei*e "or ours o*/saring O!!ice S&ace Home O!!ice S&ecia Proects$ Committee ,n'o'ement Pu*ic Acno"e%gment Career %e'eo&ment an% training Com&an+ organi#e% %iscounts suc as !itness mem*ersi&s$ %iscounts on com&an+ &ro%ucts ser'ices$ %iscounts on cient4s &ro%ucts
ser'ices Communit+ an% Carit+ ,n'o'ement
8@
=*
E$%o'(( S!r2('+
Coecting sur'e+ %ata an% un%erstan%ing concerns is on+ te !irst ste&. Managers nee% to cra!t an% im&ement &oicies tat meet em&o+ee concerns ea%/on. Organi#e com&an+/"i%e communication sessions tat !ee% *ac sur'e+ res&onses an% associate% actions$ tis ets em&o+ees no" te+ are *eing ear% an% tat teir issues are *eing a%%resse%. Em&o+ee sur'e+s are *est %ei'ere% *+ a tir% &art+ consutati'e com&an+
<*
E:#t Int(r2#(.+
F,"t+ o not "(,+( to (:#+t 3(",!+( t(' ,r( #/nor(* A%ous Hue+
,t is unreaistic to tin tat goo% &eo&e can *e tra&&e%. So$ "en &eo&e %o ea'e it is im&ortant to no" "+ an% a%ust iring &ro!ies$ &oicies an% &ractices "itin te com&an+ to a%%ress te concerns. A structure% eit inter'ie" &rogram can &a+ an integra roe in em&o+ee retention. Remem*er it is im&ortant to earn !rom te in!ormation geane% in tese inter'ie"s. 3+ not &a+ing attention to te resuts turno'er "i continue !or te same reasons.
Tere are !i'e e+ gui%eines tat sou% *e e&t in min% to e& ensure tat te en% resut is a use!u an% e!!ecti'e sur'e+7
:B
o not !ocus soe+ on te em&o+ee4s reasons !or ea'ing *ut aso on te em&o+ee4s attitu%es an% e&eriences tat i%enti!+ te issues an% concerns "ic ma+ not sur!ace "en asing a*out reasons !or
ea'ing. Ensure tat tere is more tan one "a+ !or em&o+ees to e&ress teir reasons !or ea'ing V incu%ing se'era o&en/en%e% -uestions !or tem to incu%e teir o"n comments V to get a !u &ers&ecti'e on teir %ecision to ea'e. ,ncor&orate e+ *ea'iora measures suc as te em&o+ee4s satis!action "it te o* itse!$ o" "e te em&o+ee4s o* res&onsi*iities
"ere
%e!ine%$
&ercei'e%
o&&ortunities
!or
a%'ancement an% te em&o+ee4s &ers&ecti'e on te amount o! training$ !ee%*ac an% recognition recei'e%. Recogni#e tat eit inter'ie" &ractices nee% to *e im&emente% consistent+ an% in suc a "a+ as to encourage em&o+ees to sare teir o&inions onest+. ,ncor&orate te a*iit+ to eamine resuts not on+ on te *asis o! in%i'i%ua resuts *ut !or te organi#ation as a "oe.
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@;*
T( Boo$(r,n/ E11("t
Te "or% 3oo$(r,n/ as recent+ *een use% to %escri*e em&o+ees "o return to an organi#ation. 3oomerang em&o+ees are usua+ 'er+ committe% to teir &osition an% te com&an+ an% are tere!ore can *ecome te some o! +our *est recruiters !or ne" taent an% mentors !or eisting em&o+ees. Te time te+ a'e s&ent a"a+ !rom te organi#ation as gi'en tem te a%%itiona no"e%ge o! te maret$ an% te+ a'e &ersona+ e&erience% tat &era&s te grass isn4t greener on te oter si%e. Co$%,n' Pro1#(
B#/ B,4,,r is a cain o! +&ermaret in ,n%ia. As o! une 2$ 2B12 tere are 215 stores
across @B cities an% to"ns in ,n%ia co'ering aroun% 1: miion s-.!t. o! retai s&ace. 3ig 3a#aar is %esigne% as an aggomeration o! *a#aars or ,n%ian marets "it custers o!!ering a "i%e range o! mercan%ise incu%ing !asion an% a&&ares$ !oo% &ro%ucts$ genera mercan%ise$ !urniture$ eectronics$ *oos$ !ast !oo% an% eisure an% entertainment sections. 3ig 3a#aar is &art o! ?uture Grou&$ "ic aso o"ns te Centra H+&ermaret$ 3ran% ?actor+$ Pantaoons$ eONE$ HomeTo"n$ !uture*a#aar.com$ 3Fs ?air Price to name a !e" an% is o"ne% troug a "o+ o"ne% su*si%iar+ o! Pantaoon Retai ,n%ia 9imite%(3SE7 8208;5 8208;5)$ tat is iste% on ,n%ian stoc ecanges. History
3ig 3a#aar "as aunce% in Se&tem*er$ 2BB1 "it te o&ening o! its !irst !our stores in Cacutta$ ,n%ore$ 3angaore an% H+%era*a% in 22 %a+s. 6itin a s&an o! ten +ears$ tere are no" 1:1 3ig 3a#aar stores in @B cities an% to"ns across ,n%ia. 3+ Se&tem*er
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2B12 3,G 3AAAR "i a'e t"o more stores in Nort east name+ S,9CHAR an% ORHAT in Assam. 3ig 3a#aar "as starte% *+ isore 3i+ani$ te Grou& CEO an% Managing irector o! Pantaoon Retai ,n%ia. Toug 3ig 3a#aar "as aunce% &ure+ as a !asion !ormat incu%ing a&&are$ cosmetics$ accessor+ an% genera mercan%ise$ o'er te +ears 3ig 3a#aar as incu%e% a "i%e range o! &ro%ucts an% ser'ice o!!erings un%er teir retai cain. Te current !ormats incu%es 3ig 3a#aar$ ?oo% 3a#aar$ Eectronic 3a#aar an% ?urniture 3a#aar. Te ins&iration *ein% tis entire retai !ormat "as !rom Sara'ana Stores$ a oca store in T. Nagar $ Cennai Te stores are customi#e% to &ro'i%e te !ee o! man%is an% meas 2Q "ie o!!ering te mo%ern retai !eatures ie >uait+$ Coice an% Con'enience. As te mo%ern ,n%ian !ami+Fs !a'orite retai store$ 3ig 3a#aar is &o&uar+ no"n as te ,n%ian 6amart. On success!u com&etion o! ten +ears in ,n%ian retai in%ustr+$ in 2B11$ 3ig 3a#aar as come u& a ne" ogo "it a ne" tag ine7 Na+e ,n%ia a 3a#aar4$ re&acing te earier one7 F,sse Sasta Aur Acca ain NainF. 0Q Strategy 6-C T(or'
Accor%ing to isore 3i+aniFs 0/C teor+$ Cange an% Con!i%ence among te entire &o&uation is ea%ing to rise in Consum&tion$ troug *etter em&o+ment an% income "ic in turn is creating 'aue to te agricutura &ro%ucts across te countr+. 5Q 3ig 3a#aar as %i'i%e% ,n%ia into tree segments7 ,n%ia one7 Consuming cass "ic incu%es u&&er mi%%e an% o"er mi%%e cass (15 o! ,n%iaFs &o&uation). ,n%ia t"o7 Ser'ing cass "ic incu%es &eo&e ie %ri'ers$ ouseo% e&s$ o!!ice &eons$ i!tmen$ "asermen$ etc. (88 o! ,n%iaFs &o&uation) an%
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,n%ia tree7 Strugging cass (remaining 01 o! ,n%iaFs &o&uation). 6ie 3ig 3a#aar is targete% at te &o&uation across ,n%ia one an% ,n%ia t"o segments$ Aa%aar 6oesae is aime% at reacing te &o&uation in ,n%ia tree segment. 6it tis$ ?uture Grou& emerge% as a retai %estination !or consumers across a casses in te ,n%ian societ+. Operations
Te 3ig 3a#aar Store in Nag&ur. Most 3ig 3a#aar stores are muti/e'e an% are ocate% in stan%/aone *ui%ings in cit+ centers as "e as "itin so&&ing mas. Tese stores o!!er o'er 2BB$BBB SUs in a "i%e range o! categories e% &rimari+ *+ !asion an% !oo% &ro%ucts. ?oo% 3a#aar$ a su&ermaret !ormat "as incor&orate% "itin 3ig 3a#aar in 2BB2 an% is no" &resent "itin e'er+ 3ig 3a#aar as "e as in in%e&en%ent ocations. A t+&ica 3ig 3a#aar is s&rea% across aroun% 8B$BBB s-uare !eet (5$:BB m2) o! retai s&ace. 6ie te arger metro&oises a'e 3ig 3a#aar ?ami+ centres measuring *et"een ;8$BBB s-uare !eet (;$BBB m2) an% 1:B$BBB s-uare !eet (18$BBB m2)$ 3ig 3a#aar E&ress stores in smaer to"ns measure aroun% 0B$BBB s-uare !eet (2$
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V,!(+ & C!t!r(+ O!r V,!(+ 6e acno"e%ge tat e'er+ in%i'i%ua *rings %i!!erent &ers&ecti'es an% ca&a*iities to te team an% tat a strong team comes togeter "it a 'ariet+ o! &ers&ecti'es. 6at o% tem togeter are te core 'aues tat a+ te !oun%ation o! tis strengt. Troug te entire cain o! ?uture Grou& "e i%enti!+ tese 'aues "it "at is cae% Te ?uture Grou& Gene. •
In#,nn(++) Con!i%ence in ourse'es.
•
L(,(r+#%) To *e a ea%er$ *ot in tougt an% *usiness.
•
R(+%("t & H!$##t') To res&ect e'er+ in%i'i%ua an% *e um*e in our con%uct.
•
Intro+%("t#on) 9ea%ing to &ur&ose!u tining.
•
O%(nn(++ & Tr,n+%,r(n"') To *e o&en an% rece&ti'e to ne" i%eas$ no"e%ge
an% in!ormation. •
V,!#n/ ,n N!rt!r#n/ R(,t#on+#%+) To *ui% ong term reationsi&s.
•
S#$%#"#t' & Po+#t#2#t') Sim&icit+ an% &ositi'it+ in our tougt$ *usiness an%
action. •
A,%t,3##t') To *e !ei*e an% a%a&ta*e$ to meet caenges.
•
Fo.) To res&ect an% un%erstan% te uni'ersa a"s o! nature.
6e 9o'e to re"rite rues$ e'en as "e retain our 'aues.
C!t!r( 6e "or in an en'ironment "ere te %ea%ines are tigter an% te u*iations e'en more eciting. 6e ie to maintain tis energ+ "eF'e got going on$ so "e mae sure to *ring on *oar% eact+ te rigt &eo&e. E'er+one ere as a range o! ama#ing (an% o!ten i%%en) taents an% creati'e interests.
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T(,$ 8,+',% D(or, Pr(+#(nt
as+a& ea%s ?uture 3a#aar. Prior to tis$ as+a& !oun%e% Cau&aati 3a#aar a!ter returning to ,n%ia in No' 2BB;. Cau&aati ena*e% ,n%ian consumers to &urcase &ro%ucts an% ser'ices *+ &one. ,n Se& 2B1B$ Cau&aati merge% into ,n%iaFs argest retaier ?uture Grou&. Earier$ as+a& starte% te US o!!ice o! Geo%esic (NSE7 8B0:@@) in te ca&acit+ o! =P$ 3usiness e'eo&ment %oing onine a!!iiate saes in Nort America an% mo*ie OEM saes in Tai"an Cina. as+a& "as an ear+ em&o+ee at as&er esign Automation. 3esi%es naming te com&an+$ e ma%e contri*utions to te saes cam&aigns !or e+ customers an% &ros&ects in Nort America an% Nortern Euro&e. 6ie a !ina +ear stu%ent at ,,T 3om*a+$ as+a& co/!oun%e% Rigta!$ te !irst cam&us start/u& as &art o! te ,,T 3om*a+ 3usiness ,ncu*ator. A!ter a success!u ac-uisition o! Rigta! *+ Strati!+$ e mo'e% to te Siicon =ae+ in ate 2BBB. Since ten$ e as "ore% "it ig/tec startu&s %oing saes$ *usiness %e'eo&ment an% &ro%uct management. as+a& gra%uate% !rom ,,T 3om*a+ in 2BBB "it a 3. Tec. in Com&uter Science an% Engineering. as+a& o'es tra'eing$ sno"*oar%ing$ *ungee um&ing an% cim*ing mountains. G,!r,2 A/,r.,
Mareting
::
Gaura' ea%s mareting at ?uture 3a#aar. As te ea% o! mareting$ Gaura' is in/carge o! onine tra!!ic$ mareting a!!iiates an% 'en%or &rogram. Gaura' as e% man+ roes in ear+ stage to gro"t &ase startu&s o!ten "oring in com&anies "it ess tan 0B em&o+ees. His ast stint "as "it Amar Citra ata "ere e create% te Ne" Me%ia i'ision !rom scratc an% gre" te s&rea% o! AC Comics to a &at!orms. Prior to AC$ e as "ore% in te micro!inance tecnoog+ sector an% e'en attem&te% a startu& in te com&e e'ent &rocessing s&ace. Gaura' gra%uate% !rom ,,T 3om*a+ in 2BB0 "it an 3. Tec an% M. Tec. in Micro Eectronics.
:;
CHAPTER - V DATA ANALYSIS AND INTERPRETATION
:<
D,t, An,'+#+ An Int(r%r(t,t#on ,t is an astonising si to %isco'er te ne" tings !or a researcer in is stu%+. ,t cas !or te researcer4s o"n u%gment an% si. Ana+sis means a critica eamination o! te assem*e% an% grou&e% %ata !or stu%+ing te caracteristics o! te o*ect stu%+ing an% !or %etermining te &atterns o! reationsi& among te 'aria*es reating to it. PERCENTAGE ANALYSIS METHOD
it is s&ecia ing o! ration. ,t is use% in maing com&arison *et"een t"o or more series o! %ata tat are use% to %escri*e reationsi&. Moreo'er can aso *e use% to com&are te reati'e terms o! te %istri*ution o! t"o or more series o! %ata.
P(r"(nt,/( ,n,'+#+
Actua Po&uation Sim&e Percentage Z ////////////////////////// 1BB Sam&e Si#e
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PERCENTAGE ANALYSIS TABLE @ T,3( No*@ So.+ t( ($%o'((+ ",t(/or' #+tr#3!t#on on t( 3,+#+ o1 /(n(r
S.No.
Gen%er
No.o! Em&o+ees
Sim&e Percentage
1. 2.
Mae ?emae Tota
8< 52 1BB
8< 52 1BB
In1(r(n"(
Te a*o'e ta*e so"s tat 8< o! te em&o+ees are *eong to mae categor+ an% te rest 52 are *eongs to !emae categor+..
C,rt @ C,rt +o.#n/ t( n!$3(r o1 r(+%on(nt+ 3,+( on /(n(r
;B
TABLE 7 T,3( No*7 So.+ t( ,/( .#+( #+tr#3!t#on o1 t( ($%o'((+
S.No.
Age Grou&
No.o! Em&o+ees
Sim&e Percentage
1. 2. 0. 5. 8.
128 ears 2:/08 +ears 0:/58 ears 5:/88 ears A*o'e 88 ears Tota
28 8B 28 B B 1BB
28 8B 28 B B 1BB
INFERENCE
Te a*o'e ta*e so"s tat maorit+ o! te em&o+ees i.e.$ 8B are attaine% te age 128 ears$ 28 o! te em&o+ees are attaine% te age 128 +ears an% 28 o! te em&o+ee are attaine% te age *et"een 0:/58 +ears an% tere is no res&on%ents in te age 5:/88 an% a*o'e 88+ears.
CHART 7 C,rt +o.#n/ ,/( /ro!% o1 r(+%on(nt+
;1
TA39E 0 Ta*e No. 0 So"s te e&erience o! te em&o+ees
S*No* @* 7* 6* * >*
E:%(r#(n"( B(o. @ Y(,r @-6 Y(,r+ - Y(,r+ -< Y(,r+ @;-@7 Y(,r+ Tot,
No*o1 E$%o'((+ = 6> @ ; ; @;;
S#$%( P(r"(nt,/( = 6> @ ; ; @;;
INFERENCE
Te a*o'e ta*e so"s te e&erience o! te em&o+ees i.e$ 5< o! te em&o+ees is *eo" 1 ear$ 08 o! te em&o+ee are *et"een 1/0 +ears an% 1; o! te em&o+ees are *et"een 5/: ears$ tere is no res&on%ents in te ;/@ +ears an% 1B/12 +ears.
CHART 6 C,rt So.#n/ t( (:%(r#(n"( o1 t( r(+%on(nt+
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TABLE T,3( No* So.+ t( #n"o$( (2( o1 t( ($%o'((+
S.No.
,ncome
No.o! Em&o+ees
Sim&e Percentage
1. 2. 0. 5. 8.
Rs. 0BB1 / 5BBB Rs. 5BB1 V 8BBB Rs. 8BB1 V :BBB Rs. :BB1 V ;BBB A*o'e ;BBB Tota
:< 12 8 18 B 28
:< 12 8 18 B 1BB
INFERENCE
Te a*o'e ta*e so"s te income e'e o! te em&o+ee i.e.$ :< o! te em&o+ees is Rs. 0BB1 V 5BBB$ 18 o! te em&o+ees are Rs. :BB1 V ;BBB an% 12 o! te em&o+ees are Rs. 5BB1 V 8BBB$ 8 o! te em&o+ees are Rs. 8BB1 V :BBB.
CHART
C,rt +o.#n/ t( #n"o$( o1 t( r(+%on(nt+
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TABLE >
T,3( No*> S,,r' ,n Co$%(n+,t#on
S.No.
?actors
No.o! Em&o+ees
Sim&e Percentage
1.
Hig+ Satis!ie%
2
2
2.
Satis!ie%
1;
1;
0.
Neutra
2B
2B
5.
issatis!ie%
50
50
8.
Hig+ %issatis!ie%
1<
1<
Tota
1BB
1BB
,N?ERENCE Te a*o'e ta*e so"s em&o+ees satis!ie% "it teir saar+ an% com&ensation i.e$ 2 o! te em&o+ees sai% ig+ satis!ie%$ 1; o! te em&o+ees sai% satis!ie% an% 2B o! te em&o+ees are sai% neutra an% 50 o! te em&o+ees sai% %issatis!ie% an% 1< are ig+ %issatis!ie%.
CHART >
C,rt +o.#n/ +,,r' ,n "o$%(n+,t#on
;5
TABLE T,3( No* L(,2( B(n(1#t+
S.No.
?actors
No.o! Em&o+ees
Sim&e Percentage
1.
Hig+ Satis!ie%
12
12
2.
Satis!ie%
5:
5:
0.
Neutra
00
00
5.
issatis!ie%
@
@
8.
Hig+ %issatis!ie%
B
B
Tota
1BB
1BB
INFERENCE
Te a*o'e ta*e so"s em&o+ees ea'e *ene!its i.e$ 12 o! te em&o+ees sai% ig+ satis!ie%$ 5: o! te em&o+ees sai% satis!ie% an% 00 o! te em&o+ees are sai% neutra an% @ o! te em&o+ees sai% %issatis!ie% an% 1< are ig+ %issatis!ie%.
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TABLE
T,3( No* H(,t r(,t( 3(n(1#t+
S.No.
?actors
No.o! Em&o+ees
Sim&e Percentage
1.
Hig+ Satis!ie%
12
12
2.
Satis!ie%
0@
0@
0.
Neutra
08
08
5.
issatis!ie%
15
15
8.
Hig+ %issatis!ie%
B
B
Tota
1BB
1BB
INFERENCE
Te a*o'e ta*e so"s em&o+ees Heat reate% *ene!its i.e$ 12 o! te em&o+ees sai% ig+ satis!ie%$ 0@ o! te em&o+ees sai% satis!ie% an% 08 o! te em&o+ees are sai% neutra an% 15 o! te em&o+ees sai% %issatis!ie% an% 1< are ig+ %issatis!ie%.
CHART C,rt +o.#n/ ,3o!t t( (,t r(,t( 3(n(1#t+
;:
TABLE = T,3( No* = Lon/ t(r$ ",r( #n+!r,n"(
S.No.
?actors
No.o! Em&o+ees
Sim&e Percentage
1.
Hig+ Satis!ie%
12
12
2.
Satis!ie%
:5
:5
0.
Neutra
10
10
5.
issatis!ie%
11
11
8.
Hig+ %issatis!ie%
B
B
Tota
1BB
1BB
INFERENCE
Te a*o'e ta*e so"s em&o+ees 9ong term care insurance i.e$ 12 o! te em&o+ees sai% ig+ satis!ie%$ :5 o! te em&o+ees sai% satis!ie% an% 10 o! te em&o+ees are sai% neutra an% 11 o! te em&o+ees sai% %issatis!ie%.
CHART =
C,rt +o.#n/ ,3o!t t( Lon/ t(r$ ",r( In+!r,n"(
;;
FINDINGS 1.
Most o! te customers *u+ teir re-uirement in 3ig 3a#aar on te *asis o! 6ee+
an% mont+ *asis. Customers reai#e% tat 3ig 3a#aar stores &ro'i%e -uaitati'e &ro%uctsser'ice "it reasona*e &rice.
2. At &resent time 3ig 3a#aar &ro'i%e %i!!erent t+&es o! &ro%uct assortments to te customers.
0. Continuous+ o&ening o! 3ig 3a#aar cains in %i!!erent maor cities$ increasing -uantities o! te customers &ro!it so" tat 3ig 3a#aar most acce&te% name in organi#e% retai cain in ,n%ia.
5. 3ig 3a#aar main+ %ea "it mi%%e income grou& &eo&e "o "ant -uaitati'e &ro%uct "it reasona*e cost.
8. 3ig *a#aar as a goo% re&utation o! itse! in te maret. :. 3ig *a#aar as &ositione% itse! in te maret as a %iscounte% store. ;. 3ig *a#aar o%s a uge customer *ase. Te maorit+ o! customers *eong to mi%%e cass !ami+. <. ,m&use *u+ing *ea'ior o! customers comes in to &a+ most o! te times in *ig *a#aar. @. Tere are more tan 8B *ig *a#aars in %i!!erent cities o! ,n%ia$ it seems tat tere is a 'ast gro"t o! *ig *a#aar +ing as customers %eman% is increasing !or *ig *a#aars.
1B. 3ig *a#aar is a +&ermaret as it &ro'i%es 'arious in%s o! goo%s ie a&&ares$ grocer+$ stationar+$ !oo% items$ eectronic items$ eater items$ "atces$ e"eer+$ crocer+$ %ecorati'e items$ s&ort items$ cocoates an% man+ more. ,t com&etes "it a te s&eciat+ stores o! %i!!erent &ro%ucts "ic &ro'i%e goo%s at a %iscounte% rate a troug te +ear.
;<
11. Te maor &a+ers in retai in%ustries are 3ig *a#aar$ Te Tata Grou&s (Croma)$ =isa Retai Grou&$ Reiance Retai$ irana stores Sa*a 3a#aar etc.
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SUGGESTIONS •
3ig *a#aar sou% incu%e more o! *ran%e% &ro%ucts its &ro%uct categor+ so as to attract te *ran% coos+ &eo&e to come in to *ig *a#aar.
•
3ig *a#aar sou% &ro'i%e arge å s&ace !or its customers so tat te+ can easi+ &ar teir 'eices.
•
,t sou% mae %i!!erent cas counters !or %i!!erent customers. Cas counter an% cre%it car% &a+ment counter sou% *e &ace% %i!!erent+ in or%er to re%uce te rus an% sa'e te customer4s time. Tis "i *e a in% o! moti'ator !or te customers o! *ig *a#aar.
•
Te ser'ice o! te saes &erson is nee%e% to *e im&ro'e%. Persona care sou% *e taen *+ te saes &erson !or te customers so tat te customers !ee goo%.
•
uring te o!! &ea our4s *ig *a#aar sou% &ro'i%e some o!!ers to its customers so tat &eo&e "ou% *e encourage% to come to *ig *a#aar %uring o!! &ea ours. Te customers "o are &resent in te ma %uring te o!! &ea ours o! *ig *a#aar "i %e!inite+ go in to *ig *a#aar i! sur&rise o!!ers are ma%e at tat time.
•
Customer care %e&artment is nee%e% to tae &ro&er care o! customer com&aints an% -ueries. Te &erson sitting at te e& %es o! *ig *a#aar sou% *e a*e to &ro'i%e a necessar+ in!ormation to te customers "ene'er it is re-uire%.
•
Te in!rastructure is nee%e% to *e cange% a *it %uring "eeen%s as ea'+ cro"% comes in to *ig *a#aar %uring tose %a+s.
CONCLUSION) Retention &rograms o!ten !ai *ecause managers %o not no" an%$ tere!ore$ %o not act on temost im&ortant areas a!!ecting an% em&o+ee4s intention to ea'e. Across te organi#ations$ in%i'i%ua %e'eo&ment an% career a%'ancement stan% out as *ot !re-uent an% critica e+ %ri'ers o! an+ em&o+ee4s intent to ea'e.
6ie te genera concusions across organi#ations ma+ a&&ear simiar$at
more micro e'e$ te
com&osition an% or%ering o! s&eci!ic retention e+ %ri'ers is uni-ue to eac com&an+. ,n a%%ition$ te meaning attace% to s&eci!ic %ri'ers an%$ tere!ore$ te actions to *e taen ma+ 'ar+ *+ organi#ation.
3e!ore im&ementing targete% soutions to im&ro'e retention$ managers nee% to %etermine "ic !actors %ri'e retention t teir organi#ation as "e as te meaning o! tose %ri'ers. Tus , concu%e tat tis em&o+ee retention is 'er+ im&ortant tas in an e'er+ organi#ation to a'e retaine% te em&o+ees.
P!t +#$%' - 'o! ,2( , +!""(++1! "o$%,n' #1 'o! tr(,t 'o!r ($%o'((+ .( +o t(' .,nt to +t,' .#t 'o!*
•
Em&o+ers "o are a*e to minimi#e teir em&o+ee turno'er %uring te recession &erio% are going to emerge !rom it stronger an% eatier
•
tan tose com&anies "ose em&o+ees a'e %e!ecte%. o e'er+ting +ou can to mae sure tat +ou ee& +our em&o+ees
•
a&&+$ engage%$ an% &ro%ucti'e. our com&an+ %e&en%s on it. Hiring to&/&er!orming an% entusiastic em&o+ees re-uires a certain nac. 3ut ee&ing tose em&o+ees is an art. ,ncreasing retention re-uires care!u &anning an% im&ementation resuting in a soi% &rogram "ic incor&orates man+ or a o! te soutions mentione% a*o'e.
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,n !act$ man+ o! te retention strategies mentione% a*o'e cost itte or no mone+ to im&ement an% re-uire noting more tan care!u+ &anne% time %e%icate% to ong/term goas. Com&anies must reai#e tat *+ ee&ing teir turno'er e'es o"$ te+ are in !act im&ro'ing
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teir *ottom ine. Te cost o! retaining eisting to& &er!orming em&o+ees$ te cost
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%i!!erence an% time constraints is staggering. ,t is essentia tat e'er+ recruiter an% manager sou% *e concerne% "it retention !rom te start o! an+ recruiting &rogram. Te &rocess sou% *e conscious o! te en% goa7 To ee& te in%i'i%uas "o out&er!orm in +our com&an+. Maing te ne" em&o+ee a"are tat te intention is to ee& tem as ong as &ossi*e. Encourages te em&o+ee in committing to ong/term goas an% &anning "itin te organi#ation.
Tis stu%+ "i e& in e'auating em&o+ee retention &rogram to ensure tat our organi#ation as te *est &ossi*e &ractices in &ace to re%uce cost+ turno'er. To &artner "it a !or"ar% tining organi#ation "o "i %ei'er -uanti!ia*e resuts to +our retention &ro*em an%$ utimate+$ +our *ottom ine$ tese strategies can e& a ot.
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QUESTIONNAIRE
N,$() D(+#/n,t#on)
Q!,#1#",t#on)
# W' a'e +ou cosen to remain em&o+e% "it te BIG-BAZAAR?
Career a%'ancement o&&ortunities Caenging "or Saar+ Em&o+ee *ene!its 9ess tra'e Su&er'isionmanagement Oter [[[[[[[[[[[[[[[[[[[[[[[[[
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