...A PROJECT REPORT ON “TALENT RETENTION AND EMPLOYEE ENGAGEMENT” FOR RING + AQUA A SUBSIDARY OF RAYMOND LTD. SUBMITTED TO UNIVERSITY OF PUNE IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF MASTER OF BUSINESS ADMINISTRATION (MBA) SUBMITTED BY KAVITA M. PAWAR UNDER THE GUIDANCE OF PROF. AMOL KARE SIR VISVESVARAYA INSTITUTE OF TECHNOLOGY, CHINCHOLI, NASHIK- 422 101. 2012-2013 STUDENT’S DECLARATION I undersigned myself declare that, the project entitled, “ TALENT RETENTION AND EMPLOYEE ENGAGEMENT” is executed as per the course requirement of two year full time MBA program of University of Pune. This report has not been submitted by me or any other person to any other University or Institution for a degree or diploma course. This is my own and original work. Place: NASHIK Sign of student Date: Kavita M. Pawar ACKNOWLEDGEMENT A project can’t be said to be the work of an Individual. A project is a combination of views, ideas, suggestions & contribution of many people. I am extremely thankful to my project guide Prof. Amol Kare who gave me the opportunity to do this project on subject “A Study of Employee Engagement with Special Reference to Ring Plus Aqua Ltd; Sinnar” as a major part of curriculum. I wish to express my sincere gratitude to my Ring Plus Aqua Human Resources & engineering...
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...WPS05 Employee Engagement SIES College of Management Studies Working Paper Series The Working Paper Series would attempt to disseminate the findings of research in specific areas and also to facilitate discussions and sharing of perspectives and information about the identified areas. The papers carry the names of the authors and should be cited accordingly. The views, findings, and interpretations expressed in this paper are entirely those of the authors. They do not represent the views of SIESCOMS and its management. These working papers would be available online at www.siescoms.edu. No part of the paper can be reproduced in any form without the prior permission of the author. However, they can be quoted by citing the reference. 1 Working Paper 05/07 Employee Engagement Nitin Vazirani Dean in OB and HR SIES College of Management Studies Nerul nitin@siescoms.edu Abstract Employee engagement is the level of commitment and involvement an employee has towards their organization and its values. An engaged employee is aware of business context, and works with colleagues to improve performance within the job for the benefit of the organization. It is a positive attitude held by the employees towards the organization and its values. The paper focuses on how employee engagement is an antecedent of job involvement and what should company do to make the employees engaged. The paper also looks at the Gallup 12 point questionnaire, twelve-question survey that identifies...
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...PROJECT REPORT ON ACC LIMITED (SALES UNIT) NAGPUR EMPLOYEE ENGAGEMENT A Report Submitted to Rashtrasant Tukadoji Maharaj Nagpur University In Partial Fulfilment of the requirement of Master of Business Administration (MBA) Course Specialization in Finance & Human Resources Management Academic Session 2013- 14 Prepared by PRITI ASHOK MOHITE (Student Name) SARAN MAM Guided by ____________________________ (Guide’s Name) Tirpude Institute of Management Education Note : (Font : Times new Roman 14 – Regular for all text and for Subject Name, Student Name, Guide Name and College Name used Times New Roman – Size 14, Bold) Note : (Font : Times new Roman 14 – Regular for all text and for Subject Name, Student Name, Guide Name and College Name used Times New Roman – Size 14, Bold) Civil Lines, Sadar, Nagpur – 440001 Certificate This is to certify that Miss. PRITI ASHOK MOHITE is a bonafide student of Tirpude Institute of Management Education, Nagpur pursuing Master of Business Administration (MBA) course specialization in FINANCE & HUMAN RESOURCE Management during academic Session 2012-13. The candidate has worked under the supervision of SARAN MAM (Guide name) and has satisfactorily completed his / her project work in this academic session. The project submitted by him / her is his /her own work and is complete so as to warrant its presentation for examination. His / Her project work titled EMPLOYEE ENGAGEMENT (title of project) which is in partial fulfilment...
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...Employee engagement From Wikipedia, the free encyclopedia Jump to: navigation, search Employee engagement, also called worker engagement, is a business management concept. An "engaged employee" is one who is fully involved in, and enthusiastic about their work, and thus will act in a way that furthers their organization's interests. According to Scarlett Surveys, "Employee Engagement is a measurable degree of an employee's positive or negative emotional attachment to their job, colleagues and organization that profoundly influences their willingness to learn and perform at work". Thus engagement is distinctively different from employee satisfaction, motivation and organisational culture. Origins Employee Engagement is the extent to which employee commitment, both emotional and intellectual, exists relative to accomplishing the work, mission, and vision of the organisation. Engagement can be seen as a heightened level of ownership where each employee wants to do whatever they can for the benefit of their internal and external customers, and for the success of the organization as a whole. Employee engagement was described in the academic literature by Schmidt et al. (1993). A modernised version of job satisfaction, Schmidt et al.'s influential definition of engagement was "an employee's involvement with, commitment to, and satisfaction with work. Employee engagement is a part of employee retention." This integrates the classic constructs of job satisfaction (Smith et al., 1969)...
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...With the high costs of disengagement and employee turnover, it’s a little wonder that companies are looking for ways to optimize the stages of their employee life cycle. “The cost of disengagement is staggering – it leads to more than $450 billion in lost profits in the U.S. annually!” as per Gallup’s State Of The American Workplace: Employee Engagement Insights For U.S. Business Leaders. According to experts, when it comes to the cost of employee turnover the, “estimates run as high as 150 percent of annual salary!” The stages of an employee life cycle are defined or named differently across organizations, but this is how employee life cycle looks like in most companies: While analyzing insights from our clients, at 9Lenses we do a “Tenure Segmentation,” which categorizes the employee life cycle into Less than One year, 1-2 years, 2-4 years and 4+ year. We then track employee engagement through these stages of an employee life cycle using passive engagement measures. But before we move on any further, here are two theories that you need to know. These theories have been proved time and time again by researches and most of our data-sets confirm them too: 1. Engagement is Related to Tenure. Studies have consistently revealed that larger organizations struggle with employee engagement through various stages. “The highest employee engagement occurs in companies employing less than 10 people.” This may be reflected in the growing number of people leaving large companies to...
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... Communication driven An evolution from ‘information’ to ‘improvement’ Mahindra Farm Equipment has implemented a unique method to Reach-Out to its employees resulting in high employee engagement and effective communication. Mahindra Farm Equipment, a major SBU of Mahindra & Mahindra, considers it human resource to be a vital element in the success of its business. Mahindra Farm Equipment believes that effective communication is most important and it is its key driver of employee engagement amongst others. The organization has researched widely and proven to add significant value to the organization on all metrics from productivity to customer satisfaction. In fact Mahindra Farm Equipment not only recognizes the value it brings but also institutionalizes it with a lot of vigor and commitment. Like many other organization, Mfg has been conducting an annual employee engagement survey through Gallup for the last seven years. The results of the survey done in March 2005 had revealed that areas such as information and feedback about the business; alignment of business goals and individual Mo Ps; hierarchical/bureaucratic work culture; work environment and work life balance remuneration/promotion system; and superior-subordinate relationship needed more attention. The survey results had also pointed that employees were not very satisfied with the effectiveness with which the top management of the sector was communicating with all the employees. There seemed to be...
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...Organization development (OD) is a deliberately planned, organization-wide effort to increase an organization's effectiveness and/or efficiency and/or to enable the organization to achieve its strategic goals. The primary purpose of OD is to develop the organization, not to train or develop the staff. “Interventions” are principal learning processes in the “action” stage of organizational development. Interventions are structured activities used individually or in combination by the members of a client system to improve their social or task performance. They may be introduced by a change agent as part of an improvement program, or they may be used by the client following a program to check on the state of the organization's health, or to effect necessary changes in its own behavior. TATA CONSULTANCY SERVICES (TCS) * About the company Tata Consultancy Services Limited (TCS) is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, with a high level of certainty. TCS offers a consulting-led, complete and integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. * Intervention I: PROPEL- CULTURE BUILDING AT TCS (Human Process Intervention) PROPEL was introduced as a revolutionary intervention with the dual objectives of facilitating the exchange of ideas and helping in immediate problem...
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...WHITE PAPER - How to address the key issues for measuring Internal Communication effectiveness - 2014 Summary: Many professionals working in Internal Communications struggle to document and analyse challenges they face and the results they deliver. This white paper looks at the issues for measuring internal communications effectiveness by answering five simple questions; why measure, what to measure, how to measure, how to analyse and how to drive action? The paper offers practical advice on how to approach measurement and aims to enable professionals to conduct better and more focused research in order to demonstrate how they deliver business value. A key point of the paper is that effective internal communications not only requires tracking and reporting of past efforts, but it also entails profound analysis of key issues and what actions are needed to mitigate risks and to capture opportunities. Authored by: Klavs Valskov, see more at valskov.com INTRODUCTION Since the financial crisis, leaders are more than ever running their organisations on data and numbers. That means airtime in the boardroom is given to the teams that are able to supply issues analysis, peer comparisons, SWOT analyses of markets, forecast models and future scenarios based on objective evidence. People who can talk about threats and opportunities and make suggestions from a position of analysis and insight get listened to. Yet many professionals working in Internal Communications continue to...
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...When you think of the word empowerment, what comes to most peoples mind is power or at least that is what comes to my mind. In the American Heritage College dictionary fourth edition, it is a noun of the word “empower”, they describe it as “1.to invest with power esp. legal power or official authority, and 2. To equip or supply with an ability; enable.” (Empower, 2010, 2002, p. 460) In my research on the subject, I found that people use the word in different context in different fields of study or genres of practice but it all comes back to some person having a feeling of power therefore empowerment. In one study on ”the empowerment of youth as a strategy to reduce crime in Nigerian society” they say, “In recent years, almost all governments of countries of the world, including advanced countries have sought new approaches to harness the potential of young people and address the problems facing them. The concept of youth empowerment has gained increasing attention. Youth empowerment means involving young people in decision making processes on issues that affect them, as well as entrusting them with the knowledge and skills necessary for them to effectively and meaningfully participate.” (Olaleye, 2010, p. 104) In another article from the Journal of marketing published by American Marketing Association entitled the psychological effects of empowerment strategies on consumers’ product demand, “since the internet is here companies now utilize that as a tool to involve customers...
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...Issue 6 Employee engagement August 2011 Issue 6 Employee engagement August 2011 APS Human Capital Matters: Employee engagement August 2011, Issue 6 Editor’s note to readers Welcome to the sixth edition of Human Capital Matters—the digest for time poor leaders and practitioners with an interest in human capital and organisational capability. This edition focuses on the concept of employee engagement and its application to the public service workforce. The contribution of employee engagement to organisational performance is central to many of the human capital reform initiatives advocated in Ahead of the Game: Blueprint for the Reform of Australian Government Administration. Importantly, there is an open question on whether the features of employee engagement in the public service differ from that of other organisations. The Australian Public Service Commission is working with other agencies on clarifying not only the key features of APS employee engagement but also what contribution engaged employees make to enhancing organisational capability. The concept of staff engagement has an enormous amount of currency in the business world today; for many the pursuit of ‘engaged’ staff is seen as an end in itself. But there are a broad range of definitions and interpretations of employee engagement in the literature: some are heavy with psychological theory while others link employee views and organisational strategy. However, there are common themes: for example, engagement...
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...Return on Asset of Employee Engagement MSA 602 Financial Analysis, Planning, and Control Submitted by: Kamey Krum-Howe Instructor: Dr. James Neubecker May 5, 2014 Table of Contents Page Number Abstract 3 Term Paper 4 References 13 Appendix A 14 Abstract The purpose of this paper is to measure the return of assets of employee engagement. The paper focuses on cost of measuring employee engagement, ROA of employee engagement, and cost of improving employee engagement at Michigan One Community Credit Union. Based on the assumptions of the paper Michigan One Community Credit Union is estimated to have a return on asset of $22,075.17. Further research is needed as data from Michigan One Community Credit Union is limited. In the modern business world, financial management provides a framework for pursuing synergy between the functional responsibilities and financial resources of the business organization. Management is concerned with all aspects of a company’s financial situation. The information contained in the four basic financial statements is significant to measuring the company’s performance. “Ratio analysis involves methods of calculating and interpreting financial ratios to analyze the firm’s performance (Financial analysis, planning, 2014, pg. 52).” Ratio analysis is more than calculating a given ratio, it is the interpretation of the...
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...most common strategies in managing employee engagement in startup companies in Seattle, Washington, US. Although many research and studies has been conducted to identify strategies to manage the employee engagement, many companies are still unsuccessful to improve their engagement level and their turnover rate. Therefore, this research will narrow the study of employee engagement to a specific type of company, so the result of this study will be most possible to be adopted and referred by other companies in the same category. Engagement level in thirty sample startups will be determined using ISA Engagement Scale and common HR strategies will be evaluated among companies with higher employee engagement score. In the future, the findings of this study can be use as a reference for practitioners at startup companies to develop a better human resource strategy, improving their employee engagement level. Keywords: engagement, startups, human resources, strategy Introduction According to State of the Global Workplace Study by Gallup, there are only 13% of employees are engaged at work in the world. In other word, only one in eight employees that are emotionally committed to their work, contributing to the company’s growth by working effectively and efficiently. Studies have proved that engaged employees contribute to the company’s performance (Arrowsmith & Parker, 2013; Reilly, 2014; Pollitt, 2008) and strategies to improve employee engagement has been identified by numbers of...
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...be engaged at work? Employee engagement is not as simple as it sounds. Many believe that employee engagement simply means having happy employees. However it is a much more complex issue than just happy employees. As Kevin Kruse points out in his article about employee engagement, “Someone might be happy at work, but that doesn’t necessarily mean that they are working hard, productively on behalf of the organization.” (Kruse) Employee engagement is a hot word in the business world that has recently become very important in nearly every organization. Kruse notes that employee engagement is defined as “the emotional commitment an employee has to the organization and its goals.” (Kruse) An employee can be happy at work but if they are not fully engaged they then lack the commitment to go the extra mile to help the organization succeed. A fully engaged employee is more likely to put in extra hours and or overtime to help the organization achieve its goals. An engaged employee usually believes in the goals of the organization and will try their best to make sure that they organization achieves their goals. A disengaged employee can bring down employee morale within the entire organization, as well as negatively affect the organizations profits and reputation. There are a few examples of disengaged employees and how they affect they organization in a negative way. The first example is the employee that is happy at work but still not fully engaged, this employee will come to work as...
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...www.ccsenet.org/ijbm International Journal of Business and Management Vol. 5, No. 12; December 2010 Employee Engagement: The Key to Improving Performance Solomon Markos (Corresponding author) PhD Scholar, Department of Commerce and Management Studies, Andhra University Waltair, Visakhapatnam-530 003, Andhra Pradesh, India Tel: 91-996-664-1683 E-mail: solomonmarkos5@yahoo.com M. Sandhya Sridevi Professor, Department of Commerce and Management Studies, Andhra University Waltair, Visakhapatnam-530 003, Andhra Pradesh, India Tel: 91-984-884-2230 Abstract Employee engagement is a vast construct that touches almost all parts of human resource management facets we know hitherto. If every part of human resources is not addressed in appropriate manner, employees fail to fully engage themselves in their job in the response to such kind of mismanagement. The construct employee engagement is built on the foundation of earlier concepts like job satisfaction, employee commitment and Organizational citizenship behaviour. Though it is related to and encompasses these concepts, employee engagement is broader in scope. Employee engagement is stronger predictor of positive organizational performance clearly showing the two-way relationship between employer and employee compared to the three earlier constructs: job satisfaction, employee commitment and organizational citizenship behaviour. Engaged employees are emotionally attached to their organization and highly involved in their job...
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...Leadership Council Driving Performance and Retention Through Employee Engagement A Quantitative Analysis of Effective Engagement Strategies cil Te le co nfe re nc e Road Map for the Discussion A Unique Point in Time Sizing the Opportunity The Voice of the Workforce Reframing the Organization’s Response The Evolving Employment Contract Source: Corporate Leadership Council 2004 Employee Engagement Survey. © 2004 Corporate Executive Board 1 What Is Employee Engagement? Competing frameworks and definitions… ...contradicting advice… …and widely differing claims for ROI… Sample Engagement Definitions Sample Engagement “Advice” Claimed Benefits of Engagements • Engagement is a positive emotional connection to an employee’s work • Engagement is affective, normative, and continuance commitment • Engaged employees are inspired to go above and beyond the call of duty to help meet business goals • Become a “great place to work” through building trust in colleagues and ensuring employee pride and enjoyment • Increase total shareholder return by up to 47 percent • Segmentation is the key to managing employee commitment and productivity • Better customer feedback • Great managers are key to achieving an engaged workforce • Higher sales • Reduce absenteeism • Less shrinkage of inventory • To achieve motivation, give the employee a “kick in the pants” …lead to conceptual confusion and no...
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