UNIVERSITY OF MUMBAI A PROJECT ON

Employee Attrition And Retention-Study Of Employees In HDFC

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF THE DEGREE OF MASTER IN MANAGEMENT STUDIES

SUBMITTED BY Harshada M. Saindane MMS 2nd yr (ROLL NO - 1158) (HUMAN RESOURCE)

UNDER THE GUIDANCE OF PROF. SAHER KAPDI

ORIENTAL INSTITUTE OF MANAGEMENT, VASHI, NAVI MUMBAI. (2010 - 2012)

CERTIFICATE

This is to certify that Ms. Harshada M. Saindane Roll no. 1158 is a full time bonafide student of Oriental Institute of Management and pursuing Masters of Management Studies (MMS). The project report Title - Employee Attrition And Retention-Study Of Employees In HDFC is completed by her under the guidance of Prof. Saher Kapdi , in the partial fulfilment of the requirements for the award of the degree of Master in Management Studies of Mumbai University is an original work done.

___________________________ (Signature of Director) Oriental Institute of Management Vashi , Navi Mumbai 400703

___________________________ (Signature of Project Guide) Oriental Institute of Management Vashi , Navi Mumbai 400703

DECLARATION

I Harshada M. Saindane Roll No- 1158 student of MMS 2nd Year. IV Semester is hereby to certify that this project work titled Employee Attrition And Retention-Study Of Employees In HDFC Carried out by me, in partial fulfilment of the requirements of the program is an original work of mine under the guidance of Institute mentor Prof. Saher Kapdi. I further declare that it is not a reproduction from any existing work of any person and it has not been submitted to any other university or institute for the award of a degree or diploma or any other similar title of recognition.

(Students signature) Date .. April, 2012

ACKNOWLEDGEMENT

At the outset, I am thankful to my Institute ORIENTAL INSTITUTE OF MANAGEMENT STUDIES, and the authorities, for providing me an opportunity to undertake my degree MASTERS IN MANAGEMENT STUDIES (MMS) and also for sponsoring me to undertake project.

I am thankful to the management for giving me an opportunity to undertake my project Employee Attrition And Retention-Study Of Employees In HDFC under the guidance of Prof. Saher Kapdi as my mentor.

I am grateful to my colleagues for being a wonderful support a through at the same time. I am thankful to all my friend of Oriental Institute of Management for being with me at different juncture of need. I thank Dr.P.K.Bandgar Director of OIM for providing a platform.

I express my sincere gratitude to my project guide Prof. Saher Kapdi for her constant guidance, continuous support and co-operation throughout my project, without which the present work would not have been possible. For the constant support and help in the successful completion of my project.

(HARSHADA M. SAINDANE)

Sr. No.

Contents

Page no.

Introduction

Objectives Of The Study

15

Company Profile

16

Research Methodology

29

Data Analysis and Interpretation

31

Research Findings

41

Conclusion & Suggestions

42

Annexure

43

Reference

46

EXECUTIVE SUMMARY
The project study is in the field of Human Resource Management on the topic Employee Attrition And Retention-Study Of Employees In HDFC A study was done regarding determination of factors causing increase in attrition rate and finding out some retention tools at HDFC Standard Life Insurance Company Ltd. HDFC Standard Life Insurance Company Ltd. is one of Indias largest private life insurer. Attrition is reduction in the number of employees through retirement, resignation or death. Against this, retention is retaining an employee in organization for longer time duration. Retention strategies if properly implemented can change the course of growth and pace of impact of organizations. HDFC SL follows Parichay, Shikhar, Umang, and Sparsh as their Retention tools. The research design used in the project is Exploratory Research Design. The study was done with HDFC SLs exited employee respondents and the research instrument used for the preparation of this project is Questionnaire. Major finding of the study was that maximum numbers of employees of HDFC SL were satisfied with the working environment & behavior of other employees but they were not satisfied with the performance appraisal system, training and development, etc. So the concerned departments should take more interest and more effective actions like training, development etc. to improve upon the shortcomings.