A PROJECT REPORT ON ATTRITION ANALYSIS AT BIG BAZAAR (Future Value Retail Limited)

Submitted By:
Vimalesh Kumar Sbsmdu16mba1962
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CERTIFICATE

This is to certify that VIMALESH KUMAR a student of the MaharshiDayanand University, Rohtakhas prepared his Training Report entitled ATTRITION ANALISYS at BIG BAZAAR(Future Value Retail Limited), under my guidance. He has fulfilled all requirements leading to award of the degree of MBA (Industry Integrated). This report is the record of bonafide training undertaken by him and no part of it has been submitted to any other University or Educational Institution for award of any other degree/diploma/fellowship or similar titles or prizes.

I wish him all success in life.

Signature of Guide with Date:-

ACKNOWLEDGEMENTS

On the successful completion of the project, I take this opportunity to express my sincere gratitude towards Mr. Ashwani Mishra, Manager HR at Big Bazaar for giving me the opportunity to complete my training at Big Bazaar, Civil Line Allahabad.

I thank Mr. Mahendra Singh Rawat HR head under whose guidance I completed this project. I would also like to thank all the others at Big Bazaar for being extremely co-operative and guiding me throughout my project.

I would also like to express my thanks to Mr. Chirag Mallik whose immense involvement in my project, regular feedbacks and suggestions helped me complete my project. She gave the right direction to my project. Without her able guidance, I would not be able to complete my work successfully as she provided help for correcting the project section over and over until I finally got it accomplished efficiently.

STUDENTS DECLARATION I hereby declare that the Training Report conducted at BIG BAZAAR, (Future Value Retail limited) Civil Line Allahabad Under the guidance of Mr. Ashwani Mishra And Mahendra Singh Rawat Submitted in Partial fulfilment of the requirements for the Degree of

MBA TO MDU Rohatk

Is my original work and the same has not been submitted For the award of any other Degree/diploma/fellowship or other similar titles or prizes.

Place: Gurgaon Date: 30/01/2013

Vimaleshkumar Regn. No.: 1130520037 Roll No.: 1190210052

CONTENTS

Sl.no. 1. Objective 2. Executive Synopsis 3. Industry Profile 4. Company Profile Mission, Vision, Values, Marketing size, Culture, History, Main Product, Competitors Information, S.W.O.T Analysis of the Organization. Marketing mix

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5. Departmental study(department structure, role of department) 6. Intern profile(Your profile)

7. SUMMARY AND CONCLUSIONS Summary Of Learning objective Conclusions And Recommendations 8. APPENDICES

9. BIBLIOGRAPHY

INDUSTRY PROFILE
Retail is Indias largest industry, accounting for over 10 percent of the countrys GDP and around 8 percent of the employment. Retail industry In the India is at the crossroads. It has emerged as one of the most dynamic and fast paced industries with several players entering the market. But because of the heavy initial investments required, break even is difficult to achieve and many of these players have not tasted success so far. However the future is promising; the market is growing, government policies are becoming more favorable and emerging tech neologies are facilitating operations.

Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has altered in terms of format and consumer buying behavior, ushering in a revolution in shopping in India. Modern retail has entered India as seen in sprawling shopping centers, multi-storied malls and huge complexes offer shop in, entertainment and food all under one roof. The Indian retailing sector is at an inflexion point where the growth of organized retailing and growth in the consumption by the Indian population is going to take a higher growth trajectory. The Indian population is witnessing a significant change in its demographics. A large young working population with average age of 24 years, nuclear families in urban areas, along with increasing working-women population and emerging opportunities in the services sector are going to be the key growth drivers of the organized retail sector in India.

Future group
Industry Founder(s) Retailing Mr. Kishore Biyani (MD & CEO)

Headquarters Mumbai, Maharashtra, India Products: - Discount, grocery and convenience stores, cash and carry, hypermarkets, financial services. Divisions Pantaloon Retail, Future Value Retail Limited.

Future Group India was established in 1994 with a vision to provide diverse services in Indian and Global markets. The business areas of Future Group cover BPO (Business Process Outsourcing), New Media, Security Management, and Construction. Through their strategic investment and services, the future of Future Group shows a rising star in the business sky of India. Every day, Future Group brings multiple products, opportunities and services to millions of customers in India. Through over 17 million square feet of retail space, we serve customers in 93 cities and 60 rural locations across the country. Most of all, we help India shop, save and realize dreams and aspirations to live a better quality of life every day.

FUTURE RETAIL:
The retails businesses of Future Group in India are divided into three main categories:

Pantaloon Retail India Limited

the leading retail formats under this include:

Pantaloons Stores Big Bazaar Central Food Bazaar Home Town E Zone
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Depot Health & Beauty Malls Online retail through futurebazaar.com Joint Ventures with International Brands

Indus League Clothing that owns leading apparel brands like Indigo Nation, Scullery and Urban Yoga

Galaxy Entertainment Limited that operates Bowling Co, Sports Bar, F123 and Brew Bar French retailer ETAM group, US-based stationary products retailer, Staples and UK-based Lee Cooper.

Franchisee of international brands like Marks & Spencer, Next, Debenhams and Guess in India

Big bazaar
Type Public Industry Founded Retailing 2001

Headquarters Mumbai, Maharashtra, India Products Revenue Employees Department store Rs 6000 crores (in 2011) (Big Bazaar and Food Bazaar combined) ~ 36000 people [1]

Parent Future Group Divisions ~ 214

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Big Bazaar is a chain of hypermarket in India. As of June 2, 2012 there are 214 stores across 90 cities and towns in India covering around 16 million sq.fts. Of retail space. Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters offering a wide range of merchandise including fashion and apparels, food products, general merchandise, furniture, electronics, books, fast food and leisure and entertainment sections. Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand Factory, Pantaloons, e-ZONE, Hometown, futurebazaar.com, KB's Fair Price to name a few and is owned through a wholly owned subsidiary of Pantaloon Retail India Limited (BSE: 523574 523574), that is listed on Indian stock exchanges.

FUTURE GROUPS VISION

To deliver everything ,everywhere, every time , to every Indian customer in the most profitable manner. One of the core values at Future group is Indianness and its corporate credo is REWRITE RULES RETAIN VALUES

Future Groups Mission

Share the vision and belief that our customer and stake Holder shall be served only by creating and executing by Future scenery in the consumption space leading to economy Macs development. Trendsetters in involving delivery format ,creating realty, Making consumption affordable for all customer segments for classes and masses
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 Infuse Indian brand with confidence and renewed ambition Efficiently and cost-conscious and committed to equality

Marketing size
Retailing in India: the present scenario The present value of the Indian retail market is estimated by the India Retail Report to be around Rs. 12,00,000 crore($270 billion) and the annual growth rate is 5.7 percent. Retail market for food and grocery with a worth of Rs. 7,43,900 crore is the largest of the different types of retail industries present in India. Furthermore around 15 million retail outlets help India win the crown of having the highest retail outlet density in the world. The contribution of retail sector to GDP has been manifested below: Country Retail Sector's share in GDP (in %) India 10, USA 10, China 8, Brazil 6

Source: CII-AT Kearney Retail Study

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History of Big Bazaar

Big Bazaar was launched in September, 2001 with the opening of its first four stores in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years, there are now 161 Big Bazaar stores in 90 cities and towns across India. By September 2012 BIG BAZAAR will have two more stores in North east namely SILCHAR and JORHAT in Assam. Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of Pantaloon Retail India. Though Big Bazaar was launched purely as a fashion format including apparel, cosmetics, accessory and general merchandise, over the years Big Bazaar has included a wide range of products and service offerings under their retail chain. The current formats include Big Bazaar, Food Bazaar, Electronic Bazaar and Furniture Bazaar. The inspiration behind this entire retail format was from Saravana Stores, a local store in T. Nagar, Chennai The stores are customized to provide the feel of mantis and meals [2] while offering the modern retail features like Quality, Choice and Convenience. As the modern Indian family's favorite retail store, Big Bazaar is popularly known as the "Indian Walmart". On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar has come up a new logo with a new tag line: Naye India Ka Bazaar, replacing the earlier one: 'Isse Sasta Aur Accha Kahin Nahin'

About Allahabad store: In Allahabad store there are total employees near about 290 On Payroll -135 Brand Promoters -85 Housekeeping -20 Security 30

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Competitors of Big Bazaar: 1. Reliance Retail ltd 2. Odyssey 3 Wal-Mart 4 Landmark group 5 Aditya Birla Group MORE 6. Local grocery market

SWOT ANALYSIS
STRENGTH
High brand equity enjoyed by Big Bazaar Everyday low prices, which attract customers Huge investment capacity It offers a family shopping experience, where entire family can visit together. Available facilities such as online booking and delivery of goods

WEEKNESS
General perception: Low price = Low quality Overcrowded during offers Long lines at billing counters which are time consuming Limited only to value offering low price products, branded products are still missing from Big Bazaars line of products.

OPPERTUNITIES
lot of potential in the rural market, Huge potential rural market to be tapped Opportunities available in the cosmetics industry

THREATS
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Competition from other value retail chains such as Reliance (Fresh and trends). Unorganized retail also appears to be a threat to Big Bazaars business. A large population still prefers to visit local convenient stores for daily purchases

Changing Government policies International players looking to foray India

Marketing mix: Product Mix

APPARELS FOOD FARM PRODUCT CHILL STATION HOME & PERSONAL CARE ELECTRONICS BAZAAR FASHION & JEWELLERY FURNITURE BAZAAR CHILD CARE & TOYS

Pricing
Value pricing :- Big bazaar promises its consumers the lowest available price without coupon clipping, waiting for discount promotions, or comparison shopping Promotional pricing psychological discounting

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Special event pricing Differentiated Pricing Time pricing: - Time-based pricing is a special case of price discrimination in which producers charge different rates for a given good or service depending on the time, day, month, and so on.

Bundling: -Selling combo-packs and offering discount to customers. The combo-packs add
value to customer.

Place: Big Bazaar stores are located in 90 cities with 116 outlets. Area 10,000 sq ft 1,20,000 sq ft. Big Bazaar has presence in almost all the major Indian cities. They are aggressive on their expansion plans.

Promotion: 1. Below the line Promotion: - Coupon Discount, more of the products at normal price, gift with purchase, competitions and prizes, money back offers and exchange offers, special occasions 2. Above the line Promotion: - Giving advertisement in news papers,(Amar Ujala, Dainik Jagran, Hindustan) TV, Internet, (own website which gives online shopping services) Partnership with Bigflix, Big FM 92.7

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Departmental study(department structure, role of department)

ORGANIZATIONAL CHART OF BIG BAZAAR

M1 (ADM) ASM FOOD BAZAAR M2 (DM)

ASM BIG BAZAAR

ELECTRONICS, MANS, LADIS, KIDS, FASHION, FURNITURE, GM, FOOTWARE.

VM / MARKETING SM

HR

ADMIN

HEAD CASHIOUR

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HR NORTH ZONE

NORTH ZONE

REST OF NORTH (RON)

DELHI/NCR

UP (E&W), P&H, MP, etc.

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HR HIERARCHY OF THE ORGANIZATION

HR HEAD NORTH ZONE ASHIS PATNAIK

HR HEAD (NORTH) AMIT BANSAL

HR HEAD (RON) VIKRAM

HR UP (E) RAHUL GUPTA

STORE HR

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STORE HR

LOCKNOW
(4) STORE

ALLAHABAD (1) STORE

KANPUR (3) STORE

Employee turnover and attrition analysis of big bazaar

Definition of 'Attrition
The reduction in staff and employees in a company through normal means, such as retirement and resignation this is natural in any business and industry. This type of reduction in staff is one way a company can decrease labor costs: the company simply waits for its employees to leave and freezes hiring. Such a method contrasts the more severe labor-reduction techniques, such as mass layoffs. Waiting for attrition is usually better for company morale.

Benefits of Attrition
Attrition is not bad always if it happens in a controlled manner. Some attrition is always desirable and necessary for organizational growth and development. The only concern is

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how organizations differentiate good attrition from bad attrition. The term healthy attrition or good attrition signifies the importance of less productive employees voluntarily leaving the organization. This means if the ones who have left fall in the category of low performers, the attrition in considered being healthy. Attrition rates are considered to be beneficial in some ways:

If all employees stay in the same organization for a very long time, most of them will be at the top of their pay scale which will result in excessive manpower costs.

When certain employees leave, whose continuation of service would have negatively impacted productivity and profitability of the company, the company is benefited.

New employees bring new ideas, approaches, abilities & attitudes which can keep the organization from becoming stagnant.

There are also some people in the organization who have a negative and demoralizing influence on the work culture and team spirit. This, in the long-term, is detrimental to organizational health.

Attrition at Big Bazaar Allahabad store: Attrition rate at Allahabad store is lowest among north zone store; it is awarded for the lowest attrition rate.

Positive and negative attrition: -

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Positive attrition Attrition is viewed positively where the change means that the business retains or inherits new skills. This could apply where a team member is promoted, as he/she will still be within the business and the vacancy can be plugged by a new, competent individual. Attrition is also viewed positively where a staff member resigns (or is dismissed) where the individual was under-performing. In this scenario, again, the business is potentially increasing its overall capability by shifting out a poor performer and bringing in somebody new. In essence, if the business benefits from the turnover, it should be seen as positive. Negative attrition

Negative attrition occurs where the opposite situation exists. If a member of staff resigns to take up a role in a different company or simply resigns because they dont enjoy working in the current environment, this is viewed as a loss to the business. Negative attrition brings with it solely the cost of recruitment and training and also additional resource that is required until the skilled employee is in post. Businesses would normally seek to target the root causes of negative attrition to help bring down these costs.

REASONS FOR ATTRITION:

Employees leave the organization for reasons which can be broadly classified as organizational issues, personal reasons. Big Bazaar has its own administrative manual of classifying and grouping the reasons behind attrition. The most common reasons behind attrition are manifold.

Dissatisfaction with the tasks assigned to them Organizational climate not conducive to effective contribution Tasks assigned not challenging (in knowledge sector this is a common reason) Success is not shared with juniors

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Good works are not recognized and rewarded Burn out stress syndrome Rust out stress syndrome Working environment Lack of transparency in administration Canceling of information from juniors Passing the buck (Diverting the blame) Salary and other benefits Personal reasons Better prospects Integrity issue Health grounds

Employee Turnover
Employee Turnover is the Percentage of a company's employees who leave during a specified period. Although it is most often expressed at annual turnover rate, the calculation can be done for shorter or longer periods. Turnover can be caused by employees who leave on their own. This is called voluntary turnover. When an employee leaves because of a layoff or a disciplinary firing this is called involuntary turnover. The total of the two is called total turnover. To calculate turnover rate divide the number of employee who left, in each category, by the total number of employees at the start of the period. For example, Company A has 150 employees. Three employees get fired during the year and 7 quit for personal reasons. The involuntary
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turnover rate is 3/150 or 2%. The voluntary turnover rate is 7/150 or 4.7%. The total turnover rate is 10/150 or 6.7%.

Steps taken by Big Bazaar and attrition: 1. Recruitment and selection: The process of finding and hiring the best-qualified candidate (from within or outside of an organization) for a job opening, in a timely and cost effective manner. The recruitment process includes analyzing the requirements of a job, attracting employees to that job, screening and selecting applicants, hiring, and integrating the new employee to the organization.A process of searching for prospective employees and stimulating them, to apply for the job in the organization

Why recruitment is important: The function of HR is all about people- managing them, hiring them, etc. To carry out any function in a business, be it marketing, production, operations, you need people. HR brings the people to the organization and its business. Every firm whether small or large needs people to do even the minutest clerical work for them. And when there are employees they need to be managed. Recruitment is the very important thing for attrition if recruit right people at right job at right place then there are attrition is definitely low thats why Big Bazaar attrition rate is low. At Big Bazaar there is different type of recruitment for different bands

For Band1 they recruit at store level which is done by store HR.

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BAND 1

TEAM MEMBER (TM)

TEAM LEADER (TL)

And for Band2 and other they recruit at zone level which is situated at Gurgaon.

VM, ADMIN,HR, CASHIER, EXECUTIVE (2C) SUPPORT BAND 2 OPERATION SR.EXECUTIVE (2D)

ADM (2C)

DM (2D)

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BAND 3 (3A, 3B)

ASM (3A) BB & FB SM (3B)

Generally we recruit band1 employee as the employee reference and walk in process and for the band2 and other we are go through job portal For recruitment to happen the company has to do a Job Analysis of the job to be assigned to an eligible candidate. Job Analysis is further bifurcated into 2 sub-parts i.e.

JD & JS: - Job description and job specification is also affect the attrition rate because
if it is not clear then employee will not satisfied therefore it is important part of it.

JOB DESCRIPTION: Job description includes basic job-related data that is useful to advertise a specific job and attract a pool of talent. It includes information such as job title, job location, reporting to and of employees, job summary, nature and objectives of a job, tasks and duties to be performed, working conditions, machines, tools and equipments to be used by a prospective worker and hazards involved in it.
Purpose of Job Description

The main purpose of job description is to collect job-related data in order to advertise for a particular job. It helps in attracting, targeting, recruiting and selecting the right candidate for the right job. It is done to determine what needs to be delivered in a particular job. It clarifies what employees are supposed to do if selected for that particular job opening.

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It gives recruiting staff a clear view what kind of candidate is required by a particular department or division to perform a specific task or job. It also clarifies who will report to whom.

JOB SPECIFICATION: Also known as employee specifications, a job specification is a written statement of educational qualifications, specific qualities, level of experience, physical, emotional, technical and communication skills required to perform a job, responsibilities involved in a job and other unusual sensory demands. It also includes general health, mental health, intelligence, aptitude, memory, judgment, leadership skills, emotional ability, adaptability, flexibility, values and ethics, manners and creativity, etc.
Purpose of Job Specification

Described on the basis of job description, job specification helps candidates analyze whether are eligible to apply for a particular job vacancy or not. It helps recruiting team of an organization understand what level of qualifications, qualities and set of characteristics should be present in a candidate to make him or sheer eligible for the job opening. Job Specification gives detailed information about any job including job responsibilities, desired technical and physical skills, conversational ability and much more. It helps in selecting the most appropriate candidate for a particular job.

In Allahabad Big Bazaar JS & JD is very clear and specify therefore hare attrition rate is lowest. Its help in low attrition rate 2. T RAINING AND DEVELOPMENT: The process of teaching new employees the basic skills they need to perform their jobs.

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Training means a systematic process of changing knowledge, skill, behavior and motivation of employees to improve their performance on the job as per the goals and objectives of the organization. Training is about knowing where employees stand (no matter how good or bad the current situation looks) at present, and where they will be after some point of time. The need for Training and Development Before we say that technology is responsible for increased need of training inputs to employees, it is important to understand that there are other factors too that contribute to the latter. Training is also necessary for the individual development and progress of the employee, which motivates him to work for a certain organization apart from just money. We also require training update employees of the market trends, the change in the employment policies and other things. The following are the two biggest factors that contribute to the increased need to training and development in organizations 1. Change 2. Development In Big Bazaar there is different kind of training as per need of training, it depend upon employee job performance. The following training provided by Big Bazaar A. Prarambh: - as per name PRARAMBH means start it is provided by Big Bazaar at the time of opening new store at new place. B. Induction training: - induction training provided by Big bazaar for the new employee which is recruit recently, 10 days time period for this training where we provide: A Mentor Company PPT, floor walk etc.

And after that we go on new stapes which is Replacement Preamble: -it is provided by head office or zone office Big Bazaar which is Lucknow for 3 days, this training is only for band-1 employee.

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C. On job training: - On job training is the very critical part of training, Employee training at the place of work while he or she is doing the actual job. Usually a professional trainer (or sometimes an experienced employee) serves as the course instructor using hands-on training often supported by formal classroom training. See also off the job training. In Big Bazaar It is periodic monthly training

UNNATI STORE

PERIODIC MONTHLY TRAINING

LUCKNOW

SOP

BAND 1,2,3

This is happen at two place first is in store and second is Lucknow SOP: - Standard Operating Procedures (SOP) are a set process formulated by an
organization. Where provide all information about organization tell them how

organization runs and what is the job criteria. UNNATI: - this is a OJT in unnati we provide training for employee behavior and their functional way of work in behavior we tell them about how to talk customer how to behave and how to handle critical condition, at the time of on job for this we firstly go through TNI and after it we chose those people who need this training. This is store level training where we chose a particular date and employee and a trainer, trainer can department manager.
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Training and development play an important role in any organization its also help in decrease attrition rate. And in Big bazaar know these thing very well therefore here attrition rate is low.

3. Employee engagement and employee benefit: Employee engagement refers to a condition where the employees are fully engrossed in their work and are emotionally attached to their organization. Employee benefit The benefits package includes all financial rewards that are generally not paid directly to the employee. . These benefits are a significant part of employee "total compensation". Employee benefit provided by Big Bazaar which are EDC (Employee discount card):- Employee discount card provided by Big Bazaar. Discount is according to band wise. Uniform and shoes: Uniform and shoes is provided by Big Bazaar which is 3shirt and 2 trouser per year and 1pair shoes per year Employee happiness index: Employee happiness index is a very critical and important for the organization because if employee is unhappy than productivity will low and attrition is high in that organization therefore Big bazaar wants to know the employee happiness through quarterly base happiness meet where HR meet every employee and ask about their happiness and give a rating. Fun zone: - fun zone is the interior part of the organization where employee can sit and take rest in fun zone there can be TV, coffee Machine, and other way of entertainment.

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CSR: -corporate social responsibility power of one is the plane for the customer. Those people who want to work for society in this plane we take only Rs 1 from the customer with their happiness.

Performance management system: Performance management (PM) includes activities which ensure that goals are consistently being met in an effective and efficient manner. Performance management can focus on the performance of an organization, a department, employee, or even the processes to build a product of service, as well as many other areas. Performance management is the systematic process by which the Department of Commerce involves its employees, as individuals and members of a group, in improving organizational effectiveness in the accomplishment of agency mission and goals. In Big Bazaar generally PMS done through S/W which is SPARSH, we can do performance management very well through Sparsh it make easy to PMS and other function of HR. At the time of PMS firstly we make self rating HR rate employee and then forward that rate to HR head north zone for his rating, where HR head approve that rating and resend store HR, and store HR Accept them. At the time of KRA, KRA is also done through SPARSH where KRA is already upload from the head office of north zone. And employee logon sparsh and fill up the form and send. If PMS is going on right means there is low attrition rate and on the basis of performance give reward to the employee and if employee will happy than there is low attrition rate. Therefore good PMS is important for attrition rate.

Rewards and Recognition: -

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Fulfilling employees needs, recognizing their efforts and presenting them with monetary and non-monetary rewards help you create a right workforce for your organization that can be your partner in success. Reward is generally based on the performance and in Big Bazaar Reward give that people who are achieve their monthly target, for this we do monthly meeting and decide reward, reward can be as the coupon by which they can buy product from Big Bazaar by given coupon price. Reward is also help in low attrition rate because if reward is given by the organization to employee and employees are happy than attrition rate defiantly low.

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