DECLARATION

VIVEK KUMAR ROLL NO. 15-MBA-036, MBA 3RD SEM,

GANGA

INSTITUTE OF TECHNOLOGY AND MANAGEMENT KABLANA

JHAJJAR HARYANA hereby declare that the summer training report Entitle
MAHINDRA & MAHINDRA PVT. LTD. is an original work and the Same
has not been submitted to any other institute For the award of any other
degree.

VIVEK KUMAR

ACKNOWLEDEMENT
In pursuit of an MBA degree, summer internship is a critical component of the
entire package. MAHINDRA & MAHINDRA PVT. LTD.. has given me the
opportunity to gain invaluable experience under the guidance of PROF.
SOMVEER Their continuous support and cooperation along with their value able
in hand experience about the mutual fund provided me with the conceptual
understanding and practical approach needed to work efficiently for this project.
.

VIVEK
KUMAR
.

INDEX

Introduction
History
Product profile
Sales figures / Market share
Organizational chart
Research Methodology
Objectives of the study
Scope of the study
Types of the data
Data collection
Limitation of the study
Finding and Analysis
Bibliography

INTRODUCTION
INDIAN BANKING SECTOR
The Reserve Bank of India (RBI) is acts as a centralized governing body. Though public sector
banks currently dominate the banking industry, numerous private and foreign banks exist. India's
government-owned banks dominate the market. Their performance has been mixed, with a few
being consistently profitable. Several public sector banks are being restructured, and in some the
government either already has or will reduce its ownership.
PRIVATE AND FOREIGN BANKS
The RBI has granted operating approval to a few privately owned domestic banks; of these many
commenced banking business. Foreign banks operate more than 150 branches in India. The entry
of foreign banks is based on reciprocity, economic and political bilateral relations. An interdepartmental committee approves applications for entry and expansion.
CAPITAL ADEQUACY NORM
Foreign banks were required to achieve an 8 percent capital adequacy norm by March 1993,
while Indian banks with overseas branches had until March 1995 to meet that target. All other
banks had to do so by March 1996. The banking sector is to be used as a model for opening up of
India's insurance sector to private domestic and foreign participants, while keeping the national
insurance companies in operation.
BANKING
India has an extensive banking network, in both urban and rural areas. All large Indian banks are
nationalized, and all Indian financial institutions are in the public sector.

RBI BANKING
The Reserve Bank of India is the centralized governing body. It is the sole authority for issuing
bank notes and the supervisory body for banking operations in India. It supervises and
administers exchange control and banking regulations, and administers the government's
monetary policy. It is also responsible for granting licenses for new bank branches. 25 foreign
banks operate in India with full banking Licenses. Several licenses for private banks have been
approved. Despite fairly broad banking coverage nationwide, the financial system remains
inaccessible to the poorest people in India.
INDIAN BANKING SYSTEM
The banking system has three tiers. These are the scheduled commercial banks; the regional rural
banks, which operate in rural areas, not covered by the scheduled banks; and the cooperative and
special purpose rural banks.
SCHEDULED AND NON SCHEDULED BANKS
There are approximately 80 scheduled commercial banks, Indian and foreign; almost 200
regional rural banks; more than 350 central cooperative banks, 20 land development banks; and a
number of primary agricultural credit societies. In terms of business, the public sector banks,
namely the State Bank of India and the nationalized banks, dominate the banking sector.

REGULATIONS ON FOREIGN BANKS

Foreign banks in India are subject to the same regulations as scheduled banks. They are
permitted to accept deposits and provide credit in accordance with the banking laws and RBI
regulations. Currently about 25 foreign banks are licensed to operate in India. Foreign bank
branches in India finance trade through their global networks.

GOVERNMENT AND RBI REGULATIONS

All commercial banks face stiff restrictions on the use of both their assets and liabilities. Forty
percent of loans must be directed to "priority sectors" and the high liquidity ratio and cash
reserve requirements severely limit the availability of deposits for lending. The RBI requires that
domestic Indian banks make 40 percent of their loans at concessional rates to priority sectors'
selected by the government. These sectors consist largely of agriculture, exporters, and small
businesses. Since July 1993, foreign banks have been required to make 32 percent of their loans
to this priority sector. Within the target of 32 percent, two sub-targets for loans to the small- scale
sector (minimum of 10 percent) and exports (minimum of 12 percent) have been fixed.
Foreign banks, however, are not required to open branches in rural areas, or to make loans to the
agricultural sector. Commercial banks lent dols 8 billion in the Indian financial year (August)
1994, up sharply from dols 4.4 billion in the previous year.
STILL.
There are several other worries about the banking sector, mainly confusion over ownership and
control. Sometime soon India will be forced to apply the norms of developed countries and many
banks (including some of the biggest) will show very poor return ratios and dozens of banks will
be bankrupt. When that happens the two popular reasons to defend bad banks will disappear.
These are: one, to save face in the remote hope of that fortunes will `revive' and two, some banks
are too big to be allowed to fail, fearing social upheaval.

PROFILE OF AXIS BANK

AXIS BANK is the world's leading emerging markets bank. It employs 29,000 people in over
500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East,
Africa, United Kingdom and the Americas.
The AXIS Bank serves both Consumer and Wholesale banking customers. The Consumer Bank
provides saving a\c.s, credit cards, personal loans, mortgages, deposit taking activity and wealth
management services to individuals and medium sized businesses. The Wholesale Bank provides
services to multinational, regional and domestic corporate and institutional clients in trade
finance, cash management, custody, lending, foreign exchange, interest rate management and
debt capital markets.
With 150 years in the emerging markets the Bank has unmatched knowledge and understanding
of its customers in its markets.
AXIS BANK recognizes its responsibilities to its staff and to the communities in which it
operates.

HISTORY OF AXIS BANK

AXIS BANK is the world's leading emerging markets bank headquartered in Mumbai (India). Its
businesses however, have always been overwhelmingly international. This is summary of the
main events in the history of AXIS BANK and some of the organizations with which it merged.
UTI Bank opened its registered office in Ahmedabad and corporate office in Mumbai in
December 1993. The first branch was inaugurated on 2 April 1994 in Ahmedabad by
Dr. Manmohan Singh, the Finance Minister of India. UTI Bank began its operations in 1993,
after the Government of India allowed new private banks to be established. The Bank was
promoted in 1993 jointly by the Administrator of the Unit Trust of India (UTI-I), Life Insurance
Corporation of India (LIC), General Insurance Corporation, National Insurance Company, The
New India Assurance Company, The Oriental Insurance Corporation and United India Insurance
Company. In 2001 UTI Bank agreed to merge with and amalgamate Global Trust Bank, but
the Reserve Bank of India (RBI) withheld approval and nothing came of this. In 2004 the RBI
put Global Trust into moratorium and supervised its merger into Oriental Bank of Commerce.
UTI Bank opened its first overseas branch in 2006 Singapore. That same year it opened a
representative office in Shanghai, China. UTI Bank opened a branch in the Dubai International
Financial Centre in 2007. That same year it began branch operations in Hong Kong. The next
year it opened a representative office in Dubai. Axis Bank opened a branch in Colombo in
October 2011, as a Licensed Commercial Bank supervised by the Central Bank of Sri Lanka.
Also in 2011, Axis Bank opened a representative offices in Abu Dhabi.
In 2013, Axis Bank's subsidiary, Axis Bank UK commenced banking operations. Axis Bank UK
has a branch in London.
As on 31 March 2013, Axis Bank had 37,901 employees(Axis Bank Recruitment), out of which
7,117 employees were women (19%). The bank incurred INR 26.7 billion on employee benefits
during the FY 2012-13.The average age of an Axis Bank employee is 29 years.The attrition rate
in Axis Bank is approx. 9% per year.

Initiatives
The Business Gaurav SME Awards: In 2011 centres and SME cells each across the
country, taking the total number to 32 SME Centres. The Bank also organised the
'Business Gaurav SME Awards' in association with Dun & Bradstreet to recognise and
award achievements in the SME space.[15]
Financial inclusion: Till March 2012, the Bank had opened over 4.4 million No
Frills accounts in over 7607 villages through a network of 15 Business Correspondents
and nearly 6000 customer service points. Axis Bank has a strong presence in Electronic
Benefit Transfer (EBT) and has covered 6800 villages across 19 districts and 9 states till
date with over 3.7 million beneficiaries.
Industry First Initiatives:

Axis Bank launched Mobile Banking App 2.0 for its retail resident Indian
customers the first of its kind in India, which offers a high level of personalisation .
The App has been launched in partnership with Tagit, a leading Singapore
mobile solutions company.

The

new

application

uses

Tagit's

mobility solution platform that enables Banking on-the-go.[16][17]

'Axis Bank - ISIC Forex Card' for students, is the first photo Travel Currency Card
available in USD, Euro, GBP and AUD currencies. It can be used across 34 million
merchant locations and at over 2 million MasterCard ATMs globally.[18]

Axis Bank has partnered with Visa to launch 'eKYC' (electronic Know your
customer) facility, first organisation in India to introduce Biometrics based KYC,
offering convenience, speed and ease to Aadhaar-registered individuals to open
bank accounts.

PRODUCT PROFILE OF
AXIS BANK
Through the network of over 500 offices in more than 50 countries, AXIS BANK offers personal
financial solutions relevant to you as an individual. AXIS BANK treasure building a relationship
with the customer, developing an understanding of customers changing financial needs at
different stages of your life. Their long heritage of nearly 150 years has enabled them to change
with time, offering quality products by means that are convenient to customer.
AXIS BANK offer includes:

Personal Finance

Personal Investments

Credit Cards

Insurance

Priority Banking

Deposits and Retail Services

Investment Advisory Services

Retail FX Products

1. PERSONAL FINANCE
Mortgages
In many of the markets where AXIS BANK operate, especially in key markets of Hong Kong,
Singapore, Malaysia, they are reported to be the market leader for mortgages. Their experienced
and dedicated teams will guide the individual in every single step to enable him a smooth and
hassle-free experience, offering him rates and repayment packages most suitable. Start by trying
our "instant approval" service.

Unique Features:

Low interest rates, option of flat or reducing interest rates

Low EMI (equated monthly installments)
No hidden costs like processing charge. Everything is done up front.
Quick approval and realization.
Tax benefits.
No unfair collateral demands.
A simple mortgage process.

Personal Loans

AXIS BANK helps the customer to be in control of his/her own finances. Personal Loans,
without any guarantees or collaterals, are available to customer to meet specific credit needs.
Choose Installment Loan or Revolving Loan, whatever suits best. Whether planning a vacation,
re-decorating home, paying for child's college education, or simply wish to have a standby line
of credit for unforeseen expenses, AXIS BANK's Personal Loans can help fulfill the dreams.
Personal loan is specially designed to get the money need in time, without having to answer
unnecessary questions, and without any collateral or mortgages.

Unique Features:

Choose the repayment plan most convenient, ranging from a compact 12-month period to
a comfortable 36-month span.
Free to use the money for renovating house or meeting some unexpected expenses etc.
No collateral or security.
Quick and easy processing.

2. CREDIT CARDS
AXIS BANK Visa and MasterCard credit cards

AXIS BANK credit cards provide financial flexibility, worldwide acceptance, and round-theclock convenience.
Benefits:
Welcomed at the largest number of merchant outlets across the world.
Revolving credit facility, allowing repaying card outstanding over time, at a
convenience.
Cash withdrawal in local currency at Visa and MasterCard linked ATMs across
the world.
Platinum, Gold or Classic cards to suit lifestyle and needs.
Smart credit cards with special privileges and security.
Attractive rewards programs.

 Affinity and co branded credit cards that give additional benefits from our
partners.
World-class service assistance and 24-hour customer help line.

3.

PRIORITY BANKING

Experience new standards in banking. And lead a life of privilege and preferred financial
solutions tailored perfectly for you - with Priority Banking from AXIS BANK.
Designed specially for those who appreciate only the finest things in life, Priority Banking offers
the very highest levels of personalized banking to match unique status.
By embracing a holistic approach to financial well being and commitment to personal Wealth
Management with a full range of innovative products and services, a customer will find banking
with a reassuring and secure experience.
Bank is committed to helping a plan, build and protect wealth by offering individual attention as
well as international banking and investment opportunities to meet current and future needs.
AXIS BANK Priority Banking is created specifically for a chosen few individuals, who will
settle for nothing but the best and demand the highest standards of service in all your banking
relationships.

Operations
Indian Business: As of 12 Aug 2016, the bank had a network of 3,120 branches and extension
counters and 12,922 ATMs.[5] Axis Bank has the largest ATM network among private banks in
India[6][7] and it operates an ATM at one of the worlds highest sites at Thegu, Sikkim at a height
of 4,023 meters (13,200 ft) above sea level.[8]
International Business: The Bank has eight international offices with branches at
Singapore, Hong Kong, Dubai (at the DIFC), Shanghai, Colombo[9] and representative offices at
Dubai and Abu Dhabi, which focus on corporate lending, trade finance, syndication, investment
banking and liability businesses. In addition to the above, the Bank has a presence in UK with its
wholly owned subsidiary Axis Bank UK Limited. [5][10] The total assets of the overseas branches
were US$7.86 billion.

Services
As of 2014, Axis Bank operates in four segments: treasury operations, retail banking, corporate
banking, and wholesale banking.
Treasury operations
The Banks treasury operation services include investments in sovereign and corporate debt,
equity and mutual funds, trading operations, derivative trading and foreign exchange operations
on the account, and for customers and central funding. ads efv
Retail banking
In the retail banking category, the bank offers services such as lending to individuals/small
businesses subject to the orientation, product and granularity criterion, along with liability
products, card services, Internet banking, automated teller machines (ATM) services, depository,
financial advisory services, and Non-resident Indian (NRI) services.[12] Axis bank is a participant
in RBI's NEFT enabled participating banks list.

Corporate/wholesale banking
The Bank offers to corporate and other organisations services including corporate relationship
not included under retail banking, corporate advisory services, placements and syndication,
management of public issues, project appraisals, capital market related services and cash
management services.
NRI SERVICES
Products and services for NRIs that facilitate investments in India.
BUSINESS BANKING
The Bank collects income and other direct taxes through its 214 authorised branches at 137
locations and central excise and service taxes (including e-Payments) through 56 authorised
branches at 14 locations.
Investment banking
Banks Investment

Banking business

comprises

activities

related

to Equity

Capital

Markets, Mergers and Acquisitions and Private Equity Advisory. The bank is a SEBI-registered
Category I Merchant Banker and has been active in advising Indian companies in raising equity
through IPOs, QIPs, and Rights issues etc. During the financial year ended 31 March 2012, Axis
Bank undertook 9 transactions including 5 IPOs and 2 Open Offers. [12]
Lending to small and medium enterprises
Axis Bank SME business is segmented in three groups: Small Enterprises, Medium Enterprises
and Supply Chain Finance. Under the Small Business Group a subgroup for financing micro
enterprises is also set up. Axis bank is the first Indian Bank having TCDC cards in 11 currencies.
[citation needed]

Agriculture banking
759 branches of the Bank provide banking services, including agricultural loans, to farmers.
[12]

As on 31 March 2013, the Banks outstanding loans in the agricultural sector was INR 148

billion, constituting 7.5% of its total advances.[12]

Advisory Services have been developed to advise public and private sector clients on capital
structuring and funding options with a view to help the clients to help them reduce the cost of
funds. The Group has also been active in advising the central and various state governments or
their agencies in privatisation and bid process management. The Group has successfully worked
on some of the benchmark transactions in infrastructure development & manufacturing sector
covering an entire range of projects across roads , railways, airports, urban infrastructure
maritime, power, oil and gas, petrochemicals, cement, sugar, textiles, steel & allied sectors,
auto ancillaries, paper, Information Technology (IT), etc.

INSURANCE
AXIS BANK recognizes the things important to customer and his family. They are dedicated to
protecting the customer, his family, and his hard earned assets and even his future earnings
giving him the assurance he needs.
Their strategic alliance with Prudential and CGU Insurance puts us in a very strong position to
provide for Life and General Insurance needs. With a comprehensive range of products, AXIS
BANK is set to protect the World.
DEPOSITS AND RETAIL SEVICES
Deposits
AXIS BANK offers a wide array of deposit products in both local and foreign currencies to help
to earn competitive interest rates. Their international network offers an extra convenience while
abroad. In some countries, they offer premium interest savings plans like Higher Education Fund
to turn the dreams into reality.
Retail Services
AXIS BANK offers a comprehensive range of retail services in many countries. These include:
Automated banking services.
Demand drafts.
Foreign exchange services.
Local and foreign currency cheque.
Safe deposit boxes.
Telegraphic transfers.
Travelers cheque.

7.

RETAIL FX PRODUCTS

AXIS BANK is now offering valuable customers an easy and flexible way to invest in foreign
currencies. They provide high flexibility to enable sophisticated investors to capitalize on
opportunities in the currency markets.
Some of the Retail FX products include:
FX Margin Trading.
Currency Trading.
Premium Currency Deposit.
Principle Protected Currency Deposit.

ADDITIONAL SERVICES

1. INTERNET BANKING
Youre banking needs now taken care of at the click of a mouse. With Secure Internet Banking
ID and Password, a customer can login and take care of his/her banking and credit card needs at
his/her convenience and time. No more queues, no more waiting.

2.

PHONE BANKING

As part of commitment to meeting all needs, AXIS BANK offer Phone Banking - a service that
enables you to access a wealth of financial information, 24 hours a day, 7 days a week.
Through Phone Banking:
Check your account balance.
Get details about specific transactions.
Inquire about the status of a particular cheque.
Order demand drafts.
Transfer funds amongst your linked accounts.
Get information on deposit rates, lending rates, exchange rates and bank charges.
Access information on any of our products and services.
Call Room Service to open your account.
Make complaints and suggestions.

3. MOBILE AND E-MAIL ALERTS

AXIS BANK always try and make life simple. Mobile and E-mail Alerts' service is designed
just for that.

4.

ATM

AXIS BANK ATMs give the freedom to conduct most of the banking transactions 24 hours a
day, 365 days a year. The ATM card is and absolutely free. There are no transaction charges.
What's more, use ATM card at any of the 70 ATM centers across the country.

5.

CREDIT CARD HELP-LINE

As part of commitment to meeting all needs, AXIS BANK offer the facility of calling them over
the phone to access a wealth of information on credit cards, 24 hours a day, 7 days a week.
6.

ELECTRONIC CLEARING SYSTEM

AXIS BANK introduces ECS (Electronic Clearing System), an innovative facility for busy
people. With this facility, Card bill amount automatically gets debited from your savings bank
account, so that customer doesnt have to worry about the last minute payment rush. Since this
entire process happens through the Reserve Bank of
India's electronic clearing mechanism, customer can enjoy the advantages of ECS.
8.

MAINTANING ACCOUNTS WITH AXIS BANK

DEPOSITS

Demand deposits

Saving account

Individual

Time deposits

Current account

Twin-one account

Fixed deposits

Parivaar account

Saving account

DEMAND DEPOSITS
1.

SAVING ACCOUNT

AXIS BANK introduces aXcessPlus - a revolutionary savings account that provides with
unparalleled axcess to money. An account primarily opened for and operated by individuals,
wherein the numbers of transactions are few and which give the customer liquidity, with the
facility to earn some interest on the residual balances.

With the aXcessPlus account the customer can now aXcess cash at over 1800 ATMs in India to
free and at over 650,000 ATMs worldwide through the Visa network. Besides, he can use his

account to shop for goods and services at over 25,000 outlets in India and at 10 million outlets
worldwide, without ever having to carry cash!
The aXcessPlus account provides with a globally valid debit card that provides these and a host
of other exciting benefits.
Unique Features:
There are several unique features about the AXIS BANK's aXcessPlus account, each designed to
provide the most convenient banking experience can ever get!
Free aXcess to cash at over 1800 ATMs in 35 cities in India
Globally valid debit card
The debit can be used to make purchases at over 25,000 merchant outlets in India and at
over 10 million outlets worldwide.
Phone banking, Internet banking, Multi-city banking, 365 days branches, extended
banking hours, lockers facility and doorstep banking.
Unique free insurance benefits - lost card insurance, purchase protection and personal
accident cover.
Exciting usage benefits such as Travel Cash Back - discounts on airfare, Rasoi - ongoing
privileges in restaurants, Fab Deals - special privileges for shopping at select merchant
outlets, discounts at all BPCL IN & Out stores and special rates on BPL electronic items
plus a host of other discounts vouchers.

2-IN-1 ACCOUNT

The best of both worlds:

A unique account that offers you double advantage, letting you earn the High interest rate of
a fixed deposit while you enjoy the flexibility of a savings & current account.
2.

CURRENT ACCOUNT

An account opened and operated primarily by corporate for commercial use, wherein the
numbers of transactions are much higher than a normal savings account. No interest is paid on
these accounts.

Unique Features:
High Liquidity
Unlimited transactions
Zero Interest
Any branch banking
TERMS DEPOSITS
A term deposit is a deposit held for a contracted period of time and a contracted rate of interest.
The Rate of interest for term deposits is higher than that applicable for a normal savings account
and Penal rates of interest is applicable if the deposit is withdrawn before the contracted period.

SALES FIGURES
Net Revenue (US $ Millions)
H1
H2
Full Year
2004(IFRS)
$2,725
$2,657
$5,382
2004
$2,722
$2,645
$5,367
2003
$2,340
$2,400
$4,740
2002
$2,285
$2,254
$4,539
2001
$2,164
$2,241
$4,405
2000
$1,968
$2,093
$4,061
1999
$1,908
$1,940
$3,848
1998
$1,988
$1,937
$3,925

AXIS BANK DEPARTMENTS

DIFFERENT DEPARTMENTS

Middle market
Global Banking
Mutual Funds
Payments
Cash Management
ITSM
Customer service
Trade Service
Home Loan
Personnel Loan
HR
Corporate Sales
Locker
Credit cards

OBJECTIVE OF THE SURVEY

The following survey was mainly done with an objective to analyze employees
psychology in respect to AXIS BANK and opportunities they have in outer market.

SUB-OBJECTIVE OF THE SURVEY

Reasons to find why AXIS BANK employees turnover is so high.

To recommend possible suggestions in order to have a control on attrition.

SCOPE OF THE PROJECT

The following study was done to find high attrition rate in AXIS BANK (NEW
DELHI). The study helps us to know the state of mind of employees in AXIS BANK that
why they think for leaving the job and what can be done to reduce the increasing attrition
rate.

ATTRITION
Attrition refers to a method of achieving a reduction in personnel by not refilling positions that
are vacated through resignation, reassignment, transfer, retirement or means other than layoffs.
Attrition is transactional referring to its dependency on both environmental & personal variables.
PRIMARY REASONS FOR EMPLOYEE TURNOVER

Benefits

Lack of proper peer support

Lower support

Lower salary package

Less promotional opportunities

Work environment

Less job opportunities

Compensations & advancement associated with job

Increased strain placed on employees

Do not feel valued

Organization culture

Emotional exhaustion

Increased sense of depersonalization

SEVEN FUNDAMENTAL REASONS FOR EMPLOYEE DISENGAGEMENT

There are seven hidden reasons:-

SOME OTHER REASONS FOR EMPLOYEE TURNOVER

There are two main reasons for employee turnover:1. Quality of selection system
2. Quality of leadership
SELECTION SYSTEM QUALITY
No single selection system is right for all organizations. Before making changes, Organizations
must determine there current levels of sophistication and use of best Practices. There are 5
practices associated with selection systems:
BEHAVIOURAL BASED INTERVIEWS
Asking candidates to provide specific examples of past behaviors that illustrate their ability to
demonstrate required job knowledge, skills & abilities.

TRAINING & EXPERIENCE EVALUATION

Providing a checklist or other tool that measures candidates experience in specific skills or
situations.
ABILITY TESTS
Testing candidates mental, clerical, mechanical, physical or technical capabilities.

BIOGRAPHICAL DATA
Requesting information about candidates life experiences (e.g. families, hobbies, attitudes) that
correlate with job performance.

 MOTIVATIONAL FIT INVENTORIES

Measuring candidates preferences for job, the organization, and location qualities.
LEADERSHIP QUALITY
Two factors driving retention are:1.

Quality of relationship a person has with his supervisor or manager

2.

Amount of meaningful work

There are many things that an organization can do to improve these factors.
Some solutions directly improve leadership skills, while others improve systems
& the work environment.

TYPES OF DATA
The Research was conducted in two stages:
QUALITATIVE
QUANTITATIVE

QUALITATIVE RESEARCH:
Here an effort was made:
To understand the product & the information which helped to frame the questionnaire.
QUANTITATIVE RESEARCH:
A questionnaire was prepared for this purpose, keeping in mind the important factors which
would enable to meet the objectives of the project. Database of employees was prepared with the
help of which those employees were approached who had left the job & from them the required
information was gathered.
The Research details were summarized as follows:
Type of research

: DESCRIPTIVE RESEARCH

Sample size

: 50

Sampling technique :
Source of Data

QUOTA SAMPLING

Primary Data

: QUESTIONNAIRE

Secondary Data

: INTERNET, NEWSPAPERS

PRIMARY DATA:
Primary

data

is

that

kind

of

data

which

is

collected

himself for purpose of specific study. The data such collected is original

by

investigator

in character. The

advantage of this method of collection is authentic. A set of questions were put together in the
form of questionnaire.
SECONDARY DATA:
When an investigator uses the data it has been already collected by others. The secondary data
could be collected from Newspapers, Journals, Reports & various publications. The advantages
of secondary data can be in terms of money & time spent. The researcher of the report also did
the same and collected secondary data from various internet sites like GOOGLE.COM,
YAHOO. COM. The researcher of the report also visited various libraries for collection of the
introduction part.

DATA COLLECTION
Data is collected from various internet sites like GOOGLE.COM, YAHOO.COM.
Data is collected with help of various employees in the organization.
Sample size taken for the survey is 50.

LIMITATIONS

Unreliable response from the organization at times due to lack of time.

Unavailability of concerned person at the time of survey.
Time and other factors which are beyond the human limitations, have also a bearing on
the study.

ANALYSIS OR FINDINGS
I have conducted a survey to know what are the reasons of increasing attrition rate in AXIS
BANK. The survey process involved two phases:
The response that is generated during this exercise is converted in the form of percentages to
have a comparative outlook, as the numbers itself cannot explain the true picture. These
percentages are then represented through the simple tools like bar graphs, pie charts, etc. (see
appendix).

APPENDIX
PRIMARY REASON FOR LEAVING THE ORGANIZATION

Primary Reason For Leaving

Benefits
Better job opportunity
Commute
Conflict with other employees
Conflict with manager
Family reasons
Job expectations
Not challenging
Pay
personal reasons
Relocation/move
Working condition

No. Of
Employees
5
7
0
0
1
2
10
5
15
0
0
5

PIE CHART REPRESENTATION

INTERPRETATION
This shows that pay is the primary reason for employee turnover.

DURATION FROM WHICH EMPLOYEE IS THINKING OF LEAVING

GRAPHICAL

Time duration
One Month Or Less
One To 5 Months
More Than 5 Months

No. of employees
13
20
17

REPRESENTATION

INTERPRETATION
This shows that most of employees are thinking of leaving the organization from 1 to 5
months.

SATISFACTION OF EMPLOYEES TOWARDS COMPANY

Satisfaction level
Extremely Dissatisfied
Very Dissatisfied
Neither Satisfied Nor Dissatisfied
Very Satisfied
Extremely Satisfied

No. of employees
10
10
23
5
2

PIE CHART REPRESENTATION

INTERPRETATION
This shows that employees are neither satisfied nor dissatisfied with the company.

WORKING EXPERIENCE OF EMPLOYEES

Working Conditions
Much more positive than negative
More positive than negative
More negative than positive
Much more negative than positive

No. Of
Employees
4
25
15
6

GRAPHICAL REPRESENTATION

INTERPRETATION
This shows that working condition of employees is much more positive than negative.

SUGGESTIONS & RECOMMENDATIONS

REDUCING TURNOVER
Turnover rate measures the percentage of employees that leave the organization in a given time
period. Turnover can include resignations, terminations, retirements, transfers, and promotions.
Agent turnover rate is also referred to as attrition, retention rate or agent churn.
Turnover should be tracked in order to:

Control costs

Raise employee morale

Cost Impacts of Turnover

Turnover increases costs in a variety of ways including:

recruiting and hiring

temporary staffing

lower productivity of new agents

overtime costs for current staff while the job is vacant

unemployment insurance premiums

Supervisors confront a major challenge with turnover and cost control. This challenge includes
balancing the cost of new hires.

Employee morale
Finally, turnover is a good indicator of employee morale. Although employee morale is difficult
to quantify, it has consequences productivity, and overall performance.
Areas to consider for reducing turnover rate
.

Factors that can impact turnover are as follows:

1. Recruitment, screening, and orientation programs

Recruiting techniques that simply bring in 'warm bodies' will raise turnover, while
targeted recruiting will result in higher retention levels. Screening processes should
identify people that are a good match for the job requirements. Finally, company
orientations that provide a positive introduction to the company and an understanding of
company values establish a good relationship with employees.
2. Training and support of new graduates
Poor training programs raise turnover when agents don't have the tools to do their job
Well.
3. Quality of direct supervision

Good supervision ensures improve their skills, as well as support with challenging job
Tasks. If management is biased, uncommunicative, turnover will increase.

4. Competitiveness of pay scale

Wages should be competitive with other job opportunities will be lost to better-paying
jobs.
5. Other employment opportunities in the area
Other job opportunities with better advancement opportunities, challenges, and skill
development may cause turnover.
6. Level of job satisfaction and rewards
Sales regularly deal with a stressful job. Burnout levels are high and can be aggravated if
there are few instances of job recognition and reward for excellent performance. Agents
also can be unsatisfied with their job when they do not have the tools and work processes
to do a good job for their customers.
7. Attractive advancement opportunities within the company
Advancement motivate employees to stay with a company.
8. Unplanned change
Poorly-managed change can lead to attrition.
When should turnover be addressed?
So how do you know when turnover is severe enough to warrant special focus? In addition to
employee morale/productivity, there are some other factors to consider. The loss of highly skilled
employees is one consideration. The attrition of first-rate employees can be an irreplaceable loss
for companies. In addition, constant turnover and recruiting can create a negative impression
about the company.

Finally, turnover warrants extra focus if a clear pattern begins to appear. For example, if there
has been 50% turnover in the past year due to resignations, chances are that some fundamental
problems exist at the company and need to be addressed. If employees are always leaving
because of negative circumstances, this is a red flag that significant problems exist within the
organization and that management practices, training, and HR policies need to be revisited.
How can turnover be reduced?
High turnover is a major problem to identify causes of attrition.
Know why turnover is happening. It is important to know the exact reasons why agents leave in
order to:

identify 'controllable' reasons why agents leave (to focus attention on reducing the causes
of these departures)

accurately plan ahead for recruiting, hiring, and training replacements at the same pace as
you expect agents to leave

Some reasons for agent turnover are beyond the control of management. These departures will
occur regardless of how attractive management makes it for agents to stay.
'Non-controllable' turnover includes:

retirements

promotions

transfers to other departments within the company illness

'Controllable' turnover includes resignations due to:

job stress

low pay

lack of advancement possibilities

lack of support and reward on the job

Action steps you can take

1. Evaluate the 8 areas identified in the section "Areas to consider for reducing turnover
rate" to determine where the greatest contribution to agent turnover may be taking place.
2. Conduct exit interviews to identify why they are leaving.
3. Conduct focus groups with managers, supervisors and employees to brainstorm the root
cause of employee turnover.
4. Use the results of the data from steps 1 through 3 to prioritize the root causes for
employee turnover. Develop action plans to address these root causes.
5. Implement these action plans and measure the results.

ATTRITION AREA

SOLUTIONS

The job was not clearly explained

to them

A realistic job preview (RJP)

tool has been proven to establish honest
Expectations about the job. RJP can reduce
Attrition between 5-15%.

Poor prior work history that leads to

Poor future work

A biographical data
assessment review previous work history to
Help eliminate those candidates with poor
prior work history.

Do not have right cognitive ability

for job

A mental alertness test can

measure the job candidates ability to think &
solve problems.

Cannot manage the interpersonal

requirements for job

A behavioural phone
interview,simulation, role play,or in-person
interview should help you evaluate the job
candidate against this criteria.

New hire job preferences do not match

required job preferences

A job related personality

assessment can measure job fit & job
preferences.

What are the best ways to combat turnover? Our model of turnover would suggest there
are seven major areas of intervention.
They are:

Early Interventions

Skill Interventions

Leadership Interventions

Communication Interventions

Reward/recognition Interventions

Job Enrichment Interventions

Selection Interventions

I want to touch on each area briefly and offer some practical advice and describe some tried and
proven strategies.
1. Early interventions
The fact that large numbers of employees turnover in the first six months of employment
suggests that this is a critical time for helping people adjust to new roles. Managing employees
expectations should actually start before employment. As we describe in our earlier article,
realistic job previews can help ensure that employees walk into their jobs with their eyes wide
open. Orientation programs should not be a one-day event; they should span the first three
months of employment. A good orientation program helps prevent misunderstandings, and
gradually introduces the employee into the organization. By providing just-in-time information
and training, rather than a one-day "core dump" of information, your training efforts will yield
much better results.
After detailing the organizational chart, take time to clearly explain the importance of the
employees job. Most importantly, establish a support system for the new employee. A good
practice is to set up a "buddy" system for new employees. A "buddy" is a seasoned employee

who volunteers to "look out for the new employee", making introductions, providing advice, and
helping avoid early pitfalls.
3.

Skill interventions

Keep employees motivated and committed by enthusiastically offering both training and
development opportunities. Smart companies know the importance of personal development in
employee retention. In fact, the top-rated companies to work for have several qualities in
common. They spend considerable time in training their people, they have low turnover rates,
and

they

have

impressive

4.

Leadership interventions

numbers

of

applicants

per

job

opening.

Better Bosses mean lower turnover. Establishing performance expectations, providing coaching
and positive feedback, and interacting in a fair and considerate manner are all things that good
leaders do to help new employees be successful and receive enjoyment from their jobs. To
impact turnover, make sure that supervisory promotion and training programs have interpersonal
skills as part of their focus. Measure employee perceptions of leadership behaviors and
incorporate behavioral expectations into leaders performance management expectations.

5. Communication interventions
A good case study of how focusing on communications can help improve employee retention is
New York Citys Tavern on the Green. In a recent article (source: Ragan Communications), the
training director for the restaurant offered numerous suggestions for opening up
communications, including:

Hold open forums. Set up monthly or at least quarterly forums in which

employees can talk with decision-makers on issues important to them.

Improve Credibility. Do what you say you are going to do or offer a

good reason why you can't.

Find ways to communicate. Eliminate fear of reprisal. Share important information.

Treat employees as partners. Communicate numbers, [both] good and bad. Dont hoard
data on successes that might make workers feel a sense of accomplishment or on
problems that might encourage them to go the extra mile.

6. Rewards/recognition interventions
Money can talk volumes, but the creative use of money is key to retention. Various kinds of
contingent bonus strategies can be used to help with retention. Deferred bonuses are paid out
incrementally with a significant back-end payoff for a combination of performance and retention.
This type of bonus system can help guarantee service for a finite number of years but doesnt
address long term retention.
Performance bonuses can help an employee reach high levels of income providing they can
consistently demonstrate superior levels of performance. This type of bonus can be very effective
if performance metrics are readily available and additional costs are consistent with the value of
superior performance.
A third option besides the use of bonuses is to regularly make salary adjustments for your star
performers or individuals with key skill sets so that they are not tempted to go elsewhere for
bigger paychecks. Obviously, this strategy can only be used for a small percentage of key
players. If you cant afford to pay more, or to offer contingent pay, dont forget the value of nonmonetary or symbolic rewards like time-off, awards, and other recognition programs.

6. Job enrichment
Increasing the job satisfaction of high turnover jobs can reduce turnover. For individuals who
have a need for growth, the following job design strategies are associated with increased job
satisfaction:

Increase the variety of tasks performed

Provide greater ownership and decision-making on how the job is performed

and hold the job holder accountable for quality of outputs

Add more significant responsibilities

Improve the accuracy and quality of feedback on performance

6. Selection
Improved selection may be the most powerful weapon against turnover..
Improving interviewing procedures reduced turnover rates on average a whopping 42%.
Selection is a preventive technique for reducing turnover. By improving the initial fit between an
individual and a job, you can have a huge impact on turnover.

REDUCING TURNOVER:
THE EFFECTS OF COMMONLY-USED METHODS
Senior Level
Better compensation &
benefits
Stock options

67%
52%

Middle Managers
Better compensation & 61%
benefits
More careful selection
54%
in hiring
Tuition reimbursement 41%

More careful selection

in hiring
Profit-sharing

47%
27%

Stock options

32%

Retention bonus

26%

Adoption of casual
dress code

31%

Front Line Employees

More careful selection
57%
in hiring
Better compensation & 50%
benefits
Tuition reimbursement
47%
Improved training
programs
Better orientation
programs

45%
39%

Using the Wheel to Improve Employee Retention

KEi's Employee Retention Strategy is based upon two primary beliefs:
(1) It is difficult for employers to retain good employees if they don't have a process to hire the
right people in the first place.
(2) Retention processes must directly support the reasons that successful, satisfied employees
stay. KEi's concentration on the center of the Employee Retention Wheel provides
employers with Internet-based tools that give employees systematic, ongoing support to be
successful in their work and satisfied with their employment.

The Center Of Employee Retention Wheel

These eight central processes of the Employee Retention Wheel are the factors that are most
critical to an employee's job performance success.
ATTITUDE FOR EMPLOYING
A process to clearly define the way supervisors are expected to interact with
employees; a process to give employees a way to express what is most important to achieve job
success; and a process to give employers a way to demonstrate "Employing Values" through
employment policies.
FINDING CANDIDATES
A process that gives employers a comprehensive way to communicate to job seekers what it
takes to achieve short-term and long-term job success, and to attract the candidates who fit this
criteria.

SORTING APPLICANTS
A process that gives employers a way to confirm whether the attitudes and behaviors of job
seekers are a match for their work environment.
CHOOSING EMPLOYEES
A process that gives employers a way to define the specific interview questions that prove job
seeker abilities to successfully perform the target skills; and a process that gives employers a way
to verify the accuracy of resume/application data and interview responses.
STARTING EMPLOYEES
A process that provides a way for new employees (before performing the job) to understand
"why the employers business exists;" "what makes the business organization successful;" "why
the employee's job exists;" and "what it will take for the employee to achieve job success."
INFORMING EMPLOYEES
A process that gives employers a way to provide essential information (from five critical
information sources) that is needed by employees to make daily work decisions.
IMPROVING EMPLOYEES
A process that gives supervisors and employees a way to work together to build personalized
plans for improving each employee's priority job skills; and a process that gives the employer a
way to "deliver skills-improving training curriculum" and to "measure the learning effectiveness"
from the training experiences.

REWARDING EMPLOYEES
A process that gives employers a way to define and communicate exactly how individual
employee salaries are determined; and a process that gives employers a way to provide
employees with extra incentive income that is earned through the achievement of cash generating
business goals.

BIBLIOGRAPHY

Search engines
www.google.com
www.yahoo.com
www.rediff.com
Websites
www.axisbank.com
www.surveyz.com