1. The research paper submitted by Abi Ealias examined the relationship between EQ(Emotional Intelligence) and Job Satisfaction. A sample group of 208 people from different locations was used for the purpose of primary data. A descriptive study took place wherein the data was gathered to answer certain queries. Based on the aim of the study, certain hypothesis were developed. An EQ tool was also developed on the basis of certain competencies that distinguish various individuals with EQ. Based on the study, some suggestions and conclusions were drawn. It concluded that there exists a positive relationship between job satisfaction and life satisfaction. Also, there doesn’t exist a clear relation between EQ and productivity. Hence, it’s not necessary that a worker with high EQ is a productive worker.
2. The research paper by Dr. Chandrakant Verma aimed to study the effect of HR policies in the motivation of employees and also, the other factors that contribute towards job satisfaction of the employees. The study used both primary and secondary data. It stresses on the importance of various factors that help in driving the employees towards the organizational goals.The research paper is intends to highlight the importance, challenges and different ways of motivation used in the organizations, hence more conceptual in nature. The data is collected more from the available literature and further from the employees of a organization so as to understand the factors which motivate the employees. This is a descriptive research and the secondary sources of data have been the imperative component of the research data collection possibility, which are journals, articles published research papers, quotes etc. These current practices were extracted in the form of factors of motivation and used in the questionnaire so as to position the employee. It was concluded that the topic of employee motivation is not properly understood and poorly practiced by many organizations; as a result there is increase in employees leaving the organization in search of better places to work. Also, organizations also faces a big challenge of retention as well as attraction of new talent, and motivational strategies could be one important contributors to organizational success in long-term.
3. Jahanzeb Shah undertook this study to examine the Organizational culture and HR policies emphasizing on the magnitude of satisfaction and motivation of employees. The aim of this study was to find out the various variables that would have an impact on a person’s devotion to his job. The problem statement was based on whether it’s only the compensation package which has the worth of retention and employee satisfaction or it’s the overall organizational culture which has a pivotal role in retention and making employee satisfied. In order to testify problem statement, the R & D organization- Integrated Services was taken as sample size. The survey asked the employees whether they were satisfied with the organizational climate and their job. The study reveals that the work culture must be improvised since pay and monetary benefits do not always play a major role in reducing employee turnover.
4. TriNet Survey Highlights Increasing Importance of Non-Traditional Benefits as Unemployment Rates Remain Low
The article revealed that 91% of the employees felt the need of non-monetary benefits more than the monetary ones. The study was conducted to find out whether monetary benefits are looked upon by the employees as an incentive for boosting their morale or not. This survey was conducted on a sample size of 3000 respondents. In cases where unemployment is low and job opportunities more, it’s crucial for the company to re-evaluate their policies to retain employees. Other findings of the study included that workers want flexibility of work hours, work life balance, pets in the workplace etc.
5. Why employee satisfaction should be a top priority?
An employer’s top priority list should contain his employees satisfaction on number one since employee satisfaction is directly linked to employee productivity and organizational success. It further results in high creativity, teamwork and lower employee turnovers. Also employee satisfaction is also highlighted by the type of relations they have with their colleagues. In order to indicate employees that they are the top priority of the organization, the employers should understand what helps in driving their employees for performing well and should be cautious enough to pick employees performing well and appreciate their efforts. Also they can ensure providing a safe and healthy workplace for the individuals to grow.
RESEARCH METHODOLOGY AND DESIGN
2.1 RESEARCH OBJECTIVE
To analyse the factors that affect job satisfaction and employee turnovers.
To study the impact of organisational culture on attrition rate in corporate firms.
2.2 HYPOTHESIS TESTING
H0- There is no significant impact of organisational culture on attrition rates.
H1- There is a significant impact of organisational culture on attrition rates.
2.3 RESEARCH DESIGN
This research design is a causal research or an explanatory research since it is establishing a cause and effect relationship between the variables. Causal studies focus on an analysis of a situation or a specific problem to explain the patterns of relationships between variables. Here the focus is on the relationship between various elements of organisational culture and their impact on the job satisfaction of employees which in turn leads to lower attrition rates.
2.3.1 TECHNIQUES USED
We have used Z test to carry out our study.
Z-test is a statistical test where normal distribution is applied and is basically used for dealing with problems relating to large samples when n ≥ 30. The name "z-test" comes from the fact that inference is made from the standard normal distribution, and "Z" is the traditional symbol used to represent a standard normal random variable. Z-tests were originally important because it gave researchers an easy way to perform statistical hypothesis testing when computing power was more limited. That is, p-values and quantiles are easily obtained from standard normal tables.
The z measure is calculated as:
z = (x – m) / SE
where x is the mean sample to be standardized, m (mu) is the population mean and SE is the standard error of the mean.
SE = s / SQRT(n)
where s is the population standard deviation and n is the sample size.
The z value is then looked up in a z-table. A negative z value means it is below the population mean (the sign is ignored in the lookup table).
The Z-test is typically with standardized tests, checking whether the scores from a particular sample are within or outside the standard test performance.
The z value indicates the number of standard deviation units of the sample from the population mean.
We have done a two-tailed Z test for testing all our variables. The level of significance we have taken for the purpose is 0.05. It means:
If Z value lies between -1.96 and +1.96, we accept the null hypothesis.
If Z value is less than equal to -1.96 or more than equal to 1.96, we reject our null hypothesis.
Acceptance region
Rejection region
2.4.1 DATA COLLECTION
Exploratory research procedure is conducted in order to identify the cause-and-effect relationship between various variables as explained earlier and Employee attrition rate. To assess the impact of these variables over the research problem, Primary data and Secondary data was collected and used.
Sampling unit-
Corporates i.e., IT and Telecom companies etc. Limited number of employees belonging to different industries were approached in order to diversify the sample elements as much as possible. Diversification among sample elements ensures a dynamic and wholesome view and standing of the population on represented research subject
Sample size-
A questionnaire covering several aspects relating to employee retention was designed and distributed amongst a sample of 60 employees chosen through incidental sampling
The primary data has a sample size of 60 which causes a restricted view of the problem. Thus, such sample is not representative of the whole industry however, enables a view into the problem
Sources of data –
Data for this research was collected both from primary and secondary sources
Sampling technique-
Primary Data – Questionnaire, Secondary Data- Company publications
2.4.2 ANALYSIS OF DATA
Data from 60 respondents from various corporate firms was gathered. Their opinions on various elements of organisational culture (policies, employee involvement etc) was reviewed and analyzed through the z test.
The calculations were:
Job satisfaction:
H0= The employee is not satisfied with his job.
H1= The employee is satisfied with his job.
Since z=3.87 which is more than 1.96, we accept our alternate
hypothesis.
2. Compensation:
H0= The employee feels that he is not being paid fairly.
H1= The employee feels that he being paid fairly for the work he does.
Since z=1.84 which is a value less than 1.96, we accept our null hypothesis.
3. Mentorship:
H0= The employee feels that his/her superior isn’t helpful.
H1= The employee feels that his/her superior is helpful.
Since z=2.87 which is a value more than 1.96, we accept our alternate hypothesis.
4. Involvement in decision making
H0= The employee doesn’t feel involved in the organization.
H1= The employee feels he is involved in the organization.
Since z=4.64, which is a value more than 1.96, we accept our alternate hypothesis.
5. Company Policies
H0= The rules and policies make doing the job difficult.
H1= The rules and policies do not make doing the job difficult.
Since z= -1.98, which is a value less than 1.96, we accept our alternate hypothesis.
6. Work environment
H0= The organization doesn’t have a co-ordinal working environment.
H1= The organization has a co-ordinal working environment.
Since z=6.23, which is a value more than 1.96, we accept our alternate hypothesis.
7. Camaraderie
H0= The employee doesn’t have friendly co-workers.
H1= The employee has friendly co-workers.
Since z= 9.13, we accept our alternate hypothesis.
The above findings depict the reviews of employees on various elements of the organisation culture.
What according to you are the reasons for high attrition rate in your company?
The responses were categorized into 2 broad categories: organization cultural factors and other factors.
Factors related to organizational culture included Lack of decision making power, training, work life balance, growth opportunities and strict policies.
What factors help in improving employee satisfaction?
Factors related to organisation culture included Good working conditions, employee involvement in decision making, friendly co-workers, reducing unnecessary reporting hierarchy and other factors included better salary and incentives etc.
Extraneous Variable
Out of a pool of variables that influence the relationship between independent variable and dependent variable. The Extraneous Variable taken into account during this research method is Economic Condition of the country.
The pool consisted of a few variable which are as follows:
Home Life: Even though professional tends to keep their work and home separate, there is undeniable impact of this variable on employee productivity and spill over on to employee attrition. This impact may be both positive or negative.
Tragedies: A terminal illness, a dying family member or a sudden need for shouldering unforeseen responsibilities often cause an employee to take a step back or work according to their convenience on a less demanding work.
Opportunities: The competition serves this variable as the employee gathers experience and expertise they are bound to be poached or look to get a ROI on their time invested in the company.
After taking into account of all these variables it was observed that employee attrition is quantifiably most affected by another Variable i.e.,:
Economic Conditions:
Some financial factors, for example, monetary advancement level, state of work advertise, employment structure, openings for work, property enter-prise, transport and correspondence, convenience, instruction and restorative offices, living cost, personal satisfaction etc all have an effect on the aim of Employee turnover. Financial development, short supply of association personnel, better work openings increment will prompt turnover goal. The idea of association influences the aim of Employee turnover. Individuals from staff in state-possessed associations have the most abnormal amount of turnover goal, the following is specialists in private associations, and the last is staff in outside supported associations. For the most part, these three sorts of business association have the higher rate of turnover expectation, more than the normal. To a specific degree, transportation, safe house, tutoring and human services facilities are adversely interrelated to the representative turnover. Under the condition of high use of living, so as to bring home the bacon, the probability of representative turnover will lessen. Representatives are probably going to stop the present place of employment for finding the opportunity of high-paid occupation in quest for a superior personal satisfaction