Employee Satisfaction and its impact on employee retention at Maruti Udyod Ltd.

Rational for the study: Companies have now realized the importance of retaining their quality workforce. Retaining quality performance contributes to productivity of the organization and increases morale among employees. Four basic factors that play an important role in increasing employee retention include salary and remuneration, providing recognition, benefits and opportunities for individual growth. But are they really positively contributing to the retention rates of a company. Basic salary these days hardly reduces turnover. Today employees look beyond the money factor. What are those factors, how to keep employee satisfied so as they feel like a part of family or team. Employee satisfaction should be of supreme importance in an organization because productivity depends on them. If your employees are satisfied they would produce superior quality performance in optimal time and lead to growing profits. Satisfied employee will turn to be loyal employee and being retained. Satisfied and retained employees creates a goodwill of the company. Well they turn to be more creative and innovative to make the company grow and change positively with time and changing market conditions. a. Objective: The objectives set for the study are: 1. Factors effecting employee satisfaction at work place. 2. Impact of employee satisfaction on retention at work place.
3. A comparative study between two companies on their employee

satisfaction level and retention. b. Research Methodology: The success of the research depends upon the methodology taken as it is also called the backbone of any research.

The sampling technique adopted for this research is random sampling which is chosen as per the convenience of the researcher. Source of Data : Primary and Secondary Data As the research undertaken, impact of employee satisfaction on retention is exploratory in nature, so secondary data is collected from the company records and primary data collection is divided into employees working and the employers. Sampling size: 140 Tools used: percentage analysis, ranking and correlation analysis. Representation tool: bar charts. c. The expected contribution from the study: this research will identify the factors effecting employee satisfaction and the perception towards the various factors which also directly or indirectly impact their retention at the work place. The study will be an attempt to find the different HR policies for employee satisfaction and retention in Maruti Udyog Ltd. This research may light upon the importance of employees satisfaction and retention on th growth of any organization, study may end up with few good suggestions in comparison with other prevailing practices in country or abroad for employee satisfaction and retention.