Final Report

Submitted to CHITKARA BUSINESS SCHOOLIn partial fulfillment of the requirement for the award of degree ofBachelor of Commerce 2015-2018 Submitted by: Supervised by:Sanchit Grover Dr. Rashmi Aggarwal 1520991298 Professor CHITKARA BUSINESS SCHOOL CHITKARA UNIVERSITY2018 CERTIFICATE OF INTERNSHIP COMPLETION CANDIDATE'S DECLARATION I hereby declare that the major project which is presented in this report entitled â€Å"EMPLOYMENT RETENTION AND MOTIVATIONAL STRATEGIES † † submitted in the partial fulfillment of the requirements for the award of the BCOM FINAL YEAR to the Chitkara University, Punjab Campus is an authentic record of my own work carried out at Chitkara University, Punjab Campus. The material embodied in this project work has not been submitted to any other university or institution for the award of any degree. SANCHIT GROVER 1520991298 AcknowledgementIn performing my project, I have taken the help and guideline of some respected Persons, who deserve our greatest gratitude. The completion of this project gives us much pleasure. I would like to show my gratitude to Professor Dr. Rashmi Aggarwal for giving guidelines for project throughout numerous consultations. I would also like to expand my deepest gratitude to all those who have directly and indirectly guided me in writing this assignment. I extend my gratitude to my managing director Mr. Rajesh Kumar , my Head Mr. Dushyant Yadav and all my colleagues, friends for their support, guidance and assistance for ongoing industrial training and for preparing the project report. I thank all the people for their help directly and indirectly to complete my assignment. Sanchit Grover1520991298Executive summaryI did my internship in RCMICCI, Chandigarh. In today's competitive world NGO have become more and more popular. In this organization I worked under the Managing Director, Mr. Rajesh Kumar.. Non-governmental organizations,  nongovernmental  organizations, or  nongovernment organizations, commonly referred to as  NGOs, are usually  nonprofit  and sometimes international organizations independent of governments and international governmental organizations (though often funded by governments)  that are active in humanitarian, educational, healthcare, public policy, social, human rights, environmental, and other areas to effect changes according to their objectives. They are thus a subgroup of all organizations founded by citizens, which include clubs and other  associations  that provide services, benefits, and premises only to members. Sometimes the term is used as a synonym of â€Å"civil society organization† to refer to any association founded by citizens,  but this is not how the term is normally used in the media or  everyday language, as recorded by major dictionaries. The explanation of the term by NGO.org (the non-governmental organizations associated with the United Nations) is ambivalent. It first says an NGO is  any non-profit, voluntary citizens' group which is organized on a local, national or international level, but then goes on to restrict the meaning in the sense used by most English speakers and the media:  Task-oriented and driven by people with a common interest, NGOs perform a variety of service and humanitarian functions, bring citizen concerns to Governments, advocate and monitor policies and encourage political participation through provision of information. CHAPTER- 1 Introductory ChapterEmployment Retention Employment Retention is basically the ability of an organization to retain the employees. It is possible to present employment retention through statistics. Consideration is employment retention is related to the efforts of employers in retaining the employees in their workforce.   Retention becomes the strategies rather than the outcome There should be a distinction between the top performers and low performing employees and the efforts to retain the employees should be targeted as valuable. Employee turnover  is a symptom of deeper issues that have not been resolved, which may include low  employee morale, absence of a clear career path, lack of recognition, poor employee-manager relationships or many other issues. A lack of satisfaction and commitment to the organization can also cause an employee to withdraw and begin looking for other opportunities. Learning from study: Retention and motivation strategies help organizations to attain organizational efficiency on one hand by increasing the productivity and profitability while on the other hand it satisfies the individual's needs of employees by reducing stress, job insecurity and increasing loyalty and commitment and job satisfaction. Motivation and retention are considered as valued tool for organizational performance and achieving quality of work life. In the present era of competition and globalization there is a need to pay attention towards the employees motivation and retention in order to achieve growth and success and developing such a work environment where employees enjoy their work and give their best. Introduction to my workplace:Company Name is ‘RCMICCI', RCMICCI, was registered with the Registrar of Societies, Under Societies Registration Act XXI of 1860 Under No. 55/63 of 2006, in New Delhi. The association brings together all the exhibition organizers, managers, designers ; stand contractors, freight forwarders, services ; facilities providers, venue owners etc. so that there is a common platform for them.. Sub category is Indian Non- Government Organization. Primary location is Delhi. Main language of this organization is English. Registered address of this company is Plot no. 316, Park View Plaza,   Ajmal Khan Road, Karol Bagh, New Delhi-110005, India . RCMICCI is a proactive and dynamic multi-state apex organization working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. RCMICCI, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation.RCMICCI is more than an organization of the business community, as it lives by the chosen motto ‘In Community's Life ; Part of It' and contributes significantly to socio-economic development and capacity building in several fields. Besides the trade promotion and business development RCMICCI is committed to the upliftment of its members through various methods RCMICCI (Reserve Category & Minority Indian Chambers of Commerce and Industry).We are an organization working for the growth of business to the Reserve Category and Minority based MSME industries and large scale industries wide organizing the regular interactive sessions with the sectors giants like Buyer Seller meet, Trade Fairs, Seminars, Etc.Project Undertaken The topic undertaken by me for research and project is Employment retention and motivational strategies. Employment Retention is basically the ability of an organization to retain the employees. It is possible to present employment retention through statistics. Consideration is employment retention is related to the efforts of employers in retaining the employees in their workforce.   Retention becomes the strategies rather than the outcome There should be a distinction between the top performers and low performing employees and the efforts to retain the employees should be targeted as valuable. Here, motivation plays the most important role as employees needs motivation to complete their tasks, may it be monetary or non monetary. Considering the case of NGO, where I've done my internship from, is an exclusive voluntary group of individuals operated not for profit or any commercial purpose, but to serve the general public and also enhance the industrial activities in different measure. India having huge unemployment rate makes the situation worse, this NGO helps the needy as much as possible. In the current scenario low income and job security are the biggest problems. Therefore, there is a pressure of NGOs in such areas with aiming to address the social challenges faced by that region. The NGOs engage staff to complete their agenda within their lifetime. 2.1) Introduction to Corporate2.1.1) Historical Background: Company Name is ‘RCMICCI', RCMICCI, was registered with the Registrar of Societies, Under Societies Registration Act XXI of 1860 Under No. 55/63 of 2006, in New Delhi. The association brings together all the exhibition organizers, managers, designers & stand contractors, freight forwarders, services & facilities providers, venue owners etc. so that there is a common platform for them.. Sub category is Indian Non- Government Organization. Primary location is Delhi. Main language of this organization is English. Registered address of this company is Plot no. 316, Park View Plaza,   Ajmal Khan Road, Karol Bagh, New Delhi-110005, India . RCMICCI is a proactive and dynamic multi-state apex organization working at the grass-root level and with strong national and international linkages. The Chamber acts as a catalyst in the promotion of industry, trade and entrepreneurship. RCMICCI, through its research-based policy advocacy role, positively impacts the economic growth and development of the nation. RCMICCI is more than an organization of the business community, as it lives by the chosen motto ‘In Community's Life & Part of It' and contributes significantly to socio-economic development and capacity building in several fields. Besides the trade promotion and business development RCMICCI is committed to the upliftment of its members through various methods RCMICCI (Reserve Category ; Minority Indian Chambers of Commerce and Industry).We are an organization working for the growth of business to the Reserve Category and Minority based MSME industries and large scale industries wide organizing the regular interactive sessions with the sectors giants like Buyer Seller meet, Trade Fairs, Seminars, Etc.2.1.2) Mission: In order to provide marketing opportunities to MSMEs within the country, certain theme based exhibitions / technology fairs etc.   organized by RCMICCI, focused on products and services offered by MSMEs specially for all reserve category and minority section of our society which   include technologies suitable for employment generation, products from specific regions or clusters (like   Food processing, Machine-tools, Electronics, Leather etc). Micro, Small ; Medium Enterprises would be provided space at concessional rates to exhibit their products and services in such exhibitions/fairs. Apart from above RCMICCI   also facilitates participation of MSMEs in the exhibitions / trade fairs / events being organized in various State   all over the country to exhibit their products and services. These exhibitions may be organized in consultation with the concerned stakeholders and industry associations etc. The calendar for these events may be finalized well in advance and publicized widely amongst all members. The calendar of events would also be displayed on the Web-site of RCMICCI. Participation in such events is expected to help the MSMEs in enhancing their marketing avenues by way of capturing new markets and expanding existing markets. This would also help them in becoming ancillaries, partners in joint ventures and sub-contracting for large companies. We provides strategies for expanding business , by organizing specialized business events and simultaneously working with the Government by providing policy suggestions which are essentially based on inputs collated from research and industry .2.1.3) Vision: We've seen children who have the potential to achieve alot in their life, but they lack achieving it because of lack of finance and resources. Many women capable of touching the skies are unable to attain their goals.our vision is to contribute the maximum of what we earn towards the education of all those poor students who are unable to spend on their education. We promote every small thing that would further contribute to the welfare of the nation as well as the citizens. Small startups by various households are being more and more encouraged. Further how can we forget the women empowerment. We encourage more and more women entrepreneurship so as to make the women of now with the best potential and who are capable of being independent of all. 2.1.4) Industry profile:RCMICCI being a national body representing all segments of the exhibition industry comprising of organizers, venue owners, and service providers like stand construction companies, logistics, etc; the vision and mission of IEIA, besides driving the association, is to promote Indian exhibitions and trade fairs as a cost effective marketing medium nationally and internationally. In the increasing digital age, Exhibitions are the only media where buyers, sellers and products physically come together and thus become a potent force for business. Exhibitions are one of the most effective media for establishing and maintaining customer relations. Exhibitions become a success only if it is planned and organized properly by taking into account the position of the stalls and the total ambience of the hall etc.2.2) Name and location of group company:Company Name is ‘RCMICCI', RCMICCI, was registered with the Registrar of Societies, Under Societies Registration Act XXI of 1860 Under No. 55/63 of 2006, in New DelhiSub category is Indian Non- Government Organization. Primary location is Delhi. Main language of this organization is English. Registered address of this company is Plot no. 316, Park View Plaza,   Ajmal Khan Road, Karol Bagh, New Delhi-110005, India .2.3) Services'RCMICCI' organises trade fairs and being a non profit organisation, serves the society well by promoting women entrepreneurship , contributes to the education of those kids whose families cannot afford it or the ones without a family and also promotes startups which encourages the ones who have good plans and are willing to do something of their own.2.4) Department of work in Organisation: I worked with event manager Mr. Dushyant Yadav .He guided me very nicely and properly. In the organization where I am doing my internship is that I am learning the overall management that includes client relation, time management and at last man power management. Commitment, leadership and mental and physical devotion are the core factors needed to manage any type of event. Irrespective of the type or the scale of the event, the mental and physical hard work that is to be put in, differs only by a negligible degree of difference. There are innumerable activities that have to be carried out. First of all forming committees, then allocating different jobs to each committee is the very first step. Here all the theoretical concepts learnt up till now in subjects like public relations, human resource planning, logistics, human skills, controlling, accounts, organizing, and others come into actual use. As an event manager one must have a lot of flexibility in terms of working pattern. Be free to do all sorts of jobs irrespective of your position.2.4.2- Roles Assigned – The roles assigned to me were: The duty assigned to me was to arrange more and more sponsors for the exhibition and further I was delegated to handle and manage the entire finance of the event so organized. There were various sponsors who showed a lot of interest to be a part of our exhibition and were attracted by the motive of organizing such events. Some of the sponsors that joined us were: Jio LIC Mewara University Maya Garden Magnesia Radio Mirchi Dainik Bhaskar Ajit2.5) LessonWorking under RCMICCI was a great experience and moreover got a lot more to learn in the practical sense. The works assigned to me helped a lot in gaining various skills relating to event management. As I was asked to approach the sponsors , this task helped me a lot in enhancing my client relations skill. As it helped me how to deal with different sorts of people differently and influencing them with your words. Secondly, I got to develop my marketing skills as well as the management skills. I was also assigned the task of handling the finance which eventually helped in developing the skills.Being an NGO RCMICCI donates it earnings and profits towards the encouragement of education among the poor sector. Which too taught me about working selflessly for the society and the welfare of those who cannot afford the essentialities of one's life. 2.5.2) Lessons/experience learnt including skills obtained Communication Skills: Interaction with senior staff members and distinct customers helped me to boost up my communication skills. Teamwork Skills: People in the workplace perform  teamwork  when workers combine their individual skills in pursuit of a goal. Interpersonal Skills: Interpersonal skills  are the tools people use to interact and communicate with individuals in an organizational environment. Problem-solving Skills: I benefited from having good problem solving skills as we all encounter problems on a daily basis, some of these problems are obviously more severe or complex than others. Organizational Skills: Organizational skills in the workplace include general organizing, planning, and time management, scheduling, coordinating resources and meeting deadlines. PRE-PLACEMENT OFFER OR AWARD OF RECOGNITION Being an NGO that organizes events time to time, they don't hire an employee on an regular basis. Whenever an event such as trade fairs , exhibitions etc. are organized they do call their best representatives for helping them out and for that work I've been strongly recommended. Also along with my internship certificate they've rated me excellent for that purpose.