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Summer Training Project Report On Yes Bank

This document is a summer training project report on employee attitude and satisfaction at Yes Bank. It includes an introduction that discusses the importance of employee retention and satisfaction. It outlines several factors that influence satisfaction, including respect, support, learning opportunities, and work-life balance. It also provides an overview of Yes Bank and introduces the objectives and methodology that will be used in the report. The document contains an outline of several chapters that will analyze literature on employee satisfaction challenges, strategies for improving satisfaction, research objectives and methodology, data analysis, conclusions and recommendations.

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Sadiq Tyagi
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100% found this document useful (1 vote)
4K views95 pages

Summer Training Project Report On Yes Bank

This document is a summer training project report on employee attitude and satisfaction at Yes Bank. It includes an introduction that discusses the importance of employee retention and satisfaction. It outlines several factors that influence satisfaction, including respect, support, learning opportunities, and work-life balance. It also provides an overview of Yes Bank and introduces the objectives and methodology that will be used in the report. The document contains an outline of several chapters that will analyze literature on employee satisfaction challenges, strategies for improving satisfaction, research objectives and methodology, data analysis, conclusions and recommendations.

Uploaded by

Sadiq Tyagi
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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SUMMER TRAINING PROJECT REPORT

ON

ATTITUDE AND SATISFACTION OF EMPLOYEES


A CASE STUDY OF YES BANK

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF


BACHELOR OF BUSINESS ADMINISTRATION (BBA)

TRAINING SUPERVISOR SUBMITTED BY


......... ASHISH THAKUR
(HEAD OF TRAINING INSTITUTE) BATCH: 2016-2019
Enrollment No.: .........

SESSION 2016-2019

DELHI INSTITUTE OF RURAL DEVELOPMENT


Affiliated to:
Guru Gobind Singh Indraprastha University, Delhi
ACKNOWLEDGEMENT

The present work is an effort to throw some light on “Attitude And Satisfaction of

Employees a Case Study of Yes Bank”. The work would not have been possible to

come to the present shape without the able guidance, supervision and help to me by

number of people.

With deep sense of gratitude I acknowledge the encouragement and guidance received

by Prof. Sumanta Sharma Associate Dean - IIPM, New Delhi. I also convey my

heartfelt affection to Mr. Xxxxxxxxxxxxxxxxxxx who helped and supported me

during the course, for completion of my thesis.


TABLE OF CONTENTS
CHAPTER -1: INTRODUCTION
 These include
 It’s not the matter of salary
 Respect and support from peers and supervisors.
 A Changing Work Force and Workplace
 Introduction to yes bank
 About yes bank

CHAPTER -2: LITERATURE REVIEW


 The biggest Challenges for the HR Department today
 Cost due to person leaving
 Recruitment Costs
 Training Costs
 Lost Productivity Costs
 Calculate the cost of the person(s) who conduct the training.
 Effective employee satisfaction & retention strategy
 Employee satisfaction is a major challenge for hr department today
 Work culture
 Career mapping
 Ancillary employee satisfaction strategies
 Employee satisfaction & retention practices in yes bank

CHAPTER -3: OBJECTIVES OF THE STUDY

CHAPTER -4: RESEARCH METHODOLOGY


 Data collection
 Method of collecting data:
 Statistical tool used
CHAPTER -5: DATA ANALYSIS

CHAPTER -6: CONCLUSION & IMPLICATIONS


 Findings

CHAPTER -7: RECOMMENDATIONS


 LIMITATIONS
 SUGGESTIONS
BIBLIOGRAPHY
APPENDIX
 QUESTIONNAIRE
CHAPTER – I

INTRODUCTION
INTRODUCTION

Many companies face the challenge of employee dissatisfaction, and incur heavy

losses. The employers provide several attractive packages in order to retain the

employee. Reasons for employee turnover constitute several controllable and non-

controllable factors.

Good economic time’s means lowered unemployment, increased productivity, and

better prospects for growth in all sectors. However, economic prosperity also means

increased job-hopping among the job seekers. Opportunities abound everywhere with

increasing competition for talent among companies. Frequent job changes are no

longer a stigma, but they are becoming norm. The issue of employee turnover is so

pronounced in today’s world, that even in Japan, where life-time employment and

high employee loyalty are the norms, workers are becoming increasingly mobile.

Even survival will become questionable, if the company witnesses higher turnover

among the top performer. With the increasing mobility among the workers, “employee

retention” poses a distinct challenge to any company.

Companies that are inflexible, or whose organizational culture is characterized by

domination and autocracy are likely to have dissatisfied employees no matter how

good the incentives to stay may be Or, at the very least, the tenure of their employees

is likely to be highly sensitive to changes in specific (usually monetary) incentives:

small changes in compensation may lead to numerous departures. There are however

other aspects of the work environment or particular jobs that can act as strong ‘de-

motivators’ that can cause people to leave their employment.


These include
 Lack of control over one’s work

 Feeling bored or unchallenged by repetitive tasks

 Lack of job security

 Lack of learning opportunities

 More generous compensation or benefits package offered elsewhere

 Concerns about the future of the firm

It’s not the matter of salary


While remuneration and other types of benefits continue to be an important factor in

the employee satisfaction equation, it is important to note that the current scenario

sees only one potential area for employee satisfaction, and not always in and of them,

sufficient to ensure strong employee commitment. Over the past 10 or 15 years,

employee participation, workplace wellness, work-life balance and other topics has

mushroomed, indicating a strong interest in and recognition of how other aspects of

working life influence people’s decisions to stay with or leave a company.

Setting aside list of employee satisfaction policies and programs, it is clear that there

is broad agreement in the general features of any potential HR program that

contributes to good retention. Most of these are directly related to creating a

satisfactory work environment for employees and thus, in turn, to good retention.

These features
A stimulating work environment that makes effective use of people’s skills and

knowledge, allows them a degree of autonomy on the job, provides an avenue for
them to contribute ideas, and allows them to see how their own contribution influence

the company’s well-being.

 Opportunities for learning and skills development and consequent advancements

in job responsibilities.

 Effective communications, including channels for open, two-way communication,

employee participation in decisions that affect them, an understanding of what is

happening in the organization and an understanding of the employer’s main

business concerns.

 Good compensation and adequate, flexible benefit plans.

 Recognition on the part of the employer that employees need to strike a good

balance between their lives at work and outside of work.

Respect and support from peers and supervisors.


Employee retention is now a very crucial issue, because in the 21st century, the only

sustainable source of competitive advantage for any company is “Human Resource”.

To maintain a stable workforce, employers must deliberately engage in retention

activities. These efforts range from offering attractive compensation packages to

involving employees in every sphere of the functioning of the organization. Today’s

employers prefer to have a stable, committed, flexible always heavy competition

among the employers to attract the best talents to enhance their competitive positions

in the market.

Becoming an employer of choice and using employer branding attract and retain the

best talents available in the market.


There exists a keen interest in the concept of company or workplace ‘culture’ and its

connection with an employee’s sense of ‘commitment’ to his or her employer. Authors

in the HR field speak increasingly of the need to ensure retention by nurturing

‘affective commitment,’ or, simply put, an employee’s desire to remain a member of a

particular organization for motives beyond compensation or obligation .

A ‘culture of commitment’ is more than just the sum of particular HR policies or

retention initiatives. It is related rather to overall organizational culture, in other

words, not just particular programs but rather how such programs fall into a

company’s overall values, how it communicates with its employees about those

values, and how employees perceive their own role within the company and the value

that the company attaches to their individual contribution.

Because workplace culture depends a lot on how individual perceptions and feelings

hold together, it can of course be difficult to say exactly what decisively makes up a

particular company’s culture. Branham (2007) suggests that commitment-oriented

corporate cultures depend on a number of objective and subjective elements. Cultures

of commitment, he writes:

 View employees as partners.

 Recognize the human needs of all employees.

 Invest in people as the primary source of competitive advantage.

 Communicate clear corporate mission, vision, strategy, goals, and objectives.

 Commit to long-term strategy and the people needed to carry it out.

 Reward system and management styles to support the mission and strategy.

 Focus on “managing the performance contract,” not controlling the people.


 Put a premium on employee involvement in new ideas and innovation.

 Focus on results, not on who gets credit.

 Trust employees enough to delegate.

 Tolerate “intelligent error” and experimentation.

Nevertheless, the literature strongly supports the notion that people stay with their

employers if the culture of commitment is strong. Beyond this, however, it is also

clear that people are more likely to stay if the perceived workplace culture—however

this is communicated—is a good “fit” with the individual’s own interests, orientation

and attitudes. Indeed, while compensation, personal and professional development

opportunities, and other incentives are important in attracting people and keeping

them happy, their decision to stay with the company depends vitally on how well they

fit in to the company’s way of doing business, how it treats employees, what it

expects of them, and how people relate to one another in the workplace.

This is concerned with the relationship between dimension of work satisfaction and

behavioral indices of retention. Contention that the satisfier-dissatisfier dichotomy is

supported by the fact that motivator factors are more often responded to as satisfiers

than dissatisfier and hygiene factors more often responded to as dissatisfiers than

satisfiers does not necessarily imply the uni-dimentionality of the motivator and

hygiene factors like workplace and workforce.

A Changing Work Force and Workplace


Fundamental changes are taking place in the work force and the workplace that

promise to radically alter the way companies relate to their employees. Hiring and

retaining good employees have become the chief concerns of nearly every company in
every industry. Companies that understand what their employees want and need in the

workplace and make a strategic decision to proactively fulfill those needs will become

the dominant players in their respective markets.

The fierce competition for qualified workers results from a number of workplace

trends, including:

 A robust economy

 Shift in how people view their careers

 Changes in the unspoken "contract" between employer and employee

 Corporate cocooning

 A new generation of workers

 Baby boomers striking out on their own after hitting corporate ceilings

 Changes in social mores

 Life balance

Concurrent with these trends, the emerging work force is developing very different

attitudes about their role the workplace. Today's employees place a high priority on

the following:

 Family orientation

 Sense of community

 Quality of life issues

 Volunteerism

 Autonomy

 Flexibility and nonconformity


To hold onto your people, you have to work counter to prevailing trends causing the

job churning. Smart employers make it a strategic initiative to understand what their

people want and need -- then give it to them.

Foundation stones of companies which attract, retain and motivate high performing

employee is a positive and valuing attitude toward them. In this era of monster

mergers and mega corporations, it is all to easy for top management to see employees

as expendable resources to be hired and fired at will according to the current short-

term business plan. So the employer attitude is the foundation of employee retention.

One can improve your employee retention by being more sensitive to why people

leave. Ongoing research reveals the following five principal reasons:

 It doesn’t feel good around here.

 I don’t get the support I need to get my job done.

 There’s no opportunity for advancement.

 Compensation is the last reason most people leave.


INTRODUCTION TO YES BANK

ABOUT YES BANK


YES BANK, India’s new age private sector Bank, is an outcome of the professional

commitment of its Founder, Rana Kapoor and his highly competent top management

team, to establish a high quality, customer centric, service driven, private Indian Bank

catering to “Emerging India”. YES BANK is the only Greenfield license awarded by

the RBI in the last 12 years, associated with the finest pedigree investors.

YES BANK has adopted international best practices, the highest standards of service

quality and operational excellence, and offers comprehensive banking and financial

solutions to all its valued customers. A key strength and differentiating feature of YES

BANK is its knowledge driven approach to banking and an unprecedented customer

experience for its retail banking and wealth management clients.

YES BANK is built on a foundation of trust, strengthened by knowledge, backed by

cutting-edge technology, governed by transparency and committed to responsible

banking. The result is an unstinted commitment to growing your wealth.

It is this commitment that has earned us the distinction of being ranked India’s No. 3

Bank in a recent survey of listed banks in India, by Business world. The same survey

also ranked YES BANK No. 1 in Safety, Efficiency & Growth. YES BANK was

recently ranked No. 2 amongst New Private Sector Banks, in the Financial Express

survey of India’s Best Banks for 2007, while being ranked No. 1 in Growth.

Today, YES BANK is present across all major cities in India and offers a

comprehensive range of banking products and financial services which include


corporate and institutional banking, financial markets, investment banking, business

and transactional banking, retail and private banking business lines across the

country. The Bank’s constant endeavour is to provide a delightful banking experience

expressed with simplicity, empathy and totality.

 Yes Investors

 Rabobank (Nederland)

 More than 15% ownership stake in YES BANK

Owned by approximately 288 local banks which provide financial services and

products to the Dutch retail and business markets that, together with Rabobank

Nederland and its subsidiaries, form the Rabobank Group

In its Dutch home market, the Rabobank Group has approximately 1.5 million

members, nine million business and private customers and is the market leader in

virtually every area of financial services

 Outside the Netherlands, the Group has 244 offices, in 37 countries

 Responsible for establishing the Netherlands as a global role model in the Food &

Agribusiness businesses

 Consistently awarded a AAA credit rating by both the leading rating agencies,

Moody’s and Standard & Poor’s respectively.

 The Bank's stability is further evidenced by its being named among the Top 5

World's Safest Banks by Global Finance magazine for three consecutive years, in

2006, 2007, and 2008


 Citigroup Venture Capital International (CVC)

 7.41 % ownership stake at a 25% premium in YES BANK

 A division of Citigroup Global Investments and part of Citigroup Inc.

 Headquartered in London, with regional offices in Hong Kong, Delhi, Mumbai

and New York

 Responsible for the origination, structuring, execution and monitoring of

investments in emerging markets

 CVCI’s investments in India are valued at approximately USD 1 billion. Some of

the other prominent investments in India include i-flex limited, Progeon Limited

(a subsidiary of Infosys Technologies Limited), Lupin Limited and Suzlon

Limited.

 Chrys Capital II, LLC

 5.56 % ownership stake at a 40% premium in YES BANK

Principal investment firm that provides growth capital to services businesses,

combined with strategic expertise to enhance margins and free up capital for

acquisitions, sales force expansion and other key initiatives

Presently has approximately $450 million under management, with investors that

comprise of prestigious institutional investors including Harvard Management, IBM,

the Government of Kuwait, Microsoft, Stanford University, the Government of

Singapore, CEOs of multinational firms and partners of several top-tier global private

equity firms
The firm targets investment sectors encompassing Outsourcing services, Business and

Financial services, Healthcare services, Software services and Information services

In addition to YES BANK, ChrysCapital’s investments include Core3, Global

VantEdge, IVRCL, MphasiS BFL, New Path Ventures and Tech Team.

AIF Capital
 5.56 % ownership stake at a 40% premium in YES BANK

 Headquartered in Hong Kong, AIF Capital is one of the largest Asia-based

independent private equity firms

 Over US$1 billion under management and provides growth capital for expansion,

buy-outs or recapitalization, primarily to unlisted companies

Oversees a broad based portfolio of investments in sectors ranging from supply chain

management, financial services, manufacturing, specialty steels and engineering

services, to power generation, telecom and transportation

AIF Capital’s associates include Frank Russell Company, and investors in its funds

include major corporate and government pension and investment funds, insurance

companies and financial institutions from North America (51%), Australia (17%),

Asia and the Middle East (17%) and Europe (8%), as well as multilateral agencies

such as the International Finance Corporation, Washington and Asian Development

Bank and Manila (7%)

The current portfolio of over US$850 million encompasses a number of industry

sectors and is well distributed geographically across South Asia, South East Asia and

North Asia.
In addition to YES BANK, AIF Capital’s portfolio in India includes Bharti Tele-

Ventures and GVK Industries

Financial Trust
The vast banking experience of Founder, Rana Kapoor, has been strengthened by the

financial support of Rabobank Netherlands, the world’s only AAA rated private Bank,

and respected global institutional investors like Swiss Re, Khazanah Nasional,

Fidelity, HSBC, TIAA-CREF, Arisag amongst others including private equity

investors AIF Capital and Chrys Capital, to provide YES BANK a strong foundation

of enduring financial trust.

Human Capital
At YES BANK, we look to offer comprehensive banking and financial solutions.

Which is why, we have inducted top quality Human Capital across all our banking

functions, including Corporate & Institutional Banking, Financial Markets,

Investment Banking, Business & Transactional Banking and Retail Banking & Wealth

Management

Knowledge Banking
Our differentiated view of banking as a knowledge-based industry has ensured that

our Bankers are also industry experts in sectors like Food & Agribusiness, Life

Sciences, Telecommunications, Media & Technology, Infrastructure, Retailing &

Textiles and Select Engineering. These Knowledge Bankers offer invaluable and in-

depth insights into these sectors, thereby helping our clients to develop great ideas and

nurture them to fruition.


Technology Edge
Technology is another key differentiator at YES BANK. Our alliances with best-of-

breed technology partners ensure proactive, on-demand support to meet our growth

requirements, as well as the continuous development of our systems infrastructure and

delivery channels.

Corporate Governance
Our foundations have been inscribed with stringent Corporate Governance measures,

whereby transparency, disclosure norms and accountability have paramount

importance, in order to safeguard the trust and wealth of each and every stakeholder

and customer.

Responsible Banking
Our commitment extends further, from our customers, investors, stakeholders and

employees to society at large. By focusing on sustainability and corporate social

responsibility, we aspire to be a role model institution in Responsible Banking.

Growth
Indeed, at YES BANK, we look to partner the growth of our clients, while they gain

from leveraging our financial expertise, thereby enabling us to accomplish our

mission of “Creating and Sharing Value”.

PROMOTERS
YES BANK is financially owned by Mr. Rana Kapoor and Mr. Ashok Kapur, who

have a collective financial stake of 38.62%.


Mr. Rana Kapooris the Managing Director & CEO of the Bank. He holds an MBA

from Rutgers University in New Jersey, U.S.A. and a Bachelor’s degree in Economics

(Honours) from the University of Delhi.

A professional entrepreneur, Mr. Kapoor is also a seasoned banker with decades of

experience to his credit. Prior to joining YES BANK, he was the Chief Executive

Officer and Managing Director of Rabo India, responsible for all its business

activities, including Corporate Finance and Investment Banking. Prior to joining Rabo

India, Mr. Kapoor was the General Manager and Head: ANZ Grindlays’ Investment

Bank (ANZIB) in India for a period of two years. Mr. Kapoor also spent 16 years at

Bank of America, where he managed corporate, government and institutional clients.

Mr Kapoor is a member of the Government of India’s Board of Trade. This apex body

consisting of top leadership from the Industry is nominated by the Ministry of

Commerce & Industry. He is a member of the CII National Council and a member of

the FICCI Executive Committee. Mr Kapoor was a member of the Managing

Committee of the Indian Banks’ Association (IBA), a premier body represented by top

Bankers across the industry. He was also the Chairman of CII’s Banking Committee

for the year 2006-07.

Mr Kapoor was awarded the ‘Start- up Entrepreneur of the Year 2007’ at the Ernst &

Young Entrepreneur of the Year Awards by an imminent jury. Mr. Ashok Kapuris the

Non Executive Chairman of the Bank. He is an Associate of the Institute of Bankers,

U.K.

Mr. Kapur has been in the industry since 1962 and was employed by Grindlays Bank

in various capacities including General Manager, Institutional Banking and Managing


Director, Grindlays Merchant Bank of Nigeria Limited. He has also worked as

Regional Manager (Executive Vice-President), ABN Amro Bank, Singapore, where he

was involved with the geographical spread of the Asia/Australia branch network and

the different business groups including commercial and investment banking. He was

also the first Asian to be appointed Country Manager of ABN Amro Bank, India.

Before joining YES BANK, Mr. Kapur was the Managing Director of Rabo India

where he led a management team to partner Rabobank Netherlands to set up Rabo

India, a new financial service company focused on corporate and structured finance

for the Indian market.

Sustainability and Corporate Social Responsibility (CSR)


Historically, in addition to their commercial role, banks have been viewed to be the

trustees of public funds. With an inherent “social responsibility” to augment this trust,

there is an even greater onus on banks to be more accountable. Given the increasing

exposure to environmental, social and ethical risks, banks can only maintain

sustainable profitability through client and risk benchmarking and forward looking

business approaches.

YES BANK is pioneering a business approach titled Responsible Banking which

integrates Sustainability and Corporate Social Responsibility (CSR) within the larger

philosophy of the Bank, which includes:

 Adopting a social and economic value generation model and supporting

businesses that do so

 Addressing responsibility to the Bank’s various stakeholders


 Including “social and environmental risks” in the Bank’s risk and client rating

model

 Recognising and managing change

 Operating in a “Sustainability Zone” to mainstream environmental and social

issues, structure bankable projects and provide innovative financial services

At YES BANK, Responsible Banking is being championed through a model that is

geared to identify and provide innovative sustainable finance and services. This is

further strengthened by a bank-wide vision to develop strong internal governance and

CSR processes and an external outreach model. More importantly, this model

addresses cutting edge sustainability approaches which may be defined as Second

Generation Sustainability (SGS) - a key component of new age banking. This

includes:

 Socially Responsible Investing (SRI) – awareness and social capital building

through sustainable financial literacy, SRI principles and SRI funds

 Asset Management – SRI approaches, Sustainable Asset Management, assets

under management with high social and environmental benefit

 Specialised Banking – extending banking services to classes, communities or

projects not traditionally included in the banking fold, e.g. microfinance, NGO

banking, etc.
The name YES signifies -
The essence of the brand completely by conveying all the values and characteristics -

Attractive, Smart, Simple, Serious, Reliable, Trustworthy, Optimistic, Positive,

Efficient, Universal

Clutter breaking in the banking environment, and affirmative with target clients across

business and market segments

YES BANK is pursuing a Brand strategy to build one of the finest financial brands in

India. YES BANK believes that differentiation begins with its service and trust mark

embedded in ‘YES’, which represents the Bank’s fundamental goal of being a highly

service-oriented Financial Institution. The endeavour at YES BANK is to provide an

unprecedented Delightful Banking Experience to all its customers.

Brand Vision and Commitment


 To be recognised as the WORLD’s BEST QUALITY BANK IN INDIA

 To provide a Delightful Banking Experience to all it’s customer

 To be a long term partner with all stakeholders particularly customers by creating

& sharing value

 To be a solid and trusted financial trust mark backed by two professional

promoters and an exceptional management team.

Brand Pillars, The YES BANK brand is being built around 5 Key Brand Pillars, which

epitomise the growing strengths of the Bank. All communication and advertising has

been created around these key Brand Pillars


Growth - YES BANK's core promise is growth, for it's internal and external

stakeholders symbolise in Say YES to Growth!

Trust - YES BANK's Promoters, Investors and Top Management team, are all of the

highest pedigree with a demonstrated track record, thus inspiring and establishing a

Trust Mark - Say YES to Trust!

Knowledge Driven Human Capital - YES BANK has adopted a knowledge driven

entrepreneurial approach to Banking and offers Financial Solutions beyond the

traditional realm of banking.

YES BANK's top quality Human Capital represents the finest talents in Indian

banking mobilised from India and abroad.

Technology - YES BANK is establishing the highest standards in customer service by

adopting cutting-edge Innovative Technology. The only thing constant about YES

BANK's Technology is Evolution.

Transparency & Responsible Banking - YES BANK holds Transparency and

Accountability above all else. The Bank has established the most stringent Corporate

Governance norms, and is also committed to Responsible Banking by focussing on

Sustainability and Social Responsibility.

YES BANK will continue to declare it's Promise through consistent communication

activities under the Brand Slogans "Experience our Expertise" and "YES for YOU".
Corporate Governance
Corporate Governance is the manifestation of professional beliefs and values, which

configure the organizational ideals and actions of its employees. Transparency and

accountability are the fundamental principles of sound Corporate Governance.

As a new age private sector Bank, YES BANK is establishing the highest standards of

Corporate Governance right across the organisation. With an excellent Board of

Directors and the institution of all recommended sub committees, the Bank is already

compliant with all statutory requirements.

The YES BANK Philosophy


“To set the highest standards of Corporate Governance, benchmarked with global best

practices, ensuring that the organization is managed and monitored in a responsible

manner to ‘Create and share value."

Corporate Governance Initiatives at YES BANK


The composition of the Board of Directors of YES BANK is governed by the Banking

Regulations Act, 1949, all RBI guidelines (including the Ganguly Committee

recommendations), the Companies Act, 1956, listing requirements of the Stock

Exchanges (Clause 49) and best of class practices.

In compliance with the requirements the Companies Act, 1956, five board level sub-

committees have been set up to ensure effective functioning of the Board.

A code of conduct that binds the Board of Directors and senior management is in

place.
YES BANK is pioneering a business approach titled Responsible Banking which

integrates Sustainability and Corporate Social Responsibility (CSR) within the larger

philosophy of the Bank.

At YES BANK, we seek to provide you with innovative financial solutions to meet all

your financial needs, combined with an ambience, culture and expertise that we trust

will create a delightful banking experience.

Our state-of-the-art technology and alliances with best-of-breed technology partners

have enabled us to design products and services that provide our customers with

Choice and Convenience, the key paradigms of our service proposition. We encourage

you to visit our branches to benefit from the YES Experience!

Technology Edge
At YES BANK, we are employing technology as a strategic business tool for a

competitive advantage. We intend to effectively employ our technology in a cost-

efficient manner to achieve superior standards of customer service.

We are currently building flexible, scalable and adaptable technology relationships

and frameworks, through:

Strategic Total Outsourcing


An IT Investment Portfolio comprising of innovative technologies and best-of-breed

solutions

Developing Strategic Alliances with key technology providers for a sustained

technology advantage
We, at YES BANK, are investing in innovative, robust and world class technology to

facilitate the launch of differentiated products and deliver an unparalleled customer

experience.

Core Principles
Our IT strategy is being formulated in consultation with Gartner. This strategy

recognizes the future requirements of the Bank and addresses the six critical needs

that we have identified for successfully running a new Bank:

 High levels of efficiency through automation

 Centralized database management & centralized processing

 Connectivity with customers and external agencies to provide a consistent

experience at various “touch-points”

 Best of breed systems which enable integration of front, middle and back offices

(Straight Through Processing)

 Strong built-in surveillance and security systems, providing a “comfort” factor to

all users

 Real time environment facilitated by high network uptime through proven disaster

recovery processes and back-up systems

Strategic Total Outsourcing


Pursuant to our IT strategy, we have adopted a Strategic Total Outsourcing model in

the areas of Information Technology and Business Services. This enables the Bank to

build operational excellence by concentrating on core business activities and ensures


world-class quality standards in service delivery to customers, through well structured

and documented Service Level Agreements.

Strategic Alliances
YES BANK is entering into strategic alliances with key Information Technology

service providers and consulting partners to develop innovative system features in

order to improve process efficiencies and to create sector-specific banking solutions

for differentiated offerings in the market place.

As a norm, YES BANK follows a disciplined process wherein technology decisions

are based on well defined phases of evaluation, with the objectives and outcomes of

each of the phases clearly pre-established. Strategic fit, architectural alignment,

customer benefits and operational impact are key determinants of this process.

The first of these strategic initiatives is the Global Strategic Cooperation

Memorandum signed with i-flex to collaborate on technology-led innovations for

improving products and processes by effectively leveraging each other’s

competencies and areas of strength across the larger industry domain of financial

services and across international markets of interest.

We have adopted i-flex’s FLEXCUBE, an efficient universal banking solution, as the

core banking system for our Retail and Corporate Banking businesses. FLEXCUBE,

an internationally recognized banking system, provides YES BANK the technological

“head start” and institutional agility to launch new products across business segments,

enabling rapid growth.

In consultation with Gartner, we are adopting a comprehensive IT Governance

framework which would help in IT Performance management, effective IT operating


structure, IT Control framework and a responsible IT Organization for ensuring

technology and Business alignment and making our technology resilient enough to

learn and adapt.

As a part of Total Outsourcing Agreement with WIPRO, YES BANK is also entering

into a Banking Technology & Operations Strategic tie-up, wherein we shall be

forming specific Banking Center of Excellence for technological advancement for

mutual benefits and collaborating on improving operational efficiencies for Business

Process Services.

Wipro will deploy, own and manage all IT assets and provide 24 hour support services

for YES BANK’s operational technology requirements. In addition, we have

established a distinct Business Services Unit that will manage non-core processing

and applications management. This unit is being developed on the foundations of Six

Sigma practices and in conformation with ISO guidelines.

We have also signed a Strategic Co-operation Agreement with CashTech to develop

structured solutions, customized for select knowledge intensive business sectors, to

optimize customer financial supply chains. The partnership will further leverage our

domain knowledge and CashTech’s implementation expertise to offer end-to-end cash

management solutions to clients. After undertaking an exhaustive technical and

business analysis on the above lines, CashIn, CashTech’s comprehensive cash

management solution, has been adopted to facilitate our strategy of providing end-to-

end cash management solutions.

YES BANK has also licensed an integrated, cross-asset platform from Murex, the

leading provider of trading, risk management and processing solutions for capital
markets. The solution will enable straight-through-processing of all treasury

transactions. Murex will provide YES BANK with an integrated platform offering

uncompromising specialization and leading functionality in each asset class.


CHAPTER – 2

LITERATURE REVIEW
LITERATURE REVIEW

The biggest Challenges for the HR Department today


With the economy booming on all cylinders, companies in every sector are facing

problems hiring and retaining people. All the write ups on the war for talent that had

been fashionable in the dotcom boom are being dug out and dusted for use all over

again. One MNC operating in India is reputed to have displayed the following sign on

its premises: “trespassers will be recruited”.

Since every industry is in the throes of globalization the war for talent is being fought

not just with the local competitors but also with international competitors who are

facing similar hiring crunch in their native geographies.

In the best of worlds, employees would love their jobs, like their coworkers, work

hard for their employers, get paid well for their work, have ample chance for

development and flexible schedules so they could attend to personal and family needs

when necessary. And never leave.

But then there is ‘real world’. And the real world employees do leave either because

they want more money, hate working conditions, hate their coworkers, want a change

or because their spouse gets a dream job somewhere else. So, what does this entire

turnover cost? And what employees are likely to have the highest turnover? Who is

likely to stay longest?

It is, however, no easy task for an HR manager to bridge the ever increasing demand

and supply gap of professionals. HR managers are not only required to fulfill this

responsibility, but also find the right kind of people who can keep pace with the
unique work patterns of the industry. Adding to this is the issue of maintaining

consistency in performance and keeping the motivation levels high, despite the

monotonous work. The toughest concern for an HR manager is, however, the attrition

rate.

Attrition is not just a battle for good middle and senior management staff which is

scarce at all times but equally for frontline staff where companies in sectors as diverse

as retailing, ITES and hospitality often compete for similar profiles. Corporate

Executive Board survey in the US which found that average quality of recruits across

industries has declined by 10% since 2006 and that the average time taken to fill a

vacancy has increased by over 80%. The industry body NASSCOM had predicted a

shortfall of resource requirements by 500,000 heads four years from now. In short,

growing demand, increasing shortage, diminishing quality and increasing business

pressure for growth is creating dangerous cocktail for recruiting managers.

Initially, attrition was treated as a part of the game, but today, attrition itself is a game.

That is why big business leaders like Mr. Narayana Murthy say, “Our assets walk out

of the door every evening. We have to make sure that come back the next morning.”

Gone are the days when people were put at the liability side of the balance sheet of

any organization. Now - a - days they are valued as ‘assets’ and put at the ‘assets’ side

of the annual financial statement of great organizations. Infosys follows this valuation

and BHEL, long before the former one, has initiated this people valuing initiative to

give an all new value proposition to the employees of the organization.

Staff attrition and absenteeism represent significant costs to most organizations. It is

odd, therefore, many organizations neither measure such costs nor have targets or
plans to reduce them. Many organizations appear to accept them as a part of the cost

of doing business- a sign of increasing job mobility and decreasing staff loyalty

perhaps, a matter to be regretted but just ‘one of those things’. They add a sum in their

budget for ‘temporary staff’ and ‘recruitment’ and forget about it.

However, it seems to be one of the areas in which HR can make a difference and one

that can be measured in quantifiable, financial terms against targets.

An attrition rate in call centers has become legendary. Indeed, the attrition rates in

Indian call centers now reach 80%. This is extreme figure but the average attrition

rates in some Indian call centers are up around 30%-40%.

However, it is interesting to note that the attrition rates in India – and the costs

associated – are so high that they can override the benefits of lower wage costs. While

wages in call centers in Indian are less than one-eighth of those in Northern Europe, it

has been reported that Hewlett-Packard have found the cost of processing a query has

doubled due to the inability of the staff to resolve customer queries efficiently because

of language barriers and inexperience. It is said that this increased cost has made HP’s

move from Ireland to India “completely pointless”, and that it can never recover the

substantial cost of the move. It is further reported that GE Capital has moved a call

center back to Australia after staff attrition rates of 70% wiped away any potential

cost saving.

The issue is not with the quality or education of the staff – and still less with the

investment in technology. It is simply attrition – people don’t stay long enough to be

taught or to learn the job. The staff may be cheaper but if they cannot do the job,
what’s the point? Managing attrition is just not the ‘nice thing to do’ in Indian call

centers. It is the route to their survival.

 Nationally, the average annual employee turnover rate for all companies is 12%.

 In terms of numbers, attrition rate means:

 Total number of resigns per month (whether voluntary or forced) * 100

 Total number of employees at the beginning of the month + Total number of new

joinees – Total number of resignations

If calculating in monetary terms, attrition rate includes the following:

Cost due to person leaving


Cost of the person(s) who fills in, while the position is vacant. Cost of lost

productivity at a minimum of 50% of the person’s compensation and benefits cost for

each week the position is vacant, even if there are people performing the work.

Calculation of lost productivity at 100% if the position is completely vacant for any

period of time.

Cost of conducting an exit interview to include the time of the person conducting the

interview, the time of the person leaving, the administrative costs of stopping payroll,

benefits deductions and benefit enrollments.

Cost of the manager who has to understand what work remains, and how to cover that

work until a replacement is found.

Calculate the cost of training your company has invested in this employee who is

leaving.
Calculate the impact on departmental productivity because the person is leaving. Who

will pick up the work, whose work will suffer, what departmental deadlines will not

be met or delivered late.

Calculate the cost of lost knowledge, skills and contacts that the person who is leaving

is taking with them out of your door. Use a formula of 50% of the person's annual

salary for one year of service, increasing each year of service by 10%.

Subtract the cost of the person who is leaving for the amount of time the position is

vacant.

Recruitment Costs
The cost of advertisements; agency costs; employee referral costs; internet posting

costs.

The cost of the internal recruiter's time to understand the position requirements,

develop and implement a sourcing strategy, review candidates backgrounds, prepare

for interviews, conduct interviews, prepare candidate assessments, conduct reference

checks, make the employment offer and notify unsuccessful candidates. This can

range from a minimum of 30 hours to over 100 hours per position.

Calculate the cost of the various candidate pre-employment tests to help assess a

candidate’s skills, abilities, aptitude, attitude, values and behaviors.

Training Costs
Calculate the cost of orientation in terms of the new person's salary and the cost of the

person who conducts the orientation. Also include the cost of orientation materials.
Calculate the cost of departmental training as the actual development and delivery

cost plus the cost of the salary of the new employee. Note that the cost will be

significantly higher for some positions such as sales representatives and call center

agents who require 4 - 6 weeks or more of classroom training.

Calculate the cost of the person(s) who conduct the training.


Calculate the cost of various training materials needed including company or product

manuals, computer or other technology equipment used in the delivery of training.

Lost Productivity Costs


As the new employee is learning the new job, the company policies and practices, etc.

they are not fully productive. Use the following guidelines to calculate the cost of this

lost productivity:

Upon completion of whatever training is provided, the employee is contributing at a

25% productivity level for the first 2 - 4 weeks. The cost therefore is 75% of the new

employees full salary during that time period.

During weeks 5 - 12, the employee is contributing at a 50% productivity level. The

cost is therefore 50% of full salary during that time period.

During weeks 13 - 20, the employee is contributing at a 75% productivity level. The

cost is therefore 25% of full salary during that time period.

Calculate the cost of mistakes the new employee makes during this elongated

indoctrination period.
New Hire Costs
Calculate the cost of bring the new person on board including the cost to put the

person on the payroll, establish computer and security passwords and identification

cards, telephone hookups, cost of establishing email accounts, or leasing other

equipment such as cell phones, automobiles.

Calculate the cost of a manager's time spent developing trust and building confidence

in the new employee's work.

EFFECTIVE EMPLOYEE SATISFACTION & RETENTION


STRATEGY

Every year companies spend millions in recruitment due to employee turnover.

Turnover and its associated costs are a burden that used to be just the cost of doing

business. But more and more companies are investing time and effort in making better

hiring decisions and doing more to keep the employees they do hire. Employee

retention is now a buzz word in today’s business world.

Mutual understanding of job requirements is essential as many candidates eager for

employment may overlook essential duties or prerequisites. This is a good time for

any testing you may require as well as drug testing or background checks. Carefully

check the references of prospective employees. Remember that verbal

recommendations should be followed up with letters. Wait until these letters are

received and reviewed before making that final offer of employment. It is a common

misconception among job seekers that references are not routinely checked and past

practice is the root of this assumption. In the past, small employers and indeed many

larger ones did not follow up on all references provided by applicants. In some cases,
only cursory phone calls were made and the result was that unqualified or unsuitable

applicants were hired. This only led to more employee turnover when deficiencies

were discovered. To avoid this follow phone calls with written inquires to all

references.

The next step is to communicate all relevant personnel policies to new hires in the

form of some type of employee manual. Vacation and sick time, dress codes,

confidentiality agreements, and disciplinary policies are just some of the topics that

should be addressed. If you don’t have an employee manual, make a checklist of all

important issues and get written documentation that these matters have been discussed

with prospective employees. Documentation can be essential if there is dispute about

personnel matters that lead to subsequent termination.

Once your candidate becomes an employee, the pressure on management to keep

them mounts. Many factors affect employee satisfaction and managers need to do all

they can to maintain a level of morale and development strong enough to sustain

employee satisfaction. This does not mean sacrificing values, principles, or policies. It

does mean having a sound Human Resource Policy, training and development

opportunities, and a positive work environment.

For many companies, HR policies and training opportunities are formalized parts of

their business. Smaller companies need to focus on scaled down versions to cover

their smaller workforces. Many times, an employee handbook might be a collection of

memos and training opportunities are less frequent. But in the nature of a small

business these things might not impact upon employee understanding and satisfaction.
The one thing that all employers need to focus on is maintaining a positive work

environment.

Managers need to keep a keen ear to the ground when it comes to employee

satisfaction and morale. People rarely suffer in silence and trouble areas usually

surface quickly. Managers need to address them just as quickly. Don’t be afraid to

share the pressures and concerns with your employees. Encourage them to share their

pressures and concerns with you. The companies with open lines of communication

are much less likely to lose employees due to dissatisfaction. Keeping the office door

open is the key to successful employee relations and companies that make it a priority

reap the rewards. Many companies maintain employee assistance programs as part of

their benefit packages and these prove invaluable in preventing turnover due to

employee’s personal problems. But smaller companies can enjoy comparable benefit

by having a sensitive and caring manager or senior employee to provide an ear to

troubled employees.

Employee turnover is costly and disabling to every company but employers have

more control over turnover than they may think. True, in a competitive marketplace,

some turnover is inevitable as career paths change and better opportunities arise. But

an ethical and invigorating workplace holds a special attraction to many workers.

Most surveys show that money is not the first consideration employees make when

choosing to stay in a job. More intrinsic values such as appreciation, ethics, and

environment are high on the list of assets that every company can offer.

Each employee’s background, motivation, and goals (both personal and professional)

are different. Yet 95% of the time, employers and mangers focus on the simplest
common denominator for praise: money. By finding out what really motivates each

individual, managers can tailor rewards to employee’s motivations. The surprising

thing is that many times these tailored rewards cost no more than traditional monetary

raises, but are appreciated much more.

Some good examples are:

 Additional time off to spend time with family or vacations.

 Flexible working hours to accommodate personal needs.

 Opportunities to participate in work focus groups or committees.

 Public or company recognition during a staff meeting.

 Industry or job specific training.

 Spot rewards (such as cash or movie tickets) for immediate feedback.

With unemployment rates at an all-time low, the growing challenge for employers

continues to be retaining key employees. The key is knowing each employee well

enough to ensure that motivational factors are taken into consideration. By focusing

on each individual employee, not just traditional yearly compensation increases,

mangers and organizations can build lasting employee appreciation and loyalty.
EMPLOYEE SATISFACTION IS A MAJOR CHALLENGE FOR HR

DEPARTMENT TODAY

Holding on to skilled employees once they have been hired is a major challenge for

HR departments. The ease with which employees can now change jobs, move and

change industries has all but erased the days of employees remaining loyal to one

company for the majority of their career. The costs associated with losing an

employee and hiring a replacement is considerable. Thus outlining and following a

effective retention policy in an organization becomes very important for the long term

growth and success of any organization.

One might ask what an organization should do to retain the employees because this is

the era of ‘competitive pirating’ and it becomes very difficult to retain employees.

Retention Strategy could be adopted effectively at all stages starting form recruitment

and selection of employees, providing an effective pay packages and compensation,

outlining an efficient career development path for employees and most importantly

catering to their emotional, mental and family needs,

On a broad basis following points turn out to be successful in retaining employees.

1. Compensation

2. Work culture

3. Career Path and Career Mapping.


THE ROLE OF COMPENSATION

The premise underlying this plan is that money is not the only or even the major

factor, but it cannot be said that money has nothing to do with keeping good people.

Not all compensation is financial. When a manger has been selected, he or she should

be given every opportunity or preparing for the coming role travel, continuing

education, industry exposure through speeches and articles. All of these things the

corporation can help with.

But the pay envelope counts too. If the company has an incentive compensation

arrangement, it should be reviewed to determine the extent to which it really provides

an incentive

The company that wishes to keep key executives must be willing to steer the

compensation plan in their favor. This does not mean mindless favoritism. If the

organization has planned and accurately identified objectives, then performance

criteria will reflect those objectives. If a compensation plan does not give the lion’s

share to those who carry the hope for the company’s future, then the criteria might

well be reexamined.

The future leaders should be given their head on a fast track. The company should

commit itself to promoting them to positions of power by a certain time. They should

be handled and compensate as “special” people–and they should know it.

WORK CULTURE
When people from different social, economic and educational backgrounds work

together in an organization for several years, they tend to internalize certain common

beliefs, values, attitudes and norms of behavior. The common bonds that get firmly
established become the organization’s “culture” and any deviation from the

boundaries of this culture is difficult indeed. The concept of organizational culture

becomes particularly relevant to our times, more so, because we need to inevitably

give up several habits/thoughts/practices that had dictated and influenced our actions

in the past. Any attempt to resist change by organizational members particularly

when such change is sought to be introduced to take the organization to greater

heights and bring about drastically new ways of managing things needs to be

discouraged by management’s with all their might. Culture for culture’s sake will

work no more. Any culture that is tuned to satisfy and cater to the needs of the

market(s) and the customers will alone work this has become an urgent necessity.

What then, is the best organizational culture, involving all people of an organization,

which facilitates professionalism, builds optimism, positive attitudes and, always

helps management take tomorrow’s decisions to day?

The answer is simple pro-active organizational cultures. Not passive, not reactive, but

pro-active. In passive organizational cultures, there is a tendency to postpone

decisions, act slow, and generally encourage formation to postpone decisions, act

slow, and generally enterprises are typical examples.

Crisis management is the order of the day. The pro-active organizational cultures do

not have any of the weaknesses of the passive and reactive organizational cultures.

These are organizations that have cultures born out of far-sighted, progressive and

professional Chief Executives. Visionary leadership is there for the asking, even at

junior management levels. Nobody stops with just asking “why” but also goes further

and asks “why not”?


Preserving the status quo does not arise and any attempt to do so is mercilessly

crushed. In simple words, every employee of the organization practices Kaizen, or

continuous improvement. The very fact that this happens is itself proof enough that

the organization is pro-active.

CAREER MAPPING
Career planning is the process of evolving strategies to develop the needs of

individual and employees so that they can be prepared for higher positions and also

match the organizational needs. It exposes the individual employee to the potential

“what he can be in future” if his expectations and performance match the

organizational expectations. Career Planning also opens the avenues for the

individual employees for self-development on their own initiatives with the facilities

provided by the organization

The systems of career planning and succession planning may seem to be complicated

since complex factors like individual aspirations, personal needs, divergent views and

attitudes are involved. If these systems are sincerely tried, to some extent the

potential executives will be self-motivated and this motivation could be transferred on

to the organization so as to achieve its goals. Modern professional and managerial

skills may become outmoded due to technological developments in new area of skill

requirements. Hence, development of skills in continuum to meet the growing needs

of future organization seems extremely essential.

The career-planning horizon should be continuous till the employee inducted at a

particular level and post leaves the organization on retirement. The process should be

properly linked with manpower assessment, manpower, planning, manpower

inventory and well-defined promotion policies.


The key components in the Career Planning system could be identified as:

1. Interest inventory of individuals, which described what every individual wants to

be in the future organization.

2. Motivating the individuals to have career goals to come in line with organizational

goods. For this the expectations interviews need to be conducted by the

management covering all sections of executives.

3. Established manpower assessment, manpower planning, and manpower inventory

and promotion policies based on projected Corporate Planning activities.

4. Proper system to measure the career progress of individuals in terms of

psychological success, personnel development and achievements and fulfilling the

organizational goals.

5. Policies to develop plans for the posts, which have restricted career movement.

The main factors that influence the development of career planning systems both at

individual and organization levels may be:

1. Corporate plans and policies on diversification activities.

2. Establishing and updating proper systems for manpower assessment, manpower

planning, manpower planning, manpower inventory, interest inventory,

expectation inventory and integrating them with career planning.

3. Due to changing roles of organizations, identification of potential in new

managerial realms in high technology, technology transfer, computerized

production and operations management.


4. Designing systems to develop and inculcate new dimensions like entrepreneurial

skills, corporate team building and motivation and large scale project

management.

5. Opportunity and need to develop multi-disciplinary careers.


ANCILLARY EMPLOYEE SATISFACTION STRATEGIES
The quality of the supervision an employee receives is critical to employee retention.

People leave managers and supervisors more often than they leave companies or jobs.

It is not enough that the supervisor is well liked or a nice person, starting with clear

expectations of the employee, the supervisor has a critical role to play in retention.

Anything the supervisor does to make an employee feel unvalued will contribute to

turnover. Frequent employee complaints center on these areas.

 Lack of clarity about expectations,

 Lack of clarity about earning potential,

 Lack of feedback about performance,

 Failure to hold scheduled meetings, and

 Failure to provide a framework within which the employee perceives he can

succeed.

The ability of the employee to speak his or her mind freely within the organization is

another key factor in employee retention., if employees offer ideas, feel free to

criticize and commit to continuous improvement. If not, they bite their tongues or find

themselves constantly "in trouble" - until they leave. Talent and skill utilization is

another environmental factor your key employees seek in r workplace. A motivated

employee wants to contribute to work areas outside of his specific job description.

The perception of fairness and equitable treatment is important in employee retention.

Your best employees, those employees you want to retain, seek frequent opportunities

to learn and grow in their careers, knowledge and skill. Without the opportunity to try
new opportunities, sit on challenging committees, attend seminars and read and

discuss books, they feel they will stagnate. A career-oriented, valued employee must

experience growth opportunities within organization.

No matter what the circumstances are but never, ever threaten an employee's job or

income this makes employees nervous and disloyal. Staff members must feel

rewarded, recognized and appreciated in the organization.


EMPLOYEE SATISFACTION & RETENTION
PRACTICES IN YES BANK

Group Medi-claim Insurance Scheme: This insurance scheme is to provide

adequate insurance coverage of employees for expenses related to hospitalization due

to illness, disease or injury or pregnancy in case of female employees or spouse of

male employees. All employees and their dependent family members are eligible.

Dependent family members include spouse, non-earning parents and children above

three months

Personal Accident Insurance Scheme: This scheme is to provide adequate insurance

coverage for Hospitalization expenses arising out of injuries sustained in an accident.

This covers total / partial disablement / death due to accident and due to accidents.

Subsidized Food and Transportation: Yes Bank provides transportation facility to

all the employees from home till office at subsidized rates. The lunch provided is also

subsidized.

Company Leased Accommodation: Yes Bank provides Company leased

accommodation for all the out station employees, the purpose is to provide to the

employees to lead a more comfortable work life balance.

Corporate Credit Card: The main purpose of the corporate credit card is enable the

timely and efficient payment of official expenses which the employees undertake for

purposes such as travel related expenses like Hotel bills, Air tickets etc
Cellular Phone / Laptop: Cellular phone and / or Laptop are provided to the

employees on the basis of business need. The employee is responsible for the

maintenance and safeguarding of the asset.

Personal Health Care (Regular medical check-ups): Yes Bank provides the facility

for extensive health check-up. For employees with above 40 years of age, the medical

check-up can be done once a year.

Educational Benefits: Yes Bank have this policy to develop the personality and

knowledge level of their employees and hence reimburses the expenses incurred

towards tuition fees, examination fees, and purchase of books subject, for pursuing

MBA, and/or other management qualification at India's top most Business Schools.

Performance based incentives: Yes Bank has plans for, performance based incentive

scheme. The parameters for calculation are process performance i.e. speed, accuracy

and productivity of each process.

Flexi-time: The main objective of the flextime policy is to provide opportunity to

employees to work with flexible work schedules and set out conditions for availing

this provision. Flexible work schedules are initiated by employees and approved by

management to meet business commitments while supporting employee personal life

needs.

Regular Get together and other cultural programs: Yes Bank organizes cultural

program as and when possible but most of the times, once in a quarter, in which all

the employees are given an opportunity to display their talents in dramatics, singing,

acting, dancing etc.


Employee Referral Scheme: In Yes Bank employee referral scheme is implemented

to encourage employees to refer friends and relatives for employment in the

organization.
CHAPTER – 3

OBJECTIVE &

METHODOLOGY
OBJECTIVES OF THE STUDY

OBJECTIVES OF MY STUDY

 To assess the satisfaction level of the employees of Yes Bank

 To study the major reasons of employee dis-satisfaction in Yes Bank

 To examine the factors causing satisfaction/dissatisfaction in employees working

in Yes Bank

SCOPE OF THE STUDY

My study will include the employees of Yes Bank


RESEARCH METHODOLOGY

A Research Methodology defines the purpose of the research, how it proceeds, how to

measure progress and what constitute success with respect to the objectives

determined for carrying out the research study.

The appropriate research design formulated is detailed below.

Exploratory research: this kind of research has the primary objective of development

of insights into the problem. It studies the main area where the problem lies and also

tries to evaluate some appropriate courses of action.

The research methodology for the present study has been adopted to reflect these

realties and help reach the logical conclusion in an objective and scientific manner.

The present study contemplated an exploratory research.

SAMPLING DESIGN

Sampling unit: Employees in Yes Bank

Sample size: 40 employees


DATA COLLECTION

Sources of data: 1) Primary Data will include the input received

from directly the employees through

questionnaire and interview

2) Secondary data will be collected from the HR

manual, policy manuals, books and internet etc.

Method of collecting data: Questionnaire schedule) & Interview method

STATISTICAL TOOL USED

The data will be shown with the help of matrix table and bar diagrams.
CHAPTER – 4

DATA ANALYSIS
DATA ANALYSIS

(As per employees feedback)

Ques1 Since how long are you working in this organization?

1. Below 3 Years

2. Between 3-6 Years

3. Above 6 Years

Response

Options Response
Below 3 Years 30%
Between 3-6 Years 40%
Above 6 Years 30%

INTERPRETATION

The response shows that most of the employees are working in this organization since

past 3-6 Years.

Ques2 Are you satisfied with your current job?


 Yes

 No

 Can’t say

Response

Options Response
Yes 40%
No 60%

INTERPRETATION

The response shows that most of the employees are not satisfied with their current

job.
Ques3 If no, why (please rank)

 Low salary

 No personal life

 No growth opportunities

 Policies and procedure not conductive

 Uneasy relationship with peers or managers

 Others

Response

Options Response
Low salary 0%
No personal life 0%
No growth opportunities 0%
Policies and procedure not conductive 20%
Uneasy relationship with peers or 10%

managers
Others 70%

Response

70%
10%
Policies and procedure not
20%
conductive 0% Response
0%
Low salary0%
0% 20% 40% 60% 80%

INTERPRETATION
The response shows that the reason of dissatisfaction of employees is some other than

above-mentioned reasons. But they also don’t want to disclose the reason for the

same.
Ques4 Are you looking/ planning for any change?

 Yes

 No

 Can’t say

Response

Options Response
Yes 50%
No 20%
Can’t say 30%

INTERPRETATION

The response shows that about 50% of employees are planning for change. It shows

that they are not quite satisfied with their job.

Ques5 According to you what are the reasons of resigning from job?

 Low salary

 Bad employment practices


 Bad experience with peers

 Lucrative opportunities from other companies

 Lack of social life

 Others

Response

Options Response
Low salary -
Bad employment practices 12.5%
Bad experience with peers -
Lucrative opportunities from other 43.2%

companies
Lack of social life 5.8%
Others 12.5%

Response

50%
43.20%
40%

30%

20% Response
12.50% 12.50%
10%
5.80%
0% 0% 0%
0 2 4 6 8
-10%

INTERPRETATION
The response shows that the main reason behind leaving the job is lucrative

opportunities from other companies. And the minor reason is lack of social life. And

rest employees don’t want to reveal the reasons for resigning the job.
Ques6 Does the organization takes initiative in retaining employees?

 Yes

 No

 Can’t say

Response

Options Response
Yes 50%
No 0%
Can’t say 50%

50%

Can’t say
0%
Response No
50% Yes

0% 10% 20% 30% 40% 50%

INTERPRETATION

The response shows that 50% of employees are in the favor of organization that they

takes initiative to retain employees and rest 50 % can’t say anything about retaining

employees.
Ques7 If yes what efforts they make?

 Offer salary hike

 Offer training and development programs for career

 Offer a promotion

 Provides flexible work hours

 Opportunities for international travel

 Provides assistance in case of personal problems

 Others

Response

30% i) Offer salary hike


30%

25% ii) Offer training and


25% development programs
for career
iii) Offer a promotion
20%

15% iv) Provides flexible


15% work hours
10% 10% v) Opportunities for
10%
international travel

vi) Provides
5%
assistance in case of
0% 0% personal problems
0% vii) Others
response

INTERPRETATION

The analysis shows that organization provides salary hike to its employees to retain

them.
Ques8 Are you satisfied with the facilities provided by the organization?

 Yes

 No

 Can’t say

Response

Options Response
Yes 50%
No 30%
Can’t say 20%
Response

20%

Yes
50% No
Can’t say
30%

INTERPRETATION

The response shows that about 50% of employees are satisfied with the facilities

provided by the organization and 30% are not satisfied and rest can’t say about the

same.

Ques9 How frequently you are been rewarded/ praised by your boss?

 Once in a month
 Once in 2-3 months

 More than 3 months

 On achieving the targets

Response

Options Response
Once in a month 10%
Once in 2-3 months 30%
More than 3 months 20%
On achieving the targets 40%

INTERPRETATION

The response shows that majority of the employees say that they are awarded/ praised

by their boss on achieving the targets.

Ques10 Does the organization provide you with training programs if

required?

 Yes

 No

 Can’t say
Response

Options Response
Yes 60%
No 10%
Can’t say 30%

INTERPRETATION

About 60% employees say that they are provided with the training programs and 30%

can’t say anything about it.

Ques11 Does the company provide any assistance during employee’s personal

problem?

 Yes

 No

 Can’t say

Response

Options Response
Yes 30%
No 20%
Can’t say 50%

INTERPRETATION

The response shows that about 50% of employees do not want to share their

experience in this regard, which silently indicates dissatisfaction among the target

employees

Ques12 If yes, what kind of help do they provide?

 Financial help

 Paid leave

 Counseling

 Others

Response

Options Response
Financial help 0%
Paid leave 25%
Counseling 25%
Others 20%
Response

can't say 30%

Others 20%

Counseling 25%
Response
Paid leave 25%

Financial help 0%

0% 5% 10% 15% 20% 25% 30%

INTERPRETATION

The response shows that some of them are provided with paid leave and some with

counseling but maximum of them can’t say anything about it, important to note that

none accepted that the the company gives financial help to the employees (cause of

dissatisfaction)

Ques13 Do you find opportunity for direct communication with

management?

 Yes

 No

Response

Options Response
Yes 70%
No 30%
INTERPRETATION

About 70% of employee’s finds opportunity for direct communication with

management and rest 30% don’t find it.

Ques14 Does the organization provides you career development programs?

 Yes

 No

 Can’t say

Response

Options Response
Yes 60%
No 20%
Can’t say 20%
Response

20%

Yes
No
Can't say
20% 60%

INTERPRETATION

About 60% response was in the favor of organization that they provide career

development programs to them. And 20% of response was against the organization

and rest 20% can’t say anything about it.

Ques16 Does the organization involve employee’s families in social functions?

 Yes

 No

Response

Options Response
Yes 70%
No 30%
Response

80%
70%
60%
50%
40% Response
70%
30%
20%
30%
10%
0%
Yes No

INTERPRETATION

The response shows that about 70% of employees say that the organization involves

their families in social functions and rest were against the same.

Ques17 Does the organization provides you with recreational facilities?

 Yes

 No

Response

Options Response
Yes 60%
No 40%
INTERPRETATION

The response shows that about only 60% of employees says that the organization

provides them recreational facilities, the remaining 40% dont avial these facilities

(cause of dissatisfaction)
Ques19 Does the organization give importance to physical fitness of an

employee?

 Yes

 No

 Can’t say

Response

Options Response
Yes 60%
No 30%
Can’t say 10%

Response

Can’t say 10%

No 30%
Response

60%
Yes

0% 10% 20% 30% 40% 50% 60%

INTERPRETATION

The response shows that 60% of employees says that organization give importance to

physical fitness of employees.


Ques20 According to you how much importance does organization gives to the

following? (Please rate 1-5)

 Work standards

 Satisfaction of employees

Response

Options Response
Work standards 60%
Satisfaction of employee 40%

Response

70%
60% 60%
50%
40% 40%
Response
30%
20%
10%
0%
Work standards Satisfaction of employee

INTERPRETATION

The response shows that much importance is given to work standards rather than

satisfaction of employees.

Ques21 Do you find yourself comfortable with the organizational culture?


 Yes

 No

Response

Options Response
Yes 65%
No 35%

INTERPRETATION

The response shows that 65% of the employees find themselves comfortable with the

organizational culture, while the remaining 35% dont find the organisational climate

to be favourable

Ques22 Which of the following attributes does your organizational climate has?

 Openness

 Confrontation
 Trust

 Autonomy

 Proactive

 Authentication

 Collaboration

 Experimentation

Response

Options Response

Openness 16.25%

Confrontation 5.18%

Trust 31.18%

Autonomy 2.68%

Proactive 15.18%

Authentication 5.60%

Collaboration 2.68%

Experimentation 21.25%
Response

Experimentation
Collaboration Collaboration
Authentication
Proactive Proactive
Autonomy
Trust Trust Response
Confrontation
Openness Openness

0.00% 10.00% 20.00% 30.00% 40.00%


CHAPTER – 5

CONCLUSION

& IMPLICATIONS

FINDINGS
CONCLUSION & IMPLICATIONS

FINDINGS

According to analysis the main reasons for voluntarily leaving the job are

 Lucrative opportunities from other companies

 Bad employment practices

 Lack of social life.

 Lack of strategies that should be taken to reduce attrition rate

 Absence of lucrative opportunities within organization

 Non-Implementation of good employment practices

 Unfavourable environment within organization so that employees can enjoy their

work as well as social life.

 The main cause for reduction in number of employees is resignation.

Efforts made by organization to retain its employees are:

 salary hike

 training and development programs according to employee skills

 recreational facilities

 assistance in case of personal problems

 promotion.

 career development programs to retain as well as to motivate employees to work

efficiently in the organization.


[Note: The attrition cost of the organization is about Rs.27, 92,448per annum

(approx.)]

And finally

As employees are the bases for company so retention of employees is a major focus

for HR department. The management should identify the important factors that affect

retention and should take necessary measures to improve these. Also, the management

should take appropriate measure to identify the reasons of employee voluntarily leave.

Employee survey and exit interviews can be used for assessing the reasons of

employee voluntarily leave. HR interventions such as improving selection process,

effective orientation and training, better employee relation, better career development

programs and planning etc should be used to improve employee retention.


CHAPTER – 6

RECOMMENDATION
RECOMMENDATIONS

SUGGESTIONS

Following steps/ efforts should organization take to retain its employees:

 Lucrative opportunities must be created for the employees

 Implementing good employment practices

 Maintaining healthy organizational climate

 Proper training should be provided to employees according to their skills

 Proper salary structure should be there.

 Need to restructure company’s policy and follow certain process to overcome

problems.

 Should make a hierarchy for various positions.


LIMITATIONS

Time constraint- the duration of training was short due to which it was difficult to

collect data on a greater scale.

i) Employees hesitate to disclose the information.

ii) Employees wee busy in their work and they don’t show any interest in our

work.
CHAPTER – 7

BIBLIOGRAPHY
BIBLIOGRAPHY
Books

 Bhattacharya, Research Methodology, Publisher

 HR Manual, Policies & Procedures

Magazines & Journals

 HR Executive Editorial Survey (2008), Workplace Turnover Study, Human

Resource Executive Magazine

 Indian Management Magazine, Vol 44 Issue 1, Jan2007


CHAPTER – 8

APPENDIX
APPENDIX

QUESTIONNAIRE

1. Questionnaire Determining Attrition Rate (for the employees of

Yes Bank)

 Name_____________________________________________________

 Age______________________________________________________

 Sex_______________________________________________________

 Designation ________________________________________________

 Name of organization ________________________________________

(As per employees feedback)

Ques1 Since how long are you working in this organization?

 Below 3 Years

 Between 3-6 Years

 Above 6 Years

Ques2 Are you satisfied with your current job?

 Yes

 No

 Can’t say
Ques3 If no, why (please rank)

 Low salary

 No personal life

 No growth opportunities

 Policies and procedure not conductive

 Uneasy relationship with peers or managers

 Others

Ques4 Are you looking/ planning for any change?

 Yes

 No

 Can’t say

Ques5 According to you what are the reasons of resigning from job?

 Low salary

 Bad employment practices

 Bad experience with peers

 Lucrative opportunities from other companies

 Lack of social life

 Others

Ques6 Does the organization takes initiative in retaining employees?

 Yes

 No

 Can’t say
Ques7 If yes what efforts they make?

 Offer salary hike

 Offer training and development programs for career

 Offer a promotion

 Provides flexible work hours

 Opportunities for international travel

 Provides assistance in case of personal problems

 Others

Ques8 Are you satisfied with the facilities provided by the organization?

 Yes

 No

 Can’t say

Ques9 How frequently you are been rewarded/ praised by your boss?

 Once in a month

 Once in 2-3 months

 More than 3 months

 Never/Rare

 On achieving the targets


Ques10 Does the organization provide you with training programs if

required?

 Yes

 No

 Can’t say

Ques11 Does the company provide any assistance during employee’s personal

problem?

 Yes

 No

 Can’t say

Ques12 If yes, what kind of help do they provide?

 Financial help

 Paid leave

 Counseling

 Others

Ques13 Do you find opportunity for direct communication with management?

 Yes

 No
Ques14 Does the organization provides you career development programs?

 Yes

 No

 Can’t say

Ques16 Does the organization involve employee’s families in social functions?

 Yes

 No

Ques17 Does the organization provides you with recreational facilities?

 Yes

 No

Ques18 If yes, what kind of facilities do they provide?

 No response

Ques19 Does the organization give importance to physical fitness of an

employee?

 Yes

 No

 Can’t say

Ques20 According to you how much importance does organization gives to the

following? (Please rate 1-5)

 Work standards

 Satisfaction of employees
Ques21 Do you find yourself comfortable with the organizational culture?

 Yes

 No

Ques22 Which of the following attributes does your organizational climate has?

 Openness

 Confrontation

 Trust

 Autonomy

 Proactive

 Authentication

 Collaboration

 Experimentation

Ques: What motivates you work in this organization?

Ques: Comments, if any

_____________________________________________________________________

_____________________________________________________________________

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