CONTENTS

Page No.

CHAPTER-I INTRODUCTION
NEED FOR THE STUDY
OBJECTIVES OF THE STUDY
SCOPE OF THE STUDY

METHODOLOGY

LIMITATIONS
CHAPTER-II LITERATURE REVIEW

CHAPTER-III ORGANIZATION PROFILE

CHAPTER-IV DATA ANALYSIS

&
INTERPRETATION
IN BIGBAZAAR

CHAPTER-IV CONCLUSION

CHAPTER-V BIBLIOGRAPHY

QUESTIONNAIRE

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 CHAPTER-I
INTRODUCTION

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HUMAN RESOURCE MANAGEMENT

Human Resource Management (HRM) is the function with in an organization that

focuses or recruitment of, management of, and providing direction for the people who
work in the organization, human Resource Management can also by performed by line
managers.

Human Resource Management is the organizational function that deals with issues
related to people such as compensation, hiring, performance management, organization
development, safety, wellness, benefits, employee motivation, communication,
administration, and training.

Administrative activities associated with human resources planning, recruitment,

selection, orientation training, appraisal, motivation, remuneration, etc. Human Resource
Management aims at developing people through work.

 Organizations are not mere bricks, mortar, machineries or inventories. They are
people. It is the people who staff and manage organizations.

 HRM involves the application of management functions and principles. The

functions and principles are applied to acquisitioning, developing, maintaining,
and remunerating employees in organizations.

 Decisions relating to employees must be integrated. Decisions on different aspects

of employees must be consistent with other human resource (HR) decisions.

 Decisions made must influence the effectiveness of an organization. Effectiveness

an organization must result in betterment of services to customers in the form of
high-quality products supplied at reasonable costs.

 HRM functions are not confined to business establishments only. They are
applicable to non-business organizations, too, such as education, health care,
recreation, and the like.

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Introduction on Employee Retention:

Employee Retention involves taking measures to encourage employees to remain in the

organization for the maximum period of time. Corporate is facing a lot of problems in
employee retention these days. Hiring knowledgeable people for the job is essential for
an employer. But retention is even more important than hiring. There is no dearth of
opportunities for a talented person. There are many organizations which are looking for
such employees. If a person is not satisfied by the job he’s doing, he may switch over to
some other more suitable job.
In today’s environment it becomes very important for organizations to retain their
employees. The top organizations are on the top because they value their employees and
they know how to keep them glued to the organization. Employees stay and leave
organizations for some reasons. The reason may be personal or professional. These
reasons should be understood by the employer and should be taken care of. The
organizations are becoming aware of these reasons and adopting many strategies for
employee retention.

A. Compensation
B. Growth
C. Support
D. Relationship
E. Environment

A. Compensation
Compensation constitutes the largest part of the employee retention process. The
employees always have high expectations regarding their compensation packages.
Compensation packages vary from industry to industry. So an attractive

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 compensation package plays a critical role in retaining the employees.
Compensation includes
salary and wages, bonuses, benefits, prerequisites, stock options, vacations, etc.
While setting up the packages, the following components should be kept in mind:
Salary and monthly wage: It is the biggest component of the compensation package. It
is also the most common factor of comparison among employees. It includes

 Basic wage

 House rent allowance

 Dearness allowance
 City compensatory allowance

B.Growth
Growth and development are the integral part of every individual’s career. If an employee
can not foresee his path of career development in his current organization, there are
chances that he’ll leave the organization as soon as he gets an opportunity.

Work profile: The work profile on which the employee is working should be in
sync with his capabilities. The profile should not be too low or too high.

Personal growth and dreams: Employees responsibilities in the organization

should help him achieve his personal goals also. Organizations can not keep aside
the individual goals of employees and foster organizations goals. Employees’
priority is to work for them and later on comes the organization. If he’s not
satisfied with his growth, he’ll not be able to contribute in organization growth.

Training and development: Employees should be trained and given chance to

improve and enhance their skills. Many employers fear that if the employees are
well rained, they’ll leave the organization for better jobs. Organization should not

5
 limit the resources on which organization’s success depends. These trainings can
be given to improve many skills like:

 Communications skills

 Technical skills
 In-house processes and procedures improvement related skills
 C or customer satisfaction related skills
 Special project related skills

Need for such training can be recognized from individual performance reviews,
individual meetings, employee satisfaction surveys and by being in constant touch
with the employees.

C. Support

Lack of support from management can sometimes serve as a reason for Employee
retention. Supervisor should support his subordinates in a way so that each one of them is
a success. Management should try to focus on its employees and support them not only in
their difficult times at work but also through the times of personal crisis. Management
can support employees by providing them recognition and appreciation.

Employers can also provide valuable feedback to employees and make them feel valued
to the organization.

The feedback from supervisor helps the employee to feel more responsible, confident and
empowered. Top management can also support its employees in their personal crisis by
providing personal loans during emergencies, childcare services, employee assistance
programs, counseling services.

Employers can also support their employees by creating an environment of trust and
inculcating the organizational values into employees. Thus employers can support their
employees in a number of ways as follows:

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  By providing feedback

 By giving recognition and rewards

 By counseling them

 By providing emotional support

D.Relationship
Sometimes the relationship with the management and the peers becomes the reason for an
employee to leave the organization. The management is sometimes not able to provide an
employee a supportive work culture and environment in terms of personal or professional
relationships. There are times when an employee starts feeling bitterness towards the
management or peers. This bitterness could be due to many reasons. This decreases
employee’s interest and he becomes de-motivated. It leads to less satisfaction and
eventually attrition.

A supportive work culture helps grow employee professionally and boosts employee
satisfaction. To enhance good professional relationships at work, the management should
keep the following points in mind.
 Respect for the individual: Respect for the individual is the must in the
organization.
 Relationship with the immediate manager: A manger plays the role of a mentor
and a coach. He designs ands plans work for each employee. It is his duty to
involve the employee in the processes of the organization. So an organization
should hire managers who can make and maintain good relations with their
subordinates.
 Relationship with colleagues: Promote team work, not only among teams but in
different departments as well. This will induce competition as well as improve the
relationships among colleagues.

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  Recruit whole heartedly: An employee should be recruited if there is a proper
place and duties for him to perform. Otherwise he’ll feel useless and will be
dissatisfied. Employees should know what the organization expects from them
and what their expectation from the organization is. Deliver what is promised.
 Promote an employee based culture: The employee should know that the
organization is there to support him at the time of need. Show them that the
organization cares and he’ll show the same for the organization. An employee
based culture may include decision making authority, availability of resources,
open door policy, etc.
 Individual development: Taking proper care of employees includes
acknowledgement to the employee’s dreams and personal goals. Create
opportunities for their career growth by providing mentorship programs,
certifications, educational courses, etc.
 Induce loyalty: Organizations should be loyal as well as they should promote
loyalty in the employees too. Try to make the current employees stay instead of
recruiting new ones.
E. Environment

It is not about managing retention. It is about managing people. If an organization

manages people well, employee retention will take care of itself. Organizations should
focus on managing the work environment to make better use of the available human
assets.

People want to work for an organization which provides

 Appreciation for the work done

 Ample opportunities to grow

 A friendly and cooperative environment

 A feeling that the organization is second home to the employee

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Organization environment includes

 Culture

 Values
 Company reputation
 Quality of people in the organization
 Employee development and career growth
 Risk taking
 Leading technologies
 Trust

Types of environment the employee needs in an organization

 Learning environment: It includes continuous learning and improvement of the

individual, certifications and provision for higher studies, etc.

 Support environment: Organization can provide support in the form of work-life

balance. Work life balance includes:
o Flexible hours
o Telecommuting
o Dependent care
o Alternate work schedules
o Vacations
o Wellness

 Work environment: It includes efficient managers, supportive co-workers,

challenging work, involvement in decision-making, clarity of work and
responsibilities, and recognition.

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Lack or absence of such environment pushes employees to look for new opportunities.
The environment should be such that the employee feels connected to the organization in
every respect.

NEED FOR THIS STUDY

Employers have a need to keep employees from leaving and going to work for other
companies. This is true because of the great costs associated with hiring and retraining
new employees. The best way to retain employees is by providing them with job
satisfaction and opportunities for advancement in their careers. The saying, food help is
hard to find, is even truer these days than ever before because the job market is becoming
increasingly tight.

Objectives
 To study retention strategies used by organization to retain Employee Talent.
 To study the compensation/reward structure of the organization provided to the
employees.
 To study and Improve the level of employee satisfaction.
 To study the development practices adopted the organization.

Scope of the study

The study was focused on EMPLOYEE RETENTION since it is necessary to focus on

the levels of satisfaction by smooth functioning of organization are also to maintain and
retain employees for longer time. So the study encompasses both managerial and non-
managerial employees of Big Bazaar.

METHODOLOGY

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 Source of data:
The study is based on both Primary data and Secondary data
Primary data:

Primary data is collected through a well structured questionnaire circulated among

sample respondence and through personal interviews with them.

Personal discussions were held with the following officials to elicit relevant information
for the purpose of the study.

Secondary data:

Secondary data was sometimes collected from more than one source.

The secondary data is collected from the official records of the company, through
journals, websites etc.,

Sample Size:
Sample size is 100

LIMITATIONS

1. Study is mainly based on corporate data it may not full fill the need.

2. Limited knowledge about the study

3. Short duration of the study, the data presentation may not give the true picture.

4. The data may not be accurate

11
 CHAPTER-II
LITERATURE REVIEW

12
Literature Review:
A literature review is a body of text that aims to review the critical points of current
knowledge including substantive findings as well theoretical and methodological
contributions to a particular topic.
Employee Retention:
1. Employers have a need to keep employees from leaving and going to work for other
companies. This is true because of the great costs associated with hiring and retraining
new employees. The best way to retain employees is by providing them with job
satisfaction and opportunities for advancement in their careers (Eskildesen 2000,
Hammer 2000)
2. Employees that are satisfied and happy in with their jobs are more dedicated in doing a
good job and taking care of customers that sustain the operation. Job satisfaction is
something that working people seek and a key element of employee retention ( Marini
2000, Denton 2000)
3. Research has shown that there may be many environmental features that can be created
and maintained to give employees job satisfaction. Pay and benefits, communication,
motivation, justice and leisure time all seem to play a part as to weather employees are
satisfied with their jobs, according to studies which helps to retain employees. (Brewer
2000, Employee 2000: Money 2000; Wagner 2000).
4. The employees are extremely crucial to the organization since their value to the
organization is essentially intangible and not easily replicated Meaghan et al (2002).
Therefore, managers must recognize that employees as major contributors to the efficient
achievement of the organization’s success (Abbasi et al. (2000)).
5. Employee engagement, the organization’s capacity to engage, retain, and optimize the
value of its employees hinges on how well jobs are designed, how employees’ time is
used, and the commitment and support that is shown to employees by the management
would motivate employees to say in organization’s (Johnson et al (2000)).

6. Knowledge accessibility, the extent of the organization’s collaborativeness and its

capacity for making knowledge and idea widely available to employees, would make
employees to say in the organization. Sharing of information should be made at all levels

13
of management. This accessibility of information would lead to strong performance from
the employees and strong corporate culture Meaghan et al. (2002).
7. Workfore optimization, the organisation’s success in optimizing the performance of
the employees by establishing essential processes for getting work done, providing good
working conditions, establishing accountability and making good hiring choices would
retain employees in their organization. (Badawy, 1988; Basta and Johnson, 1989; Garden,
1989; parden, 1981; Sherman,1986).

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 CHAPTER-III
INDUSTRY PROFILE

15
INDUSTRY PROFILE

Retailing

Retailing is the transaction between the seller and consumer for personal

consumption. It is does not include transaction between the manufacturer,

corporate purchase, government purchase and other wholesale purchase. A

retailer stocks the goods from the manufacturer and then sells the same to the

end user for a marginal profit.

Introduction
Retailing involves all activities incidental to selling to ultimate consumer

for their personnel family and household use. It does this by organizing their

availability on a relatively large scale and supplying them to a customer on a

relatively small scale. Retailer is any person/organization instrumental in

reaching the goods or merchandise or services to the end users. Retailer is a

must and cannot be eliminated.

The Indian retailing industry is becoming intensely competitive, as more

and more payers are Vying for the same set of customers. The major retail

players are Pantaloon Retail, Shoppers Stop, Reliance, etc..,

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Retail Industry in India:

Challenges Opportunities and Strategies

Retailing is one of the biggest sectors and it is witnessing revolution in

India. The new entrant in retailing in India signifies the beginning of retail

revolution. India's retail market is expected to grow tremendously in next few

years. According to AT Kearney, The Windows of Opportunity shows that

Retailing in India was at opening stage in 1995 and now it is in peaking stage in

2006. India's retail market is expected to grow tremendously in next few years.

India shows US$330 billion retail market that is expected to grow 10% a year,

with modern retailing just beginning. India ranks first in 2005. In fact, in 2005

and 2006, India is the most compelling opportunity for retailers, because now

India is in peaking stage. This window of opportunity is useful for executives

who plan their market-specific strategies; the four stages or the lifecycle of this

industry is as as follows:

A. Introduction:

Strategy suggested: A rapid penetration strategy is suggested at this Stage i.e.

low price and high promotion.

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B. Growth:

The strategy of adopting quality and styled products with new models and

shift of advertising from product awareness to product preference Eg ; the big

bazaar advertisement says surf excel is cheaper than the market price. The idea

behind adopting strategy is to strengthen against competitors

C . Maturity:

Enter new market segments that is either enter new geographic areas e.g.

;vishal megha mart has opened stores in smaller cities tier II and III cities

Decline:

The window of opportunity is closing fast and modern retail share is reaching

40 to 60 percent. Though the opportunity is closing the existing retailers can

enter with new formats such as discount models or non-food formats such as

consumer electronics and apparel.

Window of opportunity ends for about 5 to 10years before a market

enters the closing phase and reaches saturation level. India for example, was in

the opening stage in 1995 and entered peaking stage in the year 2003 and

reached number 1 rank in2005.

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 PRESENT INDIAN SCENARIO
* unorganized market: Rs. 583,000 crores

* Organized market: Rs.5, 000 crores

* 5X growth in organized retailing between 2000-2005

* Over 4,000 new modern Outlets in the last 3 years

* Over 5,000,000 sq. ft. of mall space under development

* The top 3 modern retailers control over 750,000 sq. ft. of retail space

* Over 400,000 shoppers walk through their doors every week

Growth drivers in India for retail sector

• Rising incomes and improvements in infrastructure are enlarging Consumer

markets and accelerating the convergence of consumer tastes.

• Liberalization of the Indian economy

• Increase in spending Per capita Income.

• Advent of dual income families also helps in the growth of retail

Sector.

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 • Shift in consumer demand to foreign brands like McDonalds, Sony,

Panasonic, etc.

• Consumer preference for shopping in new environs

• The Internet revolution is making the Indian consumer more Accessible to

the growing influences of domestic and foreign retail Chains. Reach of satellite

T.V. channels is helping in creating awareness about global products for local

markets.

• About 47% of India's population is under the age of 20; and this will

increase to 55% by 2015. This young population, which is Technology- savvy,

watch more than 50 TV satellite channels, and display the highest propensity to

spend, will immensely contribute to the growth of the retail sector in the

country.

• Availability of quality real estate and mall management practices

• Foreign companies' attraction to India is the billion-plus Population.

Scope in retailing

Retail is clearly the sector that is poised to show the highest growth in the next

five years. The sector is set for a revolution, as both the present players and new

20
 entrants are gearing up to explore the market. This sector contributes 10% of

India's GDP and the current growth rate is 8.5%.

The present size of the organized retailing sector is approximately 3% and is

expected to grow to 25-30% by the year 2010. There are about 300 new malls,

1500 supermarkets and 325 departmental stores currently under construction.

Many players are coming up with huge investments, due to which the present

12 million mom-and-pop shops and kirana stores fear losing their business. Most

predictions say that the sector might reach to US$ 400-600 billion by the year 2010.

Global retail giants such as Wal-Mart, Tesco, Germany's Metro AG and

many others are ready to enter the retail markets. The rising demand of branded

products and increase in purchasing power has lured these companies to enter the

market.

Leading Indian Retailers

Bata India Ltd, Big Bazaar, Crossword, Ebony Retail Holdings Ltd., Food

Bazaar, Globus Stores Pvt. Ltd., Liberty shoes Ltd., Music World Entertainment

Ltd., Pantaloon Retail India Ltd., Shoppers Stop, Subhiksha, Titan Industries,

Trent and the new entrants penetrating the market soon will include Reliance

Retail Ltd, Wal-Mart Stores etc

Employment opportunities in retail sector in India

21
India's retail industry is the second largest sector, after agriculture, which

provides employment. According to Associated Chambers of Commerce and

Industry of India (ASSOCHAM), the retail sector wills Create 50,000 jobs in

next few years. Retail companies are starting retail management courses in

Partnership with management institutes, roping in talent from other Sectors and

developing comprehensive career growth and loyalty Plans for existing

employees. Top players like Pantaloon Retail India Limited, Trent, Shopper's

Stop, RPG Group and ebony are virtually on their toes.

Consider the plans of largest player, The Pantaloon Retail India Ltd, The

company has developed a comprehensive strategy, where in it Expects that in

2years, it will not recruit any new managers from outside. Trent has also started

in-house learning programs and now goes to under graduate colleges to recruit

students. Since, the job market is hugely receptive to this with more and more

business schools focusing on the sector and large retailers setting up retail

academics.

Challenges of Retailing in India

In India the Retailing industry has a long way to go, and to become a truly

flourishing industry, retailing needs to cross the following hurdles:

* The first challenge facing the organized retail sector is the competition from

unorganized sector.

22
 * In retail sector, Automatic approval is not allowed for foreign investment

* Taxation, which favors small retail businesses.

* Developed supply chain and integrated IT management is absent in retail sector.

* Lack of trained work force.

* Low skill level for retailing management.

* Intrinsic complexity of retailing- rapid price changes, threat of product

obsolescence and low margins.

* Organized retail sector has to pay huge taxes, which is negligible for small retail

business.

*Cost of business operations is very high in India.

Retail Marketing & Sales Promotion

Retail marketing plans, sales promotion ideas, branding and advertising

resources for retailers. Learn how to use loss leaders, media buys and sales events

to the benefit of your retail store. Select a newspaper to advertise in, create an

effective ad and understand newspaper rate cards.

a. Advertising for Retailers

Learn how to properly buy advertising, where to advertise your business and

what forms of advertising work best for the retail store. Affordable ways to

23
advertise in newspapers, use direct mail, billboards, television, radio, and the

Internet

b. Merchandising

In retail, merchandising is the practice of making products in stores available

to consumers, primarily by stocking shelves and displays. Use these

merchandising resources to learn how to create an attractive display, get tips for

product placement and receive other retail merchandising advice.

c. Private Label Branding

Learn the definition of private label branding, find out where to buy private label

products to sell in your store, and better understand the private labeling concept

with these resources.

Retail Signage - Digital Signage - Store Signs

Learn more about the effective use of retail signage, the benefits of digital

signage and other promotional signs. This category covers neon signs, billboards,

digital signage systems and other retail store signage.

Using Press Releases

Writing and sending a press release is an excellent way to get the word out about

your retail store. Here are paid and free press release services, press release best

practices and other retail marketing ideas using press releases.

Retail Strategy

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Strategic retail planning and repositioning

 End their retail propositions

 Plan and develop new retail formats and channels

 Plan effective retail store roll-out strategies

 Prioritize new retail markets and define how to enter them

 Evaluate and execute new retail ventures and acquisitions

 Develop retail business plans and financial projections

Retail performance improvement

By deploying experienced professionals in retail strategy, range an Improve and

exited supply chain management, retail technology, multi-channel retailing and

store roll-out, we deliver strong, practical recommendations to drive trading

improvements and operating efficiencies, resulting in quick wins as well as long

term financial benefit. Some of the questions we have addressed recently

include

 How can we make our retail proposition more appealing and Competitive

 How can we manage our product range and stock most effectively to drive

sales and free working capital?

 How do we optimize our store portfolio and store roll out Programmer

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  How do we realize our multi-channel potential (including online/

catalogue)?

 Which supply chain improvements will drive sales and/or free working

capital?

 How do we improve our management of shelf space to drive sales?

 How do we improve our management of store operations to save costs and

drive sales?

3.2 Future group

Introduction

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of

India’s leading business houses with multiple businesses spanning across the

consumption space. While retail forms the core business activity of Future Group,

group subsidiaries are present in consumer finance, capital, insurance, leisure and

entertainment, brand development, retail real estate development, retail media and

logistics Led by its flagship enterprise, Pantaloon Retail, the group operates over 12

million square feet of retail space in 71 cities and towns and 65 rural locations across

India

Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000

people and is listed on the Indian stock exchanges. The company follows a multi-

format retail strategy that captures almost the entire consumption basket of Indian

26
customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail

chain and Central, a chain of seamless malls. In the value segment, its marquee brand,

Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian

bazaars with the choice and convenience of modern retail

FUTURE VALUE BRANDS

 The Future Group has built a strong portfolio of some of the fastest Growing

consumer brands in India.

 This activity is led through Future Brands India Limited, a specialized

subsidiary company that was set up to create and build powerful brands that

address the aspirations of the new Indian consumer

 Some of the key brands in this portfolio include, John Miller, Lombard,

Bare, DJ&C, Buffalo and RIG in the fashion and apparel space. Dream line,

present in the home segment, offers a wide range of products in kitchenware,

bed & bath linen, and Home Décor categories. In the food and home care

segment brands include Tasty Treat, Premium Harvest, Fresh & Pure, Care

Mate and Clean Mate. In consumer durables and electronics space, the

group’s brands include Koryo and Sensei. Indianness: confidence in ourselves

 Leadership: to be a leader, both in thought and business

 Respect & Humility: to respect every individual and be humble in our country

Future group firms

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 Pantaloon Retail (India) Limited

 Home Solutions Retail India Limited

 Future Brands Limited

 Future Media (India) Limited

 Future Supply Chain Solutions Limited

 Convergem Communication (India) Limited

 Pantaloon Food Product (India) Limited

 Future Knowledge Services Limited

 Future Capital Holdings Limited

 Future General India Insurance Company Limited

 Future General India Life Insurance Company Limited

 Future bazaar India Limited

 Winner Sports Private Limited

 Staples Future Office Products Private Limited

 Talwalkars Pantaloon Fitness Private Limited

 Indus League Clothing

 Galaxy Entertainment Corporation Ltd

 Future Consumer Products Limited

 Future Ventures India Limited

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 CHAPTER-III
COMPANY PROFILE

29
Company Profile:

      Big Bazaar is not just another hypermarket. It caters to every need of your family.
Where Big Bazaar scores over other stores is its value for money proposition for the
Indian customers.

Big Bazaar is a chain of hypermarket in India. As of June 2, 2012 there are 214 stores
across 90 cities and towns in India covering around 16 million sq.ft. of retail space.
Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters
offering a wide range of merchandise including fashion and apparels, food products,
general merchandise, furniture, electronics, books, fast food and leisure and
entertainment sections.

Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand
Factory, Pantaloons, eZONE, HomeTown, futurebazaar.com, KB's Fair Price to name
a few and is owned through a wholly owned subsidiary of Pantaloon Retail India
Limited(BSE: 523574 523574), that is listed on Indian stock exchanges.

History

Big Bazaar was launched in September, 2001 with the opening of its first four stores
in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years,
there are now 161 Big Bazaar stores in 90 cities and towns across India. By September
2012 BIG BAZAAR will have two more stores in North east namely SILCHAR and
JORHAT in Assam.

Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of
Pantaloon Retail India. Though Big Bazaar was launched purely as a fashion format
including apparel, cosmetics, accessory and general merchandise, over the years Big
Bazaar has included a wide range of products and service offerings under their retail
chain. The current formats includes Big Bazaar, Food Bazaar, Electronic Bazaar and

30
 Furniture Bazaar. The inspiration behind this entire retail format was from Saravana
Stores, a local store in T. Nagar, Chennai

The stores are customized to provide the feel of mandis and melas [2] while offering the
modern retail features like Quality, Choice and Convenience. As the modern Indian
family's favorite retail store, Big Bazaar is popularly known as the "Indian Walmart".

On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar
has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the
earlier one: 'Isse Sasta Aur Accha Kahin Nahin'. [3]

Strategy

3-C Theory

According to Kishore Biyani's 3-C theory, Change and Confidence among the entire
population is leading to rise in Consumption, through better employment and income
[4]
which in turn is creating value to the agricultural products across the country. Big
Bazaar has divided India into three segments:

India one: Consuming class which includes upper middle and lower middle class (14%
of India's population).

India two: Serving class which includes people like drivers, household helps, office
peons, liftmen, washermen, etc. (55% of India's population) and

India three: Struggling class (remaining 31% of India's population).

While Big Bazaar is targeted at the population across India one and India two
segments, Aadhaar Wholesale is aimed at reaching the population in India three
segment. With this, Future Group emerged as a retail destination for consumers across
all classes in the Indian society.

31
Operations

The Big Bazaar Store in Nagpur.

Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city
centers as well as within shopping malls. These stores offer over 200,000 SKUs in a
wide range of categories led primarily by fashion and food products.

Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is
now present within every Big Bazaar as well as in independent locations. A typical
Big Bazaar is spread across around 50,000 square feet (4,600 m2) of retail space.
While the larger metropolises have Big Bazaar Family centres measuring between
75,000 square feet (7,000 m2) and 160,000 square feet (15,000 m2), Big Bazaar
Express stores in smaller towns measure around 30,000 square feet (2,800 m2).

Big Bazaar has the facility to purchase products online through its official web page,
and offers free shipping on some of their products.[5]

Values & Cultures

Our Values

We acknowledge that every individual brings different perspectives and capabilities to

the team and that a strong team comes together with a variety of perspectives. What hold
them together are the core values that lay the foundation of this strength. Through the
entire chain of Future Group we identify these values with what is called The Future
Group Gene.

32
  Indianness: Confidence in ourselves.
 Leadership: To be a leader, both in thought and business.
 Respect & Humility: To respect every individual and be humble in our conduct.
 Introspection: Leading to purposeful thinking.
 Openness & Transparency: To be open and receptive to new ideas, knowledge
and information.
 Valuing and Nurturing Relationships: To build long term relationships.
 Simplicity & Positivity: Simplicity and positivity in our thought, business and
action.
 Adaptability: To be flexible and adaptable, to meet challenges.
 Flow: To respect and understand the universal laws of nature.

We Love to rewrite rules, even as we retain our values.

Culture

We work in an environment where the deadlines are tighter and the jubilations even more
exciting. We like to maintain this energy we've got going on, so we make sure to bring on
board exactly the right people. Everyone here has a range of amazing (and often hidden)
talents and creative interests.

TeamKashyap Deorah

President

Kashyap heads Future Bazaar. Prior to this, Kashyap

founded Chaupaati Bazaar after returning to India in Nov 2007. Chaupaati enabled Indian

33
consumers to purchase products and services by phone. In Sep 2010, Chaupaati merged
into India's largest retailer Future Group.

Earlier, Kashyap started the US office of Geodesic (NSE: 503699) in the capacity of VP,
Business Development doing online affiliate sales in North America and mobile OEM
sales in Taiwan & China. Kashyap was an early employee at Jasper Design Automation.
Besides naming the company, he made contributions to the sales campaigns for key
customers and prospects in North America and Northern Europe. While a final year
student at IIT Bombay, Kashyap co-founded Righthalf, the first campus start-up as part
of the IIT Bombay Business Incubator. After a successful acquisition of Righthalf by
Stratify, he moved to the Silicon Valley in late 2000. Since then, he has worked with
high-tech startups doing sales, business development and product management.

Kashyap graduated from IIT Bombay in 2000 with a B. Tech. in Computer Science and
Engineering. Kashyap loves traveling, snowboarding, bungee jumping and climbing
mountains.

Gaurav Agarwal
Marketing

Gaurav heads marketing at Future Bazaar. As the head of marketing, Gaurav is in-charge
of online traffic, marketing affiliates and vendor program.

Gaurav has led many roles in early stage to growth phase startups often working in
companies with less than 30 employees. His last stint was with Amar Chitra Katha where
he created the New Media Division from scratch and grew the spread of ACK Comics to
all platforms. Prior to ACK, he has worked in the microfinance technology sector and
even attempted a startup in the complex event processing space.

Gaurav graduated from IIT Bombay in 2003 with an B. Tech and M. Tech. in Micro
Electronics.

34
            The Big Bazaar is one such department store to have

set up shop across the country. Since its first outlet opened in

Kolkata in late 2001, the Big Bazaar has spread to towns and

cities at an alarming rate. Currently 106 outlets

      These multi-level shopping meccas stock everything from

food to fridges, and cookware to clothes. However, the Big

Bazaar isn't your ordinary department store. It's been

especially designed to appeal to the Indian consumer.

            Big Bazaar With a slogan of "Is se sasta aur accha kahin nahi!"

("Nowhere cheaper or better than this!"), the Big Bazaar targets itself directly at

the average Indian's love of following the crowd and scrambling for a good

discount.

Parent-Pantaloon Retail India Ltd

Pantaloon Retail (India) Limited, is India’s leading retailer that operates multiple

retail formats in both the value and lifestyle segment of the Indian consumer

market.

Headquartered in Mumbai (Bombay), the company operates over 12 million

square feet of retail space, has over 1000 stores across 71 cities in India and

employsover30,00people.  

The company’s leading formats include Pantaloons, a chain of fashion outlets, 

35
Big Bazaar, a uniquely Indian hypermarket chain, Food Bazaar, a supermarket

chain, blends the look, touch and feel of Indian bazaars with aspects of modern

retail like choice, convenience and quality and Central, a chain of seamless

destination malls. Some of its other formats include Brand Factory, Blue Sky, all,

Top 10 and Star and Sitara. The company also operates an online portal,

futurebazaar.com.  

   A subsidiary company, Home Solutions Retail (India) Limited, operates

Home Town, a large-format home solutions store, Collection i, selling home

furniture products and e Zone focused on catering to the consumer electronics

segment.  

Pantaloon Retail was recently awarded the International Retailer of the Year

2007 by the US-based National Retail Federation (NRF) and the Emerging Market

Retailer of the Year 2007 at the World Retail Congress held in Barcelona.

Target Audience

Big Bazaar targets higher and upper middle class customers, the large and

growing young working population is a preferred customer segment, Big Bazaar

specifically targets working women and home makers who are the primary

decision makers.

36
Product mix

Denims& t-shirts Fabrics& cut pieces Formal wear Casual wear Party wear

Ethnic wear Accessories Under garments Night wear Dress material Saris Staples

Ready to eat Ready to cook International food Spices Imported bazaar Tea&

coffee Fruits Vegetables Imported fruits Dairy products Soft drinks Packaged

juices Milk item Frozen foods Ice creams Shampoos Detergents Soaps Liquid

wash creams deodorants Home cleaners utensils plastics crockery

Pricing

Value pricing (EDLP) Promotional pricing ,low interest financing

,psychological discounting, special event pricing Differentiated pricing ,time

pricing, Bundling.

Place-store locations

Initially identifies future/ potential development areas, acquire such areas at an

early phase before the real estate value booms, and located at high traffic areas.

Promotion

 “ Saal ke Sabse Saste 3 Din”

37
  Future card(3% discount)

 Shakti card

 Advertising(print ads, TV ads, radio)

 Brand endorsement by M.S DHONI

 Exchange offer

 Weekend discounts

 Point of purchase promotions

 ` Junk' swap offer- “Exchange anything

E-tailing

To overcome location disadvantage- launched a merchandise retailing

website www.futurebazaar.com which targets high-end customers ready to use

credit cards. Internet as place has put them in a profitable position because there is

minimal expense of maintaining a website.

38
39
 BOARD OF DIRECTORS

 Mr. Kishore Biyani, Managing Director

 Kishore Biyani is the Managing Director of Pantaloon Retail (India) Limited and

the Group Chief Executive Officer of Future Group.

 Mr.GopikishanBiyani,Wholetime Director

Gopikishan Biyani, is a commerce graduate and has more than twenty years of experience in

the textile business.

 Mr. Rakesh Biyani, Wholetime Director

Rakesh Biyani, is a commerce graduate and has been actively

involved in category management; retail stores operations, IT

and exports. He has been instrumental in the implementation

of the various new retail formats.

 Mr. Vijay Biyani, Wholetime Director

Vijay Biyani has more than twenty years of experience in

manufacturing, textiles and retail industry and has been

40
 actively involved in the financial, audit and corporate

governance related issues within the company.

 Mr. Vijay Kumar Chopra, Independent Director

V.K.Chopra is a fellow member of The Institute of Chartered

Accountants of India (ICAI) by profession and is a Certified

Associate of Indian Institute of Bankers (CAIIB). His banking

career spans over 31 years and he has served senior

management positions in Central Bank of India, Oriental Bank

of Commerce, SIDBI, Corporation Bank and SEBI

AWARDS

2009
CNBC Awaaz Consumer Awards 2009

Most Preferred Multi Product Chain - Big Bazaar

Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar

Images Fashion Forum 2009

Most Admired Fashion Group Of The Year - Future Group

Most Admired Private Label - Pantaloons, the lifestyle format

41
Critics Choice For Pioneering Effort In Retail Concept Creation - Central

Coca-Cola Golden Spoon Awards 2009

Most Admired Food & Grocery Retailer Of The Year

Most Admired Food Court

Most Admired Food Professional

2008
Indian Retail Forum Awards 2008

Most Admired Retail Company of the year - Future Group

Retail Face of the Year - Kishore Biyani

Best Retailer Of The Year ( Hypermarket) - Big Bazaar

Future Group was awarded the Most Admired Retail Company of the year

by the Indian Retail Forum at a glittering ceremony organized in Mumbai. Mr.

Kishore Biyani also won Retail Face of the Year.

India Retail Forum (IRF) is a platform for intellectual insights and

information exchange for the retail business in the Indian subcontinent.

42
 The forum presents the business of retail in the region to a global audience,

with the express aim of facilitating understanding about and encouraging

investment in this massive marketplace.

Big Bazaar, the value format of Future Group bagged the Best Retailer Of

The Year Hypermarket

The INDIASTAR Award 2008

Food Bazaar: Best Packaging Innovation

Food Bazaar bagged the INDIASTAR Award for Best Packaging Innovation

in India, for its private label brand Fresh And Pure Chakki Atta.

INDIASTAR Award is a biennial event which aims to promote and

encourage excellence in packaging design, innovation and technology. The

contest was established in 1972 and is considered as the most popular and

premier event for India’s packaging fraternity. This year there were around 357

entries and the participants had to submit a sample of their designs for selection.

With this award, Pantaloon Retail (India) Limited becomes the first Indian

Retailer to win the prestigious INDIASTAR Award.

43
 Retail Asia Pacific 500 Top Awards 2008

Gold Winner - Top Retailer 2008 Asia Pacific

Retail Asia Publishing Pte, the institutor of these awards, aims to set a platform

that appraise raises and recognizes the development and growth of retailing

throughout the Asia Pacific region.

44
 Employee Retention
For managers, nothing feels better than having a strong, successful,

happy workforce in place that is mutually focused on the organization’s

performance. Hiring top-quality individuals is an important task on its own,

but essential to any manager’s ongoing process is a critical retention

strategy. In fact, hiring does not end when the candidate has accepted the

position. Advantageous initiatives and well-planned processes must be

firmly in place and consistently nurtured so that employees will have

reasons to remain with your company for growth to continue. Following a

well developed strate gy will let you reduce recruitment through retaining

your top-performing talent.

Obviously, you cannot hold onto all your best people, but you can

certainly minimize the loss. Reducing employee turnover is a strategic and

vital issue, beneficial to your company’s bottom line. It has taken

considerable time and resources to attain a staff that you are proud of – to

replace them starves your organization of many essential success factors

(money, overall attitude, productivity, etc.) and the company’s ultimate

triumph. The intent of this whitepaper is to help you discover the importance

of retaining your valuable employees and provide you with a list of

solutions.

45
46
 PEOPLE ARE VALUABLE

“Look after your people and the business will look after itself”.

Like an art collector who has spent time and research attaining that

Great Master’s work which embodies the talent, skills and training of the

artist, getting excellent staff requires the same passion. The collector

protects the painting with superior security and environmental methods. In

your position as a manager of people you must do whatever you can to keep

that priceless individual who works hard for your company and generates

strong results.

As an experienced business person, you have undoubtedly used, or are

in the process of using effective hiring tools to assemble what you believe to

be the best staff, with exceptional skills and who fit well into your

company’s unique culture. In a competitive, professional world, top

performers are often made a variety of offers before they settle on one career

position. But once they are working for you, they need reason and

motivation to remain.

47
The old adage “Look after the small things and the big things look after

themselves” can easily apply to your workforce.

Your staff is more than employees. They are valuable individuals with

unique competencies and characteristics who require appreciation as much

as a paycheck. In fact, people are the single most valuable element within

your organization.

Employee Retention Benefits

 Businesses that invest in employees and have high employee

engagement have a competitive advantage in their ability to make it

through a recession.

 These companies will emerge from the recession stronger and

healthier unlike the companies whose workforce has been decimated.

 Employees feel respected, valued, and appreciated

 Employees get to be players and not just hired hands

 Employees get to make a difference

48
 RECOGNIZING THE PROBLEM

Who is ultimately responsible for staff retention?

Retention starts at the top. Sourcing, hiring and retaining motivated

employees is the responsibility of the company’s governing board and

Leadership Team. Getting and keeping good staff demands focused, formal

and informal policies and procedures that make retention a prime

management outcome. Managers need to appreciate staff every day and

constantly work to keep them on board.

The HR department alone cannot reduce turnover.

49
The High Cost of Employee Turnover

The costs of high staff turnover can be incredible. Some of the substantial

costs that occur when a person leaves your organization include the

following:

1. Recruitment costs

● From advertising to the time spent interviewing and sourcing.

2. Training costs

● Orientation materials and trainers’ time (ex. call center agents require on

average 4 - 6 weeks or more of classroom training).

3. Lost Productivity Costs

● A new employee operates between 25%-50% of productivity levels for the

first three months, not including the time spent by existing employees to

assist.

4. Lost sales costs

● The loss of business when the role is vacant.

50
Some common retention strategies:

1. Communicate Effectively With Your Employees

• This is the most critical tactic of all.

• Assumptions and speculations are deadly to employee morale and the

health of the organization.

• Encourage your workers to share their concerns with you and in turn

share your concerns with them. This fosters openness and trust

between all parties involved.

2. Search for Ways to Redeploy Employees

• It doesn't make sense, financially or otherwise, to get rid of valuable

employees during an economic downturn.

• When the recession is over you will need to replace these workers and

at what cost?

• Instead, shift these workers to other areas that are still performing

well.

• Employees that leave companies take valuable knowledge with them.

3. Make Wiser Choices when Hiring Employees and Managers

51
 • Consider the corporate culture that this prospective employee or

manager must fit into and determine if there is a match.

• Doing so will ensure that not only will the employee/manager match

the company's expectations but the company will match the

employee's or manager's expectations.

4. Be an Effective, Ethical Leader

5. Be a Great Motivator, Innovator and Leader

• Inspire your employees to achieve great things.

• Believe in their capabilities.

• Encourage them often to stretch out of their comfort zones.

• Listen to their ideas and implement them.

• In a nutshell, champion them and they will champion you and the

company.

6. Treat Employees Fairly and Respectfully

• Your employees are your company's best asset and you must protect

and nurture them.

• Whether you know it or not, you are in the business of growing

people.

52
 • Let them know how valuable their contributions are to the company.

• Honor your commitments to them.

Retention Strategies of BIG BAZAAR

 Top Performer Profiling
 Orientation and OnBoarding
 Performance Reviews
 Career Pathing and The Two-Way Value Proposition
 Communication and Employee Engagement
 Morale Boosting
 Competitive Compensation
 Non-monetary Reward and Recognition
 Employee Surveys
 Exit Interviews
 The Boomerang Effect

1. Top Performer Profiles

“Knowing how to select the right people, and in fact, actually selecting

them is essential to successful performance.” - Bill Pollock, “People Are

Everything”

It is important that both the organization and the employee know what they

want to get out of the job.

53
The goal for any recruitment strategy should be to attract a top performer

who will stay with the company for as long as possible. In order to hire those

“near perfect” individuals, an ideal role profile should be created. If a

company spends quality time, energy and focus to create such a profile it

becomes much easier to source qualified candidates who will successfully

fill the position.

A candidate profile should be built around existing top performer’s skills,

knowledge and behaviour. Using predictive performance profiling such as

Drake’s P3 proves invaluable in this process. It will match candidates to

these criteria and distinguish them as future key contributors in your

organization.

2. Orientation and Onboarding

Once ideal candidates are hired, their orientation to the company and the role

is paramount. Orientation is the critical “fitting in” phase of the training

process. New hires are oriented to the workplace culture, trained in the role

and learn the company’s expected outcomes. The orientation process must

provide a clear understanding of the role and the performance targets

54
necessary to attain to complete the role successfully. By establishing these

targets from the outset, the employee will not be faced with surprise

expectations, instilling both confidence and reliability.

Onboarding continues far past the point where orientation programs

typically end. Some orientation experiences conclude after a couple of days

of the employee’s first day. Yet, a number of more enlightened companies

have extended their orientations for a number of months, conducting follow-

up sessions on a periodic basis. This longer approach often serves to deepen

the bonds with the employee by providing more attention, human interaction

and information.

3. Performance Reviews

Positive feedback on a regular basis does more to propel success in an

individual than any other performance related tactic. Performance reviews

are a chance to formally communicate an employee’s contribution to the

company. A properly conducted performance review provides the employee

and their manager an opportunity to step back, look at the bigger picture of

the employee’s performance and to discuss in broad strokes whether the

performance is below, at or above company expectations.

55
Performance Reviews increase the chance of an underperforming employee

improving their performance.

4. Communication and Employee Engagement

Clear and open communication is the best foundation for nurturing staff.

Nothing says respect or models empowerment more than managers who

actively listen to their employees. The active listener appreciates the

employee’s feelings, input and concerns which can be the most cost-

effective way to acknowledge people.

Being heard builds self-esteem and employees with high self-esteem feel

trusted and valued and are less likely to feel marginalized.

People work for people, not companies, and people need to communicate

effectively to ensure that their voices are being heard and their concerns

addressed.

5. Morale

Whether employees are heading for the exits at an alarming rate or because

employee relations issues are becoming increasingly problematic, the issue

56
of morale is critical to operational success and should be the cornerstone for

any retention strategy. Morale directly affects the bottom line through its

impact on productivity, customer service (and therefore customer loyalty),

turnover, absenteeism and litigation.

Morale problems are experiential problems; they’re a result of a negative or

dissatisfying work experience due to the actual job itself, one’s relationship

with their boss, not having adequate training or a myriad of other factors that

affect morale. Since morale problems are due to an unsatisfying work

experience, the answer is in changing the work experience. More

specifically, the answer is in creating a work experience that itself is

rewarding (not always fun, but rewarding).

6. Competitive Compensation, Benefits and Incentive

Program

Competitive compensation and benefit packages including salary, bonuses,

stock options, and the traditional health insurance and retirement packages

are tools that some companies use to help keep employees onboard. Salary

increases should be structured to stay competitive within your market sector,

geography and the position.

57
Carefully developed bonus or profit sharing programs provide encouraging,

goal-oriented initiatives for employees to aim towards. The goals for success

set out by the manager and the employee are more attainable if realistic and

practical incentives are firmly in place.

7. Non-Monetary Reward Recognition

Creative non-monetary reward and recognition programs can be powerful

tools. Increasingly, companies are using informal methods for rewarding

staff while financial compensation is becoming less the norm for

recognizing employee accomplishments. Reward systems that are person-

based are proving to be effective especially when recognition is linked to

personal desires or needs such as:

 Time Off
 Flexible work hours
 Job-sharing
 Office Space
 Home Office
 Special Projects, Committee Involvement
 Public Acknowledgment
 Career development and training

58
  Company organized discounts such as fitness memberships, discounts
on company products / services, discounts on client’s products /
services
 Community and Charity Involvement

8. Employee Surveys

Collecting survey data and understanding concerns is only the first step.

Managers need to craft and implement policies that meet employee concerns

head-on. Organize company-wide communication sessions that feed back

survey responses and associated actions, this lets employees know they are

being heard and that their issues are being addressed. Employee surveys are

best delivered by a third party consultative company

9. Exit Interviews

“Facts do not cease to exist because they are ignored.” Aldous Huxley

It is unrealistic to think that good people can be trapped. So, when people do

leave it is important to know why and adjust hiring profiles, policies and

practices within the company to address the concerns.

A structured exit interview program can play an integral role in employee

retention. Remember it is important to learn from the information gleaned in

these interviews. By not paying attention to the results turnover will

continue for the same reasons.

59
There are five key guidelines that should be kept in mind to help ensure that

the end result is a useful and effective survey:

 Do not focus solely on the employee’s reasons for leaving but also on
the employee’s attitudes and experiences that identify the issues and
concerns which may not surface when asking about reasons for
leaving.
 Ensure that there is more than one way for employees to express their
reasons for leaving – including several open-ended questions for them
to include their own comments – to get a full perspective on their
decision to leave.
 Incorporate key behavioral measures such as the employee’s
satisfaction with the job itself, how well the employee’s job
responsibilities were defined, perceived opportunities for
advancement and the employee’s perspective on the amount of
training, feedback and recognition received.
 Recognize that exit interview practices need to be implemented
consistently and in such a way as to encourage employees to share
their opinions honestly.
 Incorporate the ability to examine results not only on the basis of
individual results but for the organization as a whole.

60
10. The Boomerang Effect

The word ‘boomerang’ has recently been used to describe employees who

return to an organization. Boomerang employees are usually very committed

to their position and the company and are therefore can become the some of

your best recruiters for new talent and mentors for existing employees. The

time they have spent away from the organization has given them the

additional knowledge of the market, and they have personally experienced

that perhaps the grass isn’t greener on the other side.

Company Profile

Big Bazaar is a chain of hypermarket in India. As of June 2, 2012 there are 214 stores
across 90 cities and towns in India covering around 16 million sq.ft. of retail space.
Big Bazaar is designed as an agglomeration of bazaars or Indian markets with clusters
offering a wide range of merchandise including fashion and apparels, food products,
general merchandise, furniture, electronics, books, fast food and leisure and
entertainment sections.

Big Bazaar is part of Future Group, which also owns the Central Hypermarket, Brand
Factory, Pantaloons, eZONE, HomeTown, futurebazaar.com, KB's Fair Price to name
a few and is owned through a wholly owned subsidiary of Pantaloon Retail India
Limited(BSE: 523574 523574), that is listed on Indian stock exchanges.

History

Big Bazaar was launched in September, 2001 with the opening of its first four stores
in Calcutta, Indore, Bangalore and Hyderabad in 22 days. Within a span of ten years,
there are now 161 Big Bazaar stores in 90 cities and towns across India. By September

61
 2012 BIG BAZAAR will have two more stores in North east namely SILCHAR and
JORHAT in Assam.

Big Bazaar was started by Kishore Biyani, the Group CEO and Managing Director of
Pantaloon Retail India. Though Big Bazaar was launched purely as a fashion format
including apparel, cosmetics, accessory and general merchandise, over the years Big
Bazaar has included a wide range of products and service offerings under their retail
chain. The current formats includes Big Bazaar, Food Bazaar, Electronic Bazaar and
Furniture Bazaar. The inspiration behind this entire retail format was from Saravana
Stores, a local store in T. Nagar, Chennai

The stores are customized to provide the feel of mandis and melas [2] while offering the
modern retail features like Quality, Choice and Convenience. As the modern Indian
family's favorite retail store, Big Bazaar is popularly known as the "Indian Walmart".

On successful completion of ten years in Indian retail industry, in 2011, Big Bazaar
has come up a new logo with a new tag line: ‘Naye India Ka Bazaar’, replacing the
earlier one: 'Isse Sasta Aur Accha Kahin Nahin'. [3]

Strategy

3-C Theory

According to Kishore Biyani's 3-C theory, Change and Confidence among the entire
population is leading to rise in Consumption, through better employment and income
[4]
which in turn is creating value to the agricultural products across the country. Big
Bazaar has divided India into three segments:

India one: Consuming class which includes upper middle and lower middle class (14%
of India's population).

India two: Serving class which includes people like drivers, household helps, office
peons, liftmen, washermen, etc. (55% of India's population) and

62
 India three: Struggling class (remaining 31% of India's population).

While Big Bazaar is targeted at the population across India one and India two
segments, Aadhaar Wholesale is aimed at reaching the population in India three
segment. With this, Future Group emerged as a retail destination for consumers across
all classes in the Indian society.

Operations

The Big Bazaar Store in Nagpur.

Most Big Bazaar stores are multi-level and are located in stand-alone buildings in city
centers as well as within shopping malls. These stores offer over 200,000 SKUs in a
wide range of categories led primarily by fashion and food products.

Food Bazaar, a supermarket format was incorporated within Big Bazaar in 2002 and is
now present within every Big Bazaar as well as in independent locations. A typical
Big Bazaar is spread across around 50,000 square feet (4,600 m2) of retail space.
While the larger metropolises have Big Bazaar Family centres measuring between
75,000 square feet (7,000 m2) and 160,000 square feet (15,000 m2), Big Bazaar
Express stores in smaller towns measure around 30,000 square feet (2,800 m2).

Big Bazaar has the facility to purchase products online through its official web page,
and offers free shipping on some of their products.

63
Values & Cultures

Our Values

We acknowledge that every individual brings different perspectives and capabilities to

the team and that a strong team comes together with a variety of perspectives. What hold
them together are the core values that lay the foundation of this strength. Through the
entire chain of Future Group we identify these values with what is called The Future
Group Gene.

 Indianness: Confidence in ourselves.

 Leadership: To be a leader, both in thought and business.
 Respect & Humility: To respect every individual and be humble in our conduct.
 Introspection: Leading to purposeful thinking.
 Openness & Transparency: To be open and receptive to new ideas, knowledge
and information.
 Valuing and Nurturing Relationships: To build long term relationships.
 Simplicity & Positivity: Simplicity and positivity in our thought, business and
action.
 Adaptability: To be flexible and adaptable, to meet challenges.
 Flow: To respect and understand the universal laws of nature.

We Love to rewrite rules, even as we retain our values.

Culture

We work in an environment where the deadlines are tighter and the jubilations even more
exciting. We like to maintain this energy we've got going on, so we make sure to bring on
board exactly the right people. Everyone here has a range of amazing (and often hidden)
talents and creative interests.

64
Team

Kashyap Deorah
President

Kashyap heads Future Bazaar. Prior to this, Kashyap

founded Chaupaati Bazaar after returning to India in Nov 2007. Chaupaati enabled Indian
consumers to purchase products and services by phone. In Sep 2010, Chaupaati merged
into India's largest retailer Future Group.

Earlier, Kashyap started the US office of Geodesic (NSE: 503699) in the capacity of VP,
Business Development doing online affiliate sales in North America and mobile OEM
sales in Taiwan & China. Kashyap was an early employee at Jasper Design Automation.
Besides naming the company, he made contributions to the sales campaigns for key
customers and prospects in North America and Northern Europe. While a final year
student at IIT Bombay, Kashyap co-founded Righthalf, the first campus start-up as part
of the IIT Bombay Business Incubator. After a successful acquisition of Righthalf by
Stratify, he moved to the Silicon Valley in late 2000. Since then, he has worked with
high-tech startups doing sales, business development and product management.

Kashyap graduated from IIT Bombay in 2000 with a B. Tech. in Computer Science and
Engineering. Kashyap loves traveling, snowboarding, bungee jumping and climbing
mountains.

Gaurav Agarwal
Marketing

65
Gaurav heads marketing at Future Bazaar. As the head of marketing, Gaurav is in-charge
of online traffic, marketing affiliates and vendor program.

Gaurav has led many roles in early stage to growth phase startups often working in
companies with less than 30 employees. His last stint was with Amar Chitra Katha where
he created the New Media Division from scratch and grew the spread of ACK Comics to
all platforms. Prior to ACK, he has worked in the microfinance technology sector and
even attempted a startup in the complex event processing space.

Gaurav graduated from IIT Bombay in 2003 with an B. Tech and M. Tech. in Micro
Electronics.

66
 CHAPTER - V

DATA ANALYSIS AND INTERPRETATION

67
Data Analysis And Interpretation

It is an astonishing skill to discover the new things for a researcher in his study. It calls
for the researcher’s own judgment and skill. Analysis means a critical examination of the
assembled and grouped data for studying the characteristics of the object studying and for
determining the patterns of relationship among the variables relating to it.

PERCENTAGE ANALYSIS METHOD

it is special king of ration. It is used in making comparison between two or more series of
data that are used to describe relationship. Moreover % can also be used to compare the
relative terms of the distribution of two or more series of data.

Percentage analysis

Actual Population
Simple Percentage = -------------------------- x 100
Sample Size

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PERCENTAGE ANALYSIS
TABLE 1
Table No.1 Shows the employee’s category distribution on the basis of gender

S.No. Gender No.of Employees Simple Percentage

1. Male 58 58
2. Female 42 42
Total 100 100

Inference

The above table shows that 58% of the employees are belong to male category and the rest 42% are belongs
to female category..

Chart 1
Chart showing the number of respondents based on gender

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TABLE 2
Table No.2 Shows the age wise distribution of the employees

S.No. Age Group No.of Employees Simple Percentage

1. 18-25 Years 25 25
2. 26-35 years 50 50
3. 36-45 Years 25 25
4. 46-55 Years 0 0
5. Above 55 Years 0 0
Total 100 100

INFERENCE

The above table shows that majority of the employees i.e., 50% are attained the age 18-25 Years,
25% of the employees are attained the age 18-25 years and 25% of the employee are attained the age
between 36-45 years and there is no respondents in the age 46-55 and above 55years.

CHART 2
Chart showing age group of respondents

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TABLE 3
Table No. 3 Shows the experience of the employees

S.No. Experience No.of Employees Simple Percentage

1. Below 1 Year 48 48
2. 1-3 Years 35 35
3. 4-6 Years 17 17
4. 7-9 Years 0 0
5. 10-12 Years 0 0
Total 100 100

INFERENCE

The above table shows the experience of the employees i.e, 48% of the employees is below 1 Year, 35% of
the employee are between 1-3 years and 17% of the employees are between 4-6 Years, there is no
respondents in the 7-9 years and 10-12 years.

CHART 3
Chart Showing the experience of the respondents

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TABLE 4
Table No.4 Shows the income level of the employees

S.No. Income No.of Employees Simple Percentage

1. Rs. 3001 - 4000 68 68
2. Rs. 4001 – 5000 12 12
3. Rs. 5001 – 6000 5 5
4. Rs. 6001 – 7000 15 15
5. Above 7000 0 0
Total 25 100

INFERENCE
The above table shows the income level of the employee i.e., 68% of the employees is Rs. 3001 –
4000, 15% of the employees are Rs. 6001 – 7000 and 12 % of the employees are Rs. 4001 – 5000, 5% of
the employees are Rs. 5001 – 6000.

CHART 4

Chart showing the income of the respondents

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TABLE 5

Table No.5 Salary and Compensation

S.No. Factors No.of Employees Simple Percentage

1. Highly Satisfied 2 2
2. Satisfied 17 17
3. Neutral 20 20
4. Dissatisfied 43 43
5. Highly dissatisfied 18 18
Total 100 100

INFERENCE
The above table shows employees satisfied with their salary and compensation i.e, 2% of the
employees said highly satisfied, 17% of the employees said satisfied and 20% of the employees are said
neutral and 43% of the employees said dissatisfied and 18% are highly dissatisfied.

CHART 5

Chart showing salary and compensation

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TABLE 6
Table No.6 Leave Benefits

S.No. Factors No.of Employees Simple Percentage

1. Highly Satisfied 12 12
2. Satisfied 46 46
3. Neutral 33 33
4. Dissatisfied 9 9
5. Highly dissatisfied 0 0
Total 100 100

INFERENCE

The above table shows employees leave benefits i.e, 12% of the employees said highly satisfied,
46% of the employees said satisfied and 33% of the employees are said neutral and 9% of the employees
said dissatisfied and 18% are highly dissatisfied.

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TABLE 7

Table No. 7 Health related benefits

S.No. Factors No.of Employees Simple Percentage

1. Highly Satisfied 12 12
2. Satisfied 39 39
3. Neutral 35 35
4. Dissatisfied 14 14
5. Highly dissatisfied 0 0
Total 100 100

INFERENCE

The above table shows employees Health related benefits i.e, 12% of the employees said highly
satisfied, 39% of the employees said satisfied and 35% of the employees are said neutral and 14% of the
employees said dissatisfied and 18% are highly dissatisfied.

CHART 7
Chart showing about the health related benefits

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TABLE 8
Table No. 8 Long term care insurance

S.No. Factors No.of Employees Simple Percentage

1. Highly Satisfied 12 12
2. Satisfied 64 64
3. Neutral 13 13
4. Dissatisfied 11 11
5. Highly dissatisfied 0 0
Total 100 100

INFERENCE

The above table shows employees Long term care insurance i.e, 12% of the employees said highly
satisfied, 64% of the employees said satisfied and 13% of the employees are said neutral and 11% of the
employees said dissatisfied.

CHART 8

Chart showing about the Long term care Insurance

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 FINDINGS

1. Most of the customers buy their requirement in Big Bazaar on the basis of Weekly

and monthly basis. Customers realized that Big Bazaar stores provide qualitative

products/service with reasonable price.

2. At present time Big Bazaar provide different types of product assortments to the

customers.

3. Continuously opening of Big Bazaar chains in different major cities, increasing

quantities of the customers & profit show that Big Bazaar most accepted name in

organized retail chain in India.

4. Big Bazaar mainly deal with middle income group people who want qualitative

product with reasonable cost.

5. Big bazaar has a good reputation of itself in the market.

6. Big bazaar has positioned itself in the market as a discounted store.

7. Big bazaar holds a huge customer base. The majority of customers belong to middle

class family.

8. Impulse buying behavior of customers comes in to play most of the times in big

bazaar.

9. There are more than 50 big bazaars in different cities of India, it seems that there is a

vast growth of big bazaar lying as customers demand is increasing for big bazaars.

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 10. Big bazaar is a hypermarket as it provides various kinds of goods like apparels, grocery, stationary, food items,

electronic items, leather items, watches, jewellery, crockery, decorative items, sport items, chocolates and many more. It

competes with all the specialty stores of different products which provide goods at a discounted rate all through the year.

11. The major players in retail industries are Big bazaar, The Tata Groups (Croma),

Vishal Retail Group, Reliance Retail, Kirana stores & Sabka Bazaar etc.

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 SUGGESTIONS
 Big bazaar should include more of branded products its product category so as to

attract the brand choosy people to come in to big bazaar.

 Big bazaar should provide large parking space for its customers so that they can

easily park their vehicles.

 It should make different cash counters for different customers. Cash counter and

credit card payment counter should be placed differently in order to reduce the

rush and save the customer’s time. This will be a kind of motivator for the

customers of big bazaar.

 The service of the sales person is needed to be improved. Personal care should be

taken by the sales person for the customers so that the customers feel good.

 During the off peak hour’s big bazaar should provide some offers to its customers

so that people would be encouraged to come to big bazaar during off peak hours.

The customers who are present in the mall during the off peak hours of big bazaar

will definitely go in to big bazaar if surprise offers are made at that time.

 Customer care department is needed to take proper care of customer complaints

and queries. The person sitting at the help desk of big bazaar should be able to

provide all necessary information to the customers whenever it is required.

 The infrastructure is needed to be changed a bit during weekends as heavy crowd

comes in to big bazaar during those days.

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CONCLUSION:

Retention programs often fail because managers do not know and, therefore, do not act on themost
important areas affecting and employee’s intention to leave. Across the organizations, individual
development and career advancement stand out as both frequent and critical key drivers of any employee’s
intent to leave.

While the general conclusions across organizations may appear similar,at more micro level, the
composition and ordering of specific retention key drivers is unique to each company. In addition, the
meaning attached to specific drivers and, therefore, the actions to be taken may vary by organization.

Before implementing targeted solutions to improve retention, managers need to determine which
factors drive retention th their organization as well as the meaning of those drivers.
Thus I conclude that this employee retention is very important task in an every organization to
have retained the employees.

Put simply - you’ll have a successful company if you treat your

employees well so they want to stay with you.

 Employers who are able to minimize their employee turnover during

the recession period are going to emerge from it stronger and healthier

than those companies whose employees have defected.

 Do everything you can to make sure that you keep your employees

happy, engaged, and productive. Your company depends on it.

 Hiring top-performing and enthusiastic employees requires a certain

knack. But keeping those employees is an art. Increasing retention

requires careful planning and implementation resulting in a solid

program which incorporates many or all of the solutions mentioned

above.

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 In fact, many of the retention strategies mentioned above cost little or

no money to implement and require nothing more than carefully

planned time dedicated to long-term goals. Companies must realize

that by keeping their turnover levels low, they are in fact improving

their bottom line.

 The cost of retaining existing top performing employees, the cost

difference and time constraints is staggering.

 It is essential that every recruiter and manager should be concerned

with retention from the start of any recruiting program. The process

should be conscious of the end goal:

 To keep the individuals who outperform in your company.

 Making the new employee aware that the intention is to keep

them as long as possible.

 Encourages the employee in committing to long-term goals and

planning within the organization.

This study will help in evaluating employee retention program to

ensure that our organization has the best possible practices in place to reduce

costly turnover. To partner with a forward thinking organization who will

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deliver quantifiable results to your retention problem and, ultimately, your

bottom line, these strategies can help a lot.

QUESTIONNAIRE

Name:
Designation: Qualification:

1. Why have you chosen to remain employed with the BIG-BAZAAR?

Career advancement opportunities

Challenging work
Salary
Employee benefits
Less travel
Supervision/management
Other _________________________

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BIBLIOGRAPHY

Books:
► Kotler Philip, marketing management, (Pearson education, 12th edition)

► Malhotra K. Naresh, marketing research (An applied orientation), Research design,

(Prentice hall of India pvt. 5th edition)

► Berman B and Evans J.R, Retail Management (Pearson education, 10th edition)

► Louden D.L. & bitta delia consumer behavior ( tata Mc. Graw hill, 4th edition )

► Newman A.J. and Cullen P,Retailing,Environment and operations(Vikas,1st Ed.)

Websites:

www.bigbazaar.com
http://www.citehr.com/48275-executive-summary-n-conclusion-employee-retention-2.html#post222921
Retention review- From Wikipedia
http://en.wikipedia.org/wiki/employee retention
http://www.cs.ny.gov/successionplanning/workgroups/Retention/employeeretentionreport.pdf

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