Motivation in many organizations is done only through rewards and recognition. Mostly employees in this organization are not motivated to greater extent, since rewards and recognition are not done at the right place and at right time even they are working beyond their targets and doing extra mile. Monetary benefits are one of the primary tools for the employees’ retention. The objective of the study is to analyse various factors that constitute to increase in employee retention and to find the motivation techniques that are used in Ameth Autopack, Chennai. The research method used is Descriptive in nature. The sampling technique used in the study is simple random sampling. The sampling size for the survey is 120, and the questionnaire are well structured which had both open ended and close ended questions in it. Primary data has been collected from the company’s employees. Secondary source of data collected through company’s website and research books. Simple percentage analysis, Chi square analysis and correlation are applied to reach the findings of the study. It is determined that a mix of monetary and non-monetary perks has a major impact on employee engagement and retention. The results show that in order to satisfy financial expectations and improve work satisfaction, competitive pay, prompt raises, and performance-based incentives are essential. Employee engagement and work-life balance have been proven to be successfully supported by non-monetary rewards including recognition programs, flexible work schedules, and health and wellness activities. The research also comes to the conclusion that things like chances for professional progression, equitable treatment, and good management communication are essential for preserving motivation and lowering attrition. The close connection between employee motivation and retention emphasises the need for businesses to make investments in comprehensive plans that take into account workers' personal and professional demands. Organisations can guarantee long-term retention, increased production, and ongoing success by cultivating a motivated staff.
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A STUDY ON PROCESS OPTIMIZATION FOR PROCUREMENT PROCESS IN BIMETAL BEARINGS LIMITED, CHENNAI
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