EMPLOYEE TURNOVER AND RETENTION OF EMPLOYEES IN SMALL SCALE ENTERPRISES WITH SPECIAL REFERENCE TO KARUR DISTRICT

Dr.K.Maruthamuthu; R.Manikandan

Volume : IV, Issue : VIII, August - 2015

EMPLOYEE TURNOVER AND RETENTION OF EMPLOYEES IN SMALL SCALE ENTERPRISES WITH SPECIAL REFERENCE TO KARUR DISTRICT

Dr. K. Maruthamuthu, R. Manikandan

Abstract :

Small size enterprises represent a large, diverse and important sector worldwide and considered as the most significant segment which contributes in the development of any country. In recent years the small sized enterprises have come under public policy limelight (Schlogl, 2004) and gets attention of the policy makers of developed and developing countries. According to the figures and facts provided by the UNIDO, 90 percent businesses worldwide are fall into the category of Small and medium enterprises(SME) sector and provides approximately 60 percent employments around the world. While analyzing the significance of SME sector worldwide and its importance into the country�s economy it can be inferred that SME sector plays a vital role in developing our country�s economy too. Human resource is fundamental and essential capital for any organisation. It acquires even more importance in the home textile industry, which is the main focus of our study. The working of textile industry is more directly dependent on skilled and semi skilled people, compared to that of other industries. In the course of our study we seek to answer practical questions of, how to resource people in to the organisation? How to manage them effectively? (Pilbeam, Coridge, 2002). Furthermore, how to retain skilled talents? This is very crucial in the subject organisation, where the productivity and competitive edge lies on this important factor. Although the recent innovations and technological developments have eased the dependency on this factor, the quality and on time production depends heavily on the skills of the people working for it. Human resource management is one of the most complex and challenging field in modern management. It helps in creating an effective workforce and handles the expectations of the employee to ensure that they perform at their best, in the most efficient environment. Traditional approach to the personal management emphasizes command and control. Recent impacts of human resource management give a way to new approaches characterized by greater freedom and support to the employees. This transformation is almost complete to manage most aspects of their work.