Research on Ovex

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Business Research Report

Submitted to: Ma’am Fatima Ashraf
Submitted by:
Moeed Hussain 1011171
Sheheryar Alvi 1011172
Sidra Afzal 0917120
Submitted to: Ma’am Fatima Ashraf
Submitted by:
Moeed Hussain 1011171
Sheheryar Alvi 1011172
Sidra Afzal 0917120

Table of Contents
Executive Summary2
Introduction3
Specific Problem Statement:4
Literature review5
Methodology:6
GENERAL INFORMATION6
RATING YOUR JOB SATISFACTION7
Theoretical Frame work:8
Hypothesis:9
Research Findings:9
Conclusion:9
References10

Executive Summary
Ovex technologies are one of the best outsourcing companies in the country. They offer a number of services to their customers in HR services like Selection and Recruitment of the new candidates, call center services and software development to the clients. The specific problem in their company is related to the HR department. It has been seen that their employees switch to other jobs because of Low Salary Packages and Benefits. Independent Variables are Salary and Benefits and job satisfaction while the dependent variable is Employee Turnover rate. In order to know about the relationship between the Salary and frequent Job Switching we have conducted an empirical research. Our findings and the relationship between these variables will be shown in the conclusion.

Introduction
Ovex technologies are one of the leading organizations related to Human Resource Management and Information Technology Solutions. It is one of the best outsourcing companies in the country offering a number of services to their customers in Human Resource Management.HR services in Ovex technologies include selection and recruitment of the new candidates, call center services and software development to their clients. Ovex technologies are different from other business organizations because of its best BOP (Business Outsourcing Process) and IT (Information Technology) solutions provider. They offer HR services like selection and recruitment of the new candidates, call center services and software development to the clients.HR outsourcing is a fairly recent phenomenon. Organizations have now realized the true potential and benefits of HR outsourcing.HR outsourcing includes selection and recruitment, compensation and benefits, training and development. Selection and recruitment includes screening of qualified pool, recruitment analysis and forecasting, induction testing and reference checks. The problem in their company is related to the HR department. It has been seen that their employees switch to other jobs. Because of this frequent job switching the HR department needs to hire more employees and all this process requires heavy money, time and also affects the performance of other employees as well. For its proper operation, an effective Human Resource Management is needed.

Specific Problem Statement:

It has been seen in recent past that a high employee turnover rate exists in the organization.

Literature review
Employees’ turnover is a much studied phenomenon Shaw et al. (1998). According to Abassi et al. (2000) employee turnover is defined as the rotation of workers around the labor market. The employee turnover ratio is defined by Price (1977) as the number of employees who have left the organization during a period divided by the average number of people in that organization during that period. Sometimes the entire process associated with filling a vacancy in an organization is referred to as turnover by managers. Whenever an employee leaves an organization, a position is left vacant. A new employee must be hired and trained to take up that position. This replacement cycle is also called turnover Woods,(1995). Having a high turnover rate is very harmful for the organization as costs are incurred in recruiting and training the new workers to fill the vacancy. The organization has to spend a significant number of resources on the hiring and...
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