Self-Fianncing Faculty as Hr - a Myth or Reality

Self- Finance Faculty as HR- Myth or Reality

Bina Sarkar

Ph.D Research Scholar

North Eastern Regional Institute of Science and Technology

Nirjuli, Arunachal Pradesh

binasarkar9@gmail.com / sbina75@yahoo.in

        9970398416

Abstract:

Human Resource is an integral part of an organization and a good recruitment decides the future of the organization. Once the employer gets the expected, required number of employees, the next step is to train, develop and retain them. The increase competition is increasing the employees' turnover, which may be because of many reasons like poor salary, bad working conditions, and employer – employee relationship etc. The employee turnover may cost to the employer in terms of time, money and productivity. In present competitive world it is not only important to have the right employees but it is equally important to retain them for the benefits of the organization and the employees. Retention of employee is becoming the top priority of organizations at present scenario. The 'employee retention' concept is not only restricted to the corporate sector or profit making institution but also in the non-profit making organizations, trusts, educational institutions, hospitals, etc. The present paper focuses on whether the same concept is equally applicable for the self- financing courses running under Mumbai University in Mumbai.

Key Words:

Employee, Human Resource, Turnovers, Retentions, Mumbai.

Introduction

The Under Graduate programs under Mumbai University are broadly classified under two categories viz., Aided and Unaided. The Aided sections are those which are purely funded by the Government and the Unaided, which is also known as Self- Financed Courses are the one which runs through the Management contribution and fees collected from students. The employees (teaching staff) in unaided section are less stable in their jobs than the Aided. In educational institution the teaching faculty plays an important role than any other staff. It is the performance of the faculty which decides not only the growth of the institution but at the same time the future of the students. More the number of employees’ turnover in these sectors provides a less publicity and a negative goodwill for the organization. Many colleges with self-finance courses started the retention of good and right number of employees in their institutions. The self-financed courses do not get any government funding or any kind of support. It is necessary to study, how the college management attracts and retains the best teaching staffs for their college. The perception is that there are very less number of college which tries to retain the teaching staff, which may be because of various reasons, like getting better employees than the existing, trying to find a positive improvement in the results of students, some intra-personal reasons, or it just a way to get fresh staff and pay the old salary structure as the existing will expect for a hike, or the resignations by employees etc. If there is a frequent turnover in the employees, it becomes a matter to discuss and find strategies to retain the existing staff and reduce the turnover. It is a big challenge for the colleges as there is an increasing competition of retentions and the changing Government rules and regulations. The student strength in self-financing courses is comparatively more than the aided courses, it is result of the more diversified and specialized courses which are available in self-financing section. The strength of teaching staff also needs to be increase with an equal proportion to the need of subjects and student strength. The teaching staff strength is increasing both in terms of quantity and quality, but how far they are getting the benefits as Human Resource in 'educational institutions'?  Do they get the equal treatment like that of aided section faculty? How far they are satisfied as self -financing faculty? An attempt has been made to get the answers of these questions.

Objectives of the Study

1. To study the status of self-financing staffs in colleges under Mumbai University.

2. To study the strategies to provide better scope for self-financing teaching staffs.

Research Methodology

The population of the study covers the teachers’ of the self-financed courses in the colleges conducted under Mumbai University. The sample covers 50 teachers from five different self-financed colleges.

Both primary and secondary data have been used to conduct the study. A structured questionnaire was used to collect the primary source of information. The secondary data includes the published materials in the form of books, journals, newspapers articles etc. The help of electronic media is also used for the study. The observation methods of research also have been done wherever required.