Reading Comprehension Quiz
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Q.Read the following passage carefully and answer the questions given below it. Certain words are given in bold to help you locate them while answering some of the questions.
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The world continue to discover the economics of Indian talent. Indian business leaders increasingly worry about hanging on to their key “breadwinners” or perhaps we should say “cake earners”. With the continuing strong economic growth in many sectors, the buoyancy in hiring has improved and correspondingly the level of attrition has increased. Retention of employees is again the subject of concern in all our buoyant industries: IT, BPO, auto, components, pharmaceuticals, and research and development. Attrition figures depending on the industry and level vary from 10 per cent to as high as 50, in some of the BPO segments. But figures of 20 per cent attrition especially at junior to middle levels (the one-year to five year experience levels) are pretty common across a wide spectrum of industries. For most companies the cost of attrition in terms of the attendant hiring costs, training costs and discontinuity costs are often about 30 per cent of the manpower costs! The search for the right retention tool and insights in this respect is an industry in itself! Employee satisfaction surveys and compensation surveys are all tailored to address the issue of retention by providing “insights”. On what the “Employee wants” and how to keep up with the Joneses next door or in our industry. Most often companies look for quick fixes; and the answers are usually in compensation, stock programmes, complex golden handcu programmes, feel god programmes; retreats in Singapore or Zurich large brand building and induction and orientation programmes! All of which are vitally important, but do not necessarily address the retention problem in isolation. While stock programmes were seen to be the most e ective retention for a long time, the crash and volatility in the stock markets have reduced the relevance of this favourite tool. But they have also shown us that employers of substance have a lot more “fundamentals” that work for them! I do not knock the importance of either the surveys or the consequent HR initiatives including the compensation and stock programmes but feel that often organizations miss the basic points that build a great organization and employee “stickiness”. I have seen many organizations with fairly modest compensation (not low) continue to attract excellent people. Take the HDFC group for example, or TCS or Infosys. While us often search to uncover the hidden “incentives” in these organizations: is their stock working for them, do they have great benefits, do they send them abroad, do they make extraordinary investments or training? Are they lucky to have great performance? Or be in the right sector? Yes, many of them do all of these and yet there are many other organizations that do the same, but do not inspire the same amount of loyalty. It is important to remember that most employees are simple people wanting the comfort of a secure supportive environment and a decent (not super) compensation and with reasonable opportunities to grow. But, what they often look for in addition, is inspirational or strong leadership that the you can ‘trust” and believe, when gives them comfort that their a airs are in good hands even in bad or tough times, and who they believe will be “fair”. “Fairness” is always the toughest issue because it is often in the eyes of the beholder. As several of our companies turn in good results, there is often the question of what they must share with the shareholder and the employee. When a company needs to restructure for better performance the same debate can be in the reverse. The fairness and consistency of leadership usually comes through at such times and is not lost on employees in the long run. Our surveys therefore need to lose track more strongly the perceived fairness and trust our leaders evoke their ‘connect with people”. And not just their business vision and acumen. And lastly in India where the work we do is virtually our only identity employees’ look to be part of an organization that they are proud of in all respects. No retention programme can a ord to ignore this reality.
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1.Why does the author say that most companies look for quick fixes as far as retention is concerned?
A. Because there is non-availability of any research based study on the problem of retention,
companies do not have fare idea to deal with this problem.
B. Because of the cut-throat competition in today’s globalised world, retention is not a major
issue for companies so they take it lightly.
C. Since most of the companies can a ord the losses due to attrition therefore they are least
D. because of the focus on short term solution thereby missing the finer retails of underlying
basis of retention
2.What are the shortcomings of compensation surveys and stock programmes according to the author?
A. Most of the surveys favour employers and hence are partisan in nature.
B. At times companies forget to examine the benefits of compensation surveys and stock and try to implement them quickly
C. These are the parts of traditional ways of dealing with the problem therefore these methods are useless.
D. Most of the compensation surveys and stock miss the basics and also they do not focus employees stickiness.
E. None of the above
3.What are the key elements of employee satisfaction according to the author?
A. High growth and decent salary.
B. Good H.R. initiatives and grievance policy
C. Good training and recreational facilities
D. Trust and fairness
E. None of the above
4.What is the advice that the author gives for retention of employees?
A. Companies must analyze the humanitarian aspect of this problem.
B. Since one of the problems in corporate sector therefore it is to be solved by tried and tested ways.
C. Companies must consider that “money is cure to all ills” so they should focus on giving
monetary incentives to their employees in order to retain them
D. That companies should focus not on short term but on long term measures
E. None of the above
5.Choose the word which is MOST OPPOSITE in meaning to the word printed in bold as used in the passage. VOLATILITY
6.Choose the word which is MOST OPPOSITE in meaning to the word printed in bold as used in
the passage. CONSEQUENT
D. E ectuate
E. None of the above
7.Choose the word which is MOST OPPOSITE in meaning to the word printed in bold as used in
the passage. PERCEIVED
8.Choose the word which is MOST SIMILAR in meaning to the word printed in bold as used in the
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- D. because of the focus on short term solution thereby missing the finer retails of underlying basis of retention.[ Read paragraph 3 & 4]
- D. Most of the compensation surveys and stock miss the basics and also they do not focus employees stickiness. [ Read paragraph 5 ]
- D. Trust and fairness [Refer to paragraph 8 and 9 where author has mentioned the value of trust and fairness.]
- D.[ Read paragraph 3 option (c) is factually wrong. Rests of the choice are out of context.]
- D. Certitude [Volatility means liability to change rapidly and unpredictably, especially for the worse hence certitude is the word most opposite in meaning.]
- D. E ectuate [Consequent ‐ following as a result or effect. Effectuate is most opposite as it means to put into force or operation.]
- E. Confound [Perceived means become aware or conscious of (something); come to realize or understand hence confound is the word most opposite in meaning.]
- C. Kindle [Evoke means to bring or recall (a feeling, memory, or image) to the conscious mind hence kindle is the word most similar in meaning.]
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