Gender: HPWL category 59 27.1 105 33.9 Male 37 27.8 34 34.1 Female 96 27.4 139 33.9 Total HPSL category Male 45 26.5 74 34.6 Female 20 27.5 25 32.7 Total 65 26.8 99 34.2 B.
Attraction of 'higher salary' and 'higher-company-brand-name' have appeared to be the prime reasons for most of the HPWL and HPSL group of employees respectively (see table-1).
In order to observe attitudinal differences of employees, if there is any, within HPWL and HPSL group we classified our respondents of each group into managerial and technical categories and the distributions of their prime reasons behind leaving company are presented in table-2 and table-3.
On the other hand, the managerial and technical category of employees of HPSL group also give similar reasons but quite different from that of HPWL group (see table-3).
Two logistic regression models have been run separately, one for the HPWL group and the other for the HPSL group of employees.
It is evident from the classification table (see table M8) that by adding the explanatory variables we can now predict HPWL and HPSL employees' propensity to change job with 95.4 percent and 94.3 percent respectively accuracy.
In our case the model chi square for HPWL group of employees has 6 degrees of freedom, a value of 252.124 and a probability of p < 0.000 and HPSL group has 6 degrees of freedom, a value of 186.095 and a probability of p < 0.000.
Here it is indicating 68.7 percent (in case of HPWL group) and 69.0 percent (in case of HPSL group) of the variation in the dependent variable is explained by the logistic models.
Here in our models H-L statistic have significance of .959 for HPWL group and .995 for HPSL group of employees which means that these are not statistically significant and therefore our models are quite good fit (see table M7).
The ratings are however constrained by the intensely competitive nature of the ferro-alloys industry and the fact that HPSL is largely dependent on external sources for meeting its raw material requirements which increases its susceptibility to adverse movement in product prices.
Further, while assigning the rating, ICRA took into consideration the high working capital intensity of HPSL's business due to its high inventory days.