Emp Satisfaction - LG-1

EMPLOYEE SATISFACTION

INTRODUCTION

Employee satisfaction has been defined as a function of perceived

performance and expectations. It is a persons’ feeling of pleasure or

disappointment resulting from comparing a products’ outcome to his/her

expectations. If the performance falls short of expectations, the employee is

dissatisfied and if it matches the expectations, the employee is satisfied. A high

satisfaction implies improvement in efficiency and performance doing work

or service. The process is however, more complicated then it appears. It is

more important for any organization to offer high satisfaction, as it reflects

high loyalty and it will not lead to switching over once a better offer comes in.

CONCEPT

Employee satisfaction is the terminology used to describe whether employees

are happy and contented and fulfilling their desires and needs at work. Many

measures meaning that employee satisfaction is a factor in employee

motivation, employee goal achievement, and positive employee morale in the

workplace.

As per Vroom “Employee Satisfaction is a positive orientation of an individual

towards a work role which he is presently occupying”

Employee satisfaction is a measure of how happy workers are with their job

and working environment. Keeping morale high among workers can be of

tremendous benefit to any company, as happy workers will be more likely to

produce more, take fewer days off, and stay loyal to the company. There are

many factors in improving or maintaining high employee satisfaction, which

wise employers would do well to implement. Employee satisfaction, while

generally a positive in organization, can also be a bad luck if mediocre

employees stay because they are satisfied with your work environment.

Many experts believe that one of the best ways to maintain employee

satisfaction is to make workers feel like part of a family or team. Holding office

events, such as parties or group outings, can help build close bonds among

workers. Many companies also participate in team-building retreats that are

designed to strengthen the working relationship of the employees in a non-

work related setting. Camping trips, paintball wars and guided backpacking

trips are versions of this type of team-building strategy, with which many

employers have found success.

Of course, few workers will not experience a boost in morale after

receiving more money. Raises and bonuses can seriously affect employee

satisfaction, and should be given when possible. Yet money cannot solve all

morale issues, and if a company with widespread problems for workers

cannot improve their overall environment, a bonus may be quickly forgotten

as the daily stress of an unpleasant job continues to mount.

If possible, provide amenities to your workers to improve morale. Make

certain they have a comfortable, clean break room with basic necessities such

as running water. Keep facilities such as bathrooms clean and stocked with

supplies. While an air of professionalism is necessary for most businesses,

allowing workers to keep family photos or small trinkets on their desk can

make them feel more comfortable and nested at their workstation. Basic

considerations like these can improve employee satisfaction, as workers will

feel well cared for by their employers.

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The backbone of employee satisfaction is respect for workers and the job

they perform. In every interaction with management, employees should be

treated with courtesy and interest. An easy avenue for employees to discuss

problems with upper management should be maintained and carefully

monitored. Even if management cannot meet all the demands of employees,

showing workers that they are being heard and putting honest dedication into

compromising will often help to improve morale.

Satisfaction being a continuous process starts from the day 1 and gets

reinforced with time depending on the importance of the various factors

considered to be important for the individual employee. Loyalty towards the

organization starts to develop when the employee continues to get the

positive reinforcements on various important aspects for the duration of the

employment.

1.1.1 Core Values as a Foundation of Employee Satisfaction :

These are the values that have enabled employees to build the leading

company in industry; these are the values that will fuel employees’ worldwide

growth in the coming years; and these are the values that will drive

employees’ career:

Professionalism – Demonstrating professional methods, character and

standards. Treating prospects, clients and co-workers generously and

charitably at all times, but especially in the face of adversity.

Enthusiasm – Showing excitement, optimism and passion for your

work.

Resourcefulness – Acting effectively and imaginatively to produce

great results from scarce resources.

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Self-directedness – Working independently and autonomously to

achieve the goals set by management.

Ethics – Acting in accordance with the accepted principles of right and

wrong that govern the conduct of our profession.

Unselfishness – Putting others before yourself, giving your time and

effort for prospects, clients and co-workers. Showing cooperative effort

as the member of a group to achieve a common goal.

Strategic-mindedness – Suggesting and implementing long-term

improvements springing from a sequence of short-term tasks.

1. OBJECTIVES OF STUDY:

i. To Measure the satisfaction levels of employees on various factors and

give suggestions for improving the same.

ii. To study the relationship between the personal factors of the employee

(Gender, Designation, Qualification, Age, and Years of Service in a

company) with satisfaction level.

iii. To derive and analyze the current satisfaction level of the employees in

the company

iv. To study the various factors which influencing employee satisfaction.

2. NEED FOR THE STUDY:

The employee satisfaction is the orientation of the industry towards his work

role, which he is presently playing. The organization will only thrive and

survive when its employees are satisfied.

This makes person says completely that he is fully satisfied with the job. This

study conducted so that the employees give their full, honest and frank

opinion by remaining anonymous about how they feel about their jobs.

The survey is also useful way to assess the training needs and also a tangible

expression of the management’s interest in the employee welfare, which

would give the employee a cause to have and feel better towards the

management.

3. SCOPE OF THE STUDY:

Scope of the study is to carry out the study of the employee satisfaction at

company and assess the employee satisfaction level in present competitive

environment of Industry to help knowing and reading of the minds of the

current generation professionals regarding their Company Culture,

Compensation, Work atmosphere, Management support, Job satisfaction,

performance appraisal and Career growth opportunities. This study refers

employee satisfaction of Employees at LG. Employees are the basis of every

organization. Recruiting and retaining knowledgeable people for the job is

essential for an employer. But it works only if employee satisfaction is

considered more important because of it employees attracted and not leave

the company. It is require studying the various factors to assess employee

satisfaction level.

4. RESEARCH METHODOLOGY:

The methodology followed for conducting the study includes the specification

of research design, sample design, questionnaire design, data collection and

statistical tools used for analyzing the collected data.

RESEARCH DESIGN: The research design used for this study is of the

descriptive type. Descriptive research studies are those studies which are

concerned with describing the characteristics of a particular individual or a

group.

POPULATION: The total element of the universe from which sample is

selected for the purpose of study is known as population. The population of

my research is the employees of company.

SAMPLE SIZE: All the items consideration in any field of inquiry constitutes a

universe of population. In this research only a few items can be selected form

the population for our study purpose. The items selected constitute what is

technically called a sample. Here out sample size is 50 employees from the

total population to conduct the study.

DATA COLLECTION:

The study uses both primary and secondary data.

Primary data was collected through

Questionnaire

Interview with various employees of

By observation method.

The Questionnaire consists of 18 elements has been administered to sampled

respondents. This was included for simplicity and better understanding of the

respondents keeping their levels of knowledge in mind Secondary data is

collected from.

Annual reports of LG.

Policy guidelines

Journals and books etc...

5. LIMITATIONS OF STUDY:

Each and every task has certain limitations and hurdles in the course of its

performance. But this does not mean that the task should stick up whenever

certain limitations come up. The need is to try one’s level best to solve

incoming limitations. Few limitations of the project are enumerated below:

This study is only limited to this company.

The method of random sampling is suitable for small populations only.

To create good image, respondents may give responses vary from the

facts.

Some respondents hesitated to give the actual situation; they feared that

management would take any action against them.

It does not ensure proportionate representation to all constituent group

of population.

I was able to cover only those employees who were currently working

in the company.

COMPANY PROFILE

HISTORY:-

The trajectory of LG Electronics, its growth and diversification, has always

been grounded in the company ethos of making our customers' lives ever

better and easier-happier, even-through increased functionality and fun. Since

its founding in 1958, LG Electronics has led the way to an ever-more advanced

digital era. Along the way, our constantly evolving technological expertise has

lent itself to many new products and applied technologies. Moving forward

into the 21st century, LG continues to on its path to becoming the finest global

electronics company, bar none.

BRAND IDENTITY

LG is the brand that is Delightfully Smart. "Life's Good" slogan, and futuristic

logo are a great representation of what we stand for.

Global, Tomorrow, Energy, Humanity and Technology are the pillars that this

corporation is founded on; with the capital letters L and G positioned inside a

circle to center our ideals above all else, humanity. The symbol mark stands

for our resolve to establish a lasting relationship with, and to achieve the

highest satisfaction for our customers.

The letters "L" and "G" in a circle symbolize the world, future, youth,

humanity, and technology. Our philosophy is based on Humanity. Also, it

represents LG's efforts to keep close relationships with our customers around

the world. The symbol mark consists of two elements: the LG logo in LG Grey

and the stylized image of a human face in the unique LG Red color. Red, the

main color, represents our friendliness, and also gives a strong impression of

LG's commitment to deliver the best. Therefore, the shape or the color of this

symbol mark must never be changed.

Our logo is the fundamental visual expression used to identify LG. It expresses

the quality and sophistication that is the hallmark of our products. It is simple,

modern and distinctive. Consistent and proper usage of the logo is absolutely

essential. The logo is symbolic of our steadfast reputation for excellence;

therefore, any variation of the logo diminishes the visual identity of LG

Electronics and its products.

VISION OF LG:

Management Based on Esteem for Human Dignity

Human Value each Individual.

Dignity Capitalize on Individual competencies, Respect for personal

aspiration.

Esteem People are of the origin of all values. By developing people we

improve the organizations clear tasks and fair treatment.

LOOKING AHEAD Our Millennium Commitment

On the way to becoming the Best Global Organization we are promising:

DIGITAL TECHNOLOGY LEADERSHIP: The new millennium sees the

birth of the Digital Technology at LGEIL-TL2006 (Technology

Leadership), which offers customers easy to use, very affordable, and

technologically ingenious "Champion Products".

GLOBALISATION: 70 % of its total revenues are from overseas. 54

subsidiaries carry out manufacturing, sales and marketing, logistics,

R&D and the customer services in key geographical sites worldwide.

CREATING VALUE FOR THE PEOPLE: LG extends a warm hand to

contribute to the world community; to touch the hearts of the

customers, friends, shareholders, employees, partners and subsidiaries

at home and abroad. We create value help people realize their dreams of

a better life.

LG Electronics continues to pursue its 21st century vision of becoming a

worldwide leader in digital—ensuring customer satisfaction through

innovative products and superior service while aiming to rank among the

world’s top three electronics, information, and telecommunications firms by

2010.

On our way, we hold tight to a philosophy of "Great Company, Great People,"

underscoring our belief that only great people can create a great company.

LG strives for greatness in what we've identified as our three core capabilities:

Product Leadership, Market Leadership, and People Leadership—each

strength a key part of realizing our growth strategies for "fast innovation" and

"fast growth".

LG Electronics is pursuing the vision of becoming a true global digital leader,

attracting customers worldwide through its innovative products and design.

The company’s goal is to rank among the top 3 consumer electronics and

telecommunications companies in the world by 2010. To achieve this, we have

embraced the idea of “Great Company, Great People,” recognizing that only

great people can create a great company.

CORE CAPABILITIES

Product leadership refers to the ability to develop creative, top-quality

products, using specialized new technologies.

Market leadership refers to the ability to achieve top ranking, worldwide,

thanks to a formidable market presence in countries across the globe.

People leadership refers to the market dominance achieved by selecting and

nurturing talented team players able to internalize and execute innovation

across the board.

OBJECTIVES OF COMPANY

LG Electronics (LG), a major player in the global flat panel display market,

recently announced business strategies and goals for its display business at

IFA International 2009 in Berlin, Germany.

Competition has intensified since the flat panel TV industry has

fully matured,' said Simon Kang, President and CEO of LG

Electronics Digital Display Company, during a press conference at

IFA.

we are confident that focused, localized marketing activities

emphasizing our products, which embody the perfect

harmony of design and technology, will separate us from our

competitors.'

LG has established itself as a premium brand by systematically

focusing on brand marketing activities, for its products which

balance stylish design and smart technology.

The company plans to invest in marketing and will take a

segmented, regional approach. LG plans to reinforce partnerships

with premium distributors and centralize brand marketing

activities in developed markets such as North America and

Europe.

In contrast to assembly line manufacturing, cell assembly allows

one person to assemble a TV from start to finish

LG will maximize its return on invested capital through

outsourcing, innovative manufacturing technology, and an

advanced supply chain management system.

MANAGEMENT SYSTEM

When LG Electronics removed the Circulating Investment Structure of its

affiliated companies (through the launch of a holding company system), this

enabled the holding company to take full charge of investments. Consequently,

LG Electronics has been able to focus on its own businesses while increasing

the overall value of the Company. This corporate governance structure has

laid the groundwork for increasing managerial transparency. Through a

responsible management system comprising of the CEO of LG Electronics and

a Board of Directors, we are taking huge steps in strengthening our

competitiveness at both the domestic and international level, in order to

maximize corporate and shareholder value.

Board of Directors

LG Electronics' Board of Directors maintains independence from its

management and major shareholders. Currently, the Board has a total of

seven directors, four of whom are outside directors. To ensure that external

directors are appointed fairly and independently, the "External Director

Recommendation Committee," comprised of one in-house director and one

external director, nominates external directors following close examination of

their qualifications. These outside directors are then voted on at the next

shareholders' meeting.

Committees

The BOD is supported by three Board Committees. They are the Audit

Committee, the Outside Director Candidate Recommendation Committee and

the Management Committee. The Audit Committee consists of three Outside

Directors, and is responsible for examining corporate financial records and

accounting to ensure compliance with the accounting laws and transparency.

The Management Committee reviews and determines the agendas delegated

by the BOD and ordinary management activities. In 2010, the Management

Committee reviewed a total of 52 agendas.

Evaluation and Compensation

Compensation for the BOD members is made within regulations pertaining to

BOD compensation that has been approved at the General Shareholder's

Meeting. The evaluation of management and executives of LGE is held

annually. Top management and executives are evaluated to determine

whether they have set and achieved challenging goals, whether their job

objectives composed of quantitative and non-quantitative factors were

achieved, as well as their capability through fair and objective process, and

appropriate compensation corresponding to the outcome of the evaluation is

determined.

Key Executives for LG Electronics India Pvt. Ltd.

Mr. Soon H. Kwon

Managing Director and Director

Mr. Y. V. Verma

Chief Operating Officer

Mr. Chandramani M. Singh

Product Chief and Head of Consumer Electronics

Mr. R. Manikandan

Business Group Head of Digital Display & Storage

Mr. V. Ramachandran

Head of Strategy

Compensation as of Fiscal Year 2012.

ORGANIZATION

Take a look at LG Electronics’ organization information, including our global

operations.

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1. Whenever needed I am given guidance on my aspirations by my manager.

Sl.No

OptionsNo. Of

RespondentsPercenta

ge

Total Percentage

1 Agree 45 90% 90%

2 Disagree 3 6% 6%

3 Neutral 2 4% 4%

Total 50 100% 100%

INTERPRETATION:

The response regarding the guidance on his/her aspirations provided

by the manager is analyzed as follows, 90% of respondents are satisfied,

only 6% are not satisfied and 4% are neutral.

2. I have opportunities to express my concerns to my manager.

Sl.No ResponseNo. Of Respondents

Percentage

1 Agree 42 84% 84%

2 Disagree 3 6% 6%

3 Neutral 5 10% 10%

Total 50 100% 100%

INTERPRETATION:

The analysis of the response indicates that 84% of the respondents feel

that there will be certain conditions to express their concerns to the

manager and remaining 6%of the respondents are not satisfied in the

organization and 10% are neutral.

3. I have opportunities to express my feedback through formal mechanisms like ideal junction / small group meetings etc..,.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:

The analysis of the responses indicates that 100% of employees feel that there are opportunities to express their feedback.

4. Sufficient learning Opportunities (On the Job Training, off the Job

Training …etc) are offered by my Manager, to Develop and

improve my necessary skills.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 44 88% 88%

2 Disagree 3 6% 6%

3 Neutral 3 6% 6%

Total 50 100% 100%

INTERPRETATION:


that there will be certain conditions to express their concerns to the

manager and remaining 6%of the respondents are not satisfied in the

organization and 6% are neutral.

5. The culture and environment delight me very well.


Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:

The analysis of the response indicates that 100% of the respondents

feel that the culture and the environment of the organization delight

them very well social.

6. My manager ensures that I am provided with all requisite technical resources (desktop with requisite tools, soft ware etc...) for performing my work.


Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:


that they were provided with requisite technical resources.

7. I am provided flexibility to manage my work life balance by my manager.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 24 48% 48%

2 Disagree 6 12% 12%

3 Neutral 20 40% 40%

Total 50 100% 100%

INTERPRETATION:


that they were provided flexibility to manage work life balance, 12% of

the respondents were not at satisfied level and remaining 40 % are

neutral.

8. I feel respected in my team.


Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:


that they were very much respected in the team.

9. I am provided with all facilities and that I give my best to my

work.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:



10. I feel delighted to work in this organization.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:



11. My circle / team make me feel a part of it.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 45 90% 90%

2 Disagree 0 0% 0%

3 Neutral 5 10% 10%

Total 50 100% 100%

INTERPRETATION:


very happy with their circle/team mates and remaining 10% are neutral

12. My manager encourages team work.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 28 56% 56%

2 Disagree 6 12% 12%

3 Neutral 16 32% 32%

Total 50 100% 100%

INTERPRETATION:

The analysis of the response indicates that 56% of the respondents are

agreed that his/her manager encourages team work, 12% of them are at

a bit of satisfaction level and 32% of the neutral.

13. There is an increased job satisfaction and morale among employees.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 46 92% 92%

2 Disagree 0 0% 0%

3 Neutral 4 8% 8%

Total 50 100% 100%

INTERPRETATION:


that there is an increased job satisfaction and morale among employees

and remaining 8% of the Neutral.

14. I feel there is great relationship between the employees and between the employee and the management.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 33 66% 66%

2 Disagree 2 4% 4%

3 Neutral 15 30% 30%

Total 50 100% 100%

INTERPRETATION:


that there is a great relationship between co-workers and management,

4% of the respondents were not satisfied at that level and remaining 30%

are neutral.

15. The management ensures employee as a valuable asset in the organization.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 28 56% 56%

2 Disagree 2 4% 4%

3 Neutral 20 40% 40%

Total 50 100% 100%

INTERPRETATION:


clearly stated that the management ensures employee as a valuable

asset of an organization, 4% are no satisfied and 40% are neutral.

16. Performance appraisal plays a key role in the organization

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

s

INTERPRETATION:


clearly stated that the management ensures employee as a valuable

asset of an organization.

17. Are you satisfied with performance appraisal system that helps in

developing your career?

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:


satisfied with the performance appraisal systems will develop the

career growth.

18. Incentives should be given for those who complete their project

in time.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:


that there is a great relationship between co-workers and management.

19. Incentives are really necessary for increasing employee morale.

Sl.No Response

No. Of Respondents

Percentage

1 Agree 50 100% 100%

2 Disagree 0 0% 0%

3 Neutral 0 0% 0%

Total 50 100% 100%

INTERPRETATION:


that there is a great relationship between co-workers and management.

CONCLUSION

As they have many clients there should be transfer of employees after

the project completion to another project that is the change of the topics

as the training classes are given to everyone. Training classes helps the

employees to remember the languages and so it will not be difficult to

them when there will be the transfer of the project.

Communication is very good between the employees. They share their

ideas, views and help the juniors when they have any doubts regarding

their tasks. They have outings, centurion meets and many recreation

programmes just to re-energize their employees before they are

assigned into other project.

There is high employee retention in the organization. The employees

are looking out for better opportunities and so there is continuous

process of appointments in the organization the management is taking

necessary steps to keep their employees satisfied.

BIBLIOGRAPHY

BOOKS: -STEPHEN P. ROBBINS: ORGANISATIONAL BEHAVIOUR

FRED LUTHANS: ORGANISATIONAL BEHAVIOUR

KOTHARI C.R: RESEARCH METHODOLOGY

WEB SITIES: -

WWW.GOOGLE.COM

WWW.BUSSINESSRANKS.COM

ANNEXURE

QUESTIONNAIRE

1. Whenever needed I am given guidance on my aspirations by my manager?

(a) Strongly Agree (b) Agree (c) Disagree(d) Strongly Disagree (e) Neutral

2. I have opportunities to express my concerns to my manager?


3. I have opportunities to express my feedback through formal mechanisms like ideal junction / small group meetings etc..,.


4. Sufficient learning Opportunities (On the Job Training, off the Job Training

…etc) are offered by my Manager, to Develop and improve my necessary skills.

http://WWW.BUSSINESSRANKS.COM/

http://WWW.GOOGLE.COM/


5. The culture and environment delight me very well.


6. My manager ensures that I am provided with all requisite technical resources (desktop with requisite tools, soft ware etc...) for performing my work.


s7. I am provided flexibility to manage my work life balance by my manager.


8. I feel respected in my team.


9. I am provided with all facilities and that I give my best to my work.


10. I feel delighted to work in this organization.


11. My circle / team make me feel a part of it.


12. My manager encourages team work.


13. There is an increased job satisfaction and morale among employees.


14. I feel there is great relationship between the employees and between the employee and the management.


15. The management ensures employee as a valuable asset in the organization.


16. Performance appraisal plays a key role in the organization


17. Are you satisfied with performance appraisal system that helps in

developing your career?


18. Incentives should be given for those who complete their project in time.


19. Incentives are really necessary for increasing employee morale.


Emp Satisfaction - LG-1

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