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Transcript of Summer Training Project
PRESENTATION
PRESENTED BY: NEHA SINGLA MBA 2C
ON
INDUSTRIAL TRAINING PROJECT
TITLE
STUDY OF EMPLOYEE SATISFACTION LEVEL At CORPORATE OFFICE (VARDHMAN TEXTILES LIMITED)
CONTENTS SCOPE OF INDIAN TEXTILE INDUSTRY COMPANY PROFILE Introduction to Employee Satisfaction Objectives of the study Review of literature Research methodology Limitations Data analysis and Interpretation Findings Recommendations Conclusion Bibliography
INDIAN TEXTILE INDUSTRY
Textile accounts for 14 % of India’s industrial production and around 27% of its exports earnings.
Industry uses a wide variety of fibers ranging from natural fibers to manmade fibers.
Providing direct employment to an estimated 35 million people, by contributing 4% of GDP and 14% of value addition in manufacturing sector.
It is the second largest employer after the agriculture sector in both rural and urban areas.
Almost all sectors of textile industry have shown significant achievement.
SEGMENTS OF INDIAN TEXTILE INDUSTRY
•Woolen Textile
•Cotton Textiles
•Silk Textiles
•Readymade Garments
•Jute And Coir
•Hand-Crafted Textile Like Carpets
•Man Made Textiles
VARDHMAN TEXTILES LTD.COMPANY PROFILE
Registered office/ corporate office : Chandigarh Road (Ludhiana, Punjab)
Date of incorporation : 27 December, 1962
Listings on Stock Exchange : Bombay Stock Exchange, National Stock Exchange (Mumbai)
The Vardhman Group was setup in 1962
Humble beginnings in 1965 at Ludhiana with a Spinning Mill with an installed capacity of 14,000 Spindles
In the year 1986 the group entered the sewing thread market with its plant at Hoshiarpur.
In the year 1986 Vardhman acquired Mohta Special Steels is known as Vardhman Special Steels, Ludhiana.
Historical Background of Vardhman Group
Vardhman commissioned our yarn unit in 2007 –with an initial capacity of 30000 spindles. The Unit is well on its way of achieving the ultimate capacity of 223416 spindles.
The integrated Unit of the group – Vardhman Fabrics - has also been commissioned in 2007.
The Group is, now, one of the largest textile conglomerate in the country with a turnover of about Rs. 2767 Crores (2009-10).
The Group presently (2009-10) with an installed capacity of 8.59 Lac spindles, 3768 rotors, 900 air jet looms
Listed Companies•Vardhman Textiles Limited (formerly Mahavir Spinning Mills Limited)
•Vardhman Acrylics Limited
•Vardhman Holdings Limited (formerly Vardhman Spinning & General Mills Limited)
Unlisted Companies
•VMT Spinning Company Limited
•Vardhman Yarns and Threads Limited
•Vardhman Texgarment Limited
The “Flame” signifies Growth
The “Stick” symbolizes cotton that is the Basic Raw Material of the Core Product of Vardhman.
The “V” stands for the Vardhman Group.
LOGO OF VARDHMAN GROUP
World Class Textile Organization producing diverse range of Products for the global textile market.
Committed to be a responsible corporate citizen.
“BEING WORLD CLASS SPINNERS BY PROVIDING HIGHEST QUALITY PRODUCTS WITHIN MINIMUM COST”.
MISSION
Vardhman – Rooted in Values, Creating World Class Textiles
•Superior Products, High Standards of Quality and Performance,•Distinctive Competitive Strategies and Highest Integrity and Commitment of the people.
Vision
PRODUCTS
Sewing Thread
ACRYLIC FIBRESTEEL
Fabrics YARN
Chairman and Managing Director Mr. S P Oswal
Managing Director, Vardhman Yarns and
Threads LimitedMr. D L Sharma
Managing Director, Vardhman Acrylic
LimitedMr. B K Choudhary
Executive Director, Vardhman Textiles
LimitedMr. Sachit Jain
Executive Director, Vardhman Textiles ltd. Ms. Suchita Jain
President and Director (Incharge Baddi
operations)Mr. I M J S Sidhu
Executive Director, Vardhman Textiles ltd. Mr. Neeraj Jain
Chief Executive,Vardhman Spinning and
GeneralMilMr. V. K. Goyal
Chief Executive Financial Controller,
Vardhman
Spinning & General Mills Limited
Mr. D.K Sindwani
BOARD OF DIRECTORS
Product/Process Global Partners
Fabric Dyeing and Finishing Takai, Senko, Japan
Fibre and Yarn Dyeing Nihon Sanmo Dyeing Corporation Ltd., Japan
Gassed Mercerized Yarns Kyung Bang, South Korea
Sewing Thread American & Efrid Inc., USA
Acrylic Fibre Marubeni Corporation & Japan Exlan, Japan
GLOBAL INTERNATIONAL ALLIANCE
THE CORPORATE OFFICE
Being in November 1995.
Chairman and Managing Director’s office Managing Director’s office
Executive Director’s office Corporate MIS department
Corporate Finance & Accounts department Corporate Taxation department
Corporate HR & Personnel department Corporate Raw Material dept
Corporate Secretarial department Central Marketing Yarns dept
Corporate Law department Corporate Exports department
Corporate Projects & Purchase department Corporate Internal Audit dept
Corporate Commercial department
Department Head of the department
Corporate MIS Mr. Neeraj Jain
Finance and Accounts, Taxation and
SecretarialMr. Rajiv Thapar
Central Marketing Yarns Mr. Vijay Puniyani
Exports Mr. Harinder pal Singh Rana
Projects & Purchase Mr. D.S. Kalra
Internal Audit Mr. Deepak Sood
Law and Commercial Mr. Rajesh Chopra
EDP & IT Mr. Z.S. Choudhry
HR Ms. Suchita Jain
Raw Material Mr. I.J. Dhuria
Functional departments housed in Corporate Office
The major functions of the department can be explained as follows – •Recruitment
1.Scheme recruitment (on campus and off campus - ET recruitment)2.Direct recruitment
•Salary administration for corporate office and for all employees across the Group falling in M4 and above
•Training and development
•Performance management
•Wage studies (workers)
•Getting the joining formalities done for employees joining in Corporate office
HR DEPARTNMENT
•Exit formalities1.Clearance / no dues forms2.Exit interviews3.Farewell
•Loan applications (general / furniture / vehicle)
•Administration
•Medical insurance (medical and group term)
•Summer trainees
•Handling internal queries / grievance of employees
•Strengths:-1.Good Brand Equity
2. Good technological base with Foreign Collaboration
3. High Quality Standards
4. High Production Capacity
5. Commitment for growth
•Weaknesses:-1.Comparatively high prices
2. Lesser degree of promotional activity
3. Long Hierarchy
SWOT ANALYSIS OF THE VARDHMAN GROUP
•Opportunities:-
1. As brand image is very good ,Vardhman can have some good customers.
2. Strict payments are strengths at times as well as weakness.
3. Customers shall be attracted to buy more and regularly.
4. Shortened hierarchy shall provide hope for better customer service.
•Threats:-
1.Smaller players in the market are using Vardhman’s process to push their product at lower prices.
2. Companies from south are entering into Ludhiana market.
3. Capacity of Yarn Spinning is increasing rapidly in comparison to increase in market size, resulting into the addition of new players.
INTRODUCTION TO EMPLOYEE SATISFACTION
Need of Employee Satisfaction Survey
Rapidly growing organization
High or growing turnover rate
Highly competitive industry
ELEMENTS OF JOB SATISFACTION
Importance of employee satisfaction in an organization
• To identify the factors which influence the Job satisfaction of employees.
• To observe the Human resource development in the Vardhman Textiles Limited at Corporate Office.
•To suggest measures to improve the Satisfaction level of employees.
Objectives of the Study
RESEARCH METHODOLOGY
RESEARCH DESIGNIn my research , Descriptive research design have followed DATA COLLECTIONprimary data. Primary data is collected by Questionnaire.
Sample Design and Size Sample size is 100 employees
Sampling frame:
Sample frame = ALL Employees of different department at Corporate Office Sampling technique
• Snowball Sampling.
• Convenience Sampling.
Limitations of the Study
1. TIME
2. AUTHENTICITY OF FEEDBACK
3. ATTITUDE AND BEHAVIOUR 4. LIMITED KNOWLEDGE:-
Data Analysis and Interpretation
DEPARTMENT NO. OF RESPONDANTS PERCENTAG
E
MIS 7 7
FINANCE 17 17
MARKETING 11 11
EXPORT 15 15
IT 5 5
RAW MATERIAL 11 11
COMMERCIAL 7 7
LAW 4 4
INTERNAL AUDIT 6 6
SECATRIAL 6 6
HR 11 11
Table 4(a).1Belongingness to the DepartmentN=100
WORKING
EXPERIENCE
NO.OF
RESPONDANTS
PERCENTAGE
Less than 2 year 29 29
2-4 year 34 34
4-6 year 15 15
More than 6 year 22 22
Table 4(a).2 Working Experience of an Employee in an OrganizationN=100
80%
20%
Job Suits Educational Qualification and Career Abilities
YesNo
Table 4(a).3 Job Suits Your Educational Qualifications and Career Abilities
N=100
View the job Cumulative sum Percentage
(a) Challenging 49 27.07(b) Responsible 76 41.98(c) Motivating 30 16.57
(d) Secured 26 14.36
Table 4(a).4 View the JobN=100
Job Satisfaction factors
Cumulative sum
Work Environment
206
Salary Structure 405Job security 302Superior Subordinate Relations
338
Motivational factor
394
Leadership 455
. Table 4(a).5 Rank the attributes of Job Satisfaction
N=100
Level of satisfaction
-2Highly
dissatisfied
-1 Dissatisfied
0 Neutral
1 Satisfied
2 Highly
Satisfied
Total Mean
Work
Environment
0 0
7-7
23 0
6161
918 72 .72
10
0.2
0.4
0.6
0.8
MEAN 0.720000000000001
Level of Satisfaction
Work Enviornment
ME
AN
Table 4(a).6 Level of Satisfaction Regarding Work Environment
N=100
Level of satisfaction
-2Highly
dissatisfied
-1 Dissatisfie
d
0 Neutral
1 Satisfie
d
2 Highly Satisfie
d
Total Mean
Team Spirit,
Leadership
Skills
0 0
6-6
27 0
5858
918 70 .70
Table 4(a).7 Level of satisfaction regarding the Team Spirit, Leadership Skill in your department
N=100
Level of satisfaction
-2Highly
dissatisfied
-1 Dissatisfi
ed
0 Neutr
al
1 Satisfi
ed
2 Highly Satisfi
ed
Total Mean
Job
security
0 0
1-1
30 0
4848
2142
89 .89
0
0.2
0.4
0.6
0.8
1
MEAN 0.89
Level of Satisfaction
JOB SECURITY
MEA
N
Table 4(a).8 Satisfaction level towards Job SecurityN=100
Yes
No
46 47 48 49 50 51 52 53
Satisfaction Regarding Present Po-sition of the Company
Number of responses
Table 4(a).9 Satisfaction Regarding Present Position in the Company
N=100
65%
35%
Company Clearly Communicates its strategies, goals to employees
YesNo
Table 4(a).10 Company clearly Communicates its strategies, goals To Employees
N=100
71%
29%
Company spends Resonable Time, Ef-forts, Money in the development of
Employees
YesNo
Table 4(a).11 Company spend reasonable time, efforts, money in Human Resource Development of Employees
N=100
Yes No0
10
20
30
40
50
60
70
80
90
100
Quality Of Training given to the Employees
Number of responses
Table 4(a).13 Quality of Training and Development given to Employees
N=100
Facilities Cumulative sum Percentage
(a) Housing
facilities
11 5.61
(b) Medical facilities
52 26.53
(c) Life Insurance facility
55 28.06
(d) Transport
facilities
17 8.67
(e) Salary Structure
31 15.81
(f) Retirement Benefit
22 11.22
(g) Education facility
8 4.08
Table 4(a).14 Kind of facilities are provided to employeesN=100
Facilities -2 -1 0 1 2 Total Mean
Leave 3 -6
22 -22
300
4545
00 17 .17
Housing 5-10
30-30
540
77
00 -33 - .33
Life
Insurance
1-2
12-12
47 0
4040
00 26 .26
Education
al
Assistanc
e
5-10
28 -28
490
1919
00
-19 -.19
Retiremen
t
6-12
27 -27
46 0
19 19
0 0 -20 -.20
Health 3-6
27-27
290
3939
24 6 .06
Transport 6-12
30-30
450
1818
00 -24 -.24
Table 4(a).15 Satisfaction level towards facilities Provided in the Organization
N=100
Level of Satisfaction
-2 -1 0 1 2 Total Mean
Monetary
Incentives
7 -14
31-31
35 0
2121
612 -12 -.12
Growth and
Opportuniti
es
2-4
27-27
350
3333
36 8 .08
Performanc
e Appraisal
4-8
22-22
320
3838
48
16 .16
Table 4(a).16 Level of Satisfaction derived from various factors
N=100
Level of satisfaction
-2Highly
dissatisfied
-1 Dissatisfi
ed
0 Neutr
al
1 Satisfi
ed
2 Highly Satisfi
ed
Total Mean
Interperso
nal
Relations
0 0
1-1
21 0
7272
612 83 .83
0
0.2
0.4
0.6
0.8
1
Mean 0.830000000000001
Level of Satisfaction
Interpersonal Relations
mean
Table 4(a).17 Level of Satisfaction regarding Interpersonal Relations at Work
N=100
84%
16%
Your Superior Provide You Proper Feedback About Your Work
YesNo
Table 4(a).18 Superior provide you proper feedback about the work
GRAPH
Yes
No
27
73
Feel Stress with the Job
Number of responses
Table 4(a). 19 Feel any stress with the Job.
Table 4(a) 20. Overall Satisfaction level with the Job
Level of satisfaction
-2Highly
dissatisfied
-1 Dissatisfie
d
0 Neutra
l
1 Satisfie
d
2 Highly Satisfied
Total Mean
Overall
Satisfaction
1 -2
5-5
41 0
5050
36 49 .49
FINDINGS
CONCLUSION
SUGGESTIONS AND RECOMMENDATIONS
Company needs to revise the pay scale of the employees.
Timely and adequate increments should be there for the employees.
Organization should provide better Housing, Retirement benefits, Educational Assistance, Leave, Health, transportation facilities.
Employee motivation should be encouraged.
Interpersonal relations should be more developed. Superior subordinate relations should be fine and hierarchy should be shortened
Time to time profile changes for the employees
There should be job rotation for the employees in all dept , so the employees can know all other activities
Increase staff level salary taking into consideration current inflation
THANK Y
OU