EMPLOYEE SATISFACTION-VIJAY TEXTILES.doc

EMPLOYEE SATISFACTION

A STUDY ON EMPLOYEE SATISFACTION

WITH REFERENCE TO

Vijay Textiles Private Limited, Hyderabad.

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TABLE OF CONTENTS

CHAPTER CONTENT

1 INTRODUCTION

2 INDUSTRY POFILE

COMPANY PROFILE

3 RESEARCH METHODOLOGY

NEED FOR THE STUDY

OBJECTIVES OF THE STUDY

SCOPE OF THE STUDY

LIMITATIONS OF THE STUDY

REVIEW OF LITERATURE

RESEARCH DESIGN

4 DATA ANALYSIS

&

INTERPRETATION

5 FINDINGS

& SUGGESTIONS

6 BIBLIOGRAPHY

QUESTIONNAIRE

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CHAPTER -1

INTRODUCTION

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INTRODUCTION

"People don't leave their jobs, they leave their managers."

Although committed and loyal employees are the most influential factor to becoming an employer of choice, it's no surprise that companies and organizations face significant challenges in developing energized and engaged workforces. However, there is plenty of research to show that increased employee commitment and trust in leadership can positively impact the company's bottom line. In fact, the true potential of an organization can only be realized when the productivity level of all individuals and teams are fully aligned, committed and energized to successfully accomplish the goals of the organization.

As a result, the goal of every company should be to improve the desire of employees to stay in the relationship they have with the company. When companies understand and manage employee loyalty - rather than retention specifically - they can reap benefits on both sides of the balance sheet i.e., revenues and costs.

On the revenue side of the balance sheet, loyal and committed employees are more likely to go "above and beyond" to meet customer needs and are highly motivated to work to the best of their ability.

On the cost side, loyal employees stay longer, resist competitive job offers, do not actively look for other employment and recommend the company to others as a good place to work. These four behaviors positively influence the cost side of the balance sheet.

In other words, rather than focusing only on retention (that is, trying to retain employees who have already decided to leave), organizations should proactively recognize the benefits of understanding, managing and improving employee satisfaction. The most successful organizations are those that can adapt their organizational behavior to the realities of the

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current work environment where success is dependent upon innovation, creativity and flexibility.

One of the key steps to understanding and improving employee satisfaction is by acknowledging the importance of the following factors in building loyalty and satisfaction:

Broadly-defined responsibilities rather than narrowly-defined job functions

Effective and regular performance evaluations, both formally and informally

A corporate emphasis on employee learning, development and growth

Wide-ranging employee participation in the organization as a whole.

Typically, a combination of factors influences employees' decisions to stay at their current job. Contributing factors include satisfying work, a sense of job security, clear opportunities for advancement, a compelling corporate mission combined with the ability to contribute to the organization's success, and a feeling that their skills are being effectively used and challenged. Specifically, employees who enjoy their work identify themselves with their employer and perceive that the company is flexible regarding work and family issues also intend to stay with the organization.

In particular, consider the following elements of effective strategies designed to build satisfaction and retain key employees:

Include opportunities for personal growth and invest heavily in the professional development of the best people in the organization.

Provide employees with well-defined career paths (including a succession plan), mentors and tuition reimbursement for job-related education.

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Train employees, even if it makes them more attractive to the competition. Without seeing an opportunity on the horizon, few high potential employees will stay with a company and allow themselves to grow stagnant.

Acknowledge non-work priorities by recognizing and responding to employees' needs for greater balance in their lives, since employees will develop loyalty for organizations that respect them as individuals, not just as workers.

Definitions of Employee Satisfaction:

The term Employee Satisfaction was brought to limelight in 1935.the studies conducted prior to 1933 by Hoppock observed that Employee Satisfaction is combination of psychological, physiological and environment circumstances that cause a person to say “I am satisfied with my job”.

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Some of the definitions of Employee Satisfaction:

1. Employee satisfaction is defined as “a pleasurable or positive emotional state resulting from the appraisal of one’s job or job experience”.

2. Employee satisfaction is “a set of favorable or unfavorable feelings with which employees view their work”.

3. Employee Satisfaction will be as “the amount of overall positive affect (or feelings) that individuals have towards their jobs.

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CHAPTER -2

INDUSTRY PROFILE & COMPANY PROFILE

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Industry Profile

Indian Garment Industry- an Overview

The Garment industry is one of India's largest foreign exchange earning industries. This accounts to 16% of the country’s total exports earnings. As per the 1996 Indian textile exports records total garment export value was Rs.35,000 crores of which ‘apparel’ occupied over Rs14, 000 crores.

It has been estimated that India has 30,000 readymade garment manufacturing units and around three million people are working in this industry. Today garment export business grows, with the help of enthusiasm shown by the foreign buyers at a high level. Today many leading fashion labels are being associated with Indian products. India is increasingly being looked upon as a major supplier of high quality fashion apparels and Indian apparels are highly appreciated in major markets internationally. The credit goes to the exporters and the government which spontaneously helping in liberalizing the export policies and tax reduction methods.

Consistent efforts towards extensive market coverage, improving technical capabilities and putting together an attractive and wide merchandise line has paid rich dividends. But till today, our garment industry is dominated by sub-contractors and it consists mainly small units having 50 to 60 machines. India's supply base is medium quality, relatively high fashion, but small volume of business.

Recent recession in Europe and the South Asian currency crisis have also contributed their own bits to the decimating Indian exports. Though these are expected to fizzle out soon, there is no reason for complacency on the part of Indian exporters or of the garment industry. The industry will soon competitively face the short falls faced with regard short of quotas, tariffs, etc.

Thus the need of the hour is to enlarge both manufacturing as well as the marketing base. Inculcation of a spirit of innovation by way of research and development and tapping new markets

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especially in South Africa, Central Africa, East European countries, Latin America and Australia is also mandatory for export growth.

The Size of India's Textile industry.

The textile industry in India covers a wide gamut of activities ranging from production of raw material like cotton, jute, silk and wool to providing high value-added products such as fabrics and garments to consumers.

The industry uses a wide variety of fibers ranging from natural fibers like cotton, jute, silk and wool to man made fibers like polyester, viscose, acrylic and multiple blends of such fibers and filament yarn.

The textile industry plays a significant role in Indian economy by providing direct employment to an estimated 35 million people, by contributing 4 per cent of GDP and accounting for 35 per cent of gross export earnings. The textile sector contributes 14 per cent of the value-addition in the manufacturing sector.

Textile exports during the period of April-February 2009-2010 amounted to $11,698.5 million as against $11,142.2 million during the same period in the previous year, showing an increase of around 5 per cent.

Estimates say that the textile sector might achieve about 15 to 18 per cent growth this year following dismantling of MFA.

Now that the quantitative restrictions are all gone in this huge industry, has it changed the way the garment manufacturers are operating these days? Are the foreign orders for Indian garment exporters going up?

"Nothing dramatic has happened in the textiles exports as of now. There is no deluge of orders. But it I think it will take somas time for the liberated textiles sector to boom," points out K Baronet, a leading exporter of knitted garments from Torpor in Tamil Nadir.

Exporters like Baronet do not expect huge orders in the immediate months.

"But we have ramped up our production capacities and are waiting for the big business to come by," he said. Textile exporters from the garment hot-spot of Torpor are keeping their fingers crossed.

Many of them as bullish on new export enquiries that have began to trickle in.

"The rush of garment exports in the quota-free regime has not yet happened in the Indian textiles sector. That is because the normal product and export cycle of garments is around 60 days. We expect increased bookings by April," says R Shiva, executive director of the Torpor-based garment factory Classic Polo.

He says in the liberalized textile era, companies will have to restructure their production capacities to meet export orders.

Textile exporters anticipate huge orders from major American stores and brands. "The biggest change is that large textile firms within India are buying small-scale garment manufacturers to shore up their production facilities," says Torpor-based textiles consultant Sinai Raja.

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"In the months to come, companies will have to increase the production capacity to face changed global textile trade," he points out.

Already, the Gujarat-based Super Spinning Mills Ltd has moved in to acquire two sick textile mills in Madura. To increase the company's yarn production capacity and to cater to the united States export market.

But there are many challenges ahead. "The competitive advantage that India enjoys now is the low cost of production here. But the real challenge is to develop and offer value-added services to foreign customers, especially in countries like America," says Raja.

Consultants like Raja also add that the textile industry in India will need greater supply-chain efficiencies and flexible labor laws to succeed in the world market.

The Union government has repeatedly said that whatever the state was expected to do for the textile industry have already been done.

Thus, it is now the industry's turn to step into the new world order in the unshackled textiles global market.

RECENT TRENDS

Plans to boost textile exports to $10 bn by 2010

The Union government is planning to boost the export of textiles to the tune of $10 billion by 2010, said EVKS Elangovan, Union minister of state for textiles. The minister while speaking on the sidelines of a week-long jute exhibition informed that the five-year Technology Up gradation Fund Scheme (TUFS) launched in 2003 would come to an end in 2007.

However, the government may extend TUFS, as the scheme had evoked overwhelming response in the sector. He also added that the Centre would consider the expert's suggestion for letting out treated effluent water from the Torpor dyeing and bleaching units in the sea by setting up an exclusive pipeline. A fixed export target for jute products has been set by the government at Rest 5,000 crore by 2010 against the present annual export of Rest 1,000 crore.

The government under the joint venture with state government and private entrepreneurs was going to establish five textile parks, including one at Cuddlier, Palladium and Perunthurai at a cost of Rest 50-100 crore.

Jute, once popular in West Bengal and its surroundings, has now spread all over Tamil Nadir, Andhra Pradesh and Karnataka.

Tirupur may lose its position in global market.

Global and domestic exporters are concerned over the fall-out of frequent labor unrest and the indefinite closure announced by around 700 dyeing units in Torpor, in the wake of the effluent treatment and discharge problem faced by them. If a solution is not found quickly, Torpor runs the risk of losing its premier position in the global knitwear market, exporters said.

The knitwear hub contributes about $2 billion of the total export of $8.2 billion.

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In knitwear production, its share is 70 per cent of the country's total production of $3.5billion. "If this situation continues, the foreign buyers will shift their orders to our competitors like China and once the business goes out of India, it is very difficult to regain the lost markets",

All the investments made to the tune of more than Rest 25,000 crore in the past couple of years will become idle which in turn will hit the banks which have financed the exporters."This apart, it posed threat to continued employment of about 500,000 people, both direct and indirect besides affecting the interest of farmers with reduced consumption of cotton", he added. To put an end to this environmental crisis, Tirupur units have decided to implement a marine discharge system.

"The Marine Discharge Project can be implemented as a public and private partnership and we could execute this project as we did in New Torpor Area Development Corporation Limited a year ago", industry sources said.The industry is pitching for a contribution of Rest 600 crore as grant from the Centre for implementing this project and to find a permanent solution for the dyeing units' problem in the region.

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COMPANY PROFILE

VIJAY was originally incorporated on 2nd February 1990 in the name and style of Vijay Textiles Private Limited. The Company was subsequently converted into a Company. Vijay Textiles Limited and a fresh certificate of incorporation was obtained on 17th June 1994.

VIJAY is an existing profit making company. Initially the company was in the business of trading in textiles. The major activity consisted of purchase of Polyester Yarn from Reliance Industries Limited converting the Yarn into Grey Cloth at Bhiwandi through job contracts and converting the Grey Cloth into finished fabrics through textile processors. The fabrics were marketed under the brand name "VIJAY" throughout India.

With the brand name established in the major markets and having created the necessary sales network the Company ventured into full fledged manufacturing of processed textiles by acquiring a running textile processing unit from M/s S.K. Textile Industries on 30th June 1993. The total sale consideration paid for the acquisition was Rs. 8 50 000/-for the land admeasuring 2 acres together with all the rights easements equipments structures. The land was purchased on the basis of negotiated price. The sale was registered vide deed no. 5688 of book 1993 by the Registrar Rangareddy District Andhra Pradesh. The above consideration was valued as follows:

Land--2 acres @ Rs. 4 00 000 per acre.

8 colour flat bed and 75 KVA Generator--Rs. 50 000.

The original and residual life of the above equipments is 5 years with normal maintenance.

The Company's facilities for manufacture of processed textiles are located at APIIC Industrial Estate Khattedan near Hyderabad on freehold land of 2 acres. The installed capacity is 172 lacs metres. This installed capacity is expressed on the basis of product mix comprising of 96 lac metre per annum of printed polyester shirting and 76 lac metre per annum of dyed polyester shirting. However the capacity utilisation will constantly vary depending on the product mix chosen as each blended variety viz. trilobal Swiss cotton jersey and boskey require different processing time. The Company proposes to manufacture more of blended fabrics as the margins are higher in these varieties.

The Company is presently operating ala capacity of 5-6 lac metres per month. The Company's Corporate Office and Godown is situated at the prime location "Surya Towers" in Secunderabad.

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http://money.newkerala.com/company-profile-id-16020114.00.html#%23




In the very first year of manufacturing activity i.e.1993-94 the Company has achieved a Post Tax Profits of Rs. 98.03 lacs on turnover of Rs. 1304.88 lacs. The major factors that has contributed for the tremendous increase in the sales for the year ended 31.3.1994 over the year ending 31.3.1993 are

i) The Company's manufacturing activity commenced from September 1993 onwards which have yielded higher margins. Prior to that the Company was carrying on only trading activity.

ii) The Company was able to fully meet the demand for fabrics of the desired designs required quality and quantity at a competitive price during the festive season of Pongal in January 1994.

The Company during 1993-94 concentrated mainly on 100% Polyester Fabrics and Grey Fabrics. This product mix was subsequently shifted in favour of Blended Fabrics which yield substantial margins. This is reflected in the half year results of the Company ended 31st December 1994. The Company has achieved Profits After Tax to the tune of Rs. 212.26 lacs on a turnover of Rs. 1536.58 lakhs.

Our vision is to take up new challenges and implement them with the highest quality standards. The Group also specializes in the children’s garments and bottoms sector.

It is noteworthy to mention that Vijay Textiles Ltd have been award the ISO 9002 Certification in May 2001 and have subsequently upgraded to the ISO 9001-2000 Certification.

Management

The Group is headed by Mr. Vijay Kumar Gupta, designated as the Chairman and Managing director. He has three decades of rich experience in the garment industry at various levels.

Mr. Vijay Kumar Gupta is ably supported by a team of talented and dedicated professionals from the garment and allied industries.

The Group’s progressive HR policies and welfare programmes ensure a transparent, productive and growth oriented environment to the 1300 plus employees who play a key role to the success enjoyed by the organization as a prominent exporter of garments.

Social accountability

At Vijay Textiles Ltd every employee is treated with great care. Apart from a great salary structure they benefit from ESI, PI, and Gratuity etc. Vijay Textiles Ltd is proud that some of the employees have put in more than 19 years of service that speaks a lot about the groups’ commitment to their employees. The group also strictly believes in the ‘No Child Lab our’ Law.

Environmental Accountability

Vijay Textiles Ltd maintains high safely standards, and not to forget the Effluent treatment plant, which plays a big role in their commitment to preserving the delicate eco-system.

Suppliers14


Over the years Vijay Textiles Ltd has established a reliable and strong support network for all its supply needs. Nearly 500 looms are controlled and managed across South Indian towns such as Salem, Nagari, Coimbatore and Cannanore for production of power loom fabrics of various yarn counts.

Fabrics are also procured from reputed mills such as BVM and Arvind Mills- Ahmedabad, Nahar- Punjab, Velcord- Mumbai and Premier Mills- Hosur.

All Procurements are made from the above firms in accordance with predetermined quality standards and regular checks are conducted to ensure accordance of the same.

Domestic Market

The Group has recently forayed into the booming domestic apparel industry by launching its own brands Indus Valley (men’s and women’s clothing) and Sherwood (kids range) in the local market. The brands are stocked and marketed in a company owned exclusive outlet and also at various leading garment and lifestyle stores.

The products promoted under these brand names have already gained a tremendous response from the domestic market.

Infrastructure

Machinery:

Latest world class machines from Durkopp Adler of Germany , Juki, Tajima and Brother of Japan have been installed at the manufacturing units for an installed capacity of 1,40,000 garment units per month.

800 sewing machines including special purpose machines have been installed for quality production i9n large volumes.

Two TAJIMA computerized Embroidery Machines with 20 heads each, A BARUDAN computerized Embroidery Machine with 20 heads each , A pocket welting machine for cut pockets from Durkopp Adler, Germany and CAD machine from Gerber, USA for pattern development , complete sophisticated machinery set up in the factories of the East West Group . We have recently added a TAJIMA Embroidery @ sequin attaching machine.

As a matter of policy and commitment to quality production, machineries at the units are replaced every 3 years.

Warehouse

The company has a centralized warehousing, cutting and packing facilities installed at one of its units. Standard processes, strict adherence to quality norms and regular maintenance is carried out at the warehousing end as well.

Laundry

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To cater to the ever growing and complex needs of the market in terms of washes and finishes a modern and well equipped laundry is set up with a processing capacity of 1, 00,000 garments per month. Varied wash procedures based on client needs such as stone wash, sand wash, enzyme wash, golf wash etc are done here according to specifications.

It is to be noted that the manufacturing facilities and machineries at the units have been inspected and approved by some of the largest garment manufacturers in the United States and the European Union.

Products

Vijay Textiles Ltd today caters toe extensive market requirements and its product range comprises men’s wear, ladies wear and kids wear. The range of products are produced and exported according to the specifications of the International fashion labels.

Purchase procedure:

A systematic procedure for purchase of raw materials helps in buying materials quickly with consistency. In general, purchase procedure of an organization includes the following aspects.

RECEIVING PURDHASE REQUISITION:

The purchase department cannot buy the materials on its own as it will not be aware of what materials are required, their quantity, quality and other details. Therefore, it will have to be intimated about the materials required by those departments which are in need of materials. This is done through purchase requisition. The purchase manager comes to know the details of materials required by the concern through the purchase requisitions. Purchase requisition is prepared by the store keeper for materials requirements which are not available in the store. This requisition has to be approved by head of the department in addition to the head of department in person who is originating the requisition.

STUDUING THE MARKET AND CHOOSING THE SUPPLIER

The purchase department generally maintains a list of suppliers and other details for each type or group of materials. Tenders / quotations may be invited from these suppliers. The comparative statement of various quotations is to be prepared and the best supplier offering most favorable terms should be selected. When selecting a particular supplier, the purchase departments supply of required quantity.

Reliability for supply of quantity

Price quoted

Financial position of the supplier

Terms of payment

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Reputation of the supplier

Discounts offered

ISSUING PURCHASE ORDER AND FOLLOWING UP OF DELIVERY SCHEDULES:

Once the supplier is selected the purchase order is to be prepared. The purchase order is the written commitment from purchase department to buy the materials and authorization to the supplier to supply materials. It is the contract between the buyer and seller for stated terms and condition. The supplier is committed to supply and make payment. It is also an authorization to goods receiving departments to accept the invoice for payment to the supplier.

Generally, five copies of the purchase order are prepared and used as follows:

One copy is sent to the supplier.

The purchase department retains one copy.

One copy is sent to the store keeper/department, which has requisition materials.

One copy is sent to the receiving department.

One copy is sent to the accounts department.

The purchase order provides detailed information to the supplier regarding price, quantity, delivery terms, etc. It reduces the purchasing and clerical work into a routine.

RECEIVING AND INSPECTION OF MATERIALS:

In large organization there may be a separate department for receiving the materials. But in this organization, this may be entrusted to the store keeper.

FUNCTION OF RECEIVING DEPARTMENT:

Keeping purchase order files in a systematic way.

Receiving and unpacking of materials sent by supplier under various challans.

Verifying the materials received by comparing with purchase orders. This includes checking quantity, quality, and physical condition of material.

GOODS RECEIVED NOTE:

Preparing a goods received note (GRN), entering the details of materials received for the information of all those concerned with materials.

Generally, five copies of goods received are purchase and used as given below:

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One copy is retained by the goods receiving department.

Four copies are to the store keeper along with materials. The store keeper will verify the entries with actual goods Countersign them and will send one copy to the purchase department; one copy to the account department; one copy to be department which initiated the requisition and one copy is retained by the store keeper.

VERIFYING AND PASSING SUPPLIERS INVOICE FOR PAYMENT AND DEDUCTION OF TDS:

Based on goods received note, purchases are verified and a payment is made to supplier. When the invoice is received from the supplier, it is sent to the accounting department to check the authenticity as well as accuracy. The quantity, price and amount received are checked with reference to purchase order and goods received note. If everything is found in order, the accounting section approves the invoice for payment and the cashier makes the payment as per the agreed.

TAX DEDUCTED AT SOURCE (TDS):

In certain specified case of income, tax should deduce at source by the person responsible for making payment of such income. As per rule, while making payment to the supplier TDS is deducted from the payment at a certain rate and the actual amount is only paid to the concerned supplier.

Payment to contractors

Tax deduction at source on commission and brokerage

Tax deduction at sources on rent

Tax deduction at sources on fees for technical or professionals services

SALES DEPARTMENTS:

Selling is most characteristic feature of the modern marketing system. It is important not only for increasing the profits of businessman but also for making the goods and services available to the consumers. The main object of production is to sell the goods produces. The efficiency of marketing efforts can be measured only from the volume of sales affected y a businessman.

According to the sec (1) of the sale of goods act, a contract of sale is “a contract where by the seller transfers or agrees to transfer the property in goods to the buyer for a price’’. In simple sense, sale means any transfer of property in goods by one person to another cash deferred payment for any other valuable consideration.

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SALES PROCEDURE:

REGISTRATION

LETTER OF CREDIT

PROFOMA INVOICE

PRODUCTION OF GOODS

SHIPMENT OF GOODS

NEGOTIATION OF DOCUMENT

SECURING PAYMENT

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REGISTRATION:

Exporting involves lot of formalities and it is a lengthy and complicated process. An exporter is registering his business with various government agencies. Some of the main steps are to decide the nature of business, to open a bank account, to fox credit limit, to obtain fax facility, to obtain code number etc.

LETTER OF CREDIT:

A letter of credit is a payment term generally used for international sales transactions. It is basically a mechanism, which allows importers/buyers to offer secure terms of payment to exporters/sellers in which a bank gets involved. The technical term for letter of credit is ‘documentary credit’. The idea in an international trade transaction is to shift the risk from the actual buyer to a bank. Thus the process works both in favor of both the buyer and seller.

PROFOMA INVOICE:

After opening letter of credit the exporter gives a quotation or an offer for sale to the foreign buyer. It is usually in the form of profoma invoice. This gives information regarding.

Name and address of the buyer or consignee

Description of goods to be sold

Price

Period of delivery

Mode of payment

Condition of sale and

Other provision such as packing specification, Concessions or discount if any, etc.

The customers of essay exports i.e., importer plays an order for preparing sample garments mentioning type of fabric, cooler of the garments, type of print and specimen of embroidery and wash care instructions and grams per meter of the garments.

Based on the above the sample department of essay exports develop the sample and sent for approval, any further correction by the buyer is also carried out and the specimen garments is prepared

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which is called prototype then price is quoted for various size small, medium large of the prototype on a format which is called preformed invoice.

When a preformed invoice is accepted by the buyer, it becomes a confirmed order and it is a signal for the exporter to proceed with the formalities connected with the exporter of the goods mentioned.

PRODUCTION OF GOODS:

The next steps in the processing of a sales order are to make arrangements for production of the goods. The exporter if he is a manufacturer should then make arrangements for the productions of the item ordered by the buyer. Once the goods are ready for shipments they should be packed and marked properly.

If the buyer has given specific instructions about packing and marking they should be followed accordingly. Marking should include the shipping marks of the consignee, the part of destination, measurements, the country of origin etc.

SHIPMENTS OF GOODS:

Then the exporter may have top arrange for booking of shipping space in advance of actual sending of goods. Shipping is the most commonly used method of dispatching goods to a foreign country. Goods are also sent by air or sea good can be shipped out of India only after obtaining the customs clearance. To obtain the customs clearance, the exporter should submit bill in the prescribed form. The shipping bills should be accompanied by the following documents:

Contracts with the overseas buyer in original

Invoice of the goods

Packing list

A profoma showing details of drawback of duty if any claimed

A copy of the letter of credit if any

The customs authorities verified the goods and scrutinize the shipping bill and other requisite documents and if satisfied, they put it for export subject to the physical examination of the cargo by the customs staff. After finishing all the customs formalities, the shipping company issues a shipping order to the exporters when it agrees to carry the exporters’ goods. The shipping order is a document containing instructions to the captain of the ship to accept goods on the board the ship from the exporter or his agent. Then, the credit worthiness of the importer should be thoroughly verified.

NEGOTIATION OF DOCUMENTS

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Once the goods have been physically loaded on board the ship, the exporter should arrange to obtain payment for the exports by negotiating the relevant documents through banks. A complete set of documents submitted for the purpose of negotiation is called “negotiating set of document” which usually consists of the following.

Letter of credit

Commercial invoice together with the packing slip

Certificate of origin

Marine insurance policy in duplicate

GR- 1 from – duplicate and triplicate

Bill of lading/air way bill incomplete set.

COMMERCIAL INVOICE:

It is a document prepared by the exporter. It gives details of the goods shipped, their description, the shipping marks, the unit and total value as the case may be. Based on the contract, the number and date of the bill of lading as well as the name of the ship cargo. The invoice should be made out of in the name of the buyer mentioned in the LC i.e. letter of credit.

CERFICATE OF ORIGIN:

Certificate of origin states the country in which products under export were original produced manufactured. It is quite likely that the goods produced in a particular country attract preferential tariff rated in the foreign market at the time of importation or it may be that goods produced in a particular banned for import in the foreign market. The certificate of origin helps the buyer in adhering to the import regulations of the country.

MARINE INSURANCE:

In case the contract with the foreign buyer is on C.I (i.e. cost and insurance) or C.I.F. (i.e. cost, insurance and freight basis), the exporter has to make insurance cover against all the risks of damages to or loss of goods during the sea voyage or airway for getting the insurance cover the exporter has to submit an application describing the goods and mentioning the name of ship.

On which the goods are located as well as the value of the goods for application the insurance company issues a policy in the name of the exporter and endorsed in bank. Sometimes, the insurance may also be taken by the buyer as it is based on the contract between the two.

BILL OF LADING:

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The bill of lading is a receipt given by the shipping company for the goods loaded on a particular ship. It is one of the most important documents in the process of exporting because it carries with it the legal title to the goods shipped on board the vessel indicated there in.

It gives broad description of goods, the quantity of goods, the total number of packages, gross and net weight, the part of shipment, the part if discharge, the name of the ship and the amount of freight to be paid in case of already prepaid or freight to be collected. The date on the bill of lading is highly significant because it is the one, which is taken as the date of the shipment of goods and should therefore be within the validity date given documentary letter of credit.

BILL OF EXCHANGE:

Submitting a complete set of negotiable document to the negotiating bank through which the documentary letter of credit has been advised is the first step in the negotiation or procedure. Where all the terms, and conditions of the letter of credit has been complied with by the exporter while submitting his documents to the negotiating bank, the documents are deemed to be clean. The letter of credit opened by the buyer through his bank authorizes drawing a bill of exchange against which payment will be made by the opening bank on behalf of the buyer, provided the terms and conditions specified in the letter of credit are complied with.

A bill of exchange is a draft drawn by the negotiating bank on the opening bank or the buyer as the may be, and is an instrument of payment, which negotiable. The drafts drawn are of two types. One is sight draft.

SECURING PAYMENT:

The exporter can resort to a number of alternatives for securing payment of export dues from the importers. This depends on his contact with the importer. In this concern, a bill of exchange is prepared for invoice amount thus two set of documents containing bill of exchange, invoice, negotiable copy of the bill of lading is presented to the bankers along with letter of credit. The bankers of essay exports scrutiny the document and credit the invoice amount in local currency.

EXPORT COUNTRIES:

This concern exporting (i.e. sales) textiles & garments to the following countries namely,

1. Germany 3.USA 5.Italy

France 4.Japan 6.Australia

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CHAPTER -3

RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research

problem; it may be understood as a science of studying how research is done

scientifically. Thus where we talk of research methodology we not only take

of research method, but also consider the logic behind the methods we use

in the context of our research study and explain why we are using the

particular method.

NEED FOR THE STUDY

Why Measure Employee Satisfaction

A company is only as strong and successful as its members, its employees, are. By measuring employee satisfaction in key areas, organizations can gain the information needed to improve employee satisfaction, retention, and productivity. However, a recent study by the Society of Human Resource Management (SHRM) indicated that often the HR department's perceptions of employee satisfaction versus the true measure of employee satisfaction are not always in sync.

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Employees who aren’t satisfied with their jobs are very likely to leave. If they don’t leave they can become a source of bad morale and do a great deal of harm in the organization. In many cases employers without proper data will assume the wrong reasons for employee dissatisfaction. Many bosses will automatically think that money is the top reason for leaving a job. Wouldn’t it be better to have real data and react accordingly?

Surveying employees on a regular basis is a great way to stay in touch with the pulse of the business. Before launching a survey though it is important to establish the ground rules.

Many employees will be unwilling to express their honest feelings if they think they will be singled out. Make sure that the surveys are conducted with anonymity. Be certain to have the support of company management all the way to the top. Employees want to know that the leadership is behind the survey and that their responses will be taken seriously.

OBJECTIVES OF THE STUDY

Since this has been a growing company in Pharma Sector, I wanted to check out levels of satisfaction before coming up with new policies to take future course of actions. I was given the task to understand the various aspects related to Employees satisfaction in the organization.

Vijay Textiles also wanted to make out an external survey in indentifying the benefits other company offers to its Employees and compare those things along with the benefits offered by the company.

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Organization also wanted to know Employees understanding of company’s mission and vision statement.

Company also wanted to check Employees satisfaction levels with their team leaders, with the Management and within the team members.

Some of the objectives that are identified were:

To measure Employees satisfaction on Compensation and Benefits.

To find out the expectations of Employees from Management.

To compare the desired satisfaction with the actual one.

To compare the satisfaction in different levels i.e. female and male Employees, juniors and seniors and within different teams.

SCOPE OF THE STUDY

The study covers all levels of Employees and various aspects of Employees like: Identifying Employees attitudes towards various attributes at work place. This study gives us an insight of how Employees see and perceive about Organization.

Interpersonal relations, Opportunities for career growth, Compensation and benefits, Training and development, Working conditions, Communications,

These aspects were taken into consideration to measure Employee Satisfaction at Vijay Textiles Ltd.,.

Dimensions of employee satisfaction survey are

The knowledge of the company vision/ mission and strategies of employees?

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Satisfaction with HR Policies and Procedures How confident is the employee about the Company’s ability to reach its

Goal? Compensation and Benefits Whether the company has made reasonable efforts to allow its

employees to balance their work and family? Work Environment Opportunities for growth Whether individuals are respected in this company About Training Need

LIMITATIONS OF THE STUDY

These were certain limitations of my project if these limitations would have been taken care of project would have been catered to its need in a better way

Survey was conducted in 30 days due to which Employees did not get enough time to complete the survey properly.

Incidents happening at the time of the survey have affected it. Employees thought that the questionnaire was too big and too specific. Responses to open ended questions were not been given as the

employees were reluctant in giving responses due, to which we could not decipher the exact opinion of the Employees for most of the questions.

Study is restricted to Hyderabad plant and had taken less sample size as most of the employees are unable to provide the data.

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REVIEW OF LITERATURE

JOB SATISFACTION

Job satisfaction describes how content an individual is with his or her job.

The happier people are within their job, the more satisfied they are said to be. Job satisfaction is not the same as motivation, although it is clearly linked. Job design aims to enhance job satisfaction and performance, methods include job rotation, job enlargement and job enrichment. Other influences on satisfaction include the management style and culture, employee involvement, empowerment and autonomous work groups. Job satisfaction is a very important attribute which is frequently measured by organizations. The most common way of measurement is the use of rating scales where employees report their reactions to their jobs. Questions relate to rate of pay, work responsibilities, variety of tasks, promotional opportunities the work itself and co-workers. Some questioners ask yes or no questions while others ask to rate satisfaction on 1-5 scale (where 1 represents "not at all satisfied" and 5 represents "extremely satisfied").

The concept of job satisfaction traditionally has been of great interest to social scientists concerned with the problems of work in an industrial society.

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A number of consequences have been shown to result from job satisfaction/dissatisfaction. Despite the large number of studies that have dealt with these issues, however, there has been little accumulation of knowledge.

DefinitionsJob satisfaction has been defined as a pleasurable emotional state resulting from the appraisal of one’s job; an affective reaction to one’s job; and an attitude towards one’s job.

HistoryOne of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School, sought to find the effects of various conditions (most notably illumination) on workers’ productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction.

Scientific management (aka Taylorism) also had a significant impact on the study of job satisfaction. Frederick Winslow Taylor’s 1911 book, Principles of Scientific Management, argued that there was a single best way to perform any given work task. This book contributed to a change in industrial production philosophies, causing a shift from skilled labor and piecework towards the more modern approach of assembly lines and hourly wages. The initial use of scientific management by industries greatly increased productivity because workers were forced to work at a faster pace. However, workers became exhausted and dissatisfied, thus leaving researchers with new questions to answer regarding job satisfaction. It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set the tone for Taylor’s work.

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Some argue that Maslow’s hierarchy of needs theory, a motivation theory, laid the foundation for job satisfaction theory. This theory explains that people seek to satisfy five specific needs in life – physiological needs, safety needs, social needs, self-esteem needs, and self-actualization. This model served as a good basis from which early researchers could develop job satisfaction theories.

Models of job satisfaction

Affect Theory

Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous job satisfaction model. The main premise of this theory is that satisfaction is determined by a discrepancy between what one wants in a job and what one has in a job. Further, the theory states that how much one values a given facet of work (e.g. the degree of autonomy in a position) moderates how satisfied/dissatisfied one becomes when expectations are/aren’t met. When a person values a particular facet of a job, his satisfaction is more greatly impacted both positively (when expectations are met) and negatively (when expectations are not met), compared to one who doesn’t value that facet. To illustrate, if Employee A values autonomy in the workplace and Employee B is indifferent about autonomy, then Employee A would be more satisfied in a position that offers a high degree of autonomy and less satisfied in a position with little or no autonomy compared to Employee B. This theory also states that too much of a particular facet will produce stronger feelings of dissatisfaction the more a worker values that facet.

Dispositional Theory

Another well-known job satisfaction theory is the Dispositional Theory. It is a very general theory that suggests that people have innate dispositions that cause them to have tendencies toward a certain level of satisfaction, regardless of one’s job. This approach became a notable explanation of job satisfaction in light of evidence that job satisfaction tends to be stable over

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time and across careers and jobs. Research also indicates that identical twins have similar levels of job satisfaction.

A significant model that narrowed the scope of the Dispositional Theory was the Core Self-evaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there are four Core Self-evaluations that determine one’s disposition towards job satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher levels of self-esteem (the value one places on his/her self) and general self-efficacy (the belief in one’s own competence) lead to higher work satisfaction. Having an internal locus of control (believing one has control over her\his own life, as opposed to outside forces having control) leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction.

Job Characteristics Model

Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a framework to study how particular job characteristics impact on job outcomes, including job satisfaction. The model states that there are five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) which impact three critical psychological states (experienced meaningfulness, experienced responsibility for outcomes, and knowledge of the actual results), in turn influencing work outcomes (job satisfaction, absenteeism, work motivation, etc.). The five core job characteristics can be combined to form a motivating potential score (MPS) for a job, which can be used as an index of how likely a job is to affect an employee's attitudes and behaviours. A meta-analysis of studies that assess the framework of the model provides some support for the validity of the JCM.

Measuring job satisfaction

There are many methods for measuring job satisfaction. By far, the most common method for collecting data regarding job satisfaction is the Likert scale (named after Rensis Likert). Other less common methods of for

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http://en.wikipedia.org/wiki/Rensis_Likert


gauging job satisfaction include: Yes/No questions, True/False questions, point systems, checklists, and forced choice answers. This data is typically collected using an Enterprise Feedback Management (EFM) system.

The Job Descriptive Index (JDI), created by Smith, Kendall, & Hulin (1969), is a specific questionnaire of job satisfaction that has been widely used. It measures one’s satisfaction in five facets: pay, promotions and promotion opportunities, coworkers, supervision, and the work itself. The scale is simple, participants answer either yes, no, or can’t decide (indicated by ‘?’) in response to whether given statements accurately describe one’s job.

The work itself—responsibility, interest, and growth. Quality of supervision—technical help and social support. Relationships with co-workers—social harmony and respect. Promotion opportunities—chances for further advancement. Pay—adequacy of pay and perceived equity vis-à-vis others.

The Job in General Index is an overall measurement of job satisfaction. It is an improvement to the Job Descriptive Index because the JDI focuses too much on individual facets and not enough on work satisfaction in general.

Other job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The MSQ measures job satisfaction in 20 facets and has a long form with 100 questions (five items from each facet) and a short form with 20 questions (one item from each facet). The JSS is a 36 item questionnaire that measures nine facets of job satisfaction. Finally, the Faces Scale of job satisfaction, one of the first scales used widely, measured overall job satisfaction with just one item which participants respond to by choosing a face.

Some general myths relating to Job Satisfaction.

Argument: Satisfaction Causes Performance -If job satisfaction causes high levels of performance, the message to managers is quite simple: To increase employees’ work performance, make them happy. Research, however, indicates that no simple and direct link exists between

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individual job satisfaction at one point in time and work performance at a later point. This conclusion is widely recognized among OB scholars, even though some evidence suggests that the relationship holds better for professional or higher level employees than for nonprofessionals or those at lower job levels. Job satisfaction alone is not a consistent predictor of individual work performance.

Argument: Performance Causes Satisfaction: If high levels of performance cause job satisfaction, the message to managers is quite different. Rather than focusing first on peoples’ job satisfaction, attention should be given to helping people achieve high performance; job satisfaction would be expected to follow. Research indicates an empirical relationship between individual performance measured at a certain time period and later job satisfaction. A basic model of this relationship, based on the work of Edward E. Lawler and Lyman Porter, maintains that performance accomplishment leads to rewards that, in turn, lead to satisfaction. In this model rewards are intervening variables; that is, they “link” performance with later satisfaction. In addition, a moderator variable—perceived equity of rewards—further affects the relationship. The moderator indicates that performance will lead to satisfaction only if rewards are perceived as equitable. If an individual feels that his or her performance is unfairly rewarded, the performance–causes–satisfaction relationship will not hold.

Argument: Rewards Cause Both Satisfaction and Performance : This final argument in the job satisfaction–performance controversy is the most compelling. It suggests that a proper allocation of rewards can positively influence both performance and satisfaction. The key word in the previous sentence is proper. Research indicates that people who receive high rewards report higher job satisfaction. But research also indicates that performance-contingent rewards influence a person’s work performance. In this case, the size and value of the reward vary in proportion to the level of one’s performance accomplishment. Large rewards are given for high performance; small or no rewards are given for low performance. And whereas giving a low performer only small rewards initially may lead to dissatisfaction, the expectation is that the individual will make efforts to

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improve performance in order to obtain greater rewards in the future. The point is that managers should consider satisfaction and performance as two separate but interrelated work results that are affected by the allocation of rewards. Whereas job satisfaction alone is not a good predictor of work performance, well-managed rewards can have a positive influence on both satisfaction and performance.

What kindles dissatisfaction?

Earnings or benefits Job quality or workplace support Lack of appreciation Stagnation or no growth Lack of freedom

Best Practices -Employee Satisfaction.

1) Recruiting and Hiring… it all starts with this

2) Provide a Career / ‘Skill’ Path

3) Employee Development and Training

4) Strong Supervisors / Good Coaching

5) Work Environment / Company Culture

6) Rewarding work / empowering employees.

7) Recognition (first) and Reward (second)

How to keep Employees Engaged and Happy?

Strengthen work environment

Make improvements to mould the company as an employer of choice

Treat employees as an important part of the organisation

Encourage participation in various planning and decision-making aspects

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Offer meaningful work and challenging assignments to effectively utilise staff skills

Empower employees and ensure them of job security.

Provide legitimate feedback, genuinely listen to staff concerns and make their interests a management priority

Role of Employee Satisfaction & Morale Boosting

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Seven social learning processes and strategies were identified that relate to Job Satisfactionand Morale. These are:_ Conditions of Service,_ Recognition & Reward,_ Organizational Loyalty to Workers,_ Workplace Design,_ Job Significance,_ Performance Management, and_ Loyalty to the Organization

These seven elements of Job Satisfaction and Morale align with components of the Job Characteristics Model (Hackman & Oldham, 1980) that are claimed to be necessary for job satisfaction and the motivation to perform one’s job

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well. For instance, Conditions of Service, Recognition & Reward, Organizational Loyalty to Workers, and Workplace Design all relate to one’s satisfaction with the work context, or to use Hackman and Oldham’s (1980) terms, “Job Context Satisfaction”. Similarly, Job Significance Pascoe, Ali. & Warne (your own belief that your work is important and has value) and Performance Management relate to Experienced Meaningfulness of Work” and “Knowledge of Results”, respectively, both of which are posited as necessary psychological states for high levels of motivation to work well. Whilst there appears to be no direct relationship between Loyalty to the Organization and elements of the Job Characteristics Model, one’s attitude to the organization for which they work would influence their motivation to work well.

Conditions of ServiceGenerally, the data indicates that there is a perception that the conditions of service and the implementation of certain associated policies and practices are having some negative impacts on how people view their work environment. The interviews highlighted how social changes with regard to individuals’ goals and aspirations are impacting on work expectations. An example is the difference in expectations between long serving personnel and new recruits (generation of baby boomers and generation X). Long serving members, until very

recently, thought of their work in the Defence Forces as a long term career; however, new personnel view it as an opportunity to enjoy the work and the challenges the military offers, but not necessarily as a lifelong career. The changing role of the military from war fighting to that of the peacekeeping and humanitarian assistance has an impact on the conditions of service and ultimately on job satisfaction. The data clearly indicates that younger personnel now have much higher expectations of being able to balance their personal life with work commitments. Thus, many comments occurred in the interviews that related to

’family friendly policies’ in the service, for example:

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“I’d leave … if that’s what’s necessary because I have to put my family first now.”

“I don’t think [this service] has found a method to address women who want to have families…”

“My partner and I have not lived in the same state since’95…it’s just not a sacrifice I’m prepared to keep making.”

The shrinking labour market available for recruiting new staff led to the ‘civilianisation‘ of some military billets, the billets which were often perceived to be the ‘jewels in the crown’ as far as military postings are concerned. Although it was recognized that the civilians formed an important part of the service, there seemed to be some degree of resentment:

[There is] “the perception that civilians were taking over the organization…a lot of things we used to do is now being taken over by civilians…We had people come in and weren’t trained to the same level as the [service] people. It meant then the [uniformed] people had to take up the slack.”

Two quality of work issues emerged from the interviews: having interesting and challenging work (which is discussed under the heading of job significance), and the change in the way things are manufactured and repaired. An example relating to the latter is:

“The technicians…are very much monkey see monkey do these days…he’ll …learn to replace boxes. That’s his career.”

This change in the way things are replaced rather than repaired has a significant impact on job design and it may be necessary to re-design other aspects of maintenance-type jobs to sustain interest and variety.

Due to the changing economic climate there were changes introduced to promotion and advancement policies. This has impacted heavily on officers' perceptions of conditions of service:

“I have a letter from the Chief of Defence Force (CDF) telling me that I can expect probably two jobs in rank and then it’s up or out.”…”I have no

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security of tenure here, whereas before I was promoted to this rank I probably did.”

Many interviewees indicated they had planned to stay until they were 55 years old, but that they now felt that this was not possible. Interestingly, this has been compounded by the policy of the service whereby some talented young people are being given fast track promotions, and by the perception that if you have not reached a particular rank by a certain age then you are wasting your time staying in the service.

With the downsizing policies that plague most government and private sector organisations, the culture to work long hours seems to be heavily entrenched. This occurs both at junior and senior ranks. The research data points to the general perception that junior staff will be told to go home, but that no-one tells the senior ranks to go home and not to work such long hours.

The quantitative survey canvassed opinions on having sufficient resources to do your work, and the workload.

Sixty-two percent and 72%, respectively, of respondents were satisfied with the level of resourcing and the workload, indicating that this factor is not adversely affecting Job Satisfaction and Morale.

Recognition and RewardThe lack of proper recognition for a job well done seems to be an endemic problem for many organisations (Mitchell, 2000). The research data indicates that the lack of recognition and extrinsic reward for one’s work is mainly due to the system because rules and regulations largely prevent supervisors from offering “encouragement awards” (such as gift vouchers) in recognition of a job well done. Most interviewees talked about the use of promotion as a reward, but also emphasised that not everyone who is capable is going to be promoted because there are not enough positions available.

Interviewees also commented that the existing honours and awards system is complex. The research team was told that due to a heavy workload commendations are not written (only one or two people seem to be writing

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up 90% of the commendations), and as a consequence there are probably a large number of exceptional people who are missing out. Quotes typical of those about the honours and awards system are:

“The honours and awards system is quite a complex one but it’s one of the most publicly and visibly recognised way of getting reward.”

"Conspicuous service medals and the Australia Day Medals …there’s a general avoidance of

people [in this HQ] getting those sort of things because it’s then seen as being nepotistic, if the head shed [HQ] gets all the kudos.”

There were also a number of comments about inadequate feedback:

“I’ve been here for three months and I don’t get any feedback on the work that I’ve done…I presume it’s been OK because they haven’t come back to me and said “You’re hopeless.”

On the matter of intrinsic reward, typical comments were:

“It’s been very rewarding personally, professionally, if not financially, but I’ve done a lot of really interesting things.”

“…You get offered good opportunities because you’re good doing that stuff and you’re working hard..”

Such comments indicate that some have specifically joined the military because of intrinsic rewards such as a wide variety of jobs and opportunities.

Organizational Loyalty to WorkersThe prevailing economic climate has led many organizations onto a path of implementing efficiency measures. Restructuring, frequent organizational changes and downsizing are the results of that. It is not Pascoe, Ali. & Warne surprising, therefore, that there is the perception that the organization is less loyal to workers now than in the past as illustrated by the following comment:

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“Well hang on, there ain’t no loyalty here, and I’m busting my buns and have for the past 30

something year, always been a workaholic and always delivered 150%.”

The other aspect of organisational loyalty raised during interviews related to the contract of trust between leaders and staff being broken:

“[There is the] expectation that there’s going to be more money put into people and the only place they can get that money from, because they can’t go across to the government say ’we need more money‘… The only way they can get it is out of operating costs.”

“We keep saying that people are the backbone of [this service], but there is a general feeling out there that that is a platitude and we don’t really live up to that.”

Loyalty to the OrganizationAccording to Reichheld (2001) unless leaders of an organization have built relationships on loyalty then nothing will keep staff and other stakeholders from jumping ship the instant a better opportunity comes along. This is likely to be reflected in the level of job satisfaction and staff retention rates, and involves staff being loyal to the organisation and the organisation being loyal to staff. Reichheld (2001) also states that true employee loyalty includes responsibility and accountability for building successful, mutually valuable relationships. Many of the interviewees considered themselves loyal to the service, were happy, and would stay with the service forever, if they could:

“I’m…sort of very proud to be wearing the uniform and I knew it was something that I wanted to do when I was in high school.”

“I’m probably actually quite loyal to the organisation, shared objectives you know it would take a long period of not having a good time. It’s not just a case of I didn’t enjoy the last six months.”

There were, however, some mixed messages from people who perceived themselves as extremely loyal to the service and yet they were leaving it:

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“I’m leaving but I’ve actually really enjoyed it. It’s the best place that I’ve worked with Defence…

I’m really glad I worked here and I’ve got this loyalty to the service, which is making me sad to leave.”

“there is a simmering air of discontentment and unhappiness and there’s also this underpinning loyalty and love for the service.”

In the quantitative survey only 15% of respondents indicated that they would not consider a career outside Defence. This could lead to a serious problem should those remaining 85% employees act upon it and leave the Department. Despite the mixed messages concerning loyalty to the service, and despite the fact that staff still indicated they are leaving, there is a clear sense of loyalty to the service.

Workplace designThe physical design of a workplace impacts on the behaviours that occur in that space. Fifty-nine percent of respondents to the quantitative survey found the work environment too noisy, and only 45% indicated they could work effectively in the open plan environment. From the interview data it became apparent that the preferred solution to this was to book a quiet conference room and work there. Interestingly, some interviewees' comments indicated they favoured an open plan environment, and that common identity, morale and communication had been enhanced due to the collocation of staff:

“You can just pull up a chair and talk about something”

“It really promotes a team, and what it does promote is the transfer of knowledge.”

Job SignificanceJob significance is the extent to which one feels his or her work is significant, or is something that ‘counts’, and if one sees their job as trivial they are unlikely to experience it as meaningful. In turn, they are unlikely to develop a high level of job satisfaction or work motivation (Hackman & Oldham,

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1980). Regardless of industry or organisation, lack of tangible and significant outcomes from work can lead to workers being less willing to engage in generative learning. Most of the interviewees talked about the importance of feeling they are making a contribution and that their work is having an effect. Some indicated that working at the HQ has given them a clearer picture of what the service does and how they contribute to that, for example:

“It’s the first job I’ve ever had where I can make a big difference, and I love it.”

“I really enjoyed it because I felt I was actually contributing something.”

“I’m very pleased to be going back to something where…I think I can make a contribution because I struggled to find a way to really make a contribution.”

“Service to our nation is one of the greatest things you can ever do and the simple satisfaction of something like Timor, of something like the Gulf, of actually getting out there and doing what you are trained to do is remarkable.”

Others talked about a lack of challenge and job significance as a reason for leaving:

“More administration, it’s a day-to-day task that doesn’t contribute to the bigger goal… doesn’t have a big impact on any projects whatever.”

The research data clearly points to lack of job significance as a main reason for those who leave the service.

Performance ManagementAssessment, reporting and performance management form a significant part of the overall management of military personnel throughout their careers. Issues raised in relation to performance management of individuals are indicated by the following comments:

“…Evaluation of personnel and reports were not handed in on time and as a result some people missed [out] on advancement.”

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“…It doesn’t say anything about, you know, congratulations, well done, or how valued you are to the organisation. What it says is that "Now that you're here, perform or you’re out.”

Individuals identified the following as important in their performance management: realistic goals, trust, making sure your performance is fully recorded, and the linking of the financial and performance

The Role of Job Satisfaction and Morale in Organizational Learning

Job satisfaction and the motivation to perform well at work is important in today's business climate not merely because of their links with high levels of work effectiveness – they are also important because the competitive advantage requires a ‘knowledge edge’ and this cannot be achieved unless employees are willing to engage in behaviours that will result in generative learning. These include the willingness to share corporate knowledge and the willingness to voice new ideas and engage in dialogue about new and innovative ways of working. Figure 2 below illustrates the impact that factors associated with Job Satisfaction and Morale can have on these two elements that are vital to generative learning. The findings of the study reported in this paper suggest that Conditions of Service, Recognition & Reward, Organizational Loyalty to Workers, Workplace Design, and Performance Management contribute directly to Job Satisfaction & Morale. Loyalty To the Organization and Job Significance also contribute to Job Satisfaction & Morale, but the relationship is recursive. For instance, higher levels of Job Satisfaction & Morale would have positive impacts on

Loyalty to the Organization and levels of Job Significance. Finally, Job Satisfaction & Morale will impact on Motivation to Work Well, and this directly

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influence employees’ Willingness To Share Corporate Knowledge and their Willingness to Voice New Ideas.

Research design

After having defined the objective the next is to formulate steps, which will

specify the ways of achieving the primary and secondary objectives.

Generally the data collection method and sampling plan are the main

elements that constitute the research design.

Research design provides smooth operations yielding maximal information

with minimum expenditure of effort time and money.

Research design has a plan in advance of data collection analysis for our

research report.

A research design is the logical and systematic planning and directing piece

of research.

A research design is the arrangement of conditions for collection and

analysis of data in a manner that aims to confirm relevance to the research

purpose with economy procedure.

The study is designed as descriptive one based on survey method. The

sample was selected based on convenience sampling method. Both primary

data and secondary data were collected. And the collected data were

analyzed by using statistical tools like percentage method and pie charts.

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Pre testing of questionnaire The researcher to remove questions that are

vague and ambiguous in the nature conducted the pre testing. The samples

of 21 respondents were selected and the questionnaire was pre-tested and

the researcher did necessary modification.

Data collection

There are two types of data

Primary data: - the primary data is that information which is collected for

the first time, and thus happens to be original in character primary data is

never collected before. Primary data can be collected through method of

survey, observations and questionnaire.

Here the data has been collected through questionnaire.

Secondary data: the pre-existing data not gathered for the purposes of the

current research. This is the data which have already been collected by some

other agency and which have already been processing.

Here the secondary data was collected from web sites, journals and books.

Sample

A sample is a segment of the population selected to represent the population

as a whole.

Sample size

The study of Employee Satisfaction was done with a sample size of 21 Employees who were at least three years old in the organization.

RESEARCH INSTRUMENT:

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The research instrument used for collecting the data is questionnaire.

Questionnaire:

The Questionnaire is prepared in an organized and thorough manner and reframed accordingly after considering all the required aspects of the attrition analysis, using last year’s data. The scale ranges from a score of 1 for ‘Strongly Agree’ to a score of 6 for ‘Unable to Rate’.

Parameters Used For the Survey

The primary data about Employee Satisfaction is collected from Employees using a structured Questionnaire which contained both open ended as well as closed ended Questions. A questionnaire of questions was designed keeping in view the objectives and other aspects which are mentioned below

General Work Environment Compensation and Benefits Respect for Employees Respect for Management Opportunities for Growth Teamwork Communication Feed back Closing

Our motive was to cover all the areas which were related to Employees and measure his/her satisfaction level in those areas.

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To carry out the survey we prepared the questionnaire divided into various sections and we uploaded the questionnaire into the website and the survey would be active for a stipulated period of time.

STATISTICAL TOOLS USED FOR ANALYSIS:

After data collection, statistical tools are used for analyzing the data and results are obtained. From the obtained results, findings and suggestions can be done.

CHAPTER -4

DATA ANALYSIS

&

INTERPRETATION

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Work Environment

This section is related to the facilities at your workplace and the resources available to you to do your job

1. I have the resources I need to do my job well.

S No. Attributes No. of employees1 Strongly Agree 112 Moderately Agree 63 Neutral 44 Moderately Disagree 05 Strongly Disagree 06 Unable to Rate 0

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2. The necessary information systems are in place and accessible for me to get my job done.


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3. My workplace is well maintained.


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4. My workplace is safe.


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5. I feel comfortable expressing my views and raising concerns at work.


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6. I am very much satisfied with the kind of work I do.


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7. I feel that my talent is used in the best way.


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Compensation and Benefits

In this section you are supposed to give your feedback on how satisfied are you with the pay and the benefits that you get at Vijay Textiles.

9. I am paid fairly for the work I do.

S No. Attributes No. of employees1 Strongly Agree 32 Moderately Agree 9

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3 Neutral 34 Moderately Disagree 45 Strongly Disagree 16 Unable to Rate 1

10. My salary & benefits is competitive with similar jobs I might find elsewhere.


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11. I am satisfied with my benefits package.


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Respect for Employees

This section deals with the organization attitude towards its employees.

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13. My Superiors & Management values my talents and the contribution I make.


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14. My team leader always treats me with respect.


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15. Everybody is treated fairly in this organization.


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Respect for Management

This section deals with the employee’s attitude towards management.

16. Our senior leaders demonstrate strong leadership skills.


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17. Our team lead knows his job well.


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18. Our HR Manager knows his job well.


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Opportunities for Growth

This section deals with opportunities that Vijay Textiles provides for professional & personal growth.

19. I receive the KT I need to do my job well.


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20. My work is challenging and stimulating


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21. I have a mentor at work.


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Team work

This section deals with how good are you working in teams.

22. New members are welcomed warmly and they easily mingle with the team.


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23. Do you feel that we all are part of a team and are working towards a shared goal?


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24. Management communicates well with the rest of the organization.


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Feed back

This section deals with concept of taking feedback from the employees of Vijay Textiles.

25. I receive useful and constructive feedback from my manager, that helps me improve my performance.


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26. I am given adequate feedback about my performance.


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27. I have an opportunity to participate in the goal setting process.


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28. My work is being rewarded or recognized at appropriate times.


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29. I would recommend others to work for this company.

S No. Attributes No. of employees1 Yes 202 No 1

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CHAPTER -5

FINDINGS &

SUGGESTIONS

FINDINGS

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After being a part of entire survey i.e. from preparation of questionnaire to the preparation of final report, I was able to identify the benefits from the survey conducted and also recognized some of the areas where Employees showed dissatisfaction, which are as follows:

1. Employees were pleased to work with Vijay Textiles.2. People expressed their confidence in management of Vijay Textiles3. Most of the Employees were not clear about the mission & vision

statement of Vijay Textiles.4. Employees are not comfortable with the work place.5. Employees are unhappy with the Pantry & Conference facilities

provided to them.6. Employees feel that they are unable to balance their personal and

professional life.7. Most of the Employees are displeased with their Compensation and

benefits part.8. Individuals are treated fairly in Vijay Textiles.9. Employees are very much happy with their respective team leads.

10. Individuals working in teams are happy with cooperation which they get from their respective teams.

11. People working in Vijay Textiles felt that they can freely share their opinion on various things relating to work and personal life with others.

12. Employees strongly feel that they have Opportunity for their career growth at Vijay Textiles.

13. Employees are pleased with the HR department.14. Lack of discipline is found with respect to time management.15. Employees are satisfied with the current policies of Vijay Textiles

Ltd.,.16. Employees are unhappy with their performance evaluation

policy.

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17. Most of the Employees are dissatisfied with the lack of feedback they get from their team leaders.

SUGGESTIONS

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After the successful completion of the survey i.e. when all Employees submitted their feedback we analyzed it in following ways

Consolidated report of all the Employees taken and difficulties faced by them were taken into consideration. Then team wise about the perception and problems faced in teams were analyzed. Then reports were divided according to gender and analyzed and finally reports according to seniority were prepared from which the consolidated report that had been enclosed shows the overall levels of Employee Satisfaction at Vijay Textiles Ltd.,

After analyzing the consolidated report, I thought the below suggestions given by me would help Vijay Textiles to create an amicable & peaceful environment where people feel proud to work.

The recommendations are follows:

1. Some of the questions for which negative feedback was expected were deleted , in my view when they were planning to take an overall opinion about employee satisfaction levels all the factors related to employee satisfaction should be covered.

2. Quick and prompt action should be taken for the areas found in Employee feedback which need improvement.

3. Employee should be given more time to fill up the survey.4. Recent training and development sessions were useful to employees.

Most of them felt that the training sessions should continue and this session should focus more on their technical and soft skills.

5. In spite of company providing many benefits to employees, most of them are not happy with benefits plans of the company, I would like to recommend Hetero to go for benefits like sodexho passes, spouse insurance etc...

6. Most of the employees felt that they should be a balance of work between personal and professional life. This kind of stress can be reduced by encouraging fun related activities in the office regularly.

7. Employees says that there should be more space in the pantry and they also require more chairs as employees cannot go together for lunch and

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hence hampers the mutual communications. This can be overcome by providing more chairs or by making the sitting arrangements more spacious.

8. Hetero should try to encourage its employees by taking them out for an outing or team dinner so as to boost up the team and give them relaxation from their routine activities.

9. Employees feel that their performance evaluation is not fair, this can be abridged by making its employees clear about the policies and procedures.

10. Team leads should give them a feedback for every fifteen days so that they can asses themselves and work on their weakness to convert them into strengths.

11. Lack of discipline has been found with respect to time, I would like to recommend Hetero to go for an effective time sheet.

CHAPTER -6BIBLIOGRPHY &

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QUESTIONNAIRE

BIBLIOGRAPHY

Aswathappa k., Human Recourse & Management, 2003, Pg (244 to 245)

Khan N.V., Personal management, 2006, Pg (132 to 134)83


Gupta K. Shashi & Joshi Rosy, Human Recourse Management, 2008, Pg (20.9 to 20.17)

30

Rao Subba P., Essential of HRM & Industrial Relationships, 2005, Pg (480 to 482)

Velnampy T., "Job Attitude and Employees Performance of Public Sector Organizations in

Workplace Employment Relations Survey", Human Resource Management Journal, Vol. 18, Issue-2, 2008, Pg (97–195)

K.K.Jain, Fauzia Jabeen, Vinita Mishra & Naveen Gupta, " Job Satisfaction as Related to

Hardik Shah & Hiral Shah, "Job Satisfaction and Fatigue Study", SCMS-COCHIN Journal

“Organisational Behaviour” by L.M. Prasad. Published by Sultan Chand & Sons 1997.

Websites:

www.google.co.in

www.wikipedia.in

www.humanresourcesabout.com

www.surveymonkey.com

QUESTIONNAIRE

Please provide the following information

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http://www.surveymonkey.com/

http://www.humanresourcesabout.com/

http://www.wikipedia.in/

http://www.google.co.in/


First Name _________________________________________________________

Last Name _________________________________________________________

Working since ________________________________________________________

Team _________________________________________________________

Designation _________________________________________________________

Work Environment

This section is related to the facilities at your workplace and the resources available to you to do your job

1. I have the resources I need to do my job well.

a) Strongly Agree b) Moderately Agree c) Neutral

d) Moderately Disagree e) Strongly Disagree f) Unable to Rate

2. The necessary information systems are in place and accessible for me to get my job done.



3. My workplace is well maintained.



4. My workplace is safe.


d) Moderately Disagree e) Strongly Disagree f) Unable to Rate85


5. I feel comfortable expressing my views and raising concerns at work.



6. I am very much satisfied with the kind of work I do.



7. I feel that my talent is used in the best way.



8. Give us your final feedback of what you think of the resources and facilities that are provided at Vijay Textiles.

____________________________________________________________________________________________________________________________________________________________

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Compensation and Benefits

In this section you are supposed to give your feedback on how satisfied are you with the pay and the benefits that you get at Vijay Textiles.

9. I am paid fairly for the work I do.



10. My salary & benefits is competitive with similar jobs I might find elsewhere.



11. I am satisfied with my benefits package.



12. Give us your final feedback in detail about how satisfied are you with your salary. __________________________________________________________________________________________________________________________________________________________

Respect for Employees

This section deals with the organization attitude towards its employees.

13. My Superiors & Management values my talents and the contribution I make.


d) Moderately Disagree e) Strongly Disagree f) Unable to Rate87


14. My team leader always treats me with respect.



15. Everybody is treated fairly in this organization.



Respect for Management

This section deals with the employee’s attitude towards management.

16. Our senior leaders demonstrate strong leadership skills.



17. Our team lead knows his job well.



18. Our HR Manager knows his job well.



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Opportunities for Growth

This section deals with opportunities that Vijay Textiles provides for professional & personal growth.

19. I receive the KT I need to do my job well.



20. My work is challenging and stimulating



21. I have a mentor at work.



Teamwork

This section deals with how good are you working in teams.

22. New members are welcomed warmly and they easily mingle with the team.



23. Do you feel that we all are part of a team and are working towards a shared goal?



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Communication

24. Management communicates well with the rest of the organization.



Feedback

This section deals with concept of taking feedback from the employees of Vijay Textiles.

25. I receive useful and constructive feedback from my manager, that helps me improve my performance.



26. I am given adequate feedback about my performance.



27. I have an opportunity to participate in the goal setting process.



28. My work is being rewarded or recognized at appropriate times.


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29. I would recommend others to work for this company.

a) Yes b) No

30. Is there anything else that you would like to share on the employee satisfaction?

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

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Documents

EMPLOYEE SATISFACTION-VIJAY TEXTILES.doc