HR Projject Final

MET COLLEGE OF MANAGEMENT STUDIESA PROJECT ONA STUDY ON IMPACT OF MOTIVATIONAL FACTORS ON EMPLOYEE PERFORMANCEIN THE SUBJECTHUMAN RESOURCE MANAGEMENTSUBMITTED BYNAMES ROLL NOTANVI RAWAT 95SAMIR SHAIKH 104KUNAL PUNJABI 94 VIJAY PANDEY 88 DEVENDERA GOWDA 75 TEJAS CHHEDA 66

UNDER THE GUIDANCE OFPROF. ARCHANA DANDEKAR KOLIFORMASTER IN FINAANCIAL MANGEMENT (SEMESTER - II)YEAR: 2014-17CONTENT

Sr. No.PARTICULARSPage No.

1DEFINITION

2DEVELOPMENT OF MARKETING CONCEPT

3WHAT DO MARKETER DO?

4THE MARKETING ENVIORMENT

5CONSUMER AND BUYER BEHAVIOUR

6SEGMENTING , POSITIONING AND TARGETING

7FORTUNIE HINGS ON COOKIES

8CONCLUSION

9RECOMMENDATION

10BIBLOGRAPHY

INTRODUCTIONHuman Resource Management is a management function that helps organizations to recruit, select, train, and develop members in an organization.Only human resource management is obviously one function which is concerned with peoples dimension in organization. All major activities in the working life of an employee, that is from the time of employees entry into the organization to the time employees leaves the organization all the activities come under the purview of human resource management.The activities are human resource management are human resource planning, job analysis, job design, recruitment, selection, orientation and placement, training and development, performance appraisal and job evaluation, employee and executive remuneration, motivation and communication, welfare, safety and health, industrial relations.

Employee MotivationNature of HRMHRMEmployee HiringEmployee & Executive RemunerationEmployee MaintenanceIndustrial RelationsProspects OfHRM

1. Societal objectives- to be ethically and socially responsible to the needs and challenges of society while minimizing the negative impact.1. Organizational objectives- to serve the organization with its primary objectives and bring about overall organizational effectiveness.1. Functional objectives-to maintain the departments contribution at a level where it serves the organizations needs tailoring the department according to the requirement of the organization.1. Personal objectives- to assist employees in achieving their personal goals. If these goals of employees are met it helps the organization to maintain, retain and motivate the employees.

Motivation

1.1 Introduction:-Motivation is an important factor which encourages persons gives their best performance and help in reaching enterprise goals. A strong positive motivation well enables the increased output of employees but a negative motivation will reduce their performance. In order to make any managerial decision really meaningful. It is necessary to convert it in to an effective action, which the manager accomplishes by motivating his subordinates. To motivate means to produce goals oriented behavior since increase in productivity is the ultimate goal of every industrial organization, motivation of employees at all levels is the most critical and baffling function of the management. Almost every human problem the manager faces throughout the firm has motivational elements. Definition of motivation:-The term motivation has been derived from Latin word-Movers which mean to move. In our languages of management it implies something that energies an individuals or a group of individuals to work.W.G.SCOTT Motivation means a process of stimulating people to action to accomplish desired goals. BREECH says Motivation is a general inspirational process which gets the members of the team to pull their weight effectively, to give their loyalty to the group, to carryout properly the tasks that they accepted and generally to play an effective part in the job that the group has undertaken.Nature of Motivation

Motivation is a psychological concept that generates with in an individual. It is an inner felling which energies a person to work more. The emotions or desires of a person prompt him for doing a particular work. Man has innumerable wants to satisfy & there are unsatisfied needs of a person which disturb his equilibrium. All the wants can not be satisfied at one time where one is satisfied other may emerge. Satisfaction of wants is an unending process. Hence, motivation is also unending process. A person moves to fulfill his unsatisfied needs by containing his energies. There are dormant energies in a person which are activated by canalizing them into actions. A man works to achieve some individual goals. After the goal is achieved he is no longer interested in work. Goal means satisfaction of needs. Therefore, it is very essential for the management to know the goals or motives or needs of each individual, so that they may be pushed to work by directing them towards achievement of their goals.

Objective of motivation

The purpose of motivation is to create conditions, in which people are willing to work with zeal, initiative, interest and enthusiasm with a high personal and group moral satisfaction, with a sense of responsibility, loyalty and with pride and confidence in a most cohesive manner so that the goals of an organizational are achieved effectively.Motivational techniques are utilized to stimulate employee growth; this was indicated by Clarence Francis when he was chairman of general foods. He said you can buy a mans time, you buy a mans physical presence at a given place, you cannot even buy a measured number of skilled muscular motions per hour or day, but you cannot but enthusiasm, you cannot buy initiative, you cannot but loyalty, you cannot buy devotions of hearts, minds and souls. You have to ear these things. If a manager wants to get work done by his employees, he may either hold out a promise of a reward for them for doing work in a better or improved way, or he may constrain them, by instilling fear in them or by using force, to do the desired work. In other words, he may utilize a positive or a negative motivation. Both these types are widely used by management.

Types of Motivational

When a manager wants to get more work from his subordinates then he will have to motivate them for improving their performance. They will either be offered incentives for more work, or may be in the shape of rewards, better reports, recognition etc, or he may in still fear in them or use force for getting desired work. The following are the types of motivational.1. Positive Motivation: - Positive Motivation is based or reward. The workers are offered incentives for achieving the desired goals. The incentives may be in the shape of more pay, promotion, recognition of work etc. according to peter Drucker, the Real and positive motivators are responsible for placement, high standards of performance, information adequate for self control and the participation of the workers as responsible citizen in the plant community. Incentive motivation is the pull mechanism.2. Negative Motivation: - Negative or fear motivation is based on force or fear. Fear causes employees to act in a certain way. In case, workers do not act accordingly then they may be punished with demotions or lay offs. The fear act as a push mechanism. Moreover it may result in lower productivity because it tends to dissipate such human assets as loyalty, co-operation and esprit de corps. Moreover, the imposition of punishment frequently result is frustration among those punishments, leading to the development of mal adaptive behavior.3. Extrinsic Motivation :- is concerned with external motivators which employees enjoy-pay, promotion, status, benefits, retirement plans, health insurance schemes, holiday and vacations etc. by and large these motivations are associated with financial rewards.

4. Intrinsic motivation: - On the other hand, is concerned with the feeling of having accomplished something worth while, i.e. the satisfaction one gets after doing ones work well. Praise, responsibility, recognition, esteem, power, status, competition and participation are examples of such motivation.5. Self motivation: - before one can motivate others one must motivate oneself. One must overcome a certain amount of ones nature interia. One of the most common deterrents to human action is that of tired feelings. This thing that effect the conscious mind are generally known as anxiety are : Monotonous work Driven by boss Bad physical conditions Financial troubles Under constant strain

6. Group motivation :- The motivation of a group is an important as self-motivation, A group can be motivated by improving human relations and dealing with people to feel involvement in their work and by giving them an opportunity to improve there performance and by complimenting or praising them. In dealing with others, it must be borne in mind there the greatest returns can be obtained when each member of a group is properly motivated.

IMPORTANCE OF MOTIVATION

Management tries to utilize all the sources of production in a best possible manner. This can be achieved only when employees cooperate in this task. Efforts should be made to motivate employees for contributing their maximum. The efforts of management will not bear fruit if the employees are not encouraged to work more the followings is the importance of motivation:- Motivated employees are always looking for better ways to do a job. It is the responsibility of the managers to make employees look for better ways of doing their jobs. Motivated employees will put maximum efforts for achieving organizational goals. Better performance will also result in higher productivity. The cost of production can also be brought down if productivity is raised. The employees should be offered more incentive for increasing their performance. Motivation will act as a stimulate for improving the performance of employees. A motivated employees, generally, is more quality oriented. This is true weather we are talking about a top manager spending extra time on data gathering & analysis for a report. Highly motivated workers are more productive than apathetic workers. The productivity of workers becomes a question of the managements ability to motivate its employees. An appreciation of the nature of the motivation is highly useful for managers. A good motivational system will create job satisfaction among employees. The employees will try to contribute their maximum and management will offer them better service conditions and various other incentives. There will be an atmosphere of confidence among employees and employers. It will lead to better industrial relations.

Every organization requires human resource in addition to financial and is significant to the organizations.a) People must be attracted not only to join the organization but also to remain in it.b) People must perform the task for which they are hired and must do so in a dependable manner.c) People must go beyond their dependable role performance and engage in some form of creative, spontaneous and innovative behaviour at work.

STEPS OF MOTIVATION

The management should concentrate on two things to motivating its employees.1. Working method of motivation i.e., it should be determined as to what ought to be done.2. The tools of motivation i.e. it should be determined as to when and how a job is to be done.

1. knowledge of position of employees:-First of knowledge should be obtained regarding the needs of the employees who are to be motivated. Different persons have different needs. So, different methods are to be used for motivated different persons. Both the individuals and the groups should be kept in mind while assessing the conditions.2. Development of tools of motivation :- After obtaining the knowledge of the employees needs managers should do the job of selecting and using specific tools or techniques of motivation. The managers should determine the following issues through their own experience of others and through the experience of others and through the experience of the personnel department.a) Which employee is to be motivated and by which technique of Motivation?b) Under what conditions is hello/she to be motivated?

3. Selection of tools of motivation:-Selection of tools of motivation is a difficult task. Following observation are to be made for the purpose1. Who is to be motivated?2. Which technique succeeded or failed in the past?3. Are requisite efficiency, means time needed for the use of that technique available or not?Thus, after the determination of the technique its use should its should be considered. It should be decided as to when and how the motivation is to be used. The employees should immediately get the reward or appreciation can spoil the effect of motivation.4. communication media:-The technique of motivation should be brought into the notice of employees. Communication media should be good enough for this purpose. If the management cannot communicate its viewpoint to the employees, it cannot motivate them as well. 5. Follow up action: - The manager should assess, from time to time, whether the employees have been motivated or not through a technique of motivation. If one Technique fails others can be made use of. This type of assessment can bring to Light the shortcomings of present technique by removing its shortcoming.

THEORIES OF EMPLOYEE MOTIVATION The main theoretical approaches to employee motivation are as follows:1. Need fulfillment theory.2. Equity theory.3. Equity discrepancy theory

1) Maslow needs hierarchy: - Motivation is influenced by the needs of a person. There is a priority of certain needs over others. The importance of needs will influence the level of motivation. A.H.Maslow has categorized human needs into five categories.

a) Physiological:-Hunger, thirst, shelter, sex & other needs.b) Safety: - includes security, and protection from physical and emotional harm.c) Social:- includes affection, belongingness, acceptance and friendship.d) Esteem:- includes internal esteem factor such as self-respect, authority and achievement and esteem factors such as status, recognition and attention.e) Self-actualization:- The drive to become what one is capable of becoming includes growth, achieving ones potential and self-fulfillment.2) Motivation Hergbers theory: - He gives two factor theory of motivation. First factors include company policy and administration, technical supervision, inter-personal relations with supervisor, salary, status, job security and personal life. These factors were found to be only dissatisfied and not motivators. These are hygiene factors. Second type of factor is motivational factor, which includes achievements, recognition; advancements work itself, possibilities of personal growth, responsibility. According to this theory, attention should be given to the job content to motivate the employees of the organization.3) X & Y Theory: - After viewing the way in which managers dealt with employees, Mc. Gregor concluded that a managers view of the nature of human being is based on certain grouping of assumptions. He proposed two distinct view of human being, one basically negative theory X which assumes that the employees dislike work are lazy, dislikes responsibility and must be coerced to perform and the other basically positive labeled theory Y which assumes that employees like work are creative, seek responsibility and can exercise, self direction. Mc Gregor himself held to the belief that theory Y assumptions are more valid than theory X. therefore he proposed such ideas as participation decision making, responsible and challenging job and good group relation as approaches that would maximize an employees job motivation. As, already mentioned, Maslows need hierarchy theory states that every human being there exist hierarchy of five needs-physiological, safety, social, esteem and self actualization and as each is sequentially satisfied, the need becomes dominant. From the stand point of motivation, if you want to motivate someone, you need to understand at what level in hierarchy that person currently is and then focus on satisfying those needs at above that level.Different needs dominant different people at different time, workers will be dominated by lower order needs like physiological, safety and social needs while on the other hand staff members whos lower order needs like esteem and self actualization needs. The reason behind this difference can be variable such as education, family background and cultural environment. But the important aspect, which should be taken care, is fulfillment of desired needs at every level. If the organizational fails to fulfill needs of its employees ultimately it results in non-fulfillment or targeted result. For example to fulfill esteem needs (particularly recognition needs) an employee work hard to bring better result out of his work. He leaves no stone unturned in achieving the set target in the best possible manes. In return of this hard and dedicated labour the employee looks forward to have recognition within the department and in the organization as a whole. The recognition encourages the employee to put more of his labour in fulfilling the task still in the better way. Apart from this he also becomes an example for others. As a result they are to motivate. On the contrary, if this employee not rewarded appropriately that will result in lower morale and employee will not repeat this enthusiastic behavior again, simultaneously effecting the organizational target. So in the present scenario, this is responsibility of HR department to find out what are various needs of employees, what are the policies and procedures from which the employees are not satisfied and accordingly suitable steps should be taken to boost the morale of employee. MONEY AS A MOTIVATOR

The importance of money as a motivator has been consistently downgraded by most behavioral scientists. They prefer to point out the value of challenging jobs, goals, and participation on decisions making, feedback, cohesive work teams, and other non monetary factors as stimulants to employee motivation. We agree otherwise here that money is the crucial incentives to work motivation. As a medium can purchase the numerous, need-satisfying things they desire. Furthermore, money also performs the function of a scorecard, by which employees assess the value that the organization places on their services and by which employees can compare their value to others. Money improved in employees performance.

MONEY DOESNT MOTIVATES MOST EMPLOYEES TODAY Money can motivate some people under some conditions, so the issue is not really whether or not money can motivate. The answer to that is it can! the more relevant question is does money motivate most employees in the workforce today to higher performance? The answer to this question, well argue, is No.For money to motivate an individuals performance, certain conditions must be met. First, money must be important to the individuals. Second, money must be perceived by the individual as being a direct reward for performance. Third, the marginal amount of money offered for the individual, as being significant must perceive the performance. Finally, management must have the discretion to reward high performers with more money.Money is not important to all employees. High achievers for instance, are intrinsically motivated. Money should have impact on these people. Similarly, money is relevant to those individuals with strong lower-order needs, but for most of the workforce, lower-order needs are substantially satisfied.Money would motivate if employees perceived a string linkage between performance and rewards in organizations, unfortunately, pay increase are far more often determined by levels of skills and experience, community pay standards, the ational cost of living index, and the organizations current and future financial prospects than by each employees level of performance.So might be theoretically capable of motivating employees to higher levels of performance, but most managers are not given enough flexibility to do much about it.

TECHNIQUES OF MOTIVATION

Every management tries to spacing certain motivational techniques which can be employed for improving performance of its employees. The techniques may not be similarly useful in all types of concerns. Some techniques may be suitable employed in one concern; others may be useful in another concern and so on. Motivational techniques may be of two types i.e., financial and non financial.Financial motivatorsFinancial motivators may be in the form of more wages, salaries, profit-sharing, leave with pay, medical reimbursement bonus, company paid insurance of any other things that may be given to employees for performance. Money is the most important motivator to people who are young and raising their families. For some persons money remains to be a motivator and for others it may never be. Besides all money can motivate people if their wages are related to their performance.Non-financial motivatorsUnder non financial motivators the employees is not given more money. He, is rather given more chances of promotion, job security, respect and appreciation under non financial incentives. Thus, non-financial incentives include those factors which do not indirectly he may be receiving financial benefits. Modern managers make use of all types of motivators i.e., positive, negative, financial, non-financial.Motivational techniques are utilized to stimulate employee growth. The purpose of motivation is to develop conditions in which people are willing to work with zeal, interest and enthusiasm.

Incentives motivation:-An incentive or reward can be anything that attracts a workers attention and stimulates him to work, when the question comes of incentive motivation, the answer cannot be said to be a perfect one but satisfactory. It is said that people work for incentives in the form of Ps which are as follows:1. Praise2. Prestige3. Promotion

Types of Motivational incentives and allowances

1. Marriage gift scheme:- with a view to promote cordial relations with the employees, the company has been given gifts on the occasions of marriages of either the employees themselves or their dependent children marriage gift schemes.2. Wage and salary:- one of the most important technique of motivation is an appropriate wage and salary the salary given to the employees are in accordance to their work and job.3. Medical reimbursement:- only those employees are covered under this scheme which are not being covered under the ESI scheme. Reimbursement of medical expenses to eligible employees will be for: self, spouse, unmarried daughter, unemployed son, dependent parents4. Suggestion and reward system:- This scheme was introduced by the management to create an environment which employees are encourage and motivate to give constructive suggestions for improving the overall profitability of the company the management believes that employees have tremendous capability and desire to make the company prosper in every field.

5. Self motivation: - Self motivation exists to a great extent, the urge or desire that should come from within the individuals exists in the employees of the organization. The employees believe in themselves that they are capable of performing the given task smartly and efficiently, arrives from with on the individuals not from someone else.6. Conveyance facility/allowance:-The Company provides conveyance facility to female workers from industrial establishment to their place of residence and male workers get conveyance allowance. Leave with pay includes casual, sick, and earned leaves Attendance allowance Conveyance allowance House rent allowance Child education allowance Provident fund Employee state insurance corporation scheme Appraisal, praise or recognition

ANALSIS AND INTERPRETATION

The data after collection has to be processed and analysis in accordance with the outline laid down for the purpose at the time of developing the research plan.This is essential for ensuring that we have all relevant data for making contemplated comparison and analysis. As has been stated above, the data is being collected through questionnaire. Here the analysis is done through graphical representation. The answer to the questionnaire will be evaluated thoroughly and well show the complete Analysis of data. Finally, it will provide the complete picture of results.

BASIC NEEDSANSWERS BASED ON QUESTIONAIRES

ParticularNo. of RespondentsPercentage

Strongly Agree1438

Agree1849

Neither Agree nor Disagree411

Disagree13

Strongly Disagree00

Total37100

INTERPRETATION: The analysis show that out of 100 people 38 % people are strongly agree, 49 % people are agree, 11 % people are Neither agree nor are disagree & 3 % Persons disagree with The salary increments given to employees who do their jobs very well motivates them.


Strongly Agree1232

Agree1849


Disagree13

Strongly Disagree13

Total37100



Strongly Agree00

Agree924


Disagree1335

Strongly Disagree411

Total37100



Strongly Agree924

Agree2054


Disagree514

Strongly Disagree25

Total37100


SAFETY


Strongly Agree924

Agree2259


Disagree38

Strongly Disagree00

Total37100



Strongly Agree38

Agree719


Disagree1130

Strongly Disagree514

Total37100



Strongly Agree514

Agree1643


Disagree719

Strongly Disagree25

Total37100



Strongly Agree25

Agree2157


Disagree411

Strongly Disagree25

Total37100


ESTEEM:


Strongly Agree822

Agree2362


Disagree38

Strongly Disagree13

Total37100



Strongly Agree719

Agree1643


Disagree514

Strongly Disagree25

Total37100



Strongly Agree616

Agree1849


Disagree822

Strongly Disagree13

Total37100



Strongly Agree822

Agree1643


Disagree514

Strongly Disagree25

Total37100


LOVE:


Strongly Agree719

Agree2259


Disagree38

Strongly Disagree00

Total37100



Strongly Agree514

Agree1849


Disagree719

Strongly Disagree25

Total37100



Strongly Agree411

Agree1849


Disagree616

Strongly Disagree38

Total37100



Strongly Agree1335

Agree1643


Disagree25

Strongly Disagree00

Total37100


SELF ACTUALIZATION:


Strongly Agree2362

Agree1027


Disagree13

Strongly Disagree00

Total37100



Strongly Agree1438

Agree1746


Disagree25

Strongly Disagree00

Total37100



Strongly Agree719

Agree1849


Disagree616

Strongly Disagree13

Total37100



Strongly Agree1232

Agree1746


Disagree25

Strongly Disagree00

Total37100


SUMMARY& CONCLUSIONS

Documents

HR Projject Final