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    EMPLOYEE GRIEVENCES IMPACT ON PERFORMANCE, JOB SATISFACTION &ATTRITION

    Study On

    EMPLOYEE GRIEVENCES IMPACT ON PERFORMANCE, JOBSATISFACTION &

    ATTRITIONDissertation submitted in partial fulfillment

    of the requirement for the award of the

    degree of

    MASTER OF BUSINESS ADMINISTRATION

    OF

    Bangalore University

    GUIDED BY

    Mr Tilak thomas

    SUBMITTED BY

    Shwetank

    MBA (IV SEM.)

    Reg. no 08YACM6104

    SESSION 2008-2010

    GAIN MORE KNOWLEDGE

    REACH GREATER HEIGHTS

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    Presidency College Kempapura, Hebbal Bangalore -

    560024

    CHAPTER-1

    Introduction

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    INTRODUCTION:

    Grievance According to Michael Jucius, A grievance can be any discontent or dissatisfaction,

    whether expressed or not, whether valid or not, and arising out of anything connected with the

    company that an employee thinks, believes, or even feels as unfair, unjust, or inequitable. A

    grievance means any discontentment or dissatisfaction in an employee arising out of anything

    related to the enterprise where he is working. It may not be expressed and even may not be

    valid. It arises when an employee feels that something has happened or is going to happen

    which is unfair, unjust or inequitable. Thus, a grievance represents a situation in which an

    employee feels that something unfavorable to him has happened or is going to happen. In an

    industrial enterprise, an employee may have grievance because of long hours of work, non-

    fulfillment of terms of service by the management, unfair treatment in promotion, poor

    working facilities, etc.

    Nature of Grievance:

    Nature of Grievance Grievances is symptoms of conflicts in the enterprise. Just like smoke

    could mean fire, similarly grievances could lead to serious problem if it is not addressed

    immediately! So they should be handled very promptly and efficiently. While dealing with

    grievances of subordinates, it is necessary to keep in mind the following points: A grievance may

    or may not be real. Grievance may arise out of not one cause but multifarious causes. Every

    individual does not give expression to his grievances.

    Forms of Grievance:

    A grievance may take any of the following forms:

    Factual:

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    When an employee is dissatisfied with his job, for genuine or factual reasons like a breach of

    terms of employment or any other reasons that are clearly attributed to the management, he is said

    to have a factual grievance. Thus, factual grievances arise when the legitimate needs are

    unfulfilled. The problem that he has is real and not virtual.

    Imaginary:

    When an employees grievance or dissatisfaction is not because of any factual or valid reason but

    because of wrong perception, wrong attitude or wrong information he has. Such a grievance is

    called an imaginary grievance. Though it is not the fault of management, the responsibility of

    dealing with it still rests with the management. So the problem is not real. It is in the mind or just

    a feeling towards someone or something. So be careful your grievances could be very much

    imaginary!

    Disguised:

    An employee may have dissatisfaction for reasons that are unknown to him. This may be because

    of pressures and frustrations that an employee is feeling from other sources like his personal life. I

    am sure you will agree that if you have fought at home and come to the institute, you cannot

    concentrate in the class. Similarly if you have had a bad day in the institute, that will reflect in the

    mood at home. We are all humans and are sensitive to the environment that we operate

    Grievance means any type of dissatisfaction or discontentments arising out of factors related to an

    employees job which he thinks are unfair. A grievance arises when an employee feels that

    something has happened or is happening to him which he thinks is unfair, unjust or inequitable. In

    an organization, a grievance may arise due to several factors such as:

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    Violation of managements responsibility such as poor working conditions

    Violation of companys rules and regulations

    Violation of labor laws

    Violation of natural rules of justice such as unfair treatment in promotion, etc.

    Various sources of grievance may be categorized under three heads:

    management policies,

    working conditions, and

    personal factors

    Grievance resulting from management policies includes:

    Wage rates

    Leave policy

    Overtime

    Lack of career planning

    Role conflicts

    Lack of regard for collective agreement

    Grievance resulting from working conditions include:

    o Poor safety and bad physical conditions

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    o Unavailability of tools and proper machinery

    o Negative approach to discipline

    o Unrealistic targets

    Grievance resulting from inter-personal factors include

    o Poor relationships with team members

    o Autocratic leadership style of superiors

    o Poor relations with seniors

    o Conflicts with peers and colleagues

    Identifying Grievances:

    Exit interview:

    Employees usually quit organizations due to dissatisfaction or better prospects elsewhere. Exit

    interviews, if conducted carefully, can provide important information about employees grievances. This

    can help the management to gather feedback and to genuinely incorporate feedback. The management

    should carefully act upon the information drawn from such employees .It should be careful that the

    discontentment is reduced so that no more employees quit the organization because of similar reasons.

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    Gripe Boxes:

    These are boxes in which the employees can drop their anonymous complaints. They are different from

    the suggestion boxes in which employees drop their named suggestion with an intention to receive

    rewards. It is normally said that if you want to progress in life, you should be close to critics. These gripe

    boxes can perform the role of critics for the organization. The management should carefully act upon the

    information thus gathered. Now I dont want to sound repetitive by saying that the internal customers of

    an organization should be satisfied if the external customers are to be kept happy.

    Opinion Survey

    The management can be proactive by conducting group meetings, periodical interviews with employees,

    collective bargaining sessions etc. through which one can get information about employees

    dissatisfaction before it turns into a grievance.

    Grievance procedure is a formal communication between an employee and the management

    designed for the settlement of a grievance. The grievance procedures differ from organization toorganization.

    1. Open door policy

    2.Step-ladder policy

    Open door policy:

    Under this policy, the aggrieved employee is free to meet the top executives of the organization

    and get his grievances redressed. Such a policy works well only in small organizations. However,

    in bigger organizations, top management executives are usually busy with other concerned matters

    of the company. Moreover, it is believed that open door policy is suitable for

    Executives; operational employees may feel shy to go to top management.

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    Step ladder policy:

    Under this policy, the aggrieved employee has to follow a step by step procedure for getting his

    grievance redressed. In this procedure, whenever an employee is confronted with a grievance, he

    presents his problem to his immediate supervisor. If the employee is not satisfied with superiorsdecision, then he discusses his grievance with the departmental head. The departmental head

    discusses the problem with joint grievance committees to find a solution. However, if the

    committee also fails to redress the grievance, then it may be referred to chief executive. If the

    chief executive also fails to redress the grievance, then such a grievance is referred to voluntary

    arbitration where the award of arbitrator is binding on both the parties.

    GRIEVANCE PROCEDURE IN INDIAN INDUSTRY

    The 15th session of Indian Labor Conference held in 1957 emphasized the need of an established

    grievance procedure for the country which would be acceptable to unions as well as to

    management. In the 16th session of Indian Labor Conference, a model for grievance procedure

    was drawn up. This model helps in creation of grievance machinery. According to it, workers

    representatives are to be elected for a department or their union is to nominate them. Management

    has to specify the persons in each department who are to be approached first and the departmental

    heads who are supposed to be approached in the second step. The Model Grievance Procedure

    specifies the details of all the steps that are to be followed while redressing grievances. These

    steps are:

    STEP 1:

    In the first step the grievance is to be submitted to departmental representative, who is a

    representative of management. He has to give his answer within 48 hours.

    STEP 2:

    If the departmental representative fails to provide a solution, the aggrieved employee can take his

    grievance to head of the department, who has to give his decision within 3 days.

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    STEP 3:

    If the aggrieved employee is not satisfied with the decision of departmental head, he can take the

    grievance to Grievance Committee. The Grievance Committee makes its recommendations to the

    manager within 7 days in the form of a report. The final decision of the management on the report

    of Grievance Committee must be communicated to the aggrieved employee within three days of

    the receipt of report. An appeal for revision of final decision can be made by the worker if he is

    not satisfied with it. The management must communicate its decision to the worker within 7 days.

    STEP 4:

    If the grievance still remains unsettled, the case may be referred to voluntary arbitration.

    Organization

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    RELATION BETWEEN EMPLOYEE GRIEVANCE AND JOB

    PERFORMANCE

    Monitoring and appraising employees helps boost employee productivity and develop employees'

    potential to the full. Employees' job performance is key to the success of business. Putting in

    place a system to monitor job performance will allow employees to demonstrate evidence of their

    contribution towards business objectives..

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    The performance management system is a two-way, continuous process, measuring job

    performance in a fair and consistent way. The benefits of this two-way process are that it

    improves communication between you and the employee by creating a forum for you to discuss

    work and/or personal related issues that may have an effect on job performance.

    The system will also lead to the retention and motivation of talented employees.

    Each of employees experiences the four critical stages of performance.

    The first stage is to set clear goals for your employees, reflecting their specific job role

    and the business objectives for the financial year that relate to their job.

    The second stage is to provide relevant resources to support the achievement of your

    employees' goals.

    The third stage is to review the achievement of the goals you have set, preferably on a

    monthly or quarterly basis. The value of this is to create an opportunity to review the goals and

    assess employees efforts to take corrective action in respect of failures and/or recognize interim

    achievements.

    The final fourth stage is a formal appraisal to assess employees job performance over

    the year gone. The result of this may be promotion or a reward and the recognition of

    achievements. At the same time, priorities should be agreed upon and goals set for the following

    year.

    Within this four-stage process, there may be conversations about one or all of

    the following:

    over or under achievement of the employee's job;

    negotiation regarding pay; and

    The identification of opportunities for future development and progression.

    The most effective people to carry out the appraisal process will be the employee's immediate

    manager, and it is therefore important that both the manager concerned and the employee are fully

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    aware of how the job appraisal process works. They should both ensure their expectations are

    clarified at the beginning of each job appraisal meeting.

    The tools for job appraisals

    Following this simple checklist will help you develop and implement an effective job

    performance monitoring and appraisal system.

    Step 1

    You need to know your business goals for the financial year, as these will form the basis for

    setting goals for individuals. How can you achieve something if you don't know what it is?

    Setting clear goals for your business will help you focus your efforts on what you want to achieve.

    Setting goals for your employees, based on your business goals, boosts productivity because the

    goals help your employees to understand what is expected them. They can stretch and challenge

    employees' roles, although they must, of course, be achievable.

    Step 2

    You must review your employees' job descriptions alongside your business goals, and create nomore than four goals using the SMART format.

    The SMART-goal format requires you to evaluate the following:

    S - SPECIFIC

    What is the task? What is involved? What is required? How might it be described to a stranger?

    M - MEASURABLE

    How will you know when the task is achieved? What will success look like? What targets must be

    met? What are your expectations in terms of time, quality, quantity, money and standards? How

    will it impact the business?

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    A - ACTION

    What is the first step that needs to be taken? What resources are needed? Who can help to make

    this happen? How will progress be monitored? Has anyone done this before? If so, what learning

    can they share? Do both parties agree with the actions that need to be taken?

    R - REALISTIC

    Review S, M and Aare they clear? Is the task relevant? What else needs to be considered?

    T - TIMED

    On what date will the task be completed? How many interim review dates will there be? When

    will progress be monitored?

    In some organisations, the formulation of SMART goals is done with the employee, with the

    benefit of their involvement and agreement.

    You must keep the goals simple - one or two sentences will do.

    Step 3

    Once the SMART goals are agreed upon, you should seek a second opinion as to whether they

    make sense. If not, you should learn from the feedback and refine the goals accordingly.

    Step 4

    The employee and their immediate manager must meet to talk about the SMART goals. The ideal

    time for this is at the beginning of the financial year. The employee will look for clarity and

    understanding, generating ideas for achieving them. The employee's immediate manager has the

    opportunity of providing advice and guidance.

    Step 5

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    SMART goals can change during the year - for example, due to unforeseen issues or

    circumstances, as a result of employee under or over achievement, change in roles, new

    employees starting or new managers.

    Step 6

    Immediate managers carry out review meetings, ideally monthly but every three months if not.

    The review meeting is an informal review of the employees job and specific SMART goals for

    the year. The meeting should be rigorous and objective, allowing the employee time for

    questioning, self-assessment, advice and guidance.

    Step 7

    Before the review meeting, the employee and their immediate manager will do some preparation.

    Practical considerations, such as where the meeting will be held, who will be attending and what

    should be on the agenda should be decided on.

    Step 8

    The immediate manager may encourage the employee to comment on their own job performance -

    perhaps rating their achievements in respect of each SMART goal on a numerical scale. Thisprovides the immediate manager with the opportunity to see how the employee views their job

    performance and also to see if any support could be provided in weak areas.

    Step 9

    At the end of the job performance review, it is essential that any comments are typed up and

    shared between employee and manager. A date should be established for the next job performance

    meeting.

    Step 10

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    Feedback should be sought and offered on a regular basis. This helps the employee to progress,

    learn and develop in their job role. It is vital for the feedback to be a balance of praise for

    successes and strengths, as well as advice/commentary regarding weaknesses and further

    development.

    Step 11

    Accurate assessment is essential. After a number of job review meetings, the consensus may be

    that the employee is not performing in the job role in a way that has been agreed and is expected -

    perhaps they are not attaining or working towards their SMART goals sufficiently. This may be

    for a number of reasons, so it is very important not to make any assumptions but to establish

    clearly what these are.

    Step 12

    When the reasons for poor performance have been established, action needs to be taken. New

    goals may be set, and further support or training and development can be provided. If the

    employee has lost motivation or refuses to take ownership to resolve the issues and the business

    has done all it can, you may have to resort to your grievance and disciplinary policy and

    procedures.

    Step 13

    The value of training must not be underestimated. Not only does training help your employees

    function in their jobs with confidence and in a competent and safe manner, but developmental

    training increases their skills, knowledge and experience to further their progress. If you have a

    small business, have you ever thought 'wouldn't it be nice to have a finance director?' or 'why can't

    I have someone overseeing quality?' or 'I'd love a sales manager' - if these are common thoughts,

    consider training one of your existing staff, perhaps for a few hours of their week, towards a new

    role.

    There are various methods of training and development, and it is important to identify what the

    employee needs to support them in a relevant and appropriate way. For each training project

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    proposed, ask what is the specific issue/s that require training? What does the employee need to

    develop? How do they learn best? (Not everyone is suited to classroom learning, just as not

    everyone can deal with home study). Ask how the training and development will add value to the

    business and to the employee. Further, ask which issues take priority and which will make the

    biggest difference to the business.

    Step 14

    If you're considering sending your employees on a course, think again. There is no follow up after

    the course on how useful it has been to the employee. There is often no way to ask questions or

    get feedback on how the course can apply practically, and employees may be left bewildered on

    how to apply their new-found knowledge, skills and experience. In-house, practical training is

    often preferable.

    Step 15

    When the relevant method/s has been selected, complete a training and development plan. The

    outcome of the training should be revisited at each review meeting or on a more informal basis.

    Step 16

    A further, formal and in-depth review should take place once a year. Before the appraisal meeting

    the employee and line manager will do some preparation. The annual job appraisal is far more

    rigorous and objective than the regular meetings, and time is allowed for questioning, self-

    assessment, advice and guidance.

    Step 17

    At the appraisal, the manager will want to give feedback on how the employee has performed

    over the year. This should be constructive and based on fact, rather than opinion. It should be

    communicated clearly, as it may affect bonuses or other forms of reward and recognition, and it

    will certainly impact the employee's motivation. Another important aspect of the meeting is to

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    find out what the employee wants or expects. Employers must be honest about whether

    opportunities exist. They should aim to support their employees if they decide to move out of the

    business to pursue their dreams. In some cases they return armed with new skills, knowledge and

    experience to take up a new role.

    Step 18

    As for the regular job appraisals, at the end of the review, it is essential to summaries the

    conversation and share the typed-up notes between manager and employee.

    Step 19

    Performance that is viewed as exceeding or outstanding should always be rewarded or recognized.

    Step 20

    Along these lines, it is a good idea to create a budget for the year to informally or formally reward

    and recognize employees. It is a great demonstration of their value and keeps them motivated and

    loyal to the business.

    Best Practice Essentials

    Set job goals for teams as well as for individuals, and review team performance as a

    group.

    Provide regular training for managers on how to conduct effective reviews and

    appraisals with their employees.

    The review and appraisal process must reflect the business culture and values.

    Communicate the reward and recognition and disciplinary policy and procedures in a

    clear way and by as many means e.g. contracts, posters, employee handbook.

    Create a reward and recognition

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    WHY JOB SATISFACTION IS NECESSARY FOR THE ORGANIZATION

    AND HOW IT RELATED TO THE GRIEVANCE:

    Job satisfaction, a worker's sense of achievement and success, is generally perceived to be directly

    linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a job one

    enjoys, doing it well, and being suitably rewarded for one's efforts. Job satisfaction further implies

    enthusiasm and happiness with one's work. The Harvard Professional Group (1998) sees job

    satisfaction as the keying radiant that leads to recognition, income, promotion, and the

    achievement of other goals that lead to a general feeling of fulfillment.

    Importance to Worker and Organization

    Frequently, work underlies self-esteem and identity while unemployment lowers self-worth and

    produces anxiety. At the same time, monotonous jobs can erode a worker's initiative and

    enthusiasm and can lead to absenteeism and unnecessary turnover. Job satisfaction and

    occupational success are major factors in personal satisfaction, self-respect, self-esteem, and self-

    development. To the worker, job satisfaction brings a pleasurable emotional state that often leads

    to a positive work attitude. A satisfied worker is more likely to be creative, flexible, innovative,

    and loyal.

    For the organization, job satisfaction of its workers means a work force that is motivated and

    committed to high quality performance. Increased productivitythe quantity and quality of

    output per hour workedseems to be a byproduct of improved quality of working life. It is

    important to note that the literature on the relationship between job satisfaction and productivity is

    neither conclusive nor consistent. However, studies dating back to Herzberg's (1957) have shown

    at least low correlation between high morale and high productivity, and it does seem logical that

    more satisfied workers will tend to add more value to an organization. Unhappy employees, who

    are motivated by fear of job loss, will not give 100 percent of their effort for very long. Though

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    fear is a powerful motivator, it is also a temporary one, and as soon as the threat is lifted

    performance will decline.

    Tangible ways in which job satisfaction benefits the organization include reduction in complaints

    and grievances, absenteeism, turnover, and termination; as well as improved punctuality and

    worker morale. Job satisfaction is also linked to a more healthy work force and has been found to

    be a good indicator of longevity And although only little correlation has been found between job

    satisfaction and productivity, Brown (1996) notes that some employers have found that satisfying

    or delighting employees is prerequisite to satisfying or delighting customers, thus protecting the

    "bottom line." No wonder Andrew Carnegie is quoted as saying: "Take away my people, but leave

    my factories, and soon grass will grow on the factory floors. Take away my factories, but leave

    my people, and soon we will have a new and better factory" (quoted in Brown, 1996, p. 123).

    Creating Job Satisfaction

    So, how is job satisfaction created? What are the elements of a job that create job satisfaction?

    Organizations can help to create job satisfaction by putting systems in place that will ensure that

    workers are challenged and then rewarded for being successful. Organizations that aspire to

    creating a work environment that enhances job satisfaction need to incorporate the following:

    Flexible work arrangements, possibly including telecommuting

    Training and other professional growth opportunities

    Interesting work that offers variety and challenge and allows the worker opportunities to

    "put his or her signature" on the finished product

    Opportunities to use one's talents and to be creative

    Opportunities to take responsibility and direct one's own work

    A stable, secure work environment that includes job security/continuity

    An environment in which workers are supported by an accessible supervisor who provides

    timely feedback as well as congenial team members

    Flexible benefits, such as child-care and exercise facilities

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    Up-to-date technology

    Competitive salary and opportunities for promotion

    Probably the most important point to bear in mind when considering job satisfaction is that there

    are many factors that affect job satisfaction and that what makes workers happy with their jobs

    varies from one worker to another and from day to day. Apart from the factors mentioned above,

    job satisfaction is also influenced by the employee's personal characteristics, the manager's

    personal characteristics and management style, and the nature of the work itself. Managers who

    want to maintain a high level of job satisfaction in the work force must try to understand the needs

    of each member of the work force. For example, when creating work teams, managers can

    enhance worker satisfaction by placing people with similar backgrounds, experiences, or needs in

    the same workgroup. Also, managers can enhance job satisfaction by carefully matching workers

    with the type of work. For example, a person who does not pay attention to detail would hardly

    make a good inspector, and a shy worker is unlikely to be a good salesperson As much as

    possible, managers should match job tasks to employees' personalities.

    Managers who are serious about the job satisfaction of workers can also take other deliberate

    steps to create a stimulating work environment. One such step is job enrichment. Job enrichmentis a deliberate upgrading of responsibility, scope, and challenge in the work itself. Job enrichment

    usually includes increased responsibility, recognition, and opportunities for growth, learning, and

    achievement. Large companies that have used job-enrichment programs to increase employee

    motivation and job satisfaction include AT&T, IBM, and General Motors (Daft, 1997).

    Good management has the potential for creating high morale, high productivity, and a sense of

    purpose and meaning for the organization and its employees. Empirical findings by Ting(1997)

    show that job characteristics such as pay, promotional opportunity, task clarity and significance,

    and skills utilization, as well as organizational characteristics such as commitment and

    relationship with supervisors and co-workers, have significant effects on job satisfaction. These

    job characteristics can be carefully managed to enhance job satisfaction.

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    Of course, a worker who takes some responsibility for his or her job satisfaction will probably

    find many more satisfying elements in the work environment. Everett (1995) suggests that

    employees ask themselves the following questions:

    When have I come closest to expressing my full potential in a work situation?

    What did it look like?

    What aspects of the workplace were most supportive?

    What aspects of the work itself were most satisfying?

    What did I learn from that experience that could be applied to the present situation?

    Workers' Roles in Job Satisfaction

    If job satisfaction is a worker benefit, surely the worker must be able to contribute to his or her

    own satisfaction and well-being on the job. The following suggestions can help a worker find

    personal job satisfaction:

    Seek opportunities to demonstrate skills and talents. This often leads to more challenging

    work and greater responsibilities, with attendant increases in pay and other recognition.

    Develop excellent communication skills. Employers value and reward excellent reading,listening, writing, and speaking skills.

    Know more. Acquire new job-related knowledge that helps you to perform tasks more

    efficiently and effectively. This will relieve boredom and often gets one noticed.

    Demonstrate creativity and initiative. Qualities like these are valued by most organizations

    and often result in recognition as well as in increased responsibilities and rewards.

    Develop teamwork and people skills. A large part of job success is the ability to work well

    with others to get the job done.

    Accept the diversity in people. Accept people with their differences and their

    imperfections and learn how to give and receive criticism constructively.

    See the value in your work. Appreciating the significance of what one does can lead to

    satisfaction with the work itself. This helps to give meaning to one's existence, thus

    playing a vital role in job satisfaction.

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    Learn to de-stress. Plan to avoid burnout by developing healthy stress-management

    techniques.

    Assuring Job Satisfaction

    Assuring job satisfaction, over the long term, requires careful planning and effort both by

    management and by workers. Managers are encouraged to consider such theories as Herzbergs

    (1957) and Maslow's (1943) Creating a good blend of factors that contribute to a stimulating,

    challenging, supportive, and rewarding work environment is vital. Because of the relative

    prominence of pay in the reward system, it is very important that salaries be tied to job

    responsibilities and that pay increases be tied to performance rather than seniority.

    So, in essence, job satisfaction is a product of the events and conditions that people experience on

    their jobs. Brief (1998) wrote: "If a person's work is interesting, her pay is fair, her promotional

    opportunities are good, her supervisor is supportive, and her coworkers are friendly, then a

    situational approach leads one to predict she is satisfied with her job" (p. 91). Very simply put, if

    the pleasures associated with one's job outweigh the pains, there is some level of job satisfaction

    ATTRITION

    Employee attrition is one of the critical problems which is faced by an HR manager during these

    days. In an ideal situation an employee consider multiple comfort level while working in a office

    for e.g. employer's goodwill in the market, remuneration, future growth, working condition, co-

    workers, current role's scope in the market & most important future stability with the

    organization. In a survey, approximate 70% of the working population in India is not happy at all

    due to one of the aspect (as mentioned aforesaid) which is not fulfilled while working in a

    organization which caused higher attrition rate.

    In broad term, attrition is a situation which employer face when employee left the organization

    due to job dissatisfaction, new opportunity in the market, retirement & natural cause

    (death/illness). Now a day this is one of the most important questions which is asked by higher

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    authority to HR people."Why our attrition rate is higher than other company". Earlier it wasn't

    important for the organization, whether their employees are committed or not, but now the time

    has been changed. The company cannot afford to lose its best employee to competitors. Therefore,

    HR team conducts EXIT interview when an employee left the job to get the information about

    one's decision to leave an organization. It is a paramount consideration for a HR team to think,

    why people are vacating their positions. Still Human Resource team face the challenge due to

    wrong information provided during EXIT interview.

    Reason for Leaving:-

    The reason are various behind leaving an organization & any attempt to find one comprehensive

    explanation for this phenomenon would be futile. Though the rising attrition within industries is a

    well-discussed topic but very few HR executives have been able to pinpoint the 'exact' reason for

    this growing trend. A recent Hewitt 'Attrition & Retention' survey shows one of the top reasons

    for talent attrition to be "external inequity in compensation". They also show that 27% of the

    employees in their EXIT interview mentioned compensation as the primary reason. It comes no

    surprise to many that money is an important factor but what besides this, there are several factors

    that influence an employee's decision to leave.

    Those days are gone when salary was the sole motivator for an employee to leave an organization.

    According to a survey there are three main reasons that are followed by other common reason:

    * In equity in compensation

    * Limited career opportunities

    * Role stagnation

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    Common reasons experienced by HR manager are discussed here:

    * Mismatch of job profile.

    * Job stress and work-life imbalances* Odd working hours/Early morning-night shifts

    * Job hopping

    * Lack of authority provided to accomplish ones task

    * Monotony of job

    The list can be endless but the reason why employees leave the organization is vary according to

    the nature of the business. The work should give to them the level of the employees and the nature

    of the responsibility he/she can handle. Therefore it's very challenging task for an HR expert to

    cope up with this situation and retain talent with an organization.

    Associated cost with high Attrition:

    Talent loss:

    * It includes the cost of lost knowledge, skills and contacts that the person who is leaving istaking with them out of your door.

    Recruitment cost:

    * The cost of advertisements; agency costs; employee referral costs; internet posting costs.

    * Calculate the cost of the manager who has to understand what work remains, and how to

    cover that work until a replacement is found.

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    * cost of the various candidate pre-employment tests to help assess candidates' skills, abilities,

    aptitude, attitude, values and behaviors.

    Training cost:

    * It includes the cost of orientation in terms of the new person's salary and the cost of the

    person who conducts the orientation.

    * It also consists of the training.

    * Calculate the cost of various training materials needed including company product manuals,

    computer or other technology equipment used in the delivery of the training.

    Motivational cost:

    * It refers to the cost arises because of motivating the other employees to retain them in the

    organization in terms of increasing their salary and time.

    Lost Productivity Costs:

    * As the new employee is learning the new job, the company policies and practices, etc. they arenot fully productive. Use the following guidelines to calculate the cost of this lost productivity.

    AN OVERVIEW OF INDUSTRY IN GENERAL

    The Indian real estate sector plays a significant role in the country's economy. The real estate

    sector is second only to agriculture in terms of employment generation and contributes heavily

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    towards the gross domestic product (GDP). Almost five per cent of the country's GDP is

    contributed to by the housing sector. In the next five years, this contribution to the GDP is

    expected to rise to 6 per cent.

    According to Jones Lang LaSalle, faster economic growth in Brazil, Russia, India and China

    (BRIC) could result in the property markets of those nations recovering at a faster rate than the

    UK and US real estate markets. It has also been suggested that India's property sector could begin

    to improve from late 2009 and may attract up to US$ 12.11 billion in real estate investment over a

    five-year period.

    Almost 80 per cent of real estate developed in India is residential space, the rest comprises of

    offices, shopping malls, hotels and hospitals. According to the Tenth Five Year Plan, there is a

    shortage of 22.4 million dwelling units. Thus, over the next 10 to 15 years, 80 to 90 million

    housing dwelling units will have to be constructed with a majority of them catering to middle- and

    lower-income groups.

    Moreover, India leads the pack of top real estate investment markets in Asia for 2010, according

    to a study by PricewaterhouseCoopers (PwC) and Urban Land Institute, a global non-profit

    education and research institute.

    The report, which provides an outlook on Asia-Pacific real estate investment and development

    trends, points out that India, particularly Mumbai and Delhi, are good destinations. Residential

    properties are viewed as more promising than other sectors and Mumbai, Delhi and Bangalore topthe pack in the hotel buy' prospects as well.

    The study is based on the opinions of over 270 international real estate professionals, including

    investors, developers, property company representatives, lenders, brokers and consultants.

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    Apart from the huge demand, India also scores on the construction front. A McKinsey report

    reveals that the average profit from construction in India is 18 per cent, which is double the

    profitability for a construction project undertaken in the US.

    The real estate sector is also likely to get a boost from Real Estate Mutual Funds (REMFs) and

    Real Estate Investment Trusts (REITs). In fact, according to a CRISIL paper, the REITs would

    have the potential to hold at least 5 per cent share of the total global real estate market by 2010,

    the size of which would reach US$ 1,400 billion in the next three years. The paper titled, Indian

    REITs; Are We Prepared', says that by 2010, REITs alone would hold a market size of US$ 70

    billion of the total real estate market as its concept is gaining ground in countries like India and

    other developing nations.

    According to the Federation of Indian Chambers of Commerce and Industry (FICCI), the Indian

    real estate sector is likely to experience consolidation wherein bigger players may opt for outright

    buy of smaller firms or forge joint ventures or business alliances with them.

    Foreign direct investment (FDI) into India in the real estate sector for the fiscal year 2008-09 has

    been US$ 2.8 billion approximately, according to the latest data given by the Department of

    Policy and Promotion (DIPP).

    Moreover, buoyed by positive market sentiment and demand revival in housing, four real estate

    companiesEmaar MGF Land, Lodha Developers, Sahara Prime City and Ambience Ltdare

    looking to mop-up over US$ 2.35 billion through public offerings.

    Last Updated: February 2010

    New Projects

    Zuri Group Global is planning to invest about US$ 247.5 million towards setting up five-

    star business hotels and luxury residential properties over the next three years.

    An investment of US$ 627.3 million will be made by industries in the Aerospace and

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    Precision Engineering Special Economic Zone at Adibatla, Andhra Pradesh.

    Unitech will invest US$ 853.42 million in construction of up to 30 million sq ft of

    residential and commercial spaces to be launched by next year.

    Real estate developer The 3C Company will develop an affordable housing project over 41

    acres of land in Noida at an investment of US$ 519.93 million.

    A consortium consisting of the Essel Group and Delhi-based Bhushan Steel and Power will

    develop an amusement, theme and knowledge city over 250 acres at Kharghar in Navi

    Mumbai. The total value of the transaction is US$ 454.95 million making it, in absolute

    terms, one of the largest real estate transactions in India.

    Tata Realty and Infrastructure Limited (TRIL) will develop a US$ 758.47 million IT Special

    Economic Zone (SEZ) in Chennai.

    Government Initiatives

    The government has introduced many progressive reform measures to unlock the potential of the

    sector and also meet increasing demand levels. The stimulus package announced by the

    government, coupled with the Reserve Bank of India's (RBI) move allowing banks to provide

    special treatment to the real estate sector, is likely to impact the Indian real estate sector in a

    positive way. RBI has decided to extend exceptional concessional treatment to the commercial real

    estate exposure which is restructured, up to June 30, 2009.

    100 per cent FDI allowed in realty projects through the automatic route.

    In case of integrated townships, the minimum area to be developed has been brought down

    to 25 acres from 100 acres.

    Urban Land (Ceiling and Regulation) Act, 1976 (ULCRA) repealed by increasingly larger

    number of states. Minimum capital investment for wholly-owned subsidiaries and joint ventures stands at

    US$ 10 million and US$ 5 million, respectively.

    Full repatriation of original investment after three years.

    51 per cent FDI allowed in single-brand retail outlets and 100 per cent in cash-and-carry

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    through the automatic route.

    The 2009-10 budgets has also given sops to the realty sector. Developers of affordable housing

    projects (units of 1,000-1,500 sq ft) have been granted a tax holiday on profits from projects

    initiated in the financial year 2007-08. Such projects would have to be completed before March 1,

    2012.

    At the same time, the finance minister allocated US$ 207 million to grant a 1 per cent interest

    subsidy on home loans up to US$ 20,691, provided the cost of the home is not more than US$

    41,382. This subsidy is expected to give a further boost to the housing sector.

    Road Ahead

    According to the Confederation of Real Estate Developers' Associations of India (CREDAI), the

    affordable housing segment is set to play an important role in India's real estate sector in 2010 on

    the back of an uptick in demand.

    Moreover, 2010 is expected to be a positive year for the real estate sector. The revival is expected to

    be driven by infrastructure growth, which, in turn, can accelerate real estate activities both in the

    residential as well as commercial spaces.

    CHAPTER-2

    RESEARCH DESIGNPage 29 of75

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    RESEARCH DESIGN

    INTRODUC TION

    Grievances refer to dissatisfaction, distress or suffering caused unnecessarily or illegally. The

    issue may be related with employment or services condition or firm condition.

    The purpose of the dissertation is to find out the grievance and try to know the symptom of the

    grievance. Whether it is real or imaginary.Therefore, management should be concerned with both

    complaints and grievance, because both may be important indicators of potential problems within

    the workforce.

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    RESEARCH OBJECTIVE

    -to know about the dissatisfaction among the employees and workers

    -to reduce the employee turnover

    -to reduce the production cost

    -to remove the misunderstanding between management and worker which caused imaginary

    grievances

    -to know about the strategic change in the industries regarding wage and salary for same kind of

    job.

    HYPOTHESIS

    A hypothesis consists either of a suggested explanation for an observable phenomenon or of a

    reasoned proposal predicting a possible causal correlation among multiple phenomena. Any

    useful hypothesis will enable predictions by reasoning (including deductive reasoning). It might

    predict the outcome of an experiment in a laboratory setting or the observation of a phenomenonin nature. The prediction may also invoke statistics and only talk about probabilities.

    We perform a test in which we compute some statistic; if the statistic falls within some region,

    called the region of acceptance, we accept Ho Otherwise we reject Ho and accept H1

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    For my research study I have formulated

    H0 : Employee Grievances have an impact on job satisfaction, performance and attrition.

    Ha : Employee Grievances doesnt impact on job satisfaction, performance and attrition.

    Research Methodology

    The methodology used is Quantitative research.

    A questionnaire is formed and analysis is formed. The questions are close ended and explaining

    order. They are based on the companys wage, salary, transfer and other policies which create the

    real grievance among the employee.

    SAMPLE DETAILS:

    Sampling Technique:

    I have chosen Random Sampling design for my Research topic

    Random Sampling from a finite population refers to that method of Sample selection which gives

    each possible sample combination an equal probability of being picked up and each item in the

    entire population to have an equal chance of being included in those samples.

    Sample Size:

    A sample size of 50 employees of all ages and demographic segments are considered in order to

    arrive at final conclusion. Random sampling is done on the basis of staff level management.

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    Data Collection

    The data has been collected through Secondary resources.

    The source of Secondary data in this research is Questionnaires, Company website and books on

    Grievance Management.Nevertheless, a complex literature review has been conducted to learn

    more about selection and training of management.

    So some of the most common models and frameworks that explain selection and training of

    management were chosen. Furthermore, it was necessary to read about old models and

    frameworks since they often lay as the ground to the more modern theories.

    PLAN OF ANALYSIS:

    Interpreting the data collected and presenting in percentages.

    Usage of graphs and charts.

    Defining the impact of grievance on performance, satisfaction and attrition.

    RESEARCH LIMITATIONS:-

    Limited scope in terms of area

    Time constraint

    Employees hesitate to provide information regarding wage and salary and also about skills

    and knowledge.

    The analysis is generalized.

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    CHAPTER-3

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    COMPANY PROFILE

    PROFILE OF THE COMPANY

    Company Background - BL Kashyap & Sons Industry

    Name Construction & Contracting - Civil House Name Not Applicable

    Collaborative Country Name N.A

    Joint Sector Name N.A

    Year of Incorporation 1989

    Year of Commercial Production N.A.

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    Regd. OfficeAddress

    ''B-1 Extension/ E-23,

    Mohan Co-operative Industrial Estate,

    District- New Delhi

    State- Delhi

    Pin Code 110044

    Tel. No. 011-40500300

    Fax No. 011-40500333

    Email: [email protected]

    Internet: http://www.blkashyap.com

    Auditors

    Sood Brij & Associates

    Company Status N.A

    RegistrarsName Link Intime India Pvt. Ltd.

    ORGANIZATION STRUCTURE

    Page 36 of75Presidency college, Bangalore-560024

    Chairman

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    Name Designation

    Vinod Kashyap

    Chairman / Chair Person

    Vikram Kashyap

    Joint Managing Director

    H N Nanani

    Director

    Vineet Kashyap

    Managing Director

    Designation

    Page 37 of75Presidency college, Bangalore-560024

    MRP Dept.Quality Control

    DeptFinance Dept.HR Dept.

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    Name

    Vineet Kashyap

    Managing Director

    C K Mahajan

    Director

    P S Shenoy

    Addnl. & Ind.Director

    HISTORY

    Founded in 1978 as a partnership firm, BLK owes its success to B L Kashyap, a veteran

    construction professional. It was his vision to create an organization that would be admired and

    sought out for its professionalism and quality of work. This inspiration is still alive in our work

    ethic and forms the foundation of our success.

    Incorporated as a limited company in 1989, BLK is now promoted by his sons Vinod Kashyap,

    Vineet Kashyap and Vikram Kashyap, and managed by a team of management and industry

    professionals.

    Today, BLK is one of India's most respected constructions and infra- structure development

    companies with a pan India presence. Our service portfolio extends across the construction of

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    factories and manufacturing facilities, IT campuses, commercial & residential complexes, malls

    and hotels.

    Behind BLK's ability to offer world-class construction solutions is modern infrastructure across

    our offices and works establishments in North, South and Western India.

    At the heart of our success is the perfect blend of man and machine, working in unison and to a

    precise plan, to create world-class constructions and infrastructure.

    Continuing investments in machinery and equipment backed by consistent repairs and

    maintenance allows BLK to provide customers with world-class constructions at any location.

    Maintenance allows BLK to provide customers with world-class constructions at any location.

    PROJECT MANAGEMENT

    BLK's success and reputation of excellence is a direct result of our superior project management

    systems. This ensures perfect synchronization of manpower, equipment, construction schedules,

    Materials sourcing and availability. The result is optimal utilization of men, machines, finances

    and resources to deliver quality constructions on time and to defined costs.

    BLK seamlessly manages a combination of in-house teams, partnered resources and outsourced

    services, ensuring smooth implementation of projects irrespective of size, complexity or deadline.

    Materials are sourced or procured directly from manufactures, their agents or from reputedsources, quality checked, warehoused at our godowns or delivered to construction sites as

    required.

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    Dedicated site teams engaged in primary construction activities are supported by back-end teams

    to ensure timely implementation of the project and quality of the highest standards. All linked

    together by efficient communications and Information Technology.

    OPERATIONS

    BLK's operations currently extend over North, South and Western India and are coordinated

    through our corporate office at New Delhi and regional office at Bangalore. Headed by an

    independent Regional Director, each office is a 'center of construction excellence'.

    QUALITY

    Quality is a key driver at BLK and at the heart of our working. A systems approach to

    construction management perfected over 25 years, the use of modern equipment, teams of highly

    skilled and experienced workmen, superior materials, quality tools and constant supervision

    throughout ensures superior and consistent quality in all BLK projects.

    Senior site supervisors for all processes, elaborate documentation and reporting, in-organization

    quality audits, scheduled management visits and periodic reviews ensure quality workmanship,

    Finishing, detailing and on-time completion of projects. The glowing tributes of our clients, their

    repeat business and the expanding reach of our safety

    SAFETY

    At BLK, safety is a primary ingredient of our work ethic. We believe that every accident is

    preventable, and we embed this philosophy into every project we execute through a combination

    of technical field procedures and ongoing training programs.

    Our safety and health approach includes safety systems, on and off site training and a behavior-

    based safety program. Our commitment to zero accidents extends to every aspect of a project,

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    from planning to completion, and from the boardroom to the manpower on site. Every employee

    has stop-work authority - if it's not safe, don't do it.

    We also work closely with our subcontractors and construction partners to enable them to adopt

    and mirror our commitment to safety and health. The result is exceptional safety performance,

    even in hazardous work environments across locations. Our dedication to safety helps keep

    workers safe, and our customers happy. Operations are a testament to our quality and our

    commitment to customer satisfaction.

    ENVIRONMENT

    BLK is committed to environmental excellence and to harmonizing development with the

    environment. We understand that each of our projects - whether a manufacturing plant, a software

    facility, a corporate office, a housing complex, heritage hotel or an infrastructure development

    project, can affect people, animals, plants and the land. Our goal is always to protect the

    environment during a project, and to build in safeguards that will keep protecting it long after the

    project is complete.

    As part of our environmental policy, we:

    Communicate and instill an organizational commitment to environmental excellence in all

    our activities.

    Protect the environment by designing, constructing, and operating projects that avoid or

    minimize adverse environmental impact.

    Provide technical and economic information and advice to our customers on engineering and

    construction methods that prevent or minimize pollution.

    Identify potential environmental issues early and work with customers to find and

    implement solutions.

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    Assist customers in the process; of complying with environmental regulations.

    SERVICES GIVEN BY BL KASHYAP WITH A VIEW OF:

    INDUSTRIAL

    BLK undertakes turnkey construction of industrial facilities. From automotive plants to

    biotechnology plants, from food production facilities to newspaper printing facilities and more,

    BLK has done it all.

    We understand that time is money and have been known to complete the most demanding

    projects on or before time, to exacting standards.

    RESIDENTIAL

    With the growing demand for quality housing across the country, the development of residential

    complexes and high rise apartment blocks has emerged as an industry in itself, calling for

    specialized skills and ability to deliver at shorter time frames. BLK has emerged as a leading

    name in the segment, and has to its credit many of the landmarks around the country.

    From budget apartments to the super-premium category, BLK has delivered outstanding

    residential spaces on time and to defined costs for some of India's most discerning builders.

    IT CAMPUSES

    BLK has constructed some of the finest IT campuses that dot the Indian landscape for leading

    Indian and Fortune 500 companies. Built to exacting specifications and standards, these campuses

    have been widely acclaimed and have established BLK as the preferred contractor for discerning

    companies.

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    COMMERCIAL

    BLK has to its credit the construction of corporate offices of Major Indian and foreign MNCs.

    With a clear agenda of excellence in every detail, these offices have become landmarks in every

    city of their location, fusing design with execution and cost with quality.

    HOTELS

    The most respected names in the hospitality industry turn to BLK when they need construction

    par excellence. From luxury seaside resorts to super luxury urban hotels, BLK has delivered to

    exacting briefs, transforming design into hotels that are the pride of their owners.

    SCHOOLS & COLLEGES

    BLK has the unique distinction of having built infrastructure for many of North India's leading

    institutions. We understand the unique needs and systems of educational institutions and leverage

    our expertise of working with industry to create world class spaces.

    RETAIL/MALLS/MULTIPLEXES

    The country's thirst for leisure spaces has increased manifold in the recent past. The demand for

    world-class shopping and entertainment spaces is on the rise in both metros and Tier II cities.

    BLK is currently in the process of executing some of the biggest malls in North India.

    HOSPITALS

    The healthcare industry sets very stringent criteria when it comes to construction. With function

    as the top priority, followed by ergonomics and aesthetics, we know what it takes to build world

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    class healthcare facilities, having successfully constructed some of the country's most reputed

    super-specialty hospitals and healthcare centers.

    INDUSTRIAL

    Biocon research & manufacturing facility, Bangalore

    Britannia biscuit plant, Rudrapur, Uttaranchal

    Carraro India Ltd factory & office complex, Pune

    Escorts/Goetze India Ltd factory & office complexes, Patiala & Bangalore

    Hindustan Times press building, Greater Noida

    Maruti Udyog Ltd, Manesar - Gurgaon

    Metro Cash & Carry, Bangalore

    Rajasthan Spinning & Weaving Mills, Banswara

    Smithkline Beecham Consumer Healthcare Ltd malted foods plant, Sonepat

    Suzuki two-wheeler plant for Integra Overseas Private Ltd, Gurgaon

    Yamaha Motor India Ltd factory & office complex, Surajpur

    Hero Honda two wheeler Plant at Haridwar, UP

    Toyota Kirloskar Motor, Car Manufacturing Plant at Bidadi,

    Bangalore

    COMPETITORS OF THE COMPANY

    DLF:

    DLF's chief business is to develop housing, marketable and retail properties. Currently it has

    undertaken the development of 70 million sq ft of housing projects which it intends to finish in

    the next three years. DLF has joined hands with Delhi Development Authority to develop

    townships in Amritsar, Pune, Gurgaon, Mumbai, Chennai and Goa. DLF has been the

    construction company behind different malls in Hyderabad, Delhi, Bangalore, Mumbai, Amritsar,

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    Ludhiana, Kochi and Chennai. The company is also developing 50-75 hotels along with Hilton

    Hotels and infrastructure and SEZ in India in collaboration with Laing O'Rourke (UK).

    TATA PROJECTS

    Tata Projects registered an annual turnover of Rs 2,300 crore on July 1, 2007. With more than

    1,500 professionals the company has emerged as one of the chief player in EPC projects. Over the

    last four years, it has attained a CAGR of 50 per cent which quadrupled its annual turnover of

    2006-07. Tata Projects functions in concentrated divisions like broadcast and distribution, steel,

    power production, oil, gas and hydrocarbons and industrial infrastructure through its five strategic

    business units (SBU)

    GAMMON INDIA

    With an annual turnover of more than Rs 7,010 crore, Gammon India is famously known as

    'Builders to the Nation'. It is the one and only construction firm in India to get an ISO 9001

    authorization for its operational sectors in civil engineering and has successfully carried out

    diverse civil engineering operations some of which include constructing one of the longest river

    bridge in Asia at Patna across the Ganges and the longest bridge in India across river Jadukata.

    HINDUSTAN CONSTRUCTION COMPANY:

    The Company has a reputation of performing large-scale infrastructure projects besides

    developing hi-tech construction equipments. It has carried out a number of challenging and

    expensive projects in sectors like oil and gas pipeline, power, urban infrastructure, transportation,

    irrigation and water supply, etc. HCC has also acquired projects in countries like Iraq, Tanzania,

    Saudi Arabia, Bhutan and Sri Lanka. It was the first Indian firm to execute and sustain an

    integrated quality administration structure and has an annual turnover of more than Rs 2,394.50

    crore.

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    SOBHA DEVELOPERS LTD

    With an annual turnover of Rs 1,189 crore, Sobha Developers Ltd was initiated by the now

    chairman PNC Menon in the year 1995. On June 30, 2007, the company has 3,706 skilled

    professionals working for it. At present it owns Rs 3,500-acre land in eight Indian cities namely

    Coimbatore, Bangalore, Mysore, Chennai, Thrissur, Kochi, Pune and Hosur. The company's

    clientele include some of the top players in IT, hotel and construction sector such as Hewlett

    Packard, Mico, Infosys, Ramaraju Developers, Dell, Timken, etc.

    SHAPOORJI PALLONJI & CO

    The Company has more than 3,500 professionals working for it and is largely driven by its loyalty

    to consumer satisfaction. Some of the major projects undertaken by Shapoorji Pallonji & Co are

    World Trade Centre, Mumbai; TELCO industrial complex, Pune; Bhabha Atomic Research

    Centre, Kalpakkam; HSBC Bank, Mumbai; Hotel Taj Intercontinental, Mumbai; Bank of India,

    Mumbai; Indira Gandhi International Airport, New Delhi, etc. the company has created magnum

    opus of construction and has been a consistent executer of challenging projects.

    UNITECH

    Recently Ramesh Chandra, Unitech's Chairman has declared the investment of $ 720 million by

    his company in the coming four years to develop 28 hotels along with Marriott International. Its

    chief activities include construction, expansion of real-estate, consultancy in associated sectors,

    hotels, electrical broadcast and information technology.

    NAGARJUNA CONSTRUCTION COMPANY

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    The Company has a track record of more than 28 years and is structured in nine business

    categories including housing, water and environment, irrigation, transportation, oil and gas,

    electrical, metals, real estate and power. It has an annual turnover of Rs 7,300 crore and plays an

    active role in developing BOT road projects, seaports, BOOT hydropower projects, etc.

    PUNJ LLOYD

    Crowned as 'all-terrain specialists', Punj Lloyd is one of the biggest Indian engineering

    construction firms. The company performs its operations in Asia Pacific, China, Middle East,

    Europe, Africa, South Asia and Caspian. It provides services ranging from engineering to project

    administration, innovative designs to construction, to eminent clients like Petroleum Development

    Oman, British Petroleum, Pertamina, Shell, ADNOC, Cairn Energy, etc.

    BALANCE SHEET OF BL KASHYAP & SONS

    Mar06 Mar07 Mar08 Mar09

    12 mths 12mths 12mths 12mths

    Source of fund

    Total share capital 10.27 10.27 10.27 10.27

    Equity share capital 10.27 10.27 10.27 10.27

    Share Application Money 0.00 0.00 0.00 0.00

    Preference share capital 0.00 0.00 0.00 0.00

    Reserves 283.92 185.23 390.98 466.61

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    Revaluation Reserves 0.00 0.00 0.00 0.00

    Net worth 244.19 295.50 401.25 476.88

    Secured Loan 19.47 93.18 107.74 124.38

    Unsecured loan 000 000 10.00 140.00

    Total debt 19.47 93.18 117.74 264.38

    Total Liabilities 263.66 388.68 518.99 741.26

    12mths 12mths 12mths 12mths

    Application of Fund

    Gross Block 55.71 92.10 164.05 172.51

    Less:Accum Dep_ 12.95 22.14 37.65 56.04

    Net Block 42.76 69.96 126.40 116.47

    Capital work in progress 00.0 0.00 0.00 0.00

    Investment 140.50 145.42 67.29 14.24

    Inventories 57.57 115.82 258.80 230.68

    Cash & Bank balance 15.28 12.05 18.76 8.54

    Total current Assets 161.10 325.82 576.65 676.54

    Loan & Advance 43.61 112.83 223.47 326.08

    Fixed deposit 24.35 26.46 38.95 9.07

    Total CA,Loan & Adv. 229.06 465.11 839.07 1011.74

    Deferred credit 00.0 0.00 0.00 0.00

    Current liabilities 127.83 245.75 395.69 358.05

    Provision 27.18 50.78 121.24 44.71

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    Total CL & Provision 155.01 296.53 516.93 402.76

    Miscellaneous expenses 6.36 4.73 3.16 1.58

    Total Assets 263.67 388.69 518.49 741.27

    Contingent liabilities 25.00 75.50 104.85 83.65

    Book Value(Rs) 273.73 287.67 195.31 232.13

    CHAPTER-4

    ANALYSIS AND

    INTERPRETATION OF DATA

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    DATA INTERPRETATION

    1. Number of people satisfied regarding the job

    Poor Moderate Good Excellent

    12 40 38 10

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    Inference:

    Job satisfaction, a worker's sense of achievement and success, is generally perceived to be directly

    linked to productivity as well as to personal wellbeing. Job satisfaction implies doing a job one

    enjoys, doing it well, and being suitably rewarded for one's efforts. But from the above chart we

    see a certain degree of dissatisfaction regarding the job is affecting the employee. The percentage

    is only 12% but we cant ignore it because satisfaction regarding the job is very necessary .38%

    of employee are moderately satisfied with the job and 40% of employees satisfaction is high .

    10% of employee are completely satisfied with the job. So over all we can say that the employee

    satisfaction regarding job is up to the marks. And it is good for the company.

    2. Number of employee able to take stress of workload given by the organization

    Poor Moderate Good Excellent

    15 15 50 20

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    Inference:

    Work load is one of the major sensitive issues which directly affect decision of the project

    manager and HR manager. It always affects the rate of work. From the chart we can see that only

    15% of employee are unable to face the workload and 85% of employee are able to face the

    workload in which 50% employee feel that work load which is given by the project manager is

    tolerable which is good for the company and the project manager too.

    3. Perception regarding co-worker cooperation and their performance at work

    Poor Moderate Good Excellent

    10 18 42 30

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    Inference

    Perception regarding the co-worker and performance at the work place is very important issue for

    team work. As we know that the all work is perform in the construction company in team. So

    perception regarding the co-worker should be good. These chart shows that there is something not

    good in the organization i.e. 30% of employees dont believe on colleague and superior. But here

    60% of employee believes on their co-worker but the percentage must be higher than the present

    situation.

    3. Number of employee satisfied with the current remuneration

    Poor Moderate Good Excellent

    47 28 14 11

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    Inference:

    From the chart, we can easily know that about half of the employees are not satisfied with the

    current remuneration policy of the company. I think that the current recession may have impact

    on the remuneration policy of the company which may be improved in future. But present

    situation say that 47% of employees are not satisfied and 28% of employees are moderately

    satisfied. Only 25% of employee is satisfied with current remuneration

    5. Perception of employee regarding the benefits given by the organization

    Poor Moderate Good Excellent

    29 36 21 14

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    Inference:Benefit i.e. Monetary and Non monetary benefit which is given to the employee by the employer

    to motivate the employee at work place to perform well. Employees are also not satisfied with the

    current benefit which is given to the employees by employer. 29% employees are completely not

    satisfied with it and 36% of employees are moderately satisfied with it. So we can say that the

    grievances are existed in the worker regarding the monetary benefit. 35% employees are satisfied

    with the companys policy.

    6.Career advancement and promotion process in the organization

    Poor Moderate Good Excellent

    16 14 48 22

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    Inference

    There should have strong career advancement and promotion process in the organization which

    motivates the employees to work with their potential. A strong promotion process helps company

    to increase production and reduce cost. In this chart we see that 84% employees are satisfied with

    the promotion policy of the company. In which 14% are moderately 48% employees are satisfied

    with the promotion policy of the company and 22% employee have completely believe on the

    promotion policy of the company.

    7. Supervisors behavior with the employees at the work place

    Poor Moderate Good Excellent

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    08 48 20 24

    Inference:

    Supervisors good and healthy behavior is very much necessary at work place. It is one of the

    important factors which directly impact on the worker mind. If supervisor behave in well manner,

    it motivate the employee and courage them to perform with full potential but if behavior is not

    healthy, it reduce the production cost and also increase the employee turnover. But here we see

    that only 8% employee are not satisfied with supervisors behavior and 92% say to satisfied with

    it. 44% employees are satisfied with supervisors behavior at highest level and 48% are

    moderately satisfied but they are satisfied .It is good for the company.

    8. Process to promoting the people at supervisory position is:

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    Poor Moderate Good Excellent

    22 36 44 18

    Inference:

    Promotion process is very important aspect for the HR manager. If the company follows the

    healthy promotion process, it helps the organization to attract the potential employee in the

    company. The chart says that more than 80% employees are satisfied with the promotion policy of

    the company in which 48% employees are completely satisfied with it.37% employees are

    moderately satisfied but satisfied with it. It is good for the company as well as the potential

    employee.

    9. Level of team work and group work participation in the organization:

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    Poor Moderate Good Excellent

    6 22 34 38

    Inference:

    Now a day each and every department focused on the group and team work. It is become also

    important for the construction company to work as a team because it is the requirement of the job.

    From this chart it is clear that the workers participation in the team as a whole is excellent.38%

    employees believe that the working as a team is high and 34 % think it is good .Only 6%

    employees are not agree to the excellent team work of the company.

    10. Amount of guidelines and instruction given to the workers by supervisors

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    Poor Moderate Good Excellent

    10 18 48 24

    Inference:

    It is necessary for the organization to provide sufficient instruction and guidelines to the worker at

    right time to complete the work under the given schedule. If organization doesnt provide right

    and sufficient guidelines , worker and supervisor doesnt have ideas about the goal .In this

    chart ,we see that management provide the sufficient instruction to the subordinate.46%

    employees are agree to it and 20% employees have believe that company provide all kinds of

    instruction and guidelines. Only less than 10% have doubt on it.

    11. Communication at the work place

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    Poor Moderate Good Excellent

    16 30 42 12

    Inference:

    Communication on work place is very much necessary. Communication may be one way or two

    ways. It may be upward and downward. But it is better for the company to follow the two ways

    communication process. It is clear from the chart it is clear the higher number of employees

    i.e.84% believe that a healthy communication in the organization. Only 16% employees have no

    believe that communication process is not good enough in the organization.

    12 . Level of efficiency and productivity

    Poor Moderate Good Excellent

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    12 26 46 16

    Inference:

    Level of efficiency and productivity show the potential capacity of the employee in theorganization. If the efficiency and productivity is high, no doubt the employees who are working

    in the organization are potential employees. From the chart 46% employees say that the efficiency

    and productivity of the company is good and 16% employees believe that it is excellent. 26%

    employees say it is moderately good and 12% have believed that it is poor. But overall we can say

    that the productivity and efficiency of the company is very good.

    13. Working condition in the organization

    Poor Moderate Good Excellent

    18 38 32 12

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    Source: Field Investigation

    Inference:

    Healthy working condition is not only the important for organization but also the obligation for

    the company to provide the good working condition to the worker at work place. It makes

    comfortable to the worker at work place and helpful to reduce the work stress. Most of the

    employees are satisfied with the condition of work at work place. Only 18% employees think that

    it is not good enough but on the other hand 12% feel it is excellent.32% employees say it is good

    enough and 38% believe that it is moderately good. But overall we can say that after all it is good

    working condition at work place.

    14. Management gives the sufficient number of leave at right time

    Poor Moderate Good Excellent

    34 34 22 10

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    Inference:

    From the above chart it may be seen that the people dont get sufficient number of leave at the

    required time. We can see that 34% employees are not satisfied with the leave policy of the

    company and even 34% of employees moderately accept that they are satisfied. Only 10%

    workers are completely satisfied with the companys leave policy. It is very important for the

    management to understand the requirement of the employee and take decision rationally. Because

    if the employee will face any kind of problem due to lack of leave, it may create grievances

    among the employees.

    15. PF facilities are given by the company?

    Yes No Neutral

    6 88 6

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    Inference:

    PF i.e. Provident Fund is one of the important benefit which is given by the employer to their

    employee. It also gives the financial security to the worker from future uncertainty. It is obligatory

    for the company to provide PF facilities to the employees who have completed their term of fiveyears. If company doesnt provide PF facilities, Company may be punished by PF Act. From

    above chart, we can say that lots of workers are completely dissatisfied with the PF policy of the

    company. It is not good for the company for future. It may encourage employee to look for better

    option in future. Only 6% worker say that they are getting PF facilities and 94% is not getting

    these facilities. It is not good for company.

    16. Does working period impact on the family life?

    Yes No Neutral

    12 66 22

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    Inference:

    Probably it is seen