PRESENTATION

PRESENTED BY: NEHA SINGLA MBA 2C

ON

INDUSTRIAL TRAINING PROJECT

TITLE

STUDY OF EMPLOYEE SATISFACTION LEVEL At CORPORATE OFFICE (VARDHMAN TEXTILES LIMITED)

CONTENTS SCOPE OF INDIAN TEXTILE INDUSTRY COMPANY PROFILE Introduction to Employee Satisfaction Objectives of the study Review of literature Research methodology Limitations Data analysis and Interpretation Findings Recommendations Conclusion Bibliography

INDIAN TEXTILE INDUSTRY

Textile accounts for 14 % of India’s industrial production and around 27% of its exports earnings.

Industry uses a wide variety of fibers ranging from natural fibers to manmade fibers.

Providing direct employment to an estimated 35 million people, by contributing 4% of GDP and 14% of value addition in manufacturing sector.

It is the second largest employer after the agriculture sector in both rural and urban areas.

Almost all sectors of textile industry have shown significant achievement.

SEGMENTS OF INDIAN TEXTILE INDUSTRY

•Woolen Textile

•Cotton Textiles

•Silk Textiles

•Readymade Garments

•Jute And Coir

•Hand-Crafted Textile Like Carpets

•Man Made Textiles

VARDHMAN TEXTILES LTD.COMPANY PROFILE

Registered office/ corporate office : Chandigarh Road (Ludhiana, Punjab)

Date of incorporation : 27 December, 1962

Listings on Stock Exchange : Bombay Stock Exchange, National Stock Exchange (Mumbai)

The Vardhman Group was setup in 1962

Humble beginnings in 1965 at Ludhiana with a Spinning Mill with an installed capacity of 14,000 Spindles

In the year 1986 the group entered the sewing thread market with its plant at Hoshiarpur.

In the year 1986 Vardhman acquired Mohta Special Steels is known as Vardhman Special Steels, Ludhiana.

Historical Background of Vardhman Group

Vardhman commissioned our yarn unit in 2007 –with an initial capacity of 30000 spindles. The Unit is well on its way of achieving the ultimate capacity of 223416 spindles.

The integrated Unit of the group – Vardhman Fabrics - has also been commissioned in 2007.

The Group is, now, one of the largest textile conglomerate in the country with a turnover of about Rs. 2767 Crores (2009-10).

The Group presently (2009-10) with an installed capacity of 8.59 Lac spindles, 3768 rotors, 900 air jet looms

Listed Companies•Vardhman Textiles Limited (formerly Mahavir Spinning Mills Limited)

•Vardhman Acrylics Limited

•Vardhman Holdings Limited (formerly Vardhman Spinning & General Mills Limited)

Unlisted Companies

•VMT Spinning Company Limited

•Vardhman Yarns and Threads Limited

•Vardhman Texgarment Limited

The “Flame” signifies Growth

The “Stick” symbolizes cotton that is the Basic Raw Material of the Core Product of Vardhman.

The “V” stands for the Vardhman Group.

LOGO OF VARDHMAN GROUP

World Class Textile Organization producing diverse range of Products for the global textile market.

Committed to be a responsible corporate citizen.

“BEING WORLD CLASS SPINNERS BY PROVIDING HIGHEST QUALITY PRODUCTS WITHIN MINIMUM COST”.

MISSION

Vardhman – Rooted in Values, Creating World Class Textiles

•Superior Products, High Standards of Quality and Performance,•Distinctive Competitive Strategies and Highest Integrity and Commitment of the people.

Vision

PRODUCTS

Sewing Thread

ACRYLIC FIBRESTEEL

Fabrics YARN

Chairman and Managing Director Mr. S P Oswal

Managing Director, Vardhman Yarns and

Threads LimitedMr. D L Sharma

Managing Director, Vardhman Acrylic

LimitedMr. B K Choudhary

Executive Director, Vardhman Textiles

LimitedMr. Sachit Jain

Executive Director, Vardhman Textiles ltd. Ms. Suchita Jain

President and Director (Incharge Baddi

operations)Mr. I M J S Sidhu

Executive Director, Vardhman Textiles ltd. Mr. Neeraj Jain

Chief Executive,Vardhman Spinning and

GeneralMilMr. V. K. Goyal

Chief Executive Financial Controller,

Vardhman

Spinning & General Mills Limited

Mr. D.K Sindwani

BOARD OF DIRECTORS

Product/Process Global Partners

Fabric Dyeing and Finishing Takai, Senko, Japan

Fibre and Yarn Dyeing Nihon Sanmo Dyeing Corporation Ltd., Japan

Gassed Mercerized Yarns Kyung Bang, South Korea

Sewing Thread American & Efrid Inc., USA

Acrylic Fibre Marubeni Corporation & Japan Exlan, Japan

GLOBAL INTERNATIONAL ALLIANCE

THE CORPORATE OFFICE

Being in November 1995.

Chairman and Managing Director’s office Managing Director’s office

Executive Director’s office Corporate MIS department

Corporate Finance & Accounts department Corporate Taxation department

Corporate HR & Personnel department Corporate Raw Material dept

Corporate Secretarial department Central Marketing Yarns dept

Corporate Law department Corporate Exports department

Corporate Projects & Purchase department Corporate Internal Audit dept

Corporate Commercial department

Department Head of the department

Corporate MIS Mr. Neeraj Jain

Finance and Accounts, Taxation and

SecretarialMr. Rajiv Thapar

Central Marketing Yarns Mr. Vijay Puniyani

Exports Mr. Harinder pal Singh Rana

Projects & Purchase Mr. D.S. Kalra

Internal Audit Mr. Deepak Sood

Law and Commercial Mr. Rajesh Chopra

EDP & IT Mr. Z.S. Choudhry

HR Ms. Suchita Jain

Raw Material Mr. I.J. Dhuria

Functional departments housed in Corporate Office

The major functions of the department can be explained as follows – •Recruitment

1.Scheme recruitment (on campus and off campus - ET recruitment)2.Direct recruitment

•Salary administration for corporate office and for all employees across the Group falling in M4 and above

•Training and development

•Performance management

•Wage studies (workers)

•Getting the joining formalities done for employees joining in Corporate office

HR DEPARTNMENT

•Exit formalities1.Clearance / no dues forms2.Exit interviews3.Farewell

•Loan applications (general / furniture / vehicle)

•Administration

•Medical insurance (medical and group term)

•Summer trainees

•Handling internal queries / grievance of employees

•Strengths:-1.Good Brand Equity

2. Good technological base with Foreign Collaboration

3. High Quality Standards

4. High Production Capacity

5. Commitment for growth

•Weaknesses:-1.Comparatively high prices

2. Lesser degree of promotional activity

3. Long Hierarchy

SWOT ANALYSIS OF THE VARDHMAN GROUP

•Opportunities:-

1. As brand image is very good ,Vardhman can have some good customers.

2. Strict payments are strengths at times as well as weakness.

3. Customers shall be attracted to buy more and regularly.

4. Shortened hierarchy shall provide hope for better customer service.

•Threats:-

1.Smaller players in the market are using Vardhman’s process to push their product at lower prices.

2. Companies from south are entering into Ludhiana market.

3. Capacity of Yarn Spinning is increasing rapidly in comparison to increase in market size, resulting into the addition of new players.

INTRODUCTION TO EMPLOYEE SATISFACTION

Need of Employee Satisfaction Survey

Rapidly growing organization

High or growing turnover rate

Highly competitive industry

ELEMENTS OF JOB SATISFACTION

Importance of employee satisfaction in an organization

• To identify the factors which influence the Job satisfaction of employees.

• To observe the Human resource development in the Vardhman Textiles Limited at Corporate Office.

•To suggest measures to improve the Satisfaction level of employees.

Objectives of the Study

RESEARCH METHODOLOGY

RESEARCH DESIGNIn my research , Descriptive research design have followed  DATA COLLECTIONprimary data. Primary data is collected by Questionnaire.

 Sample Design and Size  Sample size is 100 employees

Sampling frame:

Sample frame = ALL Employees of different department at Corporate Office Sampling technique

• Snowball Sampling.

• Convenience Sampling.

Limitations of the Study

1. TIME

2. AUTHENTICITY OF FEEDBACK

3. ATTITUDE AND BEHAVIOUR 4. LIMITED KNOWLEDGE:-

Data Analysis and Interpretation

DEPARTMENT NO. OF RESPONDANTS PERCENTAG

E

MIS 7 7

FINANCE 17 17

MARKETING 11 11

EXPORT 15 15

IT 5 5

RAW MATERIAL 11 11

COMMERCIAL 7 7

LAW 4 4

INTERNAL AUDIT 6 6

SECATRIAL 6 6

HR 11 11

Table 4(a).1Belongingness to the DepartmentN=100

WORKING

EXPERIENCE

NO.OF

RESPONDANTS

PERCENTAGE

Less than 2 year 29 29

2-4 year 34 34

4-6 year 15 15

More than 6 year 22 22

Table 4(a).2 Working Experience of an Employee in an OrganizationN=100

80%

20%

Job Suits Educational Qualification and Career Abilities

YesNo

Table 4(a).3 Job Suits Your Educational Qualifications and Career Abilities

N=100

View the job Cumulative sum Percentage

(a) Challenging 49 27.07(b) Responsible 76 41.98(c) Motivating 30 16.57

(d) Secured 26 14.36

Table 4(a).4 View the JobN=100

Job Satisfaction factors

Cumulative sum

Work Environment

206

Salary Structure 405Job security 302Superior Subordinate Relations

338

Motivational factor

394

Leadership 455

. Table 4(a).5 Rank the attributes of Job Satisfaction

N=100

Level of satisfaction

-2Highly

dissatisfied

-1 Dissatisfied

0 Neutral

1 Satisfied

2 Highly

Satisfied

Total Mean

Work

Environment

0 0

7-7

23 0

6161

918 72 .72

10

0.2

0.4

0.6

0.8

MEAN 0.720000000000001

Level of Satisfaction

Work Enviornment

ME

AN

Table 4(a).6 Level of Satisfaction Regarding Work Environment

N=100

Level of satisfaction

-2Highly

dissatisfied

-1 Dissatisfie

d

0 Neutral

1 Satisfie

d

2 Highly Satisfie

d

Total Mean

Team Spirit,

Leadership

Skills

0 0

6-6

27 0

5858

918 70 .70

Table 4(a).7 Level of satisfaction regarding the Team Spirit, Leadership Skill in your department

N=100

Level of satisfaction

-2Highly

dissatisfied

-1 Dissatisfi

ed

0 Neutr

al

1 Satisfi

ed

2 Highly Satisfi

ed

Total Mean

Job

security

0 0

1-1

30 0

4848

2142

89 .89

0

0.2

0.4

0.6

0.8

1

MEAN 0.89

Level of Satisfaction

JOB SECURITY

MEA

N

Table 4(a).8 Satisfaction level towards Job SecurityN=100

Yes

No

46 47 48 49 50 51 52 53

Satisfaction Regarding Present Po-sition of the Company

Number of responses

Table 4(a).9 Satisfaction Regarding Present Position in the Company

N=100

65%

35%

Company Clearly Communicates its strategies, goals to employees

YesNo

Table 4(a).10 Company clearly Communicates its strategies, goals To Employees

N=100

71%

29%

Company spends Resonable Time, Ef-forts, Money in the development of

Employees

YesNo

Table 4(a).11 Company spend reasonable time, efforts, money in Human Resource Development of Employees

N=100

Yes No0

10

20

30

40

50

60

70

80

90

100

Quality Of Training given to the Employees

Number of responses

Table 4(a).13 Quality of Training and Development given to Employees

N=100

Facilities Cumulative sum Percentage

(a) Housing

facilities

11 5.61

(b) Medical facilities

52 26.53

(c) Life Insurance facility

55 28.06

(d) Transport

facilities

17 8.67

(e) Salary Structure

31 15.81

(f) Retirement Benefit

22 11.22

(g) Education facility

8 4.08

Table 4(a).14 Kind of facilities are provided to employeesN=100

Facilities -2 -1 0 1 2 Total Mean

Leave 3 -6

22 -22

300

4545

00 17 .17

Housing 5-10

30-30

540

77

00 -33 - .33

Life

Insurance

1-2

12-12

47 0

4040

00 26 .26

Education

al

Assistanc

e

5-10

28 -28

490

1919

00

-19 -.19

Retiremen

t

6-12

27 -27

46 0

19 19

0 0 -20 -.20

Health 3-6

27-27

290

3939

24 6 .06

Transport 6-12

30-30

450

1818

00 -24 -.24

Table 4(a).15 Satisfaction level towards facilities Provided in the Organization

N=100

Level of Satisfaction

-2 -1 0 1 2 Total Mean

Monetary

Incentives

7 -14

31-31

35 0

2121

612 -12 -.12

Growth and

Opportuniti

es

2-4

27-27

350

3333

36 8 .08

Performanc

e Appraisal

4-8

22-22

320

3838

48

16 .16

Table 4(a).16 Level of Satisfaction derived from various factors

N=100

Level of satisfaction

-2Highly

dissatisfied

-1 Dissatisfi

ed

0 Neutr

al

1 Satisfi

ed

2 Highly Satisfi

ed

Total Mean

Interperso

nal

Relations

0 0

1-1

21 0

7272

612 83 .83

0

0.2

0.4

0.6

0.8

1

Mean 0.830000000000001

Level of Satisfaction

Interpersonal Relations

mean

Table 4(a).17 Level of Satisfaction regarding Interpersonal Relations at Work

N=100

84%

16%

Your Superior Provide You Proper Feedback About Your Work

YesNo

Table 4(a).18 Superior provide you proper feedback about the work

GRAPH

Yes

No

27

73

Feel Stress with the Job

Number of responses

Table 4(a). 19 Feel any stress with the Job.

Table 4(a) 20. Overall Satisfaction level with the Job

Level of satisfaction

-2Highly

dissatisfied

-1 Dissatisfie

d

0 Neutra

l

1 Satisfie

d

2 Highly Satisfied

Total Mean

Overall

Satisfaction

1 -2

5-5

41 0

5050

36 49 .49

FINDINGS

CONCLUSION

 

SUGGESTIONS AND RECOMMENDATIONS

Company needs to revise the pay scale of the employees.

Timely and adequate increments should be there for the employees.

Organization should provide better Housing, Retirement benefits, Educational Assistance, Leave, Health, transportation facilities.

Employee motivation should be encouraged.

Interpersonal relations should be more developed. Superior subordinate relations should be fine and hierarchy should be shortened

Time to time profile changes for the employees

There should be job rotation for the employees in all dept , so the employees can know all other activities

Increase staff level salary taking into consideration current inflation

THANK Y

OU