Surbhi Mathur File

8/7/2019 Surbhi Mathur File

1/62

SUMMER TRAINING REPORT

ON

A STUDY ON ORGANISATIONAL CULTURE ANDEMPLOYEE SATISFACTION

STFCL(Shri Ram Transport & Finance Co. Ltd.)

Session 2007- 2009

JODHPUR INSTITUTE OF MANAGEMENTJODHPUR

SUBMITTED TO: - SUBMITTED BY: -

Mrs. Swati Lodha Surabhi Mathur

(Director) MBA PART II

1


2/62

CONTENTS AT A GLANCE

S.NO PARTICULAR

1 ACKNOWLEDGEMENT

2 PREFACE

3 INTRODUCTION

4 BACKGROUND OF THE COMPANY

5 H.R POLICIES OF THE COMPANY

6 EMPLOYEE SATISFACTION

7 WORKING ERA OF THE COMPANY

SWOT ANALYSIS

STEPS WHILE FINANCING COMMERCIAL VECHILES

8 ORGANISATION CULTURE

9 APPENDIX

10 QUESTIONNAIRE

11 CONCLUSION

12 BIBLIOGRAPHY

Acknowledgement

2


3/62

It is my immense pleasure to put forth my summer training reportA Study

on the Organization Culture and Employee Satisfaction at SHRI RAM

TRANSPORT AND FINANCE COMPANY LTD. JODHPUR.

I would like to express my warmest thanks and regards to Mr. ARVIND

SHARMA (DIVISIONAL MANAGER.)for giving me an opportunity to work in such an

esteemed organization- JODHPUR. thereby providing me with an invaluable exposure to

the industry. I also thank him for providing me with guidance, direction and advice at the

right time to make this project a real learning experience.

I would like to express my sincere thanks to Mr.Om Prakash Sharma

(Sr.Acct.Jodhpur Branch) for showing his inclination and cooperation with me during

this project work.

I would also like to thank the associates and the executives from all the

departments who gave me their valuable time and overwhelming response by providing

me with the necessary information.

I express my thanks to my colleagues who have supported me in helping to complete

the training .T his training has added lots of value towards my path of knowledge and

work skills for my future .Let me thanks to the SHRIRAM ORGANISATION for their

kind support.

Finally I would like to end this acknowledgement by thanking the customers,

people and office staff at large with whom I have interacted during the course of my

training.

INTRODUCTION

3


4/62

STFC was established in 1979 to finance the much neglected Small Truck Owner. Shriram

understood the power of 'Aspiration' much before marketing

based on Aspiration' became fashionable. Shriram started lending to the Small Truck Owner to

buy new trucks. But we found a mismatch between the Aspiration and Ability. The Truck Operator

was honest but the Equity at his command was not sufficient to support the credit command was

not sufficient to support the credit levels required to buy a new truck. We did not have the heart to

send the Truck Operator back empty handed; we decided to fund Pre-owned Trucks. This was

the most momentous decision that we made. What followed was sheer magic. From Driver to

Owner, even if only of a Pre-owned Truck and from Pre-owned Truck to the New Truck, we have

been with him in his journey of Prosperity as he has been our partner in our road to success and

leadership.

For us at Shriram, credit-worthiness of the Small Truck Owner has always been an article of faith.This faith has guided our journey from our pioneering days in financing Small Truck Owners to

the present day leadership. Today we are not only the leader in Truck Finance; we are also

India's largest Asset Based Non-Banking Finance Company. Today, Shriram has a network of

over 447 branches spread across the country; spanning a geography which covers 91.3% of

Truck Owners. Soon the coverage will be extended to enable us to reach 100% of Truck Owners.

Shriram employs nearly 10000 people and has Assets under Management (AUM) in excess of

Rs. 16785 crores (US$ 4.2 billion), with a live contracts of more than 6, 00,000 customers.

The inability of the economists to capture data relating to the economic activity of the informal

sector has resulted in its neglect at the policy-making levels in the government.

EQUITY PARTNERS

4


5/62

Citicorp Financial

Services (I) Ltd., an

arm of Citigroup has

taken 14.9% equity

stake in the company

in 2002.

The Shriram branch

network has been

instrumental in routing

over Rs. 800 crores to

the transport sector

through its strategic

alliance with the AXIS

Bank, who has

invested a little over

5% equity.

Venture Capital firm

ChrysCapital joins as a

strategic partner by

acquiring 21% equity

CHART SHOWING CORPORATE

INFORAMATION

BOARD OF DIRECTORS

CHAIRMAN7

(ARUN DUGGAL)

5


6/62

MANAGING DIRECTOR(R.SRIDHAR)

DIRECTORS

STFC was set up with the objective of offering the common man a host of

products and services that would be helpful to him on his path to prosperity.

Over the decades, the company has achieved significant success in reaching

this objective, and has created a tremendous sense of loyalty amongst its

customers.

Operational efficiency, integrity and a strong focus on catering to the needs of

the common man by offering him high quality and cost-effective products &services are the values driving STFC. These core values are deep-rooted

within the organization and have been strongly adhered to over the decades.

STFC prides itself on a perfect understanding of the customer. Each product

or service is tailor-made to perfectly suit customer needs. It is this guiding

philosophy of putting people first that has brought the company closer to the

grassroots, and made it the preferred choice for all the truck financing

requirements amongst customers.

6


7/62

BACKGROUND OF SHRAM TRANSORT ANDFINANCE COMPANY LTD.

The flagship company of the Shriram Group, Shriram Transport Finance Company Limited is

Indias largest asset financing institution Headquartered in Mumbai and with a pan India

presence, Shriram Transport provides accessible, affordable commercial vehicle finance to

almost 6,00,000 customers

Shriram Transport enjoys a track record of almost three decades (since 1979) in this business.

Shriram Transport is helped in this endeavor by its team of m sore than 9,600 employees

operating from 430 branches across the length and breadth of India Shriram Transport is a

holistic finance provider for the commercial vehicle industry and seeks to partner small truck

owners for every possible need related to their assets. Therefore, besides financing trucks (both

new and finance for tyres and engine replacement too. Shriram Transport also provides ancillary

services such as freight exchange and bill discounting besides offering co-branded credit cards.

Passenger vehicles, tractors and construction equipment have recently been added to the

Shriram Transport portfolio, making it a diversified, end to end provider of finance solutions to the

domestic road logistics industry. Shriram Transport had over Rs. 19,500 cr (USD4.88 billion) of

assets under management as on March 31, 2008. In 2007-08, Shriram Transport disbursed a

total of 11,589.70 cr, and earned Rs. 2,494.14 cr as total income. Its net profit stood at a robust

Rs. 389.83 cr. Shriram Transports excellent track record and credit worthiness are reflected in its

AA credit rating and its capital adequacy ratio exceeding the statutory 12 percent. The principal

stakeholders of Shriram Transport (besides the Shriram Group) are reputed institutions such as

TPG-New bridge, Chrys Capital, Citicorp, Axis Bank, etc., besides an overall family of 38,719

7


8/62

shareholders. Its shares are listed on the Bombay, Madras and the National Stock Exchanges.

On March 31, 2008 Shriram Transports market capitalization stood at Rs. 6,856 cr.

WHAT MAKES SHRAM DIFFERENT FROM OTHER TRASPORTFINANCE COMPANY?

Even as the government was forcing scheduled banks to increase their priority sector

lending, a whole section of Indians who had little more than ambition and entrepreneurial spirit,

faced insurmountable problems in availing monetary resources to fund their dreams. They did not

meet the prescribed credit worthiness test, nor had the requisite collateral to provide as security,

or even the required documents one needed. It was a vicious circle. One that did not allow for a

democratic growth pattern and fulfillment of stated policy objectives. Nowhere was this more

pronounced than in the financing of commercial vehicles where the financing of commercial

vehicles where remained just that aspiring . With a view to include a vast number of people in the

credit-consuming universe, we chose NOT to evaluate the present, but the future. Therefore,

money was lent not on the basis of what was, but what could be. And that has made all the

difference. A pre-owned truck is relatively far cheaper than a new truck, and hence, far more

affordable. To us, this gap in acquisition cost represented an untapped opportunity. Hitherto, the

financing of used trucks was the sole preserve of the unorganized moneylenders, and thus was

prone to subjectivity and abnormally high cost of funds. The going wasnt easy for us either.

Because we financed non-traditional borrowers, we were perceived to own high-risk assets.

Therefore, it was difficult for us to access funds. However, our gradually increasing dominance

and recovery discipline allowed us to turn the tide in our favor. Three decades and more than 6,

00,000 customers later, we have reason to be satisfied. We have been instrumental in

transforming lives by converting aspiration into ability. By perceiving high-risk as high opportunity.

8


9/62

By pioneering a whole new industry segment. By managing the gap between risk and reward. By

enhancing stakeholder value. What has made this possible? A combination of simple principles

which, at Shriram Transport now term Truckonomics the science of inclusive growth.

HRD OBJECTIVES IN STFCL

To continue to develop human resource with a view to bring change in attitude and work

ETHICS and to foster participative management.

To ensure that required quantity and quality of people are available at all time to help

STFCL to cope up with the challenges of change and growth.

Empowering people through prosperity.

Welcoming investors with open arms.

Successfully projected STFCL as a brand that is synonyms with quality, capability and

sensitivity.

NEED OF H.R IN STFCL

HUMAN RESOURCE is the most critical factor for any business, as for SHRAM TRANSPORT AND

FINANCE COMPANY LTD.Whole model revolves around Relationship.Therefor the need to recruit

GOOD TALENT is a requirement ,which cant be fulfill without H.R

9


10/62

WORKING ERA OF SHRIRAM TRANSPORT AND

FINANCE COMPANY LTD. (STFCL)

To manage product, people and presence STFCL helped in immense measure by a

process culture that the company is inculcating across the organisation. It implement

technology led process systems to make its appraisal and collection processes more

efficient. Company is ensuring a better quality and rapid delivery of credit to its

customers through these systems which allow augmenting the benefits of its relationship

based approach. It also focusing on interconnectivity among branches, and more than 88

percent of its branches are already covered. Processes will play a significant role in

growing volumes in the long term. In order to create a stronger organisation it has

invested in its systems and processes during the year. STFCL aiming a steep growth in

the coming years and would require robust systems to support and process larger

volumes. Besides, these systems should also enable and ensure good credit quality. As a

result, it resorted to a technological solution by implementing an online centralized web-

based application system - UNO. This system would allow seamless access to relevant

information for all the branches, real time. It would result in better controls and higher

levels of transparency across the organisation. To ensure fool-proof running of the

systems, the Company also set-up state of the art data centre and scaled up its disaster

recovery site.

Companies customer base is constituted by first time users and small truck owners and it

is the only large scale player operating in extending credit in this space. Given the growth

10


11/62

trajectory that India is on, company expects to consolidate this leadership further. The

commercial vehicles space is expected to continuously grow and the demand for the

underlying products it finance is thus expected to be robust. Given its increasing

diversification end-to-end solutions approach and an investment in building an

organisation around global best practices will ensure that its corporate growth remains

sustainable. The outlook is highly encouraging for a number of reasons: it has entered

new segments like passenger commercial vehicles and tractors and through which the

compant expect to further strengthen its customer base. Its new branches will mature and

contribute to its bottom line. Besides, STFCL growing presence and partnership alliances

will also help to grow more.

SWOT ANALYSISStrengths

The largest NBFC in India

Proven business model

The leader in pre-owned commercial vehicle financing

Pan India presence covering over 6,00,000

Customers

Strong, stable and experienced management

Extensive expertise in asset valuation

Strong financials

Weakness

Lower penetration in East and North Indian

MarketsOpportunities

Tap more clients through partnership with private

Financiers

Passenger commercial vehicle financing

Second hand tractor financing

11


12/62

Construction equipment financing

Threats

Economic slowdown impacting the freight

movements in the country will lead to defaults

from the truck operators due to absence of

income stream

Liquidity crunch in the banking system

STEPS WHILE FINANCING

COMMERCIAL VECHILES:

1. CUSTOMER FOLIO ENTRY

2. PROPOSAL MANAGEMENT

3. INITIAL MONEY COLLECTION

4. DISBURSEMENT MANAGEMENT

5. LOAN EXPENCES PAYMENT

6. LOAN CHANGES

7. CLOSURE MANAGEMENT

8. CUSTOMER FOLIO ENTRY

9. PROPOSAL MANAGEMENT

12


13/62

10. DISBURSEMENT MANAGEMENT

11. LOAN EXPENCES PAYMENT

12. LOAN CHANGES



1. CUSTOMER FOLIO ENTRY: UNO1.0VERSION is used in entire financing process. In UNO we have to feed all

the information required about the customer. It includes the below

information:

CUSTOMER INFORMATION

CUSTOMER FINANCER DETAILS

CUSTOMER I.D

CUSTOMER BANK NAME, A/C NO.

2. PROPOSAL MANAGEMENT: user has to give awritten proposal to the customer. UNO is used to generate the lending

proposal. This proposal is used to order to rout the proposal for internalapprovals and disbursement.

13


14/62

3. INITIAL MONEY COLLECTION: In case, themoney is received in the form of cash, this option is chosen. This option

includes:

UNIT

COMPANY

PRODUCT

PROPOSAL NO.

LOAN RECEIPT NO.

LOAN RECEIPT DATE

4. DISBURSEMENT MANAGEMENT: After theapproval of the proposal entry than collect the certain documents from

the customers .These are called post-approval documents and it can be

configured using the menu supporting documents.

5. LOAN EXPENSE PAYMENT:We haveto selecttransaction option.

6. LOAN CHANGES:Whenever the customer wants to change

the servicing unit, then the loans can be transferred to the unit option forthis it termed as service unit changes .Whenever there is a change in the

servicing units, the system would automatically balance the transaction

type wise and should pass a reversal entry in the old unit, those balance

booked again.

14


15/62

7. CLOSURE MANAGEMENT: Settlement proposalwould in the following case.

WHEN THE LOAN IS MATURED AND,

LOAN IS LIVE

The system would display the outstanding settlement amount if any form

the loan contact like arrears, over due charges, defined in the scheme

details .At this point if any money is collected from the customer, the

point if any money is collected from the customer, the same would be

entered through INSTALLMENT COLLECTION-own unit .The proposal

for settlement of loan contract would go through an approval route based

on the rules defined in loan and settlement approval rules.

8. COLLECTION MANAGEMENT:Once the proposalis approved the system would have the facility to record the PDCs

collected if any PDCs would be accepted even it is not mandatory as per

the proposal .The system would maintain the following details under the

post dated cheque.

9. INSURANCE MANAGEMENT: Insurancemanagement is started by enter transaction option in the UNO version

.This system has facility to maintain the insurance policy details .Here

only loan for which the insurance responsibility is defined as company

would be considered.

10. RECOVERY MANAGEMENT:WHEN the customerdefaults to pay his dues ,the client will follow up for the payment of dues by

sending reminder to the customer .The client may send the reminder letter even

15


16/62

after sending reminders ,if there is not progress in the collection ,the client may

initiate legal action .This option includes:

ASSIGNING THE ADVOCATE LEGAL NOTICE UPDATION

SEIZURE UPDATION OF SEIZED ASSETS

RELEASE OF SEIZED ASSETS.

1. MARKET FORMATION

There was one small problem. No one was ready to finance a used truck. The financing

were historical and driven purely by a business sense that gave more weight age to the due-

diligence based evaluation of asset quality rather than an intuition based assessment of borrower

capability. Therefore, in the absence of empirical valuation methods, and conventional credit

related documentation, pre-owned truck financing got branded as unattractive, low-ticket and of

course risky.

It is this space of used trucks that the company consciously positioned itself. The

benefits of this pioneering effort were almost immediate access to a ready customer base of

aspiring entrepreneurs who were bankable in terms of servicing of debts, given a chance. At

Shriram Transport, there is relationship based appraisal and asset valuation processes. While the

proper assessment of the customer provide the surety of the borrowers profile thorough the

creation of a lucrative asset portfolio.

Today, Shriram Transport finances vehicles which are anywhere between 5 to 12 years

old. Of course, Shriram Transport is also present in the new-truck financing segment, but with a

strategic twist. In the hierarchy of aspirations, a decreasing truck age leading eventually to a new

truck would be the logical growth-trajectory for our customers. At the same time, the new vehicles

financed would eventually return to the universe of used trucks. This is the principle of market

formation.

16


17/62

The market grows in two ways. Funding the customer multiple times and funding the

same asset multiple times. Recent industry estimations point towards a very interesting statistic.

By two years from now, the pre owned trucks market will be twice as large as that for new

vehicles. STFCL consider that its finance one out of every four old trucks in India, and one out of

every twelve new trucks, it is not too difficult to gauge the enormity of the opportunity it address.

However, it is difficult to underestimate the power of market formation. 14

2. EMPOWERMENT

The conventional overlooking of the converse was the source of STFCL most important

competitive advantage. It helped to discover a consumer base that were willing to service loans if

anyone would be willing to extend quick credit to them. These consumers were the Small Truck

Owners (STOs) and First Time Users (FTUs) and no, they were NOT risky. Thus, it has a market

that sustained high-growth, provided negligible NPAs with lower competition and incurred minimal

service cost. With of course, referral and repeat business. STOs are the owners of 1-4 vehicles

while the FTU is traditionally a driver-turned-owner, taking the first steps in transitioning into an

entrepreneur from an employee. Collection from this segment was always a challenge, given their

mobility, representing a difficulty for conventional banks. Thus, this segment was branded as risky

by the banks and large NBFCs and was often ignored. This left STOs with little choice except to

depend on the high-cost unorganised lending. So, Shriram Transport started swearing by STOs

(including FTUs).

The logic is, realized the potential of this segment way ahead of other players. The reasoning

was simple create the viability of repayment through incremental income. Not the liability of un-

profiting debt. The companies made customers realize the difference between debt servicing

and loan repayment .It realized the need to customize the credit appraisal process to suit the

customer profile. STFCL had to keep ITS books free of bad assets. As a result, the formal credit

evaluation tools were replaced by relationship based model. Risk of NPAs were minimize by

ensuring local guarantors assurance, maintaining peer pressure and keeping loan-to-value (LTV)

at around 60 percent. Today, about three-fourths of the trucks in India are owned by small truck

owners. Nearly three-decades of good track-record and portfolio health of the customers

established the segments credibility in the eyes of banks and large NBFCs, with the result that

everyone today, wants a share of this pie. Companys leadership is significant. Its market share is

significant. However, they are both insignificant 15

compared to the impact it has created in promoting viability and financial inclusion.

17


18/62

3. PATNERSHIP

While every NBFC and Bank lend funds or finance assets based on information-based credit

scoring model, at Shriram Transport resorted to relationship-based recovery management, the

first of its kind in the organised sector. The aim was not just to fund at every given opportunity butto create a fool-proof model for insulating the lending process from any potential loss. The first

step was to ensure regular sourcing of good business, not volume-driven but quality inspired. As

a result, a culture of accountability was introduced and the business generation team was also

made responsible for the recovery. The next step was to strengthen relationships with the

trucking communities across major markets in India. This was done through two ways one, by

sourcing a personal guarantee from another truck owner in the same trucking community and

two, by creating awareness about our products and services through road shows and campaigns.

These relationships didnt just ensure us of ready business but also provided us with an asset-

verification and tracking mechanism. Each of these relationships was nurtured and maintained at

a personal level by our regional representatives. The rest of the industry collected post dated

cheques on day one. Shriram Transport collected cash on every installment due date. Its cost

of collection was higher, but what this in house collection wing gave us was something invaluable.

It gave us an insight into the daily life of our customers. Even when the borrower defaults on

installments Shriram Transport chooses to take a case by case approach. In genuine difficulties,

Shriram Transport even goes as far as providing additional support to help them tide over their

difficulty and generate income. This relationship based approach has paid off rich dividends for us

our gross NPAs less than 2 percent and our net NPAs less than 1 percent one of the best in

the industry. In the process, it graduated an entire generation of

entrepreneurs to grow from being unbankable to being a part of the organised credit economy. Not

to mention, created a significant amount of wealth.

18


19/62

4. BRAND

STFCL faced a similar choice when it decided to shift focus to finance pre-owned vehicles. While

being with the majority meant continuing with new CVs financing, good ratings and access to low

cost funds, it also meant lower margins due to higher competition. At the same time, empowering

the majority meant higher risk perception, high cost funds but large demand potential and higher

margins. COMPANYS choice paved way for new challenges and the biggest one was arranging

cost-competitive funds. Due to the high risk perception towards the Companys target segment,

the low cost resources and satisfactory ratings became a constraint. As a result, we invested in a

comprehensive retail branding strategy. This resulted in enhancing presence across the major

trucking markets across India and building a large customer base. Funding the right asset was

also very critical as a customer had to be able to generate income from the asset in order to

repay his liability. In case the asset is of inferior quality, we would also stand to lose our

receivables as well as customer. As a result it developed a core competency in asset valuation

a model still unique in the industry. On the other hand, to strengthen the customer quality, it built

strong relationships and created a satisfactory track record of its customers.

Shriram Transports finance was largely dependent on retail deposits and as a result, the

core lending processes (i.e. credit appraisals, disbursement processes and recovery mechanism)

were strengthened to ensure minimal defaults and preventing any asset-liability mismatch. As a

result, we decided to keep direct interactions with our customers, thereby became the only

company

to have an in-house collection services for all its collections, as opposed to the common industry

practice of outsourcing collection function. 430 branches and6,00,000 customers, and a recently

upgraded AA credit rating later, stfcl is successful in changing the perception of the funding

institutions. Today, Shriram Transport is a preferred investment destination owing to its strong

brand, financial strength and credibility.

5. INCREASING RETUTRN

Shriram Transport commands a market share of about 25 percent in the pre-owned

CV financing. A market as large as thrice of its size still remains untapped. It hold a

19


20/62

huge advantage over unorganized players in terms of funding cost, valuation skills

and a large gamut of integrated products and services. It aims at increasing its

market share through widening its reach.

During 2007-08, we opened 72 branches taking the total to 430 branches across 23

states and 2 union territories. Its marketing initiatives are tailor made to the needs ofthe geographies we serve and are designed to generate interest and awareness.

During 2007-08, we organised 14 Truck Utsavs across 12 towns and cities in India.

These Truck Utsavs served as a cultural platform to promote interaction between the

management and the customers (existing and proposed). The Truck Utsavs drew

about 84,000 customers (existing and proposed) and enabled us to significantly

increase our presence.

As an inorganic initiative, it has embarked on tapping local markets through a

partnership with the private financiers. They constitute almost 75 percent of the pre

owned truck finance market. These financiers have the local knowledge but not

adequate funds to develop local demand. At the same time, the volume in those

areas is not large enough for Shriram Transport to open a dedicated set-up. As a

consolidation strategy, it provides these financiers with financial support, consultancy

services for asset valuation and strengthened its network and reach. These partners

would function under Shriram Transport brand name. As on 31st March, 2008, we had

already developed 490 relationships with such private financiers. While a deeper

network empowered us to grow stronger, a range of innovative solutions and

products has also accelerated our growth. As a result, it has been able to increase

the contract value per customer considerably. Financing the vehicle is not the end

but the beginning. As a result, STFCL aimed at emerging as a bank for its customers

by providing finance for pre-owned to new vehicles, credit cards (in association with

Axis Bank), working capital loans, tyre loans, engine replacement loans and bill

discounting. Besides, it also provide for freight exchange solutions through Ashley

Transport Services Limited a joint venture company with Ashok Leyland Limited.

Through this, it provide return loads to vehicles through its offices across 30 cities

for a nominal cost to the vehicle owner.

In addition, Shriram Transport is also leveraging its position to expand its product

portfolio by developing a vertically integrated business mode. , consisting three-

wheelers, tractors (including second-hand) and passenger vehicles.

6. PEOPLE

20


21/62

STFCL growth trajectory demands a continuous infusion of human capital. During

2007-08, we conducted the biggest recruitment drive of the last decade recruiting

4,742 people and taking the total strength to 9,694 employees. Being in a unique

business, it prefer enlisting fresh talents and train them extensively to understand

the industry and operational aspects. Local people are preferred because ofknowledge of the area and acquaintance to the grass-root nature of the geographies.

The emphasis is on both, classroom training as well as on-the-job acclimatization.

Post recruitment, an employee undergoes induction raining job acclimatization.

Post recruitment, an employee undergoes induction raining to gain an

understanding of the company, its operations and its growth path. Most of the

process related trainings are on-the-job and a communication-inspiring work culture

ensures bonding across hierarchies. Average age of the Companys employees is

about 28 years, enabling a mix of experience and youth to drive the

A. TRAINING PROGRAM AT STFCL:

At STFCL training programs strive to align its employees to the vision and values of the company

employees from all regions are trained at the centers in CHENNAI and MUMBAI by trainers within

the organization, who in turn under go mentoring by outside industry experts who study the

company and update the teaching skills of the trainers .There are 3 kinds of training given at

STFCL-

1. INDUCTION TRAINING

2. REFRESHER TRAINING

3. SYSTEM TRAINING

The HR process incentives the collection capacities of the field officer and this further encourages

collection efficiency of employees of the operation department have an opportunity to earn as

much as 100 percent of their salary as incentives.

B. A STRONG RESOURCE BASE: strong resource base andforesight are the two pillars shouldering the growth of an organization .

INNOVATION

21


22/62

1. CO BRANDED-CREDIT CARDS-During the year under review the company tied

up with UTI bank for issue of CO BRANDED CREDIT CARDS, with several safety

features, on the VISA platform, exclusively to the truck operators who have so far been

deprived of this facility .This initiative of the company would enable the large number of

small truckoperators in the country to enjoy the benefit of a credit card, for their social as

well as their day to day business needs.

2. FREIGHT EXCHANGE-With a view to offer value added services to the transport

industry as a whole, the company entered into a share holders agreement with ASHOK

LEYLAND LTD. Their associates for purchase of 40 percent stoke in ASHLEY

TRANSPORT SERVICES LTD (ATSL) it will provide an organizational framework and

set up network, between transport companies truck owners and other stock holders in

the transport industry and offers services in the transport industry and offers services in

the form of vehicle placement, micro financing and others services in a transparent and

cost effective manner.

D. CORP0RATE SOCIAL RESPONSIBILLITY

1. At STFCL, Conviction is to add quality to the lives of our customers

.Access to primary education and medical facilities, which are taken for

granted by many of us as basic needs, are like a mirage in a desert for

the families of truck owners and transporters. The company has taken

the owner of providing succor by undertaking the following initiativesConducting camps for free health check up for truck owner and

transporters in association with the local rotary club in all major cities and

towns.

2. Organizing AIDS awareness campaigns, due to a high incidence of the

disease among transporters.

Company also conducts regular eye check up s for the benefit of truck operator

Over the yrs organized more than 150 transporters meet and 600 exchange

camps ,attends by over 1000-1500 transporters each time .These meets and

exchange camps are also attended by companies from the industries such as

tyre ,oil ,diesel, engine and manufactures .It also provide assistance in claming

insurance for accident ,for getting back on their feets.

22


23/62

Performance Appraisal System

HR is responsible for Performance Appraisal of each Officer. It is also known as

Performance Management System (PMS), which is done quarterly for all the Officers.

Following are the steps of PMS-

Finalization of PMS Contract - For each officer, at the beginning of the Financial

Year, a Performance Contract Document is prepared. This document consists of the

Measures of Performance (MoP) for each officer, depending upon the area in which he

is working. The MoPs are not the list of activities, but these are the top 8 or 10 Key-

Deliverables of the Officer. The MoPs are divided under the Heads of Balance Score

Card, which are-

1. Financial Perspective

2. Customer Perspective

3. Business Process Perspective

4. Learning & Growth and

5. Special Projects.

For each of the MoP Parameter, Annual as well as Quarterly targets are also decided at

the time of finalizing the Performance Contract. These targets are Top Driven

(deployed from Companys Goals and Objectives)

Quarterly /Half Yearly Appraisal- Each Officer is then assessed in every Quarter

on these MoPs. I.e Plan vs. Actual. Based on the Actual Performance, each officer is

allotted scores under each MoP point on a scale of 1 to 5. The scores are also based on

the level of achievement. These Level of Achievement are also known as Level of

Performance (LoPs). The LoPs is also defined before hand, so that there is no

ambiguity in allotting the scores.

23


24/62

The Quarterly appraisal process consists of finalization of Score, Feedback from

Superior and from the Subordinate also. The feedback is generally in terms of

expectations from each other, spelling out Strengths and Weaknesses, specifying the

focus areas for future etc. This is done is presence of the HR Executive.

Qualitative Assessment- The MoP based PMS process measures/ focuses on the

results, however there are some traits like Proactiveness, Team Working, Attitude etc,

which can not be measured. To take care of these aspects and also to recognize some of

the best efforts, which may not have resulted into results, each officer is also given a

Qualitative Score. The Superior and Superiors Superior finalize this score.

Final Annual Score - Based on the MoP Score and Qualitative Score, each office gets

a Final Annual Score. Based on this Final Score and Companys performance, the

officers get the Performance Pay. The % of Performance Pay with respect to the Total

Annual Pay varies from Level to Level (Hierarchy based)

Reward & Recognition

During each Quarter, the Officers are Rewarded and Recognized for the efforts

put in by them in the areas of Cost, Quality, Productivity, Safety, and Housekeeping

etc. The Panel of Judges the Best Efforts and the Winners are given Letter of

Appreciation and token Cash Prize. The letters of appreciation are given in a function in

front of all officers.

Employee Satisfaction Survey

STFCL Conducts Employee Satisfaction Survey once in every year.

Satisfaction level is calculated for following Drivers-

Pride, future of organization & self

24


25/62

Interaction with Boss

Measurement & Compensation

Systems & Procedures

Team and TrustTraining

Based on the Overall and Driver wise scores, HR prepares Action Plan for

improving satisfaction level. The Plan is prepared with the help of Senior Management,

taking care of the expectations of officers under each of the Driver. HR ensures proper

implementation of the action plan with the help of the GM and the Steering Committee.

HR also conducts some Dip-Stick Surveys in between to measure the impact of the

efforts.

Other Initiatives-

In addition to above HR also co-ordinates the processes like Job Rotations,Promotions, Salary Revisions etc. based on Policies and Directives from Central HR

and with the help of the GM and the Steering Committee.

HR also works for Developing Internal Trainers. It identifies the officers, who have

the potential to become Trainers and then works with them to develop tam as Trainers /

Learning Enablers. It also adds to Personal Development of such officer.

HR also takes up many other initiatives, with the input from the GM and the Steering

Committee and as per the Organizational Requirement.

Procedure for training:

25


26/62

1. Identification of training needs :

The individual training needs of all officers will be identified by the officer with

his immediate superior and HR officer. This is also applicable to HR for personnel

working in their own.

HR will give the form for identification of training needs (TNAT forms) to

respective managers.

Respective managers will discuss the training requirements with manager- HR

and get the forms filled up from each officer, which shall include both QMS and EMS

requirements. The completed forms shall be given to manager- hr for further processing

and shall be retained by manager-HR for two years.

Every year, the training need identification process will be based on either the above

process or as per the guidelines issued by the central HR .

2. Organizational training needs :

The general manager will identify training requirements based on organizational needs

after discussing with the respective manager-HR. These training needs will be recorded for

formulating the Annual Training Plan.

3. Planning and organizing training programs and keeping records :

HR prioritizes the individual training needs and in consultation with the General

Manager. Annual Plan is prepared based on the Organizational Training needs and training

needs collected from TNAT.

The plan will be made by 15th may every year. The plan will indicate the contents of each

training program. The plan will be sent to all areas in first week of May every year. Based on

the Annual Plan, firm plan for the next month will be made every month. The annual plan and

the monthly plans will be retained as quality records with HR.

Based on the training plans, training programs will be organized- in-house or outside.

Participants may also be sent for outside training programs for specific training needs through

General Manager/ and Manager-HR.

26


27/62

After each program is held a record will be made in register giving the details of Title of

program, Names of Faculty, Dates and Duration and List of Participants Name, Token Number

and Function).

Records of Training Programs conducted will be maintained with HR for two years.

4. Planning and Organizing Training Programs and keeping Records :

Manager-HR will monitor the progress on the Training Needs collected with respect

to the plan on quarterly basis.

Appropriate corrective actions will be taken based on the review with the help of

respective managers.

The records of monitoring of training and corrective actions will be maintained with

Manager-HR as Quality Records.

5. Finding out training effectiveness:

Effectiveness will be measured into two parts:

Program effectiveness- Program effectiveness will be measured immediately after the

training program. This will have participants feedback on content, faculty, methodology, etc.

Program and training effectiveness records will be maintained only for programs, which are of

one day or more duration.

Training effectiveness- Is measured through reduction in Competency Gap, which is done

on annual basis.

6. Training of redeployed employees :

The department in charge in which any officer is transferred/ redeployed with change in his

nature of job and requiring training shall identify such officers training needs, impart either

classroom or on-the- job training and / or training to be imparted by HR and communicate the

same to HR.

27


28/62

7. Induction program for the new recruits :

The newly recruited employees joining the company will undergo induction-training programsorganized by HR.

- Communication

- Cross Functional Perspective

- Customer Focus

- Decision Making

- Innovation & Change

- Organizational Skills

- People Management

The Functional Competence was judged based on the Role Job Description Document.

Study of Organization Culture and Employee Satisfaction Survey

Organization culture:

Organization culture refers to a system of shared meaning held by members that

distinguishes an organization from other organization. This system of shared meaning is

on closer examination a set of key characteristics that the organization values. Research

suggests that there are seven primary characteristics that, in aggregate capture the essence

of an organizations culture.

Innovation and risk taking: The degree to which employees are encouraged to be

innovative and take risks.

Attention to detail: The degree to which employees are expected to exhibitprecision, analysis and attention to detail.

Outcome orientation: The degree to which management focuses on results or

outcome rather than on the techniques and processes used to achieve those outcomes.

People orientation: The degree to which management decision takes into

consideration the effect of outcomes on people within the organization.

28


29/62

Team orientation: The degree to which work activities are organized around

teams rather than individuals.

Assertiveness: The degree to which people are assertive and competitive rather

than easy going.

Stability: The degree to which organizational activity emphasis maintaining the

status quo in contrast to growth.

Each of these characteristics exits on a continuum from low to high. Appraising the

organization on these seven characteristics, then, gives a composite picture of the

organizations culture. This picture becomes the basis for feelings of shared

understandings that members have about the organization, how things are done in it, and

the way members are suppose to behave.

Organizational culture is concerned with how employees perceive the characteristics of

the organizations culture, not with whether or not they like them. Organizational culture

represents a common perception held by the organizations members. Therefore, it

should be expected that individuals with different backgrounds or at different levels in

the organization would tend to describe the organizations culture in similar terms.

In a strong culture, the organizations core values are both intensely held and widely

shared. The more members who accept the core values and the greater they commitmentto those values is, the stronger the culture is.

One of the important managerial implications of organizational culture relates to

selection decisions. Hiring individuals whose values dont align with those of theorganizations is likely to lead to employees who lack motivation and commitment and

who are dissatisfied with their jobs and the organizations. an employees performance

depends to a considerable degree on knowing what he should or should not do.Understanding the right way to do a job indicates proper socialization. Further more, the

appraisal of an individual performance includes how well the person fits into the

organization. The employees work habits, right attitude and good interpersonal skills

differ between jobs and organizations. As a result, the employee will be evaluateddifferently in different organization. Hence, proper socialization becomes a significant

factor in influencing both actual job performance and how others perceive it

29


30/62

EMPLOYEE SATISFACTION SURVEY

In a competitive world with the need for businesses to be more

streamlined and productive a company can often find itself with a

workforce working under pressure resulting in low moral and high staff

turnover. The benefits of a company having a highly motivated

workforce can be considerable and the two goals of having a workforce

that is both motivated and productive should not be regarded as being

mutually exclusive to one another. Left unattended, employers run the

risk of alienating their employees, events can cause employee

frustrations to boil over resulting in employers finding themselves on

the back foot, faced with a problem that cannot be ignored.

30

Objective factors:

Innovation and risk taking

Attention to detail

Outcome orientation

People orientation

Team orientation

Assertiveness

Stability

Organizationalculture

Hi

Low

Performance

Satisfaction

Strength

Perceived as

How Organizational Cultures Impact Employee Performance and Satisfaction


31/62

Employee Surveys help

Diagnose issues and overall organizational climate

Anticipate potential problems

Assess teamwork and management style problems

Measure the effect of organizational change

Employee surveys often accompany specific initiatives: strategic

planning, TQM, a move to teams, the balanced scorecard and the like.

Advantages of using Employee Satisfaction surveys

Retain valuable employees

Improve employee morale

Evaluate the effectiveness of work systems and quality improvement initiatives

Assess the impact of major organizational changes like rapid growth,

restructuring, mergers or down sizing

Evaluate human resource programs such as communication, training, benefits andcompensation

Assess the satisfaction of the customers

Identify new business opportunities.

With technology improving rapidly and costs continuing to drop,

organizations are conducting more sophisticated online surveys. No

longer confined to traditional paper-based surveys, companies are

reaching out more than ever for employee feedback. These surveys

include employee satisfaction, upward or "360" evaluations and the

performance review process. Online surveys now include open-ended

questions, multiple formats and complex branching tools, giving

31


32/62

businesses the potential to gather more insight about employees,

corporate culture and business processes than ever before.

The trends emerging with regards to online surveys are that, one,

companies want more employee measurement and two, and they are

using data gleaned from employee surveys to make a business case

for investments."

Determining the Need to Conduct an Employee Satisfaction Survey

Managers might be taking the pulse of theiremployees periodically, but employees are constantly

talking about where they work and who they work with

and work for. So it's a great investment to ask your

employees regularly what's on their minds using

employee surveys. Employee satisfaction surveys help

employers measure and understand their employees'

attitude, opinions, motivation, and satisfaction.

The need to survey is greater when one or more of the following factors are present.

1. Rapidly growing organization. When an organization is growing quickly, it is

critical to find out how employees feel about their jobs, the organization, and their

fit and future within it.2. High or growing turnover rate. While some industries have a naturally high

turnover, growing turnover is a problem for any organization. If your absolute

level of turnover exceeds the industry average, you have a problem that an

employee satisfaction survey is the first step to solving.

32


33/62

3. Excessive rumors. A strong rumor mill is symptomatic of other problems in the

organization. These can include communications, trust, and fear. Only a survey

can uncover the extent to which any of these issues exists.

4. Planned or recent organizational changes, including change of leadership.

Change can be difficult for many people. If not handled properly, productivity and

profits can decline.

5. Highly competitive industry. In a highly competitive industry, turnover

minimization and productivity and creativity maximization are keys to success.

Staying in touch with employees is necessary to facilitate continued

competitiveness.

6. Contemplated changes in pay and benefits. You must know what needs to be

"fixed" and how much "fixing" it needs to maximize return on invested money

and people resources.

At first glance, this may look like a daunting process, but it isn't. It actually takes only a

few weeks from start to finish. Committees, however, can slow the process considerably,

and in some cases result in poor decisions.

Objective of the project:

To look at some of the values and beliefs of the organization.

Understand the dimensions of employee engagement at STFCL that consistently

drive business outcomes.

Learn about the culture prevalent in the organization.

Determine corporate intervention and executive support.

33


34/62

Need of the project:

Learn about workplace strengths and review weaknesses.

Study about the relationship between the seniors and the subordinates.

Identify the satisfaction level of the employee at the workplace (job satisfaction).

Effective utilization of the various facilities offered by STFCL like canteen, library

Scope of the project:

A comparative study and analysis of STFCL organizational culture and employee

satisfaction survey was undertaken with the help of a questionnaire.

A sample size of sixty respondents (officers) was taken across various departments.

Two questionnaires were prepared - one for Organizational Culture and the other one

for Employee satisfaction.

Research Methodology

Research Design:

Questionnaires were prepared regarding

a. Organization culture.

b. Employee satisfaction.

The questionnaire on Organizational Culture comprised of questions relating tointeraction among the employees, level of communication, teamwork, risk taking,

proactiveness, encouragement from the superiors, trust, etc. A Likert scale with ratings

from 1 to 4 was taken.

The Employee Satisfaction Survey concentrated on the recreational side of the

organization like library, canteen facility .

34


35/62

Data Collection source:

The data was collected with the help of questionnaires prepared. A sample size of sixty

officers from different departments like Tractor assembly, Transmission assembly,

Hydraulic assembly, Marketing department, Accounts Department and Information

Technology was collected.

Sampling Plan:

1. A sample size of 60 respondents was taken.

2. The data was collected with the help of questionnaires.

3. The questionnaire on Organizational Culture was objective in nature. It was

divided into two sections. In the first section the key for the respondents was:

4---- if the statement is highly valued.

3---- if it is given a fairly high value.

2---- if it is given a rather low value.

1---- if it is given a very low value.

4. The second section of the questionnaire was based on the beliefs of the employees

of the organization:

4---- if it is widely shared belief

3---- if it is fairly widely shared

2---- if only some persons in the organizations shared this belief

1---- if only a few or none have this belief

5. 60% was taken as base line assumption which indicated the majority of the

responses for the given statement.

6. The questionnaire regarding Employee Satisfaction contained two open ended

questions and the rest were to be answered in Yes or No.

35


36/62

Findings and Analysis:

The entire questionnaire was divided into subgroups as follows:

1. Interaction and communication:

Around 80% of the employees feel that there is free interaction amongst them.

They give support and help to employees and colleagues in times of crisis.

Around 85% of the employees feel that there is free and frank communication

across various levels, which helps in sharing of information, feelings and

thoughts and also helps them in problem solving.

2. Behavior:

82% of the employees feel that they do not shy away from problems and do

what they say by taking independent actions related to their jobs.

There is a general feeling among the employees that they do not wish to rely on

others in times of crisis but perform their immediate tasks by changing behavior

on the basis on the feedback.

About 65% of the employees think that people of the organization are transparent

but on an average most of the employees think that effective managers put a lid

on their feelings.

3. Team building:

About 80% of the employees in STFCL believe in teamwork.

Its a fairly widely shared belief among the employees that individual

accountability does not get affected even when emphasis is given on teamwork.

4. Innovation and risk taking:

Though the employees want to try out innovative ways of solving

problems, face challenges to tone up the organization vitality but 75% of the

employees want to avoid experimentation in todays competitive situation.

36


37/62

Hence a fairly high value (69%) is given to tactfulness, smartness and

even a little manipulation like pass the buck tactfully when there is a problem

exists in the organization.

5. Interpersonal issues:

Although there is a good interpersonal contact and support among the

employees, they prefer to keep a little distance from doing in-depth analysis of

interpersonal issues.

Some employees in the organization (around 41%) share the belief that

telling a polite lie is not preferable than telling the unpleasant truth.

Only about 56% of the employees believe that freedom to employees will

breed indiscipline.

6. Encouragement:

Employees feel that seniors keep a close supervision on their subordinates

by allowing free discussion and communication between them.

73% of the employees feel that seniors encourage them to take a fresh

look at how things are done by giving them autonomy to plan their work and

thus help in the individuals development.

7. Trust:

The trust level in the organization is quite high (78%).

Employees (around 78%) without any fear confide with their seniors and

accept and appreciate help offered by others.

8. Decision making:

It is a widely shared belief (about 82%) among employees that only surfacingproblem is not enough but a solution is also required but decision regarding the

same consumes lot of time.

For doing so, they do not hesitate to check with and obey their seniors and

consider both positive and negative aspects before taking any action.

37


38/62

Still the employees feel a little hesitant in owning up to their mistakes.

9. Proactive ness and productivity:

There is a very high belief (around 87%) that prevention is better than cure.

Compared to the above statement, only 79% of the employees feel that doing

work on time is productive.

A second method of analyzing the questionnaire on organizational culture was

undertaken wherein the forty questions were divided into eight groups under the

head openness, confrontation, trust and crisis, authenticity, proaction, autonomy,

collaboration and experimentation.

Analysis:

The questions were arranged group wise and the percentage of individual responses

(i.e.1, 2,3,4) with respect to the total number of responses were found out.

1. Openness:

This parameter contains questions related to communication and sharing of

information, interaction among employees, attitude of managers and employees.

2. Confrontation:

Facing challenges, passing the buck tactfully during a problem, deeper analysis of

interpersonal problems and finally finding a solution to the problem. These are the

issues that every employee has to confront and a few questions on these issues are

put under this head.

3. Trust and crisis:

There are questions regarding trust between the employees and with their seniors,

providing moral support and help during crisis.

4. Authenticity:

Under this head, there are questions regarding authenticity, honesty of the

employees, congruity between their feelings and their expressed behaviour.

38


39/62

Whether the employees own up to their mistakes and shy away from telling the

unpleasant truth are incorporated under this parameter.

Sr.no Parameters

Responses (%)

1s 2s 3s 4s1. Openness 3.81 22 41 33.33

2. Confrontation 4.76 22 40 33.33

3. Trust 6.67 20 41 32.38

4. Authenticity 11.42 23.29 43.29 22

5. Proaction: This parameter includes questions, which judge whether preventive and

timely actions on most matters along with their positive and negative aspects are

taken under the supervision of the seniors.

6. Autonomy: Independence and freedom to the employees in their job, motivating

employees by giving autonomy to plan their work and close supervision and

consulting the seniors before handling any work are the aspects on which questions

are framed and put under this title.

7. Collaboration: Under this head, there are questions pertaining to team work and

providing help and assistance to their colleagues. Questions related to the

achievement of organizational goals and productivity are included under this head.

8. Experimentation: Encouraging the employees to try out new techniques of problem

solving, giving feedbacks, doing new things and consolidation are undertaken in

the organization. All the questions regarding these aspects are put under this title.

Sr.no Parameters Response(%)

1s 2s 3s 4s

5. Proaction 3 20.2 38.32 38.32

6. Autonomy 8.57 23.8 41 26.67

7. Collaboration 3.81 27.61 36.19 32.38

8. Experimentation 3.81 21 47.61 27.62

39


40/62

These figures depict the percentage of an individual response to the total number

of response per group i.e.3.81% responses are 1 as in the case of group one. From

the above table it can be inferred that major share of the responses are either 3 or

4.From the above findings we can infer that the employees quite strongly believe

and value the above parameters in the organization.

Here,

4- If it is highly valued and widely shared.

3- If it is given a fairly high value and fairly shared.

2- If it is given a rather low value and only shared by some persons.

1- If it is given a very low value and only a few or none have this belief.

A graph showing the percentages of responses has been plotted for each parameter

(see appendix).

Employee Satisfaction Survey

The data was collected from a sample of sixty officers across various departments

of STFCL JODHPUR with the help of a questionnaire.

Findings and Analysis:

1. Future in the organization: Around 71% of the STFCL employees feel that they

have a bright prospect for professional growth in The employees can work

effectively since the management, to each and every employee, communicates the

future plans of the organization.

2. Leadership of the organization: A fairly high number of employees (68%) have

confidence in the leadership of their Performance Unit. They also find that the

organization has an effective system in place to enable employees share learnings

with one another.

40


41/62

3. Performance and feedback: Around 70% of the employees are satisfied with the

manner in which their performance are rated and receive good recognition and

praise for their good performance. The supervisor provides feedback about the

employees work time and again. This enables the employees to improve upon

their mistakes and enhance their performances.

4. Training: A good number of employees (74%) find that the training, which they

receive, is appropriate for their jobs and they are satisfied with the quality of

training provided to them.

5. Rewards and compensation: Around 72% employees feel that the performance

management system ensures adequate rewards for good performance. But a fairly

high number of employees (around 65%) are not satisfied with the overall

compensation package offered by the organization.

6. Food and Hygiene:The food being provided in the canteen is of average quality

and taste. The hygiene conditions observed in the canteen are not up to the mark.

7. Library: The libraryshould be updated with more books of latest edition. A PG

wise library would help the officers choose the books related to their field of

work.

1. becoming get enough time to spend with their family .The quality of the food in

the canteen should be improved and more variety should be added. E.g. Fruits,

buttermilk, etc.

.

2. The compensation package offered to the employees should be altered in order to

meet the employees satisfaction.

APPENDIX

41


42/62

Here,1---------- Interaction and Communication

2---------- Behavior

3---------- Team Building

4---------- Innovation and Risk Taking

5---------- Interpersonal Issues

6---------- Encouragement

7---------- Trust

8---------- Decision Making

9---------- Proactiveness and Productivity

42

organizational culture

0.00%

20.00%

40.00%

60.00%

80.00%

100.00%

1 2 3 4 5 6 7 8 9

group

% Series1


43/62

Table showing various parameters of organizational culture

43

organizational culture

81.18%

70.93%

69.50%

73.67%63.56%74.30%

78.08%

76.06%

79.06% 12

3

4

5

6

7

89


44/62

Serial No. Parameters Percentages

1. Interaction and

communication

81.18%

2.

Behavior

70.93%

3. Team building 69.50%

4. Innovation and risk

taking

73.67%

5. Interpersonal issues 63.56%

6. Encouragement 74.30%

7. Trust 78.08%

8. Decision making 76.06%

9. Proactiveness and

Productivity

79.06%

Organizational Culture

Percentage of responses for each parameter

44


45/62

Openness

0

10

20

30

40

50

1 2 3 4

Responses

% Series1

Confrontation

0

20

40

60

1 2 3 4

Responses

% Series1

Trust

0

20

40

60

1 2 3 4

Responses

% Series1

45


46/62

Authenticity

0

20

40

60

1 2 3 4

Responses

% Series1

Proaction

0

20

40

60

1 2 3 4

Responses

% Series1

Autonomy

0

20

40

60

1 2 3 4

Responses

% Series1

46


47/62

Collaboration

0

10

20

30

40

1 2 3 4

Responses

% Series1

Experimentation

0

20

40

60

1 2 3 4

Responses

% Series1

47


48/62

GRAPH SHOWING SATISFACTION PARAMETERS OF THE EMPLOYEES

BY THERE PERFORMANCE

ESS

0%

10%

20%

30%

40%50%

60%

70%

80%

futu

reinth

eorga

nizatio

n

lead

ership

ofth

eorga

nizatio

n

perfo

rman

ce&feedba

ck

trainin

g

reward

compe

nsatio

n

long

worki

nghou

rs

employee's belief

Series1

48


49/62

Table showing various PERFORMANCE APPRAISAL parameters

Serial No. Employees belief Percentages

1.Future in the organization

71%

2.Leadership of the organization

68%

3.Performance and feedback

70%

4.Training

74%

5.Rewards

72%

6.Compensation

35%

7.Long working hours

69%

Questionnaire

49


50/62

Topic :The Study of Employee Satisfaction Survey at STFCL.

Q.1) a)Your Name .

b)Age .

c)Sex

Q.2) Are your prospects for professional growth in Finance sector is bright?

a)Agree b) Disagree

Q.3) Does the organization have a strong customer focus ?

a) Yes b) No

Q.4) Is innovation encouraged in day to day working ?

a)Strongly b)Average c)Not at all d)discouraged

Q.5) Are decisions in the organization taken without unnecessary delays ?

a)Yes b)No

Q.6) Do you have confidence in leadership of your performance unit ?

a)Fully b)Partially c)Not at all

Q.7) Are you satisfied with the manner in which performance is rated?

a)Yes b) No

Q.8) How does performance management system ensure rewards for good performance?

a)Appreciation b)Promotion c)Bonus d)No rewards

Q.9) Do you get any feedback from your supervisor about your work?

a)Yes b)No

Q.10) Is the type of training which you receive relevant / appropriate to your job ?

a) Yes b) No

Q.11) What do you think about the quality of training you receive?

50

F M


51/62

a)Excellent b)Good c)Fair d)Not good

Q.12) Does the management communicate the future plans related to new policies of the

organization to each and every employee ?

a) Yes b)No

Q.13) Do you think the job hours allow you to spend enough time with your family andfriends?

a)Yes b)No

Q.14) How is the quality of canteen food?

a) Very good b)Good c)Average d)Poor e)No canteen

Q.15)Do you utilize the library ?

a)Yes b)No

Q.16)Suggest if you want any creative change in organization

51


52/62

Organizational Culture

Organization culture study

Answer sheet

Name: Role:

Organization: Date:

This instrument will help you to look at some of the values and beliefs of your

organizations. Given below are statements that indicate some organizational values. If

these are values of top management they generally will be in the organization. Read each

statement and give your response on the answer sheet. After reading a statement, respond

on the blank beside the corresponding number on the answer sheet. Your response should

indicate how much the spirit contained in the statement is valued in your organization.

For items 25 to 40, check how widely each belief, stated there is shared in the

organization. Please be frank. Use the following key for your responses:

Write 4 if it is highly valued.

Write 3 if it is given a fairly high value.

Write 2 if it is given a rather low value.

Write 1 if it is given a very low value

Organization culture questionnaire:

52


53/62

Indicate your responses to the following statements

1. Free interaction among employees, each respecting others, feelings, competence

and sense of judgment.______

2. Facing and not shying away from problems._____

3. Offering moral support and help to employees and colleagues in a crisis.______

4. Congruity between feelings and expressed behavior (minimum gap between what

people say and do).______

5. Preventive action on most matters.______

6. Taking independent action relating to their jobs._______

7. Team work and team spirit._____

8. Trying out innovative ways of solving problems._____

9. Genuine sharing of information, feelings and thoughts in meetings.______

10. Going deeper rather than doing surface-level analysis of interpersonal

problems.____

11. Interpersonal contact and support among people._____

12. Tactfulness, smartness and even a little manipulation to get things done.______

13. Seniors encouraging their subordinates to think about their development and take

action in that direction.______

14. Close supervision of, and directing employees on, action._______

15. Accepting and appreciating help offered by others.______

16. Encouraging employees to take a fresh look at how things are done.______

17. Free discussion and communication between seniors and subordinates.______

18. Facing challenges inherent in the work situation.______

53


54/62

19. Confiding in seniors without fear that they will misuse the trust.______

20. Owning up to mistakes.______

21. Considering both positive and negative aspects before taking action.______

22. Obeying and checking with seniors rather than acting on your own._____

23. Performing immediate tasks rather than being concerned about large

organizational goals.____

24. Making genuine attempts to change behavior on the basis of feedback._____

Use the following key for the remainder of your responses:

Write 4 if it is widely shared belief.

Write 3 if it is fairly widely shared.

Write 2 if only some persons in the organizations share this belief.

Write 1 if only a few or none have this belief.

25. Effective managers put a lid on their feelings._____

26. Pass the buck tactfully when there is a problem._____

27. Trust begets trust.____

28. Telling a polite lie is preferable to telling the unpleasant truth._____

29. Prevention is better than cure._____

30. Freedom to employees breeds indiscipline______

31. Usually, emphasis on team work dilutes individual accountability._____

32. Thinking out and doing new things tones up the organizations vitality.______

54


55/62

33. Free and frank communication between various levels helps in solving

solutions._____

34. When the chips are down you have to fend for yourself (people cannot rely on

others in times of crisis)._____

35. People generally are what they appear to be.______

36. A stitch in time saves nine.______

37. A good way to motivate employees is to give them autonomy to plan their

work._____

38. Employees involvement in developing an organizations mission and goals

contributes to productivity._____

39. In todays competitive situations, consolidation and stability are more important

than experimentation._____

55


56/62

Conclusion:

1. There exists a healthy and vibrant culture in the organization.

2. There is a high level of trust among the employees and proactiveness in the

organization.

3. Productivity is the higher organizational goal and the employees strive hard to

achieve the goal.

4. Employees are a little conservative about experimentation but they welcome

change as and when required.

5. Good interpersonal skills and high communication level has been observed within

the organization.

6. The employees do not mind working in teams and thus share and learn from each

others experience.

7. STFCL has a strong customer focus and majority of the employees feel that they

have bright prospects in the organization and in the FINANCE Sector as a whole.

8. The employees receive recognition and praise for their performance. Thus, the

performance level gets a boost in the organization.

9. It has been found that the employees are not very satisfied with the compensation

package offered by the organization.

Recommendations:

3. The organization should encourage its employees to experiment with the latest

technical innovations so that he can achieve the organizations vision of becoming

the world leader in tractor manufacturing.

4. Employees should be given more freedom to show their capabilities and thus

increase the prospects for their professional growth..

5. The decision should be taken without any delay or postponement so that solution

can be found and action can be planned quickly.

6. The job hour does not allow the employees to spend quality time with their

families and friends. So, the job hours should be changed such that the employees

56


57/62

get enough time to spend with their family .The quality of the food in the canteen

should be improved and more variety should be added. E.g. Fruits, buttermilk, etc.

.

The compensation package offered to the employees should be altered in order to

meet the employees satisfaction

57


58/62

BIBLIOGRAPHY

1. www.google.com

2. Extracts from the Training and Development journal.

3 STFCL INTRANET

.4 Extracts from the book titled Organizational Behaviourby C.H CHANDAN

5.YELLO PAGES.

58


59/62

CONTENTS AT A GLANCE

S.NO PARTICULAR

1 ACKNOWLEDGEMENT

2 PREFACE

3 INTRODUCTION

4 BACKGROUND OF THE COMPANY

5 H.R POLICIES OF THE COMPANY

6 EMPLOYEE SATISFACTION

7 WORKING ERA OF THE COMPANY

SWOT ANALYSIS

STEPS WHILE FINANCING COMMERCIAL VECHILES

8 ORGANISATION CULTURE

9 APPENDIX

10 QUESTIONNAIRE

11 CONCLUSION

12 BIBLIOGRAPHY

59


60/62

60


61/62

61


62/62

Date post:	08-Apr-2018
Category:	Documents
Upload:	pawan-suthar
View:	225 times
Download:	0 times

Surbhi Mathur File

Documents

Report By: Surbhi Bagaria surbhi@dynamiclevels · Report By: Surbhi Bagaria ... 25 acres of dedicated gardens, a sports academy, Monorail and Eastern Express Highway in the vicinity.

Hand written audit notes by surbhi bansal.pdf

Surbhi Ghodke - CASA (College of Architecture)

Ratna & surbhi exploratory study on rte implementation

Report By: Surbhi Bagaria [email protected] Report ... · Report By: Surbhi Bagaria – [email protected] . Page 2 Source: Company, JBM Auto Ltd- Think Globally Act

Kapil mathur

Deepak Mathur

B.ed. PDF Submitted by Surbhi

Surbhi Final Project

Surbhi Industries Limited Regd. Olfloe 'Surbhi House', F. P. No. 206 ...€¦ · Surbhi Industries Limited Regd. Olfloe : 'Surbhi House', F. P. No. 206, Blh. Old Sub Jail, Ring Road,

Report By: surbhi@dynamiclevels - Amazon Web Services

Eco Project - Smriti, Sonal, Surbhi

Surbhi engineers

Copy of SURBHI TYAGI

26_final Notes ( Surbhi Bansal)

Surbhi Bansal Auditing Notes

Water Conservation_RM Mathur

Mohan mathur -_facts