SUMMER TRAINING PROJECT REPORT ON EMPLOYEE SATISFACTION
PANTALOONS RETAIL INDIA LIMITED
FOR THE PARTIAL FULFILLMENT OF THE REQUIREMENTFOR THE AWARD
OFBACHELOR OF BUSINESS ADMINISTRATION
SUBMITTED BY:IN SUPERVISION OF: Pramod pal MISS SINDHURA
CHOWDARY BBA 2010-13 MISS RUCHI GUPTA
APPROVED BY CCS UNIVERSITY, MEERUT) NH-24 VIJAY NAGAR BYPASS,
GHAZIABAD. (U.P.)
ACKNOWLEDGEMENT
It is with a deep sense of gratitude that I acknowledge the
cooperation and support of PANTALOONS RETAIL INDIA LIMITED, SHIPRA
MALL GAHZIABD which gave me the unique privilege of completing my
research project by visiting its premises for about two months and
provided me with an opportunity to interact with the various
personnel. I am particularly grateful to MR KAMAL SONI, STORE
MANAGER, who gave me the opportunity to work with the organization.
I am extremely grateful to my guide and project coordinatorI am
also grateful to MISS SINDHURA CHOWADRY, SENIOR HR Executive, It
was indeed very gracious of her to spare her valuable time and to
give an elaborate insight into the functioning of the company as
also to answer all my queries patiently. I sincerely express my
gratitude to her. I am indebted to all the employees, and all the
other officers of the company for their cooperation. I am thankful
to each and every employee of pantaloons for co- operating in their
best possible manner.
Pramod Pal
DECLARATION
I Pramod Pal, student of BBA, IPEM, Ghaziabad, hereby declare
that the project report on EMPLOYYE SATISFACTION IN PANTALOONS
RETAIL INDIA LIMITED. is an original and authenticated work done by
me. I further declare that it has not been submitted else where by
any other person in any of the institutes for the award of any
degree or diploma.
Pramod PalDate: 03 SEPTEMBER 2012
PREFACE
The project report on EMPLOYEE SATISFACTION has been carried out
at PANTALOONS RETAIL INDIA LIMITED, GAHZIABAD.Summer training
program of BBA forms an integral part in the curriculum. It is
designed to expose students to real life industrial problems. It
helps students in applying theoretical concepts to real life
systems. So I have developed this project by hard work and deep
study. Business has always been competitive. Yet the kind of fierce
competition being witness now has not been witness before. Gone are
the days of monopolies and with the advent consumerism, more and
more corporate houses are beginning to realize that the ultimate
competitive advantage of any business over its rivals will be
provided by its people. Technology is no longer a monopoly nor is
availability of money. But what may be a monopoly would be the
PEOPLE associated with any business organization. This is the
essence of HUMAN RESOURCE DEVELOPMENT. Thus HRD in wider
connotation is the managements philosophy, and holistic concept on
business oriented concept, a system approach that concern all human
activities in the business, individual, team, culture,
philosophies, ethos etc. It is proactive, pragmatic, realistic,
businesslike approach by motivating, by inspiring and creating
satisfaction by building the positive and open culture, by
encouraging research and development activities, by encouraging
constructive innovations etc. Since every organization is made of
people, hiring their services developing their skills, motivating
them to high level of commitment to the organization are essential
to achieve organizational objectives. Therefore getting and keeping
good people is the first goal to achieve though unified efforts,
the degree of success depends on employees reaching their
individual goal through organizational goal, is an important
determinant for organizational effectiveness. Compiled by;Pramod
Pal
EXECUTIVE SUMMARYThe topic of the project is to know the Level
of Employee Satisfaction in Pantaloons Retail India LIMITED. The
main purpose of this project is to know the acceptability of
performance appraisal system among the employees of the
organization. To know the effectiveness I have design the
questionnaire form which I have distributed among the employees of
the organization.I have also taken the help of the past record of
the employees for the appraisal. I have used exploratory as well as
descriptive research for this study. For this project I have
collected primary as well as secondary data. For primary I made a
questionnaire and for secondary, I have taken their past record to
check out whether the employees are satisfied or not through their
past record and choose the different grade of people for filling
the questionnaire.Result which came out from the study is that most
of the employees performed well and they are satisfied too with the
existing performance. They need only some of the improvement
regarding the performance. As we know that the method existing in
the organization is far better and only improvement is needed.
PANTALOONS RETAIL INDIA LIMITEDCOMPANY PROFILEPANTALOONS Retail
(India) Limited, is Indias leading retailer that operates multiple
retail formats in both the value and lifestyle segment of the
Indian consumer market. Headquartered in Mumbai (Bombay), the
company operates over 16 million square feet of retail space, has
over 1000 stores across 73 cities in India and employs over 30,000
people.The companys leading formats include Pantaloons, a chain of
fashion outlets,Big Bazaar, a uniquely Indian hypermarket chain,
Food Bazaar, a supermarket chain, blends the look, touch and feel
of Indian bazaars with aspects of modern retail like choice,
convenience and quality and Central, a chain of seamless
destination malls. Some of its other formats include Brand Factory,
Blue Sky, ALL, Top 10 and Star and Sitara. The company also
operates an online portal, futurebazaar.comFuture Value Retail
Limited is a wholly owned subsidiary of Pantaloon Retail (India)
Limited. This entity has been created keeping in mind the growth
and the current size of the companys value retail business, led by
its format divisions, Big Bazaar and Food Bazaar. The company
operates 150 Big Bazaar stores, 170 Food Bazaar stores, among other
formats, in over 70 cities across the country, covering an
operational retail space of over 6 million square feet. As a
focused entity driving the growth of the group's value retail
business, Future Value Retail Limited will continue to deliver more
value to its customers, supply partners, stakeholders and
communities across the country and shape the growth of modern
retail in India.A subsidiary company, Home Solutions Retail (India)
Limited, operates Home Town, a large-format home solutions store,
Collection selling home furniture products and eZone focused on
catering to the consumer electronics segment. Pantaloon Retail is
the flagship company of Future Group, a business group catering to
the entire Indian consumption space.
FUTURE GROUPFuture Group, led by its founder and Group CEO, Mr.
Kishore Biyani, is one of Indias leading business houses with
multiple businesses spanning across the consumption space. While
retail forms the core business activity of Future Group, group
subsidiaries are present in consumer finance, capital, insurance,
leisure and entertainment, brand development, retail real estate
development, retail media and logistics. Led by its flagship
enterprise, Pantaloon Retail, the group operates over 16 million
square feet of retail space in 73 cities and towns and 65 rural
locations across India. Headquartered in Mumbai (Bombay), Pantaloon
Retail employs around 30,000 people and is listed on the Indian
stock exchanges. The company follows a multi-format retail strategy
that captures almost the entire consumption basket of Indian
customers. In the lifestyle segment, the group operates Pantaloons,
a fashion retail chain and Central, a chain of seamless malls. In
the value segment, its marquee brand, Big Bazaar is a hypermarket
format that combines the look, touch and feel of Indian bazaars
with the choice and convenience of modern retail. The groups
specialty retail formats include supermarket chain - Food Bazaar,
sportswear retailer - Planet Sports, electronics retailer - eZone,
home improvement chain -Home Town and rural retail chain - Aadhaar,
among others. It also operates popular shopping portal -
www.futurebazaar.com.Future Group believes in developing strong
insights on Indian consumers and building businesses based on
Indian ideas, as espoused in the groups core value of Indianness.
The groups corporate credo is, Rewrite rules, Retain values.
Pantaloon Retail IndiaPantaloon Retail (India) Limited, is a
large Indian retailer, which is part of the Future Group, and
operates multiple retail formats in both the value and lifestyle
segment of the Indian consumer market. Headquartered in Mumbai, the
company has over 1,000 stores across 71 cities in India and employs
over 30,000 people, and as of 2010, it was the country's largest
listed retailer by market capitalization and revenue With effect
from 1 January 2010 the company separated its discount store
business, which includes the Big Bazaar hypermarket and the Food
Bazaar supermarket businesses, into Future Value Retail Ltd., its
wholly owned subsidiary, so that the company may be listed
independently. The companys brands include Pantaloons, a chain of
fashion outlets, Big Bazaar, a hypermarket chain and Food Bazaar, a
supermarket chain. Some of the company's other regional brands
include, Depot, Shoe Factory, Brand Factory, Blue Sky, aLL, Top 10
and Star and Sitara.A subsidiary company, Home Solutions Retail
(India) Limited, operates Home Town, a large-format home solutions
store, Collection i, selling home furniture products and E-Zone
focussed on catering to the consumer electronics segment.GROUP
WEBSITES Pantaloon Retail (www.pantaloonretail.in) FutureBazaar
(www.futurebazaar.com) Future Brands (www.futurebrands.co.in)
Future Group (www.futuregroup.in) Future Capital Holdings
(www.fch.in) Future Generali (www.futuregenerali.in) Future
Learning & Development (www.fldl.in) Future Supply Chain
Solutions (www.futuresupplychains.com) Future Media
(www.futuremedia.in)
CORPORATE STATEMENTS"Future" - the word which signifies
optimism, growth, achievement, strength, beauty, rewards and
perfection. Future encourages us to explore areas yet unexplored,
write rules yet unwritten; create new opportunities and new
successes. To strive for a glorious future brings to us our
strength, our ability to learn, unlearn and re-learn, our ability
to evolve. We, Future Group, will not wait for the Future to unfold
itself but create future scenarios in the consumer space and
facilitate consumption because consumption is development. Thereby,
we will effect socio-economic development for our customers,
employees, shareholders, associates and partners. Our customers
will not just get what they need, but also get them where, how and
when they need. We will not just post satisfactory results, we will
write success stories. We will not just operate efficiently in the
Indian economy, we will evolve it. We will not just spot trends, we
will set trends by marrying our understanding of the Indian
consumer to their needs of tomorrow.It is this understanding that
has helped us succeed. And it is this that will help us succeed in
the Future. We shall keep relearning. And in this process, do just
one thing...Rewrite Rules, Retain Values.
STRATERGYA new normal is being defined in the Indian consumer
market every day. With far-reaching socio-economic changes that
India has undergone in the last decade, the drivers in urban and
rural India are maturing fast. With a growth strategy tempered with
localization and an inclusive business model, Future Group is the
only pure play local retailer poised to lead Indias consumption
story with sustainable value creation.Future groups multi-format
retail strategy captures almost the entire consumption basket of
Indian customers. As modern retail drives new demand, efficiency
and consumption in new categories, our strategy is based on our
deep understanding of Indian consumers. Future group believes that
modern Indian retail rests on the strength of two pillars scale and
efficiencies. As front-runners in both areas, future group firmly
believe our core responsibility lies in providing protection to
customers from the overall rate of inflation. While the scale and
size of its operations helps us improve efficiencies, it also
ensures it delivers greater value to its customers. Futures retail
thrust is focused on four principal verticals of Food, Fashion,
General Merchandise and Home. These four categories together
account for nearly 65% of the consumption in the country and
represent mass consumer aspirations. Acknowledging this, we are
creating retail pure play through divestment and demerger of
non-retail businesses to concentrate our efforts on these
verticals. Indias retail boom is being driven by resurgence in the
economy. Modern retail still has around 6% share of the total
retail spend in the country, that is estimated at around US $ 400
billion. Thus, the potential for modern retail growth in India is
huge. Currently, leading retailers in mature markets occupy the top
three slots by turnover, employment and value creation. As the
Indian economy matures, it is upon us to make the same happen in
our country
GROUP VISIONFuture Group shall deliver Everything, Everywhere,
Every time for Every Indian Consumer in the most profitable
manner.GROUP MISSIONWe share the vision and belief that our
customers and stakeholders shall be served only by creating and
executing future scenarios in the consumption space leading to
economic development. We will be the trendsetters in evolving
delivery formats, creating retail realty, making consumption
affordable for all customer segments - for classes and for masses.
We shall infuse Indian brands with confidence and renewed ambition.
We shall be efficient, cost- conscious and committed to quality in
whatever we do. We shall ensure that our positive attitude,
sincerity, humility and united determination shall be the driving
force to make us successful.CORE VALUES Indianness: Confidence in
ourselves. Leadership: To be a leader, both in thought and
business. Respect and Humility: To respect every individual and be
humble in our conduct. Introspection: Leading to purposeful
thinking. Openness: To be open and receptive to new ideas,
knowledge and information. Valuing and Nurturing Relationships: To
build long term relationships. Simplicity and Positivity:
Simplicity & positivity in our thought, business & action.
Adaptability: To be flexible and adaptable, to meet challenges.
Flow: To respect and understand the universal laws of nature.
BOARD OF DIRECTORSKishor Biyani:- Founder and Group CEO, Future
Group Kishore Biyani is the Managing Director of Pantaloon Retail
(India) Limited and the Group Chief Executive Officer of Future
Group. He has led Pantaloon Retails emergence as the Indias leading
retailer operating multiple retail formats that now cater to almost
the consumption basket of a large section of Indian consumers.
Kishore Biyani led the companys foray into organized retail with
the opening up of the Pantaloons family store in 1997. This was
followed in 2001 with the launch of Big Bazaar, a uniquely Indian
hypermarket format that democratized shopping in India. It blends
the look, touch and feel of Indian bazaars with aspects of modern
retail like choice, convenience and quality. This was followed by a
number of other formats including Food Bazaar, Central and Home
Town. Executive Committee Board Anshuman Singh:- Managing Director
& CEO, Future Supply Chain Solutions Ltd B. Anand:- Director
Finance, Future Group Damodar Mall:- Director, Integrated Food
Strategy, Future Group Kailash Bhatia:- Director & CEO,
Pantaloon Retai K. K. Rathi:- CEO, Future Ventures India Ltd.
Sanjay Jog:- Chief People Officer, Future Group Santosh Desai:-
Managing Director & CEO, Future Brands India Ltd Sumit
Dabriwala:- Managing Director, Agre Developers Ltd Ushir Bhatt:-
Group CIO, CEO, Future Knowledge Services Vibha Rishi:- Group
Strategy and Consumer Director, Future Group V. Vaidyanathan:- Vice
Chairman and MD of Future Capital Holdings Ltd. .
MILESTONES1987Company incorporated as Manz Wear Private Limited.
Launch of Pantaloons trouser, Indias first formal trouser
brand.
1991Launch of BARE, the Indian jeans brand.
1992Initial public offer (IPO) was made in the month of May.
1994The Pantaloon Shoppe exclusive menswear store in franchisee
format launched across the nation..
1995John Miller formal shirt brand launched.
1997Pantaloons Indias family store launched in Kolkata.
2001Big Bazaar, Is se sasta aur accha kahi nahin - Indias first
hypermarket chain launched.
2002Food Bazaar, the supermarket chain is launched.
2004Central Shop, Eat, Celebrate In The Heart Of Our City -
Indias first seamless mall is launched in Bangalore.
2005Fashion Station - the popular fashion chain is launched ALL
a little larger - exclusive stores for plus-size individuals is
launched
2006Future Capital Holdings, the companys financial is formed to
manage over $1.5 billion in real estate, private equity and retail
infrastructure funds. Plans forays into retailing of consumer
finance products.Future Group enters into joint venture agreements
to launch insurance products with Italian insurance major,
Generali.
2007Future Group crosses $1 billion turnover mark.Specialised
companies in retail media, logistics, IPR and brand development and
retail-led technology services become operational.Pantaloon Retail
wins the International Retailer of the Year at US-based National
Retail Federation convention in New York and Emerging Retailer of
the Year award at the World Retail Congress held in Barcelona..
2003Future Capital Holdings becomes the second group company to
make a successful Initial Public Offering in the Indian capital
markets..Total operational retail space crosses 10 million square
feet mark.Future Group acquires rural retail chain, Aadhar present
in 65 rural locations
LINE OF BUSINESS
The company is present across several lines of business which
have various formats (stores) Plywood, The Dollar Store (JV).
Fashion - Pantaloons, Central,mall, Brand Factory, Blue Sky, Top
10, Fashion Station, Big Bazaar, Lee Cooper (JV),IPM MEERUT(JV)
General Merchandise - Big Bazaar, Shoe Factory, Navras, Electronics
Bazaar, Furniture Bazaar, KB'S FAIR PRICE Electronics - eZone,
Electronic Bazzaar, STAPLES (JV) Home Improvement - Home Town
Furniture - Collection i, Furniture Bazaar, Home Bazaar E-tailing
(Online Shopping) - www.futurebazaar.com Books & Music - Depot
Leisure & Entertainment - Bowling Co., F123, TGIF (Thank God
it's Friday!) Wellness - Star & Sitara, Tulsi Telecom & IT
- Gen M, M Bazaar, M-Port, ConvergeM, Future Axiom, T 24 (in
alliance with TATA Teleservices) Consumer Durables - Koryo, Sensei,
IPAQ Service - E Care, H Care , Design & Service Malls -
Central (Bangalore, Hyderabad, Pune, Mumbai, Vadodara, Gurgaon,
Indore, Ahmedabad) Investment & Savings - Insurance: ULIP,
Pension, Endowment etc.
AFFILIATE COMPANIESHOME SOLUTIONS RETAIL INDIA LIMITEDFUTURE
BRANDS LIMITEDFUTURE MEDIA(INDIA) LIMITEDFUTURE SUPPLY CHAINS
SOLUTIONS LIMITEDFUTURE AXIOM TELECOM LIMITEDPANTALOONS FOOD
PRODUCT (INDIA) LIMITEDFUTURE KNOWLEDGE SERVICES LIMITEDFUTURE
CAPITAL HOLDING LIMITEDFUTURE GENERALI INDIA INSURANCE COMPANY
LIMITEDFUTURE GENERALI INDIA LIFE INSURANCE COMPANY LIMITEDFUTURE
BAZAAR INDIA LIMITEDSAMPLES FUTURE OFFICE PRODUCTS PRIVATE
LIMITED
AWARDS AND RECOGNITIONS2009CNBC Awaaz Consumer Awards 2009 Most
Preferred Multi Product Chain - Big Bazaar Most Preferred Multi
Brand Food & Beverage Chain - Big Bazaar Images Fashion Forum
2009 Most Admired Fashion Group Of The Year - Future Group Most
Admired Private Label - Pantaloons, the lifestyle format Critics
Choice For Pioneering Effort In Retail Concept Creation - Central
Coca-Cola Golden Spoon Awards 2009 Most Admired Food & Grocery
Retailer Of The Year. Most Admired Food Court. Most Admired Food
Professional.
2008Indian Retail Forum Awards 2008 Most Admired Retail Company
of the year - Future Group Retail Face of the Year - Kishore Biyani
Best Retailer Of The Year ( Hypermarket) - Big Bazaar The INDIASTAR
Award 2008 Food Bazaar: Best Packaging Innovation Retail Asia
Pacific 500 Top Awards 2008 Gold Winner -Top Retailer 2008 Asia
Pacific Coca-Cola Golden Spoon Awards 2008 Most Admired Food &
Grocery Retail Visionary of the Year: Kishore Biyani Most Admired
Food & Grocery Retailer of the Year Supermarkets: Food Bazaar
Most Admired Food & Grocery Retailer of the Year -
Hypermarkets: Big Bazaar Most Admired Retailer of the Year -
Dynamic Growth in Network Expansion across Food, Beverages &
Grocery: Future Group Most Admired Food & Grocery Retailer of
the Year - Consumer's Choice: Big Bazaar The Reid & Taylor
Awards For Retail Excellence 2008 Retail Leadership Award: Kishore
Biyani Retail Best Employer of the Year: Future Group Retailer of
The Year: Home Products and Office Improvements: HomeTown
2007Images Retail Awards Most Admired Retail Face of the Year:
Kishore BiyaniMost admired retailer of the year: Large format,
multi product store: Big BazaarMost admired retailer of the year:
Food and Grocery: Food BazaarMost admired retailer of the year:
Home & office improvement: HomeTownMost admired Retail Company
of the year: Pantaloon Retail
(India)Ltd.NationalRetailFederationAwards International Retailer
for the Year 2007 Pantaloon Retail (India)
LtdWorldRetailCongressAwardsEmerging Market Retailer of the Year
2007 Pantaloon Retail (India) LtdHewittBestEmployers2007 Best
Employers in India (Rank 14th) Pantaloon Retail (India)
LtdPCWorldIndianWebsiteAwards Best Indian Website In The Shopping
Category Futurebazaar.comReadersDigestTrustedBrandsPlatinumAwards
Trusted Brands Platinum Award (Supermarket Category) Big Bazaar
.
2006RetailAsiaPacificTop500Awards Asia Pacific Best of the Best
Retailers Pantaloon Retail (India) LtdBest Retailer in India
Pantaloon Retail (India) LtdAsiamoneyAwardsBest Managed Company in
India (Mid-cap) Pantaloon retail (India) Ltd. Ernst & Young
Entrepreneur of the Year AwardErnst & Young Entrepreneur of the
Year (Services) Kishore Biyani CNBC Indian Business Leaders
AwardsThe First Generation Entrepreneur of the Year Kishore
BiyaniLakshmipat Singhania IIM Lucknow National Leadership
AwardsYoung Business Leader Kishore Biyani Images Retail Awards
Best Value Retail Store Big Bazaar Best Retail Destination Big
Bazaar Best Food & Grocery Store Food Bazaar Retail Face of the
Year Kishore Biyani Readers Digest Awards Platinum Trusted Brand
Award - Big BazaarCNBC Awaaz Consumer AwardsMost Preferred Large
Food & Grocery Supermarket Big Bazaar.Reid & Taylor Awards
for Retail Excellence Retail Entrepreneur of the Year Kishore
Biyani
2005Readers Digest and Awaaz Consumer Award Big Bazaar - Most
preferred, large, Food and Grocery store Readers Digest Platinum
Trusted Brand Award Big Bazaar - Earning a trusted Place in the
everyday lives of consumers Images Retail Awards 2005 PRIL Most
admired retailer of the year Food Bazaar - Retailer of the year
(food and grocery) Big Bazaar Retailer of the year (value
retailing) Central Retail launch of the year Business Today
selected PRIL among: Top 20 companies in India to watch in 2005
Indias most investor-friendly companies in the top 75 Indias
biggest wealth creators in the top 100
2004Images Retail Awards 2004 PRIL Most admired retailer of the
year Food Bazaar - Retailer of the year (food and grocery) Big
Bazaar Retailer of the year (value retailing) Central Retail launch
of the year Reid & Taylor and DLF AwardsPRIL Retailer of the
year
2003Indian Express Award PRIL- Marketing excellence and
excellence in brand building
The guiding principles of work culture at future group are:
Simplicity and Frugality that leads to Design-led Thinking and
Disproportionate Growth.The objective has been to create a work
environment that helps achieve everyones true potential and
collectively take our organization to next level. This can happen
when we embrace a culture that supports such an environment. Some
of the key points of this culture are:
a) Develop a way of working that strengthens Team Work, within
and across teams. There is a disproportionate amount of area set
aside for team work across the floors. Each of the floors has a
number of meeting rooms with conferencing and presentation
facilities. In addition there are a large number of lounges, common
work areas, discussion rooms and discussion tables at every nook
and corner of the office. Please utilize these to the maximum.
b) We believe we are best served when we Serve Ourselves. The
office and work environment is designed in a manner that we have
minimal dependence on housekeeping and external staff. So, we get
to serve our own tea and coffee, serve ourselves our own breakfast
and snacks and keep our work environment clean, just as we want it.
Self-service is the way to go.
c)Work is best enjoyed when it is Clear of Clutter both in mind
and in physical environment. We will ensure that we keep our desks,
common areas, alleys, meeting rooms, toilets and pantry neat and
clean. All areas are owned by all of us and are our common
responsibilities.
d)We hope that this office is never short of food for mind, body
and soul. In a few weeks, as the entire building gets functional,
we will have our own gym, garden terrace, salon, medical room,
auditorium and many other facilities. There is ample scope for
interactions, discussions and secluded areas to think, innovate and
create new thoughts and ideas that keep your mind and soul going.
And our pantry is always there for food for the body.Keeping these
in mind, below are some basic rules that all of us have to follow.
Please extend cooperation to the administrative team and the floor
leaders in creating the best working environment for us, as we
prepare to get the entire building functional.
SWOT ANALYSIS
STRENGTH: High brand equity. Big infra Variety of merchandise
under single roof WEAKNESS: At times fails in store opening target.
Hiring of employees. OPPORTUNITY: Growing retail market. Evolving
customer preferences. THREATS: Competitors-global big players.
Unorganized retail market
INTRODUCTION
People are our greatest asset is a mantra that companies have
been chanting foryears. But only a few companies have started
putting Human Resources Management (HRM) systems in place that
support this philosophy. There are a number of challenges in the
Indian industry which require the serious attention of HR managers
to find the right candidate and build a conducive work environment
which will be beneficial for the employees, as well as the
organization. The industry is already under stress on account of
persistent problems such as attrition, confidentiality, and
loyalty. Other problems are managing people, motivation to adopt
new technology changes, recruitment and training, performance
management, development, and compensation management. With these
challenges, it is timely for organizations to rethink the ways they
manage their people. Managing HR in the knowledge based industry is
a significant challenge for HR managers as it involves a multi task
responsibility. In the present scenario, HR managers perform a
variety of responsibilities.Earlier their role was confined to
administrative functions like managing manpowerrequirements and
maintaining rolls for the organization. Now it is more strategic as
per the demands of the industry.
EMPLOYEE SATISFACTION
What does the term Satisfaction imply to an employee? It implies
nothing else than the feeling of either being contended or
non-contended on using a product.Employee Satisfaction is a
prerequisite for the customer satisfactionEmployee satisfaction has
been defined as a function of perceived performance and
expectations. It is a persons feeling of pleasure or disappointment
resulting from comparing a products outcome to his/her
expectations. If the performance (Company Services) falls short of
expectations, the employee is dissatisfied and if it matches the
expectations, the employee is satisfied. A high satisfaction
implies more purchase/use of the product or service. The process is
however, more complicated then it appears. It is more important for
any organization to offer high satisfaction, as it reflects high
loyalty and it will not lead to switching over once a better offer
comes in.Enhanced employee satisfaction leads to higher level of
employee retention.A stable and committed workforce ensures
successful knowledge transfer, sharing, and creation --- a key to
continuous improvement, innovation, and knowledge-based total
customer satisfaction. When companies are committed with providing
high quality products and services; when companies set high work
standards for their employees; and when employees are empowered
through training and development, provided with knowledge and
information, permitted to make mistakes without punishment, and
trusted; they will experience an increase in their level of
satisfaction at work.This level of satisfaction can be enhanced
further if teamwork and visionary leadership are introduced.
Continuous improvement comes from the efforts of the empowered
employees motivated by visionary leadership. This is supported by
the findings that empowerment and visionary leadership both have
significant correlation with employee satisfaction. Teamwork is
also supported by the findings. In addition, the study found
significant correlation between employee satisfaction and employees
intention to leave. The success of a corporation depends very much
on customer satisfaction. A high level of customer service leads to
customer retention, thus offering growth and profit opportunities
to the organization. There is a strong relationship between
customer satisfaction and employee satisfaction. Satisfied
employees are more likely to stay with company and become committed
and have more likely to be motivated to provide high level of
customer service, by doing so will also further enhance the
employees satisfaction through feeling of achievement. Enhanced
employee satisfaction leads to improved employee retention; and
employee stability ensures the successful implementation of
continuous improvement and customer satisfaction. Customer
satisfaction will no doubt lead to corporate success and greater
job security. These will further enhance employee satisfaction.
Therefore, employee satisfaction is a prerequisite for customer
satisfaction.Employee satisfaction is closely related to Job
satisfaction.
JOB SATISFACTIONJob satisfaction has been defined as a
pleasurable emotional state resulting from the appraisal of ones
job; an affective reaction to ones job; and an attitude towards
ones job. Job satisfaction describes how content an individual is
with his or her job. It is arelatively recent term since in
previous centuries the jobs available to a particular person were
often predetermined by the occupation of that persons parent. There
are a variety of factors that can influence a persons level of job
satisfaction. Some of these factors include the level of pay and
benefits, the perceived fairness o the promotion system within a
company, the quality of the working conditions, leadership and
social relationships, the job itself (the variety of tasks
involved, the interest and challenge the job generates, and the
clarity of the job description/requirements). The happier people
are within their job, the more satisfied they are said to be.
Jobsatisfaction is not the same as motivation, although it is
clearly linked. Job design aims to enhance job satisfaction and
performance methods include job rotation, job enlargement and job
enrichment. Other influences on satisfaction include the management
style and culture, employee involvement, empowerment and autonomous
workgroups. Job satisfaction is a very important attribute which is
frequently measured by organizations. The most common way of
measurement is the use of rating scales where employees report
their reactions to their jobs. Questions relate to relate of pay,
work responsibilities, variety of tasks, promotional opportunities
the work itself and co-workers. Some questioners ask yes or no
questions while others ask to rate satisfaction on 1 5 scale 9where
1represents not all satisfied and 5 represents extremely
satisfied).
RELATED DEFINITIONS.
Affect Theory Edwin A. Lockes Range of Affect Theory (1976) is
arguably the most famous jobsatisfaction model. The main premise of
this theory is that satisfaction is determined by adiscrepancy
between what one wants in a job and what one has in a job. Further,
the theory states that how much one values a given facet of work
(i.e. the degree of autonomy in a position) moderates how
satisfied/dissatisfied one becomes when expectations are/are not
met. When a person values a particular facet of a job, his
satisfaction is more greatly impacted both positively (when
expectations are met) and negatively (when expectations arenot
met), compared to one who does not value that facet. To illustrate,
if Employee values autonomy in the workplace and Employee B is
indifferent about autonomy, then Employee A would be more satisfied
in a position that offers a high degree of autonomy compared to
Employee B. this theory also states that too much of a particular
facet will produces stronger feelings of dissatisfaction the more a
worker values that facet.Two Factor Theory (Motivation Hygiene
Theory) Fredrick Herzbergs Two factor theory (also known as
Motivator Hygiene Theory)attempts to explain satisfaction and
motivation in the workplace. This theory states thatsatisfaction
and dissatisfaction are driven by different factors motivation and
hygiene factors, respectively. Motivating factors are those aspects
of the job that make people want to perform, and provide people
with satisfaction. These motivating factors are considered to be
intrinsic to the job, or the work carried out. Motivating factors
include aspects of the working environment such as pay, company
policies, supervisory practices, and other working conditions.
While Herzbergs model has stimulated much research, researchers
have been unable to reliably empirically prove the model, with
Hackman & Oldham suggesting that Herzbergs original formulation
of the model may have been a methodological artifact.Furthermore,
the theory does not consider individual differences, conversely
predicting allemployees will react in an identical manner to
changes in motivating/hygiene factors.Finally, the model has been
criticized in that it does not specify how
motivating/hygienefactors are to be measured.
Job Characteristics ModelHackman & Oldham proposed the Job
Characteristics Model, which is widely usedas a framework to study
how particular job characteristics impact on job outcomes,
including job satisfaction. The model states that there are five
core job characteristics (skill variety, task identity, task
significance, autonomy, and feedback) which impact three critical
psychological states (experienced meaningfulness, experienced
responsibility for outcomes, and knowledge of the actual results),
in turn influencing work outcomes (job satisfaction, absenteeism,
work motivation, etc.). The five core job characteristics can be
combined to form a motivating potential score (MPS) for a job,
which can be used as an index of how likely a job is to affect an
employee's attitudes and behaviors----. A Meta analysis of studies
that assess the framework of the model provides some support for
the validity of the JCM.
HUMAN RESOURCES MANAGEMENT ISSUESManaging PeopleIn view of the
industry dynamics, in the current times, there is a greater demand
for knowledge workers. Often talented professionals enjoy high
bargaining power due to their knowledge and skills in hand. These
factors have resulted in the clear shift in approach to
individualized career management from organization career
commitment.Motivating the WorkforceAs the competition is growing
rapidly in the global market, a technological edge supported by a
talent pool has become a crucial factor for survival in the market.
Naturally, as a result every organization gives top priority to
technology advancement programs. HR managers are now performing the
role of motivators for their knowledge workers to adopt new
changes.Competency DevelopmentHuman capital is the real asset for
any organization, and this makes the HR role important in
recruiting, managing, and retaining the best. The HR department has
a clear role in this process and determines the success tempo of
any organization. An urgent priority for most of the organizations
is to have an innovative and competent HR pool; sound in HR
management practices with strong business knowledge.Recruitment and
TrainingRecruitment has become a major function from an imperative
sub system in HR, particularly in the industry. HR managers play a
vital role in creating assets for the organization in the form of
quality manpower. Attracting new talent also is a top priority for
software companies, but less so for smaller companies. Another
challenge for HR managers is to put systems in place to make the
people a perfect fit for the job. Skill redundancy is fast in the
industry. To overcome this problem, organizations give the utmost
priority to training and skill enhancement programs on a continuous
basis. The Trust FactorLow levels of trust inhibit tacit knowledge
sharing in the knowledge based industry. It is essential that Our
Company takes more initiatives to improve the security levels of
the employees.Work life Balance FactorAnother dimension to the
challenges faced by our company is the growing pace of talent
acquisition. This aspect creates with it the challenge of a
smoother assimilation and the cultural binding of the new comers
into the organization fold. The pressure of delivering the best of
quality services in a reduced time frame calls for ensuring that
employees maintain a work life balance.Attrition/Retention of the
Talent PoolOne of the toughest challenges for the HR managers in
the industry is to deal with the prevalent high attrition levels.
Though there is an adequate supply of qualified staff at entry
level, there are huge gaps in the middle and senior level
management in the industry. Further, the salary growth plan for
each employee is not well defined. This situation has resulted in
increased levels of poaching and attrition between organizations.
The industry average attrition rate is 3035 per cent and could
range up to 60 per cent.Bridging the Demand Supply GapHR managers
have to bridge the gap between the demand and supply of
professionals. They have to maintain consistency in performance and
have to keep the motivation levels of employees high, despite the
monotonous nature of work. The same also leads to recurring
training costs. Inconsistent performance directly affects revenues.
Dwindling motivation levels lead to a loss of interest in the job
and a higher number of errors.Role of Employee Satisfaction &
Morale Boosting.
Figure: The role of job satisfaction and morale in generative
studies
SURVEY OBJECTIVEThe survey can help employers to measure and
understand their employees attitude, opinions, motivation, and
general satisfaction with their work environment. The survey will
provide valuable data that can ultimately save company money. It
will also help to identify specific actions to improve the
organizations capacity to pursue its strategic goals. The data from
the survey will help paint a portrait of employee attitudes and
opinions. The survey is also useful for the employers to isolate
the root causes of persistent problems, such as low productivity or
high expenses. The purpose of the survey was to: Measure employee
perceptions of the work environment To discover the various
expectations that determines the satisfaction level of employee
Identify job satisfaction levels of employees with respect to the
Identify areas of strength and opportunities for Improvement in the
Company. The research is based on the survey questions. The survey
gathered information about employee satisfaction in eight main
areas: Job Satisfaction Career advancement Information flow
Recognition/Reward/Advancement Training/Mentoring Super
visor/Teamwork/Colleagues Workload/Resources
EMPLOYEE SATISFACTION MEASUREMENT
There are many methods for measuring employee satisfaction. By
far, the most common method for collecting data regarding job
satisfaction is the Likert scale (named after Rensis Likert). Other
less common methods of for gauging job satisfaction include: Yes/No
questions, True/False questions, point systems, checklist, forced
choice answers. The Job Descriptive Index (JDI), created by
smith,Kendall, & Hulin (1969), job satisfaction that has been
widely used. It measures ones satisfaction in five facets: pay,
promotions and opportunities, coworkers, supervision, and the work
itself.
Tools for tracking and measuring customer satisfaction:
Complaint and Suggestion System: Employee can freely deliver
complaints and suggestions through facilities like suggestion box,
personal meetings with seniors etc. Lost Employee Analysis: The
exit interviews are conducted or employee loss rate is computed.
Employee Satisfaction Survey: Periodic surveys by use of
questionnaire or telephone calls to random sample of recent buyer
help to find out customer satisfaction and relate to repurchase
intention and word of mouth score.
SCALE CONSTRUCTIONOn the basis of attributes which have been
identified, a questionnaire is prepared which is analyzed for
different parameters separately. To each question, there are
possible answers out of which one is to be ticked. In
questionnaire, the respondent has to give a response in terms
weather he agree, disagree or neutral to the questions. The
response for each question is agree, disagree or neutral.
Methodology The methods used in this research were: Factor
analysis method Percentage method Bar graph Discrimenent
analysis
Data Collection and AnalysisExhaustive list of the entire
employee is obtained. A sample size of 30 is chosen to be
representative of the population (nearly 90%). Samples drawn are
used to collect data pertaining to employees satisfaction as well
as importance towards the 32 attributes listed.The results are then
categorized on the basis of: Job Satisfaction Career advancement
Information flow Recognition/Reward/Advancement Training/Mentoring
Super visor/Teamwork/Colleagues Workload/ResourcesWhat kindles
dissatisfaction? Earnings or benefits Job quality or workplace
support Lack of appreciation Stagnation or no growth Lack of
freedom
SAMPLE DESIGNAmong that I have collected my data through
QUESTIONNAIRE because it is a popular means of collecting data.
Besides this there are many advantages of preparing questionnaire.
The study covers employees working as Fashion assistants. These
employees have been asked to express their view & suggestion
with the organization by filing up to questionnaires.Sample size: -
I have taken 4-5 employees from different department of different
grades of employee. My sample size is 30.DATA COLLECTIONWhile
deciding about the method of data collection to be used for the
study, the research should keep in mind two types of data viz.:-
(a) primary data, (b) secondary data.Primary Data:- The primary
data are those data which are collected fresh and for the first
time, and thus happen to be original in character.
Secondary Data:- The secondary data , on the other hand , are
those which has already been collected by someone else and which
has already been passed to the statistical process.There are many
methods of collecting primary data and the main method includes:-
Questionnaire Interviews Focus group interviews Observation Case
studies Diaries Critical incidents Portfolios
RESEARCH METHODOLOGY Research methodology is a purely and simply
the framework or a plans for the study that guides the collection
and analysis of data. Research is the scientific way to solve the
problems and its increasingly used to improve market potential.
This involves exploring the possible methods, one by one, and
arriving at the best solution, considering the resources at the
disposal of research. RESEARCH STEPS: Study about organization
Setting of objectives Instrument- design (questionnaire) Main study
Tabulated Analysis and interpretation Findings Conclusion
Suggestion and recommendation. RESEARCH DESIGN:A research design is
the specification of methods and procedure for acquiring the
information needed. It is the over all operation patterns or
framework of the project that stipulates what information is to be
collected from which source by what procedure. It is also refers to
the blue print of the research process. Key issue Options Research
design Descriptive Data Primary data Research Survey method
Research instrument Questionnaire, Experts Interview Research
design consists of: A clear statement of the research problem.
Procedure & techniques to be used for gathering information.
The population to be studied. Method to be used in processing &
analyzing the data There are four types in research design:
Exploratory of formative study Diagnostic study Experimental study
Descriptive study. DESCRIPTIVE STUDY: A study, which wants to
portray the characteristic of a group of individual or situation,
is known as descriptive study. Universe of study the first step in
developing any sample design is to clearly define the set of
objects technically called the universe to be studied. In this case
the universe includes all employees of BAJAJ HINDUSTHAN LTD.
RESEARCH INSTRUMENT: Questionnaire refers to a device for
securing answer to a formally arranged list of Questions by using a
term, which the respondents fill in him. Questionnaire design:
Multiple questions: A multiple choice question refers to one. Which
provides several set alternatives for its answer? These types of
questions are asked are asks on demographic section by the
Researcher. STATISTICAL TOOLS: The collected data were classified
and tabulated and analyzed with some of the statistical tools
listed. Percentage analysis and bar graph was used to explain the
tabulation clear. Factor analysis: Factor analysis is a good way of
resolving the confusion and identifying latent or underlying
factors from an array of seemingly important variables. It is a set
of techniques which by analyzing correlation between variables
reduces their number into fewer factors which explain much of the
original data more economically. Percentage method refers to a
special kind of ratio. Percentages are used in making comparison
between two (or) more series of data. Percentages are used to
describe relationship. Percentage can also be used to compare the
relative terms, the distribution of two or more series of data.
Since the percentage reduce everything to a common base and there
by allow meaning comparisons to be made. The data collected through
questionnaire response method was analyzed in the Following manner:
Raw data was coded and tabulated. The tabulated data was converted
into percentage, to show the percentage of opinion among
respondents. Percentage analysis thus involves the simple
interpretation/analysis of the various items taken up in the
questionnaire on a percentage basis from the data collected.
TOTAL STRENGTH OF THE EMPLOYEES IN THE COMPANY
DepartmentMALEFEMALETOTAL
MENS14115
ETHINIC325
WESTERN729
CASH516
KIDS314
INDUS707
WELLNESS61218
TOTAL451964
TOTAL STRENGTH 65SAMPLE SIZE39SAMPLE INTERVAL(65/39) = 1.66
Job satisfactionagreeNeutraldisgree
The job I am into is according to my potential and
skills.2262
The amount of work expected of me is reasonable.6177
Job-related training opportunities are provided here.2262
The stress level for the job is reasonable.13107
There exits a good Teamwork within my department.26
4
0
I get recognition for the additional contributions I make.
22
6
2
Career AdvancementDisagreeNeutralAgree
Organization offers good opportunities for personal
development
2253
Organization offers good opportunities/ladders for professional
advancement
2352
Information flowDisagreeNeutralAgree
Staff meetings are a source of useful information.2280
There is good communication and teamwork within department.
2640
Reporting ManagerDisagreeNeutralAgree
My reporting manger promotes an atmosphere of teamwork.2541
It is clear to me what me reporting manager expects of me
regarding me job performance.2361
My reporting manager evaluates my work performance on a regular
basis.2262
My reporting manager provides me with actionable suggestions on
areas of improvement.2244
When I have questions or concerns, my reporting manager is able
to address them.1596
My reporting manager makes an effort to talk with me about my
career goals within the company
2234
GrievancesDisagreeNeutralAgree
My work group has regular discussions to review my performance,
discuss common problems, and plan ways to improve them.12135
My internal issues at pril addressed fairly.14124
Benefit package
DisagreeNeutralAgree
The leave that I receive is satisfactory1497
The medical benefit plan (ESIC) covers all my necessities
12410
FINDINGS After analysing all the graphs I found that many of the
employees are satisfied and agree with all the statements in the
questionnaire. From the study in found that 80% of the staff says
that they prefer there exists good team work in the company. It is
also found that the takes an account of the additional
contributions of the staff and them recognitions accordingly.
Almost all the employees agree that there are opportunities for
personal as well as professional development. About 90% employees
agree that they feel free to give their valuable to the company.
85% of the employees agree that their reporting manager takes care
of its department. Only the problem is with the benefit programs
(medical benefit) provided by the companies to the employees this
is only because as the dispensaries are very far so at times to
avoid the travelling problems they avoid availing the benefit.
CONCLUSIONThe study conducted at PRIL, Ghaziabad. Deals with
analyzing the employees satisfaction level in the
organization.Report reveals that the Pantaloons retail India
limited is very comfortable organization to work with, people, in
the organization are supportive and co-operative.Pantaloons retail
India limited has a well organized human resource system for its
employees, where they take proper care of the employees and
provides scope for employees on future growth, career planning,
training and development. PRIL Considers EMPLOYE as its backbone so
it provides full care and support to its employees. As from the
survey it is concluded that around 91% of the employee are
satisfied and wants to remain with the company for longer
period.
OVERALL EXPERIENCEMy overall experience in Pantaloons Retail
India limited was very good .I had came across the corporate
exposure and the practical knowledge regarding the HR and even I
had learned lot during my internship period .I had worked under
Miss. SINDHURA CHOWDARY (Sr. HR Executive) who made us aware
regarding the official task of PRIL and I had learned all the HR
functions which is performed in organisation for their employees
and the task related to it.In this 1 month internship period my
overall experience was fantastic and had learned a lot under the
guidance of Miss Ruchi Gupta, and had a good bonding with other
staffs well. If I get the opportunity to work in this organisation
I would never leave this opportunity.