India Glycols Limited

1.1 INDIA GLYCOLS LIMITED

Objective of the Company:

Our business objective is to be the market leader in the surfactants and performance chemicals,

by developing internationally proven technology & offering high quality, cost effective

performance product. We strive to achieve this through innovative R& D efforts, proactive

marketing, and utilizing human resources to its full potential and with concern for the

environment.

First and only company in the world to produce Ethylene Oxide (EO) / Mono Ethylene Glycol

(MEG) from renewable agro route based on molasses, since 1989. Leading manufacturers of

Glycols, Ethoxylates, Performance Chemicals, Glycol Ethers & Acetates, Guar Gum and

Potable Alcohol. Completely integrated state of the art manufacturing process with emphasis on

superior quality by deploying internationally proven technologies, innovative R&D and

customized approach. The company’s corporate office is in Kolkata and its head office is

situated at Okhla Industrial Area, New Delhi

Largest Ethoxylate, Glycol Ether producer and thus leader in Ethylene Oxide

Derivatives/Surfacetant business in India.

Global player meeting international specifications and norms, exporting to South East

Asia, Middle East, Europe, Australia and USA.

Catering to more than 1,000 customers in various end-use industries such as Textile,

Agrochemical, Oil & Gas, Personal Care, Pharmaceuticals, Brake Fluids, Detergent,

Emulsion Polymerisation & paints etc.

Offer customer specific products to meet their performance / technical requirements

Customer base includes large MNCs, Public Sector Undertakings and large as well as

medium & small Indian organizations.

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MANUFACTURING PROCESS AT THE COMPANY

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TECHNOLOGY PROFILE AT THE COMPANY

PRODUCTTECHNOLOGY/LICENSOR

Glycols Scientific Design Company Inc., USA(leading Ethylene Oxide / Ethylene Glycol licensor

globally)

Ethoxylates & PEGS Press industria AG, Italy(leading Ethoxylates technology licensor globally)

Performance Chemicals Sanyo Chemical Industries Ltd. JapanLeader in speciality Surfactants in Japan

Glycol Ethers Sulzer Chemtech, Switzerland  

Extra Neutral Alcohol Alfa Laval, India, USA

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CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT

INTRODUCTION

India Glycols Limited (the Company) is committed to conducting its business in accordance with

the applicable laws, rules and regulations and with highest standards of business ethics. This

code is intended to provide guidance and help in recognizing and dealing with ethical issues,

provide mechanism to report unethical conduct and to help foster a culture of honesty and

accountability. Each Director and Senior Official is expected to comply with the letter and spirit

of this Code.

A Director and Senior Official must not only comply with applicable laws, rules and regulations

but should also promote honest and ethical conduct of the business. They must abide by the

policies and procedures that govern the conduct of the Company’s business. Their

responsibilities include helping to create and maintain a culture of high ethical standards and

commitment to compliance and maintain a work environment that encourages the stake holders

to raise concerns to the attention of the management.

This Code of Conduct has been adopted by the Company to comply with the applicable rules of

stock exchanges where securities of the Company are listed.

GUIDLINES FOR CONDUCT

Each Director should seek to use due care in the performance of his/her duties, be loyal to the

Company, act in good faith and in a manner such Director reasonably believes to be not opposed

to the best interest of the Company. A Director should seek to:

i. make reasonable efforts to attend Board and committee meetings;

ii. dedicate time and attention to the Company; and

iii. seek to comply with all applicable laws, regulation and confidentiality obligations and

corporate policies of the Company.

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3. CORPORATE BUSINESS OPPORTUNITY

In carrying out the duties and responsibilities, Directors and Senior officials should avoid:

i. appropriating corporate business opportunities for themselves that are discovered

through the use of Company’s property or information or their position as Director or

Senior Official;

ii. Using Company’s property or information or their position as Director or Senior

Official for personal gain; and

iii. Competing with the Company

1.2 INTRODUCTION TO MOTIVATION

5

A man always have two reasons for doing anything; a good reason and the real reason.

-- John Pierpont Morgan

At one time, employees were considered just another input into the production of goods and

services. What perhaps changed this way of thinking about employees was research, referred to

as the Hawthorne Studies, conducted by Elton Mayo from 1924 to 1932 (Dickson, 1973). This

study found employees are not motivated solely by money and employee behavior is linked to

their attitudes (Dickson, 1973). The Hawthorne Studies began the human relations approach to

management, whereby the needs and motivation of employees become the primary focus of

managers .

Historical Development

Understanding what motivated employees and how they were motivated was the focus of many

researchers following the publication of the Hawthorne Study results (Terpstra, 1979). Five

major approaches that have led to our understanding of motivation are:

1. Maslow's need-hierarchy theory

2. Herzberg's two- factor theory

3. Vroom's expectancy theory

4. Adams' equity theory

5. Skinner's reinforcement theory.

According to Maslow, employees have five levels of needs (Maslow, 1943):

1. Physiological needs

2. Safety needs

3. Social needs

4. Self- esteem needs and

5. Self- actualizing needs.

Maslow argued that lower level needs had to be satisfied before the next higher level need

would motivate employees.

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Herzberg's work categorized motivation into two factors:

1. motivators (or intrinsic factors, such as achievement and recognition, produce job

satisfaction.)

2. hygienes (or extrinsic factors, such as pay and job security, produce job

dissatisfaction.)

Vroom's theory is based on the belief that employee effort will lead to performance and

performance will lead to rewards (Vroom, 1964). Rewards may be either positive or negative.

The more positive the reward the more likely the employee will be highly motivated.

Conversely, the more negative the reward the less likely the employee will be motivated.

Adams' theory states that employees strive for equity between themselves and other workers.

Equity is achieved when the ratio of employee outcomes over inputs is equal to other employee

outcomes over inputs (Adams, 1965).

Skinner's theory simply states those employees' behaviors that lead to positive outcomes will be

repeated and behaviors that lead to negative outcomes will not be repeated (Skinner, 1953).

Managers should positively reinforce employee behaviors that lead to positive outcomes.

Managers should negatively reinforce employee behavior that leads to negative outcomes.

Motivation Defined

Many contemporary authors have also defined the concept of motivation. Motivation has been

defined as:

The psychological process that gives behavior purpose and direction (Kreitner, 1995)

A predisposition to behave in a purposive manner to achieve specific, unmet needs

(Buford, Bedeian, & Lindner, 1995)

An internal drive to satisfy an unsatisfied need (Higgins, 1994);

The will to achieve (Bedeian, 1993).

Thus, motivation is operationally defined as the inner force that drives individuals to accomplish

personal and organizational goals.

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The Role of Motivation

Why do we need motivated employees? The answer is survival (Smith, 1994). Motivated

employees are needed in our rapidly changing workplaces. Motivated employees help

organizations survive. Motivated employees are more productive. To be effective, managers

need to understand what motivates employees within the context of the roles they perform. Of all

the functions a manager performs, motivating employees is arguably the most complex. This is

due, in part, to the fact that what motivates employees changes constantly. For example, research

suggests that as employees' income increases, money becomes less of a motivator. Also, as

employees get older, interesting work becomes more of a motivator.

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2 RATIONALE BEHIND THE STUDY

The purpose of the proposed research was to find out the level of satisfaction amongst the

permanent workers of India Glycols Limited. We intended to investigate:

1) How monetary incentives affect the overall satisfaction level of employees?

2) What are the other components which could be attributed to the motivation and

satisfaction level of the workers?

3) What are the processes which could be improved to elevate the existing level of

satisfaction?

The purpose of this study was to describe the importance of certain factors in motivating

employees at. Specifically, the study sought to describe the ranked importance of the following

motivating factors: (a) interesting work, (b) good wages, (c) full appreciation of work done, (d)

job security, (e) good working conditions, (f) promotions and growth in the organization, (g)

stress factor in the job, (h) rewards given to employees, (i) opportunity to interact with others and

(j) personal satisfaction.

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3 REVIEW OF THE LITERATURE

To collect the necessary data, information and facts, we begin with the search of relevant

material in the library. We referred to various books, magazines and journals related to our topic

of research. We also took help of online material and resources in order to obtain the varied and

diverse information as much as possible. The various online & offline sources used for this

research are as follows:

www.qualitydigest.com

www.shrm.org

www.splinger.com\ for motivation related articles

www.motivation123.com

Human Resource & Management –Text & Cases by V S P Rao

Business Today – article on how to keep employees happy

Human Resource Management – T.N. Chabra ( text book)

4 RESEARCH OBJECTIVE

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To study the level of satisfaction amongst the permanent workers of India Glycols Limited.

5 HYPOTHESIS

Employees are motivated both through monetary as well as non-monetary factors.

6 RESEARCH METHODOLOGY

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Research Design

The research design for this study employed a descriptive survey method. The target population

of this study included employees at the India Glycols Limited The sample size included 15

employees of the target population. The questionnaire asked participants to rank the importance

of factors that motivated them in doing their work on a scale of 1-5 as follows:

5 = Strongly Agree

4 = Agree

3 = Neutral

2 = Disagree

1 = Strongly Disagree

Primary Data Collection

In this stage, we collected data through questionnaires given to the workers at the company’s

head office situated in Okhla Industrial Area, New Delhi.

Secondary Data Analysis

For background information, we used secondary data from the internet (old news items relevant

to the topic, websites of India Glycols Limited) and other related magazines and journals. We

also asked the management at India Glycols Limited for their records and files to get the required

information. We also visited various databases like EBSCO and splinger.com for research

articles on motivation of employees. After carrying out the research we found that our findings

were similar to what we found in the secondary data research that employees are motivated both

through monetary as well as non-monetary factors.

The questionnaire used for the research was given as below:

QUESTIONNAIRE

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We, the students of University School of Management Studies are conducting a research on

motivation level of employees in an organization. So, kindly fill in the questionnaire below

with the correct responses. The information obtained through this Questionnaire will be kept

confidential and will be used for academic purposes only.

Personal Information

Name: ____________________________________________________

Age: _____________________________________________________

Gender (M/F): _____________________________________________

Name of the Organization: ___________________________________

Department you work in:

¨ Customer Service ¨ Finance/Accounting

¨ MIS ¨  Sales/Marketing

¨  Corporate Marketing ¨  Human Resources

Position at which you are working:

¨ Clerical ¨ Technician

¨ Managerial ¨  Accounting

¨  Project Manager ¨  Others

How long have you worked at (company):

¨ Less than six months ¨ 3-5 years

¨ 6 months- 1 year ¨  More than 5 years

¨  1- 2 years  

1. Do you feel that employees are recognized as individuals?

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¨  Always ¨  Usually ¨   Sometimes ¨   Rarely ¨   Never

2. Which factors motivates you more?

¨ Monetary ¨ Non- Monetary

3. Please indicate your level of agreement with the following (tick one):

ParticularsStrongly

agree

(5)

Agree

(4)

Neutral

(3)

Disagree

(2)

Strongly

disagree

(1)

If I do a good job I will be rewarded

My work is often appreciated by my

boss

I do my job more effectively when I

am motivated.

My working environment is proper and

hygienic.

I feel stressed in my job.

I receive enough opportunity to

interact with other employees formally.

My company provides various

incentives to hard working employees

There is enough scope for growth &

promotion in the company.

I am proud to work for this company

Signature: _____________________

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7 ANALYSIS AND INTERPRETATION

The responses based on scales were tabulated and were analysed to understand the motivation

level of employees.

The study has covered 15 employees working in the head office of Glycols India Limited

situated at Okhla Industrial Area, New Delhi. The responses for each question collected from all

the respondents are compiled and interpreted as follows:

For ease of compilation the total no. of responses are categorized as x and the percentage of

responses are given as y in the following tabulations:

5 = Strongly Agree

4 = Agree

3 = Neutral

2 = Disagree

1 = Strongly Disagree

X = Total No of responses

Y = % of responses

The sample taken up for the study were the employees working at the middle level of the

organization in various departments. Their responses were collected through the questionnaire

distributed among them. The detailed interpretation of the results is as follows:

1. If I do a good job I will be rewarded

SCALE Strongly Agree

Agree Neutral Disagree Strongly disagree

x 4 6 5y 26% 40% 33%

15

x

0

1

2

3

4

5

6

7

StronglyAgree

Agree Neutral Disagree Stronglydisagree

No

. o

f R

es

po

ns

es

x

It was seen that 40% of the employee agree that they will be rewarded on doing a good job

while 26% of respondents were highly agreed. However, 33% of respondents do not consider

doing good job as a factor of getting rewarded. Thus employees were motivated to do a good

job.

2. My work is often appreciated by my boss

SCALE Strongly Agree

Agree Neutral Disagree Strongly disagree

x 2 7 4 2y 13% 46% 26% 13%

x

13%

47%27%

13% 0% Strongly Agree

Agree

Neutral

Disagree

Strongly disagree

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It was seen that 47% of the employees get motivated when their work is appreciated by their

boss, 13% of respondents were highly agreed. However, 26% of respondents do not get

motivated when their work is appreciated by their bosses.

3. I do my job more effectively when I am motivated

SCALE Strongly Agree

Agree Neutral Disagree Strongly disagree

x 5 7 3y 33% 46% 20% 0% 0%

x

0

2

4

6

8

StronglyAgree

Agree Neutral Disagree Stronglydisagree

x

It was seen that productivity & efficiency of doing work increases when employees are

motivated. Only 20% of the respondents were neutral about the fact.

4. My working Environment is proper & hygienic

SCALE Strongly Agree

Agree Neutral Disagree Strongly Disagree

x 2 8 2 3y 13% 53% 13% 20%

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x

02468

10

StronglyAgree

Agree Neutral Disagree Stronglydisagree

x

It was evident that most of the employees (more than 50%) consider good working

conditions as an important motivator. However, 20% of respondents think that their working

environment is not up to the mark.

5. I feel stressed in my job

SCALE Strongly Agree

Agree Neutral Disagree Strongly disagree

x 9 3 3y 60% 20% 20%

x

0%

60%20%

20%

0%StronglyAgree

Agree

Neutral

Disagree

Stronglydisagree

It was seen that 60% of the employees feel stressed in their job and were not motivated whereas

20% of the respondents disagree with this fact.

6. I receive enough opportunity to interact with other employees formally.

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SCALE Strongly Agree

Agree Neutral Disagree Strongly Disagree

x 2 7 3 3y 13% 46% 20% 20%

x

0

2

4

6

8

StronglyAgree

Agree Neutral Disagree Stronglydisagree

x

It was found that 46% of the respondents feel that their social needs are met by the company

whereas 20 % of them were neutral and 20% do not agree with the fact.

7. My company provides various incentives to hard working people.

SCALE Strongly Agree

Agree Neutral Disagree Strongly Disagree

x 4 4 6 1y 26% 26% 40% 7%

x

0

2

4

6

8

StronglyAgree

Agree Neutral Disagree Stronglydisagree

x

It was observed that 40% of the respondents said that there is no incentive provided by the

company to the hard working employees. The percentage of employees who agree with the

fact & those who were neutral was same.

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8. There is enough scope for growth & promotion in the company.

SCALE Strongly Agree

Agree Neutral Disagree Strongly Disagree

x 1 7 2 5y 6% 46% 13% 33%

x

0

2

4

6

8

StronglyAgree

Agree Neutral Disagree StronglyDisagree

x

It was found that 46 % of the respondents agree with the fact that there is enough scope in the

company for growth and promotion and so they are motivated to work hard whereas 33%

disagree with the fact.

9. I am proud to work for this company.

SCALE Strongly Agree

Agree Neutral Disagree Strongly Disagree

x 3 7 4 1y 20% 46% 26% 6%

20

x

0

2

4

6

8

StronglyAgree

Agree Neutral Disagree StronglyDisagree

x

It was seen that 66% (20+46) employees feel that their higher order needs are satisfied and hence

they are highly motivated, 26% were neutral about the fact & 6% of the respondents disagree

with the fact.

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8 RESULTS AND CONCLUSION

It was found that if an employee feels that there is a lack of appreciation for work done, as being

too low relative to another employee, an inequity may exist and the employee will be de-

motivated. Further, employees will attempt to restore equity through various means, some of

which may be counter- productive to organizational goals and objectives. For instance,

employees who feel their work is not being appreciated may work less or undervalue the work of

other employees.

The absence of motivators does not lead to dissatisfaction. For example, if employees feel

stressed in their job, then this would not lead to their dissatisfaction. But paying employees lower

wages than what they believe to be fair may lead to job dissatisfaction. Conversely, employees

will be motivated when they are doing interesting work and but will not necessarily be motivated

by higher pay.

What is clear, however, is that employees rank various factors as the most important

motivational factor according to their need and aspirations. At one point of time, he is motivated

by monetary factors whereas at some other point of time (for instance when his primary needs

are satisfied), he give more importance to non-monetary factors.

Thus, our hypothesis that employees get motivated by both monetary as well as non-monetary

factors was proved correct.

The strategy for motivating centers' employees depends on which motivation theories are used as

a reference point. If Hertzberg's theory is followed, management should begin by focusing on

pay and job security (hygiene factors) before focusing on interesting work and full appreciation

of work done (motivator factors). If Adams' equity theory is followed, management should begin

by focusing on areas where there may be perceived inequities (pay and full appreciation of work

done) before focusing on interesting work and job security. If Vroom's theory is followed,

management should begin by focusing on rewarding (pay and interesting work) employee effort

in achieving organizational goals and objectives. Thus, the key to motivating centers' employees

is to know what motivates them and designing a motivation program based on those needs.

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9 REFERENCES

www.qualitydigest.com

www.shrm.org

www.splinger.com\ for motivation related articles

www.motivation123.com

Human Resource & Management –Text & Cases by V S P Rao

Business Today – article on how to keep employees happy

Human Resource Management – T.N. Chabra ( text book)

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