Ram a Krishna

8/3/2019 Ram a Krishna

1/26

Project Viva- Voce Presentation for

A Study on Impact of Employee Engagement Practices on Employee

Satisfaction at

Broad ridge Financial Solutions India Limited

Under the Esteemed Guidance of

Dr. A PRABHU KUMAR

Professor and Placement Officer, JNTU Hyderabad

Submitted by

Mr.V.Ramakrishna,

Roll No. 08 032E 0030


2/26

Agenda

Introduction

Company Profile

Research Methodology Findings

Data interpretation

Statistical analysis

Suggestions and Conclusion Bibliography

Annexure - Questionnaire


3/26

Introduction

Employee engagement is defined as Heightened emotional connection

that an employee feels for his or her organization, that influences him or

her to exert greater discretionary effort to their work .

Employee engagement impacts an organization in different ways. The

level of engagement may affect key factors such as sales, customer

satisfaction and employee turnover. An organization must identify and

then develop the strength and talent of their employees to be competitive.

Engaged employees create satisfied customer base and higher profits forthe organization. This engagement become best competitive advantage that

companys exerts to defend their businesses. Engaged employees are

attracted to and inspired by their work (I want to do this), committed (I

am dedicated to the success of what I am doing), and fascinated (I love

what I am doing).


4/26

Employee Engagement Today

Roles and Responsibilities Individuals: Ownership, clarity and action. Individuals need to know

what they want and what the organization needs and then take

action to achieve both.

Managers: Coaching, relationships and dialogue. Managers mustunderstand each individuals talent, interests and needs and then match

those with the organizations objectives while at the same time

creating personal, trusting relationships. Furthermore, they need to

discuss engagement often.

Executives: Trust, communication and culture. Executives have to

demonstrate consistency in words and actions, communicate a lot (and

with a lot of depth), and align all business practices and behaviors

throughout the organization to drive results andengagement.

* Based on the recommendations provided by Employee Engagement Report

2011.


5/26

Company Profile

Broadridge Financial Solutions India Limited

Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services

Group, with over $2.0 billion in revenues and more than 45 years of

experience, is a leading global provider of technology-based outsourcing

solutions to the financial services industry. Broadridge integrated systems andservices include investor communication, securities processing, and clearing

and outsourcing solutions.

Broadridge offers advanced, integrated systems and services that are

dependable, scalable and cost-efficient. Broadridge systems help reduce the

need for clients to make significant capital investments in operations

infrastructure, thereby allowing them to increase their focus on core business

activities.

Broadridge serve a large and diverse client base in the financial solutions

industry including retail and institutional brokerage firms, global banks,

mutual funds, annuity companies, institutional investors, specialty trading

firms and clearing firms. Broadridge also provide services to corporate issuers.


6/26

Company Profile

Broadridge Financial Solutions India Limited

Global presence, local expertise

Broadridge is strategically aligned to the way its clients conduct

their business. Broadridge service its clients by providing solutions

and services that meet global, regional and local requirements,backed by comprehensive and in-depth market expertise.

Headquartered in New York, Broadridge international market

presence spans regional and local centers across America, Europe,

Asia and Australia.

World leading services, world leading people

With over 4,000 dedicated professionals, including its established

and highly experienced management team. Broadridge associates

are committed to consistently attaining the highest standards of

service excellence at every level across Broadridge globalorganization.


7/26

Need for the Study

As engagement remains the ultimate prize for employers, companies may

use different names or define it slightly differently, but the end game is the

same for everyone: discretionary effort. At a time when virtually every

organization is struggling with cutbacks and financial pressure trying to

improve performance with fewer people and dollars having a critical

mass of employees who freely give that effort is of tremendous value.

Engaged employees are more productive, more profitable and more

customer focused and less likely to leave the organization. It works as a

motivation factor to the employee to work beyond personal factors. This

indicates the engagement is linked to the organizational performance.

Hence this study evolves with a need to understand the impact of such

employee engagement towards employee satisfaction in practical with

special reference to Financial services industry where employee and client

relationship has major role to play.


8/26

Scope of the Study

This project involves an evaluation of factors affecting the

employee engagement. The important variables which affect the

engagement will be studied. The study will be done at Broadridge

Financial Solutions India Limited, Hyderabad. The study can befurther developed with the consideration of some more factors like

compensation, etc and can be extended to various organizations to

bring out the employee engagement in entire Financial Services

industry.

Conceptual scope: The following Employee engagement factors are

considered for the study to assess their impact towards Employee

satisfaction.

Performance Appraisal, Compensation and Benefits, Work culture,

Ambience, Shifts, Monitoring System, Training and Development,

Job Rotation, Support for innovation, Job Profile, Code of Conduct,

Information Sharing.


9/26

Objectives of the Study

To study the work environment, and implementation of cultural factors and their impact on employees performance.

To examine the adequate motivation factors and learningopportunities provided by the organization as employeeengagement activities.

To examine whether all the cadres of employees have equal

participation opportunities.

To analyze the satisfaction levels of employees depending onthe employee engagement practices.


10/26

Hypotheses

Hypothesis - 1:

Null hypothesis H10: There is no significant relationship ofthe work environment and cultural factors as a part of engagement to the satisfaction of an employee.

Alternative HypothesisH1a: There is a significantrelationship of the work environment and cultural factors asa part of engagement to the satisfaction of an employee.

Hypothesis - 2:

Null hypothesisH20: There is no significant relationship ofthe motivational factors and the learning opportunities as a

part of engagement to the satisfaction of an employee. Alternative hypothesisH2a: There is a significant

relationship of the motivational factors and the learningopportunities as a part of engagement to the satisfaction ofan employee.


11/26

Data Collection

Primary Data

The primary data of the present study on Employee engagement practices isthe first hand information collected basing on a logically arranged

questionnaire. The data is obtained from employees by surveyingquestionnaire and face to face interaction in the form of schedules. Criticalobservation method is also followed in order to observe day to day workenvironment.

Secondary Data

This study really gave an enlightening view of the concept Employee

Engagement giving insights starting from the history of employeeengagement. Engagement being prominent today for employeesatisfaction, the relationship between these two factors with respect to thefinancial services industry is also critically studied through secondary data.Apart from this company profile has been taken out through variousstatistical reports and companies websites.


12/26

Sampling

Sampling Technique:

Sampling technique adopted is Multistage Sampling.

Stage 1: Company is selected purposively as per convenience ofresearcher.

Stage 2: Random sampling technique is used in selecting therespondents.

The study was focused on the employees of Broadridge

Financial Services, Hyderabad office, which had strength of 1000employees (appx). 10% of the available population is selected forthe study. As there wasnt a chance to interact with all theemployees and a logical method couldnt be implemented to pickup the samples, we need to confine to random sampling throughwhich we could get a response from 100 employees which had aright mix of different segments of employees in the organization.


13/26

Data Analysis

Correlation Analysis: To understand the

relationship/association among the variable chosen for the

study.

Chi Square Test: Test for Hypothesis

Factor Analysis to determine the prominent variable

impacting to the Employee satisfaction.


14/26

Limitations of the Study

Time Constraint: The time proposed for thestudy wasnt comfortable enough to focus on allthe finanical services organizations as well as all

employees of Broadridge. Employee availability: It was a Herculean task toget the appointments of the employees in theircomfortable time to collect their opinions aboutemployee engagement at their organization.More over they couldnt identify the engagement

practices specifically, hence educating themwhat needs to be considered as engagement

practices also consumed lot of time for whichtheir availability was really low.


15/26

Future Scope of the Study

With an improved time frame this study can be further

extended to all the financial services or ganizations

with apt sample resembling the entire populationincluding all possible practices taking part in

engagement of employees to make really applicable

for the industry as well as the corporate world.


16/26

Findings of the Study

Most of the employees (57%) are comfortable in doing the work. Thatmeans they are getting adequate amenities to accomplish the job as earlyas possible. Very few people are uncomfortable with their workingwhich can be ignored.

It is found that every employee has participated in CSR activities

regularly though the frequency of participation is not same for all. Fewemployees are engaged in such activities every month, few quarterly,considerable number of employees half yearly and the remaining yearlyonce.

It was found that most of the employees (71%) are satisfied with theperformance appraisal method of their organizations. None of them aredissatisfied which shows that the organization is conductinggood

performance appraisal. It was found that only few employees (35%) are satisfied with their

compensation and the benefits they are receiving. This shows that theorganization needs to revise their policies regarding the compensation.


17/26


More than half of the respondents (52%) are satisfied with the workculture in their organization. However, it was found that a considerable

number of respondents (25%) are not satisfied with their work culture

which emphasized the need to improve the work culture by taking

appropriate measures.

A very interesting fact found in the study was only few employeesaccounting to just 13% are satisfied with the ambience in their

organization. It is highly recommended to modify the ambience of the

organization as per the interest of the employees.

Another interesting fact found in the study is almost all the employees are

not happy with their work hours and the shifts. Only 3% of the employeesare satisfied in this case. Hence it can be considered as the situation of

high emergency for the appropriate measures.

60% of the employees are satisfied with monitoring system that the

organization is using to measure the performance of the individual. The

others are not that satisfied and hence the monitoring system needs to be

improved.


18/26


More than 70% of the employees are satisfied with the Training &Development in their organization. Up to 10% of the employees arehowever in disappointment in this case.

It was found in the study that more than half of the respondents do notfeel satisfied with the job rotation implemented in their organizations.

Only 47 respondents are satisfied with their organizations measures forthe job rotation.

It was found in the study that more than 50% of the employees feel thatthey are not properly encouraged for innovations. 21% of them arehighly dissatisfied with the support offered in their organization.Organizations need to offer high support to the employees andencourage innovation.

Most of the employees are highly satisfied with the job what they aredoing. However, it was found that there are 30% of the employees whofeel that their job profile is not that satisfactory.

It was found that nearly half of the respondents are highly satisfied withtheir code of conduct. Few respondents (12%) show dissatisfaction inthis case. Organizations need to consider this issue.


19/26


Only 44% of the employees are satisfied with the information sharing in

their organization. This shows that the communication process in the

organizations is not that effective and requires immediate attention.

Almost all the employees are satisfied with the HR policies of theorganization. Though a quarter of them showed a neutral response, there

are no employees who are not satisfied with the policies.

In the study it was found that most of the employees (76%) are not

satisfied with their teams. Only 24% of them were able to cope up with

their teams. The organizations need to find out the reason for suchdissatisfaction.

40% of the employees feel that salary is the main thing to retain an

employee. 25% of them feel that the organizational environment plays

an important role in the employee retention. 20% feel it is the team spirit

that is important and the others feel organizational benefits effects the

retention.


20/26

Statistical Findings

Correlation Analysis

Positively Correlated Factors: Performance

Appraisal (0.991), Monitoring System(0.576),Training and Development(0.759), Job

Rotation(0.450), Support for innovation(0.607),

Job Profile(0.982), Code of Conduct(0.076),

Information Sharing(0.116).

Negatively Correlated Factors: Compensation

and Benefits(-0.499), Shifts(-0.661)


21/26

Statistical Findings cont

Test of Hypothesis Chi-Square

Hypothesis 1:

Null hypothesis: There is no significant relationship of the

work environment and cultural factors as a part ofengagement to the satisfaction of an employee.

Alternative Hypothesis: There is a significant relationshipof the work environment and cultural factors as a part ofengagement to the satisfaction of an employee.

Observation: According to the inference from Chi-Square theparameters like Work Environment does not havesignificant impact and Cultural factors has impact onemployee satisfaction but on considering the entirehypothesis to be unified, this indicates that Null Hypothesisis proved to be true.


22/26

Statistical Findings cont

Hypothesis 2:

Null hypothesis: There is no significant relationship of themotivational factors and the learning opportunities as a

part of engagement to the satisfaction of an employee. Alternative hypothesis: There is a significant relationship

of the motivational factors and the learning opportunitiesas a part of engagement to the satisfaction of an employee.

Observation: According to the inference from Chi-Square the

parameters as Training and Development, Performanceappraisal, Job rotation and other motivation factors andlearning opportunities have significant impact on employeesatisfaction. Hence the Alternative hypothesis is proved tobe true.


23/26

Conclusion

The Study on Employee Engagement practices at Broad ridge

Financial Solutions Ltd gave out the factors affecting the

employee engagement, their impact on the productivity and theperceptions of the various employees regarding the employee

engagement practices in Broad ridge Financial Solutions Ltd.

An organization needs to frame its policies in a way that they

are accepted by its internal customers and there by achievehigher engagement in the work and in turn productivity. The

measures adopted by an organization should also bring job

satisfaction to an employee.


24/26

Conclusion

The analysis of the data shows that 56% of the respondents feltthe employee engagement practices to contribute tosatisfaction and in their present organization these practices

satisfy them, where as 13% of the respondents gave a neutralresponse and 31% of respondents were dissatisfied. Thisindicates that as the employee engagement practices contributeto Employee satisfaction and lead to retention, Broadridge andeven all the or ganizations should focus to improve their

employee engagement practices to attain maximum of levelsof employee satisfaction. (The percentages mentioned aboveare the averages of the respondents response towards variousfactors of Employee engagement that represent the overallresponse in turn).


25/26

Conclusion Employee engagement activities as motivation factors are Performance

appraisal (0.013), work culture (0.025) , Job rotation (0.049), Monitoring

System (0.040) and learning opportunities are Training and

Development (0.032), Support towards innovation (0.011), Job profile

(.001) have significant impact with significance value less than 0.05

(5%) on employee satisfaction.

Work Environment like Ambience (0.0611) which has significance value

more than 0.05 (5%) does not have significant impact on employee

satisfaction.

Cultural factors as Work culture (0.025) and or ganizational culture as a

part of employee engagement have an impact on Employee Satisfaction.

Therefore, employee engagement is of much essence in an

organization and it has considerable impact on the performance. Top

management should also take care of various measures and strategies to

enhance the employee engagement.


26/26

Ram a Krishna

Documents