My Mba Projects Hr Project Employee Satisfaction 6p4x4s

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MBA HR PROJECT EMPLOYEE SATISFACTION Posted by lazy at 04:00 Labels: HR Project 1 comments CHAPTER 1

INTRODUCTION

Employee 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 falls short of expectations, the employee is dissatisfied and if it matches the expectations, the employee is satisfied. A high satisfaction implies improvement in efficiency and performance doing work 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. 1.1

AIM OF STUDY:

To carry out the study of the employee satisfaction at company and assess the employee satisfaction level in present competitive environment of Industry to help knowing and reading of the minds of the current generation professionals regarding their Company Culture, Compensation, Work atmosphere, Management , Job satisfaction, performance appraisal and Career growth opportunities.

1.2

RATIONALE BEHIND THE STUDY:

Employees are the basis of every organization. Recruiting and retaining knowledgeable people for the job is essential for an employer. But it works only if employee satisfaction is considered more important because of it employees attracted and not leave the company. It is require studying the various factors to assess employee satisfaction level. 1.3

OBJECTIVES OF STUDY:

i.

To Measure the satisfaction levels of employees on various factors and give suggestions for improving the same.

ii.

To study the relationship between the personal factors of the employee (Gender, Designation, Qualification, Age, and Years

of Service in a company) with satisfaction level. iii.

To derive and analyze the current satisfaction level of the employees in the company

iv.

To study the various factors which influencing employee satisfaction.

1.3a

HYPOTHESIS:

1.

There is no significant relationship between gender and level of satisfaction.

2.

There is no significant relationship between designation and level of satisfaction.

3.

There is no significant relationship between educational qualification and level of satisfaction.

4.

There is no significant relationship between age and level of satisfaction.

5.

There is no significant relationship between experience (no. of years of service) in a company and level of satisfaction.

1.4

RESEARCH METHODOLOGY:

The methodology followed for conducting the study includes the specification of research design, sample design, questionnaire

design, data collection and statistical tools used for analyzing the collected data. 1.4a RESEARCH DESIGN: The research design used for this study is of the descriptive type. Descriptive research studies are those studies which are concerned with describing the characteristics of a particular individual or a group. 1.4b POPULATION: The total element of the universe from which sample is selected for the purpose of study is known as population. The population of my research is the employees of company. 1.4c SAMPLE SIZE: All the items consideration in any field of inquiry constitutes a universe of population. In this research only a few items can be selected form the population for our study purpose. The items selected constitute what is technically called a sample. Here out sample size is 50 employees from the total population to conduct the study. 1.4d DATA COLLECTION: The data source: Primary and Secondary The research approach: Survey Method The research instrument: Questionnaire Method The respondents: Executives, Sr. Executives, Assistant Managers, Managers and Top Management of various departments. 1.4e QUESTIONNAIRE SCHEDULE: Questions are framed in such a way that the answers reflect the ideas and thoughts of the respondents with regard to level of satisfaction of various factors of employee satisfaction. The questionnaire has total 50 questions and Likert scaling techniques has been used for each question. 5. Strongly agree 4. Agree 3. Neutral 2. Disagree 1. Strongly disagree 1.4f

TOOLS OF ANALYSIS:

1.4f1 Simple Percentage Analysis: Here the simple percentage analysis is used for calculating the percentage of satisfaction level in the total respondents. 1.4f2 Two-Way Analysis: The score secured by the respondents who falls between the score as up to 13 indicates less satisfaction of the respondents, from 14 –20 are got average satisfaction and above 21 respondents got highly satisfaction level. 1.4f3 Chi-Square Test: Chi-square test is applied to test the goodness of fit, to the distribution of observed data with assumed theoretical distribution. Therefore it is a measure to study the divergence of actual and expected frequencies; Karl Pearson’s has developed a method to test the difference between the theoretical (hypothesis) & the observed value. Chi – square test (X2) = (O – E) 2 / E Degrees Of Freedom = V = (R – 1) (C -1) Where, ‘O’ = Observed Frequency ‘E’ = Expected Frequency ‘R’ = Number of Rows ‘C’ = Number of Columns For all the chi-square test the table value has taken @ 5% level of significance. 1.4f4 Employee Satisfaction comparison using MEAN and Combined Mean: Mean for each factor was calculated to measure the satisfaction level of the employee in the organization on an average. Standard Deviation was also calculated to see the variation in data. Combined mean was calculated to find out level of satisfaction of employees for each factor described related to Gender, Designation, Qualification, Employee Age and Years of Service in a company. Mean =

Combined Mean =

Where , are means and nx , ny are respondent Standard Deviation =

1.5

AREAS OF STUDY:

The area of the study is Panasonic Energy India Co. Limited, Vadodara. 1.6

SIGNIFICANCE AND NEED FOR STUDY:

The employee satisfaction is the orientation of the industry towards his work role, which he is presently playing. The organization will only thrive and survive when its employees are satisfied. This makes person says completely that he is fully satisfied with the job. This study conducted so that the employees give their full, honest and frank opinion by remaining anonymous about how they feel about their jobs. The survey is also useful way to assess the training needs and also a tangible expression of the management’s interest in the employee welfare, which would give the employee a cause to have and feel better towards the management. 1.7

LIMITATIONS OF STUDY:

Each and every task has certain limitations and hurdles in the course of its performance. But this does not mean that the task should stick up whenever certain limitations come up. The need is to try one’s level best to solve incoming limitations. Few limitations of the project are enumerated below: •

This study is only limited to this company.

•

The method of random sampling is suitable for small populations only.

•

To create good image, respondents may give responses vary from the facts.

•

Some respondents hesitated to give the actual situation; they feared that management would take any action against them.

•

It does not ensure proportionate representation to all constituent group of population.

•

I was able to cover only those employees who were currently working in the company. CHAPTER 2

EMPLOYEE SATISFACTION

2.1

CONCEPT

Employee satisfaction is the terminology used to describe whether employees are happy and contented and fulfilling their desires and needs at work. Many measures meaning that employee satisfaction is a factor in employee motivation, employee goal achievement, and positive employee morale in the workplace. As per Vroom “Employee Satisfaction is a positive orientation of an individual towards a work role which he is presently occupying” Employee satisfaction is a measure of how happy workers are with their job and working environment. Keeping morale high among workers can be of tremendous benefit to any company, as happy workers will be more likely to produce more, take fewer days off, and stay loyal to the company. There are many factors in improving or maintaining high employee satisfaction, which wise employers would do well to implement. Employee satisfaction, while generally a positive in organization, can also be a bad luck if mediocre employees stay because they are satisfied with your work environment. Many experts believe that one of the best ways to maintain employee satisfaction is to make workers feel like part of a family or team. Holding office events, such as parties or group outings, can help build close bonds among workers. Many companies also participate in team-building retreats that are designed to strengthen the working relationship of the employees in a non-work related setting. Camping trips, paintball wars and guided backpacking trips are versions of this type of team-building strategy, with which many employers have found success. Of course, few workers will not experience a boost in morale after receiving more money. Raises and bonuses can seriously

affect employee satisfaction, and should be given when possible. Yet money cannot solve all morale issues, and if a company with widespread problems for workers cannot improve their overall environment, a bonus may be quickly forgotten as the daily stress of an unpleasant job continues to mount. If possible, provide amenities to your workers to improve morale. Make certain they have a comfortable, clean break room with basic necessities such as running water. Keep facilities such as bathrooms clean and stocked with supplies. While an air of professionalism is necessary for most businesses, allowing workers to keep family photos or small trinkets on their desk can make them feel more comfortable and nested at their workstation. Basic considerations like these can improve employee satisfaction, as workers will feel well cared for by their employers. The backbone of employee satisfaction is respect for workers and the job they perform. In every interaction with management, employees should be treated with courtesy and interest. An easy avenue for employees to discuss problems with upper management should be maintained and carefully monitored. Even if management cannot meet all the demands of employees, showing workers that they are being heard and putting honest dedication into compromising will often help to improve morale. Satisfaction = f(what employee expects, what she gets, time, back ground of the employee- social, economic, cultural) Satisfaction being a continuous process starts from the day 1 and gets reinforced with time depending on the importance of the various factors considered to be important for the individual employee. Loyalty towards the organization starts to develop when the employee continues to get the positive reinforcements on various important aspects for the duration of the employment. Core Values as a Foundation of Employee Satisfaction: These are the values that have enabled employees to build the leading company in industry; these are the values that will fuel employees’ worldwide growth in the coming years; and these are the values that will drive employees’ career: •

Professionalism – Demonstrating professional methods, character and standards. Treating prospects, clients and co-workers

generously and charitably at all times, but especially in the face of adversity. •

Enthusiasm – Showing excitement, optimism and ion for your work.

•

Resourcefulness – Acting effectively and imaginatively to produce great results from scarce resources.

•

Self-directedness – Working independently and autonomously to achieve the goals set by management.

•

Ethics – Acting in accordance with the accepted principles of right and wrong that govern the conduct of our profession.

•

Unselfishness – Putting others before yourself, giving your time and effort for prospects, clients and co-workers. Showing

cooperative effort as the member of a group to achieve a common goal. •

Strategic-mindedness – Suggesting and implementing long-term improvements springing from a sequence of short-term

tasks. 2.2 WHY TO STUDY ABOUT EMPLOYEE SATISFACTION? The study of "employee satisfaction" helps the company to maintain standards & increase productivity by motivating the employees. This study tells us how much the employees are capable & their interest at wok place? What are the things still to be satisfy to the employees. Although "human resources" are the most important resources for any organization, so to study on employee’s satisfaction helps to know the working conditions & what are the things that affect them not to work properly? Always majority of done by the machines/equipments but without any manual moments nothing can be done. So to study on employee satisfaction is necessary The Hows and Whys of Employee Satisfaction Mapping: An organization is all about customer satisfaction. Companies understand this and focus all their energy on their service or customer experience. However, many companies do this at the cost of employee experience. What does this mean? Is customer satisfaction not the priority? It is! But it is important not to lose sight of people who deliver the end product or service to the customers – the employees. These are the people that need a proper system. Employee satisfaction is paramount as this is what will determine the success or failure of a company. When employees are satisfied and happy about working in an organization, the customer is the first person to notice that.

With employees getting thin-skinned every day, it depends completely on the employer to ensure they do not have their top talent drained away by the new competitor on the block. In the current scenario, the decision of hopping by the employee is triggered by the minutes of issues, such as being ticked off in a not too friendly tone or even an uneasy office environment. It becomes important to be aware and understand the signals that are given out by the employees. The management will do well to catch them before it is too late and the employee makes the decision to quit. This understanding gives the employers an edge and gives them the time to take corrective measures if necessary, in order to prevent talent loss. It could be that the employee is not happy with the environment or is suffering from a relationship issue with a colleague or a superior. These issues need to be handled before they get out of hand. How do employers understand their employees? How do they know what employees want? How do they map their satisfaction levels? There are several ways of mapping employee satisfaction. Surveys: This is a traditional method that involves employees’ participation. Employers create surveys that have questions on the different parameters related to the organization. They put forth questions in such a way that every aspect of an organization is touched and the is returned in the form of an opinion given by each employee. This helps employers understand how employees think and their satisfaction levels, and paves the path for problem solving. These surveys can actually identify problem areas and help come up with solutions to solve the problems. They reveal the employee attitude on the whole. One-on-One Interviews: A non-conventional tool, this involves discussions with every employee on a one-to-one basis every few months. Their thoughts are recorded and trouble parameters identified and taken care of. Exit Interviews: This comes into action after an employee submits his resignation papers. The problem with exit interviews is that most employees, once they decide to leave, are not forthright. In an attempt to keep good relations with the employer, they usually do not tell-all as they ought to. Many of them in fact give personal reasons for leaving and make the employer feel that all is well on the work front. Employers who fail at HR and see high attrition rate are those that consider monetary compensation as highly important. In spite of the fact that employees work for money, emotional rewards go a long way at keeping the employer-employee relation strong and have a larger impact on employee satisfaction. Tracing and improving this satisfaction level has to be top priority for the HR department of an organization. Employee satisfaction mapping can be the key to a better motivated and loyal workforce that leads to better organizational output in the form of better products and services and results in overall improvement of an organization. If a person is not satisfied by the job he is doing, he may switch over to some other more suitable job. In today’s environment it becomes very important for organizations to retain their employees. The reason may be personal or professional. These reasons should be understood by the employer and should be taken care of. The organizations are becoming aware of these reasons and adopting many strategies for employee retention. The basic needs other than routine tasks are to be taken care of on priority before it becomes late by HR department.

2.3

THEORIE’S OF EMPLOYEE SATISFACTION

The company's ability to fulfill the physical, emotional, and psychological needs of its employees. Satisfying the employee's all needs, so that he can give 100% to the company. Satisfaction refers to the level of fulfillment on one's needs, desires, and wants. It can be experienced in various levels or degrees. Vital ingredients for any employee’s satisfaction are physical, security, social and egoistic needs which satisfy individual’s psycho social. 1.

Physical and Security need: This relates to satisfaction of bodily function like hunger, thirst, shelter as well as to be secure

in the employment. 2.

Social Need: Since human beings are dependent on each other. There are some needs which can be satisfied only when

individual is recognized by other people. 3.

Egoistic Need: This relates to man desire to mans desire to be dependant to do things of his own end to sense of

accomplishment To a considerable extent however physical needs are satisfied off the job. Social needs are satisfied through personal s around the job where egoistic needs are chiefly satisfied through the job. EQUITY THEORY: Equity Theory attempts to explain relational satisfaction in of perceptions of fair/unfair distributions of resources within interpersonal relationships. Equity theory is considered as one of the justice theories. It was first developed in 1962 by John Stacey Adams, a workplace and behavioral psychologist, who asserted that employees seek to maintain equity between the inputs that they bring to a job and the outcomes that they receive from it against the perceived inputs and outcomes of others (Adams, 1965). The belief is that people value fair treatment which causes them to be motivated to keep the fairness maintained within the relationships of their co-workers and the organization. The structure of equity in the workplace is based on the ratio of inputs to outcomes. Inputs are the contributions made by the employee for the organization; this includes the work done by the employees and the behavior brought by the employee as well as their skills and other useful experiences the employee may contribute for the good of the company. The idea is to have the rewards (outcomes) be directly related with the quality and quantity of the employees contributions (inputs). If both employees were perhaps rewarded the same, it would help the workforce realize that the organization is fair, observant, and appreciative. This can be illustrated by the following equation:

Inputs: Time, Effort, Loyalty, Hard Work, Commitment, Ability, Adaptability, Flexibility, Tolerance, Determination, Enthusiasm, Personal sacrifice, Trust in superiors, from co-workers and colleagues, and Skill Outcomes: Outputs are defined as the positive and negative consequences that an individual perceives a participant has incurred as a consequence of his/her relationship with another. When the ratio of inputs to outcomes is close, than the employee should have much satisfaction with their job. Outputs can be both tangible and intangible (Walster, Traupmann & Walster, 1978). Typical outcomes include any of the following: Job security, Esteem, Salary, Employee benefit, Expenses, Recognition, Reputation, Responsibility, Sense of achievement, Praise, Thanks, and Stimuli. EXPECTANCY THEORY (VROOM’S THEORY): Expectancy theory is about the mental processes regarding choice, or choosing. It explains the processes that an individual undergoes to make choices. In organizational behaviour study, expectancy theory is a motivation theory first proposed by Victor Vroom of the Yale School of Management. Expectancy theory predicts that employees in an organization will be motivated when they believe that: •

putting in more effort will yield better job performance

•

better job performance will lead to organizational rewards, such as an increase in salary or benefits

•

These predicted organizational rewards are valued by the employee in question.

"This theory emphasizes the needs for organizations to relate rewards directly to performance and to ensure that the rewards provided are those rewards deserved and wanted by the recipients." Emphasizes self interest in the alignment of rewards with employee's wants. Emphasizes the connections among expected behaviours, rewards and organizational goals Vroom's theory assumes that behaviour results from conscious choices among alternatives whose purpose it is to maximize pleasure and to minimize pain. Together with Edward Lawler and Lyman Porter, Vroom suggested that the relationship between people's behaviour at work and their goals was not as simple as was first imagined by other scientists. Vroom realized that an employee's performance is based on individual factors such as personality, skills, knowledge, experience and abilities. Victor H. Vroom introduces three variables within the expectancy theory which are valence (V), expectancy (E) and instrumentality (I). The three elements are important behind choosing one element over another because they are clearly defined: effort-performance expectancy (E>P expectancy), performance-outcome expectancy (P>O expectancy). E>P expectancy: Our assessment of the probability our efforts will lead to the required performance level.

P>O expectancy: Our assessment of the probability our successful performance will lead to certain outcomes. Vroom’s model is based on three concepts: 1.

Valence - Strength of an individual’s preference for a particular

outcome. For the valence to be positive, the person must

prefer attaining the outcome to not attaining it. 2.

Instrumentality – Means of the first level outcome in obtaining the desired second level outcome; the degree to which a

first level outcome will lead to the second level outcome. 3.

Expectancy - Probability or strength of belief that a particular action will lead to a particular first level outcome.

Vroom says the product of these variables is the motivation. In order to enhance the performance-outcome tie, managers should use systems that tie rewards very closely to performance. Managers also need to ensure that the rewards provided are deserved and wanted by the recipients. In order to improve the effort-performance tie, managers should engage in training to improve their capabilities and improve their belief that added effort will in fact lead to better performance. MASLOW'S HIERARCHY OF NEEDS: Maslow's hierarchy of needs is a theory in psychology, proposed by Abraham Maslow in his 1943 paper A Theory of Human Motivation. Maslow subsequently extended the idea to include his observations of humans' innate curiosity. Maslow’s hierarchy of needs is most often displayed as a pyramid. The lowest levels of the pyramid are made up of the most basic needs, while the more complex needs are located at the top of the pyramid. Needs at the bottom of the pyramid are basic physical requirements including the need for food, water, sleep and warmth. Once these lower-level needs have been met, people can move on to the next level of needs, which are for safety and security. As people progress up the pyramid, needs become increasingly psychological and social. Soon, the need for love, friendship and intimacy become important. Further up the pyramid, the need for personal esteem and feelings of accomplishment take priority. Like Carl Rogers, Maslow emphasized the importance of self-actualization, which is a process of growing and developing as a person to achieve individual potential. Maslow believed that these needs are similar to instincts and play a major role in motivating behavior. Physiological, security, social, and esteem needs are deficiency needs (also known as D-needs), meaning that these needs arise due to deprivation. Satisfying these lower-level needs is important in order to avoid unpleasant feelings or consequences. Maslow termed the highest-level of the pyramid as growth need (also known as being needs or B-needs). Growth needs do not stem from a lack of something, but rather from a desire to grow as a person.

There are five different levels in Maslow’s hierarchy of needs: 1.

Physiological Needs: These include the most basic needs that are vital to survival, such as the need for water, air, food and

sleep. Maslow believed that these needs are the most basic and instinctive needs in the hierarchy because all needs become secondary until these physiological needs are met. 2.

Security Needs: These include needs for safety and security. Security needs are important for survival, but they are not as

demanding as the physiological needs. Examples of security needs include a desire for steady employment, health insurance, safe neighborhoods and shelter from the environment. 3.

Social Needs: These include needs for belonging, love and affection. Maslow considered these needs to be less basic than

physiological and security needs. Relationships such as friendships, romantic attachments and families help fulfill this need for companionship and acceptance, as does involvement in social, community or religious groups. 4.

Esteem Needs: After the first three needs have been satisfied, esteem needs becomes increasingly important. These

include the need for things that reflect on self-esteem, personal worth, social recognition and accomplishment. 5.

Self-actualizing Needs: This is the highest level of Maslow’s hierarchy of needs. Self-actualizing people are self-aware,

concerned with personal growth, less concerned with the opinions of others and interested fulfilling their potential. TWO-FACTOR THEORY:

The two-factor theory (also known as Herzberg's motivation-hygiene theory) was developed by Frederick Herzberg, a psychologist who found that job satisfaction and job dissatisfaction acted independently of each other. The theory states that there are certain factors in the workplace that cause job satisfaction, while a separate set of factors cause dissatisfaction. The two-factor, or motivation-hygiene theory, developed from data collected by Herzberg from interviews with a large number of engineers and ants in the Pittsburgh area. From analyzing these interviews, he found that job characteristics related to what an individual does — that is, to the nature of the work he performs — apparently have the capacity to gratify such needs as achievement, competency, status, personal worth, and self-realization, thus making him happy and satisfied. However, the absence of such gratifying job characteristics does not appear to lead to unhappiness and dissatisfaction. Instead, dissatisfaction results from unfavorable assessments of such job-related factors as company policies, supervision, technical problems, salary, interpersonal relations on the job, and working conditions. Thus, if management wishes to increase satisfaction on the job, it should be concerned with the nature of the work itself — the opportunities it presents for gaining status, assuming responsibility, and for achieving self-realization. If, on the other hand, management wishes to reduce dissatisfaction, then it must focus on the job environment — policies, procedures, supervision, and working conditions. If management is equally concerned with both then managers must give attention to both sets of job factors. Thus, satisfaction and dissatisfaction are not on a continuum with one increasing as the other diminishes, but are independent phenomena. This theory suggests that to improve job attitudes and productivity, s must recognize and attend to both sets of characteristics and not assume that an increase in satisfaction leads to decrease in un-pleasurable dissatisfaction. Two-factor theory distinguishes between: •

Motivators (e.g. challenging work, recognition, responsibility) which give positive satisfaction, arising from intrinsic

conditions of the job itself, such as recognition, achievement, or personal growth, and •

Hygiene factors (e.g. status, job security, salary and fringe benefits) which do not give positive satisfaction, although

dissatisfaction results from their absence. These are extrinsic to the work itself, and include aspects such as company policies, supervisory practices, or wages/salary. Essentially, hygiene factors are needed to ensure an employee is not dissatisfied. Motivation factors are needed in order to motivate an employee to higher performance, Herzberg also further classified our actions and how and why we do them, for example, if you perform a work related action because you have to then that is classed as movement, but if you perform a work related action because you want to then that is classed as motivation. The following table presents the top six factors causing dissatisfaction and the top six factors causing satisfaction, listed in the order of higher to lower importance. Leading to satisfaction •

Achievement

•

Recognition

•

Work itself

•

Responsibility

•

Advancement

•

Growth

•

Company policy

•

Supervision

•

Relationship with boss

•

Work conditions

•

Salary

•

Relationship with peers

•

Security

Leading to dissatisfaction

Herzberg reasoned that because the factors causing satisfaction are different from those causing dissatisfaction, the two feelings cannot simply be treated as opposites of one another. The opposite of satisfaction is not dissatisfaction, but rather, no satisfaction. Similarly, the opposite of dissatisfaction is no dissatisfaction.

2.4 DETERMINANTS OF EMPLOYEE SATISFACTION Employee satisfaction is a multi-variable and indescribable concept. There are number of factors that influence employee satisfaction. These factors can be classified into two categories. A) Organizational Variables: The organizational determinants of employee satisfaction play a very important role. The employees spend major part of their time in organization so there are number of organizational factors that determine employee satisfaction of the employees. The employee satisfaction in the organizations can be increased by organizing and managing the organizational factors. 1) Overall Individual satisfaction: Employees be should satisfy with the organization as a great place to work. 2) Compensation and Benefits: This is the most important variable for employee satisfaction. Compensation can be described as the amount of reward that a worker expects from the job. Employees should be provided with competitive salary packages and they should be satisfied with it when comparing their pay packets with those of the outsiders who are working in the same industry. A feeling of employee satisfaction is felt by attaining fair and equitable rewards. 3) Nature of Work: The nature of work has significant impact on the employee satisfaction. Employee satisfaction is highly influenced by the nature of work. Employees are satisfied with job that involves intelligence, skills, abilities, challenges and scope for greater freedom. Job dissatisfaction arises with a feeling of boredom, poor variety of tasks, frustrations and failures. 4) Work Environment and Conditions: Employees are highly motivated with good working conditions as they provide a feeling of safety, comfort and motivation. On contrary, poor working conditions brings out a fear of bad health in employees. Employees spend 6 to 8 hours at their workplace every day which makes a workplace their second home. It is up to the employers to see and make sure that the office is fully facilitated and is in good working order. It must be well lit and well ventilated with the right amount of lights, fans, air-conditioning. Cleanliness is of utmost importance as there are a huge number of workers working at a job place. The offices, cubicles, rest area, washrooms, kitchen & serving area must be neat and clean. The more comfortable the working environment is more productive will be the employees. 5) Job Content: Factors like recognition, responsibility, advancement, achievement etc can be referred to as job content. A job that involves variety of tasks and less monotonous results delivers greater employee satisfaction. A job that involves poor content produces job dissatisfaction. 6) Job Satisfaction: Job satisfaction is the favorableness or un-favorableness with which employees view their work. As with motivation, it is affected by the environment. Job satisfaction is impacted by job design. Jobs that are rich in positive behavioral elements – such as autonomy, task identity, task significance and contribute to employee’s satisfaction. Likewise, orientation is important because the employee’s acceptance by the work group contributes to satisfaction. Each element of the environmental system, can attract or detract from job satisfaction. 7) Organizational Level: The jobs that are at higher levels are viewed as prestigious, esteemed and opportunity for self-control. The employees that are working at higher level jobs express greater employee satisfaction than the ones working at lower level jobs.

8) Opportunities for Promotion: Promotion can be reciprocated as a significant achievement in the life. It promises and delivers more pay, responsibility, authority, independence and status. So, the opportunities for promotion determine the degree of satisfaction to the employees.

9) Work Group: There is a natural desire of human beings to interact with others and so existence of groups in organizations is a common observable fact. This characteristic results in formation of work groups at the work place. Isolated workers dislike their

jobs. The work groups make use of a remarkable influence on the satisfaction of employees. The satisfaction of an individual is dependent on largely on the relationship with the group , group dynamics, group cohesiveness and his own need for affiliation. 10) Leadership Styles: The satisfaction level on the job can be determined by the leadership styles. Employee satisfaction is greatly enhanced by democratic style of leadership. It is because democratic leaders promote friendship, respect and warmth relationships among the employees. On contrary, employees working under authoritarian and dictatorial leaders express low level of employee satisfaction.

11) Communication Methods: When istrative policies and all important announcements are communicated to the employees, it boosts their morale. The methods chosen for communication also play an integral role. Some of the methods that could be used are intranet, monthly newsletters, weekly meetings etc... 12) Safety measures: An employer must make sure that he provides a safe environment to his/her employee. The security measures outside office include security guards and parking facility. While inside the office, there must be introduced a safe environment for male and female employees to work so that if an employee has to work late hours she/he should feel safe and comfortable working in his/her office. There must be no discrimination or harassment practiced and the employee should be given equal opportunity to grow as an individual despite being male or female. B) Personal Variables: The personal determinants also help a lot in maintaining the motivation and personal factors of the employees to work effectively and efficiently. Employee satisfaction can be related to psychological factors and so numbers of personal factors determine the employee satisfaction of the employees. 1) Personality: The personality of an individual can be determined by observing his individual psychological conditions. The factors that determine the satisfaction of individuals and his psychological conditions is perception, attitudes and learning. 2) Age: Age can be described as a noteworthy determinant of employee satisfaction. It is because younger age employees possessing higher energy levels are likely to be having more employee satisfaction. In older age, the aspiration levels in employees increase. They feel completely dissatisfied in a state where they are unable to find their aspiration fulfilled.

3) Education: Education plays a significant determinant of employee satisfaction as it provides an opportunity for developing one’s personality. Education develops and improvises individual wisdom and evaluation process. The highly educated employees can understand the situation and asses it positively as they possess persistence, rationality and thinking power. 4) Gender Differences: The gender and race of the employees plays important determinants of Employee satisfaction. Women, the fairer sex, are more likely to be satisfied than their male counterpart even if they are employed in small jobs. The employee satisfaction can also be determined by other factors like learning, skill autonomy, job characteristics, unbiased attitude of management, social status etc. It is important for managers to consider all these factors in assessing the satisfaction of the employees and increasing their level of employee satisfaction. 2.5

HOW EMPLOYEES CAN EXPRESS THEIR DISSATISFACTION?

Top Triggers of Employee Dissatisfaction: •

Ambiguity in role and responsibilities

•

Responsibility without ability. If one has responsibility but no power to take decisions or ability one gets de-

motivated as one cannot show results or move things forward. •

Sometimes employees set too high unrealistic standards/ expectations for themselves and that too sometimes lead to

against within them. In this case if they do not have a good mentor, it may lead to a lot of stress and pressure as inability to achieve unrealistic goals may be due to circumstances beyond their control. •

Lack of professionalism, lack of systems and processes also leads to employee angst.

•

Biased approach/favoritisms/discrimination at work

•

Lack of challenge in the work/lack of opportunities to move up the career ladder

The employees sent out some signals to express their discontent and the organization should not take it lightly. 1) Excessive absenteeism: When a regular employee suddenly begins to take leave or is late to work, it could indicate either his personal problems or job dissatisfaction. 2) Lack of interest: When an employee who stays at work until his job is done, now begins to leave at sharp 5 pm no matter his job is done or not. 3) Lack of quality and quantity in work: When an employee is dissatisfied in his job then automatically his mental state is reflected in his quality of his work. 4) Complaints by employee: Many complaints are put forward by the employee regarding salary, benefits, working hours, working conditions etc. 5) Off the job work: Misusing the company facility for his personal use during working hours. 6) Misbehavior: An employee may express anger, frequent argument with association and team member, which come out due to frustration. Effects of Dissatisfaction: Recognizing the dissatisfaction is only half the battle. The company should consider the reason for the burnout and should try to solve those problems because it will affect other employees also. Otherwise it will affect the company in many ways like * Low productivity * High employee turnover cost * Poor employee morale 2.6 WHY IS EMPLOYEE SATISFACTION IMPORTANT? Purpose / benefits of employee satisfaction include as follows: 1. Importance of employee satisfaction for organization • Enhance employee retention. • Increase productivity. • Increase customer satisfaction • Reduce turnover, recruiting, and training costs. • Enhance customer satisfaction and loyalty. • More energetic employees. • Improve teamwork. • Higher quality products and/or services due to more competent, energized employees. 2. Importance of employee satisfaction for employee • Employee will believe that the organization will be satisfying in the long run. • They will care about the quality of their work. • They will create and deliver superior value to the customer. • They are more committed to the organization. • Their works are more productive. Outcome of Employee Satisfaction: a.

Satisfaction and Productivity: Satisfied employees are not necessarily more productive. Employee productivity is higher in

organization with more satisfied employees. b.

Satisfaction and Absenteeism: Satisfied employees have few avoidable absenteeism.

c.

Satisfaction and Turnover: Satisfied employees are less likely to quit. Organization takes actions to retain high performers

and to weed out lower performers. d.

Satisfaction and Organization Behavior: Satisfied employees who feel fairly treated by and are trusting of the organization

are more willing to engage in behaviors that go beyond the normal expectation of their job.

e.

Satisfied employee increase Customer Satisfaction: Because they are more friendly, upbeat and responsive. They are less

likely to turnover which helps build long-term customer relationship. They are experienced. 2.7

THE BEST HR PRACTICES THAT SUCCESSFUL COMPANIES PRACTICE

Why are employees in some companies happy to stick with the company while others look for a change? The reason is that some companies know how to take good care of their employees and provide a working environment that helps them retain their identity, while proving themselves and growing along with the company. How Managers Attract, Hire, Focus, And Keep Their Most Talented Employees? Without satisfying an employee's basic needs first, a manager can never expect the employee to give stellar performance. The basic needs are knowing what is expected of the employee at work, giving him the equipment and to do his work right, and answering him basic questions of self-worth and self-esteem by giving praise for good work and caring about his development as a person. The great manager mantra is don't try to put in what was left out; instead draw out what was left in. You must hire for talent, and hone that talent into outstanding performance. 1.

Know what can be taught, and what requires a natural talent.

2.

Set the right outcomes, not steps. Standardize the end but not the means. As long as the means are within the company's

legal boundaries and industry standards, let the employee use his own style to deliver the result or outcome you want. 3.

Motivate by focusing on strengths, not weaknesses.

4.

Casting is important, if an employee is not performing at excellence, maybe he is not cast in the right role.

5.

Every role is noble, respect it enough to hire for talent to match.

6.

A manager must excel in the art of the interview. See if the candidate's recurring patterns of behavior match the role he is

to fulfill. Ask open-ended questions and let him talk. Listen for specifics. 7.

Find ways to measure, count, and reward outcomes.

8.

Spend time with your best people. Give constant . If you can't spend an hour every quarter talking to an

employee, then you shouldn't be a manager. 9.

There are many ways of alleviating a problem or non-talent. Devise a system; find a complementary partner for

him, or an alternative role. 10.

Do not promote someone until he reaches his level of incompetence; simply offer bigger rewards within the same range of

his work. 11.

Some homework to do: Study the best managers in the company and revise training to incorporate what they know. Send

your talented people to learn new skills or knowledge. Change recruiting practices to hire for talent, revise employee job descriptions and qualifications. Here are some of the best HR practices that help in the creation of a highly satisfied and motivated work force. Work Environment A safe and happy workplace makes the employees feel good about being there. Each one is given importance and provided the security that gives them the motivation and incentive to stay. This is usually achieved through internal surveys to find out whether they are satisfied and if not what they think needs to be changed. Open Management Employees don’t like the feeling of being kept in the dark about what is happening in the company. They feel motivated and develop enthusiasm only when the management opens up to them and discusses the company policies, sales, clients, contracts, goals and objectives. This encourages participative management. Asking them for ideas on how to improve will get their creative juices flowing. Being open about everything related to the company will help in building trust and motivating the employees. This open management policy can be practiced using several tools. Performance Incentives Every good performance is appreciated in the form of a pat on the back, bonuses or giving some other compensation for a job

well done. Organizations that struggle to keep up with the attrition rate are mostly those that think employees are “just” doing their job. Even if it is the employee’s job, completion in an appreciable manner calls for an incentive, and this goes a long way in boosting the staff morale. These incentives can be implemented at the individual as well as the team level and it has been seen that this works wonders in getting the best out of the employees. But it is important to keep in mind that these bonuses should not be given without a reason, unless it is a commitment for annual bonuses or some such thing. Doing so will only reduce the perceived value of the bonuses. Performance This is one the methods that is being followed by many organizations. is not only taken from the boss, but also from other seniors and subordinates. Previously, appreciation was only sought from the immediate boss or the management, but now organizations understand the importance of collecting performance from several quarters. The opinion of everyone matters, especially for someone who is in a leadership role at any level. Each person in the team is responsible for giving constructive . This kind of system helps in identifying people who can perform well as leaders at higher levels in the organization. Even the senior level managers can use this system to their advantage, as a tool to improve themselves. Employee Evaluation Every company has an employee evaluation system in place but a good system links individual performance to the goals and priorities of the organization. This works well when achievements are tracked over a year. For a fair review of each employee, the evaluation, apart from being done by the boss, should be done by another person at a higher level, for whom the employee’s contribution is important. Ratings can also be obtained by other employees. This ensures a fair and accurate rating of each and every employee.

Sharing of Knowledge Knowledge sharing is a wonderful strategy that helps in the betterment of the employees and their work. Keep all the knowledgeable information in central databases that can be accessed by each and every employee. For example, if an employee is sent on some training, the knowledge that is acquired by that employee can be stored in these databases for others to learn from it. Even innovative ideas that the management deems fit for employees to see, can be stored here for all to see. Publicize Good Performances Every company has some employees who outperform others. Such performances should be highlighted and displayed where other employees can look at them; such as on the display boards and intranet etc. This will encourage others to give their best. A proper system should be set up to make a list of high performances at specific times in a year. Discussions Successful organizations nurture ideas and they understand that employees who are actually working and know the business can provide the best ideas. The management should have discussions with employees to get these ideas out of them. There can also be suggestion boxes to capture these ideas. Through this system, managers can find talented employees and develop them. Rewards While recognition of talent is highly important, this recognition has to be made public and what better way than holding ceremonies and announcing to the whole world (the employees), the achievements of a fellow employee. There can be nothing better for an employee than the heady feeling from a resounding applause. The Surprise Factor Who doesn’t like a surprise? Surprise deserving employees – when they are least expecting it. It could be a gift certificate or a small reward of some sort. This surprise doesn’t have to be limited to the best performers, but it can be randomly given to others as a motivating factor too. Anyone can be given this surprise reward. Such healthy HR practices encourage the growth of the organization as employees after all play a major role in the well-being of

a company. Making an employee feel like a million dollars pays in the form of the success of an organization.

W E D N E S D A Y, 1 8 M A Y 2 0 1 1

PROJECT REPORTS FOR MBA Posted by lazy at 23:42 Labels: Project Reports 0 comments

1. A Market research project on Disposable lens (Title will be provided later)

2. A Case Study on Cash Management

These project reports were developed on the bases of rigorous field study. They can be used as reference to develop any new project reports.

Each of these reports is complete with:

1. Certificate Formats - Title, proj certificate, student declaration sample, Acknowledgement sample letter etc.

2. Executive Summary 3. Introduction 4. Research design 5. Analysis 6. Synopsis & conclusions 7. Key findings

8. Recommendations/suggestions 9. Bibliography and Questionnaire