MRIDULA.retention of Employees

June 18, 2018 | Author: mridulakhanna | Category: Employee Retention, Self Actualization, Qualitative Research, Employment, Employee Benefits
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STRATEGIC PLANNINGEMPLOYEE RETENTION POLICIES & JOB SATISFACTION SURVEY ATSubmitted by MRIDULA KHANNA PGDM (2007-09) BUSINESS SCHOOL OF DELHI Page6 Year of Submission 2008 Business School Of Delhi, Greater Noida CERTIFICATE This is to certify that Ms. MRIDULA KHANNA of BUSINESS SCHOOL OF DELHI (2007-09) batch has satisfactorily completed the thesis entitled, “Retention Policies & JOB SATISFACTION SURVEY at Abir Infrastructure”, in partial fulfillment of the requirements for the award of Program in Post Graduate Diploma in Management with specialization in HUMAN RESOURCES and IT of this Institute. Name and Signature of and signature Director internal guide Name of the Date Place Page6 Business School Of Delhi, Greater Noida THESIS APPROVAL SHEET Thesis entitled, “RETENTION POLICIES & Job Satisfaction Survey AT ABIR CONSTRUCTIONS”, by MRIDULA KHANNA is approved for Post Graduate Diploma in Management at BUSINESS SCHOOL OF DELHI. Date Examiners Place Business School Of Delhi, Greater Noida Page6 ACKNOWLEDGEMENT The goals of my eight weeks internship at ABIR were two-fold -- to complement formal education with career-related experience. The completion of this thesis should be attributed to everyone who assisted me with this research endeavor. My Benevolent Sadguru, without whom I would never have had the ability to complete my report. Further would like to thank Mrs. Bindu Sharma, for giving me the opportunity to accomplish my summer internship at ABIR. Special thanks to our placement advisor Mrs. Poonam Sharma. My corporate mentor Mr. I.M. CHAUDHARYVice President (HR), Abir Infrastructures Pvt. Ltd, for his enduring guidance, support and encouragement during the period of my internship at Abir. Then, I would like to thank my internal mentor Mr.Sachin Bhardwaj, for teaching me the subtleties of formatting project report. I would even like to express my gratitude towards all the faculty members at BSD. I, finally would like to thank my family (especially my mom) for their continuous support and for putting up with me throughout the study process. Page6 Business School Of Delhi, Greater Noida Date: Mridula Khanna Place: PGDM (2007-09) ABSTRACT The construction industry in recent times is seen to be highly competitive and dynamic. To remain progressive in such an environment construction companies need to be aggressive in terms of getting business. This is where the Strategic Planning by the HR acts as the pivot. Special technically skilled manpower and project managers having all round knowledge are in short supply. There is 30 per cent shortage of especially skilled workforce. The demand for civil engineers, too, is much more than the available strength. Retaining good employees is critical to a firm's long-term success. Moreover, in the engineering and construction markets, employee retention is especially serious since the job market is tight and competition is fierce for top candidates. When you add the costs of recruiting and training employees, the financial impact alone is staggering. Some studies estimate that losing an employee costs a company 100% of that employee's salary. When reduced efficiency, lower effectiveness, workforce instability and lost productivity are added to the cost to find and train a new employee, the stakes become high. Companies simply cannot afford to ignore employee retention. Hewitt’s Annual Salary Increase Survey, states that India has the highest salary increase of 14% in Asia Pacific over the past year, the attrition rate in the country at 20% is second only to Thailand in the region. Suddenly, ‘yeh dil maange more’ is the catchphrase for employees. Employees today are young, qualified and ambitious, and they do not hesitate moving on to greener pastures. Page6 Business School Of Delhi, Greater Noida Hewitt’s Asia Pacific Attrition Study 2006 cites compensation as a major factor for attrition, but also point out to ‘lack of opportunities’ and ‘work life balance’ as important factors in the IT-ITES sector in India. This thesis addresses the different strategies adopted by Construction companies for employee retention. TABLE OF CONTENTS ACKNOWLEDGMENT…..…………………………………………………..4 ABSTRACT…………………………………………………………………….5 TABLE OF CONTENTS………………………………………………………6 TABLE OF FIGURES…………………………………………………………9 TABLE OF EXHIBITS………………………………………………………..10 TABLE OF APPENDICES……………………………………………………11 Chapter 1INTRODUCTION………………………………………………………………..12 1.1Background……………………………………………………13 1.2Outline of the thesis………………………………………………14 Chapter 2LITERATURE REVIEW…………………………………………………………15 2.1ABIR INFRASTRUCTURE-Company Profile…………………16 2.1.1Future projects………………………………………………….20 2.1.2Organisation structure…………………………………………..21 2.2Overview on Employee Retention………………………………...21 2.2.1Managerial Perspective………………………………………….22 2.2.2Employee Perspective…………………………………………...23 Page6 Business School Of Delhi, Greater Noida 2.3Why People leave Job……. ………………………………………24 2.4Present strategies adopted to retain employees……………………28 2.5Strategies suggested to retain talent………………………………34 Chapter-3 OBJECTIVES & HYPOTHESIS………………………………………………37 3.1Problem Statement…………………………………………38 3.2Research Objectives…………………………………………..38 3.3 Hypothesis…………………………………………………….39 3.4 Limitations…………………………………………………….39 Chapter- 4 RESEARCH METHODOLOGY………………………………………………40 4.1Research Design……………………………………………….41 4.2Data Collection Techniques……………………………………43 4.3A Qualitative Study…………….………………………………43 4.3.2Interview with HR Manager …………………………………43 4.4Quantitative Study………………………………………………43 4.4.1Job Satisfaction Survey (JSS)…………………………………43 4.2Target Respondents………………………………………………43 4.5Souces of Data……………………………………………………43 4.5.1Secondary Data………………………………………………..43 4.5.2Primary Data…………………………………………………..44 4.5.3Sources of Data Used In the Thesis………………………44 DATA ANALYSIS………………………………………………………………..46 Page6 Chapter 5 - Business School Of Delhi, Greater Noida 5.1Job Satisfaction………………………………………………….47 5.2Models of Job Satisfaction………………………………………47 5.3Measuring of Job Satisfaction……………………………………49 5.4Job Satisfaction Survey…………………………………………..50 5.4.1Scoring………………………………………………………….54 5.4.2 Interpretation of scores……………………………………………….56 5.5 Comparison of scores of JSS and 9 sub sets with Levenson’s (1972) norms..57 5.5.1 Comparison of JSS scores with Levenson’s norms………………………..58 5.5.2Comparison of sub-scale PAY with Levenson’s norms……………………59 5.5.3Comparison of sub-scale PROMOTION with Levenson’s norms…………61 5.5.4Comparison of sub- scale SUPERVISION with Levenson’s norms……….63 5.5.5Comparison of sub-scale FRINGE BENEFITS with Levenson’s norms…..65 5.5.6Comparison of sub-scale CONTINGENT REWARDS with Levenson’s norms……………………………………………………..67 5.5.7Comparison of sub-scale OPERATING PROCEDURES with Levenson’s norms………………………………………………………69 5.5.8Comparison of sub-scale NATURE OF WORK with Levenson’s norms.71 5.5.9Comparison of sub-scale COMMUNICATION with Levenson’s norms.73 5.5.10Comparison of sub-scale CO-WORKERS with Levenson’s norms…….75 Chapter 6 CONCLUSION……………………………………………………………………………………77 6.1 Conclusion- inference & Findings………………………………………………..78 Business School Of Delhi, Greater Noida Page6 LIST OF FIGURES FIGURE 1: FIGURE 2: FIGURE 3: FIGURE 4: FIGURE 5: The Outline of the Thesis. Research Design. Organization Structure. Total Rewards. Page6 Hierarchy of Needs (MASLOW). Business School Of Delhi, Greater Noida FIGURE 6: FIGURE 7: FIGURE 8: Retention of Employees Pearls of thought for employee retention Research Design of the Project Report. LIST OF EXHIBITS EXHIBIT 1: EXHIBIT 2: EXHIBIT 3: EXHIBIT 4: EXHIBIT 5: Job Satisfaction Survey Form. JSS Scoring. Distribution of Items in Job Satisfaction Survey. Job Satisfaction Sub-Scales. Levenson’s (1972) JSS norms. Page6 Business School Of Delhi, Greater Noida EXHIBIT 6: EXHIBIT 7: EXHIBIT 8: EXHIBIT 9: EXHIBIT 10: EXHIBIT 11: EXHIBIT 12: EXHIBIT 13: EXHIBIT 14: Tabulated score of Pay Sub-Scale. Tabulated score of Promotion Sub-Scale. Tabulated score of Supervision Sub-Scale. Tabulated score of Fringe benefits Sub-Scale. Tabulated score of Contingent rewards Sub-Scale. Tabulated score of Operating procedures Sub-Scale. Tabulated score of Nature of work Sub-Scale. Tabulated score of Communication Sub-Scale. Tabulated score of Co-workers Sub-Scale. TABLE OF APPENDICES APPENDIX 1: APPENDIX 2: HR Manager Interview Performa Sample JSS forms filled by employees at ABIR. Page6 Business School Of Delhi, Greater Noida Chapter - 1 Page6 INTRODUCTION Business School Of Delhi, Greater Noida The first chapter introduces the thesis. In this chapter, the background to the research problem followed by the outline of the thesis is presented. 1.1 Background 1.2 Outline of the thesis 1.1 BACKGROUND “It is our people who make the difference where it matters most…” (Tesco 2002) “This is a global success story made possible by the quality and determination of over 100,000 people worldwide.” (Vodafone 2002) (Kellogg 2002) Page6 “…we believe that competitive advantage is achieved through our people…” Business School Of Delhi, Greater Noida Employees are important to the competitive success of organizations and yet the role of a business function dedicated to the management of people has never been a glamorous one. Plagued by this manpower crunch DLF, one of the biggest real estate developers in the country, is, in fact, planning to bring back 20,000 Indian laborers from the Middle East to work in its projects. This follows the Reliance Industries’ move of hiring nearly 40,000 Chinese workers to lay its gas pipeline. DLF has started hiring skilled laborers such as carpenters, bar-benders and electricians from China, Indonesia and Philippines. Chinese labor comes at a low cost and is more productive. “Your contribution has been valuable and has determined our success. We believe you have the potential to take this organization to the next level and spearhead our international assignments.”A desperate boss who is trying to retain a deserving employee only utters such words. Sad reality, such level of recognition and acknowledgement is provided only when the person gets an offer from another company. But then again, if timely rewards and recognition were in place, the person would not have chosen to leave, to begin with. Unfortunately, we do not live in a perfect world and doing the right thing at the right time does not seem so obvious to most people! In the best of worlds, employees would love their jobs, like their coworkers, work hard for their employers, get paid well for their work, have ample chances for advancement, and flexible schedules so they could attend to personal or family needs when necessary. And, never leave. But then there's the real world. Moreover, in the real world, employees, do leave, either because they want more money, hate the working conditions, hate their coworkers, want a change, or because their spouse gets a dream job in another state. So, what does that entire turnover cost? Who is likely to stay the longest? 1.2 OUTLINE OF THE THESIS Fig.1.The outline of the thesis will be – Page6 Business School Of Delhi, Greater Noida Chapter -2 LITERATURE REVIEW projects with the company, and organization structure. The second part is concerned with Page6 The literature review consists of five main parts. The first part is about the company profile, new Business School Of Delhi, Greater Noida employee retention including definitions and both employees’ and managerial perspective on it. The third part focuses on the reasons that why people leave jobs. The fourth part discusses the motivation theories and strategies companies use to retain employees. The fifth and final part throws light on strategies that companies can adopt to control attrition rate. 2.1 Abir Infrastructure Limited (Company Profile) 2.1.1Projects at hand 2.1.2Organization Structure 2.2 Overview on Employee Retention 2.2.1Managerial Perspective 2.2.2Employee Perspective 2.3 Why people leave Jobs? 2.4 Present Strategies Adopted to Retain Employees 2.5 Strategies Suggested to Retain Employees 2.1 ABIR INFRASTRUCTURE-COMPANY PROFILE Abir Infrastructure Pvt. Ltd (AIPL) is one of the fastest growing infrastructure developers in India dealing in construction and development of core infrastructure projects incorporated in & established entrepreneurs. Page6 2005.It is a specialized Engineering & Construction Company started by a group of professionals Business School Of Delhi, Greater Noida They are actively engaged in the construction of civil and structural works for hydropower projects including roads, bridges, headrace tunnels, dams, underground powerhouses and other Infrastructure works. They are currently doing hydroelectric power projects in Himachal Pradesh, Sikkim, Arunachal Pradesh and Meghalaya, and thermal power projects in Andhra Pradesh and Chhattisgarh. Abir infrastructure Pvt .Ltd symbolizes strength, solidity, dedication and integrity, Values that the company stands for, and values that are highly appreciated by its customers and business associates. They follow environmentally conscious methods in all their projects and ensure that the ecological balance is not disturbed. Services offered by Abir Constructions      Construction of Hydro Power Plants, Dams, Roads, Bridges, Tunnels. Construction of Real Estate Projects such as Residential, Commercial and retail spaces. Construction of Thermal Power Plants. Design & Engineering Services for the above. Maintenance (Operational) for the above. Business School Of Delhi, Greater Noida Page6 Vision, Mission & Quality Policy Missio HR Initiative To p In Vision Business School Of Delhi, Greater Noida Page6 Abir offers employees an opportunity to work in a professionally managed environment with great growth opportunities. To make the work culture stimulating we ensure responsibility commensurate with authority, excellent training and best in class benefits. We encourage employees to take increased responsibility and challenges, which lead to unconventional opportunities. Training & Development  To encourage need-based learning, Abir has defined learning hours at all levels.  The training works across levels within the organization to ensure uniformity of learning, whether in technical skills or soft skill areas. Outside faculties are arranged to conduct 2-3 day seminars on team building, motivation, stress management etc.  As part of post employment training and development opportunities, a systematic training plan has been formulated wherein employee knowledge sharing sessions are conducted every fortnight by pooling in-house talent.  Employees are regularly sent to attend relevant seminars and conferences to groom them for assuming positions of higher responsibility, as well as specific need-based interventions based on scientific knowledge and experience. Employee Motivation and Welfare Measures  Employee motivational levels are kept high by following non-hierarchical work environment and transparency.  To make the performance appraisal system very fair and just, 360 degree appraisal system is followed where managers and above are assessed by superiors, peers and subordinates to encourage team building and fairness.  To take care of employee grievances a solution club has been formed where employees can freely express their problems/grievances through email, which is kept confidential.   PROJECTS AT HAND Business School Of Delhi, Greater Noida Page6 Name of the Project Name of the Project / Scope of Job 16 MW Patikari HEP situated at Pandoh, Mandi District, Himachal • • Pradesh. 100 MW Malana - II HEP situated at • Malana, Kullu District, Himachal • Pradesh. • Construction of Approach Roads. Civil & Hydro Mechanical Works. Enabling Works including ropeways. EPC of main Civil works. EPC of E & M works. roads, bridges and 1200 MW Teesta - III HEP situated at • Mangan, Sikkim. 5 MW Sainj Hydro Power Project. • Drilling & Boring Holes for Geological Investigations, Survey & taking samples, Diversion works contract. Turn key execution of the Project. Civil Maintenance Works for Gas Based Thermal Power Plant. Expecting orders for developing real estate projects in Gurgaon, Hyderabad, and Visakhapatnam & Chennai. 17.2 Srivathsa Gas Based TPS in • Andhra Pradesh. Real Estate Development. • Abir has achieved a turnover of Rs 840 million in its first full year of operation and has contracts valued more than Rs 200 billion on hand to be executed over the next four years. 2.1.1 FUTURE PROJECTS Future Potential Business School Of Delhi, Greater Noida Page6 Order Book Potential Construction Contracts worth more than Rs. 200 billion in    The next five years from power generation activities. Rs.25billion worth construction activities of the Transmission projects.  Rs. 25 billion worth construction activities from Real Estate development activities. Rs. 13 billion worth of orders from other infrastructure development activities. Growth Strategy Focus on Infrastructure Projects such as Hydel Plants, which includes construction of Electrical Projects and Transmission Lines in India & South Asia.    Currently targeting on emerging opportunities in Real Estate sector in India. Acquiring contracts for other infrastructure works in India & South Asia.  2.1.2 ORGANISATION STRUCTURE Figure.3.organization structure Business School Of Delhi, Greater Noida Page6 Chairman Finance & Accounts HR & Admin . Company Secretary New Projects & Coordination Business & Corporate Development Thermal Division (Hyderabad ) Hydro Division (Gurgaon ) Sr . VP Director Sr. VP President President VP VP VP VP (HR & Admin .) VP VP * A HR Admin . Purchase CDM IT Support staff at various levels Finance & Accounts Support staff at various levels HR & Admin . Engineers at various levels New Projects & Coordination Engineers at various levels Business & Corporate Development 2.2 OVERVIEW ON EMPLOYEE RETENTION By looking in a dictionary we are given that the word “retention” has synonyms like preservation, maintenance, withholding and custody. Not just the meaning, the concept of retention has different perceptions for the employees and organizations. In this part, we strive to look at the issue through the lens of employees and management. Experts believe that, it is usually the middle and junior management employees that leave jobs when it comes to compensation. The fact is that higher attrition is being faced in the junior management cadre as the job market is luring this segment of employees in an endeavor to find the right fit. For most of the younger candidates, experts say that salary is not the key motivator but the job role/profile figures on the top of their priority list. The findings of a study on the availability of skilled manpower in sectors like construction industry, commissioned by the Confederation of Indian Industry (CII), have also confirmed this alarming trend. According to the CII study, many major projects in major industrial belts are being delayed by 12 to 18 months because of non-availability of workers. 2.2.1 MANAGERIAL PERSPECTIVE As most of us heard, it costs less to retain an employee than to replace an existing one. In employee is equal to 30% of his or her salary (Brown and Alleyne).A recent Hewitt 'Attrition Page6 fact, the American Management Association estimates that the cost of replacing an Business School Of Delhi, Greater Noida & Retention' survey shows that 27% of the employees in their EXIT interview mentioned compensation as the primary reason. In fact, “people quit people before they quit companies”. Employees are generally first dissatisfied with their manager and the way the manager deals with the employees, before they find fault with the company. Woodard-Chavez argues that employees might leave the organization for better pay if they are not happy. On the other hand, they will probably stay with the organization even for slightly less pay if they are happy with their work. Those days are gone when salary was the sole motivator for an employee to leave an organization. According to a survey, there are three main reasons that are followed by other common reason: * In equity in compensation * Limited career opportunities * Role stagnation Therefore, it is very challenging task for an HR expert to cope up with this situation and retain talent with an organization. Associated costs with high Attrition Talent loss: * It includes the cost of lost knowledge, skills and contacts that the person who is leaving is taking with them out of your door. Training cost: * It includes the cost of orientation in terms of the new person's salary and the cost of the person * It also consists of the training. Page6 who conducts the orientation. Business School Of Delhi, Greater Noida * Calculate the cost of various training materials needed including company product manuals, computer or other technology equipment used in the delivery of the training. Motivational cost: * It refers to the cost arises because of motivating the other employees to retain them in the organization in terms of increasing their salary and time. Lost Productivity Costs: * As the new employee is learning the new job, the company policies and practices, etc. they are not fully productive. Recruitment cost: * The cost of advertisements; agency costs; employee referral costs; internet posting costs. * Calculate the cost of the manager who has to understand what work remains, and how to cover that work until a replacement is found. * cost of the various candidates pre-employment tests to help assess candidates' skills, abilities, aptitude, attitude, values and behaviors. 2.2.2EMPLOYEE PERSPECTIVE The reason to leave an organization may vary from person to person and from organization to organization. The level of satisfaction/dissatisfaction is also determined by the employees’ belief in how much influence/bearing external factors like superiors, peers, subordinates and luck, fate and/or chance have on their success/failure in the organization. If employees feel that they can determine the path of their careers in the organization, the degree of satisfaction is bound to be higher. Job dissatisfaction poses a threat to the performance of workers and, in turn, to the Page6 performance of an organization as a whole. Business School Of Delhi, Greater Noida If you ask retired professionals what they remember most about their workplace, their answer would probably be a 9-5 routine, work and only work in these eight hours, a pay cheque at the end of every month and a constant struggle to ‘save for a rainy day’. Cut to the present job scenario where a workplace has become more than a place to earn your daily bread. It has, for many, become a second home as you end up spending more time there, than any other place, and have to contribute more, than just what is expected of you. This has led to both employers and employees extending themselves beyond just a 9-5 relationship. Employees, therefore, have high expectations, as far as benefits and remuneration, for the time and the effort they put into their work are concerned. 2.3 WHY PEOPLE LEAVE JOB? Polls of construction companies nationwide have shown that the number one issue facing the industry today is shortages of skilled workers. Construction firms have found it more and more difficult to find qualified, experienced personnel. Ever heard of the famous adage, ‘A rolling stone gathers no moss’? In the corporate context, the adage indicates the importance of being on the constant lookout for a suitable opportunity and shift gears once the opportunity comes knocking. There are numerous reasons for the attrition to be high which can be categorized into two broad classifications. The first, can be coined as “Drive Attrition” which is caused due to the employer; the second one can be termed as “Drag Attrition” which is caused due to the employee. The reasons for Drive Attrition are due to employer’s policy / policies of terminating the employee at the end of the contract period for employment. Drag Attrition is due to the host of insecurities and vulnerabilities associated with the taking up a career with a private company. Generally, Construction companies follow the 6 days model. Employees have strong family commitment with parents or children. A 6-day working model takes a toll on family’s emotional and relational wellbeing. The new people driven economy offers far more options to balance work and home life. It is time that employers take advantage of these flexible options while re-establishing a healthy balance in employees’ personal and professional life. Salary, can be considered as one of the main reasons to quit a job. Maslow's central theme revolves around the meaning and significance of human work. Maslow (1970), is known for establishing the Page6 Business School Of Delhi, Greater Noida theory of a hierarchy of needs, writing that human beings are motivated by unsatisfied needs. A person’s behavior is seen as dominated by his/her unsatisfied needs, and when one need is satisfied he/she aspires for the next higher one. This is, therefore, seen as an ongoing activity, in which one is totally absorbed in order to attain perfection through self-development (Steers and Porter, 1975). According to Maslow (1970), there are general types of needs (physiological, safety, love, and esteem) that must be satisfied before a person can act unselfishly. He called these needs "deficiency needs." As long as we are motivated to satisfy these cravings, we are moving towards growth, toward self-actualization. The five basic human needs, according to Maslow (1970), are: (1) Physiological: hunger, thirst, bodily comforts, etc.; (2) Safety/security: be out of danger; (3) Belongingness and Love: affiliate with others, be accepted; (4) Esteem: to achieve, be competent, gain approval and recognition and (5) Self actualization: to find self-fulfillment and realize one's potential. Figure 4. Hierarchy of Needs, source: MASLOW (1970) NEED LEVEL DESCRIPTION EXAMPLES Business School Of Delhi, Greater Noida Page6 Experts are of the view that people, “Change jobs not just for money but industry potential”. Prakash Gurbaxani believes that those who want to make a mark in life should view the potential in an industry while making a job switchover. Mr.Gurbaxani had a successful 14-year-long stint in the construction business in the US, he decided to come to India to shake off the “construction man” branding, and make a mark in a new industry. The reason why he chose to leave the construction industry was also obvious. “Being in one industry for a while gets a person typecast. In the early 1990s when IBM was looking for a new CEO and appointed Louis Gerstner, the then CEO of tobacco giant RGR Nabisco as its head, it validated my theory that business is business. I thought I’d come back to India, do a few different things, get the construction tag off my back and reposition myself as a global manager,” states Gurbaxani, pointing out that in the US this switchover would have been a very difficult task as he was well established in the construction industry. The number-one reason why contractor executives in construction industry leave their jobs is problems with their immediate supervisor, according to a study by Hornberger Management Page6 Co., a Wilmington, Del.-based construction industry executive search firm. Business School Of Delhi, Greater Noida What is interesting about the survey is that most of its Top 10 reasons for contractor turnover relate to an executive feeling "pushed" away from a bad situation, rather than being "pulled" by a better deal. These include a perceived lack of flexibility toward personal and family issues, fears associated with job security, incompetent leadership, and concerns over the firm's ethics, integrity and values and a perceived lack of recognition and appreciation of the executive's contributions. A better opportunity or more meaningful challenge is the secondmost common reason for turnover, but increased compensation dropped from third place last year to fifth this year. Opportunity for stock ownership dropped from fourth to last. “Poaching” for talents is particularly acute in the information technology and information technology-enabled sectors as well as engineering and construction. Construction work remains a physically strenuous industrial sector, with the highest rate of accident risk: in 2002, an incidence rate 2.3 times higher (90) than the total average (39) was reported. The sector also suffers from a high number of sick leave days (20.5 days per year and worker). This means that construction workers are not only more frequently ill than other workers are, but also that the duration of the illness is longer. Another aspect is the high invalidity rate among construction workers: more than 60% of people retiring in the sector do so because of ill health. Herzberg (1959) constructed a two-dimensional paradigm of factors affecting people's attitudes about work. He concluded that such factors as company policy, supervision, interpersonal relations, working conditions, and salary are hygiene factors rather than motivators. According to the theory, the absence of hygiene factors can create job dissatisfaction, but their presence does not motivate or create satisfaction. Most of the Civil Engineers prefer taking up jobs in the IT sector or accept lucrative assignments. In the Middle East Civil, engineering graduates do not find these jobs lucrative because construction companies do not pay enough and the jobs are also temporary. After a project is finished in one state the company moves to its project in another state leaving the workers behind. In most cases, the workers too do not prefer to shift unless they get good salaries and perks like in the IT companies. The reasons why women engineers leave jobs in engineering at different stages (e.g. dissatisfaction with job contents and work climate; lack of career perspectives; working in a Page6 non-engineering position/field; problems of compatibility of job and family affairs). Business School Of Delhi, Greater Noida The trend of teams moving out as their bosses move out has been quite a fad now -a -days. Many organizations are trying hard against such practices. There are probably two factors that lead such a situation - the current situation in the company and the opportunity outside. If the entire team leaves this is probably a sign of dissatisfaction with the strategy of the firm regarding this particular division. On the other hand, there may be a great opportunity outside the firm to set up a company or a business unit in another firm. Maslow's hierarchy of needs theory has proven that man likes to move on to ‘greener pastures’. Therefore, the organization needs to ask itself whether they are willing to create ‘green pastures’ within the existing company or simply let their employees wander towards ‘greener pastures’. 2.4PRESENT STRATEGIES ADOPTED TO RETAIN TALENT Today’s employee retention policies move beyond “show me the money” There was a time when an employee would just be rewarded for a job well done. Now the organizations have realized that rewarding and appreciating employee boost’s morale and help to excel in future projects. Organizations have found that annual salary increases do not have a significant impact in retaining critical talent. A good mix of offerings including the right kind of roles, career opportunities and investment in employees’ development is a global demand. The construction and manufacturing industries, which have traditionally been conservative about offering hefty salary hikes and have lost out to IT and business process outsourcing in the bargain, is returning with a vengeance, according to the latest survey by Watson Wyatt, a leading human resources consultancy. This year, the manufacturing and engineering industry is expected to offer salary increases of 16 per cent, a percentage point more than the 15 per cent increase expected from IT, ITes and Page6 BPO, 13.5 per cent from insurance and roughly the same as the IT industry. Business School Of Delhi, Greater Noida Even the conservative pharmaceutical industry -- which has been losing people, especially medical representatives, to retail -- said it would increase salaries 15.7 per cent in 2008. Last year, manufacturing salaries went up only 12.5 per cent and pharma only 12 per cent. "Manufacturing growth has matched overall economic growth and the industry has realized that it cannot lose people to other high-growth industries. That's why it is paying more," said Anita Belani, country head, human capital group of Watson Wyatt Worldwide. The survey was based on interviews with over 146 companies in India, including multinational and Indian business houses, and was based on compensation budgets fixed by companies for this year. Overall, the survey shows that salary increases across industries at 14.8 per cent are roughly the same as last year (14.5 per cent). The study also throws up some interesting new trends in terms of talent retention. For instance, cash retention or deferred bonus has overtaken stock options as a popular means of retaining employees. Second, signing bonuses to new employees have caught on, percolating to even clerical and supervisory staff. Companies have also realized that overseas assignments are a strong employee retention tool. Belani said the imposition of the fringe benefit tax has prompted companies to prefer cash options to stock options to retain talent. The attrition rate continues to be a worry through it is not expected to worsen this year. Across industries, it will be around 16.3 per cent, almost the same as last year's 16.5 per cent. To have a high rate of absence as well as employee turnover is very costly for organizations. Having personnel, who are motivated, inspired and diligent, might assist in avoiding such inconveniences. In today's global and increasingly competitive workplace, events have become a Business School Of Delhi, Greater Noida Page6 strategic means in many areas for companies to attract and retain both customers and employees. Corporate special events (CSE), such as New year parties, kick-offs, company celebrations, incentive trips, recognition dinners are one of the strategic tools available to companies that can be used to satisfy the social needs of the employee. CSE also provide an opportunity to communicate corporate policies, strategies and goals to employees, or to enhance the team spirit and the feeling of belonging to the company. There is no secret recipe that will suddenly engage all the employees. Many companies provide excellent work environments, perks and benefits from recreation facilities, multi-cuisine restaurants, fitness centers, crèche facilities, concierge services to maternity and paternity leave, adoption leave, and part-time work. While these are great strategies to keep employees engaged, the real secret goes back to fundamental management practices – know your employees. Car loans can serve can serve two purposes: cars are a status symbol; cars can also be very important due to the nature of one’s job. ABIR INFRASTRUCTURE, adopted a retention policy of car loans, but soon scrapped it. In this policy, the company used to buy cars in the company’s ownership and the employees paid monthly installments at discounts. After 4 years, the employee can get the ownership of the car at a meager sum of Rs. 50000. ESOPs are used in some organizations for increasing employee productivity and controlling turnover. IVRCL INFRASTRUCTURES & PROJECTS LIMITED and ABIR INFRASTRUCTURES provide various benefits to its employees, including allowances for housing, travel assistance, medical benefits and recreational facilities. Enhanced benefits are provided to its employees working at remote project sites. IVRCL have also established an employee stock option scheme, which is open for participation by all of its employees, regardless of rank and seniority. According to one report, popularly adopted flexi time options include the flexi-tour option, where the employee chooses his own starting and stopping time for work and adheres to these timings regularly; gliding schedule, where you can vary your arrival and departure times on a daily basis, under the condition you work 8 hours a day; and the variable day option, where you work a total of 40-48 hours a week, but the number of hours worked each day may vary. Page6 Business School Of Delhi, Greater Noida A deeper investment in developing management capability is a key retention strategy in many companies today. Many studies have shown that one of the top reasons an employee leaves a company is the manager. Encouraging managers to have regular meetings and spend quality time on understanding the employee go above and beyond having the employee update the manager on project status, resources and next steps. At ENERGY INFRATECH, the management looks upon the grievances of the employees by personally interacting with the employees. Retention bonuses are becoming common everywhere; some industries are more likely than others to offer them. Retail/wholesale companies are the most appropriate to implement stay-pay bonuses, followed by financial service providers and manufacturing firms. Companies of all sizes use retention bonus plans to keep knowledge employees retained in the company. This is mainly to retain good employees and provide them a cash incentive to keep them motivated. Even at ABIR INFRASTRUCTURES, employees who complete a tenure of 4 years are given retention bonus. A number of construction companies use well-developed procedures for identifying training needs and career development, in particular Personal Development Reviews linking training needs to business objectives. One firm linked training needs to individual objectives derived from a set of key business performance indicators, such as customer satisfaction, quality of product, competition and safety. Employee Referral Scheme - in several companies employee referral scheme is implemented to encourage employees to refer friends and relatives for employment in the organization. Medi-claim Insurance Scheme; This insurance scheme is to provide adequate insurance coverage of employees for expenses related to hospitalization due to illness, disease or injury or pregnancy in case of female employees or spouse of male employees. All employees and their dependent family members are eligible. Dependent family members include spouse, non-earning parents and children above three months. Business School Of Delhi, Greater Noida Page6 Personal Accident Insurance Scheme; This scheme is to provide adequate insurance coverage for hospitalization expenses arising out of injuries sustained in an accident. This covers total / partial disablement / death due to accident. According to NASSCOM, Hewitt the trend has changed from “Compensation to Total Rewards” refers to the transactional and relational levers provided to employees in exchange of their time, talents, efforts and results. The key levers in the integrated model are stated below: Figure: 5. Total rewards. (Source: HR CONNECT, Feb’07) Benefits Work Experienc e Compensa tion Emplo yee Compensation, Benefits, Work Life, Performance and Recognition Busine ss Satisfac tion & engage ment Performa nce& results Page6 Business School Of Delhi, Greater Noida Knowing the pulse of the employees, firms today lay emphasis on various things like ensuring open communication, providing learning opportunities, ensuring career progression, providing flexi-working hours etc. apart from compensation for employee engagement. Employee engagement by trained managers, total rewards, and competency based learning rather than sporadic training programmes, annual satisfaction surveys, and continuous communication rather than event-based bulletins etc. are strategies adopted by most of the companies. TAVRITA HR CONSULTANCY, Suggested Interventions in the Exit Process as belowFigure 6 –retention of employees. Business School Of Delhi, Greater Noida Page6 ‘‘People need to be engaged and they need to be inspired by what they do,” said Hecht, president of Retensa of New York.” That’s the new standard.”In addition, employees should feel they are part of a team whose work is appreciated, which is why Hecht emphasizes recognition. Providing coaching: Everyone wants to be successful in his or her current job. However, not everyone knows how. Retention coaching when a person expresses his/her intentions to quit and the organization is keen to retain him/her; retention coaching can help retain the valuable employee.‘‘People have lots of choices, so the power is at the consumer level, so employers have to leverage all their talents to increase retention,” said R. Gore Bolton, president and CEO of Bolton & Associates LLC, a La Plata civil engineering firm. 2.5 STRATEGIES SUGGESTED TO RETAIN EMPLOYEES In creating an effective retention program, compensation and benefits are certainly factors in a person's job satisfaction. However, a caring workplace where employees feel valued is critical. Companies have found that the reason employees look is not always the reason they leave. Why do some firms do a better job of retaining employees than others? The key lies in the planning. Companies that establish a clear, definitive strategy for retention will benefit tremendously. Below are some strategies that are invaluable in a retention program. Welcoming an employee into your company may seem like an easy task, but many organizations fail to plan accordingly. Integration must begin before the employee's first day of work. Begin with a welcome letter from a direct supervisor, the owner or other recognized leader. The letter should share the company's vision, culture and outlook for the future, and it also should reaffirm the company's excitement about the hire. In addition, it is ideal to have the employee's workspace furnished, business cards and nametag ordered, office supplies stocked, and any other required tools ready for the first day of work. Provide introductions to existing employees and schedule lunches with a variety of people. Having a buddy system or assigning a mentor to each new employee also is very helpful for easing tension or feelings of nervousness. Page6 Business School Of Delhi, Greater Noida Figure: 7. Pearls of thought for employee retention An open line of a communication between an employee and his or her manager is a critical goal in ensuring employee satisfaction. Managers will benefit from periodic, informal day-to-day discussions with employees in order to understand what challenges they face and what can be done to further enhance their short- or long-term experiences with the organization. Managers who show a willingness to work side-by-side with employees also demonstrate their compassion and commitment to the team's success. Offering assistance with projects creates a feeling of mutual respect and enhances the relationship between manager and employee. Most employees want to grow in their careers. Companies need to work with employees to develop personalized training programs that meet both the developing needs of the individual and the long-term strategies of the company. Keep your employees healthy and happy. Encourage good health and wellness of body, mind, and spirit. You can be creative. Bring in a yoga instructor for morning meditation. Allow for restful breaks. Learn about your employee’s outside interests. Feed their minds with books, magazine subscriptions, and concert or theater tickets. Page6 Business School Of Delhi, Greater Noida Giving extra responsibility to employees is another way to get them engaged with the company. However, just giving the extra responsibility does not help. The manager must spend good time teaching the employees of how to manage responsibilities given to them so that they do not feel over burdened. Team leaders who create motivating environments are likely to keep their team members together for a longer period of time. Motivation does not necessarily have to come through fun events such as parties, celebrations, team outings etc. They can also come through serious events e.g. arranging a talk by VP of Quality on career opportunities in the field of quality. Employees who look forward to these events and are likely to remain more engaged. Recreation is an important as any other tool. It helps in creating a conducive environment – making fun for everyone. Thus, it is necessary to introduce consistent recreation initiatives like Sports, Activities, family get together and unwinding zones at the workplaces. Besides this, cultural programmes and Birthday celebrations break the monotony of everyday work pressure Companies can look at third parties to provide benefits to it employees. The concept of Meal Vouchers has become popular in IT companies. Meal Vouchers are exempted from Fringe benefits Tax for the employer under section 115 WB of Income Tax Act. Employees then use the Meal Vouchers to purchase food and beverages from 15000 affiliated eating joints/outlets spread across 175 locations in India. These eateries in turn send the Meal Vouchers to the service provider like Accor Services for reimbursement. The construction companies should even provide their employees lucrative offers so that they do not leave to find new opportunities in IT companies. Business School Of Delhi, Greater Noida Page6 Chapter -3 OBJECTIVES AND HYPOTHESIS This chapter is followed by a discussion of the research issue. Then the research questions, the objectives, and hypothesis of the study are presented. The chapter is concluded with the delimitations of the research. 3.1 Problem statement 3.2 Research objectives 3.3 Hypothesis 3.4 Limitations Business School Of Delhi, Greater Noida Page6 3.1 PROBLEM STATEMENT The purpose of this research was to identify the employee retention strategies used by Abir Infrastructure and other construction companies in India for retaining human inventory. Also, to determine the job satisfaction level in the employees at ABIR INFRASTRUCTURE. 3.2 RESEARCH OBJECTIVES The purpose of this study is to provide a better understanding of employee retention strategies adopted by construction industry. In order to reach this purpose the following research questions are posed - 1.) The retention strategies adopted by various Indian Construction companies. 2.) Propose strategies that these companies can adopt to get a better solution to this Herculean problem. 3.) To undertake analysis of Job Satisfaction scores of 10 respondents, in term of the nine Job Satisfaction sub-scales, using mathematical tools like Mean and Standard-Deviation. (Though the issues and options analyzed are with respect to Indian service providers, the same may be applied to service providers across the globe as the issues and options remain the same irrespective of place of operation.) Business School Of Delhi, Greater Noida Page6 3.3 HYPOTHESIS The following hypothesis will be investigated H1.When job satisfaction is low, turnover will be high. . H2.When job satisfaction is high, turnover will be low. 3.4 LIMITATIONS The primary instrument of data collection was the Job Satisfaction Questionnaires, sent to respondents. Two of the most important weaknesses is the low response rate and hence the limited inferential power of the conclusions drawn from the result. In depth interviews was even one of the data collection tool, the limitations could be due to certain biases, which exist in individual’s mind towards a particular aspect of an industry or a company based on his/her experiences. The research was conducted within a limited duration. So a detailed and comprehensive study could not be made. Low response of the respondents due to factors like transfer on site places and small organization size(with 20 employees). Business School Of Delhi, Greater Noida Page6 Chapter-4 METHODOLOGY The term methodology refers to the way in which we approach problems and seek answers (Taylor and Bodgan, 1998); it applies to how research is conducted. Our assumptions, interests, and purposes shape which methodology we choose. This chapter covers the process through which this research was carried out. It describes and discusses steps taken and methods used in my thesis. The research conducted was based on the objectives stated in chapter 3. 4.1 Research Design 4.2 Data Collection Tools 4.3 A Qualitative Research 4.3.1Interview with HR Managers 4.4 A Quantitative Research 4.4.1 Job Satisfaction Survey 4.4.2Target Respondents 4.5 Sources of Data 4.5.1Secondary Data 4.5.2Primary Data 4.5.3 Sources of Data used in the Thesis Page6 Business School Of Delhi, Greater Noida 4.1 RESEARCH DESIGN Figure: 8, depicts the research design adopted for undertaking the report. RESEARCH OBJECTIVES QUANTITATIVE RESEARCH QUALITATIVE RESEARCH QUESTIONNAI RE INTERVIEWIN G HR MANAGER ANALYSIS & CONCLUSION Business School Of Delhi, Greater Noida Page6 The following data collection was undertaken for this project- 4.2 DATA COLLECTION TECHNIQUES Data collection is generally split into two different methodological approaches- quantitative and qualitative methodology. 4.3 A QUALITATIVE STUDY Qualitative methodology refers in its broadest sense to research that produces descriptive data people’s own written or spoken words and observable behavior (Taylor and Bogdan, 1998), for instance interviewing and talking with key target people (Pyke, 2003), and it deals with explanatory concepts (Robson and Foster, 1989). Qualitative techniques concentrate less on quantifiable measures, and look at, for example, the reasons "why" someone may approve or disapprove, or like or dislike an initiative taken by an organization (Sang, 2003). Qualitative data analysis is a process of piecing together data, of making the invisible obvious (Morse, 1994).The answers given in qualitative interview therefore often give a more actual picture of reality and deeper understanding of the subject studied. 4.3.1 INTERVIEW WITH HR MANAGER Robson and Foster (1989) suggest that interviews provide opportunity to listen, observe, question freely and interpret the individual’s behavior. An interview was conducted with the HR manager at ABIR CONSTRUCTIONS & ENERGY INFRATECH. The Performa for this interview is provided in Appendix 1. Page6 Business School Of Delhi, Greater Noida 4.4 QUANTITATIVE STUDY The emphasis of Quantitative research is on collecting and analyzing numerical data; it concentrates on measuring the scale, range, frequency etc. of phenomena. This type of research, although harder to design initially, is usually highly detailed and structured and results can be easily collated and presented statistically. Quantitative data collection techniques are formalized and structured. However, quantitative data can only tell us where we are, not why, because feelings and attitudes cannot be expressed. 4.4.1JOB SATISFACTION SURVEY To carry out the quantitative or conclusive research a statistical analysis method has been adopted. A statistical method is a method usually referred to when a survey is conducted. For this research Job Satisfaction Survey (JSS) has been used to collect data. 4.4.2TARGET RESPONDENTS The target respondents comprise of 10 respondents who have been chosen randomly from the Executive and Managerial level at ABIR INFRASTRUCTURES. The respondents were asked to fill the JOB SATISFACTION SURVEY. 4.5 SOURCES OF DATA There are two fundamental categories of data available: primary data and secondary data. 4.5.1 SECONDARY DATA purpose. Examples of secondary data are books, research reports, and articles. Secondary data Page6 Secondary data has been collected prior to the specific research by someone else for some other Business School Of Delhi, Greater Noida can be divided into external data and internal data. Internal data originates from inside an organization, e.g. HR manuals, leaflets, annual reports etc. External data is the information gathered from outside the organization like- articles, books etc. 4.5.2 PRIMARY DATA Primary data is the information gained from original sources that have been collected for a specific research question and that is used for the first time. Consequently primary data is collected by the researchers and has not been gathered for some other purpose. Examples of such sources can be interviews or observations. 4.5.3 SOURCES OF DATA USED IN THE THESIS In my thesis, I have used both secondary and primary data. Primary data This thesis is based on primary data collected during face- to –face interviews with HR managers of Abir infrastructure and Energy Infratech. Even questionnaires of Job Satisfaction Survey were got filled by randomly selected respondents. Moreover, the questionnaires to the respondents were also sent and answered through e-mails. To carry out the quantitative or conclusive research a statistical analysis method has been adopted. A statistical method is a method usually referred to when a survey is conducted. For this research, Job Satisfaction Survey (JSS) has been used to collect data. Business School Of Delhi, Greater Noida Page6 Secondary data The secondary data used in this thesis is different books and articles dealing with Retention and related subjects. The company’s website, internet, HR manuals, annual reports have been used. ` Business School Of Delhi, Greater Noida Page6 Chapter-5 DATA ANALYSIS This chapter will analyze and discuss the findings that are presented earlier in the Literature Review chapter and connect them to the theory and opinions. The conclusions that have been drawn by the interpretation of the Job Satisfaction Survey scores of 10 respondents, in terms of nine Job Satisfaction sub–scales, using mathematical tools like Mean and Standard Deviation will be presented in accordance with the purpose of the thesis. 5.1 Job Satisfaction 5.2 Models of Job Satisfaction 5.3 Measuring Job Satisfaction 5.4 Job Satisfaction Survey 5.4.1 Scoring 5.4.2 Interpretation of scores 5.5 Comparison of scores of JSS and 9 sub sets with Levenson’s (1972) norms 5.5.1 Comparison of JSS scores with Levenson’s norms 5.5.2Comparison of sub-scale PAY with Levenson’s norms 5.5.3Comparison of sub-scale PROMOTION with Levenson’s norms 5.5.4Comparison of sub- scale SUPERVISION with Levenson’s norms 5.5.5Comparison of sub-scale FRINGE BENEFITS with Levenson’s norms 5.5.6Comparison of sub-scale CONTINGENT REWARDS with Levenson’s norms 5.5.7Comparison of sub-scale OPERATING PROCEDURES with Levenson’s norms 5.5.8Comparison of sub-scale NATURE OF WORK with Levenson’s norms 5.5.9Comparison of sub-scale COMMUNICATION with Levenson’s norms Page6 5.5.10Comparison of sub-scale CO-WORKERS with Levenson’s norms Business School Of Delhi, Greater Noida 5.1 JOB SATISFACTION Nature of work and the state-of-mind of an individual have intrigued behavioral scientists, psychologists, researchers and practitioners since time immemorial. Relationship with one’s superiors, peers, colleagues & subordinates, working conditions in the organization, and degree of fulfillment that the individual derives from her/his work, have all been found to have a correlation with job satisfaction. The positive/negative reaction to one’s jobs can thus be termed as Job Satisfaction/Dissatisfaction. JOB SATISFACTION is a rather complex construct fraught with many definitions. Job satisfaction can be defined as the “extent to which a person derives pleasure from a job” (Muchinsky, 1993, p. 290) or “as a pleasurable or positive emotional state resulting from the appraisal of one’s job” (Friday & Friday, 2003 as cited in Locke, 1969). One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School, sought to find the effects of various conditions (most notably illumination) on workers’ productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction. 5.2 Models of job satisfaction Affect Theory Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous job satisfaction model. The main premise of this theory is that satisfaction is determined by a discrepancy between what one wants in a job and what one has in a job. Further, the theory states that how how satisfied/dissatisfied one becomes when expectations are/aren’t met. When a person values Page6 much one values a given facet of work (e.g. the degree of autonomy in a position) moderates Business School Of Delhi, Greater Noida a particular facet of a job, his satisfaction is more greatly impacted both positively (when expectations are met) and negatively (when expectations are not met), compared to one who doesn’t value that facet. To illustrate, if Employee A 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 and less satisfied in a position with little or no autonomy compared to Employee B. This theory also states that too much of a particular facet will produce stronger feelings of dissatisfaction the more a worker values that facet. Dispositional Theory Another well-known job satisfaction theory is the Dispositional Theory. It is a very general theory that suggests that people have innate dispositions that cause them to have tendencies toward a certain level of satisfaction, regardless of one’s job. This approach became a notable explanation of job satisfaction in light of evidence that job satisfaction tends to be stable over time and across careers and jobs. Research also indicates that identical twins have similar levels of job satisfaction. A significant model that narrowed the scope of the Dispositional Theory was the Core Selfevaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there are four Core Self-evaluations that determine one’s disposition towards job satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher levels of self-esteem (the value one places on his self) and general self-efficacy (the belief in one’s own competence) lead to higher work satisfaction. Having an internal locus of control (believing one has control over her\his own life, as opposed to outside forces having control) leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction. Two-Factor Theory (Motivator-Hygiene Theory) Frederick Herzberg’s Two factor theory (also known as Motivator Hygiene Theory) attempts to explain satisfaction and motivation in the workplace. This theory states that satisfaction and dissatisfaction are driven by different factors – motivation and hygiene factors, respectively. people with satisfaction, for example achievement in work, recognition, promotion opportunities. Page6 Motivating factors are those aspects of the job that make people want to perform, and provide Business School Of Delhi, Greater Noida These motivating factors are considered to be intrinsic to the job, or the work carried out. Hygiene factors include aspects of the working environment such as pay, company policies, supervisory practices, and other working conditions. While Hertzberg's model has stimulated much research, researchers have been unable to reliably empirically prove the model, with Hack man & Oldham suggesting that Hertzberg's original formulation of the model may have been a methodological artifact. Furthermore, the theory does not consider individual differences, conversely predicting all employees 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/hygiene factors are to be measured. 5.3 Measuring job satisfaction There are many methods for measuring job 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, checklists, and forced choice answers. This data is typically collected using an Enterprise Feedback Management (EFM) system. The Job Descriptive Index (JDI), created by Smith, Kendall, & Hulin (1969), is a specific questionnaire of job satisfaction that has been widely used. It measures one’s satisfaction in five facets: pay, promotions and promotion opportunities, coworkers, supervision, and the work itself. The scale is simple, participants answer either yes, no, or can’t decide (indicated by ‘?’) in response to whether given statements accurately describe one’s job. The Job in General Index is an overall measurement of job satisfaction. It is an improvement to the Job Descriptive Index because the JDI focuses too much on individual facets and not enough on work satisfaction in general. On the next page Job Satisfaction Survey is shown in Exhibit. Other job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire satisfaction in 20 facets and has a long form with 100 questions (five items from each facet) and Page6 (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The MSQ measures job Business School Of Delhi, Greater Noida a short form with 20 questions (one item from each facet. Finally, the Faces Scale of job satisfaction, one of the first scales used widely, measured overall job satisfaction with just one item which participants respond to by choosing a face. 5.4 JOB SATISFACTION SURVEY The JOB SATISFACTION SURVEY is developed by Paul E. Spector. The Job Satisfaction Survey, JSS is a 36 item, nine facet scales to assess employee attitudes about the job and aspects of the job. Paul E.Spector has devised a method to measure job satisfaction. It is called the job satisfaction survey (JSS). It recognizes nine facets of job satisfaction and they are measured in the survey. The different facets are: 1) Pay: remuneration, equity of salary. 2) Promotion: opportunity for promotion in an organization. 3) Supervision: effectiveness of immediate supervisor. 4) Benefits: monetary and non monetary fringe benefits. 5) Contingent rewards: rewards and recognition for good work. 6) Operating procedures: policies and procedure of an organization. 7) Coworkers: colleagues in one’s work area. 8) Nature of job: tasks in a job itself. 9) Communication: information flow within the organization. Business School Of Delhi, Greater Noida Page6 Under each of the above facets four items are assessed and a total summation of score is computed. Each of them are rated using a six scale format ranging from strongly disagree to strongly agree. Each facet is assessed with four items, and a total score is computed from all items. A summated rating scale format is used, with six choices per item ranging from "strongly disagree" to "strongly agree". Items are written in both directions, so about half must be reverse scored. Although the JSS was originally developed for use in human service organizations, it is applicable to all organizations. Exhibit: 1. JSS, is given on the next page. Business School Of Delhi, Greater Noida Page6 JOB SATISFACTION SURVEY Disagree very much Disagree moderately Disagree slightly Agree slightly Agree moderately Agree very much PLEASE CIRCLE THE ONE NUMBER FOR EACH QUESTION THAT COMES CLOSEST TO REFLECTING YOUR OPINION ABOUT IT. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 I feel I am being paid a fair amount for the work I do. There is really too little chance for promotion on my job. My supervisor is quite competent in doing his/her job. I am not satisfied with the benefits I receive. When I do a good job, I receive the recognition for it that I should receive. Many of our rules and procedures make doing a good job difficult. I like the people I work with. I sometimes feel my job is meaningless. Communications seem good within this organization. Raises are too few and far between. Those who do well on the job stand a fair chance of being promoted. My supervisor is unfair to me. The benefits we receive are as good as most other organizations offer. I do not feel that the work I do is appreciated. My efforts to do a good job are seldom blocked by red tape. I find I have to work harder at my job because of the incompetence of people I work with. I like doing the things I do at work. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 3 4 3 4 3 4 5 5 5 5 5 5 6 6 6 6 6 6 3 4 3 4 3 4 2 3 4 5 6 2 3 4 5 6 2 2 2 2 2 2 2 2 2 3 4 5 5 5 5 5 5 5 5 5 6 6 6 6 6 6 6 6 6 3 4 3 4 3 4 3 4 3 4 3 4 3 4 3 4 Business School Of Delhi, Greater Noida Page6 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 The goals of this organization are not clear to me. I feel unappreciated by the organization when I think about what they pay me. People get ahead as fast here as they do in other places. My supervisor shows too little interest in the feelings of subordinates. The benefit package we have is equitable. There are few rewards for those who work here. I have too much to do at work. I enjoy my coworkers. I often feel that I do not know what is going on with the organization. I feel a sense of pride in doing my job. I feel satisfied with my chances for salary increases. There are benefits we do not have which we should have. I like my supervisor. I have too much paperwork. I don't feel my efforts are rewarded the way they should be. I am satisfied with my chances for promotion. There is too much bickering and fighting at work. My job is enjoyable. Work assignments are not fully explained. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 3 4 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 4 5 5 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 6 4 5 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 Business School Of Delhi, Greater Noida Page6 5.4.1 SCORING 1. The respondents are asked to fill in their responses on the basis of a six point Agree- Disagree Likert11 Scale (Summated Rating Scale). The scale is given below – 1 = Disagree Very Much 4 = Agree Slightly 2 = Disagree Moderately 5 = Agree Moderately 3 = Disagree Slightly 6 = Agree Very Much 2. Out of the 36 items in the Job Satisfaction Survey, 17 items are in a positively worded direction and the rest are in a negatively worded direction. Every item reflects an evaluative statement. If an individual agrees with an item, it reflects a positive or negative attitude about the job. 3. The negatively worded items are 2, 4, 6, 8, 10, 12, 14, 16, 18, 19, 21, 23, 24, 26, 29, 31, 32, 34 and 36. These negatively worded items are reverse scored and added to the scores of the positively worded items. Only this way the total job satisfaction score can be calculated correctly. For example, if an individual gives a score of ‘6’ (agreeing very much) on a negatively worded item, this score will be equivalent to a score of ‘1’, which represents strongest disagreement on a positively worded item in the job satisfaction survey. In Diagram ., the column on the left contains the original score, while that on the right contains the reverse score. Exhibit:2 .JSS Scoring 1=6 2=5 3=4 4=3 5=2 6=1 Say for instance, an individual has given a score of ‘2’ responding to item number ‘10’, this should be reverse-scored and taken as ‘5’. Page6 Business School Of Delhi, Greater Noida 3. Each item in the job satisfaction survey is a part of one of the nine job satisfaction subscales. Each sub-scale includes four items. Exhibit:3, depicts the division of all the 36 items in the job satisfaction survey. Exhibit:3 Distribution of Items in Job Satisfaction Survey Pay Promotion Supervision Fringe benefits Contingent rewards Operating procedures Co-workers Nature of work Communication Sub-scale Item Numbers 1 10 19 2 11 20 3 12 21 4 13 22 5 14 23 6 15 24 7 16 25 8 17 27 9 18 26 28 33 30 29 32 31 34 35 36 5. An individual can score a maximum score of ‘24’ on each of the nine facet sub-scales, if s(he) gives a score of ‘6’ on each of the four items in a particular sub-scale. Similarly, a respondent can score a total minimum score of ‘4’ on each of the nine sub-scales, if s(he) gives a score of ‘1’ on each of the four items in a particular sub-scale. This means that scores on each of these sub-scales can range between 4 and 24. 6. The total score on the job satisfaction survey can range from 36 to 216. This is because an individual can give a maximum score of ‘6’ on each of the ‘36’ items in the Job Satisfaction Survey, resulting in a maximum possible total score of ‘216’. Similarly, an individual can give a minimum score of ‘1’ on each of the items in the JSS, leading to a minimum possible JSS score of ‘36’. 7. To convert the total score on the job satisfaction survey into a 100-point scale, the score is multiplied by 0.46. Business School Of Delhi, Greater Noida Page6 The nine facets of the Job Satisfaction Scale and their description are given in Exhibit:4 Exhibit:4,Job Satisfaction Sub-Scales S. No. 1. Pay 2. Promotion 3. Supervision 4. Fringe benefits 5. Contingent rewards 6. Operating procedures 7. Co-workers 8. Nature of work 9. Communication Sub-Scale Description Pay and remuneration Promotion opportunities Immediate supervisor Monetary and non monetary fringe benefits Performance based rewards, appreciation, recognition Operating policies and procedures People you work with Job tasks themselves Communication within the organization 5.4.2 1. INTERPRETATION OF SCORES A high score on the job satisfaction survey will represent a high degree of job satisfaction. However, to interpret the level of job satisfaction accurately, the Mean of all the JSS scores obtained from the 10 respondents at ABIR INFRASTRUCTURE is calculated. 2. There are nine sub-scales in the job satisfaction survey. Four items represent each subscale. The total of these four items in each sub-scale for every respondent is calculated individually. Then, the scores so obtained for each sub-scale (from 10 respondents) is totaled to calculate the Mean. The Mean is then compared with the norms suggested by Levenson (1972). The following interpretation can be done after comparison of the Mean with the norms – a high level of satisfaction on that scale. Page6 a. If Mean is higher than the norm in a particular scale; the respondents exhibit Business School Of Delhi, Greater Noida b.. c. If the Mean is lower than the norm in a particular scale, the respondents exhibit a low level of satisfaction on that scale. If the Mean falls within the range, Mean plus ½SD and Mean minus ½SD, then the respondents exhibit an acceptable level of satisfaction on that scale. 5.5 COMPARISON OF SCORES ON JOB SATISFACTION SURVEY & ITS 9 SUBSCALES WITH LEVENSON’S (1972) NORMS EXHIBIT 5 LEVENSON’S (1972) JOB SATISFACTION SURVEY NORMS Sub-scale Pay Promotion Supervision Fringe benefits Contingent rewards Operating procedures Co-workers Nature of work Communication Total satisfaction Mean 10.5 11.5 19.9 13.1 13.4 12.5 18.8 19.2 14.0 133.1 StandardDevia tion 5.1 5.1 4.6 5.0 5.1 4.6 3.7 4.4 5.0 27.9 Business School Of Delhi, Greater Noida Page6 5.5.1 COMPARISON OF JSS SCORES WITH LEVENSON’S (1972) NORMS Comparison & analysis As per the calculation of the total job satisfaction score and the Mean, the following results were derived – Total Satisfaction Score = 727.72 Mean = 72.77 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for total satisfaction – Mean Norm = 133.1 Standard Deviation Norm = 27.9 The total satisfaction Mean of all the 10 respondents is compared with the norms suggested by Levenson (1972). According to the norms, a deviation of –13.95 to +13.95 is acceptable. Since the Mean (72.7) does not fall within the range, Mean minus ½SD (119.15) and Mean plus ½SD (147.05). The respondents seem to be slightly dissatisfied. However, the detailed analysis of subsets will provide a clearer picture of satisfaction level of employees at ABIR INFRASTRUCTURE. Business School Of Delhi, Greater Noida Page6 5.5.2 COMPARISON OF SUB-SCALE PAY WITH LEVENSON’S (1972) NORMS Comparison & analysis EXHIBI T 6-Tabulation of Pay Sub-Scale S. No. 1 2 3 4 5 6 7 8 9 10 Item 1 Item 10 6 3 4 2 2 3 6 3 3 2 Item 19 6 4 3 2 3 4 6 2 4 2 Ite m 28 6 5 1 4 5 5 6 5 1 5 TOTAL 150 MEAN 15.0 Total 6 3 3 5 2 3 6 2 3 4 24 15 11 13 12 15 24 12 11 13 As per the calculation of the pay sub-scale score and the Mean the following results were derived Business School Of Delhi, Greater Noida Page6 Pay Score = 150 Mean = 15 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Pay – Mean Norm = 10.50 Standard Deviation Norm = 5.10 The pay Mean of the 10 respondents is compared with the norms suggested by Levenson (1972). According to the norms, a deviation of –2.55 to +2.55 is acceptable. Since the pay Mean (14.70) does not fall within the range, Mean minus ½SD (7.95) and Mean plus ½SD (13.05), it is higher than the upper limit of the range. The sample size, therefore exhibits a higher level of job satisfaction in terms of pay and remuneration, when compared with the norms. A majority of respondents feel they are paid a fair amount of for the work they do. Business School Of Delhi, Greater Noida Page6 5.5.3 COMPARISON OF SUB SCALE PROMOTION WITH LEVENSON’S NORMS Comparison & analysis S. No. 1 2 3 4 5 6 7 8 9 10 Item 1 Item 10 6 6 6 5 5 4 4 6 4 4 6 6 6 3 6 6 TOTAL 186 MEAN 18.6 Item 19 6 6 4 3 Ite m 28 4 4 6 3 3 6 6 5 6 6 Total EXHIBIT 7TABULATED SCORE OF PROMOTION 6 5 3 2 4 5 6 4 3 4 22 21 25 13 18 21 22 18 25 22 As per the calculation of the promotion sub-scale score and the Mean the following results were derived Promotion Score = 186 Page6 Business School Of Delhi, Greater Noida Mean = 18.6 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Promotion – Mean Norm = 11.50 Standard Deviation Norm = 5.10 According to the norms, a deviation of –2.55 to +2.55 is acceptable. Since the promotion mean (18.2) does not fall within the range mean minus ½SD (8.95) and mean plus ½SD (14.05). It exhibits a higher level of job satisfaction in terms of promotion, when compared with Levenson’s norms. A majority of respondents feel that people get ahead in organizations, as they do in other places. The respondents feel there are ample chances of promotion. Business School Of Delhi, Greater Noida Page6 S. No. 1 2 3 4 5 6 7 8 9 10 5.5.4 COMPARISON OF SUB SCALE SUPERVISION WITH LEVENSON’S (1972) NORMS Item 3 Item 12 6 6 6 5 6 5 6 5 6 6 6 3 6 6 4 6 TOTAL 214 MEAN 21.4 Item 21 6 3 4 6 Ite m 30 Total Comparison & analysis 24 17 22 22 22 17 24 22 22 22 EXHIBIT8TABULATED SCORE OF SUPERVISION 6 5 6 6 5 3 6 5 6 5 6 3 6 5 5 6 6 6 6 5 Business School Of Delhi, Greater Noida Page6 As per the calculation of the supervision sub-scale score and the Mean the following results were derived – Supervision Score = 214 Mean = 21.4 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Supervision – Mean Norm = 19.90 Standard Deviation Norm = 4.60 The supervision mean of the respondents is compared with Levenson’s norms. According to the norms, a deviation of–2.30 to+2.30 is acceptable. Since the supervision mean (21.4), falls within the range mean minus ½SD (17.60) and mean plus ½SD (22.20). It exhibits an acceptable level of satisfaction in terms of immediate supervisor, when compared with the norms. The respondents feel that their supervisors are fully competent in doing his/her work. Business School Of Delhi, Greater Noida Page6 5.5.5 COMPARISON OF SUB SCALE FRINGE BENEFITS WITH LEVENSON’S NORMS Comparison & analysis EXHIBIT 9- TABULATED SCORE OF FRINGE BENEFITS Business School Of Delhi, Greater Noida Page6 S. No. 1 2 3 4 5 6 7 8 9 10 Item 4 Item 13 6 4 4 5 5 3 3 4 6 5 Item 22 6 5 5 3 5 5 6 5 4 5 Ite m 29 4 3 3 4 5 4 6 5 3 3 TOTAL 168 MEAN 16.8 Total 3 3 3 5 4 3 4 3 3 4 19 15 16 17 17 15 19 17 16 17 As fringe per the calculation of the benefits score sub-scale and the Mean the following results were derived – Fringe benefits Score = 168 Mean = 16.8 Business School Of Delhi, Greater Noida Page6 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Fringe benefits – Mean Norm = 13.10 Standard Deviation Norm = 5.00 The fringe benefits mean of the respondents is compared with the norms suggested by Levenson (1972). According to the norms, a deviation of –2.50 to +2.50 is acceptable. Since the fringe benefit mean (16.8),does not fall within the range mean minus ½SD (10.60) and mean plus ½SD (15.60). Therefore, the sample size, exhibits a greater level of satisfaction, in terms of monetary and non- monetary fringe benefits, when compared with the norms. The respondents feel that the benefits they get are as good as most other organizations offer. Business School Of Delhi, Greater Noida Page6 5.5.6 COMPARISON OF SUB SCALE CONTINGENT REWARDS WITH LEVENSON’S (1972) NORMS Comparison & analysis EXHIBIT 10- TABULATED SCORE OF CONTINGENT REWARDS Item 5 6 5 6 3 2 4 6 2 6 3 Item 14 6 6 6 5 3 6 2 4 5 3 4 4 6 2 4 6 TOTAL 150 MEAN 15.0 Item 23 3 3 3 4 Item 32 1 2 3 2 2 2 2 3 3 2 Total 16 16 18 14 11 16 16 11 18 14 S. No. 1 2 3 4 5 6 7 8 9 10 As derived – Contingent rewards Score =150 Mean = 15.0 per the calculation of the contingent rewards sub-scale score and the Mean the following results were Business School Of Delhi, Greater Noida Page6 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Contingent rewards – Mean Norm = 13.40 Standard Deviation Norm = 5.10 The contingent rewards mean of the respondents is compared with Levenson’s (1972) norms. According to the norms, a deviation of –2.55 to + 2.55 is acceptable. Since, the contingent rewards mean (15) falls within range mean minus ½SD (10.85) and mean plus ½SD (15.95). The respondents exhibit an acceptable level of satisfaction in terms of appreciation, recognition, and rewards for good work, when compared with the norms. Majority of respondents feel that when they do a good job, they receive the recognition that they deserve and feel appreciated for the work they do. The respondents also seem to feel that there are sufficient rewards for those who work in the organization and that their efforts are rewarded. Business School Of Delhi, Greater Noida Page6 5.5.7 COMPARISON OF SUB SCALE OPERATING PROCEDURES WITH LEVENSON’S (1972) NORMS Comparison & analysis EXHIBIT11- TABULATED SCORE OF OPERATING PROCEDURES S. No. 1 2 3 4 5 6 7 8 9 10 Item 6 4 4 6 4 6 2 1 6 6 5 Item 15 1 5 4 4 2 5 1 2 4 4 Item 24 1 2 2 5 2 4 4 2 2 4 Item 31 2 4 4 2 2 4 2 2 4 2 TOTAL 132 MEAN 13.2 Total 8 15 16 15 12 15 8 12 16 15 As per the calculation of the operating procedures sub-scale score and the Mean the following results were derived – Operating procedures Score =132 Mean = 13.2 Page6 Business School Of Delhi, Greater Noida As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Operating procedures– Mean Norm = 12.50 Standard Deviation Norm = 4.60 The operating conditions Mean of the 10 respondents is compared with the norms suggested by Levenson (1972). According to the norms, a deviation of –2.30 to +2.30 is acceptable. Since, the operating procedures mean (13.2), falls within the range mean minus ½SD (10.20) and mean plus ½SD (14.80), it is an acceptable level of satisfaction on the operating conditions sub-scale. This exhibits that the respondents feel that rules and regulations in the organization do not act as a hindrance in performing their jobs. They also feel that their efforts to do a good job are very rarely blocked by red tape and the work that they are assigned is well within their capacities. Business School Of Delhi, Greater Noida Page6 5.5.8 COMPARISON OF SUB-SCALE NATURE OF WORK WITH LEVENSON’S (1972) NORMS Comparison & analysis EXHIBIT 12- TABULATED SCORE OF NATURE OF WORK S. No. 1 2 3 4 5 6 7 8 9 10 Item 8 6 4 4 2 6 4 6 5 3 3 Item 17 6 6 6 5 5 5 6 6 6 6 Item 27 6 5 5 5 4 6 6 5 6 5 Item 35 6 5 5 5 5 5 6 4 5 3 TOTAL 132 MEAN 13.2 Total 24 20 20 17 20 20 24 20 20 17 As per the calculation of the nature of work sub-scale score and the Mean the following results were derived – Nature of work Score =202 Mean = 20.2 Page6 Business School Of Delhi, Greater Noida As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for Nature of work procedures– Mean Norm = 19.20 Standard Deviation Norm = 4.40 The nature of work mean of all the 10 respondents is compared with the norms suggested by Levenson (1972). According to the norms, a deviation of –2.20 to +2.20 is acceptable. Since, the operating procedures mean (20.2), falls within the range mean minus ½SD (17) and mean plus ½SD (21.40), it is an acceptable level of satisfaction on the nature of work conditions sub-scale. This shows that the employees like doing the things they do at work. Business School Of Delhi, Greater Noida Page6 5.5.9 COMPARISON OF SUB-SCALE COMMUNIATION WITH LEVENSON’S (1972) NORMS Comparison & analysis EXHIBIT 13- TABULATED SCORE OF COMMUNICATION S. No. 1 2 3 4 5 6 7 8 9 10 Item 9 6 5 5 5 3 4 5 4 4 6 Item 18 6 6 6 5 6 4 5 6 5 6 Item 26 6 3 3 2 2 6 5 5 3 2 Item 36 6 6 6 5 6 6 5 6 6 5 TOTAL 196 MEAN 19.6 Total 24 20 20 17 17 20 20 21 18 19 As derived – Communication Score =196 Mean = 19.6 per the calculation of the communication sub-scale score and the Mean the following results were Business School Of Delhi, Greater Noida Page6 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for– Mean Norm = 14 Standard Deviation Norm = 5 The communication mean of the respondents is compared with norms of Levenson (1972). According to the norms, a deviation of –2.50 to +2.50 is acceptable. Since, the communication mean (20.2), does not fall within the range mean minus ½SD (11.50) and mean plus ½SD (16.50), it exhibits a higher level of satisfaction. A majority of employees have a clear understanding of goals in the organization. The information flow is smooth in the organization. Business School Of Delhi, Greater Noida Page6 5.5.10 COMPARISON OF SUB-SCALE CO- WORKERS WITH LEVENSON’S (1972) NORMS S. No. 1 2 3 4 5 6 7 8 9 10 Item 7 6 6 6 5 5 4 6 5 6 5 Item 16 6 1 1 6 5 6 6 5 1 6 5 1 6 5 6 5 TOTAL 204 MEAN 20.4 Item 25 6 4 6 5 Item 34 6 6 6 5 6 6 6 1 6 5 Total 24 17 19 21 21 17 24 21 19 21 Comparison & analysis EXHIBIT 14TABULATED SCORE OF COWORKERS derived – Business School Of Delhi, Greater Noida Page6 As per the calculation of the co-workers sub-scale score and the Mean the following results were Co-workers Score =204 Mean = 20.4 As per the norms suggested by Levenson (1972), following are the norms for the Mean and Standard Deviation for– Mean Norm = 18.80 Standard Deviation Norm =3.70 According to the norms, a deviation of –1.85 to +1.85 is acceptable. Since, the co-workers mean (20.4), falls within the range mean minus ½SD (16.95) and mean plus ½SD (20.65), its slightly close to the upper limit. The sample size, therefore, exhibits an acceptable level of satisfaction, in terms of people they work with, when compared with the norms. The employees are comfortable working with their subordinates and superiors. Business School Of Delhi, Greater Noida Page6 Chapter – 6 CONCLUSION In this final chapter, I have concluded the findings of the study, and formulated the findings in generalized terms. 6.1 Conclusion- inference Business School Of Delhi, Greater Noida Page6 6.1 CONCLUSION INFERENCE The research hypothesis,” When job satisfaction is low, turnover will be high and, when job satisfaction is high, turnover will be low”, has been proved with JOB SATISFACTION SURVEY. This report fulfills the three research objectives, which are mentioned below-1. The retention strategies adopted by various Indian Construction companies. 2. Propose strategies that these companies can adopt to get a better solution to this Herculean problem. 3. To undertake analysis of Job Satisfaction scores of 10 respondents, in term of the nine Job Satisfaction sub-scales, using mathematical tools like Mean and Standard Deviation. The project report addresses common problems across similar industries (construction, manufacturing, engineering), which are high attrition rate and job dissatisfaction. These problems affect not only employees, but also the whole organization. Page6 Business School Of Delhi, Greater Noida FINDINGS After the analysis of the JOB SATISFACTION SURVEY scores obtained from the employees at ABIR INFRASTRUCTURE, following can be concluded--1. The majority of employees at ABIR are a happy bunch. 2. The employees are satisfied with the work they perform. 3. The respondents feel they are paid fair amount for the work they do and anticipate chances of salary increase in the organization. 4. The employees feel comfortable working with their peer, subordinates, and superiors. 5. The scores clearly suggest that in future, ABIR would be able to achieve its goals. 6. The organization would also save costs in controlling attrition. 7. Costs on training, re-training, counseling sessions would be saved. 8 . On the other hand, it is important to keep in mind, that there can be compulsory attrition due to other factors, which cannot be ignored. The strategies suggested in the paper are not exhaustive to retain the human capital of Construction and Engineering companies. These are just the basics and if implemented in a Page6 proper way can give good results. Business School Of Delhi, Greater Noida ‘Hire people, who are better than you are, then leave them to get on with it…; Look for people who will aim for the remarkable, who will not settle for the routine.” – DAVID OGILVY BIBLIOGRAPHY & WEBLIOGRAPHY Books/journals/articles/websites Specter, P.E. (1985), Measurement of human service staff satisfaction: Development of the Job Satisfaction Survey. American Journal of Community Psychology, 13, 693-713. CURRENCY (a quarterly newsletter for community bank executives) VOL.16, NO.2 SPRING 2004. Article on “Manufacturing to match IT pay hikes in 2008: survey”. By Surajeet Das Gupta. HR Connect. Issue 4 Feb’07. Aniruddh Banerjee,” Attrition & Informal Group: Have You Looked Inside the Sleeves? “—www.iipmthinktank.com Bavendam James. “Managing job satisfaction, special reports” Volume 6 (2000) <http://www.employeesatisfactions.com/> Wikipedia. http://en.wikipedia.org/wiki/Motivation www.tatamcgrawhillconsructions.com http.www.dbrownonline.com/mt/mt-tb.cgi/273 Page6 Business School Of Delhi, Greater Noida Lyndsay Swinton, 'Management for the rest of us' (link to www.mftrou.com) APPENDIX 1 HR MANAGER INTERVIEW PEROFORMA Q-1. Do you collect exit interview data? If so, can we have the form? Who do you collect it from? What do you do with the data? Q-2. Q-3. Q-4. Q-5. Q-6. Q-7. Q-8. Do you offer any bonuses linked to company performance? (Retention bonuses) Where do most of your employees come from? What is the typical recruitment process? Do you operate teams? Roughly how many hours of training per annum do you provide for new employees, current employees? Do you provide any job security guarantees? Does your firm have a particular set of values that it strongly promotes? Do you provide employees with detailed information on company performance? What form? Q-9. In your opinion, what are the main reasons for people leaving? Page6 Business School Of Delhi, Greater Noida Q-10. What HR policies do you have in place to control turnover – what was mean to work but hasn’t? Business School Of Delhi, Greater Noida Page6


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