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1 INDIA GLYCOLS LIMITED

Objective of the Company: Our business objective is to be the market leader in the surfactants and performance chemicals, by developing internationally proven technology & offering high quality, cost effective performance product. We strive to achieve this through innovative R& D efforts, proactive marketing, and utilizing human resources to its full potential and with concern for the environment. First and only company in the world to produce Ethylene Oxide (EO) / Mono Ethylene Glycol (MEG) from renewable agro route based on molasses, since 1989. Leading manufacturers of Glycols, Ethoxylates, Performance Chemicals, Glycol Ethers & Acetates, Guar Gum and Potable Alcohol. Completely integrated state of the art manufacturing process with emphasis on superior quality by deploying internationally proven technologies, innovative R&D and customized approach. The companys corporate office is in Kolkata and its head office is situated at Okhla Industrial Area, New Delhi

Largest Ethoxylate, Glycol Ether producer and thus leader in Ethylene Oxide Derivatives/Surfacetant business in India. Global player meeting international specifications and norms, exporting to South East Asia, Middle East, Europe, Australia and USA. Catering to more than 1,000 customers in various end-use industries such as Textile, Agrochemical, Oil & Gas, Personal Care, Pharmaceuticals, Brake Fluids, Detergent, Emulsion Polymerisation & paints etc.

Offer customer specific products to meet their performance / technical requirements Customer base includes large MNCs, Public Sector Undertakings and large as well as medium & small Indian organizations.

MANUFACTURING PROCESS AT THE COMPANY 1

TECHNOLOGY PROFILE AT THE COMPANY

PRODUCT TECHNOLOGY/LICENSOR

Glycols

Scientific Design Company Inc., USA (leading Ethylene Oxide / Ethylene Glycol licensor globally) Press industria AG, Italy (leading Ethoxylates technology licensor globally)

Ethoxylates & PEGS

Performance Chemicals

Sanyo Chemical Industries Ltd. Japan Leader in speciality Surfactants in Japan

Glycol Ethers

Sulzer Chemtech, Switzerland

Extra Neutral Alcohol

Alfa Laval, India, USA

CODE OF CONDUCT FOR DIRECTORS AND SENIOR MANAGEMENT INTRODUCTION 3

India Glycols Limited (the Company) is committed to conducting its business in accordance with the applicable laws, rules and regulations and with highest standards of business ethics. This code is intended to provide guidance and help in recognizing and dealing with ethical issues, provide mechanism to report unethical conduct and to help foster a culture of honesty and accountability. Each Director and Senior Official is expected to comply with the letter and spirit of this Code. A Director and Senior Official must not only comply with applicable laws, rules and regulations but should also promote honest and ethical conduct of the business. They must abide by the policies and procedures that govern the conduct of the Companys business. Their responsibilities include helping to create and maintain a culture of high ethical standards and commitment to compliance and maintain a work environment that encourages the stake holders to raise concerns to the attention of the management. This Code of Conduct has been adopted by the Company to comply with the applicable rules of stock exchanges where securities of the Company are listed. GUIDLINES FOR CONDUCT Each Director should seek to use due care in the performance of his/her duties, be loyal to the Company, act in good faith and in a manner such Director reasonably believes to be not opposed to the best interest of the Company. A Director should seek to: i. ii. iii. make reasonable efforts to attend Board and committee meetings; dedicate time and attention to the Company; and seek to comply with all applicable laws, regulation and confidentiality obligations and corporate policies of the Company. 3. CORPORATE BUSINESS OPPORTUNITY In carrying out the duties and responsibilities, Directors and Senior officials should avoid:

i.

appropriating corporate business opportunities for themselves that are discovered through the use of Companys property or information or their position as Director or Senior Official;

ii. iii.

Using Companys property or information or their position as Director or Senior Official for personal gain; and Competing with the Company

1.2 INTRODUCTION TO MOTIVATION

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

At one time, employees were considered just another input into the production of goods and services. What perhaps changed this way of thinking about employees was research, referred to as the Hawthorne Studies, conducted by Elton Mayo from 1924 to 1932 (Dickson, 1973). This study found employees are not motivated solely by money and employee behavior is linked to their attitudes (Dickson, 1973). The Hawthorne Studies began the human relations approach to management, whereby the needs and motivation of employees become the primary focus of managers . Historical Development Understanding what motivated employees and how they were motivated was the focus of many researchers following the publication of the Hawthorne Study results (Terpstra, 1979). Five major approaches that have led to our understanding of motivation are: 1. Maslow's need-hierarchy theory 2. Herzberg's two- factor theory 3. Vroom's expectancy theory 4. Adams' equity theory 5. Skinner's reinforcement theory. According to Maslow, employees have five levels of needs (Maslow, 1943): 1. Physiological needs 2. Safety needs 3. Social needs 4. Self- esteem needs and 5. Self- actualizing needs. Maslow argued that lower level needs had to be satisfied before the next higher level need would motivate employees. Herzberg's work categorized motivation into two factors:

1. motivators (or intrinsic factors, such as achievement and recognition, produce job satisfaction.) 2. hygienes (or extrinsic factors, such as pay and job security, produce job dissatisfaction.) Vroom's theory is based on the belief that employee effort will lead to performance and performance will lead to rewards (Vroom, 1964). Rewards may be either positive or negative. The more positive the reward the more likely the employee will be highly motivated. Conversely, the more negative the reward the less likely the employee will be motivated. Adams' theory states that employees strive for equity between themselves and other workers. Equity is achieved when the ratio of employee outcomes over inputs is equal to other employee outcomes over inputs (Adams, 1965). Skinner's theory simply states those employees' behaviors that lead to positive outcomes will be repeated and behaviors that lead to negative outcomes will not be repeated (Skinner, 1953). Managers should positively reinforce employee behaviors that lead to positive outcomes. Managers should negatively reinforce employee behavior that leads to negative outcomes. Motivation Defined Many contemporary authors have also defined the concept of motivation. Motivation has been defined as: The psychological process that gives behavior purpose and direction (Kreitner, 1995) A predisposition to behave in a purposive manner to achieve specific, unmet needs (Buford, Bedeian, & Lindner, 1995) An internal drive to satisfy an unsatisfied need (Higgins, 1994); The will to achieve (Bedeian, 1993).

Thus, motivation is operationally defined as the inner force that drives individuals to accomplish personal and organizational goals.

The Role of Motivation Why do we need motivated employees? The answer is survival (Smith, 1994). Motivated employees are needed in our rapidly changing workplaces. Motivated employees help organizations survive. Motivated employees are more productive. To be effective, managers need to understand what motivates employees within the context of the roles they perform. Of all the functions a manager performs, motivating employees is arguably the most complex. This is due, in part, to the fact that what motivates employees changes constantly. For example, research suggests that as employees' income increases, money becomes less of a motivator. Also, as employees get older, interesting work becomes more of a motivator.

2 RATIONALE BEHIND THE STUDY The purpose of the proposed research was to find out the level of satisfaction amongst the permanent workers of India Glycols Limited. We intended to investigate: 1) How monetary incentives affect the overall satisfaction level of employees? 2) What are the other components which could be attributed to the motivation and satisfaction level of the workers? 3) What are the processes which could be improved to elevate the existing level of satisfaction? The purpose of this study was to describe the importance of certain factors in motivating employees at. Specifically, the study sought to describe the ranked importance of the following motivating factors: (a) interesting work, (b) good wages, (c) full appreciation of work done, (d) job security, (e) good working conditions, (f) promotions and growth in the organization, (g) stress factor in the job, (h) rewards given to employees, (i) opportunity to interact with others and (j) personal satisfaction.

3 REVIEW OF THE LITERATURE

To collect the necessary data, information and facts, we begin with the search of relevant material in the library. We referred to various books, magazines and journals related to our topic of research. We also took help of online material and resources in order to obtain the varied and diverse information as much as possible. The various online & offline sources used for this research are as follows: www.qualitydigest.com www.shrm.org www.splinger.com\ for motivation related articles www.motivation123.com Human Resource & Management Text & Cases by V S P Rao Business Today article on how to keep employees happy Human Resource Management T.N. Chabra ( text book)

4 RESEARCH OBJECTIVE

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

5 HYPOTHESIS

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

6 RESEARCH METHODOLOGY

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Research Design The research design for this study employed a descriptive survey method. The target population of this study included employees at the India Glycols Limited The sample size included 15 employees of the target population. The questionnaire asked participants to rank the importance of factors that motivated them in doing their work on a scale of 1-5 as follows: 5 = Strongly Agree 4 = Agree 3 = Neutral 2 = Disagree 1 = Strongly Disagree Primary Data Collection In this stage, we collected data through questionnaires given to the workers at the companys head office situated in Okhla Industrial Area, New Delhi. Secondary Data Analysis For background information, we used secondary data from the internet (old news items relevant to the topic, websites of India Glycols Limited) and other related magazines and journals. We also asked the management at India Glycols Limited for their records and files to get the required information. We also visited various databases like EBSCO and splinger.com for research articles on motivation of employees. After carrying out the research we found that our findings were similar to what we found in the secondary data research that employees are motivated both through monetary as well as non-monetary factors. The questionnaire used for the research was given as below:

QUESTIONNAIRE

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We, the students of University School of Management Studies are conducting a research on motivation level of employees in an organization. So, kindly fill in the questionnaire below with the correct responses. The information obtained through this Questionnaire will be kept confidential and will be used for academic purposes only. Personal Information Name: ____________________________________________________ Age: _____________________________________________________ Gender (M/F): _____________________________________________ Name of the Organization: ___________________________________ Department you work in: Customer Service MIS Corporate Marketing Position at which you are working: Clerical Managerial Project Manager How long have you worked at (company): Less than six months 6 months- 1 year 1- 2 years 1. Do you feel that employees are recognized as individuals? 3-5 years More than 5 years Technician Accounting Others Finance/Accounting Sales/Marketing Human Resources

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 Always

Usually

Sometimes

Rarely

Never

2. Which factors motivates you more? Monetary Non- Monetary

3. Please indicate your level of agreement with the following (tick one): Strongly Agree (4) Neutral (3) Disagre e (2) Strongly disagree (1)

Particulars
If I do a good job I will be rewarded My work is often appreciated by my boss I do my job more effectively when I am motivated. My working environment is proper and hygienic. I feel stressed in my job. I receive enough opportunity to interact with other employees formally. My company provides various incentives to hard working employees There is enough scope for growth & promotion in the company. I am proud to work for this company

agree (5)

Signature: _____________________ 7 ANALYSIS AND INTERPRETATION 14

The responses based on scales were tabulated and were analysed to understand the motivation level of employees. The study has covered 15 employees working in the head office of Glycols India Limited situated at Okhla Industrial Area, New Delhi. The responses for each question collected from all the respondents are compiled and interpreted as follows: For ease of compilation the total no. of responses are categorized as x and the percentage of responses are given as y in the following tabulations: 5 = Strongly Agree 4 = Agree 3 = Neutral 2 = Disagree 1 = Strongly Disagree X = Total No of responses Y = % of responses The sample taken up for the study were the employees working at the middle level of the organization in various departments. Their responses were collected through the questionnaire distributed among them. The detailed interpretation of the results is as follows: 1. If I do a good job I will be rewarded
SCALE x y Strongly Agree 4 26% Agree 6 40% Neutral 5 33% Disagree Strongly disagree

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7 No. of Re sponse s 6 5 4 3 2 1 0
S n ly tro g Ag e re Ag e re

Nu l e tra

D g e isa re

S n ly tro g d g e isa re

It was seen that 40% of the employee agree that they will be rewarded on doing a good job while 26% of respondents were highly agreed. However, 33% of respondents do not consider doing good job as a factor of getting rewarded. Thus employees were motivated to do a good job. 2. My work is often appreciated by my boss
SCALE x y Strongly Agree 2 13% Agree 7 46% Neutral 4 26% Disagree 2 13% Strongly disagree

13% 27%

0%

13%

Strongly Agree Agree Neutral Disagree Strongly disagree

47%

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It was seen that 47% of the employees get motivated when their work is appreciated by their boss, 13% of respondents were highly agreed. However, 26% of respondents do not get motivated when their work is appreciated by their bosses. 3. I do my job more effectively when I am motivated
SCALE x y Strongly Agree 5 33% Agree 7 46%
x 8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly disagree x

Neutral 3 20%

Disagree

Strongly disagree 0%

0%

It was seen that productivity & efficiency of doing work increases when employees are motivated. Only 20% of the respondents were neutral about the fact. 4. My working Environment is proper & hygienic
SCALE x y Strongly Agree 2 13% Agree 8 53% Neutral 2 13% Disagree 3 20% Strongly Disagree

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x 10 8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly disagree

It was evident that most of the employees (more than 50%) consider good working conditions as an important motivator. However, 20% of respondents think that their working environment is not up to the mark. 5. I feel stressed in my job
SCALE x y Strongly Agree Agree 9 60% Neutral 3 20% Disagree 3 20% Strongly disagree

x 0% 20% 0%

Strongly Agree Agree Neutral

20%

60%

Disagree Strongly disagree

It was seen that 60% of the employees feel stressed in their job and were not motivated whereas 20% of the respondents disagree with this fact.

6. I receive enough opportunity to interact with other employees formally. 18

SCALE x y

Strongly Agree 2 13%

Agree 7 46%

Neutral 3 20%
x

Disagree 3 20%

Strongly Disagree

8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly disagree x

It was found that 46% of the respondents feel that their social needs are met by the company whereas 20 % of them were neutral and 20% do not agree with the fact. 7. My company provides various incentives to hard working people.
SCALE x y Strongly Agree Agree 4 26% Neutral 4 26%
x 8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly disagree x

Disagree 6 40%

Strongly Disagree 1 7%

It was observed that 40% of the respondents said that there is no incentive provided by the company to the hard working employees. The percentage of employees who agree with the fact & those who were neutral was same. 19

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

SCALE x y Strongly Agree 1 6% Agree 7 46% Neutral 2 13% Disagree 5 33% Strongly Disagree

x 8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly Disagree x

It was found that 46 % of the respondents agree with the fact that there is enough scope in the company for growth and promotion and so they are motivated to work hard whereas 33% disagree with the fact. 9. I am proud to work for this company.
SCALE x y Strongly Agree 3 20% Agree 7 46% Neutral 4 26% Disagree 1 6% Strongly Disagree

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x 8 6 4 2 0 Strongly Agree Agree Neutral Disagree Strongly Disagree x

It was seen that 66% (20+46) employees feel that their higher order needs are satisfied and hence they are highly motivated, 26% were neutral about the fact & 6% of the respondents disagree with the fact.

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8 RESULTS AND CONCLUSION It was found that if an employee feels that there is a lack of appreciation for work done, as being too low relative to another employee, an inequity may exist and the employee will be demotivated. Further, employees will attempt to restore equity through various means, some of which may be counter- productive to organizational goals and objectives. For instance, employees who feel their work is not being appreciated may work less or undervalue the work of other employees. The absence of motivators does not lead to dissatisfaction. For example, if employees feel stressed in their job, then this would not lead to their dissatisfaction. But paying employees lower wages than what they believe to be fair may lead to job dissatisfaction. Conversely, employees will be motivated when they are doing interesting work and but will not necessarily be motivated by higher pay. What is clear, however, is that employees rank various factors as the most important motivational factor according to their need and aspirations. At one point of time, he is motivated by monetary factors whereas at some other point of time (for instance when his primary needs are satisfied), he give more importance to non-monetary factors. Thus, our hypothesis that employees get motivated by both monetary as well as non-monetary factors was proved correct. The strategy for motivating centers' employees depends on which motivation theories are used as a reference point. If Hertzberg's theory is followed, management should begin by focusing on pay and job security (hygiene factors) before focusing on interesting work and full appreciation of work done (motivator factors). If Adams' equity theory is followed, management should begin by focusing on areas where there may be perceived inequities (pay and full appreciation of work done) before focusing on interesting work and job security. If Vroom's theory is followed, management should begin by focusing on rewarding (pay and interesting work) employee effort in achieving organizational goals and objectives. Thus, the key to motivating centers' employees is to know what motivates them and designing a motivation program based on those needs. 9 REFERENCES

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 www.qualitydigest.com www.shrm.org www.splinger.com\ for motivation related articles www.motivation123.com Human Resource & Management Text & Cases by V S P Rao Business Today article on how to keep employees happy Human Resource Management T.N. Chabra ( text book)

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