SCOPE OF INDIAN TEXTILE INDUSTRY COMPANY PROFILE Introduction to Employee Satisfaction Objectives of the study Review of literature Research

earch methodology Limitations Data analysis and Interpretation Findings Recommendations Conclusion Bibliography

INDIAN TEXTILE INDUSTRY

Textile accounts for 14 % of Indias industrial production and around 27% of its exports earnings. Industry uses a wide variety of fibers ranging from natural fibers to manmade fibers. Providing direct employment to an estimated 35 million people, by contributing 4% of GDP and 14% of value addition in manufacturing sector. It is the second largest employer after the agriculture sector in both rural and urban areas.

Almost all sectors of textile industry have shown significant

SEGMENTS OF INDIAN TEXTILE INDUSTRY

Woolen Textile Cotton Textiles Silk Textiles Readymade Garments Jute And Coir Hand-Crafted Textile Like Carpets Man Made Textiles

VARDHMAN TEXTILES LTD. COMPANY PROFILE

Registered office/ corporate office : Chandigarh Road (Ludhiana, Punjab) Date of incorporation : 27 December, 1962

Listings on Stock Exchange

: Bombay Stock Exchange,

National Stock Exchange (Mumbai)

Historical Background of Vardhman Group

The Vardhman Group was setup in 1962

Humble beginnings in 1965 at Ludhiana with a Spinning Mill with an installed capacity of 14,000 Spindles
In the year 1986 the group entered the sewing thread market with its plant at Hoshiarpur.

In the year 1986 Vardhman acquired Mohta Special Steels is known as Vardhman Special Steels, Ludhiana.

 Vardhman commissioned our yarn unit in 2007 with an initial capacity of 30000 spindles. The Unit is well on its way of achieving the ultimate capacity of 223416 spindles. The integrated Unit of the group Vardhman Fabrics - has also been commissioned in 2007. The Group is, now, one of the largest textile conglomerate in the country with a turnover of about Rs. 2767 Crores (200910). The Group presently (2009-10) with an installed capacity of 8.59 Lac spindles, 3768 rotors, 900 air jet looms

Listed Companies Vardhman Textiles Limited (formerly Mahavir Spinning Mills Limited) Vardhman Acrylics Limited Vardhman Holdings Limited (formerly Vardhman Spinning & General Mills Limited)

Unlisted Companies

VMT Spinning Company Limited

Vardhman Yarns and Threads Limited Vardhman Texgarment Limited

LOGO OF VARDHMAN GROUP

The Flame signifies Growth

The Stick symbolizes cotton that is the Basic Raw Material of the Core Product of Vardhman.
The V stands for the Vardhman Group.

MISSION

World

Class Textile Organization producing diverse range of Products for the global textile market.

Committed to be a responsible corporate citizen.

BEING WORLD CLASS SPINNERS BY PROVIDING HIGHEST QUALITY PRODUCTS WITHIN MINIMUM COST.

Vision

Vardhman Rooted in Values, Creating World Class Textiles

Superior Products, High Standards of Quality and Performance, Distinctive Competitive Strategies and Highest Integrity and Commitment of the people.

PRODUCTS

Sewing Thread

Fabrics

YARN

STEEL

ACRYLIC FIBRE

BOARD OF DIRECTORS
Chairman and Managing Director Managing Director, Vardhman Yarns and Threads Limited Mr. S P Oswal Mr. D L Sharma

Managing Director, Vardhman Acrylic Limited

Executive Director, Vardhman Textiles Limited Executive Director, Vardhman Textiles ltd.

Mr. B K Choudhary
Mr. Sachit Jain Ms. Suchita Jain Mr. I M J S Sidhu Mr. Neeraj Jain Mr. V. K. Goyal

President and Director (Incharge Baddi

operations) Executive Director, Vardhman Textiles ltd. Chief Executive,Vardhman Spinning and GeneralMil Chief Executive Financial Controller, Vardhman Spinning & General Mills Limited

Mr. D.K Sindwani

GLOBAL INTERNATIONAL ALLIANCE

Product/Process

Global Partners

Fabric Dyeing and Finishing

Takai, Senko, Japan

Fibre and Yarn Dyeing

Nihon Sanmo Dyeing Corporation Ltd., Japan

Gassed Mercerized Yarns

Kyung Bang, South Korea

Sewing Thread

American & Efrid Inc., USA

Acrylic Fibre

Marubeni Corporation & Japan Exlan, Japan

THE CORPORATE OFFICE

Being in November 1995.

Chairman and Managing Directors office

Managing Directors office

Executive Directors office Corporate Finance & Accounts department Corporate HR & Personnel department Corporate Secretarial department Corporate Law department

Corporate MIS department Corporate Taxation department Corporate Raw Material dept Central Marketing Yarns dept Corporate Exports department

Corporate Projects & Purchase department

Corporate Commercial department

Corporate Internal Audit dept

Functional departments housed in Corporate Office

Department Head of the department

Corporate MIS
Finance and Accounts, Taxation and Secretarial

Mr. Neeraj Jain

Mr. Rajiv Thapar

Central Marketing Yarns

Exports Projects & Purchase

Mr. Vijay Puniyani

Mr. Harinder pal Singh Rana Mr. D.S. Kalra

Internal Audit
Law and Commercial EDP & IT HR Raw Material

Mr. Deepak Sood

Mr. Rajesh Chopra Mr. Z.S. Choudhry Ms. Suchita Jain Mr. I.J. Dhuria

HR DEPARTNMENT The major functions of the department can be explained as follows Recruitment 1.Scheme recruitment (on campus and off campus - ET recruitment) 2.Direct recruitment

Salary administration for corporate office and for all employees across t Group falling in M4 and above

Training and development

Performance management Wage studies (workers) Getting the joining formalities done for employees joining in Corporate office

Exit formalities 1.Clearance / no dues forms 2.Exit interviews 3.Farewell

Loan applications (general / furniture / vehicle)

Administration

Medical insurance (medical and group term)

Summer trainees Handling internal queries / grievance of employees

SWOT ANALYSIS OF THE VARDHMAN GROUP

Strengths:-

1.Good Brand Equity 2. Good technological base with Foreign Collaboration 3. High Quality Standards 4. High Production Capacity 5. Commitment for growth Weaknesses:1.Comparatively high prices 2. Lesser degree of promotional activity

3. Long Hierarchy

Opportunities:1. As brand image is very good ,Vardhman can have some good customers. 2. Strict payments are strengths at times as well as weakness. 3. Customers shall be attracted to buy more and regularly. 4. Shortened hierarchy shall provide hope for better customer service. Threats:1.Smaller players in the market are using Vardhmans process to push their product at lower prices. 2. Companies from south are entering into Ludhiana market. 3. Capacity of Yarn Spinning is increasing rapidly in comparison to increase in market size, resulting into the addition of new players.

INTRODUCTION TO EMPLOYEE SATISFACTION

Need of Employee Satisfaction Survey

Rapidly growing organization High or growing turnover rate Highly competitive industry

ELEMENTS OF JOB SATISFACTION

Importance of employee satisfaction in an organization

Objectives of the Study

To identify the factors which influence the Job satisfaction of employees. To observe the Human resource development in the Vardhman Textiles Limited at Corporate Office. To suggest measures to improve the Satisfaction level of employees.

RESEARCH METHODOLOGY

RESEARCH DESIGN In my research , Descriptive research design have followe DATA COLLECTION primary data. Primary data is collected by Questionnaire.

Sample Design and Size Sample size is 100 employees

Sampling frame: Sample frame = ALL Employees of different department at Corporate Office Sampling technique Snowball Sampling. Convenience Sampling.

Limitations of the Study

1. TIME
2. AUTHENTICITY OF FEEDBACK 3. ATTITUDE AND BEHAVIOUR 4. LIMITED KNOWLEDGE
:-

Data Analysis and Interpretation

N=100

Table 4(a).1Belongingness to the Department

DEPARTMENT

NO. OF RESPONDANTS

PERCENTAG E

MIS
FINANCE MARKETING EXPORT

7
17 11 15

7
17 11 15

IT
RAW MATERIAL COMMERCIAL LAW

5
11 7 4

5
11 7 4

INTERNAL AUDIT
SECATRIAL HR

6
6 11

6
6 11

N=100

Table 4(a).2 Working Experience of an Employee in an Organization

WORKING EXPERIENCE NO.OF RESPONDANTS

PERCENTAGE

Less than 2 year

2-4 year 4-6 year

29
34 15

29
34 15

More than 6 year

22

22

Table 4(a).3 Job Suits Your Educational Qualifications and Career Abilities N=100 Job Suits Educational Qualification and Career Abilities

20%

Yes No

80%

N=100

Table 4(a).4 View the Job

View the job

(a) Challenging (b) Responsible (c) Motivating (d) Secured

Cumulative sum
49 76 30 26

Percentage
27.07 41.98 16.57 14.36

. Table

4(a).5 Rank the attributes of Job Satisfaction

N=100

Job Satisfaction factors Work Environment Salary Structure Job security Superior Subordinate Relations Motivational factor Leadership

Cumulative sum

206 405 302 338

394 455

N=100
Level of satisfaction Work Environment

Table 4(a).6 Level of Satisfaction Regarding Work Environment

-2 -1 0 1 2 Highly Dissatisfied Neutral Satisfied Highly dissatisfied Satisfied 0 7 23 61 9 0 -7 0 61 18 Total Mean

72

.72

Level of Satisfaction
MEAN, 0.72 0.8

MEAN

0.6 0.4

0.2
0 1

Work Enviornment

N=100

Table 4(a).7 Level of satisfaction regarding the Team Spirit, Leadership Skill in your department

Level of satisfaction

Team Spirit, Leadership Skills

-2 -1 0 1 2 Highly Highly Dissatisfied Neutral Satisfied Satisfied dissatisfie d 0 6 27 58 9 0 -6 0 58 18

Total

Mean

70

.70

N=100

Table 4(a).8 Satisfaction level towards Job Security

Level of satisfaction

-2 -1 0 1 2 Highly Dissatisfie Neutral Satisfie Highly dissatisfie d d Satisfie d d 0 1 30 48 21 Job security 0 -1 0 48 42

Total

Mean

89

.89

Level of Satisfaction

1 0.8

MEAN

0.6 0.4 0.2 0

MEAN, 0.89

JOB SECURITY

N=100

Table 4(a).9 Satisfaction Regarding Present Position in the Company Satisfaction Regarding Present Position of the Company

No

Number of responses

Yes

46

47

48

49

50

51

52

53

N=100

Table 4(a).10 Company clearly Communicates its strategies, goals To

Employees
Company Clearly Communicates its strategies, goals to employees

35%
Yes
No

65%

N=100 Table 4(a).11 Company spend reasonable time, efforts, money in Human Resource Development of Employees Company spends Resonable Time, Efforts, Money in the development of Employees

29%
Yes

71%

No

N=100

Table 4(a).13 Quality of Training and Development given to Employees

Quality Of Training given to the Employees

100 90 80 70 60 50 40 30 20 10 0 Yes No Number of responses

N=100

Table 4(a).14 Kind of facilities are provided to employees

Facilities (a) Housing facilities (b) Medical facilities (c) Life Insurance facility (d) Transport facilities

Cumulative sum 11

Percentage 5.61

52
55 17

26.53
28.06 8.67

(e) Salary Structure (f) Retirement Benefit

(g) Education facility

31
22 8

15.81
11.22 4.08

N=100

Table 4(a).15 Satisfaction level towards facilities Provided in the Organization

Facilities Leave -6 Housing -10 Life Insurance Educational Assistance Retirement -12 Health -6 3 -27 -10 6 -27 27 0 -2 5 -28 27 0 29 39 1 -12 28 0 46 19 39 4 5 -30 12 0 49 19 19 0 2 6 .06 -.24 -2 3 -22 30 0 47 40 19 0 0 -20 -.20 -1 22 0 54 7 40 0 0 -19 -.19 0 30 45 7 0 0 26 .26 1 45 0 0 -33 - .33 2 0 17 .17 Total Mean

Transport
-12

6
-30

30
0

45
18

18
0

0
-24

N=100

Table 4(a).16 Level of Satisfaction derived from various factors

Level of Satisfaction Monetary -2 -1 0 35 7 -14 2 31 -31 0 35 21 33 1 21 12 3 2 6 -12 -.12 Total Mea n

Incentives
Growth and

Opportunitie
s Performance Appraisal

-4

27 -27
4 22 -22

33

.08

32 0 38

38 8

16

.16

-8

Table 4(a).17 Level of Satisfaction regarding Interpersonal Relations at Work

N=100 Level of satisfaction -2 -1 0 1 2 Highly Dissatisfie Neutral Satisfie Highly dissatisfie d d Satisfie d d 0 1 21 6 Interperson 0 -1 0 72 12 al 72 Level of Satisfaction Relations
1 0.8 Mean, 0.83

Total

Mean

83

.83

mean

0.6 0.4 0.2 0

Interpersonal Relations

Table 4(a).18 Superior provide you proper feedback about the work
GRAPH Your Superior Provide You Proper Feedback About Your Work

16%

Yes No

84%

Table 4(a). 19 Feel any stress with the Job.

Feel Stress with the Job
Yes No

No

73

Yes

27

Table 4(a) 20. Overall Satisfaction level with the Job

Level of satisfaction

-2 -1 0 1 2 Highly Total Mean Highly Dissatisfied Neutral Satisfied Satisfied dissatisfied

Overall Satisfaction -2

1 -5

5 0

41 50

50 6

3 49 .49

FINDINGS

CONCLUSION

SUGGESTIONS AND RECOMMENDATIONS

Company needs to revise the pay scale of the employees. Timely and adequate increments should be there for the employees.

Organization should provide better Housing, Retirement benefits, Educational Assistance, Leave, Health, transportation facilities.
Employee motivation should be encouraged.

Interpersonal relations should be more developed. Superior subordinate relations should be fine and hierarchy should be shortened
Time to time profile changes for the employees There should be job rotation for the employees in all dept , so the employees can know all other activities Increase staff level salary taking into consideration current inflation