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Final Project Report

Study of Job Satisfaction


Regarding Stelco Ltd.
Rampura Phul Distt.Bathinda

Submitted to Punjab Technical University in partial fulfillment of the


requirements for the degree of

BACHELOR OF BUSINESS ADMINISTRATION

Project Guide: Submitted By:


Mr.Ramanjit Singh Sumeet Bansal
Roll no.608240354
BBA 5th SEM

GIAN JYOTI INSTITUTE OF MANAGEMENT AND TECHNOLOGY


MOHALI
ACKNOWLEDGEMENT

It is my proud privilege and pleasure to express deep sense of gratitude to Mr. Ramanjit
Singh (project guide), for placing complete faith and confidence in my ability to carry
out this study and for providing me their inspiration, encouragement, help, valuable
guidance, constructive criticism and constant interest. They took personal interest in
spite of their numerous commitment and busy schedule to help me in completing this
project. My project would not have seen the light of the day without their masterly
guidance and overwhelming help.
I extent my heartful gratitude to my family and friends help, cooperation, selfless love
and constant encouragement of successful accomplishment of my project.

Sumeet Bansal
BBA 5th Semester
PREFACE

The main purpose of research is to supplement the theoretical knowledge with practical
knowledge. This report is an endeavour to assimilate and put towards all the knowledge
and experience that I have got during research conducted.
I would like to record all my gratitude to all those who helped me in
accomplished of my project.
The research is going to play a very important role in developing self –
confidence for my future. The knowledge gained from the research is a lifetime
experience that I will treasure forever. I pave the way to know about the detailed
overview of research.
CERTIFICATE OF COMPLETION

This is certified that the final project entitled STUDY OF JOB SATISFACTION IN
STELCO LTD submitted in partial fulfillment of the requirement for the degree of BBA
affiliated to PTU Jalandhar is the research work carried out by Sumeet Bansal, Roll no.
608240354 under my guidance and supervision.

Mr. Ramanjit Singh


(Project Guide)
DECLARATION

I hereby declare that the work, which is being presented in the project report “STUDY
ON JOB SATISFACTION IN STELCO LIMITED” for partial fulfillment of the degree
of BBA submitted in Gian Jyoti Institute of Management & Technology phase -2,
Mohali, affiliated to Punjab Technical University, Jalandhar is record of my own work
and is carried under the guidance of Mr. Ramanjit Singh.

Sumeet Bansal
TABLE OF CONTENTS

Contents

Page no.
• Industry profile
• Company Profile
• Introduction of the topic
• Review of literature
• Research Methodology

 Population
 Sample

 Sampling unit
 Scope of study
 Data collection

• Limitations of the study


• Discussions and Interpretation
• Conclusion
• Suggestions
• Bibliography
• Appendix

INDUSTRY PROFILE

Introduction

The Indian Steel industry is almost 100 years old now. Till 1990, the Indian steel
industry operated under a regulated environment with insulated markets and large
scale capacities reserved for the public sector. Production and prices were determined
and regulated by the Government, while SAIL and Tata Steel were the main
producers, the latter being the only private player. In 1990, the Indian steel Industry
had a production capacity of 23 MT. 1992 saw the onset of liberalization and the
Indian economy was opened to the world. Indian steel sector also witnessed the entry
of several domestic private players and large private investments flowed into the
sector to add fresh capacities.

The last decade saw the Indian steel industry integrating with the global economy and
evolving considerably to adopt world-class production technology to produce high
quality steel. The total investment in the Indian steel since 1990 is over Rs 19,000
crores mostly in plant equipments, which have been installed after 1990. The steel
industry also went through a turbulent phase between 1997 and 2001 when there was
a downturn in the global steel industry. The progress of the industry in terms of
capacity additions, production, consumption, exports and profitability plateaued off
during this phase. But the industry weathered the storm only to recover in 2002 and is
beginning to get back on its feet given the strong domestic economic growth and
revival of demand in global markets.

With a current capacity of 35 MT the Indian Steel Industry is today the 8 th largest
producer of steel in the world. Today, India produces international standard steel of
almost all grades/varieties and has been a net exporter for the past few years,
underlining the growing acceptability of its products in the global market.

Steel is a highly capital intensive industry and cyclical in nature. Its growth is
intertwined with the growth of the economy at large, and in particular the steel
consuming industries such as manufacturing, housing and infrastructure. Steel, given
its backward and forward linkages, has a large multiplier effect.

Economists quantify the economic impact of any sector through measures such as the
output multiplier effect, forward and backward effects etc. Based on the Indian input-
output model, the Iron, Steel and Ferro Alloys sector (sector code 72 of CSO Table)
reveals high output multiplier of 2.64 and ranks 4 out of 115 sectors into which the
economy is divided. The output multiplier effect is defined as the total increase in
output generation (in case of sector 72, total increase of 2.64 units including unitary
increase of the sector’s own output) for one unit increases of final demand in the
particular sector.
The Forward Linkage refers to the inter relationship between the particular sector and
all other sectors which demand the output of the former as their inputs. In the CSO
table of 60 sectors (where all iron and steel sub sectors have been merged to one
sector), the Forward Linkage of the Iron and Steel sector at 4.79 is quite significant
(ranks 4 out of 60 sectors into which the economy is divided). The significant output
multiplier effect and the forward linkage effects are the compelling reasons propelling
various economies to set up domestic plants to satisfy the local demand. Economists
have estimated that for every additional one lakh rupees output (2002-03 prices) in the
Iron, Steel and Ferro alloys sector, an additional 1.3 man years of employment are
created.

With capital investments of over Rs 100, 000 crores, the Indian steel industry
currently provides direct/indirect employment to over 2 million people. As India
moves ahead in the new millennium, the steel industry will play a critical role in
transforming India into an economic superpower.

India continually posts phenomenal growth records in steel production. In 1992, India
produced 14.33 million tones of finished carbon steels and 1.59 million tones of pig
iron. Furthermore, the steel production capacity of the country has increased rapidly
since 1991 – in 2008, India produced nearly 46.575 million tones of finished steels
and 4.393 million tones of pig iron.

Both primary and secondary producers contributed their share to this phenomenal
development, while these increases have pushed up the demand for finished steel at a
very stable rate.

In 1992, the total consumption of finished steel was 14.84 million tones. In 2008, the
total amount of domestic steel consumption was 43.925 million tones. With the
increased demand in the national market, a huge part of the international market is
also served by this industry. Today, India is in seventh position among all the crude
steel producing countries.

The following are the premier steel plants operating in India:


• Salem Steel Plant at Tamil Nadu
• Bhilai Steel Plant at Chattisgarh

• Durgapur Steel Plant at West Bengal

• Alloy Steel Plants at West Bengal

• Visvesvaraya Iron and Steel Plant in Karnataka

• Rourkela Steel Plant at Orissa

• Bokaro Steel Plant at Jharkhand

Historically

Before the introduction of the Bessemer process and other modern production
techniques, steel was expensive and was only used where no cheaper alternative
existed, particularly for the cutting edge of knives, razors, swords, and other items
where a hard, sharp edge was needed. It was also used for springs, including those
used in clocks and watches.
Modern production methods

White-hot steel pouring out of an electric arc furnace.

Blast furnaces have been used for two millennia to produce pig iron, a crucial step in
the steel production process, from iron ore by combining fuel, charcoal, and air.
Modern methods use coke instead of charcoal, which has proven to be a great deal
more efficient and is credited with contributing to the British Industrial Revolution.[40]
Once the iron is refined, converters are used to create steel from the iron. During the
late 19th and early 20th century there were many widely used methods such as the
Bessemer process and the Siemens-Martin process. However, basic oxygen
steelmaking, in which pure oxygen is fed to the furnace to limit impurities, has
generally replaced these older systems. Electric arc furnaces are a common method of
reprocessing scrap metal to create new steel. They can also be used for converting pig
iron to steel, but they use a great deal of electricity (about 440 kWh per metric ton),
and are thus generally only economical when there is a plentiful supply of cheap
electricity.

AN OVERVIEW OF STEEL SECTOR

Global Scenario
• In 2007 the World Crude Steel output reached 1343.5 million metric tons and
showed a growth of 7.5% over the previous year. It is the fifth consecutive year that
world crude steel production grew by more than 7%. (Source: IISI)
• China remained the world’s largest Crude Steel producer in 2007 also (489.00
million metric tons) followed by Japan (112.47 million metric tons) and USA (97.20
million metric tons). India occupied the 5 th position (53.10 million metric tons) for
the second consecutive year. (Source: IISI)
• The International Iron & Steel Institute (IISI) in its forecast for 2008 has predicted
that 2008 will be another strong year for the steel industry with apparent steel use
rising from 1,202 million metric tonnes in 2007 to 1,282 million metric tonnes in
2008 i.e. by 6.7%. Further, the BRIC ( Brazil, Russia, India and China) countries
will continue to lead the growth with an expected increase in production by over
11% compared to 2007.

Domestic Scenario

• The Indian steel industry have entered into a new development stage from 2005-06,
riding high on the resurgent economy and rising demand for steel. Rapid rise in
production has resulted in India becoming the 5 th largest producer of steel.
• It has been estimated by certain major investment houses, such as Credit Suisse that,
India’s steel consumption will continue to grow at nearly 16% rate annually, till
2012, fuelled by demand for construction projects worth US$ 1 trillion. The scope
for raising the total consumption of steel is huge, given that per capita steel
consumption is only 40 kg – compared to 150 kg across the world and 250 kg in
China.
• The National Steel Policy has envisaged steel production to reach 110 million
tonnes by 2019-20. However, based on the assessment of the current ongoing
projects, both in greenfield and brownfield, Ministry of Steel has projected
that the steel capacity in the county is likely to be 124.06 million tonnes by
2011-12. Further, based on the status of MOUs signed by the private producers
with the various State Governments, it is expected that India’s steel capacity
would be nearly 293 million tonne by 2020.

Production
• Steel industry was delicensed and decontrolled in 1991 & 1992 respectively.
• Today, India is the 7th largest crude steel producer of steel in the world.
• In 2007-08(Apri-June''07), production of Finished (Carbon) Steel was 12.088
million tonnes(Prov).
• Production of Pig Iron in 2007-08(April-June'07) was 1.165 Million Tonnes
(Prov).
• The share of Main Producers (i.e SAIL, RINL and TSL) and secondary
producers in the total production of Finished (Carbon) steel was 33% and 67%
respectively during the period 2007-08 (April-June, 2007).
• Last 4 year's production of pig iron and finished (carbon) steel is given below:

(in million tonnes)


Category 2003- 2004- 2005- 2006-07 2007-08 (April-June'07)
04 05 06 (Provisional) (Prov.estimated)
Pig Iron 3.764 3.228 4.695 4.960 1.165
Finished 36.957 40.055 44.544 49.391 12.088
Carbon Steel
(Source: Joint Plant Committee)

Steel Prices

• Price regulation of steel was abolished on 16.1.1992. Since then steel prices
are determined by the interplay of market forces.
• There has been an up-trend in the domestic steel prices since 2006-07 and the
trend accentuated since January this year.
• Rise in raw material prices, strong demand in the international and domestic
market and up-trend in the global steel prices have been some of the reasons
cited by the industry for increase in the steel prices in the domestic market.
• The mismatch in demand and supply is considered to be the main reason on
the demand side for the rise in steel prices. Honourable Steel Minister has held
discussion with all major steel investors including Arcellor-Mittal, POSCO,
Tata Steel, Essar, Ispat and also SAIL, RINL to explore the possibility of
expediting the ongoing as well as envisaged steel projects.
• The Government also took various fiscal and other measures for stabilizing the
steel prices like exempting pig iron, non alloy steel and steel making inputs
like zinc, ferro-alloys and metcoke from customs duty; withdrawing DEPB
benefits on export of various categories of steel products and bringing back
railway freight on iron ore from classification 180 to 170 for domestic steel
producers.
• In May 2008, the Government imposed 15% export duty on semi-finished
products, and hot rolled coils/sheet, 10% export duty on cold rolled
coils/sheets and pipes and tubes and 5% export duty on galvanized steel in
coil/sheet form in order to further curtail rising prices and increase supply of
steel in the domestic market.

Imports of Steel

• Steel is freely importable as per the extant policy.

Last four years import of Finished (Carbon) Steel is given below:-


Year Qty. (In Million Tonnes)
2003-2004 1.540
2004-2005 2.109
2005-2006 3.850
2006-07(Prov. estimated) 4.100
2007-08 (Apr-June, 207) (Prov. 0.800
estimated)
(Source: JPC)

Exports of Steel

• Steel is freely exportable.


• Advance Licensing Scheme allows duty free import of raw materials for
exports.

• Duty Entitlement Pass Book Scheme (DEPB) introduced to facilitate exports.


Under this scheme exporters on the basis of notified entitlement rates, are
granted due credits which would entitle them to import duty free goods. The
DEPB benefit on export of various categories of steel items scheme has been
temporarily withdrawn from 27th March 2008, to increase availability in the
domestic market.
• Exports of finished carbon steel and pig iron during the last four years and the
current year is

(Qty. in Million Tonnes)


Finished (Carbon)
Steel
2002-2003 4.506
2003-2004 4.835
2004-2005 4.381
2005-2006 4.478
2006-
4.750
2007(Prov.estimated)
2007-2008(April-June
1.310
07) (Prov.estimated)

(Source : Joint Plant Committee)as :

Industry Structure

The Indian steel industry can be divided into two distinct producer groups: •

Major producers : Also known as Integrated Steel Producers (ISPs), this group
includes large steel producers with high levels of backward integration and capacities
of over 1 MT. Steel Authority of India Limited (SAIL), Tata Steel, Rashtriya Ispat
Nigam Limited (RINL), Jindal Vijayanagar Steel Limited (JVSL), Essar Steel and
Ispat Industries form this group.

SAIL, TISCO and RINL produce steel using the blast furnace/basic oxygen furnace
(BF/BOF) route that uses iron ore, coal/coke as the basic input mix for producing
finished steel.

Other major producers such as Essar Steel, Ispat Industries and JVSL use routes other
than BF/BOF for producing steel. . While Essar Steel and Ispat Industries employ
Electric Arc Furnace (EAF) route that uses sponge iron, melting scrap or a mix of
both as input, JVSL uses COREX, a revolutionary technology for making steel using
basically iron-ore and coal.

Other producers: This group consists of smaller stand-alone steel plants that include
producers and processors of steel.

Processors/Rerollers: Units producing small quantities of steel (flat/long products)


from materials procured from the market or through their own backward integration
system.
Stand alone units making pig iron and sponge iron.

Small producers using scrap-sponge iron-pig iron combination produce steel ingots
(for long products) using Electric Arc Furnace (EAF) or Induction Arc Furnace (IAF)
route.

The Major producers are strategic in nature and account for most of the mild steel
production in the country. The group produces most of the flat steel products in the
country including Hot Rolled, Cold Rolled and Galvanised steel. The majors also
produce a small proportion of Long products and other special steel being produced in
the country.

Other producers account for a majority of long products being produced in the
country and some of the value added flat steel products like cold rolled steel and
galvanized steel.

Types of Steel

All steel products are made from semi-finished steel that comes in the form of slabs,
billets and blooms. Though today there are over 3500 varieties of regular and special
steel available, steel products can be broadly classified into two basic types according
to their shape

Flat products

Derived from slabs this category includes plates and Hot Rolled Steel such as
Coils/Sheets. While plates are used for applications such as shipbuilding etc. HR Steel
is the most widely used variety of steel and other downstream flat products such as
Cold Rolled Steel and Galvanised steel are made from it.

HR Steel has a variety of applications in the manufacturing sector. It is primarily used


for making pipes and has many direct industrial and manufacturing applications,
including the construction of tanks, railway cars, bicycle frames, ships, engineering
and military equipment and automobile and truck wheels, frames and body parts. Cold
Rolled Steel is used primarily for precision tubes, containers, bicycles, furniture and
for use by the automobile industry to produce car body panels. Galvanised Steel is
used for making roofs in the housing and construction sector.

(Vide Flow chart I and II)

Long products

These products derive their name from their shape. Made using billets and blooms
they include rods, bars, pipes, ropes and wires, which are used largely by the
housing/construction sector. There are also other products like rail tracks in the
category. (Vide Flow chart I and II)

Semi finished steel is also used to produce other varieties of specialized steel such as
Alloy Steel.

Flow chart I: Blast furnace route for producing steel


Flow chart II: Electric Arc Furnace route of producing steel

Way forward for the Indian Steel Industry


"We still have a number of persons in our country in SAIL, TISCO and other big and
small steel plants who have the capabilities. They have the will to excel and transform
the country, given a long term vision."

"We should be ready to compete in outside markets…..If our steel industry gears up in
about 3 to 4 years, Indian steel can be both in Indian and foreign markets. Our vision
should be towards this."

- Indian 2020: A vision for the new millennium by APJ Adbul Kalam and YS Rajan

The Government envisions India becoming a developed nation by 2020 with a per
capita GDP of $1540. For a nation that is economically strong, free of the problems of
underdevelopment and plays a meaningful role in the world as befits a nation of over
one billion people, the groundwork would have to begin right now. The Indian Steel
Industry will be required and is willing to play a critical role in achieving this target.

With abundant iron ore resources and well-established base for steel production in the
country, steel is poised for growth in the coming decades. Production has increased
from 17 MT in 1990 to 36 MT in 2003 and 66 MT is targeted for 2011. While steel
will continue to have a stronghold in traditional sectors such as construction, housing,
ground transportation, special steels will be increasingly used in hi-tech engineering
industries such as power generation, petrochemicals, fertilisers etc. Steel will continue
to be the most popular, versatile and dominant material for wide ranging applications.
While India may not become a leader in world steel market, it can become a powerful
force.

• To help the Indian Steel Industry achieve its potential and play a meaningful
role in India’s development some steps need to be taken
• Steel is yet to touch the lives of millions of people in India. Per capita
consumption of steel in India is only 29 kg and has to go a long way to reach
consumption levels of around 400 kg in developed countries like USA and
world average of 140 kg.
• There is a need to continue the current thrust on infrastructure related activities
and extend them to rural India. Rural Indian today presents a challenge for
development of the country and the opportunity to increase usage of steel in
these areas through projects such as rural housing etc.

• Current shortage of inputs has pushed up the costs for the steel industry.
Government should ensure that quality raw material such iron-ore and coke
are available to the industry. With Ministry of Steel targeting an output of 100
MT of steel by 2020 there is an urgent need to develop raw material resources
for inputs like iron-ore and coal within or outside the country. Countries like
Japan have already taken similar steps to safeguard their industries.

• Adequate enabling infrastructure such as power, ports, roads, rail transport is


pre-requisite for the Indian steel industry to remain competitive.

• Government should not regulate prices and free market forces should
prevail.Intervention by the Government is only a short-term solution to the
issue of steel prices in the country. Once left alone, market dynamics will
automatically ensure price corrections and determine the optimum price of
steel.

• The Indian steel Industry is amongst the least protected in the world. While
developed countries have put numerous tariff and non-tariff barriers on steel
exports from the country, the domestic industry is exposed to cheaper imports
from competing nations. As in case of other important industries, the
Government should give reasonable levels of protection to the domestic steel
industry, which is just starting to get back on its feet.

• Industry should be allowed to have a fair return on investment and contribute


to the overall health of the Indian manufacturing segment. The steel industry
has invested a capital of over Rs 90, 000 crores. CRISIL in a recent study has
concluded that given the large exposure that banks and financial institutions
have to the steel industry, a healthy steel sector is in the interest of the
economy. Steel industry still continues to be unattractive for investors and a
recent study by CRIS INFAC suggests that any new projects with target price
below $270/MT will be economically unattractive.

• Today, Indian producers employ world-class standards of technology. Steel


from Indian finds growing acceptability in international markets. But despite
this India’s share in world trade steel is a miniscule 2%. Given the capabilities
of the Indian steel industry there is tremendous scope to increase this share
further. While the steel industry will continue servicing the domestic demand
there is a lot of untapped export potential with the industry. The Government,
in line with EXIM policy 2002-07, should take steps to make Indian exports
more competitive.
• China’s soaring demand (over the past five years China’s demand for flat steel
has risen at 17 percent as compared with just 2 percent for the rest of the
world: the growth rate in China’s demand for steel is expected to come down
to 8 percent during 2003 through 2010) which had revived the long term
suffering industry will eventually be satisfied by additional domestic capacity-
hardly a long term solution to the fundamental problem of worldwide capacity.
The basis for such a conclusion is the estimated lower cost of construction of
steel mills in China by some 30 to 50 percent than comparable facilities in the
developed world and the fact that currently the global flat steel industry has at
least 100 million tons of overcapacity. Add to this the worry of economists of
slower economic growth in China and the fact that the country can become a
net exporter with telling effects on future international prices. Adequate steps
must be taken right now to make the Indian steel industry more competitive in
order to meet these challenges. The Indian steel industry may not be able to
afford another crisis similar to he one between 1997-2001
Current Scenario

1. Indian economy growing @ 8 to 9 %, is one of the fastest growing economies


in the world.

2. Industrial prodn. showing encouraging trends. Index of industrial production


for Capital goods is growing @ 8.4% CAGR and growth in index for
consumer durables was @10.5% CAGR during 2005-06.

3. The 10th plan investment in infrastructure has been envisaged at around


Rs.880,550 crores.

4. The major sector wise anticipated investment is likely to be Rs.292000 crores


in Power, Rs.145000 crores in Roads & Bridges, irrigation Rs. 111000 crores.

5. During 11th plan (2007-08 to 2011-12), the projected investment towards


infrastructure is likely to be Rs. 2027000 crores, an increase of 180% over
10th plan.

6. Per capita steel consumption at 35 kg low as compared to world average of


150 kg. and 300kg for china.

7. National Steel Policy, as formulated by Indian Ministry of Steel envisages the


following -

i. Crude steel production of 110 million tones by 2019-20 at CAGR of 7.1%


from 2004-05.

ii. The demand of steel by 2020 is likely to be 90 million tones at CAGR of 6.9%
from 04-05.

iii. Steel exports by 2020 is likely to grow at CAGR of 13.3% from 04-05 to 26
million tones .
iv. Steel imports to the country by 2020 shall grow at CAGR of 7.1% from 04-05
to 6 million tones.

8. Lot of steel projects both brownfield and Greenfield likely to come up and are
in various stage of execution.

9. As per the news paper reports (Eco. Times dt.14-11-07), Steel Minister has
projected India's steel production to be around 124 million tones by 2012 and
a capacity of around 275 million tones by 2019-20.

10. During the year 06-07, India produced around 49 million tones of finished
steel which was higher by 11 % over 05-06.

11. Imports at 4.1 million tones during 06-07 was higher by 6.5%. Exports at 4.7
million tones grew by 6.1% during 06-07.

12. During 05-06 Iron ore exports at 84 million tones was almost at the previous
year's level of 87 million tones .

13. During April - Sept.'07 following has been the performance-

i. Crude steel prodn. at 25.7 million tones, exhibited a growth of 5 % over


corresponding period last year.

ii. Exports at 2.6 million tones shows an increase by around 8% over the same
period of last year.

iii. Imports were around 3.2 million tones which was an increase by 63% over
April-Sept'06.

14. Due to infrastructure focus, production of long products is gradually


increasing and ratio of flat to long products is narrowing.
15. During Ap-Sept'07 non flat steel produced at 12.4 million tones showed an
increase of around 9% over April-Sept'06.

16. In case of flat products prodn. during April-Sept'07 at 12.2 million tones was
almost at same level of last year.

17. Apparent Consumption of steel during April-Sept'07 was 22 million tones


which was an increase by 11 % over April-Sept'06. While long products (excl.
semis) at 12.3 million tones registered a growth of 9%, the flat products
consumption at 12.5 million tones indicated an increase of 12%.

18. With due focus on infrastructure development and strong economic indicators,
the demand for steel in India shall continue to remain robust.

COMPANY PROFILE

About Group
The company continued to upgrade/ expand the manufacturing facilities in tandem
with market feedback and presently have capacity to produce :-

 The company has commissioned Continuous Galvanising Line (CGL) having


annual capacity of 60,000 tonnes for the manufacture of G.P & G.C. Sheets
adjoining to its manufacturing line of Wider Width Cold Rolling at Doarha.
The main Raw Material required for this Galvanized project is Wider Cold
Rolled Steel Sheets which is being produced by our company itself at its
existing facilities at Rampura phul.

 1,00,000 tones annually CRCA, CRFH & Coils/Sheets upto 1000 mm width
and thickness varying from 0.12 mm to 2.00 mm.

 25000 M.T. CRCA Sheets annually up to 500 mm width and thickness ranging
from 0.38 mm to 5.00 mm.

 10,000 M.T. annually Hardened & Tempered/Cold Rolled Steel Strips in


thickness from 0.14 mm to 3.50 mm and width up to 450 mm.

Our Cold Rolled Steel Strips/Coils have now wide acceptance from both domestic and
overseas market segment of Cycle, Automobile, Hardware, Galvanizing, Containers,
General Engineering Industry.

Unit No.1

Consistent quality of narrow width Cold Rolled Steel Strips in the thickness ranging
from 0.38 mm to 5.00 mm and the width range up to 500 mm is being produced by 2
(two) 4 Hi Rolling Mills having production capacity of 25000 M.T. per annum at
company's Unit No.1 at C-122, phase V, Focal point, Ludhiana.
This unit caters to Automobile, General Engineering Sector, Cycle Industries &
Hardware.

Unit No.2
Our customer’s base has been expanded with the successful commissioning and
stabilizing of operations from Unit No. II of the company at Rampura phul,
Distt.Bathinda which is engaged in the manufacturing of wider width Cold Rolled
Steel Strips in the thickness range of 0.12 mm to 2.00 mm and width range up to 1000
mm. It has running production capacity of 1,00,000 MT per annum. The main
production shed of this plant spread over an area of 1,00,000 Sq.ft. A reversing 4 HI-I
HI Japan make Cold Rolling Mill, equipped with hydraulic AGC System &
Modernized PLC along with fully automated critical processes and auxiliary Lines.

COMPANY PROFILE

Date of Incorporation : 20th January, 1988

Annual Turn Over : Approx. Rs. 200 Crores

Authorized Capital : Rs.10,00,00,000/-

Listings : Bombay Stock Exchange Ltd.

Sh. Om Parkash JIndal Chairman (Non Executive)


Sh. Bharat Bhushan Jindal Managing Director
Sh. Mohan Lal Jindal Executive Director
Sh. Rajinder Kumar jindal Director
Sh. B. Mahajan Professional Director
Sh. Sanjay Goyal Professional Director
Regd Office & Unit 1:: C-122, Phase V, Focal Point, Ludhiana
Tel :: +91-161-2672446, 2673997, 5018243,
Fax :: 5027155
E-mail :: +91-161-5018244
stelco@satyam.net.in

Unit 2 :: G.T. Road, Rampura Phul, Bathinda.


Tel ::: +91-01651-30041, 220240

Mfg. of Steel Strips/ Steel Sheets / G.P. & G.C.Sheets

The Company has Presence both in national & international market

Code of conduct

All the Directors and the entire management personnel's are committed to conduct the
operations of the company to achieve goals in an impartial and objective manner with
ensuring that canons of honesty, transparency, integrity, accountability and openness
be the guiding force for all endeavours. Requisite care and diligence has to be ensured
in every policy & method with acting in this wise:'Does it square with what is right
and just.

No one should offer/ give or receive any pecuniary or other benefits in course
of discharge of his assignments. Personal activities and transactions should never
clash or cause conflict with the interest of the company. Disclosures should be made
about all the financial/ commercial transactions where exists personal interest that
may have a potential conflict with the interests of the company at large.

Regular and reliable information be timely disseminated to the stake


holders. The feed back form the customers, stakeholders and all business constituents
should be adhered to the greatest possible manner, thereby, gaining and holding their
loyalty and respect.

Products range
PRODUCT RANGE
COLD ROLLED STEEL COILS/ SHEETS
Thickness (mm) 0.12 to 4.0
Width (mm) 11 to 1050 (max)
Cut to Length (mm) 500 to 2500 mm with tolerance of +2/ -0 m
Coil Weight (MT) up to 18 MT
Surface Finish Super Bright, Bright, Dull & Matte
Specification - As per JIS/ BIS/ ASTM/ En Standards
Grades Low Carbon CRCA Grades
Super EDD/ EDD/ DD/ D
Medium & High Carbon CRCA Grade
C-30, C-40, MC11, MC12, HC14

H.R. PICKLED/ SKIN PASSED & OILED


Thickness Up to 4.00 mm
Width 1050 mm (max)

GALVANIZED STEEL COIL/ SHEETS


PLAIN CORRUGATED
Thickness (mm) 0.14 to 0.63 0.14 to 0.63
Width (mm) 11 TO 1000 602, 762, 800, 900, 1000
Surface Finish Regular & Min Spangle Regular Spangle
Grades Soft/ Lock forming Roofing

Total Quality Management

Stelco Ltd. is dedicated to customer’s satisfaction /service through total Quality


management. Quality in imbuse each dedicated individuals of Stelco to begin with
raw material in procurement & final inspection backed by fully equipped modern
laboratory.

At the same time Environment protection has always been our major concern. Latest
pollution control equipments have been installed along with thousands of samplings
planted in and around the area.

Company Philosophy on Code of Governance

Company is committed to the principles of transparency, integrity and accountability


in all dealings in pursuit of its organizational goals.
In pursuance of the above, the Board of Directors has constituted committee's to
implement its policies and guidelines and has set up adequate review systems for
exercising effective management control and ensuring compliance of laws. There is
adequate representation of independent directors on the board. We believe in timely
and transparent disclosure of information.
Our focus on sustainable growth, productivity improvement,
commitment to quality, self-discipline, value of time, safety in operations , total
customer's satisfaction is unrelenting

The company will continue its efforts towards raising the standards in Corporate
Governance and will also review its systems and procedures constantly in pace with
the changing economic environment.

Market

Stelco Limited has strategic advantage of being located in an industrial friendly area
of Rampua Phul Distt. Bathinda which itself is well known hub of Cold rolled Steel
Strips/Sheets with consumers ranging from cycle industry, automobile, hardware,
galvanized steel to containers and other engineering users. Moreover, it is having all
amenities for exports like Dry Port, export houses and banking channels.
We are having market perpetuation not in India but also in overseas market with
strategic tie ups with the direct corporate engineering manufacturers /users. Apart
from it, orders are also executed as received through dealer’s network in accordance
with customer’s specifications.

The exports have been directly by company’s own marketing wing or through reputed
indent agencies which presently cover the following countries:

• Austria
• China
• Tanzania
• Vietnam
• Nepal
• Philippine
• Sri Lanka
• Nigeria
• Indonesia

INTRODUCTION TO TOPIC

Job satisfaction
Definitions

Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of one’s job ); an affective reaction to one’s job ; and an attitude towards
one’s job . Weiss (2002) has argued that job satisfaction is an attitude but points out
that researchers should clearly distinguish the objects of cognitive evaluation which
are affect (emotion), beliefs and behaviours . This definition suggests that we form
attitudes towards our jobs by taking into account our feelings, our beliefs, and our
behaviors.

OBJECTIVES OF THE STUDY

Job satisfaction describes how content an individual is with his or her job.

The happier people are within their job, the more satisfied they are said to be. Job
satisfaction is not the same as motivation, although it is clearly linked. Job design
aims to enhance job satisfaction and performance, methods include job rotation, job
enlargement and job enrichment. Other influences on satisfaction include the
management style and culture, employee involvement, empowerment and
autonomous work groups. Job satisfaction is a very important attribute which is
frequently measured by organizations. The most common way of measurement is the
use of rating scales where employees report their reactions to their jobs. Questions
relate to rate of pay, work responsibilities, variety of tasks, promotional opportunities
the work itself and co-workers. Some questioners ask yes or no questions while others
ask to rate satisfaction on 1-5 scale (where 1 represents "not at all satisfied" and 5
represents "extremely satisfied").

History

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.

Scientific management (aka Taylorism) also had a significant impact on the study of
job satisfaction. Frederick Winslow Taylor’s 1911 book, Principles of Scientific
Management, argued that there was a single best way to perform any given work task.
This book contributed to a change in industrial production philosophies, causing a
shift from skilled labor and piecework towards the more modern approach of
assembly lines and hourly wages. The initial use of scientific management by
industries greatly increased productivity because workers were forced to work at a
faster pace. However, workers became exhausted and dissatisfied, thus leaving
researchers with new questions to answer regarding job satisfaction. It should also be
noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set the
tone for Taylor’s work.

Some argue that Maslow’s hierarchy of needs theory, a motivation theory, laid the
foundation for job satisfaction theory. This theory explains that people seek to satisfy
five specific needs in life – physiological needs, safety needs, social needs, self-
esteem needs, and self-actualization. This model served as a good basis from which
early researchers could develop job satisfaction theories.

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 much one values a given facet of work (e.g. the degree of
autonomy in a position) moderates how satisfied/dissatisfied one becomes when
expectations are/aren’t met. When a person values 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[citation needed]. 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
Self-evaluations 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[citation
needed]
.

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. Motivating factors are those aspects of the job that make
people want to perform, and provide people with satisfaction, for example
achievement in work, recognition, promotion opportunities. 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 Hackman & 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 criticised in that it does not
specify how motivating/hygiene factors are to be measured.

Job Characteristics Model

Hackman & Oldham proposed the Job Characteristics Model, which is widely used as
a framework to study how particular job characteristics impact on job outcomes,
including job satisfaction. The model states that there are five core job characteristics
(skill variety, task identity, task significance, autonomy, and feedback) which impact
three critical psychological states (experienced meaningfulness, experienced
responsibility for outcomes, and knowledge of the actual results), in turn influencing
work outcomes (job satisfaction, absenteeism, work motivation, etc.) . The five core
job characteristics can be combined to form a motivating potential score (MPS) for a
job, which can be used as an index of how likely a job is to affect an employee's
attitudes and behaviors----. A meta-analysis of studies that assess the framework of
the model provides some support for the validity of the JCM

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.

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.

Other job satisfaction questionnaires include: the Minnesota Satisfaction


Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The
MSQ measures job satisfaction in 20 facets and has a long form with 100 questions
(five items from each facet) and a short form with 20 questions (one item from each
facet). The JSS is a 36 item questionnaire that measures nine facets of job satisfaction.
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.

Variables and Measures

The overall job satisfaction levels of the Faculty members measured with the help of
five dimensions namely; Job, supervisor, coworkers, pay and promotion.

Information regarding faculty members' age, education, job level, foreign


qualification, numbers of years in organization, other sources of income, sex, and
marital status has also been obtained.(Shamail etal, 2004)

Relationships and practical implications

Job Satisfaction can be an important indicator of how employees feel about their jobs
and a predictor of work behaviours such as organizational citizenship, absenteeism ,
and turnover . Further, job satisfaction can partially mediate the relationship of
personality variables and deviant work behaviors.
One common research finding is that job satisfaction is correlated with life
satisfaction. This correlation is reciprocal, meaning people who are satisfied with life
tend to be satisfied with their job and people who are satisfied with their job tend to
be satisfied with life. However, some research has found that job satisfaction is not
significantly related to life satisfaction when other variables such as nonwork
satisfaction and core self-evaluations are taken into account .

An important finding for organizations to note is that job satisfaction has a rather
tenuous correlation to productivity on the job. This is a vital piece of information to
researchers and businesses, as the idea that satisfaction and job performance are
directly related to one another is often cited in the media and in some non-academic
management literature. A recent meta-analysis found an average uncorrected
correlation between job satisfaction and productivity to be r=.18; the average true
correlation, corrected for research artifacts and unreliability, was r=.30. Further, the
meta-analysis found that the relationship between satisfaction and performance can be
moderated by job complexity, such that for high-complexity jobs the correlation
between satisfaction and performance is higher (ρ=.52) than for jobs of low to
moderate complexity (ρ=.29). In short, the relationship of satisfaction to productivity
is not necessarily straightforward and can be influenced by a number of other work-
related constructs, and the notion that "a happy worker is a productive worker" should
not be the foundation of organizational decision-making.

With regard to job performance, employee personality may be more important than
job satisfaction. The link between job satisfaction and performance is thought to be a
spurious relationship; instead, both satisfaction and performance are the result of
personality
Review of Literature

Accession Number : ADA076456

Title : Job Satisfaction: Literature Review and Empirical Test of a Job Facet
Satisfactions Model.

Descriptive Note : Master's thesis,

Corporate Author : AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH


SCHOOL OF ENGINEERING

Personal Author(s) : Talbot,Terry Ray

Report Date : SEP 1979

Pagination or Media Count : 184


Abstract : The broad objective of this study was to examine the nature and causes of
job satisfaction. This was pursued through a literature review of the more popular
theories and models pertaining to job satisfaction. Included in the review are
summaries of Maslow's and Alderfer's need hierarchy theories, achievement
motivation theory, Herzberg's motivation-hygiene theory, expectancy theory, job
characteristics theories, discrepancy theory, equity theory, and studies relating to the
clustering of facet satisfactions. The specific objective of this research was to test the
efficacy of a three cluster model of facet satisfactions. This was accomplished through
a survey which was completed by 267 Air Force officers attending Squadron Officer
School and Air Command and Staff College. Conclusions reached by the study were
that for Air Force officers in the ranks of captain and major: 1. Job satisfaction is
higher for older oficers who have more time in the service. 2. There is no evidence of
a relationship between education level and job satisfaction. 3. Non-rated officers are
more satisfied with their jobs than rated officers. 4. Work environment facet
satisfactions are interpreted by employees to form three clusters: job properties,
interaction features, and organization policy variables. 5. The three clusters of facet
satisfactions vary in importance to overall job satisfaction with job properties being
most important and organization policies being least important. (Author)

Descriptors : *JOB SATISFACTION, MODELS, LITERATURE SURVEYS,


PERFORMANCE(HUMAN), THEORY, THESES, AIR FORCE PERSONNEL,
QUALITY, WORK, MOTIVATION, OFFICER PERSONNEL, QUESTIONNAIRES.

Subject Categories : PSYCHOLOGY


PERSONNEL MANAGEMENT AND LABOR RELATIONS

Distribution Statement : APPROVED FOR PUBLIC RELEASE

The Job-Satisfaction/ Life-Satisfaction Relationship: A Review of


Empirical Research

Authors: Robert W. Rice; Janet P. Near; Raymond G. Hunt


DOI: 10.1207/s15324834basp0101_4
Publication Frequency: 4 issues per year

Published in: Basic and Applied Social Psychology, Volume 1, Issue 1 March 1980 ,
pages 37 - 64
Abstract
After a brief discussion of the nature and importance of work, this article reviews
empirical research that relates satisfaction with work to satisfaction with life. The
review covers more than 350 job-satisfaction/life-satisfaction relationships reported in
23 studies that vary widely in terms of the sample, instrumentation, and date of
survey. For more than 90% of the cases, the direction of this relationship is positive;
and none of the scattered negative relationships is statistically reliable. The magnitude
of the reported zero-order relationship between job satisfaction and overall life
satisfaction is typically modest, with correlations mostly in the mid-.30's for males
and mid-.20's for females. The typical job-satisfaction/life-satisfaction correlation
drops to the low teens when specific facets of life satisfaction, such as marital or
leisure satisfaction, are used instead of overall life satisfaction. Discussion of these
findings focuses on conceptual and methodological concerns at the more general level
of the relationship between work and nonwork.

The case against job satisfaction - a satisfied worker is not necessary


a productive worker

Since the widely renowned Hawthorne studies of the 1920s and 1930s, the working
hypothesis of the human relations movement in management has consistently
proposed that the satisfied worker is a productive worker. In the past six decades,
thousands of scholarly studies have used worker satisfaction as a central research
variable. But this flood of research has offered scant support to the proposition that a
satisfied worker is a superior producer. The original Hawthorne studies have
themselves been subject to radical criticism in that span of time. So it is perhaps time
to review the relevance of worker satisfaction as industrial policy.

For nearly four decades, leading social scientists have observed that worker
satisfaction is, at best, related to work productivity at only a trivial level of statistical
correlation. Victor Vroom's 1964 estimate of an average correlation of 0.14
characterizes the typical quantified research result available in the literature. This
magnitude of correlation implies that no more than 2 percent of the variance in output
can be accounted for by worker satisfaction. Various other researchers along the way
have observed that causality may as readily flow from high productivity to
satisfaction as in the opposite direction. Even the limited relationship of satisfaction
and work output that is found offers scant comfort to those seeking confirmation of
the "satisfied worker is a productive worker" hypothesis. It certainly leaves much to
be desired as a foundation for organizational policy formulation in support of high-
performance management systems.

RESEARCH EVIDENCE CONCERNING JOB SATISFACTION

The job satisfaction research literature has been thoroughly reviewed at intervals of
about a decade in the past half century. Brayfield and Crockett (1955), Vroom (1964),
and Locke (1976) each summarized the field extensively and observed the limited
influence of satisfaction on work output. After 1973, as job satisfaction research
mutated into the Quality of Work Life movement, concern among serious scientists
with job satisfaction as a major research paradigm faded. In his 1984 review of
organizational behavior for the Annual Review of Psychology, Barry Staw dismissed
attitude surveys and satisfaction measures as "throw-away variables," characterizing
the field as dominantly correlational in method and "rather atheoretical." In scientific
terms, this was the equivalent of consigning it to irrelevance.

Nevertheless, continuing the tradition of once-a-decade revisits to the subject,


Iaffaldano and Muchinsky (1985) updated the job satisfaction literature. They

confirmed the limited causal relationship between worker satisfaction and work
output, lamenting that "empirical support for the satisfaction-performance relation
does not approximate the degree to which this relation has been espoused in theories
of organizational design." With so much disconfirmation, it would seem that the
presumed relation of job satisfaction and work performance should long ago have
been left behind as a dead-end issue.

Even if satisfaction and work performance are unrelated, though, many research
findings remain that suggest continuing business relevance in the assessment of
worker satisfaction. The extensive literature available contains potentially informative
findings concerning job satisfaction that merit mention. It will be useful to summarize
the findings this vast body of research has yielded in its stormy, politicized history,
then take a fresh look at the meaning of worker satisfaction for management practice
and theory.

The reviews of Vroom and Locke survey the relevant research findings concerning
job satisfaction rather fully. The following discussion of job satisfaction correlates
draws heavily on their review summaries as well as on the experience and
observations of this writer. Readers seeking more detail about job satisfaction research
might do well to directly reference the sources cited at the conclusion of this article.

TURNOVER AND ABSENTEEISM AMONG DISSATISFIELD WORKERS

The easiest starting point for summarizing the effects of job satisfaction on worker
behavior is with those issues that have been consistently related to workers'
expression of satisfaction or dissatisfaction with their jobs. These are turnover and
absenteeism.

Dissatisfaction is consistently associated with higher levels of labor turnover. Those


workers who are most dissatisfied also exhibit a higher frequency of absence. The
explanation most frequently offered for this correlation is the likelihood that people
escape, even if only temporarily, from unpleasant work circumstances. The
correlations found, though, are typically moderate and by no means explain all of the
variability in observed absence or turnover rates. Many other factors are also
influential here.

Absences, for instance, often increase around holidays. Indeed, the tendency is so
common that many employers require advance permission for absences or actual
attendance on the work days immediately preceding and following the holiday as a
condition for receiving holiday pay. Absences are also known to increase with
alcoholism, addiction, and poor health. The most common basis of separation for
cause is excessive absenteeism, and the major cause of these absences is the physical
inability to be at work. Absences may also be the result of dissatisfactions outside the
workplace that have nothing to do with one's job. Thus, while absences and
dissatisfaction are sometimes statistically correlated, costly and extensive redesign of
work to increase satisfaction with the purpose of reducing absenteeism would be
difficult to justify in many if not most instances.
RESEARCH METHODOLOGY

Research is defined as human activity based on intellectual application in the


investigation of matter. The primary aim for applied research is discovering,
interpreting, and the development of methods and systems for the advancement of
human knowledge on a wide variety of scientific matters of our world and the
universe. Research can use the scientific method, but need not do so..

. Research processes

Generally, research is understood to follow a certain structural process. Though step


order may vary depending on the subject matter and researcher, the following steps
are usually part of most formal research, both basic and applied:

• Formation of the topic


• Hypothesis
• Conceptual definitions
• Operational definitions
• Gathering of data
• Analysis of data
• Test, revising of hypothesis
• Conclusion, iteration if necessary

A common misunderstanding is that by this method a hypothesis can be proven or


tested. Generally a hypothesis is used to make predictions that can be tested by
observing the outcome of an experiment. If the outcome is inconsistent with the
hypothesis, then the hypothesis is rejected. However, if the outcome is consistent with
the hypothesis, the experiment is said to support the hypothesis. This careful language
is used because researchers recognize that alternative hypotheses may also be
consistent with the observations. In this sense, a hypothesis can never be proven, but
rather only supported by surviving rounds of scientific testing and, eventually,
becoming widely thought of as true (or better, predictive), but this is not the same as it
having been proven. A useful hypothesis allows prediction and within the accuracy of
observation of the time, the prediction will be verified. As the accuracy of observation
improves with time, the hypothesis may no longer provide an accurate prediction. In
this case a new hypothesis will arise to challenge the old, and to the extent that the
new hypothesis makes more accurate predictions than the old, the new will supplant
it.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE
Primary objective of study is to determine the level of satisfaction among employees.

Secondary objective
• To make plan to induce greater satisfaction
• To identify variables which have a significant impact on the satisfaction of emloyees.
RESEARCH DESIGN
Research Design is an arrangement of conditions for collection and analysis of data in
a manner that aims to combine relevance to the research purpose with economy in
procedure. A good research design has the chracterstics viz problem definition.
Specifis method of data collection and analysis, a research design is purely and simply
the frame work or planned for a study that guodes the collection and analysis of data.
The research design includes the following :
1. Data collection methods
2. Research instrument
3. Sampling Design

DATA COLLECTION METHODS


There are two ways of collecting data
1. Primary
2. Secondary

PRIMARY :
Primary data is the first hand data, which do not exist in any records or publication.
Primary data can be collected by Qustionnaire, personal interviews.

SECONDARY :
Secondary data are those data, which already exists, records and publications. This
information is already available in a complied and processed form.
For this project Primary data was used by means of questionnaire.

RESEARCH INSTRUMENT
As personal interview method is used for collecting primary data, questionnaire is
research instrument.
A closed ended questionnaire was designed to satisfy the research objectives.

SAMPLING DESIGN
Population : Employees of Stelco Ltd.
Sample Size : 35
Sampling unit : Managers and Employees of Stelco Ltd.

Scope of the study

Regional Scope: The research has been conducted with employees who are working
with STELCO LTD.
Respondent Scope:

LIMITATIONS OF THE STUDY


 The response of the employees was biased in certain questions and some of the lime
vague answers were given due to which proper analysis could not be made.
 Closing of financial year made get in touch with employees at all levels of management
difficult.
 Hesitation of employees to disclose company’s policies openly.
DISCUSSION & INTERPRETATION

Q1 .Are you satisfied with nature of the job ?

Table no: 1
Parameters No. of Respondents Percentage
Very satisfied 14 40
Satisfied 16 45.71
Neither satisfied nor 4 11.42
dissatisfied
Low 1 2.85
Very Low 0 0
Chart no: 1

3%
very satisfied
12% 0%

satisfied
40%
neither satisfied nor
dissatisfied
dissatisfied

very dissatisfied
45%

Interpretation:
With reference to our chart no.1, we can conclude that, 40% of employees are very satisfied with
the nature of job while 45% of employees in the organization are satisfied, 12% are neither
satisfied nor dissatisfied, 3% of them are dissatisfied.

Q2. Are you satisfied with information flow around the organization ?

Table no: 2
Parameters No. of Respondents Percentage
Very satisfied 5 14.28
Satisfied 26 74.28
Neither satisfied nor 3 8.57
dissatisfied
Low 1 2.85
Very Low 0 0

Chart no:2
3% 0%
14% very satisfied
9%
satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

74%

Interpretation:
With reference to chart no-2, we can conclude that, 14% of the employees in the organization are
very satisfied with the information flow in the organization, 74% of employees are satisfied
while 9% of them are neither satisfied nor dissatisfied and only 3% of them are dissatisfied.

Q3. Are you satisfied with relationship with other people at work ?

Table no: 3

Parameters No. of Respondents Percentage


Very satisfied 16 45.71
Satisfied 14 40
Neither satisfied nor 5 14.28
dissatisfied
Low 0 0
Very Low 0 0

Chart no: 3
0%
very satisfied
14% 0%

satisfied

46% neither satisfied nor


dissatisfied
dissatisfied

40% very dissatisfied

Interpretation
With reference to chart no-3, we can conclude that, 46% of the employees maintain very good
relation among themselves, while 40% of them are satisfied and only 14% of them are neither
satisfied nor dissatisfied.

Q4. Are you satisfied with way changes and innovations are implemented in your
orgnisation ?

Table no:4
Parameters No. of Respondents Percentage
Very satisfied 7 20
Satisfied 18 51.42
Neither satisfied nor 9 25.71
dissatisfied
Low 1 2.85
Very Low 0 0

Chart no:4
0%
very satisfied
3% 20%
26% satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

51%

Interpretation
With reference to chart no-4, we can conclude that, 20% of the employees are very satisfied with
the innovations and changes implemented in the organization ,while 51% of the employees are
satisfied, 26% of them are neither satisfied nor dissatisfied, and only 3% of them are dissatisfied.

Q5. Are you satisfied with kind of work or task requires performing in job?

Table no:5

Parameters No. of Respondents Percentage


Very satisfied 6 17.14
Satisfied 19 54.28
Neither satisfied nor 10 28.57
dissatisfied
Low 0 0
Very Low 0 0

Chart no:5
0% very satisfied
17%
29% satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

54%

Interpretation
With our reference to chart no-5, we can conclude that, 17% of the employees are
very satisfied with the task to be performed in the organization, while 54% of them
are satisfied, and 295 of them are neither satisfied nor dissatisfied.

Q6. What is degree of personal growth in your organization?

Table no:6

Parameters No. of Respondents Percentage


Very satisfied 6 17.14
Satisfied 13 37.14
Neither satisfied nor 11 31.42
dissatisfied
Low 5 14.28
Very Low 0 0
Chart no: 6

0%
14% 17%

very high
high
neither high nor low
low
31% very low

38%

Interpretation
With reference to chart no-6, we can conclude that, 17% of the employees think that degree of
personal growth is very high, while 38% of them think that degree is high, and 31% think that it
is neither high nor low, only 14% of them think that degree is low.

Q7 Are you satisfied with the manner in which conflicts are resolved in organizations?

Table no:7

Parameters No. of Respondents Percentage


Very satisfied 2 5.71
Satisfied 17 48.57
Neither satisfied nor 12 34.28
dissatisfied
Low 4 11.42
Very Low 0 0

Chart no: 7
0%
11% very satisfied
6%
satisfied

neither satisfied nor


dissatisfied
34% dissatisfied
49%
very dissatisfied

Interpretation
With reference to chart no-7, we can conclude that, 6% of the employees are very
satisfied with the manner in which the conflicts are resolved in the organization, while
49% of the employees are satified, and 34% of them neither satisfied nor dissatisfied,
only 11% of them are dissatisfied.

Q8. What is amount of participation of employees in management decision making?

Table no:8

Parameters No. of Respondents Percentage


Very satisfied 2 5.71
Satisfied 12 34.28
Neither satisfied nor 13 37.14
dissatisfied
Low 6 17.14
Very Low 2 5.71

Chart no: 8
6% 6%

17% very high


high
34% neither high nor low
low
very low

37%

Interpretation
With reference to chart no-8, we can conclude that 6% of employees think that there participation
in decision making is very high, while 34% of the employees think that there involvement is
high, 37% of them think that it is neither high nor low ,and 17% of them think it is low, only 6%
of them think that it is very low.
Q9 .Salary relative to experience ?

Table no:9

Parameters No. of Respondents Percentage


Very satisfied 12 34.28
Satisfied 16 45.71
Neither satisfied nor 6 17.14
dissatisfied
Low 1 2.85
Very Low 0 0

Chart no: 9
3%
very satisfied
0%
17%
satisfied
34%
neither satisfied nor
dissatisfied
dissatisfied

very dissatisfied

46%

Interpretation
With reference to chart no-9, we can conclude that, 34% of the employees are very satisfied with
the salary related to experience, while 46% of the employees are satisfied, and 17% of them are
neither satisfied nor dissatisfied, only 3% of them are dissatisfied.

Q10 . Bonus Plan ?

Table no:10

Parameters No. of Respondents Percentage


Very satisfied 4 11.42
Satisfied 15 42.85
Neither satisfied nor 15 42.85
dissatisfied
Low 1 2.85
Very Low 0 0
Chart no: 10

0%
11% very satisfied
3%

satisfied

neither satisfied nor


43% dissatisfied
dissatisfied
43%
very dissatisfied

Interpretation
With reference to chart no-10, we can conclude that 11% of the employees are very satisfied with
the bonus plan, while 43% of them are satisfied, and 43% of them are neither satisfied nor
dissatisfied, only 3% of them are dissatisfied.

Q11..Promotion Avenues ?

Table no:11

Parameters No. of Respondents Percentage


Very satisfied 6 17.14
Satisfied 19 54.28
Neither satisfied nor 9 25.71
dissatisfied
Low 1 2.85
Very Low 0 0

Chart no: 11
0%
very satisfied
3% 17%
26% satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

54%

Interpretation
With reference to chart no-11, we can conclude that, 17% of the employees are very satisfied
with the promotion avenue , while 54% of the employees are satisfied, and 26% are neither
satisfied nor dissatisfied, only 3% of them are dissatisfied.

Q12. Casual leaves/Earned leaves ?

Table no:12

Parameters No. of Respondents Percentage


Very satisfied 7 20
Satisfied 19 54.28
Neither satisfied nor 9 25.71
dissatisfied
Low 0 0
Very Low 0 0

Chart no: 12
0%
0%
very satisfied
20%
26%
satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

54%

Interpretation
With reference to chart no-12, we can conclude that, 20% of employees are very satisfied with
the leave system followed in there organization, while 54% of them are satisfied, and only 26%
of them are neither satisfied nor dissatisfied.

Q13. Mental satisfaction ?

Table no:13

Parameters No. of Respondents Percentage


Very satisfied 9 25.71
Satisfied 15 42.85
Neither satisfied nor 11 31.42
dissatisfied
Low 0 0
Very Low 0 0

Chart no: 13
0%
0% very satisfied
26%
31% satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

43%

Interpretation
With reference to the chart no-13, we can conclude that, 26% of the employees are very much
mentally satisfied, while 43% of them are satisfied.and 31% of them are neither satisfied nor
dissatisfied.

Q14. Canteen ?

Table no: 14

Parameters No. of Respondents Percentage


Very satisfied 2 5.71
Satisfied 23 65.71
Neither satisfied nor 5 14.28
dissatisfied
Low 5 14.28
Very Low 0 0

Chart no: 14
0%
very satisfied
14% 6%
satisfied

14% neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied
66%

Interpretation

With reference to chart no-14, 6% of employees are very satisfied with the canteen system in
their organization ,while 66% of the employees are satisfied, and 15% of the employees think
that it is neither high nor low, and 15% of them are dissatisfied.

Q15. Performance Appraisal ?

Table no:15

Parameters No. of Respondents Percentage


Very satisfied 5 14.28
Satisfied 21 60
Neither satisfied nor 7 20
dissatisfied
Low 2 5.71
Very Low 0 0

Chart no: 15
0%
14% very satisfied
6%

20% satisfied

neither satisfied nor


dissatisfied
dissatisfied

very dissatisfied

60%

Interpretation
With reference to chart no-15, 14% of the people are satisfied with the performance appraisal
system followed in their organization, while 60% of the employees are satisfied, and 20% of the
employees are neither satisfied nor satisfied, and 6% of the employees are dissatisfied.

Q16. Training and Development ?

Table no:16

Parameters No. of Respondents Percentage


Very satisfied 3 8.57
Satisfied 15 42.85
Neither satisfied nor 11 31.42
dissatisfied
Low 6 17.14
Very Low 0 0

Chart no: 16
0% 9% very satisfied
17%
satisfied

neither satisfied nor


dissatisfied
dissatisfied
43%
31%
very dissatisfied

Interpretation
With reference to the chart no-16, we can conclude that, 9% of the employees are fully satisfied
with the training that they are provided, while 46% of them are just satisfied, and 31% of the
employees are neither satisfied nor dissatisfied,17% of the employees are dissatisfied.

SUGGESTIONS AND RECOMENDATION

• In both the organization very less employees are extremely satisfied with the reward
system of their organization, majority of employees are just satisfied with the reward
system, so organization should focus on reward system to increase the morale of the
employees.
• Effect should be made on the part of employee. So that they can identify with
objectives of orgnisations.
• Degree of motivation should be increased.
• Implementations of changes and innovations should de properly done.
• More oppurtunities should be provided to increase scope of job i.e, worker should
be given chance to man his own job.
• There should be proper adoption and maintenance of well planned and effective
communication system throughout the orgnisation at all levels.
• Answers ideas of suggestions should be properly listened and should be given
proper r consideration.
• The house orgnisation magazines should contain coloums for suggestions from
workers.
• More non-monetary and modelers awareness should be given to employees.
• Employees should be given more participation in decision making.
• More flexibility and freedom should be there in job.

CONCLUSION

BIBLIOGRAPHY

The following books have been referred:


• Kothari C.R., research methodology 2nd ed., New Delhi: New Age
International(P)Limited, 1985.
• Rao, VSP, Human Resourse Management, 1st ed., New Delhi: Excel Books,
2000.

And following Websites are followed:

www.indianindustry.net
www.infoindia.com
www.google.com
www.steelindustry.com
www.wikipedia.org

ANNEXURE
QUESTIONNAIRE

SURVEY ON JOB SATISFACTION OF STELCO LTD.

Questions:

Q.1 Are you satisfied with nature of the job ?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.2 Are you satisfied with information flow around the organization ?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.3 Are you satisfied with relationship with other people at work ?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.4 Are you satisfied with way changes and innovations are implemented in your orgnisation ?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.5 Are you satisfied with kind of work or task requires performing in job?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.6 What is degree of personal growth in your organization?

a) Very high ……
b) High ……
c) Neither high nor low ……
d) Low ……
e) Very Low ……

Q.7 Are you satisfied with the manner in which conflicts are resolved in organizations?

a) Very satisfied ……
b) Satisfied ……
c) Neither satisfied nor dissatisfied ……
d) Dissatisfied ……
e) Very dissatisfied ……

Q.8 What is amount of participation of employees in management decision making?

a) Very high ……
b) High ……
c) Neither high nor low ……
d) Low ……
e) Very low ……

S.no Parameter Very Satisfied Neither Dissatisfied Very


satisfied satisfied dissatisfied
Nor
dissatisfied
Q.9 Salary
relative to
experience
Q.10 Bonus Plans
Q.11 Promotion
avenues
Q.12 Casual
leaves/Earned
leaves
Q.13 Mental
satisfaction
Q.14 Canteen
Q.15 Performance
Appraisal
Q.16 Training and
Development

PERSONAL DETAIL :

NAME: ……………………..
GENDER: …………..
CONTACT NO: …………………
ADDRESS OF COMMUNICATION: ……………………………………………………………..