Quality of Work Life4, Lav

A STUDY ON
QUALITY OF WORK LIFE

AT
networth stock broking ltdS
QUALITY INDIA LIMITED.
Submitted in Partial fulfillment of requirement for the Award of
MASTER OF BUSINESS ADMINISTRATION

By
R.VIJAY
(H.No: )
Under the guidance of
……………….
Department of Management
OSMANIA UNIVERSITY
Hyderabad – 500007.
………………. COLLEGE
(Affiliated to Osmania University & Approved by AICTE).
DECLARATION
1
I hereby declare that this project report entitled “QUALITY OF WORK LIFE”
submitted by me to the Department of Business Administration, ……….College, is a
bonafide work undertaken by me and it is not submitted to any other university or
institute for the award of any degree/diploma certificate or published any time before.
……. Signature of the Student
2
ACKNOWLEDGEMENT
No task however small it may be, can be completed without proper guidance and
encouragement. This acknowledgement transcends the reality and formality.
I would like to express my deep gratitude to all those people behind the screen
who have helped me to complete my project.
I am sincerely thankful to K.VINAYA Assistant trainee Manager-HR, for
allowing me to pursue a project in their organization and extending their kind cooperation
during the project.
I am very thankful to,…………, Head of the department and also my internal
guide, for her excellent guidance and cooperation during the project.
I am very thankful to the employees of the Networth stock broking ltd to make me
feel among them and for their excellent cooperation.
I am very thankful to my family members for their co-operation during the
project.
Name of the stu
3
ABSTRACT
The study is about QUALITY OF WORK LIFE which refers to the favorableness
or unfavorable ness of a job and environment for the people. QUALITY OF WORK
LIFE is not only important for growth and employment of individuals but also for
sustainable and comparative economy.
The study is to find out whether employees of Networth stock broking ltd are
having a good Quality of Work Life or not. There by to know the satisfaction of
employees and their impact on productivity.
The methodology which was implemented was to collect data by questionnaire

and observation and by referring websites and books.
Finally the conclusion is Quality of work life at networth stock broking ltd is
satisfactory to the employees. Work environment in the networth stock broking ltd is very
effective and the performance of the employees is high. Employees are very much
satisfied with the quality of work and are benefited in all aspects of their physical and
psychological needs. The work culture and the environment are conducive to work.
People feel like family, while doing the work, as a quality of work life brings them to
work collectively and be responsible to each other.
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CONTENTS
Page No.
LIST OF TABLES i
LIST OF CHARTS ii
CHAPTER ONE: INTRODUCTION 1-8
1.1 Need and Importance of the study
1.2 Objectives of the study
1.3 Research methodology
1.4 Scope of the study
1.5 Limitations of the study
CHAPTER TWO: COMPANY PROFILE 9-22
CHAPTER THREE: REVIEW OF LITERATURE 23-34
CHAPTER FOUR: QWL AT NETWORTH STOCK BROKING LTD
35-40
CHAPTER FIVE: DATA ANALYSIS & INTERPRETATION 41-64
CHAPTER SIX: 65-68
5
FINDINGS
CONCLUSION
SUGGESTIONS
CHAPTER SEVEN: 69-73
BIBLIOGRAPHY
ANNEXURE
LIST OF TABLES
SL.NO. TABLE NAME Page no.

1. Working for NSBL 42
2. Work Environment 43
3. Working Conditions 44
4. Co-Operation 45
5. Comments & Suggestions 46
6. Harmonious Relations 47
7. Co-Operations 48
8. Training Programmes 49
9. Improving Relationship
Among employees 50
10. Programme Ratings 51
11. Classroom/Seating
Arrangement 52
12. Audio Visual Arrangement 53
13. Quality of Lunch 54
14. Traveling Facilities 55
15. Adequate and Fair
Compensation 56
16. Pay by Considering
6
Responsibilities at Work 57
17. Linking Rewards to
Performance 58
18. Fringe Benefits 59
19. Social Security Benefits 60
20. Comfort and Satisfaction 61
21. Secure abut Job 62
22. Freedom of Work 63
23. Adequacy of Resources 64
i
LIST OF CHARTS
SL.NO. CHART NAME Page no.
1. Working for NSBL 42
2. Work Environment 43
3. Working Conditions 44
4. Co-Operation 45
5. Comments & Suggestions 46
6. Harmonious Relations 47
7. Co-Operations 48
8. Training Programmes 49
9. Improving Relationship
Among employees 50
10. Programme Ratings 51
11. Classroom/Seating
Arrangement 52
12. Audio Visual Arrangement 53
13. Quality of Lunch 54
14. Traveling Facilities 55
15. Adequate and Fair
Compensation 56
16. Pay by Considering
7
Responsibilities at Work 57
17. Linking Rewards to
Performance 58
18. Fringe Benefits 59
19. Social Security Benefits 60
20. Comfort and Satisfaction 61
21. Secure abut Job 62
22. Freedom of Work 63
23. Adequacy of Resources 64
CHAPTER-1
INTRODUCTION
8
1.1 NEED AND IMPORTANCE OF THE STUDY:
QUALITY OF WORK LIFE is most debated topic both by employers and

employees. One of the reasons for its growing importance could be realization on the part
of employees about the mercy of management for their existence. Though still monetary
benefits occupy the first place in the list of elements of quality of work life, other
elements like physical working condition, job restructuring and redesign, career
development, promotional opportunities etc., are gaining importance rapidly. As such the
workers expect management to provide Quality of Work Life by providing all these
facilities.
As the significance of human resources being established many new sub-systems

are being added to human resource management. These sub-systems meet the changing
needs of employees, their culture and expectations and work environment. One such new
area is ‘QUALITY OF WORK LIFE’. Management will fail to measure the impact of
improved Quality of work life on the psyche of the employee, though all employees
basically aspire for satisfaction of employees.
Employees on the other hand resist to changes, with preconceived notion that any
scheme, the management takes up would be to increase production without extra cost.
Quality of work life enters into all major parts of human resources management. Its
significance is to be duly identified and should be given importance. The study is made
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for to measure Quality of work life and to know the effectiveness of this factor on the
organization.
Importance of the study is to achieve main greater human satisfaction, improving

productivity, adaptability and overall effectiveness of the organization and to learn new
values and attitudes.
Therefore, it is very important to identify the need of Quality of work life in an

organization. The study has been conducted to know how far the Quality of work life
approach is applicable in health care industry and to find out the expectations of the
employees from the organization. It is worth noting that often the conditions that
contribute to motivation will also contribute to Quality of work life. Some of the
activities like job enrichment might contribute indirectly to Quality of work life by
tapping the workers higher-order needs, and motivating them. Other activities may
directly contribute to Quality of work life providing for a safer work place, less
discrimination on the job and so forth.
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1.2 OBJECTIVES OF THE STUDY:
The QUALITY OF WORK LIFE is an important aspect to ascertain the causes

for high or low employee productivity. The survey/study was conducted with the
following objectives.
1. To find the employees perception with regard to the work environment.

2. To study about the various benefits offered to the employees and to know their
degree of satisfaction.
3. To know about the compensation and rewards system in the organization.
4. To analyze various training and development programmes offered to their
employees.
5. To know the level of coordination and cooperation among the employees.
6. To know about the resources provided by the organization.
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1.3 RESEARCH METHODOLOGY:
For the purpose of studying quality of work life at NSBL, a small scale survey
was made using the information provided by the organization.
The following are the stage through which the research has passed to obtain the
conclusions.
1. Define the research problem
2. Review the literature
3. Research design
4. Collection of data
5. Analyze data
6. Interpret data
7. Report the data
The literature provided by the company helped to understand the company’s
inclination towards employees’ welfare.
RESEARCH DESIGN:
Research design is the conceptual structure with which research would be
conducted. The function of the research design is to provide for the collection of relevant
evidence with minimal expenditure of efforts, time and money. The suitable design is the
one that minimizes bias and maximizes the reliability of the data collected and analyzed.
SAMPLE SIZE:
A sample size of 50 was taken which includes employees from various
departments’ officers and workmen. And total employees in networth stock broking
ltd(NSBL) are 50.
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SAMPLING TECHNIQUE:
The technique used to carry out the study is simple sampling technique.
DATA COLLECTION:
For the purpose of the study the following sources of data are used.
They are:
1. Primary data
2. Secondary data
PRIMARY DATA:
Primary data is defined as the data collected fresh for the first time and thus
happens to be original in character, with reference to this study.
Primary data is collected through:
• Questionnaire
• Observation
QUESTIONNAIRE:
Questionnaire is prepared and circulated to the employees to know their opinion
on the “QULITY OF WORK LIFE” procedures in the organization.
OBSERVATION:
Observations were done during the visit to the organization.
SECONDARY DATA:
Secondary data is defined as the data which are already available i.e., they refer to
the data, which have already been collected and analyzed by some one else.
Secondary data is gathered from the organization.
SOURCES OF SECONDARY DATA:

Sources of secondary data are as follows. They are:
• Published sources
• Unpublished sources i.e., information about the performance of the company.
• Books
• Websites
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1.4 SCOPE OF STUDY:
The scope of QUALITY OF WORK LIFE in an organization is very vast but this
study under taken at NSBL has been focused solely on work environment, compensation
and rewards, relation and cooperation, training and development, benefits.
The sample size consist of 50 employees who belong to various departments like
• Finance and Accounts

• Human resources
• Projects management
And selected employees from three different cadres i.e., executives, junior executives and
managers.
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1.5 LIMITATIONS OF STUDY:
• Respondents may not provide accurate information due to various reasons.

• Ignorance of respondents may cause lack of actual information.
• As the respondents were chosen at random we cannot take it for granted that the
data obtain is a representation of all the employees.
• Time is a major constraint.
• The study is purely based on information given by respondents. So, its accuracy is
doubtful.
• The employee’s condition at the time of filling the questionnaire will also reflect
the responses given.
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Company profile
A world of intelligent investing
16
COMPANY PROFILE
Incorporated in 1993, Net worth Stock Broking Limited (NSBL) has been a listed
company at Bombay Stock Exchange (BSE), Mumbai since 1995.
A Member, at the National Stock Exchange of India (NSE) and Bombay Stock Exchange,
Mumbai (BSE) on the Capital Market and Derivatives (Futures & Options) segment,
NSBL has been traditionally servicing Institutional clients and in the recent past has
forayed into retail broking, establishing branches across the country. Presence is being
marked in the Middle East, Europe and the United States too, as part of our attempts to
cater to global markets. We are a Depository participant at Central Depository Services
India (CDSL) with plans to become one at National Securities Depository (NSDL) by the
end of this quarter. We have our customers participating in the booming commodities
markets with our membership at the Multi Commodity Exchange of India (MCX) and
National Commodity & Derivatives Exchange (NCDEX), through Networth Stock.Com
Ltd. With its strong support and business units of research, distribution & advisory,
NSBL aims to become a one-stop solution to the broking and investment needs of its
clients, globally.
Strong team of professional’s experienced and qualified pool of human resources

drawn from top financial service & broking houses form the backbone of our sizeable
infrastructure. Highly technology oriented, the company’s scalability of operations and
17
the highest level of service standards has ensured rapid growth in the number of locations
& the clients serviced in a very short span of time. ‘Networthians’, as each one of our 400
plus and ever growing team members are addressed, is a dedicated team motivated to
continuously progress by imbibing the best of global practices, Indian sing
such practices, and to constantly evolve a comprehensive suite of products &
services trying to meet every financial / investment need of the clients.
NSE CM and Derivatives Segment SEBI Regn. 1NB230638639 & 1NF230638639
BSE CM and Derivatives Segment SEBI Regn. 1NB010638634 &
PMS SEBI Regn. 1NP000001371 CDSL DP SEBI Regn. IN-DP-CDSL
251-2004
Commodities Trading: MCX -10585 and NCDEX - 00011 (through Networth
Stock.Com Ltd.)
Hyderabad (Somajiguda)
401, Dega Towers, 4th Floor, Raj Bhavan Road, Somajiguda Hyderabad - 500 082
Andhra Pradesh.
Phone Nos.: 040-55560708, 55562256, and 30994985

Mumbai (MF Division)
49, Au Chambers, 4th Floor, Tamarind Lane, Fort
Mumbai - 400 001
Maharashtra.
Phone Nos.: 022- 22650253
Mumbai (Registered Office)
5, Church gate House, 2nd Floor, 32/ 34 Veer Narirnan Road, Fort
18
Mumbai - 400 001
Maharashtra.
Phone No. 022-22850428
The Networth connectivity with 107 branches and growing
1 0 7 b r a n c h e s
Products and services portfolio
19
• Retail and institutional broking
• Research for institutional and retail clients
• Distribution of financial products
• PMS
• Corporate finance
• Net trading
• Depository services
• Commodities Broking
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20
Infrastructure
• A corporate office and 3 divisional offices in CBD of Mumbai which houses
state-of-the-art dealing room, research wing & management and back offices.
• All of 107 branches and franchisees are fully wired and connected to hub at
Corporate office at Mumbai. Add on branches also will be wired and connected to
central hub
• Web enabled connectivity and software in place for net trading.
• 60 operative ID’s for dealing room
• In house technology back up team to ensure un-interrupted connectivity.
1993: Networth Started with 300 Sq.ft. of office space & 10 employees
2006: Spread over 42 cities (around 70,000 Sq.ft of office space) with over 107 branches
& employee strength over 400
Market & research
Focusing on your needs
Every investor has different needs, different preferences, and different viewpoints.
Whether investor prefer to make own investment decisions or desire more in-depth
assistance, company committed to providing the advice and research to help you succeed.
Networth providing following services to their customers,
Daily Morning Notes
Market Musing
Company Reports
Theme Based Reports
Weekly Notes
21
IPOs
Sector Reports
Stock Stance
Pre-guarter/Updates
Bullion Tracker
F&O Tracker
QUALITY POLICY
To achieve and retain leadership, Networth shall aim for complete customer satisfaction,
by combining its human and technological resources, to provide superior quality financial
services. In the process, Networth will strive to exceed Customer’s expectations.
As per the quality policy, Networth will:
 Build in house processes that will ensure transparent and harmonious
relationships with its clients and investors to provide high quality of services.
 Establish a partner relationship with in its investor service agents and vendors that
will help in keeping up its commitments to the customers.
 Provide high quality of work life for all its employees and equip them with
adequate knowledge & skill so as to respond to customer’s needs.
22
 Continue to uphold the values of honesty & integrity and strive to establish
unparalleled standards in business ethics.
 Use state-of-the art information technology in developing new and innovative
financial products and services to meet the changing needs of investors and
clients.
Strive to be a reliable source of value-added financial products and services and
constantly guide the individuals and institutions in making a judicious choice of it.
Strive to keep all stake-holders (share holders, clients, investors, employees, suppliers
and regulatory authorities) proud and satisfied.
Key Personnel:
• Mr. S P Jain – CMD Networth Stock Broking Ltd.
A qualified Chartered Accountant with over 15 years of experience in the
capital markets.
• Mr. Deepak Mehta – Head PMS
Over 12 years of experience in the capital markets and has the prior work
experience of serving on the Equity desk of Reliance.
• Mr.Viral Doshi – Equity Strategist
A qualified Chartered Accountant with experience of over a decade in technical
analysis with respect to equity markets.
• Mr. Vinesh Jain – Asst. Fund Manager
23
A qualified MBA graduate specializing in finance and over two years of
experience in the capital markets.
• Research and the Back office.
MARKET PROFILE
NATIONAL STOCK EXCHANGE
The National Stock Exchange of India (NSE) situated in Mumbai - is the largest
and most advanced exchange with 1016 companies listed and 726 trading members.
Capital market reforms in India and the launch of the Securities and Exchange Board of
India (SEBI) accelerated the incorporation of the second Indian stock exchange called the
National Stock Exchange (NSE) in 1992. After a few years of operations, the NSE has
become the largest stock exchange in India.
24
Three segments of the NSE trading platform were established one after another. The
Wholesale Debt Market (WDM) commenced operations in June 1994 and the Capital
Market (CM) segment was opened at the end of 1994. Finally, the Futures and Options
segment began operating in 2000. Today the NSE takes the 14th position in the top 40
futures exchanges in the world.
In 1996, the National Stock Exchange of India launched S&P CNX Nifty and CNX
Junior Indices that make up 100 most liquid stocks in India. CNX Nifty is a diversified
index of 50 stocks from 25 different economy sectors. The Indices are owned and
managed by India Index Services and Products Ltd (IISL) that has a consulting and
licensing agreement with Standard & Poor's.
In 1998, the National Stock Exchange of India launched its web-site and was the first
exchange in India that started trading stock on the Internet in 2000. The NSE has also
proved its leadership in the Indian financial market by gaining many awards such as 'Best
IT Usage Award' by Computer Society in India (in 1996 and 1997) and CHIP Web
Award by CHIP magazine (1999).
The NSE is owned by the group of leading financial institutions such as Indian Bank or
Life Insurance Corporation of India. However, in the totally de-mutualised Exchange, the
ownership as well as the management does not have a right to trade on the Exchange.
Only qualified traders can be involved in the securities trading.
25
The NSE is one of the few exchanges in the world trading all types of securities on a
single platform, which is divided into three segments: Wholesale Debt Market (WDM),
Capital Market (CM), and Futures & Options (F&O) Market.
Each segment has experienced a significant growth throughout a few years of their
launch. While the WDM segment has accumulated the annual growth of over 36% since
its opening in 1994, the CM segment has increased by even 61% during the same period.
The National Stock Exchange of India has stringent requirements and criteria for the
companies listed on the Exchange. Minimum capital requirements, project appraisal, and
company's track record are just a few of the criteria. In addition, listed companies pay
variable listing fees based on their corporate capital size.
The National Stock Exchange of India Ltd. provides its clients with a single, fully
electronic trading platform that is operated through a VSAT network. Unlike most world
exchanges, the NSE uses the satellite communication system that connects traders from
345 Indian cities. The advanced technologies enable up to 6 million trades to be operated
daily on the NSE trading platform.
NSE Nifty:
The S&P CNX Nifty (nicknamed Nifty 50 or simply Nifty), is the leading index for large
companies on the National Stock Exchange of India. S&P CNX Nifty is a well
diversified 50 stock index accounting for 22 sectors of the economy. It is used for a
variety of purposes such as benchmarking fund portfolios, index based derivatives and
index funds.
26
Nifty was developed by the economists Ajay Shah and Susan Thomas, then at IGIDR.
Later on, it came to be owned and managed by India Index Services and Products Ltd.
(IISL), which is a joint venture between NSE and CRISIL. IISL is India's first specialised
company focused upon the index as a core product. IISL have a consulting and licensing
agreement with Standard & Poor's (S&P), who are world leaders in index services.
CNX stands for CRISIL NSE Indices. CNX ensures common branding of indices, to
reflect the identities of both the promoters, i.e. NSE and CRISIL. Thus, 'C' stands for
CRISIL, 'N' stands for NSE and X stands for Exchange or Index. The S&P prefix belongs
to the US-based Standard & Poor's Financial Information Services.
NSE other indices:
 S&P CNX Nifty
 CNX Nifty Junior
 CNX 100
 S&P CNX 500
 CNX Midcap
 S&P CNX Defty
 CNX Midcap 200
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BOMBAY STOCK EXCHANGE:
The Bombay Stock Exchange Limited (formerly, The Stock Exchange, Mumbai;
popularly called The Bombay Stock Exchange, or BSE) is the oldest stock exchange in
Asia. It is located at Dalal Street, Mumbai, India.
Bombay Stock Exchange was established in 1875. There are around 5,600 Indian
companies listed with the stock exchange, and has a significant trading volume. As of
October2006, the market capitalization of the BSE was about Rs. 33.4 trillion (US $ 730
28
billion). The BSE SENSEX (SENSitive indEX), also called the BSE 30, is a widely used
market index in India and Asia. As of 2005, it is among the 5 biggest stock exchanges in
the world in terms of transactions volume.
History:
An informal group of 22 stockbrokers began trading under a banyan tree opposite the
Town Hall of Bombay from the mid-1850s, 1875, was formally organized as the Bombay
Stock Exchange (BSE).In January 1899, the stock exchange moved into the Brokers’ Hall
after it was inaugurated by James M MacLean. After the First World War, the BSE was
shifted to an old building near the Town Hall. In 1956, the Government of India
recognized the Bombay Stock Exchange as the first stock exchange in the country under
the Securities Contracts (Regulation) Act.1995, when it was replaced by an electronic
(eTrading) system named BOLT, or the BSE Online Trading system. In 2005, the status
of the exchange changed from an Association of Persons (AoP) to a full fledged
corporation under the BSE (Corporatization and Demutualization) Scheme, 2005 (and its
name was changed to The Bombay Stock Exchange Limited).
BSE Sensex:
The BSE SENSEX (also known as the BSE 30) is a value-weighted index composed of
30 scrips, with the base April 1979 = 100. The set of companies which make up the index
has been changed only a few times in the last 20 years. These companies account for
around one-fifth of the market capitalization of the BSE.
29
SENSEX, first compiled in 1986 was calculated on a "Market Capitalization-Weighted"
methodology of 30 component stocks representing a sample of large, well-established
and financially sound companies. The base year of SENSEX is 1978-79. The index is
widely reported in both domestic and international markets through print as well as
electronic media. SENSEX is not only scientifically designed but also based on globally
accepted construction and review methodology. From September 2003, the SENSEX is
calculated on a free-float market capitalization methodology. The "free-float Market
Capitalization-Weighted" methodology is a widely followed index construction
methodology on which majority of global equity benchmarks are based.
The growth of equity markets in India has been phenomenal in the decade gone by. Right
from early nineties the stock market witnessed heightened activity in terms of various
bull and bear runs. More recently, the bourses in India witnessed a similar frenzy in the
'TMT' sectors. The SENSEX captured all these happenings in the most judicial manner.
One can identify the booms and bust of the Indian equity market through SENSEX.
The values of all BSE indices are updated every 15 seconds during the market hours and
displayed through the BOLT system, BSE website and news wire agencies.
SENSEX calculation:
SENSEX is calculated using a "Market Capitalization-Weighted" methodology.
As per this methodology, the level of index at any point of time reflects the total market
value of 30 component stocks relative to a base period. (The market capitalization of a
company is determined by multiplying the price of its stock by the number of shares
30
issued by the company). An index of a set of combined variables (such as price and
number of shares) is commonly referred as a 'Composite Index' by statisticians. A single
indexed number is used to represent the results of this calculation in order to make the
value easier to work with and track over time. It is much easier to graph a chart based on
indexed values than one based on actual values.
The base period of SENSEX is 1978-79. The actual total market value of the
stocks in the Index during the base period has been set equal to an indexed value of 100.
This is often indicated by the notation 1978-79=100. The formula used to calculate the
Index is fairly straightforward. However, the calculation of the adjustments to the Index
(commonly called Index maintenance) is more complex.
The calculation of SENSEX involves dividing the total market capitalization of 30
companies in the Index by a number called the Index Divisor. The Divisor is the only link
to the original base period value of the SENSEX. It keeps the Index comparable over
time and is the adjustment point for all Index maintenance adjustments. During market
hours, prices of the index scrips, at which latest trades are executed, are used by the
trading system to calculate SENSEX every 15 seconds and disseminated in real
time.During market hours, prices of the index scrips, at which trades are executed, are
automatically used by the trading computer to calculate the SENSEX every 15 seconds
and continuously updated on all trading workstations connected to the BSE trading
computer in real time.
BSE - other Indices:
31
Apart from BSE SENSEX, which is the most popular stock index in India, BSE uses
other stock indices as well:
 BSE 500
 BSE PSU
 BSE MIDCAP
 BSE SMLCAP
 BSE BANKEX
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CHAPTER-3
REVIEW OF
LITERATURE
QUALITY OF WORK LIFE
The term QUALITY OF WORK LIFE refers to the favorableness or

unfavourableness of a job environment for people. J. Richard and J. Loy define quality of
work life as “The degree to which members of a work organization are able to satisfy
important personnel needs through their experience in the organization”. QUALITY OF
WORK LIFE is important for individuals but also for growth, employment and
sustainable and competitive economy.
33
The defining of Quality of Work Life involves three major parts: occupational
health care, suitable working time and appropriate salary. The safe work environment
provides the basis for the person to enjoy working. The work should not pose a health
hazard for the person. The employer and employee, aware of their risks and rights, could
achieve a lot in their mutually beneficial dialogue.
QUALITY OF WORK LIFE improvements are defined as any activity which
takes place at every level of an organization, which seeks greater organizational
effectiveness the stockholders in the organization management, unions and employees
learn how to work together better to determine for themselves what actions, changes and
goals of an improved quality of life at work for all members of the organization and
greater effectiveness for both the company and the unions.
The term “QWL” appeared in research journals only in 1970s. It is not only
monetary aspects that a modern employee concerns himself with. This is also concerned
with the conditions of employment, interpersonal conflicts, job pressure lack of freedom
and absence of challenging work etc. As the style of management has changed from
paternalistic to democratic. So as the expectations of employees with an impending need
to achieve more and more productivity efficiently, employees look forward to the
conducive and congenial working conditions and favorable terms of employment. As
such productivity and efficiency of an organization largely depends upon the Quality of
Work Life provided by the organization.
In the development process, the term QWL has acquired many different
definitions crating confusion. Nadler and Lawler brought out this confusion thus
First definition 1969 – 1972 QWL = Variable

Second definition 1972 – 1975 QWL = Methods
Third definition 1975 – 1980 QWL = Movement
Forth definition 1969 – 1982 QWL = Everything
Whatever may be the interpretation, QWL is most debated topic both by
employers and employees. One of the reasons for its growing importance could be
realization on the part of employees about their mercy of management for their existence.
Most of the lower level workers also have at least primary some union or the other for his
34
own protection and well being. Unions putting all their efforts to educate contribute.
Though still monetary benefits occupy the first place in the list of elements of Quality of
Work Life, other elements like physical working conditions job restructuring and
redesign, career development, promotional opportunities etc., are gaining importance
rapidly. As such the workers expect management to improving Quality of work life by
providing all these facilities
The management on the other hand, ceased to adopt paternalistic approach as it
used earlier they do not take care of the employee as a parent takes care of his child.
There is no more understanding between employer and employee, except constant
struggle for their own end. Employer always sees the employees as a factor of production
just like other factors. He always tries to extract as much production as possible from this
factor where as the employees always expect more facilities and comforts from employer
in return to what they contribute. This situation has resulted in constant struggle between
employees and employers. Apart from the above problems there are other serious
problems cropping up, like job dissatisfaction due to meaningless repetitive or irrelevant
jobs or authoritarian behavior of the boss. As a result counter productive behavior like
absenteeism, idling while on work and lack of concentration takes place.
Because of poor design of socio-technical systems, employees also experience
alienation. Alienation is a feeling of powerlessness, loneliness, boredom, lack of ego
involvement. This job content and job pressures may in turn affect employees health
giving way to general unhappiness. Hence it is viewed that Quality of Work Life was
mainly in three phases…. Scientific management movement, HR movement and finally
Socio-technical movement.
MEASURING QWL:
Various criteria are evolved in past two decades to measure quality of work life.
Various researchers who carried on studies in this area came up with various criteria,
which are not entirely different from each other. As cited earlier, though many criteria
evolved Walton’s eight factors are considered as most comprehensive criteria for
measurement of QWL.
Walton’s eight factor criteria or concepts of QWL:
1. ADEQUATE AND FAIR COMPENSATION:
35
There are different opinions about adequate compensation. The committee on fair
wages defined fair wage as “… the wage which is above the minimum wage but below
the living wage.”
2. SAFE AND HEALTHY WORKING CONDITIONS:

Most of the organizations provide safe and healthy working conditions due to
humanitarian requirements and/or legal requirements. In fact, these conditions are a
matter of enlightened self interest.
3. OPPORTUNITY TO USE AND DEVELOP HUMAN

CAPACITIES:
Contrary to the traditional assumptions, QWL is improved... “To the extent that the
worker can exercise more control over his or her work, and the degree to which the job
embraces an entire meaningful task” … but not a part of it. Further, QWL provides for
opportunities like autonomy in work and participation in planning in order to use human
capabilities.
4. OPPORTUNITY FOR CAREER GROWTH:
Opportunities for promotions are limited in case of all categories of employees either
due to educational barriers or due to limited openings at the higher level. QWL provides
future opportunity for continued growth and security by expanding one’s capabilities,
knowledge and qualifications.
5. SOCIAL INTEGRATION IN THE WORK FORCE:

Social integration in the work force can be established by creating freedom from
prejudice, supporting primary work groups, a sense of community and inter-personnel
openness, legalitarianism and upward mobility.
6. CONSTITUTIONALISM IN THE WORK ORGANIZATION:

QWL provides constitutional protection to the employees only to the level of
desirability as it hampers workers. It happens because the management’s action is
36
challenged in every action and bureaucratic procedures need to be followed at that level.
Constitutional protection is provided to employees on such matters as privacy, free
speech, equity and due process.
7. WORK AND QUALITY OF LIFE:

QWL provides for the balanced relationship among work, non-work and family
aspects of life. In other words family life and social life should not be strained by
working hours including overtime work, work during inconvenient hourazs, business
travel, transfers, vacations etc.
8. SOCIAL RELEVANCE OF WORK:

QWL is concerned about the establishment of social relevance to work in a socially
beneficial manner. The workers’ self esteem would be high if his work is useful to the
society and the vice versa is also true.
PRINCIPLES OF QWL:
1. THE PRINCIPLE OF SECURITY:

Humanization of work implies freedom from anxiety, fear and the loss of future
employment. The working conditions should be safe and there should be no fear of
economic want. These preconditions will guarantee let most the development of skills
and ideas.
37
2. THE PRINCIPLE OF EQUITY:
Hostility is generated if there are substantial differences between efforts and rewards.
All types of discrimination between people doing similar work and with same level of
performance must be eliminated. Equity also requires sharing the profits of the
organization.
3. THE PRINCIPLE OF INDIVIDUALISM:

Employees differ in terms of their attitudes, skills, potentials etc. therefore, every
individual should be provided the opportunities for development of his personality and
potential. Humanization of work requires that employees are able to decide their own
pace of activities and design of work operation.
4. THE PRINCIPLE OF DEMOCRACY:
It implies greater authority and responsibility vested into the work force. Increasing
controls, close supervision and a genre; institutionalization inhibits humanization of
work. Meaningful participation decision –making also guarantees the “Right of
citizenship” and tends to improve the quality of work life.
STRATEGIES FOR IMPROVEMENT OF QWL:
1. SELF-MANAGED WORK TEAMS:

These are also called autonomous work groups or integrated word teams. These work
teams are formed with 10 to 20 employees who plan, co-ordinate and control the
activities of the team with the help of a team leader. Who is one among them? Each team
performs all activities including selecting their people. Each team has authority to make
38
decisions and regulate the activities. The group as a whole is accountable for the success
or failure. Salaries are fixed both on the basis of individual and group achievement.
2. JOB REDESIGN AND ENRICHMENT:

Jobs are redesigned with a view to enriching them to satisfy higher order human
needs. Job redesigning or job enrichment improves the quality of the job. It attempts to
provide a person with exciting, interesting, stimulating and challenging work. It helps to
satisfy the higher level needs of the employees.
3. EFFECTIVE LEADERSHIP AND SUPERVISORY

BEHAVIOR:
For effective leadership and supervisory behavior ‘9-9’ style of managerial grid is
suitable.
4. CAREER DEVELOPMENT:
Career development is very important for ambitious and achievement oriented
employees. If the employees are provided with opportunities for their advancement and
growth, they will be highly motivated and their commitment to the organization will
increase.
5. ALTERNATIVE WORK SCHEDULES:

Provision for flexible working hours, part-time employments, job-sharing and
reduced work week should be made.
6. JOB SECURITY:
Employees want stability of employment. Adequate job security provided to the
employees will improve the work life to a large extent.
39
7. ADMINISTRATION OR ORGANIZATIONAL JUSTICE:
The principles of justice, fair and equity should be taken care of in disciplinary
procedure, grievance procedures, promotions, transfers, demotion, work assignment,
leave etc.,.
8. PARTICIPATIVE MANAGEMENT:
Employees should be allowed to participate in management participative schemes
which may be of several types. The most sophisticated among them is quality circle.
Implementation of these strategies ensures higher level of quality of work life.
SPECIFIC ISSUES IN QWL:

Trade unions claim that they are responsible for improvement in various facilities
to workers whereas management takes credit for improved salaries, benefits and
facilities. However, P/HR manager has (identified) specific issues in QWL besides
normal wages, salaries; fringe benefits etc. and take lead in providing them so as to
maintain higher order QWL.
1. PAY AND STABILITY OF EMPLOYMENT:
40
Good pay still dominates most of the other factors in employee satisfaction.
Various alternative means for providing wages should be developed in view of increase
in cost of living index, increase levels and rates of income tax and profession tax.
Stability to a greater extent can be provided by enhancing the facilities for human
resources development.
2. OCCUPATIONAL STRESS:
Stress is a condition of strain on one’s emotions, thought process and physical
condition. Stress is determined by the nature of work, working conditions, working hours,
pause in the work schedule, worker’s abilities and nature and match with the job
requirements. Stress is caused due to irritability, hyper-excitation or depression, unstable
behavior, fatigue, stuttering, trembling psychometric pains, heavy smoking and drug
abuse. Stress adversely affects employee’s productivity. The P/HR manager, in order to
minimize the stress, has to identify, prevent and tackle the problem. He may arrange the
treatment of the problem with the health unit of the company.
3. ORGANIZATIONAL HEALTH PROGRAMMES:
Organizational health programmes aim at educating employees about health
problems, means of maintaining and improving of health etc. these programmes cover
drinking and smoking cessation, hyper-tension control, other forms of cardiovascular risk
reduction, family planning etc effective implementation of these programmes result in
reduction in absenteeism, hospitalization, disability, excessive job turnover and
premature death. This programme should also cover relaxation, physical exercise, diet
control etc.
4. ALTERNATIVE WORK SCHEDULES:
Alternative work schedules including work at home, flexible working hours,
staggered hours, reduced work week, part-time employment which may be introduced for
the convenience and comfort of the workers as the work schedule which offers the
individual the leisure time, flexible hours of work is preferred.
5. PARTICIPATIVE MANAGEMENT AND CONTROL OF

WORK:
41
Trade unions and workers believe that workers’ participation in management and
decision-making improves QWL. Workers also feel that they have control over their
work, use their skills and make a real contribution to the job if they are allowed to
participate in the creative and decision-making process.
6. RECOGNITION:
Recognizing the employee as a human being rather than as a laborer increases the
QWL. Participative management, awarding the rewarding systems, congratulating the
employees for their achievement, job enrichment, offering prestigious designations to the
jobs, providing well furnished and decent work places, offering membership in clubs or
association, providing vehicles, offering vacation trips are some means to recognize the
employees.
7. CONGENIAL WORKER-SUPERVISOR RELATION:

A harmonious supervisor-worker relation gives the worker a sense of social
association, belongingness, achievement of work results etc. This in turn leads to better
QWL.
8. GRIEVANCE PROCEDURE:
Workers have a sense of fair treatment when the company gives them the opportunity
to ventilate their grievances and represent their case succinctly rather than settling the
problems arbitrarily.
9. ADEQUACY OF RESOURCES:
Resources should match with stated objectives; otherwise, employees will not be
able to attain the objectives. This results in employee dissatisfaction and lower QWL.
42
10.SENIORITY AND MERIT IN PROMOTIONS:
Seniority is generally taken as the basis for promotion in case of operating employees.
Merit is considered as the basis for advancement for managerial people whereas seniority
cum-merit is preferred for promotion of ministerial employees. The promotional policies
and activities should be fair and just in order to ensure higher QWL.
11.EMPLOYMENT ON PERMANENT BASIS:

Employment of workers on casual, temporary, probationary basis gives them a sense
of insecurity. On the other hand, employment on permanent basis gives them security and
leads to higher order QWL.
QUALITY OF WORK LIFE AND HUMAN RESOURCES

DEVELOPMENT:
Quality of work life is broader than motivation though these two terms seem to be
similar. All personnel related activities affect quality of work life, some examples are
HR ACTIVITY EFFECT ON QULITY OF WORK LIFE
43
Job Analysis Analyze the job in such a way human needs like
freedom, challenging work, autonomy can be
satisfied.
Selection Selecting the right man and placing him in the

Right position. This satisfies his needs for
reward, interesting work etc.
Job enrichment Satisfied higher order needs like pride, ego.
Job evaluation Equitable wages.
BARRIERS TO QUALITY OF WORK LIFE:
Quality of work life suffers from barriers like any other new scheme.
Management, employees and unions fear the effect of unknown change. All these parties
feel that the benefits of this concept are few though they are convinced about its effect on
personnel management as a whole and on the individual parties separately, management
should develop strategies to improve quality of work life in view of the barriers.
44
CHAPTER-4
QWL AT
NETWORTH
STOCK BROKING
LTDS
ORGANIATION POLICIES:
EMPLOYEE BENEFITS:
45
• PROVIDENT FUND: All the employees will contribute 12% of their basic salary
which is 60% of their Gross 25% H.R.A 15% conveyance.
• All the employees who are on the pay roll are eligible for this and trainees after
completion of their training get the eligibility on regularization.
• From the employee contribution of P.F.8.33% will go to the pension fund and
remaining 3.67% will be added to P.F.
EMPLOYEE WELFARE:
• All the members are covered under Medi claim policy for self and family
members.
• Each member is covered for 50, 000 insurance.
• Insurance coverage will be done after 3 months of service.
SALARY/WAGES:
• Attendance is taken from the swipe machine in time office and uploaded into the
pay roll management system.
• Pay roll is managed in the pay roll package (jeeva)
• Monthly statement like loss of pay, canteen deduction,., New joining,
Resignation, Monthly increments, , Night shifts, Managers etc., are prepared
along with salaries.
• Salaries are deposited into savings bank account directly.
LEAVE MANAGEMENT:
Being an essential service regular attendance for work is a vital factor in ensuring smooth
and uninterrupted operation. This requires that employees plan their leave in order to
guide to staff on subject of leave. There are:
46
Casual leave : 12 per year
Sick leave : 12 per year
Earned leave : 15 per year
Maternity leave : 90 days
Compensatory off : Day
Leave on loss of pay/Special leave
GRIEVANCE OF EMPLOYEES:
All complaints arising out of employment shall be submitted to the Manager or any other
person authorized on his behalf.
The following procedure should be adopted by the employees in the order stated.
a. Representation of the HOD.
b. Representation of the Head of HOD.
TRANSFERS:
All the employees are subjected to transfer as follows:

1. Intra Dept 2. Inter Dept
a. Permanent
b. Probationer
c. Temporary
d. Trainee
e. Internees
f. Honorary trainee
g. Contract Labour
ADMINISTRATION:
In any organization, HR Department plays a very important role. All the major activities
will be dealt in HR Department such as preparation of full and final settlement,
47
maintaining record of each employee of organization, pay roll following up of appraisal
of potential, rewarding the “BEST ASSOCIATE AWARD”
from various Departments of Organization based on their performance, skills, qualities,
responsibilities.
WORKING HOURS AND CONDITIONS:
There are shifts for the employees working in the Organization. For Administrative
department the working hours are 8 AM to 5 PM.
SHIFTS:
MORNING: AFTERNON:
M1 - 7AM-4PM MS - 12PM-9AM
R1 - 8AM-3PM A - 1PM-8AM
M2 - 9AM-6PM A1 - 2PM-10AM
M4 - 11AM-8PM
NIGHT:
N - 6AM-4PM R - 8PM-5AM
N1 - 9AM-9PM R2 - 8PM-9AM
N3 - 10AM-2PM
PERSONAL DEPARTMENT DETAILS:
Networth stock broking ltd is strongly driven by the philosophy that HR is the
strongest, valuable of all resources of any Organization. Human nature is very complex
and to harness and get the best for the benefit of the Organization, as well as individual
utmost care is exercised right from the stage of selection through out the entire process of
HRD.
MANPOWER REQUIREMENTS:
48
• To take specification for job requirement in the prescribed format for all jobs
opening in the Organization.
• All the vacancies are displayed in the notice board for employees to apply. The
same is to facilitate equal opportunities for employees of Organization.
• All openings are intimated to employment exchange.
• All vacancies arise, either due to resignations or new openings, first option is
given to existing employees in the Organization and they will undergo for
selection based on their job opening.
• To competence requirement for all positions in the Organization the GM-HR
should consult with the HOD’S.
SELECTION AND RECRUITMENT:
• The vacancies are identified in each Department and selection is made with the
profile of the person needed for filling the vacancy. The first option is given to the
existing employees.
• For all openings, the HR Department personnel conduct preliminary interview
and the ratings are given.
• Whenever freshers are recruited for job opening, selection process includes,
written test, wherein candidate is required to score 60% marks for further
interviews and selections.
• Short listed persons are called for interviews by the company Administrator for
suitable place and date.
INDUCTION/ORIENTATION:
• Introduce the employee to the staff.
49
• Explain him the Organization History, Hierarchy, Grade structure.
• Appraise him the rules and regulations of the organization.
• Put him under training in Departments to understand the role of each Department
where he/she is going to work.
• Maintain induction training record.
PERFORMANCE APPRAISAL:
• The performance appraisal is carried out once every year for all associates and
after the completion of one year for new recruits.
• Trainees will be assessed of their performance after completion of 3/6 months.
• After their potential appraisal they are recommended for promotion.
TRAINING:
• At least 20 managers undergo Management development training in a year.
• To maintain record related to competence, education, awareness, and training for
all associates.
• On the job training is given to all staff depending upon recruitment.
FEED BACK:
After returning from the training the effectiveness of training is verified by the HOD and
forwarded to General Manager-HR for persual of Management
50
CHAPTER-5
DATA ANALYSIS
&
INTERPRETATION
1. How long have you been working for NETWORTH STOCK BROKING
LIMITED?
Table: 1 WORKING FOR NSBL
51
S.NO CRITERIA NO. OF % OF
RESPONDENTS RESPONDENTS
1. Less than One year 28 56
2. One-Two years 13 26
3. Two-Five years 2 4
4. Five years or more 7 14
Total 50 100
Chart: 1
WORKING FOR QCIL
100
% OF RESPONDENTS
80
56
60
40 26
20 14
4
0
Less than one One-Two years Two-Five years Five years or
year more
CRITERIA
ANALYSIS: The analysis of the aforesaid responses indicates that 56% of the
employees working from less than one year.26% of the employees working from one-two
years.4% of the employees working from two-five years.14% of the employees working
from five years or more.
INTERPRETATION: Majority of the employees working from less than one year.
That is most of the employees are freshers to the NETWORTH STOCK BROKING so it
will help to understand working conditions in NETWORTH STOCK BROKING, as they
have experience with previous organization.
2. How motivating is the work environment?

Table: 2 WORK ENVIRONMENT
52
NO.OF % OF
S.NO CRITERIA RESPONDENTS RESPONDENTS
1. Extremely motivating 13 26
2. Fairly motivating 27 54
3. Neither motivating 10 20
nor demotivating
Total 50 100
Chart: 2
WORK ENVIRONMENT
100
% OF RESPONDENTS
80
60 54
40
26
20
20
0
Extremely motivating Fairely motivating Neither motivating
nor demotivating
CRITERIA
employees feel that work environment is extremely motivating.54% of the employees
feel that work environment is fairly motivating.20% of the employees feel that work
environment is neither motivating nor demotivating.
INTERPRETATION: Majority of the employees feel that work environment is fairly
motivating. However 20% of employees were unable to decide on it.
3. I am satisfied with the working conditions provided by the NSBL.
Table: 3 WORKING CONDITIONS
53
Chart: 3
S.NO CRITERIA NO.OF % OF
1. Strongly agree 10 20
2. Agree 37 74
3. Disagree 3 6
4. Strongly disagree -- --
Total 50 100
WORKING CONDITIONS
100
% OF RESPONDENTS
80 74
60
40
20
20
6
0
0
Strongly agree Agree Disagree Strongly agree
CRITERIA
employees strongly agree that they are satisfied with the working conditions provided by
the NSBL. 74% of the employees agree that they are satisfied with the working
conditions provided by the NSBL. 6% of the employees disagree that they are satisfied
with the working conditions.
INTERPRETATION: Majority of the employees agree that they are satisfied with the
working conditions provided by the NSBL.
54
4. Do other departments in the organization cooperate with each other?
Table: 4 CO-OPERATION

1. Yes 38 76
2. No 12 24
Total 50 100
Chart: 4
CO-OPERATION
100
% OF RESPONDENTS
76
80
60
40
24
20
0
Yes No
CRITERIA
employees feel that other departments in the organisation cooperate with each
other. 24% of the employees feel that other departments in theorganisation do
not cooperate with each other.
INTERPRETATION: Majority of the employees feel that other departments in
theorganisation cooperate with each other.
55
5. Do you feel free to offer comments and suggestions?
Table: 5 COMMENTS AND SUGGESTIONS

1. Yes 36 72
2. No 14 28
Total 50 100
Chart: 5
COMMENTS & SUGGESTIONS
100
% OF RESPONDENTS
80 72
60
40 28
20
0
Yes No
CRITERIA
employees feel free to offer comments and suggestions. 28% of the employees feel that
they are not free to offer comments and suggestions.
INTERPRETATION: Majority of the employees feel free to offer comments and

suggestions.
56
6. There is a harmonious relationship with our colleagues in NSBL.
Table: 6 HARMONIOUS RELATIONSHIPS

2. Agree 31 62
3. Disagree 8 16
Total 50 100
Chart: 6
HARMONIOUS RELATIONSHIPS
100
% OF RESPONDENTS
80
62
60
40
22
16
20
0
0
Strongly agree Agree Disagree Strongly
disagree
CRITERIA
employees strongly agree that there is a harmonious relationship with their colleagues in
NSBL. 62% of the employees agree and 16% of the employees disagree that there is a
harmonious relationship with their colleagues in NSBL.
INTERPRETAION: Majority of the employees agree that there is harmonious
relationship with their colleagues in NSBL.
7. Sense of belongingness increases with the co-operation.
Table: 7 CO-OPERATIONS
57
2. Agree 34 62
3. Disagree -- --
Total 50 100
Chart: 7
CO-OPERATIONS
100
% OF RESPONDENTS
80
62
60
40 32
20
0 0
0
disagree
CRITERIA
employees strongly agree that sense of belongingness increases with the co-operation.
62% of the employees agree that sense of belongingness increases with the co-operation.
INTERPRETATION: Majority of the employees agree that sense of belongingness
increases with the co-operation
8. How far training programmes help an employee to achieve required skill in
efficiently performing jobs?
Table: 8 TRAINING PROGRAMMES
NO.OF % OF
58
S.NO CRITERIA RESPONDENTS RESPONDENTS
1. To great extent 20 40
2. To some extent 23 46
3. Rarely 7 14
Total 50 100
Chart: 8
TRAINING PROGRAMMES
100
% OF RESPONDETNS
80
60
46
40
40
20 14
0
To great extent To some extent Rarely
CRITERIA
employees feel that training programmes helps them great extent. 46% of the employees
feel that training programmes helps them some extent and 14% of the employees feel that
training programmes helps them rarely to achieve the required skill in efficiently
performing jobs.
INTERPRETATION: Majority of the employees feel that training programmes helps
them to some extent. However awareness and importance of training programmes should
be improved by regular programmes.
9. Do you think training programmes helps in improving relationship among
employees?
Table: 9 IMPROVING RELATIONSHIP AMONG EMPLOYEES
59
1. Yes 48 96
2. No 2 4
Total 50 100
Chart: 9
IMPROVING RELATIONSHIP AMONG

EMPLOYESS
96
100
% OF RESPONDENTS
80
60
40
20
4
0
Yes No
CRITERIA
ANALYSIS: The analysis of the aforesaid responses indicates that 96% of employees
feel that training programmes helps in improving relationship among employees. 4% of
the employees do not feel that training programmes helps in improving relationship
among employees.
INTERPRETATION: Majority of the employees feel that training programmes helps
in improving relationship among employees.
10. How would you rate programmes overall?
Table: 10 PROGRAMME RATINGS
60
1. Very useful 5 13 26
2. 4 10 20
3. 3 20 40
4. 2 5 10
5. Little use 1 2 4
Total 50 100
Chart: 10
PROGRAMME RATINGS
100
% OF RESPONDENTS
80
60
40
40
26
20
20 10
4
0
Very useful5 4 3 2 1Little use
CRITERIA
employees feel that programmes are very useful and they rated them as 5. 20% of the
61
employees rated them as 4. 40% of the employees rated them as 3. 10% of the employees
rated them as 2. 4% of the employees feel that programmes are little use and they rated
them as 1.
INTERPRETATION: Majority of the employees feel that training programmes could
be improved further to have better impact.
11. Please comment on the following infrastructure.
a. Classroom/Seating arrangement
b. Audio visual arrangement
c. Quality of lunch
d. Traveling facility
Table: 11(a) CLASSROOM/SEATING ARRANGEMNET
1. Excellent 5 10 20
2. 4 20 40
3. 3 15 30
4. 2 5 10
5. Poor 1 -- --
Total 50 100
Chart: 11(a)
CLASSROOM/SEATING ARRANGEMENTS
100
% OF RESPONDENTS
80
60
40
40 30
20
20 10
0
0
Excellent5 4 3 2 1poor
CRITERIA
62
feel that classroom arrangement is excellent and they rated it as 5. 40% of the employees
rated it as 4. 30% of the employees rated it as 3.10% of the employees rated classroom
arrangement as 2.
INTERPRETATION: Majority of the employees feel that the classroom arrangement
is very good.
11 (b) Audio visual arrangements.
Table: 11(b) AUDIO VISUAL ARRANGEMENTS
1. Excellent 5 8 16
2. 4 17 34
3. 3 15 30
4. 2 8 16
5. Poor 1 2 4
Total 50 100
Chart: 11(b)
AUDIO AND VISUAL ARRANGEMENTS
100
% OF RESPONDENTS
80
60
40 34
30
16 16
20
4
0
Excellent5 4 3 2 1Poor
CRITERIA
employees feel that audio visual arrangements are excellent and they rated it as 5. 34% of
the employees rated it as 4. 30% of the employees rated it as 3. 16% of the employees
63
rated it as 2. 4% of the employees feel that audio visual arrangements are poor and they
rated it as 1.
INTERPRETATION: Majority of the employees feel that audio and visual
arrangements are very good.
11(c) Quality of lunch.
Table: 11 (c) QUALITY OF LUNCH
1. Excellent 5 1 2
2. 4 10 20
3. 3 20 40
4. 2 15 30
5. Poor 1 4 8
Total 50 100
Chart: 11 (c)
QULITY OF LUNCH
100
% OF RESPONDENTS
80
60
40
40 30
20
20 8
2
0
CRITERIA

employees feel that quality of lunch is excellent and they rated it as 5. 20% of the
64
employees rated it as 4. 40% of the employees rated it as 3. 30% of the employees rated it
as 2 and 8% of the employees feel that quality of lunch is poor and they rated it as 1.
INTERPRETATION: Majority of the employees feel that quality of lunch is ok and
they rated it as 3. However, employees expecting improved meal.
11 (d) Traveling facilities.
Table: 11(d) TRAVELING FACILITIES
1. Excellent 5 4 8
2. 4 6 12
3. 3 15 30
4. 2 15 30
5. Poor 1 10 20
Total 50 100
Chart: 11(d)
TRAVELING FACILITIES
100
% OF RESPONDENTS
80
60
40 30 30
20
20 12
8
0
CRITERIA

employees feel that traveling facilities are excellent and they rated it as 5. 12% of the
employees rated traveling facilities as 4. 30% of the employees rated them as 3. 30% of
65
the employees rated them as 2 and 20% of the employees feel that traveling facilities are
poor and they rated it as 1.
INTERPRETATION: Majority of the employees feel that traveling facilities are
average and they rated it as 3 and 2.
12. I am given adequate and fair compensation for the work I do.
Table: 12 ADEQUATE AND FAIR COMPENSATION

2. Agree 26 52
3. Disagree 10 20
4. Strongly disagree 2 4
Total 50 100
Chart: 12
66
ADEQUATE AND FAIR COMPENSATION
100
% OF RESPONDENTS
80
60 52
40
24 20
20
4
0
disagree
CRITERIA
employees strongly agree that they are given adequate and fair compensation for the
work they do. 52% of the employees agree with the statement and 20% of the employees
disagree with the statement and 4% of the employees strongly disagree that they are
given adequate and fair compensation.
INTERPRETAION: Majority of the employees agree that they are given adequate and
fair compensation for the work they do. However the scenario might change at unit level.
13. My organization will pay salary by considering responsibilities at work.
Table: 13 PAY BY CONSIDERING RESPONSIBILITIS AT WORK

2. Agree 30 60
3. Disagree 13 26
Total 50 100
67
Chart: 13
PAY BY CONSIDERING RESPONSIBILITIES AT

WORK
% OF RESPONDENTS
100
80
60
60
40 26
20 10
4
0
disagree
CRITERIA
strongly agree that they pay salary by considering responsibilities at work.60% of the
employees agree with the statement. 26% of the employees disagree with the statement.
4% of the employees strongly disagree that they pay salary by considering
responsibilities at work.
INTERPRETATION: Considerable % of employees feel that their salary is not paid
based on their responsibilities.
14. NSBL does a good job of linking rewards to performance.
Table: 14 LINKING REWARDS TO PERFORMANCE
68
2. Agree 25 50
3. Disagree 15 30
Total 50 100
Chart: 14
LINKING REWARDS TO JOB PERFORMANCE
100
% OF RESPONDENTS
80
60 50
40 30
16
20
4
0
disagree
CRITERIA
employees strongly agree with the statement that NSBL does a good job of linking
rewards to job performance. 50% of the employees agree with the statement. 30% of the
69
employees disagree with statement. 4% of the employees strongly disagree that the
NSBL does a good job of linking rewards to job performance.
INTERPRETATION: Majority of the employees agree with the statement that the
NSBL does a good job of linking rewards to job performance.
15. Fringe benefits provided to you…
Table: 15 FRINGE BENEFITS

1. Insurance 30 60
2. Retirement -- --
benefit
3. Health checkup 5 10
4. All the above 15 30
Total 50 100
Chart: 15
70
FRINGE BENEFITS
100
% OF RESPONDENTS
80
60
60
40 30
20 10
0
0
Insurance Retirement Health All the above
benefit checkup
CRITERIA
employees say that insurance is provided as a fringe benefit. 10% of the employees say
that health checkup is provided as a fringe benefit. 30% of the employees say that all the
three benefits are provided as fringe benefits.
INTERPRETATION: Majority of the employees say that insurance is provided as a
fringe benefit.
16. Does the NSBL provide you social security benefits?
Table: 16 SOCIAL SECURITY BENEFITS

1. Yes 27 54
2. No 23 46
Total 50 100
Chart: 16
71
SOCIAL SECURITY BENEFITS
100
% OF RESPONDENTS
80
60 54
46
40
20
0
Yes No
CRITERIA
employees say that the NSBL provide them social security benefits. 46% of the
employees say that the NSBL provide them social security benefits.
INTERPRETATION: Majority of the employees say that the NSBL provide them
social security benefits. However, there is a necessity to improve on social security
benefits.
17. Do you feel comfortable and satisfied with your job?
Table: 17 COMFORT AND SATISFATION

1. Satisfied 27 54
2. Neutral 23 46
3. Dissatisfied -- --
Total 50 100
Chart: 17
72
COMFORT AND SATISFACTION
100
% OF RESPONDENTS
80
60 54
46
40
20
0
0
Satisfied Neutral Dissatisfied
CRITERIA
employees feel comfortable and satisfied with their job. 46% of the employees feel
neutral about the comfort and satisfaction.
INTERPRETATION: Majority of the employees feel comfortable and satisfied with
their jobs.
18. Do you feel secure about your job?
Table: 18 SECURE ABOUT JOB

1. Yes 40 80
2. No 10 20
Total 50 100
Chart: 18
73
SECURE ABOUT JOB
100
% OF RESPONDENTS
80
80
60
40
20
20
0
Yes No
CRITERIA
employees feel secure about their job. 20% of the employees do not feel secure about
their job.
INTERPRETATION: Employees at NSBL feel more secure about their jobs.
19. I feel that my work allows me to do in a particular area where I can do best.
Table: 19 FREEDOM OF WORK

2. Agree 25 50
3. Disagree -- --
Total 50 100
74
Chart: 19
FREEDOM OF WORK
100
% OF RESPONDENTS
80
60 50
42
40
20 8
0
0
disagree
CRITERIA
employees strongly agree with the statement that their work allows them to do in a
particular area where they can do best. 50% of the employees agree with the statement.
8% of the employees strongly disagree with the statement that their work allows them to
do in a particular area where they can do best.
INTERPRETATION: Majority of the employees agree with statement that their work
allows them to do in a particular area where they can do best.
20. There is a balance between stated objectives and resources provided by the
NSBL.
Table: 20 ADEQUECY OF RESOURCES
75
2. Agree 25 50
3. Disagree 12 24
Total 50 100
Chart: 20
ADEQUECY OF RESOURCES
100
% OF RESPONDENTS
80
60 50
40
20 24
20
6
0
1 2 3 4
CRITERIA
employees strongly agree with statement that there is a balance between stated objectives
and resources provided by the NSBL. 50% of the employees agree with the statement.
24% of the employees disagree with the statement. 6% of the employees strongly
76
disagree with statement that there is a balance between stated objectives and resources
provided by the NSBL.
INTERPRETATION: Majority of the employees agree with the statement that there
is a balance between stated objectives and resources provided by the NSBL.
CHAPTER-6
FINDINGS
CONCLUSION
SUGGESTIONS
77
FINDINGS:
1. Employees are satisfied with the working conditions provided by the

organization.
2. Other department inorganisation co-operate with each other.
3. Some of the respondents opined that the salary is not commensurate with the
responsibilities.
4. Majority of the employees are free to offer comments and suggestions.
5. Majority of the employees are satisfied with the salary and fringe benefits
provided by the organization.
6. There is high degree of freedom of work in the organization.
7. The element of job satisfaction is rated as satisfactory.
8. The programmes of training are rated as very good.
9. The element of security is rated as satisfactory.
10. There is high degree sense of belongingness in the employees.
11. There is a harmonious relationship with the colleagues in the organization.
12. There is a balance of stated objectives and resources provided by the
organization.
78
CONCLUSION:
It was pleasure to interact with employees of Networth stock broking ltd, who has
shown keen interest in this project work and almost all of them were aware of the term
Quality of work life. They took out time from their busy schedule to fill up the
questionnaires and responded to the queries posed to them. Some employees were
anxious to know the end result.
Quality of Work Life plays an important role in the organization, it helps in
changing the entire organizational climate by humanizing work, individualizing
organization and changing the structural and managerial systems.
QWL denotes improvements in the psychological aspect of work to improve

productivity. It also refers to quality of relationship between employees and total working
environment. Much importance is given to the Quality of work life because of following
reasons: Fair compensation, safe and healthy working conditions, work and personal life
balance.
Absence of Quality of work life leads to several disadvantages for an
organization. The psychological & physical needs of the workers are not taken care, and
this leads to lower productivity. The performance of the employees decrease as the work
environment will be conducive.
Quality of work life at networth stock broking ltd is satisfactory to the employees.
Work environment in the networth stock broking ltd is very effective and the
performance of the employees is high. Employees are very much satisfied with the
quality of work and are benefited in all aspects of their physical and psychological needs.
The work culture and the environment are conducive to work. People feel like family,
while doing the work, as a quality of work life brings them to work collectively and be
responsible to each other.
79
SUGGESTIONS:
Work Environment:
All the issues involved in creating a work environment have received a positive
response which ascertains the fact that NETWORTH STOCK BROKING is inclined
towards providing a very important comfortable and an organized work environment to
its employees, where in they can operate to the best of their abilities. NETWORTH
STOCK BROKING should continue to maintain the level of satisfaction in order to attain
long term benefits.
Compensation and Rewards:

The compensation and rewards system followed by NETWORTH STOCK
BROKING should be continued and if possible certain changes can be made to increase
the level of satisfaction and acceptability among its employees. NETWORTH STOCK
BROKING need to pay more in order to attract, motivate and retain the best and brightest
employees.
Facilities:
NETWORTH STOCK BROKING has identified that the benefits offered to the
employees should be competitive and suffices the needs of the employees and their
families. It is suggested organization can contemplate modifying these benefits
periodically depending on what the organization intends to achieve through the benefits.
Training and development:

Training is co-operative, problem-solving, initiate relations between employees
and employers, builds trust. Employees should be encouraged to avail all opportunities to
80
participate in training programmes and such certificates should be considered while
promoting.
CHAPTER-7
BIBLIOGRAPHY
ANNEXURE
81
BIBLIOGRAPHY
BOOKS:
• Arun Monappa & Mirza Saiyadain: Personnel Management, Second edition
• Biswajeet Pattanayak: Human Resource Management, Third edition.
• P.Subba Rao: Personnel and Human Resource Management, Text & Cases,
Himalaya Publishing House.
WEBSITES:
www.qwl.com
82
QUESTIONNAIRE ON “QUALITY OF WORK LIFE”
I R.Vijay a student of St.Paul’s College studying Master of Business Administration
(MBA), as part of curriculum, I am carrying out a dissertation entitled “QUALITY OF
WORK LIFE” with special reference to Networth stock broking ltd. For this I need your
kind co-operation. Kindly fill in the following questionnaire to successfully complete my
dissertation.
_______________________________________________________________________
Designation: Age:
_______________________________________________________________________
_
Please ‘Tick’ your choice
1. How long have you been working fo networth stock broking ltd?
)a Less than one year b) One – Two years
c) Two – Five years d) Five years or more
Work environment:
2. How motivating is the work environment?
a) Extremely motivating b) Fairly motivating
c) Neither motivating nor demotivating
3. I am satisfied with the working conditions provided by the NSBL.
a) Strongly agree b) Agree
c) Disagree d) Strongly disagree
Organization culture and climate:
4. Do the other departments in theorganisation cooperate with each other?
a) Yes b) No
5. Do you feel free to offer comments and suggestions?
a) Yes b) No
Relation and co-operation:
83
6. There is a harmonious relationship with our colleagues in NSBL.
7. Sense of belongingness increase with the cooperation.

Training and development:
8. How far training programmes helps an employee to achieve the required skill for
performing the job efficiently?
a) To great extent b) To some extent c) Rarely
9. Do you think the training programmes helps in improving relationship among
employees?
a) Yes b) No
10. How would you rate the programmes overall?
Very useful 5 4 3 2 1 little use
11. Please comment on the following infrastructure

Excellent Poor
a) Classroom/seating arrangement 5 4 3 2 1
)b Audio visual arrangement 5 4 3 2 1

)c Quality of lunch 5 4 3 2 1
)d Traveling facility 5 4 3 2 1
Compensation and Rewards:

Do you feel...
12. I am given adequate and fair compensation for the work I do?

84
13. My organization will pay salary by considering responsibilities at work

14. NSBL does a good job of linking rewards to job performance
Facilities:
15. Fringe benefits provided to you….
a) Insurance b) Retirement benefit
c) Health checkup d) All the above
16. Does the NSBL provide you the social security benefits?
a) Yes b)No
Job satisfaction and job security:
17. Do you feel comfortable and satisfied with your job?
a) Satisfied b) Neutral b) Dissatisfied
18. Do you feel secured about your job?
)e Yes b) No
Freedom of work:
19. I feel that my work allows me to do in a particular area where I can do best.
b) Disagree d) Strongly disagree
Adequacy of Resources:
20. There is a balance between stated objectives and resources provided by the
NSBL.
85
86

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A STUDY ON

QUALITY OF WORK LIFE

Submitted in Partial fulfillment of requirement for the Award of

MASTER OF BUSINESS ADMINISTRATION

……. Signature of the Student

Name of the stu

The methodology which was implemented was to collect data by questionnaire

CHAPTER TWO: COMPANY PROFILE 9-22

CHAPTER THREE: REVIEW OF LITERATURE 23-34

CHAPTER FOUR: QWL AT NETWORTH STOCK BROKING LTD

CHAPTER SIX: 65-68

SL.NO. TABLE NAME Page no.

QUALITY OF WORK LIFE is most debated topic both by employers and

As the significance of human resources being established many new sub-systems

Importance of the study is to achieve main greater human satisfaction, improving

Therefore, it is very important to identify the need of Quality of work life in an

The QUALITY OF WORK LIFE is an important aspect to ascertain the causes

1. To find the employees perception with regard to the work environment.

SOURCES OF SECONDARY DATA:

• Finance and Accounts

• Respondents may not provide accurate information due to various reasons.

A world of intelligent investing

company at Bombay Stock Exchange (BSE), Mumbai since 1995.

cater to global markets. We are a Depository participant at Central Depository Services

National Commodity & Derivatives Exchange (NCDEX), through Networth Stock.Com

Strong team of professional’s experienced and qualified pool of human resources

Phone Nos.: 040-55560708, 55562256, and 30994985

49, Au Chambers, 4th Floor, Tamarind Lane, Fort

Mumbai - 400 001

Phone Nos.: 022- 22650253

Mumbai (Registered Office)

Phone No. 022-22850428

The Networth connectivity with 107 branches and growing

Products and services portfolio

• Research for institutional and retail clients

• Distribution of financial products

• A corporate office and 3 divisional offices in CBD of Mumbai which houses

• Web enabled connectivity and software in place for net trading.

• 60 operative ID’s for dealing room

• In house technology back up team to ensure un-interrupted connectivity.

& employee strength over 400

Market & research

Focusing on your needs

Networth providing following services to their customers,

Daily Morning Notes

Theme Based Reports

services. In the process, Networth will strive to exceed Customer’s expectations.

As per the quality policy, Networth will:

 Build in house processes that will ensure transparent and harmonious

will help in keeping up its commitments to the customers.

adequate knowledge & skill so as to respond to customer’s needs.

unparalleled standards in business ethics.

 Use state-of-the art information technology in developing new and innovative

Strive to be a reliable source of value-added financial products and services and

and regulatory authorities) proud and satisfied.

• Mr. S P Jain – CMD Networth Stock Broking Ltd.

A qualified Chartered Accountant with over 15 years of experience in the

• Mr. Deepak Mehta – Head PMS

experience of serving on the Equity desk of Reliance.

• Mr.Viral Doshi – Equity Strategist

A qualified Chartered Accountant with experience of over a decade in technical

analysis with respect to equity markets.