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CHAPTER V
FINDINGS, SUGGESTIONS AND CONCLUSION
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CHAPTER V
FINDINGS, SUGGESTIONS AND CONCLUSION
5.1. FINDINGS
In this study on Impact Of Employee Empowerment In SSM Finance, Chennai.
Following results can be interpreted.
• Majority respondents are strongly agree feel that their organization operates quality circle
which provides me an opportunity For contributing my ideas to work related problem
• Many of the respondents strongly agree about believing that they have the freedom to
act suddenly in my job for meeting customer expectation
• Most of the respondents are neutral in feeling that they have autonomy in organizing the
way of doing things in my job.
• Most of the respondent disagree in feeling top managers and low cadre employees mix up
freely in our organization.
• Most of the respondent agree and feel non managers are allowed to participate in decision
making.
• Most of the respondent agree and feel at work am encouraged for my development.
• Most of the respondent agree and feel promotions are fair and equitable.
• Most of the respondent agree and feels management recognizes and makes use of my
abilities and skills.
• Most of the respondent agree .and feel their organization regularly supplies information
to employee about the performance of our competitors
• Majority respondents are strongly agree and feel their organization offers me good
opportunity for acquiring skills in team work.
• Most of the respondent agree and feel that they take a positive attitude toward myself.
• Most of the respondent agree and feel that they can understand the ideas and skills taught
at my training
• Most of the respondent agree Feel Promotion Policy Of Their Organization Needs To Be
Modified.
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• Most of the respondent agree and feel that they have informed of what knowledge skills,
information my colleagues have
• Most of the respondents are feels Neutral When Their Colleagues Help Them During
Their Hard Times .
• Most of the respondents are Neutral and feel during discussion or brainstorming
seminars, people turn to me and ask for my advice
• Most of the respondents are Neutral feeling about their job security
• Many of the respondents feels that they Strongly Agree about the working conditions on
their job
• Most of the respondent Disagree in believing way of their boss handles his/her
employees
• Majority respondents are strongly agree in believing way of their job provides for a
secure future.
5.2. SUGGESTIONS
On the basis of findings of the present study, the following suggestions are made to improve the
empowerment and job satisfaction of employees in Financial service. The finance company have
to provide clear goals, clear lines of authority and clear task responsibilities. While the autonomy
is present, employees are also aware of their decision- making boundaries. Clear lines reduce the
disabling uncertainty and ambiguity that so often accompany empowerment efforts. The
information, which is assumed to be critical to empowerment efforts, is related to mission and
the employee’s performance. Information like vision, mission, goals, financials, performance
objectives, quality and productivity needs to be communicated to employees at all levels. Such
information becomes both a need and result of a participative climate that is so essential to an
empowerment process. In a participative climate high value is placed on trust between different
levels of employees. Those who can achieve results are valued; specialists and experts are highly
trusted. Friendly relations are regarded as valuable. These two attributes require a clear vision
and challenge as well as openness and team work. In addition to having the need to share
information and a participative climate, training and rewards are also important. Employees need
relevant training and knowledge to be able to take decisions on their own. They must learn how
to work collaboratively. They must also be taught the tools of problem solving and
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understanding finance sector performance. Finance sector must make structured and continuous
efforts to identify training gaps and upgrade the skills of the employees. Recognition of a job
well done is essential to any empowerment programme. Empowered employees take on
increased responsibility and accountability and they need to be compensated for the same. A
reward system should be perceived as fair and just by all the employees. Standards against which
performance has to e measured should be clearly defined. An open discussion regarding
performance needs to be incorporated in any reward policy. The finance sectors should facilitate
an empowerment climate by changing structures, policies, procedures and practices, with hopes
of creating a non-threatening environment that signals to their employees that behaving in an
empowered manner is encouraged and desired. The systematic leader communication training
programmes should be developed to build an effective hierarchical communication system as it
represents a major building block of internal communication. Since managers interact with their
subordinates on a daily basis, and their demonstrated leadership style influences employees
‘overall perceptions toward the finance sectors, managers of different levels should be trained to
communicate accurately, clearly, and effectively with their subordinates. Public relations
professionals can help by providing training and coaching to develop effective leader
communication skills, crafting messages, evaluating leadership communication effectiveness as
well as rewarding leaders who do well in communication. Finance sectors should remove the
barriers to self-esteem and taking chance, letting employees select choices for meeting his or her
own needs. This leads to empowerment and job satisfaction as well as flourish and creativity and
innovation in the finance sectors. Finance sectors should provide requirements for employees
feeling meaningful to prevent wasting of capacities. Respect and helping people in their personal
problems are required to give a meaning to their activities. This leads to their encouragement and
empowerment, being more innovate and efficient .Finance sector manager must support creative,
innovative and responsible work forces, leading to the employee’s empowerment. The finance
sectors should adopt transformational leadership style which is strategic, inspiring, interactive,
empowering, democratic, and relational-oriented not only affects employees‘ motivation,
productivity, and performance, but also shapes employees‘ favorable perception of the finance
sectors. The finance sectors should increase the meaning, self-determination, competence and
impact dimensions of empowerment, if they want their employees to attain more satisfaction in
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their jobs. Thus, to achieve higher performance and job satisfaction, it is suggested that
employee empowerment should be encouraged in finance sectoring sector of India.
5.3. CONCLUSION
Thus the study on impact of Employee Empowerment in SSM Finance Ltd, Chennai is
surveyed using a questionnaire and interviewing method. And the data collected are analysed and
the solutions and recommendations suggested by the employees are enlisted. Nearly half of the
employees have moderate level of empowerment and nearly half of the employees have
moderate level of satisfaction. There is a significant difference between gender and dimensions
of employee empowerment except gender and rewards and gender and information and there is a
significant difference between types of finance sector And dimensions of employee
empowerment except types of finance sector and information. There is a significant difference
between age group and dimensions of employee empowerment and there is a significant
difference between educational qualification and dimensions of employee empowerment. There
is a significant difference between designation and dimensions of employee empowerment and
there is a significant difference between experience and dimensions of employee empowerment
except experience and power, experience and information. There is a significant difference
between number of trainings attended and dimensions of employee empowerment except number
of trainings attended and power and number of trainings attended and information and there is a
significant difference between monthly income and dimensions of employee empowerment
except monthly income and leadership. There is a significant association between age group and
level of employee satisfaction, educational qualification and level of employee satisfaction,
monthly income and level of employee satisfaction and number of trainings attended and level of
employee satisfaction. Many management theorists believe that manager is a significant agent in
promoting or retarding change and organizational development. He holds a key position in the
improvement of his professional staff. He is the acknowledged and appointed status leader.
Whether the organization becomes a challenging professional enterprise or a dull and dreary
place for employees depends on the quality of the leadership he/she provides for his employees.
The function of the manager as a leader should be to help the individual employee to obtain
self-actualization and the organization to fulfil its objectives.
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Web Links :
• [Link]
• [Link]
• [Link]
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A STUDY ON EMPLOYEE EMPOWERMENT IN SSM FINANCE AND
REALTY AT CHENNAI
QUESTIONNAIRE
• Name :
• Age- group :
a) 18-25 b) 25-30 c) 30-40 d) Above 45
• Gender :
a) Male b) Female
• Marital status :
a) Married b) Unmarried
• How long you are working in the organisation :
a) Below 1yr b) 1-3 yr c) 3-6 yr d) above 6 yr
[Link] HS S N DS HDS
analyze the employees attitude towards the
concept of Empowerment
1 My Finance operates quality circle which provides
me an opportunity
for contributing my ideas to work related problem.
2 I have the freedom to act suddenly in my job for
meeting customer Expectation.
3 I have autonomy in organizing the way of doing
things in my job.
4 Top managers and low cadre employees mix up
freely in our finance
5 Non managers are allowed to participate in
decision making.
51
the employees opinion about their management
contribution towards Empowerment.
6 At work am encouraged for my development.
7 promotions are fair and equitable.
8 Management recognizes and makes use of my
abilities and skills.
9 My organization regularly supplies information to
employee about the
performance of our competitors.
10 My organization offers me good opportunity for
acquiring skills in team
work.
Analyze the decision making and control power
of employees
11 I take a positive attitude toward myself.
12 I can understand the ideas and skills taught at my
training.
13 I am informed of what knowledge skills,
information my colleagues
have.
14 During discussion or brainstorming seminars,
people turn to me and
ask for my advice.
To find out whether the employees are satisfied
with the current working Environment.
16 My job security
17 The work conditions on this job
18 The amount of pay for the work I do
19 The way my boss handles his/her employees
20 The way my job provides for a secure future
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HIGHLIGHTS OF SSM FINANCE PVT LTD
• Equity-Ownership status of the company : Private
• Operational status : Service and
Marketing
• Marketing status : National
• Year of starting : 2004
• Wages payment : 350
• Total employees of the company : Monthly
• Name of the company : SSM Finance and Realty
Pvt Ltd
• Company activities : Financing and
Investing
• Promotion : Performance and
Seniority
• Product type : Loans, Asset
Management and Real
Estate