Employee Rewards in Coir Industry Study
Employee Rewards in Coir Industry Study
INTRODUCTION
INTRODUCTION
There are a number of different types of reward programs aimed at both individual
and team performance.
Variable Pay
Bonuses
Bonus programs have been used in American business for some time. They
usually reward individual accomplishment and are frequently used in sales
organizations to encourage salespersons to generate additional business or higher
profits. They can also be used, however, to recognize group accomplishments.
Indeed, increasing numbers of businesses have switched from individual bonus
programs to one which reward contributions to corporate performance at group,
departmental, or company-wide levels.
Profit Sharing
RECOGNITION PROGRAMS
For small business owners and other managers, a recognition program may
appear to be merely extra effort on their part with few tangible returns in terms of
employee performance. While most employees certainly appreciate monetary
awards for a job well done, many people merely seek recognition of their hard
work. For an entrepreneur with more ingenuity than cash available, this presents an
opportunity to motivate employees. Nor will the entrepreneur be far off the mark.
As Patricia Odell reported, writing for Promo, "Cash is no longer the ultimate
motivator." Odell cited data from the Forum for People Performance Management
and Measurement at Northwester University—which had discovered that non-cash
awards tend to be more effective; the exception was rewarding increasing sales.
1.2 INDUSTRY PROFILE:
Coir is the native name of the fibre extracted from coconut husk, the fibrous
mass surrounding coconut, the fruit of the perennial plant cultivated extensively in
the tropics'. There is every reason to believe that the word 'Coir' has its origin from
the Malayalam word 'Kayar' which means a cord, string or yarn spun out of fibre
extracted from the husk of the coconut Cocos fibre or coir extracted from the husk
of the coconut is classed among the industrial hard fibres which enter the world
market in the form of fibre, spun yarn or floor coverings. Kerala, the land of
coconut palm, got its name by this fact from the Sanskrit word 'Kera', the name for
coconut tree. The word coir was supplied to the European vocabulary by
MarcoPolo, the talia an trave1ler. The Coir Industry has a very long history in
India. Rope and Cordage made out of coconut fibre have been in use from ancient
times. Indian navigators who sailed the Seas to Malaya, Java, China, and to the
Gulf of Arabia, centuries ago, had been using coir as their Ships Cables. Arab
writers of the eleventh century referred to the extensive use of coir as ship cable,
fenders and riggings.
The coir yarn, when woven into fabrics, takes various forms, namely
mattings, mats, rugs, maurzouks and carpets, according to the types of the material
used the pattern of weaving, texture and thickness. These products are used for
both decorative and functional purposes. The major coir products are discussed
below:
Our industry has also been awarded by THE COIR BOARD as the “BEST
CURLED COIR MANUFACTURER”, which makes our company to be placed in
the lime light of Tamilnadu Coir Industry.
PRODUCT SPECIFICATIONS:
ORGANISATION STRUCTURE
PROPREITOR
MANAGER
SALES ACCOUNTS WORKSHOP
DEPARTMENT DEPARTMENT DEPARTMENT
SALES
Supervisor
Accountant
MANAGER
Worker
2. REVIEW OF LITERATURE
2.1INTRODUCTION
Literature review is a systematic, explicit and reproducible method for
identifying, evaluating and synthesizing the existing body of completed and
recorded work produced by researcher, scholars and practitioners. Literature
review established the theoretical knowledge and methodological contributions to
concern on my study. This chapter is stated to discuss the issues regarding the aim
and objectives of my study field through previous literature based on this study.
1. Khawaja Jehanzeb This study aims to examine the impacts of rewards and
motivation using perceived amount of rewards on job satisfaction in both
public and private banks of Saudi Arabia. In this study 568 employees were
participated from both sectors. To conduct the study regression analysis was
developed to test the relationship between rewards, motivation and job
satisfaction. Results indicate that (1) rewards have positive significance on
motivation, (2) motivation is positively related to the job satisfaction (3)
rewards have a positive significant effect on job satisfaction. The results are
inconsistent with previous studies conducted to analyse the relationship of
rewards, motivation and job satisfaction in different contexts.
2. Peter Agyekum Boateng, The main aim of the study was to examine the
impact of reward and recognition on job satisfaction and motivation. The
specific objectives were to assess the relationship between reward and work
motivation and job satisfaction; to identify academic staff’ and
administrators’ perceptions about reward and recognition and to explain
challenges of reward implementation in private tertiary institutions. The
study employed descriptive survey design in gathering data from 157
academic staff, from a total number of seven private tertiary institutions
which were selected through stratified sampling. Respondents from these
seven private tertiary institutions were conveniently and purposively
selected. The study observed that rewards had a positive impact on work
motivation but no significant relationship existed between reward and job
satisfaction. Again, both academic staff and university administrators
perceived rewards as fair. Challenges facing private tertiary were the lack of
funds, pressure from unions and other interest groups, existence of many
qualified people for rewards at a particular time coupled with academic staff
emphasizing direct monetary rewards.
3. Rizwan Qaiser Danish, Human resources are the most important among all
the resources an organization owns. To retain efficient and experienced
workforce in an organization is very crucial in overall performance of an
organization. Motivated employees can help make an organization
competitively more value added and profitable. The present study is an
attempt to find out the major factors that motivate employees and it tells
what is the relationship among reward,recognition and motivation while
working within an organization. The data were collected from employees of
diverse type of organizations to gain wide representation of sectoral
composition. In all, 250 self administered questionnaires were distributed
among the employees of different sectors and they returned 220 completed
useable questionnaires for response rate of 88%. The participation in survey
was voluntary and confidentiality of responses was ensured. The statistical
analysis showed that different dimensions of work motivation and
satisfaction are significantly correlated and reward and recognition have
great impact on motivation of the employees. Implications of the study for
managers and policy makers in the context of human resource practices have
been discussed. Limitations and guidelines for future research are also
provided.
4. Ayesha Binte Safiullah, In the age of globalization organizations have
realized the importance of their human resources and become increasingly
interested in managing employees in such a way that can enhance business
performance. To ensure competitive advantage, people who are working for
the organization should be motivated by providing a well-balanced reward
and benefit system. The purpose of this study is to identify the relationship
between rewards (extrinsic and intrinsic) and their impact on employee
performance and actions to motivate the employees of Telecommunication
industry. The data was collected from 81 employees of different
telecommunication companies and was analyzed using mean values and
frequency percentage tables. The result concludes that, with the
advancement in the career path, income level and age intrinsic rewards
become the vital factor for the employee motivation. However,
organizations should consider for a more structured reward system that
considers both intrinsic and extrinsic rewards which in turn prospers high
performance culture in the telecom industry.
5. Muhammad Ibrar, A reward system is important for the employee
performance. As employee performance will be more effective to high
reward system. That how to be high performance is base high reward vice
versa. Job performance is also part of human resources management.
Performance is an important for the organization succession and achieving
the goals. There is so much changing occurring in the school education in
the world an every school has much relay on employee’s good performance.
Rewards are considered an important tool to check the employee’s
performance in every organization. Management use rewards for employees
motivations. So we can say that effective reward system attract new
employees for organization and motivate existing employees to perform
high levels. Employee’s good work is necessary to achieve the specific
goals. Employees give their good efforts for achieving goals and good effort
depends on rewards. In other words we can say that good rewards are most
important way to engage the employees with their work and with their
organization.
6. Schuler and Jackson (1996), the connection and relationship between
rewards, motivation and job satisfaction of employees have much
significance to success of both public and private sectors. Employees want
to get both types of rewards means financial and nonfinancial rewards.
Some employees of school prefer the financial rewards and other are
nonfinancial rewards that opportunity to take an important tasks and
projects, attention and encouragement of leadership. In this way employees
feel that they are being valued by the employers and also feel that the
company is seriously involved in employee’s career and development. So
these rewards contribute to improve the satisfaction level of workers,
different employees have different needs about rewards. Some employees
consider cash is sufficient to fulfill their needs and some others wants to
material incentives like car, house, and some prefer holidays and some
prefer nonmaterial incentives. Public sector employees much
CHAPTER 3
3. RESEARCH METHODOLOGY
3.1 INTRODUCTION
Research is an art of scientific investigation. Research as a careful
investigation or inquiry, specializes through search for new fact in any branch at
knowledge there is a need for a methodology to do research in all field of study
thus the research utilize the following method for conducting this study.
To assess the relationship between reward and work motivation and job
satisfaction.
To identify academic staffs’ and administrators’ perceptions about reward
and recognition.
To find out challenges private tertiary institutions encounter in rewarding
and recognizing employees.
Secondary data’s are in the form of finished products as they have already
been treated statistically in some form or other. The secondary data mainly consist
of a data and information. The secondary data collected from records, company
websites and also discussion with the management of the organization. Secondary
data was also collected from journals, magazines and books.
Correlation analysis
Percentage analysis
‘Chi square analysis
Some of the information given by the respondents may not be reliable (bias).
The validity of the study depends on reliability of the primary data.
Time constrain is unavoidable limitation of my study.
CHAPTER 4
The data collected from the responses to the questionnaire was tabulated and
appropriate statistically methods were applied to it. Frequency distribution of
various responses for each question was analyzed using chart. Analyse was done
by percentage analysis, chi square analysis, and correlation coefficient.
4.1AGE OF THE RESPONDENTS
30%
40%
21-30
31-40
41-50
30%
INTERPRETATION:
The above Table 4.1 shows that, the 30% of the respondents are belongs to
the age group of 21-30 years, 30% of the respondents are belongs to the age group
of 31-40 years and remaining 40% of the respondents are belongs to the age group
of 41-50 years.
Male 22 44
Female 28 56
Total 50 100
Gender
Male
44%
Female
56%
INTERPRETATION:
The above Table 4.2 shows that, the 44% of the respondents are male and
remaining 56% of the respondents are female.
Below 10000 16 32
10500-20000 26 52
20500-30000 8 16
Total 50 100
Income
16%
32% Below 10000
10500-20000
20500-30000
52%
INTERPRETATION
The above table 4.3 shows that, the 32% of the respondents are comes under
the income below 10000, 52% of the respondents are comes under the income
10500-20000 and the remaining 16% of the respondents are comes under the
income 20500-30000.
S.S.L.C 26 52
H.S.C 18 36
GRADUATE 6 12
Total 50 100
Educational Qualification
12%
S.S.L.C
H.S.C
GRADUATE
52%
36%
INTERPRETATION
The above Table 4.4 shows that 52% respondent had their educational
qualification up to Secondary level, 36% respondent had their educational
qualification up to Higher secondary level and only 6% respondent had their
educational qualification up to graduate level.
Highly Satisfied 36 72
Satisfied 12 24
Neutral 2 4
Total 50 100
Chart 4.16 Needs clearly fulfilled
Highly Satisfied
24%
Satisfied
Neutral
72%
INTERPRETATION
The above table shows that, 72% of the respondents are highly satisfied with
the customer needs were clearly fulfilled, 24% of the respondents are satisfy with
the needs were clearly fulfilled, 4% of the customers are having neutral option.
INTERPRETATION
Above table shows that 64% respondent with strongly agree, 20%
respondent with agree, 10% respondent with uncertain,4% respondent with
disagree,2% respondent with strongly disagree.
Table 4.18 Working Conditions Are Clean, Pleasant & Safe of Respondent
Strongly agree
16% Agree
Uncertain
Disagree
Strongly disagree
80%
INTERPRETATION
Above table shows that 80% respondent with strongly agree, 16%
respondent with agree, 4% respondent with uncertain, 0% respondent with
disagree, 0% respondent with strongly disagree.
4% 4%
2%
Strongly agree
Agree
16% Uncertain
Disagree
Strongly disagree
74%
INTERPRETATION
Above table shows that 74% respondent with strongly agree, 16%
respondent with agree, 2% respondent with uncertain, 4% respondent with
disagree, 4% respondent with strongly disagree.
24%
INTERPRETATION
Above table shows that 52% respondent with strongly agree, 24%
respondent with agree, 0% respondent with uncertain, 12% respondent with
disagree,12% respondent with strongly disagree.
Table 4.18 Supervisor Take Interest in Our Problem, Well Being Future
Strongly agree
Agree
28% Uncertain
Disagree
Strongly disagree
70%
INTERPRETATION
Above table shows that 70% respondent with strongly agree, 28%
respondent with agree, 2% respondent with uncertain, 0% respondent with
disagree, 0% respondent with strongly disagree.
Strongly agree
26% Agree
Uncertain
Disagree
52% Strongly disagree
18%
INTERPRETATION
Above table shows that 52% respondent with strongly agree, 18%
respondent with agree, 26% respondent with uncertain, 2% respondent with
disagree, 2% respondent with strongly disagree.
4.12 Level of Agreeability of the Employees about the need for the
improvement on Reward and Recognition System.
Table 4.18 Need for the improvement on Reward and Recognition System.
64%
INTERPRETATION
Above table shows that 64% respondent with strongly agree, 30%
respondent with agree, 2% respondent with uncertain, 2% respondent with
disagree, 2% respondent with strongly disagree.
6%
Strongly agree
Agree
Uncertain
Disagree
38% Strongly disagree
56%
INTERPRETATION
Above table shows that 56% respondent with strongly agree, 38%
respondent with agree, 0% respondent with uncertain, 6% respondent with
disagree, 6% respondent with strongly disagree.
4.14 Level of Agreeability of the Employee that they feel positive commitment
and loyalty.
Table 4.18 Employee that they feel positive commitment and loyalty
84%
INTERPRETATION
Above table shows that 84% respondent with strongly agree, 12%
respondent with agree, 2% respondent with uncertain, 2% respondent with
disagree, 0% respondent with strongly disagree.
18%
INTERPRETATION
Above table shows that 52% respondent with strongly agree, 18%
respondent with agree, 24% respondent with uncertain, 4% respondent with
disagree, 2% respondent with strongly disagree.
90%
INTERPRETATION
Above table shows that 90% respondent with strongly agree, 6% respondent
with agree, 2% respondent with uncertain, 0% respondent with disagree, 2%
respondent with strongly disagree.
79%
INTERPRETATION
Above table shows that 82% respondent with strongly agree, 10%
respondent with agree, 6% respondent with uncertain, 4% respondent with
disagree, 2% respondent with strongly disagree.
74%
INTERPRETATION
Above table shows that 74% respondent with strongly agree, 14%
respondent with agree, 2% respondent with uncertain, 4% respondent with
disagree, 6% respondent with strongly disagree.
INTERPRETATION
Above table shows that 58% respondent with strongly agree, 38%
respondent with agree, 2% respondent with uncertain, 2% respondent with
disagree, 0% respondent with strongly disagree.
20%
INTERPRETATION
Above table shows that 48% respondent with strongly agree, 20%
respondent with agree, 22% respondent with uncertain, 6% respondent with
disagree, 4% respondent with strongly disagree.
4.2 CORRELATION
Hypothesis:
H0: There is no significant relationship between the fulfilment of customer needs
and the loyalty of customer towards Madavammal Coir Industry.
Table 4.2.1
Correlations
Customer Need
Loyalty Fulfilled
Pearson 1 .120
Customer Correlation
Loyalty Sig. (2-tailed) .407
N 50 50
Pearson .120 1
Correlation
Need Fulfilled
Sig. (2-tailed) .407
N 50 50
AIM:
To test significant relationship between the customer suggestion of
Madavammal Coir Industry to their friends/relatives and reason for suggestion.
Reasons
Observed Expected Residual
N N
Quick Response 12 12.5 -.5
Trust 26 12.5 13.5
Worthiness
Timely 8 12.5 -4.5
Response
Friendly 4 12.5 -8.5
Atmosphere
Total 50
Test Statistics
Reasons
Chi-Square 22.000a
Df 3
Asymp. Sig. .000
The expected value is less than the level of significance. So that there is a
significant relationship between the customer suggestion of Madavammal Coir
Industry to their friends/relatives and reason for suggestion
CHAPTER 5
[Link]
6.1 SUGGESTION
In the madavammal coir industry employees feel that the salary structure is
very good but give amount is not satisfactory. 55%of the employees are
satisfied by their salary and increment, financial reward. as it is very low
rate
The higher number of employees (85%) has given strongly agree. It means
in madavammal coir industry the belongingness employees are very good.
They have a good relationship with everyone.
65% of employees are satisfied with recognition programs and performance
appraisal system. But 35%of the employee is still feeling that the
performance appraisal system and recognition programmer are not proper.
The higher numbers of employees have given positive response but still
there is scope for improvement.
The HR department should make the job more challenging. Exciting and
meaningful by the factor like goal setting. Creative work. Job rotation. Skill
diversity.
CHAPTER 7
7.1 CONCLUSION
Motivation is an aspect which covers almost all the employee from the
managing directors to his peon. The motivation is a live issue for all. Motivation is
psychological concept. Motivation is not a cause but rather the effect or result of
many going awry. Motivation drifters from person to person, industry to industry,
level of education age, nature of work etc. Motivation may be range from very
high to very low. By this study it is clear that various faction which influences
motivation and productivity of the employees each as Social Security measures,
welfare facilities, salary status, Bonus, heath condition, shift system and
recognition of work are getting much importance. Several approaches to
motivation are available. Early theories are too simplistic in their approach towards
motivation. To conclude employee motivation plays very important role in every
organization. Good employee motivation helps to success of the organization.
Unless an employee has poor motivation if always a possibility of employee
disharmony and also affect some thrumming of the organization. From the
financial and nonfinancial reward system make motivation in complete picture.
Form this we learn that how we applied the concept of motivation for the
progressive result of company
BIBLIOGRAPHY
April 2013.
QUESTIONNAIRE
1) Name :
(3) Age :
(4) Designation :
(5) Education :
a. Sslc [ ]
b. Hsc [ ]
c. Graduate [ ]
d. Post graduate [ ]
e. Other [ ]
a. 1 to 5 years [ ]
b. 6 to 10 years [ ]
c. 11 to 15 years [ ]
d. More than 15 years [ ]
(7) I am satisfied with the present salary and increment given to me.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(9) I feel that working conditions are clean, pleasant & safe in my organization.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(10) I feel that my welfare facilities provided by the company are adequate and
provide satisfaction to me.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(11) I am aware with policies and procedures to the company and I find that
satisfactory.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(13) Supervisors take interest in our problem, well being and feature.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(16) There is a clear and effective system of performance appraisal & career
development.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(17) I feel that my job has enough learning opportunities which will help me in
career advancement.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(18) I think there are right opportunities in this organization for my personal
growth and promotion.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(19) My organization helps me in all possible way to know my abilities,
capabilities, present performance and prospect for improvement.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(20) In our organization we are a given a chance to our present our ideas & the
same is given due weight age in decision making.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(21) The management of our calls for active participation of the employees in the
day to day functions of the organization.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
(24) I feel that the added authority and responsibility to present job will be more
interesting and rewarding.
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
a. Strongly agree [ ]
b. Agree [ ]
c. Uncertain [ ]
d. Disagree [ ]
e. Strongly disagree [ ]
The relationship between reward systems and employee performance is significant in that effective reward systems can attract new employees and motivate existing ones to perform at high levels. Rewards, both financial and nonfinancial, contribute to employees feeling valued and enhance their satisfaction and motivation . Different sectors may emphasize monetary or intrinsic rewards depending on career stages and industry demands. For example, in the telecommunication sector, with career progression, intrinsic rewards become more critical for motivation .
Rewards and recognition have a positive impact on labor productivity by enhancing motivation and engagement among employees. An effective reward and recognition program should be designed with labor productivity as a primary objective, incorporating both financial and nonfinancial rewards to cater to diverse employee needs . Most respondents believe that current systems are adequate for increasing productivity, with 90% agreeing .
Changes in employee motivation significantly impact organizational productivity. High motivation leads to better performance and achievement of organizational goals . Measures to enhance productivity include implementing comprehensive reward systems that address intrinsic needs and updating motivational programs to keep them aligned with employee expectations and industry standards .
Working conditions and welfare facilities significantly influence employee satisfaction. A substantial majority, 80% of employees, agree that their working conditions are clean, pleasant, and safe, and 74% are satisfied with the company's welfare facilities . These perceptions contribute to employees' overall satisfaction and commitment to the organization.
Reward systems enhance the perceived value and career development of employees by offering both financial and nonfinancial benefits. These systems make employees feel valued and indicate that the organization is invested in their career progression and personal development, thereby increasing their job satisfaction and loyalty .
Employees have diverse preferences for rewards; some prioritize financial incentives such as cash and material benefits, while others value nonfinancial incentives like holidays or significant work tasks. Organizations should develop flexible reward systems that address these varied preferences to satisfy employees and enhance motivation .
Both academic staff and university administrators perceive rewards as fair; however, there is no significant relationship between reward and job satisfaction among these groups . Challenges faced by private tertiary institutions include funding limitations, pressure from unions, and a large pool of qualified individuals vying for rewards at the same time .
Major motivators for employees include recognition, fair rewards, and opportunities for career development. Managers and policy makers can leverage these by ensuring that reward and recognition systems are balanced and aligned with employee and organizational goals, which, in turn, can lead to higher motivation and performance .
Intrinsic rewards become more important than extrinsic ones as employees advance in their careers, increase income levels, and age in the telecommunication industry . Organizations should implement a reward system that balances both intrinsic and extrinsic rewards to sustain high-performance cultures .
An inadequate salary structure can lead to dissatisfaction among employees, as evidenced by 55% of employees in the Madavammal Coir Industry being dissatisfied with their salary and increment rates, despite the perception of a fair salary structure . This dissatisfaction can affect motivation and loyalty negatively.