A FIELD SURVEY REPORT

ON
“A Study On JOB SATISFACTION OF EMPLOYEES AT
BIG BAZAAR"

Submitted Under Partial Fulfillment Of The 1st Year

Post Graduation Diploma In Management

SUBMITTED TO: SUBMITTED BY:

Mrs. Deepit Sharma Anamika Singh
(Assistant Professor) Roll No. PG 18/01
PGDM 1st Year

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 DECLARATION
I, Anamika Singh, student of PGDM programme having Roll no PG 18/01.

of session 2018-19, hereby declare, that this project report is the record of

authentic work carried out by me during the period from October to May for

the partial fulfillment of PGDM programme and has not been submitted to

any other University or Institute for the award of any degree / diploma etc.

Signature

Name of the student

Date

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 CERTIFICATE

This is to certify that Mr. / Ms. Anamika Singh Roll no PG18/01 of session

2018-19. has successfully completed the field survey project work titled

“JOB SATISFACTION OF EMPLOYEES AT BIG BAZAAR" in partial

fulfillment of requirement for the completion of PGDM programme as laid

out by the School of Management Sciences, Lucknow.

This project report is the record of authentic work carried out by him/her

during the period from October to May.

He/She has worked under my guidance.

Signature

Name of academic mentor

Date

3
 ACKNOWLEDGEMENT
Any fruitful work is in complete without a word of thanks to those involved

directly or indirectly in its completion. With my sincere gratitude I would like to thanks

everyone who has supported me in my project.

I would like to extend my sense of acknowledgement to learning Experience.

Their insight as well as guidance helped me understand the essentials of the report I

would like to thanks them for their support SMS Lucknow. for their immense help

and guidance that they have provided during the research report .The present work has

taken its sharp largely to their wise counsels, concrete and constructive suggestions.

To understand the essentials of the research report, I would like to thanks to my

Guide Mrs. DEEPTI SHARMA for their guidance.

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 PREFACE
Job satisfaction is, quite simply, how content or satisfied employees are with their jobs.
Job satisfaction is typically measured using an employee satisfaction survey. These
surveys address topics such as compensation, workload, perceptions of management,
flexibility, teamwork, resources, etc.
These things are all important to companies who want to keep their employees happy and
reduce turnover, but employee satisfaction is only a part of the overall solution. In fact,
for some organizations, satisfied employees are people the organization might be better
off without.

Job satisfaction and employee engagement are similar concepts on the surface, and many
people use these terms interchangeably. Job satisfaction covers the basic concerns and
needs of employees. It is a good starting point, but it usually stops short of what really
matters.

Job satisfaction is a result of various attitudes possessed by an employee in a narrow

sense these attitude are related to the job and are concerned with such specification
factors such as wages, supervision, steadiness of employment, conditions of work
advancement, opportunities, recognition of abilities, air evaluation of work social relation
in job, prompt settlement of grievances, air treatment by the employers and others similar
items.

However a more comprehensive approach requires that many additional factors be

included before a complete understanding of Job satisfaction can be attained. Such
factors such as Faculty members, age, health, temperament, desires and level of
aspiration should be considered.

In short Job satisfaction is a general attitude, which is a result of many specific aptitudes
in threes areas-namely specific job factors, individuals characteristics and group
relationship outside the job.

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 CONTENT

1. Introduction

2. Literature review

3. Company profile

4. Objective Of Study

5. Research methodology

6. Data analysis and Interpretation

7. Finding

8. Conclusion

9. Recommendations

10. Bibliography

11. Annexure

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 INTRODUCTION
Job satisfaction
Job satisfaction is a result of various attributes of the employees in an organization, any

employee who joins any organization has two primary goals ,firstly to survive and earn

money in organization with respect to his work profile and secondly to fulfill his dreams

and both of them are possible only when the employee is satisfied with the environment

in which he is working and thus, level of his comfort with the other employees, his

superiors ,peers and juniors so basically job satisfaction is a combination of all sorts of

attitudes possessed by an employee in a narrow sense these attitude are related to the job

and are concerned with such specification factors such as wages, supervision, steadiness

of employment, conditions of work advancement, opportunities, recognition of abilities,

air evaluation of work social relation in job, prompt settlement of grievances, air

treatment by the employers and others similar items.

Employee satisfaction and retention have always been important issues for physicians.

After all, high levels of absenteeism and staff turnover can affect your bottom line, as

temps, recruitment and retraining take their toll. But few practices (in fact, few

organizations) have made job satisfaction a top priority, perhaps because they have failed

to understand the significant opportunity that lies in front of them. Satisfied employees

tend to be more productive, creative and committed to their employers, and recent studies

have shown a direct correlation between staff satisfaction and patient satisfaction. 1

Family physicians who can create work environments that attract, motivate and retain

hard-working individuals will be better positioned to succeed in a competitive health care

environment that demands quality and cost-efficiency. What's more, physicians may even

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discover that by creating a positive workplace for their employees, they've increased their

own job satisfaction as well.

Definitions

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

Job satisfaction is a result of various attitudes possessed by an employee in a

narrow sense these attitude are related to the job and are concerned with such
specification factors such as wages, supervision, steadiness of employment, conditions of
work advancement, opportunities, recognition of abilities, air evaluation of work social
relation in job, prompt settlement of grievances, air treatment by the employers and
others similar items.

HISTORY

One of the biggest preludes to the study of Job satisfaction was the Hawthorne studies.
These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business
School, sought to find the effects of various conditions (most notably illumination) on
workers’ productivity. These studies ultimately showed that novel changes in work
conditions temporarily increase productivity (called the Hawthorne Effect). It was later
found that this increase resulted, not from the new conditions, but from the knowledge of
being observed. This finding provided strong evidence that people work for purposes
other than pay, which paved the way for researchers to investigate other factors in
Employees satisfaction.

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

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

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 MODELS OF JOB SATISFACTION

Affect Theory:

Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous Job
satisfaction model. The main premise of this theory is that satisfaction is determined by a
discrepancy between what one wants in a job and what one has in a job. Further, the
theory states that how much one values a given facet of work (e.g. the degree of
autonomy in a position) moderates how satisfied/dissatisfied one becomes when
expectations are/aren’t met. When a person values a particular facet of a job, his
satisfaction is more greatly impacted both positively (when expectations are met) and
negatively (when expectations are not met), compared to one who doesn’t value that
facet. To illustrate, if Employee A values autonomy in the workplace and Employee B is
indifferent about autonomy, then Employee A would be more satisfied in a position that
offers a high degree of autonomy and less satisfied in a position with little or no
autonomy compared to Employee B. This theory also states that too much of a particular
facet will produce stronger feelings of dissatisfaction the more a worker values that facet.

Dispositional Theory:

Another well-known Job satisfaction theory is the Dispositional Theory ]. It is a very

general theory that suggests that people have innate dispositions that cause them to have
tendencies toward a certain level of satisfaction, regardless of one’s job. This approach
became a notable explanation of Job satisfaction in light of evidence that Job satisfaction
tends to be stable over time and across careers and jobs. Research also indicates that
identical twins have similar levels of Employees satisfaction.

A significant model that narrowed the scope of the Dispositional Theory was the Core
Self-evaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there
are four Core Self-evaluations that determine one’s disposition towards Employees
satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This
model states that higher levels of self-esteem (the value one places on his/her self) and

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general self-efficacy (the belief in one’s own competence) lead to higher work
satisfaction. Having an internal locus of control (believing one has control over her\his
own life, as opposed to outside forces having control) leads to higher Employees
satisfaction. Finally, lower levels of neuroticism lead to higher Employees satisfaction.

Two-Factor Theory (Motivator-Hygiene Theory):

to Frederick Herzberg’s Two factor theory (also known as Motivator Hygiene Theory)
attempts explain satisfaction and motivation in the workplace [5] This theory states that
satisfaction and dissatisfaction are driven by different factors – motivation and hygiene
factors, respectively. An employee’s motivation to work is continually related to Job
satisfaction of a subordinate. Motivation can be seen as an inner force that drives
individuals to attain personal and organization goals (Hoskinson, Porter, & Wrench,
p.133). Motivating factors are those aspects of the job that make people want to perform,
and provide people with satisfaction, for example achievement in work, recognition,
promotion opportunities. These motivating factors are considered to be intrinsic to the
job, or the work carried out.[5] Hygiene factors include aspects of the working
environment such as pay, company policies, supervisory practices, and other working
conditions.

While Hertzberg's model has stimulated much research, researchers have been unable to
reliably empirically prove the model, with Hackman & Oldham suggesting that
Hertzberg's original formulation of the model may have been a methodological artifact. [5]
Furthermore, the theory does not consider individual differences, conversely predicting
all employees will react in an identical manner to changes in motivating/hygiene factors.
[5]
Finally, the model has been criticised in that it does not specify how
motivating/hygiene factors are to be measured.

Job Characteristics Model:

Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a
framework to study how particular job characteristics impact on job outcomes, including
Employees satisfaction. The model states that there are five core job characteristics (skill

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

Communication Overload and Communication Under load

One of the most important aspects of an individual’s work in a modern organization

concerns the management of communication demands that he or she encounters on the
job (Krayer, K. J., & Westbrook, L., p. 85). Demands can be characterized as a
communication load, which refers to “the rate and complexity of communication inputs
an individual must process in a particular time frame (Faraca, Monge, & Russel, 1977).”
Individuals in an organization can experience communication over-load and
communication under- load which can affect their level of Employees satisfaction.
Communication overload can occur when “an individual receives too many messages in a
short period of time which can result in unprocessed information or when an individual
faces more complex messages that are more difficult to process (Farace, Monge, &
Russel, 1997).” Due to this process, “given an individual’s style of work and motivation
to complete a task, when more inputs exist than outputs, the individual perceives a
condition of overload (Krayer, K. J., & Westbrook, L., p. 86) which can be positively or
negatively related to Employees satisfaction. In comparison, communication under load
can occur when messages or inputs are sent below the indiviaul’s ability to process them
(Farace, Monge, & Russel, 1997).” According to the ideas of communication over-load
and under-load, if an individual does not receive enough input on the job or is
unsuccessful in processing these inputs, the individual is more likely to become
dissatisfied, aggravated, and unhappy with their work which leads to a low level of
Employees satisfaction.

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 MEASURING JOB SATISFACTION

There are many methods for measuring job satisfaction. By far, the most common method
for collecting data regarding Job satisfaction is the Likert scale (named after Rensis
Likert). Other less common methods of for gauging Job satisfaction include: Yes/No
questions, True/False questions, point systems, checklists, and forced choice answers.
This data is typically collected using an Enterprise Feedback Management (EFM) system.

The Job Descriptive Index (JDI), created by Smith, Kendall, & Hulin (1969), is a
specific questionnaire of Job satisfaction that has been widely used. It measures one’s
satisfaction in five facets: pay, promotions and promotion opportunities, coworkers,
supervision, and the work itself. The scale is simple, participants answer either yes, no, or
can’t decide (indicated by ‘?’) in response to whether given statements accurately
describe one’s job.

The Job in General Index is an overall measurement of Employees satisfaction. It is an

improvement to the Job Descriptive Index because the JDI focuses too much on
individual facets and not enough on work satisfaction in general.

Other Job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire

(MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The MSQ measures Job
satisfaction in 20 facets and has a long form with 100 questions (five items from each
facet) and a short form with 20 questions (one item from each facet). The JSS is a 36 item
questionnaire that measures nine facets of Employees satisfaction. Finally, the Faces
Scale of Employees satisfaction, one of the first scales used widely, measured overall Job
satisfaction with just one item which participants respond to by choosing a face.

Superior-Subordinate Communication

Superior-subordinate communication is an important influence on Job satisfaction in the

workplace. The way in which subordinate’s perceive a supervisor’s behavior can
positively or negatively influence Employees satisfaction. Communication behavior such

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as facial expression, eye contact, vocal expression, and body movement is crucial to the
superior-subordinate relationship (Teven, p56). Nonverbal messages play a central role in
interpersonal interaction. 1s with respect to impression formation, deception, attraction,
social influence, and emotional expression (Burgoon, Buller, & Woodall, 1996).
Nonverbal immediacy from the supervisor helps to increase interpersonal involvement
with their subordinates impacting Employees satisfaction. The manner in which
supervisors communicate their subordinates may be more important than the verbal
content (Teven, p. 156). Individuals who dislike and think negatively about their
supervisor are less willing to communicate or have motivation to work where as
individuals who like and think positively of their supervisor are more likely to
communicate and are satisfied with their job and work environment. The relationship of a
subordinate with their supervisor is a very important aspect in the workplace. Therefore, a
supervisor who uses nonverbal immediacy, friendliness, and open communication lines is
more willing to receive positive feedback and high Job satisfaction from a subordinate
where as a supervisor who is antisocial, unfriendly, and unwilling to communicate will
naturally receive negative feedback and very low Job satisfaction from their subordinate’s
in the workplace.

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 JOB SATISFACTION AND EMOTIONS

Mood and emotions while working are the raw materials which cumulate to form the
affective element of Employees satisfaction. (Weiss and Cropanzano, 1996). Moods tend
to be longer lasting but often weaker states of uncertain origin, while emotions are often
more intense, short-lived and have a clear object or cause.

There is some evidence in the literature that state moods are related to overall Employees
satisfaction. Positive and negative emotions were also found to be significantly related to
overall Employees satisfaction.

Frequency of experiencing net positive emotion will be a better predictor of overall Job
satisfaction than will intensity of positive emotion when it is experienced.

Emotion regulation and emotion labor are also related to Employees satisfaction.
Emotion work (or emotion management) refers to various efforts to manage emotional
states and displays. Emotion regulation includes all of the conscious and unconscious
efforts to increase, maintain, or decrease one or more components of an emotion.
Although early studies of the consequences of emotional labor emphasized its harmful
effects on workers, studies of workers in a variety of occupations suggest that the
consequences of emotional labor are not uniformly negative.

It was found that suppression of unpleasant emotions decreases Job satisfaction and the
amplification of pleasant emotions increases Employees satisfaction. The understanding
of how emotion regulation relates to Job satisfaction concerns two models:

1. EMOTIONAL DISSONANCE

Emotional dissonance is a state of discrepancy between public displays of emotions

and internal experiences of emotions, that often follows the process of emotion
regulation. Emotional dissonance is associated with high emotional exhaustion, low
organizational commitment, and low Employees satisfaction.

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 2. SOCIAL INTERACTION MODEL

Taking the social interaction perspective, workers’ emotion regulation might beget
responses from others during interpersonal encounters that subsequently impact their
own Employees satisfaction. For example: The accumulation of favorable responses
to displays of pleasant emotions might positively affect Employees satisfaction.
performance of emotional labor that produces desired outcomes could increase
Employees satisfaction.

RELATIONSHIPS AND PRACTICAL IMPLICATIONS

Job Satisfaction can be an important indicator of how employees feel about their jobs and
a predictor of work behaviours such as organizational citizenship, absenteeism, and
turnover. Further, Job satisfaction can partially mediate the relationship of personality
variables and deviant work behaviors.

One common research finding is that Job satisfaction is correlated with life satisfaction.
This correlation is reciprocal, meaning people who are satisfied with life tend to be
satisfied with their job and people who are satisfied with their job tend to be satisfied
with life. However, some research has found that Job satisfaction is not significantly
related to life satisfaction when other variables such as non work satisfaction and core
self-evaluations are taken into account.

An important finding for organizations to note is that Job satisfaction has a rather tenuous
correlation to productivity on the job. This is a vital piece of information to researchers
and businesses, as the idea that satisfaction and job performance are directly related to
one another is often cited in the media and in some non-academic management literature.
A recent meta-analysis found an average uncorrected correlation between Job satisfaction
and productivity to be r=.18; the average true correlation, corrected for research artifacts
and unreliability, was r=.30. Further, the meta-analysis found that the relationship
between satisfaction and performance can be moderated by job complexity, such that for
high-complexity jobs the correlation between satisfaction and performance is higher
(ρ=.52) than for jobs of low to moderate complexity (ρ=.29). In short, the relationship of

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satisfaction to productivity is not necessarily straightforward and can be influenced by a
number of other work-related constructs, and the notion that "a happy worker is a
productive worker" should not be the foundation of organizational decision-making.

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

TURNOVER (EMPLOYMENT)

In a human resources context, turnover or Employees turnover is the rate at which an

employer gains and loses employees. Simple ways to describe it are "how long
employees tend to stay" or "the rate of traffic through the revolving door." Turnover is
measured for individual companies and for their industry as a whole. If an employer is
said to have a high turnover relative to its competitors, it means that employees of that
company have a shorter average tenure than those of other companies in the same
industry. High turnover can be harmful to a company's productivity if skilled workers are
often leaving and the worker population contains a high percentage of novice workers.

In the U.S., for the period of December 2000 to November 2008, the average total non-
farm seasonally adjusted monthly turnover rate was 3.3%.

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 COSTS

When accounting for the costs (both real costs, such as time taken to select and recruit a
replacement, and also opportunity costs, such as lost productivity), the cost of employee
turnover to for-profit organizations has been estimated to be up to 150% of the
employees' remuneration package. There are both direct and indirect costs. Direct cost
relate to the leaving costs, replacement costs and transitions costs, while indirect costs
relate to the loss of production, reduced performance levels, unnecessary overtime and
low morale.

Internal vs. external turnover

Like recruitment, turnover can be classed as 'internal' or external. Internal turnover

involves employees leaving their current position, and taking a new position with the
same organization. Both positive (such as increased morale from the change of task and
supervisor) and negative (such as project/relational disruption, or the Peter Principle)
effects of internal turnover exist, and thus this form of turnover may be as important to
monitor as its external counterpart. Internal turnover might be moderated and controlled
by typical HR mechanisms, such as an internal recruitment policy or formal succession
planning.

Skilled vs. unskilled employees

Unskilled positions often have high turnover, and employees can generally be replaced
without the organization or business incurring any loss of performance. The ease of
replacing these employees provides little incentive to employers to offer generous
employment contracts; conversely, contracts may strongly favour the employer and lead
to increased turnover as employees seek, and eventually find, more favorable
employment.

However, high turnover rates of skilled professionals can pose as a risk to the business or
organization, due to the human capital (such as skills, training, and knowledge) lost.

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Notably, given the natural specialization of skilled professionals, these employees are
likely to be re-Employees within the same industry by a competitor. Therefore, turnover
of these individuals incurs both replacement costs to the organization, as well as resulting
in a competitive disadvantage to the business.

VOLUNTARY VS. INVOLUNTARY TURNOVER

Practitioners can differentiate between instances of voluntary turnover, initiated at the

choice of the employee, and those involuntary instances where the employee has no
choice in their termination (such as long term sickness, death, moving overseas, or
employer-initiated termination).

Typically, the characteristics of employees who engage in involuntary turnover are no

different from job stayers. However, voluntary turnover can be predicted (and in turn,
controlled) by the construct of turnover intent.

Causes of high or low turnover

High turnover often means that employees are unhappy with the work or compensation,
but it can also indicate unsafe or unhealthy conditions, or that too few employees give
satisfactory performance (due to unrealistic expectations or poor candidate screening).
The lack of career opportunities and challenges, dissatisfaction with the job-scope or
conflict with the management have been cited as predictors of high turnover.

Low turnover indicates that none of the above is true: employees are satisfied, healthy
and safe, and their performance is satisfactory to the employer. However, the predictors
of low turnover may sometimes differ than those of high turnover. Aside from the fore-
mentioned career opportunities, salary, corporate culture, management's recognition, and
a comfortable workplace seem to impact employees' decision to stay with their employer.

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Many psychological and management theories exist regarding the types of job content
which is intrinsically satisfying to employees and which, in turn, should minimise
external voluntary turnover. Examples include Hertzberg's Two factor theory,
McClelland's Theory of Needs, and Hackman & Oldham's Job Characteristics Model

INVESTMENTS

Alternatively, low turnover may indicate the presence of employee 'investments' (also
known 'side bets') in their position: certain benefits may be enjoyed while the employee
remains Employees with the organization, which would be lost upon resignation (e.g.
health insurance, discounted home loans, redundancy packages, etc). Such employees
would be expected to demonstrate lower intent to leave than if such 'side bets' were not
present.

How to prevent turnover

Employees are important in any running of a business, without them the business would
be unsuccessful. However, more and more employers today are finding employees
remain for approximately 23 to 24 months according to the 2006 Bureau of Labor
Statistics. The Employment Policy Foundation states it costs a company on an average of
$15,000 per employee, including separation costs, including paperwork, unemployment;
vacancy costs, including overtime or temporary employees and replacement cots
including advertisement, interview time, relocation, training and decreased productivity
when colleagues depart. Providing a stimulating workplace environment in which fosters
happy, motivated and empowered individuals, which lowers employee turnover and
absentee rates. Promoting a work environment that fosters personal and professional
growth promotes harmony and encouragement on all levels, so the effects are felt
company wide.

Continual training and reinforcement develops a work force that is competent, consistent,
competitive, effective and efficient. Beginning on the first day of work, providing the

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individual with the necessary skills to perform their job is important. Before the first day,
it is important the interview and hiring process expose new hires to an explanation of the
company, so individuals know if the job is the best choice Providing ongoing
performance management by networking within the company to share the best practices,
helps build relationships among co-workers. Motivating employees to focus on customer
success, profitable growth and the company well being is important. Including employees
in on future plans, new purchases, policy changes, introducing new employees and
employees who have gone above and beyond at meetings keeps employees informed and
involved.[9] Early engagement and engagement along the way, shows employees they are
wanted through information or recognition rewards, making them feel included.

When companies hire the best people, new talent hired and veterans are enabled to reach
company goals, maximizing the investment of each employee. Taking the time to listen to
employees and making them feel involved will create loyalty, in turn reducing turnover
allowing for growth

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 CALCULATION

One typical method of calculating the turnover rate of a company is to divide the number
of employees who have left the organization within a year, by total number of employees
who work for that company in the same year.

Let's say there were 100 employees at the beginning of the year, and 100 employees at
the end of the year, and at the end of the year, 84 of those employees were the same ones
as were there the previous year. You might say that the turnover rate was 16%.

But suppose one of those 16 who left was actually replaced three times. The employee
quit in January, the replacement quit in April, and another person was hired who lasted
only until November. Then you might want to count every time an employee left the
company and another one was hired - in this case you'd get 18%.

Another complication: suppose the work force is 100 at the beginning and 90 at the end
of the year. Perhaps 16 people have left, but only 6 have been hired during the year, while
2 more were hired and retired within the same year. You might define turnover as 18/100
or as 18/90, or as 18/95, since 95 is the average of 90 and 100. Instead of 95, you might
want to do a fancier average, where you actually add up the number of employees on
each day of the year, and divide the total by 365.

One more complication: who decided it was a calendar year that we should use for
sampling the turnover rate? Perhaps there was no turnover at all for 3 years prior, and
then a shift in management caused a lot of people to leave this year. Then a more
representative measure would average over 2 or 3 or 4 years. Maybe you'd want to
average the turnover in each month of the last 48, but weight recent months more heavily
than earlier months.

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 RESEARCH DONE ON JOB SATISFACTION

Job Satisfaction is one of the most important concepts in the study of Employees
behaviour along with absenteeism productivity and turnover. Many researchers and
industrial psychologists are interest in finding factors that increase Job Satisfaction

Because it is related to the job behaviour, like performance and accident. This
project studies the determinants of Job satisfaction as Employees turnover they surveyed
59 Employees . To measure Job satisfaction they used Happock’s Job satisfaction Bank in
addition to self rating. Results from any respondents suggest that salary and stress level
do not influence Employees satisfaction. However, factors outside the job such as age
and marital status seem to correlate with Employees satisfaction. Those Employees
turnover who are married or living with a partner appear to be more satisfied than those
who are single or divorced. Age is positively correlated with Employees satisfaction.

Similarly, determinants related to job such as satisfaction in profession,

satisfaction in position perception of room for personal growth, perception of use of
talents and skills appear to maintain a positive relationship with Employees satisfaction.
These current finding are consistent with the Herzbeg’s two factor motivation theory.

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 JOB SATISFACTION IS MORE IMPORTANT THAN
MONEY OR PERKS: A RESEARCH

New research shows that Job satisfaction is more important than money or perks.
That’s according to a survey conducted by Eden recruitment. So it is not membership to
health clubs or fat salaries that Employees turnover want, but plain old fashioned
Employees satisfaction.

Job satisfaction was more common as motivating factor in IT and business

services. Sectors while the benefits package available manufacturing sectors.
Remuneration was also more common in the business services sectors than is other
sectors.
The results of survey which are given below, reveal the main motivating factors in an
employee’s decision to remain in or leave employment

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 JOB SATISFACTION FALLS FOR EMPLOYEES
TURNOVER: A FINDING

Employees turnover, servants face more stress says a survey. Job satisfaction
among Britain’s 6 m public sectors workers has fallen sharply over the past decades as
rising levels of stress have made work less enjoyable for doctors, Nurses, Teachers,
Lectures and Civil Servants said research published yesterday.

The study from Andrew Oswald and Jonathan Gardener of Warwick University
found that an increase depression, strain, Sleep loss and unhappiness during the 1990 had
made employment more pressurized and less enjoyable in the public realm.

Job satisfaction has dropped dramatically in the service class throughout the
90s stress has risen quite dramatically.

According to the research the decline in Job satisfaction was linked to rising
stress. The very heavy increase in work loads in the Service class has made workers
much less happy. all group of Faculty in Service class have become less satisfied at
work over the past decade, a period in which they have faced extra bureaucracy, pressure
to meet targets as well as the introduction of working practices from the private sector.

The sample of 5000 workers was interviewed each year through the 1990s with
stress levels assessed by the answers to 12 standard questions used to measure mental
distress and psychological ill health.

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 REASONS FOR JOB SATISFACTION
RESEARCH

Why seek information about Employees satisfaction? For an industrial organization

the consequences are extremely important. By discovering attitudes on factor related to
the job, a firm can correct certain bad situations and there by improve the Job satisfaction
of its staff. From this point of view if would – be justified in being concerned only with
this area and neglecting the individual geo and its employee adjustments to group outside
the plants. How ever and industrial organization can benefits materially. If is knows what
individual attitudes contribute to Employees satisfaction, for one thing applying this
knowledge will result in better selection procedures. This is a broad implication as for as
theJob satisfaction is concerned, and even though most industrial and business
organization, feel that it is not their problem, it nevertheless agrees exists. It is also
directly related to vocational guidance, schools and college’s, public and private
employment agencies, etc society as a whole must face it realistically.

26
THE IMPORTANCE OF HIGH JOB SATISFACTION
The importance of Job satisfaction is obvious, manager should be concerned with the
level of Job satisfaction in there organization for at least four reasons –
1) There is clear evidence that dissatisfied Employees turnover skip work
more often and are more likely to resign
2) Dissatisfied workers are more likely to engage in destructive behaviours.
3) It has been demonstrated that satisfied Employees turnover are batter
health and live longer.
4) Satisfaction on the job carries over to the Employees turnover life outside
the job.
An often overlook dimension of Job satisfaction is its relationship to Employees
turnover health, several studies have shown that Employees turnover who are dissatisfied
with their jobs are persons to health setback ranging from headaches to heart disease.
Some researchers even indicate that Job satisfaction is a better predictor of length of life
than is physical condition or tobacco use. These studies suggest that dissatisfaction is not
solely a psychological phenomenon. The stresses that result from dissatisfaction
apparently increase one susceptibility to heart attack and the like.

27
 LITERATURE REVIEW

Models of Employees satisfaction

Affect Theory

Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous Job
satisfaction model. The main premise of this theory is that satisfaction is determined by a
discrepancy between what one wants in a job and what one has in a job. Further, the
theory states that how much one values a given facet of work (e.g. the degree of
autonomy in a position) moderates how satisfied/dissatisfied one becomes when
expectations are/aren’t met. When a person values a particular facet of a job, his
satisfaction is more greatly impacted both positively (when expectations are met) and
negatively (when expectations are not met), compared to one who doesn’t value that
facet. To illustrate, if Employee A values autonomy in the workplace and Employee B is
indifferent about autonomy, then Employee A would be more satisfied in a position that
offers a high degree of autonomy and less satisfied in a position with little or no
autonomy compared to Employee B. This theory also states that too much of a particular
facet will produce stronger feelings of dissatisfaction the more a worker values that facet.

Dispositional Theory

Another well-known Job satisfaction theory is the Dispositional Theory It is a very

general theory that suggests that people have innate dispositions that cause them to have
tendencies toward a certain level of satisfaction, regardless of one’s job. This approach
became a notable explanation of Job satisfaction in light of evidence that Job satisfaction
tends to be stable over time and across careers and jobs. Research also indicates that
identical twins have similar levels of Employees satisfaction.

A significant model that narrowed the scope of the Dispositional Theory was the Core
Self-evaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there
are four Core Self-evaluations that determine one’s disposition towards Employees

28
satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This
model states that higher levels of self-esteem (the value one places on his/her self) and
general self-efficacy (the belief in one’s own competence) lead to higher work
satisfaction. Having an internal locus of control (believing one has control over her\his
own life, as opposed to outside forces having control) leads to higher Employees
satisfaction. Finally, lower levels of neuroticism lead to higher Employees satisfaction

Two-Factor Theory (Motivator-Hygiene Theory)

Frederick Herzberg’s Two factor theory (also known as Motivator Hygiene Theory)
attempts to explain satisfaction and motivation in the workplace [5] This theory states that
satisfaction and dissatisfaction are driven by different factors – motivation and hygiene
factors, respectively. An employee’s motivation to work is continually related to Job
satisfaction of a subordinate. Motivation can be seen as an inner force that drives
individuals to attain personal and organization goals (Hoskinson, Porter, & Wrench,
p.133). Motivating factors are those aspects of the job that make people want to perform,
and provide people with satisfaction, for example achievement in work, recognition,
promotion opportunities. These motivating factors are considered to be intrinsic to the
job, or the work carried out.[5] Hygiene factors include aspects of the working
environment such as pay, company policies, supervisory practices, and other working
conditions

While Hertzberg's model has stimulated much research, researchers have been unable to
reliably empirically prove the model, with Hackman & Oldham suggesting that
Hertzberg's original formulation of the model may have been a methodological artifact. [5]
Furthermore, the theory does not consider individual differences, conversely predicting
all employees will react in an identical manner to changes in motivating/hygiene factors.
[5]
Finally, the model has been criticised in that it does not specify how
motivating/hygiene factors are to be measured.

29
Job Characteristics Model

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

Communication Overload and Communication Under load

One of the most important aspects of an individual’s work in a modern organization

concerns the management of communication demands that he or she encounters on the
job (Krayer, K. J., & Westbrook, L., p. 85). Demands can be characterized as a
communication load, which refers to “the rate and complexity of communication inputs
an individual must process in a particular time frame (Faraca, Monge, & Russel, 1977).”
Individuals in an organization can experience communication over-load and
communication under- load which can affect their level of Employees satisfaction.
Communication overload can occur when “an individual receives too many messages in a
short period of time which can result in unprocessed information or when an individual
faces more complex messages that are more difficult to process (Farace, Monge, &
Russel, 1997).” Due to this process, “given an individual’s style of work and motivation
to complete a task, when more inputs exist than outputs, the individual perceives a
condition of overload (Krayer, K. J., & Westbrook, L., p. 86) which can be positively or
negatively related to Employees satisfaction. In comparison, communication under load
can occur when messages or inputs are sent below the individual’s ability to process them
(Farace, Monge, & Russel, 1997).” According to the ideas of communication over-load

30
and under-load, if an individual does not receive enough input on the job or is
unsuccessful in processing these inputs, the individual is more likely to become
dissatisfied, aggravated, and unhappy with their work which leads to a low level of
Employees satisfaction.

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

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

Definitions

Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of one’s job;[1] an affective reaction to one’s job; and an attitude towards one’s
job.[3] Weiss (2002) has argued that Job satisfaction is an attitude but points out that
researchers should clearly distinguish the objects of cognitive evaluation which are affect
(emotion), beliefs and behaviours. This definition suggests that we form attitudes towards
our jobs by taking into account our feelings, our beliefs, and our behaviors.

History:

One of the biggest preludes to the study of Job satisfaction was the Hawthorne studies.
These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business
School, sought to find the effects of various conditions (most notably illumination) on

31
workers’ productivity. These studies ultimately showed that novel changes in work
conditions temporarily increase productivity (called the Hawthorne Effect). It was later
found that this increase resulted, not from the new conditions, but from the knowledge of
being observed. This finding provided strong evidence that people work for purposes
other than pay, which paved the way for researchers to investigate other factors in
Employees satisfaction.

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

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

32
 COMPANY PROFILE

Pantaloon Retail (India) Limited, is India’s leading retailer that

operates multiple retail formats in both the value and lifestyle segment of the
Indian consumer market. Headquartered in Mumbai (Bombay), the company
operates over 12 million square feet of retail, has over 1000 stores across 71
cities in India and employs over 30,000 people.

The company’s leading formats include pantaloons, a chain of

fashion outlets, Big Bazaar, a uniquely Indian hypermarket chain, Food
Bazaar , a supermarket chain, blends the look, touch and feel of Indian
bazaars with aspects of modern retail choice, convenience and quality and
central, a chain of seamless destination malls. Some of its formats include
brand factory, blue sky, all top 10 stars and sitara. The company also
operates an online portal, futurebazaar.com
A subsidiary company, Home solutions Retail (India)limited,
operate Home Town, a large – format home solutions store, collection I ,
selling home furniture products and ezone focused on catering to the
consumer electronics segment.
Pantaloon Retail was recently awarded the international retailer of
the year 2009 by the US – based National Retail Federation (NRF) and the
Emerging market retailer of the year 2009 at the world retail congress held
in Barcelona.
Pantaloon Retail is the flagship company of Future Group, a business
group Catering to the entire Indian consumption space

33
 THE FUTURE GROUP
FutureBazaar.com is owned and operated by Future Bazaar India Ltd.
(FBIL). FBIL is a part of the Future Group, India’s largest retail
conglomerate. FBIL is the e-commerce arm of the Future Group. The
company was incorporated in 2008 and began business in 2009.

As part of India’s largest retail chain, we enjoy the benefits of buying in bulk
for the entire group. Our aim is to get you a great range of products at great
prices.

Core Competency of the business…what makes us different from

others.!!

 A choice of more than 20,000 products

 Delivery across more than 1500 cities and towns in India covering
around 16,000 pin codes
 Fast deliveries – tie ups with world leaders in logistics &
transportation services
 A dedicated Customer Care helpline for any queries
 Always offering Manufacturer’s guarantee as opposed to Seller’s
guarantee, which most of the other online shopping sites offer

 Aggressive Prices –FutureBazaar.com has the benefit of leveraging

the sourcing network of the Future Group’s retail chains. This sourcing
network straddles a wide range of product requirements, thus being able to
offer us economies of scale thereby - unbelievable prices to it’s customers
 Unmatched Selection of Products and Brands – We have more than
20,000 products which create the flexibility to offer a large range of choices

34
 to customers. We also have partnerships with most of the brands available in
the country, which allows us to get the latest in the range to our customers.
We have been able to create some major popularity ripples with our
corporate clients with products like mobiles, electronics, laptops, MP3
players, T-shirts, Gift Vouchers and so on.
 Seamless end-to-end Logistics Solution – We pride ourselves in
having built an end-to-end logistics solution; right from stocking,
dispatching, and delivery confirmation up to post-sales support. Our back-
end infrastructure enables us to service around 15000 pin codes across India.
 Dedicated Customer Care for online customers as well as
corporate clients - We have a dedicated team straddling client servicing,
sourcing, logistics and customer service for all our customers.
 "Our Brand Association" - Most importantly out parentage &
association with humungous retail brands like Big Bazaar, Pantaloons,
Central and many more, lends tremendous amount of trust & credibility to
our end consumers.

35
Strategy

A new normal is being defined in the Indian consumer market every day.

With far-reaching socio-economic changes that India has undergone in the

last decade, the drivers in urban and rural India are maturing fast.

With a growth strategy tempered with localization and an inclusive business

model, Future Group is the only pure play local retailer poised to lead

India’s consumption story with sustainable value creation.

Our multi-format retail strategy captures almost the entire consumption

basket of Indian customers. As modern retail drives new demand, efficiency

and consumption in new categories, our strategy is based on our deep

understanding of Indian consumers. We understand the varied buying

behaviour of the Indian consumer across regional ethnicities and are

constantly innovating to craft strategies that address the subtle differences.

We believe that modern Indian retail rests on the strength of two pillars –

scale and efficiencies. As front-runners in both areas, we firmly believe our

core responsibility lies in providing protection to customers from the overall

rate of inflation. While the scale and size of our operations helps us improve

efficiencies, it also ensures we deliver greater value to our customers.

36
Our retail thrust is focused on four principal verticals of Food, Fashion,

General Merchandise and Home. These four categories together account for

nearly 65% of

the consumption in the country and represent mass consumer aspirations.

Acknowledging this, we are creating retail pure play through divestment and

demerger of non-retail businesses to concentrate our efforts on these

verticals.

India’s retail boom is being driven by resurgence in the economy. Modern

retail still has around 6% share of the total retail spend in the country, that is

estimated at around US $ 400 billion. Thus, the potential for modern retail

growth in India is huge. Currently, leading retailers in mature markets

occupy the top three slots by turnover, employment and value creation. As

the Indian economy matures, it is upon us to make the same happen in our

country.

37
ICICI Bank. He has held the positions of Managing Director and CEO of

ICICI Prudential Life Insurance Co, Chairman of ICICI Home Finance

Company, and served on the boards of ICICI Lombard General Insurance

and CIBIL. He worked with Citibank India from 1990 to 2000.

“Nobody Sells Cheaper and Better”

“Is se sasta aur achha kahi nahi”

Big Bazaar is a chain of department stores in India currently with 100

outlets. It is owned by Future Retail India Ltd, Future Group. It works on the

same economy model as Wal-Mart and has been successful in many Indian

cities and small towns.

The idea was pioneered by entrepreneur Mr. Kishore Biyani, the CEO of

Future Group.

Currently Big Bazaar stores are located only in India. It is the fastest

growing chain of department stores and aims at having 350 stores by 2010.

Big Bazaar has democratized shopping in India and is so much more than a

hypermarket. Here you will find over 170,000 products under one roof that

38
cater to every need of a family, making Big Bazaar India’s favourite

shopping destination. At Big Bazaar, you will get the best products at the

best prices—this is our guarantee. From apparel to general merchandise like

plastics, home furnishings, utensils, crockery, cutlery, sports goods, car

accessories, books and music, computer accessories and many more. Big

Bazaar is the destination where you get products available at prices lower

than the MRP, setting a new level of standard in price, convenience and

quality.

RETAIL

Winning the Hearts of Indian Consumers

Future Group was conceived as a force to drive domestic consumption and

capture every addressable need of Indian consumers.

Future Group makes every effort to delight its customers, tailoring store

formats to changing Indian lifestyles and adapting products and services to

their desires.

We operate some of India’s most popular retail formats. Across value and

lifestyle segments, our multi-format retail strategy caters to the complete

consumption needs of a wide cross-section of Indian consumers.

1.Lifestyle: Style for Every Occasion

2.Value: Helping India

39
3.Home: Building Dreams in a New India

4.Digital: Connecting the Youth of India

A modern retail drives fresh demand and consumption in new categories, our

strategy is based on a deep understanding of Indian consumers, the products

they want, and making these products available in every city, in every store

format. Future Group offers innovative offerings at affordable prices tailored

to the needs of every Indian household.

Pioneers in the India’s retail space, our formats are household names in more

than 85 cities and 60 rural locations across the country.

Our stores cover around 15 million square feet of retail space and attract

around 220 million customers each year .

Pantaloon Retail (India) Limited focuses on the lifestyle retail segment led

by the Pantaloons and Central formats.

Future Value Retail focuses on the value retail segment through the Big

Bazaar, Food Bazaar and KB’s Fair price formats.

40
Finance

Empowering People to Pursue Their Dreams

Created on the foundation of our belief to help the Indian dream fly high, our

finance business aims to empower people to pursue their dreams. Our

finance solutions, an important component of our business portfolio, aim to

help enterprises transform and differentiate their offerings.

Future Group has broadened its finance services portfolio to strengthen its

position in the highly competitive consumer market through user-friendly

and dynamic services based on Indian consumer needs. Our group

companies provide consumer finance and insurance to customers besides

offering corporate loans and equity investments to companies engaged in

consumer businesses.

The key aspect of our business model is to provide a unique personalized

customer experience to expand and capture a greater share in the highly

competitive finance market and help people realize the Indian dream.

Future Capital Holdings

Future Group’s financial arm - Future Capital Holdings Limited (FCH) is a

provider of financial services across consumer and wholesale businesses,

with aspirations to grow into a significant financial conglomerate.

41
Conceptualized around a unique positioning of a financial services business,

integrated with a retail chain, Future Capital is establishing financial

superstores within the Retail stores of Future Group such as Big Bazaar, E-

zone and Home Town to create India’s first ‘consumer-centric’ retailer of

financial products and services.

Logistics and Supply Chain

In a highly competitive retail marketplace with changing consumer

preferences, different formats and large geographical spread, retail logistics

is a critical business activity.

At Future Group we believe the viability of a retail operation hinges as much

on achieving efficient logistics and supply chain as it does on attaining

success at the front end.

A seamless logistics function to move our products from the manufacturer to

our store shelves is at the heart of our retail operations. Our robust presence

in logistics and supply chain helps us move millions of products to

customers each day of the year across India in the most efficient and cost-

effective manner.

42
Future Supply Chains
Future Supply Chain Solutions Limited (FSCS), a specialized subsidiary,

offers a strategic, focused and consolidated approach to meet the group’s

large supply chain requirements as well as those of select suppliers and

business partners.

Future Supply Chain Solutions provides integrated end-to-end supply chain

management, warehousing and distribution, multi-modal transportation and

container freight stations.

Operates 5 major verticals: Warehousing, Transportation, International

Logistics, Brand Distribution and Reverse Logistics

Current warehouse footprint of over 3.5 million square feet with 67

warehouses across 32 locations.

Dedicated fleet of over 400 vehicles and an outsourced fleet of 400 trucks

that move goods across India in the most efficient and cost-effective manner

Li & Fung, the Hong Kong-based largest retail supply chain company, is an

investor and partner of Future Supply Chain.

43
FUTURE THOUGHT

Retail leadership in India through innovation and transformation

Future Group offers new ways of thinking about retail and consumerism in

India. We believe Retail must take the lead in renewing our economic

growth trajectory. Leveraging the experience and insights gained in

pioneering retail in India, we have developed a deeper understanding of the

evolution of modern Indian retail and its role in driving sustainable

economic growth.

At Future Group, we believe in channelizing our energies to research-based

innovation for generating value and delivering better experiences to

customers. We are focused on achieving sustainable business performance

through the synergy of customers, communities and partners by ongoing

learning, unlearning and adaptation.

Our thinking delivers business value in 3 ways:

1.Knowing India the Indian way---

Embracing Indianness to conduct business across various socio-economic

and demographic segments

Integrating the traditional approach into modern-day retail to identify critical

customer-value levers and game-changing trends in Indian retail

Learn more about Modern Retail – The Indian Way

44
2.Driving Inclusive Growth----

Thriving in an ecosystem that facilitates collaboration and inclusive growth

as a sustainable economic growth model for India

Creating fresh employment, impacting livelihoods, empowering local

communities and fostering mutual growth

Learn how we’re becoming more responsible at Future Group

3.Accelerating Innovation----

Driving innovation with solutions that reconcile the interests of our business,

the environment and other stakeholders

Leveraging powerful research as a co-creation engine to harness

consumption opportunities created by emerging urbanization and lifestyle

trends

OUR OBJECTIVES

 Empower our employees by providing a challenging, dynamic and

diverse work environment that supports professional development.

 Deliver tangible economic benefits to our partners, including our

suppliers and distributors and address relevant issues pertaining to the

health, safety and welfare of those working in our supply chain.

 Engage with local communities to improve social mobility and create

increased self-employment opportunities.

45
  We aim to serve as a catalyst, employing inclusiveness as a powerful

development tool. Future Group aims to create and sustain an

environment conducive to India’s growth by playing a proactive role

in India’s development process.

SUSTAINABILITY

At the Heart of Future Group's ethos.

At Future Group, corporate social responsibility, inclusive growth and

sustainability are at the core of our strategy and business practices. This

reflects in our commitment to the community, environment and to every

stakeholder in building a stronger foundation for our long-term, sustainable

growth.

We believe modern organized retail has the power to strengthen the

economy, create grass root employment and contribute significantly to social

inclusion. As India’s premier retail player and one of India’s leading home-

grown business houses, Future Group is present across the consumption

value chain. Through millions of customers and thousands of suppliers, we

are conscious of the economic, social and environmental impact of our

activities.

46
We believe the challenges of inequity in our robust and growing domestic

economy need to be tackled through sustainable development. Consequently,

our principles are focussed on two main areas: integrating sustainable

development into business activities and promoting sustained economic

development for the country.

Future groups target long term sustainability in its businesses through

three aspects::

1. Inclusive Growth

2. Community - Driven Development

3. Environmental Responsibilities

INCLUSIVE GROWTH
Building a new India

Future Group’s vision of inclusive growth for a harmonious society, points

to a future in which the entire population can enjoy a better quality of life.

We aim to serve as a catalyst that stimulates the use of inclusiveness as a

powerful development tool. Future Group aims to create and sustain an

environment conducive to the domestic growth of India by partnering with

various stakeholders and playing a proactive role in India’s development

process.

47
Future Group believes in broad-based growth, the fruits of which are not

concentrated in the hands of few but shared by the community as a whole.

This is the way towards achieving the dual goal of profitable and socially

responsible growth. Our initiatives in inclusive development include

livelihood issues, diversity management, skill development and protecting

the environment, to name a few.

Modern Indian retail can help improve incomes and provide opportunities

for growth to individuals with lower education levels or from the

unorganized sector. With fair wages and benefits, opportunities for further

development and growth and a better working environment, modern retail

offers much more than most alternatives available to such individuals.

Future Group focuses on three key enablers for inclusive growth:

employability, innovation and entrepreneurship. While employability helps

create a qualified and skilled workforce, innovation and entrepreneurship

help drive growth and generate employment.

COMMUNITY DRIVEN DEVELOPMENT

Improving social mobility

48
Through community-driven development, we aim to foster a symbiotic

relationship with Indian entrepreneurs across communities to create

increased self-employment opportunities.

The grassroots nature of community-driven development promotes people

participation in development decisions that are usually decided in a top-

down manner. Economically disadvantaged women and ethnic minorities are

among those who stand to gain the most through our community-driven

development initiatives. Our approach is to help and collaborate with

different communities in the rural pockets of our country to achieve

harmonious growth.

Recognizing the potential to address economic inequality/disparity and

accomplish other objectives contributing to inclusive growth, Future Group

has spread its reach deep into rural India. Our people engage to undertake

community mobilization and capacity building, and help develop measures

to reach isolated, ethnically diverse, or remote communities.

Our engagements provide us with practical knowledge about designing and

building upon community-driven operations and provide them with an

enabling and inclusive framework.

49
ENVIRONMEN

Encouraging Environmental Stewardship

Climate change is one of the greatest challenges facing the world today.

Future Group strives to reduce environmental impact and optimize energy

consumption in its stores and strengthen green considerations in logistics

operations. Our endeavor is to promote eco-friendly products and raise

awareness on environmental issues both internally and externally.

As part of our sustainable-development initiatives, we have made a

commitment to care for the environment. Through our commitment, we look

to make a significant positive impact on the ecology and surroundings in

which we operate.

Through investment and innovation we are leading the way in providing a

greener way to do business. We fulfill our responsibility for delivering high

quality services in a sustainable and environmentally responsible manner by:

Reducing the environmental impact of store construction and operations

Improving energy

50
Employment Philosophy

“Start Here. Dream Big. Grow Far”

We're growing in dynamic ways and are looking for people who will enable

us to continue our success. We are looking for people who are passionate,

adaptable, self-motivated, team players and who reflect our ideology -

"Rewrite rules. Retain values".

If you share our passion for success, we invite you to be a part of an amazing

success story by taking up exciting growth opportunities with us.

Future Group is an equal-opportunity employer. We encourage people to join

us from all walks of life. To this end, we have implemented numerous

training programs that provide our employees avenues for advancement. Our

unflagging efforts have ensured that over 80 percent of our people have been

positively impacted. This has helped us identify and nurture Future leaders

and bringing fresh energy and perspective to the business.

In potential employees, we value

> Creativity And Confidence

> Personal Desire For Knwledge And Skill Building

> Ability To Work Effectively In Teams

> Firmness In Handling Pressure Situations

51
> Passion To Inovate

> Strong Commitment To Nation Building

Future Group looks to employee expertise to combine and sustain business

and community growth. We are fully committed to India’s socio-economic

development and seek the same values in those looking to be part of the

Future Group family.

The basic hierarchical level at big bazaar is as follows:

The job responsibilities of these people are as follows:

52
Team member

 Sales
 Display Management
 Reducing product Shrinkage
 Customer grievances etc.

Team Leaders

 Work allotment
 Tackle problems related with work assigned
 Customer grievances

Store Manager

He can be said as a person whose presence matters.

 Overall Coordinator
 Ensuring smooth functioning of the store

ATTRITION ANALYSIS

In the ideal world, employees would love their jobs, like their coworkers,

work hard for their employers, get paid well for their work, have ample

53
chances for advancement, and flexible schedules so they could attend to

personal or family needs when necessary and never leave. But then there's

the real world. And in the real world, employees do leave, either because

they want more money, hate the working conditions, hate their coworkers,

want a change, or because their spouse gets a dream job in another state,

thus adding to their company attrition rate.

While an employee’s leaving the job is considered attrition by one

organization, it is looked at as talent acquisition by the new organization and

to the individual it means a career move, economic growth and enhanced

quality of life/convenience or closeness to family etc. Hence, what is a

problem for one may be an opportunity for another.

In simple words, Attrition can be defined as "A reduction in the number of

employees through retirement, resignation or death. The attrition rate is

"the rate of shrinkage in size or number". In terms of numbers, attrition

rate means:

Total Number of Resigns per month (Whether voluntary or forced) divided

by (Total Number of employees at the beginning of the month plus total

number of new joinees minus total number of resignations) multiplied by

100.

54
55
 OBJECTIVES OF STUDY

1. The primary objective of the research is the Job satisfaction level of Big Bazaar

2. To suggest ways to increase the level of Job satisfaction level can also be

increases.

3. To test the feedback of the Job satisfaction level.

4. Which type of feedback does the service class provide?

5. To note the total problem occurring in the service class. What is the major

problem that comes in their job.

6. The primary objective of the research is to compare the Job satisfaction level of
the Big Bazaar .
7. To suggest ways to increase the level of Job satisfaction level can also be
increases.
8. To test the feedback of the Job satisfaction level.
9. Which type of feedback is provided by the service class?
10. To note the total problem occurring in the service class. What is the major
problem that comes in their jobs.

56
 RESEARCH METHODOLOGY

RESEARCH METHODOLOGY is a way to systemically solve the research problem. It

may be understood as a science of studying how research is done. and it to study the
various steps that are generally adopted by a researcher in studying his research problem
it is necessary for the researcher to design the methodology form the problem as a
method differ from problem- problem.

Research design
Research design is a conceptual structure with the help of which research is
conducted. There is no unique method which can entirely eliminate the elements of
undertaking both research methodologies more than any other procedures can minimize
the degree of uncertainty. Thus it reduces the probability of making a wrong choice
amongst the alternative course of action. in this research descriptive research design is
being used. a descriptive research study is concerned with describing the characteristics
of the particular field of group. The study is done for specific purpose with the help of
facts collected but car should be taken the information should be free from bias and
should be reliable. The design includes the following steps:-
1-objective formulation
2-data collection
3-sample selection
4-sample size determination
5-analying the information
6-result
7-limitation

RESEARCH PROCESS

Before embarking on the detail of research methodology and the techniques it seems
appropriate to present the brief overview of the research process. Research process
consists of series of action or steps necessary to effectively carried out the research and

57
the desired sequencing of these steps one should remember that the desired sequencing of
these steps. One should remember that various steps involve in a research process are not
mutually exclusive nor they are separate and distinct they do not necessarily follow each
other. any specific order and researcher have to be constantly anticipating at each steps in
the research process however the following order concerning various steps provide a
useful procedural guideline regarding the research process.

DEFINING THE PROBLEM :

The objective of the project was to undertake a study on the training and development of
the employee working in the Big Bazaar with a view to know the improvement in the
performance after the training programme was imparted to them.

RESEARCH DESIGN

Research design is a conceptual structure within which research is conducted; it is

basically the blue print for a collection of data, measurement and analysis of data. “A
research design is the arrangement of conditions for collection and analysis of data in
manner that aims to combine relevance to research purpose with economy in procedure”.

RESEARCH DESIGN : EXPLORATORY

SAMPLE SIZE :- 25
AREA OF WORK : Lucknow
Data collection:-
The data collection from two sources:

Primary data:-
It was collected through the survey of job satisfaction of employees in scooter India Ltd.
SECONDARY DATA:-
It was collected from internet, various books, newspapers and company literature.

58
Sample instruments:-
All the primary data was collected using structured interview method. For this purpose
the tools used was questionnaires in which the respondents were asked to rate their
experience about the various aspects of job on liker scale ranging from high jobs
satisfaction to low Employees satisfaction.

Analyzing the information:-

To analyze the information collected used were very basic and easy to comprehend. The
measure of control tendencies and graphical method were used for analyzing the data.
Results:
The results are given in the forthcoming pages in from of finding and analysis and
recommendations there after.

59
 DATA ANALYSIS AND INTERPRETATION

Q.1 . GENERAL WORKING CONDITIONS

a) Work hour each week

1. Highly Satisfied 40%

2. Satisfied 25%

3. Any Thing 15%

4. Dis-Satisfied 20%

5. Total 100%

INTERPRETATIONS
40% employees of max are highly satisfied with the working hour of
each week. 25% are satisfied , 15% are unable to say any thing, 20%
are dis-satisfied and others are highly dis-satisfied.

b) Flexibility in scheduling

60
 1. Highly Satisfied 35%

2. Satisfied 30%

3. Any Thing 15%

4. High Dis-Satisfied 20%

5. Total 100%

INTERPRETATIONS

35% employees of max are highly satisfied with the Flexibility in

scheduling, 30% are satisfied , 15% are unable to say any thing, 20% are dis-
satisfied and others are highly dis-satisfied.

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c) No of paid leaves

1. Highly Satisfied 25%

2. Satisfied 5%

3. Any Thing 25%

4. Dis-Satisfied 45%

5. Total 100%

Employees of max are not highly satisfied with the No of paid leaves , 25%
are satisfied , 5% are unable to say any thing, 25% are dis-satisfied and 45%
are highly dis-satisfied.

d) Dispute settlement process.

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 1. Highly Satisfied 36%

2. Satisfied 32%

3. Any Thing 12%

4. Dis-Satisfied 20%

5. Total 100%

36% employees of max are highly satisfied with the Dispute

settlement process , 32% are satisfied , 12% are unable to say any
thing, 20% are dis-satisfied and others are highly dis-satisfied.

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Q.2 PAY AND PROMOTION POTENTIAL

a) Salary

1. Highly Satisfied 30%

2. Satisfied 40%

3. Any Thing 19%

4. Dis-Satisfied 11%

5. Total 100%

30% employees of max are highly satisfied with the salary, 40% are
satisfied , 19% are unable to say any thing, 11% are dis-satisfied and others
are highly dis-satisfied.

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b) Opportunities for Promotion

1. Highly Satisfied 49%

2. Satisfied 31%

3. Dis-Satisfied 20%

4. Total 100%

49% employees of max are highly satisfied with the Opportunities for
Promotion 31% are satisfied , 20% are dis-satisfied and others are highly
dis-satisfied.

65
c) Benefits (Health insurance, life insurance, etc.)

1. Highly Satisfied 58%

2. Satisfied 28%

3. Dis-Satisfied 14%

4. Total 100%

58% employees of max are highly satisfied with the Benefits (Health
insurance, life insurance, etc.), 28% are satisfied , 14% are dis-satisfied.

66
d) Job Security

1. Highly Satisfied 40%

2. Satisfied 20%

3. Any Thing 10%

4. Dis-Satisfied 30%

5. Total 100%

40% employees of max are highly satisfied with the job security, 20% are
satisfied , 10% are unable to say any thing, 30% are dis-satisfied and others
are highly dis-satisfied.

67
e) Recognition for work accomplished

1. Highly Satisfied 40%

2. Satisfied 26%

3. Any Thing 16%

4. Dis-Satisfied 18%

5. Total 100%

40% employees of max are highly satisfied with the Recognition for work
accomplished , 26% are satisfied , 16% are unable to say any thing, 18% are
dis-satisfied and others are highly dis-satisfied.

68
Q.3 WORK RELATIONSHIPS

a) Relationships with your co-workers

1. Highly Satisfied 56%

2. Satisfied 24%

4. Dis-Satisfied 20%

5. Total 100%

56% employees of max are highly satisfied with the Relationships with
your co-workers , 24% are satisfied , 20% are dis-satisfied.

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b) Relationship(s) with your supervisor(s)

1. Highly Satisfied 30%

2. Satisfied 41%

3. Any Thing 11%

4. Dis-Satisfied 18%

5. Total 100%

30% employees of max are highly satisfied with the relationship(s) with
your supervisor(s) , 41% are satisfied , 11% are unable to say any thing, 18%
are dis-satisfied and others are highly dis-satisfied.

70
c) Relationships with your subordinates (if applicable)

1. Highly Satisfied 32%

2. Satisfied 52%

3. Any Thing 8%

4. Dis-Satisfied 8%

5. Total 100%

32% employees of max are highly satisfied with the Relationships with your
subordinates (if applicable), 52% are satisfied , 8% are unable to say any
thing, 8% are dis-satisfied and others are highly dis-satisfied.

71
Q. 4 USE OF SKILLS AND ABILITIES

a) Opportunity to utilize your skills and talents

1. Highly Satisfied 40%

2. Satisfied 20%

3. Any Thing 10

4. Dis-Satisfied 30%

5. Total 100%

22% employees of max are highly satisfied with the Opportunity for
utilizing skills and talents 38% are satisfied , 11% are unable to say any
thing, 29% are dis-satisfied and others are highly dis-satisfied.

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 b) Opportunity to learn new skills

1. Highly Satisfied 30%

2. Satisfied 47%

4. Dis-Satisfied 23%

5. Total 100%

30% employees of max are highly satisfied with the Opportunity to learn
new skills , 47% are satisfied ,23% are dis-satisfied and others are highly
dis-satisfied.

c) Support for additional training and education.

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 1. Highly Satisfied 24%

2. Satisfied 36%

3. Any Thing 20%

4. Dis-Satisfied 20%

5. Total 100%

24% employees of max are highly satisfied with the Support for additional
training and education , 36% are satisfied , 20% are unable to say any thing,
20% are dis-satisfied and others are highly dis-satisfied.

Q. 5. WORK ACTIVITIES

a) Variety of job responsibilities

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 1. Highly Satisfied 25%

2. Satisfied 26%

4. Dis-Satisfied 49%

5. Total 100%

Employees of max are not highly satisfied with the Variety of job
responsibilities , 25% are satisfied, 26% are unable to say anything, 49% are
dis-satisfied and others are highly dis-satisfied.

c) Degree of independence associated with your work roles

1. Highly Satisfied 26%

2. Satisfied 48%

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 3. Any Thing 6%

4. Dis-Satisfied 20%

5. Total 100%

26% employees of max are highly satisfied with the Degree of

independence associated with your work roles. 48% are satisfied , 6% are
unable to say any thing, 20% are dis-satisfied and others are highly dis-
satisfied.

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c) Adequate opportunity for periodic changes in duties

1. Highly Satisfied 21%

2. Satisfied 39%

3. Any Thing 10%

4. Dis-Satisfied 30%

5. Total 100%

21% employees of max are highly satisfied with the Adequate opportunity
for periodic changes in duties, 39% are satisfied , 10% are unable to say any
thing, 30% are dis-satisfied and others are highly dis-satisfied.

77
6) Are you satisfied with the company’s appraisal system?

1. Yes 60%

2. No 40%

3. Total 100%

70%

60%

50%

40%

30%

20%

10%

0%
Yes No

60% employees of Max are satisfied with the company’s appraisal system
but 40% are not satisfied.

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7) Do you think of switching over in some other companies?

1. Yes 65%

2. No 35%

3. Total 100%

70%

60%

50%

40%

30%

20%

10%

0%
Yes No

65% employees are not thinking for switching over in some other
companies but 35% are thinking so.

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8) How do you view this job?

1. Challenge 38%

2. Responsibility 42%

3. Motivating 15%

4. Secured 5%

3. total 100%

Challenging

5%
Responsible
15%
38%

Motivating
42%

Secured

38% employees take there job as a challenge, 42% take as a

responsibility, 15% as a motivating factor and 5% as a secured.

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 FINDINGS
 According to diagram estimated recruitment timing / process in Big Bazaar is

less than one month as shown in figure 60 %

 According to figure 50% we cannot say that Competency based interview

questions are being adapted at Big Bazaar. in comparison to traditional method.

 According to figure , not 60% technical and behavioral factors are taken into

consideration at the time of recruitment.

 According to 80% employees do not know who will be present in the interview

panel and for what duration.

 According to 70% head hunting is mostly adopted by Yamaha for recruitment

process.
 According to 50% both Post and Electronically recruitment information received

by applicant.
 According to 60% after 1 to 2 days of request the pack has being received.
 According to 40% yes there is professional equity in recruitment and selection

policies in Big Bazaar.

 According to 50% present recruitment hiring ratio is 10 on 20.
 According to 60% average joining ratio is more than 75%.

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 CONCLUSION

Employee’s of the Big Bazaaris highly satisfied with their job. It is evident from the

interpretation of data that there are 25% of respondent highly satisfied with their job as

14% of Employees turnover. More over there are 12% and 38 of Employees turnover

who have an overall neutral attitude towards their job & Service class undertakings

respectively. The percentage of dissatisfy Employees turnover is 7% which is much lower

than 10% of Service class.

Job satisfaction were found to be highly satisfied with aspects such as communication

and information flow manner in which their efforts are valued, job itself, carrier

opportunities, methodology by which change or innovation is implemented, scope the job

offers to realize the aspirations and ambitions, skills, utilizations, organization climate

and level of salary with respect to experience. They are highly satisfied with level of job

security, communication an information flow.

It was found that the Employees turnover were particularly dissatisfied with the level of

salary. In consonance with the Maslow’s hierarchy of needs theory the monetary

remunerations is required for full filling the first two lower level needs, which is not up to

the mark and fails to satisfy the employees. Now unless the lower level needs will be full

fill there are remote chances that the Employees turnover can full fill or even sense the

need for existence of any high level needs.

In accordance with the Herzberg dual structure model of Job satisfaction the motivators

such as salary, supervision, Institution policy and administration, technical supervision,

82
working condition should be improved to increase the among the Faculty members. And

factors like advancement that is the hygiene factors.

Suggested by Herzberg is also an important determinant in Job satisfaction and should be

improved so that the Employees turnover are not dissatisfied with their jobs.

All the group of employees in Service class have become less satisfied at work the past

decade

The Employees of Service class were neutral to wards a large number determinants of

Job satisfaction including the job it self, the degree of motivation and the like. On the

other hand there was high degree of motivation in the Employees turnover of Faculty

members. Therefore proper attention should be given to motivate the Employees turnover

of Service class towards their job.

83
 RECOMMENDATIONS AND SUGGESIONS

The following recommendations on the basis of the data collected can be made the
concerned authorities of Big Bazaar :

1. They should first decide, depending upon their abilities, which job they want
to do and should only take careers, which is interesting to them
2. The job should be chosen according to the aptitude to the employees. This will
lead to greater level of learning, achievement and ultimately motivation in the
Employees turnover to the excel.
3. The Employees should make sure that they do not let their personal tension
affect their work. They should keep their personal relationships harmonious.
4. Physical health affect the level of Employees satisfaction. Proper care should
be taken by Employees turnover in this respect.
5. Employees should put in their best in their jobs so that their is no fear of
loosing their jobs.
Over all the researches found that Job satisfaction was U shaped in age , with initial
continent at work during teenage years disappearing by the age of 25. Job satisfaction
was lowest when people work in their 20s and 30s the period when people struggle to
balance work with their family commitments and highest among staff in their 50s and
60s.

84
 IMITATIONS

It is not possible to remove the limitation of any investigators. So this project also has
certain limitation that is:

1) Information was gathered through the rating of the subject, thus biasness is
possible.
2) As the sample size was very small it is possible that it may not represent the
precise picture.
3) Since the feedback of the employees was done through Questionnaire major
limitation was unavailability of employees thus leading to highly low success
rate.
4) Most of the employees were so furious that they refused to part with any
information
5) Time factor

85
 Bibliography

Books: -

 Hitt, Miller, Colella “Organizational Behavior A Strategic Approach”, Wiley

Student’s Edition.

 Luthans Fred “Organizational Behavior”, McGraw Hill 7th Edition.

 Newstrom John W., Davis Keith, “Organizational Behavior Human Resource At

Work”, 9th Edition, Tata McGraw Hill Edition.

 Pestonjee D. M. “Motivation and Job Satisfaction”, 1 st Edition. Macmillan India

Limited.

Web Sites:-

 www.google.com

 www.wikipedia.com

86
 Appendix

QUESTIONNAIRE

Name:____________________________________ Employee Code:_________

Designation:________________________________ Age:_________

Gender:_____________ Contact Number:_________________________

Email Address:______________________________

How strongly you satisfied for following statements:

Highly Satisfied Neutral Dis-

Highly

Satisfied satisfied
dis-satisfied

1 . GENERAL WORKING CONDITIONS

a) Work hour each week ______________________________

b) Flexibility in scheduling
______________________________

c) No of paid leaves ______________________________

d) Dispute settlement process

______________________________

87
2 PAY AND PROMOTION POTENTIAL

a) Salary
______________________________

b) Opportunities for Promotion

______________________________

c) Benefits (Health insurance, life insurance, etc.) ______________________________

d) Job Security ______________________________

e) Recognition for work accomplished
______________________________

3 WORK RELATIONSHIPS

a) Relationships with your co-workers ______________________________

b) Relationship(s) with your supervisor(s)

______________________________

c) Relationships with your subordinates (if applicable

______________________________

4 USE OF SKILLS AND ABILITIES

a) Opportunity to utilize your skills and talents

______________________________

b) Opportunity to learn new skills ______________________________

c) Support for additional training and education ______________________________

5 WORK ACTIVITIES

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a) Variety of job responsibilities
______________________________

b) Degree of independence associated with your work roles

_________________________

c) Adequate opportunity for periodic changes in duties

________________________

6 Are you satisfied with the company’s appraisal system?

a) Yes b) NO

7 Do you think of switching over in some other companies?

a) Yes b) NO

8 How do you view this job?

a) Challenging b) Responsible

c) Motivating d) Secured

9 Give your view on career management system and growth opportunity in your
organisation.

________________________________________________________________________
________________________________________________________________________
___________

.10 Any further suggestion for increasing job satisfaction that you would like to forward.

________________________________________________________________________
________________________________________________________________________
___________

89