A study on analyzing levels of

EMPLOYEE SATISFACTION
At HALCYON TECHNOLOGIES

PROJECT SUBMITTED IN PARTIAL FULFILLMENT FOR THE AWARD OF DEGREE MASTER OF BUSINESS ADMINISTRATION TO

DECLARATION

I here by declare that this project report titled A study on analyzing levels of Employee Satisfaction at HALCYON TECHNOLOGIES. Submitted by me to the department of Masters of Business Administration, XXXX is a bonafide work undertaken by me and it is not submitted to any other university or Institution for the award of any degree diploma / certificate or published any time before.

ACKNOWLEDGEMENT

The perfect way to document this project would be to start with acknowledging all those people who directly or indirectly encouraged, supported me with their value added inputs without them this project would not have been this better. To start with I would like to thank Mr. XXXX, director Halcyon Technologies for giving me an opportunity as an internee in their esteem organization. My sincere thanks to my faculty Mr. XXX and Mrs. XXXX for helping in me out various aspects of my project and I would like to thank college management for coordinating with me all during this six months of my project. I would like to owe my sincere appreciation to all the Employees of Halcyon Technologies who provided a friendly environment and supported through out my project. Finally I would like to acknowledge Mr. XXXX, HR manager, Halycon Technologies for his value added inputs, support, coordination all through my project.

INDEX

Table of contents:

o Introduction o Need for the study o Objectives of the study o Scope of the study o Company profile o Methodology / approach o Graphical interpretation of the survey o Limitations of the study o Findings o Recommendations

A Project Report on Employee Satisfaction

INTRODUCTION "People don't leave their jobs, they leave their managers."
Although committed and loyal employees are the most influential factor to becoming an employer of choice, it's no surprise that companies and organizations face significant challenges in developing energized and engaged workforces. However, there is plenty of research to show that increased employee commitment and trust in leadership can positively impact the company's bottom line. In fact, the true potential of an organization can only be realized when the productivity level of all individuals and teams are fully aligned, committed and energized to successfully accomplish the goals of the organization. As a result, the goal of every company should be to improve the desire of employees to stay in the relationship they have with the company. When companies understand and manage employee loyalty - rather than retention specifically - they can reap benefits on both sides of the balance sheet i.e., revenues and costs. On the revenue side of the balance sheet, loyal and committed employees are more likely to go "above and beyond" to meet customer needs and are highly motivated to work to the best of their ability. On the cost side, loyal employees stay longer, resist competitive job offers, do not actively look for other employment and recommend the company to others as a good place to work. These four behaviors positively influence the cost side of the balance sheet. In other words, rather than focusing only on retention (that is, trying to retain employees who have already decided to leave), organizations should proactively recognize the benefits of understanding, managing and improving employee satisfaction. The most successful organizations are those that can adapt their organizational behavior to the realities of the current work environment where success is dependent upon innovation, creativity and flexibility. One of the key steps to understanding and improving employee satisfaction is by acknowledging the importance of the following factors in building loyalty and satisfaction:

Broadly-defined responsibilities rather than narrowly-defined job functions Effective and regular performance evaluations, both formally and informally A corporate emphasis on employee learning, development and growth Wide-ranging employee participation in the organization as a whole.

Typically, a combination of factors influences employees' decisions to stay at their current job. Contributing factors include satisfying work, a sense of job security, clear opportunities for

advancement, a compelling corporate mission combined with the ability to contribute to the organization's success, and a feeling that their skills are being effectively used and challenged. Specifically, employees who enjoy their work identify themselves with their employer and perceive that the company is flexible regarding work and family issues also intend to stay with the organization.

In particular, consider the following elements of effective strategies designed to build satisfaction and retain key employees:

Include opportunities for personal growth and invest heavily in the professional development of the best people in the organization. Provide employees with well-defined career paths (including a succession plan), mentors and tuition reimbursement for job-related education. Train employees, even if it makes them more attractive to the competition. Without seeing an opportunity on the horizon, few high potential employees will stay with a company and allow themselves to grow stagnant. Acknowledge non-work priorities by recognizing and responding to employees' needs for greater balance in their lives, since employees will develop loyalty for organizations that respect them as individuals, not just as workers.

Definitions of Employee Satisfaction:

The term Employee Satisfaction was brought to limelight in 1935.the studies conducted prior to 1933 by Hop pock observed that Employee Satisfaction is combination of psychological, physiological and environment circumstances that cause a person to say I am satisfied with my job. Some of the definitions of Employee Satisfaction: 1. Employee satisfaction is defined as a pleasurable or positive emotional state resulting from the appraisal of ones job or job experience. 2. Employee satisfaction is a set of favorable or unfavorable feelings with which employees view their work. 3. Employee Satisfaction will be as the amount of overall positive affect (or feelings) that individuals have towards their jobs.

Need for the Study

Why Measure Employee Satisfaction A company is only as strong and successful as its members, its employees, are. By measuring employee satisfaction in key areas, organizations can gain the information needed to improve employee satisfaction, retention, and productivity. However, a recent study by the Society of Human Resource Management (SHRM) indicated that often the HR department's perceptions of employee satisfaction versus the true measure of employee satisfaction are not always in sync. Employees who arent satisfied with their jobs are very likely to leave. If they dont leave they can become a source of bad morale and do a great deal of harm in the organization. In many cases employers without proper data will assume the wrong reasons for employee dissatisfaction. Many bosses will automatically think that money is the top reason for leaving a job. Wouldnt it be better to have real data and react accordingly? Surveying employees on a regular basis is a great way to stay in touch with the pulse of the business. Before launching a survey though it is important to establish the ground rules. Many employees will be unwilling to express their honest feelings if they think they will be singled out. Make sure that the surveys are conducted with anonymity. Be certain to have the support of company management all the way to the top. Employees want to know that the leadership is behind the survey and that their responses will be taken seriously. Explain that employee comments are important to the company. State what will be done with the results. And then live up to those statements. Employees will become doubtful of managements intentions if they dont follow through.

Objectives of the study

Primary:
Since this has been a startup company entering into second year, it wanted to check out levels of satisfaction before coming up with new policies to take future course of actions. I was given the task to understand the various aspects related to Employees satisfaction in the organization. Halcyon also wanted to make out an external survey in indentifying the benefits other company offers to its Employees and compare those things along with the benefits offered by the company. Organization also wanted to know Employees understanding of companys mission and vision statement. Company also wanted to check Employees satisfaction levels with their team leaders, with the Management and within the team members. Some of the secondary objectives that I identified were: To measure Employees satisfaction on Compensation and Benefits.

To find out the expectations of Employees from Management.

To compare the desired satisfaction with the actual one.

To compare the satisfaction in different levels i.e. female and male Employees, juniors and seniors and within different teams.

Scope of the study

The study covers all levels of Employees and various aspects of Employees like: Identifying Employees attitudes towards various attributes at work place. This study gives us an insight of how Employees see and perceive about Organization. Interpersonal relations,

 Opportunities for career growth, Compensation and benefits, Training and development, Working conditions, Communications, These aspects were taken into consideration to measure Employee Satisfaction at Halcyon Technologies. Dimensions of employee satisfaction survey are 1. The knowledge of the company vision/ mission and strategies of employees?

2. Satisfaction with HR Policies and Procedures. 3. How confident is the employee about the Companys ability to reach its Goal? 4. Compensation and Benefits. 5. Whether the company has made reasonable efforts to allow its Employees to balance their work and family? 6. Work Environments. 7. Opportunities for growth. 8. Whether individuals are respected in this company. 9. About Training Needs.

2. Company Overview
2.1. Introduction:
iLacs Technologies prime role is to assist the client to identify needs, develop an action plan and facilitate change to enhance the success of your organization. Our management, human resource, and training services are designed to improve productivity, efficiency, and communication and employee morale. iLacs Technologies specializes in helping clients quickly within defined turn-around time to costeffectively meet their hiring needs for various levels across all management disciplines & across industries with quality professionals on a permanent as well as contract basis.

2.2. Development:
At iLacs, we offer high quality IT Services on Time & Material basis. We integrate Technology, processes and experience to deliver superior IT Solution that enables the implementation of your business strategies efficiently and cost-effectively. Also our offshore development program allows you to offload either all or a portion of the project development to iLacs's team of experts. The following are the services offered by the company and are as follows. a. Enterprise Application Development b. E-Procurement & Supply Chain Management c. E-Commerce & E-Business Design and Development d. Interactive Web-Site and Animation e. Data Modeling, Mining and Warehousing

f.

Offshore Database Admin Services

g. Offshore Application Maintenance and Support h. Offshore Development Centers (ODC) The iLacs company consists of the business verticals which are most necessary for the continuous growth of the organization the following explains the business verticals and they are as follows a. Financial Services and Brokerage b. Retail and wholesale c. Healthcare d. Corporate Investment and Retail Banking e. Telecommunication and ISPs f. Real Estate g. This Staffing: Short-term projects are order of the day; Organizations are focused more and more on their core activities; honor roll plays an important role in measuring business effectiveness; certain businesses see peaks and troughs in their activities and look for flexibility in their manpower plan to match with the cyclical demand pattern. We enable organizations in all these situations by our permanent staffing solutions. iLacs provides permanent staff across a range of skill-sets across many locations in the country for a variety of industry sectors. We manage the entire HR process right from recruitment and selection, on-boarding, payroll, compliance, offboarding and training till providing you detailed management reports. Our strengths: iLacs Technologies specializes in helping clients quickly within defined turn-around time to cost-effectively meet their hiring needs for various levels across all management disciplines & across industries with quality professionals on a permanent as well as contract basis. Our consultants and associates use in-house proprietary database with customised recruitment technology solutions to pair the deserving candidates with matching client requirements. We make sure that our consultants speak with candidates before sending their short-listed profiles to respective clients. Hence, our clients benefit from dealing with consultants who have detailed knowledge of the profession and the marketplace. Training: We have the capability to deliver effective training through our huge resource pool of trainers and consultants with vast hands on industry experience. After extensive interaction found a big gap in technology transfer between industries and educational institutions.

Our mission is to act as a catalyst and transfer the industry needs to educational institution and make the emerging professionals to equip themselves to gear up so the challenges awaiting for them. In one sentence, we are wanted to Bridge the gap between the industry and education institution. A highly trained, focused, dedicated and competent workforce. Services provided by experts in diverse Domains Strategic, analytical capability, the intellectual curiosity to understand different domains. The patience to do the necessary homework. Capability to understand talents and motivation of individuals being reviewed. Honesty in providing necessary information about candidates Ability to define problems, challenges of the client and analyzing the candidate fit for the same.For the benefit of students/ working professionals wanting to upgrade their skill sets, we are conducting the following training programs Corporate Training Internship Training Professional Training Project Training Career Training Real Time Training Industrial Training And also we cover the different technologies which are useful for the careers of students/working professionals.
Microsoft Technologies - VB. Net, C#. NetSun Microsystems - Java, J2EE

Database Management System - SQL SERVER 2008, ORACLE 12g, MY SQL Testing PHP Android Development Embedded Systems

Methodology
Sources of data collection:The primary data about Employee Satisfaction is collected from Employees using a structured Questionnaire which contained both open ended as well as closed ended Questions. A questionnaire of 95 questions was designed keeping in view the objectives and other aspects which are mentioned below General Work Environment Compensation and Benefits Respect for Employees Respect for Management Opportunities for Growth Teamwork Communication Feed back Closing

Which latter on edited to 65 questions precisely. Our motive was to cover all the areas which were related to Employees and measure his/her satisfaction level in those areas. In order to get a clear, unambiguous and confidential report we used the third party tools for getting survey report. We used the web portal www.custominsight.com, this web portal generally holds these kind of surveys. We used this portal because of the fact that individually getting feedback may not give the actual opinion as they may feel that their confidentiality may be lost and the results may be biased due to influence of others opinions. To carry out the survey we prepared the questionnaire of 65 questions divided into various sections and we uploaded the questionnaire into the website and the survey would be active for a stipulated period of time. The study of Employee Satisfaction was done with a sample size of 21 Employees who were at least three months old in the organization. We gave the access details like user id & password to the employees, when they log on to the site it automatically generates the passwords where in employees can log on for the next time to complete the survey, it also gives you the flexibility to stop the survey at any point of time and continue the survey at their leisure. When the Employee finishes the survey it automatically generates the word document of that report and sends it to survey mail id. After accumulating all responses from Employees we generated reports on various categories like Consolidated report Individual report Team wise report Reports based on gender Reports based on seniority Reports of Newcomers

All the reports were generated using the www.custominsight.com except the consolidated report which was prepared manually using Ms-Excel. The reports that I am enclosing would be consolidated report

About Custominsight:Custominsight was founded in 1998 as a technology spin-off from a Silicon Valley HR consulting firm. The technology behind the Custominsight survey solution was developed in support of large-scale survey projects administered by that firm for the purposes of executive development, cultural assessments, and corporate consulting. The technology was so widely acclaimed; the consulting firm recognized the value of the underlying technology to other organizations wishing to run surveys. As a result, Custominsight was born.

Custom Insights mission is to provide end-to-end survey solutions to their clients. Their core values include a commitment to technology excellence, professionalism, and outstanding customer service.

Graphical interpretation of the survey

General

Work Environment

Compensation and Benefits

Respect for Employees

Respect for Management

Opportunities for Growth

Team work

Communication

Feed back

Closing

Limitations
These were certain limitations of my project if these limitations would have been taken care of project would have been catered to its need in a better way Survey was conducted in 2 days due to which Employees did not get enough time to complete the survey properly.

Incidents happening at the time of the survey have affected it.

Employees thought that the questionnaire was too big and too specific.

Custom insight web portal has a limitation of giving analysis of 10 responses free of cost, so we could not get full fledge report of all the employees together and hence we thought of creating our own report using Ms-Excel.

Responses to open ended questions were not been given as the employees were reluctant in giving responses due, to which we could not decipher the exact opinion of the Employees for most of the questions.

Due to the following limitations the desired objective for conducting Employee Satisfaction Survey was not achieved

Findings

After being a part of entire survey i.e. from preparation of questionnaire to the preparation of final report, I was able to identify the benefits from the survey conducted and also recognized some of the areas where Employees showed dissatisfaction, which are as follows: o Employees were pleased to work with Halcyon. o People expressed their confidence in management of Halcyon o Most of the Employees were not clear about the mission & vision statement of Halcyon. o Employees are not comfortable with the work place. o Employees are unhappy with the Pantry & Conference facilities provided to them. o Employees feel that they are unable to balance their personal and professional life. o Most of the Employees are displeased with their Compensation and benefits part. o Individuals are treated fairly in Halcyon. o Employees are very much happy with their respective team leads. o Individuals working in teams are happy with cooperation which they get o from their respective teams. o People working in Halcyon felt that they can freely share their opinion on various things relating to work and personal life with others. o Employees strongly feel that they have Opportunity for their career growth at Halcyon. o Employees are pleased with the Hr department.

o Lack of discipline is found with respect to time management. o Employees are satisfied with the current policies of Halcyon technologies. o Employees are unhappy with their performance evaluation policy. o Most of the Employees are dissatisfied with the lack of feedback they get from their team leaders.

Recommendations
After the successful completion of the survey i.e. when all Employees submitted their feedback we analyzed it in following ways Consolidated report of all the Employees taken and difficulties faced by them were taken into consideration. Then team wise about the perception and problems faced in teams were analyzed. Then reports were divided according to gender and analyzed and finally reports according to seniority were prepared from which the consolidated report that had been enclosed shows the overall levels of Employee Satisfaction at Halcyon Technologies. After analyzing the consolidated report, I thought the below suggestions given by me would help Halcyon to create an amicable & peaceful environment where people feel proud to work. The recommendations are follows: 1. Some of the questions for which negative feedback was expected were deleted , in my view when they were planning to take an overall opinion about employee satisfaction levels all the factors related to employee satisfaction should be covered.

2. Quick and prompt action should be taken for the areas found in Employee feedback which need improvement. 3. Employee should be given more time to fill up the survey. 4. Recent training and development sessions were useful to employees. Most of them felt that the training sessions should continue and this session should focus more on their technical and soft skills. 5. In spite of company providing many benefits to employees, most of them are not happy with benefits plans of the company, I would like to recommend Halycon to go for benefits like sodex-ho passes, spouse insurance etc... 6. Most of the employees felt that they should be a balance of work between personal and professional life. This kind of stress can be reduced by encouraging fun related activities in the office regularly.

7. Employees says that there should be more space in the pantry and they also require more chairs as employees cannot go together for lunch and hence hampers the mutual communications. This can be overcome by providing more chairs or by making the sitting arrangements more spacious. 8. Halycon should try to encourage its employees by taking them out for an outing or team dinner so as to boost up the team and give them relaxation from their routine activities. 9. Employees feel that their performance evaluation is not fair,this can be abridged by making its employees clear about the policies and procedures. 10. Team leads should give them a feedback for every fifteen days so that they can asses themselves and work on their weakness to convert them into strengths. 11. Lack of discipline has been found with respect to time, I would like to recommend Halycon to go for an effective time sheet.