HR Policies in Real Estate

CHAPTER I
INTRODUCTION TO RESEARCH
STUDY
1
INTRODUCTION
The study was undertaken to understand the concept of Human Resource Policy and its
implementation in any organization. Human resource policies are the formal rules and guidelines
that businesses put in place to hire, train, assess, and reward the members of their workforce.
These policies, when organized and disseminated in an easily used form, can serve to preempt
many misunderstandings between employees and employers about their rights and obligations in
the business place. It is tempting, as a new small business owner, to focus on the concerns of the
business at hand, and put off the task of writing up a human resource policy. All business
analysts and employment lawyers will advise a new business owner to get a policy down on
paper, even if it is a simple one drafted from a boilerplate model. Having policies written is
important so that it is clear to all what the policies are and that they are applied consistently and
fairly across the organization. Moreover, when issues concerning employee rights and company
policies come before federal and state courts, it is standard practice to assume that the company's
human resource policies, whether written or verbal, are a part of an employment contract
between the employee and the company. Without clearly written policies, the company is at a
disadvantage.
Small businesses--and especially business startups--cannot afford to fritter away valuable time
and resources on drawn-out policy disputes or potentially expensive lawsuits. Having a human
resource policy in place from the start can help to avoid this situation. The business owner who
takes the time to establish sound, comprehensive human resource policies will be far better
equipped to succeed over the long run than the business owner who deals with each policy
decision as it erupts. The latter ad hoc style is much more likely to produce inconsistent,
uninformed, and legally questionable decisions that may cripple an otherwise prosperous
business. For as many small business consultants state, human resource policies that are
inconsistently applied or based on faulty or incomplete data will almost inevitably result in
declines in worker morale, deterioration in employee loyalty, and increased vulnerability to legal
penalties. To help ensure that personnel management policies are applied fairly, business owners
and consultants alike recommend that small business enterprises produce and maintain a written
record of its HR policies and of instances in which those policies came into play.
Subjects covered by Human Resource Policies
Small business owners should make sure that they address the following basic human resource
issues when putting together their personnel policies:
 Equal Employment Opportunity policies
 Employee classifications
 Workdays, paydays, and pay advances
 Overtime compensation
2
 Meal periods and break periods
 Payroll deductions
 Vacation policies
 Holidays
 Sick days and personal leave (for bereavement, jury duty, voting, etc.)
 Performance evaluations and salary increases
 Performance improvement
 Termination policies
A broad spectrum of issues can be addressed in human resource policies, depending on the
nature of the business in question. Examples of such issues include promotion policies;
medical/dental benefits provided to employees; use of company equipment/resources (access to
Internet, personal use of fax machines and telephones, etc.); continuity of policies; sexual
harassment; substance abuse and/or drug testing; smoking; flextime and telecommuting policies;
pension, profit-sharing, and retirement plans; reimbursement of employee expenses (for traveling
expenses and other expenses associated with conducting company business); child or elder care;
educational assistance; grievance procedures; employee privacy; dress codes; parking; mail and
shipping; and sponsorship of recreational activities.
Advantages of formal Human Resource Policies
Small business owners who have prepared and updated good personnel management policies
have cited several important ways in which they contribute to the success of business enterprises.
Many observers have pointed out that even the best policies will falter if the business owners or
managers who are charged with administering those policies are careless or incompetent in doing
so. But for those businesses that are able to administer their HR policies in an intelligent and
consistent manner, benefits can accrue in several areas:
 Communication with employees. A well written and thoughtfully presented human

resource policy manual can establish the tone that a new business person wishes to
maintain within his or her business. Such a policy also serves to disseminating
information about what employees may expect from the company as well as what the
employer expects from the employees regarding work performance and behavior while
on the job.
 Communication with managers and supervisors. Formal policies can be helpful to
managers and other supervisory personnel faced with hiring, promotion, and reward
decisions concerning people who work under them.
3
 Time Savings. Prudent and comprehensive human resource management policies can save
companies significant amounts of management time that can then be spent on other
business activities, such as new product development, competitive analysis, marketing
campaigns, etc.
 Curbing litigation. Members of the legal and business communities agree that
organizations can do a lot to cut off legal threats from disgruntled current or ex-
employees simply by creating--and applying--a fair and comprehensive set of personnel
policies.
Making changes to existing policies
Companies typically have to make revisions to established HR policies on a regular basis, as the
company grows and as the regulatory and business environments in which it operates evolve.
When confronted with the challenge of updating HR policies, however, it is important for small
businesses to proceed cautiously. For example, if an employee asks the owner of a small
business if he might telecommute from his home one day a week, the owner may view the
request as a reasonable, relatively innocuous one. But even minor variations in personnel policy
can have repercussions that extend far beyond the initially visible parameters of the request. If
the employee is granted permission to work from home one day a week, will other employees
ask for the same benefit? Does the employee expect the business to foot the bill for any aspect of
the telecommuting endeavor--purchase of computer, modem, etc.? Do customers or vendors rely
on the employee (or employees) to be in the office five days a week? Do other employees need
that worker to be in the office to answer questions? Is the nature of the employee's workload
such that he can take meaningful work home? Can you implement the telecommuting variation
on a probationary basis?
Small business owners need to recognize that changes in HR policy have the potential to impact,
in one way or another, every person in the company, including the owner. Proposed changes
should be examined carefully and in consultation with others in the organization who may
recognize potential pitfalls that other managers, or the business owner herself, may have failed to
detect. Once a change in policy is made, it should be disseminated widely and effectively so that
everyone within the business is working from the same human resource policy at all times.
HR Policies in Real Estate / Construction Company
Normally in a construction co., goal is first set by the management. It depends on the type of
construction the company is in viz. Power Plant Construction, Residential, Commercial, Projects
from other organizations, Townships, Fuel line construction, chemical plant construction, docks
construction, etc. After the goal is set, this is then informed by the management to the respective
departments. Strategy is then formulated after discussions and/or debates between various
department heads including the share holders of the company. After the strategy is adopted, a
guideline is prepared to implement the strategy. Normally the strategy is distributed to the
respective departments, viz. planning, contracts, purchase, sales, marketing, etc. It is true that
4
without manpower, the construction of any product does not come into effect. And therefore to
handle the various concerns related to the manpower (viz. recruitment, safety, health, behaviour,
work, etc. ), an HR and personnel department is established. Since you are talking about goals,
strategies, etc. be more sure what you wanted since these things might have been developed by
the organization you are working for. To set up policies related to code of conduct of the
employees, medical assistance, housing and food assistance, leave travel assistance, leave
calculation, overtime calculation, minimum wage, increment, super annuation, security
assistance, accident assistance, gratuity, insurance, etc. you will have to comply with the GCC
employment rules and regulations. Similarly for HRD, statutory requirements for recruitment,
interview procedures, working hours, etc. you will have to gather the details from the respective
departments the candidate will be selected for. Your role will be short listing the candidates for
interview, co-ordinate the interview between the candidate and the head of the respective
department, preparation of contract agreement (which will differ from positions to positions and
nationality of the candidate), air-ticket arrangement, visa arrangement, medical check-up of the
candidate for residence permit/work permit, accommodation arrangement, food arrangement,
transportation from site to accommodation arrangement, and a whole load of other arrangements
as and when required for the upkeep of the employee.
Real Estate in Hyderabad
The Hyderabad real estate market is different when compared to other developed cities. The
market uncertainty continued in Hyderabad for a long time all through the
Telanganamovement.The demand for real estate was high but due to political and social turmoil,
the supply was very low. However, with the establishment of a stable government and and the
pro-industrial policies introduced by the new government, many international organizations and
multinational companies decided to set up their base in Hyderabad due to low cost of real estate
and availability of land space. The Hyderabad real estate market started to see a leap post 2015.
With a property price that was quite affordable as compared to other major cities in the country,
the real estate scenario in Hyderabad was promising. Property sales increased and many
established real estate developers were keen on investing in Hyderabad real estate market. There
was an increase in cash flow with heavy bank deposits. This led to a rise in demand in the real
estate sector to divert the cash in order to avoid any hassles by the income tax department. But
again with the introduction of high GST rates and real estate law like RERA, there was a
temporary slug in the demand for some time. But with a revision (reduction) of the GST rates
and a clarification on RERA, the demand for real estate has increased again.
In spite of a highly active real estate market, there is still a shortage of office spaces and homes.
In Hyderabad there is a huge demand for the construction of office buildings. Upto 90 lakh
square feet of office spaces are under construction annually. In the past 3 years, 2.5 crore square
feet of office spaces as been constructed and most of them have been leased out. Owing to
various organizations setting up their bases in Hyderabad, new employments have reached
millions in the city that have automatically increased housing demand. Madhapur, Gachibowli,
5
Nanakramguda, Kokapet, Raidurgam, Gopanpally and Narsingi have witnessed a growth in the
real estate demand.
Realtors have expressed interest in the Hyderabad real estate market than the realty sector in
other states. In the realty market of Mumbai, Delhi, Bangalore or Chennai, properties are booked
when the project begins and they are later sold for profit when prices appreciate. That is however
not the case in Hyderabad. Residential apartments and villas are bought mostly for end-use.
Since so many national and international companies are looking at Hyderabad for investment
advantages, the employment opportunities increase that has prompted a surge in housing
demand. Most metro cities suffer from water scarcity, high cost of living and other lifestyle
issues which is fortunately not the case in Hyderabad. Also with Amazon having opened its
largest campus outside Seattle, USA; the demand in the housing sector is on a constant rise at par
with increased employment opportunities.
At present, there is no news of any such negative effect of recession in the IT sector.
Additionally the IT industry is thriving in Hyderabad with many new companies planning to
open their campuses in the city. This is good news for the Hyderabad realty sector. There still
remains a concern that the recession might affect the real estate industry later in the present year.
The real estate association is urging the government to bailout before the industry collapses
under the impact of the economic downturn. They also want to reduce the home loan rate from
9% to 7.5% to save the Indian economy and the real estate sector.
Only time will tell if the recession will have a minor impact or a major bump on the Hyderabad
real estate.
OBJECTIVE OF THE STUDY
6
The establishment of the policies can help the Real Estate industry demonstrate that it meets
requirements for diversity, ethics and training.
 The purpose of this project is to explore how a firm can incorporate real estate strategy
with its core strategy, using the workspace to support its human resource objectives.
 The intent is to examine how important the quality of the workplace is to employees and
the resulting impact it can have on productivity, loyalty, satisfaction, and retention in a
knowledge industry.
 To know whether employees are aware of these policies and are deriving benefits for
themselves as well as the company.
 The study uses a survey to gather data on employee opinions about the importance and
quality of workplace features.
 This project helps us to understand how a firm can link corporate and real estate
strategies to boost productivity, employee loyalty, employee satisfaction and retention.
NEED FOR THE STUDY
7
This work will clearly expose the final statement regarding a better condition of the organization
where employees are treated as human resources and employees also enjoy a really soothing
work environment with satisfactory pay-package with future safety and security with some other
beneficiary activities of the organization.
There is a high degree importance of the subject. Research says all the organization, which are
treated, as successful business houses are more concentrated on the well management of its
stakeholders. All the most high-ranking organizations of the world reached the zenith due to this
reason. Machine without man is nothing but liability. Management is failed when it dissatisfies
employees and even management sometimes cannot find out how much it could have achieved
more, if it had a group of satisfied employees. Satisfaction is not only related with the salary but
also with the employee’s duties and responsibilities. It is highly and remarkably related with the
work environment and the treatment of the management extended towards its employees.
Human being is virtually created as honest. Earthly environment, its affects, competitive
advantage & disadvantage sometimes make human being impatient. Human being as employees
is not exceptional from this reality. Salary, inter-person relation, promotion, motivation, bossing,
entire work environment effect on employees. Sometimes this is positive and of course
sometimes negative. Positive affect brings satisfaction and devotion to work while negative
affect brings dissatisfaction on the work. This work will help managements to take decision
about management of human resources and ultimate progress of the organization with the
devoted and really deserving employees.
SCOPE OF THE STUDY
8
In any organization human resource is the most important asset. Aliens Developers Pvt. Ltd. is
determined to play a leading role in the development of the Real Estate sector in the twenty-first
century.
As most of the company’s overall performance depends on its employee’s

performance which depends largely on the HR POLICIES of the organization. So the project has
wide scope to help the company to perform well in today’s global competition.
The core of the project lies in analyzing and assessing the organization and to design an HR
POLICY manual for the organization.
LIMITATIONS OF THE STUDY

9
There are certainly some limitations of study;
 Only one subject field was selected for the entire works. The subject matter was a real estate
firm, which is not enough.
 Number of interviewee was also limited with the company. There was a high probability that
the employees would be tuned with the management.
 Different types of employees were over there as interviewees. There was a probability that
different educational and family backgrounds might affect the study.
 There was a limitation of time frame.
 Top management was not included in the study. There was a great probability how the truth
came to light.
 The main limitation of the study was the question of proper mental and physical condition of
the interviewees.
10
CHAPTER II
REVIEW OF THE LITERATURE
This part of the research is very essential and is regarded as the back bone for this dissertation.
This will help in the establishment of solid background that is essential to investigate the impact
11
of organizational development on employee motivation. Different school of thoughts would be
reviewed to understand the core concept about the topic. Relevant theories and models will be
discussed and analyzed in order to provide an insight to what is already known on the subject
matter.
DEFINITIONS OF HR POLICIES
A Policy is a formal statement of a principle or a rule which all members of an organization are
bound to follow. The dictionary meaning of policy is a “plan of action” and that “Plan” is a
policy.
According to Edwin B. Flippo, a ‘policy is a rule or pre-determined course of action established

to guide an organisation towards its objectives’. Thus, a policy guides the course of future
actions of the management.
Yoder observes, A policy is a pre-determined, selected course established as a guide towards

accepted goals and objectives. In general, policies constitute guides to action.
Peter Drucker has rightly said, The management must gear its policies and objectives in such a
fashion that the employees perform their work and do their assigned tasks. It implies a
consideration of human being as a resource, i.e. as something having peculiar psychological
properties, abilities and limitation that require the same amount of engineering attention as the
properties of any other source, e.g., copper.
According to Calhoon, Personnel policies constitute guides to action. They furnish the general
standards or bases on which discussions are reached. Their genesis lies in an organisation’s
values, philosophy, concepts and principles.
Michael J. Jucius has also expressed his opinion on the nature and purposes of personnel
policies. According to him, ‘policies are basic rules established to govern functions so that they
are performed in line with desired objectives’. While clarifying this definition, Jucius has pointed
out that policies are guides to action and not the action.
Armstrong has defined HR policies as follows: “Human resource policies are continuing
guidelines on the approach the organization intends to adopt in managing its people. They define
the philosophies and values of the organization on how people should be treated, and from these
are derived principles upon which managers are expected to act when dealing with human
resource matters.”
As the HR team is responsible for recruiting the right people in the company, and there after
managing these people and their needs, queries, and various problems. Without a strong HR
team and even stronger policies and procedures, no organization could run smoothly. As every
individual working in an organization is different, each individual has their own set of wants,
12
needs, aspirations, problems, and how they plan on fixing these problems. An entire load of all
this falls upon the HR department of an organization.
Human resource policies are always a must in all types of organizations as they need to cater and
meet the needs of all types of people. There are different natured people, not surprisingly all go
well with each other. Few people might have a habit of accepting what is the norms, few might
want to relax the rules but still written policies have the power to make people stick to the
regulations of the organization.
The main purpose of HR polices are;
 HR policies are not only for effectively drawing rules for employees but also to recognize
their needs, respect their thoughts.
 HR policies are needed because every individual has a different opinion on all things. Not all
need to accept others view. Hence, HR policies will make everyone respect and follow same
rules.
 A well-written HR policy will reduce the conflict among employees as well as help the
higher officials in the organization to take correct decisions based on the official rules and
regulations.
 A good HR policy will not only maintain the wellness of the organization inside but it also
will create a good corporate image among the society as well as job seekers too.
Even before employees are hired into a company, the HR team must sit and draft out its set of
policies and procedures. It is these policies which every employee of an organization is bound to
follow, in order to assure harmony in the organization.
There are four major key elements that an organization must keep in mind when drafting out
their HR Policies and Procedures. These major elements are: Roles, Rules, Consequences and
Tools.
 HR Policy Roles
One of the first most important tasks of building an HR policy is to have a clear formation of
employee Roles. Role definition is a crucial part of establishing clear performance
expectations from employees. Each and every employee in an organization must be clear
about his role and how much he can exercise his powers within his role. Only when role
definition is made clear to each employee, that he will know what exactly is expected of him,
and what he can expect from the company. If an employee’s role is not made clear to him, he
may exercise rights which are beyond his powers and jurisdiction.
 HR Rules & Regulations

In every workplace, employees and employers need to share a clear and mutual
understanding of what is acceptable and what is not. Certain people feel it is essential to have
clear, written rules in every organization, while others are more comfortable with having no
13
set of rules. If we took the case of the latter, this would mean having no discipline and no
punishments for wrong behavior or action. You might fall victim to the effects of someone
else’s bad behavior, and without any clear set of rules and policies, that person could not be
held responsible for his actions. This would have a derogatory effect not only on the people
working in the organization but also on the organization as a whole. On the other hand, if an
employer relies on a loose set of rules which have not been documented; it is easy for people
to assume these rules are open to interpretation. The result would be a working environment
which would be out of tune with the ultimate goal of the organization.
 Consequences of Poor Human Resource Policies

Every individual in an organization has their own set or principles, morals and ethics. Is it not
necessary that two people working under the same roof would share a set of values. But
when this set of people join together to work in a professional environment, and if they are
each allowed to exercise their perceptions of right and wrong behaviour, chaos would surely
ensue. In order to keep the workplace a professional and pleasant environment, certain set of
rules or policies and procedures are made. Even with formal documentation, certain people
have a tendency to test their limits. To prevent exactly this from happening, along with the
set of policies and procedures, the company must also decide beforehand what their policy
towards employees exhibiting bad behaviour is. The company head must sit with the HR
team and decide what they consider over the line behavior, or inappropriate behavior. Not
only that, they must also decide what the appropriate consequences of these behaviors should
be. After these are decided, it must be explained to all employees, so that each employee is
aware of their roles, the rules and regulations of working in the company, what appropriate
and inappropriate behavior is, and how the company will deal with inappropriate behavior.
Ground rules must be set out, employees must be told what behaviors might lead to
immediate termination.Consequences for inappropriate behavior, while it may sound harsh to
some, are the only way an organization will be able to succeed. This ensures that their best
employees are retained, and their new employees are well trained to be an asset for the
company. In order to build a good company, it is essential for employees to be able to work
together peacefully. This is attainable by having a proper set of policies and procedures in a
company.
 HR Tools
Tools are defined as the resources you provide to the employees in your organization who are
incharge of managing other employees. Whether you have provided them with the employee
handbook, company policy manual and procedures guides, and simple forms to use when
faced with problems such as inappropriate behavior from an employee. Providing in-house
training or even hiring experts to provide training to employees regarding work culture,
policies, how to address issues and grievances, and correct training on appropriate and
inappropriate workplace behavior should be provided. These tools, if provided before hand to
14
employees, will help save a lot of productive time and resources when dealing with rules and
regulations and consequences of wrong actions.
The purpose of HR Policies and Procedures
 Organizational Structure
Human resource policies and procedures can differ from organization to organization.
Yet, they are simple, straight forwards ground rules which every employee of an
organization must abide by. The HR policies provide guidelines on employer-employee
interaction, behavior, appropriate work behaviors, work schedules, employment laws,
conflict resolution, disciplinary measures and health and safety measures. These policies
and procedures are what provide foundation and structure to any organization.
 Legal Issues
The HRM policies and procedures of an organization are made to comply with the laws
and regulations of a country. These HR policies and procedures are made to prevent
lawsuits as far as possible, in case of problems faced as the workplace. Employees are
required to be informed about these policies and procedures and their legal implications
to ensure smooth operations in an organization.
 Supervision Guide:
HR policies and practices provide employees with the right tools, guides and resources on
how to manage employee and employment matters in an organization. This greatly helps
organizations streamline their workflow and run like a well-oiled engine. The HR
policies and procedures allow supervisors and managers to train, guide and manage new
or existing employees. They also provide formal guidance on how to manage grievances
at the workplace.
 Consistency:
HR practices, policies and procedures help an organization in maintaining consistent
practices in the workplace. Consistent application of HR policies and procedures help
prevent dissatisfaction amongst employees, as sudden changes in schedules, benefits or
roles and responsibilities can create an unhealthy working environment.
Why Develop an HR policy?
 Help employees and employers run the organization in a smooth and efficient manner.
 Help take human resource decisions, make and manage policies and hr guidelines for the
employees of the organization to follow.
 Documenting all organizational policies and procedures, rules, regulations,

communicating the same to the employees.
15
 Saves countless hours of productive time and funds.
 Defines management hr standards for making decisions on various organizational as well

as personal issues.
 Protect the legal interest of the company as well as define the legal obligations of the
employees towards the organization.
Importance of HR Policies & Procedures
The following points show us why are policies and procedures important for human resource
management process.
1. HR policies and procedures ensure every employee of the organization is looked after;
his needs respected and proper benefits are given to them for their work.
2. They help address complaints, problems and grievances of employees and solve them
appropriately.
3. They protect employees from wrong behavior from other employees or even from the
organization itself.
4. Helps train and develop employees who are consistent with the needs of the organization.
5. Helps employees receive adequate compensation.
6. Helps maintain discipline in the workplace.
7. Provide paid vacations and holidays to eligible employees.
How Do You Effectively Communicate HR Policies and Procedures to Employees?
 Make sure the written documentation or guidelines made by the organization are easily
understood by all employees to avoid inconsistency and confusion.
 Ensures all managers and supervisors are well trained and able to provide training to new
employees as well.
 Ensure all employees and employers are properly trained in appropriate and inappropriate
workplace behavior and work culture norms.
 Periodically review the policies and guidelines to ensure they are appropriate and up to
date.
Human Resource Management Policies:
16
 Employment Policies: Guideline of the recruitment and selection process of new
employees, as well as their orientation.
 Employment Status And Records: Provides access to individual employee accounts,
personal files, background checks and performance reviews.
 Employee Benefits: Written terms and conditions defining employee benefits such as
paid leave, insurance, holiday and employee reimbursements.
 Payroll: Policies related to employee salary and wage, deductions and advances.
 Workplace Guidelines: Guidelines defining work arrangements like conveyance, flex
time and use of company assets.
 Employee Conduct: Defining appropriate workplace behaviors and norms, conduct of
employees, preventive measures to check substance abuse, harassment and workplace
violence.
 E- Policies: These are guides informing employees on proper usage of the organizations
information and fair use of the internet.
Benefits of HR Policies & Procedures
 Recruitment and Employment:

Human resources are responsible for all the functions of advertisement, recruitment,
selection, training and development of an organization. Recruitment, selection and
training of new employees are done based on the HR policies developed for the company.
 Compensation and Evaluation:

Human resources team members are responsible for conducting proper market survey and
job analysis to determine adequate compensation of employees. Performance review and
job evaluation are also conducted by the human resources team in lines of the HR
policies so as to provide standardization and unbiased reviews. The HR policies do not
state the quantitative measurement of compensation, employees must receive; but they
state that each employee must be adequately compensated for his\her input.
 Training and Development:

HR policies include the tools and resources available to the employers to provide proper
training to employees. They also help new employees as well as old employees get
enough assistance in case of added responsibilities.
 Grounds For Termination:

HR policies contain guides and information on grounds for termination of employees.
These policies help protect the organization from harmful employees. They also provide
clear cut ground rules for the violation of any company policies or rules, which call for
corrective measures, or in the worst case scenario, termination of the contract of an
employee.
17
While HR policies and procedures may be developed in every organization, it is eventually up to
the staff members and employees to put them into action, and provide a safe working
environment for all.
18
Role of HR in Real Estate Company
The human resources department of a business, also known as the HR department, is responsible
for anything that has to do with the employees of the business. The same holds true for a real
estate company. The real estate agents representing the agency and the office assistants must
have a department or group of HR workers where they can get support and advice on how to
handle employee matters and address personnel issues.
 Hiring and Recruiting

The human resources department in a real estate company is responsible for recruiting,
interviewing and hiring new real estate employees and agents. Although most real estate
agents are paid on commission, they are still being represented by the real estate agency.
The employees working at the real estate office also must be recruited and hired to ensure
they meet the company’s professional standards. Each employee or agent that comes
through the real estate agency must understand the procedures and regulations that make
the agency credible and experts in the real estate industry.
 Internal Operations
The human resources department also ensures that everything runs and operates as
expected internally between the employees of the real estate agency. This includes
procedures for handling harassment in the workplace, legal matters regarding sales of
homes or apartments and firing unproductive employees. The human resources
department also is responsible for creating and updating safety procedures for the real
estate office, so all employees are safe at all times.
 Agents and Procedures

Even though real estate agents often work on the commission payments from the real
estate sales made, they must follow specific sales procedures to uphold the standards and
credibility of the real estate agency. It is the responsibility of the human resources
department to teach the agents about these procedures and ensure that they are being
followed and respected in each sale. This can include informing buyers about the
procedures, about lending options and about leasing the property, if the house does not
sell as desired.
 Evaluations and Support

As any other company, a real estate agency also conducts employee and agent
evaluations. Any company does not want to keep employees who are not motivated to
work and are a liability for the agency. The agents who represent the business, along with
the internal office workers, are evaluated on an annual basis by the owner of the agency
with support from the human resources department. The evaluations ensure that the
workers and agents are performing as expected to benefit the real estate agency.
19
Literature Review of HR Policies in Real Estate Sector
Human Resources Policies are very significant and indispensable in any production process. As
Nzotta (2002) rightly puts, it is a human related factor that improves, creates or adds value to
other factors of production. Human Resource is also the most important asset for any
organisation (Swathi, 2014), and its management is very challenging if compared to managing
technology or capital and varies from organisation to organisation. Jianjian, Chunlu and
David. (2007) explains that human resources is concerned with managing people within the
employer-employee relationship. Specifically, it involves the performance of people in achieving
the organizations objectives and the satisfaction of personnel employee needs (Jianjian et al,
2007).
Human Resources Policies can therefore be a major contributor to the success of an enterprise. It
is regarded in various industries as the most critical elements of business success. Successful
implementation of HR policies is elementary for improving personnel team and organizational
performance (Dainty, Bagilhole and Neale, 2000). It is a significant aspect of whole planning
and project management in construction project or Real estate sector that involves firms and
collaborators or competitors (Bon & Crosthwaite, 2000). According to Jianjian et al (2007),
HR policies has a significant influence in the construction industry suggesting that managers still
need to pay more attention to people management even with the rapid, advanced construction
technologies and management techniques of the project.
Human Resources Policies recognizes also that all persons in the organization, regardless of their
level or job, are potential source of innovation and talent (Nzotta, 2002). It is one of the core
management areas in building construction (real estate) projects. Karim (2007) noted that HR
constitutes 25-40% of the direct cost of such project depending on their complexity and nature.
HR Policies also drastically affects the total cost of project because it controls the productivity of
materials and equipment that constitutes the remainder of direct costs (Lee, Yu, & Kim, 2004).
However, this area of management application is yet to receive the desired attention. It is also
clear that in real estate projects, all activities are human resources based. From conception to
termination, all activities are controlled by humans. For example, it is a human that will conceive
an idea to develop a property. He has to plan it, look for best way to assemble and manage
human resources and as well procures material resources that will make the project a reality. He
has to recruit experts, manage relevant stakeholders involved in real estate project. No doubt,
Human Resources is also significant aspect of the whole planning and project management
process of real estate project, yet much effort has not been made to critically study its impact on
real estate project management success.
Organizing and managing the real estate project team are the main processes of Project Human
Resource. The project team is comprised of the people who have been assigned roles and
responsibilities. Real estate project team members should be involved in much of the project
planning and decision-making. Early involvement of team members could increase expertise
20
during the planning process and fortifying commitment to the project. The type, structure and
number of real estate project team members are flexible and will change as the project
progresses. Real estate project management is one of the most labour-intensive industries. It
involves many foreign labour, skilled foremen, engineers, supervisors, architects, surveyors etc.
Most of the construction works are in project basis. Hence, effective Human Resource Policies is
very crucial to guide a real estate project towards success.
Nzotta (2002), noted that when Human Resources Policies is wrongly planned for and
controlled, sourced and procured, maintained or combined and utilised, then there is failure of
management. The implication of this is that goals will not be attained. Hence the goal of any real
estate project is to attain success not failure, also task will not be accomplished and productivity
will be low. Worthy of note also is that HR and its policies vary from organisation to another,
that is to say that there are variations in ways Human resources are managed, the nature of
Human Resource policies in real estate project management site is quite different from that done
in a production company, also, the activities takes place in a steel mining company is different
from that is done in real estate development company. Managers in those diverse firms have
various ways of handling human resources available within such establishment and human
resources policies differs from one firm to another. These human resources policies as well as
HR critical success factors is what the researcher believes, constrain real estate management
project success.
Statement of the Problem

When there is a problem of building development failure, abandonment or collapse, everybody
looks up to the engineers who in their professional pride and personality ego accept the blame
but cannot un-ravage the menace (Nwachukwu and Emoh, 2011). Some researchers have also
tried to identify some cause of real estate project failures, abandonment and collapse yet there
still exist same challenges. For the nation to overcome the challenges of such real estate project
failures, abandonment and collapse, there is need for detailed studies on human resources
management while emphasising human resources practices. HR problems are very common for
real estate project industry players in Nigeria including Awka South L.G.A., Anambra State.
Over the years, stakeholders in the real estate project industry have tried to proffer solutions to
problems of failure, abandonment and collapse of real estate projects with a view to achieving
success. There seems not to be an end to such challenge. It is for this reason that this research is
being designed to address the said challenge which hinges on the HR policies especially as it
concerns Real estate project management in Awka South L.G.A., Anambra State.
21
CHAPTER III
RESEARCH METHODOLOGY
22
RESEARCH DESIGN
A research design is an arrangement of condition for collection and analysis of the data in a
manner that aims to combine relevance to the research purpose with economy in procedure.
The study is descriptive in nature i.e., descriptive research. Descriptive research is concerned
with describing the characteristics of a particular individual or group. This includes surveys and
fact-finding enquiries of different kinds. The main characteristic of this method is that the
researcher has no control over the variables; one can only report what has happened or what is
happening. Thus, the research design in case of descriptive study is a comparative design
throwing light on all the areas and must be prepared keeping the objectives of the study and the
resources available. This study involves collection of data from Executive Level.
In order to conduct this small-scale evaluative study the following methodological measures will
be adopted.
Sampling
Stratified sampling technique is analyzed for selecting the sample of the population. Out of
around 60 employees of Aliens Developers Pvt. Ltd. 66% employees (40 employees) were
sometimes chronologically selected for interview.
A schematic presentation of the sample design
Total Number of Employees of the

Company = 50 persons
66% of the total employees = 40 persons
Total Sample Respondents = 40

participants
Since this is a small-scale study-work for identify the employee satisfaction level and I try to find
out the HRM practices on the basis of both primary and secondary data. 9 Participants who are
23
regular in work and at least three years passed with the organization will be approached for
collecting data.
Key Variables selected for the Study
Characteristics of each individual employee; weakness of employee to organization;

vindictiveness of employee to organization; obstacles of employee to disclose proper
information; fulfillments of expectation of some employees; feelings of some deprived
employees; employee’s knowledge; educational background; activities; thoughts; feeling and
behavior; human resources development; office automation; central decision making;
improvement of overall performance; Employee’s career development thoughts; decision making
ability; ability to instant trouble shooting and handling; developing administrative capacity;
motivating employees; employee’s working experiences; training background and nature of
organization will also be taken as one of key variables.
SOURCES OF STUDY
Both primary and secondary sources were used to collect information for this research and
report. Following information/variables were considered to conduct this study that is illustrated
below.
 Primary Sources of Data: Primary sources of information include data collection from
the study with the help of questionnaire, observation methods with the respondents. But it
is mainly interview based.
 Secondary Sources of Data: Secondary sources of information includes data collection
from reports and statistical inferences, some vital statistics of such type of previous base
line survey reports, of such type of records of the previous studies and reports prepared
by various similar natures of organizations.
24
CHAPTER IV
INDUSTRY & COMPANY PROFILE
25
ABOUT REAL ESTATE INDUSTRY
Introduction
Real estate is the property, land, buildings, air rights above the land and underground rights
below the land. The term real estate means real, or physical, property. “Real” comes from
the Latin root res, or things. Others say it’s from the Latin word rex, meaning “royal,” since
kings used to own all land in their kingdoms. The U.S. Constitution initially restricted voting
rights to only owners of real estate.
The real estate sector is one of the most globally recognized sectors. Real estate sector comprises
four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well
complemented by the growth of the corporate environment and the demand for office space as
well as urban and semi-urban accommodations. The construction industry ranks third among the
14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy.
It is also expected that this sector will incur more non-resident Indian (NRI) investments in both
the short term and the long term. Bengaluru is expected to be the most favoured property
investment destination for NRIs, followed by Ahmedabad, Pune, Chennai, Goa, Delhi and
Dehradun.
Four Types of Real Estate
There are four types of real estate:
 Residential real estate includes both new construction and resale homes. The most

common category is single-family homes. There are also condominiums, co-ops,
townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational
and vacation homes.
 Commercial real estate includes shopping centers and strip malls, medical and

educational buildings, hotels and offices. Apartment buildings are often considered
commercial, even though they are used for residences. That's because they are owned to
produce income.
 Industrial real estate includes manufacturing buildings and property, as well as

warehouses. The buildings can be used for research, production, storage, and distribution
of goods. Some buildings that distribute goods are considered commercial real estate. The
classification is important because the zoning, construction, and sales are handled
differently.
 Land includes vacant land, working farms, and ranches. The subcategories within vacant

land include undeveloped, early development or reuse, subdivision and site assembly.
Here's more at Land Broker Transactions.
26
Market Size
By 2040, real estate market to grow to Rs 65,000 crore (US$ 9.30 billion) from Rs 12,000 crore
(US$ 1.72 billion) in 2019. Real estate sector in India is expected to reach a market size of US$ 1
trillion by 2030 from US$ 120 billion in 2017 and contribute 13 per cent of the country’s GDP
by 2025. Retail, hospitality and commercial real estate are also growing significantly, providing
the much-needed infrastructure for India's growing needs. Indian real estate increased by 19.5
per cent CAGR from 2017 to 2028.
Sectors such as IT and ITeS, retail, consulting and e-commerce have registered high demand for
office space in recent times. Commercial office stock in India is expected to cross 600 million
square feet by 2018 end while office space leasing in the top eight cities is expected to cross 100
million square feet during 2018-20. Gross office absorption in top Indian cities has increased 26
per cent year-on-year to 36.4 million square feet between Jan-Sep 2018. Co-working space
across top seven cities has increased sharply in 2018 (up to September), reaching 3.44 million
square feet, compared to 1.11 million square feet for the same period in 2017. New completion
of office space is expected to increase 15 per cent to cross 43.6 million square feet in 2019.
How the Real Estate Industry Works
Real estate also refers to producing, buying and selling real estate. Real estate affects the U.S.
economy by being a critical driver of economic growth.
27
Construction of new buildings is a component of gross domestic product. It includes both
residential, commercial, and industrial buildings. In 2018, real estate construction contributed
$1.15 trillion to the nation's economic output. That's 6.2% of U.S. gross domestic product. It's
more than the $1.13 trillion in 2017 but still less than the 2006 peak of $1.19 trillion. At that
time, real estate construction was a hefty 8.9% component of GDP.
New home building is a critical category. It includes the construction of single-family homes,

townhouses, and condominiums. The National Association of Home Builders provides monthly
data on home sales and average prices. The data on new home sales is a leading economic
indicator.3 It takes four months to establish a trend for new houses sold.4
Real estate agents assist homeowners, businesses and investors buy and sell all four types of
properties. The industry is typically divided up into specialists that focus on one of the types.
Sellers' agents help find buyers through either the Multiple Listing Service or their professional
contacts. They price your property, using comparative listings of recently sold properties known
as "comps." The can help you spruce up your property so it will look its best to customers. They
assist in negotiations with the buyer, helping you get the highest price possible. Here are
more sellers' agent services.
Buyers' agents provide similar services for the home purchaser. They know the local market.
That means they can find a property that meets your most important criteria. They also compare
prices, called "doing comps." It allows them to guide you to areas that are affordable. Buyers'
agents negotiate for you, pointing out reasons why the seller should accept a lower price. They
help with the legalities of the process, including title search, inspection and financing.
Real Estate Investing
Everyone who buys or sells a home engages in real estate investing. That means you must
consider several factors. Will the house rise in value while you live in it? If you get a mortgage,
how will future interest rates and taxes affect you?
Many people do so well with investing in their homes they want to buy and sell homes as a
business. There are many ways to do that. First, you can flip a house. That's where you buy a
house to improve then sell it. Many people own several homes and rent them out. Others use
Airbnb as a convenient way to rent out all or part of their homes. You can rent vacation homes
using VRBO or Home Away.
You can also invest in housing without buying a home. You can buy stocks of homebuilders.
Their stock prices rise and fall with the housing market. Another way is with Real Estate
Investment Trusts, called REITs. These are investments in commercial real estate. Their stock
prices lag behind trends in residential real estate by a few years.
28
The Indian real estate sector has witnessed high growth in recent times with the rise in demand
for office as well as residential spaces. Private Equity and Venture Capital investments in the
sector have reached US$ 1.47 billion between Jan-Mar 2019. Institutional investments in India’s
real estate are expected to reach US$ 5.5 billion for 2018, the highest in a decade. Between 2009-
18, Indian real estate sector attracted institutional investments worth US$ 30 billion and received
US$ 2.3 billion in first half of 2019. Real estate attracted around US$ 14 billion of foreign
private equity (PE) between 2015 and Q3 2019.
During April-June 2019, the gross leasing of office space doubled to 18.7 million sq ft across
eight major cities.
According to data released by Department of Industrial Policy and Promotion (DIPP),

construction is the fourth largest sector in terms of FDI inflows. FDI in the sector (includes
construction development and construction activities) stood at US$ 25.12 billion from April
2000 to June 2019.
Some of the major investments and developments in this sector are as follows:
 First REIT raised Rs 4,750 crore (US$ 679.64 million) and was launched earlier in 2019
by the global investment firm Blackstone and realty firm Embassy group.
 In January 2019, Ascendas acquired Chennai's Pallavaram IT Park for US$ 35.70 million.
 Iconic RK Studios property which is located in suburban Chembur, acquired by Godrej

Properties.
 New housing launches across top seven cities in India are expected to increase 32 per
cent year-on-year by 2018 end to 193,600 units.
 In September 2018, Embassy Office Parks announced that it would raise around Rs 52
billion (US$ 775.66 million) through India’s first Real Estate Investment Trust (REIT)
listing.
 New housing launches across top seven cities in India increased 50 per cent quarter-on-
quarter in April-June 2018.
 In May 2018, Blackstone Group acquired One Indiabulls in Chennai from Indiabulls Real
Estate for around Rs 900 crore (US$ 136.9 million).
 In February 2018, DLF bought 11.76 acres of land for Rs 15 billion (US$ 231.7 million)
for its expansion in Gurugram, Haryana.
29
ABOUT ALIENS DEVELOPERS PVT. LTD. (ALIENS GROUP)
Introduction
Since its inception in 2004, Aliens Group has come a long way in redefining the cityscape of
Hyderabad with its passion for innovation and engineering in developing large scale
communities. Aliens Group, Hyderabad, is reputed for its new-age designs and quality
construction showcased in our residential projects and townships. At present, the focus is on
developing residential projects and townships in Hyderabad. In the long run, the Company plans
to be active across other key Indian cities and various asset classes of real estate in order to
comprehensively capture the huge India-opportunity. Partnering with best-in-class
internationally acclaimed architects and design consultants, Aliens Group delivers quality at
attractive prices - leveraging substantial expertise to create significant value for customers and
stakeholders.
Aliens Space Station is distinguished by its highest quality construction, prime location, aesthetic
appeal, functional design and optimum use of space where every apartment is a result of
meticulous planning, incorporating best practices, adhering to a structured quality manual as per
ISO norms and 700 quality checks- starting from incoming raw material checks to handover of
the flats where you have 28 different floor plans to choose from.
Space Station located at Gachibowli - Tellapur, Hyderabad has 80% Open Area consisting of 14
Stations, 83 Towers & 30 Floors in the heart of Hyderabad. Live in a place where a 1.4 km
corridor links all the stations in every floor. The unique 'S' of the Space Station is actually a
scientific, well-engineered concept.
Aliens HUB: 1500 Acres to Live + 4000 Acres to Explore Set against a tranquil landscape, HUB
incorporates innovation Plots in Hyderabad and intelligent living spaces to build a smart
community. Built on principles of sustainable development the HUB is spread over 1500 acres
just 25 minutes drive from the international airport. HUB is a city, not just a township with a 27-
hole Signature golf course, city retreat resort operated by international resort operators, plotted
land (varying from 300 to 2000 sq yards), aviation and aero modelling club, corporate blocks,
SEZs and international school.
Aliens HUB takes the satellite township design leaps ahead in time and presents the urban milieu
with a comprehensive alternative city development where leisure, residence and work are
integrated together. Aliens HUB is well-connected both to the airport and other transport
facilities such as the MMTS and Metro service with plots near Shamshabad airport close to the
ORR (Outer Ring Road). HUB is a one-stop solution to a complete living experience with
increased quality time.
The first in Hyderabad to provide an exclusive 27-hole signature golf course with 5 star resort
developing in an area of 250+ acres in the backdrop of hills lined with Golf Villas and
30
Contemporary Houses. Aliens HUB takes the satellite township design leaps ahead in time and
presents the urban milieu of a comprehensive alternative city development where leisure,
residence and work are integrated together. Designed for tomorrow jet setters, which is well-
connected both to the airport and other transport facilities such as the MMTS, Metro service and
it is also close to the ORR (Outer Ring Road). HUB will be the one-stop solution to a complete
living experience and increased quality time with family. Golf Villas/ Plots: Havens of green,
visible from all your rooms while you live surrounded by intelligent luxury. European style
Villas with just the right touch of customization.
Leaders and Founder of Aliens Group
 Managing Director/ Founder – Hari Challa
Young and forward thinking, Mr. Hari Challa is a Pilot by Profession with a keen sense of
direction and hands-on business acumen he lay strong emphasis on application of
technological advancements and sophistication to urban living. Mr. Hari has successfully
established “Aliens Group” and in a short span of time built an enviable track record &
Brand Equity for the Group. His efforts have resulted in creating a corporate body that is
developing properties of global standards against the other industry giants.
 Joint Managing Director - Venkat Challa
Mr. Venkat Challa, armed with an M.B.A, has exceptional interpersonal and managerial
skills, and is instrumental in transforming the vision of the company into reality. A hardcore
professional with a keen eye for detail, he is responsible for successful completion of the first
5 Projects of Aliens group in Hyderabad. Today, he handles the conceptualization and
implementation of 4 mega projects worth US$ 1.67 Billion.
Awards & Recognitions of Aliens Group
Brand 'Aliens Group' is one of the well-recognized brands in the State today. The company is
also the recipient of several prestigious awards such as:
 2008: Awarded a Platinum Rating by Indian Green Building Council (IGBC) in the
Residential Townships Category.
 2008: Received IGBC Green Homes Platinum award under Indian Green Building
Council.
 2009: Cityscape Awards Real Estate Asia under the best Residential Development-
Future.
 2012: Asia Pacific Property Awards under two categories - Apartment for Aliens Space
Station and Mixed-Use Development for Aliens Space Station, at the International
Property Awards 2012.
 2012: The founder and MD of Aliens Group, Hari Challa has conferred The Green award
for his project Space Station.
31
 2012: Aliens Group’s founder Hari Challa also received The Platinum Award of
Excellence and was listed 5 among India’s Top Young Builders.
Vision and Values of Aliens Group
VISION: ALIENS’s vision is to be the leading construction company in our chosen markets,
sought after by potential clients and employees for our track record in reliable execution, cost
effectiveness, and world class technical sophistication.
OUR STRATEGY: We are committed to differentiating ourselves by continuously

increasing our expertise in executing large and sophisticated buildings, oil & gas facilities
and infrastructure projects while maintaining a highly selective risk management process for
every new project and venture.
ALIENS will always operate at highest level of safety, quality and cost effectiveness, to ensure
we remain the most attractive to our clients, employees and partners. Our success comes from
our people, who strive to continuously innovate, adapt to local markets, and hone their skills.
Through this strategy, ALIENS will continue to grow and increase profitability.
OUR CORE VALUES:
 Excellence: We strive for excellence in quality, and we continuously innovate, utilizing

advanced technologies
 Teamwork: We insist on mutual respect, cooperation and mutual encouragement to
achieve each individual’s potential
 Integrity: We act with reliability, honesty and fairness
 Commitment: We are fully dedicated to delivering our objectives through the most
efficient use of resources
 Sustainability: We are committed to safeguarding all stakeholders, including especially
the health and safety of our employees, society as a whole and the environment
32
CHAPTER V
DATA ANALYSIS &

INTERPRETATION
33
RECRUITMENT & SELECTION
1. Are you satisfied with the external recruitment sources performed in your organization?
No. of Employees Participated = 40

No. of Employees ( in
Category In Percentage
number )
No. of Employees who agree 33 82%
No. of Employees who
7 18%
disagree
External Recruitment Sources
Agree
Disagree
INTERPRETATION:
Regarding external recruitment sources 82%employees are satisfied or agree whereas 18% are
not satisfied which is performed in the organization. Therefore, the employees are satisfied by
recruitment process
2. Are you satisfied with the monetary reward given on bringing a candidate on board?
34
number )
10 26%
disagree
Monetary Reward
Agree
Disagree
INTERPRETATION:
Regarding monetary reward given on bringing on board 74% of employees are satisfied and 26%
are not satisfied.
3. Are you satisfied with the background checks conduct for employees?
35
number )
9 22%
disagree
Background Checks
Agree
Disagree
INTERPRETATION:
Regarding background checks which are conducted for employees 78% employees are satisfied
whereas 22% employees are not satisfied.
4. Are you satisfied with the monetary limits given to you for the expenses?
36
number )
8 21%
disagree
Expenses
Agree
Disagree
INTERPRETATION:
Regarding monetary limits provided to employees for their expenses 79% of the employees are
satisfied and 21% of the employees are not satisfied.
INDUCTION
5. The induction program of your organization is informal type?
37
number )
7 18%
disagree
Induction Program
Agree
Disagree
INTERPRETATION:
Regarding induction program which is conducted in the organization, 82% of the employees are
satisfied whereas 18% of the employees are not satisfied.
6. The induction of your organization covers organizational structure and policies?

Category No. of Employees ( in In Percentage
38
number )
4 10%
disagree
Induction
Agree
Disagree
INTERPRETATION:
Regarding induction of organization, 90% of the employees are satisfied and 10% of the
employees are not satisfied. It means that most of the employees are benefited.
TRAINING & DEVELOPMENT

7. For Employee, performance is the training need analyzed in your organization?
39
number )
10 24%
disagree
Employee Performance
Agree
Disagree
INTERPRETATION:
Regarding employee performance, 76% of employees are satisfied whereas 24% of employees
are not satisfied. It means that most of the employees get affected from this evaluation.
8. Are you satisfied with the Classroom method adopted by your organization to train the
employees?

number )
40
11 27%
disagree
Classroom Method
Aggree
Disagree
INTERPRETATION:
Regarding Classroom method, 73% of the employees are satisfied whereas 27% of the
employees are not satisfied. It means most of the employees get affected but some of the
employees want training and development programs to train employees.
9. Effectiveness of training program in your Organization is evaluated by observing the post

training performance of employees?

number )
No. of Employees who 13 32%
41
disagree
Effectiveness of Training Program
Agree
Disagree
INTERPRETATION:
Regarding effectiveness of training program, 68% of the employees are satisfied whereas 32% of
the employees are not satisfied. It means that some of the employees want that evaluation of
effectiveness of training program should be done with some other method.
PERFORMANCE APPRAISAL
10. Are you satisfied with the Balanced Scorecard method?

number )
3 8%
disagree
42
Balanced Score Card
Agree
Disagree
INTERPRETATION:
Regarding Balance scorecard method, 92% of the employees are satisfied whereas only 8% of
the employees are not satisfied. It means that most of the employees are benefited from this
evaluation method.
11. Are you satisfied with the feedback given to you by organization?

number )
11 28%
disagree
43
Feedback
Agree
Disagree
INTERPRETATION:
Regarding feedback 72% of the employees are satisfied whereas 28% of the employees are not
satisfied. It means that some of the employees get benefited but some are not.
CAREER PROGRRESSION
12. Are you satisfied with the mentor system followed for career progression?

number )
6 16%
disagree
44
Mentor System
Agree
Disagree
INTERPRETATION:
Regarding mentor system followed for

career progression, 84% of the employees get benefited and only 16% of the employees are
exempted.
13. Are you satisfied with the competence analysis and feedback from manager?

number )
9 22%
disagree
45
Competence Analysis & Feedback
Agree
Disagree
INTERPRETATION:
Regarding competence analysis and feedback from manager 78% of the employees are satisfied
whereas 22% are not satisfied. It means that some of the employees want feedback from other
source.
LEAVE POLICY
14. Are you satisfied with the privilege leave provided to you?

number )
7 17%
disagree
46
Privilege Leave
Agree
Disagree
INTERPRETATION:
Regarding privilege leave provided to employees, 83% of the employees are satisfied whereas
17% of the employees are not satisfied.
COMMUNICATION AND DECISION MAKING PROCESS

15. Are you satisfied with the informal communication pattern?

number )
5 13%
disagree
47
Informal Communication Pattern
Agree
Disagree
INTERPRETATION:
Regarding informal communication pattern, 87% of the employees are satisfied and 13% of the
employees are not satisfied. It means most of the employees are comfortable with this
communication process.
16. Are you satisfied with the opinion survey and Department meeting?

number )
10 24%
disagree
48
Opinion Survey & Department Meeting
Agree
Disagree
INTERPRETATION:
Regarding opinion survey and department meeting, 76% of the employees are satisfied and 24%
of the employees are not satisfied.
REWARDS & RECOGNITIONS

17. Are you satisfied with the monetary rewards?

number )
13 33%
disagree
49
Monetary Rewards
Agree
Disagree
INTERPRETATION:
Regarding monetary rewards, 67% of the employees are satisfied whereas 33% of the employees
are not satisfied. It means that some of the employees want to implement non-monetary rewards
in the organization.
ACCIDENT INSURANCE POLICY

18. Are you satisfied with contingencies cover under Personal Accident Insurance policy?

number )
10 24%
disagree
50
Contingencies
Agree
Disagree
INTERPRETATION:
Regarding contingencies provided under this policy, 76% of the employees are satisfied and 24%
of the employees are not satisfied.
MEDICLAIM POLICY
19. Are you satisfied with the services covered under Mediclaim policy?

number )
4 11%
disagree
51
Services
Agree
Disagree
INTERPRETATION:
Regarding services provided under Mediclaim policy, 89% of the employees are satisfied and
11% of the employees are not satisfied.
52
CHAPTER VI
FINDINGS & CONCLUSION
FINDINGS
From observation, face-to-face interview and multiple choice option based questionnaire some
general findings came up with which are as follows:
 Out of total 60 employees, 40 persons were selected for the purpose of study.
 Employees are found devoted to the company with very minor negativity.
 Employees receive different salary based on performance and designations.
 Employees are found regular, systematic and work-lover.
 Employees have full and whole-hearted respect and support for the management.
 Management seems to be resourceful and matured enough.
 Management helps/ greets/ pays and supports its employees.
 Management allows extra leave for the employees.
 Employees seem to be satisfied with the company with very minor negativity.
 Employees seem to be honored for working in this company.
53
 Employees are found self-respected and confident of their respective works.
 Employees are trained up to do all activities of the departments.
 Employees are found very much aware of company’s image and goodwill.
 Employees are department based. Very minor scope of transfer in other departments.
 Top management tries to be informed about all the employees through department heads
regularly.
 Salary, bonus, incentives are found very regular and in time.
 Employees are found feeling for the company.
 Employees are found appreciating of the work environment.
 Most of the employees want to continue with the company.
 Employees feel that work volume is not high in this company.
CONCLUSION
Study shows that,
 The Policy of the company provides facilities for all round growth of individuals by
training in-house and outside the organization, reorientation, lateral mobility and self-
development through self-motivation.
 The Policy grooms every individual to realize his potential in all facets while contributing
to attain higher organizational and personal goals.
 The Policy builds teams and foster team-work as the primary instrument in all activities.
 The Policy implements equitable, scientific and objective system of rewards, incentives
and control.
 The Policy recognizes worth contributions in time and appropriately, so as to maintain
a high level of employee motivation and morale.
 The employees agree on the part of their performance that they know what is expected
from them.
54
 The employees understand how their work goals relate to company’s goals.
 Company inspires the employees to do their best work every day.
 The employees are not satisfied with the communication and decision-making process as
it leaks the information related to organization.
 The employees do not receive the appropriate recognition and rewards for their
contributions and accomplishments.
 The employees feel that they are not paid fairly for the contributions they make to
company’s success.
55
CHAPTER VII
SUGGESTIONS &
RECOMMENDATIONS
SUGGESTIONS
 The Performance Appraisal of employee is evaluated on the basis of 360degree feedback or
180 degree feedback.
 The Organization should focus on mentor system intend to help employees in their
career progression.
 The Organization should conduct Psychometric tests for employees.
 The Training should be mandatory for all level of employees.
 The Departments should develop constructive attitude towards each other.
 The company should give the appropriate recognition for the contributions and
accomplishments made by employees. A flexible reward system should be adopted by
organization to improve employee motivation.
 A more transparent and full proof communication system developed in the organization.
 Replacing the lacuna in the current system.
56
 Wages and salary administration process should have a more scientific approach laying stress
on equal wages for equal work done.
RECOMMENDATIONS
 Management of organization should select good human being for employment. In this
context, educational, family and social background should be considered.
 Management should pay a competitive salary, bonus, and increment in time.
 Management should provide effective training to all its employees.
 Management should evaluate employees on merit, experience & efficiency basis.
 Management should be friendly, supportive & cooperative to its employees.
 Management should consider its employees as soul of the organization.
 Management should extend all its possible facilities to its employees.
 Management should follow chain of command strictly.
 Management should take action after full and through investigation.
 Management should not accept any unethical events.
 Management should organize events for interaction among the employees.
57
 Management should look after always the work environment for its betterment.
 Management should provide congenial and soothing work environment.
58
BIBLIOGRAPHY
 Armstrong, Michael. Handbook of Human Resource Management Practice. Kogan Page,

1999.
 "How to Develop Essential HR Policies and Procedures." HRMagazine. February 2005.
 Green, Paul C. Building Robust Competencies: Linking Human Resource Systems to
Organizational Strategies. Jossey-Bass, 1999.
 Johnston, John. "Time to Rebuild Human Resources." Business Quarterly. Winter 1996.
 Koch, Marianne J., and Rita Gunther McGrath. "Improving Labor Productivity: Human
Resource Management Policies Do Matter." Strategic Management Journal. May 1996.
 Mathis, Robert L., and John H. Jackson. Human Resource Management. Thomson South-
Western, 2005.
 Rossiter, Jill A. Human Resources: Mastering Your Small Business. Upstart Publishing,
1996.
59
 Ulrich, Dave. Delivering Results: A New Mandate for Human Resource Professionals.
Harvard Business School Press, 1998.
 U.S. Small Business Administration. Roberts, Gary, Gary Seldon, and Carlotta Roberts.
"Human Resources Management." n.d.
 DeCenzo, David A. and Robbins, Stephen P.(2007) Fundamentals of Human Resource
Management. London: Printhall Publication
 Dessler, Gary (2008). Human Resources Management. Essex: Prentice Hall.
 Embose Thomas J. (2001). Supervision (Managerial Skill for a New Era). New York:
Macmillan.
 Jacobs, C. A. (2005). Operation Management. Essex: Pearson Prentice Hall
 Koontz, W.(2002). Management. Essex: Pearson Prentice Hall
 Kotler, Philip (2004). Marketing Management. Essex: Pearson Prentice Hall
 Newstrom, John W. and Davis, Keith (2007). Organizational Behavior. Columbus:
McGraw-Hill-Irwin
 Sullivan, William R. (2007). Entrepreneur (Human Recourses For Small Business) New
York : Wiley
 Shawn, S. and Rebecca M. (2006). The HR Answer Book. New York: American
Management Association
 Szilagyi, (2002). Management & Performance. London: Oxford University Press.
60
ANNEXURE
RECRUITMENT & SELECTION

1. Are you satisfied with the external recruitment sources performed in your organization?
i) Agree ii) Disagree
2. Are you satisfied with the monetary reward given on bringing a candidate on board?
3. Are you satisfied with the background checks conduct for employees?
61
4. Are you satisfied with the monetary limits given to you for the expenses?
INDUCTION
5. The induction program of your organization is informal type?
6. The induction of your organization covers organizational structure and policies?
TRAINING & DEVELOPMENT

7. For Employee, performance is the training need analyzed in your organization?
8. Are you satisfied with the Classroom method adopted by your organization to train the
employees?
9. Effectiveness of training program in your Organization is evaluated by observing the post

training performance of employees?
PERFORMANCE APPRAISAL
10. Are you satisfied with the Balanced Scorecard method?
11. Are you satisfied with the feedback given to you by organization?
CAREER PROGRRESSION
12. Are you satisfied with the mentor system followed for career progression?
13. Are you satisfied with the competence analysis and feedback from manager?
62
LEAVE POLICY
14. Are you satisfied with the privilege leave provided to you?
COMMUNICATION AND DECISION MAKING PROCESS

15. Are you satisfied with the informal communication pattern?
16. Are you satisfied with the opinion survey and Department meeting?
REWARDS & RECOGNITIONS

17. Are you satisfied with the monetary rewards?
ACCIDENT INSURANCE POLICY

18. Are you satisfied with contingencies cover under Personal Accident Insurance policy?
MEDICLAIM POLICY
19. Are you satisfied with the services covered under Mediclaim policy?
63

HR Policies in Real Estate

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

HR Policies in Real Estate

Uploaded by

Copyright:

Available Formats

CHAPTER I

Subjects covered by Human Resource Policies

 Equal Employment Opportunity policies

 Performance evaluations and salary increases

Advantages of formal Human Resource Policies

 Communication with employees. A well written and thoughtfully presented human

Making changes to existing policies

HR Policies in Real Estate / Construction Company

Real Estate in Hyderabad

OBJECTIVE OF THE STUDY

NEED FOR THE STUDY

SCOPE OF THE STUDY

As most of the company’s overall performance depends on its employee’s

LIMITATIONS OF THE STUDY

REVIEW OF THE LITERATURE

According to Edwin B. Flippo, a ‘policy is a rule or pre-determined course of action established

Yoder observes, A policy is a pre-determined, selected course established as a guide towards

The main purpose of HR polices are;

 HR Rules & Regulations

 Consequences of Poor Human Resource Policies

The purpose of HR Policies and Procedures

Why Develop an HR policy?

 Documenting all organizational policies and procedures, rules, regulations,

 Defines management hr standards for making decisions on various organizational as well

Importance of HR Policies & Procedures

5. Helps employees receive adequate compensation.

6. Helps maintain discipline in the workplace.

7. Provide paid vacations and holidays to eligible employees.

How Do You Effectively Communicate HR Policies and Procedures to Employees?

Human Resource Management Policies:

Benefits of HR Policies & Procedures

 Recruitment and Employment:

 Compensation and Evaluation:

 Training and Development:

 Grounds For Termination:

 Hiring and Recruiting

 Agents and Procedures

 Evaluations and Support

Statement of the Problem

A schematic presentation of the sample design

Total Number of Employees of the

66% of the total employees = 40 persons

Total Sample Respondents = 40

Key Variables selected for the Study

Characteristics of each individual employee; weakness of employee to organization;

INDUSTRY & COMPANY PROFILE

Four Types of Real Estate

There are four types of real estate:

 Residential real estate includes both new construction and resale homes. The most

 Commercial real estate includes shopping centers and strip malls, medical and

 Industrial real estate includes manufacturing buildings and property, as well as

 Land includes vacant land, working farms, and ranches. The subcategories within vacant

How the Real Estate Industry Works

New home building is a critical category. It includes the construction of single-family homes,

Real Estate Investing

According to data released by Department of Industrial Policy and Promotion (DIPP),

 Iconic RK Studios property which is located in suburban Chembur, acquired by Godrej

Leaders and Founder of Aliens Group

 Managing Director/ Founder – Hari Challa

 Joint Managing Director - Venkat Challa

Awards & Recognitions of Aliens Group

Vision and Values of Aliens Group