An Internship REPORT ON

“A STUDY ON EMPOLYEE MOTIVATION”

At Kosamattam finance Pvt Ltd.

Internship Report submitted to Bengaluru City University in partial

fulfilment of requirement for the award of
Bachelor of Business Administration

Submitted by
Dhanush M
Reg. No: B1912208

INTERNAL GUIDE EXTERNAL GUIDE

Bibi Hajira Ravi
Assistant Professor (Manager)
Department of Commerce and Management Kosamattam finance Pvt
Ltd

INTERNATIONAL INSTITUTE OF BISINESS STUDIES

#75, Muthugadahalli, Bangalore North, Jala Hobli, Begur, Bengaluru,
Karnataka 562157
 An Internship REPORT ON
“A STUDY ON EMPOLYEE MOTIVATION”
At Kosamattam finance Pvt Ltd.

Internship Report submitted to Bengaluru City University in partial

fulfilment of requirement for the award of
Bachelor of Business Administration

Submitted by
Dhanush M
Reg. No: B1912208

Under the guidance of

Bibi Hajira
Assistant Professor
Department of Commerce and Management
M.com, NET, KSET

2021-2022
INTERNATIONAL INSTITUTE OF BUSINESS STUDIES
Muthugadahalli, Bangalore North, Jala Hobli, Bangalore- 562157.
 INTERNATIONAL INSTITUTE OF BUSINESS STUDIES
Muthugadahalli, Bangalore North, Jala Hobli, Bangalore- 562157.

CERTIFICATE BY THE INSTITUTION

This is to certify that DHANUSH M bearing Reg. No B1912208 student of BBA,

during the academic year 2021-2022 of this college, has successfully completed
his/her internship “Human resource F” Under the guidance of Asst Professor
Bibi Hajira.

This study has not formed for the basis for the award of any other degree/ diploma
by Bangalore City University or any other university.

Mrs. Bibi Hajira Dr. Tripuraneni Jaggaiah

HOD
Department of Commerce and Management PRINCIPAL
 GUIDE CERTIFICATE

This is to Certify that, this report “Human resource finance” is based on an

original study conducted by Dhanush M Bearing Reg. No B1912208 of final
year BBA under my guidance and supervision for the requirements of the
Bengaluru City University for the award of Degree in Bachelor of Business
Administration.
To the best of my knowledge and belief the matter presented in this report
is submitted for any Degree or Diploma of any University.

Place: Bangalore Bibi Hajira

Assistant Professor
Date: Department of Commerce and Management
 STUDENT DECLARATION

I hereby declare that this Internship report “Human resource finance”

Submitted for the degree of Bachelor of Management incorporating Internship
work done by me in the Department of Management, Bengaluru city university,
under the guidance of Bibi Hajira towards partial fulfilment in requirement of
the BBA course of Bengaluru City University, 2021 – 2022.
I further declare that this study has not been Submitted for Degree or
Diploma of any University.

Place: Bangaluru Dhanush M

Date: Reg no: B1912208
 ACKNOWLEDGEMENT

“Any study never an individual effort, it is the contributory efforts of

many highly motivated minds”
I take this opportunity to express my gratitude to all those who have
helped the in completing this report successfully.
I express my gratitude for extreme kindness in providing permission and
necessary for the successfully completion of this report. I also wish to express my
sincere Thanks to Dr. TRIPURANENI JAGGAIAH Principal,
INTERNATIONAL INSTITUTE OF BUSINESS STUDIES, Mrs Bibi
Hajira and other faculty members who helped in completing this project report.

I would be failing in my duty if I don’t extend my heart full thanks to the almighty
God and to all my friends and family members who extended their support to me
directly and indirectly to make this report a grand success.

Place: Bangaluru Dhanush M

Date: Reg.No: B1912208
 TABLE OF CONTENTS
Chapter Title Page
No. No.
1 COMPANY PROFILE
1.1 Kosamattam finance Pvt Ltd.
1.2 Vision and mission, Goals

1.3 Product and services profile 1-13

1.4 company compotators

1.5 SWOT Analysis

INTRODUCTION TO REWARDS SYSTEM

2.1 Objectives of a reward scheme
2.2 Evaluation and Monitoring of Implemented Reward
2 Strategy 14-17
2.3 Motivation and Reward Practice
2.4 Content Theory of Motivation and Reward
2.5 Total rewards components
3 Intern Experience Report 18-20
4 Review of internship 21-22
5 Recommendations and conclusion 23-25
 CHAPTER-1

1.1 COMPANY PROFILE

For over 150 years, Kosamattam has been revered for its unwavering dedication to brand
principles. The company has always held the view that wealth should be returned to the
people. The Kosamattam Group develops companies that expand through excellence and
innovation while balancing the interests of its customers, workers and civil society. The
group's work is based on strong principles and ethics. The Kosamattam brand has come to
respect all its clients based on excellence, entrepreneurship, highest ethical standards and
achievements of all the Kosamattam group companies.

An unlisted public company known as Kosamattam Finance Limited was incorporated on

March 25, 1987. It is headquartered in Kottayam, Kerala and is classified as a Public Limited
Company. The paid up capital of the company is Rs.216.88 crores and authorized capital is
Rs.550.00 crores.

For the financial year ended 31 March 2018, the operating income of Kosamattam Finance
Ltd was between INR 100 crore to INR 500 crore. Its earnings before interest, tax,
depreciation and amortization grew by 23.20 percent over the previous year. Net book value
also increased by 22.16 percent during this period. Here you can find other performance and
liquidity ratios.
1
Description: In India, Kosamattam Finance Limited is a non-bank financial company offering
a wide range of financial products and services.

Services and Products: The company offers a range of gold loans and gold backed personal
loans to small business customers and entrepreneurs.

Kosamattam Finance Limited is currently active.

As per our data, the last recorded Annual General Meeting of Kosamattam Finance Limited
was held on September 30, 2021. Additionally, as per our data, the most recent balance sheet
is generated for the time frame ending March 31, 2021.

Six persons including Mathew Kosamattam Cherian and Laila Mathew are directors of
Kosamattam Finance Limited.

Kosamattam Finance Limited Company Identification Number (CIN) is

U65929KL1987PLC004729. The registered office of Kosamattam Finance Limited is at
Kosamattam City Centre, 4th and 5th Floor, T.B Road, Kottayam, Kerala-686001, Kottayam,
Kottayam, Kerala.

We differentiate ourselves by balancing our own interests with those of our customers,
employees and the wider community through customer focus, innovation, entrepreneurship,
integrity and values-based business practices.

1.2 MISSION, VISION, AND GOALS

MISSION

Trust

We strongly believe that collaboration in all fields leads to great results. We believe shared
responsibility, accountability and mutual trust are the foundations of strong teams. We
operate as one company because we know we can better serve all of our customers by
working together.

Customer is King

We think it's crucial to treat each client, customer, and team member individually and to
regard each moment as important. We work diligently and passionately to go above and
beyond in order to provide. We support interpersonal relationships based on empathy and

2
comprehension. Every time we provide a service to a client, we think we are building a solid
foundation of trust for our company.

Responsibility

In our opinion integrity and systematic risk management are the cornerstones of our
organization. We understand the daily impact of our choices and actions on others. We
support making choices based on transparent, fair and participatory practice, responsible
citizenship and community development.

Power of our people

Our goal is to support our workers in realizing their full potential. We think that having a
range of experiences and perspectives makes us stronger. We appreciate our diversity in
philosophy, style, culture, ethnicity, and experience, and we respect one another as
individuals.

VISION

Be the most respected conglomerate, improving all stakeholders' wealth and the lifestyles of
all world citizens.

1.3 PRODUCT AND SERVICE PROFILE

Gold Loan

Kosamattam Finance is one of the largest gold loan companies in India, providing the best
answer to all your financial demands. The easiest option to receive money for personal or
corporate needs is through gold loans. Why choose personal or business loans when you have
the power of gold? Get quick gold loan with less paperwork from Kosamattam Finance, the
most reputed brand in the Indian gold loan sector. We promise to help you achieve your
ambitions, getting the lowest interest rate on your gold loan and the highest value on your
gold. Get a loan to buy your gold jewelery to meet your urgent needs. When your gold is safe
with us you can go ahead and take advantage of any opportunity. Use our gold loan calculator
to determine the loan amount you are eligible for on your gold holdings. We believe it is
important to treat each client, client and team member individually and consider every
moment that counts. We work hard and with passion to go above and beyond to deliver.

3
Kosamattam Finance has locations across the country, mostly in rural and semi-urban areas,
which serve as the foundation of the company. Kosamattam offers gold loans with
competitive interest rates, hassle-free paperwork and quick cash to all categories of people
including small business owners, entrepreneurs, farmers and shop owners.

In Kosamat, loans are handled instantly with minimal documentation, making life easier for
the average person. We guarantee big loans secured by your gold value in all our branches.
Skilled branch managers will quickly appraise your gold and the loan disbursement process
will take few minutes. Kosamattam Finance reminds its customers to pay their interest
promptly. Modern CCTV and theft detection systems are installed in every branch of
Kosamattam Finance and all are monitored regularly. Our branches are manned by a group of
enthusiastic young employees and experienced workers, most of whom are ex-bankers.

We stand out from the competition because of our simple documentation. We offer personal
and business loans backed by gold and jewellery. Even in times of competition, our
commitment to providing excellent customer service and our dedication to our customers
keep us ahead of the pack.

Forex Services

The best place to purchase and sell more than 15 different currencies under one roof is with
Kosamattam Finance's Forex services. We now trade in all major currencies and serve all
types of foreign travelers, including leisure travelers, students seeking or already pursuing
higher education abroad, patients seeking medical treatment abroad, and emigrants.
Kosamattam Finance is dedicated to offering consumers top-notch services, and our desire to
create cutting-edge technology is unmatched in the sector.

Money Transfer

India's top money transfer service Without having to wait in line, send your hard-earned
money to your bank account in a matter of seconds. Kosamattam Finance offers the ability to
send money in a matter of seconds using IMPS. With the help of Kosamattam Finance's
money transfer service, loved ones may send and receive money in any of our many branches
in a safe and simple manner.

Our consumers utilize our services to allow entrepreneurship or education, sustain themselves
financially, celebrate significant occasions, and receive money from family members

4
anywhere in the globe. Visit any of our 900 + branches near you with your government
issued identity card and the money transfer number sent by the sender and receive money
instantly or have it credited to your bank account for amounts greater than Rupees 50000.
Kosamattam finance associates with six of the major money transfer companies in the world.
So, our customers have a number of transfer companies to choose from. Along with our
trained and experienced branch executives.

Insurance

We all face unexpected events in life. Although we cannot always prevent these things from
happening, we can choose to put a little protection in our lives. Insurance is designed to
provide us with at least monetary protection in the event of a calamity. Many financial
experts advise us to keep these insurance policies and there are many insurance solutions
available. However, with the variety of alternatives, it can be difficult to decide which
insurance you really need. Your unique scenario will always determine which insurance to
buy. Children's interests, age, lifestyle and work should be considered while designing
insurance plans.

All our clients can avail a wide range of insurance options from Kosamattam Finance across
several major Indian institutions at very low rates. Whatever the need, we have the right
insurance to handle the situation. Our selection of insurance options is tailored to individual
client needs.

LIC of India

LIC Insurance ServicesKosamattam Finance is having Corporate Tie up with LIC of India to
sell all types Insurance Products of LIC. All our branches are designated to market LIC
products and customers can approach us for different types of insurance products. By
entering into corporate tie up with LIC of India, Kosamattam Finance is able to serve the
public to improve the insurance coverage, which is too low in our country.

Kosamattam Finance's customer Service Executives are well trained in LIC Products and are
capable of answering all your queries. So, walk in to our vast network of branches and get
your policy today.

5
Reliance Insurance

Reliance Insurance Services

Through our websites, you can get new and renewable insurance. We can assure you that
when transferring from another GIC to Reliance GIC, you will not lose your No Claim Bonus
benefit.

We strive to provide you with the best service at the lowest cost. So why spend your precious
time traveling long distances and standing in long lines to buy or renew a general insurance
policy? Stop by one of our branches to experience the difference.

Religare Health Insurance

Top Insurance Companies in IndiaKosamattam finance has united with Religare health
insurance to provide custom made health Insurance policy for its customers at very affordable
rates. Walk in to any of our branches and tale the best healthcare has to offer.

Depository Services

Demat Account

Kosamattam NCDKosamattam Finance offers its investors depository services. The investor
may benefit from holding assets in electronic form in a number of ways. Instantaneous
transfer of securities is ensured via demat. There is no TDS for securities housed in a
depository, which is still another benefit of having a demat account. Other hazards like loss,
theft, delays, etc. are fully eliminated. Securities are transferred through electronic book
entries in the depository system.

Ticketing

Airline Ticketing Services

Ticket buses ticketing service offered by Kosamattam Finance is the most popular service
among our customers. In all services including airline or bus tickets, we offer great customer
care at affordable prices. We offer the best prices of all airlines for domestic and international
travel. You can be sure you'll receive a great deal when you order tickets with us.

6
All services related to fast and efficient ticketing are provided to customers by Kosamattam
Finance. Tickets can be purchased at any of our locations. We cater to all ticketing
requirements and are an IATA approved airline ticketing agency. Ticketing services from
Kosamattam Finance are the first of the Indian agencies to be approved by the International
Air Transport Association (IATA).

Understanding the needs of travelers is very important. Our mission is to provide one to one
service using skilled teams at affordable prices.

SME Loans & Loan against Property

Home Loan Kosamattam

Since the introduction of SME/LAP Loans, Kosamattam Finance has effectively and steadily
established itself across the country's vast financial sector, serving our countless clients
through a network of over 900 locations. Our core services include SME financing for
working capital and growth, loans for all types of businesses, home improvement loans,
property-security loans, personal loans, working capital loans for urban self-employed, loans
to improve rural livelihoods, rural home loans. and group finance a variety of small rural
projects. You work hard to take advantage of every opportunity, although you often run out
of money. With a Loan for SMEs and Real Estate (LAP) from Kosamattam Finance, you can
pay off your property quickly and easily to realize your ambitions and make them a reality.

We at Kosamattam Finance believe that in a dynamic corporate environment, stability and

sustainability require lasting partnerships. For this reason, our experts are available to assist
in the development of your company at any stage of the business life cycle or in any other
endeavor that is important to you. They offer flexible and cost-effective solutions across
geographies. Our creative solutions take your stress away so you can focus on your business.

To understand how companies think, develop and operate, they need a company born and
raised in the financial industry. We leverage our existing branch network to offer innovative
ideas to keep your company ahead of the competition.

7
AREAS OF OPERATION

Fairness and responding to customers

In the early stages of achieving this goal, we've already removed hidden fees from all of our
loans, introduced easy-to-read loan agreements and are committed to increasing visibility of
industry-leading compliance data. We continue to strive to develop solutions that help
customers manage their financial choices by better understanding what they want and need.

Financial support for small and medium enterprises

Credit is critical to the Indian economy and SMEs. By increasing our lending to SMEs and
providing credit through various cutting-edge methods including overdraft programs and
online payment facilities, we are at the forefront of helping SMEs position themselves for
growth.

Affordable Home Loans and Mortgages

Most of the people's biggest investment is in the home. We recognize our responsibility to
provide consumers with knowledge about the home purchase loan options available to them,
clear explanations of how these functions work, and personalized support throughout the
process based on their unique circumstances. Our mortgage loan specialists are available to
help clients find a loan they can afford. They can offer you a wide variety of loan options.
Whether you are a first-time home buyer, a budget buyer, a seasoned home buyer, an affluent
buyer or a buyer with complex financial needs. To make the loan process more clear and
simple, our partners will communicate with you. A loan specialist at Kosamattam Finance
reviews your loan options, offers reasonable rates and advises on your case.

Organizational change

We were among the first to push for comprehensive regulatory change. We support a number
of measures taken to better protect consumers in the lending industry.

Putting money into the environment

Environmental sustainability remains a very important issue for us and the people we serve.
While we have the opportunity to use our corporate resources to help our customers, clients
and employees reduce their environmental impacts, we recognize the need to take action to
reduce our environmental footprint. Some of our offices use the energy generated by our
8
windmill project to offset electricity costs, helping the environment in any way we can. In
line with the growth of environmental opportunities in almost all corporate sectors, we are
expanding our operational scope.

INSFRASTRUCTURE FACILITIES

Kerala has a special priority for women like no other state in our country. The state boasts of
female literacy, low child marriages, low maternal mortality rates, etc. But even with these
positive attributes only ll3% of women choose entrepreneurship as their career. Women's
economic empowerment is one of the most promising areas of investment, largest emerging
markets and talent pools. It is a challenge for a woman to break stereotypes and run a
successful business. Regardless of gender, starting a business is a daunting prospect. Whether
you want to start a home-based business or aim for a full-fledged business, startup funding is
one of the most challenging aspects of being a female entrepreneur. Women entrepreneurs
need better access to finance and networks. Kosamattam Finance Limited (KFL) promotes
women entrepreneurship as part of its corporate social responsibility policy and strives to
create decent employment for women entrepreneurs, achieve women empowerment and
gender equality and eradicate poverty. KFL is pleased to invite application to provide start-up
funds to set up a home-based business to become a woman entrepreneur without any interest
burden and repayment. A woman who wants to become an entrepreneur can download the
application form from the website and fill it up and submit it to the corporate office of the
company within the stipulated date. The application form will be available on the website for
submission in person during working hours from 17'h July 2021 to 27th July 2021. Funds are
disbursed by the company after analysis and recommendation by the Corporate Social
Responsibility Committee. Company for selected applicants.

9
1.4 COMPANY COMPETITORS

1.Muthoot Finance

Muthoot Finance is one of the largest gold loan providers in India. It is known for its great
business reputation and has a wide network of 4,265 branches spread across 21 states and
four union territories. It is the most trusted name in gold financing. Customers can spend Rs.
A loan can be availed for the amount of the penalty. 1 crore in just 5 minutes. Here, the loan
application procedure is very simple and requires less paperwork. Interest rates start at
11.99%, with a maximum repayment period of 36 months that can be extended with
approval.

2. Manapuram Finance

Manappuram Gold is currently a well-known brand in the banking sector with over 3,200
locations across the country. It is known for being reliable and processing loans quickly.
Within 5 minutes, Manapuram authorizes and disburses gold loans. It is Rs. Offers a variety
of programs suitable for people of all income levels with a maximum loan limit. 1 crore. The
maximum repayment period is 12 months, but this can be extended with approval. The
interest rate is 12 percent.

3. Gold Union Loan

Union Gold Loan Programme, a program of Union Bank of India, focuses more on poor
farmers and those who need immediate money. Only gold jewelery and coins sold by banks
are eligible for loan. Currently 22 carat gold jewelery is priced at Rs. 1800 per gram of Union
Bank of India.The interest rates are based on MCLR and currently start at MCLR +2.65%.
Maximum loan amount is Rs. 20 lakhs.

4. SBI Gold Loan

The largest public sector bank in India, SBI has a large branch network. Customers can avail
loans from SBI with a maximum repayment period of 36 months. Rural farmers can also
benefit from SBI Gold Loan Programme. Customers creating new bank accounts should
follow the same procedure as those availing gold loans. Interest rates start from 7.50 percent,
where the highest loan amount offered is Rs. 20 lakhs.

10
5. Kotak Mahindra Gold Loan.

Kotak Mahindra 1 year, instant gold loan available for urgent needs. Depending on the
situation, the period may be extended. For gold loans, gold jewelery of 18 to 22 carat purity
and bank mined coins up to 50 grams per customer can be used as collateral. For new users,
the minimum loan amount is Rs. 20,000 and the maximum loan amount is Rs. 25 lakhs,
existing users Rs. Rs. 50 lakhs. Kotak Gold Loans have interest rates ranging from 10.50
percent p.a to 24% p.a.

6. ICICI Gold Loan

ICICI Bank recently introduced a gold loan program with attractive interest rates starting
from 10%. They guarantee a 30 minute approval process. In addition, a large financial
company has offered gold loans of Rs. 15 lakhs with a maximum repayment period of 12
months. It is the bank's responsibility to ensure that the gold is safe.

7. HDFC Gold Loan

Recently, many adjustments have been made in the HDFC Bank Sampurna Bharosa Gold
Loan Programme. HDFC Gold Loans are great for emergencies as they require less
paperwork and can be approved within 45 minutes. The processing fee is 1.50% and taxes
and interest rates start at 9.90% per annum. HDFC Gold minimum loan amount is Rs. 50000.

8. Axis Gold Loan

Axis Bank is a private sector bank that offers attractive and cheap gold loans to customers at
rates ranging from 13 percent per annum to Rs. Rs. 25 lakhs. Maximum repayment period
possible is 36 months. For special requests, Axis Bank offers gold loans with same day
disbursements. With the Gold Loan product, the bank ensures total excellence, transparency
and enhanced customer experience.

9. Gold loan from Central Bank of India

Central Bank customers can borrow up to 50 grams of gold each under the Cent Personal
Gold Loan programme. Maximum amount available as gold loan is Rs. 1,750 per gram or
70% of the market price for 22 carat gold. Interest rates on central bank gold loans start at
9.05 per cent per annum with a maximum repayment period of 12 months.

11
10. Gold loan from the Federal Reserve

Interest rates on the no-hassle loan option offered by the Federal Reserve start at 8.50
percent. Rs. Customers get instant gold loan with adjustable repayment terms up to 1.50 crore
rupees. It is a reliable alternative for customers looking for gold loan due to the absence of
hidden fees, minimum processing cost and affordability of guarantee.

1.5 SWOT ANALYSIS

STRENGTH

 Pan-India reach and branch network; high-quality customer service; robust operating
systems;
 Strong brand name, track record, management expertise, and promoter support;
market-leading position in the gold loan industry in India;
 Internal training resources to support branch growth needs
 Strong capacity for raising capital to support a highly profitable business model.
WEAKNESS

 Potential Inflation Hedge

 Low Long-Term Volatility
 Portfolio Diversification

OPPORTUNITIES

 Continue to focus on new consumer categories.

 To preserve market position, expand branch network and visibility.
 Access to affordable and varied sources of funding;
 Improved operational procedures and risk management systems;
THREATS

 Cost
 Storage Issues

12
  High Short-Term Volatility
 Taxes

FUTURE GROWTH AND PROSPECTS

Kosamattam was founded on the tenets of credibility, dependability, and trust. We have been
there and always will be with a clear insight and straightness that will satisfy your every
desire, much as the stars that create the straight line on Orion's Belt in a clear night sky. We
are always in style and striving for advancement because of the intense demand to change
and the many different requirements of the populace.

13
 CHAPTER-2

INTRODUCTION TO REWARDS SYSTEM

A broad definition of reward schemes is provided by Bratton:

‘Reward system refers to all the monetary, non-monetary and psychological payments that an
organisation provides for its employees in exchange for the work they perform.’
Rewards schemes may include extrinsic and intrinsic rewards. Extrinsic rewards are items
such as financial payments and working conditions that the employee receives as part of the
job. Intrinsic rewards relate to satisfaction that is derived from actually performing the job
such as personal fulfilment, and a sense of contributing something to society. Many people
who work for charities, for example, work for much lower salaries than they might achieve if
they worked for commercial organisations. In doing so, they are exchanging extrinsic rewards
for the intrinsic reward of doing something that they believe is good for society.

2.1 Objectives of a reward scheme

What do organisations hope to achieve from a reward scheme? The following are among the
most important objectives:

1. To support the goals of the organisation by aligning the goals of employees with
these.

2. To ensure that the organisation is able to recruit and retain sufficient number of
employees with the right skills.

3. To motivate employees.

4. To align the risk preferences of managers and employees with those of the
organisation.

5. To comply with legal regulations.

6. To be ethical.

7. To be affordable and easy to administer.

14
 2.2 Evaluation and Monitoring of Implemented Reward Strategy
After implementing the reward strategy, through number of ways effectiveness of
implemented reward strategy is assessed and evaluated. Armstrong (2010) puts forward
number of suggestions to assess and evaluate the reward strategy as follows:
 A reward review should be done through gathering and researching from qualitative and
quantitative information on the reward practices inside the organization.
 By using this information the effectiveness of the delivery of reward goals from various
reward practices should be assessed.
 The time to time audit should be performed in order to evaluate the effectiveness of the
reward investment.
 Through reward surveys, employees could be asked and analysed in order to monitor the
effectiveness of the implemented reward strategy.

2.3 Motivation and Reward Practice

One cannot separate the process of motivation and the reward practices. It is very essential to
comprehend those factors which motivate the employees and it would be recommendable for
the organizations to design their reward strategies and practices in the light of those factors in
order to increase performance of employees throughout the organization. Practical guidance
is provided by the motivation theories in developing the reward systems. The theories of
motivation tell that what factors exactly encourages individual, or group of employees to
adopt something behaviour or to do something differently. These factors guide the human
15
behaviour and could affect their efforts to do something (Armstrong, 2007). So, designing
reward practices in the light of motivating factors could be very beneficial and effective.
Process Theory of Motivation and Reward
Porter & Lawler (1968) modified Vroom’s Expectancy Theory (1964) as cited in Morris &
Vascular (2005:8) expectancy theory of behaviour. Bartol and Locke (2000, p. 111) as cited
in Morris & Vascular (2005:8) state that expectancy theory “…holds that people make
choices based on (1) their expectancy that their efforts will lead to a certain 8 level of
performance, (2) their belief that their performance will lead to valued outcomes
(instrumentality) and (3) the degree of value they place on those outcomes (valence).”
Expectancy theory underpins best fit thinking because it provides a design framework so that
each element of a reward system can be used to the element’s best advantage. Lawler’s
(1995) as cited in Morris & Vascular (2005) new pay model provides guidance on what
behaviours to measure. They must be linked to organisational strategy. However, Lawler
(1981, p. 22)as cited in Morris & Vascular (2005:8) emphasises in an earlier work, the
importance of the implementation process when he states: “In order for employees to believe
that a performance-based pay relationship exists, the connection between performance and
rewards must be visible, and a climate of trust and credibility must exist in the organization.”
The measurement of performance is a critical characteristic of ‘new pay’. Armstrong (2002)
as cited in Morris & Vascular (2005) emphasises the need for a robust performance
management process. Schuster and Zingheim (1992, p. 210) as cited in Morris & Vascular
(2005:8), states “measurement is the core of new variable pay because it provides the
justification for sharing performance improvements with employees.

2.4 Content Theory of Motivation and Reward

Best practice advocates rely on content theories of motivation as the basis of their reward
systems. Herzberg (2003, p. 91) as cited in Morris & Vascular (2005:8) found ‘…that the
factors involved in producing job satisfaction (and motivation) are distinct form the factors
that lead to job dissatisfaction.’ Motivators, the source of job satisfaction, are intrinsic to the
job including ‘achievement, recognition for achievement, the work itself, responsibility and
growth or advancement.’ (Herzberg, 2003, p. 92) as cited in Morris & Vascular (2005:8)
Hygiene factor, including salary, are extrinsic to the job and are a potential source of job
dissatisfaction.

16
2.5 Total rewards components

17
 CHAPTER-3

I have got the opportunity to work in Kosamattam Finance Pvt Ltd. as an intern for four
weeks from May 13 2022 to June 10 2022; it's a part of my academic program. As my
specialization is Human Resource Management, I worked in Human resource department as
an intern where I had learnt several Human Resource practices of Kosamattam Finance Pvt
Ltd.
Description of the job
I had the opportunity to have four weeks long internship at Kosamattam Finance Pvt Ltd. I
have come across with different tasks that are conduct by the HR department. I was
introduced to the jobs of an HR personnel, there were different types of jobs I was made
acquainted with some were regular others were periodical. I was assigned to the following
jobs regularly.
Those were-
 Collecting Bio data
 Screening Bio data
 Setting Interview & training date
 Calling For Interview
 Making Interview Lists

18
  Creating Employee Profile
 Collecting Bio data
 Organizing data files
 Data entry etc.

Collecting Bio data

For the recruitment of employees CVs are collected from outlets online sites and apps mostly but
applicants can also drop their CVs in the CV box at the office, and for others positions the CVs are
collected through the website and the CV box at the office.

As I have worked mostly in the recruitment Associates, it was my job to email the outlets and ask
them to send the CVs to Human Resource Department. And also ask the Office Assistant to collect
the CVs from the CV box.

Screening Bio data

As the organization is looking for more number of of employees, we received CVs in large quantity.
There were few areas are to be considered while screening the CVs, these were age, education and
location. For example a candidate has to be 18 years old or above to apply for job. For Associates
and responsible position the candidate has to be a graduate student and possess MS excel, Word
and Tally skills.

Setting Interview date

After Screening the CVs and classified them in to different categories, we were to fix the interview
date for different branch's and inform the respective resource persons about the interview. And
with the interview I was to fix the training date for the selected candidates. To do this I had to
consult with the Training personnel about the training batches and find out the empty slots for
Training and finalize the interview and training batch for the employees.

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Calling for Interview

After screening the CVs and separate them based on their location, it was my job to email the
candidates for interview and inform them about the interview date, time and venue. The interviews
were held in the office. After the interview I had to call the selected candidates.

Making Interview Lists

While mailing the candidates I had to give serial number to their CVs. after that it was my job to
prepare an interview list which contained name of the applicant, father's name of the applicant,
educational qualification, address and contact number, there were few columns left empty for
applicants signature, selected, not selected and remarks. At the bottom of the list name of the
Human resource officer and the concerned department manager who were taking the interview,
were included.

Creating Employee Profile

The HR department of Kosamattam Finance Pvt Ltd keeps record of their employees both manual
and digitalised form. I learned to prepare files for new employees. Every new employee is assigned a
PIN for their identification. The employee file contains employees joining letter, employees CV,
photocopy of employee's educational certificates, reference letter.

Employee Joining

When a new employee joins I performed required tasks for joining. The tasks include all necessary
signatures and filling.

Leave Processing

Leave processing includes receiving leave applications and inputting to software.

Apart from these specific jobs, I also observed other jobs performed by other team mates. Here I
observed,

 Recruitment and selection process

 Payroll
 Policy formulation
 Training and Development Grievance handling etc.

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 CHAPTER-4

Review of internship and ways to improve internship program

Internships programs have proven to be one of the most valuable resources for companies searching
for ideal employees. Internships give companies the opportunity to take a closer look at the people
they could potentially hire in the future. It serves as an extended interview and allows employers to
observe the work ethic, the knowledge, the skill set, and the attitude of a potential employee. It’s
one of the best ways to find new team members, grow your business, and reach your goals as a
company. Internships allow you to have a fresh set of eyes on current company problems and
projects.

Internships help both the company and student. An internship is a great introduction to an industry
or a role you may want to pursue. Internships are typically arranged through an educational
counsellor who can help match you to a company that fits your career goals.

Some of the ways that can improve internship programs

Straight Line with the Students

Focus on communicating and having a direct line to the students. One of the best ways that
companies do this is by connecting and leveraging the managers of different departments. Work
closely with Career Services to make sure that students know when you’re on campus. Make your
message clear and known. If you are looking for interns or have opportunities available, make it easy

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and award students to reach out to you. Make sure all types of communication paths are open and
students can get information from you quickly.

Grow to Know Your Interns

Before any work begins, take the time to sit down with each of your interns and learn more about
them. Find out why they are here, what their career goals are, and what they hope to achieve during
their time with your company. This will help you understand their motives and give you a better idea
of how to help them during the internship. This is also a great opportunity for you to set
expectations with them.

Expressive Work

Give your interns the opportunity to do work that matters and work that contributes to the bottom
line. Have them work on real projects, real problems, and deal with real issues of company. They will
get more out of their time with your company if they do meaningful work and have the chance to
further develop and apply their current skills. In fact, recent studies show that 84% of students said
that the opportunity to apply developed job-specific skills was highly important. You will get to see
first-hand how interns would solve real problems within your company and who knows, they might
see something you didn’t before.

Focus on the Development Side

The question you need to be asking yourself is: how are you developing people to become full-time
employees? An internship is a 3-month opportunity to learn about these students, teach them, and
shape them into the employees that you want. Focus on developing your interns; it plays a huge role
on the employee they will go on to become.

Keeping Interns Engaged

Make sure your interns are engaged the whole time they are working for you. Keep them involved,
make them feel valued, and make it worth your time investment. Don’t just give them busy work
and close the door. Have a plan for different projects with clear objectives in mind. Put them in the
heart of the company and let them participate in all the ins and outs. An engaged intern will always
do a better job and produce better results for you.

Giving Feedback

Remember that these interns are at your company to learn and extend their knowledge. The best
way for them to achieve that is by receiving structured feedback from you. Be honest, be
constructive, and focus on helping them get better. Interns are looking for feedback. They are there
to learn from real professionals within the industry.

Stay Connected

Stay connected with interns after they leave. If you felt that they were a good fit for the company,
let them know about upcoming opportunities and new job openings. Keep relationships open and
make sure they know there is always an open door. This could potentially be a future employee.
Treat them like they are already apart of the work family

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 CHAPTER- 5

RECOMMENDATIONS

According to my work in Kosamattam Finance Pvt Ltd, I have identified some sectors where
some development can happen; here are those,
1. Training and Development issue:
More intensive training program should be introduced to increase the employee performance
to the optimum level. The HR policy could include certain provisions regarding to a
reutilized and modern training.
2. HR counselling cell:
In this system, the employer-employee relationship can increase. Here, to authorized HR
personal, all employees will come and will tell their problems. HR personal will then take
necessary steps.
3. Continuous modernization and revision:
Modernization and revision of the HR policies and strategies are indispensable for any
organization as the world is getting more diversified day by day. The head of HR should
continuously monitor the changes happening around and adjust the policies to match the
changed scenario.

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4. Company culture :
Creating a strong company culture is the core responsibility of HR. Each company has its
own unique company culture, such as equality, innovation and so on. A strong company
culture creates a sense of belonging for employees, giving them a feeling of “identity” or
“home.”
5. Evaluate what training is essential, and execute it well:
Evaluating key areas and the need for training is mandatory. It’s also helpful for saving on
abundant training costs involved with the workforce. The execution of the training and
development is a necessity because of its impact on the involvement of change management
in the business processes.

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 CONCLUSION

An unlisted public company known as Kosamattam Finance Limited was incorporated on

March 25, 1987. It is headquartered in Kottayam, Kerala and is classified as a Public Limited
Company. The paid up capital of the company is Rs.216.88 crores and authorized capital is
Rs.550.00 crores.

I did my internship for three weeks to full fill my university internship training requirement. I
played as Human resource intern in Kosamattam Finance Pvt Ltd. I learnt a lot of think by
having the internship training it was as pioneer steps for the next steps in my life. . Actually
nowadays practical experience much needed than theoretical base studies. I spent around
three weeks at the company for my internship training the training gave to me such
opportunity to enhance my knowledge and skills with the practical business environment

From the above discussion it can conclude such a way that since human resource
management is a continuously practicing issue so it plays a significant role on organizations
overall performance. If an organization wants to gain full benefit from human resource
management it should follow all the sections of HRM. As a small AMC few persons are
recruited for its operations and performances. But it will expand soon or later and then the
number of HR employee may not be enough to run the company. Committed and trustworthy
employees are the most significant factors to becoming an employer of choice, it is no
surprise that companies and organizations face significant challenges in developing energized
and engaged workforces. However, there is abundance of research to demonstrate 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. Thus, the objective of every company
should be to improve the desire of employees to stay in the relationship they have with the
company.

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