A Study on

IMPACT OF COMPENSATION MANAGEMENT ON EMPLOYEE PRODUCTIVITY

WITH REFERNCE TO TATA MOTORS FINANCE LIMITED

is submitted in partial fulfillment of the requirement for the award of the Degree of master
of business administration
to

JAWAHARLAL NEHRU TECHNOLOGICAL UNIVERSITY,

ANANTHAPURAMU
by
KAJANA VINEETH
(19711E0036)

Under the Guidance of

Dr.T.SUDHEER, MBA,UGCNET,APSET,MA(CON),Ph.D
Admin HOD&Assoc.Professor

Department ofMBA

NARAYANA ENGINEERING COLLEGE::NELLORE

(2019-2021)
 DECLARATION
I Kajana Vineeth, a student of Master of Business
Administration of Narayana Engineering College, Nellore here by declare that the project
titledIMPACT OF COMPENSATION MANAGEMENT ON EMPLOYEE
PRODUCTIVITYWith
reference to TATA MOTORS FINANCE LIMITED is an original work done by me under the
guidance and supervision of Dr. T.SUDHEER, MBA,UGCNET,APSET,MA(CON),Ph.D, HOD MBA
department, Narayana Engineering College, Nellore

Further, I declare that this project work is the result of my own effort and has not been submitted
earlier to any institution or university for the award of any degree or diploma.

Kajana Vineeth
(19711E0036)
 Department of MBA

CERTIFICATE

This is to certify that the project report entitled “IMPACT OF COMPENSATION

MANAGEMENT ON EMPLOYEE PRODUCTIVITY” being submitted by Kajana
Vineeth, (19711E0036) in partial fulfillment for the award of the Degree of Master of
Business Administration to the Jawaharlal Nehru Technological University Ananthapuramu
is a record of bonafied work carried out by her under my guidance and supervision.
The results embodied in this project report have not been submitted to any other
University or Institute for the award of any Degree or Diploma.

Dr.T.Sudheer,MBA,UGCNET,APSET,MA(CON),Ph.D Dr.R.Vani,M.Com,MBA,PGDFM,Ph.d
AdminHOD&Assoc.Professor HEAD &Professor
Departmentof MBA Department ofMBA
EXTERNAL EXAMINER
 ACKNOWLEDGEMENT

We are extremely grateful to Dr.P. NARAYANA, Ph.D.Founder, Narayana

Educational Institutions, Andhra Pradesh for the kind blessings. We are extremely thankful
to Mr R Sambasiva Rao B.Tech, Registrar Narayana Engineering College, Nellore.
We are much obliged to Dr. A.V.S Prasad, Ph.D. Director, Narayana Engineering
& Pharmacy Colleges, for the continuous encouragement and support. We owe indebtedness
to our Principal Dr.G. Srinivasulu Reddy,M.Tech., Ph.D., Narayana Engineering College,
Nellore for providing us the required facilities.
We express our deep sense of gratitude and sincere thanks to Dr.Gangineni
Dhananjhay, B.Tech,MBA,Ph.D,FDP(IIM-A), NSE Certified Market Professional (Level
5), Professor & DEAN, Department of MBA, Narayana Engineering College, Nellore for
providing the necessary facilities and encouragement towards the project work.
We express our deep sense of gratitude and sincere thanks to Dr.
R.Vani.M.Com,MBA.PGDFM.Ph.D, Professor & HOD, Department of MBA, Narayana
Engineering College, Nellore for providing the necessary facilities and encouragement
towards the project work.
We express our deep sense of gratitude and sincere thanks to Dr. T. Sudheer, MBA,
Ph.D, MA(Eco), UGC-NET, APSET, Admin HOD&Assoc. Professor, Department of MBA,
Narayana Engineering College, Nellore for encouragement towards the project work.
We thank our project guide Dr. T. Sudheer, MBA, Ph.D, MA(Eco), UGC-NET,
APSET, Admin HOD&Assoc. Professor, Department of MBA for her guidance, valuable
suggestions and support in the completion of the project.
We gratefully acknowledge and express our thanks to teaching and non-teaching staff
of MBA Department. We would like to express our love and affection to our parents for their
encouragement throughout this project.

Kajana Vineeth
(19711E0036)
 Contents

S.NO CONTENTS PAGENO

CHAPTER-I INTRODUCTION 1-6

INDUSTRYPROFILE 7-12

COMPANYPROFILE 13-33

CHAPTER-II OBJECTIVESOFTHESTUDY 34
NEEDFORTHESTUDY 35

SCOPEOFTHESTUDY 36

LIMITATIONOFTHESTUDY 37

RESEARCHMETHODOLOGY 38

CHAPTER-III THEORETICALFRAMEWORK 42-57

CHAPTER-IV DATAANALYSIS&INTERPRETATIONS 58-68

CHAPTER-V FINDINGS,SUGGESTIONS&CONCLUSION 69-72

BIBLOGRAPHY 73

QUESTIONNAIRES 74
 LISTOFTABLES

TableNo TableName PageNo

1 Service Duration of 58-59
employees
2 Monthly Constant and Fixed 59-60
Salary
3 Salaries and wages paid on 60-62
Fixed date or not
4 Sufficient salaries for 62-63
retention
5 Remuneration to Employee 63-64
Output
6 Indirect Financial 64-65
Compensation impact
7 Benefits administered fairly 65-66
on competence
8 Non-Financial compensation 66-67
offered at Tata motors
Finance Limited
9 Employee Recognition to 67-68
Employee Productivity
10 Employee Relationship on 69
Productivity
11 Impact of employee 70-71
involvement in total strategy
 LISTOFGraphs/Chart

GraphNo GraphName PageNo

1 Service Duration of 59
Employees
2 Monthly Constant on 60
fixed Salary
3 Salaries and Wages paid 61
on Fixed date or not
4 Sufficient Salaries for 62
Retention
5 Remunerationto 63
EmployeeOutput
6 Indirect Financial 64
Compensation Impact

7 Benefits administered on 65
fairly competence
8 Non-financial 66
Compensation offered at
Tata motors Finance
limited
9 Employee Recognition to 67
Employee Productivity
10 Employee Relationship 68
on Productivity
11 Impact of employee 69
Involvement in total
strategy
INTRODUCTION

The term compensation represents the exchange between employees and organization, both
gives something in return for something else. In the past, the compensation issues were
often confidential and govern by individual employer’s preferences and choices. However
in today’s competitive world the compensation policies are more transparent and the
employees take their own choices based on the compensation package. Thus, balancing the
cost of compensation and retaining the employees have become the most important priority
for theorganization.

Compensation

The compensation is a substitute word of wages and salaries and it has recently originated.
The literature of wages and salaries’ are enormous but it considers the issues from a legal
viewpoint. However, wages have now become very significant as a cost factor.

Compensation is the remuneration received by an employee in returns of their contribution

to the organization. The compensation management is an organized practice which is
important for balancing the work and employee relationship by providing monetary and
non-monetary compensation to employees. Compensation includes all form of pay given
to the employees which arise from the employment. The one of the strapping feature of the
organizations is compensation management and they used it to attract and retain the most
important and worthy assets. The compensation management is considered to be a complex
process which requires accuracy and precision and if not carried out properly may lead to
employees’ dissatisfaction. An ideal compensation policy motivates the employees to work
harder and with more determination. It also helps the organizations to set the standards for
job that it is related,realisticandmeasurable.Compensation policies should have a sound
integration with practices of HRM. One of the key functions of compensation management
of any company is to create a hearty competition among the employees in order to attain
9
more efficiently and provide growth opportunities to its employees.

Definition of Compensation

According to Cascio (1995) the “Compensation includes direct cash payments and indirect
payments in form of employees benefits and incentives to motivate employees to strive for
higher levels of productivity”.

According to Milkovitch and Newman (2005) the “Compensation is all forms of financial
returns, tangible services and benefits employees receive as part of an employment
relationship.” The phrase “financial returns” refers to an individual's base salary, as well
as short- and long-term incentives. “Tangible services and benefits” are such things as
insurance, paid vacation and sick days, pension plans, and employee discounts.

Compensation is the remuneration awarded to an employee in exchange for their services

or individual contributions to your business. The contributions can be their time,
knowledge, skills, abilities and commitment to your company or a project.

In simpler words, compensation is the money received by an employee from an employer

as a salary or wages.

Principles of Compensation Formulation

There are following seven principles of Compensation Formulation (Jain, 2014):

10
i. The organization should have a unambiguous plan to determine differential pay
levels in terms of different job requirements involving varied skills, exertion, responsibility
and workingconditions.

ii. An attempt should be made to keep the common level of wages and salaries of the
organization in line with that obtained in the labormarket.

iii. Adequate attention should be taken to distinguish people from the jobs. Although
people are paid in terms of rate embodied in specific jobs, some exceptions should be
allowed in the cases of professional and executive personnel by paying them in terms of
their abilities andcontributions.

iv. The care should be taken irrespective of individual considerations to ensure that
equal pay for equalwork.

v. There should be a plan to adapt an unbiased measure for identifying individual

differences in capacity and contribution in the form of rate ranges within the grade
increments, wages incentive schemes and a system of jobpromotion.

vi. There should be proper procedure for handling the wage grievances in organization.

vii. Adequate care should be taken to inform the employees and the union, if any, about
the procedure followed in determining wage rates. There were no confidential wages and
the employees should have a clear understanding of their wage or salary structure. This
will enhance employee satisfaction with wages. There are certain guiding principles which
provide the foundation for effective rewardmanagement.

Components of Compensation

The components of a compensation system include (hr-guide, 2014):

11
Job Descriptions

The job description is the written responsibilities, functions, duties, requirements,

conditions, environment, location and other facets of jobs.

Job Analysis

The process of analyzing the job is job analysis and job descriptions are also developed
from it. Job analysis techniques include the use of interviews, questionnaires, and
observation.

Job Evaluation

It is a process of comparing jobs for the determining adequate compensation for individual
jobs or job elements.

Pay Structures

The pay structure includes the several grades and each grade containing a minimum salary,
increments and grade range.

Salary Surveys

It is a collection of survey of salary and market data and also includes inflation indicators,
average salaries, cost of living indicators, salary budget averages. Companies may
purchase results of surveys conducted by survey vendors or may conduct their own salary
surveys.

Policies and Regulations

Compensation is supposed to be as fair if it is contained the system of components to

develop and maintain internal and external equity in organization.

12
Types of Compensation

Compensation doesn’t mean only paycheck, although that’s part of it. Compensation
comprises of a number of different elements that may be cash and non-cash payments.

Here’s a list of some of the most common and commonly overlooked types of
compensation:

• Base pay (hourly or salarywages)

• Commissions
• Overtime Pay, shift differentials and longevitypay
• Bonus
• Profit Sharingdistributions
• Merit Pay orrecognition
• Incentive plan or achievementaward
• Tip income
• Benefits including Dental, insurance, medical, vacation, leaves, retirement,etc.
• Stockoptions
• Travel/Meal/Housing Allowance
• Child care and tuitionassistance
• Gym memberships and freelunches
• Employee assistance programs that provide counseling, legal advice, and other
services.
• Health and wellnessbenefits
• Other non-cashbenefits

Difference between Base Pay and Total Compensation

Base pay is just one part of your employees’ total compensation and defined as the initial
pay received by an employee before taxes and other deduction.

13
Bonuses, overtime, tips, commissions, and other types of compensation mentioned above
are not part of base pay but come under total compensation.

INDUSTRY PROFILE

Introduction

India became the fourth largest auto market in 2019 displacing Germany with about 3.99
million units sold in the passenger and commercial vehicles categories. India is expected
to displace Japan as the third largest auto market by 2021.

The two wheeler segment dominates the market in terms of volume owing to a growing
middle class and a young population. Moreover, the growing interest of the companies in
exploring the rural markets further aided the growth of the sector.

India is also a prominent auto exporter and has strong export growth expectations for the
near future. In addition, several initiatives by the Government of India and major
automobile players in the Indian market are expected to make India a leader in the two-
wheeler and four-wheeler market in the world by 2020.

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Market Size

Domestic automobiles production increased at 2.36% CAGR between FY16-20 with

26.36 million vehicles being manufactured in the country in FY20. Overall, domestic
automobiles sales increased at 1.29% CAGR between FY16-FY20 with 21.55 million
vehicles being sold in FY20.

Two wheelers and passenger vehicles dominate the domestic Indian auto market. Passenger
car sales are dominated by small and mid-sized cars. Two wheelers and passenger cars
accounted for 80.8% and 12.9% market share, respectively, accounting for a combined sale
of over 20.1 million vehicles in FY20.

Passenger vehicle (PV) sales stood at 3,10,294 units in October 2020, compared with
2,71,737 units in October 2019, registering a 14.19% growth. As per the Federation of
Automobile Dealers Associations (FADA), PV sales in November 2020 stood at 2,91,001
units, compared with 2,79,365 units in November 2019, registering a 4.17% growth.

Overall, automobile export reached 4.77 million vehicles in FY20, growing at a CAGR of
6.94% during FY16-FY20. Two wheelers made up 73.9% of the vehicles exported,
followed by passenger vehicles at 14.2%, three wheelers at 10.5% and commercial vehicles
at 1.3%.

EV sales, excluding E-rickshaws, in India witnessed a growth of 20% and reached 1.56
lakh units in FY20 driven by two wheelers.

Premium motorbike sales in India recorded seven-fold jump in domestic sales, reaching
13,982 units during April-September 2019. The sale of luxury cars stood between 15,000
to 17,000 in the first six months of 2019.

Investments

In order to keep up with the growing demand, several auto makers have started investing
heavily in various segments of the industry during the last few months. The industry has

15
attracted Foreign Direct Investment (FDI) worth US$ 24.53 billion between April 2000
and June 2020, according to the data released by Department for Promotion of Industry
and Internal Trade (DPIIT).

Some of the recent/planned investments and developments in the automobile sector in India
are as follows:

• In November 2020, Mercedes Benz partnered with the State Bank of India to
provide attractive interest rates, while expanding customer base by reaching out to
potential HNI customers of thebank.

• Hyundai Motor India invested ~Rs. 3,500 crore (US$ 500 million) in FY20, with an
eye to gain the market share. This investment is a part of Rs. 7,000 crore (US$ 993
million) commitment made by the company to the Tamil Nadu government in 2019.

• In October 2020, Kinetic Green, an electric vehicles manufacturer, announced plan

to set up a manufacturing facility for electric golf carts besides a battery swapping
unit in Andhra Pradesh. The two projects involving setting up a manufacturing
facility for electric golf carts and a battery swapping unit will entail an investment
of Rs. 1,750 crore (US$ 236.27million).

• In October 2020, Japan Bank for International Cooperation (JBIC) agreed to provide
US$ 1 billion (Rs. 7,400 crore) to SBI (State Bank of India) for funding the
manufacturing and sales business of suppliers and dealers of Japanese automobile
manufacturers and providing auto loans for the purchase of Japanese automobiles
inIndia.

• In October 2020, MG Motors announced its interest in investing Rs. 1,000 crore
(US$ 135.3 million) to launch new models and expand operations in spite of the
anti-China sentiments.

16
• In October 2020, Ultraviolette Automotive, a manufacturer of electric motorcycle
in India, raised a disclosed amount in a series B investment from GoFrugal
Technologies, a softwarecompany.

• In September 2020, Toyota Kirloskar Motors announced investments of more than

Rs 2,000 crore (US$ 272.81 million) in India directed towards electric components
and technology for domestic customers andexports.

• During early September 2020, Mahindra & Mahindra singed a MoU with Israel-
based REE Automotive to collaborate and develop commercial electricvehicles.

• In April 2020, TVS Motor Company bought UK’s iconic sporting motorcycle brand,
Norton, for a sum of about Rs. 153 crore (US$ 21.89 million), making its entry into
the top end (above 850cc) segment of the superbikemarket.

• In March 2020, Lithium Urban Technologies partnered with renewable energy

solutions provider, Fourth Partner Energy, to build charging infrastructure across
the country.

• In January 2020, Tata AutoComp Systems, the auto-components arm of Tata Group
entered a joint venture with Beijing-based Prestolite Electric to enter the electric
vehicle (EV) componentsmarket.

• In December 2019, Force Motors planned to invest Rs. 600 crore (US$ 85.85
million) to develop two new models over the next twoyears.

• In December 2019, Morris Garages (MG), a British automobile brand, announced

plans to invest an additional Rs. 3,000 crore (US$ 429.25 million) inIndia.

• Audi India planned to launch nine all-new models including Sedans and SUVs along
with futuristic E-tron EV by end of2019.

• MG Motor India planned to launch MG ZS EV electric SUV in early 2020 and have
plans to launch affordable EV in the next 3-4years.

17
 • BYD-Olectra, Tata Motors and Ashok Leyland will supply 5,500 electric buses for
different statedepartments.

Government Initiatives

The Government of India encourages foreign investment in the automobile sector and has
allowed 100% foreign direct investment (FDI) under the automatic route.

Some of the recent initiatives taken by the Government of India are -

• Under Union Budget 2019-20, the Government announced to provide additional

income tax deduction of Rs. 1.5 lakh (US$ 2,146) on the interest paid on the loans
taken to purchaseEVs.

• The Government aims to develop India as a global manufacturing centre and a

Research and Development (R&D)hub.

• Under NATRiP, the Government of India is planning to set up R&D centres at a

total cost of US$ 388.5 million to enable the industry to be on par with global
standards.

• The Ministry of Heavy Industries, Government of India has shortlisted 11 cities in

the country for introduction of EVs in their public transport systems under the
FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles in
India) scheme. The Government will also set up incubation centre for start-ups
working in the EVsspace.

• In February 2019, the Government of India approved FAME-II scheme with a fund
requirement of Rs. 10,000 crore (US$ 1.39 billion) forFY20-22.

18
Achievements

Following are the achievements of the Government in the last four years:

• In H12019, automobile manufacturers invested US$ 501 million in India’s auto-

tech start-ups according to Ventureintelligence.

• Investment flow into EV start-ups in 2019 (till end of November) increased nearly
170% to reach US$ 397million.

• On 29thJuly 2019, Inter-ministerial panel sanctioned 5,645 electric buses for 65

cities.

• NATRiP’s proposal for “Grant-In-Aid for test facility infrastructure for EV

performance Certification from NATRIP Implementation Society” under the FAME
Scheme was approved by Project Implementation and Sanctioning Committee
(PISC) on 3rd January2019.

• Under NATRiP, following testing and research centres have been established in the
country since2015.

o International Centre for Automotive Technology (ICAT),Manesar.

o National Institute for Automotive Inspection, Maintenance & Training

(NIAIMT),Silchar.

o National Automotive Testing Tracks (NATRAX),Indore.

o Automotive Research Association of India (ARAI),Pune.

o Global Automotive Research Centre (GARC),Chennai.

• SAMARTH Udyog - Industry 4.0 centres: ‘Demo cum experience’ centres are being
set up in the country for promoting smart and advancedmanufacturing

19
 helping SMEs to implement Industry 4.0 (automation and data exchange in
manufacturing technology).

Road Ahead

The automobile industry is supported by various factors such as availability of skilled

labour at low cost, robust R&D centres, and low-cost steel production. The industry also
provides great opportunities for investment and direct and indirect employment to skilled
and unskilled labour.

Indian automotive industry (including component manufacturing) is expected to reach Rs.

16.16-18.18 trillion (US$ 251.4-282.8 billion) by2026.

20
COMPANY PROFILE

INTRODUCING TATA MOTORS

Tata Motors Limited (TML), a $42 billion organization, is India’s largest automobile
company and is a leading global manufacturer of cars, utility vehicles, buses, trucks and
defence vehicles. Incorporated in India in the year 1945, Tata Motors is a part of theover
$100 billion Tata Group founded by Jamsetji Tata in 1868. Recognized for its world-class
quality, originality, engineering and design excellence, the Company is on the path of
shaping the future of mobility in India. Sustainability and the spirit of ‘giving back to
society’ is our guiding philosophy and good corporate citizenship is strongly embedded in
ourDNA.

With a large global footprint, the Company has consolidated its position as the Tata Motors
Group through mergers and acquisitions. It has a network of 76 subsidiaries in India and
internationally, which provide a host of engineering and automotive solutions.

Some of the world’s most iconic brands, including Jaguar Land Rover in the UK and Tata
Daewoo in South Korea form part of the automotive operations of the Group.

Tata Motors Limited is

an Indian multinational automotive manufacturing company headquarteredin Mumbai,

Maharashtra, India. It is a part of Tata Group, an Indian conglomerate. Its products include
passenger cars, trucks, vans, coaches, buses, sports cars, construction equipment and
military vehicles.

21
Formerly it was known as Tata Engineering and Locomotive Company (TELCO). Tata
Motors has auto manufacturing and vehicle plants
in Jamshedpur, Pantnagar, Lucknow, Sanand, Dharwad, and Pune in India, as well as in
Argentina, South Africa, Great Britain, and Thailand. It has research and development
centres in Pune, Jamshedpur, Lucknow, and Dharwad, India and South Korea,Great
Britain, and Spain. Tata Motors' principal subsidiaries purchased the English premium car
maker Jaguar Land Rover (the maker of Jaguar and Land Rover cars) and the South Korean
commercial vehicle manufacturer Tata Daewoo. Tata Motors has a bus- manufacturing
joint venture with Marcopolo S.A. (Tata Marcopolo), a construction- equipment
manufacturing joint venture with Hitachi (Tata Hitachi ConstructionMachinery), and a
joint venture with Fiat Chrysler which manufactures automotive components and Fiat
Chrysler and Tata brandedvehicles.

Founded in 1945 as a manufacturer of locomotives, the company manufactured its first

commercial vehicle in 1954 in collaboration with Daimler-Benz AG, which ended in 1969.
Tata Motors entered the passenger vehicle market in 1988 with the launch of the Tata
Mobile followed by the Tata Sierra in 1991, becoming the first Indian manufacturer to
achieve the capability of developing a competitive indigenous automobile. In 1998, Tata
launched the first fully indigenous Indian passenger car, the Indica,and in 2008
launched the Tata Nano, the world's cheapest car. Tata Motors acquired the South Korean
truck manufacturer Daewoo Commercial VehiclesCompany in 2004 and purchased
Jaguar Land Rover from Ford in2008.

Tata Motors is listed on the BSE (Bombay Stock Exchange), where it is a constituent of
the BSE SENSEX index, the National Stock Exchange of India, and the New York
StockExchange. The company is ranked 265th on the Fortune Global 500 list of the world's
biggest corporations as of 2019.

On 17 January 2017, Natarajan Chandrasekaran was appointed chairman of the company

Tata Group. Tata Motors increases its UV market share to over 8% inFY2019.

22
History

Tata Sierra (1991-2000)

Tata Motors was founded in 1945, as a locomotive manufacturer. Tata Group entered the
commercial vehicle sector in 1954 after forming a joint venture with Daimler-Benz of
Germany. After years of dominating the commercial vehicle market in India, Tata Motors
entered the passenger vehicle market in 1991 by launching the Tata Sierra, a sport utility
vehicle based on the Tata Mobile platform. Tata subsequently launched the TataEstate
(1992; a station wagon design based on the earlier Tata Mobile), the TataSumo (1994,
a 5-door SUV) and the Tata Safari(1998).

Tata launched the Indica in 1998, a fully indigenous Indian passenger car tailor-made to
suit Indian consumer needs though styled by I.D.E.A, Italy. Although initially criticized by
auto analysts, its excellent fuel economy, powerful engine, and an aggressive marketing
strategy made it one of the best-selling cars in the history of the Indian automobile
industries. A newer version of the car, named Indica V2, was a major improvement over
the previous version and quickly became a mass favourite. Tata Motors also successfully
exported large numbers of the car to South Africa. The success of the Indica played a key
role in the growth of TataMotors.

In 2004, Tata Motors acquired Daewoo's South Korea-based truck manufacturing unit,
Daewoo Commercial Vehicles Company, later renamed Tata Daewoo

23
On 27 September 2004, Ratan Tata, the Chairman of Tata Motors, rang the opening bell at
the New York Stock Exchange to mark the listing of Tata Motors.

Tata Sumo (1994–2019)

In 2005, Tata Motors acquired a 21% controlling stake in the Spanish bus and coach
manufacturer Hispano Carrocera. Tata Motors continued its market area expansion through
the introduction of new products such as buses (Starbus and Globus jointly developed with
subsidiary Hispano Carrocera) and trucks (Novus, jointly developed with subsidiary Tata
Daewoo).

In 2006, Tata formed a joint venture with the Brazil-based Marcopolo, Tata MarcopoloBus,
to manufacture fully built buses and coaches.

In 2008, Tata Motors acquired the English car maker Jaguar Land Rover, manufacturer of
the Jaguar and Land Rover from Ford Motor Company.

In May 2009, Tata unveiled the Tata World Truck range jointly developed with Tata
Daewoo; the range went on sale in South Korea, South Africa, the SAARC countries, and
the Middle East at the end of 2009.

Tata acquired full ownership of Hispano Carrocera in 2009. In 2009, its Lucknow plant
was awarded the "Best of All" Rajiv Gandhi National Quality Award

24
In 2010, Tata Motors acquired an 80% stake in the Italian design and engineering company
Trilix for €1.85 million. The acquisition formed part of the company's plan to enhance its
styling and design capabilities.

In 2012, Tata Motors announced it would invest around 6 billion in the development of
Futuristic Infantry Combat Vehicles in collaboration with DRDO.

In 2013, Tata Motors announced it will sell in India, the first vehicle in the world to run on
compressed air (engines designed by the French company MDI) and dubbed "Mini CAT".

In 2014, Tata Motors introduced first Truck Racing championship in India "T1 Prima
Truck Racing Championship".

On 26 January 2014, the Managing Director Karl Slym was found dead. He fell from the
22nd floor to the fourth floor of the Shangri-La Hotel in Bangkok, where he was to attend
a meeting of Tata Motors Thailand.

Tata Indica (first generation).

On 2 November 2015, Tata Motors announced Lionel Messi as global brand ambassador
at New Delhi, to promote and endorse passenger vehicles globally.

On 27 December 2016, Tata Motors announced the Bollywood actor

AkshayKumar as brand ambassador for its commercial vehiclesrange.

On 8 March 2017, Tata Motors announced that it has signed a memorandum of

understanding with Volkswagen to develop vehicles for India's domestic market.

25
On 3 May 2018, Tata Motors announced that it sold its aerospace and defence business to
another Tata Group Entity, Tata Advanced Systems, to unlock their fullpotential.

On 29 April 2019, Tata Motors announced a partnership with NirmaUniversity in

Ahmadabad to provide a B.Tech. Degree programme for employees of its Sanandplant.

Tata Bolt

Operations

Tata Motors has vehicle assembly operations in India, Great Britain, South Korea,
Thailand, Spain, and South Africa. It plans to establish plants in Turkey, Indonesia, and
Eastern Europe.

Tata Motors Cars

Tata Motors Cars is a division of Tata Motors which produces passenger cars under the
Tata Motors marque. Tata Motors is among the top four passenger vehicle brands in India
with products in the compact, midsize car, and utility vehicle segments. The company's
manufacturing base in India is spread across Jamshedpur (Jharkhand), Pune (Maharashtra),
Lucknow (Uttar Pradesh), Pantnagar (Uttarakhand), Dharwad (Karnataka) and Sanand
(Gujarat). Tata's dealership, sales, service, and spare parts network comprises over 3,500
touch points. Tata Motors has more than 250 dealerships in more than 195

26
cities across 27 states and four Union Territories of India. It has the third-largest sales and
service network after Maruti Suzuki and Hyundai.

Tata also has franchisee/joint venture assembly operations in Kenya, Bangladesh, Ukraine,
Russia, and Senegal. Tata has dealerships in 26 countries across 4 continents. Tata is
present in many countries, it has managed to create a large consumer base in the Indian
Subcontinent, namely India, Bangladesh, Bhutan, Sri Lanka and Nepal. Tata is also
present in Italy, Spain, Poland, Romania, Turkey, Chile, South Africa, Oman, Kuwait,
Qatar, Saudi Arabia, United Arab Emirates, Bahrain, Iraq, Syria andAustralia.

TataDaewoo

Tata Daewoo (officially Tata Daewoo Commercial Vehicle Company and formerly
Daewoo Commercial Vehicle Company) is a commercial vehicle manufacturer
headquartered in Gunsan, Jeollabuk-do South Korea, and a wholly owned subsidiary of
Tata Motors. It is the second-largest heavy commercial vehicle manufacturer in South
Korea and was acquired by Tata Motors in 2004. The principal reasons behind the
acquisition were to reduce Tata's dependence on the Indian commercial vehicle market
(which was responsible for around 94% of its sales in the MHCV segment and around 84%
in the light commercial vehicle segment) and expand its product portfolio by leveraging on
Daewoo's strengths in the heavy-tonnage sector.

Tata Motors has jointly worked with Tata Daewoo to develop trucks such as Novus and
World Truck and buses including GloBus and StarBus. In 2012, Tata began developing a
new line to manufacture competitive and fuel-efficient commercial vehicles to face the
competition posed by the entry of international brands such as Mercedes-Benz, Volvo, and
Navistar into the Indian market.

27
Tata LPT Trucks made at overseas plants

Tata Hispano

Tata Hispano Motors Carrocera, S.A. was a bus and coach manufacturer based in Zaragoza,
Aragon, Spain, and a wholly owned subsidiary of Tata Motors. Tata Hispano has plants in
Zaragoza, Spain, and Casablanca, Morocco. Tata Motors first acquired a 21% stake in
Hispano Carrocera SA in 2005, and purchased the remaining 79% for an undisclosed sum
in 2009, making it a fully owned subsidiary, subsequently renamed Tata Hispano. In 2013,
Tata Hispano ceased production at its Zaragoza plant.

28
Jaguar LandRover

Range Rover(L405)

Jaguar Land Rover PLC is a British premium automaker headquartered in

Whitley,Coventry, United Kingdom, and has been a wholly owned subsidiary of Tata
Motors since June 2008, when it was acquired from Ford Motor Company of USA. Its
principal activity is the development, manufacture and sale of Jaguar luxury and sports
cars and Land Rover premium four-wheel-drivevehicles.

Jaguar Land Rover has two design centres and three assembly plants in the United
Kingdom. Under Tata ownership, Jaguar Land Rover has launched new vehicles including
the Range Rover Evoque, Jaguar F-Type, the Jaguar XE, the Jaguar XJ (X351), the second-
generation Range Rover Sport,and Jaguar XF,the fourth-generation LandRover Discovery,
Range Rover Velar and the Range Rover(L405).

JD Power, of the US, rates Land Rover and Jaguar as the two worse brands for initial
quality. The Jaguar F-Pace made Consumer Reports February 2019 list of the 10 Least
Reliable Cars. The editors cited "electronics, drive system, power equipment, noises and
leaks" as problematic aspects. The Jaguar Land Rover subsidiary was struggling by 2019
and Tata Motors wrote down its investment in JLR by $3.9 billion. Much of the financial
problem was due to a 50% drop in sales in China during 2019, although the situation was
improving. Still, Tata was open to considering a partnership with another company
according to a statement in mid-October, as long as the partnership agreement would
29
allow Tata to maintain control of the business. The company ruled out the possibility of a
sale of JLR to anotherentity.

Land Rover DiscoverySport

TML Drivelines

TML Drivelines Ltd. is a wholly owned subsidiary of Tata Motors engaged in the
manufacture of gearboxes and axles for heavy and medium commercial vehicles. It has
production facilities at Jamshedpur and Lucknow. TML Forge division is also a recent
acquisition of TML Drivelines. TML Drivelines was formed through the merger of HV
Transmission and HV Axles.

Tata Technologies

Tata Technologies Limited (TTL) is a 43%-owned subsidiary of Tata Motors which

provides design, engineering, and business process outsourcing services to the automotive
industry. It is headquartered in Pune's Hinjewadi business district and also has operations
in London, Detroit and Thailand. Its clients include Ford, GeneralMotors, Honda,
andToyota.

The British engineering and design services company Incat International, which specializes
in engineering and design services and product lifecycle management in the automotive,
aerospace, and engineering sectors, is a wholly owned subsidiary of TTL. It was acquired
by TTL in August 2005 for 4 billion.

30
In 2017, TAL, a subsidiary of Tata Motors, manufactured India’s first industrial articulated
robot for micro, small, and medium enterprises.

European Technical Centre

The Tata Motors European Technical Centre (TMETC) is an automotive design,

engineering, and research company based at Warwick Manufacturing Group (WMG) on
the campus of the University of Warwick in Great Britain. It was established in 2005 and
is a wholly owned subsidiary of Tata Motors. It was the joint developer of the World Truck.

In September 2013, it was announced that a new National Automotive InnovationCampus

would be built at WMG at Warwick's main campus at a cost of £100 million. The
initiative will be a partnership between Tata Motors, the university, and Jaguar Land Rover,
with £30 million in funding coming from TataMotors.

Joint ventures

Tata Marcopolo

Tata Marcopolo is a bus-manufacturing joint venture between Tata Motors (51%) and the
Brazil-based Marcopolo S.A. (49%). The joint venture manufactures and assembles fully
built buses and coaches targeted at developing mass rapid transportation systems. It uses
technology and expertise in chassis and aggregates from Tata Motors, and know-how in
processes and systems for bodybuilding and bus body design from Marcopolo. Tata
Marcopolo has launched a low-floor city bus which is widely used by transport
corporations in many Indian cities. Its manufacturing facility is based in Dharwad,
Karnataka State, India.

Tata Motors is expected to buy the 49% stake held by its partner Marcopolo in the bus-
making joint venture for100 crore by February 2021. The subsidiary will continue with the
‘Marcopolo’ trademark for a minimum of three years with a non-compete provision in
India for a correspondingperiod.

31
A Tata Marcopolo bus in use in Chandigarh, India

Fiat-Tata

Fiat-Tata is an India-based joint venture between Tata and Fiat Automobiles which
produces Fiat and Tata branded passenger cars, as well as engines and transmissions. Tata
Motors has gained access to Fiat's diesel engine and transmission technology through the
jointventure.

The two companies formerly also had a distribution joint venture through which Fiat
products were sold in India through joint Tata-Fiat dealerships. This distribution
arrangement was ended in March 2013; Fiats have since been distributed in India by
FiatAutomobiles India Limited, a wholly owned subsidiary of Fiat.

Tata Hitachi Construction Machinery

Tata Hitachi Construction Machinery is a joint venture between Tata Motors and
Hitachi which manufactures excavators and other construction equipment It was previously
known as Telcon ConstructionSolutions.

32
Tata Motors European Technical Centre

The TATA Motors European Technical Centre is an automotive design, engineering, and
research company Company based at Warwick Manufacturing Group (WMG) on the
campus of the University of Warwick in Great Britain. It was established in 2005 and is
wholly owned subsidiary of Tata Motors. It was the joint developer of the World TruckIn
September 2013 it was announced that a new National Automotive Innovative Campus
would be built at WMG at Warwick's main campus at a cost of 92 million pounds. The
initiative will be a partnership between Tata Motors, the University, and Jaguar Land
Rover, with the 30 million pounds in funding coming from Tata Motors.

Hyundai-Tata

Tata Motors and Hyundai are in a joint venture to provide the transmission for
TataHarriermodel.

Tata Motors

Proposed an overhaul of armored fighting vehicles and infantry main combat vehicles in
2015. The inter-ministerial committee was chaired by Secretary in the Department of
Industrial Policy and Promotion (DIPP) approved most of the proposals from the defense
manufacturing sector in India.

Tata Motors has entered its 75th year in 2020 with a rich legacy in contributing to the
nation. It is building a sustainable future by providing inspirational, innovative mobility
solutions for a Connected India. This intent will be represented as the theme at the Tata
Motors'pavilion.

Electricvehicles

Tata Motors has unveiled electric versions of the Tata Indica passenger car powered by
TM4 electric motors and inverters, as well as the Tata Ace commercial vehicle, both of
which run on lithium batteries.

33
In 2008 Tata Motors' UK subsidiary, Tata Motors European Technical Centre, bought a
50.3% holding in electric vehicle technology firm Miljøbil Greenland/Innovasjon of
Norway for US$1.93 million, and planned to launch the electric Indica hatchback in Europe
the following year. In September 2010, Tata Motors presented four CNG–Electric Hybrid
low-floored Starbuses to the Delhi Transport Corporation, to be used during the 2010
Commonwealth Games. These were the first environmentally friendly buses to be used for
public transportation inIndia.

In December 2019, Tata Motors unveiled the Nexon EV, an SUV with a 30.2KWh lithium-
ion battery and a consistent range of 312 km on a single charge. It is also equipped with
fast charging technology, which can charge the vehicle from 0% - 80% in 60 minutes. List
of Tata electricvehicles:

• Tata NexonEV

• Tata TigorEV

• Tata AltrozEV

Notable vehicles

Tata Nano

The Nano was launched in 2009 as a city car intended to appeal as an affordable alternative
to the section of the Indian populace that is primarily the owner of motorcycles and has not
bought their first car. Initially priced at 100,000 (US$1,500), the vehicle attracted a lot of
attention for its relatively low price. However, the Nano was very poorly rated for safety
and in 2018, Cyrus Mistry, chairman of the Tata Group, called the Tata Nano a failed
project, with production ending in May2018.

34
Tata Nano is often cited as the world's most affordable car

Tata Ace

Tata Ace, India's first indigenously developed sub-one-ton minitruck,was launched in May
2005. The minitruck was a huge success in India with auto analysts claiming that Ace had
changed the dynamics of the light commercial vehicle (LCV) market in the country by
creating a new market segment termed the small commercial vehicle segment. Ace rapidly
emerged as the first choice for transporters and single truck owners for city and rural
transport.

By October 2005, LCV sales of Tata Motors had grown by 36.6% to 28,537 units due to
the rising demand for Ace. The Ace was built with a load body produced by Autoline
Industries.

By 2005, Autoline was producing 300 load bodies per day for Tata Motors. Ace is still a
top seller for TML with 500,000 units sold by June 2010. n 2011, Tata Motors invested Rs
1000 crore in Dharwad Plant, Karnataka, with the capacity of 90,000 units annually and
launched two models of 0.5-T capacity as Tata Ace Zip, Magic Iris. Ace has also been
exported to several Asian, European, South American, and African countries and all-
electric models are sold through Polaris Industries' Global Electric Motorcars division. In
Sri Lanka, it is sold through Diesel and Motor Engineering (DIMO) PLC under the name
of DIMOBatta.

35
Tata Super Ace

Tata Prima

Tata Prima is a range of heavy trucks first introduced in 2008 as the company's 'global'
truck. Tata Prima was the winner of the 'Commercial Vehicle of the Year' at the Apollo
Commercial Vehicles Awards, 2010 and 2012

A Tata Prima 4928.S in Assam, India

Tata 407

The Tata 407 is a light commercial vehicle (LCV) that has sold over 500,000 units since
its launch in 1986. In India, this vehicle dominates market share of the LCV category,
accounting for close to 75% of LCV sales.

Tata Harrier

36
Tata Harrier is a 5-seater SUV set to rival the Hyundai Creta and Jeep Compass. This car
uses the engine from Fiat and transmission from Hyundai.It is derived from the H5X
Concept displayed at the 2018 Auto Expo. It was launched on 23 January 2019.

The car is a C-segment crossover SUV based on the Omega Arc platform, an essentially
re-engineered version of the Jaguar Land Rover D8 platform. A petrol variant of the Harrier
is confirmed to launch in 2021.

TataHarrier

Board of Directors

Mr Ratan N. Tata

Chairman Emeritus

Mr Tata was the Chairman of Tata Sons Private Limited from 1991 till his retirement in
December 2012. He also chaired the Boards of major operating Tata companies and the
Tata Trusts. Under his stewardship, various group restructuring initiatives were undertaken
to leverage global opportunities for the Tata group, the salt-to-software conglomerate,
growing revenues and profitability by over 40 times. He was on the Company’s Board for
more than three decades from 1981 till his retirement, and was Chairman during the last 24
years. He is the Chairman of the Tata Trusts, which are among India’s oldest, non-sectarian
philanthropic organizations that work in several areas of community development. He also
chairs the Council of Management of Tata Institute

37
of Fundamental Research and is a trustee of Cornell University and University of Southern
California.

Mr. Natarajan Chandrasekaran

Chairman & Non-Executive Director

Mr. Chandrasekaran is the Chairman of the Board of Tata Sons Private Limited, the holding
company of the Tata group. His appointment as Chairman followed a 30-year business
career at Tata Consultancy Services, which he joined from university rising through the
ranks to become the Chief Executive Officer (CEO) and Managing Director. He was
appointed as a Director on the Board of the Reserve Bank of India in 2016 and on the
International Advisory Council of Singapore’s Economic Development Board in 2018. He
is also the Co-Chair of the India US-CEOForum.

Mr. Nasser Munjee

Non-Executive, Independent Director

Mr. Munjee is on the Boards of various multinational companies and trusts. He is a

Technical Advisor on the World Bank’s Public-Private Partnership Infrastructure and
Advisory Fund, and the Chairman of Development Credit Bank (DCB). He has served

38
with HDFC Bank for over 20 years, across various positions. He was the Managing
Director of Infrastructure Development Finance Co. Ltd. (IDFC).

He holds graduate and post-graduate degrees from the London School of Economics.

Mr. O P Bhatt

Non-Executive, Independent Director

Mr. Bhatt is on the Boards of several companies, including Standard Chartered Bank, Tata
Consultancy Services, Tata Steel and Hindustan Unilever. He was the Chairman of the
State Bank Group. Besides chairing the Indian Banks' Association, he has served as the
Indian diplomat on the India-US CEO Forum, Indo-French CEO Forum and Indo- Russia
CEOForum.

He was the National Science Talent Search Scholar in Physics at DAV College, Dehradun,
and holds a post-graduate degree in English Literature from Meerut University.

Ms Hanne Sorensen

39
Non-Executive, Independent Director

Ms Sorensen, a Danish national, is on the Boards and Committees of various international

companies. She was engaged in various roles within the A.P. Moller– Maersk A/S Group
in Denmark between 1994 and 2016, serving as the CEO of Damco, the CEO of Maersk
Tankers, and Senior Vice-President and Chief Commercial Officer of MaerskLine.

She is a post-graduate in Economics and Management from the University of Aarhus.

Mr. Vinesh K Jairath

Non-Executive, Independent Director

Mr. Jairath has served in several important positions with the Government of India and the
State Government of Maharashtra. He has over 25 years’ experience in public
administration, rural development, infrastructure, finance, industry environmental
management and the private sector, as part of the Indian AdministrativeService.

He is a post-graduate in Economics from the University of Manchester.

Tata motors awards & achievements in 2020:

Tata Motors wins the prestigious 'Corporate Platinum' Award Tata Motors wins 'Golden
Peacock Award' for Corporate Social Responsibility. Tata Motors CVBU Pune wins
National Energy Award. Tata Motors – Jamshedpur wins 'Energy Efficient Unit
Award'. Tata Motors wins the first CSIR Diamond Jubilee TechnologyAward.

40
Vision, Mission and Values

Vision

To be globally significant in each of our chosen businesses by 2025.

Mission

To be the most reliable global network for customers and suppliers, that delivers value
through products and services. To be a responsible value creator for all our stakeholders.

Values

Pioneering:

We will be bold and agile, courageously taking on challenges, using deep customer
insight to develop innovative solutions.

Integrity:

We will be fair, honest, transparent and ethical in our conduct; everything we do must
stand the test of public scrutiny.

Excellence:

We will be passionate about achieving the highest standards of quality, always promoting
meritocracy.

Unity:

We will invest in our people and partners, enable continuous learning, and build caring
and collaborative relationships based on trust and mutual respect.

Responsibility:

We will integrate environmental and social principles in our businesses, ensuring that
what comes from the people goes back to the people many times over.

41
OBJECTIVES OF THE STUDY

Objective will be to establish the effects of compensation on employee productivity

• To examine the effects of direct financial compensation on employee productivity

at TATA Motorsfinance limited at DargamittaNellore.

• To assess the effects of indirect financial compensation on employee productivity

at TATA Motors finance Limited at Dargamitta Nellore.

• To establish the effects of non-financial compensation on employee productivityat

TATA Motors Finance Limited at DargamittaNellore.

• To establish the effects of total reward at TATA Motors Finance Limited at

Dargamitta Nellore.

42
NEED FOR THE STUDY

Compensation is one of the most important aspects for employee management. Having a
good compensation plan can help organizations to flourish and compete in their respective
markets.

• To Attracts employees toptalent

• To Increases employee motivation at theworkplace

• To Boosts employeeloyalty

• To Increases productivity andprofitability

• To Improves job satisfaction and employeeengagement

• To Helps in retaining topemployee

43
SCOPE OF THE STUDY

The study will explore the effects of compensation on employee efficiency, a case study of
TATA Motors. The population targeted will be 30 employees that will include the
Management Staff, Support Staff.

44
LIMITATION OF THE STUDY

Data collection for the study is limited in some cases as per below.

Lack of Cooperation

Access to Information: It was difficult to access information with regard to productivity

Strategies by organizations.

Unavailability of employees/ may not be genuine information

All employees may not reveal actual opinions due to some other reasons.

45
RESEARCH

METHODOLOGYSOURCES OF DATA:

The data is being used in study was collected from two methods.
• Primarydata
• Secondarydata

PRIMARY DATA:

The primary data do not exist already bin recorded and publications. The research has no
gather primary data a fresh for specific survey.

The primary data can be gathered by way by of observation method where the research
mix with the people concerned with the various welfare schemes and note important closes
by observing the respondent.

The second method of collection of primary data is by way of conducting survey and
personnel Interviews.

In the project the primary data is collected through questionnaire using survey and
Interview method.

SECONDARY DATA:

The secondary data refers to their data which were gathered for some other purpose and
are already available in the firms internal and business magazines, government publication,
company website, broachers.

46
In this project the secondary data are collected through company internal records,
company website and company broachers.

SAMPLE DESIGN:

INTRODUCTION:
The precision and accuracy of the survey results are affected by the manner to which the
sample has been chosen.

SAMPLE:
A part of population, which is providing by some process or other, usually by deliberate
selection with the object of investigating the properties of the population set.

SAMPLING UNIT:
The sampling unit is the basing unit containing the elements of the target population.

SAMPLING SIZE:
The numbers of samples chosen for target population is 10 management staff and 20
workmen and total is 30.

CONVENIENCE SAMPLING
Convenience sampling refers to the non-probability process by which a scientist
gathers statistical data from the population. This form of selection is done based on the
ease of gaining the statistical data. Rather than gathering a more accurate array of data from
the population, the researcher simply gathers data from people nearby. Aresearcher

47
might go to a nearby mall, or street corner to gather data. This form of data collection works
for some areas of study, but researcher bias may result in inaccurate data.

When is it used?
It can be used in any field of research, including psychology, sociology, and political
science, as well as in biological fields of study, when attempting to assess trends in human
development or to gain a better understanding of changes in biology. Often times this type
of sampling is used by researchers who wish to quickly show a trend and gain funding for
a larger, more comprehensive sampling that reflects a more accurate range of data. It is
also used for preliminary studies, as well as for research that doesn’t can be represented in
a smaller portion of the population, such as averaging the frequency of certain eye colors.

The Importance of Convenience Sampling

Often, researchers are realistically unable to accurate receive a random sampling of
the population. For example, businesses may not be able to give out information on their
employees for a sociologist to study and select, but may allow them to come in and poll as
many of their employees as possible. This method of sampling allows for the researcher to
gather data even when facing obstacles. By analyzing the data, they can extrapolate trends
and compensate for some of the lack in theirdata.

SAMPLING PROCEDURE:

1. Define populationprecisely.
2. Select the correct samplesize.
3. Identify the population size whether it is finite orinfinite.

48
 Here the researcher follows the probability (random sampling). Sampling method
in which all members of a group have an equal and independent chance of being selected

DATA COLLECTION AND STATISTICAL TOOL

Research Instrument for data collection: Questionnaire
Questionnaire refers to a self-administrative process were by the respondent himself
reads the questionnaire and answer questions without the help of interview.
A questionnaire consists of a certain number of questions printed or typed in a definite
order. A questionnaire is framed on the basis of the parameters and overall view of the
objectives of the study.
Data for this study was collected using survey method. Data collected was tabulated and
analyzed by using on e of the statistical tool

Percentage analysis
Percentage analysis makes a comparison between two or more series of data. Percentages
are used to describe the relationship

No. Of employees
%= * 100
Total no. Of sample size

49
THEORETICAL FRAMEWORK

Pay determination may have one or more objectives, which may often be in conflict with
each other. The objectives can be classified under four broad headings.

The first is equity, which may take several forms. They include income distribution through
narrowing of inequalities, increasing the wages of the lowest paid employees, protecting
real wages (purchasing power), the concept of equal pay for work of equal value. Even pay
differentials based on differences in skills or contribution are all related to the concept of
equity.

A second objective is efficiency, which is often closely related to equity because the two
concepts are not antithetic. Efficiency objectives are reflected in attempts to link a part of
wages to productivity or profit, group or individual performance, acquisition and
application of skills and so on. Arrangements to achieve efficiency may be seen also as
being equitable (if they fairly reward performance) or inequitable (if the reward is viewed
as unfair).

A third objective is macro-economic stability through high employment levels and low
inflation, for instance. An inordinately high minimum wage would have an adverse impact
on levels of employment, though at what level this consequence would occur is a matter of
much debate. Though pay and pay policies are only one of the factors which impinge on
macro-economic stability, they do contribute to (or impede) balanced and sustainable
economicdevelopment.

A fourth objective is the efficient allocation of labour in the labour market. This implies
that employees would move to wherever they receive a net gain; such movement may be
from one geographical location to another, or from one job to another (within or outside an
enterprise). Suchmovement is caused bythe provision or availability of financial
50
incentives. For example, workers may move from a labour surplus or low wage area to a
high wage area. They may acquire new skills to benefit from the higher wages paid for
skills. When an employer's wages are below market rates employee turnover increases.
When it is above market rates the employer attracts job applicants. When employees move
from declining to growing industries, an efficient allocation of labour due to structural
changes takes place.

The need for a Compensation Strategy-

For any / all of the following reasons:

1 To attract and retain the best in theindustry

2 To have compensation strategy aligned to each business to better serve
independent businessneeds
3 Should attract lateralhires
4 Need for greater flexibility in taking compensationdecisions
5 Need to align employee careermovement
6 Adding value through personnelcosts

GOALS OF A COMPENSATION STRATEGY

1 Capable applicants are attracted towards the Organization and it helps acquire
qualified competentpersonnel
2 To retain current employees so that they do notquit
If compensation levels are not competitive, it will result in higherturnover

3 Motivate employees to performbetter

51
 4 Encourage value –addedperformance
Reward the desiredbehaviour

5 Controlcosts
Through a rational compensation system, employees can be obtained and
retained at a reasonablecost

6 Promoting continuous development through competence – related and skill –

based pay schemes, effective performancemanagement
7 Promoting teamwork through teampay
8 Promoting flexibility by replacing hierarchical and rigid paystructures
9 Providing value for money by evaluating the costs as well as benefits of reward
management practices
10 Facilitating easy understanding by all, including employees, operating managers
and HRpersonnel
11 Providing value for money by evaluating the costs as well as benefits of reward
management practices
12 Easyadministration

CHARACTERSTICS OF A SOUND COMPENSATION STRATEGY

1 Be congruent with and support corporate values, beliefs, philosophy andculture

2 Emanate from business strategy and business plans (medium and long –term)
3 Fit the desired managementstyle
4 Provide the competitive edge required; be based on an industry benchmarking
study
5 Be based on an Organization’s ability topay
6 Be adaptable to changing business conditions

52
 7 Ensures Equity – both internally andexternally
8 Complies with the legal regulations as imposed by thegovernment
9 Is effectivelycommunicated
10 Careful selection of performance measures, determination of performance awards
and distributionmechanisms
11 Union participation and involvement in designing the policy to facilitate
comprehension andacceptance
12 Provisions for modifications and periodicallyreviewed

A COMPENSATION STRUCTURE COMMUNICATES

1 Organization Philosophy /Culture

2 CareerProgression
3 Benefits toEmployees
4 Individual v/s TeamFocus
5 Performance Recognition giving the message to align Total COMPENSATION
with Business Situation, Needs &Goals
6 Generate Flexibility / Variability ofCosts
7 Focus on Effectiveness of Total CompensationPolicy

FACTORS INFLUENCING COMPENSATION POLICY

Philosophy Organization Mission, Vision, Goals &Values– Inclination

towards People Development, Attraction & Retention ofTalent

Parity Inter / Intra Level Relativity, CompanyRatio

53
Positioning Assess Competitiveness – Current & Targeted PercentilePositioning

PayingAbility Budget Considerations

FACTORS AFFECTING COMPENSATION POLICY

EXTERNAL FACTORS

1. Parity: External equity (prevalent pay structures in industry / geographiclocation)

2. Demand and supply: of labour and marketcondition

3. Geographic location: cost of living andinflation

ORGANIZATION - RELATED

1. Philosophy: mission, vision, goals & values –inclinationtowards people

development, attraction & retention of talent,goodwill& organizationculture

2. Parity: internal equity (relevant differentiating factors performance, seniority,

skills, responsibilities, interpersonalabilities, individual vs. Team vs. Organization
roles)

3. Paying ability: budget considerations/ financial implications/ limits

ofability to pay; businessperformance

4. Legalities: compliance of statutory and governmentrequirements

54
5. Trade unions: influence in collectivebargaining

6. Fringe benefits:statutory(overtime payment, canteen subsidy,

employee provident fund, gratuity) &non-statutory(conveyance allowance,
LTA, loans, insurance)

INDIVIDUAL RELATED

1. Job – related: job requirements and internalconsistency

2. Competition: availability of special competentpersonnel
3. Flexibility: due to varied levels of competencies and skills ofmanagers
4. Responsibilities: individual productivity and performance / contribution tooutput
5. Individual assessment: qualifications and relevantexperience

COMPENSATION SYSTEM

Allocation, conversion, and transfer of a portion of the income of an organization to its

employees for their monetary & in-kind claims on goods & services

A Monetary claims are wages or salaries paid to an employee in the form of money / or a
form that is easily and quickly transferable to money at the discretion of the employee

1. Wages & salaries in the form of money could be 2 types:

present payments (earned & acquired at present time) & deferred payments (earned but not
acquired until some futuretime)

2. Coins / paper money / cheques, creditcards

3. Stock option plans / pension plans / post retirement

incomeadjustments

55
B In-kind claims are claims on goods & services made available&paid for either
totally or in some percentage by theemployer

• in lieu of money provide an equivalent value for what has been offered &received
• little or no immediate monetarygain
• organizations purchase the usually desired goods & services to take advantage of–

Economies of scale available through group purchasing

The benefits available through tax laws & regulations

Government laws requiring certain services

NON-COMPENSATION SYSTEM

Situation – related rewards, related to the physical & psychological well – being of each
employee, these rewards satisfy the emotional & intellectual demands

- Impact on the intellectual, emotional & physical well-being of theemployee

DIMENSIONS OF COMPENSATION SYSTEM

PAY FOR WORK& PERFORMANCE

• money provided in short – term (weekly / monthly / annual bonuses &awards)
• permits employees to pay for goods & servicesdesired
• depends on: job requirements; outputs that meet or exceed quantity, quality &
timeliness standards; innovations leading to improved productivity; dependability;
loyalty
• includes: base pay, premiums & differentials, short – term bonuses, meritpay,
56
 travel expenses, clothing reimbursement etc
PAY FOR TIME NOT WORKED
days off with pay for holidays, longer paid vacations, election official, witness in court,
paternity leave, maternity leave, time off to vote, personal leave, relocation payments,
lunch & rest periods etc ..although they increase labour costs, but they enhance quality
– of – work – life opportunities for most employees
- LOSS-OF-JOB INCOMECONTINUATION
- job security is a primeconsideration
- loss of job could be due to any of thefollowing:
* accident
* sickness
* personalperformance
* interpersonal dynamicsproblems
* firm’s decline /end
- unemployment insurance, supplemental unemploymentbenefits
(subs), severance pay, job contract etc helpunemployedworkers subsist until
new employment opportunitiesarise
- DISABILITY INCOMECONTINUATION
- health or accident disability can lead to non – performance of normal
assignments
- family expensespersist
- social security, workers’ compensation, sick leave, travel accident insurance,
accidental death and dismemberment, short &long-term disability plans areprovided
- DEFERRED INCOME
-providing income after retirement
- includessocialsecurity,pensionplans,profitsharing(longterm),stockoption
plans
- funds invested in these draw tax-free interest thusemployeescan defer tax
obligations

57
- SPOUSE (FAMILY) INCOMECONTINUATION
- Providing dependents with income when an employee dies or is unable to work
due to total and permanentdisability
- life insurance plans, social security, pension plans, workers’compensation
- HEALTH, ACCIDENT AND LIABILITYPROTECTION
- Income continuation & payment for the expenses incurred for overcoming the
illness /disability
- wide variety of insurance plansavailable
- medical, hospital, surgical insurance (for self &dependents)
- major medical, dental & vision care. hearing aid, post-retirement medical plans,
prescription drugs, visiting nurse
- liability – related insurance: group legal, group automobile, group umbrella
liability, employeeliability
- INCOME EQUIVALENTPAYMENTS
- Perks orperquisites
- tax free: charitable contributions, giving of gift,employee
assistance programs, counseling, child adoption, child / elderly
care, subsidized food service, discounts on merchandise, fitness
programs, parking, commuting assistance (transportation to &
from work), fly first class, professionalmemberships,professional journals,
special relocation & moving allowances, pay forspouse
on business trips, home entertainment allowance, domestic staff
allowance, mobile phone, use of assistant for personal services
- Tax favoured: medical expense reimbursement, chauffeur – driven car, company
plane / yacht, company provided facilities, personal use of credit cards, vacation
accommodation, specialloan
arrangements, club membership, concierge services

DIMENSIONS OF NON-COMPENSATION SYSTEM

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• Enhance dignity and satisfaction from workperformed
- Least expensive & most powerfulrewards
- Employee recognition leads to self - worth &pride
- Employees should feel that they are needed & their efforts are beingappreciated
• Enhance physiological health, intellectual growth, and emotionalmaturity
- Provide a safe working environment: provision of safe equipment, risk free
environment, minimization of noxious fumes, avoidance of extreme heat, cold &
humidity conditions, elimination of contact with radiation & other disease–related
materials, reduced noise levels, cleanworkstation,
- stress & technological advancements – affect emotional well-being of the
individual: providing a stable & secure lifestyle, training & development
opportunities to overcome health-relatedproblems
• Promote constructive social relationships withcoworkers
- an inexpensive & valuable reward is a workenvironmentwhere trust,
fellowship & loyalty emanate from the toplevels of management, percolating to the
grassroots
- comradeship of workplaceassociates
- opportunity to develop productivity – promoting socialrelationships
- moving towards team – based operations
• Design jobs that require attention andeffort
- restructuring job tasks to make it challenging
- sense of accomplishment from work
- job rotation to increaseflexibility
- turning supervisors tomentors
- making jobs more interesting & lessrepetitive
Organizations increase quality & productivity; reduce employee turnover, absenteeism,
tardiness, waste of physical resources, theft & malicious damage
• Allocate sufficient resources to perform work assignments
- all necessary human, technical and physical resourcesshouldbe made
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available to support & aid the employeeinaccomplishing theassignment
- the organization must enable employees to gain the required skills & knowledge
necessary to perform the assignment
- organization should do everything possible to assisttheemployee in
completing the assigned worksuccessfully
• Grant sufficient control over job to meet personaldemands
− employee participation in decision-makingprocess
− casual dressday
− scheduling workactivities
− flexible work schedules: compressed workweeks, flextime programs, work from
homechoice
− job sharing (2 part-time employees share 1 full-timejob)
• Offer supportive leadership &management
− employee faith & trust inmanagement
− skill & interest in coaching & counseling ofemployees
− praise for a job welldone
− constructive feedback leading to improvement in jobperformance
− sufficiently flexible leadership with policies, rules, regulations so that an employee
can meet job responsibilities without infringing on rights & opportunities of other
employees

TRADITIONAL COMPONENTS OF A COMPENSATION PROGRAM

Fixed cash compensation

- largest component of the total compensation & rewardspackage
- monetary remuneration based on ‘time worked’ & not on output/
performance
- base wages & salaries – depends on the internalvalue (determined by job

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evaluation) & external value (through marketpaysurveys) ofemployee
- after-tax paycheck
- determines lifestyle of theemployees
- leisure activities restricted / defined by thepaycheck
- most critical part of the fourcomponents

Wage & salary add-ons

- monetary remuneration
- paid over & above thesalary
- includes payments for working overtime, shiftdifferentials,
premium pay for working on holidays /weekends
- least critical of the fourcomponents

Incentive payments
- pay- for - outputsystem
- performance pay – linked to both the company & theindividual
- difficult to measure in the service industry whichemploys70% of the
workforce of the total employedpeople
- in several professions, it is difficult to measure output & pay
incentives

Employee benefits & services

- hidden payroll or fringebenefits
- indirect financial & non-financialpayments
- supplementary compensation totally dependentonorganizational philosophy
- includes benefits provided by an employer to his employees &his family (in
somecases)

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 - benefits for employmentsecurity;health protection; old age &
retirement; personnel identification, participation &stimulation
- two types: mandatory employee benefits: voluntarybenefits

MANDATORY EMPLOYEE BENEFITS

• Employer is compelled to provide for certain benefits by the operation of the law
❖ Paid holidays – factories act, 1948 a weekly paidholiday
❖ Paid vacations – one day for every 20 daysworked
❖ Retrenchment compensation – industrial disputes act, 1947 (one month
notice or one month’s pay) – paid @ 15 days wage for every completed year
of service with a maximum of 45 days wage in ayear
❖ Lay-off compensation - industrial disputesact,1947 (@ 50% of the
total of the basic wage & da for the period of their lay-off) – paid upto 45
days in ayear
❖ Workmen’s compensation – workmen’s compensation act, 1923 – payment
to meet the contingency of invalidity & death of a worker due to employment
injury or occupationaldisease
❖ Health benefits – employee state insurance act, 1948 – sickness benefit,
maternity benefit, disablement benefit, dependent’s benefit, medicalbenefit
❖ Canteen facility – factories act, 1948 – canteen in factories employing more
than 250workers
❖ Provident fund – contributions by employer & employee are 8.5% of basic
salary – benefit payable on retirement, voluntary separation ordeath
❖ Employee pension scheme – introduced in 1995 –employer contribution is
directed to pension + 1.66% of employee wages contributed by centralgovt.
• Entitled to pension @ 1 / 70th of salary for each year of service
❖ Gratuity–after5yearsofcontinuousservice–15days’salaryperyearof

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 service upto a ceiling of INR 3,50,000/-
• Companies with more than 10employees
• Given in case of separation, superannuation, death ordisablement
• No contribution of employees towards thisbenefit
❖ PSU scheme – public sectorscheme
• Various pension schemes with accrual rates varying from 1/100 to
1/60
• Both employer & employeecontribute
• Membership is mandatory for all those inPSUs
❖ Leave encashment scheme – claim encashment of unutilized leave at the
termination ofservice
• Not-taxable in the hands of the retiredemployee
• Payable to dependents in case of death ofemployee
VOLUNTARY EMPLOYEEBENEFITS
• Its is entirely the choice of the employer to provide these benefits to the
employees
• Shift premium – for IInd & IIIrd shifts for the oddhours
• Company housing accommodation – some companies even pay for the
utility bills (electricity / water & societycharges)
• Subsidized food &transport
• Group mediclaim / personal accident insurance – adequate coverage for the
hospitalization expenses incurred due to illness, disease or injury sustained
in accident / pregnancy (for female) for employee & immediate family
dependents
• Educational facilities – sponsor higher education of employees & family
members
For certifications / trainings / memberships etc
• co-operativecreditsocieties–forfosteringself-helpthangoingtomoney

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 lenders
• Legal aid – provide legal assistance & aid through company lawyers or
others as & whenrequired
• Recreational facilities – gyms, clubs, internet café, one film per week
shows etc
• Regular meetings & gatherings – of employees with their families to
express talent, creativity & relieve of work stress
• Loans – at subsidized rates of interests for housing deposits, vehicle
purchase, marriage, illness or death of a close familymember
• Personal health care – extensive health check-upperiodically
• cellular phones / laptop – on basis of businessrequirement
• Corporate credit card – to take care of official expenses arising out of
business trips
• Gifts – on various occasions like birthday, anniversary, festivals – to
strengthen bond between employer &employee
TOTAL COMPENSATION

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COMPENSATION STRUCTURE – VARIOUS PERSPECTIVES

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DATA ANALYSIS & INTERPRETATIONS

1. Service duration ofrespondents

No.of.Respondents Percentage
0-2 years 6 20
2-5 years 9 30
above 5 years 15 50
Total 30 100

Interpretation

Total no of respondents are 30, out of 30, 15 people are having above 5 years service in
organization, 9 people are 2 to 5 years service and 6 members are 0 to 2 years service.

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2.Monthly constant and fixedsalary..?

No.of.Respondents Percentage

Yes 12 40

No 18 60

Total 30 100

Interpretation

Total no of respondents are 30, 60% of the respondents said every month salary will be
differ and 40% of the respondents are said standard salary will be provided.

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3.Salaries and wages paid on fixed date ornot..?

No.of.Respondents Percentage
Yes 25 83
No 5 17
Total 30 100

Interpretation

Total no of respondents are 30, 83% of the respondents said every month salary will be
provided on date.

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4.To know if the salary and wages payment way enough to motivate employees towork

No. of. Respondents Percentage

Strongly agree 20 67
Agree 5 16
Disagree 5 17
Total 30 100

Interpretation:

The response from the participants was that 67% strongly agreed to the salary as sufficient
to make an employee desire to work, 16% agreed to it while 17% did not agree with it

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5.Salary and remuneration reflect work employeeoutput..?

It was necessary to find out from respondents if the salary and remuneration they get reflect
their skills, competence and the work output offered by employees.

Remuneration to
No.Of. Respondents Percentage
employee output

Yes 18 60
Somehow 9 30
Not sure 3 10
Total 30 100

Interpretation:

The response from the participants was that 60% strongly agreed to the salary and
remuneration strongly affectsthe output. 30%people said somehow it effects and 10% said
notsure.

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6. Indirect Financial compensation impact on employeeproductivity..?

The research was interested in knowing the impact of indirect financial benefits on the
morale and productivity of employees

Indirect Financial
compensation impact No.of. Respondents Percentage
Great Impact 18 60
Normal Impact 6 20
Less Impact 4 13
No Impact 2 7
Total 30 100

Interpretation:

60% said great impact of Indirect Financial compensation impact on employee

productivity, 20% people said Normal impact, and 13% people said less impact and 7%
people opinion is no impact.

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7. Benefits administered fairly oncompetence..?

The aim was to know how the company administered the benefits based on competence
and work output.

Benefits administered
fairly on competence No.of. Respondents Percentage
Yes 15 50
Sometimes 5 17
Rarely 6 20
No 4 13
Total 30 100

Interpretation:

Respondent’s opinion on benefits providing administered fairly on competence.50% of

respondents said yes, 17% said sometimes, 20% said rarely it happens, 13% said no.

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8. Non-financial compensation offered at TATAMotors.

The researcher wanted to know if non-financial compensation like flexible work schedule
and job sharing was offered in work.

Non-financial No.of.
compensation Respondents Percentage
Yes 23 77
No 7 23
Total 30 100

Interpretation:

The results showed that non-financial compensation like flexible job schedule and job
sharing was being offered according to 87%, the remaining 13% did not agree.

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9.Employee recognition to employeeproductivity…?

There was need to know how employee recognition ensure productivity of employeesand
the data collected was presented asbelow

Employee recognition to
employee productivity No.Of. Respondents Percentage
Yes 12 40
Sometimes 8 27
Not sure 5 17
No 5 16
Total 30 100

Interpretation

From the respondents overall 30 clearly agreed that employee recognition through giving
non financial compensation ensured the productivity of employees, 40% said yes,27%
termed it as somehow,17% were not sure while 16 did not agree

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10. Employee relationship onproductivity…?

This was to sort the relevance of the relationship between top management and
organizational employees on the productivity of employees.

Employee
relationship on No.Of.
productivity Respondents Percentage
Yes 26 87
No 4 13
Total 30 100

Interpretation:

The relationship between employees and top management determines the productivity of
employees according to 87% of the respondents while 13% did not agree.

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11. Impact of employee involvement in total strategy designstrategy..?

The researcher to explore the impact of employee involvement in the design of the total
reward strategy on the influence of the performance of employees.

Impact of employee involvement

in total strategy design strategy No.Of. Respondents Percentage
Yes 14 47
Somehow 12 40
Not Sure 3 10
No 1 3
Total 30 100

Interpretation:

It was very evident from the respondents that involving employees in design of total reward
strategy is very important in employee acceptance and commitment to the designed
strategies that is necessary for the performance of employees since 47% affirmed this, 40%
somehow, 10% were not sure and 3% denied the claim.

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FINDINGS ,SUGGESTIONS & CONCLUSION

FINDINGS

• Total no of respondents are 30, out of 30, 15 people are having above 5 years service
in organization, 9 people are 2 to 5 years service and 6 members are 0 to 2
yearsservice.
• 60% of the respondents said every month salary will be differ and 40% of the
respondents are said standard salary will beprovided
• 83% of the respondents said every month salary will be provided ondate
• The response from the participants was that 67% strongly agreed to the salary as
sufficient to make an employee desire to work, 16% agreed to it while 17% didnot
agree withit
• The response from the participants was that 60% strongly agreed to the salary and
remuneration strongly affects the output. 30%people said somehow it effects and
10% said notsure.
• 60% said great impact of Indirect Financial compensation impact on employee
productivity, 20% people said Normal impact, and 13% people said less impact and
7% people opinion is noimpact.
• Respondents opinion on benefits providing administered fairly on competence..
• 50% of respondents said yes, 17% said sometimes,20% said rarely it happens,13%
said no.
• The results showed that non-financial compensation like flexible job schedule and
job sharing was being offered according to 87%, the remaining 13% did notagree.
• From the respondents 31% clearly agreed that employee recognition through giving
non financial compensation ensured the productivity of employees, 45% termed it
as somehow, 13% were not sure while 11 did notagree

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• The relationship between employees and top management determines the
productivity of employees according to 87% of the respondents while 13% did not
agree.
• It was very evident from the respondents that involving employees in design of total
reward strategy is very important in employee acceptance and commitment to the
designed strategies that is necessary for the performance of employees since 47%
affirmed this, 40% somehow, 10% were not sure and 3% denied theclaim.

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SUGGESTIONS

There is need to ensure that existing fixed and constant monthly salaries have fixed dates
to avoid frustrating employees due to some possible delays triggered by flexibility of dates.
More studies to be explored to establish the factors will conclusively make the salary
offered to employees sufficient to motivate and retain employees. Also further research on
how salaries and remuneration should reflect the skills, competence and employeeoutput

The employers should consider taking care of the personal needs of employees like child
care services and domestic partners benefits to promote productivity of employees. The
benefits administered by the company should be done fairly all the time to ensure
consistency and cultivate trust from employees.

Reward for employee recognition like shopping vouchers, praise dinners and trophies
should not be premised on as the main motivators for employee productivity. A conducive
working environment with sufficient seating space, proper lighting and due promotions
should be facilitated for effective employeeproductivity

Organizations should consider offering employees mixed financial and non-financial

compensation reward to have double impact on their productivity.

It is essential to involve work forces in the designing of total reward approach for employee
ownership and engagement to the strategy during implementation

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CONCLUSION

There exist fixed and constant monthly salaries with flexible dates though some months
are fixed during payment. It is not very substantive to conclude that the salary being offered
is not sufficient to motivate and retain employees since a considerable number termed the
salary as sufficient. There is also no conclusive position on the salaries and remuneration
reflecting the skills, competence and work output offered by employees.

Indirect financial compensation like health insurance and paid leave impact on the
productivity of employees. Many times the company administers the benefits fairly though
sometimes it does it unfairly.

Non-financial compensation like flexible work schedule and job sharing are necessary.
Also working environment like seating, lighting, noise, recognition and promotion are
relevant in determining employee productivity. Employee recognition through giving of
rewards does not necessary ensure employee productivity.

The relationship between top management and organizational employees is relevant in

determining employee productivity. The productivity of employees can be of great impact
if both financial and non-financial rewards are mixed during employee compensation. It is
important to involve employees in designing of total reward strategy to ensure acceptance
and commitment of employees to thestrategy.

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BIBLIOGRAPHY

REFERENCES

Adams, J.S. (2013). Toward an understanding of inequity. Journal of Abnormal

Psychology, 67, 422-436.

Armstrong, M. (2008). Strategic Human Resource Management: A Guide to Action.

Philadelphia: Kogan Page Publishers.

Armstrong, M. (2006), A Handbook of Human Resource Management Practice. (10th ed.),

Kogan Page Limited, London.Bahaudin G. M. &Shandana.S. (2010), An Equitable Total
Rewards Approach to Pay for Performance Management, Journal of Management Policy
and Practice, 11(4), 111.

Baker D (2012).Why has the British. National Minimum Wage had little or no Impact on
Employment? Journal of Industrial Relations, 50, 489-512.

Bohlander, G. & S. Snell, (2014). Managing human resources (13thed.). Mason:

Thompson.

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QUESTIONARIES

1. Service duration ofrespondents

A. 0-2 years B.2-5years C. Above 5years
2. Monthly constant and fixedsalary..?
A. Yes B.No

3. Salaries and wages paid on fixed date ornot..?

A. Yes B.No
4. To know if the salary and wages payment way enough to motivate employees to
work
A. StronglyAgree B.Agree C.Disagree
5. Salary and remuneration reflect work employeeoutput..?
A. Yes B.Somehow C.Notsure
6. Indirect Financial compensation impact on employeeproductivity..?
A. GreatImpact B. NormalImpact C. LessImpact D. No
Impact
7. Benefits administered fairly oncompetence..?
A. Yes B. SometimesC. Rarely D.No
8. Non-financial compensation offered at TATAMotors
A. Yes B.No
9. Employee recognition to employeeproductivity…?
A. Yes B.Sometimes C.NotSure D.No
10. Employee relationship onproductivity…?
A.Yes B.No
11. Impact of employee involvement in total strategy designstrategy..?
A. YesB. Sometimes C.Not sure D.No

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