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A PROJECT REPORT ON QUALITY OF WORK LIFE AT RELIGARE ENTERPRISES LIMITED Submitted in partial fulfilment for the award of MASTER OF BUSINESS ADMINISTRATION
By

A. MURALI MOHAN MBA (HR) Hall Ticket No: 160709672013

Under the guidance of

SHWETA HITESH
Submitted to

THE DEPARTMENT OF MBA METHODIST COLLEGE OF ENGINEERING & TECHNOLOGY (Affiliated to Osmania University) (2009-2011)
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Date: 21-03-2011

This is to certify that Mr. A MURALI MOHAN bearing H.T.No. 160709672013 is a bonafide student of this college for the years 2009-2011. She/he has worked on the project titled QUALITY OF WORK LIFE at RELIGARE ENTERPRISES LIMITED under the supervision of SHWETA HITESH Associate Professor, Department of Business Management of this college and guidance of Mr. SRIDHAR KANCHARLA, LIMITED. RELIGARE ENTERPRISES

HOD

PRINCIPAL

External Examiner
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CERTIFICATION

This is to certify that the Project Report title QUALITY OF WORK LIFE at RELIGARE ENTERPEISES LIMITED submitted in partial fulfilment for the award of MBA Programme of Department of Business Management, O.U. Hyderabad, was carried out by A MURALI MOHAN under my guidance. This has not been submitted to any other University or Institution for the award of any degree/diploma/certificate.

Signature

P.BHANU SIREESHA

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DECLARATION

I hereby declare that this Project Report titled QUALITY OF WORK LIFE at RELIGARE ENTEPRISES LIMITED submitted by me to the Department of Business Management, O.U., Hyderabad, is a bonafide work undertaken by me and it is not submitted to any other University or Institution for the award of any degree diploma / certificate or published any time before.

A MURALI MOHAN HT. No: 160709672013 Signature

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ACKNOWLEDGEMENT

I would like to thank RELIGARE ENTERPRISES LIMITED in Hyderabad, for giving me an opportunity to do a project in the company. I would like to extend my sincere thanks to Mr. SRIDHAR KANCHARLA for guiding me throughout the course of the project.

I would like to thank SHWETA HITESH, Associate Professor, Methodist College of Engineering & Technology, Abids, Hyderabad, for her inspiration and timely support in successful completion of this project work.

A MURALI MOHAN
HT.NO: 160709672013

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ABSTRACT

The term Quality of Work Life (QWL) refers to the favourableness or unfavourableness of a total job environment for people. QWL programs are another way in which organizations recognize their responsibility to develop jobs and working conditions that are excellent for people as well as for economic health of the organization. The main objective is to study the quality of work life of (QWL) employees in RELIGARE ENTERPRISES LIMITED, And to find out how quality of work life leads to high satisfaction, And to know the existing working conditions, Industrial Health and safety help to improve the quality of work life, And To study the workers participation in RELIGARE ENTERPRISES LIMITED The employees of RELIGARE ENTERPRISES LIMITED expecting from the company to Improve in rewarding and awarding policies and Introduction of Promotion policy at operation level. Employees need high motivation from the top management of the company. Employees need more compensation from the company. The study, it is clear that quality of work life of employees in RELIGARE ENTERPRISES LIMITED., is good. This research highlights some of the small gaps in employees satisfaction towards the company. Compared to other companies believe in employees satisfaction and brilliant productivity hours. Quality mission includes not only the quality of the products but also the Quality of Work Life. RELIGARE ENTERPRISES LIMITED aims to promote the peaceful industrial relations and good organization which is highlighted by management and the employees. Since employees are the backbone of the company. So company should satisfy them in order to improve the business in the higher competitive market of the liberalized economy.

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TABLE OF CONTENTS
CONTENTS PAGE NO

CHAPTER I. INTRODUCTION 1. INTENT 2. SIGNIFICANCE 3. OBJECTIVES 4. LIMITATIONS

1-13

CHAPTER II. REVIEW OF LITERATURE

14-33

CHAPTER III. COMPANY PROFILE

34-52

CHAPTER IV. DATA ANALYSIS AND INTERPRETATIONS

53-86

CHAPTER V. FINDINGS, SUGGESTIONS & CONCLUSION

89-95

CHAPTER V I. BIBILOGRAPHY

96-97

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CHAPTER I

INTRODUCTION

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INTRODUCTION INTENT I have undertaken the project on Quality of Work Life as a part of the curriculum of the IV Semester. The main reason I took up this project is to learn how different work life situations affect employees in their working styles. The main intent/aim of doing this project is to understand what good quality work life means to employees and how it affects the companies. The project helps me to understand how a companys HR Department tries to improve their business by keeping good relations with employees. It helps to understand how good working conditions help employees to work more efficiently. Quality Work Life emphasizes on how an employee and employer should keep a proper balance between their work and family. It emphasizes how people can keep balance by making their work timings flexible. QWL basically is all about employee involvement, which consists of methods to motivate employees to participate in decision making. This helps in building good relationships. The project gives emphasis on use of quality circles by companies like Motorola, which helps in solving many quality and people related problems.

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This project is a means to appreciate the nitty-gritty involved in employees relationship with their organization and employers. It helps me understand how organizations keep constant check of health and safety so as to run their business smoothly. Last but not the least, this project, shows through case studies how different organizations take care of the working environment, so as to keep their employees and other associates happy.

WHAT IS QWL? The term refers to the favorableness or unfavorableness of a total job environment for people. QWL programs are another way in which organizations recognize their responsibility to develop jobs and working conditions that are excellent for people as well as for economic health of the organization. The elements in a typical QWL program include open communications, equitable reward systems, a concern for employee job security and satisfying careers and participation in decision making. Many early QWL efforts focus on job enrichment. In addition to improving the work system, QWL programs usually emphasize development of employee skills, the reduction of occupational stress and the development of more cooperative labor-management relations.

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Vigorous Domestic and International competition drive organizations to be more productive. Proactive managers and human resource departments respond to this challenge by finding new ways to improve productivity. Some strategies rely heavily upon new capital investment and technology. Others seek changes in employee relations practices. Human resource departments are involved with efforts to improve productivity through changes in employee relations. QWL means having good supervision, good working conditions, good pay and benefits and an interesting, challenging and rewarding job. High QWL is sought through an employee relations philosophy that encourages the use of QWL efforts, which are systematic attempts by an organization to give workers greater opportunities to affect their jobs and their contributions to the organizations overall

effectiveness. That is, a proactive human resource department finds ways to empower employees so that they draw on their brains and wits, usually by getting the employees more involved in the decision-making process.

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A Rationale Job specialization and simplification were popular in the early part of this century. Employees were assigned narrow jobs and supported by a rigid hierarchy in the expectation that efficiency would improve. The idea was to lower cost by using unskilled workers who could be easily trained to do a small, repetitive part of each job. Many difficulties developed from that classical job design, however. There was excessive division of labor. Workers became socially isolated from their co-workers because their highly specialized jobs weakened their community of interest in the whole product. Deskilled workers lost pride in their work and became bored with their jobs. Higher-order (social and growth) needs were left unsatisfied. The result was higher turnover and absenteeism, declines in quality and alienated workers. Conflict often arose as workers sought to improve their conditions and organizations failed to respond appropriately. The real cause was that in many instances the job itself simply was not satisfying. Humanized Work through QWL One option was to re-design jobs to have the attributes desired by people, and re-design organizations to have the environment desired by the people. This approach seeks to improve QWL. There is a need to give workers more of a challenge, more of a whole task, more opportunity to use their ideas. Close attention to QWL provides
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a more humanized work environment. It attempts to serve the higherorder needs of workers as well as their more basic needs. It seeks to employ the higher skills of workers and to provide an environment that encourages them to improve their skills. The idea is that human resources should be developed and not simply used. Further, the work should not have excessively negative conditions. It should not put workers under undue stress. It should not damage or degrade their humanness. It should not be threatening or unduly dangerous. Finally, it should contribute to, or at least leave unimpaired, workers abilities to perform in other life roles, such as citizen, spouse and parent. That is, work should contribute to general social advancement. Q U A L I T Y Quest for excellence Understanding Action Leadership Involvement of the people Team spirit Yardstick to measure progress

The above said are very essential things to improve the work life of employees in the organization.
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SIGNIFICANCE OF THE STUDY Quality of work life covers various aspects under the general umbrella of supportive organizational behaviour. Thus, the QWL should be broad in its scope. It must be evaluate the attitude of the employees towards the personnel policies. The research will be helpful in understanding the current position of the respective company. And provide some strategies to extent the employees satisfaction with little modification which is based on the internal facilities of the company.

This research can be further used to evaluate the facilities provided by the management towards the employees. This study also helps in manipulating the basic exception of the employees.

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OBJECTIVES OF THE STUDY: To study the quality of work life of (QWL) employees in RELIGARE ENTERPRISES LIMITED To find out how quality of work life leads to high satisfaction To know the existing working conditions, Industrial Health and safety help to improve the quality of work life. To study the workers participation in RELIGARE ENTERPRISES LIMITED To examine how the training and development programmers helps to improve the quality of work life. To know how the various welfare activities and other benefits helps to bring a better quality of work life.

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LIMITATIONS OF THE STUDY Converting qualitative data into quantitative data may often lead to inaccurate results. The respondents may not have expressed them strong negative feelings about the policies, which results in the error of central tendency. Few respondents were reluctant while answering the questions.

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The Human Resource Departments Role The role of human resource department in QWL efforts varies widely. In some organizations, top management appoints an executive to ensure that QWL and productivity efforts occur throughout the organization. In most cases, these executives have a small staff and must rely on the human resource department for help with employee training, communications, attitude survey feedback, and similar assistance. In other organizations, the department is responsible for initiating and directing the firms QWL and productivity efforts.

Perhaps the most crucial role of the department is winning the support of key managers. Management support particularly top management support appears to be an almost universal prerequisite for successful QWL programs. By substantiating employee satisfaction and bottom-line benefits, which range from lower absenteeism and turnover to higher productivity and fewer accidents, the department can help convince doubting managers. Sometimes documentation of QWL can result from studies of performance before and after a QWL effort. Without documentation of these results, top management might not have continued its strong support.

The department also has both a direct and indirect influence on employee motivation and satisfaction, the department makes direct
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contact with employees and supervisors through orientation, training and development, career planning, and counseling activities. At the same time, these activities may help a supervisor do a better job of motivating employees.

The policies and practices of the department also influence motivation and satisfaction indirectly. Rigorous enforced safety and health programs, for example, can give employees and supervisors a greater sense of safety from accidents and industrial health hazards. Likewise, compensation policies may motivate and satisfy employees through incentive plans, or they may harm motivation and satisfaction through insufficient raises or outright salary freezes. The motivation and satisfaction of employees act as feedback on the organizations QWL and on the departments day-to-day activities.

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Motivation Motivation is a complex subject. It involves the unique feelings, thoughts and past experiences of each of us as we share a variety of relationships within and outside organizations. To expect a single motivational approach work in every situation is probably unrealistic. In fact, even theorists and researches take different points of view about motivation. Nevertheless, motivation can be defined as a persons drive to take an action because that person wants to do so. People act because they feel that they have to. However, if they are motivated they make the positive choice to act for a purpose because, for example, it may satisfy some of their needs. Job Satisfaction Job satisfaction is the favorableness or unfavorableness with which employees view their work. As with motivation, it is affected by the environment. Job satisfaction is impacted by job design. Jobs that are rich in positive behavioral elements such as autonomy, variety, task identity, task significance and feedback contribute to employees satisfaction. Likewise, orientation is important because the employees acceptance by the work group contributes to satisfaction. In sort, each element of the environmental system, can add to, or detract from, job satisfaction.

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Rewards Satisfaction and Performance A basic issue is whether satisfaction leads to better performance, or whether better performance leads to satisfaction. Which comes first? The reason for this apparent uncertainty about the relationship between performance and satisfaction is that rewards intervene as shown in the figure below. A Reward Performance Model of Motivation Rewards Reinforcement

Performance

Job itself Small groups Organization External

environment

Satisfaction

Employee

Motivation Inner drives

Self-image Self-esteem

Self-expectation Needs and Desire

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Whether satisfaction is going to be improved depends on whether the rewards match the expectations, needs and desires of the employee as shown at the bottom of the above figure. If better performance leads to higher rewards and if these rewards are seen as fair and equitable, then results in improved satisfaction. On the other hand, inadequate rewards can lead to dissatisfaction. In either case, satisfaction becomes feedback that affects ones self-image and motivation to perform. The total performance-satisfaction

relationship is a continuous system, making it difficult to assess the impact of satisfaction on motivation or on performance, and viceversa.

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CHAPTER II

REVIEW OF LITERATURE

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REVIEW OF LITERATURE THEORETICAL REVIEW DEFINITION Quality of work life means the degree top which members of a work organization are able to satisfy important personal needs through their experience in the organization QWL could be defined as the Quality of the relationship between the man and task. MEANING Quality of work life has gained deserved prominence in the Organizational Behaviour as an indicator of the overall of human experience in the work place. It expresses a special way of thinking about people their work and the organizational in which careers are fulfilled. QWL refers to the relationship between a worker and his environment, adding the human dimension to the technical and
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economic dimensions within which the work is normally viewed and designed. QWL focus on the problem of creating a human working environment where employees work co operatively and achieve results collectively. QWL also includes. The programme seeks to promote human dignity and growth Employees work collaboratively They determine work change participate The programmes assume compatibility of people and organization QWL refers to the level of satisfaction, motivation, involvement and commitment individuals experience with respect to their line at work. QWL is the degree of excellence brought about work and working conditions which contribute to the overall satisfaction and performance primarily at the individual level but finally at the organizational level.

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CONCEPT QWL is a prescriptive concept, it attempts to design work environments so as to maximize concern for human welfare. QWL acts in two dimensions. Goal Process

QWL acts as goal by Creation of more involving satisfying and effective jobs Work environment for people at all levels of the organization

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QWL acts as process by Make efforts to realize this goal through active participation. The whole essence of QWL may be stated thus, the QWL is co operative rather than authoritarian; evolutionary and open rather static and rigid; informal rather than mechanistic; mutual respect and trust than hatred against each other. Objectives of QWL The major two main objectives for the QWL are Improve employees satisfaction strengthen workplace learning Better manage on going chance and transition

MAJOR FACTORS AFFECTING THE QWL QWL means having good supervision, good working conditions, good pay and benefits an interesting and challenging, and a rewarding job. The major factors that affect the QWL may be stated thus.

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Pay QWL is basically built around the concept of equitable pay. In the days ahead, employees may want to participate in the profits of the firm as will. Employees must be paid their due share in the progress and prosperity of the firm. Benefits Workers throughout the globe have raises their expectations over the years and now feel entitled to benefits that were once considered a part of the bargaining process. Job Security Employees want stability of employment. They do not like to be the victims of whimsical personal policies and stay at the mercy of employers.

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Alternative Work Schedules Employees demand more freedom at the workplace, especially in scheduling their work. Among the alternative work schedules capable of enhancing the quality of work life for some employees are: i. ii. Flexi time: A system of flexible working hours, Staggered hours: Here groups of employees begin and end work at different intervals. iii. Compressed workweek: It involves more hours of work per day for fever days, per week. iv. Job enrichment: It attempts to increase a person's level of output by providing that persons with exciting, interesting, stimulating or challenging work. v. Autonomous work groups (AWGs): Here a group of workers will be given some control of decision-making and have responsibility for a task area without day-to-day supervision, and with authority to influence and control both group members and their behaviour.
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Occupational Stress Occupational mental-health programmes dealing with stress are beginning to emerge as a new and important aspect of QWL programmes. Obviously, and individual suffering from an

uncomfortable amount of job-related stress cannot enjoy a high quality of work life. Worker Participation Employees have a genuine hunger for participation in organizational issues affecting their lives. Naturally they demand far more participation in the decision making process at the workplace. Social Integration The work environment should provide opportunities for preserving an employee's personal identify and self-esteem through freedom from prejudice, a sense of community, interpersonal openness and the absence of stratification in the organization.

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Work and total life space A person's work should not overbalance his life. Ideally speaking, work schedules, career demands and other job

requirements should not take up too much of a person's leisure time and family life. WAY TO CREATE HIGH QWL QWL deals with the relationship between every employee and his or her work organization. This relationship is formal in sometimes less formal. This contract is psychological; contract. "Psychological contract is the set of expectations held be the individual specifying what the individual and the organization expect to give and receive from each other in the course of their working relationship". This contract represents the expected exchange of values that encourages the individual to work for the organization and motivates the organization to employ that person, (i.e.) Contribution and Inducements.

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A healthy psychological contract means that inducements and contributions are balance.

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INDUCEMENTS = CONTRIBUTIONS (Organization to employees) = (employee to organization) This is the way for organization to create healthy psychological contract and Jobs satisfaction for their members is to provide them with High QWL environment. ASPECTS OF HIGH QWL QWL are highlighted by the following Benchmarks of managerial excellence. Participation: Involving people from all levels of responsibility in decision-making Trust: Reside signing jobs systems and structures to give people more freedom at work. Reinforcement: - Creating reward systems that are fair, relevant and contingent on work performance Responsiveness: - Making the work setting more pleasant and able to serve individual Needs.
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QWL PROGRAMMES QWL programmes concentrate on creating a working environment that is Conductive to the satisfaction of worker needs. This program assumes that a job and the work environment should be structured to meet as many of the workers needs as possible.

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These programmes are helped to avoid some pitfalls like QWL program must be implemented with the co-operation of management and labor. Action plans must be carried to completion. Care must be taken to concentrate the focus on the joint objectives of improving the QWL.

RESULTS OF HIGH QWL High Productivity Increase organizational effectiveness High employee satisfaction High morale. Reduce the absenteeism and labor turn over Increase the quality of life of employees High employee involvement Peaceful industrial relation

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RESEARCH REVIEW Miller, 1978; Kirkman, 1981; Metz, 1982; Mirvis & Lawler, 1984; Cooper, 1988) define the qualities of work life are broadly similar to the study on Singaporean Employees Development suggest four dimensions of Quality of work life labelled as

i) ii) iii) iv)

Favourable work environment Personal growth and autonomy Nature of job and Stimulating opportunities and co-workers

Good performance is recognized in addition to rewards being based upon performance while employees are respected and treated like mature people.

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The Study on Singaporean Employees development, Cheng S says in a high QWL there should be a positive impact on personal life, an opportunity to be involved in decision as well as an acceptable level of physical comfort. Jobs seen to exist within high QWL work situations are those in which there is minimal negative impact on ones personal life, and hopefully one which has a positive impact on ones personal life. We would expect that these dimensions comprising QWL that were found in the present sample are consistent with the rapid economic growth and increasingly higher levels of educational standards in Singapore. Research studies (Taylor, 1977; Taylor, 1978; Donald, 1997) have generally established that QWL is positively associated with job satisfaction and can be a significant motivator. One implication of this finding for management is the need to consider the type of intrinsic and extrinsic factors highlighted by the four aspects of QWL that comprise the motivational reward-incentive system used in organizations. Designing the job and the work environment so as to include the characteristics of the QWL

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dimensions discussed above will contribute to the workers sense of well-being, and provide a more positive start to other work motivation programmes within the organization. Kirkman (1989) suggests that in the future work society; the drive for more humanitarian treatment both in and out of work will increase. Cheng S in his paper QWL through employee participation in Singapore has discussed the following four different approaches to QWL Employee share option scheme, Joint management

consultation, Quality circle and Industrial relations circle. This is an interesting situation given the high degree of emphasis on achieving high standards in performance and quality known in Singapore. QWL has also been viewed in a variety of ways including a) as a movement b) as a set of organizational interventions and c) as a type of working life felt by employees QWL, Self-evaluation and life satisfaction among American Africans.

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When for many people sex and relationships are troublesome--since they are often hazardous to our health--work plays an even greater role in keeping us "out of trouble." Regardless of how much we earn, most of us have some kind of agenda or work plan. And with so many people opening a home and a cyber-office, with mounting levels of technology-related stress (which Bruria Ginton, owner turned content-provider, calls frustression), many of us end up involved in more than one job, which we feel compelled to get done, spending the greatest portion of our lives in what we consider our workplace. So Quality of Work Life (QWL) is not some notion of frivolous luxury. QWL is just as real and useful as virtual reality itself.

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APPROPRIATENESS OF THE SURVEY METHOD The objective of study was to ascertain the quality of work life of the employees in specific work environment relationship. For this best suited method was survey method. Hence a questionnaire method is chosen which is free from bias of the interviewer and large sample can be made use of and thus the result can be more dependable and reliable

SAMPLING PROCEDURE Sampling is a method of selecting a few items from a particular group to be obtaining relevant data which help in drawing conclusions regarding the entire group i.e. population or universe.

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SAMPLING SIZE: The sample size selected for the study was 100 employees of RELIGARE ENTERPRISES LIMITED. CONSTRUCTION OF THE TOOL: To measure the effectiveness of QWL. Questionnaire method is used. The questionnaire consists of two sections. Section 1: Section 2: collect the personal details about respondents. consists of 20 Questions which deal with QWL.

In this study, structured questionnaire means a set of questions (statements) which is administered to the respondents. To assess their attributes opinion, information which is needed for the project.

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ANALYSIS AND INTERPRETATION The data collected are classified, analysed and calculated. The statistical tools are applied for the analysis of the data. The tools used are Percentage analysis, weighted average method and Chi square test. 1. Percentage analysis: Percentage refers is a special kind of ratio. Percentages are used in making comparison between two or more series of data. They are used to describe relationship. More over percentages can also be use to compare the relative terms of the distribution of two or more series of data. Formula: Percentage of Respondents = No. of respondents Total no. of respondents *100

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2. Weighted Average Method: Weighted Average Method was applied to find out the desirable policies & practices that are adopted by the company by ranking certain criteria's in some of the important functional areas of H.R. Weighted average method = (X1W1 + X2W2 + X3W3 +..) n 3. Chi - square test: Chi - Square is a non-parametric technique, most commonly used fay a research to test the analysis. The main objective of chi-square is to determine whether significant difference exist among group of data Formula: Chi - Square test = (Oi - Ei) 2/ Ei Oi = Observed frequency Ei = Expected frequency Degree of freedom = n 1.

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CHAPTER - III

COMPANY PROFILE

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COMPANY PROFILE

Religare is an emerging markets financial services group with a presence across Asia, Africa, Middle East, Europe, and the Americas. In India, Religares largest market, the group offers a wide array of products and services including broking, insurance, asset management, lending solutions, investment banking and wealth management. With 10,000-plus employees across multiple geographies, Religare serves over a million clients, including corporate and institutions, high net worth families and individuals, and retail investors.

"To be the leading emerging markets financial services group driven by innovation, delivering superior value for all stakeholders globally".

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Religare Enterprises Limited

Religare AMC Limited Asset Management Business Portfolio Management AEGON Religare Life Insurance Co. Ltd. Life Insurance Company, JV with Aegon(26%), Religare(44%), and Bennett & Coleman(30%)

Religare Finvest Limited Lending and Distribution business Religare Insurance Broking Limited Life Insurance Broking Business Non-Life Insurance Broking Business Religare Arts Initiative Limited Business of Art Art Gallery Art Advisory Religare Venture Capital Limited Private Equity and Investment Manager Vistaar Religare Capital Advisors Ltd. JV with Vistaar Entertainment
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Religare Macquarie Wealth Mgmt. Ltd. JV with Macquarie for Wealth Management Business

Religare Securities Limited Retail Equity Broking Online Investment Portal Depository Services Religare Commodities Limited Commodity Broking Business

Religare Capital Markets Limited

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PE and M&A Advisory Institutional Broking Investment Banking

Ventures for film fund India's first ever film fund Religare - Milestone JV with Milestone Capital to manage a healthcare and education fund Religare Finance Ltd. Capital Market Financing

Name Religare is a Latin word that translates as 'to bind together'. This name has been chosen to reflect the integrated nature of the financial services the company offers. Symbol The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for every 10,000 three-leaf clovers found.

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For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care. Good Fortune. For the world, it is the symbol of Religare. The first leaf of the clover represents Hope. The aspirations to succeed. The dream of becoming. Of new possibilities. It is the beginning of every step and the foundation on which a person reaches for the stars. The second leaf of the clover represents Trust. The ability to place ones own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all, not in the binding, but in the bond that is built. The third leaf of the clover represents Care. The secret ingredient that is the cement in every relationship. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all. The fourth and final leaf of the clover represents Good Fortune. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success. Hope. Trust. Care. Good Fortune. All elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.

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Accent usage The diacritical tilde mark ( ) over the letter A in the Religare typeface indicates a palatal emphasis sound of the letter A. Pronunciation religare (rel'i-gir)

Central Leadership Team Mr. Sunil Godhwani Chairman and Managing Director, Religare Enterprises Limited

Mr. Sunil Godhwani Chairman and Managing Director, Religare Enterprises Limited Mr. Shachindra Nath Group CEO, Religare Enterprises Limited Mr. Anil Saxena Group CFO, Religare Enterprises Limited Board of Directors - Religare Enterprises Limited
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Mr. Sunil Godhwani Chairman and Managing Director Mr Shachindra Nath Group CEO Mr. Anil Saxena Group CFO CEO's Mr. Anuj Gulati Chief Executive Officer Religare Health Insurance Co. Ltd.

Mr. Anuj Gulati Chief Executive Officer Religare Health Insurance Co. Ltd. Mr. Basab Mitra Chief Strategy Officer Religare Enterprises Limited Mr. Kamlesh Dangi Chief People Officer Religare Enterprises Limited Presidents/Managing Directors Mr. Amit Sarup President Religare Art & Family Office Religare Enterprises Limited

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Mr. Amit Sarup President Religare Art & Family Office Religare Enterprises Limited Mr. Chandan Kumar Sinha President - Insurance Projects Religare Enterprises Limited Mr. Pervez Bajan President & Financial Controller Religare Enterprises Limited Mr. Russell A. Stamets President and General Counsel Religare Enterprises Limited Mr. Sandeep Adukia President Capital Markets Finance Religare Finance Limited Mr. Suhas Harinarayanan Managing Director & Co Head Research Religare Capital Markets Ltd. Mr. Sunil Kumar Garg President, Treasury & Group Finance Religare Enterprises Limited Directors

Mr. G. Nagaraj Director & Chief Technology Officer Religare Enterprises Limited\ Mr. Kedar V. Wilankar Director - Human Resources Religare Enterprises Limited Mr. Mukesh Panika Director - Arts Initiative Religare Enterprises Limited Mr. Rajesh Doshi Director Compliance and Secretarial Religare Enterprises Limited

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Mr. Rajesh Sharma Director - Internal Audit Religare Enterprises Limited Ms. Rashmi Mohanty Director Treasury Operations Religare Enterprises Limited Mr. Subhrangshu Neogi Director - Brand & Corporate Communications Religare Enterprises Limited

We operate across multiple locations & countries.

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Business Profile Religare Enterprises, a Ranbaxy promoter group company, is the holding company for integrated financial services. The company was incorporated as a private limited company on Jan. 30, 1984 and the status changed to a public limited company on Aug11, 2006.

The company is the holding company for all businesses, structured and being operated through various subsidiaries. It offers a wide range of financial products and services across the three key business verticals of retail, wealth management and the institutional spectrum. Retail services include equity and commodities brokerage, personal financial services (including insurance brokerage and mutual fund distribution), LAS, personal loans, and internet trading. Wealth services include PMS, wealth advisory services and private client equity services (including international equity services). The Institutional services include institutional distribution services, investment banking and transaction advisory services. The subsidiaries of the company include Religare Securities, Religare Finevest, Religare Commodities, Religare Insurance Broking. Religare Venture Capital, Religare Realty, Religare Insurance Holding Company, Religare Finance, Religare Capital Markets and Religare Wealth Management Services. The company has a 50:50 joint venture with Australia`s Macquarie Bank for expanding its wealth management business in India.
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The company`s retail network is spread across more than 1,217 locations in more than 392 cities and towns. It operates from six regional offices and 25 sub-regional offices with business associates all over India and a representative office in London. The company is a member of the National Stock Exchange of India, Bombay Stock Exchange of India, depository participant with National Securities Depository and Central Depository Services India, and SEBI approved portfolio manager. The registered and corporate office of the company is located at 19, Nehru Place, NewDelhi-110019. Financials The Company swung to loss for the quarter ended December 2008. During the quarter, the company reported loss of Rs 38.42 million compared with a profit of Rs 22.36 million in the same quarter last year. Net sales declined 48.59% to Rs 26.69 million, while total income for the quarter rose 22.70% to Rs 63.86 million, when compared with the prior year period. It reported loss of Rs 0.50 a share as compared to profit of Rs 0.31 a share over the prior year period.

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Recent Developments 11-JUN-09 The company and Andhra Bank entered into a strategic tie-up offering Religare`s internet trading services platform to the bank`s customers.

26-MAR-09 The company`s 100% subsidiary, Religare Finevest (RFL) has deployed Nucleus Software Exports` Finn One suite to power its credit valuation, loan disbursal and collection processes across India.

23-JAN-09 Religare Macquarie, a joint venture (JV) between the company and Australia based Macquarie Group announced the launch of their wealth advisory services.

14-JAN-09 AEGON Religare Life Insurance, the insurance arm of the company announced the launch of AEGON Religare Pension Plan. The plan provides policy-holders with a regular pension post-retirement that will help them take care of their regular expenses.

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17-DEC-08 The company has announced that following the acquisition of 100% share holding in Lotus India Asset Management by Religare Securities, a wholly owned subsidiary of the company, Lotus has become a step down subsidiary of the company.

04-DEC-08 The company after receiving approval from market regulator, SEBI for restructuring its asset management company (AMC) business and also receiving the nod for acquiring and rechristening Lotus AMC has decided in principle to appoint Saurabh Nanavati as CEO for its AMC business. Ajay Bagga, the incumbent CEO of Lotus India AMC has decided to step down and will pursue other career opportunities.

26-NOV-08 The Company has wholly owned subsidiary, Religare Securities (RSL), has received clearance from SEBI to acquire the entire shareholding of Lotus India Asset Management Company (Lotus India AMC)from its share holders.

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24-NOV-08 The company and AEGON will restructure their asset management in order to take advantage of new business opportunities that have arisen in the Asia Pacific region and the desire of each partner to meet their strategic goals in the asset management area in the region.

Future Plans The company will use funds raised through the initial public offering IPO to expand domestic operations and network of branches, fund retail finance business, and expand financing activity.

Registered Office 25, Nehru Place, New Delhi, Delhi - 110019 Tel: 011-30815100, , , Fax: 011-66210195,

Registrar & Share Transfer Agent Karvy Computershare Private Ltd Cyber Vittalrao 500081, Villa, Nagar, Andhra Plot No.17-24, Tel

Hyderabad Pradesh.

:23420815-820 Fax : 23431551 Key Officials Name Sanjay V Padode Rahul Ranjan Designation Managing Director Asst. VP & Company Secretary

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Other Details Listings BSE Incorporation 29/09/1994 Public Issue Date 17/04/1995

Recent News And Analysis Date Headlines

21/06/2010 Religare Tech Glob - Disclosures under Reg.13(4) of SEBI (Prohibition of Insider Trading) Regulations, 1992 21/06/2010 Religare Tech Glob - Disclosures under Reg.13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992 28/05/2010 Religare Tech Glob - Disclosures under Reg.13(6) of SEBI (Prohibition of Insider Trading) Regulations, 1992 27/05/2010 Religare Tech Glob - Disclosures under Reg.13(4) of SEBI (Prohibition of Insider Trading) Regulations, 1992 27/05/2010 Religare Tech Glob - Limited Review for the quarter ended March 31, 2010

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LIFE INSURANCE AEGON RELIGARE Religare in partnership with Aegon, one of the world's largest life insurance and pension groups, operates its Life Insurance business in India under a Joint venture, Aegon Religare Life Insurance Company Limited. This venture is dedicated to build a firm future, both for customers and employees and will continue to balance a local approach with the power of an expanding global operation. AEGON Religare Life Insurance launched its panIndia multi-channel operations in July, 2008 with over 30 branches spread across India. The business philosophy is to help people plan their life better and also provide high quality advice to customers and offer a superlative overall service experience. True to its stance of being "Refreshingly Different", powered by innovation, and bringing industry "firsts", AEGON Religare Life Insurance offers policy servicing on the phone via Interactive Voice Response System (IVR) by issuing the customer a T-Pin for authentication. It is also the first company to include the customer's medical report in the policy kit.

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ASSET MANAGEMENT Religare Asset Management Company Limited is a wholly owned subsidiary of Religare Securities Limited (RSL), which in turn is a 100% subsidiary of Religare Enterprises Limited. It operates out of 60* locations across 57 cities in India. As on 31st May 2010, the AMC has an Average AUM of over INR 154 bn with over 230,000 investor folios.

INSURANCE SOLUTIONS Religare with one of the largest retail networks in the country offers a complete range of insurance solutions though its 100% subsidiary company, Religare Insurance Broking Limited (RIBL). The company holds a composite broker's license operating in the Life, General and Reinsurance domains.

An insurance portfolio is designed from a choice of more than 3000 life and general insurance products & plans from more than 30 companies. This one easy window for any brand of insurance, any kind of cover, offers tailor made insurance solutions with not just the right kind of cover but also the right mix of cover.

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Offerings include:
o o o o o o o

Life Insurance Pure Insurance Solutions Investment Linked Plans Guaranteed Saving Plans General Insurance Motor Insurance Health Insurance Program Travel Protection Schemes Package Policies for SMEs

LOANS Structurally all business are operated through various subsidiaries held through the holding company Religare Enterprises Limited. One such wholly owned subsidiary of REL is Religare Finvest Limited registered with the Reserve Bank of India as a NonBanking Finance Company (NBFC) and is a Member of CDSL. Religare Finvest Limited offers loans for all your needs.

SME loans As businesses grow, so do their needs. Whether it is for new equipment or inventory acquisition, new marketing efforts or pure working capital needs, SME Loans from Religare Consumer Finance can provide the money your company needs to thrive.

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Commercial Vehicle Loans Transportation is an essential part of any business and its growth, hence now with Religare Consumer Finance you can avail Commercial Vehicle loans for both new and used threewheeler, multi utility vehicle, light and heavy commercial vehicles and high end cranes which includes LCV's, Tractor Trailers, Buses etc. Construction Equipment finance India is growing at a fast pace, to develop it's infrastructure with the same pace Religare Consumer Finance offers loans for purchase of new and used Construction Equipments and all earth moving machinery which includes JCB, Excavators,

Backhoe/wheel Loaders etc. Loan Against Property You may be a Manufacturer, a Wholesaler, a Retailer, or an Exporter / Importer or a Self Employed Professional; Religare Consumer Finance offers the best and hassle free way to en-cash the value of your Residential or Commercial property to finance your personal or business requirements. The Religare Edge

Tailor made solutions to meet your requirement Quick & hassle free services Easy documentation Competitive rates of Interest
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Insurance Advisory Religare Insurance Broking Limited (RIBL), a Religare Enterprises Limited venture is one of India's leading insurance broking firms, with one of the largest retail networks in the country. The company holds a composite broker's license operating in the Life, General and Reinsurance domains.

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CHAPTER IV

DATA ANALYSIS

& INTERPRETATION

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ANALYSIS AND INTERPRETATION Table No: 1

Age of respondents Age 20 30 31 45 46 & above Total No. of respondents 30 45 25 100 Percentage 30.0 45.0 25.0 100.0

INFERENCE: The above table shows that majority of 45% of the respondents belongs to the age group of 31 to 45 and 30% of the respondents lies between 20 to 30 age group. 25% of the respondents fall from the age group of 46 and above. The study reveals that all the

respondents all age group level are well capable of assessing the quality of their work life.

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Table No. 2

Experience of the respondents Experience Below 1 year 1 5 years 5 10 years Above 10 years Total No. of Respondents 19 24 57 100 Percentage 19 24 57 100

INFERENCE: The above table shows that majority of 57% of the respondents are with an experience of more than 10 years and 24% are 5 to 10 years of experience. 19% of the respondents are with 1-5 years

experience. No respondent is less experienced. The study reveals that all the respondents are well experienced, so they are well capable of assessing the quality of their work life.

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Table No 3 Income level of the respondents Income Level Below Rs. 5,000 Rs. 5,000 Rs.10,000 Rs. 10,000 Rs.20,000 Above Rs. 20,000 Total No. of Respondents 38 59 3 100 Percentage 38 59 3 100

INFERENCE:

The above the table shows that as much as 82 per cent of the respondents are in the higher income group of more than Rs. 10,000 income per month. Hence it can be inferred that monetary benefits are not a constraint to assess the quality of work life, in the study unit.

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Table No 4 Using skills and abilities to perform the job Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 46 51 2 1 100 Percentage 46 51 2 1 100

INFERENCE:

The above the table states that as much as 97% of workers in the study unit were of the opinion that their job enables them to use their skills and abilities in full. Only 3% of them disagreed to this point. Hence it can be inferred that the work in the study unit is such that which allows almost all the workers to use their skill and ability in full.

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Table No 5

Equal treatment at work place Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 43 57 100 Percentage 43 57 100

INFERENCE: The above the table shows that no harm is done to the selfrespect of the workers in the study unit. 43% of the respondents strongly agreed to the statement and 57% of the respondents also opinioned that the workers are treated equally with respect at their work places. Thus it can be concluded that the organization provides equal treatment at work place.

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Table No 6 Conditions on my job allows me to be productive Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 46 51 2 1 100 Percentage 46 51 2 1 100

INFERENCE:

From the above table it can be understood that almost 97% all the workers in the study unit either agree or even strongly agree that the conditions on their job allow them to be productive. Only 3% of them were of negative opinion. Thus, it is clear that the conditions on job are congenial to raise the productivity of the workers which is very essential for both the management and workers to achieve their objectives of higher productivity.
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Table No 7 Opportunity to develop special abilities Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 25 63 12 100 Percentage 25 63 12 100

INFERENCE: The above table states that 25% of the workers strongly agree to the point that there are adequate opportunities to develop their own special abilities in the work place. 63% of the respondents agree to it only to some extent. Only 12% of the workers find no such opportunities in the study unit. Hence, it can be inferred that the opportunities available in the workplaces to develop the special abilities of the workers is satisfactory. No doubt in the improvement of special abilities would definitely improve the quality of work life in the study unit.
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Table No 8

Organisations provides enough guidance to get the job done Opinion Strongly Agree Agree Disagree Strongly Disgree Total No. of Respondents 24 58 17 1 100 Percentage 24 58 17 1 100

INFERENCE: The above table shows that 82% of the workers in the study unit are satisfied with the guidance provided to them by the

superiors/managers to get the work done easily. 18% of the respondents disagreed to accept it. Hence, it con be inferred that guidance to work, which is essential for the quality work life which is provide at the work place in the study unit.

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Table No 9 Organization provides high quality tools and techniques to do the job Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 65 32 3 100 Percentage 65 32 3 100

INFERENCE: As shown in the table, the opinion of the respondents as regard to the positive factors of the high quality tools and techniques required to perform the job. 65% of the respondents very strongly agree & with the provisions made to utilize quality tools and techniques to perform the job, and 32% of the respondents also agree with then statements, are hand only 3 per cent of the respondents are refused to accept it. Hence it can be concluded that there is positive attitude towards the provisions of tools techniques.
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Table No 10

Opportunities for promotion are good Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 20 52 27 1 100 Percentage 20 52 27 1 100

INFERENCE: As shown in the table, the opinion of the respondents as regard to the chances for promotion is not appreciable compared to other determinants of quality of work life. Only 72% of the respondents has agreed that the chances for promotion are good in the study unit where as, as much as 28% of the workers refused it. Hence, it can be concluded that the chances for promotion are not attractive among the workers even though majority of them agree to it.
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Table No 11 The safety of workers is at high priority Opinion Yes No Total No. of Respondents 59 41 100 Percentage 59 41 100

INFERENCE:

As pointed out in the table, 59% of the respondents opinioned that high priority was assumed to safety at work place and other side of the coin reflects 41% of the respondents disagreed. Hence, it can be concluded that the safety towards the employees need to be concentrated highly to ensure safe and secured work life.

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Table No 12

Infrastructure facilities are Good Opinion Yes No Total No. of Respondents 90 10 100 Percentage 90 10 100

If Yes which of the following do you like Opinion First aid Canteen Lightening and ventilation Others Total No. of Respondents 7 27 56 10 100 Percentage 7 27 56 10 100

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INFERENCE: Above table shows that 56% of the respondents are satisfied with lightening and ventilation facilities provided in the work place, followed by 27% satisfied with canteen facilities and 7% of the respondents opinioned on first aid facilities, 10% of the respondents opinioned on others includes drinking water, rest rooms etc.

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Table No 13 Fringe benefits are good in the organization Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 28 56 15 1 100 Percentage 28 56 15 1 100

INFERENCE: As shown in above table 34% of the workers accept that the fringe benefits offered to them are good and enough to their expectations. As much as 56% were of the opinion that the fringe benefits are somewhat good, though not up to their expectations. The remaining 16% were of the opinion that the fringe benefits offered in the study unit are not at all up to their expectations. Hence it can be concluded that the fringe benefits offered in the study unit, in general, are not up to the expectation of the workers.

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Table No - 14 The supervisor is concerned about the welfare of the workers Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 25 45 25 5 100 Percentage 25 45 25 5 100

INFERENCE:

As the above table states that the attitude of the supervisor towards the welfare of the workers is positive for 70% of the workers only. The remaining 30% were of the opinion that the attitude of their supervisor was not in favour of their welfare. Thus the attitudes of the supervisors are not satisfactory and it is a hurdle in the assessment of the quality of work life in the study unit.

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Table No 15

Job security Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 53 46 1 100 Percentage 53 46 1 100

INFERENCE: The above table shows that 53% of the workers strongly feel that there is security for their job and only one worker feel that there is no security for the job. Job security is the vital factor to access the quality of the work life in any organization. Since the job security in the study unit ensures that there are majority chances for good performance and as a result the quality of work life is up to the expectation.
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Table No 16 Helping tendencies of supervisor Opinion Strongly Agree Agree Disagree Strongly Disagree Total INFERENCE: From the above table, it can be understood that the helping tendency of the supervisor is not up to the expectations of the respondents as only 33% of them strongly accept that the supervisors are lending their helping hands always. 54% of the workers are the view that the supervisor are helping at times are not always. The remaining 13% are of the opinion that they are not at all helped by their supervisor. The helping tendencies of the supervisors No. of Respondents 33 54 11 2 100 Percentage 33.0 54 11 2 100

determine the quality of work life in any organization, it is up to the required expectations level of the workers in the study unit.
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Table No 17 Training opportunities helped in terms of improving the quality of work Opinion Strongly Agree Agree Disagree Strongly Disagree Total INFERENCE: The above the table states that only 30% of the workers strongly accept that there are training opportunities in the study unit, which helps them to perform their job safely and competently. 54% of the workers accept to some extent that the training opportunities are available and helpful. The remaining 17% were of the opinion that they had no such opportunities. Training is very essential for quality of work life in any organization. No. of Respondents 30 54 15 1 100 Percentage 30 54 15 1 100

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Table No 18 Employees opinion about work stress Opinion Always Often Sometimes Never Total No. of Respondents 29 64 6 1 100 Percentage 29 64 6 1 100

INFERENCE: The above table shows that except only one worker of all the 99 workers are of the opinion that their work is stressful one. Among them, 29% of the workers opinioned that the stress is always there in the work and a vast majority of 64% feels that they often find their work stressful. Only 6% of the workers have stated that their work is stressful sometimes and not always. Hence it can be inferred that the work is stressful one, which if allowed uncontrolled will spoil the quality of work in the study unit.

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Table No 19 Employees opinion on work schedule Opinion First Shift Second Shift Third Shift General Shift Total No. of Respondents 65 4 0 31 100 Percentage 65 4 0 31 100

INFERENCE:

From the table 69% of workers are satisfied with first shift, 31% of workers are satisfied with general shift and 4% of the workers opinioned on second shift. Hence the majority of the respondents accepts with their first shifts.

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Table No 21- Accepting suggestions by the supervisors Opinion Strongly Agree Agree Disagree Strongly Disagree Total INFERENCE: Above the table 35% of the workers opinioned that their supervisors are always accept their suggestions and get positive motivations from them. 58% state that their supervisors accept their suggestions sometimes and not always. The remaining 14% reveals that their supervisors never lend their ears to their suggestions. So, these workers were motivated negatively by their supervisors. Though there is no need for the supervisors to accept all the suggestions offered by the workers yet they shall not be motivational exists in the study unit in the form of discarding the suggestions made by the workers. No. of Respondents 35 51 12 2 100 Percentage 35 51 12 2 100

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Table No 22 Proud to be a part of RELIGARE ENTERPRISES LIMITED. Opinion Strongly Agree Agree Disagree Strongly Disagree Total No. of Respondents 81 18 1 100 Percentage 81 18 1 100

INFERENCE:

The above table shows that except only one worker, all the 99% of the workers are of the opinion that they are very proud to work in the study unit. Thus the image of the study unit in the minds of the workers is very high, which is very essential for improving the quality of work life in it.

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Chi - Square Test I Table 23 Opinion about promotions and the experience of the workers.

Experience Strongly Level Agree 5 1 -5 years (3.8) 5 10 years 3 (4.8) 12 >10 years (11.4) Total 20

Agree 9 (9.9) 11 (12.5) 32 (29.6) 52

Disagree 5 (5.1) 10 (6.5) 12 (15.4) 27

Strongly Disagree 0 (0.2) 0

Total 19

24 (0.2) 1 57 (0.6) 1 100

HYPOTHESIS:

There is no significant relationship between the experience level of workers and their opinion about promotions.

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Degree of Freedom [d.f] = (r-1) (c-1)

= (4 -1) (3 1)

= 3*2 = 6

Significance level of 6 at 5%

Calculated value [C.V] = 4.944

Table value [T.V]

= 12.592

Conclusion:

Since the calculated value is less than the table value, the null hypothesis is accepted. So it is proved that there is no

significant relationship between the experience level of workers and their opinion about promotions
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Chi - Square Test II Table 24 Opinion about fringe benefits and income level of the workers. Income Level 500010000 1000020000 Strongly Agree Agree 8 (10.6) 20 (16.5) 0 >20000 (0.8) Total 28 (1.7) 56 (0.5) 15 (0.0) 1 100 22 (21.3) 32 (33.0) 2 Strongly Disagree 0 38 (5.7) 6 (8.9) 1 (0.4) 1 59 (0.6) 0 3

Disagree 8

Total

HYPOTHESIS: There is no significant relationship between the opinion of respondents with different income level and their opinion on fringe benefits.

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Degrees of Freedom[d.f] = (r-1) (c-1)

= (4 -1) (3 1)

= 3*2 = 6

Significance level of 6 at 5%

Calculated value [C.V]

= 5.559

Table value [T.V]

= 12.592

CONCLUSION:

Since the calculated value is less than the table value, the null hypothesis is accepted. So it is proved that there is no

significant relationship between the opinion of respondents with different income levels and their opinion on fringe benefits.

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Chi Square Test III Table 25

Opinion about the opportunities provided in the organization to develop the employees abilities and their equal treatment at work place.

Equal Treatment at work place. Strongly Agree

Strongly Agree 25 (10.8) 0

Agree 14 (27.1) 49 (35.9) 63

Disagree Total 4 43 (5.2) 8 57 (6.8) 12 100

Agree (14.2) Total 25

HYPOTHESIS:

There is no significant relationship between the equal treatment of workers and their opportunities to develop their own abilities in the organization.

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Degrees of Freedom[d.f] = (r-1) (c-1)

= (3 -1) (2 1)

= 2*1 = 2

Significance level of 2 at 5%

Calculated value [C.V] Table value [T.V]

= 44.694 = 5.991

CONCLUSION:

Since the calculated value is higher than the table value, the null hypothesis is rejected. So it is proved that there is significant relationship between the equal treatment of workers and their

opportunities to develop their own abilities in the organization.

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Chi Square Test IV Table 26

Opinion about the Employees Priority to Safety and Their Acceptance of Suggestions by their Superiors. Employees opinion prior to safety Yes (20.7) 19 No (14.4) Total 35 (20.9) 51 (4.9) 12 (0.8) 2 100 (30.1) 18 (8) 4 (2) 0 41

Strongly Strongly Agree Disagree Total Agree Disagree 16 33 8 2 59

HYPOTHESIS:

There is no significant relationship between the employees opinion on priority to safety and their acceptance of suggestion by their superior.

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Degrees of Freedom[d.f] = (r-1) (c-1)

= (4 -1) (2 1)

= 3*1 = 3

Significance level of 3 at 5%

Calculated value [C.V]

= 4.922

Table value [T.V]

= 7.815

CONCLUSION:

Since the calculated value is lesser than the table value, the null hypothesis is accepted. So it is proved that there is no

significant relationship between the employees opinion on priority to safety and their acceptance of suggestion by their superior.
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Weighted Average Method: Table 27

Employees perception on motivational insights

Rank (1-5) Insights 5 Interest in work Recognition Award and Rewards Compensation Friendly Coworkers 28 34 9 10 19 4 26 24 22 12 16 3 26 1 23 20 21 2 14 16 24 17 29 1 6 16 22 41 15 100 100 100 100 100 Total

Weighted average method = (X1W1 + X2W2 + X3W3 + --------)/N

a.

Interest work = (28*5 + 26*4 + 26*3 + 14*2 + 6*1)/N = (140 + 104 + 78 + 28 + 6)/100

= 356/100 = 3.56
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b. Recognition

= (34*5 + 24*4 + 10*3 + 16*2 + 16*1)/N

= (170 + 96 + 30 + 32 + 16)/100

= 344/100 = 3.44
c.

Awards &Rewards = (9*5 + 22*4 + 23*3 + 24*2 + 22*1)/N = (45 + 88 + 69 + 48 + 22)/100

= 272/100 = 2.72

d.

Compensation = (10*5 + 12*4 + 20*3 + 17*2 + 14*1)/100 = (50 + 48 + 60 + 34 + 41)/100

= 233/100 = 2.33
e.

Friendly Co-workers

= (19*5 + 16*4 + 21*3 + 39*2 + 15*1)/100

= (95 + 64 + 63 + 58 + 15)/100

= 295/100 = 2.95
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Rank Weighted Average Score

Rank I II III VI V

Weighted Average 3.56 3.44 2.95 2.72 2.33

Attributes Interest in work Recognition Friendly Coworkers Awards and Rewards Compensation

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INFERENCE:

From the table it is clear that among the motivational insights factors interest in work ranks the top with 356 points resulting an average of 3.56 followed by recognition with 344 points weighing an average of 3.44. It reveals that both the management and the

workers are in mutual understanding as the interest in the work ranks high and the recognition of the workers ability and skill by the management is also at high level.

The motivational factors like awards and rewards, compensation and friendliness with co-workers rank less than the general average of 3. It envisages that the management needs concentration on awarding rewards and in paying compensation where as the workers shall develop friendliness with their co-workers to make the work life a quality one.

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CHAPTER V

FINDINGS, SUGGESTIONS

& CONCLUSIONS

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FINDINGS FROM THE STUDY The following findings were observed: From the table 1, it is inferred that majority of 45% of the respondents belongs to the age group of 31 to 45 and 30% of the respondents lies between 20 to 30 age group. 25% of the respondents fall from the age group of 46 and above. From the table 2, it is inferred that majority of 57% of the respondents are with an experience of more than 10 years and 24% are 5 to 10 years of experience. 19% of the

respondents are with 1-5 years experience. No respondent is less experienced. From the table 3, it is inferred that as much as 82 per cent of the respondents are in the higher income group of more than Rs. 10,000 income per month. From the table 4, it is inferred that as much as 97% of workers in the study unit were of the opinion that their job enables them to use their skills and abilities in full. Only 3% of them disagreed to this point.
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From the table 5, shows that no harm is done to the selfrespect of the workers in the study unit. 43% of the respondents strongly agreed to the statement and 57% of the respondents also opinioned that the workers are treated equally with respect at their work places.

From the table 6, it is inferred that almost 97% all the workers in the study unit either agree or even strongly agree that the conditions on their job allow them to be productive. Only 3% of them were of negative opinion.

From the table 7, it is inferred that 25% of the workers strongly agree to the point that there are adequate opportunities to develop their own special abilities in the work place. some extent. 63% of the respondents agree to it only to Only 12% of the workers find no such

opportunities in the study unit.

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From the table 8, it is inferred that 82% of the workers in the study unit are satisfied with the guidance provided to them by the superiors/managers to get the work done easily. 18% of the respondents disagreed to accept it.

From the table 9, it is inferred that the opinion of the respondents as regard to the positive factors of the high quality tools and techniques required performing to do the job. 65% of the respondents very strongly agree & with the provisions made to utilize quality tools and techniques to perform the job, and 32% of the respondents also agree with the statements, and only 3% of the respondents are refused to accept it.

From the table 10, it is inferred that the opinion of the respondents as regard to the chances for promotion is not appreciable compared to other determinants of quality of work life. Only 72% of the respondents have agreed that the chances for promotion are good in the study unit where as, as much as 28% of the workers refused it.

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From the table 11, it is inferred that 59% of the respondents opinioned that high priority was assumed to safety at work place and other side of the coin reflects 41% of the respondents disagreed.

From table 12, it is inferred that 56% of the respondents are satisfied with lightening and ventilation facilities provided in the work place, followed by 27% satisfied with canteen facilities and 7% of the respondents opinioned on first aid facilities, 10% of the respondents opinioned on others includes drinking water, rest rooms etc.

From the table 13, it is inferred that 34% of the workers accept that the fringe benefits offered to them are good and enough to their expectations. As much as 56% were of the opinion that the fringe benefits are somewhat good, though not up to their expectations. The remaining 16% were of the opinion that the fringe benefits offered in the study unit are up to their expectations.

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From the table 14, it is inferred that the attitude of the supervisor towards the welfare of the workers is positive for 70% of the workers only. The remaining 30% were of the opinion that the attitude of their supervisor was not in favour of their welfare.

From the table 15, it is inferred that 53% of the workers strongly feel that there is security for their job and only one worker feel that there is no security for the job.

From the table 16, it is inferred that the helping tendency of the supervisor is not up to the expectations of the respondents as only 33% of them strongly accept that the supervisors are lending their helping hands always. 54% of the workers are the view that the supervisor are helping at times are not always. The remaining 13% are of the opinion that they are not at all helped by their supervisor.

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From the table 17, it is inferred that only 30% of the workers strongly accept that there are training opportunities in the study unit, which helps them to perform their job safely and competently. 54% of the workers accept to some extent that the training opportunities are available and helpful. The remaining 17% were of the opinion that they had no such opportunities.

From the table 18, it is inferred that except only one worker of all the 99 workers are of the opinion that their work is stressful one. Among them, 29% of the workers opinioned that the stress is always there in the work and a vast majority of 64% feel that they often find their work stressful. Only 6% of the workers have stated that their work is stressful sometimes and not always.

From the table 19, it is inferred that 69% of workers are satisfied with first shift, 31% of workers are satisfied with general shift and 4% of the workers opinioned on second shift.

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From the table 20, it is inferred that 35% of the workers opinioned that their supervisors are always accept their suggestions and get positive motivations from them. 58% state that their supervisors accept their suggestions sometimes and not always. The remaining 14% reveals that their supervisors never lend their ears to their suggestions. So, these workers were motivated negatively by their supervisors.

From the table 21, it is inferred that shows that except only one worker, all the 99% of the workers are of the opinion that they are very proud to work in the study unit. Thus the image of the study unit in the minds of the workers is very high, which is very essential for improving the quality of work life in it.

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SUGGESTIONS AND RECOMMENDATIONS The employees of RELIGARE ENTERPRISES LIMITED expecting the following from the company. i. ii. Improvement in rewarding and awarding policies. Introduction of Promotion policy at operation level.

Employees need high motivation from the top management of the company.

Employees needs more compensation from the company Employees expects mutual relationship between co-workers Employees needs special training from the company related to their job during working period.

Employees expects the quality of work to be measured periodically be the company

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CONCLUSION From the study, it is clear that quality of work life of employees in RELIGARE ENTERPRISES LIMITED., is good. This research highlights some of the small gaps in employees satisfaction towards the company. Compared to other companies believe in employees satisfaction and brilliant productivity hours. Quality mission includes not only the quality of the products but also the Quality of Work Life. RELIGARE ENTERPRISES LIMITED aims to promote the peaceful industrial relations and good organization which is highlighted by management and the employees. Since employees are the backbone of the company. So

company should satisfy them in order to improve the business in the higher competitive market of the liberalized economy.

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CHAPTER VI

BIBLIOGRAPHY

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REFERENCES BOOKS: 1. K. Aswathappa (1997), Human Resources and Personal Management Tata Mcgraw-Hill Publishing Company

Limited, New Delhi 110 001. 2. John M. Ivancevich (2003), Human Resources and Personal Management Tata Mcgraw-Hill Publishing Company

Limited, New Delhi 110 001. 3. C. R. Kothari (2001) Research Methodology of Wishwa Prakashan Publishing, Chennai 17, Edition 4. C. B. Mamoria and S. V. Gankar (2001), Personnel Management Text & Cases, Himalaya Publishing house Mumbai, XXI Edition. 5. R.S.N. Pillai and V. Bhagavathi (1998), Statistics of Sultan Chand and sons, New Delhi, pp. 132-141, II Edition. 6. Biswaject pattanayak (2001), Human Resources and Personal Management Prentice Hall of India Pvt., Ltd. New Delhi.
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WEBSITES: www.google.com www.religare.com

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