Summer Training Project Report

On

“A Study on Level of Employee Satisfaction at

Jindal Steel and Power Limited (JSPL) in New

Delhi City”

Towards partial fulfillment of

Master of Business Administration (MBA)
(BBD University, New Delhi)

Guided By: Submitted by:

Dr. Surendra Kumar PRASHANT SINGH
Roll No. 1170672006

Session 2018-2019

School of Management

Babu Banarasi Das University

Sector I, Dr. Akhilesh Das Nagar, Faizabad Road, New Delhi (U.P.) India

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 DECLARATION

I hereby declare that the project report entitled “A Study on Level of Employee

Satisfaction at Jindal Steel and Power Limited (JSPL) in New Delhi City” is

the produce of my sincere effort. This research Project Report is being submitted by

me at “BBD University, Lucknow” for the Partial fulfillment of the course I.M.B.A.

and the report has not been submitted to any other educational institution for any other

course.

Prashant Singh
Roll no. - 1140675040

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 ACKNOWLEDGEMENT

I feel deeply indebted towards people who have guided me in this project. It would

have not have been possible to make such an extensive report without the help,

guidance and input from them.

I would firstly like to express my gratitude towards faculty guide Dr. Shweta

Srivastava and Dean/incharge Dr. Sushil Pande of school of management for

having shown much of flexibility and guiding in such a way that I really learning the

subject all the time . He helped me in deciding the project topic. He showed a lot of

openness in her approach and I would like to thank him for her support in a way that

has lead to proper & effective learning.

Last but not least I am great full to all my family members & my friends for being my

side always. Without their help and motivation it wouldn‟t have been possible to

complete my project.

PRASHANT SINGH

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 EXECUTIVE SUMMARY

Someone has rightly said that practical experience is far better and closer to the real

world than theoretical exposure. The practical experience helps the students to view

the real business world closely, which in turn widely influences their perceptions and

arguments their understanding of the real situation.

This project is on A Study on Level of Employee Satisfaction at Jindal Steel and

Power Limited (JSPL) in New Delhi City.

Research is the crucial but expensive component of human resource development

(HRD). It is a planned effort to improve the performance efficiency and effectiveness

of members of organization. Training is teaching, or developing in oneself or others,

any skills and knowledge that relate to specific useful competencies. Training has

specific goals of improving one's capability, capacity, productivity and performance.

The performance improvement may be effected through planned learning and transfer

of such learnt knowledge, skills and attitude to work place.

Job performance is the way employees perform their work. An employee‟s

performance is determined during job performance reviews, with an employer taking

into account factors such as leadership skills, time management, organizational skills

and productivity to analyze each employee on an individual basis.

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 TABLE OF CONTENT

 Declaration
 Acknowledgement
 Executive Summary

Sl. No. Contents Page No.

1. Introduction 1

2. Company Profile 41

3. Scope of the study 104

4. Objectives of the study 106

5. Research Methodology 108

6. Problems and Limitations 112

7. Data Analysis & Interpretations 114

8. Findings 127

9. Suggestions/Recommendations 129

10. Conclusion 131

Bibliography

Appendix

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 CHAPTER-1
INTRODUCTION

1
 INTRODUCTION

Employee Satisfaction is a subjective indicator that indicates how

contented an individual feels while performing his/her duties. It is

subjective in the sense that it cannot be defined by a single

measurement alone. It is the amount of pleasure or contentment associated

with a job. If you like your job intensely, you will experience high job

satisfaction. If you dislike your job intensely, you will experience job

dissatisfaction. Job satisfaction is an individual emotional reaction to the

job itself. It is his attitude towards his job. Hoppack introduced the term

„Employee Satisfaction‟ in 1953 in his book on job-satisfaction . Hoppack

defined job satisfaction as „any combination of psychological, physiological

and environmental circumstances that make a person say I am satisfied

with the job.‟ The definition is vague in so far as there are many

parameters used by Hoppack. According to Weiss and Cropanzano (1996),

Employee Satisfaction represents a person's evaluation of one's job and

work context. This definition is still being debated. It captures the most

popular view that Employee Satisfaction is an evaluation and represents both

belief and feelings. It is an appraisal of the perceived job characteristics

and emotional experience at work. Satisfied employees have a favourable

evaluation of their job, based on their observations and emotional experiences.

Saleh (1981) states that job satisfaction is a feeling which is a function of the

perceived relationship between all that one wants from his job/life and all that

one perceives as offering or entailing. The emphasis here is on all that one

2
wants, whether it is important for self-definition or not. Luthans (1989) states

that job satisfaction is a pleasurable, or positive emotional state resulting from

the appraisal of one's job, or job experience, and is the result of the employee's

perception of how well the job provides those things which are viewed as

important. Locke (1976) states that job satisfaction is a collection of attitudes

about specific facets of the job. Employees can be satisfied with some elements

of the job while being simultaneously dissatisfied with others. Different types

of satisfaction will lead to different intentions and behaviour. An employee

might complain to the supervisor when dissatisfied with low pay but not with

coworker dissatisfaction. Overall job satisfaction is a combination of the

person's feeling towards the different facets of job satisfaction. He argues that

the more important factors conducive to job satisfaction are mentally

challenging work, equitable rewards, supportive working conditions, and

supportive colleagues. One can also add the importance of good personality--

job fit and an individual's genetic disposition (some people are just inherently

upbeat and positive about all things including their job). Employees are

concerned with their work environment for both personal comfort and how it

facilitates doing a good job. People get more out of work than merely money or

tangible achievements. For most employees, work also fills the need for social

interaction. Not surprisingly, therefore, having friendly and supportive co-

workers leads to increased job satisfaction.

3
 Today an organization having a good inventory of human resources and a

dynamic personnel department is prospective one. So the technique and

functions of personnel management have now come closely integrated with the

overall organization strategies n search of excellence According to the job

satisfaction for employer and working. These are:

* Job-nature of work (dull, dangerous, interesting), hours of work, fellow

workers, opportunities on the job for promotion and advancement (prospects),

overtime regulations, interest in work, physical environment, and machines

and tools.

* Management- supervisory treatment, participation, rewards and punishments,

praises and blames, leaves policy and favoritism.

* Social relations- friends and associates, neighbors, attitudes towards people in

community, participation in social activity scalability and caste barrier.

* Personal adjustment-health and emotionality.

* Job satisfaction is an important indicator of how employees feel about their

job and a predictor of work behavior such as organizational citizenship,

Absenteeism, Turnover.

* Job satisfaction benefits the organization includes reduction in complaints

and grievances, absenteeism, turnover, and termination; as well as improved

punctuality and worker morale

* Job satisfaction is also linked with a healthier work force and has been found

to be a good indicator of longevity.

4
* Job satisfaction is not synonyms with organizational morale, which the

possessions of feeling have being accepted by and belonging to a group of

employees through adherence to common goals and confidence in desirability

of these goals.

5
Maslow's Hierarchy of Needs

If motivation is driven by the existence of unsatisfied needs, then it is

worthwhile for a manager to understand which needs are the more important

for individual employees. In this regard, Abraham Maslow developed a model

in which basic, low-level needs such as physiological requirements and safety

must be satisfied before higher-level needs such as self-fulfillment are pursued.

In this hierarchical model, when a need is mostly satisfied it no longer

motivates and the next higher need takes its place. Maslow's hierarchy of needs

is shown in the following diagram:

Maslow's Hierarchy of Needs

Self-Actualization

Esteem Needs

Social Needs

Safety Needs

Physiological Needs

6
Physiological Needs

Physiological needs are those required to sustain life, such as:

 air

 water

 nourishment

 sleep

According to Maslow's theory, if such needs are not satisfied then one's

motivation will arise from the quest to satisfy them. Higher needs such as

social needs and esteem are not felt until one has met the needs basic to one's

bodily functioning.

Safety

Once physiological needs are met, one's attention turns to safety and

security in order to be free from the threat of physical and emotional harm.

Such needs might be fulfilled by:

 Living in a safe area

 Medical insurance

 Job security

 Financial reserves

According to Maslow's hierarchy, if a person feels that he or she is in

harm's way, higher needs will not receive much attention.

Social Needs

7
 Once a person has met the lower level physiological and safety needs,

higher level needs become important, the first of which are social needs. Social

needs are those related to interaction with other people and may include:

 Need for friends

 Need for belonging

 Need to give and receive love

Esteem

Once a person feels a sense of "belonging", the need to feel important

arises. Esteem needs may be classified as internal or external. Internal esteem

needs are those related to self-esteem such as self respect and achievement.

External esteem needs are those such as social status and recognition. Some

esteem needs are:

 Self-respect

 Achievement

 Attention

 Recognition

 Reputation

Maslow later refined his model to include a level between esteem needs

and self-actualization: the need for knowledge and aesthetics.

Self-Actualization

Self-actualization is the summit of Maslow's hierarchy of needs. It is the

quest of reaching one's full potential as a person. Unlike lower level needs, this

8
need is never fully satisfied; as one grows psychologically there are always

new opportunities to continue to grow.

Self-actualized people tend to have needs such as:

 Truth

 Justice

 Wisdom

 Meaning

Self-actualized persons have frequent occurrences of peak experiences,

which are energized moments of profound happiness and harmony. According

to Maslow, only a small percentage of the population reaches the level of self-

actualization.

Implications for Management

If Maslow's theory holds, there are some important implications for

management. There are opportunities to motivate employees through

management style, job design, company events, and compensation packages,

some examples of which follow:

 Physiological needs: Provide lunch breaks, rest breaks, and wages that

are sufficient to purchase the essentials of life.

 Safety Needs: Provide a safe working environment, retirement benefits,

and job security.

9
  Social Needs: Create a sense of community via team-based projects and

social events.

 Esteem Needs: Recognize achievements to make employees feel

appreciated and valued. Offer job titles that convey the importance of

the position.

 Self-Actualization: Provide employees a challenge and the opportunity

to reach their full career potential.

However, not all people are driven by the same needs - at any time

different people may be motivated by entirely different factors. It is important

to understand the needs being pursued by each employee. To motivate an

employee, the manager must be able to recognize the needs level at which the

employee is operating, and use those needs as levers of motivation.

10
 JOB SATISFACTION

Job satisfaction is not the same as motivation. It is more if an attitude, an internal

state of the person concerned. It could, for example, be associated with a

personal feeling of achievement.

Job satisfaction is an individual‟s emotional reaction to the

job itself. It is his attitude towards his job.

Definitions:

“Job satisfaction does not seem to reduce absence, turnover and perhaps

accident rates”.

-Robert L. Kahn

“Job satisfaction is a general attitude towards one‟s job: the difference between

the amount of reward workers receive and the amount they believe they should

receive.”

-P. Robbins

Job satisfaction defines as “The amount of overall positive affect (or feeling)

that individuals have toward their jobs.”

-Hugh J. Arnold and Daniel C. Feldman

11
“Job satisfaction is the amount of pleasure or contentment associated with a

job. If you like your job intensely, you will experience high job satisfaction. If

you dislike your job intensely, you will experience job dissatisfaction.”

By Andrew J DuBrins,

The practice of supervision, New Delhi

Job satisfaction is one part of life satisfaction. The environment influences the

job. Similarly, since a job is important part of life, job satisfaction influences

one‟s general life satisfaction. Manager may need to monitor not only the job

and immediate work environment but also their employees attitudes towards

other part of life.

JOB FAMILY

POLITICS LIFE LEISURE

RELATED ELEMENT OF LIFE SATISFACTION

12
Human life has become very complex and completed in now-a-days. In modern

society the needs and requirements of the people are ever increasing and ever

changing. When the people are ever increasing and ever changing, when the

peoples needs are not fulfilled they become dissatisfied. Dissatisfied people are

likely to contribute very little for any purpose. Job satisfaction of industrial

workers us very important for the industry to function successfully. Apart from

managerial and technical aspects, employers can be considered as backbone of

any industrial development. To utilize their contribution they should be

provided with good working conditions to boost their job satisfaction. Any

business can achieve success and peace only when the problem of satisfaction

and dissatisfaction of workers are felt understood and solved, problem of

efficiency absenteeism labour turnover require a social skill of understanding

human problems and dealing with them scientific investigation serves the

purpose to solve the human problems in the industry.

a) Pay.

b) The work itself.

c) Promotion

d) The work group.

e) Working condition.

f) Supervision.

13
PAY

Wages do play a significant role in determining of satisfaction. Pay is

instrumental in fulfilling so many needs. Money facilities the obtaining of food,

shelter, and clothing and provides the means to enjoy valued leisure interest

outside of work. More over, pay can serve as symbol of achievement and a

source of recognition. Employees often see pay as a reflection of organization.

Fringe benefits have not been found to have strong influence on job satisfaction

as direct wages.

THE WORK ITSELF

Along with pay, the content of the work itself plays a very major role in

determining how satisfied employees are with their jobs. By and large, workers

want jobs that are challenging; they do want to be doing mindless jobs day after

day. The two most important aspect of the work itself that influence job

satisfaction are variety and control over work methods and work place. In

general, job with a moderate amount of variety produce the most job

satisfaction. Jobs with too little variety cause workers to feel bored and fatigue.

Jobs with too much variety and stimulation cause workers to feel

psychologically stressed and „burnout‟.

PROMOTION

Promotional opportunities have a moderate impact on job satisfaction. A

promotion to a higher level in an organization typically involves positive

14
changes I supervision, job content and pay. Jobs that are at the higher level of

an organization usually provide workers with more freedom, more challenging

work assignments and high salary.

15
SUPERVISION

Two dimensions of supervisor style:

1. Employee centered or consideration supervisors who establish a supportive

personal relationship with subordinates and take a personal interest in them.

2. The other dimension of supervisory style influence participation in decision

making, employee who participates in decision that affect their job, display a

much higher level of satisfaction with supervisor an the overall work situation.

WORK GROUP

Having friendly and co-operative co-workers is a modest source of job

satisfaction to individual employees. The working groups also serve as a social

support system of employees. People often used their co-workers as sounding

board for their problem of as a source of comfort.

WORK CONDITION

The employees desire good working condition because they lead to greater

physical comfort. The working conditions are important to employees because

they can influence life outside of work. If people are require to work long hours

and / or overtime, they will have very little felt for their families, friends and

recreation outside work.

16
Determinants of job satisfaction:

While analyzing the various determinants of job satisfaction, we have to keep

in mind that: all individuals do no derive the same degree of satisfaction though

they perform the same job in the same job environment and at the same time.

Therefore, it appears that besides the nature of job and job environment, there

are individual variables which affect job satisfaction. Thus, all those factors

which provide a fit among individual variables, nature of job, and situational

variables determine the degree of job satisfaction. Let us see what these factors

are.

Individual factors:

Individuals have certain expectations from their jobs. If their expectations are

met from the jobs, they feel satisfied. These expectations are based on an

individual‟s level of education, age and other factors.

Level of education:

Level of education of an individual is a factor which determines the degree of

job satisfaction. For example, several studies have found negative correlation

between the level of education, particularly higher level of education, and job

satisfaction. The possible reason for this phenomenon may be that highly

educated persons have very high expectations from their jobs which remain

unsatisfied. In their case, Peter‟s principle which suggests that every individual

tries to reach his level of incompetence, applies more quickly.

17
Age:

Individuals experience different degree of job satisfaction at different stages of

their life. Job satisfaction is high at the initial stage, gets gradually reduced,

starts rising upto certain stage, and finally dips to a low degree. The possible

reasons for this phenomenon are like this. When individuals join an

organization, they may have some unrealistic assumptions about what they are

going to drive from their work. These assumptions make them more satisfied.

However, when these assumptions fall short of reality, job satisfaction goes

down. It starts rising again as the people start to assess the jobs in right

perspective and correct their assumptions. At the last, particularly at the fag end

of the career, job satisfaction goes down because of fear of retirement and

future outcome.

Other factors:

Besides the above two factors, there are other individual factors which affect

job satisfaction. If an individual does not have favourable social and family

life, he may not feel happy at the workplace. Similarly, other personal

problems associated with him may affect his level of job satisfaction. Personal

problems associated with him may affect his level of job satisfaction.

Nature of job:

Nature of job determines job satisfaction which is in the form of occupation

level and job content.

18
Occupation level:

Higher level jobs provide more satisfaction as compared to lower levels. This

happens because high level jobs carry prestige and status in the society which

itself becomes source of satisfaction for the job holders.

For example, professionals derive more satisfaction as compared to salaried

people: factory workers are least satisfied.

Job content:

Job content refers to the intrinsic value of the job which depends on the

requirement of skills for performing it, and the degree of responsibility and

growth it offers. A higher content of these factors provides higher satisfaction.

For example, a routine and repetitive lesser satisfaction; the degree of

satisfaction progressively increases in job rotation, job enlargement, and job

enrichment.

Situational variables:

Situational variables related to job satisfaction lie in organizational context –

formal and informal. Formal organization emerges out of the interaction of

individuals in the organization. Some of the important factors which affect job

important factors which affect job satisfaction are given below:

19
1. Working conditions:

Working conditions, particularly physical work environment, like conditions of

workplace and associated facilities for performing the job determine job

satisfaction. These work in two ways. First, these provide means job

performance. Second, provision of these conditions affects the individual‟s

perception about the organization. If these factors are favourable, individuals

experience higher level of job satisfaction.

2. Supervision:

The type of supervision affects job satisfaction as in each type of supervision;

the degree of importance attached to individuals varies. In employee-oriented

supervision, there is more concern for people which is perceived favourably by

them and provides them more satisfaction. In job oriented supervision, there is

more emphasis on the performance of the job and people become secondary.

This situation decreases job satisfaction

3. Equitable rewards:

The type of linkage that is provided between job performance and rewards

determines the degree of job satisfaction. If the reward is perceived to be based

on the job performance and equitable, it offers higher satisfaction. If the reward

is perceived to be based on considerations other than the job performance, it

affects job satisfaction adversely.

20
4. Opportunity:

It is true that individuals seek satisfaction in their jobs in the context of job

nature and work environment by they also attach importance to opportunities

for promotion that these job offer. If the present job offers opportunity of

promotion is lacking, it reduces satisfaction.

1. Work group: Individuals work in group either created formally of they

develop on their own to seek emotional satisfaction at the workplace. To the

extent such groups are cohesive; the degree of satisfaction is high. If the

group is not cohesive, job satisfaction is low. In a cohesive group, people

derive satisfaction out of their interpersonal interaction and workplace

becomes satisfying leading to job satisfaction.

Effect of Job Satisfaction

Job satisfaction has a variety of effects. These effects may be seen in the

context of an individual‟s physical and mental health, productivity,

absenteeism, and turnover.

Physical and Mental Health:

The degree of job satisfaction affects an individual‟s physical

and mental health. Since job satisfaction is a type of mental feeling, its

favorableness or unfavorableness affects the individual psychologically which

ultimately affects his physical health.

21
For example, Lawler has pointed out that drug abuse, alcoholism and mental

and physical health result from psychologically harmful jobs. Further, since a

job is an important part of life, job satisfaction influences general life

satisfaction. The result is that there is spillover effect which occurs in both

directions between job and life satisfaction.

Productivity:

There are two views about the relationship between job satisfaction and

productivity:

1. A happy worker is a productive worker,

2. A happy worker is not necessarily a productive worker.

The first view establishes a direct cause-effect relationship between job

satisfaction and productivity; when job satisfaction increases, productivity

increases; when satisfaction decreases, productivity decreases. The basic logic

behind this is that a happy worker will put more efforts for job performance.

However, this may not be true in all cases.

For example, a worker having low expectations from his jobs may feel satisfied

but he may not put his efforts more vigorously because of his low expectations

from the job. Therefore, this view does not explain fully the complex

relationship between job satisfaction and productivity.

22
The another view: That is a satisfied worker is not necessarily a productive

worker explains the relationship between job satisfaction and productivity.

Various research studies also support this view.

This relationship may be explained in terms of the operation of two factors:

effect of job performance on satisfaction and organizational expectations from

individuals for job performance. 1. Job performance leads to job satisfaction

and not the other way round. The basic factor for this phenomenon is the

rewards (a source of satisfaction) attached with performance. There are two

types of rewards intrinsic and extrinsic. The intrinsic reward stems from the job

itself which may be in the form of growth potential, challenging job, etc. The

satisfaction on such a type of reward may help to increase productivity. The

extrinsic reward is subject to control by management such as salary, bonus, etc.

Any increase in these factors does not hep to increase productivity though these

factors increase job satisfaction.

23
 1. A happy worker does not necessarily contribute to higher productivity

because he has to operate under certain technological constraints and,

therefore, he cannot go beyond certain output. Further, this constraint

affects the management‟s expectations from the individual in the form

of lower output. Thus, the work situation is pegged to minimally

acceptable level of performance. However, it does not mean that the job

satisfaction has no impact o productivity. A satisfied worker may not

necessarily lead to increased productivity but a dissatisfied worker

leads to lower productivity.

Perceived equity
of rewards
Extrinsic
reward

Performanc
e Satisfaction

Intrinsic
reward

THE RELATION BETWEEN PERFORMANCE AND SATISFACTION

24
Absenteeism:

Absenteeism refers to the frequency of absence of job holder from the

workplace either unexcused absence due to some avoidable reasons or long

absence due to some unavoidable reasons. It is the former type of absence

which is a matter of concern. This absence is due to lack of satisfaction from

the job which produces a „lack of will to work‟ and alienate a worker form

work as for as possible. Thus, job satisfaction is related to absenteeism.

HIGH

TURNOVER

JOB ABSENCES

SATISFACTION

LOW

LOW HIGH

TURNOVER AND ABSENCES

RELATIONSHIP OF JOB SATISFACTION, EMPLOYEE TURNOVER

AND ABSENCES

25
Employee turnover:

Turnover of employees is the rate at which employees leave the organization

within a given period of time. When an individual feels dissatisfaction in the

organization, he tries to overcome this through the various ways of defense

mechanism. If he is not able to do so, he opts to leave the organization. Thus, in

general case, employee turnover is related to job satisfaction. However, job

satisfaction is not the only cause of employee turnover, the other cause being

better opportunity elsewhere.

For example, in the present context, the rate of turnover of computer software

professionals is very high in India. However, these professionals leave their

organizations not simply because they are not satisfied but because of the

opportunities offered from other sources particularly from foreign companies

located abroad.

26
 DIMENSIONS OF JOB SATIFACTION

Job satisfaction is a complex concept and difficult to measure objectively. The

level of job satisfaction is affected by a wide range of variables relating to

individual, social, cultural, organizational factors as stated below:-

DIMENSIONS

Individual Social Organizational Environmental Cultural

FACTORS FACTOR FACTOR FACTOR

 Individual:- Personality, education, intelligence and abilities, age,

marital status, orientation to work.

 Social factors:-Relationship with co-workers, group working and

norms, opportunities for interaction, informal relations etc.

 Organizational factors:- Nature and size, formal structure, personnel

policies and procedures, industrial relation, nature of work, technology

and work organization, supervision and styles of leadership,

management systems, working conditions.

 Environmental factors:-Economic, social, technical and governmental

influences.

27
  Cultural factors:-Attitudes, beliefs and values.

These factors affect job satisfaction of certain individuals in a given set of

circumstances but not necessarily in others. Some workers may be satisfied

with certain aspects of their work and dissatisfied with other aspects .Thus,

overall degree of job satisfaction may differ from person to person.

IMPORTANCE TO STUDY JOB SATISFACTION

The importance to the study of job satisfaction level is very important for

executives. Job satisfaction study importance can be understood by the answer

of the following question

1) Is there room for improvement?

2) Who is relatively more dissatisfied?

3) What contributes to the employee satisfaction?

4) What are the effects of negative employee attitudes?

28
Benefits of job satisfaction study

Job satisfaction surveys can produce positive, neutral or negative results. If

planned properly and administered, they will usually produce a number of

important benefits, such as-

1. It gives management an indication of general levels of satisfaction in a

company. Surveys also indicate specific areas of satisfaction or

dissatisfaction as compared to employee services and particular group of

employee.

2. It leads to valuable communication brought by a job satisfaction survey.

Communication flow in all direction as people plan the survey, take it

and discuss the result. Upward communication is especially fruitful

when employee are encouraged to comment about what is on their

minds instead of merely answering questions about topics important to

management.

3. as a survey is safety value, an emotional release. A chance to things gets

off. The survey is an intangible expression of management‟s interest in

employee welfare, which gives employees a reason to feel better

towards management.

4. Job satisfaction surveys are a useful way to determine certain training

needs.

5. Job satisfaction surveys are useful for identifying problem that may

arise, comparing the response to several alternatives and encouraging

manager to modify their original plans. Follow up surveys allows

29
 management to evaluate the actual response to a change and study its

success or failure.

Importance to Worker and Organization

Frequently, work underlies self-esteem and identity while unemployment lowers

self-worth and produces anxiety. At the same time, monotonous jobs can erode a

worker's initiative and enthusiasm and can lead to absenteeism and unnecessary

turnover. Job satisfaction and occupational success are major factors in personal

satisfaction, self-respect, self-esteem, and self-development. To the worker, job

satisfaction brings a pleasurable emotional state that often leads to a positive work

attitude. A satisfied worker is more likely to be creative, flexible, innovative, and

loyal.

For the organization, job satisfaction of its workers means a work force that is

motivated and committed to high quality performance. Increased productivity the

quantity and quality of output per hour worked seems to be a byproduct of

improved quality of working life. It is important to note that the literature on the

relationship between job satisfaction and productivity is neither conclusive nor

consistent.. Unhappy employees, who are motivated by fear of job loss, will not

give 100 percent of their effort for very long. Though fear is a powerful motivator,

it is also a temporary one, and as soon as the threat is lifted performance will

decline.

Tangible ways in which job satisfaction benefits the organization include reduction

in complaints and grievances, absenteeism, turnover, and termination; as well as

30
 improved punctuality and worker morale. Job satisfaction is also linked to a more

healthy work force and has been found to be a good indicator of longevity. And

although only little correlation has been found between job satisfaction and

productivity, Brown (1996) notes that some employers have found that satisfying

or delighting employees is a prerequisite to satisfying or delighting customers, thus

protecting the "bottom line." No wonder Andrew Carnegie is quoted as saying:

"Take away my people, but leave my factories, and soon grass will grow on

the factory floors. Take away my factories, but leave my people, and soon we

will have a new and better factory"

Creating Job Satisfaction

So, how is job satisfaction created? What are the elements of a job that create job

satisfaction? Organizations can help to create job satisfaction by putting systems in

place that will ensure that workers are challenged and then rewarded for being

successful. Organizations that aspire to creating a work environment that enhances

job satisfaction need to incorporate the following:

 Flexible work arrangements, possibly including telecommuting

 Training and other professional growth opportunities

 Interesting work that offers variety and challenge and allows the worker

opportunities to "put his or her signature" on the finished product

 Opportunities to use one's talents and to be creative

 Opportunities to take responsibility and direct one's own work

 A stable, secure work environment that includes job security/continuity

31
 An environment in which workers are supported by an accessible supervisor who

provides timely feedback as well as congenial team members

 Flexible benefits, such as child-care and exercise facilities

 Up-to-date technology

 Competitive salary and opportunities for promotion

Probably the most important point to bear in mind when considering job

satisfaction is that there are many factors that affect job satisfaction and that what

makes workers happy with their jobs varies from one worker to another and from

day to day. Apart from the factors mentioned above, job satisfaction is also

influenced by the employee's personal characteristics, the manager's personal

characteristics and management style, and the nature of the work itself. Managers

who want to maintain a high level of job satisfaction in the work force must try to

understand the needs of each member of the work force.

For example, when creating work teams, managers can enhance worker

satisfaction by placing people with similar backgrounds, experiences, or needs in

the same workgroup. Also, managers can enhance job satisfaction by carefully

matching workers with the type of work.

For example, a person who does not pay attention to detail would hardly make a

good inspector, and a shy worker is unlikely to be a good salesperson. As much as

possible, managers should match job tasks to employees' personalities.

32
 Managers who are serious about the job satisfaction of workers can also take other

deliberate steps to create a stimulating work environment. One such step is job

enrichment. Job enrichment is a deliberate upgrading of responsibility, scope, and

challenge in the work itself. Job enrichment usually includes increased

responsibility, recognition, and opportunities for growth, learning, and

achievement. Large companies that have used job-enrichment programs to increase

employee motivation and job satisfaction.

Good management has the potential for creating high morale, high productivity,

and a sense of purpose and meaning for the organization and its employees.

Empirical findings show that job characteristics such as pay, promotional

opportunity, task clarity and significance, and skills utilization, as well as

organizational characteristics such as commitment and relationship with

supervisors and co-workers, have significant effects on job satisfaction. These job

characteristics can be carefully managed to enhance job satisfaction.

Of course, a worker who takes some responsibility for his or her job satisfaction

will probably find many more satisfying elements in the work environment.

Everett (1995) suggests that employees ask themselves the following questions:

 When have I come closest to expressing my full potential in a work situation?

 What did it look like?

 What aspects of the workplace were most supportive?

 What aspects of the work itself were most satisfying?

33
 What did I learn from that experience that could be applied to the present

situation?

34
 Workers' Roles in Job Satisfaction

If job satisfaction is a worker benefit, surely the worker must be able to contribute

to his or her own satisfaction and well-being on the job. The following suggestions

can help a worker find personal job satisfaction:

 Seek opportunities to demonstrate skills and talents. This often leads to more

challenging work and greater responsibilities, with attendant increases in pay and

other recognition.

 Develop excellent communication skills. Employers value and reward excellent

reading, listening, writing, and speaking skills.

 Know more. Acquire new job-related knowledge that helps you to perform tasks

more efficiently and effectively. This will relieve boredom and often gets one

noticed.

 Demonstrate creativity and initiative. Qualities like these are valued by most

organizations and often result in recognition as well as in increased responsibilities

and rewards.

 Develop teamwork and people skills. A large part of job success is the ability to

work well with others to get the job done.

 Accept the diversity in people. Accept people with their differences and their

imperfections and learn how to give and receive criticism constructively.

 See the value in your work. Appreciating the significance of what one does can

lead to satisfaction with the work itself. This helps to give meaning to one's

existence, thus playing a vital role in job satisfaction.

35
 Learn to de-stress. Plan to avoid burnout by developing healthy stress-management

techniques.

Assuring Job Satisfaction

Assuring job satisfaction, over the longterm, requires careful planning and effort

both by management and by workers. Managers are encouraged to consider such

theories as Herzberg's(1957) and Maslow's (1943) Creating a good blend of factors

that contribute to a stimulating, challenging, supportive, and rewarding work

environment is vital. Because of the relative prominence of pay in the reward

system, it is very important that salaries be tied to job responsibilities and that pay

increases be tied to performance rather than seniority.

36
So, in essence, job satisfaction is a product of the events and conditions that people

experience on their jobs. Brief (1998) wrote: "If a person's work is interesting, her

pay is fair, her promotional opportunities are good, her supervisor is supportive,

and her coworkers are friendly, then a situational approach leads one to predict she

is satisfied with her job" (p. 91). Very simply put, if the pleasures associated with

one's job outweigh the pains, there is some level of job satisfaction

MODEL OF JOB SATISFACTION

37
 Human resources are on major factors of production. It is human

asset, which convert the various resources in to the production resources. It has

immense potentialities and it only human resources, which appreciate with time

whereas all other resources undergo the process of depreciation. Success of an

organization mainly depends on the quality of manpower and its performance.

In early days human resource was not taken as an important factor

of production. Human begin was simple treated as log in the movement

increasing emphasis has been given to the worker as a whole man. The need of

vast manpower and their importance was realized by some of the progressive

entrepreneurs. The emergence of Trade Union and their gradual collective

power forced some entrepreneurs to give some district feature of human side by

production. The first among the entrepreneurs who had contributed in the

development of human side of production was Robert Owen, and English

Humanist. He took a genuine interest in the welfare of the workers. But this

magnetite was not supported by a major chunk of entrepreneurs.

A number of social scientist advocated their valuable theories

towards the beginning of the 20th century. Abraham Maslow gave his

“Hierarchy of needs” theory. Mc Clelland‟s Afflation- Achievement theory is

well accepted too. Christ Argyris theory of “four system of Management” is

also a milestone in the development of human factor in the production process.

But the most important in this field was that of Elton Mayo‟s Human

Relation Approach. The great “Hawthorne Study “by Elton Mayo‟s and

colleagues, revealed that the effectiveness of any organization depends upon

38
the quality of the relationship among the personnel and social needs of

employees are very important and that concentration by management

exclusively on productivity, material and environmental issue will to be a self-

defecting aim.

Hence the management must give more emphasis on the human side

and their proper utilization. This then remains the cardinal objective of the

human relations function to discover newer ways of understanding man and to

motive him to higher standard of workmanship. Many new experiments such as

study of his state university of Michigan etc have developed the branch of

Management beyond margin.

Today an organization having a good inventory of human resources and

a dynamic personnel department is prospective one. So the technique and

functions of personnel management have now come closely integrated with the

overall organization strategies n search of excellence.

OBJECTIVES OF HRM.

The following are main objectives of the study

 To require the overall idea about the organization.

 Helping the skills and abilities of the workers efficiency.

 Providing the organization with well trained and well-motivated

employees.

 Increasing to the fullest the employees‟ job satisfaction and self

actualization.

39
  Developing and maintaining a quality of work life that makes

employment in the organization desirable.

 Communicating of HRM policies to all employees.

 Helping to maintain ethical policies and socially responsible behavior.

 Managing change to mutual advantage of individuals groups, the

enterprise and public.

 To verify how far as the personnel practices methods are effective in

meeting the objective lay down by the enterprises.

 To study how the interacting agent i.e. managers, supervisors and

workers are identifying themselves with the program objectives.

 To examine whether the managers, supervisors and workers are

satisfied with the present system of personnel practices in the

organization.

PURPOSE OF STUDY:

As there is saying, practice makes a man perfect and the knowledge.

This does not deal with the practical application, is said to be unscientific and

unsystematic. More over the branch of management, which deals with the most

critical and important factor of production, requires not only theoretic

background but also some practical experience to have some knowledge on

day-to-day problem solving.

40
CHAPTER-2
COMPANY PROFILE

41
 COMPANY PROFILE

Jindal Steel and Power Ltd.

Industry Steel, Energy

Founded 1952

Founder O P Jindal at Hisar

Headquarters New Delhi, India

Area served Worldwide

Key people Naveen Jindal (Chairman)

(Ravi Uppal MD and Group CEO)

Products Steel, Iron, Electricity

generation and distribution

Revenue ₹273.83 billion (US$3.8 billion) (2018)

Net income ₹18.94 billion (US$260 million) (2014)

Total assets ₹740.72 billion (US$10 billion) (2014)

Total equity ₹225.19 billion (US$3.1 billion) (2014)

Number of 14,221 (2013)

employees

Parent Jindal Group

Website www.jindalsteelpower.com

42
JSPL is an industrial powerhouse with a dominant presence in steel, power,

mining and infrastructure sectors. Part of the US $ 18 billion OP Jindal Group

this young, and responsive company is constantly expanding its capabilities to

fuel its fairy tale journey that has seen it growth to a US $ 3.3 billion. The

company has committed investments exceeding US $ 30 billion in the future

and has several business initiatives running simultaneously across continents.

Mr. Naveen Jindal, the youngest son of the legendary Shri O.P. Jindal, the

company produces economical and efficient steel and power through backward

and forward integration. JSPL today sports a product portfolio that caters to

markets across the steel value chain. The company produces the world's longest

(121-meter) rails and it is the first in the country to manufacture large-size

parallel flange beams.

JSPL operates the largest coal-based sponge iron plant in the world and has an

installed capacity of 3 MTPA (million tons per annum) of steel at Raigarh in

Chhattisgarh. Also, it has set up a 0.6 MTPA wire rod mill and a 1 MTPA

capacity bar mill at Patratu, Jharkhand, a medium and light structural mill at

Raigarh, Chhattisgarh and a 2.5 MTPA steel melting shop and a plate mill to

produce up to 5.00-meter-wide plates at Angul, Odisha.

Alongside contributing to India's growth story the company is driving an

ambitious global expansion plan with its sights set on emerging as a leading

transnational business group. The company continues to capitalize on

opportunities in high growth markets, expanding its core areas and diversifying

into new businesses. In Oman (Middle East), the company has set up a US $

43
500 million, 1.5 MTPA gas-based Hot Briquetted Iron (HBI) plant. It has now

added a 2 MTPA integrated steel plant. In Africa, the company has large

mining interests in South Africa, Mozambique, Namibia, Botswana and

Mauritania and is expanding into steel, energy and cement.

The company endeavors to strengthen India's industrial base by aiding

infrastructural development, through sustainable development approaches and

inclusive growth. It deploys its resources to improve infrastructure, education,

health, water, sanitation, environment and so on in the areas it operates in. It

has won several awards for its innovative business and social practices. It has

won several awards for its innovative business and social practices.

VISION

To be a globally admired organization that enhances the quality of life of all

stakeholders through sustainable industrial and business development.

MISSION

We aspire to achieve business excellence through:

 The spirit of entrepreneurship and innovation.

 Optimum utilization of resources.

 Sustainable environment friendly procedures and practices.

 The highest ethics and standards.

 Hiring, developing and retaining the best people.

 Maximizing returns to stakeholders.

 Positive impact on the communities we touch.

44
2.1 Global Position of JSL

Stainless steel consumption globally has grown by 5.2% annually in the last 10

years despite 2-3 years of overall consolidation in steel and stainless steel

industry.

Last 10 years growth has primarily been driven by strong growth in Asia

especially China and India having registered growth of 21% and 12%

respectively.

China was the biggest stainless importer and consumer in 2003 with apparent

consumption of 4.2 MT. and an import of around 2.5 MT. 200 series is being

used extensively in China in the ABC and other segment.

Stainless steel industry in India is witnessing a radical change in consumption

pattern with demand picking up in new segments like railways, architecture

building, construction, automobile segment, and other applications like fast

food chains, shopping malls, and commercial complexes.

Any history dealing with the Steel Industry of India of modern times has to

start with the vision of Jamshedji Tata who put India on the world map of Steel

earlier than any other country in the whole of Asia.

45
In the Steel industry there are three major companies in India –

1. Tata Iron and Steel Company

2. Steel Authority of India Limited

3. Bhushan Steel and Stainless

2.2 Approach

JSL has come a long way since lts inception in 1970, but the motto of the

company remains the same “We are the future of steel.” This motto has always

been given utmost priority and the company believes in shaping the future of

stainless steel market by providing and producing value added products for the

ultimate end users.

Jindal Stainless Limited is the most diverse company in the group in terms of

both the location and products and recorded an impressive growth in sales we

stand at Rs. 2015 corer with export representing 36% of the sale. The profit

after taxes stood at Rs.90.15 crore.

The company has also focused on new markets for its low nickel grades which

is cost effective alternatives products in the market worldwide. Due to the price

effectiveness of these low nickel grades the demand for these products

continues to remain strong in export markets. Jindal Stainless has now Chinese

office to cater to increased volume and also a full flagged office in Vietnam.

The export of the company is not affected by severe SARS epidemic in

46
Chinese markets and company was able to exceed its sales targets in these

regions.

2.3 Board of Directors

Sr. No. Name Designation

1. Savitri Devi Jindal Chairperson

2. N.C. Mathur Director-Corporate Affairs

3. Naveen Jindal Director „s

4. Suman Jyoti Khaitan

5. Lokesh Kumar Singhal

6. T.R. Sridharan

7. B.D. Gupta

8. Rajinder Parkash Executive Director‟s

9. N.P. Jayaswal

10. A.P. Garg Sr.Vice President & Co. Secy.

Management Team

1. B.P. Goyal Executive Director-Projects

2. R.K. Goyal Director – Commercial

Bankers

1. State Bank of India

2. State Bank of Patiala

47
 3. Punjab National Bank

4. Canara Bank

5. Standard Chartered Bank

6. ICICI Banks

7. UTI Bank

8. Export-Import Bank of India

9. Bank Of Baroda

2.4 Production Plants

Keeping in view the need to modernise and expand JSL undertook a total

expansion and modernisation programme. As a result not only has the

production capacity increased but the quality of the products has also improved

considerably making larger exporter of the company.

2.4.1 Hisar Plant ( Haryana)

Jindal‟s only integrated Stainless steel plants has an annual production capacity

of 4 laces metric tons. The plant has two major operational units namely hot

rolling units and cold rolling units. The hot rolling unit comprises of steel

melting shops, hot rolling mills (stickle mill, Stainless mill) finishing units

power plants and oxygen plant etc. The cold unit comprises of cold rolling mill

and pickling lines, coin blanking lines and finishing facilities.

48
The company has implemented environmental management system and

received OHSAS 18001 and ISO 14001 certification. The company is working

on for getting the ISO-9000 2000 version.

2.4.2 Vizag plant (Andhra-Pradesh)

The Ferro Alloys plant is situated at Jindal Nagar, Kothavasala, Distt.

Vizianagram, Andhra Pradesh. The installed Capacity is 40,000 metric tons per

annum of High Carbon Ferro Chrome.

Besides supplying to the domestic market, the company also exports Ferro

Chrome to various developed countries, in recognition for its work in the field

of exports, the company was awarded the "Export Award Regional Special

Shield". The plant is also equipped with an Ultra modern testing laboratory to

ensure world class quality standards.

2.5 Products Range

2.5.1 Slabs

Cast in single strand slab caster of steel Melt Shop I. Liquid steel is produced

through Electric Arc Furnace-ASM Converter/VOD-Ladle Refining Furnace

route.

2.5.2 Blooms

Cast from bloom casters both in Steel Melt Shop 1&11. Liquid steel is

produced through Electric Arc Furnace-ASM Converter-Ladle refining furnace

route.

49
2.5.3 Hot Rolled Products

As cast/ground of slabs, they are first heated and socked in reheating furnace,

rolled in roughing mill to intermediate thickness and to the final thickness in

the stickle mill.

2.5.4 Hrap Coils

Hot Rolled Annealed pickled coils are produced after continuous annealing and

pickling.

2.5.5 Hrap Plates

Plates are finished after annealing & pickling or by cutting HRAP coils to

desired lengths.

2.5.6 Cold Rolled Products

Cold rolled coils and sheets are produced after being processed in 20 Hi-mill,

continuous anneal & pickle line, slitting line and cut to length lines.

2.5.7 Blade Steel

The company is exclusive producer of stainless steel for making Razor Blades

and Surgical Blades in India. The plant has a capacity to produce 10,000 metric

tonnes per year.

50
2.5.8 Customized Products

JSL has developed the capability to supply customized products for critical

applications. This has helped customers in their indigenization efforts.

2.6 The Pioneering Achievements

In the early 60‟s Jindal R&D showed early promises by developing India‟s first

100% indigenous pipe mill at Hisar.

Until the mid 70‟s a huge chunk of India‟s stainless steel requirements were

met by imports. The challenge was to produce high quality stainless still at less

than world prices. In 1979-80 Jindal were the first to develop an indigenous

Argon Oxygen Decarburisation(AOD) convector- a state of the art refining

process which has not only lad to drastic cult in the manufacturing cost but it

has led to a dramatic improvement in the quality of stainless steel.

Jindal were the first to manufacture Ferro-Chrome with 100% in house

technology. Jindal Ferro-Chrome chaotic exported to countries all over the

world including Sweden, Western Europe, South Korea and China.

To make Deep Drawing (DD) and extra Deep Drawing (EDD) grades of steel

is no mean to task. It calls for the technology of the highest order. In the private

sector, Jindal were the first to master this technology. Jindal Vasind Plant

(Bombay), where such steel is made one of the largest in the country.

51
Worldwide there are just a handful of the companies who have the know- how

to manufacture large diameter submerged arc welded (SAW) steel pipes. In

India SAW pipes are made by this group. Jindal Steel pipes have found

extensive application in oil and gas industry.

Jindal have also pioneering India‟s first continuous slab casting machines and

India‟s first hot stackel mill to produce hot rolled stainless steel coils.

For Aluminum or against the conventional slab to strip rolling method, Jindal

have introduced the new generation continuous ship caster. As a result, Jindal

were the first in India to introduce direct strip casting of aluminum.

The list Jindal break through is also limitless. As limitation its resolve to seek

and overcome challenges on a continuous bases. That‟s why from the industries

point of view it has become axiomatic to say-“Where there is challenge there is

Jindal. And if it is Jindal, it must be first class.

2.7 Quality Assurance

Quality to meet the customer requirements is the 'topmost priority at Jindal

Stainless Limited. Their quality, activities begin with understanding the exact

requirements of; the customers and continue till the customer is fully satisfied

with the delivered products and service.

In order to deliver the assured quality, all the inputs including the raw material

are thoroughly inspected and tested. All the processes are constantly monitored

52
and controlled to ensure that no non-conforming in house materials passed for

further processing in the plant.

The finished product is cleared-for dispatch to customer only after it has passed

the tests as per the quality plan. All tests are conducted in their In-house testing

laboratories. Jindal Stainless Limited assures quality through a large team of

Quality specialists, who are the most important aspect of Quality System. The

people involved at various functions are most important aspect of quality

system. The people involved at various functions are constantly trained to keep

pace with the most recent advancements in production technology, quality

management and customer servicing.

Also above all, Jindal Stainless Limited has a Quality Control laboratory that is

equipped with modern testing and analytical equipments. In order to obtain

optimum properties in stainless steel, first also provides free technical

assistance to the customers and users, on right selection and effective

application of stainless Steel.

2.8 The Operations

JINDAL'S only integrated Stainless Steel Plant has an annual production

capacity of 250,000 metric tons. An exclusive, complex for manufacturing

Stainless steel for razor & surgical blades has been created. A coin blanking

line has also been installed.

53
2.9 Stainless Design Centre

The Jindal stainless design centre at new evolves innovative designs for various

application by involving designers, architects & other professionals. The centre

is augmenting the usage of stainless steel in value added applications for the

household, office & industrial segment in the Indian market.

2.10 Main Facilities

 Steel Making

 Hot Rolling

 Cold Rolling

There are two Steel Melt Shops-I & II. Steel Melt Shop I is dedicated to the

production of stainless steel, slabs & blooms while Steel Melt shop II produces

blooms.

a) Steel Melt Shop I:

This shop comprises of one Electric Arc Furnace, one ASM converter, one

VOD unit, one Ladle Refining furnace (LRF), one Continuous Slab Casting

Machine & one Twin Strand Bloom Caster. The shop is capable of producing

150,000 metric tones of stainless steel slabs& blooms in various grades

annually. The VOD unit here ensures that the stainless steel has a very low

inclusion & gas content.

54
Stainless Steel required for demanding application by nuclear plants, space&

other sophisticated applications is produced here.

b) Steel Melt Shop II:

The shop is equipped with one Electric Arc Furnace, one ASM converter, one

Ladle Refining Furnace & one Twin Strand Bloom centre. The shop is

dedicated to producing stainless steel blooms especially of low nickel variety

conforming to 200 series that are hot rolled in the semi continuous Tandem

Strip nail for the production of flat bars.

The shop is capable of producing 200,000 metric tons of blooms per year.

Hot Rolling

Hot Steckel mill converts stainless steel slabs into hot rolled plates and coils.

This mill consists of a slab reheating furnace, a four high roughing stand, a four

high reversible finish strand coiler.

Hot Steckel Mill is capable of rolling stainless steel plates & coils up to 1500

mm width.

Cold Rolling

Cold Rolling division of JSL has capacity to produce 100,000 metric tons per

annum of cold rolled stainless steel flat products including 10,000 metric tons

of Razor Blade & other Ferritic/Martensitic grade cold rolled Stainless.JSL is

fully equipped to supply material in 20, 2B, BA, No.3, No, 4 surfaces finishes.

55
The new cold rolling division in particular is equipped with sophisticated steel

production lines to produce quality surface finishes & precise dimensional

tolerances with the desired flatness.

2.11 Future Plans Of Jindal’s

JSL announced a technical alliance with Nisshin Steel one of the leading

Stainless Steel manufacturer in Japan.

The collaboration is technical in scope and an agreement has been signed for a

period of two years during which Nissin steel will provide Jindal Stainless

technical advisory services through transfer of operation technology relating to

the manufacture of stainless steel including Nissin Steel proprietary technical

information and know how.

Through this alliance Jindal will consolidate its position as an industry leader

by acquiring operating technology for the purpose of improving the quality and

production yield of Jindal stainless steel products.

Jindal Stainless has announced the setting up of a Ferro-alloys and an integrate

stainless steel project of in the jaipur district for the Orissa in east India. Which

would start from stage to production of faro chrome stainless steel slab

mastering facilitates along with power generation.

56
An Overview In General

2.12 Consumption Pattern & Various Applications Of Stainless Steel

Stainless steel is being increasingly used for specialized applications, where the

steel requires specific properties for withstanding Corrosion & mechanical

wear & Tear. This is achieved by adding the alloying elements in proper

proportions.

While the developed world has nearly 80% of its stainless steel requirement

coming from industrial applications and the remaining 20% from domestic

applications, whereas the Indian market consumes 75% of the total stainless

steel in domestic applications, particularly utensils and only 25% in industrial

applications like automotive parts, transport, pipes & tubes.

So we can say that characteristic pattern of stainless steel in western world is

not applicable in India as there is a very strong bias towards household utensils

& cutlery.

Globally, consumption of stainless steel has doubled in past fifteen years or so,

but in East Asia, it has tripled & in China, it has raised six folds from one-lac

tones per year in early 1980's to over seven lac tones in 1996.

In India, demand of stainless steel has increased tenfold, giving an average

annual growth rate of more than 18%.

57
The major applications of stainless can be described below:

2.12.1 Utensil Sector

Stainless steel utensils are the true consumption item in India and are used

across social, economic and geographical divides. Kitchens in middle class

households are dominated by stainless steel. Most storage boxes and cans, .all

cooling vessels (including frying pans and pressure cookers), most sizes of

serving plates, cutlery is all made from stainless steel.

Stainless steel products are common wedding gifts; especially in the South that

help newlyweds setup their homes. During Diwali, a very important Hindu

festival, a large tonnage of stainless household items changes hands in terms of

gifts. Even corporate bodies use thousands of tons of stainless as gifts for

employees.

Kitchen sinks and gas stove bodies:

Although, very much present in kitchen, they don't share the same history of

development as their counterparts in utensils. But, they have caught the

imagination of Indians. Until the late eighties, gas stoves with painted carbon

steel bodies and later the nickel chromium plated ones, dominated the market.

The stainless steel bodies, once introduced, proved to be very popular because

of their clean ability, durability and competitive price.

The Kitchen sink market for stainless steel made a very modest start in 1972,

but it began picking up only around 1984. Since then, especially in last five

58
years or so, stainless steel has set itself to beat all competitive materials

including mineral resin composites, porcelain, marble, granite etc. Considering

the present trends, we are sure that the future of kitchen sink market is firmly in

the hands of stainless steel.

2.12.2 Processing Sector

The processing sectors (chemical, oil & gas, (petrochemical, food & beverage)

are all expanding and naturally require a lot of stainless steel. The food

processing industry is critically important, as, unlike the developed world,

India has only recently begun manufacturing products like frozen and ready to

cook foods. The growth of this sector would lead to greater consumption of

stainless steel increasing demand for petroleum products will require

significant amount of stainless steel.

Stainless steel is widely used in paper industry to make grinder, water sprays &

showers, screening and dewatering equipment, cooking and washing towers,

pulpier etc. The pulpier is a Critical instrument in the paper recycling industry,

it is first stage equipment, which literally makes pulp of waste paper raw

material and has a rotating component inside.

2.12.3 Auto Industry

In auto industry, the uses of stainless steel are growing at a very high pace.

The growth is associated, especially with exhaust system. The reasons for the

growth are government pollution control measures and the entry of North

59
American, European & far Eastern manufacturers into the Indian market. India

has also started producing stainless steel railway coaches. Stainless steel is also

used for roof packing air conditioned coaches of railways.

2.12.4 Construction & Architecture

As in developed countries, India has also started using stainless steel for solid

construction & beautiful architecture. But this is only in the starting stage. India

has to go a long way in this field. So the demand of steel is going to increase

manifold with the growth of this sector.

A bridge was built in 1993-95 in the town of Schaffhausen in Switzerland

crossing the river Rhine. Cognizance of the weakness of earlier designs and

consideration of future repairs and disruption costs led to the use of stainless

steel reinforcements in critical parts of the structure. By adopting the concept

of using stainless steel reinforcement for the vulnerable skin area of the splash

zones remedial treatment and traffic disruption will be drastically reduced and

maintenance minimized. The critical performance requirements/ factors which

led to the specification of stainless steel were:

2.12.4.1 Durability

Resistance to the effects of atmospheric corrosion & dicing salts over the life of

the bridge of 80 years.

60
2.12.4.2 Maintenance

To be minimized another example is CPWD, which has used about 70 tones of

stainless steel in the Parliamentary Library Building in Delhi. They have used

stainless steel for anchors, hand rails, domes and library furniture.

SESA Goa Limiter‟s corporate headquarters at Panaji - Eight storeys tall, has

used stainless steel for cladding the exterior walls.

Stainless steel is highly preferable for hospitals. As stainless steel is highly

hygienic material and is durable, resistant to chemical reagents, easy to

maintain & is aesthetic in appearance, it has also been used by many hospitals

and medical institutions for paneling of operation theatre, intensive care units,

wall trolley height, scrub and toilet areas for surgical Instruments, sterilizers,

disposable injection needles, sterilizers, disposable injection needles, cots, bed

pans, furniture etc.

2.13 Research & Development

Since its inception in 1970, when the Jindal Plant was set up in Hisar, the

Jindal Organization has come a long way. Starting out by being the first private

sector steel plant with technology developed by its R&D division, today the

Jindal conglomerate is a name to reckon with in the Indian industry. This US$

4.0 billion multi- locational industrial giant is equipped with world class

technology to manufacture products matching international standards.

2.14 A History Checked With Distinctions

61
In these 29 years the Jindal Organization has emerged as the largest producer

of stainless steel in the country. The company has the distinction of being the

largest sheet galvaniser and cold rolled coil producer in the private sector.

The Organization‟s history is indeed chequered with many such distinctions

like being the sole producer of U-O-E SAW pipes in Asia (except Japan), and

the only Indian company to use the acclaimed Codex steel technology, the third

in the world to do so.

2.15 The Technological Edge

The hallmark of the organization's achievements and growth has been its ability

to develop, adapt and adopt the latest technology, to match the demands of a

dynamic and burgeoning Indian industry.

Seeing doors where others see walls.

At Jindal, research is a self-imposed discipline; a challenge it has pursued with

a pioneer‟s zeal. Exploring new ideas and attempting breakthrough products

and processes.

For instance, tracking and adopting the latest in world technology, anticipating

customer needs with cost-efficient reliable solutions, and promoting

engineering skill and manpower caliber. Jindal‟s R&D investment, together

with its R&D capability has given it a head start over others.

62
Quality control not only in the machines, but in the mind first.

Perfection does not begin at the manufacturing plant. It begins in the mind. It is

a challenge that Jindal has overcome through diligence and discipline and by

encouraging its employees to develop a sense of pride in their jobs.

Jindal products have few peers. Both in terms of product performance

and product reliability.

2.16 Jindal Group Companies

 Jindal Stainless

 SAW Pipes Ltd.

 Jindal Steel & Power Ltd.

 JSW Steel Ltd.

Jindal Steel Company perspective:-

Jindal Steel is amongst the largest corporate groups in India. Jindal Group is

presently a US $5 billion conglomerate and ranks fourth amongst the top Indian

Business Houses in terms of assets. Jindal Steel is one of the largest steel

producers in India with 12 plants in India and 2 in US. O.P. Jindal is the

founder of Jindal Group. He started by trading in steel pipes in Nalwa, a village

in the present-day Haryana. In 1952, O.P. Jindal set up the group's first factory

at Liluah, near Calcutta for the manufacturing of steel pipes, bends and sockets.

Soon thereafter, he set up a similar manufacturing unit at Hisar.

63
In the early 1960s Jindal Steel achieved a breakthrough when it developed

India's first 100% indigenous pipe mill at Hisar. In 1970, O.P. Jindal

established Jindal Strips Limited and set up a mini steel plant at Hisar to

manufacture coils and plates through the electric and furnace route. Since then,

Jindal Steel has not looked back and has gone from strength to strength. Today,

the group has developed into a multi-faceted organization with revenues in

excess of US $5 billion.

Companies of Jindal Group

Jindal Stainless Ltd.: Jindal Stainless is the largest integrated stainless steel

producer in India and the flagship company of the Jindal Group. It is an ISO:

9001 & ISO: 14001 company. Jindal Stainless Ltd. has plants at Hisar and

Vizag and is setting up a Greenfield integrated Stainless Steel project in Orissa

with capacity of 1.6 million tones per annum.

Jindal's plant at Hisar is India's only composite stainless steel plant for the

manufacture of Stainless Steel Slabs, Blooms, Hot rolled and Cold Rolled

Coils, 60% of which are exported worldwide. At Vizag, Jindal has a Ferro

Alloy Plant with an installed capacity of 40,000 metric tones per annum.

Jindal Steel & Power Ltd: JSPL is one of the leaders in Steel Manufacturing

and Power Generation in India. JSPL is the largest private sector investor in the

State of Chhattisgarh with a total investment commitment of more than Rs.

10,000 crores.

64
It is also setting up a 6 million tonne steel plant in Orissa with an investment of

Rs. 13,500 corers and a 6 million tonne steel plant in Jharkhand with an

investment of Rs. 15,000 chores.

Jindal Power Limited, wholly owned subsidiary of JSPL, is setting up a 1000

MW O. P. Jindal Super Thermal Power Plant at Raigarh, with an investment of

over Rs. 4500 corers. JSPL has also ventured into exploration and mining of

high value minerals and metals, like diamond, precious stones, gold, platinum

group of minerals, base metals, tar sands etc.

JSW Steel Limited: JSW Steel Ltd is a fully integrated steel plant having units

across Karnataka and Maharashtra producing from pellets to colour coated

steel. JSW was founded in1982, when the Jindal Group acquired Primal Steel

Ltd which operated a mini steel mill at Tripura in Maharashtra.

The Jindals renamed it as Jindal Iron and Steel Co Ltd (JISCO) now known as

JSW Steel Limited (Downstream). In 1994, to achieve the vision of moving up

the value chain and building a strong, resilient company, JISCO promoted

Jindal Vijayanagar Steel Ltd (JVSL) now known as JSW Steel Limited

(Upstream).

Steel is crucial to the development of any modern economy and is considered

to be the backbone of human civilisation. The level of per capita consumption

of steel is treated as an important index of the level of socioeconomic

development and living standards of the people in any country. It is a product

65
of a large and technologically complex industry having strong forward and

backward linkages in terms of material flows and income generation. All major

industrial economies are characterised by the existence of a strong steel

industry and the growth of many of these economies has been largely shaped

by the strength of their steel industries in their initial stages of development.

Steel industry was in the vanguard in the liberalisation of the industrial sector

and has made rapid strides since then. The new Greenfield plants represent the

latest in technology. Output has increased, the industry has moved up i n the

value chain and exports have raised consequent to a greater integration with the

global economy. The new plants have also brought about a greater regional

dispersion easing the domestic supply position notably in the western region.

At the same time, the domestic steel industry faces new challenges. Some of

these relate to the trade barriers in developed markets and certain structural

problems of the domestic industry notably due to the high cost of

commissioning of new projects. The domestic demand too has not improved to

significant levels. The litmus test of the steel industry will be to surmount these

difficulties and remain globally competitive.

It has been observed that steel industry has grown tremendously in the last one

and a half decade with a strong financial condition. The increasing need of steel

by the developing countries for its infrastructural projects has pushed the

companies in this industry near their operative capacity.

66
INDUSTRY OVERVIEW

Steel is the world‟s third largest commodity market with a dollar value in

excess of $700 billion. In recent years, the industry has undergone radical

restructuring and has become more global, more efficient and more financially

viable. Events have resulted in high prices, supply disruptions and increased

volatility, all elements which the existence of futures contracts can help the

industry to manage.

Exceptional growth continues to be seen in the global consumption of finished

steel products. Growth in steel demand is highest in the developing world.

China has increased its domestic consumption from 53 million tonnes in 1990

to nearly 350 million tonnes in 2005.

Economic growth in the developing world tends to be more steel intensive than

growth in developed nations. As a result, steel plays a vital role in these new

economies.

World steel trade has expanded as global consumption has increased. In 1990

international steel trade was 167 million tonnes and is forecast to grow to 353

million in 2015.Global steel production has continued to increase but, at a

lesser rate to previous years. In 2005, the total world crude steel production

was 1,107.2 million metric tons and was valued at over $700 billion. This

growth is estimated to continue until 2015 at a rate of approximately 4% per

year. Previously from 1990 to 2000, the growth rate was only 1.6% per year.

67
THE GLOBAL STEEL INDUSTRY

The current global steel industry is in its best position in comparing to last

decades. The price has been rising continuously. The demand expectations for

steel products are rapidly growing for coming years. The shares of steel

industries are also in a high pace. The steel industry is enjoying its 6th

consecutive years of growth in supply and demand. And there is many more

merger and acquisitions which overall buoyed the industry and showed some

good results. The subprime crisis has lead to the recession in economy of

different countries, which may lead to have a negative effect on whole steel

industry in coming years. However steel production and consumption will be

supported by continuous economic growth.

The most significant growth that can be seen in the steel industry has been

observed during the two decades that is 1960s and 1970s, when the

consumption of steel around the whole world doubled. Between these years,

the rate at which the steel industry grew has been recorded to be 5.5 %. In late

70s the industry showed a deceleration in growth. After this period, the

continuous fall slowed down and again started its upward movement from the

early 1990s.

New innovations are also taking place in Steel Industry for cost minimization

and at the same time production maximization. Some of the cutting edge

technologies that are being implemented in this industry are thin-slab casting,

making of steel through the use of electric furnace, vacuum degassing, etc.

68
INDIAN STEEL INDUSTRY

Steel Industry in India is on an upswing because of the strong global and

domestic demand. India's rapid economic growth and soaring demand by

sectors like infrastructure, real estate and automobiles, at home and abroad, has

put Indian steel industry on the global map.

The finished steel production in India has grown from a mere 1.1 million

tonnes in 1951 to 36.957 million tonnes in 2003-04. During the first two

decades of planned economic development, i.e. 1950-60 and 1960-70, the

average annual growth rate of steel production exceeded 8%. However, this

growth rate could not be maintained in the decades that followed. During 1970-

80, the growth rate in steel production came down to 5.7% per annum and

picked up marginally to 6.4% per annum during 1980-90.

The production during the last decade has doubled. Though India started steel

production in 1911, steel exports from India began only in 1964. Exports in the

first five years were mainly due to recession in the domestic iron and steel

market. Upon revival of the domestic demand there was a decline in exports.

India once again started exporting steel only in 1975 touching a figure of 1

million tonnes of pig iron export and 1.40 million tonnes of steel export in

1976-77. Thereafter, exports again fell rapidly to meet rising domestic demand.

It was only after liberalisation of the steel sector that the exports of iron and

steel have once again started increasing.

Transformation of Indian steel industry after liberalisation

69
India's Steel Industry is more than a century old. Before the economic reforms

of the early 1990s the Indian steel industry was a predominantly regulated one

with the public sector dominating the industry. Tata Steel was the only major

private sector company involved the production of steel in India. Sail and Tata

Steel have traditionally been the major steel producers of India. In 1992, the

liberalization of the India economy led to the opening up of various industries

including the steel industry. This led to the increase in the number of

producers, increased investments in the steel industry and increased production

capacity. Since 1990, more than Rs 19,000 crores (US$ 4470.58 million) has

been invested in the steel industry of India.

India's steel industry went through a rough phase between 1997 and 2001 when

the overall global steel was facing a downturn and recovered after 2002. The

major factors that led to the revival of the steel industry in India after 2002 was

the rise in global demand for steel and the domestic economic growth in India.

India has now emerged as the eighth largest producer of steel in the world with

a production capacity of 35MT. Almost all varieties of steel is now produced in

India. India has also emerged as a net exporter of steel which shows that Indian

steel is being increasingly accepted in the global market.

The growth of the steel industry in India is also dependent, to a large extent, on

the level of consumption of steel in the domestic market. Steel consumption is

70
significant in housing and infrastructure. In recent years the surge in housing

industry of India has led to increase in the domestic demand for steel.

Policy changes

The important policy measures, which have been taken for the growth and

development of the Indian iron and steel sector, are as under:

 In the new industrial policy announced in July, 1991, iron and steel

industry among others, was removed from the list of industries reserved

for the public sector and also exempted from the provisions of

compulsory licensing under the Industries (Development and Regulation)

Act, 1951.

 With effect from 24.5.92, iron and steel industry was included in the list

of „high priority‟ industries for automatic approval for foreign equity

investment upto 51%. This limit has since been increased to 100%.

 Pricing and distribution of steel were deregulated from January, 1992. At

the same time, it was ensured that priority continued to be accorded for

meeting the requirements of small scale industries, exporters of

engineering goods and North Eastern Region, besides strategic sectors

such as Defence and Railways.

 The import regime for iron and steel has undergone major liberalisation

moving gradually from a controlled import by way of import licensing,

foreign exchange release, canalisation and high import tariffs to total

freeing of iron and steel imports from licensing, canalisation and

71
 lowering of import duty levels. Export of iron and steel items has also

been freely allowed.

 Import duty on capital goods was reduced from 55% to 25%. Duties on

raw materials for steel production were reduced. These measures reduced

the capital costs and production costs of steel plants.

 Freight equalisation scheme was withdrawn in January 1992. However,

with the coming up of new steel plants in different parts of the country,

iron and steel materials are freely available in the domestic market.

 Levy on account of Steel Development Fund was discontinued from

April, 1994 thereby providing greater flexibility to main producers to

respond to market forces

 Industrial and Trade Policy Resolutions in 1991 with regard to the Steel

industry

– Exempted from industrial license system

– Abolition of price controls

– Liberalising conditions for FDIs

– Liberalisation of imports and exports

– Lowering tariff level

Changes after the economic liberalisation

• Steel production and export increased much faster than before

• This increase attributable to new comers

• Technology catching up rapidly

72
 • New type of steel firms appeared

• Flat products imported and exported

Emerging trends in steel industry

An increasing investment in infrastructure, construction and urbanisation as

well as growth in automobile, white goods and industrial sector is a further

boost to the optimism within the domestic steel industry.

Power: Addition of 41,000 MW of power generating capacity between 2002

and 2007 and about 61,000 MW between 2007 and 2012 should drive steel off

take, leading to an incremental consumption of 0.4 million tones in FY2006

itself.

Roads: The government intends to embark on the construction of 48 new

projects with a view to four lane about10,000 kms of roads in addition to the

existing ongoing programme of National Highway Authority of India.With

steel intensity in the roads under construction being considerably higher than

the legacy infrastructure, the outlook for increased steel consumption on this

count appears to be brighter.

Housing: Low interest rates and easy availability of housing finance has

resulted in a housing boom; the Housing and Urban Development Corporation

intends to add two million houses every year (35 per cent in urban areas),

estimated to create an additional annual demand of 0.6 to 0.8 mtpa of steel.

73
Malls: From 25 malls in 2003, India expects to commission more than 220

malls by 2006 (estimated 40 million sq ft) and 600 malls by 2010 (100 million

sq ft).

Automobile and ancillaries: In 2004-5, India‟s auto industry consumed about

2.8 mt of steel (about 8 per cent of India‟s steel consumption). This is expected

to grow at 11-12 per cent over the next three years following India‟s emergence

as a global outsourcing hub for the auto industry.

White goods: Rising income and the easy availability of low cost finance has

started a white goods (refrigerators, air conditioners and washing machines)

revolution in India, leading to an increased consumption of steel.

Industrial Projects: India‟s industrial growth is encouraging a number of

companies to reinvest leading to an increased consumption of steel, the steel

industry is expected to emerge as a major steel consumer itself.

The positive outlook for increasing steel demand in India along with the

strategic advantages offered have resulted in a keen interest from domestic and

international steel majors for setting up steel projects in India.

JSW Steel Ltd

JSW Steel Ltd. is one among the largest Indian Steel Companies in India today.

India‟s third largest steelmaker, JSW Steel Ltd. consists of the most modern,

eco-friendly steel plants with the latest technologies for both upstream &

downstream processes.

74
We are among the largest integrated steel companies in India, having

established production facilities at close proximity to the mineral resources as

well as to the market for its products. Our cost of production is among the

lowest in the country due to locational advantages, strong leadership, and

committed work force.

The integrated steel plant at Toranagallu in Bellary District of Karnataka

produces hot rolled coils of various Carbon and Low Alloy grades of steel for

wide application ranging white goods, automotive, line-pipe, railway wagons

etc. We have adopted the technology of iron making using pellets through the

novel Corex process as well as in the conventional Blast Furnace route. We are

among the few plants in the world to adopt and successfully operate Vibro-

compacted non-recovery coke-oven, utilizing the heat of the flue gases for

power generation.

Competitive Strengths

• Location: Upstream facility is located in the Iron Ore rich belt of Bellary-

Hospet region of Karnataka. The strategic location of the manufacturing units

with respect to established ports and well connected rail and road networks

ensures reliable and cost efficient receipt of raw materials and dispatch of

finished steel.

• Technology: In order to maintain quality and cost of products they have

adopted technologies such as Vibro compacting non-recovery Coke Ovens, the

novel Corex Process as well as the conventional Blast Furnace route of Iron

Making.

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• Integrated operations: They have a vertically integrated company with

operations spanning across iron ore mining to manufacture of value added

galvanized and colour coated products. For preserving competitive advantage,

they focus on developing advanced skill sets within the organization through

internal research and development efforts as well as tie up with leading

companies.

• Marketing: Having one of the largest galvanising capacities in the country,

JSW is one of the largest exporters of galvanized products to over 50 countries

in five continents.

Professional Management: As part of corporate governance practices, they

have a qualified and experienced management in addition to a diversified

independent board.

Business Strategy

 Capacity enhancement: They intend to leverage proximity to iron ore

reserves and the existing infrastructure to expand capacities at low

specific investment cost per ton..

 Increase vertical integration: Their impetus has been to increase the

vertical integration through strategic tie up, long-term linkages and

acquisitions aimed at ensuring availability of critical raw materials at

low cost.

 Improve product profile: They intend to improve the value added

products in product mix to withstand the vagaries of price volatilities

76
 besides being able to offer suite of products to meet the growing

requirements of the customers. Aligned to this strategy, they had merged

the steel business of JISCO, which was into manufacture of value added

products – HR Plates, Cold Rolled and Galvanised.We are modernizing

hot strip mill to increase hot rolled product capacities while also setting

up a 1 mtpa CRM complex to meet the growing demand for value added

products.

 Improve financial profile: Being part of a capital-intensive industry with

high volatility in the product prices, they need to maintain a healthy

financial profile. They have accordingly reduced debt significantly over

the last couple of years bringing down the gearing levels and also intent

to maintain low gearing ratio and propose to reduce debt levels going

forward to make resilient to any downward pressure of steel prices and

continue smooth operations.

 Investing in technology to improve productivity and reduce wastage:

they have invested in latest technologies for efficient operations and are

continuing to improve to ensure that best operating practices are

followed.

The initiatives are adopted across company including areas related to

coal distribution, refractory relining file and plant availability enabling

to improve efficiencies resulting in reduced costs.

77
SWOT ANALYSIS

Strengths

• They are one of the major players in the steel sector and have a diversified

client base. They have adequate experience and expertise as an integrated steel

producer and have withstood the cyclic fluctuations that have characterized the

steel industry in the past.

• They are one of the low cost producers of Hot Rolled coils, which forms a

key input for their CRM project. They also use the Corex-BOF route for

making steel, which requires less amount of coke.

• They have sourcing arrangements with suppliers of power and oxygen which

reduces vulnerability to fluctuations in the prices of these raw materials.

Weaknesses

• The debt / equity ratio or gearing is relatively high compared to some of the

other integrated steel producers in India. They are actively taking steps to

rationalize further high cost debt to reduce interest burden.

• The profitability of the Company is dependent on prices of key inputs such as

iron ore, coal and zinc. Though the Company mitigates these risks by entering

into strategic tie-ups / sourcing contracts with raw material suppliers, any

adverse fluctuations in the input costs would affect the margins of the

Company.

Opportunities

• Compared to the global per capita steel consumption average and the steel

consumption average for developed world, India‟s per capita consumption of

78
steel is extremely low. To address this low consumption of steel the National

Steel Policy 2005 envisages steel production to grow at 7.3% CAGR to 110

Mtpa from the present levels of finished steel production at 38 Mtpa. It also

envisages steel imports growing at 7.1% CAGR (Compound Annual Growth

Rate) from the present level of 2 Mtpa to 6 Mtpa and steel exports to grow at

13.3% CAGR from the prevailing 4 Mtpa (Metric Tons Per Annum) to 26

Mtpa leading to a healthy apparent steel consumption of 90 Mtpa by the F.Y.

2019- 20, a 6.9% CAGR growth. Several initiatives taken by the Government

of India in the form of infrastructural development programs such as the

National Highway Development Programme, the Indira Awas Yojna and the

National Urban Renewal Programme are expected to have a beneficial impact

on the demand for steel.

Demand for Hot Rolled, Cold Rolled and Hot Dipped Galvanized Steel

products – forming the steel-valuechain for the Company is expected to

substantially benefit from the positive impact of these initiatives.

• The Cold rolled products are used in the automobile sector. There is a major

opportunity for them to market their products on a large scale to the automobile

sector resulting from robust growth in the demand for automobiles combined

with stringent regulations on pollution control pertaining to old vehicles.

• India is perceived to be one of the manufacturing destinations for steel

making globally and this may propel to meet the demand not only domestically

but also internationally.

79
Threats

• The steel industry is characterized by cyclical fluctuations in prices of

finished steel products as well as those of the key inputs. Any downward

cyclical movement in the steel sector could reduce the demand for steel and

reduce profitability.

• Operating margins could come under pressure if there is a fall in the demand

for steel and increase in input costs. However, since JSW is one of the lowest

cost producers in the market, they may still be able to maintain reasonable

operating margins for their products.

• The Indian steel industry is highly competitive. They face substantial

competition in the steel industry, both from Indian and international companies.

Domestic as well as international steel majors like Tata Steel, POSCO and

Mittal Steel have announced plans to set up manufacturing facilities in India.

This could lead to excess capacity and consequently downward pressure on the

prices of finished steel products.

80
 PRODUCTS AND SERVICES

RAILS
Grades: IRS 52, UIC 54, UIC 60, CR 80 & CR 100.
Size Range:Up to 121 meters.
Applications: Railway tracks, Railway siding of power plants, refineries, crane
rails for port and harbors, factories, mines, launch pads and shipyards.

PARALLEL FLANGE BEAMS

Grades: UB, NPB, WPB and IPE series.
Size Range: 180mm to 900mm.
Applications: Refineries, airports, flyovers, metro rail projects, shopping
malls, power plants, stadium, steel plants, industrial sheds and among others.

81
TMT REBARS
Grades: 500, 500D, 550, 550D, 600 & CRS.
Size: 6mm to 40mm
Applications: Concrete re-enforcement structures, bridges, flyovers, dams,
industries, roads and tunnels, used in coastal areas and earthquake zones.

WIRE RODS
Grade: MS, MC& HC, EQ, Boron and other Alloy Steel.
Size: 5.5mm to 22mm.
Applications:Bolts, Rivets, screws, general purpose wires, electrode wires,
industrial wires, agriculture wire, staple pin wires, pre-stressed concrete wires,
spring and rope wires, needle wires, safety pin wires, earth wires etc.

82
ANGLES AND CHANNELS
Angles: 50mm to 250mm
Channels: 100mm to 400mm
Applications: Power Sector, infrastructure construction, steel and cement plant
construction, telecom line tower, bus/truck body construction, industrial sheds,
commercial and individual houses and others.

FABRICATED STRUCTURE
Grades: H-type beams, I-type beams, Box sections and Star columns.
Dimensions:Depth- 350mm to 3000mm, Flange Width- 250mm to 1000mm,
Length- 3 to 18m, Flange thickness- 6mm to 80mm.
Applications:Large support columns and beams for manufacturing and process
plants, airports, high rise buildings, power plants, stadium and flyovers.

83
 STPs

STP

Segment Mining, Power Generation and Infrastructure, Ferro Chrome, Sponge

Iron, Petroleum, Cement

Target Construction, Oil & Gas, Transportation, Refining, Telecom, Ship

Group Building, Power, Automobiles, Capital Goods, Consumer Durables and
Infrastructure Sector.

Positionin One of the most prestigious and dynamic business group in the World
g

MAJOR COMPETITORS

Name Last Price Market Cap. Sales Net Total Assets

(Rs in Cr) Turnover Profit

Jindal Steel 85.30 7,804.13 12,734.80 -1,018.88 35,356.50

Gallant Ispat 582.40 2,241.17 534.96 28.59 458.87

Tata Sponge 611.25 941.33 573.53 30.83 807.46

Sarda Energy 164.10 590.40 1,035.21 37.55 1,422.04

84
Monnet Ispat 23.45 470.80 1,853.81 -1,683.23 8,662.56

Gallantt
42.75 347.65 673.50 41.58 372.58
Metal
Godawari
52.20 170.99 1,538.89 -63.39 1,875.10
Power
Gyscoal
70.30 111.27 159.33 -13.25 173.27
Alloys

MSP Steel 11.25 99.11 904.52 -178.44 1,728.24

AdhunikMet
7.80 96.33 467.17 -289.05 2,722.87
alik

Jai BalajiInd 10.20 85.10 1,212.57 -666.12 2,495.47

VaswaniInd 8.95 26.85 237.51 1.16 126.79

Ankit Metal 1.65 23.28 962.09 -357.20 1,510.13

85
 PESTEL ANALYSIS

Indian steel is doing well from many years. Steel industry is contributing near

about 1.2% in the total GDP. Because of the industrial growth and other

important developments happening all over the world the so rapid rise in

demand of the steel is observed in this sector. The major players in the steel

industry are SAIL (Steel Authority of India.), TATA STEEL, ESSAR STEEL

and JINDAL STEEL & POWER.

Indian steel mainly contributes in the finished steels, semi-finished steel, pig

iron and stainless steel. Private sector plays very important role in the Indian

steel industry. The private sector in the steel industry contributes approximately

2/3rd of the total market of the steel.

Asian countries are in the lead with the production of the steel, China is the top

producer among the Asian countries which are contributing high a supply of

the steel in the international market.419million ton of the steel is produced only

in the China. In past 6 years there are many acquisitions and mergers are

happening in the steel industry. May be this could be the one of the reasons

behind this tremendous growth globally.

After the china country, Japan, India, and South Korea. India is contributing

total of the 53million ton steel in global market. The japan is producing only

9% of the steel which is contributed to the global steel market. India is also one

of the major counties in the production of the steel. The east, south, and west

regions are important for the steel industry in India. In India because the vast

availability of resources and major industry players India is enjoying the boom

86
in this sector which are responsible of the growth in the GDP. The opening up

the economies in the global market is responsible for the high investment in the

industry sector where lots of acquisitions and mergers are happening in the

industry.

The PESTEL ANALYSIS of the industry is divided into five parts which can

be discussed as follows:

P- Political analysis

E- Economic analysis

S- Socio-culture analysis

T- Technological analysis

E- Environmental analysis

L- Legal analysis.

87
POLITICAL ANALYSIS:

Political analysis includes the factors which can influence the business. It is

included the political factor which includes the policy offered by the

government to the specific sector. Here for this sector government introduces

the National Steel Policy. The main aim for the introduction of this policy is to

fill the gap between the demand and supply of the steel. To increase the

production up to million ton is also the main objective of the policy.

Under this policy the special incentives are designed for the steel sector.

Incentives like the cut in the duty, zero duty on imports, provision of the land

and other infrastructural facilities are the facilities provided for the steel sector.

Under this policy the government is encourage to the use the full opportunities

available in the PUBLIC AND PRIVATE PATNERSHIP (PPP). With the

growing industry the government is increased the sales tax from the 15% to

20% where as 75% FDI (foreign direct investment) is allowed in the industry

this scheme also provides the various concessions in the custom duties. Though

there is a rise in the infrastructure facilities in the country but considering the

steel industry the present condition of the infrastructure is not sufficient in the

nature .because of the lack in infrastructure steel industry is facing many

problems.

88
ECONOMICAL ANALYSIS:

STEEL industry is concern to be a very booming industry from past decades.

Opening up with the various economies the foreign direct investment is the

happened in this sector the various foreign players are interested to invest in the

country. Under the various economies schemes there is permission in advance

licensing scheme which allows the duty free imports of raw material for

exports. But, with the boom in the industry GDP is rising at very slow rate. The

steel industry is also facing the problem of the subprime crisis occurs in the

united states before 15 months. Because of the subprime crisis there is ill effect

occurs in the automobile industry, infrastructure and other business which are

related with the steel industry. There is huge gap between the demand and the

supply of the steel in the society.

89
SOCIO- CULTURE ANALYSIS:

The socio culture is one of the important aspect in the analysis of the industry it

describes the impact of the particular industry on the society. Likewise the steel

industry also give the encouragement to the permanent employment to the

people but on the other hand it divides the area in to the rural and urban sector

because the industry is only in the particular area only which leads to the

particular development of that area only and not overall the development

because of the working conditions the people which are employed in the steel

industry faced many health problems which are incurable in the nature and

many industries are not paying the attention on the health of the employees.

Any kind of the allowances are not given to the employees. Steel industry is

also responsible for the development in the rural sector which leads to the rise

in the standard of the living of the people.

90
TECHNICAL ANALYSIS:

The traditional technologies are being used from many years in the industry.

There is no innovation in the use of the technique in the production process.

The Tata steel is developing the same technique is by which the encouragement

is given to the trading of the steel. Tata and sail introduces the online trading of

the steel. Only the electric furnace is being used now days in the production

process but because of the fluctuations in the energy there is wastage in the raw

material. The basic technologies are used in the production process are basic

arc, induction furnace and electric furnace which are outdated in the nature.

Sail the one of the leading steel industry India is planning to set up a plan with

PASCO for using the latest technology.

91
ENVIRONMENTAL ANALYSIS:

Though the steel industry is encouraging the many sectors and the encouraging

the development it is creating the unfavorable environment in the nature. The

all leading industries are following the environmental acts which are declared

by the governments, though it is creating very bad impact on the environment.

Many industries are using the pollution control equipment and energy saving

equipment but that is not sufficient in the nature. The least importance is given

to the environmental aspect. But the Tata steel is encouraging the ecofriendly

system, to reduce the emission the carbon dioxide during the production

process.

92
LEGAL ANALYSIS:

Government is introducing the various rules and regulations of this particular

industry. The government is about to paying the more attention in the health

policies of the employees which are working with the steel industry. Special

health incentives and rules are introduced in the steel industry.

93
 4 P’s Analysis

JINDAL STEELS PRODUCTS

1. PRODUCT: -

Hot Rolled products:

HR Coil, HR plate and sheet.

Applications: Automobile, Boiler and Pressure Vessels, Ship Building,

Railways,

Transmission Towers, Oil and Petro Chemicals, Marine Containers, Coal and

Mining

General and Heavy Engineering

Cold Rolled Products:

CR coil and Sheet

Applications: Automobile, White good, Cold rolled formed section, General

engineering

& fabrication, Packing, Drums/ barrels, Furniture

Galvanized Product:

Galvanized Corrugated Sheet, GP Sheet and Coil

Applications: Automobile, Boiler and Pressure Vessels, Ship Building,

Railways,

94
Transmission Towers, Oil and Petrochemicals, Marine Containers, Coal and

Mining,

General and Heavy Engineering.

Pre-Painted Galvanized Product:

PPGI coil, PPGI sheet, PPGI profile

Application: Roof, Wall cladding and other building products, Household

appliances,

Furniture, Automotive.

2. PRICE

Pricing is one of the most crucial elements behind a successful product. It is

more pragmatic and fact oriented in industrial marketing as compared to

pricing for consumer products. Pricing in industrial marketing is closely related

to the firm‟s product, distribution and communication strategies.

Factors Influencing Pricing Strategy in Steel Industry

The most important factors which affect pricing strategies in steel industry are:

1. Production Costs

2. Market demand (derived in nature)

3. Competition

4. Government regulations

95
 3. PLACE

Place represents the location where a product can be purchased. But in

industrial marketing place is often referred to as the distribution channel.

Distribution Channels at Jindal Steel:

Jindal Steel has launched Jindal Shoppe to markets its steel products as

compared to productslaunched by TATA Steel. The exclusive Jindal

showrooms retail all types of Jindal steel, ranging from HR coil to color-coated

steel.

JINDAL aims to provide a unique experience of buying steel products

throughbranded distribution channels. It started off with an idea to give a

different feel and ambience to steel retail. Jindal Steel wanted to give a feel of a

mini-departmental store or a mall, which would have the same format, same

look and feel wherever the buyer goes in the country. So, it will give a

branding to the distribution channel. It will also display all the products in one

place so that the customer gets a touch and feel of what the steel looks like. The

smaller towns will be focus areas. The bigger towns and metros will also have

shops, but their focus is on tier 2 and 3 cities.

4. PROMOTION

In B2B marketing advertising, promotions and publicity plays an important

role in the communication strategies. Hence, to contribute to the overall

effectiveness of the promotional strategies utmost care must be taken by the

companies.

96
B2B promotion is used to create awareness of the company, to increase the

sales of the product and to increase the overall effectiveness of the selling

efforts. The promotional programme begins with carefully developed

advertising objectives that must be formulated from corporate and marketing

objectives in such a manner as to set the direction for creating, co-coordinating,

and evaluating entire promotional programme.

97
 Key Focus Areas

 Reduce dependence on thermal coal by going through BoF route.

 Operational Efficiency with an aim to Reduce overall cost in Steel

Production

 Commissioning of Head Hardening Rail Project in Raigarh.

 Optimize capacity utilization of Angul and Patratu plants.

 Increase Retail Steel products sales in contiguous states.

98
 Factors that Lead to Growth of the Company

 Production and on time delivering quality products that conform to our

customers‟ requirements.

 Continually improving our systems and processes by value addition and

product development through innovation.

 Up gradation of relevant technology for continuing suitability to the

changing needs of the organization and ensure training and development

of the employees.

 Involving all employees for implementing and continually improving

the effectiveness of the quality management system.

 Periodically reviewing the policy and quality objectives and

communicating across the organization to align with the business

requirements.

 Training and motivating all employees to ensure that the entire

corporation is equipped and capable of achieving quality objectives.

99
 The Human Resource Management

Human Resource Development (HRD) is the frameworks for helping

employees develop their personal and organizational skills, knowledge, and

abilities. Human Resource Development includes such opportunities as

employee training, employee career development, performance management

and development, coaching, mentoring, succession planning, key employee

identification, tuition assistance, and organization development.

The focus of all aspects of Human Resource Development is on developing the

most superior workforce so that the organization andindividual employees can

accomplish their work goals in service to customers.

Organizations have many opportunities for human resources or employee

development, both within and outside of the workplace.

This shift in the way human resources are treated has come about due to the

prevailing notion that human resources are sources of competitive advantage

and not merely employees fulfilling their job responsibilities. The point here is

that the current paradigm in HRD treats employees as value creators and assets

based on the RBV or the Resource Based View of the firm that has emerged in

the SHRM (Strategic Human Resource Management) field. One reason for the

emergence of the RBV or the SHRM paradigm is that with the advent of the

service sector and the greater proportion of companies in the service sector,

employees are not merely a factor of production like land, labor and capital but

in fact, they are sources of competitive advantage. As a matter of fact, many IT

100
and Financial Services companies routinely refer to employees as the value

creators and value enhancers rather than just resources doing their job.

The field of HRD now has taken on a role that goes beyond employee

satisfaction and instead, the focus now is on ensuring that employees are

delighted with the working conditions and perform their jobs according to their

latent potential which is brought to the fore. This has resulted in the HRD

manager and the employees of the HRD department becoming partners in the

organization‟s progress.

101
 Challenges Faced By the Company

With increasing competition, the company faces too many risks.

 Having large number of substitutes, the company cannot charge more

from the prospective customer, so the profit margin is reduced

 By using the new and advanced technology the cost of providing the

service has increased and that is why the company is restricted on

generating limited revenue

 Rising input costs for cement and other materials

 Longer working capital cycle

 Shortage of skilled manpower

 Big and powerful competitors with large revenue

 Rivalry among the existing competitors in the industry is high.

102
 Solutions

 Better understand our risk profile.

 Understand and better manage the uncertainties which our performance.

 Contribute to safeguarding company value and interest of various

stakeholders.

103
 CHAPTER-3
SCOPE OF THE STUDY

104
 SCOPE OF THE STUDY

This project acts as a reference guide or as a source of information. It gives the idea

about the job satisfaction in company. The main scope of the study was to put into

practical the theoretical aspect of the study into real life work experience. The study

deals with analysis questions of many people and idea about company job

satisfaction. And also study has been conducted for gaining practical knowledge

about HR practice.

This particular topic is selected because employee job satisfaction is a very

important element necessary for the smooth functioning of an organization.

Employee surveys provide a channel for employee to communicate their views

on a wide range of issues in total confidence. They help management to build

up an accurate picture of how employees perceive the organization and

highlight the causes of employee dissatisfaction.

105
 CHAPTER-4
OBJECTIVES
OF THE STUDY

106
 OBJECTIVE OF THE STUDY

 To study the satisfaction parameters of employees in Jindal Steel and Power

Limited (JSPL) in New Delhi

 To study the gap in expectations and actual standards of satisfactions

 To study the impact of job satisfaction on performance of employees.

107
\

CHAPTER-5
RESEARCH
METHODOLOGY

108
 RESEARCH METHODOLOGY
Research is a common parlance which refers to search for knowledge. It is a

procedure of logical and systematic application of the fundamentals of science

to the general and overall questions of a study and scientific technique, which

provide precise tools, specific procedures, and technical rather philosophical

means for getting and ordering the data prior to their logical analysis and

manipulating different type of research designs is available depending upon the

nature of research project, availability of manpower and circumstances.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis

of data in a manner that aims to combine relevance to the research purpose with

economy in procedure. In fact, the research design is the conceptual structure

within which research is conducted. This research was descriptive in nature

DESCRIPTIVE RESEARCH:

The research undertaken was a descriptive research as it was concerned with

specific predictions, with narration of facts and characteristics concerning a

study on Job satisfaction of employees working in Jindal Steel and Power

Limited (JSPL) New Delhi.

a. METHODS OF DATA COLLECTION. There are several methods of

collecting primary data, particularly in surveys and descriptive researches.

In descriptive research, we obtain primary data either through observation

or through direct communication with respondents in one form or another

109
 or through personal interviews. I have used questionnaires(Primary) and

Internet source (Secondary) for data Collection

b. DATA SOURCE

There were two types of data sources used in this research. These were

PRIMARY DATA

Primary data is the data collected for the first time from the source and never

have been used earlier. The data can be collected through interviews,

observations and questionnaires.

SECONDARY DATA

Secondary data is the data collected from already been use or published

information like journals, diaries, books, etc .In this research project, secondary

source used were various journals, and website of various online journals.

c. SAMPLE DESIGN

A sample design is made up of two elements. Sampling method. Sampling

method refers to the rules and procedures by which some elements of the

population are included in the sample. Some common sampling methods are

simple random sampling, stratified sampling , and cluster sampling .

I have used convenient sample for study.

d. UNIVERSE OF STUDY: Universe of the study means all the employees

of JINDAL STEEL AND POWER LIMITED (JSPL) in New Delhi.

110
SAMPLE AREA: Jindal Steel and Power Limited (JSPL), New Delhi.

e. SAMPLE SIZE: A sample of minimum respondents will be selected from

Jindal Steel and Power Limited (JSPL) New Delhi. An effort was made to

select respondents evenly. The survey was carried out on 100 respondents.

f. SAMPLE UNIT: Employees of Jindal Steel and Power Limited (JSPL)

New Delhi

g. STATISTICAL TOOLS TO BE USED: A structured questionnaires is

used to collect the data and data will be analyze with the help of percentage

table, respective graph, bar graph and pie charts.

TOOLS OF PRESENTATION:

It means what all tools are used to present the data in a meaningful way so that

it becomes easily understandable. In this research tables and graphs were used

for presenting the data.

111
 CHAPTER-6
LIMITATIONS

112
 LIMITATIONS OF THE STUDY

1. The study is limited to the HR of Jindal Steel and Power Limited (JSPL). So

the study is subject to the limitation of area.

2. The time period of the study was limited which may provide a deceptive

picture in comparison of the study based on long run.

3. Sampling size was of only 100, because only these people had attended soft

skill development training.

4. The study is based only on secondary & primary data so lack of keen

observations and interactions were also the limiting factors in the proper

conclusion of the study.

113
 CHAPTER-7
DATA ANALYSIS
&

INTERPRETATION

114
 DATA ANALYSIS & INTERPRETATION

A. Classification as per Gender

Male Female
Respondent 70 30

No of respondent

30%

Male

70% Female

Figure 1: Classification as per Gender

Interpretation:
(Figure no6. 1) Total number of respondents is 100 out of which 70% are male and
20% are female respondents. Hence we can say that the majority of our respondents
are Female.

115
 1. Working hours of the organization is convenient?

Working hours is convenient No. of respondents % of respondent

Strongly agree 48 48
Somewhat agree 36 36
Neither agree nor disagree 6 6
Somewhat disagree 4 4
Strongly disagree 6 6
Total 100 100

Working hours is convenient

4%
6% 6%
Strongly agree

Somewhat agree

48%
Neither agree nor
disagree
Somewhat disagree
36%
Strongly disagree

Interpretation: (Figure no6. 2)From survey we come to know that most of the
employees are strongly agree and least of the employees are somewhat agree.

116
2)State the level of satisfaction towards the salary paid to you by the
Jindal Steel and Power Limited (JSPL)?
Satisfaction level towards the No. of respondents % of respondent
salary
Completely satisfied 10 10
Somewhat Satisfied 32 32
Neither satisfied nor dissatisfied 10 10
Somewhat dissatisfied 4 4
Completely dissatisfied 44 44
Total 100 100

Satisfaction level towards the salary

10%

Completely satisfied
44% Somewhat Satisfied

32% Neither satisfied nor dissatisfied

Somewhat dissatisfied
Completely dissatisfied

10%

4%

Interpretation: (Figure no6. 3)From survey come to know that majority of

employees are somewhat dissatisfied and least of the employees are somewhat
dissatisfied towards the salary.

117
3)How do you feel about working conditions in your organization?
Working condition of the No. of respondents % of respondent
organization
Completely satisfied 22 22
Satisfied 72 72
Neither satisfied nor dissatisfied 2 2
Dissatisfied 2 2
Completely Dissatisfied 2 2
Total 100 100

Working condition of the organization

2% 2% 2%

22% Completely satisfied

Satisfied

Neither satisfied nor

dissatisfied
Dissatisfied

Completely Dissatisfied
72%

Interpretation: (Figure no6.4)From survey come to know that the working condition
of the organization is satisfied because 72% of the employees are satisfied and only
2% are dissatisfied and completely dissatisfied.

118
4) What do you feel about the scope provided by Jindal Steel and Power Limited
(JSPL) for your bright future?
Scope for bright future No. of respondents % of respondent
Extremely satisfied 16 16
Somewhat satisfied 68 68
Neither satisfied nor dissatisfied 8 8
Somewhat dissatisfied 4 4
Extremely dissatisfied 4 4
Total 100 100

Scope for bright future

4% 4%

16%
8%
Extremely satisfied
Somewhat satisfied
Neither satisfied nor dissatisfied
Somewhat dissatisfied
Extremely dissatisfied

68%

Interpretation: (Figure no6. 5) Most of the people happy with the Jindal Steel and

Power Limited (JSPL) for Bright future in terms of time.

119
5) What do you feel about the transport facility?
Transport facility No. of respondents % of respondent
Completely satisfied 6 6
Somewhat Satisfied 22 22
Neither satisfied nor dissatisfied 38 38
Somewhat dissatisfied 28 28
Completely dissatisfied 6 6
Total 100 100

Transport facility

6% 6%

Completely satisfied
22%
28% Somewhat Satisfied

Neither satisfied nor

dissatisfied
Somewhat dissatisfied

Completely dissatisfied

38%

Interpretation: (Figure no6. 6 ) From the survey among all the more number are
about neither satisfied nor dissatisfied & least of completely satisfied.

120
6) Are you satisfied with the medical facilities provided to you?
Satisfaction with the medical facilities No. of respondents % of respondent
Strongly agree 36 36
Somewhat agree 50 50
Neither agree nor disagree 4 4
Somewhat disagree 2 2
Strongly disagree 8 8
Total 100 100

Satisfaction with the medical facilities

2%
4% 8%

36% Strongly agree

Somewhat agree
Neither agree nor disagree
Somewhat disagree
Strongly disagree
50%

Interpretation: (Figure no6. 7) From the analysis we can say that most of the
employees somewhat agree with the medical facilities.

121
7) Are the management handles grievances and complaints on time in your
organization?
Management Handling Grievance No. of respondents % of respondent
and Complaints
Strongly agree 52 52
Somewhat agree 8 8
Neither agree nor disagree 24 24
Somewhat disagree 6 6
Strongly disagree 10 10
Total 100 100

Management Handling Grievance and

Complaints

10%
6%
Strongly agree
Somewhat agree

52% Neither agree nor disagree

24%
Somewhat disagree
Strongly disagree

8%

Interpretation: (Figure no6. 8) From the analysis it can be conclude that many of
them are strongly agree and few of them are least agree.

122
8) Is the relationship between employee and management is good?
Relationship between employee and No. of respondents % of respondent
management is good
Strongly agree 52 52
Somewhat agree 8 8
Neither agree and nor disagree 24 24
Somewhat disagree 8 8
Strongly disagree 8 8
Total 100 100

Relationship between employee and

management is good

8%
8%
Strongly agree
Somewhat agree

52% Neither agree and nor disagree

24%
Somewhat disagree
Strongly disagree

8%

Interpretation: (Figure no6. 9) From the analysis we can conclude that majority of
the employees strongly agree about the interpersonal relationship between the
employees.

123
9) Do you think that your talent or intelligence is encouraged by Jindal Steel and
Power Limited (JSPL)?
Talent is encouraged No. of respondents % of respondent
Strongly agree 34 34
Somewhat agree 56 56
Neither agree nor disagree 2 2
Somewhat disagree 4 4
Strongly disagree 4 4
Total 100 100

Talent is encouraged
4%
2%
4%

34% Strongly agree

Somewhat agree
Neither agree nor disagree
Somewhat disagree
Strongly disagree
56%

Interpretation: (Figure no6. 10) From the survey among all the satisfied more
number are about somewhat agree & least of them neither agree nor disagree.

124
10. What are your opinions about the fringe benefits provided to you by Jindal
Steel and Power Limited (JSPL)?
Fringe benefits No. of respondents % of respondent
Completely satisfied 8 8
Satisfied 80 80
Neither satisfied nor dissatisfied 6 6
Dissatisfied 2 2
Completely Dissatisfied 4 4
Total 100 100

Fringe benefits
2%
4% 8%
6%

Completely satisfied
Satisfied
Neither satisfied nor dissatisfied
Dissatified
Completely Dissatisfied

80%

Interpretation: (Figure no6. 11) From the analysis we can say that majority of the
employees are satisfied with the fringe benefits given to them.

125
11. Do you think that the job promotion in this organization is impartial?
Job promotion is impartial No. of respondents % of respondent
Strongly agree 36 36
Somewhat agree 56 56
Neither agree nor disagree 4 4
Somewhat disagree 2 2
Strongly disagree 2 2
Total 100 100

Job promotion is impartial

1
1
2

18 Strongly agree
Somewhat agree
Neither agree nor disagree
Somewhat disagree
Strongly disagree
28

Interpretation: (Figure no6. 12) From the analysis, majority of employees are
somewhat agree that the job promotion in this organization is impartial.

126
CHAPTER-8
FINDINGS

127
 FINDINGS

 Objective 1. (Figure no6.3)From survey come to know that majority of

employees are somewhat dissatisfied and least of the employees are

somewhat dissatisfied towards the salary..

 Objective 2. (Figure no6.4)From survey come to know that the working

condition of the organization is satisfied because 72% of the employees

are satisfied and only 2% are dissatisfied and completely dissatisfied.

 Objective 3. (Figure no6. 9) From the analysis we can conclude that

majority of the employees strongly agree about the interpersonal

relationship between the employees.

 Objective 4. (Figure no6.7) From the analysis we can say that most of

the employees somewhat agree with the medical facilities.

128
 CHAPTER-9
RECOMMENDATION

129
 RECOMMENDATION

The Jindal Steel and Power Limited (JSPL) can also give importance to the
following suggestion:
 The company can take steps to sustain the employees in the

organization.

 The management can pay their attention towards employee job security,

working roles and responsibilities, good working environment.

 The proper grading system for incentives can be also maintained.

 The performance appraisal system can be also be revised based on the

 academic performance of an employee.

 The employee‟s personal vision can be given importance in order to

make them more participative in the management.

130
CHAPTER-10
CONCLUSION

131
 CONCLUSION

Job Satisfaction may act as key to progress for any organization. Because, if

the employees are satisfied with their job, with their management and overall

organizational structure, then their they will be willing to exert their

productivity, the rate of absenteeism will be low enough, they will be reluctant

to turn over to another company, will keep themselves away from deviant

workplace behavior and will engage in organizational citizenship behavior- all

of these attitudes will ultimately help the company to achieve its goal and

maximize its profitability. So, from the perspective of Jindal Steel and Power

Limited (JSPL), Job Satisfaction should be the major concern for organizations

to ensure better work force, better work environment as well as further

development.

It was good learning session for me during my tenure with Jindal Steel and

Power Limited (JSPL). There were well organized environment. While doing

the project, I learnt a lot about various banking operation. This study was

conducted on job satisfaction among Jindal Steel and Power Limited (JSPL)

employees. Job satisfaction is a very big concept as it includes various factors

associated with job satisfaction of employees. Satisfaction varies from

employee to employee. Employees are given equal salaries then also some

employees are satisfied with it and some are not. So at end I would like to say,

that organization should try to take every possible step to enhance job

132
satisfaction among employees because if employees are satisfied then

customers associated with it will also be satisfied.

133
BIBLIOGRAPHY

134
 BIBLIOGRAPHY
Books
 Abdullah, M. M. and Parasuraman, B. (2009), “Employee
Satisfaction among Secondary School Teachers,” Journal
Kemaunusiaan, Vol.13 (1), pp 10-17.
 Abeid A. Amri (2007),“Job Stress among Teachers", Journal of King
Saud University, Vol. 16 (2), pp 16-29.
 Abel, M. H. and Sewell, J. (1999),“Stress and Burnout in Rural and
Urban Secondary School teachers", The Journal of Education Research,
Vol. 92(5), pp. 287 –293.
 Adams, E. (1999), “Vocational Teacher Stress and Internal
characteristics", Journal of Vocational and Technical Education,
Vol.16 (1), pp.112 -123.
 Aggarwal, S. (1987) „„A study of Intelligence, Age, Sex,
Communities and Income Groups,” Indian Psychological Review, Vol.
14(2), pp 47-54.
 Akindutire, I. O. (2006), “Analysis of Role Conflict and Stress of
Physical Education Teachers,‟‟ Journal of Research in Physical,
Health Education and Recreation, Vol.2 (16), pp.139-146.
 Alam, S. Shah (2009), “A Study of Job Stress on Employee
Satisfaction among University Staff in Malaysia,‟‟ European Journal
of Social Sciences, Vol.8 (1), pp 105-128.

Websites:
 https://www.google.co.in/?gfe_rd=cr&ei=zkG0V4mIDaXT8gfy9Ljw
Cw#q=job+satisfaction+bibliography
 https://www.indiamart.com/revival-infratech/
 http://www.revivalinfratechindia.com/AboutUs.aspx

135
ANNEXURE

136
 QUESTIONNAIRE

(Please mark  for the relevant box)

1. Name: _____________________________________

Address: ________________________________________________

1. Does Working hours of the organization is convenient?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees Nor Disagree 

4. Somewhat disagree 

5. Strongly disagree 

2. State the level of satisfaction towards the salary paid to you by the

company?

1. Completely satisfied 

2. Satisfied 

3. Neither Satisfied nor dissatisfied 

4. Dissatisfied 

5. Completely dissatisfied 

137
3.How do you feel about working conditions in your organization?

1. Completely satisfied 

2. Satisfied 

3. Neither Satisfied nor dissatisfied 

4. Dissatisfied 

5. Completely dissatisfied 

4. What do you feel about the scope provided by company for your bright

future

1. Extremely satisfied 

2. Somewhat satisfied 

3. Neither satisfied Nor dissatisfied 

4. Somewhat dissatisfied 

5. Extremely dissatisfied 

5. What do you feel about the transport facility?

1. Completely satisfied 

2. Somewhat satisfied 

3. Neither satisfied nor dissatisfied 

4. Somewhat dissatisfied 

5. Completely dissatisfied 

138
6. Are you satisfied with the medical facilities provided to you?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees Nor Disagree 

4. Somewhat disagree 

5. Strongly disagree 

7. Are the management handles grievances and complaints on time in your

organization?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees Nor Disagree 

4. Somewhat disagree 

5. Strongly disagree 

8. Do you think the relationship between employee and management is good?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees nor disagrees 

4. Somewhat disagree 

5. Strongly disagree 

139
9. Do you think that your talent or intelligence is encouraged by your

organization?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees Nor Disagree 

4. Somewhat disagree 

5. Strongly disagree 

10. What is your opinion about the fringe benefits provided by your

organization?

1. Completely satisfied 

2. Satisfied 

3. Neither Satisfied nor dissatisfied 

4. Dissatisfied 

5. Completely dissatisfied 

11. Do you think that the Job promotion in this organization is impartial?

1. Strongly agree 

2. Somewhat agree 

3. Neither agrees Nor Disagree 

4. Somewhat disagree 

5. Strongly disagree 

140