Murali Project

QWL

A PROJECT REPORT

ON

“QUALITY OF WORK LIFE”

AT

“RELIGARE ENTERPRISES LIMITED”

Submitted in partial fulfilment for the award of

MASTER OF BUSINESS ADMINISTRATION

By

A. MURALI MOHAN

MBA (HR)

Hall Ticket No: 160709672013

Under the guidance of

SHWETA HITESH

Submitted to

THE DEPARTMENT OF MBA

METHODIST COLLEGE OF ENGINEERING &

TECHNOLOGY

(Affiliated to Osmania University)

(2009-2011)

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Date: 21-03-2011

This is to certify that Mr. A MURALI MOHAN bearing H.T.No.

160709672013 is a bonafide student of this college for the years

2009-2011. She/he has worked on the project titled “QUALITY OF

WORK LIFE at RELIGARE ENTERPRISES LIMITED” under

the supervision of SHWETA HITESH Associate Professor,

Department of Business Management of this college and guidance of

Mr. SRIDHAR KANCHARLA, RELIGARE ENTERPRISES

LIMITED.

HOD PRINCIPAL

External Examiner

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CERTIFICATION

This is to certify that the Project Report title “QUALITY OF WORK

LIFE at RELIGARE ENTERPEISES LIMITED” submitted in partial

fulfilment for the award of MBA Programme of Department of

Business Management, O.U. Hyderabad, was carried out by A

MURALI MOHAN under my guidance. This has not been submitted

to any other University or Institution for the award of any

degree/diploma/certificate.

Signature

P.BHANU SIREESHA

DECLARATION

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I hereby declare that this Project Report titled “QUALITY OF WORK

LIFE at RELIGARE ENTEPRISES LIMITED ” submitted by me to the

Department of Business Management, O.U., Hyderabad, is a

bonafide work undertaken by me and it is not submitted to any

other University or Institution for the award of any degree diploma /

certificate or published any time before.

A MURALI MOHAN

HT. No: 160709672013 Signature

ACKNOWLEDGEMENT

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I would like to thank RELIGARE ENTERPRISES LIMITED in Hyderabad,

for giving me an opportunity to do a project in the company. I would

like to extend my sincere thanks to Mr. SRIDHAR KANCHARLA for

guiding me throughout the course of the project.

I would like to thank SHWETA HITESH, Associate Professor,

Methodist College of Engineering & Technology, Abids, Hyderabad,

for her inspiration and timely support in successful completion of

this project work.

.

A MURALI MOHAN

HT.NO: 160709672013

ABSTRACT

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The term Quality of Work Life (QWL) refers to the favourableness or unfavourableness of a total job environment for people. QWL programs are another way in which organizations recognize their responsibility to develop jobs and working conditions that are excellent for people as well as for economic health of the organization.

The main objective is to study the quality of work life of (QWL) employees in RELIGARE ENTERPRISES LIMITED, And to find out how quality of work life leads to high satisfaction, And to know the existing working conditions, Industrial Health and safety help to improve the quality of work life, And To study the workers participation in RELIGARE ENTERPRISES LIMITED

The employees of RELIGARE ENTERPRISES LIMITED expecting from the company to Improve in rewarding and awarding policies and Introduction of Promotion policy at operation level. Employees need high motivation from the top management of the company. Employees need more compensation from the company.

The study, it is clear that quality of work life of employees in RELIGARE ENTERPRISES LIMITED., is good. This research highlights some of the small gaps in employee’s satisfaction towards the company. Compared to other companies believe in employee’s satisfaction and brilliant productivity hours. Quality mission includes not only the quality of the products but also the Quality of Work Life.

RELIGARE ENTERPRISES LIMITED aims to promote the peaceful industrial relations and good organization which is highlighted by management and the employees. Since employees are the backbone of the company. So company should satisfy them in order to improve the business in the higher competitive market of the liberalized economy.

TABLE OF CONTENTS

CONTENTS PAGE NO

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CHAPTER – I. INTRODUCTION 1-13

1. INTENT

2. SIGNIFICANCE

3. OBJECTIVES

4. LIMITATIONS

CHAPTER – II. REVIEW OF LITERATURE 14-33

CHAPTER – III. COMPANY PROFILE 34-52

CHAPTER – IV. DATA ANALYSIS AND INTERPRETATIONS 53-86

CHAPTER – V. FINDINGS, SUGGESTIONS & CONCLUSION 89-95

CHAPTER –V I. BIBILOGRAPHY 96-97

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CHAPTER – I

INTRODUCTION

INTRODUCTION

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INTENT

I have undertaken the project on “Quality of Work Life” as a

part of the curriculum of the IV Semester. The main reason I took up

this project is to learn how different work life situations affect

employees in their working styles.

The main intent/aim of doing this project is to understand what good

quality work life means to employees and how it affects the

companies. The project helps me to understand how a company’s HR

Department tries to improve their business by keeping good relations

with employees. It helps to understand how good working conditions

help employees to work more efficiently. ‘Quality Work Life’

emphasizes on how an employee and employer should keep a proper

balance between their work and family. It emphasizes how people

can keep balance by making their work timings flexible.

QWL basically is all about employee involvement, which consists of

methods to motivate employees to participate in decision making.

This helps in building good relationships. The project gives emphasis

on use of quality circles by companies like Motorola, which helps in

solving many quality and people related problems.

This project is a means to appreciate the nitty-gritty involved

in employee’s relationship with their organization and employers. It

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helps me understand how organizations keep constant check of

health and safety so as to run their business smoothly.

Last but not the least, this project, shows through case studies how

different organizations take care of the working environment, so as

to keep their employees and other associates happy.

WHAT IS QWL?

The term refers to the favorableness or unfavorableness of a

total job environment for people. QWL programs are another way in

which organizations recognize their responsibility to develop jobs

and working conditions that are excellent for people as well as for

economic health of the organization. The elements in a typical

QWL program include – open communications, equitable reward

systems, a concern for employee job security and satisfying careers

and participation in decision making. Many early QWL efforts focus

on job enrichment. In addition to improving the work system, QWL

programs usually emphasize development of employee skills, the

reduction of occupational stress and the development of more co-

operative labor-management relations.

Vigorous Domestic and International competition drive

organizations to be more productive. Proactive managers and human

resource departments respond to this challenge by finding new ways

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to improve productivity. Some strategies rely heavily upon new

capital investment and technology. Others seek changes in employee

relations practices.

Human resource departments are involved with efforts to improve

productivity through changes in employee relations. QWL means

having good supervision, good working conditions, good pay and

benefits and an interesting, challenging and rewarding job. High

QWL is sought through an employee relations philosophy that

encourages the use of QWL efforts, which are systematic attempts by

an organization to give workers greater opportunities to affect their

jobs and their contributions to the organization’s overall

effectiveness. That is, a proactive human resource department finds

ways to empower employees so that they draw on their “brains and

wits,” usually by getting the employees more involved in the

decision-making process.

A Rationale

Job specialization and simplification were popular in the early

part of this century. Employees were assigned narrow jobs and

supported by a rigid hierarchy in the expectation that efficiency

would improve. The idea was to lower cost by using unskilled

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workers who could be easily trained to do a small, repetitive part of

each job.

Many difficulties developed from that classical job design, however.

There was excessive division of labor. Workers became socially

isolated from their co-workers because their highly specialized jobs

weakened their community of interest in the whole product. De-

skilled workers lost pride in their work and became bored with their

jobs. Higher-order (social and growth) needs were left unsatisfied.

The result was higher turnover and absenteeism, declines in quality

and alienated workers. Conflict often arose as workers sought to

improve their conditions and organizations failed to respond

appropriately. The real cause was that in many instances the job itself

simply was not satisfying.

Humanized Work through QWL

One option was to re-design jobs to have the attributes desired

by people, and re-design organizations to have the environment

desired by the people. This approach seeks to improve QWL. There

is a need to give workers more of a challenge, more of a whole task,

more opportunity to use their ideas. Close attention to QWL provides

a more humanized work environment. It attempts to serve the higher-

order needs of workers as well as their more basic needs. It seeks to

employ the higher skills of workers and to provide an environment

that encourages them to improve their skills. The idea is that human

resources should be developed and not simply used. Further, the

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work should not have excessively negative conditions. It should not

put workers under undue stress. It should not damage or degrade

their humanness. It should not be threatening or unduly dangerous.

Finally, it should contribute to, or at least leave unimpaired, workers’

abilities to perform in other life roles, such as citizen, spouse and

parent. That is, work should contribute to general social

advancement.

Q - Quest for excellence

U - Understanding

A - Action

L - Leadership

I - Involvement of the people

T - Team spirit

Y - Yardstick to measure progress

The above said are very essential things to improve the work life of

employees in the organization.

SIGNIFICANCE OF THE STUDY

Quality of work life covers various aspects under the general

umbrella of supportive organizational behaviour. Thus, the QWL

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should be broad in its scope. It must be evaluate the attitude of the

employees towards the personnel policies. The research will be

helpful in understanding the current position of the respective

company. And provide some strategies to extent the employee’s

satisfaction with little modification which is based on the internal

facilities of the company.

This research can be further used to evaluate the facilities

provided by the management towards the employees. This study also

helps in manipulating the basic exception of the employees.

OBJECTIVES OF THE STUDY:

To study the quality of work life of (QWL) employees in

RELIGARE ENTERPRISES LIMITED

To find out how quality of work life leads to high satisfaction

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To know the existing working conditions, Industrial Health

and safety help to improve the quality of work life.

To study the workers participation in RELIGARE

ENTERPRISES LIMITED

To examine how the training and development programmers

helps to improve the quality of work life.

To know how the various welfare activities and other benefits

helps to bring a better quality of work life.

LIMITATIONS OF THE STUDY

Converting qualitative data into quantitative data may often

lead to inaccurate results.

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The respondents may not have expressed them strong negative

feelings about the policies, which results in the error of central

tendency.

Few respondents were reluctant while answering the

questions.

The Human Resource Department’s Role

The role of human resource department in QWL efforts varies

widely. In some organizations, top management appoints an

executive to ensure that QWL and productivity efforts occur

throughout the organization. In most cases, these executives have a

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small staff and must rely on the human resource department for help

with employee training, communications, attitude survey feedback,

and similar assistance. In other organizations, the department is

responsible for initiating and directing the firm’s QWL and

productivity efforts.

Perhaps the most crucial role of the department is winning the

support of key managers. Management support – particularly top

management support appears to be an almost universal prerequisite

for successful QWL programs. By substantiating employee

satisfaction and bottom-line benefits, which range from lower

absenteeism and turnover to higher productivity and fewer accidents,

the department can help convince doubting managers. Sometimes

documentation of QWL can result from studies of performance

before and after a QWL effort. Without documentation of these

results, top management might not have continued its strong support.

The department also has both a direct and indirect influence on

employee motivation and satisfaction, the department makes direct

contact with employees and supervisors through orientation, training

and development, career planning, and counseling activities. At the

same time, these activities may help a supervisor do a better job of

motivating employees.

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The policies and practices of the department also influence

motivation and satisfaction indirectly. Rigorous enforced safety and

health programs, for example, can give employees and supervisors a

greater sense of safety from accidents and industrial health hazards.

Likewise, compensation policies may motivate and satisfy

employees through incentive plans, or they may harm motivation and

satisfaction through insufficient raises or outright salary freezes. The

motivation and satisfaction of employees act as feedback on the

organization’s QWL and on the department’s day-to-day activities.

Motivation

Motivation is a complex subject. It involves the unique

feelings, thoughts and past experiences of each of us as we share a

variety of relationships within and outside organizations. To expect a

single motivational approach work in every situation is probably

unrealistic. In fact, even theorists and researches take different points

of view about motivation. Nevertheless, motivation can be defined as

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a person’s drive to take an action because that person wants to do so.

People act because they feel that they have to. However, if they are

motivated they make the positive choice to act for a purpose –

because, for example, it may satisfy some of their needs.

Job Satisfaction

Job satisfaction is the favorableness or unfavorableness with

which employees view their work. As with motivation, it is affected

by the environment. Job satisfaction is impacted by job design. Jobs

that are rich in positive behavioral elements – such as autonomy,

variety, task identity, task significance and feedback contribute to

employee’s satisfaction. Likewise, orientation is important because

the employee’s acceptance by the work group contributes to

satisfaction. In sort, each element of the environmental system, can

add to, or detract from, job satisfaction.

Rewards Satisfaction and Performance

A basic issue is whether satisfaction leads to better performance, or

whether better performance leads to satisfaction. Which comes first?

The reason for this apparent uncertainty about the relationship

between performance and satisfaction is that rewards intervene as

shown in the figure below.

A Reward Performance Model of Motivation

Rewards

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Reinforcement

Performance Satisfaction

Motivation Self-image

Inner drives Self-esteem

Self-expectation

Needs and Desire

Whether satisfaction is going to be improved depends on

whether the rewards match the expectations, needs and desires of the

employee as shown at the bottom of the above figure. If better

performance leads to higher rewards and if these rewards are seen as

fair and equitable, then results in improved satisfaction. On the other

hand, inadequate rewards can lead to dissatisfaction. In either case,

satisfaction becomes feedback that affects one’s self-image and

motivation to perform. The total performance-satisfaction

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Employee

Job itself Small groups Organization External

environment

QWL

relationship is a continuous system, making it difficult to assess the

impact of satisfaction on motivation or on performance, and vice-

versa.

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CHAPTER – II

REVIEW OF LITERATURE

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REVIEW OF LITERATURE

THEORETICAL REVIEW

DEFINITION

Quality of work life means “the degree top which members of

a work organization are able to satisfy important personal needs

through their experience in the organization”

QWL could be defined as “the Quality of the relationship between

the man and task.

MEANING

Quality of work life has gained deserved prominence in the

Organizational Behaviour as an indicator of the overall of human

experience in the work place. It expresses a special way of thinking

about people their work and the organizational in which careers are

fulfilled.

QWL refers to the relationship between a worker and his

environment, adding the human dimension to the technical and

economic dimensions within which the work is normally viewed and

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designed. QWL focus on the problem of creating a human working

environment where employees work co – operatively and achieve

results collectively.

QWL also includes.

The programme seeks to promote human dignity and growth

Employees work collaboratively They determine work

change participate

The programmes assume compatibility of people and

organization

QWL refers to the level of satisfaction, motivation,

involvement and commitment individuals experience with respect to

their line at work. QWL is the degree of excellence brought about

work and working conditions which contribute to the overall

satisfaction and performance primarily at the individual level but

finally at the organizational level.

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CONCEPT

QWL is a prescriptive concept, it attempts to design work

environments so as to maximize concern for human welfare. QWL

acts in two dimensions.

Goal

Process

QWL acts as goal by

Creation of more involving

satisfying and effective jobs

Work environment for people at all levels of the organization

QWL acts as process by

Make efforts to realize this goal through active participation.

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The whole essence of QWL may be stated thus, the QWL is co –

operative rather than authoritarian; evolutionary and open rather

static and rigid; informal rather than mechanistic; mutual respect and

trust than hatred against each other.

Objectives of QWL

The major two main objectives for the QWL are

Improve employees satisfaction strengthen workplace learning

Better manage on – going chance and transition

MAJOR FACTORS AFFECTING THE QWL

QWL means having good supervision, good working

conditions, good pay and benefits an interesting and challenging, and

a rewarding job. The major factors that affect the QWL may be

stated thus.

Pay

QWL is basically built around the concept of equitable pay. In

the days ahead, employees may want to participate in the profits of

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the firm as will. Employees must be paid their due share in the

progress and prosperity of the firm.

Benefits

Workers throughout the globe have raises their expectations

over the years and now feel entitled to benefits that were once

considered a part of the bargaining process.

Job Security

Employees want stability of employment. They do not like to

be the victims of whimsical personal policies and stay at the mercy

of employers.

Alternative Work Schedules

Employees demand more freedom at the workplace, especially

in scheduling their work. Among the alternative work schedules

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capable of enhancing the quality of work life for some employees

are:

i. Flexi time: A system of flexible working hours,

ii. Staggered hours: Here groups of employees begin and end

work at different intervals.

iii. Compressed workweek: It involves more hours of work per

day for fever days, per week.

iv. Job enrichment: It attempts to increase a person's level of

output by providing that persons with exciting, interesting,

stimulating or challenging work.

v. Autonomous work groups (AWGs): Here a group of workers

will be given some control of decision-making and have

responsibility for a task area without day-to-day supervision,

and with authority to influence and control both group

members and their behaviour.

Occupational Stress

Occupational mental-health programmes dealing with stress

are beginning to emerge as a new and important aspect of QWL

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programmes. Obviously, and individual suffering from an

uncomfortable amount of job-related stress cannot enjoy a high

quality of work life.

Worker Participation

Employees have a genuine hunger for participation in

organizational issues affecting their lives. Naturally they demand far

more participation in the decision making process at the workplace.

Social Integration

The work environment should provide opportunities for

preserving an employee's personal identify and self-esteem through

freedom from prejudice, a sense of community, interpersonal

openness and the absence of stratification in the organization.

Work and total life space

A person's work should not overbalance his life. Ideally

speaking, work schedules, career demands and other job

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requirements should not take up too much of a person's leisure time

and family life.

WAY TO CREATE HIGH QWL

QWL deals with the relationship between every employee and

his or her work organization. This relationship is formal in

sometimes less formal. This contract is psychological; contract.

"Psychological contract is the set of expectations held be the

individual specifying what the individual and the organization expect

to give and receive from each other in the course of their working

relationship". This contract represents the expected exchange of

values that encourages the individual to work for the organization

and motivates the organization to employ that person, (i.e.)

Contribution and Inducements.

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A healthy psychological contract means that inducements and

contributions are balance.

INDUCEMENTS = CONTRIBUTIONS

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(Organization to employees) = (employee to organization)

This is the way for organization to create healthy psychological

contract and Jobs satisfaction for their members is to provide them

with High QWL environment.

ASPECTS OF HIGH QWL

QWL are highlighted by the following Benchmarks of

managerial excellence.

Participation: - Involving people from all levels of responsibility

in decision-making

Trust: - Reside signing jobs systems and structures to give

people more freedom at work.

Reinforcement: - Creating reward systems that are fair, relevant and

contingent on work performance

Responsiveness: - Making the work setting more pleasant and able to

serve individual Needs.

QWL PROGRAMMES

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QWL programmes concentrate on creating a working

environment that is Conductive to the satisfaction of worker needs.

This program assumes that a job and the work environment should

be structured to meet as many of the workers needs as possible.

These programmes are helped to avoid some pitfalls like

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QWL program must be implemented with the co-operation of

management and labor.

Action plans must be carried to completion.

Care must be taken to concentrate the focus on the joint

objectives of improving the QWL.

RESULTS OF HIGH QWL

High Productivity

Increase organizational effectiveness

High employee satisfaction

High morale.

Reduce the absenteeism and labor turn over

Increase the quality of life of employees

High employee involvement

Peaceful industrial relation

RESEARCH REVIEW

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Miller, 1978; Kirkman, 1981; Metz, 1982; Mirvis &

Lawler, 1984; Cooper, 1988) define the qualities of work life are

broadly similar to the study on Singaporean Employees Development

suggest four dimensions of Quality of work life labelled as

i) Favourable work environment

ii) Personal growth and autonomy

iii) Nature of job and

iv) Stimulating opportunities and co-workers

Good performance is recognized in addition to rewards being based

upon performance while employees are respected and treated like

mature people.

The Study on Singaporean Employees development, Cheng S

says in a high QWL there should be a positive impact on personal

life, an opportunity to be involved in decision as well as an

acceptable level of physical comfort. Jobs seen to exist within high

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QWL work situations are those in which there is minimal negative

impact on one’s personal life, and hopefully one which has a positive

impact on one’s personal life.

We would expect that these dimensions comprising QWL that were

found in the present sample are consistent with the rapid economic

growth and increasingly higher levels of educational standards in

Singapore. Research studies (Taylor, 1977; Taylor, 1978; Donald,

1997) have generally established that QWL is positively associated

with job satisfaction and can be a significant motivator. One

implication of this finding for management is the need to consider

the type of intrinsic and extrinsic factors highlighted by the four

aspects of QWL that comprise the motivational reward-incentive

system used in organizations. Designing the job and the work

environment so as to include the characteristics of the QWL

dimensions discussed above will contribute to the worker’s sense of

well-being, and provide a more positive start to other work

motivation programmes within the organization. Kirkman (1989)

suggests that in the future work society; the drive for more

humanitarian treatment both in and out of work will increase.

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Cheng S in his paper QWL through employee participation in

Singapore has discussed the following four different approaches to

QWL Employee share option scheme, Joint management

consultation, Quality circle and Industrial relations circle.

This is an interesting situation given the high degree of emphasis on

achieving high standards in performance and quality known in

Singapore.

QWL has also been viewed in a variety of ways including a) as

a movement b) as a set of organizational interventions and c) as a

type of working life felt by employees QWL, Self-evaluation and life

satisfaction among American Africans.

When for many people sex and relationships are troublesome--since

they are often hazardous to our health--work plays an even greater

role in keeping us "out of trouble." Regardless of how much we earn,

most of us have some kind of agenda or work plan. And with so

many people opening a home and a cyber-office, with mounting

levels of technology-related stress (which Bruria Ginton, owner

turned content-provider, calls frustression), many of us end up

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involved in more than one job, which we feel compelled to get done,

spending the greatest portion of our lives in what we consider our

workplace. So Quality of Work Life (QWL) is not some notion of

frivolous luxury. QWL is just as real and useful as virtual reality

itself.

APPROPRIATENESS OF THE SURVEY METHOD

The objective of study was to ascertain the quality of work life

of the employees in specific work environment relationship. For this

best suited method was survey method.

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Hence a questionnaire method is chosen which is free from bias of

the interviewer and large sample can be made use of and thus the

result can be more dependable and reliable

SAMPLING PROCEDURE

Sampling is a method of selecting a few items from a

particular group to be obtaining relevant data which help in drawing

conclusions regarding the entire group i.e. population or universe.

SAMPLING SIZE:

The sample size selected for the study was 100 employees of

“RELIGARE ENTERPRISES LIMITED”.

CONSTRUCTION OF THE TOOL:

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To measure the effectiveness of QWL. Questionnaire method is

used.

The questionnaire consists of two sections.

Section 1: collect the personal details about respondents.

Section 2: consists of 20 Questions which deal with QWL.

In this study, structured questionnaire means “a set of questions

(statements) which is administered to the respondents. To assess their

attributes opinion, information which is needed for the project.

ANALYSIS AND INTERPRETATION

The data collected are classified, analysed and calculated.

The statistical tools are applied for the analysis of the data. The tools

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used are Percentage analysis, weighted average method and Chi –

square test.

1. Percentage analysis:

Percentage refers is a special kind of ratio. Percentages are used in

making comparison between two or more series of data. They are

used to describe relationship. More over percentages can also be use

to compare the relative terms of the distribution of two or more series

of data.

Formula:

Percentage of Respondents = No. of respondents *100

Total no. of respondents

2. Weighted Average Method:

Weighted Average Method was applied to find out the desirable

policies & practices that are adopted by the company by ranking

certain criteria's in some of the important functional areas of H.R.

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Weighted average method = (X1W1 + X2W2 + X3W3 +……..)

n

3. Chi - square test:

Chi - Square is a non-parametric technique, most commonly used fay

a research to test the analysis. The main objective of chi-square is to

determine whether significant difference exist among group of data

Formula:

Chi - Square test = (Oi - Ei) 2/ Ei

Oi = Observed frequency

Ei = Expected frequency

Degree of freedom = n – 1.

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CHAPTER - III

COMPANY PROFILE

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COMPANY PROFILE

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

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

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Religare Enterprises Limited

Religare AMC Limited Asset Management BusinessPortfolio Management

AEGON Religare Life Insurance Co. Ltd. Life Insurance Company, JV with Aegon(26%), Religare(44%), and Bennett & Coleman(30%)

Religare Macquarie Wealth Mgmt. Ltd. JV with Macquarie for Wealth Management Business

Religare Securities Limited Retail Equity BrokingOnline Investment PortalDepository Services

Religare Commodities Limited Commodity Broking Business

Religare Capital Markets Limited PE and M&A Advisory

Religare Finvest Limited Lending and Distribution business

Religare Insurance Broking Limited Life Insurance Broking BusinessNon-Life Insurance Broking Business

Religare Arts Initiative Limited Business of ArtArt GalleryArt Advisory

Religare Venture Capital Limited Private Equity and Investment Manager

Vistaar Religare Capital Advisors Ltd. JV with Vistaar Entertainment Ventures for film fund

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Institutional BrokingInvestment Banking

India's first ever film fund

Religare - Milestone JV with Milestone Capital to manage a healthcare and education fund

Religare Finance Ltd. Capital Market Financing

Name

Religare is a Latin word that translates as 'to bind together'. This name has been chosen to reflect the integrated nature of the financial services the company offers.

Symbol

The Religare name is paired with the symbol of a four-leaf clover. Traditionally, it is considered good fortune to find a four-leaf clover as there is only one four-leaf clover for every 10,000 three-leaf clovers found.

For us, each leaf of the clover has a special meaning. It is a symbol of Hope. Trust. Care. Good Fortune.

For the world, it is the symbol of Religare.

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The first leaf of the clover represents Hope. The aspirations to succeed. The dream of becoming. Of new possibilities. It is the beginning of every step and the foundation on which a person reaches for the stars.

The second leaf of the clover represents Trust. The ability to place one’s own faith in another. To have a relationship as partners in a team. To accomplish a given goal with the balance that brings satisfaction to all, not in the binding, but in the bond that is built.

The third leaf of the clover represents Care. The secret ingredient that is the cement in every relationship. The truth of feeling that underlines sincerity and the triumph of diligence in every aspect. From it springs true warmth of service and the ability to adapt to evolving environments with consideration to all.

The fourth and final leaf of the clover represents Good Fortune. Signifying that rare ability to meld opportunity and planning with circumstance to generate those often looked for remunerative moments of success.

Hope. Trust. Care. Good Fortune. All elements perfectly combine in the emblematic and rare, four-leaf clover to visually symbolize the values that bind together and form the core of the Religare vision.

Accent usage

The diacritical tilde mark ( ˜ ) over the letter A in the Religare typeface indicates a palatal emphasis sound of the letter A.

Pronunciation

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rel•i•ga•re (rel'i-gâir)

Central Leadership Team

Mr. Sunil GodhwaniChairman and Managing Director,Religare Enterprises Limited

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

Mr. Shachindra Nath Group CEO, Religare Enterprises Limited

Mr. Anil Saxena Group CFO, Religare Enterprises Limited

Board of Directors - Religare Enterprises Limited

Mr. Sunil Godhwani Chairman and Managing Director

Mr Shachindra Nath Group CEO

Mr. Anil Saxena Group CFO

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CEO's

Mr. Anuj GulatiChief Executive Officer Religare Health Insurance Co. Ltd.

Mr. Anuj Gulati Chief Executive Officer Religare Health Insurance Co. Ltd.

Mr. Basab Mitra Chief Strategy OfficerReligare Enterprises Limited

Mr. Kamlesh Dangi Chief People Officer Religare Enterprises Limited

Presidents/Managing Directors

Mr. Amit Sarup President –Religare Art & Family OfficeReligare Enterprises Limited

Mr. Amit Sarup President –Religare Art & Family Office Religare Enterprises Limited

Mr. Chandan Kumar Sinha President - Insurance Projects Religare Enterprises Limited

Mr. Pervez Bajan President & Financial ControllerReligare Enterprises Limited

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Mr. Russell A. Stamets President and General CounselReligare Enterprises Limited

Mr. Sandeep Adukia President – Capital Markets FinanceReligare Finance Limited

Mr. Suhas Harinarayanan Managing Director & Co Head ResearchReligare Capital Markets Ltd.

Mr. Sunil Kumar Garg President, Treasury & Group FinanceReligare Enterprises Limited

Directors

Mr. G. Nagaraj Director & Chief Technology OfficerReligare Enterprises Limited\

Mr. Kedar V. Wilankar Director - Human ResourcesReligare Enterprises Limited

Mr. Mukesh Panika Director - Arts Initiative Religare Enterprises Limited

Mr. Rajesh Doshi Director – Compliance and SecretarialReligare Enterprises Limited

Mr. Rajesh Sharma Director - Internal AuditReligare Enterprises Limited

Ms. Rashmi Mohanty Director – Treasury OperationsReligare Enterprises Limited

Mr. Subhrangshu Neogi Director - Brand & Corporate Communications Religare Enterprises Limited

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We operate across multiple locations & countries.

Business Profile

Religare Enterprises, a Ranbaxy promoter group company, is the

holding company for integrated financial services. The company was

incorporated as a private limited company on Jan. 30, 1984 and the

status changed to a public limited company on Aug11, 2006.

The company is the holding company for all businesses,

structured and being operated through various subsidiaries. It offers a

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wide range of financial products and services across the three key

business verticals of retail, wealth management and the institutional

spectrum. Retail services include equity and commodities brokerage,

personal financial services (including insurance brokerage and

mutual fund distribution), LAS, personal loans, and internet trading.

Wealth services include PMS, wealth advisory services and private

client equity services (including international equity services). The

Institutional services include institutional distribution services,

investment banking and transaction advisory services.

The subsidiaries of the company include Religare

Securities, Religare Finevest, Religare Commodities, Religare

Insurance Broking. Religare Venture Capital, Religare Realty,

Religare Insurance Holding Company, Religare Finance, Religare

Capital Markets and Religare Wealth Management Services. The

company has a 50:50 joint venture with Australia`s Macquarie Bank

for expanding its wealth management business in India.

The company`s retail network is spread across more than

1,217 locations in more than 392 cities and towns. It operates from

six regional offices and 25 sub-regional offices with business

associates all over India and a representative office in London. The

company is a member of the National Stock Exchange of India,

Bombay Stock Exchange of India, depository participant with

National Securities Depository and Central Depository Services

India, and SEBI approved portfolio manager. The registered and

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corporate office of the company is located at 19, Nehru Place,

NewDelhi-110019.

Financials

The Company swung to loss for the quarter ended December

2008. During the quarter, the company reported loss of Rs 38.42

million compared with a profit of Rs 22.36 million in the same

quarter last year. Net sales declined 48.59% to Rs 26.69 million,

while total income for the quarter rose 22.70% to Rs 63.86 million,

when compared with the prior year period. It reported loss of Rs 0.50

a share as compared to profit of Rs 0.31 a share over the prior year

period.

Recent Developments

11-JUN-09

The company and Andhra Bank entered into a strategic tie-up

offering Religare`s internet trading services platform to the bank`s

customers.

26-MAR-09

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The company`s 100% subsidiary, Religare Finevest (RFL) has

deployed Nucleus Software Exports` Finn One suite to power its

credit valuation, loan disbursal and collection processes across India.

23-JAN-09

Religare Macquarie, a joint venture (JV) between the company and

Australia based Macquarie Group announced the launch of their

wealth advisory services.

14-JAN-09

AEGON Religare Life Insurance, the insurance arm of the company

announced the launch of AEGON Religare Pension Plan. The plan

provides policy-holders with a regular pension post-retirement that

will help them take care of their regular expenses.

17-DEC-08

The company has announced that following the acquisition of 100%

share holding in Lotus India Asset Management by Religare

Securities, a wholly owned subsidiary of the company, Lotus has

become a step down subsidiary of the company.

04-DEC-08

The company after receiving approval from market regulator, SEBI

for restructuring its asset management company (AMC) business and

also receiving the nod for acquiring and rechristening Lotus AMC

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has decided in principle to appoint Saurabh Nanavati as CEO for its

AMC business. Ajay Bagga, the incumbent CEO of Lotus India

AMC has decided to step down and will pursue other career

opportunities.

26-NOV-08

The Company has wholly owned subsidiary, Religare Securities

(RSL), has received clearance from SEBI to acquire the entire

shareholding of Lotus India Asset Management Company (Lotus

India AMC)from its share holders.

24-NOV-08

The company and AEGON will restructure their asset management

in order to take advantage of new business opportunities that have

arisen in the Asia Pacific region and the desire of each partner to

meet their strategic goals in the asset management area in the region.

Future Plans

The company will use funds raised through the initial public offering

IPO to expand domestic operations and network of branches, fund

retail finance business, and expand financing activity.

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Registered Office Registrar & Share Transfer Agent

25, Nehru Place, New Delhi,

Delhi - 110019

Tel: 011-30815100, , ,

Fax: 011-66210195,

Karvy Computershare Private Ltd

Cyber Villa, Plot No.17-24,

Vittalrao Nagar, Hyderabad -

500081, Andhra Pradesh.

Tel :23420815-820

Fax : 23431551

Key Officials

Name Designation

Sanjay V Padode Managing Director

Rahul Ranjan Asst. VP & Company Secretary

Other Details

Listings Incorporation Public Issue Date

BSE 29/09/1994 17/04/1995

Recent News And Analysis

Date Headlines

21/06/2010 Religare Tech Glob - Disclosures under Reg.13(4) of

SEBI (Prohibition of Insider Trading) Regulations,

1992

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1992



1992



1992

27/05/2010 Religare Tech Glob - Limited Review for the quarter

ended March 31, 2010

LIFE INSURANCE

AEGON RELIGARE

Religare in partnership with Aegon, one of the world's largest life

insurance and pension groups, operates its Life Insurance business in

India under a Joint venture, Aegon Religare Life Insurance Company

Limited.

This venture is dedicated to build a firm future, both

for customers and employees and will continue to balance a local

approach with the power of an expanding global operation.

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AEGON Religare Life Insurance launched its pan-

India multi-channel operations in July, 2008 with over 30 branches

spread across India. The business philosophy is to help people plan

their life better and also provide high quality advice to customers and

offer a superlative overall service experience.

True to its stance of being "Refreshingly Different",

powered by innovation, and bringing industry "firsts", AEGON

Religare Life Insurance offers policy servicing on the phone via

Interactive Voice Response System (IVR) by issuing the customer a

T-Pin for authentication. It is also the first company to include the

customer's medical report in the policy kit.

ASSET MANAGEMENT

Religare Asset Management Company Limited is a

wholly owned subsidiary of Religare Securities Limited (RSL),

which in turn is a 100% subsidiary of Religare Enterprises Limited.

It operates out of 60* locations across 57 cities in India. As on 31st

May 2010, the AMC has an Average AUM of over INR 154 bn with

over 230,000 investor folios.

INSURANCE SOLUTIONS

Religare with one of the largest retail networks in

the country offers a complete range of insurance solutions though its

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100% subsidiary company, Religare Insurance Broking Limited

(RIBL). The company holds a composite broker's license operating

in the Life, General and Reinsurance domains.

An insurance portfolio is designed from a choice of

more than 3000 life and general insurance products & plans from

more than 30 companies. This one easy window for any brand of

insurance, any kind of cover, offers tailor made insurance solutions

with not just the right kind of cover but also the right mix of cover.

Offerings include:

Life Insurance

o Pure Insurance Solutions

o Investment Linked Plans

o Guaranteed Saving Plans

General Insurance

o Motor Insurance

o Health Insurance Program

o Travel Protection Schemes

o Package Policies for SMEs

LOANS

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Structurally all business are operated through various

subsidiaries held through the holding company Religare Enterprises

Limited. One such wholly owned subsidiary of REL is Religare

Finvest Limited registered with the Reserve Bank of India as a Non-

Banking Finance Company (NBFC) and is a Member of CDSL.

Religare Finvest Limited offers loans for all your needs.

SME loans -

As businesses grow, so do their needs. Whether it is for new

equipment or inventory acquisition, new marketing efforts or pure

working capital needs, SME Loans from Religare Consumer Finance

can provide the money your company needs to thrive.

Commercial Vehicle Loans -

Transportation is an essential part of any business and

its growth, hence now with Religare Consumer Finance you can

avail Commercial Vehicle loans for both new and used three-

wheeler, multi utility vehicle, light and heavy commercial vehicles

and high end cranes which includes LCV's, Tractor Trailers, Buses

etc.

Construction Equipment finance -

India is growing at a fast pace, to develop it's

infrastructure with the same pace Religare Consumer Finance offers

loans for purchase of new and used Construction Equipments and all

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earth moving machinery which includes JCB, Excavators,

Backhoe/wheel Loaders etc.

Loan Against Property -

You may be a Manufacturer, a Wholesaler, a Retailer, or

an Exporter / Importer or a Self Employed Professional; Religare

Consumer Finance offers the best and hassle free way to en-cash the

value of your Residential or Commercial property to finance your

personal or business requirements.

The Religare Edge

Tailor made solutions to meet your requirement

Quick & hassle free services

Easy documentation

Competitive rates of Interest

Insurance Advisory

Religare Insurance Broking Limited (RIBL), a Religare

Enterprises Limited venture is one of India's leading insurance

broking firms, with one of the largest retail networks in the country.

The company holds a composite broker's license operating in the

Life, General and Reinsurance domains.

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CHAPTER – IV

DATA ANALYSIS

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& INTERPRETATION

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ANALYSIS AND INTERPRETATION

Table No: 1

Age of respondents

Age No. of respondents Percentage

20 – 30 30 30.0

31 – 45 45 45.0

46 & above

25 25.0

Total 100 100.0

INFERENCE:

The above table shows that majority of 45% of the respondents

belongs to the age group of 31 to 45 and 30% of the respondents lies

between 20 to 30 age group. 25% of the respondents fall from the

age group of 46 and above. The study reveals that all the

respondents all age group level are well capable of assessing the

quality of their work life.

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Table No. 2

Experience of the respondents

Experience No. of Respondents Percentage

Below 1 year - -

1 – 5 years 19 19

5 – 10 years 24 24

Above 10 years 57 57

Total 100 100

INFERENCE:

The above table shows that majority of 57% of the respondents are

with an experience of more than 10 years and 24% are 5 to 10 years

of experience. 19% of the respondents are with 1-5 years

experience. No respondent is less experienced. The study reveals

that all the respondents are well experienced, so they are well

capable of assessing the quality of their work life.

Table No – 3

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Income level of the respondents

Income Level No. of Respondents Percentage

Below Rs. 5,000 - -

Rs. 5,000 – Rs.10,000

38 38

Rs. 10,000 – Rs.20,000

59 59

Above Rs. 20,000 3 3

Total 100 100

INFERENCE:

The above the table shows that as much as 82 per cent of the

respondents are in the higher income group of more than Rs. 10,000

income per month. Hence it can be inferred that monetary benefits

are not a constraint to assess the quality of work life, in the study

unit.

Table No – 4

Using skills and abilities to perform the job

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Opinion No. of Respondents Percentage

Strongly Agree 46 46

Agree 51 51

Disagree 2 2

Strongly Disagree 1 1

Total 100 100

INFERENCE:

The above the table states that as much as 97% of workers in the

study unit were of the opinion that their job enables them to use their

skills and abilities in full. Only 3% of them disagreed to this point.

Hence it can be inferred that the work in the study unit is such that

which allows almost all the workers to use their skill and ability in

full.

Table No – 5

Equal treatment at work place

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Agree 57 57

Disagree - -

Strongly Disagree - -

Total 100 100

INFERENCE:

The above the table shows that no harm is done to the self-

respect of the workers in the study unit. 43% of the respondents

strongly agreed to the statement and 57% of the respondents also

opinioned that the workers are treated equally with respect at their

work places. Thus it can be concluded that the organization provides

equal treatment at work place.

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Table No – 6

Conditions on my job allows me to be productive



Agree 51 51

Disagree 2 2


Total 100 100

INFERENCE:

From the above table it can be understood that almost 97% all the

workers in the study unit either agree or even strongly agree that the

conditions on their job allow them to be productive. Only 3% of

them were of negative opinion. Thus, it is clear that the conditions

on job are congenial to raise the productivity of the workers which is

very essential for both the management and workers to achieve their

objectives of higher productivity.

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Table No – 7

Opportunity to develop special abilities



Agree 63 63

Disagree 12 12


Total 100 100

INFERENCE:

The above table states that 25% of the workers strongly agree to the

point that there are adequate opportunities to develop their own

special abilities in the work place. 63% of the respondents agree to

it only to some extent. Only 12% of the workers find no such

opportunities in the study unit. Hence, it can be inferred that the

opportunities available in the workplaces to develop the special

abilities of the workers is satisfactory. No doubt in the improvement

of special abilities would definitely improve the quality of work life

in the study unit.

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Table No – 8

Organisations provides enough guidance to get the job done



Agree 58 58

Disagree 17 17

Strongly Disgree 1 1

Total 100 100

INFERENCE:

The above table shows that 82% of the workers in the study unit are

satisfied with the guidance provided to them by the

superiors/managers to get the work done easily. 18% of the

respondents disagreed to accept it. Hence, it con be inferred that

guidance to work, which is essential for the quality work life which

is provide at the work place in the study unit.

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Table No – 9

Organization provides high quality tools and techniques to do

the job



Agree 32 32

Disagree 3 3


Total 100 100

INFERENCE:

As shown in the table, the opinion of the respondents as regard to the

positive factors of the high quality tools and techniques required to

perform the job. 65% of the respondents very strongly agree & with

the provisions made to utilize quality tools and techniques to perform

the job, and 32% of the respondents also agree with then statements,

are hand only 3 per cent of the respondents are refused to accept it.

Hence it can be concluded that there is positive attitude towards the

provisions of tools techniques.

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Table No – 10

Opportunities for promotion are good



Agree 52 52

Disagree 27 27


Total 100 100

INFERENCE:

As shown in the table, the opinion of the respondents as

regard to the chances for promotion is not appreciable compared to

other determinants of quality of work life. Only 72% of the

respondents has agreed that the chances for promotion are good in

the study unit where as, as much as 28% of the workers refused it.

Hence, it can be concluded that the chances for promotion are not

attractive among the workers even though majority of them agree to

it.

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Table No – 11

The safety of workers is at high priority


Yes 59 59

No 41 41

Total 100 100

INFERENCE:

As pointed out in the table, 59% of the respondents

opinioned that high priority was assumed to safety at work place and

other side of the coin reflects 41% of the respondents disagreed.

Hence, it can be concluded that the safety towards the employees

need to be concentrated highly to ensure safe and secured work life.

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Table No – 12

Infrastructure facilities are Good


Yes 90 90

No 10 10

Total 100 100

If “Yes” which of the following do you like


First aid 7 7

Canteen 27 27

Lightening and ventilation

56 56

Others 10 10

Total 100 100

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INFERENCE:

Above table shows that 56% of the respondents are satisfied

with lightening and ventilation facilities provided in the work place,

followed by 27% satisfied with canteen facilities and 7% of the

respondents opinioned on first aid facilities, 10% of the respondents

opinioned on others includes drinking water, rest rooms etc.

Table No – 13

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Fringe benefits are good in the organization



Agree 56 56

Disagree 15 15


Total 100 100

INFERENCE:

As shown in above table 34% of the workers accept that the

fringe benefits offered to them are good and enough to their

expectations. As much as 56% were of the opinion that the fringe

benefits are somewhat good, though not up to their expectations.

The remaining 16% were of the opinion that the fringe benefits

offered in the study unit are not at all up to their expectations. Hence

it can be concluded that the fringe benefits offered in the study unit,

in general, are not up to the expectation of the workers.

Table No - 14

The supervisor is concerned about the welfare of the workers

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Agree 45 45

Disagree 25 25


Total 100 100

INFERENCE:

As the above table states that the attitude of the supervisor

towards the welfare of the workers is positive for 70% of the workers

only. The remaining 30% were of the opinion that the attitude of

their supervisor was not in favour of their welfare. Thus the attitudes

of the supervisors are not satisfactory and it is a hurdle in the

assessment of the quality of work life in the study unit.

Table No – 15

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Job security



Agree 46 46

Disagree 1 1


Total 100 100

INFERENCE:

The above table shows that 53% of the workers strongly feel

that there is security for their job and only one worker feel that there

is no security for the job. Job security is the vital factor to access the

quality of the work life in any organization. Since the job security in

the study unit ensures that there are majority chances for good

performance and as a result the quality of work life is up to the

expectation.

Table No – 16

Helping tendencies of supervisor

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Strongly Agree 33 33.0

Agree 54 54

Disagree 11 11


Total 100 100

INFERENCE:

From the above table, it can be understood that the helping

tendency of the supervisor is not up to the expectations of the

respondents as only 33% of them strongly accept that the supervisors

are lending their helping hands always. 54% of the workers are the

view that the supervisor are helping at times are not always. The

remaining 13% are of the opinion that they are not at all helped by

their supervisor. The helping tendencies of the supervisors

determine the quality of work life in any organization, it is up to the

required expectations level of the workers in the study unit.

Table No – 17

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Training opportunities helped in terms of improving the quality

of work



Agree 54 54

Disagree 15 15


Total 100 100

INFERENCE:

The above the table states that only 30% of the workers

strongly accept that there are training opportunities in the study unit,

which helps them to perform their job safely and competently. 54%

of the workers accept to some extent that the training opportunities

are available and helpful. The remaining 17% were of the opinion

that they had no such opportunities. Training is very essential for

quality of work life in any organization.

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Table No – 18

Employees opinion about work stress


Always 29 29

Often 64 64

Sometimes 6 6

Never 1 1

Total 100 100

INFERENCE:

The above table shows that except only one worker of all

the 99 workers are of the opinion that their work is stressful one.

Among them, 29% of the workers opinioned that the stress is always

there in the work and a vast majority of 64% feels that they often

find their work stressful. Only 6% of the workers have stated that

their work is stressful sometimes and not always. Hence it can be

inferred that the work is stressful one, which if allowed uncontrolled

will spoil the quality of work in the study unit.

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Table No – 19

Employees opinion on work schedule


First Shift 65 65

Second Shift 4 4

Third Shift 0 0

General Shift 31 31

Total 100 100

INFERENCE:

From the table 69% of workers are satisfied with first shift,

31% of workers are satisfied with general shift and 4% of the

workers opinioned on second shift. Hence the majority of the

respondents accepts with their first shifts.

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Table No – 21- Accepting suggestions by the supervisors



Agree 51 51

Disagree 12 12


Total 100 100

INFERENCE:

Above the table 35% of the workers opinioned that their

supervisors are always accept their suggestions and get positive

motivations from them. 58% state that their supervisors accept their

suggestions sometimes and not always. The remaining 14% reveals

that their supervisors never lend their ears to their suggestions. So,

these workers were motivated negatively by their supervisors.

Though there is no need for the supervisors to accept all the

suggestions offered by the workers yet they shall not be motivational

exists in the study unit in the form of discarding the suggestions

made by the workers.

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Table No – 22

Proud to be a part of RELIGARE ENTERPRISES LIMITED.



Agree 18 18

Disagree 1 1


Total 100 100

INFERENCE:

The above table shows that except only one worker, all the

99% of the workers are of the opinion that they are very proud to

work in the study unit. Thus the image of the study unit in the minds

of the workers is very high, which is very essential for improving the

quality of work life in it.

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Chi - Square –Test – I

Table – 23

Opinion about promotions and the experience of the workers.

Experience Level

Strongly Agree

Agree DisagreeStrongly Disagree

Total

1 -5 years5

(3.8)

9

(9.9)

5

(5.1)

0

(0.2)

19

5 – 10 years

3

(4.8)

11

(12.5)

10

(6.5)

0

(0.2)24

>10 years12

(11.4)

32

(29.6)

12

(15.4)

1

(0.6)57

Total 20 52 27 1 100

HYPOTHESIS:

There is no significant relationship between the experience level of

workers and their opinion about promotions.

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

= (4 -1) (3 – 1)

= 3*2 = 6

Significance level of 6 at 5%

Calculated value [C.V] = 4.944

Table value [T.V] = 12.592

Conclusion:

Since the calculated value is less than the table value, the

null hypothesis is accepted. So it is proved that there is no

significant relationship between the experience level of workers and

their opinion about promotions

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Chi - Square –Test – II

Table – 24

Opinion about fringe benefits and income level of the workers.

Income Level

Strongly Agree

Agree

DisagreeStrongly Disagree

Total

5000-10000

8

(10.6)

22

(21.3)

8

(5.7)

0

(0.4)38

10000-20000

20

(16.5)

32

(33.0)

6

(8.9)

1

(0.6)59

>200000

(0.8)

2

(1.7)

1

(0.5)

0

(0.0)3

Total 28 56 15 1 100

HYPOTHESIS:

There is no significant relationship between the opinion of respondents

with different income level and their opinion on fringe benefits.

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

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= (4 -1) (3 – 1)

= 3*2 = 6




CONCLUSION:

Since the calculated value is less than the table value, the


significant relationship between the opinion of respondents with

different income levels and their opinion on fringe benefits.

Chi – Square Test – III

Table – 25

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Opinion about the opportunities provided in the organization to

develop the employees abilities and their equal treatment at work place.

Equal Treatment at work place.

Strongly Agree

Agree Disagree Total

Strongly Agree25

(10.8)

14

(27.1)

4

(5.2)43

Agree0

(14.2)

49

(35.9)

8

(6.8)57

Total 25 63 12 100

HYPOTHESIS:

There is no significant relationship between the equal treatment of

workers and their opportunities to develop their own abilities in the

organization.


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= (3 -1) (2 – 1)

= 2*1 = 2




CONCLUSION:

Since the calculated value is higher than the table value, the

null hypothesis is rejected. So it is proved that there is significant

relationship between the equal treatment of workers and their

opportunities to develop their own abilities in the organization.

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Chi – Square Test –IV

Table – 26

Opinion about the Employees Priority to Safety and Their

Acceptance of Suggestions by their Superiors.

Employees opinion prior

to safety

Strongly Agree

AgreeDisagre

eStrongly Disagree

Total

Yes16

(20.7)

33

(30.1)

8

(8)

2

(2)59

No19

(14.4)

18

(20.9)

4

(4.9)

0

(0.8)41

Total 35 51 12 2 100

HYPOTHESIS:

There is no significant relationship between the employee’s opinion on

priority to safety and their acceptance of suggestion by their superior.

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= (4 -1) (2 – 1)

= 3*1 = 3




CONCLUSION:

Since the calculated value is lesser than the table value, the


significant relationship between the employee’s opinion on priority

to safety and their acceptance of suggestion by their superior.

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Weighted Average Method:

Table – 27

Employee’s perception on motivational insights

InsightsRank (1-5)

Total5 4 3 2 1

Interest in work 28 26 26 14 6 100

Recognition 34 24 1 16 16 100

Award and Rewards

9 22 23 24 22 100

Compensation 10 12 20 17 41 100

Friendly Co-workers

19 16 21 29 15 100

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

a. Interest work = (28*5 + 26*4 + 26*3 + 14*2 + 6*1)/N

= (140 + 104 + 78 + 28 + 6)/100

= 356/100 = 3.56

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

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

= 344/100 = 3.44

c. Awards &Rewards = (9*5 + 22*4 + 23*3 + 24*2 + 22*1)/N

= (45 + 88 + 69 + 48 + 22)/100

= 272/100 = 2.72

d. Compensation = (10*5 + 12*4 + 20*3 + 17*2 + 14*1)/100

= (50 + 48 + 60 + 34 + 41)/100

= 233/100 = 2.33

e. Friendly Co-workers = (19*5 + 16*4 + 21*3 + 39*2 + 15*1)/100

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

= 295/100 = 2.95

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Rank Weighted Average Score

RankWeighted Average

Attributes

I 3.56 Interest in work

II 3.44 Recognition

III 2.95Friendly Co-workers

VI 2.72Awards and Rewards

V 2.33 Compensation

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INFERENCE:

From the table it is clear that among the motivational insights

factors interest in work ranks the top with 356 points resulting an

average of 3.56 followed by recognition with 344 points weighing an

average of 3.44. It reveals that both the management and the

workers are in mutual understanding as the interest in the work ranks

high and the recognition of the workers ability and skill by the

management is also at high level.

The motivational factors like awards and rewards,

compensation and friendliness with co-workers rank less than the

general average of 3. It envisages that the management needs

concentration on awarding rewards and in paying compensation

where as the workers shall develop friendliness with their co-workers

to make the work life a quality one.

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CHAPTER – V

FINDINGS, SUGGESTIONS

& CONCLUSIONS

FINDINGS FROM THE STUDY

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The following findings were observed:

From the table 1, it is inferred that majority of 45% of the

respondents belongs to the age group of 31 to 45 and 30%

of the respondents lies between 20 to 30 age group. 25% of

the respondents fall from the age group of 46 and above.

From the table 2, it is inferred that majority of 57% of the

respondents are with an experience of more than 10 years

and 24% are 5 to 10 years of experience. 19% of the

respondents are with 1-5 years experience. No respondent

is less experienced.

From the table 3, it is inferred that as much as 82 per cent of

the respondents are in the higher income group of more than

Rs. 10,000 income per month.

From the table 4, it is inferred that as much as 97% of

workers in the study unit were of the opinion that their job

enables them to use their skills and abilities in full. Only

3% of them disagreed to this point.

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From the table 5, shows that no harm is done to the self-

respect of the workers in the study unit. 43% of the

respondents strongly agreed to the statement and 57% of the

respondents also opinioned that the workers are treated

equally with respect at their work places.

From the table 6, it is inferred that almost 97% all the

workers in the study unit either agree or even strongly agree

that the conditions on their job allow them to be productive.

Only 3% of them were of negative opinion.

From the table 7, it is inferred that 25% of the workers

strongly agree to the point that there are adequate

opportunities to develop their own special abilities in the

work place. 63% of the respondents agree to it only to

some extent. Only 12% of the workers find no such

opportunities in the study unit.

From the table 8, it is inferred that 82% of the workers in

the study unit are satisfied with the guidance provided to

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them by the superiors/managers to get the work done easily.

18% of the respondents disagreed to accept it.

From the table 9, it is inferred that the opinion of the

respondents as regard to the positive factors of the high

quality tools and techniques required performing to do the

job. 65% of the respondents very strongly agree & with the

provisions made to utilize quality tools and techniques to

perform the job, and 32% of the respondents also agree with

the statements, and only 3% of the respondents are refused

to accept it.

From the table 10, it is inferred that the opinion of the

respondents as regard to the chances for promotion is not

appreciable compared to other determinants of quality of

work life. Only 72% of the respondents have agreed that the

chances for promotion are good in the study unit where as,

as much as 28% of the workers refused it.

From the table 11, it is inferred that 59% of the respondents

opinioned that high priority was assumed to safety at work

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place and other side of the coin reflects 41% of the

respondents disagreed.

From table 12, it is inferred that 56% of the respondents are

satisfied with lightening and ventilation facilities provided

in the work place, followed by 27% satisfied with canteen

facilities and 7% of the respondents opinioned on first aid

facilities, 10% of the respondents opinioned on others

includes drinking water, rest rooms etc.


accept that the fringe benefits offered to them are good and

enough to their expectations. As much as 56% were of the

opinion that the fringe benefits are somewhat good, though

not up to their expectations. The remaining 16% were of

the opinion that the fringe benefits offered in the study unit

are up to their expectations.

From the table 14, it is inferred that the attitude of the

supervisor towards the welfare of the workers is positive for

70% of the workers only. The remaining 30% were of the

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opinion that the attitude of their supervisor was not in

favour of their welfare.


strongly feel that there is security for their job and only one

worker feel that there is no security for the job.

From the table 16, it is inferred that the helping tendency of

the supervisor is not up to the expectations of the

respondents as only 33% of them strongly accept that the

supervisors are lending their helping hands always. 54% of

the workers are the view that the supervisor are helping at

times are not always. The remaining 13% are of the opinion

that they are not at all helped by their supervisor.

From the table 17, it is inferred that only 30% of the workers

strongly accept that there are training opportunities in the

study unit, which helps them to perform their job safely and

competently. 54% of the workers accept to some extent that

the training opportunities are available and helpful. The

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remaining 17% were of the opinion that they had no such

opportunities.

From the table 18, it is inferred that except only one worker

of all the 99 workers are of the opinion that their work is

stressful one. Among them, 29% of the workers opinioned

that the stress is always there in the work and a vast

majority of 64% feel that they often find their work

stressful. Only 6% of the workers have stated that their

work is stressful sometimes and not always.

From the table 19, it is inferred that 69% of workers are

satisfied with first shift, 31% of workers are satisfied with

general shift and 4% of the workers opinioned on second

shift.


opinioned that their supervisors are always accept their

suggestions and get positive motivations from them. 58%

state that their supervisors accept their suggestions

sometimes and not always. The remaining 14% reveals that

their supervisors never lend their ears to their suggestions.

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So, these workers were motivated negatively by their

supervisors.

From the table 21, it is inferred that shows that except only

one worker, all the 99% of the workers are of the opinion

that they are very proud to work in the study unit. Thus the

image of the study unit in the minds of the workers is very

high, which is very essential for improving the quality of

work life in it.

SUGGESTIONS AND RECOMMENDATIONS

The employees of RELIGARE ENTERPRISES LIMITED expecting

the following from the company.

i. Improvement in rewarding and awarding policies.

ii. Introduction of Promotion policy at operation level.

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Employees need high motivation from the top management of

the company.

Employees needs more compensation from the company

Employees expects mutual relationship between co-workers

Employee’s needs special training from the company related to

their job during working period.

Employees expects the quality of work to be measured

periodically be the company

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CONCLUSION

From the study, it is clear that quality of work life of

employees in RELIGARE ENTERPRISES LIMITED., is good. This

research highlights some of the small gaps in employee’s satisfaction

towards the company.

Compared to other companies believe in employee’s

satisfaction and brilliant productivity hours. Quality mission includes

not only the quality of the products but also the Quality of Work

Life.

RELIGARE ENTERPRISES LIMITED aims to promote the

peaceful industrial relations and good organization which is

highlighted by management and the employees.

Since employees are the backbone of the company. So

company should satisfy them in order to improve the business in the

higher competitive market of the liberalized economy.

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CHAPTER – VI

BIBLIOGRAPHY

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REFERENCES

BOOKS:

1. K. Aswathappa (1997), “Human Resources and Personal

Management” Tata Mcgraw-Hill Publishing Company

Limited, New Delhi – 110 001.

2. John M. Ivancevich (2003), “Human Resources and Personal

Management” Tata Mcgraw-Hill Publishing Company

Limited, New Delhi – 110 001.

3. C. R. Kothari (2001) “Research Methodology” of Wishwa

Prakashan Publishing, Chennai – 17, Edition

4. C. B. Mamoria and S. V. Gankar (2001), “Personnel

Management Text & Cases”, Himalaya Publishing house

Mumbai, XXI Edition.

5. R.S.N. Pillai and V. Bhagavathi (1998), “Statistics” of Sultan

Chand and sons, New Delhi, pp. 132-141, II Edition.

6. Biswaject pattanayak (2001), “Human Resources and Personal

Management” Prentice Hall of India Pvt., Ltd. New Delhi.

WEBSITES:

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www.google.com

www.religare.com

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http://www.religare.com/

http://www.google.com/

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