Interim Report Idbi Federal
Problem statement: To study workmen compensation in IDBI and determine the satisfaction level of employees.
Description of the Project: Reward system is a tool by which employee can attract, motivate, and retain employees. It involves everything the employee perceives to be of value resulting from the employment relationship successful. The reward system consists of many components out of which “Compensation” is one the most the important factor in employee satisfaction. Organization try to understand the type of compensation required for each of the employees and the one which has high impact on the system.
Research Objective:
Employee’s preference towards total rewards system depends on one’s perception and the motivation level he has achieved in life. Various theories have been incorporated to justify the preference. The theories are explained in Literature review. Based on the problem definition, we formulated our hypothesis.
* Objectives of the Project: To study the workmen compensation in IDBI
-Primary objectives: The main task of the project is to identify: * The various compensations offered to workmen in IDBI and policies used to evaluate various compensations. * The satisfaction level of employees with their compensation at IDBI.
-Secondary objectives: * Is there any preference given to compensation by employees at any level of choosing job. * How compensation help organization to retain and attract employees.
* Methodology: * Primary Data: the main data collection will be done by surveys on the present as well as past employees if possible. * Secondary Data: the secondary data will be as provided by the company guides through their records and manuals.
Hypothesis 1: Employees are satisfied by the timely compensation provided to them under various circumstances by the IDBI.
Hypothesis 2: Employees are not satisfied by the timely compensation provided to them under various circumstances by the IDBI.
Description of the Project: Reward system is a tool by which employee can attract, motivate, and retain employees. It involves everything the employee perceives to be of value resulting from the employment relationship successful. The reward system consists of many components out of which “Compensation” is one the most the important factor in employee satisfaction. Organization try to understand the type of compensation required for each of the employees and the one which has high impact on the system.
Research Objective:
Employee’s preference towards total rewards system depends on one’s perception and the motivation level he has achieved in life. Various theories have been incorporated to justify the preference. The theories are explained in Literature review. Based on the problem definition, we formulated our hypothesis.
* Objectives of the Project: To study the workmen compensation in IDBI
-Primary objectives: The main task of the project is to identify: * The various compensations offered to workmen in IDBI and policies used to evaluate various compensations. * The satisfaction level of employees with their compensation at IDBI.
-Secondary objectives: * Is there any preference given to compensation by employees at any level of choosing job. * How compensation help organization to retain and attract employees.
* Methodology: * Primary Data: the main data collection will be done by surveys on the present as well as past employees if possible. * Secondary Data: the secondary data will be as provided by the company guides through their records and manuals.
Hypothesis 1: Employees are satisfied by the timely compensation provided to them under various circumstances by the IDBI.
Hypothesis 2: Employees are not satisfied by the timely compensation provided to them under various circumstances by the IDBI.