Many companies and organizations feel that employee compensation is the dominating factor in the employee satisfaction. Consequently, employers attempt to ensure employee satisfaction with increased pay and benefits. In today’s competitive business environment this approach can only be taken so far. Fortunately, there is a much less expensive way to create greater employee satisfaction. It is virtually cost-free and it increases productivity which significantly improves the profit.
William M. Mercer, Inc. found in surveying 206 medium to large companies in 1998 that in organizations with high turnover, compensation was the most common reason given for dissatisfaction. However, in companies with very low turnover, 40% of the respondents perceived emotional factors such as work satisfaction, good relationships with managers and other employees as completely motivating their retention as compared to 21% attributing financial factors such as satisfaction with compensation and benefits as completely motivating their retention.
Note: compensation and benefits satisfy the lowest needs of Maslow’s Hierarchy, while the emotional factors satisfy the three upper needs of the Hierarchy.
Creating an environment in the workplace that results in employees feeling better about themselves when they are in it, than when they are not, results in increased responsibility towards their work. A work environment that constantly raises an employee’s self-esteem, above that she/he experiences anywhere else in their life, will be where she/he most desires to spend his/her time and yields very high employee satisfaction with the job and costs next to nothing.
Creating such a work environment is the responsibility of all corporate or organizational leadership, but most critically it is the primary job of the person the employee reports to directly.
Increasing job satisfaction for its humanitarian value and for its financial benefit (due to its effect on employee behavior).
As early as 1918, Edward Thorndike explored the relationship between work and satisfaction in the Journal of Applied Psychology.
Employees with higher job satisfaction:
? Believe that the organization will be satisfying in the long run
? Care about the quality of their work
? Are more committed to the organization
? Have higher retention rates, and
? Are more productive
? Tend to create happy customers – both internal ; external customers.
1.2 NEED FOR THE STUDY:
Employee surveys are rapidly emerging as a vital tool for organizations seeking to maximize employee commitment, customer satisfaction and enhance overall business performance. Recent behavior evidence linking a productive, effective, committed and satisfied workforce to the entire service profit chain is indisputable.
Exit interviews are often too late to address employee retention and problems. The employee survey offers tremendous information about organization climate, employee, and problems.
Employee survey allows an organization to understand employee perception. Perception is a reality because of employees at every organization act on the basis of their perceptions. Management must be keenly aware of employee views. Employee Satisfaction Survey serves as a successful means of measuring and acting upon employees current beliefs on many job-related subjects.
Hence this study is undertaken so as to determine the level of satisfaction among employees in relation to ICOMM TELE LTD and to determine the impact of current policies and programs has on their satisfaction level and finally to identify the factors that contribute towards increasing the level of satisfaction.
1.3 SCOPE OF THE STUDY:
This study is to identify the level of satisfaction among employees’ at ICOMM TELE LTD. This study mainly focuses on various factors affecting the employee satisfaction level.
1.4 OBJECTIVE OF THE STUDY:
• To determine the level of satisfaction at ICOMM TELE LTD.
• To analyze the level of dissatisfaction at ICOMM TELE LTD.
• To analyze the relative importance of the factors contributing to the job satisfaction of employee at ICOMM TELE LTD.
1.5 RESEARCH METHODOLOGY:
This study was conducted to know the satisfaction level of employees at ICOMM TELE LTD. To make the report more accurate a proper methodology is required as a general framework. In order to know and solve the problem there was a need to gather the more appropriate data, hence primary data was collected through a structured questionnaire that was distributed to the employees and the secondary data was collected through different websites to make it more specific.
In this study, there are two values that are expected and observed values, to compare the expected values with those of expected values using chi-square. Those variables are then measured through a questionnaire that was distributed to the employees and after collecting the data, the data was analyzed through a statistical test.
The statistical tool used in this study is the chi-square test and the percentage which is calculated in Ms-excel.