absenteeism networth

8/18/2019 Absenteeism Networth

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A PROJECT REPORT ON

ABSENTEEISM

AT


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ABSTRACT

Absenteeism can be a major personnel problem for organizations. As pressure

increases on the budgets and competitiveness of companies, more attention is being given

to reduce workplace absenteeism and its cost. It is the failure of a worker to report for

work when he is scheduled to work. Trained and skilled human resources are considered

as an asset to the organization whose absence could cause considerable loss in revenue of

the organization.

The main aim of this survey is to find the causes for absenteeism among the

workers in the Networth. with the aim of making recommendations on ways to reducing

it.

The survey result revealed that the main factors behind employee absenteeism are

inadeuate leave and welfare facilities, unmet e!pectations and "ob dissatisfaction.

The result indicated that about half of the employees have abided the leave policies.

Absenteeism was highest among lower level e!ecutives.

The conclusion is that the management may take an action to improve the health and

welfare measures in the organization and provide fle!ibility in work schedule.


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CONTENTS PARTICULARS PAGE NUMBER

Chapter 1

Chapter 2

Chapter 3

Chapter 4

Chapter 5

Chapter 6

List ! ta"#es

List ! !i$%re

I&tr'%(ti&

Re)ie* ! #iterat%re

Resear(h Meth'#$+

#.$ %bjectives of study

#.& Need for study

#.# 'cope of the study

#.( )esearch *esign

• 'ources of data

• Analysis and Interpretation

• 'ample size

#.+ imitations of the study

C,pa&+ pr!i#e

-ata a&a#+sis a&' i&terpretati&

.i&'i&$s/ (&(#%si&s a&' s%$$esti&s

Bi"#i$raph+

A&&e0%re

• -uestionnaire

i

ii

1

2

3

TABLE O. CONTENTS


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LIST O. TABLES

SNO TABLE

NO

PARTICULARS

PAGE N

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eaves availed by various age groups

eaves availed by employees of various designations

eaves availed

)easons for absence

*esignation and )easons for absence

Age and )easons for absence

Action taken for unauthorized leave

*ouble shifts 3Night shifts influences absenteeism

4le!ible time schedules reduces absenteeism

)ewarded for regularity

Impact on your overall performance

%pinions on main reasons for absenteeism

'uggestions to reduce absenteeism


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LIST O. .IGURES

SNO .IGURES

NO

PARTICULARS

PAGE

N

$

&

#

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+

/

0

1

$2

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eaves availed by various age groups

eaves availed by employees of various designations

eaves availed

)easons for absence

*esignation and )easons for absence

Age and )easons for absence

Action taken for unauthorized leave

*ouble shifts 3Night shifts influences absenteeism

4le!ible time schedules reduces absenteeism

)ewarded for regularity

Impact on your overall performance

%pinions on main reasons for absenteeism

'uggestions to reduce absenteeism


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CAPTER 1

INTRO-UCTION


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INTRO-UCTION

Absenteeism does not appear to be recent phenomenon arising out of and peculiar

to modern industrial life, but most have been prevalent from the time man involved

himself in some sort of collective activity.

Though e!cusable to some e!tent as a normal incident of working life, what

transforms absenteeism into a serious problem, is the height to which it rises and the

erratic behavior it displays thus adversely effecting the smooth working of modern

industry. According to modern managers, absenteeism is a major problem in any

enterprise. It is said that this peculiar incidence of today5s industrial life has simulated the

form of a chronic disease is so rampant that it has tended to plague every industry, big

and small organized. It is also said that absenteeism is not a problem e!ceptional to

Indian industry it is universally omnipresent.

At the macro level absenteeism has often been attributed to lack off

6commitment6 on the part of the workforce and a relationship of direct variance has been

hypothesized the two variables. As 7err says 6the workers in process of the early stages

of industrialization is more prone to absenteeism, prolonged sporadic withdrawal from

industrial work naked violence and destruction of machines and property6. ogically, 5

therefore all these factors that influence workers commitment should also be related to

absenteeism.


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A popular of absenteeism analysis according to the social norms of the company

group, which e!ercise a coercive influence upon a worker5s behavior. 'uch norms may

reuire him to be either regular or irregular in attendance at work. The work milieu is

very important since a large position of a worker5s daily life is spent there, the

atmosphere obtaining in the plant effects his attitude towards his work, and either

persuades him to attend regularly or keeps him away.

Irritating uncertainty, irregularly and confusion in the factory are likely to be

imports causes of condition to any of these negative factors, it can also be influenced by

a lament policy, which grants leave, condones or regularizes unauthorized leave.

-E.INITION

The term absenteeism was defined in the report of abor Investigation

8ommittee 9$1(: as ;Total man shifts lost because of absences as a percentage

of the total number of man shifts scheduled to works *ictionary ;Absenteeism is the practice or habit of being

an ?absence> and an absentee is one who habitually stays away


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.EATURES O. ABSENTEEISM

)esearch studies under taken by different authors reveal the following features of

absenteeism

It is comparatively lowest on the payday and later on absenteeism will arise

because of the desire of fulfilling social, family obligations.

The incidents of absenteeism are higher in the night shifts than in the day shifts,

obviously because the employees in the night perceives greater discomfort and

uneasiness.

The rate of absenteeism varies from department to department within an

organization. enerally, it is high production department.

The e!tent of absenteeism is greater among the older employees and among

young employees. The young men are generally found to be absent for a variety

of reasons, including restlessness and a sense of irresponsibility while the older

employees are not able to withstand the strenuous nature of work.

Absenteeism in India is seasonal in character. It is the highest during @archB

AprilB@ay, when the land has to be prepares for monsoon sowing, and also in the

harvest season 9'eptember C %ctober :, when the rate goes as high as (2 percent.


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CAUSES .OR ABSENTEEISM

1 J" 'issatis!a(ti& The idea that attitudes towards the job might affect attendance

perhaps constitutes the older scientific model of absence causation, and it is still

dominant among industrial organization ."ob satisfaction is considered to be influenced

by situational factors such as compensation, job design and human relations practices

,unfavorable attitudes towards the job and especially towards the content of the work are

predictive of absenteeism. Dowever, there is growing evidence that issues of work, such

as fairness and support may be especially critical determinants of attendance patterns.

Eeyond job satisfaction there is growing evidence that moods at work, inde!ed by

affectivity, are associated with absenteeism. 'tudies report that lower absence among

those react positively in the workplace.

2 S(ia# a&' Re#i$i%s Cere,&ies 'ocial and )eligious functions divert the worker5s

attention from the work. In a large number of cases, the proportion of absenteeism is due

to sickness, accident or maternity .In all the plants, absenteeism in high during local

festivals, irrespective of whether the workers are from areas or not.

3 U&satis!a(tr+ h%si&$ C&'iti&s Fnsatisfactory housing conditions at the work

place leading to conseuent ill health due to unsanitary and unhealthy surroundings make

freuent visits to their villages homes.


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4 I&'%stria# !ati$%e ow wages compel a worker to seek some part time job earn some

side income. Eut there is often results in constant fatigue, which compels them to remain

absent for the ne!t day.

5 U&hea#th+ *r7i&$ (&'iti&s The poor and intolerable working conditions in the

factories irritate the workers. G!cess heat, noise either too much or too low lighting, poor

ventilation, dust, smoke, etc. cause poor health of the workers. These factors cause the

workers to be absent.

6 Pr *e#!are !a(i#ities Through a number of legislation5s concerning welfare

facilities are enacted, many organizations fail to provide welfare facilities. This is either

due to poor financial position of the companies of due to the e!ploitative attitude of the,

employer. The poor welfare facilities include poor sanitation, washing, bathing, first aid

appliances, ambulances, rest rooms, drinking water, canteen, shelter creches etc. the

dissatisfied workers with these facilities prefer to be away from the place.

8 A#(h#is,H The habit of alcoholism among workers is a significant cause of

absenteeism, which is higher in the first week of each month, when the workers receive

their wages. They rush to liuor shops and drink to forget their immediate worries. %nce

indulged to drink, the habit continues. Dangover the ne!t day leads to absenteeism.

9 I&'e"te'&ess The low level wages and unplanned e!penditure of the workers force

them to borrow heavily. The research studies indicate that workers borrow more than $2

time of their net pay. 8onseuently, the workers fail to repay the money. Then they try to

escape from the order to avoid the money lenders. This leads to absenteeism.


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: Ma#a';%st,e&t *ith ;" 'e,a&' The fast changing technology demand higher level

skills from the workers. 'ome workers fail to meet these demands due to their lower

levels of education and absence of training.

1


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T>PES O. ABSENTEEISM

Absenteeism can be categorized into three typesH

1 Ph+si(a# a"se&(e hysical absence is when employee is not present at work when

they are scheduled to be there. This is divided into voluntary or involuntary absenteeism.

Joluntary absence is employee>s deliberate choice and is under the control of

employee.

Involuntary absence is viewed to be beyond the employee>s immediate control

like accident or sudden sickness.

2 A%thri?e' a"se&teeis, It is when an employee is absent himself from work by

taking permission from his superior and applying for leave. Gmployees should be

encouraged to seek permission before hand if the situation allows for it

3 U&a%thri?e' a"se&teeis, If an employee is absent himself from work without

informing or taking permission and without applying for leave such absenteeism is called

unauthorized absenteeism. This is considered as unacceptable and should not be tolerated

by the company management. *isciplinary procedures are usually used to handle this

problem.


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MEASURES TO MINIMI@E ABSENTEEISM

%rganizations use different ways of resolving absenteeism in the workplace.

%rganizations, however should at least implement an absenteeism monitoring system

where appropriate. It allows the employer to effectively monitor and record attendance

and late arrivals. They should adopt a consistent approach when dealing with individual

employees in keeping with company policy, alternatively organization may reward

employees for attendance. olicies implemented must be effectively communicated to all

employees and should be consistent. The health and safety e!ecutives 9D'G: have issued

a guide for employers and managers for dealing with sickness and absenteeism ,long term

sickness absenteeism defined as four weeks or more is a burden to employers as the

absence san lead to mounting sick pay, high recruitment costs and high work load for

colleagues .The D'G guide e!plains how employers and employees can work to hasten a

successful return to work. The guide suggests that more could be done to minimize the

effect of illness caused, or made worse by, work activities but that absence management

is a critically important issue for many business .The following measures are useful in

controlling or minimizing absenteeism.

'electing the employee by testing them thoroughly regarding their aspiration,

value system, responsibility and sensitiveness.

Adopting humanistic approach in dealing with the personal problems of

employees.

4ollowing a proactive approach in identifying and redressing employee

grievances.


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roviding hygienic working conditions.

roviding welfare measures and fringe benefits balancing the need for the

employee and the ability of the organization.

roviding high wages and allowances based on the organizational financial

position.

Improving the communication network, particularly the upward communication.

roviding leave facility based on the needs of the employee and organization

reuirement.

roviding safety and healthy measures.

roviding cordial human relation and industrial relations.

Gducating the workers.

8ounseling the worker about their careers, income and e!penditure, habits and

culture.

4ree flow of information, e!changing of ideas, problems etc. between subordinate

and superior.

ranting leave in case of sickness of employee and his family members.

%ffering attendance bonus and inducements.


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roviding e!tensive training, encouraged, special allowances in case of

technological advancements

Adoption of Gmployee state Insurance 9G.'.I: schemeB Fnder provision of the G'I

scheme, besides various other benefits, workers are entitled to + days leave in a

year on half pay.

ABSENTEEISM RATE

Dow freuently employees are absent from their work Cthe absenteeism rate Cis also

directly related to human resource planning and recruitment. =hen employees miss

work, the organization incurs direct costs of lost wages and decreased productivity .It is

not uncommon for organizations to hire e!tra workers just to make up for the number of

absence totaled across all employees. In addition to these direct costs, indirect cost may

underlie e!cessive absenteeism. A certain amount of absenteeism is, of course

unavoidable.

CALCULATION O. ABSENTEEISM RATE

To calculate the rate of absenteeism, we reuire the number of persons schedule

to work and the members actually present. =hen the employee has no reason to e!pect,

well in advance that the employee will to be available for work at specified time.

A"se&teeis, rate

N%,"er ! *r7er'a+s #st thr%$h ;" a"se&(e '%ri&$ peri' 1


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OR

A"se&teeis, rate K N%,"er ! ,a&'a+s #st 1


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I&(rease i& A',i&istrati)e (stH oss of productive time spent by the managers

to secure replacement employees and 3or reassigning employees. Additional

management is reuired to maintain administrative systems dealing with any

control measures for absenteeism.

CAPTER 2

LITERATURE REDIE


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REDIE O. LITERATURE

A#"ert eiss conducted a study on FA"se&teeis, which was carried out

in $11( at Easter& Cape Ma&%!a(t%ri&$ se(tr According to the author, a

committee was formed consisting a combination of management and employees

representative who generally meet formally on a monthly basis to review absence

statistics and then informally to counsel those with poor attendance records when

necessary. These committee members were responsible for highlighting, investigating

and counseling any employees who were potential abusers of sick leave. De

concluded that organizations that used disciplinary action as a method to control

absenteeism failed because organizations ended up dismissing the employees.

Incentives were used to motivate and reward employees, as unused sick leave

allowance days were paid out to employees in the form of attendance rewards. The

result was that absenteeism dropped by (2L.

Jh& M I)a&(e)i(h 9Fniversity of Douston: has published an article

FPre'i(ti&$ a"se&teeis, !r, Prir A"se&(e a&' r7 Attit%'es According

to the author, absenteeism is a costly and disruptive withdrawal behavior that is

difficult to control 9Fitzgibbons and Moch,1980 : Mirvis and Lawler,1977 :

Mirvis and Macy,1976 :. %ne conservative estimate indicates that the total annual


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cost of absenteeism in the Fnited states is between M0.+ to M& billion 9 Steers

a&' Rh'es 1:89 . iven such a staggering cost, it is not surprising that

researchers and practicing managers continue to search for clues to help them

better understand and predict employee>s absenteeism.

-r )ersta'/ H;#sta' and Nei# Tr$eir conducted research on FA"se&teeis,

'%e t i##&ess The study was conducted in the year $11$. The companies

selected had largest computers and insurance business in Norway.The data was

obtained through focus group. Ten focus groups were randomly organized from

different work areas of two companies with similar work assignments.The

discussions in the groups produced the following informationH

a: A feeling of well being was one of the most important factors in absenteeism.

b: ood organization produced greater productivity and better attendance, and poor

organization yielded higher absenteeism.

c: The size of the department or work group and employee recognition was also

important contributors.

-rR"ert L Bertera conducted a survey on the FBeha)ira# ris7 !a(trs

ass(iate' *ith A"se&teeis, The study was carried out between $10( C $100.

According to the author,the behavioral risk factors related to absenteeism are heavy

alcohol consumption, smoking, high blood pressure, obesity, high blood cholesterol.

Gmployees with these behaviors missed more work days than employees did not have

any of these risk factors. The total annual company cost of absenteeism related to these

risk factors was estimated to be M /2.0 million. It is concluded that company related


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health promotion activities should address these risk factor in an attempt to reduce health

care cost.

Ia& .ir&s/ A&th&+ Tra)a$#i&e a&' Gra&t ONei##/ 2


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CAPTER 3

RESEARC

METO-OLOG>


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OBJECTIDES O. TE STU->

The main aim of research at NGT=%)TD is to study absenteeism.

To study the rate of absenteeism and the factors influencing absenteeism.

To study the economic benefit of the employees in organization.

To study the various causes of absenteeism in NGT=%)TD.

To suggest feasible measures to reduce the rate of absenteeism


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NEE- .OR TE STU->

Duman )esources play a crucial role in the development process of modern

economies. It is in fact, said that all development comes from human mind. Absenteeism

is a common factor prevailing in the Indian industries. The main objective of absenteeism

is to ma!imize the profit by employing minimum number of men, material and money.

The study aims at causes of absenteeism of employees in NGT=%)TD rivate limited.

At present organizations in India take real interest in controlling absenteeism. @easures

to prevent strikes and lock outs have received far and greater attention. %ne reason for

this situation may be that strikes and lockouts are more noisy and visible while

absenteeism is silent and unnoticeable.

4or an organization to give better services, its employees should be dedicated and

punctual. This can be achieved only if absenteeism is checked and controlled on a

regular basis.

This study aims to find the causes for absenteeism and suggest possible measures

to control absenteeism.


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SCOPE O. TE STU->

The study has been carried out taking into consideration the employees of the

organization.

The study includes the assessment of absenteeism in employees and steps

taken by management to control absenteeism in their organization.

The study also provides the necessary actions and alternatives to be

considered in the form of suggestions.


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RESEARC METO-OLOG>

)esearch design is the specification of methods and procedures for acuiring the

information needed to the structure or solve problems techniue.

a S%r(es ! 'ata

The information regarding the survey was obtained through primary and secondary

sources.

Pri,ar+ 'ata The main source of primary data is collected through structured

uestionnaires followed by personnel interview from employee at various levels.

Se(&'ar+ 'ata The sources of secondary data pertaining to the study are

attendance register of NGT=%)TD, synopsis from various sections of personnel

department, annual3monthly reports of NGT=%)TD, "ournals, books, Internet

websites.

" A&a#+sis a&' I&terpretati&

-uestionnaire consists of && uestions which include open ended and multiple choice

uestions. %verall +2 employees responded to these uestions. 'imple percentage method

is followed for analyzing the data pertaining to different dimensions of employees. The

collected data is tabulated and systematically presented in tables and graphs.


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( Sa,p#e si?e A population of $22 employees is taken for administering random

uestionnaire. %ut of it +2 employees responded. 'o the sample size taken is +2

employee.

LIMITATIONS O. TE STU->

The study is limited by the fact that it could not cover the entire organization and

only samples of employees are taken for purpose study.

The accuracy of the information is not guaranteed although care has been taken

to cross check information though separate uestions.

'ome employees were not able to share their opinions and feelings freely while

interviewing them. 'o it was the disadvantage to gather correct information.

The time period of the project work is one and half month and is not sufficient to

clearly analyze the e!act reasons of absenteeism.


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IN-USTR> PRO.ILE


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istr+ ! St(7 Br7i&$

The history of stock brokers can be traced back to the origins of the first stock e!change

in $2& at Amsterdam. Gven before that brokers are said to have e!isted in 4rance dealing

with government securities. The Amsterdam 'tock G!change was involved in buying and

selling of shares for the *utch Gast India 8ompany. Dowever, the first real stock

e!change came up in hiladelphia in the Fnited 'tates during the late $0th century. ater

it was the New ork stock e!change which saw a rise in its popularity. =all 'treet, as it

was called, became the hub of brokerage activities. Garlier stock brokers were largely

unorganized, but later most of them joined hands to form institutes and organizations.

Till the $1025s stock broking services were used only by the wealthy class who could

afford them. ater with the advent of the Internet, stock broking became very easy. Thus,

the price tag on stock brokers lowered considerably and their services became available

even to the common man. The stock broking duties are now mostly taken up by major

organizations with the smaller companies being absorbed by them. In India, too with

increasing globalization the major corporations are penetrating deeper into the society.

Distory of 'tock G!changes in IndiaH

'tock markets refer to a market place where investors can buy and sell stocks. The price

at which each buying and selling transaction takes is determined by the market forces 9i.e.

demand and supply for a particular stock:. et us take an e!ample for a better

understanding of how market forces determine stock prices. AE8 8o. td. enjoys high

investor confidence and there is an anticipation of an upward movement in its stock price.

@ore and more people would want to buy this stock 9i.e. high demand: and very few


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people will want to sell this stock at current market price 9i.e. less supply:. Therefore,

buyers will have to bid a higher price for this stock to match the ask price from the seller

which will increase the stock price of AE8 8o. td. %n the contrary, if there are more

sellers than buyers 9i.e. high supply and low demand: for the stock of AE8 8o. td. in

the market, its price will fall down. In earlier times, buyers and sellers used to assemble

at stock e!changes to make a transaction but now with the dawn of IT, most of the

operations are done electronically and the stock markets have become almost paperless.

Now investors don?t have to gather at the

G!changes, and can trade freely from their home or office over the phone or through

internet

'tock Eroking 'ervicesH

Terminals providing retail stock broking facilities.

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and shares. Instead we provide services which are multi dimensional and multiBfocused in

their scope. There are several advantages in utilizing our 'tock Eroking services, which

are the reasons why it is one of the best in the country. =e offer trading on a vast

platform P National 'tock G!change and Eombay 'tock G!change. @ore

importantly, we make trading safe to the ma!imum possible e!tent, by accounting

for several risk factors and planning accordingly. =e are assisted in this task by our inB

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research team, comprising of technical analysts as well as fundamental specialists, secure

resultBoriented information on market trends, market analysis and market predictions.

This crucial information is given as a constant feedback to our customers, through daily


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reports delivered thrice daily P The reBsession )eport, where market scenario for the

day is predicted, The @idBsession )eport, timed to arrive during lunch break , where the

market forecast for the rest of the day is given and The ostBsession )eport, the final

report for the day, where the market and the report itself is reviewed. To add to this

repository of information, we publish a monthly magazine OlduoP7arvy P The

4inapolisOrduoP, which analyzes the latest stock market trends and takes a close look

at the various investment options, and products available in the market, while a

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32/83

istr+ ! the I&'ia& St(7 Mar7et

%ne of the oldest stock markets in Asia, the Indian 'tock @arkets has a &22 years

old history.

ear $022 H Gast India 8ompany was the dominant institution and by end of the

century, business in its loan securities gained full momentum. ear $0#2 H Eusiness on

corporate stocks and shares in Eank and 8otton presses started in Eombay. Trading list

by the end of $0#1 got broader ear $0(2 H )ecognition from banks and merchants to

about half a dozen brokers ear $0+2 H )apid development of commercial enterprise

saw brokerage business attracting more people into the business ear $02 H The

number of brokers increased to 2 ear $02B$ H The American 8ivil =ar broke out

which caused a stoppage of cotton supply from Fnited 'tates of AmericaP marking the

beginning of the 6'hare @ania6 in India ear $0&B# H The number of brokers

increased to about &22 to &+2 ear $0+ H A disastrous slump began at the end of the

American 8ivil =ar 9as an e!ample, Eank of Eombay 'hare which had touched )s. &0+2

could only be sold at )s. 0/:

reBIndependence 'cenario B Gstablishment of *ifferent 'tock G!changes

ear $0/( H =ith the rapidly developing share trading business, brokers used to gather at

astreet 9now well known as 6*alal 'treet6: for the purpose of transacting business. ear

$0/+ H 6The Native 'hare and 'tock Erokers5 Association6 9also known as 6The

Eombay 'tock G!change6: was established in Eombay ear $002 H *evelopment of

cotton mills industry and set up of many others ear $01( H Gstablishment of 6The

Ahmedabad 'hare and 'tock Erokers5 Association6

. ooling of group resourcesH 7arvy group consists of eight subsidiaries, so it can easily

pool up its resources for accomplishment of its goals, whenever needed. The groups

can help each other whenever there are peaks and lows, and even in the case when they

have huge targets just as we saw few years back, Tata group pooling its resources to

acuire 8orus.


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%bjectiveH

'hare in the market offer a high capital appreciation but the movement of the share price

is always like a wave and tide motion of the sea. Jolatility in the stock return is an

integral part of stock market with the alternating bull and bear phases. In the bullish

market, the share prices soar high and in the bearish market share prices fall down and

these ups and downs determine the return and volatility of the stock market. Jolatility is a

symptom of a highly liuid stock market. ricing of securities depends on volatility of

each asset. It has an impact on business investment spending and economic growth

through a number of channels. 8hanges in local or global economic and political

environment influence the share price movements and show the state of stock market to

the general public. The issues of return and volatility have become increasingly important

in recent times to the Indian investors, regulators, brokers, policy makers, dealers and

researchers with the increase in the 4IIs investment. Dence an analysis has been made to

know the volatility trend in the Indian stock market and the reasons for the bear and bull

trend in the market. Nifty and 'ense! are taken as representative of Indian markets.

This project gave me opportunity to have an idea about volatility in stock market. This

gave me idea about and fundamental analysis in stock market and how trading is being

done in stock market.

The objectives of the project can be mentioned as belowH

To study volatility in Indian stock market while taking 'GN'GQ of Eombay stock

e!change as a source of secondary data which broadly represent Indian stock

market along with NI4T of National 'tock G!change. Euild understanding of central ideas of stock market.

*evelop familiarity with the analysis of stock market.

4urnish institutional material relevant for understanding the environment in which

trading decisions are taken. Fnderstanding of Eull @arket and Eear @arket.


34/83

This project will be helpful to know volatility in Indian 'tock @arket and reasons for

such high volatility and would be able to take decisions for investment in volatile stock

market

Re(e&t tre&'s i& .i&a&(ia# Mar7et i& I&'ia

India has a diversified financial sector, which is undergoing rapid e!pansion. The sector

comprises commercial banks, insurance companies, nonBbanking financial companies,

coBoperatives, pension funds, mutual funds and other smaller financial entities. The

financial sector in India is predominantly a banking sector with commercial banks

accounting for more than 2 per cent of the total assets held by the financial system.

India5s services sector has always served the country>s economy well, accounting for

about +/ per cent of the gross domestic product 9*:. In this regard, the financial

services sector has been an important contributor.

The overnment of India has introduced reforms to liberalise, regulate and enhance this

industry. At present, India is undoubtedly one of the world5s most vibrant capital markets.

8hallenges remain, but the future of the sector looks good. The advent of technology has

also aided the growth of the industry. About /+ per cent of the insurance policies sold by&2&2 would, in one way or another, be influenced by digital channels during the preB

purchase, purchase or renewal stages, as per a report by Eoston 8onsulting roup 9E8:

and oogle India.

Mar7et Si?e

The size of banking assets in India reached F'M $.0 trillion in 4$# and is e!pected to

touch F'M &0.+ trillion by 4&+. Information technology 9IT: services, the largest

spending segment of India5s insurance industry at )s (,222 crore 9F'M (1.#$ million: in

&2$(, is projected to continue strong growth at $ per cent.

The total market size of the insurance sector in India was F'M .( billion in 4$# and is

e!pected to breach the F'M #+2C(22 billion mark by &2&2.


35/83

Investment corpus in India5s pension sector could cross F'M $ trillion by &2&+, following

the passage of the ension 4und )egulatory and *evelopment Authority 94)*A: Act

&2$#, according to a joint report by 8IICG on ensions Eusiness in India.

India>s foreign e!change 94ore!: reserves touched F'M #&2.+ billion on "uly &+, &2$(,

which was just F'M million less than the allBtime high of F'M #&2./1 billion achieved

on 'eptember &, &2$$.

I&)est,e&ts

8orporate law firms in India are benefiting from an increase in the value of mergers and

acuisitions 9@OAs: and share acuisitions during the course of the year. The enterprise

value of deals on which law firms have advised has shot up to F'M #+./ billion this year

till *ecember, a && per cent increase over the F'M &1.# billion in deals seen in the whole

of &2$#, according to Thomson )euters data.

• 4inancial services provider )eliance 8apital td, a part of Anil Ambani>s )eliance

roup, has formed a longBterm strategic alliance with "apan>s 'umitomo @itsui

Trust Eank td, offering the "apanese lender a small euity stake in the company.

As part of the agreement, 'umitomo @itsui Trust Eank will pick up an initial &.//

per cent stake in )eliance 8apital for )s #/$ crore 9F'M 2.&& million: through a

preferential allotment of shares.

•

I8, 'ingapore5s sovereign wealth fund, is buying about /2 per cent stake inE'GBlisted Nirlon for )s $,#1&. crore 9F'M &&.2/ million:. Nirlon owns an

information technology park in the western suburbs of @umbai. I8 said it had

signed agreements to buy #1.& per cent in Nirlon from its promoters, including the

'agar family, for )s /0(.# crore 9F'M $&/.#& million:. It will make an open offer

for &0.( per cent stake from public shareholders at the same price.

• 8anada pension plan investment board, which manages assets worth 8A* (.(

billion 9F'M $1#.1& billion:, has through a subsidiary invested )s $,222 crore

9F'M $&.#( million: in OT Infrastructure *evelopment rojects td, a unit of

arsen and Toubro td, India>s largest engineering and construction company.

The investment is made by way of subscribing compulsory convertible preference

shares, OT said in a statement. In "une, OT and 8anada ension lan had

signed a definitive investment agreement.


36/83

• Nearly three years after the E'G launched a separate platform for small and

medium enterprises 9'@Gs:, the market capitalisation of the segment crossed )s

$2,222 crore 9F'M $.& billion: recently. The market capitalization of the 0& listed

'@Gs was )s $2,$$0.12 crore 9F'M $.( billion:.

• The overnment of India signed an agreement with Asian *evelopment Eank

9A*E: for a F'M /+ million loan and a F'M $.0 million grant that will help

improve water resource management in three 9#: towns of 7arnataka in the Fpper

Tungabhadra subBbasin. This loan from the A*E>s %rdinary 8apital )esources

has a &+Byear term including a grace period of five years.


37/83

G)er&,e&t I&itiati)es

'everal measures have been outlined in the Fnion Eudget &2$(B$+ that aim at reviving

and accelerating investment which, inter alia, include fiscal consolidation with emphasis

on e!penditure reforms and continuation of fiscal reforms with rationalization of ta!

structureP fillip to industry and infrastructure, fiscal incentives and concrete measures for

transport, power, and other urban and rural infrastructureP measures for promotion of

4oreign *irect Investment 94*I: in selected sectors, including defence manufacturing

and insuranceP and, steps to augment low cost longBterm foreign borrowings by Indian

companies. 4iscal reforms have been bolstered further by the recent deregulation of

diesel prices. The launch of ?@ake in India> global initiative is intended to invite both

domestic and foreign investors to invest in India. The aim of the programme is to projectIndia as an investment destination and develop, promote and market India as a leading

manufacturing destination and as a hub for design and information. The programme

further aims to radically improve the Gase of *oing Eusiness, open 4*I regime, improve

the uality of infrastructure and make India a globally competitive manufacturing

destination.

The )eserve Eank of India 9)EI: has eased norms for mortgage guarantee companies

9@8: enabling these firms to use contingency reserves to cover for the losses suffered

by the mortgage guarantee holders, without having to take approval of the ape! bank.

Dowever, such a measure can only be initiated if there is no single option left to recoup

the losses.

4inancial inclusion is among the topmost priorities of the Indian government. G!clusion

of a large number of people from access to financial services affects the growth of the

country. rime @inister @r Narendra @odi launched the radhan @antri "an *hanojana

in August &2$(. De said that that the objective to cover /+,222,222 households with at

least one account under the ojana will be achieved by "anuary &, &2$+.

)etirement fund manager G4% will launch its project to provide portable universal 4

account numbers 9FAN: to its subscribers on %ctober $, &2$(. Also, the government

will launch unified web portal IN 9abour Identification Number: to simplify business

http://www.ibef.org/economy/make-in-indiahttp://www.ibef.org/economy/make-in-india


38/83

regulations and bring in transparency and accountability in labour inspections by

agencies and bodies under the control of the labour ministry.

The )EI has simplified the rules for credit to e!porters. Now, e!porters can get longBterm

advance credit from banks for up to $2 years to service their contracts. The reuirement is

that they have a satisfactory record of three years in order to get payments from the

banks, which can adjust the payments against future e!ports.

Ra' Ahea'

India is today one of the most vibrant global economies, on the back of robust banking

and insurance sectors. The country is projected to become the fifth largest banking sector

globally by &2&2, as per a joint report by 7@B8II. The report also e!pects bank credit

to grow at a compound annual growth rate 98A): of $/ per cent in the medium term

leading to better credit penetration. ife Insurance 8ouncil, the industry body of life

insurers in the country also projects a 8A) of $&C$+ per cent over the ne!t few years

for the financial services segment.

G!change )ate FsedH IN) $ K F'M 2.2$& as on "anuary &$, &2$+

Re!ere&(es Media Reports, Press Releases, RBI Document, KPMG-CII Report


39/83

COMPAN> PRO.ILE


40/83

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48/83

CAPTER 5

-ATA ANAL>SIS AN-

INTERPRETATION


49/83

ANAL>SIS AN- INTERPRETATION

A 'tructured -uestionnaire consisting of && uestions of openBended and multiple choice

nature on the topic FA"se&teeis, were administered to 2 employees belonging to

different departments out of which only +2 of them responded. The uestions were based

on the reasons for absence, its impact on employee performance and suggestions from

respondents. The collected data is tabulated and systematically presented in tables and

graphs. Analysis is done by taking simple percentage method.

1 A$e

An analysis is carried out between the age of the respondents. The following responses

were made which are tabulated below.

Ta"#e N 51 Lea)es a)ai#e' "+ )ari%s a$e $r%ps

Opti&s N ! resp&'e&ts Per(e&ta$e

&2B&+ $& &+

&B#2 $+ #(

#$B(+ $# &0

(B2 $2 $#

Total +2 $22


50/83

.i$%re 51 Lea)e a)ai#e' "+ )ari%s a$e $r%ps

I&terpretati&

#(L of the respondents participated in the survey are of age group between &B#2.

&0L of the respondents participated in the survey are of age group between #$B(+.

&+L of the respondents participated in the survey are of group between &2B &+.

$# L of the respondents participated in the survey are of age group between (B2

I&!ere&(e

4rom the above table, we can conclude that respondents who are under age group &B#2

have participated more, when compared to others,


51/83

2 -esi$&ati&

An analysis is carried out between the designations of the respondents. The following

responses were made which are tabulated below.

Ta"#e N 52 Lea)es a)ai#e' "+ e,p#+ees ! )ari%s 'esi$&ati&s

-esi$&ati& N ! resp&'e&ts Per(e&ta$e

Top level e!ecutive $0 #2

@iddle level e!ecutive $& &2

ower level e!ecutive &2 (2

Total +2 $22

.i$%re 52 Lea)es a)ai#e' "+ e,p#+ees ! )ari%s 'esi$&ati&s

I&terpretati&

(2 L of the respondents being lower level e!ecutives were found to be absent.

#2L of the respondents being top level e!ecutives were found to be absent.


52/83

&2L of the respondents being middle level e!ecutives were found to be absent.

I&!ere&(e

4rom the above table, we can conclude that majority of the lower level e!ecutives tend

to remain absent when compared to top and middle level e!ecutives.

3 Lea)es a)ai#e'


53/83

The respondents were asked about how many leaves they have availed during the last

year. The data was collected and tabulated in the following table.

Ta"#e N 53 Lea)es a)ai#e'

Lea)es a)ai#e' N ! resp&'e&ts Per(e&ta$e

$2 days & (

$+ days $$ &&

&2 days &+ +2

&+ days $& &(

Total +2 $22

.i$%re 53 Lea)es a)ai#e'

I&terpretati&

+2L of the respondents availed &2 days leave per year

(L of the respondents availed $2 days leave per year


54/83

&& L of the respondents availed $+ days leave per year

&( L of the respondents availed &+ days leave per year

I&!ere&(e

4rom the above figure, we can conclude that majority of the employees i.e +2L availed

&2 days leave within a year.

4 Reas&s !r a"se&(e

The respondents were asked about the reasons for being absent. %ptions like health

grounds, boredom 3 repetitive work , problems with superior, festivals3rituals,


55/83

tour3marriage3death were given. The data was collected and tabulated in the following

table.

Ta"#e N 54 Reas&s !r a"se&(e

Reas&s !r a"se&(e N ! resp&ses Per(e&ta$e

Dealth grounds &0 +L

Eoredom 3 )epetitive work ( 0L

roblems with superior $ &L

4estivals3 rituals $& &(L

Tour3@arriage 3*eath + $2 L

Total +2 $22

.i$%re 54 Reas&s !r a"se&(e

I&terpretati&

+L of the respondents reasons for being absent is due to Dealth reasons


56/83

0L of the respondents reasons for being absent is due to Eoredom3 repetitive

work.

&L of the respondents reasons for being absent is due to roblems with superior.

&( L of the respondents reasons for being absent is due to festivals3)ituals.

$2L of the respondent>s reasons for being absent is due to Tour 3 @arriage 3

*eath.

I&!ere&(e

4rom the above figure, it is found that most respondents reasons for absence are

Dealth issues, 4estivals3 )ituals .

5 -esi$&ati& a&' Reas&s !r a"se&(e

An analysis is carried out between the designations of the respondents and the

reasons for their absence, the following responses were made which are tabulated below.

Ta"#e N 55-esi$&ati& a&' Reas&s !r a"se&(e

Reas&s !r a"se&(e

-esi$&ati& ea#th

$r%&'s

Bre',K

Repetiti)e

*r7

Pr"#e,s

*ith

s%perir

.esti)a#s K

Rit%a#s

T%rK

Marria$eK

-eath

Tta#

Tp #e)e# e0e(%ti)e $# $ $ $+

Mi''#e #e)e# e0e(%ti)e $# & B $+


57/83

L*er #e)e# e0e(%ti)e & + B $& $ &2

Tta# +2

I&terpretati&

%ut of #2 top level and middle level e!ecutives,& of them responded to health

grounds as the reasons for their absence

About $& lower level e!ecutives pointed to festivals3rituals as the reasons for

absence.

I&!ere&(e

@ost of the top level and middle level e!ecutives were being absent due to health

problems while ower level e!ecutives were absent due to festivals and rituals.


58/83

6. A$e a&' Reas&s !r a"se&(e

An analysis is carried out between the age of the respondents and the reasons for

their absence, the following responses were made which are tabulated below.

Ta"#e N 56A$e a&' Reas&s !r a"se&(e

Reas&s !r a"se&(e

A$e ea#th

$r%&'s

Bre',K

Repetiti)e

*r7

Pr"#e,s

*ith

s%perir

.esti)a#s K

Rit%a#s

T%rK

Marria$eK

-eath

Tta#

2


59/83

5


60/83

Total +2 $22

.i$%re 58A(ti& ta7e& !r %&a%thri?e' #ea)e

I&terpretati&

(&L of the respondents said that they were asked to work e!tra for unauthorized

leave.

#0 L of respondents said that the management issued a memo for taking

unauthorized leave .

&2L of the respondents said that management implemented fine when they took

unauthorized leave .

I&!ere&(e

4rom the above figure, it has been found that the management either issued a memo or


61/83

asked the employees to work e!tra hours. No employees responded to termination .

9 -%"#e shi!ts KNi$ht shi!ts i&!#%e&(es a"se&teeis,

=hen the respondents were asked about their opinions regarding whether the double

shifts3nigh shifts influences absenteeism. %ptions like to a great e!tent, to a moderate

e!tent, not all were given and the following responses were made which are tabulated in

the following data .

Ta"#e N 59 -%"#eK Ni$ht shi!ts i&!#%e&(es a"se&teeis,

-%"#e shi!tsK&i$ht shi!ts

i&!#%e&(es a"se&teeis,

N ! resp&ses Per(e&ta$e

To a great e!tent $# &

To some e!tent & +&

Not at all $$ &&

Total +2 $22


62/83

.i$%re 59-%"#eK Ni$ht shi!ts i&!#%e&(es a"se&teeis,

I&terpretati&

+&L of the respondents said that to some e!tent double shifts 3night shifts

influences absenteeism.

&L of the respondents said that the double shifts3 night shifts influences

absenteeism to a great e!tent.

&&L of the respondents said that double shifts and night shifts will not affect

absenteeism.

I&!ere&(e

4rom the above figures, most of the respondents said that to some e!tent double

shifts3night shifts affected absenteeism.


63/83

: .#e0i"#e ti,e s(he'%#es re'%(es a"se&teeis,

=hen the respondents were asked regarding whether the fle!ible time schedules

reduces absenteeism, the following responses were made.

Ta"#e N 5: .#e0i"#e s(he'%#e re'%(es a"se&teeis,

.#e0i"#e ti,e s(he'%#es

re'%(es a"se&teeis,


es #1 /0

No $$ &&Total +2 $22

.i$%re 5: .#e0i"#e ti,e s(he'%#es re'%(es a"se&teeis,

I&terpretati&


64/83

/0L of the respondents said that fle!ible time schedules can decrease absenteeism

&&L of the respondents said that fle!ible time schedules cannot decrease

absenteeism.

I&!ere&(e

4rom the above figure, most of the respondents said that fle!ible time schedules can

reduce absenteeism.


65/83

1


66/83

+&L of the respondents said that they were rewarded for maintaining perfect

attendance.

(0L of the respondents said that they were not awarded for regularity.

I&!ere&(e

Dalf of the respondents said that they were rewarded for regularity whereas other half

said that they were not rewarded for regularity.

11 I,pa(t & +%r )era## per!r,a&(e

The respondents were asked whether they have any impact on their overall performance,


67/83

%ptions like to a great e!tent , not at all were mentioned. The following responses were

made.

Ta"#e N 511I,pa(t & )era## per!r,a&(e

I,pa(t & +%r )era##

per!r,a&(e


To a great e!tent + $2

To some e!tent (2 02

Not at all + $2

Total +2 $22

.i$%re 511I,pa(t & )era## per!r,a&(e

I&terpretati&

02L of the respondents felt that to some e!tent absenteeism affect their overall


68/83

performance.

$2L of the respondents felt that absenteeism had a great impact on their overall

performance.

$2 L of the respondents felt that absenteeism do not affect their overall

performance.

I&!ere&(e

4rom the above figure, it is clear that most of the respondents feel that their overall

performance gets affected due to absenteeism.

12 Opi&i&s & ,ai& reas&s !r a"se&teeis,

=hen the respondents were asked about their opinion regarding the reasons for

absenteeism in their organizations, the following responses were made.

Ta"#e N 512 Opi&i&s & ,ai& reas&s !r a"se&teeis, i& their r$a&i?ati&

Opi&i&s & ,ai& reas&s

!r a"se&(e


Dealth problems &+ +2


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=ork load $# &

ow salary $& &(

Total +2 $22

.i$%re 512 Opi&i&s & ,ai& reas&s !r a"se&(e i& their r$a&i?ati&

I&terpretati&

+2L of the respondents gave opinion that the absenteeism is due to health

reasons.

&L of the respondents gave opinion that the absenteeism is due to heavy work

load.

&(L of the respondents gave opinion that the absenteeism is due to low salary.


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I&!ere&(e

Dalf of the respondents opined that the main reason for absenteeism in their organization

is health issues. 'ome of them pointed to heavy work load while other mentioned low

salary as the main reasons for absenteeism in their organization .

13 S%$$esti&s t re'%(e a"se&teeis,

The respondents were asked to give suggestions on how to reduce absenteeism in their

organizations, the following responses were made.

Ta"#e N 513 S%$$esti& t re'%(e a"se&teeis, i& their r$a&i?ati&

S%$$esti&s t re'%(e N ! resp&ses Per(e&ta$e


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a"se&teeis,

Attractive attendance Eonus && ((

Adeuate leave facilities $+ #2

'trict leave rules #

)educed work load $2 &2

Total +2 $22

.i$%re 513 S%$$esti&s t re'%(e a"se&teeis, i& their r$a&i?ati&

I&terpretati& H

((L of the respondents suggested that attractive attendance bonus can reduce

absenteeism in their organization.

#2L of the respondents suggestion that adeuate leave facilities can reduce

absenteeism in their organization.

L of the respondents suggested that by implementing strict rules absenteeism

can be reduced.


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$2L of the respondents suggested that by reducing work load absenteeism can be

reduced.

I&!ere&(e

Almost half of the respondents suggested that attractive attendance bonus can reduce

absenteeism in their organization. 'ome of them suggested for adeuate leave facilities.

=hile others suggested reduced work load to reduce absenteeism in their organization.

CAPTER 6


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.IN-INGS/

CONCLUSIONS AN-

SUGGESTIONS

.IN-INGS

@ajority of the respondents i.e #(L who are under age group &B#2 have

participated more, when compared to others.

@ajority of the lower level e!ecutives i.e (2L tend to remain absent when

compared to top and middle level e!ecutives.

@ajority of the employees i.e +2L availed &2 days leave within a year.

@ost of the respondents i.e +L reasons for absence are Dealth issues, 4estivals3

)ituals .


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@ajority of the respondents i.e ( L said that they were asked to work e!tra for

unauthorized leave .No employees responded to termination

@ost of the respondents i.e +& L said that to some e!tent double shifts3night

shifts affected absenteeism.

@ost of the respondents i.e /0L said that fle!ible time schedules can reduce

absenteeism and the remaining &&L of the respondents said that fle!ible time

schedules cannot decrease absenteeism.

@ajority of respondents i.e +& L said that they were rewarded for regularity

whereas other remaining (0L said that they were not rewarded for regularity.

@ost of the respondents i.e +&L of the respondents said that they were rewarded

for maintaining perfect attendance and the remaining (0L of the respondents said

that they were not awarded for regularity.

@ost of the respondents i.e 02L feel that their overall performance gets affected

due to absenteeism.

Dalf of the respondents i.e +2L gave opinion that the absenteeism is due to health

reasons.

@ost of the respondents i.e ((L suggested that attractive attendance bonus can

reduce absenteeism in their organization.


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CONCLUSIONS

A survey is conducted on the topic FA"se&teeis, i& NETORT P)t #t' during +th

*ec &2$$ C $2th "an &2$&. Eased on the analysis and interpretation, the following

conclusions are made which are as followsH


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@ajority of the employees agreed that their performance is getting affected by

absenteeism.

The employees at NGT=%)TD IT vt ltd are well aware of the rules and try to

abide them.

*uring the period of the survey, /L of the employees have abided to the leave

rules and the remaining &(L did not. This may affect the overall performance of

the employees.

@ost of the employees cited health problems, festivals and rituals and the reasons

for their absence.

In NGT=%)TD IT vt ltd, the management is trying to control absenteeism by

issuing memo.

Gmployees feel that double shifts and night shifts also affect their work to some

e!tent.

The management is trying to motivate the employees by rewarding them for

regularity.

SUGGESTIONS

The following ideas have been suggested to reduce the problems of absenteeism in

NGT=%)TD vt ltd.


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@ost of the employees are being absent due to health problems, the management

may take an action to improve the health measures in the organization and

conduct health camps freuently.

Absenteeism is relatively high among low level e!ecutives as compared other

employees. Its remedy can be that the management makes sure that the work load

is divided eually among the employees of same category so that they feel less

stressed out in double and night shifts.

The management may adopt fle!ible time work schedules which may reduce

absenteeism rate to some e!tent.

The management may take an effort to be fair while rewarding the employees,

irrespective of their designation.

The management may provide adeuate leave facilities so that employees can

fulfill their obligation during festivals and rituals.


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BIBLIOGRAP>

BIBILIOGRAP>

Te0t "7s

*esler ary , &22, ; Human Resource Management”, 10t Gdition, earson3

rentice Dall of India, pp, 0B00.


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*r 'ubba )ao , &22, ;Gssentials of Duman )esource @anagement< and

Industrial )elations, &nd Gdition reprint ,Dimalaya ublishing Douse, @umbai,

pp ##1B#(#.

Noe A )aymond, "ohn Dollenbeck, Earry erhart and atrick =right, &220

;Duman )esource @anagement


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ANNEURE

UESTIONNAIRE

I-ENTI.ICATION -ATA

$. NameH

&. AgeH


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9a:$+B&+ years 9b: &B#2 years 9c: #$B(+ 9d: (B2

#. ender H

9a: @ale 9b: 4emale

(. *esignationH

+. *epartment H

. Gducation -ualification H

9a: ''8 9b: Fnder raduation 9c: raduation 9d: ost raduation

/. 'alary 9per month :H

9a: ess than +,222 9b: +22$ to $2,222 9c: $2,22$ to $+222 9d: $+22$ to &2,222

0. Dave you availed any leaves in the last year 9es3 No:. If es, then how many leaves

have you availed last year S

9a: $2 days 9b: $+ days 9c: &2 days 9d: &+ days and above

1. ive reasons for applying leave on some of the following categoriesS

No of leaves taken 9days:

$B # #B+ +B/ /B1 Above

9a: Dealth grounds

9b: Eoredom 3 )epetitive work

9c: roblems with superior


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9d: 4estivals 3 )ituals

9e: Tour 3 @arriage 3 *eath

9f: If any other, lease specify

$2. *o you inform your superior before you take leaveS

9a: Always 9b: 'ometimes 9c: Never

$$. If an employee takes unauthorized leave then what is the action management takesS

9a: Issuing memo 9b: Termination 9c: G!tra working hours 9d: 4ine 3 'alary cut

$&. Dave you ever felt work load has been increased because of your absence S

9a: To a great e!tent 9b: To some e!tent 9c: Not at all

$#. In your absence, does anyone in the department takes changes in completing yourwork S

9a: es 9b: No

$(. If es , then work is taken byS

9a: ourself 9b: Eoss 9c: 4riendship 3 relationship

$+. *o you think that the job dissatisfaction influencing absenteeism S


$. *o you think that double shift or Night shift influencing absenteeismS


$/. *o you feel fle!ible time schedules can reduce absenteeismS

9a: es 9b: No

$0. Are the employees rewarded for the regularity or $22L attendance in yourorganizationS


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9a: es 9b: No

$1. *oes the absenteeism have an impact on your overall performanceS


&2. According to your opinion, what are the main reasons for absenteeism in your

organization S

&$. lease give your suggestions to reduce absenteeism in your organizationS

absenteeism networth

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