Upload
upasanabhatta8181
View
219
Download
0
Embed Size (px)
Citation preview
8/8/2019 Full Project [FK-1628 - Deepesh]
1/48
A report on the study of
OPTIMIZATION OF HUMAN RESOURCES
For
Shrenuj & Co. Ltd
Submitted to the
Department of Management Studies
In partial fulfillment of the
Post Graduate Diploma In Management
Under the Guidance of
MS. RAJESWARI MENON
By
DEEPESH. P.
BATCH 16 FK 1628
SCMS COCHIN
S C M SS C M SS C M S
SCMS CAMPUS, PRATHAP NAGAR, MUTTOM, ALUVA-683 106,
COCHIN
September 2008
8/8/2019 Full Project [FK-1628 - Deepesh]
2/48
DECLARATION
I, the undersigned, hereby declare that this project report entitled Optimizationof Human Resources has been written and submitted under the guidance of
Ms Rajeswari Menon and is my original work.
I understand that detection of any copying is liable to be punished in any way
the school deems fit.
DATE: DEEPESH. P
8/8/2019 Full Project [FK-1628 - Deepesh]
3/48
SCMS COCHIN
SCMS CAMPUS, PRATHAP NAGAR, MUTTOM, ALUVA- 683 106, COCHIN.S C M SS C M SS C M S
CERTIFICATE
This is to certify that the project work entitled Optimization of
Human Resources has been carried out under my guidance by
DEEPESH. P in partial fulfillment of his Post Graduate Diploma in
Management during the academic year 2007 - 2009.
Date: Ms Rajeswari Menon
8/8/2019 Full Project [FK-1628 - Deepesh]
4/48
SCMS COCHIN
SCMS CAMPUS, PRATHAP NAGAR, MUTTOM, ALUVA-683 106, COCHIN.S C M SS C M SS C M S
This is to certify that the project work entitled Optimization of
Human Resources has been carried out by DEEPESH. P in partial
fulfillment of his Post Graduate Diploma in Management.
DATE : Dr. V. Raman Nair
Director
8/8/2019 Full Project [FK-1628 - Deepesh]
5/48
ACKNOWLEDGEMENT
In successfully completing my project report, I am indeed indebted to a largenumber of people who have encouraged and helped me in a variety of ways.
Its indeed a privilege to express my gratitude to the people involved.
I am highly obliged and grateful to SCMS for giving me an opportunity in
undertaking the project.
My profound and sincere thanks to Mr. Vinod More, DGM HR & ADMIN and
Mr. Raghu Menon, Manager- ADMIN, Shrenuj & Co, Mumbai who consented
to be my project advisors. I have paucity of words to express my obeisance
before them for their keen interest, valuable guidance, unflinching judgment
and constant encouragement during the entire course of my study.
I express my sincere thanks to Ms Rajeswari Menon, who provided me with all
her support in this great endeavour.
With limitless humility, I thank my family and friends, who bestowed me with
enough courage to accomplish this treatise.
Last but not the least, I owe my sincere regards to the Almighty for making
me able to believe in myself and letting me utilize my potential to the fullest of
my energy during the entire course of the study.
Deepesh. P
8/8/2019 Full Project [FK-1628 - Deepesh]
6/48
TABLE OF CONTENTS
S. No Title Page No
1 Executive Summary 1 - 2
2 Chapter I- Introduction and theoretical background of
study
3 - 4
3 Chapter II- Research Methodology 5 - 6
4 Chapter III- Industry and Company profile 7 - 11
5 Chapter IV- Analysis and Interpretation 12- 31
6 Chapter V- Findings and Conclusion 32 - 33
7 Chapter VI- Recommendations and Suggestions 34
8 Bibliography 35 - 36
9 Appendix 37
8/8/2019 Full Project [FK-1628 - Deepesh]
7/48
TABLE OF CHARTS AND GRAPHS
S. No Title Page
No
1 Chart no: 1 showing the break up of employee
strength in Shrenuj group.
13
2 Chart no: 2 showing the Labor mix of Shrenuj group. 14
3 Chart no: 3 showing the capacity of each company in
units per month.
15
4 Chart no: 4 showing the enrollment segregation oflabor in Shrenuj group.
16
5 Chart no: 5 showing the grading system in the
company.
23
6 Chart no: 6 showing the minimum and maximum
salary for each grade in various divisions.
28
7 Chart no: 7 & 8 showing the minimum and maximum
salary for each grade in various divisions.
29
8 Chart no: 9 showing the minimum and maximum
salary for each grade in various divisions.
30
9 Table no: 1 & 2 showing the designations and required
skills for various departments.
20
10 Table no: 3 & 4 showing the designations and required
skills for various departments.
21
11 Table no: 5 & 6 showing the designations and required
skills for various departments.
22
12 Table no: 7 showing the sample Job descriptions with
KRA.
26
8/8/2019 Full Project [FK-1628 - Deepesh]
8/48
EXECUTIVE SUMMARY
The project titled Optimization of Human Resource was undertaken for the HR
department of Shrenuj & Co Ltd.
The major objectives of this project comprised of manpower planning, conducting
a job analysis with Key Result Area (KRA), defining wage scale for staff and
preparation of objective performance appraisal system. By implementing these
steps the company could optimize human resources and thereby reap benefits. But
the full scale of the benefits will be realized only in the future.
The major change observed, was that the company has highly competent
employees. The reason for this is due to proper manpower planning that initiated
proper profiles and packages, which was lucrative enough to attract the best talent.
It was also noted that the company had rightly expected growth which helped to
establish a new factory with all modern facilities in the month of August 2008
inside SEEPZ. The preparation of a job specification and job description helped to
establish an easier recruitment process which ensured that the right person is
employed at the right place and at the right time. It was observed that there was a
huge disparity in the wage scale for each designation therefore, the whole system
was revised to reduce the attrition level.
Based on the findings of the study the researcher puts forward certain suggestions.
The Company has a practice of hiring contract labors instead of permanentemployees. But, if the company adopts a policy where in the employees are made
permanent and encourage them for taking up higher studies which would enhance
their skill level and lead to a higher performance. The job description could be
done at least twice in a year and needs to be effectively communicated to the
8/8/2019 Full Project [FK-1628 - Deepesh]
9/48
employees so that they are well updated and know exactly the things that are
expected out of them while on the job.
The research was descriptive in nature. Much of the data was sourced primarily
secondary sources like the companys database. Additional information was
collected through formal and informal discussions with supervisors, assistant
managers, managers etc.
In conclusion, the study helped to realize that optimization of resources is very
much important for companies to ensure competitive advantage over others in this
present era.
8/8/2019 Full Project [FK-1628 - Deepesh]
10/48
CHAPTER I
Introduction and theoretical background of the study
Gone are those days when the Human Resources Department was considered as
the smiling and filing department. Now it is one of the most important department
of any organization. It is very easy for anyone to practice the hire and fire policy.
However, in the present era organizations are trying to retain the employees by
giving them adequate training which would enhance their skills. The Human
Resources Department has the responsibility of dealing with and overseeing the
most important, complex and valuable resources of the company- the employees.
Todays Human Resource Department in any organization is trying out various
strategies to make their employees happy, and this comes with a huge cost. But,
should any company be doing anything less for the companies most important
asset? The current scenario that one sees is that to keep their employees engaged
and more dedicated, a company must provide for more. Thus, employees nowdemand for more and unfortunately, companies dont have enough resources to
keep their people happy.
In industry after industry the traditionally powerful centers are making way for
younger, more enterprising players, who, using a potent mix of lower cost and
comparable, if not higher skills, are coming to the fore. India is one of the leaders
of this new breed of players, and there is every indication that the Asian giant is
finally awakening to its full potential.
The Diamond industry is set to grow at a rate of 40 % by 2010. The Indian Gem
and Jewellery Industry have witnessed a growth of 22.27% amounting to total
exports of US $ 20.8 billion in the year 2007-2008. The Gem and Jewellery sector
8/8/2019 Full Project [FK-1628 - Deepesh]
11/48
accounted for 13.1% of Indias total merchandise exports. Majority of the
diamond factories are concentrated in Mumbai and Surat. In Mumbai, the diamond
factories are located inside the SEEPZ. There are more than 120 factories inside
SEEPZ which are engaged in the export of diamond jewellery. And also with theemergence of China as a major manufacturer of gem and jewellery India is feeling
the pressure. Diamond exporters fear that China would dent the Indian diamond
industry's prospects in the long term. Cheap labor, better infrastructure, usage of
advanced technology and business friendly policies give china a upper hand over
India in the present scenario. Today due to the cutthroat competition and global
recession, the firms are finding it difficult to survive in the market. Already many
companies have shut down their units. The only thing they can do is to use the
existing resources efficiently and effectively. Out of it Human Resources is the
most important component. So Shrenuj & Co. Ltd concentrated on optimizing the
Human Resource. By doing so they can optimize the cost of production and
sustain in the global market. By conducting proper Manpower planning, Job
analysis and Performance Appraisal system they aim to optimize the human
resource.
8/8/2019 Full Project [FK-1628 - Deepesh]
12/48
CHAPTER II
RESEARCH METHODOLOGY
Rationale of the Project
The Diamond industry is set to grow at a rate of around 40% per annum by
2010.But at the same time due to cut throat competition and the global economic
recession the firms are finding it to increase their bottom line. So in order toachieve it they are concentrating more on optimizing the Human resource. By
doing so they can reduce the cost of production and sustain in the global market.
Objectives of the Study
To assess the current manpower planning, and the skill setpossessed by workers to achieve Optimum utilization of the
capacity and manpower to be hired.
To Conducting Job Analysis exercise with Key Result
Area(KRA) comprising of, crystallizing the organigram,
Defining job specification for each position and respective job
description for every staff.
To define wage scale for staff by keeping in mind the cost to the
company.
To prepare an Objective Performance Appraisal System (PAS)
inorder to assess the performance of the employees without any
bias.
8/8/2019 Full Project [FK-1628 - Deepesh]
13/48
Type of Research
The type of research adopted for the project was primarily Descriptive in
nature.
Data Collection Method
The data collected was mainly from secondary sources like the company
database and useful websites. This was analyzed with the help of MS-Excel.
Other data collection methods were formal and informal discussions with
managers, assistant managers and HODs.
Data Analysis
The data so collected was transferred into an MS Excel sheets and analyzed. It
helped to bring out proper charts and graphs which gave a better view on the
results achieved from the study.
Limitations of the Study
The project was conducted and supervised by the DGM HR and technical
managers. The decisions on the entire project work were taken by them and
researchers duty was to assess them in conducting the entire activity.
8/8/2019 Full Project [FK-1628 - Deepesh]
14/48
CHAPTER III
INDUSTRY AND COMPANY PROFILES
DIAMOND INDUSTRY
The Diamond industry has witnessed incredible growth in India in the last few
years, lifting hundreds of thousands of people out of rural poverty into
employment.By the mid 1990s, India had emerged as the largest cutting centre inthe world, doing more than 50 per cent of the total value of polished diamonds
worldwide and 90 per cent of the volume. The massive industry employedover amillion people, over 90 per cent of the worlds workforce in the diamond industry.
Over the last five years, the development of the jewellery industry has really
accelerated both in terms of quality of the product and the expansion in terms of
sheer size. The Special Economic Zone, SEEPZ in Mumbai, in which the modern
jewellery industry first took root, is now the worlds largest single concentration
of jewellery manufacturing units-over 120 factories employing an estimated
35,000 people. Similarly in Surat there are more nearly 1000 small units which
gives employment to nearly 8 to 10 lakh people. Surat is known as the Diamond
hub of India.
The knowledge and expertise of the diamond industry's highly skilled workforce
has made India one of the key contributors to the growth of diamond jewelry
worldwide. High Tech systems like Vacuum pressure casting machines, laser
marking systems, automatic state of art refining plants, automatic modular
cleaning systems, disc and drag finishers, even continuous casting or diffusion
welding machines are being extensively used which have changed the face of the
8/8/2019 Full Project [FK-1628 - Deepesh]
15/48
Indian Diamond Industry. Finally, after this arduous process, the finished pieces
are eventually sold at fancy shops on Fifth Avenue and Bond Street. India is fast
moving towards its next stage of development. There is an indication that the
country is poised for yet another qualitative leap. Today the country, with its hugepolishing industry, a well developed international marketing network, and a strong
financial system is well set to emerge as a trading centre as well.
India a country with a million diamond workers and an 80% share of the diamond
polishing industry are facing tough competition from the dragons-China. Yet India
is on the defensive and expects to lose share. Antwerp, which still specializes in
polishing larger diamonds, also expects to lose share to China.
INTRODUCTION TO SHRENUJ & COMPANY
Shrenuj & Company Limited, a 1100 crore plus company is an integrated gem and
jewellery conglomerate having presence across 13 countries with activities
ranging from diamond processing, jewellery manufacturing to branding and
retailing. It employs over 2,500 people in its worldwide operations. Shrenuj
Group's state of the art diamond manufacturing facilities in India and Israel
specialize in processing better quality high value diamonds in larger sizes, a
traditional non-Indian product and one of Shrenuj's key differentiators. Shrenuj
also processes smaller diamonds, regular Indian products, in its other units.
The company exports diamonds and precious stones to many international
markets, mainly Japan, the US, France, Belgium, Hong Kong, New Zealand and
Germany. The company derives more than 80 per cent of its revenues from
Polished Diamonds while Studded Jewellery contributes the rest balance. The
jewellery division of Shrenuj is located at SEEPZ (Mumbai) and adheres to one of
the most stringent international standards. It has a production capacity of
8/8/2019 Full Project [FK-1628 - Deepesh]
16/48
approximately 45000 units per month and is equipped with state of the art
machinery.
The origin of Shrenuj dates back nearly a century when the Late Mr. Kalidas S.Doshi started a broking firm trading in diamonds in 1906. In 1943, the company
commenced exporting polished diamonds sourced from local polishing units. By
1956, the firm started sourcing rough diamonds in the international markets and
processed them in India for exports.
The firm was converted into a corporate body in 1982 and became sight holder of
Diamond Trading Corporation (DTC), the trading arm of DeBeers. In 1992, the
company set up an ultra-modern diamond and precious stone studded jewellery
unit in Mumbai exclusively catering to its overseas clientele. A second unit
followed this in 1995. The jewellery facilities manufacture studded ornaments in
both gold and platinum. In 2002, Shrenuj set up a fully integrated diamond
polishing and diamond studded jewellery facility in the diamond district of
Mumbai, India. In recognition of its achievement in exports, Shrenuj has received
several awards from the Government of India. The jewellery division has won the
De Beers India jewellery design contest for the best design, the Indian National
Design Contest and the prestigious Diamonds International Award organized by
DeBeers for the best jewellery designed. Shrenuj has always pioneered in
introducing various systems and procedures in an effort to bring about efficiency
and transparency in dealing with its internal as well as external customers.
In 2003, Shrenuj entered jewellery retailing through its acquisition of DailyJewellery in Hong Kong. The discount retail chain was re-positioned as fashion
jewellery chain under the brand Joliesse. The chain presently has 12 stand-alone
shops in Hong Kong and is slated to make an entry in mainland China by the end
of 2008 by opening a store in Shanghai. In China, company will adopt dual model
of shop in shop and stand-alone stores.
8/8/2019 Full Project [FK-1628 - Deepesh]
17/48
In addition, Shrenuj has a brand portfolio comprising of leading brands such as
Sveni, Bhavya, Arisia (co-owned), Fiana, Valina, Caro74, MasterCut, Scintilla66
and Amante88. These brands are retailed through exclusive arrangement with
independent retailers in nine countries.
Shrenuj's international distribution model compliments its international
manufacturing platform. Based on hub-and-satellite approach (logistical hubs
located in key trading centers and satellites operating in the consumption markets),
its 15 offices cater to almost all corners of the world. The company has entered
into JVs in Israel, France, USA and Hong Kong, in addition to its own offices
worldwide.
Shrenuj's jewellery manufacturing operations are located in India, in addition to
dedicated outsourcing facilities in China, controlled by a strong outsourcing and
quality assurance office in Hong Kong. The product development team of
designers and merchandisers is spread across the globe, to cater to national as well
as international markets to quickly respond to the changes in fashion trends.
Shrenuj is a recipient of many national and international jewellery awards.
In addition, Shrenuj is a leading participant in DTC's Forevermark Programme in
Japan and India one of the authorized manufacturers of Platinum Guild
International. These brands are managed independently by Shrenuj's own
marketing teams in each country, backed by a strong downstream distribution
worldwide.
Shrenuj & Company acquired the 80-year-old, US-based Simon Golub & Sons,one of the top five US jewellery distributors. The deal, valued at USD 22.7
million, for acquiring 84.6% stake comes close on the heels of Shrenuj expanding
its footprint across USA.
8/8/2019 Full Project [FK-1628 - Deepesh]
18/48
The Mumbai-based diamond company Shrenuj & Company acquired `Arisia
Solitaire` brand from the UK-based Diamond Trade Corporation (DTC) for an
undisclosed amount. Currently, Arisia is the leading brand in expensive solitaires
segment in India. Arisia is a premium brand and is sold at an average price of Rs350,000. With the acquisition, Shrenuj plans to launch high-end designer watches,
bags and other accessories in the global market under Arisia brand.
It provides all kinds of diamond jewellery like pendants, rings, bracelet, and
earring. It also uses other precious stones like Ruby, Emerald, and Sapphire etc.
The major foreign clients for Shrenuj are:
Zales diamonds
Helzberg diamonds
Gordons Jewellers
Friedmans Jewellers
Ultra diamonds etc
Shrenuj has four companies inside SEEPZ. Each company caters to different
clients of different regions. For example Kiara caters to the needs of French
clients. Similarly Moon caters to the needs of US clients. This style is followed
because each region has different tastes. US clients go for low quality diamonds
but they come up with a vide range of designs. Whereas European clients go for
high quality diamonds with complex designs. So Shrenuj deided to follow a
method where each company can specialize on a particular group of clients.
8/8/2019 Full Project [FK-1628 - Deepesh]
19/48
CHAPTER IV
ANALYSIS AND INTERPRETATION
The project intends to Optimize the Human resources of Shrenuj & Co Ltd in
order to achieve an effective system. This ensures better performance of the
employees. Human resources are the most precious resources of an enterprise.
Human Resources Optimization (HRO) involves employee allocation and
timetabling, to ensure the efficient management of the personnel, conforming to
various social regulations and labor contracts. Thus, optimum utilization of the
existing human resource is the main objective of any company
8/8/2019 Full Project [FK-1628 - Deepesh]
20/48
1. Manpower Planning
Before we depart for a journey it is necessary to know our destination. In short
Manpower planning (MPP) determines where we are, where we want to go and
how we are going to get there. MPP is an integral part of corporate planning.
Employee strength
Shrenuj, 278
Moon, 260
SDL, 292
Kiara, 108
Shrenuj
Moon
SDL
Kiara
Chart no: 1 Shows the break up of employee strength in the Shrenuj group
In the above chart the present manpower of group companies are shown. Kiaras
employee strength is only 108. This is because Kiara is a company which caters to
the needs of a french client. So the demand is low because only limited orders will
be there. But at the same time all other companies are having high employee
strength. The main reason for this is that they cater to the demands of clients in US
and Europe. They come up with wide variety of designs and they will have bulk
orders.
8/8/2019 Full Project [FK-1628 - Deepesh]
21/48
Labour Mix of Shrenuj Group
0
10
20
30
40
50
60
70
80
90
100
Shrenuj Moon SDL Kiara
Highly Skilled
Skilled & Unskilled
Chart no: 2 shows the Labor mix of Shrenuj group
The chart shows the Labor mix employed at Shrenuj group. The highly skilled
consists of the exceptionally talented workers who engage in designing and
setting. Whereas the skilled and unskilled consists of polishers, filers etc. From
this we can infer that the firms are having more of highly skilled labor when
compared to skilled and unskilled labor. The percentage of highly skilled labor is
high in Shrenuj group because the company deals with the production of high
quality jewellery products like diamond, platinum and gold. The company cannot
compromise on the quality of the products because all the products are exported to
the foreign clients. This needs very high expertise.
8/8/2019 Full Project [FK-1628 - Deepesh]
22/48
0 2000 4000 6000 8000 10000 12000 14000 16000
Shrenuj
Moon
SDL
Kiara
Capacity in units per month
Capacity in units per month
Chart no: 3 Shows the capacity of each company in units per month
In the above chart production capacity is shown. Here Kiara is having the lowest
capacity because it is only catering to the needs of the French client. But at the
same time SDL is having a production capacity of 15000 units per month mainly
due to the fact that it needs to meet the demand / order from the European
clients.Mmoon and Shrenuj is having 13000 units each as it cater to the US clients.
In all these companies technology is at its best.
8/8/2019 Full Project [FK-1628 - Deepesh]
23/48
210
37
38
70
95
185
198
26
0
50
100
150
200
250
300
Moon Kiara SDL Shrenuj
payroll Contract
Chart no: 4 Shows the enrollment segregation of labor in Shrenuj group.
In the above chart the company wise breakup of contract and payroll employees
are shown. It can be noted that in Moon and Shrenuj the percentage of payroll
employees are very high because these two companies were set up in the 1990s,
so the experience that they gained added them on to the payroll. In these
companies the average experience of the employees is nearly ten years. Whereas
in the case of Kiara and SDL the percentage of payroll employees is very low due
to the fact that these companies were established after 2000. Maintenance of
contract employees helps to practice the hire and fire policy effortlessly.
8/8/2019 Full Project [FK-1628 - Deepesh]
24/48
Therefore, after conducting manpower planning, it has been noticed that in each
department, vacant seats are found out by finding the difference between the
available seats and the number of people employed. Depending upon the future
requirements the seats are filled up. The diamond industry is very seasonal innature and the demand increases only during festive seasons. Due to this the
prediction of the business is limited to a certain extend. Now Shrenuj is expected
to grow at a steady pace of 20 30 % per annum because they are having well
established retail outlets in US, UK and Hong Kong. The company has also
devised a plan to set up shops in the major metros in India. They expect to perform
well in the coming years and in the previous month, they have set up a new state
of art factory inside seepz,
To improve the quality of the employees in the future, the company is planning to
re-engineer the recruiting process. Here, the entire process is being reviewed for
effective results. This includes looking out for alternate resources, linking job
specification with employee profile and linking wage scale with salary
expectations.
8/8/2019 Full Project [FK-1628 - Deepesh]
25/48
2. Conducting job analysis exercise with KRA
Job specification is a process that qualifies the major requirements in a job
incumbent for the effective performance of the job. This process helps to
understand the qualities needed for employees; to provide optimum work
performance. Thus, this a systematic process of gathering documenting and
analyzing data about the work required for the job. This comprises of job
description, principle duties, information about skills and responsibilities and
models and techniques. It provides an objective picture of the job and not the
person.
Various contents of a job specification can be prescribed in three terms:
(1)Essential qualities which a person must possess
(2) Professional qualities that the person must possess
(3) Years of experience required
If you look at the content of a job specification, you will find that various qualities
that a job incumbent should possess may be divided into two broad categories:
technical qualities and behavioral qualities. Technical qualities consist of
knowledge and skills related to how a job should be performed. Knowledge
refers to the possession of information, facts, and techniques of a particular job.
8/8/2019 Full Project [FK-1628 - Deepesh]
26/48
Skills refer to the proficiency required to use the knowledge to perform the job.
Generally technical qualities are job specific, that is, technical qualities, which are
relevant to a particular job, will not be relevant to another job if both jobs differ
significantly. Behavioral qualities are not job-specific but are of universal natureand are applicable in most of the jobs.
Thus, a basic structure of the important designations of each department was
initialized to set a systematic guideline for managers to help in understanding the
requirement of the firm. This specifies the basic knowledge skill and qualities that
the employees must have.
8/8/2019 Full Project [FK-1628 - Deepesh]
27/48
Designations Remarks
AVP/ VPSound knowledge on the Operations and Productionprocess, knowhow of Emperor
DGM/AGM/ GM
Overall knowledge on Operations and Productionprocess, knowhow of Emperor
MANAGEROverall knowledge on Operations and Productionprocess, knowhow of Emperor
Asst.MANAGER
Overall knowledge on Operations and Productionprocess, knowhow of Emperor
Sr.OFFICER
Overall knowledge on Operations and Productionprocess, knowhow of Emperor
ASSISTANTComputer knowledge, Typing- 30 WPM, knowhow ofemperor
Table no: 1 Shows the designations and required skills for the production
department.
Designations Remarks
AVP/ VPKnowledge on latest HR and Admin Practices,knowhow of Spine software
DGM/ AGM/GM
Knowledge on latest HR and Admin Practices,knowhow of Spine software
MANAGERKnowledge on latest HR and Admin Practices,knowhow of Spine software
Asst.MANAGER Knowhow of Spine software
Sr. OFFICER Knowhow of Spine softwareASSISTANT Typing Marathi, Hindi and English
Table no: 2 Shows the designations and the required skills for the HR and
Administration department.
8/8/2019 Full Project [FK-1628 - Deepesh]
28/48
Designations Remarks
AVP/ VP
Sound knowledge about the accounting and export
import practices inside SEEPZDGM/ AGM/GM
Knowledge about accounting and export importpractices, knowhow of Tally& ERP
MANAGERKnowledge about accounting and export importpractices, knowhow of Tally& ERP
Asst.MANAGER
Knowledge about accounting and export importpractices, knowhow of Tally& ERP
Sr. OFFICERKnowledge about accounting and export importpractices, knowhow of Tally& ERP
ASSISTANT Tally and ERP
Table no: 3 Shows the designations and the required skills for the Accounts
and Exim
Designations Remarks
AVP/ VPSound knowledge about the industry, Goodcommunication skills(written and verbal)
DGM/ AGM/GM
Sound knowledge about the industry, Goodcommunication skills(written and verbal)
MANAGERGood communication skills(writtenand verbal),knowhow of EMPEROR software
Asst.MANAGER
Good communication skills(writtenand verbal),knowhow of EMPEROR software
Sr. OFFICERGood communication skills(writtenand verbal),knowhow of EMPEROR software
ASSISTANT Typing, Computer skills, Accounting
Table no: 4 Shows the designations and the required skills for the Sales and
Marketing.
8/8/2019 Full Project [FK-1628 - Deepesh]
29/48
Designations Remarks
AVP/ VP
Sound knowledge about the industry, knowhow
of ideas, rhino, jewel CAD
DGM/ AGM/ GMSound knowledge about the industry, knowhowof ideas, rhino, jewel CAD
MANAGER Know-how of ideas, rhino, jewel CAD
Asst. MANAGER Know-how of ideas, rhino, jewel CAD
Sr. DESIGNER Know-how of ideas, rhino, jewel CAD
ASSISTANT Typing
Table no: 5 Shows the designations and the required skills for the Product
Development / Designing / CAD
Designations Experience
AVP/ VP Minimum 10 years in the industry
DGM/ AGM/ GM Minimum 10 years in the industryMANAGER Minimum 6 years in the industryAsst. MANAGER Minimum 3 years in the indusrtySr. DESIGNER Minimum 2 years in the industryASSISTANT Minimum 0-1 year
Table no: 6 depicts the required experience for each position. This ensures
finding the correct people for each position.
Thus, the job specification process helped to formulate a systematic table of the
designations, qualifications, skill, experience etc required for in every department.
This gives a proper guideline for the company to follow while recruiting the
required amount of employees.
8/8/2019 Full Project [FK-1628 - Deepesh]
30/48
8/8/2019 Full Project [FK-1628 - Deepesh]
31/48
The graph basically depicts the structure of the designations ranked according to
the positions held in the organization. That means from the top level to the bottom
level. This helps to maintain a proper job grade of the positions held by theemployees in the organization.
8/8/2019 Full Project [FK-1628 - Deepesh]
32/48
Job Description
Job description is a written statement showing job title, tasks, duties and
responsibilities involved in a job. It also prescribes the working conditions,
hazards, stress and relationship with other jobs.
Thus, a job description contains the following information:
1. Job title, code number, and department / division.
2. Job contents in terms of activities or tasks performed.
3. Job responsibilities towards effective performance of the job.
4. Working conditions specifying specific hazards/stress.
5. Social environment prevailing at the workplace.
6. Extent of supervision given and received.
7. Relationship with other jobs-vertical, horizontal, and diagonal.
In order to make the job analysis more effective, job description is made for each
staff in the organization by linking it with Key Result Areas (KRA). A basic
structure for job description was compiled to implement the above mentioned
plan. (Annexure)The vital part of a job description is the KRA which describes the
important duties that a staff must perform. Thus, this procedure helps in giving
proper understanding of the job to be performed by the staff.
After observing the work culture of the organization the Job Description were
made for each designation.
8/8/2019 Full Project [FK-1628 - Deepesh]
33/48
DEPARTMENT DESIGNATION REPORTING
OFFICER
KRA
Production Manager GM-Operations Planning and executionof orders.
Quality Management
Inventory management
Cos t control measures
Effective
communication
Human Resources Manager GM-
HR&Admin
Recruitment
Retention
Training &
Development
Organizational
Development
Effective
Communication
Administration Manager GM- HR &
Admin
Asset & Infrastructure
Management
General Administration
Housekeeping
Vehicle Management
Liasioning
Effective
Communication
Table no:7 Shows the sample Job descriptions with KRA
8/8/2019 Full Project [FK-1628 - Deepesh]
34/48
From the above Job description it is very clear that what an HR or Administration
Manager should do. In addition to this the responsibilities under KRA are alsomentioned in the Job description. By mentioning this it is very easy to analyze
each ones performance based on these functions or responsibilities.
8/8/2019 Full Project [FK-1628 - Deepesh]
35/48
Wage scale
Wages form the prime part of motivating your employees. It is the best means bywhich you can retain your employees. There is a proper scale pertaining to each
department of the company. It is necessary for each firm to fix a minimum and
maximum scale for each grade. There should not be a disparity in the income
provided.
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
M2 M3 M4 M5 M6 M7
Grade
S
alary
Min Max
Chart no: 6 Shows the minimum and maximum salary for each grade in the
Diamond Division.
8/8/2019 Full Project [FK-1628 - Deepesh]
36/48
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
M2 M3 M4 M5 M6 M7
Grade
Sala
ry
Min Max
Chart no: 7 Shows the minimum and maximum salary for each grade in the
Operations division.
0
200000
400000
600000
800000
1000000
1200000
1400000
1600000
1800000
2000000
M3 M4 M5 M6
Grade
Salary
Min Max
Chart no: 8 shows the minimum and maximum salary for each grade in Sales
& Marketing division.
8/8/2019 Full Project [FK-1628 - Deepesh]
37/48
0
200000
400000
600000
800000
1000000
1200000
1400000
M2 M3 M4 M5 M6 M7
Grade
S
alary
Min Max
Chart no: 9 shows the minimum and maximum salary for each grade in the
Shared Services division.
The above four charts show the prevalent wage scales for the grades in each
division of the company. From the chart we can analyze that there is a wide gap
between the minimum and maximum scale for each grade in a division. The
salaries are given to the performers and not for the employees who are highly
experienced.
8/8/2019 Full Project [FK-1628 - Deepesh]
38/48
Performance Appraisal
Performance appraisals are widely used in the society. The history of performance
appraisal can be dated back to the 20th century and then to the second world warwhen the merit rating was used for the first time. An employer evaluating their
employees is a very old concept. Performance appraisals are an indispensable part
of performance measurement.
In order to have a proper non biased Performance Appraisal System(PAS) we
should have a classification of assessing performance of the employee in to
objective & subjective performance appraisal from. Here both the appraiser and
appraisee need to fill the form. (Annexure)
By analyzing the PAS the HR is able to find out the skills of the employee, how he
is performing etc. Thus the company will be able to identify what he is lacking and
what should be done in order to improve his performance.
8/8/2019 Full Project [FK-1628 - Deepesh]
39/48
CHAPTER V
FINDINGS & CONCLUSION
The project, which covered the objectives namely Man Power Planning,
Conducting Job Analysis, Defining wage scale and objective performance
appraisal system would help in optimizing the Human Resources of the
organization. The results of these steps will not be seen in a short span of time, it
is a process which would take a long time to reap its benefits. Now as such the
company is not experiencing the benefits of the policies adopted by the company.
The changes can only be seen in the way the company functions.
The major change is that the company is now having employees who are
satisfied with their profile and package. Earlier employees used to have the
same profile but regarding the salary certain negotiations were made. But
now its not prevalent because in the initial stages of recruitment itself the
company will only select those candidates whose profile and expectation is
closely matching with the company requirements.
The Production reports are prepared every day and from this the company
is able to find out the daily production units. So if there is any shortfall in
the production the company can prepare alternate adjustments like extra
working hours, Arrangement of contract employees, Outsourcing the work
to sister concerns. This can be applied in the case of increase in order. The
company had rightly expected the growth and because of this a new factory
with all modern facilities was functional in the month of August 2008.
8/8/2019 Full Project [FK-1628 - Deepesh]
40/48
The preparation of job specification and job description helped in finding
out what the are the companies requirement from the employees. It helped
in making the recruitment process easy and it ensures that the right personis employed at the right place at the right time. The company also enquired
about the candidates performance in the previous company. By doing this
they can make sure that whether the candidate suits for the position.
Wage is the most attractive tool for motivating the employees. But at the
same time a company will try to get t he most from an employee at a wage
that is feasible for the them. In Shrenuj the package is very low and this is
the main reason for high attrition rate.
8/8/2019 Full Project [FK-1628 - Deepesh]
41/48
CHAPTER VI
SUGGESTIONS & RECOMMENDATIONS
The Company has a practice of hiring contract labors instead of permanent
employees. It would be better if the company adopt a policy where in the
employees are made permanent. The problem with the present system is
that the employees know that their job is not assured and they can be fired
with notice.
The job description could be done atleast twice in a year due to the fact that
the roles and tasks which are performed is very dynamic in nature in the
present era.
The Job description needs to be effectively communicated to the employees
so that they are well updated and know exactly the things that are expected
out of them while on the job. This could also avoid confusions regarding
the job requirements which makes it transparent.
The company can encourage the workers for taking up higher studies which
would enhance their skill level and lead to a higher performance. But the
company should make sure that the employee should stay in the company
after the completion of the course.
8/8/2019 Full Project [FK-1628 - Deepesh]
42/48
BIBLIOGRAPHY
Books referred
1. Cascio, Wayne F. Managing Human Resources, 7th edition New Delhi:
Tata Mc Graw Hill, 2006.
2. Fisher, Cynthia D. Human Resource Management, 5th
edition New
Delhi:Biztantra, 2004.
Websites Referred
1. Shrenuj Co Ltd, Mumbai (official website) 20 June 2008.
2. Shrenuj Newsletter. 25 June 2008.
3. Gem and Jewellery Export Promotion Council (official website). 13 July
2008.
4. Manpower Planning. 20 July 2008.
http://www.shrenuj.com/http://www.moneycontrol.com/http://www.citehr.com/http://www.citehr.com/http://www.moneycontrol.com/http://www.shrenuj.com/8/8/2019 Full Project [FK-1628 - Deepesh]
43/48
5.
Browsed on 23 July 2008.
.
.
http://www.superjobsonline/interview/job%20description/job%20specification%20.comhttp://www.superjobsonline/interview/job%20description/job%20specification%20.com8/8/2019 Full Project [FK-1628 - Deepesh]
44/48
Annexure 1 JOB DESCRIPTION SHRENUJ
DESIGNATION : MANAGER - ADMINISTRATIONGRADE :
DEPARTMENT :ADMINISTRATION
REPORTING TO: GM HR & ADMIN DEFINING BODY : HRD
Key Result Areas Key ResponsibilitiesAsset & InfrastructureManagement
Responsible for proper upkeeping of assets and infrastructure of organization. Development of vendor for office automation. Carry out Cost Benefit Analysis during decision making. Negotiate with various parties for selling of scrap in coordination with GM HR & Admin. Responsible for proper installation, monitoring and renewal of AMC for office equipments.
GeneralAdministration
Responsible for making necessary arrangements for various events like fairs, exhibitions,conference, etc.
Responsible for making necessary arrangements for guests and customer visits (pick up,gate passes, food etc).
To coordinate with authorized agencies and make necessary arrangements for businesstours of employees.
e Action with QC and Production to ensure that the same problem does not reoccur.
Housekeeping Responsible for overall cleanliness and general housekeeping of all the units. Monitoring the contract terms, renewal dates and bill approvals of housekeeping agencies
Vehicle Management Purchase and maintenance of company vehicles. Arrangement of vehicles on hire. Monitor fuel consumption of company vehicles. Responsible for renewal of insurance policy, PUC etc.
Liaisoning
Liaisoning with government authorities like SEEPZ, BMC, MIDC, MPCB, RTO, FireDepartment for renewal and obtaining permits and licenses for existing units and newprojects.
Periodic liaisoning with GJMA and GJEPC.
EffectiveCommunication
Timely reporting to the GM HR and Admin for negotiation of contracts and purchases. Coordinate with employees going on business tours for compliance of legal formalities. Proper and timely reporting to superior. Any untoward act/incident which is against the companys interest is to be reported
immediately to higher authorities.
Discipline
To maintain discipline and strictly adhere to Code of Conduct laid down by management.
AUTHORIZED TO
Negotiate on terms and conditions with vendors and service providers. Make need based international calls. Endorse cash vouchers. Counsel and warn verbally the non-performers. Approval material requisition (required by their departments). Endorse manpower requisition. Approve leave to employees reporting.
REPORTING FROM
Officer Administration
8/8/2019 Full Project [FK-1628 - Deepesh]
45/48
Annexure 2 EMPLOYEE ASSESSMENT FORM
APPRISEE (AP E)Name :
Designation :
Department :
APPRAISER (APR)Name :
Designation :
Department :
RATING SCALE
Excellent . Very Good Good SatisfactoryUnsatisf
ory
(10) (7) (5) (3) (1)Sr.No. Rating Scale
(Score)
APE APR APE APR APE APR APE APR APE
Business Understanding
1. Understanding diamond and jewelleryindustry.
2. Understanding competitors3. Understanding factors affecting business.4. Contribution to Business Vision5. Focus on adding value to customers6. Focus on adding value to shareholders
Role / Functional Competences
7. Job Knowledge for Role performing8. Job knowledge Superior to Subordinate9. Awareness about best practices in the
industry
8/8/2019 Full Project [FK-1628 - Deepesh]
46/48
Annexure 2 EMPLOYEE ASSESSMENT FORM
10. Aligning functions and goals withcompany goals
Commercial Competences
11. Focus on Profitability12. Estimation and forecasting ability13. Negotiation Skills14. Guidance for Cost Control
Perform ance Orientation
15. Setting goals through interaction16. Utilization of Resource / Assets17. Result Orientation18. Timely Decision Making19. Problem Solving Ability20. Appreciation for work done
Team Or ientation
21. Clarifying mutual expectations22. Project Implementation23. Assembling Required Competences24. Supporting Colleagues25. Responding to Colleagues expectations26. Building Acceptance among team
members.
Leadership Behavior
27. Treatment to colleagues28. Inspiring team towards achieving
company goals
8/8/2019 Full Project [FK-1628 - Deepesh]
47/48
Annexure 2 EMPLOYEE ASSESSMENT FORM
29. Understanding colleagues30. Power sharing31. Setting personal example32. Managing Conflict of Members
People Developme nt
33. Encouragement for learning new ideasand methods
34. Guiding and Coaching direct reports35. Promoting Peer learning36. Upholding dignity of relationship37. Openness for criticism / feedback from
others
38. Freedom for subordinates for operateManagement Competence
39. Managing Change40. Encouragement for absorption of new
technologies
41. Choosing right focus for ChangeManagement
42. Being Consulted with industry circle43. Being Consulted with Government Bodies44. Generation of support within organization45. Generation of support outside of the
organization
W ork Ha bits
46. Work Planning47. Openness for learning48. Risk Taking
8/8/2019 Full Project [FK-1628 - Deepesh]
48/48
Annexure 2 EMPLOYEE ASSESSMENT FORM
49. Time management50. Meeting Management
TOTAL
GRAND TOTAL
Any Achievem ent : Appraiser:Appraisee:
If in Probation Period:Confirm / Extend Probation Period
Appraisee AppraDate: Date:
Signature: Signature:
Comm ents by H.R.