CHAPTER I - INTRODUCTION

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 INTRODUCTION

The term absenteeism for the first time was defined by the labor bureau, simla
in a circular of the of the department , Government of India starting “Total man shifts
lost because of absence as a percentage of the total number of man shifts schedule to
work.”

Absenteeism is a serious workplace problem and an expensive occurrence for

both employers and employees seemingly unpredictable in nature. A satisfactory level
of attendance by employees at work is necessary to allow the achievement of objectives
and targets by a department. Employee Absenteeism is the absence of an employee
from work. It is a major problem faced by almost all employers of today. Employees
are absent from work and thus the work suffers. Absenteeism of employees from work
leads to back logs, piling of work and thus work delay

Absenteeism has been defined by various authorities. According to

WEBSTORS DICTIONARY – “Absenteeism is the practice of habit of being an
“absence” is one who habitually stays away “.

“In other words it signifies the absence of an employee from work when he is
schedule to be at work”, it is unauthorized, unexplained and willful absence from work.

One of the most significant factors: Determining the productivity and

advancement of industries lies in the efficiency and experience of workers. Includes the
role of workers in terms of their responsibility towards industrial production. But
attainment of such objective is not possible so long as the extent of absenteeism and
labor turn over is not reduced infact absenteeism is the main obstacle in advancement o
industries.

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 NEED OF THE STUDY

The success of any service industry depends largely on the workers, the
employees are considered as the backbone of any company.

The study aims at the causes of absenteeism of employees in Investleaf

Management Solutions Pvt. Ltd. At present, organizations in India take real interest in
controlling absenteeism. Measures to prevent strikes and lockouts have received far and
greater attention. One reason for this situation may be that strikes and lockouts are more
noisy and visible while absenteeism is silent and unnoticeable.

The relevance of the study is that, now the company is facing a major issue of high
rate of absenteeism and hope that the study will reveal the reason for it and thereby the
organization can take effective measures for checking the absenteeism.

 The study is on employee absenteeism in Investleaf Management Solutions Pvt.

Ltd.

 This study can be helpful to the management to improve its core weaknesses by
the suggestions and recommendations prescribed in the project.

 The need of this study can be recognized when the result of the related study
need suggestions and recommendations to the similar situation.

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 OBJECTIVES OF THE STUDY

The main objective of the study is to find the various studies on absenteeism of
man hour and suggestion to reduce absenteeism.

This study is undertaken to analyze and reduce employee absenteeism in

Investleaf Management Solutions Pvt. Ltd.

Objectives

 To analyze the master attendance and to find the rate of absenteeism.

 To improve the production level by reducing absenteeism.

 To find the reason for major absenteeism in particular department.

 To suggest controlling tools to reduce absenteeism.

 To find out the reason for avoidable and unavoidable absenteeism.

 To know the types of facilities and welfare activities for the employees benefit.

SCOPE OF THE STUDY

The study involves analyzing the employee absenteeism in Investleaf Management

Solutions Pvt. Ltd. The scope of the study is limited to the information gathered from
the company only.

 The study is carried out by taking the feedback of HR and employees of

Investleaf Management Solutions

 The employee absenteeism study is carried out in Dilshuknagar office of

Investleaf Management Solutions in Hyderabad

 The survey and secondary research conducted will provide the details about the
absenteeism in the company with regard to the employees

 This study is aimed at providing useful insights to the management of Investleaf

Management Solutions on employee absenteeism prevailing in the company.

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 RESEARCH METHODOLOGY

Research is a systematic method of finding solutions to problems. According to

Clifford woody, “research comprises of defining and redefining problem, formulating
hypothesis or suggested solutions, collecting, organizing and evaluating data, reaching
conclusions, testing conclusions to determine whether they fit the formulated
hypothesis”

It constitutes the blueprint for the collection, measurement and analysis of data.
As such the design includes an outline of what the researcher will do form writing the
hypothesis and its operational implication to the final analysis of data.

More explicitly, the design decisions happen to be in respect of;

Ø What is the study about?

Ø Why is the study being made?

Ø Where will the study be carried out?

Ø What type of data is required?

Ø Where can the data are found?

Ø What periods of time will the study include?

Ø What will be the sample design?

Ø How will the data be analyzed?

Ø In what style will the report be prepared?

Ø What techniques of data collection will be used?

For the purpose of study, both primary and secondary data has been collected. The
observational method and survey research method is used to collect the primary data.

The necessary data has also been collected from official records and other
published sources. The collected data is classified, tabulated, analyzed and interpreted
later.

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DATA COLLECTION:

There are two types of data collection

1. Primary data

2. Secondary data

Primary data

 Primary data is personally developed data and it gives latest information and
offers much greater accuracy and reliability.

 There are various sources for obtaining primary data i.e., Questionnaire, Mail
survey, personal interview,

 Field survey, panel research and observation approach etc.

 The study to maximum extent dependent on primary data, which is collected by

way of structures personal interview with customers.

Methods that can be used for collection of primary data are as follows:

 Direct personal observation: Under this method, the investigator presents

himself personally before the informant and obtains first hand information.
This method provides greater degree of accuracy.
 Telephone survey: Under this method the investigator, instead of
presenting himself before the informants, contacts them on telephone and
collects information from them.
 Indirect personal interview: Under this method, instead of directly
approaching the informants, the investigator interviews several third persons
who are directly or indirectly concerned with the subject – matter of the
enquiry and who are in possession of the requisite information. This method
is highly suitable where the direct personal investigation is not practicable
either because the informants are unwilling or reluctant to supply the
information or where the information desired is complex or the study in
hand is extensive.

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  Questionnaire method: Under this method, the investigator prepares a
questionnaire containing a number of questions pertaining to the field of
enquiry. Under this method, the investigator directly contact the person and
collect the information through questionnaire related to the data. The aims
and objectives of collecting the information, and requesting the respondents
to cooperate by furnishing the correct replies and fill the questionnaire with
correct information. The success of this method depends upon the proper
drafting of the questionnaire and the cooperation of the respondents.

Primary sources considered with regard to Employee absenteeism at Investleaf

Management Solutions:

 Interaction with the employees of Investleaf Management Solutions.

Secondary data

Secondary data is the published data. It is already available for using and its
saves time. The mail source of secondary data are published market surveys,
government publications advertising research report and internal source such as sales,
sales records orders, customers complaints and other business record etc. the study has
also depended on secondary data to little extent, which is collected through internal
source.

Methods that can be used for collection of secondary data are as follows:

 Published sources: There are a number of national organisations and

international agencies, which collect and publish statistical data relating to
business, trade, labour, price, consumption, production, etc. These
publications of the various organisations are useful sources of secondary
data.
 Unpublished sources: The records maintained by private firms or business
houses who may not like to release their data to any outside agency are
known as unpublished sources of collection of secondary data.

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Secondary sources considered:

 Websites

 Journals

 Annual Reports

Sampling Design:

A sample design is a finite plan for obtaining a sample from a given population.
Simple random sampling is used for this study

Sample Size:

Number of the sampling units selected from the population is called the size of
the sample.

For this study, a sample of 50 respondents was interviewed from the employees
of Investleaf Management Solutions Pvt. Ltd.

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CHAPTER II - REVIEW OF LITERATURE

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INTRODUCTION:

Absenteeism is a habitual pattern of absence from a duty or obligation. An

absence refers to time an employee is not on the job during scheduled working hours,
except for a granted leave of absence, holiday, or vacation time. However, employee
absenteeism is not just an employee issue it is an organizational problem and therefore
becomes everyone's responsibility.

FRANCES DAVIES Says “Absenteeism can have an enormous effect on the

productivity of an organization. The average American worker takes six days sick leave
a year, and although this is significantly less than in places such as Europe it is still
having a big impact on US staffing resources and productivity. The loss of productivity
due to short/long-term illness, disability is therefore proving to be a major headache for
companies. Effective absence management programs can be the best remedy for
reducing absenteeism.”

“Every time an employee is absent from work there is a loss of productivity to

the organization,” explains Sharon Kaleta, President and CEO of the Disability
Management Employers Coalition (DMEC). “One person absent from work may not
create a problem, but several people absent for one or more days can have a significant
financial impact to the organization.”

Definitions:

1. Absents constitutes a single day of missed work (Martocchio & Jimeno 2003)

2. Absence occurs whenever a person chooses to allocate time to activities that

compete with scheduled work either to satisfy the waxing and warning of
underlying motivational rhythms (Fichman 1984) or to maximize personal
utility (Chelius 1981)

3. An individuals lack of physical presence at a given location and time when there
is a social expectation for him or her to be there. (Martocchio & Harrison,
1993)

4. Absenteeism refers to Non-attendance of employee for scheduled work

(Gibson, 1966 john, 1978)

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 5. Absenteeism is defined as a failure of an employee to report to work when he or
she is scheduled to do so

Impact Of Absenteeism

There are many forms of absenteeism, ranging from short-term illness, long-
term illness, unauthorized absence and persistent lateness, to other authorized absences
such as annual leave, paternity leave, time off to care for dependents and compassionate
leave. Other causes might also include low morale, stress and poor working conditions,
many of which are proven chart.

The effect absenteeism can have on a business can be wide-ranging, but

particularly affects those employees left to pick up the pieces. According to Wayne
Wendling, Senior Director of Research at the International Foundation of Employee
Benefit Plans.

The workings of a company have changed and employees are now much more
interconnected than previously – and, as a result, organizations are much more
dependent on their employees.

“When someone is absent, the entire web of interaction among employees can
be disturbed in terms of workflows and the availability of information,” he explains.
“Part of that is overcome as more files are now open to people who can fill in and help
with the tasks that the individual may have been performing. However, there is a
definite ‘ripple effect’ through the organization when someone is unexpectedly ill. The
productivity of others is also being impacted.”

Working Well

There are many measures that an employer can take to help mitigate the rippling
effects of absenteeism on the workforce. Sometimes it really is the little things that
make the most difference. Allowing employees to visit doctors and dentists, health
surveillance, health education and stress management interventions are all good
examples. “Once they are measuring absence and then reducing it, they will find that a
fitter workforce will perform better and productivity will increase – giving them a
competitive edge in any business environment,” enthuses Bawden.

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 One of the most effective ways to combat absenteeism, however, is to maintain
a happy working environment where people actually enjoy coming to work. “Have a
workplace that people love to come to work in and they feel they are doing something
meaningful,” Wendling recommends.

Although not always proven chart, absenteeism is something that can be

mitigated to a certain degree, and absence management programs can definitely help.
Fostering a caring working environment where workers are supported during any
illness or disability can only work in the favor of the company – and ensures that work
isn’t something for employees to be sick of.

Absence affects more than just the person who is absent.

The absent employees themselves and their dependants may have a reduced
income as a result of absence, besides incurring possible additional medical expenses.
Employers are affected by direct costs such as sick pay, overtime and staff replacement
costs, plus the indirect costs associated with the effects of absence on, for example,
production and quality, management time and the potential loss of customers. The co-
workers of an absent employee may have to work under increased pressure,in order to
meet deadlines.

Many organizations appear to accept a certain level of absence i.e. where a

proportion of their employees are away on any particular day. The recent IBEC study
found that over half of the respondents did not consider they had a problem with
absence. However, more than four out of ten companies in the survey considered their
absence levels to be a cause for concern. As only a portion of absence days are subject
to organization control – it is important to determine what portion of employee absence
is avoidable.

Employees can feel they have been treated unfairly when they perceive other
absent employees as ‘getting away with it’. Absence can also be a symptom of a more
serious underlying problem, such as bullying and/or harassment, communication
breakdown, stress, etc., which could, if not investigated, lead to significant costs to the
organization, as well as causing long-term damage to the employee.

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 A recent IBEC survey showed that personal problems were cited as a cause of
absence in a significant number of companies, for both males and females. Nowadays,
apart from sickness, employees can be absent from work for any one of a number of
reasons, either under statutory leave entitlement (such as – annual leave, maternity or
adoptive leave, parental leave), or under arrangements agreed at an individual company
level (such as compassionate or bereavement leave, study and/or exam leave, marriage
leave, training, etc.).

How To Deal With Employee Absenteeism

1. For Employees Who Are Absent

For Supervisors/Managers:

Recently, I was asked by a manager how he should deal with the fact that on
any given day 10% of his employees are absent from work. I informed the manager that
the problem of employee absenteeism is a problem best resolved by taking the
following four positive interventions versus taking a negative or punitive approach.

Change Management Style:

We are all aware of the fact that when employees call in ill, it does not mean
they are truly too physically ill to work. One reason, outside of illness, that employees
are absent is stress, and the number one reason employees are stressed has to do with
their relationship with their manager/supervisor.

Management styles that are too authoritarian tend to promote high levels of
absenteeism among employees. Authoritarian managers are managers who have poor
listening skills, set unreachable goals, have poor communication skills, and are
inflexible. In other words, they yell too much, blame others for problems, and make
others feel that it must be their way or the "highway." Authoritarian managers tend to
produce high absenteeism rates. By identifying managers who use an authoritarian
style, and providing them with management training, you will be taking a positive step
not only toward reducing absenteeism, but also reducing turnover, job burnout, and
employee health problems such as backaches and headaches.

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Change Working Conditions:

The employees in your company probably work in a well-lighted climate

controlled building. The working conditions I am referring to relate to coworker
relationships. Not only does relationship stress occur between the employee and
manager, but it also exists between employees. Frequently I hear employees say they
did not go to work because they are fearful of or angry with another employee. These
employees usually report they just could not deal with "so and so" today, so they called
in ill. Companies that adopted policies and values that promote employee respect and
professionalism, and promote an internal conflict resolution procedure, are companies
that reduce employee stress. A reduction in employee stress reduces employee
absenteeism.

Provide Incentives:

Giving employees incentives for reduced absenteeism is not the same as

rewarding or giving employees bonuses for reduced absenteeism. An incentive provides
an employee with a boost to their motivation to avoid unnecessary absenteeism. It
simply helps the employee decide to go to work versus staying home and watching
Jerry Springer.

The types of incentive programs used by companies are numerous. Some

companies allow employees to cash-in unused sick days at the end of every quarter,
others give an employee two hours of bonus pay for every month of perfect attendance;
and still others provide employees with a buffet lunch, a certificate of achievement, or
even a scratch-off card concealing prizes. The type of incentive program that your
company uses should be one created especially for your company. You can create an
incentive program tailored to your unique company by allowing employees to help you
develop the incentive program.

The duration of the incentive program is also very important. Some companies
find that they can simply reward employees with perfect attendance once a year, while
others decide once a month is best, and still others decide once a week works best.

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Develop an Attendance Policy:

Every company should have an attendance policy. An attendance policy allows

a manager to intervene with an employee who is frequently absent. Besides stress as a
primary reason for employee absenteeism, other causes relate to alcoholism, domestic
violence, and family problems. If you confront an employee about his or her frequent
absenteeism, and they inform you it is due to personal problems, consider referring the
employee to an Employee Assistance Program (EAP).

If the employee's absenteeism relates to a medical problem or a family member

with a medical problem, you may have to consider allowing the employee to use the
benefits allowed to them under the American's with Disability Act (ADA) or the
Family and Medical Leave Act (FMLA). Early identification of these employees will
get them back to work as fast as possible. Lastly, make sure that you have an attorney
review your attendance policy to make sure it does not violate any State or Federal
labor laws. By incorporating the above four strategies into your company you will not
only reduce absenteeism you will reduce employee burnout, turnover, poor morale, and
workplace negativism.

2. For Employees Who Are Frequently Absent

One of the most important steps you can take if you are frequently absent is to
keep your employer informed. Employees who are frequently absent without good
cause are generally absent due to numerous frivolous reasons. Employees who are
absent for good cause have legitimate reasons, e.g. sickness or family member illness,
and the employee needs time off to resolve their personal problems. Most employers
generally understand the need to be gone from work due to a legitimate reason;
therefore, it is important to communicate clearly and accurately so your employer does
not assume you are out for frivolous reasons.

As an employee you are allowed to take up to 12 weeks of unpaid leave under

the federal Family and Medical Leave Act (FMLA). The 12 weeks of leave may be
taken continuous or intermittently, thereby allowing the employee to work on a less
than full-time schedule.

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  FMLA can be used for the care of a child after birth, adoption, or foster care
placement.

 FMLA is available to care for an immediate family member (spouse, child, and
parent) who has a serious health condition.

 FMLA can be used for your own serious health concerns. It does not cover for
the common cold, flu, ear aches, upset stomach, common headache, or routine
dental care.

In order to be covered by FMLA you must be considered an "eligible" employee.

An eligible employee must have 12 months (1,250 hours) of employment, and your
employer must employ 50 or more employees within 75 miles of the worksite.
Employees must provide 30 days of advance notice for foreseeable events. There are
different exemptions present for both school teachers and state/local government
employees.

If you are an eligible employee, your employer must maintain your benefits, allow
you to return to the same or equivalent position, and not decrease your pay or benefits
at the conclusion of 12 weeks. If you believe you are eligible for FMLA, inform your
supervisor or HR department that you are requesting FMLA coverage. Your employer
is required to provide you with written notice, within two business days, informing you
if you are eligible or not.

Absenteeism – According to Gary Vikesland, MA LP CEAP

Information regarding absenteeism among workers in an industrial

establishment on account of reasons other than strikes, lockouts, lay-off, weekly rest or
suspension, provide a sound database for gauging the employee’s morale, commitment
and level of job satisfaction which have a direct bearing on productivity of the
establishment. It is one of the indicators to monitor and evaluate various labour welfare
programs and labour policies.

Instill enthusiasm to curb absenteeism

Every organization, irrespective of size and composition, is plagued by the

problem of absenteeism. Managers know that employees are not always genuinely sick

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when they fail to turn up for work, yet they cannot stop them from calling in sick or
saying that they have to attend to some personal work. There could be a hordes of
reasons for absenteeism. Sometimes an employee may not simply turn up for work
because his morale is low or he is just not motivated to work.

It is observed that if employees were happy doing their work, they would be less
inclined to take even a day off. Many employers think that paying their workers
handsomely or providing better working conditions or improving job security can
reduce absenteeism. But such benefits do not guarantee a reduction in employee
absenteeism. The solution actually lies in understanding and meeting the emotional
needs of workers and trying to find out what really motivates them to come to work and
give their best.

A wise manager would endeavor to understand the needs of workers at the

recruiting stage itself. The manager can try and choose the right person for the right job.
Getting to know the applicant well by focusing on the human side rather than on their
qualifications and experience can do this. Efforts should be made to find out the kind of
work and responsibilities that make an employee happy, the enthusiasm for work and
ability to get along with other people. The manager must ascertain that the job suits the
candidate.

The next step would be to build employee's trust. As an employer if you have
taken efforts to choose the right candidates for the job, then it is equally important that
you believe in them and trust them to do their job. This trust, though, has to be
communicated to the employees.

If the employer believes that the employees cannot do their jobs well, cannot
take decisions on their own and do not do a fair day's work then this is what they will
actually do. On the contrary, if the manager's perception of employees is that they are
efficient workers, independent thinkers and able decision makers, then they will go to
any extent to prove it.

The most important step to counter absenteeism is for the manager to constantly
give the employees feedback and motivate them to perform better. But most are

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woefully lacking in this ability, they simply are not comforCHART telling their staff
about their performance.

So it is important that managers provide feedback to employees on a regular

basis on what they are doing well and the areas of improvement. If you notice
something that requires mention tell the employee about it and tell it immediately lest
the significance of the feedback should be lost.

If you postpone your feedback on things the employee is not doing rightthen it will be
assumed what is being done is right or that you do not notice such things or you do not
care. Some more tips on giving the right kind of feedback:

 Do it in private, on a one-to one basis

 Focus your feedback on one or two things

 Do not personally attack the employee

 Be honest and prompt with feedback

Reducing employee absenteeism is in the employer's hands. If the staff has to be

motivated enough to think twice about taking a day off, their work has to be made
interesting. In short, they need regular feedback and be made to feel that they play an
important part in the business.

This can be done by giving the employees greater responsibility, training and
developing their skills and focusing on what they are doing right. Involving employees
both formally and informally in the aspects of the business will create a sense of
belonging. These measures make employees feel good about what they are doing and
thus increase job satisfaction. Organizations would be prudent if they tackle
absenteeism before it becomes a contagion.

Labour Absenteeism – by Michael J. Peel, Nick Wilson

Using a random sample of 49 UK engineering companies, the influence of profit

sharing, share-option schemes and the perceived degree of employee participation in
decision making on inter-firm lab our absenteeism rates are investigated. After
controlling for a number of firm-specific factors, suggested as theoretically appropriate

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in the extant literature, the key empirical results indicated that firms which had adopted
sharing schemes appeared to experience significantly lower absenteeism rates than their
non-sharing counterparts.

Guidelines For Absenteeism Control

There are two types of absenteeism, each of which requires a different type of
approach.

1. Innocent Absenteeism

Innocent absenteeism refers to employees who are absent for reasons beyond
their control; like sickness and injury. Innocent absenteeism is not culpable which
means that it is blameless. In a lab our relations context this means that it cannot be
remedied or treated by disciplinary measures.

2. Culpable Absenteeism

Culpable absenteeism refers to employees who are absent without authorization

for reasons which are within their control. For instance, an employee who is on sick
leave even though he/she is not sick, and it can be proven that the employee was not
sick, is guilty of culpable absenteeism. To be culpable is to be blameworthy. In a lab
our relations context this means that progressive discipline can be applied.

For the large majority of employees, absenteeism is legitimate, innocent

absenteeism which occurs infrequently. Procedures for disciplinary action apply only to
culpable absenteeism. Many organizations take the view that through the process of
individual absentee counseling and treatment, the majority of employees will overcome
their problems and return to an accept chart level of regular attendance.

Identifying Excessive Absenteeism

Attendance records should be reviewed regularly to be sure that an employee's

sick-leave days are excessive compared to other employees. If a supervisor suspects
that an employee is excessively absent, this can be confirmed through reviewing the
attendance records.

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 If all indications show that an employee is excessively absent, the next step is to
gather as much information as possible in order to get a clearer picture of the situation.
The employees' files should be reviewed and the employee’s immediate supervisor
should document all available information on the particular employee's history.

Individual Communication

After all available information has been gathered, the administrator or

supervisor should individually meet with each employee whom has been identified as
having higher than average or questionable (or pattern) absences. This first meeting
should be used to bring concerns regarding attendance to the employee's attention. It is
also an opportunity to discuss with the employee, in some depth, the causes of his or
her attendance problem and possible steps he or she can take to remedy or control the
absences. Listen carefully to the employee's responses.

Proof of Illness

Sometimes it is helpful in counseling employees with excessive innocent or

culpable absenteeism to inquire or verify the nature and reasons of their absence.

The extent to which an employer may inquire into the nature of and reasons for an
employee's absence from the workplace is a delicate issue. The concepts of an
employee's privacy and an employer's need for information affecting the workplace
often come into conflict. Seldom is the conflict more difficult to resolve than where
personal medical information is involved.

Unions will often strongly object to any efforts by management to inquire more
deeply into the nature of an employee's illness. You will need to consider the restraints
of any language in collective agreements in relation to this issue.

Counseling Innocent Absenteeism

The procedure an employer may take for innocent absenteeism is as follows:

1. Initial counseling(s)
2. Written counseling(s)
3. Reduction(s) of hours and/or job reclassification
4. Discharge

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1. Initial Counseling

If the absences are intermittent, meet with the employee each time he/she
returns to work. If absence is prolonged, keep in touch with the employee regularly and
stay updated on the status of his/her condition. (Indicate your willingness to assist.)

You may require the employee to provide you with regular medical
assessments. This will enable you to judge whether or not there is any likelihood of the
employee providing regular attendance in future. Regular medical assessments will also
give you an idea of what steps the employee is taking to seek medical or other
assistance. Formal meetings in which verbal warnings are given should be given as
appropriate and documented. If no improvement occurs written warning may be
necessary.

2. Written Counseling

If the absences persist, you should meet with the employee formally and provide
him/her with a letter of concern. If the absenteeism still continues to persist then the
employee should be given a second letter of concern during another formal meeting.
This letter would be stronger worded in that it would warn the employee that unless
attendance improves, termination may be necessary.

3. Reduction(s) Of Hours and or Job Reclassification

In between the first and second letters the employee may be given the option to
reduce his/her hours to better fit his/her personal circumstances. This option must be
voluntarily accepted by the employee and cannot be offered as an ultimatum, as a
reduction in hours is a reduction in pay and therefore can be looked upon as discipline.

4. Discharge

Only when all the previously noted needs and conditions have been met and
everything has been done to accommodate the employee can termination be considered.
An Arbitrator would consider the following in ruling on an innocent absenteeism
dismissal case.

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 I. Has the employee done everything possible to regain their health and return to
work?

II. Has the employer provided every assistance possible? (I.e. counseling, support,
time off.)

III. Has the employer informed the employee of the unworkable situation resulting
from their sickness?

IV. Has the employer attempted to accommodate the employee by offering a more
suitable chart position (if available) or a reduction of hours?

V. Has enough time elapsed to allow for every possible chance of recovery?

Corrective Action for Culpable Absenteeism

As already indicated, culpable absenteeism consists of absences where it can be

demonstrated that the employee is not actually ill and is able to improve his/her
attendance.

Presuming you have communicated attendance expectations generally, have

identified the employee as a problem, have met with him/her as part of your attendance
program, made your concerns on his specific absenteeism known and have offered
counseling as appropriate, with no improvement despite your positive efforts,
disciplinary procedures may be appropriate.

The procedures for corrective/progressive discipline for culpable absenteeism

are generally the same as for other progressive discipline problems. The discipline
should not be prejudicial in any way.

The general procedure is as follows: [Utilizing counseling memorandum]

1. Initial Warning(s)

2. Written Warning(s)

3. Suspension(s)

4. Dismissal

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1. Initial/Verbal Warning

Formally meet with the employee and explain that income protection is to be
used only when an employee is legitimately ill. Advice the employee that his/her
attendance record must improve and be maintained at an improved level or further
disciplinary action will result. Offer any counseling or guidance as is appropriate. Give
further verbal warnings as required. Review the employee's income protection records
at regular intervals. Where a marked improvement has been shown, commend the
employee. Where there is no improvement a written warning should be issued.

2. Written Warning

Interview the employee again. Show him/her the statistics and point out that
there has been no noticeable (or sufficient) improvement. Listen to the employee to see
if there is a valid reason and offer any assistance you can. If no satisfactory explanation
is given, advise the employee that he/she will be given a written warning. Be specific in
your discussion with him/her and in the counselling memorandum as to the type of
action to be taken and when it will be taken if the record does not improve. As soon as
possible after this meeting provide the employee personally with the written warning
and place a copy of his/her file. The written warning should identify any noticeable
pattern

3. Suspension (only after consultation with the appropriate superiors)

If the problem of culpable absenteeism persists, following the next interview

period and immediately following an absence, the employee should be interviewed and
advised that he/she is to be suspended.

The length of the suspension will depend again on the severity of the problem,
the credibility of the employee's explanation, the employee's general work performance
and length of service. Subsequent suspensions are optional depending on the above
condition.

23
4. Dismissal (only after consultation with the appropriate superiors)

Dismissals should only be considered when all of the above conditions and
procedures have been met. The employee, upon displaying no satisfactory
improvement, would be dismissed on the grounds of his/her unwillingness to correct
his/her absence.

24
CHAPTER III - COMPANY PROFILE

25
 Investleaf Management Solutions Pvt. Ltd.
Company Overview

Investleaf Management Solutions Pvt Ltd has established itself as one of the
‘Premier Investment Consultancy Firms’, known for making investing simpler, more
understandable and profitable for the investors. The company directly and through
its affiliate programs offers a wide range of products & services viz: Equity,
Derivatives, Currency Futures, Commodities Trading, IPO's, Mutual Funds,
Insurance, Real Estate, Portfolio Management Services & Depository Services all
under one roof, for the convenience and benefit of its customers.

Equities

Investleaf offers you the best ‘3-IN-1’ online trading accounts from different
online trading firms, blending the best of technology with traditional broking.
Investleaf offers Equity Trading through its business partner India Infoline Ltd.
India Infoline provided the prospect of researched investing to its clients, which was
hitherto restricted only to the institutions. Research for the retail investor did not
exist prior to India Infoline. India Infoline leveraged technology to bring the
convenience of trading to the investor’s location of preference (residence or office)
through computerized access. India Infoline made it possible for clients to view
transaction costs and ledger updates in real time.

Mutual Funds

Investleaf has a dedicated team of research analysts specializing in mutual

funds. This is a unique feature not found in many other firms. The team comprises
analysts from different fields such as economics, statistics and finance among
others. This diverse background helps us to analyze funds and performance on a
variety of parameters both conventional as well as unconventional. We have
developed a proprietary ranking of mutual funds which is a combination of
quantitative and qualitative factors. The team is equipped to serve both institutional
and retail clients. Our research includes independent objective analysis as well as
interactions with fund managers and asset management companies.

26
 Our research output includes daily performance reports, weekly and
monthly updates, special focus articles as well as quarterly portfolio updates. The
research calls are disseminated to clients through SMS Alerts, phone and email.

Commodities

Investleaf has a dedicated team of analysts specializing in commodities and

commodities trading. The team comprises analysts from different fields such as
economics, agriculture science, statistics, and finance among others. This diverse
manpower mix helps us to do a multi perspective analysis of all commodities and
filter the information as per the duration of the trading call. The team is equipped to
serve both institutional and retail clients. Our research, well recognized in the
industry is based on primary surveys, interactions with physical markets players,
fundamental, derivatives, technical and statistical analysis, giving it a sense of
completeness. Analysts have access to the latest market data, charts, market
intelligence etc. constantly analyzing the data to facilitate your trading decisions.
Our research is aimed not only at the long-term traders & investors, but also caters
to the needs of short term / intra day traders. The research calls are disseminated to
clients through SMS Alerts, RM calls and email.

Real Estate

 Investleaf brings together a range of services under a single roof.

 New Projects aggregated across builders and pass our stringent project and
builder selection criteria and could be Commercial, Industrial or Residential
properties.

 Facilities Management for Commercial and Residential Complexes for

housekeeping, building management and office support solutions.

 Finance for Commercial and Residential Properties that call for specialist
expertise.

 Property Insurance Advisory on the right Insurance solutions.

27
Investment Research

Investleaf offers the most comprehensive deal coverage that covers India’s
investment eco-system. Investleaf offers information and reports on M&A, Project
Financing, Initial Public Offerings, Private Placements, Private Equity and Venture
Capital transactions including transaction terms, structures, deal amounts and
valuations. It also contains entity information on all companies involved in these
transactions including target companies, investors and advisors. The hosted platform
provides information on demand and helps reduce research time, allowing users to
spend more time on analysis.

Investleaf uses advanced web tools to provide information in an intuitive and

user-friendly format. Investleaf also provides information in spreadsheet & pdf
formats to make life of a financial researcher easy. Investleaf is supported by a team
of highly skilled analysts and journalists who understand the information needs of
clients. Users associated with private equity, venture capital, investment banking,
corporate law, finance and consulting or anyone else with an interest in the Indian
deal landscape will find Investleaf as an indispensable resource.

Management Team

Srinivas Gattupalli

An MBA Graduate & Financial Research Expert over 12 years of proven

skill-sets in leading Research & Financial services companies and currently
pioneering his entrepreneurial venture Investleaf Management Solutions. His areas
of expertise include Initial Public Offerings, Mergers & Acquisitions, Private Equity
and Venture Capital.

Mr. Gattupalli is competent in leading functional teams by effectively

mentoring and guiding individual members, recruiting personnel, and training new
recruits for successfully developing new products. A committed financial expert
desirous of assuming wider & more challenging roles for spearheading
organizational growth & profitability by utilizing vast domain knowledge &
functional abilities.

28
 His other areas of business interest include web site designing, knowledge
dissemination through web portals, internet and digital marketing, and content
development services. Mr. Gattupalli joined as Research Associate with CapitalIQ in
the year 2000 and gradually moved on to work for leading research companies
including Factset Research Systems, R.R. Donnelley & Sons Company and
GlobalData.

Vamshi B

An MCA graduate and co-promoter of Investleaf Management Solutions,

Mr. Vamshi is efficient in providing guidance and quality technology services to the
organization. Mr. Vamshi is based out in U.S from where he leads the marketing
efforts of the organization. His 10 years stint in the industry and his association with
major companies has offered him complex challenges which he handled efficiently.

Swetha M

A bachelor’s graduate in technology in the faulty of Computer Science,

Swetha initiated her career with Edlogix Software Solutions as a Software Engineer.
Swetha was elevated to software development manager in Investleaf Management
Solutions. Irrespective of the assignments, she was delegated she strived to execute
the responsibility with 100% perfection. Her habit of continuous learning has
assisted her to become an expert in the role providing the clients utmost service.

Siddarth Kallu

A bachelor’s graduate in technology in the faulty of Mechatronics, Siddarth

initiated his career with Edlogix Software Solutions as a Client Co-Ordinator. Two
years later, Siddarth was elevated to the role of Business Development Manager at
Investleaf Management Solutions.

Pratyusha G

An MBA graduate in HR, Pratyusha initiated her career with Investleaf

Management Solutions as a HR Manager. Pratyusha plans, directs, and coordinates
activities of employees engaged in receiving, investigating, evaluating, and settling
complaints and claims of customers.

29
Welfare Activities Provided by Investleaf Management Solutions To Employees

1. Statutory Welfare Measures

 Canteen Facilities

 Water Coolers

 Leave Facilities

 Maternity Leave

 Other Provisions

 Contributory Provident Fund

 Bonus

 Gratuity

 Workmen Compensation

 Provident Fund

2. Non Statutory Welfare Measures Facilities Given To Employers

 Facilities for Education

 Good Working Environment

 Uniform

 Employee Participation Schemes

 Good break Facilities Between the Work

 Employee Health Programme

 Insurance

 ESI

 Employee Motivation Classes

 Offers for Employees

30
 INDUSTRY PROFILE

Financial Markets

Finance is the pre-requisite for modern business and financial institutions play a
vital role in the economic system. It is through financial markets and institutions that
the financial system of an economy works. Financial markets refer to the institutional
arrangements for dealing in financial assets and credit instruments of different types
such as currency, cheques, bank deposits, bills, bonds, equities, etc.

Financial market is a broad term describing any marketplace where buyers and
sellers participate in the trade of assets such as equities, bonds, currencies and
derivatives. They are typically defined by having transparent pricing, basic regulations
on trading, costs and fees and market forces determining the prices of securities that
trade.

Generally, there is no specific place or location to indicate a financial market.

Wherever a financial transaction takes place, it is deemed to have taken place in the
financial market. Hence financial markets are pervasive in nature since financial
transactions are themselves very pervasive throughout the economic system. For
instance, issue of equity shares, granting of loan by term lending institutions, deposit of
money into a bank, purchase of debentures, sale of shares and so on.

In a nutshell, financial markets are the credit markets catering to the various
needs of the individuals, firms and institutions by facilitating buying and selling of
financial assets, claims and services.

31
 CLASSIFICATION OF FINANCIAL MARKETS

Financial markets

Organized markets Unorganized markets

Money Lenders,
Capital Markets Money Markets
Indigenuos Bankers

Industrial Securities
Call Money Market
Market

Commercial Bill
Primary Market
Market

Secondary market Treasury Bill Market

Government
Securities Market

Long-term loan
market

32
 Capital Market

The capital market is a market for financial assets which have a long or
indefinite maturity. Generally, it deals with long term securities which have a period of
above one year. In the widest sense, it consists of a series of channels through which
the savings of the community are made available for industrial and commercial
enterprises and public authorities. As a whole, capital market facilitates raising of
capital.

The major functions performed by a capital market are:

1. Mobilization of financial resources on a nation-wide scale.

2. Securing the foreign capital and know-how to fill up deficit in the

required resources for economic growth at a faster rate.

3. Effective allocation of the mobilized financial resources, by directing the

same to projects yielding highest yield or to the projects needed to promote balanced
economic development.

Capital market consists of primary market and secondary market.

Primary market:

Primary market is a market for new issues or new financial claims. Hence it is
also called as New Issue Market. It basically deals with those securities which are
issued to the public for the first time. The market, therefore, makes available a new
block of securities for public subscription. In other words, it deals with raising of fresh
capital by companies either for cash or for consideration other than cash. The best
example could be Initial Public Offering (IPO) where a firm offers shares to the public
for the first time.

Secondary market:

Secondary market is a market where existing securities are traded. In other

words, securities which have already passed through new issue market are traded in this
market. Generally, such securities are quoted in the stock exchange and it provides a

33
continuous and regular market for buying and selling of securities. This market consists
of all stock exchanges recognized by the government of India.

Money Market:

Money markets are the markets for short-term, highly liquid debt securities.
Money market securities are generally very safe investments which return relatively
low interest rate that is most appropriate for temporary cash storage or short term time
needs. It consists of a number of sub-markets which collectively constitute the money
market namely call money market, commercial bills market, acceptance market, and
Treasury bill market.

Derivatives Market:

The derivatives market is the financial market for derivatives, financial instruments
like futures contracts or options, which are derived from other forms of assets. A
derivative is a security whose price is dependent upon or derived from one or more
underlying assets. The derivative itself is merely a contract between two or more
parties. Its value is determined by fluctuations in the underlying asset. The most
common underlying assets include stocks, bonds, commodities, currencies, interest
rates and market indexes. The important financial derivatives are the following:

 Forwards: Forwards are the oldest of all the derivatives. A forward contract
refers to an agreement between two parties to exchange an agreed quantity of an
asset for cash at a certain date in future at a predetermined price specified in that
agreement. The promised asset may be currency, commodity, instrument etc.

 Futures: Future contract is very similar to a forward contract in all respects

excepting the fact that it is completely a standardized one. It is nothing but a
standardized forward contract which is legally enforceable and always traded on
an organized exchange.

 Options: A financial derivative that represents a contract sold by one party

(option writer) to another party (option holder). The contract offers the buyer
the right, but not the obligation, to buy (call) or sell (put) a security or other
financial asset at an agreed-upon price (the strike price) during a certain period

34
 of time or on a specific date (exercise date). Call options give the option to buy
at certain price, so the buyer would want the stock to go up. Put options give the
option to sell at a certain price, so the buyer would want the stock to go down.

 Swaps: It is yet another exciting trading instrument. Infact, it is the combination

of forwards by two counterparties. It is arranged to reap the benefits arising
from the fluctuations in the market – either currency market or interest rate
market or any other market for that matter.

Foreign Exchange Market

It is a market in which participants are able to buy, sell, exchange and speculate

on currencies.  Foreign exchange markets are made up of banks, commercial
companies, central banks, investment management firms, hedge funds, and retail forex
brokers and investors. The forex market is considered to be the largest financial market
in the world. It is a worldwide decentralized over-the-counter financial market for the
trading of currencies. Because the currency markets are large and liquid, they are
believed to be the most efficient financial markets. It is important to realize that the
foreign exchange market is not a single exchange, but is constructed of a global
network of computers that connects participants from all parts of the world.

Commodities Market

It is a physical or virtual marketplace for buying, selling and trading raw or

primary products. For investors' purposes there are currently about 50 major
commodity markets worldwide that facilitate investment trade in nearly 100 primary
commodities. Commodities are split into two types: hard and soft commodities. Hard
commodities are typically natural resources that must be mined or extracted (gold,
rubber, oil, etc.), whereas soft commodities are agricultural products or livestock (corn,
wheat, coffee, sugar, soybeans, pork, etc.)

Indian Financial Markets

India Financial market is one of the oldest in the world and is considered to be
the fastest growing and best among all the markets of the emerging economies. The
history of Indian capital markets dates back 200 years toward the end of the 18th

35
century when India was under the rule of the East India Company. The development of
the capital market in India concentrated around Mumbai where no less than 200 to 250
securities brokers were active during the second half of the 19th century.

The financial market in India today is more developed than many other sectors
because it was organized long before with the securities exchanges of Mumbai,
Ahmadabad and Kolkata were established as early as the 19th century.

By the early 1960s the total number of securities exchanges in India rose to
eight, including Mumbai, Ahmadabad and Kolkata apart from Madras, Kanpur, Delhi,
Bangalore and Pune. Today there are 21 regional securities exchanges in India in
addition to the centralized NSE (National Stock Exchange) and OTCEI (Over the
Counter Exchange of India).

However the stock markets in India remained stagnant due to stringent controls
on the market economy that allowed only a handful of monopolies to dominate their
respective sectors. The corporate sector wasn't allowed into many industry segments,
which were dominated by the state controlled public sector resulting in stagnation of
the economy right up to the early 1990s. Thereafter when the Indian economy began
liberalizing and the controls began to be dismantled or eased out; the securities markets
witnessed a flurry of IPO’s that were launched. This resulted in many new companies
across different industry segments to come up with newer products and services.

A remarkable feature of the growth of the Indian economy in recent years has
been the role played by its securities markets in assisting and fuelling that growth with
money rose within the economy. This was in marked contrast to the initial phase of
growth in many of the fast growing economies of East Asia that witnessed huge doses
of FDI (Foreign Direct Investment) spurring growth in their initial days of market
decontrol. During this phase in India much of the organized sector has been affected by
high growth as the financial markets played an all-inclusive role in sustaining financial
resource mobilization. Many PSUs (Public Sector Undertakings) that decided to offload
part of their equity were also helped by the well-organized securities market in India.

The launch of the NSE (National Stock Exchange) and the OTCEI (Over the
Counter Exchange of India) during the mid 1990s by the government of India was

36
meant to usher in an easier and more transparent form of trading in securities. The NSE
was conceived as the market for trading in the securities of companies from the large-
scale sector and the OTCEI for those from the small-scale sector. While the NSE has
not just done well to grow and evolve into the virtual backbone of capital markets in
India the OTCEI struggled and is yet to show any sign of growth and development. The
integration of IT into the capital market infrastructure has been particularly smooth in
India due to the country’s world class IT industry. This has pushed up the operational
efficiency of the Indian stock market to global standards and as a result the country has
been able to capitalize on its high growth and attract foreign capital like never before.

The regulating authority for capital markets in India is the SEBI (Securities and
Exchange Board of India). SEBI came into prominence in the 1990s after the capital
markets experienced some turbulence. It had to take drastic measures to plug many
loopholes that were exploited by certain market forces to advance their vested interests.
After this initial phase of struggle SEBI has grown in strength as the regulator of
India’s capital markets and as one of the country’s most important institutions.

Financial Market Regulations

Regulations are an absolute necessity in the face of the growing importance of

capital markets throughout the world. The development of a market economy is
dependent on the development of the capital market. The regulation of a capital market
involves the regulation of securities; these rules enable the capital market to function
more efficiently and impartially.

A well regulated market has the potential to encourage additional investors to

partake, and contribute in, furthering the development of the economy. The chief
capital market regulatory authority is Securities and Exchange Board of India (SEBI).

SEBI is the regulator for the securities market in India. It is the apex body to
develop and regulate the stock market in India It was formed officially by the
Government of India in 1992 with SEBI Act 1992 being passed by the Indian
Parliament. Chaired by C B Bhave, SEBI is headquartered in the popular business
district of Bandra-Kurla complex in Mumbai, and has Northern, Eastern, Southern and
Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad. In place of

37
Government Control, a statutory and autonomous regulatory board with defined
responsibilities, to cover both development & regulation of the market, and independent
powers has been set up.

The basic objectives of the Board were identified as:

 to protect the interests of investors in securities;

 to promote the development of Securities Market;

 to regulate the securities market and

 For matters connected therewith or incidental thereto.

Since its inception SEBI has been working targeting the securities and is
attending to the fulfillment of its objectives with commendable zeal and dexterity. The
improvements in the securities markets like capitalization requirements, margining,
establishment of clearing corporations etc. reduced the risk of credit and also reduced
the market.

SEBI has introduced the comprehensive regulatory measures, prescribed

registration norms, the eligibility criteria, the code of obligations and the code of
conduct for different intermediaries like, bankers to issue, merchant bankers, brokers
and sub-brokers, registrars, portfolio managers, credit rating agencies, underwriters and
others. It has framed bye-laws, risk identification and risk management systems for
Clearing houses of stock exchanges, surveillance system etc. which has made dealing in
securities both safe and transparent to the end investor.

Another significant event is the approval of trading in stock indices (like S&P
CNX Nifty & Sensex) in 2000. A market Index is a convenient and effective product
because of the following reasons:

 It acts as a barometer for market behavior;

 It is used to benchmark portfolio performance;

 It is used in derivative instruments like index futures and index options;

 It can be used for passive fund management as in case of Index Funds.

38
 Two broad approaches of SEBI is to integrate the securities market at the
national level, and also to diversify the trading products, so that there is an increase in
number of traders including banks, financial institutions, insurance companies, mutual
funds, primary dealers etc. to transact through the Exchanges. In this context the
introduction of derivatives trading through Indian Stock Exchanges permitted by SEBI
in 2000 AD is a real landmark.

SEBI has enjoyed success as a regulator by pushing systemic reforms

aggressively and successively (e.g. the quick movement towards making the markets
electronic and paperless rolling settlement on T+2 bases). SEBI has been active in
setting up the regulations as required under law.

Stock Exchanges In India

Stock Exchanges are an organized marketplace, either corporation or mutual

organization, where members of the organization gather to trade company stocks or
other securities. The members may act either as agents for their customers, or as
principals for their own accounts.

As per the Securities Contracts Regulation Act, 1956 a stock exchange is an

association, organization or body of individuals whether incorporated or not,
established for the purpose of assisting, regulating and controlling business in buying,
selling and dealing in securities.

Stock exchanges facilitate for the issue and redemption of securities and other
financial instruments including the payment of income and dividends. The record
keeping is central but trade is linked to such physical place because modern markets are
computerized. The trade on an exchange is only by members and stock broker do have
a seat on the exchange.

39
List of Stock Exchanges in India

Bombay Stock Exchange

National Stock Exchange

OTC Exchange of India

Regional Stock Exchanges

1. Ahmedabad
2. Bangalore
3. Bhubaneswar
4. Calcutta
5. Cochin
6. Coimbatore
7. Delhi
8. Guwahati
9. Hyderabad

10. Jaipur
11. Ludhiana

12. Madhya Pradesh

13. Madras
14. Magadh
15. Mangalore
16. Meerut
17. Pune
18. Saurashtra Kutch
19. Uttar Pradesh
20. Vadodara

40
 BOMBAY STOCK EXCHANGE

GA very common name for all traders in the stock market, BSE, stands for
Bombay Stock Exchange. It is the oldest market not only in the country, but also in
Asia. In the early days, BSE was known as "The Native Share & Stock Brokers
Association." It was established in the year 1875 and became the first stock exchange
in the country to be recognized by the government. In 1956, BSE obtained a
permanent recognition from the Government of India under the Securities Contracts
(Regulation) Act, 1956.

In the past and even now, it plays a pivotal role in the development of the
country's capital market. This is recognized worldwide and its index, SENSEX, is
also tracked worldwide. Earlier it was an Association of Persons (AOP), but now it is
a demutualised and corporatised entity incorporated under the provisions of the
Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualization)
Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI).

BSE Vision

The vision of the Bombay Stock Exchange is to "Emerge as the premier

Indian stock exchange by establishing global benchmarks."

BSE Management

Bombay Stock Exchange is managed professionally by Board of Directors. It

comprises of eminent professionals, representatives of Trading Members and the
Managing Director. The Board is an inclusive one and is shaped to benefit from the
market intermediaries participation.

The Board exercises complete control and formulates larger policy issues. The
day-to-day operations of BSE are managed by the Managing Director and its school
of professional as a management team.

41
BSE Network

The Exchange reaches physically to 417 cities and towns in the country. The
framework of it has been designed to safeguard market integrity and to operate with
transparency. It provides an efficient market for the trading in equity, debt
instruments and derivatives. Its online trading system, popularly known as BOLT, is a
proprietary system and it is BS 7799-2-2002 certified. The BOLT network was
expanded, nationwide, in 1997. The surveillance and clearing & settlement functions
of the Exchange are ISO 9001:2000 certified.

BSE Facts

BSE as a brand is synonymous with capital markets in India. The BSE SENSEX is
the benchmark equity index that reflects the robustness of the economy and finance. It
was the –

 First in India to introduce Equity Derivatives

 First in India to launch a Free Float Index

 First in India to launch US$ version of BSE Sensex

 First in India to launch Exchange Enabled Internet Trading Platform

 First in India to obtain ISO certification for Surveillance, Clearing &

Settlement

 'BSE On-Line Trading System’ (BOLT) has been awarded the globally
recognized the Information Security Management System standard
BS7799-2:2002.

 First to have an exclusive facility for financial training

 Moved from Open Outcry to Electronic Trading within just 50 days

Brief Profile of Major Players

 IDBI Venture Capital Fund:

42
 This was established in1986 with the objective to finance projects whose
requirements range between Rs. 5 lakhs to 2.5 crores. The promoters’ stake
should be at least 10percent for the ventures below Rs. 50 lakhs and 15percent for
those above 50 lakhs. Financial assistance is extended in the form of unsecured
loans involving minimum legal formalities. Interest at concessional rate of
9percent is charged during technology development and trial run of production
stage and it will be 17percent once the product is commercially traded in the
market by the financially assisted firm. IDBI venture capital funds extends its
financial assistance to the ventures likely to be engaged in the fields of chemicals,
computer software, electronics, bio-technology, non-conventional energy, food
products, refractories and medical equipments.

 Technology Development and Information Company of India Limited (TDICI):

This venture Capital fund was jointly floated by Industrial Credit & Investment
Corporation of India (ICICI) and Unit Trust of India (UTI) to finance the projects
of professional technocrats who take initiative in designing and developing
indigenous technology in the country. Technology Development and Information
Company of India Limited (TDICI) was launched with an authorized capital base
of Rs. 20 crores and the same was targeted to be increased to Rs. 40 to 50 crores.
TDICI favours the firms seeking financial assistance for developing information
technology, management consultancy, pharmaceutical, veterinary biological,
environmental, engineering, non-conventional sources of energy and other
innovative services in the country.

 Unit Trust of India (UTI)

In 1988-99 UTI set-up a venture capital fund of Rs. 20 crores in collaboration

with ICICI for fostering industrial development. TDICI established by UTI jointly
with ICICI acts as an advisor and manager of the fund. UTI launched venture
capital unit scheme (VECAUS-I) to raise resources for this fund. It has set up a
second venture capital fund in March 1990 with a capital of Rs. 100 crores with
the objective of financing green field ventures and steering industrial
development.

43
 Risk Capital and Technology Finance Corporation Ltd. (RCTFC)

IFCI had sponsored in 1985, Risk Capital Foundation (RCF) to give positive
encouragement to the new entrepreneurs. RCF was converted into RCTFC on
12th January, 1988. It provides both risk capital and technology finance and roof
to innovative entrepreneurs and technocrats for their technology oriented
ventures.

 Small Industrial Development Bank of India (SIDBI)

Small Industrial Development Bank of India (SIDBI) has decided to set-up a

venture capital fund in July 1993, exclusively for support to entrepreneurs in the
small sector. Initially a corpus has been created by setting apart Rs. 10 crores. The
fund would be augmented in future, depending upon requirements.

 Andhra Pradesh Industrial Development Corporation (APIDC)

APIDC Venture Capital Ltd. (APIDC-VCL) was promoted by APIDC with an

authorized capital of Rs.2 million on 29th August 1989. Its main objective is to
encourage technology-based ventures particularly those started by first generation
technocrat entrepreneurs and ventures involving high risk in the state of Andhra
Pradesh.

 Gujarat Venture Finance Limited (GVFL)

GVFL has been promoted by the Gujarat Industrial Investment Corporation

Limited (GIIC) in 1990, to provide financial support to the ventures whose
requirements range between 25 lakhs and 2 crores. Total corpus of Rs. 24 crores
of the referred venture capital fund was co-financed by GIIC, state financial
corporation, some private corporates and World Bank. The firms engaged in
biotechnology, surgical instruments, conservation of energy and food processing
industries are financed by GVFL.

 Commercial Banks Sponsored Venture Capital Funds

State Bank of India, Canara Bank, Grindlays Bank and many other banks have
participated in the venture capital fund building Industry in order to provide

44
 financial assistance to the projects associated with high risks. SBI venture capital
is monitored through SBI capital markets. Canbanks venture capital functions
through Canbank. Financial services and India Investment Fund represents the
venture capital launched by Grindlays Bank.

Some of the Private Sector Venture Capital Funds

 ICICI ventures Fund Management

ICICI is the leading VC with $400 million. Starting with the objective of playing
the role of a value added investors with a high technology focus ICICI in 1997-
98, ICICI made 10 investments worth Rs 50 crore and it further increased to 37
with an investment of Rs 277 crore during 1999-2000.The momentum continued
in next period also i.e., from April 2000 to September 2000, 35 investments were
made with RS 290 crores. ICICI has set a record not only in making investments
but also in exiting from the companies, which made them so successful.

 20th Century Venture Capital Fund:

20th century venture capital fund has been established with a corpus of Rs. 20
crores promoted by 20th century finance company limited. The fund envisages
focus on sick industries and first generation entrepreneurs.

 Credit Capital Venture Fund (CCVF):

CCVF (India) Limited has been formed as a subsidiary of credit capital finance
corporation limited in April1989. This fund has been promoted by nearly 15
major industrial houses in the country with the objectives of reviving sick units. It
is the first private managed venture fund with a subscribed capital of Rs.10 crore
contributed to the extent of Rs.6.5 crore by international financial agencies and
the remaining raised through public subscription.

The other venture capitalists are as follows:

 Alliance Venture Capital Advisors Ltd.

 Baring Private Equity Partners

 Chrysalis Capital

45
 CDC Advisors Private Ltd.

 Draper International

 eVentures India

 Feedback Ventures

 HBSC Private Equity Management Mauritius Ltd.

 ICF Ventures

 IL & FS Venture Corporation Ltd.

 Indus Venture Management Ltd.

 Infinity Ventures

 JF Electra Advisors (I) Ltd.

 Marigold Capital Services Ltd.

 Pathfinder Investment Company Private Ltd.

 Risk Capital & Technology Finance Corp. Ltd.

 Walden Nikko

46
 NATIONAL STOCK EXCHANGE OF INDIA
LIMITED

The National Stock Exchange of India Limited has genesis in the report of the
High Powered Study Group on Establishment of New Stock Exchanges, which
recommended promotion of a National Stock Exchange by financial institutions (FI’s)
to provide access to investors from all across the country on an equal footing. Based
on the recommendations, NSE was promoted by leading Financial Institutions at the
behest of the Government of India and was incorporated in November 1992 as a tax-
paying company unlike other stock Exchange in the country.

On its recognition as a stock exchange under the Securities Contracts

(Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale
Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment
commenced operations in November 1994 and operations in Derivatives segment
commenced in June 2000.

NSE GROUP COMPANIES

National Securities Clearing Corporation Ltd. (NSCCL)

It is a wholly owned subsidiary, which was incorporated in August 1995 and

commenced clearing operations in April 1996. It was formed to build confidence in
clearing and settlement of securities, to promote and maintain the short and consistent
settlement cycles, to provide a counter-party risk guarantee and to operate a tight risk
containment system.

NSE.IT Ltd.

It is also a wholly owned subsidiary of NSE and is its IT arm. This arm of the
NSE is uniquely positioned to provide products, services and solutions for the
securities industry. NSE.IT primarily focuses on in the area of trading, broker front-

47
end and back-office, clearing and settlement, web-based, insurance, etc. Along with
this, it also provides consultancy and implementation services in Data Warehousing,
Business Continuity Plans, Site Maintenance and Backups, Stratus Mainframe
Facility Management, Real Time Market Analysis & Financial News.

India Index Services & Products Ltd. (IISL)

It is a joint venture between NSE and CRISIL Ltd. to provide a variety of

indices and index related services and products for the Indian Capital markets. It was
set up in May 1998. IISL has a consulting and licensing agreement with the Standard
and Poor's (S&P), world's leading provider of investible equity indices, for co-
branding equity indices.

National Securities Depository Ltd. (NSDL)

NSE joined hands with IDBI and UTI to promote dematerialization of

securities. This step was taken to solve problems related to trading in physical
securities. It commenced operations in November 1996.

NSE Facts

 It uses satellite communication technology to energize participation from

around 400 cities in India.

 NSE can handle up to 1 million trades per day.

 It is one of the largest interactive VSAT based stock exchanges in the world.

 The NSE- network is the largest private wide area network in India and the
first extended C- Band VSAT network in the world.

 Presently more than 9000 users are trading on the real time-online NSE
application.

Today, NSE is one of the largest exchanges in the world and still forging ahead. At
NSE, we are constantly working towards creating a more transparent, vibrant and
innovative capital market.

48
 OVER THE COUNTER EXCHANGE OF INDIA

OTCEI was incorporated in 1990 as a section 25 company under the

companies Act 1956 and is recognized as a stock exchange under section 4 of the
securities Contracts Regulation Act, 1956. The exchange was set up to aid
enterprising promotes in raising finance for new projects in a cost effective manner
and to provide investors with a transparent and efficient mode of trading Modeled
along the lines of the NASDAQ market of USA, OTCEI introduced many novel
concepts to the Indian capital markets such as screen-based nationwide trading,
sponsorship of companies, market making and scrip less trading. As a measure of
success of these efforts, the Exchange today has 115 listings and has assisted in
providing capital for enterprises that have gone on to build successful brands for
themselves like VIP Advanta, Sonora Tiles & Brilliant mineral water, etc.

Need for OTCEI:

Studies by NASSCOM, software technology parks of India, the venture

capitals funds and the government’s IT tasks Force, as well as rising interest in IT,
Pharmaceutical, Biotechnology and Media shares have repeatedly emphasized the
need for a national stock market for innovation and high growth companies.

Innovative companies are critical to developing economics like India, which is

undergoing a major technological revolution. With their abilities to generate
employment opportunities and contribute to the economy, it is essential that these
companies not only expand existing operations but also set up new units.

49
 CHAPTER IV

DATA ANALYSIS AND INTERPRETATIONS

50
1. Age of the Respondent

Table 1: Respondent’s Age

S.No. Age No. of Respondents Percentage (%)

1 <=24 8 16%
2 25-28 18 36%
3 29-32 22 44%
4 >33 2 4%
Total 50 100%
Source: Primary Data

Figure 1: Respondent’s Age

Age Of Respondents
25
22
N o . o f R e s p o n d e n ts

20 18

15

10 8

5
2

0
<=24 25-28 29-32 >33
Age

Source: Primary Data

Interpretation

The above graph illustrates that majority of the respondents i.e. people are in the age
group of 29-32 years. Eight respondents in the survey are less than or equal to 24; 18
persons are in the age between 25-28 years; and only 2 persons are aged about 33 years.

51
2. Work Experience

Table 2: Respondent’s Work Experience

S.No. Work Experience No. of Respondents Percentage (%)

1 0-1 Years 2 4%
2 1-2 Years 10 20%
3 3-5 Years 18 36%
4 5 Years & Above 20 40%
Total 50 100%
Source: Primary Data

Figure 2: Respondent’s Work Experience

Respondent’s Work Experience

25
N o . o f R e s p o n d e n ts

20
20 18

15

10
10

5
2

0
0-1 Years 1-2 Years 3-5 Years 5 Years & Above

Source: Primary Data

Interpretation

The above graph shows that majority of the respondents (40%) are with an experience of
more than 5 years and 36% are 3 - 5 years of experience. 10% of the respondents are with
1-2 years experience. The study reveals that all the respondents are well experienced, so
they are well capable of assessing the quality of their work life in the company.

52
3. How Much Similar or Related Experience is required to Perform this Job?

Table 3: Relevant Experience Required To Perform A Job

S.No. Years No. of Respondents Percentage (%)

1 0-1 Years 30 60%
2 2-3 Years 14 28%
3 4-5 Years 3 6%
4 5 Years & Above 3 6%
Total 50 100%
Source: Primary Data

Figure 3: Relevant Experience Required To Perform A Job

Edlogix, Relevant Expe rience Required To Perform A Job
30
N o . o f R e s p o n d e n ts

32
28
24
20
16 14
12
8
3 3
4
0
0-1 Years 2-3 Years 4-5 Years 5 Years & Above

Source: Primary Data

Interpretation

The above graph illustrates that 60% of respondents feel that there should be a 0-1 years
experience for performing a job in Investleaf. 14 employees, representing 28%, felt that
there should be a relevant experience of 2-3 years for performing a job.

53
4. Income Level Of The Respondents

Table 4: Respondents Income Levels

S.No. Reasons No. of Respondents Percentage (%)

1 <5,000 Rs - 0%
2 5,000 – 10,000 19 38%
3 10,000 – 20,000 30 60%
4 Above 20,000 1 2%
Total 50 100%
Source: Primary Data

Figure 4: Respondents Income Levels

N o . o f R e s p o n d e n ts

36
30

24
19

12

0 1
0
<5,000 Rs 5,000 – 10,000 10,000 – 20,000 Above 20,000

Source: Primary Data

Interpretation

The above table shows that over 60% of the respondents are in the higher income group of
more than Rs. 10,000 income per month. Hence it can be concluded that monetary benefits
are not a constraint to assess the quality of work life, in the study unit.

5. Respondents Based On Their Leave In A Month

Table 5: Leaves Taken In A Month By Employee

54
 S.No. Option No. of Respondents Percentage (%)
1 0 10 20%
2 1-5 23 46%
3 6-10 04 08%
4 10-15 10 20%
5 16-20 03 06%
Total 50 100%
Source: Primary Data

Figure 5: Leaves Taken In A Month By Employee

Leaves Taken In A Month By Employee

N o . o f R e s p o n d e n ts

25 23

20

15

10 10
10

5 4
3

0
0 1-5 6-10 10-15 16-20

Source: Primary Data

Interpretation

The above chart infers that 20 % belongs to 0 days, 46% belongs to 1-5days, 08% belongs
to 6-10 days, 20% belongs to 10-15 days, and 06% belongs to 16-20 days.

6. Respondents Based On Their Leave Affecting Their Company Output

Table 6: Leaves Affecting The Company Output

S.No. Option No. of Respondents Percentage (%)

1 Yes 39 78%
2 No 11 22%
Total 50 100%
Source: Primary Data

55
 Figure 6: Leaves Affecting The Company Output

No
22%

Yes
78%

Source: Primary Data

Interpretation

The above graph indicates that 78% are saying that company’s output will get effected if
employees taken leaves frequently, while 22% of the respondents, representing 11 people,
said that it will not effect the company’s output if employees takes leaves.

56
7. Respondents Based On Their Employees Skill

Table 7: Respondents Based On Their Employees Skill

S.No. Option No. of Respondents Percentage (%)

1 Good 35 70%
Fair 10 20%
2 Poor 05 10%
Total 50 100%
Source: Primary Data

Figure 7: Respondents Based On Their Employees Skill

Poor
10%

Fair
20%

Good
70%

Source: Primary Data

Interpretation
Of the 50 sample chosen, 70% belongs to Good, 20% belongs to Fair and 10 % belongs to
Poor.

8. Respondents Based On Their Salary Paid

Table 8: Respondents Based On Their Salary Paid

57
 S.No. Option No. of Respondents Percentage (%)
1 Sufficient 20 40%

2 In sufficient 10 20%

3 Neutral 05 10%
Moderately 15 30%
4
Insufficient
Total 50 100%
Source: Primary Data

Figure 8: Respondents Based On Their Salary Paid

24
N o . o f R e s p o n d e n ts

20

16 15

10

8
5

0
Sufficient In sufficient Neutral Moderately Insufficient
Attributes

Source: Primary Data

Interpretation

The above graph illustrates that majority of the employees feel that Employees salary
will definitely result in high productivity of an organization. 40% belongs to
Sufficient, 20% belongs to Insufficient, 10%belongs to Neutral and 30% belongs to
moderatelyinsufficient.

58
9. Satisfaction Regarding The Job

Table 9: Satisfaction Regarding The Job

S.No. Option No. of Respondents Percentage (%)

1 Excellent 22 44%
2 Very Good 18 36%
3 Good 10 20%
4 Poor 0 0%
Total 50 100%
Source: Primary Data

Figure 9: Satisfaction Regarding The Job

25
22
N o . o f R e s p o n d e n ts

20 18

15

10
10

0
0
Excellent Very Good Good Poor

Source: Primary Data

Interpretation

The above graph shows that majority of the employees feel that the job role given is
excellent in the company. Out of the total sample of respondents, 44% are saying that job
is excellent, 36% are saying very good, and 20% are saying good.

59
10. Respondents Based On Their Facilities Provided By The Company

Table 10: Respondents Based On Their Facilities Provided By The Company

S.No. Option No. of Respondents Percentage (%)

Providing Good Working
1
Environment 22 44%
2 Providing Good Pay Scale 16 32%
3 Others 12 24%
Total 50 100%
Source: Primary Data

Figure 10: Respondents Based On Their Facilities Provided By The Company

Others
24%
Good Working
Environment
44%

Providing Good
Allowances
32%

Source: Primary Data

Interpretation

Of the total sample, 44% are saying that good working environment is the major facility
provided by the company,32% are saying that the company is providing good pay scale
and 24% are said some other options.

60
11. Regarding leave structure

Table 11: Leave Structure Of The Company

S.No. Option No. of Respondents Percentage (%)

1 Excellent 28 56%
2 Very good 8 16%
3 Good 10 20%
4 Poor 4 8%
Total 50 100%
Source: Primary Data

Figure 11: Leave Structure Of The Company

Poor
Good 8%
20%

Very good Exce lle nt

16% 56%

Source: Primary Data

Interpretation

The above graph indicates that 56% of respondents, representing 28 people, said that that
leave structure is excellent,.16% are saying very good, 20% are saying good and 8% are
saying its poor.

61
12. Respondents Based On Their Procedure For Taking Leave

Table 12: Procedure For Taking Leave

S.No. Option No. of Respondents Percentage (%)

1 Giving a Leave Letter 39 78%
2 Not Giving a Leave Letter 04 08%
3 Asking Permission 07 14%
4 No Leave 0 0%
Total 50 100%
Source: Primary Data

Figure 12: Procedure For Taking Leave

Giving a Leave
Asking Letter
Permission 78%
14%

Not Giving a
Leave Letter
8%

Source: Primary Data

Interpretation

Out of the total sample of respondents, 78% are saying that they are taking leaving by
submitting a leave letter to his/her manager, while 14% said that they take prior
permission for taking a leave. Only 8% said that they take leave without submitting a
leave letter.
13. Respondents Based On Their Reason For Taking Leave

Table 13: Respondents Based On Their Reason For Taking Leave

62
 S.No. Option No. of Respondents Percentage (%)
1 Personal Problem 15 30%
2 Health Problem 20 40%
3 Finance Problem 07 14%
4 Working Environment 04 08%
5 Others 04 08%
Total 50 100%
Source: Primary Data

Figure 13: Respondents Based On Their Reason For Taking Leave

Pe rsonal
Proble m
30%
Othe rs
8%
Working
Environme nt He alth
8% Proble m
Finance
40%
Proble m
14%

Source: Primary Data

Interpretation

The above chart infers that 30% take leave due to Personnel problems, 40% said due to
Health problems, 14 % said due to Finance problems, 08 % belongs to working
environment, and 08 % belongs to others.

63
14. Respondents Based On Their Absent Due To Transportation Problem

Table 14: Absent Due To Transportation Problem

S.No. Option No. of Respondents Percentage (%)

1 In Some cases 23 46%
2 Often 05 10%
3 Rare 12 24%
4 Not At All 10 20%
Total 50 100%
Source: Primary Data

Figure 14: Absent Due To Transportation Problem

In Some cas e s
46%

Not At All
20%
Ofte n
10%
Rare
24%

Source: Primary Data

Interpretation

Of the 50 sample chosen, 46% said that they will absent to the office in some cases when
there is a transportation problem, while 10% belongs to often, 24% belongs to rare, and
20% belongs to not at all.

64
15. Respondents Based On Leave Whenever You Want

Table 15: Taking Leaves Whenever Required

S.No. Option No. of Respondents Percentage (%)

1 Yes 04 08%
2 No 46 92%
Total 50 100%
Source: Primary Data

Figure 15: Taking Leaves Whenever Required

Ye s
8%

No
92%

Source: Primary Data

Interpretation

The above graph indicates that out of the total sample of respondents, 92% are saying that
the company will not approve leave whenever required, while only 8% are saying they
will be getting leaves whenever required.
16. Respondents Based On Insufficient Rest Pause

65
Table 16: Insufficient Rest Pause Lead To Absenteeism

S.No. Option No. of Respondents Percentage (%)

1 More 29 58%
2 Less 05 10%
3 Tolerable 16 32%
Total 50 100%
Source: Primary Data

Figure 16: Insufficient Rest Pause Lead To Absenteeism

M ore
58%

Tole rable
32%
Le s s
10%

Source: Primary Data

Interpretation

The above graph indicates that 58% of respondents, representing 29 people said that
insufficient rest pause is one of the major reason for absent, while 10% said that it is less,
and 32% said it is tolerable.

66
 16. Respondents Based On Motivation Technique

Table 17: Motivation Technique Used By the Company To Make Employees Come Regular
To The Work

S.No. Option No. of Respondents Percentage (%)

1 Incentives 18 36%
2 Bonus 16 32%
3 Allowance 14 28%
4 Others 2 04%
Total 50 100%
Source: Primary Data

Figure 17: Motivation Technique Used By the Company To Make Employees Come
Regular To The Work
N o . o f R e s p o n d e n ts

20
18
16
15 14

10

5
2

0
Incentives Bonus Allowance Others

Source: Primary Data

Interpretation

The above graph indicates that 36% are saying that the company motivates the employees
by giving incetives more to make employees come regular to the work, 32% said it is
bonus, and 28% said it is allowances which is the major motivational technique used by
the company.
17. Respondents Based On Their Preference Of Shifts To Reduce Absenteeism

67
Table 18: Respondents Based On Their Preference Of Shifts To Reduce Absenteeism

S.No. Option No. of Respondents Percentage (%)

1 General Shift 22 44%
2 Morning Shift 21 42%
3 Evening Shift 07 14%
Total 50 100%
Source: Primary Data

Figure 18: Respondents Based On Their Preference Of Shifts To Reduce Absenteeism

Ge ne ral Shift
44%

Eve ning Shift

14%

Morning Shift
42%

Source: Primary Data

Interpretation

The above graph indicates that 44% of the respondents prefer general shift, 42% prefer
morning shift and only 14% prefer evening shift.

68
18. Respondents Based On Their Need Of Additional Leave

Table 19: Respondents Based On Their Need Of Additional Leave

S.No. Option No. of Respondents Percentage (%)

1 Yes 25 50%
2 No 25 50%
Total 50 100%
Source: Primary Data

Figure 19: Respondents Based On Their Need Of Additional Leave

No
50% Ye s
50%

Source: Primary Data

Interpretation

The above graph infers that 50% says yes, 50%says no for the need of additional leave.

69
19. Respondents Based On Their Expected Facilities Needed

Table 20: Facilities Needed By Employees To Reduce Abenteesim

S.No. Option No. of Respondents Percentage (%)

1 Medical Facilities 11 22%
2 Transport Facilities 30 60%
3 Others 09 18%
Total 50 100%
Source: Primary Data

Figure 20: Facilities Needed By Employees To Reduce Abenteesim

Me dical
Facilitie s
22%

Othe rs
18% Trans port
Facilitie s
60%

Source: Primary Data

Interpretation

The above graph infers that 22%, representing 11 people, said that expect more medical
facitilites to be provided by the company for reducing abseteesim, while 60% said they
require transport facilities and 18 % said for some others.

FINDINGS

 Majority of the respondents i.e. people are in the age group of 29-32 years

70
 Majority of the respondents (40%) are with an experience of more than 5
years and 36% are 3 - 5 years of experience

 60% of respondents feel that there should be a 0-1 years experience for
performing a job in Investleaf

 60% of the respondents are in the higher income group of more than Rs.
10,000 income per month

 Investleaf provides excellent recreation facility for top management.

 All team members are worked with co-operation and co-ordination.

 There are cordial relations among managers and employees.

 Some of employees are feel dissatisfaction with low level increment of salary.

 They are not providing any national or festival holidays to the team members
due to this they dissatisfaction in working on holidays environment

 46% of the employees of the company take 1-5 days leave in a month

 78% are saying that company’s output will get effected if employees taken
leaves frequently

 56% of respondents, representing 28 people, said that that leave structure is

excellent

 78% said that they are taking leaving by submitting a leave letter to his/her
manager

 46% said that they will absent to the office in some cases when there is a
transportation problem

 92% are saying that the company will not approve leave whenever required

 58% of respondents, representing 29 people said that employees are having

more insufficient rest pause

71
  36% are saying that the company motivates the employees by giving incetives
more, 32% said it is bonus, and 28% said it is allowances

LIMITATIONS

Every study has its own limitations in terms of methodology and available resources
for its conduct. This study was not an exception and was carried out under the
following limitations:

 The research was confined to only Investleaf Management Solutions in

Madhapur area of Hyderabad region

 The study is limited to employee absenteeism only. Others are not taken into
the purview of the study

 The respondents may not have expressed them strong negative feelings about
the policies, which results in the error of central tendency

 Some of the employees were reluctant to provide the exact information

required for the project

 Few respondents were reluctant while answering the questions

 The time was also one of the hindrances in the research

 Some important information was not there due to confidentiality involved in it

 Accuracy of the study is limited due to the possible bias of the respondents

72
 CHAPTER V

SUGGESTIONS & CONCLUSION

73
 SUGGESTIONS

According to survey conducted, the organization should concentrate on aspects

suggested by employee. The following are the improvements that the organization
should make for employee satisfaction so that it can reduce absenteeism.

 In order to minimize the rate of absenteeism the company could take care of
employee’s health’s especially in production unit.

 Introducing attendance management programme.

 I suggest that by taking disciplinary action which will minimize absenteeism.

 Introducing medical facilities for employees and employee’s family member.

 Providing transport facilities for all employees

 Motivating the employee by monetary and non monetary awards for those
who are completed 100% attendance.

 To improve safety awareness among employee by educating them on health

aspects conducting safety work shop and to reduce noise pollution in few
department.

74
 CONCLUSION

Investleaf Management Solutions is a financial services company located in

Hyderabad, India. The company has excellent intellectual team for guiding the
employees and provides better solutions. It has large network and contacts in multiple
industries across India.

Here the employees are treated with greater with respect and taking care of
their employees. But when it came to application some of the measures were not up to
the mark in implementation. But the employees are well satisfied. Even though
company is providing with sufficient facilities to the employees to an extent, the
company may provide some more facilities like proper ventilation, medical facilities
transport facilities and welfare actives which would reduce absenteeism and enhances
the employees to work more efficiently and effectively for achieving the
organizational objectives.

So my sincere suggestions are is the company provide overtime benefits and

also provide compensatory holidays in addition to weekly off then the employees feel
happy.

To conclude, employees’ dissatisfaction towards job & welfare measures,

hectic work schedule, stress, health problems are some of the major causes of
absenteeism. This can be reduced by the management by implementing various
employee satisfactory changes in the organization. People are the major assets of any
organization and taking care of their welfare and satisfaction is their duty as a whole
apart from earning profit. As work environment is becoming more challenging and
complex, the management must also see through it that, it is capable of managing and
bringing in changes at the same pace so as to survive in this competitive scenario.

75
 BIBLIOGRAPHY

Books

1. Aswathappa, Human Resource and Personal Management, Tata McGraw Hill.

2. Wayne F .Cacao, Managing Human Resource, Tata McGraw Hill

3. John M. Ivancevich, Human Resource and Personal Management, Tata McGraw

Hill.

4. C. R. Kothari, Research Methodology” of Wishwa Prakashan Publishing.

5. Kothari, C.R., Research Methodology - Methods & Techniques, New Age

international (P) Ltd., Publishers, New Delhi ,Second Edition ,2004.

6. Gupta, S.P., Statistical Methods, Sultan Chand & Sons Publishers, New Delhi,
Thirty Fourth Editions, 2005.

7. Prasath L.M.,Human resources management , Sultan Chand & Sons Publishers, ,

New Delhi, Thirty Fourth Editions, 2005.

8. Reddy& Rao –Absenteeism in India , Deep , publication , New Delhi

Web Sites:

http://www.investleaf.com

http://www.google.com

http://citehr.com

www.industrialrelations.com

76
 ANNEXURE

This study is a part of our course curriculum and is being conducted for Investleaf
Management Solutions. The purpose of this study is to determine the employee
welfare activities prevalent in the financial services industry. Your responses will be
kept confidential and the information obtained will be used in aggregate and not in
person. We are grateful to you for your time and effort.

Questionnaire’s:

Name:

Gender:

Respondent’s Age [ ]

a) <=24 b) 25-28 c) 29-32 d) >33

1. Department:

a) production b) packing c) Maintenance [ ]

2. Work Experience [ ]

a) 0-1 Years b) 1-2 Years c) 3-5 Years d) 5 Years & Above

3. How Much Similar or Related Experience is required to Perform this Job?

a) 0-1 Years b) 2-3 Years

c) 4-5 Years d) 5 Years & Above

77
4. Income Level Of The Respondents?
a) 5,000 Rs b) 5,000 – 10,000
c) 10,000 – 20,000 d) Above 20,000

5. How many days do you take leave in a month?

a) 0 b) 1 - 5 c) 6 - 10
d) 1 0 - 1 5 e) 16 - 20

6. Does your leave will affect the company output?

a) Yes b) no

7. How much your company utilizing the employee skills?

a) Good b) Fair c) Poor

8. About the salary paid by the company?

a) Sufficient b) Insufficient
c) Neutral d) Moderately sufficient

9. Are you satisfied with your existing job?

a) Highly Satisfied b) Satisfied c) Neutral
d) Dissatisfied e) Highly dissatisfied

10. How do you feel about your facilities provided by the company?
a) Highly Satisfied b) Satisfied c) Neutral
d) Dissatisfied e) Highly dissatisfied

11. What is the procedure for taking leave in your organization?

a) Giving a leave letter b) Not giving a leave letter
c) Asking a permission d) No leave

78
12. Reason for taking leave?
a) Personal Problem b) Health problem c) Finance problem
d) Working environment e) Others

13. How often do you absent due to transportation problem?

a) In some cases b) Often c) Rare d) Not at all

14. Is it possible to get leave whenever you want?

a) Yes b) No

15. Do you tell insufficient rest pause is one of the reasons for absent?
a) More b) Less c) Tolerable

16. What type of motivation techniques adopted for employees regular to the work?
a) Incentives b) Bonus c) Allowances

17 . To reduce absenteeism which shifts do you prefer if it is adopted?

a) General Shift b) Weekly Shift c) Monthly shift

18. Do you need additional leave?

a) Yes b) No

19. What type facilities do you except from the management to reduce absenteeism?
a) Medical facilities b) Transport facilities c) Others, please
specify____
20. Any suggestion to reduce absenteeism_____________________________

79