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Finel - MBA HR PROJECT IN RTMNU

Business Research (Rashtrasant Tukadoji Maharaj Nagpur University)

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A
Project Report
On
<HR POLICIES OF LOOYDS STEEL
INDUSTRIES LTD. WARDHA=

Submitted to R.T.M. Nagpur University, Nagpur in Partial

fulfillment of the requirement for the degree Master of Business
Administration.

Submitted by
Mrs. ANUJA BUTLE

Under The Guidance of

DR.SMITA KALOKAR

Ranibai Agnihotri Institute of Computer and

Information Technology Wardha, 442001
Session 2019-2020

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CERTIFICATE

This is to certify that Mrs anuja butle is a bonafied student of

M.B.A IV Semester of Ranibai Agnihotri institute of Computer &
Information Technology Wardha for the academic session 2019-2020
has completed his project work entitled <A STUDY OF HR PLOICIES
OF LOOYDS STEEL INDUSTRIES LTD. WARDHA.= Under The
Guidance of Dr.Smita Kalokar.
This Project report submitted to Rashtrasanta Tukdoji Maharaj
Nagpur University, Nagpur in Partial fulfillment of the requirement of
the degree of Master of Business Administration.

Director Project Guide

DR.SMITA KALOKAR

Date :

Place : WARDHA

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DECLARATION

This is to declare that I Mrs anuja butle student of Ranibai Agnihotri

institute of Computer & Information Technology Wardha have
given original data & information to the best of my knowledge in
the project report titled <A STUDY OF HR PLOICIES OF LOOYDS
STEEL INDUSTRIES LTD. WARDHA= under the guidance of dr
smita kalokar and that, no part of this work has been used for any
other assignment but for fulfillment of the requirement towards the
completion of the said course. I have prepared this project
independently and I have gathered all the relevant information
personally.

Date : Mrs. ANUJA BUTLE

Place :Wardha M.B.A IV semester

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INDEX
SR. NO. PARTICULARS PAGE
NO.
1 INTRODUCTION OF TOPIC

2 COMPANY PROFILE

3 RESEARCH METHODOLOGY
A. OBJECTIVES
B. SCOPE OF THE STUDY
C. HYPOTHESIS
D. SAMPLE SIZE
E. DATA COLLECTION
F. LIMITATIONS

4 DATA INTERPRETATION

6 CONCLUSION & FINDING

9 SUGGESTION

10 BIBLIOGRAPHY

11 ANNEXURE

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INTRODUCTION

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INTRODUCTION
Human Resource

Every organization is made up of people and function through people

called the human resource who come from different walks of life & who
are different from one another in their psychological makeup. The values
and attitudes and beliefs of the individuals involved are Human resources
which consist of knowledge, skills, creative abilities, talents and
aptitude.
<Of all resources manpower is the only resource which does not
depreciate, with the passage of time.=

With the help of acquired knowledge and talents, a human being is

capable of producing new ideas, developing and improving capital goods
and modifying the available physical and financial resources in order to
satisfy his needs and the goals set by an organization. Environmental
factors like education, training and development are also modified by
quality & quantity of Human resources.
As Sophocles said: < The wonder of wonder is man , who has infinite
capacity to think, to develop, to invent, to feel, to love, to give, to kill, to
respect and to hate, analyze or destroy.=

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Human resource development (HRD) is an provides the possibility of

performance change and improvement towards individuals and groups
through development of their knowledge, skills and abilities (KSA’s)
necessary for the successful performance of the organization. Our HRD
area covers training and development, organizational development,
career development and HR practices.
The main point of Office of Human Resources is for the hiring, job
posting, benefits administration and counseling, salaries and wages,
promotion, and
employee training at the university. The Human Resources will
collect appropriate statistical data, maintain and analyze information with
respect to personnel transactions (such as promotions, terminations, hires,
and transfers).
An organization's most valued assets are the people working there who
individually and collectively contribute to the achievement of the
objectives of the business. The terms "human resource management"
and "human resources" (HR) have largely replaced the term "personnel
management" as a description of the processes involved in managing
people in organizations.

The Human Resource Policy Manual is not intended to be a contract of

employment, express or implied, between any employee and the
University of Notre Dame. Indiana is an <at will= employment state. This
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means that either the employee or the University may end the
employment relationship at any time without cause.
The study of HR practices and activities gives the extent of success and
failure of policies and practices. Research of human resource
management provides an understanding of practices, policies that are
successful and those which are not, what changes are necessary and in
what area of personnel management.

Human Resource Policies

Human resource policies are systems of codified decisions, established

by an organization, to support administrative personnel functions,
performance management, employee relations and resource planning.
Each company has a different set of circumstances, and so develops an
individual set of human resource policies.

The establishment of policies can help an organization to

demonstrate, both internally and externally, that it should meets the
requirements for diversity, ethics, training regulation and corporate
governance of its employees. The establishment of an HR Policy which
sets out obligations, standards of behavior and document disciplinary
procedures, is now the standard approach to meet these obligations. HR
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policies can also be very effective at supporting and building the desired
organizational culture. For example recruitment and retention policies
might draw the way the organization values a flexible workforce,
compensation policies might support this by offering a 48/52 pay option
where employees can take an extra four weeks holidays per year and
receive less pay across the year.
Policies are general statements that guide thinking and action in decision
making process. HR policies or personnel policies are generally guide
the managers on a number of issues like recruitment, selection,
promotion and compensation.

Important Features of HR Policies are:

It is generally derived from the personnel objectives of an

organization.
It helps managers to form useful guidelines in decision making
process.
It helps managers and subordinates to deprive of repetitive
problems.
It facilitates the transfer of decision making process to lower
level of organization.
Personnel policies and procedures.

In Order to provide guidelines to all employees including personnel

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department staff, personal policies are formulated. Policies are

implemented by procedures, and procedures are called <action guidelines=.
Where policies define an abroad field, procedure shows a sequence of
activities within that area.

“Policies are basic rules to govern the functioning of a department so

that in their implementation the desired objectives are met.=

Personnel policies should be stable, yet flexible according to conditions.

There should be consistency in the application of personnel policies over
a period of time, in all departments and all level of employees of the
same category. But it should not imply rigidly. Once a policy is
implemented, the personnel department needs to monitor feedback on its
implementation from the actual administrator of the policy. Policy has to
be evaluated in terms of organizational requirements, better relation
between employee-employer and for betterment of employees’ career
and development.

Manpower planning
<Great vision without great people is irrelevant=.

Jim Collins

Any organization on the basis of its requirements, plan for the right
number and skills of human force for its present and future needs and
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after doing planning , recruitment and selection process can begin .After
selecting an employee the next step is to place the <right man right job=.

According to Geisler-<manpower planning is the process including

forecasting, developing and controlling- by which a firm ensures that it
has the right number of people and the right kind of people at the right
place at the right time doing work for which they are economically most
useful.=

Manpower planning is determination of right number and right skills

of human force to suit present and future needs. Manpower planning is
defined by strainer

“strategy for the requisition, utilization, improvement and preservation

of an enterprise’s human resource. It relates to establishing job
specifications or the quantitative requirements of jobs determining the
number of personnel required and developing sources of manpower.=
Manpower planning is a process determining requirements of right
number and right kind of human force at right place and right time.

Objectives of manpower planning are to ensure optimum use of human

resources currently employed. To assess future skills requirement, to
provide control measures to ensure that necessary resources are available
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as and when required, to determine requirement level, to anticipate

redundancies and avoid unnecessary dismissals and assess training and
development needs.

The main objective of manpower planning is the optimum utilization of

human resources. Through effective manpower planning, effectiveness
of human resources can be optimizing.

Manpower Planning which is also called as Human Resource Planning

consists right number of people, right kind of people at the right place,
right time, doing the right things for which they are suited for the
achievement of goals of the organization.
Adeoye (2002) has opinion of manpower planning that MP is the
supply and demand of human resources in accordance to the manpower
requirements within the organization. The main aim of developing a well-
trained manpower development programmes is to develop the satisfaction
of the employees.

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HUMAN RESOURCE PLOICES

Human Resource Policies refers to principles and rules of conduct

which <formulate, redefine, break into details and decide a number
of actions= that govern the relationship with employees in the
attainment of the organization objectives.

HR Policies cover the following:

1. Policy of hiring people with due respect to factors like

reservations, sex, marital status, and the like.
2. Policy on terms and conditions of employment-
compensation policy and methods, hours of work,
overtime, promotion, transfer, lay-off and the like.
3. Policy with regard medical assistance-sickness
benefits, ESI and company medical benefits.
4. Policy regarding housing, transport, uniform and
allowances.
5. Policy regarding training and development-need for,
methods of, and frequency of training and
development.
Policy regarding industrial relations, trade-union recognition,
collective bargaining, grievance procedure, participative management and
communication with workers.

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FORMULATING POLICIES

There are five principal sources for determining the content and
meaning of policies:

1. Past practice in the organization.

2. Prevailing practice in rival companies.

3. Attitudes and philosophy of founders of the company as

also its directors and the top management.

4. Attitudes and philosophy of middle and lower management.

The knowledge and experience gained from handling countless

personnel problems on day to day basis.

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BENEFITS OF HR POLICIES

Organizations should have personnel policies as they ensure the

following benefits:
a. The work involved in formulating policies requires that the
management give deep thought to the basic needs of both the
organization and the employees. The management must
examine its basic convictions as well as give full
consideration to the prevailing practices in other
organizations.
b. Established policies ensure consistent treatment of all
personnel throughout the organization. Favoritism and
discrimination are, thereby, minimized.
c. Continuity of action is assured even though top management
personnel change. The CEO of a company may possess a very
sound personnel management philosophy. He/she may carry
the policies of the organization in his/her head, and he she
may apply them in an entirely fair manner. But what happens
when he/she retires? The tenure of office of nay manager is
finite. But the organization continues. Policies promote
stability.
d. Policies serve as a standard of performance. Actual results
can be compared with the policy to determine how well the
members of the organization are living upto the professional
intentions.
e. Sound policies help build employee motivation and loyalty.
This is especially true where the policies reflect established
principles of fair play and justice and where they help people
grow within the organization.
Sound policies help resolve intrapersonal, interpersonal and
intergroup conflicts.

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PRINCIPLES OF HR POLICY

1. Principle of individual development to offer full and equal

opportunities to every employee to realize his/her full
potential.

2. Principle of scientific selection to select the right person for

the right job.

3. Principle of free flow of communication to keep all channels

of communication open and encourage upward, downward,
horizontal, formal and informal communication.

4. Principle of participation to associate employee

representatives at every level of decision-making.

5. Principle of fair remuneration to pay fair and equitable wages

and salaries commensurating with jobs.

6. Principle of incentive to recognize and reward good performance.

7. Principle of dignity of labour to treat every job and every job

holder with dignity and respect.

8. Principle of labour management co-operation to promote

cordial industrial relations.

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COMPANY PROFILE

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COMPANY PROFILE

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About the Company:

Lloyds Steels –is established in year 1974 at Andheri, Mumbai and

subsequently shifted its shop and converted into heavy fabrication,
machine building unit at Murbad, Thane Dist. Maharashtra. Work shop is
located at Murbad Dist Thane approx 100 KMS away from Head office in
Mumbai.

Designer and Manufacturer of Heavy Equipment, Machinery and

Systems for Hydro Carbon Sector, Oil & Gas, Steel Plants, Power Plants,
Nuclear Plant Boilers and Turnkey Projects.

Our workshop is accredited with ISO 9001:2015 certification by SGS,

UK.

Our workshop is also approved / enlisted by international consultants like

Thyssenkrupp, Tecnimont, Aker Kvaerner, Jacobs, EIL, UHDE, PESO,
IBR, LINDE, PDIL, TOYO, Technip, MECON, MN Dastur, SMS Group
etc.

We have successfully achieved ASME Certifications like ASME U

Stamp, ASME U2 Stamp, ASME S Stamp, R Stamp (NB).

Regularly undertaking jobs with reputed Inspection Agencies like Lloyds,

ABS, BV, TUV, DNV, CEL, SGS, IRS etc.

Our workshop facility includes forming of dished ends, Heat treatment

furnaces, Machine shop, Plate bending machine up to 100 mm thickness
x 3000 width, Tube & Pipe bending machines, Sand Blasting Facilities,
NDT testing.

Qualified IBR welders in Carbon Steel and Alloy steel welding ( Arc,
TRG, Sub merged Arc welding )
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Cranes capacity for handling single job of 140 MT.

Technical tie ups / associations

 FMC Technologies SA France - Marine, Truck, Wagon loading
arms & Piggable systems.
 Calzoni S.R.L. Milano Italy - Calzoni S.R.L. Milano Italy

BOARD Committees
Audit Committee
The Audit Committee comprises Mr. Satyendra Narain
Singh, Mrs. Bela Sundar Rajan and Mr. A. Lakshman as Independent
Directors.

Mr. Satyendra Narain Singh is the Chairman of the Committee.

Nomination & Remuneration Committee

The Nomination and Remuneration Committee comprises Mr. A.
Lakshman, Mr. Satyendra Narain Singh and Mrs. Bela Sundar Rajan as
Independent Directors.

Mr. A. Lakshman is the Chairman of the Committee.

Stakeholders’ Relationship Committee

The Stakeholders' Relationship Committee comprises Mrs. Bela Sundar
Rajan, Mr. Satyendra Narain Singh and Mr. Mr. A. Lakshman as
Independent Directors.

Mrs. Bela Sundar Rajan is the Chairman of the Committee.

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Lloyds Steels Industries Ltd. Company History and Annual

Growth Details

Lloyds Steel Â-Engineering Division is established in the year 1974

at Andheri, Mumbai and subsequently shifted its work shop and converted
into heavy fabrication, machine building unit at Murbad, Dist. Thane,
Maharashtra. Designer and manufacturer of Heavy Equipment, Systems,
Machines for Hydro Carbon, Oil & Gas,Steel Plants, Power Plants, Boilers,
Loading Arms, Marine Equipment's, Solar System, Water Treatment Plant
and Turnkey Projects. Our workshop is accredited with ISO 9001:2008
certification by SGS, United Kingdom. Our workshop is approved /
enlisted by international consultants like EIL Uhde, Tecnimont ICB, Aker
Kvaerner, Jacobs H & G, Lurgi, PDIL, MECON, Dastur & Company, Toyo
etc. Regularly undertaking jobs with reputed Inspection Agencies like
Lloyds, ABS, BV, TUV, DNV, CEL, SGS, IRS, etc. Our work shop facility
includes forming of dished ends, Heat treatment furnaces, Machine shop,
Plate bending machine up to 100 mm thickness x 3000 width, Tube and
Pipe bending machines, Sand Blasting Facilities, NDT testing. Qualified
IBR welders in Carbon steel and Alloy steel welding ( Arc, TRG, Sub
merged Arc welding) Cranes capacity for handling single job of 140 MT.
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Tools Bulk Deals Lloyds Steels Industries Ltd. Company Details Company
Profile Company History Management Team Capital Structure Product
Mix Banker/Auditor/Registrar Company History BSE Price History NSE
Price History Lloyds Steels Industries Ltd. Key Financial Ratios Ratios
Lloyds Steels Industries Ltd. Results Quarterly Results Half Yearly Results
Nine Months Results Annual Results Lloyds Steels Industries Ltd.
Financial Data Audited Results Cash Flow Balance Sheet Lloyds Steels
Industries Ltd. Reports Accounting Policies Auditors Report Directors
Report Notes To Account Lloyds Steels Industries Ltd. Corporate
Announcements Book Closure Board Meetings News Nifty Trades Flat,
ONGC Drops Nifty Ends Lower, Gives-Up Day’s Gains Nifty Opens
Higher, Global Cues Firm Nifty Ends Lower, Coal India Slumps 5% Nifty
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Nifty Ends 160 Points Higher, Sees Fourth Straight Day Of Gains Nifty
Trades Higher, IT Stocks Weak Nifty Sees Third Straight Day Of Gains,
Bajaj Group Stocks Gain Nifty Trades Higher, Sensex Crosses 35,000
Points Nifty Mid-Cap And Nifty Small Cap Index To See Exclusion And
Inclusion Of These Stocks Markets

Products & Projects

Hydrocarbon Sector Equipment

Diverse range of materials of construction handled including :
Sandvik grade materials 2 RE69 / 2RE10 for fertilizer plants
SA 203 GRF – 3-1/2% nickel steel for Barge Mounted Ammonia
Storage Tanks (ABS inspection)
Low Alloy Steel, Low Ferrite Content Steel.
Non-ferrous including Titanium tubes, Cupro-Nickel, Copper,
Admiralty Brass, Naval Bronze, Monel, Aluminium Bronze.
Clad Satinless Steel, Clad Monel
Glass flake lining for Deoxy Tower for ONGC, Gandhar.

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Nuclear

We have executed orders for Design Supply of Heavy Water Vapour

Recovery System Equipment in year 2003-2004 for their Kiaga Atomic
Power Plant & Rajasthan Atomic Power Plant
The total order value till date executed is more than Rs 5000 lakhs
At Present we are executing order of Tanks and Vessels for KAPP 3 & 4
and RAPP 7 & 8 project of NPCIL
Design code is ASME SEC-III : Rules for construction of nuclear
facility components
subsection class-1 NB : attachment within the reactor pressure vessel that
do not perform a pressure retaining function
subsection class-2 NC/ND : attachment that perform a pressure retaining
function

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 Steering Gears with Controls for P28

 Hydraulic Power Pack Assembly For ASW Corvette Class Steering
Gear
 ASW Corvett Class Ship – INS Kamorta, INS Kadmatt, INS Kiltan
and INS Kavaratti Ship build by GRSE Kolkata.

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Power Pack for Fin Stabilizer Coast Guard Off Shore Petrol Vessel

Power Pack for Fin Stabilizer Coast Guard Off Shore Petrol Vessel

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RESEARCH METHODOLOGY

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RESEARCH METHODOLOGY

RESEARCH DESIGN OF THE STUDY

Marketing research can be defined as the systematic design,

collection, analysis, and reporting of the data and finding relevant to a
specific marketing situation facing the company.

Research design is the basic plan which guides the researchers in the
collection and analysis of data required for practicing the research product.
In fact the research design is the conceptual structure with which research
is conducted. It consist the blue print for the collection, measurement and
analysis of the data that was followed completing the study to ensure that
study is relevant to the problem and will follow the predetermined and set
data.
The main data feature of <Research Design= is that it specifies
population to be studied. The main them of the chapter is to know the
source of the data the researcher has collected. Data are raw facts of
observation, typically about physical phenomenon.

Descriptive research :

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The research design selected for this research is descriptive research

design.
METHODOLOGY:

Collection of the data for the study can be drawn from following
methods for

study.

Sources of the data:

After determining the objectives of study and research design, the

next important step is data is step collection method. The information has
to be collected from the retailers. During the process of the study the data
is collected from the target segment that is customers, dealers and
distributors with help of a structured well designed questionnaire.

Data is collected from

Primary data

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Secondary data

Primary data

It was collected through questionnaire prepared contains relevant

questions that are both close ended and opened. Individual and group
interviews also under taken with difference consumers,
I have collected mainly the Primary Data for my study by utilizing
the questionnaire and interview methods.

Secondary data

These data are collected from published sources such as Magazines,

NEWS papers, several books, and also from the help of web site
www.hdfcsl.com.

Sampling plan of the study: Sample size:

Sample size refers to number of elements to be included in the study

several qualitative factors should also be taken into consideration when
determining the sample size. These include the nature of research, number
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of variable, and nature of analysis, sample size used in similar studies

incidence rates, completion rates, and resources constraints.

During the process of the study, survey has been conducted on 100
respondents.

Sampling method:

The researcher had choice between probability and non probability

sampling methods. In this study a simple non probability method namely
convenience sampling was adopted.

NON PROBABILITY METHOD – CONVENIENCE SAMPLING

METHOD

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A. OBJECTIVES OF THE STUDY

 To study the HR Policies of the company.
 To study the amendments made in the HR Policies of
Lloyds Steels since the time of incorporation.
 To incorporate the amendments in the base policy and
prepare a final policy.
 To design a HR Policy manual for the company with
special emphasis on the <Managerial Service
Conditions=.

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B. SCOPE OF STUDY
 In any organization human resource is the most
important asset. In today’s current scenario, Lloyds
Steels is a very large manufacturer and marketer of
Steels .

• As most of the company’s overall performance depends

on its employee’s performance which depends largely on
the HR POLICIES of the organization.

• So the project has wide scope to help the company to

perform well in today’s global competition.

• The core of the project lies in analyzing and assessing

the organization and to design an HR POLICY manual
for the organization

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C. HYPOTHESIS

 Human Resource Policies provided by the organization of

employees works as an agent for the growth of employees
and also motivates the employees to perform well i.e.
employee performance and satisfaction is the valuable
outcome of sound of HR Policies of the organization

 The various HR Policies in lloyd steel industries ltd.

makes the employees enthusiastic towards work.

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D. SAMPLE SIZE

SAMPLING DESINGS: A sample design is a definite plan for

obtaining a sample from a given population. It refers to the
technique or the procedure the researcher would adopt in
selecting items for the sample. A sample is a part of a target
population, which is carefully selected to represent the
population. Actually, sampling frame is nothing but the correct
list of population.

SAMPLING PROCEDURE: - The sampling procedure used in

this study is simple Random sampling. A simple random sample
is a subset of individuals chosen from a larger set. Each individual
is chosen randomly and entirely by chance, such that each
individual has the same probability of being chosen at any stage
during the sampling process.

SAMPLING AREA: - Wardha City

SAMPLE SIZE: - The sample size of the study is limited to 100.

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E. DATA COLLECTION
Primary data: The primary data will be collected by a structured
questionnaire and Google forms.

Secondary Data: Secondary Data is collected by using research

papers, journals, books and websites.

DATA COLLECTIONO METHOD: - Questionnaire Method

and Interview Method.

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F. Limitations

 The research is confined to just one company lloyds steel

industries ltd.
 Inadequate access to information (sensitivity of company
information) which disrupts the scope of analysis
 Due to the limitations many aspects could not be
discussed in the report
 Sample size is very small compared to the entire
population
 Lack of manpower and other resource constraint

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Data analysis and interpretation refers to how the

collected from the different sources and how it is interpreted.
The data collected from the primary sources and secondary
sources.
The Primary data are those which are collected afresh
and for the first time, and thus happen to be original in
character. The tools for collecting this primary data are by two
types namely Interview Method and Questionnaire Method.
The Secondary data are those which have already been
collected by someone else and which have already been passed
through the statistical process in the company.
For collecting the data the sample size taken in the survey is only 70
respondents. Because lack of time. The technique used for collecting
the data is simple random sampling technique. The statistical tools used
in survey are bar charts, pie charts and tables.

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