Sei sulla pagina 1di 17

PROJECT SYNOPSIS

ON

AT

JVR FORGINGS LIMITED, LUDHIANA


COMPANY PROFILE:-

A PREFERRED TECHNOLOGY & ENGINEERING DRIVEN DEVELOPMENT


PARTNER

JVR Forgings Limited, the Ludhiana based Indian Company is a technology-driven global
leader in metal forming, serving several sectors including Automotive, Construction & Railways
around the globe with a network of customers in more than 70 countries.

A revenue of US $ 65 million conglomerate with great work force; JVR today has the largest
repository of metallurgical knowledge in the region and offers full service supply capability to its
global marquee customers from conceptualization to product design, engineering, manufacturing,
testing and validation. Underlying the success of the group is an ethos of commitment to the
values of Quality, Service and Reliability. Continuous Innovation and close customer interaction
have enabled the group to consolidate its position at the leading edge of engineering industry.
Superior Industry experience, commitment to Quality and Strong Management Vision defines
the ground on which JVR is placed today.

Mission

To be a Global company providing Total Business Solutions through Quality Products, Systems
& Services in the field of Automobile, Railways, Bearing, Heavy Fabrication, Scaffolding,
Formwork, Construction & other Potential areas. Listed below here are several of our beliefs and
objectives:

Minimization of rework, rejection, resource wastages and hazards.


Promotion of business, environmental protection, health and safety related awareness.
Minimization of deviations for the effectiveness of integrated management system.
Encourage all interested parties to participate in the continual improvement programmed.
Vision

To be the preferred source of components, subassemblies and assemblies of Automobile and


Railway industry globally.
To upgrade the technology and process in line with customer requirements and be global
leader.

PRODUCTS:-

AUTOMOTIVE:

In 1996 to cater the ever increasing requirements of automotive industry JVR FORGINGS LTD.
came into existence under able guidance and vision of our Managing Director Mr. D P Gupta,
started a forging and fabrication unit initially today has the EML (Eastman Mettcast Ltd.) as its
casting unit servicing its variety of customers in over 65 countries across the globe with group
revenue of over Rs. 2750 Millions.
JVR FORGINGS has diversified its activities to manufacture hot forged and precision machined
components for automobile and engineering industries. JVR has emerged as a much sought as
we are supplier to OEMs in India and abroad.With a workforce of over 1000 persons we are
capable of producing a wide range of products like Drop arms, Gear shifting forks, End yokes,
Shafts, Gear blanks , Axle components etc. are based on manufacturing with complete in-house
facility.
Today, the presence of JVR FORGINGS Ltd. and its quality reaching so far and wide with its
impressive brand name has made its own name even in modernized developed and cost effective
markets and will continue to strive hard to make it more impeccable.

CONSTRUCTION:-

In the fields of architecture and civil engineering, CONSTRUCTION is a process that consists of
the building or assembling of infrastructure. Far from being a single activity, large scale
construction is a feat of human multitasking. For the successful execution of a project, effective
planning is essential.

Involved with the design and execution of the infrastructure in question must consider the
environmental of the job, the successful scheduling, budgeting, construction site safety,
availability of building materials, logistics, inconvenience to the public caused by construction
delays and bidding etc. for the same and to enhance the work ability we manufacture the
SCAFFOLDING & FORMWORK accessories of innovation and new design which decreases
the labor and increases the output from the project.

RAILWAYS:-

Railway is emerging as prime mode of transport for the common people and good slike. The
demand for wagons, coaches and allied products is expected to further grow and sustain.
Effeciently forged and process safety components are the backbones of Rail Industry as it has to
fulfill the vital responsibility of transporting millions of human lives safely. JVR has gauged the
oppertunity and equipped itself with complete Infrastructure to fulfill the technical requirments
of rolling stock. JVR is catering to almost all the Indian Railway Zonel Stores.

CERTIFICATIONS:

JVR Forgings Limited an ISO 9001:2008 and ISO/TS 16949:2009 has established and applies a
Quality Management System for Manufacturing of Steel Forged, Machined and Fabriacated
metal components for Automotive, Railways, Industrial Scaffoldings and Genral Applications.

ISO 9001 : 2008


OHSAS-18001 : 2007

ISO/TS 16949 : 2009


INTRODUCTION TO THE TOPIC

WHAT IS ATTRITION?

The meaning of attrition in a work environment refers to a reduction or decrease in the size or
strength the work force, or a gradual reduction in labor occurring through means other than firing
employees. Both of these explanations can be applied to activities addressed by human
resources, and both can have positive and negative ramifications for a company. Human
resources teams factor attrition rates into their department budgets to account for potential losses
in productivity and the costs associated with replacing departing employees.

"A reduction in the number of employees through retirement, resignation or death".

Attrition, also known as employee churn, employee turnover, or employee defection, is an


industrial term used to describe loss of employees or Man power.

Attrition is pretty high in the industry these days. Attrition is a universal phenomenon and no
industry is devoid of it, but the degree fluctuates from industry to industry. Attrition is a serious
issue in the industries because the industry is knowledge-based and hence employees are its
assets.

Deficiencies like inability to influence employee perception of growth; not aligning employees
to roles based on their individual talent, inflexibility in leadership styles, are causing conflicts at
a very intrinsic level, resulting in knowledge employees choosing the proverbial easy way
out.

Reasons for Attrition

Attrition can be encouraged when it is part of a strategic business maneuver to reduce costs. It
can also manifest itself when employees voluntarily leave their jobs. This can happen for a
variety of reasons: employees may move or retire, take another job, be ill-suited to the position
they were hired to fill, or want employment that offers a more equitable work-life balance.
Others may experience a lack of the freedom or autonomy they require to perform at expected
levels. Human resources professionals inadvertently encourage attrition when they condone or
ignore maltreatment of employees by management.
Upside of Attrition

Some business strategies use attrition as part of a restructuring plan. Rather than carrying out
traditional layoffs, some businesses choose to reduce their workforce through the more gradual
means of attrition. This is less consequential to a workforce that contains employees approaching
retirement age. When they leave the company, a replacement is not hired to fill the vacancy, and
the job position may be retired. Some business owners and managers work with their HR
professionals to create equitable positions into which remaining employees can potentially be
promoted. This creates positive employment options that did not previously exist.

Downside of Attrition

When attrition occurs, the remaining duties and job responsibilities can burden employees and
managers with additional duties with no increase in pay. Even if HR staff members distribute the
extra workload throughout other departments, they may witness managers moving on to other
companies. The potential for employment promotion may no longer exist when positions are
retired due to attrition. Employee morale can suffer, a situation that HR should work to remedy
before it becomes unmanageable.

Attrition Rate Calculation

The attrition percentage rate is determined by dividing the number of employees who left their
jobs during a specific period by the average number of employees during the same period.
Results can be computed for monthly, quarterly, biannual or annual periods. Consistent rates of
attrition are viewed as the norm for a specific business. If high attrition rates remain outside the
parameters of an accepted strategic business plan, human resources staff members may be
required to evaluate the causes and find solutions.

ATRITION IS A CRITICAL ISSUE:

Whenever a well-trained and well-adapted employee leaves any organization, it creates a


vacuum. The organization loses key skills, knowledge and business relationships. And it is not
an easy task to find a sustainable substitute.
Situation is worse when it happens at a critical (decision making) position, as there is a scarcity
of such technical resources in the market, explains Head HR, who feels attrition directly affects
the company. Employees want not only work recognition, but also extra perks.

FIVE PRINCIPAL REASONS FOR WHICH THE PEOPLE CHANGE JOBS

1. It doesn't feel good around here. This is a corporate culture issue in most cases. Workers
are also concerned with the company's reputation; the physical conditions of comfort,
convenience, and safety, and the clarity of mission.
2. They wouldn't miss me if I were gone. Even though leaders do value employees, they
don't tell them often enough. If people don't feel important, they're not motivated to stay.
No one wants to be a commodity, easily replaced by someone off the street. If they are
regarded as expendable, they'll leave for a position where they're appreciated.
3. I don't get the support I need to get my job done. Contrary to opinions heard all-too-often
from management, people really do want to do a good job. When they're frustrated by too
many rules, red tape, or incompetent supervisors or co-workers, people look for other
opportunities.
4. There's no opportunity for advancement. No, we're not talking about promotions,
although many deserving people would like to move up. The issue here is learning.
People want to learn, to sharpen their skills and pick-up new ones. They want to improve
their capacity to perform a wide variety of jobs. Call it career security. The desire is for
training and development. If workers can't find the growth opportunities with one
company, they'll seek another employer where they can learn.
5. Compensation is the last reason people most leave. That's a brash statement, but it's true.
Workers want fair compensation, but the first four aspects must be strong. If they're not,
but money's high, you'll hear people say "you can't pay me enough to stay here."
SCOPE OF THE STUDY

The scope of this study will be confined to Attrition at JVR Forgings Limited.
With respect to the employees at all the levels of management.
This study will help the management to know where the company is lagging behind and
helps to improve its internal and external environment.
The project will throws light through valuable suggestion to decrease attrition level in the
organization.
This study will help the management to find the weaker parts of the employee feels
towards the organization and also helps in converting those weaker part in to stronger by
providing the optimum suggestions or solutions.
This study would provide a wider scope in any kind of organization since attrition is
general one and makes the employees to put forth their practical difficulties and need
factors in the organization.
This study will help the management to know for which the reason employees tend to
change their job, through dissatisfaction factors faced in the organization and also helps
to recover by providing the optimum suggestions or solutions.
This project will be base for the students who are doing the project in the related area.

NEED FOR THE STUDY

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

This study would be focused on why the Attrition occurs and the possible ways to reduce
it.

The study would mainly undertaken to identify the level of employees attitude,
the dissatisfaction factors they face in the organization and for what reason they
prefer to change their job. Once the levels of Employees attitude are identified, it
would be possible for the management to take necessary action to reduce attrition level.
Since they are considered as backbone of the Company, their progression will lead to the
success of the Company for the long run.

This study would be helpful in knowing, why the employees prefer to change their job
and which factors make employee dissatisfy.

Since the study is critical issue, it would be needed by the originations in order
to assess the overall interest and the feelings of the employees towards their
nature of job and organization

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

OBJECTIVES OF THE STUDY:

To know the reasons of attrition in JVR Forgings Limited.


To identify the factors which make employees dissatisfy.
To know the problems faced by the employees that lead to attrition.
To know the retention measures followed at JVR Forgings Limited.
To suggest ways and means to reduce attrition.

RESEARCH METHODOLOGY:

Research design

A research design is the arrangement of conditions for collection and analysis data in a manner
that aims to combine relevance to the researcher purpose with economy in procedure.

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 from writing the hypothesis and its
operational implication to the final analysis of data.
The Research Design undertaken for the study will be Descriptive one. A study, which wants to
portray the characteristics of a group or individuals or situation, is known as Descriptive study. It
will be mostly qualitative in nature.

TYPES OF DATA COLLECTED

Research
Methodology

Primary Method Secondary Method


Primary Data:

Data that has been collected from first-hand-experience is known as primary data. Primary data
has not been published yet and is more reliable, authentic and objective. Primary data has not
been changed or altered by human beings; therefore its validity is greater than secondary data.

Some sources are: Experiments, Survey etc.

Secondary data
Data collected from a source that has already been published in any form is called as secondary
data. The review of literature in my research will be based on secondary data. Mostly from
books, journals and periodicals. Secondary data is often readily available. After the expense of
electronic media and internet the availability of secondary data will become much easier.
Example:-Published Printed Sources, Published Electronic Sources, Unpublished Personal
Records, Government Records, Public Sector Records etc.

Primary Method Secondary Method

Questionnaires Open ended questions


Close ended questions
Multiple choice questions
Sample Size 200

Observation Books/ Magazine

Discussion Website

DEFINING THE POPULATIONS:

The Population or Universe would be Finite or infinite. The population is said to be finite if it
consist of a fixed number of elements so that it is possible to enumerate it in its totality. So In
this projects will be consist of finite population.

SAMPLING PLAN:

A sampling plan is a definite design for obtaining a sample from the sampling frame. It refers to
the technique or the procedure the researcher would adopt in selecting some sampling units from
which inferences about the population is drawn. Sampling design would be determined before
any data would be collected.

Random Sampling technique would be adopted. In this method the researcher would select those
units of the population in the sample, which appear convenient to him or the management of the
organization where he is conducting research.

FIELD WORK:

The field works is done at JVR Forgings Limited.


DESCRIPTION OF STATISTICAL TOOLS USED:

Percentage method
Weighted average method and

PERCENTAGE METHOD:

In this project Percentage method test would be used. The percentage method would be used to
know the accurate percentages of the data we took, it is easy to graph out through the
percentages. The following are the formula

No of Respondent

Percentage of Respondent = _____________________ *100

Total no. of Respondents

From the above formula, we can get percentages of the data given by the respondents.

WEIGHTED AVERAGE METHOD:

Weighted average can be defined as an average whose component items are multiplied by
certain values (weights) and the aggregate of the products are divided by the total of
weights.
One of the limitations of simple arithmetic mean is that it gives equal importance to all
the items of the distribution
In certain cases relative importance of all the items in the distribution is not the same.
Where the importance of the items varies.
It is essential to allocate weight applied but it may vary in different cases. Thus weight
age is number standing for the relative importance of the item.
APPENDICES

A STUDY ON ATTRITION LEVEL IN JVR Forgings Limited.

PERSONAL DATA:

1. Name:

2. Designation:

3. Gender:

4. Age: a) 18 -25 b) 26 35 c) 36 -45 d) above 45

5. Marital status: a) Married b) Unmarried

6. Educational Qualification: a) Graduation b) Post graduation

7. Years of Experience in JVR Forgings Limited.: a) 0 2 years b) 3 5 years c) Above


5 years

8. How was your experience in JVR Forgings Limited.?

Excellent Very Good Good Not so good

9. Are you interested to work again if given chance?

Yes Cannot say Think over Not at all

10. Which of the following makes you dissatisfied?

Work Working Pay Interpersonal


pressure environment Shifts structure relationships
11. For which reason, you prefer to change the job

Health Family Career Monetary Higher


conditions issues Growth benefits Education

12. Do you have any freedom to convey your problems to top level management?

YES NO

13. Whether promotion is given based on the skills?

YES NO

14. Were you comfortable with traveling facilities available in the organization?

Highly Moderately Moderately Highly


satisfied satisfied Neutral dissatisfied dissatisfied

15. How are the Recreation facilities at JVR Forgings Limited.?

Highly Moderately Moderately Highly


satisfied satisfied Neutral dissatisfied dissatisfied

16. Job Stress?

Highly Highly
Agree Agree Neutral Disagree Disagree
17. Rate the following factors:

Highly Satisfied Neutral Dissatisfied Highly


Satisfied Dissatisfied

Motivation

Appraisal

Basic Needs

Nature Of
Job

18. How do rate JVR Forgings Limited when talking to friends.

Excellent Very Good Good Not so good

19. The internal reasons for employees leaving organization are:-

a) Poor appraisal system b) Lack of training

c) Work pressure d) Lack of career growth & development

e) Working Space

20. Was the training program effective at the time of induction?

Strongly
agree Agree Neutral Disagree Strongly disagree
21. Are you satisfied with your salary?

YES NO

22. How is the career growth in the organization?

Very
Excellent Good Satisfactory Not so good Bad

23. Are there any rewards and benefits provided for better performance?

YES NO

24. Can you rate your satisfaction levels in the organization in a four point scale?

a. 1 b. 2 c. 3 d. 4

1 (Excellent), 2 (Good), 3 (Average), 4(Poor)

25. Any other information or suggestions, you would like to share pertaining to the above
questions.

.
BIBILIOGRAPHY

Books:

Gupta, S.P., Statistical Methods, New Delhi, Sultan Chand & Sons Publishers,
Kothari, C.R., Research Methodology - Methods & Techniques , New Delhi, New Age
international (P) Ltd., Publishers,

Internet:

http://jvrforgings.com/
http://www.attrition.org/attrition/about.html