Author Email: nimish.laddhad@Loksuvidha.com
The purpose of the present exploratory research is to study the Employee Satisfaction at Loksuvidha Pvt.Ltd. Loksuvidha Pvt.Ltd is a two-wheeler financing firm operating in Maharashtra, Madhya Pradesh &Chattisgarh with 200+ employees working for them. The Loksuvidha Pvt.Ltd focuses on Middle Class and poor population of India who face problem in acquiring loans thus Loksuvidha becomes guarantor for them. Employee satisfaction helps organisation to understand the nerve of employees. It provide insight about what is going right for the employees & if there is an opportunity to improve any of the organisational policies. In the current research, responses are sought from employees on questionnaire that is prepared keeping in mind various parameters specially identified for the research pupose. The Focus of this research paper is to conduct an employee satisfaction survey where the questionnaire will cover topics such as working condition, relationship with the organisation, performance appraisal, utilisation of skills & abilities, work assignment & grievance handling mechanism.One Sample Z Test is utilised for analysing the data.With the help of this research we intend to find out the satisfaction of employees at Loksuvidha. Keywords Employee Satisfaction, Organisation, Policies
Organisation play a very vital role when it comes to satisfaction of employees. The more the organisation takes care of employees the more satisfied they are. The employees expectations grows as they spend more time in the organisation, and they relate their expectations directly with the satisfaction. There are more factors that contribute to their satisfaction that are smooth working, their relationship with their peers, support from the organisation, their qualifications and its implementation, etc. If there is smooth balance of these factors in the organisation then the employees will be highly satisfied. In this Research Paper, our focus was to measure the satisfaction level of employees at Loksuvidha Pvt.Ltd. Loksuvidha Pvt.Ltd runs on a business model where they focus on middle class and lower class population who face problems in acquiring the loans. They believe that there are some target segment who can’t approach banks for the loans directly due to either low level of educations & awareness or due to no proof of documents. Therefore for such people the Loksuvidha act as guarantor. They provide loans to their customers at a certain interest rate that they can give it back to Loksuvidha at very low EMIs. Majorly Loksuvidha started this so that their target customers can buy two-wheelers for their use, as it was observed by the founders of the Loksuvidha Pvt.Ltd that their target customer wants two-wheeler for their use but can’t afford it by paying wholesome amout or due to unavailabililty of documents with them. But now the business model is modified. Now they don’t provide loans for two-wheeler only, but for other reasons also such as loans for paying school, college fees.
The organisation takes good care of their employees as most of the employees are satisfied with the organisation. The employees of LoksuvidhaPvt.Ltd feels that the working conditions are in favour of them which is a positive contribution towards their satisfaction. Also, the relationship of the employees with their collegues are good so help the employees to work happily in the organisation. The organisation have a good system of appraising the employees therefore the employees are satisfied with the pay also. While recruiting, the top management makes sure that the person they are recruiting have all the skills &abilties according to the job role. This helped them to perform their task smoothly and the employees were able to utilise their skills &abilties. The work assignments given to the employees are interesting & challenging, therefore the employees are motivated towards their work. Also it is not overloaded unnecessarily, therefore they get sufficient time to finish their work. For handling grievances, the organisation takes continuous feedback from the employees, also the employees can approach the assigned person for grievances anytime, if they are facing any problem. Due to this even if some grievances occurs, that are solved on primary stage only. Therefore, it is concluded that employees of LoksuvidhaPvt.Ltd are satisfied with the organisation.
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