Karnataka Law Society’s

Gogte Institute of Technology

(Approved by AICTE, Permanently Affiliated and Autonomous Institution under VTU
Belagavi)
Department of MBA
“Jnana Ganga”, Udyambag, Belagavi – 590008, Karnataka, India

SUMMER INTERNSHIP PROGRAM

On
(A Study on Compensations of Shivashakti Sugars Ltd)
At
Shivashakti Sugars Ltd Soundatti

Submitted by
Maruti A Budale
2GI20BA056
 Karnataka Law Society’s
Gogte Institute of Technology
(Approved by AICTE, Permanently Affiliated and Autonomous Institution under VTU
Belagavi)
Department of MBA
“Jnana Ganga”, Udyambag, Belagavi – 590008, Karnataka, India

SUMMER INTERNSHIP PROGRAM

On
(A Study on Compensations of Shivashakti Sugars Ltd)
At
Shivashakti Sugars Ltd Soundatti

Submitted by
Maruti A Budale
2GI20BA056

Dr Govind Raj Mane Mr. B S Mudhole

Asst Professor HR Manager
KLS GIT (MBA DEPT) Shivashskti SugarsLtd

Academic Year: 2021-2022

 BONAFIDE CERTIFICATE

This is to certify that Maruti A Budale bearing 2GIT20BA056, is a bonafide

student of Department of MBA of KLS Gogte Institute of Technology, Department of
MBA, batch of 2020-22 affiliated to Visvesvaraya Technological University (VTU),
Belagavi. The SIP is undertaken by him/her for a period of 8 weeks under the
supervision of Dr Govind Raj Mane in partial fulfillment of the requirements for the
award of the degree of MBA of VTU Belagavi.

Signature of the Internal Guide Signature of HOD Signature of Principal

 DECLARATION

I, Maruti A Budale, hereby declare that the summer internship project is prepared by me
under the guidance of Dr Govind Raj Mane.
I also declare that this summer internship project is submitted adhering to the institute
and university regulations towards the partial fulfillment for the award of the degree of
Master of Business Administration by VTU Belagavi.
I have undertaken the SIP for a period of 8 weeks. I further declare that this report is
based on the original study undertaken by me and has not been submitted for the award
of any degree from any other University/Institution.

Place: Belagavi Signature of the Student

Date:
 Acknowledgement
No work is said to be complete without thanking the people who have helped
me in perceiving any job. So this acknowledgement is for those people who have
played their role in completion of my Summer Internship Program. The project would
not have been completed without the kind co-operation and help of certain individuals
to whom I owe this heartfelt gratitude.

I extend my sincere thanks to my beloved Principal Dr. Jayant K. Kittur, Gogte

Institute of Technology, Belagavi.

I also dedicate my sincere thanks to Dr. Krishna ShekharLal Das, Dean,

Department of MBA, Gogte Institute of Technology, Belagavi.

I would like to express my sincere gratitude to Dr Govind Raj Mane my

internal guide for his valuable guidance in the completion of this project
successfully.

I also express Thanks to all the faculty members for their valuable suggestions,
encouragements, guidance and support. I would also like to thank all the respondents
for extending the required timely help. I would like to thank my family who were a
constant source of encouragement and provided me with the necessary resources. I
would lastly thank non-teaching staff and all my friends who were directly and
indirectly involved with their help and guidance in successful completion of my study.
 TABLE OF CONTENTS

SL NO NAME OF THE CHAPTERS Page no

Executive summary 1

Chapter 1 INDUSTRY PROFILE 2-11

Industry Profile 2
Company Profile 3
Vison, Mission and Objectives of the company 4-6
SWAT Analysis 7-9
Human Resources & Social Responsibilities of the company 9-11

Chapter 2 THEORETICAL BACKGROUND OF THE STUDY 12-15

Chapter 3 RESEARCH METHODOLOGY 16-21

Need For the study 16
Objectives of the study 16
Scope of the study 17
Research Design 18
Data collection method 19
Limitations of the study 20
Literature Review 21-22

Chapter 4 ANALYSIS AND INTERPRETATION OF DATA 23-34

Chapter 5 SUMMERY OF FINDING, SUGGETION AND 35-39

CONCLUSION
Bibliography 40
 EXECUTIVE SUMMARY

This project is undertaken at “Shivashakti Sugars Ltd” and the title of the project is “A Study on
Compensations of Shivashakti Sugar Ltd” as a part of MBA program with the objectives to study about the
Compensations of Shivashakti Sugars.

Compensation management is payment in the form of hourly wages or annual salaries combined with
benefits such as insurance, vacation, etc. that can positively or negatively affect an employee’s work
performance. It can be said that compensation is the “glue” that binds the employee and the employer
together and in the organized sector, this is further codified in the form of a contract or a mutually binding
legal document that spells out exactly how much should be paid to the employee and the components of the
compensation package. The art and science of arriving at the right compensation makes all the difference
between a satisfied employee and a disgruntled employee.

The purpose of this paper is to highlight the best practices followed by HRM and to acknowledge the
importance of compensation used in organizations all around the world. Compensation are used by different
organisations globally to attract, motivate and retain their employees.

In this present day circumstances, with employees having access to all kinds of information regarding
salaries, wages and benefits of other companies it is extremely important for any organization to have a fair
and an attractive compensation system in place.
 INDUSTRY PROFILE

India is the 2nd largest consumer and 2nd largest producer of sugar in the world.

The sugar industry in India is second large agro-processing industry and located in the rural India. The sugar
industry proud to be an industry which spreads the taste of sweetness to the mankind, sugar is generally
made from sugarcane and beet. In India sugar is produced mainly from sugarcane, and India has introduced
sugarcane all over the world and its leading country in the making sugar from the sugarcane
The sugar industry established in 1830.there where more than 467 factories in the
country in 1994-95 and with an annual production of 150 to 200 lakhs tones. The sugar industry in present
India has 525 mills, 252 co-operatives sector & 134 are from private sector the main sugarcane locations are
Karnataka, Uttar Pradesh, Gujarat, Andhra Pradesh, Tamilnadu

Sugar production
India most of the sugar is manufactured and sold as ‘White Crystal Sugar’ and which is produced by double
suspiration process India most of the mills are not equipped to make refined sugar mills and which are
designed to produced refined sugar can manufacture sugar not only from run their production all the year
round. India is a largest consumer of sugar in the world.
2nd largest manufacturer of sugar followed by U.S.A, China, Pakistan, Thailand, Germany, in the sugar
industry the top position in Brazil has world largest manufacturing of sugar. India is having a big market for
sugar industry.

Sugars industry i involved activity and manufacturing white crystal sugars production it is main production
and production process involved in
Raw sugar cane to sugar
Row sugar to Refined sugar
they are
Molasses
Bagasse
Ethanol

These are the BY-Products

Molasses:
It is the brown colour, residue after sugar has been tracked from the juice and, main used for manufacturing
of yeast, ethyl, alcohol & cattle feed.
Sugars producers’ alcohol from molasses side after the extraction of sugars cane juice, it is used for
purifying to producing fuel and ethanol

Bagasse:
it is usually used for combustible in the furnaces to the produce steam, it turn is used to generate power
bagasse is a fibrous residue can stalk in that obtained crushing & extraction of juice bagasse’s is used for raw
materials of production of paper and has feedstock of cattle
Ethanol: Ethanol is used for a blend fuel with gasoline in the transport sector.
COMPANY PROFILE

Name of Company Shivashakti Sugars Ltd

Date of Incorporation 21 April 1995

Registration Number 017655

Registration State Karnataka

CIN U15421KA1995PLC017655

GST No 29AACCS3150L1Z6

Company category Company limited by shares

Annual turnover 500 to 1000 crore

Nature of Business Manufacturer

Email id [email protected]

Address Ankali Raybag road Soundatti, tq:Chikodi

Dist:Belagavi.

BOARD OF MANAGEMENT

DR Prabhakar Kore Chairman

Asha Kore Managing Director
Rajkumar Kothiwale Director
Vijay Sankeshwar Director
Rajkumar Kulkarni Director
VISSION AND MISSION OF THE COMPANY

VISSION
 To become Global Agri business and Agri processing organisation for Social and
Economic Transformation of Rural India
 To emerge as a leading sugar manufacturing unit in the state, creating growing value for
Indian economy and company's stakeholders.
 To have eminent position in manufacturing and supplying quality white refined sugar and
allied products and thereby play an important role in the economic and social
development of the country

MISSION
 Shivashakti Sugars produce superior quality products at a competitive price to ensure
sustained profitability and growth.
 Believe in fair trade practice with eco-friendly environment.

 Believe in Cane Growers as our valuable assets for our growth.

 They cater to power needs of rural population.

 Produce Ethanol which can be doped-with automobile fuel and helps to grow the rural
economy.
 Make people around us to enjoy financial, social and cultural status in rural society.

OBJECTIVES OF THE COMPANY

 To produce and sell good quality sugar at competitive price.

 To strive for the welfare of farmers, buyers, sellers and staff.

  To conduct all business affairs in an ethical way conforming to laid down rules.

 To reach higher position in sugar industry and sustain that position

SWOT ANALYSIS

STRENGHT
 Highly talented managers & HR representatives.
 Good place to work
 Large human resources
 Sufficient infrastructure
 Attendance maintained on software bases

WEAKNESS
 Lack of Training facility
 Long working hours
 Slow implementation of Technology

OPPORTUNITIES
 Health Card facilities
 Increased Bonus
 Quick increment opportunity
  Free training courses for the Employees

CHALLENGES
 Increased competitors
 New entrants in the industry
 Inefficient technology
 Political interference

HUMAN RESOURCES & SOCIAL RESPONSIBILITIES

OF THE COMPANY

HUMAN RESOURCES

 To recruit, train and retain manpower.

 To improve the manpower productivity and morale.
 To fulfill health needs and cultural needs of the employees.
 To introduce continuous education and re-training of the employees.
 To maintain on-time performance and harmony among the employees.
 To reward, recognize, reposition of employees

SOCIAL RESPONSIBILITIES

 Shivashakti Sugars are making green belt by planting 300 trees

 Encouragement of sports in rural area at factory premises

 To help small farmers

  Social message T-shirts and Caps

 Encouraging tractor maintenance program

 Free Air/Lubricant facilities

CHAPTER-2

THEORETICAL BACKGROUD

COMPENSATION
Meaning-
Compensation is the visual part of HRM which helps in encouraging employees and
implementing organizational effectiveness. or
Compensation is the combination of salaries wages and benefits that employee receive in change
of them doing a particular job

OBJECTIVES OF COMPENSATION

 To attract highly capable and efficient employees so that their efforts produses higher

organizational performance

 T0 recruit and retain talented employees for continuance of organization performance and

attainment of higher levels of competence

 To increase the motivation and morale of employees for achieving higher employee

commitment towards goals and objectives of the organization

 To determine basic wage and salary

 To reward employees for their job performance

COMPONENTS OF COMPENSETION

 Base Pay Structure (Fixed Component)

Salaries and wage are the periodic assured payments made to the employees. Salaries are
generally paid to the permanent employees on the monthly basis, whereas wages are paid to
temporary or contractual workers on the daily basis.

 Variable Pay Programs:

i. Variable Pay Plans for Sales:
Variable pay plans for sales represents a pay-mix that may be a 70-30 or 60-40 or 50-50 plan.
Here the 30, 40 or 50 represents the variable portion of the pay and is linked to the targets.
Targets could be product-based, territory-based, revenue-based, and profitability-based or based
on new business creation.
ii. Variable Pay Plans for Non-Sales:
Such pay plans are for those employees who either are those who need incentives to propel their
work or are those whose performance can be improved by giving them incentives like insurance
plans, credit cards, mutual funds etc. Generally the variable portion in non-sales is lesser than in
case of sales.

 Benefits:
The benefits could be the one that are legally-mandated ones or the ones that are ‘good-to-have’
for competitive-edge. The benefits may be monetary or non-monetary, long-term or short-term,
free or at concessional rates and may include education, housing, medical, or recreational
facilities, provided individually or collectively, inside or outside the organizational premises.

 Rewards & Recognition:

At the end of the day we are all human beings and like to compete and do better than others. This
creates a natural urge to be rewarded and recognized. While designing the rewards and
recognition plans the ‘why’ and ‘what’ kind of people to be covered in such plans needs to be
answered. Generally the rewards and recognition, pyramids looks like

Financial and nonfinancial Compensations of

Shivashakti Sugar Ltd
Financial Compensations

1.Salaries
Of course, the most important way of compensating your employees is through salaries
Shivashakti Sugars Ltd can given salary to their workers this was the main compensation of this
company .the rural urban village employees are join the company and fulfill their goals through
salaries. Lots of people's are found their life by joining this company.

2.Incentive/Bonus
An incentive refers to a commission or bonus that aims to motivate them to fulfill or exceed their
goals.
This industry can provide bonus to employees in certain period of time like Diwali festival and
end of the financial year it will be motivates them and helps to workers to fulfill their aims and
goals.

3.Providing insurance benefits

Shivashakti Sugars Ltd comes one part of KLE society so it can provides these following
insurances

Medical insurance
This insurance can be used by Shivashakti Sugars company employees to pay their medical
expenses, such as hospital bills, doctors’ fees, in KLE Hospitals. this insurance benefit can be
used if they are hospitalized for a reason specified in the policy. it can also available to farmers
who gives their sugar cane to this factory.
Disability insurance
This type of insurance can be used by Company workers if an accident, injury, or illness causes
them a temporary or permanent disability, which affects their ability to work. When this happens,
company can offer this insurance benefit to financially support them in KLE Hospitals
Nonfinancial compensations

1.Paid time-off benefits -

the company can also offer paid time-off benefits. These can include:
Vacation leave
This is a paid time off from work in the form of leave credits. This company allows your
employees to relax and enjoy a vacation within a certain amount of time.
Holiday pay
Shivashakti Sugars Ltd allows their employees to receive an additional payment on top of their
regular salary on holidays even without working.

2.Sponsor free training courses for employees

Whenever Shivashakti Sugars Ltd looking for new opportunities for business growth, so
company might want to consider rewarding workforce with free training courses.
These courses can give their credentials a boost, which can help Shivashakti Sugars workers can
achieve their long-term career goals and objectives – and can also help them perform their role
for you more effectively.

3.Providing flexible work hours

Company employees have personal lives outside work. Even if they’re working for company at
least eight hours a day, they still need to meet their other obligations.
So, aside from their salaries, it’s also a good idea to compensate them with flexible work hours,
allowing them to achieve work-life balance satisfaction.

Compensation – Importance of Compensation to Other

Fields of Human Resource Management

1.Recruitment and Selection:

In order to attract potential and competent employees, it is necessary to offer lucrative
remuneration to the aspirants. In the era of competition, where companies compete for getting
best candidates, this aspect has become all the more relevant. Managements have to take
decisions about the appropriateness of the quantum and form of compensation—direct or
indirect, short-term or long- term remuneration and also the packages being offered.

2. Training and Development:

Employees will be more willing and responsive to training and development programmes if they
are aware that, after the successful completion of training and improvement of their skills, they
will receive suitable monetary rewards. When the compensation policy and practices of the
organisation assure such enhancement of reward is in somewhat definite terms, they are very
likely to be attracted towards such programmes

3. Performance Appraisal and Incentives:

Where an objectively designed and clearly understood performance appraisal system is in
operation, the employees become aware that they will get pay rises and other rewards based on
the extent of their contributions towards improvement of the quantity and quality of products and
accomplishing other targets. Similarly, the success of specific incentive schemes depends, in
large part, on their clarity and adoption of an acceptable system of sharing the fruits of increased
production.

4. Disputes and Grievances:

In many organisations, grievances and disputes often arise on the question of compensation. A
study of causes of industrial disputes in India as in many other countries of the world clearly
shows that the highest number of industrial disputes leading to work stoppages have taken place
on the question of wages and allied matters.
In order to prevent such disputes from arising, it is essential for the management to adopt
effective compensation policies and plans which could be acceptable to the union and which are
in conformity with governmental policy and prevailing norms. Similarly, grievances often arise
on the question of wage relativities worked out on the basis of job evaluation.

5. Promotions and Transfers:

Employees expect suitable rise in compensation when they are promoted to higher jobs. In many
cases there is rise in jobs, but with meagre or no corresponding enhancement of remuneration.
Such a phenomenon generates dissatisfaction amongst the promoted employees. Management
should, therefore, try to ensure that payments made to promoted employees are commensurate
with the value of the jobs to which they are promoted.

6. Industrial Relations:
In many organised establishments, compensation issues are vital in negotiations. In order to
ensure the establishment of harmonious industrial relations on a durable basis, it is desirable for
the management to take a realistic approach towards compensation issues.

Compensation – Recent Developments

1.Increased Emphasis on Merit or Performance Related Pay (PRP):

Under this method the individual’s increase in compensation is solely dependent on his/her
performance appraisal or merit rating. This rating not only take into consideration to output on
the job but also other indicators such as – quality, flexibility, job behaviour, contribution to team
working and ability to achieve the goals.
This method is primarily used for managerial levels, although attempts are being made to
introduce it at lower levels also but so far, it has not been very successful.

2.Flexible Compensation Schemes-Cafeteria Benefits:

The organizations are facing the problem of adjusting the salaries of new comers at all levels in
the existing compensation structure as they come from different organizations and enjoying
different benefits – both monetary and non-monetary.
Such organizations may use this flexible compensation scheme called Cafeteria Benefits which is
recommended, especially for the managerial employees. Under this scheme, the overall price is
fixed for each level with a menu of benefits.

3,Harmonisation:
Traditionally, at least two methods of payment of wages and salaries have been in operation -one
for blue collared and the other for white collared-or one for workers and the other for supervisory
and managerial employees. The workers are paid for their work and the supervisory and
managerial employees are paid for not only the work but also for their qualifications, experience
and personal characteristics. Integration of compensation criteria into corporate objectives is
becoming increasingly important.
The organizations are realising the need for a new benchmarking for deciding the reward for the
employees with a view to attract, retain, and to motivate the best brains to contribute at the
maximum of their capacity.

4.Decentralisation of Payment Systems:

With the organizations becoming multi-technology, multi-location, multinational, there seems to
be increasing interest in the decentralisation of compensation determination with a view to take
the local financial performance and labour market conditions into consideration.
The disadvantage of this method in India is that the employees tend to compare and ask for those
benefits which could benefit them, irrespective of their location. Although in the Public Sector
and the Government Departments, the quantum of allowances vary but by and large the
allowances, head-wise, remain the same.

5.Changing Practices in Compensation Management in India:

The present day trend in compensation management has moved from fixed salary grades and
fixed allowances to more flexible grades and allowances/reimbursements. The grades are being
used these days to indicate the starting or the minimum salary for a particular level, and the
allowances are being worked out in ranges so that the varying demands of new employees in
terms of emoluments could be met

CHAPTER-3
REASERCH METHODOLOGY

NEED FOR THE STUDY

  To know how much employees are satisfied with company compensation

 To make understand how the Compensation run smoothly

 To understand how compensation motivate the employees based on performance

OBJECTIVES OF THE STUDY

 To know the various types of Compensations provided by the company

 To identify the satisfaction level of employees of their Compensation

 To Study the impact of Compensation management on performance level of employees

in sugar industry

 To Study the problems related to Compensation faced by employees and bring out
suitable measures to solve them.

SCOPE OF THE STUDY

 It gives the detail information on employee Compensation based on their performance

 It helps to the study focuses on Compensation of the employees working in Sugar

industry
REASEARCH DESIGN

Descriptive research design method is being used for collection of data

Sampling plan:
Data is been collected with the help of the survey, questionnaire and the same is referred in this
report

Sampling Method: Simple random sampling method

DATA COLLECTION METHOD:

1. Primary Data:

 Collected data through visiting the company and discussing with the respective head of
the department

 Discussed with the HR department employee how they carry the work and what all
aspects they check and they what is been required while doing the work

2. Secondary Data
  Secondary data are those data which are primarily collected by the other person
for his own purpose, and now we are using this data for my project

LIMITATIONS OF THE STUDY

 Data may not fit all of the organization job

 Some respondents didn't give exact answer for some questions

 Developed when compensation systems were simpler

LITERATURE REVIEW

Ali, (1989) - Pay structure was identified as the primary cause of worker unhappiness in a study
of employees from nine public sector industrial businesses. Job security, the promotion system,
and work autonomy were also factors in workers' discontent. Employees at the aforementioned
companies were extremely unsatisfied with their wages and perks. Employees were even shown
to be willing to forego speedy advancement, job security, and congenial co-workers in exchange
for higher compensation and fringe benefits. As a result, the study cast doubt on the Western
belief that intrinsic rewards such as autonomy and task identity are more effective at motivating
workers. He suggested that intrinsic rewards might not function in Bangladesh unless income
and perks covered fundamental needs.

Hoque (1994) - Human resource development (HRD) had a favourable impact on organisational
effectiveness, according to him (OE). He measured HRD in terms of investments in HRD, such
as employee compensation and training and development costs, and OE in terms of growth and
profit effectiveness. The empirical study found that private sector firms were in a considerably
better position than public sector enterprises in terms of broad staffing (HR) pattern, employee
attributes, delegation of authority to subordinates, decentralisation of decision and policy
making, and span of supervision. In contrast to private sector businesses, the study found that
public sector businesses had poorer growth and profit due to low HRD investment.

Schuler and MacMillan (1984) - addressed how firms may acquire a competitive advantage by
strategically utilising their infrastructure requirements, particularly through human resources and
human resource management strategies. Although there are numerous ways for businesses to
obtain a competitive advantage.

Roy Massey (1994) - investigated why strategic HRM is such a pressing concern for NHS trusts
in the United Kingdom. He recognised the danger of failing to take a strategic strategy.
Organizations that do not take a strategic approach to human resources development and
implementation are easily identified, according to Roy, by a fragmented and haphazard approach.

Schuler (1992) - introduced the 5-p strategic HRM model, which merged numerous HR
operations with strategic requirements. According to him, these five P's (HR Philosophy,
Policies, Programs, Practices, and Processes) can be classified as strategic based on whether they
are systematically 3 connected to the business's strategic needs. The 5-P model has the advantage
of demonstrating the interconnectedness of activities that are frequently discussed independently
in the literature. This distinct focus, which may be important for research reasons, helps to
comprehend the complexities of how HR operations influence individual and group behaviour.
As a result, by employing the 5-P model, we may be able to acquire a better understanding of
this complicated interplay.

Rozhan bin Othman (1996) - In the Irish food industry, the relationship between strategy and
HRM practises was investigated. The study's major goal was to look into the link between
competitive strategy and HRM practise. A sample from the Irish food industry was used in the
investigation. For the study, companies with more than 25 employees were chosen, yielding a
total of 497 companies. A questionnaire addressing two important areas of HRM practise and
strategy was prepared and distributed to all of these companies' personnel / human resource
management. The study's findings did not support any of the proposed hypotheses.

Othman, R and Ismail Z (1996) - conducted an empirical study of the relationship between
HRM practise and strategy in Malaysia's service and manufacturing industries. The study was
founded on the notion that service organisations should establish a more strategic HRM approach
than manufacturing enterprises due to certain characteristics. In the preceding study, 545
companies from four manufacturing industries (electronics / electrical, textile, food, and plastic)
were selected.

CHAPTER 4

ANALYSIS AND INTERPRETATION OF DATA

 1. On what bases company provide compensation to their employees?
Number of Respondents
Options

Basic pay 9.70%

Commission 14.60%

Travel/meal/housing allowance 14.60%

All of above 61.20%

9.69%

14.59%

61.14%
14.59%

Basic pay Commission

Travel/meal/housing allowance All of above

Interpretation:
From the above chart it can seen that the 14.6% of respondents said that they provide
compensation to their employees on the bases of “commission” 14.6% on the bases of
“travel/meal/housing allowances” 9.6% bases of “Basic pay”, and 61.2% respondents from “all
of above
2. What kind of compensation you prefer?
Options Number of
Respondents
Monetary 19.40%

Rewarding 26.20%

Motivation 38.80%

Holiday package 15.50%

15.52%
19.42%

26.23%
38.84%

Monetary Rewarding Motivation Holiday package

Interpretation:
From the above chart it can seen that the 38.8% employees said that they prefer compensation
from Motivation, 26.2% are prefer from rewarding, 19.4% are Monetary and 15.5% are prefer
from holiday pay.

3. How much are you satisfied with the compensation you received from company?
Options Number of Respondents

Fully satisfied 21.40%

Satisfied 61.20%

Neutral 9.70%

Dissatisfied 7%

Fully dissatisfied 1%

6.98%

21.34%
9.67%
1.00%

61.02%

Fully satisfied satisfied neutral Dessatisfied Fully dissatisfied

Interpretation:
From the above chart it can seen that the 61.2 Employees satisfied with the compensation
received from company, 21.4% are fully satisfied, 9.7 are neutral 4.6 are dissatisfied and 1% are
fully des-satisfied

4. What do you think Shivashakti sugars is providing better compensation package to

the employee?
Options Number of Respondents

Yes 77.70%

No 22.30%

22.30%

77.70%

Yes No

Interpretation:
From the above chart it can seen that the 77.7% of respondents said that they think shivashakti
sugar is providing better compensation package to the employee and 22.3% are said NO for this

5. Is there different type of compensation for different type of services?

Options Number of
 Respondents

Yes 74.80%

No 25.20%

25.20%

74.80%

Yes No

Interpretation:
From the above chart it can seen that the 74.8% employees are responds for company provide
different type of compensation for different type of services and 25.2% are responded NO for
this

6. Is cash still king in employee compensation?

Options Number of Respondents

Yes 24.30%

No 75.70%

24.30%

75.70%

Yes No

Interpretation:
From the above chart it can seen that the 75.7% respondents said NO for cash is still king in
employee compensation and 24.3% are said YES for this

7. Are you getting training for improving the performance?

Options Number of Respondents

Yes 62.10%

No 15.50%

Can’t say 22.30%

22.32%

15.52%
62.16%

Yes No Can,t say

Interpretation:
From the above chart it can seen that the 62.1% Employees are getting training for improving
the performance, 15.5% not getting and 22.3 are can’t saying.

8.What is the age of the employees working in HR department?

Options Number of respondents

Below 25 6.80%

25 to 35 64.10%

35 to 45 27.20%

45 to 60 1.9%

6.80%

1.90%
27.20%

64.10%

Below 25 25 to 35 35 to 45 45 to 60

Interpretation:
From the above chart it can seen that the 6.8% employees are working below 25 age in HR
department, 64.1% are 25 to 35 age, 27.2% are 35 to 45 age and 2.% are 45 to 60 age.

9.Does employees of your company receive effective performance appraisal?

 Options Number of
respondents

Yes 72.80%

No 27.20%

27.20%

72.80%

Yes No

Interpretation:
From the above chart it can seen that the 72.8% Employees are receive effective performance
appraisal and 27.2% are not receive it.
 10. Is compensation based more on group performance and less on individual
contribution?

Option Number of
respondents

Yes 24.80%

No 56.40%

Can't say 18.80%

18.80%
24.80%

56.40%

Yes No Can't say

Interpretation:
From the above chart it can seen that the 56.4 respondents said NO for
compensations based more on group performance and less on individual
contribution, 24.8% are said YES and 18.8% are said they can’t say It.
 11.Are you free to give ideas to higher management?

Options Number of
respondents

Yes 73.80%

No 26.20%

26.20%

73.80%

Yes No

Interpretation:
From the above chart it can seen that the 73.8% Employees are free to give ideas to the higher
management and 26.2% are said NO for this.
 12.How many years you are working in Shivshakti Sugars ltd ?

Options Number of
respondents

1 to 5 15.50%

5 to 10 19.40%

10 to 20 59.20%

More than 20 years 5.80%

5.81%
15.52%

19.42%

59.26%

1 to 5 5 to 10 10 to 20 More than 20 years

Interpretation:
From the above chart it can seen that the 15.5% Employees have 1 to 5 years of Experience in
Shivashakti Sugars, 19.4% Employees are have 5 to 10 year Experience, 59.2% Employees are
have 10 to 20 year experience and 5.4% Employees are have more than 20 year experience
 CHAPTER 5

SUMMARY OF FINDING SUGGETION & CONCLUSION

FINDINGS

 It was found that 14.6% of respondents said that they provide compensation to their
employees on the bases of “commission” 14.6% on the bases of “travel/meal/housing
allowances” 9.6% bases of “Basic pay”, and 61.2% respondents from “all of above”.

 It was found that 38.8% employees said that they prefer compensation from Motivation,
26.2% are prefer from rewarding, 19.4% are Monetary and 15.5% are prefer from
holiday pay.

 It was found that 61.2 Employees satisfied with the compensation received from
company, 21.4% are fully satisfied, 9.7 are neutral 4.6 are dissatisfied and 3.6% are fully
des-satisfied

 It was found that 77.7% of respondents said that they think Shivashakti Sugar is
providing better compensation package to the employee and 22.3% are said NO for this

 It was found that 74.8% employees are responds for company provide different type of
compensation for different type of services and 25.2% are responded NO for this’

 It was found that 75.7% respondents said NO for cash is still king in employee
compensation and 24.3% are said YES for this

 It was found that 62.1% Employees are getting training for improving the performance,
15.5% not getting and 22.3 are can’t saying.
 It was found that 6.8% employees are working below 25 age in HR department, 64.1%
are 25 to 35 age, 27.2% are 35 to 45 age and 2.% are 45 to 60 age.

 It was found that 72.8% Employees are receive effective performance appraisal and
27.2% are not receive it.

 It was found that 56.4 respondents said NO for compensations based more on group
performance and less on individual contribution, 24.8% are said YES and 18.8% are said
they can’t say

 It was found that 73.8% Employees are free to give ideas to the higher management and
26.2% are said NO for this.

 I found that 15.5% Employees have 1 to 5 years of Experience in Shivashakti Sugars,

19.4% Employees are have 5 to 10 year Experience, 59.2% Employees are have 10 to 20
year experience and 5.4% Employees are have more than 20 year experience.
SUGGESTIONS
 Use continuous feedback

 Proper training should be given to the employees

 According to survey employees need to be recognized and motivated for the work done.

 Compensation should be given individually by measuring there work .

 Provide healthy working environment so that employees feel they are valuable for

company.

CONCLUSION
Compensation is an interesting area in human resource to study in the modern workplace,
compensation is very important as it aims at improving job satisfaction and also the staff morale

I would like to conclude my project by saying that the company has good and efficient
compensations compared to other companies. it has been a great experience for me. Moreover, a
survey that I conducted gave me a stronger and more helpful knowledge about the entire
research. I hope this report can be a helpful resource to use in future.

BIBILOGRAFY
http://www.shivashaktisugars.in

http://www.google.com

http://www.indiamart.com