Presentation KGA

8/13/2019 Presentation KGA

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Summer Internship at KGA

TEX KNIT

Submitted To Submitted By

Mr. Pankaj Goel Vipin Dhiman

BBA5thSem.

Roll No. 1106054

Employee Remuneration


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Company Profile - KGA TEX KNIT

KGA Tex Knit has over 20 years ofexperience in manufacturing fabrics,specialising in fleece fabrics and also

school wear.

KGA Tex Knit has two sides to thebusiness. Manufacturing fabrics, which

in turn enable us to manufacturegarments specialising in school wear.


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SERVICES OFFERED BY KGATEX KNIT

Fabric:

Specialising in fleecefabric. Our fleecefabrics collectioncomprises of 56different colours,offering our customersa range of choice, both

suitable for school wearand other types ofproduction.

Schoolwear:

The garment styles we cover

include sweatshirts, cardigans

and v- neck sweatshirts. Along

side these we produce joggingbottoms, zip up tops hooded

jumpers, all of which can be

produced with a piping. All of

which are made up of fabric

with a composition of Acrylic,Polyester and Cotton. We

produce garments from ages

2-3 up to age 13 plus size small,

medium, large and extra large.


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To be the worlds garmentsmanufacturer by 2020 with largeproduct varieties.


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To constantly enhance our customer'ssatisfaction by providing high qualityfabrics at competitive rates supportedby efficient services.

To always follow excellentmanufacturing practices in all ourproducts and services.

To provide customer delight with all our

stakeholders. Together we will achievemore by working and synergizingtogether.

To develop workforce that will partner

with management in its pursuit of


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Quality Objective

To timely manufacture & deliver to products

as per customers requirement

To bridge supply chain gaps to minimise loss

of revenue due to such gaps to 0 To minimise cases of wrong production &

late delivery to 0

To set the highest standards of customerservice

To minimise wastage, re-work and rejection

instances to 0.


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CLIENTELE

We supply to major garment factoriesin the UAE, Sri Lanka, Bangladesh,Vietnam, India, who in turn supply to

the major brands in the United Statesand Europe.

We also supply to major fabric retailers

directly in the U.S.A and Europe in rolland bolt packed ready for the shelves.


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Attract capable employees to the organization.

Motivate them towards superior performance.

Understand the need to link remuneration policies

and practices with an organisation's strategicbusiness objectives.

Explain the components of a systematicremuneration program.

Understand the mechanics of common jobevaluation systems.

Understand current issues in executiveremuneration.


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Research Methodology

RESEARCH DESIGN

The research design for this research is descriptive.

PRIMARY DATA

Primary data is collected on the basis of survey method with

the help of questionnaires. SECONDARY DATA

Secondary data is collected from the Books, Periodicaljournals, Magazines, News Papers, Company records, Internetand other publication.

SAMPLING TECHNIQUE

In this research study non probability convenience samplingis opted for.

SAMPLE SIZE:

A sample size of 100 employees of KGA TEX KNIT.


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1. Remunaration

Out of 100 employees get 70% benefit from

wage & salary and 30% fringe benefits.

However, the company ever provides them

the facility of incentive plans.


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2. Fringe Benefit

The company provided Travel expenses 60%,Medical leave with pay25%. Suggestion Reward15%. The company also provides the benefit ofbonus but it provide annually not for quality /Attendance.

0%

10%

20%

30%

40%

50%

60%

70%

ld age pension and retirement benefitsTravel expensesBonus for quality and attendanceInsuranceMedical leave with paySuggestion rewardUniversities and trade coursesHealth benefits

Percentage


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3. Working Period

Out of 100 employees through my study 15%employees are working from less than 1 year, 25%employees are working from 1 to less than 2 years,45% employees are working from 2 to less than 5years, 10% employees are working from 5 to lessthan 10 years and 5% employees are working from

10 years or more.


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4. Time Period

Out of 100 people employees get theirRemuneration on the due.


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5. Remuneration

100 employees Remuneration is fixedfor all employees.


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6. Incentives

90% of employees want incentives.


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7. Remuneration Impact

100% of employees says that the

Remuneration always affect the goodwill of

the company.


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FINDINGS

Fringe Benefits and Wage Salary are provided to workersin KGA Tex Knit.

There are no Incentive plans in KGA Tex Knit.

Fringe Benefits like Old Age Pension, Retirement benefits

and Bonus for Quality & Attendance and University &

Trade Courses are not provided in KGA Tex Knit,

There are no Insurance plans in KGA Tex Knit.

Remuneration is provided to workers on the due date inCompany

All most all the workers in KGA Tex Knit want Incentives. About 90% employees are satisfied with their

Remuneration, which puts a positive impact on the

Goodwill of the company.


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Suggestions

There should be Incentive plans in KGATex Knit to increase employee Moral.

There should be Insurance plans inKGA Tex Knit for the protection ofemployees.

There should be some benefits at thetime of Retirement.

There should be Bonus for Quality &Absenteeism.


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LIMITATIONS OF THE STUDY

The study is applicable only to KGA Tex Knit,Ludhiana. Therefore the results cannot begeneralized for the whole industry.

Due to time constraints the sample size had to beconfined to 100.

The respondents have replied to the queriesrecalling from their memory. Therefore recall biasand personal bias are possible.

Since the data was collected using a schedule, theinterviewer unable to understand and record theresponses correctly.

The respondents were unable or unwilling to give

response.


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CONCLUSIONOverall perception of KGA Tex Knit is good. From myresearch about Remuneration System in KGA Tex Knitconclude that workers in the companies are satisfiedwith their Remuneration, However, there is noInsurance and Incentives given to the workers.

Company should provide to workers Insurance Planand Incentive Plans to increase the moral of theworkers. Remuneration is provided to workers on adue date which is a good factor for the Goodwill of

the companies. There should bonus for quality andUniversity of Trade Courses for the worker'simprovement.


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