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Job satisfaction at the Indian Oil Corporation Limited’s refineries division

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  1. Introduction
  2. Indian Oil Corporation Ltd's profile
    1. Group of companies
    2. Major achievements
  3. The human resource department
    1. Objectives, functions and responsibilities
  4. Literature review on job satisfaction
  5. Dual-factor theory by Frederick Herzberg
  6. Hierarchy of needs by Abraham Maslow
  7. The need for achievement by David McClelland
  8. The need for affiliation and the need for power
  9. Expectanc theory of motivation by Victor Vroom
  10. Applying theory
  11. Research methodology
  12. Survey results
  13. Conclusion and suggestions
  14. References
  15. Questionnaire

Indian Oil Corporation Ltd. (Indian Oil) was formed in 1964 through the merger of Indian Oil Company Ltd. (Estd. 1959) and Indian Refineries Ltd. (Estd. 1958). It is currently India's largest company by sales with a turnover of Rs. 1, 83,204 crore (US $ 41 billion) and profits of Rs. 4,915 crore (US $ 1.10 billion) for fiscal 2005. Indian Oil is also the highest ranked Indian company in the prestigious Fortune ?Global 500' listing, having moved up 17 places to the153rd position this year based on fiscal 2005 performance. It is also the 21st largest petroleum company in the world and the # 1 petroleum trading company among the National Oil Companies in the Asia-Pacific region. Indian Oil and its subsidiaries account for 47% of the petroleum products market share among public sector oil companies, 43.5% of the national refining capacity and 74% of the petroleum products pipeline capacity. For the year 2005-06, the Indian Oil group sold 54.6 million tonnes of petroleum products, including 2.09 million tonnes through exports. The Indian Oil Group of companies owns and operates 10 of India's 18 refineries with a combined refining capacity of 60.20 million tonnes per annum (1.2 million barrels per day). These include two refineries of subsidiary Chennai Petroleum Corporation Ltd. (CPCL) and one of Bongaigaon Refinery and Petrochemicals Limited (BRPL).

[...] Herzberg called the factors which result in job satisfaction motivators and those that simply prevented dissatisfaction hygienes The factors that lead to job satisfaction (the motivators) are: achievement recognition work itself responsibility advancement The factors which may prevent dissatisfaction (the hygienes) are: company policy and administration working conditions supervision interpersonal relations money status security Hygienes, if applied effectively, can at best prevent dissatisfaction: if applied poorly, they can result in negative feelings about the job. Motivators are those things that allow for psychological growth and development on the job. [...]

[...] Company must try and create more motivating environment, which will bring job satisfaction among the employees and which is vital for deriving maximum return on human capital. However few suggestions are put up for consideration: It has been observed that employees of lower grade are not satisfied with the superior subordinate relationship in the company; they are not satisfied with the way their superiors behave with them. The company must go for some time to time recreational activities to improve the superior subordinate relationships. [...]

[...] Sample Size: 50 Research Tool A questionnaire was designed based on Herzberg's theory to know the responses on the level of job satisfaction. The questionnaire was distributed to employees taking into consideration different parameter such as their Grade, Experience at IOCL and their educational qualifications. The responses were collected within a week and analysis of the same was done on the basis of different parameters. SURVEY RESULTS 1. Clear and equally applied HR policies o Of grade iv viii employees strongly agree mostly agree somewhat agree and 20% rarely agree. [...]

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