Measurement of Work-Life Balance in the Employees of KB's Fairprice

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Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Guided By

Mr. ASHISH KUMAR SHASHI Assistant Manager – People Office KB’s Fairprice

Submitted by - AMIT KR. GUPTA Roll No. 06 MPMIR 3rd sem. (2012-14) BHU, VARANASI.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

ACKNOWLEGMENT

“To those who help you, if you can, you have to help them, otherwise tell other people about their help”.

–Latin Proverb

The satisfaction, which accompanies the successful completion of the project, is incomplete without the mention of a few names. I take this opportunity to acknowledge the efforts of the many individuals who helped me make this project possible. Firstly I would like to convey my heartfelt thanks to my parents Mr, R.K. Gupta & Mrs. S Gupta for their continuous support and motivation. I would like to express my gratitude to the Mr. Ashish Kumar Shashi (Assistant Manager – People Office) for providing me an opportunity to work in the K B’s Fairprice(a division of Future Group) and makes it a very memorable moment. I would also like to express my heartfelt gratitude to Mr. Rakesh Joshi (City head - K B’s Fairprice) . This project is a result of teaching, encouragement and inputs in the numerous meetings I had with them, despite their busy schedule. They made sure that my stay in the office was a learning experience. I would also like to thank all other departmental members for their constant support, continued encouragement and guidance throughout my training period. Finally, I would like to thank my Institute Master of Personnel Management and

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Industrial Relations, Banaras Hindu University for making this experience of summer training in an esteemed organization like Future Group possible. The learning from this experience has been immense and would be cherished throughout life.

DECLARATION

I hereby declare that the training in HR Department at KB’s Fairprice - a venture of Future Group has been attended by me from 20th may 2012 to 19th July, 2013, as a part of the partial fulfillment of the Two Year Full Time MASTERS OF PERSONNEL MANAGEMENT AND INDUSTRIAL RELATIONS.

Under the guidance of -

• Mr. Ashish Kumar Shashi (Assistant Manager – People Office) • Mr. Rakesh Chandra Joshi (City Head)

• Ms. Rakhi Sharma (Sr. Executive HR)

• Mr. Deepesh Saxena (Sr. Executive HR)

• Mrs. Dimple Chaudhary (Admin Executive)

The topic assigned to me was “Measurement of work-life balance in the employees of KB’s Fairprice, a venture of Future Group”

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

The above statement is true to the best of our knowledge.

PREFACE

The Summer Training is that integral part of academic curriculum conducted after first year of management program through which a student interacts with an industry. During the training, a student gets an exposure to the corporate world which provides him/her an opportunity to observe the environment of and industry at the same time understand the practical aspects of theory by making their concepts more clear.

This project report is the outcome of the summer training that I have undergone at K B’s Fairprice, a venture of Future Group. for the partial fulfillment of my Masters of Personnel Management & Industrial Relations.

The topic allotted to me by the company was “Measurement of work-life balance in the employees of K B’s Fairprice.” This project starts with a brief overview of the Future Group followed by introduction of the given topic,its background, and then the research methodology and conclusion of research and recommendations.

I have tried my level best to make a good report. This training has helped me a lot in understanding the work environment, organizational culture and human resource policies of the Future Group. With the learning and experience I had, my professional and educational development has been surely nourished.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice With the confident that the experience I had, will definitely help me in building my professional career; I hope the report will be beneficial for the Company as well.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

CONTENT

CONTENTS S.NO. PAGE NO. Company’s profile 1 6-28

Background of the study 2 29- 42 Research methodology 3 43- 46 Data analysis and inferences 4 47- 59 Conclusion 5 60

Recommendation 6 61- 62 Bibliography 7 63

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

COMPANY PROFILE

Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of India’s leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics.

Led by its flagship enterprise, Pantaloon Retail, the group operates over 16 million square feet of retail space in 73 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail.

The group’s speciality retail formats include supermarket chain - Food Bazaar, sportswear retailer - Planet Sports, electronics retailer - eZone, home improvement chain -Home Town and rural retail chain - Aadhaar, among others. It also operates popular shopping portal - www.futurebazaar.com.

Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the group’s

Measurement of Work-Life Balance in the Employees of KB’s Fairprice core value of ‘Indianness.’ The group’s corporate credo is, ‘Rewrite rules, Retain values.

Kishore Biyani

Kishore Biyani is the Managing Director of Pantaloon Retail (India) Limited and the Group Chief Executive Officer of Future Group. He has led Pantaloon Retail’s emergence as the India’s leading retailer operating multiple retail formats that now cater to almost the consumption basket of a large section of Indian consumers.

Kishore Biyani led the company’s foray into organized retail with the opening up of the Pantaloons family store in 1997. This was followed in 2001 with the launch of Big Bazaar, a uniquely Indian hypermarket format that democratized shopping in India. It blends the look, touch and feel of Indian bazaars with aspects of modern retail like choice, convenience and quality. This was followed by a number of other formats including Food Bazaar, Central and Home Town.

The year, 2006 marked the evolution of Future Group, that brought together the multiple initiatives taken by group companies in the areas of Retail, Brands, Space, Capital, Logistics and Media.

Kishore Biyani was awarded the Ernst & Young Entrepreneur of the Year – Services and the Lakshmipat Singhania-IIM Lucknow Young Business Leader.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Award by the Prime Minister, Dr. Manmohan Singh in 2006. He was also awared the Ernst & Young Entrepreneur of the Year 2006 in the Services Sector and the CNBC First Generation Entrepreneur of the Year 2006.

Kishore Biyani was born in August, 1961 and is married to Sangita and they have two daughters. He recently authored a book, ‘It Happened In India’ that captures his entrepreneurial journey and the rise of the growth of modern retailing in India.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

FUTURE BUSINESSES RETAIL

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

FUTURE MANIFESTO

"Future" - the word which signifies optimism, growth, achievement, strength, beauty, rewards and perfection. Future encourages us to explore areas yet unexplored, write rules yet unwritten; create new opportunities and new successes. To strive for a glorious future brings to us our strength, our ability to learn, unlearn and re-learn, our ability to evolve.

We, in Future Group, will not wait for the Future to unfold itself but create future scenarios in the consumer space and facilitate consumption because consumption is development. Thereby, we will effect socio- economic development for our customers, employees, shareholders, associates and partners.

Our customers will not just get what they need, but also get them where, how and when they need.

We will not just post satisfactory results, we will write success stories.

We will not just operate efficiently in the Indian economy, we will evolve it.

We will not just spot trends, We will set trends by marrying our understanding of the Indian consumer to their needs of tomorrow.

It is this understanding that has helped us succeed. And it is this that will help us succeed in the Future. We shall keep relearning. And in this process, do just one thing...

Rewrite Rules, Retain Values

Measurement of Work-Life Balance in the Employees of KB’s Fairprice NOTE : PRESENTLY PANTALOONS HAS BEEN TAKEN OVER BY ADITYA BIRLA GROUP.

Future Vision & Mission

Our Vision:

Future Group shall deliver Everything, Everywhere, Everytime for Every Indian Consumer in the most profitable manner.

Our Mission

• We share the vision and belief that our customers and stakeholders shall be served only by creating and executing future scenarios in the consumption space leading to economic development. • We will be the trendsetters in evolving delivery formats, creating retail realty, making consumption affordable for all customer segments - for classes and for masses. • We shall infuse Indian brands with confidence and renewed ambition. • We shall be efficient, cost- conscious and committed to quality in whatever we do.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • We shall ensure that our positive attitude, sincerity, humility and united determination shall be the driving force to make us successful.

Future Core Values

• Indianness: Confidence in ourselves.

• Leadership: To be a leader, both in thought and business.

• Respect and Humility: To respect every individual and be humble in our conduct.

• Introspection: Leading to purposeful thinking.

• Openness: To be open and receptive to new ideas, knowledge and information.

• Valuing and Nurturing Relationships: To build long term relationships.

• Simplicity and Positivity: Simplicity and positivity in our thought, business and action.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

• Adaptability: To be flexible and adaptable, to meet challenges.

• Flow: To respect and understand the universal laws of nature.

Future Leadership Team

Executive Committee Board

Kishore biyani Founder and Group CEO, Future Group Anushuman Singh Managing Director and CEO, Future Supply Chain Solution Limited B.Anand Director Finance, Future Group Kailash Bhatia Director and CEO, Pantaloon Ltd

Measurement of Work-Life Balance in the Employees of KB’s Fairprice K.K.Rathi CEO, Future Ventures India Ltd GR Venketesh Chief People Officer, Future Group Santosh Desai Managing Director and CEO, Brand India Ltd Sumit Debriwala Managing Director, Agre Developer Ltd V.Vaidyanathan Vice Chairman and MD, Future Capital Holding Ltd

Founders’ Board

Kishore Biyani Group CEO, Future Group Anil Biyani Director, Future Group Rakesh Biyani Director, Future Group Sunil Biyani Director, Future Group Vijay Biyani Director, Future Group

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Future Strategy

A new normal is being defined in the Indian consumer market every day. With far-reaching socio-economic changes that India has undergone in the last decade, the drivers in urban and rural India are maturing fast. With a growth strategy tempered with localization and an inclusive business model, Future Group is the only pure play local retailer poised to lead India’s consumption story with sustainable value creation. Our multi-format retail strategy captures almost the entire consumption basket of Indian customers. As modern retail drives new demand, efficiency and consumption in new categories, our strategy is based on our deep understanding of Indian consumers. We understand the varied buying behavior of the Indian consumer across regional ethnicities and are constantly innovating to craft strategies that address the subtle differences. Future Group's strategy is aimed at achieving inclusive, sustained and profitable growth with three levers

Customer-orientation The bottom line in each of our retail success stories is "know your customer". Insights into the soul of Indian consumers - how they operate, think, dream and line - helps us innovate and create differentiating functionally. Continuous-innovation

As India's largest retailer, we understand the importance of innovation. We rethink strategies and realign businesses with

Measurement of Work-Life Balance in the Employees of KB’s Fairprice increasing agility to provide diverse customer groups with refreshingly different retail experiences. Collaborative transformation Creating a collaborative environment combining our strengths with our suppliers and vendors helps us create immense value for our customers which in turn fosters matual growth.

We believe that modern Indian retail rests on the strength of two pillars – scale and efficiencies. As front-runners in both areas, we firmly believe our core responsibility lies in providing protection to customers from the overall rate of inflation. While the scale and size of our operations helps us improve efficiencies, it also ensures we deliver greater value to our customers. Our retail thrust is focused on four principal verticals of Food, Fashion, General Merchandise and Home. These four categories together account for nearly 65% of the consumption in the country and represent mass consumer aspirations. Acknowledging this, we are creating retail pure play through divestment and demerger of non-retail businesses to concentrate our efforts on these verticals. India’s retail boom is being driven by resurgence in the economy. Modern retail still has around 6% share of the total retail spend in the country, which is estimated at around US $ 400 billion. Thus, the potential for modern retail growth in India is huge. Currently, leading retailers in mature markets occupy the top three slots by turnover, employment and value creation. As the Indian economy matures, it is upon us to make the same happen in our country.

Future Milestones

Measurement of Work-Life Balance in the Employees of KB’s Fairprice 1987

• The company is incorporated under the name of Manz Wear Private Limited. • Pantaloons, one of India’s first formal trouser brands,is launched.

1991

• BARE, an Indian denim brand is launched.

1992

• Pantaloon Retail India Ltd makes an Initial public offer (IPO).

1994 • The Pantaloon Shoppe, Future Group’s exclusive menswear store in a franchisee format is launched across the nation. The company starts • distribution of branded garments through multi-brand retail outlets across the nation.

1995

• Future Group launches John Miller, a brand for Formal shirts.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice 1997

• Future Group enters modern retail with the launch of the first 8000-sq. ft. store Pantaloons in Kolkata.

2001

• Future Group launches three Big Bazaar stores within a span of 22 days in Kolkata, Bangalore and Hyderabad.

2002

• Food Bazaar, the supermarket chain is launched.

2004

• Future Group launches India’s first seamless mall, Central, in Bangalore.

2005

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Future Group moves beyond retail and acquires a stake in Galaxy Entertainment, Indus League Clothing and Planet Retail • Future Group sets up Kshitij, India’s first real estate investment fund, to build a chain of shopping malls.

2006

• Future Capital Holdings, the group’s financial arm, is formed to manage over $1.5 billion in real estate, private equity and retail infrastructure funds. • Home Town, the home building and improvement products retail chain, is launched along with consumer durables format Ezone and furniture chain Furniture Bazaar. • Future Group enters into joint venture agreements to launch insurance products with Italian insurance major Generali. • Future Group forms joint ventures with US office stationery retailer Staples.

2007

• Future Group crosses the $1 billion turnover mark. • Specialized companies in retail media, logistics, IPR and brand development and retail-led technology services become operational. • Pantaloon Retail wins the International Retailer of the Year award at US-based National Retail Federation convention in New York, and Emerging Retailer of the Year award at the World Retail Congress held in Barcelona. • Online portal Futurebazaar.com becomes India’s most popular shopping portal.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice 2008

• Future Capital Holdings becomes the second group company to make a successful Initial Public Offering (IPO) in the Indian capital market. • Big Bazaar crosses the 100-store mark, marking one of the fastest expansions of the hypermarket format anywhere in the world. • Total operational retail space crosses the 10 million square feet mark. • Future Group acquires rural retail chain Aadhar from the Godrej Group, which has a presence in 65 rural locations.

2009

• Future Group celebrates its first Shopping Festival across all retail formats in key Indian cities. • Future Innoversity starts its campuses in Ahmedabad, Bangalore and Kolkata to offer degree programs through a tie-up with IGNOU. • Future Group partners with Hong Kong-based Li & Fung Group to strengthen its supply chain and logistics network across the country.

2010

• Future Group launches its telecom brand T24 in partnership with Tata Teleservices to provide additional loyalty benefits to its customers.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Future Group launches products in key FMCG categories through Sach, a brand co-created with Sachin Tendulkar. • Future Group connects over 4000 small and medium Indian manufacturers and entrepreneurs with consumers.

2011

• April 2011 – KB’s Fairprice celebrates opening its 200 stores in India • May 2011 – Future Supply Chains becomes ISO certified

Future Recognition

2012

CISO Award 2012

• Future Group was felicitated for using Information security technology in the most effective and innovative manner Golden Spoon Awards 2012 • Most Admired Food and Grocery Retailer of the Year for its Private Labels in Big Bazaar – Future Group • Retail Professional of the Year for innovation in Private Brands- Mr. Devendra Chawla, President – Food & FMCG Category Images Fashion Awards (IFA) 2012 • Most Admired Private Label Retailer - Pantaloons ET Retail Awards 2012 • FedEx Most Trusted Retailer of the Year Award – Big Bazaar

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • TRRAIN Retail Employee of the Year Award – Mr. Jitendra Kalyani, Big Bazaar Recognition by CMO Council, USA and CMO Asia • Master Brand Award - Future Supply Chains

• Retail Icon of the Year- Mr. Anshuman Singh, MD & CEO, Future Supply Chains Bloomberg UTV B-School Excellence Award • Best educational institute in Retail- Future Innoversity

2011

Designomics Awards 2011 - Recognising Businesses that build value through Design • Winning Designomist at the World Brand Congress 2011 - Future Group CNBC AWAAZ Consumer Awards 2011 • Most Recommended Modern Retail Brand of the Year in the Popular Choice category- Big Bazaar Brand Equity’s Most Trusted Brands 2011 awards • Most Trusted Retailer - Big Bazaar Images Retail Awards 2011 • Most Admired Retailer of the year 2011 in the Home Products Category-HomeTown Excellence Awards & Recognition – 2011 for Finance & Accounting Transformation through Shared Services • Best Shared Service Centre (SSC) for the category of Shared Service Centre Servicing Clients in an Indian Sub-Continent- nuFuture Digital India Ltd. (NDIL) Golden Spoon Awards 2011 • Most Admired Food & Grocery Retailer of the Year: Private Labels – Food Bazaar

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Most Admired Retail Professional in Food & Grocery category – Mr. Damodar Mall, Head, Integrated Food Strategy. Marketing Excellence Awards 2011 held by Indira Group Of Institutes • Best Employer Of The Year - Future Supply Chains DNA and Stars of the Industry Group Innovative B-school Awards

• Star News National B-School Award for being an outstanding B School with an Industry Related Curriculum – Future Innoversity ACE (Awards for Customer Excellence) 2011 • 2011 SAP ACE award in the Best-Run Business in Mobility Adoption - Pantaloon Retail Franchise India Expo 2011 • Best Food And Grocery Chain Of 2011 - Food Bazaar • Best Value Retailer of 2011 - Big Bazaar • Best Brand Licensee In FMCG - Walt Disney Brands By Future Consumer Enterprises Industry Institute Partnership Symposium • Appreciation for contribution to placement of over 75 rural Below Poverty Line youth at McDonalds – Mr. Ayan Thankur, Future Learning Star News Brand Excellence (B.E.) Awards • Brand Excellence (B.E.) Awards in the Retail Sector - Future Group ICAI Awards 2011 • CFO - Service Sector category – Mr. C.P.Toshniwal Food Retail & SCM and Agro Logistics: Summit & Awards 2011 • Food Supply Chain Company Of The Year In Retail Category - Food Bazaar

2010

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Images Fashion Awards 2010 • Most Admired Large Format National Fashion Retailer of the Year - Central

• Titan IFA Most Admired Large Format Retailer of the Year – Central Images Retail Awards 2010 • Most Admired Food & Grocery Retailer of the Year : Private Label – Pantaloon Retail Coca-Cola Golden Spoon Awards 2010 • Most Admired Retail Group of the Year - Future Group • Most Admired Retailer in Food Category - Food Bazaar • Most Admired Retailer in Hypermarket Category - Big Bazaar CNBC Awaaz Consumer Awards • Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar • Most Preferred Multi Brand Retail Outlet- Big Bazaar • Most Preferred Multi Brand One Stop Shop- Big Bazaar Golden Spoon Awards 2010 • Most Admired F&G Retailer of the Year: Private Label - Pantaloon Retail • Most Admired F&G Retailer of the Year: Large Formats - Big Bazaar exchange4media Radio Advertising Awards (ERAA)2010 • Advertiser of the year - Future Group • Best Brand Integration on Radio (Retail): GOLD - Fashion@BigBazaar - RJ Style O Meter • Best On Ground Activation for a client (Retail): GOLD - Fashion@BigBazaar - RJ Style O Meter • Best Use of Radio in a Media Plan: SILVER – Fashion@BigBazaar - RJ Style O Meter • Best Brand Integration on Radio (Retail): SILVER - Pantaloons 3 Idiots

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Best Campaign of the year: SILVER - Future Group Shopping Festival Asia’s Best Employer Brand Awards • HR Leadership award - Mr. Ameet Naik, General Manager– HR FHDL • Employer of the Year (Retail Category) by Indira Group of Institutes – Future Learning & Development Limited (FLDL)

2009

CNBC Awaaz Consumer Awards 2009 • Most Preferred Multi Product Chain - Big Bazaar • Most Preferred Multi Brand Food & Beverage Chain - Big Bazaar Images Fashion Forum 2009 • Most Admired Fashion Group Of The Year - Future Group • Most Admired Private Label - Pantaloons, lifestyle format • Critics’ Choice for Pioneering effort in Retail Concept Creation – Central Indian Retail Forum 2009 • Most Admired Retail Group of the Year - Future Group Asia Retail Congress 2009 • Retail Marketing Campaign of the year - Future Group - The Great Indian Shopping festival • Retailer of the Year – Hypermarkets - Future Group Golden Spoon Awards 2009 • Most Admired Food & Grocery Retailer Of The Year – PRIL • Most Admired F&G Retailer of the Year: Large Formats - Big Bazaar

• Most Admired F&G Retailer of the Year: Private Label - Pantaloon Retail The Gurukul Awards • The Best Upcoming Institute Award – Future Learning & Development Limited (FLDL)

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Indian Merchant Chambers and Asian Centre for Corporate Governance and Sustainability • Best Audit Committee 2009 Award for Pantaloon Retail In-Store Asia 2009 • Gold in Sports & Equipment Category - Planet Sport Vashi Central • Gold in Departmental Store of the Year - Goregaon Central • Gold in Shopping Mall & Arcade of the Year - Gurgaon Central • Merit in Window Display of the Year – HomeTown • Merit for Electronic store larger than 5000 sq.ft - eZone Goregaon • Merit for Best Visual Merchandising - Future Axiom

2008

Indian Retail Forum Awards 2008 • Most Admired Retail Group of the year – Future Group • Most Admired Retail Face of the Year - Kishore Biyani • Most Admired Retailer (Hypermarket) – Big Bazaar The INDIASTAR Award 2008 • Food Bazaar: Best Packaging Innovation

With this award, Pantaloon Retail (India) Limited becomes the first Indian Retailer to win the prestigious INDIASTAR Award. Retail Asia Pacific 500 Top Awards 2008 • Gold Winner - Top Retailer 2008 Asia Pacific Coca-Cola Golden Spoon Awards 2008 • Most Admired Food & Grocery Retail Visionary of the Year: Kishore Biyani. • Most Admired Food & Grocery Retailer of the Year – Supermarkets: Food Bazaar. • Most Admired Food & Grocery Retailer of the Year - Hypermarkets: Big Bazaar.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Most Admired Retailer of the Year - Dynamic Growth in Network Expansion across Food, Beverages & Grocery: Future Group. • Most Admired Food & Grocery Retailer of the Year - Consumer's Choice: Big Bazaar. The Reid & Taylor Awards for Retail Excellence 2008 • Retail Leadership Award: Kishore Biyani • Retail Best Employer of the Year: Future Group • Retailer of The Year: Home Products and Office Improvements: HomeTown CNBC Awaaz Consumer Awards 2008 • Most Preferred Multi Brand Food Retail- Big Bazaar

2007

Images Retail Awards • Most Admired Retail Face of the Year: Kishore Biyani • Most admired retailer of the year: Large format, multi product store: Big Bazaar

• Most admired retailer of the year: Food and Grocery: Food Bazaar • Most admired retailer of the year: Home & office improvement: HomeTown • Most admired Retail Company of the year: Pantaloon Retail (India) Ltd. National Retail Federation, New York • International Retailer for the Year 2007 – Pantaloon Retail (India) Ltd. World Retail Congress, Barcelona • Emerging Market Retailer of the Year 2007 – Pantaloon Retail (India) Ltd. Hewitt Best Employers 2007 • Best Employers in India (Rank 14th) – Pantaloon Retail (India) Ltd.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice PC World Indian Website Awards • Best Indian Website In The Shopping Category - Futurebazaar.com Reader’s Digest Trusted Brands Platinum Awards • Trusted Brands Platinum Award (Supermarket Category) – Big Bazaar

2006

Retail Asia Pacific Top 500 Awards, Singapore • Asia Pacific Best of the Best Retailers – Pantaloon Retail (India) Ltd • Best Retailer in India – Pantaloon Retail (India) Ltd Asiamoney Awards • Best Managed Company in India (Mid-cap) – Pantaloon retail (India) Ltd. Ernst & Young Entrepreneur of the Year Award • Ernst & Young Entrepreneur of the Year (Services) – Kishore Biyani CNBC Indian Business Leaders Awards

• The First Generation Entrepreneur of the Year – Kishore Biyani Lakshmipat Singhania – IIM Lucknow National Leadership Awards • Young Business Leader – Kishore Biyani CNBC Awaaz Consumer Awards • Most Preferred Large Food & Grocery Supermarket – Big Bazaar Images Retail Awards • Best Value Retail Store – Big Bazaar • Best Retail Destination – Big Bazaar • Best Food & Grocery Store – Food Bazaar • Retail Face of the Year – Kishore Biyani Reader’s Digest Awards

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Platinum Trusted Brand Award - Big Bazaar Reid & Taylor Awards for Retail Excellence • Retail Entrepreneur of the Year – Kishore Biyani

2005

Images Retail Awards 2005 • PRIL- Most Admired Retailer of the Year • Food Bazaar- Retailer of the Year(Food and Grocery) • Big Bazaar-Retailer of the Year(Value Retailing) • Central-Retail Launch of the Year Voted by Business Today magazine as one of the • Top 20 Companies in India to watch in 2005

• India’s most investor-friendly companies in the top 75 • India’s Biggest wealth creators in the top 100 DAKS London • PRIL- Brand Builder of the Year

2004

Images Retail Awards 2004 • PRIL- Most Admired Retailer of the Year • Food Bazaar- Retailer of the Year(Food and Grocery) • Big Bazaar-Retailer of the Year(Value Retailing) • Central-Retail Launch of the Year Reid & Taylor and DLF Awards • PRIL - Retailer of the year

2003

Indian Express Award

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • PRIL – Marketing Excellence and Excellence in Brand Building Indusland Bank (India Brand Summit) • PRIL - Excellence in Brand Buildin

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Future KB’s Fairprice

KB’s FairPrice are neighborhood Convenience stores spread across an average area of 600 to 1,100 sq. ft. These are simple but modern, self-service ration shops. These stores retail only 1800 essential products at simply the lowest prices in town. A cluster approach is used to open these stores as it helps build awareness in the locality. Costs for logistics, transportation of products to the stores etc., also get spread out in a similar fashion. KB’s FairPrice are no frills stores. They are not air-conditioned, products are displayed in cartons and not even the ubiquitous shopping bag is provided free-of-cost to shoppers. This format with a tagline ‘Bachat Hi Bachat’ (Savings and More Savings) is structured in a fashion that allows it pass on maximum savings to customers. With its innovative pricing and locations, KB’s FairPrice is a completely new face of modern retail that touches the lives of thousands of people.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Background of The Study

Phrases and words serve as cultural signposts to explain where we are and where we are going. The term “work/life balance” was coined in 1986, although its usage in everyday language was sporadic for a number of years. Interestingly, work/life programs existed as early as the 1930s. Before World War II, the W.K. Kellogg Company created four six-hour shifts to replace the traditional three daily eight-hour shifts, and the new shifts resulted in increased employee morale and efficiency.

Rosabeth Moss Kanter’s seminal book (1977),Work and Family in the United States: A Critical Review and Agenda for Research and Policy, brought the issue of work/life balance to the forefront of research and organizations.2 In the 1980s and 1990s, companies began to offer work/life programs. While the first wave of these programs were primarily to support women with children, today’s work/life programs are less gender-specific and recognize other commitments as well as those of the family.

Work/life balance initiatives are not only a U.S. phenomenon. Employees in global communities also want flexibility and control over their work and personal lives. However, for the purpose of this article, the research and surveys presented focus on work/life balance in the United States. Defining

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Definition

Work-life balance is about helping staff to maintain healthy, rewarding lifestyles that will in turn lead to improvements in productivity and performance. Strategies to achieve balance will differ between organizations, partly depending on their function, the types of work roles they offer, and their workforce profile.

The meaning of work/life balance has chameleon characteristics. It means different things to different groups, and the meaning often depends on the context of the conversation and the speaker’s viewpoint. The following are working definitions of terms used regarding work/life balance; some definitions overlap and some are continuing to evolve.

• Work/family: a term more frequently used in the past than today. The current trend is to use titles that include the phrase work/life, giving a broader work/life connotation or labeling referring to specific areas of support (e.g., quality of life, flexible work options, life balance, etc.)

• Work/family conflict: the push and pull between work and family responsibilities.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Work/life balance from the employee viewpoint: the dilemma of managing work obligations and personal/family responsibilities.

• Work/life balance from the employer viewpoint: the challenge of creating a supportive company culture where employees can focus on their jobs while at work.

• Family-friendly benefits: benefits that offer employees the latitude to address their personal and family commitments, while at the same time not compromising their work responsibilities.

• Work/life programs: programs (often financial or time- related) established by an employer that offer employees options to address work and personal responsibilities.

• Work/life initiatives: policies and procedures established by an organization with the goal to enable employees to get their jobs done and at the same time provide flexibility to handle personal/family concerns.

• Work/family culture: the extent to which an organization’s culture acknowledges and respects the family responsibilities and obligations of its employees and encourages management and employees to work together to meet their personal and work needs.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Work-Life Balance within the Workplace Why do we need them?

• Retention and attraction strategies are an important means for attracting and retaining skilled employees -particularly in areas where there is a high staff turnover, difficulties in recruiting and retaining skilled staff, a competitive job market, and labour and skill shortages.

• One of the first strategies to consider is current work arrangements and management practices that may be contributing to the difficulty in attracting and retaining staff. This may require the assistance of an external person to the work area who may be able to see work and management practices more objectively and therefore obtain more

Measurement of Work-Life Balance in the Employees of KB’s Fairprice detailed comments and views from both management and staff.

• Staff leaves an organization for many reasons, including career advancement, better job opportunities and retirement. These departures may be difficult to prevent. However, another key reason staff – and in particular women - leave their job is to find a better work life balance. Changes to the family situation tends most often to impact upon women and results in increasing difficulty in managing a balance between work and family responsibilities. Factors shown to impact the most upon staff trying to balance work and life include required hours of work, a lack of flexibility in being able to alter their working hours, time off or leave

• Arrangements, a lack of access to suitable childcare arrangements, and undue stresses and tensions in the workplace which make working life more difficult and/or even unpleasant.

• Employees who are able to balance their work, family and life commitments have been shown to be happier in their job and are more likely to stay and work towards a rewarding and productive career.

• The cost of replacing skilled staff has been estimated by various organizations and businesses to be between $20,000 - $50,000 per Employee. This includes the cost of lost productivity of the departed employee, and time taken by staff involved in the selection, recruitment, induction and on-the-job training processes to bring the new recruit up to the level of productivity of the former employee. Additional

Measurement of Work-Life Balance in the Employees of KB’s Fairprice costs are incurred in advertising, engaging recruitment agencies, and temporarily filling the vacancy left by the departed employee until the new recruit is working at a reasonable level of productivity.

• Improving staff retention rates must, therefore, generate cost savings, and these savings could be used to improve flexibilities, facilities and working conditions for all employees.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Benefits Of Work-Life Balance For Employer:

•Reduced absenteeism and lateness.

•Improved employee morale and commitment.

•Reduced stress and improved productivity.

•A more flexible workforce.

•Increased ability to attract and recruit staff.

•Potential for improved occupational health and safety.

•Fulfillment of equal opportunity objectives.

•Good corporate citizenship and an enhanced corporate image. For Employees:

•Ability to manage work and individual commitments.

•Improved personal and family relationships.

•Flexible working arrangements resulting in reduced work overload and stress.

•Increased focus, motivation and job satisfaction knowing that family and work commitments are being met.

• Increased job security from the knowledge that an organization understands and supports workers with family responsibilities.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

• Increased ability to remain employed.

.• Increased ability to remain competitive in career advancement.

• Improved health and wellbeing of staff.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Management Actions for creating Work-Life Balance

1. Positive “Work life Balance” thinking – treating staff as adults who are balancing their work commitments with their family/personal responsibilities, and being positive about making changes to create a more flexible workplace in all aspects of employee relations. The importance of modeling best practices work life balance “from the top” cannot be under estimated.

2. “Work Life Balance” policy – have a clear policy statement which announces that the “WA Health is committed to providing a flexible responsive workplace, which enables all employees to balance work and family/personal responsibilities,” which is incorporated into core values statements and corporate plans, and supported by policy guidelines outlining what that means for everyone in the workplace.

3. “Work Life Balance” employer - WA Health be promoted as an employer who respects and cares about its employees, who recognizes that they will have family and personal responsibilities, and who provides flexibilities. Factors shown to impact the most upon staff trying to balance work and life include required hours of work, a lack of flexibility in being able to alter their working hours, time off or leave arrangements, a lack of access to suitable childcare arrangements, and undue stresses and tensions in the workplace which make working life more difficult and/or even unpleasant.

4. Awareness of entitlements - increase awareness of employees’ entitlements to access flexible working arrangements, and what assistance and services are available to them directly or by referral.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

5. “Work Life Balance” survey – conduct a survey to identify staff needs in balancing work and family/personal life responsibilities, current awareness of flexible work options, and suitability of current working arrangements.

Incorporate results into the human resource management plan and staff work planning arrangements.

6. Implement flexible work practices – this will provide greater flexibility to all employees, including supervisors, managers and other senior staff, and will ensure flexible working hours schedules, rosters and leave arrangements to accommodate their family and personal responsibilities, without detriment or penalty.

7. Willingness to pilot or trial initiatives – all managers and supervisors to demonstrate commitment to creating a flexible workplace that supports work life balance by considering employees’ needs and requests, and be willing to pilot or trial new initiatives and implement more flexible working arrangements.

8. Management accountability – managers to be responsible and accountable for implementing work life balance arrangements, reducing staff turnover rates and increasing retention rates in their work area. Managers to be made accountable for decisions to refuse employees’ requests for more flexible working arrangements.

9. Management Training – training and development programs for managers should include human resource management skills, the benefits of creating work life balance, and how to manage a more flexible workforce.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

10. Pre-exit interviews – pre-exit interviews that include questions such as whether difficulties in balancing work and family/personal responsibilities were a contributing factor to the employee leaving, to be conducted prior to the employee leaving. This data to be collated analyzed and reported to senior management. Where possible, alternative working arrangements should be offered to assist employees remain with a better work life balance.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Policies

1. Flexible working hours - providing more flexible and consultative rostering arrangements and working hours to all employees, including shift workers.

2. Part time work - providing more part time jobs with less hours or fewer shifts, or job sharing arrangements to all employees.

3. Reasonable working hours - reducing excessively long working hours and double shifts.

4. Access to childcare - improving access to childcare with onsite childcare facilities and giving shift workers, who need access to childcare facilities, regular fixed shifts.

5. Flexible leave arrangements - providing greater flexibility in leave arrangements to suit employees’ persona circumstances, including leave for school holidays through purchased leave arrangements and extended leave without pay to provide full time care to family members.

6. Leave in single days - allowing employees to request and take leave in single days and accrued hours as time off in lieu of payment.

7. Job mobility - providing increased mobility for employees to transfer between wards, hospitals, work areas and health services to find more suitable working arrangements that will assist them to better balance their current work and family/personal responsibilities.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

8. Safety and wellbeing - improving safety, wellbeing and respect for all employees in the workplace.

9. Telephone access - ensuring all employees are able to receive urgent telephone calls or messages from family members at work and have access to a telephone to remain contactable with their family during working hours.

10. Casual work - introducing pools of permanent flexible part time or casual employees, similar to NurseWest, in other occupations to cover leave and other absences.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Global Perspectives on Work-Life Balance New Zealand

•Using personal sick leave to care for others

•Flexible break provisions

•Study leave Netherlands

Initiatives to give workers more control over their working time, such as the Netherlands' Adjustment of Hours Law assists workers in improving their work life balance.

Australia

• Flexible working hours

• Work location options

• Employee friendly working arrangements

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Paid parental leave

• Job sharing and part time work

• Promoting healthy life style alternatives through membership of gym and other recreational clubs

Indian Perspectives On Work-Life Balance NIIT Innovative allowances for employees who were dating, got engaged and soon. These policies ensured recruitment of promising talent and a motivated workforce. IBM

• Free membership to children of all IBMers to the GenieKids Resourcecenter through out the year - The Resource Center houses a library, activitybased games, pottery classes, computer classes etc.

• IBM employees can also attend Parenting Workshops at the ResourceCenter, covering topics like "Developing Child's Intelligence","Communicating towards better parenting", "Developing parent- child relationships", at discounted rates throughout the year

Accenture

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Incorporated family events into its employee calendars, with social gatherings or outings where the whole family comes together. Mandatory number of holidays, discounted gym and saloon memberships and even in-house work-life effectiveness managers and career counselors are all attempts by Accenture to counter stress and maintain the work life balance.

INFOSYS

• Paternity leaves

• Exams for employees who are interested in other profiles, Job Rotation

• Lady employee will be allowed to work from home (for particularly new mothers)

• Initiated a pilot project for employees giving them an opportunity to opt for a one-year sabbatical at any point in their careers

WIPRO

• Education

• Medical

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

• Housing

• Canteen and other Recreational facilities

• Club membership

• Insurance Policy

• Freedom Of association

Research Methodology Research Objective

The Project was undertaken to fulfill the following objectives:

• To measure the current status of Work-Life balance among employees of KB’s Fairprice (a division of Future Group) • To understand the various policies enacted by future group, for their employees, in order to make their work-life balance easier • To suggest measures, both to employer and employee , on how to balance Work-Life Research Plan

Measurement of Work-Life Balance in the Employees of KB’s Fairprice The flowchart of my research plan is as follows

Understanding the various welfare measures taken by Future group for their employees in order to balance their Work-Life

Analysis of primary & secondary data and drawing inferences

Conclusions & Recommendations

Figure::Techniques Of Data Collection

Research design

• Population: Employees of K B’s Fairprice • Sample size: 150. • Instrument: Sample survey • Sampling technique: Non probability sampling technique • Tools: Questionnaire • Location: India • Duration: Two months

Measurement of Work-Life Balance in the Employees of KB’s Fairprice Data collection design

The data collection was primarily done through distribution of questionnaires among employees of KB’s Fairprice (a division of Future group). Secondary data was collected through related books, magazines, articles and websites.

Data Collectio n Design

Primary Secondar y Data Data

Related Related Related Books Books Survey articles and 51 and on magazine magazine InternetInternet s Related Related Related Books Books Survey articles and and on magazine magazine InternetInternet s

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Data Collection

Primary Data

• Questionnaire Method

A questionnaire was prepared and sent to various stores of KB’s Fairprice (a division of Future Group). Further administration and sending reminders for acquiring back the filled in questionnaire was done through telecommunication. It allows for standardization and uniformity both in the questions asked and in the method of approaching the subjects, making it far easier to compare and contrast answers by the respondent group. It also ensures higher reliability than some other techniques.

Secondary Data

A number of books and magazines were referred for understanding insight of recruitment, its procedure & importance in current scenario. Also the internet was accessed to gather relevant information from related websites and various articles on internet.

Data Analysis The data collected were analyzed with the help of Column and Bar charts.

Limitations

• Lack of openness in the responses by the respondent companies in revealing information.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • The lack of objective parameters for evaluation of the responses makes Statistical analysis of the data very difficult.

Data Analysis And Inferences

Q1. Do you spend more time at your work than what would you like to?

Inference: only fewer people stay longer after the office timings while the rest leave on time.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q2. Do you find yourself thinking about work instead of focusing on home/Pleasure activities?

Inference:

More than 50% of employees think about their work instead of focusing on pleasure activities at home or outside.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q3. Have you given up activities you enjoy because of your work? (Hobbies/work outs/meditation activities etc)?

Inference : Major proportion of employees have agreed that they have given up their leisure or recreational activities owing to work pressure. Around 30% of people strongly disagree that they have given up their activities.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q4. Do you generally feel you are able to balance your work and family life?

Inference : Around 75% of people agree that they are instrumental in maintaining a balance between their work and family life and thereby leading a happy and prosperous life.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q5. Are there any provisions of training for work life balance in the organization?

Inference : More than 60% employees are of the opinion that they don’t get adequate facilities and training to balance their work life in the organization.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q6. What kind of complaint your family member have because of your work schedule? Some responses:

• Time management • Not able to spend quality time with their family • No time for family • Less holidays • Sometime not even get weekly off due to pressure of work

Inference: -Most of the respondent’s family complain was related to time , that they get less time to spend with their family. - No holidays to go on vacations .

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q7. What do you expect from your manager at time when you are stressed out of imbalances?

Some responses:

• To give leave • Party • Recognize the work • A guidance\solution oriented approach • Counseling

Inference: After analyzing all the responses it can be inferred that when employees are stressed out of imbalances in their work-family life, they want their managers to be supportive, to understand their problem, give them counseling sessions, leave etc.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q8. At the time of financial adversities do you get financial aid/loans/advance salary from your organization?

Inference : 72% of the employees agreed that their organization provided them with financial aids to their employees as need arises. While 28% are disagree.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q9. Is your manager supportive in giving you leave as and when required?

Inference : 86% of the employees agreed that their manager grants them leave when required whereas 14% disagree from this statement.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q10. How many hours a day do you spend travelling to work?

Inference :

- 12.5% of employees devote less than half an hour to their work while travelling. - 27.5% employees devote nearly one hour. - 28 % employees devote nearly 2 hours. - 32% of employees devote more than two hours to their work while travelling.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q11. Does the vision and mission of your company make you feel your job is important?

Inference :

80% of the respondents said that vision and mission of the company make them feel that their job is important.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q12. Do you have a best friend at work?

Inference : 53% 0f the employees agreed that they have a best friend at work place.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q13. Are organizational policies and programmes clearly communicated in the organization?

Inference : Majority of respondents agreed that organizational plans and policies are properly communicated to them which help them to understand their role pertaining to a particular task assigned to them.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Q14. Do you get enough sleep, exercise and healthy food?

Inference : 53% respondents said that they get enough sleep, exercise and healthy food. Whereas 47 % respondents are not satisfied with regard to their sleep, exercise and healthy food.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Conclusion

• Most of the employees are unaware about the employee’s welfare measures adopted by the organization; hence they are not able to reap these benefits.

• Employees in the administrative department were satisfied with the work-life balance but employees at stores of KB’s fairprice were not satisfied, with the balance their complaints were no time for family, only one weekly off, etc.

• No training given by the organization on work-life balance, hence it becomes difficult for employees to properly manage their work-life.

• Technologies like Cell phone and laptops always hinder employee’s personal time and demand them to be in touch with their work even on holidays or when they are on leave.

• Front End Employees are not satisfied due to imbalances in their personal and professional life,

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Recommendations

• Providing more flexible and consultative roistering arrangements and working hours to all employees, including shift workers.

• Providing more part time jobs with less hours or fewer shifts, or job sharing arrangements to all employees.

• Reducing excessively long working hours and double shifts.

• Improving access to childcare with onsite childcare facilities and giving shift workers, who need access to childcare facilities, regular fixed shifts.

• Providing greater flexibility in leave arrangements to suit employees’ personal circumstances, including leave for school holidays through purchased leave arrangements and extended leave without pay to provide full time care to family members.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice • Allowing employees to request and take leave in single days and accrued hours as time off in lieu of payment.

• Providing increased mobility for employees to transfer between work areas and services to find more suitable working .

• Arrangements that will assist them to better balance their current work and family/personal responsibilities.

• Improving safety, wellbeing and respect for all employees in the workplace.

• Ensuring all employees are able to receive urgent telephone calls or messages from family members at work and have access to a telephone to remain contactable with their family during working hours.

• Introducing pools of permanent flexible part time or casual employees in order to cover leave and other absences.

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

Bibliography

• ORGANIZATIONAL BEHAVIOR

-Stephen P. Robbin

-Timothy A. Judge

• MANAGING ORGANIZATIONAL BEHAVIOR

-Gibson

• www.futuregroup.in

Measurement of Work-Life Balance in the Employees of KB’s Fairprice

• www.google.com

• en.wikipedia.org