Tata Steel

Study on the existing Incentive & Bonus Scheme in Power System

and

Project on HRD Climate Survey

Presented To: Prof. K.R.Nath

Presented By:Abhinav ChoudharyFPB1113/057

Executive Summary

Topic of study-Study on the existing Incentive & Bonus Scheme in Power system

Objective- To validate whether the existing incentive & bonus scheme meets the business objective of the department

Place of study-Jamshedpur, Jharkhand

Duration of Project-15th May to 15th July, 2012

Tata Group

Overview of Tata Steel

Founded 1907Industry SteelHeadquarter Mumbai, Maharashtra, IndiaKey People Hemant H. Nerurkar(MD)Products Steel, Flat steel products, Long steel products & wireRevenue US$ 27.73 billion,2012Profit US$ 1.25 billion,2101

Power System

•It consists of Three Power housesPower House#3Power House#4Power Houses#5

•Power House#4 consist of Four boilers and three turbine

•Power house#5 consist of three boilers and one turbine

Flowchart of Power house#4

Incentive & Bonus

•PBR System

•Directly linked to Performance

Types of Incentive & Bonus Scheme

1. Departmental Wage Incentive Bonus scheme

2. Techno Economic Factor Improvement Scheme

3. Labor Utilization Scheme

DWIB Plan

•Based on Two Parameter-Total Steam Generation & Average Power generation

•Potential (66 bonus potential) Total Steam Generation -470000 tons/month Average Power generation-67000kwh/month

•Multiplying Factor Combination of: Boiler efficiencyAuxiliaries power consumptionWeighted steam rate

TEF

•Factor Average availability of boilers & turbine per month (%) No. of trip page of boilers and turbines per month (in numbers)

•20 Bonus Points

•Improvement Scheme

Labour Utilization

•Improvement Scheme

•Factor Total Tons of steam generated/AMD

•10 bonus points

Findings & Recommendation

THREE SUCH FACTORS ARE AS FOLLOWS:•DERATOR•ECONOMIZER•MULTIPLYING FACTOR

In my opinion the existing Incentive and bonus scheme for Power Houses 4 n 5 is justified with the current level of production, cost and safety of employees. I don’t find any need to standardised or modify the current incentive and bonus scheme.

THANK YOU

Executive Summary

•Topic of Study- Project on HRD Climate Survey

•Objective-To study the relationship between the top management and the employeesTo study the motivation level of the employeesTo study the competencies of the organization

Research Methodology

•Data source-Research include gathering of Primary Data

•Research Approach- Survey Method which include questionnaire

•Sampling Unit126 respondentsIt include 47 workers & 28 supervisors in PH#3 and 32 workers & 19 supervisors in PH#4

Parameters

•Number of Respondents are further divided into different sub classes

Department wise Power House#3 & Power house#4

Age wise Below 35 & above 36

Experience Wise Below 15yrs & above 16yrs

Category Wise Workers & Supervisors

Limitations

•Sample was collected randomly so it can’t give exact representation

•Biased view so it does not reflect true picture

•Language constraint

Conclusion

•Average employee motivation

•Satisfactory flow of communication

•Good team spirit

•Average involvement of management in development of employees

THANK YOU