MAIN PROJECT REPORT

A STUDY ON THE IMPACT OF HR POLICIES IN AT

THE SOUTHERN ASSOCIATE, CHENNAI

Submitted as a part of MBA II Year Course requirement

By

Name – PRIYANKGASREE.K
Reg. No.– RA2252001040094

Under the guidance of

DR.VIJAYAKANTHAN
SRM INSTITUTE OF SCIENCE AND TECHNOLOGY
VADAPALANI
FACULTY OF MANAGEMENT

May 2024
BONAFIDE CERTIFICATE

This is to certify that _________________________________________________ (Name of

the student with Regn. No. ) is a Bonafide Student of Faculty of Management, SRM Institute
of Science and Technology, Vadapalani, Chennai. She / he is in the II year of Masters Degree
Program in Business Administration (MBA). She / He has done this project under my
guidance and supervision towards part fulfillment of II year MBA course requirement.
Project Guide MBA Program Coordinator Date: Place: Signature of the Internal Examiner
Signature of the External Examine

Project Guide MBA Program Coordinator

Date:

Place:

Signature of the Internal Examiner Signature of the External Examiner

 DEPARTMENT SEAL

DECLARATION

I …………………………. (Name of the Student with Reg. No.) studying in II year MBA
program at Faculty of Management, SRM Institute of Science and Technology, Vadapalani,
Chennai, hereby declare that this project is an original work of mine and I have not verbatim
copied / duplicated any material from sources like internet or from print media, excepting
some vital company information / statistics and data that is provided by the company itself.

Signature of the Student

Date:

Place:
ORGANIZATIONAL CIRTIFICATE
 ACKNOWLEDGEMENT

It is my privilege in writing this acknowledgement to thank everyone who gave their views
and suggestions for helping in the completion of my internship at The Southern Associate
India Pvt Ltd. I would like to take up this opportunity to convey my gratitude to Prof. Dr.
Sasirekha, Dean (FET), SRM Institute of Science and Technology (SRMIST), Vadapalani for
providing an opportunity to do this project and internship. I express my heartfelt thanks to
Prof. C Praseeda, HOD, Faculty of Management, SRMIST, Vadapalani, for her
encouragement. This project would not have been successful without the constant guidance
and support of my guide, Dr. Vijaykanthan who took keen interest in my project to make it a
beneficial exercise. The internship I had withThe Southern Associate Pvt Ltd. was great
chance for learning and professional development. I would like to thank them for permitting
me to undergo training at their esteemed firm. I am grateful for having the chance to meet
many wonderful people and professionals who led me through the internship period. I would
like to use this opportunity to covey my heartiest thanks to Ms.Raashmi (Managing Director)
at The Southern Associate who encouraged me through the training. In spite of being
extraordinarily busy with their duties, they took their time out to hear, guide and keep me on
correct path during the training.

(PRIYANKGASREE K)

(RA2252001040094)
ABSTRACT
 TABLE OF CONTENTS

Chapter Description Page No.

No.
I INTRODUCTION
1.1 Introduction of the topic
1.2 Industry Profile
1.3 Company Profile
1.4 Statement of the Problem
1.5 Scope and significance of the study
1.6 Objectives of the study
1.7 Limitations of the study
1.8 Chapter Scheme
II LITERATURE REVIEW
III RESEARCH METHODOLOGY
3.1 Research Design
3.2 Sources of Data
3.3 Population/Sample Size
3.4 Sampling technique
3.5 Tools for data Collection
3.6 Hypothesis
3.7 Tools for Data Analysis
IV DATA ANALYSIS AND INTERPRETATION

V FINDINGS, SUGGESTIONS AND CONCLUSION

5.1 Findings
5.2 Suggestions & Recommendations
5.3 Conclusions
VI BIBLIOGRAPHY

VII ANNEXURES
QUESTIONNAIRE
1.INTRODUCTION

1.1 INTRODUCTION OF THE TOPIC:

In order to address the expanding need for high-quality precision machined products and
forged parts in the southern regions of India, Mr. N.P. Chandrathan, the company's founder,
founded Southern Associates in 1987 and oversaw it with over 60 years of rich technical
expertise. The company established its basis on uncompromising quality driven by dedication
and hard effort in order to find an entry point in this area of the region.
TSA specializes in producing ferrous and non-ferrous parts, including stems, ball pins, chain
links, track link pins, crank shafts, connecting rods, conveyor assemblies, gear blanks, axle
shafts, valve bodies, flanges, and nozzles, for the automotive, defense, and other industries.
Southern Associates is an ISO 9001:2015 QMS Manufacturing Company certified company.

The company's sister company, Arihanth Forgings, which is next to its machining facility,
provides all the support it needs to meet its needs for the production of forged components.
The manufacturing range of The Southern Associates, which produces more than 1500 tons
of material annually, spans from the smallest sizes of 0.5 kg to the greatest of 20 kg per piece
capacity.
ARIHANTH FORGINGS has a track record of providing a variety of global businesses with
its products. Important industries it serves include mining, railroads, automobiles, defense,
electrical, and general engineering.
TUV Sud has certified ARIHANTH FORGINGS as an IATF 16949: 2016 QMS
Manufacturing Company. It knows a lot about both domestic and international

Guidelines for doing different types of forging operations. Since ARIHANTH FORGINGS
meets the needs of its clients, it maintains a 100% client retention rate year after year. It
comes as no surprise that 90% of its revenue comes from recurring clients.
1.2 INDUSTRY PROFILE:

Southern Associates is a company in the manufacturing industry. This sector of the industry
includes "The Southern Associates operates within the technology sector, specifically
focusing on the MANUFACTURING sector. With the latest vertical machining centers,
turning centers, and conventional machines, along with a skilled workforce, TSA meets the
machining requirements of its customers with control over quality, cost, and time." Rapid
innovation, shifting consumer needs, and intense competition define this dynamic and fast-
paced industry. Southern Associates uses their knowledge in steel forging and dies to offer all
of its clients and customers state-of-the-art one-stop shopping. The technology sector has
enormous growth potential due to the growing digitization of businesses and society. This
presents opportunity for The Southern Associates to grow its market share and spur
innovation."
1.3 COMPANY PROFILE:

HOW THEY WORK:

THE SOUTHERN ASSOCIATE thrives With a goal to supply good quality products that
exceed customers’ expectations, we have a stringent Quality Management System in place.
This enables us to supply over 150 parts to both the Indian and the export market after
fulfillment of various international standards.

WHAT THEY HAVE:

Investment in Infrastructure is a long term requirement for growth and a long term factor

that will make growth sustainable.

VENDOR FACILITY:
We have a thriving network of vendors who help us help you. Our vendors are carefully
selected to meet our quality standards. We offer the following services through our vendor
network.
1.4 STATEMENT OF THE PROBLEM

"The human resources (HR) policies in our manufacturing organization, which provide the
foundation for managing our workforce, are out of date and do not sufficiently address the
changing needs of both our workers and the industry at large. The performance and long-term
viability of our company are directly impacted by a number of issues brought about by these
antiquated regulations.

First off, a mismatch in employee engagement and satisfaction results from our HR rules not
being in line with the demands of our workforce. Outdated policies can cause employees to
feel alienated or devalued, which can lower morale and increase the risk of employee
turnover. This inconsistent participation threatens our capacity to keep a dedicated and driven
team, which is necessary for accomplishing our requirements for quality and production
goals.

Furthermore, because our antiquated HR practices might not be in line with the most recent
labor laws, rules, or industry norms, they provide compliance issues. If we disregard the law
or industry best practices, this exposes our company to fines, legal ramifications, or
reputational harm. Maintaining adherence to pertinent legislation is crucial not only to
prevent legal consequences but also to cultivate an equitable and just culture inside our
establishment.

The cutthroat manufacturing sector, our inability to recruit and retain top people is hampered
by outdated HR regulations. Prospective workers, especially those from younger generations,
look for companies with progressive HR policies that put employee well-being, career
growth, and work-life balance first. Without revised guidelines that address these standards,
we might find it difficult to draw in new talent or keep hold of our current workforce, which
would limit our capacity to stay creative and competitive in the market.

In addition, our organization's inability to adapt quickly enough to shifting market conditions
or technology breakthroughs is hampered by antiquated HR rules. It is critical to establish HR
policies that enable workforce adaptability, skill development, and cross-functional
collaboration in an industry that is known for its rapid innovation.

1.5 SCOPE OF THIS STUDY

Analysis of Current HR Practices: The research would entail a thorough investigation of

the manufacturing company's current HR practices. A review of the policies pertaining to
hiring, pay, benefits, performance management, training and development, employee
relations, and compliance with labor laws and regulations would be part of this analysis.

Assessment of Employee Engagement and Satisfaction: The purpose of the study is to

determine the degree of employee engagement and satisfaction with the HR policies that are
in place. Surveys, interviews, focus groups, and other techniques may be used in this
evaluation to get input from staff members about HR policies and how they affect their
working lives.

Compliance Review: An examination of HR policies to identify non-compliant areas and

suggest changes to bring policies into compliance with applicable laws and industry best
practices.

Analysis of personnel Attraction and Retention: This research would look at how well the
manufacturing company's existing HR practices draw in and keep top personnel. Examining
hiring procedures, onboarding procedures, benefits packages for staff members, chances for
professional growth, and other elements that affect employee retention are all part of this
examination.

Best Practices and Benchmarking Research: To compare the company's HR policies to

industry standards and best practices, research will be done. By using benchmarks, the
organization would be able to determine where its policies might be falling short of industry
norms or where they could be improved.

Organizational Agility Evaluation: An evaluation of the company's adaptability and

organizational agility in the face of shifting market conditions would take place. This
evaluation would look at how HR practices promote skill development, workforce flexibility,
cross-functional cooperation, and the capacity to take advantage of opportunities as they arise
or deal with obstacles.

SIGNIFICANCE OF THIS STUDY:

Improved Employee Engagement and Satisfaction: The study attempts to increase

employee engagement and satisfaction by locating and filling key policy gaps in HR.
Employee engagement results in increased job satisfaction and lower turnover rates since
engaged workers are more dedicated, productive, and loyal to the company. This in turn may
have a favorable effect on the general profitability and performance of the organization.

Mitigation of Compliance Risks: To protect oneself from legal ramifications, penalties, or

reputational harm, one must make sure that labor laws, regulations, and industry standards are
followed. The research assists in reducing compliance risks by carrying out a compliance
evaluation and revising HR rules as necessary, protecting the business's good name and
financial stability.

Attracting and Holding on to Top Talent: Maintaining organizational development and

competitiveness in the current competitive labor market depends on attracting and holding on
to top talent.

Alignment with Industry Best Practices: The organization can maintain its relevance and
competitiveness by comparing its HR policies to industry best practices. The study helps the
firm to align its HR practices with industry norms, assuring its sustainability and continuous
performance. It does this by identifying areas where the policies of the company may be
falling behind or where changes can be made.

Organizational agility and adaptability are critical for efficiently responding to market
dynamics, emerging opportunities, and difficulties in a corporate environment that is
changing quickly. The study evaluates the ways in which HR policies promote skill
development, workforce flexibility, and cross-functional cooperation in order to support
organizational agility. The business can put itself in a better position for long-term success
and growth by increasing organizational agility.
1.6 OBEJECTIVE OF THIS STUDY:

1. Evaluate the Current HR Policies, Assess the effectiveness, comprehensiveness, and

alignment of the existing HR policies at The Southern Associates.

2. Identify Areas for Improvement gaps, inconsistencies, or deficiencies in the current HR

policies that may be hindering employee engagement, compliance, talent management, and
organizational effectiveness.

3. Assess Employee Satisfaction and Perception, Gauge employee satisfaction levels and
perceptions regarding the existing HR policies through surveys, interviews, or focus groups.

4. Ensure Compliance that HR policies adhere to relevant laws, regulations, and industry
standards to mitigate legal risks and ensure ethical and fair treatment of employees.

5. Enhance Employee Engagement and Retention strategies to enhance employee

engagement, morale, and retention through the implementation of effective HR policies and
practices.

6. Develop policies and procedures to attract, develop, and retain top talent within the
organization, including recruitment, onboarding, training, and performance management
processes.

7. Promote diversity, equity, and inclusion within the workplace through the development
and implementation of inclusive HR policies and practices.

8. Develop HR policies that support organizational agility, flexibility, and responsiveness to

changing market conditions, technological advancements, and workforce demographics.

9. Develop policies and initiatives to support employee health, well-being, and work-life
balance, including benefits, wellness programs, and flexible work arrangements.
10.Ensure that HR policies are aligned with the overall strategic objectives and values of The
Southern Associates, contributing to the achievement of organizational goals and fostering a
positive organizational culture.

11.Conduct benchmarking and best practices research to compare The Southern Associates'
HR policies with industry standards and identify areas for improvement or innovation.

12.Based on the evaluation of current HR policies and best practices research, develop
actionable recommendations to address identified gaps and enhance the effectiveness of HR
policies at The Southern Associates.

1.7 LIMITATION OF THIS STUDY:

Limited Generalizability: The study's conclusions and suggestions might only apply to the
manufacturing company that was the subject of the analysis; they might not apply to other
businesses or sectors with distinct settings, workforce dynamics, or cultures.

Subjectivity in Data Collection: The study might make use of subjective techniques to
gather data, including focus groups, interviews, or surveys, which could lead to bias or
inaccurate results. The validity and reliability of the study's findings may be impacted by
respondents' partial or biased responses.

Resource Limitations: Time, money, and manpower are only a few of the resources that
may be restricted for this investigation. This may have an impact on the breadth and depth of
the study, reducing the comprehensiveness of the suggestions and the analysis.

Dependency on Available Information: The accessibility and availability of pertinent data

and information may place restrictions on the study's conclusions and recommendations. A
thorough study and well-informed recommendations may be more difficult for the
researchers to produce if some data sources are missing, out-of-date, or insufficient.

Opposition to Change: Managers, staff members, and other stakeholders in the company
may be against the suggested modifications to HR policies being implemented. Opposition to
change has the potential to reduce the recommendations' efficacy and prevent them from
being successfully implemented.

External Factors: Over time, the validity and applicability of the study findings may be
impacted by external factors such as changes in regulations, industry trends, economic
situations, or technology breakthroughs. The study might not have taken into consideration
every outside issue that could affect HR practices and organizational

Impact of corporate Culture: It's possible that the study did not completely account for how
corporate culture affects HR practices and policies. Employee behavior and attitudes toward
HR rules can be influenced by organizational culture, which encompasses values,
conventions, and beliefs. This can have an impact on the efficacy and acceptance of HR
policies.

Absence of Long-Term Evaluation: It's possible that the study did not include a long-term
assessment of the efficacy of suggested modifications to HR policy. Assessing the
sustainability and effects of the made changes on employee engagement, compliance, talent
retention, and organizational performance may prove difficult in the absence of continuous
monitoring and evaluation.

1.8 CHAPTER SCHEME

Market positioning: By examining rivals, businesses can assess how they stack up against
other players in the field. With this knowledge, companies may target certain market
segments, successfully differentiate their goods and services, and develop a distinctive brand
identity to draw in customers.

Assessment of Opportunities and Threats: Competitive analysis helps businesses spot new
opportunities in the market as well as possible dangers. By keeping an eye on the actions and
patterns of their competitors, businesses can seize opportunities early on and reduce risks to
their market position.
Product Development: Product innovation and development may be aided by knowledge of
client preferences and rivals' product offerings. Businesses can identify market gaps and
provide innovative solutions to meet evolving client needs by benchmarking against
competitors.

Marketing and branding strategies: Information about rivals' messaging, approaches, and
brand positioning can be found through competitor analysis. With the use of this data,
businesses can effectively communicate their unique value proposition to customers,
differentiate their brand, and optimize their marketing approach.

Risk management: By evaluating the advantages and disadvantages of competitors,

businesses may forecast competitive threats and create backup plans in case things go wrong.
Businesses are able to actively defend their market position and reduce business risks when
they are aware of their competitors' shortcomings.

Planning Strategically: Competitive analysis gives businesses the vital knowledge they need
to create and adjust their strategic plans. Businesses can identify market opportunities and
challenges and create plans to gain a competitive advantage by knowing the advantages and
disadvantages of their competitors.
QUESTIONAIRE:

1.