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CASE STUDY ON GOODEARTH FINANCIAL SERVICES LTD.

Ekta Sharma Vidhi Rai Mohit Gupta Shivali Amrita Kumari

INTRODUCTION
In this case we are analysing the requirements of jobs on various

operational levels in a firm named as Goodearth Financial


Services Ltd. When the company came into being, the work for each employee was described and they were supposed to do exactly that, which is not true in the present scenario where an employee has to play various roles in his organization. We will here describe about the main issues raised by the company founder Mr. Jashpal Bhatti, which are:

Recognize methods for data collection


Approach for job design Job analysis for various operational levels.

METHODS FOR DATA COLLECTION


There are various methods for data collection but here we would

focus on those relevant for this case:

Observation Method-

A job analyst observes an employee and records

all his performed and non-performed task,


fulfilled and un-fulfilled responsibilities and duties, methods, ways and skills used by him or her to perform various duties and

his or her mental or emotional ability to handle challenges and


risks.

This method however suffers from personal biasness

Questionnaire MethodGetting the questionnaires filled from employees, their superiors and managers.

However, this method also suffers from personal biasness.

Interview Method-

In this method, an employee is interviewed so that


he or she comes up with their own working styles, problems faced by them, use of particular skills and techniques while performing their job and insecurities and fears about their careers.

APPROACHES TO JOB DESIGN


Meaning of Job design- it should focus on desgning job so as to

fulfil technological and organizational requirements of the job as


well as personal and social requirements of the job holder. Approaches are as follows1. 2. 3.

Engineering Approach by FW Taylor


Human Relations Approach by Elton Mayo Job Characterics Approach by Oldham and Hackman.

Engineering ApproachAccording to this approach the work or task of each employee is planned by the management a day in advance. The instructions for the same are sent to each employee describing the tasks to be undertaken in detail. The details include things like what, how and when of the task along with the time deadlines. Human Relations ApproachThis approach was propounded by Elton Mayo. He conducted the Hawthorne Experiments in this regard. The first experiment was Illumination test Second was bank wiring test Third was Relay experiment

Job Characteristics ApproachThe job characteristics approach was popularized by Hackman and Oldham. According to this approach there is a direct relationship between job satisfaction and rewards. They said that employees will be their productive best and committed when they are rewarded appropriately for their work. They laid down five core dimensions that can be used to describe any job - skill variety, task identity, task significance, autonomy and feedback. Skill variety Task Identity Task Significance Autonomy Feedback

Here in this case we would recommend the Job Characteristics ApproachBecause of the following reasons As propounded by Oldham and Hackman the rewarding for every job is very necessary as that motivates employees to be at their productive best In this case it is quite necessary to satisfy the core five dimensions as suggested by them

Skill variety there is a lot of skill variety required for various jobs at various levels. For eg: A Portfolio Manager must have skills like Evaluation of Firms, Shares, Bonds etc. whereas a Risk Manager would require skills of analyzing risk and assessing it and risk calculation at various levels of investment.

Task IdentityThe employees must foresee the probable outcome as it is a financial service firm, it would deal with other firms which require complete and reliable information and to fulfill this requirement each level of employees must work carefully so as to reach a set goal. Task SignificanceSince the firm under discussion is a financial service firm so whatever operations it carries out definitely would affect the firms consulting it for help on financial matters of their respective companies AutonomyEvery individual requires freedom and independence for performing such a tedious job with a peaceful mind

Feedback Feedback is quite necessary for a job in a financial firm because the employees must keep track of what they are doing and what they are actually supposed to do, the way of performing a task and the time of delivery of service.

JOB DESIGN FOR DIFFERENT HIERARCHICAL


LEVELS
1.
o o

Business AnalystJob DescriptionTo design and document workflow and excellence of the business unit.

To design and track business trends and make appropriate recommendations that helps business to foster.

o o o o

Job SpecificationMinimum 2-3 years of experience in a financial firm Analytical and mathematical skills should be well polished. Graduate in any discipline with know-how about finance

2.

Portfolio ManagerJob DescriptionEvaluating the firms, shares, debentures and bonds of a firm. And have knowledge about the current business and stocks scenarios around the world.

Job SpecificationMinimum 4 years of experience in a finance firm Mathematical Skills

Graduate in Commerce/MIF/CA/CS

3.

Risk ManagerJob DescriptionSpecialization in sectors like risk calculation at various levels Risk assessment and evaluation of risk while investing in a firm or venture.

Job SpecificationMathematical, Analytical and Technical Skills Minimum 4 years of experience in this field Graduate in Commerce/MIF

AccountantJob DescriptionKnowledge of book keeping, P and L a/c, Balance sheet maintanence.

Job SpecificationGraduate in Accountancy/ICAI/CA/CS pursued Minimum 5 years of experience Knowledge of Tally and MS Office.