Comparison With Local Competitors

Published Date: 02 Nov 2017

Purpose of this research is to gauge insights effect of trainings, work stress, compensation and accountability on employee productivity at Standard Hosiery. Your views are highly valued and will be dealt with strict confidentiality.

1- Department ____________________________

2- Designation: ________________________ 3- Org. Tenure _______________________

1-My organization understands the training needs of my department.

Yes

No

2-I am satisfied from my supervisor's/management’s efforts to identify my strengths and weaknesses?

Yes

No

3-I am satisfied with the amount of training offered for my advancement

yes

no

4-My performance is improved after trainings?

Very True

Somewhat True

Not very true

Not at all True

5-Our organization conducts extensive training programs for its employees in all aspects of quality

Very True

Somewhat True

Not very true

Not at all True

6-Employees in each job will normally go through training programs every year.

Very True

Somewhat True

Not very true

Not at all True

7-Training needs are identified through a formal performance appraisal mechanism.

Very True

Somewhat True

Not very true

Not at all True

8-There are formal training programs to teach new employees the skills they need to perform their jobs.

Very True

Somewhat True

Not very true

Not at all True

9-Manager accurately appraises immediate subordinates’ effectiveness and ensures appropriate positive and negative recognition and consequences.

1) Strongly agree 2) Agree 3) Neutral 4) Disagree 5) Strongly disagree

10-I am held accountable for achieving results.

1) Yes 2) No

11-My performance appraisal is a fair reflection of my performance

1) Strongly agree 2) Agree 3) Neutral 4) Disagree 5) Strongly disagree

12-How consistently does your supervisor punish employees for bad work?  

1) Extremely consistently 2) Very consistently 3) Moderately consistently

4) Slightly consistently 5) Not at all consistently

13-There is a consistent and equitable system of rewards in Standard Hosiery.

Strongly Agree

Agree

Neutral

Disagree

Strongly Disagree

14-Please indicate your views in relation to the information provided.

Extremely Satisfied

Satisfied

Neutral

Dissatisfied

Extremely Dissatisfied

Salary

Benefits

Frequency & amount of bonuses

Connection between pay & performance

Leaves

15-Most stressful aspect of my work is:

1)   Narrow deadlines 2)   Unsupportive employer 3)   Uncooperative colleagues

4)   Unreasonable hours of work

16-Do you get the scope of explaining your worry to your employer?

1)   Yes, frequently 2)   Sometimes 3)   Never

17-Would you consider your stress factors to be particular to you or shared by your colleagues?

Particular to me 2) shared by my colleagues

18-Do you believe that these stress factors are adversely affecting your work?

1) Yes, to a large extent. 2) No Stress is an inevitable concomitant of work

19-Work stress may force you to rethink about quitting your present job?

1) Yes 2) No

20-How often do you feel stressed at work?

1) Extremely often 2) Very often 3) Moderately often 4) Not at all often

21-How would you rate the level of your work stress?

1) Mild 2) Moderate 3) Severe 4) Extreme

22-Does your organization helps to facilitate work-life balance?

1) Strongly disagree 2) somewhat disagree 3) Neutral 4) Somewhat agree

5) Strongly agree

23-Organization’s concern for my training and development needs will contribute to higher productivity

1) Strongly agree 2) Agree 3) Neutral 4) Disagree 5) Strongly disagree

24-If work stress is managed, it will contribute positively in my productivity and efficient working on the job.

1) Strongly agree 2) Agree 3) Neutral 4) Disagree 5) Strongly disagree

25-Adequate compensation and rewards being given to me will very likely increase my productivity.

1) Strongly agree 2) Agree 3) Neutral 4) Disagree 5) Strongly disagree

Comparison with local competitors

There are almost forty to fifty socks manufacturers in Pakistan but some of the most important in Pakistan are:

FM Textile -Lahore

CNW Pakistan (Pvt) Ltd. - Karachi,

Jazzee Knitwear (Pvt) Ltd. Faisalabad,

Soxknit (Pvt) Ltd. Karachi

New Light Hosiery (Pvt) Ltd. Faisalabad

Interloop (Pvt) Ltd. Faisalabad,

The strongest competitor of Standard Hosiery is Interloop situated in Faisalabad.

Standard Hosiery

Interloop

private limited

private limited

Year established :2002

Year Established : 1992

One division

3 divisions

Hosiery Division - I

Hosiery Division - II

Spinning Division

Covered area:

70,000 square meters

Covered area:

Total Covered Area Hosiery Division - I: 495,600 SQ FT

( 46,059 SQ MTR)

Total Covered Area Hosiery Division - II: 634,530 SQ FT

(58,972 SQ MTR)

Total Covered Area Spinning Division: 325,000 SQ FT

(30,200 SQ MTR)

Standard Hosiery complies with following quality and social standards

CTPAT

Wrap

ISO 9001-2000

Interloop complies with following quality and social Standards:

WRAP

ISO-9001 REV 2008

CTPAT

OKEOTEX-100

AVE (Aubenhandelsvereinigungdes deutschen einzelhandels)

SA-8000

ISO-14001

Fair Trade

ISO 17025

Knitting plant is made up of computerized machines from Sangiacomo Star, Sangiacomo 4100 and Uniplet

Knitting Plant is made up of 2300 Fully Computerized Machines from Lonati, Sangiacomo, Matec and Uniplet

Needle range: 84,108,132

Needle range: 72 needles to 168 needles.

Number of machines:155

Number of machines:2300

Workforce: 340 employees

Work force:9300 employees

Production Capacity:

108 needles-150,000 dozens monthly

132 needles- 50,000dozens monthly

Production Capacity

2.5 Million dozens-Dyeing per month

2.7 Million dozens -Packing per month

Minimum lead time:

10 working days from receiving sample.

Minimum Lead time :

45-60 days after approvals

Short lead time possible for repeats

Table Competitor comparison

Interloop has many good well reputed customers such as:

Nike

Slazenger

Puma

Levis

Life is good etc

However, it does not posses license of any of its customers. This means that it is not the exclusive manufacturer of the products of these brands. On the other hand, Standard Hosiery owns licenses of following brands:

Ryka

And 1

Bowlopolis

La Gear

Human resource development in Standard Hoseiry and Interloop

There are no formal training programs in Standard Hoseiry. Not much attention is paid toward the development of human resource. However, the Human Resources Department in Interloop is providing precisely the support to its employees

Interloop has a strong people development process, which enables:

To plan career paths for executives.

It helps to identify areas of improvement for further training by developing a gap analysis.

The assessments are done continuously so that our people are ready to face the ever increasing challenges of the Corporate World.

Interloop believes that the success of a company comes through its workers and it has recently launched an initiative, known as "Project CARE" for this purpose. This project is recognition of people's performance and dedication towards Interloop. Long Service Awards, supporting children education, integration of families through social activities and guaranteed jobs for long serving employees are some of the salient features of this program.

Comparison with foreign competitors

Countries like China and India are strong competitors of Pakistan Textile industry. However, our textile industry has a competitive edge on all other competitors due to the quality of our product.

Strengths

Export-oriented organization

ISO 9001-2000 certified

WRAP certified

CTPAT Assessed

Latest computerized and electronic Angie Machines, Siangocomo 4100 & Siangocomo Star Machines

Strong group

Successful history

Own power generation

Strong employee accountability system

Weaknesses

High cost of production reduces its competitiveness in international market.

Centralized decision making in Standard Hosiery

Extremely small global market share

Less promotional activities

Need to increase its power generation capacity

Lack of benefits and rewards for the employees

Lack of training for employees

Some Manual machines are still being used

Rely on foreign customers

Standard Hoseiry has completely ignored local market.

Opportunities

Organization can expand product lines

Organization can reduce the cost by reducing the wastage of raw material as raw material accounts for 60%of the total production cost

Organization can hire more well-educated and experienced person

Due to devaluation of Pakistani rupee, goods made in Pakistan are cheaper. This attracts more foreign customers.

Threats

Needs of customers are always changing

Political instability in Pakistan

Standard Hosiery faces a strong competition from Sri Lanka, Bangladesh and India

Interloop is a very strong competitor of Standard Hosiery.

Also many other new factories of socks have emerged. Day by day competitors of Standard Hosiery are increasing. If they are not competed efficiently, there is a chance that they can get the share from Standard Hosiery’s market share.

There is a high inflation rate in Pakistan as compared to India. This poses a serious threat as this hampers textile sector of Pakistan to compete with the Indian yarn at international level

Purchase of cotton in off-season is adversely affected due to fluctuating dollar prices.

Energy crises of Pakistan

Managers should continuously communicate with their employees in a friendly manner so that employees can speak about their grievances to them

There is autocratic style of leadership at Standard Hosiery. Mangers act according to the instructions of the chairman. All rules, decisions and important changes are made by chairman of Standard Hosiery without the interference of employees who are to be governed. Once the orders are given by chairman, the employees have no right to complain and are expected to comply with the orders irrespective. When the directions from the chairman are not available on time, there is doubt among the employees, as to how the work is to be completed. This could result in delays and loss in business. Therefore employees should be allowed to take part in decision making process.

Standard Hosiery should computerize all of its machines in order to remain competitive

Standard Hosiery should pay attention towards the local market as well

Human resource is the biggest asset of a company in this era. Standard Hosiery should focus on its human resource; its training and development if it wants to remain compete effectively with its competitors.

Decision making should be decentralized indoor to give sense of empowerment to employees. They should be at least given a chance to voice their opining in decision making process.

It should install more generators in order to increase its power generation capacity keeping in view energy crises in Pakistan.

Standard Hoseiry should conduct regular tainting programs for the development of the employees.

This training program should be conducted for all departments of the organization.

There should be special training programs for the people working in production department. Textile manufacturing is largely automated. Experienced machine operator should be hired for conducting the training. The training of new operator should start with simple tasks. Operator should make sure that new operator has fully understood the machine’s operations and only then move him to more intricate tasks.

department

360 feedback systems should be conducted in the organization in order to ensure effectiveness of the managers in the organization.

Managers should have personal discussion with employees not able to achieve targets or conduct their performance appraisal to identify training needs of the people.

Then managers should discuss with board of directors that certain training programs are required and will be supportive in achieving the targets

Managers should be able to organize effective training programs that contribute positively towards the performance of the employees.

There should be formal training programs for the new employees since new employees are unfamiliar with the working environment and objectives of the organization.

Create awareness of International Standard Organization’s quality assurance guidelines among employees through formal training programs.

The employees should be valued by employers on accomplishing their targets.

Employee counseling should be done in an effective manner by mangers. Counseling or coaching is daily interface between a manager and an employee who reports to him. Coaching aims to solve performance problems and improve the productivity of employees. This is a very good tactic to overcome employee stress. Counseling enables employees to recognize their strengths and weaknesses. Coaching helps employees to develop and build up on their strengths and eliminate their weaknesses.

lower the workload on employees

Deadlines should be extended when needed.

at least once a month a meeting should be arranged between employees and board of directors so that employees can get a chance to discuss their problems

There should be a friendly working environment where the employees feel free to discuss their problems with their managers.

Organization needs to increase its product range and variety.