An Empirical Analysis of Human Resource Benchmarking in Selected MSMEs: With Special Reference to Heavy Engineering Industry in Western India
Abstract
Market conditions were very competitive till the recent past and any of the given organization was required to develop a niche to remain competitive and sustain in the market. Mere parameters of growth might have not provided enough sustainability; rather the given organization had to improve continuously on the parameters of responsiveness and productivity i.e. only setting of benchmarking was not enough for an organization. It would be prudent to keep a track of the processes to touch the stated benchmarks. This stands true in case of MSMEs as well, gone were the days when the employees of a given MSME used to work on their own terms i.e. they were more of a hard worker and less on professionals.
Times and markets changed very fast and there was a need to bring about a change and this change was only possible through proper set of benchmarking, at par with world standards. This present study evaluated the need of the same. The respective sample was taken from the MSMEs serving as vendors to Heavy Engineering, more specifically to shipbuilding companies in Western India. The total sample of the industry was around 200 employees of selected MSMEs. The researcher used Chi Square test to test the hypothesis SPSS Ver. 22.0 was considered as a platform for data analysis.