ISSN : 2663-2187

A Study about the opportunities and challenges in the coir industry to ensure employees' wellbeing through proper reward and recognition systems

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Sreekumar.S.N and Dr.B.Rajnarayanan
» doi: 10.48047/AFJBS.6.Si4.2024.4658-4669

Abstract

Indian traditional cottage industries with a focus on employment include the coir industry. Added than 80% of the world's coir fiber is produced in India, making it the greatest coir producer in the world. India's two main producers of coir and coir-derived goods are Kerala and Karnataka. The Kerala-based coir sector, which also provides jobs, is now expanding to other Indian states that also cultivate coconuts. The needs of the export market have been the main focus of product value addition. Non-traditional goods are essential to the coir industry's future. Lack of knowledge on the creation of value-added goods is the main issue the coir sector now faces. Therefore, raising awareness and offering training are urgently needed. Private manufacturers account for 90% of the world's exports of coir, with co-operatives and other government-run businesses making up the other 10%. The coir business boosts the nation's economy by giving people, especially in rural regions, work opportunities and revenue. It is a labour-intensive sector that employs more than 7,00,000 people (as of the end of March 2017, according to the Coir Board's annual report), who are overwhelmingly from rural areas and come from socioeconomically challenged groups. Only 8% of the coir and coir-related items produced in India are exported; the other 92% are used domestically. For the purpose of comprehensive employee development and successful health promotion, health and wellness are crucial for employees. It improves productivity, raises morale, increases job satisfaction, reduces turnover, and prevents time wasted due to illness, stress, or absence. Overall, it is advantageous for both companies and employees.

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