Starting an Employee Satisfaction Survey Business in Pune: Seeking Your Expert Advice and Insights

I want to start a company that will conduct employee satisfaction surveys for other medium-scale companies in Pune. The motto is to find out and present how satisfied the employees are, how long they intend to stay with the company, and what factors influence their decision to stay or leave.

Feedback and Comments Needed

I would appreciate your comments and feedback on the following points:

1. If my content is strong, will companies allow me to conduct the survey? Will they outsource this service?
2. How much should we charge approximately for this service?
3. What do I need to be prepared with to start this company?
4. Are there any lesser-known companies already providing this service?

(I hold an MBA in HR and have 1 year of experience in Training and Development.) I have searched through various threads in this community but did not find specific information.

I am eagerly waiting for your expert comments and feedback on this.

Regards,
Arjun

Well, most employees are often not fully satisfied with their current employer, and there could be many reasons for the same. However, what you should consider adding is the different levels of satisfaction that employees may experience:

- Fully satisfied
- Having a higher level of satisfaction
- Having low satisfaction
- Totally not satisfied

Understanding Employee Satisfaction Levels

Understanding these levels of satisfaction is crucial because it can be challenging for employees to achieve full satisfaction due to the need to compromise or adjust to company policies. The decision for employees to stay in a company greatly depends on their satisfaction level. If their satisfaction level is low, they may leave whenever they receive a better offer.

Moreover, when the satisfaction level is extremely low and an employee does not feel comfortable continuing, they may choose to leave the company without waiting to secure another offer.

Exactly. That is why I want to start this business, which presents such points in front of the top management that will help them concentrate on those factors. Thanks for your suggestion. I will be more than happy to see your comments on the points I mentioned in my post.

Regards,
Arjun

Let me ask you a few questions so that experts can give you some precise help. Kindly answer the following questions:

Questionnaire Design and Validity

What knowledge do you have of designing questionnaires and testing their validity and reliability? If you are not designing your own questionnaire, have you searched the web and decided upon whose questionnaire to use, why, and how much it will cost?

Experience in Conducting Surveys

Do you think organizations will employ a person who does not have much experience in conducting surveys using open-ended questions or interviewing people to obtain the required information?

I can ask a lot more questions. However, these will do for the time being.

I agree with the comments of Mr. Simhan. He has emphasized the technical aspects of the work, and I wish to remind you about the business and revenue model aspects. Although I appreciate your enthusiasm, I must say that there are many companies, including some renowned brand names, in the business of employee surveys. Have you surveyed the industry and conducted any competitor analysis?

Why would a company spend money on such an important matter and outsource the work to a new entrant and a fresher? You must have strong, overwhelming reasons to secure an assignment. This is not to discourage you, but to prompt you to consider all possible angles and equip yourself with the essentials rather than simply proceeding with misplaced enthusiasm. I would suggest that you start by working with or in such a company.

Warm regards.

Look at employee engagement surveys rather than mere satisfaction. That is the talk of the town these days in the corporate world. Recent figures show that Indian employees are the least engaged, and such disengaged employees can negatively impact company business and profitability.

Let me know if you would like to discuss this further.