Lauded as one of the most significant practices of industrial relations, a grievance-handling procedure is a medium for a worker to file his grievances. Indian organizations usually adhere to the Model Grievance Procedure that ensures speedy and full investigation of a grievance, leading to settlement. This study compares the grievance-handling procedure of a case study firm with the Model and measures its effectiveness by analyzing the satisfaction of the individual worker as a subjective measure. Comparison with qualitative analysis on the basis of dimensions such as time, stakeholders, decision given and structure show that the firm has made special efforts to reduce the levels in the procedure, thereby increasing the speed of grievance settlement, though a lack of provision of arbitration was also observed. Satisfaction has been assessed with constructs such as speed, decision, structure and stakeholders, by applying factor analysis and multiple regression analysis. Attitude of supervisors, time taken in giving decision and follow-up mechanism emerge as the most important predictors. This study is expected to add value to the existing literature on grievance handling by making a departure from previous studies on satisfaction measures of grievance procedures, in which the predominant issue has been perceived fairness. The findings may be useful for the improvement of workers’ satisfaction with grievance-handling procedures in any organization.