Summer Training Report

ON
A STUDY OF EMPLOYEE SATISFACTION
AT
BHARTI AXA LIFE INSUANCE LTD.

Submitted in partial fulfillment of the requirements for award of

Master of Business Administration
Of
HIMT

Session : 2015-17

Submitted by
Mehak Maggu
Roll.No. 38
MBA 3rd Sem.

Guided by
Mrs. Ashu

MAHARISHI DAYANAND UNIVERSITY, ROHTAK

 CERTIFICATE OF INTERNAL GUIDE

This is to Certify that the project titled A STUDY OF EMPLOYEE SATISFACTION is a

bonafide work carried out by Mehak Maggu candidate for the award of Master of Business
Administration of H.I.M.T, Rohtak under my guidance and direction

Signature of guide
Date:
Place:

Signature of External Examiner__________________

Date: Name:
Place: Designation:
Institute:
 ACKNOWLEDGEMENT

I take this opportunity to express my acknowledgement and deep sense of gratitude for
rendering valuable assistance and guidance to me by following personality for successful
completion of my project.

I am deeply indebted to my industrial head Mr. Mohit Yadav and my industry guide Mr.
Ishwer Singh, Sales Manager, Bharti Axa Life Insurance Ltd.

I am also equally thankful to MRS. ASHU, HIMT, Rohtak Who helped me a lot on the
project with his views & suggestions and guided me throughout the research work from time to
time.

Further I cant forget the cooperation and support of my friends and correspondence for
sparing their valuable time in providing me with latest information and I am very thankful to
all.
 TABLE OF CONTENTS

Chapter1: Introduction and Industry Background

Introduction to the Problem
Conceptualization Of The Framework
Objective of the study.
Scope of the study
Significance of the Study
Plan of the Study

Chapter2: Profile of the Company

Review of Literature
Chapter3: Research Methodology
Data collection methods / sources
Sampling plan

Chapter4: Data Analysis and Interpretations

Chapter5: Findings
Chapter6: Limitations
Conclusions and Recommendations

Appendix
Bibliography
Questionnaire
CHAPTER -1
 INTRODUCTION OF THE TOPIC

The human resource of an organization constitutes its entire workforce. Human

resource management(HRM) is responsible for selecting and inducting competent people,
training them, facilitating and motivating them to perform at high levels of efficiency,
and providing mechanisms to ensure that they maintain their affiliation with the
organization.
The objective of this project is to find out how much the employees are satisfied with the
Bharti Axa Life Insurance applies the human resource functions in the organization and out the
organization. In this project I took the survey on the employees of various departments of Bharti
Axa Life Insurance.
Satisfaction is an important goal for organizations to reach as it has been shown that
profitability, productivity, employee retention, and customer satisfaction are linked to
employee satisfaction.
Human resources are on major factors of production. It is human asset, which convert the
various resources in to the production resources. It has immense potentialities and it only
human resources, which appreciate with time whereas all other resources undergo the process of
depreciation. Success of an organization mainly depends on the quality of manpower and its
performance.
In early days human resource was not taken as an important factor of production. Human
begin was simple treated as log in the movement increasing emphasis has been given to the
worker as a whole man. The need of vast manpower and their importance was realized by
some of the progressive entrepreneurs. The emergence of Trade Union and their gradual
collective power forced some entrepreneurs to give some district feature of human side by
production. The first among the entrepreneurs who had contributed in the development of
human side of production was Robert Owen, and English Humanist. He took a genuine
interest in the welfare of the workers. But this magnetite was not supported by a major chunk
of entrepreneurs.
A number of social scientist advocated their valuable theories towards the beginning of the
20th century. Abraham Maslow gave his Hierarchy of needs theory. Mc Clelands
Afflation- Achievement theory is well accepted too. Christ Argyrols theory of four system
of Management is also a milestone in the development of human factor in the production
process.
At Bharti Axa Life Insurance it is believe that each employee contributes directly to the
growth and success of the organization. Bharti Axa Life Insurance relies solely on their
employees in establishing a Competitive advantage growth and robust successful
organization and it hope to direct and engage employees and their degree of satisfaction is
very much imperative for the same.
Hence the management must give more emphasis on the human side and their proper
utilization. This then remains the cardinal objective of the human relations function to
discover newer ways of understanding man and to motive him to higher standard of
workmanship. Many new experiments such as study of his state university of Michigan etc
have developed the branch of Management beyond margin.
Today an organization having a good inventory of human resources and a dynamic personnel
department is prospective one. So the technique and functions of personnel management have
now come closely integrated with the overall organization strategies and search of excellence.
 INDUSTRY PROFILE

History of insurance sector in India

In India, insurance has a deep-rooted history. It finds mention in the writings of Manu
(Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthasastra). The writings talk in
terms of pooling of resources that could be re-distributed in times of calamities such as fire,
floods, epidemics and famine. This was probably a pre-cursor to modern day insurance.
Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade
loans and carriers contracts. Insurance in India has evolved over time heavily drawing from other
countries, England in particular.
1818 saw the advent of life insurance business in India with the establishment of
the Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In
1829, the Madras Equitable had begun transacting life insurance business in the Madras
Presidency. 1870 saw the enactment of the British Insurance Act and in the last three decades of
the nineteenth century, the BoM.B.A.y Mutual (1871), Oriental (1874) and Empire of India
(1897) were started in the BoM.B.A.y Residency. This era, however, was dominated by foreign
insurance offices which did good business in India, namely Albert Life Assurance, Royal
Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard
competition from the foreign companies.
The Insurance Amendment Act of 1950 abolished Principal Agencies. However, there were a
large number of insurance companies and the level of competition was high. There were also
allegations of unfair trade practices. The Government of India, therefore, decided to
nationalize insurance business.
An Ordinance was issued on 19th January, 1956 nationalising the Life Insurance sector and
Life Insurance Corporation came into existence in the same year. The LIC absorbed 154
Indian, 16 non-Indian insurers as also 75 provident societies245 Indian and foreign
insurers in all. The LIC had monopoly till the late 90s when the Insurance sector was
reopened to the private sector.

The history of general insurance dates back to the Industrial Revolution in the west and
the consequent growth of sea-faring trade and commerce in the 17 th century. It came to India as a
legacy of British occupation. General Insurance in India has its roots in the establishment of
Triton Insurance Company Ltd., in the year 1850 in Calcutta by the British. In 1907, the
Indian Mercantile Insurance Ltd was set up. This was the first company to transact all classes of
general insurance business.
1957 saw the formation of the General Insurance Council, a wing of the Insurance
Association of India. The General Insurance Council framed a code of conduct for ensuring fair
conduct and sound business practices.
In 1968, the Insurance Act was amended to regulate investments and set minimum solvency
margins. The Tariff Advisory Committee was also set up then.
In 1972 with the passing of the General Insurance Business (Nationalization) Act, general
insurance business was nationalized with effect from 1st January, 1973. 107 insurers were
amalgamated and grouped into four companies, namely National Insurance Company Ltd., the
New India Assurance Company Ltd., the Oriental Insurance Company Ltd and the United India
Insurance Company Ltd. The General Insurance Corporation of India was incorporated as a
company in 1971 and it commence business on January 1sst 1973.
This millennium has seen insurance come a full circle in a journey extending to nearly 200
years. The process of re-opening of the sector had begun in the early 1990s and the last
decade and more has seen it been opened up substantially. In 1993, the Government set up a
committee under the chairmanship of RN Malhotra. The objective was to complement the
reforms initiated in the financial sector. The committee submitted its report in 1994 where in,
among other things, it recommended that the private sector be permitted to enter the
insurance industry. They stated that foreign companies be allowed to enter by floating Indian
companies, preferably a joint venture with Indian partners.
Following the recommendations of the Malhotra Committee report, in 1999, the Insurance
Regulatory and Development Authority (IRDA) was constituted as an autonomous body to
regulate and develop the insurance industry. The IRDA was incorporated as a statutory body
in April, 2000. The key objectives of the IRDA include promotion of competition so as to
enhance customer satisfaction through increased consumer choice and lower premiums, while
ensuring the financial security of the insurance market.
The IRDA opened up the market in August 2000 with the invitation for application for
registrations. Foreign companies were allowed ownership of up to 26%. The Authority has the
power to frame regulations under Section 114A of the Insurance Act, 1938 and has from 2000
onwards framed various
regulations ranging from registration of companies for carrying on insurance business to
protection of policyholders interests.
In December, 2000, the subsidiaries of the General Insurance Corporation of India were
restructured as independent companies and at the same time GIC was converted into a
national re-insurer. Parliament passed a bill de-linking the four subsidiaries from GIC in July,
2002.
Today there are 23 general insurance companies including the ECGC and Agriculture
Insurance Corporation of India and 23 life insurance companies operating in the country.
The insurance sector is a colossal one and is growing at a speedy rate of 15-20%.
Together
with banking services, insurance services add about 7% to the countrys GDP. A well-
developed and evolved insurance sector is a boon for economic development as it provides
long- term funds for infrastructure development at the same time strengthening the risk taking
ability of the country.
The business of life insurance in India in its existing form started in India in the year 1818
with the establishment of the Oriental Life Insurance Company in Calcutta.

Some of the important milestones in the life insurance business in India are:
1912 - The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.
1928 - The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938 - Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.
1956 - 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs.5 crore from the Government of India.
 Market share of the company
Bharti AXA have 1% market share in the insurance industry. And ICICI got 21.6% market
share in the private insurance sector.
 CONCEPTUALIZATION OF THE FRAMEWORK

JOB SATISFACTION
The term Job satisfaction refers to an individual's general attitude towards his or her job. A
person with a high level of job satisfaction holds positive attitude towards the job, while a
person who is dissatisfied with his or her job holds negative attitude about the job.

In simple words job satisfaction is:-

Job Satisfaction describes how content an individual is with his or her job. There are a variety
of factors that can influence a person's level of Job satisfaction; some of these factors are:-
Include the level of pay and benefits,
The perceived fairness of the promotion system within a company,
The level of pay and benefits,
Leadership and social relationships,
The job itself.

Why to study about employee satisfaction?

In my point of view, study of "Employee satisfaction" helps the company to maintain
standards & increase productivity by motivating the employees. This study tells us how much the
employees are capable & their interest at wok place? What are the things still to be satisfy to the
employees. Although "human resource" is the most important resources for any
organization, so to study on employees satisfaction helps to know the working conditions & what
are the things that affect them not to work properly. Always majority of done by the
machines/equipments but without any manual moments nothing can be done. So to study on
employee satisfaction is necessary.

THE STATE OF EMPLOYEE SATISFACTION

Although committed and loyal employees are the most influential factor to becoming an
employer of choice, it's no surprise that companies and organizations face significant
challenges in developing energized and engaged workforces. However, there is plenty of
research to show that increased employee commitment and trust in leadership can positively
impact the company's bottom line. In fact, the true potential of an organization can only be
realized when the productivity level of all individuals and teams are fully aligned, committed
and energized to successfully accomplish the goals of the organization.
As a result, the goal of every company should be to improve the desire of employees to stay in
the relationship they have with the company. When companies understand and manage
employ loyalty - rather than retention specifically - they can reap benefits on both sides of the
balance sheet i.e., revenues and costs.
On the revenue side of the balance sheet, loyal and committed employees are more likely to go
"above and beyond" to meet customer needs and are highly motivated to work to the best of
their ability. Both of these traits are crucial for continued customer commitment and
ongoing revenue and growth for the company.

On the cost side, loyal employees stay longer, resist competitive job offers, and do not
Actively look for other employment and recommend the company to others as a good
Place to work. These four behaviors positively influence the cost side of the balance sheet
because they are leading indicators of employee retention. The longer companies keep their
employees, the longer they can avoid having to pay to replace them.

In other words, rather than focusing only on retention (that is, trying to retain employees who
have already decided to leave), organizations should proactively recognize the benefits of
understanding, managing and improving employee loyalty. The most successful
organizations are those that can adapt their organizational behavior to the realities of the
current work environment where success is dependent upon innovation, creativity and
flexibility. Additionally, the dynamics of the work environment have to reflect a very diverse
population comprised of individuals whose motivations, beliefs and value structures differ
vastly from the past and from each another. Arguably, the most valuable, but also volatile,
corporate asset is a stable workforce of competent, dedicated employees, since such an
employee base gives companies a powerful advantage; depth of knowledge and
organizational strength.
One of the key steps to understanding and improving employee loyalty is by acknowledging the
importance of the following factors in building loyalty and Satisfaction:
Broadly-defined responsibilities rather than narrowly-defined job functions
Effective and regular performance evaluations, both formally and informally
A corporate emphasis on employee learning, development and growth
 Wide-ranging employee participation in the organization as a whole
Typically, a combination of factors influences employees' decisions to stay at their current job.
Contributing factors include satisfying work, a sense of job security, clear Opportunities for
advancement, a compelling corporate mission combined with the ability to contribute to the
organization's success, and a feeling that their skills are being effectively used and
challenged. Specifically, employees who enjoy their work, identify themselves with their
employer and perceive that the company is flexible regarding work and family issues also
intend to stay with the organization.

Another approach to the issue of loyalty is to consider the value of

the five "I's":
Interesting work. No one wants to do the same boring job over and over, day after day.
Although any job will require some repetitive tasks, all jobs should include at least some
Parts that are of high interest to employees.
Information. Information is power and employees want to have the information they need to
know to do their jobs better and more effectively. And, more than ever, employees want to
know how they are doing in their jobs and how the company is performing overall. It is
vitally important to open the channels of communication in an organization to allow
employees to be informed, ask questions, and share information and to inspire them to share the
vision of the company.
Involvement. Managers today are faced with an incredible number of opportunities and
problems and, as the speed of business continues to increase, the amount of time that they have
to make decisions continues to decrease. Involving employees in decision-making, especially
when the decisions affect them directly, is both respectful and practical. Not only do those closest
to the problem typically have the best insight as to what to do, involving them in decision-
making will increase their commitment and improve the success of implementing new
ideas or change. Similarly, management needs to follow through on promises and live the
values they preach.
Independence. Few employees want their every action to be closely monitored. Most
employees appreciate having the flexibility to do their jobs as they see fit. Giving employees
latitude increases the chance that they will perform as desired, as well as bringing additional
initiative, ideas, and energy to their jobs. Employees also need to be encouraged to achieve their
best potential.
THEORIES OF EMPLOYEE SATISFACTION ARE:
1) NEED FULFILLMENT THEORY: According to this theory a person is satisfied when
he gets training from his Job what he wants. The more he wants something or the more
important it is to him, the more satisfied he is when he received it. In other words, Job
Satisfaction will vary directly with the extend to which those needs of an individual which
can be satisfied are actually satisfied. Vroom views satisfaction in terms of the positively
valued outcomes that a job provides to a person. Thus, job satisfaction is positively related to
the degree to which ones needs are fulfilled. The fulfillment theory suffers from a major
drawback. Satisfaction is a function of not only what a person receives but what he feels he
should receive.

2) EQUITY THEORY: Under this theory, it is believed that a persons job satisfaction
depends upon his perceived equity as determined by his input- output balance in comparison with
the input output balance of others. Every individual compares his rewards with those of a
reference group. If he feels his rewards are equitable in comparison with others doing
similar work, he feels satisfied. Job Satisfaction is thus a function of the degree to which job
characteristics meet the desires of the reference group. For example, one study of the effects of
community features on job satisfaction revealed that workers living in a well to a
neighborhood felt less satisfied than those living in poor neighborhood.

3) TWO FACTOR THEORY: Frederick Herzberg and his colleagues developed the two
factor theory satisfaction. According to this theory satisfaction and dissatisfaction are
interdependent of each other and exist on a separate continuum. One set of factors known as
hygiene factors (Company policy, administration, supervision, pay, working conditions and
interpersonal relations) act as dissatisfies. Their absence cause dissatisfaction but their
present does not result in positive satisfaction. The other set of factors known as satisfiers
(achievements, advancement, recognition, work itself and responsibility) lead to satisfaction.
Several studies designed to test the two factor theory provide little support to this theory. The
same factor may serve as a satisfier for one but a dissatisfied for another. It appears from this
theory that a person can be satisfied and dissatisfied at the same time.

4) DISCREPANCY THEORY: According to this theory job satisfaction depends upon what
a person actually receives from his job and what he expects to receive. When the reward
actually received are less than the expected rewards it causes dissatisfaction. In the words of
Locke, Job Satisfaction and dissatisfaction are function of perceived relationship between
what one wants from ones job and what one perceive it is actually offering. In other words,
satisfaction is the difference between what one actually received and what he feels he should
receive. This theory fails to reveal whether over- satisfaction is or is not a dimension of
dissatisfaction and if so , how does it dissatisfaction arising out of the situation when received
outcomes are less than the outcomes one feels he should receive.

5) EQUITY DISCREPANCY THEORY: This is a combination of equity and discrepancy

theories. Lawler has adopted the difference approach of discrepancy theory rather than the ratio
approach of equity theory. From equity theory the concept of comparison has been selected
to serve as an intervening variable. Under this theory satisfaction is defined as the difference
between his outcomes that one perceives he actually received and outcomes that one feels he
should receives in comparison with others. When the individual feels that what he actually
received is equal what he perceives he should receive there is satisfaction. Thus an individuals
reception of his reward is influenced by more than just the objective amount of that factor.
Because of this psychological influence the same amount of reward often can be seen quite
differently by two people, to one it can be a large amount, while to another person it can be a
small amount.

6) SOCIAL REFERENCE GROUP THEORY: Reference group defines the way an

individual looks at the world. According to this theory job satisfaction occurs when the job
meet the interest, desires and requirements of a persons reference group. In other words, job
satisfaction is a function of the degree to which the job meets the approval of the group to
which the individual looks for guidance in evaluating the world and defining social reality.
The social reference group theory is similar to the need fulfillment theory except than it takes
into account not the desires, needs and interests of the given individual but rather the point of
view and the opinion of the groups to whom the individual looks for guidance.
 OBJECTIVES OF THE STUDY

This study program has got the following objectives:

To gain a conceptual understanding of the Employee Satisfaction
To analyze the work related stress at Bharti Axa Life Insurance.
To study the attitude of employees toward their work and job security at Bharti Axa
Life Insurance.
To find motivational factors of employees at Bharti Axa Life Insurance.
To find out how much employees are participation in decision-making at Bharti Axa
Life Insurance.
To find out how much employees are satisfied with their salary level.
 SCOPE OF THE STUDY

As Bharti Axa Life Insurance Ltd is one of the growing organization in the Insurance sector so
it needs highly satisfied and enthusiastic employees to compete with its competitors like:Bajaj,
Reliance, Tata, Birla sun life, etc.
Employee satisfaction which include all the motivational and hygiene factors is very essential at
Bharti Axa Life Insurance Ltd .The process requires improvement with the growth of the
company. Thus my project would involve understanding the various areas which needs
improvement and giving suggestions which could be incorporated by the HR department in
consent with the top management to improvise the current process.
 SIGNIFICANCE OF THE STUDY

Gathering information and theoretical knowledge is a part of study. It become complete when
added with practical knowledge as the noted truth comes to sight. Hence one becomes more
efficient and effective when a flavor of practical out look is added to the bosky mind.
To the Organization: As the study has got wide relevance is formulating valid information
about the organization, it helps in getting a critical look in to the personnel practices of the
organization. Organizational behavior employer employee relationship and the working
environment of the organization in relation to theoretical knowledge. It gives a previous idea about
the job and working environment to the future decision- making how to perform by assigned
job successfully and tactfully.
To the Students: This study will help the students to know the various theories which are
directly related to employee satisfaction mainly emphasis on Hertzberg theory.
To the Researcher: This study will help the researcher to know what all facilities an
employee requires in an insurance sector which will in turn help in further research and
further improvement in this sector.
 PLAN OF THE STUDY

The structure of present study is as follows:

Chapter 1 of this study covers the introduction of the study, significance of the study,
objectives of the study, focus of the problem, conceptualization and plan of the study.
The chapter also includes research methodology containing the nature of research,
sample size and analysis pattern used to conduct the research.
Chapter 2 explores the significant literature published on the present study reflecting
understanding of the relevant theoretical and empirical background of the problem.
Chapter 3 contains industry as well as company profile.
Chapter 4 of this study contains analysis and findings
Chapter 5 of this study contains recommendations, conclusion providing the end
result of the study. The last part gives the limitation of the study thus providing
significant scope for further research.
CHAPTER -2
 COMPANY PROFILE

Subject Details
Company Name Bharti Axa Life Insurance

Headquarter Bharti AXA Life Insurance Co. Ltd.

Unit 601 & 602, 6th Floor
Raheja Titanium, Off Western Express
Highway
Goregaon (East), MuM.B.A.i - 400063
Key People

Company Size 22000 Employees

Company Logo

Website www.bharti-axalife.com
Bharti AXA Life is a life insurance player that was started in 2006. It brings together strong
financial expertise of the Paris-headquartered AXA Group, and Bharti Enterprises - one of
India's leading business groups with interests in telecom, agricultural business, financial
services, and retail. The joint venture has a 74% stake from Bharti and 26% stake from AXA
Asia Pacific Holdings Ltd.(APH).The company launched national operations in December
2006. Today, Bharti AXA Life has a national footprint of distributors trained to provide
quality financial advice and insurance solutions to the large Indian customer base.
Bharti AXA Life offers a range of innovative products and services that cater to specific
insurance and wealth management needs of customers.

These are the three attitudes that clients most expect from an insurance and financial services
company in exchange for their vote of confidence. These three attitudes stood out from the
others in the consumer research we conducted across markets, regardless of their level of
maturity.
They are at the heart of our actions and our commitments to clients.

PLANS OF B.A.L.I. & L.I.C.

BHARTI AXA LIFE INSURANCE PLANS
Individual Plans
Bharti AXA Bright Stars
o Comprehensive financial protection to your loved ones - Sum Assured +
Waiver of future Premiums
o Jumpstart Benefit - Up to 7% of average fund value during the policy term
Bharti AXA Spot Suraksha
o Simplified sign up process - no lengthy documentation or medical check-ups
o Invest in the equity markets with the benefit of protection of your capital
o The guarantee can also potentially grow every year to increase your protection

Bharti AXA Dream Life Pension

o Systematically increases investments through Accumulator Option o
Regular and single pay options
 o A plan that lets you change your retirement age anytime as required.
o A plan that gives you the flexibility to modify your premium as per your
changing needs.
Bharti AXA Aspire Life
o Get higher of up to 250% of annual premium or 7% of Average Fund Value as
Guaranteed Special Addition
o Option to choose the year in which the Guaranteed Special Addition will be paid
o You want a product that enables you to plan for important milestones in your
life
o You want a product where your familys security is not put at risk in case of
discontinuance of premium
Bharti AXA Invest Confident
Bharti AXA Wealth Confident
o Investment-oriented plan that helps create wealth for you over 10 years through
higher allocation to investment fund and special additions
o Flexibilities available to take care of your changing investment needs while providing

life insurance cover

o If you want a medium term investment-oriented plan that would help you
create wealth for a range of financial goals
o If you do not want to have a regular premium commitment - this plan has a
limited payment term of 5 years
Bharti AXA Future Confident
o Premium payment for just 3 years
o No surrender charges throughout the policy term

o If you are looking for a pension plan that requires a short tem investment
o If you are looking for a pension plan that gives allows you to withdraw money
without any extra charge
Bharti AXA Future Confident II
o Flexible pension plan with benefits till age 90, while you pay for 10 years only
o Special additions are added to your fund, in order to boost your fund
o You want a single investment option, which not only takes care of your
sudden requirement but gives you an opportunity to save systematically for
your retirement
 o You are looking for pension-cum-investment solution, which gives you
flexibility and control
Bharti AXA Save Confident
o Premium payment for 12 years, while you can enjoy benefits for 15 years o
Regular money back with guaranteed annual payments
o You want a convenient product that enables you to plan for important
milestones in your life
o You want a product with additional accidental death cover at no extra charge
Bharti AXA Secure Confident
o A simple Life Insurance product
o Option to enhance protection with the addition of Riders
o You want comprehensive protection for your loved ones
o You want a single product that can take care of all your Life Insurance needs

Group Plans
Bharti AXA Mortgage Credit Shield
o Presenting Mortgage Credit Shield from Bharti AXA Life, a group product
designed for the customers of Institutions/Banks - protecting the family of the
borrower in the event of death by paying an amount to settle the outstanding
loan.
Bharti AXA Life Shield
o Life Shield, a single premium group term life insurance product, is a simple,
affordable life insurance solution that financially secures the family of the group
member by providing a life insurance cover.
Bharti AXA Swasthya Sanjeevani
o Swasthya Sanjeevani, a single premium group critical illness product helps you
secure yourself financially against 6 critical illnesses namely cancer, heart attack,
coronary artery bypass surgery, kidney failure, stroke and loss of limbs.

Bharti AXA Sanjeevani

o Sanjeevani, a single premium group term life insurance product provides
financial security and protection to your loved ones. It is a simple, affordable
plan to safeguard your family from life's uncertainties.
 Bharti Credit Secure Plans
o Bharti AXA Life Credit Secure is a single premium group reducing term life
insurance product, that makes sure your family is not burdened with your loan
liability in your absence. Now you can ensure that your family is protected
from the uncertainties of life even as they enjoy a good lifestyle. In case of an
eventuality, Bharti AXA Life will pay an amount that can used to settle the
outstanding loan amount.
Bharti Credit Shield Plans
o Presenting you with Credit Shield from Bharti AXA Life, a group product -
which protects the family of the borrower in the event of death by paying an
amount to settle the outstanding loan.

Main Plans of Bharti Axa Life Insurance

(1) Bharti Axa Life Secure Confident - It is a unit linked, non
participating insurance plan. In this plan, the investment risk is borne by the policyholder but
not if this policy is detained till maturity.
Policy parameters
Entry age 18-55
Maximum Age at Maturity 60
Minimum premium Rs. 1,500 for yearly, Rs. 780 for half-yearly, Rs. 405
for quarterly*
and Rs.135 for monthly* Premium
Minimum sum assured Rs 5, 00,000/
Maximum Sum Assured Rs. 24,99,999
Policy term 10 years
Premium paying term 3 years
Policy benefit Period 5, 10, 15, 20 and 25 years
Tax Benefits Tax benefit under section 80C and 10(10D) of
Income
Tax Act.
Key Benefits:
The life insurance benefit is provided by the sum assured in the product. The minimum Sum
assured for this plan is Rs 5, 00,000.
In case of the unfortunate event of death of the life insured, the Policyholder or the nominee, as
the case may be, will be entitled to receive the Sum Assured and the policy will cease to exist.
Along with the life insurance benefit, Bharti AXA Life Secure Confident offers you a range of
rider options to choose from by paying a nominal additional amount to help you secure
comprehensive financial protection against any unfortunate eventuality.
You can choose the following rider options:
Bharti AXA Life Critical Illness Benefit Rider
Bharti AXA Life Accidental Death and Disability Benefit Rider

In case you have opted for any of the riders, you will have to pay an additional nominal
premium to avail of the benefits under these Riders. Ask your advisor to show you the
separate rider brochure and explain the details and applicable terms and conditions. The
premium paid under this policy would enjoy tax benefits under Section 80C of the Income
Tax Act 1961.
The Policy proceeds in the event of claim shall be tax free in accordance with section 10(10
D) of the income tax act 1961.
If the premiums are discontinued during the Policy Benefit Period, the policy shall lapse. In
such a situation, you can revive the policy by paying the due premiums with the due interest
within 2 years of the date of discontinuance of the premium.

(2) Bharti Axa Life Bright Star Plus

-
Policy parameters
Life Insured (parent): 18 years - 60 years
Entry Ages
Nominee (child) : 30 days - 13 years

Term 18 years less the age of child at entry

Premium paying Regular policy premiums can be paid yearly, half-yearly,

frequency quarterly or monthly (for ECS only)

Addition of riders Accidental Death & Dismemberment Benefit (ADD)

The annual policy premium is based on:
 The guaranteed maturity benefit and option you choose.
The enhanced sum assured you desire.
The plan term and your gender and age at entry.

Guaranteed Fund Equals all premiums paid, less charges and guaranteed maturity
Value benefit(s), accumulated at 3% per annum

Partial
Allowed after 3 complete policy years
Withdrawals

Investment Funds Protector, Builder, Enhancer

AT The sum assured is paid to the nominee upon the death of the life insured
Death (parent)
Benefit The new life insured is the child and new owner is appointed as per your
wishes.
The policy is continued as usual except:
All riders and risk charges will cease
Only the policy administration charge and fund management charge
continue, and
B.A.L.I. will start paying the Maturity Continuation Benefit on a monthly
basis until the policy matures.
In case of death of the new life insured (child) prior to the end of the Term, higher
of 105% of the Fund Value or the Guaranteed Fund Value will be paid and the
policy will be terminated.

Charges of policy
Premium allocation charges
Fund management charges
Mortality charges
Surrender charges etc.

(3) Bharti AXA Life Save Confident - The saral jeevan plan provides the dual benefit of
protection and investment. So it is the ideal policy if you want to secure your life and build
wealth at the same time.
Policy parameters
Entry age 12-55
Policy term 10, 15, and 20 years
Age at maturity 70
Minimum Premium Rs. 6000 per annum
Minimum Sum Assured As per minimum premium
Policy benefit period 15 years
Premium payment term 12 years

What are the key benefits of the product?

Maturity benefit: The maturity benefit in Bharti AXA Life SaveConfident would be as
follows; 50% of the Sum Assured (which is the same as explained under the feature of
survival benefit) + all vested reversionary bonus declared till maturity (if any) + terminal
bonus (if any).

Tax Benefits
You can avail the tax benefits on the premiums paid and the benefits received as per the
prevailing tax laws under Section 80C and Section 10(10D) of the Income Tax Act, 1961.
The tax benefits are subject to change as per change in Tax laws from time to time.
An illustration of the product benefits
This is a sample illustration that enumerates the benefit of SaveConfident
Annual regular premium paid:, Policy Benefit Period: 15 years, Age: 30 years; Premium
payment
term: 12 years

(4) Bharti Axa Life Easy Health:

The universal health plan is in addition to the benefit amount payable under each health
benefit. This unique benefit helps you and your family with out of pocket health related
expenses.
Policy parameters
Entry Ages for Primary
18 years - 52 years
Applicant

Maximum Age for

55 years
Primary Applicant

Age at entry for

family Spouse\Parents: 18 - 52 years (age as on last birthday)
Child: 1-22 Years (age as on last birthday)
members

Maximum cover
Spouse\Parents: 55 years, Child: 25 Years
ceasing age for

family members 3 years

Coverage Term policy premiums can be paid yearly, half-yearly, quarterly or

Premium paying monthly

frequency According to age of the insured person. (e.g. for 25 - Rs. 4756
p.a., for 45- Rs. 6725 p.a., for 55- Rs. 9724 p.a.).
Premium

What are your advantages with Easy Health?

Extremely affordable protection for a longer term: Premiums as low as Rs 3* per day! Easy
Health covers you with a single premium at one go for 3 years, at extremely affordable
premium.
*For age less than 40 years, for Option 1 level of Coverage.
Many options to meet your needs- A range of Daily Hospital Cash Benefit (DHCB) options,
so you can choose the Coverage level in line with your individual needs and what you wish to
pay. DHCB levels available are Rs. 500, Rs. 750, Rs. 1,000, and Rs. 1,500 per day
Attractive family discount for your spouse, children and parents- Along with your proposal
for insurance, you can also cover your legal spouse, your natural parents and up to 3 children
(by birth or legal adoption) and get an attractive discount of 10% on premium for each family
member added. Also, at the time of renewal of the Policy, a discount of 10% of premium will
be given for each family member added by Life Insured at the inception of Policy
Pays a fixed lump sum which you can use to meet expenses not covered by other health
insurance products- The benefit under this plan is paid to you irrespective of any other Health
Insurance product that you may already have. This benefit can be used for meeting other
expenses or loss of wages that you may incur. The benefit can be claimed within up to 30
 days in a Policy year. However, any unutilized DHCB cannot be carried forward to the next
Policy year.
Simple and easy to enroll- You can easily enroll for this Coverage by answering few simple
health questions and declaring your age. No need for any medical tests or medical reports, or
filling up lengthy proposal forms
Tax benefits- The premium paid under this product enjoys tax benefits under section 80 D of
the Income Tax Act 1961. The tax benefits are subject to amendments from time to time

(5) Bharti Retirement plan (Future Advantage Plus):

Policy parameters

18 years - 80 years
Entry Ages

Age of Vesting 45-90

Term (Minimum 10 years), (Maximum Vesting Age minus Age at entry)

Annual Premium (per annum) Minimum - 100000, Maximum No limit

Premium Payment term 3 years

Key Features:
1. Pay premium for 3 years only and enjoy the benefits till your retirement
2. Get liquidity through partial withdrawals after the completion of 3 policy years
3. Enhance your retirement wealth by paying top-up premiums at any point of time
4. 12 free switches every policy year and 6 investment fund options
5. No surrender charge applicable throughout the term of the policy
6. Flexibility to change your retirement age any time during the Policy term
7. Special additions added to the fund every 5 years
Maturity Benefits:
You can take up to 1/3rd of your policy fund value as a tax-free lump sum amount (as
per prevailing tax laws), while the balance amount must be used to purchase an
annuity, which will provide regular income to you at your desired mode of frequency;
or
You have the option to purchase an annuity product with the entire policy fund value
Tax benefits:
You receive tax benefits under Section 80 CC(C).
Also one third of the maturity \ vesting benefit can be commuted tax-free under Section 10
(10A)

6. Bharti Axa Aspire Life Plus Plan:

Basic Plan Minimum Maximum

Age at Entry 0 years 55 years
Age at Maturity 25 years 80 years
Sum assured 180000 No Limit
Policy Term 25 Years
Premium payment modes Annual, Semi Annual, And Monthly
Quarter
Top up premium 1000 25% of total
annual premiums
paid till date
Premium:
Yearly 18000 No Limit
Half Yearly 9000 No Limit
Quarterly 4500 No Limit
Monthly 1500 No Limit

Get higher of up to 250% of annual premium or 7% of Average Fund Value as Guaranteed

Special Addition
Option to choose the year in which the Guaranteed Special Addition will be paid
Key features:
Guaranteed additions to your fund in the 20th or 25th year as per the GSA option
chosen by you
Flexibility of partial withdrawal
Cover continuance, in case of discontinuance of premium
Redirect your future premium into different investment
Where can I invest my money?
You have the options of investing across 6 funds depending on your risk appetite and return
expectation and make use of the switch facility to change your asset allocation.

What are the tax benefits?

Tax benefits can be availed for the premium paid and benefits received, as per the prevailing tax laws
Invest Fund
Investment Fund
Objective Assets Allocation Risk
Return
Potential
Growth
To provide long term capital List Equities: High
Opportunities appreciation through investing in 80-100%
Plus Fund stocks across all market capitalization Cash and Money Market
ranges (Large, Mid or small) Securities - 0-40%
Grow Money
To provide long term capital List Equities: High
Plus Fund appreciation through investing across 80-100%
a diversified high quality equity Cash and Money Market
portfolio Securities - 0-40%
Build India Fund
To provide long term capital List Equities: High
appreciation through exposure to 80-100%
equity investments in infrastructure and Corporate Bonds and Banks
allied sectors and by diversifying Deposits- 0-20%
investments across various sub sectors Cash and Money Market
of the infrastructure sector. Securities - 0-40%
Save In grow
To provide stead accumulation of List Equities:0-60% Moderate
money income in medium to long term by Corporate Bonds and Banks

fund investing in high quality debt papers Deposits- 0-50%

and govt securities. Govt Bonds and
securities -0-40%
Cash and Money Market
Securities - 0-40%
To provide stead accumulation of Corporate Bonds and Banks Low
Steady Money income in medium to long term by Deposits- 20-80%
Fund investing in high quality debt papers Govt Bonds and
and govt securities. securities - 20-80%
Cash and Money Market
Securities - 0-40%
Safe Money Fund To provide capital protection through Corporate Bonds and Banks Low
investments in low risk money market Deposits- 0-60%
and short term debt instrument with Govt Bonds and
maturity of one year or lesser. securities - 0-60%
Cash and Money Market
Securities - 0-40%
 REVIEW OF EXISTING LITERATURE

Job satisfaction
There are a plethora of definitions of job satisfaction, some of which are contradictory in
nature. Spector (1997) refers to job satisfaction in terms of how people feel about their jobs
and different aspects of their jobs. Ellickson and Logsdon (2002) support this view
by defining job satisfaction as the extent to which employees like their work.

According to Rue and Byers (1994), job satisfaction is made up of five

(5) components:
Attitude towards colleagues
General working conditions
Financial benefits
Attitudes towards supervision
Job satisfaction occurs when a job meets the expectations, values and standards of an
individual and will influence their commitment and performance (Gordon 1999). The greater
the degree of the expectations being met the higher will the level of job satisfaction be.
According to Bateman and Snell (1999), staff will be satisfied if they are justifiably treated
by the outcomes they receive or the processes that are implemented.
At the same time, Baron and Greenberg (2003) concur that job satisfaction is an attitude
towards ones job and the cognitive, affective and evaluative reactions towards their job.

Factors affecting job satisfaction are:

Working Conditions
According to Frame (2004) work conditions are defined as an employees work place,work
instruments, the work itself, organization policy, and organizational rules. Arnold and
Feldman (1996), promoted factors such as temperature, lighting, ventilation, hygiene, noise,
working hours, and resources as part of working conditions.

Pay
Noon (2001) define remuneration as payment for work, which can assume a number of
different forms, including a basic wage or salary, supplementary cash payments, such as shift pay
and overtime
Pay, and benefits in kind. According to Schenk (2001), remuneration is defined as the
financial and non financial extrinsic rewards provided by an employer for the time, skills and
effort made available by the employee for fulfilling job requirements aimed at achieving
organizational objectives. Concepts
Such as pay, wage or salary are occasionally used as more or less having the same meaning as
remuneration (Erasmus et al., 2001).

Fairness
According to James Brown (2007), he defines fairness as equal treatment, receiving the same
services and benefits as other people. Fairness means different things to different people, and
our view of whether or not something is fair often depends on the circumstances (Klesh, J.
1979).
Promotions
Noon (2001) define promotion as the act of moving an employee up the organization
hierarchy, usually leading to an increase in responsibility and status and a better remuneration
package. Grobler et al. (2002) define promotion as the reassigning of an employee to a
higher-level job. Graham (1986) defines promotion as a move of an employee to a job
within the company which has greater importance and, usually higher pay.

Gender
A study conducted by Murray and Atkinson (1981), investigating gender differences in
determinants of job satisfaction, Several studies conducted with regard to the relationship
between gender and job
reflected that females attach more importance to social factors, while males place greater
value on pay, advancement and other extrinsic aspects. In support, Tang and Talpade (1999)
maintain that there is a significant difference between males and females in terms of job
dimensions impacting on job satisfaction. Their study found that men tend to have higher
satisfaction with remuneration in relation to females, while females tended to have higher
satisfaction with co-workers than males.

Age
Mixed evidence exists regarding the relationship between age and job satisfaction (Robbins
et al. 2003). According to Greenberg and Baron (1995), older employees are
generally
happier with their jobs than younger employees, while people who are more experienced in
their jobs are more highly satisfied than those who are less experienced. This view is
supported by Drafke and Kossen (2002). The researchers state that job satisfaction typically
increases with age as older workers have more work experience and generally have a more
realistic view of work and life in comparison to their younger
Counterparts. They are of the opinion that younger workers have less experience to draw on and
have an idealistic view of what work should be like.

Theories of job satisfaction

Hertzbergs Two Factor Theory
According to Mullins (2002), Hertzbergs two factor theory is effectively a theory of job
satisfaction. Furthermore, Baron and Greenberg (2003) state that Hertzbergs Two
Factor
Theory, also known as the Motivator -Hygiene theory, focuses on factors that are responsible
for job satisfaction and job dissatisfaction. There are some factors that would encourage job
satisfaction if they were present, but feelings of dissatisfaction when they are absent.

According to Herzbergs Two-Factor theory, job satisfaction. and dissatisfaction actually

originates from divergent sources (Baron and Greenberg,2003). These factors or
characteristics were referred to as hygiene factors or maintenance factors. They do not
actually contribute to work satisfaction and therefore have a negligible motivational value (Van
der Westhuizen 1991).

The Job Characteristic Model

According to Robbins (2001), Richard Hackman and Greg Oldham developed the
Job
Characteristics Model (JCM). Their research was based on work redesign, which is defined
as altering jobs to increase both the quality of employees work experience and their
productivity. As stated by Gordon (1999), goals are set jointly with management and
workers, and workers are liable for attaining these goals. Furthermore, this would add
enhancement and fortification to their jobs. According to Robbins (2001), the JCM can be
depicted in terms of five core dimensions, which will be distinguished as follows:

Skills Variety
This is the degree to which the job involves a range of activities and talent.
Task Variety
This is the degree to which a worker completes a particular job from the beginning to the end.
Task Significance
This relates to the extent to which the job has an impact on people concerned.

Autonomy
This is the degree to which the job provides freedom, independence and discretion to the
worker in the planning and execution of tasks.

Feedback
This is the extent to which clear and direct information is provided to the worker in an
evaluation of his or her performance (Gordon, 1999)

Lockes Value theory

According to this theory (Baron and Greenberg 2003), the impact of the various factors
of job satisfaction can be determined. In this aspect, if we know the value placed on each factor,
the greater the shift in satisfaction changes that will be produced.

This theory also advocates that if too much value is placed on a particular factor, stronger
feelings of dissatisfaction will occur. Lockes theory is therefore multifaceted and greatly
specific for each individual.

This can be illustrated in the following example: Two employees that perform the same task
at the same place of work may experience the same level of satisfaction but in totally
different ways. The one employee may be strongly influenced by the physical aspects of the
job whilst the other employee may be influenced by the challenge and variation inherent in
the job (Locke, 1976). In contrast, Baron and Greenberg (2003) argue that although
Lockes
Theory has not been extensively researched, a great amount of emphasis placed on values
alludes that job satisfaction may rise from factors. Further, whilst some staff may feel
strongly positive about their jobs, others may feel very negative. Therefore it is essential to
determine the factors that contribute towards the varying degrees of job satisfaction or job
dissatisfaction.
Figure shows the theoretical framework of this study:
CHAPTER -3
 RESEARCH METHODOLOGY

Research
The present study is both descriptive as well as exploratory in nature where descriptive
research as it provides deep understanding of the satisfaction of the employees and in turn
providing suggestions to the company to improvise the satisfaction level of the employees and
exploratory research as it involves clarifying the concepts related to employee
satisfaction and various theories related to it and involving literature search about the
employee satisfaction.

Exploratory Research
The present study is exploratory as well as analytical in nature.

Sample technique
Questionnaire technique was used to collect the data.

Sample Size
40 employees of Bharti Axa Life Insurance

Respondent
Employee of the Organisation

Method Used For Data Collection

Questionnaire is used for data collection.
The questionnaire consisted various aspects like open ended, close ended, multiple choice
etc.
Primary Data Source:
Structured questionnaires.
Secondary Data Source:
Books
Internet
Journals
Universe: Bharti Axa Life Insurance, Gurgaon

Statistical Tools used:

For the representation of analysis of data and graphs are used.
CHAPTER -4
 ANALYSIS AND INTERPRETATION

1) Respondent by Gender

Male 29
Female 11
Hence, 72 % are males and 28% are females.

Interpretation: Majority of the respondents were males i.e. 72%. This helps to know that
mostly males are working in Bharti AXA Life Insurance.
 2) Departments of Respondent

Departments of employees
1. Marketing 22
2. Human resource 8
3. Finance 10

Interpretation: Here we can see that maximum number of employees is from marketing
department.
 3) Work Experience of Respondent

S.no Experience in years No. of Respondents

1. less then 1 year 15
2. more then 1 year 10
3. less then 2 year 8
4. more then 2 year 7

Interpretation: Here we can see that employees are not experienced.15 employees are
having the experience of less than 1 year and 8 of less then 2 year.
4) Satisfaction level with the job

S. NO. Satisfaction Level No. of Respondent

1 Like very much 25
2 Like some what 10
3 Neutral 4
4 Dislike some what 1
5 Dislike very much Nil

Interpretation: The data in the above table reveals that majority of respondents (25) were
highly satisfied with their job and 10 of respondents are satisfied with their job.
this show that employees are satisfied with their job
 5) Satisfy with the behavior of management and other employees

S no. Satisfaction Level No. of Respondent

1 Highly satisfied 22
2 Satisfied 10
3 Moderate 5
4 Unsatisfied highly 2
5 Unsatisfied 1

Interpretation: The data in the above table reveals that majority of respondents (22) were
highly satisfied with the behavior of other employees and 10 of respondents are satisfied and 5
are moderate
6) Career and growth opportunities

S no Preferences %age of Respondent

1 Yes 90%
2 No 10%

Interpretation: Here we can see maximum number of respondent think that there career
and growth opportunities offered by the job is 90% .This shows that in Bharti Axa Life
Insurance career and growth opportunities offered by the job.
7) Participation in Decision making

S.no Participation No. of Respondents

1 20%-30% 12
2 30%-40% 10
3 40%-50% 8
4 50%-60% 4
5 Above 60% 6

Interpretation: Here we can see less number of respondents participates in the Decision
making that is only 6 respondents (above 60%) decisions and 12 are participating in 20%-
30%.
8) Satisfaction Level of Employees with level of salary:

S.NO. Satisfaction LevelNo. of Respondents

1. Highly Satisfied 9
2. Satisfied 15
3. Moderate 5
4. Unsatisfied 10
5. Highly Unsatisfied 1

Interpretation: The data in the above table tells us that majority of respondents (15) are
satisfied with the level of salary which they are getting and only (9) of respondents are highly
satisfied with this statement and (10) respondent are not satisfied with the salary which they
are getting.
9) Management is flexible and understands the importance of
balancing my work and personal life.

S. NO. Satisfaction Level No. of Respondents

1 Strongly agree 18
2 Agree 10
3 Undecided 8
4 Disagree 2
5 Strongly disagree 2

Interpretation: The data in the above table tells us that majority of respondents (18) are
satisfied with the management flexible and understands the importance of balancing my work
and personal life.
10) Agree with the company bonus plans

S.No Satisfaction LevelNo. of Respondents

1 Strongly agree 8
2 Agree 12
3 Undecided 11
4 Disagree 6
5 Strongly disagree 3

Interpretation: The data in the above table tells us that majority of respondents (12) are
agree with the bonus plan which they are getting and (8) of respondents are strongly agree with
this statement and (11) respondent are undecided and (6) are disagree.
11) Is any change is require to improve the working condition

S.No Preferences No. of Respondents

1 Yes 32
2 No 8

Interpretation: Here we can see maximum number of respondent are think that change is
require to improve the working condition of the company opportunities is that is 80% .
CHAPTER -5
 FINDINGS

In the study some remarkable explorations were found as follows:

Majority of respondents were highly satisfied with the job.
Majority of respondents (22) were highly satisfied with the behavior of other
employees and 10 of respondents are satisfied and 5 were moderately satisfied.
Maximum number of respondent think that there career and growth opportunities
offered by the job is 90% .This shows that in Bharti Axa Life Insurance career and
growth opportunities offered by the job.
Less number of participants participates in the decision making i.e. only 6 respondents
participate in above 60%.
Majority of the respondents were satisfied with the level of salary they are getting.
Out of 40 respondents, 18 were satisfied with the work life balance provided by
Bharti Axa Life Insurance.
Majority of respondents agree with the bonus plan they are getting.
Responses show that there is a need to improve the working conditions provided by
the company.
CHAPTER -6
 LIMITATIONS OF THE STUDY

Some of the limitations found during the project tenure were:

Some of the respondents were not serious in filling the questionnaire.
Time was a major constraint during the project as more good result can be brought
with the availability of time.
Not much understanding of some of the theories related to satisfaction level.
Lack of experience.
 CONCLUSION

An extensive review of the topic "Study of the level of job satisfaction among job work
assignees" it was found that the most important factors conducive to job satisfaction are the
motivational factors: -
Rewards or Payment,
Supportive working environment and
The work itself.
Working hours.
Clean and hygienic working place.
However, in the same study feelings of dissatisfaction were found to be stemming from the
work itself. The same and the work that was repetitive in nature and not apt according to the
qualification of some of the employees were seen also some of the major factors leading to
dissatisfaction were:-
"Low payment Job tenure (3 months) leading to job insecurity among the Job Work
Assignees mind the various factors leading to the job satisfaction and by enhancing the
profile of job. Employees tend to prefer jobs that give them opportunities to use their skills
and abilities and offers freedom and feedback. They want pay system and promotion policies
that they perceive as being just and ambiguous and in line with their expectations. When pay
is seen as fair that is based on job and individual skills, satisfaction is likely to result.
Employees are also concerned with their work environment for both personal as well as
professional life.
So finally it is concluded that the level of job satisfaction is there but need to be increased
and maintained.
 SUGGESTIONS AND RECOMMENDATIONS

Looking at the results above following can be the suggested measures:

To increase satisfaction and retention of employees which will help in reducing the
factors leading to high level of absenteeism and employee turnover?
Select the right person for the right job.
Promotion policy should be improved.
Management should check the performance of their employees time to time.
Overall work environment should also be improved which will ultimately lead to job
satisfaction.
 BIBLIOGRAPHY

Brown, R. E. (1997). African American school psychologists: Job satisfaction and

Graduate school recruitment and retention. Dissertation Abstracts International,
61, 038. (UMI No. 9965238)
Ellickson. M.C., & Logsdon, K. (2002). Determinants of job satisfaction of municipal
government employees [Electronic version]. Public Personnel Management,31(3),343-
358
Greenberg, J., & Baron, R. A. (1993). Behavior in organizations (4th ed.).
Needham
Heights, MA: Allyn and Bacon.
Greenberg, J., & Baron, R. A. (1995). Behavior in organizations (5th ed.).
Needham
Heights, MA: Allyn and Bacon.
Locke, E. A. (1996). The nature and causes of job satisfaction. In M. D. Dunnette(Ed.),
Handbook of industrial and organizational psychology (pp.1297-
1349).Chicago: Rand
McNally.

Murray, M.A., & Atkinson, T. (2001). Gender differences in correlates of job satisfaction
[Electronic version]. Canadian Journal of Behavioral Sciences, 13, 44-52.

Robinson, D. T., & Schwartz, J. P. (2004). Relationship between gender role conflict and
attitudes toward women and African Americans. Psychology of Men &Masculinity, 5,
65-
71

Spector, P. E. (2000). Industrial & organizational psychology (2nd ed.). New

York:John
Wiley & Sons.
Stanley, T. L. (2001). The joy of working: A new look at job satisfaction. [Electronic
version]. Supervision, 62(9), 3-6.

Websites:
www.citehr.com
www.google.com
 APPENDIX

Dear Sir/Mam
I am a summer intern and working on a project of A study of Employee
Satisfaction. As a part of my project, I need to get some information from
departmental heads in Bharti Axa Life Insurance. Below is the questionnaire which
will help me in successfully completing my project. I will be highly thankful if you
can spare 10 minutes out of your busy schedule to fill this survey. Thanking you in
anticipation.

SURVEY ON EMPLOYEES SATISFACTION OF Bharti Axa Life Insurance.

Q.1 What is your gender.

a) Male b) Female

Q2) What department do you work in?

.

Q3) How long have you worked for this company?

Q4) How do you like this job?

Q5) I am treated with respect by management and the people I work with.
Strongly Disagree
Disagree
Undecided
Agree
Strongly Agree

Q6) Is there any career enhancement opportunities and growth in this job?
Yes No

Q7) How much do you participate in decision making?

20%-30%
30%-40%
40%-50%
50%-60%
above 60%

Q8) Are you satisfied with you salary level?

Q9) Management is flexible and understands the importance of balancing my work and
personal life.
Strongly Disagree
Disagree
Undecided
Agree
Strongly Agree
Q10) Are you agree with the company pay scale and bonus plans?

Q11) Do you feel there is change require in your department to improve working conditions?

YES NO