Professional Documents
Culture Documents
INTRODUCTION
1
INTRODUCTION
Human resource is considered to be the most valuable asset in any organization. It is the
total of inherent abilities, aptitudes of the employed persons who comprise executives,
supervisors and the rank and file employees. It may be noted here that human resources should
be utilized to the maximum possible extent, in order to achieve and organizational goals. It is
thus the employees’ performance which ultimately decides and attainment of goals However,
his employees’ performance by motivation and job satisfaction.
Job satisfaction refers to a person’s feeling satisfaction on the job, which acts as a
motivation to work. It is not the self-satisfaction, happiness, But satisfaction on the job.
The term relates to the total relationship between an individual and the employer for
which he is paid. Satisfaction does mean the simple feeling –state accompanying the
attainment by an impulse of motivation at work. Research workers differently described the
factors contributing to job satisfaction and job dissatisfaction.
Hop pock describes job satisfaction as, “any combination of psychological and
environmental circumstance that cause and person truthfully to say I am satisfied with my job.
Job satisfaction is defined as the “pleasurable emotional state resulting from the appraisal of
one’s’ job satisfaction is defined as “The UN pleasurable emotional state resulting from the
appraisal of one’s’ job values (or) as entailing disvalues “However, both satisfaction and
dissatisfaction were, seen as “a function of the perceived relationship between on perceives it
as offering (or) entailing
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Theoretical framework
“Labor is neither commodity of commerce nor a pawn the chess board but a human being
has to be regarded”.
A recent estimate by Locke suggested that over Five thousand articles or dissertations
have been produced to date and the number is of course rising yearly. The reason for the
popularity of the subject is not hard to explain. Most individuals spend a large part of their
working lives at work. So that an understanding of factors involved in job satisfaction is relevant
to improving the well being of a large number of individual’s in an important aspect of their live.
Another important reason for investigating job satisfaction is the belief that increasing job
satisfaction will increase productivity and hence the profitability of the organization.
Human Resource is considered to be most powerful & Valuable asset for any
organization. Human Resources may be considered to be the total knowledge, Skills, creative
abilities, talents and aptitudes of an organization. Work force as well as values, attitudes and
benefits, acquired through knowledge and skills, represented by the talents and aptitudes of the
employed persons. It may be noted too achieve individual and organizational objectives. Work
force as well as values, attitudes and benefits, acquired through knowledge and skills,
represented by the talents and aptitudes of the employed persons. It may be noted to achieve
individual and organizational objectives. It is the employee’s performance, which ultimately
decides the character, depends upon effective used of its Human Resources. That is why in an
organization the people employed are realized to be the richest asset as well as most problematic
one to be managed & maintained. The problem of handling Human Resources is quite different
from that of physical material & financial resources because the former is not standardized
Interchangeable or passive always. Motivation and job satisfaction to a larger influence this
performance of this factor.
Job satisfaction refers to persons feeling of satisfaction on the job which acts a
motivational tool to work is meant to be important to define the works job that acts as a
motivational tool to work is meant to be important to define the works job and satisfaction before
defining its entire concept
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The term job relates to the total relationship between on individual and the I\employer
for which he is paid satisfaction does mean the simple feeling accompanying the attainment of
any goal.” The term Job Satisfaction is a peculiar concept. The importance & urgency of
studying Job Satisfaction has come
In the words of E .A. Locke job dissatisfaction can also be defined as a unappeasable
emotional state resulting from the appraisal of one’s job as frustrating or blocking the attachment
of one’s job values or as entitling this values’. Dissatisfaction in the view of Keith Davis is due
to the disagreement between one’s expectation from the job & rewards that job provide.
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JOB SATISFACATION AND RELATED FACTORS
Locke has examined the relationship between success in a task and satisfaction. He notes
the difficulty in deciding upon the cause effect relationship. Particularly if one asks individuals
after the event how satisfied they were with the task. The most successful might report them
satisfied because of their success. When impact, it was their enjoyment of the task, which led to
greater achievement rather than be caused by it.
Recognition
It is self-evident that satisfaction with pay is an important element in our job satisfaction.
Yet the evidence relating to the importance of pay in job satisfaction is surprisingly confliction
with some studies apparently showing that pay is of little importance in relation to one’s job
satisfaction.
Security
In many ways the question of security is more fundamental to job satisfaction than any of
other aspects of a job. Security is, of course a classic example of hygiene factor, paramount when
it’s absent and causing dissatisfaction, but unimportant when there is no threat to the job.
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As with pay the importance of co-workers figures prominently as a factor in studies of
job satisfaction. Herzberg, in his review of the literature, found that social aspect of the job were
rated first on average in response to the question of what made people most satisfied or
dissatisfied with their job.
It is after all through our personal relationships, such as those with family and friends that
we give and receive most of life’s pleasures. The work situation is merely an extension of our
social interactions.
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THEORIES OF JOB SATISFACTION
There are vital differences among experts about the concept of job satisfaction. Basically,
there are four approaches/theories of job satisfaction.
1. FULFILLMENT THEORY
The proponents of this theory measure satisfaction in terms of rewards a person receives
or the extent to which his needs are satisfied. Further they thought that there is a direct
positive relationship between job satisfaction and the actual satisfaction of the expected
needs. The main difficulty in this approach is that job satisfaction as observed by willing, is
not only a function of what a person receives but also what he feels he should receive as there
would be considerable differences in the actual and expectation of persons . Thus, job
satisfaction cannot be regarded as merely a function of how much a person receives from his
job. Another important factor /variable that should be include predicting job satisfaction
accurately is the strength of the individual’s desire of his level of aspiration in a particular
area. This led to the development of the discrepancy-theory of the job satisfaction.
2. DISCREPANCY THEORY
The proponents of this theory argue that satisfaction is the function of what a
person actually receives from his job situation and what he thinks he should receive or
what he expected to receive.
When the actual satisfaction derived is less than expected satisfaction, it results in
dissatisfaction. As discussed earlier. ”Job satisfaction, it results in dissatisfaction. As
discussed earlier,” job satisfaction and dissatisfaction are functions of the perceived
relationship between one wants from one’s job and what one perceive it is offering. ”This
approach does not make it clear whether or not over satisfaction. This led to the
development of equity –theory of the job satisfaction.
3. EQUITY THEORY
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The proponents of this theory are of view that a person’s satisfaction is
determined by his perceived equity, in turn is determined by his input-output balance
compared to his comparison of others input-output balance. Input-output balance is the
perceived ratio of what a person receives from his job relative to what he contributes to the
job. This theory is of the view that both under the over rewards lead to dissatisfaction while
the under-reward cases feelings of unfair treatment, over-reward leads to feelings of guilt
and discomfort.
4. HERBERG’STWO-FACTOR THEORY
As discussed earlier, Hertzberg, Minister, Peterson and cap well who identified certain
factors as satisfiers and dissatisfies developed this theory. Factors such as achievement,
recognition, responsibility etc., are satisfiers the presence of which causes satisfaction but
their absence does not result in dissatisfies.
On the other hand, factors such as supervision salary working condition etc are dissatisfies
the absence of which causes dissatisfaction. Their presence, however, does not result in job
satisfaction the studies designed to test their theory faked to give any Support to this theory,
as it seems that a person can get both satisfaction at the same time, which is not valid.
8
Communication
WORKING CONDITIONS
Working conditions that are compatible with an employee’s physical comfort and facilities doing
a good job contribute to job satisfaction. Temperature, humidity, ventilation, lighting and noise,
hours of work, cleanliness of the work place, and adequate tools and equipment are the feature,
which affect-satisfaction.
PROMOTION
Promotional opportunities effect job satisfaction considerably. The desire for promotion is
generally strong among employees involves change in job content, pays responsibility,
independence, status and the like. An average employee in a typical government organization can
hope to get two or three promotions in his entire service though chances of promotion
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JOB SATISFACTION AND EMPLOYEE TURNOVER
Higher job satisfaction is associated with lower employee turnover. More satisfied
employees are likely to stay with their employer longer. The reverse is also true. Those
employees who have lower satisfaction usually have higher rates of turnover. They are
likely to leave their employers and seek greener pastures elsewhere, their more satisfied
associates remain.
There are a number of ways of measuring job satisfaction. That includes rating
scale, critical incidents, interviews, and action tendencies.
INT
ERVIEWS
10
OBJECTIVES OF THE STUDY
Broad Objective
To study the overall job satisfaction of employees in Bajaj Allianz Life insurance
Company Limited, Hyderabad branch.
Specific Objectives
To examine the factors that influence job satisfaction of employees in the organization
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NEED FOR STUDY
Job satisfaction is seen more in higher levels of employees with increase in productivity
and performance.
Job satisfaction is visible in the lower cadre of employees also. The turnover is
increased with satisfied employees and satisfied sales force.
Job design is created to help employees to get satisfaction and perform better. The job
content, functions, relationships are will designed to motivate employees for better
results and achievement of organizational goals.
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SCOPE OF THE STUDY
This study is focusing on the organizational process and job satisfaction so as know the
satisfaction level of different employees in BAJAJ ALLAINZ INSURANCE COMPANY LTD.
The study is an even stronger source of satisfaction when members have similar attitudes
and values .Having people around with similar attitudes causes less friction day to day basis.
This study sought to explore the opinions and interest of the workers and executives at all
level about their job satisfaction at place and ethic effect their job satisfaction.
13
RESEARCH METHODOLOGY
The methodology is focused on Selection of the Sample, Data Collection and Data Analysis,
For the present study both the primary and secondary data collection techniques have been
adopted.
Primary Data
Survey method was adopted to collect the data. The Survey method is concerned with
describing, recording & interpreting existing conditions. The primary data was collected from the
60 respondent levels of employees which is comprise middle, top and bottom levels of
employees in BAJAJ ALLAINZ INSURANCE COMPANY LTD, always through the
structured close ended questionnaire. Various factors are included in the questionnaire to get
necessary information and enough care was taken into consideration while framing questions.
Secondary Data
The required secondary data has been collected from the company records, previous research
reports, publications, Government bulletins, and company’s official web site
Sample size
It constitutes the number of respondents to the study. I have taken 60 employees as a sample for
my study. The description of sample size was given below.
1 Top 4 0
2 Middle 30 10
3 Supervisory 11 5
Total 45 15
GRAND TOTAL 60
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Sampling technique
Simple random sampling technique was adopted to pick the sample from various levels of
management are better in the private sector. It is no surprise that the employee takes promotion
as the ultimate achievement in his career and when it is realized, he feels extremely satisfied.
The study limited to Bajaj Allianz Life Insurance Company Limited, Hyderabad branch.
Employees are not interested to answer the forms, but we convinced them for answering.
The Employees name is mentioned in the questionnaire for collection of the forms. They
feel that there may be any (negative) draw back to them if they gave the information
negatively.
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CHAPTER-2
REVIEW OF LITERATURE
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REVIEW OF LITERATURE
Life insurance helps to ensure that your family and loved ones are protected against
financial difficulties in the event of a premature death. Combined with investments, retirements
and estate planning, life insurance is a fundamental part of a sound financial plan. With the help
of insurance professional you can develop a complete plan that will protect you and your family.
Life insurance is a very important part of personal financial planning because it is the
quickest and easiest source of cash for your family upon your death. Within days, the insurance
company will deliver a check to your designated beneficiaries. This provides the money needed
for funeral expenses, as well as for family living expenses.
Life insurance is an essential part of financial planning. The main purpose of purchasing
life insurance is to ensure that your dependents are financially protected in the event of death.
Life insurance is a way to plan for the future so you need to be sure that the coverage you
purchases fits your needs.
There are many options available to you when purchasing life insurance. Some policies
provide coverage for your lifetime and others provide coverage for a specific number of years.
With certain policies, you are able to combine different kinds of insurance and even build up
your cash value. Your choice should be based on your needs and what you can afford.
Life insurance provides the means to transfer the economic risk of premature death. A life
insurance contract provides for the transfer of all or part of such economic risk – from the family
of the individual whose life is insured – to the insurance company.
Life insurance also provides for a most efficient and cost effective means to create
“instant cash” to assure the preservation of assets and to pay for the various forms of “death
taxes” as well as sudden expected or unexpected income taxes.
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DEFINITIONS OF INSURANCE
A formal social device for reducing risk by transferring the risks for several individual
entities to an insurer, the insurer agrees, for a consideration, to pay for the loss in the amount
specified in the contract.
CONCEPT OF INSURANCE
In simple terms this means that a lot of people who think they may suffer a loss all put in
a little money to cover financial costs for those among them who actually sustain the loss. Of
course, you don’t need insurance for everything, only those things that would cause a substantial
financial burden on you, if you had to replace them on your own.
Insurance works on the concept of risk sharing. Risk sharing divides risk among many
people. For example, all of you run the risk of having your car stolen. However, the past many
tell us that only one of your cars will actually be stolen this year. Therefore, you may all get
together and decide to each pay a small amount that will go to the unlucky and unknown person
maybe you who actually will have their car stolen. This is basically how insurance works.
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INSURANCE BUSINESS
Life Insurance
Fire Insurance
Marine Insurance
Miscellaneous Insurance
Life Insurance transacts life insurance business: General insurers transact the rest.
INSURANCE IN INDIA
In our country, first Insurance Company to be started was the Bombay Mutual Assurance
Society Limited, in 1870, followed by Oriental Life Assurance Company Baath, Empire of India
in 1974, 1886 and 1897 receptivity...
With the increasing number of Life Insurance Companies, then the Central Government
decided to regulate and control the Insurance Companies, by passing a legislation called the
INSURANCE ACT, 1983,in the interest of innumerable number of policyholders whose hard
earned money the companies were collecting as trust money.
In the year 1955, nearly 250 Companies were in existence and as there was no protection
or guarantee to the policyholder’s money, the Central Government nationalized the Life
Insurance industry and formed LIFE INSURANCE CORPORATION OF INDIA, which came
into existence on 1-9-1956.
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UNDERSTANDING LIFE INSURANCE
Buying a life policy is a major decision, which usually accompanies major changes in
your life. Most people buy life insurance when they get married, or buy a home or have kids, or
when other life changing events take place.
Because so much is happening, it is easy to overlook the complexity of the subject when
purchasing your first policy. But those who take the time to learn more usually end up saving a
lot of money on their premiums, simply by knowing what coverage they need, and what they can
do without. This site is here to help you do just that.
HISTORICAL PERSPECTIVE
Insurance began in China merchants who had to travel on the dangerous Yangtze River
spread their goods on several ships, so if a ship went down, no one person would lose all of their
goods. This established the basic idea of insurance: Distributing the costs among a large group of
people to share the losses incurred by a few.
The history of life insurance in India dates back to 1818 when it was conceived as a
means to provide for English Widows. Interestingly in those days a higher premium was charged
for Indian lives than the non-Indian lives as were considered more risk for coverage.
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You may ask yourself ‘What makes life insurance or annuities superior to a savings or
investment plan for leaving a family financially secure?” For one, premature death can interrupt
such savings plans. If a person began a savings plan today with monthly deposits of $50 and died
next week in an auto accident, their heirs would receive $50 plus interest. If they used the $50 to
purchase a $100,000 life insurance policy instead, their heirs would receive $100, 00. So Life
Insurance can guarantee completion of family’s savings plan.
Another major advantage of whole life and annuities is their tax favored treatment. With
other forms of investments, the IRS requires a person to pay taxes on the interest credited each
year, whether or not they take out the interest. But most people who own whole life or annuities
do not have to pay taxes on the interest until they begin using the money, usually at retirement.
Many people pay taxes at a lower rate after they retire, so life insurance can reduce a person’s tax
burden.
While most investments options make your money harder, they are not substitutes to life
insurance. Only a life insurance policy gives you both risk cover as well as returns on savings.
Though life insurance, you will enjoy savings that guarantee full protection against the risk of
death of the insured. These Long-term savings are made in an easy hassle-free manner because
of the low and convenient installments of premiums. Moreover, it encourages, ‘forced thrift’
which means that the insured is made to pay his premiums and save his money, which he/she
might not do in the regular course of life.
Additionally, some life insurance policies often allow you to take loans against your
policy, should you require money to meet any unforeseen expenditure. Moreover, some life
insurance policies also allow saving on taxes. All of these facts make a life insurance policy an
ideal to gain protection as well as ensure savings.
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AN OVERVIEW OF THE REGULATION OF THE INDIAN INSURANCE
INDUSTRY
The state monopoly over the Indian Insurance Industry was brought to an end with the
passing of the Insurance Regulatory & Development Authority Act 1999 (the Act). The
nationalized general insurers (National, New India, Oriental, United India and GIC) and life
Insurer (the Life Insurance Corporation) continue to write business, but now do so alongside
private players. The Insurance (Amendment) bill 2001, which is currently making its way
through Parliament, is expected to further promote liberalization, particularly in the brokers
market.
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THE INSURANCE REGULATORY & DEVELOPMENT AUTHORITY
The IRDA was set up by the Act, and the IRDA is charged with the regulation and
promotion of India’s insurance sector. This includes the regulation of Insurers, Reinsures,
surveyors and loss assessors, insurance agents and, in the near future, brokers; it also includes the
protection of Policyholders.
In the event of death, by the process of Life Insurance, the amount assured’ for which
premium were paid will become payable. In the case of other forms savings the accumulated
amount with interest till date of death alone will become payable.
In the Life Insurance process, if the premium is not paid on the due date, the policy will
lapse resulting in the loss of valuable insurance protection-forcing the policyholder to continue
paying premium there by acting as a method of compulsory saving in addition to forcing thrift.
3. Tax Relief’s
By paying insurance premium, the assured obtains considerable relief in income tax,
wealth tax, etc.
Because of the provision of Assignment, etc, the insurance proceeds are settled without
any difficulty. Further, because of the provisions of Married Women’s Property Act, 1874 a
policy taken under provisions of this act, the proceeds are not liable for attachment by creditors.
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5. Ready Marketability and suitability for quick borrowing
In the event of the policyholder not is a position to pay premium or requiring money for
some urgent expenses, there are provisions like SURRENDR, availing of loans from insurers or
Banks
The insurance companies, particularly Life Insurance Companies collect a large amount
of money from the policyholders, because of the nature of their business. The life insurance
contracts are long-term contracts. By virtue of the contract, the companies, because or the level
premium system; collect more money that is required to covers risks in the earlier years. This
amount is utilized for covering risk in later years when the risk premium will be more than the
amount collected by way of annual premium. The excess amount in the earlier years with
accrued interest will accumulate to a very large amount which will be the Trust Money of the
policyholders and have to be invested properly, providing maximum yield to them. As the
amount accumulated is public money, it has to be utilized for public benefit instead enriching the
coffers of private individuals. Governments therefore have, through legislation, detailed the
procedure of such investments.
It wills thus that the Insurance Companies play a vital role in improvising the licking
conditions through investment in Government Welfare Projects besides helping Industrial
Development.
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INDIAN INSURANCE INDUSTRY
Insurers
General insurers
General insurance corporation of India (GIC) (with effect from des’2000’re designative a
national reinsurer)
General Insurers
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1. Royal Sandarac Alliance Insurance Co. Ltd.
2. Reliance General Insurance Co. Ltd.
3. IFFCO Tokyo General Insurance Co. Ltd.
4. Bajaj Allianz General Insurance Co. Ltd.
5. TATA AIG General Insurance Co. Ltd.
6. ICICI Lombard General Insurance Co. Ltd.
7. HDFC Chubb
8. Cholamandalam
9. Export Credit Guarantee Corporation (ECGC)
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CHAPTER-3
COMPANY PROFILE
27
COMPANY PROFILE
Bajaj Allianz Life Insurance Co. Ltd. is a joint venture between two leading
conglomerates – Allianz AG, one of the world’s largest insurance companies, and Bajaj Auto,
one of the biggest 2 and 3 wheeler manufactures in the world.
ALLIANZ GROUP
Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost
1, 74,000 employees. At the top of the international group is the holding company, Allianz AG,
with its head office in Munich.
Allianz Group provides its more than 60 million customers worldwide with a
comprehensive range of services in the areas of
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BAJAJ GROUP
Bajaj Auto Ltd. The flagship company of the Rs.8, 000 Cr Bajaj Group is the largest
manufacturer of two-wheelers and Three-wheelers in India and one of the Largest in the World.
A household name in India Bajaj Auto has a strong brand image & brand loyalty
synonymous with quality & customer focus.
Bajaj Auto finances one of the largest auto finance cos. In India Rs.4, 744 cr.
Turnover & Profits of 538 Cr. In 2002-03.
It has joined hands with Allianz to provide the Indian consumers with a distinct
option in terms of life insurance products.
As a promoter of Bajaj Allianz Life Insurance Co. Ltd. Bajaj auto has the
following of offer.
A strong brand-equity.
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BAJAJ ALLIANZ LIFE INSURANCE
IRDA CERTIFICATE
Bajaj Allianz Life Insurance Co. Ltd. was granted renewal of IRDA Certification on
February 10, 2003
SHARED VISION
Bajaj auto Ltd. the flagship company of the Rs.8,000 corer Bajaj group is the largest
manufacturer of two-wheelers in India and one of the largest in the world.
A household name in India, Bajaj Auto has a strong brand image & Brand loyalty
synonyms with quality & customer focus. With over 15,000employees, the company is an Rs.4,
000 core auto giant, is the largest 2/3-wheeler manufacturer in India and the 4 th largest in the
world. AAA rated by CRISH, Bajaj auto has been in operation for over 55 years. It has joined
hands with Allianz to provide the Indian consumers with a district option in terms of life
insurance products.
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As a promoter of Bajaj Allianz life insurance Co. Ltd. Bajaj Auto has the following to offer –
Experience in the financial service industry through Bajaj Auto Finance Ltd.
INDIAN OPERATIONS
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Growing at a Breakneck pace with a strong pan Indian Presence Bajaj Allianz has
emerged as a strong player in India.
Bajaj Allianz Life Insurance Company Limited is a joint Venture between two leading
conglomerates Allianz AG and Bajaj Auto Ltd. Characterized by global presence with a focus
and driven by customer orientation to establish high earnings potential and financial strength,
Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12 th March 2001. The company
received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration
(R3) No 116 on 3rd August 2001 to conduct Life Insurance Business in India.
Accelerated Growth
Highest standard of customer service & simplified claims process in the industry
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POINEERS OF BANK ASSURANCE IN INDIA
Having pioneered the phenomenon, Bank assurance is one our core Business Strategies.
Two of our strong Bank assurance tie-ups are:
Syndicate Bank
We have developed a range of life insurance products exclusively for our Bank assurance
partners. Also, our Products are customized to suit specific needs of banks.
Bajaj Allianz is the fastest growing general insurance company in India. Bajaj
Allianz general insurance Company Limited is a joint venture between Bajaj Auto Limited and
AG of Germany. Both enjoy a reputation of expertise, stability and strength.
2nd 2001 to conduct General Insurance business in India the company has been
authorized and paid up capital of Rs110crores. Bajaj auto holds 74cyo and remaining 26% held
by Allianz, AG and Germany
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Spread Life insurance widely and in particulars to the rural areas and to the socially and
economically backward classes with a view of reaching all persons in country and providing
them adequate financial cover against death at a reasonable cost.
Conduct business with utmost economy and with the full realizations that the
moneys belongs to the policy holders. Act as of the insured the public in their individual and
collective capacities. Meet the various life insurance need of community that would arise in the
changing in the social and economic environment. All people work in corporation to the best of
their capability in furthering the interests of the insured public by the providing efficient service
with courtesy. Promote amongst all agent and employees of the corporation a sense of
participations towards achievement of corporate goals.
We, at Bajaj Allianz, realize that you seek an insurer who we can trust your hard-earned
money with.
Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto,
trusted for over 55 years Indian market, together are committed to offering you financial
solutions that provide all the security you need yours family and yourself .
Bajaj Allianz brings to you several innovative products, the details of which you can
browse in this section.
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Insurance company criteria
1. Indian company investment is minimum 76% and foreign direct investment is maximum
24%.
2. I quid deposit of 100-150crore with IRDA.
3. Investment portfolio should be maintained.
4. Indian investment should be in Indian market.
At Bajaj Allianz, you seek an insure who can trust your hard-earned money with
Allianz AG with over 110 years of experience in over 70 countries and Bajaj Auto, trusted for
over 55 years in the Indian market, together are committed to offering you financial solution that
provide all the security you need for your family and yourself.
Bajaj Allianz brings to you several innovative products, the details of which you can
35
INDIVIDUAL PLANS
UNIT GAIN
RISK CARE
UNIT GAIN SP
TERM CARE
INVESTGAIN
An Endowment Plan
LIFETIME CARE
CHILDGAIN
Children’s Policy
SAVECARE ECONOMY SP
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CASHGAIN
LOANPRORECTOR
SWARNA VISHRANTI
Retirement Plan
KEYMAN INSURANCE
UNITGAIN PLUS
UNITGAIN PLUS SP
GROUP PLANS
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GROUP CREDIT SHIELD
Giving your employees and their families the heartening reassurance of your
care and financial security
ORGANISATION CHART
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CHAIRMAN
BOARD OF DIRECTORS
MANAGING DIRECTOR
EXECUTIVE DIRECTOR
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CHAPTER-4
DATA ANALYSIS
&
INTERPRETION
40
TABLE: 4.1
Highly agree 08 13
Agree 30 50
Disagree 14 24
Strongly disagree 08 13
Total 60 100
Interpretation
The above table and bar graph shows that 50% of employees agree, 24% of employees disagree,
13% of employees highly agree and 13% of employees strongly disagree that autonomy in their
work life.
TABLE..: 4.2
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MOTIVATING FACTORS IN THEIR COMPANY
Highly satisfied 06 10
Satisfied 46 77
Dissatisfied 05 08
Highly dissatisfied 03 05
Total 60 100
Interpretation
The above table and bar graph shows that 76% of employees are satisfied, 10% of
employees are highly satisfied, 8% of employees are dissatisfied and 5% of employees are highly
dies-satisfied towards motivating factors in their company.
TABLE: 4.3
Highly satisfied 10 16
42
Satisfied 30 50
Dissatisfied 20 34
Highly dissatisfied 00 00
Total 60 100
Interpretation
The above table and bar graph shows that 50% of employees are satisfied,16% of employees are
highly satisfied, 34% of employees are dissatisfied and 00% of employees are highly dies-
satisfied towards their organization culture
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TABLE: 4.4
Highly satisfied 10 17
Satisfied 40 66
Dissatisfied 3 85
Highly dissatisfied 7 12
Total 60 100
Interpretation
The above table and bar graph shows that 66% of employees are satisfied, 17% of employees are
highly satisfied, 12% of employees are highly dissatisfied and 5% of employees are dissatisfied.
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TABLE: 4.5
Excellent 00 00
Good 20 33
Average 28 47
Poor 12 20
Total 60 100
Interpretation The above table and bar graph shows that 20% of employees are satisfied,
28% of employees are dissatisfied and 12% of employees are highly dissatisfied about
voluntary and fringe benefits.
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TABLE: 4.6
Excellent 00 00
Good 20 30
Average 33 55
Poor 07 15
Total 60 100
Interpretation The above table and bar graph shows that 55% of employees feel that
good, 30% of employees feel average and 15% of employees feel poor about their company.
TABLE: 4.7
46
Degree of rating No. of respondents Percentage
Highly satisfied 00 00
Satisfied 24 40
Dissatisfied 22 37
Highly dissatisfied 14 23
Total 60 100
Interpretation The above table and bar graph shows that 24% of employees are satisfied,
22% of employees are dissatisfied and 14% of employees are highly dissatisfied about
incentives and bonus benefits in their company.
TABLE: 4.8
SATISFCTION LEVEL OF EMPLOYEES TOWARDS THE ORGANIZATION WORKING
ENVIRONMENT
Highly agree 03 05
47
Agree 45 75
Disagree 09 15
Strongly disagree 03 05
Total 60 100
Interpretation
The above table and bar graph shows that 75% of employees are agree, 15% of employees
are disagree, 5% of employees are highly agree and 5% of employees are highly disagree
towards their organization working environment is a good environment.
TABLE: 4.9
Highly satisfied 00 00
Satisfied 30 50
Dissatisfied 30 50
48
Highly dissatisfied 00 00
Total 60 100
Interpretation The above table and bar graph shows that 50% of employees are satisfied and
50% of employees are dissatisfied towards safety and healthy measure provided by their
organization.
TABLE: 4.10
Highly satisfied 00 00
Satisfied 50 83
Dissatisfied 10 17
Highly dissatisfied 00 00
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Total 60 100
Interpretation
The above table and bar graph shows that 83% of employees are satisfied, and 17% of
employees are dissatisfied towards their chances of promotions in their departments.
TABLE: 4.11
Intimate 06 10
Cordial 09 15
In different 00 00
Total 60 100
50
Interpretation The above table and bar graph shows that 75% of employees’ responses is just
work relation, 15% of employees’ responses is cordial relation, 10% of an employee's response is
intimate relation with superior.
TABLE: 4.12
Intimate 15 25
Cordial 10 17
Indifferent 00 00
Total 60 100
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Interpretation The above table and bar graph shows that 58% of employees responses is
just work relation, 25% of employees responses is intimate relation ,17% of an employee's
response is cordial relation with co-employees.
TABLE: 4.13
RESPONSES ABOUT SECURITY OF THEIR JOBS
Highly secure 00 00
Secure 32 53
No opinion 18 30
Not secure 10 17
Total 60 100
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Interpretation
The above table and bar graph shows that 53% of employees feels that secure, 30% of
employees feels that no opinion and 17% of employees feels that not secure about their jobs.
TABLE: 4.14
Highly satisfied 00 00
Satisfied 50 83
Dissatisfied 10 17
Highly dissatisfied 00 00
Total 60 100
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Interpretation
The above table and bar graph shows that 83% of employees are satisfied, and 17% of
employees are dissatisfied about the grievance factors in their Company.
TABLE: 4.15
Highly satisfied 00 00
Satisfied 29 48
Dissatisfied 26 43
Highly dissatisfied 05 09
Total 60 100
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Interpretation The above table and bar graph shows that 48% of employees are satisfied and
43% of employees are dissatisfied and 9% of employees are highly dissatisfied provided by
their organization.
TABLE: 4.16
Highly satisfied 00 00
Satisfied 50 83
Dissatisfied 10 17
Highly dissatisfied 00 00
Total 60 100
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Interpretation
The above table and bar graph shows that 83% of employees are satisfied, and 17% of
employees are dissatisfied towards about their present drawing salary.
TABLE: 4.17
Highly satisfied 00 00
Satisfied 14 23
Dissatisfied 22 37
Highly dissatisfied 24 40
Total 60 100
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Interpretation The above table and bar graph shows that 14% of employees are
satisfied and 37% of employees are dissatisfied and 40% of employees are highly dissatisfied
about incentives and bonus benefits in their company.
TABLE: 4.18
PERFORMANCE APPRAISAL SYSTEM FOLLOWED BY YOUR ORGANIZATOIN
Highly satisfied 00 00
Satisfied 30 50
Dissatisfied 30 50
Highly dissatisfied 00 00
Total 60 100
57
Interpretation The above table and bar graph shows that 50% of employees are satisfied and
50 % of employees are dissatisfied towards the performance appraisal system in the
organization.
CHAPTER-5
FINDINGS, SUGGESTIONS
AND CONCLUSION
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FINDINGS
1. Most of the employees are satisfied towards the reception about their work from
management.
2. 50% of employees are agreed and 24% are disagreeing that they having autonomy in their
work life.
3. Most of the employees are satisfied towards the recognition about their work from
management.
5. Most of the employees are satisfied towards the motivational factors of the
organization.
6. 55% of employees feel that average and 30% of employees feel that good about their
company.
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7. Most of the employees agreed that they are having good working in the organization.
8. 50% of employees are satisfied and 50% are dissatisfied towards the safety and health
measures provided by the company.
9. Most of the employees are satisfied towards their chances of promotion in their
departments.
10. Most of the employees have just work relation with superior.
11. Most of the employees have not only just work relation but also little coordination among
co-employees.
12. Most of the employees are satisfied towards their present drawing salary.
13. Most of the employees are satisfied towards grievance factors in their company.
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14. 52% of employees are dissatisfied and 48% of employees are satisfied towards fringe
benefits in their company.
16. It find that 47% of employees were dissatisfied and 33% of were satisfied and 20% were
highly dissatisfied towards their voluntary benefits in their company.
17. It finds that 40% of employees were satisfied and 37% were dissatisfied and 23% were
highly dissatisfied towards their increment and bonus facilities.
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18. It finds that 50% of employees were dissatisfied and 50% of employees were satisfied
towards the performance appraisal system of organization.
SUGGESTIONS
1. It is better to improve existing fringe benefits to workers for putting their complete efforts
on the work.
3. The suggestions and opinions of employees should be taken into consideration and they
must be recognized well by the management.
4. It is better to improve the existing voluntary benefits to employees it leads to the increase
the loyalty among the employees towards the company.
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CONCLUSION
Job satisfaction plays a vital role in every organization this is used for favorableness or
unfavorableness of the organization, which helps in the administration process.
The job satisfaction is done for promotions but it should be done for career development
and training also.
Job satisfaction will help the employees to increase their potential and knowledge in
various jobs.
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BIBLIOGRAPHY
64
BIBLIOGRAPHY
WWW. LEARNING.ORG.COM
WWW. VISTEION.COM
WWW. BALIC.COM
ANNEXURE
65
A STUDY ON JOB SATISFACTION OF EMPLOYEES
Dear respondent
Dear Respondent,
1. Name :
2. Age :
3. Department :
4. Qualification :
6. Experience
Questionnaire
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3. Do you satisfied with the work culture in your organization?
4. Are you satisfied with the recognition you get from the management for your work?
5. Are you satisfied with the employee career planning and development Programs in your
organization?
a) Excellent b) good
c) Average d) poor
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a) Highly agree b) agree
9. Are you satisfied with safety and health measures provided by organization?
10. How far are you satisfied with the chances if promotion in your department?
a) Intimate b) Cordial
a) Intimate b) Cordial
14. How far are you satisfied with Grievance procedures in your company?
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(A)Fringe benefits like canteen, rest rooms, medical centers etc…,
17. What is the satisfaction level of employees towards the management decision making
processes?
18. Are you satisfied with the performance appraisal system followed by your organization?
69