Job Satisfaction

"Job satisfaction is defined as "the extent to which people like (satisfaction)

or dislike (dissatisfaction) their jobs"
This definition suggests job satisfaction is a general or global affective react
ion that individuals hold about their job. While researchers and practitioners m
ost often measure global job satisfaction, there is also interest in measuring d
ifferent "facets" or "dimensions" of satisfaction. Examination of these facet co
nditions is often useful for a more careful examination of employee satisfaction
with critical job factors. Traditional job satisfaction facets include: co-work
ers, pay, job conditions, supervision, nature of the work and benefits."
Job satisfaction, a worker's sense of achievement and success, is generally perc
eived to be directly linked to productivity as well as to personal wellbeing. Jo
b satisfaction implies doing a job one enjoys, doing it well, and being suitably
rewarded for one's efforts. Job satisfaction further implies enthusiasm and hap
piness with one's work. The Harvard Professional Group (1998) sees job satisfact
ion as the keying redient that leads to recognition, income, promotion, and the
achievement of other goals that lead to a general feeling of fulfillment.
Importance to Worker and Organization
Frequently, work underlies self-esteem and identity while unemployment lowers se
lfworth and produces anxiety. At the same time, monotonous jobs can erode a work
er's initiative and enthusiasm and can lead to absenteeism and unnecessary turno
ver. Job satisfaction and occupational success are major factors in personal sat
isfaction, selfrespect, self-esteem, and self-development. To the worker, job sa
tisfaction brings a pleasurable emotional state that often leads to a positive w
ork attitude. A satisfied worker is more likely to be creative, flexible, innova
tive, and loyal.
-1-
For the organization, job satisfaction of its workers means a work force that is
motivated and committed to high quality performance. Increased productivity—t
he quantity and quality of output per hour worked—seems to be a byproduct of i
mproved quality of working life. It is important to note that the literature on
the relationship between job satisfaction and productivity is neither conclusive
nor consistent. However, studies dating back to Herzberg's (1957) have shown at
least low correlation between high morale and high productivity, and it does se
em logical that more satisfied workers will tend to add more value to an organiz
ation. Unhappy employees, who are motivated by fear of job loss, will not give 1
00 percent of their effort for very long. Though fear is a powerful motivator, i
t is also a temporary one, and as soon as the threat is lifted performance will
decline. Tangible ways in which job satisfaction benefits the organization inclu
de reduction in complaints and grievances, absenteeism, turnover, and terminatio
n; as well as improved punctuality and worker morale. Job satisfaction is also l
inked to a more healthy work force and has been found to be a good indicator of
longevity. And although only little correlation has been found between job satis
faction and productivity, Brown (1996) notes that some employers have found that
satisfying or delighting employees is a prerequisite to satisfying or delightin
g customers, thus protecting the "bottom line." No wonder Andrew Carnegie is quo
ted as saying: "Take away my people, but leave my factories, and soon grass will
grow on the factory floors. Take away my factories, but leave my people, and so
on we will have a new and better factory"
-2-
Creating Job Satisfaction
So, how is job satisfaction created? What are the elements of a job that create
job satisfaction? Organizations can help to create job satisfaction by putting s
ystems in place that will ensure that workers are challenged and then rewarded f
or being successful. Organizations that aspire to creating a work environment th
at enhances job satisfaction need to incorporate the following:
• • •
Flexible work arrangements, possibly including telecommuting Training and other
professional growth opportunities Interesting work that offers variety and chall
enge and allows the worker opportunities to "put his or her signature" on the fi
nished product Opportunities to use one's talents and to be creative Opportuniti
es to take responsibility and direct one's own work A stable, secure work enviro
nment that includes job security/continuity An environment in which workers are
supported by an accessible supervisor who provides timely feedback as well as co
ngenial team members Flexible benefits, such as child-care and exercise faciliti
es Up-to-date technology Competitive salary and opportunities for promotion
• • • •
• • •
Probably the most important point to bear in mind when considering job satisfact
ion is that there are many factors that affect job satisfaction and that what ma
kes workers happy with their jobs varies from one worker to another and from day
to day. Apart from the factors mentioned above, job satisfaction is also influe
nced by the employee's personal characteristics, the manager's personal characte
ristics and management style, and the nature of the work itself. Managers who wa
nt to maintain a high level of job satisfaction in the work force must try to un
derstand the needs of each member of the work force. For example, when creating
work teams, managers can enhance worker satisfaction by placing people with simi
lar backgrounds, experiences, or needs in the same workgroup. Also, managers can
enhance job satisfaction by carefully matching workers with the type
-3-
of work. For example, a person who does not pay attention to detail would hardly
make a good inspector, and a shy worker is unlikely to be a good salesperson. A
s much as possible, managers should match job tasks to employees' personalities.
Managers who are serious about the job satisfaction of workers can also take ot
her deliberate steps to create a stimulating work environment. One such step is
job enrichment. Job enrichment is a deliberate upgrading of responsibility, scop
e, and challenge in the work itself. Job enrichment usually includes increased r
esponsibility, recognition, and opportunities for growth, learning, and achievem
ent. Large companies that have used job-enrichment programs to increase employee
motivation and job satisfaction include AT&T, IBM, and General Motors (Daft, 19
97). Good management has the potential for creating high morale, high productivi
ty, and a sense of purpose and meaning for the organization and its employees. E
mpirical findings show that job characteristics such as pay, promotional opportu
nity, task clarity and significance, and skills utilization, as well as organiza
tional characteristics such as commitment and relationship with supervisors and
co-workers, have significant effects on job satisfaction. These job characterist
ics can be carefully managed to enhance job satisfaction. Of course, a worker wh
o takes some responsibility for his or her job satisfaction will probably find m
any more satisfying elements in the work environment. Everett (1995) suggests th
at employees ask themselves the following questions:
• • • • •
When have I come closest to expressing my full potential in a work situation? Wh
at did it look like? What aspects of the workplace were most supportive? What as
pects of the work itself were most satisfying? What did I learn from that experi
ence that could be applied to the present situation?
-4-
Workers' Roles in Job Satisfaction
If job satisfaction is a worker benefit, surely the worker must be able to contr
ibute to his or her own satisfaction and well-being on the job. The following su
ggestions can help a worker find personal job satisfaction:
•
Seek opportunities to demonstrate skills and talents. This often leads to more c
hallenging work and greater responsibilities, with attendant increases in pay an
d other recognition.
•
Develop excellent communication skills. Employers value and reward excellent rea
ding, listening, writing, and speaking skills. Know more. Acquire new job-relate
d knowledge that helps you to perform tasks more efficiently and effectively. Th
is will relieve boredom and often gets one noticed.
•
•
Demonstrate creativity and initiative. Qualities like these are valued by most o
rganizations and often result in recognition as well as in increased responsibil
ities and rewards.
•
Develop teamwork and people skills. A large part of job success is the ability t
o work well with others to get the job done. Accept the diversity in people. Acc
ept people with their differences and their imperfections and learn how to give
and receive criticism constructively. See the value in your work. Appreciating t
he significance of what one does can lead to satisfaction with the work itself.
This helps to give meaning to one's existence, thus playing a vital role in job
satisfaction.
•
•
•
Learn to de-stress. Plan to avoid burnout by developing healthy stressmanagement
techniques.
-5-
Assuring Job Satisfaction
Assuring job satisfaction, over the longterm, requires careful planning and effo
rt both by management and by workers. Managers are encouraged to consider such t
heories as Herzberg's(1957) and Maslow's (1943) Creating a good blend of factors
that contribute to a stimulating, challenging, supportive, and rewarding work e
nvironment is vital. Because of the relative prominence of pay in the reward sys
tem, it is very important that salaries be tied to job responsibilities and that
pay increases be tied to performance rather than seniority. So, in essence, job
satisfaction is a product of the events and conditions that people experience o
n their jobs. Brief (1998) wrote: "If a person's work is interesting, her pay is
fair, her promotional opportunities are good, her supervisor is supportive, and
her coworkers are friendly, then a situational approach leads one to predict sh
e is satisfied with her job" (p. 91). Very simply put, if the pleasures associat
ed with one's job outweigh the pains, there is some level of job satisfaction
-6-
COMPANY PROFILE
Kotak Mahindra old mutual life insurance ltd. Is a joint venture between kotak M
ahindra banks Ltd.? And old mutual plc. At kotak life insurance, we aim to help
customers to take financial Decisions at every stage in life by offering them a
wide range of innovative life insurance Products, to make them financial indepen
dent11. Mr. Gorang shah is the managing director of kotak Mahindra old mutual li
fe insurance limited.
-7-
-8-
KOTAK MAHINDRA GROUP
Established in 1984, the Kotak Mahindra Group has long been one of India’s most
reputed organizations in the financial services domain. Kotak Mahindra Group is
committed for providing high quality financial products, services and support to
its customers; and is structured in different businesses like Banking, Life Ins
urance, Mutual Funds, Car Finance, Securities and Institutional equities. As on
31 st December 2006, the group stands at a net worth of around Rs. 3100 crore, e
mployees around 9600 people in its various branches providing services at across
300 cities. The Group services around 2.2 million customer accounts11.
OLD MUTUAL Plc.
Old Mutual, a company with 160 years experience in life insurance, is an interna
tional financial services group listed on the London Stock Exchange and included
in the FTSE 100 list of companies, with assets under management worth $ 400 Bil
lion as on 30th June, 2006. For customers, this joint venture translates into a
company that combines international expertise with the understanding of the loca
l market. The group has a substantial presence in the UK, US and South African m
arkets. The company is also working in the field of asset management, banking an
d general insurance services in over 40countries. As on 31 December 2005, Old Mu
tual had more than 7 million life insurance policies, 3.6 million banking custom
ers and over 5, 50,000 general insurance policies11.
-9-
OTHER GROUP COMPANIES OF KOTAK LIFE INSURANCE
KOTAK MAHINDRA BANK LTD KOTAK MAHINDRA CAPITAL COMPANY LTD INTERNATIONAL SUBSIDI
ARIES KOTAK MAHINDRA PRIME LTD KOTAK SECURITIES LTD KOTAK MAHINDRA ASSET MANAGEM
ENT COMPANY
- 10 -
HISTORY OF KOTAK LIFE
KOTAK MAHINDRA Old Mutual Life Insurance is a joint venture between KOTAK MAHIND
RA Bank Ltd., along with its affiliates; and Old Mutual plc. Established in 1984
, the KOTAK MAHINDRA Group has long been one of India’s most reputed organizatio
ns in the financial services domain. KOTAK MAHINDRA Group is committed for provi
ding high quality financial products, services & support to its customers; and i
s structured in different business like Banking, Life Insurance, Mutual Funds, C
ar Finance, Securities, Institutional Equities and Investment banking. KOTAK MAH
INDRA Finance Ltd. the flagship company of KOTAK MAHINDRA Group was converted in
to KOTAK MAHINDRA Bank Ltd. in March 2003, making it the first NBFC to be offere
d a banking license. As on 31 st December 2006, the group stands at a net worth
of around Rs. 3100 crore, employing around 9600 people in its various business a
nd has distribution network of branches, franchisees, representative offices in
New York, London, Dubai and Mauritius. The group service around 2.2 million-cust
omer accounts 11.
- 11 -
- 12 -
- 13 -
HISTORY OF INSURANCE
Almost 4,500 years ago, in the ancient land of Babylonia, traders used to bear r
isk of the caravan trade by giving loans that had to be later repaid with intere
st when the goods arrived safely. In 2100 BC, the Code of Hammurabi granted lega
l status to the practice. That, perhaps, was how insurance made its beginning. L
ife insurance had its origins in ancient Rome, where citizens formed burial club
s that would meet the funeral expenses of its members as well as help survivors
by making some payments. As European civilization progressed, its social institu
tions and welfare practices also got more and more refined. With the discovery o
f new lands, sea routes and the consequent growth in trade, Medieval guilds took
it upon themselves to protect their member traders from loss on account of fire
, shipwrecks and the like. Since most of the trade took place by sea, there was
also the fear of pirates. So these guilds even offered ransom for members held c
aptive by pirates. Burial expenses and support in times of sickness and poverty
were other services offered. Essentially, all these revolved around the concept
of insurance or risk coverage. That s how old these concepts are, really. In 134
7, in Genoa, European maritime nations entered into the earliest known insurance
contract and decided to accept marine insurance as a practice.
- 14 -
The first step...
Insurance as we know it today owes its existence to 17th century England. In fac
t, it began taking shape in 1688 at a rather interesting place called Lloyd s Co
ffee House in London, where merchants, ship-owners and underwriters met to discu
ss and transact business. By the end of the 18th century, Lloyd s had brewed eno
ugh business to become one of the first modern insurance companies. Insurance an
d Myth... Back to the 17th century. In 1693, astronomer Edmond Halley constructe
d the first mortality table to provide a link between the life insurance premium
and the average life spans based on statistical laws of mortality and compound
interest. In 1756, Joseph Dodson reworked the table, linking premium rate to age
. Enter companies...
The first stock companies to get into the business of insurance were chartered i
n England in 1720. The year 1735 saw the birth of the first insurance company in
the American colonies in Charleston, SC. In 1759, the Presbyterian Synod of Phi
ladelphia sponsored the first life insurance corporation in America for the bene
fit of ministers and their dependents. However, it was after 1840 that life insu
rance really took off in a big way. The trigger: reducing opposition from religi
ous groups. The growing years...
- 15 -
The 19th century saw huge developments in the field of insurance, with newer pro
ducts being devised to meet the growing needs of urbanization and industrializat
ion. In 1835, the infamous New York fire drew people s attention to the need to
provide for sudden and large losses. Two years later, Massachusetts became the f
irst state to require companies by law to maintain such reserves. The great Chic
ago fire of 1871 further emphasized how fires can cause huge losses in densely p
opulated modern cities. The practice of reinsurance, wherein the risks are sprea
d among several companies, was devised specifically for such situations. In the
19th century, many societies were founded to insure the life and health of their
members, while fraternal orders provided low-cost, members-only insurance. Even
today, such fraternal orders continue to provide insurance coverage to members
as do most labor organizations. Many employers sponsor group insurance policies
for their employees, providing not just life insurance, but sickness and acciden
t benefits and oldage pensions. Employees contribute a certain percentage of the
premium for these policies. In India... Insurance in India can be traced back t
o the Vedas. For instance, yogakshema, the name of Life Insurance Corporation of
India s corporate headquarters, is derived from the Rig Veda. The term suggests
that a form of "community insurance" was prevalent around 1000 BC and practiced
by the Aryans. Burial societies of the kind found in ancient Rome were formed i
n the Buddhist period to help families build houses, protect widows and children
. Bombay Mutual Assurance Society, the first Indian life assurance society, was
formed in 1870. Other companies like Oriental, Bharat and Empire of India were a
lso set up in the 1870-90s.
- 16 -
It was during the swadeshi movement in the early 20th century that insurance wit
nessed a big boom in India with several more companies being set up. As these co
mpanies grew, the government began to exercise control on them. The Insurance Ac
t was passed in 1912, followed by a detailed and amended Insurance Act of 1938 t
hat looked into investments, expenditure and management of these companies fund
s. By the mid-1950s, there were around 170 insurance companies and 80 provident
fund societies in the country s life insurance scene. However, in the absence of
regulatory systems, scams and irregularities were almost a way of life at most
of these companies. As a result, the government decided nationalizes the life as
surance business in India. The Life Insurance Corporation of India was set up in
1956 to take over around 250 life companies. For years thereafter, insurance re
mained a monopoly of the public sector. It was only after seven years of deliber
ation and debate - after the RN Malhotra Committee report of 1994 became the fir
st serious document calling for the re-opening up of the insurance sector to pri
vate players -- that the sector was finally opened up to private players in 2001
. The Insurance Regulatory & Development Authority, an autonomous insurance regu
lator set up in 2000, has extensive powers to oversee the insurance business and
regulate in a manner that will safeguard the interests of the insured17.
- 17 -
FUTURE OF INSURANCE IN INDIA
As per a recent report “Indian Insurance Industry Forecast (2007-2009)” publishe
d by RNCOS, it has been found that “Life insurance market in India will likely r
each around Rs 1683 Billion by the year 2009. Changing consumer behavior, GDP gr
owth rate, changing socio economic demography, and natural calamities occurring
from time to time will remain the key contributors in this growth.” April 2007,
current FY’s first month, saw new businesses expand by 49%, whereas general insu
rance players witnessed 16% increase during the same month. Outstanding performa
nce of SBI Life, ICICI Prudential, and LIC helped the Indian life insurance indu
stry in mopping up almost Rs 2,892 crore in April this year, whereas it was Rs 1
,996 crore in the same month last year. On the other hand, Reliance Life, ING Vy
sya, and Bajaj Allianz were amongst those insurers that came across a decline in
their premium collection over the review period, as per the data compiled by In
surance Regulatory & Development Authority16. Selling almost 15, 89,684 policies
during this April, LIC - the largest life insurer in India -witnessed 57% growt
h in its new premiums that reached to Rs 2,134 crore. LIC grabbed a market share
of almost 71.56% during this April. Non-life or general insurance industry saw
a growth of 16% during this month, and ICICI Lombard was the second largest play
er in this segment. Business Standard published this in news on 14 June 2007. Lo
oking at the current scenario, it can be made out that the four established publ
ic-sector players namely, National Insurance, United India, Oriental Insurance,
and New India Assurance, may have to face stiff competition from private players
like Bajaj Allianz, Reliance General, and ICICI Lombard, as per Business Standa
rd.
- 18 -
According to RNCOS report “Indian Insurance Industry Forecast (2007-2009)”, “Per
formance of life insurance industry remained better in comparison to non life se
gment over the five year period spanning 2001-2005. Some qualitative factors, li
ke the deregulation rate of insurance market, and implementation rate of technol
ogies prevailing in the market, need to perform up to the industry expectations
in order to improve the growth rate of Indian life insurance market.” This repor
t provides an objective analysis of all aspects of Indian insurance industry. Th
e issues addressed in this report include: prospective investment areas in India
n life insurance industry, market strategies adopted by key players in this segm
ent, opportunities and challenges present in this industry, and so on15.
- 19 -
LIFE INSURANCE ADVANTAGES
Some of the life insurance advantages offered by different types of Life Insuran
ce Policies are: Life Insurance policies can help secure the future of childre
n for college/educational purposes as the amount of life Insurance Policy increa
ses on a minor’s or parent’s life. Life Insurance provides the option to pass
equal assets to the children who are not active in the Family business at the ti
me the family business is passed on. The growth of a cash-value policy is tax-
deferred - you do not pay taxes on the cash value accumulation until you withdra
w funds from the policy. Life Insurance helps retain your Business from the lo
ss of a key employee. Untimely death of a key employee can pose severe financial
loss to the business. A lot of Insurance products presently provide good retu
rns, which could be a beneficial way for saving necessary funds for retirement y
ears. Benefits are available immediately and may be used to help pay expenses
such as final illness and funeral costs, eliminating the need to sell estate ass
ets to cover these costs. A carefully signed Life Insurance Policy with desired
ownership and beneficiary arrangements helps secure you and your family in the l
ong term15.
- 20 -
CORPORATE STRUCTURE
- 21 -
FINANCIAL STRUCTURE
- 22 -
LITERATURE REVIEW
The literature survey conducted here include the academic books and website. the
study being conducted was “to evaluate the effectiveness of recruitment and sel
ection policy in relation with increasing attrition problem.” Gui L, Barriball K
L, While AE. 2nd Military Medical University, School of Nursing, Shanghai, PR Ch
ina.
Job satisfaction among nurses is of concern throughout the world but the satisfa
ction of nurse teachers has received less attention and no review of global rese
arch on the topic has been published. A comprehensive literature review (1976-20
07) was undertaken from an international perspective (n=26 papers and 4 doctoral
abstracts) to examine the state of knowledge about nurse teachers job satisfac
tion over time. Coverage over the last 30 years was selected to examine if the l
evel and contributing factors to nurse teachers job satisfaction have changed d
uring a time which has seen considerable developments and reorganization of nurs
e education as well as the role of nurse teachers. The purpose of this Part I pa
per is to: (i) review the different measurements of job satisfaction, (ii) repor
t the job satisfaction levels of nurse teachers and, (iii) identify the componen
ts of job satisfaction of nurse teachers. This paper provides the foundation for
the Part II paper which reviews the literature regarding the effects and relate
d factors of nurse teachers job satisfaction.
- 23 -
1. Prasad L.M. “Human resource management” pp219-purpose and importance of Recru
itment & selection can not be ignored as by this org. 2. Bhattacharyya Kumar Dip
ak, “Human resource management” Excel books pp166.-what is basically recruitment
, its introduction, how to carry out recruitment.. 3. Dwivedi R.S. “Managing Hum
an Resource, Personnel Management” (Indian enterprises, Galgotia publishing comp
any, New delhi,1st edition, pp96-97 -what is a recruitment policy .what factors
should be include while formulating. 4. Rao V.S.P, Human Resource Management”, E
xcel books,1st edition,pp151. Importance of tests while selecting the candidates
for the job, as these tests help the interviewer to better judge the candidate
his competency for the particular jobs. 5. Bernardin John H, “Human Resource Man
agement”, Tata Mc Graw Hill publishing company ltd., New Delhi, pp 160-163.the e
ffectiveness of selection method depends upon the reliability of the data ,valid
ity of the purpose & utility of the methods. 6. Gulati Ambika, “Training and Man
agement”, vol3, aug07, pp18-19, Importance of recruitment function in an organis
ation.
7. Gulati Ambika,” Training and Management”, vol3, june 07,pp46-4 changing role
of Human Resource 8. Gulati Ambika, “Training and Management”,vol3 a single clic
k for all recruitment solutions.
- 24 -
9. Rao Janardhan N, “MBA Review”mar07,pp33-37.-Paradigam shifts in human resourc
es. 10. Kothari C.B. “Research Methodology-Methods & Techniques”, new age intern
ational research methodology
- 25 -
OBJECTIVES OF THE STUDY
• • • • •
To find that whether the employees are satisfied or not.
To analyse the company’s working environment.
To check the Degree of satisfaction of employees.
To find that they are satisfied with their job profile or not.
To find that employees are working with their full capabilities or not.
- 26 -
RESEARCH METHODOLOGY
Research methodology is a way to systematically solve the problem. It may be und
erstood has a science of studying how research is done scientifically. In it we
study the various steps that all generally adopted by a researcher in studying h
is research problem along with the logic behind them. The scope of research meth
odology is wider than that of research method. Meaning of Research Research is d
efined as “a scientific & systematic search for pertinent information on a speci
fic topic”. Research is an art of scientific investigation. Research is a system
ized effort to gain new knowledge. It is a careful inquiry especially through se
arch for new facts in any branch of knowledge. The search for knowledge through
objective and systematic method of finding solution to a problem is a research.
RESEARCH DESIGN A research is the arrangement of the conditions for the collecti
ons and analysis of the data in a manner that aims to combine relevance to the r
esearch purpose with economy in procedure. In fact, the research is design is th
e conceptual structure within which research is conducted; it constitutes the bl
ue print of the collection, measurement and analysis of the data. As search the
design includes an outline of what the researcher will do from writing the hypot
hesis and its operational implication to the final analysis of data. The design
is such studies must be rigid and not flexible and most focus attention on the f
ollowing 2;
- 27 -
Research Design can be categorized as:
TYPES OF RESEARCH DESIGN
EXPLORATORY RESEARCH DESIGN
DESCRIPTIVE & DIAGNOSTIC RESEARCH DESIGN
EXPERIMENTAL RESEARCH DESIGN
The present study is exploratory in nature, as it seeks to discover ideas and in
sight to brig out new relationship. Research design is flexible enough to provid
e opportunity for considering different aspects of problem under study. It helps
in bringing into focus some inherent weakness in enterprise regarding which in
depth study can be conducted by management.
- 28 -
DATA COLLECTION
For any study there must be data for analysis purpose. Without data there is no
means of study. Data collection plays an important role in any study. It can be
collected from various sources. I have collected the data from two sources which
are given below:
1. Primary Data
• • • • Personal Investigation Observation Method Information from correspondent
s Information from superiors of the organization
2. Secondary Data
• Published Sources such as Journals, Government Reports, Newspapers and Magazin
es etc. • Unpublished Sources such as Company Internal reports prepare by them g
iven to their analyst & trainees for investigation. • Websites like KOTAK’S offi
cial site, some other sites are also searched to find data.
- 29 -
Scope Of The Study
The scope of the study is very vital. Not only the Human Resource department can
use the facts and figures of the study but also the marketing and sales departm
ent can take benefits from the findings of the study.
Scope for the sales department
The sales department can have fairly good idea about their employees,tat they ar
e satisfied or not.
Scope for the marketing department
The marketing department can use the figures indicating that they are putting th
eir efforts to plan their marketing strategies to achieve their targets or not.
Scope for personnel department
Some customers have the complaints or facing problems regarding the job. So the
personnel department can use the information to make efforts to avoid such compl
aints.
- 30 -
Sample Size :Questionare is filled by 20 employees of Kotak life Insurance, Kait
hal. The questionnaire was filled in the office and vital information was collec
ted which was then subjects to: A pilot survey was conducted before finalizing
the questionnaire. Data collection was also done with the help of personal obs
ervation. After completion of survey the data was analysed and conclusion was
drawn. At the end all information was compiled to complete the project report.
- 31 -
Analysis & Interpretation
- 32 -
- 33 -
I have been passed up at least once for a promotion in the past few years.
0%
20%
50% 30%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 0% of employees are strongly agree about the point , 20% o
f employees are agree on the point, 30% are neither agree nor disagree,50% are d
isagree and rest 0% of employees are strongly disagree.
- 34 -
I spend parts of my day daydreaming about a better job.
10% 15% 0%
15%
60%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 60% of employees are strongly agree about the point , 15%
of employees are agree on the point, 15% are neither agree nor disagree,10% are
disagree and rest 0% of employees are strongly disagree.
- 35 -
I find much of my job repetitive and boring.
10% 10% 5% 0%
75%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 75% of employees are strongly agree about the point , 10%
of employees are agree on the point, 10% are neither agree nor disagree,5% are d
isagree and rest 0% of employees are strongly disagree.
- 36 -
I am mentally and/or physically exhausted at the end of a day at work.
5% 0%
10%
85%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 85% of employees are strongly agree about the point , 10%
of employees are agree on the point, 5% are neither agree nor disagree,0% are di
sagree and rest 0% of employees are strongly disagree.
- 37 -
I feel that my job has little impact on the success of the company.
0%
20%
50% 30%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 50% of employees are strongly agree about the point , 30%
of employees are agree on the point, 20% are neither agree nor disagree,0% are d
isagree and rest 0% of employees are strongly disagree.
- 38 -
I have an increasingly bad attitude toward my job, boss, and employer
0%
20%
20%
60% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree
This graph shows that 0% of employees are strongly agree about the point , 0% of
employees are agree on the point, 20% are neither agree nor disagree,60% are di
sagree and rest 20% of employees are strongly disagree.
- 39 -
I am no longer given the resources I need to successfully do my job.
0% 10%
60%
30%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 10% of employees are strongly agree about the point , 30%
of employees are agree on the point, 60% are neither agree nor disagree,0% are d
isagree and rest 0% of employees are strongly disagree.
- 40 -
I am not being used to my full capabilities.
0% 40% 40%
20% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree
This graph shows that 0% of employees are strongly agree about the point , 40% o
f employees are agree on the point, 20% are neither agree nor disagree,40% are d
isagree and rest 0% of employees are strongly disagree.
- 41 -
I have received no better than "fair" evaluations recently.
0% 40%
25%
35%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 40% of employees are strongly agree about the point , 35%
of employees are agree on the point, 25% are neither agree nor disagree,0% are d
isagree and rest 0% of employees are strongly disagree.
- 42 -
I feel as though my boss and employer have let me down.
0% 35% 10%
55%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 0% of employees are strongly agree about the point , 0% of
employees are agree on the point, 10% are neither agree nor disagree,55% are di
sagree and rest 35% of employees are strongly disagree.
- 43 -
I often feel overworked and overwhelmed.
0% 35% 45%
20% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree
This graph shows that 45% of employees are strongly agree about the point, 20% o
f employees are agree on the point, 35% are neither agree nor disagree,0% are di
sagree and rest 0% of employees are strongly disagree.
- 44 -
I am frequently stressed out at work.
0%
20%
50% 15%
15%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 0% of employees are strongly agree about the point, 20% of
employees are agree on the point, 15% are neither agree nor disagree,15% are di
sagree and rest 50% of employees are strongly disagree.
- 45 -
I live for weekends and days away from the job.
0% 10%
60%
30%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 0% of employees are strongly agree about the point, 0% of
employees are agree on the point, 10% are neither agree nor disagree,30% are dis
agree and rest 60% of employees are strongly disagree.
- 46 -
I find myself negatively comparing my situation to my peers.
0% 15%
20%
25% 40%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 0% of employees are strongly agree about the point, 15% of
employees are agree on the point, 25% are neither agree nor disagree,40% are di
sagree and rest 20% of employees are strongly disagree.
- 47 -
I feel my bad days at work outweigh the good ones.
0% 45%
25%
30%
Strongly Agree Strongly Disagree
Agree
Neither Agree nor Disagree Disagree
This graph shows that 25% of employees are strongly agree about the point, 30% o
f employees are agree on the point, 45% are neither agree nor disagree,0% are di
sagree and rest 0% of employees are strongly disagree.
- 48 -
I often experience a sensation of time standing still when I am at work.
0% 15%
20%
30%
35%
Strongly Agree Strongly Disagree
Agree
Neither Agree nor Disagree Disagree
This graph shows that 15% of employees are strongly agree about the point, 35% o
f employees are agree on the point, 30% are neither agree nor disagree,20% are d
isagree and rest 0% of employees are strongly disagree.
- 49 -
I have been told that I am becoming a more cynical person.
Strongly Agree 0% 35% 10% 25% Agree Neither Agree nor Disagree Disagree 30% Stro
ngly Disagree
This graph shows that 10% of employees are strongly agree about the point, 25% o
f employees are agree on the point, 30% are neither agree nor disagree,35% are d
isagree and rest 0% of employees are strongly disagree.
- 50 -
I feel as though my employer has broken promises about my future with the organi
zation.
0% 40% 10% 25%
25% Strongly Agree Strongly Disagree Agree
Neither Agree nor Disagree Disagree
This graph shows that 0% of employees are strongly agree about the point, 10% of
employees are agree on the point, 25% are neither agree nor disagree,25% are di
sagree and rest 40% of employees are strongly disagree.
- 51 -
I have lost sight of my career goals and aspirations.
15% 0% 15%
25% 45%
Strongly Agree Neither Agree nor Disagree Strongly Disagree
Agree Disagree
This graph shows that 15% of employees are strongly agree about the point, 25% o
f employees are agree on the point, 45% are neither agree nor disagree,15% are d
isagree and rest 0% of employees are strongly disagree.
- 52 -
I no longer feel valued for my work.
10% 20%
25%
20%
25%
Strongly Agree Strongly Disagree
Agree
Neither Agree nor Disagree Disagree
This graph shows that 25% of employees are strongly agree about the point, 25% o
f employees are agree on the point, 20% are neither agree nor disagree,20% are d
isagree and rest 10% of employees are strongly disagree.
- 53 -
Findings
o Employees are not completely satisfied with their job although their salary is
good enough. o Employes are not getting value to their work. o Most of employee
s think that they are nt on their actual path. o Most of the employees think tha
t the organization haven’t fulfill their promises,what they do in beginning espe
cially regarding Promotion. o There is negatively comparison between peers espec
ially regarding targets. o They often feel overworked.
- 54 -
SUGGESTIONS AND RECOMMENDATIONS
To increase the job satisfaction level of the employees the company should conce
ntrate mainly on the incentive and reward structure rather than the motivational
session. • • • Ideal employees should concentrate on their job.
Educational qualification can be the factor of not an effective job.
Company should give promotion to those employees who deserves it.
- 55 -
LIMITATIONS OF STUDY
However I shall try my best in collecting the relevant information for my resear
ch report, yet there are always some problems faced by the researcher. The prime
difficulties which I face in collection of information are discussed below:1. S
hort time period: The time period for carrying out the research was short as a r
esult of which many facts have been left unexplored.
2. Lack of resources: Lack of time and other resources as it was not possible to
conduct survey at large level. 3. Small no. of respondents: Only 20 employees h
ave been chosen which is a small number, to represent whole of the population. 4
. Unwillingness of respondents: While collection of the data many consumers were
unwilling to fill the questionnaire. Respondents were having a feeling of wasta
ge of time for them. 5. Small area for research: The area for study was Kaithal,
which is quite a small area to judge job satisfaction level.
- 56 -
BIBLIOGRAPHY
BOOKS
1. Kothari C.R., Research Methodology, New Delhi; New Age International Publicat
ion, second edition. 2. Ashwathapa K., Human Resource Management (third edition)
, Tata Mc Graw Hill Publication Company Ltd. Page no. 81-136,171,179,267,284. 3.
Chhabra. , T. N. Human Resource Management ,Dhanpat Rai $Co(P)Ltd. India,ninth
edition. 4. Monnapa Arun., Human Resource Management ,Tata Mc Graw Hill Publicat
ion Company Ltd.
WEBSITES:a. www.kotaklifeinsurance.com/home/products b. www.kotak.com/coms2/prod
uct-compint-0000950756-page.html c. www.irda.org/insurance/benefits-kotak,-ind
d. www.ask.com-/meaning-insurance/history//e. www.ibef.org/industry/insurance-tr
end/in
- 57 -
ANNEXURE QUESTIONNAIRE
NAME: …………………………………………. DESIGNATION: ………………………………. COMPANY: ……………………………………. 1. I
have been passed up at least once for a promotion in the past few years. • • •
• • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
2. I spend parts of my day daydreaming about a better job. • • • • • Strongly Ag
ree Agree Neither Agree nor Disagree Disagree Strongly Disagree
3. I find much of my job repetitive and boring. • • • • • Strongly Agree Agree N
either Agree nor Disagree Disagree Strongly Disagree
- 58 -
4. I am mentally and/or physically exhausted at the end of a day at work. • • •
• • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
5. I feel that my job has little impact on the success of the company. • • • • •
Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
6. I have an increasingly bad attitude toward my job, boss, and employer . • • •
• • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
7. I am no longer given the resources I need to successfully do my job. • • • St
rongly Agree Agree Neither Agree nor Disagree
- 59 -
• •
Disagree Strongly Disagree
8. I am not being used to my full capabilities. • • • • • Strongly Agree Agree N
either Agree nor Disagree Disagree Strongly Disagree
9. I have received no better than "fair" evaluations recently. • • • • • Strongl
y Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
10. I feel as though my boss and employer have let me down. • • • • • Strongly A
gree Agree Neither Agree nor Disagree Disagree Strongly Disagree
11. I often feel overworked and overwhelmed. • • Strongly Agree Agree
- 60 -
• • •
Neither Agree nor Disagree Disagree Strongly Disagree
12. I am frequently stressed out at work. • • • • • Strongly Agree Agree Neither
Agree nor Disagree Disagree Strongly Disagree
13. I live for weekends and days away from the job. • • • • • Strongly Agree Agr
ee Neither Agree nor Disagree Disagree Strongly Disagree
14. I find myself negatively comparing my situation to my peers. • • • • • Stron
gly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
15. I feel my bad days at work outweigh the good ones.
- 61 -
• • • • •
Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
16. I often experience a sensation of time standing still when I am at work. • •
• • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagre
e
17. I have been told that I am becoming a more cynical person. • • • • • Strongl
y Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree
18. I feel as though my employer has broken promises about my future with the or
ganization. • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree
- 62 -
•
Strongly Disagree
19. I have lost sight of my career goals and aspirations. • • • • • Strongly Agr
ee Agree Neither Agree nor Disagree Disagree Strongly Disagree
20. I no longer feel valued for my work. • • • • • Strongly Agree Agree Neither
Agree nor Disagree Disagree Strongly Disagree
- 63 -