SUMMER PROJECT REPORT

ON

LEVEL OF EMPLOYEE ENGAGEMENT

FOR

DENTSU INDIA

Dentsu Media and communication Ltd, Bangalore.

Submitted in partial fulfillment of the requirement for the award of Degree of

Master of Business Administration

By

PRAVEENA K S

Roll No.: 27099

BHARATHIDASAN INSTITUTE OF MANAGEMENT

(School of Excellence of Bharathidasan University)

TIRUCHIRAPALLI 620014

1

DECLARATION

I hereby declare that the project report titled “Level of Employee Engagement”,

submitted in the partial fulfillment of the requirement for the award of degree of MBA, is

my original work.

This has not been submitted in part or full towards any other degree or diploma.

DINA MICHELE (27069)

MBA: 2010 - 2012

BHARATHIDASAN INSTITUTE OF MANAGEMENT

(SCHOOL OF EXCELLENCE OF BHARATHIDASAN UNIVERSITY)

TIRUCHIRAPPALLI

2

ACKNOWLEDGMENT

First and foremost I would like to thank my parents for their constant support in all

my endeavors.

I would like to express my sincere thanks and gratitude to Mr.Vimal

Parthasarathy, Director, Dentsu Media and communications Ltd. – Bangalore, for

providing me an opportunity to pursue this project in their organization and for his

constant motivation, guidance and support throughout the project.

I am also grateful to Mr. Kishore Singh, Media Head, for his valuable help and

guidance during the initial stages of my project.

I would like to thank the Director and all the Faculty members of BIM, Trichy,

for equipping me with necessary knowledge to carry out my project.

PLACE: Bangalore                                                 PRAVEENA K S

3

SYNOPSIS

Bajaj Allianz Life Insurance Company Ltd. is a union between Allianz SE, one of

the largest Insurance Company and Bajaj Finserv. Allianz SE is a leading insurance

conglomerate globally having over 119 years of financial experience and Bajaj FinServ is

one of the top financial services businesses in India.

Since the market share of LIC has increased but that of private players has

decreased, the tough challenge faced by private players in life insurance is to keep

expense under tight control and to increase productivity (number of policies per agent).

As employee productivity is connected with employee engagement, creating an

environment that encourages employee engagement is considered to be essential in the

effective management of human capital.

The proposed method is to categorize sales managers in Bajaj Allianz Life

Insurance Company Ltd. into three levels – engaged, not engaged and actively

disengaged and then measure engagement levels through a questionnaire that was

designed to measure engagement on three dimensions – motivation, satisfaction and

effectiveness. Motivation is measured through the satisfaction of organizational needs –

BASIC, INTERMEDIATE and ADVANCED. Satisfaction is measured through the

drivers - internal communication and planning, the employee’s role in the company,

training and career development opportunities, pay and benefits and the employee’s

relation with his/ her peers and superiors. Effectiveness is measured on three levels –

one’s own goals, manager’s expectations and organization’s expectations.

On analysis, it was found that a majority of the sales managers fell under the “not

engaged” category. Sales managers felt that they did not have the necessary brochures to

sell policies to customers and that incentives were sometimes not given. They also felt

that the company did not take any measures to help in work/life balance and that the

training provided was not satisfactory. Details of the analysis have been provided in the

Annexure and suggestions to improve on these dimensions have been proposed.

4

TABLE OF CONTENTS

DECLARATION

ACKNOWLEDGEMENT

SYNOPSIS

Page No.

1. Introduction

1.1. Life Insurance Industry

6

1.2. About Bajaj Allianz

7

1.3. Bajaj Group

9

2. Objective of the Project

10

3. Literature review

3.1. Employee Engagement

11

3.2. Categories of Employee engagement

11

3.3. Importance of Employee engagement

12

3.4. Factors influencing Employee engagement

13

4. Measuring employee engagement at Bajaj Allianz

4.1. Proposed Method

5

4.1.1. Motivation

15

4.1.2. Satisfaction

16

4.1.3. Effectiveness

17

5. Data analysis and Results

5.1. Methodology

19

5.2. Analysis

19

6. Recommendations and Conclusion23

Annexure 24

Glossary 30

Bibliography31

CHAPTER 1

INTRODUCTION

1.1. MEDIA INDUSTRY:

Life Insurance industry in India has seen rapid growth from the opening up of the

sector in 2000-01 till 2009 –10. Total premiums of the industry, which were Rs 500 Bn in

2001- 02, more than quadrupled to Rs 2,218 Bn in 2008-09, which is a compounded

annual growth rate in total premium of 18%. The number of policies sold by life insurers

6

in 2009-10 was over 53 Mn as against 25 Mn in 2001-02. Clearly, the life insurance

industry is one of the shining stars of the Indian economic engine. From a sector

dominated by LIC it has at present 22 companies in the private sector. While penetration

levels at 4% of GDP have increased significantly, the per capita spend on insurance is

quite low as compared to other countries and also less than half that of China (USD

105.4). Life insurance funds accounted for 19.5% of the total household savings as

compared to 15.1% in 2004-05.

The life insurance industry saw a sharp recovery by recording a growth of 25.5%

in the year 2009-10, overcoming a decline of 6.3% in the previous fiscal. The 23 life

insurers have mobilized a first year premium of Rs 1092.9 Bn in 2009-10 compared to Rs

871.1 Bn in the previous year. The market share of LIC has increased from 60.8% to

64.9% while that of the private players has been reduced from 39.2% to 35.1%. However,

it should be noted that growth is coming in single premium & group products which offer

lesser commission for distributors and has lesser expense allowance for the company.

Going forward the challenge is to keep expense under tight control & increasing

productivity (number of polices per agent) so that distributors can work even on low

commission.

1.2. ABOUT DENTSU MEDIA AND COMMUNICATIONS

LTD:

Corporate philosophy of DENTSU group:

Three sources of strength,driving our innovation,bringing positive change to people and society.

Ideas that reach beyond the imaginable.Technology that crosses the bounds of possibilities.Entrepreneurship that surpasses the expected.

7

Dentsu Incorporated (株式会社電通 Kabushiki-gaisha Dentsū? ) (TYO : 4324 ) is one of the largest advertising agency brands in the world. Its headquarters are located in the Dentsu Building in the Shiodome district of Minato, Tokyo .[2]

Dentsu's sales are more than double its nearest competitor, Hakuhodo or ADK , in the Japanese market. Dentsu's success and dominance in Japan stems from Dentsu's origins as a media representative during the early part of the 20th Century. Dentsu produced the first newspaper advertisements as well as the first television commercials in Japan. Dentsu now offers a range of services, all in-house, from traditional marketing and creative, to specialty disciplines such as sports marketing , entertainment rights, PR, digital contents, and a growing range of communications services.

OFFICE NETWORK:

Dentsu's Global Network spans the entire world, from the Americas, Europe and Russia, Asia and

Oceania, China and Taiwan, India and the Middle East, all the way to North Africa.

Dentsu works actively to strengthen ties with overseas companies that can provide specialized

high-quality services to our clients. Moreover, in October 2010 Dentsu created a new organization

called "Dentsu Network West" to further accelerate our global strategy, as well as support and

reinforce our U.S. and European businesses. In these and many other ways Dentsu is continually

striving to improve client services and build a more competitive global network.

BUSINESS DOMAINS AND STRENGTHS

The Dentsu Group, with the communications domain at its core, is engaged in a wide range of business activities.

From management and operating solutions to the implementation of marketing and communications strategies for

advertisers as well as media and content holders, the Group has earned a top-class reputation. Its presence in the

8

advertising communications industry is unrivalled thanks to the level of quality in each service category as well as

what Dentsu calls “Integrated Communication Design,” which combines individual services into a tangible format.

DIVERSE PORTFOLIOS:

The Dentsu Group's reach extends beyond mass media advertising services such as media planning, creative

execution and various marketing and sales promotional activities. As importance is being placed on the area of

social communication in the world today, together with its clients, the Group is actively involved in communication

activities that serve societal needs as well as those that encourage consumption. Furthermore, the Group

constantly promotes the establishment of new business domains through strong relationships with content holders

in the business of sports, where events such as the Olympic Games—both summer and winter—and the FIFA

World Cup™ attract widespread interest, and in the entertainment business, particularly feature films.

Integrated Solutions Capabilities

The fragmentation of consumer lifestyles, a changing sense of values and progress in digitization have all resulted

in diversification in the modes of communication between companies and consumers as well as a considerable shift in the needs of clients. In response, the Dentsu Group provides integrated solution services drawing on a deep reservoir of accumulated marketing-related expertise and solid relationships with leading media companies. Today, however, the emphasis is on the search for innovation in a new era of communication. Consequently, the Group will strive to reinforce its integrated solution capabilities. Starting with the advertising and promotional domains, the Group aims to broaden the scope of its solutions to include upstream domains, such as product development and management and operating strategies.

Considering the multi lingual diversity in the country and in order to effectively

reach and communicate with the customers, the company has initiated the process of

communicating with the customer his/her preferred language. The welcome letter, issued

along with the policy bond is printed in English as well as in 11 major regional

languages.

Bajaj Allianz has a dedicated cell for customer service which is titled “Customer

Focus Unit” (CFU). An E-servicing module, whereby customer requests pertaining to

policy servicing can be done electronically has been initiated. The company has also

developed an automated Interactive Voice Response (IVR) for the benefit of customers

for routine policy servicing matters. In order to provide better service to the customers

9

across the breadth of the country, IVR options have been made available in various

vernacular languages.

CORPORATE COMMUNICATION:

The company was ranked 26th as per the ET's Most Trusted Service Brand Survey

for the year 2009-10 and moved six places from the previous year. In association with

IBN 7 network, it sponsored the “Super Heroes” a Disability award to recognize and help

make a difference to the lives of 18 physically challenged individuals nominated from

across the country.

Bajaj Allianz Life was involved in a couple of Hindi movie associations in a

unique way which fitted with the company’s brand proposition viz Love Aaj Kal and Paa,

through which it promoted its new ad campaign which was interspersed with the film

promotions. A 360 degree campaign for tax saving plans and the unique concept of

Guarantee Express with synchronized activities in print, television, radio and road shows

at the local offices was also accentuated.

In addition to this Your Company sponsored the Annual Boat Race in Kerala,

India-South Africa cricket series, election campaign in Network 18 channels and Budget

campaign in Times NOW and ET NOW network channels which yielded good visibility

at optimum cost.

1.3. BAJAJ GROUP:

The financial services and wind energy businesses were transferred to Bajaj

FinServ Limited (BFS) as part of the recently concluded demerger of Bajaj Auto Limited,

approved by the Hon. High Court of Judicature at Bombay by its order dated December

18, 2007. The demerger is effective from the Appointed Date i.e. closing hours of

business on March 31, 2007.

10

Bajaj FinServ strives to be one of the top financial services businesses in India

focused on delivering superior customer experience through competitive products and

class leading services while providing consistent and superior returns to our shareholders

and maintaining the high levels of integrity of Bajaj.

The company is currently engaged in life insurance; general insurance and

consumer finance businesses and has plans to expand its business by offering a wide

array of financial products and services in India. Apart from financial services, BFS is

also active in wind-energy generation.

CHAPTER 2

OBJECTIVE OF THE PROJECT

In order for any workforce to be productive, it is essential that they are engaged. In

order to achieve high performance levels, an organization has to ensure that its employees

11

are engaged. Engaged employees work with passion and feel a strong connection to their

company. Engaged employees are more productive, more profitable, more customer-

focused, safer and less likely to leave their employer.

As employee productivity is clearly connected with employee engagement,

creating an environment that encourages employee engagement is considered to be

essential in the effective management of human capital.

Since the life insurance industry has the tough challenge to keep expense under

tight control and to increase productivity (number of polices per agent), sales managers

succumb to a lot of pressure to achieve their sales targets. The objective of this project is

To analyze the levels of engagement of sales managers in Tamil Nadu

To categorize them into three levels – engaged, not engaged and actively

disengaged

To find out the factors which cause employees to feel disengaged

To suggest measures to improve employee engagement at Bajaj Allianz Life

Insurance

CHAPTER 3

LITERATURE REVIEW

3.1. EMPLOYEE ENGAGEMENT:

12

Employee engagement is the level of commitment and involvement an employee

has towards their organization and its values. An engaged employee is aware of business

context, and works with colleagues to improve performance within the job for the benefit

of the organization. Employee Engagement can be defined as the measureable degree of

an employee's positive or negative emotional attachment to their job, colleagues and

organization which profoundly influences their willingness to learn & perform at work.

3.2. CATEGORIES OF EMPLOYEE ENGAGEMENT:

Employees can be categorized to fall under any one of the three levels of

engagement – engaged, not engaged and actively disengaged.

ENGAGED

"Engaged" employees are builders. They want to know the desired expectations

for their role so that they can meet and exceed them. They are naturally curious about

their company and their place in it. They perform at consistently high levels. They want

to use their talents and strengths at work every day. They work with passion and they

drive innovation and move their organization forward.

NOT ENGAGED

“Not-engaged” employees tend to concentrate on tasks rather than the goals and

outcomes they are expected to accomplish. They want to be told what to do just so they

can do it and say they have finished. They focus on accomplishing tasks vs. achieving an

outcome. Employees who are not-engaged tend to feel their contributions are being

overlooked, and their potential is not being tapped. They often feel this way because they

don't have productive relationships with their managers or with their coworkers.

ACTIVELY DISENGAGED

"Actively Disengaged" employees are consistently against virtually everything.

They're not just unhappy at work; they're busy acting out their unhappiness. They sow

seeds of negativity at every opportunity. Every day, actively disengaged workers

undermine what their engaged coworkers accomplish. As workers increasingly rely on

13

each other to generate products and services, the problems and tensions that are fostered

by actively disengaged workers can cause great damage to an organization's functioning.

3.3. IMPORTANCE OF EMPLOYEE ENGAGEMENT:

Engagement is important for managers to cultivate given that disengagement or

alienation is central to the problem of workers’ lack of commitment and motivation.

Meaningless work is often associated with apathy and detachment from ones works. In

such conditions, individuals are thought to be estranged from their selves.

An organization’s capacity to manage employee engagement is closely related to

its ability to achieve high performance levels and superior business results. Some of the

advantages of having an engaged workforce are:

Engaged employees will stay with the company, be an advocate of the company

products and services, and contribute to the bottom line of the business success

They will normally perform better and are Self-Motivated

There is a significant link between employee engagement and profitability

They form an emotional connection with the company. This impacts their attitude

towards the company’s clients, and thereby improves customer satisfaction and

service levels

It builds passion, commitment and alignment with the organization’s strategies

and goals

Increases employees’ trust in the organization

Creates a sense of loyalty in a competitive environment

Provides a high-energy working environment

Boosts business growth

Makes the employees effective brand ambassadors for the company

A highly engaged employee will consistently deliver beyond expectations.

3.4. FACTORS INFLUENCING EMPLOYEE ENGAGEMENT:

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WORKPLACE CULTURE

Workplace culture sets the tone for employee engagement. Is the culture

considered family friendly, for example, or is the organization so focused on getting

ahead that taking care of its employees is left out of the strategy?

ORGANIZATIONAL COMMUNICATION

Clear, consistent and honest communication is an important management tool for

employee engagement. There should be both upward and downward communication with

the use of appropriate communication channels in the organization. If the employee is

given a say in the decision making and has the right to be heard by his boss than the

engagement levels are likely to be high.

LEADERSHIP

Leadership is a key building block for improving engagement. Leadership emerges

as a requirement in terms of clarity of vision, the trust in senior management, leadership

for empowerment, through the interviews and focus groups.

COMPANY REPUTATION

How much employees are prepared to endorse the products and services which

their company provides its customers depends largely on their perceptions of the quality

of those goods and services. High levels of employee engagement are inextricably linked

with high levels of customer engagement.

ACCESS TO TRAINING AND CAREER OPPORTUNITIES

Organizations with high levels of engagement provide employees with

opportunities to develop their abilities, learn new skills, acquire new knowledge and

realize their potential. When companies plan for the career paths of their employees and

invest in them in this way their people invest in them.

WORK/ LIFE BALANCE

A person’s family life influences his wok life. When an employee realizes that the

organization is considering his family’s benefits also, he will have an emotional

attachment with the organization which leads to engagement.

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PERSONAL EMPOWERMENT

Employees want to be involved in decisions that affect their work. The leaders of

high engagement workplaces create an environment that is challenging and trustful, in

which employees are encouraged to dissent from the prevailing orthodoxy and to input

and innovate to move the organization forward.

CHAPTER 4

MEASURING EMPLOYEE ENGAGEMENT AT

BAJAJ ALLIANZ

4.1. PROPOSED METHOD:

16

Employee engagement encompasses commitment to the organization, satisfaction

with the job, passion for work and discretionary effort. With this in mind, a three factor

model – motivation, satisfaction and effectiveness, has been proposed to measure

employee engagement at the sales manager level. Engagement occurs when Satisfaction,

Motivation, and Effectiveness intersect. While each of these factors is important on its

own, it is only when all three are present simultaneously that true engagement occurs.

4.1.1 MOTIVATION

Motivation is the energy behind human behavior. Motivation is what channels and

directs the behavior and what maintains and sustains the action. Based on the theories of

motivation put forth by Maslow (Hierarchical theory of needs), Alderfer (ERG model)

and Herzberg (Two factor theory), organizational needs can be classified into three levels

– BASIC, INTERMEDIATE and ADVANCED.

BASIC:

The first level is a categorization of items that address basic needs of the job.

BASIC items are fundamental to the job. If they are left unmet or unfulfilled, employees

could become dissatisfied with their job and the company.

INTERMEDIATE:

The second level is a categorization of items that address growth and development

needs. These items make up the INTERMEDIATE category. Once the basic needs are

17

ENGAGEMENTENGAGEMENT

met, employees can focus more on INTERMEDIATE factors. If INTERMEDIATE

factors are fulfilled, satisfaction with the job and the company will improve.

ADVANCED:

The third level is a categorization of items that address organizational commitment

needs. These items make up the ADVANCED factors. To exceed employee’s

expectations, ADVANCED factors need to be addressed.

One level does not have to be completely fulfilled to reach the next level. If low

scores are present for items in the BASIC level, then measures must be taken to work on

these items, first.

4.1.2 SATISFACTION

Satisfaction is a positive or pleasurable emotional state resulting from one’s job or

job experience. There are several factors that make up or influence employee satisfaction

– internal communication and planning, the employee’s role in the company, training and

career development opportunities, pay and benefits and the employee’s relation with his/

her peers and superiors.

INTERNAL COMMUNICATION AND PLANNING:

When an employee has the freedom to voice his/her difficulties in the job to

his/her manager and if the manager takes steps to resolve the problems/difficulties posed,

effective communication is in place. A manager must also make sure that the employees

understand what is expected of them in the job.

ROLE:

When the employee’s role in the company makes him/her get absorbed in his/her

work and allows him/her adequate autonomy in making decisions, he/ she becomes

satisfied with his/her role.

TRAINING AND CAREER DEVELOPMENT OPPORTUNITIES:

An organization should provide its employees adequate training at the time of

induction to allow them to get settled in their work environment. Apart from the

18

induction training, personal development training as well as training on recent

developments in the field is essential.

PAY AND BENEFITS:

An employee should feel that his/her pay is adequate for his responsibilities. Apart

from this he/she should get adequate incentives when targets are achieved and reward and

recognition programs should be held to honor consistent top performers. The company

should also make sure that the employees are not too stressed and arrange for regular

relaxation games and may be an annual relaxation trip in order to boost employee morale

and foster better workplace relations.

RELATIONS WITH PEERS AND MANAGERS:

An employee has to build a good rapport with not only his/her peers but also

his/her manager. The manager should be approachable and should treat all employees

fairly. A good relation with peers and managers would create a more productive and

effective workforce.

4.1.3 EFFECTIVENESS

The ability of an employee to perform his/her job in a way that meets expectations

and requirements of co-workers, superiors and the organization. Effectiveness of a

employee can be measured on three levels – one’s own goals, manager’s expectations and

organization’s expectations.

MY GOALS:

This is connected to how best the employee thinks he/she has performed his /her

job and whether he/she is able to achieve his/her targets on time.

MANAGER’S EXPECTATIONS:

When the manager appreciates the employee when he/she achieves targets and

recognizes consistent top performers, an employee can be sure that he/she has met the

manager’s expectations.

ORGANIZATION’S EXPECTATIONS:

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When an employee has a clear understanding of his/her role in the organization

and how his/ her job contributes to the overall mission and vision of the organization, he/

she has fulfilled the expectations of the organization.

A questionnaire consisting of 26 closed ended questions, as shown in Table

A1(Refer Annexure) was designed that measures employee engagement through the three

factor model described above.

CHAPTER 5

DATA ANALYSIS AND RESULTS

5.1. METHODOLOGY:

20

The questionnaire as shown in Table A1(refer Annexure), was administered to a

sample of 100 frontline sales managers from all over Tamil Nadu through telephonic

conversation. Of the 100 respondents, 10 were new recruits with less than one month of

work experience. The respondents were also asked for three suggestions, which they

thought held importance, to improve job satisfaction at Bajaj Allianz.

5.2. ANALYSIS:

SAMPLE DISTRIBUTION: Of the 90 sales managers considered for analysis, Fig 5.2.1

shows the distribution based on their level of experience and gender.

Figure 5.2.1 Distribution - Gender, Work Exp

It has been identified as seen in Fig. 5.2.2 that 19% fall under the “engaged”

category, 68% under the “not engaged” category and 13% under the “actively

disengaged” category.

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Figure 5.2.2 Level of Engagement

DRIVER ANALYSIS:

i. MOTIVATION:

On analysis of the responses received from the sales managers, it was found that

73% felt that their basic needs were met, 78 % intermediate and 76% advanced needs.18

sales managers (20%) out of 90 felt that all of their motivational needs (ie. BASIC,

INTERMEDIATE and ADVANCED) have been met in the organization.

From Fig 5.2.3a it is seen that BASIC needs fulfillment has a lower score. Any

organization should make sure that the BASIC needs of its employees are met before

proceeding to the next level.

22

Figure 5.2.3a Analysis – Motivation

If BASIC needs are left unmet or unfulfilled, employees could become dissatisfied

with the job and the company. Looking at the BASIC needs more in detail as shown in

Fig A2i and ii (refer Annexure), it has been found that sales managers who had served for

more than 3 years with the company felt that there were not enough resources and also

not enough incentives for achieving sales targets.

ii. SATISFACTION:

On analysis of the responses received from the sales managers, it was found that

sales managers are not satisfied first with pay and benefits and second, with training.

From Fig.A3i (refer Annexure), sales managers across all levels of work

experience are unanimously dissatisfied with the company’s lack of arrangement for any

relaxation activities. From Fig.A3ii (refer Annexure), it is seen that though training was

given, the effectiveness of such training has to be improved (only 69% felt comfortable

doing their job after such training). Table A2 (refer Annexure) indicates that the

willingness to stay with the organization reduces with the level of work experience.

23

Figure 5.2.3b Analysis - Satisfaction

iii. EFFECTIVENESS:

From Fig 5.2.3c, it is evident that sales managers are performing their jobs in ways

that meet their own expectations, that of the branch manager and that of the organization.

Figure 5.2.3c Analysis - Effectiveness

24

CHAPTER 6

RECOMMENDATIONS AND CONCLUSION

From the analysis, the major problem areas have been identified. In the motivation

factor, sales managers felt that they were not enough resources and information such as

brochures for selling policies to customers and there were not enough incentives for

achieving sales targets. Suggestions for the short term would be to have regular

presentations and activities on motivation to make sales managers feel that their work is

valued by the organization. Since majority of the unfavorable responses were obtained

from sales managers who had served the company for more than three years, such

motivational activities have to be targeted on them.

In the satisfaction factor, sales managers felt that there were no relaxation

activities to reduce the stress of their job. Suggestions for the short term would be to have

some games and activities that would foster team spirit (indoor games like cards and

carom) and kindle creativity. For the long term, the organization could organize a short

annual trip for the sales managers and their families to a nearby tourist spot. Such

measures would keep them satisfied and keep them motivated to work whole-heartedly.

Sales managers also felt that though induction training was given, the effectiveness of

such training had to be improved as it was monotonous and scheduled over a short

period. Sales managers felt that they did not have the time to grasp the content of the

training. Training should be given on a regular basis about new products and updates in

the policies. Apart from this training on communication skills, presentation skills and

personal development have to be organized to enable sales managers to grow with the

organization.

Thus, in order to have a more productive and loyal workforce, the organization

should make sure that its employees work with passion and remain engaged.

25

ANNEXURE

Table A1: Questionnaire to measure employee engagement at the sales manager level

Gender: Branch / City:

Age: Experience:

Please mark a tick ( ) against your response

S.No Questions Strongly

agree

Agree Neutral No

1. I have information and other resources

necessary to sell policies to customers

2. I talk to my branch manager EVERYDAY

3. There are people at work who care about

me as a person

4. I felt comfortable doing my work after my

first few months here

5. I know the sales targets of my company

6. I ALWAYS get incentives if I meet sales

targets

7. My branch manager treats everyone equally

8. I have told my branch manager the

difficulties/pressures I face in work

9. I know what are the career opportunities

available for me within my company

10. My branch manager appreciates me when I

meet sales targets

11. I am able to come to work DAILY on time

12. I would recommend my company to a

friend/ relative who is looking for a job

26

13. I get angry if somebody disturbs me when I

am doing my job

14. When I joined this company, I was given

guidance on how to do my job

15. My coworkers and I mostly talk about our

job and what needs to be done to be more

effective

16. Even if another company offers me a better

job, I will stay with my company

17. My branch manager has taken steps to

resolve problems that I face

18. I USUALLY make my own decisions

while doing my work

19. I feel I have performed my job to the best

of my abilities, here

20. My branch manager recognizes top

performers

21. I am able to meet sales targets on time

22. I am willing to work overtime

23. I understand how my work contributes to

the overall mission and goals of the

organization

24. My branch manager is approachable

25. I have gone on one or more leisure

trips/outings with people from work, in the

past year

26. I want to contribute to my organization’s

success by working more

27

Choose the item that would most improve your job satisfaction. (Select any THREE and give the order of

preference 1-high, 2-medium, 3-low)

a)More challenging work e) More rewards/ recognitions

b) More incentives f) More say in how my work gets

done

c)Greater clarity about my own work

preferences and career goals

g)A better relationship with my

manager

d) Greater clarity about what the

organization needs me to do –and why

h)Career development

opportunities and training

Table A2: Correlation between willingness to stay with the organization and level of work experience

Staying * Experience Crosstabulation

Experience

Total1 2 3 4 5 6 7

Staying Disagree Count 1 0 0 1 1 1 0 4

% within Experience 9.1% .0% .0% 5.6% 5.9% 5.9% .0% 4.4%

Neutral Count 0 2 3 2 1 2 0 10

% within Experience .0% 18.2% 20.0% 11.1% 5.9% 11.8% .0% 11.1%

Agree Count 3 2 1 3 3 3 0 15

% within Experience 27.3% 18.2% 6.7% 16.7% 17.6% 17.6% .0% 16.7%

Strongly

agree

Count 7 7 11 12 12 11 1 61

% within Experience 63.6% 63.6% 73.3% 66.7% 70.6% 64.7% 100.0% 67.8%

Total Count 11 11 15 18 17 17 1 90

% within Experience 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

28

Figure A1i MOTIVATION - BASIC needs

Figure A1ii MOTIVATION - INTERMEDIATE needs

Figure A1iii MOTIVATION - ADVANCED needs

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Figure A2i I have information and other resources necessary to sell policies to customers

Figure A2ii I always get incentives if I meet sales targets

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Figure A3i Satisfaction with benefits

Figure A3ii Satisfaction with Training

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GLOSSARY

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IRDA Insurance Regulatory Development Authority

NAV Net Asset Value

ULIPs Unit Linked Insurance Products

CFU Customer Focus Unit

IVR Interactive Voice Response

LIC Life Insurance Corporation

BFS Bajaj FinServ

BIBLIOGRAPHY

1. Bajaj Allianz Life Insurance Company Ltd, http://www.bajajallianz.com/

2. “Employee Engagement Strategy – A strategy of analysis to move from employee

satisfaction to engagement”, Accord Management Systems (2004).

3. Tracy M. Maylett, Juan M. Riboldi, “The three essential components of Employee

Engagement”, DecisionWise Leadership Intelligence Whitepaper (2008).

4. Nitin Vazirani, “Employee Engagement”, SIES College of Management Studies

Working Paper Series (2005).

5. Richard S. Wellins, Paul Bernthal, Mark Phelps, “Employee Engagement - the key

to realizing competitive advantage”, Development Dimensions International

(2004).

6. Nancy R. Lockwood, “Leveraging Employee Engagement for Competitive

advantage”, SHRM Research (2007).

7. “Measuring Employee Engagement”, http:// www.citehr.com /

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