final project neeru

8/7/2019 Final Project Neeru

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A

FINAL PROJECT REPORT

ON

JOB SATISFACTION

UNDER TAKEN AT

HDFC LIFE INSURANCE COMPANY LTD.

MOHALI

Submitted to Punjab Technical University, Jalandhar in partial fulfillment of

the requirements for the degree of

Master of Business Administration

(Session 2009-2011)

Submitted by:

Savita Gupta

MBA 4th semester

Roll No. 90822265954

SWAMI VIVEKANAND INSTITUTE OF ENGINEERING &

TECHNOLOGY

ACKNOWLEDGEMENT


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Sometimes words fall short to show gratitude, the same happened with me this project.

The immense help and support received from HDFC Life Insurance overwhelmed me

during the project. It is a great opportunity for me to work with HDFC Life Insurance,

pioneers in the field of stock trading, a part of HDFC Group.

I am extremely grateful to the entire team of HDFC Life Insurance at Mohali, who haveshared their expertise and knowledge with me and without whom the completion of thisproject would have been virtually impossible.

I extend my sincere thanks to all the staff members of HDFC Life Insurance for

providing a very hospitable and helpful work environment and making my summer

training an exciting and memorable event.

I also acknowledge heartfelt gratitude for all those people who have made available tons

of information required for our Project.

Finally, I would like to give my special thanks to Ms. Simpy my project guider for the

valuable time and knowledge provided by her for completion of my project.

Savita Gupta


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DECLARATION

I, Savita Gupta here by declare that the project entitled JOB

SATISFACTION assigned to me by HDFC LIFE INSURANCECOMPANY LTD, during my 8 weeks training for the partial

fulfillment of MBA is the original work done by me and the

information provided in the study is authentic to the best of my

knowledge.

This study has not been submitted to any other institution or

university for the award of any other degree.

SAVITA GUPTA


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EXECUTIVE

SUMMARY


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EXECUTIVE SUMMARY

This internship report consists of the overall experience of online working as a part of

HDFC Life Insurance Co. Ltd. This experience helped me understand the basic

functioning of the organization where I was inducted.

My Internship program - Project Title: Job Satisfaction of HDFC SLIC.

The best learning experience was that I started from the very basics of getting to that

position and not from the position itself. This helped me get useful insight and

understanding of online marketing, the benefits to the members as well as the HDFC

Life Insurance Company.

Training sessions were held to give me insights about How to create markets and write

comments on other members markets and to encourage and appreciate them for their

nice efforts and creative markets.

I also learnt how to work online for such a nice company HDFC Life Insurance Co. Ltd

which enhanced my knowledge, writing skills and communication.


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TABLE OF CONTENT

S.NO CONTENTS

1 INTRODUCTION 1

2 COMPANY PROFILE 1

3 JOB SATISFACTION 12

4 RESEARCH AND METHEDO LOGY 20

5

LIMITATION OF THE STUDY23

6 OBJECTIVE OF THE STUDY 24

7 DATA ANALYSIS AND INTERPRETATION 25

8 CONCLUSION 63

9 SUGGESTION 65

10 BIBLOGRAPHY 66

11 QUESTIONNAIRE 67


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CHAPTER-1

INTRODUCTION


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COMPANY PROFILE

HDFC PROFILE:

HDFC life insurance ltd is a joint venture company of HDFC bank and Life.HDFC

Life Insurance is a 74:26 joint venture between HDFC Bank Ltd. and Life. HDFC Life

Insurance is one of the fastest growing insurance companies in India and has shown

remarkable growth since its inception in 2000.

HDFC

is one of the India s leading institutions, offering complete financial solutions that

encompass every sphere of life. From commercial banking to stock broking, to mutual

funds, to life insurance, to investment banking, the group to the financial needs of

individuals and corporate.

The group has a personal worth of Rs.100000 crore and employees in its various

businesses with presence in 216 cities in India and offices in New York, London, Dubai

and Mauritius, it services a customer base over 1400000.

HDFC enjoys leadership position in most of the businesses including stock broking,

investment banking and retail lending. With a brand slogan of CUSTOMER

SATISFACTION , HDFC enjoys a particularly strong franchise in the arena of

investment and capital markets. HDFC is also known for the values of trust, integrity and

financial prudence with which entire business and franchise is developed .Not only they

are the one of the most preferred company to do business with, they are also one of the

most preferred employers in the financial services industry.

LIFE


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Life

UK;

Life Insurance Company is one of the most trusted Insurance Companies

worldwide based at Edinburgh, Scotland (UK). Founded in 1825, Currently over 7

million Customers worldwide, operation in all the important markets of the world

like Austria, Canada, China, Germany, Spain, Hong Kong, Ireland and India

through its network.

Life listed on 10th July 2006, the biggest float on the London Stock Exchange in

the last five years.

Life Insurance Co. is the largest mutual insurance company in Europe.

Providing range of saving, pension, and protection and investment products.

As at December 2006, Life Financial Strength has total Assets under

management UK 125 billion (more than Rs. 10, 46, 979 or INR 10, 469,

791,000,000 cores.)

Life Group Companies:


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Life Investment manages assets for the group as well as third parties, and has a

record of strong investment performance.

Life Healthcare is one of the largest private medical insurance providers in the

UK.

Life Bank offers a range of mortgages and savings products, and had mortgage

book of 10.6 billion as at 31st December 2005.

INR 819.69 billion or 81, 969 cores.

Life has used its broad and well-established U.K. base to create a multinational business

and is building businesses in the US and Europe that focus on sectors of the market with

good fundamentals and where its skills can add value. As at 31 December 2005, 72% of

funds under management are in the United States; 24% in South Africa and 4% in United

Kingdom.

On the embedded value bases the geographic split is 66% Africa, 25% the US and 9%

rest of world.

HISTORY


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HDFC Life Insurance Company Limited Partnership :

26.00% 74.00%

HDFC Life first came together for a possible joint venture, to enter the Life Insurance

market, in January 1995. It was clear from the outset that both companies shared similar

values and beliefs and a strong relationship quickly formed. In October 1995 the

companies signed a 3 year joint venture agreement.

Around this time Life purchased a 5% stake in HDFC, further strengthening the

relationship.

The next three years were filled with uncertainty, due to changes in government and

ongoing delays in getting the IRDA (Insurance Regulatory and Development authority)

Act passed in parliament. Despite this both companies remained firmly committed to the

venture.

In October 1998, the joint venture agreement was renewed and additional resource made

available. Around this time Life purchased 2% of Infrastructure Development Finance

Company Ltd. (IDFC). Life also started to use the services of the HDFC Treasury

department to advise them upon their investments in India.

Towards the end of 1999, the opening of the market looked very promising and bothcompanies agreed the time was right to move the operation to the next level. Therefore,

in January 2000 an expert team from the UK joined a hand picked team from HDFC to

form the core project team, based in Mumbai.


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Around this time Life purchased a further 5% stake in HDFC and a 5% stake in HDFC

Bank.

In a further development Life agreed to participate in the Asset Management Company

promoted by HDFC to enter the mutual fund market. The Mutual Fund was launched on

20th July 2000.

Incorporation of HDFC Life Insurance Company Limited:

The company was incorporated on 14th August 2000 under the name of HDFC Life

insurance company limited.

Their ambition from the beginning was to be the first private company to re-enter the lifeinsurance market in India. On the 23rd of October 2000, this ambition was realised when

HDFC Life was the first life company to be granted a certificate of registration.

HDFC are the main shareholders in HDFC Life, with 81.4%, while Life owns 18.6%.

Given Life's existing investment in the HDFC Group, this is the maximum investment

allowed under current regulations. HDFC and Life have a long and close relationship

built upon shared values and trust. The ambition of HDFC Life is to mirror the success

of the parent companies and be the yardstick by which all other insurance companies in

India are measured


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AWARDS AND ACCOLADES:

Awarded the Economic Times Corporate Citizen award in 2004.

Presented Dream Home award for the biggest housing finance provider

in 2004.

HDFC Ranked as Indias Third Best Managed Company by Finance Asia 2005.

HDEC won the Best award for Investment Management in India at the Euro

money 2006 Real Estate Awards.

Best Home Loan Provider title at the ZEE Pinnacle Awards 2006.

Best Strategy, at the 4Ps Business, Marketing &Advertising Power

Awards 2006.

Dun & Bradstreet American Express Corporate Award 2006.

Sar Utha Ke Jiyo Among Indias 60 Glorious Advertising Moments January,

2008.

Received 2008 CIO Bold 100 and CIO Security Awards.

Received PCQuest Best IT Implementation Award May, 2008.

Unit Linked Savings Plan Tops Mint Best TV Ads Survey March, 2008.


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HDFC Group Companies:

Other Companies:

HDFC Property Ventures Ltd

HDFC Developers Ltd.

GRUH Finance Ltd.

HDFC Ventures Trustee Company Ltd.

HDFC Trustee Company Ltd

HDFC Investments Ltd

HDFC Holdings Ltd

Credit Information Bureau (India) Ltd

HDFC Securities


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Career:

HDFC Bank is a dynamic bank; with a youthful and enthusiastic team determine to

accomplish the vision of becoming a world-class Indian bank. Our business philosophy is

based on four core values Customer Focus, Operational Excellence, Product Leadership

and People. We believe that the ultimate identity and success of our bank will reside in

the exceptional quality of our people and their extraordinary efforts. For this reason, we

are committed to hiring, developing, motivating, and retaining the best people in the

industry

Mission and Business Strategy:

Our mission is to be a World-Class Indian Bank, benchmarking ourselves against

international s and be practices in terms of product offerings, technology, service level,

risk management and audit and compliance. The objective is to build sound customer

franchises across distinct business so as to be a preferred provide of banking service for

target retail and wholesale customer segment, and to achieve a healthy growth in

probability, consistent with the Banks risk appetite. We are committed to do this while

ensuring the highest levels of ethical s, professional integrity, corporate governance and

regulatory compliance.

Our business strategy emphasizes the following:

Focus on high earnings growth with low volatility.

Maintain our current s for asset quality through disciplined credit risk

management.

Continue to develop products and service that reduces our cost of founds.


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Develop innovative product and services that attract our targeted customers and

address inefficiencies in the Indian financial sector.

Leverage our technology platform and open scaleable systems to deliver more

products to more customers and to control operating costs

VISION STATEMENT

The Global Indian Financial services brand: Their customers will enjoy the

benefits of dealing with a global Indian brand that understands their needs and

delivers customized pragmatic solutions across multiple platforms. They will be a

world class Indian financial service group. Their technology and best practices

will be benchmarked along international lines while their understanding of

customers will be uniquely Indian. They will be more than a repository of their

customers savings. They, the group, will be a single window to every financial

service in a customers universe.

The most preferred employer in financial services: A culture of empowerment

and a spirit of enterprise attract bright minds with an entrepreneurial streak to join

us and stay with us. Working with a home grown professionally managed

company, which has partnerships with international leaders, gives their people a

perspective that is universal as well as unique.

The most trusted financial services company: They will create an ethos of trust

across all their constituents. Adhering to high s of compliance and corporate

governance will be an integral part of building trust.


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Value creation: Value creation rather than size alone will be business driver.

Diversified product portfolio:

HDFC Lifes wide and diversified product portfolio help individuals meet their various

need, be it:

Protection: Need for a sound income protection in case of your unfortunate

demise

Investment:Need to ensure long term real growth of your money

Savings: Save for the milestones and protect your savings too

Pension: Need to save for a Self Respectable and comfortable life at Retirement

Stage

Health: Cover for health related exigencies


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INTRODUCTION

TO

JOB SATISFACTION


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INTRODUCTION TO JOB SATISFACTION

It had often been said that A HAPPY EMPLOYEE IS A PRODUCTIVE

EMPLOYEE. A happy employee is, generally, that employee who is satisfied with his

job. Job satisfaction is very important because most of the people spend a major portion

of their life at their working place. Job satisfaction has its impact on the general life of

the employees also, because a satisfied employee is a contented and happy human

being. A highly satisfied worker has better physical and mental well being.

DEFINITION:

In simple words, Job satisfaction can be defined as the extent of possible feelings or

attitudes that individuals have towards their jobs. When a person says that he has high

job satisfaction, it means that he really likes his job,feels good about it and values his

job highly.

According to E.A.Locke, Job satisfaction is a pleasurable or positive emotional state

resulting from the appraisal of ones job or job experience.


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According to Andrew Brin, Job satisfaction is the amount of pleasure or contentment

associated with a job. If you like your job intensely, you will experience high job

satisfaction. If you dislike your job intensely, you will experience job dissatisfaction.

According to Keith Davis and Newstrom, Job satisfaction is the set of favourable or

unfavourable feelings with which employees view their work.

Job satisfaction is a result of employees perception of how well their job provides

those things which are viewed as important. In the organizational field, job satisfaction

is considered the most important and frequently studied attitude. We can see the

satisfaction of employees from work rules, lunch breaks, rights, wages, incentives,

bonus, opportunities, etc.


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FACTORS INFLUENCING JOB SATISFACTION

1. ORGANISATIONAL FACTORS

(A) SALARIES AND WAGES:

Wages and Salaries play a significant role in influencing job satisfaction. Money is an

important instrument in fulfilling ones needs. It is a symbol of achievements of the

employee who wants a pay system which is simple, fair and in line with their

expectations.

(B) PROMOTION SCHEMES:

Promotional schemes considerably affect the job satisfaction because it indicates an

employees worth to the organization which is highly morale boosting. Employee takes

promotion as the ultimate achievement in their career. Il also leads to more salary, less

supervision, increased status and freedom.

(C) COMPANY POLICIES:

Policies can generate positive or negative feelings towards the organization.


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Democratic organization structure with liberal and fair policies usually result in more

job satisfaction as compared to strict policies.

2. WORK ENVIRONMENTAL FACTORS

(A) SUPERVISION:

Whenever supervisor is friendly and supportive of workers, there is job satisfaction and

a supervisor who allows their subordinates to participate in decisions that affect their

jobs, it also helps in creating an environment which is highly conducive to job

satisfaction.

(B) WORK GROUPS:

A friendly and co-operative work group provides an opportunity to group members to

interact with each other. It serves as a source of support, comfort, advice andassistance

to individual group members.

WORKING CONDITIONS:

The people desire that their should be clean and healthy working environment, proper

ventilation, adequate temperatue, proper lightening, cleanliness of work place, adequate

tools and equipments,etc. are the factors which affects job satisfaction.


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3. WORK ITSELF

The content of the work itself plays a major role in determining the level of job

satisfaction. The factors like job scope, variety, autonomy and freedom, role

ambiguity and role conflict, etc. are the factors influencing job satisfaction.

1. PERSONAL FACTORS

(A) AGE:

With age, people become more mature and realistic and less idealistic so they are

willing to accept available resources and rewards and be satisfied about the situation.

(B) SENIORITY:

With the passage of time, people move into more challenging and responsible

positions. People who do not move up at all with time are more likely to be

dissatisfied with their jobs.

TENURE:

Employee with longer tenure are expected to be highly satisfied with their job. Tenure

assures job security, which leads to high satisfaction among employees.

(D) PERSONALITY:

Some of personality traits which are directly related to job satisfaction are self

esteem, maturity, decisiveness, sense of autonomy, challenge and responsibility.


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CONSEQUENCES OF JOB SATISFACTION

1. PHYSICAL AND MENTAL HEALTH

The degree of job satisfaction effects an individual physical and mental health.Since,

job satisfaction is type of mental feelings, its favorableness or unfavorableness effects

the individuals psychologically which ultimately effects his physical health and mental

health.

2.PRODUCTIVITY

When job satisfaction increases, productivity increases and when job satisfaction

decreases, productivity decreases. The basic logic behind this that a happy worker will

put more efforts for job performance.

3.ABSENTEEISM

It refers to the frequency of absence of job holder from work place either unexcused

absence due to some avoidable reasons or long absence due to unavoidable reasons.

This absence is due to lack of satisfaction from the job.

4. TURNOVER

Turnover of employees is the rate at which employee leave the organization within a

given period of time. When an individual feels dissatisfied, he tries to overcome this

through various ways. If he is not able to do so, he opts to leave an organization. High

employee turnover is a matter of concern for the management as it disrupts the normal

operations and continous replacement of employees who leave an organization is costly

and technically undesirable.


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5. UNION ACTIVITIES

It has been proved that satisfied employees are generally not interested in unions and

they dont perceive them as neccesary. Low level of dissatisfaction result in grievances

while higher level of dissatisfaction will result in employee strikes.

6. SAFETY

When people are dissatisfied with their jobs, company and supervisors, they are more

prone to experience accidents. The underlying reason for this is that dissatisfaction

takes ones attention away from the task at hand and leads directly to accidents. Thus,

Studying Job Satisfaction is very important for an organisation.


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CHAPTER-2

RESEARCH METHODOLOGY

Research methodology is the way to systematically solve the research problems.The

scope of research methodology is wider that that of research methods. When we talk of

research methodology, we not only talk of research methods but also configure the logic

behind the methods we use in the context of our research study and explain why we use

these so that research are cabable of being evaluated either by researcher himself or by

others.

2.2 DATA COLLECTION AND ITS ANALYSIS

2.2.1 SOURCES OF DATA

PRIMARY DATA

Primary Data is the one which is collected first time personally by the researcher.It is

generated when a particular problem at hand is personally investigated by researcher

employing personal survey or interviews, mail questionnaire, telephone survey,

observations etc.In my research, primary data is collected by personal survey with the

help of questionnaire.

Methods of Primary Data:

Observation Method

Interview Method

Collection of Data trough Questionnaire


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Collection of Data through Schedules

SECONDARY DATA

Secondary data includes those data which are collected from some earlier research work

and are applicable in the study the researcher has presently undertaken. In my research,

secondary data incudes company manual or profile and different academic books.

Sources of Secondary Data: Books, Magazines, Newspapers, Publications of central,

State and Local Governments, Technical and Trade Journals, etc.

2.2.2 DATA COLLECTION METHOD

To conduct the survey, the data was collected through questionnaire method. A

questionnaire was constructed and the workers were asked to fill the same.

2.2.3 DATA COLLECTION TECHNIQUES

Percentage method is used for the analysis of the data and pie-charts are used to present

the data.

2.3 SAMPLING DESIGN

A sample design is a definite plan for obtaining a sample from a given population. It

refers to the procedure the researcher would adopt in selecting items for the sample.

2.3.1 SAMPLING UNIT

The sampling unit includes , HDFC SLIC Ltd and different departments in it.

2.3.2 SAMPLING FRAME

Sampling frame for the research sample includes workers of HDFC SLIC, MOHALI


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2.3.3 SIZE OF SAMPLE

The size of sample for this research is 100 respondents.

2.3.4 SAMPLING TECHNIQUES

The technique used in the research is convenience sampling. It means that the sample is

selected as per the convienence of the researcher.

2.4 SCOPE OF THE STUDY

In order to accomplish the objectives of the project, I conducted a survey at HDFC

Life Insurance Company Ltd. The survey was restricted to the employee working in

HDFC Life Insurance Company Ltd, Mohali only.

2.5 LIMITATIONS OF THE STUDY

Due to the shortage of time, the size of the sample is small as it was not able to

reach all the employees.

There was shortage of time on the part of respondents.

Some respondents did not reveal the exact information and there response may

be biased.

Some of workers gave no response to some of the questions which affects

analysis.


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LIMITATIONS OF STUDY

Due to the shortage of time, the size of the sample is

small as it was not able to reach all the employees.

There was shortage of time on the part of respondents.

Some respondents did not reveal the exact information

and there response may be biased.

Some of employees gave no response to some of the

questions which affects analysis.


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OBJECTIVES OF THE STUDY

To find out the satisfaction level of the workers working in HDFC Life

Insurance Company Ltd.

To find out that to what extent the employees working in HDFC Life

Insurance Company Ltd.

To find out the reasons for unsatisfaction among employees.

To find out the solutions to the problems related to job satisfaction and to give

suggestions to enhance job satisfaction among employees.


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DATA ANALYSIS

ANDINTERPRETATION


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PERSONAL INFORMATION

3.1.1 GENDERTable no.3.1.1 represents %age of male and female employee

Gender No. of employees Percentage

Male 72 72%

Female 28 28%

Total 100 100%

Fig. 3.1.1 represents %age of male and female employee

This show that high %age of the employee are male.

3.1.2 AGE

Table no. 3.1.2 represents the age of employee

Age group No. of respondents Percentage

18-30 68 68%

30-40 24 24%

40-50 8 8%

50&above 0 0%

Total 100 100%

Fig. 3.1.2 represents the age of employee

This show that high %age of employee lie between the age-group of 18 30 years.


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3.1.3 QUALIFICATION

Table no. 3.1.3 represents the qualification of employee

Qualification No. of respondents Percentage

Uneducated 10 10%

Metric 55 55%

Graduation 5 5%

Any other 30 30%

Total 100 100%

Fig. 3.1.3 represents the qualification of employee

This show that high %age of employee lies in the category of metric.

3.1.4 EXPERIENCE

Table no. 3.1.4 represents the experience of employee

Experience (in years) No. of respondents Percentage

0-1 38 38%

1-5 22 22%

5-10 14 14%

10&above 26 26%

Total 100 100%

Fig. 3.1.4 represents the experience of employee


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This show that high %age of employee have an experience ranging from 0

1years.

3.1.5 MARITAL STATUS

Table no. 3.1.5 represents the marital status of employee

Marital status No. of employees Percentage

Married 48 48%

Unmarried 52 52%

Total 100 100%

Fig. 3.1.5 represents the marital status of employee

This shows that 48% of the employee are married and about 52 % are unmarried.

WORKRELATED FACTORS

3.2.1 WORKING CONDITIONS

Table no. 3.2.1 represents the satisfaction of employee from the WorkingConditions

Scale No. of respondents Percentage

Highly satisfied 28 28%

Satisfied 46 46%

Neutral 10 10%

Dissatisfied 8 8%

Highly dissatisfied 8 8%

Total 100 100%

Fig. 3.2.1 represents the satisfaction of employee from the Working Conditions


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This show that high %age of employee are satisfied with the Working Conditions.

3.2.2 TECHNOLOGY USED

Table no. 3.2.2 represents the satisfaction of employee from Technology used



Satisfied 56 56%

Neutral 4 4%

Dissatisfied 6 6%


Total 100 100%

Fig.3.2.2 represents the satisfaction of employee from Technology used

This show that high %age of employee are satisfied with the methods adopted and

the techniques used for doing work.

3.2.3 WORK RULES

Table no. 3.2.3 represents the satisfaction of employee from the work rules



Satisfied 40 40%

Neutral 10 10%

Dissatisfied 20 20%



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Total 100 100%

Fig. 3.2.3 represents the satisfaction of employee from the work rules

This show that 68% of employee are satisfied, 10% are neutral and 22% of

workers are dissatisfied as far as work rules are concerned.

3.2.4 AUTHORITY

Table no. 3.2.4 represents the satisfaction of employee from the authority

delegated to them for doing work



Satisfied 40 40%

Neutral 4 4%

Dissatisfied 6 6%


Total 100 100%

Fig. 3.2.4 represents the satisfaction of employee from the authority delegated to

them for doing work

This show that high %age of employee are satisfied with the authority delegated to

them for the purpose of doing work.

3.2.5 RESPONSIBILITY

Table no. 3.2.5 represents the satisfaction of employee from the responsibility

given to them



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Satisfied 50 50%

Neutral 6 6%

Dissatisfied 10 10%


Total 100 100%

Fig. 3.2.5 represents the satisfaction of employee from the responsibility given to

them

This show that high %age of employee are satisfied with the responsibilitydelegated to the for doing work.

ORGANISATION-RELATED FACTORS

3.3.1 PROMOTION SCHEMES

Table no. 3.3.1 represents the satisfaction of employee from the promotion

schemes



Satisfied 50 50%

Neutral 12 12%

Dissatisfied 16 16%


Total 100 100%

Fig. 3.3.1 represents the satisfaction of employee from promotion schemes

This show that 70% of the employee are satisfied, 12% are neutral and 18% of the

workers are dissatisfied with the promotion schemes.


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3.3.2 TRANSFER SCHEMES

Table no. 3.3.2 represents the satisfaction of employee from transfer schemes



Satisfied 44 44%

Neutral 14 14%

Dissatisfied 14 14%


Total 100 100%

Fig. 3.3.2 represents the satisfaction of employee from transfer schemes

This show that 66% of the employee are satisfied,14% are neutral and 20% are

dissatisfied with the transfer schemes.

3.3.3 JOB SECURITY

Table no. 3.3.3 represents the satisfaction of employee from job security



Satisfied 38 38%

Neutral 10 10%

Dissatisfied 14 14%


Total 100 100%

Fig. 3.3.3 represents the satisfaction of employee from job security

This show that 72% of the employee are satisfied, 10% are neutral and 18% are


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dissatisfied with the job security provided to them.

3.3.4 GROWTH AND DEVELOPMENT OPPORTUNITIES

Table no. 3.3.4 represents the satisfaction of employee from growth and

development opportunities available to them



Satisfied 44 44%

Neutral 12 12%

Dissatisfied 10 10%


Total 100 100%

Fig. 3.3.4 represents the satisfaction of employee from growth and development

opportunities available to them

This show that high %age of employee are satisfied with growth and development

opportunities available to them.

SUPERIOR-SUBORDINATE RELATIONSHIP

3.4.1 MUTUAL DISCUSSION

Table no. 3.4.1 represents the satisfaction of employee from the mutual discussionwith

their superiors




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Satisfied 36 36%

Neutral 10 10%

Dissatisfied 24 24%


Total 100 100%

Fig. 3.4.1 represents the satisfaction of employee from the mutual discussion with

their

superiors


Dissatisfied with the mutual discussion with their superiors.

3.4.2 TEAM WORK

Table no. 3.4.2 represents the satisfaction of employee from the team work



Satisfied 36 36%

Neutral 10 10%

Dissatisfied 10 10%


Total 100 100%

Fig. 3.4.2 represents the satisfaction of employee from the team work

This show that high %age of employee are satisfied with the team work.

POLICIES AND GOALS


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3.5.1 CLARITY OF ORGANIZATIONAL POLICIES

Table no. 3.5.1 represents the satisfaction of employee with the clarity of

organizational

policies



Satisfied 38 38%

Neutral 10 10%

Dissatisfied 20 20%


Total 100 100%

Fig. 3.5.1 represents the satisfaction of employee with the clarity of organizational

Policies

This show that high %age of the employee are satisfied with the clarity of

organizational policies.

3.5.2 CLARITY OF ORGANIZATIONAL GOALS


organizational goals



Satisfied 34 34%

Neutral 28 28%

Dissatisfied 24 24%



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Total 100 100%

Fig. 3.5.2 represents the satisfaction of employee with the clarity of organizational

goals


dissatisfied with the clarity of organizational goals.

3.5.3 CLARITY OF INDIVIDUAL GOALS


individual goals



Satisfied 56 56%

Neutral 14 14%

Dissatisfied 10 10%


Total 100 100%

Fig. 3.5.3 represents the satisfaction of employee with the clarity of individual

goals

This show that high %age of the workers are satisfied with the clarity of individual

goals.

WELFARE

3.6.1 LUNCH OR TEA BREAKS

Table no. 3.6.1 represents the satisfaction of employee from lunch or tea breaks



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Satisfied 34 34%

Neutral 12 12%

Dissatisfied 20 20%


Total 100 100%

Fig. 3.6.1 represents the satisfaction of employee from lunch or tea breaks

This show that high %age of the employee are satisfied with the lunch or tea

breaks.3.6.2 REST HOURS

Table no. 3.6.2 represents the satisfaction of employee from rest hours



Satisfied 36 36%

Neutral 0 0%

Dissatisfied 20 20%


Total 100 100%

Fig. 3.6.2 represents the satisfaction of employee from rest hours

This show that high %age of the employee are satisfied with the rest hours.

3.6.3 MEDICAL FACILITIES

Table no. 3.6.3 represents the satisfaction of employee from medical facilities



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Satisfied 34 34%

Neutral 0 0%

Dissatisfied 10 10%


Total 100 100%

Fig. 3.6.3 represents the satisfaction of employee from medical facilities

This show that high %age of the employee are satisfied with the medical facilities

available to them.

3.6.4 LEAVE FACILITIES

Table no. 3.6.4 represents the satisfaction of employee from leave facilities



Satisfied 48 48%

Neutral 6 6%

Dissatisfied 12 12%


Total 100 100%

Fig. 3.6.4 represents the satisfaction of employee from leave facilities

This show that high %age of the employee are satisfied with the leave facilities.

3.6.5 SAFETY AND FIRE TRAINING

Table no. 3.6.5 represents the satisfaction of employee from safety and fire training


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Satisfied 40 40%

Neutral 4 4%

Dissatisfied 4 4%


Total 100 100%

Fig. 3.6.5 represents the satisfaction of employee from safety and fire training

This show that high %age of the employee are satisfied from safety and fire

training.

MOTIVATION

3.7.1 TRAINING AND DEVELOPMENT ACTIVITIES

Table no. 3.7.1 represents the satisfaction of employee from training and

development

activitiesScale No. of respondents Percentage


Satisfied 30 30%

Neutral 6 6%

Dissatisfied 14 14%


Total 100 100%

Fig. 3.7.1 represents the satisfaction of employee from training and development

activities


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This show that high %age of employee are satisfied from training and development

activities.

3.7.2 PERFORMANCE APPRAISAL SYSTEM

Table no. 3.7.2 represents the satisfaction of employee from performance appraisal

system



Satisfied 34 34%

Neutral 12 12%

Dissatisfied 12 12%


Total 100 100%

Fig. 3.7.2 represents the satisfaction of employee from performance appraisal

system

This show that high %age of employee are satisfied with performance appraisalsystem.

3.7.3 LONG SERVICE AWARDS

Table no. 3.7.3 represents the satisfaction of employee from long service awards



Satisfied 32 32%

Neutral 18 18%


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Dissatisfied 14 14%


Total 100 100%

Fig. 3.7.3 represents the satisfaction of employee from long service awards

This show that high %age of employee are satisfied from long service awards.

3.7.4 OCCASIONAL GIFTS

Table no. 3.7.4 represents the satisfaction of employee from occasional gifts given

to them



Satisfied 38 38%

Neutral 6 6%

Dissatisfied 16 16%


Total 100 100%

Fig. 3.7.4 represents the satisfaction of employee from occasional gifts given to

them

This show that high %age of employee are satisfied from occasional gifts given to

them.

3.7.5 REWARDS FOR PERFORMANCE

Table no. 3.7.5 represents the satisfaction of employee from rewards for

performance


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Satisfied 34 34%

Neutral 6 6%

Dissatisfied 12 12%


Total 100 100%

Fig.3.7.5 represents the satisfaction of employee from rewards for performance

This show that high %age of employee are satisfied from rewards for performance

given to them.

3.7.6 EMPLOYEE PARTICIPATION SCHEMES

Table no. 3.7.6 represents the %age of employee satisfied from employee

participation

schemes



Satisfied 22 22%

Neutral 8 8%

Dissatisfied 30 30%


Total 100 100%

Fig. 3.7.6 represents the %age of employee satisfied from employee participation

schemes



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dissatisfied with the employee participation schemes.

3.7.7 FREEDOM TO WORK

Table no. 3.7.7 represents the %age of employee satisfied from the freedom given

to them to do work



Satisfied 40 40%

Neutral 12 12%

Dissatisfied 14 14%


Total 100 100%

Fig. 3.7.7 represents the %age of employee satisfied from the freedom given to

them to do work

This show that high %age of employee are satisfied from the freedom given tothem to do work.

3.7.9 BONUS

Table no. 3.7.9 represents the satisfaction of employee from bonus schemes



Satisfied 58 58%

Neutral 8 8%


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Dissatisfied 6 6%


Total 100 100%

Fig. 3.7.9 represents the satisfaction of employee from bonus schemes

This show that high %age of employee are satisfied from bonus schemes.

3.7.10 INCENTIVES

Table no. 3.7.10 represents the satisfaction of employee from incentives given to

them



Satisfied 38 38%

Neutral 12 12%

Dissatisfied 20 20%


Total 100 100%

Fig. 3.7.10 represents the satisfaction of employee from incentives given to them

This show that 58% of the employee are satisfied,12% are neutral and 30% are

dissatisfied from incentives given to them.

3.7.11 GRIEVANCE HANDLING SYSTEM

Table no. 3.7.11 represents the satisfaction of employee from grievance handlingsystem




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Satisfied 36 36%

Neutral 8 8%

Dissatisfied 22 22%


Total 100 100%

Fig. 3.7.11 represents the satisfaction of employee from grievance handling system

This show that high %age of employee are satisfied from grievance handling

system.

3.8 WHETHER JOB GIVEN TO EMPLOYEESIS AS PER THEIR

3.8.1 QUALIFICATION

Table no. 3.8.1 represents the satisfaction of the employee regarding the matter that

whether the job given to them is as per their qualification or not


Yes 84 84%

No 16 16%

Total 100 100%

Fig. 3.8.1 represents the satisfaction of the employee regarding the matter that

whether the job given to them is as per their qualification or not

This show that high %age of employee are satisfied as to the matter that the job

given to them is as per their qualification.

3.8.2 EXPERIENCE


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Table no. 3.8.2 represents the satisfaction of the employee regarding the matter

that whether the job given to them is as per their experience or not


Yes 78 78%

No 22 22%

Total 100 100%


whether the job given to them is as per their experience or not


given to them is as per their experience.

3.8.3 AGE

Table no. 3.8.3 represents the satisfaction of the employee regarding the matter that

whether the job given to them is as per their age or not


Yes 74 74%

No 26 26%

Total 100 100%


whether the job given to them is as per their age or not


given to them is as per their age.

CONCLUSION


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1.The training strategy of an organization is really admirable, emphasizes students to

acquire more knowledge related to an industry and provides every vital information.

Students are treated as company guests.

2. Proper discipline is maintained among staff as well as trainees.

3. As we know that human resources are the biggest assets of an organization, so relying

upon this criteria, we can say that their satisfaction towards their job is very important

and if they are satisfied, they will work to the best of their ability which will contribute

towards the profitability of an organization. Hence, every organization should always

make sure that theiremployee are satisfied.

4. After finding the results of my research project, I conclude that large number of

employees are male, who have enough qualification and skills in their fields. Satisfaction

of employees from different aspects is in large quantity.

5. The management of HDFC SLIC is continuously taking measures to improve the

satisfactionlevel of workers but still there are many workers who are not satisfied, so the

company should necessarily take some steps to make them satisfied because it will

ultimately lead to the success of the company. The company should make amendments in

their various policies and should improve the wage and incentives structure as well so

that the employee should get more benefits and can feel satisfied from the company and

will give their best to the company.


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6. First aid facility is being provided to the employee within the company with two

doctors at their service.

7. There is great work overload on the workers.

8. Security officers are also there for the security of the employee.

9. Special emphasis is being laid on the safety measures by the company.

10. Good working conditions are provided to the workers.

SUGGESTIONS

Special measures should be taken to improve employee participation.

Seniors should respect the suggestions given to them by their subordinates.


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Interaction and mutual discussion should be given proper place in superior-

subordinate Relationship.

Wages of the employee must be linked to the productivity.

More monetary as well as non-monetary benefits should be given to the

employee to reduce labour turnover.

In order to motivate employees, their work must be appreciated and recognized so

that in future, they work with more zeal and enthusiasm.

More emphasis should be laid on the training provided to the employees as it is the

most effective HR practice used while motivating the employees.

A study of work load should be well organized so that there should not be

exccesive work load on the employees as it will adversely affect their productivity.

BIBLIOGRAPHY


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COMPANYS ANNUAL REPORT

PHILIP KOTLER-MARKETING MANAGEMENT

ASWATHAPPA-HUMAN RESOURCE MANAGEMENT

KOTHARI-BUSINESS RESEARCH METHODOLOGY

WEBSITES:

WWW.hdfclifeinsurance.in
http://www.hdfclifeinsurance.i/http://www.hdfclifeinsurance.i/


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QUESTIONNAIRE FOR SATISFACTION SURVEY

Dear Respondents,

We are MBA students of PTU. We want to get information for

fulfillment of our training needs and for the preparation of training reports.

Q1.Personal Information: Name (optional):

Code No. (optional):

Sex: Male Female

Age:

18-30

30-40

40-50

Above 50

Qualification:

Total Experience:

Marital Status: Married Unmarried


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Q2.How would you rate the following factors in respect to your organization onthe scale ranging from 1 to 5 ? Each point has 5 possible responses. Tick ( ) theresponse you feel most appropriate in your organization. Your free and frankresponse will be appreciated(1= highly satisfied, 2 = Satisfied, 3 = Neutral, 4 = Dissatisfied, 5 = highly

dissatisfied)

I) Work Related Factorsa) Working Conditions 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Technology used 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Work Rules 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Authority 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Responsibility 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

II) Organization Related Factors

Promotional Schemes 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Transfer Schemes 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Job security 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( ) Growth and development opportunities 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

III) SuperiorSubordinate Relationship

Mutual discussion 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Team Work 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Trust 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

IV) Policies And Goals

Clarity of organizational policies 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Clarity of organizational goals 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Clarity of Individual goals 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

V) Welfare

Lunch or tea breaks 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )


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Rest hours 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Medical facilities 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Leave facilities 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Safety and fire training 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

VI) Motivation

Training and development activities 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Performance appraisal system 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Long service awards 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Occasional gifts 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Rewards for performance 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Employee participation schemes 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Freedom to work 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Bonus 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Incentives 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Grievance handling system 1( ) 2 ( ) 3 ( ) 4 ( ) 5 ( )

Q3.Whether job given to you is as per youra) Qualification Yes No

b) Experience Yes No

c) Age Yes No

final project neeru

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