1870 Employees Satisfaction

7/31/2019 1870 Employees Satisfaction

1/73

A STUDY ON EMPLOYEES SATISFACTION IN

ICICI PRUDENTIAL LIFE INSURANCE IN CHENNAI

Project Report

Submitted to

UNIVERSITY OF MADRAS

In partial fulfillment of the requirement for the award of

MASTER OF BUSINESS ADMINISTRATION

Submitted by

Mr. P. SENTHILKUMAR

(Reg. No. RB 60819)

Under the guidance of

Mr. S. ARULKRISHNAN, M.Sc., M.B.A.

DEPARTMENT OF MANAGEMENT STUDIES

VEL SRI RANGA SANGU COLLEGE (ARTSAND SCIENCE)

(Approved by AICTE, New Delhi & Affiliated to University of Madras)Avadi, Chennai 600 062.

APRIL 2008


2/73

DECLARATION

This is to certify that the project work titled A STUDY ON EMPLOYEES

SATISFACTION IN ICICI PRUDENTIAL LIFE INSURANCE IN CHENNAI is

bonafide work done by me under the guidance ofMr. S. Arulkrishnan (Internal Guide).

P. SENTHILKUMARPlace: Chennai

Reg. No.RB60819Date :


3/73

ACKNOWLEDGEMENT

First and foremost I would like to give my wholehearted and sincere thanks to

the almighty god helping me throughout the project.

I like this opportunity to thank our principal Dr. R.K. Balasumbramaniyan

M.Sc. M.Phil., Ph.D., for encouraging me and supporting me towards the completion

of project.

I sincerely thank our head of the department Dr. K. Anand M.A., M.B.A.,

Ph.D., for this consistent encouragement and support while carrying out this work.

Its joy to work with my staffs that brings the out of student even in adverse

time it is a great joy and privilege to work with my faculty guide Mr. S. Arulkrishnan,

M.Sc., M.B.A., who gave his valuable guidance for completing this project.


4/73

LIST OF CONTENTS

CHAPTER TITLE Page No.

CHAPTER - 1 Introduction 1

Objectives 2

Scope 3

Limitations 4

Chapter 2 Company Profile 5

Chapter 3 Review of Literature 11

Chapter 4 Research methodology 13

Chapter 5 Data Analysis And Interpretation 20

Chapter 6 Findings 54

Chapter 7 Suggestion 55

Conclusion 56

Bibliography 57

Appendix 58


5/73

LIST OF TABLES

S.No. Particulars Page No

1. GENDER CLASSIFICATION 22

2. AGE CLASSIFICATION 24

3. YEARS OF EXPERIENCE 26

4. SALARY PACKAGE OF THE EMPLOYEES 28

5. SATISFACTION LEVEL OF CURRENT SALARY 30

6. CO OPERATION OF COLLEGUES 32

7. EMPLOYEES OPINION TOWARDS FIRST-AIDFACILITY

34

8. SATISFACTION LEVEL OF JOB SECURITY 36

9. SATISFACTION LEVEL ON PRESENT JOB 38

10. PREFERENCE ON SUPERVISION OF JOB 40

11. TREATING OF MANAGEMENT TOWARDSEMPLOYEES

42

12. EMPLOYEES OPINION ON INCREMENT 44

13. EMPLOYEES OPINION FOR OVERTIME PAYMENT 46

14. RESPONDENTS OPINION ON RETIREMENTBENEFITS

48

15. PREFERENCE FOR CHILDREN EDUCATIONFACILITY

50

16. REGARDING TO EMPLOYEES SATISFACITON 52


6/73

LIST OF CHARTS

S.No. Particulars Page No

1. GENDER CLASSIFICATION 23

2. AGE CLASSIFICATION 25

3. YEARS OF EXPERIENCE 27

4. SALARY PACKAGE OF THE EMPLOYEES 29

5. SATISFACTION LEVEL OF CURRENT SALARY 31

6. CO OPERATION OF COLLEGUES 33

7. EMPLOYEES OPINION TOWARDS FIRST-AIDFACILITY

35

8. SATISFACTION LEVEL OF JOB SECURITY 37

9. SATISFACTION LEVEL ON PRESENT JOB 39

10. PREFERENCE ON SUPERVISION OF JOB 41

11. TREATING OF MANAGEMENT TOWARDSEMPLOYEES

43

12. EMPLOYEES OPINION ON INCREMENT 45

13. EMPLOYEES OPINION FOR OVERTIME PAYMENT 47

14. RESPONDENTS OPINION ON RETIREMENTBENEFITS

49

15. PREFERENCE FOR CHILDREN EDUCATIONFACILITY

51

16. REGARDING TO EMPLOYEES SATISFACITON 53


7/73

CHAPTER I

INTRODUCTION


8/73

INTRODUCTION

Employees Satisfaction is the end feeling of a person after performing a

task. The relationship between man and work always attracted the attention of

philosophers, scientists and novelists the nature as area or study, as it occupies

much of mans life span.

The term employees satisfaction covers the satisfaction covers the

satisfaction derived from being engaged in work or in any pursuit of a higher order, it

is essentially related to human need and their fulfillment through work it is generated

by the individuals perception of how well his employer satisfies his various needs.

Here the employees are mostly base on welfare facilities. Welfare facilities can

be classified into two types that is intramural and extramural facility. The

management should provided both intramural and extramural facility for employees

satisfaction.

Intramural facilities are a facility, which is provided with in the organization that

is lighting, ventilation, water, air, toilet and etc.

Extramural facilities are facilities which provided outside of the organization

that housing, transport, educational training and development etc.

This study collects the data regarding promotional system, bonus, loans

facility, festival advance, leave facility transport facility etc. then based on data tables

are drawn. The percentage as a tool for analyzing the data wherever necessary

charts are drawn based on inference, finding, suggestion and conclusion are also

pointed out.


9/73

OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE

1) To study the employee satisfaction employed in ICICI prudential.

SECONDARY OBJECTIVES

1) To know the satisfaction level of employees on current job

2) To know the benefits provided by the organization to employees

3) To find out the relationship between employees and management

9


10/73

SCOPE OF THE STUDY

This study covers about employees satisfaction in ICICI Prudential Life

Insurance

The study helps to know about the Employee Management Relationship

The study provides to know several benefits like increments and overtime

payment.


11/73

LIMITATIONS OF THE STUDY

The time given was limited to 90 days and hence could not able to know about

the other departments.

The sample is limited only to 100 respondents.

During the working hours, it is very difficult to collect the datas from the

employees.

11


12/73

CHAPTER II

COMPANY PROFILE


13/73

COMPANY PROFILE

The Indian insurance industry was under state control with no private

participation till the late 1990s. it was virtually ruled by the LIC in the insurance

market and GIC and its four subsidiaries in the non insurance market. In the early

1990s, there was major shift in the macroeconomic policies of the Indian government

due to two major developments.

For the above reasons, the Indian government set up the " Malhotra

Committee" in 1993, to suggest reforms in the insurance industry. The committee

submitted its report in 1994, and its strongly recommended private participation in the

industry.

After prolonged discussions and debates, the insurance sector was opened up

in 1999, when IRDA bill was passed. As per the bill, the IRDA became the regulatory

authority for the insurance sector in India. It had the power to grant license to foreign

players to operate in India, and to formulate operational rules and regulations for

working of insurance companies. IRDA also prepared the guidelines for foreign

participation in the Indian insurance market. According to these guidelines, foreign

players were initially permitted to enter India through partnership ventures with a

partnership share of 26% or less, in both the life insurance and general insurance

business.

13


14/73

ICICI prudential Life Insurance Company is a joint venture between ICICI

Bank, a premier financial powerhouse and prudential PLC, a leading in4ernatio.al

financial services group headquartered in the United Kingdom, ICICI Prudential was

amongst the first private sector insurances companies to begin operations in

December 2000 after receiving approval from Insurance Regulatory Development

Authority (IRDA)

ICICI Prudential equity base stands at Rs 9.25 billion with ICICI Bank and

Prudential PLC holding 74% and 26% stake respectively. In the period April-

December 2004, the company garnered Rs 8.6 billion of new business premium for a

total sum assured of over Rs 73.6 billion and wrote nearly 345,000 policies. The

company has a network of over 50,000 advisors; as well as 7 bank assurance tie-

ups. Today, ICICI Prudential has emerged as the No.l private life insurer in the

country, with a wide range of flexible products that meet the needs of the Indian

customer at every step in life.

VISION

To make ICICI Prudential the dominant life and pensions player built on trust

by world- class people and service.

This we hope to achieve by:

Understanding the needs of customers and offering them superior products

and service

Leveraging technology to service customers quickly, efficiently and

conveniently


15/73

Developing and implementing superior risk management an investment

strategies to offer sustainable and stable returns to our policyholders

Providing an enabling environment to foster growth and learning for our

employees

And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5

Crore valuesIntegrity, Customer First, Boundary less, Ownership and passion.

Each of the values describe what the company stands for, the qualities of our people

and the way we work. We do believe that we are on the threshold of an exciting new

opportunity, where we can play a significant role in redefining and reshaping the

sector. Given the quality of our parentage and the commitment of our team, there are

no limits to our growth.

PROMOTERS

ICICI and Prudential came together in 1993 to form Prudential ICICI Assets

Management Company, which has today emerged as one of the leading mutual

funds in India. The two companies bring together two of the strongest financial

service brands in Asia, known for their professionalism, excellent quality of service

and long term commitment to YOU. Riding on the success of this relationship, the

two companies joined hands once more in 2000, to form ICICI prudential Life

Insurance, with a commitment to provide leading edge life insurance solution. ICICI

Bank has 74% stake in the company, and prudential PLC has 26%.

15


16/73

ICICI BANK

ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of

Rs 106812 crore. ICICI Bank provides a broad spectrum of financial services to

individuals and companies. This includes mortgages, car and personal loans, credit

and debit cards, corporate and agricultural finance. The Bank services a growing

customer base of more than 7 million customer accounts and 5 million bondholders

accounts through a multi-channel access network. This includes about 450 branches

and extension counters, 1675 ATM's, call centers and Internet banking

(www.icicibank.com). ICICI Bank posted a net profit of Rs 1,206 crore for the year-

ended march 31. 2003. ICICI Bank is the only Indian company to be rated above the

county rating by international rating agency moody's and the only Indian company to

be awarded an investment grade international credit rating. The Bank enjoys the

highest AAA (or equivalent) rating from all leading Indian rating agencies.

Prudential PLC

Established in 1848, Prudential PLC (Product Life Cycle) is a leading

international financial services company in the UK, with around US$250 billion funds

under management, and more than 16 million customers worldwide. Prudential has

brought to market an integrated range of financial services products that now

includes life assurance, pensions, mutual funds, banking, investment management

and general insurance. In Asia, Prudential is UK's largest life insurance company with

a vast network of 22 life. and mutual fund operations in twelve countries china,

Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore,

Taiwan, Thailand and Vietnam. Since 1923, Prudential has championed customer-

centric products and services, supported by over 60,000 staff and agents across the

region.


17/73

DISTRIBUTION

ICICI Prudential has one of the largest distribution networks amongst private

life insurers in India, having commenced operations in 69 cities and towns in India.

These are Agra, Ahmedabad, Ajmer, Allagabad, Arnristar, Aurangabad, Bangalore,

Bareilly, Bhatinda, Bhopal, Bhubhaneshwar, Calicut, Chandigarh, Chennai,

Coimbatore, Dehradun, Durgapur, Faridsabad, Goa, Guntur, Gurgaon, Guwahati,

Gwalior, Hyderabad, Hubli, Indore, Jaipur. Jalandhar, Jamnagar, Jamshedpur,

Judhpur, Kanpur, Karnal, Kochi, Kolkata, Kolhapur, Kota, Kotatamyam, Lucknow,

Ludhiana, Madurai, Mangalore.

Meerut, Mumbai, Mysore, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune,

Raipur, Rajkot, Ranchi, Rourkela, Salem, Siliguri, Surat, thane, Trichy. Trivandrum,

Udaipur, Vadora, Vapi, Varanasi, Vashi, Vijayawada and Vizag.

The company has seven bank assurance tie-ups, having agreements with

ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank and

some co-operative banks, as well as over 160 corporate agents and brokers. It has

also tied up with organizations like Dhan for distribution of Salaam Zindagi, a policy

for the socially and economically underprivileged sections of society. ICICI Prudential

has recruited and trained about 50,000 insurance advisors to interface with and

advise customers. Further, it leverages its state-of the art IT infrastructure to provide

superior quality of service to customers.

17


18/73

BOARD OF DIRECTORS

The ICICI Prudential Life Insurance Company Limited Board comprises

reputed people from the financial industry both from India and abroad.

Mr. K.V.Kamath, Chairman

Mr. Mark Norbom

Mrs. Lalita D. Gupte

Mrs. Kalpana Morparia

Mrs. Chanda Kochhar

Mr. Kevin Holmgren

Mr. M.P. Modi

Mr. R Narayanan

Ms. Shikha Sharma, Managing Director

Management team

Ms. Shikha Sharma, Managing Director

Mr. Sandeep Batra, Chief Financial Officer & Company Secretary

Mr. Shubhro J. Mitra, Chief Human Resources

Mr. Puneet Nanada, Head Investments

Ms. Anita Pai, Chief Customer Service and Operations

Mr. V. Rajagopalan, Appointed Actuary

Mr. Shridhar Sethutam, Chief Strategy

Mr. Dipan Bhattacharya Chief Information Technology


19/73

CHAPTER III

REVIEW OF LITERATURE


20/73

REVIEW OF LITERATURE

Insurance: Conceptual frame work

Since mans life is open to risk of various kinds and degrees, which involves

exposure to loses, the scheme for dealing with some of these risks have been

advised. This is known as insurance

Insurance, in law and business, is a contractual agreement that provides for

compensation by an insurer to an insured party for loss resulting from a possible

event. The insurer conducts its operations amazing relatively small contributions from

many persons who are exposed to the risk of occurrence of an unforeseen even in

order to create a fund that is used reimburse those insured who actually suffered

from such an occurrence. The contributions of the policy holders are called premium.

An insurance contract must of an element of contingency, that is, the event

insured against must be possible but not certain to occur in a given period of time

and must be substantially beyond the control of either insured or insurer. In addition

to the requirement that the risk be one who would suffer a material loss by the

happening of the event.

Different authors have defined the term insurance differently. Some of the

popular definitions are:

Dr. W. A. Diadle: Insurance is a device for the transfer of the risk of the individual

entries to an insurer, who agrees for a consideration (called premium), to assume to

a specified extend loses sufficient by the assured.


21/73

Prof.H.D. Hansell: A social device providing of financial compensation for the

efforts of misfortune, the payment being made for the accumulated contributions of

all participating the same.

The basic concept of insurance is simple. The policy holder pays a premium to

the insurer, who in turn return, promises to pay compensation, in the form of sum

insured, if the event insured against the happens. Premium paid by all policyholders

go in to a pool or fund run by the insurance company from which claims are paid.

The cost of insurance cover, no matter what being insured, will depend upon the risk

involved the greater the likelihood of a claim being made the higher the premium. So

the risk that each policyholder brings to the fund is reflected in the premium the pay.

21


22/73

CHAPTER IV

RESEARCH METHODOLOGY


23/73

RESEARCH METHODOLOGY

Research Design : Descriptive

Survey Technique : Non probability & Convenience sampling

Sample Area : Chennai.

Sample Size : 100

Data : Questionnaires

DATA COLLECTION METHODS

Primary data:

These are the information gathered from the respondents using

questionnaires. These are the information gathered for the specific purpose and do

not exist in any records or publications.

Therefore for the primary information the researcher had undergone fieldwork

for this particular study and has collected the intended information from the

customers.

Secondary data:

The secondary data refers to those, which have already gathered by some

person for some other person for some other purposes. And also from the company's

record. For this particular study the researcher has gathered information from the

company report ,business magazines and from internet.

23


24/73

SURVEY TECHNIQUE

Structure questionnaire:

The survey is done with the help of well-structured questionnaires for the

customers.

Research Design:

Research is the plan, structure and the strategy of investigation conceived so

as to obtain answers - to research question and to control the variance.

This definition consists of three important terms plan, structure and strategy. The

plan is the outline of the research scheme on which the researcher is to work. The

structure of the research is more specific outline and the strategy shows how the

research will be carried out, specifying the methods to be used in the collection and

analysis of data.

Research Design Types

The frequently used classification system in research is grouping under three

broad categories.

Descriptive research.

Exploratory research.

Casual research.

Descriptive Research:

Descriptive research is marked by prior formulations of specific research

questions. The investigator already knows a substantial amount about the research

problems before the project is initiated.


25/73

Exploratory Research:

This type of study is used to probe the existing problem. The major purposes

of exploratory research is to solve-the existing problems. The more precise

formulation problems and the formulation of new alternative course of action.

Causal Research:

This type of study aims or determining the causes involved to the problem.

From among the three above types of research design the researcher has

selected the descriptive research for carrying out the research.

Sampling Plan

While doing a research it might not be possible to interview all the customers

of insurance industry. There fore, the researcher has some method of selecting the

sample, which represents the universe selected for the survey. The sample should

have to resemble the universe chosen for the research both in terms of their

characteristics as well as location.

Sampling Methods

There are two main categories under which various sampling methods can be

put into.

Probability sampling.

Non-probability sampling.

25


26/73

Probability Sampling:

In this the sample are chosen in such a way that each member of the universe

has known chance to being selected. Probability sampling is classified into four

types.

Simple Random Sampling.

Stratified Sampling.

Cluster Sampling.

Systematic Sampling.

Simple Random Sampling:

In a simple sampling a selection tool frequently used with this design in the

table of random numbers.

Systematic Sampling:

In a systematic sampling the number are chosen in a systematic manner from

the entire population.

Stratified Sampling:

In a stratified sampling the universe are divided in to strata on the basis of

recognizable or measurable characteristics of its members i.e., age. income,

education etc.

Cluster Sampling:

In a cluster sampling the various units comprising the population are grouped

in cluster and the sample selection is made in such a way that each cluster has a

known of being selected.


27/73

Non-Probability Sampling:

Non-probability sampling is defined, as the type of sampling in which there

exists a chance of any particular unit in the population of being selected is unknown.

It is classified in to three types.

Judgement sampling.

Convenience sampling.

Quota sampling.

Judgement Sampling:

Person knowledge about the population under study chooses sample

members that the researcher feels would be most appropriate for the study.

Convenience Sampling:

In this method, the sample units are chosen primarily on the basis of the

researchers convenience.

Quota Sampling:

In quota sampling the method is similar to the one adopted in the stratified

sampling. The universe is divided in to strata on the basis of characteristics of the

population. The sample units are chosen so that each stratum represents proportion

to its importance in the population.

The researcher has used descriptive research, non probability sampling and

convenience sampling.

27


28/73

Questionnaire Design:

The researcher is motivated to construct a questionnaire, which he finds that

the information he needs is not in the secondary source.

Types of Questions:

After specifying the information needed, the researcher has decided the type

of the questions required to be asked from the respondents, to elicit this information.

Direct Questions

Direct questions are just what their name, age and sex are. They explicate for

the information desired.

Indirect Questions

Indirect question refers to those whose response are used or suggest the

information, other than the facts given in the answers, about the respondent. Open-

end questions

Open-end questions that has no fixed alternatives to which the answers must

conform. The respondent answers in his or her own words and at any length they

choose.

Closed End Questions

Close end question also has no fixed alternative question from which

respondent has to select the one that closely matches his opinion or attitude.

Dichotomous questions


29/73

A dichotomous question refers to one, which offers the respondent a choice

between only two alternatives. The fixed alternatives are of the type yes or no.

Multiple Questions

A multiple-choice question refers to one, which provides several sets of

alternatives for the respondent's choice.

Chi-Square Analysis

Chi Square is applied in statistics to test the significance of observed data with

theoretical distribution.

(O E)2

2 =E

Where

O = Observed frequencies

E = Expected frequencies

29


30/73

CHAPTER V

DATA ANALYSIS AND

INTERPRETATION


31/73

CHI-SQUARE

FORMULAE

(Row total for the row of that cell) x(Column total for the column of that cell)

1) Expected frequency =Grand Total

(Oi-E

i)2

2) Find the summation of =

Ei (total)

DIFFERENCE BETWEEN AGE GROUP AND FIRST AID FACILITY OF

EMPLOYEES.

H0 There will be no significant difference between age group and first-aid

facility of employees.

H1 There will be significant difference between age group and first-aid

facility of employees.

Chi Square Table 1

Age Group First aid Facility

Yes No Total

20 25 12 3 15

25 30 33 235

30 35 23 427

35 above 18 523

Total 100 100

100

100

31


32/73

Chi Square Table 2

O E (O- )2 / 100

12 12.900.062

33 30.10.279

23 23.22 0.002

18 19.78 0.159

3 2.1 0.385

2 4.9 1.716

4 3.780.012

5 3.21.012

E = 100 100

Degree of freedom = d = (c 1) (r 1)

= (2 1) (4 1)

= 1 x 3

= 3

Calculated value = 3.627

Tabulated Value = 7.21

Level of significance = 5%

Inference:

Since calculated value of Chi-Square is less than tabulated value. we accept

the Null hypothesis. Hence we conclude there is no significant relationship between

level of age group and first-aid facility.


33/73

TABLE 1

GENDER CLASSIFICATION

S.No. Gender No. of RespondentsPercentage of

Respondents

1. Male 84 84

2. Female 16 16

Total 100 100

Inference:

From the above table shows that the majorities of respondents 84%of the

employees to male category and 16% belongs to female category.

33


34/73

CHART 1

GENDER CLASSIFICATION

84

16

0

10

20

30

40

50

60

70

80

90

100

Male Female

Particulars

No.ofRespon

dents


35/73

TABLE 2

AGE CLASSIFICATION

S.No. Age No. of RespondentsPercentage of

Respondents

1. 20 25 15 15

2. 25 30 35 35

3. 30 35 27 27

4. 35 & Above 23 23

Total 100 100

Inference:

From the above table 15% of them belongs to 20 25 age, then 35% of them

belongs to 25 30 age, then 27% of them belongs to 30 35 age and 23% of them

belongs to 35 & above.

35


36/73


37/73

TABLE 3

YEARS OF EXPERIENCE

S.No. Response No. of RespondentsPercentage of

Respondents

1. 0 1 year 5 5

2. 1 3 years 1515

3. 3 5 years 4545

4. 5 7 years 1515

5. 7 years above 2020

Total 100 100

Inference:

From the above table 5% respondents belongs to 0 1 year experience, 15%

of them have 1 to 3 years of experience, 45% of them have 3 5 years of

experience, 15% respondents have 5 7 years of experience and 20% of

respondents have 7 and above years of experience.

37


38/73

CHART 3

YEARS OF EXPERIENCE

515

45

15

20

0

1020

30

40

50

60

70

80

90

100

0 1 year 1 3 years 3 5 years 5 7 years 7 years

above

Particulars

No

.ofRespondents


39/73

TABLE 4

SALARY PACKAGE OF THE EMPLOYEES

S.No. ResponseNo. ofRespondents

Percentage of

Respondents

1. 65,000 75,000 25 25

2. 75,000 1,00,000 55 55

3. 1,00,000 1,25,000

10 10

4. 1,25,000 andabove

10 10

Total 100 100

Inference:

From the above table 25% of respondents are getting 65,000 75,000 of

salary package, 55% of respondents are getting 75,000 1,00,000, 10% of

respondents are getting 1,00,000 1,25,000, and 10% of respondents are getting

1,25,000 and above of salary package per annum.

39


40/73

CHART 4

SALARY PACKAGE OF THE EMPLOYEES

25

55

10 10

0

10

20

30

40

50

60

70

80

90

100

65,000 75,000 75,000

1,00,000

1,00,000

1,25,000

1,25,000 and

aboveParticulars

No.ofRespondents


41/73

TABLE 5

SATISFACTION LEVEL OF CURRENT SALARY


Respondents

1. Highly satisfied 20 20

2. Satisfied 6363

3. Dis satisfied 1313

4. Highly dissatisfied 44

Total 100100

Inference:

From the above table 20% of respondents are highly satisfied with their

current salary, 63% of respondents are satisfied and 13% of respondents are

dissatisfied and 4% of respondents highly dissatisfied with their current salary.

41


42/73

CHART 5

SATISFACTION LEVEL OF CURRENT SALARY

20

63

13

4

0

10

20

30

40

50

60

70

80

90

100

Highly satisfied Satisfied Dis satisfied Highly

dissatisfied

Particulars

No.ofRespondents


43/73

TABLE 6

CO OPERATION OF COLLEGUES


Respondents

1. Yes 62 62

2. No 3838

Total 100 100

Inference:

From the above table 62% of respondents are saying yes their colleagues

are co-operative, 38% of respondents says No i.e. the colleagues are not co-

operate with them.

43


44/73

Chart 6

CO OPERATION OF COLLEGUES

62

38

Yes

No


45/73

TABLE 7

EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY


Respondents

1. Yes 86 86

2. No 1414

Total 100 100

Inference:

For the above it is clear the 86% respondents say Yes and 14% respondents

say No.

45


46/73

CHART 7

EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY

86

14

Yes

No


47/73

TABLE 8

SATISFACTION LEVEL OF JOB SECURITY

S.No. Response No. ofRespondents

Percentage ofRespondents


2. Satisfied 4343

3. Dissatisfied 2424

4. Highly

dissatisfied

1212

Total 100 100

Inference:

From the above table 21% of respondents are highly satisfied with the job

security, 43% of respondents are satisfied and 24% of respondents are dissatisfied

and 12% respondents are highly dissatisfied with the job security.

47


48/73

CHART 8

SATISFACTION LEVEL OF JOB SECURITY

21

43

2412

0

10

20

30

40

50

60

70

80

90

100

Highly satisfied Satisfied Dissatisfied Highly

dissatisfied

Particulars

No.ofRes

pondents


49/73

TABLE 9

SATISFACTION LEVEL ON PRESENT JOB


Respondents


2. Satisfied 4343


4. HighlyDissatisfied

14 14

Total 100 100

Inference:

From the above table 30% of respondents are highly satisfied with their

present job, 43% of respondents are satisfied and 13% of respondents dissatisfied

and 14% of respondents are highly dissatisfied with their present job.

49


50/73

CHART 9

SATISFACTION LEVEL ON PRESENT JOB

3043

13 14

0

10

20

30

40

50

60

70

80

90

100

Highly satisfied Satisfied Dissatisfied Highly

Dissatisfied

Particulars

No.ofRe

spondents


51/73

TABLE 10

PREFERENCE ON SUPERVISION OF JOB


Respondents

1. Very good 37 37

2. Good 4040

3. Average 1010

4. Bad 13

13

Total 100 100

Inference:

From the above table 37% of respondents says very good for supervision on

job, 40% of respondents says good, 10% of respondents says average and 13% of

respondents says bad for supervision on job.

51


52/73

CHART 10

PREFERENCE ON SUPERVISION OF JOB

37 40

10 13

0

10

20

30

40

50

60

70

80

90

100

Very good Good Average Bad

Particulars

No.ofRespondents


53/73

TABLE 11

TREATING OF MANAGEMENT TOWARDS EMPLOYEES


Respondents

1. Very good 38 38

2. Good 23 23

3. Average 25 25

4. Bad 1414

Total 100 100

Inference:

From the above table 38% of respondents says very good for treating towards

employees, 23% of respondents says good, 25% of respondents says average and

15% of respondents says bad for treating of management towards employees.

53


54/73

CHART 11

TREATING OF MANAGEMENT TOWARDS EMPLOYEES

38

23 2514

0

10

20

30

40

50

60

70

80

90

100

Very good Good Average Bad

Particulars

No.ofRespondents


55/73

TABLE 12

EMPLOYEES OPINION ON INCREMENT


Respondents

1. Yes 67 67

2. No 33 33

Total 100 100

Inference:

From the above 67% of respondents says Yes organization pays increment

for their job. And 33% of respondents says No i.e. organization does not pay any

increment for their job.

55


56/73

CHART 12

EMPLOYEES OPINION ON INCREMENT

No. of Respondents

Yes

67%

No

33%


57/73

TABLE 13

EMPLOYEES OPINION FOR OVERTIME PAYMENT

S.No. ResponseNo. of

Respondents

Percentage of

Respondents

1. Yes 73 73

2. No 27 27

Total 100 100

Inference:

From the above table 73% of respondents say Yes the organization is having

overtime payment for extra work. And 27% of respondents say No i.e. the

organization is not having overtime payment for extra work.

57


58/73

CHART 14

EMPLOYEES OPINION FOR OVERTIME PAYMENT

No. of Respondents

Yes

73%

No

27%


59/73

TABLE 14

RESPONDENTS OPINION ON RETIREMENT BENEFITS


Respondents

1. Very Good 27 27

2. Good 26 26

3. Average 28 28

4. Bad 19 19

Total 100 100

Inference:

From the above 27% of respondents says very good towards retirement

benefit, 26% of respondents says good, 28% says average and 19% of respondents

says bad towards retirement benefits.

59


60/73

CHART 14

RESPONDENTS OPINION ON RETIREMENT BENEFITS

27 26 2819

0

10

20

30

40

50

60

70

80

90

100

Very Good Good Average Bad

Particulars

No.of

Respondents


61/73

TABLE 15

PREFERENCE FOR CHILDREN EDUCATION FACILITY


Percentage of

Respondents

1. Yes 48 48

2. No 52 52

Total 100 100

Inference:

From the above table 48% of respondents says Yes the organization is

providing children education facilities, and 52%of respondents says No, i.e. the

organization is not providing children education facilities.

61


62/73


63/73

TABLE 16

REGARDING TO EMPLOYEES SATISFACITON


Percentage of

Respondents

1. Highly Satisfied 34 34

2. Satisfied 31 31


4. HighlyDissatisfied

15 15

Total 100 100

Inference:

From the above table 34% of respondents are highly satisfied considering

everything regarding employees satisfaction, 31% of respondents are satisfied and

20% of respondents are dissatisfied 15% of respondents are highly dissatisfied

considering everything regarding employees satisfaction.

63


64/73

CHART 16

REGARDING TO EMPLOYEES SATISFACITON

34 31

2015

0

10

2030

40

50

6070

80

90

100

No. of

Respondents

Highly

Satisfied

Satisfied Dissatisfied Highly

Dissatisfied

Particulars


65/73

CHAPTER VI

FINDINGS


66/73

FINDINGS

84% of respondents belongs to male category

35% of respondents belongs to 25 30 age group

55% of respondents are getting 75,000 1,00,000 of salary package per

annum.

63% of respondents are satisfied with their current salary.

62% of respondents are told that their colleagues are co-operative with them

43% of respondents are satisfied with job security

43% of respondents are satisfied with their present job

40% of respondents says feel that the job supervision is good for supervision

on job.

38% of respondents says that the organization treating the employee in very

good manner.

67% of respondents says that the organization pays increment for their job.

86% of respondents says that they have first aid facility

73% of respondents told that the organization is having overtime payment for

extra work.

28% of respondents says that average towards retirement benefits

52% of respondents says that i.e. the organization is not providing children

education facilities.

34% of respondents says that they are highly satisfied considering everything

regarding employees satisfaction.


67/73

CHAPTER VII

SUGGESTIONS


68/73

SUGGESTIONS

The organization must provide good retirement benefits

The overtime payment is motivating the employees in the organization

The organization must provide children educational facilities

Management employees relation must be improved


69/73

CONCLUSION

To summarize or to conclude the whole research process on employees

satisfaction done or performed by the researcher had been inferred that the

employees satisfaction level within employees in ICICI Prudential should be still

improved to the maximum at all levels such as creating recreation facilities, first aid

facilities, conducting training program and all such that benefits the company

regarding that they would be somewhat satisfied with their work.

The lower-level employees in the company are mostly illiterate and they have

only the knowledge of performing one specific job delegated to them. Therefore the

employees should be still trained in other works in the company to increase the

productivity.

This study mostly covers all the information about the employees satisfaction

models in the company. By the information from the above research, the satisfaction

level of the employee is not up to the expected level.

69


70/73

BIBLIOGRAPHY

BOOKS

Memoria.C.B., Personal Management, Mumbai, Himalaya Publishing House,

2000.

Tripathy P.C., Personal Management and Industrial Relations, New Delhi,

Sulthanchand and Sons, 1996, 12th Edition.

Subba Rao.P., and Rao V.S.P. Personal Resource Management, New Delhi,

Konark Publishers Private Limited, Jan, 1992, 2nd Edition.

Kothari.C.R. Research Methodology New Delhi Wishwa Prakasam Publishers,

1992, 2nd Edition.

Websites:

www.irda.com

www.iciciprulife.com

www.google.com


71/73

APPENDIX


72/73

QUESTIONNAIRE

Name

1. Gender : a) M b) F

2. Age : a) 20 25 b) 25 30 c) 30 35 d) 35 & above

3. Years of experience in ICICI prudential

a) 0 1 years b) 1 3 years c) 3 5 years

d) 5 7 years e) 7 years above

4. What salary package you are getting per annum?

a) 60,000 75,000 b) 75,000 1,00,000

c) 1,00,000 1,25,000 d) above 1,25,000

5. Are your satisfied with your current salary?

a) Highly satisfied b) Satisfied

c) Dissatisfied d) Highly dissatisfied

6. Are your colleagues are co-operative with you?

a) Yes b) No

7. Are you having First Aid facility?

a) Yes b) No

8. Are you satisfied with your job security?



9. Are you satisfied with your present job?




73/73

10. How do you feel about the supervision in your job?

a) Very Good b) Good

c) Average d) Bad

11. How the management treating you?


c) Average d) Bad

12. Are you paid any increment for your job?

a) Yes b) No

13. Is the organisation having any over time payment for your extra work?

a) Yes b) No

14. How do you feel with regard to retirement benefits like pension and other

benefits.


c) Average d) Bad

15. Is the organization providing children educational facilities?

a) Yes b) No

16. Considering everything how satisfied are you regarding employees satisfaction?



17. Comments on employees satisfaction ..

Documents

1870 Employees Satisfaction