CMC-Employee Motivation- Bajaj Allianz

CHAPTER - 1INTRODUCTION

INTRODUCTION TO HUMAN RESOURCE MANAGEMENT

A wonderful creation of man brought significant and paradigm shifts in our day-to/day life. The people make or mar the organization. According to L F Urwick Business houses are made or broken in the long run not by markets or capital, patent or equipment by men managing men has become a task of trauma. As it is said, by father of psychologist Sigmund Freud that, beats are better than some men. Sometimes we find such men in the organization and managing these men is a task. Managing this task is Human Resource Management.

An organization is nothing without Human Resource. Of all the resources manpower is the only resources, which does not depreciate with the passage of the time. The term Human Resource is a resource like any natural resources (i.e.) management can get and use the skills, knowledge, ability etc. Through the development of multi-facets, skill tapping and utilizing them again and again by developing a positive attitude among employees. From the view point of the organization Human Resource Management is the process of efficiently getting activities completed with and through other people.

In the process of glamorous globalization Human resource management was heralded as a new era of human people oriented employment management and derided as a blunt instrument to bully workers. But the former proved a value and this value stabilized and strengthen the Silicon Valley and Silicon Valleys of India. Human Resource Management concerned the human side of the management of enterprises and employees relations with their firm.

The employees of a company i.e. its Human Resources are understood in and used in such a way that the employer obtains the greatest possible benefit from their abilities and the employees obtain both material and psychological rewards from their work. Human Resource Management sees employees as assets to be used strategically through their close involvement with the organization and by raising employees levels of commitment to the aims and requirements of the firms. Now a days employees are encouraged to welcome change, to be innovative, quality conscious and flexible.

HRM AS CENTRAL SUBSTSTEM IN AN ORGANIZATION

As a central subsystem, HRM interacts closely and continuously with all other subsystem of an organization. The quality of people in all subsystem depends largely upon the policies, programmes and practices of the HRM subsystems. The quality of Human Resource determines in turn the success of the organization.

HRM become very significant in recent decades due to the following factors:

Growth of powerful nation wide trade union. Increase proportion of women in the workforce. Rise of professional and knowledgeable workers. Growing expectations of society from employers. Increase in the size and complexity of the organization. Revolution in information technology that might effect the workforce. Rapid technological developments like automation and computerization. Rapidly changing jobs and skills requiring long term manpower planning. Widening scope of legislation designed to protect the interests of the workforce.

HRM The new assumptions

Goal orientation (relationship orientation) Participation and informed choice (control from top) People are social capital capable of development (people are variable cost) Seeks power equalization for trust and collaboration (seeks power advantage for bargaining and confrontation) Coincidence of interest between stakeholders can be development (self interest dominates conflict between stakeholders) Proactive system wide intervention, with emphasis on fit linking HRM with strategic planning and cultural change (old assumption reactive, piecemeal intervention in response to specific problem)

Out comes to HRM

According to the Harvard Researchers, the effectiveness of the outcomes to HRM are:

Commitment Competence Congruence Cost-effectiveness

CommitmentConcerns employees loyalty to the organization personal motivation and linking for their work. The degree of employee commitment might be assessed via attitude surveys labor turnover and absenteeism statistics and through interview with the workers who quit their jobs.

CompetenceRelates to employees skills and abilities, training requirements and potential for higher work. These may be estimated through employee appraisal system and the preparation of skills inventories. HRM policies should be designed to attract, retain and motivate competent.

CongruenceCongruence means that management and workers share the same vision of the organization goals and work together to attain them. In a well-managed organization, employees at all levels of authority will share common perspectives about the factors that determine its prosperity and future prospects.

Cost-effectivenessConcerns operational efficiency. HR should be used to the best advantage and in the most productive ways. Outputs must be maximized at the lowest input cost and the organizational must be quick to respond to market opportunities and environmental changes.

INTRODUCTION:

Motivation is one of the most important factors affecting human behavior and performance. This is the one of the reason why managers attach great importance to motivation in organizational setting. Lipkert has called motivation has the core of management. Effective directing leads to effectiveness, both at organizational and individuals levels. This requires the understanding of what individuals want from the organization. However, what individuals want from the organization has not been fully identified.

Inner strivings of individuals that direct behavior. Unsatisfied desires create the motivation to act with purposeful behavior to achieve gratification.

Definition of Motivation:

A simple definition of motivation is the ability to change behavior. It is a drive that compels one to act because human behavior is directed toward some goal. Motivation is intrinsic (internal); it comes from within based on personal interests, desires, and need for fulfillment. However, extrinsic (external) factors such as rewards, praise, and promotions also influence motivation. As defined by Daft (1997), motivation refers to the forces either within or external to a person that arouse enthusiasm and persistence to pursue a certain course of action

People who are committed to achieving organizational objectives generally outperform those who are not committed. Those who are intrinsically rewarded by accomplishments in the workplace are satisfied with their jobs and are individuals with high self-esteem. Therefore, an important part of management is to help make work more satisfying and rewarding for employees and to keep employee motivation consistent with organizational objectives. With the diversity of contemporary workplaces, this is a complex task. Many factors, including the influences of different cultures, affect what people value and what is rewarding to them.From a managers perspective, it is important to understand what prompts people, what influences them, and why they persist in particular actions. Quick (1985) presented these four underlying principles that are important to understanding motivation: People have reasons for everything they do. Whatever people choose as a goal is something they believe is good for them. The goal people choose must be seen as attainable. The conditions under which the work is done can affect its value to the employee and his or her perceptions of attainability or success. When management was first studied in a scientific way at the turn of the twentieth century, Frederick Winslow Taylor worked to improve productivity in labor situations so important in those days of the developing Industrial Revolution. Taylor developed efficiency measures and incentive systems. When workers were paid more for meeting a standard higher than their normal production, productivity increased dramatically. Therefore, workers seemed to be economically motivated. At this time in history, social issues involved in human behavior were not yet considered. Amore humanistic approach soon developed that has been influencing management ever since.

During the late 1920s and early 1930s, Elton Mayo and other researchers from Harvard University conducted studies at a Western Electric plant in Hawthorne, Illinois, to measure productivity. They studied the effects of fatigue, layout, heating, and lighting on productivity. As might be expected when studying lighting, employee productivity levels increased as the illumination level was increased; however, the same effect was noted when the illumination level was decreased. The researchers concluded that the attention paid to the employees was more of a contributing factor to their productivity level than the environmental conditions. The fact that paying attention to workers could improve their behavior was called the Hawthorne effect. As a result of this research, it was evident that employees should be treated in a humane way. These findings started the human relations movementa change in management thinking and practice that viewed increased worker productivity as grounded in satisfaction of employees basic needs. [Many years later, it was discovered that the workers in the Hawthorne experimental group had received an increase in income; therefore, money was probably a motivating factor, although it was not recognized as such at the time. (Daft, 1997)].Motivation theories have continued to evolve and have their roots in behavioral psychology. They provide a way to examine and understand human behavior in a variety of situations. Ongoing changes in the workplace require that managers give continuous attention to those factors that influence worker behavior and align them with organizational goals. No one theory is appropriate for all people and for all situations. Each individual has his or her own values and differing abilities. In business settings, managers apply motivation theories to influence employees, improve morale, and implement incentive and compensation plans.

NEED FOR THE STUDY

The purpose of the study is to identify the level of motivation among the working group in Bajaj Allianz Life insurance. To know the working environment, supervisors relationship, family relationship and individual perception about the company in relation to motivation. The study can reveal the psychological and economic factors associated with motivation and also can bring forth the interrelated factors for motivation. The study would be helpful in giving suggestions to apply the motivation methods.

SCOPE OF THE STUDY:

The human resources management has to identify employees motivation to match with the organizations productivity. The motivation of each employee will lead to the better performance and in turn satisfies both the employees and also organization. As employee motivation is important for the organization to achieve the desired goals on time, therefore the employees must be motivated by using various techniques.OBJECTIVES OF THE STUDY:

To identify how employee motivation is related to performance. To measure the consequences of pre and post employee motivation. To study the role of employee empowerment after motivation. To calculate the level of motivation. To study the impact of authorized motivation on productivity. To measure employee satisfaction towards working environment. LIMITATIONS

The study is conducted on a limited number of employees and no on the entire workforce. The information provided by the respondents in the survey may be biased or may not view as seriously to provide with accurate information. This study is limited to a certain time period and at the point of time. Response from inexperienced workforce or relatively new workforce in the survey may tamper some validity of information.

RESEARCH METHODOLOGY

1. Sampling design

Size of sample : sample size is 32 to 100 Methods of sampling : simple random sampling

1. Data collection methods :In general there are two types of data collection

I. Primary data collection : questionnaire

II. Secondary data collection :a. Articles in magazinesb. Journalsc. Internetd. News papers

Hypothesis

Hypothesis: with regard to the above stated objectives following hypothesis were formulated.

Null hypothesis: Employees in various cadres do not hold different views with regard to the Motivational factor. Alternative hypothesis: Employees in general are not satisfied with the existing motivational practices.

CHAPTER - 2REVIEW OF LITERATURE

REVIEW OF LITERATURE

Employee motivation and empowerment

Introduction: Motivation is one of the most important factors affecting human behavior and performance. This is the one of the reason why managers attach great importance to motivation in organizational setting. Lipkert has called motivation has the core of management. Effective directing leads to effectiveness, both at organizational and individuals levels. This requires the understanding of what individuals want from the organization. However, what individuals want from the organization has not been fully identified.

Definition: motivation is the complex forces starting and keeping a person at work in an organization . Motivation is something that moves the person to action, and continues him in course of action already initiated.

motivation refers to the way in which urges, drives, desires, aspirations, strives, or needs direct, control or explain the behavior of human beings.

Motivation can be defined in a variety of ways, depending on whom you ask. If you ask someone on the street, you may get a response like, its what drives us or motivation is what makes us to do the things we do . as far as a formal definition, motivation can be defined as forces within in an individual that account for the level, direction, and persistence of effort expended at work, according to schermer horn, et al . This is an excellent working definition for use in business.

In order to understand the concept of motivation, we have to examine three terms : motive, motivating and motivation and their relationship.

Study: The purpose of study is to identify the type of motivation most suited for higher productivity and methods usually adopted for measuring employees motivation. To study the factors affecting the individual performance.

Motive: based on the latin word mover, motive (need) has been defining s follow;

a motive is an inner state that energies, actives, or moves (hence motivation), andThat directs behavior towards goals.

There is a difference between needs and wants. It is necessary to know the differenceBetween those two terms for every employee. Needs are more comprehensive and includeDesires both physiological needs like social needs, recognition needs, etc, which do not fall under wants.

Motivating: Motivation is the term which implies that one person in the organization context, a manager, induces anther, say employee to engage in action (work behavior) by ensuring that a channel to satisfy the motive become available and accessible to the individual in additionTo channel zing the strong motive in a direction that is satisfying t both the organization and the employers the manger can also active the latest motivation in individuals and harness them in a manner that would be function for the organization.

Motivation: While a motive is engizer of action motivation is the canalization and activation ofMotives motivation is the work behavior itself. Motivation depends on motives and motivating therefore, it becomes a complex process.

Fig 1: relationship between motive, motivating and motivation

Engagement in workBehaviorActivating needs andProviding need satisfactionEnvironmentNeeds inIndividuals

MotivationMotivatingMotive

.

Nature of motivating:

Based on the definition of motivation, we can derive its nature relevant for human behavior in organization.

Following characteristics of motivation clarify its nature:1. Based on motives: Motivation is based on individuals motives which are internal to the individuals. These motives are in the form of feelings that the individual lacks something. In order to overcome this feeling of laciness, the employee tries to behave in a manner which helps in overcoming this feeling.

2. Affected by motivating: Motivation is affected by way the individual is motivated. The act of motivating channelizes need satisfaction. Besides, it can also activate the latent needs in the individual, that is, the needs that are less strong and somewhat dormant, and harness them in a manner that would be functional for the organization. 3. Goal-directed behavior: Motivation leads to goal directed behavior. A goal-directed behavior is one which satisfies the causes for which behavior take place. Motivation has profound influence on human behavior; in the organizational requirements.

4. Related to satisfaction: Motivation is related to satisfaction. Satisfaction refers to the contentment experiences of an individual which he drives out of need fulfillment. Thus, satisfaction is a consequence of rewards and punishments associated with the past experiences. It provides means to analyze outcomes already experienced by individual.

5. Persons motivated in totality:A person is motivated in totality and not in part. Each individual in the organization is a self-contained unit and his needs are interrelated. These affect his behavior in different ways. Moreover, feelings of needs and their satisfaction is a continuous process. As such, these create continuity in behavior.

6. Complex process: Motivation is a complex process; complexity emerges because of the nature of needs and the type of behavior that is attempted to satisfy those needs.

These generate complexity in motivation process in the following ways. (1) needs are internal feelings of individuals and sometimes even they, They may not be quite aware about their needs and the priority of these. Thus, Understanding of human needs and providing means for their satisfaction Becomes difficult. (2) even if needs are identified, the problem is not over here as a particular need may result into different behaviors from different behaviors from different result into different behaviors from different need ma individuals because of their differences. For example, the need for promotion may be uniform for different individuals may no engage in similar type of behavior; they may adopt different routes to satisfy their promotion needs.3) a particular behavior may emerge not only because of the specific need but it may be because of a variety of needs. For example, hard work in the organization may be due to the need for earning more money to satisfy psychological needs, or may to enjoy the performance of work itself and money becomes secondary, or to get recognition as a hard- working person.

4) Goal directed behavior may lead to goal attainment. There may be many cons buses in situation which may restring the goal attainment of goal directed behavior. This may lead to frustration in an individual creating lot of problems.

Type of needs There are many types of needs which an individual may have and there are various ways in which these may be classified. The basic objective behind classification of needs into categories is to find out similarly and dissimilarly in various needs so that incentives are grouped to satisfy the needs falling under one category or the other. Needs may be natural, biological phenomenon in an individual, or these may over the period of time through learning.

Thus, needs may be grouped into three categories: 1) primary needs 2) secondary needs 3) general needs

Primary needs: Primary needs are also known as physiological, biological, basic, or unlearned needs. Primary needs are animal drives which are essential for survival. These needs are common to all human beings, though their intensity may differ.

Secondary needs: These needs are learned by the individual through his experience and interaction. Therefore these are called derived or learned needs. Emergence of these depends on learning. These may be different types of secondary needs for power, achievement, status affiliation, etc.

General types: Though a separate classification of general needs is not always given, such a category seems necessary because there are of needs which lie in the grey area between the primary and secondary needs. Such needs are like need for competence, curiosity, manipulation, affection, etc

Motivation and behavior Motivation causes goal- directed behavior. Felling of a need by an individual generates a feeling that he lacks something. This lack of something creates tension in the in of the individual. Since the tension is not an ideal state of mind, the individual tries to overcome this by engaging himself in an behavior through which he satisfies his needs. Goal directed behavior leads to goal fulfillment and the individual succeeds in fulfilling his needs and there by overcoming his tension in the favorable environment. Satisfaction is one need leads to feeling of another need, either same need after the lapse of certain time or different need and goal directed behavior goes on. Thus, goal directed behavior is a continuous process. 3. Aggression: A more common reaction to frustration is aggression, an act against someone or something. An employee being denied a promotion may become aggressive and verbally berate his supervisor.

Motivation and performance Motivation is necessary for work performance because if people do not feel inclined to engage themselves in work behavior, they will not put in necessary efforts to perform well. However, performance of an individual in the organization depends on a variety of factors besides motivation. Therefore, it is desirable to identify various factors which affect individual performance and the role that motivation plays.

Factors affecting individual performance: Observations show that (1) various individual perform differently in the same work situations, and (2) the same individual performs differently in different work situations. These statements suggest that various factors which affect an individuals performance are broadly of two types ------- individual and with in each type there may be several factors. We can derive form figure that individual performance depends on the following factors:

1. Motivation of individual,2. His since of competence, 3. His ability,4. His role perception, and5. Organizational resources

MotivationSense ofCompetence Role PerceptionRewardPerformanceOrganizationalResourcesAbility

Fig 4: factors affecting individual performance If any of the elements is taken away, performance will be affected adversely. The double- headed arrow between motivation and sense of competence that the two variables mutually influence each other. Reward, as a result of individuals performance affects his level of motivation. If the reward is perceived to be of valence and equitable, it energizes the individual for still better performance and this process goes on.

1. Motivation: Level of motivation drives an individual for work. Motivation is based on motive which is a feeling that an individual lacks some things. This feeling creates some sort of tension in his mind. In order to overcome this tension, he engages in goal directed behavior that is taking those actions trough which his needs are satisfied. Thus, motivation becomes a prime mover for efforts and better work performance.

2. Sense of competence: To sense of competence denotes the extent to which an individual consistently regards himself as capable of doing a job. Sense of competence of an individual depends to a very great extent on his locus of control. Locus of control means whether people believe that they are in control of events or events control them. Those who have internal locus of control believe that they can control and shape the course of events in their lives; those who have external locus of control tend to believe occur purely by chance or because of factors beyond their own control. An individual with internal locus of control tends be high performer than those with external locus of control. However, this sense of competence is not an independent factor but depends on the ability of the individual.

3. Ability While sense of competence is type of perception about oneself, ability is his personal attributes relevant for doing a job. Often, ability is expressed in the following way or equation.

Ability=knowledge* skillKnowledge refers to the position of information and ideas in a particular field which may be helpful in developing relationships among different variables related to that field. Skill refers to expertness, practical ability or facility in an action or doing something. Thus, if the individual has ability relevant to his job, his performance tends to be higher than those who do not posses such ability.

4. Role perception A role is the pattern of actions expected of a person in activities involving others. Role reflects a persons position in the social system with its accompanying rights and obligations. In an organization, activities of an individual are guided by his role perception that is, how he thinks he is supposed to act in his own role is clear, the individual tends to perform well. There are two types of problems which emerge in role specification, role ambiguity and role conflict role ambiguity denotes the state in which the individual is not clear what is expected from him in the job situation. Role conflict is the situation in which the individual engages in two or more roles simultaneously and these roles are mutually incompatible. In both these situations, his performance is likely to be affected adversely.

5. Organizational resources: Organizational resources denote various types of facilities ---physical and psychological ---which are available at the work place. Physical facilities include appropriate layout of the work place and conductive physical environment. Psychological facilities include appropriate reward system, training development facilities, harmonious workshop appropriate and motivating leadership styles, motivating work, and do on. These organizational resources work in two ways in increasing individual performance. First, they facilitate job performance. Second they work as motivating factors which enhance individual enthusiasm to perform well.

Role of motivation

Motivation is one among the various factors affecting individual performance. However, it is one of the most important factors. All organizational facilities will go waste in the lack of motivated people to utilize these facilities effectively. Every superior in the organization must motivate his subordinates for the right types of behavior. Diagnosing human behavior and analyzing as to why people behave in a particular way is of prime importance in motivating them irrespective of the organization because individual is the basic component of any organization.The importance of motivation in an organization may be summed up as follows:

1. High performance level: Motivated employees put together performance as compared to other employees. In a study it was found that motivated employees worked at close 80-90 percent of their ability. The further suggested that hourly employees could maintain their jobs, if they were not fired, by working approximately 20to30 percent of their ability. The high performance is a must for an organization being successful and this performance comes by motivation.

2. Low employee turnover and absenteeism Motivated employees stay in the organization and their absenteeism is quite low. High turnover and absenteeism create many problems in the organization. Recruiting, training and developing large number of new personnel into a working team take years. In a competitive economy, this is almost an impossible task. Moreover, this also effects the reputation of the organization unfavorably

3. Acceptance of organizational changes: Organizations are created in the society. Because of changes in the society--- changes in technology, value system etc, and organization has to incorporate those things to cope up with the requirement of the time. When these changes are introduced in the organization, there is a tendency to a resist these changes by the employees. However if they are properly motivated, they accept, introduce and implement these changes keeping the organization on the right track of progress.

Empowerment

Empowerment is the process of enabling or authorizing an individual to think, behaves, take action, and control work and decision making in autonomous ways. It is the state of feeling self-empowered to take control of ones own destiny. Empowerment rules as a development strategy.

Along with motivation job design, empowerment is also used as a technique for motivation. Most of work organizations have a number of employees who believe that they are dependent on others and their own efforts have little impact on the performance. Sense of this powerless creates frustration in employees and they start developing feeling that they cannot perform successfully or make meaningful contributions. In order to overcome this feeling of employees and involving them in their jobs, the idea of empowerment has been introduced. The basic those of empowerment have emerged from the proponents of total quality management (tqm) which has gained acceptance throughout the world.

In Websters dictionary, the verb empowers means to give the means, ability of authority. Thus, empowerment in work setting involves giving employees the means, ability and authority to do something.

Newsroom and Davis have defined empowerment as follows

Empowerment is any process that provides greater autonomy through the sharing of relevant information and the provision of control over factors affecting job performance.

Empowerment helps remove the conditions that cause powerlessness while enhancing employee feeling of self-efficacy.

There are five approaches which have been suggested for empowerment:

1. Helping employees achieve job mastery giving training, coaching, and guided experience that are required for initial success.

2. Allowing more control giving employees descr travel section over job performance and making them accountable for the performance outcomes.

3. Providing successful role models allowing them to observe peers who are performing successfully on the job.

4. Using social reinforcement and persuasion giving praise, encouragement, and verbal feedback to raise confidence.

5. Giving emotional support reduction of stress and anxiety through better role present travel section, task assistance, and personal care.

When managers use these approaches, employees develop a feeling that their jobs are important and they contribute meaningfully for the achievement of organizational effectiveness. This feeling contributes positively to the use of skills and talents in job performance as shown in figure:

Better Performance Empowerment Job mastery More self-control Reinforcement Perception of Empowerment Self-confidence High values to job

Fig 5: empowerment and its effect

Making empowerment effective

Top 10 principles of employee empowerment:

These are the most important principles for people in a way that reinforces employee empowerment, accomplishment, and contribution. These management actions enable both the people who work with you and the people who report to you to soar.1. Demonstrate, you value people

Your regard for people shines through in all of your actions and words. Your facial expression, your body language, and your words express what you are thinking about the people who report to you. Your goal is to demonstrate your appreciation for each persons unique value. No matter how an employee is performing on their current task, your value for the employee as a human being should never falter and always be visible.2. Share leadership vision

Help people feet that they are part of something bigger than themselves and their individual job. Do this by making sure they know and have access to the organizations overall mission, vision, and strategic plans.

3. Share goals and direction

Share the most important goals and direction for your group. Where possible, either make progress on goals measurable and observable, or ascertain that you have shared your pictures of a positive outcome with the people responsible for accomplishing the results.

4. Trust peopleTrust the intention of people to do the right thing, make the right decision, and make choices that, while may be not exactly what you would decide, still work.5. Provide information for decision making Make certain that you have give people, or made sure that they have access to, all of the information they need to make thoughtful decisions. 6. Delegate authority and impact opportunities, not just more workDoesnt just delegate the drudge work; delegate some of the fun stuff, too. You know, delegate the important meetings, the committee memberships that influence product development and decision making, and the projects that people and customers notice. The employee will grow and develop new skills. Your plate will be less full so you can concentrate on contribution. Your reporting staff will gratefully shine-and so will you.

7. Provide frequent feedbackProvide frequent feedback so that people know how they are doing. Sometimes, the purpose of feedback is reward and recognition. People deserve your constructive feedback, too, so they can continue to develop their knowledge and skills.

8. Solve problems: dont pinpoint problem peopleWhen a problem occurs, ask what is wrong with the work system that caused the people to fail, not what is wrong with the people. Worst case response to problems? Seek to identify and punish the guilty.

9. Listen to learn and ask questions to provide guidanceProvide a space in which people will communicate by listening to them and asking them questions. Guide by asking questions, not by telling grown up people what to do. People what to do. People generally know the right answers if they have the opportunity to produce them. When an employee brings you a problem to solve, ask, what do you think you should do you should do to solve this problem?Or, ask, what action steps do you recommend? Employees can demonstrate what they know and grow in the process.

10. Help employees feel rewarded and recognized for empowered behaviorWhen employees feel under-compensated, under-titled for the responsibilities they take on, under-noticed, under-praised, and under appreciated, dont expect results from employee empowerment. The basic needs of employees must feel met for employees empowerment. The basic needs of employees must feel met for employees to give you their disc travel stationary energy, that extra effort that people voluntarily invest in work.

CHAPTER - 3

INDUSTRY PROFILE&

COMPANY PROFILE

INDUSTRY PROFILEThe insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries.

A brief history of the Insurance sector The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta.

Some of the important milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,1956, with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

Insurance sector reformsIn 1993, Malhotra Committee headed by former Finance Secretary and RBI Governor R.N. Malhotra was formed to evaluate the Indian insurance industry and recommend its future direction.

The Malhotra committee was set up with the objective of complementing the reforms initiated in the financial sector.

The reforms were aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy keeping in mind the structural changes currently underway and recognizing that insurance is an important part of the overall financial system where it was necessary to address the need for similar reforms

In 1994, the committee submitted the report and some of the key recommendations included:i) Structure Government stake in the insurance Companies to be brought down to 50% Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries can act as independent corporations. All the insurance companies should be given greater freedom to operate

ii) Competition

Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the industry. No Company should deal in both Life and General Insurance through a single entity. Foreign companies may be allowed to enter the industry in collaboration with the domestic companies. Postal Life Insurance should be allowed to operate in the rural market. Only one State Level Life Insurance Company should be allowed to operate in each state

iii) Regulatory Body

The Insurance Act should be changed An Insurance Regulatory body should be set up Controller of Insurance (Currently a part from the Finance Ministry) should be made independent

iv) Investments

Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50% GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time)

v) Customer Service

LIC should pay interest on delays in payments beyond 30 days Insurance companies must be encouraged to set up unit linked pension plans Computerization of operations and updating of technology to be carried out in the Insurance industry.

Hence, it was decided to allow competition in a limited way by stipulating the minimum capital requirement of Rs.100 crore. The committee felt the need to provide greater autonomy to insurance companies in order to improve their performance and enable them to act as independent companies with economic motives. For this purpose, it had proposed setting up an independent regulatory body.

The Insurance Regulatory and Development Authority (IRDA)

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies.

The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDAs online service for issue and renewal of licenses to agents.

The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products, which are expected to be introduced by early next year.

Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. In the private sector 12 life insurance and 6 general insurance companies have been registered.

Company Profile

Bajaj Allianz Life Insurance Company Limited

Bajaj Allianz is a joint venture between Bajaj Finserv Limited and Allianz SE. Both enjoy a reputation of expertise, stability and strength. This joint venture Company incorporates global expertise with local experience. The comprehensive, innovative solutions combine the technical expertise and experience of Allianz SE, and in-depth market knowledge and goodwill of "Bajaj" brand in India. Competitive pricing and quick honest response have earned the Company the customer's trust and market leadership in a very short time.At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering customized products with transparent benefits supported by the best technology is our business philosophy.Bajaj Allianz Life Insurancehas developed insurance solutions that cater to every segment and age-income profiles. Currently Bajaj Allianz has a strong product portfolio and caters to all kinds of customer needs from ULIPs to Child plans, from group insurance to health insurance.

Vision

To be the Best Life Insurance Company - To Buy from, Work For & Invest in.

Awards and Recognition:

"Best Insurance Company in private sector" at the IPE Banking Financial Services and Insurance (BFSI) 2013. Organization of the Year by SKOCH Financial Inclusion Award 2013 SKOCH Financial Inclusion Award 2012 for contribution towards financial inclusion through life insurance Bajaj Allianz Life Insurance has been rated amongst the 50 top service brands and ranked as Third Best Life Insurer, as per a survey conducted on 'Most Trusted Companies' by Brand Equity and AC Nielsen-ORG Marg 2012. Best Contribution in Investor Education & Category Enhancement by Bloomberg UTV Financial Leadership Awards 2011 The Best Utilization of Information Technology to Transform Business by Bloomberg UTV CXO Awards 2011-Technology Chapter.

Products & Services

Term Insurance Savings Solutions Investment Solutions Retirement Solutions ULIP Group Insurance NRI Corner

PRODUCT PROFILE

The Bajaj allianza child gain Plan :Taking care of a child is perhaps the most important job a parent can have. It is but natural that you would like to give your child your best. And therefore, this is the time when careful financial planning can help you fulfill the aspiration that you have for your children. The Bajaj Allianz child gain solutions help you to enjoy the joys of parenthood responsibly, with the reassurance of a secure future for your child.

What does Bajaj Allianz child gain plan offer you? Bajaj Allianz child offers a wide array of solutions that allows you to plan for your childs future by providing you with as many as 4 distinct and unique options.

Option 1: child gain 21

Option 2: child gain 24

Option 3: child gain 21 plus

Option 4: child gain 24 plusThe Bajaj allianz new unit gain plan : Bajaj Allianz New unit gain comes with a host of features that allows you to have the best of both worlds protection and investment , with flexibility like never before.Key features of this plan are : Guaranteed death benefit. Choice of investment funds with flexible investment management; you can change funds at any time. Providing for full/partial withdraws any times after three years, provided three full years premiums are paid. Unmatched flexibility to match your changing needs . Maturity benefit equal to the fund value payable on the date of maturity.

The Bajaj Allianz new unit gain plus plan: The Bajaj Allianz new unit gain plus plan comes with a host of features that allows you to have the best of both worlds protection and investment with flexibility like never before. Some of the key feature of this plan are : Guaranteed death benefit Choice of 5 investment funds with flexible investment management : you can change funds at any time. Attractive investment alternative to fixed interest securities. Choice of investment funds with flexible investment management: you can change funds at any time . Attractive investment alternative to fixed interest securities Provision for full/partial withdrawals any time after three years from commenced of the policy provided three full years premiums are paid. Unmatched flexibility to match your changing needs. Maturity benefit equal to the fund value payable on date of maturity.

How does Bajaj Allianz Cash Gain? This plan pays out a guaranteed amount on survival at the end of every 1/5th of the Policy term selected. A total of 75% of the sum assured is paid out in the first 4 cash benefits. On maturity, 50% of the sum assured is paid along with accrued bonuses. Hence the total Cash/survival benefit distributed under this plan comes to more than 100% 0f the sum assured in fact 125% of the sum assured.

1st Cash Benefit 15% of Sum Assured 2nd Cash Benefit 25% of Sum Assured3rd Cash Benefit 25% of Sum Assured4th Cash Benefit 25% of Sum AssuredOn maturity 50% of sum Assured + accrued bonuses. The benefits will further increases by way of accrued bonuses that are distributed at maturityor on death, if earlier. In case of maturity or death after 15 full policy years, the company may pay an additional terminal bonus for in force policies.

The Bajaj Allianz Invest Gain plan :Bajaj Allianz Invest Gain is a specially designed plan that offers unique combinations of benefits to help you develop a sound financial partfolio for your family. Among the many unique benefits, the most significant is the family income benefit (FIB) that sustains the family by compensating the loss of income due to death or permanent disability. This is one stop shop solution that can keep ypu and you family financially protected at times when you need it most. In a financial world where choices can drive you crazy, your search for the perfect life insurance plan stops here.

Bajaj Allianz Life aims high

Sam Ghosh, CEO, Bajaj Life Insurance Company Limited, who took over this January, outlines his aggressive growth strategy. Venkatachari Jagannathanreports

Bajaj Life Insurance Company Limited a 74:26 joint venture between Bajaj Auto Limited and Allianz AG, Germany (formerly Allianz Bajaj Life Insurance Company Limited) under a new team headed by Sam Ghosh, CEO, has taken the competition head-on, leaving industry watchers surprised at its rapid pace of growth. Ghosh himself is a newcomer to the company, earlier having steered the Rs480 crore-Bajaj Allianz General Insurance Company to the second position in the Indian private sector insurance sector.In a span of just eight months, Bajaj Allianz Life (premium income Rs220 crore) has jumped three paces to occupy the fourth slot in the 13-strong life insurance industry. Today the company is in the midst of pursuing its twin corporate 'dream' goals to close this fiscal with a premium income of Rs750 crore and occupy the number three slot displacing the incumbent Birla Sun Life Insurance Company Limited. Given the daily collections over Rs1 crore and its month-on-month growth, the second may come true sooner. According to the Insurance Regulatory and Development Authority (IRDA) figures, the new premium difference between Bajaj Allianz Life and Birla Sun Life at the end of August 2004 was Rs37.5 crore. Rival Birla Sun Life has taken the threat seriously.

4. DATA ANALYSISANDINTERPRETATION

1. Following are the list of motivational factors.

Response/categorySr. SectionOfficerSr.SupervisorSr. IsaAssistantAccountsOfficerTotalPercentageOf total

Money

3100412

Job security

42321134

Promotion

102039

CareerDevelopment010126

Welfare measures

000000

Recognition &Reward3111618

Both career development & recognition &rewards100126

Both job security & carrier development200026

All the above

300039

Interpretation:

Data furnished in the above table reveals that 12% of the respondents feel that money as their motivational factor; the majority 34% opines that security as their factor for motivation; and surprisingly none voted for welfare measures; the second largest 18% of the people opted for recognition and rewards as their motivational factor; 6% of the respondents opine that both career development and recognition and rewards are the driving motivational factors at work; 6% of the respondents feel that job security and career development as the motivational factor; lastly 9% of the respondents voted for all the above factors which drives them to work as they factor of motivation.

2. Perception of staff regarding primary aim of the organization

Response/categorySr.SectionOfficer

Sr.SupervisorSr. IsaAssistantAccountsOfficerTotalPercentageTo total

Transportation112201547

Public service1021412

Utilization of it2120515

Profit making2101412

Checking accounts2011412

Interpretation:

From the above table and graph it is obvious that majority 47% of the respondents opine that transportation is the primary aim of their organization; 12% of the respondents feel that public service is the primary aim of their organization; 15% of the respondents feel it as utilization of it; 12% of the respondents agree that profit making as their primary aim of the organization whereas the remaining 12% feel it to be checking the accounts as the primary aim of their organization.

3. Employees at work place.

Response/categorySr.section officerSr.SupervisorSr.isaAssistantAccountsOfficerTotalPercentage to total

Happy

100126

Proud63101031

Good 1210412

Average101139

Satisfied2102515

Very satisfied010126

Mixed feelings1213721

Interpretation: From the above table it is obvious that6% of the respondents feel happy about the organization; the majority 31% feel proud of working in the organization; the second highest 12% of the people feel good about the organization; 9% of the respondents feel average about the organization;15%are satisfied of the organization which they are working for;6 % are very satisfied and the remaining 21% of the respondents have mixed feelings about their organization.

4. Involvement of the employees in the organization.Response/categorySr.section officerSr. Su1pervisorSr.isaAssistant accounts officerTotalPercentage to total

Good4212929

Very involved52211031

Moderate41231031

Not at all involved201039

Interpretation:

From the above data furnished it is clear that 29% of the respondents feel that the employees are good involve in the organization; the majority 31% respondents feel that the employees are very much involved in the organization;31% of respondents opine that the employees are moderately involved in the organization; and the least 9% feel that they are not at all involved in the organization.5. Effectiveness of employee participation in decision making.

Response/categorySr.section officerSr.SupervisorSr.isaAssistantAccountOfficerTotalPersentage to total

Yes53601444

No25471856

Interpretation:

From the data, it can be understood that majority of the respondents share different opinion towards their participation for effective decision making in the meetings, discussions arranged by the organization according to their requirement. From the table it can be analyzed that majority of the respondents i.e, 56% of the employees say no for their participation for effective decision making. And the remaining 44% of the respondents said yes because they felt that they can participate for the effective decision making.

6. Employee choice at work place

Response/ categorySr. Section officerSr. SupervisorSr. IsaAssistant accounts officerTotalPercentage to total

Yes

74231650

No

52361650

Interpretation:

When asked about freedom in choosing their work to employees, most of the responds agreed that they have enough freedom in choosing their work. The responds have equal opinion that is 50% of the total respondents said yes and the remaining 50% of them said no i.e , they have freedom in choosing their work according to their opinion. 7. Role of hr in the organization.Response / category Sr. Section officerSr. Supervisor Sr. Isa Assistant accounts officerTotal Percentage to total

100%101139

75%2120517

50%32541443

25%32321031

Interpretation:

From the above data it is clear that the majority 43% of the respondents opine that the employees role in the organization is only 50%; the least 9% of the respondents feel that there is role in the employees up to 100% the se second highest of the collected opinions is 31% that is the role of employees in the organization according to their opinion only 25%; 17% of the respondents agree that the there is role of employees in the organization up to 75%.8. List of approaches to motivate

Response/categorySr. SectionOfficerSr. SupervisorSr.isaAssistant AccountsOfficerTotalPercentageTo total

Awards

1035928

Rewards

3243928

Promotional channels Through ldc0123618

No comments

6110826

Interpretation:

Data furnished in the above table reveals that 18% of the respondents feel that promotional channels is one of the approach that the organization use to motivate the employees; the majority 28% of the respondents opines that awards is other approach to motivate the employee in the organization; 28% of the people agree that rewards as the approach which the organization use in order to motivate the employees; lastly 26% of the respondents are not willing to express their opinion to wards the various approaches used by the organization to motivate the employees.

9. Motivational challenges of employee.

Response/categorySr.SectionOfficerSr.SupervisorSr. IsaAssistantAccounts officerTotalPercentage

Personal issues

0231618

Educational back ground3100413

Competition among trade unions1130517

Reluctance against administration3410826

Bias in management decisions1322826

Interpretation:

Data furnished in the above table clearly shows that the 18% of the respondents opines that personal issues are the challenges to motivate the employees. The least 13% of the respondents agree that educational background is the one of the challenge used by the organization to motivate the employee. 17% of the respondents said that competition among trade unions is the challenge to motivate the employees. The majority of the respondents 26% opined that reluctance against administration is the important challenge for the organization to motivate the employee. The majority of the respondents 26% said bias in management decisions is the biggest challenge towards the management to motivate the employees.

10. Obstacles in employee performance Response/categorySr.section officer Sr.supervisorSr.isaAssistant accounts officerTotal Percentage to total

Stagnation, lethargy, growth prospects4111722

Lack of motivation and recognition 3042928

Decision taken by top authorities 2322928

Miscellaneous

4000413

No comments

200139

Interpretation:

From the above data it is clear that the majority 22% of the respondents opine that gnation, lethargy, growth prospects are the obstacles that stop employees performing to the majority 28% of the respondents feel that lack of recognition as the factor of obstacle stop employees performing the most; 28% of the respondents vote for the decision taken the top authorities is the key factor that plays in stopping them from performing to the best; of them agree that the miscellaneous factors play a major role in obstacles that stop them performing to the best; and not willing to give their opinion

11. Employee awareness of motivation and empowerment.Response/categorySr. Section officerSr.SupervisorSr. IsaAssistantAccountsOfficerTotalPercentageTo total

Yes62311237

Very little71131237

No knowledge2123826

Interpretation:Data furnished in the above table clearly shows that the majority 37% of the respondents agree that they know about the employee motivation and posses sufficient knowledge on the subject; 37% of the respondents feel that they are having a very little knowledge on the employee motivation; and the remaining 26% of the respondents feel that they dont have any knowledge of what exactly employee motivation is all about.

12. Employee empowerment.Response/categorySr.section officer Sr.supercisorSr.isaAssistant accounts officerTotalPercentage to total

Yes80111031

No3111618

Sometimes300039

Depends110026

No comments51231136

Interpretation:From the data furnished in the above table it is clear that the majority 31% of the respondents feel that they are empowered while contradicting to it 18% feel that they are not at all empowered; 9% of the employees feel that they are something empowered; 6% opine that the feeling of empowerment depends on the situation while the least 36% respondents are not willing to make any comments on this.13. Empowerment of employees in their performance.

Response/categorySr.section officerSr.suprevisorSr.isaAssistant accounts officerTotalPercentage to total

Recognition & rewards3310722

Delegation of authority 2101412

No empowerment2122722

Very little scope3112722

Accountability without suitability 010014

No link between pay & performance100126

Work schedule

200026

Miscellaneous

110026

Interpretation:It is obvious from the above table that 22% of the respondents opine that recognition & rewards are the empowering factors for their performance; 12% of the respondents agree that delegation of authority is the empowering factor for their performance; surprisingly 22% feel that there is no empowering factor at all in the organization; 22% respondents agree that there is s very little scope for empowerment; 4% opt for accountability without suitability as the empowerment factor; 6% say that there is no link between pay and performance; 6% of the respondents feel that work schedule as the factor of empowerment for their performance; 6% of the respondents opine miscellaneous as the empowerment factor for their performance.14. Employee recognition from superior.

Response/categorySr.section officerSr.supervisorSr.isaAssistant accounts officerTotalPercentage to total

Yes 53121136

No

1412826

Rarely

100014

Satisfied

300039

Through Monetary terms2020413

Depends

200026

No comments

101026

Interpretation:

From the above table it is clear that the majority 36% of the respondents vote that they have got the recognition from their supervisors whereas contradicting 26% say as no that they are not recognized from their supervisors; 4% of the respondents agree that they are rarely recognized for their work by the supervisors; 9% feel that they are satisfied with the kind of recognition that they are getting from their supervisors; 13% of the respondents agree that the fact that the recognition getting is in monitory terms; 6% of the respondents opine that the recognition is depended on the work and the situation; and lastly 6% are not willing to make any comments on this.

15. Job satisfaction of employee.

Response/categorySr.section officer Sr.supervisorSr.isaAssistant accounts officerTotalPercentage to total

Very satisfied

2430928

Satisfied

121121650

Dissatisfied

3121722

Very dissatisfied

000000

Interpretation:

Data furnished in the above table clearly gives the information that the 28% of the respondents feel that they are very much satisfied with their job; the majority 50% of the respondents opine that they are satisfied with their job; 22% of the respondents vote for dissatisfaction of the job while 0% of the respondents are very dissatisfied with their overall job satisfaction.

16. Employees need to be remind that their jobs are dependent on the companys ability to compete effectively

OPINIONNUMBER OF RESPONDENTSPERCENTAGES (%)

Strongly agree7676

Agree1010

Disagree88

Strongly disagree66

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the employees need to be remind that their jobs are dependent on the companys to complete effectively, (76%) as strongly agree, (10%) as agree, (8%) as Disagree, (6%) as strongly disagree.

17. Supervisors should give a good deal of attention of the physical working conditions of their employees OPINIONNUMBER OF RESPONDENTSPERCENTAGES (%)

Strongly agree4040

Agree2424

Disagree2020

Strongly disagree1616

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the supervisors should give a good deal of attention of the physical working conditions of their employees, (40%) as strongly agree, (24%) as agree, (20%) as Disagree, (16%) as strongly disagree.

18. Special wage hike should be given to employees who perform their jobs very well


Strongly agree9090

Agree66

Disagree44

Strongly disagree00

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the special wage hike, should be given to employees who do their jobs very well, (90%) as strongly agree, (6%) as agree, (4%) as Disagree, (0%) as strongly disagree.

19. Better job description would be helpful so that company will no exactly what is employees expected of them


Yes6969

No3131

Total100100

Inference:

From the about analysis we can say that out to of 100 Respondents given their opinion about the better job description would be useful,(69%)as Yes, (31%) as no.

20. How is an individual recognition for attaining standard performance in your organization


Strongly agree5050

Agree3333

Disagree44


Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about an individual recognition is necessary for attaining standard performance in their organization, (50%) as Excellent, (33%) as good, (4%) as Poor, (13%) as to some extent.

21. Indifferent supervision can often bruise feelings


Strongly agree4444

Agree5050

Disagree66

Strongly disagree00

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the indifferent supervision can often bruise feelings, (44%) as strongly agree, (50%) as agree, (6%) as Disagree, (0%) as strongly disagree.

22. The company retirement benefits and stock programs are important factors on their jobs


Strongly agree6060

Agree1919

Disagree1010


Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the company retirement benefits & stock programs are important factors in keeping employees on their jobs, (60%) as strongly agree, (19%) as agree, (10%) as Disagree, (11%) as strongly disagree.

23. Almost every job can be made most stimulating and challenging


Strongly agree5050

Agree4040

Disagree44

Strongly disagree66

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the every job can be made more stimulating challenging, (50%) as strongly agree, (40%) as agree, (4%) as Disagree, (6%) as strongly disagree.

24. Many employees want to give their best in very thing they do


Yes9999

No11

Total100100

Inference:

From the about analysis we can say that out to of 100 Respondents given their opinion about the many employees want to give their a best every thing they do, (99%) as yes (1%) as no.

25. Management could show more than interest in the employees by sponsoring Social events after hours OPINIONNUMBER OF RESPONDENTSPERCENTAGES (%)

Strongly agree3030

Agree4040

Disagree2222

Strongly disagree88

Total100100

Inference:From the about analysis we can say that out to of 100 Respondents given their opinion about the management need show more interested to the employees by sponsoring social events after hours, (30%) as strongly agree, (40%) as agree, (22%) as Disagree, (8%) as strongly disagree.

CHAPTER - 5

FINDINGS, SUGGESSTIONS & CONCLUSIONS

FINDINGS

It was found that:1. Job security is the highest motivation factor than any other.

2. The perception of the employee is high towards the aim of the organization i.e. Transportation3. The majority of the employees feel proud at work place.4. There is high involvement of the employee in the organization.

5. There is low participation of employees in decision making.

6. There is equal participation in work.

7. The role of hr in the organization is only 50%

8.Awards and rewards are the high rated approaches that which motivates employees.

9. Reluctance against administration and bias in management decisions are the Motivational challenges of employees.

10. Lack of motivation and recognition, decision taken by top authorities are the obstaclesthat stoop employees performing to the best.

11. Employees awareness of motivation and empowerment is very low.

12. There lie the similarities between the responses opined by the employees on recognition & rewards, no empowerment, very little scope. It shows that there is a lack of information towards the empowerment.

13. Majority of the employees discloses that there is staff recognition.

14. Majority of the employees opine that they are satisfied.

SUGGESTIONS

1. Employees should be identified by their better performance and should give some type of incentives, promotions etc. So that employee will be boosted up and will work better.

2. Promotions should be given to the basis of performance only.

3. Motivation should give in fair manner without showing any favourism to employee.

4. The Management creates a challenging work (or) new assignment (or) opportunity to develop the innovative idea of employee.

5. The motivation review discussion should be practiced well to encourage the open communication between both the appraiser and appraise.

6. The management should study motivation theories for better motivation.

7. The motivation should be unbiased and avoid being stereo-type while encouraging the employees.

CONCLUSIONS & RECOMMENDATIONS

Enthusiasm:The employees in the organization are lacking enthusiasm. The employees are working with out interest. The chef is the expert whereas cook is his follower. The cook will not have expertise likewise in this organization are like cooks. There is no proficiency, no expertise. The main problem with these employees is that they lack the item that is enthusiasm.The lack of enthusiasm is due to the following factors:i. Low interestii. Less motivationiii. Obstacles in performanceiv. Low empowerment

From the above conclusions, it would like to recommend a few suggestions to the organization:

Gearing hr activities:A satisfactory hr environment is essential in every organization for its successful functioning. The management must gear u-p the hr activities to create a favorable hr climate in the organization.

Welfare facilities:The existing welfare facilities may be improved. Facilities such aproductivity linked annual bonus, employees stock option schemes participative management may be improved.Motivation measures:

It is suggested that the organization introduce measures such as `suggestions scheme and quality circles. Also ,the management may conduct competitions to the employees on some important occasions, such as independence day, republic day, deewali, pongal, and during the celebrations of organization functions, such as `safety week/month, `quality week/month. These measures will benefit both the employees and the organization.

Imparting new knowledge:Due to recent changes in the trend, the employees must be made aware of the latest concepts, developments and improvements. For this purpose, the organization must arrange the training programs, guest lectures, seminars etc., to impart new knowledge to the employees. Also the management may sub bw travels be to technical and commercial journal and magazines and they may be placed in the library. Such activities will make the employees aware of new developments, and it will increase their efficiency, behavior, morale etc,

Highest motivational factor:Highest motivational factor which gives to the employee apart from job security is interest towards work or zeal towards work which is lacking in them. The interest towards work is to be developed by providing opportunity to learn new things, providing a unique learning culture and environment. The employees must be motivated to improve productivity.

Employee recognition:Employee recognition by his performance can be identified the talent and the competency. It is commended that talent nurturing is to be adopted and infrastructure also pays a vital role in motivating the employee.

CHAPTER - 6

BIBLIOGRAPHY

BIBLIOGRAPHY

Books1. L. M. Prasad principles and practice of management. New delhi: sultan chand & sons educational publishers, 2006.

Websites2. Journal of extension understanding employee motivation, www.joe.org.3. Business balls, employee motivation, www.businessballs.com.4. All business a d & b company, building morale, motivating and empowering employees. By weiss, w.h date: monday, january 1 2001,www.allbusiness.com/human-resources/workforce-management.

Magazines5. A hrd nesletter, a monthly publication of the national hrd network, www.nationalhrd.org, march 2008.

Questionnaire1. Following are the list of motivational factors.

Money

Job security

Promotion

Career development

Welfare measures

Recognition & reward

Both career development & recognition & rewards

Both security & carrier development

Both job security & carrier development

All the above

2. Perception of staff regarding primary aim of the organizationTransportation

Public service

Utilization of it

Profit making

Checking accounts

3. Employees at work place.Happy

Proud

Good

Average

Satisfied

Very satisfied

Mixed feelings

4. Involvement of the employees in the organization.Good

Very involved

Moderate

Not at all involved

5. Effectiveness of employee participation in decision making.

Yes

No

6. Employee choice at work place

Yes

No

7. Role of hr in the organization.100%

75%

50%

25%

8. List of approaches to motivateAwards

Rewards

Promotional channels Through ldc

No comments

9. Motivational challenges of employee.

Personal issues

Educational back ground

Competition among trade unions

Reluctance against administration

Bias in management decisions

10. Obstacles in employee performanceStagnation, lethargy, growth prospects

Lack of motivation and recognition

Decision taken by top authorities

Miscellaneous

No comments

10. Employee awareness of motivation and empowerment.

Yes

Very little

No knowledge

11. Employee empowerment.Yes

No

Sometimes

Depends

No comments

12. Empowerment of employees in their performance.Recognition & rewards

Delegation of authority

No empowerment

Very little scope

Accountability without suitability

No link between pay & performance

Work schedule

Miscellaneous

13. Employee recognition from superior.

Yes

No

Rarely

Satisfied

Through Monetary terms

Depends

No comments

15. Job satisfaction of employee.

a) Very satisfied

b)Satisfied

Dissatisfied

Very dissatisfied

16.Employees need to be remind that there jobs are dependent on the companys ability to compete effectively ( ) a. Strongly agree b. Agree c. Disagree d. strongly disagree

17. Supervisers should give a good deal of attention of the physical working conditions of their employees ( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

18 Special wage hike should be given to employees who perform their jobs very well( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

19.Better job description would be helpful so that company will no exactly what is employees expected of them ( ) a. Yes b. No

20. How is an individual recognition for attaining standard performance in your organization ( ) a. Good b. Poor c. Excellent d. Some extent

21. Indifferent supervision can often bruise feelings ( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

22. The company retirement benefits and stock programs are important factors on Their jobs ( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

23. Almost every job can be made most stimulating and challenging ( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

24. Many employees want to give their best in very thing they do ( ) a. Yes b. No25. Management could show more than interest in the employees by sponsoring social events after hours ( ) a. Strongly agree b. Agree c. Disagree d. Strongly disagree

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Documents

CMC-Employee Motivation- Bajaj Allianz