Job Satisfaction "Job satisfaction is defined as "the extent to which people like (satisfaction) or dislike (dissatisfaction) their jobs

" This definition suggests job satisfaction is a general or global affective react ion that individuals hold about their job. While researchers and practitioners m ost often measure global job satisfaction, there is also interest in measuring d ifferent "facets" or "dimensions" of satisfaction. Examination of these facet co nditions is often useful for a more careful examination of employee satisfaction with critical job factors. Traditional job satisfaction facets include: co-work ers, pay, job conditions, supervision, nature of the work and benefits." Job satisfaction, a worker's sense of achievement and success, is generally perc eived to be directly linked to productivity as well as to personal wellbeing. Jo b satisfaction implies doing a job one enjoys, doing it well, and being suitably rewarded for one's efforts. Job satisfaction further implies enthusiasm and hap piness with one's work. The Harvard Professional Group (1998) sees job satisfact ion as the keying redient that leads to recognition, income, promotion, and the achievement of other goals that lead to a general feeling of fulfillment. Importance to Worker and Organization Frequently, work underlies self-esteem and identity while unemployment lowers se lfworth and produces anxiety. At the same time, monotonous jobs can erode a work er's initiative and enthusiasm and can lead to absenteeism and unnecessary turno ver. Job satisfaction and occupational success are major factors in personal sat isfaction, selfrespect, self-esteem, and self-development. To the worker, job sa tisfaction brings a pleasurable emotional state that often leads to a positive w ork attitude. A satisfied worker is more likely to be creative, flexible, innova tive, and loyal. -1-

For the organization, job satisfaction of its workers means a work force that is motivated and committed to high quality performance. Increased productivityâ ”t he quantity and quality of output per hour workedâ ”seems to be a byproduct of i mproved quality of working life. It is important to note that the literature on the relationship between job satisfaction and productivity is neither conclusive nor consistent. However, studies dating back to Herzberg's (1957) have shown at least low correlation between high morale and high productivity, and it does se em logical that more satisfied workers will tend to add more value to an organiz ation. Unhappy employees, who are motivated by fear of job loss, will not give 1 00 percent of their effort for very long. Though fear is a powerful motivator, i t is also a temporary one, and as soon as the threat is lifted performance will decline. Tangible ways in which job satisfaction benefits the organization inclu de reduction in complaints and grievances, absenteeism, turnover, and terminatio n; as well as improved punctuality and worker morale. Job satisfaction is also l inked to a more healthy work force and has been found to be a good indicator of longevity. And although only little correlation has been found between job satis faction and productivity, Brown (1996) notes that some employers have found that satisfying or delighting employees is a prerequisite to satisfying or delightin g customers, thus protecting the "bottom line." No wonder Andrew Carnegie is quo ted as saying: "Take away my people, but leave my factories, and soon grass will grow on the factory floors. Take away my factories, but leave my people, and so on we will have a new and better factory" -2-

Creating Job Satisfaction So, how is job satisfaction created? What are the elements of a job that create job satisfaction? Organizations can help to create job satisfaction by putting s ystems in place that will ensure that workers are challenged and then rewarded f or being successful. Organizations that aspire to creating a work environment th at enhances job satisfaction need to incorporate the following: • • • Flexible work arrangements, possibly including telecommuting Training and other professional growth opportunities Interesting work that offers variety and chall enge and allows the worker opportunities to "put his or her signature" on the fi nished product Opportunities to use one's talents and to be creative Opportuniti es to take responsibility and direct one's own work A stable, secure work enviro nment that includes job security/continuity An environment in which workers are supported by an accessible supervisor who provides timely feedback as well as co ngenial team members Flexible benefits, such as child-care and exercise faciliti es Up-to-date technology Competitive salary and opportunities for promotion • • • • • • • Probably the most important point to bear in mind when considering job satisfact ion is that there are many factors that affect job satisfaction and that what ma kes workers happy with their jobs varies from one worker to another and from day to day. Apart from the factors mentioned above, job satisfaction is also influe nced by the employee's personal characteristics, the manager's personal characte ristics and management style, and the nature of the work itself. Managers who wa nt to maintain a high level of job satisfaction in the work force must try to un derstand the needs of each member of the work force. For example, when creating work teams, managers can enhance worker satisfaction by placing people with simi lar backgrounds, experiences, or needs in the same workgroup. Also, managers can enhance job satisfaction by carefully matching workers with the type -3-

of work. For example, a person who does not pay attention to detail would hardly make a good inspector, and a shy worker is unlikely to be a good salesperson. A s much as possible, managers should match job tasks to employees' personalities. Managers who are serious about the job satisfaction of workers can also take ot her deliberate steps to create a stimulating work environment. One such step is job enrichment. Job enrichment is a deliberate upgrading of responsibility, scop e, and challenge in the work itself. Job enrichment usually includes increased r esponsibility, recognition, and opportunities for growth, learning, and achievem ent. Large companies that have used job-enrichment programs to increase employee motivation and job satisfaction include AT&T, IBM, and General Motors (Daft, 19 97). Good management has the potential for creating high morale, high productivi ty, and a sense of purpose and meaning for the organization and its employees. E mpirical findings show that job characteristics such as pay, promotional opportu nity, task clarity and significance, and skills utilization, as well as organiza tional characteristics such as commitment and relationship with supervisors and co-workers, have significant effects on job satisfaction. These job characterist ics can be carefully managed to enhance job satisfaction. Of course, a worker wh o takes some responsibility for his or her job satisfaction will probably find m any more satisfying elements in the work environment. Everett (1995) suggests th at employees ask themselves the following questions: • • • • • When have I come closest to expressing my full potential in a work situation? Wh at did it look like? What aspects of the workplace were most supportive? What as pects of the work itself were most satisfying? What did I learn from that experi ence that could be applied to the present situation? -4-

Workers' Roles in Job Satisfaction If job satisfaction is a worker benefit, surely the worker must be able to contr ibute to his or her own satisfaction and well-being on the job. The following su ggestions can help a worker find personal job satisfaction: • Seek opportunities to demonstrate skills and talents. This often leads to more c hallenging work and greater responsibilities, with attendant increases in pay an d other recognition. • Develop excellent communication skills. Employers value and reward excellent rea ding, listening, writing, and speaking skills. Know more. Acquire new job-relate d knowledge that helps you to perform tasks more efficiently and effectively. Th is will relieve boredom and often gets one noticed. • • Demonstrate creativity and initiative. Qualities like these are valued by most o rganizations and often result in recognition as well as in increased responsibil ities and rewards. • Develop teamwork and people skills. A large part of job success is the ability t o work well with others to get the job done. Accept the diversity in people. Acc ept people with their differences and their imperfections and learn how to give and receive criticism constructively. See the value in your work. Appreciating t he significance of what one does can lead to satisfaction with the work itself. This helps to give meaning to one's existence, thus playing a vital role in job satisfaction. • • • Learn to de-stress. Plan to avoid burnout by developing healthy stressmanagement techniques. -5-

Assuring Job Satisfaction Assuring job satisfaction, over the longterm, requires careful planning and effo rt both by management and by workers. Managers are encouraged to consider such t heories as Herzberg's(1957) and Maslow's (1943) Creating a good blend of factors that contribute to a stimulating, challenging, supportive, and rewarding work e nvironment is vital. Because of the relative prominence of pay in the reward sys tem, it is very important that salaries be tied to job responsibilities and that pay increases be tied to performance rather than seniority. So, in essence, job satisfaction is a product of the events and conditions that people experience o n their jobs. Brief (1998) wrote: "If a person's work is interesting, her pay is fair, her promotional opportunities are good, her supervisor is supportive, and her coworkers are friendly, then a situational approach leads one to predict sh e is satisfied with her job" (p. 91). Very simply put, if the pleasures associat ed with one's job outweigh the pains, there is some level of job satisfaction -6-

COMPANY PROFILE Kotak Mahindra old mutual life insurance ltd. Is a joint venture between kotak M ahindra banks Ltd.? And old mutual plc. At kotak life insurance, we aim to help customers to take financial Decisions at every stage in life by offering them a wide range of innovative life insurance Products, to make them financial indepen dent11. Mr. Gorang shah is the managing director of kotak Mahindra old mutual li fe insurance limited. -7-

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KOTAK MAHINDRA GROUP Established in 1984, the Kotak Mahindra Group has long been one of India’s most reputed organizations in the financial services domain. Kotak Mahindra Group is committed for providing high quality financial products, services and support to its customers; and is structured in different businesses like Banking, Life Ins urance, Mutual Funds, Car Finance, Securities and Institutional equities. As on 31 st December 2006, the group stands at a net worth of around Rs. 3100 crore, e mployees around 9600 people in its various branches providing services at across 300 cities. The Group services around 2.2 million customer accounts11. OLD MUTUAL Plc. Old Mutual, a company with 160 years experience in life insurance, is an interna tional financial services group listed on the London Stock Exchange and included in the FTSE 100 list of companies, with assets under management worth $ 400 Bil lion as on 30th June, 2006. For customers, this joint venture translates into a company that combines international expertise with the understanding of the loca l market. The group has a substantial presence in the UK, US and South African m arkets. The company is also working in the field of asset management, banking an d general insurance services in over 40countries. As on 31 December 2005, Old Mu tual had more than 7 million life insurance policies, 3.6 million banking custom ers and over 5, 50,000 general insurance policies11. -9-

OTHER GROUP COMPANIES OF KOTAK LIFE INSURANCE KOTAK MAHINDRA BANK LTD KOTAK MAHINDRA CAPITAL COMPANY LTD INTERNATIONAL SUBSIDI ARIES KOTAK MAHINDRA PRIME LTD KOTAK SECURITIES LTD KOTAK MAHINDRA ASSET MANAGEM ENT COMPANY - 10 -

HISTORY OF KOTAK LIFE KOTAK MAHINDRA Old Mutual Life Insurance is a joint venture between KOTAK MAHIND RA Bank Ltd., along with its affiliates; and Old Mutual plc. Established in 1984 , the KOTAK MAHINDRA Group has long been one of India’s most reputed organizatio ns in the financial services domain. KOTAK MAHINDRA Group is committed for provi ding high quality financial products, services & support to its customers; and i s structured in different business like Banking, Life Insurance, Mutual Funds, C ar Finance, Securities, Institutional Equities and Investment banking. KOTAK MAH INDRA Finance Ltd. the flagship company of KOTAK MAHINDRA Group was converted in to KOTAK MAHINDRA Bank Ltd. in March 2003, making it the first NBFC to be offere d a banking license. As on 31 st December 2006, the group stands at a net worth of around Rs. 3100 crore, employing around 9600 people in its various business a nd has distribution network of branches, franchisees, representative offices in New York, London, Dubai and Mauritius. The group service around 2.2 million-cust omer accounts 11. - 11 -

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HISTORY OF INSURANCE Almost 4,500 years ago, in the ancient land of Babylonia, traders used to bear r isk of the caravan trade by giving loans that had to be later repaid with intere st when the goods arrived safely. In 2100 BC, the Code of Hammurabi granted lega l status to the practice. That, perhaps, was how insurance made its beginning. L ife insurance had its origins in ancient Rome, where citizens formed burial club s that would meet the funeral expenses of its members as well as help survivors by making some payments. As European civilization progressed, its social institu tions and welfare practices also got more and more refined. With the discovery o f new lands, sea routes and the consequent growth in trade, Medieval guilds took it upon themselves to protect their member traders from loss on account of fire , shipwrecks and the like. Since most of the trade took place by sea, there was also the fear of pirates. So these guilds even offered ransom for members held c aptive by pirates. Burial expenses and support in times of sickness and poverty were other services offered. Essentially, all these revolved around the concept of insurance or risk coverage. That s how old these concepts are, really. In 134 7, in Genoa, European maritime nations entered into the earliest known insurance contract and decided to accept marine insurance as a practice. - 14 -

 

The first step... Insurance as we know it today owes its existence to 17th century England. In fac t, it began taking shape in 1688 at a rather interesting place called Lloyd s Co ffee House in London, where merchants, ship-owners and underwriters met to discu ss and transact business. By the end of the 18th century, Lloyd s had brewed eno ugh business to become one of the first modern insurance companies. Insurance an d Myth... Back to the 17th century. In 1693, astronomer Edmond Halley constructe d the first mortality table to provide a link between the life insurance premium and the average life spans based on statistical laws of mortality and compound interest. In 1756, Joseph Dodson reworked the table, linking premium rate to age . Enter companies... The first stock companies to get into the business of insurance were chartered i n England in 1720. The year 1735 saw the birth of the first insurance company in the American colonies in Charleston, SC. In 1759, the Presbyterian Synod of Phi ladelphia sponsored the first life insurance corporation in America for the bene fit of ministers and their dependents. However, it was after 1840 that life insu rance really took off in a big way. The trigger: reducing opposition from religi ous groups. The growing years... - 15 -

 

 

The 19th century saw huge developments in the field of insurance, with newer pro ducts being devised to meet the growing needs of urbanization and industrializat ion. In 1835, the infamous New York fire drew people s attention to the need to provide for sudden and large losses. Two years later, Massachusetts became the f irst state to require companies by law to maintain such reserves. The great Chic ago fire of 1871 further emphasized how fires can cause huge losses in densely p opulated modern cities. The practice of reinsurance, wherein the risks are sprea d among several companies, was devised specifically for such situations. In the 19th century, many societies were founded to insure the life and health of their members, while fraternal orders provided low-cost, members-only insurance. Even today, such fraternal orders continue to provide insurance coverage to members as do most labor organizations. Many employers sponsor group insurance policies for their employees, providing not just life insurance, but sickness and acciden t benefits and oldage pensions. Employees contribute a certain percentage of the premium for these policies. In India... Insurance in India can be traced back t o the Vedas. For instance, yogakshema, the name of Life Insurance Corporation of India s corporate headquarters, is derived from the Rig Veda. The term suggests that a form of "community insurance" was prevalent around 1000 BC and practiced by the Aryans. Burial societies of the kind found in ancient Rome were formed i n the Buddhist period to help families build houses, protect widows and children . Bombay Mutual Assurance Society, the first Indian life assurance society, was formed in 1870. Other companies like Oriental, Bharat and Empire of India were a lso set up in the 1870-90s. - 16 -

 

 

It was during the swadeshi movement in the early 20th century that insurance wit nessed a big boom in India with several more companies being set up. As these co mpanies grew, the government began to exercise control on them. The Insurance Ac t was passed in 1912, followed by a detailed and amended Insurance Act of 1938 t hat looked into investments, expenditure and management of these companies fund s. By the mid-1950s, there were around 170 insurance companies and 80 provident fund societies in the country s life insurance scene. However, in the absence of regulatory systems, scams and irregularities were almost a way of life at most of these companies. As a result, the government decided nationalizes the life as surance business in India. The Life Insurance Corporation of India was set up in 1956 to take over around 250 life companies. For years thereafter, insurance re mained a monopoly of the public sector. It was only after seven years of deliber ation and debate - after the RN Malhotra Committee report of 1994 became the fir st serious document calling for the re-opening up of the insurance sector to pri vate players -- that the sector was finally opened up to private players in 2001 . The Insurance Regulatory & Development Authority, an autonomous insurance regu lator set up in 2000, has extensive powers to oversee the insurance business and regulate in a manner that will safeguard the interests of the insured17. - 17 -

 

 

FUTURE OF INSURANCE IN INDIA As per a recent report “Indian Insurance Industry Forecast (2007-2009)” publishe d by RNCOS, it has been found that “Life insurance market in India will likely r each around Rs 1683 Billion by the year 2009. Changing consumer behavior, GDP gr owth rate, changing socio economic demography, and natural calamities occurring from time to time will remain the key contributors in this growth.” April 2007, current FY’s first month, saw new businesses expand by 49%, whereas general insu rance players witnessed 16% increase during the same month. Outstanding performa nce of SBI Life, ICICI Prudential, and LIC helped the Indian life insurance indu stry in mopping up almost Rs 2,892 crore in April this year, whereas it was Rs 1 ,996 crore in the same month last year. On the other hand, Reliance Life, ING Vy sya, and Bajaj Allianz were amongst those insurers that came across a decline in their premium collection over the review period, as per the data compiled by In surance Regulatory & Development Authority16. Selling almost 15, 89,684 policies during this April, LIC - the largest life insurer in India -witnessed 57% growt h in its new premiums that reached to Rs 2,134 crore. LIC grabbed a market share of almost 71.56% during this April. Non-life or general insurance industry saw a growth of 16% during this month, and ICICI Lombard was the second largest play er in this segment. Business Standard published this in news on 14 June 2007. Lo oking at the current scenario, it can be made out that the four established publ ic-sector players namely, National Insurance, United India, Oriental Insurance, and New India Assurance, may have to face stiff competition from private players like Bajaj Allianz, Reliance General, and ICICI Lombard, as per Business Standa rd. - 18 -

According to RNCOS report “Indian Insurance Industry Forecast (2007-2009)”, “Per formance of life insurance industry remained better in comparison to non life se gment over the five year period spanning 2001-2005. Some qualitative factors, li ke the deregulation rate of insurance market, and implementation rate of technol ogies prevailing in the market, need to perform up to the industry expectations in order to improve the growth rate of Indian life insurance market.” This repor t provides an objective analysis of all aspects of Indian insurance industry. Th e issues addressed in this report include: prospective investment areas in India n life insurance industry, market strategies adopted by key players in this segm ent, opportunities and challenges present in this industry, and so on15. - 19 -

LIFE INSURANCE ADVANTAGES Some of the life insurance advantages offered by different types of Life Insuran ce Policies are: Life Insurance policies can help secure the future of childre n for college/educational purposes as the amount of life Insurance Policy increa ses on a minor’s or parent’s life. Life Insurance provides the option to pass equal assets to the children who are not active in the Family business at the ti me the family business is passed on. The growth of a cash-value policy is taxdeferred - you do not pay taxes on the cash value accumulation until you withdra w funds from the policy. Life Insurance helps retain your Business from the lo ss of a key employee. Untimely death of a key employee can pose severe financial loss to the business. A lot of Insurance products presently provide good retu rns, which could be a beneficial way for saving necessary funds for retirement y ears. Benefits are available immediately and may be used to help pay expenses such as final illness and funeral costs, eliminating the need to sell estate ass ets to cover these costs. A carefully signed Life Insurance Policy with desired ownership and beneficiary arrangements helps secure you and your family in the l ong term15. - 20 -

CORPORATE STRUCTURE - 21 -

FINANCIAL STRUCTURE - 22 -

LITERATURE REVIEW The literature survey conducted here include the academic books and website. the study being conducted was “to evaluate the effectiveness of recruitment and sel ection policy in relation with increasing attrition problem.” Gui L, Barriball K L, While AE. 2nd Military Medical University, School of Nursing, Shanghai, PR Ch ina. Job satisfaction among nurses is of concern throughout the world but the satisfa ction of nurse teachers has received less attention and no review of global rese arch on the topic has been published. A comprehensive literature review (1976-20 07) was undertaken from an international perspective (n=26 papers and 4 doctoral abstracts) to examine the state of knowledge about nurse teachers job satisfac tion over time. Coverage over the last 30 years was selected to examine if the l evel and contributing factors to nurse teachers job satisfaction have changed d uring a time which has seen considerable developments and reorganization of nurs e education as well as the role of nurse teachers. The purpose of this Part I pa per is to: (i) review the different measurements of job satisfaction, (ii) repor t the job satisfaction levels of nurse teachers and, (iii) identify the componen ts of job satisfaction of nurse teachers. This paper provides the foundation for the Part II paper which reviews the literature regarding the effects and relate d factors of nurse teachers job satisfaction. - 23 -

 

 

 

1. Prasad L.M. “Human resource management” pp219-purpose and importance of Recru itment & selection can not be ignored as by this org. 2. Bhattacharyya Kumar Dip ak, “Human resource management” Excel books pp166.-what is basically recruitment , its introduction, how to carry out recruitment.. 3. Dwivedi R.S. “Managing Hum an Resource, Personnel Management” (Indian enterprises, Galgotia publishing comp any, New delhi,1st edition, pp96-97 -what is a recruitment policy .what factors should be include while formulating. 4. Rao V.S.P, Human Resource Management”, E xcel books,1st edition,pp151. Importance of tests while selecting the candidates for the job, as these tests help the interviewer to better judge the candidate his competency for the particular jobs. 5. Bernardin John H, “Human Resource Man agement”, Tata Mc Graw Hill publishing company ltd., New Delhi, pp 160-163.the e ffectiveness of selection method depends upon the reliability of the data ,valid ity of the purpose & utility of the methods. 6. Gulati Ambika, “Training and Man agement”, vol3, aug07, pp18-19, Importance of recruitment function in an organis ation. 7. Gulati Ambika,” Training and Management”, vol3, june 07,pp46-4 changing role of Human Resource 8. Gulati Ambika, “Training and Management”,vol3 a single clic k for all recruitment solutions. - 24 -

9. Rao Janardhan N, “MBA Review”mar07,pp33-37.-Paradigam shifts in human resourc es. 10. Kothari C.B. “Research Methodology-Methods & Techniques”, new age intern ational research methodology - 25 -

OBJECTIVES OF THE STUDY • • • • • To find that whether the employees are satisfied or not. To analyse the company’s working environment. To check the Degree of satisfaction of employees. To find that they are satisfied with their job profile or not. To find that employees are working with their full capabilities or not. - 26 -

RESEARCH METHODOLOGY Research methodology is a way to systematically solve the problem. It may be und erstood has a science of studying how research is done scientifically. In it we study the various steps that all generally adopted by a researcher in studying h is research problem along with the logic behind them. The scope of research meth odology is wider than that of research method. Meaning of Research Research is d efined as “a scientific & systematic search for pertinent information on a speci fic topic”. Research is an art of scientific investigation. Research is a system ized effort to gain new knowledge. It is a careful inquiry especially through se arch for new facts in any branch of knowledge. The search for knowledge through objective and systematic method of finding solution to a problem is a research. RESEARCH DESIGN A research is the arrangement of the conditions for the collecti ons and analysis of the data in a manner that aims to combine relevance to the r esearch purpose with economy in procedure. In fact, the research is design is th e conceptual structure within which research is conducted; it constitutes the bl ue print of the collection, measurement and analysis of the data. As search the design includes an outline of what the researcher will do from writing the hypot hesis and its operational implication to the final analysis of data. The design is such studies must be rigid and not flexible and most focus attention on the f ollowing 2; - 27 -

Research Design can be categorized as: TYPES OF RESEARCH DESIGN EXPLORATORY RESEARCH DESIGN DESCRIPTIVE & DIAGNOSTIC RESEARCH DESIGN EXPERIMENTAL RESEARCH DESIGN The present study is exploratory in nature, as it seeks to discover ideas and in sight to brig out new relationship. Research design is flexible enough to provid e opportunity for considering different aspects of problem under study. It helps in bringing into focus some inherent weakness in enterprise regarding which in depth study can be conducted by management. - 28 -

DATA COLLECTION For any study there must be data for analysis purpose. Without data there is no means of study. Data collection plays an important role in any study. It can be collected from various sources. I have collected the data from two sources which are given below: 1. Primary Data • • • • Personal Investigation Observation Method Information from correspondent s Information from superiors of the organization 2. Secondary Data • Published Sources such as Journals, Government Reports, Newspapers and Magazin es etc. • Unpublished Sources such as Company Internal reports prepare by them g iven to their analyst & trainees for investigation. • Websites like KOTAK’S offi cial site, some other sites are also searched to find data. - 29 -

Scope Of The Study The scope of the study is very vital. Not only the Human Resource department can use the facts and figures of the study but also the marketing and sales departm ent can take benefits from the findings of the study. Scope for the sales department The sales department can have fairly good idea about their employees,tat they ar e satisfied or not. Scope for the marketing department The marketing department can use the figures indicating that they are putting th eir efforts to plan their marketing strategies to achieve their targets or not. Scope for personnel department Some customers have the complaints or facing problems regarding the job. So the personnel department can use the information to make efforts to avoid such compl aints. - 30 -

Sample Size :Questionare is filled by 20 employees of Kotak life Insurance, Kait hal. The questionnaire was filled in the office and vital information was collec ted which was then subjects to: A pilot survey was conducted before finalizing the questionnaire. Data collection was also done with the help of personal obs ervation. After completion of survey the data was analysed and conclusion was drawn. At the end all information was compiled to complete the project report. - 31 -

Analysis & Interpretation - 32 -

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I have been passed up at least once for a promotion in the past few years. 0% 20% 50% 30% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point , 20% o f employees are agree on the point, 30% are neither agree nor disagree,50% are d isagree and rest 0% of employees are strongly disagree. - 34 -

I spend parts of my day daydreaming about a better job. 10% 15% 0% 15% 60% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 60% of employees are strongly agree about the point , 15% of employees are agree on the point, 15% are neither agree nor disagree,10% are disagree and rest 0% of employees are strongly disagree. - 35 -

I find much of my job repetitive and boring. 10% 10% 5% 0% 75% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 75% of employees are strongly agree about the point , 10% of employees are agree on the point, 10% are neither agree nor disagree,5% are d isagree and rest 0% of employees are strongly disagree. - 36 -

I am mentally and/or physically exhausted at the end of a day at work. 5% 0% 10% 85% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 85% of employees are strongly agree about the point , 10% of employees are agree on the point, 5% are neither agree nor disagree,0% are di sagree and rest 0% of employees are strongly disagree. - 37 -

I feel that my job has little impact on the success of the company. 0% 20% 50% 30% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 50% of employees are strongly agree about the point , 30% of employees are agree on the point, 20% are neither agree nor disagree,0% are d isagree and rest 0% of employees are strongly disagree. - 38 -

I have an increasingly bad attitude toward my job, boss, and employer 0% 20% 20% 60% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point , 0% of employees are agree on the point, 20% are neither agree nor disagree,60% are di sagree and rest 20% of employees are strongly disagree. - 39 -

I am no longer given the resources I need to successfully do my job. 0% 10% 60% 30% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 10% of employees are strongly agree about the point , 30% of employees are agree on the point, 60% are neither agree nor disagree,0% are d isagree and rest 0% of employees are strongly disagree. - 40 -

I am not being used to my full capabilities. 0% 40% 40% 20% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point , 40% o f employees are agree on the point, 20% are neither agree nor disagree,40% are d isagree and rest 0% of employees are strongly disagree. - 41 -

I have received no better than "fair" evaluations recently. 0% 40% 25% 35% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 40% of employees are strongly agree about the point , 35% of employees are agree on the point, 25% are neither agree nor disagree,0% are d isagree and rest 0% of employees are strongly disagree. - 42 -

I feel as though my boss and employer have let me down. 0% 35% 10% 55% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point , 0% of employees are agree on the point, 10% are neither agree nor disagree,55% are di sagree and rest 35% of employees are strongly disagree. - 43 -

I often feel overworked and overwhelmed. 0% 35% 45% 20% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 45% of employees are strongly agree about the point, 20% o f employees are agree on the point, 35% are neither agree nor disagree,0% are di sagree and rest 0% of employees are strongly disagree. - 44 -

I am frequently stressed out at work. 0% 20% 50% 15% 15% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point, 20% of employees are agree on the point, 15% are neither agree nor disagree,15% are di sagree and rest 50% of employees are strongly disagree. - 45 -

I live for weekends and days away from the job. 0% 10% 60% 30% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point, 0% of employees are agree on the point, 10% are neither agree nor disagree,30% are dis agree and rest 60% of employees are strongly disagree. - 46 -

I find myself negatively comparing my situation to my peers. 0% 15% 20% 25% 40% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 0% of employees are strongly agree about the point, 15% of employees are agree on the point, 25% are neither agree nor disagree,40% are di sagree and rest 20% of employees are strongly disagree. - 47 -

I feel my bad days at work outweigh the good ones. 0% 45% 25% 30% Strongly Agree Strongly Disagree Agree Neither Agree nor Disagree Disagree This graph shows that 25% of employees are strongly agree about the point, 30% o f employees are agree on the point, 45% are neither agree nor disagree,0% are di sagree and rest 0% of employees are strongly disagree. - 48 -

I often experience a sensation of time standing still when I am at work. 0% 15% 20% 30% 35% Strongly Agree Strongly Disagree Agree Neither Agree nor Disagree Disagree This graph shows that 15% of employees are strongly agree about the point, 35% o f employees are agree on the point, 30% are neither agree nor disagree,20% are d isagree and rest 0% of employees are strongly disagree. - 49 -

I have been told that I am becoming a more cynical person. Strongly Agree 0% 35% 10% 25% Agree Neither Agree nor Disagree Disagree 30% Stro ngly Disagree This graph shows that 10% of employees are strongly agree about the point, 25% o f employees are agree on the point, 30% are neither agree nor disagree,35% are d isagree and rest 0% of employees are strongly disagree. - 50 -

I feel as though my employer has broken promises about my future with the organi zation. 0% 40% 10% 25% 25% Strongly Agree Strongly Disagree Agree Neither Agree nor Disagree Disagree This graph shows that 0% of employees are strongly agree about the point, 10% of employees are agree on the point, 25% are neither agree nor disagree,25% are di sagree and rest 40% of employees are strongly disagree. - 51 -

I have lost sight of my career goals and aspirations. 15% 0% 15% 25% 45% Strongly Agree Neither Agree nor Disagree Strongly Disagree Agree Disagree This graph shows that 15% of employees are strongly agree about the point, 25% o f employees are agree on the point, 45% are neither agree nor disagree,15% are d isagree and rest 0% of employees are strongly disagree. - 52 -

I no longer feel valued for my work. 10% 20% 25% 20% 25% Strongly Agree Strongly Disagree Agree Neither Agree nor Disagree Disagree This graph shows that 25% of employees are strongly agree about the point, 25% o f employees are agree on the point, 20% are neither agree nor disagree,20% are d isagree and rest 10% of employees are strongly disagree. - 53 -

Findings o Employees are not completely satisfied with their job although their salary is good enough. o Employes are not getting value to their work. o Most of employee s think that they are nt on their actual path. o Most of the employees think tha t the organization haven’t fulfill their promises,what they do in beginning espe cially regarding Promotion. o There is negatively comparison between peers espec ially regarding targets. o They often feel overworked. - 54 -

SUGGESTIONS AND RECOMMENDATIONS To increase the job satisfaction level of the employees the company should conce ntrate mainly on the incentive and reward structure rather than the motivational session. • • • Ideal employees should concentrate on their job. Educational qualification can be the factor of not an effective job. Company should give promotion to those employees who deserves it. - 55 -

LIMITATIONS OF STUDY However I shall try my best in collecting the relevant information for my resear ch report, yet there are always some problems faced by the researcher. The prime difficulties which I face in collection of information are discussed below:1. S hort time period: The time period for carrying out the research was short as a r esult of which many facts have been left unexplored. 2. Lack of resources: Lack of time and other resources as it was not possible to conduct survey at large level. 3. Small no. of respondents: Only 20 employees h ave been chosen which is a small number, to represent whole of the population. 4 . Unwillingness of respondents: While collection of the data many consumers were unwilling to fill the questionnaire. Respondents were having a feeling of wasta ge of time for them. 5. Small area for research: The area for study was Kaithal, which is quite a small area to judge job satisfaction level. - 56 -

BIBLIOGRAPHY BOOKS 1. Kothari C.R., Research Methodology, New Delhi; New Age International Publicat ion, second edition. 2. Ashwathapa K., Human Resource Management (third edition) , Tata Mc Graw Hill Publication Company Ltd. Page no. 81-136,171,179,267,284. 3. Chhabra. , T. N. Human Resource Management ,Dhanpat Rai $Co(P)Ltd. India,ninth edition. 4. Monnapa Arun., Human Resource Management ,Tata Mc Graw Hill Publicat ion Company Ltd. WEBSITES:a. www.kotaklifeinsurance.com/home/products b. www.kotak.com/coms2/prod uct-compint-0000950756-page.html c. www.irda.org/insurance/benefits-kotak,-ind d. www.ask.com-/meaning-insurance/history//e. www.ibef.org/industry/insurance-tr end/in - 57 -

ANNEXURE QUESTIONNAIRE NAME: …………………………………………. DESIGNATION: ………………………………. COMPANY: ……………………………………. 1. I have been passed up at least once for a promotion in the past few years. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 2. I spend parts of my day daydreaming about a better job. • • • • • Strongly Ag ree Agree Neither Agree nor Disagree Disagree Strongly Disagree 3. I find much of my job repetitive and boring. • • • • • Strongly Agree Agree N either Agree nor Disagree Disagree Strongly Disagree - 58 -

4. I am mentally and/or physically exhausted at the end of a day at work. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 5. I feel that my job has little impact on the success of the company. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 6. I have an increasingly bad attitude toward my job, boss, and employer . • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 7. I am no longer given the resources I need to successfully do my job. • • • St rongly Agree Agree Neither Agree nor Disagree - 59 -

• • Disagree Strongly Disagree 8. I am not being used to my full capabilities. • • • • • Strongly Agree Agree N either Agree nor Disagree Disagree Strongly Disagree 9. I have received no better than "fair" evaluations recently. • • • • • Strongl y Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 10. I feel as though my boss and employer have let me down. • • • • • Strongly A gree Agree Neither Agree nor Disagree Disagree Strongly Disagree 11. I often feel overworked and overwhelmed. • • Strongly Agree Agree - 60 -

• • • Neither Agree nor Disagree Disagree Strongly Disagree 12. I am frequently stressed out at work. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 13. I live for weekends and days away from the job. • • • • • Strongly Agree Agr ee Neither Agree nor Disagree Disagree Strongly Disagree 14. I find myself negatively comparing my situation to my peers. • • • • • Stron gly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 15. I feel my bad days at work outweigh the good ones. - 61 -

• • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 16. I often experience a sensation of time standing still when I am at work. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagre e 17. I have been told that I am becoming a more cynical person. • • • • • Strongl y Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree 18. I feel as though my employer has broken promises about my future with the or ganization. • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree - 62 -

• Strongly Disagree 19. I have lost sight of my career goals and aspirations. • • • • • Strongly Agr ee Agree Neither Agree nor Disagree Disagree Strongly Disagree 20. I no longer feel valued for my work. • • • • • Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree - 63 -

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