Employee Satisfaction at Kotak Life Insurance

EMPLOYEE JOB SATISFACTION @ KOTAK
A
PROJECT REPORT
ON
EMPLOYEE SATISFACTION
AT
(2015-2017)
Under supervision of
SUMITTED TO
Department of Business Administration

SRI SAI BABA NATIONAL DEGREE COLLEGE AND PG COLLEGE
(Anantapuram)
DECLARATION
SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 1

I, the undersigned, hereby declare that the project report entitled

“(EMPLOYEE SATISFACTION)” carried out at (company name).
Is my orginal work written and
submitted by me in partial fulfillment of Master of Business
Administration of
(college name). I also declare are that this project has not been
submitted earlier in
any other university or institution.
Place:
Date:

CHAPTE CHART OF CONTENTS PAGE NO

R
1 INTRODUCTION
1.1 Outline of the project
1.1.1 Need of the study
1.1.2 Scope of the study
1.1.3 Objectives of the study
1.1.4 Limitations of the study
1.1.5 Research methodology
1.1.6 Chapterisation
1.2 Review of literature
1.2.1 Company profile
1.2.2 Product profile
2 DATA ANALYSIS AND INTERPRETATION

2.1 Percentage Analysis
2.2 Statistical Tools
2.2.1 Chi-Square test
2.2.2 Rank correlation
SUMMARY AND CONCLUTION

3 3.1 Findings
3.2 Suggestions
3.3 Conclusions
ANNEXURE
4
QUESTIONNAIRE
5 REFERENCES
LISTOF CHARTS
S.NO PARTICULARS PAGE NO

2.1.1 AGE GROUP OF RESPONTENTS
2.1.2 GENDER OF THE RESPONTENTS
2.1.3 INCOME LEVEL OF RESPONTENTS

EXPERIENCE OF THE RESPONTENTS
2.1.4
2.1.5 EMPLOYEES BY CATEGORY

SATISFACTION OF THE RESPONTENTS WITH
2.1.6
THEIR SUPERVISION
2.1.7 RESPONTENTS OPINION ABOUT INCENTIVES
RESPONTENTS SATISFACTION REGARDING

2.1.8
GRIEVANCE HANDLING
SATISFACTION REGARDING VENTILATION
2.1.9
AND LIGHTING
THE TRAINING RECEIVED BY THE
2.1.10
EMPLOYEES
RESPONTENTS REGARDING COMFORCHART
2.1.11
AND SAFE WORK PLACE
RESPONTENTS RELATION WITH OTHER
2.1.12
EMPLOYEES
THE CHANCES OF PROMOTION TO THE
2.1.13
RESPONTENTS
RESPONTENTS TREATED WITH RESPECT BY
2.1.14
MANAGEMENT AND OTHER EMPLOYEES
SATISFACTION OF RESPONDENTS WITH
2.1.15
SUPERVISOR’S FEED BACK
THE EMPLOYEES HAS VOICE IN MAJOR
2.1.16 DECISION CHANGES IN THE WORK
ENVIRONMENT
THE DISTRIBUTION OF EMPLOYEES
2.1.17 PERSONAL LIFE UNDERSTOOD BY
MANAGEMENT
THE DISTRIBUTION OF EMPLOYEES STRESS
2.1.18
ON THEIR JOB

2.1.19 EMPLOYEES ARE ENCOURAGED TO NEW
AND MORE EFFICIENT WAYS TO DO THEIR
WORK
2.1.20 RESPONDENTS RECOMMENDS TO OTHERS
THEIR WORK
2.1.21 AT WHAT EXTENT EMPLOYEE SATISFACTION
WORK FOR THE COMPANY
2.1.22 EMPLOYEES RECEIVING APPROPRIATE

RECOGNITION FOR THEIR CONTRIBUTION
2.1.23 OVER ALL JOB SATISFACTION OF THE
EMPLOYEES COMPARED TO YEAR AGO
LIST OF CHART
2.1.1 AGE GROUP EF RESPONTENTS

2.1.2 GENDER OF THE RESPONTENTS
2.1.3
INCOME LEVEL OF RESPONTENTS
2.1.4 EXPERIENCE OF THE RESPONTENTS
2.1.5 EMPLOYEES BY CATEGORY
2.1.6 SATISFACTION OF THE RESPONTENTS WITH THEIR
SUPERVISION
2.1.7 RESPONTENTS OPINION ABOUT INCENTIVES
2.1.8 RESPONTENTS SATISFACTION REGARDING
GRIEVANCE HANDLING
2.1.9 SATISFACTION REGARDING VENTILATION AND
LIGHTING
2.1.1 THE TRAINING RECEIVED BY THE EMPLOYEES
0
2.1.1 RESPONTENTS REGARDING COMFORCHART AND SAFE
1 WORK PLACE
2.1.1 RESPONTENTS RELATION WITH OTHER EMPLOYEES
2
2.1.1 THE CHANCES OF PROMOTION TO THE RESPONTENTS
3
2.1.1 RESPONTENTS TREATED WITH RESPECT BY
4 MANAGEMENT AND OTHER EMPLOYEES

2.1.1 SATISFACTION OF RESPONDENTS WITH
5 SUPERVISOR’S FEED BACK
2.1.1 THE EMPLOYEES HAS VOICE IN MAJOR DECISION
6 CHANGES IN THE WORK ENVIRONMENT
2.1.1 THE DISTRIBUTION OF EMPLOYEES PERSONAL LIFE
7 UNDERSTOOD BY MANAGEMENT
2.1.1 THE DISTRIBUTION OF EMPLOYEES STRESS ON THEIR
8 JOB
2.1.1 EMPLOYEES ARE ENCOURAGED TO NEW AND MORE
9 EFFICIENT WAYS TO DO THEIR WORK
2.1.2 RESPONDENTS RECOMMENDS TO OTHERS THEIR

0 WORK
2.1.2 AT WHAT EXTENT EMPLOYEE SATISFACTION WORK
1 FOR THE COMPANY
2.1.2 EMPLOYEES RECEIVING APPROPRIATE RECOGNITION
2 FOR THEIR CONTRIBUTION
2.1.2 OVER ALL JOB SATISFACTION OF THE EMPLOYEES
3 COMPARED TO YEAR AGO
CHAPTER -I

INTRODUCTION
Introduction
A STUDY ON Employee Satsfaction At Kotak life insurance
"Employee Job Satisfaction level is defined as "the extent to which people like
(satisfaction) or dislike (dissatisfaction) their jobs"
This definition suggests Employee Job Satisfaction level is a general or global affective reaction
that individuals hold about their job. While researchers and practitioners most often measure
global Employee Job Satisfaction level, there is also interest in measuring different "facets" or
"dimensions" of satisfaction. Examination of these facet conditions is often useful for a more
careful examination of employee Job satisfaction with critical job factors. Traditional Employee
Job Satisfaction level facets include: co-workers, pay, job conditions, supervision, nature of the
work and benefits."
Employee Job Satisfaction level, a worker's sense of achievement and success, is
generally perceived to be directly linked to productivity as well as to personal wellbeing.
Employee Job Satisfaction level implies doing a job one enjoys, doing it well, and being suitably
rewarded for one's efforts. Employee Job Satisfaction level further implies enthusiasm and

happiness with one's work. The Harvard Professional Group (1998) sees job satisfaction 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 self-
worth and produces anxiety. At the same time, monotonous jobs can erode a worker's initiative
and enthusiasm and can lead to absenteeism and unnecessary turnover. Employee Job Satisfaction
level and occupational success are major factors in personal satisfaction, self-respect, self-esteem,
and self-development. To the worker, Employee Job Satisfaction level brings a pleasurable
emotional state that often leads to a positive work attitude. A satisfied worker is more likely to be
creative, flexible, innovative, and loyal.
For the organization, Employee Job Satisfaction level of its workers means a work force that is
motivated and committed to high quality performance. Increased productivity the quantity and
quality of output per hour worked seems to be a byproduct of improved quality of working life. It
is important to note that the literature on the relationship between Employee Job Satisfaction level
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
seem logical that more satisfied workers will tend to add more value to an organization. Unhappy
employees, who are motivated by fear of job loss, will not give 100 percent of their effort for very
long. Though fear is a powerful motivator, it is also a temporary one, and as soon as the threat is
lifted performance will decline.
Tangible ways in which Employee Job Satisfaction level benefits the organization include
reduction in complaints and grievances, absenteeism, turnover, and termination; as well as
improved punctuality and worker morale. Employee Job Satisfaction level is also linked 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 Employee Job Satisfaction level and productivity, Brown
(1996) notes that some employers have found that satisfying or delighting employees is a
prerequisite to satisfying or delighting customers, thus protecting the "bottom line." No wonder
Andrew Carnegie is quoted 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 soon we
will have a new and better factory"
Employee Job Satisfaction level in regards to one’s feeling or state of mind regarding
nature of their work. Job can be influenced by variety of factors like quality of one’s relationship
with their supervisor, quality of physical environment in which they work, degree of fulfillment in
their work, etc.
Positive attitude towards job are equivalent to Employee Job Satisfaction level where as
negative attitude towards job has been defined variously from time to time. In short Employee Job
Satisfaction level is a person’s attitude towards job.
Employee Job Satisfaction level is an attitude which results from balancing & summation

of many specific likes and dislikes experienced in connection with the job- their evaluation may
rest largely upon one’s success or failure in the achievement of personal objective and upon
perceived combination of the job and combination towards these ends.
According to pestonejee, Employee Job Satisfaction level can be taken as a summation of
employee’s feelings in four important areas. These are:
Job-nature of work (dull, dangerous, interesting), hours of work, fellow workers, opportunities on
the job for promotion and advancement (prospects), overtime regulations, interest in work,
physical environment, and machines and tools.
Management- supervisory treatment, participation, rewards and punishments, praises and blames,
leaves policy and favoritism.
Social relations- friends and associates, neighbors, attitudes towards people in community,
participation in social activity social liability and caste barrier.
Employee Job Satisfaction level is an important indicator of how employees feel about their job
and a predictor of work behavior such as organizational citizenship, Absenteeism, Turnover.
Employee Job Satisfaction level benefits the organization includes reduction in
complaints and grievances, absenteeism, turnover, and termination; as well as improved
punctuality and worker morale. Employee Job Satisfaction level is also linked with a healthier
work force and has been found to be a good indicator of longevity.
Employee Job Satisfaction level is not synonyms with organizational morale, which the
possessions of feeling have being accepted by and belonging to a group of employees through
adherence to common goals and confidence in desirability of these goals.
Morale is the by-product of the group, while Employee Job Satisfaction level is more an
individual state of mind.
DEFINITIONS OF Employee Job Satisfaction level
Different authors give various definitions of Employee Job Satisfaction level. Some of them are
taken from the book of D.M. Pestonjee “Motivation and Employee Job Satisfaction level” which
are given below:
Employee Job Satisfaction level is defined as a pleasurable, emotional, state
resulting from appraisal of one’s job. An effective reaction to one’s job.
According to Weiss “Employee Job Satisfaction level is general attitude, which is the
result of many specific attitudes in three areas namely:
Specific job factors Individual characteristics Group relationship outside the job”.
According to Blum and Naylor “Employee Job Satisfaction level is defined, as it is result of
various attitudes the person holds towards the job, towards the related factors and towards the life
in general”.
According to GlimmerEmployee Job Satisfaction level is defined as “any contribution,
psychological, physical, and environmental circumstances that cause a person truthfully say, ‘I am
satisfied with my job.”

Employee Job Satisfaction level is defined, as employee’s judgment of how well his job on a
whole is satisfying his various needs
According to Mr. Smith “Employee Job Satisfaction level is defined as a pleasurable or
positive state of mind resulting from appraisal of one’s job or job experiences.”
HISTORY OF Employee Job Satisfaction level
The term Employee Job Satisfaction level was brought to lime light by hoppock (1935). He
revived 35 studies on Employee Job Satisfaction level conducted prior to 1933 and observes that
Employee Job Satisfaction level is combination of psychological, physiological and environmental
circumstances. That causes a person to say. “I m satisfied with my job”. Such a description
indicate the variety of variables that influence the satisfaction of the individual but tell us nothing
about the nature of Employee Job Satisfaction level.
Employee Job Satisfaction level has been most aptly defined by pestonjee (1973) as a job,
management, personal adjustment & social requirement. Morse (1953) considers Employee Job
Satisfaction level as dependent upon job content, identification with the co., financial & job status
& priding group cohesiveness
One of the biggest preludes to the study of Employee Job Satisfaction level was the
Hawthorne study. These studies (1924-1933), primarily credited to Elton
Mayo of the Harvard Business School, sought to find the effects of various conditions (most
notably illumination) on workers’ productivity.
These studies ultimately showed that novel changes in work conditions temporarily
increase productivity (called the Hawthorne Effect). It was later found that this increase resulted,
not from the new conditions, but from the knowledge of being observed.
This finding provided strong evidence that people work for purposes other than pay,
which paved the way for researchers to investigate other factors in Employee Job Satisfaction
level.
Scientific management (aka Taylorism) also had a significant impact on the study of
Employee Job Satisfaction level. Frederick Winslow Taylor’s 1911 book, Principles of Scientific
Management, argued that there was a single best way to perform any given work task. This book
contributed to a change in industrial production philosophies, causing a shiftfrom skilled labor and
piecework towards the more modern approach of assembly lines and hourly wages.
The initial use of scientific management by industries greatly increased productivity
because workers were forced to work at a faster pace. However, workers became exhausted and
dissatisfied, thus leaving researchers with new questions to answer regarding Employee Job
Satisfaction level.
It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set
the tone for Taylor’s work.
Some argue that Maslow’s hierarchy of needs theory, a motivation theory, laid the
foundation for Employee Job Satisfaction level theory. This theory explains that people seek to
satisfy five specific needs in life – physiological needs, safety needs, social needs, self-esteem

needs, and self-actualization.
This model served as a good basis from which early researchers could develop Employee
Job Satisfaction level theories.
IMPORTANCE OF Employee Job Satisfaction level

Employee Job Satisfaction level is an important indicator of how employees feel about
their job and a predictor of work behavior such as organizational, citizenship, Absenteeism,
Turnover.
Employee Job Satisfaction level can partially mediate the relationship of personality
variables and deviant work behavior.Common research finding is that Employee Job Satisfaction
level is correlated with life style.This correlation is reciprocal meaning the people who are
satisfied with the life tends to be satisfied with their jobs and the people who are satisfied
their jobs tends to satisfied with their life.
This is vital piece of information that is Employee Job Satisfaction level and job
performance is directly related to one another. Thus it can be said that, “A happy worker is a
productive worker.”It gives clear evidence that dissatisfied employees skip work more often and
more like to resign and satisfied worker likely to work longer with the organization.
IMPORTANCE TO WORKER AND ORGANIZATION
Employee Job Satisfaction level and occupational success are major factors in personal
satisfaction, self-respect, self-esteem, and self-development. To the worker, Employee Job
Satisfaction level brings a pleasurable emotional state that can often leads to a positive work
attitude. A satisfied worker is more likely to be creative, flexible, innovative, and loyal.
For the organization, Employee Job Satisfaction level of its workers means a work force that is
motivated and committed to high quality performance.
Increased productivity- the quantity and quality of output per hour worked- seems to be a
byproduct of improved quality of working life. It is important to note that the literature on the
relationship between Employee Job Satisfaction level 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 seem logical that more satisfied workers
will tend to add more value to an organization.
Unhappy employees, who are motivated by fear of loss of job, will not give 100 percent
of their effort for very long. Though fear is a powerful motivator, it is also a temporary one, and
also as soon as the threat is lifted performance will decline.
Employee Job Satisfaction level benefits the organization includes reduction in
complaints and grievances, absenteeism, turnover, and termination; as well as improved
punctuality and worker morale. Employee Job Satisfaction level is also linked with a healthier
work force and has been found to be a good indicator of longevity.
Although only little correlation has been found between Employee Job Satisfaction level

and productivity, Brown (1996) notes that some employers have found that satisfying or delighting
employees is a prerequisite to satisfying or delighting customers, thus protecting the “bottom
line”.
WORKERS ROLE IN Employee Job Satisfaction level
If Employee Job Satisfaction level is a worker benefit, surely the worker must be able to
contribute to his or her own satisfaction and wellbeing on the job. The following suggestions can
help a worker find personal Employee Job Satisfaction level: Seek opportunities to demonstrate
skills and talents. This often leads to more challenging work and greater responsibilities, with
attendant increases in pay and other recognition.Develop excellent communication skills.
Employer’s value and rewards excellent reading, listening, writing and speaking skills Know
more. Acquire new job related knowledge that helps you to perform tasks more efficiently and
effectively. This will relive boredom and often gets one noticed.Demonstrate creativity and
initiative. Qualities like these are valued by most organizations and often results in recognition as
well as in increased responsibilities and rewards.Develop teamwork and people skills. A large part
of job success is the ability to work well with others to get the job done.
Accept the diversity in people. Accept people with their differences and their
imperfections and learn how to give and receive criticism constructively.See the value in your
work. Appreciating the significance of what one does can lead to satisfaction with the work itself.
This help to give meaning to one’s existence, thus playing a vital role in Employee Job
Satisfaction level. Learn to de-stress. Plan to avoid burn out by developinghealthy stress
management techniques.
FACTORS OF Employee Job Satisfaction level
Hop pock, the earliest investigator in this field, in 1935 suggested that there are
six major components of Employee Job Satisfaction level. These are as under:
The way the individual reacts to unpleasant situations,
The facility with which he adjusted himself with other person The relative status in the social and
economic group with which he identifies himself
The nature of work in relation to abilities, interest and preparation of worker Security
Loyalty Herberg, mausaer, Peterson and capwell in 1957 reviewed more than 150 studies and
listed various job factors of Employee Job Satisfaction level. These are briefly defined one by one
as follows:
1. Intrinsic aspect of job
It includes all of the many aspects of the work, which would tend to be constant for the work
regardless of where the work was performed.
2. Supervision
This aspect of Employee Job Satisfaction level pertains to relationship of worker with his
immediate superiors. Supervision, as a factor, generally influences Employee Job Satisfaction
level.
3. Working conditions

This includes those physical aspects of environment which are not necessary a part of the work.
Hours are included this factor because it is primarily a function of organization, affecting the
individuals comfort and convenience in much the same way as other physical working conditions.
4. Wage and salaries
This factor includes all aspect of job involving present monitory remuneration for work done.
5. Opportunities for advancement
It includes all aspect of job which individual sees as potential sources of betterment of economic
position, organizational status or professional experience.
6. Security
It is defined to include that feature of job situation, which leads to assurance for continued
employment, either within the same company or within same type of work profession.
7. Company & management
It includes the aspect of worker’s immediate situation, which is a function of organizational
administration and policy. It also involves the relationship of employee with all company superiors
above level of immediate supervision.
8. Social aspect of job
It includes relationship of worker with the employees specially those employees at same or nearly
same level within the organization.
9. Communication
It includes job situation, which involves spreading the information in any direction within the
organization. Terms such as information of employee’s status, information on new developments,
information on company line of authority, suggestion system, etc, are used in literature to
represent this factor.
Benefits:
It includes those special phases of company policy, which attempts to prepare the worker for
emergencies, illness, old age, also. Company allowances for holidays, leaves and vacations are
included within this factor.
REASONS OF LOW Employee Job Satisfaction level
Reasons why employees may not be completely satisfied with their jobs:
Conflict between co-workers.
Conflict between supervisors. Not being opportunity paid for what they do.
Have little or no say in decision making that affect employees.
Fear of loosing their job.

EFFECTS OF LOW Employee Job Satisfaction level

1.HIGH ABSENTEEISM
Absenteeism means it is a habitual pattern of absence from duty or obligation.
If there will be low Employee Job Satisfaction level among the employees the rate of absenteeism will
definitely increase and it also affects on productivity of organization.
2.HIGH TURNOVER
In human resource refers to characteristics of a given company or industry relative to the rate at which
an employer gains and losses the staff.
If the employer is said to be have a high turnover of employees of that company have shorter tenure
than those of other companies.
3.TRAINING COST INCREASES
As employees leaves organization due to lack of Employee Job Satisfaction level. Then Human
resource manager has to recruit new employees. So that the training expenditure will increases.
INFLUENCES ON Employee Job Satisfaction level
There are no. of factors that influence Employee Job Satisfaction level. For example, one recent study
even found that if college students majors coinsided with their job , this relationship will predicted
subsequent Employee Job Satisfaction level.
However, the main influences can be summarized along with the dimensions identified above.
The work itself
The concept of work itself is a major source of satisfaction. For example, research related to
the job characteristics approach to job design, shows that feedback from job itself and autonomy are
two of the major job related motivational factors. Some of the most important ingredients of a
satisfying job uncovered by survey include interesting and challenging work, work that is not boring,
and the job that provides status.
Pay Wages and salaries are recognized to be a significant, but complex, multidimensional factor in
Employee Job Satisfaction level. Money not only helps people attain their basic needs bedevil need
satisfaction. Employees often see pay as a reflection of how management view their contribution to the
organization. Fringe benefits are also important.
If the employees are allowed some flexibility in choosing the type of benefits they prefer within a total
package, called a flexible benefit plan, there is a significant increase in both benefit satisfaction and
overall Employee Job Satisfaction level.
Promotions
Promotional opportunities are seem to be haveavarying effect on Employee Job Satisfaction level. This
is because of promotion take number of different forms.
WHAT IS THE IMPACT OF Employee Job Satisfaction level?
Many managers subscribe to the belief that a satisfied worker is necessarily good worker. In
other words, if management could keep the entire worker’s happy”, good performance would

automatically fallow. There are two propositions concerning the satisfaction performance relationship.
The first proposition, which is based on traditional view, is that satisfaction is the effect rather than the
cause of performance. This proposition says that efforts in a job leads to rewards, which results in a
certain level of satisfaction .in another proposition, both satisfaction and performance are considered
to be functions of rewards.
Various research studies indicate that to a certain extent Employee Job Satisfaction level
affects employee turn over, and consequently organization can gain from lower turnover in terms of
lower hiring and training costs. Also research has shown an inverse relation between Employee Job
Satisfaction level and absenteeism. When Employee Job Satisfaction level is high there would be low
absenteeism, but when Employee Job Satisfaction level is low, it is more likely to lead a high
absenteeism.
What Employee Job Satisfaction level people need?
 Job security for himself and his family
 Good wages
 Adequate benefits
 Opportunity to advance
Each employee wants:
Recognition as an individual Meaningful task.
An opportunity to do something worthwhile.
No arbitrary action- a voice a matters affecting him
Satisfactory working conditions
Competence leadership- bosses whom he can admire and respect as persons and as bosses.
However, the two concepts are interrelated in that Employee Job Satisfaction level can
contribute to morale and morale can contribute to Employee Job Satisfaction level.
It must be remembered that satisfaction and motivation are not synonyms. Motivation is a drive to
perform, whereas satisfaction reflects the individual’s attitude towards the situation. The factors that
determine whether individual is adequately satisfied with the job differs from those that determine
whether he or she is motivated. the level of Employee Job Satisfaction level is largely determined by
the comfits offered by the environment and the situation . Motivation, on the other hand is largely
determine by value of reward and their dependence on performance. The result of high Employee Job
Satisfaction level is increased commitment to the organization, which may or may not result in better
performance.
A wide range of factors affects an individual’s level of satisfaction. While organizational
rewards can and do have an impact, Employee Job Satisfaction level is primarily determine by factors
that are usually not directly controlled by the organization. a high level of Employee Job Satisfaction
level lead to organizational commitment, while a low level, or dissatisfaction, result in a behavior

detrimental to the organization. For example, employee who like their jobs, supervisors, and the
factors related to the job will probably be loyal and devoted. People will work harder and derive
satisfaction if they are given the freedom to make their own decisions.
MODELS OF Employee Job Satisfaction level
There are various methods and theories of measuring Employee Job Satisfaction of employees
in the organization given by different authors.
List of all the theories and methods measuring Employee Job Satisfaction is given below:
Affect theory (Edwin A. Locke 1976)
Dispositional Theory (Timothy A. Judge 1988)
Two-Factor Theory (Motivator-Hygiene Theory) (Frederick Herzberg’s)
Job Characteristics Model (Hackman & Oldham)
Rating scale, Personal interviews, action tendencies, Job Enlargement, Job Rotation Change of pace,
Scheduled rest periods.
Creating Employee Job Satisfaction level
So, how is Employee Job Satisfaction level created? What are the elements of a job that create
Employee Job Satisfaction level? Organizations can help to create Employee Job Satisfaction level by
putting systems in place that will ensure that workers are challenged and then rewarded for being
successful.
Organizations that aspire to creating a work environment that enhances Employee Job
Satisfaction level need to incorporate the following:
 Flexible work arrangements, possibly including telecommuting
 Training and other professional growth opportunities
 Interesting work that offers variety and challenge and allows the worker opportunities to "put
his or her signature" on the finished product
 Opportunities to use one's talents and to be creative
 Opportunities to take responsibility and direct one's own work
 A stable, secure work environment that includes job security/continuity
 An environment in which workers are supported by an accessible supervisor who provides
timely feedback as well as congenial team members
 Flexible benefits, such as child-care and exercise facilities
 Up-to-date technology
 Competitive salary and opportunities for promotion


INDUSTRY PROFILE
AND
COMPANY PROFILE
INDUSTRY PROFILE
The industries, businesses and individuals are considerably by the services of insurance
organization.
A. The oldest form of insurance (12th century) is marine insurance. After wards in 16th
century fire insurance is started in Germany.

B. The first registered life office was Hand in Hand Society established in 1696.
C. In India the first life insurance was started in the Bengal Presidency in 1818 knows
as oriental life insurance company.
D. Experiencing so many ups and downs the insurance business was found in
changed shapes. Particularly after attaining independence and to the more specific
after nationalizing in 1956.
E. There was major change in the insurance sector after globalization in 2001. The
private player in the insurance industry and ends the dominance of LIC.
F. The different MNC s company of foreign country enters in the insurance industry
with the joint venture with Indian companies. Today total 11 private life insurance
companies are working in insurance industry.

HISTORY
1912: the Indian Life Assurance Companies Act enacted as the first stature to regulate the
life insurance business.
1928: the Indian Insurance Companies Act enacted to the government to collect statistical
information about both life and non life insurance businesses.
1938: Earlier legislation consolidated and amended to 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 core from the Government of India.
INSURANCE SECTOR REFORMS:

1) Structure: Government stake in the insurance companies to be brought down to
50%.
2) 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 though a single entity. Foreign companies may be allowed to enter
the industry in collection with the domestic companies. Postal Life Insurance Should
be allowed to operate in the rural market. Only One State Life Insurance Company
should be allowed to operate in each stat
3) 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.
4) Investments : Mandatory Investment of LIC Life Fund in government
securities to be reduced from 75% to 50%.

5) 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. The committee emphasized that in order to improve the
customer services and increase the coverage of the insurance; industry should be
opened up to competition.

ENTRANCE OF PRIVATE PLAYERS IN INSURANCE SECTORS

India still has low insurance penetration of 1.95 percent, 51st in the world. Despite the fact
that India boosts a saving rate of around 25 percent, less than 5 percent is spent on
insurance.
The insurance landscape in India is undergoing major changes. Close to foreign

competition since nationalization in 1956, the life insurance industry had been protected
from competitive pressures. Now, with the reopening of the sector, several new players
have entered the scene.
The acronym for the Insurance Regulatory and Development authority of India, it
overseeing the insurance business in India. It protects the interests of the policyholders
received and ensures orderly growth of the insurance industry and for matters connected
there thereto.
Beside Kotak Mahindra Life Insurance there are other 11 private players working in life
insurance sector, which are as follows.
Allianz Bajaj Life Insurance Company Ltd.

Allianz Bajaj Life Insurance Company Ltd. is a joint venture between Allianz AG
(Largest insurer in Europe) and Bajaj Auto Ltd. incorporated on 12th march 2001.
AMP Sanmar Assurance Company Ltd.

AMP Sanmar Assurance Company Ltd. is a joint venture between AMP, largest life
insurer in Australia and New Zealand, Sanmar is one of the largest industrial groups in
South India dealing in chlorochemicals and shipping and Engineering.

Aviva Life Insurance Company Ltd.

Aviva Life Insurance Company Ltd. is a joint venture between Dabur India and CGU, is a
wholly subsidiary of Aviva Plc (UK).
BI Life Insurance Company Ltd.

India s largest bank SBI and Cardiff S.A, a leading insurer in France came together to
from SBI Life.
Tata Life Insurance Company Ltd.

Tata Life Insurance Company Ltd. is capitalized at Rs. 185 crore; of which 74% has been
brought in by TATA Sons and the American partner bring the balance 26%.
ICICI Prudential Life Insurance Company Ltd.

ICICI Prudential equity based stands at Rs. 675 Cr. With ICICI group and Prudential Plc
holding 74% and 26% stake respectively.
Birla Sun Life Insurance Company Ltd.

Birla Sun Life Insurance Company is a 74:26 joint venture between Aditya Birla Group
and sun life financial services of Canada.
HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. was one of the first companies to be
granted license by the IRDA to operate in life insurance sector. It was incorporated on
14th august 2000. HDFC is the majority stakeholder in insurance JV with 81.4% stake and
Standard life (largest mutual assurance company in Europe) has a stake of 18.6%.

ING Vysya Life Insurance Company Ltd.

ING Vysya Life Insurance Company Ltd. is expected to be first bank assurance venture in
the country. Together they have roped in GMR group, which has wide-ranging interests in
field such as power generation infrastructure, manufacturing, software and banking. As
per JV agreement Vysya bank would hold 49% stake, ING (Europe, Dutch origin) 26%
and GMR group would hold 25% of the stake.
MAX New York Life Insurance Company Ltd.

It s a partnership between MAX India ltd and New York life, a Fortune 100 company.
Met Life India Insurance Company Ltd.

It was incorporated in April 2001 as a joint venture between Met Life International
Holding, Inc, Jammu & Kashmir bank, and M. Pallonji and company private Ltd.

COMPANY PROFILE

INTRODUCTION OF KOTAK MAHINDRA GROUP

COMPANY’S PROFILE
Established in 1984, The Kotak Mahindra Group has long been one of
India’s most reputed financial organizations. In Feb 2003, Kotak Mahindra
Finance ., the group’s flagship company was given the license to carry on banking
business by the Reserve Bank of India (RBI).This approval creates banking history since
Kotak Mahindra Finance is the first company in India to convert to a bank. The license
authorizing the bank to carry on banking business has been obtained from the RBI in tune
with Section 22 often Banking Regulation Act 1949.
KMBL was promoted by Mr. Uday.S.Kotak, Kotak and Company and Mr. Sidney
&A.A.Pinto under the name of Kotak Capital STATEMENT Finance on 21st Nov 1985
and obtained a Certificate of CommenBank of Business on 11th Feb 1986.
The bank customers have access to entire VISA network of 4500 ATM’S in India
and 800000ATM’S worldwide accepted in more than 56000establishments across India
and 10 million worldwide. The customer also has access to over 800 ATM’s with sharing
arrangements with UTI BANK, of these 125 are in the NCR.
Key group companies and their businesses
Kotak Mahindra Bank
The Kotak Mahindra Group's flagship company, Kotak Mahindra Finance which
was established in 1985, was converted into a bank-Kotak Mahindra Bank in March
2003 becoming the first Indian company to convert into a Bank. Its banking operations
offer a central platform for customer relationships across the group's various businesses.
The bank has presence in Commercial Vehicles, Retail Finance, Corporate
Banking,Treasury and Housing Finance.
Kotak Mahindra Capital Company
Kotak Mahindra Capital Company Limited (KMCC) is India's premier
Investment Bank. KMCC's core business areas include Equity Issuances,Mergers &
Acquisitions, Structured Finance and Advisory Services.
Kotak Securities
Kotak Securities . is one of India's largest brokerage and securities distribution
houses. Over the years, Kotak Securities has been one of the leading investment broking
houses catering to the needs of both institutional and non-institutional investor categories

with presence all over the country through franchisees and coordinators. Kotak Securities
. offers online and offline services based on well-researched expertise and financial
products tonon-institutional investors.
Kotak Mahindra Prime
Kotak Mahindra Prime Limited (KMP) (formerly known as Kotak Mahindra
Primus Limited) has been formed with the objective of financing the retail and wholesale
trade of passenger and multi utility vehicles in India. KMP offers customers retail finance
for both new as well as used cars and wholesale finance to dealers in the automobile
trade. KMP continues to be among the leading car finance companies in India.
Kotak Mahindra Asset STATEMENT Company
Kotak Mahindra Asset STATEMENT Company Kotak Mahindra Asset Statement
Company (KMAMC), a subsidiary of Kotak Mahindra Bank, is the asset manager for
Kotak Mahindra Mutual Fund (KMMF). KMMF manages funds in excess of Rs 20,800
crore and offers schemes catering to investors with varying risk-return profiles. It was the
first fund house in the country to launch a dedicated gilt scheme investing only in
government securities.
Kotak Mahindra Old Mutual Life Insurance Limited
Kotak Mahindra Old Mutual Life Insurance Limited is a joint venture
betweenKotak Mahindra Bank . and Old Mutual plc. Kotak Life Insurance helps
customers to take important financial decisions at everystage in life by offering them a
wide range of innovative life insurance products, to make them financially independent.
2.0.8 BOARD OF DIRECTORS

Mr. K.M.Gherda – Executive Chairman
§ Mr. Uday Kotak –Executive Vice Chairman and Managing Director
§ Mr. Anand Mahindra –Co Promoter of Kotak Mahindra Bank and
Vice Chairman and Managing Director of Mahindra and Mahindra
§ Mr. Cyril Shroff –Co Promoter
§ Mr. Pradeep N Kotak –Agri Division of Kotak and Company Limited
§ Dr. Shanker Acharya
§ Mr. Shivaji Dam –Managing Director Kotak Mahindra Old Mutual
Life Insurance Limited

§ Mr. C.Jayaram –Executive Director

§ Mr. Dipak Gupta –Executive Director
Product Detail
Kotak Mahindra Bank is one of the prominent subs diaries of Kotak Mahindra group. The
activities of the company being parallel to its objective are very wide and cover all the
components of a Bank. The Basic area of Operations is the Banking business , other
products are meant for the regular revenue generation. Being a Banking house, the
company isin regular touch with Banking Accounts, Investment Services ,
Convenience Banking and Other Services .
They offer complete solutions that address all your financial requirements,
whether you're an individual or a firm. From everyday banking to long term investments
— their offering covers it all. This wide range of products is delivered to you with a
genuine understanding of your specific need and warm, personalised service.
Kotak Mahindra Bank, it's not about selling you many different products —
it's about working out a holistic, pragmatic solution that addresses your financial needs.
Through their varied products,they commit themselves to becoming “banker” to the
customer rather than being “asset financier” to our Customers.
PRODUCT
a) Kotak Flexi plan
Advantages:
1 Choice of 5 professionally managed funds included Gilt Fund,

Floating Rate Fund, Bond Fund, Balanced Fund, Growth Fund.
2 Add lump sum injections as and when suitable
3 Premium holiday facility
4 Riders options for enhanced protection
5 Loan facilities in case of emergencies
6 Simplified documentation and procedures
b) Kotak Retirement Income Plan

The Kotak Retirement Income Plan is a savings plan designed to meet your
post retirement needs. It is a plan that gives you jeene Ki azaadi by giving
you the choice to remain independent even after retirement.
Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 60
years.
2 You may buy an annuity either from Kotak Life Insurance.
3 You can make lump sum injections into your policy at any time before
retirement.
4 For a with cover plan you have the facility of Automatic cover
Maintenance, which ensures that the cover remains in force even when you
miss the premium payments. This facility is available after the first 3 years
of the term.
5 You may exercise the option of paying premium from the Supplementary

Accumulation Account, created from will be created from lump sum

injections, if the need arises.
c) Kotak Endowment Plan
An Endowment policy is a combination of savings along with risk cover.
These policies designed to accumulate wealth and at the same time cover
your life. In simple words, issued for specific time periods during which you
pay a regular premium. If you die during policy, your beneficiaries will
receive the sum assured along with the accumulated bonus a outlive the
policy tenure you will receive the sum assured along with accumulated
bonus.

Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 65 years.
2 You can take a loan against your policy has been in force for at least three
years.
3 You have the option of paying premiums quarterly, half yearly or yearly.
4 You have the benefit of a 15-day free look period.
d) Kotak Capital Multiplier Plan
The Kotak Capital Multiplier Plan is a participating plan that is built in such
a way that it allows your money to multiply, and gives you the flexibility of
using this money the way you need it, in regular and irregular withdrawals.
This is an endowment plan, which is very flexible and has a lot of in-
built benefits.
Advantages:
2 At the start of your withdrawals period, you can draw the full proceeds or
you can draw up to 50% of your basic sum assured or accumulation account,
whichever is higher.
3 In addition to the regular premiums, you can make lum sum injection into
your plan during the premium paying period. A Supplementary
Accumulation Account will be created.
4 You have the facility of Automatic Cover Maintenance, which ensures that
the policy remains in force even when you miss the premium payments. This
facility is available after the first 3 years of the term.
e) Kotak Child Advantage Plan

The Kotak Child Advantage Plan is an investment plan designed to meet

your child s future needs. It is a plan that gives your child the azaadi to
realise his/her dreams. This is an endowment plan where the life insured is
the child. This is a participating plan.
Advantages:
2 You may take a loan against this plan, after the policy has been in force for
at least three years.
3 You have the option of paying premiums quarterly, half yearly or yearly.
4 You have the benefit of a 15-day free look period.

RESEARCH METHODOLOGY

Among the four factors of production, namely men, resources, machinery
and money the biggest question confronting organizations today is the people
question. The success of an organization depends upon how best the people at
work are involved and motivated how they perform at a level higher than
normal percent of their physical and mental capacities and also maintain
satisfaction.
Organizations main asset lies in the form of their employees. The employees
work towards achieving the goals of their organization. The employees expect
a good pay for the work they do towards the organization. The main success of
the organization lies how effectively their employees perform their task.
“You can buy a man’s time, you can buy his physical presence at a given
place, and you can even buy a measured number of his skilled muscular
motions per hour. However you can’t buy enthusiasm. You can’t buy loyalty.
You can’t buy the devotion of hearts, minds or souls. You must earn these”
Employee satisfaction plays an important role in the organization. It
maintains the employee’s loyalty towards the organization. The employee can
be made satisfied by providing him with good packages, various monetary and
non-monetary incentives.

Need of the study

Monitoring employee satisfaction level is essential for the acquisition
and retention of a quality workforce. Tracking the attitudes and opinions of
employees can identify problems areas and solutions related to management
and leadership, corporate policy, recruitment, benefits, diversity, training and
professional development.
Employees who feel positively about their occupation are more apt in
depicting their favorable sentiment about the organization to the community at
large. It fosters a pervasive residue of public goodwill towards the
organization.
The findings of the employee satisfaction survey will tell you exactly
how much more important one issue is over another so that you can focus your
performance improvement initiatives appropriately. In analyzing the data, we
can define and refine issues that need addressed, such as overall job
satisfaction, professional fulfillment, employee motivation and commitment,
likelihood to stay with the organization, pay level, corporate goals and
objectives.
A happy and satisfied employee can find it easy to live inside the
organization and outside as well.

Scope for the study
Employee satisfaction research gives employees ‘a voice’ and also

allows the pinpointing of problematic areas leading to the raising of staff
satisfaction levels, developing and reviewing of staff management and
optimizing corporate communications.
Issues we will cover include the current workplace situation,
management styles/attitudes, internal communications, workplace atmosphere,
corporate culture/vision and image.
So, taking into account with the view of the importance of employee
satisfaction in an organization, the present study is being conducted at Kotak
life insurance a profitably running company.

OBJECTIVES OF THE STUDY

Primary objective
 To find the overall satisfaction of the employees in Kotak life insurance
company.
Secondary objective
 To rank the factor that lead to the employee satisfaction in the
organization.
 To rate the various benefits provided by the organization.
 To find out the satisfaction of employees with their supervisor.
 To find out the satisfaction of employees with their workplace and type of
work.
 To study the factors involved in the employee satisfaction.
 To analyze the employee satisfaction of employees through several
measures.

LIMITATIONS OF THE STUDY
 The study is conducted Kotak life insurance company, Chennai only.

 Because of limited cost and time factor research is conducted with 100
samples of employees.
 The data collected from the employees are qualitative in nature that is views,
opinions, perception etc, these factors may change from time to time.

Meaning of Research methodology

Research methodology is the blueprint of the proposed study. It
presents the overall scheme of the study. Research methodology is the
description, explanation and justification of various methods of conducting
research. “A research methodology is a logical and systematic planning and it
helps directing a piece of research”.
Field of study
The researcher conducted the study at Kotak life insurance Company at
Chennai.
 Research design
A research design or model indicates a plan of action to be carried out
in connection with a proposed research work. It provides only a guideline for
the researcher to enable him to keep track of his actions and to know that he is
moving in the right direction in order to achieve his goal.
Research design is the plan, structure and strategy of investigation
conceived so as to obtain answer to research questions and to control variance.
The plan is the overall scheme of program of research.
The research design constitutes the blueprint for the collection,
measurement and analysis of data.
 Pilot study
Pilot study is a preliminary study conducted on limited scale before the
original studies are carried out in order to gain some primary information, on
the basis of which the main project would be planned and formulated.
 Sampling
The method of selecting for study a portion of the universe with a view to
draw conclusion about the universe is known as sampling.
A few favorable units of population under study are considered for

analysis is called sampling method. The result of the sample study, in general,
should be application to all items of the universe.
 Size of Sample
Sample size means how many items are selected from the universe to
constitute a sample. The size of the sample should be optimum. The sample
should yield the desired information with the required reliability at the
minimum cost.
The sample size is 100 employees in the Kotak life insurance Company. It
is determined by the researcher by considering the time factor and cost of data
collection.
 Sources of Data
Primary data: Refer to those that are collected by researcher through the
study. It is also named as first hand information. Since the purpose of the study
is to collect first hand information regarding satisfaction of employees, much
significance has been given to primary data and its techniques. Here the
schedule is used for collecting primary data.
Secondary data: Refers to those that are collected from the organization,
books, internet, publications, journals and magazines.
Here the researcher uses both primary and secondary data.
 Types of Research
The researcher has undergone the descriptive research which
determines factors influencing job satisfaction of employees.
Descriptive research is essentially a fact finding approach related
largely to the present, and abstracting generalizations by the cross sectional
study of the current situation.
 Sampling Method
The methods of sampling techniques are two types: probability sampling
methods and Non-probability sampling methods.
Here the researcher uses stratified Random sampling under the probability

sampling methods.
In the process of Stratified Random Sampling the entire universe or
population is divided or subdivided into homogenous groups or types or
classes called Strata and a sample is drawn from each stratum at random.
 Pre-Testing
Pre- testing or preliminary testing is the process of an advance testing of
the study design after the schedule or questionnaire has been prepared.
The schedule formulated by the researcher was pre-tested with 10 samples.
It was found that complete information could not be collected by the
researcher, so few more questions were added and few were deleted.
 Methods of Analysis
To analyze the data, percentage analysis was used by the researcher.
 Statistical tool used

Here the researcher used the RANK TEST & CHI-SQUARE test as
statistical tool.
 Research hypothesis
There is relation between the personal problem of the respondent and
marital status and these lead to employee satisfaction.
There is relation between experience of respondent and their level of
satisfaction.
 Tools Used for Data Collection
Personally administered schedule is used for data collection. Because
the survey is contained to the nearby area, it facilitates the researcher to collect
completed responses with in hard period. The doubt of respondents, might
have on any questions, can be clarified on the spot and motivates
correspondents to other their track answer.
A research is prepared as pre-formulated written set of questions. The
schedule on job satisfaction considers the following dimensions.
Personal details

Nature of job
Working conditions
Supervision and work group
Welfare measures
Salary and incentives
Promotion opportunities
 Processing of Data
The collection of data may be significant part of personal research. The
relevant data derived from the mass of the data. The data collected are in raw from
unless they have been processed and analyzed. A set of procedures is established
to maintain accurate and reliable information.
 Tabulation
Tabulation is a part of the technical process of statistical analysis that consists of
counting the number of cases that fall in the various categories. The results are
summarized in the activities of sorting CHARTS.

CHAPTERISATION
The research study has been divided into three chapters.

The first chapter deals with introductory aspects of the study in which outline of the
project, scope of the project, need of the project, objectives, limitations, research
methodology and chapterisation are dealt and review of literature in which profile of
the organization, of KOTAK LIFE INSURANCE, Chennai.
The second chapter deals with data analysis and interpretation. The various factors
that affect EMPLOYEE SATISFICATION and also their satisfaction level of the
KOTAK LIFE INSURANCE have been analyzed.
The third chapter deals with summary and conclusion in which main findings and
suggestions of the researcher are drawn.

REVIEW OF LITERATURE
Employee Satisfaction
The term ‘Employee Satisfaction’ refers to an employee’s general
attitude toward his job and working conditions employee satisfaction is one of
the important factors which have drawn attention of managers in organization
as well as academicians.
Employee satisfaction is the mental felling of favorableness which an
individual has about his job.
Definitions of Employee Satisfaction

Durbins has defined employee satisfaction as, “Employee Satisfaction
is the amount of pleasure or contentment associated with a job. If you like
your job intensely, you will experience high job satisfaction. If you dislike
your job intensely, you will experience job dissatisfaction”
E.A.Locke defines employee satisfaction as a, “Pleasurable or positive
emotional state resulting from the appraisal of one’s job or job experiences”.
Determinants of Employee Satisfaction

There are various factors determining the degree of job satisfaction as
follows.
 Individual Factors
Individual have certain expectations from their jobs. If these
expectations are met from the jobs, they feel satisfied.
1. Level of education
Level of education of an individual is a factor which determines
the degree of job satisfaction, For example, several studies have found
negative correlation between the level of education, particularly higher
level of education and employee satisfaction.

2. Age
Individuals experience different degree of job satisfaction at different
stages of their life. Employee satisfaction is high at the initial stage,
gets gradually reduced, starts rising up to certain stage, and finally dips
to a low degree.
3. Other factors
Besides the above two factors, there are other individual factors
such as, sex which affect employee satisfaction. If an individual does
not have favorable social and family life, he may not feel happy at the
workplace.
4. Occupational level
Higher level jobs provide more satisfaction as compared to
lower levels. This happens because high level jobs carry prestige and
status in the society which itself becomes sources of satisfaction for the
holders.
 Situational Factors
Situational variables related to job satisfaction lie in organizational
context formal and informal.
1. Working conditions
Working conditions, particularly physical work environment,
like conditions of workplace and associated facilities for performing
the job determine job satisfaction.
2. Supervision

The type of supervision affects job satisfaction as in each type

of supervision the degree of importance attached to individuals varies.
The employee-oriented supervision provides more satisfaction than
job-oriented supervision.
3. Equi chart rewards

The type of linkage that is provided between job performance
and rewards determines the degree of job satisfaction, if the reward
determines the degree of job satisfaction, if the reward is based on the
performance, it offers higher satisfaction.
4. Opportunity for the promotion

It is true that individuals seek satisfaction in their jobs in the
context of job nature and work environment but they also attach
importance to the opportunities for promotion that these jobs offer.
Employee Satisfaction Survey

An employee satisfaction survey is a procedure by which employees
report their feelings toward their jobs and work environment. Individual
responses are then combined and analyzed.
 Benefits of employee satisfaction studies

If employee satisfaction studies are properly planned and administered,
they will usually produce a number of important benefits, both general and
specific.
 Monitoring attitudes
Surveys indicate the specific areas of satisfaction or dissatisfaction
(such as employee services) and the particular groups of employees (such
as the marketing department or those employees who are approaching

retirement). In other works, a survey tells how employees fell about their
jobs, what parts of their feelings are focused on, which departments are
particularly affected, and whose feeling are involved. The survey is a
powerful diagnostic instrument for assessing broad employee problems.

DATA ANALYSIS

AND
INTERPRETATION
TABLE
Age group No of respondents % of respondents
Below 25 20 20
25-35 56 56
35-45 23 23
Above 45 1 1
Total 100 100

- Age group of respondent
AGE GROUP OF RESPONTENTS
60 56
50
NO OF RESPONDENTS
40
30 23 No of respondents
20
20
10
1
0
Below 25 25-35 35-45 Above 45
AGE
INFERENCE:
From this CHART it can be inferred that 56% of the respondents belongs
from the age between of 25 to 35, 23% of the respondents are 35 to 45 age group,
20% of the respondents are from the age below 25. The remaining 1% of the
respondent is above 45.
TABLE
Gender No of respondents % of respondents

Male 87 87
Female 13 13
Total 100 100
- Gender of the respondent

100
87
90
80
NO OF RESPONDENTS
70
60
50 No of respondents
40
30
20 13
10 2
0
Male Female Dissatisfied
SATISFACTION LEVEL
INFERENCE:
Out of the total respondents surveyed 87% are male and remaining 13% are
female.
TABLE
Income No of respondents % of Respondents
Below 5000 31 31
5000-10000 30 30
10000-15000 22 22
Above 15000 17 17
Total 100 100

The income level of the respondent
No of respondents
17
31
Below 5000
5000-10000
22 10000-15000
Above 15000
30
INFERENCE:
Based on this survey we found that 31% of them earning below 5000, 17% of
them earning above 15,000 per month.
TABLE
Years of experience No of respondents % of respondents
Less than 1 year 37 37
1-2 years 31 31
2-3 years 23 23
More than 3 years 9 9
Total 100 100
the experience of the respondent

EXPERIENCE OF RESPONDENTS
NO OF RESPONDENTS 40 37
35 31
30
25 23
15
9
10
5
0
Less than 1 1-2 years 2-3 years More than 3
year years
EXPERIENCE
INFERENCE:
Regarding the years of experience of the respondents, CHART reveals that
37% of them having less than 1 year of experience, whereas 23% of them are having
2-3 years of experience.
TABLE
Category No of respondents % of respondent
Sales manager 20 20
Financial advisor 59 59
Tele caller 17 17
Pantry staffs 4 4
Total 100 100
- the distribution of employees by category

DISTRIBUTION BY CATEGORY
4 20
17
Sales manager
Financial advisor
Tele caller
Pantry staffs
59
INFERENCE:
Based on this survey 20% of them are sales managers, 59% of them are financial
advisors, 17% of them are telecallers, and 4% of them are pantry staffs based on their
category.
TABLE
Description No of respondents % of respondents
Satisfied 57 57
Partially 32 32
Dissatisfied 11 11
Total 100 100
- the satisfaction of the respondents with their supervisor

SATISFACTION WITH SUPERVISOR
60 57
50
40 32
NO OF
30
RESPONDENTS
11
10
0
Satisfied Dissatisfied
SATISFACTION LEVEL
INFERENCE:
Based on this survey we found that 57% of the respondents are satisfied with
their supervisor, 32% of the respondents are partially satisfied with their supervisor,
and 11% of the respondents are dissatisfied with their supervisor.
TABLE
Description No of respondents % of respondents
Satisfied 53 53
Partially 37 37
Dissatisfied 10 10
Total 100 100
the distribution of the respondents’ opinion about incentives provided

OPINION ABOUT INCENTIVES
60 53
50
40 37
NO OF
30
RESPONDENTS
10
10
0
SATSFACTION LEVEL
INFERENCE:
Based on this survey, 53% of the respondents are satisfied, 37% of the
respondents are partially satisfied regarding their opinion about incentives provided
by the company.
TABLE
Description No of respondents % of respondent
Satisfied 64 64
Dissatisfied 36 36
Total 100 100
the distribution of respondent’s satisfaction regarding grievance solving

SATISFACTION REGARDING GRIEVANCE SOLVING
70 64
60
50
36
NO OF 40
RESPONDENTS 30 No of respondents
20
10
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey we found that 64% of the respondents are satisfied, 36%
of the respondents are dissatisfied regarding their opinion about grievance handling
procedure.
TAble
Satisfied 85 85
Partially 12 12
Dissatisfied 3 3
Total 100 100
- respondent’s satisfaction regarding ventilation, temperature and lighting

90 85
80
NO OF RESPONDENTS
70
60
50
No of respondents
40
30
20 12
10 3
0
Satisfied Partially Dissatisfied
SATISFACTION LEVEL
INFERENCE:
Based on this survey 85% of them satisfied, 12% of them partially satisfied, and
3% of them dissatisfied regarding ventilation, lighting and temperature.
TABLE
Satisfied 74 74
Partially 22 22
Dissatisfied 4 4
Total 100 100
the training received by the respondent

80 74
70
NO OF RESPONDENTS
60
50
30
22
20
10 4
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey we found that 74% of the respondents are satisfied, whereas
22% of the respondents are partially, 4% of the respondents are dissatisfied regarding
the training received by the employee.
TABLE
Satisfied 73 73
Partially 25 25
Dissatisfied 2 2
Total 100 100

distribution of respondents regarding comfort CHART and safe workplace
80 73
70
NO OF RESPONDENTS
60
50
30 25
20
10
2
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 73% of the respondents are satisfied, 25% of the
respondents are partially, 2% of the respondents are dissatisfied regarding their
workplace and environment.
TABLE
Description No of respondent % of respondent
Satisfied 92 92
Partially satisfied 7 7
Dissatisfied 1 1
Total 100 100
the relation with other employees

100 92
90
NO OF RESPONDENTS 80
70
60
50 No of respondent
40
30
20
7
10 1
0
satisfied
SATISFACTION LEVEL
INFERENCE:
Based on this survey 92% of them satisfied, 7% of them partially satisfied, and
1% of them dissatisfied regarding relation with other employees.
TABLE
Satisfied 63 63
Partially 24 24
Dissatisfied 13 13
Total 100 100
the chances of promotion to the respondents

70
63
60
NO OF RESPONDENTS
50
40
No of respondents
30 24
20
13
10
0
SATISFACTION LEVEL
INFERENCE:
respondents are partially, 13% of the respondents are dissatisfied regarding the
chances of promotion to them in the organization.
TABLE
Satisfied 69 69
Partially 28 28
Dissatisfied 3 3
Total 100 100
- distribution of respondents treated with respect by management and other

employees

80
69
70
NO OF RESPONDENTS
60
50
28
30
20
10 3
0
SATISFACTION LEVEL
INFERENCE:
respondents are partially satisfied regarding the management and other employees
treated them.
TABLE
Satisfied 71 71
Partially satisfied 24 24
Dissatisfied 5 5
Total 100 100
the satisfaction of the respondent with supervisor’s feedback

No of respondents
5
24
Satisfied
Partially satisfied
Dissatisfied
71
INFERENCE:
respondents are partially satisfied, and 5% of the respondents are dissatisfied with the
supervisor’s feedback.
TABLE
Satisfied 73 73
Partially 23 23
Dissatisfied 4 4
Total 100 100
- distribution of employees has voice in major decision regarding changes in the work
environment

80 73
70
NO OF RESPONDENTS
60
50
30 23
20
10 4
0
SATISFACTION LEVEL
INFERENCE:
respondents are partially, 4% of them dissatisfied regarding the decision in changes in
the work environment.
TABLE
Satisfied 54 54
Partially 38 38
Dissatisfied 8 8
Total 100 100
the distribution of employee’s personal life understood by management

60
54
38
40
20
8
10
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 54% of the respondents are satisfied, 38% of them partially
satisfied, regarding management understand the respondent’s personal life.
CHART
Satisfied 65 65
Partially 28 28
Dissatisfied 7 7
Total 100 100
the distribution of employees stress on their job

70 65
50
40
30
20
10 7
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 65% of them are satisfied, 28% of them partially
satisfied, whereas 7% of them dissatisfied regarding respondent’s stress on their job.
CHART
Satisfied 68 68
Partially 28 28
Dissatisfied 4 4
Total 100 100
employees are encouraged to develop new and more efficient ways to do their work

80
68
70
NO OF RESPONDENTS
60
50
28
30
20
10 4
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 68% of them are satisfied, 28% of them partially satisfied,
regarding encouragement of employees to develop new and more efficient ways to do
their job.
TABLE
Satisfied 72 72
Partially 24 24
Dissatisfied 4 4
Total 100 100
- respondents recommend others to work for this company

80
72
70
NO OF RESPONDENTS
60
50
30 24
20
10 4
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 74% of them are satisfied, 24% of them partially satisfied,
whereas 4% of them dissatisfied regarding the employee recommend others to work
for this company.
TABLE
Satisfied 44 44
Partially 34 34
Dissatisfied 22 22
Total 100 100
- at what extent employee satisfied to work for the company

50
44
45
NO OF RESPONDENTS
40
34
35
30
25 22 No of respondents
20
15
10
5
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 44% of them are satisfied, whereas 34% of them are
partially satisfied and 22% are dissatisfied regarding the respondents overall
satisfaction.
TABLE
Satisfied 49 49
Partially 34 34
Dissatisfied 17 17
Total 100 100
employees receiving appropriate recognition for their contribution

No of respondents
17
49 Satisfied
Partially
Dissatisfied
34
INFERENCE:
Based on this survey 49% of them are satisfied 34% of them are partially satisfied
and 17% of them are dissatisfied regarding recognition for their contribution.
TABLE
Satisfied 54 85.71
Partially 7 11.11
Dissatisfied 2 3.18
Total 63 100
- overall job satisfaction of the employees compared to year ago

60
54
50
NO OF RESPONDENTS
40
20
10 7
2
0
SATISFACTION LEVEL
INFERENCE:
Based on this survey 85.71% of them are satisfied, 11.11% of them are partially
satisfied and 3.18% of them are dissatisfied overall job satisfaction compared to year
age
STATISTICAL ANALYSIS
STATISTICAL TOOLS
CHI-SQUARE TEST
Satisfaction of the employees in Kotak life insurance Company towards income
and overall satisfaction.
AIM
The objective of using chi-square test is to find out the satisfaction of the
employees in Kotak life insurance Company is uniform or not uniform among

different income of employees.

Ho: There is no significant relationship between income and overall satisfaction of
the employee.
H1: There is significant relationship between income and overall satisfaction of
the employee.
Description
Satisfied Partially Dissatisfied Total
Income
Below 5000 20 5 6 31
5000-10000 8 17 5 30
10000-15000 11 6 5 22
More than 15000 5 6 6 17
Total 44 34 22 100
Calculation
O E O-E (O-E)^2 ((O-E)^2)/E
20
13.64 6.36 40.45 2.97
5
10.54 -5.54 30.69 2.91
6
6.82 -0.82 0.67 0.1
8
13.2 -5.2 27.04 2.05
17
10.2 6.8 46.24 4.53
5
6.6 -1.6 2.56 0.39
11
9.68 1.32 1.74 0.18

6
7.48 -1.48 2.19 0.29
5
4.84 0.16 0.03 0.01
5
7.48 -2.48 6.15 0.82
6
5.78 0.22 0.05 0.01
6
3.74 2.26 5.11 1.37
Total 15.63
O = Observed frequency
E = Expected frequency
Degrees of freedom = (C-1) * (R-1)
= (3-1) * (4-1)
=6
Level of significance = 5%
CHART value = 12.59
CHART value < Calculated value
CONCLUSION
Since CHART value < Calculated value, therefore we reject Ho. There is significant
relationship between income and overall satisfaction of the employee.
Ranking Method
Facto Salary Decision ComforCHART Employee Employee Motivation

rs packages making work recognition training to do job
environment program
Rank

1 16 6 4 0 26 48
2 4 4 12 8 62 10
3 64 14 8 8 2 4
4 8 4 72 2 6 8
5 4 14 4 68 4 6
6 4 58 0 14 0 24
Total 100 100 100 100 100 100
AIM
To find out employees ratings among the given factors
CALCULATION
Weight age 6 5 4 3 2 1
Rank 1 2 3 4 5 6 Total Wtd., Rank
Attributes score
Salary packages 16 4 64 8 4 4 100 408 3
Decision 6 4 14 4 14 58 100 210 6
making
Come for chart 4 12 8 72 4 0 100 340 4
work
environment
Employee 0 8 8 2 68 14 100 228 5
recognition
Employee 26 62 2 6 4 0 100 500 1
training
program
Motivation to 48 10 4 8 6 24 100 414 2
do job
Total 100 100 100 100 100 100
RESULT
Factors Rank
Salary packages 3
Decision making 6

Come for chart work environment 4

Employee recognition 5
Employee training program 1
Motivation to do job 2
CONCLUSION
The employee training program has got the rank first and the employee
recognition has got the sixth rank.

SUMMARY
AND
CONCLUSIONS

FINDINGS
 Out of the total respondents surveyed 87% are male and remaining 13% are
female.
 it can be inferred that 56% of the respondents belongs from the age between
25 to 35, 23% of the respondents are 35 to 45 age group, 20% of the
respondents are from the age below 25. The remaining 1% of the respondent is
above 45.
 Based on this survey we found that 31% of them earning below 5000, 17% of
them earning above 15,000 per month.
 Regarding the years of experience of the respondents, CHART reveals that
37% of them having less than 1 year of experience, whereas 23% of them are
having 2-3 years of experience.
 Based on this survey 20% of them are sales managers, 59% of them are
financial advisors, 17% of them are telecallers, and 4% of them are pantry
staffs based on their category
 Based on this survey we found that 57% of the respondents are satisfied with
their supervisor, 32% of the respondents are partially satisfied with their
supervisor, and 11% of the respondents are dissatisfied with their supervisor.
 Based on this survey we found that 64% of the respondents are satisfied, 36%
of the respondents are dissatisfied regarding their opinion about grievance
handling procedure.
 Trough this survey 85% of them satisfied, 12% of them partially satisfied, and
3% of them dissatisfied regarding ventilation, lighting and temperature.
 Based on this survey we found that 74% of the respondents are satisfied,
whereas 22% of the respondents are partially, 4% of the respondents are
dissatisfied regarding the training received by the employee.
 Based on this survey 69% of the respondents are satisfied, 28% of the

respondents are partially satisfied regarding the management and other

employees treated them
 Based on this survey 54% of the respondents are satisfied, 38% of them
partially satisfied, regarding management understand the respondent’s
personal life.
 Based on this survey 65% of them are satisfied, 28% of them partially
satisfied, whereas 7% of them dissatisfied regarding respondent’s stress on
their job.
satisfied, regarding encouragement of employees to develop new and more
efficient ways to do their job.
satisfied, whereas 4% of them dissatisfied regarding the employee recommend
others to work for this company.
 Based on this survey 44% of them are satisfied, whereas 34% of them are
partially satisfied and 22% are dissatisfied regarding the respondents overall
satisfaction.
 Based on this survey 49% of them are satisfied 34% of them are partially
satisfied and 17% of them are dissatisfied regarding recognition for their
contribution.
 Based on this survey 85.71% of them are satisfied, 11.11% of them are
partially satisfied and 3.18% of them are dissatisfied overall job satisfaction
compared to year ago.

SUGGESTIONS
 Many of the employees are dissatisfied with their salary and so the
company can try to increase their salary levels.
 Employees should be given proper encouragement and motivates them to
do their work and appreciation of their work helps in increasing the level
of job satisfaction.
 Improve the communication channel which increases the interaction with
employees.
 The supervisors should review the employees’ performance periodically.
 The company encourages the worker participation in the management that
will motivate the employees that they are also the part of the organization
and work for the development of the organization.
 As incentives is the one way to increase the job satisfaction the company
take steps to provide adequate incentives which will motivate the
employees to do their work with involvement.
 The company takes steps to improve the chances for career growth of the
employees that will improve both the level of an individual employee and
an organizational level.
 Promotional opportunities of the employees should be increased by the
company because promotion is a major determinant of employee
satisfaction.

CONCLUSION
From the study, it is inferred that employees in the Kotak life insurance
Company are satisfied. They need improvement in training regarding their job,
incentives, promotional opportunities and chance for career growth. So, the company
may consider these points in order to improve the satisfaction of the employees
because the job satisfaction influences performance of their work. The company may
also provide counseling service in order to reduce the mental stress of the employees,
so that they work with more involvement.
Employees should be properly recognized and importance should be given to
them which are essential for increasing the level of employee satisfaction.
Thus the study on employee satisfaction is helpful in knowing the impact of it in
the functioning of the organization and knowing the views of employees about
different factors.

QUESTIONNAIRE ON “EMPLOYEE SATISFACTION”
Please mention your choice in the provided place.
(A) Completely agree (B) Agree (C) Partly agree (D) Disagree (E) Completely disagree
1. I know what is expected out of me at work. [ ]
2. I have the materials and equipment to do my work right. [ ]
3. At work, I have the opportunity to do my best every day. [ ]
4. I have a best friend (or team) at work. [ ]
5. In the last one year, I had opportunities at work to learn and grow. [ ]
6. My superior, or someone at work, cares about me as a person. [ ]
7. At work, my opinions seem to count. [ ]
8. Our Mission / purpose of our company make me feel that my job is important. [ ]
9. Our salary is competitive when compared to other companies in Market? [ ]
10. The employee feel that their efforts are recognized and valued. [ ]
11. The employee is willing to recommend our company to their family and friends. [ ]
12. I feel that I am a responsible person in the organization. [ ]
13. I am given an adequate and fair compensation for the work I do? [ ]
14. The other departments in our company co-operate with each other? [ ]
15. I could able to balance my work and family matters. [ ]

16. I am continuously updated on the developments taking place in the organization. [ ]
17. My company takes care of my safety and welfare. [ ]
18. I am staying in this organization since ______ years for the following reasons.


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EMPLOYEE JOB SATISFACTION @ KOTAK

Department of Business Administration

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 1

I, the undersigned, hereby declare that the project report entitled

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 2

CHAPTE CHART OF CONTENTS PAGE NO

2 DATA ANALYSIS AND INTERPRETATION

SUMMARY AND CONCLUTION

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 3

2.1.1 AGE GROUP OF RESPONTENTS

2.1.2 GENDER OF THE RESPONTENTS

2.1.3 INCOME LEVEL OF RESPONTENTS

2.1.5 EMPLOYEES BY CATEGORY

2.1.7 RESPONTENTS OPINION ABOUT INCENTIVES

RESPONTENTS SATISFACTION REGARDING

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 4

2.1.22 EMPLOYEES RECEIVING APPROPRIATE

2.1.1 AGE GROUP EF RESPONTENTS

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 5

2.1.2 RESPONDENTS RECOMMENDS TO OTHERS THEIR

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 6

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 7

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 8

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 9

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 10

IMPORTANCE OF Employee Job Satisfaction level

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 11

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 12

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 13

EFFECTS OF LOW Employee Job Satisfaction level

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 14

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 15

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 16

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 17

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 18

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 19

INSURANCE SECTOR REFORMS:

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 20

5) Customer service: LIC should pay interest on delays in payments beyond 30

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 21

ENTRANCE OF PRIVATE PLAYERS IN INSURANCE SECTORS

The insurance landscape in India is undergoing major changes. Close to foreign

Allianz Bajaj Life Insurance Company Ltd.

AMP Sanmar Assurance Company Ltd.

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 22

Aviva Life Insurance Company Ltd.

BI Life Insurance Company Ltd.

Tata Life Insurance Company Ltd.

ICICI Prudential Life Insurance Company Ltd.

Birla Sun Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd.

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 23

ING Vysya Life Insurance Company Ltd.

MAX New York Life Insurance Company Ltd.

Met Life India Insurance Company Ltd.

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 24

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 25

INTRODUCTION OF KOTAK MAHINDRA GROUP

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 26

2.0.8 BOARD OF DIRECTORS

SANSKRITHI SCHOOL OF BUSINESS, PUTTAPARTHI Page 27

§ Mr. C.Jayaram –Executive Director