Data Analysis and Interpretation of Employee Rewards Survey

CHAPTER - 5
DATA PRESENTATION, ANALYSIS & INTERPRETATION
5.1 INTRODUCTION
5.2 DESCRIPTION OF QUESTIONNAIRES
5.3 LIST OF VARIABLES AND MEASURES WHICH MAY PERSUADE
RESPONDENTS
5.4 RELIABILITY FOR DATA COLLECTED
5.5 ANALYSIS OF SECTION A OF QUESTIONNAIRE
5.5.1 DESCRIPTIVE STATISTICAL PRESENTATION OF DEMOGRAPHIC
STATUS OF RESPONDENTS
5.6 ANALYSIS OF SECTION B OF QUESTIONNAIRE
5.6.1 DESCRIPTIVE STATISTICAL PRESENTATION OF RESPONDENT
5.6.2 ANALYSIS OF SECTION B OF QUESTIONNAIRE FOR HYPOTHESIS
TESTING
5.7 ANALYSIS OF SECTION C OF QUESTIONNAIRE
5.7.1 ANALYSIS OF PERCEPTION ABOUT AVAILABILITY OF
STRATEGIES
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CHAPTER-5
ANALYSIS AND INTERPRETATIONS
5.1 INTRODUCTION
This chapter deals with the analysis and interpretation of the collected data. An
instrument for measuring the opinions of executives from Insurance and IT industries and
also the Impact of Non-Monetary Rewards for Employee Retention is developed
specifically for the purpose of this study. Appropriate statistical methods are used for the
analysis of the data. The hypotheses have been described at appropriate places. The
resultants are focused and interpreted in the framework of the parameters such as name,
gender, name of the organization, age, income, and experience with existing organization
and total experience.
For the purpose of analysis various data have been collected through the set of
questionnaires, which were filled by different group of respondents from various
insurance and IT industries. The list of respondent industries is given below.
Table: - 5.1 List of Participating Industries

S. No. Insurance Industry IT Industry
1 ICICI Lombard GIC Ltd Impetus Infotech
2 IDBI Federal Life Insurance Co. Cyber Infrastructure Pvt Ltd
3 ICICI Prudentional Computer Science Corporation (CSC)
4 Star union dai ichi life insurance InfoBeans Systems India Private Limited
5 Star Insurance
6 Max Life Insurance
7 Bajaj Allianz
8 HDFC Standard Life Insurance
9 Aviva Life Insurance
10 Birla Sunlife Life Insurance
2
5.2 DESCRIPTION OF QUESTIONNAIRE
Thus the set of questionnaire structured in three sections, which are described below.
PART A:
This part of the questionnaire gathered demographic information about the respondents.
This demographic section includes personal demographic information includes name,
gender, name of the organization, age, income and experience with existing organization
and total experience.
PART B:
This part of questionnaire enquires about the industry environment information, which
includes ranks on various statements like I’m planning on working for another company
within a period of one year with this company my work gives me satisfaction, If I wanted
to do another job or function, I would look first at the possibilities within this company, I
see a future for myself within this company, It doesn’t matter if I’m working for this
company or another, as long as I have work.
If it is up to me, I will definitely be working for this company for the next five years, If I
could start over again, I would choose to work for another company, If I receive an
attractive job offer from another company, I would take the job, The work I’m doing is
very important to me, I love working for this company, I have checked out a job in
another company previously. I am proud to be able to tell a person who is that I work for,
I feel myself to be a part of the organization, the offer of a bit more money with another
employer would not seriously make me think of changing my job.
In order of priority ask about to what extent employees agree on 5-point likert scale
towards various activities using the following scale to rate the activities.
Strongly Agree 1
Agree 2
Neither Agree nor Disagree 3
Disagree 4
Strongly Disagree 5
3
PART C:
This section of the questionnaire comprised in two segments as first segment ask about
the availability of services by putting write or wrong or say yes or no in front of
statements and second segment gives five point likert scale from very important to not at
all important scale which included 35 sub parts.
The items related to all important aspects of non monetary rewards for employees in
insurance and IT industries specifically questions pertaining to Flexible working hours,
Help in career planning, Work from Home, Free Medical Insurance, Free Movie Tickets,
Job Rotation and New Assignments, Recognition on Birthdays, On-site day care (creche)
Employee of the Month award, Employee Suggestion Program, Rewards/Benefits,
Training Opportunities, Free Food, Annual Performance Appraisal, Preferred Office
Space, Gifts of Personalized Items (Shirts, jackets, Planners, Mugs etc), Loan Assistance,
Gym Membership, Healthcare Benefits/ Free Medical Insurance, Free Cell Phone
(Handset), Company laptop, Growth / Promotion Opportunities, Hygienic Work
Environment, Recognition of good work, Good Relationship with Supervisor,
Redesigning of Job Profile, Extra Leave/Off, Feedback to an employee about his or her
performance, Public Praise at a Staff Meeting, Publishing Good performance acts in in-
house journals and in public press, Rewards/Benefits, Facilitating High performance
employees on special occasions like annual day, Outdoor trips with or without family,
Compulsory off on birthdays and Anniversaries, Retention Bonus, Elite club
Membership, Networking with Schools, Collages, Hospitals.
5.3 LIST OF VARIABLES AND MEASURES WHICH MAY PERSUADE

RESPONDENTS
For the analysis purpose various factors have been determine as an entitled
Opportunity, Facilities, Recognition, Entertainment and Flexibility. The lists of
variables are given below in table 5.1.
Table 5.2 List of Variables and Measures which may persuade respondents
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Constructs Variables Measures Used
5
Variable 2 Help in career planning
Variable 6 Job Rotation and New Assignments
Variable 11 Training Opportunities
Opportunity Variable 21 Growth / Promotion Opportunities
Variable 24 Good Relationship with Supervisor
Variable 3 Work from Home
Variable 4 Free Medical Insurance
Variable 8 On-site day care (crèche)
Variable 10 Employee Suggestion Program
Variable 12 Free Food
Variable 14 Preferred Office Space
Variable 15 Gifts of Personalized Items (Shirts, jackets,
Planners, Mugs etc)
Variable 16 Loan Assistance
Facilities Variable 17 Gym Membership
Variable 18 Healthcare Benefits/ Free Medical Insurance
Variable 19 Free Cell Phone (Handset)
Variable 20 Company laptop
Variable 22 Hygienic Work Environment
Variable 33 Outdoor trips with or without family.
Variable 7 Recognition on Birthdays
Variable 9 Employee of the Month award
Variable 13 Annual Performance Appraisal
Variable 23 Recognition of good work
Variable 27 Feedback to an employee about his or her
performance
Variable 28 Public Praise at a Staff Meeting
Recognition Variable 29 Publishing Good performance acts in in-house

journals and in public press
Variable 30 Facilitating High performance employees on
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special occasions like annual day.
Variable 5 Free Movie Tickets
Variable 31 Outdoor trips with or without family.
Variable 32 Compulsory off on birthdays and
Anniversaries
Entertainment
Variable 34 Elite club Membership
Variable 35 Networking with Schools, Collages, Hospitals
Variable 1 Flexible working hours
Variable 25 Redesigning of Job Profile

Flexibility Variable 26 Extra Leave/Off
Source: - Questionnaire, Primary data
In the light of the objectives described in chapter-4, this chapter deals with analysis
and interpretation of the collected data gathered data from the Insurance and IT
industries of the area under study.
Appropriate statistical methods have been used for analysis of the data. Suitable
hypothesis are formulated and tested statistically. The result of analysis are focused and
interpreted in the framework of the parameters such as name, gender, name of the
organization, age, income, experience with existing organization and total experience.
The chapter has been divided into five sections.
5.4 RELIABILITY FOR DATA COLLECTED
Reliability coefficient tested by using Cronbach’s alpha (α) analysis. In order to measure
the reliability for a set of two or more constructs, Cronbach’s alpha is a commonly used method
where alpha coefficient values range between 0 and 1 with higher values indicating higher
reliability among the indicators (Hair, et al., 1992).
Prior to analysis of the results, the research instrument was tested for its reliability.
Several measures of reliability can ascertain the reliability of a measuring instrument. These
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include test-retest method, equivalent forms, split halves method and internal consistency
method. All above methods, the internal consistency method requires only one administration
and consequently is supposed to be most effective, especially in field studies. Moreover, this
method is considered to be the most general form of reliability analysis. In this method,
reliability is equipped as internal consistency, which is the degree of inter correlation among the
items that constitute a scale. Internal consistency is estimated using a reliability coefficient called
Cronbach’s alpha.
An alpha value of 0.60 and 0.70 or above is considered to be the criterion for
demonstrating internal consistency of new scales and established scales respectively. Reliability
of the measurements was determined using Cronbach’s Coefficient alpha. In this research,
following are the research for the data collected from patients:
Table 5.3: Case Processing Summary

Case Processing Summary
N %
Valid 300 100.0
Cases Excluded a 0.0 0.0
Total 300 100.0
a. List wise deletion based on all variables in the procedure.
Source: Author’s Compilation
From the above Table 5.3 it could interpret that total case followed under examinations
which were found valid were 300. Total numbers of cases were 300. No missing or excluded
cases were recognized. All the responses collected through respondents and governed by the
questionnaire were systematically filled and specific attention was given to all the respondents if
required so that proper and confirmed responses about the issues could be collected.
Table 5.4: Reliability Statistics

Cronbach's Alpha N of Items
.762 300
8
From above Table 5.4 it could recognized that Cronbach value for the responses of the 300
respondents of the study was found .762 which is an excellent representation of the quality of
data and confirms approx 76% reliability of the collected data. Cronbach's a (alpha) is an
important psychometric instrument to measure the reliability of data. The reliability coefficient
indicates that the scale for measuring trust and commitment is a reliable. So, various statistical
tools can be applied and tested.
5.5 ANALYSIS OF SECTION A OF QUESTIONNAIRE

Section A of the questionnaire was presenting the statement related to the demographics
of the respondents like respondent’s name, gender, name of the organization, age, income,
experience with existing organization and total experience. All the statements are very well
presented under several objectives.
This section also collects the information about the respondents association with
insurance and IT industries, like name of their industry, type and from how much time they are
associated with that industry. Some of the statements of this section examine the respondent
usage pattern for employee’s retention and non-monetary rewards.
5.5.1 DESCRIPTIVE STATISTICAL PRESENTATION OF DEMOGRAPHIC STATUS

OF RESPONDENTS
Table 5.5: Descriptive Statistics of the Demographic Profile of Respondents from Insurance
industries
Duration-
Monthly Existing
Age Level Income Organization Total Experience
Mean 2.166667 2.173333 2.566666667 2 3.133333333
Standard
Error 0.061609 0.082872 0.062331054 0.064852 0.069941917
Median 2 2 2 2 3
Mode 2 1 2 2 4
Standard
Deviation 0.754554 1.014966 0.763396391 0.794275 0.85661004
9
Sample
Variance 0.569351 1.030157 0.582774049 0.630872 0.733780761
-
Kurtosis 0.706822 -1.18062 0.476690365 0.695571 -1.001441488
Skewness 0.758242 0.230314 0.3683068 0.814483 -0.45547155
Range 3 3 3 3 3
Minimum 1 1 1 1 1
Maximum 4 4 4 4 4
Sum 325 326 385 300 470
Count 150 150 150 150 150
Table 5.6: Descriptive Statistics of the Demographic Profile of Respondents from IT

industries
Monthly Duration-Existing Total
Age Level Income Organization Experience
Mean 1.96 1.473333 3.266666667 1.793333333 2.913333333
Standard 0.03260
Error 5 0.054091 0.067334463 0.083168069 0.080788434
Median 2 1 3 1 3
Mode 2 1 4 1 4
Standard 0.39932
Deviation 8 0.662481 0.824675382 1.018596657 0.989452202
Sample 0.15946
Variance 3 0.438881 0.680089485 1.03753915 0.97901566
3.33252
Kurtosis 4 0.880563 -0.770509124 0.061274307 -1.034376152
Skewness -0.33533 1.22202 -0.678097757 1.121023335 -0.371990759
Range 2 3 3 3 3
Minimum 1 1 1 1 1
Maximum 3 4 4 4 4
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Sum 294 221 490 269 437
Count 150 150 150 150 150
From Table 5.5 and 5.6 it could interpreted that Total number of respondents taken
under observation and filled the questionnaire and also chosen for the study purpose were 300.
In another part of section A Questionnaire, some questions are examining respondents for
their Age, Level, Monthly Income, Duration-Existing Organization, and Total Experience in
insurance and IT industries.
The descriptive statistics of these questions are as follows:
Table 5.7: Frequency Table of Gender Class

Gender
Valid Cumulative
Frequency Percent Percent Percent
Female 55 18.3333333 18.3333 18.3333
Male 245 81.6666667 81.6667 100
Valid Total 300 100 100
Source: Primary Data

Graph 5.1: Frequency of Gender Class
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Frequency of Gender Class
245
55
Female Male
According to Table 5.7, out of 300 respondents 55 (18.33%) of respondents were female and
remaining 245 (81.66%) were male. It represents that responses collected are male dominated,
which shows that number of men are higher at corporate as in insurance and IT industries rather
than female. It is generally long duration of working hours so because majorly men are working
in insurance and IT industries rather than women.
Table 5.8: Frequency Table of Age of Employees

Age of Employees Insurance IT Numbers %
18-24 21 13 34 11.3
25-34 95 126 221 73.7
35-44 25 9 34 11.3
Above 44 11 0 11 3.7
Graph 5.2: Frequency Table of Age of Employees
12
140 126
120
95
100
80
60
40 25
21
13 11
20 9
0
0
18-24 25-34 35-44 Above 44
Insurance IT
According to Table 5.8, Under Age wise classification out of 300 respondents(150 from
insurance and 150 from IT) 21 from insurance and 13 from IT (11.3%) were of under 18-24 age
group, 95 from insurance and 126 from IT (73.7%) respondents were of 25-34 age group, 25
from insurance and 9 from IT (11.3%) were of 35-44 age group and remaining 11 from insurance
and 0 from IT (3.7%) respondents were of More than 44 age group.
Mean value was 2.17, that means maximum number of the respondents are from 25- 50 age
group, Standard Deviation was 1.01 and variance was 1.03 for insurance and in IT Mean value
was 1.96, Standard Deviation was 0.399328 and variance was 0.159463 (Table 5.5 and Table
5.6).
Table 5.9: Frequency Table of Level of Work

Level of Work Insurance IT Total %
Executive 53 92 145 48.3
Supervisor 37 45 82 27.3
Manager 47 10 57 19.0
Senior Manager 15 1 16 5.3
13
Graph 5.3: Frequency Table of Level of Work
Level of Employees
Insurance IT
92
53
45 47
37
15
10
1
Executive Supervisor Manager Senior Manager
According to Table 5.8, Under the above classification out of 300 respondents (150 from
insurance and 150 from IT) 53 from insurance and 92 from IT (48.3%) were from Executive
group, 37 from insurance and 45 from IT (27.3%) respondents were from Supervisor group, 47
from insurance and 10 from IT (19 %) were from manager group and remaining 15 from
insurance and 1 from IT (5.3%) respondents were from Senior Manager group.
Statistics represents that, number of executives are high as compare to other level of respondents.
Mean value is 2.66, Standard Deviation is 0.754554 and variance is 0.569351for insurance and in
IT Mean value is 1.47, Standard Deviation is 0.66 and variance is 0.43 (Table 5.5 and Table
5.6).
Table 5.10: Frequency Table of Monthly Income

Monthly Income Insurance IT Total %
Below 10,000 6 2 8 2.7
10-20000 72 29 101 33.7
20-30000 54 43 97 32.3
Above 30000 20 74 94 31.3
14
Graph 5.4: Frequency of Monthly Income
Monthly Salary
Insurance IT
72 74
54
43
29
20
6
2
Below 10,000 10-20000 20-30000 Above 30000
According to Table 5.10, Under Monthly Income classification out of 300 respondents (150
from insurance and 150 from IT) 6 from insurance and 2 from IT (2.7%) have below 10,000
salary, 72 from insurance and 29 from IT (33.7%) respondents have 10-20,000 salary, 54 from
insurance and 43 from IT (32.3 %) have salary between 20-30,000 and remaining 20 from
insurance and 74 from IT (31.3%) respondents have above then 30000 salary.
Majority of respondents belongs to pay scale of 10-20,000 in insurance industry and this percent
is high in IT industry whose employees have more salary then 30,000. Mean value is 2.56,
Standard Deviation is 0.76 and variance is 0.58 for insurance and in IT Mean value is 3.26,
Standard Deviation is 0.82 and variance is 0.68 (Table 5.5 and Table 5.6).
Table 5.11: Frequency Table of Duration in the existing Organization

Duration in the existing Insurance IT Duration in the %
Organization existing
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Organization
0-2 Years 37 78 115 38.3
2-4 Years 87 43 130 43.3
4-6 Years 18 9 27 9.0
Above 6 years 10 18 28 9.3
Graph 5.5: Frequency of Duration in the existing Organization
Duration in Existing Organization

Insurance IT
87
78
43
37
18 18
9 10
0-2 Years 2-4 Years 4-6 Years Above 6 years
According to Table 5.11, Under the Duration in the existing Organization classification out of
300 respondents (150 from insurance and 150 from IT) 37 from insurance and 78 from IT
(38.3%) have 0-2 years of experience, 87 from insurance and 43 from IT (43.3%) respondents
have 2-4 years of experience, 18 from insurance and 9 from IT (9.0 %) have 4-6 years of
experience, 10 from insurance and 18 from IT (9.3%) respondents have above then 6 years of
experience.
Statistics showing that consistency of employees in insurance and IT industry is not so good.
But as compare in between both industries consistency is improving after 6 years in IT industry.
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Mean value is 2, Standard Deviation is 0.79 and variance is 0.63 for insurance and in IT Mean
value is 1.79, Standard Deviation is 1.01 and variance is 1.03 (Table 5.5 and Table 5.6).
Table 5.12: Frequency Table of Total Experience

Total Experience Insurance IT Total %age
0-2 Years 3 13 16 5.3
2-4 Years 37 41 78 26.0
4-6 Years 49 42 91 30.3
Above 6 years 63 54 117 39.0
Graph 5.6: Frequency of Total Experience
Total Experience
Insurance IT
63
54
49
41 42
37
13
0-2 Years 2-4 Years 4-6 Years Above 6 years
According to Table 5.12, Under the Total experience respondents classification (150 from
insurance and 150 from IT) 3 from insurance and 13 from IT (5.3%) have 0-2 years of
experience, 37 from insurance and 41 from IT (26.0%) respondents have 2-4 years of experience,
49 from insurance and 42 from IT (30.0 %) have 4-6 years of experience, 63 from insurance and
54 from IT (39.0%) respondents have above then 6 years of experience.
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Mean value is 3.13, Standard Deviation is 0.85 and variance is 0.73 for insurance and in IT Mean
value is 2.91, Standard Deviation is 0.97 and variance is 0.98 (Table 5.5 and Table 5.6).
5.6 ANALYSIS OF SECTION B OF QUESTIONNAIRE
5.6.1 DESCRIPTIVE STATISTICAL PRESENTATION OF DEMOGRAPHIC

STATUS OF RESPONDENT
Analysis of relationships between demographic variables of respondents and related non
monetary rewards to retain employees in industries with testing of hypothesis, In order to
investigate the relationship between demographic variables and non monetary rewards by the
respondents following hypotheses were formulated.
Table 5.13: Frequency Table of planning on working for another company within a period
of one year
I’m planning on working for In Numbers In % age

another company within a
period of one year. Insurance IT Insurance IT
Strongly Agree 12 7 6 3.5
Agree 80 11 40 5.5
Neither Agree Nor Disagree 36 44 18 22
Disagree 14 48 7 24
Strongly Disagree 10 40 5 20
Graph 5.7: Frequency of planning on working for another company within a period of one
year
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I’m planning on working for another company
within a period of one year.
In % age Insurance In % age IT
40
24
22
20
18
6 5.5 7
3.5 5
Strongly Agree Agree Neither Agree Nor Disagree Stronly Disagree

Disagree
According to Table 5.12 and graph, Under the statement of planning on working for another
company within a period of one year, classification out of 300 respondents 12 (6%) were
Strongly Agree, 80 (40%) were Agree, 36 (18%) were Neither Agree Nor Disagree, 14 (7%)
were of Disagree and remaining 10 (5%) were Strongly Disagree in insurance industry where as
in IT industry respondents 7 (3.5%) were Strongly Agree, 11 (5.5%) were Agree, 44 (22%) were
Neither Agree Nor Disagree, 48 (24%) were of Disagree and remaining 40 (20%) were Strongly
Disagree.
This statistics present that majority of respondents were in the group of insurance industry
showing that maximum percentage 40 whose are planning for other job within a one year where
in case of IT industry this percentage is low as only 5.5 employees are planning for next job in a
year. Data are showing that due to present scenario employees are not so much interested to
work with insurance industry, so industries are required to plan for retention of employees with
the help of non monetary rewards benefits.
Table 5.14: Frequency Table of work satisfaction within this company
Within this company my work In Numbers In % age

gives me satisfaction. Insurance IT Insurance IT
Strongly Agree 5 38 3.33 25.33
Agree 33 95 22.00 63.33
19
Neither Agree Nor Disagree 45 16 30.00 10.67
Disagree 52 1 34.67 0.67
Strongly Disagree 17 0 11.33 0.00
Graph 5.8: Frequency of within this company my work gives me satisfaction
Within this company my work gives me satisfaction.

63.33
34.67
30.00
25.33
22.00
10.67 11.33
3.33
0.67 0.00
Disagree
According to Table 5.14 and Graph 5.8 , Under the statement of within this company my
work gives me satisfaction, classification out of 300 respondents 5 (3.33%) were Strongly
Agree, 33 (22%) were Agree, 45 (30%) were Neither Agree Nor Disagree, 52 (34.67%) were of
Disagree and remaining 17 (11.33%) were Strongly Disagree in insurance industry where as in
IT industry respondents 38(25.33%) were Strongly Agree, 95 (63.33%) were Agree, 16 (10.67%)
were Neither Agree Nor Disagree, 1 (0.67%) were of Disagree and remaining 0 (0%) were
Strongly Disagree.
This statistics present that majority of respondents were in the group of IT industry showing that
maximum percentage 63.33 are agree with the statement that “Within this company my work
gives me satisfaction” means the level of satisfaction in IT industry is high as compare to
insurance industry and few people as only 22% employees of insurance industry ready to work in
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their current organization who are working on the higher post as collected information in section
of demographic part.
Table 5.15: Frequency Table of If I wanted to do another job or function, I would look
first at the possibilities within this company
If I wanted to do another job or In Numbers In % age

function, I would look first at
the possibilities within this
company. Insurance IT Insurance IT
Agree 40 60 26.67 40.00
Disagree 58 31 38.67 20.67
Graph 5.9: Frequency Table of If I wanted to do another job or function, I would look
first at the possibilities within this company
If I wanted to do another job or function, I

would look first at the possibilities within this
company.
40.00 38.67
26.67
22.67
20.00 20.67
13.33
9.33
6.67
3.33

Disagree
21
According to Table 5.15 and Graph 5.9, Under the statement of If I wanted to do another job
or function, I would look first at the possibilities within this company, classification out of
300 respondents 10 (6.66%) were Strongly Agree, 40 (26.67%) were Agree, 30 (20%) were
Neither Agree Nor Disagree, 58 (38.37%) were of Disagree and remaining 14 (9.33%) were
Strongly Disagree in insurance industry where as in IT industry respondents 34 (22.67%) were
Strongly Agree, 60 (40%) were Agree, 20 (13.33%) were Neither Agree Nor Disagree, 31
(20.67%) were of Disagree and remaining 5 (3.33%) were Strongly Disagree.
Here the majority of respondents were in the group of IT industry showing that maximum
percentage 40 who’s are agree with the statement that If I wanted to do another job or
function, I would look first at the possibilities within this company that means major
percentage of collected information showing that IT industry’s employees are more satisfied to
work within current organization and few employees 26.67% think to work with present
organization so here the stage where industries should think about non monetary rewards to
retain employees, specially more attention required in insurance industries. This part is also
justified in other section of this chapter entitled hypothesis testing.
Table 5.16: Frequency Table of I see a future for myself within this company
I see a future for myself within In Numbers In % age

this company Insurance IT Insurance IT
Strongly Agree 8 84 5.33 56
Agree 34 56 22.67 37.33
Disagree 53 0 35.33 0.00
Graph5.10: Frequency of I see a future for myself within this company
22
I see a future for myself within this company
56.00
37.33
35.33
29.33
22.67
8.67
5.33 5.33
0.00 1.33
Strongly Agree Agree Neither Agree Nor Disagree Strongly Disagree
Disagree
According to Table 5.16 and Graph 5.10, Under the statement of I see a future for myself
within this company, classification out of 300 respondents 8 (5.33%) were Strongly Agree, 34
(22.67%) were Agree, 44 (29.33%) were Neither Agree Nor Disagree, 53 (35.33%) were of
Disagree and remaining 13 (8.67%) were Strongly Disagree in insurance industry where as in IT
industry respondents 84 (56%) were Strongly Agree, 56 (37.33%) were Agree, 8 (5.53%) were
Neither Agree Nor Disagree, 0 (0%) were of Disagree and remaining 2 (1.33%) were Strongly
Disagree.
At this stage the majority of respondents are in the group of IT industry showing that maximum
of 56 % are strongly agree with the statement that I see a future for myself within this
company means that major percentage of collected information showing IT industries
employees are more satisfied to work within current organization and thinking about promotional
and positive towards the growth in industry where as 35.33 maximum percentage of employees
are disagree to see themselves in their current insurance industry. So at this stage where
industries should think about non monetary rewards to retain employees, especially on more
attention is required in insurance industries. This part is also justified in other section of this
chapter entitled hypothesis testing.
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Table 5.17: Frequency Table of It doesn’t matter if I’m working for this company or
another, as long as I have work.
It doesn’t matter if I’m In Numbers In % age

working for this company or
another, as long as I have
work. Insurance IT Insurance IT
Strongly Agree 30 60 20 40
Agree 73 61 48.67 40.67
Disagree 10 1 6.67 0.67
Graph 5.11: Frequency of It doesn’t matter if I’m working for this company or another, as
long as I have work.
It doesn’t matter if I’m working for this

company or another, as long as I have work.
48.67
40.00 40.67
20.00 22.00
11.33
6.67 7.33
4.00
0.67
Disagree
According to Table 5.17 and Graph 5.11, Under the statement of if I’m working for this
company or another, as long as I have work, classification out of 300 respondents 30 (20%)
24
were Strongly Agree, 73 (48.67%) were Agree, 33(22%) were Neither Agree Nor Disagree, 10
(6.67%) were of Disagree and remaining 6 (4%) were Strongly Disagree in insurance industry
where as in IT industry respondents 60 (40%) were Strongly Agree, 61 (40.67%) were Agree, 17
(11.33%) were Neither Agree Nor Disagree, 1 (0.67%) were of Disagree and remaining 11
(7.33%) were Strongly Disagree.
Statistics showing that in insurance industries employees are not so much worried to retain or
change their job where as in case of IT industries respondents are not so much agreed with the
statement, that means its matter for them that they are working which company. Means
maximum respondents are doing job idle so required to motivate them with the help of non
monetary rewards.
Table 5.18: Frequency of If it were up to me, I will definitely be working for this company
for the next five years.
If it were up to me, I will In Numbers In % age

definitely be working for this
company for the next five
years. Insurance IT Insurance IT
Strongly Agree 3 90 2 60
Agree 32 13 21.33 8.67
Disagree 60 0 40.00 0.00
Graph 5.12: Frequency of If it were up to me, I will definitely be working for this company
for the next five years
25
If it were up to me, I will definitely be working
for this company for the next five years.
60.00
40.00
30.67
28.00
21.33
8.67 10.00
2.00 0.00 0.67
Disagree
According to Table 5.18 and Graph 5.12, Under the statement of If it were up to me, I will
definitely be working for this company for the next five years, classification out of 300
respondents 3 (2%) were Strongly Agree, 32 (21.33%) were Agree, 42(28%) were Neither Agree
Nor Disagree, 60 (40%) were of Disagree and remaining 15 (10%) were Strongly Disagree in
insurance industry where as in IT industry respondents 90 (60%) were Strongly Agree, 13
(8.67%) were Agree, 46 (30.67%) were Neither Agree Nor Disagree, 0(0%) were of Disagree
and remaining 1(0.67%) were Strongly Disagree.
Statistics showing that IT industries employees are strongly agree (60%) to work for next five
years in current industry, where as in insurance industry only 2% employees are agree to work
for next five years in their existing industry so require to give satisfaction in terms of non
monetary rewards and chance of opportunities for growth.
Table 5.19: Frequency Table of If I could start over again, I would choose to work for
another company.
If I could start over again, I In Numbers In % age

would choose to work for Insurance IT Insurance IT
26
another company.
Agree 67 14 44.67 9.33
Disagree 38 108 25.33 72.00
Graph 5.13: Frequency of If I could start over again, I would choose to work for another
company.
If I could start over again, I would choose to work for

another company.
72.00
44.67
25.33
12.67 14.00 13.33

9.33
4.67 5.33
0.00
Disagree
According to Table 5.19 and Graph 5.13, Under the statement of If I could start over again, I
would choose to work for another company, classification out of 300 respondents 19 (12.67%)
were Strongly Agree, 67 (44.67%) were Agree, 21(14%) were Neither Agree Nor Disagree, 38
(25.33%) were of Disagree and remaining 7 (4.67%) were Strongly Disagree in insurance
industry where as in IT industry respondents 0 (0%) were Strongly Agree, 14 (9.33%) were
Agree, 20 (13.33%) were Neither Agree Nor Disagree, 108(72%) were of Disagree and
remaining 8(5.33%) were Strongly Disagree.
27
Statistics showing that in IT industries employees are disagree with the statement but insurance
employees agree, which is showing that insurance industries employees are not happy with
current organization so require to give them non monetary rewards and improve the pattern of
working so industries able to retain them.
Table 5.20: Frequency table of if I receive an attractive job offer from another company, I
would take the job.
If I receive an attractive job In Numbers In % age

offer from another company, I
would take the job. Insurance IT Insurance IT
Agree 69 111 46 74.00
Disagree 2 6 1.33 4.00
Graph 5.14: Frequency of I receive an attractive job offer from another company, I would
take the job.
If I receive an attractive job offer from another

company, I would take the job.
74.00
46
35.3333333333333
18 17.33
4.00 0.66666666666666
4.00 1.33333333333333
7 0.67
Disagree
28
According to Table 5.20 and Graph 5.14, under the statement I receive an attractive job offer
from another company, I would take the job, classification out of 300 respondents 27 (18%)
were Strongly Agree, 69 (46%) were Agree, 53(35.33%) were Neither Agree Nor Disagree, 2
(1.33%) were of Disagree and remaining 1 (0.67%) were Strongly Disagree in insurance industry
where as in IT industry respondents 26 (17.33%) were Strongly Agree, 111 (74%) were Agree, 6
(4%) were Neither Agree Nor Disagree, 6 (4%) were of Disagree and remaining 1 (0.67%) were
Strongly Disagree.
Statistics showing that in IT industry (74%) employees and insurance industries (46%)
employees’ are agree with statement and ready to change their job. Reason behind that both
industries employees are conscious for growth and opportunity. So industries require giving such
platforms which provide good scope for opportunities and growth and also need to give non
monetary rewards to them.
Table 5.21: Frequency table of the work I’m doing is very important to me.
The work I’m doing is very In Numbers In % age

important to me. Insurance IT Insurance IT
Agree 59 73 39.33 48.67
Disagree 23 0 15.33 0.00
Graph 5.15: Frequency of the work I’m doing is very important to me.
29
The work I’m doing is very important to me.
48.67
39.33
34.67
32.67
16.67 15.33
11.33
2.67
0.00 0.00
Disagree
According to Table 5.21 and Graph 5.15, under the statement I’m doing is very important to
me, classification out of 300 respondents 17 (11.33%) were Strongly Agree, 59 (39.33%) were
Agree, 49 (32.67%) were Neither Agree Nor Disagree, 23 (15.33%) were of Disagree and
remaining 4 (2.67%) were Strongly Disagree in insurance industry where as in IT industry
respondents 52 (34.67%) were Strongly Agree, 73 (48.67%) were Agree, 25 (16.67%) were
Neither Agree Nor Disagree, 0 (0%) were of Disagree and remaining 0 (0%) were Strongly
Disagree.
Statistics showing that in IT industries employees’ percentage is high with the agreement scale of
importance of their jobs, where in the case of insurance the percentage is low as compare to IT
industry. That means employees require such platform which gives respect to them in their eyes
and they feel themselves that work which they are doing is as important as others.
Table 5.22: Frequency table of I love working for this company.
I love working for this In Numbers In % age
company. Insurance IT Insurance IT
Agree 28 66 18.67 44.00
30
Disagree 31 0 20.67 0.00

Graph 5.16: Frequency of I love working for this company.
I love working for this company.

44.00
32.67
30.67
23.33
20.67
18.00 18.67
12.00
0.00 0.00
Disagree

According to Table 5.22 and Graph 5.16, under the statement I love working for this
company, classification out of 300 respondents 27 (18%) were Strongly Agree, 28 (18.67%)
were Agree, 46 (30.67%) were Neither Agree Nor Disagree, 31 (20.67%) were of Disagree and
remaining 18 (12%) were Strongly Disagree in insurance industry where as in IT industry
respondents 49 (32.67%) were Strongly Agree, 66 (44%) were Agree, 35 (23.33%) were Neither
Agree Nor Disagree, 0 (0%) were of Disagree and remaining 0 (0%) were Strongly Disagree.
Here the majority of respondents were in the group of IT industry showing that maximum 44%
employees are agree with the statement that I love working for this company but in insurance
only few employees says yes about their affection towards current job. So it is directly emphasis
on system, require giving non monetary rewards to retain such employees.
Table 5.23: Frequency table of I have checked out a job in another company previously.
31
I have checked out a job in In Numbers In % age
another company previously. Insurance IT Insurance IT
Agree 82 44 54.67 29.33
Disagree 10 82 6.67 54.67
Graph 5.17: Frequency of I have checked out a job in another company previously.
I have checked out a job in another company

previously.
54.67 54.67
29.33
19.33 19.33
10.00
6.67 4.67
1.33 1.33
Disagree

According to Table 5.23 and Graph 5.17, under the statement I have checked out a job in
another company previously, classification out of 300 respondents 29 (19.33%) were Strongly
Agree, 82 (54.67%) were Agree, 29 (19.33%) were Neither Agree Nor Disagree, 10 (6.67%)
were of Disagree and remaining 2 (1.33%) were Strongly Disagree in insurance industry where
as in IT industry respondents 2 (1.33%) were Strongly Agree, 44 (29.33%) were Agree, 15
(10%) were Neither Agree Nor Disagree, 82 (54.67%) were of Disagree and remaining 7
32
Here the majority of respondents were in the group of IT industry showing that maximum
54.67% employees are disagree with the statement that I have checked out a job in another
company previously means, they have directly joined their existing organization and satisfied
with it . Where as in insurance industry this situation is opposite with same 54.67% employees
tried job earlier and because as they have not found job elsewhere so working with this industry.
Table 5.24: Frequency table of I am quite proud to be able to tell people who is that I work
for.
In Numbers In % age
I am quite proud to be able to
tell people who is that I work
for. Insurance IT Insurance IT
Agree 98 74 65.33 49.33
Disagree 9 27 6.00 18.00
Graph 5.18: Frequency of I am quite proud to be able to tell people who is that I work for.
33
I am quite proud to be able to tell people who
is that I work for.
65.33
49.33
32.00
18.00 18.00
10.67
6.00
0.67 1.33 0.00
Disagree
According to Table 5.24 and Graph 5.18, under the statement I am quite proud to be able to
tell people who is that I work for, classification out of 300 respondents 16 (10.67%) were
Strongly Agree, 98 (65.33%) were Agree, 27 (18%) were Neither Agree Nor Disagree, 9 (6%)
were of Disagree and remaining 2 (1.33%) were Strongly Disagree in insurance industry where
as in IT industry respondents 48 (32%) were Strongly Agree, 74 (49.33%) were Agree, 1
(0.67%) were Neither Agree Nor Disagree, 27 (18%) were of Disagree and remaining 0 (0%)
were Strongly Disagree.
The majority of respondents were in the group of IT industry showing that maximum percentage
65.33% whose are agree with the statement that I am quite proud to be able to tell people who
is that I work for, means in IT industries employees feel proud to work with their current
organization where as in case of insurance employees are not feeling proud, so require focuses
on non monetary type rewards.
Table 5.25: Frequency table of I feel myself to be a part of the organization
I feel myself to be a part of the In Numbers In % age
34
organization Insurance IT Insurance IT
Agree 42 71 28 47.33
Disagree 47 0 31.33 0.00
Graph 5.19: Frequency of I feel myself to be a part of the organization
I feel myself to be a part of the organization

47.33
41.33
31.3333333333331
28
24.6666666666667
10 10.67
7.33333333333336
0.00 0.67
Disagree

According to Table 5.25 and Graph 5.19, under the statement of I feel myself to be a part of
the organization, classification out of 300 respondents 15 (10%) were Strongly Agree, 42 (28%)
were Agree, 37 (24.67%) were Neither Agree Nor Disagree, 47 (31.33%) were of Disagree and
remaining 11 (7.33%) were Strongly Disagree in insurance industry where as in IT industry
respondents 62 (41.33%) were Strongly Agree, 71 (47.33%) were Agree, 16 (10.67%) were
Neither Agree Nor Disagree, 0 (0%) were of Disagree and remaining 1 (0.67%) were Strongly
Disagree.
35
The majority of respondents were in the group of IT industry showing that they feel proud to be a
part of the organization and showing positive attitude towards the industry, but in case of
insurance employees only few are positive so require giving some rewards and make healthy
relationship with them.
Table 5.26: Frequency table of the offer of a bit more money with another employer would
not seriously make me think of changing my job.
The offer of a bit more money with In Numbers In % age
another employer would not seriously

make me think of changing my job. Insurance IT Insurance IT
Agree 37 91 24.67 60.67
Disagree 55 9 36.67 6.00
Graph 5.20: Frequency of The offer of a bit more money with another employer would not
seriously make me think of changing my job.
36
The offer of a bit more money with another
employer would not seriously make me think
of changing my job.
60.67
36.67
24.00 24.67 24.67
6.67 8.67 6.00 8.67

0.67
Disagree
According to Table 5.26 and Graph 5.20, under the statement I am quite proud to be able to
tell people who is that I work for, classification out of 300 respondents 10 (6.67%) were
Strongly Agree, 37 (24.67%) were Agree, 37 (24.67%) were Neither Agree Nor Disagree, 55
(36.67%) were of Disagree and remaining 13 (8.67%) were Strongly Disagree in insurance
industry where as in IT industry respondents 36 (24%) were Strongly Agree, 91 (60.67%) were
Agree, 13 (8.67%) were Neither Agree Nor Disagree, 9 (6%) were of Disagree and remaining 1
The majority of respondents were in the group of IT industry agree with the statement that no
one can divert to them for their job but in case of insurance industry employees they may divert
if they will get good proposal.
This is the interpretation of questionnaire (part B), which interpret that both industries required
non monetary rewards. Whereas insurance industries require more attention towards the types of
non monetary rewards to retain employees as compare to IT industries. In IT industries the level
of agreement on five point likert scale was high towards the positivity to work with current
industry where as in case of insurance only few employees are positive which are those, who are
37
mostly on the higher post. This interpretation will more justified by the next part of analysis with
the help of hypothesis testing.
5.6.2 ANALYSIS OF SECTION B OF QUESTIONNAIRE FOR HYPOTHESIS TESTING

H0B : There is no significant difference between insurance and IT industries respondents
towards the opinion of non monetary rewards usefulness to retain employees.
H1B : There is significant difference between insurance and IT industries respondents

towards the opinion of non monetary rewards usefulness to retain employees.
Table 5.27: F-Test Two-Sample for Variances
F-Test Two-Sample for Variances

Insurance IT
Mean 485.3571429 560.6428571
Variance 4136.708791 12537.93956
Observations 14 14
df 13 13
F 0.329935295
P(F<=f) one-tail 0.027753575
F Critical one-tail 0.388059098
As can seen from the result (Table-5.27), since Fcalculted (0.329935295) < Ftabulated
(0.388059098), hence we accept the null hypothesis and state that there is no significant
difference between insurance and IT industries respondents towards the opinion of non
monetary rewards usefulness to retain employees. Interpret that both industries employee are
agree that non monetary rewards are playing big role to retain them.
5.7 ANALYSIS OF SECTION C OF QUESTIONNAIRE

5.7.2 ANALYSIS OF PERCEPTION ABOUT AVAILABILITY OF STRATEGIES
In this section of questionnaire respondents were asked their perception about various strategies
are available in there company. Responds are collected on the basis of various parameters as
shown in table 5.28.
Table 5.28:- AVAILABILITY OF STRATEGIES
38
Available
S. No. Rewards/Benefits
Yes No
1 Flexible working hours
2 Help in career planning
3 Work from Home
4 Free Medical Insurance
5 Free Movie Tickets
6 Job Rotation and New Assignments
7 Recognition on Birthdays
8 On-site day care (crèche)
9 Employee of the Month award
10 Employee Suggestion Program
11 Training Opportunities
12 Free Food
13 Annual Performance Appraisal
14 Preferred Office Space
Gifts of Personalized Items (Shirts, jackets, Planners,

15
Mugs etc)
16 Loan Assistance
17 Gym Membership
18 Healthcare Benefits/ Free Medical Insurance
19 Free Cell Phone (Handset)
20 Company laptop
39
21 Growth / Promotion Opportunities
22 Hygienic Work Environment
23 Recognition of good work
24 Good Relationship with Supervisor
25 Redesigning of Job Profile
26 Extra Leave/Off
27 Feedback to an employee about his or her performance
28 Public Praise at a Staff Meeting
Publishing Good performance acts in in-house journals

29
and in public press
Facilitating High performance employees on special

30
occasions like annual day.
31 Outdoor trips with or without family.
32 Compulsory off on birthdays and Anniversaries
33 Retention Bonus
34 Elite club Membership
35 Networking with Schools, Collages, Hospitals
Source: Questionnaire, Primary Data
Below Table - 5.29 analyzed the perception about availability of strategies on various parameters
of rewards/benefits with graphical presentation as Graph -5.21:- Graphical presentation of Yes
(Availability) of Insurance and IT industries Respondents and Graph -5.22:- Graphical
presentation of No (Non Availability) of Insurance and IT industries Respondents.
Table 5.29:- ANALYSIS OF PERCEPTION ABOUT AVAILABILITY OF STRATEGIES
Insurance IT
40
No. of No. of
Statements 1 (Yes) 0 (No) Statements 1 (Yes) 0 (No)
1 127 23 1 9 141
2 38 112 2 50 100
3 148 2 3 44 106
4 31 119 4 39 111
5 149 1 5 103 47
6 138 12 6 37 113
7 37 113 7 10 140
8 146 4 8 89 61
9 30 120 9 30 120
10 51 99 10 54 96
11 14 136 11 15 135
12 143 7 12 106 44
13 5 145 13 6 144
14 69 81 14 41 109
15 145 5 15 66 84
16 131 19 16 59 91
17 141 9 17 113 37
18 31 119 18 47 103
19 120 30 19 134 16
20 68 82 20 54 96
21 7 143 21 20 130
22 42 108 22 19 131
23 6 144 23 17 133
24 0 150 24 4 146
25 94 56 25 41 109
26 120 30 26 68 82
41
27 41 109 27 19 131
28 37 113 28 31 119
29 42 108 29 46 104
30 28 122 30 56 94
31 136 14 31 35 115
32 140 10 32 128 22
33 136 14 33 104 46
34 141 9 34 121 29
35 137 13 35 101 49
Source: Questionnaire, Primary Data
42
Graph -5.21:- Graphical presentation of Yes of Insurance and IT industries Respondents
ANALYSIS OF PERCEPTION ABOUT AVAILABIL-

ITY OF STRATEGIES (Yes)
160
140
120
100
80
60
40
20
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Insurance 1 (Yes) IT 1 (Yes)

Table 5.29 (Analysis of Perception about Availability of Strategies) and Graph -5.21 (Graphical
presentation of Yes of Insurance and IT industries), showing that maximum number of insurance
industries respondents are agree towards availability of Rewards/ Benefits related facilities
providing by industry. That means there is good availability of factors as Opportunity, Facilities,
Recognition, Entertainment and Flexibility and related variables, where as in case of IT
respondents not showing that much score on yes for factors (OFREF) means in IT industries do
not have as much availability as in insurance industry have.
43
Graph -5.22:- Graphical presentation of No of Insurance and IT industries Respondents.
ANALYSIS OF PERCEPTION ABOUT AVAILABIL-

ITY OF STRATEGIES (No)
160
140
120
100
80
60
40
20
0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Insurance 0 (No) IT 0 (No)

Table 5.29 (Analysis of Perception about Availability of Strategies) and Graph -5.22 (Graphical
presentation of No of Insurance and IT industries), showing that maximum number of IT
industries respondents showing No, means in IT industries not have good availability of factors
(OFREF) or related variables where as in insurance industries few respondents not agree
towards the availability of factors and related variables as compare to IT industries respondents.
Hypothesis
H0 :- There is no availability of non monetary rewards for Employees in Insurance and IT
industries.
44
H1:- There is availability of non monetary rewards for Employees in Insurance and IT
industries.
Table 5.30 Z-test two samples for Mean

Z-Test: Two Sample for Means

Insurance IT
Mean 81.97143 54.74286
Known Variance 3002.97 1442.432
Observations 35 35
Hypothesized Mean Difference 0
z 2.416036
P(Z<=z) one-tail 0.007845
z Critical one-tail 1.644854
P(Z<=z) two-tail 0.015691
z Critical two-tail 1.959964
Result interpret that the Zcal > Zcritical in both cases one tailed and two tailed, which shows that null
hypothesis is reject and we accept the alternative hypothesis. Here it also shows that the p-value
is also greater then significance value so reject null hypothesis.
An employee of insurance and IT industries agrees that there is availability of non monetary
rewards in their industries. The graphical presentation of both industries (Grpag-5.21 and 5.22)
showing that non monetary rewards are more available in insurance as compare to IT industries.
Further analyzing (Table -5.31) the correlation in between the insurance and IT industries
respondents towards the non monetary rewards usefulness to retain them.
45
Table: - 5.31- Correlation table for Availability of the strategies in company.
S. No. Insurance IT
1 747 702
2 704 664
Opportunities 3 754 699
4 775 738
5 780 737
6 695 619
7 749 677
8 559 587
9 739 666
10 531 538
11 756 661
12 651 535
Facilities
13 377 622
14 390 554
15 764 673
16 457 487
17 392 611
18 771 735
19 760 669
20 696 625
21 744 670
22 768 737
23 771 737
Recognition
24 768 729
25 763 677
26 759 650
27 761 692
Entertainment 28 469 464
46
29 717 646
30 435 593
31 481 554
32 429 597
33 722 710
Flexibility
34 736 708
35 717 670
Correlation r = 0.779881
This is a positive correlation between

There is a positive correlation between constructs of both insurance and IT industries
employees, means both industries respondents are agree for factors as – Opportunities,
Facilities, Recognition, Entertainment and Flexibility related facilities and services plays
a huge role to retain employees in the industry.
So Industries required to give attention for all the above factors. Further it is analyzed
that how above factors are affecting the retention of employees in terms of non monetary
rewards.
5.4.1 Consequences for Opportunities related non monetary rewards provided by

insurance and IT industries for employees to retain them.
In order to investigate the divergence for the opportunities related non monetary rewards
provided by insurance and IT industries for employees to retain them, following
hypotheses are formulated:
H01 : There is no difference between retention of employees in Insurance and IT

industries with respect to their opinions towards the opportunities related to non
monetary rewards provided by industries.
47
H11 : There is difference between retention of employees in Insurance and IT industries
with respect to their opinions towards the opportunities related to non monetary
rewards provided by industries.
Table 5.24 :- Anova Single Factor for Opportunities related non monetary rewards
provided by insurance and IT industries
Anova: Single Factor

SUMMARY
Groups Count Sum Average Variance
Insurance 5 3760 752 911.5
IT 5 3540 708 948.5
ANOVA
Source of Variation SS df MS F P-value F crit
Between Groups 4840 1 4840 5.204301 0.051966 5.317655
Within Groups 7440 8 930
Total 12280 9
The result indicates that observed value Fcalculated (5.204301) < Ftabulated (5.317655). Also note that p
value is 0.051966 which is greater than significance level of 0.05, hence we accept the null
hypothesis. Thus we conclude that there is no difference between retention in Insurance and
IT industries employees with respect to their opinions towards the opportunities related
non monetary rewards provided by industries.
Results also shows that the retention is high in IT industries as compare to insurance industries,
so opportunities related non monetary rewards as Help in career planning, Job Rotation and
New Assignments, Training Opportunities, Growth / Promotion Opportunities and Good
Relationship with Supervisor are more important for employees of insurance industries.
48
5.4.2 Consequences for Facilities related non monetary rewards provided by insurance
and IT industries for employees to retain them.
In order to investigate the divergence for the opportunities related non monetary rewards
provided by insurance and IT industries for employees to retain them, following hypotheses are
formulated:

industries with respect to their opinions towards the facilities related to non

with respect to their opinions towards the facilities related to non monetary
Table 5.25 :- Facilities related non monetary rewards provided by insurance and IT
industries
Facilities

SUMMARY
Insurance 14 8591 613.6429 24661.48
IT 14 8634 616.7143 4807.604

ANOVA
Between Groups 66.03571 1 66.03571 0.004482 0.947137 4.225201
Within Groups 383098.1 26 14734.54
Total 383164.1 27
The result indicates that observed value F calculated (0.004482) < Ftabulated (4.225201). Also note that p
49
IT industries employees with respect to their opinions towards the facilities related non
Results also shows that the retention is high in IT industries as compare to insurance industries
(high variance), so opportunities related non monetary rewards as Work from Home, Free
Medical Insurance, On-site day care (crèche), Employee Suggestion Program, Free Food,
Preferred Office Space, Gifts of Personalized Items (Shirts, jackets, Planners, Mugs etc),
Loan Assistance, Gym Membership, Healthcare Benefits/ Free Medical Insurance, Free
Cell Phone (Handset), Company laptop, Hygienic Work Environment and Outdoor trips
with or without family are important for employees. As F critical value is too high as
compare to F calculated, which is focusing that facilities related services plays big role to retain
employees.
5.4.3 Consequences for Recognition related non monetary rewards provided by insurance
In order to investigate the divergence for the recognition related non monetary rewards provided
by insurance and IT industries for employees to retain them, following hypotheses are
formulated:

industries with respect to their opinions towards the recognition related to non

with respect to their opinions towards the recognition related to non monetary
Table 5.25 :- Recognition related non monetary rewards provided by insurance and IT
industries
Recognition
SUMMARY
Insurance 8 6030 753.75 614.2143
50
IT 8 5517 689.625 1762.268

ANOVA
Between Groups 16448.06 1 16448.06 13.84236 0.002283 4.60011
Within Groups 16635.38 14 1188.241
Total 33083.44 15
The result indicates that observed value Fcalculated (13.84236) > Ftabulted 4.60011. Also note that p
value is 0.002283 which is less than significance level of 0.05, hence we reject the null
hypothesis. Thus we conclude that there is difference between retention in Insurance and IT
industries employees with respect to their opinions towards the recognition related non
monetary rewards as Recognition on Birthdays, Employee of the Month award, Annual
Performance Appraisal, Recognition of good work, Feedback to an employee about his or
her performance, Public Praise at a Staff Meeting, Publishing Good performance acts in
in-house journals and in public press, Facilitating High performance employees on special
occasions like annual day provided by industries.
5.4.4 Consequences for entertainment related non monetary rewards provided by

insurance and IT industries for employees to retain them.
In order to investigate the divergence for the entertainment related non monetary rewards
formulated:

industries with respect to their opinions towards the entertainment related to non
H14: There is difference between retention of employees in Insurance and IT industries

with respect to their opinions towards the entertainment related to non monetary
51
Table 5.25 :- Entertainment related non monetary rewards provided by insurance and
IT industries
Entertainment
SUMMARY
Column 1 4 2102 525.5 16678.33
Column 2 4 2257 564.25 5888.25
ANOVA
Between Groups 3003.125 1 3003.125 0.266157 0.624374 5.987378
Within Groups 67699.75 6 11283.29
Total 70702.88 7
The result indicates that observed value F calculated (0.266157) < Ftabulated (5.987378). Also note that p
hypothesis. Thus we conclude that there is difference between retention in Insurance and IT
industries employees with respect to their opinions towards the entertainment related non
monetary rewards as Free Movie Tickets, Outdoor trips with or without family,
Compulsory off on birthdays and Anniversaries, Elite club Membership, Networking with
Schools, Collages, Hospitals provided by industries.
Result interpreted that the entertainment related facilities and services require by both industries
employees, but it’s not playing important role to retain them. Entertainment related facilities
should provide by industries because it makes good and healthy environment.
5.4.5 Consequences for flexibility related non monetary rewards provided by insurance
In order to investigate the divergence for the entertainment related non monetary rewards
formulated:
52
industries with respect to their opinions towards the flexibility related to non
H15: There is difference between retention of employees in Insurance and IT industries

with respect to their opinions towards the flexibility related to non monetary
Table 5.26 :- Flexibility related non monetary rewards provided by insurance and IT
industries

SUMMARY
Column 1 4 2604 651 21968.67
Column 2 4 2685 671.25 2788.917

ANOVA
Between Groups 820.125 1 820.125 0.066252 0.805474 5.987378
Within Groups 74272.75 6 12378.79
Total 75092.88 7
The result indicates that observed value Fcalculated (0.066252) < F tabulared (5.987378). Also note that p
IT industries employees with respect to their opinions towards the flexibility related non
monetary rewards as Flexible working hours, Redesigning of Job Profile, Extra Leave/Off
provided by industries.
Table 5.27: Acceptance and Rejection of Hypotheses
S. No. Hypotheses Significant Status

1. H01 Non Significant Accepted
3. H03 Significant Rejected
53
So by the acceptance and rejection of hypotheses formulated for investigating the

relationship between variables like Flexible working hours, Help in career planning,
Work from Home, Free Medical Insurance, Free Movie Tickets, Job Rotation and New
Assignments, Recognition on Birthdays, On-site day care (crèche), Employee of the
Month award, Employee Suggestion Program, Training Opportunities, Free Food,
Annual Performance Appraisal, Preferred Office Space, Gifts of Personalized Items
(Shirts, jackets, Planners, Mugs etc), Loan Assistance, Gym Membership, Healthcare
Benefits/ Free Medical Insurance, Free Cell Phone (Handset), Company laptop, Growth /
Promotion Opportunities, Hygienic Work Environment, Recognition of good work,
Good Relationship with Supervisor, Redesigning of Job Profile, Extra Leave/Off,
Feedback to an employee about his or her performance, Public Praise at a Staff Meeting,
Publishing Good performance acts in in-house journals and in public press, Facilitating
High performance employees on special occasions like annual day, Outdoor trips with or
without family, Compulsory off on birthdays and Anniversaries, Retention Bonus, Elite
club Membership, Networking with Schools, Collages, Hospitals, and non monetary
rewards usefulness to retain employees. It could be interpreted that gender, type of
organization, age, income, experience with existing organization and total experience are
the significant variables about the perception of non monetary related facilities and
services.
It’s also analyzed by F-Test Two-Sample for Variances (Insurance and IT industries).
Table: - 5.28 F-Test Two-Sample for Variances (Insurance and IT industries).

F-Test Two-Sample for Variances
Insurance IT
54
Mean 752 708
Variance 911.5 948.5
Observations 5 5
df 4 4
F 0.960991
P(F<=f) one-tail 0.485083
F Critical one-tail 0.156538
As can be seen form the result, since F calculated (0.960991) > Fcritical (0.156538) hence we reject the
null hypothesis and state there is a difference between retention in Insurance and IT industries
employees with respect to their opinions towards the opportunities related non monetary
However, note that p-value is 0.485083 which is greater than significance value of 0.05 and
hence we accept the null hypothesis.
Conclusion
The basic aim of organizing this chapter is to examine the issues related to the E-Banking
and related services including the perception of customers for the E-Banking service
offered to them by their banks. For this purpose the data collection was done through
three systematic and structured questionnaires. Questionnaire was administered for those
respondents who were living in the rural and urban segment of Udaipur and Rajasmand
District of Rajasthan State of India. Questionnaire was very well partitioned into various
segments for systematic collection of demographic, respondent’s opinion for the E-
Banking service offered by their Banks to them, their perception about the service offered
and how they would rank them, their opinion about the identified benefits delivered by
the application of E-Banking channel including their opinion for the positive and negative
factors which directly or indirectly affects the adoption of E-Banking and related
services.
Reliability of collected data was measured by Cronbach’s alpha (α) analysis, which is a
commonly used method where alpha coefficient values range between 0 and 1 with
55
higher values indicating higher reliability among the indicators. According to this
analysis the captured data was up to mark and can be used for further analysis.
Total 300 Questionnaires were distributed on convenience sampling method, where

researcher took care of those respondents who can systematically fill the questionnaire.
Researcher gave a brief about the questionnaire and objective of research so that the
respondents could better give their responses for the administered question under five
different sections of questionnaire. Sections of questionnaire were as follows:
Section A: This section of the questionnaire contains demographic information

statement for the respondent and also collects the information related to the respondent’s
bank and their account type.
Section B: This section of questionnaire is designed to examine the respondent’s

awareness for the E-Banking services offered to their account holders. And will also
covers the statements that will investigate that whether their opinion for the specific type
of E-Banking services. One of the questions examines that respondents found E-Banking
services useful for them at which extent.
Section C: This section of questionnaire is designed to examine the respondent’s

opinion for the E-Banking services offered to them by their banks. The questions of this
section will examine the respondent’s opinion for the contribution made by E-Banking in
developing and improving the quality of Banking. One of the questions examines the
overall satisfaction of respondents for the E-Banking services.
Section D: This section of questionnaire is designed to examine the respondent’s

opinion for the benefits offered E-Banking services in comparison to the traditional
banking. The questions of this section will examine the respondent’s opinion for the
contribution made by E-Banking in developing and improving the quality of Banking.
One of the questions examines the overall satisfaction of respondents for the benefits
derived from E-Banking services.
56
Section E: This section of the questionnaire examines the respondent’s opinion for
both the positive and negative factors which affects the adoption of E-Banking.
Descriptive Statistics about the demographic segment of respondents was presented in a

systematic form in Table 4.3, where total number of respondents’ participated, minimum
and maximum value of the variable, mean value, standard deviation and variance was
classified under related heads. Descriptive Statistics about the bank status of respondents
means to which bank respondents belongs was presented in a systematic form in Table
4.4, where type of account, number of years from which user is acquiring the services and
category of bank with minimum and maximum value of the variable, mean value,
standard deviation and variance was classified under related heads.
Frequency tables (4.3 to 4.11) and graphs (4.1 to 4.8) were presented about the Gender,
Age, Educational Qualification, Occupation, Type of Account user have, Number of
years user have bank account and Type of Bank of respondents.
To examine the significance of established hypotheses Test of Homogeneity of Variance

(Levene Statistic), One Way ANOVA was performed. Levene’s Test for Equality of
Variance is performed to test condition that the variances of both samples are equal or
not. From the Levene’s Test and ANOVA performed to examine the hypotheses H 01
found non significant and accepted and other hypotheses H02, H03 and H04 were found
significant and rejected.
For analyzing relationship between e-banking services and relative importance for
respondents and allied usability, Chi-Square technique was used, which is a useful
technique because it can be used to examine if there’s a relationship between two ordinal
variables, two nominal variables, or between an ordinal and a nominal variable and to
understand the basic relationship between interval (scale) variables bivariate correlation
was used. Results were presented in tables from 4.19 to 4.22. From the observation of
results of Table 4.21 and Table 4.22 the relationship between the applicability of E-
57
Banking services by banks and its allied usability for users was found statistically
significant.
Relative Importance of E-Banking Service and Usability of E-Banking Service for Users
were also tested from the same tests and the related data was presented in Tables from
4.23 to 4.25. From the observation of results it was interpreted that the relationship
between relative importance of E-Banking services and its allied usability for users is
statistically significant. So it could understand that higher the relative importance of E-
Banking services would definitely affects the uses pattern by the respondents or users.
For analyzing the relationship between the several E-Banking services and their usability,
researcher had taken an average of total marks for all the kind of E-Banking services and
then cross tabulation analysis was performed where Chi-Square test and bivariate
analysis was performed for examining the relationship’s significance. And related
hypothesis was formulated. The related data was presented in Tables from 4.26 to 4.29.
From the observation of results it was interpreted that the relationship between Customer
Services Related to E-Banking Service and Usability of E-Banking Service for Users is
statistically significant.
Correlation Analysis to examine Relationship between Customer Services Related to E-

Banking Service and Usability of E-Banking Service for Users and From Table 4.30 it
was interpreted that that Relationship between Customer Services Related to E-Banking
Service and Usability of E-Banking Service for Users is positive (.321) and found
significant (.000). And from Table 4.31 values, such as the mean score is .94167,
standard deviation is 1.89192, the standard error of .10923, the 299 degrees of freedom,
and the t of 8.621 and the two-tailed significance value (p) was .000, it was observed that
null hypothesis H o5 could rejected and alternate hypothesis H15 could accept.
For analyzing the respondents opinion for the E-Banking and related services offered by
banks hypotheses 6, 7, 8 were established and from the analysis if the significance values
found are less than .05, then null hypothesis was rejected and if found values are higher
58
than the .05 value than null hypothesis was accepted. For the analysis two different
classes which were related to the improvements made by the E-Banking are formed that
were customer specific improvements and bank specific improvements. By the
observation of Table 4.35 it was concluded that F statistics of category of E-Banking
service improvement relates was .031 and its related significance level was .141 so null
hypothesis H06 was accepted, for opinion ranking factor F statistics was 1.549 and its
significance level .048, so null hypothesis H07 was rejected. For the interaction between
the category and opinion ranking the F statistics was found 1.055 and significance value
was .229 which proves that null hypothesis, H08 must be accepted.
For the responses about the satisfaction for the improvement made by E-Banking services
56.3 percent of the total population was agreeing or showing mix responses for it. And
approx 8.00 percent were not confirm about their responses.
Principal component analysis was used for extracting factors from the various statements
and opinions of respondents about benefits derived from E-Banking services. All the
statements are asked to give a rank according to the defined Likert scale technique.
Question number 16 of questionnaire was administered for this. This question’s analysis
will help to recognize the reader’s opinion for the listed 25 statements covering several
issues and dimensions of benefits of E-Banking. Five factors were extracted which are
associated with the readers opinion about the E-Banking benefits and related statements.
Analysis of respondent’s opinion for several benefits of E-Banking and its related
services with special consideration with overall satisfaction of respondents for these
benefits T-Test was performed to test the hypotheses 9. Hypothesis was formulated to
examine that some time presentations of benefits are very high which may influence the
user opinion for them but after using the services respondents could better show that
whether they are overall satisfied with the E-Banking service related benefits or not.
From the observation of Table 4.42 we could reject null hypothesis H o9 and accept the
alternate hypothesis H19.
59
For analyzing the respondent’s opinion for the issues that affects both positively and
negatively to a user to adopt the E-Banking service channel for his banking activities.
Question number 18 of the questionnaire was administered with multiple negative and
positive factors which directly or indirectly affects the adoption of E-Banking services as
a channel of banking by users. There are 15 negative factors and 9 positive factors are
covered in the question. KMO and principal component factor analysis was performed
for analyzing the issues. Bartlett’s Test of Sphericity value of significance was less
than .05 shows which show significance of the negative factor statements means all the
negative factors are very significant. Four factors were extracted form the observation.
For analyzing the positive factors which may affects the user to adopt the E-Banking was
categorized into three constructs that are convenience characteristics, Quality
Characteristics and Competitive Characteristics. Pearson correlation was performed to
investigate the correlation between the constructs where relationships between
Convenience and Quality was moderate in strength and found significant and remaining
relationships Convenience and Competitive, Quality and Competitive were found strong
in relationship and significant both.
So we could better conclude that E-Banking service had improved quality of Banking
services which significantly improving the customer satisfaction, customer base, banks
benefits and many more. It was also observed that customers are deriving several benefits
from the E-Banking over their traditional way of banking. Several negative and positive
factors significantly affecting the adoption but banks should work to eliminate the
negative issues.
6.5 CONCLUSIONS
60
The research findings revealed that all the hospitals studied practiced Corporate Social
Responsibility. However, there were disparities and degrees of how the hospitals
practiced Corporate Social Responsibility in terms of the specific activities as well as the
budgetary allocation to the various activities.
Corporate Social Responsibility activities which were practiced by all the hospitals
includes free drugs, free guidance and counseling for patients with special conditions e.g.
cancer and HIV/AIDS and free medical treatment for victims of floods and other
calamities. Other activities practiced by majority of the hospitals include free medical
check-up, sensitization of the public on certain diseases, and donations to victims of
floods and other calamities. On the other hand activities which were not practiced at all
by majority of the hospitals were sponsorship of needy students in schools and colleges,
provision of water to drought stricken areas, sponsorship of meetings / workshops that
promote human rights, construction of schools or resources centers and donation of
computers to schools.
From the above analysis, therefore, we can conclude that Corporate Social Responsibility
activities as practiced by private Hospitals were skewed towards healthcare promotion as
opposed to addressing other issues in the Indian society, for instance environmental,
poverty eradication and promotion of culture and sports.
Data analysis showed that majority of the hospitals in this study strongly agreed that
hospitals engaging in Corporate Social Responsibility activities derived many benefits.
Clearly these lead to the conclusion that hospitals which practiced Corporate Social
Responsibility derive many benefits from the society as opposed to those which didn’t.
Results Expected
61
1. IT sector has a higher retention rate as compared to the
Insurance sector
2. IT sector have more rewards to offer than Insurance industry
hence has a higher retention rate.
3. Female employees have higher retention rate
4. Female employees have rated supervisor support as the most
important reward
5. Employees at higher level are more retainable than the
executive level
6. Most people have answered ‘Can’t say’ to question no 14 of part
A(‘The offer of a bit more money with another employer would
not seriously make me think of changing my job’)
7. Following rewards are rated as most important one(In order of
their importance)
a. Recognition
b. Career advancement/opportunity
c. Supervisor Support
d. Work Flexibility
8. Tangible things like free food, gifts, laptop, mobile, loan
assistance, Medical Insurance, Gym membership, networking
with schools, outdoor trips, are not important.
9. Most Sr.Managers have rated recognition as very important
10. Most Executives have rated growth/promotion
opportunities as important/very important
11. Very few employees from Insurance sector have agreed on
the statement’ I love working for this company’
62
Male Female Correlation (Female are more retaining)
t-test
63

Data Analysis and Interpretation of Employee Rewards Survey

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CHAPTER - 5

DATA PRESENTATION, ANALYSIS & INTERPRETATION

Table: - 5.1 List of Participating Industries

5.3 LIST OF VARIABLES AND MEASURES WHICH MAY PERSUADE

Recognition Variable 29 Publishing Good performance acts in in-house

Variable 25 Redesigning of Job Profile

The chapter has been divided into five sections.

5.4 RELIABILITY FOR DATA COLLECTED

Table 5.3: Case Processing Summary

Table 5.4: Reliability Statistics

5.5 ANALYSIS OF SECTION A OF QUESTIONNAIRE

5.5.1 DESCRIPTIVE STATISTICAL PRESENTATION OF DEMOGRAPHIC STATUS

Table 5.6: Descriptive Statistics of the Demographic Profile of Respondents from IT

The descriptive statistics of these questions are as follows:

Table 5.7: Frequency Table of Gender Class

Source: Primary Data

Source: Primary Data

Table 5.8: Frequency Table of Age of Employees

Graph 5.2: Frequency Table of Age of Employees

Source: Primary Data

Table 5.9: Frequency Table of Level of Work

Executive Supervisor Manager Senior Manager

Source: Primary Data

Table 5.10: Frequency Table of Monthly Income

Graph 5.4: Frequency of Monthly Income

Source: Primary Data

Table 5.11: Frequency Table of Duration in the existing Organization

Graph 5.5: Frequency of Duration in the existing Organization

Duration in Existing Organization

0-2 Years 2-4 Years 4-6 Years Above 6 years

Source: Primary Data

Table 5.12: Frequency Table of Total Experience

Graph 5.6: Frequency of Total Experience

0-2 Years 2-4 Years 4-6 Years Above 6 years

Source: Primary Data

5.6 ANALYSIS OF SECTION B OF QUESTIONNAIRE

5.6.1 DESCRIPTIVE STATISTICAL PRESENTATION OF DEMOGRAPHIC

I’m planning on working for In Numbers In % age

Strongly Agree Agree Neither Agree Nor Disagree Stronly Disagree

Source: Primary Data

Table 5.14: Frequency Table of work satisfaction within this company

Within this company my work In Numbers In % age

Graph 5.8: Frequency of within this company my work gives me satisfaction

Within this company my work gives me satisfaction.

Source: Primary Data

If I wanted to do another job or In Numbers In % age

If I wanted to do another job or function, I

Strongly Agree Agree Neither Agree Nor Disagree Stronly Disagree

Source: Primary Data

I see a future for myself within In Numbers In % age

Source: Primary Data

It doesn’t matter if I’m In Numbers In % age

It doesn’t matter if I’m working for this

Source: Primary Data

If it were up to me, I will In Numbers In % age

Source: Primary Data

If I could start over again, I In Numbers In % age

Source: Primary Data

If I could start over again, I would choose to work for

12.67 14.00 13.33

Source: Primary Data

If I receive an attractive job In Numbers In % age