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PROJECT REPORT ON
JOB SATISFACTION
Undertaken at
SMC Insurance Brokers Pvt. Ltd.
Submitted in partial fulfilment of the requirements
for the award of the degree of
MASTERS OF BUSINESS ADMINISTRATION
to
Guru Gobind Singh Indraprastha University, Delhi
Under the Guidance of Submi tted By
Dr. SANDEEP KUMAR CHARU GUPTA
PROFESSOR MBA-III Sem 1ST
Shift07417003912
Session 2013 - 14
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i
To Whom It May Concern
I CHARU GUPTAEnrolment No. 07417003912 from MBA-III Sem, 1ST
shift of the
Tecnia Institute of Advanced Studies, Delhi hereby declare that the Summer Training
Report (MS-201)entitled JOB SATISFACTION IN SMC INSURANCE BROKERS
PVT. LTD. is an original work and the same has not been submitted to any other
Institute for the award of any other degree. A presentation of the Summer Training
Report was made on 18th
Jul,13 and the suggestions as approved by the faculty were
duly incorporated.
Date: Signature of the Student
Certified that the Summer Training Reportsubmitted in partial fulfillment of Master of
Business Administration (MBA) to be awarded by G.G.S.I.P. University, Delhi by
CHARU GUPTAEnrolment No. 07417003912has been completed under my guidance
and is Satisfactory.
Date: Signature of the Guide
Name of the Guide:
Designation:
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ACKNOWLEDGMENT
This project work, which is my major step in the field of professionalism, has been
successfully accomplished only because of timely support of my well wisher. I would
like to pay my sincere regards and thanks to those, who directed me at every step in my
project work.
First of all, I would like to express my thanks to my college for giving me such a
wonderful opportunity to widen the horizon of my knowledge. I pay my gratitude
towards SMC Insurance Brokers Pvt. Ltd. Under the guidance of MRS. SONIA
DALAL (HR Manager)from whom I got the real experience
I extend my thanks to my supervisor for his scholarly guidance, constant supervision and
encouragement. It is due to his personal interest and initiative that the project work is
published in the present form.
CHARU GUPTA
07417003912
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CONTENTS
S No. Topic Page No.
1 Certificate i
2 Summer Training Appraisal ii
3 Acknowledgement iii
4 Executive Summary iv-v
5 Chapter 1: Introduction 1-9
6 Chapter 2: Review of Literature 10-14
7 Chapter 3: Research Methodology 15-198 Chapter 4: Data Reduction, Presentation and Analysis 20-39
9 Chapter 5: Data Interpretation 40-42
10 Chapter 6: Summary and Conclusions 43-47
11 References/ Bibliography 48-49
12 Appendices 50
- Questionnaire 51-56
- List of Tables 57
- List of Figures 58
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EXECUTIVE SUMMARY
Job Satisfaction in regards to ones feeling or state of mind regarding nature of their
work. Job can be influenced by variety of factors like quality of ones 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 job satisfaction where as negative attitude
towards job has been defined variously from time to time. In short, Job Satisfaction is a
persons attitude towards job.
Job Satisfaction is an attitude which results from balancing and summation of many
specific likes and dislikes experienced in connection with the job- their evaluation may
rest largely upon ones success or failure in the achievement of personal objective and
upon perceived combination of the job and combination towards these ends.
According to pestonjee, Job Satisfaction can be taken as a summation of employees
feelings in four important areas. These are:
1. 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 machine and tools.
2. Management Supervisory treatment, participation, rewards and punishments,praises and blames, leaves policy and favoritism.
3. Social Relations Friends and associates, neighbors, attitudes towards people incommunity, participation in social activity socialibility and caste barrier.
4. Personal AdjustmentHealth and emotionally.
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Job Satisfaction is an important indicator of how employees feel about their job and a
predictor of work behavior such as organizational citizenship, Absenteeism, Turnover
Job Satisfaction benefits the organization includes reduction in complaints and
grievances, absenteeism, turnover, and termination as well as improved punctuality and
worker morale. Job satisfaction is also linked with a healthier work force and has been
found to be a good indicator of longevity.
Job Satisfaction is not synonyms with organizational morale, which the possessions of
feeling have being adopted 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 job satisfaction is more an individual state of
mind.
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CHAPTER-1
INTRODUCTION
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1. INTRODUCTIONJob Satisfaction research is an important communication tool because it stresses that:
Employees are valued, As frontline deliverers of the brand, employees views are vital
and integral to the development of the organization. The company is listening and
employee suggestions for improvement will be considered. The company recognizes the
need for improvement.
Job Satisfaction survey is designed to measure organizational present satisfaction level
for various parameters. It also helps to analyze success of various HR activities as
satisfaction is direct result of these activities. The result of Job Satisfaction survey shows
the strong and weak areas in overall atmosphere in organization. This gives the inputs for
action plan needed for improving the satisfaction in organization. The more satisfied
employees improve the productivity resulting in higher revenues. It also helps to check
attrition and cost associated with new recruitment.
The Job Satisfaction survey is not an isolated event, but rather the beginning of a
continual improvement cycle. Job Satisfaction survey process provides one of the
quickest and actionable feedbacks.
Job Satisfaction or job satisfaction is, quite simply, how content or satisfied employees
are with their jobs. Job Satisfaction is typically measured using an Job Satisfaction
survey. These surveys address topics such as compensation, workload, perceptions of
management, flexibility, teamwork, resources, etc.
These things are all important to companies who want to keep their employees happy and
reduce turnover, but Job Satisfaction is only a part of the overall solution. In fact, for
some organizations, satisfied employees are people the organization might be better offwithout.
Job Satisfaction and employee engagement are similar concepts on the surface, and many
people use these terms interchangeably. Job Satisfaction covers the basic concerns and
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needs of employees. It is a good starting point, but it usually stops short of what really
matters.
2. OBJECTIVES OF STUDY Measure job satisfaction of the employees of SMC Insurance. To assess the general attitude of the employees towards the organization. To assess the level of commitment across process and facilities. To analyze the strengths and weakness as an organization. To study the employees perception towards the organization. To identify the factors that motivates the employees. To give suggestion for the growth and perspective of the company.
3. SCOPE OF STUDYThe study of "Job Satisfaction" helps the company to maintain standards and increase
productivity by motivating the employees. This study tells us how much the employees
are capable and their interest at work place? What are the things still to be satisfy to the
employees. Although "human resources" are the most important resources for any
organization, so to study on employees satisfaction helps to know the working
conditions and what are the things that affect them not to work properly? Always
majority of done by the machines/equipments but without any manual moments nothing
can be done. So to study on Job Satisfaction is necessary
The How and Why of Job Satisfaction Mapping:
An organization is all about customer satisfaction. Companies understand this and focus
all their energy on their service or customer experience
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However, many companies do this at the cost of employee experience. What does this
mean? Is customer satisfaction not the priority?
It is! But it is important not to lose sight of people who deliver the end product or service
to the customers the employees. These are the people that need a proper support
system. Job Satisfaction is paramount as this is what will determine the success or failure
of a company. When employees are satisfied and happy about working in an
organization, the customer is the first person to notice that.
With employees getting thin-skinned every day, it depends completely on the employer
to ensure they do not have their top talent drained away by the new competitor on the
block. In the current scenario, the decision of hopping by the employee is triggered by the
minutes of issues, such as being ticked off in a not too friendly tone or even an uneasy
office environment.
It becomes important to be aware and understand the signals that are given out by the
employees. The management will do well to catch them before it is too late and the
employee makes the decision to quit. This understanding gives the employers an edge
and gives them the time to take corrective measures if necessary, in order to prevent
talent loss. It could be that the employee is not happy with the environment or is sufferingfrom a relationship issue with a colleague or a superior. These issues need to be handled
before they get out of hand.
How do employers understand their employees? How do they know what employees
want? How do they map their satisfaction levels? There are several ways of mapping Job
Satisfaction.
Surveys:This is a traditional method that involves employees participation. Employers
create surveys that have questions on the different parameters related to the organization.
They put forth questions in such a way that every aspect of an organization is touched
and the feedback is returned in the form of an opinion given by each employee. This
helps employers understand how employees think and their satisfaction levels, and paves
the path for problem solving. These surveys can actually identify problem areas and help
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come up with solutions to solve the problems. They reveal the employee attitude on the
whole.
One-on-One Interviews:A non-conventional tool, this involves discussions with every
employee on a one-to-one basis every few months. Their thoughts are recorded and
trouble parameters identified and taken care of.
Exit Interviews: This comes into action after an employee submits his resignation
papers. The problem with exit interviews is that most employees, once they decide to
leave, are not forthright. In an attempt to keep good relations with the employer, they
usually do not tell-all as they ought to. Many of them in fact give personal reasons for
leaving and make the employer feel that all is well on the work front.
Employers who fail at HR and see high attrition rate are those that consider monetary
compensation as highly important. In spite of the fact that employees work for money,
emotional rewards go a long way at keeping the employer-employee relation strong and
have a larger impact on Job Satisfaction. Tracing and improving this satisfaction level has
to be top priority for the HR department of an organization
Job Satisfaction mapping can be the key to a better motivated and loyal workforce that
leads to better organizational output in the form of better products and services and
results in overall improvement of an organization.
If a person is not satisfied by the job he is doing, he may switch over to some other more
suitable job. In todays environment it becomes very important for organizationsto retain
their employees. The reason may be personal or professional. These reasons should be
understood by the employer and should be taken care of. The organizations are becoming
aware of these reasons and adopting many strategies for employee retention.
The basic needs other than routine tasks are to be taken care of on priority before it
becomes late by HR department.
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4. COMPANY PROFILE:SMC Group, a leading financial services provider in India is a vertically integrated
investment solutions company, with a pan-India presence. Over the Years, SMC has
expanded its domestic as well as international operations. Existing network includes
regional offices at Mumbai, Kolkata, Chennai, Bangalore, Cochin, Ahmedabad, Jaipur
and Hyderabad plus a growing network of more than 2000 offices across over 425
cities/towns in India. The company has expanded internationally, and has established
office in Dubai.
SMC has entered into a 50:50 joint venture with Sanlam Group, one of the largest listed
financial services group in South Africa for setting up wealth Management and Asset
Management business in India, Sanlam is operating in over 30 countries globally
including UK, USA, Switzerland, Luxembourg, Dublin, Australia and others.
SMC Capitals is the SEBI registered Merchant Banking division of SMC group. SMC
Insurance is one of the leading Insurance brokers for both Life and General insurance
needs of both individuals as well as corporate clients.
4.1 Companys Vision
To be a global major in providing complete investment solutions, with relentless focus on
investor care, through superior efficiency and complete transparency.
4.2 Core Values
Ethical deals: Honesty is the only policy.
Experience and trust: Over 20 years of experience has made SMC earn the trust of morethan 5, 75,000 Investors.
Expertise: Know-how and skills to provide investors an edge.
Personalized Solutions: Every investor is unique. Every solution is unique.
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4.3 Products and Services
4.3.1. Broking
Equities, Derivatives, Currency, Commodities, Online Trading, Commodities trading ininternational market through DGCX
4.3.2. Investment Banking
IPOs, Follow on offers, M and A, Private equity, Debt syndication, ESOP,
valuation, etc.
4.3.3. Distribution of Financial Products
Insurance broking for life and Non-Life products, Distribution of IPOs and Mutual Funds
(with web based capabilities) Mobilization of company fixed deposits and non
convertible debentures, Distribution of bond products- Capital gain/tax saving bonds,
Govt. of India 8% taxable bonds, etc.
4.3.4. Depository and Clearing Services
Depository Services for shares and commodities, Clearing Services in NSE (F and O,
Currency), BSE (FandO, Currency) MCX (Commodities, Currency) and DGCX.
4.3.5. Wealth Management
Wealth Advisory and Arbitrage Management for HNIs and Corporate
4.3.6. NRI and Institutional Desk
Dedicated team for NRI and Institutional Desk
4.3.7. Research
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Research support to clients through intraday SMS and E-mails, Weekly research
magazineWise Moneycovering wide range of asset classes and Wise Fund Focusa
monthly magazine on mutual funds, Regular investor education program
4.3.8. Margin Funding
Expertise in Financial short term loan facility to buy securities from Capital market
4.3.9. Insurance Brokerage
For both life and general insurance, SMC offers risk management services and a
complete range of insurance solutions through its subsidiary company SMC Insurance
Brokers Pvt. Ltd. The company holds a Direct Insurance Broker's license from InsuranceRegulatory and Development Authority (IRDA) and provides a wide array of Life
Insurance and General Insurance products under professional guidance of experts in the
field. SMC provides customized solutions to individual clients, small and medium
enterprises as well as to the leading corporate houses and institutions across the country.
Our philosophy We believe that "a transaction is for a moment but a relationship is
forever". Hence we give all transactions equal importance and strive to offer our
esteemed clientele an unmatched service. Our edge
Pan India presence with own branches in over 48 locations and 2000+ offices of groupcompanies
3000+ strong team of employees 1,00,000+ customers 1500+ man years of General Insurance experience Robust IT Infrastructure with over 1 lakh Sq. ft. office space Widest possible product range A team of passionate professionals with strong Domain knowledge and expertise Flexibility to choose product of any insurance company Quality of services Customized solutions
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4.4 Value addition for customers
Comprehensive Risk Portfolio Management including identification, measurement,assessment and handling of the risk, of which insurance is an integral part.
Designing of customized and qualitative insurance programme Offer of choices while recommending suitable insurance policies Assistance in deciding sum insured to avoid under-insurance Due to our volume of business, knowledge of market and expertise, we are able to obtain
the best possible premium rates.
Selection of Policy wording and clauses where choice is available Assistance in processing of claims to obtain fair and prompt settlement from Insurance
Companies Extensive rapport and liaison with insurance companies Outsourcing of major part of insurance function
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CHAPTER-2
REVIEW OF
LITERATURE
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Review of Literature
Different Researchers have different approaches towards defining job satisfaction Among
doctors. Some of the most commonly cited definitions on job satisfaction are analysed in
the text that follows.
(Brikend Aziri, 2011) Job satisfaction represents one of the most complex areas facing
todays managers when it comes to managing their employees. Many studies have
demonstrated an unusually large impact on the job satisfaction on the motivation of
workers, while the level of motivation has an impact on productivity, and hence also on
performance of business organizations.Unfortunately, in our region, job satisfaction has
not still received the proper attention from neither scholars nor managers of various
business organizations.
Job satisfaction is a workers sense of achievement and sucess on the job. It is generally
perceived to be directly linked to productitivty as well as to personal well-being. Job
satisfaction implies doing a job one enjoys, doing it well and being rewarded for ones
efforts. Job satisfaction further implies enthusiasm and happiness with ones work. Job
satisfaction is the key ingridient that leads to recognition, income, promotion, and the
achevement of other goals that lead to a feeling of fullfillment (Kaliski,2007).
Job satisfaction can be defined also as the extent to wich a worker is content with the
rewards he or she gets out of his ore her job,particulary in terms of intrinsic motivacion
(Statt, 2004).
The term job satisfactions refers to the attituted and feelings people have about their
work. Positive and favorable attitudes towards the job indicate job satisfaction. Negative
and unfavorable attitudes towards the job indicate job dissatisfaction (Armstrong, 2006).
Job satisfaction is the collection of feeling and beliefs that people have about their current
job. Peoples levels of degrees of job satisfaction can range from extreme satisfaction to
extreme dissatisfaction. In addition to having attitudes about their jobs as a whole. People
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also can have attitudes about various aspects of their jobs such as the kind of work they
do, their coworkers, supervisors or suborinates and their pay (George et al., 2008).
Job satisfaction is a complex and multifaceted concept wich can mean different things to
different people. Job satisfaction is usually linked with motivation, but the nature of this
relationship is not clear. Satisfaction is not the same as motivaton. Job satisfaction is
more of an attitude, an internal state. It could,for example,be associated with a personal
feeling of achievement, either quantitative or kualitative (Mullins, 2005).
We consider that job satisfaction represents a feeling that appears as a result of the
perception that the job enables the material and psychological needs (Aziri, 2008).
Job satisfaction can be considered as one of the main factors when it comes to efficiancy
and effectiveness of business organizations. In fact the new managerial paradigm wich
insists that employees should be treated and considered primarily as human beans that
have their own wants,needs,personal desires is a very good indicator for the importance
of job satisfaction in comtemporary companies. When analysing job satisfaction the logic
that a satisfied employee is a happy employee and a happy employee is a sucesful
employee.
The article identifies three major gaps between HR practice and the scientific research in
the area of employee attitudes in general and the most focal employee attitude in
particularjob satisfaction: (1) the causes of employee attitudes, (2) the results of
positive or negative job satis- faction, and (3) how to measure and influence employee
attitudes. Suggestions for practition- ers are provided on how to close the gaps in
knowledge and for evaluating implemented prac- tices. Future research will likely focus
on greater understanding of personal characteristics, such as emotion, in defining job
satisfaction and how employee attitudes influence organizational performance. 2007
Wiley Periodicals, Inc.(Lise M. Saari and Timothy A.Judge, 2007)
The importance of job satisfaction specially emerges to surface if had in mind the many
negative consequences of job disstisfaction such a lack of loyalty,increased abstenteism,
increase number of accidents etc. Spector (2007) lists three important features of job
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satisfaction. Firts, organizations should be guided by human values. Such organizations
will be oriented towards treating workers fairly and with respect. In such cases the
assesment of job satisfaction may serve as a good indicator ofemployee effectiveness.
High levels of job satisfaction may be sign of a good emotional and mental state of
employees. Second, the behaviour of workers depending on their level of job satisfaction
will affect the functioning and activities of the organization's business. From this it can be
concluded that job satisfaction will result in positive behaviour and vice versa,
dissatisfaction from the work will result in negative behaviour of employees. Third, job
satisfaction may serve as indicators of organizational activities. Through job satisfaction
evaluation different levels of satisfaction in different organizational units can be defined,
but in turn can serve as a good indication regarding in which organizational unit changes
that would boost performance should be made.
Job satisfaction reflects the characteristics of jobs, and therefore, can be used as an
indicator of job quality. Two different approaches are followed. First, using the
International Social Survey Program of 1997 we explored whether differences between
countries in job satisfaction can be explained by variables usually considered to be
related to job quality, such as working hours, wages, etc. Second, we studied the
relationship between certain objective measures of job quality and job satisfaction in a
given country, using Spain as a case study. In both cases the results do not support the
use of job satisfaction as a measure of job quality. Finally, we discuss the different
processes that could explain the coexistence of wide variations in job quality with high
overall levels of job satisfaction.
(Rafael Llorente) 2005 Elsevier Inc.
The Medical sector plays a vital role in underpinning the economic development of a
country. This study attempts to evaluate job satisfaction of employees in different
Hospitals. It focuses on the relative importance of job satisfaction factors and their
impacts on the overall job satisfaction of employees. It also investigates the impacts of
pharmaceutical type, work experience, age, and sex differences on the attitudes toward
job Satisfaction. The result shows that salary, efficiency in work, fringe supervision, and
co-worker relation are the most important factors contributing to job satisfaction. The
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overall job satisfaction of the employees in Medical sector is at the positive level. The
nature of business operation, the work culture and the level of job satisfaction have
undergone sea change for the Doctors. As a business proposition initiated huge
investment whereas majority of their stocks is going down bringing a high level of
apprehension related to job security among its employees. This research paper highlights
some of these problems and presents a picture of level of job satisfaction among
employees of Medical companies. It also identifies unique issues of job satisfaction
Among doctors. Hospitals are selected for the research because they are currently
undergoing continued expansion. In order to gain competitive advantage and adapt to the
dramatic changing environment, it is important for them to achieve management
efficiency by increasing Job Satisfaction in the organisation. Hence this research was
mainly undertaken to investigate on the significance of factors such as working
conditions, pay and promotion, job security, fairness, relationship with co-workers and
supervisors in affecting the job satisfaction. This paper presents a comprehensive
diagnosis of job satisfaction indices of Medical business.
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CHAPTER-3
RESEARCH
METHODOLOGY
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1. Research Methodology
1.1 Research can be defined to be search for knowledge or any systematic investigation to
establish facts. The primary purpose for applied research is discovering interpreting and the
development of methods and systems for the advancement of human knowledge on a wide
variety of scientific matters of our world and the universe.
1.2 Research Methodology is initiated before undertaking the research and a foundation
was laid in form of a research design, sampling, method of data collection and different
analysis technique.
Research Methodologycan be defined as:
1) The analysis of the principles of methods, rules, and postulates employed by a
discipline;
2) The systematic study of methods that are, can be, or have been applied within a
discipline or a particular procedure or set of procedures.
2. POPULATION
The main emphasis of the study was on employees working in SMC Insurance.
3. RESEARCH DESIGN
A research design is considered as the framework or plan for a study that guides as well as
helps in the data collection and analysis of data. Research can classify in one of three
categories:
Exploratory research Descriptive research Causal research
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These classifications are made according to the objective of the research. In some cases the
research will fall into one of these categories, but in other cases different phases of the
same research project will fall into different categories.
The research associated to my project is DESCRIPITIVE RESEARCH.
4. SAMPLE SIZE
An Employee-based survey was conducted in which 40 people were asked to fill the
questionnaire. I will be using statistical method for sample size determination.
5. RESEARCH INSTRUMENTS
The researcher has used a structured questionnaire as a research instrument tool which
consists of open ended questions, multiple choice questions and dichotomous questions in
order to get data. Thus, the questionnaire is the data collection instrument used in the study.
All the questions in the questionnaire are organized in such a way that elicit all the relevant
information that is needed for the study.
6. SOURCES OF INFORMATION
This project depends upon the primary as well as secondary sources which are as follows:
Primary Sources:Primary data are data gathered for a specific purpose or for a specific
research project. Primary source, (also called original source), is a term used in a number of
disciplines to describe source material that is closest to the person, information, period, or
idea being studied.
Secondary Sources:Secondary data are data that were collected for another purpose and
already exist somewhere. Inlibrary and information science,historiography and other areas
of scholarship, a secondary source is a document or recording that relates or discusses
information originally presented elsewhere. A secondary source contrasts with a primary
source,which is an original source of the information being discussed. Secondary sources
http://en.wikipedia.org/wiki/Library_and_information_sciencehttp://en.wikipedia.org/wiki/Historiographyhttp://en.wikipedia.org/wiki/Scholarshiphttp://en.wikipedia.org/wiki/Documenthttp://en.wikipedia.org/wiki/Recordinghttp://en.wikipedia.org/wiki/Informationhttp://en.wikipedia.org/wiki/Primary_sourcehttp://en.wikipedia.org/wiki/Primary_sourcehttp://en.wikipedia.org/wiki/Primary_sourcehttp://en.wikipedia.org/wiki/Primary_sourcehttp://en.wikipedia.org/wiki/Informationhttp://en.wikipedia.org/wiki/Recordinghttp://en.wikipedia.org/wiki/Documenthttp://en.wikipedia.org/wiki/Scholarshiphttp://en.wikipedia.org/wiki/Historiographyhttp://en.wikipedia.org/wiki/Library_and_information_science8/13/2019 STR SMC Insurance on Job Satisfaction MBA
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involve generalization, analysis, synthesis, interpretation, or evaluation of the original
information
Most of the data collected by the researcher is PRIMARY DATA through personal
interviews, where the researcher and the respondents operate face-to-face.
7. DATA COLLECTION TOOLS
Questionnaire: A questionnaire consists of a set of questions presented to respondents for
their answers. Because of its flexibility, the questionnaire is by far the most common
instrument used to collect primary data. Questionnaires need to be carefully developed,
tested, and debugged before they are administered on a large scale.
8. STASTICAL TOOL
The statistical tools used for analyzing the data collected are percentage method, bar
diagrams and pie chart.
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CHAPTER-4
DATA
REDUCTION,
PRESENTATIONAND
ANALYSIS
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1. How long has you worked for SMC Insurance?
Sr.no Work with SMC Insurance Value Percentage
1 Less than one year 27 27%2 One year to less than two year 10 10%
3 Two year to less than five year 23 23%
4 Five year to less than ten year 10 10%
5 Ten year or more 30 30%
Total 100 100%
Figure 1
COMMENTS:- 30% employees are working more than ten year with SMC Insurance
27% working from less than one year , 23% working from more than two year, 10% are
working from one year and 10% employees are working from more than five year with
this company.
27%
10%
23%
10%
30%
Less than one year One year to less than two year
Two year to less than five year Five year to less than ten year
Ten year or more
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2. Overall, how satisfied are you with SMC Insurance as an Employee?
S.no Satisfaction Level Value Percentage
1 Very Satisfied 24 24%
2 Satisfied 36 36%
3 Neither Satisfied nor dissatisfied 20 20%
4 Dissatisfied 17 17%
5 Very dissatisfied 3 3%
TOTAL 100 100%
Figure 2
COMMENTS:-36% employees of the company are satisfied with this company as an
employee 24% employees are very satisfied. 20% of employees are neither satisfied nor
dissatisfied, 17% of employees are dissatisfied and remaining 3% of employees are very
dissatisfied.
24%
36%
20%
17%
3%
Very Satisfied Satisfied
Neither Satisfied nor dissatisfied Dissatisfied
Very dissatisfied
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3. How satisfied are you that you understand the long-term strategy of SMC
Insurance?
S.No Satisfaction Level Value Percentage
1 Very Satisfied 34 34%
2 Satisfied 40 40%
3 Neither Satisfied nor dissatisfied 16 16%
4 Dissatisfied 8 8%
5 Very dissatisfied 2 2%
TOTAL 100 100%
Figure 3
COMMENTS: -Most of the employees (40%) are satisfied that they understand the long
term strategy of SMC Insurance, some of them (34%) very satisfied, (16%) of employees
are neither satisfied nor dissatisfied, (8%) of employees are dissatisfied and very less no
(2%) of employees are very dissatisfied.
34%
40%
16%
8%
2%
Very Satisfied Satisfied
Neither Satisfied nor dissatisfied Dissatisfied
Very dissatisfied
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4. Do you understand what Company SMC Insurance as a Company, is trying
to achieve?
S.no Understanding Level Value Percentage
1 Yes 96 96%
2 No 4 4%
TOTAL 100 100%
Figure 4
COMMENTS:- Majority of the employees (96%) of the company understand what is
companys objective and goal, less no of employee (4%) dont understand what
company SMC Insurance as a company is trying to achieve
96%
4%
Yes No
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5. Do your work give you a feeling of personal accomplishment?
(a) Yes (b) No
S.no Personal Accomplishment Value Percentage1 Yes 80 80%
2 No 20 20%
TOTAL 30 100%
Figure 5
COMMENTS:- Most of the employees (80%) work give them the feeling of personal
accomplishment , some of them (20%) dont feel personal accomplishment from their
work.
80%
20%
Yes No
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5. Do you receive any appropriate recognition for your contributions?
S.no Recognition Value Percentage
1 Yes 84 84%
2 No 16 16%
TOTAL 100 100%
Figure 6
COMMENTS:-Majority of the employees (84%) receive appropriate recognition for
their contribution, some of them (16%) did not receive any appropriate recognition.
84%
16%
Yes No
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6. How much confidence you have in the leadership of SMC Insurance?
S.no Confidence in Leadership Value Percentage
1 More than enough 63 63%
2 Enough 30 30%
3 Less than enough 7 7%
TOTAL 100 100%
Figure 7
COMMENTS:- Majority of the Employees (63%) of the company have more than
enough and some of them (30%) enough confidence in the leadership of this company,
very less no of employee (7%) has less than enough confidence in the leadership of SMC
Insurance.
63%
30%
7%
More than enough Enough Less than enough
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8. Your role at SMC Insurance?
(a)Do you have enough authority to make decisions you need to make?
S.no Authority to make decisions Value Percentage
1 Yes 84 84%
2 No 16 16%
TOTAL 30 100%
Figure 8
COMMENTS: - In SMC Insurance majority of the employees (84%) have enough
authority to make decisions what they need to make, some of them (16%) dont have
enough authority.
84%
16%
Yes No
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(b) How satisfied are you with the type of work that you do?
S.no Satisfaction Level Value Percentage
1 Very Satisfied 26 26%
2 Satisfied 40 40%
3 Neither Satisfied nor dissatisfied 18 18%
4 Dissatisfied 13 13%
5 Very dissatisfied 3 3%
TOTAL 100 100%
Figure 9
COMMENTS:- Majority of the employees (40%) are satisfied with their work what
they do, some of them (26%) are very satisfied, (18%) of employees are neither satisfied
nor dissatisfied, (13%) of employees are dissatisfied and (3%) very less no of employees
are very dissatisfied.
26%
40%
18%
13%
3%
Very Satisfied Satisfied
Neither Satisfied nor dissatisfied Dissatisfied
Very dissatisfied
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9. Did SMC Insurance provide as much initial training as you needed?
S.no Initial Training Value Percentage1 Yes 64 64%
2 No 36 36%
TOTAL 100 100%
Figure 10
COMMENTS: - Majority of the employees (64%) said that SMC Insurance provided
initial training to as they needed
64%
36%
Yes No
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10. Pay and Benefits-Is your salary fair for your responsibilities?
S.no Salary Value Percentage
1 Yes 74 74%
2 No 26 26%
TOTAL 100 100%
Figure 11
COMMENTS:- Majority of the employees (74%) salary is fair for their responsibilities
but some of the employees (26%) salary is not fair for their responsibilities.
74%
26%
Yes No
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11. What types of incentives motivates you more?
S.No. Answer No. of Respondents Percentage1 Financial 6 6%
2 Non-financial 10 10%
3 Both 80 80%
4 Neutral 4 4%
Total 100 100%
Figure 12
COMMENTS:- Reference with above table, out of 100 respondents 80% agree that the
rewards or incentive should be financial as well as non-financial, both. and 10% are
neutral to this question.
6%10%
80%
4%
Financial Non-financial Both Neutral
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12. I am satisfied with the salary I draw.
S.No. Answer No. of Respondents Percentage1 Strongly agree 5 5%
2 Agree 20 20%
3 Neutral 45 45%
4 Disagree 25 25%
5 Strongly disagree 5 5%
Total 100 100%
Figure 13
COMMENTS:- References with above table, out of 100 respondents 45% are neutral,
20% are happy with their salary and 25% are unsatisfied.
5%20%
45%
25%
5%
Strongly agree Agree Neutral Disagree Strongly disagree
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13. I am satisfied with the lunch breaks, rest breaks.
S.No. Answer No. of Respondents PercentageA Strongly agree 8 8%
B Agree 70 70%
C Neutral 5 5%
D Disagree 15 15%
E Strongly disagree 2 2%
Total 100 100%
Figure 14
COMMENTS:- References with above table, out of 100 respondents 70% agree that
they are satisfied with the lunch breaks and rest breaks. 15% of employees disagree with
the breaks.
8%
70%
5% 15%
2%
Strongly agree Agree Neutral Disagree Strongly disagree
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14. I am satisfied with the administration in my office.
S.No. Answer No. of Respondents Percentage1 Strongly agree 10 10%
2 Agree 60 60%
3 Neutral 20 20%
4 Disagree 5 5%
5 Strongly disagree 5 5%
Total 100 100%
Figure 15
COMMENTS:- References with above table, out of 100 respondents 60% feel that the
administration is good in office and 20% are neutral to this question. and 10% people are
not satisfied with the administration.
10%
60%
20%
5%
5%
Strongly agree Agree Neutral Disagree Strongly disagree
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15. The rest rooms / washrooms are clean, hygienic and well ventilated.
S.No. Answer No. of Respondents Percentage1 Strongly agree 18 18%
2 Agree 60 60%
3 Neutral 12 12%
4 Disagree 7 7%
5 Strongly disagree 3 3%
Total 100 100%
Figure 16
COMMENTS:- Reference with above table, out of 100 respondents 60% are satisfied
with hygienic and cleanness of washrooms/rest rooms and 18% employee showing no
response, neither they are satisfied nor they are unsatisfied. and 7% is disagreeing to the
washroom hygienic condition.
18%
60%
12%7%
3%
Strongly agree Agree Neutral Disagree Strongly disagree
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16. I am satisfied with my work.
Variables Answer No. of Respondents Percentage1 Strongly agree 30 30%
2 Agree 40 40%
3 Neutral 20 20%
4 Disagree 7 7%
5 Strongly disagree 3 3%
Total 100 100%
Figure 17
COMMENTS:- References with above table, out of 100 respondents 40% are satisfied
with their work, 30% are very satisfied, 20% are neutral, 7% are not satisfied with their
work.
30%
40%
20%
7%
3%
Strongly agree Agree Neutral Disagree Strongly disagree
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SUGGETIONS
o Facilities :-- Emergency panel
- Medical facility
o Technical trainingo Salary should be increasedo Company should provide some money and time to spend sociallyo Company should have some tie-up with some good school of NCR for education
of children
o Company should arrange one trip in a year for enjoyment of employees
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AREAS TO IMPROVE
o Medical Facility should be available in the company area.o Schooling facility for the employees children.o Time to time Training should be provided by the company.o Compensation
o Salaryo Benefits
o Opportunities for professional developmento Recognition
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5. Data Interpretation
30% employees are working more than ten year with SMC insurance 27% working from
less than one year , 23% working from more than two year, 10% are working from one
year and 10% employees are working from more than five year with this company.
36% employees of the company are satisfied with this company as an employee 24%
employees are very satisfied. 20% of employees are neither satisfied nor dissatisfied,
17% of employees are dissatisfied and remaining 3% of employees are very dissatisfied.
Most of the employees (40%) are satisfied that they understand the long term strategy of
SMC Insurance, some of them (34%) very satisfied, (16%) of employees are neither
satisfied nor dissatisfied, (8%) of employees are dissatisfied and very less no (2%) of
employees are very dissatisfied.
Majority of the employees (96%) of the company understand what is companys
objective and goal, less no of employee (4%) dont understand what company SMC
Insurance as a company is trying to achieve
Most of the employees (80%) work give them the feeling of personal accomplishment,
some of them (20%) dont feel personal accomplishment from their work.
Majority of the employees (84%) receive appropriate recognition for their contribution,
some of them (16%) did not receive any appropriate recognition.
Majority of the Employees (63%) of the company have more than enough and some of
them (30%) enough confidence in the leadership of this company, very less no of
employee (7%) has less than enough confidence in the leadership of SMC Insurance.
In SMC Insurance majority of the employees (84%) have enough authority to make
decisions what they need to make, some of them (16%) dont have enough authority.
Majority of the employees (40%) are satisfied with their work what they do, some of
them (26%) are very satisfied, (18%) of employees are neither satisfied nor dissatisfied,
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(13%) of employees are dissatisfied and (3%) very less no of employees are very
dissatisfied.
Majority of the employees (84%) said that SMC Insurance provided initial training to as
they needed
Majority of the employees (74%) salary is fair for their responsibilities but some of the
employees (26%) salary is not fair for their responsibilities.
Reference with above table, out of 100 respondents 80% agree that the rewards or
incentive should be financial as well as non-financial, both. and 10% are neutral to this
question.
References with above table, out of 100 respondents 45% are neutral, 20% are happy
with their salary and 25% are unsatisfied.
References with above table, out of 100 respondents 70% agree that they are satisfied
with the lunch breaks and rest breaks. 15% of employees disagree with the breaks.
References with above table, out of 100 respondents 60% feel that the administration is
good in office and 20% are neutral to this question. and 10% people are not satisfied withthe administration.
Reference with above table, out of 100 respondents 60% are satisfied with hygienic and
cleanness of washrooms/rest rooms and 18% employee showing no response, neither they
are satisfied nor they are unsatisfied. and 7% is disagreeing to the washroom hygienic
condition.
References with above table, out of 100 respondents 40% are satisfied with their work,30% are very satisfied, 20% are neutral, 7% are not satisfied with their work.
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CHAPTER-6
SUMMARY
&
CONCLUSIONS
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6. Summary And Conclusions
6.1 Results of the Study:
An employee's job satisfaction depends as much on the positive mental, spiritual,
physical, and emotional resources the employee brings to the workplace, according to
data gathered from 30 working employees on a three-year study of personal energy
management and work-life balance.
Human Performance Institute describes following ways employers can create a satisfying
work environment:
1. There is a need of attention to find out that why employees are satisfiedwith their jobs.
2. About 81% employees believe that nature of their present job givessatisfaction to them.
3. Most of the employees believe that one-day is sufficient to do the workallotted to them.
4. 74% employees believe that job satisfaction provides the careeropportunities.
5. As far as job security is concerned. 83 % employees feel secured.6. There is a positive response from the employees regarding leave policies.7. Most of the employees believe that their opinions are not taken while
important decisions are made.
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8. It has been viewed that most employees agreed that job satisfactioninfluence the work behavior.
6.2 Limitations:
The following are the limitations that are observed in the study.
The survey is subjected to the bias and prejudius of the respondents. Hence, 100%accuracy cannot be assured.
The researcher was carried out in a short span of time, where in the researchercould not widen the study.
The study could not be generalized due to the fact that researcher adaptedpersonal interview method.
6.3 Suggestions, Scope for further Study and Conclusion:
6.3.1Suggestions
Given below are the various suggestions from the researchers point of view which he
feels must be implemented in the company on order to enable it to work more effectively
and overcome the various obstacles .which the employees are facing regarding job
satisfaction.
1. Surprise inspections should be done in order to avoid ghost punching.2. Use of workers participation in management.3. Company in the minds of the employees so as to improve the interpersonal
relations in the organization4. Employees should be induced top improve their productivity by the introduction
of various incentive schemes.
5. Incentives should be directly linked with profits so as to improve the productivityof the employees.
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6. Employees should be given job security to create the satisfaction in their mindstowards their respective jobs.
7. Job satisfaction is the end feeling of a person after performing a task so as topersons job must fulfilled his dominant needs and is consistent with his
expectation and values, the job will be satisfying .
8. It is suggested the rewards and punishments should be equitable with otheremployees doing similar work.
9. The supervisor must be able to find out that the employees have received amountsto what he perceived.
10. It is recommended to put suggestion boxes in every department in which the staffconcerned can draw in there suggestion and possible solution to overcome the
problems faced by them.
6.3.2 Conclusion
1. Every project at the end of it has some conclusion derived from the study of theproject.
2. Job Satisfaction has some shortcomings, which can be overcome by taking intoaccount the suggestions that are given in the project.
3. Job Satisfaction plays a very vital role in the success of the organization. So,every possible step should be taken for the satisfaction of the employees
regarding their jobs.
4. If the employees would be more satisfied with their jobs, the productivity wouldbe increased satisfied employees are more committed, more hard working and
more productive In SMC Insurance, most employees are found to be satisfied
with their jobs.
5. The most common way of measurement is the use of rating scales whereemployees report their reactions to their jobs.
6. In view of the fact that the organization i.e. Indian is using Job Satisfactionprocess for its different categories of workforce, reliance is to be laid mostly on
the secondary data available with the organization. Since the project is an
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attempt to study about the impact of job satisfaction and suggest changes in the
system, the employees are exposed to a questionnaire to elicit their view.
7. A consistently high level of employee motivation and commitment are the keyfactors in developing a positive working environment for any business.
8. By quantifying and analyzing employee attitudes and opinions, enterprises canidentify problem areas and develop solutions that create a supportive work
environment and foster a motivated, loyal workforce.
9. Job Satisfaction Surveys help to develop individual goals and career potential.With more insight into employee opinions and attitudes, management can
establish effective professional development initiatives.
10. Research on the relationship between job satisfaction and accidents generallyshows that the satisfied employees cause fewer accidents. It is also reveal that low
absentee employees are more satisfied with their jobs.
11. The higher the level of the job in organizational hierarchy , the greater thesatisfaction of the individual. This is because positions at higher levels are
generally batter paid, more challenging and provide greater freedom of operation.
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REFERENCES/
BIBLIOGRAPHY
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APPENDICES
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QUESTIONNAIRE
SMC Insurance Job Satisfaction Survey
Name
Age 21 to 34 35 to 44 45 to 54
55 or older
Sex Male Female
1. How long has you worked for SMC Insurance?
(a) Less than one year
(b) One year to less than two years
(d) Two years to less than five years
(e) Five years to less than ten years
(f) Ten years or more
2. Overall, how satisfied are you with SMC Insurance as an Employee?
(a) Very Satisfied
(b) Satisfied
(c) Neither Satisfied nor dissatisfied
(d) Dissatisfied
(e) Very Dissatisfied
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3. How satisfied are you that you understand the long-term strategy of SMC
Insurance?
(a) Very Satisfied
(b) Satisfied
(c) Neither Satisfied nor dissatisfied
(d) Dissatisfied
(e) Very Dissatisfied
4. Do you understand what Company SMC Insurance as a Company, is trying
to achieve?
(a) Yes
(b) No
5. Do your work gives you a feeling of personal Accomplishment?
(a) Yes
(b) No
6. Do you receive any appropriate recognition for your contributions?
(a) Yes
(b) No
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7. How much confidence you have in the leadership of SMC Insurance?
(a) More than Enough
(b) Enough
(c) Less than Enough
8. Your role at SMC Insurance.
(a) Do you have enough authority to make decisions you need to Make?
(a) Yes
(b) No
(b) How satisfied are you with the type of work that you do?
(a) Very Satisfied
(b) Satisfied
(c) Neither Satisfied nor dissatisfied
(d) Dissatisfied
(e) Very Dissatisfied
9. Did SMC Insurance provide as much initial training as you needed?
(a) Yes
(b) No
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10. Pay and Benefits
(a) Is your salary fair for your responsibilities?
(a) Yes
(b) No
(b) Are there any benefits you would like added to SMC Insurance benefits
package?
(a) Yes, What would you like added?
(b) No
11. What types of incentives motivates you more?
(a) Financial Objectives
(b) Non Financial Objectives
(c) Both
12. I am satisfied with the salary I draw.
(a) Strongly Agree
(b) Agree
(c) Neutral
(d) Disagree
(e) Strongly Disagree
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13. I am satisfied with the lunch breaks, rest breaks.
(a) Strongly Agree
(b) Agree
(c) Neutral
(d) Disagree
(e) Strongly Disagree
14. I am satisfied with the administration in my office.
(a) Strongly Agree
(b) Agree
(c) Neutral
(d) Disagree
(e) Strongly Disagree
15. The rest rooms / washrooms are clean, hygienic and well ventilated.
(a) Strongly Agree
(b) Agree
(c) Neutral
(d) Disagree
(e) Strongly Disagree
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16. I am satisfied with my work.
(a) Strongly Agree
(b) Agree
(c) Neutral
(d) Disagree
(e) Strongly Disagree
17. What can SMC Insurance Educationdo to increase your satisfaction as an
employee?
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LIST OF TABLES
Table No Title Page No
1 Work with SMC Insurance 21
2 Satisfaction level of SMC employees 22
3 Satisfaction level of long term strategy 23
4 Understanding level 24
5 Personal accomplishment 25
6 Recognition 26
7 Confidence in leadership 278 Authority to make decisions 28
9 Satisfied with work 29
10 Initial training 30
11 Salary 31
12 Incentives 32
13 Satisfied with salary 33
14 Lunch breaks 34
15 Administration 35
16 Rest rooms 36
17 Satisfied with work 37
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END OF REPORT