employee engagement report
TRANSCRIPT
SUMMER PROJECT REPORT
ON
LEVEL OF EMPLOYEE ENGAGEMENT
FOR
DENTSU INDIA
Dentsu Media and communication Ltd, Bangalore.
Submitted in partial fulfillment of the requirement for the award of Degree of
Master of Business Administration
By
PRAVEENA K S
Roll No.: 27099
BHARATHIDASAN INSTITUTE OF MANAGEMENT
(School of Excellence of Bharathidasan University)
TIRUCHIRAPALLI 620014
1
DECLARATION
I hereby declare that the project report titled “Level of Employee Engagement”,
submitted in the partial fulfillment of the requirement for the award of degree of MBA, is
my original work.
This has not been submitted in part or full towards any other degree or diploma.
DINA MICHELE (27069)
MBA: 2010 - 2012
BHARATHIDASAN INSTITUTE OF MANAGEMENT
(SCHOOL OF EXCELLENCE OF BHARATHIDASAN UNIVERSITY)
TIRUCHIRAPPALLI
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ACKNOWLEDGMENT
First and foremost I would like to thank my parents for their constant support in all
my endeavors.
I would like to express my sincere thanks and gratitude to Mr.Vimal
Parthasarathy, Director, Dentsu Media and communications Ltd. – Bangalore, for
providing me an opportunity to pursue this project in their organization and for his
constant motivation, guidance and support throughout the project.
I am also grateful to Mr. Kishore Singh, Media Head, for his valuable help and
guidance during the initial stages of my project.
I would like to thank the Director and all the Faculty members of BIM, Trichy,
for equipping me with necessary knowledge to carry out my project.
PLACE: Bangalore PRAVEENA K S
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SYNOPSIS
Bajaj Allianz Life Insurance Company Ltd. is a union between Allianz SE, one of
the largest Insurance Company and Bajaj Finserv. Allianz SE is a leading insurance
conglomerate globally having over 119 years of financial experience and Bajaj FinServ is
one of the top financial services businesses in India.
Since the market share of LIC has increased but that of private players has
decreased, the tough challenge faced by private players in life insurance is to keep
expense under tight control and to increase productivity (number of policies per agent).
As employee productivity is connected with employee engagement, creating an
environment that encourages employee engagement is considered to be essential in the
effective management of human capital.
The proposed method is to categorize sales managers in Bajaj Allianz Life
Insurance Company Ltd. into three levels – engaged, not engaged and actively
disengaged and then measure engagement levels through a questionnaire that was
designed to measure engagement on three dimensions – motivation, satisfaction and
effectiveness. Motivation is measured through the satisfaction of organizational needs –
BASIC, INTERMEDIATE and ADVANCED. Satisfaction is measured through the
drivers - internal communication and planning, the employee’s role in the company,
training and career development opportunities, pay and benefits and the employee’s
relation with his/ her peers and superiors. Effectiveness is measured on three levels –
one’s own goals, manager’s expectations and organization’s expectations.
On analysis, it was found that a majority of the sales managers fell under the “not
engaged” category. Sales managers felt that they did not have the necessary brochures to
sell policies to customers and that incentives were sometimes not given. They also felt
that the company did not take any measures to help in work/life balance and that the
training provided was not satisfactory. Details of the analysis have been provided in the
Annexure and suggestions to improve on these dimensions have been proposed.
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TABLE OF CONTENTS
DECLARATION
ACKNOWLEDGEMENT
SYNOPSIS
Page No.
1. Introduction
1.1. Life Insurance Industry
6
1.2. About Bajaj Allianz
7
1.3. Bajaj Group
9
2. Objective of the Project
10
3. Literature review
3.1. Employee Engagement
11
3.2. Categories of Employee engagement
11
3.3. Importance of Employee engagement
12
3.4. Factors influencing Employee engagement
13
4. Measuring employee engagement at Bajaj Allianz
4.1. Proposed Method
5
4.1.1. Motivation
15
4.1.2. Satisfaction
16
4.1.3. Effectiveness
17
5. Data analysis and Results
5.1. Methodology
19
5.2. Analysis
19
6. Recommendations and Conclusion23
Annexure 24
Glossary 30
Bibliography31
CHAPTER 1
INTRODUCTION
1.1. MEDIA INDUSTRY:
Life Insurance industry in India has seen rapid growth from the opening up of the
sector in 2000-01 till 2009 –10. Total premiums of the industry, which were Rs 500 Bn in
2001- 02, more than quadrupled to Rs 2,218 Bn in 2008-09, which is a compounded
annual growth rate in total premium of 18%. The number of policies sold by life insurers
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in 2009-10 was over 53 Mn as against 25 Mn in 2001-02. Clearly, the life insurance
industry is one of the shining stars of the Indian economic engine. From a sector
dominated by LIC it has at present 22 companies in the private sector. While penetration
levels at 4% of GDP have increased significantly, the per capita spend on insurance is
quite low as compared to other countries and also less than half that of China (USD
105.4). Life insurance funds accounted for 19.5% of the total household savings as
compared to 15.1% in 2004-05.
The life insurance industry saw a sharp recovery by recording a growth of 25.5%
in the year 2009-10, overcoming a decline of 6.3% in the previous fiscal. The 23 life
insurers have mobilized a first year premium of Rs 1092.9 Bn in 2009-10 compared to Rs
871.1 Bn in the previous year. The market share of LIC has increased from 60.8% to
64.9% while that of the private players has been reduced from 39.2% to 35.1%. However,
it should be noted that growth is coming in single premium & group products which offer
lesser commission for distributors and has lesser expense allowance for the company.
Going forward the challenge is to keep expense under tight control & increasing
productivity (number of polices per agent) so that distributors can work even on low
commission.
1.2. ABOUT DENTSU MEDIA AND COMMUNICATIONS
LTD:
Corporate philosophy of DENTSU group:
Three sources of strength,driving our innovation,bringing positive change to people and society.
Ideas that reach beyond the imaginable.Technology that crosses the bounds of possibilities.Entrepreneurship that surpasses the expected.
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Dentsu Incorporated (株式会社電通 Kabushiki-gaisha Dentsū? ) (TYO : 4324 ) is one of the largest advertising agency brands in the world. Its headquarters are located in the Dentsu Building in the Shiodome district of Minato, Tokyo .[2]
Dentsu's sales are more than double its nearest competitor, Hakuhodo or ADK , in the Japanese market. Dentsu's success and dominance in Japan stems from Dentsu's origins as a media representative during the early part of the 20th Century. Dentsu produced the first newspaper advertisements as well as the first television commercials in Japan. Dentsu now offers a range of services, all in-house, from traditional marketing and creative, to specialty disciplines such as sports marketing , entertainment rights, PR, digital contents, and a growing range of communications services.
OFFICE NETWORK:
Dentsu's Global Network spans the entire world, from the Americas, Europe and Russia, Asia and
Oceania, China and Taiwan, India and the Middle East, all the way to North Africa.
Dentsu works actively to strengthen ties with overseas companies that can provide specialized
high-quality services to our clients. Moreover, in October 2010 Dentsu created a new organization
called "Dentsu Network West" to further accelerate our global strategy, as well as support and
reinforce our U.S. and European businesses. In these and many other ways Dentsu is continually
striving to improve client services and build a more competitive global network.
BUSINESS DOMAINS AND STRENGTHS
The Dentsu Group, with the communications domain at its core, is engaged in a wide range of business activities.
From management and operating solutions to the implementation of marketing and communications strategies for
advertisers as well as media and content holders, the Group has earned a top-class reputation. Its presence in the
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advertising communications industry is unrivalled thanks to the level of quality in each service category as well as
what Dentsu calls “Integrated Communication Design,” which combines individual services into a tangible format.
DIVERSE PORTFOLIOS:
The Dentsu Group's reach extends beyond mass media advertising services such as media planning, creative
execution and various marketing and sales promotional activities. As importance is being placed on the area of
social communication in the world today, together with its clients, the Group is actively involved in communication
activities that serve societal needs as well as those that encourage consumption. Furthermore, the Group
constantly promotes the establishment of new business domains through strong relationships with content holders
in the business of sports, where events such as the Olympic Games—both summer and winter—and the FIFA
World Cup™ attract widespread interest, and in the entertainment business, particularly feature films.
Integrated Solutions Capabilities
The fragmentation of consumer lifestyles, a changing sense of values and progress in digitization have all resulted
in diversification in the modes of communication between companies and consumers as well as a considerable shift in the needs of clients. In response, the Dentsu Group provides integrated solution services drawing on a deep reservoir of accumulated marketing-related expertise and solid relationships with leading media companies. Today, however, the emphasis is on the search for innovation in a new era of communication. Consequently, the Group will strive to reinforce its integrated solution capabilities. Starting with the advertising and promotional domains, the Group aims to broaden the scope of its solutions to include upstream domains, such as product development and management and operating strategies.
Considering the multi lingual diversity in the country and in order to effectively
reach and communicate with the customers, the company has initiated the process of
communicating with the customer his/her preferred language. The welcome letter, issued
along with the policy bond is printed in English as well as in 11 major regional
languages.
Bajaj Allianz has a dedicated cell for customer service which is titled “Customer
Focus Unit” (CFU). An E-servicing module, whereby customer requests pertaining to
policy servicing can be done electronically has been initiated. The company has also
developed an automated Interactive Voice Response (IVR) for the benefit of customers
for routine policy servicing matters. In order to provide better service to the customers
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across the breadth of the country, IVR options have been made available in various
vernacular languages.
CORPORATE COMMUNICATION:
The company was ranked 26th as per the ET's Most Trusted Service Brand Survey
for the year 2009-10 and moved six places from the previous year. In association with
IBN 7 network, it sponsored the “Super Heroes” a Disability award to recognize and help
make a difference to the lives of 18 physically challenged individuals nominated from
across the country.
Bajaj Allianz Life was involved in a couple of Hindi movie associations in a
unique way which fitted with the company’s brand proposition viz Love Aaj Kal and Paa,
through which it promoted its new ad campaign which was interspersed with the film
promotions. A 360 degree campaign for tax saving plans and the unique concept of
Guarantee Express with synchronized activities in print, television, radio and road shows
at the local offices was also accentuated.
In addition to this Your Company sponsored the Annual Boat Race in Kerala,
India-South Africa cricket series, election campaign in Network 18 channels and Budget
campaign in Times NOW and ET NOW network channels which yielded good visibility
at optimum cost.
1.3. BAJAJ GROUP:
The financial services and wind energy businesses were transferred to Bajaj
FinServ Limited (BFS) as part of the recently concluded demerger of Bajaj Auto Limited,
approved by the Hon. High Court of Judicature at Bombay by its order dated December
18, 2007. The demerger is effective from the Appointed Date i.e. closing hours of
business on March 31, 2007.
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Bajaj FinServ strives to be one of the top financial services businesses in India
focused on delivering superior customer experience through competitive products and
class leading services while providing consistent and superior returns to our shareholders
and maintaining the high levels of integrity of Bajaj.
The company is currently engaged in life insurance; general insurance and
consumer finance businesses and has plans to expand its business by offering a wide
array of financial products and services in India. Apart from financial services, BFS is
also active in wind-energy generation.
CHAPTER 2
OBJECTIVE OF THE PROJECT
In order for any workforce to be productive, it is essential that they are engaged. In
order to achieve high performance levels, an organization has to ensure that its employees
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are engaged. Engaged employees work with passion and feel a strong connection to their
company. Engaged employees are more productive, more profitable, more customer-
focused, safer and less likely to leave their employer.
As employee productivity is clearly connected with employee engagement,
creating an environment that encourages employee engagement is considered to be
essential in the effective management of human capital.
Since the life insurance industry has the tough challenge to keep expense under
tight control and to increase productivity (number of polices per agent), sales managers
succumb to a lot of pressure to achieve their sales targets. The objective of this project is
To analyze the levels of engagement of sales managers in Tamil Nadu
To categorize them into three levels – engaged, not engaged and actively
disengaged
To find out the factors which cause employees to feel disengaged
To suggest measures to improve employee engagement at Bajaj Allianz Life
Insurance
CHAPTER 3
LITERATURE REVIEW
3.1. EMPLOYEE ENGAGEMENT:
12
Employee engagement is the level of commitment and involvement an employee
has towards their organization and its values. An engaged employee is aware of business
context, and works with colleagues to improve performance within the job for the benefit
of the organization. Employee Engagement can be defined as the measureable degree of
an employee's positive or negative emotional attachment to their job, colleagues and
organization which profoundly influences their willingness to learn & perform at work.
3.2. CATEGORIES OF EMPLOYEE ENGAGEMENT:
Employees can be categorized to fall under any one of the three levels of
engagement – engaged, not engaged and actively disengaged.
ENGAGED
"Engaged" employees are builders. They want to know the desired expectations
for their role so that they can meet and exceed them. They are naturally curious about
their company and their place in it. They perform at consistently high levels. They want
to use their talents and strengths at work every day. They work with passion and they
drive innovation and move their organization forward.
NOT ENGAGED
“Not-engaged” employees tend to concentrate on tasks rather than the goals and
outcomes they are expected to accomplish. They want to be told what to do just so they
can do it and say they have finished. They focus on accomplishing tasks vs. achieving an
outcome. Employees who are not-engaged tend to feel their contributions are being
overlooked, and their potential is not being tapped. They often feel this way because they
don't have productive relationships with their managers or with their coworkers.
ACTIVELY DISENGAGED
"Actively Disengaged" employees are consistently against virtually everything.
They're not just unhappy at work; they're busy acting out their unhappiness. They sow
seeds of negativity at every opportunity. Every day, actively disengaged workers
undermine what their engaged coworkers accomplish. As workers increasingly rely on
13
each other to generate products and services, the problems and tensions that are fostered
by actively disengaged workers can cause great damage to an organization's functioning.
3.3. IMPORTANCE OF EMPLOYEE ENGAGEMENT:
Engagement is important for managers to cultivate given that disengagement or
alienation is central to the problem of workers’ lack of commitment and motivation.
Meaningless work is often associated with apathy and detachment from ones works. In
such conditions, individuals are thought to be estranged from their selves.
An organization’s capacity to manage employee engagement is closely related to
its ability to achieve high performance levels and superior business results. Some of the
advantages of having an engaged workforce are:
Engaged employees will stay with the company, be an advocate of the company
products and services, and contribute to the bottom line of the business success
They will normally perform better and are Self-Motivated
There is a significant link between employee engagement and profitability
They form an emotional connection with the company. This impacts their attitude
towards the company’s clients, and thereby improves customer satisfaction and
service levels
It builds passion, commitment and alignment with the organization’s strategies
and goals
Increases employees’ trust in the organization
Creates a sense of loyalty in a competitive environment
Provides a high-energy working environment
Boosts business growth
Makes the employees effective brand ambassadors for the company
A highly engaged employee will consistently deliver beyond expectations.
3.4. FACTORS INFLUENCING EMPLOYEE ENGAGEMENT:
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WORKPLACE CULTURE
Workplace culture sets the tone for employee engagement. Is the culture
considered family friendly, for example, or is the organization so focused on getting
ahead that taking care of its employees is left out of the strategy?
ORGANIZATIONAL COMMUNICATION
Clear, consistent and honest communication is an important management tool for
employee engagement. There should be both upward and downward communication with
the use of appropriate communication channels in the organization. If the employee is
given a say in the decision making and has the right to be heard by his boss than the
engagement levels are likely to be high.
LEADERSHIP
Leadership is a key building block for improving engagement. Leadership emerges
as a requirement in terms of clarity of vision, the trust in senior management, leadership
for empowerment, through the interviews and focus groups.
COMPANY REPUTATION
How much employees are prepared to endorse the products and services which
their company provides its customers depends largely on their perceptions of the quality
of those goods and services. High levels of employee engagement are inextricably linked
with high levels of customer engagement.
ACCESS TO TRAINING AND CAREER OPPORTUNITIES
Organizations with high levels of engagement provide employees with
opportunities to develop their abilities, learn new skills, acquire new knowledge and
realize their potential. When companies plan for the career paths of their employees and
invest in them in this way their people invest in them.
WORK/ LIFE BALANCE
A person’s family life influences his wok life. When an employee realizes that the
organization is considering his family’s benefits also, he will have an emotional
attachment with the organization which leads to engagement.
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PERSONAL EMPOWERMENT
Employees want to be involved in decisions that affect their work. The leaders of
high engagement workplaces create an environment that is challenging and trustful, in
which employees are encouraged to dissent from the prevailing orthodoxy and to input
and innovate to move the organization forward.
CHAPTER 4
MEASURING EMPLOYEE ENGAGEMENT AT
BAJAJ ALLIANZ
4.1. PROPOSED METHOD:
16
Employee engagement encompasses commitment to the organization, satisfaction
with the job, passion for work and discretionary effort. With this in mind, a three factor
model – motivation, satisfaction and effectiveness, has been proposed to measure
employee engagement at the sales manager level. Engagement occurs when Satisfaction,
Motivation, and Effectiveness intersect. While each of these factors is important on its
own, it is only when all three are present simultaneously that true engagement occurs.
4.1.1 MOTIVATION
Motivation is the energy behind human behavior. Motivation is what channels and
directs the behavior and what maintains and sustains the action. Based on the theories of
motivation put forth by Maslow (Hierarchical theory of needs), Alderfer (ERG model)
and Herzberg (Two factor theory), organizational needs can be classified into three levels
– BASIC, INTERMEDIATE and ADVANCED.
BASIC:
The first level is a categorization of items that address basic needs of the job.
BASIC items are fundamental to the job. If they are left unmet or unfulfilled, employees
could become dissatisfied with their job and the company.
INTERMEDIATE:
The second level is a categorization of items that address growth and development
needs. These items make up the INTERMEDIATE category. Once the basic needs are
17
ENGAGEMENTENGAGEMENT
met, employees can focus more on INTERMEDIATE factors. If INTERMEDIATE
factors are fulfilled, satisfaction with the job and the company will improve.
ADVANCED:
The third level is a categorization of items that address organizational commitment
needs. These items make up the ADVANCED factors. To exceed employee’s
expectations, ADVANCED factors need to be addressed.
One level does not have to be completely fulfilled to reach the next level. If low
scores are present for items in the BASIC level, then measures must be taken to work on
these items, first.
4.1.2 SATISFACTION
Satisfaction is a positive or pleasurable emotional state resulting from one’s job or
job experience. There are several factors that make up or influence employee satisfaction
– internal communication and planning, the employee’s role in the company, training and
career development opportunities, pay and benefits and the employee’s relation with his/
her peers and superiors.
INTERNAL COMMUNICATION AND PLANNING:
When an employee has the freedom to voice his/her difficulties in the job to
his/her manager and if the manager takes steps to resolve the problems/difficulties posed,
effective communication is in place. A manager must also make sure that the employees
understand what is expected of them in the job.
ROLE:
When the employee’s role in the company makes him/her get absorbed in his/her
work and allows him/her adequate autonomy in making decisions, he/ she becomes
satisfied with his/her role.
TRAINING AND CAREER DEVELOPMENT OPPORTUNITIES:
An organization should provide its employees adequate training at the time of
induction to allow them to get settled in their work environment. Apart from the
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induction training, personal development training as well as training on recent
developments in the field is essential.
PAY AND BENEFITS:
An employee should feel that his/her pay is adequate for his responsibilities. Apart
from this he/she should get adequate incentives when targets are achieved and reward and
recognition programs should be held to honor consistent top performers. The company
should also make sure that the employees are not too stressed and arrange for regular
relaxation games and may be an annual relaxation trip in order to boost employee morale
and foster better workplace relations.
RELATIONS WITH PEERS AND MANAGERS:
An employee has to build a good rapport with not only his/her peers but also
his/her manager. The manager should be approachable and should treat all employees
fairly. A good relation with peers and managers would create a more productive and
effective workforce.
4.1.3 EFFECTIVENESS
The ability of an employee to perform his/her job in a way that meets expectations
and requirements of co-workers, superiors and the organization. Effectiveness of a
employee can be measured on three levels – one’s own goals, manager’s expectations and
organization’s expectations.
MY GOALS:
This is connected to how best the employee thinks he/she has performed his /her
job and whether he/she is able to achieve his/her targets on time.
MANAGER’S EXPECTATIONS:
When the manager appreciates the employee when he/she achieves targets and
recognizes consistent top performers, an employee can be sure that he/she has met the
manager’s expectations.
ORGANIZATION’S EXPECTATIONS:
19
When an employee has a clear understanding of his/her role in the organization
and how his/ her job contributes to the overall mission and vision of the organization, he/
she has fulfilled the expectations of the organization.
A questionnaire consisting of 26 closed ended questions, as shown in Table
A1(Refer Annexure) was designed that measures employee engagement through the three
factor model described above.
CHAPTER 5
DATA ANALYSIS AND RESULTS
5.1. METHODOLOGY:
20
The questionnaire as shown in Table A1(refer Annexure), was administered to a
sample of 100 frontline sales managers from all over Tamil Nadu through telephonic
conversation. Of the 100 respondents, 10 were new recruits with less than one month of
work experience. The respondents were also asked for three suggestions, which they
thought held importance, to improve job satisfaction at Bajaj Allianz.
5.2. ANALYSIS:
SAMPLE DISTRIBUTION: Of the 90 sales managers considered for analysis, Fig 5.2.1
shows the distribution based on their level of experience and gender.
Figure 5.2.1 Distribution - Gender, Work Exp
It has been identified as seen in Fig. 5.2.2 that 19% fall under the “engaged”
category, 68% under the “not engaged” category and 13% under the “actively
disengaged” category.
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Figure 5.2.2 Level of Engagement
DRIVER ANALYSIS:
i. MOTIVATION:
On analysis of the responses received from the sales managers, it was found that
73% felt that their basic needs were met, 78 % intermediate and 76% advanced needs.18
sales managers (20%) out of 90 felt that all of their motivational needs (ie. BASIC,
INTERMEDIATE and ADVANCED) have been met in the organization.
From Fig 5.2.3a it is seen that BASIC needs fulfillment has a lower score. Any
organization should make sure that the BASIC needs of its employees are met before
proceeding to the next level.
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Figure 5.2.3a Analysis – Motivation
If BASIC needs are left unmet or unfulfilled, employees could become dissatisfied
with the job and the company. Looking at the BASIC needs more in detail as shown in
Fig A2i and ii (refer Annexure), it has been found that sales managers who had served for
more than 3 years with the company felt that there were not enough resources and also
not enough incentives for achieving sales targets.
ii. SATISFACTION:
On analysis of the responses received from the sales managers, it was found that
sales managers are not satisfied first with pay and benefits and second, with training.
From Fig.A3i (refer Annexure), sales managers across all levels of work
experience are unanimously dissatisfied with the company’s lack of arrangement for any
relaxation activities. From Fig.A3ii (refer Annexure), it is seen that though training was
given, the effectiveness of such training has to be improved (only 69% felt comfortable
doing their job after such training). Table A2 (refer Annexure) indicates that the
willingness to stay with the organization reduces with the level of work experience.
23
Figure 5.2.3b Analysis - Satisfaction
iii. EFFECTIVENESS:
From Fig 5.2.3c, it is evident that sales managers are performing their jobs in ways
that meet their own expectations, that of the branch manager and that of the organization.
Figure 5.2.3c Analysis - Effectiveness
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CHAPTER 6
RECOMMENDATIONS AND CONCLUSION
From the analysis, the major problem areas have been identified. In the motivation
factor, sales managers felt that they were not enough resources and information such as
brochures for selling policies to customers and there were not enough incentives for
achieving sales targets. Suggestions for the short term would be to have regular
presentations and activities on motivation to make sales managers feel that their work is
valued by the organization. Since majority of the unfavorable responses were obtained
from sales managers who had served the company for more than three years, such
motivational activities have to be targeted on them.
In the satisfaction factor, sales managers felt that there were no relaxation
activities to reduce the stress of their job. Suggestions for the short term would be to have
some games and activities that would foster team spirit (indoor games like cards and
carom) and kindle creativity. For the long term, the organization could organize a short
annual trip for the sales managers and their families to a nearby tourist spot. Such
measures would keep them satisfied and keep them motivated to work whole-heartedly.
Sales managers also felt that though induction training was given, the effectiveness of
such training had to be improved as it was monotonous and scheduled over a short
period. Sales managers felt that they did not have the time to grasp the content of the
training. Training should be given on a regular basis about new products and updates in
the policies. Apart from this training on communication skills, presentation skills and
personal development have to be organized to enable sales managers to grow with the
organization.
Thus, in order to have a more productive and loyal workforce, the organization
should make sure that its employees work with passion and remain engaged.
25
ANNEXURE
Table A1: Questionnaire to measure employee engagement at the sales manager level
Gender: Branch / City:
Age: Experience:
Please mark a tick ( ) against your response
S.No Questions Strongly
agree
Agree Neutral No
1. I have information and other resources
necessary to sell policies to customers
2. I talk to my branch manager EVERYDAY
3. There are people at work who care about
me as a person
4. I felt comfortable doing my work after my
first few months here
5. I know the sales targets of my company
6. I ALWAYS get incentives if I meet sales
targets
7. My branch manager treats everyone equally
8. I have told my branch manager the
difficulties/pressures I face in work
9. I know what are the career opportunities
available for me within my company
10. My branch manager appreciates me when I
meet sales targets
11. I am able to come to work DAILY on time
12. I would recommend my company to a
friend/ relative who is looking for a job
26
13. I get angry if somebody disturbs me when I
am doing my job
14. When I joined this company, I was given
guidance on how to do my job
15. My coworkers and I mostly talk about our
job and what needs to be done to be more
effective
16. Even if another company offers me a better
job, I will stay with my company
17. My branch manager has taken steps to
resolve problems that I face
18. I USUALLY make my own decisions
while doing my work
19. I feel I have performed my job to the best
of my abilities, here
20. My branch manager recognizes top
performers
21. I am able to meet sales targets on time
22. I am willing to work overtime
23. I understand how my work contributes to
the overall mission and goals of the
organization
24. My branch manager is approachable
25. I have gone on one or more leisure
trips/outings with people from work, in the
past year
26. I want to contribute to my organization’s
success by working more
27
Choose the item that would most improve your job satisfaction. (Select any THREE and give the order of
preference 1-high, 2-medium, 3-low)
a)More challenging work e) More rewards/ recognitions
b) More incentives f) More say in how my work gets
done
c)Greater clarity about my own work
preferences and career goals
g)A better relationship with my
manager
d) Greater clarity about what the
organization needs me to do –and why
h)Career development
opportunities and training
Table A2: Correlation between willingness to stay with the organization and level of work experience
Staying * Experience Crosstabulation
Experience
Total1 2 3 4 5 6 7
Staying Disagree Count 1 0 0 1 1 1 0 4
% within Experience 9.1% .0% .0% 5.6% 5.9% 5.9% .0% 4.4%
Neutral Count 0 2 3 2 1 2 0 10
% within Experience .0% 18.2% 20.0% 11.1% 5.9% 11.8% .0% 11.1%
Agree Count 3 2 1 3 3 3 0 15
% within Experience 27.3% 18.2% 6.7% 16.7% 17.6% 17.6% .0% 16.7%
Strongly
agree
Count 7 7 11 12 12 11 1 61
% within Experience 63.6% 63.6% 73.3% 66.7% 70.6% 64.7% 100.0% 67.8%
Total Count 11 11 15 18 17 17 1 90
% within Experience 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
28
Figure A1i MOTIVATION - BASIC needs
Figure A1ii MOTIVATION - INTERMEDIATE needs
Figure A1iii MOTIVATION - ADVANCED needs
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Figure A2i I have information and other resources necessary to sell policies to customers
Figure A2ii I always get incentives if I meet sales targets
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Figure A3i Satisfaction with benefits
Figure A3ii Satisfaction with Training
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GLOSSARY
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IRDA Insurance Regulatory Development Authority
NAV Net Asset Value
ULIPs Unit Linked Insurance Products
CFU Customer Focus Unit
IVR Interactive Voice Response
LIC Life Insurance Corporation
BFS Bajaj FinServ
BIBLIOGRAPHY
1. Bajaj Allianz Life Insurance Company Ltd, http://www.bajajallianz.com/
2. “Employee Engagement Strategy – A strategy of analysis to move from employee
satisfaction to engagement”, Accord Management Systems (2004).
3. Tracy M. Maylett, Juan M. Riboldi, “The three essential components of Employee
Engagement”, DecisionWise Leadership Intelligence Whitepaper (2008).
4. Nitin Vazirani, “Employee Engagement”, SIES College of Management Studies
Working Paper Series (2005).
5. Richard S. Wellins, Paul Bernthal, Mark Phelps, “Employee Engagement - the key
to realizing competitive advantage”, Development Dimensions International
(2004).
6. Nancy R. Lockwood, “Leveraging Employee Engagement for Competitive
advantage”, SHRM Research (2007).
7. “Measuring Employee Engagement”, http:// www.citehr.com /
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