str smc insurance on job satisfaction mba

8/13/2019 STR SMC Insurance on Job Satisfaction MBA

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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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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 satisfaction, 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_science


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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


2 Satisfied 40 40%


4 Dissatisfied 8 8%


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 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


2 Satisfied 40 40%


4 Dissatisfied 13 13%


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 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%



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14. I am satisfied with the administration in my office.


2 Agree 60 60%

3 Neutral 20 20%

4 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%



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15. The rest rooms / washrooms are clean, hygienic and well ventilated.


2 Agree 60 60%

3 Neutral 12 12%

4 Disagree 7 7%


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%



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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%


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%



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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


(d) 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


(d) 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


14. I am satisfied with the administration in my office.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree


15. The rest rooms / washrooms are clean, hygienic and well ventilated.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree



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16. I am satisfied with my work.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) 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

str smc insurance on job satisfaction mba

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