Summer Training Project Report Submitted in partial fulfillment of the requirement for the award of MASTER OF BUSINESS ADMINISTRATION

(MBA)

JOB SATISFACTION OF EMPLOYEES AT RELIANCE GENERAL INSURANCE

In partial fulfillment of the degree of MASTER OF BUSINESS ADMINISTRATION (MBA) At PRANVEER SINGH INSTITUTE OF TECHNOLOGY (KANPUR) GBTU LUCKNOW

SUBMITED TO:Mrs. Pallavi Chaturvadi

SUBMITED BY:ARUSHA GUPTA ROLLNO.1116470011

PREFACE

It is wonderful opportunity provided by PRANVEER SINGH INSTITUTE OF TECHNOLOGY (GBTU,LUCKNOW) to interact with the industrial surface during the academic session of Master of Business Administration (MBA).

I feel very enthusiastic about the compulsory activity provided by academic plot in the form of PROJECT REPORT. This training has provided an opportunity to understand the theoretical concept and to see that how these concepts are applicable in practical life. Working with Reliance General Insurance. was a nice opportunity given to me which made me understanding the working in a company.

I am fortunate that in this interactive session I got the privileged of working in a company i.e.. Reliance General Insurance

DECLARATION

I hereby declare that the project report entitled A STUDY Of JOB

SATISFACTION OF EMPLOYEE submitted for the Master of Business Administration is my original work and the Project Report has not formed the basis for the award of any degree,diploma,associated,or other similar title.

Date

Place

Signature

ACKNOWLEDGEMENT

My immense faith in and gratitude to the helping hands continue to grow unabated. The way they have borne with me is a reason strong enough to extend my heartfelt thanks with immense regards to them. At first, I deeply express my gratitude to my (HOD) Ms.Neha Awasthi and my faculty guide Mrs. Pallavi Chaturvedi for giving necessary instruction and guideance on how to pursue this summer project. I really found your guidance extremely helpful at every step to the research and in analyzing the various facts and figures.

I am gratified to Mr. Himojyoti Sengupta, HR Manager, Reliance General Insurance, for bearing confidence in my abilities and giving me an opportunity to pursue this project. Besides, I am entirely thankful to him for allowing me an access to their internal information sources, so that I can carry out the given responsibilities in the best possible way. This project would not have been possible without his cooperation. Further I would like to express my thanks to all the employees who have responded so cooperatively towards my questionnaire.

I have tried in to put in the best of my efforts to make the project quite comprehensive, illustrative and informative. ARUSHA GUPTA

TABLE OF CONTENTS

1. Executive summary6-7 2. Objectives of research8 3. Company Profile10-21 4. Literature Review..23-44 5. Methodology46-48 Research Design Data Collection method

6. Analysis and Data Interpretation50--67 7. Findings 69 8. Suggestion 71 9. Limitation..73 10. Conclusion.75 11. Bibliography.77-78 12. Annexure..80-83

EXECUTIVE SUMMARY
Project title Job satisfaction of employees 4th June to 19thJuly

Duration

Place

Delhi

Company

Reliance General Insurance

Institute Guide

Mr.Vikram Katyal

Company Guide

Mr. Himojyoti Sengupta

Major Objectives

To assess the satisfaction level of employees in Reliance General Insurance.

To

identify

the

employee

satisfaction towards the facilities. To identify the factors which influence the satisfaction level of employee. To identify the factors which improves the satisfaction level of employees.

Methodology

The study has been conducted on the basis of sample size of 50 employees. Survey was undertaken through a set of questionnaire.

Major Findings

1. Employees

are

not

completely

satisfied with their job although their salary is good enough. 2. They often feel overworked. 3. A harmonious relationship exists in the organization between

employees and management 4. Employees are satisfied with the present company 5. Most of the employees were incentive plan of the

satisfied that they are secured towards their job

Recommendation

1. There should be job rotation and job enlargement the which would of

reduce

boredom

level

employees and would keep them charge to learn and work more. 2. Flexible working hours should be there and employee engagement initiatives should be taken. 3. Training at frequent intervals for creating and maintaining job

interest and satisfaction . 4. The employees who are dissatisfied should be motivated and their grudges should be heard.

OBJECTIVES OF THE STUDY:-

To assess the satisfaction level of employees in Reliance General Insurance.

To identify the employee satisfaction towards the facilities.

To identify the factors which influence the satisfaction level of employee .

To identify the factors which improves the satisfaction level of employees

INTRODUCTION OF THE COMPANY:

MISSION:
1. Create value for all stakeholders 2. Grow through innovation 3. Lead in good governance practices 4. Use sustainability to drive product development and 5. enhance operational efficiencies 6. Ensure energy security of the nation
7. Foster rural prosperity

VISION:
Through sustainable measures, create value for the nation, enhance quality of life across the entire socio-economic spectrum and help spearhead India as a global leader in the domains where we operate.

VALUES:
Our growth and success are based on the ten core values of Care, Citizenship, Fairness, Honesty, Integrity, Purposefulness, Respect, Responsibility, Safety and Trust.

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The Reliance Group, founded by Dhirubhai H. Ambani, is India's largest private sector enterprise, with businesses in the energy and materials value chain. Group's annual revenues are in excess of $ 30 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India. Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a global leader in the materials and energy value chain businesses. It was in 1957 when he returned to India after a stint with A.Besse & Co., Aden he started yarn trading business from a small 500sq.ft. office in Masjid Bunder, Mumbai. He set up his brand new mill in Naroda, Gujarat. In 1996 Reliance went on to become the biggest textile brand Only Vimal. In 1977 the Reliance Textile Industries came with an IPO which was oversubscribed seven times. Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products. Starting as a small textile company, Reliance has in its journey crossed several milestones to become a Fortune 500 company in less than 3 decades. Reliance Industries Limited operates world-class manufacturing facilities across the country at Allahabad, Barabanki, Dahej, Dhenkanal, Hazira, Hoshiarpur, Jamnagar, Kurkumbh, Nagothane, Nagpur, Naroda, Patalganga, Silvassa and Vadodara. The company works under different business segments:

Exploration and Production Petroleum Refining and Marketing Petrochemicals Textiles Retail Communication

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RELIANCE CAPITAL:Reliance Capital is one of Indias leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. The company has interests in asset management and mutual funds, Life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services.

1. Reliance Capital is a part of Reliance Anil Dhirubhai Ambani Group. 2. Reliance Capital is one of the Indias leading and fastest growing private sector financial services companies and ranks among the top private sector financial services and banking companies in terms of net worth. 3. Reliance Capital has interests in asset management and mutual fund, life and general insurance, private equity and proprietary investments, stock broking and other activities in financial services.

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At Reliance Capital, we believe that you are the force behind the company. And with your growth will come the drive that can take this company to higher and stronger levels. Creating a huge wave of satisfaction, not only for our customers and us, but for your career as well.

Our DNA What we display:1. Entrepreneurial Mindset Building ownership for visionary growth and profitability. 2. Ownership & Commitment Strongest together, committed to organizations vision. 3. Speed & Execution Speed in thought & action to enable state-of-the-art execution of ideas. 4. Integrity The primary principle that guides our behavior in the organization. 5. Respect & Dignity Cares for people and values human dignity. 6. Pride & Passion Emotions that bond us and drive excellence.

RELIANCE COMMUNICATIONS LIMITED The flagship company of the Reliance ADA Group, Reliance Communications Limited, is the realization of our founders dream of bringing about a digital revolution that will provide every Indian with affordable means of communication and a ready access to information. The company began operations in 1999 and has over 20 million subscribers today. It offers a complete range of integrated telecom services.
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These include mobile and fixed line telephony; broadband, national and international long distance services, data services and a wide range of value added services and applications aimed at enhancing the productivity of enterprises and individuals.

RELIANCE ENERGY LIMITED

Reliance Energy Limited, incorporated in 1929, is a fully integrated utility engaged in the generation, transmission and distribution of electricity. It ranks among Indias top listed private companies on all major financial parameters, including assets, sales, profits and market capitalization. It is Indias foremost private sector utility with aggregate estimated revenues of Rs 9,500 crore (US$ 2.1 billion) and total assets of Rs10,700 crore (US$ 2.4 billion).Reliance Energy Limited distributes more than 21 billion units of electricity to over 25 million consumers in Mumbai, Delhi, Orissa and Goa, across an area that spans 1,24,300 sq.kms. It generates 941 MW of electricity, through its power stations located in Maharashtra, Andhra Pradesh, Kerala, Karnataka and Goa. The company is currently pursuing several gas, coal, wind and hydro-based power generation projects in Maharashtra, Uttar Pradesh, Arunachal Pradesh and Uttaranchal with aggregate capacity of over 12,500 MW. These projects are at various stages of development. Reliance Energy Limited is vigorously participating in emerging opportunities in the areas of trading and transmission of power. It is also engaged in a portfolio of services in the power sector in Engineering, Procurement and Construction (EPC) through a network of regional offices in India. RELIANCE HEALTH

In a country where healthcare is fast becoming a booming industry, Reliance Health is a focused healthcare services company enabling the provision of solution to Indians, at affordable prices. The company aims at providing integrated health services that will compete with the best in the
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world. It also plans to venture into diversified fields like Insurance Administration, Health care Delivery and Integrated Health, Health

Informatics and Information Management and Consumer Health. Reliance Health aims at revolutionizing healthcare in India by enabling a healthcare environment that is both affordable and accessible through partnerships with government and private businesses.

RELIANCE MEDIA & ENTERTAINMENT

As part of the Reliance - ADA Group, Reliance Entertainment is spearheading the Groups foray into the media and entertainment space. Reliance Entertainments core focus is to build significant presence for Reliance in the Entertainment eco-system: across content and distribution platforms. The key content initiative are across Movies, Music, Sports, Gaming, Internet & mobile portals, leading to direct opportunities in delivery across the emerging digital distribution platforms: digital cinema, IPTV, DTH and Mobile TV. Reliance ADA Group acquired Adlabs Films Limited in 2005, one of the largest entertainment companies in India, which has interests in film processing, production, exhibition & digital cinema. Reliance Entertainment has made an entry into the FM Radio business through Adlabs Radio www.big927fm.com. Having won 45stations in the recent bidding, BIG 92.7 FM is already Indias largest private FM radio network with 12 radio stations across the country as on 28th February 2007, with many more to be launched in the coming months.

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OFFICE STRUCTURE:-

CORPORATE OFFICE

ZONAL OFFICE (4)

REGIONAL OFFICE (14)

SERVICE CENTRES (14)

AREA OFFICE

BRANCH OFFICE

CENTER OFFICE

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OPERATING OFFICE STRUCTURE:-

OFFICE MANAGER

SALES MANAGER RETAIL DIRECT

SALES MANAGER & CORPORATE & BROKER RELATIONS

SALES MANAGER AGENCY

SALES MANAGER TRAVEL

SALES MANAGERMOTOR

SALES MANAGERBANCASSURANCE

BRANCH SERVICE MANAGER

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GEOGRAPHY/REGION: North Zone

Delhi Punjab and Haryana Rajasthan UP & Uttaranchal Zonal Office North North Service Center

East Zone
West Bengal & North East Rest of East Madhya Pradesh & Chhattisgarh Zonal Office East East Service Center

West Zone
Mumbai Rest of Maharashtra and Goa Gujarat West Service Center Zonal Office West

South Zone
Kerala Karnataka Andhra Pradesh Tamil Nadu Zonal Office South South Service Center

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GRADE STRUCTURE:-

E12 E11 E10 E9 E8 B E8 A E7 E6 E5 E4 E3 MT E2 E1

Chief Executive Officer Executive Vice- President Senior Vice-President Vice President Deputy Vice-President Assistant Vice-President Chief Manager Senior Manager Manager Deputy Manager Assistant Manager Management Trainee Senior Executive Executive

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CODE OF ETHICS:1. Commitment to ethical & professional conduct is a MUST for sustained success of a company in today's competitive business environment. 2. Our Code of Ethics is a compilation of various policies & guidelines to ensure we are conducting our business with integrity and in compliance with applicable laws & regulations. 3. There are certain policies detailed in our Code of Ethics which are enlisted below: a. Conflicts of Interests b. Payments and Gifting c. Receipt of Gifts d. Purchases through Suppliers and other service providers e. Sponsorship, Donation and Political Contributions f. Fair Market Practices g. Financial and Accounting Integrity h. External Communication i. Work Ethics including prevention of workplace harassment/threatening behavior j. Insider Trading

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LITERATURE REVIEW 1) A Meta Analysis of Relationship between Individual Job Satisfaction and Job Performance:The co-relational literature concerning the relationships between individual Job satisfaction and individual performance was analyzed, using the meta-analysis techniques of Hunter, Schmidt, and Jackson (1982). Higher and more consistent correlations between overall Job satisfaction

and performance were indicated than those previously reported. Relationships between JDI measures of Job satisfaction and performance were not as high or as consistent as those found between overall Job satisfaction and performance.

2) The Job Satisfaction- Job Performance Relationship: A Qualitative and Quantitative Review:A qualitative and quantitative review of the relationship between Job satisfaction and Job performance is provided. The qualitative review is organized around 7 models that characterize past research on the relationship between Job satisfaction and Job performance. Although some models have received more support than have others, research has not provided conclusive confirmation or discontinuation of any model, partly because of a lack of assimilation and integration in the literature. Research devoted to testing these models waned following 2 metaanalyses of the Job satisfactionJob performance relationship. Because of limitations in these prior analyses and the misinterpretation of their findings, a new meta-analysis was conducted on 312 samples with a combined N of 54,417. The mean true correlation between overall Job satisfaction and Job performance was estimated to be .30. In light of these results and the qualitative review, an agenda for future research on the satisfactionperformance relationship is provided.

3) Comparing Job Satisfaction among Public- and Private-Sector Employees:Over the past several decades a number of empirical studies have demonstrated that Job satisfaction levels vary widely in the American labor force. The effect of age, tenure, salary, JOB type, JOB level, and work environment on an employee's Job satisfaction has been extensively

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discussed. Studies have underscored the importance of identifying the determinants of employee Job satisfaction by linking it to higher production and performance levels and to retention rates. Renewed interest in increasing performance levels in government should interest public administrators in identifying factors that foster worker satisfaction. However, little empirical attention has been given to evaluating job satisfaction levels among public-sector employees. And given that the reward system in the public sector systematically differs from that of the private sector (in terms of pay, benefits, and psychic value), it seems likely that studies of satisfaction levels among private-sector employees may not be applicable to public-sector employees. This paper utilizes analyses of the National Longitudinal Surveys of Youth (NLSY) to compare Job satisfaction levels among public-and private-sector employees. The NLSY is a representative sample of 12,686 men and women. Using this survey allows us to examine the actual work experiences, personal characteristics, and Job satisfaction levels of a selected set of public and private workers. If the factors that contribute to Job satisfaction differ for public-and privatesector employees, as our results suggest they do, then such an analysis is long overdue.

4) Organizational culture and Job satisfaction:This empirical investigation examines the impact of organizational culture types on Job satisfaction in a survey of marketing professionals in a cross-section of firms in the USA. Cameron and Freemans (1991) model of organizational cultures comprising of clan, adhocracy, hierarchy, and market was utilized as the conceptual framework for analysis. The results indicate that Job satisfaction levels varied across corporate cultural typology. Within the study conceptual framework, Job satisfaction invoked an alignment of cultures on the vertical axis that represents a continuum of organic processes (with an emphasis on flexibility and spontaneity) to mechanistic processes (which emphasize control, stability, and order). Job satisfaction was positively related to clan and adhocracy cultures, and negatively related to market and hierarchy cultures.
.

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5) The Spillover of Daily Job Satisfaction onto Employees' Family Lives: The Facilitating Role of Work-Family Integration:
The longitudinal, multisource, multimethod study presented herein examines the role of employees' work-family integration in the spillover of daily Job satisfaction onto daily marital satisfaction and affective states experienced by employees at home. The spillover linkages are modeled at the within-individual level, and results support the main effects of daily Job satisfaction on daily marital satisfaction and affect at home, as well as the moderating effect of work-family integration on the strength of the within-individual spillover effects on home affect. That is, employees with highly integrated work and family roles exhibited stronger intra individual spillover effects on positive and negative affect at home.

6) The relationship between pay and Job satisfaction:

Whereas the motivational aspects of pay are well-documented, the notion that high pay leads to high levels of satisfaction is not without debate. The current study used meta-analysis to estimate the population correlation between pay level and measures of pay and Job satisfaction. Cumulating across 115 correlations from 92 independent samples, results suggested that pay level was correlated .15 with Job satisfaction and .23 with pay satisfaction. Various moderators of the relationship were investigated. Despite the popular theorizing, results suggest that pay level is only marginally related to satisfaction.

7) Job Satisfaction and Co-worker Wages: Status or Signal?

We use matched employeremployee panel data to show that individual Job satisfaction is higher when other workers in the same establishment are better-paid. This runs counter to substantial existing evidence of income comparisons in subjective well-being. We argue that the difference hinges on the nature of the reference group. Here we use co-workers. Their earnings not only induce jealousy but also provide a signal about the worker's own future earnings. In our data, this positive future earnings signal outweighs any negative status effect. This phenomenon is stronger for men and in the private sector but weaker for those nearer retirements.

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8) Job Satisfaction: Literature Review and Empirical Test of a Job Facet Satisfactions Model:The broad objective of this study was to examine the nature and causes of Job satisfaction. This was pursued through a literature review of the more popular theories and models pertaining to Job satisfaction. Included in the review are summaries of Maslow's and Alderfer's need hierarchy theories, achievement motivation theory, Herzberg's motivation-hygiene theory, expectancy theory, Job characteristics theories, discrepancy theory, equity theory, and studies relating to the clustering of facet satisfactions. The specific objective of this research was to test the efficacy of a three cluster model of facet satisfactions. This was accomplished through a survey which was completed by 267 Air Force officers attending Squadron Officer School and Air Command and Staff College. Conclusions reached by the study were that for Air Force officers in the ranks of captain and major: 1. Job satisfaction is higher for older officers who have more time in the service. 2. There is no evidence of a relationship between education level and Job satisfaction. 3. Non-rated officers are more satisfied with their Jobs than rated officers. 4. Work environment facet satisfactions are interpreted by employees to form three clusters: Job properties, interaction features, and organization policy variables. 5. The three clusters of facet satisfactions vary in importance to overall Job satisfaction with Job properties being most important and organization policies being least important.

9) Happiness at Work:
Happiness in the form of pleasant moods and emotions, well-being, and positive attitudes has been attracting increasing attention throughout psychology research. The interest in happiness has also extended to workplace experiences. This paper reviews what is known about the definition, causes and consequences of happiness at work, drawing also on insights from the expanding positive psychology literature on happiness in general. Many discrete organizational behavior constructs arguably belong to a larger family of happiness-related constructs, and share some common causes and consequences. Happiness at work includes, but is far more than, Job satisfaction. A comprehensive measure of individual-level happiness might include work
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engagement, Job satisfaction, and affective organizational commitment. Aspects of happiness have been (and should be) conceptualized and measured at multiple levels, including transient experiences, stable person-level attitudes, and collective attitudes, and with respect to multiple foci, such as discrete events, the Job , and the organization. At all levels, there is evidence that happiness has important consequences for both individuals and organizations. Past research has tended to underestimate the importance of happiness at work.

10) Organizational Culture and Job Satisfaction: An Empirical Study of R & D Organization:
The study is conducted to examine the Organizational Culture theory and practices with emphasis on the effectiveness of satisfaction and motivational dynamics in the areas of employee's satisfaction and retention. The problem statement is based on whether it is only the compensation package which has the worth of retention and employee satisfaction or it is the overall organizational culture which has a pivotal role in retention and making employee satisfy. In order to testify problem statement, the R & D organization Integrated Services (IS), was taken as sample size. The employees were asked through questionnaires about the culture they perceive, prefer and Job satisfaction at their workplace. The research study reveals that the overwhelming majority of employees at IS value the Organizational Behavior and Cultural variables such as "Organization as Result Oriented Place, Loyalty and Mutual Trust Factor, Risk Initiation, Innovation and Development in Work Setup, Challenging Work Environment".

11) Job Performance and Job Satisfaction: An Integrated Survey

The empirical evidence from the econometrics of self-reported Job satisfaction and from organizational psychology on Job performance confronts economic theory with some puzzling results. Job performance is found to be positively correlated with Job satisfaction, whereas

effort is assumed to be a disutility in the theory. Economic incentives are not found to be the main motivations of Job performance; in some cases, indeed, they are even counterproductive. Interest in the Job is found to account better for Job satisfaction. This paper proposes an integrated approach to these issues by (i) conducting an interdisciplinary critical survey, (ii)
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proposing a simple economic framework within which to explain the puzzles. The key idea behind this framework is that intrinsic motivations and self-esteem help explain both Job satisfaction and Job performance. The employer can thus adopt other, more friendly actions, besides using incentives and controls to enhance performance by employees.

12) Does Job Satisfaction Improve Health? New Evidence using Panel Data and Objective Measures of Health:
This paper evaluates the relationship between Job satisfaction and measures of health using the Swiss Household Panel (SHP) and cross-sectional data from the Survey on Health, Ageing and Retirement in Europe (SHARE). Methodologically, it addresses two important design problems frequently encountered in the literature: (a) Cross-sectional causality problems and (b) Unobserved negative affectivity in self-report measures of health status. In this study, however, using the SHP panel structure with Job satisfaction lagged eliminates the simultaneity bias, while employing the objective health measures in the SHARE dataset addresses the negative affectivity issue. For all datasets, a positive link is found between Job satisfaction and self-report health measures: employees with higher Job satisfaction levels are less depressed and feel less impeded in their daily activities. However, when objective measures of physical health are used, no such positive link is observed. Rather, the only positive relationship occurs between and intellectual abilities.

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A) DEFINITIONS OF JOB SATISFACTION

Job satisfaction can simply be defined as the feelings people have about their jobs. It has been specifically defined as a pleasurable (or unpleasurable) emotional state resulting from the appraisal of ones job, an affective reaction to ones job, and an attitude towards ones job. These definitions suggest that job satisfaction takes into account feelings, beliefs, and behaviors.

B) HISTORY
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These studies (19241933), primarily credited to Elton Mayo of the Harvard Business School, sought to find the effects of various conditions (most notably illumination) on workers productivity. These studies ultimately showed that novel changes in work conditions temporarily increase productivity (called the Hawthorne Effect). It was later found that this increase resulted, not from the new conditions, but from the knowledge of being observed. This finding provided strong evidence that people work for purposes other than pay, which paved the way for researchers to investigate other factors in job satisfaction. Scientific management (aka Taylorism) also had a significant impact on the study of job satisfaction. Frederick Winslow Taylors 1911 book, Principles of Scientific Management, argued that there was a single best way to perform any given work task. This book contributed to a change in industrial production philosophies, causing a shift from skilled labor and piecework towards the more modern of assembly lines and hourly wages. The initial use of scientific management by industries greatly increased productivity because workers were forced to work at a faster pace. However, workers became exhausted and dissatisfied, thus leaving researchers with new questions to answer regarding job satisfaction. It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set the tone for Taylors work. Some argue that Maslows hierarchy of needs theory, a motivation theory, laid the foundation for job satisfaction theory. This theory explains that people seek to satisfy five specific needs in life physiological needs, safety needs, social needs, self-esteem needs,

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and self-actualization. This model served as a good basis from which early researchers could develop job satisfaction theories. Job satisfaction can also be seen within the broader context of the range of issues which affect an individual's experience of work, or their quality of working life. Job satisfaction can be understood in terms of its relationships with other key factors, such as general well-being, stress at work, control at work, home-work interface, and working conditions.

C) MODELS OF JOB SATISFACTION :1) Affect theory:Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job satisfaction model. The main premise of this theory is that satisfaction is determined by a discrepancy between what one wants in a job and what one has in a job. Further, the theory states that how much one values a given facet of work (e.g. the degree of autonomy in a position) moderates how satisfied/dissatisfied one becomes when expectations are/arent met. When a person values a particular facet of a job, his satisfaction is more greatly impacted both positively (when expectations are met) and negatively (when expectations are not met), compared to one who doesnt value that facet. To illustrate, if Employee A values autonomy in the workplace and Employee B is indifferent about autonomy, then Employee A would be more satisfied in a position that offers a high degree of autonomy and less satisfied in a position with little or no autonomy compared to Employee B. This theory also states that too much of a particular facet will produce stronger feelings of dissatisfaction the more a worker values that facet. 2) Dispositional theory:Another well-known job satisfaction theory is the Dispositional Theory. It is a very general theory that suggests that people have innate dispositions that cause them to have tendencies toward a certain level of satisfaction, regardless of ones job. This approach became a notable explanation of job satisfaction in light of evidence that job satisfaction tends to be stable over time and across careers and jobs. Research also indicates that identical twins have similar levels of job satisfaction. A significant model that narrowed the scope of the Dispositional Theory was the Core Selfevaluations Model, proposed by Timothy A. Judge, Edwin A. Locke, and Cathy C. Durham in
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1997. Judge et al. argued that there are four Core Self-evaluations that determine ones disposition towards job satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher levels of self-esteem (the value one places on his/her self) and general self-efficacy (the belief in ones own competence) lead to higher work satisfaction. Having an internal locus of control (believing one has control over her\his own life, as opposed to outside forces having control) leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction. 3) Opponent process theory:According to opponent process theory, emotional events, such as criticisms or rewards, elicits two sets of processes. Primary processes give way to emotions that are steady with the event in question. Events that seem negative in manner will give rise to the feelings of stress or anxiety. Events that are positive give rise to the feeling of content or relaxation. The other process is the opponent process, which induces feelings that contradict the feelings in the primary processes. Events that are negative give rise to feelings of relaxation while events that are positive give rise to feelings of anxiety. A variety of explanations have been suggested to explain the uniformity of mood or satisfaction. This theory shows that if you try to enhance the mood of individual it will more likely fail in doing so. The opponent process theory was formulated to explain these patterns of observations. 4) Equity theory:Equity Theory shows how a person views fairness in regard to social relationships. During a social exchange, a person identifies the amount of input gained from a relationship compared to the output, as well as how much effort another persons puts forth. Equity Theory suggests that if an individual thinks there is an inequality between two social groups or individuals, the person is likely to be distressed because the ratio between the input and the output are not equal. For example, consider two employees who work the same job and receive the same benefits. If one individual gets a pay raise for doing the same or less work than the other, then the less benefited individual will become distressed in his workplace. If, on the other hand, one individual gets a pay raise and new responsibilities, then the feeling of inequality is reduced.

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5) Discrepancy theory:The concept of self-discrepancy theory explains the ultimate source of anxiety and dejection. An individual, who has not fulfilled his responsibility feels the sense of anxiety and regret for not performing well, they will also feel dejection due to not being able to achieve their hopes and aspirations. According to this theory, all individuals will learn what their obligations and responsibilities for a particular function, over a time period, and if they fail to fulfill those obligations then they are punished. Over time, these duties and obligations consolidate to form an abstracted set of principles, designated as a self-guide. Agitation and anxiety are the main responses when an individual fails to achieve the obligation or responsibility. This theory also explains that if achievement of the obligations is obtained then the reward can be praise, approval, or love. These achievements and aspirations also form an abstracted set of principles, referred to as the ideal self guide. When the individual fails to obtain these rewards, they begin to have feelings of dejection, disappointment, or even depression. 6) Two-factor theory (motivator-hygiene theory):Frederick Herzbergs Two-factor theory (also known as Motivator Hygiene Theory) attempts to explain satisfaction and motivation in the workplace. This theory states that satisfaction and dissatisfaction are driven by different factors motivation and hygiene factors, respectively. An employees motivation to work is continually related to job satisfaction of a subordinate. Motivation can be seen as an inner force that drives individuals to attain personal and organizational goals (Hokinson, Porter, & Wrench, p. 133). Motivating factors are those aspects of the job that make people want to perform, and provide people with satisfaction, for example achievement in work, recognition, promotion opportunities. These motivating factors are considered to be intrinsic to the job, or the work carried out. Hygiene factors include aspects of the working environment such as pay, company policies, supervisory practices, and other working conditions. While Hertzberg's model has stimulated much research, researchers have been unable to reliably empirically prove the model, with Hackman & Oldham suggesting that Hertzberg's original formulation of the model may have been a methodological artifact. Furthermore, the theory does not consider individual differences, conversely predicting all employees will react in an identical

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manner to changes in motivating/hygiene factors. Finally, the model has been criticized in that it does not specify how motivating/hygiene factors are to be measured. 7) Job characteristics model:Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a framework to study how particular job characteristics impact on job outcomes, including job satisfaction. The model states that there are five core job characteristics (skill variety, task identity, task significance, autonomy, and feedback) which impact three critical psychological states (experienced meaningfulness, experienced responsibility for outcomes, and knowledge of the actual results), in turn influencing work outcomes (job satisfaction, absenteeism, work motivation, etc.). The five core job characteristics can be combined to form a motivating potential score (MPS) for a job, which can be used as an index of how likely a job is to affect an employee's attitudes and behaviors. A meta-analysis of studies that assess the framework of the model provides some support for the validity of the JCM.

D) FACTORS THAT INFLUENCE JOB SATISFACTION:-

Environmental factors

a) Communication overload and communication under load:One of the most important aspects of an individuals work in a modern organization concerns the management of communication demands that he or she encounters on the job. Demands can be characterized as a communication load, which refers to the rate and complexity of communication inputs an individual must process in a particular time frame. Individuals in an organization can experience communication over-load and communication under- load which can affect their level of job satisfaction. Communication overload can occur when an individual receives too many messages in a short period of time which can result in unprocessed information or when an individual faces more complex messages that are more difficult to
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process. Due to this process, given an individuals style of work and motivation to complete a task, when more inputs exist than outputs, the individual perceives a condition of overload which can be positively or negatively related to job satisfaction. In comparison, communication under load can occur when messages or inputs are sent below the individuals ability to process them. According to the ideas of communication over-load and under-load, if an individual does not receive enough input on the job or is unsuccessful in processing these inputs, the individual is more likely to become dissatisfied, aggravated, and unhappy with their work which leads to a low level of job satisfaction. b) Superior-subordinate communication:Superior-subordinate communication is an important influence on job satisfaction in the workplace. The way in which subordinates perceive a supervisor's behavior can positively or negatively influence job satisfaction. Communication behavior such as facial expression, eye contact, vocal expression, and body movement is crucial to the superior-subordinate relationship (Teven, p. 156). Nonverbal messages play a central role in interpersonal interactions with respect to impression formation, deception, attraction, social influence, and emotional. Nonverbal immediacy from the supervisor helps to increase interpersonal involvement with their subordinates impacting job satisfaction. The manner in which supervisors communicate with their subordinates non-verbally may be more important than the verbal content (Teven, p. 156). Individuals who dislike and think negatively about their supervisor are less willing to communicate or have motivation to work whereas individuals who like and think positively of their supervisor are more likely to communicate and are satisfied with their job and work environment. A supervisor who uses nonverbal immediacy, friendliness, and open communication lines is more likely to receive positive feedback and high job satisfaction from a subordinate. Conversely, a supervisor who is antisocial, unfriendly, and unwilling to communicate will naturally receive negative feedback and create low job satisfaction in their subordinates in the workplace. c) Effective human resources practices lead to positive financial outcomes:A Watson Wyatt Worldwide study identified a positive outcome between a collegical and flexible work environment and an increase in shareholder value. Suggesting that employee satisfaction is directly related to financial gain. Over 40 percent of the companies listed in the top
34

100 of Fortune magazines, Americas Best Companies to Work For also appear on the Fortune 500. It is possible that successful workers enjoy working at successful companies, however, the Watson Wyatt Worldwide Human Capital Index study claims that effective human resources practices lead to positive financial outcomes more often than positive financial outcomes lead to good practices.

Individual factors
a) Emotion:Mood and emotions form the affective element of job satisfaction. Moods tend to be longer lasting but often weaker states of uncertain origin, while emotions are often more intense, shortlived and have a clear object or cause. Some research suggests moods are related to overall job satisfaction. Positive and negative emotions were also found to be significantly related to overall job satisfaction. Frequency of experiencing net positive emotion will be a better predictor of overall job satisfaction than will intensity of positive emotion when it is experienced. Emotion work (or emotion management) refers to various types of efforts to manage emotional states and displays. Emotion management includes all of the conscious and unconscious efforts to increase, maintain, or decrease one or more components of an emotion. Although early studies of the consequences of emotional work emphasized its harmful effects on workers, studies of workers in a variety of occupations suggest that the consequences of emotional work are not uniformly negative. It was found that suppression of unpleasant emotions decreases job satisfaction and the amplification of pleasant emotions increases job satisfaction. The understanding of how emotion regulation relates to job satisfaction concerns two models: 1. Emotional dissonance. Emotional dissonance is a state of discrepancy between public displays of emotions and internal experiences of emotions, that often follows the process of emotion regulation. Emotional dissonance is associated with high emotional exhaustion, low organizational commitment, and low job satisfaction.

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2. Social interaction model. Taking the social interaction perspective, workers emotion regulation might beget responses from others during interpersonal encounters that subsequently impact their own job satisfaction. For example: The accumulation of favorable responses to displays of pleasant emotions might positively affect job satisfaction. b) Genetics:It has been well documented that genetics influence a variety of individual differences. Some research suggests genetics also play a role in the intrinsic, direct experiences of job satisfaction like challenge or achievement (as opposed to extrinsic, environmental factors like working conditions). One experiment used sets of monozygotic twins, reared apart, to test for the existence of genetic influence on job satisfaction. While the results indicate the majority of the variance in job satisfaction was due to environmental factors (70%), genetic influence is still a minor factor. Genetic heritability was also suggested for several of the job characteristics measured in the experiment, such as complexity level, motor skill requirements, and physical demands. c) Personality:Some research suggests an association between personality and job satisfaction. Specifically, this research describes the role of negative affectivity and positive affectivity. Negative affectivity is related strongly to the personality trait of neuroticism. Individuals high in negative affectivity are more prone to experience less job satisfaction. Positive affectivity is related strongly to the personality trait of extraversion. Those high in positive affectivity are more prone to be satisfied in most dimensions of their life, including their job. Differences in affectivity likely impact how individuals will perceive objective job circumstances like pay and working conditions, thus affecting their satisfaction in that job.

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E) IMPORTANCE OF JOB SATISFACTION : To Worker And Organization

Job satisfaction and occupational success are major factors in personal satisfaction, self-respect, self-esteem, and self-development. To the worker, job satisfaction brings a pleasurable emotional state that can often leads to a positive work attitude. A satisfied worker is more likely to be creative, flexible, innovative, and loyal. For the organization, job satisfaction of its workers means a work force that is motivated and committed to high quality performance. Increased productivity- the quantity and quality of output per hour worked- seems to be a byproduct of improved quality of working life. It is important to note that the literature on the relationship between job satisfaction and productivity is neither conclusive nor consistent. However, studies dating back to Herzbergs (1957) have shown at least low correlation between high morale and high productivity and it does seem logical that more satisfied workers will tend to add more value to an organization. Unhappy employees, who are motivated by fear of loss of job, will not give 100 percent of their effort for very long. Though fear is a powerful motivator, it is also a temporary one, and also as soon as the threat is lifted performance will decline. 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. Although only little correlation has been found between job satisfaction and productivity, Brown (1996) notes that some employers have found that satisfying or delighting employees is a prerequisite to satisfying or delighting customers, thus protecting the bottom line.

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F) EMPLOYEES ROLE IN JOB SATISFACTION :If job satisfaction is a employee benefit, surely the employee must be able to contribute to his or her own satisfaction and well-being on the job. The following suggestions can help a worker find personal job satisfaction:1. Seek opportunities to demonstrate skills and talents. This often leads to more challenging work and greater responsibilities, with attendant increases in pay and other recognition. 2. Develop excellent communication skills. Employers value and reward excellent reading, listening, writing, and speaking skills. 3. Know more. Acquire new job-related knowledge that helps you to perform tasks more efficiently and effectively. This will relieve boredom and often gets one noticed. 4. Demonstrate creativity and initiative. Qualities like these are valued by most organizations and often result in recognition as well as in increased responsibilities and rewards. 5. Develop teamwork and people skills. A large part of job success is the ability to work well with others to get the job done. 6. Accept the diversity in people. Accept people with their differences and their imperfections and learn how to give and receive criticism constructively. 7. See the value in your work. Appreciating the significance of what one does can lead to satisfaction with the work itself. This helps to give meaning to one's existence, thus playing a vital role in job satisfaction. 8. Learn to de-stress. Plan to avoid out by developing healthy stress-management techniques.

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G)

EFFECTS OF LOW JOB SATISFACTION :Job Stress:-

i.

When employees are not happy with their jobs, they are much more likely to experience and report stress on the job. Workers who are satisfied or happy at work are much less likely to report feeling stressed out by their job. This is basic human nature -- if you are not doing something you enjoy, chances are you are going to feel dissatisfied and even little things will make you feel stressed out and unhappy.

ii.

Poor Overall Morale:-

When one employee is miserable doing their job, all of the other employees they come into contact with are going to be affected by their attitude. If they see someone who is so obviously miserable, it will begin to color how they view their own jobs. Negative attitudes can spread through a workplace like wildfire and, if they are not improved, the overall morale of the employees will take a sharp decline.

iii.

Lack of Productivity:Low job satisfaction, coupled with low employee morale equals a lack of

productivity in the workplace. Again, we have basic human nature at work. When someone is unhappy, they don't focus well and they don't pay attention to their tasks. They find hundreds of other things to do that do make them happy, all the while ignoring the job they should be doing. When one member of a team displays low productivity, it is only natural for other members of the team to feel dissatisfied as a result, and their productivity will begin to decline as well. It is a vicious cycle that is all too common.

iv.

High Employee Turnover Rates:Low job satisfaction also creates high turnover rates with employees. Sooner or

later, the employee is going to quit so that they can find a job they actually enjoy doing. Many industries such as food service suffer from high turnover rates and the inability to retain qualified workers. It is up to small business owners and managers to find a way to increase job satisfaction, particularly in difficult industries in which the jobs are tough and the pay is low.

39

v.

High absenteeism:Absenteeism means it is a habitual pattern of absence from duty or obligation. If

there will be low job satisfaction among the employees the rate of absenteeism will definitely increase and it also affects on productivity of organization.

vi.

Training cost increase:Due to lack of job satisfaction the Human resource manager has to recruit new employees. Due to which the training expenditure will increases

H) TECHNIQUES OF MEASUREMENT OF JOB SATISFACTION :Job satisfaction is a qualitative aspect and cannot be understood in strict quantitative terms. It is an intangible and psychological concept. It was concluded that job satisfaction should be measured through survey of employees attitudes. In most of the organizations, there is a practice of conducting surveys of employees intentions in a regular manner. The commonly applied techniques employed to measure job satisfaction are discussed below:-

i) Rating Scales:Rating scales are the commonly adopted method that is used for the measuring job satisfaction. It comprises of certain statements describing the attitude of the employees with respect to the job, organization and personal factors. For each declaration or statement, the employee is invited to express his opinion on a scale consisting of different expressions.

ii) Personal Interviews:Conducting personal interviews has also proved important method of measuring job satisfaction of the employees. The experts conduct these personal interviews where employees express their opinions on job satisfaction. The responses delivered through these interviews are analyzed to find their level of job satisfaction. It is believed that this method is likely to have personal biased views of the interviewer also.

40

iii) Tendencies:The employees are asked to express their tendency or inclination on several aspects and this reveals their satisfaction or dissatisfaction. iv) Critical Incidents:Herzberg made developed approach to measure job satisfaction. In this particular method, the employees were asked to describe incidents on their job when they were particularly satisfied or dissatisfied. These set of incidents were then analyzed to determine their positive and negative attitudes. v) Schedule rest periods:Extensive research on the impact of rest periods indicates that they may increase both morale and productivity. Scheduled rest periods bring many advantages: a) They counteract physical fatigue. b) They provide variety and relieve monotony. c) They are something to look forward to- getting a break gives a sense of achievement. d) They provide opportunities for social contacts. vi) Job enlargement:Job enlargement is a generic term that broadly means adding more and different tasks to a specialized job. It may widen the number of task the employee must do that is, add variety. When additional simple task are added to a job, the process is called horizontal job enlargement. This also presumably adds interest to the work and reduces monotony and boredom.

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I) FACTORS OF JOB SATISFACTION:a) Working Conditions:Because employees spend so much time in their work environment each week, it's important for companies to try to optimize working conditions. Such things as providing spacious work areas rather than cramped ones, adequate lighting and comfortable work stations contribute to favorable work conditions. Providing productivity tools such as upgraded information technology to help employees accomplish tasks more efficiently contributes to job satisfaction as well.

b) Opportunity for Advancement:Employees are more satisfied with their current job if they see a path available to move up the ranks in the company and be given more responsibility and along with it higher compensation. Many companies encourage employees to acquire more advanced skills that will lead to the chance of promotion. Companies often pay the cost of tuition for employees taking university courses, for example. During an employee's annual performance review, a supervisor should map out a path showing her what she needs to accomplish and what new skills she needs to develop in order to be on a track to advancement within the organization.

c) Workload and Stress Level:Dealing with a workload that is far too heavy and deadlines that are impossible to reach can cause job satisfaction to erode for even the most dedicated employee. Falling short of deadlines results in conflict between employees and supervisors and raises the stress level of the workplace. Many times, this environment is caused by ineffective management and poor planning. The office operates in a crisis mode because supervisors don't allow enough time for employees to perform their assigned tasks effectively or because staff levels are inadequate.

d) Respect from Co-Workers:Employees seek to be treated with respect by those they work with. A hostile work environment -- with rude or unpleasant coworkers -- is one that usually has lower job satisfaction. In an August 2011 survey published by FoxBusiness.com, 50 percent of those responding said they had personally experienced a great amount of workplace incivility. Fifty
42

percent also believe morale is poor where they work. Managers need to step in and mediate conflicts before they escalate into more serious problems requiring disciplinary action. Employees may need to be reminded what behaviors are considered inappropriate when interacting with coworkers.

e) Relationship with Supervisors:Effective managers know their employees need recognition and praise for their efforts and accomplishments. Employees also need to know their supervisor's door is always open for them to discuss any concerns they have that are affecting their ability to do their jobs effectively and impeding their satisfaction at the office.

f) Financial Rewards:Job satisfaction is impacted by an employee's views about the fairness of the company wage scale as well as the current compensation she may be receiving. Companies need to have a mechanism in place to evaluate employee performance and provide salary increases to top performers. Opportunities to earn special incentives, such as bonuses, extra paid time off or vacations, also bring excitement and higher job satisfaction to the workplace.

J) REASONS FOR JOB DISSATISFACTION :Many employees feel dissatisfied with their jobs at one point or another. Some employees leave their jobs for better opportunities, while others choose to stay. Employees with low job satisfaction can negatively affect a company because they typically lack motivation, perform poorly and possess negative attitudes. These symptoms can directly affect a companys bottom line. Managers should understand the reasons employees are unhappy at work. Understanding the causes can help managers find the right solutions.

a) Underpaid:One of the primary reasons for job dissatisfaction results from companies underpaying workers. Peter Cohan of Daily Finance said in an article that the Economic Policy institute reported that workers income is lagging behind inflation as of 2011. This means that employees must stretch their dollar further to buy higher-priced goods and services. Not only

43

must employees deal with stagnant wages but also high costs for health insurance. The stress of paying bills with limited income causes many workers to feel dissatisfied with their jobs.

b) Limited Career Growth and Advancement:A lack of career growth and advancement is another reason why workers are dissatisfied at their jobs. Employees who feel stuck in their job position are less motivated to maintain high productivity than those who do not. Workers feel valued when employers include them in their long-term plans and show their appreciation through promotions. Employees who move up in an organization and receive just compensation to reflect their title and responsibility changes usually commit themselves to the company for the long term.

c) Lack of Interest:A lack of interest in the work is another reason why employees are unhappy. Most employees want to perform job duties that are engaging and challenging. Monotonous work causes an employee to experience boredom. Bored and unchallenged employees experience little incentive to concern themselves with workplace productivity. According to Lise M. Saari and Timothy Judge from the University of Tennessee, Martin, the nature of employees' work accounts for the most situational influence in workplace satisfaction.

d) Poor Management:The management team plays an important role within an organization. Managers are responsible for motivating employees, planning, organizing and controlling within the organization. A key reason employees perform poorly in the workplace is poor management. Managers with poor leadership skills tend to offer little feedback on employees performances. Micromanaging and dictating to employees instead of motivating them can cause a decrease in employee productivity. Some organizations possess highly political cultures that tend to discourage workers from believing the roles they fill are important to the organization.

44

45

RESEARCH METHODOLOGY
Research Methodology:Research methodology is the systematic way to solve the research problem.

It gives an idea about various steps adopted by the researcher in a systematic manner with an objective to determine various manners.

Research Design:A research design is considered as the framework or plan for a study that guides as well as helps the data collection and analysis of data. The research design may be exploratory, descriptive and experimental for the present study. The descriptive research design is adopted for this project. Methodology used for the data collection:The methods can be broadly classified as given below:-

PRIMARY DATA COLLECTION:To prepare the job satisfaction of the employees, I conducted the survey

through questionnaires for getting the information regarding the job satisfaction and other aspects of carrying out the job satisfaction. Overall, the methods which were carried to collect data were: 1. Observation: - In this method the individual performing the job are observed and relevant points are noted. This method is helpful in making the observation about how much an employee enjoys his/her work. 2. Individual interview method: - The interview of employees is a source of information and it helps to obtain effective information in structured form. Steps involved in doing personal interview were: a) Selecting the people who would be able to answer the required questions by taking out time from their busy schedule

46

b) Perform personal interview c) Note down the answers

SECONDARY DATA COLLECTION The data was also collected through: 1. Internet 2. Inputs from the seniors and training guide 3. Articles on relevant topic Sample size The study sample constitutes 100 respondents constituting in the research area. Sampling Area The study is conducted in employees of Reliance General Insurance. Sampling Design The researcher has used probability sampling in which simple random sampling is used. Collection of Data Most of the data collected by the researcher is primary data through personal interview, where the researcher and the respondent operate face to face. Research Instrument The researcher has used a structured questionnaire as a research instrument tool which consists of open ended questions, multiple choice and dichotomous questions in order to get data. Thus, 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 Statistical Tools The statistical tools used for analyzing the data collected are bar diagrams.

47

LIMITATIONS OF THE RESEARCH:a) Less time for study b) Some of the employees were unwilling to fill the questionnaires. c) Information was to be kept confidential. d) The answers given by the respondents have to be believed and have to be taken for granted as truly reflecting their perception.

48

49

Q1) How satisfied you are working with the company?

respondent percentage Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 14 24 12 0 0 50 28% 48% 24% 0 0 100%

30 25 20 15 10 5 0 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 0 14 12 no. of respondents 24

Interpretation:The researcher found that about 48% respondents were satisfied, 28% were highly satisfied and 24% were neutral with the working of the company.
50

Q2) Are you satisfied with the opportunities for growth and advancement in job?

respondent percentage Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 9 27 12 2 0 50 18% 54% 24% 4 0 100%

30 25 20 15 10 5 0 Highly satisfied 9

27

12

no. of respondents

2 0 Satisfied Neutral Dissatisfied Highly dissatisfied

Interpretation:-

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The researcher found that about 18% respondents were highly satisfied, 54% were satisfied,24% respondents were neutral and 4% were dissatisfied about the opportunities for growth and advancement in job. Q3) How satisfied you are with the working environment of the company?

respondents percentage Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 7 30 10 3 0 50 14% 60% 20% 6% 0 100%

35 30 30 25 20 15 10 10 5 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 7 3 0 no. of respondents

Interpretation:52

The researcher found that about 60% respondents were satisfied, 14% were highly satisfied,20% respondents were neutral and 6 % were dissatisfied about the working environment of the company. Q4 ) How satisfied you are with the job security at the company?

respondents Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 10 24 14 2 0 50

percentage 20% 48% 28% 4% 0 100%

30 25 20 15 10 10 5 0 2 0 no. of respondents 14 24

Interpretation:-

53

The researcher found that about 48% respondents were satisfied, 20% were highly satisfied,28% were neutral and 4 % were dissatisfied about the job security at the company.

Q5)Do you find job related autonomy in the company?

respondents Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 17 20 11 2 0 50

percentage 14% 40% 22% 4% 0 100%

25 20 20 15 11 10 5 0 no. of respondents 2 0 17

Interpretation:54

The researcher found that about 14% respondents were highly satisfied, 60% respondents were satisfied , 20% respondents were neutral and 6% respondents were dissatisfied regarding their amount of recognition for their work.

Q6) How satisfied you are with :Highly satisfied benefits Promotion process Vacation time technology 6 6 2 6 satisfied 24 19 24 23 18 neutral 18 25 22 18 24 dissatisfied Highly dissatisfied 2 0 2 3 0 0 0 0 0 0 total 50 50 50 50 50

Communication 8 process

A)

benefits
30 25 20 15 10 5 0 6 2 0 no. of respondents 24 18

Interpretation:55

The researcher found that about 12% respondents were highly satisfied, 48% respondents were satisfied , 36% respondents were neutral and 4% respondents were dissatisfied regarding the benefits given by the company..

B)

promotion process
30 25 20 15 10 5 0 6 0 0 no. of respondents 19 25

Interpretation:The researcher found that about 12% respondents were highly satisfied, 38% respondents were satisfied , 50% respondents were neutral regarding the promotion process.

C)

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Vacation time
30 25 20 15 10 5 0 2 2 0 no. of respondents 24 22

Interpretation:The researcher found that about 4% respondents were highly satisfied, 48% respondents were satisfied, 44% respondents were neutral and 4% respondents were dissatisfied regarding their vacation time.

D)

technology
25 20 15 10 5 0 6 3 0 no. of respondents 23 18

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Interpretation:The researcher found that about 12% respondents were highly satisfied, 46% respondents were satisfied, 36% respondents were neutral and 6% respondents were dissatisfied about the tools and technology used in the company.

E)

communication process
30 25 20 15 10 5 0 8 0 0 no. of respondents 18 24

Interpretation:The researcher found that about 16% respondents were highly satisfied, 36% respondents were satisfied, 48% respondents were neutral about the communication process of the company.

Q7) Does the company clearly conveys its mission to its employees?

respondents percentage Highly satisfied 13 38%

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satisfied neutral dissatisfied Highly dissatisfied total

18 19 0 0 50

36% 26% 0% 0 100%

20 18 16 14 12 10 8 6 4 2 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied no. of respondents

Interpretation:The researcher found that about 38% respondents were highly satisfied, 36% respondents were satisfied , 26% respondents were neutral regarding the convey of mission to employees.

Q8) Do you receive right amount of recognition for your work?

respondents

percentage

59

Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total

7 30 10 3 0 50

14% 60% 20% 6% 0 100%

35 30 30 25 20 15 10 10 5 0 highly satisfied satisfied neutral dissatisfied highly dissatisfied 7 3 0 no.of respondents

Interpretation:The researcher found that about 14% respondents were highly satisfied, 60% respondents were satisfied , 20% respondents were neutral and 6% respondents were dissatisfied regarding their amount of recognition for their work.

Q9) Do you have opportunities at work to learn and grow?

Highly satisfied
60

16%

satisfied neutral dissatisfied Highly dissatisfied total

24 15 3 0 50

48% 30% 6% 0 100%

30 25 20 15 15 no. of respondents 10 5 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 8 3 0 24

Interpretation:The researcher found that about 16% respondents were highly satisfied, 48% respondents were satisfied , 30% respondents were neutral and 6% respondents were dissatisfied regarding their opportunities to learn and grow.

Q10) Is your compensation fair for the work that you do? respondents percentage Highly satisfied 6 12%

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satisfied neutral dissatisfied Highly dissatisfied total

24 12 3 5 50

48% 24% 6% 10% 100%

30 25 20 15 10 6 5 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 3 5 12 24

no. of respondents

Interpretation:The researcher found that about 12% respondents were highly satisfied, 48% respondents were satisfied, 24% respondents were neutral and 6% respondents were dissatisfied about the fair compensation.

Q11) Are you able to maintain good balance between your work life and personal life? respondents percentage Highly satisfied 2 14%

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satisfied neutral dissatisfied Highly dissatisfied total

9 17 20 2 50

60% 20% 6% 0 100%

25 20 20 17 15 10 5 2 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 2 9 no. of respondents

Interpretation:The researcher found that about 14% respondents were highly satisfied, 60% respondents were satisfied, 20% respondents were neutral and 6% respondents were dissatisfied regarding their balance between work life and family life.

Q12) Does your views and participation are valued?

respondents percentage
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Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total

3 28 16 3 0 50

6% 36% 32% 6% 0 100%

30 25 20

28

16 15 no. of respondents 10 5 0 Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied 3 3 0

Interpretation:The researcher found that about 6% respondents were highly satisfied, 36% respondents were satisfied, 32% respondents were neutral and 6% respondents were dissatisfied regarding their valuation of views and participation.

Q13) Are you optimistic about your future with this organization?

respondents percentage
64

Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total

5 22 18 5 0 50

10% 44% 36% 10% 0 100%

25 20 15 10 5 5

22 18

5 0

no. of respondents

Interpretation:The researcher found that about 10% respondents were highly satisfied,44% respondents were satisfied ,36% respondents were neutral and 10% respondents were dissatisfied about their future with this organization.

Q14) Do you receive regular feedbacks on your job performance?

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respondents percentage Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total 17 18 12 3 0 50 24% 36% 24% 6% 0 100%

20 18 16 14 12 10 8 6 4 2 0 Highly satisfied 17

18

12

no. of respondents

3 0 Satisfied Neutral Dissatisfied Highly dissatisfied

Interpretation:The researcher found that about 24% respondents were highly satisfied,36% respondents were satisfied ,24% respondents were neutral and 6% respondents were dissatisfied about regular feedback on their job performance. Q16) Are you satisfy with your job?

respondents percentage
66

Highly satisfied satisfied neutral dissatisfied Highly dissatisfied total

6 30 14 0 0 50

12% 60% 28% 0 0 100%

35 30 25 20 15 10 5 0 6

30

14 no. of respondents 0 0

Interpretation:The researcher found that about 12% respondents were highly satisfied,60% respondents were satisfied .28% respondents were neutral about their job satisfaction.

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FINDINGS

1. Employees are not completely satisfied with their job although their salary is good enough. 2. They often feel overworked. 3. A harmonious relationship exists in the organization between employees and management 4. Employees are satisfied with the present incentive plan of the company 5. Most of the employees were satisfied that they are secured towards their job 6. Mixture of responses were there on the basis of satisfaction level towards salary 7. Most of the employees were not able to make a balance between their work life and personal life . 8. Most of the employees were committed to their work. 9. Job related autonomy was found in the organization. 10. Company clearly conveys its mission to employees so that there would be smooth functioning in the organization.

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70

1. There should be job rotation and job enlargement which would reduce the boredom level of more. 2. Flexible working hours should be there and employee engagement initiatives should be taken. 3. Training at frequent intervals for creating and maintaining job interest and satisfaction 4. To increase the job satisfaction level of the employees the company should concentrate mainly on the incentive and reward structure rather than the motivational session. 5. The employees who are dissatisfied should be motivated and their grudges should be heard. 6. Company should look after the employee concern and provide appropriate training to every new joinee to make him familiar with the working environment. 7. Company should give promotion to those employees who deserve it. 8. Promotion policies should be more improved and clear so that employee would me more motivated. 9. More Employees Benefit schemes should be regulated so employees can get more advantages. 10. Channels & level of communications should be improved for proper flow of information. . employees and would keep them charge to learn and work

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However I tried my best in collecting the relevant information for my research report, yet there are always some problems faced by the researcher. The prime difficulties which I face in collection of information are discussed below:1. Short time period: The time period for carrying out the research was short as a result of which many facts have been left unexplored. 2. Lack of resources: Lack of time and other resources as it was not possible to conduct survey at large level. 3. Small no. of respondents: Onl y 50 em pl o ye es have b een ch osen whi ch i s a small number, to represent whole of the population. 4. Unwillingness of respondents: W hi l e col l ect i on of t he dat a m a n y consum ers were unwilling to fill the questionnaire. Respondents were having a feeling of wastage of time for them. 5. Manipulative Answers: The data given by the respondents may be manipulated as they had a fear of the information being disclosed to the management. 6. Hiding of true information: There may be certain discrepancies in the findings due to respondents tendency to hide the true information. The study was restricted to Reliance General Insurance only and other being the time as constraint.

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74

CONCLUSION
It was good learning session for me during my tenure with RELIANCE GENERAL INSURANCE. It is a well organized company. While doing the project, I learnt a lot about various general insurance verticles functioning . This study was conducted on job satisfaction among Reliance General Insurance employees. Job satisfaction is a very big concept as it includes various factors associated with job satisfaction of employees.

Satisfaction varies from employee to employee. Employees are given equal salaries then also some employees are satisfied with it and some are not. So at end I would like to say , that organization should try to take every possible step to enhance job satisfaction among employees because if employees are satisfied then customers associated with it will also be satisfied

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9) Fisher, C. (2010). happiness at work. International journal of management reviews , 12 (4), 384-412.

10) Jahanzeb Shah ;Shaheed Zulfikar Ali Bhutto Institute of Science and Technology (SZABIST). (2007). Organizational Culture and Job Satisfaction: An Empirical Study of R & D Organization. social science research network , 14.

11 )University of Cassino - Department of Economic Sciences Maurizio Pugno . (2009). Job Performance and Job Satisfaction: An Integrated Survey. University of Trento, Dept. of Economics Discussion Paper No. 4 , 66.

12) Justina A. V. Fischer ,Alfonso Sousa-Poza ;Organization for Economic Co-Operation and Development (OECD) ; Stockholm School of Economics ; University of Hohenheim ,University of Hohenheim - Institute of Household and Consumer Economics ; Institute for the. (2006). Does Job Satisfaction Improve Health? University of St. Gallen FAA Discussion Paper No. DP-110 , 35.

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ANNEXURE

Dear respondent, I am student of Lovely Professional University. I am conducting a survey for the project on the Job satisfaction of employees at Reliance General Insurance. So I request you to please fill the questionnaire below. Any information provided by you will strictly be used for academic purpose. I assure you that the privacy of your data will be maintained.

Name:

Gender: .....

Designation: .. Service Period...

Q1) Overall, how satisfied are you working for The Company? a)Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q2) Are you satisfied with the opportunities for Growth and Advancement in Job? a) Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q3) how satisfied you are with the working environment of the company? a)Highly satisfied b) Satisfied Q4) How satisfied you are with the job security at the company? a) Highly satisfied b) Satisfied Q5) Do you find job related autonomy in the company?
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c )Neutral

d )Dissatisfied e) Highly Dissatisfied

c )Neutral

d )Dissatisfied e) Highly Dissatisfied

a) Highly satisfied b) Satisfied Q5) How satisfied you are with :

c )Neutral

d )Dissatisfied e) Highly Dissatisfied

Highly satisfied a)benefits offered by the company b)process promotion used to determine

Satisfied

Neutral

Dissatisfied Highly dissatisfied

c)vacation time you receive d)tools and resources provided to do the job e)communication process prevailing in the company

Q8) Does the company clearly conveys its mission to its employees? a) Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q9) Do you receive right amount of recognition for your work? a) Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q10) Do you have opportunities at work to learn and grow? a) Highly satisfied b) Satisfied
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c ) Neutral

d )Dissatisfied e) Highly Dissatisfied

Q11) Is your compensation fair for the work that you do? a) Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q12) Are you able to maintain a good balance between your work life and family life? a)Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q13) Does your views and participation are valued? a)Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q14) Are you optimistic about your future with this organization? a)Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

Q15) Do you receive regular feedbacks on your job performance? a)Highly satisfied b) Satisfied Q16) Are you satisfy with your job? a)Highly satisfied b) Satisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied c )Neutral d )Dissatisfied e) Highly Dissatisfied

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Q17) Kindly suggest the factors that influence job satisfaction level(areas for improvement):

THANK YOU

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