A STUDY ON EMPLOYEES SATISFACTION IN ICICI PRUDENTIAL LIFE INSURANCE IN CHENNAI

Project Report Submitted to

UNIVERSITY OF MADRAS

In partial fulfillment of the

requirement for the award of

MASTER OF BUSINESS
Submitted by

ADMINISTRATION

Mr. P. SENTHILKUMAR
(Reg. No. RB 60819) Under the guidance of Mr. S. ARULKRISHNAN, M.Sc., M.B.A.

DEPARTMENT OF VEL SRI RANGA

MANAGEMENT STUDIES SANGU COLLEGE (ARTS AND SCIENCE)

(Approved by AICTE, New Delhi & Affiliated to University of Madras) Avadi, Chennai 600 062.

APRIL 2008

DECLARATION

This is to certify that the project work titled A STUDY ON EMPLOYEES SATISFACTION IN ICICI PRUDENTIAL LIFE INSURANCE IN CHENNAI is bonafide work done by me under the guidance of Mr. S. Arulkrishnan (Internal Guide).

P. SENTHILKUMAR Place: Chennai Reg. No.RB60819 Date :

ACKNOWLEDGEMENT

First and foremost I would like to give my wholehearted and sincere thanks to the almighty god helping me throughout the project.

I like this opportunity to thank our principal Dr. R.K. Balasumbramaniyan M.Sc. M.Phil., Ph.D., for encouraging me and supporting me towards the completion of project.

I sincerely thank our head of the department Dr. K. Anand M.A., M.B.A., Ph.D., for this consistent encouragement and support while carrying out this work.

Its joy to work with my staffs that brings the out of student even in adverse time it is a great joy and privilege to work with my faculty guide Mr. S. Arulkrishnan, M.Sc., M.B.A., who gave his valuable guidance for completing this project.

LIST OF CONTENTS CHAPTER CHAPTER - 1 TITLE Introduction Objectives Scope Limitations Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Company Profile Review of Literature Research methodology Data Analysis And Interpretation Findings Suggestion Conclusion Bibliography Appendix Page No. 1 2 3 4 5 11 13 20 54 55 56 57 58

LIST OF TABLES S.No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Particulars
GENDER CLASSIFICATION AGE CLASSIFICATION YEARS OF EXPERIENCE SALARY PACKAGE OF THE EMPLOYEES SATISFACTION LEVEL OF CURRENT SALARY CO OPERATION OF COLLEGUES EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY SATISFACTION LEVEL OF JOB SECURITY SATISFACTION LEVEL ON PRESENT JOB PREFERENCE ON SUPERVISION OF JOB TREATING OF MANAGEMENT TOWARDS EMPLOYEES EMPLOYEES OPINION ON INCREMENT EMPLOYEES OPINION FOR OVERTIME PAYMENT RESPONDENTS OPINION ON RETIREMENT BENEFITS PREFERENCE FOR CHILDREN EDUCATION FACILITY REGARDING TO EMPLOYEES SATISFACITON

Page No 22 24 26 28 30 32 34 36 38 40 42 44 46 48 50 52

LIST OF CHARTS S.No. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. Particulars
GENDER CLASSIFICATION AGE CLASSIFICATION YEARS OF EXPERIENCE SALARY PACKAGE OF THE EMPLOYEES SATISFACTION LEVEL OF CURRENT SALARY CO OPERATION OF COLLEGUES EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY SATISFACTION LEVEL OF JOB SECURITY SATISFACTION LEVEL ON PRESENT JOB PREFERENCE ON SUPERVISION OF JOB TREATING OF MANAGEMENT TOWARDS EMPLOYEES EMPLOYEES OPINION ON INCREMENT EMPLOYEES OPINION FOR OVERTIME PAYMENT RESPONDENTS OPINION ON RETIREMENT BENEFITS PREFERENCE FOR CHILDREN EDUCATION FACILITY REGARDING TO EMPLOYEES SATISFACITON

Page No 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53

CHAPTER I

INTRODUCTION

INTRODUCTION
Employees Satisfaction is the end feeling of a person after performing a task. The relationship between man and work always attracted the attention of philosophers, scientists and novelists the nature as area or study, as it occupies much of mans life span. The term employees satisfaction covers the satisfaction covers the satisfaction derived from being engaged in work or in any pursuit of a higher order, it is essentially related to human need and their fulfillment through work it is generated by the individuals perception of how well his employer satisfies his various needs. Here the employees are mostly base on welfare facilities. Welfare facilities can be classified into two types that is intramural and extramural facility. The management should provided both intramural and extramural facility for employees satisfaction. Intramural facilities are a facility, which is provided with in the organization that is lighting, ventilation, water, air, toilet and etc.

Extramural facilities are facilities which provided outside of the organization that housing, transport, educational training and development etc. This study collects the data regarding promotional system, bonus, loans facility, festival advance, leave facility transport facility etc. then based on data tables are drawn. The percentage as a tool for analyzing the data wherever necessary charts are drawn based on inference, finding, suggestion and conclusion are also pointed out.

OBJECTIVE OF THE STUDY

PRIMARY OBJECTIVE 1) To study the employee satisfaction employed in ICICI prudential.

SECONDARY OBJECTIVES 1) To know the satisfaction level of employees on current job 2) To know the benefits provided by the organization to employees 3) To find out the relationship between employees and management

SCOPE OF THE STUDY

This study covers about employees satisfaction in ICICI Prudential Life Insurance The study helps to know about the Employee Management Relationship The study provides to know several benefits like increments and overtime payment.

LIMITATIONS OF THE STUDY

The time given was limited to 90 days and hence could not able to know about the other departments. The sample is limited only to 100 respondents. During the working hours, it is very difficult to collect the datas from the employees.

11

CHAPTER II

COMPANY PROFILE

COMPANY PROFILE
The Indian insurance industry was under state control with no private participation till the late 1990s. it was virtually ruled by the LIC in the insurance market and GIC and its four subsidiaries in the non insurance market. In the early 1990s, there was major shift in the macroeconomic policies of the Indian government due to two major developments.

For the above reasons, the Indian government set up the " Malhotra Committee" in 1993, to suggest reforms in the insurance industry. The committee submitted its report in 1994, and its strongly recommended private participation in the industry.

After prolonged discussions and debates, the insurance sector was opened up in 1999, when IRDA bill was passed. As per the bill, the IRDA became the regulatory authority for the insurance sector in India. It had the power to grant license to foreign players to operate in India, and to formulate operational rules and regulations for working of insurance companies. IRDA also prepared the guidelines for foreign participation in the Indian insurance market. According to these guidelines, foreign players were initially permitted to enter India through partnership ventures with a partnership share of 26% or less, in both the life insurance and general insurance business.

13

ICICI prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse and prudential PLC, a leading in4ernatio.al financial services group headquartered in the United Kingdom, ICICI Prudential was amongst the first private sector insurances companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA)

ICICI Prudential equity base stands at Rs 9.25 billion with ICICI Bank and Prudential PLC holding 74% and 26% stake respectively. In the period AprilDecember 2004, the company garnered Rs 8.6 billion of new business premium for a total sum assured of over Rs 73.6 billion and wrote nearly 345,000 policies. The company has a network of over 50,000 advisors; as well as 7 bank assurance tieups. Today, ICICI Prudential has emerged as the No.l private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life.

VISION To make ICICI Prudential the dominant life and pensions player built on trust by world- class people and service.

This we hope to achieve by: Understanding the needs of customers and offering them superior products and service Leveraging technology to service customers quickly, efficiently and conveniently

Developing and implementing superior risk management an investment strategies to offer sustainable and stable returns to our policyholders Providing an enabling environment to foster growth and learning for our employees And above all, building transparency in all our dealings.

The success of the company will be founded in its unflinching commitment to 5 Crore valuesIntegrity, Customer First, Boundary less, Ownership and passion. Each of the values describe what the company stands for, the qualities of our people and the way we work. We do believe that we are on the threshold of an exciting new opportunity, where we can play a significant role in redefining and reshaping the sector. Given the quality of our parentage and the commitment of our team, there are no limits to our growth.

PROMOTERS ICICI and Prudential came together in 1993 to form Prudential ICICI Assets Management Company, which has today emerged as one of the leading mutual funds in India. The two companies bring together two of the strongest financial service brands in Asia, known for their professionalism, excellent quality of service and long term commitment to YOU. Riding on the success of this relationship, the two companies joined hands once more in 2000, to form ICICI prudential Life Insurance, with a commitment to provide leading edge life insurance solution. ICICI Bank has 74% stake in the company, and prudential PLC has 26%.

15

ICICI BANK ICICI Bank (NYSE:IBN) is India's second largest bank with an asset base of Rs 106812 crore. ICICI Bank provides a broad spectrum of financial services to individuals and companies. This includes mortgages, car and personal loans, credit and debit cards, corporate and agricultural finance. The Bank services a growing customer base of more than 7 million customer accounts and 5 million bondholders accounts through a multi-channel access network. This includes about 450 branches and extension counters, 1675 ATM's, call centers and Internet banking

(www.icicibank.com). ICICI Bank posted a net profit of Rs 1,206 crore for the yearended march 31. 2003. ICICI Bank is the only Indian company to be rated above the county rating by international rating agency moody's and the only Indian company to be awarded an investment grade international credit rating. The Bank enjoys the highest AAA (or equivalent) rating from all leading Indian rating agencies.

Prudential PLC Established in 1848, Prudential PLC (Product Life Cycle) is a leading international financial services company in the UK, with around US$250 billion funds under management, and more than 16 million customers worldwide. Prudential has brought to market an integrated range of financial services products that now includes life assurance, pensions, mutual funds, banking, investment management and general insurance. In Asia, Prudential is UK's largest life insurance company with a vast network of 22 life. and mutual fund operations in twelve countries china, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam. Since 1923, Prudential has championed customercentric products and services, supported by over 60,000 staff and agents across the region.

DISTRIBUTION ICICI Prudential has one of the largest distribution networks amongst private life insurers in India, having commenced operations in 69 cities and towns in India. These are Agra, Ahmedabad, Ajmer, Allagabad, Arnristar, Aurangabad, Bangalore, Bareilly, Bhatinda, Bhopal, Bhubhaneshwar, Calicut, Chandigarh, Chennai,

Coimbatore, Dehradun, Durgapur, Faridsabad, Goa, Guntur, Gurgaon, Guwahati, Gwalior, Hyderabad, Hubli, Indore, Jaipur. Jalandhar, Jamnagar, Jamshedpur, Judhpur, Kanpur, Karnal, Kochi, Kolkata, Kolhapur, Kota, Kotatamyam, Lucknow, Ludhiana, Madurai, Mangalore.

Meerut, Mumbai, Mysore, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune, Raipur, Rajkot, Ranchi, Rourkela, Salem, Siliguri, Surat, thane, Trichy. Trivandrum, Udaipur, Vadora, Vapi, Varanasi, Vashi, Vijayawada and Vizag.

The company has seven bank assurance tie-ups, having agreements with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank and some co-operative banks, as well as over 160 corporate agents and brokers. It has also tied up with organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially and economically underprivileged sections of society. ICICI Prudential has recruited and trained about 50,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of the art IT infrastructure to provide superior quality of service to customers.

17

BOARD OF DIRECTORS The ICICI Prudential Life Insurance Company Limited Board comprises reputed people from the financial industry both from India and abroad. Mr. K.V.Kamath, Chairman Mr. Mark Norbom Mrs. Lalita D. Gupte Mrs. Kalpana Morparia Mrs. Chanda Kochhar Mr. Kevin Holmgren Mr. M.P. Modi Mr. R Narayanan Ms. Shikha Sharma, Managing Director Management team Ms. Shikha Sharma, Managing Director Mr. Sandeep Batra, Chief Financial Officer & Company Secretary Mr. Shubhro J. Mitra, Chief Human Resources Mr. Puneet Nanada, Head Investments Ms. Anita Pai, Chief Customer Service and Operations Mr. V. Rajagopalan, Appointed Actuary Mr. Shridhar Sethutam, Chief Strategy Mr. Dipan Bhattacharya Chief Information Technology

CHAPTER III

REVIEW OF LITERATURE

REVIEW OF LITERATURE
Insurance: Conceptual frame work Since mans life is open to risk of various kinds and degrees, which involves exposure to loses, the scheme for dealing with some of these risks have been advised. This is known as insurance

Insurance, in law and business, is a contractual agreement that provides for compensation by an insurer to an insured party for loss resulting from a possible event. The insurer conducts its operations amazing relatively small contributions from many persons who are exposed to the risk of occurrence of an unforeseen even in order to create a fund that is used reimburse those insured who actually suffered from such an occurrence. The contributions of the policy holders are called premium.

An insurance contract must of an element of contingency, that is, the event insured against must be possible but not certain to occur in a given period of time and must be substantially beyond the control of either insured or insurer. In addition to the requirement that the risk be one who would suffer a material loss by the happening of the event.

Different authors have defined the term insurance differently. Some of the popular definitions are:

Dr. W. A. Diadle: Insurance is a device for the transfer of the risk of the individual entries to an insurer, who agrees for a consideration (called premium), to assume to a specified extend loses sufficient by the assured.

Prof.H.D. Hansell: A social device providing of financial compensation for the efforts of misfortune, the payment being made for the accumulated contributions of all participating the same.

The basic concept of insurance is simple. The policy holder pays a premium to the insurer, who in turn return, promises to pay compensation, in the form of sum insured, if the event insured against the happens. Premium paid by all policyholders go in to a pool or fund run by the insurance company from which claims are paid. The cost of insurance cover, no matter what being insured, will depend upon the risk involved the greater the likelihood of a claim being made the higher the premium. So the risk that each policyholder brings to the fund is reflected in the premium the pay.

21

CHAPTER IV

RESEARCH METHODOLOGY

RESEARCH METHODOLOGY
Research Design : Descriptive Non probability & Convenience sampling Chennai. 100 Questionnaires

Survey Technique : Sample Area Sample Size Data : : :

DATA COLLECTION METHODS Primary data: These are the information gathered from the respondents using

questionnaires. These are the information gathered for the specific purpose and do not exist in any records or publications.

Therefore for the primary information the researcher had undergone fieldwork for this particular study and has collected the intended information from the customers.

Secondary data: The secondary data refers to those, which have already gathered by some person for some other person for some other purposes. And also from the company's record. For this particular study the researcher has gathered information from the company report ,business magazines and from internet.

23

SURVEY TECHNIQUE Structure questionnaire: The survey is done with the help of well-structured questionnaires for the customers.

Research Design: Research is the plan, structure and the strategy of investigation conceived so as to obtain answers - to research question and to control the variance. This definition consists of three important terms plan, structure and strategy. The plan is the outline of the research scheme on which the researcher is to work. The structure of the research is more specific outline and the strategy shows how the research will be carried out, specifying the methods to be used in the collection and analysis of data.

Research Design Types The frequently used classification system in research is grouping under three broad categories. Descriptive research. Exploratory research. Casual research.

Descriptive Research: Descriptive research is marked by prior formulations of specific research questions. The investigator already knows a substantial amount about the research problems before the project is initiated.

Exploratory Research: This type of study is used to probe the existing problem. The major purposes of exploratory research is to solve-the existing problems. The more precise formulation problems and the formulation of new alternative course of action.

Causal Research: This type of study aims or determining the causes involved to the problem. From among the three above types of research design the researcher has selected the descriptive research for carrying out the research.

Sampling Plan While doing a research it might not be possible to interview all the customers of insurance industry. There fore, the researcher has some method of selecting the sample, which represents the universe selected for the survey. The sample should have to resemble the universe chosen for the research both in terms of their characteristics as well as location.

Sampling Methods There are two main categories under which various sampling methods can be put into. Probability sampling. Non-probability sampling.

25

Probability Sampling: In this the sample are chosen in such a way that each member of the universe has known chance to being selected. Probability sampling is classified into four types. Simple Random Sampling. Stratified Sampling. Cluster Sampling. Systematic Sampling.

Simple Random Sampling: In a simple sampling a selection tool frequently used with this design in the table of random numbers. Systematic Sampling: In a systematic sampling the number are chosen in a systematic manner from the entire population. Stratified Sampling: In a stratified sampling the universe are divided in to strata on the basis of recognizable or measurable characteristics of its members i.e., age. income, education etc. Cluster Sampling: In a cluster sampling the various units comprising the population are grouped in cluster and the sample selection is made in such a way that each cluster has a known of being selected.

Non-Probability Sampling: Non-probability sampling is defined, as the type of sampling in which there exists a chance of any particular unit in the population of being selected is unknown. It is classified in to three types. Judgement sampling. Convenience sampling. Quota sampling.

Judgement Sampling: Person knowledge about the population under study chooses sample members that the researcher feels would be most appropriate for the study.

Convenience Sampling: In this method, the sample units are chosen primarily on the basis of the researchers convenience.

Quota Sampling: In quota sampling the method is similar to the one adopted in the stratified sampling. The universe is divided in to strata on the basis of characteristics of the population. The sample units are chosen so that each stratum represents proportion to its importance in the population.

The researcher has used descriptive research, non probability sampling and convenience sampling.

27

Questionnaire Design: The researcher is motivated to construct a questionnaire, which he finds that the information he needs is not in the secondary source.

Types of Questions: After specifying the information needed, the researcher has decided the type of the questions required to be asked from the respondents, to elicit this information.

Direct Questions Direct questions are just what their name, age and sex are. They explicate for the information desired.

Indirect Questions Indirect question refers to those whose response are used or suggest the information, other than the facts given in the answers, about the respondent. Openend questions

Open-end questions that has no fixed alternatives to which the answers must conform. The respondent answers in his or her own words and at any length they choose.

Closed End Questions Close end question also has no fixed alternative question from which respondent has to select the one that closely matches his opinion or attitude. Dichotomous questions

A dichotomous question refers to one, which offers the respondent a choice between only two alternatives. The fixed alternatives are of the type yes or no.

Multiple Questions A multiple-choice question refers to one, which provides several sets of alternatives for the respondent's choice.

Chi-Square Analysis Chi Square is applied in statistics to test the significance of observed data with theoretical distribution. (O E)2 E

2 = Where O= E=

Observed frequencies Expected frequencies

29

CHAPTER V

DATA ANALYSIS AND INTERPRETATION

CHI-SQUARE
FORMULAE

(Row total for the row of that cell) x (Column total for the column of that cell) 1) Expected frequency = Grand Total (Oi-Ei)2 2) Find the summation of = Ei (total) DIFFERENCE BETWEEN AGE GROUP AND FIRST AID FACILITY OF EMPLOYEES. H0 There will be no significant difference between age group and first-aid facility of employees. H1 There will be significant difference between age group and first-aid facility of employees.

Chi Square Table 1

Age Group Yes 20 25 25 30 30 35 35 above Total 12 33 23 18 100

First aid Facility No 3 2 4 5 100 35 27 23 100 100 Total 15

31

Chi Square Table 2

O
12 33 23 18 3 2 4 5

E 12.90 30.1 23.22 19.78 2.1 4.9 3.78 3.2 0.062 0.279 0.002 0.159 0.385 1.716 0.012 1.012

(O- )2 / 100

E = 100
Degree of freedom = d = (c 1) (r 1) = (2 1) (4 1) =1x3 =3 Calculated value Tabulated Value Level of significance = 3.627 = 7.21 = 5%

100

Inference: Since calculated value of Chi-Square is less than tabulated value. we accept the Null hypothesis. Hence we conclude there is no significant relationship between level of age group and first-aid facility.

TABLE 1
GENDER CLASSIFICATION

Percentage of S.No. Gender No. of Respondents Respondents

1.

Male

84

84

2.

Female

16

16

Total

100

100

Inference: From the above table shows that the majorities of respondents 84%of the employees to male category and 16% belongs to female category.

33

CHART 1
GENDER CLASSIFICATION

100 90 80 No. of Respondents 70 60 50 40 30 20 10 0 Male Particulars Female 16 84

TABLE 2
AGE CLASSIFICATION S.No. 1. 2. 3. 4. Age 20 25 25 30 30 35 35 & Above Total Inference: From the above table 15% of them belongs to 20 25 age, then 35% of them belongs to 25 30 age, then 27% of them belongs to 30 35 age and 23% of them belongs to 35 & above. No. of Respondents 15 35 27 23 100 Percentage of Respondents 15 35 27 23 100

35

CHART 2
AGE CLASSIFICATION 100 90 No. of Respondents 80 70 60 50 40 30 20 10 0 20 - 25 25 - 30 30 - 35 35 & Above Particulars 15 35 27 23

TABLE 3
YEARS OF EXPERIENCE Percentage of Respondents 5 15 45 15 20 100

S.No. 1. 2. 3. 4. 5.

Response 0 1 year 1 3 years 3 5 years 5 7 years 7 years above Total

No. of Respondents 5 15 45 15 20 100

Inference: From the above table 5% respondents belongs to 0 1 year experience, 15% of them have 1 to 3 years of experience, 45% of them have 3 5 years of experience, 15% respondents have 5 7 years of experience and 20% of respondents have 7 and above years of experience.

37

CHART 3
YEARS OF EXPERIENCE 100 90 80 70 60 50 40 30 20 10 0

No. of Respondents

45 20

15 5 0 1 year 1 3 years 3 5 years Particulars

15

5 7 years

7 years above

TABLE 4
SALARY PACKAGE OF THE EMPLOYEES No. of Respondents 25 55 10 Percentage of Respondents 25 55 10

S.No.

Response

1. 2. 3.

65,000 75,000 75,000 1,00,000 1,00,000 1,25,000 1,25,000 and above Total

4.

10

10

100

100

Inference: From the above table 25% of respondents are getting 65,000 75,000 of salary package, 55% of respondents are getting 75,000 1,00,000, 10% of respondents are getting 1,00,000 1,25,000, and 10% of respondents are getting 1,25,000 and above of salary package per annum.

39

CHART 4
SALARY PACKAGE OF THE EMPLOYEES

100 90 80 70 60 50 40 30 20 10 0 65,000 75,000 75,000 1,00,000 1,00,000 1,25,000 1,25,000 and above 25 10 10 55

No. of Respondents

Particulars

TABLE 5
SATISFACTION LEVEL OF CURRENT SALARY Percentage of Respondents 20 63 13 4 100

S.No. 1. 2. 3. 4.

Response Highly satisfied Satisfied Dis satisfied Highly dissatisfied Total

No. of Respondents 20 63 13 4 100

Inference: From the above table 20% of respondents are highly satisfied with their current salary, 63% of respondents are satisfied and 13% of respondents are dissatisfied and 4% of respondents highly dissatisfied with their current salary.

41

CHART 5
SATISFACTION LEVEL OF CURRENT SALARY
100 90 80 No. of Respondents 70 60 50 40 30 20 10 0 Highly satisfied Satisfied Dis satisfied Highly dissatisfied 20 13 4 63

Particulars

TABLE 6
CO OPERATION OF COLLEGUES Percentage of Respondents 62 38 100

S.No. 1. 2.

Response Yes No Total

No. of Respondents 62 38 100

Inference: From the above table 62% of respondents are saying yes their colleagues are co-operative, 38% of respondents says No i.e. the colleagues are not cooperate with them.

43

Chart 6
CO OPERATION OF COLLEGUES

38 Yes No 62

TABLE 7
EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY

S.No. 1. 2.

Response Yes No

No. of Respondents 86 14 14

Percentage of Respondents 86

Total
Inference:

100

100

For the above it is clear the 86% respondents say Yes and 14% respondents say No.

45

CHART 7
EMPLOYEES OPINION TOWARDS FIRST-AID FACILITY

14

Yes No

86

TABLE 8
SATISFACTION LEVEL OF JOB SECURITY No. of Respondents 21 43 24 12 100 43 24 12 Percentage of Respondents 21

S.No. 1. 2. 3. 4.

Response Highly satisfied Satisfied Dissatisfied Highly dissatisfied Total

100

Inference: From the above table 21% of respondents are highly satisfied with the job security, 43% of respondents are satisfied and 24% of respondents are dissatisfied and 12% respondents are highly dissatisfied with the job security.

47

CHART 8
SATISFACTION LEVEL OF JOB SECURITY

100 90 80 No. of Respondents 70 60 50 40 30 20 10 0 Highly satisfied Satisfied Dissatisfied Highly dissatisfied 21 43 24 12

Particulars

TABLE 9
SATISFACTION LEVEL ON PRESENT JOB Percentage of Respondents 30 43 13 14

S.No. 1. 2. 3. 4.

Response Highly satisfied Satisfied Dissatisfied Highly Dissatisfied

No. of Respondents 30 43 13 14 100

Total
Inference:

100

From the above table 30% of respondents are highly satisfied with their present job, 43% of respondents are satisfied and 13% of respondents dissatisfied and 14% of respondents are highly dissatisfied with their present job.

49

CHART 9
SATISFACTION LEVEL ON PRESENT JOB

100 90 No. of Respondents 80 70 60 50 40 30 20 10 0 Highly satisfied Satisfied Dissatisfied Highly Dissatisfied 30 43 13 14

Particulars

TABLE 10
PREFERENCE ON SUPERVISION OF JOB Percentage of Respondents 37 40 10 13 100

S.No. 1. 2. 3. 4.

Response Very good Good Average Bad

No. of Respondents 37 40 10 13 100

Total
Inference:

From the above table 37% of respondents says very good for supervision on job, 40% of respondents says good, 10% of respondents says average and 13% of respondents says bad for supervision on job.

51

CHART 10
PREFERENCE ON SUPERVISION OF JOB

100 90 80 No. of Respondents 70 60 50 40 30 20 10 0 Very good Good Particulars 37 40 10 Average 13 Bad

TABLE 11
TREATING OF MANAGEMENT TOWARDS EMPLOYEES

S.No. 1. 2. 3. 4.

Response Very good Good Average Bad

No. of Respondents 38 23 25 14 14

Percentage of Respondents 38 23 25

Total
Inference:

100

100

From the above table 38% of respondents says very good for treating towards employees, 23% of respondents says good, 25% of respondents says average and 15% of respondents says bad for treating of management towards employees.

53

CHART 11
TREATING OF MANAGEMENT TOWARDS EMPLOYEES 100 90 80 No. of Respondents 70 60 50 40 30 20 10 0 Very good Good Average Bad Particulars 38 23 25 14

TABLE 12
EMPLOYEES OPINION ON INCREMENT

S.No.

Response

No. of Respondents

Percentage of Respondents 67 33 100

1. 2.

Yes No

67 33

Total
Inference:

100

From the above 67% of respondents says Yes organization pays increment for their job. And 33% of respondents says No i.e. organization does not pay any increment for their job.

55

CHART 12
EMPLOYEES OPINION ON INCREMENT
No. of Respondents

No 33% Yes 67%

TABLE 13
EMPLOYEES OPINION FOR OVERTIME PAYMENT

S.No.

Response

No. of Respondents 73 27 27

Percentage of Respondents 73

1. 2.

Yes No

Total
Inference:

100

100

From the above table 73% of respondents say Yes the organization is having overtime payment for extra work. And 27% of respondents say No i.e. the organization is not having overtime payment for extra work.

57

CHART 14
EMPLOYEES OPINION FOR OVERTIME PAYMENT
No. of Respondents

No 27%

Yes 73%

TABLE 14
RESPONDENTS OPINION ON RETIREMENT BENEFITS

S.No. 1. 2. 3. 4.

Response Very Good Good Average Bad

No. of Respondents 27 26 28 19 26 28 19

Percentage of Respondents 27

Total
Inference:

100

100

From the above 27% of respondents says very good towards retirement benefit, 26% of respondents says good, 28% says average and 19% of respondents says bad towards retirement benefits.

59

CHART 14
RESPONDENTS OPINION ON RETIREMENT BENEFITS
100 90 80 70 60 50 40 30 20 10 0 Very Good Good Average Particulars

No. of Respondents

27

26

28 19

Bad

TABLE 15
PREFERENCE FOR CHILDREN EDUCATION FACILITY

S.No.

Response

No. of Respondents 48 52 52

Percentage of Respondents 48

1. 2.

Yes No

Total
Inference:

100

100

From the above table 48% of respondents says Yes the organization is providing children education facilities, and 52%of respondents says No, i.e. the organization is not providing children education facilities.

61

CHART 15
PREFERENCE FOR CHILDREN EDUCATION FACILITY

Yes No 48 52

TABLE 16
REGARDING TO EMPLOYEES SATISFACITON

S.No. 1. 2. 3. 4.

Response Highly Satisfied Satisfied Dissatisfied Highly Dissatisfied

No. of Respondents
34 31 20 15 100 31 20 15

Percentage of Respondents 34

Total
Inference:

100

From the above table 34% of respondents are highly satisfied considering everything regarding employees satisfaction, 31% of respondents are satisfied and 20% of respondents are dissatisfied 15% of respondents are highly dissatisfied considering everything regarding employees satisfaction.

63

CHART 16
REGARDING TO EMPLOYEES SATISFACITON

100 90 80 70 60 No. of 50 Respondents 40 30 20 10 0

34

31 20 15

Highly Satisfied

Satisfied Dissatisfied Particulars

Highly Dissatisfied

CHAPTER VI

FINDINGS

FINDINGS
84% of respondents belongs to male category 35% of respondents belongs to 25 30 age group 55% of respondents are getting 75,000 1,00,000 of salary package per annum. 63% of respondents are satisfied with their current salary. 62% of respondents are told that their colleagues are co-operative with them 43% of respondents are satisfied with job security 43% of respondents are satisfied with their present job 40% of respondents says feel that the job supervision is good for supervision on job. 38% of respondents says that the organization treating the employee in very good manner. 67% of respondents says that the organization pays increment for their job. 86% of respondents says that they have first aid facility 73% of respondents told that the organization is having overtime payment for extra work. 28% of respondents says that average towards retirement benefits 52% of respondents says that i.e. the organization is not providing children education facilities. 34% of respondents says that they are highly satisfied considering everything regarding employees satisfaction.

CHAPTER VII

SUGGESTIONS

SUGGESTIONS
The organization must provide good retirement benefits The overtime payment is motivating the employees in the organization The organization must provide children educational facilities Management employees relation must be improved

CONCLUSION
To summarize or to conclude the whole research process on employees satisfaction done or performed by the researcher had been inferred that the employees satisfaction level within employees in ICICI Prudential should be still improved to the maximum at all levels such as creating recreation facilities, first aid facilities, conducting training program and all such that benefits the company regarding that they would be somewhat satisfied with their work. The lower-level employees in the company are mostly illiterate and they have only the knowledge of performing one specific job delegated to them. Therefore the employees should be still trained in other works in the company to increase the productivity. This study mostly covers all the information about the employees satisfaction models in the company. By the information from the above research, the satisfaction level of the employee is not up to the expected level.

69

BIBLIOGRAPHY

BOOKS Memoria.C.B., Personal Management, Mumbai, Himalaya Publishing House, 2000. Tripathy P.C., Personal Management and Industrial Relations, New Delhi, Sulthanchand and Sons, 1996, 12th Edition. Subba Rao.P., and Rao V.S.P. Personal Resource Management, New Delhi, Konark Publishers Private Limited, Jan, 1992, 2nd Edition. Kothari.C.R. Research Methodology New Delhi Wishwa Prakasam Publishers, 1992, 2nd Edition.

Websites: www.irda.com www.iciciprulife.com www.google.com

APPENDIX

QUESTIONNAIRE
Name 1. Gender 2. Age : : a) M a) 20 25 b) F b) 25 30 c) 30 35 d) 35 & above

3. Years of experience in ICICI prudential a) 0 1 years d) 5 7 years b) 1 3 years e) 7 years above c) 3 5 years

4. What salary package you are getting per annum? a) 60,000 75,000 c) 1,00,000 1,25,000 b) 75,000 1,00,000 d) above 1,25,000

5. Are your satisfied with your current salary? a) Highly satisfied c) Dissatisfied b) Satisfied d) Highly dissatisfied

6. Are your colleagues are co-operative with you? a) Yes b) No

7. Are you having First Aid facility? a) Yes b) No

8. Are you satisfied with your job security? a) Highly satisfied c) Dissatisfied b) Satisfied d) Highly dissatisfied

9. Are you satisfied with your present job? a) Highly satisfied c) Dissatisfied b) Satisfied d) Highly dissatisfied

10. How do you feel about the supervision in your job? a) Very Good c) Average b) Good d) Bad

11. How the management treating you? a) Very Good c) Average b) Good d) Bad

12. Are you paid any increment for your job? a) Yes b) No

13. Is the organisation having any over time payment for your extra work? a) Yes b) No

14. How do you feel with regard to retirement benefits like pension and other benefits. a) Very Good c) Average b) Good d) Bad

15. Is the organization providing children educational facilities? a) Yes b) No

16. Considering everything how satisfied are you regarding employees satisfaction? a) Highly satisfied c) Dissatisfied b) Satisfied d) Highly dissatisfied

17. Comments on employees satisfaction ..

73