SYNOPSIS ON

“Study of Employees’ Satisfaction Level in

HDFC Standard Life Insurance Company”

Research Supervisor & Guide

Dr.Ashish Mishra
HOD, Deptt of Management Studies,
Takshshila Institute of Engineering & Technology,
Jabalpur (MP)
Submitted by

Lt Santosh Singh
(Roll No- 08D-041)

Submitted to-
REGISTRAR
College of Material Management (CMM)
Rani Durgavati University, Jabalpur (MP)
 CERTIFICATE

This is hereby certified that Lt Santosh Singh S/o Shri.

Bharat Singh is regular student of MBA (DLP) Course of College of
Material Management, Jabalpur and he has prepared this Project
under my guidance which is according to the curriculum of College of
Material Management & Rani Durgavati Vishwa-Vidyalaya, Jabalpur.

The Roll No. of student is 08D-41 & Enrollment No -

AY/10956.

Date: ___________ ________________

Dr. Ashish Mishra

Guide, Co-ordinator & Faculty

College of Material Management

Jabalpur (M.P)
 CLERATION

I hereby declare that, this Project has been prepared by me

which is in accordance to the curriculum of College of Material
Management & Rani Durgavati Vishwa-Vidyalaya, Jabalpur. All the
information provided is true to my knowledge. I am obliged to my
Guide, Co-ordinator & Faculty Dr. Ashish Mishra of College of
Material Management, Jabalpur who had guided me.

Date: _______ _________________

Place : Jabalpur (MP) Name: Santosh Singh

Roll No: 08D-41

Enrolment No: AY/10956

 ACKNOWLEDGEMENT

I, take this opportunity to express my sincere gratitude to

those who helped me in innumerable way. Most importantly, my
efforts would not have been equal to this task had they not been
generously, encouraged & understood by the faculty members of our
college.

Also wish to thanks profusely to Guide, Co-ordinator &

Faculty Dr. Ashish Mishra of College of Material Management,
Jabalpur for providing assistance in successful completion of my
Project with my vagaries of demand, patiently & smilingly.

Date: _______ _________________

Place : Jabalpur (MP) Name: Santosh Singh

Roll No: 08D-41

Enrolment No: AY/10956

 SYNOPSIS

“Study of Employees’ Satisfaction Level in HDFC Standard Life

Insurance Company”
Introduction :-

HDFC Incorporated in 1977 with a share capital of Rs 10 Crores, HDFC has since
emerged as the largest residential mortgage finance institution in the country. HDFC - A
pioneer and leader in housing finance in India, since inception, HDFC has assisted more than
3.5 million families to own a home of their own, through cumulative housing loan approvals
of over Rs. 2.98 trillion and disbursements of over Rs. 2.42 trillion as at March 31, 2010.

Standard Life is Europe’s largest mutual life assurance company. Standard Life, which
has been in the life insurance business for the past 175 years is a modern company surviving
quite a few changes since selling its first policy in 1825. The company expanded in the 19th
century from kits original Edinburgh premises, opening offices in other towns and acquitting
other similar businesses. Standard Life currently has assets exceeding over 70 billion euros
under its management and has the distinction of being accorded “AAA” rating consequently
for six years by Standard and Poor.
HDFC SLIC was incorporated on 14th August 2000. HDFC is the major stakeholder in
insurance with 81.4% staple and Standard Life has a staple of 18.6%. Mr. Amitabh Chaudhry
is the present MD and CEO of the venture.
HDFC SLIC is India’s one of the leading private life insurance companies, which offers a
range of individual and group insurance solutions. It is a joint venture between HDFC, India’s
leading housing finance institution and the Standard Life Assurance company, a leading
provider of financial services from the United Kingdom.
The proposed study involves an analysis and evaluation of the human resource
practices in HDFC SLIC including employee satisfaction.
Objectives of the Study :-
The primary objective is study of employees’ satisfaction level in HDFC SLIC. In the
light of this primary objective the following sub-objectives have been set.

(i) To review the historical aspects of HDFC SLIC and its growth.
(ii) To know the position of the Insurance industry as a whole in the world as
well as in INDIA.
(iii) To identify the satisfaction level of employees in HDFC SLIC.
 (iv) To assess the purpose and uses of HR practices.
(v) To study and analyze the further steps taken after doing the HR practices
for the employees in HDFC.
(vi) To evaluate various techniques or operations followed in this regard to
understand whether the performance appraisal has any influence in
promoting and upgrading the employees.
(vii) To know how mutuality it will increase and strengthen the relationship
between each employee and his superiors.
(viii) To study and ensure that after doing appraisal for employees give a
desired level of performance by attaching rewards and punishment for
variation in performance levels.
Scope of the study :-
(i) The study covers the various aspects of Human Resource Management
which helps in determining the performance appraisal system in the
organization.
(ii) The study of "employee satisfaction" helps the company to maintain
standards & increase productivity by motivating the employees.
(iii) This study tells us how much the employees are capable & their interest
at work place. What are the things which make employee satisfy?
(iv) Human resources are the most important resources for any organization,
so to study on employee’s satisfaction helps to know the working
conditions & what are the things that affect them not to work properly?
(v) The study of employee satisfaction is necessary to improve retention
rate.
[

Research Methodology :-
The research process will be clearly defined to meet the objectives of the study.
The logical analysis of the various aspects of the data shall be made arrive at the result of the
study. The research shall include the following aspects of the research process :-
(i) Defining the problem.
(ii) Statement of research objective.
(iii) Planning the sample.
(iv) Collection of data.
(v) Analysis of data.
(vi) Formulation of data.
Sample Size - The sample size is 100 in different branches of HDFC SLIC.
Sample Unit - A employee in the HDFC SLIC is considered as a sample in the
project.
Sample Method - The sample selected is the convenient sample and is
representative of the total sample frame.
Area of Study - HDFC SLIC.
Data Collection :- The data will be collected from the primary and secondary sources.
Primary data will be collected by interview with the questionnaires. Secondary data will be
collected from books, magazines, web sites, etc.
Limitations of the Study :-
(i) The sample procedure used being the convenient sample, the analysis and
finding may lack accuracy.
(ii) The sample size is not very large owing to time constraint. This may affect
accuracy.
(iii) There is a chance of respondent being biased in terms of procedural
characteristics.
Expected results from the Study :- The study will generate the following results :-
(i) It would identify the scope of improvement in HR practices being followed in
HDFC SLIC.
(ii) The need for innovation and motivation in the form of incentives will be
searched out.
(iii) Involvement of both the organization and the participants/employees relating
to HR practices and its effectiveness will be emphasized.
Bibliography :-
(i) Kothari.R. “Research Methodology – Methods and Technique” New Age
International Publishers,2nd edition.
(ii) Aswathappa K, “Human Resource Management”, Tata McGraw-Hill Companies,
New Delhi,5th edition.
(iii) Robbins Stephen, “Essentials of Organizational Behavior”, Prentice Hall New
Delhi,12th edition.
(iv) Crish Sharma, “ Human Resource Management – A Strategic Approach to
Employment”, P.X. Contemporary Business Series.
(v) Charles R. Greer, “Strategic Human Resource Management”, Pearson Education
Asia.
Webliography :-

 www.search.ebscohost.coms
 www.wikipedia.com
 www.hrblog.com
 www.humanresource.hrvinet.com
 www.economictimes.com
 www.mumbaimirror.com
 www.hdfc.com
 www.hdfcinsurance.biz