A

PROJECT REPORT
ON
“EMPLOYEE MOTIVATION
AT BAJAJ ALLIANZ INSURANCE”
A Dissertation submitted in partial fulfillment of the academic
requirements for the award of the degree of
“BACHELOR OF BUSINESS ADMINISTRATION”
SUBMITTED BY
______________________
_________
Under the Esteemed Guidance of

1
 CONTENT PAGE

CH. NO. PARTICULARS PAGE

NO.
CHAPTER -1 INTRODUCTION 5-8

NEED &IMPORTANT OF THE STUDY 9

OBJECTIVES OF THE STUDY 10

SCOPE OF THE STUDY 11
RESEARCH METHODOLOGY 12

LIMITATIONS OF THE STUDY 13

15-20
COMPANY PROFILE
CHAPTER -2
21-30
INDUSTRY PROFILE

CHAPTER -3 31-42
LETERATURE REVIEW
CHAPTER-4 43-80
DATA ANALYSIS & INTERRETATION OF
THE STUDY
CHAPTER -5 81-83
FINDINGS OF THE STUDY
SUGGESTIONS
CHAPTER- 6 84
CONCLUSIONS
85
BIBLIOGRAPHY

ANNEXURE 86-87

2
 ABSTRACT
Employee motivation shall be defined by Robbins (as cited in Ramlall, 2004) as: “the
willingness to exert high levels of effort toward organizational goals, conditioned by the
effort’s ability to satisfy some individual need.” To engage in the practice of motivating
employees, employers must understand the unsatisfied needs of each of the employee
groups. This study desires to provide practitioners in the restaurant industry the ability to
recognize motivators for these different employment groups and their relationship to
organizational commitment. The restaurant industry consists of two types of employees:
salaried and hourly. This study focuses on hourly employees, and their subdivision: tipped
employees. For the purpose of this research hourly employees shall be defined as
employees that depend on their hourly wage as their main source of income and tipped
employees shall be defined as employees that depend on the receipt of tips as their main
source of income. The purpose of this study desires to provide practitioners in the
restaurant industry a comparison and analysis of employee motivation between the two
employment groups and their level of organizational commitment. After formulating a
thorough research review, a questionnaire instrument was assembled. The sample for this
study was a convenience sample consisting of 104 restaurant hourly tipped and non-tipped,
front of the house personnel employed in a single branded, national restaurant chain located
in the metropolitan area of Orlando, Florida. The research instrument was a survey
questionnaire instrument comprised of three sections: 1.) twelve motivational factors
derived from Kovach (1995), 2.) nine questions from the reduced OCQ from Mowday,
Steers, and Porter (1979), and a section iv concerning demographic information of gender,
age, race, education level, marital status, job type and tenure in the industry

3
 CHAPTER: 1
INTRODUCTION

4
 INTRODUCTION
Human beings are a resource to an organization. Like another resource they

represent an investment whose development and utilization require proper managing. There

is a fundamental trust the people are organization’s most important assets.

Performance results from the interaction of physical, financial and human

resource. The first two are inanimate; they are translated into “productivity” only when

human element is introduced. In dealing with employees, however an intangible factor of

will, violence or freedom of choice is introduced, and workers can increase or decrease

their productivity as they choose. This human quality gives rise to need for motivation.

Motivation is one of the most important factors affecting human behavior.

Motivation not only affects other factors like perception and Learning but also affect the

total performance of an individual in organizational setting. This is the reason why

managers attach great importance to motivation in an organization.

At one time, employees were considered just another input into the production of

goods and services. What perhaps changed this way of thinking about employees was

reached, referred to as the Hawthorne studies, conducted by Elton Mayo from 1924 to

1932(Dickson, 1973). This study found employees are not motivated solely by money and

employee behavior is linked to their attitudes (Dickson, 1973)

The Hawthorne studies began the human relations approach to management,

where by the needs and motivations of employees become the primary focus of managers

(Bedeian, 1993).

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 RESEARCH PROBLEM

The research problem in this study is associated with the motivation of employees

of BAJAJ ALLIANZ INSURANCE. There are a variety of factors that influence a person’s

level of motivation. Some of these factors include

1. The pay and benefits

2. The perceived fairness of promotion system within a company

3. Quality of the working conditions

4. Leadership and social relationships

5. Employee recognition

6. Job security

7. Career development opportunities etc.

motivated employees are a great asset to any organization. It is because the

motivation and Job Satisfaction is clearly linked. Hence this study is focusing on the

employee motivation in the organization.

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 NEED & IMPORTANCE OF THE STUDY

The study is intended to evaluate motivation of employees in the organization. A

good motivational program is essential to achieve goal of the organization. If efficient
motivational programmes of employees are made not only in this particular organization
but also any other organization. The organizations can achieve the efficiency also to
develop a good organizational culture.
Motivation has variety of effects. These effects may be seen in the context of an
individual’s physical and mental health, productivity, absenteeism and turnover. Employee
delight has to be managed in more than one way. This helps in retaining and nurturing the
true believers.
This study helps the researcher to realize the importance of effective employee
motivation. This research study examines types and levels of employee motivational
programs and also discusses management ideas that can be utilized to innovate employee
motivation. It helps to provide insights to support future research regarding strategic
guidance for organizations that are both providing and using reward/recognition programs.

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 OBJECTIVES OF THE STUDY

1. To analyze and examine the effectiveness of Motivation Programmes in

BAJAJ ALLIANZ INSURANCE.

2. To study the effect of monetary and non-monetary benefits provided by the

organization on the employee’s performance.

3. To study the effect of job promotions on employees.

4. To study the employee’s opinion on the Motivation in BAJAJ ALLIANZ

INSURANCE.

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 SCOPE OF THE STUDY

1. The study is aimed at finding out the employees opinions of BAJAJ ALLIANZ

INSURANCE.

2. The research as taken up 50 samples for study.

3. The information obtained from the primary and secondary data was limited to

BAJAJ ALLIANZ INSURANCE.

9
 METHODOLOGY

Sample Design

A sample design is a finite plan for obtaining a sample from a given population.

Simple

Random sampling is used for this study.

Sample Size

Number of the sampling units selected from the population is called the size of the

sample. Sample of 50 respondents were obtained from the population.

Sources of Information:

The data were collected through Primary and secondary sources.

Primary Source:
The primary sources are discussion with employees, data’s collected through
questionnaire.
Secondary Source:

The secondary data mainly consists of data and information collected from records,

companywebsites and also discussion with the management of the organization. Secondary

data was also collected from journals, magazines and books.

Questionnaire:

A well defined questionnaire that is used effectively can gather information on both

overall performance of the test system as well as information on specific components of the

system. A defeated questionnaire was carefully prepared and specially numbered. The

questions were arranged in proper order, in accordance with the relevance.

Tools and Techniques:

Chi-square test is used to test the hypothesis and draw inferences

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 LIMITATIONS

The project is done for the period of 45 days the information gathered may not be

percent accurate and thus have the following limitations.

1. This study covers those employees who are working at BAJAJ ALLIANZ

INSURANCE.

2. The understand and knowledge may vary from person to person. The replied gives

by the respondents are taken for granted, though they are not uniform.

3. Since names are mentioned in most of questionnaires, most of the employees

answered favorable to the company. This might have led to wring finding in the

study.

4. The interpretation being based on percentage method is not definite.

5. The report is subjects to changes with fast changing scenario.

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 CHAPTER: 2

LITERATURE REVIEW

12
 LITERATURE REVIEW

Rensis Likerthas called motivation as the core of management. Motivation is an

effective instrument in the hands of the management in inspiring the work force .It is the

major task of every manager to motivate his subordinate or to create the will to work

among the subordinates. It should also be remembered that the worker may be immensely

capable of doing some work, nothing can be achieved if he is not willing to work .creation

of a will to work is motivation in simple but true sense of term.

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization .Issuance of well

conceived instructions and orders does not mean that they will be followed .A manager has

to make appropriate use of motivation to enthuse the employees to follow them. Effective

motivation succeeds not only in having an order accepted but also in gaining a

determination to see that it is executed efficiently and effectively.

In order to motivate workers to work for the organizational goals, the managers

must determine the motives or needs of the workers and provide an environment in which

appropriate incentives are available for their satisfaction .If the management is successful

in doing so; it will also be successful in increasing the willingness of the workers to work.

This will increase efficiency and effectiveness of the organization .There will be better

utilization of resources and workers abilities and capacities.

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The concept of motivation:

The word motivation has been derived from motive which means any idea, need or

emotion that promots a man into action. Whatever may be the behavior of man, there is

some stimulus behind it .Stimulus is dependent upon the motive of the person concerned.

Motive can be known by studying his needs and desires.

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time. In general, the different motives

operate at different times among different people and influence their behaviors. The

process of motivation studies the motives of individuals which cause different type of

behavior.

Meaning of motivation:

Motivation has been variously defined by scholars. Usually one or more of these

words are included in the definition: desires, wants, aims, goals, drives, movies and

incentives. Motivation is derived from the Latin word ‘Move on’ which means “to move”.

Human motives are internalized goals within individuals. A motive is an inner

state that energies activates, or moves and directs or channels behavior towards goals.

Definition:

Motivation is the complex forces starting and keeping a person at work in the

organization.

Motivation is the various drives within or environmental forces surrounding

individual that stimulate or attract them in a specific manner.

Motivation is the art of understanding motives satisfying them to direct and sustain

behavior towards the accomplishment of organization goals.

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1. Motivation is the process of operating organizational conditions which will impel

employees of any emotion or desire operation one’s will and prompting or driving at it

to action.

Motivation consists of the three interaction and interdependent elements of needs,

drives and goals.

Needs:

These are the deficient, and create whenever there is a physiological or

psychological imbalance.

Drive or motives:

These are set to alleviate needs. These are action oriented and provide an

energizing thrust toward goal accomplishment. They are the very heart of the motivation

process.

Goal:

Goals are anything which will alleviate a need and reduce a drive.

Nature of motivation:

Following are some of the characteristics of motivation derive from the definitions

given by various authors.

1. Based on motives: Motivation is base on individuals motive which are internal to

individual. These motives are in the form of feeling that the individual lacks something.

2. Goal directed behavior: Motivation Leads to goal directed behavior. A goal directed

behavior is one which satisfied the causes for which behavior takes place. Motivation has

profound influence on human behavior.

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3. Related to satisfaction: Motivation is related to satisfaction. Satisfaction is refers to the

contentment experiences of an individual which we derives out of needs fulfillment.

4. Complex process: Motivation is a complex process; complexity emerges because of the

nature if needs a types of behavior that need attempted to satisfied those needs.

Significance of Motivation:

Motivation involves getting the members of the group to pull weight effectively, to

give their loyalty to the group, to carry out properly the purpose of the organization. The

following results may be expected if the employees are properly motivated.

1. The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs. The workers

will cooperate voluntarily with the management and will contribute their maximum

towards the goals of the enterprise.

2. Workers will tend to be as efficient as possible by improving upon their skills and

knowledge so that they are able to contribute to the progress of the organization.

This will also result in increased productivity.

3. The rates of labor’s turnover and absenteeism among the workers will be low.

4. There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will decrease.

5. The number of complaints and grievances will come down. Accident will also be

low.

6. There will be increase in the quantity and quality of products. Wastage and scrap

will be less. Better quality of products will also increase the public image of the

business.

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Types of needs:

There are many needs which an individual may have and there are various ways in

which may be classified? Needs may be natural, biological phenomenon in an individual or

these may develop over the period of time through learning. Thus, need may be grouped

into 3 categories:

1. Primary need

2. Secondary need

3. General needs

1) Primary needs: These are also known as physiological, biological, basic, or unclear

needs. These needs are common in human beings through their intensity differs.

2) Secondary needs: As contrast to primary needs, these are not natural but are learned by

the individual through experience and interaction. Emergency of these needs depends in

learning.

3) General needs: Through a separate classification for general needs is not always given,

such a category seems necessary because there are a number of needs which lie in the grey

area between the primary and secondary needs. In fact, there are certain needs such as need

for competence, curiosity, manipulation, affection, etc.

Theories of Motivation:

Understanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra, 1979). Six major approaches that have led to our understanding of motivation are

McClelland’s Achievement Need Theory, Behavior Modification theory; Abraham H

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Mallows need hierarchy or Deficient theory of motivation. J.S. Adam’s Equity Theory,

Vroom’s Expectation Theory, Two factor Theory.

McClelland’s Achievement Need Theory:

According to McClelland there are three types of needs

Need for Achievement (n Ach):

This need is the strongest and lasting motivating factor. Particularly in case of

persons who satisfy the other needs. They are constantly pre occupied with a desire for

improvement and lack for situation in which successful outcomes are directly correlated

with their efforts. They set more difficult but achievable goals for themselves because

success with easily achievable goals hardly provides a sense of achievement.

Need for Power (n Pow):

It is the desire to control the behavior of the other people and to manipulate the

surroundings. Power motivations positive applications results in domestic leadership style,

while it negative application tends autocratic style.

Need for affiliation (n Aff):

It is the related to social needs and creates friendship. This results in formation of

informal groups or social circle.

Behavioral Modification Theory:

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances. This theory is based on learning theory. Skinner conducted

his researches among rats and school children. He found that stimulus for desirable

behavior could be strengthened by rewarding it at the earliest. In the industrial situation,

18
this relevance of this theory may be found in the installation of financial and non financial

incentives.

More immediate is the reward and stimulation or it motivates it. Withdrawal of

reward incase of low standard work may also produce the desired result. However,

researches show that it is generally more effective to reward desired behavior than to punish

undesired behavior. The water but you cannot force it to drink; it will drink only if it's

thirsty - so with people. They will do what they want to do or otherwise.

Abraham Maslow's hierarchy of human needs :

This theory is the most widely discussed theory of motivation.

The theory can be summarized as thus:

 Human beings have wants and desires which influence their behavior; only

unsatisfied needs can influence behavior, satisfied needs cannot.

 Since needs are many, they are arranged in order of importance, from the

basic to the complex.

 The person advances to the next level of needs only after the lower Level

need is at least minimally satisfied.

 The further the progress up the hierarchy, the more individuality, humanness

and psychological health a person will show.

The needs, listed from basic (lowest, earliest) to most complex (highest, Latest)

are as follows:

 Self actualization

 Self esteem

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  Social

 Safety & security

 Physiological

J.S Adams Equity Theory :

Employee compares her/his job inputs outcome ratio with that of reference. If the

employee perceiv es inequity, she/he will act to correct the inequity: lower productivity,

reduced quality, increased absenteeism, voluntary resignation.

Vroom’s Expectation Theory:

Vroom’s theory is based on the belief that employee effort will lead to performance

and performance will lead to rewards (Vroom, 1964). Reward may be either positive or

negative. The more positive the reward the more likely the employee will be highly

motivated. Conversely, the more negative the reward the less likely the employee will be

motivated.

Two Factor Theory:

Douglas McGregor introduced the theory with the help of two views; X
assumptions are

Conservative in style Assumptions are modern in style.

X Theory

 Individuals inherently dislike work.

 People must be coerced or controlled to do work to achieve the objectives.

 People prefer to be directed

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Y Theory

 People view work as being as natural as play and rest

 People will exercise self direction and control towards achieving objectives they are

 Committed to People learn to accept and seek responsibility.

Types of motivation:

There are 2 types of motivation. They are

1. Positive motivation.

2. Negative motivation.

Positive motivation is a process of attempting to influence others to do your will

through the possibility of gain or reward. Incentive motivation is the pull mechanism.

Negative motivation or fear motivation is based force or fear. Fear causes person to act

in a certain way because they are afraid of the consequences if they don’t Fear motivation

is the push mechanism.

The objective of motivation is to create condition in which people are willingly to work

with zeal, initiative, interest and enthusiasm, with a high personal and group.

Moral satisfaction with a sense of responsibility, loyalty and discipline and with pride

and confidence in a most cohesive manner so that the goal of an organization are achieved

effectively.

EMPLOYEE MOTIVATION IN THE WORK PLACE:

The job of a manager in the workplace is to get things done through employees. To

do this the manager should be able to motive employees. To understand motivation one

must understand human nature itself. Human nature can be very simple, yet very complex

21
too. An understanding and appreciation of this is a prerequisite of effective employee

motivation in the workplace and therefore effective management and leadership.

Motivation is the key to performance improvement:

Performance is considered to be a functional improvement:

Job performance =f (ability) (motivation)

Ability in turn depends on education, experience and training and its improvement

is a slow and long process. On the other hand it can be improved quickly. As a guideline,

there are broadly 7 strategies for motivation.

 Positive reinforcement

 Effective discipline and punishment

 Treating people fairly

 Satisfying employee needs

 Setting work related goals

 Restructuring job

 Based rewards on job performance

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Basic principles to remember by manager for motivating employees:

1. Motivating employees starts with motivating yourself

2. Always work to align goals of the organization with goals of employees

3. Key to support the motivation of your employees understands what motivates each

of them.

4. Recognize that supporting employees motivation is a process, not a task.

5. Support employee’s policies by using motivation by organization systems.

Worker motivation must also be viewed from 2 perspectives:

1. Inner drive

2. Outer (external) motivators.

A person’s inner drives push and propel him/her towards an employer, a particular

job, career, line of study, or other activity. The outer (external) motivators are the mirror

image the employer or outside world offers in response to the inner drives. In order to

attract the “cream of the crop” of available workers, same as in his/her dealings with

customers, the employer not only tries to satisfy these basic needs individual workers have.

Most workers need to:

1. Earn wages that will enable them to pay for basic necessities and additional luxuries

such as the purchase of a home, or travel

2. Save for and enjoy old age security benefits

3. Have medical and other insurance coverage

4. Acquire friends at work

5. Win recognition

6. Be acknowledge and rewarded for special efforts and contributions

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 7. Be able to advance in life and career-wise

8. Have opportunities for self-development

9. Improve their skills, knowledge, and know-how

10. Realize their ideal(s)

The employer responds to those needs by offering and providing:

1. Employment

2. Adequate pay

3. Assistance to workers for their special needs (such as child care arrangements,

transportation, flexible work schedule).

4. Job security

5. Clear company policies

6. Clear and organized work procedures

7. A safe work environment

8. Medical coverage and other benefits

9. An atmosphere of team work and cooperation

10. Social activities

11. Reward and recognition programs

12. Open lines of communication programs

13. Systematic feedback

14. Motivation programs

15. Opportunities for promotion

16. Company/business information

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 17. Information on customer feedback

18. Sharing of company goals and objectives

19. Information on the market situation and industry

20. Future expectations

It is important that the employer discover other extraordinary needs applicants have

before hiring them and know beforehand whether she/he can satisfy those needs or not. An

employee may have:

 Family responsibilities and be unable to work shifts, over time, or weekends.

 Heavy financial responsibilities which he/she can meet only by working at 2 jobs,

leading to exhaustion, “sick leave”, a deficient work performance

 A desperate financial need for additional overtime and weekend remuneration

 Premature expectations of swift promotions.

In addition to needs and drives, workers have expectations from their employer-they

expect:

 A knowledgeable, experienced, expert employer

 Clear and fair policies, procedures, and employment practices

 Business integrity

 Clear job description

 Two-way communication

 Effective management and supervision

 Positive discipline

 Good company repute

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  Good customer relations

 Company survival

 Opportunity for personal growth

 Company growth

 A share in the company’s success.

Most of these needs, expectations and aspirations are unexpressed-it is up to the

employer to develop a good system of company communications, employee relations,

Motivation that will lead to an environment of openness, cooperation, team work, and

motivation that will benefit all the parties involved.

Motivational methods:

1. Building confidence:

Facing a challenge, meeting it and mastering it help build confidence.

2. Team building:

Team unite and work together when they identify a common purpose whether the

aim is the tallest tower made out of newspaper, or a game of rounder’s on the park.

Competition in teams or groups creates teams and ignites team effort

3. Coaching and Training:

Games and activities provide a perfect vehicle for explaining the Motivation

process (‘train the trainer’ for example) to managers, team leaders and trainers.

4. Personal motivation style and learning:

Everyone is different. Taking part in new games and activities outside of the work

situation illustrates people’s different strengths and working style preferences. Mutual

26
respect develops when people see skills and attributes in others that they didn’t know

existed.

5. Continual development:

Introducing people, staff or employees to new experiences opens their minds to new

avenues of personal development, and emphasizes the opportunity for continuous learning

that is available to us all.

6. Improving empathy and communications for motivation

To communicate we must understanding the other person. Empathy and intuitive

skills are right-side brain of the brain, which we use when we communicate and understand

others. Team activities and games promote communications and better mutual

understanding-essential for good organizational performance.

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 CHAPTER 3
INDUSTRY PROFILE
&
COMPANY PROFILE

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 INDUSTRY PROFILE
INDIAN INSURANCE INDUSTRY
The Insurance sector in India governed by Insurance Act, 1938, the Life Insurance
Corporation Act, 1956 and General Insurance Business (Nationalization) Act, 1972,
Insurance Regulatory and Development Authority (IRDA) Act, 1999 and other related
Acts. With such a large population and the untapped market area of this population
Insurance happens to be a very big opportunity in India.

Today it stands as a business growing at the rate of 15-20 per cent annually. Together with
banking services, it adds about 7 per cent to the country’s GDP .In spite of all this growth
the statistics of the penetration of the insurance in the country is very poor. Nearly 80% of
Indian populations are without Life insurance cover and the Health insurance.

This is an indicator that growth potential for the insurance sector is immense in India. It
was due to this immense growth that the regulations were introduced in the insurance
sector and in continuation “Malhotra Committee” was constituted by the government in
1993 to this immense growth that the regulations were introduced in the insurance sector
and in continuation “Malhotra Committee” was constituted by the government in 1993 to
examine the various aspects of the industry. The key element of the reform process was
Participation of overseas insurance companies with 26% capital. Creating a more efficient
and competitive financial system suitable for the requirements of the economy was the
main idea behind this reform. Since then the insurance industry has gone through many sea
changes .
The competition LIC started facing from these companies were threatening to the existence
of LIC .since the liberalization of the industry the insurance industry has never looked back
and today stand as the one of the most competitive and exploring industry in India. The
entry of the private players and the increased use of the new distribution are in the limelight
today. The use of new distribution techniques and the IT tools has increased the scope of
the industry in the longer run.
A BRIEF HISTOR OF THE INSURANCE SECTOR:

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The business of life insurance in India in its existing form started in India in the year 1818
with the establishment of the Oriental Life Insurance Company in Calcutta. 
The story of insurance is probably as old as the story of mankind. The same instinct
that prompts modern businessmen today to secure themselves against loss and disaster
existed in primitive men also. They too sought to avert the evil consequences of fire and
flood and loss of life and were willing to make some sort of sacrifice in order to achieve
security. Though the concept of insurance is largely a development of the recent past,
particularly after the industrial era – past few centuries – yet its beginnings date back
almost 6000 years.
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its
corporate office in the year 1956. Since life insurance contracts are long-term contracts and
during the currency of the policy it requires a variety of services need was felt in the later
years to expand the operations and place a branch office at each district headquarter. Re-
organization of LIC took place and large numbers of new branch offices were opened. As a
result of re-organization servicing functions were transferred to the branches, and branches
were made accounting units. It worked wonders with the performance of the corporation. It
may be seen that from about 200.00 Crore of New Business in 1957 the corporation
crossed 1000.00 Crore only in the year 1969-70, and it took another 10 years for LIC to
cross 2000.00 Crore mark of new business. But with re-organization happening in the early
eighties, by 1985-86 LIC had already crossed 7000.00 Crore Sum Assured on new policies.
Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7
zonal offices and the corporate office. LIC’s Wide Area Network covers 100 divisional
offices and connects all the branches through a Metro Area Network. LIC has tied up with
some Banks and Service providers to offer on-line premium collection facility in selected
cities. LIC’s ECS and ATM premium payment facility is an addition to customer
convenience. Apart from on-line Kiosks and IVRS, Info Centers have been commissioned
at Mumbai, Ahmadabad, Bangalore, Chennai, Hyderabad, Kolkata, New Delhi, Pune and
many other cities. With a vision of providing easy access to its policyholders, LIC has
launched its SATELLITE SAMPARK offices. The satellite offices are smaller, leaner and
closer to the customer. The digitalized records of the satellite offices will facilitate
anywhere servicing and many other conveniences in the future.

30
Some of the important milestones in the life insurance business in India are:
1818 British introduced the life insurance to India with the establishment of the Oriental
Life Insurance Company
1850 Non life insurance debuts with triton insurance company.
1870 Bombay mutual life assurance society is the first Indian owned life insurer
1912 The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.

1928  The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.

1938 Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.

1956 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956,
with a capital contribution of Rs. 5 Crore from the Government of India.

1993 Malhotra committee was constituted under the chairmanship of former RBI chief R.
N. Malhotra to draw a blue print for insurance sector reforms.

1994 Malhotra committee recommended reentry of private players.

1997 IRDA (Insurance Regulatory and Development Authority) was set up as a regulator
of the insurance market in India.

2000 IRDA started giving license to private insurers. ICICI Prudential ,HDFC were first
private players to sell insurance Policies.

2001 Royal Sundaram was the first non-life private player to sell an insurance policy.

2002 Bank allowed to sell insurance plans as TPAs enter the scene, insurers start setting
non-life claims in the cashless mode.

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 HOW BIG IS THE INSURANCE MARKET?
The insurance sector was opened up for private participation. For years now, the private
players are active in the liberalized environment. The insurance market have witnessed
dynamic changes which includes presence of a fairly large number of insurers both life and
non-life segment. Most of the private insurance companies have formed joint venture
partnering well recognized foreign players across the globe.
There are now 29 insurance companies operating in the Indian market – 14 private life
insurers, nine private non-life insurers and six public sector companies. With many more
joint ventures in the offing, the insurance industry in India today stands at a crossroads as
competition intensifies and companies prepare survival strategies in a detariffed scenario.
There is pressure from both within the country and outside on the Government to increase
the foreign direct investment (FDI) limit from the current 26% to 49%, which would help
JV partners to bring in funds for expansion.
There are opportunities in the pensions sector where regulations are being framed. Less
than 10 % of Indians above the age of 60 receive pensions. The IRDA has issued the first
license for a standalone health company in the country as many more players wait to enter.
The health insurance sector has tremendous growth potential, and as it matures and
new players enter, product innovation and enhancement will increase. The deepening of the
health database over time will also allow players to develop and price products for larger
segments of society.
INDIAN SCENARIO:
Insurance is a big opportunity in a country like India with a large population and untapped
potential. The life insurance business (measured in the context of first year premium)
registered a growth of 23.88 per cent in 2007-08, (94.96 per cent achieved in 2006-07). The
general insurance business (gross direct premium) has registered a growth of 11.72 per cent
in 2007-08 (3.52 per cent achieved in 2006-07). This has resulted in increasing insurance
penetration in the country. Insurance penetration or premium volume as a ratio of GDP, for
the year 2007 stood at 4.00 per cent for life insurance and 0.60 per cent for non-life
insurance. The level of penetration, particularly in life insurance, tends to rise as income
levels increase. India, with its huge middle class households, has exhibited growth potential
for the insurance industry. Saturation of markets in many developed economies has made

32
the Indian market even more attractive for global insurance majors. The insurance market
in India has witnessed dynamic changes including entry of a number of global insurers in
both life and non-life segment.
Most of the private insurance companies are joint ventures with recognized foreign players
across the globe. Over the last eight years, consumer awareness has improved. Competition
has brought more product innovation and better customer servicing. This made a positive
impact on the economy in income generation and creating employment opportunities in this
sector.
Life Insurance
The total capital of the life insurers at end March 2008 stood at Rs.12296.42 crore. The
additional capital brought in by the existing private insurers during 2007-08 was
Rs.3787.01 crore and the two new entrants, brought in equity of Rs.385 crore making the
total additional capital brought in 2007-08 by the private insurers to Rs. 4172.01 crore. Of
this, the domestic and the foreign joint venture partners added Rs.3160.12 crore and
Rs.1011.88 crore respectively.
There has been no infusion of capital in the case of LIC which stood at Rs.5 crore.

33
TRENDS IN LIFE INSURANCE BUSINESS—UNIT LINKED INSURANCE
PLANS:
It wasn’t too long back when the good old endowment plan was the preferred way to insure
oneself against an eventuality and to set aside some savings to meet one’s financial
objectives. The traditional endowment policies were Investing funds mainly in fixed
interest Government securities and other safe investments to ensure the safety of capital.
Thus the traditional emphasis was always on security of capital rather than yield. However,
with the inflationary trend witnessed all over the world, it was observed that savings
through life insurance were becoming unattractive and not meeting the aspirations of the
policyholders.
The policyholder found that the sum assured guaranteed on maturity had really depreciated
in real value because of the depreciation in the value of money. The investor was no longer
content with the so called security of capital provided under a policy of life insurance and
started showing a preference for higher rate of return on his investments as also for capital
appreciation. It was, therefore found necessary for the insurance companies to think of a
method whereby the expectation of the policyholders could be satisfied. The object was to
provide a hedge against the inflation through a contract of insurance. Decline of assured
return endowment plans and opening of the insurance sector saw the advent of ULIPs on
the domestic insurance horizon. Today, the Indian life insurance market is riding high on
the unit linked insurance plans.

34
TRENDS IN LIFE INSURANCE BUSINESS—UNIT LINKED INSURANCE
PLANS:
It wasn’t too long back when the good old endowment plan was the preferred way to insure
oneself against an eventuality and to set aside some savings to meet one’s financial
objectives. The traditional endowment policies were Investing funds mainly in fixed
interest Government securities and other safe investments to ensure the safety of capital.
Thus the traditional emphasis was always on security of capital rather than yield. However,
with the inflationary trend witnessed all over the world, it was observed that savings
through life insurance were becoming unattractive and not meeting the aspirations of the
policyholders.
.
ULIPs and its Features:
Unit linked insurance plans (ULIPs) are insurance plans that combine the benefit of
investment with insurance. They give the investor an option to put a part of their premium
in various investment portfolios and derive the benefits depending upon the performance of
the funds chosen by them. ULIPs were launched at an opportune time when stock markets
had just taken off. Being market- linked, they were major beneficiaries of the secular
rise in stock markets. ULIPs have gained high acceptance due to the attractive features they
offer. These include:
1. Flexibility
1. Flexibility to choose Sum Assured.
2. Flexibility to choose premium amount.
3. Option to change level of Premium even after the plan has started (Top up facility).
4. Flexibility to change asset allocation by switching between funds.
2. Transparency
1. Changes in the plan & net amount invested are known to the customer.
2. Convenience of tracking one’s investment performance on a daily basis.
3. Liquidity
1. Option to withdraw money after few years (comfort required in case of exigency).
2. Low minimum tenure.
3. Partial / Systematic withdrawal allowed

35
4. Fund Options
1. A choice of funds (ranging from equity, debt, cash or a combination).
2. Option to choose fund mix based on desired asset allocation.
Traditionally, endowment plans have invested in government securities, corporate bonds
and the money market. ULIPs however, have a broader choice. They invest across the
board in stocks, government securities, corporate bonds and money market instruments. Of
course, within a ULIP there are options wherein equity investments are capped. The
common types of funds available in ULIPs are Bond Fund, Protector Fund, Secure Fund,
Balanced Fund, Growth Fund, Index Fund, and Enhancer Fund. Depending on one’s risk
appetite one can choose the fund.
Insurance companies are required to declare the NAV of various ULIPs on a daily basis.
The movement of NAV enables the policy holder to assess the performance of his
investment and accordingly make intervention in the form of switches, withdrawal and top-
ups. After opening up of the insurance sector, Unit-linked insurance policies (ULIPs) have
become increasingly popular. Analysis of figures for the last three years indicates the
growth pattern of unit linked business.
COMPANY PROFILE

Bajaj Allianz Life Insurance Company Limited

Bajaj Life Insurance Company Ltd. Is one of India’s leading private companies, which
offers a range of individual and insurance solution? It is a joint venture between Allianz se
Limited and Bajaj auto. Bajaj auto ltd. is India’s leading automobile company. Bajaj Auto
Ltd. is the largest exporter of two and three wheelers. With Kawasaki Heavy Industries of
Japan, Bajaj manufactures state-of-the-art range of two-wheelers. The brand, Pulsar is
continually dominating the Indian motorcycle market in the premium segment. Its Discover
DTSi is also a successful bike on Indian roads.
Bajaj auto Ltd.
 One of the largest 2 & 3 wheeler manufacturer in the world
 21 million+ vehicles on the roads across the globe
 Managing funds of over Rs 5,329 cr.

36
  Bajaj Auto finance one of the largest auto finance cos. in India
Rs. 6,340 Cr. Turnover & Profits after tax of 767 Cr. in 2004-5
Allianz se is the Germany based insurance company. it also working 70 countries
and it  Provide the insurance last 119 years
 Incorporated on 12th march 2001.
 Received certificate of Registration (No.116)for IRDA of India on 3th Aug 2001.

Bajaj Finsev
 Associate Company of Bajaj incorporated on 30th April 2007.
 Net profit as on 31-03-2008 Rs 4395 Lakh capital Base as on 31-03-2008 Rs 7234
lakhs.
ALLIANZ SE
 Headquartered in Munich, Germany, established in 1890 has over 119 years of
Insurance experience.
 One of the world's biggest insurers, Allianz SE offers a range of insurance products
and services -- including life, health, and property/casualty coverage for individuals
and businesses -- through some 100 subsidiaries and affiliates operating all over the
globe.
 In addition to selling insurance, Allianz provides retail and institutional asset
management services through Allianz Global Investors and private equity
investment through Allianz Capital Partners. Other brands include Euler Hermes,
Fireman's Fund, and Mondial, all property insurance subsidiaries. Allianz has
transformed itself into a Societas Europaea, a joint stock company that operates
under European Union rules.
 Worldwide 2nd by Gross Written Premiums – Rs 4,77,930 Cr (Euro 89 billion) 
 3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. -
AUM of Rs 50,096,199 Cr (Euro 764621 million)
 11th largest corporation in the world
 50 % of global business from Life Insurance, close to 60 million lives insured
globally.

37
  Presence in more than More than 70 countries, 182865 employees worldwide
Who`s who @ Allianz Group

Allianz Insurance Management Asia Pacific

Allianz Group’s Worldwide Presence

ASIA PACIFIC:
WORLDWIDE:

Argentina
Austria Australia
Belarus Brunei
Belgium Greece
Hungary China
Bermuda Hong Kong
Brazil Ireland
Italy India
Bulgaria Indonesia
Burkina Faso Lebanon
Liechtenstei Japan
Cameroon Laos
n Slovenia
Canada Malaysia
Luxembourg South Africa
Central African New Zealand
Mexico Spain
Rep. Pakistan
Morocco Sweden
Chile Philippines
Namibia Switzerland
Croatia Singapore
Netherlands Tunisia
Cyprus South Korea
Norway Turkey
Czech Republic South Pacific
Peru Ukraine
Denmark Islands
Poland United Arab
Egypt Taiwan
Portugal Emirates
Estonia Thailand
Russia United Kingdom
France Vietnam
Senegal USA
Gabon
Slovakia Uzbekistan
Germany
Venezuela

38
 Bajaj Allianz Life Insurance

About Bajaj Allianz

Bajaj Allianz Life Insurance Company Limited is one of the private insurance companies in
India. Bajaj Allianz Life Insurance is a union between Allianz SE, one of the largest
Insurance Company and Bajaj Finserv. (Recently demerged from Bajaj Auto.). Bajaj Auto
Limited is 74% shared holder in the company with the remaining 26% being held by
Allianz SE.

On 2001, the Bajaj Allianz Life Insurance was given the IRDA (Insurance Regulatory and
Development Authority) certification of Registration for conducting the Life Insurance
business (which also included the Health Insurance business) in the country. Bajaj Allianz
India is headquartered in Pune. The company has its offices in 200 towns all over India.

Allianz SE is a leading insurance conglomerate globally and one of the largest asset
managers in the world, managing assets worth over a Trillion (Over INR. 55, 00,000
Crores). Allianz SE has over 115 years of financial experience and is present in over 70
countries around the world.

At Bajaj Allianz Life Insurance, customer delight is our guiding principle. Our business
philosophy is to ensure excellent insurance and investment solutions by offering
customized products, supported by the best technology.
Financial services arm's profit rises to Rs 42 crore
BS Reporter / Mumbai July 16, 2009, 0:40 IST

Bajaj Finserv, the financial services arm of the Bajaj Group, posted a net profit of Rs 42
crore for the quarter ended June 30, 2009. It had posted a loss of Rs 36 crore in the
corresponding period last year.

39
The group’s life insurance arm, Bajaj Allianz Life Insurance Company, was the biggest
contributor to the firm’s income. Bajaj Allianz has posted a profit of Rs 68 crore in the
June quarter. In the year-ago quarter, it had posted a loss of Rs 3 crore.Gross written
premium for the quarter rose 40 per cent to Rs 2,001 crore as against Rs 1,847 crore in the
corresponding period last year. Renewal premium, too, increased to Rs 1,423 crore as
against Rs 1,018 crore in the quarter ended June 30, 2008. However, new business
premium fell 42.28 per cent to Rs 577 crore

Culture @ Bajaj Allainz

 Be a winning team.
 Have a passion for excellence and hate bureaucracy.
 Be empowered, have he confidence to take decisions quickly and be accountable.
 Make BALIC a “great place to work”
 Have a sense of humor.
Bajaj allianz way
 Invest in people – pay, develop & career planning.
 Dominate the market – Be decisive & communicate clear goals.
 Never sit still – change continuously, change when the going is good & revolutize.
 Think service – service, service – continuous improvement.
 Make The future – be flexible & be aware of competitors. Manage the business
like a corner shop – customer satisfaction, employee satisfaction ensuring cash
flow.
Mr. Kamesh Goyal Mr.Sashi Rajesh Mr. Sanjay Jain
Country Manager Krishnan Viswanathan Head,
CEO CIO C.F.O. Marketing

BALIC BALIC

40
  Bajaj Allianz Head of the Department: Details of the Company
ORGANISATION STRUCTURE OF
BAJAJ ALLIAN

BOARD OF DIRECTORS:
Mr. Rahul Bajaj (Chairman)
Dr. Werner Zedelius
Mr. Sanjay Asher
Mr. Niraj Bajaj
Mr. Sanjiv Bajaj

41
Mr. Heinz Dollberg
Mr. Ranjit Gupta
Mr. S. H. Khan
Mr. Suraj Mehta
Mr. Dietmar Raich
Mr. Manu Tandon
Mr. Kamesh Goyal (Alternate Director to Dr. Werner Zedelius)
Branch Address: Bajaj Allianz Life Insurance Co. Ltd.
Shalimar Towers, TC-57N Vibhuti Khand
Gomtinagar, Lucknow-226010.
Telephone: (+91 522) 6450751
Head Office Address:
Bajaj Allianz Life Insurance Company Limited
GE Plaza, Airport Road, Yerawada, Pune-411006 Maharashtra

42
 CHAPTER: 4
DATA ANALYSIS
AND
INTERPRETATIONS

43
 1. Which type of incentives motivates you more?

(Table 4.1.1)
Particulars No. of Percentage
Respondents
Monetary incentives 15 30
Non-financial incentives 9 18
Both 26 52
Total 50 100

(Chart 4.1.a)

4.2.1 INTERPRETATION:

The table shows that 52% of the respondents are expressing that both financial and

non-financial incentives will equally motivate them, 18% are expressing non-financial

incentives motivates and 30% respondents says we only motivated through monetary

incentives only.

44
2. What factor De-motives you at work place?

(Table 4.2)
Particulars No. of Respondents Percentage
Job profile 14 28
Company policy 16 32
Work environment 20 40
Total 50 100

INTERPRETATION:

The table shows that 40% of the respondents are de-motives with work environment

and 32% with company policy and 28% of the respondents are de-motives with job profile.

From this it can be concluded that work environment and company policy are de-motives at

work place.

45
2.How far you are satisfied with the incentives provided by the organizations?

a) Highly satisfied
b) Satisfied
c) Neutral
d) Dissatisfied
e) Highly dissatisfied

(Table 4.3)
Particulars No. of Respondents Percentage
Highly satisfied 18 36
Satisfied 29 58
Neutral 3 6
Dissatisfied 0 0
Highly dissatisfied 0 0
Total 50 100

4.2.3 INTERPRETATION:

The table shows that 36% of the respondents are highly satisfied and 58% of the

respondents are satisfied with incentives provided by the organization so we can conclude

most of the employees are satisfied with the incentives provided by the organization.

46
3. Does your Job improve your skills and abilities?

(Table 4.4)
Particulars No. of Respondents Percentage
Yes 32 64
No 10 20
Never 8 16
Total 50 100

3.2.4 INTERPRETATION:

64% of the respondents are agreed that their job improves their skills and abilities

and 20% of the respondents agreed that their skills and abilities are not improves. It can be

conclude that their job improves their skills and abilities.

47
4. Do you think that the incentives and other benefits will influence your

performance?

(Table 4.5)
Particulars No. of Respondents Percentage
Influence 32 64
Does not influence 12 24
No opinion 6 12
Total 50 100

INTERPRETATION:

The table shows that 64% of the respondents those incentives and other benefits will

influence their performance,24% respondents says they are not influence their performance

and 12% respondents did not say any opinion.

48
 5. Management is really interested in motivating the employees?

(Table 4.6)

Particulars No. of respondents Percentage

Agree 25 50
Disagree 18 36
Neutral 7 14
total 50 100

INTERPRETATION:

From the above table 50% of the employees are agreed that the management is really

interested in motivating the employees and 36% of the employees are disagreed and 14%

are neutral.So it can be concluded that management is really interested in motivate the

employees in organization.

49
7. Does the management involve you in the decision making which are connected to your

department?

(Table 4.7)

Particulars No. of Respondents Percentage

Yes 47 94
No 0 0
Occasionally 3 6
TOTAL 50 100

INTERPRETATION:

The table shows 94% of the respondents agree that they the management involves

them in decision making which are connected their department.

50
8. Do you enthusiastic about your work?

(Table4.8)
Particulars No. of Respondents Percentage
Always 15 30
Sometimes 30 60
Never 5 10
TOTAL 50 100

INTERPRETATION:

From the above table, we can conclude that 60% of the respondents agreed that

they feel enthusiastic some times in their work.

51
 9. Are you encouraged to come up with new and better ways of doing things?

(Table4.9)

Particulars No. of Respondents Percentage

Strongly agree 20 40
agree 10 20
Neutral 12 24
Disagree 8 16
Strongly disagree 0 0
TOTAL 50 100

INTERPRETATION:

From the above table we can conclude that 40% of the employees agreed that they

are encouraging to come up with new and better ways of doing things.

52
10. Have you been promoted at work in the last six months?

(Table4.10)

Particulars No. of Respondents Percentage

Yes 18 36
No 32 64
Total 50 100

INTERPRETATION:

The table shows that 64% of the employees are not promoted from the last six

months and 36% of the employees are promoted. From this we can conclude that most of

the employees are not promoted.

53
11. Are you adequately recognized for your good work?

(Table4.11)

Particulars No. of Respondents Percentage

Agree 28 56
Disagree 10 20
Neutral 12 24
Total 50 100

INTERPRETATION:

The figure shows that 56% of the employees agreed that they are recognized for good

work and 20% are disagreed and 24% respondents are neutral.So it can conclude that most

of the employees recognized by their good work.

54
12. Rank the following factors which motivates you the most?

Table4.12
Particulars No. of Respondents Percentage
Salary increase 21 42
Promotion 15 30
Leave 3 6
Motivational talks 5 10
Recognization 6 12
Total 50 100

INTERPRETATION:

The table shows that 42% of the respondents are responding that the increase in

salary will motivate them the most.

55
13. Have you been nominated for training & development programmers for the last 6

months?

Table4.1.14

Particulars No. of Respondents Percentage

Yes 30 60
No 20 40
Total 50 100

INTERPRETATION:

The table shows that 60% of the respondents are expressing that they are nominated for

training and development programme in the organization for the last 6 months.

56
14. Does the management provide continuous feed back in solving work related problems?

(Table4.14)
Particulars Number of Respondents Percentage
Strongly agree 14 28
Agree 16 32
Neutral 9 18
Disagree 5 10
Strongly Disagree 6 12
TOTAL 50 100

INTERPRETATION:

The table shows that 28% of respondents strongly agreed and 32% agree that they

are getting feedback from management and 20% are neutral and 10% are disagree that they

are not getting feedback from the management.

57
15. Overall are you satisfied with your job?

(Table4.15)
Particulars Number of Respondents Percentage
Yes 28 56
No 22 44
TOTAL 50 100

INTERPRETATION:

The figure shows that 56% of the respondents are satisfied with their job and only

44% of the respondents agreed that they are not satisfied with their job.It can be concluded

that most of the respondents are satisfied with their job.

58
 CHAPTER: 5
FINDINGS,
SUGGESTIONS

59
 FINDINGS

The findings of the study are follows

 The BAJAJ ALLIANZ INSURANCE has a well defined organization structure.

 There is a harmonious relationship is exist in the organization between employees

and management.

 The employees are really motivated by the management.

 The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work.

 The study reveals that there is a good relationship exists among employees.

 Majority of the employees agreed that there job security to their present job.

 The company is providing good safety measures for ensuring the employees safety.

 From the study it is clear that most of employees agrees to the fact that

performance

 Appraisal activities and support from the coworkers in helpful to get motivated.

 The study reveals that increase in the salary will motivates the employees more.

 The incentives and other benefits will influence the performance of the employees

60
 SUGGESTIONS

The suggestions for the findings from the study are follows

 Most of the employees agree that the performance appraisal activities are helpful to

get motivated, so the company should try to improve performance appraisal system,

so that they can improve their performance.

 Non financial plans should also be implemented; it can improve the productivity

level of the employees.

 Organization should give importance to communication between employees and

gain co-ordination through it.

 Skills of the employees should be appreciated.

 Better carrier development opportunities should be given to the employees for their

improvement

 If the centralized system of management is changed to a decentralized one, then

there would be active and committed participation of staff for the success of the

organization

61
 CONCLUSION

The study concludes that, the motivational program procedure in BAJAJ ALLIANZ

INSURANCE is found effective but not highly effective. The study on employee

motivation highlighted so many factors which will help to motivate the employees. The

study was conducted among 50 employees and collected information through structured

questionnaire. The Study helped to findings, which were related with employee

motivational, programs which are provided in the organization.

The performance appraisal activities really play a major role in motivating the

employees of the organization. It is a major factor that makes an employee feels good in his

work and results in his satisfaction too. The organization can still concentrate on specific

areas which are evolved from this study in order to make the motivational programs more

effective. Only if the employees are properly motivated- they work well and only if they

work well the organization is going to benefit out it. Steps should be taken to improve the

motivational programs procedure in the future. The suggestions of this report may help in

this direction.

62
BIBLIOGRAPHY

63
 BOOKS REFFERED

 Wayne F. Cascio 2006, Managing Human Resources, TMH.

 Aswathappa, 2006, Human Resource Management, 4th edition, TMH

 K.Aswathappa, 2006, Organizational Behaviour- Text, Cases and games,

Himalaya Publishing House

 Curtis w. cook and Phillip L.Hunsaker, 2006, Management and Organizational

Behaviour, Macgraw-Hill Irwin

 Jyothi P. and DN Venkatesh-2006, Human Resource Management, Oxford

University press.

 HRM Review July 2010. by Dr.G C NAG Adjunct Professor, IBS – Mumbai

WEB REFERENCES:

 www.google.com

 www. motivationnaukrihub.com

 www. humanresources.about.com

64
ANNEXURE

65
 QUESTIONNAIRE

Employee Name:

Age:

Sex:

Designation:

Department/Branch:

Marital status:

Salary:

1. Which Type Of Incentives Motivate You More?

a) Monetary Incentives

b) Non- Financial Incentives

c) Both

2. What factor de-motivates you at work place?

a) Job profile

b) Company policy

c) Work environment

3.How far you are satisfied with the incentives provided by the organisation.?

a) Highly satisfied

66
b) satisfied

c) neutral

4. Does your job improve your skills and abilities?

a) Yes

b) No

c) Never

5. Do you think that the incentives and other benefits will influence your performance?

a) Influence

b) Does not influence

c) No opinion

6. Management is really interested in motivating the employees?

a) Agree

b) Disagree

c) Neutral

7. Does the management involve you in the decision making which are connected to your

department?

a) Yes

b) No

c) Occasionally

8. Do you enthusiastic about your work?

67
a) Always

b) Sometimes

c) Never

9. Are you encouraged to come up with new and better ways of doing things?

a) Strongly agree

b) Agree

c) Neutral

d) Disagree

e) Strongly disagree

10. Have you been promoted at work in the last six months?

a) Yes

b) No

11. Are you adequately recognized for your good work?

a) Agree

b) Disagree

c) Neutral

12. Rank the following factors which motivates you the most?

(Rank 1, 2, 3, 4… respectively)

No. Factors Rank

1 Salary increase
2 Promotion
3 Leave
4 Motivational talks
5 `reorganization

68
13. Have you been nominated for training & development programmes for the last 6

months?

a) Yes

b) No

14. Does the management provide continuous feed back in solving work related problems?

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15. Overall are you satisfied with your job?

a) Yes

b) No

16. What is the reason for selecting your present job?

a. Good salary b. Multi National Company

c. Job Security d. Friendly atmosphere

e. Better career f. Closer to residence

g. Incentives/ Rewards g. Challenging

69
17 . What are the types of rewards practiced in the organization?
a. Membership & Seniority based rewards

b. Job status based rewards

c. Competency based rewards

d. Performance based rewards

18 What is your opinion about the remuneration offered by the company?
a. Highly satisfactory b. Satisfactory

c. Undecided d. Dissatisfactory

19 What is your opinion about the incentives offered by the company?

a. Excellent b. Very good c. Moderate

d. Poor e. Very poor

20 . How is the leave policy practiced by the organization?
a. Highly satisfactory b. Satisfactory c. Moderate
d. Dissatisfactory
21. What is your opinion about the medical allowance benefit offered by the company?
a. Excellent b. Very good c. Moderate
d. Poor
22. What is your opinion about the system of introducing flexible working hours in the
company?
a. Very important b. Important c. Undecided
d. Not so important
23. Do you think that the practice of individual target setting helps in better performance?
a. Strongly agree b. Agree c. Undecided
d. Disagree

70
24. Do you feel that the team rewards increases the efficiency of members?
a. Yes b. No
25. If yes, then to what extent does the team rewards helps in increasing the efficiency of
the members?
a. To full extent b. Partially c. Not known
d. Very little e. Not at all
26. Does the fringe benefits programme presently practiced promotes and protects your
well being?
a. Yes b. No
27. If the company wants to offer additional fringe benefits in either cash or kind, please
indicate your preference?
Cash Kind
28. Do you feel that the system of suggestion scheme adopted by the organization has
helped in deriving benefits?
a. Yes b. No

Thank You………

Signature

71