A

Project Study Report

On
MAX-NEW YORK LIFE ISURENCE

A STUDY ON JOB SATISFACTION OF EMPLOYEES

Submitted in partial fulfillment for the

Award of degree of
Master of Business Administration

Submitted By:
Submitted TO
KHUSBU JAIN
BIRLA

DR.MAHIMA

MBA PART

CERTIFICATE

This is certify that the project work done on A STUDY ON JOB SATISFACTION
OF EMPLOYEES
Submitted to MAX-NEW YORK LIFE INSURANCE LIMITED, UDAIPUR for the
partial fulfillment of requirement of award of MBA programme.
This benefited work is carried out by at MAX-NEW YORK LIFE INSURANCE
LIMITED,UDAIPUR., (Raj).

DATE

:-

PLACE:-

KHUSBU JAIN
MBA

YEAR [ 07-09 ]

PACIFIC INSTITUTE OF MANAGEMENT, UDAIPUR

PREFACE
The project work entitled A STUDY ON JOB SATISFACTION OF
EMPLOYEES OF
MAX-NEW YORK LIFE INSURANCE LIMITED,UDAIPUR
Job Satisfaction is the favorableness or un-favorableness with
which the employee views his work. It expresses the amount of
agreement between ones expectation of the job and the rewards that the
job provides. Job Satisfaction is a part of life satisfaction. The nature of
ones environment of job is an important part of life as Job Satisfaction
influences ones general life satisfaction.
Job Satisfaction, thus, is the result of various attitudes possessed by an
employee. In a narrow sense, these attitudes are related to the job under
condition with such specific factors such as wages. Supervisors of
employment, conditions of work, social relation on the job, prompt
settlement of grievances and fair treatment by employer.
However, more comprehensive approach requires that many factors are
to be included before a complete understanding of job satisfaction can be
obtained. Such factors as employees age, health temperature, desire and
level of aspiration should be considered. Further his family relationship,
Social status, recreational outlets, activity in the organizations etc.
Contribute ultimately to job satisfaction.

Place:

Signature of

the student
Date

ACKNOWLEDGMENT
I am indebted to the all powerful ALMIGHTY GOD for all the blessings
he
showered on me and for being with me throughout the study.
I would like to express my sincere thanks to EMPLOYEE OF MAX-NEW
YORK LIFE management who provided me an opportunity to do this
project.
I am deeply obliged to Mr. RAYMOND LOBO (VICE PRESIDENT-HR) AND
MS. MALINI (HR-MANAGER) for his exemplary guidance and support
without
whose help this project would not have been success.
I would like to place on record my sincere gratitude and appreciation
to my project guide
MRS. MAHIMA BIRLA Pacific institute of management, for his kind
cooperation
and guidance which enabled me to complete my project.
I also take this opportunity to express my deed gratitude to my loving
parents and
friends who are a constant source of motivation and for their never
ending support and
encouragement during this project.

CONTENT :

SR. NO.

SUBJECTS

PAGES

COVERED
1.

PROJECT

1-4

PROPOSED
2.

INTRODUCTION

3.

REVIEW OF
LITERATURE

4.

OBJECTIVE
STUDY

5.

INDUSTRY PROFILE

6.

OF

THE

RESEARCH
METHODOLOGY

7.

8.

9.

DATA ANALYSIS AND

INTERPRETATION

FINDINGS

QUESTIONIAR

CHAPTER -1

INTRODUCTION

1.1 Job Satisfaction:

Job Satisfaction is the favorableness or un-favorableness with
which the employee views his work. It expresses the amount of
agreement between ones expectation of the job and the rewards that the
job provides. Job Satisfaction is a part of life satisfaction. The nature of
ones environment of job is an important part of life as Job Satisfaction
influences ones general life satisfaction.
Job Satisfaction, thus, is the result of various attitudes possessed by an
employee. In a narrow sense, these attitudes are related to the job under
condition with such specific factors such as wages. Supervisors of
employment, conditions of work, social relation on the job, prompt
settlement of grievances and fair treatment by employer.

However, more comprehensive approach requires that many factors are

to be included before a complete understanding of job satisfaction can be
obtained. Such factors as employees age, health temperature, desire and
level of aspiration should be considered. Further his family relationship,
Social status, recreational outlets, activity in the organizations etc.
Contribute ultimately to job satisfaction.

1.2 FACTORS INFLUENCING JOB SATISFACTION

The major factors influencing job satisfaction are presented below:

SUPERVISION
To a worker, Supervision is equally a strong contributor to the job
satisfaction as well as to the job dissatisfaction. The feelings of workers
towards his supervisors are usually similar to his feeling towards the
company. The role of supervisor is a focal point for attitude formation.
Bad supervision results in absenteeism and labor turnover. Good
supervision results in higher production and good industrial relations.

CO-WORKERS
Various studies had traced this factor as a factor of intermediate
7

importance. Ones associates with others had frequently been motivated

as a factor in job satisfaction. Certainly, this seems reasonable because
people like to be near their friends. The workers derive satisfaction when
the co-workers are helpful, friendly and co-operative.

PAY
Studies also show that most of the workers felt satisfied when they are
paid more adequately to the work performed by them. The relative
important of pay would probably changing factor in job satisfaction or
dissatisfaction.

AGE
Age has also been found to have a direct relationship to level job of
satisfaction of employees. In some groups job satisfaction is higher with
increasing age, in other groups job satisfaction is lower and in other
there is no difference at all.

MARITAL STATUS
Marital status has an important role in deciding the job satisfaction.
Most of the studies have revealed that the married person finds
dissatisfaction in his job than his unmarried counterpart. The reasons
stated to be are that wages were insufficient due to increased cost of
living, educations to children etc.

EDUCATION
Studies conducted among various workers revealed that most of workers
who had not completed their school education showed higher satisfaction
level. However, educated workers felt less satisfied in their job.

WORKING CONDITION
The result of various studies shows that working condition is an
important factor. Good working atmosphere and pleasant surroundings
help increasing the production of industry. Working conditions are more
important to women workers than men workers.

1.3 REVIEW OF LITERATURE:

JOB SATISFACTION OF MAX-NEW YORK LIFE IN india
by NAZRUL ISLAM & GOUR CHANDRA SAHA
This study attempts to evaluate job satisfaction of MAX-NEW YORK LIFE
in
india. It focuses on the relative importance of job satisfaction
factors and their impacts on the overall job satisfaction of officers. It also

investigates the impacts of bank type, work experience, age, and sex
differences on the attitudes toward job Satisfaction.
The result shows that salary, efficiency in work, fringe
supervision, and co-worker relation are the most important factors
contributing to job satisfaction. Private MAX-NEW YORK LIFE have
higher levels
of job satisfaction than those from public sectors as they enjoy better
facilities and supportive work environment. Sex and age differences have
relatively lower level of impact on it. The overall job satisfaction of the
MAX-NEW YORK LIFE is at the positive level.

1.4 Objective of the study:

10

1. To Study the job satisfaction of employees in MAX-NEW YORK LIFE

Insurance, Udaipur.

2. To Measure the satisfaction levels of employees on various factors

and give suggestions for improving the same.

3. To find out whether experience have an effect on Job Factors.

4. To find the significance difference among age groups with respect

to job Factors.

5. To find the significance difference among male and female

employees with respect to job Factors.

11

1.5 Limitations of the study:

1. Sample size of the study is only 37.

2. Some of the respondents were not responding to some of the

questions.

3. Due to time constraint the researcher was not able to complete the
project to desired level.

12

INDUSTRY PROFILE
.

Indian insurance industry

History:
Life insurance came to India from England in 1818 when oriental life
insurance company started in Calcutta by Europeans. After this many insurance
companies had been started in India. But these companies were looking after
only the needs of European community established in India. Indian people were
not being insured by these companies. First Indian life insurance company came
as Bombay mutual life insurance assurance. Second company was Bharat
insurance company came in 1896. After this the united India in madras, national
Indian and national insurance in Calcutta and the co-operative assurance in
Lahore were established in 1906.
To regulate Indian insurance business first insurance act came in
1912 as life insurance company act and provident fund act. These acts consist of
premium rates tables and periodical valuations of companies. In the first two
decade of 20th century many life insurance companies were started. So the
insurance act came in 1938 to governing life and non life insurance companies
and to provide strict state control. In 1956 the life insurance business in India was
nationalized. In 1956 life insurance corporation of India (LIC) was created to
spreading life insurance much more widely particularly in rural areas. In that year

13

LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. In 1957 the
business of LIC of sum assured of 200crores, 1000crores in 1970, and
7000crores in 1986.

Indian regulatory development authority:

In 1999, the Insurance Regulatory and Development Authority (IRDA) was
constituted as an autonomous body to regulate and develop the insurance
industry. The IRDA was incorporated as a statutory body in April, 2000. The key
objectives of the IRDA include promotion of competition so as to enhance
customer satisfaction through increased consumer choice and lower premiums,
while ensuring the financial security of the insurance market. The IRDA opened
up the market in August 2000 with the invitation for application for registrations.
Foreign companies were allowed ownership of up to 26%. The Authority has the
power to frame regulations under Section 114A of the Insurance Act, 1938 and
has from 2000 onwards framed various regulations ranging from registration of
companies for carrying on insurance business to protection of policyholders
interests.
Role of IRDA:

Protecting the interests of policyholders.

Establishing guidelines for the operations of insurers, and brokers.

14

Specifying the code of conduct, qualifications, and training for insurance

intermediaries and agents.

Promoting efficiency in the conduct of insurance business.

Regulating the investment of funds by insurance companies.

Specifying the percentage of business to be written by insurers in rural

sectors.

Handling disputes between insurers and insurance intermediaries.

Changing perception of Indian customers:

Indian Insurance consumers are like Indian Voters, they are soft but when time is
right and ripe, they demand and seek necessary changes. De-tariff of many
Insurance Products are the reflection of changing aspirations and growing
demand of Indian consumers.

For historical years, Indian consumers were at receiving end. Insurance Product
was underwritten and was practically forced onto consumers on a Take-it-As-itbasis. All that got changed with passage of IRDA act in 1999. New insurance
companies have come into existence leading to open competition and hence
better products for customers.

15

Indian customers have become very sensitive to Coverage / Premium as well as

the Products (read Risk Solution), that is given to them. There are not ready to
accept any product, no matter even if that is coming from the market leader,
should that product is not serving the purpose. A case in point is ULIP Product /
Group Life and Credit Life in Life Insurance segment and Travel / Family Floater
Health and Liability Insurance in the Non-life segment are new age Avatar. The
new products are constantly being demanded by Indian consumers, which is
putting huge pressures on Insurance companies (Read Risk Under-writers) and
Brokers to respond.

Customers are looking at Insurance for covering Pure Risk now which I have
covered in my next section. Another good reason why we are seeing quick
changes in the buying behavior of Insurance from mere Investment to risk
mitigation is the cost of Replacement of Goods (ROG) or Cost of Services
(COS).
Now Indian customers are aware of insurance industry and insurance products
provided by companies. They have become more sensitive. They would not
accept any type of insurance product unless it fulfills their requirements and
needs. In historic days customers looking at insurance products as a life cover
which can provide security against any unacceptable events, but now customers
look at insurance products as an investment as well as life cover. So todays
customers wants good return from the insurance companies. The Indian
customers forms the pivot of each companys strategy.

16

Investment of Indian household savings (as a % in different sector)

BANK DEPOSITS
CORP. BANKS
SHARES AND DEBENTURES

39%
2%
1%

MUTUAL FUNDS
NBFCS
GOVT. BONDS
INSURANCE
PF/ RETIRE FUNDS
CURRENCY

2%
3%
13%
13%
21%
6%

Changing face of Indian insurance industry:

After the Insurance Regulatory and Development Authority Act have been
passed there has been establishment of many private insurance companies in
India. Previously there was a monopoly business for Life Insurance Corporation
of India (L.I.C.) who was the only life-insurance company for the people till 2000.
L.I.C. still holds 71.4% of the market share in 2006. But after the introduction of
private life insurance companies there is a great competition in Indian market
now. Everyone is trying to capture the fresh market here and penetrate it with
aggressive marketing strategies. Today life-insurance is not only limited up to just
life risk cover and maturity period bonuses but changed to greater return from the
investments. With the introduction of the unit linked insurance policies these
companies are investing the money in different investment instruments like
shares, bonds, debentures, government and other securities. People are
demanding for higher returns with the life risk cover and private companies are
17

giving 30-40% average growth per annum. These life-insurance companies have
every kind of policies suiting every need right from financial needs of, marriage,
giving birth and rearing up a child, his education, meeting daily financial needs of
life, pension solutions after retirement. These companies have every aspects and
needs of our life covered along with the death-benefit.
In India only 25% of the population has life
insurance. So Indian life-insurance market is the target market of all the
companies who either want to extend or diversify their business. To tap the
Indian market there has been tie-ups between the major Indian companies with
other International insurance companies to start up their business. The
government of India has set up rules that no foreign insurance company can set
up their business individually here and they have to tie up with an Indian
company and this foreign insurance company can have an investment of only
24% of the total start-up investment.

Indian insurance industry can be featured by:

Low market penetration.

Ever growing middle class component in population.

18

Growth of customers interest with an increasing demand for better

insurance products.

Application of information technology for business.

Rebate from government in the form of tax incentives to be insured.

Today, the Indian life insurance industry has a dozen private

players, each of which are making strides in raising awareness levels,

introducing innovative products and increasing the penetration of life insurance in
the vastly underinsured country. Several of private insurers have introduced
attractive products to meet the needs of their target customers and in line with
their business objectives. The success of their effort is that they have captured
over 28% of premium income in five years.
The biggest beneficiary of the competition among life insurers has
been the customer. A wide range of products, customer focused service and
professional advice has become the mainstay of the industry, and the Indian
customers forms the pivot of each companys strategy. Penetration of life
insurance is beginning to cut across socio-economic classes and attract people
who have never purchased insurance before.
Life insurance is also now being regarded as a versatile financial
planning tool. Apart from the traditional term and saving insurance policies,
industry has seen the entry and growth of unit linked products. This provides
market linked returns and is among the most flexible policies available today for

19

investment. Now products are priced, flexible, and realistic and sustain so people
in better position to understand the risk and benefits of the product and they are
accepting these innovative products.
So it is clear that the face of life insurance in India is changing, but
with the changes come a host of challenges and it is only the credible players
with a long term vision and a robust business strategy that will survive. Whatever
the developments, the future and the opportunities in this industry will surely be
exciting.
There are 12 private players in Indian life insurance market.
6 bank owned insurers: - HDFC standard life, ICICI prudential, ING Vysya,
MetLife, OM Kotak, SBI life.
6 independent insurers: - Aviva, ANP sanmar, Birla sun life, Bajaj Allianz, Max
New York life, Tata AIG.
Major international insurers are- Prudential and
Standard life from UK, Sun life of Canada, AIG, MetLife and New York life of the
US.

Increasing growth since liberalization:

YEAR
FY03
FY04

LIC (in bn rs.)

110
120

PRIVATE PLAYER
10
20
20

FY05
FY06
FY07

130
140
240

40
60
160

Source: - Insurance Industry (ICFAI publication book)

Possibilities for insurance companies in India:

Further deregulation of the market.

Greater concern for the customers.

Newer products and services.

Competition and quality consciousness.

Cost effective operations.

Restructuring of the public sector.

Consolidation of domestic insurance markets.

Technology driven shift in product design.

Actual operations and distribution.

Convergence of financial services.

5. Global insurance industry

21

Globally, insurers increasingly are pressured by the demands of their clients. The
development of global insurance industry over the past few years was influenced
by booming stock markets which enabled considerable capital gains to be made
in non life business. Increase in insurers equity capital increased underwriting
capacity, while demand did not develop at the same pace, resulting in decrease
in insurance policies prices. The stock market boom of the past few years led to
demand for unit linked insurance products.
The global insurance industry is growing at rapid pace. Most of the markets
are undergoing globalization. Lot of mergers and acquisition are taking place in
the insurance world. The rapidity in the industry, technological improvement has
resulted in pressures on a few economic parameters. The world insurance
industry is at peak of its globalization process.
Global insurance market is increasing by an average of six percent per
year since 1990. Insurance companies have collected $2443.7 billion premium
world wide according to the global development of premium volume in 144
countries in 2005. $1521.3 has been generated as life insurance premium and
$922.7 as non life insurance premium. The US accounted for 35% of global life
and non life premium, Japan had global share of 21%, and UK was having 10%
of global share.

Influence on Indian insurance industry:

In this era of globalization, insurance companies face a dynamic global
environment. Dramatic changes are taking place owing to the internationalization

22

of activities, appearance of new risk, new types of covers to match with new risk
situations, and unconventional and innovative ideas on customer services. Low
growth rates in developed markets, changing customers needs, and the
uncertain economic conditions in the developing world are exerting pressure on
insurers resources and testing their ability to survive. Now the existing insurers
are facing difficulties from non-traditional competitors those are entering the retail
market with new approaches and through new channels.
India has a rapidly growing middle class and this section can afford to
buy insurance products. This shows the attraction that the Indian market holds
for foreign insurers who have been putting pressure on developing countries as
well as on India to open up its market.

Life insurance penetration as a % of GDP

United kingdom
Japan
Korea
United states
Malaysia
India
China
Brazil

8.9%
8.3%
7.3%
4.1%
3.6%
3.0%
1.8%
1.3%

23

CHAPTER III
RESEARCH METHODOLOGY:

The methodology followed for conducting the study includes the specification of
research design, sample design, questionnaire design, data collection and
statistical tools used for analyzing the collected data.

3.1 Research design:

The research design used for this study is of the descriptive type. Descriptive
research studies are those studies which are concerned with describing the
characteristics of a particular individual or a group.
.

3.2 Sample size:

The sample size consisting of 37 respondents were selected for the study.

3.3 Sampling design:

24

Since it is difficult to contact the entire population, sampling technique was

adopted. The employees were interviewed using convenience sampling
techniques.

3.4 Questionnaire design:

Questionnaire was designed in consultation with the experts of MAX-NEW YORK

LIFE Insurance Company in such a manner that it would facilitate the
respondents to reveal maximum information.

3.5 Data collection

The primary data was collected by using questionnaires. The questionnaire has
28 questions excluding marital status, age, factor prompted to join reliance. A five
point scale was used such as strongly disagree, disagree, neutral, agree and
strongly agree.

3.6 Statistical tools used for analysis

:
The collected data were analyzed by using following techniques:
Percentage

analysis
One-way

ANOVA

25

CHAPTER IV
DATA ANALYSIS AND INTERPRETATION
TABLE NO. 1

Frequency

Percent

Male

80

80

Female

20

20

TotaL

100

100

Chart no: 1

26

Table no: 2

MONTHLY INCOME

Frequency

Percent

Below rs.10000

10000-20000

15

15

20000-30000

10

10

ABOVE 30000

10

10

TOTAL

27

Table No: 3
Education qualification
Frequency

Percent

P.G

90

90

U.G

10

10

TOTAL

Chart No: 3

28

Tale No: 4
Frequency

Percent

married

80

80

Unmarried

20

20

Total

100

100

29

Chart no: 4

Table No: 5
Years of Experience
Frequency

Percent

Less than 1yr

8.0

1-2 yrs

26

26

2-3yrs

20

20

3-4yrs

26

26

Above 4yrs

20

20

Total

100

100

30

CHART
NO.5

Table No: 6
Working hours are convenient for me
Frequency

Percent

strongly agree

34

34

agree

32

32

nor 18

18

13

13

strongly disagree

Total

100

100

neither
disagree
disagree

agree

31

Chart no. 6

Interpretation:
From the above chart and table it is clearly evident that 34% of the
respondents strongly agree that working hours are convenient from them
and 32% agree with that and 18% neither agree nor disagree and 13%
disagree with the working hours and 3% are strongly against working
hours.

32

Table No: 7
I'm happy with my work place
Frequency

Percent

Strongly agree

30

30

Agree

39

39

nor 18

18

neither
disagree

agree

Disagree

strongly disagree

Total

100

100

Chart No: 7

Interpretation:
From the above table it is clear that 30% respondents strongly agree and
39% respondents agree that they are happy with their work place only
13% disagreed and 18% have no idea towards their work place.

33

Table No: 8
I feel i have too much work to do
Frequency

Percent

strongly agree

Agree

neither
disagree
Disagree

agree

nor 25

25

37

37

strongly disagree

22

22

Total

100

100

Chart No: 8

34

Interpretation:
From the above table it is quite clear that the work load is not
high, 37% of the respondents disagreed with the question I feel I have
too much work and another 22% strongly disagreed, 18% admits they
have too much work and 23% have no idea towards this question.

Table No: 9
safety measures provided by the company
Frequency

Percent

strongly agree

28

28

Agree

31

31

nor 24

24

Disagree

11

11

strongly disagree

Total

100

100

neither
disagree

agree

35

Chart No: 9

Interpretation:
From the above table it is evident that the safety measures
provided by the organizations are good as 28 and 31% of the respondents
agree with that and only 11& 6% disagreed and 24% neither agreed nor
disagreed.

36

TableNo: 10
My relationship with my supervisor is cordial
Frequency

Percent

strongly agree

30

30

Agree

41

41

nor 16

16

neither
disagree
Disagree

agree

strongly disagree

Total

100

100

Chart No: 10

37

Interpretation:
From the above table it is clear that relationship between
employees and their supervisors are cordial because 30% of respondents
strongly agreed to it and 41% agreed to it and only 13% disagreed and
16% of respondents have neither agreed nor disagreed.

38

Table No: 11
My supervisor is not partial
Frequency

Percent

18

18

30

30

nor 15

15

19

19

strongly disagree

18

18

Total

100

100

Agree
neither
disagree
Disagree

agree

Chart No: 11
My supervisor is not partial

39

Interpretation:
From the above table it is evident that the supervisors are not
partial to the employees as 18% strongly agreed and 30% agreed to the
question but 19% disagreed and 18% strongly disagreed this level is
quite high compared to other questions.

Table No: 12
My supervisor considers my idea too while taking decision
Frequency

Percent

strongly agree

26

26

Agree

43

43

nor 26

26

neither
disagree
Disagree

agree

strongly disagree

Total

100

100

40

Chart No: 12

Interpretation:
From the above table it is clear that 26 and 42% of the
respondents agree that supervisors consider their employees ideas also
and only 5% disagreed and 26% neither agreed nor disagreed.

Table No: 13
I'm satisfied with the support from my co-workers
Frequency

Percent

strongly agree

21

21

Agree

47

47

nor 16

16

neither
disagree
Disagree

agree

strongly disagree

Total

100

100

41

Chart No: 13
I'm satisfied with the support from my co-workers

Interpretation:
From the above table it is clear that relation with co-workers is
quite good as nearly 68% of the respondents agree that they are satisfied
with support from co-workers and only 15% disagreed and 16% have no
answer to this

Table No: 14

42

People here have concern from one another and tend to help one another
Frequency

Percent

strongly agree

26

26

Agree

41

41

nor 19

19

neither
disagree
Disagree

agree

strongly disagree

Total

100

100

Chart No: 14
43

People here have concern from one another and tend to help one another

Interpretation:
From the above table it is clear that in this organization people
have concern over each other as 26% strongly agreed and 41% agreed
and only 14% disagreed and 19% neither agreed nor disagreed.

Table No: 15
44

I'm satisfied with the refreshment facilities

Frequency

Percent

strongly agree

Agree

20

20

nor 30

30

26

26

strongly disagree

15

15

Total

100

100

neither
disagree
Disagree

agree

Chart No: 15
I'm satisfied with the refreshment facilities

45

Interpretation:
From the above table it is clear that the employees are not satisfied
with the refreshment facilities offered by the company as 26% of
respondents disagreed and 15% strongly disagreed and 30% neither
agreed nor disagreed and only 29% agreed.

Table No: 16
We are provided with the rest and lunch room and they are good
Frequency

Percent

strongly agree

Agree

16

16

nor 22

22

Disagree

34

34

strongly disagree

20

20

Total

100

100

neither
disagree

agree

46

Chart No: 16
We are provided with the rest and lunch room and they are We are provided with
the good

Interpretation:
From the above table it is quite evident that 24% strongly
disagreed and 30% of the respondents disagreed and 22% neither agreed
nor disagreed and only 24% of the respondents are satisfied with the rest
and lunch room provided.

Table No: 17
The parking space for our vehicles are satisfactory

47

Frequency

Percent

strongly agree

Agree

neither
disagree

agree

nor 24

24

Disagree

32

32

strongly disagree

31

31

Total

100

100

Chart No: 17
The parking space for our vehicles are satisfactory

Interpretation:
From the above table it is clear that respondents are not satisfied
48

with the parking facilities provided by the company as 31% of

respondents strongly disagreed and 32% of respondents disagreed and
only 13% of respondents are satisfied with the parking facilities and 24%
have neither agreed nor disagreed.

Table No: 18
I fell I'm paid a fair amount for the work i do
Frequency

Percent

strongly agree

15

15

Agree

39

39

nor 25

25

Disagree

13

13

strongly disagree

Total

100

100

neither
disagree

agree

Chart No: 18
I fell I'm paid a fair amount for the work i do

49

Interpretation:
From the above table it is evident that the respondents are
satisfied with their salary as 39% agree and 15% strongly agree. Only
`3% disagree and 8% strongly disagree, 25% neither agree nor disagree.

Table No: 19
I'm satisfied with the chances for my promotion

50

Frequency

Percent

strongly agree

27

27

Agree

43

43

nor 13

13

neither
disagree

agree

Disagree

strongly disagree

Total

100

100

Chart No: 19
I'm satisfied with the chances for my promotion

51

Interpretation:
From the above table it is quite clear that employees are satisfied
with their chances for promotion as 43% agree and 27% strongly agree.
Only 9% disagree and 8% strongly disagree, 13% neither agree nor
disagree.

Table No: 20
The salary we receive are good as other organizations offer pay to their
employees
Frequency

Percent

strongly agree

27

27

Agree

37

37

nor 26

26

neither
disagree
Disagree

agree

strongly disagree

Total

100

100

52

Chart No: 20
The salary we receive are good as other organizations offer The salary we
receive are good as

Interpretation:
From the above table it is quite clear that the salary in this
organization is at par to the industry as 37% agree and 27% strongly
agree. Only 6% disagree and 4% strongly disagree, 26% neither agree nor
disagree.

Table No: 21
I'm satisfied with the allownaces provided by the organization

53

Frequency

Percent

strongly agree

19

19

Agree

42

42

nor 21

21

11

11

strongly disagree

Total

100

100

neither
disagree
Disagree

agree

Chart No: 21
I'm satisfied with the allownaces provided by the organization

Interpretation:
From the above table it is clear that the employees are satisfied
54

with the allowances and other benefits provided by the organization as

42% agree and 19% strongly agree. Only 11% disagree and 7% strongly
disagree, 21% neither agree nor disagree.

Table No: 22
I feel my boss motivate me to achieve the organizational goals
Frequency

Percent

strongly agree

11

11

Agree

33

33

nor 25

25

22

22

strongly disagree

Total

100

100

neither
disagree
Disagree

agree

Chart No: 22
I feel my boss motivate me to achieve the organizational goals

55

Interpretation:
From the above table it is evident that employees boss are
motivating to achieve organizational goals as 33% agree and 11%
strongly agree. 22% disagree this is quite high compared to other factors
and 9% strongly disagree and 25% neither agree nor disagree.

Table No: 23
My supervisor motivates me to increase my efficiency at times when i'm not

56

Frequency

Percent

strongly agree

18

18

Agree

44

44

nor 18

18

Disagree

13

13

strongly disagree

Total

100

100

neither
disagree

agree

Chart No: 23
My supervisor motivates me to increase my efficiency at My supervisor motivates
me to increase

Interpretation:
From the above table it is evident that employees boss motivates
the employee when he is unproductive and help him to be productive as
44% agree and 18% strongly agree. Only 7% strongly disagree and 7%
disagree, 18% neither agree nor disagree.

57

.
.

Table No: 24
Overall I'm satisfied with my job
Frequency

Percent

strongly agree

21

21

Agree

33

33

nor 25

25

15

15

strongly disagree

Total

100

100

neither
disagree
Disagree

agree

Chart No: 24
Overall I'm satisfied with my job

58

Interpretation:
From the above table it is evident that Overall satisfactions of the
respondents are good as 33% agree and 21% strongly agree. Only 6%
strongly disagree and 15% disagree and 25% neither agree nor disagree.

DATA ANALYSIS

59

o ONE WAY ANOVA

H0:

There is no significant difference among respondents of various

experience groups with regard to Environment and nature of work factor.

H1:
There is significant difference among respondents of various
experience groups with regard to Environment and nature of work factor

Table No: 34
Environment and Nature of work
Sum of

Df

Mean

Sig

Between

Squares
591

Square
.148

.465

. .761

Groups
Within

30.168

95

. 318

Groups
Total

30.758

99

Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with

60

respect to environment and nature of work.

H0:
There is no significant difference among respondents of various
experience groups with regard to the factor Relationship with supervisors
and colleagues.
H1:
There is significant difference among respondents of various
experience groups with regard to the factor Relationship with supervisors
and colleagues.

Table No: 35
ANOVA
Relationship with supervisors and colleagues
Sum of

df

Mean

Sig.

Between

Squares
1.199

Square
.300

1.273

.286

Groups
Within

22.376

95

236

Groups
Total

23.576

99

Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with

61

respect to Relationship with supervisors and colleagues.

H0:
There is no significant difference among respondents of various
experience groups with regard to the factor Welfare facilities

H1:
There is significant difference among respondents of various
experience groups with regard to the factor Welfare facilities

Table No: 36
ANOVA
Welfare facilities
Sum of

df

Mean

Sig.

Between

Squares
1.741

Square
435

1.441

.227

Groups
Within

28.699

95

.302

Groups
Total

30.440

99

Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with
respect to welfare facilities.

62

H0:
There is no significant difference among respondents of various
experience groups with regard to the factor Pay and Promotion

H1:
There is significant difference among respondents of various
experience groups with regard to the factor Pay and Promotion

Table No: 37
ANOVA
Pay and Promotion
Sum of
Squares

df

Mean

Sig.

Square

63

Between

3.148

787

Groups
Within

35.017

95

.369

Groups
Total

38.165

99

.369

.082

Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with
respect to Pay and promotion.

H0:
There is no significant difference among respondents of various
experience groups with regard to the factor Communication and
Motivation.

H1:
There is significant difference among respondents of various
experience groups with regard to the factor Communication and
Motivation.
Table No: 38
ANOVA
Communication and Motivation

Sum of
Squares

df

Mean

Sig.

Square

64

Between

.937

95

Groups
Within

34.100

95

95

Groups
Total

35.037

95

.652

.627

.
Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with
respect to communication and motivation.

H0:
There is no significant difference among respondents of various
experience groups with regard to Job Factors.

H1:
There is significant difference among respondents of various
experience groups with regard to Job Factors

Table No: 39
ANOVA
job factor
Sum of
Squares

df

Mean

Sig.

Square

65

Between

1.437

.359

Groups
Within

39.360

95

.414

Groups
Total

40.798

99

.867

.487

.
Interpretation:
.
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various experience with
respect to Job factors

H0:
There is no significant difference among respondents of various
Age groups with regard to Job Factors.

H1:
There is significant difference among respondents of various Age
groups with regard to Job Factors.
Table No: 40
ANOVA

Between

Sum of

df

Mean

Sig.

Squares
.007

Square
.004

.009

.991

40.790

97

.421

Groups
Within

66

Groups
Total

40.798

99

.
Interpretation:
Since the significant difference is greater than 0.05 accept null
hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various age groups with
respect to Job factors.

H0:
There is no significant difference among respondents of various
genders with regard to Job Factors.
H1:
There is significant difference among respondents of various
genders with regard to Job Factors.

Table No: 41
Sum of

df

Mean

Sig.

Between

Squares
.036

Square
.038

.086

.770

Groups
Within

40.782

98

.416

Groups
Total

40.798

99

.
Interpretation:

67

Since the significant difference is greater than 0.05 accept null

hypothesis and reject alternate hypothesis which says, there is no
significant difference among respondents of various genders with respect
to Job factors.

Chapter -V
Descriptive Statistics

environment

N
100

minimum
1.40

Maximum
4.20

Mean
2.4960

Std.Deviation
.55740

100

1.00

3.80

2.3620

.48799

and
nature
work
relationship

of

with
supervisors
and
68

colleagues
welfare

100

2.00

4.60

3.4600

.55450

facilities
pay
and 100

1.00

4.00

2.3900

.62089

promotion
communictio

100

1.25

4.00

2.5725

.59490

motivation
job factors
100
Valid
N 100

1.20

4.40

2.5400

.56174

n and

(listwise)

5.1 Findings:
The descriptive statistics table helps us to derive satisfaction level of
employees on various factors:
The respondents are satisfied with the environment and nature of work
factors as their mean value is near to 2.50
The respondents relationship with the superiors and colleagues are quite
good as their mean value is 2.36 is an agreeable level.
The Respondents are not provided with proper welfare facilities thats the
reason the mean value is quite high at 3.46 levels which is disagree level.
The communication and motivation of employees by their superiors in
69

this organization is reasonable as the mean value is 2.57.

The Pay and promotion activities in this organization is also good as their
mean value is 2.4
The Respondents are overall satisfied with their job as their mean value
is 2.54 which is an agreeable level.
The Parking facilities provided by the organization are not good thats
why most respondents disagree with this question.
The refreshment facilities are also need to be improved because most of
the employees are dissatisfied on this factor.
The Rest room facilities in the company are not good and they are not
satisfied with the lunch facilities.
Suggestions:

Questionnaire
A study on Job Satisfaction of Employees in
MAX-NEW YORK LIFE General Insurance Ltd

70

1. Name:

2. Age:
3. Gender: Male Female
4. Monthly Income:
A) Below Rest. 10,000 B) 10,000- 20000 C) 20,000-30000 D) Above
30,000
5. Education Qualification:
A) Under graduation B) Post graduation
6. Marital Status
A) Married B) Unmarried
7. Years of experience:
A) Less than 1yr B) 1-2 yrs C) 2-3 yrs D) 3-4 yrs E) Above 4yrs

Please indicate your level of agreement in connection with various

factors:
1. Strongly agree 2. Agree 3. Neither agree nor disagree 4. Disagree
5. Strongly Disagree
Work Environment and nature of work
S.NO. Particulars
1
1
Working hours are convenient for
2
3

me
Im happy with my work place
The
lighting
and
other
arrangements in

the office are satisfactory

I feel I have too much work to do

71

Im

satisfied

with

the

safety

measures
provided by my company

Relationship with supervisors and colleagues

S.NO. Particulars
1
6
My relationship with my supervisor

is
7
8

Cordial
My supervisor is not partial
My supervisor considers my ideas
too

while making decision

Im satisfied with the support from

10

my coworkers
People here have concern for one
another

and

tend

to

help

one

another

Welfare Facilities
S.NO Particulars
11

Im satisfied with the refreshment

12

facilities
We are provided with the rest and

72

lunch
13

room and they are good

The parking facilities provided for
our

14

vehicles are satisfactory

Im satisfied with the

15

facilities
Im satisfied with the Loan facilities

first

aid

and
other

personal

welfare

benefits

offered by company

Pay and promotion

S.No
16

1
Particulars
I feel Im being paid a fair amount

17

for the work I do

Im satisfied with my chances for

18

promotion
The salaries we receive are good as

other organizations pay to their

19

employees
Im satisfied with the allowances
provided by my organization

Communication and motivation

73

S.

Particulars

No
20

I feel that my Boss motivate me to

21

achieve the organization goal

My supervisor motivates me

to

increase
my efficiency at times when Im not
22

productive
Communication seem good within
this

23

Organization
Work assignments

are explained

clearly to me

Job factors

74

S.NO. Particulars
24
I love my job and to work in this
25
26

Organization
My work life is meaningful
I consider that my work is valuable
in

27

attaining my organizational goals

Have adequate opportunity to use
my

28

Ability
Overall, Im satisfied with my job

SUGGESTION--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

75