A Study To Analyse The Level of Job Satisfaction Among Employees in India Infoline

Rajagiri college of Management and Applied Sciences
INTRODUCTION:
India Infoline Limited
The India Infoline Group (Bloomberg: IIFL), comprising the holding company, India
Infoline Ltd (NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading
players in the Indian financial services space. India Infoline offers advice and execution
platform for the entire gamut of financial services covering products ranging from Equities
and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed
deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It
owns and manages the website, www.indiainfoline.com, which is one of India’s leading
online destinations for personal finance, stock markets, economy and business.
India Infoline has been awarded the ‘Best Broker, India’ by FinanceAsia and the ‘Most
improved brokerage, India’ in the AsiaMoney polls. India Infoline was also adjudged as
‘‘Fastest Growing Equity Broking House - Large firms’ by Dun & Bradstreet. A forerunner
in the field of equity research, India Infoline’s research is acknowledged by none other than
Forbes as ‘Best of the Web’ and ‘…a must read for investors in Asia’. India Infoline’s
research is available not just over the Internet but also on international wire services like
Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most
read Indian brokers.
India Infoline ltd is a one-stop financial services shop, most respected for quality of its
advice, personalised service and cutting-edge technology. The India Infoline group,
comprising the holding company, India Infoline Limited and its wholly-owned subsidiaries,
straddle the entire financial services space with offerings ranging from Equity research,
Equities and derivatives trading, Commodities trading, Portfolio Management Services,
Mutual Funds, Life Insurance, Fixed deposits, GoI bonds and other small savings
instruments to loan products and Investment banking. India Infoline also owns and manages
the websites www.indiainfoline.com and www.5paisa.com The company has a network of
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976 business locations (branches and sub-brokers) spread across 365 cities and towns. It has
more than 800,000 customers.
History of India Infoline ltd:

India Infoline was founded in 1995 by Mr. Nirmal Jain (Chairman and Managing Director)
as an independent business research and information provider. It gradually evolved into a
one-stop financial services solutions provider. The strong management team comprises
competent and dedicated professionals
India Infoline ltd is a pan-India financial services organization across 1,361 business
locations having presence in 428 cities. The global footprint extends across geographies with
offices in New York, Singapore and Dubai. India Infoline ltd is listed on the Bombay Stock
Exchange (BSE) and the National Stock Exchange (NSE).
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INDUSTRIAL PROFILE:
SEBI
ESTABLISHMENT OF SEBI
The Securities and Exchange Board of India was established on April 12, 1992 in
accordance with the provisions of the Securities and Exchange Board of India Act, 1992.
PREAMBLE
The Preamble of the Securities and Exchange Board of India describes the basic functions of
the Securities and Exchange Board of India as
“…..to protect the interests of investors in securities and to promote the

development of, and to regulate the securities market and for matters connected
therewith or incidental thereto”
Stock Broking:
A stock broker or stockbroker is a regulated professional broker who buys and sells shares
and other securities through market makers or Agency Only Firms on behalf of investors.
A transaction on a stock exchange must be made between two members of the exchange —
an ordinary person may not walk into the New York Stock Exchange (for example), and ask
to trade stock. Such an exchange must be done through a broker.
There are three types of stockbroking service.
• Execution-only, which means that the broker will only carry out the client's
instructions to buy or sell.
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• Advisory dealing, where the broker advises the client on which shares to buy and
sell, but leaves the final decision to the investor.
• Discretionary dealing, where the stockbroker ascertains the client's investment
objectives and then makes all dealing decisions on the client's behalf.
Stockbrokers also sometimes or exclusively trade on their own behalf, as a principal,

speculating that a share or other financial instrument will increase or decline in price. In
such cases the term broker makes little sense and the individuals or firms trading in principal
capacity sometimes call themselves dealers, stock traders or simply traders. There are of
many other types of traders within capital markets, for example trading within the Foreign
exchange market.
Portfolio Management System
The art and science of making decisions about investment mix and policy, matching
investments to objectives, asset allocation for individuals and institutions, and balancing risk
against performance. Portfolio Management is all about strengths, weaknesses, opportunities
and threats in the choice of debt Vs equity, domestic Vs international, growth Vs safety, and
many other trade offs encountered in the attempt to maximise return at a given appetite for
risk.
Wealth Advisory services
Wealth management is an investment advisory discipline that incorporates financial

planning, investment portfolio management and a number of aggregated financial
services. High net worth individuals, small business owners and families who desire the
assistance of a credentialed financial advisory specialist call upon wealth managers to
coordinate retail banking, estate planning, legal resources, tax professionals and investment
management. Wealth managers can be independent certified financial planners, MBAs, CFA
Charterholders or any credentialed professional money manager who works to enhance the
income, growth and tax favored treatment of long-term investors. One must already have
accumulated a significant amount of wealth for wealth management strategies to be
effective.
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Wealth management can be provided by large corporate entities, independent financial

advisers or multi-licensed portfolio managers whose services are designed to focus on high-
net worth customers. Large banks and large brokerage houses create segmentation
marketing-strategies to sell both proprietary and nonproprietary products and services to
investors designated as potential high net-worth customers. Independent wealth managers
use their experience in estate planning, risk management,and their affiliations with tax and
legal specialists, to manage the diverse holdings of high net worth clients. Banks and
brokerage firms use advisory talent pools to aggregate these same services.
Mutual fund
A mutual fund is a professionally managed type of collective investment scheme that pools
money from many investors and invests it in stocks, bonds, short-term money market
instruments, and/or other securities. The mutual fund will have a fund manager that trades
the pooled money on a regular basis. The net proceeds or losses are then typically distributed
to the investors annually.
Since 1940, there have been three basic types of investment companies in the United States:
open-end funds, also known in the U.S. as mutual funds; unit investment trusts (UITs); and
closed-end funds. Similar funds also operate in Canada. However, in the rest of the world,
mutual fund is used as a generic term for various types of collective investment vehicles,
such as unit trusts, open-ended investment companies (OEICs), unitized insurance funds,
and undertakings for collective investments in transferable securities (UCITS).
Insurance
Insurance, in law and economics, is a form of risk management primarily used to hedge
against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk
of a loss, from one entity to another, in exchange for a premium, and can be thought of as a
guaranteed and known small loss to prevent a large, possibly devastating loss. An insurer is
a company selling the insurance; an insured or policyholder is the person or entity buying
the insurance. The insurance rate is a factor used to determine the amount to be charged for a
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certain amount of insurance coverage, called the premium. Risk management, the practice of
appraising and controlling risk, has evolved as a discrete field of study and practice.
The six principles of insurance are:
1. Indemnity – Insurance is a contract of indemnity where the insurance company

indemnifies the insured against certain risks for a consideration known as premium.
2. Insurable interest – means the loss of which will directly affect the insured.
3. Utmost good faith – means that the insured and the insurance company will not
willfully hide anything from each other.
4. Mitigation – means the insured will not behave irresponsibly and will take due care
so that the risk of loss or the loss is minimized.
5. Subrogation – means the insurance company acquires legal rights to act on behalf of
the insured i.e. the insurance company steps into the shoes of the insured.
6. Causa Proxima or Proximate Cause – means the proximate cause of loss to
ascertain whether the loss is covered under the policy.
Insurance companies may be classified into two groups:
• Life insurance companies, which sell life insurance, annuities and pensions products.
• Non-life, General, or Property/Casualty insurance companies, which sell other types
of insurance.
General insurance companies can be further divided into these sub categories.
• Standard Lines
• Excess Lines
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COMPANY PROFILE:
India Infoline Limited is listed on both the leading stock exchanges in India, viz. the Stock
Exchange, Mumbai (BSE) and the National Stock Exchange (NSE) and is also a member of
both the exchanges. It is engaged in the businesses of Equities broking, Wealth Advisory
Services and Portfolio Management Services. It offers broking services in the Cash and
Derivatives segments of the NSE as well as the Cash segment of the BSE. It is registered
with NSDL as well as CDSL as a depository participant, providing a one-stop solution for
clients trading in the equities market. It has recently launched its Investment banking and
Institutional Broking business.
Departments:
India Infoline Media and Research Services Limited:

The content services represent a strong support that drives the broking, commodities, mutual
fund and portfolio management services businesses. Revenue generation is through the sale
of content to financial and media houses, Indian as well as global.
India Infoline Commodities Limited:

India Infoline Commodities Pvt Limited is engaged in the business of commodities broking.
India infoline enjoy memberships with the MCX and NCDEX, two leading Indian
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commodities exchanges, and recently acquired membership of DGCX. The company has a
multi-channel delivery model, making it among the select few to offer online as well as
offline trading facilities.
India Infoline Marketing & Services:

India Infoline Marketing and Services Limited is the holding company of India Infoline
Insurance Services Limited and India Infoline Insurance Brokers Limited.
(a) India Infoline Insurance Services Limited is a registered Corporate Agent with the
Insurance Regulatory and Development Authority (IRDA). It is the largest Corporate
Agent for ICICI Prudential Life Insurance Co Limited, which is India's largest
private Life Insurance Company. India Infoline was the first corporate agent to get
licensed by IRDA in early 2001.
(b) India Infoline Insurance Brokers Limited is a newly formed subsidiary which will
carry out the business of Insurance broking. We have applied to IRDA for the
insurance broking licence and the clearance for the same is awaited. Post the grant of
license, we propose to also commence the general insurance distribution business.
India Infoline Investment Services Limited:

Consolidated shareholdings of all the subsidiary companies engaged in loans and financing
activities under one subsidiary. Recently, Orient Global, a Singapore-based investment
institution invested USD 76.7 million for a 22.5% stake in India Infoline Investment
Services. This will help focused expansion and capital raising in the said subsidiaries for
various lending businesses like loans against securities, SME financing, distribution of retail
loan products, consumer finance business and housing finance business. India Infoline
Investment Services Private Limited consists of the following step-down subsidiaries.
(a) India Infoline Distribution Company Limited (distribution of retail loan products)
(b) Moneyline Credit Limited (consumer finance)
(c) India Infoline Housing Finance Limited (housing finance)
IIFL (Asia) Pte Limited:
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IIFL (Asia) Pte Limited is wholly owned subsidiary which has been incorporated in
Singapore to pursue financial sector activities in other Asian markets. Further to obtaining
the necessary regulatory approvals, the company has been initially capitalized at 1 million
Singapore dollars.
Milestones:
1995
Incorporated as an equity research and consulting firm with a client base that included
leading FIIs, banks, consulting firms and corporate.
1999
Restructured the business model to embrace the internet; launched
archives.indiainfoline.com mobilised capital from reputed private equity investors.
2000
Commenced the distribution of personal financial products; launched online equity trading;
entered life insurance distribution as a corporate agent. Acknowledged by Forbes as ‘Best of
the Web’ and ‘...must read for investors’.
2004
Acquired commodities broking license; launched Portfolio Management Service.
2005
Listed on the Indian stock markets.
2006
Acquired membership of DGCX; launched investment banking services.
2007
Launched a proprietary trading platform; inducted an institutional equities team; formed a
Singapore subsidiary; raised over USD 300 mn in the group; launched consumer finance
business under the ‘Moneyline’ brand.
2008
Launched wealth management services under the ‘IIFL Wealth’ brand; set up India Infoline
Private Equity fund; received the Insurance broking license from IRDA; received the
venture capital license; received inprinciple approval to sponsor a mutual fund; received
‘Best broker- India’ award from FinanceAsia; ‘Most Improved Brokerage- India’ award
from Asiamoney.
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2009
Received registration for a housing finance company from the National Housing Bank;
received ‘Fastest growing Equity Broking House - Large firms’ in India by Dun &
Bradstreet.
Services:
a. Share broking
b. Insurance
c. Mutual fund
d. Portfolio management system (PMS)
e. Venue marketing
f. Credit loans
1. Housing loan
2. Personal loan
Promoters:
1. Mr. Nirmal Jain (Chairman and Managing Director)
2. Mr R Venkataraman (Executive Director)
3. Mr Sat Pal Khattar (Non executive director)
4. Mr Nilesh Vikamsey (Independent director)
5. Mr Kranti Sinha (Independent Director)
6. Mr A K Purwar (Independent Director)
Objective of India Infoline:

To become the most respected player in financial services space.
Global presence of India Infoline limited:

China, Brazil, Dubai, Russia, Singapore, UK, USA
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Organisation chart:
Board of directors
Committee of board
Share transfer and investor grievance committee
Chief financial officer
Core management team
Auditors
Internal auditors
Registrar and Share transfer agents
Registered office
Bankers
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INTRODUCTION
The topic is “a study to analyse the job satisfaction of employees of India Infoline” with
reference to India Infoline, Cochin. Job satisfaction is the content of satisfaction an
employee has toward his job. A happy employee is always satisfied with the job he has. Job
satisfaction is a very important aspect for bringing up the prestige of a company. The
backbone of a particular company is its employees and their satisfaction over the job and the
company is very much important for the smooth working of the company.
Job dissatisfaction happens when the employees are not satisfied with the job they are doing.
This would make their loyalty toward the company less. It has a negative reaction toward the
company. It leads to high absenteeism, high employee turnover, industrial disputes like
strikes, lockouts, gheraos etc. This would affect the public image of the company.
As companies are of different types the level of job satisfaction in each should vary. The
company selected for the project is India Infoline, which deals with share broking, wealth
advisories and portfolio management. It belongs to the service sector industry and is
controlled by SEBI. In such companies the job to be done is tedious and the employees must
be concentrating on their jobs completely. Job satisfaction is a very important aspect in such
issues. They should be happy with their jobs to keep on working in the same company.
Productive employees must be retained in the company. This justifies the need for Job
satisfaction in the organisation.
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JOB SATISFACTION
It had often been said that “A HAPPY EMPLOYEE IS A PRODUCTIVE

EMPLOYEE”. A happy employee is generally, that employee who is satisfied with his job.
Job satisfaction is very important because most of the people spend a major portion of their
life at their working place. Moreover, job satisfaction has its impact on the general life of the
employees also, because a satisfied employee is a contented and happy human being. A
highly satisfied employee has better physical and mental well being.
Job satisfaction is simply how people feel about their jobs and different aspects of their jobs.
It is the extent to which people like (satisfaction) or dislike (dissatisfaction) their jobs. As it
is generally assessed, job satisfaction is an attitudinal variable. In the past, job satisfaction
was approached by some researchers from the perspective of need fulfilment- that is,
whether or not the job met the employees physical and psychological needs for the things
provided by work such as pay. However, this approach has been de-emphasized because
today most researchers tend to focus attention on cognitive processes rather than on
underlying needs. The attitudinal perspective has become the predominant one in the study
of job satisfaction.
Job satisfaction describes how content an individual is with his or her job. The happier
people are within their job, the more satisfied they are said to be. Job satisfaction is not the
same as motivation, although it is clearly linked. Job design aims to enhance job satisfaction
and performance; methods include job rotation, job enlargement and job enrichment. Other
influences on satisfaction include the management style and culture, employee involvement,
empowerment and autonomous work groups. Job satisfaction is a very important attribute
which is frequently measured by organizations. The most common way of measurement is
the use of rating scales where employees report their reactions to their jobs. Questions relate
to rate of pay, work responsibilities, variety of tasks, promotional opportunities the work
itself and co-workers. Some questioners ask yes or no questions while others ask to rate
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satisfaction on 1-5 scale (where 1 represents "not at all satisfied" and 5 represents
"extremely satisfied").
Job satisfaction can be considered as a global feeling about the job or as a related
constellation of attitudes about various aspects or facets of the job. The global approach is
used when the overall or bottom line attitude is of interest.
Job Satisfaction can be an important indicator of how employees feel about their jobs and a
predictor of work behaviours such as organizational citizenship, absenteeism, and turnover.
Further, job satisfaction can partially mediate the relationship of personality variables and
deviant work behaviors.
One common research finding is that job satisfaction is correlated with life satisfaction. This
correlation is reciprocal, meaning people who are satisfied with life tend to be satisfied with
their job and people who are satisfied with their job tend to be satisfied with life. However,
some research has found that job satisfaction is not significantly related to life satisfaction
when other variables such as nonwork satisfaction and core self-evaluations are taken into
account.
An important finding for organizations to note is that job satisfaction has a rather tenuous
correlation to productivity on the job. This is a vital piece of information to researchers and
businesses, as the idea that satisfaction and job performance are directly related to one
another is often cited in the media and in some non-academic management literature. A
recent meta-analysis found an average uncorrected correlation between job satisfaction and
productivity to be r=.18; the average true correlation, corrected for research artifacts and
unreliability, was r=.30. Further, the meta-analysis found that the relationship between
satisfaction and performance can be moderated by job complexity, such that for high-
complexity jobs the correlation between satisfaction and performance is higher (ρ=.52) than
for jobs of low to moderate complexity (ρ=.29). In short, the relationship of satisfaction to
productivity is not necessarily straightforward and can be influenced by a number of other
work-related constructs, and the notion that "a happy worker is a productive worker" should
not be the foundation of organizational decision-making.
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With regard to job performance, employee personality may be more important than job
satisfaction. The link between job satisfaction and performance is thought to be a spurious
relationship; instead, both satisfaction and performance are the result of personality
Job satisfaction is a result of employee’s perception of how well their jobs provide those
things which are viewed important. Job satisfaction is considered the most important and is
frequently studied.
There are three important dimensions in job satisfaction:
a. Job satisfaction cannot be seen, it can only be inferred. It relates to one’s feeling
towards one’s job.
b. Job satisfaction is often determined by how will outcome meet expectations or
exceed the expectations. If the employee working in the organisation feels that they
are working much harder than others in the department but are receiving lower
rewards, they will be dissatisfied and have a negative attitude towards the job, the
boss and the workers. On the other hand, if they feel that they are being paid fairly
and treated well by the organisation, they will be satisfied with their jobs and will
have positive attitudes.
c. Job satisfaction and job attitudes are typically used interchangeably. Positive
attitudes toward the jobs are conceptually equivalent to job satisfaction and negative
attitudes towards the job indicate job dissatisfaction.
Definitions:
Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of one’s job; an affective reaction to one’s job; and an attitude towards one’s job.
Weiss (2002) has argued that job satisfaction is an attitude but points out that researchers
should clearly distinguish the objects of cognitive evaluation which are affect (emotion),
beliefs and behaviours. This definition suggests that we form attitudes towards our jobs by
taking into account our feelings, our beliefs, and our behaviors.
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Assessment of job satisfaction:

Job satisfaction is usually measured with interviews or questionnaires administered to the
job incumbents in question. Although interviews are used in some cases, most research is
done with questionnaires. This is because interviews are expensive and time consuming to
conduct. One can survey a large number of people with a paper-and-pencil questionnaire
with very little effort or expense. Furthermore, it is easy to quantify and standardise
questionnaire responses. However it is possible to get more extensive information in an
interview, as respondents can elaborate about the issues that they are discussing.
There are many methods for measuring job satisfaction. By far, the most common method
for collecting data regarding job satisfaction is the Likert scale (named after Rensis Likert).
Other less common methods of for gauging job satisfaction include: Yes/No questions,
True/False questions, point systems, checklists, and forced choice answers. This data is
typically collected using an Enterprise Feedback Management (EFM) system.
The Job Descriptive Index (JDI), created by Smith, Kendall, & Hulin (1969), is a specific
questionnaire of job satisfaction that has been widely used. It measures one’s satisfaction in
five facets: pay, promotions and promotion opportunities, coworkers, supervision, and the
work itself. The scale is simple, participants answer either yes, no, or can’t decide (indicated
by ‘?’) in response to whether given statements accurately describe one’s job.
The Job in General Index is an overall measurement of job satisfaction. It is an improvement

to the Job Descriptive Index because the JDI focuses too much on individual facets and not
enough on work satisfaction in general.
Other job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire

(MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The MSQ measures job
satisfaction in 20 facets and has a long form with 100 questions (five items from each facet)
and a short form with 20 questions (one item from each facet). The JSS is a 36 item
questionnaire that measures nine facets of job satisfaction. Finally, the Faces Scale of job
satisfaction, one of the first scales used widely, measured overall job satisfaction with just
one item which participants respond to by choosing a face.
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History:
One of the biggest preludes to the study of job satisfaction was the Hawthorne studies. These
studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business School,
sought to find the effects of various conditions (most notably illumination) on workers’
productivity. These studies ultimately showed that novel changes in work conditions
temporarily increase productivity (called the Hawthorne Effect). It was later found that this
increase resulted, not from the new conditions, but from the knowledge of being observed.
This finding provided strong evidence that people work for purposes other than pay, which
paved the way for researchers to investigate other factors in job satisfaction.
Scientific management (aka Taylorism) also had a significant impact on the study of job
satisfaction. Frederick Winslow Taylor’s 1911 book, Principles of Scientific Management,
argued that there was a single best way to perform any given work task. This book
contributed to a change in industrial production philosophies, causing a shift from skilled
labor and piecework towards the more modern approach of assembly lines and hourly
wages. The initial use of scientific management by industries greatly increased productivity
because workers were forced to work at a faster pace. However, workers became exhausted
and dissatisfied, thus leaving researchers with new questions to answer regarding job
satisfaction. It should also be noted that the work of W.L. Bryan, Walter Dill Scott, and
Hugo Munsterberg set the tone for Taylor’s work.
Some argue that Maslow’s hierarchy of needs theory, a motivation theory, laid the
foundation for job satisfaction theory. This theory explains that people seek to satisfy five
specific needs in life – physiological needs, safety needs, social needs, self-esteem needs,
and self-actualization. This model served as a good basis from which early researchers could
develop job satisfaction theories.
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Models of job satisfaction
Affect Theory
Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous job
satisfaction model. The main premise of this theory is that satisfaction is determined by a
discrepancy between what one wants in a job and what one has in a job. Further, the theory
states that how much one values a given facet of work (e.g. the degree of autonomy in a
position) moderates how satisfied/dissatisfied one becomes when expectations are/aren’t
met. When a person values a particular facet of a job, his satisfaction is more greatly
impacted both positively (when expectations are met) and negatively (when expectations are
not met), compared to one who doesn’t value that facet. To illustrate, if Employee A values
autonomy in the workplace and Employee B is indifferent about autonomy, then Employee
A would be more satisfied in a position that offers a high degree of autonomy and less
satisfied in a position with little or no autonomy compared to Employee B. This theory also
states that too much of a particular facet will produce stronger feelings of dissatisfaction the
more a worker values that facet.
Dispositional Theory
Another well-known job satisfaction theory is the Dispositional Theory. It is a very general
theory that suggests that people have innate dispositions that cause them to have tendencies
toward a certain level of satisfaction, regardless of one’s job. This approach became a
notable explanation of job satisfaction in light of evidence that job satisfaction tends to be
stable over time and across careers and jobs. Research also indicates that identical twins
have similar levels of job satisfaction.
A significant model that narrowed the scope of the Dispositional Theory was the Core Self-
evaluations Model, proposed by Timothy A. Judge in 1998. Judge argued that there are four
Core Self-evaluations that determine one’s disposition towards job satisfaction: self-esteem,
general self-efficacy, locus of control, and neuroticism. This model states that higher levels
of self-esteem (the value one places on his/her self) and general self-efficacy (the belief in
one’s own competence) lead to higher work satisfaction. Having an internal locus of control
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(believing one has control over her\his own life, as opposed to outside forces having control)
leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job
satisfaction.
Two-Factor Theory (Motivator-Hygiene Theory)
Frederick Herzberg’s Two factor theory (also known as Motivator Hygiene Theory)
attempts to explain satisfaction and motivation in the workplace This theory states that
satisfaction and dissatisfaction are driven by different factors – motivation and hygiene
factors, respectively. An employee’s motivation to work is continually related to job
satisfaction of a subordinate. Motivation can be seen as an inner force that drives individuals
to attain personal and organization goals (Hoskinson, Porter, & Wrench, p.133). Motivating
factors are those aspects of the job that make people want to perform, and provide people
with satisfaction, for example achievement in work, recognition, promotion opportunities.
These motivating factors are considered to be intrinsic to the job, or the work carried out.
Hygiene factors include aspects of the working environment such as pay, company policies,
supervisory practices, and other working conditions.
While Hertzberg's model has stimulated much research, researchers have been unable to
reliably empirically prove the model, with Hackman & Oldham suggesting that Hertzberg's
original formulation of the model may have been a methodological artifact. Furthermore, the
theory does not consider individual differences, conversely predicting all employees will
react in an identical manner to changes in motivating/hygiene factors.[5] Finally, the model
has been criticised in that it does not specify how motivating/hygiene factors are to be
measured.
Job Characteristics Model
Hackman & Oldham proposed the Job Characteristics Model, which is widely used as a
framework to study how particular job characteristics impact on job outcomes, including job
satisfaction. The model states that there are five core job characteristics (skill variety, task
identity, task significance, autonomy, and feedback) which impact three critical
psychological states (experienced meaningfulness, experienced responsibility for outcomes,
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and knowledge of the actual results), in turn influencing work outcomes (job satisfaction,
absenteeism, work motivation, etc.). The five core job characteristics can be combined to
form a motivating potential score (MPS) for a job, which can be used as an index of how
likely a job is to affect an employee's attitudes and behaviors----. A meta-analysis of studies
that assess the framework of the model provides some support for the validity of the JCM.
Communication overload and communication overload
One of the most important aspects of an individual’s work in a modern organization

concerns the management of communication demands that he or she encounters on the job
(Krayer, K. J., & Westbrook, L., p. 85). Demands can be characterized as a communication
load, which refers to “the rate and complexity of communication inputs an individual must
process in a particular time frame (Faraca, Monge, & Russel, 1977).” Individuals in an
organization can experience communication over-load and communication under- load
which can affect their level of job satisfaction. Communication overload can occur when “an
individual receives too many messages in a short period of time which can result in
unprocessed information or when an individual faces more complex messages that are more
difficult to process (Farace, Monge, & Russel, 1997).” Due to this process, “given an
individual’s style of work and motivation to complete a task, when more inputs exist than
outputs, the individual perceives a condition of overload (Krayer, K. J., & Westbrook, L., p.
86) which can be positively or negatively related to job satisfaction. In comparison,
communication under load can occur when messages or inputs are sent below the
individual’s ability to process them (Farace, Monge, & Russel, 1997).” According to the
ideas of communication over-load and under-load, if an individual does not receive enough
input on the job or is unsuccessful in processing these inputs, the individual is more likely to
become dissatisfied, aggravated, and unhappy with their work which leads to a low level of
job satisfaction.
Superior-Subordinate Communication
Superior-subordinate communication is an important influence on job satisfaction in the

workplace. The way in which subordinate’s perceive a supervisor’s behavior can positively
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or negatively influence job satisfaction. Communication behavior such as facial expression,

eye contact, vocal expression, and body movement is crucial to the superior-subordinate
relationship. Nonverbal messages play a central role in interpersonal interactions with
respect to impression formation, deception, attraction, social influence, and emotional
expression (Burgoon, Buller, & Woodall, 1996). Nonverbal immediacy from the supervisor
helps to increase interpersonal involvement with their subordinates impacting job
satisfaction. The manner in which supervisors communicate their subordinates may be more
important than the verbal content . Individuals who dislike and think negatively about their
supervisor are less willing to communicate or have motivation to work where as individuals
who like and think positively of their supervisor are more likely to communicate and are
satisfied with their job and work environment. The relationship of a subordinate with their
supervisor is a very important aspect in the workplace. Therefore, a supervisor who uses
nonverbal immediacy, friendliness, and open communication lines is more willing to receive
positive feedback and high job satisfaction from a subordinate where as a supervisor who is
antisocial, unfriendly, and unwilling to communicate will naturally receive negative
feedback and very low job satisfaction from their subordinate’s in the workplace..
Job satisfaction and emotions
Mood and emotions while working are the raw materials which cumulate to form the
affective element of job satisfaction. (Weiss and Cropanzano, 1996). Moods tend to be
longer lasting but often weaker states of uncertain origin, while emotions are often more
intense, short-lived and have a clear object or cause.
There is some evidence in the literature that state moods are related to overall job
satisfaction. Positive and negative emotions were also found to be significantly related to
overall job satisfaction
Frequency of experiencing net positive emotion will be a better predictor of overall job
satisfaction than will intensity of positive emotion when it is experienced.
Emotion regulation and emotion labor are also related to job satisfaction. Emotion work (or
emotion management) refers to various efforts to manage emotional states and displays.
Emotion regulation includes all of the conscious and unconscious efforts to increase,
- 21 -
maintain, or decrease one or more components of an emotion. Although early studies of the
consequences of emotional labor emphasized its harmful effects on workers, studies of
workers in a variety of occupations suggest that the consequences of emotional labor are not
uniformly negative.
It was found that suppression of unpleasant emotions decreases job satisfaction and the
amplification of pleasant emotions increases job satisfaction. The understanding of how
emotion regulation relates to job satisfaction concerns two models:
1. Emotional dissonance. Emotional dissonance is a state of discrepancy between

public displays of emotions and internal experiences of emotions that often follows
the process of emotion regulation. Emotional dissonance is associated with high
emotional exhaustion, low organizational commitment, and low job satisfaction.
2. Social interaction model. Taking the social interaction perspective, workers’ emotion
regulation might beget responses from others during interpersonal encounters that
subsequently impact their own job satisfaction. For example: The accumulation of
favourable responses to displays of pleasant emotions might positively affect job
satisfaction. Performance of emotional labour that produces desired outcomes could
increase job satisfaction.
Factors influencing Job satisfaction:
a. Organisational factors
b. Work environmental factors
c. Work itself
d. Personal factors
A. Organisational factors:
Some organisational factors which affect job satisfaction are:
1. Salaries and wages
- 22 -
Wages and salaries play a significant role in influencing job satisfaction. This is
basically because of a few basic reasons. Firstly, money is an important instrument in
fulfilling one’s needs. Money also satisfies the first level needs of Maslow’s model
of satisfaction. Secondly, employees often see money as a reflection of the
managements concern for them. Thirdly, it is considered a symbol of achievement
since higher pay reflects higher degree of contribution towards organisational
operations. Non monetary benefits are also important but they are not as influential.
One reason for that is that most of the employees do not even know how much they
are receiving in benefits. Moreover, a few tend to undervalue their benefits because
they do not realise their monetary value. The employees, generally, want a pay
system which is simple, fair and inline with their expectations.
2. Promotion chances
Firstly, promotion indicates an employee’s worth to the organisation which is high

morale boosting. This is particularly true in case of high level jobs. Secondly,
employee takes promotion as the ultimate achievement in his career and when it is
realised, he feels extremely satisfied. Thirdly, promotion involves positive changes
e.g. higher salary, less supervision, more freedom, more challenging work
assignments, increased responsibilities, status and like.
3. Company policies
Organisational structure and policies also play an important role in affecting the job
satisfaction of employees. An autocratic and highly authoritative structure causes
resentment among the employees as compared to a structure which is more open and
democratic in nature. Organisational policies also govern the human behaviour in the
organisations. These policies can generate positive or negative feelings towards the
organisation. Liberal and fair policies usually result in more job satisfactions. Strict
policies will create dissatisfaction among the employees because they feel that they
are not being treated fairly and may feel constrained. Thus, a democratic
- 23 -
organisational structure with fair and liberal policies is associated with high job
satisfaction.
B. Work environmental factors
The work environmental factors include the following important factors:
1. Supervision
Supervision is a moderately important source of job satisfaction. There are two

dimensions of supervisory styles which affect the fob satisfaction. First is employee
centeredness. Whenever the supervisor is friendly and supportive of the workers
there is job satisfaction. In this style the supervisor takes personal interest in
employee’s welfare. Second is participation. The superiors, who allow their
subordinates to participate in decisions that affect their own jobs, help in creating an
environment which is highly conducive to job satisfaction. Thus, the supervisors who
establish a supportive personal relationship with subordinates and take personal
interest in them contribute to the employee’s satisfaction.
2. Work group
A friendly and co-operative group provides opportunities to the group members to

interact with each other. It serves as a source of support, comfort, advice and
assistance to the individual group members. If on the other hand, the people are
difficult to get along with, the work group will have a negative impact on job
satisfaction. The work group will be even a stronger source of satisfaction when
members have similar attitudes and values. In such a group, there will be less friction
on day to day basis. Smaller groups provide greater opportunity for building mutual
trust and understanding as compared to larger groups. Thus group size and quality of
interpersonal relations within the group play a significant role in worker’s
satisfaction.
3. Working conditions
- 24 -
Good working conditions are desirable by the employees, as they lead to more
physical comfort. People desire that there should be clean and healthy working
environment. Temperature, humidity, ventilation, lighting and noise, hours of work,
cleanliness of the work place and adequate tools and equipment are the features
which affect job satisfaction. Poor working conditions do become a source of job
dissatisfaction. Simply they lead to physical discomfort and physical danger.
C. Work itself
The content of the work itself plays a major role in determining the level of job satisfaction.
Some of the aspects of job satisfaction are
1. Job scope
It provides the amount of responsibility, work pace and feedback. The higher the
level of these factors, higher the job scope and higher the level of satisfaction.
2. Variety
A moderate amount of variety is very effective. Excessive variety produces

confusion and stress and too little variety causes monotony and fatigue which are
dissatisfiers.
3. Lack of Autonomy and Freedom
Lack of autonomy and freedom over work methods and work pace can create
helplessness and dissatisfaction. Employees do not like it when their every step and
every action are determined by their supervisor.
4. Role ambiguity and role conflict
Role ambiguity and role conflict also lead to confusion and job dissatisfaction
because employees do not know exactly what their task is and what is expected of
them.
- 25 -
5. Interesting work
A work which is very interesting, challenging and provides status will be providing
satisfaction to the employees as compared to work which is boring and monotonous.
D. Personal factors
Personal attributes of individuals also play a very important role as to whether they are
satisfied at the job or not. Pessimists and people with negative attitudes will complain about
everything including the job. They will always find something wrong in every job to
complain about. Some important personal factors are:
1. Age and Seniority
With age, people become more mature and realistic and less idealistic so that they
are willing to accept available resources and rewards and be satisfied about the
position. With the passage of time, people move into more challenging and
responsible positions. People who do not move up at all with time are more likely to
be dissatisfied with their jobs.
2. Tenure
Employees with longer tenure are expected to be highly satisfied with their jobs.
Tenure assures job security, which is highly satisfactory to employees. They can
easily plan for their future without any fear of losing their jobs.
3. Personality
Some of the personality traits which are directly related to job satisfaction are self
assurance, self esteem, and maturity, and decisiveness, sense of autonomy, challenge
and responsibility. Higher the person is on Maslow’s needs hierarchy, the higher is
the job satisfaction. This type of satisfaction comes from within the person and is a
function of his personality.
- 26 -
Job satisfaction and Employee turnover:
There is moderate relationship between job satisfaction and employee turnover. High
employee turnover is a matter of concern for the management as it disrupts the normal
operations and continuous replacement of employees who leave the organisation is costly
and technically undesirable. Managerial concern is mostly for the turnover which arises
because of job dissatisfaction. The employers, thus, tries to keep the employees satisfied on
their jobs to minimise the turnover. Though, high job satisfaction in itself cannot keep the
turnover low, but considerable job dissatisfaction will definitely increase the employee
turnover.
Job satisfaction and Absenteeism:
It has been conclusively proved that there is an inverse relationship between job satisfaction
and absenteeism. When satisfaction is high, absenteeism is low and when satisfaction is low,
absenteeism is high. Less satisfied employees are more likely to be absent from work due, to
avoidable reasons. This is known as voluntary absenteeism as against unavoidable reasons.
This is known as voluntary absenteeism as against unavoidable absenteeism which is due to
illness or other emergency reasons. Management must be concerned with voluntary
absenteeism, because it is related to job satisfaction.
JOB DISSATISFACTION
Job dissatisfaction is frequently caused by the following factors.
1. Low pay and/or promotion chances

2. Monotonous and boring work
3. Feeling of inequity
4. Unfavourable working environment
5. Personal attributes of the employees
- 27 -
TITLE OF STUDY
A study to analyse the level of job satisfaction among the employees of India Infoline,
with special reference to Cochin branch.
INTRODUCTION
Job satisfaction has been defined as a pleasurable emotional state resulting from the
appraisal of one’s job (Locke); an affective reaction to one’s job (Cranny Smith &Stone);
and an attitude towards one’s job.
Job satisfaction describes how content an individual is with his or her job.
The happier the people are within their job, the more satisfied they are said to be. Job
satisfaction is not the same as motivation, although it is clearly linked. Job design aims to
enhance job satisfaction and performance; methods include job rotation, job enlargement
and job enrichment. Other influences on satisfaction include the management style and
culture, employee involvement, empowerment and autonomous work groups. Job
satisfaction is a very important attribute which is frequently measured by organisations.
STATEMENT OF THE PROBLEM
The Cochin branch of India Infoline has about 52 employees working. Each person has
his/her own perception about the job they are doing and the job which they actually wish to
do. Many employees like their jobs and many don’t. The project is focussed on finding the
reason for the dissatisfaction or the satisfaction of the employees over particular jobs in the
company.
SIGNIFICANCE OF STUDY
1. To study if the employees are well satisfied with the information and feedback they
receive from their superiors over their job performance.
2. To study about the variety in activities a particular job gives.
- 28 -
3. To study of about the freedom of an employee over a particular job.

4. To study if the employees are satisfied with the pay they receive.
5. To study the work relationships.
OBJECTIVES
• General Objectives
To analyse the level of job satisfaction among the employees of India Infoline,
with special reference to Cochin branch.
• Specific Objectives
1. To study the extent of clarity and the role of information in

increasing the level of satisfaction.
2. To study the extent of satisfaction in relation to variety in job.
3. To understand the role played by work environment, remuneration,
incentives and benefits given by the company, in job satisfaction.
4. To understand the role of positive work relationship on job
satisfaction.
DATA COLLECTION
• Primary data collection – Questionnaire based on scaling (rating)
• Secondary data collection - Internet and books
TOOLS OF DATA ANALYSIS

The primary data of the study is collected using Questionnaires only. Convenience
sampling has been done for the distribution of the questionnaires.
Internet and books have been used for the collection of secondary data.
- 29 -
RESEARCH DESIGN
This project follows Descriptive research design as the title of study is mainly focused with
the identification of the problem in hand measuring their influence and devising
means/nodes to control such influence.
POPULATION
India Infoline, Cochin branch has 45 employees working in it.
SAMPLE SIZE
Out of the total population, a sample size of 37 employees was taken for survey.
LIMITATION OF THE STUDY

This project dealt with a few limitations in gathering necessary data which involved in
completion of the project. A few limitations are mentioned below:
• Lack of co-operation from some of the respondents.

• Hefty time schedule of the employees of the organisation, restricted the duration of
interview.
- 30 -
Table 3.1 – Showing the satisfaction on the adequacy of the information received for
performing the job
Frequency Percentage
Extremely Dissatisfied 1 3%
Dissatisfied 0 0%
Somewhat Satisfied 21 57%
Satisfied 13 35%
Extremely Satisfied 2 5%
Total 37 100%
Diagram 3.1 - Showing the satisfaction on the adequacy of the information received for
performing the job
3%
5%
0%
Extremely Dissatisfied
Dissatisfied
35%
Somewhat Satisfied
Satisfied
57% Extremely Satisfied
Inference: Majority of the respondents are only satisfactory with the information that they
receive, while a very small minority of the respondents are extremely
dissatisfied.
.
- 31 -
Table 3.2 – Showing the satisfaction over the feedback given by branch heads
Dissatisfied 3 8%
Satisfied 15 41%
Total 37 100%
Diagram 3.2 - Showing the satisfaction over the feedback given by branch heads
0% 8%
19%
Dissatisfied
32% Somewhat Satisfied
Satisfied
Extremely Satisfied
41%
Inference: Majority of the respondents are satisfied. While a small minority (8 per cent) of
the respondents are dissatisfied with the feed back that they receive from their
superiors.
- 32 -
Table 3.3 – Showing the satisfaction over the opportunities given by the company to
improve the job done
Dissatisfied 6 16%
Satisfied 12 32%
Total 37 100%
Diagram 3.3 - Showing the satisfaction over the opportunities given by the company to
improve the job done
3%
22% 16%
Dissatisfied
Somewhat Satisfied
Satisfied
32%
Inference: Majority of the respondents are satisfied with the oppurtunities given by the
company in improving the job done, while a very small minority is extremely
dissatisfied.
- 33 -
Table 3.4 – Showing the satisfaction on the clarity of the information received
Dissatisfied 5 14%
Satisfied 15 40%
Total 37 100%
Diagram 3.4 - Showing the satisfaction on the clarity of the information received
11% 0%
14%
Dissatisfied
Somewhat Satisfied
Satisfied
40% 35% Extremely Satisfied
Inference: Majority of the respondents (40 per cent) are satisfied with the clarity of
information received, while none of the respondents are extremely dissatisfied.
- 34 -
Table 3.5 - Showing the satisfaction level of employees on the position they hold is
according to their skill and knowledge possessed
Dissatisfied 2 5%
Satisfied 21 57%
Total 37 100%
Table 3.5 - Showing the satisfaction level of employees on the position they hold is
according to their skill and knowledge possessed
3% 5%
16%
19% Extremely Dissatisfied

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
57%
Inference: Majority of the respondents (57 per cent) are satisfied about the position they
hold according to the skills and knowledge they have. A minority of
respondents (3 per cent) is extremely dissatisfied.
- 35 -
Table 3.6 – Showing whether the opportunities received are helpful in improving existing
skills
Dissatisfied 4 11%
Satisfied 16 43%
Total 37 100%
Diagram 3.6 – Showing whether the opportunities received are helpful in improving
existing skills
8%
16%
11%
Dissatisfied
Somewhat Satisfied
Satisfied
22%
Extremely Satisfied
43%
Inference: Most of the respondents were satisfied with the opportunities that they receive
to improve their skills. While almost 22 per cent of the respondents are
somewhat satisfied. 16 per cent of the total respondents are extremely satisfied
followed by 11 per cent who are dissatisfied. About 8 per cent of the total
respondents are extremely dissatisfied.
- 36 -
Table 3.7 – Showing the satisfaction received over the training and education received
Dissatisfied 4 11%
Satisfied 18 48%
Total 37 100%
Diagram 3.7 – Showing the satisfaction received over the training and education
received
3%
14% 11%
Dissatisfied
Satisfied
Extremely Satisfied
48%
Inference: Most of the respondents are satisfied with the training and education they
receive. A minority of the respondents are extremely dissatisfied.
- 37 -
Table 3.8 – Showing if there is enrichment in the job offered

Dissatisfied 5 14%
Satisfied 16 42%
Total 37 100%
Diagram 3.8 – Showing if there is enrichment in the job offered
0%
3% 14%
Dissatisfied
Satisfied
Extremely Satisfied
41%
Inference: 42 per cent of the respondents are satisfied with the enrichment in the job
offered, followed by 41 per cent who are somewhat satisfied. 3 per cent of the
respondents are extremely satisfied and the rest 14 per cent are dissatisfied.
- 38 -
Table 3.9 – Showing the satisfaction achieved by employees over the freedom they receive
over performing the job
Dissatisfied 2 5%
Satisfied 17 46%
Total 37 100%
Diagram 3.9 – Showing the satisfaction achieved by employees over the freedom they
receive over performing the job
0%
5%
30% 19%
Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
46%
Inference: Majority of the respondents (46 per cent) are satisfied with the freedom they
receive over performing the job, while a minority of respondents (5 per cent)
are dissatisfied. None of the respondents are extremely dissatisfied.
- 39 -
Table 3.10 – Showing whether the job demands enough interaction with others
Dissatisfied 1 3%
Satisfied 21 56%
Total 37 100%
Diagram 3.10 – Showing whether the job demands enough interaction with others
0%
3%
22% 19%
Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
56%
Inference: Majority of the respondents are satisfied with the interaction the job demands,
while a minority of respondents are dissatisfied. None of the respondents are
extremely dissatisfied.
- 40 -
Table 3.11 – Showing whether the job gives enough opportunity for independent thought
and action
Dissatisfied 1 3%
Satisfied 19 51%
Total 37 100%
Diagram 3.11 - Showing whether the job gives enough opportunity for independent
thought and action
3%
16% 3%

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
51%
Inference: Majority of the respondents are satisfied with the opportunities the job offers
them for independent thought and action. A minority of respondents are
- 41 -
Table 3.12 – Showing if adequate co-operation is received from within the organisation to
fulfil the responsibilities of the job
Dissatisfied 1 3%
Satisfied 20 53%
Total 37 100%
Diagram 3.12 - Showing if adequate co-operation is received from within the

organisation to fulfil the responsibilities of the job
3%
14% 3%

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
53%
Inference: Majority of the respondents (53 per cent) are satisfied with the co-operation
received from within the organisation to fulfil the responsibilities of the job,
while a minority of respondents (3 per cent) are extremely dissatisfied.
- 42 -
Table 3.13 – Showing if remuneration plays a key role in Job satisfaction

Dissatisfied 3 8%
Satisfied 17 46%
Total 37 100%
Diagram 3.13 – Showing if remuneration plays a key role in Job satisfaction
0% 8%
19%
27% Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
46%
Inference: Majority of the respondents agree that remuneration play a key role in job
satisfaction.
- 43 -
Table 3.14 – Showing if incentives play a vital role in motivating employees

Dissatisfied 2 5%
Satisfied 13 36%
Total 37 100%
Diagram 3.14 – Showing if incentives play a vital role in motivating employees
0%
5%
35% 24% Extremely Dissatisfied

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
36%
Inference: Most of the respondents are satisfied with the role of incentives in motivation.
- 44 -
Table 3.15 – Showing if the incentives are disbursed promptly

Dissatisfied 8 22%
Satisfied 8 22%
Total 37 100%
Diagram 3.15 – Showing if the incentives are disbursed promptly
Frequency
16
14
12
10
8
6
4
2
0
Extremely Dissatisfied Somewhat Satisfied Extremely
Dissatisfied Satisfied Satisfied
Inference: Majority of the respondents are only somewhat satisfied with the prompt
disbursement of incentives.
- 45 -
Table 3.16 – Showing the satisfaction over the job security received in the organisation
Dissatisfied 7 19%
Satisfied 14 38%
Total 37 100%
Diagram 3.16 - Showing the satisfaction over the job security received in the
organisation
5%
14%
Dissatisfied
19%
Satisfied
Extremely Satisfied
24%
Inference: Majority of the employees are satisfied with the job security offered by the
company. But about 14 per cent of the respondents are extremely dissatisfied
about job security.
- 46 -
Table 3.17 – Showing if there is enough opportunities for promotion

Dissatisfied 9 24%
Satisfied 9 24%
Total 37 100%
Diagram 3.17 – Showing if there is enough opportunities for promotion
5% 5%
24% 24% Extremely Dissatisfied

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
42%
Inference: Majority of the respondents (42 per cent) are only somewhat satisfied with the
opportunities for promotion
- 47 -
Table 3.18 – Showing if the branch heads maintain good relations with the employees
Dissatisfied 2 5%
Satisfied 16 43%
Total 37 100%
Diagram 3.18 – Showing if the branch heads maintain good relations with the
employees
3% 5%
19%
Dissatisfied
30%
Somewhat Satisfied
Satisfied
Extremely Satisfied
43%
Inference: 43 per cent of the total respondents are satisfied with superior –subordinate
relationships, followed by 30 per cent who are somewhat satisfied. 19 per cent
are extremely satisfied. 5 per cent are dissatisfied and only 3 per cent are
- 48 -
Table 3.19 – Showing the satisfaction of the employees over relations with each other
Dissatisfied 2 5%
Satisfied 24 65%
Total 37 100%
Diagram 3.19 – Showing the satisfaction of the employees over relations with each
other
0%
5%
19% 11%
Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
65%
Inference: Majority of the respondents (65 per cent) are satisfied with peer to peer
relationship, followed by 11 per cent who are extremely satisfied. 11 per cent
seem to be somewhat satisfied. Only a 5 per cent of the total respondents seem
to be dissatisfied.
- 49 -
Table 3.20 – Showing if the company clearly communicates its goals and strategies to each
employee
Dissatisfied 2 5%
Satisfied 19 52%
Total 37 100%
Diagram 3.20 – Showing if the company clearly communicates its goals and strategies
to each employee
0%
16% 5%

Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
52%
Inference: Majority of the respondents (52 per cent) are satisfied with the communication of
the goals and strategies of the company. 27 per cent are somewhat satisfied
followed by 16 per cent who are extremely satisfied. Only 5 per cent of the
respondents are dissatisfied.
- 50 -
Table 3.21 – Showing the satisfaction over team spirit in the work environment
Dissatisfied 1 3%
Satisfied 12 32%
Total 37 100percentage
Diagram 3.21 – Showing the satisfaction over team spirit in the work environment
3%
3%
27%
Dissatisfied
35%
Somewhat Satisfied
Satisfied
Extremely Satisfied
32%
Inference: Majority of the respondents are only somewhat satisfied over the team spirit in
the work environment.
- 51 -
Table 3.22 – Showing the sufficiency of the benefits received over working in the company
Dissatisfied 4 11%
Satisfied 15 41%
Total 37 100%
Diagram 3.22 – Showing the sufficiency of the benefits received over working in the
company
8% 0% 11%
Dissatisfied
Somewhat Satisfied
41% Satisfied
Inference: Majority of the respondents are satisfied with the benefits received. 40 per cent
are only somewhat satisfied. 11 per cent are dissatisfied and the remaining 8 per
cent are extremely satisfied.
Table 3.23 – Showing the satisfactory level of work related stress
- 52 -
Dissatisfied 5 14%
Satisfied 11 30%
Total 37 100%
Diagram 3.23 – Showing the satisfactory level of work related stress
0%
16% 14%
Dissatisfied
Somewhat Satisfied
Satisfied
40%
Inference: Majority of the respondents are satisfied with the stress levels they have to go
through. None of the respondents are extremely dissatisfied.
- 53 -
Table 3.24 – Showing the satisfaction of the employees over the work environment in the
company
Dissatisfied 0 0%
Satisfied 15 41%
Total 37 100%
Diagram 3.24 - Showing the satisfaction of the employees over the work environment in
the company
0%
0%
27%
32%
Dissatisfied
Somewhat Satisfied
Satisfied
Extremely Satisfied
41%
Inference: Majority of the respondents are satisfied (41 per cent) over the work
environment in the company. This is followed by respondents who are
somewhat satisfied (32 per cent) and extremely satisfied (27 per cent).
- 54 -
Table 3.25 – Showing if the employees are satisfied with the flexible working hours in the
company
Dissatisfied 5 14%
Satisfied 14 37%
Total 37 100%
Diagram 3.25 - Showing if the employees are satisfied with the flexible working hours
in the company
3%
16% 14%
Dissatisfied
Somewhat Satisfied
Satisfied
37%
Inference: Majority of the employees are satisfied with the flexible working hours in the
company. Only a minority of respondents are extremely dissatisfied.
- 55 -
Table 3.26 – Showing if the employee have individuality in the company

Dissatisfied 2 5%
Satisfied 17 46%
Total 37 100%
Diagram 3.26 – Showing if the employee have individuality in the company
8% 3% 5%
Dissatisfied
Somewhat Satisfied
38%
Satisfied
Inference: Majority (46 per cent) are satisfied with the individuality they have in the
company, while 38 per cent of the respondents are somewhat satisfied. 8 per
cent are extremely satisfied. 5 per cent of the respondents are dissatisfied and
the remaining 3 per cent are extremely dissatisfied.
- 56 -
Table 3.27.a – Showing the overall satisfaction received over the work environment
Dissatisfied 5 14%
Satisfied 14 37%
Total 37 100%
Diagram 3.27.a - Showing the overall satisfaction received over the work environment
3%
19% 14%
Dissatisfied
Somewhat Satisfied
Satisfied
27%
Extremely Satisfied
37%
Inference: 37 per cent of the respondents are satisfied with the work environment. 27 per
cent are somewhat satisfied, while 19 per cent of the respondents are extremely
satisfied. 14 per cent are dissatisfied and only 3 per cent are extremely
dissatisfied.
- 57 -
Table 3.27.b - Showing the overall satisfaction received over job security
Dissatisfied 7 19%
Satisfied 8 22%
Total 37 100%
Diagram 3.27.b – Showing the overall satisfaction received over job security
5%
19%
22%
Dissatisfied
Somewhat Satisfied
19% Satisfied
Extremely Satisfied
35%
Inference: Majority of the respondents (35 per cent) are somewhat satisfied with the job
security, while only 22 per cent of the respondents are satisfied. Only 5 per cent
of the total respondents are extremely satisfied. 19 per cent of the respondents are
dissatisfied and another 19 per cent are extremely dissatisfied.
- 58 -
Table 3.27.c - Showing the overall satisfaction received over the salary earned
Dissatisfied 7 19%
Satisfied 8 22%
Total 37 100%
Diagram 3.27.c – Showing the overall satisfaction received over the salary earned
11% 16%
22% Dissatisfied
Satisfied
Extremely Satisfied
32%
Inference: Most of the respondents are only somewhat satisfied over the salary earned.
Only 22 per cent are satisfied. 11 per cent are extremely satisfied. 19 per cent of
the respondents are dissatisfied and 16 per cent are extremely dissatisfied.
- 59 -
Table 3.27.d - Showing the overall satisfaction received over the Superior subordinate
relationship
Dissatisfied 4 11%
Satisfied 16 43%
Total 37 100%
Diagram 3.27.d - Showing the overall satisfaction received over the Superior
subordinate relationship
0% 11%
19%
Dissatisfied
Satisfied
Extremely Satisfied
43%
Inference: Majority of the respondents (43 per cent) are satisfied over the superior-
subordinate relationship. 27 per cent are somewhat satisfied while a 19 per cent
are extremely satisfied. Only a 11 Per cent are dissatisfied.
- 60 -
Table 3.27.e - Showing the overall satisfaction received over incentives received
Dissatisfied 4 11%
Satisfied 12 32%
Total 37 100%
Diagram 3.27.e – Showing the overall satisfaction received over incentives received
11%
24%
11%
Dissatisfied
Somewhat Satisfied
Satisfied
32%
Inference: Most of the respondents are satisfied over the incentives received. 24per cent are
extremely satisfied. 22 per cent are somewhat satisfied. 11 per cent are
dissatisfied and another 11 per cent are extremely dissatisfied.
- 61 -
Table 3.28 – Showing the overall satisfaction over the job

Dissatisfied 5 14%
Satisfied 18 48%
Total 37 100%
Diagram 3.28 – Showing the overall satisfaction over the job
8% 0%
14%
Dissatisfied
Somewhat Satisfied
30% Satisfied
Inference: Majority of the respondents are satisfied with their job. 30 per cent are somewhat
satisfied. An 8 per cent of the respondents are extremely satisfied while a 14 per
cent are dissatisfied.
- 62 -
Introduction
The topic selected for the industrial project is “A study to analyse the level of job
satisfaction among the employees of India Infoline, with special reference to Cochin
branch”. As the topic is job satisfaction the following specific objectives where to be
covered in the survey –
1. To study the extent of clarity and the role of information in
2. To study the extent of satisfaction in relation to variety in job.
3. To understand the role played by work environment, remuneration,
4. To understand the role of positive work relationship on job
satisfaction.
With base as there specific objectives an objective bases analysis was conducted to find out
the satisfaction level of employees with each objectives.
- 63 -
Objective 1: To study the extent of clarity and the role of information in increasing the
level of satisfaction.
Questions:
1. Information that you receive for performing your job is adequate.
2. Feedback given by supervisors.
3. Information given not ambiguous.
4. Training and education given are adequate.
5. The company clearly communicates its goal and strategies to each employee.
Methodology
There are 5 questions under this objective. As the questionnaire is on a 5 point scale, the
highest possible rating for this objective is 25 (5 x 5) and the lowest possible is 5 (5 x 1).
3 classes are made based on these highest and lowest ratings. The classes made are –
a. 5-12 (lowest)
b. 12-18 (medium)
c. 18-25 (highest)
Each class shows each level of satisfaction among the employees i.e. whether they are no
satisfied, somewhat satisfied or highly satisfied. The sum of the responses of each
respondent, over each objective is calculated, and is allocated into the classes under the
head frequency.
For eg: if the sum of the responses of the questions under objective 1 of a respondent is
21, it will be allocated under 18-25 class, which is the highest level of
satisfaction.
The frequency chart is made for each class. The class with the highest frequency would
be the level of satisfaction of the employees over the particular objective.
- 64 -
Table 3.29 - To study the extent of clarity and the role of information in increasing
the level of satisfaction.
Frequency
5-12 (Low) 6
12-18 (Medium) 11
18-25 (High) 20
Total 37
Diagram 3.29 - To study the extent of clarity and the role of information in
16%
Low
Medium
54%
High
30%
Inference: Majority of the respondents are highly satisfied with the extent of clarity and
the role of information.
Objective 2: To study the extent of satisfaction in relation to variety in job
- 65 -
Questions:
1. Opportunities given in the company helps in improving the job.
2. Position suits the skill and knowledge possessed.
3. Opportunities enhance existing skills.
4. There is enrichment in the job offered.
5. Job gives enough opportunity for independent thought and action.
6. Adequate freedom is given in performing the job.
7. Comment on the individuality you have in the company.
Methodology
a. 7-14 (lowest)
b. 14-21 (medium)
c. 21-35 (highest)
head frequency.
satisfaction.
Table 3.30 - To study the extent of satisfaction in relation to variety in job
- 66 -
Frequency
7-14 (Low) 7
14-21 (Medium) 12
21-35 (High) 18
Total 37
Diagram 3.30 - To study the extent of satisfaction in relation to variety in job
19%
Low
49% Medium
High
32%
Inference: Majority of the respondents are highly satisfied with the variety in job they
receive.
Objective 3: To understand the role played by work environment, remuneration,

Questions:
- 67 -
1. Remuneration plays a key role in job satisfaction.

2. Incentives play a vital role in motivating employees.
3. Incentives are disbursed promptly.
4. There exists job security in the organisation.
5. There are sufficient opportunities for promotion.
6. Team spirit in your work environment.
7. The sufficiency of the benefits received by working in the company
8. You are satisfied with the current level of work related stress.
9. Working environment in the company.
10. Flexible working hours in the company.
11. Rate work environment.
12. Rate Job security.
13. Rate Salary.
14. Rate Incentives.
Methodology
There are 14 questions under this objective. As the questionnaire is on a 5 point scale,
the highest possible rating for this objective is 70 (14 x 5) and the lowest possible is 14
(14 x 1). 3 classes are made based on these highest and lowest ratings. The classes made
are –
a. 14-32 (lowest)
b. 32-50 (medium)
c. 50-70 (highest)
head frequency.
25, it will be allocated under 14-32 class, which is the lowest level of
satisfaction.
- 68 -
Table 3.31 - To understand the role played by work environment, remuneration,

Frequency
14-32 (Low) 6
32-50 (Medium) 11
- 69 -
50-70 (High) 20
Total 37
Diagram 3.31 - To understand the role played by work environment, remuneration,

16%
Low
Medium
54%
High
30%
Inference: Majority of the respondents are highly satisfied with the work environment,
remuneration, incentives and benefits given by the company.
Objective 4: To understand the role of positive work relationship on job satisfaction
Questions:
1. Job demands for interaction with others.
- 70 -
2. Adequate co-operation is received from within the organisation to fullfill the

responsibilities of the job.
3. Branch heads maintain good relationships with employees.
4. Subordinates maintain good relationships with each other.
5. Rate superior-subordinate relationship.
Methodology
d. 5-12 (lowest)
e. 12-18 (medium)
f. 18-25 (highest)
head frequency.
satisfaction.
Table 3.32 - To understand the role of positive work relationship on job satisfaction
Frequency
5-12 (Low) 10
12-18 (Medium) 11
18-25 (High) 16
- 71 -
Total 37
Diagram 3.32 - To understand the role of positive work relationship on job

satisfaction
27%
43% Low
Medium
High
30%
Inference: Majority of the respondents are highly satisfied with the positive work
relationship existing in the company.
FINDINGS
• A large majority of the respondents are satisfied with their overall job while no one
expressed complete dissatisfaction with their jobs.
• The respondents are satisfied with the adequacy of information given for them to do
their job.
- 72 -
• There is only a slight difference between the employees who are satisfied and
dissatisfied with the feedback given by the branch head. Hence the branch heads
have performed averagely.
• Majority of the employees are happy with the opportunities that they receive over
improving their job quality. This shows that the employees turn out to be efficient
and also innovative.
• The clarity of information received seems to be only marginal. The employees are
divided between the scales satisfied and just satisfied when it comes to clarity of
information.
• Most of the employees are satisfied with the positions they hold. Employees are
given their positions according to their qualifications and skills. Few employees have
also expressed that they were not given jobs according to their high level of skills.
• The employees are satisfied with the opportunities given in the organisation which
has in turn helped them to improve upon their skills.
• Majority are satisfied with the quality of the training and education received.
• Enrichment in the job offered is just satisfactory. The frequencies of respondents
who are satisfied and dissatisfied are equally divided. Hence some have agreed that
there is monotony in their work. Employees have opined that their job lacks
challenges.
• The employees receive adequate freedom in doing their jobs. Many of them are
extremely satisfied with the freedom they get.
• There is adequate interaction among the employees while they work. Positive
interactions among the employees help the organisation as a whole.
• Employees do not enjoy complete independence in their thought and action. Majority
have expressed that they are just satisfied.
• The employees are moderately satisfied with the co-operation they receive from
others in performance of their jobs.
• The employees are satisfied with the remuneration they receive.
• Majority of the employees are extremely satisfied with the incentives that they
receive.
- 73 -
• The employees are only some what satisfied with the promptness in the disbursement
of their incentives.
• The company do assure good job security to the employees. But there are
respondents who are just partially satisfied with the job security they have.
• The chances of promotion in the company are just satisfactory. Many are satisfied
and an equal number are dissatisfied with the promotion chances they get. Most of
the employees have been staying in the same post for a long time. This creates
disinterest towards the job they do.
• The employees are just satisfied with the relations that they keep with their branch
heads
• There is good peer-peer relationship in the company. Many are extremely satisfied
with it. This shows that there is a good working environment in the company.
• The company do communicate its goals and strategies to each employee. But the
survey has showed the vagueness in the clarity of the communication passed. Most
of the employees are satisfied, but there are employees who are partially satisfied.
• The team spirit shown in doing a job seems to be just satisfactory. This leads to job
dissatisfaction.
• The benefits given by the company to its employees are only satisfactory.
• The stress levels on the employees are a bit high. This can make their jobs tiring. The
employees are dissatisfied with the stress level.
• The employees are highly satisfied with the working environment provided by the
company. A good working environment is always a positive sign.
• The flexible working hours are just satisfactory.
• Majority of the employees are satisfied with the individuality they have in the
organisation. But there are many who are just partially satisfied.
• The employees are satisfied with the work environment. The job security given by
the company is satisfactory. The remuneration received by the employees is also
satisfactory. There is good superior-subordinate relationship in the organisation.
They are also satisfied with the incentives they receive.
• None of the employees are fully satisfied with the organisation.
- 74 -
Objective based findings

• Majority of the respondents are highly satisfied with the extent of clarity and the role
of information.
• Majority of the respondents are highly satisfied with the variety in job they receive.
• Majority of the respondents are highly satisfied with the work environment,
remuneration, incentives and benefits given by the company.
• Majority of the respondents are highly satisfied with the positive work relationship
existing in the company.
SUGGESTIONS
- 75 -
• The present work environment in the organisation should be well maintained as it is

one of main aspects which keep the employees satisfied with their job in the
organisation.
• The information should be clear and must be understood. There should not be any
vagueness in the information given. Adequate information should be given to the
employees at the right time so that the work can be completed efficiently and
promptly.
• The stress factor in the organisation among the employees should be qualitatively
reduced by bringing in more flexibility in their work.
• There should be promptness in the disbursement of the incentives to the employees.
Employees must be given better benefits for working in the organisation. Employee
welfare must be given more importance.
• The employees must receive a proper feedback for the job they are doing from their
branch heads making the communication more effective.
• The monotony in jobs should be avoided. Job enrichment should be used effectively.
Also promotion chances should be bought about so that the employees turn out to be
more active and loyal toward the organisation.
• The skills and the qualifications of the employees should be analysed and suitable
jobs must be allocated. There are a few employees who feel that they are not wanted
by the organisation even though they have the required skills and necessary
qualifications.
• Employees must be given the chance for independent thought and action. The
restriction instilled should be reduced, so that employees can show their true skills.
• There should be more co-operations while doing work. There should be a healthy
team work to complete the job on time.
• The company must be able to assure job security to the employees.
• The branch heads should be able to maintain good and healthy relationships with the
employees of the company.
• The company should be able to provide flexible working hours.
- 76 -
CONCLUSION
- 77 -
The project titled “A study to analyse the level of job satisfaction among the employees of
India Infoline” was conducted in India Infoline, Cochin Branch. The main objective of the
project was to analyse the level of job satisfaction among the employees with special
reference to Cochin branch. The project specifically aimed to study the clarity and role of
information, variety in the job, role of remuneration and incentives. The study also focussed
on the work relations in the company.
It was found that the information passed to the employees where vague and where no very
specific. There was a lack of promptness in the disbursement of incentives. There exists a
good working environment in the company. The employees don’t get proper feedback from
the branch heads over the work done. There were healthy working relationships in the
company.
The study was able to highlight some suggestions emphasising the need for proper
communication in the company. The monotony in the jobs must be reduced. It was also
suggested that there should be promptness in the disbursement of Incentives.
In total the employees are satisfied with the company. But none of them are fully satisfied.
The company should be able to give the employees their proper needs and requirements.
This would only increase the standard of the company, and would also result to better Job
satisfaction among the employees.
- 78 -

A Study To Analyse The Level of Job Satisfaction Among Employees in India Infoline

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A Study To Analyse The Level of Job Satisfaction Among Employees in India Infoline

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Rajagiri college of Management and Applied Sciences

India Infoline Limited

History of India Infoline ltd:

“…..to protect the interests of investors in securities and to promote the

There are three types of stockbroking service.

Stockbrokers also sometimes or exclusively trade on their own behalf, as a principal,

Portfolio Management System

Wealth Advisory services

Wealth management is an investment advisory discipline that incorporates financial

Wealth management can be provided by large corporate entities, independent financial

The six principles of insurance are:

1. Indemnity – Insurance is a contract of indemnity where the insurance company

Insurance companies may be classified into two groups:

India Infoline Media and Research Services Limited:

India Infoline Commodities Limited:

India Infoline Marketing & Services:

India Infoline Investment Services Limited:

IIFL (Asia) Pte Limited:

Objective of India Infoline:

Global presence of India Infoline limited:

Share transfer and investor grievance committee

Chief financial officer

Core management team

Registrar and Share transfer agents

It had often been said that “A HAPPY EMPLOYEE IS A PRODUCTIVE

Assessment of job satisfaction:

The Job in General Index is an overall measurement of job satisfaction. It is an improvement

Other job satisfaction questionnaires include: the Minnesota Satisfaction Questionnaire

Models of job satisfaction

Two-Factor Theory (Motivator-Hygiene Theory)

Job Characteristics Model

Communication overload and communication overload

One of the most important aspects of an individual’s work in a modern organization

Superior-subordinate communication is an important influence on job satisfaction in the

or negatively influence job satisfaction. Communication behavior such as facial expression,

Job satisfaction and emotions

1. Emotional dissonance. Emotional dissonance is a state of discrepancy between

Factors influencing Job satisfaction:

Some organisational factors which affect job satisfaction are:

1. Salaries and wages

Firstly, promotion indicates an employee’s worth to the organisation which is high

B. Work environmental factors

The work environmental factors include the following important factors:

Supervision is a moderately important source of job satisfaction. There are two

A friendly and co-operative group provides opportunities to the group members to

A moderate amount of variety is very effective. Excessive variety produces

3. Lack of Autonomy and Freedom

4. Role ambiguity and role conflict

1. Age and Seniority

Job satisfaction and Employee turnover:

Job satisfaction and Absenteeism:

Job dissatisfaction is frequently caused by the following factors.

1. Low pay and/or promotion chances

STATEMENT OF THE PROBLEM

3. To study of about the freedom of an employee over a particular job.

1. To study the extent of clarity and the role of information in

• Primary data collection – Questionnaire based on scaling (rating)

• Secondary data collection - Internet and books

TOOLS OF DATA ANALYSIS

LIMITATION OF THE STUDY

• Lack of co-operation from some of the respondents.

19% Extremely Dissatisfied