You are on page 1of 70

1

CHAPTER-1



INTRODUCTION


















2

INTRODUCTION

Why do we need motivated employees? The answer is survival (Smith, 1994).
Motivated employees are needed in our rapidly changing workplaces. Motivated
employees help organizations survive. Motivated employees are more productive. To
be effective, managers need to understand what motivates employees within the
context of the roles they perform. Of all the functions a manager performs,
motivating employees is arguably the most complex. This is due, in part, to the fact
that what motivates employees changes constantly (Bowen & Radhakrishna, 1991).
For example, research suggests that as employees' income increases, money becomes
less of a motivator (Kovach, 1987). Also, as employees get older, interesting work
becomes more of a motivator.
The employees who work for your company are naturally motivated. All you need to
do is to utilize their natural ability, which you can do without spending a dime.
That's right. No money. In fact, money can actually decrease an employee's
motivation and performance. The first step in utilizing your employees' natural
abilities is to eliminate your organization's negative practices that zap away their
natural motivation. The second step your organization can take is to develop true
motivators, which can spark all your employees into being motivated. By decreasing
negative zapping demotivators and by adding true motivators, you will tap into your
employees' natural motivation. Your employees' natural motivation relies on the fact
that all people have human desires for affiliation, achievement, and for control and
power over their work. In addition, they have desires for ownership, competence,
recognition, and meaning in their work.



3

Through effective employee motivation techniques a company can get much
better performance of their employees. One technique to motivate employees that
works really well is the employee of the month. This highlights a single individual
who has shown outstanding drive, performance and effort for the given month. This
should be awarded by management and not by peer review. You do not want it to
become a popularity contest. Most companies will post the person's picture in a
prominent area, and they also get a few perks for that month -- a parking spot up
close to the entrance with a sign that says reserved for employee of the month is
often given. Sometimes a small gift is given like a pen or coffee mug that says
employee of the month. It is usually good to have an awards ceremony or to give out
this award at management meeting. It does not cost the company a lot of money to
implement this, but the result of this technique is huge. First of all it gives the
employee recognition and lots of it. We all like to be told when we have done a good
job. This is especially true when we know we have put a lot of time and effort into
something. This simple technique will definitely motivate your employees.
Other effective employee motivation techniques include competitions between teams
in order to get projects completed faster, awards for perfect attendance, and awards
for jobs well done. Some companies will let customers rate their customer service
representatives. At the end of a specific time frame an award is given to the person
who has provided the most outstanding customer serviceoys their enthusiasm.










4

RESEARCH PROBLEM

The research problem here in this study is associated with the motivation of
employees of Bajaj insurance company Mahabubnagar. There are a variety of
factors that can influence a persons level of motivation; some of these factors
include
1. The level of pay and benefits,
2. The perceived fairness of promotion system within a company,
3. Quality of the working conditions,
4. Leadership and social relationships,
5. Employee recognition
6. Job security
7. Career development opportunities etc.

Motivated employees are a great asset to any organization. It is because the
motivation and Job satisfaction is clearly linked. Hence this study is focusing on the
employee motivation in the organization. The research problem is formulated as
follows:
What are the factors which help to motivate the employees?


















5


SIGNIFICANCE OF THE STUDY

The study is intended to evaluate motivation of employees in the organization. A
good motivational program procedure is essential to achieve goal of the
organization. If efficient motivational programs of employees are made not only in
this particular organization but also any other organization; the organizations can
achieve the efficiency also to develop a good organizational culture.
Motivation has variety of effects. These effects may be seen in the context of an
individuals physical and mental health, productivity, absenteeism and turnover.
Employee delight has to be managed in more than one way. This helps in retaining
and nurturing the true believers.
This means innovation and creativity. It also means a change in the gear for HR
policies and practices. The faster the organizations nurture their employees, the more
successful they will be. The challenge before HR managers today is to delight their
employees and nurture their creativity to keep them a bloom.
This study helps the researcher to realize the importance of effective employee
motivation. This research study examines types and levels of employee motivational
programs and also discusses management ideas that can be utilized to innovate
employee motivation. It helps to provide insights to support future research
regarding strategic guidance for organizations that are both providing and using
reward/recognition programs.















6


OBJECTIVES OF THE STUDY


1. To study the effect of monetary and non-monetary benefits provided by the
organization on the employees performance.

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

3. To learn the employees satisfaction on the interpersonal relationship exists
in the organization.

4. To provide the practical suggestion for the improvement of organizations
performance.

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the
researcher of what the researcher considers the outcome of an investigation will be.
It is an informed/educated guess. It indicates the expectations of the researcher
regarding certain variables. It is the most specific way in which an answer to a
problem can be stated.
Research hypotheses are the specific testable predictions made about the
independent and dependent variables in the study. Hypotheses are couched in terms
of the particular independent and dependent variables that are going to be used in the
study.

RESEARCH METHODOLOGY

Research is a systematic method of finding solutions to problems. It is essentially an
investigation, a recording and an analysis of evidence for the purpose of gaining
knowledge. According to Clifford woody, research comprises of defining and
redefining problem, formulating hypothesis or suggested solutions, collecting,
organizing and evaluating data, reaching conclusions, testing conclusions to
determine whether they fit the formulated hypothesis




7


Sampling Design:

A sample design is a finite plan for obtaining a sample from a given population.
Simple random sampling is used for this study.

Universe:
The universe chooses for the research study is the employees of Bajaj insurance
company of Mahabubnagar.

Sample Size:
Number of the sampling units selected from the population is called the size of the
sample.
Sample of 75 respondents were obtained from the population.

Sampling Procedure:
The procedure adopted in the present study is probability sampling, which is also
known as chance sampling. Under this sampling design, every item of the frame has
an equal chance of inclusion in the sample.

Methods of Data Collection:
The datas were collected through Primary and secondary sources.

Primary Sources:
Primary data are in the form of raw material to which statistical methods are
applied for the purpose of analysis and interpretations.
The primary sources are discussion with employees, datas collected through
questionnaire.

Secondary Sources:
Secondary datas are in the form of finished products as they have already been
treated statistically in some form or other.
The secondary data mainly consists of data and information collected from records,
company websites and also discussion with the management of the organization.
Secondary data was also collected from journals, magazines and books.




8

Questionnaire:
A well defined questionnaire that is used effectively can gather information on both
overall performance of the test system as well as information on specific components
of the system. A defeated questionnaire was carefully prepared and specially
numbered. The questions were arranged in proper order, in accordance with the
relevance.

Nature of Questions Asked:
The questionnaire consists of open ended, dichotomous, rating and ranking
questions.

Pre-testing:
A pre-testing of questionnaire was conducted with 21 questionnaires, which were
distributed and all of them were collected back as completed questionnaire. On the
basis of doubts raised by the respondents the questionnaire was redialed to its present
form.
Sample:
A finite subset of population, selected from it with the objective of investigating its
properties called a sample. A sample is a representative part of the population. A
sample of 75 respondents in total has been randomly selected. The response to
various elements under each questions were totaled for the purpose of various
statistical testing.

Variables of the Study:
The direct variable of the study is the employee motivation.

Indirect variables are the incentives, interpersonal relations, career development
opportunities and performance appraisal system.

Presentation of Data:

The data are presented through charts and tables.

Tools and Techniques for Analysis:

Correlation is used to test the hypothesis and draw inferences.


9




















CHAPTER-II




REVIEW OF LITERATURE





















10

2.1 LITERATURE REVIEW

Rensis Likerthas called motivation as the core of management. Motivation is
the core of management. Motivation is an effective instrument in the hands of the
management in inspiring the work force .It is the major task of every manager to
motivate his subordinate or to create the will to work among the subordinates .It
should also be remembered that the worker may be immensely capable of doing
some work, nothing can be achieved if he is not willing to work .creation of a will to
work is motivation in simple but true sense of term.
Motivation is an important function which very manager performs for actuating the
people to work for accomplishment of objectives of the organization. Issuance of
well conceived instructions and orders does not mean that they will be followed .A
manager has to make appropriate use of motivation to enthuse the employees to
follow them. Effective motivation succeeds not only in having an order accepted but
also in gaining a determination to see that it is executed efficiently and effectively.
In order to motivate workers to work for the organizational goals, the managers must
determine the motives or needs of the workers and provide an environment in which
appropriate incentives are available for their satisfaction .If the management is
successful in doing so; it will also be successful in increasing the willingness of the
workers to work. This will increase efficiency and effectiveness of the organization.
There will be better utilization of resources and workers abilities and capacities.

OBJECTIVES
According to Catherin john a case study on employee motivation research
objectives are
1. Study in the restaurant industry was identifying the previous motivating factors
and organizational commitment in the industry.
2. Investigates if employee motivation and organizational commitment factors differ
or agree as differentiated by demographic factors.




11

Our objectives in the bajaj insurance company are as follows,
1. To study the effect of monetary and nonmonetary benefits provided by the
organization on the employees performance.
2. To study the effect of job promotions on employees.
3. To learn the employees satisfaction on the interpersonal relationship exists in the
organization.
4. To provide the practical suggestion for the improvement of organizations
performance.

The concept of motivation:
The word motivation has been derived from motive which means any idea, need or
emotion that prompts a man in to action. Whatever may be the behavior of man,
there is some stimulus behind it .Stimulus is dependent upon the motive of the
person concerned. Motive can be known by studying his needs and desires.
There is no universal theory that can explain the factors influencing motives which
control mans behavior at any particular point of time. In general, the different
motives operate at different times among different people and influence their
behaviors. The process of motivation studies the motives of individuals which cause
different type of behavior.

Definitions of Motivation:

1. Motivation is the process of attempting to influence others to their work
through the possibility of gain or reward.

-Edwin B Flippo


2. Physical forces that determine the direction of persons behavior in an
organization,
A persons level of effort and a person level of persistence.

-Gareth R.Jones &J.M .Georges







12

3.The heart of motivation is to give people what they really want most from work.
the
More our are able to provide that they want , the more you should expect what you
Really want, namely: productivity, quality, and service.

-Twyla Dell


4.o provide with a motive and a motive is something as a reason or desire, to
Spur action.

-Trusty Webster


5. The willingness to exert high levels of efforts towards organization goals,
Conditioned by the efforts ability to satisfy some individual need.

-Robbins

6. An employees motivation is a direct result of the some of interactions with
His or her manager.

-Bob Nelson


7. Some of the things were in the place and someone who was connected
With these schools of thought, and someone who had a motivation hat equals
The scope of the comedy and the tragedy in the plays.

-Mark Rylance


Significance of Motivation:

Motivation involves getting the members of the group to pull weight effectively, to
give their loyalty to the group, to carry out properly the purpose of the organization.
The following results may be expected if the employees are properly motivated.
1. The workforce will be better satisfied if the management provides them with
opportunities to fulfill their physiological and psychological needs. The
workers will cooperate voluntarily with the management and will contribute
their maximum towards the goals of the enterprise.



13

2. Workers will tend to be as efficient as possible by improving upon their skills
and knowledge so that they are able to contribute to the progress of the
organization. This will also result in increased productivity.

3. The rates of labors turnover and absenteeism among the workers will be
low.

4. There will be good human relations in the organization as friction among the
workers themselves and between the workers and the management will
decrease.

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

6. There will be increase in the quantity and quality of products. Wastage and
scrap will be less. Better quality of products will also increase the public
image of the business.





















14
















Theoretical Framework

















15

2.2 THEORETICAL FRAMEWORK

Motivation Methods:

There are as many different methods of motivating employees today as there are
companies operating in the global business environment. still, some strategies are
prevalent across all organizations striving to improve employee motivation. The best
employee motivation efforts will focus on what the employees deem to be important.
It may be that employees within the same department of the same organization will
have different motivators. Many organizations today find that flexibility in job
design and reward systems has resulted in employees increased longevity with the
company, improved productivity, and better morale.
Empowerment: Giving employees more responsibility and decision making
authority increases their realm of control over the tasks for which they are held
responsible and better equips them to carry out those tasks as a result, feelings of
frustration a rise in from being held accountable for something one does not have the
resource to carryout are diminished. Energy is diverted from self-preservation to
improved task accomplishment.
Creativity and innovation: At many companies employees with creative ideas
do not express them to management for fear that their input will be ignored or
ridiculed. The power to create motivates employee and benefits the organization in
having a more flexible workforce, using more wisely the experience of its
employees, and increasing the exchange of ideas and information among employees
and departments.
Learning: If employees are given the tools and the opportunities to accomplish
more, most will take on the college. Companies can motivate employees to achieve


16

more by committing perpetual enhancement of employee skills. Knowledge gained
can be applied to the work to be accomplished, and then the acquisition of that
knowledge will be a worthwhile event for the employee and employer.
Monetary incentive: For all the championing of alternative motivators, money
still occupies a major place in the mix of motivates. The sharing of companys
profits gives incentives to employees to produce a quality product, perform a quality
service, or improve the quality of a process within the company. Money is effective
when it is directly tied to an employees ideas or accomplishments. Nevertheless, if
not coupled with other, nonmonetary motivators, its motivating effects are short-
lived. Further, monetary incentive can prove counter productive if not made
available to all members of the organization.
Other incentives: Study after study has found that the most effective motivators
of workers are nonmonetary. Monetary systems are insufficient motivators, in part
because expectations often exceed results and because disparity between salaried
individuals may divide rather than unit employees. Proven nonmonetary positive
motivators foster team spirit and include recognition, responsibility, and
advancement.
Managers who recognize the small wins of employees promote participatory
environments, and trust employees with fairness and respect will find their
employees to be more highly motivated.
Theories of Motivation:
Understanding what motivated employees and how they were motivated was
the focus of many researchers following the publication of the Hawthorne study
results (Terpstra, 1979).Six major approaches that have led to our understanding of
motivation are McClellands Achievement Need Theory, Behavior Modification
theory; Abraham H Mallows need hierarchy or Deficient theory of motivation. J.S.
Adams Equity Theory, Vrooms Expectation Theory, Two factor Theory.



17

McClellands Achievement Need Theory:

According to McClellands there are three types of needs;

Need for Achievement:
This need is the strongest and lasting motivating factor. Particularly in case of
persons who satisfy the other needs. They are constantly pre occupied with a desire
for improvement and lack for situation in which successful outcomes are directly
correlated with their efforts. They set more difficult but achievable goals for
themselves because success with easily achievable goals hardly provides a sense of
achievement.

Need for Power:
It is the desire to control the behavior of the other people and to manipulate the
surroundings. Power motivations positive applications results in domestic leadership
style, while it negative application tends autocratic style.

Need for affiliation:
It is the related to social needs and creates friendship. This results in formation of
informal groups or social circle.

Behavioral Modification Theory:
According to this theory people behavior is the outcome of favorable and
unfavorable past circumstances. This theory is based on learning theory. Skinner
conducted his researches among rats and school children. He found that stimulus for
desirable behavior could be strengthened by rewarding it at the earliest. In the
industrial situation, this relevance of this theory may be found in the installation of
financial and non financial incentives.
More immediate is the reward and stimulation or it motivates it. Withdrawal of reward
incase of low standard work may also produce the desired result. However, researches
show that it is generally more effective to reward desired behavior than to punish
undesired behavior.



18

Abraham H Maslow Need Hierarchy or Deficient theory of
Motivation:

The intellectual basis for most of motivation thinking has been provided by
behavioral scientists, A.H Maslow and Frederick Herzberg, whose published works
are the Bible of Motivation. Although Maslow himself did not apply his theory to
industrial situation, it has wide impact for beyond academic circles. Douglas Mac
Gregory has used Maslows theory to interpret specific problems in personnel
administration and industrial relations.
The crux of Maslows theory is that human needs are arranged in hierarchy
composed of five categories. The lowest level needs are physiological and the
highest levels are the self actualization needs. Maslow starts with the formation that
man is a wanting animal with a hierarchy of needs of which some are lower ins scale
and some are in a higher scale or system of values. As the lower needs are satisfied,
higher needs emerge. Higher needs cannot be satisfied unless lower needs are
fulfilled. A satisfied need is not a motivator. This resembles the standard economic
theory of diminishing returns. The hierarchy of needs at work in the individual is
today a routine tool of personnel trade and when these needs a reactive, they act as
powerful conditioners of behavior- as Motivators.
Hierarchy of needs; the main needs of men are five. They are physiological needs,
safety needs, social needs, ego needs and self actualization needs, as shown in order
of their importance.



19


Fig (2.1)

The above five basic needs are regarded as striving needs which make a person do
things. The first model indicates the ranking of different needs. The second is more
helpful in indicating how the satisfaction of the higher needs is based on the
satisfaction of lower needs. It also shows how the number of person who has
experienced the fulfillment of the higher needs gradually tapers off.
Physiological or Body Needs: - The individual move up the ladder responding first
to the physiological needs for nourishment, clothing and shelter. These physical
needs must be equated with pay rate, pay practices and to an extent with physical
condition of the job.

Safety: - The next in order of needs is safety needs, the need to be free from
danger, either from other people or from environment. The individual want to
assured, once his bodily needs are satisfied, that they are secure and will continue to
be satisfied for foreseeable feature. The safety needs may take the form of job
security, security against disease, misfortune, old age etc as also against industrial
injury. Such needs are generally met by safety laws, measure of social security,
protective labor laws and collective agreements.


self actulasition
ego needs
socilal needs
safety needs
physiological needs


20

Social needs: - Going up the scale of needs the individual feels the desire to work
in a cohesive group and develop a sense of belonging and identification with a
group. He feels the need to love and be loved and the need to belong and be
identified with a group. In a large organization it is not easy to build up social
relations. However close relationship can be built up with at least some fellow
workers. Every employee wants to feel that he is wanted or accepted and that he is
not an alien facing a hostile group.

Ego or Esteem Needs: - These needs are reflected in our desire for status and
recognition, respect and prestige in the work group or work place such as is
conferred by the recognition of ones merit by promotion, by participation in
management and by fulfillment of worker surge for self expression. Some of the
needs relate to ones esteem
e.g.; need for achievement, self confidence, knowledge, competence etc. On the job,
this means praise for a job but more important it means a feeling by employee that at
all times he has the respect of his supervisor as a person and as a contributor to the
organizational goals.

Self realization or Actualization needs: - This upper level need is one which
when satisfied provide insights to support future research regarding strategic
guidance for organization that are both providing and using reward/recognition
programs makes the employee give up the dependence on others or on the
environment. He becomes growth oriented, self oriented, directed, detached and
creative. This need reflects a state defined in terms of the extent to which an
individual attains his personnel goal. This is the need which totally lies within
oneself and there is no demand from any external situation or person.

J.S Adams Equity Theory:
Employee compares her/his job inputs outcome ratio with that of reference. If the
employee perceives inequity, she/he will act to correct the inequity: lower
productivity, reduced quality, increased absenteeism, voluntary resignation.


21

Vrooms Expectation Theory:
Vrooms theory is based on the belief that employee effort will lead to performance
and performance will lead to rewards (Vroom, 1964). Reward may be either positive
or negative. The more positive the reward the more likely the employee will be
highly motivated. Conversely, the more negative the reward the less likely the
employee will be motivated.

Two Factor theory:

Douglas McGregor introduced the theory with the help of two views; X assumptions
are conservative in style Assumptions are modern in style.

X Theory:

Individuals inherently dislike work.
People must be coerced or controlled to do work to achieve the objectives.
People prefer to be directed
Y Theory:
People view work as being as natural as play and rest
People will exercise self direction and control towards achieving objectives
they are committed to
People learn to accept and seek responsibility.
Types of Motivation:
1. Intrinsic motivation occurs when people are internally motivated to do
something because it either brings them pleasure, they think it is important,
or they feel that what they are learning is morally significant.
2. Extrinsic motivation comes into play when a student is compelled to do
something or act a certain way because of factors external to him or her (like
money or good grades)





22

Motivation is the key to performance improvement:
There is an old saying you can take a horse to the water but you cannot force it to
drink; it will drink only if it's thirsty - so with people. They will do what they want to
do or otherwise motivated to do. Whether it is to excel on the workshop floor or in
the 'ivory tower' they must be motivated or driven to it, either by themselves or
through external stimulus.
Are they born with the self-motivation or drive? Yes and no. If no, they can be
motivated, for motivation is a skill which can and must be learnt. This is essential for
any business to survive and succeed.
Performance is considered to be a function of ability and motivation,
Thus:

Job performance = f(ability)(motivation)
Ability in turn depends on education, experience and training and its improvement is
a slow and long process. On the other hand motivation can be improved quickly.
There are many options and an uninitiated manager may not even know where to
start. As a guideline, there are broadly seven strategies for motivation.
There are broadly seven strategies for motivation.

Positive reinforcement / high expectations
Effective discipline and punishment
Treating people fairly
Satisfying employees needs
Setting work related goals
Restructuring jobs
Base rewards on job performance
Essentially, there is a gap between an individuals actual state and some desired state
and the manager tries to reduce this gap. Motivation is, in effect, a means to reduce
and manipulate.


23


























CHAPTER-III




















24



















COMPANY PROFILE
























25


Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited
(recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation of expertise,
stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA)
certificate of Registration on 2nd May, 2001 to conduct General Insurance business (including Health
Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores.
Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.
As on 31st March 2010, Bajaj Allianz General Insurance maintained its premier position in the industry
by achieving growth as well as profitability. Bajaj Allianz has made a profit before tax of Rs. 180 crores
and has become the only private insurer to cross the Rs.100 crore mark in profit before tax in the last
four years. The profit after tax was Rs. 121 crores, 27% higher than the previous year.
Bajaj Allianz today has a countrywide network connected through the latest technology for quick
communication and response in over 200 towns spread across the length and breadth of the country.
From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected with the
Head Office at Pune.

Vision
To be the first choice insurer for customers
To be the preferred employer for staff in the insurance industry
To be the number one insurer for creating shareholder value

Mission
As a responsible, customer focused market leader, we will strive to understand the insurance needs of
the consumers and translate it into affordable products that deliver value for money.

A Partnership Based on Synergy

Bajaj Allianz General Insurance offers technical excellence in all areas of General and Health
Insurance as well as Risk Management. This partnership successfully combines Bajaj Finserv's in-
depth understanding of the local market and extensive distribution network with the global experience
and technical expertise of the Allianz Group. As a registered Indian Insurance Company and a capital
base of Rs. 110 crores, the company is fully licensed to underwrite all lines of general insurance
business including health insurance.


Our Achievements


26

Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's Investors Service,
for Claims Paying ability. This rating indicates highest claims paying ability and a fundamentally strong
position.

Bajaj Allianz General Insurance has received the prestigious "Business Leader in General Insurance",
award by NDTV Profit Business Leadership Awards 2008. The company was one of the top three
finalists for the year 2007 and 2008 in the General Insurance Company of the Year award
by Asia Insurance Review.
Life Insurance Plans
CashRich Insurance Plan
A retirement plan from Bajaj Allianz.
Don't just retire, Retire Rich

Online Investment Plans
iGain III
Shield Insurance
Other Insurance Plans
Online Savings and Term Plans
CashRich Insurance
Super CashGain Insurance Plan
Super Saver
New Risk Care II
Term Care
Life Tools
Login and Manage Your Policy
Claim Process
Get Claim Status
Retrieve Saved Quote
Motor Insurance
Motor Insurance Plans
Online Car Insurance
Cashless settlement in preferred workshops. 24 X 7 claim support

Two Wheeler
Cashless settlement in preferred workshops. 24 X 7 claim support
Motor Tools
Commercial Vehicle Insurance
Register a Claim
Retrieve Saved Quote
Health Insurance


27

Health Insurance Plans

For the Individual
Complete Health Protection for an Individual. Get tax benefit

For the Family
Insure your family against expensive treatment costs. Get tax benefit

The perfect health insurance plan for every woman

Extra Care

Top-Up your Existing Cover
Get a 10 lakh top up cover for as little as Rs. 2500. Get tax benefit.Learn
More...
Other Health Plans
Travel Insurance
Travel Insurance Plans
Travel Companion Insurance Plan
A comprehensive travel insurance plan that provides complete medical and
health cover.
Travel Companion
Individual Plan
Family Plan
Senior Citizen Plan (age 61-70)
Travel Elite
Individual Plan
Family Plan
Senior Citizen Plan (age 61-70)
Senior Citizen Plan 2 (age 71-75)
Student Travel
Study Companion Plan
Student Elite Plan
Scholars Guide and Brilliant Minds
Home Insurance


28

About Us
General Insurance
Life Insurance
Bajaj Group
CORE VALUES




Core Values
Share Holders
Financial Highlights
Annual Report
Financial Information
Press Coverage
Contact Us
General Insurance - Office
Become an Agent
Vendor R
At Bajaj Allianz General Insurance, we..
Treat all customers with warmth and respect
Understand and manage customer expectations
Listen and are empathetic to the customer
Engage with the customer in the long term


At Bajaj Allianz General Insurance, we..


29

Lead change
Look for opportunities to innovate at every level
Empower others to take responsible decisions
Show tolerance for failure

At Bajaj Allianz General Insurance, we..
Are accessible to all
Are fair and transparent
Are open to feedback
Keep commitments
Trust each other to do a good job and give due credit
Own up to mistakes


At Bajaj Allianz General Insurance, we..
Take collective ownership for success and failure
Respect divergent views and own the decisions taken
Put organizational interest above team & individual interests
Consciously include and respect people from different
backgrounds



At Bajaj Allianz General Insurance, we..
Set new benchmarks of excellence
Are open to new ideas for raising the bar
Take pride in our work and excel in what we do

Shareholders & Promoters
Bajaj Finserv Limited has been recently demerged from Bajaj Auto Limited which is the largest
manufacturer of two and three-wheelers in India. As a promoter of Bajaj Allianz General Insurance
Company Ltd., Bajaj Finserv Ltd; has the following to offer:-

Vast distribution network through its group companies.
Knowledge of Indian consumers.
Financial strength and stability to support the insurance business.

Bajaj Finserv Limited

Allianz SE, Germany
Allianz SE is in the business of General (Property & Casualty) Insurance; Life & Health Insurance and
Asset Management and has been in operation for over 110 years. Allianz is one of the largest global
composite insurers with operations in over 70 countries. Further, the Group provides Risk
Management and Loss Prevention Services. Allianz has insured most of the world's largest
infrastructure projects (including Hong Kong Airport and Channel Tunnel between UK and France),


30

further Allianz insures majority of the fortune 500 companies. Besides being a large industrial insurer,
Allianz has a substantial portfolio in the commercial and personal lines sector, using a wide variety of
innovative distribution channels

Bajaj Allianz Life Insurance | Channel Partners





Standard Chartered Bank
Contact Number : 3940 4444; Email Address -
customer.care@sc.com
Address : METRO HOUSE, PLOT NO 53,4TH FLOOR, M.G.
ROAD, FORD,
MUMBAI

Dhanlakshmi Bank
Contact Number: 1800 425 1747
E-mail Address: customercare@dhanbank.co.in
Address: Dhanalakshmi Buildings,Corporate Office, Naickanal,
Thrissur 680 001.

Team Life Care Co. (India) Ltd.
Contact Number : 0427 - 2410707; 2420707; Tele Fax -
2421245
Address : 5/118, Yercaud Main Road, Chinnakollapatti, SALEM -
636008.




Complete Life Insurance Product Portfolio

Unit Linked Plans Traditional Plans Pension Plans
ULIPs are life insurance
solutions that provide the
dual benefit of protection
and flexibility in
investments. Choose from
our wide array of Regular
and Single premium
products. Start investing
now!
Looking for both Life Insurance and
Savings? Our wide range of
Endowment and Money Back policies
can help you get a life cover along with
an assured return on maturity.
The right time to plan for your
old age is now. Explore our
pension plans below and start
saving for your golden years
now.
Regular Premium Endowment Pension Plans
iGain III
Money Secure
Insurance Plan
InvestGain
SaveCare Economy SP
Life Time Care
Pension Guarantee


31

Assured Protection
Insurance Plan
Smart Insurance Plan III


Super Saver
Single Premium Money Back
Shield Insurance
Flexi Advantage
Insurance Plan
CashRich Insurance Plan
Super CashGain Insurance Plan
CashGain
ChildGain

Life + Health
Insurance Plans
Term Plans Women Insurance
Plans
Unique hospitalisation-
cum-insurance plan that
takes care of your
hospitalization bills and
provides financial support
to your dependents in
case of your unfortunate
death.
Pure life risk covers for those who are
looking for only insurance and not
investments or savings. Choose from
our plans from below.
To cater to women's special
needs we offer innovative
women specific plans which
provide investment benefits,
savings, retirement solutions
and medical insurance.
Health Plans
Health Care
Family Care First
Protector
Term Care
New Risk Care II
iSecure Insurance Plan
iSecure Loan Insurance Plan
iSecure More Insurance Plan
Women Life Insurance


Additional Benefit Riders
Extend your Life Insurance plan with a variety of additional riders and benefits.
Unit Linked Insurance Plans
Market linked insurance plans invest the premium in to the equity, debt and cash markets by the way
of allocating units, which like any other mutual fund have a NAV and the customer is free to switch
between one fund class to another depending on the risk factor he wishes to be in. ULIPs offer a better
return than the traditional endowment plans and offer a great deal of flexibility along with great returns
making them the finest product offering. We at Bajaj Allianz Life Insurance have developed a number
of Unit Linked Insurance ULIP products which range from single premium to a regular premium option
along with investment funds ranging from index funds to mid-cap funds and debt market linked funds.
Regular Premium Single Premium
iGain III
Money Secure Insurance Plan
Assured Protection Insurance Plan
Shield Insurance Plan
Flexi Advantage Insurance Plan


32

Smart Insurance Plan III

Pension Plans
We at Bajaj Allianz Life Insurance offer Pension Plans which will make sure that we are there to
support you in every stage of your life and your savings in pension plan insurance today become your
wealth and support for your future years to come.

Traditional Plans

Saving Plans that offer bonus are completely safe and are ideal for long term investments. Our
products offer additional benefits including 4 times life cover at little extra costs, limited premium
payment terms and compounded reversionary bonuses. These features make our traditional plans
excellent long term saving instruments.

Endowment Money Back
Invest Gain
Save Care Economy SP
Life Time Care
Super Saver
CashRich Insurance Plan
Super CashGain Insurance Plan
CashGain
ChildGain


CHAPTER-4


DATA ANALYSIS
AND
INTERPRETATION




33






ANALYSIS AND INTERPRETATION OF DATA

1) Sometimes the best motivation is praise. Do you agree?

S NO PARTICULARS NUMBER OF RESPONDENTS PERCENTAGE
1. Agree 52 69%
2. Disagree 1 1.3%
3. Strongly agree 16 21.3%
4. Cant say 6 8%
Total 75 100%

Table no: 1



69%
2%
21%
8%
Motivation is praise
Agree Disagree Strongly agree Cant say


34

Chart No: 1
Analysis: From the above data we can analyze hat 52 of respondents are said
That motivation is praise for their organization.
Interpretation: The table shows that 69% of employees agreed that the
motivation is praise to their organization.
2. Employees should be rewarded for loyalty.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. yes 48 64%
2. No 4 5.33%
3. Not sure 19 25.33%
4. Cannot say 4 5.33%
Total 75 100%

Table no: 2


Chart No: 2

64%
6%
25%
5%
Rewarded for loyalty
yes No Not sure Cannot say


35

Analysis: From the above data we can analyze that 48 respondents are said that
they employees are rewarded for loyalty.
Interpretation: The table shows 64% respondents said that employees are
rewarded for loyalty.

3. Motivation is highly influenced by now you treat your subordinates in
general.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. yes 37 51.388%
2. No 6 8%
3. Not sure 29 38.666%
4. Cannot say 3 4%
Total 75 100%

Table no: 3


Chart No: 3
49%
8%
39%
4%
Motivation is influenced
yes No Not sure Cannot say


36

Analysis: From the above data we can analyze that 37 respondents are said that
motivation is highly influenced in their organization when treat them to their
subordinates.
Interpretation: The table shows that 51% of respondents are said that Motivation
is highly influenced in their organization when treat them to their subordinates

4) Allowing employees to telecommute or set their own office hours can have big
benefit do you agree?
S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Agree 37 51.388%
2. Disagree 6 8%
3. Strongly agree 15 20%
4. Cannot say 15 20%
Total 75 100%

Table no: 4


Chart No: 4
51%
8%
20%
21%
Allowing office hours
Agree Disagree Strongly agree Cannot say


37

Analysis: From the above data we can analyse that 37 respondents areagreed to
Allowing employees to telecommute their office hours is benefit to the
organizaion.
Intepretation: The table shows that 51% respondents are agreed to Allowing
employees to telecommute their office hours is benefit to the organizaio

5.Can money motivate workers?


Table no: 5


Chart No: 5
Analysis: From the above data we can analyze that 57 respondents are said that
76%
5%
16%
3%
Money motivation
1 Yes 2 No 3 Not sure 4 Cannot say
S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 57 76%
2. No 4 5.33%
3. Not sure 12 16%
4. Cannot say 2 2.666%
Total 75 100%


38

Money can motivate to workers in sometimes.
Interpretation: The table shows that 76% respondents are said that money can
motivate to workers.


6. Ability to gather new knowledge on the job very important for workers?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 59 78.666%
2. No 4 5.33%
3. Not sure 8 10.666%
4. Cannot say 4 5.33%
Total 75 100%

Table no: 6



Chart No: 6
79%
5%
11%
5%
Gather Knowledge
1 Yes 2 No 3 Not sure 4 Cannot say


39

Analysis: From the above data we can analyse that 59 respondents are agreed that
to gather
New knowedge on the job is very important for workers.
Interpretation: The table shows that 78% respondents are agreed that ability to
gather new knowledge is important to workers.


6) Organized classes, encouraging sports will help workers?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 54 72%
2. No 3 4%
3. Not sure 15 20%
4. Cannot say 3 4%
Total 75 100%

Table no: 7


Chart No: 7
Analysis: From the above data we can analyse that 54 respondents are said that
72%
4%
20%
4%
organiging classes&encouraging sports
Yes No Not sure Cannot say


40

Organized classes and encouragjng sorts will help to workers in he organization.
Interpretation: The table shows that 72% respondents are said that organized
classes and encouraging sorts will help employees in the organization.




8. Have you undergone any motivation.?

S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 52 69.333%
2. No 10 13.333%
3. Not sure 8 10.666%
4. Cannot say 5 6.666%
Total 75 100%

Table no: 8


Chart No: 8
Analysis: From the table we can analyse that 52 res[pondents are said that
69%
13%
11%
7%
undergone motivation
Yes No Not sure Cannot say


41

They undergone some motivation in their organization.
Interpretation: The table shows that 69% respondents are said that they
undergone some motivation.


9. You think employee motivation is necessary for your organization?

S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 66 88%
2. No 2 2.666%
3. Not sure 6 8%
4. Cannot say 1 1.333%
Total 75 100%

Table no: 9


Chart No: 9

88%
3%
8%
1%
motivation is neccessary
Yes No Not sure Cannot say


42

Analysis: From the above data we n analyse that 66 respondents are said that the
Empoyee motivation is necessary for their oranization.
Interpretation:The table shows that 88% respondents are said that employee
motivation is necessary for their organization.

10. Employee motivation helps for maximize profits productivity?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. To a great extent 39 52%
2. To a some extent 27 36%
3. To a little extent 5 6.666%
4. Cannot say 4 5.33%
Total 75 100%

Table no: 10


Chart No: 10

Analysis: From the above data we can analyse that 39 respondents are said that
52%
36%
7%
5%
motivation helps for profits
To a great extent To a some extent
To a little extent Cannot say


43

Employee motivation helps to theire organjzation to maximize productivit/profits.
Interpretation: The table shows that 52% resondents are said that Employee
motivation helps to theire organjzation to maximize productivit/profits.


11. Do employee feels empowered.?

S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 35 46.666%
2. No 5 6.666%
3. Not sure 27 36%
4. Cannot say 7 9.333%
Total 75 100%

Table no: 11


Chart No: 11

Analysis: From the above data we can analyse that 35 respondents are said that
47%
7%
37%
9%
feels empowered
Yes No Not sure Cannot say


44

Employees are feels empowerd in the organization.
Interpretation: The table shows that 46% respondents are said that Eplmoyees
are feels empowerd in the organization.

12. Are employee goals and company goals aligned.?

S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Agree 27 36%
2. Disagree 8 10.666%
3. Strongly agree 23 30.666%
4. Cannot say 16 21.333%
Total 75 100%

Table no: 12


Chart No: 12

Analysis: From the above data we can analyze that 27 respondents are agreed to
36%
11%
31%
22%
Goals are aligned
Agree Disagree Strongly agree Cannot say


45

Employee goals and company goals are aligned.
Interpretation: The table shows that 36% respondents are agreed to employee
goals and company goals are aligned.

13. You take active part in the employee motivation..?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. a great To extent 35 46.666%
2. To a some extent 13 17.333%
3. To a little extent 13 17.333%
4. Cannot say 4 5.33%
Total 75 100%

Table no: 13



Chart No: 13

54%
20%
20%
6%
Take active part in motivation
a great To extent To a some extent
To a little extent Cannot say


46

Analysis: From the above data we can analyze that 35 respondents are agreed to
They are take active part in the employee motivation.
Interpretation: The table shows that 46% respondents are agreed to
They are take active part in the employee motivation.
14. Are there any recent changes in the company that might have affected
motivation.?
S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 43 57.333%
2. No 14 18.666%
3. Partially yes 17 22.666%
4. Partially no 1 1.333%
Total 75 100%

Table no: 14


Chart No: 14
Analysis:From he above data we can analyse that 43 respondents are said that
57%
19%
23%
1%
Recent changes
Yes No Partially yes Partially no


47

Some recent changes occured in their organization that might have affected to
motivation.
Interpretation: The table shows that 57.333% respondents are said that
Some recent changes occured in their organization that might have affected
motivation.
15. According to you employee motivation is essential to your organization.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 62 82.666%
2. No 2 2.666%
3. Partially yes 10 13.333%
4. Partially no 1 1.333%
Total 75 100%

Table no: 15


Chart No: 15

83%
3% 13%
1%
Motivation is essential
Yes No Partially yes Partially no


48

Analysis: From the above data we can analyse that 52 respondents are agreed to
Employee motivation is essential to their organization.
Interpretation:The table shows that 82.666% respondents are agreed to
Employee motivation is essential to their organization.

16. How do employees feel about your organization..?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Good 27 36%
2. Excellence 7 9.333%
3. Satisfactory 30 40%
4. Unsatisfactory 1 1.333%
Total 75 100%

Table no: 16


Chart No: 16

42%
11%
46%
1%
Feel about organization
Good Excellence Satisfactory Unsatisfactory


49

Analysis: From the above data we can shows that 30 respondents are said that
They feels satisfactory about their organization and 27 respondents are feels good.
Interpretation:The table shows that 40% respondents are said that
They feels satisfactory about their organization and 36% respondents are feels good.

17. Is the companys internal image consists its external one.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 29 38.666%
2. No 1 1.333%
3. Partially yes 29 38.666%
4. Partially no 6 8%
Total 75 100%

Table no: 17


Chart No: 17

45%
1%
45%
9%
Internal image consists its external one
Yes No Partially yes Partially no


50

Analysis: From the above data we can shows that 29 resondents are said that
Their organization internal image consits its external one.
Interpretation: The table shows that 38% resondents are said that
Their organization internal image consits its external one.

18. If your company has mace redundancies. Imposed a recruitment freeze or
lost a number of key people this will have an effect on motivation.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 21 28%
2. No 11 14.666%
3. Partially yes 29 38.666%
4. Partially no 4 5.33%
Total 75 100%

Table no: 18

Chart No: 18

32%
17%
45%
6%
Recruitment freeze effects on motivation
Yes No Partially yes Partially no


51

Analysis: From the above data we can analyse that 29 respondens are said that
If organizaion has mace redudancies lost a number of people this will effect on
motivation.
Interpetation: The table shows that 38% respondens are said that If organizaion
has mace redudancies lost a number of people this will effect on motivation.

19. Your employees may be more motivated if they understand the primary aim
of your organization?

S
NO
PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Yes 60 80%
2. No 2 2.666%
3. Partially yes 11 14.666%
4. Partially no 2 2.666%
Total 75 100%

Table no: 19


Chart No: 19
80%
3%
14%
3%
Employees are motivated if they understand
the primary aim of organizatoin
Yes No Partially yes Partially no


52

Analysis: From the above data we can analyse that 60 resondents ar said that
The emloyees are more motivated if they understand primary aim of their
organization.
Interpretation: The table shows that 80% resondents are said that
The emloyees are more motivated if they understand primary aim of their
organization.

20. How motivated are you seen the companies succeed?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. Very motivated 25 33.333%
2. Some what motivated 40 53.333%
3. Not very motivated 8 10.666%
4. Not at all motivated 2 2.666%
Total 75 100%

Table no: 20


Chart No: 20
33%
53%
11%
3%
MOTIVATION
Very motivated Some what motivated
Not very motivated Not at all motivated


53


Analysis: From the above data we can analyse that 40 respondents are said that
Somewhat motivation is seen in the companies succeed.
Interpretation: The table shows that 53% respondents are said that some what
motivaion is seen in the organizaion.


21. Are you learn some from patches of high and low motivation in your
organization.?

S NO PARTICULARS NUMBER OF
RESPONDENTS
PERCENTAGE
1. a great To extent 26 34.666%
2. To a some extent 22 29.333%
3. To a little extent 22 29.333%
4. Cannot say 5 6.666%
Total 75 100%

Table no: 21


Chart No: 21
35%
29%
29%
7%
Learn some from motivation
a great To extent To a some extent
To a little extent Cannot say


54


Analysis: From the above data we can analyse that 26 respondents said that they
learned some from patches of high and low motivation in organization.

Interpretation: The table shows that 34% respondents are said that they are
learnt some from patches of high and low motivation in organization.


















TEST OF HYPOTHESIS










55





Test of hypothesis

Definition: A definite statement about the population parameters is called
hypothesis.
Need: To study the differences between the population the sample test of hypothesis
is used.
Types: Test of significance Introduction:

Small
Large

Uses: In the project significance test for large sample is used

Z=t-E t/S.E (t), under H
0

t = statistics
E = Errors
S = Stand






56







1. Sometimes the best motivation is praise do you agree?
Hypothesis (H
0
): Best motivation is not praise.
Under Z test it is observed that at 1% level of significance
Z cal (3.8) > Z tab (2.33)
Ho is rejected, i.e., then it is observed that the best motivation is praise.

2. Employees should be rewarded for loyalty?
Hypothesis (H
0
): Employees shouldnt be rewarded for loyalty.
Under Z test it is observed that at 1% level of significance
Z cal (2.8) >Z tab (2.33)
H
0
is rejected, i.e., then it is observed that the employees should be
rewarded for loyalty.

3. Motivation is highly influenced by you treat your subordinates in general?
Hypothesis (Ho): motivation isnt influenced by you treat your subordinates in
general.
Under Z test it is observed that at 1% level of significance
Z cal (0.2) < Z tab (2.33)
Ho is accepted, i.e., then it is observed that the motivation isnt highly
influenced by subordinates.



57

4. Allowing employees to telecommunicate or set their own office hours can
have big benefits do you agree?
Hypothesis (Ho): Allowing employees to telecommunicate their own office hours
cannot have benefit.
Under Z test it is observed that at 1% level of significance
Z cal (0.2) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that allowing employees to
telecommunicate their own office hours cannot have benefit.
5. Can money motivate workers.?
Hypothesis (H
0
): Money cannot motivate workers
Under Z test it is observed that at 1% level of significance
Z cal (5.2) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that money can motivate workers.

6. Ability to gather new knowledge on the job is very important for workers..?
Hypothesis (H
0
): Ability to gather new knowledge on the job isnt very important
for workers.
Under Z test it is observed that at 1% level of significance
Z cal (5.73) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that to gather new knowledge on the job
is important for workers.

7. Organized classes, encouraging sports will help workers.?
Hypothesis (H
0
): Organized classes, encouraging sports will not help workers.
Under Z test it is observed that at 1% level of significance
Z cal (4.4) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that organized classes, encouraging sports
will help workers.



58

8. Have you undergone any motivation..?
Hypothesis (H
0
): Havent undergone motivation.
Under Z test it is observed that at 1% level of significance
Z cal (3.8) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that havent undergone motivation.


9. You think employer motivation is necessary for your organization..?
Hypothesis (H
0
): Employer motivation isnt necessary for organization.
Under Z test it is observed that at 1% level of significance
Z cal (7.6) >Z tab (2.33)
H
0
is rejected, i.e., then it observed that employer motivation is necessary for
organization.

10. Employee motivation helps for maximize profits productivity..?
Hypothesis (H
0
): Employee motivation doesnt help for maximize profits.
Under Z test it is observed that at 1% level of significance
Z cal (3.8) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that employee motivation helps for maximize
the profits.

11. Do employee feels empowered.?
Hypothesis (H
0
): Employee doesnt feel empowered.
Under Z test it is observed that at 1% level of significance
Z cal (0.46) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that employees dont feels empowered.

12. Are employee goals and company goals aligned..?


59

Hypothesis (H
0
): Employee goals and company goals are not aligning.
Under Z test it is observed that at 1% level of significance
Z cal (2.8) >Z tab (2.33)
H
0
is rejected, i.e., then it is observed that employee goals and company goals are
aligning.


13. You take active part in the employee motivation?
Hypothesis (H
0
): Employee doesnt take active part in employee motivation.
Under Z test it is observed that at 1% level of significance
Z cal (0.6) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that employee doesnt take active part in
motivation.

14. Are there any recent changes in the organization that might have affected
motivation?
Hypothesis (H
0
): There is no changes in the organization that might have affected
motivation.
Under Z test it is observed that at 1% level of significance
Z cal (1.46) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that there is no recent changes in organization.

15. According to you employee motivation is essential to your organization?
Hypothesis (H
0
): Employee motivation is not essential to the organization.
Under Z test it is observed that at 1% level of significance
Z cal (6.53) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that employee motivation is essential to the
organization.



60

16. How do employees feel about your organization?
Hypothesis (H
0
): Employees doesnt feel excellent.
Under Z test it is observed that at 1% level of significance
Z cal (2) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that employees doesnt feel excellent about
organization.

17. Is the companys internal image consistent its external one?
Hypothesis (H
0
): Companys internal image is not consists external one.
Under Z test it is observed that at 1% level of significance
Z cal (2.26) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that Companys internal image is not
consists external one.

18. If your company has mace redundancies. Imposed a recruitment freeze or
lost a number of key people this will have an effect on motivation?
Hypothesis (H
0
): This is not effect on motivation.
Under Z test it is observed that at 1% level of significance
Z cal (2.26) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that there is not effect on motivation.

19. Your employees may be more motivated if they understand the primary aim
of your organization?
Hypothesis (H
0
): The employees are not motivated if they understand the primary
aim of the organization.
Under Z test it is observed that at 1% level of significance
Z cal (6) > Z tab (2.33)
H
0
is rejected, i.e., then it is observed that employees are motivated f they
understand the primary aim of the organization.


61


20. How motivated are you to see the organization succeed..?
Hypothesis (H
0
): Employees are not motivated to see the organization succeed.
Under Z test it is observed that at 1% level of significance
Z cal (0.66) < Z tab (2.33)
H
0
is accepted, i.e., then it is observed that Employees are not motivated to see
the organization success











CHAPTER-V

FINDINGS




62






FINDINGS

1. Employees are rewarded for loyalty in the bajaj insurance company .
2. Monetary incentives motivate workers in the bajaj insurance company .
3. If the employees are motivated they will work hardly and this help for
maximize the profits.
4. Employees should take active part in the bajaj insurance company .
5. In the bajaj insurance company employees are feeling good and the
satisfactory with their work.
6. The employees are understood the primary aim and objectives of an
organization.
7. Employee does not feel empowered in the bajaj insurance company .
8. The employees are interested to know/ learn the new technology skills in the
bajaj insurance company .
9. Employees are motivated by subordinates in the bajaj insurance company .













63







SUGGESTIONS

1. The shortage of staff in the bajaj insurance company . Organization should recruit
more number of individuals who is fit in that position.
2. Provide training in handling the technology.
3. Increase the number of technological tools.
4. Provide the canteen in the bajaj insurance company .
5. Organization should specify and convey message through boards and scrollers to
the people who come to bajaj insurance company maintain queue, so that employees
wont get hesitated.














64







CONCLUSION:

The study concludes that, the motivational program procedure in Bajaj insurance
company, is found effective but not highly effective. The study on employee
motivation highlighted so many factors which will help to motivate the employees.
The study was conducted among 75 employees and collected information through
structured questionnaire. The study helped to findings which were related with
employee motivational programs which are provided in the organization.
The motivational activities, subordinates support really play a major role in
motivating the employees of the organization. It is a major factor that makes an
employee feels good in his work and results in his satisfaction too. The organization
can still concentrate on specific areas which are evolved from this study in order to
make the motivational programs more effective. Only if the employees are properly
motivated- they work well and only if they work well the organization is going to
benefit out it. Steps should be taken to improve the motivational programs procedure
in the future. The suggestions of this report may help in this direction.









65

















BIBLIOGRAPHY









66







BIBLIOGRAPHY

1. V S P Rao, 2000, Human Resource Management, second edition Pearson
publications
2. K. Ashwathappa, Human resource management, 5th edition Pearson
publications.
3. Wayne F. Casio, Managing human resource, 7
th
edition Tata mc.grill
publications.
4. P. Mythoi, D.N.Venkatesh, 2006, Human Resource Management, oxford.
5. David Lepak, Mary Gowan, 2009, Human Resource Management,
WEB SITES
6. Http//: WWW.wikepedia.com
7. http//:www.citehr.com
8. Http//:www.scrib.com










67














ANNEXURE









68





QUESTIONNAIRES

1. Name of the employee
2. Designation of the employee
3. Experience.
a) 0-3 b) 3-5 c) 10-15 d) Above 25
4. Age group b) Below 25 b) 25-30 c) 30-40 d) above 40
5. Sometimes the best motivation is praise. Do you agree?
a) Agree b) disagree c) Strongly agree d) Cannot say
6. Employee should be rewarded for loyalty.
a) Yes b) No c) Not sure d) Cannot say
7. Motivation is highly influenced by now you treat your subordinates in general.
a) Yes b) No c) Not sure d) Cannot say
8. Allowing employees telecommute or set their own office hours can have big
benefits. Do you agree?
a) Agree b) disagree c) Strongly agree d) cannot say
9. Can money motivate workers?
a) Yes b) No c) Not sure d) Cannot say
10. Ability to gather new knowledge on the job is very important for workers.
a) Yes b) No c) Not sure d) Cannot say
11. Organized classes, encouraging sports will help to workers.
a) Yes b) No c) Not sure d) Cannot say


69

12. Have you undergone any motivation?
a) Yes b) No c) Not sure d) Cannot say
13. You think employer motivation is necessary for your employees..
a) Yes b) No c) Not sure d) Cannot say

14. Employee motivation helps for maximize profits productivity.
a) To a great extent b) To a some extent
c) To a little extent d) cannot say
15. Do employee feels empowered..
a) Yes b) No c) Not sure d) Cannot say
16. Are employee goals and company goals aligned?
a) Agree b) disagree c) Strongly agree d) cannot say
17. You take active part in the employee motivation.
a) To a great extent b) To a some extent
c) To a little extent d) cannot say
18. Are there any recent changes in the company that might affect employee
motivation?
a) Yes b) No c) Partially yes d) Partially no
19. According to you employee motivation is an essential to your organization.
a) Yes b) No c) Partially yes d) Partially no
20. How do employees feel about your organization?
a) Good b) Excellent c) Satisfactory d) Un satisfactory
21. Is the companys internal image consistent with its eternal one?
a) Yes b) No c) Partially yes d) Partially no
22. If your company has mace redundancies. Imposed a recruitment freeze or lost a
number of key people this will have an effect on motivation.
a) Yes b) No c) Partially yes d) Partially no


70

23. Your employees may be more motivated if they understand the primary aim of
your business.
a) Yes b) No c) Partially yes d) Partially no
24. How motivated are you to see the company succeed.
a) Very motivated b)Some what motivated
c) Not very motivated d) Not at all motivated

25. Are you learn some from patches of high and low motivation in your
organization.
a) To a great extent b) To a some extent
c) To a little extent d) cannot say

26. Give your suggestions for motivate the employees.