A Project On "A Study On Job Satisfaction of Employees ' Max-New York Life Isurence

A Project
On
“A STUDY ON JOB SATISFACTION OF
EMPLOYEES ‘’
MAX-NEW YORK LIFE ISURENCE
K.ALEKYA
Roll N0: 10117
BATCH XVIII, 2010-2012
Report Submitted in partial Fulfillment for the

Award Of
Post Graduate Diploma in Management
VIGNANA JYOTHI INSTITUTE OF

MANAGEMENT
1
Vignana Jyothi Institute Of Management
(APPROVED BY AICTE, MINISTRY OF HRD, GOVT OF INDIA)
BACHUPALLY, HYDERABAD.
2
ACKNOWLEDGEMENT
I hereby convey my deep acknowledgement to all those who made it possible for me to
complete this project, by extending their support and continuous co-operation.
I would like to acknowledge the consistent encouragement extended by Dr. Kamal Ghosh Ray,
Director and Dr. Ch. S. Durga Prasad, Dean-Academic planning of Vignana Jyohi Institute of
Management.
My sincere gratitude to Ramesh, Associate professor, Sadu Durga Prasad associate professor
whose constant guidance, efforts, heartfelt support, suggestions and consideration helped me in
the successful completion of this project.
Finally, I would like to thank all my friends, batch mates and staff members dissertation work
would not have been successfully completed.
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Contents
INTRODUCTION..........................................................................................................4
Objective of the study:...............................................................................................6
Limitations of the study:............................................................................................6
INDUSTRY PROFILE....................................................................................................7
RESEARCH METHODOLOGY:....................................................................................14
REVIEW OF LITERATURE:.........................................................................................15
DATA ANALYSIS AND INTERPRETATION................................................................16
PERCENTAGE ANALYSIS:.......................................................................................16
DATA ANALYSIS........................................................................................................38
Findings:..................................................................................................................46
CONCLUSION:..........................................................................................................47
BIBILOGRAPHY:........................................................................................................47
Questionnaire:.........................................................................................................47
Questionnaire:
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INTRODUCTION
1.1Job Satisfaction:
Job Satisfaction is the favorableness or un-favorableness with which the employee views
his work. It expresses the amount of agreement between one’s expectation of the job and the
rewards that the job provides. Job Satisfaction is a part of life satisfaction. The nature of one’s
environment of job is an important part of life as Job Satisfaction Influences one’s general life
satisfaction. Job Satisfaction, thus, is the result of various attitudes possessed by an employee. In
a narrow sense, these attitudes are related to the job under condition with such specific factors
such as wages. Supervisors of employment, conditions of work, social relation on the job,
prompt settlement of grievances and fair treatment by employer. However, more comprehensive
approach requires that many factors are to be included before a complete understanding of job
satisfaction can be obtained. Such factors as employee’s age, health temperature, desire and
level of aspiration should be considered. Further his family relationship, Social status,
recreational outlets, activity in the organizations etc. Contribute ultimately to job satisfaction.
1.2 FACTORS INFLUENCING JOB SATISFACTION:
The major factors influencing job satisfaction are presented below:
SUPERVISION
To a worker, Supervision is equally a strong contributor to the job satisfaction as well as to
the job dissatisfaction. The feelings of workers towards his supervisors are usually similar to his
feeling towards the company. The role of supervisor is a focal point for attitude formation. Bad
supervision results in absenteeism and labor turnover. Good supervision results in higher
production and good industrial relations.
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CO-WORKERS
Various studies had traced this factor as a factor of intermediate importance. One’s
associates with others had frequently been motivated as a factor in job satisfaction. Certainly,
this seems reasonable because people like to be near their friends. The workers derive
satisfaction when the co-workers are helpful, friendly and co-operative.
PAY
Studies also show that most of the workers felt satisfied when they are paid more adequately
to the work performed by them. The relative important of pay would probably changing factor in
job satisfaction or dissatisfaction.
AGE
Age has also been found to have a direct relationship to level job of satisfaction of
employees. In some groups job satisfaction is higher with increasing age, in other groups job
satisfaction is lower and in other there is no difference at all.
MARITAL STATUS
Marital status has an important role in deciding the job satisfaction. Most of the studies
have revealed that the married person finds dissatisfaction in his job than his unmarried
counterpart. The reasons stated to be are that wages were insufficient due to increased cost of
living, educations to children etc.
EDUCATION
Studies conducted among various workers revealed that most of workers who had not
completed their school education showed higher satisfaction level. However, educated workers
felt less satisfied in their job.
WORKING CONDITION
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The result of various studies shows that working condition is an important factor. Good
working atmosphere and pleasant surroundings help increasing the production of industry.
Working conditions are more important to women workers than men workers.
Objective of the study:

1. To Study the job satisfaction of employees in MAX-NEW YORK LIFE Insurance.
2. To Measure the satisfaction levels of employees on various factors and give suggestions for
improving the same.
3. To find out whether experience have an effect on Job Factors.
4. To find the significance difference among age groups with respect to job Factors.
5. To find the significance difference among male and female Employees with respect to job
Factors.
Scope of study:
The project work entitled “A STUDY ON JOB SATISFACTION OF EMPLOYEES OF
MAX-NEW YORK LIFE INSURANCE LIMITED” Job Satisfaction is the favorableness or un-
favorableness with which the employee views his work. It expresses the amount of agreement
between one’s expectation of the job and the rewards that the job provides. Job Satisfaction is a
part of life satisfaction. The nature of one’s environment of job is an important part of life as Job
Satisfaction influences one’s general life satisfaction. Job Satisfaction, thus, is the result of
various attitudes possessed by an employee. In a narrow sense, these attitudes are related to the
job under condition with such specific factors such as wages. Supervisors of employment,
conditions of work, social relation on the job, prompt settlement of grievances and fair treatment
by employer. However, more comprehensive approach requires that many factors are to be
included before a complete understanding of job satisfaction can be obtained. Such factors as
employee’s age, health temperature, desire and level of aspiration should be considered. Further
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his family relationship, Social status, recreational outlets, activity in the organizations etc.
Contribute ultimately to job satisfaction.
Limitations of the study:

1. Sample size of the study is only 37.
2. Some of the respondents were not responding to some of the Questions.
3. Due to time constraint the researcher was not able to complete the Project to desired level.
INDUSTRY PROFILE
Indian insurance industry History:
Life insurance came to India from England in 1818 when oriental life insurance company started
in Calcutta by Europeans. After this many insurance companies had been started in India. But
these companies were looking after only the needs of European community established in India.
Indian people were not being insured by these companies. First Indian life insurance company
came as Bombay mutual life insurance assurance. Second company was Bharat insurance
company came in 1896. After this the united India in madras, national Indian and national
insurance in Calcutta and the co-operative assurance in Lahore were established in 1906. To
regulate Indian insurance business first insurance act came in 1912 as life insurance company
act and provident fund act. These acts consist of premium rates tables and periodical valuations
of companies. In the first two decade of 20th century many life insurance companies were
started. So the insurance act came in 1938 to governing life and non life insurance companies
and to provide strict state control. In 1956 the life insurance business in India was nationalized.
In 1956 life insurance corporation of India (LIC) was created to spreading life insurance much
more widely particularly in rural areas. In that year LIC had 5 zonal offices, 33 divisional offices
and 212 branch offices. In 1957 the business of LIC of sum assured of 200crores, 1000crores in
1970, and 7000crores in 1986.
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Indian regulatory development authority:
In 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted as an
autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as
a statutory body in April, 2000. The key objectives of the IRDA include promotion of
competition so as to enhance customer satisfaction through increased consumer choice and
lower premiums, while ensuring the financial security of the insurance market. The IRDA
opened up the market in August 2000 with the invitation for application for registrations.
Foreign companies were allowed ownership of up to 26%. The Authority has the power to frame
regulations under Section 114A of the Insurance Act, 1938 and has from 2000 onwards framed
various regulations ranging from registration of companies for carrying on insurance business to
protection of policyholders’ interests.
Role of IRDA:
· Protecting the interests of policyholders.
· Establishing guidelines for the operations of insurers, and brokers.
· Specifying the code of conduct, qualifications, and training for insurance intermediaries and
agents.
· Promoting efficiency in the conduct of insurance business.
· Regulating the investment of funds by insurance companies.
· Specifying the percentage of business to be written by insurers in rural sectors.
· Handling disputes between insurers and insurance intermediaries.
Changing perception of Indian customers:

Indian Insurance consumers are like Indian Voters, they are soft but when time is right and
ripe, they demand and seek necessary changes. De-tariff of many Insurance Products are the
reflection of changing aspirations and growing demand of Indian consumers.
For historical years, Indian consumers were at receiving end. Insurance Product was
underwritten and was practically forced onto consumers on a “Take-it-As-itbasis”. All that got
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changed with passage of IRDA act in 1999. New insurance companies have come into existence
leading to open competition and hence better products for customers.
Indian customers have become very sensitive to Coverage / Premium as well as the Products
(read Risk Solution), that is given to them. There are not ready to accept any product, no matter
even if that is coming from the market leader, should that product is not serving the purpose. A
case in point is ULIP Product / Group Life and Credit Life in Life Insurance segment and Travel
/ Family Floater Health and Liability Insurance in the Non-life segment are new age Avatar. The
new products are constantly being emended by Indian consumers, which is putting huge
pressures on Insurance companies (Read Risk Under-writers) and Brokers to respond.
Customers are looking at Insurance for covering Pure Risk now which I have covered in my
next section. Another good reason why we are seeing quick changes in the buying behavior of
Insurance from mere Investment to risk mitigation is the cost of Replacement of Goods (ROG)
or Cost of Services (COS).
Now Indian customers are aware of insurance industry and insurance products provided by
companies. They have become more sensitive. They would not accept any type of insurance
product unless it fulfills their requirements and needs. In historic day’s customers looking at
insurance products as a life cover which can provide security against any unacceptable events,
but now customers look at insurance products as an investment as well as life cover. So today’s
customers wants good return from the insurance companies. The Indian customer’s forms the
pivot of each company’s strategy. Investment of Indian household savings (as a % in different
sector)
BANK DEPOSITS 39%
CORP. BANKS 2%
SHARES AND DEBENTURES 1%
MUTUAL FUNDS 2%
NBFC’S 3%
GOVT. BONDS 13%
INSURANCE 13%
PF/ RETIRE FUNDS 21%
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CURRENCY 6%
Changing face of Indian insurance industry:

After the Insurance Regulatory and Development Authority Act have been passed there has been
establishment of many private insurance companies in India. Previously there was a monopoly
business for Life Insurance Corporation of India (L.I.C.) who was the only life-insurance
company for the people till 2000. L.I.C. still holds 71.4% of the market share in 2006. But after
the introduction of private life insurance companies there is a great competition in Indian market
now. Everyone is trying to capture the fresh market here and penetrate it with aggressive
marketing strategies. Today life-insurance is not only limited up to just life risk cover and
maturity period bonuses but changed to greater return from the investments. With the
introduction of the unit linked insurance policies these companies are investing the money in
different investment instruments like shares, bonds, debentures, government and other securities.
People are demanding for higher returns with the life risk cover and private companies are
giving 30-40% average growth per annum. These life-insurance companies have every kind of
policies suiting every need right from financial needs of, marriage, giving birth and rearing up a
child, his education, meeting daily financial needs of life, pension solutions after retirement.
These companies have every aspects and needs of our life covered along with the death-benefit.
In India only 25% of the population has life insurance. So Indian life-insurance market is the
target market of all the companies who either want to extend or diversify their business. To tap
the Indian market there has been tie-ups between the major Indian companies with other
International insurance companies to start up their business. The government of India has set up
rules that no foreign insurance company can set up their business individually here and they
have to tie up with an Indian company and this foreign insurance company can have an
investment of only 24% of the total start-up investment.
Indian insurance industry can be featured by:
· Low market penetration.
· Ever growing middle class component in population.
· Growth of customer’s interest with an increasing demand for better Insurance products.
· Application of information technology for business.
· Rebate from government in the form of tax incentives to be insured.
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Today, the Indian life insurance industry has a dozen private players, each of which are making
strides in raising awareness levels, introducing innovative products and increasing the
penetration of life insurance in the vastly underinsured country. Several of private insurers have
introduced attractive products to meet the needs of their target customers and in line with their
business objectives. The success of their effort is that they have captured over 28% of premium
income in five years.
The biggest beneficiary of the competition among life insurers has been the customer. A wide
range of products, customer focused service and professional advice has become the mainstay of
the industry, and the Indian customer’s forms the pivot of each company’s strategy. Penetration
of life insurance is beginning to cut across socio-economic classes and attract people who have
never purchased insurance before.
Life insurance is also now being regarded as a versatile financial planning tool. Apart from the
traditional term and saving insurance policies, industry has seen the entry and growth of unit
linked products. This provides market linked returns and is among the most flexible policies
available today for investment. Now products are priced, flexible, and realistic and sustain so
people in better position to understand the risk and benefits of the product and they are accepting
these innovative products. So it is clear that the face of life insurance in India is changing, but
with the changes come a host of challenges and it is only the credible players with a long term
vision and a robust business strategy that will survive. Whatever the developments, the future
and the opportunities in this industry will surely be exciting. There are 12 private players in
Indian life insurance market. 6 bank owned insurers: - HDFC standard life, ICICI prudential,
ING Vysya, MetLife, OM Kotak, SBI life. 6 independent insurers: - Aviva, ANP sanmar, Birla
sun life, Bajaj Allianz, Max New York life, Tata AIG. Major international insurers are-
Prudential and Standard life from UK, Sun life of Canada, AIG, MetLife and New York life of
the US.
Increasing growth since liberalization:
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YEAR LIC(in bn rs) PRIVATE PLAYER
FY03 110 10
FY04 120 20
FY05 130 40
FY06 140 60
FY07 240 100

Source: - Insurance Industry (ICFAI publication book)
Possibilities for insurance companies in India:

 Further deregulation of the market.
 Greater concern for the customers.
 Newer products and services.
 Competition and quality consciousness.
 Cost effective operations.
 Restructuring of the public sector.
 Consolidation of domestic insurance markets.
 Technology driven shift in product design.
 Actual operations and distribution.
 Convergence of financial services.
Global insurance industry:

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

In this era of globalization, insurance companies face a dynamic global environment.
Dramatic changes are taking place owing to the internationalization of activities, appearance of
new risk, new types of covers to match with new risk situations, and unconventional and
innovative ideas on customer services. Low growth rates in developed markets, changing
customers needs, and the uncertain economic conditions in the developing world are exerting
pressure on insurer’s resources and testing their ability to survive. Now the existing insurers are
facing difficulties from non-traditional competitors those are entering the retail market with new
approaches and through new channels. India has a rapidly growing middle class and this section
can afford to buy insurance products. This shows the attraction that the Indian market holds for
foreign insurers who have been putting pressure on developing countries as well as on India to
open up its market.
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Life insurance penetration as a % of GDP
United kingdom 8.9%
Japan 8.3%
Korea 7.3%
United states 4.1%
Malaysia 3.6%
India 3.0%
China 1.8%
Brazil 1.3%
RESEARCH METHODOLOGY:
The methodology followed for conducting the study includes the specification of research
design, sample design, questionnaire design, data collection and statistical tools used for
analyzing the collected data.
3.1 Research design:

The research design used for this study is of the descriptive type. Descriptive research
studies are those studies which are concerned with describing the characteristics of a particular
individual or a group.
3.2 Sample size:
The sample size consisting of 37 respondents were selected for the study.
3.3 Sampling design:
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Since it is difficult to contact the entire population, sampling technique was adopted. The
employees were interviewed using convenience sampling techniques.
3.4 Questionnaire design:

Questionnaire was designed in consultation with the experts of MAX-NEW YORK
LIFE Insurance Company in such a manner that it would facilitate the respondents to reveal
maximum information.
3.5 Data collection

The primary data was collected by using questionnaires. The questionnaire has
23 questions excluding marital status, age, factor prompted to join reliance. A five point scale
was used such as strongly disagree, disagree, neutral, agree and strongly agree.
3.6 Statistical tools used for analysis
The collected data were analyzed by using following techniques:

➢ Percentage analysis
➢ One-way ANOVA
Research Design:
The research design comprise of the plan and structure of investigation conceived so as
to arrive at the responses to the research queries. It there by addresses the aims and objectives of
the study, both descriptively and analytically.
Sources of Data Collection:
Both secondary and primary sources of data are utilized for the purpose of this
study. Primary data is collected by means of administering a questionnaire to the Executives in
Max Newyork life Insurance Company. Secondary data is collected from various records.
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REVIEW OF LITERATURE:
JOB SATISFACTION OF MAX-NEW YORK LIFE IN India
This study attempts to evaluate job satisfaction of MAX-NEW YORK LIFE in India. It focuses
on the relative importance of job satisfaction factors and their impacts on the overall job
satisfaction of officers. It also investigates the impacts of bank type, work experience, age, and
sex differences on the attitudes toward job Satisfaction. The result shows that salary, efficiency
in work, fringe supervision, and co-worker relation are the most important factors contributing
to job satisfaction. Private MAX-NEW YORK LIFE have higher levels of job satisfaction than
those from public sectors as they enjoy better facilities and supportive work environment. Sex
and age differences have relatively lower level of impact on it. The overall job satisfaction of the
MAX-NEW YORK LIFE is at the positive level.
DATA ANALYSIS AND INTERPRETATION

PERCENTAGE ANALYSIS:
TABLE NO. 1
Gender frequency:
Frequency Percentage
Male 80 80
Female 20 20
Total 100 100
Interpretation:
From the above table we can predict that male respondents are more than female from the
organizations. 80% male responded whereas only 20% female are responded.
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Table no: 2
MONTHLY INCOME
Frequency Percent
Below rs.10000 2 2
10000-20000 15 15
20000-30000 10 10
Above 30000 10 10
Total 37 37
Interpretation:
From the above table it is evident that the monthly income between 10000-20000 is more i.e
16% than compare to others.
Table No: 3
Education qualification:
P.G 90 90
U.G 10 10
Total 100 100
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Interpretation:
From the above table we can say that P.G students’ percent is more in life
insurance jobs than U.G. i.e 90% P.G whereas only 10% U.G are
participating.
Table No: 4
Years of Experience:
Less than 1yr 8 8
1-2 yrs 26 26
2-3 yrs 20 20
3-4 yrs 26 26
Above 4yrs 20 20
Total 100 100
Interpretation:
From the above table we can predict that most of the employees are having
experience of 2 to 4 yrs i.e 26%of the employees are staying in job.
Table No: 5
Working hours are convenient for me:
19
strongly agree 34 34
Agree 32 32
neither agree nor disagree 18 18
Disagree 13 13
strongly disagree 3 3
Total 100 100
Interpretation:
From the above chart and table it is clearly evident that 34% of the respondents strongly agree
that working hours are convenient from them and 32% agree with that and 18% neither agree
nor disagree and 13% disagree with the working hours and 3% are strongly against working
hours.
Table No: 6
I'm happy with my work place:
Agree 39 39
Disagree 8 8
Total 100 100
20
Interpretation:
From the above table it is clear that 30% respondents strongly agree and 39% respondents agree
that they are happy with their work place only 13% disagreed and 18% have no idea towards
their work place.
Table No: 7
I feel i have too much work to do
strongly agree 7 7
Agree 9 9
Disagree 37 7
Total 100 100
Interpretation:
From the above table it is quite clear that the work load is not high, 37% of the respondents
disagreed with the question” I feel I have too much work” and another 22% strongly disagreed,
18% admits they have too much work and 23% have no idea towards this question.
Table No: 8
Safety measures provided by the company
21
Agree 31 31
Disagree 11 11
Total 100 100
Interpretation:
From the above table it is evident that the safety measures provided by the organizations are
good as 28% and 31% of the respondents agree with that and only 11% and 6% disagreed and
24% neither agreed nor disagreed.
Table No: 9
My relationship with my supervisor is cordial
Agree 41 41
Disagree 6 6
Total 100 100
Interpretation:
22
From the above table it is clear that relationship between employees and their supervisors are
cordial because 30% of respondents strongly agreed to it and 41% agreed to it and only 13%
disagreed and 16% of respondents have neither agreed nor disagreed.
Table No: 10
My supervisor is not partial
Agree 30 30
Disagree 19 19
Total 100 100
Interpretation:
From the above table it is evident that the supervisors are not partial to the employees as 18%
strongly agreed and 30% agreed to the question but 19% disagreed and 18% strongly disagreed
this level is quite high compared to other questions.
Table No: 11
My supervisor considers my idea too while taking decision
Agree 43 43
23
Disagree 2 2
Total 100 100
Interpretation:
From the above table it is clear that 26 and 42% of the respondents agree that supervisors
consider their employees ideas also and only 5% disagreed and 26% neither agreed nor
disagreed.
Table No: 12
I'm satisfied with the support from my co-workers
Agree 47 47
Disagree 9 9
Total 100 100
Interpretation:
24
From the above table it is clear that relation with co-workers is quite good as nearly 68% of the
respondents agree that they are satisfied with support from co-workers and only 15% disagreed
and 16% have no answer to this
Table No: 13
People here have concern from one another and tend to help one another
Agree 41 41
Disagree 9 9
Total 100 100
Interpretation:
From the above table it is clear that in this organization people have concern over each other as
26% strongly agreed and 41% agreed and only 14% disagreed and 19% neither agreed nor
disagreed.
Table No: 14
I'm satisfied with the refreshment facilities
25
strongly agree 9 9
20 20 20
Disagree 26 26
Total 100 100
Interpretation:
From the above table it is clear that the employees are not satisfied with the refreshment
facilities offered by the company as 26% of respondents disagreed and 15% strongly disagreed
and 30% neither agreed nor disagreed and only 29% agreed.
Table No: 15
We are provided with the rest and lunch room and they are good
strongly agree 8 8
Agree 16 16
Disagree 34 34
Total 100 100
26
Interpretation:
From the above table it is quite evident that 24% strongly disagreed and 30% of the respondents
disagreed and 22% neither agreed nor disagreed and only 24% of the respondents are satisfied
with the rest and lunch room provided.
Table No: 16
The parking space for our vehicles are satisfactory
strongly agree 4 4
Agree 9 9
Disagree 32 32
Total 100 100
Interpretation:
From the above table it is clear that respondents are not satisfied with the parking facilities
provided by the company as 31% of respondents strongly disagreed and 32% of respondents
disagreed and only 13% of respondents are satisfied with the parking facilities and 24% have
neither agreed nor disagreed.
Table No: 17
I fell I'm paid a fair amount for the work i do:
27
Agree 39 39
Disagree 13 13
Total 100 100
Interpretation:
From the above table it is evident that the respondents are satisfied with their salary as 39%
agree and 15% strongly agree. Only `3% disagree and 8% strongly disagree, 25% neither agree
nor disagree.
Table No: 18
I'm satisfied with the chances for my promotion:
Agree 43 43
Disagree 9 9
Total 100 100
Interpretation:
28
From the above table it is quite clear that employees are satisfied with their chances for
promotion as 43% agree and 27% strongly agree. Only 9% disagree and 8% strongly disagree,
13% neither agree nor disagree.
Table No: 19
The salaries we receive are good as other organizations offer pay to their
Employees
Agree 37 37
Disagree 6 6
Total 100 100
Interpretation:
From the above table it is quite clear that the salary in this organization is at par to the industry
as 37% agree and 27% strongly agree. Only 6% disagree and 4% strongly disagree, 26% neither
agree nor disagree.
Table No: 20
I'm satisfied with the allownaces provided by the organization:
29
Agree 42 42
Disagree 11 11
Total 100 100
Interpretation:
From the above table it is clear that the employees are satisfied with the allowances and other
benefits provided by the organization as 42% agree and 19% strongly agree. Only 11% disagree
and 7% strongly disagree, 21% neither agree nor disagree.
Table No: 21
I feel my boss motivate me to achieve the organizational goals
Agree 33 33
Disagree 22 22
Total 100 100
Interpretation:
30
From the above table it is evident that employees boss are motivating to achieve organizational
goals as 33% agree and 11% strongly agree. 22% disagree this is quite high compared to other
factors and 9% strongly disagree and 25% neither agree nor disagree.
Table No: 22
My supervisor motivates me to increase my efficiency at times when i'm not
Agree 44 44
Disagree 13 13
Total 100 100
Interpretation:
From the above table it is evident that employees boss motivates the employee when he is
unproductive and help him to be productive as 44% agree and 18% strongly agree. Only 7%
strongly disagree and 7% disagree, 18% neither agree nor disagree.
Table No: 23
Overall I'm satisfied with my job:
Agree 33 33
31
Disagree 15 15
Total 100 100
Interpretation:
From the above table it is evident that Overall satisfactions of the respondents are good as 33%
agree and 21% strongly agree. Only 6% strongly disagree and 15% disagree and 25% neither
agree nor disagree.
DATA ANALYSIS
ANOVA: ONE WAY ANALYSIS.
1) Whether there is a significant difference in the respondents of various experience groups

with regard to environment and nature of work.
H0:
There is no significant difference among respondents of various experience groups with regard
to Environment and nature of work factor.
H1:
There is significant difference among respondents of various experience groups with regard to
Environment and nature of work factor
Table: Environment and Nature of work

Sum of DOF Mean square F(cal) F(significant)
squares
At α=0.05
32
Between 591 4 .148 .465 .761
groups
Within groups 30.168 95 .318
total 30.758 99
Interpretation:
Since the significant difference is greater than 0.05 accept null hypothesis and reject alternate
hypothesis which says, there is no significant difference among respondents of various
experience with respect to environment and nature of work.
2) Whether there is a significant difference between supervisors and colleagues

relationship.
H0:
to the factor Relationship with supervisors and colleagues.
H1:
the factor Relationship with supervisors and colleagues.
Table: Relationship with supervisors and colleagues

squares
At α=0.05
Between 1.199 4 .300 1.273 .286
groups
Within groups 22.376 95 236
Total 23.576 99
33
Interpretation:
experience with respect to Relationship with supervisors and colleagues.
3) Whether there is a significant difference in the factor welfare facilities.

H0:
to the factor Welfare facilities
H1:
the factor Welfare facilities
Table: Welfare facilities

squares
At α=0.05
Between 1.741 4 .435 1.441 .227
groups
Total 30.440 99
Interpretation:
34
experience with respect to welfare facilities.
4) Whether there is a significant difference between pay and promotion.
H0:
to the factor Pay and Promotion.
H1:
the factor Pay and Promotion.
Table: Pay and Promotion

squares
At α=0.05
Between 3.148 4 787 .369 .082
groups
Total 38.165 99
Interpretation:
experience with respect to Pay and promotion.
5) Whether there is a significant difference between communication and motivation.
35
H0:
to the factor Communication and Motivation.
H1:
the factor Communication and Motivation.
Table: Communication and Motivation

squares
At α=0.05
Between .937 4 95 .652 .627
groups
Within groups 34.100 95 95
Total 35.037 99
Interpretation:
experience with respect to communication and motivation.
6) Whether there is a significant difference in job factor with respect to experience.
H0:
to Job Factors.
36
H1:
Job Factors
Table: Job factor

squares
At α=0.05
Between 1.437 4 .359 .867 .487
groups
total 40.798 99
Interpretation:
.
experience with respect to Job factors.
7) Whether there is a significant difference in job factor with respect to age group.
H0:
There is no significant difference among respondents of various Age groups with regard to Job
Factors.
H1:
There is significant difference among respondents of various Age groups with regard to Job
Factors.
Table: Job factor
37
squares At α=0.05
Between .007 2 .004 .009 .991
groups
Total 40.798 99
Interpretation:
hypothesis which says, there is significant difference among respondents of various age groups
with respect to Job factors.
8) Whether there is a significant difference in job factor with respect to gender.
H0:
There is no significant difference among respondents of various genders with regard to Job
Factors.
H1:
There is significant difference among respondents of various genders with regard to Job Factors.
Table: Job factor

squares
At α=0.05
Between .036 1 .038 .086 .770
groups
Total 40.798 99
38
Interpretation:
hypothesis which says, there is no significant difference among respondents of various genders
with respect to Job factors.
Descriptive Statistics:
N Minimum Maximum Mean Std.Deviation

Environment and nature 100 1.40 4.20 2.4960 .55740
of work
Relationship with 100 1.00 3.80 2.3620 .48799
supervisors and
colleagues
Welfare facilities 100 2.00 4.60 3.4600 .55450
Pay and promotion 100 1.00 4.00 2.3900 .62089
Communication and 100 1.25 4.00 2.5725 .59490
motivation
Job factor 100 1.20 4.40 2.5400 .56174
Valid N 100
39
Findings:
The descriptive statistics table helps us to derive satisfaction level of
employees on various factors:
➢ The respondents are satisfied with the environment and nature of
work factors as their mean value is near to 2.50
➢ The respondent’s relationship with the superiors and colleagues are

quite good as their mean value is 2.36 is an agreeable level.
➢ The Respondents are not provided with proper welfare facilities that’s
the reason the mean value is quite high at 3.46 levels which is
disagree level.
➢ The communication and motivation of employees by their superiors in

this organization is reasonable as the mean value is 2.57.
➢ The Pay and promotion activities in this organization is also good as

their mean value is 2.4
➢ The Respondents are overall satisfied with their job as their mean
value is 2.54 which is an agreeable level.
➢ The Parking facilities provided by the organization are not good that’s
why most respondents disagree with this question.
➢ The refreshment facilities are also need to be improved because most

of the employees are dissatisfied on this factor.
➢ The Rest room facilities in the company are not good and they are not
satisfied with the lunch facilities.
CONCLUSION:
The major implications are to know the Job Satisfaction of Employees in Max-New York Life
Insurance Company. From the research, certain suggestions could be arrived at with the help of
40
available and relevant data. This in turn could enable one to understand the growth and
development of a company and that of its employees.
We also find that Job factor in not differ by gender and age but slightly differ with
experience people.
The rating by peer and subordinates is not followed which is shortcoming. Absence of
project end reviews poses as a limitation. Implementation may not be as planned because of time
constraints and span of reports.
BIBILOGRAPHY:
• WWW.GOOGLE.COM
• WWW.MAXNEWYORKLIFE.COM
• WWW.INDIAHOUSING.COM
• WWW.SURVEYMONKEY.COM
Questionnaire:
1. Age: ………………
2. Gender: Male Female
3. Monthly Income:
A) Below Rest. 10,000 B) 10,000- 20000 C) 20,000-30000 D) Above
30,000
4. Education Qualification:
A) Under graduation B) Post – graduation
5. Years of experience:
A) Less than 1yr B) 1-2 yrs C) 2-3 yrs D) 3-4 yrs E) Above 4yrs
6. Please indicate your level of agreement in connection with various
Factors:
1. Strongly agree 2. Agree 3. Neither agree nor disagree 4. Disagree
5. Strongly Disagree
Work Environment and nature of work
41
S.NO Particulars 1 2 3 4 5
1 Working hours are

convenient for
Me
2 I’m happy with my work

place
3 The lighting and other
arrangements in
the office are

satisfactory
4 I feel I have too much

work to do
5 I’m satisfied with the

safety
measures
provided by my
company
Relationship with supervisors and colleagues
6 My relationship with my
supervisor is
7 My supervisor is not partial
8 My supervisor consider my
ideas too while making
decision
42
9 I am satisfied with the
support from my
coworkers
10 People here have concern

for one another and tend
to help one other.
Welfare Facilities
11 I am satisfied with the

refreshment facilities
12 We are provided with the rest

and lunchroom and they are
good
13 The parking facilities provided

for our vehicles are
satisfactory
14 I am satisfied with the first aid
facilities
15 I’m satisfied with the Loan

facilities and other personal
welfare benefits offered by
company
Pay and promotion
43
16 I feel I’m being paid a fair

amount for the work I do
17 I’m satisfied with my

chances for promotion
18 The salaries we receive are

good as other
organizations pay to their
employees.
19 I’m satisfied with the

allowances provided by my
organization
Communication and motivation
20 I feel that my Boss

motivate me to achieve
the organization goal.
21 My supervisor motivates
me to
Increase my efficiency at
times when I’m not
productive
22 Communication seem good

within this Organization
44
23 Work assignments are
explained clearly to me
Job factors
24 I love my job and to work

in this Organization
25 My work life is meaningful
26 I consider that my work is

valuable in attaining my
organizational goals
27 Have adequate
opportunity to use My
Ability
28 Overall, I’m satisfied with

my job
SUGGESTION--------------------------------------------------------------
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45

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A Project

Report Submitted in partial Fulfillment for the

VIGNANA JYOTHI INSTITUTE OF

1.2 FACTORS INFLUENCING JOB SATISFACTION:

The major factors influencing job satisfaction are presented below:

Objective of the study:

Limitations of the study:

Changing perception of Indian customers:

Changing face of Indian insurance industry:

Increasing growth since liberalization:

FY07 240 100

Possibilities for insurance companies in India:

Global insurance industry:

Influence on Indian insurance industry:

United states 4.1%

3.1 Research design:

3.2 Sample size:

3.3 Sampling design:

3.4 Questionnaire design:

3.5 Data collection

3.6 Statistical tools used for analysis

The collected data were analyzed by using following techniques:

Sources of Data Collection:

DATA ANALYSIS AND INTERPRETATION

I feel i have too much work to do

1) Whether there is a significant difference in the respondents of various experience groups

Table: Environment and Nature of work

2) Whether there is a significant difference between supervisors and colleagues

Table: Relationship with supervisors and colleagues

3) Whether there is a significant difference in the factor welfare facilities.

Table: Welfare facilities

4) Whether there is a significant difference between pay and promotion.

Table: Pay and Promotion

5) Whether there is a significant difference between communication and motivation.

Table: Communication and Motivation

6) Whether there is a significant difference in job factor with respect to experience.

Table: Job factor

8) Whether there is a significant difference in job factor with respect to gender.

Table: Job factor

N Minimum Maximum Mean Std.Deviation

➢ The respondent’s relationship with the superiors and colleagues are

➢ The communication and motivation of employees by their superiors in

➢ The Pay and promotion activities in this organization is also good as

➢ The refreshment facilities are also need to be improved because most

Work Environment and nature of work

1 Working hours are

2 I’m happy with my work

3 The lighting and other

the office are

4 I feel I have too much

5 I’m satisfied with the

Relationship with supervisors and colleagues

7 My supervisor is not partial

10 People here have concern

11 I am satisfied with the

12 We are provided with the rest

13 The parking facilities provided

14 I am satisfied with the first aid

15 I’m satisfied with the Loan