Employee Job Satisfaction A Study at ICICI Prudential Life Insurance Co Ltd

OBJECTIVES

The main objective of this Employee Job Satisfaction A Study MBA HR Project at ICICI Prudential Life Insurance Co Ltd is to describe the various expectations that determine the satisfaction level of employee.

To identify the factors concerning employee job satisfaction and to analyze and interpret the collected data.

LIMITATIONS

1. Due to the constraint of time and resources, the study was conducted in ICICI Prudential Life Insurance Co. Ltd and the results of the study cannot be generalized.
2. The accuracy of the analysis and conclusion drawn entirely depends upon the reliability of the information provided by the employees.
3. Sincere efforts were made to cover maximum departments of the employees, but the study may not fully reflect the entire opinion of the employees.
4. In the fast moving/changing employee’s behavior, many new and better things may emerge in the near future, which cannot be a safeguard in this report.
5. Confidential matters restricted to an in-depth study.

FINDINGS

• 78% of employees are receiving regular job performance feedback in the organization, remaining 22% of employees specified that the organization needs to take regular job performance feedback.
• 80% of the employees said that they are satisfied with the employee welfare programmes
• 80% of employees felt that they are treated fairly by the superiors as well as by the organization members
• 74% of respondents satisfied with the employee policies at the company remaining 6% are neutral and 20% of respondents are dissatisfied.
• 62% of respondents are satisfied with the salary structure, 18% of respondents are extremely satisfied, 7% of the respondents are neutral, 13% of the respondents are dissatisfied that the company offers a salary structure.
• 50% of respondents said good about the safety and health standard of the company.
• 55% of respondents are giving very important towards the recognition and 35% of respondents are giving importance remaining 10% respondents are neutral towards the recognition.
• 20% of the respondents are highly satisfied with their position in the company and 30% of respondents are satisfied 10% are neither or nor 40% of respondents are dissatisfied with their position.
• 62% of the respondents satisfied with the vision & values of management, 18% of the respondents are highly satisfied.
• 28% of the respondents felt relaxed, 58% are felt normal, and remaining 14% of the respondents felt the work is burdened for them.
• 80% of respondents give more importance to training & development provided by the company,10% are neutral, 10% of respondents have not given importance.
• 72% of the respondents have expressed satisfaction towards existing career plan & growth opportunities in ICICI Prudential Life Insurance.
• 65% of employees are receiving cooperation from all other departments remaining 35% of employees are not receiving cooperation from all other departments.
• 40% of respondents are satisfied with the company’s quality management system.
• 71% of the respondents are satisfied with the reward system which is provided by the company.
• 80% of the employees agree the organization environment is suitable for developing their self-esteem
• 63% of respondents are satisfied with the appraisal system of the company, 27% of respondents are dissatisfied, 10% of respondents are neutral.
• 65% of respondents felt duty timings schedule is convenient remaining 35% of respondents felt duty timings schedule is inconvenient.

SUGGESTIONS

• The organization should try to maintain the same level of satisfaction among employees through better recognition & reward system mechanism.
• The organization may further try to create a healthy competitive environment through its Programs like employee meeting.
• An organization may go for facilitating the security for the employees and create awareness about the safety measures provided by the company.
• For improving the employee’s problem-solving abilities company HR Manager has to take training sessions through the Case study Methods.
• The company has to provide some better packages like Target achieve incentives, Cash Awards.
  The company has to give the salaries through their performances and provide better positions to best workers.
• Mainly company has to decentralize the authority to make decisions for better growth and Provide all above-mentioned benefits to the employees.