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A

PROJECT REPORT ON

A STUDY ON EMPLOYEE MOTIVATION AT BAJAJ ALLAINZ

In Partial fulfilment for the Award of the degree of


BACHELORS OF BUSINESS ADMINISTRATION (BBA)

(2016-19)

Submitted by

G.SACHIN GIRI

(Regd No: 16041)

Under the esteemed guidance of


Mr. Rakesh Sharma

Department of Commerce and Management


Dr.Narayana College of Commerce, Kukatpally
(Affiliated to Osmania University)
HYDERABAD
ACKNOWLEDGEMENT

It is great pleasure to take the opportunity to acknowledge and express


my gratitude to all those who helped me throughout my project first of
all I would like to take this opportunity to thank our beloved Dr
S.L.Narayana, Chairman of Dr Narayana College of Commerce
affiliated to Osmania University for having allotted project work as a
part of BBA course.

I also Express my sincere thanks to Dr John Moses, Principal , Dr


Narayana Degree College of Commerce, for giving me permission for
taking up my project work.

I also thank Mr Rakesh Sharma , Vice-Principal and Faculty of


Department of Management , Dr Narayana Degree College of
Commerce , for giving me this opportunity to take up the project work
and helping me throughout the project .

Finally I would also like to thank all the staff members in the
Department of Management , Dr Narayana Degree College of
Commerce ,for their support during the project.

G.SACHIN GIRI
Regd no : 16041
CERTIFICATE

This is to certify that the Project Report titled “A STUDY ON EMPLOYEE


MOTIVATION AT BAJAJ ALLAINZ LTD”being submitted byMR.
G.SACHIN GIRI impartial fulfilment for the award of the degree of Bachelors
of Business Administration (BBA) from Dr. Narayana College of commerce,
Kukatpally affiliated to O.U. Hyderabad, is a record of bonafide work carried
out by her under my guidance and supervision, .This has not been submitted to
any other University or Institution for the award of any
degree/diploma/certificate.

Rakesh Sharma. A (MBA)


FACULTY
Dr. Narayana College of Commerce,
Kukatpally,
Hyderabad.

Dr. John Moses (M.com, Ph.D.)


PRINCIPAL
Dr.Narayana College of Commerce,
Kukatpally
Hyderabad
DECLARATION

I hereby declare that this Project Report title A STUDY ON EMPLOYEE


MOTIVATION AT BAJAJ ALLAINZ LTDbeing submitted is a bonafide
work carried out byme for the award of degree of Bachelor of Business
Administration (BBA) from Dr.Narayana College of commerce, Kukatpally
affiliated to O.U. Hyderabad, under the guidance of Mr .Rakesh Sharma,
FACULTY, Dr.Narayana College of Commerce, for the Academic year 2016-
19 and it is not submitted to any other University or Institution for the award of
any degree / diploma certificate or published any time before.

(G.SACHIN GIRI)
RegdNo :16041
EMPLOYEE MOTIVATION

HUMAN RESOURCE MANAGEMENT

1.1 INTRODUCTION:
Human Resource Management (HRM) is a relatively new
approach to managing people in any organisation. People are considered
the key resource in this approach. it is concerned with the people
dimension in management of an organisation. Since an organisation is a
body of people, their acquisition, development of skills, motivation for
higher levels of attainments, as well as ensuring maintenance of their level
of commitment are all significant activities. These activities fall in the
domain of HRM. Human Resource Management is a process, which
consists of four main activities, namely, acquisition, development,
motivation, as well as maintenance of human resources.

Scott, Clothier and Spiegel have defined: Human Resource


Management as that branch of management which is responsible on a staff
basis for concentrating on those aspects of operations which are primarily
concerned with the relationship of management to employees and
employees to emp loyees and with the development of the individual and
the group. Human Resource Management is responsible for maintaining
good human relations in the organisation. It is also concerned with
development of individuals and achieving integration of goals of the
organisation and
those of the individuals. North considers human resource management as
an extension of general management, that of prompting and stimulating
every employee to make his fullest contribution to the purpose of a
business. Human resource management is not something that could be
separated from the basic managerial function. It is a major component of
the broader managerial function.
1.1.1 Definitions:
According to French Wendell, Human resource management as the
recruitment, selection, development, utilisation, compensation and
motivation of human resources by the organisation.

According to Edwin B. Flippo, Human resource management is the


planning, organising, directing and controlling of the procurement,
development, resources to the end that individual and societal objectives
are accomplished. This definition reveals that human resource (HR)
management is that aspect of management,

This deals with the planning, organising, directing and controlling the
personnel functions of the enterprise.

1.1.2 Objectives:

The basic objective of human resource management is to contribute to


the realisation of the organisational goals. However, the specific
objectives of human resource management are as follows:

To ensure effective utilisation of human resources, all other organisational


resources will be efficiently utilised by the human resources.

To establish and maintain an adequate organisational structure of


relationship among all the members of an organisation by dividing of
organisation tasks into functions, positions and jobs, and by defining
clearly the responsibility, accountability, authority for each job and its
relation with other jobs in the organisation.

To generate maximum development of human resources within the


organisation by offering opportunities for advancement to employees
through training and education.

To ensure respect for human beings b y providing various services and


welfare facilities to the personnel.

To ensure reconciliation of individual or group goals with those of the


organisation in such a manner that the personnel feel a sense of
commitment and loyalty towards it.
1.1.3 FUNCTIONS OF HUMAN RESOURCE
MANAGEMENT:
The main functions of human resource management

are classified into two categories:

Managerial Functions and (b) Operative

Functions Managerial Functions:


1.1.3.1 Following are the managerial functions of Human Resources
Management.

Planning:

The planning function of human resource department pertains to the steps taken
in determining in advance personnel requirements, personnel programmes,
policies etc. After determining how many and what type of people are required,
a personnel manager has to devise ways and means to motivate them.

Organisation:

Under organisation, the human resource manager has to organise the operative
functions by designing structure of relationship among jobs, personnel and
physical factors in such a way so as to have maximum contribution towards
organisational objectives. In this way a personnel manager performs following
functions :

Preparation of task force;


Allocation of work to individuals;

Integration of the efforts of the task force;


Coordination of work of individual with that of the department.

Directing:

Directing is concerned with initiation of organised action and stimulating the


people to work. The personnel manager directs the activities of people of the
organisation to get its function performed properly. A personnel manager guides
and motivates the staff of the organisation to follow the path laid down in
advance.

Controlling:

It provides basic data for establishing standards, makes job analysis and
performance appraisal, etc. All these techniques assist in effective control of the
qualities, time and efforts of workers.

Operative function:

The operative functions are those tasks or duties which are specifically entrusted
to the human resource or personnel department. These are concerned with
employment, development, compensation, integration and maintenance of
personnel of the organisation.
The operative functions of human resource or personnel department are
discussed below:

1. Employment:

The first operative function of the human resource of personnel department is


the employment of proper kind and number of persons necessary to achieve the
objectives of the organisation. This involves recruitment, selection, placement,
etc. of the personnel.

Before these processes are performed, it is better to determine the manpower


requirements both in terms of number and quality of the personnel. Recruitment
and selection cover the sources of supply of labour and the devices designed to
select the right type of people for various jobs. Induction and placement of
personnel for their better performance also come under the employment or
procurement function.

2. Development:

Training and development of personnel is a follow up of the employment


function. It is a duty of management to train each employee property to develop
technical skills for the job for which he has been employed and also to develop
him for the higher jobs in the organisation. Proper development of personnel is
necessary to increase their skills in doing their jobs and in satisfying their
growth need.

For this purpose, the personnel departments will device appropriate training
programs. There are several on- the-job and off-the-job methods available for
training purposes. A good training program should include a mixture of both
types of methods. It is important to point out that personnel department arranges
for training not only of new employees but also of old employees to update their
knowledge in the use of latest techniques.

3. Compensation:

This function is concerned with the determination of adequate and equitable


remuneration of the employees in the organisation of their contribution to the
organisational goals. The personnel can be compensated both in terms of
monetary as well as non-monetary rewards.

Factors which must be borne in mind while fixing the remuneration of personnel
are their basic needs, requirements of jobs, legal provisions regarding minimum
wages, capacity of the organisation to pay, wage level afforded by competitors
etc. For fixing the wage levels, the personnel department can make use of
certain techniques like job evaluation and performance appraisal.
4. Human Relations:

Practicing various human resources policies and programmes like employment,


development and compensation and interaction among employees create a
sense of relationship between the individual worker and management, among
workers and trade unions and the management. It is a process of interaction
among human beings. Human relations is an rear of management in
integrating people into work situations in a away that motivates them to work
together productively co-operatively and with economic, psychological and
social satisfaction. It includes:

Understanding and applying the models of perception, personality, learning,


intra and inter personnel relations, intra and inter group relations.

Job satisfaction

Motivating the employees

Boosting employee morale

Developing communication skills

Employee motivation
Employee motivation
Introduction:

Motivation is one of the most important factors affecting human


behaviour and performance. This is the one of the reason why managers
attach great importance to motivation in organizational setting. Lipper has
called motivation has
the core of management. Effective directing leads to effectiveness, both at
organizational and individuals levels. This requires the understanding of
what individuals want from the organization. However, what individuals
want from the organization has not been fully identified.

Definition:

“motivation is the complex forces starting and keeping a person at


work in an organization . Motivation is something that moves the person
to action, and continues him in course of action already initiated”.

“Motivation refers to the way in which urges, drives, desires,


aspirations, strives, or needs direct control or explain the behaviour of
human beings”.

In order to understand the concept of motivation, we have to


examine three terms : motive, motivating and motivation and their
relationship.

Study:

The purpose of study is to identify the type of motivation most suited for
higher productivity and methods usually adopted for measuring
employee’s motivation.

To study the factors affecting the individual performance.


Motive: based on the Latin word mover, motive (need) has been defining
s follow;

“A motive is an inner state that energies, actives, or moves (hence


motivation), and that directs behaviour towards goals.
There is a difference between needs and wants. It is necessary to know
the difference

Between those two terms for every employee. Needs are more
comprehensive and include

Desires both physiological needs like social needs, recognition needs,


etc, which do not fall under wants.

Motivating:

Motivation is the term which implies that one person in the


organization context, a manager, induces anther, say employee to
engage in action (work behaviour) by ensuring that a channel to satisfy
the motive become available and accessible to the individual in
addition

To channel zing the strong motive in a direction that is satisfying t


both the organization and the employers the manger can also active the
latest motivation in individuals and harness them in a manner that
would be function for the organization.

Motivation:

While a motive is engineer of action motivation is the


canalization and activation of

Motives motivation is the work behaviour itself. Motivation depends


on motives and motivating therefore, it becomes a complex process.

Fig 1: relationship between motive, motivating and motivation

Motive Motivating Motivation

Activating needs and Engagement in work


Needs in

Providing need satisfaction


Nature of motivating:
Based on the definition of motivation, we can derive its nature relevant for
human behaviour in organization.
Following characteristics of motivation clarify its nature:

Based on motives:

Motivation is based on individual’s motives which are internal to the


individuals. These motives are in the form of feelings that the individual
lacks something. In order to overcome this feeling of laciness, the
employee tries to behave in a manner which helps in overcoming this
feeling.

Affected by motivating:

Motivation is affected by way the individual is motivated. The act of


motivating channelizes need satisfaction. Besides, it can also activate the
latent needs in the individual, that is, the needs that are less strong and
somewhat dormant, and harness them in a manner that would be
functional for the organization.

Goal-directed behaviour:

Motivation leads to goal directed behaviour. A goal-directed behaviour is


one which satisfies the causes for which behaviour take place. Motivation
has profound influence on human behaviour; in the organizational
requirements.

Related to satisfaction:

Motivation is related to satisfaction. Satisfaction refers to the contentment


experiences of an individual which he drives out of need fulfilment. Thus,
satisfaction is a consequence of rewards and punishments associated with
the past experiences. It provides means to analyze outcomes already
experienced by individual.

Persons motivated in totality:

A person is motivated in totality and not in part. Each individual in the


organization is a self-contained unit and his needs are interrelated. These
affect his behaviour in different ways. Moreover, feelings of needs and
their satisfaction is a continuous process. As such, these create continuity
in behaviour.
Complex process:
Motivation is a complex process; complexity emerges because of the
nature of needs and the type of behaviour that is attempted to satisfy those
needs.

These generate complexity in motivation process in the following ways.


(1) Needs are internal feelings of individuals and sometimes even they,

They may not be quite aware about their needs and the priority of
these. Thus,

Understanding of human needs and providing means for their satisfaction


Becomes difficult.

(2) even if needs are identified, the problem is not over here as a
particular need may result into different behaviours from different
behaviours from different result into different behaviours from different
need ma individuals because of their differences. For example, the need
for promotion may be uniform for different individuals may no engage in
similar type of behaviour; they may adopt different routes to satisfy their
promotion needs.

3) a particular behaviour may emerge not only because of the specific


need but it may be because of a variety of needs. For example, hard work
in the organization may be due to the need for earning more money to
satisfy psychological needs, or may to enjoy the performance of work
itself and money becomes secondary, or to get recognition as a hard-
working person.

4) Goal directed behaviour may lead to goal attainment. There may be


many cons buses in situation which may restring the goal attainment of
goal directed behaviour. This may lead to frustration in an individual
creating lot of problems.

Type of needs

There are many types of needs which an individual may have and there
are various ways in which these may be classified. The basic objective
behind classification of needs into categories is to find out similarly and
dissimilarly in various needs so that incentives are grouped to satisfy the
needs falling under one category or the other. Needs may be natural,
biological phenomenon in an individual, or these may over the period of
time through learning.
Thus, needs may be grouped into three categories:
1) Primary needs

2) Secondary needs
3) General needs

Primary needs:

Primary needs are also known as physiological, biological, basic, or


unlearned needs. Primary needs are animal drives which are essential for
survival. These needs are common to all human beings, though their
intensity may differ.

Secondary needs:

These needs are learned by the individual through his experience and
interaction. Therefore these are called derived or learned needs.
Emergence of these depends on learning. These may be different types of
secondary needs for power, achievement, status affiliation, etc.

General types:

Though a separate classification of general needs is not always


given, such a category seems necessary because there are of needs which
lie in the grey area between the primary and secondary needs. Such needs
are like need for competence, curiosity, manipulation, affection, etc
Motivation and behaviour:

Motivation causes goal- directed behaviour. Felling of a need by an


individual generates a feeling that he lacks something. This lack of
something creates tension in the in of the individual. Since the tension is
not an ideal state of mind, the individual tries to overcome this by
engaging himself in an behaviour through which he satisfies his needs.
Goal – directed behaviour leads to goal fulfilment and the individual
succeeds in fulfilling his needs and there by overcoming his tension in the
favourable environment. Satisfaction is one need leads to feeling of
another need, either same need after the lapse of certain time or different
need and goal – directed behaviour goes on. Thus, goal – directed
behaviour is a continuous process.

Aggression:

A more common reaction to frustration is aggression, an act against


someone or something. An employee being denied a promotion may
become aggressive and verbally berate his supervisor.

Motivation and performance

Motivation is necessary for work performance because if people do not


feel inclined to engage themselves in work behaviour, they will not put in
necessary efforts to perform well. However, performance of an individual
in the organization depends on a variety of factors besides motivation.
Therefore, it is desirable to identify various factors which affect individual
performance and the role that motivation plays.

Factors affecting individual performance:


Observations show that (1) various individual perform differently
in the same work situations, and (2) the same individual performs
differently in different work situations. These statements suggest
that various factors which affect an individual’s performance are
broadly of two types, individual and with in each type there may be
several factors.
We can derive form figure that individual performance depends on the
following factors:

Motivation of individual,
His since of competence,

His ability,
His role perception, and

Organizational resources

Motivation

Role
Ability
Perception

Performance Reward

Sense of
Organizational
Competence
Resources

Fig : factors affecting individual performance


If any of the elements is taken away, performance will be affected adversely. The
double- headed arrow between motivation and sense of competence that the two
variables mutually influence each other. Reward, as a result of individual’s
performance affects his level of motivation. If the reward is perceived to be of valence
and equitable, it energizes the individual for still better performance and this process
goes on.
Motivation:

Level of motivation drives an individual for work. Motivation is based


on motive which is a feeling that an individual lacks some things. This
feeling creates some sort of tension in his mind. In order to overcome this
tension, he engages in goal –directed behaviour that is taking those actions
trough which his needs are satisfied. Thus, motivation becomes a prime
mover for efforts and better work performance.

Sense of competence:

To sense of competence denotes the extent to which an individual


consistently regards himself as capable of doing a job. Sense of
competence of an individual depends to a very great extent on his locus of
control. Locus of control means whether people believe that they are in
control of events or events control them. Those who have internal locus of
control believe that they can control and shape the course of events in their
lives; those who have external locus of control tend to believe occur
purely by chance or because of factors beyond their own control. An
individual with internal locus of control tends be high performer than
those with external locus of control. However, this sense of competence is
not an independent factor but depends on the ability of the individual.

Ability

While sense of competence is type of perception about oneself, ability is


his personal attributes relevant for doing a job. Often, ability is expressed
in the following way or equation

Knowledge refers to the position of information and ideas in a particular


field which may be helpful in developing relationships among different
variables related to that field. Skill refers to expertness, practical ability or
facility in an action or doing something. Thus, if the individual has ability
relevant to his job, his performance tends to be higher than those who do
not posses such ability.

Ability=knowledge* skill
Role perception:

A role is the pattern of actions expected of a person in activities


involving others. Role reflects a person’s position in the social system
with its accompanying rights and obligations. In an organization, activities
of an individual are guided by his role perception that is, how he thinks he
is supposed to act in his own role is clear, the individual tends to perform
well. There are two types of problems which emerge in role specification,
role ambiguity and role conflict role ambiguity denotes the state in which
the individual is not clear what is expected from him in the job situation.
Role conflict is the situation in which the individual engages in two or
more roles simultaneously and these roles are mutually incompatible. In
both these situations, his performance is likely to be affected adversely.

Organizational resources:

Organizational resources denote various types of facilities ---physical and


psychological ---which are available at the work place. Physical facilities
include appropriate layout of the work place and conductive physical
environment. Psychological facilities include appropriate reward system,
training development facilities, harmonious workshop appropriate and
motivating leadership styles, motivating work, and do on. These
organizational resources work in two ways in increasing individual
performance. First, they facilitate job performance. Second they work as
motivating factors which enhance individual enthusiasm to perform well.

Role of motivation:

Motivation is one among the various factors affecting individual


performance. However, it is one of the most important factors. All
organizational facilities will go waste in the lack of motivated people to
utilize these facilities effectively. Every superior in the organization must
motivate his subordinates for the right types of behaviour. Diagnosing
human behaviour and analyzing as to why people behave in a particular
way is of prime importance in motivating them irrespective of the
organization because individual is the basic component of any
organization.

The importance of motivation in an organization may be summed up as


follows:

High performance level:

Motivated employees put together performance as compared to other


employees. In a study it was found that motivated employees worked at
close 80-90 percent of their ability. The further suggested that hourly
employees could maintain their jobs, if they were not fired, by working
approximately 20to30 percent of their ability. The high performance is a
must for an organization being successful and this performance comes by
motivation.

Low employee turnover and absenteeism

Motivated employees stay in the organization and their absenteeism is


quite low. High turnover and absenteeism create many problems in the
organization. Recruiting, training and developing large number of new
personnel into a working team take years. In a competitive economy, this
is almost an impossible task. Moreover, this also effects the reputation of
the organization unfavourably

Acceptance of organizational changes:

Organizations are created in the society. Beca use of changes in the


society changes in technology, value system etc, and organization has to
incorporate those things to cope up with the requirement of the time.
When these changes are introduced in the organization, there is a tendency
to a resist these changes by the employees. However if they are properly
motivated, they accept, introduce and implement t hese changes keeping
the organization on the right track of progress.
Empowerment

Empowerment is the process of enabling or authorizing an


individual to think, behaves, take action, and control work and decision
making in autonomous ways. It is the state of feeling self-empowered to
take control of one’s own destiny. Empowerment rules as a development
strategy.

Along with motivation job design, empowerment is also used as a


technique for motivation. Most of work organizations have a number of
employees who believe that they are dependent on others and their own
efforts have little impact on the performance. Sense of this powerless
creates frustration in employees and they start developing feeling that they
cannot perform success fully or make meaningful contributions. In order
to overcome this feeling of employees and involving them in their jobs,
the idea of empowerment has been introduced. The basic those of
empowerment have emerged from the proponents of total quality
management (TQM) which has gained acceptance throughout the world.

In Webster’s dictionary, the verb empowers means to give the


means, ability of authority”. Thus, empowerment in work setting involves
giving employees the means, ability and authority to do something.

Newsroom and Davis have defined empowerment as follows

“Empowerment is any process that provides greater autonomy


through the sharing of relevant information and the provision of control
over factors affecting job performance.”

“Empowerment helps remove the conditions that cause


powerlessness while enhancing employee feeling of self-efficacy.”
There are five approaches which have been suggested for empowerment:
Helping employees achieve job mastery – giving training, coaching, and
guided experience that are required for initial success.

Allowing more control – giving employees descry travel section over job
performance and making them accountable for the performance outcomes.
Using social reinforcement and persuasion – giving praise,
encouragement, and verbal feedback to raise confidence.

Giving emotional support – reduction of stress and anxiety through better


role present travel section, task assistance, and personal care.

When managers use these approaches, employees develop a feeling


that their jobs are important and they contribute meaningfully for the
achievement o f organizational effectiveness.

This feeling contributes positively to the use of skills and talents in job
performance as shown in figure:

Empowerment Perception of Better

Job mastery Empowerment Performance

More self-control

Fig : empowerment and its effect

Top 10 principles of employee empowerment:

These are the most important principles for people in a way that reinforces
employee empowerment, accomplishment, and contribution. These
management actions enable both the people who work with you and the
people who report to you to soar.

1. Demonstrate, you value people

Your regard for people shines through in all of your actions and words.
Your facial expression, your body language, and your words express what
you are thinking about the people who report to you. Your goal is to
demonstrate your appreciation for each person’s unique value. No matter
how an employee is performing on their current task, your value for the
employee as a human being should never falter and always be visible.
2. Share leadership vision

Help people feet that they are part of something bigger than themselves
and their individual job. Do this by making sure they know and have
access to the organization’s overall mission, vision, and strategic plan.

3. Share goals and direction

Share the most important goals and direction for your group. Where
possible, either make progress on goals measurable and observable, or
ascertain that you have shared your pictures of a positive outcome with
the people responsible for accomplishing the results.

4. Trust people

Trust the intention of people to do the right thing, make the right
decision, and make choices that, while may be not exactly what you
would decide, still work.

5. Provide information for decision making

Make certain that you have give people, or made sure that they have
access to, all of the information they need to make thoughtful decisions.

6. Delegate authority and impact opportunities, not just more work

Doesn’t just delegate the drudge work; delegate some of the fun stuff, too.
You know, delegate the important meetings, the committee memberships
that influence product development and decision making, and the projects
that people and customers notice. The employee will grow and develop
new skills. Your plate will be less full so you can concentrate on
contribution. Your reporting staff will gratefully shine-and so will you.

7. Provide frequent feedback

Provide frequent feedback so that people know how they are doing.
Sometimes, the purpose of feedback is reward and recognition. People
deserve your constructive feedback, too, so they can continue to develop
their knowledge and skills.
8. Solve problems: don’t pinpoint problem people

When a problem occurs, ask what is wrong with the work system that
caused the people to fail, not what is wrong with the people. Worst case
response to problems? Seek to identify and punish the guilty.

9. Listen to learn and ask questions to provide guidance

Provide a space in which people will communicate by listening to them


and asking them questions. Guide by asking questions, not by telling
grown up people what to do. People what to do. People generally know
the right answers if they have the opportunity to produce them. When an
employee brings you a problem to solve, ask, “what do you think you
should do you should do to solve this problem?”

Or, ask, “what action steps do you recommend?” Employees can


demonstrate what they know and grow in the process.

10. Help employees feel rewarded and recognized for empowered


behaviour

When employees feel under-compensated, under-titled for the


responsibilities they take on, under- noticed, under-praised, and under –
appreciated, don’t expect results from employee empowerment. The basic
needs of employees must feel met for employee’s empowerment.
INDUSTRY PROFILE

Bajaj Allianz General Insurance is a private general insurance company in


India. The company is a joint venture between Bajaj Finserv Limited (formerly
part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE,
a
German financial services company.

History
Bajaj Allianz General Insurance received an Insurance Regulatory and
Development Authority of India (IRDAI) certificate of registration on 2 May
2001 to conduct general insurance business, including health insurance, in
India. In the first year of its operations the company had 36 offices and around
100 employees. The company started its operations with a paid up capital of
₹1.10 billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held
by Allianz SE. Bajaj Allianz is headquartered in Pune with offices in over 200
cities in India and more than 3,500 employees as of 2018
The Company lists 97 filed and approved products, of which 27 are health
products.
In January 2014, the company announced it would open up all-women
branches. As of 2015, the company has 30 such branches in India
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 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
insurance business including health insurance.
Awards and Recognition:
"Best Insurance Company in private sector" at the IPE Banking Financial
Services and Insurance (BFSI) 2013.

Organization of the Year by SKOCH Financial Inclusion Award 2013

Stock Financial Inclusion Award 2012 for contribution towards financial


inclusion through life insurance

Bajaj Allianz Life Insurance has been rated amongst the 50 top service
brands and ranked as Third Best Life Insurer, as per a survey conducted on
'Most Trusted Companies' by Brand Equity and AC Nielsen-ORG Mar
2012.

Best Contribution in Investor Education & Category Enhancement by


Bloomberg UTV Financial Leadership Awards 2011

The Best Utilization of Information Technology to Transform Businessۥ


by Bloomberg UTV CXO Awards 2011-Technology Chapter.

Products & Services


Term Insurance

Savings Solutions
Investment Solutions

Retirement Solutions
ULIP

Group Insurance
NRI Corner
The Bajaj Allianz “child gain” Plan :
Taking care of a child is perhaps the most important job a parent can have. It is
but natural that you would like to give your child your best. And therefore, this
is the time when careful financial planning can help you fulfill the aspiration
that you have for your children. The Bajaj Allianz child gain solutions help you
to enjoy the joys of parenthood responsibly, with the reassurance of a secure
future for your child.

What does Bajaj Allianz “child gain” plan offer you?

Bajaj Allianz child offers a wide array of solutions that allows you to plan for
your child’s future by providing you with as many as 4 distinct and unique
options.
Option 1: child gain 21

Option 2: child gain 24


Option 3: child gain 21 plus

Option 4: child gain 24 plus

The Bajaj Allianz new unit gain plan :


Bajaj Allianz New unit gain comes with a host of features that allows you to
have the best of both worlds – protection and investment , with flexibility like
never before.

Key features of this plan are :


Guaranteed death benefit.

Choice of investment funds with flexible investment management; you can


change funds at any time.

Providing for full/partial withdraws any times after three years, provided three
full years’ premiums are paid.
Unmatched flexibility – to match your changing needs .

Maturity benefit equal to the fund value payable on the date of maturity.
The “Bajaj Allianz new unit gain plus” plan:

The Bajaj Allianz new unit gain plus plan comes with a host of features that
allows you to

Have the best of both worlds – protection and investment with flexibility like
never before.
Some of the key feature of this plan are :
Guaranteed death benefit

Choice of 5 investment funds with flexible investment management: you can


change
Funds at any time.
Attractive investment alternative to fixed – interest securities.

Choice of investment funds with flexible investment management: you can


change
Funds at any time.

Attractive investment alternative to fixed – interest securities


Provision for full/partial withdrawal any time after three years from
commenced

of the policy provided three full years’ premiums are paid.


Unmatched flexibility to match your changing needs.

Maturity benefit equal to the fund value payable on date of maturity.


How does Bajaj Allianz Cash Gain?

This plan pays out a guaranteed amount on survival at the end of every 1/5th of
the Policy term selected. A total of 75% of the sum assured is paid out in the
first 4 cash benefits.

On maturity, 50% of the sum assured is paid along with accrued bonuses.
Hence the total

Cash/survival benefit distributed under this plan comes to more than 100% 0f
the sum assured

– in fact 125% of the sum assured.

1st Cash Benefit 15% of Sum Assured


2nd Cash Benefit 25% of Sum Assured
3rd Cash Benefit 25% of Sum Assured
4th Cash Benefit 25% of Sum Assured
On maturity 50% of sum Assured + accrued bonuses.

The benefits will further increases by way of accrued bonuses that are
distributed at maturity or on death, if earlier. In case of maturity or death after
15 full policy years,
the company may Pay an additional terminal bonus for in – force policies.

The “Bajaj Allianz Invest Gain” plan :


Bajaj Allianz Invest Gain is a specially designed pla n that offers unique
combinations of benefits to help you develop a sound financial portfolio for
your family. Among the many unique benefits, the most significant is the family
income benefit (FIB) that sustains the Family by compensating the loss of
income due to death or permanent disability. This is one – stop shop solution
that can keep you and you family financially protected at times when you need
it most. In a financial world where choices can drive you crazy, your search for
the perfect life insurance plan stops here.

Bajaj Allianz Life aims high

Sam Ghosh, CEO, Bajaj Life Insurance Company Limited, who took over this
January, outlines his aggressive growth strategy. Venkatachari Jagannathan
reports..

Bajaj Life Insurance Company Limited — a 74:26 joint venture between Bajaj
Auto Limited and Allianz AG, Germany (formerly Allianz Bajaj Life Insurance
Company Limited) — under a new team headed by Sam Ghosh, CEO, has taken
the competition head-on, leaving industry watchers surprised at its rapid pace of
growth.

Ghosh himself is a newcomer to the company, earlier having steered the Rs480
crore-Bajaj Allianz General Insurance Company to the second position in the
Indian private sector insurance sector.

In a span of just eight months, Bajaj Allianz Life (premium income Rs220
crore) has jumped three paces to occupy the fourth slot in the 13-strong life
insurance industry.

Today the company is in the midst of pursuing its twin corporate 'dream' goals
— to close this fiscal with a premium income of Rs750 crore and occupy the
number three slot displacing the incumbent Birla Sun Life Insurance Company
Limited.

Given the daily collections — over Rs1 crore — and its month-on- month
growth, the second may come true sooner.

According to the Insurance Regulatory and Development Authority (IRDA)


figures, the new premium difference between Bajaj Allianz Life and Birla Sun
Life at the end of August 2004 was Rs37.5 crore. Rival Birla Sun Life has taken
the threat seriously.
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.

DEFINITION:-

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”

OBJECTIVES OF THE STUDY:

To study the role of employee empowerment after motivation.


To identify how employee motivation is related to performance.

To measure the consequences of pre and post employee motivation.


To calculate the level of motivation.

To study the impact of authorized motivation on productivity.


To measure employee satisfaction towards working environment.

NEED FOR THE STUDY

The purpose of the study is to identify the level of motivation among the
working
 group in Bajaj Allianz Life insurance.
To know the working environment, supervisors relationship, family
relationship and individual perception about the company in relation to
motivation.

The study can reveal the psychological and economic factors associated
with
motivation and also can bring forth the interrelated factors for motivation.

The study would be helpful in giving suggestions to apply the motivation


methods.
SCOPE OF THE STUDY:

The human resources management has to identify employee’s motivation to


match with the organization’s productivity.

The motivation of each employee will lead to the better performance


and in turn satisfies both the employees and also organization.

As employee motivation is important for the organization to achieve the desired


goals on time, therefore the employees must be motivated by using various
techniques.
.
RESEARCH DESIGN:

3.3 Meaning:
Research is an endeavour to discover answers to intellectual and
practical problems through the application of scientific method.
“Research is a systematized effort to gain new knowledge”. -Redman
and Mory. Research is the systematic process of collecting and analyzing
information (data) in order to increase our understanding of the
phenomenon about which we are concerned or interested.
3.3.1 Research Design:
A research design is considered as the framework or plan for a
study that guides as well as the data collection and analysis of data. The
research design maybe exploratory helps, descriptive and experimental
for the present study. The descriptive research design is adopted for this
project.

3.3.2 Research Approach:


The researcher worker contacted the respondents personally with
well- prepared sequentially arranged questions. The questionnaire is
prepared on the basis of objectives of the study. Direct contract is used
for survey, i.e., contacting employees directly in order to collect data.

3.3.3 Objectives of Research:


The purpose of research is to discover answers through the
application of scientific procedures. The objectives are:
 To gain familiarity with a phenomenon or to achieve new insights
into it – Exploratory or Formulative Research.

 To portray accurately the characteristics of a particular individual,
situation or a group – Descriptive Research.

 To determine the frequency with which something occurs or with
which it is associated with something else – Diagnostic Research.
To test a hypothesis of a causal relationship between variables –
Hypothesis-Testing Research.
3.3.4 Characteristics of Research:

 Research is directed towards the solution of a problem. It is based


upon observable experience or empirical evidence.

 Research demands accurate observation and description. Research
involves gathering new data from primary sources or using existing
data for a new purpose.

 Research activities are characterized by carefully designed
procedures.
Research requires expertise i.e., skill necessary to carryout
investigation, search the related literature and to understand and
analyze the data gathered.
 Research is objective and logical – applying every possible test to
validate the data collected and conclusions reached. Research
involves the quest for answers to unsolved problems. Research
requires courage.

 Research is characterized by patient and unhurried ac tivity.
Research is carefully recorded and reported
3.3.5 Steps in conducting research:
Research is often conducted using the hourglass model structure of research.
The hourglass model starts with a broad spectrum for research, focusing in on the
required information through the method of the project (like the neck of the
hourglass), then expands the research in the form of discussion and results.
The major steps in conducting research are:
 Identification of research problem

 Literature review

 Specifying the purpose of research
 Determine specific research questions or hypotheses
 Data collection

 Analyzing and interpreting the data

 Reporting and evaluating research

 Communicating the research findings and, possibly, recommendations
3.3.6 RESEARCH INSTRUMENTS:

1. Personal Interviews : Schedules were administered personally for

Collecting the data.

2. Questionnaire : structured Questionnaire

3. Research method : convenience sampling method

4. Sample size : 100 employees

3.4 SOURCE OF DATA:

1. PRIMARY DATA:
The primary data was collected from employees through structural
questions and personal interviews with the employees who have attended
the training programmes.

2. SECONDARY DATA:
Secondary data include both quantitative and qualitative data, and
they can be used in both descriptive and explanatory research. The data you
use may be raw data, where there has been little if any processing, or
compiled data that have received some from of selection or summarizing
within business and business and management research such data are used
mostly in case study and survey-type research.
LIMITATIONS


Accuracy of the report is completely dependant of the employee’s
respondents.
 

 
An in depth study couldn’t be conducted because of the limited


time

period.


The respondents were not always open and forthcoming, with their

views,

agitates and not disclosing.


The changes of biased responses cannot be eliminated through all
steps were taken to avoid the same.
Data Analysis and Interpretation
4.1. Years of experience.

TABLE:4.1

S.NO FACTORS Total %


1 0-5 years 36 36
2 6-10 years 28 28
3 11-15 years 20 20
4 >15 years 16 16
TOTAL 100 100

GRAPH:4.1

Interpretation:
From the graph shows that 36% of respondents says that they have an

0-5 years Experience in that organisation, 28%of respondents says that

they have an6-10 Years of experience in the organisation,20% of

respondents says that they have an 11-15 years experience in their

organisation.
4.2. Following are the list of motivational factors.
TABLE:4.2

FACTORS Total Percentage (%)


Job security 32 32

Promotion 16 16

Career Development 28 28
Welfare measures 24 24

TOTAL 100 100

GRAPH:4.2

Interpretation:
From the above graph shows that 32% of respondents feels that they have
an job

Security in that organisation,28% of respondents feels that the


organisation has

To be providing the good career opportunity from then 24% of

respondents feels That they have an availability of welfare facilities

in that organisation 16% of Respondents feels that they have an good

promotion opportunity will be provided By the organisation from

them.
4.3. Employees at work place.

TABLE:4.3

S.NO FACTORS Total %


1 Highly satisfied 36 36
2 Satisfied 28 28
3 Average 14 14
4 Dis satisfied 22 22
TOTAL 100 100

GRAPH:4.3

Interpretation:
From the above graph 36% of respondents says that they an highly
satisfied in their work place,28% of respondents says that they have an
satisfied in their work place ,22% of respondents says that they have not
satisfied in their work place.
4.4 Effectiveness of employee participation in decision making.
TABLE:4.4

S.NO FACTORS Total %


1 Highly satisfied 22 22
2 Satisfied 14 14
3 Average 28 28
4 Dis satisfied 36 36
TOTAL 100 100

GRAPH:4.4

Interpretation:
From the above graph 36% of respondents are dis satisfied the
participation of decision making in their organisation,28% of respondents
are average,22% of respondents are highly satisfied the participation of
decision making in their organisation,14% of respondents are satisfied .
4.5 Role of hr in the organization
.

TABLE:4.5

S.NO FACTORS Total %


1 Highly satisfied 32 32
2 Satisfied 40 40
3 Average 16 16
4 Dis satisfied 12 12
TOTAL 100 100

GRAPH:4.5

Interpretation:
From the above graph 40% of respondents says that they are satisfied the
HR place
And important role in their organisation, 32% of respondents says that
they are

Highly satisfied.
4.6 List of approaches to motivate
TABLE:4.6

FACTORS TOTAL PERCENTAGE (%)

AWARDS 36 36

REWARDS 28 28

RECOGNITION 14 14

PROMOTIONAL CHANNELS 22 22

TOTAL 100 100

GRAPH:4.6

Interpretation:
From the above graph 36% of respondents are satisfied that the
organisation has to be identify the performance of an employee by
providing the awards,28%of respondents are in that organisation has to be
identify the performance of an employee by providing there awards.
4.7 Motivational challenges of employee.
TABLE:4.7

FACTORS Total Percentage

Personal issues 10 10

Educational back ground 22 22

Competition among trade unions 46 46

Reluctance again administration 10 10

Bias in management decisions 12 12

TOTAL 100 100

GRAPH:.4.7

Interpretation:
From the above graph 46% of respondents are competition among the
trade unions will give the challenge of employee motivation, 22% of
respondents are educational back ground, 12%of respondents are bias in
management decisions
4.8 Obstacles in employee performance
TABLE:4.8

FACTORS Total Percentage (%)

Stagnation, lethargy, growth 10 10


prospects

Lack of motivation and recognition 24 24

Decision taken by top authorities 48 48

Miscellaneous 18 18

TOTAL 100 100

GRAPH:4.8

Interpretation:
From the above graph 48% of respondents that centralisation process
highly involved
in the employee performance,24% of respondents lack of motivation and
recognition,18% of respondents are miscellaneous.
4.9 Employee awareness of motivation and empowerment.

TABLE:4.9

Response/category Total Percentage(%)

Yes 62 62

Very little 28 28

No knowledge 10 10

TOTAL 100 100

GRAPH:4.9

Interpretation:
From the above graph 62% of respondents are agreed that they have an
awareness of motivation and empowerment taken place in their
organisation
4.10 Employee recognition from superior.
TABLE:4.10

S.NO FACTORS Total %


1 Highly satisfied 32 32
2 Satisfied 40 40
3 Average 16 16
4 Dis satisfied 12 12
TOTAL 100 100

GRAPH:4.10

Interpretation:
From the above graph 40% of respondents are satisfied the superior has to
be recognised their performance in the organisation,32% of respondents
are highly satisfied.
4.11 Job satisfaction of employee.
TABLE:4.11

S.NO FACTORS Total %


1 Highly satisfied 32 32
2 Satisfied 40 40
3 Average 16 16
4 Dis satisfied 12 12
TOTAL 100 100

GRAPH:4.11

Interpretation:
.From the above graph 40%of employees are satisfied the organisation has
to be providing the good peaceful environment situation from them,32%
of employees are highly satisfied.
4.12 Employees need to be remind that their jobs are
dependent on thecompany’s ability to compete effectively
TABLE:4.12

FACTORS No, OF RESPONDENTS PERCENTAGES (%)

Strongly agree 76 76

Agree 10 10

Disagree 8 8

Strongly disagree 6 6

Total 100 100

GRAPH:4.12

Interpretation:
From the above graph 76% of respondents are strongly agreed that
employees need

To be remind that their jobs are dependent on the company ability to


compete effectively.
4.13 Supervisors should give a good deal of attention of the
physical workingconditions of their employees
TABLE:4.13

FACTORS No, OF RESPONDENTS PERCENTAGES (%)

Strongly agree 40 40

Agree 24 24

Disagree 20 20

Strongly disagree 16 16

Total 100 100

GRAPH:4.13

Interpretation:
From the above graph 40% of respondents are strongly agreed that the
superiors are directly involved in the physical working conditions of their
employees,24% of respondents are agree,20% of respondents are dis
agree,16% are strongly dis agree.
4.14 Special wage hike should be given to employees who
perform their jobs very well
TABLE:4.14

FACTORS NO,OF RESPONDENTS PERCENTAGES (%)

Strongly agree 90 90

Agree 6 6

Disagree 4 4

Strongly disagree 0 0

Total 100 100

GRAPH:4.14

Interpretation:
From the above graph 90% of respondents are strongly agreed that the
organisation has to be identify the employee performance by providing the
special wage hikes, 6% of
Respondents are agree, and 4% of the respondents are not agree.
4.15 How is an individual recognition for attaining standard
performance in your organisation?
TABLE:4.15

FACTORS NO, OF RESPONDENTS PERCENTAGES (%)

Strongly agree 50 50

Agree 33 33

Disagree 4 4

Strongly disagree 13 13

Total 100 100

GRAPH:4.15

Interpretation:
From the above graph 50% of respondents are strongly agree ,33% of the
respondents are agree and it is an individual recognition for attaining
standard performance in your organisation.

.
4.16 The company retirement benefits and stock programs
are important factors on their jobs:
TABLE:4.16

FACTORS NO,OF RESPONDENTS PERCENTAGES (%)

Strongly agree 60 60

Agree 19 19

Disagree 10 10

Strongly disagree 11 11

Total 100 100

GRAPH:4.16

Interpretation ,
From the above graph 60% of the respondents are strongly agreed that the

organisation Has to be provided the retirement benefits and stock

program from them.


4.17 Almost every job can be made most stimulating and
challenging
TABLE:4.17

FACTORS NO,OF RESPONDENTS PERCENTAGES (%)

Strongly agree 50 50

Agree 40 40

Disagree 4 4

Strongly disagree 6 6

Total 100 100

GRAPH:4.17

Interpretation:
From the above graph 50% of the respondents are strongly agreed that
every job in the organisation can be most stimulate and challenge them,
40% of the respondents are agree.4% of the respondents are not agree.
4.18 Management could show more than interest in the
employees by sponsoring social events after hours
TABLE:4.18

FACTORS NO,OF RESPONDENTS PERCENTAGES (%)

Strongly agree 30 30

Agree 40 40

Disagree 22 22

Strongly disagree 8 8

Total 100 100

GRAPH:4.18

Interpretation:
From the above graph 40% of the respondents are agreed that the
organisation has to be create the interest of employees by sponsoring
social events after hours.
4.19 If your job includes interacting with customers, how it
will affect the following
TABLE:4.19

FACTORS NO, OF RESPONDENTS PERCENTAGES (%)

WILL INCREASE 54 54

WILL DECREASE 40 40

WILL HAVE NO EFFECT 6 6

Total 100 100

GRAPH:4.19

Interpretation:
From the above graph 54% of the respondents are agreed they have an
good interest interacting with the customers.
FINDINGS


Job security is the highest motivation factor than any other.



The perception of the employee is high towards the aim of the
organization i.e. Transportation


 There is high involvement of the employee in the organization.


 There is low participation of employees in decision making.


There is equal participation in work.

Awards and rewards are the high rated approaches that which
motivates employees.

Lack of motivation and recognition, decision taken by top 
authorities are obstacles that stop employees performing to the best.

Employee’s awareness of motivation and empowerment is very
low.

SUGGESTIONS:

Employees should be identified by their better performance and


should give some type of incentives, promotions etc. So that
employee will be boosted up and will work better.
Promotions should be given to the basis of performance only.

The Management creates a challenging work (or) new assignment


(or) opportunity to develop the innovative idea of employee.

The motivation review discussion should be practiced well to


encourage the open communication between both the appraiser and
appraise.

The management should study motivation theories for better


motivation.
CONCLUSION

According to the study I concluded that the employees are satisfied


in their organization, Motivation plays an important role in a company
when it comes to performance. Every employee is different and what
works for one might not for the other one. Importance of recognizing
different type of managers and workers in order to effectively motivate
them. Emloyees are much more sensitive to their relationship with their
managers and the atmosphere surrounding the company rather than
materialistic goods.
Questionnaire for the employee motivation measure at bajaj
Allianz
Name:
Gender:
Designation:
Department:
1. Years of experience ( )

A) 0-5 years b) 6-10 years

c) 11-15 years d) >15 years

2. Following are the list of motivational factors ( )

a) Job security b) promotion

c) Career development d) welfare measures

3. Employee at work place ( )

a) Highly satisfied b) satisfied

c) Average d) dis satisfied

4. Effectiveness of employee participation in decision making ( )

a) Highly satisfied b) satisfied

c) Average d)dis satisfied

5. Role of HR in their organisation ( )

a) Highly satisfied b) satisfied

c) Average d) dis satisfied


6. List of approaches to motivate
( )
a) Awards b) rewards

c) Recognition d) promotional channels

7. Motivational challenges of employee ( )

a) Personal issues b) educational background

c) Competition among trade unions

d) Reluctance against administration

e) Bias in management decisions

8. Obstacles in employee performance ( )

a)stagnation ,lethargy ,growth prospects

b) Lack of motivation and recognition

c) Decision taken by top authority

d) Miscellaneous

9. Employee awareness of motivational and empowerment ( )

A) yes b)very little c)no knowledge

10. Employee recognition from superior ( )

a) Highly satisfied b) satisfied

c) Average d) dis satisfied

11. Job satisfaction of employees ( )

a) Highly satisfied b) satisfied

c) Average d) dis satisfied


12. Employee need to be remind that their jobs are dependent on the company ability

To complete effectiveness ( )

a) Strongly agree b) agree

c) Dis agrees d) strongly dis agrees

13. Supervisors should give a good deal of attention of the physical working conditions

Of their employees ( )

a) Strongly agree b) agree

c) Dis agree d) strongly dis agree

14. Special wage hike should be given to employee who perform their jobs

Very well ( )

a) Strongly agree b) agree

c) Dis agree d) strongly disagree

15.How is an individual recognition for attaining standard performance in

Your organisation ( )

a) Strongly agree b) agree

c) Dis agree d) strongly dis agree

16. The company retirement benefits and stock programs and important

Factors on their jobs ( )

a) Strongly agree b) agree

c) Dis agree d) strongly dis agree


17. Almost every job can be made most stimulating and challenging ( )

a) Strongly agree b) agree

c) Dis agree d) strongly dis agree

18. Management could show more than interest in the employees by sponsoring

Social events after hours ( )

a) Strongly agree b) agree

c) Dis agree d) strongly dis agree


BIBLIOGRAPHY
SL. BOOKS AUTHOR EDITION PUBLICATIONS
NO NAME

1 Human Himalaya publishing


rd
resource P.SUBBA RAO 3 Edition house
management &
industrial
management
2 Human GARY DESSLER Pearson/ prentice hall
th
resource 10
management Edition
3 Tmh
rd
Human K.ASWATHAPPA 3 Edition
resource
management &
personal
management
4 Research New age International (p)
nd
methodology KOTHARI 2 Edition Ltd.
NEW DELHI

WEB SITES
www.bajaj allianz.com

www.hr.com

www.wikipedia.com

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