INTRODUCTION TO THE

COMPANY

HISTORY

Reliance Capital Limited announced the launch of its life insurance business on

February 1 2006 This was after obtaining the required regulatory approvals from

the Registrar Of Companies and the Insurance Regulatory and Development

Authority

It was in August 2005 that the ball was set rolling when Reliance Capital Limited

the financial arm of Reliance ndash Anil DhirubhaiAmbaniGroup (ADAG) ndash

announced the requisition of 100 shareholding in AMP Sanmar Life Insurance

Company Limited and the formal transfer of shares took place in October 2005

The company will issue all policy contracts under the Reliance Life Insurance

Company limited name

All the existing policy contracts also stand transferred to the Reliance Life

Insurance entity with all

the original contractual terms and commitments intact

bull Under Dhirubhairsquos extraordinary vision and leadershipReliance scripted one of

the greatest growth stories incorporate history anywhere in the world and went on

tobecome Indiarsquos largest private sector enterprise

bull Through out this amazing journey Dhirubhai alwayskept the interests of the

ordinary shareholderuppermost in mind in the process making millionairesout of

many of the initial investors in the Reliance stockand creating one of the worldrsquos

largest shareholderfamilies

FOUNDER

Few men in history have made as dramatic a contributionto their countryrsquos

economic fortunes as did the founder ofReliance Sh Dhirubhai H Ambani Fewer

still have leftbehind a legacy that is more enduring and timeless

bull As with all great pioneers there is more than oneunique way of describing the

true genius of DhirubhaiThe corporate visionary the unmatched strategist the

proud patriot the leader of men the architect of Indiarsquos capital markets the

champion of shareholder interest

bull But the role Dhirubhai cherished most was perhaps thatof Indiarsquos greatest wealth

creator In one lifetime hebuilt starting from the proverbial scratch Indiarsquos

largestprivate sector enterprise

bull When Dhirubhai embarked on his first business venturehe had a seed capital of

barely US$ 300 (around Rs14000) Over the next three and a half decades

heconverted this fledgling enterprise into aRs 60000crore colossusmdashan

achievement which earned Reliancea place on the global Fortune 500 list the first

everIndian private company to do so

bull Dhirubhai is widely regarded as the father of Indiarsquos capital markets In 1977

when Reliance Textile Industries Limited first went public the Indian stockmarket

was a place patronised by a small club of elite investors which dabbled in a handful

of stocks

bull Undaunted Dhirubhai managed to convince a largenumber of first-time retail

investors to participate in theunfolding Reliance story and put their hard-

earnedmoney in the Reliance Textile IPO promising them inexchange for their

trust substantial return on theirinvestments It was to be the start of one of

greatstories of mutual respect and reciprocal gain in theIndian markets

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

HISTORY

Reliance Capital Limited announced the launch of its life insurance business on

February 1 2006 This was after obtaining the required regulatory approvals from

the Registrar Of Companies and the Insurance Regulatory and Development

Authority

It was in August 2005 that the ball was set rolling when Reliance Capital Limited

the financial arm of Reliance ndash Anil DhirubhaiAmbaniGroup (ADAG) ndash

announced the requisition of 100 shareholding in AMP Sanmar Life Insurance

Company Limited and the formal transfer of shares took place in October 2005

The company will issue all policy contracts under the Reliance Life Insurance

Company limited name

All the existing policy contracts also stand transferred to the Reliance Life

Insurance entity with all

the original contractual terms and commitments intact

bull Under Dhirubhairsquos extraordinary vision and leadershipReliance scripted one of

the greatest growth stories incorporate history anywhere in the world and went on

tobecome Indiarsquos largest private sector enterprise

bull Through out this amazing journey Dhirubhai alwayskept the interests of the

ordinary shareholderuppermost in mind in the process making millionairesout of

many of the initial investors in the Reliance stockand creating one of the worldrsquos

largest shareholderfamilies

FOUNDER

Few men in history have made as dramatic a contributionto their countryrsquos

economic fortunes as did the founder ofReliance Sh Dhirubhai H Ambani Fewer

still have leftbehind a legacy that is more enduring and timeless

bull As with all great pioneers there is more than oneunique way of describing the

true genius of DhirubhaiThe corporate visionary the unmatched strategist the

proud patriot the leader of men the architect of Indiarsquos capital markets the

champion of shareholder interest

bull But the role Dhirubhai cherished most was perhaps thatof Indiarsquos greatest wealth

creator In one lifetime hebuilt starting from the proverbial scratch Indiarsquos

largestprivate sector enterprise

bull When Dhirubhai embarked on his first business venturehe had a seed capital of

barely US$ 300 (around Rs14000) Over the next three and a half decades

heconverted this fledgling enterprise into aRs 60000crore colossusmdashan

achievement which earned Reliancea place on the global Fortune 500 list the first

everIndian private company to do so

bull Dhirubhai is widely regarded as the father of Indiarsquos capital markets In 1977

when Reliance Textile Industries Limited first went public the Indian stockmarket

was a place patronised by a small club of elite investors which dabbled in a handful

of stocks

bull Undaunted Dhirubhai managed to convince a largenumber of first-time retail

investors to participate in theunfolding Reliance story and put their hard-

earnedmoney in the Reliance Textile IPO promising them inexchange for their

trust substantial return on theirinvestments It was to be the start of one of

greatstories of mutual respect and reciprocal gain in theIndian markets

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

many of the initial investors in the Reliance stockand creating one of the worldrsquos

largest shareholderfamilies

FOUNDER

Few men in history have made as dramatic a contributionto their countryrsquos

economic fortunes as did the founder ofReliance Sh Dhirubhai H Ambani Fewer

still have leftbehind a legacy that is more enduring and timeless

bull As with all great pioneers there is more than oneunique way of describing the

true genius of DhirubhaiThe corporate visionary the unmatched strategist the

proud patriot the leader of men the architect of Indiarsquos capital markets the

champion of shareholder interest

bull But the role Dhirubhai cherished most was perhaps thatof Indiarsquos greatest wealth

creator In one lifetime hebuilt starting from the proverbial scratch Indiarsquos

largestprivate sector enterprise

bull When Dhirubhai embarked on his first business venturehe had a seed capital of

barely US$ 300 (around Rs14000) Over the next three and a half decades

heconverted this fledgling enterprise into aRs 60000crore colossusmdashan

achievement which earned Reliancea place on the global Fortune 500 list the first

everIndian private company to do so

bull Dhirubhai is widely regarded as the father of Indiarsquos capital markets In 1977

when Reliance Textile Industries Limited first went public the Indian stockmarket

was a place patronised by a small club of elite investors which dabbled in a handful

of stocks

bull Undaunted Dhirubhai managed to convince a largenumber of first-time retail

investors to participate in theunfolding Reliance story and put their hard-

earnedmoney in the Reliance Textile IPO promising them inexchange for their

trust substantial return on theirinvestments It was to be the start of one of

greatstories of mutual respect and reciprocal gain in theIndian markets

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

FOUNDER

Few men in history have made as dramatic a contributionto their countryrsquos

economic fortunes as did the founder ofReliance Sh Dhirubhai H Ambani Fewer

still have leftbehind a legacy that is more enduring and timeless

bull As with all great pioneers there is more than oneunique way of describing the

true genius of DhirubhaiThe corporate visionary the unmatched strategist the

proud patriot the leader of men the architect of Indiarsquos capital markets the

champion of shareholder interest

bull But the role Dhirubhai cherished most was perhaps thatof Indiarsquos greatest wealth

creator In one lifetime hebuilt starting from the proverbial scratch Indiarsquos

largestprivate sector enterprise

bull When Dhirubhai embarked on his first business venturehe had a seed capital of

barely US$ 300 (around Rs14000) Over the next three and a half decades

heconverted this fledgling enterprise into aRs 60000crore colossusmdashan

achievement which earned Reliancea place on the global Fortune 500 list the first

everIndian private company to do so

bull Dhirubhai is widely regarded as the father of Indiarsquos capital markets In 1977

when Reliance Textile Industries Limited first went public the Indian stockmarket

was a place patronised by a small club of elite investors which dabbled in a handful

of stocks

bull Undaunted Dhirubhai managed to convince a largenumber of first-time retail

investors to participate in theunfolding Reliance story and put their hard-

earnedmoney in the Reliance Textile IPO promising them inexchange for their

trust substantial return on theirinvestments It was to be the start of one of

greatstories of mutual respect and reciprocal gain in theIndian markets

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

was a place patronised by a small club of elite investors which dabbled in a handful

of stocks

bull Undaunted Dhirubhai managed to convince a largenumber of first-time retail

investors to participate in theunfolding Reliance story and put their hard-

earnedmoney in the Reliance Textile IPO promising them inexchange for their

trust substantial return on theirinvestments It was to be the start of one of

greatstories of mutual respect and reciprocal gain in theIndian markets

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

ABOUT RELIANCE LIFE INSURANCE

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd of the

Reliance - Anil DhirubhaiAmbani Group

Reliance Capital is one of Indiarsquos leading private sector financial services

companies and ranks among the top 3 private sector financial services and banking

companies in terms of net worth Reliance Capital has interests in asset

management and mutual funds stock broking life and general insurance

proprietary investments private equity and other activities in financial services

Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC)

registered with the Reserve Bank of India under section 45-IA of the Reserve Bank

of India Act 1934

Reliance Capital sees immense potential in the rapidly growing financial services

sector in India and aims to become a dominant player in this industry and offer

fully integrated financial services

Reliance Life Insurance is another steps forward for Reliance Capital Limited to

offer need based Life Insurance solutions to individuals and Corporate

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

ROLE OF RELIANCE LIFE INSURANCE

1) World Class Data Centre -

They plan to establish a Primary Data Centre at Navi Mumbai(DhirubhaiAmbani

Knowledge City) which will cater to their companyneeds across India with fail-

over capability to their Chennai Data Centrewithin the same business day in

occurance if an incident or Disasterhappens

2) Inter Office Connectivity -All their Branch Area and Regional offices will beinterconnected to their Data

Centre with a 24x7 access to CoreApplications like Lotus Mail Life-Asia and

Internet Applications Thiswill enable their associates to work faster and better

with high-speedInternet connectivity and also ensure faster Turn Around Time for

theircustomers

2) Customer Care Centre -

They will host a centralized Customer Care Centre atDhirubhaiAmbani Knowledge

City at Navi Mumbai which caterservices to internal and external queries and

complications A customer

Relationship Management Tool (CRM) and Lead Management System(LMS) are

in progress

3) Web Portal -

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

This portal will be an interface between both internal employeesand their external

users Some of the functions included in their portal arePolicy Tracking Systems

Corporate News Quality Checking System

Under Writing Medical System and Agent Management System etc

5) R World -Reliance Mobile R-World will provide online information abouttheir Company

Products and Policy Services to their existing customersAgentsAdvisors and

Lead Generators

6) SMS Alerts -SMS Alerts will be provided to their Sales Managers about thelatest happenings

like Contests and Campaigns Employee Alerts willinclude Company News and

WelcomeBirthdayAnniversary messageetc Customer Alerts will include

WelcomeBirthdayAnniversarymessage Policy Dispatch Details Policy Servicing

SMS like PremiumReceipt and Renewal Premium reminders etc

7) Life and Group Asia -Single Life and Group Life details will be captured and managedby Life and Group

Asia A common middleware between theseapplications will enable Group Life

Customers to view their individualSingle Life Insurance Plan details taken with

Reliance Life Insurance andvice versa

8) Advisor Lounge -

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

It is a dedicated area for Reliance Life InsuranceAgentsAdvisors in all the

branches across India This Lounge will beequipped with desktops and printers

with Internet connectivity where

their Advisors can bring in the prospects and can have discussions acrossthe table

and they can create and print quotes The AgentsAdvisors canuse this area to

service their existing customers

9) Document Management System -

DMS will enable both policy issuance and contract servicingthrough an automated

workflow which yields a faster Turn around Timeto both internal and external

users This application will enable them tohave a paperless office and thus mitigate

the risk of losing vital

recordspapers

10) Wireless Data Access -

This will enable identified Top Sales Managers and Top Advisorsto access real

time data for both LMS and CRM on the fly through HandheldPDA device

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

COMPANY STRUCTURE

HEAD ndash OFFICE

Registered Office

H Block 1st Floor

DhirubhaiAmbani Knowledge City

Navi Mumbai Maharashtra - 400710

Corporate Office

9th floor10th floor Building No 2

R-Tech Park Nirlon Compound

Next to Hub Mall Behind I- Flex building

Goregaon (East)

Mumbai-400 063

Fax No 022- 30002222

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

BRANCHES

They have so many branches and substations in the India They have around 1247

branches with over 195000 agents in the India And they have planned to open

more branches across the country in the coming months

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

BRANCH

BRANCH BRANCH

REGIONAL

REGIONAL REGIONAL

CHANNELHEAD

C EO

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

1048729Explanations of the diagram-The communication is flow between Branch to BranchWithin a branch it flows

between Branch Manager to Sales Managers andSales Managers to

AgentsAdvisors and then Branch Head to RegionalHead then different Regional

Head to Regional Head then Regional Headto Channel Head then to Chief

Marketing Officer (CMO) then to ChiefExecutive Officer (CEO)

DEPARTMENTThey are providing following areas or departments

1) Retail Sales

2) Under Writing

3) Actuarial

4) Insurance Operations

5) Customer Service

6) Quality and Processes

7) Human Resources

8) Finance

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

DISTRIBUTION CHANNEL

Reliance Life Insurance Company Limited is using five types of distribution

channel which are as follows

1) Agency -Independent insurance agents represent a number of companies and can research

these companiesrsquo products to find the right combination for their clients

Independent agents amp insurance producer groups are growing in prevalence

Although producer groups are in their infancy their emergence may potentially be

realignment in the distribution of financial services Independent shops realized

that by pooling production and funding a central support office they had increased

buying power

The one type of distribution channel which Reliance Life Insurance Co Ltd is

using is an agency This channel works as follows

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

2) Bank Assurance -

While a lot of bank relationships with insurance companies have been established

life insurance sales have been slower than one would expect he primary bank

insurance activities have been the distribution of annuities credit life and direct

marketing insurance

Banks are failing to incorporate successful sales tactics used to sell other financial

services like investments

Another type of distribution channel is bank assurance This channel is tie up with

banks In this channel the advisors using or targeting the bank customers to make a

business with them ie to sell the policy of the company

4) Corporate-

To gain a better understanding of the demand amongst independent advisors for

trust services and to gain a better feel for how independent advisors handle trust

services a research was performed with independent advisors across several

brokerdealers and custodians The interviews revealed that demand is greatest for

living trusts among independent advisors followed by demand for corporate

trustee services

Another type of distribution channel is corporate which are for employee benefits

This channel is tie up with corporate or small enterprises Through these small

enterprises the advisors will sell the productspolicy to customers of the small

enterprises

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

5) Rural Benefits-

Brokerage firms have gained much of the institutional and personal trust business

lost by the banks These firms have steadily captured assets primarily at the

expense of the banks The number of non-bank trust companies has increased in

recent years as independent trust companies have emerged and more brokerdealers

are integrated services Insurance companies view full-service brokers as a

potentially new distribution channel as well

Another type of distribution channel is rural benefits This channel works as a

dealership In this channel the dealers will sell the policy to the target customers

5) Web World-

Direct sales of life insurance are growing rapidly but many of the traditional full-

serve players seem to be letting it go Across all financial services consumers are

expressing a willingness to deal with a variety of providers on the web Web sites

are starting to pop up offering consumer insurance products especially designed for

distribution over the web

Another type of distribution channel is web world This channel is tie up with

customer database In this channel the advisors will sell the policy to the target

customers which are taken from the customer database are listed in the website

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

PRODUCT RANGE

TRADITIONAL PLAN-

Life insurance products are designed to suit the requirements of customers

Fundamentally the product provide for

1048729 Risk cover

1048729 Investment

1048729 Health cover

In every product to a certain degree risk cover is imperative for it to fall under the

category of insurance Based on the coverage of the product the premiums are

calculated and the customer pays accordingly In order to suggest the right product

it is essential for an agent to understand

the requirements of the customer well

Reliance Life Insurance Company Limited has offered 9 traditional plans to the

customers which are listed as follows

1) Reliance Term Plan

2) Reliance Whole Life Plan

3) Reliance Child Plan

4) Reliance Endowment Plan

5) Reliance Special Endowment Plan

6) Reliance Cash Flow Plan

7) Reliance Credit Guardian Plan

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

8) Reliance Special Credit Guardian Plan

Each of the above traditional plans is discussed as follows

1) Reliance Term plan -

This insurance policy is designed for those who only want life cover for the

protection of their family and do not wish to save for themselves It can also be

useful to business firms that wish to provide financial security to their business

against the sudden loss of partners or valuable manpower Since there is no saving

element or bonus provision the premium is very low

Hence this is a high-risk plan with a low premium

1048729Features -a) Purely a term plan

b) Entry age minimum 18 years and maximum 65 year

c) Maximum premium paying term is 30 year

d) Loan facility NA

e) Maturity amount = Sum assured

2) Reliance Whole Life Plan -

This insurance policy is designed for people who do not wish to avail of any

benefits themselves but wish to create an immediate estate to protect their family

by availing of insurance cover on their life at a very low cost

1048729Features -

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

a) It is a whole life insurance policy with profits

b) Low cost life cover

c) Maturity age is 85 year or 99 years last birthday as chosen

d) Maturity amount = Sum assured + Vested bonus

e) Tax benefit is available

3) Reliance Child Plan -

This insurance policy is designed for people who wish to save money for a future

time when there will be a recurring need for substantial amounts of money This is

especially true when it comes to paying large sums of money for higher education

as and when your son or daughter is studying to become an Engineer a Doctor or

specialize in some other field or is perhaps planning to go abroad

This money is payable in equal installments over the last 4 years of the policy

term

1048729Features -

I Minimum entry age is 20 year and maximum 60 year

a) Minimum sum assured is Rs 25000

b) Minimum premium paying term is 5 year and maximum

20 year

c) Tax benefit is available

d) Maturity amount = Four equal installment of sum insured

in last four year plus vested bonus in the last year

e) Loan facility is available

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

4) Reliance Endowment Plan -

Reliance Life Insurancersquos Reliance Endowment Plan is the key to all your financial

needs It is an inexpensive and easy way to protect you your family or your

business In a nutshell this plan will keep you financially prepared for all the

special occasions in your life - your daughterrsquos wedding your childrsquos university

education or even a new office for your business - by eliminating the burden

that a shortage of money creates

In the event of your untimely death Reliance Endowment Plan will also assist your

loved ones through this difficult time by the financial support that it provides

Reliance Endowment Plan also gives you the additional benefit of participating in

the companyrsquos profits which you will receive at the end of the policy period

1048729Features -

a) Entry age minimum is 5 year and maximum 65 year

b) Maturity age minimum is 18 year and maximum 75 year

c) Minimum premium paying term is 5 year and maximum 35 year in case of

regular and in case of single 15 year

d) Minimum sum assured is Rs 25000 or as determined by the minimum premium

e) Maximum sum assured is Rs 500000 (entry age below 18 years and no limit

for entry age 18 and above)

f) Premium mode annual half yearly quarterly and monthly (by salary deduction

only)

g) Loan up to 90 of the surrender value of the policy

h) Maturity amount = Guaranteed sum assured + Reversionary bonus

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

5) Reliance Special Endowment Plan -

This insurance policy is designed for people who wish to combine savings with

extended security The unique feature of this policy is that life protection continues

for five years after you have stopped the payment of premium Payment of sum

assured at the end of premium paying term and

extension of life cover thereafter for the full sum assured for a period of 5 years

are characteristics of the policy

This plan also participates in the profits

1048729Features -

a) Entry age minimum 12 year and maximum 65 year

b) Minimum sum assured is Rs 25000

c) Minimum premium paying term is 10 year and maximum 40 year

d) Unique feature of this policy is that five year life protection continues after you

have stopped the payment of premium

e) Tax benefit is available

f) Under this policy bonus is compounded yearly

g) Loan facility is available

h) Maturity amount = Full sum assured before maturity date + Vested bonus at the

time of maturity date

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

6) Reliance Cash Flow Plan -

This insurance policy is designed for those who have a recurring need for

reinvestment in business or look for short-term investment channels The

advantage of the policy is that they need not part with a sizable amount of money

at any one time but create through regular premium payments a

periodic return of lump sums which become available for reinvestment at higher

returns while providing simultaneously substantial life cover

Alternatively it can be used to meet any immediate financial crisis in the family

like your sons college admission your daughters engagement and renovation of

your home or perhaps a holiday abroad

The money is payable in installments The first installment is paid at the end of the

4th year and thereafter at the end of every 3rd year

1048729Features-

a) Plan with profits

b) Minimum entry age is 15 year and maximum is 63 year

c) Maximum premium paying term is 34 year

d) Loan facility is not available

e) In case of death full sum assured + accrued bonuses up to

the date of death is payable immediately

f) In case of survival up to maturity date all premium paid

g) Rider accident death and critical illness

h) Mode of payment is available

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

7) Reliance Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards individuals but

also families and businesses from the financial hardship that could arise from

unfortunate and unexpected death

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for single and regular is available

e) Premium paying term is 23 of loan period and remaining period paid by the

company

8) Reliance Special Credit Guardian Plan -

This insurance policy is designed for those who not only safeguards

individuals but also families and businesses from the financial hardship that

could arise from unfortunate and unexpected death disability or critical

illnesses

1048729Features -

a) Loan protection against home home improvement two wheelers and four

wheelers

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

b) In case of death remaining loan amount paid immediately

c) In case of survival no benefit is available

d) Premium payment option for regular and single is available

e) Premium payment term is 23 of loan period and remaining period paid by the

company

f) Maturity amount = All the premium paid amount

g) Tax benefit is available

8 UNIT LINKED PLAN

A unit-linked policy is a life assurance policy in which the benefits depend on the

performance of a portfolio of shares

Each premium paid by the insured person is split a part is used to provide life

assurance cover while the balance (after the deduction of costsexpenses etc) is

used to buy units in a unit trust

In this way a small investor can benefit from investment in a managed fund

without making a large financial commitment As they are linked to the value of

shares unit linked policies can go up or down in value

Policyholders can surrender the policy at any time and the surrender value is the

selling price of the units purchased by the date of cancellation 9less expense) A

small part of the contribution is used for providing life cover and the balance is

invested in unit Legal heirs are entitled to the amount of

insurance cover and entitled units in case of death of the insured

Reliance Life Insurance Company Limited has also offered the two

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Unit Linked Plans which are listed as follows

1) Reliance Market Return Plan

2) Reliance Golden Years Plan

Amongst the above plans the Reliance Market Return Plan is the

largest selling plan of the Reliance Life Insurance Company Limited

The above two ULIP plans are discussed as follows

1) Reliance Market Return Plan -

Reliance Market Return Fund is the unit-linked product that helps you invest in the

financial markets in a combination of investment instruments of your choice You

can enjoy the returns from the markets without the trouble of monitoring and

managing your own investment portfolio and keeping track of the market

movements At the same time your investment premiums provide you with

insurance cover Reliance Market Return Fund unit-linked insurance plan provides

you with a basket of fund options that balances your return and risk exposure while

providing life cover at the same time

1048729Features -

a) Minimum entry age is 30 days and maximum entry age is 65 year

b) Maximum policy term 40 year and minimum policy term 5 year

c) Mode of premium as annual quarterly half yearly and monthly Rs 1000 (for

salary deduction only) and Rs 2500 (standing ordercredit card)

d) Top up premium minimum Rs 2500

e) Option of investment fund

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

i Capital secure 100 fixed interest securities

ii Balanced minimum 80 fixed interest securities and maximum 20 in equity

iii Equity 100 equity

iv Growth minimum 60 fixed interest securities and maximum 40 in equity

f) Loan facility is not available

g) One switches every year free and subsequent switches charged 1 of the

amount switched

h) Partial withdrawals per year under regular and single premium options is 2 times

i) Lock in period till today is 3 year

j) Minimum unit account balance after each withdrawals is Rs 10000

2) Reliance Golden Years Plan -

Reliance Golden Years Planhellip The Reliance Life Insurance lsquono-worry stay

happyrsquoretirementplan Reliance Golden Years Plan is a flexible package that

provides freedom of choice in choosing the type of investment life cover vesting

options such as commuting and annuity options Contributions

provide Income tax savings as well

Reliance Golden Years Plan a flexible pension product is available for all

individuals who are between the ages of 18 and 65

1048729Features -

a) Entry age minimum is 18 year and maximum 65 year

b) Minimum premium amount Rs 10000 and maximum is unlimited

c) Mode of premium payment is available

d) Pension plan with risk cover and without risk cover

e) Choice of investment

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

i Capital secure fund ndash 80 in equity and 20 in government security

ii Balanced fund ndash 80 in government and 20 in equity

f) No loan facility is available

g) Tax benefit is available

h) Annuity options

i Annuity payable for life

ii Annuity payable for 51015 years certain and thereafter with life

iii Annuity payable for life with return of capital on death of the annuitant

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

MILESTONE FUTURE PROJECTIONS

1048729 Forty-four new branches to be opened across the country in thecoming months

and a pan India presence with 162 branches in thecoming year

1048729A state-of-the-art customer care centre will provide continuousresponsive

services to the caller and promptly address queries collatefeedback and

suggestions from the caller who may be both

prospective and existing clientele and from channel partners inChennai and

Mumbai

1048729It will be launching additional products aimed at providingunparalleled service to

its valued clientele

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

MARKET SHARE OF RELIANCE LIFE INSURANCE

Currently Reliance Lifes market share is at around 55 per cent in the life

insurance space

Reliance Life Insurance had sold the highest number of policies among 22 private

sector players in 2009-10 During the year the company sold about 232 lakh

policies against 221 lakh policies in the previous year

We hope to achieve an overall premium of Rs 20000 crore and more than double

our assets under management to cross over Rs 30000 crore in the next two fiscal

Ghosh said

In the first two months of the current fiscal the first year premium collection of

Reliance Life increased by 225 per cent to Rs 316 crore

Ghosh further said that the company expects to achieve break even in the next

fiscal

He added that Reliance Life would require Rs 250 crore in the current fiscal out of

which Rs 70 crore has already been infused

Apart from a healthy mix of unit linked and traditional products Reliance Life also

plans to focus on evolving health insurance segments in the country

We are strengthening our health insurance portfolio with innovative productswe

aim to be among the top three health insurers by 2012 Ghosh added

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Reliance Life Insurance which operates through strong distribution network of

1247 branches with over 195000 agents has an AUM (Asset Under

Management) of Rs 13677 crore

Replying to questions on Unit Linked Insurance Products (ULIPs) Ghosh said

ULIPs constituted around 90 per cent in the companys product basket in the last

fiscal which is expected to decline to 60 per cent in the current year

Life insurance industry grew 25 per cent in terms of first year premium collection

in 2009-10 The 23 life insurers mopped up premium of Rs 109 lakh crore in the

last fiscal compared to Rs 87108 crore in 2008-09

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

TOTTAL ASSETS

Reliance Life Insurance Company (RLIC) part of Anil Ambani-led Reliance

Capital on Monday said it has crossed the milestone figure of Rs 15000 crore in

assets under management (AUM) and plans to double this by 2011-12 RLIC

would be among the fastest private sector life insurance

companies to cross this milestone in a span of less than 5 years said Malay

Ghosh president and executive director Reliance Life Insurance

According to the company its AUM registered a growth of 142 percent per annum

in the last five years to reach Rs 15000 crore from Rs 200 crore in October 2005

It follows the Rs 10000 crore AUM mark recorded in September 2009

ldquoOur wide-ranging fund offerings and sharp focus on growth have helped us

achieve this milestonerdquo Ghosh added

The company plans to double its AUM to Rs 30000 crore by 2011-12 The

company has also issued over 95 million policies till date

We will continue to focus our investments in companies with strong management

healthy financial growth performance and dynamic business model said

RangarajanRajagopalan chief investment officer RLIC

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

INTRODUCTION

TO

TOPIC

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

EMPLOYEE MOTIVATIONThe project work entitled a STUDY ON EMPLOYEE MOTIVATION with special

reference to Hyderabad Industries Ltd Thrissur is mainly conducted to identify the

factors which will motivate the employees and the organizational functions in

Hyderabad Industries Ltd Thrissur

Managementrsquos basic job is the effective utilization of human resources for

achievements of organizational objectives The personnel management is

concerned with organizing human resources in such a way to get maximum output

to the enterprise and to develop the talent of people at work to the fullest

satisfaction Motivation implies that one person in organization context a manager

includes another say an employee to engage in action by ensuring that a channel

to satisfy those needs and aspirations becomes available to the person In addition

to this the strong needs in a direction that is satisfying to the latent needs in

employees and harness them in a manner that would be functional for the

organization

Employee motivation is one of the major issues faced by every organization It is

the major task of every manager to motivate his subordinates or to create the lsquowill

to workrsquo among the subordinates It should also be remembered that a worker may

be immensely capable of doing some work nothing can be achieved if he is not

willing to work A manager has to make appropriate use of motivation to enthuse

the employees to follow them Hence this studies also focusing on the employee

motivation among the employees of Hyderabad Industries Ltd

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

The data needed for the study has been collected from the employees through

questionnaires and through direct interviews Analysis and interpretation has been

done by using the statistical tools and datarsquos are presented through tables and

charts

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

THE CONCEPT OF MOTIVATIONThe word motivation has been derived from motive which means any idea need or

emotion that prompts a man in to action Whatever may be the behavior of man

there is some stimulus behind it Stimulus is dependent upon the motive of the

person concerned Motive can be known by studying his needs and desires

There is no universal theory that can explain the factors influencing motives which

control mans behavior at any particular point of time In general the different

motives operate at different times among different people and influence their

behaviors The process of motivation studies the motives of individuals which

cause different type of behavior

Definition of Motivation

According to Edwin B Flippo ldquoMotivation is the process of attempting to

influence others to do their work through the possibility of gain or reward

Significance of Motivation

Motivation involves getting the members of the group to pull weight effectively to

give their loyalty to the group to carry out properly the purpose of the

organization The following results may be expected if the employees are properly

motivated

1 The workforce will be better satisfied if the management provides them with

opportunities to fulfill their physiological and psychological needs The workers

will cooperate voluntarily with the management and will contribute their

maximum towards the goals of the enterprise

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

2 Workers will tend to be as efficient as possible by improving upon their skills

and knowledge so that they are able to contribute to the progress of the

organization This will also result in increased productivity

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

4 There will be good human relations in the organization as friction among the

workers themselves and between the workers and the management will

decrease

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

be low

6 There will be increase in the quantity and quality of products Wastage and

scrap will be less Better quality of products will also increase the public image

of the business

Motivation Process

1 Identification of need

2 Tension

3 Course of action

4 Result ndashPositiveNegative

5 Feed back

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

THEORIES OF MOTIVATIONUnderstanding what motivated employees and how they were motivated was the

focus of many researchers following the publication of the Hawthorne study results

(Terpstra 1979) Six major approaches that have led to our understanding of

motivation are Mcclellandrsquos Achievement Need Theory Behavior Modification

theory Abraham H Mallows need hierarchy or Deficient theory of motivation JS

Adamrsquos Equity Theory Vrooms Expectation Theory Two factor Theory

MCCLELLANDrsquoS ACHIEVEMENT NEED THEORY

According to McClellandrsquos there are three types of needs

Need for Achievement (n Ach)

This need is the strongest and lasting motivating factor Particularly in case of

persons who satisfy the other needs They are constantly pre occupied with a desire

for improvement and lack for situation in which successful outcomes are directly

correlated with their efforts They set more difficult but achievable goals for

themselves because success with easily achievable goals hardly provides a sense of

achievement

Need for Power (n Pow)

It is the desire to control the behavior of the other people and to manipulate the

surroundings Power motivations positive applications results in domestic

leadership style while it negative application tends autocratic style

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Need for affiliation (n Aff)

It is the related to social needs and creates friendship This results in formation of

informal groups or social circle

Behavioral Modification Theory

According to this theory people behavior is the outcome of favorable and

unfavorable past circumstances This theory is based on learning theory Skinner

conducted his researches among rats and school children He found that stimulus

for desirable behavior could be strengthened by rewarding it at the earliest In the

industrial situation this relevance of this theory may be found in the installation of

financial and non financial incentives

More immediate is the reward and stimulation or it motivates it Withdrawal of

reward incase of low standard work may also produce the desired result However

researches show that it is generally more effective to reward desired behavior than

to punish undesired behavior

Abraham H Maslow Need Hierarchy or Deficient theory of Motivation

The intellectual basis for most of motivation thinking has been provided by

behavioral scientists AH Maslow and Frederick Heizberg whose published works

are the ldquoBible of Motivationrdquo Although Maslow himself did not apply his theory

to industrial situation it has wide impact for beyond academic circles Douglous

Mac Gregor has used Maslowrsquos theory to interpret specific problems in personnel

administration and industrial relations

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

The crux of Maslowrsquos theory is that human needs are arranged in hierarchy

composed of five categories The lowest level needs are physiological and the

highest levels are the self actualization needs Maslow starts with the formation

that man is a wanting animal with a hierarchy of needs of which some are lower

ins scale and some are in a higher scale or system of values As the lower needs are

satisfied higher needs emerge Higher needs cannot be satisfied unless lower needs

are fulfilled A satisfied need is not a motivator This resembles the standard

economic theory of diminishing returns The hierarchy of needs at work in the

individual is today a routine tool of personnel trade and when these needs are

active they act as powerful conditioners of behavior- as Motivators

Hierarchy of needs the main needs of men are five They are physiological needs

safety needs social needs ego needs and self actualization needs as shown in

order of their importance

Fig (21)

Self- Actualization

Ego Needs

Social Needs

Safety Needs

Physiological Needs

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

The above five basic needs are regarded as striving needs which make a person do

things The first model indicates the ranking of different needs The second is more

helpful in indicating how the satisfaction of the higher needs is based on the

satisfaction of lower needs It also shows how the number of person who has

experienced the fulfillment of the higher needs gradually tapers off

Physiological or Body Needs - The individual move up the ladder responding

first to the physiological needs for nourishment clothing and shelter These

physical needs must be equated with pay rate pay practices and to an extent with

physical condition of the job

Safety - The next in order of needs is safety needs the need to be free from

danger either from other people or from environment The individual want to

assured once his bodily needs are satisfied that they are secure and will continue

to be satisfied for foreseeable feature The safety needs may take the form of job

security security against disease misfortune old age etc as also against industrial

injury Such needs are generally met by safety laws measure of social security

protective labor laws and collective agreements

Social needs - Going up the scale of needs the individual feels the desire to work

in a cohesive group and develop a sense of belonging and identification with a

group He feels the need to love and be loved and the need to belong and be

identified with a group In a large organization it is not easy to build up social

relations However close relationship can be built up with at least some fellow

workers Every employee wants too feel that he is wanted or accepted and that he

is not an alien facing a hostile group

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Ego or Esteem Needs - These needs are reflected in our desire for status and

recognition respect and prestige in the work group or work place such as is

conferred by the recognition of ones merit by promotion by participation in

management and by fulfillment of workers urge for self expression Some of the

needs relate to ones esteem

eg need for achievement self confidence knowledge competence etc On the

job this means praise for a job but more important it means a feeling by employee

that at all times he has the respect of his supervisor as a person and as a contributor

to the organizational goals

Self realization or Actualization needs - This upper level need is one which

when satisfied provide insights to support future research regarding strategic

guidance for organization that are both providing and using rewardrecognition

programs makes the employee give up the dependence on others or on the

environment He becomes growth oriented self oriented directed detached and

creative This need reflects a state defined in terms of the extent to which an

individual attains his personnel goal This is the need which totally lies within

oneself and there is no demand from any external situation or person

JS Adams Equity Theory

Employee compares herhis job inputs outcome ratio with that of reference If the

employee perceives inequity shehe will act to correct the inequity lower

productivity reduced quality increased absenteeism voluntary resignation

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Vrooms Expectation Theory

Vroomrsquos theory is based on the belief that employee effort will lead to

performance and performance will lead to rewards (Vroom 1964) Reward may be

either positive or negative The more positive the reward the more likely the

employee will be highly motivated Conversely the more negative the reward the

less likely the employee will be motivated

Two Factor Theory

Douglas McGregor introduced the theory with the help of two views X

assumptions are conservative in style Assumptions are modern in style

X Theory

Individuals inherently dislike work

People must be coerced or controlled to do work to achieve the objectives

People prefer to be directed

Y Theory

People view work as being as natural as play and rest

People will exercise self direction and control towards achieving objectives

they are committed to

People learn to accept and seek responsibility

TYPES OF MOTIVATION

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Intrinsic motivation occurs when people are internally motivated to do something

because it either brings them pleasure they think it is important or they feel that

what they are learning is morally significant

Extrinsic motivation comes into play when a student is compelled to do something

or act a certain way because of factors external to him or her (like money or good

grades)

Incentives

An incentive is something which stimulates a person towards some goal It

activates human needs and creates the desire to work Thus an incentive is a

means of motivation In organizations increase in incentive leads to better

performance and vice versa

Need for Incentives

Man is a wanting animal He continues to want something or other He is never

fully satisfied If one need is satisfied the other need need arises In order to

motivate the employees the management should try to satisfy their needs For this

purpose both financial and non financial incentives may be used by the

management to motivate the workers Financial incentives or motivators are those

which are associated with money They include wages and salaries fringe benefits

bonus retirement benefits etc Non financial motivators are those which are not

associated with monetary rewards They include intangible incentives like ego-

satisfaction self-actualization and responsibility

INCENTIVES

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Financial Incentives Non-financial

incentives

- Wages and Salaries - Competition

- Bonus - Group recognition

- Medical reimbursement - Job security

- Insurance - Praise

- Housing facility - Knowledge of

result

- Retirement benefits - Workers

participation

- Suggestion

system

- Opportunities for growth

Motivation is the key to performance improvement

There is an old saying you can take a horse to the water but you cannot force it to

drink it will drink only if its thirsty - so with people They will do what they want

to do or otherwise motivated to do Whether it is to excel on the workshop floor or

in the ivory tower they must be motivated or driven to it either by themselves or

through external stimulus

Are they born with the self-motivation or drive Yes and no If no they can be

motivated for motivation is a skill which can and must be learnt This is essential

for any business to survive and succeed

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Performance is considered to be a function of ability and motivation thus

Job performance =f(ability)(motivation)

Ability in turn depends on education experience and training and its improvement

is a slow and long process On the other hand motivation can be improved quickly

There are many options and an uninitiated manager may not even know where to

start As a guideline there are broadly seven strategies for motivation

There are broadly seven strategies for motivation

Positive reinforcement high expectations

Effective discipline and punishment

Treating people fairly

Satisfying employees needs

Setting work related goals

Restructuring jobs

Base rewards on job performance

Essentially there is a gap between an individualrsquos actual state and some desired

state and the manager tries to reduce this gap Motivation is in effect a means to

reduce and manipulate this gap

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

OBJECTIVES OF THE STUDY

Primary objective

1 To study the important factors which are needed to motivate the employees

Secondary Objective

1 To study the effect of monetary and non-monetary benefits provided by the

organization on the employeersquos performance

2 To study the effect of job promotions on employees

3 To learn the employeersquos satisfaction on the interpersonal relationship exists

in the organization

4 To provide the practical suggestion for the improvement of organizationrsquos

performance

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

RESEARCH HYPOTHESIS

A hypothesis is a preliminary or tentative explanation or postulate by the

researcher of what the researcher considers the outcome of an investigation will be

It is an informededucated guess It indicates the expectations of the researcher

regarding certain variables It is the most specific way in which an answer to a

problem can be stated

Research hypotheses are the specific testable predictions made about the

independent and dependent variables in the study Hypotheses are couched in

terms of the particular independent and dependent variables that are going to be

used in the study The research hypothesis of this study is as follows

Ho There is no significant relationship between incentives and employeersquos

performance

Ho There is no significant relationship between career development opportunities

and the extent of employee motivation

Ho There is no significant relationship between performance appraisal system and

the extent of motivation

Ho There is no significant relationship between interpersonal relationship in the

organization and extent of motivation

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

RESEARCH METHODOLOGYResearch is a systematic method of finding solutions to problems It is essentially

an investigation a recording and an analysis of evidence for the purpose of gaining

knowledge According to Clifford woody ldquoresearch 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 hypothesisrdquo1

Sampling Design

A sample design is a finite plan for obtaining a sample from a given population

Simple random sampling is used for this study

Universe

The universe chooses for the research study is the employees of Hyderabad

Industries Ltd

Sample Size

Number of the sampling units selected from the population is called the size of the

sample Sample of 50 respondents were obtained from the population

Sampling Procedure

The procedure adopted in the present study is probability sampling which is also

known as chance sampling Under this sampling design every item of the frame

has an equal chance of inclusion in the sample

1 Kothari C R ldquoResearch Methodology-Methods amp Techniquesrdquo-2nd revised edition (2007) New Age International Publishers- New Delhi

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Methods of Data Collection

The datarsquos were collected through Primary and secondary sources

Primary Sources

Primary data are in the form of ldquoraw materialrdquo to which statistical methods are

applied for the purpose of analysis and interpretations

The primary sources are discussion with employees datarsquos collected through

questionnaire

Secondary Sources

Secondary datarsquos are in the form of finished products as they have already been

treated statistically in some form or other

The secondary data mainly consists of data and information collected from records

company websites and also discussion with the management of the organization

Secondary data was also collected from journals magazines and books

Nature of Research

Descriptive research also known as statistical research describes data and

characteristics about the population or phenomenon being studied Descriptive

research answers the questions who what where when and how

Although the data description is factual accurate and systematic the research

cannot describe what caused a situation Thus descriptive research cannot be used

to create a causal relationship where one variable affects another In other words

descriptive research can be said to have a low requirement for internal validity

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Questionnaire

A well defined questionnaire that is used effectively can gather information on

both overall performance of the test system as well as information on specific

components of the system A defeated questionnaire was carefully prepared and

specially numbered The questions were arranged in proper order in accordance

with the relevance

Nature of Questions Asked

The questionnaire consists of open ended dichotomous rating and ranking

questions

Pre-testing

A pre-testing of questionnaire was conducted with 10 questionnaires which were

distributed and all of them were collected back as completed questionnaire On the

basis of doubts raised by the respondents the questionnaire was redialed to its

present form

Sample

A finite subset of population selected from it with the objective of investigating its

properties called a sample A sample is a representative part of the population A

sample of 50 respondents in total has been randomly selected The response to

various elements under each questions were totaled for the purpose of various

statistical testing

Variables of the Study

The direct variable of the study is the employee motivation

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Indirect variables are the incentives interpersonal relations career development

opportunities and performance appraisal system

Presentation of Data

The data are presented through charts and tables

Tools and Techniques for Analysis

Correlation is used to test the hypothesis and draw inferences

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

LITERATURE REVIEWRensis Likerthas called motivation as the core of management Motivation is the

core of management Motivation is an effective instrument in the hands of the

management in inspiring the work force It is the major task of every manager to

motivate his subordinate or to create the will to work among the subordinates It

should also be remembered that the worker may be immensely capable of doing

some work nothing can be achieved if he is not willing to work creation of a will

to work is motivation in simple but true sense of term

Motivation is an important function which very manager performs for actuating the

people to work for accomplishment of objectives of the organization Issuance of

well conceived instructions and orders does not mean that they will be followed A

manager has to make appropriate use of motivation to enthuse the employees to

follow them Effective motivation succeeds not only in having an order accepted

but also in gaining a determination to see that it is executed efficiently and

effectively

In order to motivate workers to work for the organizational goals the managers

must determine the motives or needs of the workers and provide an environment in

which appropriate incentives are available for their satisfaction If the management

is successful in doing so it will also be successful in increasing the willingness of

the workers to work This will increase efficiency and effectiveness of the

organization There will be better utilization of resources and workers abilities and

capacities

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

DATA ANALYSIS

AND

INTERPRETATIONS

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

1 Which type of incentives motivates you more

a) Monetary incentives

b) Non-financial incentives

c) Both

INTERPRETATION

The table shows that 52 of the respondents are expressing that both

financial and non-financial incentives will equally motivate them 18 are

expressing non-financial incentives motivates and 30 respondents says we only

motivated through monetary incentives only

2 What factor De-motives you at work place

a) Job profile

b) Company policy

c) Work environment

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Job profile Company policy Work environment0

5

10

15

20

25

30

35

40

45

28

32

40

INTERPRETATION

The table shows that 40 of the respondents are de-motives with work

environment and 32 with company policy and 28 of the respondents are de-

motives with job profile From this it can be concluded that work environment and

company policy are de-motives at work place

3 How far you are satisfied with the incentives provided by the organizations

a) Highly satisfiedb) Satisfiedc) Neutrald) Dissatisfiede) Highly dissatisfied

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Highly satis-fied

Satisfied Neutral Dissatisfied Highly dissatisfied

0

10

20

30

40

50

60

70

36

58

60 0

INTERPRETATION

The table shows that 36 of the respondents are highly satisfied and 58 of

the respondents are satisfied with incentives provided by the organization so we

can conclude most of the employees are satisfied with the incentives provided by

the organization

4 Does your Job improve your skills and abilities

a) Yes

b) No

c) Never

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Yes No Never0

10203040506070 64

20 16

INTERPRETATION

64 of the respondents are agreed that their job improves their skills and

abilities and 20 of the respondents agreed that their skills and abilities are not

improves It can be conclude that their job improves their skills and abilities

5 Do you think that the incentives and other benefits will influence you

performance

a) Influence

b) Does not influence

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

c) No opinion

Influence Does not influence No opinion0

10

20

30

40

50

60

70 64

24

12

INTERPRETATION

The table shows that 64 of the respondents those incentives and other

benefits will influence their performance24 respondents says they are not

influence their performance and 12 respondents did not say any opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

)

Agree Disagree Neutral0

10

20

30

40

50

6050

36

14

INTERPRETATION

From the above table 50 of the employees are agreed that the management is

really interested in motivating the employees and 36 of the employees are

disagreed and 14 are neutralSo it can be concluded that management is really

interested in motivate the employees in organization

7 Does the management involve you in the decision making which are connected

to your department

a) YES

b) No

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

c) Occasionally

Yes No Occasionally0

102030405060708090

100 94

0

6

INTERPRETATION

The table shows 94 of the respondents agree that they the management involves them in

decision making which are connected their department

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Al-ways 30

Sometimes 60

Never 10

PERCENTAGE

AlwaysSometimesNever

INTERPRETATION

From the above table we can conclude that 60 of the respondents agreed

that they feel enthusiastic some times in their work

9 Are you encouraged to come up with new and better ways of doing things

a) Strongly agree b) agree c) Neutral d) Disagree e) Strongly disagree

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Strongly agree

agree Neutral Disagree Strongly disagree

05

1015202530354045

40

2024

16

0

INTERPRETATION

From the above table we can conclude that 40 of the employees agreed that they

are encouraging to come up with new and better ways of doing things

10 Have you been promoted at work in the last six months

a ) Yes

b) N

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Yes 36

No 64

YesNo

INTERPRETATION

The table shows that 64 of the employees are not promoted from the last

six months and 36 of the employees are promoted From this we can conclude

that most of the employees are not promoted

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

c) neutral

Agree Disagree Neutral0

10

20

30

40

50

60 56

20 24

INTERPRETATION

The figure shows that 56 of the employees agreed that they are recognized

for good work and 20 are disagreed and 24 respondents are neutralSo it can

conclude that most of the employees recognized by their good work

12 Rank the following factors which motivates you the most

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

010203040

42

30

610 12

INTERPRETATION

The table shows that 42 of the respondents are responding that the increase

in salary will motivate them the most

13 Have you been nominated for training amp development programmes for the last 6 months

a) Yes

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

b) No

Particulars No of Respondents Percentage

Yes 30 60

No 20 40

Total 50 100

60

40

YesNo

INTERPRETATION

The table shows that 60 of the respondents are expressing that they are

nominated for training and development programme in the organization for the last

6 months

14 Does the management provide continuous feed back in solving work related

problems

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

a) Strongly Agree b) Agree c) Neutral d) Disagree e) Strongly

Disagre

Strongly agree

Agree Neutral Disagree Strongly Disagree

0

5

10

15

20

25

30

35

2832

18

1012

INTERPRETATION

The table shows that 28 of respondents strongly agreed and 32 agree that

they are getting feedback from management and 20 are neutral and 10 are

disagree that they are not getting feedback from the management

15 Overall are you satisfied with your job

a) Yes

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

b) No

Particulars Number of Respondents

Percentage

Yes 28 56No 22 44TOTAL 50 100

Percentage0

10

20

30

40

50

60 56

44

YesNo

INTERPRETATION

The figure shows that 56 of the respondents are satisfied with their job and

only 44 of the respondents agreed that they are not satisfied with their jobIt can

be concluded that most of the respondents are satisfied with their job

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

SUMMARY

amp

CONCLUSIONS

FINDINGS

The findings of the study are follows

The Reliance Life Insurance has a well defined organization structure

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

There is a harmonious relationship is exist in the organization between

employees

and management

The employees are really motivated by the management

The employees are satisfied with the present incentive plan of the company

Most of the workers agreed that the company is eager in recognizing and

acknowledging their work

The study reveals that there is a good relationship exists among employees

Majority of the employees agreed that there job security to their present job

The company is providing good safety measures for ensuring the employees

safety

From the study it is clear that most of employees agrees to the fact that

performance

Appraisal activities and support from the coworkers in helpful to get

motivated

The study reveals that increase in the salary will motivates the employees

more

The incentives and other benefits will influence the performance of the

employees

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

CONCLUSION

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

The study concludes that the motivational program procedure in Reliance

Life Insurance is found effective but not highly effective The study on employee

motivation highlighted so many factors which will help to motivate the employees

The study was conducted among 50 employees and collected information through

structured questionnaire The Study helped to findings which were related with

employee motivational programs which are provided in the organization

The performance appraisal activities really play a major role in motivating

the employees of the organization It is a major factor that makes an employee

feels good in his work and results in his satisfaction too The organization can still

concentrate on specific areas which are evolved from this study in order to make

the motivational programs more effective Only if the employees are properly

motivated- they work well and only if they work well the organization is going to

benefit out it Steps should be taken to improve the motivational programs

procedure in the future The suggestions of this report may help in this direction

SUGGESTIONS

The suggestions for the findings from the study are follows

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Most of the employees agree that the performance appraisal activities are

helpful to get motivated so the company should try to improve

performance appraisal system so that they can improve their performance

Non financial plans should also be implemented it can improve the

productivity level of the employees

Organization should give importance to communication between employees

and gain co-ordination through it

Skills of the employees should be appreciated

Better carrier development opportunities should be given to the employees

for their improvement

If the centralized system of management is changed to a decentralized one

then there would be active and committed participation of staff for the

success of the organization

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

BIBLIOGRAPHY

BOOKS REFFERED

Wayne F Cascio 2006 Managing Human Resources TMH

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

Aswathappa 2006 Human Resource Management 4th edition TMH

KAswathappa 2006 Organizational Behaviour- Text Cases and games

Himalaya Publishing House

Curtis w cook and Phillip LHunsaker 2006 Management and

Organizational Behaviour Macgraw-Hill Irwin

Jyothi P and DN Venkatesh-2006 Human Resource Management Oxford

University press

HRM Review July 2010 by DrG C NAG Adjunct Professor IBS ndash Mumbai

WEB REFERENCES

wwwgooglecom

wwwsyndicatebankcoin

www motivationnaukrihubcom

www humanresourcesaboutcom

ANNEXURE

QUESTIONNAIRE

Employee Name

Age

Sex

Designation

DepartmentBranch

Marital status

Salary

1 Which Type Of Incentives Motivate You More

a) Monetary Incentives

b) Non- Financial Incentives

c) Both

2 What factor de-motivates you at work place

a) Job profile

b) Company policy

c) Work environment

3How far you are satisfied with the incentives provided by the organisation

a) Highly satisfied

b) satisfied

c) neutral

4 Does your job improve your skills and abilities

a) Yes

b) No

c) Never

5 Do you think that the incentives and other benefits will influence your

performance

a) Influence

b) Does not influence

c) No opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

7 Does the management involve you in the decision making which are connected

to your department

a) Yes

b) No

c) Occasionally

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

9 Are you encouraged to come up with new and better ways of doing

things

a) Strongly agree

b) Agree

c) Neutral

d) Disagree

e) Strongly disagree

10 Have you been promoted at work in the last six months

a) Yes

b) No

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) Neutral

12 Rank the following factors which motivates you the most

(Rank 1 2 3 4hellip respectively)

No Factors Rank1 Salary increase 2 Promotion3 Leave4 Motivational talks5 `reorganization

13 Have you been nominated for training amp development programmes for the last

6 months

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature

Age

Sex

Designation

DepartmentBranch

Marital status

Salary

1 Which Type Of Incentives Motivate You More

a) Monetary Incentives

b) Non- Financial Incentives

c) Both

2 What factor de-motivates you at work place

a) Job profile

b) Company policy

c) Work environment

3How far you are satisfied with the incentives provided by the organisation

a) Highly satisfied

b) satisfied

c) neutral

4 Does your job improve your skills and abilities

a) Yes

b) No

c) Never

5 Do you think that the incentives and other benefits will influence your

performance

a) Influence

b) Does not influence

c) No opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

7 Does the management involve you in the decision making which are connected

to your department

a) Yes

b) No

c) Occasionally

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

9 Are you encouraged to come up with new and better ways of doing

things

a) Strongly agree

b) Agree

c) Neutral

d) Disagree

e) Strongly disagree

10 Have you been promoted at work in the last six months

a) Yes

b) No

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) Neutral

12 Rank the following factors which motivates you the most

(Rank 1 2 3 4hellip respectively)

No Factors Rank1 Salary increase 2 Promotion3 Leave4 Motivational talks5 `reorganization

13 Have you been nominated for training amp development programmes for the last

6 months

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature

b) satisfied

c) neutral

4 Does your job improve your skills and abilities

a) Yes

b) No

c) Never

5 Do you think that the incentives and other benefits will influence your

performance

a) Influence

b) Does not influence

c) No opinion

6 Management is really interested in motivating the employees

a) Agree

b) Disagree

c) Neutral

7 Does the management involve you in the decision making which are connected

to your department

a) Yes

b) No

c) Occasionally

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

9 Are you encouraged to come up with new and better ways of doing

things

a) Strongly agree

b) Agree

c) Neutral

d) Disagree

e) Strongly disagree

10 Have you been promoted at work in the last six months

a) Yes

b) No

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) Neutral

12 Rank the following factors which motivates you the most

(Rank 1 2 3 4hellip respectively)

No Factors Rank1 Salary increase 2 Promotion3 Leave4 Motivational talks5 `reorganization

13 Have you been nominated for training amp development programmes for the last

6 months

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature

7 Does the management involve you in the decision making which are connected

to your department

a) Yes

b) No

c) Occasionally

8 Do you enthusiastic about your work

a) Always

b) Sometimes

c) Never

9 Are you encouraged to come up with new and better ways of doing

things

a) Strongly agree

b) Agree

c) Neutral

d) Disagree

e) Strongly disagree

10 Have you been promoted at work in the last six months

a) Yes

b) No

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) Neutral

12 Rank the following factors which motivates you the most

(Rank 1 2 3 4hellip respectively)

No Factors Rank1 Salary increase 2 Promotion3 Leave4 Motivational talks5 `reorganization

13 Have you been nominated for training amp development programmes for the last

6 months

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature

10 Have you been promoted at work in the last six months

a) Yes

b) No

11 Are you adequately recognized for your good work

a) Agree

b) Disagree

c) Neutral

12 Rank the following factors which motivates you the most

(Rank 1 2 3 4hellip respectively)

No Factors Rank1 Salary increase 2 Promotion3 Leave4 Motivational talks5 `reorganization

13 Have you been nominated for training amp development programmes for the last

6 months

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature

a) Yes

b) No

14 Does the management provide continuous feed back in solving work

related problems

a) Strongly Agree

b) Agree

c) Neutral

d) Disagree

e) Strongly Disagree

15 Overall are you satisfied with your job

a) Yes

b) No

Thank Youhelliphelliphellip

Signature