EXECUTIVE SUMMARY

Motivation in simple terms may be understood as the set of forces that cause
people to behave in certain ways. A motivated employee generally is more
quality oriented. Highly motivated worker are more productive than apathetic
worker one reason why motivation is a difficult task is that the workforce
is changing. Employees join organizations with different needs and expectations.
Their values, beliefs, background, lifestyles, perceptions and attitudes are
different. Not many organizations have understood these and not many HR
experts are clear about the ways of motivating such diverse work force. Now
days employees have been hired, trained and remunerated they need to be
motivated for better performance. Motivation in simple terms may be understood
as the set or forces that cause people to behave certain ways. People are
motivated rewards something they can relate to and something they can believe
in. Times have changed People wants more. Motivated employees are always
looking for better ways to do a job. It is the responsibility of managers to make
employees look for better ways of doing their jobs. Individuals differ not only in
their ability to do but also in their will to do, or motivation Managers who are
successful in motivating employees are often providing an environment in
which appropriate goals are available for needs satisfaction. Retaining and
motivating workers requires special attention and the responsibility falls squarely
on the shoulders of HR as well as managers and supervisors at all level. They
have to create a work environment where people enjoy what they do, feel like
they have a purpose and have pride in the mission of the organization. It requires
more time, more skill, and managers who care about people. It takes true
leadership. By giving employees special tasks, you make them feel more
1
important. When your employees feel like they are being trusted with added
responsibilities, they are motivated to work even harder so they wont let the
company down. Motivation is essential for any company because employee is
Asset of company. Motivation is important for the growth of employees as well as
growth of the organization.

2
 INTRODUCTION

HDFC Life, one of India's leading private life insurance companies, offers a range
of individual and group insurance solutions. It is a joint venture between Housing
Development Finance Corporation Limited (HDFC), India's leading housing
finance institution and Standard Life plc, the leading provider of financial services
in the United Kingdom.

HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds
26.00% of equity in the joint venture, while the rest is held by others.

HDFC Life's product portfolio comprises solutions, which meet various customer
needs such as Protection, Pension, Savings, Investment and Health. Customers
have the added advantage of customizing the plans, by adding optional benefits
called riders, at a nominal price. The company currently has 25 retail and 9 group
products in its portfolio, along with 10 optional rider benefits catering to the
savings, investment, protection and retirement needs of customers.

HDFC Life continues to have one of the widest reaches among new insurance
companies with about 500 branches in India touching customers in over 900
cities and towns.The company has also established a liaison office in Dubai.
HDFC Life has a strong presence in its existing markets with a strong base of
Financial Consultants.

3
OUR PERENTAGE
About HDFC Ltd.

HDFC Ltd. is Indias premier housing finance company and a well - established
financial conglomerate. It has assisted more than 40 Lakh customers in acquiring
their own home through cumulative housing loan disbursements of over Rs.
4,25,000 crore. With a wide network of 326 offices, it caters to 2,400 towns and
cities across India. HDFC Ltd has International offices in London, Dubai and
Singapore with service associates in Kuwait, Oman, Qatar, Sharjah, Abu Dhabi
and Saudi Arabia Al Khobar, Jeddah and Riyadh to cater to non-resident
Indians and PIOs.

Customer Service and satisfaction has been the mainstay of the organization
since its inception, with HDFC setting a benchmark for the Indian housing finance
industry. Recognition for the service to the sector has come from several national
and international entities including the World Bank that has lauded HDFC as a
model housing finance company for the developing countries. HDFC has
undertaken a lot of consultancies abroad for setting up of housing finance
companies - assisting different countries including Sri Lanka, Indonesia, Bhutan,
Nepal, Ghana, Thailand, Philippines, Egypt, Maldives, Mauritius, Bangladesh,
Jamaica and Russia among other countries.

Standard Life

Established in 1825, Standard Life is a leading provider of long term savings and
investments to around 6 million customers worldwide. Headquartered in
Edinburgh, Standard Life has around 8,500 employees internationally.

4
The Standard Life group includes savings and investments businesses, which
operate across the UK, Canada, Europe, Asia and Middle East; workplace
pensions and benefits businesses in the UK and Canada; Standard Life
Investments, a global investment manager, which manages 167bn globally; and
its Chinese and Indian Joint Venture businesses. At the end of December 2012
the Group had total assets under administration of over 218bn.

Standard Life plc is listed on the London Stock Exchange and has approximately
1.5 million individual shareholders in over 50 countries around the world. It is also
listed in the Dow Jones Sustainability World Index, ranking it among the top 10%
of sustainable companies in the world.

5
 COMPANY PROFILE

Gorakhpur Road
1402 BG's Complex
2nd Floor Pin Code: 482001

OUR VISION & VALUES

Our Vision

'The most successful and admired life insurance company, which means that we
are the most trusted company, the easiest to deal with, offer the best value for
money, and set the standards in the industry'.

'The most obvious choice for all'.

Our Values

Values that we observe while we work:

Integrity

Innovation

Customer centric

People Care "One for all and all for one"

Team work

Joy and Simplicity

6
AWARDS

HDFC Life recognized as Celent Model Insurer of Asia for

the Year 2013

HDFC Life has been recognized as the Celent Model

Insurer of Asia for 2013, the highest honor among the 17
technology initiatives which are selected as Model Insurer Component in the Asia
Pacific region. The company has also received two Model Insurer Component
awards namely Model Insurer Award in the area of Underwriting and the other in
Distribution/New Business.

HDFC Life Smart Woman Plan voted as 'Product of the Year 2013'

HDFC Life Smart Woman Plan has been voted

as 'Product of the Year 2013' under Life
Insurance Category. The innovative features of
HDFC Life Smart Woman Plan (first ULIP in
India specially designed for women to take care
of her critical life stage needs - motherhood,
diseases that women are prone to certain ages as cancer or loss of spouse)
helped us to win this prestigious award.

Golden Peacock Awards 2012

7
 HDFC Life has emerged as the winner of the Golden
Peacock Innovative Product / Service Award for the
year 2012 (for Click 2 Buy). Golden Peacock Awards,
instituted by Institute of Directors in 1991, are now
regarded as Holy Grail of Corporate Excellence
Worldwide. CIO100 Symposium & Awards Ceremony
2012

Websense, in Association with CIO, hosted the

CIO100 Symposium & Awards Ceremony. We were
awarded the Security Supremo Special Awards for
bridging gaps in compliance and security by creating
an effective integrated framework.

Top 25 India's Best Companies to Work

HDFC Life was ranked amongst the Top 25 India's Best

Companies to Work. This was Among The Best Companies In
Large Organizations With More Than 10,000 Employees. The Best
Companies to Work in India is a study conducted by the Great
Place to Work Institute, India in partnership with The Economic Times.

Annual Indian Insurance Awards 2012

HDFC Life was been awarded The Indian Insurance award for best product
innovation. We received recognition for our product offering called Sampoorn
Samriddhi. Asia Insurance Review, part of SP Media, presented the annual
Indian Insurance Awards 2012 to honor performance and commitment of top
Indian insurance companies.

8
 HRD Congress 2012

Mr Amitabh Chaudhry was awarded Thought

Leader Award in the Insurance sector at the
World HRD Congress 2012. World HRD
Congress felicitates change leaders in the industry.

Top 100 CISOs

HDFC Lifes Chief Information Security Officer (CISO) -

Sharad Sadadekar, was recognized amongst the Top 100
CISOs, for implementing one of the best Information
Security practices amongst Indian companies.

Best Prax 2012

HDFC Life was adjudged a winner at

BestPrax Benchmark 2012 for
Assessment of Integrated Reality and
Risk (AIRr), Scenario Planning and
GOAL (Go Online And Learn).

Asias Best CIO Awards

HDFC Life received an award for leveraging

IT for Business Performance, at The Asias
Best CIO Awards for Leadership &
Innovation organised by CMO Asia.The Asias Best CIO Awards for Leadership &
Innovation provide the foundation for the IT Industry to showcase and celebrate
Innovation and Leadership.

9
Asia Best Employer Brand Awards 2012

HDFC Life received an award for Talent

Management at the 3rd Asia Best Employer
Brand Awards 2012. Our MD & CEO, Mr.
Amitabh Chaudhry also received an award
in the category of CEO with HR orientation.

10
 BOARD OF DIRECTORS
Mr. Deepak S. Parekh is the Chairman of the Company. He is also
the Chairman and Director of Housing Development Finance
Corporation Limited (HDFC Limited). He joined HDFC Limited in a
senior management position in 1978. He was inducted as a whole-
time director of HDFC Limited in 1985 and was appointed as its Chairman in
1993. Mr. Parekh is a Fellow of the Institute of Chartered Accountants (England
& Wales).

Mr. Gerald E. Grimstone was appointed Chairman of Standard

Life in May 2007, having been Deputy Chairman since March 2006.
He became a director of the Standard Life Assurance Company in
July 2003. He is also Chairman of Candover Investments plc and
was appointed as one of the UKs Business Ambassadors by the
Prime Minister in January 2009. Gerry held senior positions within the
Department of Health and Social Security and HM Treasury until 1986. He then
spent 13 years with Schroders in London, Hong Kong and New York, and was
Vice Chairman of Schroders worldwide investment banking activities from 1998
to 1999. He is appointed as Director of the Company from April 1, 2013. He has
completed Master of Arts, Master of Science in Chemistry, Merton College,
Oxford University and NATO-CCMS Fellowship Wolfson College, Oxford
University.

11
 Mr. Keki M. Mistry joined the Board of Directors of the Company in
December, 2000. He is currently the Vice Chairman and Chief
Executive Officer of HDFC Limited. He joined HDFC Limited in
1981 and became an Executive Director in 1993. He was
appointed as its Managing Director in 2000. Mr. Mistry is a Fellow of the Institute
of Chartered Accountants of India and a member of the Michigan Association of
Certified Public Accountants.

Ms. Renu S. Karnad is the Managing Director of HDFC Limited.

She is a graduate in Law and holds a Master's degree in
Economics from Delhi University. She has been employed with
HDFC Limited since 1978 and was appointed as the Executive
Director in 2000 and Deputy Managing Director in 2007. She is responsible for
overseeing all aspects of lending operations of HDFC Limited.

Mr. David Nish joined Standard Life on 1st November 2006 as

Group Finance Director and remained in that position until
December 2009. He is the Chief Executive at Standard Life Plc. In
2000 he was awarded the Scottish Business Awards Finance
Director of the Year and from 2004 to 2005 he served on the Government
Employers Pension Task Force. He is a member of the Institute of Chartered
Accountants of Scotland. He joined the Board of Directors in February 2010.

12
 Mr. Nathan Parnaby is appointed as the Chief Executive, Europe
& Asia of Standard Life in the year 2010. Nathan joined Standard
Life in 1982 as Investment Manager, responsible for all UK net
funds. He was appointed a Director of the Standard Life
Investments board. He is a Mathematics graduate from Oxford University and
the Member of the Securities Institute. He joined the Board of Directors in
December 2009.

Mr. Norman K. Skeoch is currently the Chief Executive in

Standard Life Investments Limited and is responsible for
overseeing Investment Process & Chief Executive Officer Function.
Prior to this, Mr. Skeoch was working with M/s. James Capel & Co.
holding the positions of UK Economist, Chief Economist, Executive Director,
Director of Controls and Strategy HSBS Securities and Managing Director
International Equities. He was also responsible for Economic and Investment
Strategy research produced on a worldwide basis. Mr. Skeoch joined the Board
of Directors in November 2005. Mr. Skeoch is a Fellow of the Securities Institute,
Fellow of the Royal Institute for the Encouragement of the Arts, Manufacture and
Commerce, BA, MA.

13
ASSOCIATE COMPANIES

HDFC Limited

HDFC Bank

HDFC Mutual Fund

HDFC Sales

HDFC ERGO General Insurance

HDB Financial Services

HDFC Securities

HDFC RED

14
 DFC Life has always believed that establishing a strong and ethical
foundation is an essential prerequisite for long-term sustainable growth. We
focus on maintaining the quality of our business and creation of long-term
value for policy holders and stakeholders. For us, Corporate Responsibility
comes first. We also believe that business must go hand in hand with a
sense of responsibility towards all stakeholders including employees and
the society.
Swabhimaan, HFDFC Lifes Corporate Social Responsibility (CSR)
initiative- aims to play a positive role by contributing towards the
advancement of society and conservation of environment while engaging
with our stakeholders. The objective of Swabhimaan is to contribute to
improve and enhance the quality of life of communities in which the
company operates thereby helping to create an equitable society.
HDFC Life is committed to being a socially responsible corporate and its
CSR is not only governed by a formal policy and framework but also, all
causes/projects are supported by active involvement from employees.
HDFC Life CSR framework

15
 In keeping with the HDFC Life way of giving back to the society, in the
past few years, we have contributed our bit to the society. Major CSR
Projects & Initiatives undertaken in the last three years:
People
Children Education Project- Navjeevan Hindi Medium School,
Turbhe, Mumbai- HDFC Life partnered with United Way of Mumbai &
Aarambh to support 500 municipal school children at Turbhe, Maharashtra.
The objective of the project is to support underprivileged children to
continue formal education and aid their holistic development. The project
was launched in January 2012 and provides remedial classes, Computer
classes, Life skills (Personality development, vocational counseling)
sessions to the children studying in Grade 5 to 10.
Children Education Project- Saibaba Path Public School, Parel,
Mumbai- HDFC Life believes in every childs right to quality education and
has therefore took up a project with Educo based in Mumbai. Educo, a
registered non-governmental organization (NGO) aims to provide quality
school education to impoverished children. HDFC Life and Educo believe
that good quality structured education provides for better future career
prospects for these children and would help them break the cycle of
poverty and improve the life of the community at large. Through this project
HDFC Life and its employees support 180 children in the Saibaba Path
Mumbai Public School based in Lalbaugh.
Teach for India- HDFC Life has been partnering with Teach for India
non profit organization engaged in supporting education for underprivileged
children, by sponsoring two employees each for the 2010-12 and 2012-14
Fellowships. Teach for India Fellowship is a two-year paid assignment
during which Fellows are placed as full-time teachers in low income English
16
 Medium schools. HDFC Life will sponsor two employees for the 2013-15
Fellowship and will continue its commitment to tackle one of Indias most
pressing issue-Education Inequality.
Payroll Giving- Employees are encouraged to give a small part of their
salary to establish their own charity account through the Payroll Giving
program implemented in partnership with GiveIndia, an organization
dedicated to helping individuals donate to credible NGOs. Through this
programme, employees create a strong impact in the lives of the
underprivileged through small yet effective giving. Every employee, after
making a donation, also receives a feedback on how the donation has been
utilized. HDFC Life has been successfully running the programme with an
exponential increase in the number of enrolments since 2008 and till date,
has effectively channelized Rs.56.81 lakhs worth of donations.
Mumbai Marathon- As a part of CSR initiative, HDFC Life has been
participating in the Mumbai Marathon to run for a cause since 2009. In
2013, HDFC Life partnered with the Non- profit-SAMPARC, a team of 15
employees ran the Half Marathon & Dream Run to support education for
lesser privileged children. In 2012 and 2011, HDFC Life supported the
NGOs Educo and Make a Wish foundation respectively.
Swabhimaan Calendar Activities- The Swabhimaan calendar activities
are driven by 45 Swabhimaan Champions and their core teams in their
respective regions. The objective is to instill and encourage social giving
amongst employees and other stakeholders. CSR activities on local level
like Old age home visit, Blood donation camps, Clothes collection drives,
Woolen clothes donation drive, Aadhar (UIN) melas, Fundraisers for
charity, etc. were organized pan India.

17
 Joy of Giving Week- The India Giving Challenge, one of the events
initiated by GiveIndia during the Joy of Giving Week is a country wide
initiative which aims to engage every single Indian in giving back to society
in a way that she or he chooses. HDFC Life has been participating in the
challenge since 2010 and collectively raised funds for NGOs like the
Akshaya Patra Foundation, Akanksha Foundation and National Society for
Equal Opportunities for the Handicapped by involving employees through
different activities.
PLANET
Under environmental CSR initiatives HDFC Life has taken the charity
begins at home approach across all the offices; pan India. Some of steps
undertaken since 2010 are:
Internal campaign to save water, power and paper wastages on war
footing level
Setting usage hours of Air conditioners
Complete prohibition of paper cups
Printing of papers on both the sides as default setting
Hibernation of Desktops post 15 minutes of non usage
Encouraging employees to have environment friendly celebrations and
festivities

18
 Tree plantation
As part of offsetting the paper which would be used for printing the Policy
documents for the year 2012-13, HDFC Life partnered with the Non Profit;
Plant a Tree Today to plant 1500 saplings in Mumbai in August 2012. The
saplings have been planted on a third party land and are maintained by
them. HDFC Life and PATT regularly monitor the growth of the saplings.
INCLUSIVE PROGRESS
Financial Literacy project
HDFC Life has been implementing the Financial Literacy Project since
2011. The project was piloted in 2011 in partnership with Yuva
Unstoppable across 25 municipal schools in Gujarat (Ahmedabad, Baroda
& Surat). Yuva Unstoppable is a youth volunteer movement. The objective
of the financial literacy project is to educate and equip children (from grade
5 to 8) with financial knowledge that would help them manage their
finances/money in an effective manner. A financial literacy module has
been created by HDFC Life.
The second phase of the Program was launched in 2012 in Municipal
schools across Gujarat, MP, Rajasthan, Maharashtra, Karnataka, Andhra
Pradesh, Tamil Nadu and Uttar Pradesh. Sessions with the children are
conducted by trained HDFC Life employees and other volunteers. HDFC
Life has educated more than 10,000 children through this project since
2011.
Achievements
Won the 2nd Best Marketing Campaign awards during the India Giving
Challenge 2012
Won the 2nd Best Marketing Campaign and 2nd Most Innovative
Fundraising Campaign awards during the India Giving Challenge 2011
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 HDFC Life was awarded the Yuva Hero Award in July 2011 for
contribution towards the upliftment of lesser privileged children
Won the Most innovative fundraising campaign award during the India
Giving Challenge 2010
HDFC Life was awarded with Yuva Unstoppable Corporate Icon Award
from Dr. APJ Kalam in Sept2010.

20
 TOPIC DESCRIPTION
AT HDFC LIFE

HDCF LIFE has a large workforce, comprising experts in various disciplines assisted by
a dedicated workforce of skilled persons. HDCF LIFE employees, referred to as the
HDCF LIFE, come from all parts of the country and belonging to a variety of ethnic,
cultural and religious backgrounds. HDCF LIFE employees display a strong sense of
loyalty to the Company and their special stellar qualities as value-adding human capital
are well known in the industry.

HDCF LIFE has clearly stated guidelines concerning recruitment, termination, career
advancement, performance appraisal, professional and employee ethics and code of
conduct. The Companys personnel policies and processes enshrine equal opportunities to
all and non-discrimination with regard to gender, caste, creed, ideology or other opinion,
whether social, political or religious. Also ensured is a due process for employee
consultation and participation in organizational development and policy formulation.

Performance Management

The Companys performance management system is in itself a benchmark that provides

ample opportunities and motivational incentives to employees so as to reward and retain
good talent within the Company. These incentives include Performance Linked
Incentives, Good Work Awards, Letters of Appreciation, Special Increments,
Promotions, Nomination to external training programmes in India and abroad, public
felicitation and appreciation. Some Branches have Best Employee and Employee of the
Month Awards and recognition. Competent employees and those who display aptitude
are invited to become Trainers themselves and receive Train the Trainer facilitation.

21
Training & Development

Our new Performance Management System incorporates a process called

Competency Assessment and Training and Developmental Needs wherein appraisers are
specifically called upon to identify and assess training needs of employees at specific
intervals that do not coincide with Performance Appraisals. This is so that training needs
can be assessed objectively. Training is imparted to take care of an individuals career
development as well as functional and skill enhancement. Competency and Development
training inputs include Skill and general performance enhancement, communication skills
and Career development. Functional training needs are identified and conducted by
functional departments while Corporate HR organizes competency and developmental
inputs.

Employee welfare & perquisites

Employee welfare receives prime attention at HDCF LIFE. We have several schemes for
general welfare of employees and their families. These cover education, healthcare,
retirement benefits, loans and financial assistance and recreation facilities.

HDCF LIFE townships have excellent schools that are often the best in the district.
Education at these schools is subsidized for employees wards. We offer attractive
scholarship allowances for children studying at places away from their parents, merit
scholarships for outstanding children and financial assistance for employees children to
pursue higher professional education.

Liberal medical benefits are made available to employees and their family members by
way of reimbursements towards normal medical treatment, domiciliary treatments and
special sanctions for serious illness. Each of our townships has well-equipped health care
centers with qualified medical staff and facilities, ambulance, referrals and tie-ups with
reputed hospitals for specialized treatment. In addition, there are regular health checkups,
camps and programmers.

22
 INTRODUCTION OF TOPIC
In the organizational setting the word Motivation is used to describe the drive
that impels an individual to work. A truly motivated person is one who wants to work
.Both employees and employers are interested in understanding motivation if employees
know what strengthens and what weakens their motivation, they can often perform more
effectively to find more satisfaction in their job. Employers want to know what motivates
their employees so that they can get them to work harder.
When people speak of motivation or ask about the motives of person, they are really
asking Why the person acts, or why the person acts the way he does .The concept of
motivation implies that people choose the path of action they follow.
When behavioral scientists use the word motivation, they think of its something steaming
from within the person technically, the term motivation has its origin in the Latin word
mover which means to move. Thus the word motivation stands for movement. One
can get a donkey to move by using a carrot or a stick; with people one can use incentives,
or threats or reprimands. However, these only have a limited effect. These work for a
while and then need to be repeated, increased or reinforced to secure further movement.

If a manager truly understands his subordinates motivation, he can channel their

inner state towards command goals, i.e., goals, shared by both the individual and the
organization. It is a well known fact that human being have great potential but they do
not use it fully , when motivation is absent .Motivation factor are those which make
people work and that is usually only about sixty-five percent of a persons capacity.

Definition of Motivation:

1st Definition of Motivation : According to Michael J. Jacius ; Motivation is the act of

stimulating someone or oneself to get a desired course of action or to push the right
button to get a desired reaction.

23
2nd Definition of Motivation: According to Dalton E. McFarland, "The concept of
motivation is mainly psychological. It related to those forces are many and keep on
changing with time motives are invisible and directed towards certain goals.

Techniques of Motivation

The main techniques of motivation are as under:

Positive and negative motivation.

Financial and Non-financial motivation.

Individual and group motivation.

Extrinsic and Intrinsic motivation.

STUDY OF EMPLOYEE MOTIVATION

What is motivation?
A basic principle is that the performance of an individual depends on his or her ability
backed by motivation. Stated algebraically the principle is:
Performance =f (ability motivation)
Ability refers to the skill and competence of the person to complete a given task.
However, ability alone is not enough. The persons desire to accomplish the task is also
necessary. Organizations become successful when employees have abilities and desire to
accomplish given task.
Motivation in simple terms may be understood as the set of forces that cause people to
behave in certain ways.

24
 IDENTIFIES NEEDS

SEARCHES FOR WAYS TO SATISFY NEEDS

ENGAGES IN GOAL DIRECTED BEHAVIOR

REASSESS NEEDS DEFICIENCIES

RECEIVES EITHER REWARDS OR PUNISHMENT

PERFORMS

FRAMEWORK OF MOTIVATION
The framework comprises six steps. (step1): Motivation process begins with the individuals
needs. Needs are tilt deprivations which the individual experiences at a given time and act as energizers.
These needs may be psychological (e.g., the needs for recognition), physiological (e.g., the needs for
water, air or foods) or social (e.g., the needs for friendship).
(step2) : Motivation is goal directed.
(step3) : A goal is a specific result that the individual wants to achieve .An employees
goal are often driving forces and accomplishing those goals can significantly reduce
needs.
(step4) : Promotions and raises are two of the ways that organizations seek to maintain
desirable behavior. They are signals to employees that their needs for advancement and
recognition and their behaviors are appropriate.
(step5) : The Employee has received either rewards or punishments.
(step6) : They reassess their needs.

25
 Workers in any organization need something to keep them working. Most times the
salary of the employee is enough to keep him or her working for an organization.
However, sometimes just working for salary is not enough for employees to stay at an
organization. An employee must be motivated to work for a company or organization. If
no motivation is present in an employee, then that employees quality of work or all work
in general will deteriorate. Keeping an employee working at full potential is the ultimate
goal of employee motivation. There are many methods to help keep employees
motivated. Some traditional ways or motivating workers are placing them in competition
with each other. Friendly competition is a great way to generate motivation among
employees. This gives a chance for employees to flex their working skills in a
competition against their peers. This not only will motivate employees with a result of
greater production. But the competition with recorded results will give the employer and
idea of who is being most productive.

26
 OBJECTIVES OF THE STUDY
1) The purpose of motivation is to create condition in which people are willing to

work with zeal, initiative. Interest, and enthusiasm, with a high personal and group

moral. Satisfaction with a sense of responsibility.

2) To increase loyalty against company.

3) For improve discipline and with pride and confidence in cohesive manner so that

the goal of an organization are achieved effectively.

4) Motivation techniques utilized to stimulate employee growth.

5) For the motivation you can buy mans time. Physical presence at a given place.

6) You can even buy a measured number of skilled muscular motions per hour or day.

7) Performance results from the interaction of physical, financial and human resource.

8) For achieve a desire rate of production.

27
 RESEARCH METHODOLOGY
RESEARCH DESIGN:
Research Design refers to "framework or plan for a study that guides the collection and
analysis of data". A typical research design of a company basically tries to resolve the
following issues:
a) Determining Data Collection Design
b) Determining Data Methods
c) Determining Data Sources
d) Determining Primary Data Collection Methods
e) Developing Questionnaires
f) Determining Sampling Plan
(1) Explorative Research Design:
Explorative studies are undertaken with a view to know more about the problem. These
studies help in a proper definition of the problem, and development of specific hypothesis is
to be tested later by more conclusive research designs. Its basic purpose is to identify factors
underlying a problem and to determine which one of them need to be further researched by
using rigorous conclusive research designs.
(2) Conclusive Research Design:
Conclusive Research Studies are more formal in nature and are conducted with a view to
eliciting more precise information for purpose of making marketing decisions.
These studies can be either:
a) Descriptive or
b) Experimental
Thus, it was mix of both the tools of Research Design that is, Explorative as well as
Conclusive.

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SAMPLING PLAN:
Sample Size = 50 Employees
Sample Area =HDFC, M.P., JABALPUR

DATA COLLECTION:
Data Sources:
(i) Secondary Data through Internet
(ii) Primary Data through Questionnaire
(iii) Contact Method
(iv) Personal Interaction
DATA PRESENTATION AND ANALYSIS:
1. Bar graphs
2. Pie Diagrams
3. Doughnuts
FINDINGS AND ANALYSIS
Employees Opinion as to the Purpose of Employee Motivation
Performance standards / yardsticks

29
 DATA ANALYSIS AND INTERPRETATION

1. Are you satisfied with the support from the HR department?

1. Highly satisfied 62 2. Satisfied Neutral 28

3. Dissatisfied 5 4. Highly Dissatisfied 3

Highly
satisfied
7% 3%
Satisfied
Neutral
28%
62% Dissatisfied

Highly
Dissatisfied

Interpretation : In the above analysis it was found that 62% of the respondent
were satisfied with the HR department where as 28% were neutral satisfied and
5% didnt agreed that they are satisfied and 3% are highly dissatisfied with the
HR department.

30
2. Management is really interested in motivating the employees?

Highly
satisfied
11%
12% Satisfied
Neutral
17% 60% Dissatisfied

Highly
Dissatisfied

Interpretation : Above graph represents satisfaction in regards with the

motivation of the employee by the management and 72% of employees where
highly satisfied and 12% were just satisfied where as 6% dissatisfied with it and
10% strongly dissatisfied with it.

31
3. Which type of incentives motivates you more?

Financial incentives Non-financial incentives Both

63 23 14

Financial
incentives
14%
23% Non-financial
incentives
63%

Both

Interpretation : with the above analysis it is clearly seen that 63% of employees
like cash incentives and 23& like no financial incentives where as 14% like both
type of incentives.

32
4. How far you are satisfied with the incentives provided by the organization?
Highly Satisfied Highly
satisfied Neutral Dissatisfied Dissatisfied
60 17 12 11

Highly
satisfied
11%
12% Satisfied
Neutral
17% 60% Dissatisfied

Highly
Dissatisfied

Interpretation : With the help of above data it is clearly seen that 60% of
employees were highly satisfied with the incentives plans of the company and
17% found just satisfied 12% were not satisfied and 11% were highly dissatisfied
with the incentive plans.

33
5. Do you think that the incentives and other benefits will influence your
performance?

Influence does not influence No opinion

90 6 4

100
90
80
70
60 Influence
50 does not influence
40
No opinion
30
20
10
0
Influence does not No opinion
influence

Interpretation : with above analysis it could clearly be seen that 90% of

respondents agrees that incentives and other benefits will influence employees
performance where as 6% denied with it and 4% were speechless with no
opinion.

34
6. Respondent's Classification According to the Employee Motivation

Are you motivated by

No. of Respondents Percentage
the officers

Yes 30 60

No 20 40

60
60

50
40
40
30 Yes
30 No
20
20

10

0
No. of Respondents Percentage

Interpretation: Table shows that 30 respondents view that they are motivated by the officers and 20
respondent are not.

35
7. Respondent's Classification According to the opportunity for expressing their
views

Do you get the opportunity to express

No. of Respondents Percentage
your view in the company

Yes 25 50

No 25 50

50 50
50
45
40
35
30 25 25 Yes
25 No
20
15
10
5
0
No. of Respondents Percentage

Interpretation: Table shows that 50% respondents are of the opinion that they gets the opportunity to
express their views and rest of 50 are not able express their views.

36
8. Respondent's Classification According to the Types of Feeling with organization

What type of feeling you have

No. of Respondents Percentage
by working on HDFC

Satisfied 34 67

Unsatisfied 16 33

67
70

60

50

40 34 33 Satisfied
Unsatisfied
30
16
20

10

0
No. of Respondents Percentage

Interpretation: Table shows that 34 of the respondents are of the opinion that they are satisfied with the
organization and 16 are unsatisfied.

37
9. Respondent's Classification According to the job satisfaction about company
management

Are you satisfied with your

No. of Respondents Percentage
company management

Completely 35 70

Partially 15 30

70
70

60

50
35 Completely
40
30
Partially
30
15
20

10

0
No. of Respondents Percentage

Interpretation: Table shows that 70% respondents are completely satisfied about company
management and 30% of respondents are partially satisfied with the company.

38
10. Respondent's Classification According to the satisfaction with regard to working
conditions

Are you satisfied with the

working conditions on No. of Respondents Percentage
K.B.E.C

Completely 45 90

Partially 5 10

90
90
80
70
60
45 Completely
50
40 Partially

30
20 10
5
10
0
No. of Respondents Percentage

Interpretation: Table shows that 90% respondents opinion that they are completely satisfied with the
working conditions and 10% of the opinion that they are partially satisfied

39
 RESULT ANALYSIS

It is astounding how much "data" can be created by a survey. Each scale question has
multiple possible answers, each of which must be reported along with each item's average
score; there are results for various subgroups, and there is statistical analysis. The data
must first be packaged into information (via proper presentation of tables, graphs, and
statistical analysis). Then, it must be properly interpreted. Different analysts may take
different approaches. Here is one approach.

1. Analysis of Strengths and Weaknesses. In this step, we look at the intra-survey

strengths and weaknesses, i.e., how the items in the survey compare to each other,
and the extra-survey strengths and weaknesses, i.e., how the results compare to
other results from similar surveys (norms). This can be done on the attribute
(individual question) level as well as on the section (groups of questions) level.

2. Look for Patterns. Typically, common themes will emerge. For example, it is
common to find problems in inter-departmental communication when teamwork
scores are low. These patterns give clues to the underlying circumstances in
existence at the organization.

3. Leverage Analysis. Limited company resources require companies to be able to

quickly identify those areas that are most important (leverage able) to its
employees. Leverage analysis provides a way of selecting areas to focus on, by
calculating each area's leverage on a "bottom line" measure - overall satisfaction.
The high-priority targets identified by quadrant analysis (see chart below) are those
areas which meet two criteria:

40
 4. Comment Analysis. Simply reading comments can give one a flavor for the types
of issues on employees' minds. However, proper interpretation becomes difficult, if
not impossible, for two reasons.

The reader may have pre-conceived notions about what the comments will say, and
may tend to give more weight to comments that mirror his/her point of view.

The shear number of comments can be overwhelming, as scores, hundreds, or

thousands of pages of comments may exist.

The solution is to "code" comments. This is done by reading all or a large sample
of comments, and creating categories into which comments seem to fall. Each comment
must then be read and "coded;" that is, placed into one or more categories. At the end of
the day, this yields a table of results showing how prevalent are comments of various
types.

Usually, the items identified in the leverage analysis also will show up in the
comments. However, it is not uncommon to find one or two other items rising to the top
in the comment analysis.

Sub-group Comparisons. In some cases, most or all subgroups will feel the same about
a matter. In others, there will be large differences in how sub-groups (e.g., departments,
people of different tenures) feel. We have seen instances where a large sub-group is
almost completely responsible for a low score for an entire company. Without an analysis
of sub-groups, corrective action may not be as effective, since targeted action will be
necessary in certain cases.

41
 Summarize Findings. In this stage, the analyst wraps up what has been found.
The end result is recommendations of key items and areas to target for
improvement on an overall organization level and at the sub-group level.

Recommendations. At this stage, the analyst recommends actions to take to

address the items targeted for improvement. Further discussions with the client,
before and after this phase, often are necessary.

42
 FINDINGS

Workers participation in management ensures optimum use of available human

resources.

1. It is useful both for organization and nation.

2. It generates facilities to educate people in the organization.

3. It brings about fast economic developments.

4. It boosts the geographical mobility of labor.

5. It provides smooth working even after expansion of the organization.

6. It opens possibility for workers for future promotions, thus providing incentive.

7. It creates healthy atmosphere of encouragement and motivation in the organization.

8. Training becomes effective.

9. It provides help for career development of the employees.

43
 LIMITATIONS
Limitations of the research are as follows :

Motivation Abstract :

Motivation is abstract and it is very difficult to measure motivation because it can only be
felt. As it cannot be touched there is no standardized data on motivation.

Lack of Education Among the workers :

Most of the workers are not educated as a result they become suspicious of the filling of
these questionnaire.

Difficulty in Filling :

A large number of the respondents needed help in filling these questionnaire.

Lack of Seriousness :

Some of the workers did not attach the required seriousness to the investigator.

44
 CONCLUSION
Motivation is an important concept that has been receiving considerable attention
from academicians, researchers and practicing HR managers. In its essence,
motivation comprises important elements such as the need or content, search and
choice of strategies, goal-directed behavior, social comparison of rewards
reinforcement, and performance-satisfaction. Motivated employees come out with
new ways of doing jobs. They are quality oriented.

Several approaches to motivation are available. Early theories are too simplistic in
their approach towards motivation. For example, advocates of scientific
Management believe that money is the motivating factor. The Human Relations
Movement posits that social contacts will motivate workers.

Mere knowledge about the theories of motivation will not help manager their
subordinates. They need to have certain techniques that help them change the
behavior of employees .One such technique is reward. Reward, particularly
money, is a motivator according to need-based and process theories of motivation.
For the behavioral scientists, however, money is not important as a motivator.
Whatever may be the arguments, it can be stated that money can influence some
people in certain circumstance.

45
 RECOMMENDATION & SUGGESTIONS
Motivation is essential for each and every organization because its helps in avoiding
the frustration and it also create the healthy work environment. This concern for, and
investment in, future scenarios will ingrain unshakable trust and loyalty towards the
company. The word motivation stands for movement. Every manager should have both
interest and concern about how to enable people to perform task willingly and to the
best of their ability. Motivation is essential for any company because employee is
Asset of company. Motivation is important for the growth of employees as well as
growth of the organization.

Motivated employees help organizations survive. Motivated employees are more

productive. To be effective, managers need to understand what motivates employees
within the context of the roles they perform. Motives can only be inferred, but not seen.
The dynamic nature of needs offend poses challenge to any manager in motivating his or
her subordinate. An employee, at any given time, has a various needs, desire, and
expectations. Employees who put in extra hours at work to fulfill their needs or
accomplishment may find that these extra hours conflict directly with needs for affiliation
and their desire to be with their families.

46
 BIBLIOGRAPHY
Websites:

1. Www.Google.Com

2. www.HDCF Life.com

Books:

1. Human Resource Management K. Aswathapa

2. Human Resource Management VSP Rao
3. Human Resource Management P.C.Tripathi

47
 QUESTIONNAIRE

A STUDY ON EMPLOYEE MOTIVATION

Respected Sir/madam,

As a part of my project I would like to gather some information from you which will
help me in an in depth study of project. Since the questionnaire is being used for
academic purpose, the information gathered will be strictly confidential.

Kindly fill the following:

1. Are you satisfied with the support from the HR department?

1. Highly satisfied 2. Satisfied Neutral

3. Dissatisfied 4. Highly Dissatisfied

2. Management is really interested in motivating the employees?

1. Strongly agree 2. Agree Neutral

3. Disagree 4. Strongly disagree

3. Which type of incentives motivates you more?

1. Financial incentives 2. Non-financial incentives 3. Both

4. How far you are satisfied with the incentives provided by the organization?

1. Highly satisfied 2. Satisfied Neutral

3. Dissatisfied 4. Highly Dissatisfied

48
5. Please provide the following rates.

(5- Strongly agree, 4- Agree, 3-Neutral, 2-Disagree, 1-Strongly disagree)

6. Respondent's Classification According to the Employee Motivation

Are you motivated by

No. of Respondents Percentage
the officers

Yes

No

7. Respondent's Classification According to the opportunity for expressing their

views

Do you get the opportunity to express

No. of Respondents Percentage
your view in the company

Yes

No

49
8. Respondent's Classification According to the Types of Feeling with organization

What type of feeling you have

No. of Respondents Percentage
by working on HDFC

Satisfied

Unsatisfied

9. Respondent's Classification According to the job satisfaction about company

management

Are you satisfied with your

No. of Respondents Percentage
company management

Completely

Partially

10. Respondent's Classification According to the satisfaction with regard to working

conditions

Are you satisfied with the

working conditions on No. of Respondents Percentage
K.B.E.C

Completely

Partially

50
 INDEX
Sr. No Chapter Page no.
1 Executive Summary 1-2
2 Introduction 3-5
3 Company Profile 6 - 20
4 Topic Description 21 - 26
5 Objective of the Study 27
6 Research Methodology 28 - 29
7 Data Analysis & interpretation 30 - 42
8 Findings 43
9 Limitation 44
10 Conclusion 45
11 Recommendations & Suggestion 46
12 Bibliography 47
8. Annexure 48 - 50

51
S.G.B.M.INSTITUTE OF TECHNOLOGY & SCIENCE, JABALPUR

FORWARD

I here by forward the project entitled a project report on "A STUDY ON

EMPLOYEES MOTIVATION OF HDFC LIFE INSURANCE" Submitted by SONAM

VISHWAKARMA student of MBA Department S.G.B.M.I.T.S JABALPUR. In
partial fulfillment of the requirement for the award of the degree of MASTER OF
BUSINESS ADMISTRATION of RANI DURGAVATI VISHWAVIDYALAYA,
JABALPUR.

Director, MBA
Dr. P.C. Sharma
N.R Pal (H.O.D.)

52
 ACKNOWLEDGEMENT

The project defines and signifies the shear mannerism in which

numerous interacted tasks are performed. Researcher importance
and providing attention which is nothing short of being invaluable.

I am thankful to Mrs. Swati Jain & Other Faculties for his

valuable support in the preparation of the project.

Last but not the least, I wish to remember with deep sense of
grateful the encouragement provided to me by my friends and batch
mates.

Sonam Vishwakarma
M.B.A IV Semester

Enrolment No- BA/2336

53
S.G.B.M.INSTITUTE OF TECHNOLOGY & SCIENCE, JABALPUR

DECLARATION

I hereby declare that the project entitled as a study of A study on

Employees Motivation of HDFC Life Insurance being submitted in
partial fulfillment for the award of the degree of Master of Business
Administration of Rani Durgavati Vishwavidyalaya Jabalpur is authentic
record of my own work done under the guidance of Mrs. Swati Jain the
matter reported in this project has not been submitted earlier for the award
of degree or diploma.

Jabalpur

Date Sonam Vishwakarma

MBA IV semestar

54
 S.G.B.M.INSTITUTE OF TECHNOLOGY &
SCIENCE, JABALPUR

A
EVALUATION REPORT
ON

A study on Employees Motivation of HDFC Life Insurance

In Partial Fulfillment for the Award of

Degree Of Master of Business Administration
Semester-IV

SUBMITTED TO

RANI DURGAVATI VISHWAVIDYALAYA, JABALPUR (M.P.)

Under The Guidance of Submitted By

Mrs. Swati Jain & Ms. Ritu Pandey Sonam Vishwakarma
M.B.A. IVth Semester

Session: 2011-2013

55
56