adam jee report final
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TABLE OF CONTENTSTABLE OF CONTENTS
EXECUTIVE SUMMARY.....................................................................................................................2
COMPANY INTRODUCTION..............................................................................................................3
1.1 VISION...............................................................................................................................................5
1.2 CORE VALUES.................................................................................................................................... 5
...................................................................................................................................................................6
1.3 DEFINITION.........................................................................................................................................6
1.4 MOTIVATION PROCESS..........................................................................................................................7
1.5 EMPLOYEE MOTIVATION AT WORKPLACE................................................................................................7
MOTIVATIONAL THEORIES – ADOPTED AT ADAMJEE INSURANCE......................... ........8
1.6 ALDERFER ’S ERG THEORY..................................................................................................................8
1.6.1 Alderfer’s ERG Theory AT ADAMJEE INSURANCE .................................................. ........ ..91.6.2 Relatedness ............................................................................................................................10
1.6.3 Growth .................................................................................................................. ........ ........11
1.7 MCCLELLAND’S THEORY OF NEEDS.................................................................................................... 11
1.7.1 McClelland’s Theory of Needs AT ADAMJEE INSURANCE ...............................................12
1.7.2 Need for Power ............................................................................................................... ......12
1.8 EQUITY THEORY ...............................................................................................................................13
1.8.1 Theory Overview ...................................................................................................................13
1.8.2 Equity Theory AT ADAMJEE INSURANCE .........................................................................15
1.9 EXPECTANCY THEORY........................................................................................................................16
1.9.1 Theory Overview: ..................................................................................................................16 1.9.2 Expectancy Theory AT ADAMJEE INSURANCE .................................................................17
OTHER MOTIVATIONAL FACTORS AT ADAMJEE INSURANCE..................................... ....18
1.10 EMPLOYEE APPRAISAL .....................................................................................................................18
1.11 I NTRINSIC AWARDS AT ADAMJEE INSURANCE .........................................................................20
1.11.1 Employee Involvement AT ADAMJEE INSURANCE .............................................. ......... ..20
1.12 SKILL-BASED PAY PLANS................................................................................................................. 21
1.12.1 Retirement Plans .................................................................................................................21
1.12.2 Health Insurance .................................................................................................................22
1.13 DE-MOTIVATED EMPLOYEES..............................................................................................................22
1.13.1 Counseling ................................................................................................................. ........ .221.13.2 Career Development ........................................................................................................ ...23
SURVEY DETAILS...............................................................................................................................24
1.14 JOB SATISFACTION...........................................................................................................................24
1.15 WORK E NVIRONMENT...................................................................................................................... 261.16 EMPLOYEE EMPOWERMENT............................................................................................................... 27
1.17 PERFORMANCE APPRAISAL SATISFACTION............................................................................................29
1.18 FLEXIBLE BENEFITS......................................................................................................................... 30
CONCLUSION......................................................................................................................................32
RECOMMENDATION.........................................................................................................................32
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EXECUTIVE SUMMARY EXECUTIVE SUMMARY
The purpose of this study is to determine what are the motivational factors
that Adamjee INSURANCE use to motivates its employees to work in different
departments. We have taking five departments: Marketing department,
Quality Assurance, Finance department, HR department and Health
Department. As around 300 people work in Adamjee Insurance and to
motivate them Adamjee Insurance uses different motivational theories
approach which may include Alderfer’s ERG Theory, McClelland’s Theory of
Needs, Equity Theory, and Expectancy Theory.
Following are the motivational factors that are used by the departments
continuously to motivate employees.
• Employee Appraisal
• Intrinsic Awards
• Employee Involvement
•
Skill-based Pay Plans• Flexible Benefits
• Benefits program
• Training provision
• Time off and time out
• Our diverse global community
• Sports and social activities
• Listening to our employees
After the analysis of complete survey we can conclude that employees of
ADAMJEE INSURANCE enjoys different attributes of Motivation like they
have Job Satisfaction as they believe they have personal and professional
growth opportunities, they feel they have empowerment. They have very
skillful, high-quality and superior working environment. They believe that
their performance is appreciated will result in reward as ADAMJEE
INSURANCE is having EDR system. The one thing that may be a cause of de-motivation is ADAMJEE INSURANCE does not offer tailored benefits.
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COMPANY INTRODUCTIONCOMPANY INTRODUCTION
Introduction
Adamjee Insurance Company Limited (AICL) was incorporated as a publiclimited company on September 28, 1960 and is listed on Karachi andLahore stock exchanges of the country. The company is also registered
with the Central Depository Company of Pakistan Limited (CDC). AICL isinvolved in General Insurance business.
The company started with a paid up capital of Rs. 2.5 million which hasgrown phenomenally to the current paid up capital of Rs. 1.022 billion which is the highest amongst all the general insurance companies. AICLenjoys a competitive edge in the insurance industry due its strong asset
base, paid up capital, huge reserves, and balanced portfolio mix, steady growth in gross premium and continuous increase in share price at thestock market.
Diversified portfolio of business
AICL broadly is involved in underwriting the following classes of
businesses:
• Fire and Property
• Marine, Aviation and Hull
• Motor
• Miscellaneous business
Underlying these businesses a large variety of coverage is offered to the
clients to fulfill their needs. AICL believes in customer satisfaction by providing quality in service and products and maximum benefits to its
client. This is the reason why the company has a diversified portfolio of
clients belonging to all categories. Most of the banks are insured by the
company. AICL insures petrochemical and complex industrial risks of very
high value. The company has a major market share of engineering
business in Pakistan. It provides Insurance protection to most of the
private sector telecommunication industries. The company insures most
of the textile mills, sugar mills and cement factories of the country. AICL
pioneered the coverage of energy risks in Pakistan. Foreign concerns
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entering Pakistan to execute construction, erection or infrastructure
development projects are insured by AICL. The company is the principalinsurer in Pakistan for Kidnap & Ransom, Professional Indemnity,
Product Liability and other specialized lines.
Objectives
• Strengthen customer relationship through customer satisfaction by
providing excellent service and quality products.
• Maintain a healthy balance between Profitability and Volume and
have a balanced portfolio mix.
• Increase investment returns from its growing funds and absolute
return strategy.
• Consolidate market share through offering new products and to
focus our approach in areas where our presence is small.
• Establish modern management system and adopting latest
techniques conforming to International Standards needed for an
efficient organization.
Strategies
• To pursue strong growth
• Adopting industry's best practices and increasing economies of
scale.
• Leveraging opportunities across the industry.
• Development of Human Resource through training and exposure to
modern technologies and management techniques.
• Expansion of business and improving customer relationship
management through wide network of branches locally and
internationally.
• Development in Information Technology to have an effective
Management Information System.
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• Pursue best Reinsurance arrangements
• Establish effective Risk Management System.
1.1 Vision
“Our Will is to EXPLORE, INNOVATE and DIFFERENTIATE.
Our passion is to provide leadership to the insurance industry”
1.2 Core Values
Corporate social Responsibility
Our corporate responsibility focuses on compliance, ethics and corporate
citizenship including overall sustainability. We have worked towards the
advancement in these areas through enhanced communications, training and
other initiatives.
Compliance and Ethics With regulation in most countries becoming most complex and extensive,
there can be a business advantage for companies able to develop the
capabilities and structures to meet these obligations more effectively and
efficiently than their competitors. Our compliance strategy is based on this
recognition, as well as on our commitment to do what is right.
An important tool is our compliance performance standards that apply to
our business and help advance common foundations and processes. We
also work to deepen the understanding of managers and employees
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regarding compliance and ethical obligations generally. These initiatives
include multimedia awareness campaigns, specific training in detailed
regulatory areas and learning initiatives related to areas such as conflicts
of interest.
Environment, Health and Safety
It is the company’s policy to conduct business operations in a manner that
protects the health and safety of all its employees and any third parties
involved in its business. During the year under review the key focus was
renovation of our branches and improvements to the light and air quality
in all our offices. Major renovation has been carried out in our branches
and head office and the company is in the process of finalizing the deal for
building its own premises both at Karachi and Lahore.
The company does not have a major direct impact on the environment, as
its business is office based. Nevertheless, the company is aware of the
importance of environmental issues and is committed to measuring andreducing those impacts, which are within controlling ability.
Committed to Excellence
We live in times of intense competition, but our key differentiating
factor is our unwavering commitment to operational and financial
discipline in producing successful results, keeping our promises and
meeting our customer needs.
1.3 DefinitionMotivation can be defined in a variety of ways, depending on whom you ask. If
you ask someone on the street, you may get a response like, “It’s what
drives us” or “Motivation is what makes us do the things we do.” As
far as a formal definition, motivation can be defined as “forces within an
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individual that account for the level, direction, and persistence of
effort expended at work ,” according to Schermerhorn, et al.This is an excellent working definition for use in business. Now that we
understand what motivation is, we can look at the factors that help managers
to be able to motivate and then a look at some of the theories on motivation.
1.4 Motivation Process
Unsatisfied need => Tension => Drives => Search Behavior =>
Satisfied needs => Reduction of tension => New unsatisfied needs
1.5 Employee Motivation at Workplace
Motivation is what gets you started. Habit is what keeps you going.
- Jim Ryun
The job of a manager in the workplace is to get things done through
employees. To do this the manager should be able to motivate employees. But
that’s easier said than done! Motivation practice theories are difficult subjects,
touching on several disciplines.
Human nature can be very simple, yet very complex too. An understanding
and appreciation of this is prerequisite to effective employee motivation in the
workplace and therefore effective management and leadership.
There is an old saying:
“You can take a horse to the water but you cannot force it to drink; it will drink
if it’s thirsty”
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.
• Positive reinforcement / high expectations
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• Effective discipline and punishment
• Treating people fairly • Satisfying employees needs
• Setting work related goals
• Restructuring jobs
• Base rewards on job performance
These are the basic strategies, though the mix in the final 'recipe' will vary
from workplace situation to situation. Essentially, there is a gap between an
individual’s actual state and some desired state and the manager tries to
reduce this gap.
ADAMJEE INSURANCE is a huge setup. To keep all of its employees
motivated is a very complex task, because of the large number of employees
and as each employee has his/her own personality. It becomes virtually
impossible to devise techniques that match the personality of all the
employees. So for this purpose they have certain procedures and policies jointly for all the employees of the organization.
MOTIVATIONAL THEORIES – ADOPTED ATMOTIVATIONAL THEORIES – ADOPTED AT ADAMJEE INSURANCE ADAMJEE INSURANCE
1.6 Alderfer’s ERG Theory
Alderfer’s theory is called the ERG theory – Existence, R elatedness, and
Growth. Alderfer’s ERG Theory can well be compared with Maslow’s
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Hierarchy of Need Theory cause Alderfer’s has tried to cover all the points as
discussed by Maslow’s with a little change, which is discussed below.
Existence:Existence refers to our concern with basic material existence requirements;
what Maslow’s called physiological and safety needs.
Relatedness:Refers to the desire we have for maintaining interpersonal relationships;
similar to Maslow’s social/love need, and the external component of his
esteem need.
Growth:Refers to an intrinsic desire for personal development; the intrinsic
component of Maslow’s esteem need, and self-actualization.
1.6.1 Alderfer’s ERG Theory AT ADAMJEE INSURANCE
1.6.1.1 Existence
ADAMJEE INSURANCE gratifies the need for existence and the employees at
ADAMJEE INSURANCE think that their basic needs are being satisfied but
they don’t seem to be completely satisfied with it especially with the material
rewards that they get. For e.g.
Average Salary The employees at ADAMJEE INSURANCE are not satisfied with their salaries
and they consider it to be average. This view is strongly found in the lower
grade employees and the contractual employees. Though the upper level
employees that include the Departmental Heads, General Managers
and above seem to be much satisfied with what they are paid.
Excellent Working EnvironmentThough the average salary seems to be de-motivating factor for the low level
employees and the contractual employees but due to the excellent working
environment that ADAMJEE INSURANCE provides, these employees seem to
be seldom de-motivated. There is also a condition exists, when there had been
various employees who just wanted to work in ADAMJEE INSURANCE because of the working environment they provide regardless of what they are
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paid and what job responsibilities are they given. This turned out to be one of
ADAMJEE INSURANCE’s strongest points.
Job Security Working at ADAMJEE INSURANCE seems to be a secure job as far as the
permanent and high-level employees are concerned but the contractual
employees never find it to be as secure. But due to job security being a major
issue in Pakistan today, these contractual employees were hesitant to voice
their complaints
Insurance & Medical Benefits All permanent employees at ADAMJEE INSURANCE enjoy the Life Insurance
and Medical Benefits that are entitled to them. In contrast the contractual
employees; realizing the downward trend in the economy, just want a stable
job regardless of the insurance and medical benefits provided by ADAMJEE
INSURANCE.
1.6.2 Relatedness
These needs are social in nature and they are about the interpersonalrelationships of the staff.
Good Working Relationship At ADAMJEE INSURANCE, these needs are quite well satisfied since the
employees have a good working relationship even though there is an air of
competency surrounding them.
Lunch Together
We observed that the employees of the various departments at ADAMJEEINSURANCE gather and go for lunch together. Now this help the employees
know each other very well and help them maintain a very good and positive
interpersonal relationship.
Self Differences between High Level EmployeeIt has also been noticed that few of the high level employees at organization
have some self differences that are developed due to status problems and
ownership problems which effect the process of maintaining a good
interpersonal relationship but then again the high level employees are
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professionals and they tend to forget these difference when they meet each
other a global level.
1.6.3 Growth
The permanent and high-level employees are satisfied with the growth
opportunities that ADAMJEE INSURANCE provides them every now and
then.
TrainingEmployee training workshops are conducted on a need basis. Trainings are
carried out in areas such as:
• Improvement of Business Communication skills
• Usage of new Computer software
Encourages IdeasEmployees are encouraged to put forward any creative, beneficial ideas. If the
idea seems to be attractive, ADAMJEE INSURANCE gives the employees the
opportunity to implement the idea. This turns out to be a very encouraging
and motivating approach for the employees and later on the employees are
rewarded if the idea is implemented well.
Employee Job RotationFor the purpose of employee growth and increase in motivation, employees
are often rotated within or between departments.
1.7 McClelland’s Theory of Needs
In attempting to understand employee motivation, Abraham Maslow
proposed a Hierarchy of needs. David McClelland furthered this idea in his
socially acquired theory. McClelland’s experimental work identified that
motivation is present in different people in different degrees. He proposed
that these needs were socially acquired or learned. That is, the extent to which
these motivations are present varies from person to person, and depends on
the individual and his or her background.
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According to David McClelland, regardless of culture or gender, people are
driven by three motives/needs:
• Achievement,
• Affiliation, and
• Power
1.7.1 McClelland’s Theory of Needs AT ADAMJEEINSURANCE
1.7.1.1 Need for Achievement
The need for achievement is characterized by the wish to take responsibility,
for finding solutions to problems, master complex tasks, set goals, and get
feedback on level of success.
The employees have a discrete and potent need to take part in decision-
making and problem solving activities. Employees are encouraged to take on
challenging and higher goals, especially those working in the Sales
Department.
The managers at ADAMJEE INSURANCE generally promote a sense of high
achievement among his/her subordinates, which makes them feel that their
contributions add to the attainment of organizational goals.
But, another ever-present aspect is that the jobs in some departments are not
necessarily very stimulating, therefore the manager has to make great efforts
to make the employees have a rewarding experience in his department.
1.7.2 Need for Power
The need for power is characterized by a drive to control and influence others,
a need to win arguments, a need to persuade and prevail. According to
McClelland the presence of these motives or drives in an individual indicates a
predisposition to behave in certain ways.
At ADAMJEE INSURANCE, from a manager’s perspective, recognizing which
need is dominant in any particular individual affects the way in which that
person can be motivated. Employees with high need for power are those who
want to be the best performers. They have the potential to successfully
perform in a commanding position if ever endowed with authority. Other
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people in the departments are doers; they do not cultivate this kind of need.
Even though, there are a number of people who give a lot of importance tomonetary rewards, there does not seem to be any who would like to be
entrusted with too much responsibility.
1.7.2.1 Need for Affiliation
The need for affiliation is characterized by a desire to belong and relate.
• An enjoyment of teamwork,
• A concern about interpersonal relationships and
• A need to reduce uncertainty.
Employees at lower grade According to an employee at ADAMJEE INSURANCE, working in the lower
management level the need for affiliation is very important at his position:
• To be in the good books of seniors and more experienced people,
• To get a pat on his back for a job well done in a meeting means a lot
• To be recognized for efforts among colleagues
Employees at higher experience or gradeEmployees with higher experience have a strong need for affiliation as they
want to be recognized by the top-level management.
1.8 Equity Theory
1.8.1 Theory Overview
Equity (or inequity) is a psychological state residing within an individual. It
creates a feeling of dissonance that the individual attempts to resolve in some
manner.
Equity is a social comparison process, resulting when individuals compare
their pay to the pay of others. There is no “rational” or single “equitable pay
rate” for any given job or individual. Equity is a subjective evaluation, not an
objective one. Based on the comparisons that an individual uses, each
individual is likely to develop different perceptions of equity.
The comparisons that individuals use tend to fall into four classes of comparison:
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Self Inside:
An employee’s experiences in a different position inside his currentorganization.
Self outside: An employee’s experiences in a different position outside his current
organization.
Other Inside: Another Individual or group of individuals inside the employee’s organization.
Other Outside: Another Individual or group of individuals outside the employee’s
organization.
Individuals determine equity by comparing their contributions (job inputs)
and their rewards (job outcomes) to those of their comparisons. This
comparison takes the form of a ratio and if this ratio is in balance, the
individual perceives equity. Inequity is experienced when ratio is out of
balance. Thus when an individual perceives that his/her contribution is equal
to the comparison and his/her reward is lower or his/ her contribution is
greater and reward is equal, inequity is felt.
The individual responses to inequity include:
• Leaving the organization
• Reduction in performance, generally extra role behavior
• Attempting to increase one’s pay
• Attempting to reduce the performance of others
• Rationalization- perceptually altering reward and/or contribution
What do individuals view as relevant contributions? Given the perceptual
nature of equity, the answer varies with each individual; however,
contributions fall into a number of categories:
Job contributionsInclude the factors that differentiate one job from another. They typically
include responsibility, skills, education, and working conditions required by
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the job itself. (e.g., individuals working in jobs requiring greater levels of
responsibility generally expect higher levels of pay).
Personal contributionsInclude attributes the individuals bring to the organization that they believe
differentiate them from others such as experience, longevity and extra
education (e.g., individuals with greater seniority often expect higher levels of
pay).
Performance contributions
Include the extra effort/results that differentiate one employee from another(e.g., individuals who perceive that their performance is better than others
with whom they work, often believe they are entitled to higher levels of pay.
Typical Management interestsManagers generally define pay-related problems in terms of their behavioral
consequences (turnover or performance). Therefore, inequity itself is not
generally viewed as a management problem unless it appears to be related to
turnover of reduced performance. Since the links between turnover and pay
are often much clearer than those between pay and extra role behavior,
turnover often becomes the only managerial focus. Therefore, typical
management interests relate to keeping the employees who it deems valuable.
Typical Employee InterestsFrom the employee perspective, the perception of inequity is a problem in
itself. A union’s interests lies in achieving equity for the greatest number of its
members, regardless of their ability to leave the organization. In fact, it is a
union’s responsibility to bargain for the interests of those with limited
individual power or marketability.
Low morale is often a consequence of inequity. Even when low morale is not
manifested in turnover, reduced performance, to reluctance to take on extra
duties, from the employee perspective, it is still viewed as a problem.
1.8.2 Equity Theory AT ADAMJEE INSURANCE
Employee Performance AppraisalEmployee performance appraisal procedure is highly accountable thus leaving
no chance of inequity among employees.
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Employee Salary Evaluation
An employee’s educational qualification is given highest importance whenevaluating salary. It may be possible that a lower grade employee, within the
same or different department, has a higher salary than someone in an
immediately higher grade.
Thus inequity sometimes arises among employees working in a higher group
within the same or different departments.
1.9 Expectancy Theory
1.9.1 Theory Overview:
The expectancy theory argues that the strength of a tendency to act in a
certain way depends on the strength of an expectation that the act will be
followed by a given outcome and on the attractiveness of that outcome to the
individual. In more practical terms this theory says
“That an employee will be motivated to exert a high level of effort when he
or she believes that the effort will lead to a good performance appraisal;
that a good performance appraisal will lead to organizational rewards like
a bonus, a salary increase, or a promotion; and that the rewards will
satisfy the employee’s personal goals”
Expectancy
The expectancy is the belief that one’s effort will result in attainment of
desired performance goals. This belief, or perception, is generally based on an
individual’s past experience, self-confidence (often termed self-efficiency) andthe perceived difficulty of the performance standard or goals.
Instrumentality
The degree to which the individual believes that performing at a particular
level will lead to the attainment of a desired outcome.
Valance
The degree to which organizational rewards satisfy an individual’s personal
goals or needs and the attractiveness of those potential rewards for theindividual.
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Example Include: “Do I want a bigger raise? Is it worth the extra effort? Do
I want a promotion?
1.9.2 Expectancy Theory AT ADAMJEE INSURANCE
At ADAMJEE INSURANCE the employees believe in maximum effort which
leads to good performance which further results in the outcome in the form
of rewards like a raise in income, promotion, performance appraisal letter
etc that contribute towards their personal goals.
Contractual Employee ViewsThe contractual employees are also aware of this theory but they don’t follow
it because it has been found that their basic aim is to become a permanentemployee. But becoming permanent employee doesn’t entirely depend on the
performance. It also depends if there is any permanent slot available. So the
contractual employees are aware of the facts that even if they perform well,
they cannot become permanent unless there is a slot available. So this serves
as a very de-motivating factor for the contractual employees and this is the
reason they don’t hesitate to switch the job whenever they get even a slight
better opportunity or a permanent place in some other organization.
Effort
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EFFORT
PERFORMANCE
OUTCOME
REWARD
Expectancy
Instrumentality
Valence
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At ADAMJEE INSURANCE, the employees are aware of the fact that if they
work competently and put their efforts, they will be able to attain the task performance, as the effort expanded by them will have a positive result.
Performance When the employees of ADAMJEE INSURANCE put their efforts, they attain
the desired performance level and consequently are evaluated on that ground.
Instrumentality Instrumentality is also quite high in the company as the management assigns
a certain % of work that the employees have to achieve, through which, they are evaluated at the time of dispensing rewards. The % of work is in terms of
yearly goals, monthly goals and weekly goals.
Rewards When the employees attain certain level of work performance gauged against
the goals set at the start of the year, they are positively evaluated and get
rewards in shape of annual increment; and organizational performance
rewards etc.
ValanceThe employees attach a great deal of value to the rewards they get. The
rewards are often in the form of a praise or recognition, to which the
employees attach a great deal of significance. Monetary rewards are costly and
require loads of time and energy. Therefore the management is not too keen
on imparting such gifts.
OTHER MOTIVATIONAL FACTORS AT ADAMJEEOTHER MOTIVATIONAL FACTORS AT ADAMJEE INSURANCEINSURANCE
1.10 Employee Appraisal
At ADAMJEE INSURANCE, employee appraisals are conducted annually to
evaluate their work related and personal performance. The process of
appraisal works in various steps and the HRM department is proud to have
such a system installed in the company where no one objects to the appraisalprocess as it’s considered to be the fairest attempt of grading an employee in
the company.
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The appraisal process is held in between the months of July and June every
year. Increments and promotions are devised after this period that becomeseffective from the month of October, the same year. Performance Appraisal at
ADAMJEE INSURANCE is a six step approach.
Step 1 ADAMJEE INSURANCE HR department have designed two forms named as
Form 1A and form 1B to measure the milestone, target achievements that were
made last year. This is done by comparing the goals set last year for each
individual employee under their department. Once measured, it is sought out
to what extent the company was successful in achieving its target. Also, targets
are set for the next year on the basis of this measurement.
Step 2:In the next step, HRM department does performance analysis by distributing
to departmental heads and supervisors Form 2A and 2B (Collectively known
as Employee Development Report) to measure the employee’s capabilities on
24 different attributes and of the attribute is rated on the scale of 1 to 5;
summary of these points is reflected in the table below
Step 3:Once the EDR forms are completed,
these are submitted to the HRM
department by all the departments in
the company, employees comments
are also taken on EDR forms. In the evaluation process, an employee’s EDR
report is shown to the employee himself. He/She is also allowed to discuss it
with both Head of the Dept. and GM
Step 4:Bell shape curves are made to classify the employees among the 5 different
grading categories
Step 5:Review Committee Meeting is held to decide the extrinsic benefits based on
the performance appraisal data. The meeting is officially called as Employee
Leader Team Committee (ELTC) meeting. Recommendation list is handed
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Rating Point Summary
1Inadequate,
Not satisfactory
2Marginal,
Below Average3 Average4 Above Average5 Outstanding
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over to the ETLC group by the HR department after they have completed their
analysis and classified the employees for increment plan.Step 6:ELTC made finalized decisions on transfers, recruitments, salaries/benefits
based on the appraisal data
1.11Intrinsic Awards at ADAMJEE INSURANCE
At the end of the year MD performance award are given to outstanding
employees whose hard work has brought about some difference and created
value for ADAMJEE INSURANCE.
Each of the departments is asked to nominate 5 top employees. Out of theses
150 employees top 50 are selected. From among these 3 finalists are chosen
and one of them is awarded as the prize winner, the rest of the two gets
runners up nomination where as the entire pool of 50 top employees get
recognition certificates from ADAMJEE INSURANCE.
The award is complemented by a token object like watch etc. and the
photograph becomes part of ADAMJEE INSURANCE newsletter, which is
quite an honor. Apart from this the MD write a letter of appreciation and
excellence with his own hands to the awarded employees.
1.11.1 Employee Involvement AT ADAMJEE INSURANCE
ADAMJEE INSURANCE started employee involvement programs i.e.
involving workers in these decisions that affect them. By increasing
employee’s autonomy and control over their work life, employees will be more
productive, more motivated, more committed to the organization and more
satisfied with their jobs. But the upper management takes all top and highly
important decisions.
1.11.1.1 Management Participation
Through the participation of management the employees share a significant
degree of decision-making power with their immediate superiors.
Participation increases commitment to decisions.
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At ADAMJEE INSURANCE the employees can assist their managers in setting
work schedules such as flexible compressed week etc. and selecting the righttarget segment. Such participation programs provide intrinsic rewards for
them. It can make their jobs more interesting and meaningful.
1.11.1.2 Representative Participation
Currently in ADAMJEE INSURANCE there are 2 employee committees thatare aimed towards addressing general employee issues and concerns:
Management CommitteeThis committee consists of MD and Executive directors who are addressproblems and concerns of every project presented to them by the Dept Headsand Project Leaders.
Executive CommitteeThis committee consists of all GMs and Executive directors at ADAMJEE
INSURANCE.
1.12Skill-based Pay Plans
At ADAMJEE INSURANCE, the amount of salary is generally fixed for
different job titles/designations. But in evaluating an employee’s salary, most
importantly, skills and educational qualification are given higher priority
over amount of work experience. This means an employee at a lower job
designation can have a higher salary than those at an immediately higher job
designation. In this way ADAMJEE INSURANCE makes use of Skill-based
Pay plan in rewarding its employees.
ADAMJEE INSURANCE encourages its employees to learn new skills by:
• Training Programs and Workshops
• Employee Job rotation across departments
Thus employees at ADAMJEE INSURANCE with a high need for
achievement and growth are highly motivated and satisfied with their
job.
1.12.1Retirement Plans
One more source of motivation for the employees of ADAMJEE INSURANCE
is the secure future ahead of them. ADAMJEE INSURANCE offers a good
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1.13.2 Career Development
Career development is done specifically for those who have a project failure.The department head along with the HRM try to find reasons for the failure
and try to see where the employee fits the best.
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SURVEY DETAILSSURVEY DETAILS
The main purpose of this survey is to study, how employee feels about work
environment, Job Satisfaction, Employee empowerment Flexible benefits and
Performance appraisal satisfaction. These factors would then enable us to
infer either employees of ADAMJEE INSURANCE are motivated or not? We
selected random sample of 50 ADAMJEE INSURANCE employees to conduct
this survey.Following the analyzed results obtained as a result of the survey
1.14Job Satisfaction
1. I have adequate information available
which enables me to do my job well.
Major number of employees knows about their over all responsibilities in
organization. Generally, at the time of appointment there is an orientationprocess to employees about organization and they also have free access to the
Code Book of ADAMJEE INSURANCE so employee knows about the general
rules and regulation to do his/her job. Specifically, departmental heads are
responsible to brief employee about his/her job.
52%
29%
10%9%
0% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
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I understand the day-to-day goals of my department.Most of the employees understand the day-to-day goals of the department.
Departmental heads provides day to day task to the concerned employee.
20%
60%
15%
5%
0% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
I feel valued as a team member
Organizations these days put lot of emphasis on innovations and creativity.
ADAMJEE INSURANCE promotes the idea of innovation. It encourages
employees to creativity. Hence, most of the employees feel that their inputs
are valued.
11%
49%
28%
10%2% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
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12%
56%
20% 11%1% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
3. Are relationships at work mature and non-political?By and large people relationship at work is mature and they deal each other in
high professional environment with friendly behavior and the employees of
ADAMJEE INSURANCE act as a family member.
23%
38%
30%
6%3% Strongly Agree
Agree
Neutral
DisagreeStrongly Disagree
1.16Employee Empowerment
1. Diverse perspectives are valued and encouraged within the
departmentThe results strongly indicate that employees are comfortable working with
diverse people and have a positive approach for teamwork.
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15%
67%
11%
7%
0%Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
2. I have the support and authority to make the decisionsnecessary for accomplishing assigned task.
Results indicate that people share their knowledge and having task delegation
which enables them to take desire decision.
11%
49%
28%
10%2%
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
3. I have enough involvement in decisions that affect my work
Results indicate that employee is having involvement in decisions, which
affect his/her work. It might be possible the involvement level varies
according to the task.
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15%
44%
28%9%
4%
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
1.17 Performance Appraisal Satisfaction1. My department uses employee feedback to make
improvements.
In ADAMJEE INSURANCE most of the department follows open door policy
and any employee is free to express his/her suggestion to departmental head
or even in front of MD of ADAMJEE INSURANCE. Results show that their
suggestions are valued.
33%
67%
0%
0%
0%Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
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2. Does the company have a fair employee recognitionprogram?Company offers 2 awards per year on the basis of performance of employees,
Shaukat R, Mirza award and MD award, which provides sense of recognition
in employees.
17%
48%
28%
6%
1% Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
1.18Flexible Benefits
1 The Company retirement benefits is important factors inkeeping employees on their jobs
ADAMJEE INSURANCE offers attractive benefits after the retirement and
results shows that it is one of the factors among several other factors due to
which employee stays in company for long time.
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11%
40%
35%12%
2%Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
2 Company offers flexible work time to their employeesResults indicate that company does not offer customize timings to its
employees. It might be possible it is due to nature of work which company has
only sales people are allowed to come late but they must be informed to HR
department earlier. This factor may de-motivate employees.
0%3%
0%
30%
67%
Strongly Agree
Agree
Neutral
Disagree
Strongly Disagree
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CONCLUSIONCONCLUSION
After the analysis of complete survey we can conclude that employees of
ADAMJEE INSURANCE enjoys different attributes of Motivation like they
have Job Satisfaction as they believe they have personal and professional
growth opportunities, they feel they have empowerment.
They have very skillful, high-quality and superior working environment. They
believe that their performance is appreciated will result in reward as
ADAMJEE INSURANCE is having EDR system. The one thing that may be a
cause of de-motivation is ADAMJEE INSURANCE does not offer tailored
benefits.
RECOMMENDATIONRECOMMENDATION
As discussed in the earlier section all the employees of ADAMJEE
INSURANCE fall in certain category. The motivation techniques used for all
these categories are the same. Whether the employee is an officer (Grade 7) or
a General Manager (Grade 1) the same techniques would be used on them but
the magnitude of the technique would differ. For example, there is same range
of increment on all the employees from grade 1 to 7 but certain perks like
company car, furniture, housing and a phone will only be given to grade 1 and
grade 2 employees.
It clearly depicts the efforts and the results that are being generated due to the
motivation levels of the employees of the company. The HRM dept. should be
given a pat at the back for their efforts in this regard.
Identifying employee’s needs and developing reward structure accordingly
will help Adamjee to reduce the level of demotivation in the organization and
raise employee’s loyalty. This will also make the employee feel that the
organization cares for his need and will make him feel his position in the
organization.
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Establishing a check and balance in departments will help the organization to
compare the required standards with the employee’s efforts and will result in
providing guidance on certain lacking. This can result in feedback to the
employee’s work and can also prove to be a good reinforcement strategy.
Training the staff and setting targets for each department will give employee’s
a set of guidance as to where they have to reach and will motivate workers to
strive hard to achieve those targets.
Management by Objectives would be another factor in motivating
departments in order to make them work towards achieving a common goal of
the organization.