PROJECT REPORT ON

MOTIVATION OF
EMPLOYEES

Submitted by: SHRUTI SHARDA

JODHPUR INSTITUTE OF MANAGEMENT

Affiliated to THE UNIVERSITY OF RAJASTHAN

Approved by AICTE
ACKNOWEDGEMENT
This Summer Report Project would not have been possible
without the support and assistance of all the specialists
working in this area. I would like to take this opportunity to
thank each one of them for the intellectual exchanges, valuable
suggestions, critical reviews, and technical assistance.

First of all, I am highly indebted to Mr. SAURABH

BHANDARI Regional Manager Mr. NIKHIL GUPTA Branch
Head, Mr. RAMESH PHOPHALIYA Team Leader and Mr.
CHANDRAJEET SING RAJPUROHIT Operations Head for
giving me the opportunity to work under their personal
guidance. I express my sincere gratitude to other members of
INDIABULLS who helped me in successful completion of the
training & for giving me the required help and guidance in the
completing the summer training report.

I am thankful to my Director, Mrs. SWATI LODHA (Jodhpur

Institute of Management, Jodhpur) and all the faculty
members of my institute who extended their support and
guidance throughout the period of the summer training.

Last but not the least I would like to thank my parents for
encouraging and supporting me whole heartedly during the
course of this project.
PREFACE
The summer training of a management student plays an
important role in developing him as a well groomed
professional. It allows a student to give theoretical concepts a
practical stand in the field of application. It gives the candidate
an idea of dynamic & versatile professional world as well as
exposure to the intricacies and complexities of corporate
world.

Doing the summer training at INDIABULLS was a great

experience. An opening experience to the concepts of HR
department helped me in understanding the concepts that are
applied for managing human resources in the organization.
This organization since its inception has progressed a lot & is
walking on the guidelines of success .As the organization is
marching with the tenacious speed towards the horizon.

During the MBA course we are taught dozen of subjects which

if not applied properly are a simply waste of time.
Implementing & learning the concepts of HR in a work place
having large number of professionals provides an opportunity
to learn practically. I got a chance to apply the theories &
acquaint myself with the functioning of HR methodology.

In a period of 45 days exposure to the corporate environment, I

got a learning of organizational structure, its protocols, etc.

Real learning places its worth only when it gives sweet fruits in
future. Summer training is one way to learn at work. I enjoyed
the interesting experience & every part of it.

SHRUTI SHARDA
CONTENTS
S.NO. TOPIC NAME PAGE NO.
1 COMPANY PROFILE 1

2 RESEARCH OBJECTIVES 11
VISION MISSION & STRATEGY 15
TRADITIONAL HR PROCESS 16
3 NEED FOR MOTIVATION 17
UNDERSTANDING MOTIVATION 22
EMPLOYEE MOTIVATION 24
THEORIES OF MOTIVATION 31
OTHER THEORIES OF
MOTIVATION 45
4 RESEARCH METHODOLOGY 55

5 QUESTIONNAIRE DESIGNING 57

6 DATA ANALYSIS 61

7 FINDINGS 69

8 RECOMMENDATIONS 73

9 LIMITATIONS 76

10 ANNEXURE 79

11 BIBLIOGRAPHY 84

12 LEARNINGS 86
COMPANY PROFILE
Indiabulls is India's leading retail financial services company with
over 300 locations in more than 110 cities. While our size and
strong balance sheet allow us to provide you with varied products
and services at very attractive prices, our over 4400 Client
Relationship Managers are dedicated to serving your unique needs.
Indiabulls is lead by a highly regarded management team that has
invested crores of rupees into a world class Infrastructure that
provides our clients with real-time service & 24/7 access to all
information and products. Our flagship Indiabulls Professional
NetworkTM offers real-time prices, detailed data and news,
intelligent analytics, and electronic trading capabilities, right at
your finger-tips. This powerful technology is complemented by our
knowledgeable and customer focused Relationship Managers. We
are Creating a world of Smart Investor.
Indiabulls offers a full range of financial services and products
ranging from Equities to Insurance to enhance your wealth and
hence, achieve your financial goals.Indiabulls' Client Relationship
Managers are available to you to help with your financial planning
and investment needs. To provide the highest possible quality of
service, Indiabulls provides full access to all our products and
services through multi-channels .
INDIABULLS PHILOSOPHY

We have created a unique organization that is designed for you –

the Smart Investor –. We passionately believe in the Smart
Investor who wants to make his own educated investment choices
and demands world class access to a full range of services and
products ranging from Equities to Insurance, combined with the
highest level of integrity, service and professionalism.

Indiabulls is a full service investment firm offering clients access

to a tremendous range of financial services from 135 locations
across 95 cities. We have a strong team of over 1000 Client
Relationship Managers focussed on serving your unique needs.
Our world class infrastructure, built with tens of crores of
investment, provides our clients with real-time service, multi-
channel & 24/7 access to all information and products. As we've
expanded and developed to serve the needs of all kinds of
investors, we've been guided by one underlying philosophy:

You come first.

We are proud to introduce to you Indiabulls Professional

NetworkTM that offers real-time prices, equity analysis, detailed
data and news, intelligent analytics, and electronic trading
capabilities, right at your finger-tips. This powerful technology is
complemented by our knowledgeable and customer focussed
Relationship Managers who are available to help with your
financial planning and investment needs.

We invite you to learn more about Indiabulls by calling 1800-11-

11-30 (toll free) or visit our 135 Indiabulls Offices Nationwide or
explore the services we offer through the Indiabulls Market
Trader.TM

Indiabulls Financial Services Ltd.

Is a public company and listed on the National Stock Exchange,
Bombay Stock Exchange, Luxembourg Stock Exchange and
London Stock Exchange. The company ranks at 82nd position in
the list of most valuable companies in India has a market
capitalization of approx US $ 800 million. The consolidated net
worth of the company is approx US $ 400 million.

Three Engineers from IIT Delhi have promoted Indiabulls. The

company strives for rapid growth in profits, leadership in the retail
marketplace and better returns to its shareholders.

Indiabulls, along with its subsidiary companies, offer consumer

loans, brokerage and depository services, personal loans, home
loans and other financial products and services to the retail
markets.

CONSUMER FINANCE

Indiabulls being a retail focused organization fulfills the credit

need of a large percentage of population in India. The key aspect
of Indiabulls business model is to provide an extremely unique
customer experience. The blend of power of the Internet with
personalized services allows Indiabulls to expand its geographical
coverage and capture a greater share in the highly competitive
retail market. We offer consumer loans, home loans, personal
loans, securities brokerage, and other financial products and
services to retail customers from across 414 Indiabulls offices in
127 leading cities of the country
Delhi. Indiabulls Resources Ltd, a 100 per cent subsidiary of
Indiabulls Financial Services Ltd., has been established with the
objective of evolving as an independent oil company over time.
The immediate short-term goal is to partner with oil companies
who are willing to come to India and bid in the current NELP-6
round.

Through its group companies, Indiabulls is also engaged in real

estate development. The company is in the process of developing
modern commercial complexes in the heart of Mumbai. Indiabulls
Estates Pvt Ltd. the real estate arm of Indiabulls Financial
Services, will set up an integrated township spread across 100
acres in Sonepat, 15 km from

MORTGAGE LOANS

Indiabulls has commenced lending of Mortgage Loans to

prospective customers under the flagship of Indiabulls Housing
Finance Ltd. Here we enable home-seekers to access finance to
buy their homes. We also provide plot loans, Loan against
Residential, Commercial and Rental Property, thereby enabling the
borrower to leverage the property owned to fund any legitimate
needs be it Business Expansion, Child's Education, Child's
Marriage or for Holiday Abroad.

THE FOUNDERS

The fast paced growth, diversification and consolidation of the

Group has been possible due to the vision and leadership of the co-
founders of Indiabulls.
Sameer Gehlaut is the Chairman, CEO and Whole Time Director
of Indiabulls. Sameer is an engineer from IIT,Delhi (1995) and has
worked internationally with Halliburton in its international services
business in 1995. He has utilized his experience with the
international best practices and professional work culture at
Halliburton to lead Indiabulls successfully.

Rajiv Rattan is the President, CFO and Whole Time Director of

Indiabulls. Rajiv is an engineer from IIT, Delhi (1994) and has rich
experience in the oil industry, having worked extensively across
the globe in highly responsible assignments with Schlumberger.
Rajiv has managed remote exploration projects providing
evaluation services for different clients in India as well as abroad.

Saurabh Mittal is a Director at Indiabulls. Declared the best

graduating student in IIT, Delhi in (1995), Saurabh was also one of
the engineers selected by Schlumberger to work for its nternational
services business in 1995 and gained experience of working in
various global locations. He graduated as a Baker Scholar with an
MBA from the Harvard Business School. He has also developed
in-depth understanding of international financial markets.
Yatendra Agrawal is President of Indiabulls Resources Ltd. He is
a graduate of IIT Mumbai (1984) & has 22 years of experience in
the oil industry. He has worked internationally with Schlumberger
in Wireline, Data Services and GeoQuest. Having worked in
Egypt, Kuwait and India, Yatendra brings with him a sound
knowledge of exploration and production related practices. After
Schlumberger, Yatendra worked as consultant with Reliance, India
for deepwater exploration as well as high temperature and pressure
wells. He has also provided independent consultancy to various oil
companies in India. Thanks to his work as Manager for
Schlumberger GeoQuest in India, Yatendra has developed and
nurtured wide contacts with key personnel in practically all oil
companies in India.

Indiabulls prides itself in being a thoroughly professional

company and has a proven record of high growth rate and
providing excellent returns for shareholders. We intend to
carry on the same philosophy and work culture to achieve
success in exploration and production related work in India.

Indiabulls is a depository participant with the National

Securities Depository Limited and Central Depository Services
(India) Limited for trading and settlement of dematerialised shares.
Indiabulls performs clearing services for all securities transactions
through its accounts.We offer depository services to create a
seamless transaction platform – execute trades through Indiabulls
Securities and settle these transactions through the Indiabulls
Depository Services. Indiabulls Depository Services is part of our
value added services for our clients that create multiple interfaces
with the client and provide for a solution that takes care of all your
needs.
Objectives Of the Study:
In today’s competitive world where everything is so uncertain
and the competition is so intense that its always making you
stand on your knees foe every change. When your
technology and physical attributes get easily copied by the
competitors it’s only the skills of your employees and their
belongingness with you which can make the difference at
every step. INVESTMENT industry is the knowledge
industry it, the more competitive you are if you have
competitive force with well retained and empowered
employees having good skill set and learning experience.

Thus its imperative to say that motivating the employees is

an important task as well as a must for companies. But for
designing any motivation program its important to analyze
the needs of the people because if policies are not aligned
with the needs the whole system will prove to be a failure.
This is the area where our study is actually working on. It’s
not only defining the various factors of motivation personnel
in INDIABULLS but also analyzing these factors.

Through a interactive office survey with staff including first

line managers and HR people of the respective company to
collect information about the factors of motivation for
employees, feelings of both managers and HR people
regarding these factors and the various activities that the
company is doing to achieve and match the expectations of
the employees regarding these factors. In a broader sense i
have listed out the major objectives of my study as:

 To study the various factors of motivation for

employees in different investment companies.
 What are the personnel motivating factors for
different employees?
 What according to the HR department of the
company motivates employee to work?

 Analyze the employees and employers expectations for

motivational needs.
 How the personnel motivational needs of
employees are aligned to company's
delivered values?
 Do the various fringe benefits provided by the
company to their employees provide
satisfaction to employees?
 Where the gap lies and how the employee’s
suggestions can overcome this?

 Suggesting a framework for motivational policies to give
employees maximum satisfaction.
VISION, MISSION & STRATEGY

HR Vision
"To attain organizational excellence by developing and inspiring
the true potential of company’s human capital and providing
opportunities for growth, well being and enrichment".

HR Mission

"To create a value and knowledge based organization by

inculcating a culture of learning, innovation & team working and
aligning business priorities with aspiration of employees leading
to development of an empowered, responsive and competent
human capital".

HR Strategy

To meet challenging demands of the business environment,

focus of the HR Strategy is on change of the employees
‘mindset’ Building quality culture and resources. Re-engineering
and redeployment for maximizing utilization of HR potential.

Traditional HR processes
 Learning needs Skills Inventories
assessments

Learning Human Resources Planning

Resourcing Performance Management

Selection Profiles Performance Evaluations

Need for Motivation
'Motivation' has common roots with 'motor,' 'momentum,' 'motion,'
'mobile,' etc. all words that denote movement, physical action. An
essential feature of motivation is physical action. Motivation isn't
about what people think or feel but what they physically do. When
motivating people to get results, challenge them to take those
actions that will realize those results
A number of early conceptualizations of job performance posited
that both ability and motivation would jointly contribute to job
performance. While there is a general consensus that the construct
of motivation includes components of direction, amplitude and
persistence. When motivation isn’t clearly defined, the notion that
performance reflects ability and motivation begs the question of
what the measure of motivation might be. Therefore, it is important
to consider relevant motivational characteristics to understand job
performance and early career successfully.
The contribution of General Cognitive Ability (GCA) and
motivation to performance suggests and interaction effect o9f the
type of proposed by early industrial psychologists. Each
component by itself may not strongly predict performance and
ultimately career attainment. A person with very high GCA who is
highly unmotivated may find creative ways to be lazy and does not
perform well. Similarly and industrial person with very low
cognitive abilities should account for variation in performance only
when motivation is considered.
PERFORMANCE = ABILITY × MOTIVATION

Also the fullest representation of humanity show people to be

curios, vital and self motivated. At their best they are agentic and
inspired and striving to learn, extend themselves, master new skills
and apply their talent responsibly.

Now in uncertain economy of the 21st century , more than ever,

organizations face the dilemma of becoming more effective by
improving performance, but without increasing costs. Since this is
an era of artificial intelligence-computer aided designs, computer
aided manufacturing and e-business- the typical response in recent
year has been downsizing, e-engineering and the extensive use of
product, process and information technology. However largely
overlooked and even degraded by downsizing, e-engineering and
the spur for the use of information technology have been human
resource and the role they can play in meeting competitive
demands.
One possible answer to this paradox is that we have tended to take
a negative rather than a proactive positive approach to both
academic and practice sides of managing work performance. As
Bandura (1986) suggests,” unless people belief that they can
produce desired effects and forestall undesired ones by their
actions, they have little incentive to act. Whatever other factors
may operate as motivators, they are rooted in the core belief that
one has the power to produce desired results’.
In addition, people with a positive frame of mind, those on the
motivation path, feel more in control of their lives. They don’t
react like victims when they have a setback. They cheerfully
regroup and try again. Their positive attitude prepares them to take
charge of their own work. They are confident they can do better.
They look within themselves for

the answers. They are easy to motivate because you can tap into
their own internal, or intrinsic, motivation. But people with a
negative frame of mind feel like bad things happen to them. They
feel helpless instead of in control. Minor setbacks knock them off
course for long periods of time. And they do not respond well to
appeals to their internal
motivation. They require large doses of external pressure form
their managers to keep them going. And that’s no fun for
managers. You don’t want to have to push your people up hill. You
want them to pull you up hill. So it’s vital to build the right
emotional foundations for motivation by getting your people into a
positive frame of mind.
The greatest motivational act one person can do for another is to
listen.
- Roy E. Moody, President, Roy Moody and Associates

EXCEPTIONAL PERFORMANCE

ANGER/DEPRESSION
FRUSTRATION
DOWN DEVELOPMENT
CONFIDENCE
UP FEELINGS
 ACTS

VARIABLE PERFORMANCE
Understanding Motivation

The term “motivation” was originally derived from Latin word

movere, which means ‘to move’. However this one word is
obviously an inadequate definition for our purpose here. What is
needed is description that sufficiently covers the various
components and processes associated with how human behavior is
activated.
When we discuss motivation we are primarily concerned with
1. What energizes human behavior, Intensity?
2. What directs or channels such behavior, Direction?
3. How this behavior is maintained or sustained, Persistence?

Each of these three components represents an important factor in

our understanding of human behavior at work. First, this
conceptualization points to energetic forces within individuals that
drive them to behave in certain ways and environmental forces that
often trigger these drives. Second, there is the notion of goal
orientation on the part of individuals; their behavior is directed
towards something. Third, this way of viewing motivation contains
a systems orientation; that is, it considers those forces in
individuals and their surroundings that feedback to the individual
either to reinforce the intensity of their drive and direction to their
energy or to dissuade them from their course of action and
redirects their efforts. These three components of motivation
appear again and again in the theories and our research.

According to Stephen P. Robbins, motivation is:

‘the process that account for an individual’s intensity, direction
and persistence of efforts towards attaining a goal.’

Employee Motivation

Employee motivation is a mystery for many managers. But, it

doesn't have to be. Instead, understanding how motivation impacts
employee performance, and understanding how to use motivation
to improve performance can be reduced to five master keys.
Organizations desiring to improve employee motivation need a
system in place that consistently rewards employee achievements.
I'm always surprised how few organizations have such a system.

However, not all employees respond to the same motivations.

Each person has his or her own likes and dislikes, passions,
interests and desires. The role of the successful manager is to learn
how to identify what motivates each employee, and learn how to
leverage those motives to simultaneously fulfill the goals of the
organization, as well as the goals of each employee.
The five key employee motivation factors include: satisfaction,
appreciation, recognition, inspiration and compensation.

1. Employee Motivation by Building Satisfaction

Regardless your business, the only way to generate sustained

profits is to build a work environment that attracts, focuses, and
keeps talented employees. In other words, they have to be
motivated to show up, get committed and perform at a level of
excellence.

Employee motivation as it relates to employees satisfaction is

vitally important. And, it goes way beyond just a "happier
workforce." Why? Because there is an undeniable link between
satisfied, motivated employees, and satisfied customers. In other
words, focus on creating satisfied employees, focus on employee
motivation, and those motivated, satisfied employees will take care
of your customers.

2. Employee Motivation through Genuine Appreciation

At times, managers unknowingly sabotage employee motivation

by failing to recognize the positive behaviors and achievements of
their employees. As a result, employees don't know whether or not
they are doing a good job. Fortunately, savvy managers can
improve employee motivation by rewarding employees with
personal attention. This can include a pat on the back, a hand-
written note, or a quick comment in the hall.

When showing appreciation, be specific. Instead of just saying,

"We really are grateful for the good job you do around here," the
approach might be, "I really appreciate how you handled the
Franklin Industries account last week when we had to really rush
to dispatch their order in two days. Your effort really made a
difference." By being specific, the employer comes across as much
more sincere, and the employee realizes their actions are truly
being watched. And, a highly level of employee motivation is the
natural result.

3. Employee Motivation through Recognition

Many people will do for recognition what they will not do for
money. And, this is the manager's secret weapon for employee
motivation. Some people are motivated by the opportunity to get
their name on the wall, receive a trophy at an annual banquet, or
see their name in the company newsletter. It gives them an
"emotional payoff" for their actions.
Look for ways to increase employee motivation by recognizing
excellence in the workplace. Ring a bell every time an individual
or team hits the production target. Put up posters with the
photographs of team members who have had the most days without
accidents. Give out awards for attendance records. Just do
something. It is so inexpensive, yet highly effective in your efforts
of employee motivation.

4. Employee Motivation through Inspiration

Inspiration comes from leadership. This form of employee
motivation includes the company's mission, purpose and goals.
People want to be part of an organization that is going somewhere,
that stands for something, and that provides a meaningful service
to the marketplace. If you want to lead an inspired, mission-guided
organization, follow these steps and watch employee motivation
improve dramatically.

1. Have a clear mission - in other words, know where you are

going.
2. Be excited and passionate about your mission. After all, if
you don't get excited, they won't either.
3. Be able to communicate the mission, its value to the
marketplace. In other words, why it's worthwhile.
4. Make sure everyone in the organization understands and can
communicate the mission.
5. Be sure employees understand how they fit into the process
of fulfilling the organization's mission.
6. Make the connection between the mission and the individual
values and goals of your employees.
7. Keep your mission in front of everyone in the organization.

5. Employee Motivation through Compensation

Some employees are motivated by money. In fact, most are
motivated by money; at least for their basic needs. Employee
motivation through compensation can come in the form of raises,
performance bonuses, profit sharing, or any number of "extra
benefits" like, automobiles, vacations, or other tangible items
purchased and used as rewards.
There are two factors which operate to determine if an employee
will be a "problem" employee or if they will be a "motivated"
employee. One of these factors has to do with meeting needs and
achieving goals--Getting that BMW, swimming pool, etc. The
other factor has to do with how meaningful the work is and
whether the person feels they are appreciated for what they do.
Rewards work well when they stimulate high involvement on the
part of employees. You don’t get high involvement unless you’ve
taken care of the basics first. But when you do, then rewards work
very well indeed. What does high involvement mean? Specifically,
employees need to be engaged with the reward or recognition
system on two dimensions: rational and emotional. Only when you
have high involvement on both do you get a motivational bang for
your reward buck, as the HIAM Grid portrays. If you’ve done your
homework as described in earlier sessions, it should be fairly easy
to find a reward or recognition method that generates high
involvement. But if not, no amount of creative effort now will
produce the involvement you need to make a program succeed. As
the grid shows, reward and recognition methods that do not win
employee involvement on either the rational or emotional
dimensions will not get any attention. They will tend to be ignored.
But it could and often is worse! If you generate involvement on
only one of the two dimensions, you will get some attention but it
won’t add up to a positive response. You are likely, in fact, to see
inappropriate or even negative responses to the rewards. They
won’t have the desired effect, but they may have other less desired
affects.
Theories of Motivation

History of Motivation

Most psychological theories of motivation both early and

contemporary have their roots at least to some extent in the
Principle of hedonism. It briefly defines that individuals by
nature tend to seek pleasure and avoid pain. Hedonism
assumes certain degree of conscious behavior on part of
individual whereby they make intentional decisions or
choices concerning future action. The earliest approach
 towards the theory of motivation is based on concept of
instinct.

Instinct Theories

While not injecting the notion of hedonism, psychologists like

James, Freud and Mc Dougall posited two additional
variables that were crucial to our understanding of behavior:
instinct and unconditional motivation.

Instead of seeing behavior as highly rational, these theorists saw

much of its as result of instinct. Mc. Dougall defined it as” an
inherited or innate psychophysical disposition which
determines its possessor to perceive, or pay attention to,
objects of certain class, to experience an emotional
excitement of a particular quality upon perceiving such an
object, and to act in regard to in a particular manner or at
least to experience a impulse of such action.” He saw instinct
purposive and goal-directed other instinct theorists like
James, defined concept more in terms of blind and
mechanical action. James (1890) included in his list of
instincts the following: locomotion, curiosity, sociability,
love, fear, jealousy and sympathy. They believe instincts are
prime determinants of human behavior.
The second major concept is of unconscious motivation. It was
Freud (1915) who most ardently advocated the existence of
this phenomenon. He argued that most potent behavioral
tendencies are not necessarily those that individuals
consciously determine would be in their best interests.
Individuals are not always aware of their desires and
interests. Thus a major factor seen here in human motivation
resulting from forces unknown to individual like slip of
tongue (Freudian slips) and dreams.

Drive and Reinforcement Theories

Drive theory generally assumed that decisions concerning present

are based ion large part on the consequences, individuals
would tend to repeat such actions, where past actions led to
negative consequences or punishment, individuals would
tend to avoid repeating them. This position was elaborated in
“Law of Effect”. The term drive was described as reservoir of
energy that impels an organism to behave in certain ways.
With the introduction of the concept of drive it now became
possible for psychologists to predict in advance at least in
theory not only what goals an individual would strive
towards but also the strength of the motivation towards such
 goals. Hull in 1943 set an equation to individual “impetus to
respond”:

Effort = Drive × Habit

“Habit” was seen as the strength of relationship between past

stimulus and response (S-R) . Thus a motivation to seek
employment would be seen according to this theory as
multiplicative function of the intensity of the need of money
(drive) and the strength of the feeling that work has been
associated with the receipt of money in past (habit). Later in
response to this Hull (1952) somewhat modified his position.
Instead of posting that behavior was wholly a function of
antecedent conditions (such as past experience) he added
incentive variable to his equation. His later formulation was
read as:

Effort = Drive × Habit × Incentive

Classifying Needs

People seem to have different wants. This is fortunate, because in

markets this creates the very desirable situation where, because
you value stuff that I have but you don't, and I value stuff that you
have that I don't, we can trade in such a way that we are both
happier as a result.
But it also means we need to try to get a handle on the whole
variety of needs and who has them in order to begin to understand
how to design organizations that maximize productivity.

Part of what a theory of motivation tries to do is explaining and

predicts who has which wants. This turns out to be exceedingly
difficult.

Content Theories Of Motivation

They assume that factors of motivation exist within the individual

that energize, direct and sustain behavior. These approaches
to motivation are concerned with the identification of
important internal elements and the explanation of how
these elements may be prioritized within the individual.

1. Maslow Hierarchy Of needs

Specific examples of these types are given below, in both the work
and home context. (Some of the instances like "education" are
actually the satisfiers of the need.)

Need Home Job

self- education, religion, training, advancement,
 hobbies, personal
actualization growth, creativity
growth
approval of family, recognition, high status,
esteem
friends, community responsibilities
teams, depts, coworkers,
family, friends,
belongingness clients,supervisors,
clubs
subordinates
freedom from war, work safety, job security,
safety
poison, violence health insurance
physiological food water sex Heat, air, base salary

According to Maslow, lower needs take priority. They must be

fulfilled before the others are activated. There is some basic
common sense here -- it's pointless to worry about whether a given
color looks good on you when you are dying of starvation, or being
threatened with your life. There are some basic things that take
precedence over all else.

Or at least logically should, if people were rational. But is that a

safe assumption? According to the theory, if you are hungry and
have inadequate shelter, you won't go to church. Can't do the
higher things until you have the lower things. But the poor tend to
be more religious than the rich. Both within a given culture, and
across nations. So the theory makes the wrong prediction here.
Cultural critique: Does Maslow's classification really reflect the
order in which needs are satisfied, or is it more about classifying
needs from a kind of "tastefulness" perspective, with lofty goals
like personal growth and creativity at the top, and "base" instincts
like sex and hunger at the bottom? And is self-actualization
actually a fundamental need? Or just something that can be done if
you have the leisure time?

2. Alderfer's ERG theory

Alderfer classifies needs into three categories, also ordered

hierarchically:

• growth needs (development of competence and realization of

potential)
• relatedness needs (satisfactory relations with others)
• existence needs (physical well-being)

This is very similar to Maslow -- can be seen as just collapsing into

three tiers. But maybe a bit more rational. For example, in
Alderfer's model, sex does not need to be in the bottom category as
it is in Maslow's model, since it is not crucial to (the individual's)
existence. (Remember, this about individual motivation, not
species' survival.) So by moving sex, this theory does not predict
that people have to have sex before they can think about going to
school, like Maslow's theory does.

Alderfer believed that as you start satisfying higher needs, they

become more intense (e.g., the power you get the more you want
power), like an addiction.

Do any of these theories have anything useful to say for managing

businesses? Well, if true, they suggest that

• Not everyone is motivated by the same things. It depends

where you are in the hierarchy (think of it as a kind of
personal development scale)
• The needs hierarchy probably mirrors the organizational
hierarchy to a certain extent: top managers are more likely to
motivate by self-actualization/growth needs than existence
needs. (But try telling Bill Clinton that top executives are not
motivated by sex and cheeseburgers...)

3. Mc Clelland’s Learned Needs Theory

Some needs are acquired as a result of life experiences

 • Need for achievement, accomplish something difficult. as
kids encouraged to do things for themselves.
• Need for affiliation, form close personal relationships. as kids
rewarded for making friends.
• Need for power, control others. as kids, able to get what they
want through controlling others.

Again similar to Maslow and Alderfer.

These needs can be measured using the TAT (Thematic

Apperception Test), which is a projection-style test based on
interpreting stories that people tell about a set of pictures.

4. Herzberg’s Two Factor theory

According to Herzberg, two kinds of factors affect motivation, and

they do it in different ways:

• Hygiene factors. These are factors whose absence motivates,

but whose presence has no perceived effect. They are things
that when you take them away, people become dissatisfied
and act to get them back. A very good example is heroin to a
heroin addict. Long term addicts do not shoot up to get high;
they shoot up to stop being sick -- to get normal. Other
 examples include decent working conditions, security, pay,
benefits (like health insurance), company policies,
interpersonal relationships. In general, these are extrinsic
items low in the Maslow/Alderfer hierarchy.
• Motivators. These are factors whose presence motivates.
Their absence does not cause any particular dissatisfaction, it
just fails to motivate. Examples are all the things at the top of
the Maslow hierarchy, and the intrinsic motivators.

So hygiene factors determine dissatisfaction, and motivators

determine satisfaction. The two scales are independent, and you
can be high on both.

If you think back to the class discussion on power, we talked about

a baseline point on the well-being scale. Power involved a threat to
reduce your well-being, causing dissatisfaction. Hence, power
basically works by threatening to withhold hygiene factors.
Influence was said to fundamentally be about promising
improvements in well-being -- when you are influenced to do
something, it is because you want to, not because you were
threatened. Influence basically works by offering to provide
motivators (in Hertzberg’s terms).
Process Theories of Motivation

The attempt to describe how behavior is energized directed and

sustained. These theorists place heavy emphasis on
describing the functioning of the individual’s decision
system as it relates to behavior.

1. Cognitive Evaluation Theory

This theory suggests that there are actually two motivation

systems: intrinsic and extrinsic that corresponds to two kinds of
motivators:

• Intrinsic motivators: Achievement, responsibility and

competence. Motivators that come from the actual
performance of the task or job -- the intrinsic interest of the
work.
• Extrinsic: pay, promotion, feedback, working conditions --
things that come from a person's environment, controlled by
others.

One or the other of these may be a more powerful motivator for a

given individual. Intrinsically motivated individuals perform for
their own achievement and satisfaction. If they come to believe
that they are doing some job because of the pay or the working
conditions or some other extrinsic reason, they begin to lose
motivation. The belief is that the presence of powerful extrinsic
motivators can actually reduce a person's intrinsic motivation,
particularly if the extrinsic motivators are perceived by the person
to be controlled by people. In other words, a boss who is always
dangling this reward or that stick will turn off the intrinsically
motivated people. Cognitive Evaluation is occasionally also
called Self-Perception Theory, although this confuses it with
Bem's Self-Perception Theory.

Example

If you tell me that I have to run for President, I will not exactly
throw my heart into the job. If, however, you tell me how the local
council is looking for someone like me, who wants to help in local
schools, then I'll be there before you have finished the sentence!
Actually, when you ask someone to do something, if you want
them to be motivated then ensure that it falls within their current
level of competency.

2. Vroom’s Expectancy Theory

This theory is meant to bring together many of the elements of

previous theories. It combines the perceptual aspects of equity
theory with the behavioral aspects of the other theories. Basically,
it comes down to this "equation":

M = E× I× V or

Motivation = expectancy × instrumentality × valence

M (motivation) = is the amount a person will be motivated by the

situation they find themselves in. It is a function of the following.

E (expectancy) = the person's perception that effort will result in

performance. In other words, the person's assessment of the degree
to which effort actually correlates with performance.

I (instrumentality) = the person's perception that performance

will be rewarded/punished. I.e., the person's assessment of how
well the amount of reward correlates with the quality of
performance. (Note here that the model is phrased in terms of
extrinsic motivation, in that it asks 'what are the chances I'm going
to get rewarded if I

do good job?'. But for intrinsic situations, we can think of this as

asking 'how good will I feel if I can pull this off?').

V(valence) = The perceived strength of the reward or punishment

that will result from the performance. If the reward is small, the
motivation will be small, even if expectancy and instrumentality
are both perfect (high).

4. Porter-Lawler Model

They agree with Vroom that employee effort is jointly

determined by the valence that employees place a certain
outcomes and the degree to which people believe that their
efforts will lead to the attainment of these rewards. However,
Porter and Lawler emphasize that effort may not necessarily
result in performance. For two reasons:

1. Individual may not have the ability to accomplish to the tasks

that contributes to his/her job. In this case even if employee
is highly motivated performance may not obtain.
2. The person may not have a good understanding of the task to
be performed.

In addition, this model highlights the point that performance and

satisfaction may not necessarily be related to each other. They
defined satisfaction as” extent to which the rewards actually
received meets or exceeds the perceived equitable level of
rewards.” Furthermore, the model indicates that the nature of
task has implications for the satisfaction-performance linkages.
Also, employee’s self rating of performance have a major
 impact on their beliefs about the level of rewards are equitable.
The theory points that rewards are not evaluated in absolute
terms rather they are assessed subjectively .This model can
provide managers with a useful basis for analyzing and
understanding motivational situations in organizational settings.
In addition this model provides guidelines for how
organizations can critically evaluate the effectiveness of their
current reward policies and practices.

1 Abilities & traits 4 Perceived 8

Value of reward
Equitable
Rewards

Intrinsic 7A
Performance 6 Intrinsic
Efforts 3 Performance Rewards
(accomplishment) Rewards
(accomplishment) 9
Satisfaction
Satisfaction
Extrinsic 7B
Extrinsic
Rewards
Rewards
Perceived 2
Role
Perceived Role 5
effort→
effort→reward
reward Perceptio
Perceptio
probability nn
probability

The Porter-Lawler Model of work Motivation

Other Theories Of motivation To Work

1. Equity Theory

Suppose employee A gets a 20% raise and employee B gets a 10%

raise. Will both be motivated as a result? Will A be twice as
motivated? Will be B be negatively motivated?

Equity theory says that it is not the actual reward that motivates,
but the perception, and the perception is based not on the reward in
isolation, but in comparison with the efforts that went into getting
it, and the rewards and efforts of others. If everyone got a 5% raise,
B is likely to feel quite pleased with her raise, even if she worked
harder than everyone else. But if A got an even higher raise, B
perceives that she worked just as hard as A, she will be unhappy.

In other words, people's motivation results from a ratio of ratios: a

person compares the ratio of reward to effort with the comparable
ratio of reward to effort that they think others are getting.

Of course, in terms of actually predicting how a person will react

to a given motivator, this will get pretty complicated:

1. People do not have complete information about how others

are rewarded. So they are going on perceptions, rumors, and
inferences.
2. Some people are more sensitive to equity issues than others
 3. Some people are willing to ignore short-term inequities as
long as they expect things to work out in the long-term.

2. Reinforcement Theory

Operant Conditioning is the term used by B.F. Skinner to describe

the effects of the consequences of a particular behavior on the
future occurrence of that behavior. There are four types of Operant
Conditioning: Positive Reinforcement, Negative Reinforcement,
Punishment, and Extinction. Both Positive and Negative
Reinforcement strengthen behavior while both Punishment and
Extinction weaken behavior.

• Positive reinforcement. Strengthening a behavior. This is the

process of getting goodies as a consequence of a behavior.
You make a sale, you get a commission. You do a good job;
you get a bonus & a promotion.
• Negative reinforcement. Strengthening a behavior. This is the
process of having a stressor taken away as a consequence of a
behavior. Long-term sanctions are removed from countries
when their human rights records improve. (You see how
successful that is!). Low status as geek at Salomon Brothers
is removed when you make first big sale.
 • Extinction. Weakening a behavior. This is the process of
getting no goodies when do a behavior. So if person does
extra effort, but gets no thanks for it, they stop doing it.
• Punishment. Weakening a behavior. This is the process of
getting a punishment as a consequence of a behavior.
Example: having your pay docked for lateness.

Apply Withhold
positive
reinforcement negative reinforcement
Reward
(raise above (raise up to baseline)
baseline)
punishment
(bring down extinction (stay at
Stressor
below baseline)
baseline)

Reinforcement schedules.

The traditional reinforcement schedule is called a continuous

reinforcement schedule. Each time the correct behavior is
performed it gets reinforced.

Then there is what we call an intermittent reinforcement

schedule. There are fixed and variable categories.
The Fixed Interval Schedule is where reinforcement is only given
after a certain amount of time has elapsed. So, if you decided on a
5 second interval then each reinforcement would occur at the fixed
time of every 5 seconds.

The Fixed Ratio Schedule is where the reinforcement is given

only after a predetermined number of responses. This is often seen
in behavior chains where a number of behaviors have to occur for
reinforcement to occur.

The Variable Interval Schedule is where the reinforcement is

given after varying amounts of time between each reinforcement.

The Variable Ratio Schedule is where the reinforcement is given

after a varying number of correct responses.Fluctuating
combinations of primary and secondary reinforces fall under other
terms in the variable ratio schedule; For example, Reinforces
delivered intermittently in a Randomized Order (RIR) or Variable
Ratio with Reinforcement Variety (VRRV).

Fixed Variable
 give reward
after first
proper
give reward after a certain amt of time w/
response
the amt changing before the next reward
following a
Interval
specified time (unexpected bonus based on merit)
period
[medium term]
(yearly raise)

[short term]
punishment
(subtract
from give reward after a number of responses,
baseline) w/ that no. changing before the next
reward
Ratio (commissions
or piecework (team-based bonus)
pay)
[long term]
[medium
term]

3. Traditional theory 'X'

This can best be ascribed to Sigmund Freud who was no lover of
people, and was far from being optimistic. Theory X assumes that
people are lazy; they hate work to the extent that they avoid it; they
have no ambition, take no initiative and avoid taking any
responsibility; all they want is security, and to get them to do any
work, they must be rewarded, coerced, intimidated and punished.
This is the so-called 'stick and carrot' philosophy of management.
If this theory were valid, managers will have to constantly police
their staff, which they cannot trust and who will refuse to
cooperate. In such an oppressive and frustrating atmosphere, both
for the manager and the managed, there is no possibility of any
achievement or any creative work. But fortunately, as we know,
this is not the case.

4. Theory 'Y' - Douglas McGregor

This is in sharp contrast to theory 'X'. McGregor believed that

people want to learn and that work is their natural activity to the
extent that they develop self-discipline and self-development. They
see their reward not so much in cash payments as in the freedom to
do difficult and challenging work by them. The manager’s job is to
'dovetail' the human wish for self-development into the
organizations need for maximum productive efficiency. The basic
objectives of both are therefore met and with imagination and
sincerity, the enormous potential can be tapped. Does it sound too
good to be true? It could be construed; by some, that Theory 'Y'
management is soft and slack. This is not true and the proof is in
the 'pudding', for it has already proved its worth in the USA and
elsewhere. For best results, the persons must be carefully selected
to form a homogeneous group. A good leader of such a group may
conveniently 'absent' from group meetings so they can discuss the
matters freely and help select and 'groom' a new leader. The leader
does no longer hanker after power, lets people develop freely, and
may even (it is hoped) enjoy watching the development and
actualization of people, as if, by themselves. Everyone and most of
all the organizations, gains as a result.

5. Theory 'Z' - Abraham Maslow

This is a refreshing change from the theory X of Freud, by a fellow

psychologist, Abraham Maslow. Maslow totally rejects the dark
and dingy Freudian basement and takes us out into the fresh, open,
sunny and cheerful atmosphere. He is the main founder of the
humanistic school or the third force who holds that all the good
qualities are inherent in people, at least, at birth, although later they
are gradually lost.
Maslow's central theme revolves around the meaning and
significance of human work and seems to epitomize Voltaire's
observation in Candide, 'work banishes the three great evils
-boredom, vice and poverty'. The great sage Yajnavalkya explains
in the Brihadaranyaka Upanishad that by good works a man
becomes holy, by evil works evil. A mans personality is the sum
total of his works and that only his works survive a man at death.
This is perhaps the essence of Maslow's hierarchy of needs
theory, as it is more commonly know.

Maslow's major works include the standard textbook (in

collaboration with Mittlemann), Principles of Abnormal
Psychology (1941), a seminal paper, 'A Theory of Human
Motivation' (1943) and the book, Eupsychian Management
(pronounced yew-sigh-keyan) published in 1965. Maslow's theory
of human motivation is, in fact, the basis of McGregor's theory 'Y'
briefly described above. The basic human needs, according to
Maslow, are:

• physiological needs (Lowest)

• safety needs;
• love needs;
• esteem needs; and
• self-actualization needs (Highest)
Mans behavior is seen as dominated by his unsatisfied needs and
he is a 'perpetually wanting animal', for when one need is satisfied
he aspires for the next higher one. This is, therefore, seen as an
ongoing activity, in which the man is totally absorbed in order to
attain perfection through self-development.

The highest state of self-actualization is characterized by integrity,

responsibility, magnanimity, simplicity and naturalness. Self-
actualizers focus on problems external to themselves. His
prescription for human salvation is simple, but not easy: 'Hard
work and total commitment to doing well the job that fate or
personal destiny calls you to do, or any important job that "calls
for" doing'.

Maslow has had his share of critics, but he has been able to achieve
a refreshing synthesis of divergent and influential philosophies of:

• Marx - economic and physical needs;

• Freud - physical and love needs;
• Adler - esteem needs;
• Goldstein - self-actualization.
A picture showing a approach of Theory X and Theory Y
Research Methodology

 Study of literature related to motivation, its sources, factors

affecting it and various methods used by organizations to
motivate their employees from various books on motivation
and articles on internet and magazines.
 Developing the checklist of information required for the
project.
 Selection of target audiences and respondents. Here in this
project there are Two respondents they are:
 The BRANCH HEAD
 The EMPLOYEESS
 Gather the information related to
 Different INDIABULLS branches
 About the company
 About the employees
 About the working conditions
 Collect facts and datas
 Developing a questionnaire based in above studied literature
and information gathered.
 Information will be collected through interviews and
questionnaires.
 Finalization of the questionnaire and work plan.
  Approaching to the HR managers of VARIOUS
BRANCHES.
 Preparation of data tables and analysis of the information
gathered.
 Report Writing.

Research Design:

Exploratory Cum Descriptive study has been adopted for the study
to analyze and define the factors of motivation intrinsic and
extrinsic for HUMAN RESOURCE planning at Indiabulls

Data Collection Method:

• Structured questionnaire was designed for data collection.
• Personal interview was conducted for collecting information
• The study was carried out in a form of survey process
Questionnaire Designing
No survey can achieve success without a well-designed
questionnaire. Questionnaire design is more of an art than a
science. A well designed questionnaire should have the following
attributes:

1. A well-designed questionnaire should meet the research

objectives. Every survey is bound to leave some questions
unanswered and provide a need for further research but the
objective of good questionnaire design is to 'minimize' these
problems.

2. It should obtain the most complete and accurate information

possible. The questionnaire designer needs to ensure that
respondents fully understand the questions and are not likely to
refuse to answer, lie to the interviewer or try to conceal their
attitudes. A good questionnaire is organized and worded to
encourage respondents to provide accurate, unbiased and complete
information.

3. A well-designed questionnaire should make it easy for

respondents to give the necessary information and for the
interviewer to record the answer and it should be arranged so that
sound analysis and interpretation are possible.
4. It would keep the interview brief and to the point and be so
arranged that the respondent(s) remain interested throughout the
interview.

There are nine steps involved in the development of a

questionnaire:

1. Decide the information required.

2. Define the target respondents.
3. Choose the method(s) of reaching your target respondents.
4. Decide on question content.
5. Develop the question wording.
6. Put questions into a meaningful order and format.
7. Check the length of the questionnaire.
8. Pre-test the questionnaire.
9. Develop the final survey form

Keeping in view of all the above points we have designed our

questionnaire for study different for different class of respondents .
DATA ANALYSIS FOR EMPLOYEES
FOR ALL THE DATA ANALYSIS n=30

QUALIFICATIONS OF EMPLOYYES

RESPONSES Frequency Percentage

MBA 5 17
M com 6 20
B com Hons(accounting) 7 23
B com 9 30
P G Diploma 2 7
BA 1 3

Rank top five among following factors important to you while

choosing your career?

Responses Frequency Percentage

Career Opportunities 25 83
Money or pay package 23 77
Recognition/Praise 17 57
Knowledge gaining 15 50
Drive for Achievement 11 37
Self Motivation 11 37
Job Security 8 27
Comfortable working
environment 9 30
Social affiliation or social
acceptance 7 23
Balancing health and job
profile 12 40
Materials/Possessions 22 73
Why did you join this company (where you are presently working)

Responses Frequency Percentage

Company reputation/name 19 63
Career opportunities 17 57
Attractive Salary 25 83
Referred by a friend 5 17
Advertisement 8 27
Completed any course had to
take a course 4 13
Comfortable and easy job 9 30
Offer by the company 6 20
Professional hike 6 20
By chance 2 7
Campus Placement 5 17

What is making you stay in this company?

Responses Frequency Percentage

Work Culture 17 57
Career Advancement 16 53
Reputation of the company 19 63
Compensation/benefits 21 70
Job Itself 22 73
Supervisor Relations 11 37
Good environment 10 33

Does the recruitment program of your company reflect the job

profile?
 Responses Frequency Percentage
Yes 23 77
No 7 23

How is your relationship with your supervisors?

Responses Frequency Percentage

Open 10 33
Formal 9 30
Casual 7 23
Stringent 4 13

How is your relationship with your peers?

Responses Frequency Percentage

Friendly 18 60
Work Related 12 40

How long do you planning to continue your career with this

company?
 Responses Frequency Percentage
Less than a year 4 13
One to two year 15 50
Two to five years 5 17
More than five years 3 10
Don’t Know 3 10

How do you Rank your company on a 10 point basis?

Responses Frequency Percentage
1 0 0
2 0 0
3 0 0
4 0 0
5 4 13
6 6 20
7 8 27
8 6 20
9 4 13
10 2 7
What discourages you in you current profession?

Responses Frequency Percentage

Non recognition of
achievement 3 10
Competition 5 17
Poor Salary Package 11 37
Nothing 4 13
Lack of career opportunities or
growth 7 23
Working Style 8 27
Less Monetary benefits 9 30
Lack of respect for employees 9 30
Management non co-operation 6 20
Evening Working 7 23
Incentives are not distributed
timely 7 23
Activities which do not fall in
the job profile 5 17
Age factor because of moving
job 3 10
Increase in politics in the
organization 4 13
Higher micro-management 2 7
Non-achievement of targets 6 20
DATA ANALYSIS OF BRANCH HEAD
Since MR. Nikhil gupta being the single authority responsible for
managing resources at jodhpur branch of indiabulls his replies are
as follows:
Tell me about your company.
□Indian

2 What motivates a Employee according to you

(please rank them)
___2__ Career Opportunities
___4__ Comfortable working environment
___7__ Balancing health and job profile
___5__ Knowledge gaining
___3__ Materials/Possessions
___6__ Recognition/Praise
___8__ Job Security
___1__ Money or pay package
__11__ Social affiliation or social acceptance
_ _9__ Drive for Achievement
__10____Self Motivation

3. How is the working environment at you work place?

□Friendly
4. How do you carry out the recruitment program at your
organization?
□Campus
□Internet
□Newspaper Advertisement
5. How is the recruitment program at your organization?
□Average

6. What is your company’s reward system based upon?

Performance Based
Seniority based
Time Based
Profit Based
Variable Compensation

7.How will you rate your company on the scale of 1-10 on the
basis of current HR initiatives (10-highest)

Rating: 9
FINDINGS
An obvious yet overlooked fact is fact is that success on a job is
facilitated or hindered by the existence or absence of support
resources. A popular, although simplistic, way of thinking about
employees performance is a function (f) of the interaction of ability
(A) and motivation (M): that is performance-f (A×M). If either is
inadequate performance will be negatively affected. An
employee’s skills and intelligence (under label ability) must be
considered in addition to motivation if we are able to accurately
predict employee performance. But a piece of puzzle is still
missing i.e. we need to add opportunity to perform (O) to our
equation performance=f (A×M×O). This new variable in the
equation of performance is the finding of our study. The results
shows that for most of the EMPLOYEES career opportunities,
recognition, and money are the prime and the most effective
motivators , HR people and sales managers do feel the same but
the gap still lies there and that is nothing more that opportunity to
perform. This can be facilitated by better training programs, more
customized incentive plans as per the work areas and by providing
rational targets to these MR.

Although EMPLOYEES provides quite a good rating to their

company but when it comes to their Dream Companies or the
Companies they would like to work on or the Top rated Companies
as per the Managers they are few who choose their own company
where they are actually working. This is an important conclusion
to be drawn despite of some top rated MNC Companies but they
are still not on top of the mind of their employees. Among the
Indian Companies EMPLOYEES are more inclined for MNC ones
because they believe their salary package, career opportunities and
recognition for achievement is at higher side and they believe in
empowerment of employees and giving their EMPLOYEE enough
job autonomy under the boundaries of their job profile.

Among Indian Companies KOTAK MAHINDRA SECURITIES,

BAJAJ ALLIANZ,TATA CONSULTANCY SERVICES (TCS)
etc are favored for their Work culture but for rest of them
unprofessional attitude and even the work culture is the reason for
de-motivation among employees.
Coming to other findings of the study as stated in the analysis part
MNC Companies are the most rated companies among both HR
and Sales People because of their package, work culture,
opportunities of growth and their HR policies, this can be easily
reflected in the attrition rate at these companies which is not more
that 10% in any of these companies whereas among Indian ones its
as high as 40% which is quite a big amount. The most loved
among MNC is PRICE WATERHOUSE COPPER , etc
An interesting thing which came out of the study that the job of a
employee is quite un-predictive by the time he is getting
promotions he is there in the company and after that he leaves for
most of the cases the reason is higher pay and once again career
opportunities and hence what we have stated above that by giving
opportunities for growth and development and bringing
transparency in the company policies and believing in
empowerment of employees companies are able to manage the
third variable that is opportunity to perform which will not only
effect their performance but also bring a belonging for the
company. Indian companies need to work hard in that regards
otherwise the MNC will sweep away them from the market.
Because a successful company is a company which has its
employees happy as happy employees accounts for both profits as
well as reputation of the company
RECOMMENDATIONS
I have in our study presented a lot of suggestions from the
employees and their expectations from the company which could
be a framework for better motivational policies. While its always
dangerous as well as difficult to synthesize a large number of
complex ideas into a few simple guidelines, the following
suggestions summarize the essence of our findings as follows:

 Recognize individual differences: Employees have different

needs, don’t treat them alike. Moreover, spend the time
necessary to understand what is important to each of the
employee. This will allow you to better customize the goals
and incentive plans for the MR.

 Use feedback: For any policy or new framework ask their

feedback as they are directly dealing with the customers and
are present on the market and the field unlike other
management people, hence their feedback and suggestions
will bring a real-time scenario of the market.

 Allow EMPLOYEES to participate in decisions that

affect them: especially when setting their targets and work
are plans so that their suggestions not only bring satisfaction
 but also a feeling of belongingness as well as responsibility
for their job.

 Link rewards to performance: It is very important that not

even a single cell of their performance matrix get unfilled by
the recognition. Target achievement is necessary but small
achievements should also be a concerned for the company as
every call at their job gives company some benefit. This can
be done by preparing a proper equation for their incentive
plan and performance structure considering a third fixed
variable for area of work as work areas also affects their
performance at jobs.

 Last but not the least EMPLOYEE should be treated as are

assets for the company: they should be evaluated and
maintained properly otherwise the disequilibrium between
their individual needs and company’s deliverables will
slowly and slowly rotten the roots of the company.
Limitations of the Study

There is no job which finishes without any hurdles and limitations.

So is my project, when I was carrying out my study I too had to
face many limitations which are sometime out of my control and
some because of the procedures we follow as a byproduct of our
methodology. My aim was to minimize the effect of these
limitations with proper consultation with our company and faculty
guide as well as with proper precautions and concentration in my
work.
Since the sample size of my study is quite big hence possibility of
errors are also there. The error may be due to the quite a big
variety of people Iam dealing with, their characteristics and
opinions effects the findings of my project. Some of the major
limitations I had to face during the study are:

ℵ Since the findings of the project totally depend upon the

responses of the respondents hence the possibility of having
less qualitative result is very high.
ℵ Respondent’s answers to the questionnaire more or less
depend upon their moods at the time of interview.
ℵ Companies policies and regulations against disclosing the
various necessary information also affects the quality of data.
ℵ Since the survey deals with employees hence sometimes
questionnaire remains half-filled.
ℵ Also we are new to the survey process and questionnaire
designing and lack of experience had wasted quite a valuable
time of mine in getting the perfection at my work.
ANNEXURE I

Questionnaire for BRANCH HEAD

Name:
Company:
Designation:
Work Experience: _________
Contact No. : _________________ Email ID: _________________

1 Tell me about your company.

□Indian □MNC □Public Ltd □Pvt Ltd □Family Owned

2 What motivates a Employee according to you? ( Please rank them)

_____ Career Opportunities
_____ Comfortable working environment
_____ Balancing health and job profile
_____ Knowledge gaining
_____ Materials/Possessions
_____ Recognition/Praise
_____ Job Security
_____ Money or pay package
_____ Social affiliation or social acceptance
_____ Drive for Achievement
______Self Motivation
_____ others _______________________________________________

3. How is the working environment at you work place?

□Friendly □Informal □Formal □Semiformal
4. How do you carry out the recruitment program at your organization?
□Campus
□Internet
□Newspaper Advertisement
□Recruitment Agencies
□Job Consultancies
□Others__________________________________________________

5. How is the recruitment program at your organization?

□Stringent □Average □Easy to get through

6. What is your company’s reward system based upon?

□Performance Based □Seniority based □Time Based
□Profit Based □Variable Compensation
Other______________________________________________________

7. How will you rate your company on the scale of 1-10 on the basis of
current HR initiatives (10-highest) and why?
Rating:____________________________________________________
Reasons:___________________________________________________
___________________________________________________________
ANNEXURE II

Questionnaire for EMPLOYEES

Name:
Company: Division:
Designation:
Work Experience: : ________
Contact No. : _____________ E-mail ID: ___________________
Basic Qualification: ________________________________

1. Rank top five among following factors important to you while

choosing your career?
______ Career Opportunities
______ Comfortable working environment
______ Balancing health and job profile
______ Knowledge gaining
______ Materials/Possessions
______ Recognition/Praise
______ Job Security
______ Money or pay package
______ Social affiliation or social acceptance
______ Drive for Achievement
______ Self Motivation
______ Others
___________________________________________________

2. What attracted you to join this company?

□Completed any course, had to take a job
□Referred by a friend
□Attractive Salary □Company’s reputation/Name
□Career Opportunities □Advertisement
□Comfortable and easy job
Others _________________________________________________
 3. What is making you to stay in this company?
□Job itself □Supervisor relations □Compensation / benefits
□Work Culture □Career advancement □Reputation of the company

Other __________________________________________________

4. Does the recruitment program of your company reflect the job profile?
□Yes □No

5. What is your relationship with your supervisors?

□Open □Casual □Formal □Stringent

6. What is your relationship with your peers?

□Friendly □Work related

7. How long do you plan to continue your career with this company?
□Less than a year □One to two years □Two to five years
□More than five years □Don't know

8. On the basis of current motivation policies how will you rate your
company on a 10-point scale (10-highest) and why?
Rating:____________________________________________________

9. What discourages you in you current profession?

____________________________________________________________
________

10. Name of your dream company?

BIBLIOGRAPHY
Books:

 Organizational Behavior
By: Stephens Robbins
 Advances in Qualitative Organizational Research Vol.4
By: John A Wagner III , Jean M Brutnek, Kimberley D Elspach
 Measuring and improving employee motivation
By: Peter Fargus
 Effective Motivation
By: John Adair
 Motivating & Retaining Employees
By: Barbara A Glanz
 Motivation and Work Behavior
By: Lyman w. Porter, Gregory a. Bigley, Richard M. Steers
 The 7 Habits of Highly Effective People
By: Stephen Covey

Internet:

 www.infosurv.com
 www.hbr.org
 www.google.com
 http://changingminds.org/explanations/theories/a_motivation.htm
 www.businesstitles.com
 www.psychonomics.de/article/articleview/98/2/46
 www.performanceforum.com
 www.hrresults.com
 www.questionpro.com
 www.surveydesign.com
 www.PeopleBuilders.com
 www.allsites.com
 www.indiabulls.com
 What I had learnt from my Project?

There is no learning if there are no mistakes or hurdles in the path

of any job. We learn from our mistakes. During the course of any
project apart from the findings there are set learnings during the
working phase which not only helps in experience gaining and
knowledge build up but also helps in overall personality
development. It was a wonderful experience during the course of
my project. Not only I had learned some good Market Research
Techniques but the project had also helped in building my
Communication and soft skills. As during the project I came across
a variety of people with different mindset and characteristics
dealing with these different people and extracting information from
them in a professional and ethical way with least possibility of
error is itself a great learning experience.

Other important learnings from the project are:

• The most important learning from the project is about

motivation and how the theory is actually practiced in
practical.
• While working on the project I came across the real scenario
in a corporate world i.e. how things actually work , what is
the code of conduct and etc
• For any survey activity the foremost important thing is a well
built questionnaire which involves a lot of skills and
experience, this is my first chance when I was designing the
questionnaire for my survey process, I came across many
hurdles and many problem areas and dealing them improves
my skills and a good learning experience of designing an
practical questionnaire for survey.