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1.1 OVERVIEW OF INDUSTRY AS A WHOLE:- Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises. As of 2004, the financial services industry represented 20% of the market capitalization of the S&P 500 in the United States. According to the Global 2000 (annual report by Forbes), seven of the world’s top 10 companies belonged to the financial industry. These included Citigroup, Bank of America, HSBC Holdings and JPMorgan Chase. Their combined revenues in 2007 were worth $645 1
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Page 1: Employee Satisfaction Kotak Mahindra


Financial services refer to services provided by the finance

industry. The finance industry encompasses a broad range of

organizations that deal with the management of money. Among

these organizations are credit unions, banks, credit card companies,

insurance companies, consumer finance companies, stock

brokerages, investment funds and some government sponsored

enterprises. As of 2004, the financial services industry represented

20% of the market capitalization of the S&P 500 in the United


According to the Global 2000 (annual report by Forbes), seven of

the world’s top 10 companies belonged to the financial industry.

These included Citigroup, Bank of America, HSBC Holdings and

JPMorgan Chase. Their combined revenues in 2007 were worth

$645 billion, down from the 2006 high of $785 billion.

According to the Fortune 500 rankings, in 2006 financial services

generated $257 billion in profits, a third of total Fortune 500

profits. In 2008, however, they lost a staggering $213 billion, a

total swing of $470 billion. Big players on the list, such as

Citigroup and Bank of America, may only be alive today thanks to

government money.


Page 2: Employee Satisfaction Kotak Mahindra

The finance industry is an industry in itself as well as an ancillary

that supports other industries. Trade and commerce across the

world would come to a standstill if there was no means to fund,

pay and protect the transactions, hence the need for governments to

support the financial services industry when companies that are

‘too big to fail’ are close to collapse.


Financial services organizations are striving to achieve

increasingly ambitious profit and growth targets against a

background of heightened risk, regulation and market pressures.

Customer needs and expectations are evolving in the face of

increasing personal wealth, more private funding of pensions and

health care and the desire for ever more accessible and

personalized financial products and services. In turn, intense

competition has squeezed industry margins and forced

organizations to cut costs while still seeking to enhance the quality

of client choice and service. The battle for talent is also heating up

as companies seek to enhance innovation, customer loyalty and


The corollary of this market evolution is increasing risk as

products become more complex, organizations more diffuse and


Page 3: Employee Satisfaction Kotak Mahindra

the business environment ever more uncertain. Regulation is also

tightening in the wake of public and government pressure for

improved governance, transparency and accountability.

In this environment, the winners will be companies that can turn

the challenges into opportunities to build stronger and more

enduring customer relationships; sharpen process efficiency;

unlock talent and creativity; use improved risk management

processes to deliver more sustainable returns; and use new

regulatory demands as a catalyst for strengthening the business and

enhancing market confidence.

The Automotive industry in India is one of the largest in the world

and one of the fastest growing globally. India manufactures over

17.5 million vehicles (including 2 wheeled and 4 wheeled) and

exports about 2.33 million every year. It is the world's second

largest manufacturer of motorcycles, with annual sales exceeding

8.5 million in 2009. India's passenger car and commercial vehicle

manufacturing industry is the seventh largest in the world, with an

annual production of more than 3.7 million units in 2010.

According to recent reports, India is set to overtake Brazil to

become the sixth largest passenger vehicle producer in the world,

growing 16-18 per cent to sell around three million units in the

course of 2011-12. In 2009, India emerged as Asia's fourth largest


Page 4: Employee Satisfaction Kotak Mahindra

exporter of passenger cars, behind Japan, South Korea, and


As of 2010, India is home to 40 million passenger vehicles and

more than 3.7 million automotive vehicles were produced in India

in 2010 (an increase of 33.9%), making the country the second

fastest growing automobile market in the world. According to the

Society of Indian Automobile Manufacturers, annual car sales are

projected to increase up to 5 million vehicles by 2015 and more

than 9 million by 2020. By 2050, the country is expected to top the

world in car volumes with approximately 611 million vehicles on

the nation's roads.

A chunk of India's car manufacturing industry is based in and

around Chennai, also known as the "Detroit of India" with the

India operations of BMW, Ford, Hyundai and Nissan

headquartered in the city. Chennai accounts for 60 per cent of the

country's automotive exports. Gurgaon and Manesar in Haryana

are hubs where all of the Maruti Suzuki cars in India are

manufactured. The Chakan corridor near Pune, Maharashtra is

another vehicular production hub with companies like General

Motors, Volkswagen, Skoda, Mahindra and Mahindra, Tata

Motors, Mercedes Benz, Fiat and Force Motors having assembly

plants in the area. Ahmedabad with the Tata Nano plant, Halol

with General Motors, Aurangabad with Audi, Kolkata with


Page 5: Employee Satisfaction Kotak Mahindra

Hindustan Motors, Noida with Honda and Bengaluru with Toyota

are some of the other automotive manufacturing regions around the



The most essential element in the process of development and

growth of the country is finance. The economy of a country

becomes crippled without the flow of finance and the economic

growth is stunted. Monitory resources can be channelized only

with the help of a proper financial infrastructure. An effective

financial system in the form of banks and financial institutions

offer economical lending and borrowing.

Kerala boasts of a well-developed financial infrastructure. With

progressing time Kerala financial system has attained a high

benchmark. There are many prominent participants in the finance

sector in kerala . They includes Kotak Mahindra Prime Limited,

HDFC, Sundaram Finance and so on.



Indian Automobile Loan Industry involves a lot of credit providers.

It is because of Indian automobile market is one of the fast


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growing largest markets in the world. Compared with the European

market, American market and the Japanese market, the specialty of

Indian market is that it accepts all price range of vehicles .On the

basis of nature of business, automobile car providers are mainly

classified as follows:


The major players of the Finance Industry can be categorized into

2 groups. They are as shown in Fig 2-1 :


Non-Banking Financial Institutions

Banking Financial Institutions

Major players


Page 7: Employee Satisfaction Kotak Mahindra


There are many Banking and Financial institutions in India. The

major institutions among them are stated in Tab-1:





State Bank group ICICI Bank

Axis Banks HDFC Bank

Union Bank Kotak Mahindra Prime Limited

Saraswat Coperative Bank Tata Motors finance Limited

Standard Chartered Bank Financial Services Company of Fiat

Citi Bank

Citicorp MarutI


Page 8: Employee Satisfaction Kotak Mahindra

Sundaram Finance

Associate Finance


The industry holds a number of efficient and eminent competitors.

The major competitor involves:


HDFC Bank.

Reliance Capital Limited.

Axis Bank.

State Bank Group.

Mahindra Finance.

Co-operative Bank.


Sundaram Finance.

South Indian Bank Limited.

The financial statuses of various competitors are:


Page 9: Employee Satisfaction Kotak Mahindra


Last Price

Market Cap.

(Rs. cr.)

Net InterestIncome

Net Profit

Total Assets


1,060.20 122,110.91 25,974.05 5,151.38 363,399.71


2,559.15 119,058.23 19,928.21 3,926.39 277,352.61

Axis Bank 1,305.95 53,789.58 15,154.81 3,388.49 242,713.37

Kotak Mahindra

480.90 35,436.15 4,303.56 818.18 50,850.66

IndusInd Bank

287.50 13,396.64 3,589.36 577.32 45,635.85


322.25 11,186.82 4,041.74 727.13 59,007.00

Federal Bank

460.55 7,873.78 4,052.03 587.08 43,675.61

Karur Vysya

420.20 4,913.82 2,217.69 415.59 21,993.49

JK Bank 849.20 4,116.73 3,713.13 615.20 50,508.15

ING Vysya Bank

328.35 3,972.60 2,694.06 318.65 33,880.24



Page 10: Employee Satisfaction Kotak Mahindra


Balance Sheet

Kotak Mahindr




Axis Bank

Mar '11 Mar '10 Mar '11 Mar '11Capital and Liabilities:Total Share Capital

368.44 1,114.89 465.23 410.55

Equity Share Capital

368.44 1,114.89 465.23 410.55

Share Application Money

0.00 0.00 0.00 0.00

Preference Share Capital

0.00 0.00 0.00 0.00

Reserves 6,464.95 50,503.48 24,914.04 18,588.28Revaluation Reserves

0.00 0.00 0.00 0.00

Net Worth 6,833.39 51,618.37 25,379.27 18,998.83Deposits 29,260.97 202,016.6



0Borrowings 11,723.95 94,263.57 14,394.06 26,267.88Total Debt 40,984.92 296,280.1



8Other Liabilities & Provisions

3,032.36 15,501.18 28,992.86 8,208.86

Total Liabilities

50,850.67 363,399.72




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Kotak Mahindra



Axis Bank

Mar '11 Mar '10 Mar '11 Mar '11AssetsCash & Balances with RBI

2,107.72 27,514.29 25,100.82 13,886.16

Balance with Banks, Money at Call

363.26 11,359.40 4,568.02 7,522.49

Advances 29,329.31 181,205.60



Investments 17,121.44 120,892.80

70,929.37 71,991.62

Gross Block 831.80 7,114.12 5,244.21 3,426.49Accumulated Depreciation

406.20 3,901.43 3,073.56 1,176.03

Net Block 425.60 3,212.69 2,170.65 2,250.46Capital Work In Progress

0.00 0.00 0.00 22.69

Other Assets

1,503.33 19,214.93 14,601.08 4,632.12

Total Assets 50,850.66 363,399.71



Contingent Liabilities

12,291.30 694,948.84



Bills for collection

4,470.06 38,597.36 28,869.10 57,400.80

Book Value (Rs)

92.74 463.01 545.53 462.77


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Product Mix contains mainly the following 2 contents :

1. High yield products where the risk is high like :

- Personal loan.

- Used Car Financing.

2. Low yield products where the risk is low like :

- New car financing.


A) Margin Money Scheme –

In this scheme KMPL part finance the car from

65% - 90% for certain models. The customer will have to make


Page 13: Employee Satisfaction Kotak Mahindra

down payment for the margin amount. The financed amount can be

repaid through Equated Monthly Installments.

B) Advanced EMI Scheme –

In this scheme the customer has to pay few

installments upfront. The balance is payable through EMI. It helps

the customer to pay off the loan faster.


The customers of KMPL are of two types :

1. External customers: includes the customers and dealers.

2. Internal customers: includes all the employees.


It can be in two ways. They are product wise segmentation and

customer wise segmentation.

Product wise segmentation like luxury cars, premium cars,

standard cars, new cars and used cars. Customer wise segmentation

like government, employees. Businessmen. NRIs etc.



Page 14: Employee Satisfaction Kotak Mahindra

The entire working of Kotak Mahindra is based on MBO

(management by objectives). In each quarter every division has to

decide its own objectives and targets. This target is fixed by

superiors and subordinates jointly. So each person has Key Results

Area (KRA ) and that person is reasonable for achieving his

targets. KRA can be function wise and target wise. Sometimes they

may have to redefine KRA’s due to the impact of external

environment. For example, if KRA is defined on the basis of

expectation that the industry will grow by 10 and it may decline by

that much percentage instead of growing. In such cases KRA’s will

be redefined. Senior sales manager is responsible for state wise

sales target and Senior Sales Executive is responsible for

functional targets. In each quarter company makes appraisal on the

performance of that quarter. It follows 360 degree methods of

appraisal. So each one will be evaluated by himself, superiors and

subordinates. As per the appraisal they categorize the

performances as mentioned below:


Outstanding – 150%

above target


Page 15: Employee Satisfaction Kotak Mahindra

Exeeds expectation – 100%-

150% above target

Meets expectation – 80%-

100% of target

Below expectations – below

80% of target

The salary and incentives in Kotak is based on performance. So

outstanding and exceeds expectation performance will invite

higher salary, incentives and promotion, performance below

expectation will be counted as bad performance.


The following are the limitations that are observed in the study.

The survey is subjected to the bias and prejudius of the

respondents. Hence, 100% accuracy cannot be assured.

The researcher was carried out in a short span of time, where

in the researcher could not widen the study.


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The study could not be generalized due to the fact that researcher

adapted personal interview method.


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1. Measure job satisfaction of the employees of Kotak Mahindra.

2. To assess the general attitude of the employees towards Kotak


3. To assess the level of commitment across process and facilities.

4. To analyse the strengths and weakness of Kotak Mahindra as an



Page 18: Employee Satisfaction Kotak Mahindra


Research can be defined to be search for knowledge or any

systematic investigation to establish facts. The primary purpose for

applied research is discovering interpreting and the development of

methods and systems for the advancement of human knowledge on a

wide variety of scientific matters of our world and the universe.

Research Methodology is initiated before undertaking the research

and a foundation was laid in form of a research design, sampling,

method of data collection and different analysis technique.

Research Methodology can be defined as:

1) The analysis of the principles of methods, rules, and postulates

employed by a discipline;

2) The systematic study of methods that are, can be, or have been

applied within a discipline or a particular procedure or set of



The main emphasis of the study was on employees working in

Kotak Mahindra.


Page 19: Employee Satisfaction Kotak Mahindra


A research design is considered as the framework or plan for a study

that guides as well as helps in the data collection and analysis of

data. Research can classify in one of three categories:

Exploratory research

Descriptive research

Causal research

These classifications are made according to the objective of the

research. In some cases the research will fall into one of these

categories, but in other cases different phases of the same research

project will fall into different categories.

● Exploratory research has the goal of formulating problems more

precisely, clarifying concepts, gathering explanations, gaining

insight, eliminating impractical ideas, and forming hypotheses.

Exploratory research can be performed using a literature search,

surveying certain people about their experiences, focus groups, and

case studies. When surveying people, exploratory research studies

would not try to acquire a representative sample, but rather, seek to

interview those who are knowledgeable and who might be able to

provide insight concerning the relationship among variables. Case

studies can include contrasting situations or benchmarking against


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an organization known for its excellence. Exploratory research may

develop hypotheses, but it does not seek to test them. Exploratory

research is characterized by its flexibility.

● Descriptive research is more rigid than exploratory research and

seeks to describe users of a product, determine the proportion of the

population that uses a product, or predict future demand for a

product. As opposed to exploratory research, descriptive research

should define questions, people surveyed, and the method of

analysis prior to beginning data collection. In other words, the who,

what, where, when, why, and how aspects of the research should be

defined. Such preparation allows one the opportunity to make any

required changes before the costly process of data collection has

begun. There are two basic types of descriptive research:

longitudinal studies and cross-sectional studies. Longitudinal studies

are time series analyses that make repeated measurements of the

same individuals, thus allowing one to monitor behaviour such as

brand-switching. However, longitudinal studies are not necessarily

representative since many people may refuse to participate because

of the commitment required. Cross-sectional studies sample the

population to make measurements at a specific point in time. A

special type of cross-sectional analysis is a cohort analysis, which

tracks an aggregate of individuals who experience the same event


Page 21: Employee Satisfaction Kotak Mahindra

within the same time interval over time. Cohort analyses are useful

for long-term forecasting of product demand.

● Causal research seeks to find cause and effect relationships

between variables. It accomplishes this goal through laboratory and

field experiments.

The research associated to my project is DESCRIPITIVE



An Employee-based survey was conducted in which 40 people were

asked to fill the questionnaire. I will be using statistical method for

sample size determination.


The researcher has used a structured questionnaire as a research

instrument tool which consists of open ended questions, multiple

choice questions and dichotomous questions in order to get data.

Thus, the questionnaire is the data collection instrument used in the

study. All the questions in the questionnaire are organized in such

ways that elicit all the relevant information that is needed for the



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This project depends upon the primary as well as secondary sources

which are as follows:

Primary Sources: Primary data are data gathered for a specific

purpose or for a specific research project. Primary source, (also

called original source), is a term used in a number of disciplines to

describe source material that is closest to the person, information,

period, or idea being studied.

Secondary Sources: Secondary data are data that were collected for

another purpose and already exist somewhere. In library and

information science, historiography and other areas of scholarship, a

secondary source is a document or recording that relates or discusses

information originally presented elsewhere. A secondary source

contrasts with a primary source, which is an original source of the

information being discussed. Secondary sources involve

generalization, analysis, synthesis, interpretation, or evaluation of

the original information

Most of the data collected by the researcher is PRIMARY DATA

through personal interviews, where the researcher and the

respondents operate face-to-face.



Page 23: Employee Satisfaction Kotak Mahindra

Questionnaire: A questionnaire consists of a set of questions

presented to respondents for their answers. Because of its flexibility,

the questionnaire is by far the most common instrument used to

collect primary data. Questionnaires need to be carefully developed,

tested, and debugged before they are administered on a large scale.


The statistical tools used for analysing the data collected are

percentage method, bar diagrams and pie chart.


Page 24: Employee Satisfaction Kotak Mahindra


Kotak Mahindra is one of India's leading financial organizations,

offering a wide range of financial services that encompass every

sphere of life. From commercial banking, to stock broking, to

mutual funds, to life insurance, to investment banking, the group

caters to the diverse financial needs of individuals and corporate.

The group has a net worth of over Rs. 6,523 crore and has a

distribution network of branches, franchisees, representative

offices and satellite offices across cities and towns in India and

offices in New York, London, San Francisco, Dubai, Mauritius and

Singapore. The Group services around 6,2 million customers




Mr. K.M.Gherda - Executive Chairman

Mr. Uday Kotak - Executive Vice

Chairman and Managing


Mr. Anand Mahindra - Co Promoter of Kotak

Mahindra Bank And

Vice Chairman and

Managing Director of


Page 25: Employee Satisfaction Kotak Mahindra

Mahindra and Mahindra

Mr. Cyril Shroff - Co Promoter

Mr. Pradeep N Kotak - Agri Division of Kotak

and CompanyLimited

Mr. Shivaji Dam - Managing Director

Kotak Mahindra Old

Mutual Life Insurance


Mr. C.Jayaram Executive Director


Kotak Mahindra group was started in the year 1985 as Kotak

Capital Management Finance Limited. Uday Kotak Sidney and

Pinto are the promoters of the company. Industrialist Harshath

Mahindra and Anand Mahindra took a stake in 1986. After that the

company changed its name to Kotak Mahindra Finance Limited.

1986 - Kotak Mahindra Finance limited starts the business of Bill


1987 - Kotak Mahindra Finance Limited enters the Lease and Hire

Purchase market.

1990 - The Auto Finance division is started.


Page 26: Employee Satisfaction Kotak Mahindra

1991 - The Investment Banking Division is started. Takes over

FICOM, one of India’s largest financial retail marketing networks .

1992 - Enters the Funds Syndication sector.

1995 Brokerage and Distribution businesses incorporated into a

separate company - Kotak Securities. Investment Banking division

incorporated into a separate company - Kotak Mahindra Capital

Company .

1996 - The Auto Finance Business is hived off into a separate

company - Kotak Mahindra Primus Limited. Kotak Mahindra takes

a significant stake in Ford Credit Kotak Mahindra Limited, for

financing Ford vehicles. The launch of Matrix Information

Services Limited marks the Group’s entry into information


1998 - Enters the mutual fund market with the launch of Kotak

Mahindra Asset Management Company.

2000 - Kotak Mahindra ties up with Old Mutual plc. for the

Life Insurance business. Kotak Securities launches


site. Formal commencement of private equity activity through

setting up of Kotak Mahindra Venture Capital Fund.


Page 27: Employee Satisfaction Kotak Mahindra

2003 - Kotak Mahindra Finance Ltd. Converts to bank

Kotak Mahindra Finance Limited (KMFL), the Non-Banking

Financial Corporation (NBFC) started its operations in the year

1985 as car financers and since then has come a long way. Kotak

Mahindra Finance Limited was converted into a bank as a

conglomeration of six entities. They are Kotak Mahindra Capital

Company( Investment Banking ), Kotak Securities (broking),

Kotak Mahindra Limited (Auto finance), Kotak Mahindra Asset

Management (Mutual funds) old Mutual Kotak Mahindra (Life

Insurance) and Kotak Mahindra Primus ( Auto Finance) .

Kotak Group

The ventures of Kotak group involves the following :

Kotak Mahindra Bank Limited.

Kotak Mahindra Capital Company.

Kotak Mahindra Old Mutual Life Insurance Limited.

Kotak Mahindra Asset Management Company Limited.

Kotak International Business.


Kotak Mahindra Bank is the flagship company of the Kotak group.

The company was incorporated as Kotak Mahindra Finance

Company Limited in the year 1985. In February 1003, the


Page 28: Employee Satisfaction Kotak Mahindra

company was given the license to carry on banking business by

Reserve Bank of India ( RBI). It was the first company to convert

to a bank. With the conversion into a bank, retail liabilities ,

treasury and corporate banking segments have been also added

company to convert to bank. With the conversion into a bank,

retail liabilities, treasury and corporate banking segments have also

been added.

The products of the bank include the following:

Retail Banking.

Commercial Vehicles.

Home Loans.

Personal Loans.

Wealth Management.

Corporate Banking.



Kotak Mahindra Capital Company Limited (KMCO) , India’s

premier investment bank is a strategic joint venture between Kotak

Mahindra Bank ( holding 55%) and Gold Sachs ( holding 25% )


Page 29: Employee Satisfaction Kotak Mahindra

KMCC offers full services investment banking solutions to its

clients by combining the global reach and expertise of the

Goldman Sachs and the local knowledge and skills of Kotak


KMCC identifies structures and executes diverse transactions and

provide innovative solutions to corporate and government

enterprises. Transactions include mergers and acquisitions ,

divestitures and issuance and debt and equity.

Within mergers and acquisitions, KMCC structures and executes a

wide range of domestic and cross border transactions including

acquisitions divestitures merger joint venture corporate

restructuring tender offers and defences against unsolicited

takeover attempts.


Kotak Securities limited , a strategic joint venture between Kotak

Mahindra Bank Limited ( holding 75% ) and Goldman Sachs

( holding 25%) is one of India’s largest brokerage and securities

distribution house in India.

The Private Client Group (PCG) of the company provides value

added investment advisory services to the high net worth

individuals. NRI investors, trusts , corporate and Banks. The

investment product range offered by PCG covers investment and


Page 30: Employee Satisfaction Kotak Mahindra

trading, equity derivatives, portfolio management IPO’s and

Mutual Funds.

Kotak Securities is also a Depository Participant with National

Securities Depository limited ( NSDL) and Central Depository

Services Limited (CDSL) providing dual benefit service wherein

the investors can use the brokerage services of the company for

executing the transactions and the depository services for settling



OM Kotak Mahindra Life Insurance company limited ( OMKM)

is a joint venture between Kotak Mahindra Bank ( holding 74%)

and Old Mutual ( holding 26%). Old Mutual Plc, a UK based

financial services group with 158 years of experience in insurance

and banking is a fortune 500 company listed London Stock


OMKM offers a wide range of innovative life insurance products

aimed at making the Indian consumer financially independent. It

operates through a wide networks of 40 branches across the

country. The company has 14 products including 3 group insurance

products and 7 riders that can be added into the basic policy. The

company now has a full range of products from pure insurance to


Page 31: Employee Satisfaction Kotak Mahindra

saving products and market-linked products from children’s

insurance to retirement solutions.



Kotak Mahindra Asset Management Company ( KMAMC) is the

asset manager for Kotak Mutual Fund ( KMMF), which started

operations in December 1998, manages assets of over Rs. 3900

crore contributed investors in various schemes. It operates through

23 branches all over the country.

KMMF offers schemes catering to investors with varying risk

appetites and return desires. It was the first house in the country to

launch a dedicated gilt scheme investing only in government


The Mutual Fund’s mission is to offer a family of schemes for

building investor wealth. The family of schemes compromise of

diverse portfolios to suit different risk/ reward expectations of



Retail Finance in commercial vehicles, cars and personal loan is a

traditional area of strength for Kotak Mahindra . As for most


Page 32: Employee Satisfaction Kotak Mahindra

finance companies, Kotak Mahindra has invested a considerable

amount of resources in vehicle financing. Kotak Primus the car-

financing unit is more impressive.

Kotak Mahindra Prime Limited (KMPL) started with a joint

venture between Kotak Mahindra Bank Limited (KMBL) and Ford

Credit International Inc. (USA) (FCII) formed to finance all non-

Ford passenger vehicles. The joint Venture is dedicated to

financing and supporting automotive and automotive related

manufacturers, dealers and retail customers. The Company was

incorporated on 28th February 1996 and commenced its operations

on 1st November 1996. After incorporation and subsequent

commencement of the business by the joint venture. The business

of financing non-Ford passenger cars and its related activities,

previously carried out by KMFL are being undertaken by KMPL.

In 2007 Kotak Mahindra Prime Limited because Kotak Mahindra

Prime Limited and the Joint Venture has been cancelled.

KMPL has retained its market leadership by developing and

maintaining close relationship with manufacturers, dealers, direct

marketing associates and individual customers. Currently KMPL is

the preferred financier for Hyundai. Mercedes Benz , Toyota,

General Motors, Honda and Fiat. Additionally , it has good

relationship and market share with Maruti, Telco and M & M.


Page 33: Employee Satisfaction Kotak Mahindra

Highlights of the Company:-

The company started with a joint venture between Kotak

Mahindra Bank Limited ( formerly, Kotak Mahindra Finance

Limited ) which holds 60 % of the equity share capital and

Ford Credit International Inc., USA that holds the balance 40

% of the equity and 2007 it cancellers the joint venture.

The company has been a significant player in the car finance

market in the last 10 years.

The company has been able to maintain increased

disbursements year over year due to increased geographic

reach and improved depth of distribution.

The company gives inventory funding to dealers.

The company has a distribution network across 53 locations

in the country covering over 100 towns.

The company enjoys good relationship with major

automobile manufacturers.

The delinquency ratios of the company are the best among

the auto finance industry.

The company has been consistently improving its profits

since the last three years.


Page 34: Employee Satisfaction Kotak Mahindra

The existing major competitors in the car finance are:

Reliance Capital Limited.

Axis Bank.

HDFC Bank Limited.

ICICI Bank Limited.

Federal Bank.

State Bank Of India.

Sundaram Finance.

Mahindra and Mahindra Finance.

Kotak Cochin division started its operations in 1997. This Cochin

Branch office operates as head office to other branches in Kerala.

It controls the entire operations in the state. It has four branches in

Kerala. They are in Kottayam, Trichur, Calicut and

Thiruvananthapuram. Trichur and Calicut branch started its

operations in 1998 and Thiruvananthapuram branch started in


Features :

It is a profit Centre of KMPL.

The business attitude towards customers is based on IRR.

High level of automation.

It controls the entire business of Kerala.

Profit Centre


Page 35: Employee Satisfaction Kotak Mahindra

Cochin branch is a profit centre of KMPL. Since it’s a profit centre

it can decide its own lending rates. The Cochin division decides the

rates and sends it to the corporate office Mumbai for approval. The

corporate office may approve or disapprove it and inform the cent,

which it takes reasonable. It is only in the case of minimum

lending rate. Highest rate can go up to any figure. The Corporate

Office’s decision is based on certain parameters. They are:

Operations cost.

Delinquency rate.

Margin ( difference between lending rate and borrowing rate)

Product mix.


The vision of KMPL is:

The Global Indian Financial Services Brand | Our customers will

enjoy the benefits of dealing with a global Indian brand that best

understands their needs and delivers customized pragmatic

solutions across multiple platforms. We will be a world class

Indian Financial service group. Our technology and best practices

will be benchmarked along international lines while our

understanding of customers will be uniquely Indian. We will be

more than a repository of our customers’ savings. We, the group,


Page 36: Employee Satisfaction Kotak Mahindra

will be a single window to every financial service in customer’s


The most preferred employer in financial services | A culture of

empowerment and a spirit of enterprise attracts bright minds with

an entrepreneurial streak to join us and stay with us. Working with

a home-grown, professionally- managed company, which has

partnership with international leaders, gives our people a

perspective that in universal as well as unique.

The most trusted financial services company | we will create an

ethos of trust across all our constituents. Adhering to high

standards of compliance and corporate governance will be an

integral part of building trust. Value Creation | Value Creation

rather than size alone will be our business driver.


New Car Financing.

Used Car Financing.

Personal Loan.


Insurance Services.

New Car Financing :

It is the financing of new cars and maximum funding is 100 %.


Page 37: Employee Satisfaction Kotak Mahindra

Used Car Financing :

It is for financing the second hand or used cars and the

maximum funding available is 80 %.

Personal loan :

Only existing customers can avail this facility. Those

customers who paid over rage half of the total installments

and did not make default in the payments of EMI will get

personal loans.

Refinancing :

If the customer is a good customer and does not have

a background of committing defaults, he will get refinancing

facility after the payment of loan or when the hypothecation

is over.

Insurance :

This is a service by Kotak to its own customers and

others also. Kotak works as an intermediary or an agent

between the client and the insurance company. Kotak has tie

up with 3 insurance companies. They are HDFC CHUBB ,

Royal Sundaram , and Oriental Insurance. Through this

service the non-customers of Kotak will become its

customers. For the customers it makes the processing very

easy not only at the time of opening the insurance but also

when the case of claim occurs. Kotak gets commission for


Page 38: Employee Satisfaction Kotak Mahindra

this service. It collects premium from customers and pay it to

the insurance company. This service is for cars as well as for

the two-wheelers also.


Kotak Mahindra Prime Limited is a subsidiary of Kotak Mahindra

Bank Limited primarily formed to finance all passenger vehicles.

KMPL is India’s largest car finance company. The company is

dedicated to financing and supporting the automobile form of loan

for the entire range of passenger cars, multi utility vehicles and

pre-owned cars. The company also offers inventory funding and

infrastructure funding to car dealers. KMPL has preferred financer

relationship with the various car manufacturers in India such as

General Motors, Honda, Hyundai, Maruti, Toyota , M & M etc.

KMPL has a robust delivery platform which is critical for a

sustained growth.


Kotak Car Finance is one of the big player in the area of car

finance. They extend finance to all models of cars. Kotak group

extends finance to all cars through their company, KMPL.


Page 39: Employee Satisfaction Kotak Mahindra

Types of Services

KMPL has different types of services like:

1. Car Finance.

2. Dealer Finance.

3. Inventory Funding.


KMPL offers a very flexible scheme to suit our needs, a hassle free

documentation and quick processing. This causes the company’s

relations with the car manufacturers to give the maximum benefit

of the most attractive deals in the market.

“our commitment is to get you into the driver’s seat quickly while

giving you some really smart options to choose from”

KMPL offers:

The widest range of new and pre-owned cars.

Attractive interest rate.

Flexible schemes.

Speedy loan processing.


Page 40: Employee Satisfaction Kotak Mahindra

New Car Finance

The company offers loans up to 90 % of the ex-showroom price

and flexible repayment theories as per the customer’s convenience.

Margin money scheme

The company provide finance for the acquisition of new cars up to

90% of the invoice value for certain models. The customer should

pay the margin money (invoice value minus the finance amount) to

the dealer directly. He also has an option to pay the margin of

KMPL upon which we would release the entire invoice value to

the dealer.

Set up scheme.

Increase in EMI after every year, 6 months or

quarterly( depending upon your needs )

Best suited for the people who want luxury car experience.

Make payment on time with your growing income ( starting

with low EMI’s in the early period of repayment)

Low EMI, Balloon Scheme.


Page 41: Employee Satisfaction Kotak Mahindra

10%-25% of the cost of the car to be paid as last EMI.

Reduced EMI for the entire tenure.

Best for customers who want to dispose off their vehicle at

the end of the tenure and are looking at affordable EMIs

during the tenure.

Advance EMI Scheme

Make the payments of few monthly installments upfront.

Balance payable through EMIs.

Repay your loan much faster with the advance installments.

Used Car Finance

Owning a car can be a simple, easy and reliable experience with

KMPL used car finance. The company offers up to 90% funding of

the car value. The customers may also avail finance against your

existing car.

Pre-approved Loan

Low ticket size loans:

- Loan amount up to 1.5 lacs.


Page 42: Employee Satisfaction Kotak Mahindra

- Minimum documentation.

Preferred Segment Loan

- Loan amount between 1.5 – 15 lacs.

- Hassle free processing.

Funding up to 85% with maximum tenure of 60 months.

Approve your own loan

For salaried employees:

- Monthly installments equal 40 % of net salary.

- Loan amount equals up to 3 times of your annual salary.

Cash against your car.

Avail this loan by pledging your existing car which is free from

any loan/ hypothecation.

Takeover of your existing car loan and generate cash

It’s a loan taken over from the bank where the foreclosure amount

is lesser than what KMPL actually funds on the assets. That is how

the cash is generated and the customer get more than 100%


# Dealer Finance


Page 43: Employee Satisfaction Kotak Mahindra

KMPL has vast experience in providing comprehensive solution

to the wholesale funding requirement of over 125 automobile

dealers across the various manufacturers. KMPL offers superlative

experience to automobile dealers by catering to their entire

spectrum of financial requirement through ‘Single Window’ . This

results in better response time to KMPL’s esteemed customers.

The various financial options available to the KMPL customers


- Inventory Funding

- Project Funding – Term Loans.

- Setting up of CC/BG/LC through Kotak Mahindra Bank


KMPL also offers value added services such as Dealer Finance

Restructuring and Specific Advisory Services to Dealers.

Term Loan Options


Page 44: Employee Satisfaction Kotak Mahindra

Term loan is available to automobile dealers for setting up of new

dealership expansion / renovation of showroom / workshop /

supplementary working capital requirement.

Equipment term loan is available to automobile dealers for

purchasing the equipments for their service centre.

Amortizing term loans is available to automobile dealers for

purchasing the properties for The business expansions and new


Working capital term loan is available to automobile dealers to

find core working capital / supplement the working capital


# Inventory Funding

Inventory Funding is available to automobile dealers to finance

the working capital requirement.

Retail linked trade Advance :

Dealer inventory funding facility is linked to retail business source

through dealership counter. It is unsecured / semi-secured

advances. Generally the exposure is capped at Rs. 1 crore based on

the dealer’s working capital requirement and credit assessment.

Wholesale finance facility :


Page 45: Employee Satisfaction Kotak Mahindra

It is a semi secured advance available to automobile dealers and is

linked with the Retail business. The maximum exposure under this

is Rs. 5 Crore based on the dealers working capital requirement

and credit assessment.

Floor Finance / Single Payment Gateway Plan :

This caters to the entire working capital requirements. The facility

is similar to the Cash Credit / Over Draft products of banks. The

credit exposure is based on the dealers working capital requirement

of credit assessment. Under this products , KMPL is the exclusive

financier for inventory funding needs of the dealership.

Criteria for applying loan through KMPL

The following is the list stating the person, trust or companies who

can avail loan from KMPL:

- Salaried individuals in the age group of 21 years – 65 years.

- Self-employed individuals in the age group of 21 years – 65


- Partnership Firms

- Public and Private Limited Companies.

- HUF’s and Trusts.

Salaried Individuals


Page 46: Employee Satisfaction Kotak Mahindra

Eligibility criteria:

- Minimum age of applicant must be 21 years.

- Maximum age of applicant at the time of loan maturity is 65


- Minimum income should be at least Rs. 1,00,000 per annum.

- Minimum employment of 6 months.

Documents required.

Identity proof - passport , PAN card, election ID card or


Income Proof – latest salary slip with form 16.

Address proof - ration card, license, ID card, passport,

phone bill or PAN card.

Salary Bank Statement.

Self Employed

Eligibility Criteria

- Minimum age of the applicant must be 21 years.

- Maximum age of applicant at the time of loan maturity must

be 65 years.

- Minimum employment – at least 2 years in business.

Documents Required.

Identity proof - passport, PAN card, election ID card or



Page 47: Employee Satisfaction Kotak Mahindra

Income Proof – latest ITR

Address proof - ration card , license, ID card, passport, phone

bill or PAN card.

Business Bank Statement

Application Process.

The process of applying loan in KMPL is a 7 steps process. The

steps involved are :

1. Getting Information :

The prospect can get the information on KMPL in a

number of ways. This includes:

- Send Mail to

- Visit KMPL or call up any Branch Office.

- Apply on-line.

- Can send SMS CF < followed by name of your city > at


2. Receiving KMPL office :

Kotak offers tailor made schemes based on the customer needs

and they are free to Choose from the schemes made available.

3. Documentation :

Once the vehicles, product and scheme are finalized it will be

fine for us to initiate the process of making finance available to


Page 48: Employee Satisfaction Kotak Mahindra

the customers as soon as possible. In order to process the loan

the application smoothly, the previously mentioned statements

of the customers are essential.

4. Credit Evaluation :

A field investigation officer will visit the customer for

additional information that will help the company to process the

customer’s loan. A KMPL credit officer will evaluate the

customer’s proposal based on the documents submitted by the

customer along with the FI report.

5. Processing of finance :

After the credit approval, the company will enter into an

agreement with the customer and collect the post dated cheques

and ECS mandate.

6. Delivery of Car :

The time has finally arrived at this step, since at this point of

time the customer can take the delivery of their own car.

7. Recovery Agreement :

At the time of delivery, the customer must ensure that he

collects the invoice from the dealer. Usually registration takes


Page 49: Employee Satisfaction Kotak Mahindra

minimum 9 days to 10 days hence the customers are expected to

follow up with their dealer / DSA for the receipt of the same.

The customer must also make sure that the vehicle is insured

under comprehensive insurance plans giving the during the loan

period. The company will send the agreement copy and

repayment schedule to the customer at their correspondence

address within 15 days of the loan disbursal.


KMCC is a strategic joint venture between Kotak Mahindra Bank

limited and the Goldman Sachs group . The Brokerage,

Distribution and Research functions are looked after by the Kotak

Securities (KS) another joint venture with Goldman Sachs . KMCL

together with KS is a full Service Investment Bank bringing to our

clients. The global reach and enterprise of Goldman Sachs and the

local knowledge and the skills of Kotak Mahindra.

For the employees:

The company also has tie-ups with various external training bodies

and institutions and provide our employees an easy access to open

market programs on diverse topics through the year.



Page 50: Employee Satisfaction Kotak Mahindra

As an investment bank KMCC is registered with the SEBI and is

also registered as a non-banking financial company with RBI.

KMCC has a subsidiary company, Kotak Mahindra Securities

Limited ( KMSL ) which looks after the debt broking and which is

registered with NSE .The company is an active member of the

Association of Merchant Bankers of India ( AMBI) . KMSL is a

member of the Association of NSE members of India. The U.K

subsidiary with the securities and futures Association and the US

subsidiary with the Securities Exchange Commission.


Kotak Mahindra has received a number of Awards and

Certifications at both the national and international levels. These

recognitions is on its various field of functions including Banking,

Insurance, securities, investment banking, asset management,

International asset management. Miscellaneous and wealth


Banking :

ICAI Award :

Excellence in Financial Reporting under Category 1 -

Banking Sector for the year ending 31st March, 2010 .

Asiamoney :


Page 51: Employee Satisfaction Kotak Mahindra

Best Local Cash Management Bank 2010

IDG India :

Kotak won the CIO 100 'The Agile 100' award 2010.


Banking Technology Excellence Awards Best Bank Award

in IT Framework and Governance Among Other Banks' –


Banking Technology Award for IT Governance and Value

Delivery, 2008.

IR Global Rankings :

Best Corporate Governance Practices - Ranked

among the top 5 companies in Asia Pacific, 2009 .

FinanceAsia :

Best Private Bank in India, for Wealth Management business,


Kotak Royal Signature Credit Card :

Was chosen "Product of the Year" in a survey conducted by

Nielsen in 2009

IBA Banking Technology Awards :


Page 52: Employee Satisfaction Kotak Mahindra

-Best Customer Relationship Achievement - Winner 2008 & 2009

- Best overall winner, 2007

- Best IT Team of the Year, 4 years in a row from 2006 to 2009

- Best IT Security Policies & Practices, 2007

Euromoney :

Best Private Banking Services (overall), 2009 .

Insurance :

Outlook Money

Kotak Platinum Advantage Plan - Ranked 1st in Type II ULIP

category, 2008

Kotak Long Life Wealth Plus Plans - Ranked 4th in the Type I

ULIPs category



Best Broker in India - 2010

CNBC Financial Advisor Awards

Best Performing Equity Broker, 2008 & 2009

Asiamoney Brokers Poll

Best Local Brokerage, 2006, 2007, 2008 & 2009


Page 53: Employee Satisfaction Kotak Mahindra

Best Analyst in India – Sanjeev Prasad, 2005, 2006, 2007,

2008 & 2009

FinanceAsia Country Awards for Achievement

Best Broker in India, 2006, 2009 & 2010

Thomson Extel Surveys Awards

India's Leading Equity House, 2007

SuperBrands Council of India

Business Super brand India, 2008

Investment Banking:

Finance Asia

Best Investment Bank in India, 2010

Best Equity House in India, 2010

Best Broker in India, 2010

Asia money

Best Domestic Equity House, 2010

Best Local Brokerage in the Asia money Brokers Poll – 2010

Global Finance

Best Investment Bank in India, 2010

Euromoney Real Estate Poll

Best Bank for Equity Finance in India, 2010


Page 54: Employee Satisfaction Kotak Mahindra

Asset Asian Awards

Best Domestic Investment Bank, 2010

FinanceAsia Country Awards for Achievement

Best Investment Bank in India, 2006, 2007, 2008, 2009 &


Best Equity House in India, 2008 & 2010

Asiamoney Best Domestic Bank Awards

Best Domestic Equity House, 2008, 2009 & 2010

IFR Asia

India Equity House of the Year, 2008

Global Finance

Best Investment Bank in India, 2008, 2009 & 2010

Asset Asian Awards

Best Domestic Investment Bank, 2006, 2007, 2008 & 2009

Asset management :

ICRA Mutual Fund Awards 2009

Kotak Liquid (Regular Plan) - Ranked as a Seven Star Fund

for its 1 year performance

Kotak Flexi Debt Fund - Ranked as a Five Star Fund for its 1

year performance

Kotak Flexi Debt Fund - Ranked as a Five Star Fund for its 3


Page 55: Employee Satisfaction Kotak Mahindra

year performance

Kotak 30 - Ranked as a Five Star Fund for its 3 year


International Asset Management:

Global Investor (Editorial Award)

Asian Asset Manager of the Year, 2009



'Most Valuable CEO' overall, 2010 awarded to Mr. Uday

Kotak, Executive Vice Chairman & Managing Director


'Best Performing CFO in the Banking/Financial Services

sector by CNBCTV 18 CFO Awards 2010 awarded to Mr.

Jaimin Bhatt


Page 56: Employee Satisfaction Kotak Mahindra


GIREM awarded Kotak Realty Funds Group, the "Investor of

the Year" Award for 2009

IBA Banking Technology Awards

Best Use of Business Intelligence - up, 2008

Best Enterprise Risk Management - Runner up, 2008

The Great Places to Work Institute, India

Best Workplaces in India, 2008


10th Best Employer in India, 2007, 2008 & 2009

Financial Insights Innovation Award

Best Innovation in Enterprise Security Management in the

Asia Pacific Region, 2009

Frost & Sullivan

Best Passenger Vehicle Finance Company in India, 2006


Indian Business Leader of the Year, 2008 awarded to Uday

Kotak, Executive Vice Chairman & Managing Director .



Page 57: Employee Satisfaction Kotak Mahindra

Employee satisfaction research is an important communication tool

because it stresses that:

Employee satisfaction is important.

Employees are valued.

As frontline deliverers of the brand, employees’ views are

vital and integral to the development of the organization.

The bank is listening and employee suggestions for

improvement will be considered.

The bank recognizes the need for improvement

Employee satisfaction survey is designed to measure

organizational present satisfaction level for various parameters. It

also helps to analyse success of various HR activities as

satisfaction is direct result of these activities. The result of

employee satisfaction survey shows the strong and weak areas in

overall atmosphere in organization. This gives the inputs for action

plan needed for improving the satisfaction in organization. The

more satisfied employees improve the productivity resulting in

higher revenues. It also helps to check attrition and cost associated

with new recruitment.

The employee satisfaction survey is not an isolated event, but

rather the beginning of a continual improvement cycle. Employee


Page 58: Employee Satisfaction Kotak Mahindra

satisfaction survey process provides one of the quickest and

actionable feedbacks.


To help the management of the bank to know about the

actions to be taken to increase the level of satisfaction of the



Page 59: Employee Satisfaction Kotak Mahindra

The study helps in finding the weaknesses, if any in the

organization and the steps taken to avoid them.

The suggestions from the employees will help management

to make changes in the desired field.


Page 60: Employee Satisfaction Kotak Mahindra

1. How long has you worked for Kotak Mahindra? Work with Kotak Mahindra Value Percentage

1 Less than one year 27 27%

2 One year to less than two year 10 10%

3 Two year to less than five year 23 23%

4 Five year to less than ten year 10 10%

5 Ten year or more 30 30%

Total 100 100%





Less than one year One year to less than two yearTwo year to less than five year Five year to less than ten year Ten year or more

COMMENT: - 30% employees are working more than ten year with Kotak Mahindra

27% working from less than one year , 23% working from more than two year, 10% are

working from one year and 10% employees are working from more than five year with

this bank.


Page 61: Employee Satisfaction Kotak Mahindra

2. Overall, how satisfied are you with Kotak Mahindra as an Employee? Satisfaction Level Value Percentage

1 Very Satisfied 24 24%

2 Satisfied 36 36%

3 Neither Satisfied nor dissatisfied 20 20%

4 Dissatisfied 17 17%

5 Very dissatisfied 3 3%

TOTAL 100 100%




17% 3%

Very Satisfied SatisfiedNeither Satisfied nor dissatisfied Dissatisfied Very dissatisfied

COMMENT: - 36% employees of the bank are satisfied with this bank as an employee

24% employees are very satisfied. 20% of employees are neither satisfied nor

dissatisfied, 17% of employees are dissatisfied and remaining 3% of employees are very



Page 62: Employee Satisfaction Kotak Mahindra

3. How satisfied are you that you understand the long-term strategy of Kotak


S.No Satisfaction Level Value Percentage

1 Very Satisfied 34 34%

2 Satisfied 40 40%

3 Neither Satisfied nor dissatisfied 16 16%

4 Dissatisfied 8 8%

5 Very dissatisfied 2 2%

TOTAL 100 100%





Very Satisfied SatisfiedNeither Satisfied nor dissatisfied Dissatisfied Very dissatisfied

COMMENT: - Most of the employees (40%) are satisfied that they understand the long

term strategy of Kotak Mahindra, some of them (34%) very satisfied, (16%) of

employees are neither satisfied nor dissatisfied, (8%) of employees are dissatisfied and

very less no (2%) of employees are very dissatisfied.


Page 63: Employee Satisfaction Kotak Mahindra

4. Do you understand what Kotak Mahindra as a bank, is trying to achieve? Understanding Level Value Percentage

1 Yes 96 96%

2 No 4 4%

TOTAL 100 100%



Yes No

COMMENT: - Majority of the employees (96%) of the bank understand what is

objective & goal, less no of employee (4%) don’t understand what Kotak Mahindra as a

bank is trying to achieve


Page 64: Employee Satisfaction Kotak Mahindra

5. Do your work give you a feeling of personal accomplishment? 

(a) Yes (b) No Value Percentage

1 Yes 80 80%

2 No 20 20%

TOTAL 30 100%


20%Yes No

COMMENT:- Most of the employee’s (80%) work give them the feeling of personal

accomplishment , some of them (20%) don’t feel personal accomplishment from their



Page 65: Employee Satisfaction Kotak Mahindra

6. Do you receive any appropriate recognition for your contributions? Value Percentage

1 Yes 84 84%

2 No 16 16%

TOTAL 100 100%


16%Yes No

COMMENT: - Majority of the employees (84%) receive appropriate recognition for

their contribution, some of them (16%) did not receive any appropriate recognition.


Page 66: Employee Satisfaction Kotak Mahindra

7. How much confidence you have in the leadership of Kotak Mahindra? Value Percentage

1 More than enough 63 63%

2 Enough 30 30%

3 Less than enough 7 7%

TOTAL 100 100%




More than enough Enough Less than enough

COMMENTS:- Majority of the Employees (63%) of the bank have more than enough &

some of them (30%) enough confidence in the leadership of this bank, very less no of

employee (7%) has less than enough confidence in the leadership of Kotak Mahindra.


Page 67: Employee Satisfaction Kotak Mahindra

8. Your role at Kotak Mahindra?

(a) Do you have enough authority to make decisions you need to make? Value Percentage

1 Yes 84 84%

2 No 16 16%

TOTAL 30 100%


16%Yes No

COMENTS: - In Kotak Mahindra majority of the employees (84%) have enough

authority to make decisions what they need to make, some of them (16%) don’t have

enough authority.


Page 68: Employee Satisfaction Kotak Mahindra

(b) How satisfied are you with the type of work that you do? Satisfaction Level Value Percentage

1 Very Satisfied 26 26%

2 Satisfied 40 40%

3 Neither Satisfied nor dissatisfied 18 18%

4 Dissatisfied 13 13%

5 Very dissatisfied 3 3%

TOTAL 100 100%




13% 3%

Very Satisfied SatisfiedNeither Satisfied nor dissatisfied Dissatisfied Very dissatisfied

COMMENT:- Majority of the employees (40%) are satisfied with their work what they

do, some of them (26%) are very satisfied, (18%) of employees are neither satisfied nor

dissatisfied, (13%) of employees are dissatisfied and (3%) very less no of employees are

very dissatisfied.


Page 69: Employee Satisfaction Kotak Mahindra

9. Did Kotak Mahindra provide as much initial training as you needed? Value Percentage

1 Yes 64 64%

2 No 36 36%

TOTAL 100 100%



Yes No

COMMENTS: - Majority of the employees (64%) said that Kotak Mahindra provided

initial training to as they needed


Page 70: Employee Satisfaction Kotak Mahindra

10. Pay and Benefits

(a) Is your salary fair for your responsibilities? Value Percentage

1 Yes 74 74%

2 No 26 26%

TOTAL 100 100%


26%Yes No

COMMENT: - Majority of the employee’s (74%) salary is fair for their responsibilities

but some of the employee’s (26%) salary is not fair for their responsibilities.


Page 71: Employee Satisfaction Kotak Mahindra


An employee's job satisfaction depends as much on the positive

mental, spiritual, physical, and emotional resources the employee

brings to the workplace, according to data gathered from 30

working employees on a three-year study of personal energy

management and work-life balance.

Human Performance Institute describes following ways employers

can create a satisfying work environment:

1. There is a need of attention to find out that why employees

are satisfied with their jobs.

2. About 81% employees believe that nature of their present job

gives satisfaction to them.

3. Most of the employees believe that one-day is sufficient to do

the work allotted to them.

4. 74% employees believe that job satisfaction provides the

career opportunities.

5. As far as job security is concerned. 83 % employees feel



Page 72: Employee Satisfaction Kotak Mahindra


Every project at the end of it has some conclusion derived from the

study of the project.

Employee satisfaction has some shortcomings, which can be

overcome by taking into account the suggestions that are given in

the project.

Employee satisfaction plays a very vital role in the success of the

organization. So, every possible step should be taken for the

satisfaction of the employees regarding their jobs.

If the employees would be more satisfied with their jobs, the

productivity would be increased satisfied employees are more

committed, harder working and more productive In Kotak

Mahindra, most employees are found to be satisfied with their


The most common way of measurement is the use of rating scales

where employees report their reactions to their jobs.


Page 73: Employee Satisfaction Kotak Mahindra


Given below are the various suggestions from the researcher’s point

of view which he feels must be implemented in the bank on order to

enable it to work more effectively and overcome the various

obstacles .which the employees are facing regarding job satisfaction.

1. Surprise inspections should be done in order to avoid ghost


2. Use of workers participation in management.

3. Bank “in the minds of the employees so as to improve the

interpersonal relations in the organization

4. Employees should be induced top improve their productivity by

the introduction of various incentive schemes.

5. Incentives should be directly linked with profits so as to

improve the productivity of the employees.

6. Employees should be given job security to create the

satisfaction in their minds towards their respective jobs.

7. Job satisfaction is the end feeling of a person after performing a

task so as to person’s job must fulfilled his dominant needs

and is consistent with his expectation and values, the job will

be satisfying .

8. It is suggested the rewards and punishments should be equitable

with other employees doing similar work.


Page 74: Employee Satisfaction Kotak Mahindra

9. The supervisor must be able to find out that the employees have

received amounts to what he perceived.

10. It is recommended to put suggestion boxes in every

department in which the staff concerned can draw in there

suggestion and possible solution to overcome the problems

faced by them.



Page 75: Employee Satisfaction Kotak Mahindra

The information in this project is based on primary as well as

secondary data which was collected from the following sources:


1. Human Resource Management- CHABBRA T.N,3rd edition,

2006 Prentice Hall of India

2. Personnel Management –.Flippo Edwin B, 3rd edition, 2007

3. Human Resource Management- GUPTA C.B 1st edition,2006

Vikas publishing house ,Pvt ltd. Delhi



Kotak Mahindra Employee Satisfaction Survey


Page 76: Employee Satisfaction Kotak Mahindra

Name ………………………………………………

Age…. 21 to 34 35 to 44 45 to 54

55 or older

Sex…. Male Female

1. How long has you worked for Kotak Mahindra?

Less than one year

One year to less than two years

Two years to less than five years

Five years to less than ten years

Ten years or more

2. Overall, how satisfied are you with Kotak Mahindra as an Employee?

(a) Very Satisfied

(b) Satisfied

(c) Neither Satisfied nor dissatisfied

(d) Dissatisfied

(e) Very Dissatisfied


Page 77: Employee Satisfaction Kotak Mahindra

3. How satisfied are you that you understand the long-term strategy of Kotak


(a) Very Satisfied

(b) Satisfied

(c) Neither Satisfied nor dissatisfied

(d) Dissatisfied

(e) Very Dissatisfied

4. Do you understand what Kotak Mahindra as a Bank, is trying to achieve?

(a) Yes

(b) No

5. Do your work gives you a feeling of personal Accomplishment? 

(a) Yes

(b) No

6. Do you receive any appropriate recognition for your contributions?

(a) Yes

(b) No

7. How much confidence you have in the leadership of Kotak Mahindra?

(a) More than Enough

(b) Enough

(c) Less than Enough


Page 78: Employee Satisfaction Kotak Mahindra

8. Your role at Kotak Mahindra.

(a) Do you have enough authority to make decisions you need to Make?

(a) Yes

(b) No

(b) How satisfied are you with the type of work that you do?

(a) Very Satisfied

(b) Satisfied

(c) Neither Satisfied nor dissatisfied

(d) Dissatisfied

(e) Very Dissatisfied

9. Did Kotak Mahindra provide as much initial training as you needed?

(a) Yes

(b) No

10. Pay and Benefits

(a) Is your salary fair for your responsibilities?

(a) Yes

(b) No

(b) Are there any benefits you would like added to Kotak Mahindra benefits


Yes What would you like added?



Page 79: Employee Satisfaction Kotak Mahindra

11. What types of incentives motivates you more?

(a) Financial Objectives

(b) Non-Financial Objectives

(c) Both

12. I am satisfied with the salary I draw.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree

(e) Strongly Disagree

13. I am satisfied with the lunch breaks, rest breaks.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree

(e) Strongly Disagree

14. I am satisfied with the administration in my office.

(a) Strongly Agree

(b) Agree

(c) Neutral


Page 80: Employee Satisfaction Kotak Mahindra

(d) Disagree

(e) Strongly Disagree

15. The rest rooms / washrooms are clean, hygienic and well ventilated.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree

(e) Strongly Disagree

16. I am satisfied with my work.

(a) Strongly Agree

(b) Agree

(c) Neutral

(d) Disagree

(e) Strongly Disagree

17. What can Kotak Mahindra do to increase your satisfaction as an employee?