"Evaluating The Factors Influencing Employee Engagement In The Life Insurance Corporation"

Abstract

Employee engagement is a vital driver of organizational success, especially in the competitive landscape of the life insurance industry. This study evaluates the factors influencing employee engagement within the Life Insurance Corporation (LIC), focusing on intrinsic and extrinsic motivators. By analyzing data from Administrative and Marketing Employees, the study identifies key areas impacting engagement, including job satisfaction, recognition, career growth, compensation, work-life balance, and leadership support.

The findings reveal that Administrative Employees generally report higher job satisfaction compared to their Marketing counterparts, who exhibit more dissatisfaction with their roles. Recognition is highly valued across both groups, though Marketing Employees place a higher emphasis on it. Career growth opportunities and compensation perceptions show significant differences, with Marketing Employees rating these aspects more favorably than Administrative Employees. Both groups report moderate support for work-life balance and engagement levels.

The study also highlights that while engagement is perceived to significantly impact productivity and customer satisfaction, there is room for improvement in engagement initiatives. The Chi-Square test results suggest no statistically significant relationship between intrinsic motivators and engagement in the sample.

To enhance employee engagement, LIC should consider strengthening recognition programs, improving career growth opportunities, revising compensation packages, and expanding support for work-life balance. These measures will help create a more motivated and productive workforce, ultimately driving LIC's success in a competitive market.