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CHAPTER-4

IMPACT OF SOFT SKILLS ON GROWTH AND

PRODUCTIVITY IN SERVICES

The job related technical skills are important, there are certain

basic eligibility criteria to get the job and to give performance in the

service sector, but they are incomplete without Soft skills. The present

chapter makes an analysis of how Soft skills are complementing

technical skills in influencing the growth and productivity in selected

services

In service sector industries like General Insurance, Life insurance

and Equity the individuals are working at various levels of hierarchy

with the job profile of relationship managers, team leaders, branch heads

or cluster heads. Most of the job profiles are directly dealing with the

customers and the team members. Therefore they need communication

skills, convincing skills, listening skills, problem solving skills etc to

perform their jobs.

To sell intangible products like services, insurance, investment etc

Soft skills play an important role. This study analyze the impact of

employees' Soft skills on his productivity (the revenue he generate for

Impact of Soft Skills on Growth and Productivity in Services

98

the company) and growth. Growth in terms of increase in salary,

promotion, reward etc.

This research study is confined to Jaipur city, Rajasthan. Service

sector industries have been selected for this study. An in-depth analysis

is done on the impact of Soft skills specifically in General Insurance,

Life Insurance and Equity industry. The research study is based on

industry wise analysis of the Soft skills impact on productivity and

growth.

The mentioned industries are among the fastest growing industries

of service sector, they are been selected for the study because the

involvement of Soft skills in performing the job in these industries is

very high.

Industries selected for this research study are :

1. General Insurance

2. Life Insurance

3. Equity (Broking and investment).

This research study is on retail financial services of service sector.

The finance industry encompasses a broad range of organizations that

deal with the management of money. Among these organizations are


99

banks, credit card companies, insurance companies, consumer finance

companies, stock brokerages, investment funds and some government

sponsored enterprises.

Under retail financial services these organization give their

services directly to the retail client; the definition of retail clients

includes individuals, families and small businesses. Larger clients are

called institutions/Corporate.

Insurance Industry

Insurance of any type is all about managing risk. The insurance

company attempts to manage mortality (death) rates among its clients.

The insurance company collects premiums from policy holders, invests

the money (usually in low risk investments), and then reimburses this

money once the person passes away or the policy matures. A person

called an actuary constantly crunches demographic data to estimate the

life of a person. Therefore characteristics such as age/sex/smoker/etc. all

affect the premium that a policy holder must pay. The greater the chance

that a person will have a shorter life span than the average, the higher

the premium that person will have to pay. This process is virtually the

same for every other type of insurance, including automobile, health and

property.


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Types of Insurance- Life Insurance includes :

Insurance guaranteeing a specific sum of money to a designated

beneficiary upon the death of the insured, or to the insured if he or she

lives beyond a certain age.

General Insurance includes :

1. Health Insurance - Insurance against expenses incurred through

illness of the insured.

2. Liability Insurance - Motor Insurance and miscellaneous category.

This insures property such as home, shop/office insurance,

property and professional/business mishaps.

Over the years, there has been a big shift in the life insurance

industry. Instead of offering straight insurance, the industry now tends

to sell customers on more investment type products like annuities. As a

result, insurance companies have been able to compete more directly

with other financial services companies such as mutual funds and

investment advisory firms. To capitalize on this, many insurance

companies even offer services such as tax and estate planning.1

1 www.investopedia.com


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Equity Industry

The Public/Private Equity Industry consists of specially

finance companies and alternative investment managers. Firms operating

in this industry invest in other companies, fixed income securities, and

various assets, usually collecting management and advisory fees, interest

income, and investment gains. Competition is keen, as private equity

funds, hedge funds, asset managers, and other financial institutions search

for attractive investments and seek to retain top talent.2

The face of financial services institutions is changing rapidly in

this era of globalization and international deregulation. New competition

from highly-specialized niche players and ever-progressing technological

advancements are challenges for this industry. Emerging global trends

like international expansion, industry consolidation, end-to-end risk

management and the war for talent are forcing financial institutions to

be customer-centric.

Customer service occupies great importance in the above mentioned

industries. For these industries, the after sales services, follow up is

important. Companies require candidates with flexible attitude who

follow the company procedure and give favourable business to them.

2 www.valueline.com


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The individuals working in these retail financial services are directly

dealing with the customers. To deal with the customers; to handle a

team and sell services as a product, Soft skills are highly required. To

generate business (revenue) in these industries the behavioral competencies

like positive attitude, patience, listening skills, self motivation, situational

handling, interpersonal skills, flexibility etc are needed. For selling life

insurance policies, health insurance, auto insurance, renewal of insurance

policies, handling claims, convincing the customer for investments in

financial products like shares, mutual funds, suggesting and guiding the

investors in opening Demat accounts etc. Soft skills play an important

role. These service sector industries are selling products like ideas,

physical and financial security; for this sufficient people skills that is

Soft skills are required.

The research study analysis has been done on the national and

international companies operational at Jaipur level in the Rajasthan

region. Some of the companies branches where this research study has

been conducted among them are :

1. IFFCO -TOKIO General Insurance company limited.

2. SBI General Insurance company limited.

3. ICICI Lombard General Insurance company limited.


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4. CHOLA MS General Insurance company limited.

5. BHARTI AXA General Insurance company limited.

6. TATA AIG General Insurance company limited.

7. SBI LIFE Insurance company limited.

8. HDFC LIFE Insurance company limited.

9. THE IIFL (INDIA INFOLINE) GROUP

10. SHERKHAN

11. ANANDRATHI

The research survey has been conducted on the employees with

minimum of 1 year of experience. The employees with the job profile

related to sales and customer services are selected for the research

study. As the focus of the study is to do analysis of Soft skills impact,

the respondents' selection criteria was -the job profile having the direct

interaction with the customer and the team members. The demographic

factors like age, gender etc. and experience of the employees are kept

constant.

Each selected company has been divided in three levels according

to the hierarchy in Management.

1. Entry level Management (with minimum of 1year of experience

and sales profile.)


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2. Middle level Management (team leaders/sales managers having at

least a team under them)

3. High Level Management (handling entire sales of the branch )

The employees of every hierarchy have been categorized into

two groups high Soft skills group and low Soft skills group. The

categorization of the employees have been done on the basis of their

Average Soft skills score.

The Maximum Soft skills score is five in this research study.

The employee with the average Soft skills score more than equal to four

is categorized under the high Soft skills group with High level of Soft

skills. The employee with the average Soft skills score less than four is

categorized under the Low Soft skills group with Low level of Soft

skills.

The Soft skills score is achieved by assessing the employee on the

Soft skills indicators.

The Soft skills indicators have been set with the help of industry

experts, the experienced high level management employees of the

selected companies and after the analysis of research studies on the

Soft skills.


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The indicators determining the independent variable: Soft skills

are defined according to the level of hierarchy. The determining

indicators in various level of hierarchy are :-

1. Entry level Management

Soft skills indicators for entry level management

1. Customer Service Orientation and Selling skills

2. Communication skills and interpersonal skills

3. Professional Etiquette

4. Organizing skills

5. Product Knowledge /General Business Awareness

6. Attitude towards work

2. Middle level Management

Soft skills indicators for middle level management

1. Team Management and Training skills

2. Decision Making skills and Problem solving skills

3. Business development and Target orientation

4. Social Networking skills

5. Stress Management



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3. High Level Management

Soft skills indicators for higher level of management

1. Leadership skills

2. Planning skills and coordination skills

3. People management skills

4. Business development skills and Target orientation

5. Creativity

6. Personality management


The impact of the high level of Soft skills and low level of Soft

skills on productivity and the growth of the employee have been analysed.

The Operational definition of the Productivity for this research

study has been set with the guidance of industry experts and the

experienced high level management employees of the selected companies.

According to them productivity of the employee is : the revenue he

generates for the company. Every company sets certain revenue targets

for achievement. These revenue generation targets are different for

every level of hierarchy. These targets vary from company to company

and industry wise as well. The average monthly revenue generated


107

through sales by the employee over the last one year has been defined as

the productivity of the employee.

The Operational definition of the growth for this research

study has been set with the guidance of industry experts and the

experienced high level management employees of the selected

companies. According to them the determining indicators of the growth

of the employee are:

A. Significant increase in salary

B. Good promotion

C. Up gradation in the designation

D. Additional responsibility given

E. Awarded /rewarded for the performance

The Average Growth score has been achieved by assessing the

employees on the above mentioned growth indicators.

The Maximum Growth Score is five in this research study.

In this research study The Soft skills is an independent variable

and the productivity and growth are the dependent variables.

The impact of Soft skills score on the average monthly revenue

generated by the employee (productivity) and on his growth score has

been analysed by using statistical tools Correlation and ANOVA.


108

Correlation: Correlations analysis is statistical tool used to describe the

degree to which variable is linearly related to another.

Correlation is used to measure degree of association between two

variables. Measure used for describing the correlation between the two

variables in this research study is coefficient of correlation r.3

ANOVA: A one-way analysis of variance (ANOVA) is used when there

is a categorical independent variable (with two or more categories) and a

normally distributed interval dependent variable is to be tested for

differences in the means of the dependent variable broken down by the

levels of the independent variable.4

An index of effect size suitable for a one way ANOVA is eta

squared (2), this coefficient has a range of 1-0 with high values

indicating a higher proportion of variance among values of the dependent

variable that can be accounted for or explained by variation among

values of the independent variable. Eta squared (2) is given by the

following formula:5

3 I. Levin, Richard & S.Rubin, Davis (1998): Statistics for Management Seventh Edition.

Published by Pearson Education. 4 The Institute for Digital Research and Education, http://www.ats.ucla.edu/stat/spss/whatstat/

whatstat.htm 5 D. Stern, Leonard (2008) ''A visual Approach to SPSS for windows '' Published by Pearson

Education.


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2 = Sum of Squares Between Groups

Sum of Squares Total Equation 4.1

The value .01, .06 and .14 roughly correspond to a small medium and

large effect size.

The null hypothesis in one way ANOVA for this research study is:

There is same impact of different Soft skills levels on growth and

productivity of the employees in selected services.

The alternative hypothesis in one way ANOVA for this research

study is: There is significant impact of different Soft skills levels on

growth and productivity of the employees in selected services.

The analyses have been done of :

The impact of Soft skills on growth and productivity of Entry

level Management in-

1) General Insurance Industry

2) Life Insurance Industry

3) Equity Industry


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The impact of Soft skills on growth and productivity of Middle




3) Equity Industry

The impact of Soft skills on growth and productivity of High




3) Equity Industry

In this research study in order to define the tables the following

short forms has been used for the various terms.

ELM - Entry level of Management

MLM - Middle level of Management

HLM - High level of Management

GI - General Insurance Industry

LI - Life Insurance Industry

EI - Equity Industry


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4.1 Impact of Soft skills on growth and productivity of

Entry level Management

4.1.1 Entry Level Management(ELM) in General Insurance (GI)

industry

TABLIE 4.1

ELM, GI : Descriptive Statistics

N Minimum Maximum Mean

Std.

Deviation

Entry Level Management

General Insurance

Industry

Soft skills 21 3.29 4.78 4.0246 0.39837

Growth 21 2 4.8 3.4857 0.62473

Productivity (Revenue

generated)

21 300000 1000000 576190.48 163262.8614

Source: (On the basis of calculations on SPSS)

The statistical analysis reveals that at the Entry level management

of the General Insurance industry the minimum Soft skills score was 3.29

and the maximum was 4.78. The balance point of the distribution that is

mean of Soft skills score was 4.0 and the standard deviation was .39.

The minimum growth score was 2.0 and maximum was 4.80 of

the employees of entry level management in General insurance industry.


112

The mean value of the growth score was 3.4 and the standard deviation

was .62.

The study finds out the minimum average monthly revenue

generated by the employees of entry level of management in General

insurance industry was 300000.00 (Three lakh rupees) and maximum

average monthly revenue generated was 1000000.00 (Ten lakh rupees).

The mean value of the average monthly revenue was 576190.47with the

standard deviation was 163262.86. (Table 4.1)

TABLE 4.2

ELM, GI: Correlations between Soft skills, Growth and Productivity

Soft

skills

Growth Productivity

(Revenue generated)

Soft

skills

Pearson

Correlation

1 .684**

.737**

Sig. (2-tailed) .001 .000

**. Correlation is significant at the 0.01 level (2-tailed).Source: (On the basis of calculations on SPSS)

The relation between the Soft skills score, growth and productivity

was examined with correlation analysis. The strong linear correlation

was found between the Soft skills score, growth and productivity of the

employees of entry level management of General insurance industry. The


113

r value for growth, and productivity was found .68 and.73 respectively

that was highly significant. (Table 4.2)

TABLE 4.3

ELM, GI : Descriptive Statistics for ANOVA

N Mean Std. Deviation

Growth

High Level of Soft skills 12 3.7167 .52194

Low Level of Soft skills 9 3.1778 .64377

Total 21 3.4857 .62473

Productivity

(Revenue

generated)

High Level of Soft skills 12 658333.3333 144337.56730

Low Level of Soft skills 9 466666.6667 119895.78808

Total 21 576190.4762 163262.86138


The impact of independent variable Soft skills on dependent

variables growth and productivity was statistically analysed. One Way

Analysis of variance (ANOVA) test was applied in order to find out the

impact of high level of Soft skills and low level of Soft skills on growth

and productivity of the employees of entry level management in General

insurance industry.

The analysis reveals that the employees with high level of Soft

skills have higher mean value for growth score and productivity than

employees with Low level of Soft skills of entry level of management

in General insurance industry.(Table 4.3)


114

TABLE 4.4

ELM, GI : Test of Homogeneity of Variances

Levene

Statistic

df1 df2 Sig.

Growth .602 1 19 .447

Productivity (Revenue generated) .195 1 19 .664


A Levene test of homogeneity of variance conducted prior to the

ANOVA did not indicate the assumption of homogeneity of variance

was significantly violated, (p>.05) p value for growth and productivity

was .44 &.66 respectively. (Table 4.4)

TABLE 4.5

ELM, GI : ANOVA

Sum of Squares df Mean Square F Sig.

Growth Between

Groups

1.493 1 1.493 4.495 .047

Within Groups 6.312 19 .332

Total 7.806 20

Productivity

(Revenue

generated)

Between

Groups

188928571428.571 1 188928571428.571 10.430 .004

Within Groups 344166666666.667 19 18114035087.719

Total 533095238095.238 20


The ANOVA was significant for growth, F (1,19) = 4.49, p<.05,

2 = .19. The Soft skills level had a significant and large size effect on


115

growth of the employees at entry level management in General insurance

industry.

The Soft skills level had a significant and large size effect on the

productivity of the employees at entry level management in General

insurance industry. The ANOVA was significant, F (1,19)=10.43, p<.05,

2 =.35.(Table 4.5)

This research study found the effect of Soft skills more

significant on the productivity than the growth of the employee at

entry level management in General Insurance Industry.

4.1.2 Entry Level Management (ELM) in Life Insurance

(LI) industry

TABLE 4.6

ELM, LI : Descriptive Statistics

N Minimum Maximum Mean Std.

Deviation

Entry Level Management

Life Insurance Industry

Soft skills 13 3.95 4.55 4.1774 .17328

Growth 13 3.40 4.00 3.6462 .16641


generated)

13 100000.00 300000.00 171153.8462 53857.59952



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of the Life insurance industry the minimum Soft skills score was 3.95

and the maximum was 4.55. The balance point of the distribution that is



the employees of entry level management in Life insurance industry.


was .16641.


generated by the employees of entry level of management in life

insurance industry was 100000. 00 (one lakh rupees) and maximum

average monthly revenue generated was 300000.00 (three lakh rupees).

The mean value of the average monthly revenue was 171153.84 with

the standard deviation was 53857.59.(Table 4.6)


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TABLE 4.7

ELM, LI : Correlations between Soft skills,

Growth and Productivity

Soft

skills

Growth Productivity

(Revenue generated)

Soft

skills

Pearson Correlation 1 .874**

.975**

Sig. (2-tailed) .000 .000

N 13 13 13

**. Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations on SPSS)




employees of entry level management of Life insurance industry. The r

value for growth, and productivity was found .87 and.97 respectively

that was highly significant.(Table 4.7)

TABLE 4.8

ELM, LI : Descriptive Statistics for ANOVA


Growth

High Level of Soft skills 10 3.7000 .14142


Total 13 3.6462 .16641

Productivity

(Revenue generated)



Total 13 171153.8462 53857.59952



118



Analysis of variance(ANOVA) test was applied in order to find out the

impact of high level of Soft skills and low level of Soft skills on

growth and productivity of the employees of entry level management

in Life insurance industry.




in Life insurance industry. (Table 4.8)

TABLE 4.9

ELM, LI : Test of Homogeneity of Variances

Levene

Statistic

df1 df2 Sig.

Growth .631 1 11 .444

Productivity (Revenue generated) 1.258 1 11 .286





was .44 &.28 respectively . (Table 4.9)


119

TABLE 4.10

ELM, LI : ANOVA

Sum of Squares Df Mean Square F Sig.

Growth Between Groups .126 1 .126

6.687 .025 Within Groups .207 11 .019

Total .332 12

Productivity

(Revenue

generated)

Between Groups 15391025641.026 1 15391025641.026

8.719 .013 Within Groups 19416666666.667 11 1765151515.152

Total 34807692307.692 12


The ANOVA was significant for growth, F (1,11)= 6.68, p<.05,


growth of the employees at entry level management in Life insurance

industry.


productivity of the employees at entry level management in Life

insurance industry. The ANOVA was significant, F (1,11)=8.71, p<.05,

2 =.44. (Table 4.10)



entry level management in Life insurance industry.


120

4.1.3 Entry Level Management (ELM) in Equity Industry (EI)

TABLE 4.11

ELM,EI: Descriptive Statistics


Deviation

Entry Level of

Management

0

Equity Industry 0

Soft skills 68 3.17 4.79 3.9435 .38153

Growth 68 1.90 4.80 3.1868 .87313

Productivity

(Revenue generated)

68 18750.00 70000.00 38519.6078 14363.31267

Valid N (list

wise)

0



of the Equity industry the minimum Soft skills score was 3.17 and the

maximum was 4.79 .The balance point of the distribution that is mean of

Soft skills score was 3.9 and the standard deviation was .38 .


the employees of entry level management in Equity industry. The mean

value of the growth score was 3.1 and the standard deviation was .87.


generated by the employees of entry level of management in Equity


121

industry was 18750.00 (Eighteen Thousand Seven Hundred and Fifty

rupees) and maximum average monthly revenue generated was

70000.00 (Seventy Thousand rupees). The mean value of the average

monthly revenue was 38519.60 with the standard deviation was

14363.31 . (Table 4.11)

TABLE 4.12

ELM, EI: Correlations between Soft skills, Growth and Productivity

Soft

skills

Growth Productivity

(Revenue generated)

Soft

skills

Pearson Correlation 1 .273* .333

**

Sig. (2-tailed) .024 .005

N 68 68 68

*. Correlation is significant at the 0.05 level (2-tailed). **.Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations

on SPSS)

The relation between the Soft skills score, growth and

productivity was examined with correlation analysis. The positive linear

correlation with medium magnitude was found between the Soft skills

score, growth and productivity of the employees of entry level

management of Equity industry. The r value for growth, and

productivity was found .27 and.33 respectively that was highly

significant. (Table 4.12)


122

TABLE 4.13

ELM, EI: Descriptive Statistics for ANOVA

N Mean Std.

Deviation

Growth High Level of Soft skills 32 3.4406 .80996


Total 68 3.1868 .87313

Productivity

(Revenue

generated)



Total 68 38519.6078 14363.31267


The impact of Independent variable Soft skills on dependent

variables growth and productivity was statistically analysed .One Way



growth and productivity of the employees of entry level management

in Equity industry.




in Equity industry. (Table 4.13)


123

TABLE 4.14

ELM, EI : Test of Homogeneity of Variances

Levene

Statistic

df1 df2 Sig.

Growth 1.884 1 66 .174






was .17 & .24 respectively . (Table 4.14)

The ANOVA was significant for growth, F (1,66) = 5.44, p<.05,

2 = .076. The Soft skills level had a significant and Medium size effect

on growth of the employees at entry level management in Equity

industry.

The Soft skills level had a significant and medium size effect on

the productivity of the employees at entry level management in Equity

industry. The ANOVA was significant, F (1,66)=6.42, p<.05, 2

= .088.

(Table 4.15)


124

TABLE 4.15

ELM, EI: ANOVA


Growth Between Groups 3.895 1 3.895 5.449 .023


Total 51.078 67

Productivity

(Revenue

generated)

Between Groups 1226084219.828 1 1226084219.828 6.424 .014

Within Groups 12596334080.826 66 190853546.679

Total 13822418300.654 67




entry level management in Equity industry.


125

4.2 Impact of Soft skills on Growth and Productivity of

Middle Level Management

4.2.1 Middle Level Management(MLM) in General Insurance

(GI) industry

TABLE 4.16

MLM,GI : Descriptive Statistics

N Minimum Maximum Mean Std. Deviation

Middle Level

Management

General Insurance

Industry

Soft skills 21 3.11 4.86 4.1013 .45760

Growth 21 3.00 4.80 3.8381 .47590

Productivity

(Revenue generated)

21 1500000.00 5000000.00 3380952.3810 1059537.18558


The statistical analysis reveals that at the Middle level

management in the General insurance industry the minimum Soft skills

score was 3.11 and the Maximum was 4.86. The balance point of the

distribution that is mean of Soft skills score was 4.1 and the standard

deviation was .45760 .


the employees of Middle level management in General insurance


126

industry. The mean value of the growth score was 3.8 and the standard

deviation was .47590.


generated by the Middle level Management employees in General

insurance industry was 1500000.00 (Fifteen lakh rupees) and maximum

average monthly revenue generated was 5000000.00 (Fifty lakh rupees).


the standard deviation was 1059537.18. (Table 4.16)

TABLE 4.17

MLM,GI : Correlations between Soft skills, Growth and Productivity

Soft

skills Growth

Productivity

(Revenue generated)

Soft

Skills


.757**

Sig. (2-tailed)

.000 .000

N 21 21 21

**.Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations on SPSS)




employees of Middle level management of General Insurance industry.

The r value for growth, and productivity was found .78 and .75

respectively that was highly significant. (Table 4.17)


127

TABLE 4.18

MLM,GI : Descriptive Statistics for ANOVA




Total 21 3.8381 .47590

Productivity

(Revenue generated)



Total 21 3380952.3810 1059537.186






growth and productivity of the employees of Middle level management

in General Insurance industry.


skills have higher mean growth score and higher mean value for

productivity than employees with Low level of Soft skills of Middle

level of management in General Insurance industry. (Table 4.18)


128

TABLE 4.19

MLM,GI : Test of Homogeneity of Variances

Levene Statistic df1 df2 Sig.

Growth .562 1 19 .462

Productivity (Revenue generated) .155 1 19 .698





was .46 and .69 respectively. (Table 4.19)

TABLE 4.20

MLM,GI : ANOVA


Growth Between

Groups 2.173 1 2.173

17.518

.001

Within

Groups 2.357 19 .124

Total 4.530 20

Productivity

(Revenue

generated)

Between

Groups 6834325396825.400 1 6834325396825.400

8.314

.010

Within

Groups 15618055555555.600 19 822002923976.608

Total 22452380952381.000 20


The ANOVA was significant for growth, F (1,19)=17.51, p<.05,



129

growth of the employees at Middle level management in General

Insurance industry.


productivity of the employees at Middle level management in General

Insurance industry. The ANOVA was significant, F (1,19)=8.31, p<.05,

2 = .30. (Table 4.20)


significant on the Growth than the Productivity of the employees at

Middle level management in General Insurance industry.

4.2.2 Middle Level Management(MLM) in Life Insurance (LI)

Industry

TABLE 4.21

MLM, LI: Descriptive Statistics

N Minimum Maximum Mean

Std.

Deviation

Middle Level

Management

Life Insurance

Industry

Soft skills 6 3.51 4.55 4.0319 .44854

Growth 6 2.80 4.40 3.8333 .63770

Productivity

(Revenue generated) 6 200000.00 800000.00 516666.6667 285773.80332



130

The statistical analysis reveals that at the Middle level management

in the Life Insurance industry the minimum Soft skills score was 3.51 and

the Maximum was 4.55. The balance point of the distribution that is mean

of Soft skills score was 4.03 and the standard deviation was .44854.


the employees of Middle level management in Life Insurance industry.


was .63770.


generated by the Middle level Management employees in Life Insurance

industry was 200000 .00 (Two lakh rupees) and maximum average

monthly revenue generated was 800000.00 (Eight lakh rupees). The

mean value of the average monthly revenue was 516666.66 with the

standard deviation was 285773.80.(Table 4.21)

TABLE 4.22

MLM, LI: Correlations between Soft skills, Growth and Productivity

Soft

skills Growth

Productivity

(Revenue generated)

Soft

Skills

Pearson Correlation 1 .861* .974

**

Sig. (2-tailed) .028 .001

N 6 6 6

*. Correlation is significant at the 0.05 level (2-tailed). **. Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of

calculations on SPSS)


131




employees of Middle level management of Life Insurance industry. The

r value for growth, and productivity was found .95 and .90 respectively

that was highly significant. (Table 4.22)

TABLE 4.23

MLM, LI: Descriptive Statistics for ANOVA


Growth High level of Soft skills 3 4.3333 .11547


Total 6 3.8333 .63770

Productivity

(Revenue generated)

High level of Soft skills 3 766666.6667 57735.02692


Total 6 516666.6667 285773.80332



variables growth and productivity was statistically analysed .One Way



and productivity of the employees of Middle level management in Life

Insurance industry.


132




level of management in Life Insurance industry.(Table 4.23)

TABLE 4.24

MLM, LI: Test of Homogeneity of Variances


Growth 3.273 1 4 .145

Productivity(Revenue generated) 3.200 1 4 .148





was .145 and .148 respectively. (Table 4.24)

TABLE 4.25

MLM, LI: ANOVA


Growth Between

Groups

1.500 1 1.500 11.250 .028

Within Groups .533 4 .133

Total 2.033 5

Productivity

(Revenue

generated)

Between

Groups

375000000000.00 1 375000000000.00 45.000 .003

Within Groups 33333333333.333 4 8333333333.333

Total 408333333333.333 5



133

The ANOVA was significant for growth, F (1,4) =11.25, p<.05,


growth of the employees at Middle level management in Life Insurance

industry.


productivity of the employees at Middle level management in Life

Insurance industry. The ANOVA was significant, F (1,4)=45.0, p <.05,

2 = . 91.(Table 4.25)


significant on the Productivity than the Growth of the employees at

Middle level management in Life Insurance industry.

4.2.3 Middle Level Management (MLM) in Equity Industry (EI)

TABLE 4.26

MLM, EI : Descriptive Statistics


Middle Level Management

Equity Industry

Soft skills 9 3.69 4.50 4.1362 .29476

Growth 9 2.60 4.80 3.9556 .81104

Productivity

(Revenue generated)

9 250000.00 550000.00 377777.7778 100346.62149



134

The statistical analysis reveals that at the Middle level management

in the Equity Industry the minimum Soft skills score was 3.69 and the

Maximum was 4.50. The balance point of the distribution that is mean

of Soft skills score was 4.1 and the standard deviation was .29.

The minimum growth score was 2.60 and maximum was 4.80 of the

employees of Middle level management in Equity industry. The mean



generated by the Middle level Management employees in Equity industry

was 250000.00 (Two Lakh Fifty Thousand rupees) and maximum

average monthly revenue generated was 550000.00 (Five Lakh Fifty

Thousand rupees). The mean value of the average monthly revenue was

377777.77 with the standard deviation was 100346.62. (Table 4.26)

TABLE 4.27

MLM, EI : Correlations between Soft skills, Growth and Productivity

Soft

skills

Growth Productivity

(Revenue generated)

Soft

Skills


.908**

Sig. (2-tailed) .000 .001

N 9 9 9

**Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations

on SPSS)


135




employees of Middle level management of Equity industry. The r value

for growth, and productivity was found .95 and .90 respectively that was

highly significant. (Table 4.27)

TABLE 4.28

MLM, EI : Descriptive Statistics for ANOVA




Total 9 3.9556 .81104

Productivity

(Revenue generated)



Total 9 377777.7778 100346.62149






and productivity of the employees of Middle level management in

Equity industry .


136




level of management in Equity industry.(Table 4.28)

TABLE 4.29

MLM, EI : Test of Homogeneity of Variances


Growth 4.540 1 7 .071






was .07 and .08 respectively . (Table 4.29)

TABLE 4.30

MLM, EI : ANOVA


Growth Between Groups 3.434 1 3.434 13.144 .008


Total 5.262 8

Productivity

(Revenue

generated)

Between Groups 41984126984.127 1 41984126984.127 7.619 .028

Within Groups 38571428571.429 7 5510204081.633

Total 80555555555.556 8



137

The ANOVA was significant for growth, F (1,7) =13.14 p<.05,

2 = .65.The Soft skills level had a significant and large size effect on

growth of the employees at Middle level management in Equity industry.


productivity of the employees at Middle level management in Equity

industry. The ANOVA was significant, F (1,7) = 7.61, p<.05, 2

= .52.

(Table 4.30)



Middle level management in Equity Industry.


138

4.3 Impact of Soft skills on Growth and Productivity of

High Level Management

4.3.1 High Level Management (HLM) in General Insurance

industry (GI)

TABLE 4.31

HLM,GI :Descriptive Statistics


High Level Management 0

General Insurance

Industry

0

Soft skills 6 3.28 3.69 3.4661 .17315

Growth 6 2.80 4.00 3.4667 .48442


generated)

6 5000000.00 20000000.00 10916666.6667 6560614.80859


The statistical analysis reveals that at the High level management

in the General Insurance industry the minimum Soft skills score was 3.28

and the Maximum was 3.69 .The balance point of the distribution that is



the employees of High level management in General Insurance industry.


was .48442.


139


generated by the High level Management employees in General

Insurance industry was 5000000 (Fifty lakh rupees) and maximum

average monthly revenue generated was 20000000 (Two Crore rupees).


the standard deviation was 6560614.80. (Table 4.31)

TABLE 4.32

HLM,GI :Correlations between Soft skills, Growth and Productivity

Soft

skills Growth

Productivity

(Revenue generated)

Soft

Skills


.952**

Sig. (2-tailed)

.002 .003

N 6 6 6

**Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations on SPSS)




employees of High level management of General Insurance industry.

The r value for growth, and productivity was found .96 and .95

respectively that was highly significant. (Table 4.32)


140

TABLE 4.33

HLM,GI :Descriptive Statistics for ANOVA




Total 6 3.4667 .48442

Productivity

(Revenue

generated)



Total 6 10916666.6667 6560614.80859






growth and productivity of the employees of High level management in

General Insurance industry .



productivity than employees with Low level of Soft skills of High level

of management in General Insurance industry.(Table 4.33)


141

TABLE 4.34

HLM,GI :Test of Homogeneity of Variances


Growth .000 1 4 1.000






was . 1.0 and respectively . 07. (Table 4.34)

TABLE 4.35

HLM,GI :ANOVA


Growth Between Groups

.960 1 .960 18.000 .013

Within Groups .213 4 .053

Total 1.173 5


generated)

Between Groups

155041666666666.700 1 155041666666666.700 10.307 .033

Within Groups 60166666666666.664 4 15041666666666.666

Total 215208333333333.340 5


The ANOVA was significant for growth, F (1,4) = 18.0, p < .05,

2 =.81. The Soft skills level had a significant and large size effect on

growth of the employees at High level management in General Insurance

industry. The Soft skills level had a significant and large size effect on


142

the productivity of the employees at High level management in General

Insurance industry. The ANOVA was significant, F (1,4) =10.30,

p < .05, 2

= .72( Table 4.35)



High level management in General Insurance Industry.

4.3.2 High Level Management (HLM) in Life Insurance industry

(LI)

TABLE 4.36

HLM, LI : Descriptive Statistics


High Level

Management 0

Life Insurance

Industry 0

Soft skills 4 3.31 4.49 3.9606 .48930

Growth 4 3.00 4.30 3.6000 .64807

Productivity

(Revenue generated)

4 2000000.00 4000000.00 2925000.0000 977667.29174



in the Life Insurance industry the minimum Soft skills score was 3.31

and the Maximum was 4.49 .The balance point of the distribution that is

mean of Soft skills score was 3.9 and the standard deviation was .48 .


143


the employees of High level management in Life Insurance industry.


was .64807.


generated by the High level Management employees in Life Insurance

industry was 2000000 (Twenty Lakh rupees) and maximum average

monthly revenue generated was 4000000 (Forty lakh rupees). The mean

value of the average monthly revenue was 2925000.00 with the standard

deviation 977667.29.( Table 4.36)

TABLE 4.37

HLM, LI : Correlations between Soft skills, Growth and Productivity

Soft skills Growth Productivity

(Revenue generated)

Soft

Skills

Pearson Correlation 1 .859 .872

Sig. (2-tailed) .141 .128

N 4 4 4






144

employees of High level management of Life Insurance industry. The r

value for growth, and productivity was found .85 and .87 respectively

.(Table 4.37)

TABLE 4.38

HLM, LI : Descriptive Statistics for ANOVA




Total 4 3.6000 .64807

Productivity

(Revenue generated)



Total 4 2925000.00 977667.29174






growth and productivity of the employees of High level management

in Life Insurance industry .



productivity than employees with Low level of Soft skills of High level

of management in Life Insurance industry.(Table.38)


145

TABLE 4.39

HLM, LI : Robust Tests of Equality of Means

Statistica df1 df2 Sig.

Growth Brown-Forsythe 48.400 1 1.220 .063

Productivity

(Revenue generated)

Brown-Forsythe 37.552 1 1.312 .064

a. Asymptotically F distributed. Source: (On the basis of calculations on SPSS)

The sample size was very small at high level management in life

insurance industry. According to, 2008, Stern. D Leonard, book ''A

visual Approach to SPSS for windows''. To avoid Type I errors, in place

of the levene test of homogeneity of variance the Brown-Forsythe test

was conducted to test the equality of group means . Brown-Forsy the

test was conducted prior to the ANOVA did not indicate the assumption

of homogeneity of variance was significantly violated, (p>.05) p value

for growth and productivity was .063 and respectively .064. (Table 4.39)

TABLE 4.40

HLM, LI : ANOVA

Sum of Squares Df Mean Square F Sig.

Growth Between

Groups

1.210 1 1.210 48.400 .020

Within

Groups

.050 2 .025

Total 1.260 3

Productivity

(Revenue generated)

Between

Groups

2722500000000.000 1 2722500000000.000 37.552 .026

Within

Groups

145000000000.000 2 72500000000.000

Total 2867500000000.000 3



146

The ANOVA was significant for growth, F (1,2) = 48.40, p < .05,

2=.96. The Soft skills level had a significant and large size effect on

growth of the employees at High level management in Life Insurance

industry.


productivity of the employees at High level management in Life

Insurance industry. The ANOVA was significant, F (1,3) =37.55, p<.05,

2 = . 94.(Table 4.40)



High level management in Life Insurance Industry.

4.3.3. High Level Management (HLM) in Equity Industry (EI)

TABLE 4.41

HLM, EI : Descriptive Statistics


Deviation

High Level

Management 0

Equity Industry 0

Soft skills 2 3.89 4.14 4.0153 .18200

Growth 2 3.80 4.50 4.1500 .49497

Productivity

(Revenue

generated) 2 1500000.00 2000000.00 1750000.0000 353553.39059



147


in the Equity industry the minimum Soft skills score was 3.89 and the

Maximum was 4.14 .The balance point of the distribution that is mean

of Soft skills score was 4.0 and the standard deviation was .18200 .


the employees of High level management in Equity industry. The mean



generated by the High level Management employees in Equity industry

was 1500000.00 (Fifteen lakh rupees) and maximum average monthly

revenue generated was 2000000.00 (Twenty Lakh rupees). The mean

value of the average monthly revenue was 1750000.00 with the standard

deviation was 353553.39. (Table 4.41)

TABLE 4.42

HLM, EI : Correlations between Soft skills, Growth and Productivity

Soft skills Growth Productivity

(Revenue generated)

Pearson Correlation 1 1.000**

1.000**

Sig. (2-tailed) . .

N 2 2 2

**. Correlation is significant at the 0.01 level (2-tailed). Source: (On the basis of calculations on SPSS)


148




employees of High level management of Equity industry. The r value

for growth, and productivity was found 1.0 and 1.0 respectively that was

highly significant.( Table 4.42)

The analysis of descriptive statistics reveals the growth and

productivity of the employee with high level of Soft skills was higher

than the employee with low level of Soft skills of High level

management of Equity industry.

This research study found the effect of Soft skills more on

the Growth than the Productivity of the employees at High level

management in Equity Industry.

At high level of management in equity industry the sample size

was very small therefore One Way Analysis of variance(ANOVA) test

could not be applied to find out the impact of high level of Soft skills

and low level of Soft skills on growth and productivity of the employees

of High level management in equity industry .


149

4.4 Comparative analysis of the impact of Soft skills on

Growth and Productivity in selected services

In this research study comparative analysis has been done of the

Soft skills impact on growth &productivity in selected services .The

Significance value achieved by application of ANOVA is used to

compare the Soft skills effect in selected services .

Impact of Soft skills on Growth in Selected Services: Table 4.43

Industry

Entry level

management

Middle level

management

High level

management

Impact

of Soft

skills on

Growth

General

insurance 0.047 0.001 0.013

Life

insurance 0.025 0.028 0.02

Equity 0.023 0.008 *

*The sample size of high level management in equity industry was very small so significance value was not achieved by application of ANOVA. Source: (On the basis of

calculations)

On the basis of available data(4.43) this research study found:

The Comparative analysis of Significance value achieved by

application of ANOVA,

1. The significant effect of Soft skills is more on growth of higher

levels of management across the selected services.

2. The significance effect of Soft skills is highest on the growth of

Middle level management of general insurance industry .


150

Impact of Soft skills on Productivity in Selected Services :

TABLE 4.44

Industry

Entry level

management

Middle level

management

High level

management

Impact of

Soft skills

on

Productivity

General

insurance 0.004 0.01 0.033

Life

insurance 0.013 0.003 0.026

Equity 0.014 0.028 *

* The sample size of high level management in equity industry was very small so

significance value was not achieved by application of ANOVA. Source: (On the basis of

calculations)

On the basis of available data this research study found :

The Comparative analysis of Significance value achieved by

application of ANOVA, The table 4.44---reveals

1. The significant effect of Soft skills is higher on the Productivity

of Lower levels of management across the selected services.

2. The significant effect of Soft skills is highest on the Productivity

of Middle level management of life insurance industry.

There significant effect of Soft skills on the productivity of Life

insurance industry.

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