Effective communication at work places contributes significantly towards the performance of employees. It gives rise to enhanced job satisfaction, a good feeling of personal accomplishment and increased productivity. In this paper we have investigated the factors (related to team communication) that have a significant influence on job satisfaction. For this study, 23 factors that could possibly affect job satisfaction are taken into consideration. These factors were grouped into categories like working environment, duration of service, personal communication terms, performance feedback, horizontal, vertical and formal communication. Our findings, based on the statistical analysis of industry data, indicate that working environment, quality work, performance appraisals and clarity of information provided by project managers to team members are the factors that positively contribute towards job satisfaction.communication that focuses on improving interpersonal skills of all organizational members. Inter-organizational communication can be further categorized as: 1. Formal Communication -a traditional communication approach in which project managers or top personnel of an organization formally direct work related instructions to the employees. 2. Informal Communication -includes interpersonal communications among all the employees of an organization. Morale boosting activities, luncheons and sports are some of the informal communication activities. Most researchers conclude that informal and dynamic communication within teams help in boosting up morale, improve productivity and increased job satisfaction [12]. 3. Vertical Communication -occurs between hierarchically positioned persons and can involve both downward and upward communication flows. Downward communication is more prevalent than upward communication. Studies have shown that downward communication is most effective if top managers communicate directly with immediate supervisors and immediate supervisors communicate with their staff [2].