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A Study of Job Satisfaction of Employees of ICICI Bank in Himachal Pradesh,

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Human Resource Management Research 2015, 5(1): 18-25
DOI: 10.5923/j.hrmr.20150501.03

A Study of Job Satisfaction of Employees of ICICI

bank in Himachal Pradesh
Anubhuti Monga1, Narinder Verma2, O. P. Monga3,*

1
School of Management Studies, Indira Gandhi National Open University, New Delhi
2
Associate Professor & Director Special Projects, Faculty of Management Sciences & Liberal Arts, Shoolini University of Biotechnology
and Management Sciences, Bajhol, Po. Sultanpur, Solan (H.P.) India
3
Professor and Associate Dean, Faculty of Management Sciences & Liberal Arts, Shoolini University of Biotechnology and Management
Sciences, Bajhol, P. O. Sultanpur, District Solan (H P), India

Abstract The main focus of this study was to examine the level of job satisfaction of employees of the ICICI bank in their
organizational context. A convenient sample of employees at selected six branches of the ICICI bank in the state of Himachal
Pradesh was used. It comprised of eighty employees. A five point Likert Scale questionnaire containing fifteen questions
extracted from the short form of Minnesota Satisfaction Questionnaire (MSQ) was administered for data collection. Besides,
questions on personal characteristics, the questionnaire included important dimensions of organizational structure. The
results obtained from analysis of data revealed that salary, inter-personal relationship, communication, attitude of superiors,
working conditions and team work have more bearing than the factors of training and development, rewards and
compensation, nature of job, job security, morale and role clarity in determining job satisfaction of employees of the ICICI
bank in Himachal Pradesh. Some suggestions for further research and improving were also made.
Keywords Job Satisfaction, Morale, and Organizational Environment

which one enjoys doing his /her job.

1. Introduction Sharma (2005) in his study of school teachers in Himachal
Pradesh revealed that they were satisfied with their work,
Historically, roots of the study of job satisfaction lie in the working conditions, salary structure, job security,
Hawthorne studies conducted during 1924-1933 and credited promotional policies, institutional plans and policies,
to Elton Mayo of the Harvard Business School. These studies relationship with their co-workers, functioning of authorities
culminated into “Hawthorne Effect” which states that (head) and their compatibility. Asondariya and Kumar (2008)
changes in work conditions temporarily increase in Saurashtra region and Kutch district in the state of Gujarat.
productivity. This marked the beginning to investigate found that except joint family, variables, namely: age,
factors of job satisfaction. In addition to this, Taylorism of gender, education, caste, marital status are not significantly
Frederick Taylor (1911) popularly known as ‘scientific associated with Job Satisfaction of school teachers, Kumar
management’ also become the source of studies on job and Garg (2010) in Punjab state of this country, reported that
satisfaction. For the last two decades, the employees’ job enhancement in salary, facilities and promotion leads to an
satisfaction has been a focus of research and practice. It is increase in one’s job satisfaction.
considered to be a critical issue in organizational Abbas (2011) reported that financial factors, working
performance. It continues to be rhetoric in the minds of conditions, supervision and advancement opportunities are
scholars and management practitioners, because of two associated with the overall satisfaction of the banking
questions: first, to what extent, job satisfaction is determined professionals. Archana Singh et al. (2011) reported that
by personal and social variables? Second, to what extent factors namely, pay, job interest, leadership, career growth,
organizational variables could be the building -blocks of job working environment, job responsibility etc. serves as
satisfaction? Job satisfaction is generally, understood an stimulators for employee satisfaction in technology sector.
attitude towards one’s job. It simply indicates one’s Deshwal (2011) also found that the factors named as
contentment with the job. The most accepted meaning in working conditions, organizational policies, independence,
literature, according to Cranny et. al. (1992) is the degree to promotion opportunities, work variety, creativity,
compensation, work itself, colleagues’ cooperation,
* Corresponding author:
[email protected] (O. P. Monga) responsibility, social status of job, job security, achievement
Published online at http://journal.sapub.org/hrmr and students’ interaction were associated with job
Copyright © 2015 Scientific & Academic Publishing. All Rights Reserved satisfaction.
 Human Resource Management Research 2015, 5(1): 18-25 19

Jagannathan and Sunder (2011) in their study of Rationale of the study

employees of the Life Insurance Corporation of India in Since the Hawthorne studies in early twentieth century
Tamil Nadu reported that the job security, recognition for (1924-1933), job satisfaction continues to occupy the center
work, supervision, pay, grievance handling procedures and stage of debate in academic circles and the world of work. In
other financial facilities had significant impact on their job today’s technologically dynamic world, it has acquired
satisfaction. Shariq (2011) in study of the impact of gender added significance, not only, due to newer and multiple
and attitude in banking professionals observed that female demands of the job, but also changing expectations of
employees showed less satisfaction as compared to male individuals from their job or work. Attrition, retention,
respondents. recruitment, training, growth and development of employees,
Soumendu Biswas (2011) reported that psychological all converge directly or indirectly into the domain of job
climate proved to be a significant positive predictor of job satisfaction Hence, understanding job satisfaction, is crucial,
satisfaction. It further underscores that support and sincerity for effective management of diverse human resource, in the
in supervisor-subordinate and peer-related relationships private and the public sector.
enhance an individual’s level of job satisfaction. Wadhwa et The modern era is marked by a cut-throat competition in
al. (2011) reported that factors of working conditions, fair the market place. The market situations, technology, labour,
rewarding, promotion opportunities, salary, adequate work environment, and work culture are changing very
authority, supervisors influence the job satisfaction of rapidly. Hence, one’s survival in market may depend on
employee. skilled, knowledgeable, committed, hard working and
Shallu Sehgal (2012) her study of private and public sector satisfied employees. To retain existing and attracting
banks employees in Shimla district of Himachal Pradesh potential candidates having high dedication towards work is
indicated that socio-economic variable, such as, age, sex, and the key to success for any organization including the banking
income were significantly correlated with job satisfaction of sector. The need for such studies also stems from the fact that
employees. The researcher reported that employees in old organizations try to devise effective mechanisms to make
age group category were more satisfied than others. Aarti et work environment congenial for employees. Such studies
al. (2013) identified factors, namely: salary of employees, help organizations to devise ways to motivate employees to
performance appraisal system, promotional strategies, inculcate belongingness and improve health of organization.
employee’s relationship with management and other co- Banks like many other organizations are also faced with
employees, training and development program, work burden resistance to change, rewards, promotion policies, working
and working hours important for improving job satisfaction conditions etc. Sporadic agitations by banking employees are
of the Canara Bank employees. Suman Devi and Suneja indicative of the fact that understanding satisfaction of
(2013) witnessed that significant difference exists between employees is very vital. The scope of this extends to all
employees of public and private sector banks in various aspects of working environment and across various
aspects of job satisfaction, pay and fringe benefits, categories of employees within and outside banking
supervision, training and development. But these differences organizations.
are not significant in case of the aspects, in relation to
co-workers, employee’s empowerment, supervision,
performance appraisal and nature of job. 2. Statement of Problem
Usop et. al. (2013) carried out a study on work
performance and job satisfaction of 200 teachers of 12 In private sector, the ICICI Bank has emerged as one of
selected public schools in the Cotabato city of Philippines. the giant commercial bank in India. It is India's largest
They reported that school policies, supervision, pay, private sector bank with total assets of Rs. 5,946.42 billion
interpersonal relations, opportunities for promotions and (US$ 99 billion) on March 31, 2014. The Bank has a network
growth, working conditions, work itself, achievement, of 3,753 branches and 11,336 ATMs in India, and has a
recognition, and responsibility were significantly associated presence in 19 countries, including India. The ICICI bank
with job satisfaction of teachers. Vikram Jeet and has witnessed tremendous change in terms of human
Sayeeduzzafar (2014) in their study on ‘HRM Practices and resource, technology intervention and changing nature job in
its Impact on Employees Job Satisfaction in Private Sector the context of market demands.
Banks’ reported that HRM practices like training, From the point of view of human resource, it is
performance appraisal, team work and compensation have characterized by workforce diversity, modern technology &
significant impact on job satisfaction of employees. automation and distinct organizational culture. In situation of
From the above it becomes clear that studies on job diversity across age, gender, ethnic group, physical
satisfaction of bank employees are sporadic in nature. There ability/disabilities, race and sexual orientation; more and
seems one study (Shallu Sehgal, 2012) reported form more women joining business organizations as managers and
Himachal Pradesh. Hence, differential nature of samples, other specialists; special recruitment programmes being
groups and regions, provides a ground for more researches conducted to recruit members belonging to scheduled
on job satisfaction of employees of banking sector in the castes/tribes, physically handicapped, ex-servicemen, retired
state of Himachal Pradesh. employees; and the number of knowledge workers
20 Anubhuti Monga et al.: A Study of Job Satisfaction of Employees of ICICI bank in Himachal Pradesh

increasing day-by-day, understanding job satisfaction Himachal Pradesh’ was conducted. The main focus of this
becomes crucial. This is because, persons with differential study was to assess the job satisfaction of bank employees in
characteristics may perform differently and may exhibit the context of organizational factors.
differential level of job satisfaction. Thus, two important
issues emerge: (1) are employees of the ICICI bank satisfied
with their job? , and (2) to what extent organizational factors 3. Objectives
determine their satisfaction?
Besides this, in new technological environment, the issue This study was carried out with the following objectives;
of employee satisfaction with their job, acquires an added • To assess the level of job satisfaction of employees of
significance due to diversity in terms of technology, the ICICI bank.
manufacturing process, nature of job, division of work • To identify organizational factors contributing towards
requires specialized knowledge and skills to perform a the job satisfaction of employees of ICICI bank.
particular job. As these are not evenly distributed, may affect Scope of the study
differentially performance of the workers. New The present study aims to assess the level of job
technological advancements, based on artificial intelligence, satisfaction of the employees of the ICICI Bank, a private
are becoming common phenomena in the industrial world. commercial bank in the state of Himachal Pradesh. It covers
Technology influences social situation, that is, the size of employees working in the ICICI bank. The employees
groups, membership of groups, patterns of interpersonal belong to different categories such as officers, clerical staff
interactions, opportunity to control activities in a variety of and sub-staff. The study explores level of job satisfaction
ways. Hence, technology also affects human behavior among employees working in the the ICICI Bank and
considerably both within and outside organizations. For examine it in organizational context, such as, rewards,
example, Jack D. Douglas (1971), a noted sociologist, promotion policies, working conditions, career development,
comments that “because technology increasingly shapes inter-relationships etc., which affect job satisfaction.
almost every realm of our everyday life, and through formal motivation. Hence, another important question emerges, to
education has increasingly become the dominant form of our what extent employees are satisfied with the organization
modern thought, it could transform or destroy the social structure?
foundations of our most cherished human values. But it can’t Above all, it can be said, that job satisfaction is very
ignore that technology has enhanced the speed of processing important for the individual and as well as an organizational
and production. Using advance technology provides a concern. In today’s world of work imbued with diversity in
competitive edge to an organization over their competitor in human resource, technological interventions, changing
the market. So, to sum up, it can be said advanced technology nature of job, differential expectations, new management
also needs human minds to handle it or to work with it. It practices, demands for specialized skills etc., the success and
becomes important to know, whether employees are growth of any organization, to a great extent, depends on the
comfortable with the use of technology or in other words, do satisfaction of employees. In this phase when employee’s
they enjoy working with new technology? expectations are not met by the organization and vice versa
Another major dimension is the organizational structure. It then various disputes take place. These disputes may cause
is a source of satisfaction to people. Since it provides loss of workforce, wages and production. This is also true to
relatedness among tasks and responsibilities, and among the banking sector.
people who work for an organization, sooner or later come to
evaluate the nature of those relationships and of their jobs.
Organization structure provides a place of status for each 4. Methodology
person which confers certain standing among his/her fellows.
This works as motivating factor for them.The banking sector This ex-post facto approach was considered most suitable
has been restructuring its organization design, policies, to understand the phenomenon of job satisfaction of
structure, working conditions etc., to meet new demands and employees of the ICICI bank. There are eighteen branches of
to enhance the productivity of the employees. Not only this, the ICICI bank spread over ten districts in the state of
the ICICI bank like many other private banks has adopted Himachal Pradesh. The population of the study consisted of
measures to provide congenial environment to its employees, all employees who are working in ICICI bank in the state of
better career opportunities and welfare to keep their morale Himachal Pradesh. A convenient sample of employees at
high. It is not out of context to say that one’s perception of selected six branches of ICICI bank, located at Nahan and
organizational structure may vary depending upon personal Paonta in District of Sirmour, Baddi and Solan in District
attributes and orientations, and therefore, employees may Solan and Kasumpti and Shimla in district Shimla was used.
exhibit differential level of motivation. Hence, another The sample consisted of eighty employees (Management
important question emerges, to what extent employees are Executives 20; Official Staff 40; and Supporting Staff 20).
satisfied with the organization structure? Those employees who are permanent and had two years of
In this background the present study entitled, ‘A study of working experience were selected. The unit of the study was
Job Satisfaction of Employees of ICICI Bank in an employee in ICICI bank.
 Human Resource Management Research 2015, 5(1): 18-25 21

Table 1. Characteristics of respondents (N=80) conducted on the selected respondents and the questionnaire
Characteristic Category Frequency Percentage was administered to them. The data was analysed using
frequency and percentages, and to draw meaningful findings.
Gender Male 53 66.25
Observations
Female 27 33.75
The statistical data in terms of gender, education, marital
Education Diploma 10 12.50
status, work experience and respondents’ designation,
Graduation 43 53.75 monthly income of eighty employees of the ICICI banks in
Post-graduation 27 33.75 three districts of Himachal Pradesh are presented in Table
Marital Status Married 45 56.25 No. 1. From the table, it can be pointed out that there was
preponderance of males with significantly more than half of
Unmarried 35 43.75
the respondents i.e. 66.25 per cent. A little more than half
Income P.M (Rs) Below 15000 10 12.50 (53.75%) of them were graduates. A little more than half
15001-25000 25 31.25 (56.25%) were married. The proportion of respondents with
25001-35000 27 33.75 income between Rs. 2500 t0 35000/- was highest (33.75%).
Those with work experience 21 years and above were
Above 35001 18 22.50
represented highest (37.50%) and those with less than 10
Experience years of experience also had the same proportion (37.50%).
Below 10 30 37.50
in years Half of the respondents were from office cadre staff.
11 - 20 20 25.00
Organizational context and job satisfaction
21 - 30 15 18.75
Table 2. Summary of findings
Above 31 15 18.75
Parameter Job Satisfaction
Management
Designation 20 25 Salary 50.00
Executives
Office cadre 40 50 Training and Development 41.25

Supporting staff 20 25 Nature of Job 31.25

Work life balance 48.75
The instrument for data collection was questionnaire. The Inter-personal Relationship 70.00
first part consisted of questions about personal information
Job Security 32.50
on age, gender, education, marital status etc., and the second
part had fifteen questions extracted from the short form of Communication 62.50
Minnesota Satisfaction Questionnaire (MSQ). These Autonomy 37.50
questions included important dimensions of organizational
Morale 38.75
structure. These are: salary/compensation, training and
development, flexibility, communication, work life balance, Rewards and Recognition 38.75
security, interpersonal relationships, decision-making, Attitude of Superiors 67.5
welfare measures, reward and recognition, attitude of Role Clarity 40.00
employees, role clarity and morale of employees, working
Working Conditions 55.00
conditions, team work, promotion policies etc. Spector (1997)
identified the 20-item short form of the Minnesota Team Work 51.25
Satisfaction Questionnaire (MSQ) (Weiss et al., 1967) as a Promotion 32.50
popular measure that is frequently used in job satisfaction
research. One advantageous feature of the MSQ short form is Hertzberg’s two factor theory points out that the ‘hygiene
that it can be used to measure two distinct components: factors’ are very crucial in understanding job satisfaction of
intrinsic job satisfaction and extrinsic job satisfaction. employees. These include aspects of the working
Intrinsic job satisfaction refers to how people feel about the environment such as pay, company policies, supervisory
nature of the job tasks themselves; extrinsic job satisfaction practices, and other working conditions. The cumulative
refers to how people feel about aspects of the work situation evidence of research studies also points out that various
that are external to the job tasks or work itself (Spector,1997). dimensions of organization, such as, salary, training and
The reliability coefficient value of MSQ short form ranges development, rewards and compensation, nature of job,
from 0.87 to 0.97 and its validity is considered adequate. promotion, autonomy, communication, job security, morale,
Each question had five response categories i.e., Very role clarity, attitude of superiors, working conditions, team
Satisfied, Satisfied, Neutral, Dissatisfied, and very work etc., influence job satisfaction and morale of
Dissatisfied and allotted score as 5,4,3,2,1, respectively. We employees. The basic concern of this study is on to
depended on the reliability and validity of the instrument as understand dimensions of job satisfaction in its contextual
indicated in original manual of MSQ. Interviews were perspective, as it is difficult to determine impact of intrinsic
22 Anubhuti Monga et al.: A Study of Job Satisfaction of Employees of ICICI bank in Himachal Pradesh

factors of motivation. In this study, information on their • About one-third of the respondents (33%) were happy
satisfaction with different dimensions of organizational work with the provisions of job security in ICICI bank. But
environment was collected and analysed. The table 2 below those who were not satisfied with this were in higher
presents summary of these findings. Only responses under proportion (41.25%). This reflects that job security in
‘satisfied’ category are mentioned here. ICICI bank is not up to expectations of employees at
Based on statistical results mentioned in table 2 above, some large. Jagannathan and Sunder (2011) in their study in
important findings emerged. These are; Tamil Nadu opined that job security has significant
impact on job satisfaction of employees.
• Half of the respondents (50%) were satisfied with their
• Sizeable proportion of respondents i.e. more than half
salary package which they are paid for their job. Salary
(62.00%) were satisfied with the communication in the
happens to be a satisfier for them.
ICICI bank. In other words, most of the employees
• Interestingly, in case of training and development
were happy and satisfied by the communication
programme almost equal response (a little over 40%)
channels at all levels within organization.
was found regarding employees’ satisfaction and
• About one-third of the respondents (33%) were happy
dissatisfaction.
with the provisions of job security in ICICI bank. But
• It appears that a little over 30 percent of respondents
those who were not satisfied with this were in higher
were contented with the nature of job which includes
proportion (41.25%). This reflects that job security in
flexibility, workload on the employees, working hours
ICICI bank is not up to expectations of employees at
etc. Those who were not contented often felt overloaded
large. Jagannathan and Sunder (2011) in their study in
with work of different kinds in addition to their own
Tamil Nadu opined that job security has significant
work.
impact on job satisfaction of employees.
• In striking balance between responsibilities at work
• More than half (62.00%) of the respondents were
place and family, that is, work-life balance, a little less
satisfied with the communication in the ICICI bank. In
than half (48.75%) of the respondents were satisfied.
other words, most of the employees were happy and
They could realize it along with their involvement in
satisfied by the communication channels at all levels
different tasks in the bank. Those who found it difficult
within organization.
and felt unhappy were also in good number (36.25%).
• On the dimension of autonomy i.e freedom to take
• Majority (70.00%) of the respondent employees were
independent decision with regard to job related matters,
happy and satisfied with relationship with their
clear cut trend did not emerge as equal number of
colleagues at their work place. This they felt is a healthy
employees (37.50%) were satisfied and as well as
sign of development of an organization. This they
dissatisfied with it. Jagannathan and Sunder (2011) also
viewed leads to discharge their responsibilities better
reported similar results in their study on 200 employees
and in this task they get cooperation and guidance of
of LIC in Tamil Nadu. They found that sizable
other colleagues. Aarti et al. (2013) also reported that
proportion of employees were not satisfied with the
employee’s relationship with management and other
nature of job.
co- employees as one of the major factor for improving
job satisfaction of employees.

Figure 1. Summary of findings

 Human Resource Management Research 2015, 5(1): 18-25 23

• Most of the employees were satisfied with the welfare policies, such as, performance appraisal system, promotional
measures at the work place as they expressed of having strategies, position status and related rewards prevalent in
no anxiety, tension and breakdown of emotions in their ICICI bank. This finding emerged from the fact that
dealing with their superiors and subordinates. This 57.50 per cent of the employees included in this study
means there is cooperative and helpful attitude among expressed that they were not satisfied with the promotion.
employees. Such respondents accounted for 38.75 per This includes those 16.25 per cent who indicated their high
cent. degree of dissatisfaction with the promotion policies.
• Sizeable proportions (48.75%) of employees were not
satisfied with the reward and recognition system of the
ICICI bank. They mentioned that the rewards and 5. Conclusions
recognitions are not commensurate with the nature of
work i.e. workload, flexibility and working hours. After the analysis of statistical data and findings arrived, it
• Most of the employees were satisfied with the attitude of can be concluded that employees in the ICICI bank in
their superiors at their work place. The percentage of Himachal Pradesh nurture differential level of satisfaction
such respondents was 67 percent. They felt that it leads across organizational variables, such as, salary/
to better inter-personal relationship which in turn compensation, training and development, the nature of job,
enhances better performance and job satisfaction. work life balance, colleagues relationship, job security, chain
• As far as dimension of role clarity is concerned, those of communication or relationships, decision-making, welfare
satisfied held that role assigned to them is clear and measures, rewards and recognition, attitude of superiors,
without any ambiguity. Those dissatisfied with this roles of the employees, working conditions, team work
were lesser in number (31.25%) to satisfied ones promotion policies etc. On the face of statistical findings,
(40.00%). difference in percentage between satisfaction and
• The respondents were satisfied with their organizational dissatisfaction suggests that factors of salary, inter-personal
working conditions, such as, seating facility, the relationship, communication, attitude of superiors, working
canteen, ventilation in the work place, safety facilities conditions and team work are more significant in
etc. Such employees were a little more than half of the determining job satisfaction of employees of the ICICI bank
respondents (55%) were satisfied with the working in Himachal Pradesh. It can be pointed out that improvement
conditions in the ICICI bank. in organizational variables, most particularly, in
• It was found that half of the respondents showed positive performance appraisal system, promotional strategies,
attitude for Team work was adored by the respondents position status and related rewards etc., may enhance job
as they felt that it not only builds harmonious satisfaction and morale of employees in the ICICI bank.
inter-personal relationships, but also instills confidence
to work in the organization. Number of such informants 6. Suggestions
was 51.25 per cent.
• A little more than half of the respondents (57.50%) were On the basis of above findings of the study, a few
dissatisfied with promotion policies of the bank. suggestions are put forward, and if followed by the ICICI
• Interestingly, three-fourth of respondents (78.75%) bank, may help in enhancing job satisfaction among its
expressed high level of morale, that is, they were employees.
satisfied with their work, rewards and working 1. The conclusion mentioned above should be understood
conditions. They expressed their willingness to as indication. This is because, for drawing conclusions,
continue working with the ICICI bank. The factors of more studies of this nature and on controlled and large
salary, inter-personal relationship, communication, samples are needed.
attitude of superiors, working conditions and team work 2. The ICICI bank should suitably reward initiatives and
were found to influence job satisfaction more than other contributions of employees. They must be recognized
factors, such as, training and development, rewards and given adequate incentives to outstanding employees.
compensation, nature of job, job security, morale and 3. Promotion involves higher responsibilities and
role clarity. Their proportion happened to be sizably therefore promotion policies should be effectively
greater, that is, between 50 to 70 per cent. Similar implemented as this forms an effective reward for
observations were reported by Abbas (2011), commitment, loyalty and long service.
Jagannathan and Sunder (2011), Aarti et. al. (2013), and 4. Working conditions in terms of flexibility, workload
Vikram Jeet and Sayeeduzzafar (2014). and working hours should be tuned in such a way that
In line with Hertzberg’s hygiene factors, it may be pointed they do not serve as barriers in maintaining work life
out that factors of salary, inter-personal relationship, balance which is essential for individual and social
communication, attitude of superiors, working conditions development.
and team work are important in determining job satisfaction 5. Seniors should inculcate positive attitude towards their
of employees of the ICICI bank in Himachal Pradesh. In subordinates in helping them to perform assigned tasks
general, the respondents were not satisfied with promotional with increased efficiency and in turn learn comfortably
24 Anubhuti Monga et al.: A Study of Job Satisfaction of Employees of ICICI bank in Himachal Pradesh

with cooperation of others. performance of the employees by exploring employee

6. The ICICI bank should further strengthen team building satisfaction: an efficacious tool for it sector in India.
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