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INTRODUCTION
For almost all the organization, employees are the vital resource and they represent an important
asset of any Industry. Of all the “M”s in management such as materials, machines, methods and
money the most important “M” stands for men i.e. manpower working in the organization. Now
a day it is a widely accepted fact that a happy worker is a valuable asset to any organization
contributing to prosperity. As employees are the precious asset of organization, the satisfaction
of all employees in their work is very important. Hence, it is vital for any organization to satisfy
their employees. Human resource management is concerned with developing potential of
employees so that they get maximum job satisfaction from their work and give their best efforts
to the organization.
The study made regarding the job satisfaction in banking sector will facilitate and enables the
management to know the perceptions and inner feelings regarding the job. It helps to identify the
causes for satisfaction and dissatisfaction among the employees. This study helps to understand
the employee’s perspective towards bank.
Job satisfaction refers to an individual’s complex attitude towards his or her job. It is a
pleasurable emotional state arising from the appraisal of one’s job or job experience. Job
satisfaction or dissatisfaction is a function of the perceived relationship between what one wants
from one’s job and what one perceives it as offering or entering.
Job satisfaction is often determined by how well outcome meet or exceed expectations. For
instance, if employee feels that they are working much harder than others in the department but
are receiving fewer rewards he will probably have a negative attitude towards the work, the boss,
and co-workers. On the other hand, if they feel they are being paid equitably, they are likely to
have positive attitude towards the job.
As work is an important aspect of people’s lives and most people spend a large part of their
working lives at work, understanding the factors involved in job satisfaction is crucial.
There are various factors which influence job satisfaction of an employee’s like working
environment, fair policies and practice, caring organization, appreciation, pay, age, promotion
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policy of the organization, feel of belongings, initiation and leadership, feel of being loved,
safety and security, challenges, responsibilities, creativity in job, personal interest and hobbies,
respect from co-workers, relationship with supervisor, feedback, flexibility, nature of work.
Job satisfaction is all about how one feels about (or towards) one’s job. An employee who
expresses satisfaction is said to have a positive attitude towards the job, unlike a dissatisfied
employee who has a negative attitude towards the job. A person having negative attitude shows a
personality disposition which is inclined to experience nervousness, tension, worry, upset and
distress, where as those with positive attitude will feel happy with themselves, others, and with
their work.
Employees are most satisfied when their job offer them security from economic strain,
recognition of their effort, clear policy of grievances, opportunity to contribute ideas and
suggestions, participation in decision making, opportunity for promotion , sound payment
structure, health and safety measures, communication system and atmosphere of mutual trust and
respect.
Employee satisfaction is one of the major issues in any organization. Employee’s performance,
motivation, productivity, behaviour, participation in an organization and overall contribution
depend upon the satisfaction level of the employee. So, every organization is giving higher
priority to keep their employees with satisfaction by providing various facilities which improves
satisfaction and which reduces dissatisfaction.
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LITERATURE REVIEW
Job Satisfaction is all about how a person likes the job. It is actually more of a journey than being
a destination. It is of utmost requirement to organizations as it will increase the job involvement
level of the employees and decrease the turnover. Job satisfaction has been a fascinating concept
for researchers as well as experts since number of decades. This paper presents the study of past
literatures of job satisfaction between the years 1981 to 2014. The purpose is to find out the
different attributes used for evaluating the job satisfaction. From the review of extant literature, it
has been found that it is always not salary which leads to job satisfaction rather it is the work
environment.
Human resource is considered to be the most valuable asset in any organization. It is the sum-
total of inherent abilities, aptitudes of the employed persons who comprise executives,
supervisors and the rank and file employees. The human resources should be utilized to the
maximum possible extent, in order to achieve individual and organizational goals. It is thus the
employee’s performance which ultimately decides the attainment of goals. Hence, the
employee’s performance is to a large extent influenced by motivation and job satisfaction.
Job satisfaction is all about how one feels about (or towards) one’s job. An employee who
expresses satisfaction is said to have a positive attitude towards the job, unlike a dissatisfied
employee who has a negative attitude towards the job. A person having negative attitude shows a
personality disposition which is inclined to experience nervousness, tension, worry, upset and
distress, where as those with positive attitude will feel happy with themselves, others, and with
their work.
Job satisfaction reflects the extent to which people find gratification or fulfillment in their work.
Job satisfaction shows that personal factors such as an individual needs and aspirations
determine his/her attitude, along with group and organizational factors such as relationships with
co-workers and supervisors and working conditions, work policies, and compensation. A
satisfied employee tends to be absent less often, to make positive contributions, and to stay with
the organization. The effect of job satisfaction goes beyond organizational setting.
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Satisfied employees are more likely to be satisfied citizens. These people will hold a more
positive attitude towards life in general and make for a society of more psychologically healthy.
Job satisfaction has been considered as state of condition where people are:
6) More happy and satisfied with their job. The level of job determines the job satisfaction.
Job satisfaction refers to one’s feeling towards one’s job. It can only be inferred but not seen.
The terms job satisfaction and job attitudes are typically used interchangeably. Both refer to
effective orientations on the part of individuals towards their work roles which they are presently
occupying. Positive attitudes towards the job are conceptually equivalent to job satisfaction and
negative attitudes towards the job indicate job dissatisfaction.
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Review of Literature
Savery (1989) highlighted the job satisfaction of nurses in Perth, Western Australia. The job
satisfaction level of the nurses was mainly due to interesting and challenging work which was
followed by a feeling of achievement wherein, he even said salary was ranked as a very low
satisfier. The job satisfaction level increased as the person grew old where in the variables like
gender, time in hospital, position held were controlled. Organizations should always focus on
satisfying the three basic needs (Individual motivators, Employee relationships and personal
relationships) of an employee which will in return help the employees in achieving job
satisfaction.
Melvin (1993) stated that the environmental design of an organization plays a very important
role in job satisfaction at the same time it also plays an important role in employee’s high job
involvement. A good environmental design of an organization helps in resolving the conflicts
and confusion. The author even cites that it is the responsibility of the management to design the
environment in such a manner that it reduces the dissatisfaction where in the work tasks, working
patterns are properly mentioned.
It indicates there are many factors which help in achieving job satisfaction. The factors may be
the type of work assigned to them; work environment, work design etc. Salary is certainly an
important factor but it always doesn’t play such a big role as it looks. Non-monetary benefits
play a bigger role at large. Therefore, organizations have to have a intellect think on their HRM
system on a regular basis so that it helps in improving the system, work environment, decreasing
the job stress and finally leading to job satisfaction and more job involvement. Future studies can
focus on factors such as mentoring, coaching and personal development plans influencing job
satisfaction. The next generation employees, the Z generation is a completely different breed.
Researches focused on understanding what influences the job satisfaction of these employees
will be quite relevant for the organizations.
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TOPIC INTRODUCTION
The term “job satisfaction” refers to an employee general attitude towards his job. Job
satisfaction is how content an individual is with his or her job. A person with a high level of job
satisfaction holds positive attitude towards the job, while a person who is dissatisfied with his or
her job holds negative attitude about the job.
It is the feeling and perception of a worker regarding his or her work and how he or she feels
well in an organization. It indicates the extent of employee’s positive or negative feelings
towards their job and organization can try to improve it.
“Job satisfaction does not seem to reduce absence, turnover and perhaps accident rates.”
Robert L. Kahn
“Job satisfaction is a general attitude towards one’s job. The difference between the amount of
reward workers receive and the amount they believe they should receive.”
P. Robbins
“Job satisfaction defines as the amount of overall positive affects (or feeling) that individuals
have towards their jobs.”
“Job satisfaction is a set of favourable or unfavourable feelings with which employees view their
work.”
“A pleasure or positive emotional state resulting from the appraisal of one’s job or job
experience.”
E.A Locke
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“Job satisfaction as a general attitude of the workers constituted by their approach towards the
wage, working conditions, control, promotion related with job, social relations in the work,
recognition of talent and some similar variables personal characteristics, and group relations
apart from the work life.”
“Job satisfaction can be defined as the employee’s judgment of how well his job on whole is
satisfying his various needs.”
Smith
From the above meaning and definition of job satisfaction we can define the job satisfaction as
the general attitude of employee’s towards their job. It is one’s feeling or state of mind regarding
the nature of their work. It describes how content an individual is with his or her job.
It is a person’s feeling of satisfaction on the job, which acts as a motivation to work. It is not self
satisfaction, happiness or self contentment but satisfaction on the job.
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Ways of Measuring Employee Job Satisfaction
There are a number of ways of measuring Employee Job Satisfaction. This is not surprising since
hundreds of studies have been conducted over the past three and half decades, employing varied
techniques. The most common ways of measurement include rating scales, critical incidents,
interviews, attitude survey, observing actual behaviour.
Many organization face challenges in accurately measuring job satisfaction, as the definition of
satisfaction can differ among various people within an organization.
1) Critical incident:
The critical incidents approach to the measurement of job satisfaction was developed by
Herzberg and his associates in their research on the two factor theory of motivation. Employee’s
was asked to describe incidents on their job when they were particularly satisfied or dissatisfied.
These incidents were then content analyzed in determining which aspect were closely related to
positive and negative attitude.
2) Interview:
Employees are interviewed individually and the responses reveal their satisfaction and
dissatisfaction.
3) Likert scale:
This method of standardised survey was developed by Likert in 1932. In this, an individual is
asked to indicate agreement or disagreement with job factors. The individual is also required to
state how strongly he or she agrees or disagrees with a statement. This is normally done on a five
point scale. The normal practice is to incorporate the various statements in a questionnaire. The
subject is asked to respond to these statements, indicating the extent of his or her agreement or
disagreement.
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If A=B then perceived satisfaction.
Abraham Maslow, a well known psychologist developed theory of motivation based on human
needs. This was one of the first theories to examine the important contributors to job satisfaction.
He mentioned that within every human being, there exists a hierarchy of five needs.
Self-
actualization
Self- esteem
Physiological needs
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Two Factor Theory
In 1959, Fredrick Herzberg, a behavioural scientist proposed a two- factor theory. According to
Herzberg, there are some job factors that result in satisfaction while there are other job factors
that prevent dissatisfaction. Herzberg classified these job factors into two categories-
1) Hygiene factors
Hygiene factors are those job factors which are essential for existence of motivation at
workplace. These do not lead to positive satisfaction for long- term. But if these factors are
absent at workplace, and then they lead to dissatisfaction. Hygiene factors are those factors
which when adequate in a job, pacify the employees and do not make them dissatisfied. These
factors are extrinsic to work. Hygiene factors are also called as maintenance factors as they are
required to avoid dissatisfaction. Hygiene factors include:
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CHAPTER-2
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custody as well as interest to the depositors. Thus, deposits with the bank grow along with the
interest earned. If the rate of interest is higher, public are motivated to deposit more funds with
the bank.
Saving deposit
This type of deposits encourage saving habit among the public. The rate of interest is
low. Saving deposit account meant for those people who wants to save for future needs
and uncertainties. There is no restriction on number and amount of withdrawals. The
depositors are given cheque facility to withdraw money from their account. Bank
provides cheque book, ATM cum debit card and internet banking facility. Depositors
need to maintain minimum balance which varies across different banks. This account is
suitable to salary and wage earners. This account can be opened in single name or in joint
names.
Current account
Current accounts are generally opened by businesses. Withdrawals are freely allowed. No
interest is paid. In fact, there are service charges. Banks provide overdraft facility for
these accounts by which account holder can withdraw more money than available bank
balance. This acts as a short term loan to meet urgent needs. Bank charges high rate on
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interest and charges for overdraft facility because bank need to maintain a reserve for
unknown demands for overdraft.
The second important function of bank is granting loan and advances. The deposits received by
banks are not allowed to remain idle. So, after keeping certain cash reserves, the balance is given
to needy borrowers and interest is charged from them, which is the main source of income for
banks. The bank lends people money on a time-interest basis. Each loan amount is passed by the
bank after due consideration and securing the bank’s profit. The bank also gives advances to its
customers. The rate of interest charged on loans and advances varies according to the purpose
and period of loan. These are also the primary functions of the banks. The bank provides the
services of an overdraft, cash credits, loans and discounting of the bill of exchange.
i. Loans
A loan is granted for a specific time period. Generally commercial banks provide short-
term loans. But term loans, i.e. loans for more than a year may also be granted. The
borrower may be given the entire amount in lump-sum or in instalments. Loans are
generally granted against the security of certain assets. A loan is normally repaid in
instalments. However, it may also be paid in lump sum.
ii. Advances
An advance is a credit facility provided by the bank to its customers. It differs from loan
in the sense that loans may be granted for longer period, but advances are normally
granted for a short period of time. Further the purpose of granting advances is to meet the
day to day requirements of business. The rate of interest charged on advances varies from
bank to bank. Interest is charged only on the amount withdrawn and not on the sanctioned
amount.
Cash credit
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Cash credit refers to a loan given to the borrower against his current assets like shares,
stock, bonds etc.
It is a short term loan facility under which banks allows its customers to take loan up to a
certain limit, normally bank grants this loan against mortgage of certain property. It can
be given to current account holders as well as to others who do not have an account with
bank. Separate cash credit account is maintained.
Bank overdraft
This type of advances is given to current account holders. No separate account is
maintained. All entries are made in the current account. Account holder can withdraw
money anytime up to the provided limit. He needs to pay interest only on borrowed
amount for the period for which he took loan.
Discounting bills
The bank can advance money by discounting or by purchasing bills of exchange both
domestic and foreign bills.
In normal day to day business, sellers send bills to buyer whenever they sell their
products and it is mentioned in bill to make payment in stipulated time. Let’s take it 30
days. In such conditions seller may discount the bill from bank for some fees. In such
situation bill discounting acts as short term loan.
Secondary Functions
In addition to the primary functions of accepting deposits and lending money, banks perform a
number of other functions, which are called secondary functions, also called as non-banking
functions.
1) Agency functions
The bank acts as an agent of its customers. The bank performs a number of agency functions
which includes transfer of funds, collection of cheques, periodic payments, portfolio
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management, and periodic collections. All of these functions are the secondary functions of the
bank.
Transfer of funds
The bank transfer funds from one branch to another or from one place to another.
Collection of cheques
The bank collects the money of the cheques through clearing section of its customers.
The bank also collects money of the bills of exchange.
Portfolio management
The banks also undertake to purchase and sell the shares and debentures on behalf of the
clients and accordingly debits or credits the account. This facility is called portfolio
management.
Periodic payments
On standing instructions of the client, the bank makes periodic payments in respect of
electricity bills, rent etc.
Periodic collection
The bank collects salary, pension, dividend and such other periodic collections on behalf
of the client.
2) Utility functions
The bank also performs several utility functions. Some of the most important utility functions of
the bank include the locker facility, underwriting of shares, dealing in foreign exchange etc.
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CHAPTER-3
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RESEARCH METHODOLOGY
Universe: Gorakhpur
Data collection:
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RESEARCH METHODOLOGY:
A research methodology is a way to systematically solve the problem or attain its objectives. It is
a very important guideline and lead to completion of any project work through observation, data
collection and data analysis.
RESEARCH DESIGN:
A framework blueprint for conducting the research. It specifies the details of the procedures
necessary for obtaining the information needed to structure and solve research problems.
SAMPLE SIZE:
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DATA COLLECTION
To determine the appropriate data for research mainly two kinds of data was collected namely
primary and secondary data as explained below:
PRIMARY DATA:
Primary data are those, which were collected afresh and for the first time and thus happen to be
original in character.
The primary data has been collected through the Questionnaire. The Questionnaire has been
properly prepared in order to cover all the Information required for the study. The primary data
has been obtained by interaction with the officials and staff in the division in the organization
and also obtained through the Questionnaire distributed to the persons in different departments in
that particular division.
SECONDARY DATA:
The secondary data has been collected through by the Manuals and also from old records
available in the organization. Some other data also collected from the websites earlier researches
and published books.
SAMPLING PROCEDURE:
Here the researcher follows the simple random sampling for conducting survey and in detail
sampling procedure is convenience sampling. This procedure is adopted based on the
convenience of the researcher time and money constraints.
SAMPLING UNIT:
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CHAPTER-4
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FINDINGS
1. 36% of the respondents are satisfied that they enjoy their work.
3. 36% of the respondents are satisfied regarding supportiveness of their superiors whereas 20%
were dissatisfied.
4. 32% employees agree that management involve them in decision making. whereas 30% gave
neutral response regarding this.
5. 30% employees are satisfied that organization is very open to ideas and suggestion given by
employees. Whereas some employees said that organization take their suggestion occasionally.
6. 40% of the respondents were satisfied with the teamwork present between the employees.
7. 34%employees are satisfied with the communication between peer and superiors.
8. 36% of the respondents are satisfied with the leadership of their superiors. 16% gave neutral
response.
9. 24% of the respondents are satisfied that their job role is interesting and challenging.
11. 44% are satisfied with the salary and bonus being offered to them. 20% gave neutral response.
12. 36% employees are satisfied with the performance appraisal system of the organization.
13. 40% employees are satisfied with the promotion policy of the organization.
14. 34% employees are satisfied with the training and development program of the organization.
15. 34% employees are satisfied with the leave policy of the organization.
16. 36% of the respondents are satisfied that environment in the organization support a balance
between and personal life.
17. All the employees are satisfied with the flexibility with respect to their family requirement.
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SUGGESTIONS
Proper action should be taken by organization to reduce the work load of employees.
Superior should support the employees. They should share a good relation with employees
Management should involve the employees in Decision making.
To motivates the employees mostly suggestion should be taken from them.
Strong emphasis should be laid on team work. Team work should be rewarded to further
motivate employees.
Communication (free and frank exchange between employees and employers) may be given
more importance.
Salary and bonus should be appropriate.
Performance appraisal should be done in fair and just manner.
The rigid policy of promotion must be done away with. Instead, deserving employees must be
promoted. Promotion decisions should be made in fair and just manner. This will lead to better
job satisfaction.
External training /seminar related to technical development should be introduced in organisation
to increase effectiveness of training programme.
Proper leave policy should be followed.
Organization should provide such work environment that is conductive to their overall
development.
Employee’s grievance should be redressed properly.
The organization should provide Job security to its employees to a great extent.
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CONCLUSION
According to the study conducted we can conclude that the overall job satisfaction level of
employees at banking sector is moderate. The research is conducted using primary data and
secondary data.
Most of the employees are satisfied with the communication network and relationship between
all the members of the organization.
Majority of the employees are satisfied with their job because of the organization provide the
adequate facilities like training and development, leave facilities etc.
However there are some employees who are dissatisfied with the grievance handling procedure,
performance appraisal system, participation in decision making etc.
The success or failure of any organization depends on its employees. They are one of pillar of the
organization. Hence, organization should try to satisfy the employees to the maximum extent.
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LIMITATIONS OF THE STUDY
All the factors affecting job satisfaction is not taken into consideration.
Sample size was limited.
Because of a small period of time only small sample had to be considered which doesn’t
actually reflect an accurate and intact picture.
Some of the respondents were not co-operative. They have not given any answer to the
questions which may affect the analysis.
Due to lockdown the research exercise was conducted within a limited duration. So a
detailed study could not be made.
The study is sensitive in nature and there might be a colour of bias in answering the
questionnaire.
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BIBLIOGRAPHY
Books
Internet Website
hdfcbank.com
Google.co.in
Managementstudy.com
citehr.com
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9. Do you find your job role interesting and challenging?
A) Highly Satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly Dissatisfied
11. Are you satisfied with the salary and bonus being offered to you?
A) Highly Satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly Dissatisfied
12. Are you satisfied with the performance appraisal system of your organization?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly Dissatisfied
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13. Are you satisfied with the promotion policy of your organization?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly Dissatisfied
14. Are you satisfied with the training and development program of your organization?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly dissatisfied
16. The environment in the organization supports a balance between work and personal life?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly dissatisfied
17. Are you satisfied with the flexibility with respect to your family requirement?
A) Yes
B) No
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18. Do you agree that your organization effectively handle employee’s grievances?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly dissatisfied
19. Are you satisfied with the job security of your organization?
A) Highly satisfied
B) Satisfied
C) Neutral
D) Dissatisfied
E) Highly dissatisfied
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