A RESEARCH REPORT

ON
EMPLOYEES SATISFACTION IN HDFC BANK LTD

SUBMITTED TOWARDS THE PARTIAL FULFILLMENT

OF THE REQUIREMENT FOR THE DEGREE OF
MASTER OF BUSINESS ADMINISTRATION
(ACADEMIC SESSION: 2009-2011)

SUBMITTED TO:

SUBMITTED BY:

Prof. Sukti Chakrabarti

NEHA KALRA
MBA (sem IV)
Roll No.-0961070029

ABES INSTITUTE OF BUSINESS MANAGEMENT

GHAZIABAD
1

STUDENT DECLARATION

I, Khushboo Gupta hereby declare that the report entitled EMPLOYEES

SATISFACTION IN HDFC BANK LTD. that has been submitted to ABES IT Group
of institute, Ghaziabad has been my original and bonafied work. I also herby certify that
the work has not been carried by any other person in the area to best of my knowledge.

KHUSHBOO GUPTA
MBA IVth sem.
Roll no: 0961070019

ACKNOWLEDGEMENT
2

When a person , guide and co-operated his or her heart is bound to pay gratitude.
It is not a single mans effort which is sufficient for the accomplishment of a Research.
Various factors, situations and persons integrate to provide the background for
accomplishment of a task requires the effort of so many people and the work is no
different.
I acknowledge here the names of those people who have been instrumental in
preparation of this Research.
I am sincerely indebted to PROF. SUKTI CHAKRABARTI

for her valuable

suggestion and inspiration to undergo this study and her unstilted help which he gave
for the completion of this Research.
My grateful thanks are also due to various others technocrats, who inspire of there
multifarious pre-occupation, were kind enough to spare time to grant me personal help
and others cooperative activities. I would also like to thanks co-operation for providing
the organizational effectiveness study in banks and supplemental information used in
this study.

KHUSHBOO GUPTA.

ABSTRACT

This study focuses on effectiveness of employees satisfaction at HDFC BANK

LTD.

To identify the relationship between supervisor and sub-ordinates. To

identify the facilities and working conditions in the organization. To identify the
training programmers organized by company for the workers. To study the
engagement activities.
This study investigated the levels of employees' satisfaction with human resource
management (HRM) practices differences in satisfaction between employee
groups. It emerges that while the levels of employees' satisfaction with
performance appraisals, staffing and pay were between high and moderate, levels
of satisfaction regarding training and development were low. Employees'
satisfaction levels with HRM varied according to personal characteristics
including gender, age, education, position, working years and registration status.
The implications of the research findings with regard to the avenue for further
research and HRM
Answers from 40 employees surveyed in a utility HDFC Bank Ltd. company
were analyzed to explore the impacts of personality traits on employee
satisfaction. Agreeableness was found to have positive effects on satisfaction,
neuroticism negatively affects satisfaction of employees. Implications of
satisfaction on the attitude of employees toward the HDFC Bank , particularly on
their affective commitment, are examined.
We examine whether self-reported employee satisfaction is associated with higher
companies valuation and productivity.

Thus, successful efforts in increasing

employee satisfaction appear to enhance overall firm productivity, which is

subsequently rewarded by investors through higher equity values.

TABLE OF CONTENT

S.NO

PARTICULARS

PAGE NO.

1.

Acknowledgement

2.

Abstract

4-5

3.

Table Of Content

4.

Introduction To Project

7-20

-objectives of study

21

-scope of study

22

-significance of study

23
25-39

5.

-company profile
Literature review

6.

Research Methodology

45-51

7.

Data Analysis and Tabulation

52-55

8.

Data Interpretation

56-67

9.

Findings.

68-69

10.

Limitations.

70

11.

Recommendations and suggestions.

71-73

12.

Conclusion.

74-76

13.

Bibliography.

77-79

14.

Annexure.

80-84

40-44

INTRODUCTION

INTRODUCTION

Employee satisfaction is the terminology used to describe whether employees are happy,
contented and fulfilling their desires and needs at work. Many measures support that
employee satisfaction is a factor in employee motivation, employee goal achievement,
and positive employee morale in the workplace.

Employee satisfaction, while generally a positive in your organization, can also be a

downer if mediocre employees stay because they are satisfied with your work
environment.

HDFC BANK LTD is a private Bank in India that provides all kinds of banking facilities
to the citizens of India. It is fluffy owned by HDFC LTD. It is the second largest private
sector Bank in India.
Employee satisfaction is a measure of how happy workers are with their job and working
environment. Keeping morale high among worker can be of tremendous benefit to HDFC
Bank as happy workers will be more likely to produce more, take fewer days off, and stay
loyal to the Bank. There are many factors in improving or maintaining high employee
satisfaction,

which

wise

employers

would

do

well

to

implement.

To measure employees satisfaction, many Banks will have mandatory surveys or face-toface meetings with employees to gain information. Both of these tactics have pros and
cons, and should be chosen carefully. Surveys are often anonymous, allowing workers
more freedom to be honest without fear of repercussion. Interviews with Bank
management can feel intimidating, but if done correctly can let the worker know that
their voice has been heard and their concerns addressed by those in charge, surveys and
meetings can truly get to the center.

Employee satisfaction is a measure of how happy workers are with their job and working
environment. Keeping morale high among worker can be of tremendous benefit to any
company, as happy workers will be more likely to produce more, take fewer days off, and
stay loyal to the company. There are many factors in improving or maintaining high
employee satisfaction, which wise employers would do well to implement.
To measure employees satisfaction, many companies will have mandatory surveys or
face-to- face meetings with employees to gain information. Both of these tactics have
pros and cons, and should be chosen carefully. Surveys are often anonymous, allowing
workers more freedom to be honest without fear of repercussion interviews with
company management can feel intimidating, but if done correctly can let the worker
know that their voice has been heard and their concerns addressed by those in charge
,surveys and meetings can truly get to the center o
Employee satisfaction is the process of assisting a person in enhancing his efficiency
and effectiveness at work by improving and updating his professional knowledge
developing his personal skills relevant to his work and cultivating in him appropriate
behavior and attitude towards his work and people he is working with development takes
place as a result of training and essentially implies growth plus change. Thus, training
and development go hand in hand. My endeavor has been to gain an in-depth insight into
the process of discovering, harnessing and developing of the human capital to the benefit
of both the individual and the organization into days highly dynamic and competitive
business world through a comprehensive study and analysis of the latest training and
development techniques used by.

Employee satisfaction, it can be statistically proved is directly correlated to customer

satisfaction. Employee satisfaction surveys are aimed at gauging the employees
attitudes towards their jobs. Not only do satisfied employees ensure satisfied customers;
when retaining people is such a challenge, it is not enough to try and keep them happy,
employees must feel it too. How can one hope to implement a retention strategy if one
An employee satisfaction survey, therefore, tracks the return on investments in keeping
the people within an organization happy: high salaries, a quality culture, healthy
environment. It has been rightly said that, Satisfied Employees Perform. But the only
way to find out if they are is through a survey.

Definition:
Employee satisfaction is the terminology used to describe whether employees are happy
and contented and fulfilling their desires and needs at work. Many measures purport that
employee satisfaction is a factor in employee motivation, employee goal achievement,
and positive employee morale in the workplace.
Employee satisfaction, while generally a positive in your organization, can also be a
downer if mediocre employees stay because they are satisfied with your work
environment.

The company's (HDFC Bank) ability to fulfill the physical, emotional, and psychological
needs of its employees. Satisfying the employee's all needs, so that he/she can give 100%
to the company .Satisfaction refers to the level of fulfillment on one's needs, desires, and
wants.

It

can

be

experienced

in

various

levels

or

degrees.

10

Happy, satisfied employees are the most attentive and helpful to the customers. An
employee with a positive attitude is contagious and can change the attitude of every staff
member they are around. However, just as a positive mind set is easily spread, so is a
negative one. If a member of the team is unhappy, watch out! His or her negatives alike.
These pessimistic employees can breed an atmosphere of low morale. This will lead to
decreased productivity, higher than normal turnover and unproductive time spent
gossiping and complaining. The expense of training each new employee so they may
excel is lost when they leave to work at some other organization because the atmosphere

organization. This is where competent attitude can become infectious, contaminating.

Employee satisfaction is a measure of how happy workers are with their job and working
environment. Keeping morale high among workers can be of tremendous benefit to any
company, as happy workers will be more likely to produce more, take fewer days off, and
stay loyal to the company. There are many factors in improving or maintaining high
employee satisfaction, which wise employers would do well to implement.

Employee satisfaction is a main function of the HR Department in a company. It's

also a challenge for management as well as a significant factor in order to
maintain good employee relations. This information is really helpful to me and
my research. -Sudhin H.Surveys are excellent to get the feedback. But they can go
more than that if management uses them wisely. The point is surveys should be
taken and without failure the results should be shared and actions should be taken
based on the outcomes. Without action, they become a management overhead task

11

and a mere piece of paper. They can also be linked to appraisals (see Time Merlin)
and eventually result in better organization and happier employees.

EMPLOYEE SATISFACTION RESEARCH:

In an annual report, the service provider lists the total number of employee
contacts, level of activity, and the level of satisfaction with the services provided.
The employees names and not included in the data provided to the employer.

When pursuing teaching opportunities, these preferences might include variables

related to overall employee satisfaction, such as receiving a competitive salary
and benefits package, or working in an intellectually challenging setting.

REASON FOR SELECTION OF THIS TOPIC:

The financial sector is one of the booming and increasing sectors in India. The Personal
Banker are one of the most powerful, efficient and effective channel through which the
company sales its various types of financial products and company takes operational
work also. It is really difficult to convince customers and sell a single product and
accomplish operational work. Whereas in my entire project work I found my interest in
working in a team, dealing with customers and finally convincing them to buy a product.

IMPORTANCE TO THE COMPANY:

12

The ultimate purpose of giving me this topic was to know about the customers
perceptions about the different products of the bank, and to know about operational
process. how these products can attract them and how the company can generate
maximum profit by convincing them through personal banker and to better understand
customer requirement and to understand operational methodology.
LEARNING FROM THE STUDY:
The process of bank related transaction, bank related various terms, work environment of
HDFC Bank. Different products and services provided by the bank. Customers
perception about the different products. The brand image of the bank. What are the
problems faced by customer on daily basis. How to communicate with the customers.
Different techniques of dealing with the customers. How to convince and convert a
customer into a real customer. and at the last how to better response to the customer
problem.

THE STATE OF EMPLOYEE SATISFACTION

13

Although committed and loyal employees are the most influential factor to becoming an
employer of choice, it's no surprise that companies and organizations face significant
challenges in developing energized and engaged workforces. However, there is plenty of
research to show that increased employee commitment and trust in leadership can
positively impact the company's bottom line. In fact, the true potential of an organization
can only be realized when the productivity level of all individuals and teams are fully
aligned, committed and energized to successfully accomplish the goals of the
organization.
As a result, the goal of every company should be to improve the desire of employees to
stay in the relationship they have with the company. When companies understand and
manage employee loyalty - rather than retention specifically - they can reap benefits on
both sides of the balance sheet i.e., revenues and costs.
One of the key steps to understanding and improving employee loyalty is by
acknowledging the importance of the following factors in building loyalty and
satisfaction:

Broadly-defined responsibilities rather than narrowly-defined job functions

Effective and regular performance evaluations, both formally and informally

A corporate emphasis on employee learning, development and growth

14

Wide-ranging employee participation in the organization as a whole

Typically, a combination of factors influences employees' decisions to stay at their

current job. Contributing factors include satisfying work, a sense of job security, clear
opportunities for advancement, a compelling corporate mission combined with the ability
to contribute to the organization's success, and a feeling that their skills are being.

THEORIES OF EMPLOYEE SATISFACTION ARE:

15

1)

NEED FULFILLMENT THEORY:

According to this theory a person is satisfied when he gets training from his Job

what he wants. The more he wants something or the more important it is to him, the more
satisfied he is when he received it. In other words, Job Satisfaction will vary directly
with the extend to which those needs of an individual which can be satisfied are actually
satisfied. Vroom views satisfaction in terms of the positively valued outcomes that a job
provides to a person. Thus, job satisfaction is positively related to the degree to which
ones needs are fulfilled. The fulfillment theory suffers from a major drawback.
Satisfaction is a function of not only what a person receives but what he feels he should
receive.

2) EQUITY THEORY:
Under this theory, it is believed that a persons job satisfaction depends upon his
perceived equity as determined by his input- output balance in comparison with the inputoutput balance of others. Every individual compares his rewards with those of a
reference group. If he feels his rewards are equitable in comparison with others doing

similar work, he feels satisfied. Job Satisfaction is thus a function of the degree to
which job characteristics meet the desires of the reference group. For example, one study
16

of the effects of community features on job satisfaction revealed that workers living in a
well to a neighborhood felt.

3.) TWO FACTOR THEORY

Frederick herzberg and his colleagues developed the two factor theory satisfaction
and dissatisfaction are interdependent of each other and exist on a separate continuums.
several studies designed to test the two factor theory proved little support to this theory.
The same factor may serve as a satisfied for one but a dissatisfied for another. It appears
from this theory that a person can be satisfied and dissatisfied at the same time.

4). DISCREPANCY THEORY:

According to this theory job satisfied depends upon what a person actually receives from
his job and what he expects to received. When the reward actually received are less than
the expected rewards but causes dissatisfied. in other wards, satisfaction is dissatisfaction
between what one actually received.
5). SOCIAL REFERANCE GROUP THEORY:
The social reference group theory is similar to the need fulfillment theory except than it

17

takes into account not the desires, needs and interests of the given individual but rather
the point of view and the opinion of the groups to whom the individual looks for
guidance.

18

Impact of certain factors on Employee satisfaction

By creating an environment in which people have an impact on the decisions and actions,
that positively affect their feelings about their job and their organization, the employee
may become satisfy and get involved in the job and the organization. Organization often
intend to work on certain dynamics, which should put positive impact on the label of
satisfaction of the employee. Such a dynamic include compensation, nature of work,
promotion, quality of super vision, work group, working conditions etc.

Compensation for the employee

Compensation for the employees is always considering it to have a positive impact on the
label of satisfaction of the employees. But unreality it is seen that the issues pertaining to
compensation has to be that very carefully, otherwise this may have adverse effect. Some
other employees are of the view that despite or the scientific approach.

Nature of work

The findings of Herzberg stated that the nature of work and the work itself has a very corelation with satisfaction. Nature of work sometime affect the personality of a person to
such an extent that he forgets the different role dimensions he has to play both in
professional as well as in personal life

19

Promotion

It is confirmed response that promotion gives satisfaction. Hence looking more into
several issues pertaining to promotion can certainly clarify this hypothesis. Such
promotion also affects the label of satisfaction adversely.

Quality of supervision :

quality of supervision affects a lot to the level of satisfaction it is found that employees
do not leave organization, rather they level the supervisors. Supervisions rather should
don the hat of a mentor and through hand holding session navigate the path of work
accomplishment.

Work group:

peers groups contribute lot to satisfaction. Peer groups help in developing the sense of
leadership in the employees. They also set the employees to get a happy environment.
This is how the impact of the work group affects the level of satisfaction of the
employees.

Working conditions:

Working conditions is another factor affecting the level of satisfaction of the employees.
This includes working hours, hours of work, support and instruments, issues pertaining to
communication.

20

OBJECTIVES

The objectives of the study as follow:

To identify the factor which improve the satisfaction level of employees.

To know the Employees satisfaction towards the facilities.

To analyze the work related stress.

To study that attitude of employees toward their work and job security.

To find out how much employees are participating in decision making.

To find out how much employees are satisfied with their salary level.

21

SCOPE OF THE STUDY

The labor investigation committee- anything done for intellectual physical, moral and
economic betterment of the workers, weather, by employers or government or other
agencies over and above what is normally expected on the part of the contracted benefits
for which workers may have bargained. The committee on labor welfare- today, welfare
is generally accepted by employers. The state steps into widen the area of the
applicability only. Welfare is being looked at as social right of workers. The committee
described it as a social security measures that contribute to improve the condition under
which workers are employed in India. (1969 report) labor welfare includes both statutory
as well as non statutory activities undertaken by the employers, trade union & both the
central & state government for the physical & mental development of workers.

22

IMPORTANCE OF THE STUDY

Employee satisfaction is supremely important in an organization because it is what

productivity depends on. If your employees are satisfied they would produce superior
quality performance in optimal time and lead to growing profits. Satisfied employees are
also more likely to be creative and innovative and come up with breakthroughs that allow
a company to grow and change positively with time and changing market conditions.

Whether employees satisfied or not.

Reasons of dissatisfaction.

How many employees are satisfied by their Job.

This study tells us how much the employees are capable & their interest at work
place.

To study on employees satisfaction helps to know the working conditions & what
are the things that affects them not to work properly.

23

Why to study about employees satisfaction

In my point of view, study of employees satisfaction helps the company to maintain a
standards and increase productivity by motivating the employees this study tell us how
much the employees are capable and their interest at work place? What are the things still
to be satisfy to the employees. Although Human Recourses are the most important
resources for any organization/ so to study on employees satisfaction helps to know the
working condition and what are the thing that affects them not to work properly. Always
majority of done by the machines but without any manual moments nothing can be done.
So to study on employees satisfaction is necessary.

24

COMPANY PROFILE

25

HISTORY OF HDFC BANK

CompanyIntroduction
HDFC Bank is one of the leading private Bank in India. One of the first Bank who have
its HR operations ISO certified. HDFC Bank has own many awards for its Best HR
Practices and for being the Best Employer. The Bank has grown with the strength of
30,000.
The Housing Development Finance Corporation Limited (HDFC) was amongst the first
to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a
bank in the private sector, as part of the RBI's liberalization of the Indian Banking
Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC Bank
Limited', with its registered office in Mumbai, India.

Founded in 1977 by hasmukh bhai parakh.

HDFC Bank was incorporated in August 1994.

Among the first in new generation commercial Banks.

Registered office in Mumbai, India.

26

Promoted by HDFC, the parent company.

IOP in India in 1995.

Listed in NES, BES.

PROMOTER
HDFC is India's premier housing finance company and enjoys an impeccable track
record in India as well as in international markets. Since its inception in 1977, the
Corporation has maintained a consistent and healthy growth in its operations to remain
the market leader in mortgages. Its outstanding loan portfolio covers well over a million
dwelling units. HDFC has developed significant expertise in retail mortgage loans to
different market segments and also has a large corporate client base for its housing
related credit facilities. With its experience in the financial markets, a strong market

27

reputation, large shareholder base and unique consumer franchise, HDFC was ideally
positioned to promote a bank in the Indian environment.
BUSINESS FOCUS
HDFC Bank's mission is to be a World-Class Indian Bank. The objective is to build
sound customer franchises across distinct businesses so as to be the preferred provider of
banking services for target retail and wholesale customer segments, and to achieve
healthy growth in profitability, consistent with the bank's risk appetite. The bank is
committed to maintain the highest level of ethical standards, professional integrity,
corporate governance and regulatory compliance. HDFC Bank's business philosophy is
based on four core values - Operational Excellence, Customer Focus, Product Leadership
and People.

28

PROFILE OF HDFC BANK LTD.

Type:

Public

Founded:

1994.

Headquarters:

HDFC Bank Ltd.

Mumbai, India.

Industry:

Banking, Insurance
Capital market and allied industries

.
Products:

Loan, credit cards, saving,

investment vehicles, insurance etc.

Website:

www.hdfcbank.com

29

DISTRIBUTION NETWORK

HDFC Bank headquartered is in Mumbai. The Bank at present has an enviable network
of over 1229 branches spread over 444 cities across India. All branches are linked on an
online real-time basis. Customers in over 120 locations are also serviced through
Telephone Banking. The Bank's expansion plans take into account the need to have a
presence in all major industrial and commercial centers where its corporate customers are
located as well as the need to build a strong retail customer base for both deposits and
loan products. Being a clearing/settlement bank to various leading stock exchanges, the
Bank has branches in the centers where the NSE/BSE has a strong and active member
base. The Bank also has a network of about over 2526 networked ATMs across these
cities. Moreover, HDFC Bank's ATM network can be accessed by all domestic and
international Visa/MasterCard, Visa Electron/Maestro, Plus/Cirrus and American Express
Credit/Charge cardholders.

761 Branches

1977 ATM in the India.

30

327 cities in India.

All branches are OLRT connected.

16 branches in middle east

6 in Africa Reprehensive offices in Hong Kong, New York, London and

Singapore.

MISSION OF HDFC BANK

Their Mission ( as stated in the Company's website ):

To be the top new company in the market.
This does not just mean being the largest or the most productive company in the market,
rather it is a combination of several things like-

Word class India Bank.

Benchmarking against international standards.

Best practices in terms of product offerings, technology, service levels, risk

management and audit and compliance.

To build sound customer franchise across distinct businesses.

Customer service of the highest order.

Innovative products to cater to different needs of different customers

31

To build sound customer franchise across distinct businesses

BUSINESS STRATEGY

Increasing market share in Indias expending Banking.

Delivering high quality customer service.

Delivering more products to more customers.

Maintaining current high standards for asset quality through disciplined credit risk
management.

Develop innovative product and services that attract targeted customer and
address inefficiencies in the India financial sector.

32

PRODUCT SCOPE

HDFC Bank offers a bunch of products and services to meet the every need of the people.
The company cares for both, individuals as well as corporate and small and medium
enterprises. For individuals, the company has a range accounts, investment, and pension
scheme, different types of loans and cards that assist the customers. The customers can
choose the suitable one from a range of products which will suit their life-stage and
needs. For organizations the company has a host of customized solutions that range from
funded services, Non-funded services, Value addition services, Mutual fund etc. These
affordable plans apart from providing long term value to the employees help in enhancing
goodwill of the company. The products of the company are categorized into various
sections which are as follows:
PRODUCT AND SERVICES:

Travelers cheques
33

Credit cards

Home loan

Personal loan

Foreign currency cash

Foreign currency demand draft

Cheques deposits

Trade services mutual fund

Insurance

34

BRAND PERSONALITY

HDFC Brand identity based on consumer perception and group aspiration.

Knowledgeable of the latest business practices; has incorporated the best but

Believes that ultimately successful business decisions are based on instincts

ratherthan logical processes.

Values Indian traditional and rituals.

HDFC is the quintessential Indian entrepreneur in touch with the global world.

Constantly looking for new opportunities to grow business and make money.

Believes in no guts, no glory.

HDFC is seen as a leader in their field, not only in thoughts but also in their

Ability to spot opportunities and build on them.

MAKING OF A BRAND

35

Started operation in October 2000.

Need for private players to establish brands.

KEY EXECUTIVES
Mr. Aditya Puri , 59
Managing Director, Director, Member of Investors
Grievance (Share) Committee, Member of Fraud
Monitoring Committee, Member of Premises
Committee, Member of Credit Approval Committee
and Member of Risk Monitoring Committee
Mr. Harish Engineer,60
Head of Wholesale Banking, Exec. Director and
Member of Customer Service Committee
Mr. Paresh Sukthankar,46
Head of Credit, Market Risk & Investor Relations,
Exec. Director and Member of Risk Monitoring
Committee
Mr. Deepak S. Parikh,64
Exec. Chairman
Mr. Debajeet Das,
VP, Treasury

36

CAPITAL STRUCTURE

The authorized capital of HDFC Bank is Rs550 crore (Rs5.5 billion). The paid-up capital
is Rs424.6 crore (Rs.4.2 billion). The HDFC Group holds 19.4% of the bank's equity and
about 17.6% of the equity is held by the ADS Depository (in respect of the bank's
American Depository Shares (ADS) Issue). Roughly 28% of the equity is held by Foreign
Institutional Investors (FIIs) and the bank has about 570,000 shareholders. The shares are
listed on the Stock Exchange, Mumbai and the National Stock Exchange. The bank's
American Depository Shares
profitability, consistent with the bank's risk appetite. The bank is committed to maintain
the highest level of ethical standards, professional integrity, corporate governance and

37

regulatory compliance. HDFC Bank's business philosophy is based on four core values Operational
Excellence, Customer Focus, Product Leadership and People.

ACHIEVEMENTS

HDFC BANK merged with times Bank in 2000.

HDFC Bank wins the Asian Banker best Retail Bank in India Award 2008 for
outstanding performance.

HDFC Bank chosen as one of Asia pacifies best so companies by Forbes

magazine.

Best Bank in the private sector 2008.

HDFC Bank ties up with quarter National Bank.

38

TECHNOLOGY

HDFC Bank operates in a highly automated environment in terms of information

technology and communication systems. All the bank's branches have online
connectivity, which enables the bank to offer speedy funds transfer facilities to its
customers. Multi-branch access is also provided to retail customers through the branch
network and Automated Teller Machines (ATMs). The Bank has made substantial efforts
and investments in acquiring the best technology available internationally, to build the
infrastructure for a world class bank. The Bank's business is supported by scalable and
robust systems which ensure that our clients always get the finest services we offer. The
Bank has prioritized its engagement in technology and the internet as one
HDFC Bank operates in a highly automated environment in terms of information
technology and communication systems. All the bank's branches have online

39

connectivity, which enables the bank to offer speedy funds transfer facilities to its
customers. Multi-branch access is also provided to retail customers through the branch
network and Automated Teller Machines (ATMs). The Bank has made substantial efforts
and investments in acquiring the best technology available internationally, to build the
infrastructure for a world class bank. The Bank's business is supported by scalable and
robust systems which ensure that our clients always get the finest services we offer. The
Bank has prioritized its engagement in technology and the internet as one of its key goals
and has already made significant progress.

REVIEW OF LITERATURE

40

REVIEW OF LITERATURE
Paul L. Gerhardt, Jr. The King County Library
(KCLS.org) and Chapman University Library Network System will be used as well.

Employers have a need to keep employees from leaving and going to work for
other companies. This is true because of the great costs associated with hiring and
retraining new employees. The best way to retain employees is by providing them with
job satisfaction and opportunities for advancement in their careers. The saying, good help
is hard to find, is even truer these days than ever before because the job market is
becoming increasingly tight (Eskildesen 2000, Hammer 2000). Eskildsen and Nussler
(2000) suggest that employers are fighting to get talented employees in order to maintain
a prosperous business. Ray Hammer (2000) as well as many other researchers/authors
agree. Mark Parrott (2000) believes that, there is a straight line between employee
satisfaction and customer satisfaction. He believes that todays employees pose a
complete new set of challenges, especially when businesses are forced to confront one of
the tightest labor markets in decades. Therefore, it is getting more difficult to retain
employees, as the pool of talent is becoming more-andmore tapped-out. The research

41

below, which focuses primarily on employee retention through job satisfaction, supports
this contention.
Employees that are satisfied and happy in with their jobs are more dedicated to doing a
good job and taking care of customers that sustain the operation (Hammer 2000; Marini
2000; Denton 2000). Job satisfaction is something that working people seek and a key
element of employee retention. 2 Every person will have his or her own definition of
what it means to be satisfied
with a job. Studies show that employees who are satisfied with their jobs are more
productive, creative and be more likely to be retained by the company (Eskildsen &
Dahlgaard 2000; Kim 2000; Kirby 2000; Lee 2000; Money 2000; Wagner 2000).
Research has shown that there may be many environmental features that can be created
and maintained to give employees job satisfaction. Pay and benefits, communication
(Brewer 2000; Employee 2000; Money 2000; Wagner 2000), motivation, justice (Kirby
2000; Tristram 2000) and leisure time (Rabbit 2000; Wilson 2000) all seem to play a part
as to whether employees are satisfied with their jobs, according to studies. The second
goal of this research is to help readers find his or her definition of job satisfaction. I
believe that this compilation of data will educate and inform the working masses to see
the benefits of creating workplaces that derive more job satisfaction, retaining employees
and in turn, keeping our economy healthy and our society happier. There is a definite
need to analyze the elements of employee retention through job satisfaction. Considering
the positive effects on the economy that can be derived from satisfied-happy employees.
Promotional

materials

for

presentation

can

be

created,

highlighting

these

recommendations for employee satisfaction practices for

42

both employers and employees.

KATHERINE I. MILLER MICHIGAN state University
PETER R MONGE, University of southern California
This paper reports a meta-analytical literature review testing cognitive, Affective and
contingency models of the effects of participation in decision making on employees
satisfaction and productivity. Contingency models received no support. Results from field
studies provided some support for cognitive models, and strong support for affective
models linking participative climate with worker satisfaction. Model logical variations
such as research setting and type of participant were important moderators in sub group
analysis. We discuss the implications of such variations per task complexity.
David Lars Halverson
School of Technology
Masters of Science
Employee satisfaction and empowerment are vital elements to businesses in most
Industries. The construction industry has various types of employees, ranging from
managers and executives to on-site supervisors and laborers. This study was conducted to
obtain a greater understanding about the elements and levels of satisfaction and
empowerment of on-site supervisors in the residential construction industry. An on-site
supervisor in the residential construction industry is responsible for coordinating and
managing employees, materials, equipment, budgets, schedules, contracts, and the safety
of employees and the general public. They are also the employees most frequently
perceived as accountable for the success or failure of any project. Following a thorough

43

review of the related literature, a questionnaire was developed to determine the levels of
satisfaction and empowerment of on-site supervisors. This questionnaire was distributed
by e-mail to on-site supervisors of companies on Professional Builders top 400 list for
2005. A total of 122 on-site supervisors completed the survey. Statistical tools, including
Pearsons product-moment correlation and coefficient of determination, were utilized to
analyze the gathered data that identified the satisfaction and empowerment levels of onsite supervisors. It was discovered that a statistically significant correlation existed
between satisfaction and empowerment. In addition,
descriptive statistics were used to create lists of major elements leading to employee
satisfaction and empowerment.
anything to avoid yet another negative influence in their lives.The costs associated with
low employee morale can be calculated by looking at the expenses associated with
decreased productivity, unresolved conflict, employee turnover, and unproductive time
spent gossiping and complaining to co-workers. Is it possible to create an environment
where employees are motivated to do their jobs to the best of their abilities - and
communication satisfaction to everyone around them? The answer is yes, when
management takes the time to learn what motivates employees to do their best work, and
what contributes to a sense of well being and satisfaction.

44

RESEARCH METHODOLOGY

45

Research Methodology

Research methodology is defined as highly intellectual human activity used in the

investigation of nature and matter and deals specifically with the manner in which data is
collected, analyzed and interpreted.
Research methodology is a way to systematically solve the research problem. It may be
understood as a science of studying how research is done scientifically. In it we study the
various steps that are generally adopted by a researcher in studying his research problem
along with the logic behind them. It is necessary for the researcher to know not only the
research methods but also the methodology.
For the researcher to design his methodology for his problem as the same may differ from
problem to problem.
In research methodology we not only discuss the research methods but also consider the
logic behind the methods we use in the context of our research study.

46

RESEARCH DESIGN

A framework or blueprint for conducting the research project. It specifies the details of
the procedures necessary for obtaining the information needed to structure and/or solve
research problems. A good research design lays the foundation for conducting the project.
A good research design will ensure that the research project is conducted effectively and
efficiently. Typically, a research design involves the following components, or tasks:

Define the information needed.

Design the research.

Specify the measurement and scaling procedures.

Construct and present a questionnaire or an appropriate form for data collection.

Specify the sampling process and sampling size.

Develop a plan of data analysis.

DATA COLLECTION:
The task of data collection is begins after a research problem has been defined and
research designed/ plan chalked out. Data collection is to gather the data from the
population. The data can be collected of two types:

1. Primary Data

2. Secondary Data
47

PRIMARY DATA
Here the respondents were met directly to collect information by means of personal
interviews. A Questionnaire was prepared for their views were collected.

Personal Interview

Questionnaire

Secondary Data

The Secondary Data are those which have already been collected by someone else and
which have already been passed through the statistical tool. Methods of collection of
Secondary data

Newspapers.

Magazines

Journals

Internet

Libraries

48

Old records.

DATA COLLECTION INSTRUMENT DEVELOPMENT:-

The mode of collection of data will be based on Survey Method and Field Activity.
Primary data collection will base on personal interview. I have prepared the questionnaire
according to the necessity of the data to be collected.

Universe:

Sample Size:

Sample Survey:

Time Period:

Data Type:

Employee from HDFC Bank Ltd.

40.

Employees.

30 Days

Primary Data.

49

Sample Selection:

Convenience

QUESTIONNAIRE DESIGN
A Questionnaire was prepared for the responses of employees of HDFC Bank. The
questionnaire was designed on the primary objectives was close ended type.

OBJECTIVE OF A QUESTIONNAIRE

It must translates the information needed into a set of specific questions that the
respondents can and will answer.

A questionnaire must uplift, motivate, and encourage the respondent to become

involved in the interview, to cooperate, and to complete the interview.

A questionnaire should minimize response error.

SAMPLE DESIGN

50

The primary data was collected through survey that was systematically carried in HDFC
Bank. The responses of the respondent were recorded in the questionnaire prepared for
them. The data was collected through personal interview.

SAMPLING PLAN
This refers to the number of items that were selected for the surveys I used primary data
and secondary data in my research.
The research design used in descriptive, structure and quantitative in nature.
It gives a detailed analysis of employees satisfaction in HDFC Bank. The questionnaire is
in a structured and sequenced format. The research is qualitative in nature as only the
concerned of personnel in the company have been surveyed.

The methodology used by me in this project can be enumerated as follows:

1. The first step is the collection of material related to project from the book and the
internet

51

2. After going through all the material collected, I formulated the questionnaire
containing questions based on employees satisfaction styles in both the organizations.
This provides consistency to my research.

3. Next step is survey of both organizations to get the questionnaire filled by the
employees.

4. After completing the process the next step is to statistically analyze the information
provided by both the organizations in the form of questionnaire.

52

DATA ANALYSIS AND

TABULATION

Data analysis

ANALYSIS
The analysis of this project begins with analysis of each question.
ANALYSIS AND INTERPRETATION
Managers need information, not raw data. Research helps in generating information by
analyzing data after its collection .data analysis usually involves reducing accumulated

53

data to a manageable size, developing summaries, looking for patterns and applying
statististical techniques. Scaled responses on questionnaires and experimental instruments

Process of data can be categories into:

1) Editing
2) Coding
3) Classification
4) Tabulation
The data after collection has to be proceed & analyze in accordance with the outline laid
down for the purpose at the time of developing the research plan this is essential for a
scientific study and for ensuring that we have all relevant data for making contemplated
comparison and Analysis.
Technically speaking, processing implies, editing, coding, classification and tabulation of
collected data so that they are amenable to analysis the term analysis refers to the
computation of certain measure along with searching for pattern of relationship that exist
among data group thus, :In the process of analysis, relationship or differences supporting
or conflicting with original or new hypothesis should be subjected to statistical test of
significance to determine with what validity data can be said to indicate any conclusion.
The concept of processing and analysis, can now proceed with the explanation of all the
processing operations-

1) Editing: - Editing involves a careful scouting of the completed questionnaire add/ or

schedules. Editing is done to assure that the data are accurate, consistent

54

With other facts gathered, uniformly entered, as completed as possible

And have been well arranged to facilitate coding & tabulation.

2) Coding: - Coding is necessary for efficient analysis and through it the several replies
may be reduced to a small number of classes which contain the critical
Information required for analysis. Coding decision should usually be taken
At the designing stage of the questionnaire.

3) Classification:- The necessities classification of data which happen to be the process

of arranging data in group or classes on the basis of common characteristic of data having
a common characteristic are placed I one class and in this way the entire data get divided
into a number of group or classes.
.
4) Tabulation: - Tabulation is the process of summarizing row data & displaying the
same in compact form (i.e. in the form of statistical tables) for further analysis. In a
broader sense, tabulation is an orderly arrangement of data in columns & rows.

55

DATA INTERPRETATION

56

1). To which department you belong to?

DEPARTMENT
Retail
ATM
Clerk
Manager

RESPONSE
22(54%)
11(28%)
4(10%)
3(8%)

57

Interpretation

From the collected data it has been concluded that among all the respondent 54%
employees works in retail deptt, 28% employees works in ATM, 10% works as a clerk
and 8% as manager.

2. Since how long you are working in HDFC bank?

EMPLOYEES
One year to less than five year
Five year to less than ten year
Ten year to less fifteen year

Response
18(44%)
11(28%)
7(18%)
58

Above fifteen year

4(10%)

Interpretation:
Among all the respondents it has been concluded that, 44% employees works one year
to less than five year ,28% of employees works five year to less than ten year, 18% works
ten year to less fifteen year, while only 10% employees have been working in hdfc bank
more than fifteen year

3. Do you like your job?

Data
Like very much
Like
Dislike

Response
7(18%)
15(37%)
13(32%)
59

Dislike very much

5(18%)

Interpretation:
Among all the respondents it has been concluded that 37% of employees like their work,
while 32% employees dislike their work. 18% like their job very much while 13% of
employees dislike their work very much.

4. Do you feel that there is an opportunity of career

enhancement and growth exist in hdfc bank related to your
job?
YES

NO

28

12
60

Interpretation

80% of employees feels that there is growth and career enhancement opportunity exist in
hdfc bank while 20% feel that such opportunity does not exist among all the respondent.

5. Are you satisfied with your salary level?

EMPLOYEES

Highly Unsatisfied
Unsatisfied
Moderate
Satisfied
Highly Satisfied

RESPONSE
5
8
7
12
8
61

Interpretation

Among all the respondent it has been conclude that 29% of employees are satisfied
with their salary level, while 20% are unsatisfied , 18% are moderate, while 13% of
employees are highly unsatisfied and 20% are highly satisfied.

6. Is job rotation opportunity is provided by HDFC Bank?

YES
32

NO
8

62

Interpretation

Among all the respondent it has been concluded that80% of employees feels that job
rotation facility is provided by hdfc bank while 20% feel that such opportunity doesnt
exist.

7. Do you agree with this fact that management gives

importance to professional and personal life?

EMPLOYEES

RESPONDANTS
63

Strongly Disagree
Disagree
Agree
Strong Agree

Interpretation

7(18%)
9(23%)
16(39%)
8(20%)

from the data it has been concluded that 39% employee agree that management gives
importance to personal and professional life, 23% disagree with this, 20% is strongly
agree while 18% are strongly disagree.

8. Do you feel there is a requirement of change in your

department to improve working condition?

YES

NO
64

26(65%)

Interpretation

14(35%)

65% of employees feel that there is a requirement of change to improve working

condition, while 35% dont feel so among all the employees.

9. Canteen facilities are available in BANK?

YES
31(77%)

NO
9(23%)

65

Interpretation

77% of employees says that canteen facility is available in Bank while 23% employees
feels no such facility is available.

10. Which type of job have you got?

PERMANENT

TEMPORARY
66

40%

Interpretation

60%

55% employees jobs are of temporary nature while 45% employees job is of permanent
nature among all the employees.

11. Did HDFC provide you Training as and when you

required?
YES
38

NO
8
67

Interpretation

77% of employees feels that hdfc provides them training as when they required while
23% doesnt feels so among all the employees.

68

Findings

Findings

69

A survey was conducted in organization for knowing the employees are satisfied in their
organization. The findings were as follows:

From the graphs, it is evident that most of respondents 80% employees feel that
the career enhancement opportunity and growth activities more in their
organization. but the organization should serve the environment provide the
opportunity to capable employees.

More employees 75% say job rotation opportunity is provided by HDFC Bank.
but many areas are still in state of neglect.

From the responses it is clear that HDFC Bank provide as much initiate training
as their needed. But the employees suggested that the training program should be
conducted more frequently and time to time.

They feel that is change is requiring in their department to improve working

conditions. They not much happy in the real working condition of their
department.

77% employees say canteen facilities are availed by HDFC Bank to all the
employees.

The employees "HDFC Bank Ltd" are highly satisfied with the career enhance
opportunity and growth in our job.

Limitation

70

There are various limitation faced during the study as the study bis related to the human psychology
and behaviour basically.
Every work has its own limitation. Limitations are extent to which the process should not
exceed. The limations and constraints faced while conducting this study are below:

Due to time and cost restriction, the study is concerntrated in selected areas only
head office of HDFC Bank ltd.

Lack of spontaneous cooperation from respondents

In case of collecting data from primary respondent, they tried to provide data in
hurry and some employees feared to provide answer or hide information like
salary structure or year of experiences.

Getting appointment from the concern person was very difficult.

People mind set about the survey was obstacles in acquiring complete
Respondents were very busy in their schedule. So it was very time consuming for
information & positive interaction, them to answer all the questions properly.

71

Recommendation and suggestion

Recommendation and suggestion

72

Employee satisfaction surveys and facilitated focus groups help the employer identify
areas of employee satisfaction and dissatisfaction. For accurate, reliable results, employee
satisfaction surveys or focus group questions need to be:

I would like to sum up:

To increase satisfaction and retention of employees.

It will help in reducing the factors leading to absenteeism and staff turnover.

It will help in generating factors which can defuse tension and improve working condition.

The method of recruitment should be improved

a. Select the right person for the right job

b. .Promotion policy should be improved
c. Management should check the performance of their employees time to time.
d. Overall work environment should also be improved

The system of communication should be improved. In order to improve the

communication among the employees of the organization and to being about the
cohesive among the employees a series of interactive meeting can be organize.

Strategic planning should consider crucial for the development and growth of
organization. understand the employees through serve and provide the opportunity
and growth for the increase the satisfaction level.

73

Higher level management must provide proper training. We suggested that the
training program should be conducted more frequently and time to time.

74

Conclusion

75

Conclusion
An extensive review of the topic "Study of the employees satisfaction." it was found that
the most important factors conducive to employees satisfaction are:
the motivational factors: " Rewards or Payment,
Supportive working environment and
The work itself.
Working hours.
Clean and hygienic working place.
It was also found that the primary source of job satisfaction among Job Work
assignees was the sense of achievement experienced by them while on the job.
However, in the same study feelings of dissatisfaction were found to be stemming
from the work itself. The same and the work that was repetitive in nature and not apt
according to the qualification of some of the employees were seen also some of the
major factors leading to dissatisfaction were:Low payment
Job tenure (3 months) leading to job insecurity among the Job Work
Assignees
mind the various factors leading to the job satisfaction and by enhancing the profile of
job.

Employees tend to prefer jobs that give them opportunities to use their skills and
abilities and offers freedom and feedback. They want pay system and promotion

76

policies
that they perceive as being just and ambiguous and in line with their expectations.
When
pay is seen as fair that is based on job and individual skills, satisfaction is likely to
result.

Employees are also concerned with their work environment for both personal

as well as professional life.

So finally it is concluded that the level of job satisfaction is there but need to be increased
and maintained.

77

BIBLIOGRAPHY

78

BIBLIOGRAPHY

BOOKS:
1. Allison, Melissa. Some Chicago Employers Aim to Keep Employee Satisfaction
as High Level. Knight-Ridder/Tribune Business News (Sept 2000): 17
2. Eskildesen, Jacob and Mikkel Nussler. The managerial drivers of employee
satisfaction and loyalty. Total Quality Management (July 2000): 581
3. Allison, Melissa. Some Chicago Employers Aim to Keep Employee Satisfaction
as High Level. Knight-Ridder/Tribune Business News (Sept 2000): 17
4. Krishnan R Santana, Employees satisfaction in Knoledege Industry in India,
ICFAI University Press Publishers, 2008, Pg:22-44

WEB SITE:
www.wikipedia.org
www.hdfcbank.in

79

MAGAZINES:

Business Today

India today

Information Bulletins

NEWS PAPERS:

Economics times

Business lines

Financial express

80

ANNEXURE

81

ANNEXURE
NAME:
MOB NO.:
ADREES:

1. To which department you belong to?

___________________.
2. Since how long you are working in HDFC bank?

One year to less than five year

Five year to less than ten year

Ten year to less fifteen year

Above fifteen year

3. Do you like your job?

Like Very much

82

Like

Dislike

Dislike very much

4. Do you feel that there is an opportunity of career enhancement and growth exist in
HDFC bank related to your job?

YES

NO

5. Are you satisfied with your salary level?

Highly Unsatisfied

Unsatisfied

Moderate

Satisfied

Highly satisfied

83

6. Is job rotation opportunity is provided by HDFC Bank?

YES

NO

7. Do you agree with this fact that management gives importance to professional and
personal life?

Strongly Dislike

Dislike

Agree

Strongly agree

8. Do you feel there is a requirement of change in your department to improve working

condition?

84

YES

No

9. Canteen facilities are available in BANK?

YES

NO

10. Which type of job have you got?

Permanent

Temporary

11. Did HDFC provide as much initiate Training as you needed?

YES

NO

85

86