A STUDY ON JOB SATISFACTION With reference to CANARA BANK A Report Submitted to Gitam Institute of Management, GITAM University in partial

fulfillment for the award of the degree of

BACHELOR of BUSINESS MANAGEMENT Submitted by SATYANARAYANA.K

Under the esteemed guidance of Mrs B.KRISHNA KUMARI Asst. Professor

GITAM INSTITUTE of MANAGEMENT AN INSTITUTION ACCREDITED WITH A GRADE BY NAAC GITAM University, Visakhapatnam

DECLARATION

I, SATYANARAYANA hereby declare that this project report entitled A STUDY ON JOB SATISFACTION with special reference to CANARA BANK, is submitted to GIM-GITAM UNIVERSITY in partial fulfillment for the award of the degree of BACHELOR OF BUSINESS MANAGEMENT. This is bonafide work carried out by me under the guidance of Krishna kumara and has not been submitted to any other university or institute or published earlier.

Date: Place: name:

CERTIFICATE

This is to certify that the project entitled A STUDY ON JOB SATISFACTION with special reference to CANARA BANK is a bonafide work carried out by SATYANARAYANA under my guidance, and has been submitted in the partial fulfillment for the award of the degree of BACHELOR OF BUSINESS MANAGEMENT.

place : vishakapatnam Mrs. B. KRISHNAKUMARI Date: (Asst. Professor)

ACKNOWLEDGEMENT

I would like to express my sincere gratitude TO PROF. K .SIVA RAMA KRISHNA, PRINCIPAL, GITAM INSTITUTE OF MANAGEMENT, GITAM UNIVERSITY, Visakhapatnam, for giving the opportunity to work on this project.

I am grateful to DR. K.MANJU SREE NAIDU, HEAD OF DEPARTMENT, GITAM INSTITUTE OF MANAGEMENT, GITAM UNIVERSITY, Visakhapatnam, for giving me the opportunity to work on this project and for her valuable advice.

I take this opportunity to record my everlasting thanks and heartily feeling of gratitude to my project guide, MS. B.KRISHNA KUMARI ,GITAM INSTITUTE OF MANAGEMENT, GITAM UNIVERSITY, Visakhapatnam for her constant encouragement and guidance for the successful completion of the project work.

I am sincerely thankful to Mr. SHIVA (BANK Manager) for allowing me to do my project on CANARA BANK and to helping me out for completing this project by their guidance and valuable advice and suggestions.

Job Satisfaction among Canara Bank Employees

TABLE OF CONTENTS Chapters

1. THEORETICAL PERSPECTIVE
2. COMPANY PROFILE

3. RESEARCH METHODOLOGY 4. DATA ANALYSIS & INTERPRETATION 5. FINDINGS , SUGGESTIONS AND CONCLUSION

6. BIBLIOGRAPHY 7.ANNEXURES

CHAPTER- 1 THEORETICAL FRAMEWORk

JOB SATISFACTION
Introduction
Human life has become very complex and completed in now-a-days. In modern society the needs and requirements of the people are ever increasing and ever changing. When the people are ever increasing and ever changing when the peoples needs are not fulfilled they become dissatisfied. Dissatisfied people are likely to contribute very little for any purpose. Job satisfaction of industrial workers us very important for the industry to function successfully. Apart from managerial and technical aspects, employers can be considered as backbone of any industrial development. To utilize their contribution they should be provided with good working conditions to boost their job satisfaction.. Job satisfaction is important technique used to motivate the employees to work harder. It is often said that A HAPPY EMPLOYEE IS A PRODUCTIVE EMPLOYEE. A happy employee is generally that employee who is satisfied with his job. Job satisfaction is very important because most of the people spend a major portion of their life at working place. Moreover, job satisfaction has its impact on the general life of the employees also, because a satisfied employee is a contented and happy human being. A highly satisfied worker has better physical and mental well being.

Definitions:

In simple words , job satisfaction can defined as extent of positive feelings or attitudes that individuals have towards their jobs. When a person says that he has high job satisfaction , it means that he really likes his job, feels good about it and value his job dignity.

ANDREW BRIN
Job satisfaction is the amount of pleasure or contentment associated with a job. If you like your job intensely, you will experience high job satisfaction.if you dislike your job intensely, you will experience job dissatisfaction.

Creating Job Satisfaction

So, how is job satisfaction created? What are the elements of a job that create job satisfaction? Organizations can help to create job satisfaction by putting systems in place that will ensure that workers are challenged and then rewarded for being successful. Organizations that aspire to creating a work environment that enhances job satisfaction need to incorporate the following:

Flexible work arrangements, possibly including telecommuting Training and other professional growth opportunities Interesting work that offers variety and challenge and allows the worker opportunities to "put his or her signature" on the finished product Opportunities to use one's talents and to be creative Opportunities to take responsibility and direct one's own work A stable, secure work environment that includes job security/continuity An environment in which workers are supported by an accessible supervisor who provides timely feedback as well as congenial team members Flexible benefits, such as child-care and exercise facilities Up-to-date technology Competitive salary and opportunities for promotion .

FACTORS INFLUENING JOB SATISFACTION

SOURCES OF JOB SATISFACTION

Organizational factors

Work environment

Work itself

Personal factors

There are no. of factors that influence job satisfaction in an organization. A no. of research studies have been conducted in order to establish some of the causes that result in job satisfaction. These studies have revealed consistent correlation of certain variables with the job satisfaction.

DETERMINANTS OF JOB SATISFACTION

While analyzing the various determinants of job satisfaction, we have to keep in mind that: all individuals do no derive the same degree of satisfaction though they perform the same job in the same job environment and at the same time. Therefore, it appears that besides the nature of job and job environment, there are individual variables which affect job satisfaction. Thus, all those factors which provide a fit among individual variables, nature of job, and situational variables determine the degree of job satisfaction. Let us see what these factors are:

Individual factors:

Individuals have certain expectations from their jobs. If their expectations are met from the jobs, they feel satisfied. These expectations are based on an individuals level of education, age and other factors.

Level of education:
Level of education of an individual is a factor which determines the degree of job satisfaction. For example, several studies have found negative correlation between the level of education, particularly higher level of education, and job satisfaction. The possible reason for this phenomenon may be that highly educated persons have very high expectations from their jobs which remain unsatisfied. In their case, Peters principle which suggests that every individual tries to reach his level of incompetence, applies more quickly.

Age:
Individuals experience different degree of job satisfaction at different stages of their life. Job satisfaction is high at the initial stage, gets gradually reduced, starts rising upto certain stage, and finally dips to a low degree. The possible reasons for this phenomenon are like this. When individuals join an organization, they may have some unrealistic assumptions about what they are going to drive from their work. These assumptions make them more satisfied. However, when these assumptions fall short of reality, job satisfaction goes down. It starts rising again as the people start to assess the jobs in right perspective and correct their assumptions. At the last, particularly at the fag end of the career, job satisfaction goes down because of fear of retirement and future outcome.

Other factors:
Besides the above two factors, there are other individual factors which affect job satisfaction. If an individual does not have favourable social and family life, he may not feel happy at the workplace. Similarly, other personal problems associated with him may affect his level of job satisfaction. Personal problems associated with him may affect his level of job satisfaction.

CONSEQUENCES OF JOB SATISFACTION

Reasearch has concluded that there is a relationship between job satisfaction and performance of the employees. Thus, job satisfaction or job dissatisfaction is an important concern for management. High job satisfaction may lead to improved productivity , decreased turnover , improved attendance , less job stress. Job dissatisfaction produces low morale among the employees and more of stress. The following subtopics explain the outcomes of job satisfaction: 1). Job satisfaction and productivity : There are two views about the relationship between job satisfaction and productivity: 1. A happy worker is a productive worker, 2. A happy worker is not necessarily a productive worker. . 2). Job satisfaction and absenteeism: Absenteeism refers to the frequency of absence of job holder from the workplace either unexcused absence due to some avoidable reasons or long absence due to some unavoidable reasons. It is the former type of absence which is a matter of concern. This absence is due to lack of satisfaction from the job which produces a lack of will to work and alienate a worker form work as for as possible. Thus, job satisfaction is related to absenteeism. 3). Job satisfaction and union activities: High level of job satisfaction reflects a highly favourable organizational climate resulting in attracting and retaining better workers. Satisfied employees are not interested in unions and they do not perceive them as necessary.

4). Job satisfaction and safety: When people are dissatisfied from their jobs, company and supervisors, they are more prone to experience accidents. A satisfied worker will always be careful and attentive towards his job and the chances of accidents will be less.

CHAPTER - 2

COMPANY PROFILE

COMPANY PROFILE
A Brief Profile of the Canara Bank Canara Bank is a major commercial bank. It was established in India in 1906, which makes it
among the older Indian banks. As of 2008, the bank had a network of 2641 branches, spread across India and other countries. Its head office is located in Bangalore, India. The bank also has international presence in several centers, including London, Hong Kong, Moscow, Shanghai,

Doha, and Dubai. In terms of business it is one of the largest nationalized commercial banks in India, with a total business of about Rs.2 trillion.

History
In 1906 the late Sri. Ammembal Subba Rao Pai, a philanthropist, established the Canara Bank Hindu Permanent Fund in Mangalore, India.[1] The bank changed its name to Canara Bank Limited in 1910 when it incorporated. In 1958, the Reserve Bank of India ordered Canara Bank to acquire G. Raghumathmul Bank, in Hyderabad. This bank had been established in 1870, and had converted to a limited company in 1925. At the time of the acquisition the bank had five branches.[2] The Government of India nationalised Canara Bank, along with 13 other major commercial banks of India, on 19 July 1969. In 1983, Canara Bank opened its first overseas office, a branch in London. In 1985, Canara Bank acquired Lakshmi Commercial Bank in a rescue.

Founding Principles

To remove superstition and ignorance. To spread education among all to sub-serve the first principle. To inculcate the habit of thrift and savings. To transform the financial institution not only as the financial heart of the community but the social heart as well. To assist the needy. To work with sense of service and dedication. To develop a concern for fellow human being and sensitivity to the surroundings with a view to make changes/remove hardships and sufferings.

Subsidiary Companies

Canfin Homes Limited

Canbank Factors Limited Canbank Venture Capital Fund Limited Canbank Computer Services Limited Gilt Securities Trading Limited Canara Robeco Asset Management Company Limited Canbank Financial Services Limited Canara HSBC Oriental Life Insurance Company Limited

Regional Rural Banks

Shreyas Gramin Bank South Malabar Gramin Bank Pragathi Gramin Bank

Development projects
Canara bank made a partnership with UNEP to initiate a successful solar loan programme. It was a four-year $7.6 million effort, launched in April 2003 to help accelerate the market for financing solar home systems in southern India.

Major IT initiative
Canara Bank had a major IT initiative to network all branches and move them to a single software platform. Canara Bank chose Flexcube from i-flex solutions as the application. The Bank entered into an agreement with IBM for rolling out flexcube to over 1000 branches as part of Phase I. This phase has just been concluded, with Karaikudi Branch in Tamil Nadu being the 1000th branch to go live. Over 22 million customers are benefitting from this initiative. In March 2009 IT Examiner published reports of major problems with the flexcube implementation.

Loction of the bank: All over India and abroad.

Vision

To emerge as a Best Practices Bank by pursuing global benchmarks in profitability, operational efficiency, asset quality, risk management and expanding the global reach.

Mission

To provide quality banking services . Augmenting low cost deposits. Thrust on retail lending. Toning up asset quality. Accent on cost control. Increasing customer satisfaction. Maximizing stakeholders value.

Services offered by Bank 1).PERSONAL BANKING Loans

Home loans Education loans Loans against property Overdrafts.

2). CORPORATE BANKING:

Accounts and deposits

Cash management services Loans and advances. Syndication services. Merchant banking services.

3). NRI BANKING:

Deposits products. Loans and advances. Remittance services Consultancy services. Other services.

4). Priority credit:

Schemes. SME business SME marketing Agri- marketing Agri consultancy Rural development.

CHAPTER 3

RESEARCH METHODOLOGY

Meaning of Research

Research is defined as a scientific & systematic search for pertinent information on a specific topic. Research is an art of scientific investigation. Research is a systemized effort to gain new knowledge. It is a careful inquiry especially through search for new facts in any branch of knowledge. The search for knowledge through objective and systematic method of finding solution to a problem is a research.

Research Methodology
Research is a systematic method of finding solutions to problems. It is essentially an investigation, a recording and an analysis of evidence for the purpose of gaining knowledge. According to Clifford woody, research comprises of defining and redefining problem, formulating hypothesis or suggested solutions, collecting, organizing and evaluating data, reaching conclusions, testing conclusions to determine whether they fit the formulated hypothesis

Objectives of the study:

This project work characterizes to evaluate job satisfaction level of employees working in various branches of Canara bank. The objectives of the study are as follows: A. To analyze banks working environment. B. To study and analyse the satisfaction level of employees at Canara Bank. C. To study various factors which influences job satisfaction of employees. D. To study the relationship between personal factors of employees (income, designation, education qualification etc.) E. To identify and suggest measures for the improvement of the satisfaction level.

AREA OF STUDY
The study was conducted in two branches of Canara Bank in Chandigarh.

SAMPLE SIZE
There were 25 respondents working in 2 branches of Canara Bank.

SOURCES OF DATA
Data was collected from both primary and secondary source.

Primary data:
The primary data was conducted through structured questionnaire and some personal interview.

Secondary data:
Secondary data was collected from books, magazines, internet, newspapers.

SCOPE OF STUDY
The scope of the study is very vital. Not only the Human Resource department can use the facts and figures of the study but also the personnel, finance and sales department can take benefits from the findings of the study.

Scope for the sales department

The sales department can have fairly good idea about their employees,that they are satisfied or

not.

LIMITATION OF STUDY
Data collected was based on questionnaire and interview method only. Total number of employees in canara bank is more but sample size is limited to 50 only. The research was conducted in limited duration only. Survey can vary from city to city. Some respondants hesitated to give actual situation , they feared that management would take action against them. The findings and conclusions can result in bias.

Statistical tools used for interpretation and analysis

PERCENTAGE ANALYSIS: It refers to special kind of ratio; percentages are used in
making comparison between two or more series of data, and used to describe the relation. Since to percentage reduced everything to a common based and thereby allows meaningful comparison to be made.

CHAPTER 4

ANALYSIS

AND

DATA INTERPRETATION

1). Age of employees in bank: Age Respondents Percentage BELOW 30 07 28% 31-45 13 52% ABOVE 45 05 20%

Below 30 30

31-45 years

Above 45 years

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.The analysis revealed that 28% of the
respondents are below the age of 30 years. 52% of the respondents are between the age group of 31 to 45 years and only 20% are above 45years.

2). Gender of employees GENDER RESPONDANT PERCENTAGE MALE 14 56% FEMALE 11 44%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The analysis revealed that 56% of the respondents working in bank are MALE and 44% FEMALES are working.

3).Marital status of employees:

MARITAL STATUS RESONDENTS PERCENTAGE

SINGLE 7 28%

MARRIED 18 72%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The analysis revealed that 28% of the respondents working in bank are SINGLE and 72 % are MARRIED.

4). Education qualification of employees

EDUCATION QUALIFICATION RESPONDENTS PERCENTAGE

GRADUATE 15 60%

POST- GRADUATE 10 40%

Source:
Questionnaire to the Employees.

Analysis:
the following. The

The

above Table shows

analysis

revealed that 60% of the employees are GRADUATE in the bank and only 40% are POST GRADUATES.

5). Different levels of jobs: Different level of job Respondents Percentage Accountant 6 24% Cashier 5 20% Clerk 10 40% Customer Manager

care executive 2 2 8% 8%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The analysis revealed that 40% of CLERKS are working in bank. Accountant are 24%, cashier are 20% , and customer care executive and manager are 8%.

6). Experience of employees at Canara bank EXPERIENCE RESPONDENTS PERCENTAGE LESS YEARS 6 24% THAN 5 6-10 YEARS 15 60% ABOVE 10 YEARS 4 16%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The above analysis reveals that mostly the employees are new to the organization and only 16% of employees have more than 10years of experience in the organization.

7). Are you satisfied with the nature of job?

Nature of job respondents percentage

1).Excellent 7 28%

2).Good 10 40%

3). Average 8 32%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The above analysis states that 28% of employees are highly satisfied with the nature of job they are doing .

8).Monthly salary of employees

Salary Respondents Percentage

Rs. 10,000- 20,0000 8 32%

Rs. 20,000- 30,000 12 48%

Above 30,000 5 20%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The above analysis states 32%of the employees are getting salary between 10,000 to 20,000. 48%are getting salaries between 20,000 to 30,000 and only 20% are getting salaries above 30,000.

9). Are the employees of the bank are satisfied with the salary?

Salary satisfaction Respondents Percentage

Agree 18 72%

Disagree 7 28%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
The above analysis states 72%of the employees are satisfied with their salaries because their salaries are secured and they get other allowances along with their salaries. But 28% of the employees are not satisfied with their present salaries because they think that more they can get more salary if they work in private sector.

10). Are you satisfied with the performance appraisal technique? Performance appraisal Agree Disagree Cant say

Respondents Percentage

18 72%

4 16%

3 12%

Source: Questionnaire to the Employees. Analysis: The above Table shows the following.
72% of employees are satisfied with the performance appraisal technique adopted by the bank. 16% dont like this appraisal of performance done by the bank.

11). Do you feels agree with the fact that employees are recognized as individuals ?

Employees recognized as individuals Respondents Percentage

Agree

Disagree

Cant say

12 48%

10 40%

3 12%

Source:

Questionnaire to the Employees.

Analysis: The above Table

shows the following. The above analysis shows that 48% of employees agrees that they are recognized as individuals. 40% of employees individuality is missing in the organization .

12). How do you view your job?

Respondents Percentage

Challenging 2 8%

Responsible 5 20%

Motivation 3 12%

Secured 15 60%

Source: Questionnaire to the Employees.

CHAPTER - 5

FINDINGS OF THE STUDY

FINDINGS:
The findings of the study are follows: The Canara Bank Chandigarh has a well defined organization structure. There is a harmonious relationship is exist in the organization between employees and management.. The employees are satisfied with the present incentive plan of the company.

A STUDY ON JOB SATISFACTION

Most of the workers working in the bank are highly experienced..

The study reveals that there is a good relationship exists among employees. All employees agreed that there job security to their present job. Majority of the employees are satisfied with their salaries. From the study it is clear that most of employees agrees to the fact that performance appraisal activities and support from the co-workers in helpful to get motivated. The incentives and other benefits will influence the performance of the employees. Most of the employees agree with the method of promotions adopted by the bank. However some employees doesnt have very good relationship with the management.. There is lack of training and development programs conducted by the bank which has become one of the major causes of job dissatisfaction. Some employees do complaint about the work given to them as it lacks flexibility. Some employees in the bank were not recognized as individuals.

But on the whole as the employees are govt. servant so they were mostly satisfied with the jobs as their job provides them security.

CHAPTER - 6

SUGGESTIONS AND CONCLUSION

SUGGESTIONS
1. Highly educated and experience people should be recruited. 2. Salary is the most important factor considered in job satisfaction. So employees should be given good salary. 3. Employees performance should be appraised from time to time so that organization can come to know about the efficiency of the organization.

4. According to their performance, they should be given incentives. 5. Work should be assigned according to the qualification of the employees. 6. Organization should try to adopt certain measures to enhance team spirit and coordination among the employees. 7. Management of the bank should be friendly with the employees.
8. Training and development programmes should be conducted from time to time so that

employees does not get bored from their job.

CONCLUSION:
It was good learning session for me during my tenure with Canara Bank.. it is a well organized bank. While doing the project,I learnt a lot about various banking operation.this study was conducted on job satisfaction among canara bank employees. Job satisfaction is a very big concept as it includes various factors associated with job satisfaction of employees. Satisfaction varies from employee to employee. Employees are given equal salaries then also some employees are satisfied with it and some are not. So at end I would like to say , that organization should try to take every possible step to enhance job satisfaction among employees because if employees are satisfied then customers associated with it will also be satisfied.

ANNEXURE

QUESTIONAIRE
1). To which age group do you belong? A. Below 30 years B. 31-45 years. C. Above 45 years.

Name :

2). Gender A. Male

B. Female.

3). Marital status A. Single

B. Married.

4). Education qualification of employees: A. Graduate B. Post graduate. 5). Different levels of jobs: A. Accountant B. Cashier C. Clerk
D. Customer care executive.

E. Manager. 6).Experience of employees at bank: A. Less than 5 years. B. 6-10 years. C. Above 30 years.

7). Nature of job:

A. Excellent B. Good
C. Average.

8). Monthly salary of employees A. Rs 10,000-20,000 B. Rs 20,000-30,000 C. Above Rs 30,000 9). Salary satisfaction: A. Agree
B. Disagree.

10). Are you satisfied with the techniques of performance appraisal adopted by the bank: A. Agree B. Disagree
C. Cant say.

11). Do you feel that employees are recognized as individuals? A. Agree B. Disagree C. Cant say

12). How do you view your job?

A. Challenging B. Responsible C. Motivating D. Secured.

BIBLIOGRAPHY

WEBSITES www.canarabank.com www. en.wikipedia.org/wiki/Job_satisfaction