Synopsis on Job Satisfaction in Banking: A Study of Private and Public Sector Banks

(Submitted in partial fulfillment of the requirement of Master of Business Administration, Punjab Technical University, Jalandhar)

SUPERVISOR: Ms.Renu Mishra

FACULTY Netaji Subhash Institute of Management and Sciences &Finance.

SUBMITTED BY: Shweta singh

Enrolment no: 9207600139 MBA (2009-11) HR

REMARKS OF EVALUATOR APPROVED/DISAPPROVED (I. Evaluation) APPROVED/DISAPPROVED (II. Evaluation)

DIRECTORATE OF DISTANCE EDUCATION PUNJAB TECHNICAL UNIVERSITY, JALANDHAR

CONTENTS

S.NO. CONTENTS 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. SIGNIFICANCE OF THE PROJECT REVIEW OF LITERATURE OBJECTIVES OF THE PROJECT COMPANY PROFILE RESEARCH METHODOLOGY INTRODUCTION TO THE TOPIC LIMITATION SUGGESSTION & RECOMMENDATION BIBLIOGRAPHY QUESTIONNAIRE

11.. CONCLUSION

SIGNIFICANCE OF THE PROJECT

The significance of choosing this project is to understand employees job satisfaction level at banks and difference in level at public and private sector banks. Through this project I will came to know that What benefits and facilities BANKING jobs providing to the employees. What conditions or requirements based on age, sex, religion, caste and ethnicity employees think should be provided by job. This helps BANKS to know Where they are lacking in having a satisfied workforce presently. How they can modify it in future?

REVIEW OF THE LITERATURE

Job Satisfaction: by Paul E. Specter

Job Satisfaction is the most frequently studied variable in organizational behavior research. This new book provides an overview of the vast literature on this topic.

www.expresscomputeronline.com
This site provides material on Non-financial rewards often have more impact than financial recognition in attaining job satisfaction, writes Achal Khanna.

Online edition of India's National Newspaper Wednesday, Nov 07, 2007 This online newspaper provides six sutras to gauge job satisfaction Job satisfaction is one of the major interests to the field of organizational behavior and the practice of HRM.

www.livesciences.com
Health Survey Reveals Most Satisfying Jobs By Jeanna Bryner, Live Science Staff Writer Posted: 17 April 2007 01:04 pm ET

This site reveals surveys on job satisfaction

OBJECTIVE OF THE PROJECT

THE MAIN OBJECTIVE OF THE PROJECT IS:TO COMPARE THE SATISFACTION LEVEL OF EMPLOYEES IN PUBLIC AND PRIVATE BANKS.

SECONDARY OBJECTIVES:-

To have a depth knowledge of the topic

To Study Effective Factors In Job Satisfaction Employees satisfaction level. Employees satisfaction from welfare schemes.

COMPANY PROFILE

PUBLIC SECTOR BANK

1. PUNJAB NATIONAL BANK
Bank has its Corporate Office at New Delhi and 26 Zonal Offices which in turn supervise 45 Regional Offices under which the branches function. The delegation of powers is decentralized up to the branch level to facilitate quick decision making. Services which are provided by this bank are: LOCKER FACILITY PNB INSTA-REMIT DEPOSITERY SCHEME ELECTRONIC FUND TRANSFER FREE ATM FACILITY

PRIVATE SECTOR BANK HDFC BANK

HDFC Bank Ltd. is the second largest private sector bank in India (after ICICI Bank). It has an asset base of Rs1, 334bn and franchise of 761 branches & 1,977 ATMs. The bank was incorporated on August, 1994. The bank has a significant exposure to non-mortgage retail credit business which constitutes 62% of its loan book as of March 2008. Target Customers: Bank is targeting a wide range of customers. Its targeted customers include Individuals, corporate, NRIs, Government, Institutions, other banks, Primary dealers, and Insurance companies.

Distribution Channels: It includes ATM & Branches, Direct selling agents and online banking. As of mar,08 bank has presence in 327 cities,761 branches and 1977 ATMs across country. Core Capabilities: HDFC bank has fully integrated centralized banking. It has strengths in both retail and wholesale banking and is committed to adopting the best industry practices internationally. The bank has a wide base of branches and ATMs all over the country. The bank has provided its customers the most comprehensive range of accounts and services such as net banking, payment of utility bills, 24 hour phone banking, loan against shares, car loans, personal loans, ATM network, HDFC bank and international debit card and mobile banking among others.

RESEARCH METHODOLOGY
RESEARCH TITLE : job satisfaction (PUBLIC vs. PRIVATE BANKS). RESEARCH PROBLEM : Employees are going to switchover from their frequent jobs very frequently, the reason may be dissatisfaction from the job, so job satisfaction level must know. RESEARCH OBJECTIVES : To study Effective factors in job satisfaction. Employees satisfaction level. Employees satisfaction from designations. Employees satisfaction from welfare schemes. RESEARCH DESIGN

STUDY DESIGN

: The study conducted would be mainly descriptive

and analytical. It is mainly to comparative analysis of job satisfaction among public and private bank employees.

DATA SOURCES:PRIMARY DATA SOURCE SECONDARY DATA SOURCE

: 1-5 LIKERT SCALE questionnaires : Books, internet

SAMPLE DESIGN:Universe size : finite (employees working in banks under study) Sample size : 30(15 EMPLOYEES AT EACH BANK UNDER STUDY) Sample unit : 1

INTRODUCTION OF THE TOPIC:JOB SATISFACTION:- Job satisfaction is in regard to one's feelings or state-of-mind regarding the nature of their work. Job satisfaction can be influenced by a variety of factors, eg, the quality of one's relationship with their supervisor, the quality of the physical environment in which they work, degree of fulfillment in their work, etc. Satisfied employees have a favorable evaluation of their job, based on their observations and emotional experiences. Job satisfaction is a feeling which is a function of the perceived relationship between all that one wants from his job/life and all that one perceives as offering or entailing. The emphasis here is on all that one wants, whether it is important for self-definition or not. Job satisfaction is a pleasurable, or positive emotional state resulting from the appraisal of one's job, or job experience, and is the result of the employee's perception of how well the job provides those things which are viewed as important. Job satisfaction is a collection of attitudes about specific facets of the job. Employees can be satisfied with some elements of the job while being simultaneously dissatisfied with others. Different types of satisfaction will lead to different intentions and behavior. An employee might complain to the supervisor when dissatisfied with low pay but not with coworker dissatisfaction. Overall job satisfaction is a combination of the person's feeling towards the different facets of job satisfaction. He argues that the more important factors conducive to job satisfaction are mentally challenging work, equitable rewards, supportive working conditions, and supportive colleagues. One can also add the importance of good personality--job fit and an individual's genetic disposition (some people are just inherently upbeat and positive about all things including their job).

LIMITATIONS OF THE STUDY:1. Sample may not represent the true population 2. Satisfaction level to various factors may differ from person to person. 3. Study may be obsolete because of changing environment and needs. 4. Employees may not willing to co-operate .

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SUGGESTIONS AND RECOMMENDATIONS

FOR PUBLIC BANKS
Though The Employees of Public Banks are much more satisfied than private bank employees but there are always chances of improvement. Public banks can take steps to keep its employees more satisfy as follows: Recognition for work accomplished by employees is less in public banks, so banks can provide recognition by giving rewards on timely basis, by praising employees in meetings, by sending letters of good worker to their homes. Public banks can provide opportunity to learn new skills with the help of training and education programs weekly for 2-4 hours.

FOR PRIVATE BANKS

Most important cause of dissatisfaction in private employees is of job security. So, private banks must provide an element of security to employees. Banks can provide security in terms of conditions that until employee will fulfill these conditions; his/her job will remain secure. Other important cause of dissatisfaction among private employees is their relationship with supervisors. Supervisors must have a fair relationship with their employees to keep them satisfied.

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QUESTIONNAIRE

PART I
GENERAL INFORMATION Occupation: _____________________________________________________________ What is your job profile? _____________________________________________________ How long have you held your current position? _________________________________

PART II
RATING YOUR JOB SATISFACTION 1 2 3 4 5 not satisfied dissatisfied Neutral satisfied extremely at all satisfied Using the scale shown above, rate your level of satisfaction with the following aspects of your job.

GENERAL WORKING CONDITIONS

_____ Hours worked each week

_____ Flexibility in scheduling _____ Location of work _____ Amount of paid vacation time/sick leave offered PAY AND PROMOTION POTENTIAL _____ Salary _____ Opportunities for Promotion _____ Benefits (Health insurance, life insurance, etc.) _____ Job Security _____ Recognition for work accomplished WORK RELATIONSHIPS _____ Relationships with your co-workers _____ Relationship(s) with your supervisor(s) _____ Relationships with your subordinates (if applicable)

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USE OF SKILLS AND ABILITIES _____ Opportunity to utilize your skills and talents _____ Opportunity to learn new skills _____ Support for additional training and education WORK ACTIVITIES _____ Variety of job responsibilities _____ Degree of independence associated with your work roles _____ Adequate opportunity for periodic changes in duties SATISFACTION WITH BENEFITS The company provides you with the type of benefits you need. The company provides the type of benefits your family needs. The company provides benefits that compare favorably with other companies in the industry. EMPOWERMENT Requests input on decisions affecting me. Let me do my job without interfering. Gives me the authority I need to do my job. DIRECTION AND FEEDBACK Lets me know what is expected of me. Keeps me informed of things I need to know Gives me appropriate recognition of my performance Gives me clear direction on work assignments Gives me clear, effective and timely feedback on my performance

LEADERSHIP Our company is a leader in the industry. Our company is a strong competitor in key growth areas. Our company's leadership has a clear vision of the future. Our company's leadership has made changes which are positive for the company..

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CONCLUSION
The result of the study indicates that layoff threats, quick turnover, less welfare schemes, and less scope for vertical growth increase job dissatisfaction. On the other hand, secure job environment, welfare policies, and job stability increase the degree of job satisfaction. Efficient human resource management and maintaining higher job satisfaction level in banks determine not only the performance of the bank but also affect the growth and performance of the entire economy. So, for the success of banking, it is very important to manage human resource effectively and to find whether its employees are satisfied or not. Only if they are satisfied, they will work with commitment and project a positive image of the organization

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BIBLIOGRAPHY:BOOKS :PAULE.SPECTER; JOB SATISFACTION V.S.P. RAO ; HR MANAGEMENT

WEBSITES:"http://en.wikipedia.org/wiki/Job_satisfaction" www.expresscomputeronline.com www.newsarama.com

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