PROJECT TITLE

"A STUDY OF EMPLOYEE SATISFACTION”

OF

HDFC BANK

A project report on

Prepared by :

Varun Bawa

1

Acknowledgements

If words are considered to be signs of gratitude then let these words

Convey the very same My sincere gratitude to HDFC BANK for

providing me with an opportunity to work with BANK and giving

necessary directions on doing this project to the best of my abilities.

I am grateful to all faculty members of my family and my

friends who have helped me in the successful completion of this

project.

2

CONTENTS

Sr. No. Subject Covered Page No.

1 Banking Structure in India 6-7

2 Indian Banking Industries 8-9

3 Upcoming Foreign Bank in India 10

4 HDFC BANK 11-12

5 Company Profile 13-15

6 Technology used 16-19

7 Product and Customer segments 20-23

8 Business Strategy 24-25

9 Inside Hdfc Bank 26-31

10 Rupee Earned – Rupee Spent 32-33

11 Recent Development 34-41

12 SWOT Analysis 42-48

3

BANKING STRUCTURE IN INDIA

Scheduled Banks in India

(A) Scheduled Commercial Banks

Public sector Banks

Private sector Banks

Foreign Banks in

India

Regional Rural Bank

(28) (27) (29) (102) Nationalized

Bank Other Public

Sector Banks (IDBI) SBI and its

Associates

Old Private Banks

New Private Banks

(B) Scheduled Cooperative Banks

Scheduled Urban Cooperative Banks (55)

Scheduled State Cooperative Banks (31)

4

Here we more concerned about private sector banks and competition

among them. Today, there are 27 private sector banks in the banking sector: 19 old private sector banks and 8 new private sector banks.

These new banks have brought in state-of-the-art technology and

Aggressively marketed their products. The Public sector banks are

Facing a stiff competition from the new private sector banks.

The banks which have been setup in the 1990s under the guidelines

of the Narasimham Committee are referred to as NEW PRIVATE

SECTOR BANKS.

New Private Sector Banks

Superior Financial Services

Designed Innovative Products

Tapped new markets

Accessed Low cost NRI funds

Greater efficiency

INDIAN BANKING INDUSTRIES

5

The Indian banking market is growing at an astonishing rate, with

Assets expected to reach US$1 trillion by 2010. An expanding

economy, middle class, and technological innovations are all

contributing to this growth.

The country’s middle class accounts for over 320 million people.

In correlation with the growth of the economy, rising income levels,

increased standard of living, and affordability of banking products

are promising factors for continued expansion.

The Indian banking Industry is in the middle of an IT revolution,

6

Focusing on the expansion of retail and rural banking.

Players are becoming increasingly customer - centric in their

approach, which has resulted in innovative methods of offering new

banking products and services. Banks are now realizing the

importance of being a big player and are beginning to focus their

attention on mergers and acquisitions to take advantage of

economies of scale and/or comply with Basel II regulation.

“Indian banking industry assets are expected to reach US$1 trillion by

2010 and are poised to receive a greater infusion of foreign capital,”

says Prathima Rajan, analyst in Celent's banking group and author of

the report. “The banking industry should focus on having a small

number of large players that can compete globally rather than having

a large number of fragmented players."

UPCOMING FOREIGN BANKS IN INDIA

By 2009 few more names is going to be added in the list of foreign

banks in India. This is as an aftermath of the sudden interest shown

by Reserve Bank of India paving roadmap for foreign banks in India

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greater freedom in India. Among them is the world's best private bank

by EuroMoney magazine, Switzerland's UBS.

The following are the list of foreign banks going to set

up business in India :-

Royal Bank of Scotland

Switzerland's UBS US-based GE Capital

Credit Suisse Group

Industrial and Commercial Bank of China

WE UNDERSTAND YOUR WORLD

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

8

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. HDFC Bank

commenced operations as a Scheduled Commercial Bank in January

1995.

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

reputation, large shareholder base and unique consumer franchise,

HDFC was ideally positioned to promote a bank in the Indian

environment.

HDFC Bank began operations in 1995 with a simple mission : to be a

9

“ World Class Indian Bank.” We realized that only a single minded

focus on product quality and service excellence would help us get

there. Today, we are proud to say that we are well on our way

towards that goal.

COMPANY PROFILE

10

STRONG NATIONAL NETWORK

HDFC

BANK

HDFC bank ltd provides various financial products and services. It operates

In three segments: Retail Banking, Wholesale Banking, and Treasury. The

Retail banking segment provides various deposit products, including savings

Accounts, current accounts, fixed deposits, and demat accounts. It also offers

11

Auto, personal, commercial vehicle, home, gold, and educational loans; loans

Against securities, property, and rental receivables; and health care finance

Working capital finance, construction equipment finance, and warehouse

Receipt loans, as well as credit cards, debit cards, depository, investment

Advisory, bill payments, and transactional services. In addition, this segment

Sells third party financial products, such as mutual funds and insurance, as

Well as distributes life and general insurance products through its tie-ups

With insurance companies and mutual fund houses. The wholesale banking

Segment provides loans, non-fund facilities, and transaction services to large

Corporate, emerging corporate, small and medium enterprise, supply chain,

Public sector undertaking, central and state government departments, and

Institutional customers. It offers deposit and transaction banking products,

Supply chain financing, working capital and term finance, agricultural loans,

And funded non-funded treasury, and foreign exchange products.

This segment’s services include trade services, cash management, and money

Market, custodial, tax collection, and electronic banking. In addition, it

Provides correspondent bank services to co-operative banks, private banks,

Foreign banks, and regional rural banks; and wealth management products

For non-resident Indians. The Treasury Services segment operates primarily

12

In areas, such as foreign exchange, money market, interest rate trading, and

Equities. As of March 31, 2009 HDFC bank had a network of 1,142 branches

And 3,295 automated teller machines in 528 cities in India . The company

was founded in 1994 and is based in Mumbai , India .

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 CommitteeMr. Harish Engineer, 60Head of Wholesale Banking, Exec. Director and Member of Customer Service CommitteeMr. Paresh Sukthankar, 46Head of Credit, Market Risk & Investor Relations, Exec. Director and Member of Risk Monitoring CommitteeMr. Deepak S. Parikh, 64Exec. ChairmanMr. Debajeet Das , VP, Treasury

March 2006 March 2007 March 2008

13

Citied 228 316 327

Branches 535 684 761

ATMs 1323 1605 1977

As of March 31, 2008, the Bank’s distribution network was at 761

Branches and 1977 ATMs in 327 cities as against 684 branches

and 1,605 ATMs in 320 cities as of March 31, 2007.

Against the regulatory approvals for new branches in hand, the

Bank expects to further expand the branch network by around 150

branches by June 30, 2008. During the year, the Bank stepped up

retail customer acquisition with deposit accounts increasing from

6.2 million to 8.7 million and total cards issued (debit and credit

cards) increasing from 7 million to 9.2 million.

Whilst credit growth in the banking system slowed down to about

22% for the year ended 2007-08, the Bank’s net advances grew

by 35.1% with retail advances growing by 38.6% and wholesale

advances growing by 30%, implying a higher market share in both

segments.

The transactional banking business also registered healthy growth

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With cash management volumes increased by around 80% and

trade services volumes by around 40% over the previous year.

Portfolio quality as of March 31, 2008 remained healthy with gross

nonperforming assets at 1.3% and net non-performing assets at

0.4% of total customer assets. The Bank’s provisioning policies for

specific loan loss provisions remained higher than regulatory

requirements.

TECHNOLOGY USED IN HDFC BANK

In the era of globalization each and every sector faced the stiff

competition from their rivals. And world also converted into the flat

from the globe. After the policy of liberalization and RBI initiatives to

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take the step for the private sector banks, more and more changes

are taking the part into it. And there are create competition between

the private sector banks and public sector bank.

Private sector banks are today used the latest technology for the

different transaction of day to day banking life. As we know that

Information Technology plays the vital role in the each and every

industries and gives the optimum return from the limited resources.

Banks are service industries and today IT gives the innovative

Technology application to Banking industries. HDFC BANK is the

leader in the industries and today IT and HDFC BANK together

combined they reached the sky. New technology changed the mind of

the customers and changed the queue concept from the history

banking transaction. Today there are different channels are available

for the banking transactions.

We can see that the how technology gives the best results in the

below diagram. There are drastically changes seen in the use of

Internet banking, in a year 2001 (2%) and in the year 2008 ( 25%).

These type of technology gives the freedom to retail customers.

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Centralized Processing Units Derived Economies of Scale

Electronic Straight Through Processing

Reduced Transaction Cost

Data Warehousing , CRM Improve cost efficiency, Cross sell

Innovative Technology Application

Provide new or superior products

HDFC BANK is the very consistent player in the New private sector

banks. New private sector banks to withstand the competition from

public sector banks came up with innovative products and superior

service.

2001

17

2005

( % customer initiated Transaction by Channel )

18

HDFC BANK PRODUCT AND CUSTOMER SEGMENTS

PERSONAL BANKING

Loan Product Deposit Product Investment & Insurance

Auto Loan Loan Against

Security Loan Against

Property Personal loan Credit card 2-wheeler loan Commercial

vehicles finance Home loans Retail business

banking Tractor loan Working Capital

Finance Construction

Equipment Finance Health Care

Finance Education Loan Gold Loan

Saving a/c Current a/c Fixed deposit Demat a/c Safe Deposit

Lockers

Mutual Fund Bonds Knowledge Centre Insurance General and Health

Insurance Equity and

Derivatives Mudra Gold Bar

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Cards Payment Services Access To Bank

Credit Card Debit Card Prepaid Card

-------------------------------- Forex Services--------------------------------

Product & Services Trade Services Forex service

Branch Locater RBI Guidelines

NetSafe Merchant Prepaid Refill Billpay Visa Billpay InstaPay DirectPay VisaMoney

Transfer e–Monies

Electronic Funds Transfer

Online Payment of Direct Tax

NetBanking OneView InstaAlertMobileBanking ATM Phone Banking Email Statements Branch Network

WHOLESALE BANKING

Corporate Small and Medium Financial Institutions

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Enterprises and Trusts

Funded Services

Non Funded Services

Value Added Services

Internet Banking

Funded Services Non Funded

Services Specialized

Services Value added

services Internet Banking

BANKS Clearing Sub-

Membership RTGS –

submembership Fund Transfer ATM Tie-ups Corporate Salary a/c Tax CollectionFinancial Institutions

Mutual Funds

Stock Brokers

Insurance Companies

Commodities Business

Trusts

BUSINESS MIX

21

Total Deposits Gross Advances Net Revenue

Retail Wholesale

HDFC Bank is a consistent player in the private sector

bank and have a well balanced product and business

mix in the Indian as well as overseas markets.

Customer segments (retail & wholesale) account for

84% of Net revenues ( FY 2008)

Higher retail revenues partly offset by higher operating

and credit costs.

Equally well positioned to grow both segments.

.

NRI SERVICES

Accounts & Deposits Remittances

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Rupee Saving a/c Rupee Current a/c Rupee Fixed Deposits Foreign Currency Deposits Accounts for Returning

Indians

North America UK Europe South East Asia Middle East Africa Others

Quick remitIndiaLink

Cheque LockBoxTelegraphic/ Wire Transfer

Funds Transfer Cheques/DDs/TCs

Investment & Insurances Loans

Mutual Funds Insurance Private Banking Portfolio Investment

Scheme

Home Loans Loans Against Securities Loans Against Deposits Gold Credit Card

Payment Services Access To Bank

NetSafe BillPay InstaPay DirectPay Visa Money Online Donation

NetBanking OneView InstaAlert ATM PhoneBanking Email Statements Branch Network

BUSINESS STRETEGY

23

HDFC BANK mission is to be "a World Class Indian Bank",

benchmarking themselves against international standards and best

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

risk management and audit & compliance. The objective is to build

sound customer franchises across distinct businesses so as to be a

preferred provider of banking services for target retail and wholesale

customer segments, and to achieve a healthy growth in profitability,

consistent with the Bank's risk appetite. Bank is committed to do this

while ensuring the highest levels of ethical standards, professional

integrity, corporate governance and regulatory compliance. Continue

to develop new product and technology is the main business strategy

of the bank. Maintain good relation with the customers is the main

and prime objective of the bank.

HDFC BANK business strategy emphasizes the following :

Increase market share in India’s expanding banking and

financial services industry by following a disciplined growth

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strategy focusing on quality and not on quantity and delivering

high quality customer service.

Leverage our technology platform and open scaleable systems

to deliver more products to more customers and to control

operating costs.

Maintain current high standards for asset quality through

disciplined credit risk management.

Develop innovative products and services that attract the

targeted customers and address inefficiencies in the Indian

financial sector.

Continue to develop products and services that reduce bank’s

cost of funds.

Focus on high earnings growth with low volatility.

INSIDE HDFC BANK

25

FIVE “S” , PART OF KAIZEN

WORK PLACE TRANSFORMATION

Focus on effective work place organization

Believe in

“ Small changes lead to large improvement ”

Every successful organization have their own strategy to win the

race in the competitive market. They use some technique and

methodology for smooth running of business. HDFC BANK also

aquired the Japanese technique for smooth running of work and

effective work place organization.

Five ‘S’ Part of Kaizen is the technique which is used in the bank

For easy and systematic work place and eliminating unnecessary

things from the work place.

BENEFIT OF FIVE “S”

It can be started immediately. Every one has to participate. Five “ S” is an entirely people driven initiatives. Brings in concept of ownership.

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All wastage are made visible.

FIVE ‘S’ Means :-

S-1 SORT SEIRIS-2 SYSTEMATIZE SEITONS-3 SPIC-N-SPAN SEIROS-4 STANDARDIZE SEIKETSUS-5 SUSTAIN SHITSUKE

(1) SORT :-

It focus on eliminating unnecessary items from the work place.

It is excellent way to free up valuable floor space.

It segregate items as per “require and wanted”.

(2) SYSTEMATIZE :-

Systematize is focus on efficient and effective Storage method.

That means it identify, organize and arrange retrieval.

It largely focus on good labeling and identification practices.

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Frequently Required

Less FrequentlyRequiredRemove

everything from workplace

Junk

Wanted but not Required Junk

Objective :- “A place for everything and everything in its place”.

(3) SPIC- n - SPAN :-

Spic-n-Span focuses on regular clearing and self

inspection. It brings in the sense of ownership.

(4) STANDERDIZE :-

It focus on simplification and standardization. It involve standard

rules and policies. It establish checklist to facilitates autonomous

maintenance of workplace. It assign responsibility for doing

various jobs and decide on Five S frequency.

(5) SUSTAIN:-

It focuses on defining a new status and standard of organized work place. Sustain means regular training to maintain

standards developed under S-4. It brings in self- discipline and commitment towards workplace organization.

LABELLING ON FILE

28

FILE NUMBER

SUBJECT

FROM DATE

TO DATE

OWNER

BOX LABEL

For Example

1 / 3 / A / 6

1 – Work Station (1)3 – Drawer (3)A - Shelf (A)6 – File Number ( 6)

COLOUR CODING OF FILES

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DEPARTMENT

Welcome Desk

Personal Banker

Teller

Relationship Manager

Branch Manager

Demat

Others

In the HDFC BANK each department has their different color coding

apply on the different file. Due to this everyone aware about their

particular color file which is coding on it and they save their valuable

time. It is a part of Kaizen and also included in the system of the Five

‘S’. Logic behind it that , the color coding are always differentiate the

things from the similar one.

HUMAN RESOURCES

30

The Bank’s staffing needs continued to increase during the year

particularly in the retail banking businesses in line with the business

growth. Total number of employees increased from 14878 as of

March31,2006 to 21477 as of March 31, 2007. The Bank continues to

focus on training its employees on a continuing basis, both on the job

and through training programs conducted by internal and external

faculty.

The Bank has consistently believed that broader employee ownership

of its shares has a positive impact on its performance and employee

motivation. The Bank’s employee stock option scheme so far covers

around 9000 employees.

31

RUPEE EARNED - RUPEE SPENT

It is more important for every organization to know about from where

and where to spent money. And balanced between these two things

rupee earned and rupee spent are required for smooth running of

business and financial soundness. This type of watch can control

and eliminate the unnecessary spending of business. In this diagram

it include both things from where Bank earned Rupee and where to

spent.

32

HDFC BANK earned from the ‘Interest from Advances’ 51.14 % ,

‘Interest from Investment’ 27.12 %, bank earned commission

exchange and brokerage of 15.25 %. These are the major earning

sources of the bank. Bank also earned from the Forex and

Derivatives and some other Interest Income.

Bank spent 39.75 % on Interest Expense, 30.27 % on Operating

Expense and 14.58 % on Provision. Bank also spent Dividend and

Tax on dividend, Loss on Investment , Tax.

As we discuss above that balancing is must between these two for

every organization especially in the era of globalization where there

are stiff competition among various market players.

RECENT DEVELOPMENT

33

The Reserve Bank of India has approved the scheme of

amalgamation of Centurion Bank of Punjab Ltd. with HDFC Bank

Ltd. with effect from May 23, 2008.

All the branches of Centurion Bank of Punjab will function as

branches of HDFC Bank with effect from May 23, 2008. With RBI’s

approval, all requisite statutory and regulatory approvals for the

merger have been obtained.

The combined entity would have a nationwide network of 1167

branches; a strong deposit base of around Rs.1,22,000 crores and

34

net advances of around Rs.89,000 crores. The balance sheet size of

the combined entity would be over Rs.1,63,000 crores.

Merger with Centurion Bank of Punjab Limited

On March 27, 2008, the shareholders of the Bank accorded their

consent to a scheme of amalgamation of Centurion Bank of Punjab

Limited with HDFC Bank Limited. The shareholders of the Bank

approved the issuance of one equity share of Rs.10/- each of HDFC

Bank Limited for every 29 equity shares of Re. 1/- each held in

Centurion Bank of Punjab Limited. This is subject to receipt of Approvals from the Reserve Bank of India, stock exchanges and

Other requisite statutory and regulatory authorities. The shareholders

Also accorded their consent to issue equity shares and/or warrants

convertible into equity shares at the rate of Rs.1,530.13 each to

HDFC Limited and/or other promoter group companies on preferential basis, subject to final regulatory approvals in this regard. The

Shareholders of the Bank have also approved an increase in the

authorized capital from Rs.450 crores to Rs.550 crores.

35

Promoted in 1995 by Housing Development Finance Corporation

(HDFC), India's leading housing finance company, HDFC Bank is one

of India's premier banks providing a wide range of financial products

and services to its over 11 million customers across hundreds of

Indian cities using multiple distribution channels including a pan-India

network of branches, ATMs, phone banking, net banking and mobile

banking. Within a relatively short span of time, the bank has emerged

as a leading player in retail banking, wholesale banking, and treasury

operations, its three principal business segments.

The bank's competitive strength clearly lies in the use of technology

and the ability to deliver world-class service with rapid response time.

Over the last 13 years, the bank has successfully gained market

share in its target customer franchises while maintaining healthy

profitability and asset quality.

As on March 31, 2008, the Bank had a network of 761 branches and

1,977 ATMs in 327 cities. For the year ended March 31, 2008, the

36

Bank reported a net profit of INR 15.90 billion (Rs.1590.2crore),

up 39.3%, over the corresponding year ended March 31, 2007.

As of March 31, 2008 total deposits were INR 1007.69 billion,

(Rs.100,769 crore) up 47.5% over the corresponding year ended

March 31, 2007. Total balance sheet size too grew by 46.0% to INR

1,331.77 billion (133177 crore). Leading Indian and international

Publications have recognized the bank for its performance and

quality.

Centurion Bank of Punjab is one of the leading new generation

private sector banks in India. The bank serves individual consumers, small and medium businesses and large corporations with a full

range of financial products and services for investing, lending and

advice on financial planning. The bank offers its customers an array

of wealth management products such as mutual funds, life and

general insurance and has established a leadership 'position'.

37

The bank is also a strong player in foreign exchange services,

personal loans, mortgages and agricultural loans.

Additionally the bank offers a full suite of NRI banking products to

Overseas Indians. On 29th August 2007, Centurion Bank of Punjab

merged with Lord Krishna Bank (LKB), post obtaining all requisite

statutory and regulatory approvals. This merger has further

strengthened the geographical reach of the Bank in major towns and

cities across the country, especially in the State of Kerala, in addition

to its existing dominance in the northern part of the country.

Centurion Bank of Punjab now operates on a strong nationwide

franchise of 404 branches and 452 ATMs in 190 locations across the

country, supported by employee base of over 7,500 employees.

In addition to being listed on the major Indian stock exchanges,

the Bank’s shares are also listed on the Luxembourg Stock

Exchange.

38

ACHIEVEMENT IN 2007

Business Today-Monitor Group survey

One of India's "Most Innovative Companies"

Financial Express-Ernst & Young Award

Best Bank Award in the Private Sector category

Global HR 'Employer Brand of the Year 2007 -2008'

39

Excellence Awards - Asia Pacific HRM Congress:

Award - First Runner up, & many more

Business Today 'Best Bank' Award

Dun & Bradstreet – American Express Corporate Best Bank Award 2007

'Corporate Best Bank' Award

The Bombay Stock Exchange and Nasscom Foundation's Business for Social Responsibility Awards 2007

'Best Corporate Social Responsibility Practice' Award

Outlook Money & NDTV Profit

Best Bank Award in the Private sector category.

The Asian Banker Excellence in Retail Financial Services Awards

Best Retail Bank in India

Asian Banker HDFC BANK Managing Director Aditya Puri wins the Leadership Achievement Award for India

40

SWOT ANALYSIS

STRENGTH

Right strategy for the

right products.

Superior customer

service vs. competitors.

WEAKNESSES

Some gaps in range for

certain sectors.

Customer service staff need

training.

41

Great Brand Image

Products have required

accreditations.

High degree of customer

satisfaction.

Good place to work

Lower response time

with efficient and

effective service.

Dedicated workforce aiming at making a long-term career in

the field.

Processes and systems, etc

Management cover

insufficient.

Sectoral growth is constrained by low unemployment levels and competition for staff

42

Opportunities

Profit margins will be good.

Could extend to overseas

broadly.

New specialist applications.

Could seek better customer

deals.

Fast-track career

development opportunities

on an industry-wide basis.

An applied research centre to create opportunities for developing techniques to provide added-value services.

Threats

Legislation could impact.

Great risk involved

Very high competition

prevailing in the industry.

Vulnerable to reactive

attack by major competitors

Lack of infrastructure in

rural areas could constrain

investment.

High volume/low cost market is intensely competitive.

43

INTRODUCTION OF THE STUDY

Satisfaction is an important goal for organizations to reach as it has been shown that

profitability, productivity, employee retention, and customer satisfaction are linked to

employee satisfaction.

JOB SATISFACTION

The term Job satisfaction refers to an individual's general attitude towards his or her job.

A person with a high level of job satisfaction holds positive attitude towards the job,

while a person who is dissatisfied with his or her job holds negative attitude about the

job.

In simple words job satisfaction is:-

Job Satisfaction describes how content an individual is with his or her job. There are a

variety of factors that can influence a person's level of Job satisfaction; some of these

factors are:-

• Include the level of pay and benefits,

• The perceived fairness of the promotion system within a company,

• The level of pay and benefits,

• Leadership and social relationships,

• The job itself.

Why to study about employee satisfaction?

44

In my point of view, study of "Employee satisfaction" helps the company to maintain a

standards & increase productivity by motivating the employees. this study tells us how

much the employees are capable & their interest at wok place? what are the things still to

be satisfy to the employees. although "human resource" are the most important resources

for any organization, so to study on employees satisfaction helps to know the working

conditions & what are the things that affects them not to work properly. always majority

of done by the machines/equipments but without any manual moments nothing can be

done. so to study on employee satisfaction is necessary.

THE STATE OF EMPLOYEE SATISFACTION

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.

On the revenue side of the balance sheet, loyal and committed employees are more likely

to go "above and beyond" to meet customer needs and are highly motivated to work to

45

the best of their ability. Both of these traits are crucial for continued customer

commitment and ongoing revenue and growth for the company.

On the cost side, loyal employees stay longer, resist competitive job offers, do not

actively look for other employment and recommend the company to others as a good

place to work. These four behaviors positively influence the cost side of the balance sheet

because they are leading indicators of employee retention. The longer companies keep

their employees, the longer they can avoid having to pay to replace them.

In other words, rather than focusing only on retention (that is, trying to retain employees

who have already decided to leave), organizations should proactively recognize the

benefits of understanding, managing and improving employee loyalty. The most

successful organizations are those that can adapt their organizational behavior to the

realities of the current work environment where success is dependent upon innovation,

creativity and flexibility. Additionally, the dynamics of the work environment have to

reflect a very diverse population comprised of individuals whose motivations, beliefs and

value structures differ vastly from the past and from each another. Arguably, the most

valuable, but also volatile, corporate asset is a stable workforce of competent, dedicated

employees, since such an employee base gives companies a powerful advantage; depth of

knowledge and organizational strength.

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

Wide-ranging employee participation in the organization as a whole

46

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

effectively used and challenged. Specifically, employees who enjoy their work, identify

themselves with their employer and perceive that the company is flexible regarding work

and family issues also intend to stay with the organization.

Today, employee loyalty needs to be earned, rather than assumed, and must be specific,

rather than general - employees are looking at their employment as a means of achieving

personal goals rather than simply being the "good corporate soldier" of the past. This

means that companies need to express and act on a commitment to develop employees'

career objectives by introducing initiatives that make employees believe that their current

job is the best path to achieving their career goals.

In particular, consider the following elements of effective strategies designed to build

loyalty and retain key employees:

Include opportunities for personal growth and invest heavily in the professional

development of the best people in the organization.

Provide employees with well-defined career paths (including a succession plan),

mentors and tuition reimbursement for job-related education.

Train employees, even if it makes them more attractive to the competition.

Without seeing an opportunity on the horizon, few high potential employees will

stay with a company and allow themselves to grow stagnant.

Acknowledge non-work priorities by recognizing and responding to employees'

needs for greater balance in their lives, since employees will develop loyalty for

organizations that respect them as individuals, not just as workers.

47

OBJECTIVES OF THE STUDY

1. To check the level of employee satisfaction among job work assignees.

2. To analyze the work related stress.

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

4. To find motivational factors of employees.

5. To find out how much employees are participation in dicision-making.

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

48

Another approach to the issue of loyalty is to consider the value of the five "I's":

Interesting work. No one wants to do the same boring job over and over, day after day.

Although any job will require some repetitive tasks, all jobs should include at least some

parts that are of high interest to employees.

Information. Information is power and employees want to have the information they

need to know to do their jobs better and more effectively. And, more than ever,

employees want to know how they are doing in their jobs and how the company is

performing overall. It is vitally important to open the channels of communication in an

organization to allow employees to be informed, ask questions, and share information and

to inspire them to share the vision of the company.

Involvement. Managers today are faced with an incredible number of opportunities and

problems and, as the speed of business continues to increase, the amount of time that they

have to make decisions continues to decrease. Involving employees in decision-making,

especially when the decisions affect them directly, is both respectful and practical. Not

only do those closest to the problem typically have the best insight as to what to do,

involving them in decision-making will increase their commitment and improve the

success of implementing new ideas or change. Similarly, management needs to follow

through on promises and live the values they preach.

Independence. Few employees want their every action to be closely monitored. Most

employees appreciate having the flexibility to do their jobs as they see fit. Giving

employees latitude increases the chance that they will perform as desired, as well as

bringing additional initiative, ideas, and energy to their jobs. Employees also need to be

encouraged to achieve their best potential.

49

THEORIES OF EMPLOYEE SATISFACTION ARE:

 

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

one’s 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 person’s job satisfaction depends upon his

perceived equity as determined by his input- output balance in comparison with the input-

output 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 of the

effects of community features on job satisfaction revealed that workers living in a well to

a neighbourhood felt less satisfied than those living in poor neighbourhood.    

50

3)   TWO FACTOR THEORY:

        Frederick Herzberg and his colleagues developed the Two factor theory satisfaction.

According to this theory satisfaction and dissatisfaction are interdependent of each other

and exist on a separate continuum.  One set of factors known as hygiene factors

(Company policy, administration, supervision, pay, working conditions and interpersonal

relations) act as dissatisfiers. Their absence cause dissatisfaction but their present does

not result in positive satisfaction. The other set of factors known as satisfiers

(achievements, advancement, recognition, work itself and responsibility) lead to

satisfaction.

        Several studies designed to test the two factor theory provide little support to this

theory. The same factor may serve as a satisfier for one but a dissatisfier 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 satisfaction depends upon what a person actually receives

from his job and what he expects to receive. When the reward actually received are less

than the expected rewards it causes dissatisfaction. In the words of Locke, “Job

Satisfaction and dissatisfaction are function of perceived relationship between what one

wants from one’s job and what one perceive it is actually offering. In other words,

satisfaction is the difference between what one actually received and what he feels he

should receive. This theory fails to reveal whether over-satisfaction is or is not a

dimension of dissatisfaction and if so , how does it dissatisfaction arising out of the

situation when received outcomes are less than the outcomes one feels he should

receive.                    

51

5) EQUITY DISCREPANCY THEORY:

    This is a combination of equity and discrepancy theories. Lawlers hs adopted the

difference approach of discrepancy theory rather than the ratio approach of equity theory.

From equity theory the concept of comparision has been selected to serve as an

intervening variable. Under this theory satisfaction is defined as the difference between

the outcomes that one perceives he actually received and outcomes that one feels he

should receives in comparision with others. when the individual feels that what he

actually received is equal  what he perceives he should receive there is satisfaction. Thus

an individual’s reception of his reward is influenced by more than just the objective

amount of that factor. Because of this psychological influence the same amount of reward

aften can be seen quite differently by two people, to one it can be a  large amount , while

to another person it can be a small amount. 

6) SOCIAL REFERENCE GROUP THEORY:

Reference group defines the way an individual looks at the world. According to this

theory job satisfaction occurs when the job meet the interest , desires and requirements of

a person’s reference group. In other words, job satisfaction  is a function of the degree to

which the job meets the approval of the group to which the individual looks for guidance

in evaluating the world and defining social reality.

 The social reference group theory is similar to the need fulfillment theory except than it

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.

52

Sectorial Comparison of Factors Influencing Job Satisfaction

in Indian Banking Sector

It has been observed that degree of job satisfaction of private sector banks was found to

be significantly lower than in public sector banks. At least two reasons were found to be

responsible for the low job satisfaction level of employees of private sector banks. When

data were analysed, surprising results were found. In the study, job satisfaction was

measured by a tool developed by Sinha (1990). Job satisfaction was measured on the

basis of five variables. These are (i) pay, (ii) work condition (for example, safety, heat,

noise, and dust), (iii) service conditions (for example, security, promotion, and welfare),

(iv) relation with superiors, peers, and workers, and (v) company as a whole. Among four

variables, the degree of difference is not noticeable. But low scores of the third variable,

service conditions, were found to be responsible for overall low degree job satisfaction in

private sector banks.

Employees of private sector banks perceive that their jobs are not secure. In fact, the

effect of an open economy, globalisation, and privatisation can be seen more easily in

private sector banks than in public sector banks. In private sector banks, the environment

in highly competitive and job security is based on performance and various other factors.

Though it is true that this environment provides a challenging job profile, it also creates a

less secure environment. Industriousness, dedication, devotion, and commitment are not

enough to secure a job. The high level of performance of an individual is also based on

various factors. These may be market situation, existence of competitor, and government

policies. Where these factors are adverse in nature, performance automatically suffers.

During this period, employees feel insecure, which reduces overall job satisfaction.

In public sector banks, welfare policies are clearly defined and legally enforced.

Retirement, pensions, gratuity, and other related welfare policies are effectively executed.

So there is no problem with social security. In private sector banks, welfare activities are

neither well planned nor well executed. Employee turnover is very high and job security

53

is very low. Most employees are from middle class Indian families. These employees

have seen the golden period of public sectors and government jobs during their growing

stages. So the effect of welfare schemes of government jobs and public sectors cannot be

easily eradicated from their psyche. Private sector employees are ready to work hard but

they demand pensions, security, and sometimes an easy lifestyle.

These findings in the banking sectors could be extended to explain the job situation in

other service sectors. In terms of security, promotion, and welfare policy, there is a clear

difference between public and private sector employees. It was stated earlier that when

we compare the job satisfaction of employees in public and private sector banks or in

other service sectors, the public and private sectors become the main factor of

comparison. In India, the public or private sector factors neutralise all other factors of

comparison. For example, in India, a public sector insurance company like LIC will

always be preferred by a new entrant, if he has a choice.

54

INCREASE EMPLOYEE SATISFACTION AND

PRODUCTIVITY

By providing amenities that make your building a healthier and more comfortable place

to work, you can reduce employee absenteeism and turnover while increasing

productivity. Even small workplace improvements, such as installing individual

temperature and ventilation controls, improving the flow of natural light and providing

access to a roof garden, can have a big impact on your company's bottom line.

The EPA estimates that building-related illnesses account for $60 billion in annual

productivity lost nationwide. And according to a University of Wisconsin study, tangible

costs of hiring and retaining a new employee typically range between $10,000 and

$50,000 -- plus less quantifiable, but no less real, productivity costs as employees adapt

to the new work environment and cultivate relationships with clients, coworkers,

contractors, etc. With less absenteeism and greater employee retention, your investments

in green building features will quickly pay for themselves.

In a 2004 survey of 719 building owners, developers, architects, engineers and

consultants, Turner Construction found that 91 percent of executives involved

with green buildings believed that the health and well-being of their building

occupants was greater.

By installing skylights, fluorescent light fixtures and additional insulation to

improve lighting and temperature control, Verifone's credit card verification

facility in Costa Mesa, California, decreased its energy consumption 59 percent,

reduced employee absenteeism by 47 percent and boosted productivity by 5

percent to 7 percent.

At the headquarters of the West Bend Mutual Insurance Company in West Bend, Wisconsin, green features including individual workstation controls for temperature,

airflow, lighting and noise contributed to a 15 percent increase in claims processing per employee.

55

WHAT IS RESEARCH ?

Research is a systematic and continues method of defining a problem, collecting the

facts and analyzing them, reaching conclusion forming generalizations.

The systematic and objective identification, collection, analysis, dissemination, and use

of information for the purpose of assisting management in decision making related to the

identification related to solution to problems and opportunities .

Marketing Research is the function that links the customer, concumer, and public to the

marketer through information- information used to identify and define marketing

opportunities and problems; generate, refine, and evaluate marketing actions; monitor

marketing performance; and improve understanding of marketing as a process.

The study of research methods provides manager knowledge and skill needed to solve the

problems and meet the challenges of a fast-paced decision-making environment. Three

factors that stimulate an interest of managers in research study are

The manager’s increased need for more and better information.

The availability of increased techniques and tools to meet this need.

The result information overload if discipline is not employed in the process.

RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the problem. It may be

understood has a science of studying how research is done scientifically. In it we study

the various steps that all generally adopted by a researcher in studying his research

problem along with the logic behind them.

The scope of research methodology is wider than that of research method. Thus when we

talk of research methodology we not only talk of research methods but also consider the

56

logic behind the method we use in the context of our research study and explain why we

are using a particular method.

So we should consider the following steps in research methodology:

Problem statement

Objective of study

Research design

Data collection

Sample design

Statistical tool

Limitation of study

RESEARCH DESIGNA 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.

57

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:

Primary Data

Secondary Data

Primary Data

The Primary Data are those, which are collected afresh and for the first time, and thus

happened to be original in character.

Observation.

Personal Interviews.

Telephonic interviews.

Questionnaires.

Schedules.

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

Old records.

In this project I am using both the method of data collection

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SAMPLE DESIGN

A sample design is a definite plan for obtaining a sample from a given population. It

refers to the technique or the procedure and the researcher would adopt in selecting items

of sample. Sample design may as well lay down the number of items to be included in the

sample i.e. the size of the sample. Sample design is determined before data are collected.

Before going trough sampling design, let us learn some terms.

Population : The aggregate of all the elements, sharing some common set of

characteristics, that comprises the universe for the purpose of the research problem.

Sample : A subgroup of the elements of the population selected for participation in the

study.

In this project sample size is 40 employees

Sampling Unit: The basic unit containing the elements of the population to be sampled.

In this project sampling unit is employees

Sampling Technique used in survey ---

Nonprobability Sampling Techniques.

• Convenience Sampling. Nonprobability sampling techniques do not use chance selection procedures. Rather, they

rely on the personal judgment of the researcher where as probability sampling procedure

each element of the population has fixed probabilistic chance of being selected for the

sample.

In our survey, we have used nonprobabilty sampling technique because there is no way of

determining the probability of selecting any particular element for inclusion for the

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sample, the estimates obtained are not statistically projectable to the population. We have

selected the sample with help of Sales Manager and their Life Advisors.

Among nonprabability sampling techniques, the sampling technique applied here is

convenience sampling. Convenience Sampling attempts to obtain a sample of convenient

elements. The selection units is left primarily to the inerviewer. Convenience Sampling is

the least expensive and least time consuming of all sampling techniques. The sampling

units are accessible, easy to maesure, and cooperative. In spite of these advantages, his

form of sampling has seroius limitations. Many potential sources of selection bias are

present, including respondent self-selection. Convenience Samples aer not representative

of any definable population.

QUESTIONNAIRE DESIGN

A Questionnaire, whether it is called a schedule, interview form, or measuring

instrument, is a structured technique for data collection that consists of series of question,

written or verbal, that a respondent answers.

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.

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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

data to a manageable size, developing summaries, looking for patterns and applying

statististical techniques. Scaled responses on questionnaires and experimental instruments

often require the analyst to derive various functions, as well as to explore relationships

among variables.

In various cases when we deal with statistics we find that the variables are related to each

other or we can also say two variables seem to move in the same direction such as both

are increasing or decreasing or even some factors tend to move in the opposite direction

also means one is increasing and the other is decreasing. Analysis has been done by

applying various statistical tools to study the basic factors that lead to Job satisfaction

among Job Work Assignees. Various important factors identified during the study are:-

• Job security

• Motivation " Attitude

• Stress

One of the tools used for the analysis is correlation among various factors using Karl

Pearson's method through Bivariate table in the software SPSS.

61

Respondent by Gender

Male 29

Female 11

Total 40TABLE 1- SHOWS RESPONDENTS BY GENDER

Male72%

Female28%

FIG-1 SHOWS RESPONDENTS BY GENDER

Here we can see maximum number of respondent is male that is 72% and female are

only 28%.

This helps us to know that mostly male employees are working in HDFC Bank.

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Departments of Respondent

Departments No. of employees

Marketing 22

Human resource 8

Finance 5

operation 5

TABLE 2-SHOWS DEPARTEMENTS OF RESPONDENTS

No. of employees

0

5

10

15

20

25

Marketing Humanresource

Finance operation

No. of employees

FIG-2 SHOWS DEPARTEMENTS OF RESPONDENTSHere we can see maximum number of respondent are for marketing department that are 22 out of 40 respondent

63

Work Experience of Respondent

S.no Experience in years No. of Respondents

1 less then 1 year 15

2 more then 1 year 10

3 less then 2 year 8

4 more then 2 year 7

TABLE 3-SHOWS WORK EXPERINCE OF RESPONDENT

0

2

4

6

8

10

12

14

16

less then 1year

more then 1year

less then 2year

more then 2year

1 2 3 4

No. of Respondents

FIG-3 SHOWS WORK EXPERINCE OF RESPONDENT

Here we can see that employees are not experienced.15 employees are having the

experience of less than 1 year and 13 of less then 2 year.

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Satisfaction level with the job

S. NO. Satisfaction Level No. of Respondents

1 Like very much 25

2 Like some what 10

3 Neutral 4

4 Dislike some what 1

5 Dislike very much Nil

TABLE 4 SHOWS SATISFACTION LEVEL WITH THE JOB

Employee satisfaction

0

5

10

15

20

25

30

1 2 3 4 5

Series2

FIG-4 SHOWS SATISFACTION LEVEL WITH THE JOB

The data in the above table reveals that majority of respondents (25) were highly

satisfied wih their job and 10 of respondents are satisfied with their job.

This show that employees are satisfied with their job.

65

Satisfy with the behavior of management and other employees

S.noSatisfaction Level

No. of Respondents

1Highly Satisfied 22

2 Satisfied 103 Moderate 54 Unsatisfied 2

5Highly Unsatisfied 1

TABLE 5 Shows Satisfaction level with the behavior of management and other employees

No. of Respondents

0

5

10

15

20

25

Highly Satisfied Satisfied Moderate Unsatisfied HighlyUnsatisfied

No. of Respondents

Fig 5 -Shows Satisfaction level with the behavior of management and other employees

The data in the above table reveals that majority of respondents (22) were highly

satisfied wih the behaviour of other employees and 10 of respondents are satisfied

and 5 are moderate.

66

Career and growth opportunities

S.no Preferences No. of Respondents

1 Yes 36

2 No 4

Table6 –Shows Career and growth opportunities for emloyees.

No. of Respondents

Yes90%

No10%

Fig-6 Shows Career and growth opportunities for emloyees.

Here we can see maximum number of respondent are think that there career and growth

opportunities offered by the job is that is 90% .

This shows that in HDFC Bank career and growth opportunities offered by the job.

67

Participation in Decision making

S.no Participation No. of Respondents

1 20%-30% 12

2 30%-40% 10

3 40%-50% 8

4 50%-60% 4

5 Above 60% 6

Table 7-Shows Participation of emloyees in Decision making

No. of Respondents

12

10

8

4

6

20%-30%

30%-40%

40%-50%

50%-60%

Above 60%

12

34

5

No. of Respondents

Fig-7 Shows Participation of emloyees in Decision making

Here we can see less number of respondent are participating in the Decision making

That is only 6 respondent are participating in the above60% decisions and 12 are

participating in 20%-30%.

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Satisfaction Level of Employees

S.NO. Satisfaction Level No. of Respondents

1. Highly Satisfied 9

2. Satisfied 15

3. Moderate 5

4. Unsatisfied 10

5. Highly Unsatisfied 1

Table8-Shows Satisfaction Level of Employees with the salary

No. of Respondents

0

2

4

6

8

10

12

14

16

HighlySatisfied

Satisfied Moderate Unsatisfied HighlyUnsatisfied

No. of Respondents

FIG8- Shows Satisfaction Level of Employees with the salary

The data in the above table tells us that majority of respondents (15) are satisfied with the

level of salary which they are getting and only (9) of respondents are highly satisfied with

this statement and (10) respondent are not satisfied with the salary which they are getting.

69

Management is flexible and understands the importance of balancing my work and personal life.

S. NO. Satisfaction Level No. of Respondents

1 Strongly agree 18

2 Agree 10

3 Undecided 8

4 Disagree 2

5 Strongly disagree 2

TABLE 9-Shows Management is flexible and understands the importance of balancing my work and personal life.

No. of Respondents

0

2

4

6

8

10

12

14

16

18

20

Stronglyagree

Agree Undecided Disagree Stronglydisagree

No. of Respondents

FIG-9 Shows Management is flexible and understands the importance of balancing my work and personal life.

The data in the above table tells us that majority of respondents (18) are satified with the

management flexible and understands the importance of balancing my work and personal

life.

70

Agree with the company bonus plans

S.no Satisfaction Level No. of Respondents

1 Strongly agree 82 Agree 12

3 Undecided 114 Disagree 65 Strongly disagree 3

TABLE-10 Shows how many employees agree with the company bonus plans

No. of Respondents

0

2

4

6

8

10

12

14

Stronglyagree

Agree Undecided Disagree Stronglydisagree

No. of Respondents

Fig-10 Shows how many employees agree with the company bonus plans

The data in the above table tells us that majority of respondents (12) are argee with the

bones plan which they are getting and (8) of respondents are strongly agree with this

statement and (11) respondent are undicided and (6) are disagree.

71

Is any change is require to improve the working condition

S.no Preferences No. of Respondents

1 Yes 32

2 No 8

TABLE-11 Shows how many employees feel to have improvement in working conditions

No. of Respondents

32

8

0 5 10 15 20 25 30 35

Yes

No

No. of Respondents

Fig-11 Shows how many employees agree with the company pay scale and bonus plans

Here we can see maximum number of respondent are think that change is require to

improve the working condition of the compony opportunities is that is 80% .

72

CONCLUSION

An extensive review of the topic "Study of the level of job satisfaction among job work

assignees" it was found that the most important factors conducive to job 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 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.

73

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

and maintained.

Limitation

There are various limitation faced during the study as the study bis related to the human psychology

and behaviour basically. Some of the problems faceddurig the study are:-

• while collecting the data it was noticed that most of the respondent were getting struck at

statement, they were actually related to make out whether the statement is related to their job or

routine life .

• Another major obstruction found the study was respondents were quite reluctant in giving their

original details.

• Even it is not noticed that some of the data entry operations were not even ready to fill in the

questionnaires, so their responses were most of the time neutral.

74

Suggestions

• 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

Which will ultimately lead to job satisfaction.

• The method of recruitment should be improved.

• Select the right person for the right job.

• Promotion policy should be improved

• Management should check the performance of their employees time to time.

• Overall work environment should also be improved.

75

                   REFERENCES 

BOOK S

Rbbins Stephen P , Organizational behaviour .

Beri. G C, Statistics for management, Tata McGraw Hill

Cooper donal R, Schindler Pamela S, Business Research Method.

Kothari C R, Research Methodology

INTERNET LINKS

http://findarticles.com/p/articles/mi_qa5321/is_200407/ai_n21351846/pg_5

http://humanresources.about.com/od/glossarye/a/employee_inv.htm

http://job satisfaction\job satisfaction3.htm

http:// satisfaction\job satisfaction\herzberg – motivation-hygiene theory.htm

http://www.nrdc.org/buildinggreen/bizcase/own_productivity.asp

http://www.nhpcindia.com/English/Scripts/Aboutus_Objectives.aspx

http://wiki.answers.com/Q/Why_to_study_about_employee_satisfaction

http://wiki.answers.com/Q/ What_is_the_importance_of_employee_satisfaction_in_an_organisation

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QUESTIONNAIRE

SURVEY ON EMPLOYEE’S SATISFACTION OF HDFC BANK

Questions:

Q.1 What is your gender.

l Male ● Female

Q.2 What department do you work in?

● ……………………..

Q.3 How long have you worked for this company?

●……………………..

Q.4 How do you like this job?

Like very Like some Neutral Dislike some Dislike very

Much what what Much

Q.5 I am treated with respect by management and the people I work with.

● Strongly Disagree

● Disagree

● Undecided

● Agree

● Strongly Agree

Q.6 Is there any career enhancement opportunities and growth in this job ?

● Yes ● No

Q.7 How much do you participate in decision making ?

o20%-30% o 30%-40% o 40%-50%

o 50%-60% o above 60%

Q.8 Are you satisfied with you salary level?

Highly Unsatisfied Moderate Satisfied Highly

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Unsatisfied Satisfied

Q.9 Management is flexible and understands the importance of balancing my work and

personal life.

● Strongly Disagree

● Disagree

● Undecided

● Agree

● Strongly Agree

Q.10 Are you agree with the company pay scale and bonus plans ?

Strongly Agree Undecided Disagree Strongly

Agree Disagree

Q.11 Do you feel there is change require in your department

to improve working conditions?

● YES ● NO

Q.12 Rank the following motivational factor according to you :-

FACTOR RANK(1 to 4 )1 is highest

● Promotion …… ● Reward and

Recognition ……

● Achievemant …… ● Higher

authority and responsibility ……

PERSONAL DETAIL :

NAME :- …………………………. MOBILE NO:- ………………………….ADDRESS OF COMMUNICATION:- …………………………… ………………………….

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