Employee Satisfaction Project Final

A STUDY ON THE EMPLOYEE SATISFACTION OF

PUNJAB NATIONAL BANK

A Project Submitted in Partial Fulfillment of the

Requirements for the Award of the Degree of

BACHELOR OF BUSINESS ADMINISTRATION

By

AISHA KUMAR(BBA/40004/13)

DEPARTMENT OF MANAGEMENT BIRLA INSTITUTE OF TECHNOLOGY, MESRA

EXTENSION CENTRE LALPUR, RANCHI2015.

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DECLARATION CERTIFICATE

This is to certify that the work presented in the project entitled “A STUDY ON

EMPLOYEE SATISFACTION – A CASE OF PUNJAB NATIONAL BANK” in partial

fulfillment of the requirement for the award of degree of Bachelor of Business

Administration of Birla Institute of Technology, Mesra, Lalpur Extension Centre,

Ranchi is an authentic work carried out under my supervision and guidance.

To the best of my knowledge, the content of this project does not form a basis for the

award of any previous degree to anyone else.

DATE: DR. MILI DUTTA

DEPARTMENT OF MANAGEMENT,

BIRLA INSTITUTE OF TECHNOLOGY

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CERTIFICATE OF APPROVAL

The foregoing project “A STUDY ON THE EMPLOYEE SATISFACTION – A CASE

OF PUNJAB NATIONAL BANK” is hereby approved as a creditable study of

research topic and has been presented in a satisfactory manner to warrant its

acceptance and prerequisite to the degree for which it has been submitted.

It is understood that by this approval, the undersigned do not necessarily endorse

any conclusion drawn or opinion expressed therein, but the project for the purpose

for which it is submitted.

(Internal Examiner) (External Examiner)

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ACKNOWLEDGEMENT

This project bears an imprint of many people. First of all, I would like to thank my

project guide Dr. Mili Dutta for her time and guidance she has extended to me. I

would also like to thank Mr.Pradhan and Mr.A.Das of Punjab National Bank for

allowing me to undertake this project work.

I hereby express my deep gratitude to Dr.A.N.Jha, in charge of BIT, Mesra, Lalpur

Extension Centre, for motivating us to undertake this project work. I would also like

to thank my family and friends for their support and helped me in the completion of

this project.

AISHA KUMAR

BBA/40004/13

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Contents

CHAPTER –I............................................................................................................................7

1. INTRODUCTION..............................................................................................................8

1.1 INTRODUCTION TO PUNJAB NATIONAL BANK..................................................10

CHAPTER – II........................................................................................................................13

2.1 PROBLEM DEFINITION.........................................................................................14

CHAPTER – III.......................................................................................................................15

3.1 OBJECTIVES OF THE STUDY...............................................................................16

3.2 SCOPE....................................................................................................................17

CHAPTER – IV......................................................................................................................18

4.1 LITERATURE REVIEW...........................................................................................19

4.2 MODELS.................................................................................................................19

4.3 INFLUENCING FACTORS: ENVIRONMENTAL FACTORS..................................23

4.4 INDIVIDUAL FACTORS..........................................................................................25

4.5 MEASURING...........................................................................................................28

4.6 RELATIONSHIPS AND PRACTICAL IMPLICATIONS...........................................29

CHAPTER – V.......................................................................................................................31

5.1 RESEARCH METHODOLOGY...............................................................................32

5.1.1 RESEARCH DESIGN.................................................................................................32

5.1.2 DATA COLLECTION TOOLS.....................................................................................32

5.1.3 DATA ANALYSIS TOOLS:.........................................................................................33

CHAPTER – VI......................................................................................................................34

6.1 ANALYSIS AND FINDINGS....................................................................................35

6.2 LIMITATIONS OF THE STUDY:.............................................................................53

CHAPTER VII........................................................................................................................54

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7.1 SUGGESTIONS......................................................................................................55

CHAPTER VIII.......................................................................................................................56

8.1 CONCLUSION........................................................................................................57

BIBLIOGRAPGHY.................................................................................................................58

ANNEXURE...........................................................................................................................59

QUESTIONNAIRE.................................................................................................................60

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CHAPTER –I

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1. INTRODUCTION

Human resource is considered to be the most valuable asset in any organization. It

is the sum-total of inherent abilities, acquired knowledge and skills represented by

the talents and aptitudes of the employed persons who comprise executives,

supervisors and the rank and file employees. It may be noted here that human

resource should be utilized to the maximum possible extent, in order to achieve

individual and organizational goals. It is the employee’s performance, which

ultimately decides the attainment of goals. However, the employee performance is to

a large extent, influenced by motivation and job satisfaction.

Employee satisfaction is the terminology used to describe whether employees

are happy and contented and fulfilling their desires and needs at work. The term

‘employee satisfaction’ relates to the relationship between an individual and the

employer for which he is paid. Satisfaction does mean the simple feeling or state

accompanying the attainment of any goal; the end state is feeling accompanying the

attainment by an impulse of its objective. Employee satisfaction or job satisfaction is,

quite simply, how content or satisfied employees are with their jobs. Employee

satisfaction is typically measured using an employee satisfaction survey. These

surveys address topics such as compensation, workload, perceptions of

management, flexibility, teamwork, resources, etc.

The survey made regarding the job satisfaction in Punjab National Bank will

facilitate and enable the management to know the perceptions and inner feelings of

the employees regarding the job they are performing on a day-to-day basis. The

term job satisfaction reveals and focuses on the likes and dislikes of the employees

of Punjab National Bank. In this particular study the researcher tries to identify the

causes for satisfaction and dissatisfaction among the employees. So this is the most

effective and selective instrument for diagnosing the employee’s problems.

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Job satisfaction survey can give the most valuable information of the

perception of the employees because the employees’ attitude towards the job may

be either positive or negative. The positive feelings can be re-in forced and negative

feelings can be rectified. This survey can be treated as the most effective and

efficient way, which makes the workers to express their inner and real feelings.

For any future course of action/development, which involves employee’s

participation, the management will get a picture of its employees’ acceptance and

readiness. This survey also enables to avoid misinterpretations and helps the

management in solving problems effectively.

Contentment and satisfaction motivates an employee to be confident with a high morale so it is an asset to the organization as a whole.

Thus the high motivation and morale of an employee helps him to stay in the organization and encourage himself to face competition and gives him enough dynamism to face challenges.

Every human being possesses unique skills, which if properly channeled, ultimately leads to the achievement of organizational goals.

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1.1 INTRODUCTION TO PUNJAB NATIONAL BANK

Punjab National Bank is an Indian financial services company based in New Delhi,

India. Founded in 1894, the bank has over 6,300 branches and over 7,900 ATMs

across 764 cities. It serves over 80 million customers.

Punjab National Bank is one of the Big Four banks of India, along with State Bank of

India, ICICI Bank and Bank of Baroda. It is the third largest bank in India in terms of

asset size (billion by the end of FY 2012-13). The bank has been ranked 248 th

biggest bank in the world by the Bankers’ Almanac.

PNB has a banking subsidiary in the UK (PNB International Bank, with seven

branches in the UK), as well as branches in Hong Kong, Kowloon, Dubai and Kabul.

It has representative offices in Almaty (Kazakhstan), Dubai, Shanghai (China), Oslo

(Norway) and Sydney (Australia). In Bhutan it owns 51% of Druk PNB Bank, which

has five branches. PNB owns 20% of Everest Bank Limited, which has 50 branches

in Nepal. Lastly, PNB owns 84% of JSC (SB) PNB Bank in Kazakhstan, which has

four branches.

1.1.1.History

Punjab National Bank was registered on 19 May 1894 under the Indian Companies

Act, with its office in Anarkali Bazar, Lahore. The founding board was drawn from

different parts of India professing different faiths and a varied back-ground with,

however, the common objective of providing country with a truly national bank which

would further the economic interest of the Dyal Singh Majithia country. PNB’s

founders included several leaders of the Swadeshi movement such as and Lala

Harkishan Lal, Lala Lalchand, Shri Kali Prosanna Roy, Shri E.C. Jessawala, Shri

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Prabhu Dayal, Bakshi Jaishi Ram, and Lala Dholan Dass. Lala Lajpat Rai was

actively associated with the management of the Bank in its early years. The board

first met on 23 May 1894.[1] The bank opened for business on 12 April 1895 in

Lahore.

PNB has the distinction of being the first Indian bank to have been started solely with

Indian capital that has survived to the present. (The first entirely Indian bank, Oudh

Commercial Bank, was established in 1881 in Faizabad, but failed in 1958.)

PNB has had the privilege of maintaining accounts of national leaders such as

Mahatma Gandhi, Jawahar Lal Nehru, Lal Bahadur Shastri, Indira Gandhi, as well as

the account of the famous Jalianwala Bagh Committee.

1.1.2. Employees

As on 31 March 2015, the bank had 68,290 employees. As of 31 March 2013, it also

had 919 employees with disabilities on the same date (1.45%) The average age of

bank employees on the same date was 46 years. The bank reported business of

INR 11.65 crores per employee and net profit of INR 8.06 lakhs per employee during

the FY 2012-13. The company incurred INR 5,751 crores towards employee benefit

expenses during the same financial year.

1.1.3. Vision

To be a Leading Global Bank with Pan India footprints and become a household

brand in the Indo-Gangetic Plains providing entire range of financial products and

services under one roof”

1.1.4. Mission

“Banking for the unbanked”

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https://en.wikipedia.org/wiki/Jalianwala_Bagh

https://en.wikipedia.org/wiki/Indira_Gandhi

https://en.wikipedia.org/wiki/Lal_Bahadur_Shastri

https://en.wikipedia.org/wiki/Jawahar_Lal_Nehru

https://en.wikipedia.org/wiki/Faizabad

https://en.wikipedia.org/wiki/Punjab_National_Bank#cite_note-Origin-1

1.1.5. Organizational Structure

Bank has its Corporate Office at New Delhi that supervises 13 FGM offices and 69

Circle Offices under which the branches function. The delegation of powers is

decentralized up to the branch level to facilitate quick decision making.

1.1.6. Organizational Setup

Head Office

FGM Offices & GM Overseas

Circle Offices

Branches

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https://pnbindia.in/new/Upload/En/branch_locator.pdf

https://pnbindia.in/new/Upload/En/CO_Details.pdf

CHAPTER – II

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2.1 PROBLEM DEFINITION

The study was undertaken to understand the level of satisfaction of the employee’s

of PNB, Circle Office, Ranchi. This research work was important for both the

organization and the employees.

The findings can help the organization to know the problems that the employees are

facing and help it to remove the causes of dissatisfaction among the employees.

This can be very beneficial to the organization as removing the causes of

dissatisfaction and promoting an environment where the employees feel utilized, can

make them more productive which will in turn help the organization realize its goals

timely and efficiently.

On the other hand, the results are important with regard to the employees because it

will help them to analyze the conditions in which they work, the opportunities they

get and the shortcomings they face. They can become more productive if the

conditions favorable to them are fostered. This will help them to achieve both their

personal and the organizational goals.

Thus, this study on EMPLOYEE SATISFACTION was conducted.

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CHAPTER – III

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3.1 OBJECTIVES OF THE STUDY

The main aim of the study is to analyze and examine level of job satisfaction among

the PNB employees and to know the problems faced by the employees of the

various categories. The specific objectives are as follows:

To present a profile of PNB and organizational structure etc.,

To understand the level of satisfaction among of employees relating to the nature

of the job, salary and other benefits.

To evaluate the impact of job satisfaction on the job performance of the

employees.

To observe the working environment in PNB.

To suggest suitable measures to improve the overall satisfaction of the

employees in the organization.

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3.2 SCOPE

In the survey an attempt has been made to analyze the job satisfaction of

employees at the PNB Circle Office, Ranchi, Jharkhand.

The Head Office of PNB is situated at New Delhi with one of its Circle Offices

in the Capital of Jharkhand, Ranchi. The study tries to understand the level of

satisfaction among the employees of PNB. It further explains the area on which

employees are mostly dissatisfied.

Job satisfaction of the employees has been analyzed on the basis of the

following seventeen job related factors.

Salary and monetary benefits

Job security

Promotion policy

Working environment

Employees participation in management

Freedom of expressions

Nature of job

Interest taken by superiors

Superiors and sub-ordinate relationship

Loans

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CHAPTER – IV

4.1 LITERATURE REVIEW

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What is Job Satisfaction?

Job satisfaction or employee satisfaction has been defined in many different

ways. Some believe it is simply how content an individual is with his or her job, in

other words, whether or not they like the job or individual aspects or facets of jobs,

such as nature of work or supervision. Others believe it is not so simplistic as this

definition suggests and instead that multidimensional psychological responses to

one’s job are involved. Researchers have also noted that job satisfaction measures

vary in the extent to which they measure feelings about the job (affective job

satisfaction) or cognitions about the job (cognitive job satisfaction).

2.3.4.5.

5.1.

4.2 MODELS

4.2.1 Affect theory

Edwin A. Locke’s Range of Affect Theory (1976) is arguably the most famous job

satisfaction model. The main premise of this theory is that satisfaction is determined

by a discrepancy between what one wants in a job and what one has in a job.

Further, the theory states that how much one values a given facet of work (e.g. the

degree of autonomy in a position) moderates how satisfied/dissatisfied one becomes

when expectations are/aren’t met. When a person values a particular facet of a job,

his satisfaction is more greatly impacted both positively (when expectations are met)

and negatively (when expectations are not met), compared to one who doesn’t value

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that facet. To illustrate, if Employee A values autonomy in the workplace and

Employee B is indifferent about autonomy, then Employee A would be more satisfied

in a position that offers a high degree of autonomy and less satisfied in a position

with little or no autonomy compared to Employee B. This theory also states that too

much of a particular facet will produce stronger feelings of dissatisfaction the more a

worker values that facet.

4.2.2 Dispositional approach

The dispositional approach suggests that individuals vary in their tendency to be

satisfied with their jobs, in other words, job satisfaction is to some extent an

individual trait. This approach became a notable explanation of job satisfaction in

light of evidence that job satisfaction tends to be stable over time and across careers

and jobs. Research also indicates that identical twins raised apart have similar levels

of job satisfaction.

A significant model that narrowed the scope of the dispositional approach was the

Core Self-evaluations Model, proposed by Timothy A. Judge, Edwin A. Locke, and

Cathy C. Durham in 1997. Judge et al. argued that there are four Core Self-

evaluations that determine one’s disposition towards job satisfaction: self-esteem,

general self-efficacy, locus of control, and neuroticism. This model states that higher

levels of self-esteem (the value one places on his/her self) and general self-efficacy

(the belief in one’s own competence) lead to higher work satisfaction. Having an

internal locus of control (believing one has control over her\his own life, as opposed

to outside forces having control) leads to higher job satisfaction. Finally, lower levels

of neuroticism lead to higher job satisfaction.

4.2.3 Equity theory

Equity Theory shows how a person views fairness in regard to social relationships

such as with an employer. A person identifies the amount of input (things gained)

from a relationship compared to the output (things given) to produce an input/output

ratio. They then compare this ratio to the ratio of other people in deciding whether or

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not they have an equitable relationship. Equity Theory suggests that if an individual

thinks there is an inequality between two social groups or individuals, the person is

likely to be distressed because the ratio between the input and the output are not

equal.

For example, consider two employees who work the same job and receive the same

pay and benefits. If one individual gets a pay raise for doing the same work as the

other, then the less benefited individual will become distressed in his workplace. If,

on the other hand, both individuals get pay raises and new responsibilities, then the

feeling of equity will be maintained.

Other psychologists have extended the equity theory, suggesting three behavioral

response patterns to situations of perceived equity or inequity (Huseman, Hatfield, &

Mile, 1987; O’Neil & Mone 1998). These three types are benevolent, equity

sensitive, and entitled. The level by each type affects motivation, job satisfaction,

and job performance.

Benevolent-Satisfied when they are under-rewarded compared with co-

workers

Equity sensitive-Believe everyone should be fairly rewarded

Entitled-People believe that everything they receive is their just due

4.2.4 Discrepancy theory

The concept of discrepancy theory is to explain the ultimate source of anxiety and

dejection. An individual who has not fulfilled his responsibility feels the sense of

anxiety and regret for not performing well. They will also feel dejection due to not

being able to achieve their hopes and aspirations. According to this theory, all

individuals will learn what their obligations and responsibilities are for a particular

function, and if they fail to fulfill those obligations then they are punished. Over time,

these duties and obligations consolidate to form an abstracted set of principles,

designated as a self-guide. Agitation and anxiety are the main responses when an

individual fails to achieve the obligation or responsibility. This theory also explains

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that if achievement of the obligations is obtained then the reward can be praise,

approval, or love. These achievements and aspirations also form an abstracted set

of principles, referred to as the ideal self guide. When the individual fails to obtain

these rewards, they begin to have feelings of dejection, disappointment, or even

depression.

4.2.5 Two-factor theory (motivator-hygiene theory)

Frederick Herzberg’s two-factor theory (also known as motivator-hygiene theory)

attempts to explain satisfaction and motivation in the workplace. This theory states

that satisfaction and dissatisfaction are driven by different factors – motivation and

hygiene factors, respectively. An employee’s motivation to work is continually related

to job satisfaction of a subordinate. Motivation can be seen as an inner force that

drives individuals to attain personal and organizational goals (Hoskinson, Porter, &

Wrench, p. 133). Motivating factors are those aspects of the job that make people

want to perform, and provide people with satisfaction, for example achievement in

work, recognition, promotion opportunities. These motivating factors are considered

to be intrinsic to the job, or the work carried out. Hygiene factors include aspects of

the working environment such as pay, company policies, supervisory practices, and

other working conditions.

While Herzberg’s model has stimulated much research, researchers have been

unable to reliably empirically prove the model, with Hackman & Oldham suggesting

that Herzberg’s original formulation of the model may have been a methodological

artifact. Furthermore, the theory does not consider individual differences, conversely

predicting all employees will react in an identical manner to changes in

motivating/hygiene factors. Finally, the model has been _achiavell in that it does not

specify how motivating/hygiene factors are to be measured.

4.2.6 Job characteristics model

Hackman & Oldham proposed the job characteristics model, which is widely used as

a framework to study how particular job characteristics impact job outcomes,

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including job satisfaction. The five core job characteristics can be combined to form

a motivating potential score (MPS) for a job, which can be used as an index of how

likely a job is to affect an employee’s attitudes and behaviors. Not everyone is

equally affected by the MPS of a job. People who are high in growth need strength

(the desire for autonomy, challenge and development of new skills on the job) are

particularly affected by job characteristics. A meta-analysis of studies that assess

the framework of the model provides some support for the validity of the JCM.

4.3 INFLUENCING FACTORS: ENVIRONMENTAL FACTORS

4.3.1 Communication overload and under load

One of the most important aspects of an individual’s work in a modern organization

concerns the management of communication demands that he or she encounters on

the job. Demands can be characterized as a communication load, which refers to

“the rate and complexity of communication inputs an individual must process in a

particular time frame.” Individuals in an organization can experience communication

over-load and communication under- load which can affect their level of job

satisfaction. Communication overload can occur when “an individual receives too

many messages in a short period of time which can result in unprocessed

information or when an individual faces more complex messages that are more

difficult to process”. Due to this process, “given an individual’s style of work and

motivation to complete a task, when more inputs exist than outputs, the individual

perceives a condition of overload which can be positively or negatively related to job

satisfaction. In comparison, communication under load can occur when messages or

inputs are sent below the individual’s ability to process them.” According to the ideas

of communication over-load and under-load, if an individual does not receive enough

input on the job or is unsuccessful in processing these inputs, the individual is more

likely to become dissatisfied, aggravated, and unhappy with their work which leads

to a low level of job satisfaction.

4.3.2 Superior-subordinate communication

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Superior-subordinate communication is an important influence on job satisfaction in

the workplace. The way in which subordinates perceive a supervisor’s behavior can

positively or negatively influence job satisfaction. Communication behavior such as

facial expression, eye contact, vocal expression, and body movement is crucial to

the superior-subordinate relationship (Teven, p. 156). Nonverbal messages play a

central role in interpersonal interactions with respect to impression formation,

deception, attraction, social influence, and emotional.Nonverbal immediacy from the

supervisor helps to increase interpersonal involvement with their subordinates

impacting job satisfaction. The manner in which supervisors communicate with their

subordinates non-verbally may be more important than the verbal content (Teven,

p. 156). Individuals who dislike and think negatively about their supervisor are less

willing to communicate or have motivation to work whereas individuals who like and

think positively of their supervisor are more likely to communicate and are satisfied

with their job and work environment. A supervisor who uses nonverbal immediacy,

friendliness, and open communication lines is more likely to receive positive

feedback and high job satisfaction from a subordinate. Conversely, a supervisor who

is antisocial, unfriendly, and unwilling to communicate will naturally receive negative

feedback and create low job satisfaction in their subordinates in the workplace.

4.3.3 Strategic employee recognition

A Watson Wyatt Worldwide study identified a positive outcome between a collegical

and flexible work environment and an increase in shareholder value. Suggesting that

employee satisfaction is directly related to financial gain. Over 40 percent of the

companies listed in the top 100 of Fortune magazine’s, “America’s Best Companies

to Work For” also appear on the Fortune 500. It is possible that successful workers

enjoy working at successful companies, however, the Watson Wyatt Worldwide

Human Capital Index study claims that effective human resources practices, such as

employee recognition programs, lead to positive financial outcomes more often than

positive financial outcomes lead to good practices.

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Employee recognition is not only about gifts and points. It’s about changing the

corporate culture in order to meet goals and initiatives and most importantly to

connect employees to the company’s core values and beliefs. Strategic employee

recognition is seen as the most important program not only to improve employee

retention and motivation but also to positively influence the financial situation. The

difference between the traditional approach (gifts and points) and strategic

recognition is the ability to serve as a serious business influencer that can advance a

company’s strategic objectives in a measurable way. “The vast majority of

companies want to be innovative, coming up with new products, business models

and better ways of doing things. However, innovation is not so easy to achieve. A

CEO cannot just order it, and so it will be. You have to carefully manage an

organization so that, over time, innovations will emerge.”

4.4 INDIVIDUAL FACTORS

4.4.1 Emotion

Mood and emotions at work are related to job satisfaction. Moods tend to be longer

lasting but often weaker states of uncertain origin, while emotions are often more

intense, short-lived and have a clear object or cause.

Some research suggests moods are related to overall job satisfaction. Positive and

negative emotions were also found to be significantly related to overall job

satisfaction.

Frequency of experiencing net positive emotion will be a better predictor of overall

job satisfaction than will intensity of positive emotion when it is experienced.

Emotion work (or emotion management) refers to various types of efforts to manage

emotional states and displays. Emotion management includes all of the conscious

and unconscious efforts to increase, maintain, or decrease one or more components

of an emotion. Although early studies of the consequences of emotional work

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emphasized its harmful effects on workers, studies of workers in a variety of

occupations suggest that the consequences of emotional work are not uniformly

negative.

It was found that suppression of unpleasant emotions decreases job satisfaction and

the amplification of pleasant emotions increases job satisfaction.

The understanding of how emotion regulation relates to job satisfaction concerns

two models:

1. Emotional dissonance. Emotional dissonance is a state of discrepancy

between public displays of emotions and internal experiences of emotions, that often

follows the process of emotion regulation. Emotional dissonance is associated with

high emotional exhaustion, low organizational commitment, and low job satisfaction.

2. Social interaction model. Taking the social interaction perspective, workers’

emotion regulation might beget responses from others during interpersonal

encounters that subsequently impact their own job satisfaction. For example: The

accumulation of favorable responses to displays of pleasant emotions might

positively affect job satisfaction.

4.4.2 Genetics

It has been well documented that genetics influence a variety of individual

differences .Some research suggests genetics also play a role in the intrinsic, direct

experiences of job satisfaction like challenge or achievement (as opposed to

extrinsic, environmental factors like working conditions). One experiment used sets

of monozygotic twins, reared apart, to test for the existence of genetic influence on

job satisfaction. While the results indicate the majority of the variance in job

satisfaction was due to environmental factors (70%), genetic influence is still a minor

factor. Genetic heritability was also suggested for several of the job characteristics

measured in the experiment, such as complexity level, motor skill requirements, and

physical demands.

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4.4.3 Personality

Some research suggests an association between personality and job satisfaction.

Specifically, this research describes the role of negative affectivity and positive

affectivity. Negative affectivity is related strongly to the personality trait of

neuroticism. Individuals high in negative affectivity are more prone to experience

less job satisfaction. Positive affectivity is related strongly to the personality trait of

extraversion. Those high in positive affectivity are more prone to be satisfied in most

dimensions of their life, including their job. Differences in affectivity likely impact how

individuals will perceive objective job circumstances like pay and working conditions,

thus affecting their satisfaction in that job.

There are two personality factors related to job satisfaction, alienation and locus of

control. Employees who have an internal locus of control and feel less alienated are

more likely to experience job satisfaction, job involvement and organizational

commitment. A meta-analysis of 187 studies of job satisfaction concluded that high

satisfaction was positively associated with internal locus of control. The study also

showed characteristics like high _achiavellianism, narcissism, trait anger, type A

personality dimensions of achievement striving and impatience/irritability, are also

related to job satisfaction.

4.4.4 Psychological well-being

Psychological well-being (PWB) is defined as “the overall effectiveness of an

individual’s psychological functioning” as related to primary facets of one’s life: work,

family, community, etc. There are three defining characteristics of PWB. First, it is a

phenomenological event, meaning that people are happy when they subjectively

believe themselves to be so. Second, well-being involves some emotional

conditions. Particularly, psychologically well people are more prone to experience

positive emotions and less prone to experience negative emotions. Third, well-being

refers to one’s life as a whole. It is a global evaluation. PWB is primarily measured

using the eight-item Index of Psychological Well-Being developed by Berkman

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(IPWB). IPWB asks respondents to reply to a series a questions on how often they

felt “pleased about accomplishing something,” “bored,” “depressed or unhappy,” etc.

PWB in the workplace plays an important role in determining job satisfaction and has

attracted much research attention in recent years. These studies have focused on

the effects of PWB on job satisfaction as well as job performance. One study noted

that because job satisfaction is specific to one’s job, the research that examined job

satisfaction had not taken into account aspects of one’s life external to the job. Prior

studies had focused only on the work environment as the main determinant of job

satisfaction. Ultimately, to better understand job satisfaction (and its close relative,

job performance), it is important to take into account an individual’s PWB. Research

published in 2000 showed a significant correlation between PWB and job

satisfaction (r = .35, p < .01). A follow-up study by the same authors in 2007

revealed similar results (r = .30, p < .01). In addition, these studies show that PWB is

a better predictor of job performance than job satisfaction alone.

4.5 MEASURING

The majority of job satisfaction measures are self-reports and based on multi-item

scales. Several measures have been developed over the years, although they vary

in terms of how carefully and distinctively they are conceptualized with respect to

affective or cognitive job satisfaction. They also vary in terms of the extent and rigour

of their psychometric validation.

The Brief Index of Affective Job Satisfaction (BIAJS) is a 4-item, overtly affective

as opposed to cognitive, measure of overall affective job satisfaction. The BIAJS

differs from other job satisfaction measures in being comprehensively validated not

just for internal consistency reliability, temporal stability, convergent and criterion-

related validities, but also for cross-population invariance by nationality, job level,

and job type. Reported internal consistency reliabilities range between .81 and .87.

The Job Descriptive Index (JDI),is a specifically cognitive job satisfaction measure.

It measures one’s satisfaction in five facets: pay, promotions and promotion

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opportunities, coworkers, supervision, and the work itself. The scale is simple,

participants answer either yes, no, or can’t decide (indicated by ‘?’) in response to

whether given statements accurately describe one’s job.

Other job satisfaction questionnaires include: the Minnesota Satisfaction

Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The

MSQ measures job satisfaction in 20 facets and has a long form with 100 questions

(five items from each facet) and a short form with 20 questions (one item from each

facet). The JSS is a 36 item questionnaire that measures nine facets of job

satisfaction. Finally, the Faces Scale of job satisfaction, one of the first scales used

widely, measured overall job satisfaction with just one item which participants

respond to by choosing a face.

4.6 RELATIONSHIPS AND PRACTICAL IMPLICATIONS

Job satisfaction can be indicative of work behaviors such as organizational

citizenship, and withdrawal behaviors such as absenteeism, and turnover. Further,

job satisfaction can partially mediate the relationship of personality variables and

deviant work behaviors.

One common research finding is that job satisfaction is correlated with life

satisfaction. This correlation is reciprocal, meaning people who are satisfied with life

tend to be satisfied with their job and people who are satisfied with their job tend to

be satisfied with life. However, some research has found that job satisfaction is not

significantly related to life satisfaction when other variables such as nonwork

satisfaction and core self-evaluations are taken into account.

An important finding for organizations to note is that job satisfaction has a rather

tenuous correlation to productivity on the job. This is a vital piece of information to

researchers and businesses, as the idea that satisfaction and job performance are

directly related to one another is often cited in the media and in some non-academic

management literature. A recent meta-analysis found surprisingly low correlations

between job satisfaction and performance. Further, the meta-analysis found that the

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relationship between satisfaction and performance can be moderated by job

complexity, such that for high-complexity jobs the correlation between satisfaction

and performance is higher than for jobs of low to moderate complexity. Additionally,

one longitudinal study indicated that among work attitudes, job satisfaction is a

strong predictor of absenteeism, suggesting that increasing job satisfaction and

organizational commitment are potentially good strategies for reducing absenteeism

and turnover intentions. Recent research has also shown that intention to quit alone

can have negative effects on performance, organizational deviance, and

organizational citizenship behaviours. In short, the relationship of satisfaction to

productivity is not as straightforward as often assumed and can be influenced by a

number of different work-related constructs, and the notion that “a happy worker is a

productive worker” should not be the foundation of organizational decision-making.

For example, employee personality may even be more important than job

satisfaction in regards to performance.

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CHAPTER – V

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5.1 RESEARCH METHODOLOGY

5.1.1 RESEARCH DESIGN

The research was carried out in the time span of 4 weeks at the Circle Office of

PNB, Ranchi, Jharkhand. Out of the 30 employees working at the office, 20 were

administered a questionnaire which contained questions regarding the basic

questions which were important from the point of view of knowing and interpreting

the perceptions and attitudes the employees had with regard to the organization.

Each respondent was given the time of 4-5 days for filling up the questionnaire. They

were also questioned about the challenges that they faced and the opportunities that

they get. The research design for my research work was exploratory. The data was

analyzed using statistical tools such as tables, bar graph and pie charts.

5.1.2 DATA COLLECTION TOOLS

In the preparation of this report, the data was collected from different sources. The

sources of data are as follows:

Primary data: This data was gathered from first hand information sources by the

researcher. This data was collected from employees of different posts by

administrating the questionnaire and having face to face interaction with them.

Secondary data: This gave the theoretical basis required for the report

presentation which was available from various sources such as annual reports,

manuals, brochures and publications of the organization.

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Face to Face Interviews:

This was one of the major sources of data collection of the research carried out. It

proved to be quite advantageous as the sample size was small i.e. 20 employees. It

was also not very time taking to interview each of them 20 employees. I found

myself very actively involved in the interview. Since the respondents were physically

involved, chances of non answering were almost eliminated. This was one of the

most valid and authentic method of data collection. However, in some cases the time

taken was too high which proved to be disadvantageous.

Questionnaires:

Each respondent was given a questionnaire which contained questions on different

aspects of their job. Some questions were based on how they feel in carrying out the

tasks given to them, the relationship with their team, their superiors and

subordinates and what shortcomings and challenges they faced in their jobs. The

basic information of each employee was also taken i.e. the post, age and number of

years of spent in the job etc. The questionnaire contained questions on background

information, scaled questions and open ended questions where the respondent was

free to express his thoughts. The responses were later analyzed so as to draw a

proper conclusion for the population from the sample of employees surveyed.

5.1.3 DATA ANALYSIS TOOLS:

Data, which was gathered by administering questionnaires, was processed in a

simple manner to determine the level of satisfaction among employees. Every

response was analyzed carefully and the overall satisfaction level was determined.

Data collected was carefully tabulated and analyzed by making use of different

statistical tools such as the tabular chart, pie chart and bar graph.

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CHAPTER – VI

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6.1 ANALYSIS AND FINDINGS

1. Overall how satisfied are you working for the company?

Attributes Number PercentageExtremely Dissatisfied 0 0Very Dissatisfied 5 25Somewhat Dissatisfied 5 25Neutral 6 30Somewhat Satisfied 4 20Extremely Satisfied 0 0

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Interpretation:

From the above graphs, it can be inferred that 25% of the employees are very

dissatisfied, 25% are somewhat dissatisfied, and another 20% somewhat satisfied

and the rest 30% are neutral regarding the overall job satisfaction level.

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2. Is there adequate means of communication from employees to manager across the company?

Attributes Number of Response Percentage of Response

Extremely Dissatisfied 0 0Very Dissatisfied 8 40Somewhat Dissatisfied 4 20Neutral 2 10Somewhat Satisfied 6 30Extremely Satisfied 0 0

Interpretation:It can be inferred that 40% of the employees are very dissatisfied, 20% are

somewhat dissatisfied, 30% are somewhat satisfied and the remaining 10% are

neutral as far as the adequate means of communication between employees and the

manager is concerned.

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3. Is there adequate communication from manager to employee across the company?



Interpretation:From the above graph, it can be inferred that 60% of the employees are very

dissatisfied with the manager to employee communication in the company, 20% are

somewhat dissatisfied, 10% are neutral and another 10% are extremely satisfied.

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4. Do you feel yourself aligned with the company’s mission?

Attributes Number of Response Percentage of ResponseYes 12 60No 5 25May be 3 15

Interpretation:It can be inferred that 60% of the employees feel aligned with the company’s

mission, 25% don’t and 15% employees feel that they maybe aligned with the

company’s mission.

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5. Are you satisfied working with your department?



Interpretation:

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It can be inferred that for working in their respective departments, 10% are extremely

dissatisfied, 20% are very dissatisfied, another 40% are somewhat dissatisfied and

30% are somewhat satisfied.

6. My job gives me opportunity to learn.



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Interpretation:It can be inferred that 18% of the employees feel very dissatisfied about the fact that

their job gives them learning opportunities, 41% feel somewhat dissatisfied, 9% are

neutral and 32% feel somewhat satisfied.

7. I have the tools and resources, I need to do my job



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Interpretation:It can be inferred that 10% of the employees are very dissatisfied with the resources

they have to do their job, 30% are soomewhat dissatisfied, 10% are neutral and 50%

are somewhat satisfied.

8. I receive the right amount of recognition for my work.



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Interpretation:It can be inferred that 30% of the employees are very dissatisfied for the recognition

they receive for their work, 40% are somewhat dissatisfied whereas only 30% are

somewhat satisfied.

9. I feel underutilized in my Job.


Disagree Completely 0 0Strongly Disagree 4 20Somewhat Disagree 6 30Neither Agree or Disagree

8 40

Somewhat Agree 2 10Agree Completely 0 0

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Interpretation:It can be inferred from the above graph that 20% of the employees strongly disagree

to the fact that they feel underutilized in their job, 30% somewhat disagree, 40%

neither agree nor disagree and 10% somewhat agree to this.

10. My supervisor provides me with actionable suggestions on what I can do to improve.



4 20


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Interpretation:It can be inferred from the above bar graph that 20% of the employees strongly

disagree, 35% somewhat disagree, 20% neither agree nor disagree and 25%

somewhat agree to the fact that their supervisors provide them with actionable

suggestions to improve their jobs.

11. I am satisfied with my base pay.



2 10


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Interpretation:It can be inferred from the pie chart that 35% of the employees strongly disagree,

40% somewhat disagree, 10% neither agree nor disagree and only 15% somewhat

agree that they are satisfied with their base pay.

12. I am satisfied with the bonus I receive.



2 10

Somewhat Agree 2 10

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Agree Completely 0 0

Interpretation:It can be inferred from the above shown pie chart that 35% of the employees

strongly disagree, 45% somewhat disagree whereas 10% neither agree nor disagree

and yet another 10% somewhat agree that they are satisfied with the bonus that

they receive.

13. I am satisfied with the vacation plan I receive.


Completely Disagree 0 0Very Disagree 9 45Somewhat Disagree 5 25Neutral 1 10Somewhat Satisfied 2 10

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Very Satisfied 1 5Completely Satisfied 0 0

Interpretation: It can be seen that 11% are completely dissatisfied, 50% are very dissatisfied, 28%

somewhat dissatisfied, 5% neutral, 11% somewhat satisfied and only 6% are very

satisfied with the vacation plans they receive.

14. I am satisfied with the process to determine Promotion.


Completely Satisfied 0 0Very Satisfied 2 10Somewhat Satisfied 2 10

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Neutral 0 0Somewhat Disagree 9 45Very Disagree 7 35Completely Disagree 0 0

Interpretation:It can be inferred that 10% are very satisfied, 10% are somewhat satisfied, 45% are

somewhat dissatisfied and 35% are very dissatisfied with the promotion process

used in the company.

15. I am satisfied with the other benefits offered by the company.


Completely Disagree 0 0Very Disagree 7 35Somewhat Disagree 10 50Neutral 0 0

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Somewhat Satisfied 2 10Very Satisfied 1 5Completely Satisfied 0 0

Interpretation:It can be seen that 35% are very dissatisfied, 50% are somewhat dissatisfied, 10%

are somewhat satisfied whereas only 5% are very satisfied with the other benefits

that they receive at the company.

16. I am satisfied with my possibilities for future career progression at the Company.


Completely Disagree 0 0Very Disagree 7 35

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Somewhat Disagree 8 40Neutral 0 0Somewhat Satisfied 1 5Very Satisfied 4 20Completely Satisfied 0 0

Interpretation:

Regarding their possibilities for future career growth, 20% of the employees are very

satisfied, 5% somewhat satisfied, 40% somewhat dissatisfied and 35% are very

dissatisfied.

BACKGROUND DETAILS

Age: In Years Number of Respondents Percentage of

Respondents

18-29 4 20%

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30-39 4 20%

40-55 12 60%

55+ - -

Gender:

Number of Respondents Percentage of Respondents

Male 16 80%

Female 4 20%

Number of years spent in the organization:

Number of Respondents Percentage of Respondents

Less than 1 year - -

1-3 years 8 40%

4-6 years - -

6 years 12 60%

6.2 LIMITATIONS OF THE STUDY:

Limitations are influences that the researcher cannot control. They are the

shortcomings, conditions or influences that cannot be controlled by the researcher

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that place restrictions on the methodology and conclusions. Any limitations that

influenced the results are as follows:

The time period of the study was limited to 4 weeks only.

Some employees were reluctant to answer to the questions.

Some of the employees did not respond to the open ended questions of the

questionnaire.

The sample size was restricted to 20.

Some of the responses of the questionnaire were illegible.

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CHAPTER VII

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7.1 SUGGESTIONS The company should try to understand the problems that the employees are facing

and try to find solution to the same so that no employee is dissatisfied with the

company.

The management should try to improve the communications between the superiors

and subordinates in the company so that it can help them to work together in an

effective and efficient manner.

Some employees don’t feel that they are aligned with the company’s mission; the

company to try to understand the reasons for the same and help the employees

accordingly.

The employees should be given that department to work in, in which they find their

skills properly channeled and become more productive as a result.

Enough learning opportunities should be given to employees such as training

programs so that they become more productive.

Employees should be provided with the proper resources that are needed to carry

out the tasks.

Employees should get proper recognition for their work and they should not feel

underutilized in their jobs.

Employees should be compensated properly and adequately and the bonus and

other benefits should be given to them at regular intervals to retain them in the

organization and keep them satisfied.

The employees should get progression in their job keeping their future career

prospects in mind.

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CHAPTER VIII

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8.1 CONCLUSION

All the statutory and non – statutory measures are provided to employees as per the

standard measures, which improve employee satisfaction and increase productivity.

Any organization’s success and growth depends on its employees. The company

may have rich resources of capital, material, infrastructure, machines and

technology but if the quality of manpower is not good, the organization cannot

succeed. Employee welfare plays a vital role in every organization and the quality

and productivity of manpower depends on the welfare measures provided by the

organization to keep its employees satisfied.

By conducting this study, I have acquired an in-depth knowledge about employee

satisfaction and how the working environment and welfare programs contribute

towards the organization’s success. I would further like to conduct a study on

employee welfare if I get an opportunity. This study would be very helpful for my

career in the HR field.

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BIBLIOGRAPGHY

1. Ashwathappa K, Human Resource Management, 2nd Edition, Tata McGraw

Hill Publications, 2009.

2. Tripathi, Personnel Management & Industrial Relations, 22nd Edition, Sultan

Chand and Sons, 2013.

3. P. Subba Rao, Essentials of HRM and Industrial Relations, 5/e Edition,

Himalaya Publishing House, 2013.

4. Punjab National Bank - https://en.wikipedia.org/wiki/Punjab_National_Bank

5. Official Website of Punjab National Bank - www.pnbindia.in

6. What is Job Satisfaction - https://en.wikipedia.org/wiki/Job_satisfaction

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ANNEXURE

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QUESTIONNAIRE

Gathering information on employee satisfaction, this survey focuses on how

employees feel about their job description, position within the company, relationships

with colleagues and superiors, advancement opportunities, and overall satisfaction.

This survey asks questions about your experience working for The Company. It

starts and ends with some questions about your satisfaction with various aspects of

work and contains other questions about how you think and feel about The

Company. Thank you for sharing your opinions.

1. Overall, how satisfied are you working for The Company?

Extremely Dissatisfied

Very Dissatisfied

Somewhat Dissatisfied

Neutral

Somewhat Satisfied

Extremely Satisfied

2. To what extent do you agree with the following statement: I would recommend this company as a good place to work.

Disagree Completely

Strongly Disagree

Somewhat Disagree

Somewhat Agree

Strongly Agree

Agree Completely

3. What I like best about working for The Company is...

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4. Things that The Company should do to make it a better workplace are...

5. Please indicate the extent to which you agree with the following statements.

(a) The Company clearly conveys its mission to its employees.

(b) The Company clearly conveys the mission to its clients.

(c) I agree with The Company's overall mission.

(d) I understand how my job aligns with The Company's mission.

(e) I feel like I am a part of The Company.

(f) There is good communication from employees to managers in The Company.

(g) There is good communication from managers to employees in The Company.

5. Overall, how satisfied are you working in your department?

Extremely Dissatisfied

Very Dissatisfied

Somewhat Dissatisfied

Neutral

Somewhat Satisfied

Extremely Satisfied

7. What I like best about working in my department is...

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8. Things that my department should do to make it a better place to work are...

9. Please indicate the extent to which you agree with the following statements:

(a) My job gives me the opportunity to learn.

(b) I have the tools and resources I need to do my job.

(c) I have the training I need to do my job.

(d) I receive the right amount of recognition for my work.

(e) I am aware of the advancement opportunities that exist in The Company for me.

(f) I feel underutilized in my job.

(g) The amount of work expected of me is reasonable.

(h) It is easy to get along with my colleagues.

(i) The morale in my department is high.

(j) People in my department communicate sufficiently with one another.

10. Which of the above factors most strongly affects your satisfaction with your

work? Why?

11. Please indicate the extent to which you agree with the following statements:

(a) Overall, my supervisor does a good job.

(b) My supervisor actively listens to my suggestions.

(c) My supervisor enables me to perform at my best.

(d) My supervisor promotes an atmosphere of teamwork.

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(e) It is clear to me what my supervisor expects of me regarding my job

performance.

(f) My supervisor evaluates my work performance on a regular basis.

(g) My supervisor provides me with actionable suggestions on what I can do to

improve.

(h) When I have questions or concerns, my supervisor is able to address them.

12. What else about your supervisor affects your job satisfaction?

13. How satisfied are you with...

(a) your base pay?

(b) your bonus?

(c) your career progression at The Company thus far?

(d) your possibilities for future career progression at The Company?

(e) the vacation time you receive?

(f) the retirement plan?

(g) your medical insurance?

(h) other benefits offered by The Company?

(i) the process used to determine annual raises?

(j) your annual raise?

(k) the process used to determine promotions?

14. What other aspects of your job significantly affect your overall job satisfaction?

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15. What is your current position?

Position 1

Position 2

Position 3

Position 4

Position 5

17. In which department do you work?

Department 1

Department 2

Department 3

Department 4

Department 5

18. How many years have you been with The Company?

Less than a year 1 - 3 years

4 - 6 years

More than six years

19. What is your primary work location?

Location 1

Location 2

Location 3

Location 4

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Location 5

20. What is your gender?

Male

Female

21. What is your age?

18 – 29

30 - 39

40 – 55

55+ years

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Documents

Employee Satisfaction Project Final