View
2
Download
0
Category
Preview:
Citation preview
Page 1 of 26
“AN EMPIRICAL STUDY TO DETERMINE FACTORS AT WORKPLACESTRESS IN FINANCIAL SECTOR (WITH SPECIAL REFERENCE TO
AHMEDABAD DISTRICT)"
PhD Synopsis
Submitted to
Gujarat Technological University, Ahmedabad
For the Degree of
Doctor of Philosophy
In
Management
By
Hiral Borikar
Enrollment No: 159997292006
Supervisor:
Dr. Viral Bhatt, Principal, SAL Institute of Management, Ahmedabad
Doctoral Progress Committee Members:
Dr. S.O.Junare Dr. Dipti Sethi
Director Professor
Gujarat Forensic Science University Indus University
Gandhinagar Rancharda
Page 2 of 26
Index
Sr.No.
Title Page No.
1 Abstract 032 Brief Description 043 Definition of Problem 074 Objective and scope of work 075 Research Hypothesis 086 Methodology of Research and Result 107 Recommendations with respect to objectives 218 Conclusion 229 References 2310 Annexure -1 Copy of Published Research Papers 27
Page 3 of 26
“AN EMPIRICAL STUDY TO DETERMINE FACTORS AT WORKPLACESTRESS IN FINANCIAL SECTOR (WITH SPECIAL REFERENCE TO
AHMEDABAD DISTRICT)"
1. Abstract
Stress has nowadays become a worldwide crisis, which is affecting the people working in
almost every sector of the economy. It not only affects physical and mental health of
employees, but also reduces the competitiveness and productivity of the organization.
Financial Industry is one of the most stressful sectors.
Pressure at the workplace is unavoidable due to the demands of the contemporary work
environment. Pressure perceived as acceptable by an individual, may even keep employees
alert, motivated, able to work and learn, depending on the available resources and personal
characteristics. But when that pressure becomes excessive or otherwise unmanageable it
leads to stress. Stress can damage an employees' health and the business performance.
Major causes of workplace stress includes job content (monotony, under-stimulation,
meaningless of tasks, lack of variety, etc) - work load and work pace (too much or too
little to do, work under time pressure, etc.) - working hours (strict or inflexible, long and
unsocial, unpredictable, badly designed shift systems) - Participation and control (lack of
participation in decision-making, lack of control over work processes, pace, hours,
methods, and the work environment)
The major factor affecting workplace stress includes career development, status and pay
(job insecurity, lack of promotion opportunities, under- or over-promotion, work of 'low
social value', piece rate payment schemes, unclear or unfair performance evaluation
systems, being over- or under-skilled for a job) - role in the organization (unclear role,
conflicting roles) - interpersonal relationships (inadequate, inconsiderate or unsupportive
supervision, poor relationships with colleagues, bullying/harassment and violence,
isolated or solitary work, etc) -organizational culture (poor communication, poor
leadership, lack of behavioral rule, lack of clarity about organizational objectives,
structures and strategies) - work-life balance (conflicting demands of work and home,
lack of support for domestic problems at work, lack of support for work problems at
home, lack of organizational rules and policies to support work-life balance)
Page 4 of 26
Present study focuses on quantitative approach and descriptive research design. Initially, a
sample of 1100 responded was shortlisted but after the data cleaning process, 1057 valid
Reponses were used for analysis and testing model. Exploratory factor analysis of responses
extracted eight factors /working Hours, Workload / Role conflict /Role Ambiguity, Work
Environment / Work Culture, Policies, Appraisal and Pay System, Work life balance.
Confirmatory factor analysis provides strong support for the structure of various factors of
workplace stress.
A Confirmatory factor analysis helps to validity assessment of various measures used in the
study. SmartPLS is a software with graphical user interface for variance-based structural
equation modeling (SEM) using the partial least squares (PLS) path modeling method.
Partial Least Squares (PLS) is an approach to Structural Equation Models (SEM) that allows
researchers to analyze the relationships simultaneously. It is interesting to compare and
contrast this approach in analyzing mediation relationships with the regression analysis.
2. Brief Descriptions:
The father of stress theory Dr. Hans Selye (1956) defined stress as a general reaction of
body to any demand mode upon it. These demands are known as ‘stressors’ and can be
either pleasant or
unpleasant situations or factors.
Normally, when we have a lot of work to do and we are not able to complete the work, we
experience a sense of anxiety, unfulfillment, dissatisfaction and worry. This affects our
psychological and mental state and ultimately the capacity to perform. When the demands
on a person from the environment are more and his output is less, because of failure he
suffers from anxiety and stress. But a person, who on the contrary fails to do so, is said to
have an unsound personality and is affected frequently by stress etc.; sometimes job
conditions, socioenvironmental factors may also contribute significantly to organizational
stress. The employees of various organizations have to spend their time under heavy
pressure of c o n f l i c t i n g demands a n d work situations. They p e r f o r m c r i t i c a l
managerial functions under very compelling situations.
Azad, Tilottama(2014), conducted a casual research in the banks of Bhopal in which he
defined various variables such as long working hours, improper reward system, lack of job
autonomy, organizational culture, role conflict , lack of management support that lead to
stress in the banking sector. In his study, he analyzed the effect of one variable over another.
Page 5 of 26
The aim of his study was to study the cause effect relationship between all these factors on
the health and life of an individual. He concluded that management should take initiatives
and stress management programmes should be started to minimize stress in the banks.
(Dhankar, June 2015) The author had investigated the occupational stress level among
employees of banking sector. There is not a single factor which determines the stress in
banking employees’. Factors like work overload, ambiguity, pressure, confliction etc. are
responsible for stress. Occupational stress has become leading feature of modern life. It has
wide-ranging effects on employees’ behavior and adjustments as well as off the job. A
substantial portion of organization research involves the study of stress among employees.
A large number of problem related to employee health, declining levels of productivity and
competence is related to occupational stress. Minimizing occupational stress in the coming
time would be part of company policy of the organizations and be seen as an imperative
strategy to target better employee satisfaction.
Sankpal, Negi, Vashishtha (2010) The study was conducted in Gwalior city and a sample of
100 bank employees is used for data collection 50 each from public and sector. The
objectives of the study were to compare organizational role stress of managers in public and
private banks and to open new vistas for further research. The study was exploratory in
nature. Survey method was used to complete the study. It was found that the private bank
employees experienced higher organizational role stress than their public bank counterparts.
Looking at the various aspects of components of organizational role stress, it was found that
there was no difference between the Public and Private Sector bank employees in certain
aspects like role expectation conflict, role isolation, and personal inadequacy and role
ambiguity.
Kumar, Sundararan and Mahendran in their study “Complication Faced by Women
Executives in New Generation Private Sector Banks in Pondicherry State”, found that there
are certain problems faced by women executives for their professional duties like heavy
workload, physical strain, the pain of dealing with illiterate customers, difficulties
experienced in getting work done from the male subordinates and lack of time to attend to
the needs of family members, etc. If these problems are overcome than there is a smooth
professional journey of women executives.
The significance differences in the factors causing stress like workload, time pressure, work
culture and threat of unemployment were reported using a comparative study between
Page 6 of 26
HDFC and SBI bank employees (Poonam Negi 2013). A comparative study on
organizational role stress among public and private sector employees revealed no significant
difference in overall between public and private sector employees in terms of total stress
levels, certain individual stressor. This study further reported that the impact of various
socio-demographic factors on stress level reveals that educational qualifications and work
experience have a significant impact on employees’ stress levels (Bushara Bano and Rajiv
Kumar Jha 2012).
Rajeshwari (1992) identified the potent stress situations (stimulus) of bank employees and
then classified them into factors relating to organizational policy, structure, process,
physical working conditions, group behavior and others. T concluded that structural rigidity,
poor physical working conditions and extra organizational factors to be potent stressors.
Dobbins, G.H. , Cardy, R.L.& Truxillo, D.M. (1989). ‘The effects of purpose of appraisal
and individual differences in stereotypes of women on sex differences in performance
ratings: A laboratory and field study’. Journal of Applied Psychology Vol 73 pp 551-558. -
several extensive reviews have supported the notion that males receive better reviews than
females do. Specifically, it was found that raters with traditional sterotypes of women
evaluate the performance of female rates less favourably and that these behaviours occurred
when the purpose of the appraisal was administrative, that is, when dealing with pay,
promotions, transfers and retrenchments. Thus it could be argued that, for females, the
performance appraisal is a more stressful event that for males. For the purposes of this
study, though, it should be noted that the literature does not give unequivocal support for
such gender differences under stressful circumstances.
Hayers, N. (2000) Leadership: Foundation of psychology. New Jersey: Thomson Press,
509-512. - found that The effectiveness of group leaders is dependent on the criterion
which was being used to assess leadership. Thus, if leadership is assessed in terms of
productivity, then autocratic style is most efficient but if the role is seen as maintaining
good morale and a steady level of work, democratic style is effective. Absence of leadership
style brings about lack of direction from the leader resulting in low morale and lack of
interest in the work. Employees who fell under pressure reported autocratic supervision on
the part of their leaders. The leaders rarely allowed them to participate in the decision
Page 7 of 26
making. It was also reported that workers who were under stress also reported harsh
supervision and control on the part of their leaders
Dr. P.Kannan &Suma.U (2015)5 in order to manage stress the organization has to
encourage employee development and embark on training interventions for employees.
Training specifically related to policies and policy implementation is a key priority. Stress
in banking sector is mostly due to excess of work pressure and work life imbalance the
organization should support and encourage taking up roles that help them to balance work
and family
3. Definition of the Problem:
Stress is broadly defined as a reaction to too much pressure or too many demands. It can
arise both at home and at work. However, there is no question that stress in the workplace is
a major issue both for individuals and for organisations. Actually, it can lead to both
physical and mental health problems for individuals, and significant losses for organisations
through sickness absence. In this research, researcher has identified different factors
affecting workplace stress like Work Load, Workload / Role conflict / role ambiguity ,
Work Environment / work culture , Policies , Appraisal and pay system and work life
balance in senior personnel like Manager and above level of personnel in financial services
like Bank, NBFC, Mutual fund, Stock Broking agency and Insurance. Where researcher has
identified to estimate the level of stress.
4. Objectives and Scope of work
Primary Objective
To determine factors at workplace stress in financial sector with special reference to
Ahmedabad District
Secondary Objectives
To understand and analyzed the basic mechanism of Financial Services
To evaluate Factors influencing of stress at higher level and to understand its intra-
relationships in financial services
To measure the impact of stress in personal and professional life of higher level
manager in financial services
To Explore the remedies to reduce the stress in financial Services
Page 8 of 26
To estimate stress level of employees of Manager and above in financial services
5. Research Hypothesis
Hypothesis of Independent Sample T Test:
H6a: There is significant difference between male and female regarding workload
H6b: There is significant difference between male and female regarding Role Ambiguity
H6c: There is significant difference between male and female regarding overall
Management structure
H6d: There is significant difference between male and female regarding work life balance
H6e: There is significant difference between male and female regarding Review (Appraisal
and pay system)
H6f: There is significant difference between male and female regarding Organization
structure
H6g: There is significant difference between male and female regarding Role Ambiguity
H6h: There is significant difference between male and female regarding Leadership
Hypothesis of One Way ANOVA Analysis:
H7a: There is significant difference among age and workplace stress in senior personnel of
financial services
H7a: There is significant difference among total experience and workplace stress in senior
personnel of financial services
H7a: There is significant difference among designation and workplace stress in senior
personnel of financial services
H7a: There is significant difference among income and workplace stress in senior personnel
of financial services
Smart PLS - Bootstrapping - Specific Indirect Effect
H1: There is significant impact of Leadership on organization Policies and work Culture for
workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership on work Culture and work Environment for
workplace stress in Manager and above in financial services
H1: There is significant impact of organization Policies on work Culture and work
Environment for workplace stress in Manager and above in financial services
Page 9 of 26
H1: There is significant impact of leadership on organization Policies, work Culture and
work Environment for workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership On work Culture, work Enviornment, Work-
Load, overall stress for workplace stress in Manager and above in financial services
H1: There is significant impact of work Enviornment on Work-Load and overall stress for
workplace stress in Manager and above in financial services
H1: There is significant impact of work Culture on work Enviornment, Work-Load and
overall stress for workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership on organisation Policies, work Culture, work
Enviornment and Work-Load, overall stress for workplace stress in Manager and above in
financial services
H1: There is significant impact of Role-Amibiguty on Work-Load and overall stress for
workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership on Role-Amibiguty, Work-Load, and overall
stress for workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership on work Culture, work Enviornment and
Work-Load for workplace stress in Manager and above in financial services
H1: There is significant impact of work Culture on work Enviornment and Work-Load for
workplace stress in Manager and above in financial services
H1: There is significant impact of Policies on work Culture, work Enviornment and Work-
Load for workplace stress in Manager and above in financial services
H1: There is significant impact of Leadership on organization Policies, work Culture, work
Enviornment and Work-Load for workplace stress in Manager and above in financial
services
H1: There is significant impact of Leadership on Role-Amibiguty and Work-Load for
workplace stress in Manager and above in financial services
Boot Strapping – Total effect :
H1: There is significant impact of work culture on work environment for workplace stress
in Manager and above in financial services
H1: There is significant impact of work culture on overall stress for workplace stress in
Manager and above in financial services
H1: There is significant impact of work culture on Workload for workplace stress in
Manager and above in financial services
Page 10 of 26
H1: There is significant impact of Environment on Overall for workplace stress in Manager
and above in financial services
H1: There is significant impact of work Environment on Workload for workplace stress in
Manager and above in financial services
H1: There is significant impact of Leadership on work Culture for workplace stress in
Manager and above in financial services
H1: There is significant impact of Leadership on work Environment for workplace stress in
Manager and above in financial services
H1: There is significant impact of Leadership on Overall stress for workplace stress in
Manager and above in financial services
H1: There is significant impact of Leadership on organization Policies for workplace stress
in Manager and above in financial services
H1: There is significant impact of Leadership on Role Ambiguity for workplace stress in
Manager and above in financial services
H1: There is significant impact of Leadership on Workload for workplace stress in Manager
and above in financial services
H1: There is significant impact of Policy and work Culture for workplace stress in Manager
and above in financial services
H1: There is significant impact of organization Policy and work Environment for workplace
stress in Manager and above in financial services
6. Methodology and Research Result:
Research approach and Design:
A good research should have a perfect blend of the theory and the practical learning.
Research design is a blue print of any research project. The research design is a detailed
outline to direct the study towards achievement of the research objectives and involves
decisions on research process and data collection methods used (Aaker et al, 2001). It
basically is the conceptual structure of the research within which the entire research work is
to be carried out.
Here, the research about to identify the factors influencing workplace stress in financial
sector and estimate stress level. Answer to this question has been detailed in the Objectives
section of this chapter.
Page 11 of 26
There are many studies has been done in past by different researcher to determine
workplace stress in different financial service but in this study it is precise to determine
workplace stress for Manager and above level of employees of financial services of Bank,
NBFC, Insurance, Mutual fund and stock market.
Employees’ suffers from Workplace stress in regular professional life; hence it is not
possible to identify correct timings for studies on these aspects.
Under the current study Ahmedabad District is selected to carry out the research activity.
Ahmedabad District has been covered by different banks, NBFCs, Mutual funds, Stock
markets and insurance companies. It gives major shares in terms of business for Gujarat and
also for west zone of India.
Hence in this research senior level of employees i.e. Manager and above level of employees
are selected because many studies have been done on workers and on junior level of
employees even also occupational stress and act is available to protect such level of
manpower but for senior employees who are having majorly intellectual work need to
required to quantify their stress have been selected as the target respondents.
Here, the study have covered Financial Services i.e 1) Banks, 2) NBFCs, 3) Insurance, 4)
Stock Market, 5) Mutual funds.
For collection of primary data questionnaire has been very carefully structured after a
thorough review of available literature. Pilot study has been conducted to understand
respondents’ understanding of the questions and the questions have been modified wherever
required.
Secondary data is collected from relevant literature i.e. research papers, articles, reports,
web-sites etc. Details of the same are presented in the Chapter – II: Literature review.
Target Population:
The target population for the present study includes Manager and above level of
employees from Banks, NBFCs, Insurance, Stock Market, Mutual funds with minimum
Qualifications with Graduate, minimum 7 years of experience in the field of Sales, Credit,
Risk, Recovery, multiple area and must be in this services for minimum 5 years.[
Page 12 of 26
Sampling Techniques: Probability or Non-probability Sampling
There are major two categories of sampling techniques namely Probability sampling and
Nonprobability sampling. These two categories differentiate themselves on the grounds of
the selection process. Selection of the category depends upon the nature of population i.e.
finite or infinite and types of research.
Sample Size:
Initially sample of 1100 respondents were shortlisted but after data cleaning process 1057
valid responses gathered from respondents where used for analysis for this study. In this
study researcher used seven point likert scale [1 - Strongly disagree (SD), 2 - Disagree (D),
3 - Somewhat Disagree (SWD) , 4 - Neutral (N), 5 - Somewhat agree (SWA), 6 - Agree (A),
7 - Strongly Agree (SA)]
Data Analysis:
The data collected through questionnaire was analyzed using the SPSS 25 and Smart PLS
software. The data will be analyzed using Frequency distribution and Graphical Analysis;
Multivariate Cross tabulation; Descriptive statistics; Inferential Statistics – T-test, ANOVA,
MANOVA; Relationship Analysis – Pearson’s Coefficients Correlations, Stepwise
Regression and Discriminant Analysis.
Sampling Adequacy:
The KMO measure of sampling adequacy is a statistic that indicates the proportion of
variance in the variables that might be caused by the reduced factors. The high value of
KMO (0.930) indicates that a factor analysis is quite useful for the data being used in this
study.
Table: 5.15 KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling Adequacy. .930
Bartlett's Test of Sphericity Approx. Chi-Square 51879.617
df 820
Sig. .000
Page 13 of 26
The determinant of the Correlation Matrix is 0.001 that is higher than the 0.00001 and hence
no multicollinearity is observed in the data.
One Way ANOVA Analysis:
The objective was to understand whether the demographic variables such as Gender, age,
qualifications, experience in field, in area, designation, tenure, income, marital status, type
of family and number of persons in family influences on workplace stress in financial
services.
Certain demographic factors like age, annual income, designation, designation etc; having
more than two categories have been identified with help of literature review for this study.
Hence, independent two sample tests cannot be utilized. In this scenario one way ANOVA
analysis helps to derive the inferential statistical values among these categories.
(A)ANOVA: Age * workplace stress
Combined impact of all the factors on the age group of less than 40 years significantly
differs
from the same on the age groups of 41 to 50 years and more than 50 years. Same way
combined impact of all the factors on age group of 41 to 50 years significantly differs from
the same on the age group of more than 50 years. When we check the combined impact of
all the factors on age group 41 to 50 years, it significantly differ from the same on the age
groups less than 40 years.
(B)ANOVA: Total experience * workplace stress
Impact of workplace stress on the total experience of less than 7 years significantly differs
from the same on the experience groups of 7 to 12 years and more than 12 years. Same way
impact of workplace stress on total experience group of 7 to 12 years significantly differs
from the same on the age groups of less than 7 years and more than 12 years. When we
check the impact of workplace stress on total experience group of more than 12 years, it
significantly differ from the same on all the other age groups i.e. less than 7 years and 7 to
12 years.
(C)ANOVA: Designation * workplace stress
Impact of workplace stress on the designation of manager significantly differs from the
same on the designation groups of manager to vp and more than vp and above. Same way
impact of workplace stress on designation of manager to vp group, significantly differs from
the same on the designation groups of manager and vp. When we check the impact of
Page 14 of 26
workplace stress on designation group of vp and above, it significantly differ from the same
on all the other designation groups i.e. manager and manager to vp.less than 7 years and 7 to
12 years.
(D)ANOVA: Income * workplace stress
Impact of workplace stress on the income of Rs. Less than Rs. 50000 significantly differs
from the same on the income groups of Rs. 1 lac to 50 lac and more than 2 lacs. Same way
impact of workplace stress on income Rs. 1 lac to 1.50 lacs group, significantly differs from
the same on the income groups of less than 50 k and more than 2 lacs. When we check the
impact of workplace stress on income 2 lacs and above, it significantly differ from the same
on all the other income groups i.e. less than Rs. 50,000 and Rs. 1.50 lacs to 2 lacs.
Construct Reliability and Validity
Cronbach’s Alpha:Researcher applies the tools Cronbach’s alpha to evaluate internal consistency of opinion
given by the respondents. The general rule of thumb is that a Cronbach's alpha of 0.70 and
above is good, 0.80 and above is better, and 0.90 and above is best.
Rho A:
The rho_A function calculates the rho_A reliability indices for each construct. For
formative constructs, the index is set to 1.
Composite Reliability (sometimes called construct reliability) :
Composite Reliability is a measure of internal consistency in scale items, much like
Cronbach's alpha (Netemeyer, 2003). It can be thought of as being equal to the total amount
of true score variance relative to the total scale score variance (Brunner &Süß, 2005).
Composite reliability above the 0.70 threshold and an extracted variance above the 0.50
threshold are recommended by Hair et al. (2006). Last component of convergent validity is
Average Variance Extracted (AVE). Average Variance Extracted (AVE) is higher than 0.5
but we can accept 0.4 because Fornell and Larcker (1981) said that if AVE is less than 0.5,
but composite reliability is higher than 0.70, the convergent validity of the construct is still
adequate.
Average Variance Extracted (AVE)
AVE (Average Variance Extracted):
Page 15 of 26
Average variance extracted (AVE) is a measure of the amount of variance that is captured
by a construct in relation to the amount of variance due to measurement error. AVE is well
below the conventional threshold of 0.5. Work out the Mean (the simple average of the
numbers) then for each number: subtract the Mean and square the result (the squared
difference).
Cronbach's
Alpharho_A
Composite
Reliability
Average
Variance
Extracted
(AVE)
CULTURE 0.974 0.975 0.974 0.881
ENVIORNMENT 0.948 0.950 0.948 0.786
LEADERSHIP 0.917 0.917 0.917 0.688
OS 0.844 0.897 0.859 0.484
POLICIES 0.951 0.954 0.953 0.743
ROLE-AMIBIGUTY 0.959 0.961 0.958 0.821
WORK-LOAD 0.977 0.977 0.977 0.893
Culture:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.974 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.975 which is less than 1. Composite Reliability of culture is 0.974 which is
more than 0.70 and AVE is 0.881 these data shows validity is adequate.
Environment:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.948 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.950 which is less than 1. Composite Reliability of culture is 0.948 which is
more than 0.70 and AVE is 0.786 these data shows validity is adequate.
Leadership:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.917 considered
Page 16 of 26
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.917 which is less than 1. Composite Reliability of culture is 0.917 which is
more than 0.70 and AVE is 0.786 these data shows validity is adequate.
OS:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.844 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.897 which is less than 1. Composite Reliability of culture is 0.859 which is
more than 0.70 and AVE is 0.484 these data shows validity is adequate.
Policies:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.951 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.954 which is less than 1. Composite Reliability of culture is 0.953 which is
more than 0.70 and AVE is 0.743 these data shows validity is adequate.
Role Ambiguity:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.959 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.961 which is less than 1. Composite Reliability of culture is 0.958 which is
more than 0.70 and AVE is 0.821 these data shows validity is adequate.
Work Load:
Reliability and validity of this study reported according to the Smart-Pls algorithm.
Reliability table indicates the value of Cronbach’s alpha for Culture is 0.977 considered
desirable. It means researcher does not violate the assumption of reliability. Rho A of
culture is 0.977 which is less than 1. Composite Reliability of culture is 0.977 which is
more than 0.70 and AVE is 0.893 these data shows validity is adequate.
Discriminant Validity
Fornell-Larcker Criterion
CULTURE
ENVIORN
MENT
LEADERSHIP OS
POLICIES
ROLE-AMIBIGUTY
WORK-LOAD
Page 17 of 26
CULTURE
0.938
ENVIORNMENT
0.224 0.887
LEADERSHIP
0.562 0.29 0.829
OS 0.327 0.173 0.457 0.696POLICIES
0.496 0.16 0.651 0.567 0.862
ROLE-AMIBIGUTY
0.331 0.296 0.38 0.167 0.302 0.906
WORK-LOAD
0.425 0.301 0.512 0.795 0.522 0.26 0.945
Environment : Square root of environment is 0.887 which has greater value than the
correlations with other latent constructs and Correlation between Environment and Culture
is 0.224.
Leadership: Square root of leadership is 0.829 which has greater value than the
correlations with other latent constructs and Correlation between leadership and Culture is
0.562 where as correlation between leadership and environment is 0.290.
OS: Square root of OS is 0.696 which has greater value than the correlations with other
latent constructs and Correlation between OS and Culture is 0.327, OS and environment
0.173 where as correlation between OS and leadership is 0.457.
Policies: Square root of policies is 0.862 which has greater value than the correlations with
other latent constructs and Correlation between policies and Culture is 0.496, policies and
environment 0.160, policies and leadership 0.651 and policies and OS 0.567
Role Ambiguity: Square root of role ambiguity is 0.906 which has greater value than the
correlations with other latent constructs and Correlation between role ambiguity ad culture
is 0.331, Correlation between role ambiguity and environment 0.296, role ambiguity an
leadership 0.380, role ambiguity and OS 0.167, role ambiguity and policies 0.302.
Workload: Square root of workload is 0.945 which has greater value than the correlations
with other latent constructs and Correlation between workload and culture is 0.425,
Correlation between workload and environment 0.301, workload and leadership 0.512,
Page 18 of 26
workload and OS 0.795, workload and policies 0.522 and workload and role ambiguity is
0.260.
HeteroTrait-MonoTrait (HTMT)
Nunnally (1978) and Netemeyer et al. (2003) HTMT establishes discriminant validity in
two ways. Firstly as a criterion and second, as a statistical test. As a criterion the values of
HTMT is compared with the threshold value which is predefined. If the value of the HTMT
is below the threshold value then discriminant validity is established. The threshold value of
HTMT is debatable.
Heterotrait-Monotrait Ratio (HTMT)
CULT
URE
ENVIO
RNME
NT
LEAD
ERSHI
P
OSPOLIC
IES
ROLE-
AMIBIG
UTY
WOR
K-
LOA
D
CULTURE
ENVIORNMEN
T0.224
LEADERSHIP 0.562 0.291
OS 0.331 0.174 0.453
POLICIES 0.500 0.161 0.652 0.565
ROLE-
AMIBIGUTY0.332 0.295 0.380 0.173 0.302
WORK-LOAD 0.425 0.301 0.511 0.800 0.524 0.260
In above table all the value derived from Heterotrait-Monotrait Ratio (HTMT) for culture,
environment, leadership, OS, policies, role ambiguity and workload are less than 0.85 that
shows that researcher has not violated assumption of multicollinearity.
Smart PLS – Bootstrapping - - Hypothesis testing Path Coefficients and Confidence
Intervals
Path Coefficient: A path coefficient indicates the direct effect of a variable assumed to
be a cause on another variable assumed to be an effect. Path coefficients are standardized
because they are estimated from correlations (a path regression coefficient
is Unstandardized).
Page 19 of 26
P value test: To conduct a test of the hypothesis that > 0, at the 0.05 significance level
All Result of hypothesis testing in Path coefficient and confidence interval are below its
standard value.
Specific Indirect Effect
T
Statistics
(|O/STD
EV|)
P
Values2.5% 97.5%
LEADERSHIP -> POLICIES -> CULTURE 4.802 0.000 0.087 0.208
LEADERSHIP -> CULTURE ->
ENVIORNMENT4.536 0.000 0.056 0.131
POLICIES -> CULTURE -> ENVIORNMENT 4.444 0.000 0.028 0.073
LEADERSHIP -> POLICIES -> CULTURE ->
ENVIORNMENT4.524 0.000 0.019 0.047
LEADERSHIP -> CULTURE ->
ENVIORNMENT -> WORK-LOAD -> OS3.411 0.001 0.009 0.029
ENVIORNMENT -> WORK-LOAD -> OS 7.029 0.000 0.140 0.251
CULTURE -> ENVIORNMENT -> WORK-
LOAD -> OS4.201 0.000 0.024 0.066
POLICIES -> CULTURE -> ENVIORNMENT
-> WORK-LOAD -> OS3.523 0.000 0.005 0.016
LEADERSHIP -> POLICIES -> CULTURE ->
ENVIORNMENT -> WORK-LOAD -> OS3.624 0.000 0.003 0.010
ROLE-AMIBIGUTY -> WORK-LOAD -> OS 5.418 0.000 0.097 0.206
LEADERSHIP -> ROLE-AMIBIGUTY ->
WORK-LOAD -> OS4.224 0.000 0.033 0.086
LEADERSHIP -> CULTURE ->
ENVIORNMENT -> WORK-LOAD3.356 0.001 0.011 0.037
CULTURE -> ENVIORNMENT -> WORK-
LOAD4.125 0.000 0.030 0.083
POLICIES -> CULTURE -> ENVIORNMENT 3.496 0.001 0.006 0.020
Page 20 of 26
-> WORK-LOAD
LEADERSHIP -> POLICIES -> CULTURE ->
ENVIORNMENT -> WORK-LOAD3.609 0.000 0.004 0.013
LEADERSHIP -> ROLE-AMIBIGUTY ->
WORK-LOAD4.254 0.000 0.041 0.108
Result of all above hypothesis: the P-value (0.00) is less than the significance level (0.05),
so here researcher has reject the null hypothesis.
Stress Model
Boot Strapping – Total effect :
Interpret Results
If the sample findings are unlikely, given the null hypothesis, the researcher rejects the null
hypothesis. Typically, this involves comparing the P-value to the significance level, and
rejecting the null hypothesis when the P-value is less than the significance level. All the
result of this analysis are as per the standard value so here researcher has rejecting the null
hypothesis for all values.
Boot strapping – Path Coefficient
Page 21 of 26
In this analysis, researcher has rejected null hypothesis, where T value for all hypothesis are
more than standard value 1.96 and P value is less than significant value 0.05.
Boot Strapping – Total Indirect effect & Specific Indirect effect:
Here researcher wants to understand and derive the total indirect effect with the perspective
of impact of to direct relationship of the coefficient. Usually indirect effect is calculated
with simple multiplications of direct effect of coefficient. T value are higher than the
threshold value of 1.96 .
Smart PLS Multi group Analysis
Multi-group invariance (MGI) testing is a technique to determine whether parameters of a
measurement model and/or the structural model are equivalent (i.e. invariant) across two or
more groups (B. M. Byrne, Structural Equation Modeling with AMOS: Basic Concepts,
Applications, and Programming, Lawrence Erlbaum Associates, Mahwah, NJ, 2010.).
Parametric Test & Confidence Intervals: Outer Loading, Path Coefficient, Total
Indirect effect, Specific Indirect effect, Total Effect
Here in t Value, if it is < 1.96 then there is no difference between High qualifications and
low qualification and the value of p is significant. That indicate the both group of
respondents are having similar thought of Workplace stress in respective statement.
Whereas, t Value, is > 1.96 then there is difference between High qualifications and low
qualification and the value of p is Insignificant. That indicate the both group of respondents
are having different thought of Workplace stress in respective statement.
Boot Strapping: Outer Loading, Path Coefficient, Total Indirect effect, Specific
Indirect effect, Total Effect
In Smart PLS, Multigroup analysis, Bootstrapping of Outer loading shows difference
between coefficient of two groups of High qualification and low qualifications.
Where, p value is required to be significant i.e. 0.0000 and t values also to be significant if it
is greater than 1.96. Here, all result value as as per standard values. So here researcher are
not violating the assumption.
7. Recommendations:
High workloads, excessive working hours, lack of support from the management, lack of
authority, shortage of staff, shortage of resources, aggressive management style, insufficient
Page 22 of 26
motivation , organizational culture and policy are some of the major reasons of
the stress found in the employees in the banking sector.
In senior personnel, management should do Proper work allocation, Targets should be
realistic. Employees should be provided adequate authority and sufficient time to achieve
the targets. Sufficient hiring and allocation of staff is needed. To uplift the morale and
efficiency of employees, effective communication, proper training and motivation are
required. Appreciate the employees on accomplishing and over-exceeding their targets.
Employees friendly transfer policy should be framed, Counseling of employees should be
done on a regular basis. Employee counseling is a very good strategy to overcome employee
stress. Through counseling, employees can become aware of their strengths and how to
develop those strengths; their weaknesses and how to eliminate them; and they can develop
strategies for changing their behavior.
Workshops on stress management should be organized by the organization. Employees
should indulge in physical exercise, sports, yoga and meditation and spend time with
family. The employees should build social support. They should have close connections
with trustworthy peer who can listen to their problems and boost their confidence level. This
social network will help the employees overcome stress.
8. Conclusion:
The primary objective of this study is to find out the determine factors at workplace stress in
financial sector (with special reference to Ahmedabad district). The data analysis has been
done for the research work to achieve this objective on basis of the collected primary data.
The responses of 1057 employees of Bank, NBFC, Mutual fund, stock broking agencies and
insurance have been collected in this research.
One of the objective of this study to identify the factors affecting workplace stress in senior
personnel i.e. Manager and above level in financial organization. Factor 1: Working Hours:
Extended working hours do not give enough time to employees for leisure time, family
time, new learning or relaxation period. Factor 2: Workload / Role conflict / role ambiguity:
This factor is a creates psychological stress in employees and leads to extended working
hours, duplication of work, confusion, irritation, break in team work, trust. Factor 3: Work
Environment / work culture: These items directly give negative impact on comfort zone,
Page 23 of 26
employees are not able to complete allotted work due to unavailability of item, affected on
confidential information.
Factor 4: Policy: frequent changes in policies affects on team management, leadership
impact, pay structure, etc. Factor 5: Appraisal and pay system: These items affects on
employee motivation, incentives, designations, promotion, transfers, increment. Factor 6:
Work life balance: These factors affect to individual to manage their personal life,
emotional balance, motivation etc.
Therefore Human resource managers have to make appropriate changes in different policies
like in working hours, salary structure/perks and job Analysis, Transfer policies, business
travel and timings, transparency in leadership to create highly motivating environment for
long association, productive with innovation and healthy environment in the organization.
9. References:
B.K. Muhammed Juman and M.K. Irshad, Jun 2015, An Overview of India Capital
Markets Financial Sector Legislative Reform Commission, Vol.1 p.132, India.
Ministry of Finance, Financial Sector Legislative Reform Commission, Vol. 1 p.8
Bhasin Niti (2004) “Indian Financial System: Reforms, Policies and Prospects”,
New Century Publications, New Delhi (2004), p.144-145
Barua S K,Raghunathan V and Varma Jayanth.R.(1994)”Research on the Indian
capital Market: a Review”. Indian Institute Ahamadabad, (Feb).Pp.1
Braaten Dan J., 2000, “Occupational Stress in Mental Health Counsellors”,
University of Wisconsin-Stout.
Chan, K.B., Lai, G., Ko, Y.C. & Boey, K.W.:‘Work stress among six professional
groups: The Singapore, experience’, Social Science & Medicine, 50:1415–1432.
2000, Fair- brother & Warn, 2003; Bridger et al., 2007.
Conley & Woosley, 2000; Manshor et al., 2003; Koustelios et al., 2004; Nwadiani,
2006; Chang & Lu, 2007
Costa G., 1996, “The Impact of Shift and Night Work on Health”, Applied
Ergonomics, 27(1), Pp.: 9-1
Christian M. Ringle, Marko Sarstedt, Jörg Henseler, Article · January 2011, Multi-
Group Analysis in Partial Least Squares (PLS) Path Modeling: Alternative Methods
and Empirical Results, researchgate
Page 24 of 26
Dr. Amitkumar S. Mehta, N. C. Bodiwala, Nov 2014, Indian Financial system: At a
Glance
Dr. Mamta Ratti, Oct,2012, Indian Financial System & Indian Banking Sector: A
Descriptive Research Study
Deepak R Raste,‟‟ Capital Market in India: Reforms and Regulations”, New
Century Publicaition, New Delhi, Pp. 5-10(july2011), ISBN:817 7082868
Edwards and Burnard P., 2003, “A Systematic Review of Stress and Stress
Management Interventions for Mental Health Nurses”), Journal of Advanced
Nursing, 42, Pp.: 169-200
EdwardsD., HanniganB., Fothergill A.and BurnardP., 2002 “Stress Management for
Mental Health Professions: A Review of Effective Techniques”, Society for the
Investigation of Stress, Vol.: 18, Pp.: 203-215.
Israel B., House J., Schurman S., Heane C., and Mero R., 1989 “Relation of
Personal Resources, Participation, Influence, Interpersonal Relationship and Coping
Strategies to Occupational Stress, Job Strains and Health: A Multi-Variate
Analysis”, Work Stress, 3, Pp.: 169-194
Gupta Ramesh (1992a), "Development of the Capital Market in India: A Regulatory
Perspective", Working Paper No. 997, (Jan-Mar), Indian Institute of Management,
Ahmedabad.
Klára Kazár , ScienceDirect Innovation and Society 2013 Conference, IES 2013,
Elsevier, PLS Path analysis and its application for the examination of the
psychological sense of a brand community.
Ladegard Gro, 2011, “Stress Management through Workplace Coaching: The
Impact of Learning Experiences”, International Journal of Evidence based Coaching
and Monitoring, Vol.: 9, No.: 1, Pp.: 29.
Moomuang Nikom, 2005; “Stress Management and Health Promotion Behaviours in
Young Men in Tertiary Education Settings”, Thesis, Pp.: 7,162,185.
Ms Anju Bala(2013),‟‟Indian Stock market Review of Literature (TRANS Asian
Journal of Marketing &Management Research Vol.2 Issue 7,Pp.68. July 2013, ISSN
2279-0667
Panagiotis Trivellasa - Technological Educational Institute of Chalkis, Panagiotis
Reklitisa, Charalambos Platisb Department of, 2013
Page 25 of 26
Ringle, C. M., Sarstedt, M., & Mooi, E. A. (2010). Response-based segmentation
using finite mixture partial least squares: Theoretical foundations and an application
to American Customer Satisfaction Index data. Annals of Information Systems, 8,
19–49.
Ringle, C. M., Sarstedt, M., & Schlittgen, R. (2010). Finite mixture and genetic
algorithm segmentation in partial least squares path modeling: Identification of
multiple segments in a complex path model. In: A. Fink, B. Lausen, W. Seidel & A.
Ultsch (Eds.), Advances in data analysis, data handling and business intelligence
(pp. 167–176). Berlin: Springer.
Ringle, C. M., Wende, S., & Will, A. (2005). SmartPLS 2.0 (Beta). Hamburg:
SmartPLS. Retrieved from www.smartpls.de.
Ringle, C. M., Wende, S., & Will, A. (2010). Finite mixture partial least squares
analysis: Methodology and numerical examples. In: V. Esposito Vinzi, W. W. Chin,
J. Henseler & H. Wang (Eds.), Handbook of partial least squares. Concepts, methods
and applications (pp. 195–218). Berlin, Heidelberg: Springer-Verlag.
Schaufeli W. B. and Enzman D., 1998,” the burnout companion to study and
research: a critical analysis”, London: Taylor & Francis, Pp.: 143-183
Schaufeli W. B. and Enzman D., 1998,” the burnout companion to study and
research: a critical analysis”, London: Taylor & Francis, Pp.: 143-183.
Shapiro Shauna L., Schwartz Gary E. and Schwartz Ginny Schwartz, 1998, “Effects
of Mindfulness-based Stress Reduction on Medical and Premedical Students.”
Journal of Behavioural Medicine, Vol.: 21, No.: 6, 1998, Pp.: 1-20.
Sarstedt, M. (2008). A review of recent approaches for capturing heterogeneity in
partial least squares path modelling. Journal of Modelling in Management, 3(2),
140–161.
Sarstedt, M., Becker, J.-M., Ringle, C. M., & Schwaiger, M. (2011). Uncovering and
treating unobserved heterogeneity with FIMIX-PLS: Which model selection
criterion provides an appropriate number of segments? Schmalenbach Business
Review, 63(1), 34–62.
Sarstedt, M., & Ringle, C. M. (2010). Treating unobserved heterogeneity in PLS
path modelling: A comparison of FIMIX-PLS with different data analysis strategies.
Journal of Applied Statistics, 37(8), 1299–1318.
Page 26 of 26
Sarstedt, M., Schwaiger, M., & Ringle, C. M. (2009). Do we fully understand the
critical success factors of customer satisfaction with industrial goods? – Extending
Festge and
Schwaiger’s model to account for unobserved heterogeneity. Journal of Business
Market Management, 3(3), 185–206.
Tucker L, Cole G. and Freedman G., 1986, “Physical Fitness: A Buffer against
Stress”, Perpetual and Motor Skills, 63, Pp.: 955-961
Thomason J. A. and Pond S. B., 1995, “Effects on Instruction on Stress
Management Skills and Self-Management Skills among Blue Polar Employees”, in
L. R. Murphy, J. L. Hurrel, S. Sauter and G. Keita (Eds).
Williams Stephen, Cooper Cary L., 1998, “Measuring Occupational Stress:
Development of Pressure Management Indicator”, Journal of Occupational Health
Psychology, Vol.: 3, No.: 4, Pp.: 306-321
Wynne W. Chin, May 2012, Multi-Group Invariance Testing: An Illustrative
Comparison of PLS Permutation and Covariance-Based SEM Invariance Analysis,
researchgate
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22852 Published by: The Mattingley Publishing Co., Inc.
A Classification of Senior Personnel with Respect to
Psychographic and Demographic Aspect of
Workplace Stress in Financial Services
Ms. HiralBorikar, Ph.D. Research Scholar
Dr.Viral Bhatt, Ph.D. Supervisor
Gujarat Technological University
Article Info
Volume 83
Page Number: 22852 – 22875
Publication Issue:
May - June 2020
Article History
Article Received: 11 May 2020
Revised: 19 May 2020
Accepted: 29 May 2020
Publication: 12 June 2020
Abstract:
Purpose: The purpose of this research is an attempt toa classification of senior
personnel with respect to psychographic and demographic aspect of workplace stress
in financial services.
Process: This paper presented after an extensive literature study, structured
Questionnaire, data collection of 528 managers of different financial service institutes
like Bank, NBFC, Insurance, Mutual fund and stock market. Analysis was conducted
through SPSS, and cluster analysis has been performed to classify senior personnel.
Practical implications: Identified psychographic and demographic classifications of
senior officials in terms of their psychographic characteristics and relate to those
factors in terms of demographic factors like qualification and designation. These will
support HR department to make appropriate changes in organisation frame the policies
and provide appropriate treatment that will help them to retain for longer tenure.
Tools: Entire study has been evaluated with help of primary data and Cluster Analysis
like hierarchal cluster, K-means cluster perform with SPSS 25 software.
Keywords:Financial services, HR Practices, Workplace stress, HRImpact, Employee
Classification, psychometric analysis
1. INTRODUCTION
1.1 Human Resource Management
In K. Aswathappa‟s words “HRM refers to the
management of people in organizations. It
comprises of the activities, policies, and practices
involved in obtaining, developing, utilizing,
evaluating, maintaining, and retaining the
appropriate number and skill mix of employees to
accomplish the organization‟s objectives. The goal
of HRM is to maximize employees‟ contributions
in order to achieve optimal productivity and
effectiveness, while simultaneously attaining
individual objectives (such as having a challenging
job and obtaining recognition), and societal
objectives (such as legal compliance and
demonstrating social responsibility)”.
Likewise, Minbaeva (2005) viewed HRM practices
as a set of practices used by organization to manage
human resource through facilitating the
development of competencies that are firm specific,
produce complex social relation and generate
organization knowledge to sustain competitive
advantage. Against this backdrop, we concluded
that HRM practices relate to specific practices,
formal policies, and philosophies that are designed
to attract, develop, motivate, and retain employees
who ensure the effective functioning and survival
of the organization.
1.1.1 HR Practices include:
HR Planning, Recruitment and Selection,
Induction, Training and Development, Performance
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22853 Published by: The Mattingley Publishing Co., Inc.
Appraisal, Career Planning, Fringe Benefits,
Reward and Recognition, Welfare Activities as per
Statutory Requirement, Safety, Health and
Environment Policy, Suggestions Scheme,
Promotion and Transfers, Exit Policy.
1.2 Stress:
Stress is a natural, physical and mental reaction to
both good and bad experiences that can be beneficial
to health and safety. (Akinboye, J.O 2002) stress in
small doses, can help to meet daily challenges and
motivate to individuals to reach to the goals and
accomplish task more efficiently and work like a
memory booster.
A research conducted by SHRM (Society of Human
Resource Management) India in 2016 highlighted
that disrespect at the workplace, lack of work-life
balance, over time, inability to process constructive
feedback from the manager, support from manager
and participation avoidance are the major causes of
stress at workplace.
In such a scenario, stress management as a discipline
has become an integral part of Human Resource
Management.
Stress has been defined in many ways related to the
different situation in one's life under different
circumstances, but the most relatable definition of
stress is a feeling when work demands, work-life
balance, and tension in relationships, exceed the
resource potential.
The tension that arises in any of the three domains -
personal, social, and financial leads to stress. If
stress is not managed in time, it may cause
depression and notably bring health ailments.
Over the period of time, stress has become a major
part of human life because the sources of stress
aren't obvious and also the daily work-life situation
demands resolution only by the affected one.
At the workplace, anyone can experience stress
under different circumstances as everyone has
different mental ability and stress handling capacity.
The SHRM study also revealed that 80 per cent of
employees in India are suffering from stress at the
workplace, every 1 out of 2 employees suffer from
anxiety and depression on a varied basis. This is true
that everyone cannot fit in a single parameter when it
comes to stress management. That's a reason, it is
the responsibility of the HR to handle the situation
skillfully and help employees to manage stress.
(Article, Indiatoday, Jan, 2019)
When work demands exceed the capacity and
capability of an individual, it leads to stress in the
workplace. In cases, where companies load
employees with an excess of work without weighing
them on the scales of efficiency and capacity, lack of
work-life balance, and disrespect at the workplace
are the most common causes of stress in the
corporate
Right from undefined duties, key result area (KRA),
and unrealistic goals to harassment, ill-treatment, or
bullying at the workplace, are some of the major
causes that result in stress
The most common reaction to stress is flight or fight.
But any individual can neither avoid stress for long
nor can fight against the odds alone. Despite being
the common reactions, these options aren't the right
choice in the day to day work life situations
Even the ROI of organizations are adversely affected
because of employees' stress. As per the SHRM
India study, the productivity losses across IT,
Finance/Banking, and Travel and Hospitality
because of stress reach to Rs. 49.67 crore, 105.48
crore, and 10.5 crore respectively
Health deterioration, physical ailments,
underperformance, absenteeism, reduced
productivity, job quitting, et cetera are the major
results of stress. The need of the hour is to have a
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22854 Published by: The Mattingley Publishing Co., Inc.
planned approach to manage stress at the workplace
in a practically effective manner. This is what makes
the role of an HR even more crucial.
2. LITERATURE REVIEW
Financial sector has been a key factor of India‟s
growth and contributed immensely in Indian
economy. Stress has nowadays become a
worldwide crisis, which is affecting the people
working in almost every sector of the economy. It
not only affects physical and mental health of
employees, but also reduces the competitiveness
and productivity of the organization. Banking
Industry is one of the most stressful sectors.
Researcher has derived result with multiple
regression analysis in the financial sector, population
of Manager and above level of employees facing
highest level of workplace stress due to the value
derived from this study is clearly indicated that,
policies and system is most influential factor
responsible for creating additional workplace stress.
Work Environment and culture is second level of
responsible factor for workplace stress. While
Appraisal system and working hours and load are on
third and fourth important factors creating workplace
stress respectively. (Dr. Viral Bhatt, Hiral Borikar,
2020)
Due to various factors such as increasing workload,
change in technology, Government policies,
competitive challenges etc,the level of stress among
the employees has increased very rapidly. Stress
costs the organization with low morale, poor
motivation, high absenteeism, conflicts, low
productivity and low efficiency. Stress can affect
all aspects of an individual‟s life, including his
emotions, behaviour, thinking ability, and physical
health.
The major HRM activities include HR planning,
job analysis, job design, employee hiring, employee
and executive remuneration, employee motivation,
employee maintenance, industrial relations and
prospects of HRM. In this study individual HR
practices have been studied, this study combines
some of the HR practices and impact of workplace
stress on employees of Manager and above level in
financial services. The following HR practices that
are influencing on workplace stress of Manager and
above designated employees of different financial
industries this research:
Compensation and Benefits
Leadership
Employee Engagement
Work-life balance
2.1 COMPENSATION:
Khalid and Irshad, (2010) examined the constituents
of jobsatisfaction which are performance, pay,
promotion,remuneration, and appreciation besides
overall jobsatisfaction, their results concluded that
employees working private sector banks were more
gratified with their salary, acknowledgement, and
working hours as compared to employees of public
sector banks, whereas the employees of public sector
banks were happy with the security of their jobs.
Ram, Khoso, Shah, Chandio and Shaikih, (2011)
found that majority of the managers who were
employed at different organizations were under
stress, their results showed that 80%of the workers
are not able to entirely employ their abilities because
of the stress.
Abdullah, Uli, and Parasuraman, (2009) proposed
that there are some other factor which are relevant to
compensation and pay like working environment,
fellow worker, promotion system, work with worker
and relation with other
departmentemployees.Bytyagi, Reshani and Hasani,
(2010) in their research observed the extent of work
stress, satisfaction withtheir jobs, commitment
towards their work in an organization and the effect
these work environment measurements have upon
each other and by this we concluded that there exist
high level of job satisfaction, organization
commitment and work stress among employees
working in a specific environment.
2.2 LEADERSHIP:
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22855 Published by: The Mattingley Publishing Co., Inc.
Relationship building and dealing with conflict, as
well as decision making and job responsibilities, are
the most frequent demands contributing to increased
levels of stress for leaders. Also adding to the
sources of stress are leadership demands such as
developing people and managing limited resources.
Many leaders are also finding physical demands
such as travel, work hours and the work environment
compounding their levels of stress
Stress is caused by trying to do more with less, and
to do it faster. Workloads, budget cuts and travel are
demands that create stress. Leadership demands that
take time away from the leader‟s primary job
responsibilities are another source of stress. These
demands include long or frequent meetings and
navigating organizational bureaucracies
Motivating employees, resolving conflicts and
providing feedback were examples of stressful
leadership demands. These demands included
dealing with difficult personalities and relationship
building with peers and bosses.
Overcoming job-related constraints to maintaining
interpersonal relationships is a source of stress.
Leaders find it stressful allocating time to connect
with others interpersonally because of meetings,
travel and workloads. Additionally, personal
insecurity dealt mainly with stress over how best to
communicate and present to others. Examples
include giving developmental feedback and being
more patient with employees.
2.2.1 Boss as a Source of Stress:
Stress from one‟s boss tends to derive from feelings
that he or she does not support the leader enough or
show enough respect for the leader‟s authority.
Bosses with leadership and management styles that
differ from the individual leader are also sources of
significant stress.
2.2.2 Peers as a Source of Stress:
Stress from peers, on the other hand, looks very
different from stress caused by a boss. Competition
and lack of teamwork are the primary sources of
stress from a leader‟s peers. Peer behaviours that
discourage teamwork and collaboration are causes of
individual leader stress.
2.3 EMPLOYEE ENGAGEMENT:
The literature concerning employee engagement
poses a challenge due to the fact that there is no one
universally applied definition to cover the topic of
employee engagement. According to Baumruk (2004)
employee engagement has been defined within the
confines of emotional and intellectual commitment
to the organisation or the quantity of discretionary
effort, defined by Yankelovich and Immerwahr
(1984), as the voluntary effort employees provide
above and beyond what is required by employees in
their job (Frank et al 2004). From Kahn‟s definition
it is clear that employee engagement is a multi-
faceted paradigm. The multi-dimensional approach
to looking at engagement comes from the
perspective that Kahn took on the individual‟s
working experience. Kahn (1990) argued that the
work of Goffman (1961) only concentrated on
momentary face-to-face meetings, whereas an
altered concept needed to be developed which would
transcend appropriately into organisational life,
which is, according to Diamond &Allcorn (1985),
“on-going, emotionally charged and psychologically
complex”. Truss et al (2006), define employee
engagement as a „passion for work‟, which
encompasses the three elements of engagement,
previously discussed by Kahn (1990) in one
psychological state.
The employee engagement is defined as both
attitudinal and behavioural components because of it
has contains an organizational purpose, involvement,
commitment, passion, enthusiasm, focused effort
2.4 WORK LIFE BALANCE:
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22856 Published by: The Mattingley Publishing Co., Inc.
Kumar and Sunder “Problem Faced by Women
Executives Working in Public Sector Banks in
Puducherry”, studied the factors such as taking care
of the family combining domestic work and office
work leaves no time for making women fit for higher
posts and the stress resulting from this Physical
strain has been identified as a prime factor. The Fear
of transfer which disturbs family life and domestic
peace and the exploitation due to submissive nature
of women executives has been discriminated as
second important factor in giving better
performance. It is also interpreted that women
executives attach more significance to family life
while they are not neglecting the professional life.
Therefore women executives prefer to accomplish
any challenge without affecting their role in the
family. There is a another study of “Problems faced
by working women in Banking sector of
Bhawalpur”byAbid”, studied the various problems
faced by working women in banking sector and its
impact on the balancing between their professional
& personal life of married women in comparison to
unmarried women. They further found that their
parents have supportive attitude towards their
daughter which gives strength to them in comparison
of married women. Whereas sometimes relatives
created the problems, so parents of working women
should communicate other relative and society in
order to build the trust regarding the transparency of
this sector.
Dr. P.Kannan&Suma.U (2015)5 in order to manage
stress the organization has to encourage employee
development and embark on training interventions
for employees. Training specifically related to
policies and policy implementation is a key priority.
Stress in banking sector is mostly due to excess of
work pressure and work life imbalance the
organization should support and encourage taking up
roles that help them to balance work and family
Md. Hasebur Rahman, Asian Business Review,
Volume 3, Number 3/2013 (Issue 5) ISSN 2304-
2613 (Print); ISSN 2305-8730 (Online) - the
commercial bank as one the occupational group
functions under of high stress. The variables such as
long working hour, workload, family sympathy,
management pressure, mental depression, and job
insecurity perceived stress stressors of commercial
bank. Employees wellbeing psychologically and
mentally depress if stress prolong over the period of
time. Effective job design, healthy working
environment, remuneration should be offered to
employees to motivate in competitive jobs of
commercial bank.
3. RESEARCH GAP
The researcher has identifies that during literature
review it has been observed that majority of the
study have shown stress due to presence of different
HR practices and relationship between Human
Resource department‟s different practices and work
stress in general and not specified with any
particular designation.
There are many studies on junior level of employees
and it is related to physical stress or related to
equipment, overtime, pay packages, basic facilities
or related to PF or compensation. But in higher level
of stress are different than junior level of employees,
they are on top position and having managerial or
decision making task. Due to this their stress are also
different like Autonomy, psychology, role
ambiguity, leadership, work life balance or
unwanted decisions.
(Dr. Viral Bhatt and Ms. Hiral Borikar, 2020) in
their study, they have use methodology related to
simple, correlation with multiple regression model to
identify individual impact leads to stress.
Psychological status and how this psychological
reasoning related to designation, qualification,
experience such questions involved for
reasoning.Stress in India has mostly taken for
research but it has not taken seriously in
implementation level.
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22857 Published by: The Mattingley Publishing Co., Inc.
In geographical region, European, American, south
east countries where HR practices are very strongly
implemented. Where in India, IT and / or in pharma
sectors but in finance or banking sectors, HR
practices are not much prominent or dominating to
manage organization. Major role of HR in financial
services are majorly in recruitment and selection and
other practices. Higher level personnel are performer
more influential compare to Human resource
department. Such manpower required understanding
psychological aspect and this psychological aspect
must be classified.
In demographic region population supposed to be on
the designation of Manager for minimum 7 years
and more with Qualification of minimum Graduate
or Post graduate or any suitable professional
degree.Researcher has quantify the study that
employee‟s education and years of experience
support them to deal with different situation, time,
team and life management and finally manage
workplace stress.
4. RESEARCH OBJECTIVES
To identify the factors that are influencing
on workplace stress of Manager and above
designated employees of different financial
industries.
To classify according to psychographic
characteristics of workplacestress for manager and
above designated of different financial industries.
To analyzed the variation between the
clusters with respect to factors that are influencing
on workplace stress of Manager and above
designated employees.
To understand the association between
psychographic factors of workplace stress with
demographic factors like education, qualification
and designation.
5. RESEARCH PROCESS:
5.1 Research Design:
This is a cross sectional attempt of researcher to
understand a classification of senior personnel with
respect to psychographic and demographic aspect
of workplace stress in financial services. This is
unique attempt made by researcher trying to derive
new conclusions with fresh collection of data in
different geographical region, demographic profile
and with different techniques. Therefore the
descriptive cross sectional, research design is
adopted to derive the conclusion classification of
psychological factors of workplace stress for
manager and above designated of different financial
industries.
5.2 Sample Design:
Questionnaire:
To understand work stress with respect to Manager
and above designated employees from the different
financial industries. The core variables are studied
through exhaustive literature review and 35
statements related to workplace stress regarding
different variables are design respect to workplace
stress with the help of 5 point Likert scale. The
variable structure questionnaire includes some of the
sections included with important categorical
variable. The questions are structured by using
Likert Scale for the dependent and independent
and Category Scale for personal detail section. The
descriptions for seven Likert Scale which are, 1-
StronglyDisagree, 2-Disagree,3-Somewhat Disagree,
4-Neutral, 5- Somewhat Agree, 6-Agree and 7-
Strongly Agree.
Sample Design:
Here, researcher has select the financial service and
banking sector as a area of research and entire
research is focus on workplace stress of Manager
and above designated employees from the different
financial industries. In this research, the sample
characteristic indicate that the respondents are top
most designated, schedules are very hectic, the time
is always a constraint and their meetings or
schedules are priorly design and decided. These
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22858 Published by: The Mattingley Publishing Co., Inc.
categories of respondents are not easily
approachable. Therefore, researcher applies non-
probability purposive sampling to get the responses
from the respondents.
Total 554 managers and above designated
respondent were approached. Where 26 incomplete
responses not considered in the study. 109 responses
were collected through personal interview in office,
54 response collected at their home while remaining
365 responses collected through online mode.
Researcher has collected samples from major cities
of Gujarat like Ahmedabad (198), Surat (92), Baroda
(95), Rajkot (45), Anand (28), Jamnagar (20),
Mehsana (15), and Bhavnagar (35). For the purpose
of getting the representative data, the researcher has
selected the different financial institutes like Banks,
NBFC, Mutual fund, Insurance firm and stock
broking agencies in various parts of the Ahmedabad
City, Gujarat, India. .
5.3 Analytical tools and techniques:
Researcher applied the tools like factor analyses,
reliability, validity, hierarchical cluster and K-means
cluster and crosstab to understand classification of
psychological segmentation in terms of workplace
stress in Manager and above designated employees
from the different financial industries. to evaluate
the internal consistency the cronbach‟s alpha tools
represent the reliability has been perform, to
understand the number of segmentation of
classifications of personnel managers is identified
with hierarchical cluster proximity matrix and
Dendrogram and agglomeration schedule help us to
understand the exact number of classification with
respect to psychological factors in terms of numbers.
K-means cluster is applying to understand the
various kind of psychological behavior of manager
and above employees from the different financial
industries. The multi variate cross tab is used to
establish the association between the psychological
factors and the demographic category like education
qualification, designation and psychological factors
of workplace stress.
6. TESTING INSTRUMENT:
With an objective to determine the suitability of data
for the factor analysis, the Kaiser Meyer-Olkin
(KMO) measure of sampling adequacy and the
Bartlett„s Test of Sphericity are applied. The KMO
measure of sampling adequacy is a statistic that
indicates the proportion of variance in the variables
that might be caused by the reduced factors. Kaiser
(1974) recommends that a bare minimum of 0.5 is
unacceptable and that values between 0.5 and 0.7 are
adequate to proceeds further with the analysis
(Hutcheson&Sofroniou, 1999). The high value of
KMO (0.930) indicates that a factor analysis is quite
useful for the data being used in
this study. The KMO figures provide strong
evidence for sampling adequacy for these data.
Similarly, the significance value for Bartlett„s test of
Sphericity is 0.000 which indicates that there exist
significant relationships among variables. The output
of KMO and Bartlett„s tests supports the view that
factor analysis is very much useful for the present
data.
Table 1
KMO and Bartlett's Test
Kaiser-Meyer-Olkin Measure of Sampling
Adequacy.
0.930
Bartlett's Test of
Sphericity
Approx. Chi-Square 26249.079
df 595
Sig. 0.000
The questionnaire was administered in physical
paper format and over online form survey. A total
of 528 survey were made from 5 different financial
organisation.
Correlation Matrix
a. Determinant = .001
The determinant of the Correlation Matrix is 0.001
that is higher than the 0.00001 and hence no
multicollinearity is observed in the data.
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22859 Published by: The Mattingley Publishing Co., Inc.
Table 2: Total Variance Explained
Statement
No.
Factor
loading
Eigen
value
Explained
Variance
Anti
Image AVE
Cronbach's
Alpha
Composite
liability
S5 0.887
3.365 9.615
0.933
0.664 0.802 0.930
S4 0.835 0.930
S2 0.801 0.899
S1 0.792 0.882
S3 0.753 0.879
S6 0.904
2.386 6.817
0.871
0.694 0.853 0.971
S8 0.853 0.799
S9 0.821 0.700
S7 0.802 0.689
S10 0.781 0.670
S11 0.853
1.886 3.212
0.879
0.620 0.780 0.948
S15 0.810 0.854
S13 0.797 0.837
S14 0.752 0.810
S12 0.720 0.760
S20 0.890
2.768 7.909
0.900
0.691 0.812 0.971
S16 0.877 0.882
S19 0.845 0.853
S17 0.832 0.831
S18 0.701 0.754
S21 0.831
1.432 2.108
0.830
0.584 0.759 0.935
S23 0.816 0.820
S24 0.737 0.799
S22 0.721 0.787
S25 0.708 0.750
S30 0.881
14.300 40.872
0.850
0.584 0.745 0.934
S28 0.835 0.849
S29 0.735 0.838
S27 0.699 0.831
S26 0.650 0.828
S33 0.875
4.836 13.817
0.889
0.638 0.782 0.953
S34 0.859 0.850
S35 0.840 0.838
S31 0.723 0.823
S32 0.677 0.802
Factor Naming and related statements:
Once the factors extracted than the next step is to
interpret andname the factors. Factor naming is done
based on the membership of variousitems in various
factors as follows:
Factor 1 – WL – Work Load – Related Statements
are: S-5,4,2,1,3
Factor 2 – ENV – Work Environment – Related
Statements are: S- 6,8,9,7,10
Factor 3 –POLICIES –Related Statements are: S -
11,15,13,14,12
Factor 4 – LEADERSHIP – Related Statements
are: S – 20,16,19,17,18
Factor 5 – ROAM – Role Ambiguity –Related
Statements are: S – 21,23,24, 22,25
Factor 1 – COMP – Compensation – Related
Statements are: S- 30, 28, 29, 27,26
Factor 1 – WLB – Work Life Balance – Related
Statements are: S- 33,34,35,31,32
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22860 Published by: The Mattingley Publishing Co., Inc.
All the factors in Table 2 accounted for 84.390
percent of the variance. Total variance explained
(84.390 percent) by these components which is
higher than 50% as recommended by Nunnally&
Bernstein (1994) and almost greater than or equal to
the 60 percent threshold commonly used in social
sciences. (Hair et al., 2006). The 7 factor solutions
were derived using Principal Component Analysis
and Varimax rotations wherever possible. Ideally the
researcher should retain items that load clearly and
strongly onto one component/factor (Matsunaga,
Masaki, 2010). Explained variance for
Compensation (40.872), work life balance (13.817),
WL (9.615), LEADERSHIP (7.909), ENV (6.817),
POLICIES (3.212), Role Ambiguity (2.108). Thus, a
variable that loads on more than one factor, should
be removed if the cross-loading is greater than .40
(Schonrock-Adema et al., 2009).
Factor Loading& Eigen Value:
For interpreting the factor interpretation, Hair
(2006), suggests to refer to the factor loadings.
Factor Loadings are the correlation of each variable
and the factor. Loadings indicate the degree of
correspondence between the variable and the factor,
with higher loadings making the variable
representative of the factor. Factor loading of ± 0.30
to ± 0.40 are minimally acceptable, values greater
than ± 0.50 are generally considered necessary for
practical significance. Following table represents
guidelines for identifying significant factor loadings
based on sample size.
Sometimes, one variable is having significant
loading in several factors. Such variable is found to
have more than one significant loading is termed as
Cross-Loading. Such type of the variables should be
eliminated from the analysis so as to simplify the
factor structure (Hair et al., 2006). According to the
Hair (2006), there is no specific rule in selecting the
rotation method, therefore, the VARIMAX rotation
method selected while performing the exploratory
factor analysis. Principal Component Factor
Analysis method is adopted for while performing the
factor analysis. The objective for the selection of this
method is to summarize most of the original
information (variance) in a minimum number of
factors for prediction purposes. With component
analysis each variable contributes a value of 1 to the
total Eigen value. Thus, the factors having Eigen
values greater than 1 are considered significant.
Anti-Image:
Table 2 represents correlation values of factors of
employee readiness for change. As all the variables
are having partial correlation values higher than the
0.5 and hence it can be interpreting that all the
factors of employee readiness for change have
practical and statistical significance and data is
suitable for performing factor analysis.
Reliability:
It is vital for any research to evaluate the internal
consistencies of various statements frame for the
research work. To measure the intensity of internal
consistencies here researcher applied the tools
called Cronbach‟s Alpha. If the value of
Cronbach‟s Alpha > 0.70 then it indicates sufficient
internal consistencies regarding various statements
are frame for the research work. Reliability table
indicates for the factors like work load, work
environment, compensation, role ambiguity,
policies, leadership, work life balance the value of
Cronbach‟s Alpha is 0.808, 0.853, 0.780, 0.812,
0.759, 0.745, 0.782 respectively which is
mentioned in table no. 04. Here value of
Cronbach‟s alpha is greater than 0.7 in each case, it
shows that researcher did not violet assumption of
internal consistency called reliability.
Model Validity Measure: 1. Convergent 2.
Discriminant validity
Table 3
MS
V
WL ENV POLIC
IES
LEAD
ERSHI
P
RPAM
B
COMP WLB
WL 0.23
0
0.815
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22861 Published by: The Mattingley Publishing Co., Inc.
ENV 0.21
7
0.466*
**
0.833
POLICIES 0.14
7
0.384*
**
0.373*
**
0.787
LEADERS
HIP
0.23
0
0.480*
**
0.371*
**
0.352*
**
0.831
ROAMB 0.13
4
0.366*
**
0.274*
**
0.283*
**
0.239*
**
0.764
COMP 0.12
8
0.309*
**
0.358*
**
0.126*
**
0.357*
**
0.288*
**
0.764
WLB 0.17
1
0.404*
**
0.295*
**
0.256*
**
0.413*
**
0.170*
**
0.317*
**
0.798
Significance of correlations:
***P<0.001
Thresholds from:
Hu,L., Bentler, P.M. (1999), “Cutoff criteria for fit indexes in covariance structure analysis:
Conventional criteria versus New Alternatives” SEM vol. 6(1) , pp. 1-55
AVE (Average Variance Extracted):
Average variance extracted (AVE) is a measure of
the amount of variance that is captured by a
construct in relation to the amount of variance due
to measurement error. AVE is well below the
conventional threshold of 0.5. Work out
the Mean (the simple average of the numbers) then
for each number: subtract the Mean and square the
result (the squared difference). Then work out
the average of those squared differences.
(Fornell&Larcker 1981). In Table no. 04, AVE for
WL (0.664), ENV (0.694), Policies (0.620),
Leadership (0.691), and Role Ambiguity (0.584),
and Compensation (0.584), work life balance
(0.638).
Composite reliability (sometimes called
construct reliability) is a measure of internal
consistency in scale items, much like Cronbach's
alpha (Netemeyer, 2003). It can be thought of as
being equal to the total amount of true score variance
relative to the total scale score variance (Brunner
&Süß, 2005). Composite reliability above the 0.70
threshold and an extracted variance above the 0.50
threshold are recommended by Hair et al. (2006).
Last component of convergent validity is Average
Variance Extracted (AVE). Average Variance
Extracted (AVE) is higher than 0.5 but we can
accept 0.4 because Fornell and Larcker (1981) said
that if AVE is less than 0.5, but composite reliability
is higher than 0.70, the convergent validity of the
construct is still adequate.
Threshold criteria:
In Convergent validity, AVE value for all cases are
more than 0.5, Composite reliability value is greater
than 0.70 and composite reliability should be greater
than AVE for each variable. While in the
Discriminant validity,AVE should greater than MSV
and square root of AVE should be greater than value
of correlation, coefficients among all factors.
Here we did not violet the assumption of
convergent validity as well as discriminant
validity.
CLUSTER ANALYSIS:
Table 4
Distances between Final Cluster
Centres
Cluster A B
1 7.783
2 7.783
The above table shows that there is a considerable
distance between the cluster centers of the two
clusters which is 7.783 number indicate that there is
a significant difference in the value of segment A
and segment B with respect to psychological
aspects of affecting workplace stress.
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22862 Published by: The Mattingley Publishing Co., Inc.
Table 5
Number of Cases in each
Cluster
Cluster A 216
B 312
Valid 528
Missing 0
The above table shows that of the total respondent
base of 528, 528 entries are valid. It also tells us
that the two clusters have almost similar cases
favoring their membership of the cluster with 216
responses being a part of the Cluster „A‟ where
respondents have rated their company‟s HR
practices as Low variations in terms of their
psychographic attitude, while 312 responses are
grouped into cluster „B‟ signifying that 312
respondents have rated their company‟s HR
practices as high variations in terms of their
psychographic attitude.
Table 6
Final Cluster Centres
Cluster Mean F Sig.
A B
S1 4 6 818.031 0
S2 3 5 154.507 0
S3 3 5 378.012 0
S4 3 6 349.524 0
S5 4 5 40.717 0
S6 6 5 38.006 0
S7 4 6 144.105 0
S8 3 6 446.615 0
S9 4 5 265.549 0
S10 4 5 105.035 0
S11 4 5 46.807 0
S12 4 5 123.77 0
S13 4 6 258.735 0
S14 4 5 49.277 0
S15 5 5 12.975 0
S16 4 5 42.561 0
S17 5 5 31.839 0
S18 5 6 157.675 0
S19 5 6 106.29 0
S20 5 5 24.846 0
S21 5 6 38.859 0
S22 4 4 1.59 0.208
S23 4 5 40.939 0
S24 5 5 2.461 0.117
S25 4 4 3.057 0.081
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22863 Published by: The Mattingley Publishing Co., Inc.
S26 6 6 26.334 0
S27 5 6 24.939 0
S28 4 5 101.619 0
S29 3 4 15.772 0
S30 4 5 109.604 0
S31 5 6 91.285 0
S32 6 4 210.12 0
S33 5 4 51.819 0
S34 5 5 4.146 0.042
S35 6 5 79.853 0
In above table, there are 6 statements (S-
1,3,4,8,9,13) where F values are higher side it
indicate that there is larger variations between
cluster A and cluster B with respect to these
statements.
Cluster B with 5 statements (S-15,20,26, 27,
29) where F values are lower side it indicate that
there is lower variations between cluster A and
cluster B with respect to these statements.
Whereas 4 statements (S-22,24,25,34)
respondents marginal no variations
Following are the statements to elaborate above
values:
Large variations between Cluster – A and B:
Statement
Number
Statement
S1 Working hours are normally
stretched / extended regularly
S3 Unrealistic targets force me to
remain mentally involved after
working hours
S4 I hardly to get time to learn new
things due to long working hours
S8 Unclear Job role leads to less
productivity
S9 Continuous monitoring spoils
creativity related to execution of
task
S13 Repetitive Business related
travel/trips adversely impact on my
Health and personal life
It‟s clearly indicated that the F ratio of above
mentioned statements are significantly in higher
sides that shows that these are the statements
classify the two different segment clearly. The
statement number 1 related to extended normal
working hours create larger difference between the
two clusters with the F values of S1 (818.031), it
means segment No. B is more affected in terms of
additional working hours then segment A. while
similar kind of the deviations researcher found
from statement No. 8,3,4,9,13 respectively with
their F values are S8 (446.0615), S3 (378.012), S4
(349.524), S9 (265.549), S13 (258.735)
respectively.
In appropriate job design means clarity regarding
the role to perform in the any organizations‟ and
unrealistic sales target design by the supreme
authority leads to higher level stress. These two
factors classify the two group of the segments A
and B clearly. The top level management
consciously and constantly involve in their routine
hectic schedules, sometimes this monotonous
activities restrict them to perform the task
innovatively and the work pressures stop them to
upgrade themselves in terms of newly invented
technology or skills. These aspects also clearly
distinguish two groups segment A and Segment
B.Frequenttravelling of senior personnel also
affected on physical and mental stress. This is also
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22864 Published by: The Mattingley Publishing Co., Inc.
one of the important aspect to differentiate two
groups separately.
Lower variations between Cluster – A and B:
Statement
Number
Statement
S15 Same designation for long duration
creates career frustration
S20 Our Organization Reward policy is
not attractive compared to other
companies
S26 I preferred to leave on time
S27 In normal situation I am able to
balance professional and personal
life
S29 I rarely participate in leisure
activities due overload
It‟s clearly indicated that the F ratio of above
mentioned statements are significantly in lower
sides. The F value of statement number 26
(26.334), 27 (24.939), 20 (24.846), 29 (15.772), 15
(12.975) respectively. Statement No. 26 has highest
value which shows increase of stress. Whereas
statement no. 27 compare to segment group B has
more stress in compare to A and rest statement No.
15, 20 and 29 has not big difference, which indicate
marginal amount of stress level.
Higher level employees balance their work and
family and that‟s why they prefer to leave on time.
On other side they are able to manage to stay for
longer duration on same designation.
Marginal No Variations:
Statement
Number
Statement
S22 Goals are unclear within team
S24 Autocratic leadership reduces group
members‟ commitment/cooperative
spirit
S25 Gender discrimination in allocation
of task
S34 Excessive targets reduces my
incentives
In above statement no: S22, 24, 25, 34 has marginal
variations that indicate that stress level marginally
increased. F values of these statements are S34
(4.146), S25 (3.057), S24 (2.461) and S22 (1.59)
respectively. In this segment statement number 34
shows more impact compare to other statements
whereas statement number 22 has create lowest
stress.
Which indicate that higher level employee‟s
conscious about their incentives and when
excessive target effects on their annual incentive it
creates direct stress but they are able to manage
with unclear goals as per statement no. 22.
Psychological aspects leads to higher level
workplace stress of Manager and above level
with respect to Cluster A to Cluster B:
Statement
Number
Statement
S6 Continuously similar kind of job
affects on work creativity
S32 Non availability of pension system
forces me to plan for retirement
financial planning
S33 Gap in company goals creates mis-
communication among employees
S35 Unstructured remuneration system
creates dissatisfaction within
organization
Cluster mean value of statement number S6 (6-5),
S35 (6-5), S32 (6-4), S33 (5-4) respectively. Which
shows that in statement no. S6 and S35, Personnel
of Cluster A feel higher stress compared to
personnel of cluster B. whereas S32 and S33 cluster
A feel higher stress but cluster group B feel neutral.
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22865 Published by: The Mattingley Publishing Co., Inc.
These cluster mean value indicate that higher level
of employees are more creative, aware and
conscious about their remunerations for their
designation and related salary package in their
organization as well as in other organization in
same designation. Whereas with the experience
these level of respondents manage the organization
communication system and their financial planning.
Psychological aspects leads to lower level
workplace stress of Manager and above level
with respect to Cluster A to Cluster B:
Statement
Number
Statement
S1 Working hours are normally
stretched / extended regularly
S7 My potential and ability should be
use for important task
S13 Repetitive Business related
travel/trips adversely impact on my
health and personal life
S2 It is difficult to complete the work
in regular office time
S3 Unrealistic targets force me to
remain mentally involved after
working hours
S4 I hardly to get time to learn new
things due to long working hours
S8 Unclear Job role leads to less
productivity
In above statement cluster mean value of statement
number S8 (3-6), S4 (3-6), S3 (3-5), S2 (3-5), S1(4-
6), S7 (4-6), S13 (4-6). Which indicate that in
statement No. 2,3,4,8 respondent group B has
higher stress compared to group A and in statement
No. 1,7,13 respondent group B has higher stress but
group A has neutral.
These indicate that higher level employees feel
stress in the situation when they are mentally
involve after working hours due to this they do not
give valuable time to learn new things and upgrade
themselves and creating confusions and reduce
productivity. Whereas
Personality of respondent of Cluster A and
Cluster B
Cluster A with Highest Value shows
higher stress in respondent:
Following are the statements for which Cluster A
respondent have shown highest stress:
Statement No.: 6, 15,17,18,19,20,21,24,26,27,31,
32,33,34,35
Cluster A respondents feel work place stress due to
Autocratic leadership with unclear job role and
long distance with transfers affects on work life
balance, need to do retirement planning because of
irregular incentives and unstructured remuneration
system and unattractive reward policy, with similar
designation and no creativity on work.
Cluster A with Lowest Value shows
Lower stress in respondent:
Similarly, Following are the statements for which
Cluster A respondent have shown lowest
stress:Statement No.:2,3,4,8,29
This shows that Cluster A respondents are able to
manage stress at job created due to mental
involvement after working hours, less time for
learning new things with unclear job role.
Cluster B with Highest Value shows
higher stress in respondent:
Following are the statements for which Cluster B
respondent have shown highest stress:
Statement No.:
1,4,7,8,9,10,11,12,14,15,16,17,18,19,20,21,23,24,2
6,27,28,30,31,34,35
Cluster B group respondents‟ stress level increase
due to unclear job role, slowness of office
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22866 Published by: The Mattingley Publishing Co., Inc.
equipments, self travel plan, poor performance of
group members, autocratic leadership, extended
working hours not able to give time for new
learning or attending special event or manage work
life balance but cannot leave job for personal
commitments. Simultaneously, stressed because of
continuous monitoring, not maintaining
confidentiality due to close cubical, on same
designation with frequent management
restructuring affected on incentives, reward,
policies, systems and unequal authority creating
inferiority complex.
Cluster B with Lowest Value shows
Lower stress in respondent:
Following are the statements for which Cluster B
respondent have shown Lowest stress:
Statement No.: 22,25,29,32,33
Cluster B group of respondents able to manage
their stress created due to poor performance to
group member, they manage their timing and get
time for leisure activities and do retirement
planning even though gender bias and unclear job
role
INDEPENDENT SAMPLE t TEST:
Independent two sample test is first steps in the area
of the testing ofHypothesis. This test is applied to
check whether there is any significantdifference
between the two categorical variables for any
specific continuousvariables. The research has
identified Cluster A and Cluster B as
categoricalvariables having two categories. The
purpose is to understand if there is anysignificant
difference between Cluster A and Cluster B with
respect to overall influenceof different factors
influencing workplace stress in Manager and above
level in financial services. The researcher wants to
understand whether there is a differencebetween
Cluster A and Cluster B regarding overall impact of
identified factors. To createoverall influence, the
researcher has applied summated scales and
derivedcombined positive or negative value of these
factors. To evaluate whether thevariance in these
two groups is homogeneous or not, Levene„s Test to
evaluate thesimilarity of variance between the two
groups has been applied.
Table: 7
Independent Samples tTest
Levene's Test
for Equality of
Variances
t-test for
Equality of
Means
N F t df
Sig. (2-
tailed)
WL 216 293.646 -23.069 526 0.000
312 -16.600 163.371 0.000
ENV 216 146.080 -7.625 526 0.000
312 -6.012 179.900 0.000
POLICIES 216 166.788 -8.202 526 0.000
312 -6.481 180.338 0.000
LEADERSHIP 216 10.280 -18.931 526 0.000
312 -17.225 219.189 0.000
ROAM 216 166.788 -8.202 526 0.000
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22867 Published by: The Mattingley Publishing Co., Inc.
312 -6.481 180.338 0.000
COMP 216 79.182 -24.248 526 0.000
312 -18.778 176.235 0.000
WLB 216 91.789 -25.809 526 0.000
312 -19.772 174.141 0.000
Objective: To evaluate important factors influencing workplace stress in Manager and above level in
financial services
H6: There is significant difference between Cluster
A and Cluster B Workload/ Work Environment /
Policies / Leadership / Role Ambiguity /
Compensation / Work life balance
H0: There is no significant difference between
Cluster A and Cluster Bon workload
H6a: There is significant difference between Cluster
A and Cluster B regardingworkload
Considering the independent sample test table, the
value F suggest 293.646. Considering the T value is
-23.069, and significant twotailed value is 0.000,
which is less than 0.05, so we reject null
Hypothesis. Itindicates that there is significant
difference between average value of Cluster A and
Cluster B regarding workload which leads to
workplace stress
H0: There is no significant difference between
Cluster A and Cluster B regarding Work
Environment
H6b: There is significant difference between Cluster
A and Cluster B regarding Work Environment
Considering the independent sample test table, the
value F suggest 146.080. Considering the T value is
-7.625, and significant twotailed value is 0.000,
which is less than 0.05, so we reject null
Hypothesis. Itindicates that there is significant
difference between average valueCluster A and
Cluster B regarding work environment which leads
to workplace stress.
H0: There is no significant difference between
Cluster A and Cluster B regarding Policies
H6c: There is significant difference between Cluster
A and Cluster B regarding Policies
Considering the independent sample test table, the
value F suggest 166.788. Considering the T value is
-8.202, and significant twotailed value is 0.000,
which is less than 0.05, so we reject null
Hypothesis. Itindicates that there is significant
difference between average value Cluster A and
Cluster B regarding Policies which leads to
workplace stress.
H0: There is no significant difference between
Cluster A and Cluster B regarding Leadership
H6d: There is significant difference between Cluster
A and Cluster B regarding Leadership
Considering the independent sample test table, the
value F suggest 10.280. Considering the T value is -
18.931, and significant twotailed value is
0.000,which is more than 0.05, so we accept null
Hypothesis. Itindicates that there is no significant
difference between average value of Cluster A and
Cluster B regarding Leadership which leads to
workplace stress
H0: There is no significant difference between
Cluster A and Cluster B regarding Role Ambiguity
H6e: There is significant difference between Cluster
A and Cluster B regarding Role Ambiguity
Considering the independent sample test table, the
value F suggest 166.788. Considering the T value is
-8.202, and significant twotailed value is 0.000,
which is less than 0.05, so we reject null
Hypothesis. Itindicates that there is significant
difference between average value of Cluster A and
Cluster B regarding Role Ambiguity which leads to
workplace stress
H0: There is no significant difference between
Cluster A and Cluster B regarding Compensation
H6f: There is significant difference between Cluster
A and Cluster B regarding Compensation
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22868 Published by: The Mattingley Publishing Co., Inc.
Considering the independent sample test table, the
value F suggest 79.182. Considering the T value is -
24.248, andsignificant two tailed value is 0.000,
which is less than 0.05, so we reject nullHypothesis.
It indicates that there is significant difference
between average value of Cluster A and Cluster B
regarding Compensation which leads to workplace
stress
H0: There is no significant difference between
Cluster A and Cluster B regarding Work life balance
H6f: There is significant difference between Cluster
A and Cluster B regarding Work life balance
Considering the independent sample test table, the
value F suggest 91.789. Considering the T value is -
25.809, and significant two tailed value is 0.000,
which is less than 0.05, so we reject null
Hypothesis. It indicates that there is significant
difference between average value of Cluster A and
Cluster B regarding Work life balance which leads
to workplace stress
DEMOGRAPHIC CLUSTER:
Table 8
Cases
Valid Missing Total
N Percent N Percent N Percent
Cluster Number of Case *
Qualification *
Designation
528 100.0% 0 0.0% 528 100.0%
Table 9
Cluster Number of Case * Qualification * Designation Crosstabulation
Count
Designation Qualification
Total 1 2 3
1 Cluster Number of Case
A 4 55 0 59
B 0 47 209 256
Total 4 102 209 315
2 Cluster Number of Case
A 96 4 100
B 8 8 16
Total 104 12 116
3 Cluster Number of Case
1 57 57
2 40 40
Total 97 97
Total Cluster Number of Case
1 4 151 61 216
2 0 55 257 312
Total 4 206 318 528
Above analysis reveals that: Qualification 1: Graduate, 2: Post Graduate and 3: Professional. Designation:
1: Manager, 2: Manager – VP, 3: VP - Above.
Table No. 9
1. Indicate that Respondent group of Cluster A
with designation of :
Manager with Post graduate education
qualification feeling higher stress (55) Manager
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22869 Published by: The Mattingley Publishing Co., Inc.
with Professional qualifications feeling no stress
(0)
Whereas Cluster B with designation:
Manager with Professional degree have higher
stress (209)
Manager with Graduate are able to manage the
stress(0).
2. shows that Respondent group of Cluster A
with designation:
Manager – VP and with Post graduate
qualifications they feel more stress (96) Manager
– VP with Professional degree have less (4)
Whereas, Cluster B with:
Manager – VP with Post graduate and
Professional qualifications feeling equal stress
3. In last case Cluster A with:
VP and above level with Post graduate
qualification have higher level of stress (151) and
with graduate degree less (4)
Whereas, Cluster B with:
VP and above level respondents Professional
qualifications have more stress (257) but with
graduate degree respondents are manage to
situation and feeling stress (0)
PSYCHOMETRIC & DEMOGRAPHIC
ANALYSIS:
CLUSTER – A – (HIGHER STRESS LEVEL)
Designation – Manager, Manager – VP,VP and
above
Qualifications - Post graduate
Reason of Workplace stress: Autocratic
leadership with unclear job role and long distance
with transfers affects on work life balance, need to
do retirement planning because of irregular
incentives and unstructured remuneration system
and unattractive reward policy, with similar
designation and no creativity on work.
CLUSTER – A – (LOWER STRESS LEVEL)
Designation – Manager, Manager – VP,VP and
above
Qualifications – Graduate & Professional degree
Reason of Workplace stress: Mental involvement
after working hours, less time for learning new
things with unclear job role.
CLUSTER – B – (HIGHER STRESS LEVEL)
Designation – Manager, Manager – VP,VP and
above
Qualifications – Graduate & Professional degree
Reason of Workplace stress: Unclear job role,
slowness of office equipments, self travel plan,
poor performance of group members, autocratic
leadership, extended working hours not able to give
time for new learning or attending special event or
manage work life balance but cannot leave job for
personal commitments. Simultaneously, stressed
because of continuous monitoring, not maintaining
confidentiality due to close cubical, on same
designation with frequent management
restructuring affected on incentives, reward,
policies, systems and unequal authority creating
inferiority complex.
CLUSTER – B – (LOWER STRESS LEVEL)
Designation – Manager, Manager – VP,VP and
above
Qualifications – Graduate, Post Graduate &
Professional degree
Reason of Workplace stress: Poor performance to
group member, they manage their timing and get
time for leisure activities and do retirement
planning even though gender bias and unclear job
role
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22870 Published by: The Mattingley Publishing Co., Inc.
7. FINDINGS
The analysis is in two clusters i.e. Cluster – 1 & 2.
In total 6 statements F value is having highest
variations. Where cluster – 1 shows „High‟ stress
and cluster -2 shows „Neutral‟.
Cluster - 1 (Cluster centered with Maximum Value)
Point - Lowest - 6 – Agree Intervening variables
Statement
No. Statements
Designation
of
Populations
Level of
Education Attitude
S6 Continuously similar kind of job
affects on work creativity Manager
Post
Graduate
Creative,
Professional,
Future planner
S26 I preferred to leave on time Manager –
VP
Post
Graduate
S32
Non availability of pension system
forces me to plan for retirement
financial planning
VP and
above
Professional
degree
S35
Unstructured remuneration system
creates dissatisfaction within
organization
Respondent of Cluster 1 have shown maximum value i.e. higher stress level. This shows that
Manager and above designated employees with Post Graduate or professional education
background are Creative that‟s why they prefer to leave on time and professional to get
similar salary across the related industry and good financial planner.
Cluster - 2 (Cluster centered with Maximum Value)
Point - Lowest - 6 – Agree Intervening variables
Statement
No. Statements
Designation
of
Populations
Level of
Education Attitude
S1 Working hours are normally
stretched / extended regularly Manager Professional
Highly loaded with
work &
responsibility, feel
under
employed,inequality,
less clarity of job
role which affects on
work efficiency.
Health and personal
life affected due to
frequent transfers,
business travel and
work place distance
S4 I hardly to get time to learn new
things due to long working hours
Manager –
VP
Post
Graduate and
Professional
S7 My potential and ability should
be use for important task VP and
above
Professional
S8 Unclear Job role leads to less
productivity
S13
Repetitive Business related
travel/trips adversely impact on
my health and personal life
S18 Life disturbed due to transfers
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22871 Published by: The Mattingley Publishing Co., Inc.
S19
Change in roles and
responsibilityaffect on work
efficiency
S21 Unequal authority at same grade
creating inferiority complex
S26 I preferred to leave on time
S27
In normal situation I am able to
balance professional and personal
life
S31
Long distance between home and
office effects on productivity and
wastage of time
Respondent of Cluster 1 have shown maximum
value for higher stress level. This shows that
Manager and above designated employees with Post
Graduate or professional education background are
Highly loaded with work & responsibility, feel under
employed,inequality, less clarity of job role which
affects on work efficiency. Health and personal life
affected due to frequent transfers, business travel
and work place distance.
Cluster - 1 (Cluster centered with Minimum Value)
Point - Lowest - 3 - Somewhat Disagree Intervening variables
Statement
No. Statements
Designation
of
Populations
Level of
Education Attitude
S2 It is difficult to complete the
work in regular office time Manager Graduate
Matured
Professional,
believe in Time
management and
know work life
balance
S3
Unrealistic targets force me to
remain mentally involved after
working hours
Manager –
VP
Professional
degree
S4 I hardly to get time to learn new
things due to long working hours
VP and
above
Professional
degree
S8 Unclear Job role leads to less
productivity
S29 I rarely participate in leisure
activities due overload
Respondent of Cluster 1 have shown minimum value
with somewhat disagree with for stress level. This
shows that Manager and above designated
employees with Graduate or professional education
background areMatured Professional, believe in
Time management and know work life balance
Cluster - 2 (Cluster centered with Minimum Value)
Point - Lowest - 4 – Neutral Intervening variables
Statement
No. Statements
Designation
of
Level of
Education Attitude
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22872 Published by: The Mattingley Publishing Co., Inc.
Populations
S22 Goals are unclear within team Manager Post
Graduate
Effectively
manage team,
not believe in
gender bias,
good time
management
S25 Gender discrimination in
allocation of task
Manager –
VP
Post
Graduate
and
Professional
Degree
S29 I rarely participate in leisure
activities due overload
VP and
above
Professional
Degree
S32
Non availability of pension
system forces me to plan for
retirement financial planning
S33
Gap in company goals creates
mis-communication among
employees
Respondent of Cluster 2 have shown minimum value
with Neutral for stress level. This shows that
Manager and above designated employees with Post
Graduate or professional education background
areEffectively manage team, not believe in gender
bias, good time management.
In T Test, major difference between cluster A and
Cluster B is highest in role ambiguity, policies,
work environment, leadership, workload,
compensation and last work life balance
respectively.
8. MANAGERIAL APPLICATIONS
– CONCLUSION
All the research objectives were achieved through
this study. Here researcher has identified factors
between to clusters, classify segments with
psychographic segmentation, identified highest
difference between two clusters with the help of t
Test. In the last phase of research the managers
psychographic behavior linked with their
demographic status like designation and
qualifications.
This study contributes quantification of workplace
stress in the financial services sector for the higher
level managers. Therefore Human resource
managers have to make appropriate changes in
different policies like in working hours, salary
structure/perks and job Analysis, Transfer policies,
business travel and timings, transparency in
leadership to create highly motivating environment
for long association, productive with innovation and
healthy environment in the organization.
9. REFERENCES
[1] Akinboye, J.O., Akinboye, D.O., Adeyemo,
D.A.,"Coping with stress in life and at the
workplace", Stirlin-Horden Publishers (Nig).
Ltd., 2002.
[2] Annu Rev Clin Psychol. 2005; 1: 607–628.
STRESS AND HEALTH: Psychological,
Behavioral, and Biological Determinants, Neil
Schneiderman, Gail Ironson, and Scott D.
Siegel, US National Library of Medicine
National Institutes of Health
[3] ANDREA J. ROMERO, ROBERT E.
ROBERTS, Stress Within a Bicultural Context
for Adolescents of Mexican Descent
[4] Ashfaq Ahmed, Dr. Muhammad Ramzan,
Effects of Job Stress on Employees Job
Performance A Study on Banking Sector of
Pakistan, IOSR Journal of Business and
Management (IOSR-JBM) e-ISSN: 2278-487X,
p-ISSN: 2319-7668. Volume 11, Issue 6 (Jul. -
Aug. 2013)
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22873 Published by: The Mattingley Publishing Co., Inc.
[5] AzinTaghipourZahraKhademDezfuli July
2013,Designing and Testing a Model of
Antecedents of Work Engagement, Procedia -
Social and Behavioral Sciences, Volume 84, 9,
Pages 149-154
[6] Brewster, Chris et al., (2000). Contemporary
Issues in Human Resource Management:
Gaining a Competitive Advantage, Oxford
University Press, Cape Town, p. 56.
[7] Claire Teo & Lea Waters, The Role of Human
Resource Practices in Reducing Occupational
Stress and Strain, International Journal of Stress
Management volume 9, pages207–226(2002)
[8] CerenGiderlerAtalaya, Optimism Syndrome in
Business Life: A Research of Optimism About
Academicians in Turkey, Procedia - Social and
Behavioral Sciences, Volume 58, 12 October
2012, Pages 964-970
[9] Christina Maslach and Michael P.
Leiter,Jun15(2): Understanding the burnout
experience: recent research and its implications
for psychiatry, World Psychiatry. 2016 103–
111.
[10] Dyer, Lee, Reeves, Todd.(1995). “Human
Resource Strategies and Firm Performance:
What Do We Know and Where Do We Need To
Go?” The International Journal of Human
Resource Management 6:3, p.657, pp.656-670.
[11] Delery, J.E. and Doty, D.H. (1996) Modes of
Theorizing in Strategic Human Resource
Management: Test of Universalistic,
Contingency, and Configurational Performance
Predictions. Academy of Management Journal,
39, 802-835.
[12] David E. Guest, June 1, 2002 , Perspectives on
the Study of Work-life Balance, Sage journal,
Volume: 41 issue: 2, page(s): 255-279
[13] Dr. BindiyaGoyal, Work-Life Balance of
Nurses and Lady Doctors Volume-4, Issue-4,
August-2014, ISSN No.: 2250-0758
International Journal of Engineering and
Management Research
[14] Fornell&Larcker
(1981), https://www.jstor.org/stable/3151312
[15] F. Moore, Work-life balance: contrasting
managers and workers in an MNC, Employee
Relations, 29(4), 2007, 385-399.
[16] Gratton, Lynda et al., (1999). Strategic Human
Resource Management, Oxford University
Press, New York, p.7.
[17] Greenhaus, J. C. (2003). The relation
between work-family balance and quality of
life. Journal of Vocational Behavior, 510-31.
[18] Guest, D. (2002). Perspectives on the study of
work life balance. Social Science Information,
255.
[19] Geneviève L. Lavigne, Robert J.
Vallerand, Laurence Crevier-Braud May 3,
2011,The Fundamental Need to Belong: On the
Distinction Between Growth and Deficit-
Reduction Orientations, , Personality and social
psychology Bulltine
[20] Hiral Borikar, Dr. Viral Bhatt, (2020),
Measuring impact of factors influencing
workplace stress with respect to financial
services, Alochana Chakra Journal
[21] Hamilton, G. &. (2006). Understanding the
Work-life Conflict of Never-
[22] Married Women without Women. Women in
Management Review, 21(5), 393.
[23] Hassan ISMAIL, Job insecurity, Burnout and
Intention to Quit, International Journal of
Academic Research in Business and Social
Sciences April 2015, Vol. 5, No. 4 ISSN: 2222-
6990
[24] H. Liu and L. Yu, “Toward integrating feature
selection algorithms for classification and
clustering,” IEEE Trans. Knowl. Data Eng., vol.
17, no. 4, pp. 491–502, Apr. 2005.
[25] Impact of Stressors (Role conflict, Role overload,
Leadership Support and Organizational
Politics) , Published on Nov 26, 2015 , Invention
Journal
[26] JO Akinboye, DO Akinboye, DA
Adeyemo Coping with stress in life and
workplace, - Stirling–Horden Publishers, Ibadan,
Nigeria, 2002
[27] John S.Carroll, Jenny W.Rudolph,
SachiHatakenaka, Learning from experience in
high-hazard organizations,Research in
Organizational Behavior, Volume 24, 2002,
Pages 87-137
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22874 Published by: The Mattingley Publishing Co., Inc.
[28] KamaldeepBhui, SokratisDinos, Magdalena
Galant-Miecznikowska, Bertine de
Jongh,and Stephen Stansfeld, 2016, Perceptions
of work stress causes and effective interventions
in employees working in public, private and
non-governmental organizations: a qualitative
study, US National Library of Medicine
National Institutes of Health
[29] M. Noon, and P. Blyton, The realities of work-
experiencing work and employment in
contemporary society (Hampshire: Palgrave,
Macmillan, 2007, 3rd ed.).
[30] Mark A. Youndt, Scott A. Snell, James W.
Dean, Jr. and David P. Lepak, Human Resource
Management, Manufacturing Strategy, and Firm
Performance The Academy of Management
Journal, Vol. 39, No. 4 (Aug., 1996)
[31] Martin Rabe, Salvatore Giacomuzzi & Matthias
Nübling, Psychosocial workload and stress in
the workers‟ representative, Springer journals
[32] Max Kashefi, November 5, 2009 ,Job
Satisfaction and/or Job Stress: The Psychological
Consequences of Working in „High Performance
Work Organizations‟ Sag Journals
[33] Moura, Alejandro Orgambídez-Ramos, Gabriela
Gonçalves, Role Stress and Work Engagement
as Antecedents of Job Satisfaction: Results
From Portugal, Daniel, Europe Journal of
Pyschology
[34] Michael Rose, First Published September 1,
2003, Good Deal, Bad Deal? Job Satisfaction in
Occupations, Sage Journal
[35] N. Venkateswara Sharma, Employee
Engagement and Job Stress- An Overview,
International Journal & Magazine of
Engineering, Technology, Management and
Research, ISSN No: 2348-4845
[36] Patricia Voydanoff, September 1, 2005 ,Work
Demands and Work-to-Family and Family-to-
Work Conflict: Direct and Indirect
Relationships, sage publication
[37] QianliXu, Member, IEEE, Tin Lay Nwe,
Member, IEEE, and CuntaiGuan,Cluster-Based
Analysis for Personalized Stress Evaluation
Using Physiological Signals, IEEE journal of
biomedical and health informatics, vol. 19, no.
1, january 2015
[38] SaqibUsman, M. Tahir Akbar, Dr.
MuhammedRamzan, Effect of Salary and Stress
on Job Satisfaction of Teachers in District
Sialkot, Pakistan IOSR Journal Of Humanities
And Social Science (IOSR-JHSS) Volume 15 ,
Issue 2 (Sep. - Oct. 2013), PP 68-74
[39] Schuler, Randall S., Jackson, Susan E., (2007).
Strategic Human Resource Management,
Blackwell Publishing, USA,p.xiii.
[40] Randall S. Schuler, Susan E. Jackson, Linking
Competitive Strategies with Human Resource
Management Practice, August 1987, Resarch
Gate
[41] Podszus Thomas; Grote, Ludger, Stress
management in Hypretnsion, Journal
of Hypertension: April 1996 - Volume 14 -
Issue 4 - p 419-422
[42] Peter Boxall, John Purcell, Strategy and Human
Resource Management, October 2003,
Management Decision 57(1), Rsarch Gate,
[43] SaqibUsman, M. Tahir Akbar, Dr.
MuhammedRamzan (M Phil scholar) (M Phil
scholar) (Ph. D) Superior University Lahore,
Pakistan. Effect of Salary and Stress on Job
Satisfaction of Teachers inDistrict Sialkot,
Pakistan
[44] Stetz et al, 2007
M.C. Stetz, C.A. Castro, P.D. BlieseThe impact
of deactivation uncertainty, workload, and
organizational constraints on reservists'
psychological well-being and turnover
intentions Military Medicine, 172 (6) (2007),
pp. 576-580
[45] Scholarios, D., & Marks, A. (2004). Work-life
boundary, reciprocity, and attitudes to the
organization, the special case of the software
workers. Human Resource Management
Journal, 14:2, 54-74.
[46] Shahnaz Aziz, Jamie Cunningham,
Workaholism, work stress, work‐life imbalance:
exploring gender's role, emerald Insight,
ISSN: 1754-2413, Publication date: 7
November 2008
May – June 2020
ISSN: 0193-4120 Page No. 22852 – 22875
22875 Published by: The Mattingley Publishing Co., Inc.
[47] Stephen Nason, Cherrie Zhu , Helen De Cieri,
April 2002, An exploratory assessment of the
purposes of performance appraisals in north and
central america and the pacific rim, John
Milliman
[48] Taylor SE, Klein LC, Lewis BP, Gruenewald
TL, Gurung RA, UpdegraffJA,Psychol
Rev. 2000 Jul;107(3):411-29, Biobehavioral
responses to stress in females: tend-and-
befriend, not fight-or-flight, US National
Library of Medicine National Institutes of
Health
[49] Teo, C. & Waters, L. (2002). The role of HR
practices in reducing occupational stress and
strain: An examination of employees in
Singapore. International Journal of Stress
Management, 9(3), 207-226.
[50] Thomas Cox, Work-related stress, risk
management and Management Standard April
2004, Work and Stress 18(2):89-90, research
gate
[51] V. SrinivasanMulti generations in the
workforce: building collaboration IIMB
Management Review, 24 (2012), pp. 48-66
ArticlePDF
[52] Wright, Patrick M., Dunford, Benjamin B.,
Snell, Scott A., (2007). “Human Resources and
Resource-Based View of The Firm”, in: Randall
S. Schuler, Susan E. Jackson, Strategic Human
Resource Management, 2nd Edition, Blackwell,
USA, p.76.
[53] Wilson Banwell, G. Lowe, “Under Pressure:
Implication of Work-Life Balance and Job
Stress,” PROACT Human Solutions, Kingston,
2006.science research
[54] Yousef, 2000 D.A. YousefThe interactive
effects of role conflict and role ambiguity on job
satisfaction and attitudes toward organizational
change: A moderated multiple regression
approach International Journal of Stress
Management, 7 (4) (2000), pp. 289-303
[55] https://www.humanresourcesedu.org/what-is-
human-resources/, - definition of Human
resource management
[56] A/Prof Brian Delahaye, Performance appraisal:
Stressful for some. Dr. Geoff Carter School of
Management, Griffith University, Gold Coast
campus, Australia Email:
g.carter@griffith.edu.au and School of Learning
and Professional Studies, Queensland
University of Technology, Brisbane, Australia.
[57] Xiaoxi Chang, Yu Zhou, Chenxi
Wang & Carmen de PablosHeredero, How do
work-family balance practices affect work-
family conflict? The differential roles of work
stress, Springer journals
Measuring impact of factors influencing workplace stress with
respect to financial services
Ms. Hiral Borikar - Research Scholar, Gujarat Technological University
(GTU), Ahmedabad
Dr. Viral Bhatt - Research Guide, GTU and Director, SAL Institute of
Management, Ahmedabad
ABSTRACT:
Purpose: This is a cross sectional attempt of researcher to understand the level of stress
perception regarding the various aspects like Working hours and work load, environment and
culture, policies and system, Appraisal System.
Process: This paper presented after an extensive literature study, structured Questionnaire is
designed and opinion of 528 managers of different financial services institutes like Bank,
NBFC, Insurance, Mutual fund and stock market collected. Here researcher tried to derive the
impact of each factors on workplace stress in the area of financial services.
Practical implications: Unique attempt to quantify the stress which is most influencing to
create or increase level of stress in employees, that will help to human resource department to
frame the policies and design the work culture in such a manner that workplace stress can
manage optimum way and potential manager will associate with organization for the longer
tenure.
Tools: The data are analyzed by using Statistical Package Social Science (SPSS)
computer programmed version 25. The data analysis and interpretation is arranged according
to each variable.
Research limitations: We restrict our study that is in bank and NBFC.
Keywords: Financial services, Workplace stress, influencing factors of stress Paper Type: Research Paper
1.INTRODUCTION:
Stress is a normal reaction the body has when changes occur. It can respond to these changes
physically, mentally, or emotionally. A stressor is any event, experience, or environmental
stimulus that causes stress in an individual. These events or experiences are perceived as
threats or challenges to the individual and can be either physical or psychological.
(Aboa-Eboulé et al. 2007) The term ―stress‖ was first used by Hans Selye in 1936 to define
stress in biological terms as ―a non-specific response of the body to any demand of change‖.
(Aboa-Eboule, C. et al. 2011) His research led to the study of stress in brain functions. He
also defined ―stressors‖ as events that trigger a physiological and psychological response
from the organism, in order to distinguish stimulus from response.
(AbuAlRub, R. F.; Al-Zaru, I. M. 2008) In this context a stressor can be a biological agent,
an environmental condition, an external stimulus, or an event. Stress can define a negative
condition or a positive condition that responds to a stressor and that can have an impact on a
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1122
person‘s mental or physical health and wellbeing. I Today health is acknowledged as a
combination of biological, psychological (thoughts, emotions, and behavior), and social
(socio-economical, socio-environmental, and cultural) factors.
(Ahlborg, G. A. et al. 2012) For the ILO stress is the harmful physical and emotional
response caused by an imbalance between the perceived demands and the perceived resources
and abilities of individuals to cope with those demands. Work-related stress is determined by
work organization, work design and labour relations and occurs when the demands of the job
do not match or exceed the capabilities, resources, or needs of the employee, or when the
knowledge or abilities of an individual employee or group to cope are not matched with the
expectations of the organizational culture of an enterprise.
(Al Khalidi, D.; Wazaify, M. 2013) Psychosocial hazards such as increased competition,
higher expectations as regards performance and longer working hours are all contributing to
an ever more stressful working environment. In addition, owing to the current economic
recession that is augmenting the pace of organizational change and restructuring, employees
are increasingly experiencing precarious work, reduced work opportunities, fear of losing
their jobs, massive layoffs, unemployment, and decreased financial stability, with serious
consequences for their mental health and wellbeing. Work-related stress is now generally
acknowledged as a global issue affecting all professions and all employees in both developed
and developing countries. In this complex context, the workplace is at the same time an
important source of psychosocial risks and the ideal venue for addressing them with a view to
protecting the health and wellbeing of employees through collective measures.
Eustress:
(Dr. Michael Genovese, 2020) person rarely think of stress as a positive thing, but eustress is
just that — positive stress. Exciting or stressful events cause a chemical response in the body.
Eustress is usually a product of nerves, which can be brought on when faced with a fun
challenge.
Starting at a very early age, we are taught that adult life is ‗stressful.‘ In this
mindset, adulthood requires responsibility and achievement, which we accomplish
by challenging ourselves and feeling stressed. This traditional view of stress
implies that if we are not stressed, we are not striving to become our best selves.
(Kupriyanov, R., and Zhdanov, R. 2014) ―Eustress helps us stay motivated, work toward
goals, and feel good about life. Working and living outside of our comfort zone is a good
thing. Eustress produces positive feelings of excitement, fulfillment, meaning, satisfaction,
and well-being. Eustress is good because you feel confident, adequate, and stimulated by the
challenge you experience from the stressor.
Eustress occurs when the gap between what one has and what one wants is slightly pushed,
but not overwhelmed. The goal is not too far out of reach but is still slightly more than one
can handle. This fosters challenge and motivation since the goal is in sight. The function of
challenge is to motivate a person toward improvement and a goal
(Sullivan, Geraldine, July 2010) Eustress is primarily based on perceptions. It is how you
perceive your given situation and how you perceive your given task. It is not what is actually
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1123
happening, but a person‘s perception of what is happening Eustress is thus related to self-
efficacy. Self-efficacy is one‘s judgment of how they can carry out a required task, action or
role some contributing factors are a person‘s beliefs about the effectiveness about their
options for courses of action and their ability to perform those actions. If a person has low
self-efficacy, they will see the demand as more distressful than eustressful because the
perceived level of what the person has is lower. When a person has high self-efficacy, they
can skill in order to set goals higher and be motivated to achieve them. The goal then is to
increase self-efficacy and enable people to increase eustress.
Distress:
Distress is typically accompanied by feelings of overwhelm and anxiety, which are perceived
as negative and unwanted.
(Selye, H. Md 1974) Selye introduced the concept of positive stress, namely eustress in
1974. He extended his work in stress to distinguish eustress and distress in terms of
adaptiveness toward stress response, where eustress is ―healthy, positive, constructive results
of stressful events and stress response‖. Lazarus considers eustress as a positive cognitive
response to a stressor, which associated with positive feelings and a healthy physical state
Distress is the most commonly referred to type of stress, having negative implications. It
general term used to describe unpleasant feelings or emotions that impact your level of
functioning in other words; it is psychological discomfort that interferes with your activities
of daily living. Psychological Distress can result in negative views of the environment, others
and the self.
(Dr. Nanika Coor, 2020) Individual is out of his/her comfort zone – and it feels worrisome,
dangerous or even life threatening. This is a kind of stress that exceeds a person‘s physical,
emotional or psychological ability to cope with a situation. Distress hinders a person‘s ability
to function normally, communicate and think clearly. If it continues on a long-term basis, it
can become detrimental to a person‘s mental and physical health.
(Fevre, Mark Le; Kolt, Gregory S.; Matheny, Jonathan January 2006) Eustress and
distress may be measured on subjective levels such as of quality of life or work life, job
pressure, psychological coping resources, complaints, over all stress level and mental health.
The level of measurements mainly focuses on work, self efficacy, flow. The person will fall
on eustress or distress depends upon their mental perception of stressor like Work, Self
Efficacy, and Flow
On the other hand, positive stress, gives an extra burst of energy which helps people to
accomplish their dreams, achieve their goals and meet deadlines. It helps in developing
higher self- esteem, motivation and mental alertness. It is believed that Eustress promotes
employee well-being and leads to a motivated and satisfied work force. Eustress brings joy
and excitement to life which normally comes from completion of a difficult task at work
place or getting a note of appreciation from superiors at work place.
(Simmons 2000, Selye1983, Beard and Edwards 1995) Stress can be helpful and act as a
positive force that motivates people to accomplish more. Absence of stress can in fact lead to
a state of inertia. The authors believe that positive stressful conditions only create chances for
growth. Absence of which does not help in career advancement at all. Stress is an important
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1124
factor that contributes and helps in boosting career growth. Several studies support the
authors‘ views that Eustress is necessary for improved productivity in an organization.
Presence of an acceptable level of positive stress helps in motivating employees and enhances
their energy and performance. Positive stress is important for an employee for performing
effectively
Work Stress:
(Mary Gormandy White) Work stress is defined as stress that is generated due to
conflicting demands in one's job. The amount of control employees have over their workflow
can impact how significant work stress will be. While all work has an element of stress, true
work stress is harmful in that an employee has emotional and physical reactions to job
demands that are difficult to control.
According to World Health organization, Pressure at the workplace is unavoidable due
to the demands of the contemporary work environment. Pressure perceived as acceptable
by an individual, may even keep employees alert, motivated, able to work and learn,
depending on the available resources and personal characteristics. However, when that
pressure becomes excessive or otherwise unmanageable it leads to stress. Stress can
damage an employees' health and the business performance.
Work-related stress can be caused by poor work organization (the way we design jobs and
work systems, and the way we manage them), by poor work design (for example, lack of
control over work processes), poor management, unsatisfactory working conditions, and
lack of support from colleagues and supervisors.
Job stress is the harmful physical and emotional responses that occur when the requirements
of the job do not match the capabilities, resources, or needs of the employee.
If you work, it is likely that job stress will affect you at some point during your career.
Whether you are an employee or an employer, it is important to recognize that stress in the
workplace can contribute to poor health, which can lead to lower productivity, absenteeism,
and higher healthcare costs like:
● Up to 44% of women and 36% of men want to quit their jobs because of workplace
stress. This contributes to unhappiness as well as many negative health effects.
(Forbes, Aug, 2019)
● Healthcare expenditures are nearly 50% greater for employees who report high levels
of stress.( Journal of Occupational and Environmental Medicine)
● Sixty percent of lost workdays each year can be attributed to stress. (John Daly,
October, 2015)
● Job stress is more strongly associated with health complaints than financial or family
problems.
2.LITERATURE REVIEW:
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1125
There are different Factors Influencing workplace stress, in this study researcher has analyze
most relevant to financial services like workload, Role conflict, Role Ambiguity, Work
Environment, Work Culture, Policies and system, Appraisal and Job Control.
Work Overload:
Meaning: Measuring workload is to estimate the level of workload imposed by a task
by measuring how well the employee is able to perform a second task at the same time they
are performing the primary task. In this way, workload is estimated by measuring how much
―spare capacity‖ the employee has.
According to (Ahlam B. El Shikieri, 2012) in his study to determine the factors associated
with work stress and their relationship with organizational performance, the employees
suffered high levels of job stress. The job stressors affecting the employees included role
conflict and ambiguity, lack of promotion opportunities and feedback, lack of participation in
decision making, excessive workload, unsatisfactory working conditions and interpersonal
relations. The reported stressors were found to have positive and/or negative association with
the physical health of the employees, their performance and overall satisfaction about their
jobs as well as their commitment.
According to (Lailun Nahar, Afroza Hossain, Abdur Rahman, Arunavo Bairagi, 2013) in
the study of The Relationship of Job Satisfaction, Job Stress, Mental Health of Government
and Non-Government Employees of Bangladesh found that There is a significant positive
correlation between job stress and types of job. Significant job stress was found in case of
non-government employees, because, they feel less job security and high work load.
Significant negative correlation was found between job satisfaction and sex. Female
employees were less satisfied than male employees with their lower level jobs having with a
lower payment and as well as due to less social security.
(Poonam Negi 2013) The significance differences in the factors causing stress like workload,
time pressure, work culture and threat of unemployment were reported using a comparative
study between HDFC and SBI bank employees.
(Dr. Manisha, Reena Kumari Singh, Murthal) in the study of Problems Faced by
Working Women in Banking Sector found that The married female staff faced more
problems than unmarried like:- time management, work overload, work schedule control,
work hours etc. It is also observed that there is a cooperative attitude of bosses towards their
female staff that will decrease the mental pressure and depression. As well as family of
working women should also show cooperative attitude so that she can also find time for
herself and can enjoy both his family life and work life. The second problem that we found is
that number of working women was more in private sector banks as compared to government
sector bank so Government should encourage the women by giving them more opportunity to
work in government banks.
(Ganster & Loghan, 2005) Stress is an unwanted reaction of people has to severe pressures
or other types of demands placed upon them. A huge and multi fields literature points a lot of
key factors such as work environment, management support, work load etc. in determining
the stressful the work can be and its effect on employee physical and mental health.
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1126
Cooper et al., (2001), Workload, i.e., ―the amount of work that has to be performed‖, is one
of the most significant stressors, investigated in many studies. This source of physical and
psychological strain affects the individuals‟ health and their well-being at both high and low
levels of load. Workload can be quantitative (i.e., sheer amount of required work and a time
frame for the work to be completed) or qualitative (i.e., individuals‟ affective reactions to
their jobs).
Role Conflict / Role Ambiguity:
Meaning – Role Conflict:Role conflict occurs when there are incompatible demands placed
upon a person relating to their job or position. (Katz, D., & Kahn, R. L. 1978). Persons
experience role conflict when they find themselves pulled in various directions as they try to
respond to the many statuses they hold. (Gerber, Linda M.; Macionis, John J. 2010). Role
conflict can be something that can be for either a short period of time, or a long period
of time, and it can also be connected to situational experiences
Meaning – Role Ambiguity:A lack of understanding about job responsibilities and knowing
what is expected in terms of one‘s job performance is identified as role ambiguity or a lack of
role clarity. Employees who experience role ambiguity tend to perform at lower levels than
employees who have a clear understanding of job requirements and what is expected of them.
Experiencing role ambiguity can constrain customer-orientated behavior and, ultimately,
profitability.( Flaherty, T.B., Dahlstrom, R. and Skinner, S.J. 1999)
(Emin Kahya, 2007) in study of The effects of job characteristics and working conditions on
job performance, found The results showed that there were substantial relationships between
employee performance both job grade and environmental conditions. Poor workplace
conditions (physical efforts, environmental conditions, and hazards) result in decreasing
employee performance consisted of following organization rules, quality, cooperating with
coemployeess to solve task problems, concentrating the tasks, creativity, and absenteeism
(Pool SW, 1999) showed that the role conflict is related to job tension negatively related with
the job performance. The relationship was found significant of increase in role conflict will
make job tension higher and affect or harmed the work outcome or job performance of the
employees in organization.
(Health &Safety Executive UK) Stress condition which happens when one realizes the
pressures on them, or the requirements of a situation, are wider than their recognition that
they can handle, if these requirements are huge and continue for a longer period of time
without any interval, mental, physical or behavior problems may occur.
Work Environment / Culture:
Meaning:The term work environment is used to describe the surrounding conditions in
which an employee operates. The work environment can be composed of physical conditions,
such as office temperature, or equipment, such as personal computers. It can also be related to
factors such as work processes or procedures.(money zine.com).
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1127
Performance of an employee at his/her workplace is a point of concern for all the
organizations irrespective of all the factors and conditions. Consequently the employees are
considered to be very important asset for their organizations. (Qureshi & Ramay, 2006) A
good performance of the employees of an organization leads towards a good organizational
performance thus ultimately making an organization more successful and effective and the
vice versa (Armstrong, 2009). The problems arise for the organizations when they start
perceiving that their organizations are already performing at their level best and with great
efficiency furthermore, there is no need for further improvement in their organizations
(Summers & Hyman, 2005).
Lack of job security and job changes are source of pressures due to fear of skill redundancy
and future job change. Undoubtedly uncertain job security and the fear of layoff is also an
important source of psychological stress for some, especially during times of economic
contraction (William, 1995).
Intention to turnover is the desire a person has to leave a company. This desire increases
when the emotional commitment level of an employee decreases. Lee (2008) finds intent to
turnover to be the strongest indicator of actual turnover for an organization. Identifying
factors that increase turnover rate is important due to the impact turnover has on entire
organizations. This importance is stressed by Barry et al. (2007) who conclude that high a
turnover rate in any position will negatively affect all jobs of an organization. Bita et al.
(2010) further emphasize this importance by showing increased employee retention will
increase job performance. Bita, Naufal, Cortés, and Johnson (2010) reveal that lower job
satisfaction and changing duties lead to higher turnover rates. Barry, Brannon, Kemper,
Schreiner, and Vasey (2007) support this assertion by finding an association between work
overload and turnover.
Policies and System:
Meaning:A policy is a deliberate system of principles to guide decisions and achieve rational
outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol.
Policies are generally adopted by a governance body within an organization. Policies can
assist in both subjective and objective decision making. Policies to assist in subjective
decision making usually assist senior management with decisions that must be based on the
relative merits of a number of factors, and as a result are often hard to test objectively,
e.g. work-life balance policy. In contrast policies to assist in objective decision making are
usually operational in nature and can be objectively tested, e.g. password policy.(
sydney.edu.au. Retrieved 15 April 2018).
(Dr Geeta Nema, Dhanashree Nagar ,Yogita Mandhanya ) in the study of A Study on the
Causes of Work Related Stress Among the College Teachers found that The respondents are,
though not frequently, into stressful situation. These factors not only lead to reduction in the
productivity of the employees but also affect their physical and mental health. To overcome
this problem, proper administrative policies can be framed. Similarly, working environment
can be made more flexible but not on the grounds of output and productivity.
(Sai Mei Ling and Muhammad Awais Bhatti, 2014) in study of Work Stress and Job
Performance in Malaysia Academic Sector: Role of Social Support as Moderator found that
social support as moderator able to improve the job performance in workplace. Better stress
management have high tendency to solve employees problems in organization, top
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1128
management should concern about this issues and take appropriate effort to improve
employees‘ stress at workplace and increase the job performance.
Appraisal System:
Meaning:An appraisal is a formal opportunity to analyze your performance at work, which
also offers you a chance to talk to your employer about your career plans. Appraisals are not
required by law, but they can be useful for both you and your employer to review progress
and discuss wider work issues.(Unison.org)
(A.R. Elangovan & Jia Lin Xie, 2000) in the study of Effects of perceived power of
supervisor on subordinate work attitudes found that That perceived legitimate power and
coercive power of the supervisor were major predictors of subordinate stress, while perceived
legitimate power and reward power were important predictors of employee motivation.
Further, perceived coercive, reward and legitimate powers were all significant predictors of
subordinate commitment. Also, perceived coercive power was negatively associated with
subordinate satisfaction, while expert and referent powers were positively related to
satisfaction.
(Jacqueline Granleese) in study of Work pressures in banking: gender difference found that
Women are still experiencing unfairness in their daily working lives with some being
resigned to inequality, perceiving it as something they can do little about or fearing being
marked as a troublemaker. Until our paternalistic society learns to value women from birth to
death, we cannot rely only on government legislation to monitor the compliance and deviance
of employers who deny them equality of opportunity.
Lisa Michelle Russell (2014) have made an empirical Investigation to analyze the
relationship
between stress and burnout in high-risk occupations and how leadership moderates this
relationship and the Results indicate police stress exacerbates perceived burnout.
Transformational leadership influences this relationship such that high levels of perceived
transformational leadership attenuates the negative relationship between stress and burnout,
but less so under highly stressful conditions. Findings have strong implications for leaders in
high-risk occupations where bureaucracy, departmental policy, and life and death decision-
making intersect.
Job Control:
(Spector PE, Jex SM, 1998) According to the stated that there are three suggestions about
the relationships between job control and job stress. Firstly, perception of an individual
towards workplace stress will reduce if they face high job control over specific work
condition. Second, the job control in workplace will moderate the relationship between work
related stressors and stress, the relationship is weak between the working environmental
stressors and stress when consider job control is high but when job control low the
relationship between working environmental stressors and stress are high. Third, job control
consider have good sense to make decision. An employee will behave to solve problems in
workplace if level of job control high which create productive situation for the organization,
besides if a person do not have high level of job control he or she will has less confident to
handle a problem or situation in workplace.
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1129
(Greenberger DB, Strasser S, Cummings L, Dunham RB , 1989) stated that job control
has significantly and positively relationship with job performance. The result of the research
shows that employee have better mental health and job performance when there are high level
of acceptance compare with high job control.
3.RESEARCH GAP:
In other studies majority of researcher contributes the research in terms of establishing the
relationships among the various factors in manufacturing sectors or other. For the population
like workers or junior to middle level employees. The workplace stress and its influencing
factors are totally different for such population. It can be physical, related to pay, working
conditions, working environment, facilities, equipment‘s or related one.
While, in this study researcher emphasis on Banking, Non- Banking, Mutual fund, Insurance
and stock market. Population of research were Manager and above level i.e. higher
management. They have psychological or mental stress as they are in strategic planning and
execution in leading position dealt with rest of manpower in the organization. They are in
such level where they have to manage, control and achieve the target and take the
organization to the next level. Their workplace stress is related to high level of involvement
which can be extended even after working hours which reduce their relaxation period,
affected to family life and on health. Due to controlling position they are affected by role
conflict and ambiguity. Therefore researcher considered this unique variable in this study.
Appraisal system of this level of employees are different from rest of other employees in the
organisation and this leads to make employee feel stressed.
In demographic region population supposed to be on the designation of Manager for
minimum 7 years and more with educational qualification of Master degree or professional
degree in relevant area.
In geographical region, researcher has considered Gujarat, which is contributing 1/3 of
investment in financial services.
I. 4.RESEARCH OBJECTIVES:
1. To study the various factors related to stress in different financial institutes like
Banks, NBFC, Mutual fund, Insurance firm and equity dealers in various parts of the
Ahmedabad City, Gujarat, India.
2. To measure the impact of various factors with reference workplace stress
5. MEASUREMENT AND STRUCTURAL MODEL:
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1130
Researcher collected the data of 528 respondents with structured questionnaires, mainly
entire questionnaire design based on 35 different statements related to four independent
variables like Working hours and work load , environment and culture, policies and system,
Appraisal System. The purpose of research is to understand the impact of four independent
variables on dependent variable workplace Stress. The researcher first wants to analyze the
internal consistency of structured questionnaire, whether respondents understand the meaning
of the statements and they are consistent while giving the response of the various statements.
The questions are structured by using Likert Scale for the dependent and independent
variables sections and Category Scale for personal detail section. The descriptions for seven
Likert Scale which are, 1-Strongly Disagree, 2-Disagree, 3-Somewhat Disagree, 4-Neutral, 5-
Somewhat Agree, 6-Agree and 7-Strongly Agree.
6.RESEARCH PROCESS:
Research Design:
This is a cross sectional attempt of researcher to understand the level of stress perception
regarding the various aspects like Working hours and work load, environment and culture,
policies and system, Appraisal System. Here researcher evaluates the impact of all
independent variables on dependent variable i.e. overall workplace stress. This is unique
attempt made by researcher trying to derive new conclusions with fresh collection of data in
different geographical region, demographic profile and with different techniques. Therefore
the descriptive cross sectional research is obvious choice of researcher.
Sampling Design:
While collection of data with structured questionnaire, researcher applied purposive non-
probability sampling. Researcher is looking for the opinion from the respondents who are
Manager and above level with minimum 7 years of experience and having degree of Master
or professional in respective areas. Therefore, there is a specific purpose to select the
respondent to understand the opinion. Total 554 managers and above designated respondent
were approached. Where 26 incomplete responses not considered in the study. 109 responses
were collected through personal interview in office, 54 response collected at their home while
remaining 365 responses collected through online mode. Researcher has collected samples
from major cities of Gujarat like Ahmedabad (198), Surat (92), Baroda (95), Rajkot (45),
Anand (28), Jamnagar (20), Mehsana (15), and Bhavnagar (35). For the purpose of getting
the representative data, the researcher has selected the different financial institutes like
Banks, NBFC, Mutual fund, Insurance firm and stock broking agencies in various parts of the
Ahmedabad City, Gujarat, India.
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1131
Analytical tools and techniques:
Researcher applied the tools like reliability, descriptive and hierarchical regression to
understand the most influential factors amongst the all independent factors. Here researcher
applied summated scale to derive the value of independent and dependent variables. SPSS 25
is used for the statistical analysis purpose.
Data analysis and interpretation:
Table: 1
Case Processing Summary
N %
Cases
Valid 528 100.0
Excluded 0 .0
Total 528 100.0
a. List wise deletion based on all variables in the procedure.
Table: 2
Reliability Statistics
Cronbach's Alpha Cronbach's Alpha Based
on Standardized Items N of Items
.848 .846 35
Researcher applies the tools Cronbach‘s alpha to evaluate internal consistency of opinion
given by the respondents. Reliability table indicates the value of Cronbach‘s alpha is .848
considered desirable. It means researcher does not violate the assumption of reliability.
To achieve the basic purpose of this research, here researcher want to measure the impact of
various independent factors like Working hours and work load , environment and culture,
policies and system, Appraisal System on stress with respect to different financial sector.
Therefore researcher applies multiple regressions to evaluate the impact. The initial steps for
multiple regressions are to understand whether multiple regression models of independent
variables and dependent variable is valid or not.
Table: 3
Model Summary
Mode R R Adjuste Std. Change Statistics Change Statistics
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1132
l Squar
e
d R
Square
Error of
the
Estimat
e
R
Square
Chang
e
F
Chang
e
df
1 df2
Sig. F
Chang
e
1 .844
a
0.713 0.71 0.7752 0.7 324.4 4 52
3 0
Y = a + β01 (CF1) + β02 (CF2) + β03 (CF3) + β04 (CF4) + €
Where Y denotes overall Stress outcomes, a denotes constant, β01, β02, β03, β04 are the
respective regression coefficient on overall purchase outcomes and CF1, CF2, CF3, CF4
denote independent factors like Working hours and work load , environment and culture,
policies and system, Appraisal System respectively and € denotes error term.
H1: All the independent variables like Working hours and work load, environment and
culture, policies and system, Appraisal System having significant impact on workplace stress.
In the model summary it‘s clearly indicated that sig values .000 which is less than 0.05 it
indicates that all the independent variables sufficiently explain the variance on dependent
variables. Considering model summary value of R is .844 and value of coefficient of
determination R2
is .0.713. it means 71.3% changes in Stress because of all four independent
Working hours and work load , environment and culture, policies and system, Appraisal
System while remaining 28.70% changes occurs in the value of stress because of all
remaining factors. In the second column value of adjusted R2
is very close to coefficient of
the determination because all the four independent variables significantly contribute in the
changes of dependent variable. The value of coefficient of determination indicate that
variance explained by four independent factors contribute more than unexplained variance.
Table: 4: ANOVA Analysis and hypothesis
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 779.708 4 194.927 324.410 .000b
Residual 314.253 523 .601
Total 1093.961 527
a. Dependent Variable: OI
b. Predictors: (Constant), CF4, CF2, CF1, CF3
Table: 5
Coefficientsa
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1133
Model
Unstandardiz
ed
Coefficients
Standardize
d
Coefficients
t Sig
.
Correlation
s
Collinearity
Statistics
B Std.
Error Beta
Zero
-
orde
r
Par
t
Toleranc
e VIF
(Constant) -3.46 0.253
-
13.65
0
CF1 0.15 0.032 0.12 4.62 0 0.228 0.11 0.87 1.14
9
CF2 0.344 0.038 0.27 9.009 0 0.546 0.21 0.6 1.66
5
CF3 0.726 0.041 0.55 17.88
6
0 0.791 0.42 0.572 1.74
9
CF4 0.315 0.035 0.25 9.073 0 0.396 0.21 0.724 1.38 a. Dependent Variable: OI
Here researcher want to understand the individual impact of each factors on dependent
variable, since this is cross sectional research therefore researcher emphasize on
unstandardised coefficient. The coefficient table first column indicate the value of constant
and respective regression coefficients of independent variables shows their relative impact on
dependent variable overall stress outcomes.
H1: workload is having significant impact of workplace stress
H2: Work environment is having significant impact of workplace stress
H3: Policies is having significant impact of workplace stress
H4: Appraisal is having significant impact of workplace stress on stress
Here the fifth column in the coefficient table indicates the significant value for each
independent factor is .000, .000, .002 and .001 respectively all of which are less than 0.05
hence it shows that all the independent variables have a significant impact on the dependent
factor, which is stress.
β01=when Working hours and work load changes 1 unit it creates 0.15 changes in additional
value of workplace Stress outcomes
β02= when environment and culture on stress changes 1 unit it creates .344 changes in
additional value of workplace Stress outcomes
β03= when level of policies and system changes 1 unit it creates .726 changes in additional
value of workplace Stress outcomes
β04= when Appraisal System benefits changes 1 unit it creates .315 changes in additional
value of workplace Stress outcomes
From above value it is clearly indicated that, policies and system is most influential factor
responsible for creating additional workplace stress. Work Environment and culture is second
level of responsible factor for workplace stress. While Appraisal system and working hours
and load are on third and fourth important factors creating workplace stress respectively.
Y = a + β01 (CF1) + β02 (CF2) + β03 (CF3) + β04 (CF4) + €
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1134
Y=-3.46+0.15(Working hours and work load) + 0.344 (environment and culture) + 0.726
(policies and system) + 0.315 (Appraisal System) + €
Here its equally importance to evaluate whether the data is not affected by the issue of multi
colinearity, therefore here researcher applied the tools called tolerance and variance influence
factor (VIF) to understand multi colinearity in data. If we consider the last two columns of
tolerance and VIF, all the values of independent variables of tolerance is more than .10 and
all the values of VIF is less than 10. It indicates that researcher does not violate the
assumption of multi colinearity. Here researcher frames the Normality chart with Histograms,
shape of the chart is almost bell shape indicate researcher does not violate the assumption of
normality.
7.MANAGERIAL APPLICATIONS – CONCLUSION:
Both the research objectives were achieved through this study. The Multiple regression
analysis showed the impact of individual factors on workplace stress in Manager and above
level in different financial institutes like Banks, NBFC, Mutual Fund, Insurance and equity
dealers. Based on this findings, a model was developed that mentioned the independent
factors that influence the workplace stress namely working hours and work load, environment
and culture, policy and appraisal system.
The value derived from this study is clearly indicated that, policies and system is most
influential factor responsible for creating additional workplace stress. Work Environment and
culture is second level of responsible factor for workplace stress. While Appraisal system and
working hours and load are on third and fourth important factors creating workplace stress
respectively.
Here Manager and above level of employees facing highest level of workplace stress due to
Policies and system because it directly affected on their autonomy and decision making, job
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1135
role, leadership style, targets, performance, change of entire action plans and procedures and
finally on their performance pay.
Second factor of workplace stress is work environment and culture because disturbed and
unsuitable environment affects on transparency, concentration, confidentiality, liberty,
leadership, team management.
Third factor is Appraisal system because when higher level of employees are facing such
problems related to policies and work culture, are directly associated with their performance,
targets and on appraisal system which reduces their Increment, perks and promotions.
Last factor is work load and working hours where higher level of employees after many years
of experience are able to manage the timing and load.
To further validate the model and to compare in different financial institutes, multiple
regression analysis was applied. Through the findings, the model was validated and the
comparison showed that the impact of individual factor will vary in different variables.
This study contributes quantification of workplace stress in the financial services sector for
the higher level managers. Therefore policy makers can design their policies, strategies in
such a manner that these potential managers will associates with their organization for longer
tenures and it will help any financial services organizations in healthy way.
II. 8.REFERENCES:
1. Ashfaq Ahmed, Dr. Muhammad Ramzan (2013): Effects of Job Stress on Employees
Job Performance A Study onBanking Sector of Pakistan
2. Arnold B. Bakker, Willem Verbeke (2004), Using the Job Demands–Resources
Model to Predict Burnout and Performance, Human Resource Management 43(1):83
– 104
3. (Aboa-Eboulé et al. 2007. ―Job Strain and Risk of Acute Recurrent Coronary Heart
Disease Events‖ in Journal of the American Medical Association, Vol. 298, No.14,
pp. 1652-1660.)
4. (Aboa-Eboule, C. et al. 2011. ―Effort-reward imbalance at work and recurrent
coronary heart disease events: a 4-year prospective study of post-myocardial
infarction patients‖ in Psychosomatic Medicine, Vol. 73, No. 6, pp. 436-447. )
5. (AbuAlRub, R. F.; Al-Zaru, I. M. 2008. ―Job stress, recognition, job performance and
intention to stay at work among Jordanian hospital nurses‖ in Journal of Nursing
Management, Vol. 16, No. 3, pp. 227-236. )
6. (Ahlborg, G. A. et al. 2012. Work and family factors as predictors of stress-related
Exhaustion Disorder: A longitudinal study of Swedish healthcare employees, Paper
presented at the 30th International Congress on Work Health (March 18-23, 2012),
Cancun, Mexico.)
7. (Al Khalidi, D.; Wazaify, M. 2013. ―Assessment of pharmacists‘ job satisfaction and
job related stress in Amman‖ in International Journal of Clinical Pharmacy, Vol. 35,
No. 5, pp. 821-828. )
8. Ahlam B. El Shikieri, Science Research, 2012. Vol.3, No.1, 134-144, February 2012,
Factors Associated with Work Stress and Their Effects on Organizational
Performance in a Sudanese University
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1136
9. Cercarelli, L. R., & Ryan, G. A. (1996). Long Distance Driving Behavior of Western
Australian Drivers. Proceedings of the Second International Conference on Fatigue
and Transportation: Engineering, Enforcement and Education Solutions, Canning
Bridge, Promaco, 35-45.
10. David B Greenberger, Stephen Strasser Larry L Cummings, Randall B Dunham
Organizational Behavior and Human Decision Processes (February 1989) Volume 43,
Issue 1, Pages 29-51, The impact of personal control on performance and satisfaction,
11. Dr G Pincherle (1972), Fitness for Work: Assessment of the Relationship between
Stress and Work Performance, Proceedings of the Royal Society of
Medicine, Volume: 65 issue: 4, page(s): 321-324 Issue published: April 1, 1972
12. Daniel C. Ganster, Daniel C. Ganster, (2005), An Experimental Evaluation of a
Control Intervention to Alleviate Job-Related , Stress, Department of Management,
Walton College of Business, University of Arkansas, Fayetteville
13. Dr.C.N.Rawal, Ms. Shradha A. Pardeshi, (2014): Job Stress Causes Attrition among
Nurses in Public and Private Hospitals
14. Dr. Manisha, Reena Kumari Singh Department of Management Studies, DCRUST
Murthal, Sonepat, International Journal of Emerging Research in Management
&Technology ISSN: 2278-9359 (Volume-5, Issue-2), Problems Faced by Working
Women in Banking Sector
15. Dr Geeta Nema, Pacific Business Review - A Quarterly Refereed Journal, A Study on
the Causes of Work Related Stress Among the College Teachers
16. Dr. Michael Genovese, Eustress: The Good Kind of Stress, January 8, 2020,
Published by Adrenal Fatigue Team
17. Emin Kahya, (2007): The effects of job characteristics and working conditions on job
performance
18. Erickson, J. M., Pugh, W. M., & Gunderson, E. K. (1972). Status congruency as a
predictor of job satisfaction and life stress. Journal of Applied Psychology, 56(6),
523–525
19. French, J. R. P., & Caplan, R. D. (1972). Organization stress and strain. In A. J.
Marrow (Ed.), The failure of success (pp. 30-66). New York: Amacom.
20. Ferris Gerald. R., Gregory Bergin, T. & Sand J. Wayne. (1988). Personal
characteristics, job performance, and absenteeism of public school teachers. Journal
of Applied Social Psychology
21. (Fevre, Mark Le; Kolt, Gregory S.; Matheny, Jonathan (1 January 2006). "Eustress,
distress and their interpretation in primary and secondary work stress management
interventions: which way first? Journal of Managerial Psychology 21 (6):547–565.
doi: 10.1108/02683940610684391. )
22. Flaherty, T.B., Dahlstrom, R. and Skinner, S.J. (1999), Organizational values and role
stress as determinants of customer-oriented selling performance, Journal of Personal
Selling & Sales Management, Vol. 19 No. 2, pp. 1-18.
23. Gerber, Linda M.; Macionis, John J. (2010). Sociology (7th Canadian ed.). Pearson
Canada. p. 129. ISBN 978-0-13-800270-1
24. Hart, P.M. & Cooper, C.L. (2001). Occupational Stress: Toward a More Integrated
Framework. In N. Anderson, D.S. Ones, H.K. Sinangil, & C. Viswesvaran (Eds),
Handbook of Industrial, Work and Organizational Psychology (vol 2: Personnel
Psychology).
25. H. Ahmad, Khaliq Ahmad, Idrees Ali Shah (December 2010) Relationship between
Job Satisfaction, Job Performance Attitude towards Work and Organizational
Commitment, , European Journal of Social ,Sciences 18(2):257-26,
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1137
26. Jayanthy P Nair. & Joseph M.I. (2013). Correlates of job stress in policing: A
comparative study of women and men in police. International Research Journal of
Social Sciences.
27. Johnson S.J. (2001). Occupational stress among social employees and administration
employees within a social department. unpublished MSc. dissertation, University of
Manchester Institute of Science and Technology, Manchester.
28. KDV Prasad, Rajesh Vaidya, V Anil Kumar (2016), A Comparative Analysis:
Causes of Stress Among The Employees And Its Effect on The Performance At The
Workplace In Agricultural Research And Informaton Technology Sectors
29. (Kupriyanov, R., and Zhdanov, R. The eustress concept: Problems and outlooks.
World Journal of Medical Sciences 11, 2 (2014), 179–185)
30. (Katz, D., & Kahn, R. L. (1978). The social psychology of organizations 2ed. New
York City: John Wiley)
31. Lynley H. W. McMillan, Elizabeth C. Brady, Michael O'Driscoll, (August, 2002), A
multifaceted validation study of Spence and Robbins', Workaholism Battery,
Research Gate
32. Mark C. Johlke (2003), The Impact of Perceived Organizational Support. on the
Relationship between Boundary Spanner Role Stress and Work Outcomes, Journal of
Management 29:569-588
33. M. Gesinde and Gbadebo O Adejumo (2012), Effects of Age and Work Experience
on Job Satisfaction of Primary School Teachers: Implications for Career Counseling,
Abiodun International Journal of Asian Social Science, 2012, vol. 2, issue 3, 302-309
34. Nina Gupta & Terry A.Beehr (1979), Organizational Behavior and Human
Performance, Volume 23, Issue 3, June 1979, Pages 373-387, Job stress and employee
Kahn, R. L., Wolfe, D. M., Quinn, R. P., Snoek, J. D., & Rosenthal, R. A. (1964).
Organizational stress: Studies in role conflict and ambiguity. New York: Wiley
35. Kahn, R.L., & Quinn, R.P. 1970. Role stress: A framework for analysis, In A.
McLean (Ed.), Occupational mental health, New York: Wiley
36. Kahn, R. L., Wolfe, D. M., Quinn, R. P., Snoek, J. D., & Rosenthal, R. A. (1964).
Organizational stress: Studies in role conflict and ambiguity. John Wiley,
Organizational stress: Studies in role conflict and ambiguity., American Psychological
AssociationUdris (1981), "Stress in arbeitspsychologische r Sicht" , Stress Theorien,
Untersuchungen, Massnahmen. Berne, Verlag Hans Huber,
37. Lailun Nahar, Afroza Hossain, Abdur Rahman, Arunavo Bairagi - Department of
Psychology, University of Chittagong, Bangladesh & University of Dhaka, Dhaka,
Bangladesh, Science Research - Psychology 2013. Vol.4, No.6, 520-525 Published
Online June 2013 in SciRes (http://www.scirp.org/journal/psych), The Relationship of
Job Satisfaction, Job Stress, Mental Health of Government and Non-Government
Employees of Bangladesh
38. Marini, I., Todd, J. & Slate, J. (1995). Occupational Stress among Mental Health
Employees. Journal of Rehabilitation Administration, 19, 123-130.
39. McCubbin, H. I., &Figley, C. R. (Eds.). (1983). Coping with normative transitions
(Vol. 1). New York: Brunner/ Mazel
40. Osipow, S. H., & Spokane, A. R. (1987). Occupational Stress Inventory Manual
(Research Vision). Odessa, FL: Psychological Assessment Resources.
Psychology, Vol.7 No.13
41. Robert J.House John R.Rizzo (1972), Organizational Behavior and Human
Performance, Volume 7, Issue 3, June 1972, Pages 467-505, Role conflict and
ambiguity as critical variables in a model of organizational behavior
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1138
42. Randall S.Schuler (1980), Organizational Behavior and Human Performance, Volume
25, Issue 2, Pages 184-215, Definition and conceptualization of stress in organizations
43. R Anderson (2003), Stress at work: the current perspective, Journal of the Royal
Society for the Promotion of Health, Volume: 123 issue: 2, page(s): 81-87
44. Sai Mei Ling and Muhammad Awais Bhatti (2014), Work Stress and Job Performance
in Malaysia Academic Sector: Role of Social Support as Moderator, British Journal of
Economics, Management & Trade 4(12): 1986-1998
45. Spector, P. E., & Jex, S. M. (1998). Development of four self-report measures of job
stressors and strain: Interpersonal Conflict at Work Scale, Organizational Constraints
Scale, Quantitative Workload Inventory, and Physical Symptoms Inventory. Journal
of Occupational Health Psychology, 3(4), 356–367.
46. Simona Gilboa , Arie Shirom , Yitzhak Fried , Cary Cooper (2008), A Meta‐Analysis
Of Work Demand Stressors And Job Performance: Examining Main And Moderating
Effects, Personnel Psychology
47. Terry A. Beehr (2000), Work stressors and coworker support as predictors of
individual strain and job performance, Journal of Organizational Behavior 21(4):391
– 405
48. Stephen D.WebbDavid L.Smith (1980), Police stress: A conceptual overview, Journal
of Criminal Justice, Volume 8, Issue 4, 1980, Pages 251-257
49. SaqibUsman, M. Tahir Akbar, Dr. MuhammedRamzan (2013), Effect of Salary and
Stress on Job Satisfaction of Teachers in District Sialkot, Pakistan
50. Sai Mei Ling, and Muhammad Awais Bhatti, Work Stress and Job Performance in
MalaysiaS, Academic Sector: Role of Social Support as Moderator
51. Shahnaz Aziz and Jamie Cunningham (2017), Workaholism, work stress, work-life
imbalance: exploring gender‘s role
52. Stella E. Anderson, Betty S. Coffey, Robin T. Byerly, (2002), Formal Organizational
Initiatives and Informal Workplace Practices: Links to Work-Family Conflict and
Job-Related Outcomes, Journal of Management, vol. 28, 6: pp. 787-810.
53. (Sullivan, Geraldine (18 July 2010). "The Relationship Between Hope, Eustress, Self-
Efficacy, and Life Satisfaction Among Undergraduates". Social Indicators
Research101 (1): 155– 172. doi:10.1007/s11205-010-9662-z. )
54. (Selye, H. Md stress without distress. New York: The New Ameri-can Library (1974).
55. Sullivan, Geraldine (18 July 2010). "The Relationship Between Hope, Eustress, Self-
Efficacy, and Life Satisfaction Among Undergraduates". Social Indicators
Research101 (1): 155– 172. doi:10.1007/s11205-010-9662-z.
56. "Stressor". Collins English Dictionary – Complete & Unabridged 11th Edition.
Retrieved September 20, 2012, from CollinsDictionary.com.
Alochana Chakra Journal
Volume IX, Issue VI, June/2020
ISSN NO:2231-3990
Page No:1139
Recommended