CHAPTER – 1

INTRODUCTION

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TOPIC INTRODUCTION

MEANING OF JOB SATISFAC'I'ION:-

The term "Job satisfaction" was brought to limelight by Hoppock. He reviewed 32

studies on job satisfaction conducted prior to 1933. According to him "Job satisfaction

is the combination of psychological and environmental circumstances that cause a

person to truthfully say "I am satisfied with my job."

Organizational commitment and job satisfaction play important role in organization

behavior variables which still challenging for further research (Brown and Gaylor

2002). Job satisfaction is one important factor that influences positive employee

behavior (Arnett, Laurie, and McLane 2002). In other words, when individual is

satisfied with his Job, that individual feels more responsible and committed to the

organization.

Job satisfaction is defined as a positive emotional state resulting from evaluating one's

job experiences (Mathis and Jackson 2003). Job satisfaction can be achieved when

employees (1) enjoy their work (2) have a realistic opportunity about their career (3)

like the people with whom they work (4) they like and respect their supervisor, and (5)

believe their pay is fair.

The term, "job satisfaction" is commonly used by the academicians and the executive.

In the words of Feldman and Arnold, "Job satisfaction is the amount of overall positive

effect or feelings that individuals have towards their jobs."

"Job satisfaction is the amount of pleasure or contentment associated with a job. If you

like your job intensely, you will experience high job satisfaction. If you dislike your job

intensely, you will experience job dissatisfaction." Job satisfaction is an individual's

emotional reaction to the job itself which is his attitude towards his job.

The term relates to the total relationship between an individual and the employer for

which he is paid. Satisfaction does mean the simple feeling state accompanying the

attainment of any goal. Job satisfaction is the end feeling of a person after performing a

task. Research workers differently described the factors contributing to job satisfaction

and job dissatisfaction. Thus, job satisfaction is an employee's attitude towards his job.

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For many of us, the idea of finding a job that is really truly satisfying - the kind where

work isn't really work anymore - is pure fantasy. Sure, professional athletes, ski

patrollers and golf pros may have found a way of doing what they love and getting paid

for it. But is there actually anyone out there who dreams of sitting at a desk and

processing paper, or watching products fly by them on conveyor belts, or working to

solve other people's problems?

"Reframing" can help you find the good in a bad situation. For example, you receive a

less than perfect performance appraisal and your boss warns you to improve or move to

another job. Instead of taking it personally or looking for another job right away, look

for the silver lining. Depending on where you work, the silver lining may be attending

continuing education classes or working closely with a performance coach and having

the satisfaction of showing your boss that you're capable of change.

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JOB SATISFACTION IN RELATING TO OTHER

ASPECTS

Job satisfaction is further aided in its understanding by fro-ding relative importance, to

the employee, of the various factors contributing to it. Only, when such relative

importance of various factors is known to the management then proper action can be

taken.

To measure job satisfaction as developed by Porter is to find out the gap between what

the employee experiences about that particular factor in his actual condition and what

thinks should be there. This gap, along with the factor to the employee gives a clearer

understanding of the extent and nature of job satisfaction of the employees.

Job Satisfaction And Productivity or Work Performance:

The old view that `a happy worker is a productive worker' does not clarify the complex

relationship between job satisfaction and productivity. It was traditionally said that high

job satisfaction leads to improved productivity, decreased turnover, reduced accidents

and less job stress in the long run. But the relationship between job satisfaction and

productivity is not definitely established.

Earlier it was assumed that high job satisfaction led to high productivity but later

research indicated that this was an incorrect assumption. Satisfied workers turned out to

be either high producers or low producers. The satisfaction-productivity relationship

appeared to be quite complex being influenced by various intermediate factors such as

rewards that an employee receives.

The content theories of motivation assume a direct relationship between job satisfaction

and improved performance. The expectancy theories of motivation, however, recognize

the complexity of job motivation and consider in detail the relationship between

motivation, satisfaction and performance.

Job satisfaction does not necessarily lead to improved work performance. For example,

from the results of twenty studies, Vroom found no simple relationship, and only a low

median correlation (0.14) between job satisfaction and job performance.

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Porter and Lawler found that job performance leads to job satisfaction and not the other

way round. They argued that performance leads to two kinds of rewards- intrinsic and

extrinsic. The intrinsic rewards such as growth, challenging job, etc. stem from the job

itself and extrinsic rewards are under the control of management such as salary, bonus,

etc. intrinsic rewards are more closely related to satisfaction.

For instance, if a person performs well on a challenging assignment, he gets an

immediate feeling of satisfaction.

The lack of correlation between job satisfaction and performance can be explained as

follows, if a job holds little potential for intrinsic rewards, and if extrinsic rewards bear

a very little relationship to the performance level of the individual the resultant

connection between satisfaction and performance tends to be weak. In such a situation,

management should do two things:

Modify the job so that it becomes capable of yielding intrinsic rewards for

performance.

Correct the reward system so that it acts as an incentive for higher performance,

i.e., higher performance receives proportionally higher extrinsic rewards.

In practice, there may not be direct cause and effect relationship between job

satisfaction and productivity at lower levels because productivity at lower levels

because productivity is determined by outside factors like speed of machine, quality of

materials, type of supervision, etc. However, individual differences cloud the position.

The `average' workers do work hard when satisfied. But some' workers may work hard

in order to forget their lack of contentment, and other workers are more content when

their work requires modest or little effort.

JOB SATISFACTION AND ABSENTEEISM:

Although a number of definitions of absenteeism are available in literature, almost all

of them indicate absenteeism as absence from work when one is expected to work.

Absence from work could be attributes to either the inability or the unwillingness on

the part of employees to work. Any absence with prior notice and approval is, of

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course, not included in this definition. Thus, if a worker takes his earned leave with

prior approval, it is not counted as absenteeism. . However, a person being absent due

to unforeseen sickness is counted as an absent.

There is a negative relationship between satisfaction and absenteeism, though the

correlation is not high. It makes sense that dissatisfied workers are more likely to

abstain from work as compared to the satisfied workers. But even the satisfied workers

may absent themselves from the workplace to enjoy a three-day weekend. That means

outside factors can act to reduce the correlation 'between dissatisfaction and

absenteeism. The fact, however remains that the absence from work, irrespective of the

reasons, adds considerable cost to the process of output.

JOB SATISFACTION AND INTERPERSONAL INTERACTION:

Interpersonal relationship prevailing in the work group can be viewed as the

environment for the work group, which ultimately determines the attitudes, job

satisfaction and motivation of the individual and the group.

Interpersonal relationships have invariably, to develop through interpersonal

communication and interaction. If we look at the probability of mutual feelings of

human satisfaction and dissatisfactions base purely on interpersonal interaction

between any two persons in the work group and the subordinates of the group, the

alternatives will appear as:

Satisfying to Self Dissatisfying to self

Satisfying to

others

Level1 Level2

Obedience,

controlled discipline

Sympathy

love,

affection

Mutual

respect & trust

Dissatisfying to

others

Superiority dominance Hatred,

misunderstanding

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JOB SATISFACTION AND EMPLOYEE TURNOVER:

High employee turnover is of considerable concern for the management because it

disrupts normal operations, causes morale problems for those who stick on, and

increases the cost involved in selecting and training replacements. The employer must

do whatever possible to minimize turnover, make the employees feel satisfied on their

jobs.

Unlike the relationship betw.een satisfaction and productivity, the connection between

job satisfaction and employee turnover is established. It has been demonstrated that

workers who have relatively low levels of job satisfaction are most likely to quit their

jobs and that organizational units with the lowest average satisfaction levels tend to

have the highest turnover rates. However, the withdrawal behaviour of employee is

modified by certain factors. Loyalty to the organization is one such. Some employees

cannot judge themselves working elsewhere, however dissatisfied they are in their

present jobs.

JOB SATISFACTION AND ACCIDENTS:

Research on the relationship between job satisfaction and accident, generally shows

that the higher the higher the satisfaction with the job, the lower is the rate of accidents.

Though it is difficult to explain such a relationship but generally a satisfied employee

would not be careless or negligent and would encounter lesser possibilities of running

into an accident situation. The more favorable attitude towards job would make him

more positively inclined to his job.

JOB SATISFACTION AND ADJUSTMENT:

If the employee is facing problems general adjustment, it is likely to affect his work

life. Although it is difficult to define most adjustment most psychologists have been

able to narrow it down to what they call neuroticism and anxiety. .Neuroticism can be

examined in the, light of what is socially expected behavior has come to be identified as

neurotic behavior. Since, the socially desirable behavior may change from

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generation .to generation. Though it is very easy to know the symptoms of neuroticism

it is very difficult the causes. People with lower level of anxiety and lower level of

neuroticism are found to be more satisfied with their jobs.

JOB SATISFACTION AND UNIONISM:

In the Indian context where unions are strong and persuasive to think of job satisfaction

without unionism would be very unrealistic. Although a large number of workforces, in

rural sector, is not unionized, in large cities unions are a fact of life. If personnel

policies and practices of management are seen as dissatisfying, most workers tend to

see at the union official to settle their grievances. The purpose of unions is to protect

the economic interest of its members. So the managers consider the morale motivation

of the employees.

For one reason or the other, in India, the means to achieve ends have rather been

militant and disruptive to the process of productivity and production.

JOB SATISFACTION AND MORALE:

Morale is a condition, which exists in a context where people are:

Motivated towards high productivity,

Want to remain with organization,

Act effectively in crisis,

Accept changes without resentment,

Actually promote the interest of the organization,

Satisfied with the job.

According to this description of morale, job satisfaction is an important dimension of

morale. Morale is a general attitude of worker and relates to group while job

satisfaction is an individual feeling, which could be cause by a variety of factors

including group.

Morale phenomenon and job satisfaction is a distributive one. In other words, it is a

general attitude towards work by an individual worker. On the other hand, morale is a

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group phenomenon, which emerges as a result of adherence to group goals and

confidence in the desirability of these goals.

MOTIVATION, ATTITUDE AND JOB SATISFACTION:

Motivation implies the willingness to work or produce. A person may be talented and

equipped with all kinds of abilities and skills but may have no will to work.

Satisfaction, on the other hand, implies a positive emotional state, which may be totally

unrelated to productivity. Similarly, in the literature the term attitude and job

satisfaction are used interchangeably. However, a closed analysis may reveal that

perhaps; they measure two different anchor points. Attitudes are predispositions that

make the individual behave in a characteristic way across situations. They are

precursors to behavior and determine its intensity and direction. In this respect, job

attitudes and job satisfaction may have something in common.

JOB SATISFACTION AND OI2GANIZATIONAL OBJECTIVES:

Not much is known about how the overall goals of the organization contribute to the

degree of satisfaction/dissatisfaction. A study of the relationship between satisfaction

and organizational objectives may throw light on a variety of issues that otherwise may

not be possible. For example, such a study may help organizations to develop

organizational level plans to induce greater satisfaction, help the employees to develop

an identity with the organization, or just improve their commitment to work and loyalty

to the organization.

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THEORIES OF JOB SATISFACTION

The major theories of job satisfaction are:

Herzberg's Motivation Hygiene Theory

Need Fulfillment Theory

Discrepancy Theory

Equity Theory

Social Reference Theory

Two Factor Theory

1. HERZBERG'S MOTIVATION THEORY

This theory was developed by Herzberg, Manunser, Peterson and Capwell who

identified certain factors as satisfiers and dissatisfies. Factors such as recognition,

achievement, responsibility etc., are satisfiers, the presence of which causes satisfaction

but their absence does not causes dissatisfaction. On the other hand, factors such as

supervision, salary, working condition etc., dissatisfies the absence of which causes

dissatisfaction. The studies designed to test the theory failed to give any support to this

theory as both can't be there at the same time.

2. NEED FULFILLMENT THEORY

In this theory it is believed that a person is satisfied if gets what he wants, or the more

important it is to him, the more satisfied it is to him, the more dissatisfied he is when he

does not get it. Thus, the proponents of this theory measure satisfaction in terms of

rewards a person receives or the extent to which his needs are satisfied. Further they

thought that there is a positive relationship between job satisfaction and the actual

satisfaction of the expected needs. Job satisfaction cannot be regarded as merely a

function of how much a person receives from his job which is the limitation of this

theory.

3. DISCREPANCY THEORY

The proponents of this theory argued that satisfaction is the function of what a person

actually receives from his job situation and what he thinks he should receive, or what

he expects to ~receive. When the actual situation is less than the expected situation then

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it results in dissatisfaction. This approach does not make it clear whether or not over

satisfaction is a part of dissatisfaction and if so how does it differ from dissatisfaction.

4. EQUITY THEORY

The proponents of this theory are of the view that a person's satisfaction is determined

by his perceived equity, which in turn is determined by his input-output balance

compared to his comparison of others. Input output balance is perceived ratio of what a

person receives from his job relative to what he contributes to the job. This theory is of

the view that both under and over rewards lead to dissatisfaction while the under-

rewards cause feelings of unfair treatment over-reward leads to feelings of discomfort.

5. SOCIAL RETERNCE GROUP THEORY

This theory is similar to need fulfillment theory except that it takes into account not the

interests, needs of the individual in it defines the way in which he should look at the

world. It would be predicted that if a job meets the interests of the individual he will

like it and if it does not he will not like it. This theory gives an incomplete explanation

since some may go along with group opinions while some may go the other way.

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FACTORS CONTRIBUTING TO JOB SATISFACTION AND JOB

DISSATISFACTION:

Job satisfaction is a complex phenomenon. The nature and extent of factors

contributing to it are not yet fully known. But a good deal of research studies in various

countries with different cultures, which have accumulated by now, have try advanced

our understanding of the factors.

Factors in Job Satisfaction Factors in Job Dissatisfaction

Motivators/ Satisfiers/ Job Content Extrinsic/ Job Context/ Hygiene

Content

Achievement

Recognition

Work Itself

Responsibility

Advancement

Psychological Growth

Salary

Working conditions

Technical supervision

Job security

Status

Personal life

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Determinants of Job satisfaction

Environmental Factors

Personal Factors

Factors Controllable By The Management

Environmental Factors

These factors relate to the work environment, main among which are as follows:

1. Job Content = Herzberg suggested that job content in terms of achievement,

recognition, advancement and the work itself tend to provide satisfaction but their

absence does not cause dissatisfaction. Where the job is less repetitive, job

satisfaction tends to be higher.

2. Occupational level = the higher the level of the job in organizational hierarchy the

greater the satisfaction of the individual. This is because positions at higher level

are generally better paid, more challenging and provide greater freedom of

operation.

3. Pay and Promotion = All other things being equal, higher pay and better

opportunities for promotion lead to higher job satisfaction.

4. Work Group = man is a social animal and likes to be associated with others

interactions in the work group help to satisfy social and psychological needs and,

therefore, isolated workers tend to be dissatisfied.

5. Supervision = Consideration supervision tends to improve job satisfaction of

workers. A considerate supervisor takes personal interest in his subordinates and

allows them to participate in the decision-making.

Personal factors

Personal life exercises a significant influence on job satisfaction. The main elements of

personal life are given below:

1. Age = Some research studies reveal a positive correlation between age and job

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satisfaction. Workers in the advanced age group tend to be more satisfied probably

because they have adjusted with their job conditions. However, there is a sharp

decline after a point perhaps because an individual aspires for better and more

prestigious jobs in the later years of his life.

2. Sex = One study revealed that women are less satisfied than men due to fewer job

opportunities for females. But female workers are less satisfied due to their lower

occupational aspirations.

3. Education Level = Generally more educated employees tend to be less satisfied

with their jobs probably due to their higher job aspirations. However, research does

not yield conclusive relationship between these two variables.

4. Marital Status = The general impression is that married employees and employees

having more dependants tend to be more dissatisfied due to their greater

responsibilities. But such employees may be more satisfied because they value their

jobs more than unmarried workers.

5. Experience = Job satisfaction tends to increase with increasing years of experience.

But it may decrease after twenty years of experience particularly among people who

have not realized their job expectations.

FACTORS CONTROLLABLF BY THF MANAGEMENT

1. Salary = In case of manual and clerical workers wages were seldom mentioned as

satisfaction, while, in the discontented group, its inadequacy was looked upon as

the most important cause for dissatisfaction. Though the wage may be looked upon

as the most powerful incentive, it may not occupy the same, place only by itself in

determining satisfaction.

2. Security = It is the second most important preference out of various job factors

among Indian workers. In short while getting a job is of foremost important being

secured on the job is the very next requirement of the Indian worker.

3. Opportunity for Advancement = The fact that opportunity for advancement is so

highly ranked may lead to the interpretation that every worker will want to get

promotion and will feel satisfied in getting it. In reality, promotion is not available

to the majority of workers and the chances become less and less as one approaches

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the organizational pyramid.

4. Co-Workers = The relationship with co-workers is considered as the most

important satisfier among a group of highly skilled personnel. It is also found that

friendly people to work with was ranked fairly high by better performers whereas it

was ranked low by poorer performers.

5. Responsibility = Responsibility does not feature independently in the list of factors

people want most in their jobs. It however is an important factor which possibly

gets mixed with other factors like opportunity for advancement, type of work, etc.

MANIFESTATION OF JOB DISSATISFACTION

Job dissatisfaction is manifested by various forms. Lowery and Rusbult identified the

following forms:

Exist: Leave organization

Neglect: Absenteeism, late coming, reduces effort and increase errors.

Loyalty: Hoping the situation to improve without complaints or protests. Believe

organizations to improve satisfaction.

Voice: Actively work to improve the situation by putting up constructive suggestions

and criticism.

Exit Voice

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Neglect Loyalty

Destructive Constructive

RESPONSE TO JOB DISSATISFACTION

HUMAN NEEDS:

In order to get work done through people, managers must know the followings:

1. Do the needs change with the type of the person?

2. What happens if the needs are not satisfied?

3. What happens if the needs are not satisfied?

4. What should be done to make the work satisfying experience?

(A) Needs:

It is defined as the "lack of anything, requisite, desired or useful". Personal needs for an

individual vary from time to time. It also varies in intensity or degree. For example, one

may need a glass of water urgently or in due course. Needs creates tension which can

be mental or physiological.

Unsatisfied need motivates a person to behave in a particular manner to satisfy his

needs. For example a thirsty man goes in search of water. He may go to a near tap if he

perceives water will be available there. Once he gets water his need is satisfied and

tension is relieved. This searching behavior is called "Constructive Behavior".

(B) Hierarchy:

When there are a numbers of needs, some may be more important than others.

Arrangement of needs in their order of priority or ranking, either ascending or

descending order is called the hierarchy of needs.

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Unsatisfied Need

Tension Motive Perceived Behavior

Human Frustration:

When Human needs are not satisfied it leads to frustration. He will again try alternative

method to achieve his aim. If again he fails, he repeats the attempt. The number of

attempts depends on his personality. If all attempts fail, this frustration gets increased.

This may lead to "defensive behavior". Such persons are called "maladjusted" a "mal-

adapted" or "social inadequate". There are attempts to relieve tension arisen out of

frustration. When people adopt non-rational ways they are said to use defense

mechanism. Defense mechanism is not an effective step to solve the problem of

frustration it is a self-deception and apparent to protect individuals "self-concept'" or

'self image". Lawshe has classified defense mechanism into four types:

Aggression

Regression

Fixation

Resignation

Aggression

Here the frustration is manifested by attack outwards: It might be to the ``object"

perceived as the one causing obstruction to his goal. It may be sometime directed to

inanimate objects.

Regression

In this case the affected person behaves in an immature fashion and acts as persons

much below his age. Examples are uncontrolled crying, kicking.

Fixation

Here the affected person may continue to pursue. The same attempt, over and over

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Attempted Behavior

Goal Achieved

again, in which he has failed. This is a sort of "obsession" to the old things and habits.

JOB SATISFACTION INDEX

Sr. No.Total No. of

Attributes

Average mean score of

attribute’s response

Job Satisfaction

index (Mean x 100)

1. 10 2.50 250

2. 10 5.00 500

3. 10 2.50 250

4. 10 2.00 200

5. 10 2.50 250

6. 10 2.00 200

7. 10 3.33 333

8. 10 5.00 500

9. 10 3.33 333

10. 10 3.33 333

11. 10 3.33 333

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Graphical representation of the job satisfaction

index

0

100

200

300

400

500

600

1 2 3 4 5 6 7 8 9 10 11

Sr. No.

Total No. ofAttributes

Average mean scoreof attribute’sresponse

Average mean scoreof attribute’sresponse

Job Satisfactionindex (Mean x 100)

The job satisfaction index has greatly fallen down in 2008-2009

as compared to the 2007-2008.

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About hdfc

HDFC Bank (NYSE: HDB), one amongst the firsts of the new generation,

tech-savvy commercial banks of India, was incorporated in August 1994, after the

Reserve Bank of India allowed setting up of Banks in the private sector. The Bank was

promoted by the Housing Development Finance Corporation Limited, a premier

housing finance company (set up in 1977) of India. The Operating Profit for the

quarter ended June 30, 2009 grew by 47.8 % to Rs. 1518.7 crores over the

corresponding quarter of the previous year. Provisions (other than tax) and

contingencies for the quarter were Rs. 658.8 crores as against Rs. 657.4 crores in the

March 31, 2009 quarter .After providing Rs.253.7 crores for taxation, the Bank

earned a Net Profit of Rs. 606.1 crores , an increase of 30.5% over the corresponding

quarter ended June 30, 2008.

History

The Housing Development Finance Corporation Limited (HDFC) was amongst the first

to receive an 'in principle' approval from the Reserve Bank of India (RBI) to set up a

bank in the private sector, as part of the RBI's liberalization of the Indian Banking

Industry in 1994. The bank was incorporated in August 1994 in the name of 'HDFC

Bank Limited', with its registered office in Mumbai, India. HDFC Bank commenced

operations as a Scheduled Commercial Bank in January 1995.

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CHAPTER –3

RESEARCH

METHODOLOGY

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RESEARCH METHODOLOGY

INTRODUCTION

This chapter focuses on the methodology and the techniques used for the collection,

classification and tabulation of data. It shed lights on the research problem, the

objective of study and its limitations. The later part of this chapter explain the manner

in which the data is collected, classified, tabulated and so as to reach on conclusive

results. It is written game plan for concluding research. There for to design a research

problem it is necessary to design a research methodology as the same may differ from

problem to problem.

Research is any organized inquiry carried out to provide information for solving

problems. Business research is a systematic inquiry that provides information to take

business decisions.

Definition

“Research comprises of defining and redefining hypothesis or suggesting

solution, collecting, organizing and evaluating data making deductions and

reaching conclusions”. By

Cliford Woody

The term Research Methodology here comprises of all research activities

carried on in connection with the “Analysis is various schemes under Saving, Current

and Fixed Deposit Accounts Provided by HDFC Bank”.

The basis purpose of Research Methodology is to describe the research procedure. It

helps the researchers to the way to move on for carrying the study.

Formulation of research problem

Extensive literature survey

Research Design

Collection of data

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Analysis of Data

Interpretation

Recommendation

RESEARCH DESIGN

There are many definitions of research design, but no definition imparts the full range

of important aspects. Several examples from leading authors can be cited.

Research design is like arrangement of conditions for collection and analysis of

data that aims to combine relevance to the research purpose with economy in

procedures.

Research design is purely and simply the framework of plans for a study that

guides the collections and analysis of data.

Research design is the conceptual structure within which the research is

conducted.

These definitions differ in detail, but together they give the essentials of

research design. First, the design is a plan for selecting the sources and types of

information used to answer the research question. Second, it is a framework for

specifying the relationship amount the various variables. Third, it is a blueprint that

outlines each procedure from the hypothesis to the analysis of data. The design

provides answers for such questions as these :

Why the study is being made?

What techniques will be used togather data ?

What kind of sampling will be used?

How will time & cost constraints be dealt with?

How the data can be analysed? In my study the organization was HDFC Bank

and sample size was around 100 persons.

TYPES OF RESEARCH DESIGN

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Exploratory Research design

Descriptive/ Diagnostic Research Design

Experimental Research

Design

OBJECTIVES OF THE STUDY

The objective of this report is to gain an in-depth knowledge about the job satisfaction

received by the employees working in the HDFC bank.

To find out level of satisfaction among employees.

To enumerate the reasons contributing to job dissatisfaction.

To suggest solutions for eliminating the dissatisfaction discrepancies.

TO know how job satisfaction can be a daily source of source of stress.

TO know the ways to boost your job satisfaction.

To know the strategies to improve your job satisfaction.

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SCOPE OF STUDY

The scope has been limited to sample size of 100 respondents due to time and cost

constraints. However, the area of study with respect to geographical city of Jagadhri

and Yamuna Nagar.

DATA COLLECTION SOURCES

After the research problem has been defined and the research design has been chalked

out, the task of data collection begins. Data can be collected from either primary or

secondary source. In this study although the data was collected mainly through primary

sources, it was supplemented by secondary data.

For the collection of primary data, the respondents were contacted personally and the

tool for gathering the data was the questionnaire.

SOURCE OF DATA COLLECTION

To make the research complete it is very necessary to have useful and authentic data.

There are two types of data collection sources.

PRIMARY SOURCE OF DATA COLLECTION

Primary data are those, which are collected afresh & for the first time & this

happen to be original in character. In my project simple well drafted questionnaire was

circulated among all respondents. Full freedom was provided to an individual to answer

the questions.

Personal & Telephonic interviews, observation, personal opinion & viewpoints

of the respondents about the various schemes helped incompletion of the project.

SECONDARY SOURCES OF DATA COLLECTION

These are those which are collected by someone else & which have been passed

through statistical process.

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Brouchers, Manual, Journals, Magazines, Site of HDFC Bank and Various

Articles lot many inputs for successful completion of project.

SAMPLING DESIGN

The various sampling plans used in the study were as follows :

Random Sampling

In this sampling technique each and every unit of universe has the same chance of

being included in the sample and every unit is selected randomly out of population.

Judgement Sampling

In this investigator selects only those items, which represents the characteristics of

the problem under study. The judgement of the investigator plays an important role

in the type of sampling.

Convenience Sampling

In this the investigator choose the items according to his own convenience. The

sample size depends upon the convenience of the investigator but the chances of

inaccuracy and biasness are more.

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SAMPLING PROCEDURE

Sampling procedure refers to the procedure by which the respondents

should be chosen. In order to obtain a representative sample, convenience-

sampling method has been used in this study without any stratification to

obtain a uniform size of respondents.

a. Selection of Sample

Sample can ideally be selected as percentage of total population of

respondents to increase the accuracy and reliability of the sample. Hence, a

sample size of 100 respondents was appropriate to keep sample accurate as

well as manageable.

b. Sampling Unit

The unit refers to the definitions of the particular person who is to be

survey. In this study the unit is the respondents, which is operating in

Jagadhri and Yamuna Nagar.

c. Sampling Size

This refers to the procedure by which we describe the total number of

respondents from whom the information is to be collected. Here I have

select 100 respondents.

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Formation of Questionnaire

Quite often the questionnaire is considered as the heart of a survey

operation. Hence, it should be carefully constructed. In the words of Good

and Hatt,” In general, the word questionnaire refers to a device for

securing answer to questions by using a form in which the respondents fills

in himself”. All the questions in a questionnaire are framed with a specific

objective in mind and are placed in logical, sequential order. The

questionnaire framed for the purpose of the study consists of a limited

number of questions placed in a logical order. The questions were framed

keeping in mind the educational and social background of the companies

dealers. The questions were both open and closed ended as well as

multiple choices.

Classification of Data

It refers to the process of arranging data into homogenous classes.

Subsequent to the collection of data, the results were sorted out and

arranged in different categories.

Graphical Analysis

For presently the data in an organized form graphic method has been use

i.e. the data is mainly represented in the form of pie- graphs.

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SWOT ANALYSIS

STRENGTHS:

It has an extensive distribution network comprising of 535 branches in 312

cities & one international office in Dubai this provides a competitive edge over

the competitors.

The Bank has a strong retail depository base & has more than million

customers.

Bank has strong brand equity.

ISO 9001 certification for its depository & custody operations & for its backend

processing of retail operations & direct banking operation.

The bank is a market leader in cash settlement service for the major stock

exchanges in its country.

HDFC Bank is one of the largest private sector banks working in India.

It has a highly automated environment in terms of information technology &

communication system.

Infrastructure is one of the best in the country.

It has many innovative products like kids Advantage scheme, NRI services.

WEAKNESSES:

Account opening and delivery of cheque book take more time. Lack of

availability of different credit products like CC Limit, Bill discounting facilities.

Complicated terms and conditions of products, which is not easily

understandable by the layman.

OPPORTUNITIES:

Branch expansion

Door step services

Greater liberalization is foreign ownership via FDI in Indian Pvt. Sector banks.

30

Infrastructure movements & better systems for trading & settlement in the Govt.

securities & foreign exchange markets.

THREATS:

The bank has started facing competition from players like SBI, PNB in the

finance market itself. This may reduce the profit margins in the future.

Some Pvt. Banks have 7 days banking.

31

DATA COLLECTION

Data can be collected from either the Primary or Secondary sources. In this study

although the Data was collected mainly through Primary sources, it was supplemented

by Secondary sources.

32

Methods of Data Collection

P

R

I

M

A

R

Y

S

E

C

O

N

D

A

R

Y

Interview Method

Observation Method

Through Schedule

Questionnaire Method

Other Methods

Books, Magazines &

Newspapers

Public Records

Journals

Reposts

Collection of Data:

Two types of data were used:

Primary Data: Structured questionnaire was used to collect primary data.

It helped in getting the required information in a proper manner.

Secondary Data: Secondary Data was collected through company

brochures, journals, internet, magazines etc.

Instruments Used:

Questionnaire:

A questionnaire is simply a formalized set of questions for eliciting

information. Questionnaire is considered as the heart of survey operation.

Hence it should be very carefully constructed. Type of questions

comprising the questionnaire, used for survey is as follows:

Dichotomous Questions:

Mostly dichotomous type of questions is used in many questionnaires. In

these type of questions only two alternatives “Yes” or “No” are there.

Multiple type Questions:

In these types of questions, choice is provided to the respondent in the

form of 2 or 4 alternatives. Therefore the respondent can answer according

to his choice.

STATISTICAL TOOL AND TECHNIQUES OF ANALYSIS

Data collection through survey is analyzed using:-

33

Simple % Tabular

Graphic method that includes Bar Diagram, Pie Charts and

Methodology of project referred to the methods use to collect the required

data for the research work. The data required has been collecting from

following sources.

Primary Sources:-

Discussion with management

Interview with the concerned employee

Through questionnaire

Secondary Sources:-

Job Satisfaction Journals

HDFC Website

34

CHAPTER – 4

ANALYSIS OF DATA

Table-1

35

Respondent’s classification according to their satisfaction with work

response No. of Respondents %age

Extremely satisfied 8 16

Satisfied 12 24

neutral 13 26

dissatisfied 7 14

Extremely dissatisfied 10 20

0

5

10

15

20

25

30

Ext

rem

ely

satis

fied

satis

fied

neut

ral

neut

ral

extr

emel

ydi

ssat

isfie

d

No. of Respondents

%age

INTERPRETATION:

The above table indicates that 40 percent of respondents are satisfied with their nature

of work whereas 34 percent are not. And 26 percent are both neither satisfied, nor

dissatisfied. The respondents believe that their work is hard and difficult but

interesting.

Table-2

36

Respondents classification according to satisfaction regarding management relationship

response No. of Respondents %agestrongly satisfied 6 12

Satisfied 14 28

neutral 15 30dissatisfied 7 14

strongly dissatisfied 8 16

stro

ngly

satis

fied

Sat

isfie

d

neuy

ral

diss

atis

fied

stro

ngly

diss

atis

fied

No. of Respondents

%age

INTERPRETATION: The above table depicts that 40 percent of the respondents are satisfied with the

management relations whereas 30 percent are neutral and 40 percent are not satisfied.

Respondents believe that the promotions given to them are impartial.

. Table-3

37

Response regarding service orientation

response No. of Respondents %agevery satisfied 8 16

Satisfied 12 24

neuyral 15 30dissatisfied 9 18

very dissatisfied 6 12

No. of Respondents

very satisfied

Satisfied

neuyral

dissatisfied

very dissatisfied

INTERPRETATION:

The above table depicts that 40 percent of the respondents are satisfied with the service

orientation of the company whereas 30 percent are neutral and 30 percent are not

satisfied. 70 percent of respondents believe that the people with the right skills to meet

the customer needs.

Table-4Response regarding time management

38

Response No. of Respondents %ageStrongly agree 10 20

Agree 10 20uncertain 16 32Disagree 12 24

Strongly disagree 2 4

No. of Respondents

Strongly agree

Agree

uncertain

Disagree

Strongly disagree

INTERPRETATION:The above table depicts that 40 percent of the respondents strongly agree, 32 percent of

the respondents agree and 28 percent disagree with the time management of the

company. It clearly shows that majority of the respondents agree with the time

management of the company

Table-5

39

response regarding personal growth and development

Response No. of Respondents

%age

Satisfied 31 62dissatisfied 19 38

0

10

20

30

40

50

60

70

No. of Respondents %age

Satisfied

dissatisfied

INTERPRETATION:

The above table shows that 62 percent of the respondents are satisfied with the service

orientation of the company whereas 38 percent are not

Table-6

40

response regarding measurement and compensation

Response No. of Respondents %ageSatisfied 16 32

dissatisfied 34 68

0

10

20

30

40

50

60

70

80

No. of Respondents %age

Satisfied

dissatisfied

INTERPRETATION:

The above table depicts that 32 percent of the respondents are satisfied with the

measurement and compensation in the bank whereas 68percent are not. Respondents

believe that there is no proper system of performance appraisal and salary structure is

not good as compared to others.

Table-7

Response regarding working environment

41

Response No. of Respondents %ageSatisfied 25 50

dissatisfied 15 30Can’t say 10 20

No. of Respondents

Satisfied50%

dissatisfied30%

Can’t say20%

INTERPRETATION:

The above table depicts that 50 percent of the respondents are satisfied with the

environment whereas 30 percent are not , but 20 percent can’t say anything.

Respondents believe that the working atmosphere is friendly and they are provided

adequate facilities to do their job.

Table-8

Response regarding future orientation

42

Response No. of Respondents %agegrowing 32 64

Not growing 10 20Can’t say 8 16

No. of Respondents

growing

Not growing

Can’t say

INTERPRETATION:

The above table depicts that 64% of the respondents are satisfied with the future

orientation of the company whereas 20 percent not and 16 percent can’t say anything

about future orientation. Respondents believe that the company has a bright future

orientation.

Table-9

Response regarding quality circle

43

satisfaction No. of Respondents %age

Good 30 60

fair 11 22

poor 9 18

0

10

20

30

40

50

60

Good better worst

No. of Respondents

%age

INTERPRETATION:

The above table depicts that 60% of the respondents are satisfied with the quality circle

of the company whereas 22 percent are say about fair satisfaction and 18 percent are

with poor satisfaction . Respondents believe that quality circles help in improving

teamwork and also help in itself development.

Table-10

Response regarding ethic

44

response No. of Respondents %ageVery important 10 20Fairly important 14 28

neutral 16 32Not so important 7 14

Not at all important 3 6

0

5

10

15

20

25

30

35

Veryimportant

Fairlyimportant

neuyral Not soimportant

Not at allimportant

No. of Respondents

%age

INTERPRETATION:

The above table depicts that 48 percent of the respondents gives response that the ethic

are important for bank, 32 percent respondents says that neutral and 20 percent says

that not important for bank. Respondents believe that the management always keeps its

promises.

SUGGESTIONS

45

Job satisfaction is person’s emotional response to the aspects of

work (such as pay, benefits)or the work itself. It is determined by various

factors e.g. how well our needs and wants are met through work, work

conditions, sense of belongingness to the company, self achievement,

personality traits and so on.

Conventional theory believed that high satisfaction causes high

performance. However, modern theory suggests that the relationship

may be the other way round, i.e. high performance provides high

satisfaction which is reinforced by rewards.

Consequences of dissatisfaction are defensive behaviour, sabotage,

absenteeism and turnover. When employees perform below their full

potential, the organisation suffers from reduced effectiveness and

efficiency. The cost of absenteeism and turnover are the concern of

managers.

A job that is rewarded fairly, a service that is recognized by the

employer or clients. Rewards granted to the employees can further

increase job satisfaction and morale of the employees.

46

CHAPTER- 5FINDINGS

47

FINDINGS I was given the opportunity to conduct survey on the behalf of

the HDFC bank. During the survey I met different people and

collected the information through the questionnaire from these people.

I also collected information from other source like company

brochures, journals, internet, magazines etc.

After studying the data obtained from the respondents and other

sources I am able to say following things of my study.

Hdfc bank has a very good reputation in the mind of the

investors as an integral service provider and offering a large variety of

the services. Hdfc bank is known by the majority of the public for its

services.

As I have already mention by graphical representation that job

satisfaction index has fallen down in 2008-2009 as

compared to 2007-2008

Frequently conduction of training and development programs.

Cooperative nature of employees.

Management relations are strong.

Factors such as supervision, salary and working conditions are

dissatisfy.

48

CONCLUSION

Job satisfaction is a pleasure or positive emotional state resulting from

the appraisal of one’ s job. There a number of outcomes of job satisfaction as its results

in fewer work grievances and less needed to learn new job related tasks. Most recently,

satisfied workers have been found to exhibit prosocial “citizenship” behaviours and

activities.

Moreover closely related to job satisfaction is the organisational

commitment attitude. It involves the employee’s loyalty to the organizational and is

determined by a number of personal, organizational, and non organizational variables.

Commitment has been conceived as having three components: effective, continuance

and normative. In the same way job satisfaction, the organizational commitment has

mixed results but in general it is thought to have stronger relationship with

organizational outcomes such as employee turnover and absenteeism.

49

LIMITATIONS OF THE STUDY

The limitation of the study includes the weak points that are not covered during the

study. A person can’t analyze all aspects of the study. Sometimes he forgot some

factors or sometimes he is not able to study the impact of these factors because of time

constraints or limited recourses.

TIME CONSTRAINT : time posed to be as a major hurdle in the study.

Many

things had to be left just because of time constraint.

LACK OF CO OPERATION : some employees resisted to answer to

questions

and to fill in the questionnaires

BIASNESS :some employees filled in the questionnaires without thinking

and were

afraid to give their original view point which introduced biasness in the study.

SECRECY : some of the information was kept confidential and was not

disclosed

LESS AWARENESS : less awareness among people resulted in a non

availability of

sufficient data.

QUESTIONNAIRE

50

NAME:

AGE: SEX:

OCCUPATION: PHONE NO.:

1. Are you satisfied with the nature of your work?

Extremely satisfied satisfied neutral dissatisfied

extremely dissatisfied

2. Are you satisfied with your relationship with management?

strongly Satisfied satisfied neutral Dissatisfied strongly

dissatisfied

3. Are you satisfied with service orientation of the company?

strongly Satisfied satisfied neutral Dissatisfied strongly

dissatisfied

4. Do you agree with the time management of the company?

Strongly Agree agree neutral disagree strongly

disagree

5. Are you satisfied with your personal growth and development?

Satisfied Dissatisfied

6. What are views regarding the system of performance appraisal?

Satisfied Dissatisfied

7. What are your views regarding your working environment?

51

satisfied Not satisfied can’t say

8. What are your views regarding the future prospects of the company?

Achieving growth not achieving growth can’t say

9. What are your views regarding the working of quality circles?

Good fair poor

10. What are your views regarding the ethics of organisation?

Very important fairly important neutral not so important

not at all important

11. Suggestions:

Place:

Date:

BIBLIOGRAPHY Books :

52

Gupta C.B. “HRM”

Cubo Rao “HRM”

Ashwathapa, P.M.&HRM Co. Ltd., NEW Delhi

Kothari C.R., Research methodology: New Delhi, Bangalore,

Calcutta, lucknow, Mumbai.

Divedi, “HRD”.

V.s.p.rao, “HRM”

Websites

www.hdfcbank.com

www.hr-guide.com

www.explorehr.com

www.google.com

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