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A
PROJECT REPORT
ON Training Undertaken at
ICICI BANK
“ Work Life Balance in Banks”
Submitted in partial fulfillment for the Award of degree of
Master of Business Administration
SESSION
Submitted By- Project Guide:-
Priyanka vyas Mrs.Shweta
Tiwari
MBA Sem. – IV Assistant Prof.
2007-09
AISHWARYA INSTITUTE OF MANAGEMENT & IT
ADARSH NAGAR, UNIVERSITY ROAD
UDAIPUR (RAJ), 313001
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Preface
The management of the human resource is very complicated and challenging task for those
who are entrusted with successfully running of an organization and this implies considerable
knowledge of various aspects of human resource management.
The discipline of human resource management has gained importance since profession
allegation of management.
Work-life balance is about effectively managing the juggling act between paid work
and the other activities that are important to people. It's not about saying that work is
wrong or bad, but that work shouldn't completely crowd out the other things thatmatter to people like time with family, participation in community activities, voluntary
work, personal development, leisure and recreation.
The 'right' balance is a very personal thing and will change for each person at
different times of their lives. For some people the issue is being able to get into work
or find more work rather than having too much work. There is no 'one size fits all'
solution.
A balanced life is one where we spread our energy and effort - emotional,
intellectual, imaginative, spiritual and physical – between key areas of importance.
The neglect of one or more areas, or anchor points, may threaten the vitality of the
whole.
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Acknowledgement
I express my sincere thanks to my project guide,Mrs. Shweta Tiwari Assistant prof.HR, for guiding me right from the inception till the successful completion of the
project. I sincerely acknowledge for extending their valuable guidance, support for
literature, critical reviews of project and the report and above all the moral support
he/she/they had provided to me with all stages of this project.
I would also like to thank the supporting staff Department, help and cooperation
throughout our project.
(Signature of Student)
Name of the Students
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EXECUTIVE SUMMARY
Work life & family life are two sides of a coin, both the aspects are equally important
for an individual’s life. In the zooming ahead scenario it has become quite difficult to
have an equal balance between the work & family life. So, here starts the framework
of this major research project.
The study is based on analysis of work life balance in banking sector which is of
great importance for each & every employee. The study covers various angles of
family life and work life stress situation and remedial actions.
Work life balance is an umbrella term for expectations, events, practices, structures,
or rules that stop us from getting the most out of work and the rest of our lives.
Issues such as working hours, and leave entitlements, workplace stress, workplace
discrimination, employees terms and conditions, health and safety concerns, the
two-tier workforce, pay levels and the living wage all have an impact on our "work life
balance.”
The work life and family life imbalance causes stress and strain especially to the
executives as they have very less time to be with their members of the family. There
are various factors which cause stress & therefore a study is found necessary.
For conducting the study various banks such as ICICI Bank, HDFC Bank, Centurion
Bank, State Bank of Bikaner & Jaipur, Bank of Baroda, State Bank of India etc at
Udaipur city are selected because here the employees have to spend most of their
time in the Bank and this results in stress in their work life and family life. Therefore
methods and techniques to tackle this situation has become need of the hour.
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CONTENTS
Certificate from the Organization
Preface
Acknowledgement
Executive Summary
1. Introduction to the Industry
2. Introduction to the Organization
3. Research Methodology
0 3.1 Title of the Study
1 3.2 Duration of the Project
2 3.3 Objective of Study
3 3.4 Type of Research
4 3.5 Sample Size and method of selecting sample
5 3.6 Scope of Study
6 3.7 Limitation of Study
4. Findings
5. Analysis and Interpretation
6. Conclusion
7. Recommendation
8. Appendix
9. Bibliography
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INTRODUCTION OF THE INDUSTRY
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Analysis of Work Life Balance in Banks
A
PRESENTATION
INDUSTRY PROFILE
What is banking?
Bank may be defined as a financial institution which is engaged in the
business of keeping money for savings and checking accounts or for exchange or
for issuing loans and credit etc.
A set of services intended for private customers and characterized by a
higher quality than the services offered to retail customers.
Based on the notion of tailor-made services, it aims to offer advice on
investment, inheritance plans and provide active support for general transactions
and the resolution of asset-related problems.
The essential function of a bank is to provide services related to the storing of
deposits and the Extending of credit.
Basic function may include Credit collection, Issuer of banking notes,
Depositor of money and lending loans.
Now a days banking is not in its traditional way, with the advancement of technology
its focusing on more comfort of customer providing services such as:
• Online Banking
• Investment Banking
• Electronic Banking
• Internet Banking
• Pc Banking /Mobile Banking
• E-Banking
The importance of banking sector is immense in the progress and prosperity of any
State or country.
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INDIAN BANKING INDUSTRY
The growth in the Indian Banking Industry has been more qualitative than
quantitative and it is expected to remain the same in the coming years. Based on
the projections made in the "India Vision 2020" prepared by the Planning
Commission and the Draft 10th Plan, the report forecasts that the pace of expansion
in the balance-sheets of banks is likely to decelerate. The total assets of all
scheduled commercial banks by end-March 2010 are estimated at Rs 40, 90,000crores. That will comprise about 65 per cent of GDP at current market prices as
compared to 67 per cent in 2002-03. Bank assets are expected to grow at an annual
composite rate of 13.4 per cent during the rest of the decade as against the growth
rate of 16.7 per cent that existed between 1994-95 and 2002-03. It is expected that
there will be large additions to the capital base and reserves on the liability side.
Banks in India can be categorized into non-scheduled banks and scheduled banks.
Scheduled banks constitute of commercial banks and co-operative banks. There are
about 67,000 branches of Scheduled banks spread across India. During the first
phase of financial reforms, there was a nationalization of 14 major banks in 1969.
This crucial step led to a shift from Class banking to Mass banking. Since then the
growth of the banking industry in India has been a continuous process.
The Public Sector Banks (PSBs), which are the base of the Banking sector in India
account for more than 78 per cent of the total banking industry assets. Unfortunately
they are burdened with excessive Non Performing assets (NPAs), massive
manpower and lack of modern technology. On the other hand the Private Sector
Banks are making tremendous progress. They are leaders in Internet banking,
mobile banking, phone banking, ATMs. As far as foreign banks are concerned they
are likely to succeed in the Indian Banking Industry.
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Indus land Bank was the first private bank to be set up in India. In the Indian
Banking Industry some of the Private Sector Banks operating are IDBI Bank, ING
Vyasa Bank, SBI Commercial and International Bank Ltd, Dhanalakshmi Bank
Ltd,Karur Vysya Bank Ltd, Bank of Rajasthan Ltd etc are some private sector
banks. Banks from the Public Sector include Punjab National bank, Vijaya Bank,
UCO Bank, Oriental Bank, Allahabad Bank , Andhra Bank etc.
ANZ Grind lays Bank, ABN-AMRO Bank, American Express Bank Ltd, Citibank are
some of the foreign banks operating in the Indian Banking Industry
Banking in India originated in the last decades of the 18th century. The
oldest bank in existence in India is the State Bank of India, a government-owned
bank that traces its origins back to June 1806 and that is the largest commercial
bank in the country. Central banking is the responsibility of the Reserve Bank of
India, which in 1935 formally took over these responsibilities from the then Imperial
Bank of India, relegating it to commercial banking functions. After India's
independence in 1947, the Reserve Bank was nationalized and given broader
powers. In 1969 the government nationalized the 14 largest commercial banks; the
government nationalized the six next largest in 1980.
Currently, India has 88 scheduled commercial banks (SCBs) - 27 public sector
banks (that is with the Government of India holding a stake), 31 private banks
(these do not have government stake; they may be publicly listed and traded on
stock exchanges) and 38 foreign banks. They have a combined network of over
53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating
agency, the public sector banks hold over 75 percent of total assets of the banking
industry, with the private and foreign banks holding 18.2% and 6.5% respectively.
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Analysis of Work Life Balance in Banks
Banking in India originated in the last decades of the 18th century. The first banks
were The General Bank of India, which started in 1786, and the Bank of Hindustan,
both of which are now defunct. The oldest bank in existence in India is the State
Bank of India, which originated in the Bank of Calcutta in June 1806, which almost
immediately became the Bank of Bengal. This was one of the three presidency
banks, the other two being the Bank of Bombay and the Bank of Madras, all three of
which were established under charters from the British East India Company. For
many years the Presidency banks acted as quasi-central banks, as did their
successors. The three banks merged in 1925 to form the Imperial Bank of India,
which, upon India's independence, became the State Bank of India.
Indian merchants in Calcutta established the Union Bank in 1839, but it failed in
1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank,
established in 1865 and still functioning today, is the oldest Joint Stock bank in
India. It was not the first though. That honor belongs to the Bank of Upper India,
which was established in 1863, and which survived until 1913, when it failed, with
some of its assets and liabilities being transferred to the Alliance Bank of Simla.
When the American Civil War stopped the supply of cotton to Lancashire from the
Confederate States, promoters opened banks to finance trading in Indian cotton.
With large exposure to speculative ventures, most of the banks opened in India
during that period failed. The depositors lost money and lost interest in keeping
deposits with banks. Subsequently, banking in India remained the exclusive domain
of Europeans for next several decades until the beginning of the 20th century.
Foreign banks too started to arrive, particularly in Calcutta, in the 1860s. The
Comptoire d'Escompte de Paris opened a branch in Calcutta in 1860, and another
in Bombay in 1862; branches in Madras and Pondichery, then a French colony,
followed. HSBC established itself in Bengal in 1869. Calcutta was the
Most active trading port in India, mainly due to the trade of the British Empire, and
so became a banking center.
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The Bank of Bengal, which later became the State Bank of India.
The first entirely Indian joint stock bank was the Oudh Commercial Bank,
established in 1881 in Faizabad. It failed in 1958. The next was the Punjab National
Bank, established in Lahore in 1895, which has survived to the present and is now
one of the largest banks in India.
Around the turn of the 20th Century, the Indian economy was passing through a
relative period of stability. Around five decades had elapsed since the Indian Mutiny,
and the social, industrial and other infrastructure had improved. Indians had
established small banks, most of which served particular ethnic and religious
communities.
The presidency banks dominated banking in India but there were also some
exchange banks and a number of Indian joint stock banks. All these banks operated
in different segments of the economy. The exchange banks, mostly owned by
Europeans, concentrated on financing foreign trade. Indian joint stock banks were
generally under capitalized and lacked the experience and maturity to compete with
the presidency and exchange banks. This segmentation let Lord Curzon to observe,
" In respect of banking it seems we are behind the times. We are like some old
fashioned sailing ship, divided by solid wooden bulkheads into separate and
cumbersome compartments."
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The period between 1906 and 1911, saw the establishment of banks inspired by the
Swadeshi movement. The Swadeshi movement inspired local businessmen and
political figures to found banks of and for the Indian community. A number of banks
established then have survived to the present such as Bank of India, Corporation
Bank, Indian Bank, Bank of Baroda, Canara Bank and Central Bank of India.
The fervour of Swadeshi movement lead to establishing of many private banks in
Dakshina Kannada and Udupi district which were unified earlier and known by the
name South Canara ( South Kanara ) district. Four nationalized banks started in this
district and also a leading private sector bank. Hence undivided Dakshina Kannada
district is known as "Cradle of Indian Banking". The period during the First World
War (1914-1918) through the end of the Second World War (1939-1945), and two
years thereafter until the independence of India were challenging for Indian banking.
The years of the First World War were turbulent, and it took its toll with banks simply
collapsing despite the Indian economy gaining indirect boost due to war-related
economic activities. At least 94 banks in India failed between 1913 and 1918 as
indicated in the following table:
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YearsNumber of banks
that failed
Authorized capital
(Rs. Lakes)
Paid-up Capital
(Rs. Lakes)
1913 12 274 35
1914 42 710 109
1915 11 56 5
1916 13 231 4
1917 9 76 25
1918 7 209 1
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By the 1960s, the Indian banking industry has become an important tool to facilitate
the development of the Indian economy. At the same time, it has emerged as a
large employer, and a debate has ensued about the possibility to nationalize the
banking industry. Indira Gandhi, the-then Prime Minister of India expressed the
intention of the GOI in the annual conference of the All India Congress Meeting in a
paper entitled "Stray thoughts on Bank Nationalization." The paper was received
with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI
issued an ordinance and nationalized the 14 largest commercial banks with effect
from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India,
described the step as a "masterstroke of political sagacity." Within two weeks of the
issue of the ordinance, the Parliament passed the Banking Companies (Acquisition
and Transfer of Undertaking) Bill, and it received the presidential approval on 9
August, 1969.
A second dose of nationalization of 6 more commercial banks followed in 1980. The
stated reason for the nationalization was to give the government more control of
credit delivery. With the second dose of nationalization, the GOI controlled around
91% of the banking business of India. Later on, in the year 1993, the government
merged New Bank of India with Punjab National Bank. It was the only merger
between nationalized banks and resulted in the reduction of the number of
nationalized banks from 20 to 19. After this, until the 1990s, the nationalized banksgrew at a pace of around 4%, closer to the average growth rate of the Indian
economy.
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Analysis of Work Life Balance in Banks
The nationalized banks were credited by some, including Home minister P.
Chidambaram, to have helped the Indian economy withstand the global financial
crisis of 2007-2009
In the early 1990s, the then Narsimha Rao government embarked on a policy of
liberalization, licensing a small number of private banks. These came to be known
as New Generation tech-savvy banks, and included Global Trust Bank (the first of
such new generation banks to be set up), which later amalgamated with Oriental
Bank of Commerce, Axis Bank(earlier as UTI Bank), ICICI Bank and HDFC Bank.
This move, along with the rapid growth in the economy of India, revitalized the
banking sector in India, which has seen rapid growth with strong contribution from
all the three sectors of banks, namely, government banks, private banks and foreign
banks.
The next stage for the Indian banking has been setup with the proposed relaxation
in the norms for Foreign Direct Investment, where all Foreign Investors in banks
may be given voting rights which could exceed the present cap of 10%,at present it
has gone up to 49% with some restrictions.
The new policy shook the Banking sector in India completely. Bankers, till this time,
were used to the 4-6-4 method (Borrow at 4%; Lend at 6%; Go home at 4) of
functioning. The new wave ushered in a modern outlook and tech-savvy methods of
working for traditional banks. All this led to the retail boom in India. People not just
demanded more from their banks but also received more.
Currently (2007), banking in India is generally fairly mature in terms of supply,
product range and reach-even though reach in rural India still remains a challenge
for the private sector and foreign banks. In terms of quality of assets and capital
adequacy, Indian banks are considered to have clean, strong and transparent
balance sheets relative to other banks in comparable economies in its region. The
Reserve Bank of India is an autonomous body, with minimal pressure from the
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government. The stated policy of the Bank on the Indian Rupee is to manage
volatility but without any fixed exchange rate-and this has mostly been true.
With the growth in the Indian economy expected to be strong for quite some time-
especially in its services sector-the demand for banking services, especially retail
banking, mortgages and investment services are expected to be strong. One may
also expect M&As, takeovers, and asset sales.
In March 2006, the Reserve Bank of India allowed Warburg Pincus to increase its
stake in Kotak Mahindra Bank (a private sector bank) to 10%. This is the first time
an investor has been allowed to hold more than 5% in a private sector bank since
the RBI announced norms in 2005 that any stake exceeding 5% in the private sector banks would need to be vetted by them.
In recent years critics have charged that the non-government owned banks are too
aggressive in their loan recovery efforts in connection with housing, vehicle and
personal loans. There are press reports that the banks' loan recovery efforts have
driven defaulting borrowers to suicide
INTRODUCTION TO THE ORGANISITION
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COMPANY PROFILE
ICICI Bank started as a wholly owned subsidiary of ICICI Limited, an Indian financialinstitution, in 1994. Four years later, when the company offered ICICI Bank's shares to
the public, ICICI's shareholding was reduced to 46%. In the year 2000, ICICI Bank
offered made an equity offering in the form of ADRs on the New York Stock Exchange
(NYSE), thereby becoming the first Indian company and the first bank or financial
institution from non-Japan Asia to be listed on the NYSE. In the next year, it acquired
the Bank of Madura Limited in an all-stock amalgamation. Later in the year and the next
fiscal year, the bank made secondary market sales to institutional investors.
With a change in the corporate structure and the budding competition in the Indian
Banking industry, the management of both ICICI and ICICI Bank were of the opinion
that a merger between the two entities would prove to be an essential step. It was in
2001 that the Boards of Directors of ICICI and ICICI Bank sanctioned the amalgamation
of ICICI and two of its wholly-owned retail finance subsidiaries, ICICI Personal Financial
Services Limited and ICICI Capital Services Limited, with ICICI Bank. In the following
year, the merger was approved by its shareholders, the High Court of Gujarat atAhmedabad as well as the High Court of Judicature at Mumbai and the Reserve Bank
of India.
Present Scenario
ICICI Bank has its equity shares listed in India on Bombay Stock Exchange and the
National Stock Exchange of India Limited. Overseas, its American Depositary Receipts
(ADRs) are listed on the New York Stock Exchange (NYSE). As of December 31, 2008,
ICICI is India's second-largest bank, boasting an asset value of Rs. 3,744.10 billion and
profit after tax Rs. 30.14 billion, for the nine months, that ended on December 31, 2008.
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Analysis of Work Life Balance in Banks
Branches & ATMs
ICICI Bank has a wide network both in Indian and abroad. In India alone, the bank has
1,420 branches and about 4,644 ATMs. Talking about foreign countries, ICICI Bank has
made its presence felt in 18 countries - United States, Singapore, Bahrain, Hong Kong,
Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in
United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and
Indonesia. The Bank proudly holds its subsidiaries in the United Kingdom, Russia and
Canada out of which, the UK subsidiary has established branches in Belgium and
Germany.
Products & Services
Personal Banking
• Deposits
• Loans
• Cards
• Investments
• Insurance
• Demat Services
• Wealth Management
NRI Banking
• Money Transfer
• Bank Accounts
• Investments
• Property Solutions
• Insurance
• Loans
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Analysis of Work Life Balance in Banks
Business Banking
• Corporate Net Banking
• Cash Management
• Trade Services
• FXOnline
• SME Services
• Online Taxes
• Custodial Services
Head Office
ICICI Bank
9th Floor, South Towers
ICICI Towers
Bandra Kurla Complex
Bandra (E)
Mumbai
Phone: 91-022-653 7914
Website:
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RESEARCH METHODOLOGY
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INTRODUCTION & CONCEPTUAL FRAMEWORK
History has myriad examples of kings and monarchs who aspired and set out to
conquer the world. But had to drop their ambitious endeavors midway as their troops
lost morale due to years of isolation from their homes, making them vulnerable to
fatigue and disease. Julius Caesar, Alexander the Great, etc., are few examples to
quote. Historians substantiate this by citing the limitations with respect to
communication, mode of travel and drawbacks in logistics of the times.
Ironically, modern day corporate also faces the same barriers in their way towards
development, improvement and overall growth. The executives of today face the
problem of lost morale and burn out. But the question that lingers in everyone’s mind is
why do these problems still persist in the age, when mankind has achieved landmark
improvements in communication, traveling and areas of science?
In the early 20th century, for the first time corporate bodies like Edison Illuminating
Company, Ford Motors etc., felt the need to introduce employee recreation centers,
basically intended towards reducing monotony of assembly line manufacturing and
minimizing employee turnover.
Usually employees are most productive when they are happy and motivated, and are
getting the best out of life at work as well as at home. But the 21st century workplace
has posed several new challenges and problems for employees in the form of dynamic
work environment. This new corporate environment is characterized by willful,
persistent change, wide ranging job responsibilities and uncertainties with increasing
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pressures from ambiguous persuasions to increase productivity. These changes in the
internal and remote environment disturb the balance between two
halves of life of the employees i.e., work and home, bringing dichotomy and confusion.
The confusion is fuelled by the rationale of economic growth through greater
productivity and competitiveness. These forces tend to create imbalance in lives of
employees. The balance and imbalance is usually measured on the scale of work v/s
life.
Life is a set of concrete pursuits, the list includes:
Family, health, career, wealth, social obligations, intelligence and spirituality. A perfectly
balanced life for an employee needs a careful synchronization and juggling of the
mentioned quests. The first two pursuits i.e., family and health especially need special
attention as these aspects, like glasspanes cannot be mended on development of any
crack. But, the remaining aspects are flexible and provide leverage to revisit and fix
them. This continuous juggling pulls the employee into the grind and leaves them
stressed and stretched.
Managing work life balance is one of the greatest challenges as the workplace
schedules take its toll on employee’s health, relationships & well-being. Both work and
family life are important to executives in any business organization and if they are not
maintained properly, it creates stress and strain in work life and in turn results in various
diseases. This further decreases the work efficiency of the executives and may also
result in premature retirement
In today’s liberalized, privatized and globalized economy, many corporate bodies have
recognized the importance of work life balance and are trying to incorporate innovative
means and methods to cope with it. Companies have understood the imperative and
want to have remedies for the problem before it becomes an epidemic, letting no space
to undo the ill-effects on the overall company performance.
The corporate scenario around the world is undergoing the turmoil of metamorphosis.
Both corporate bodies and workforce are slowly realizing the
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intentional role in contributing to the problem of work/life imbalance. With changing
times, more and more employees are facing the need to adopt the sacrosanct rule, i.e.,
the productivity that matters most, rather than the hours spent by the employees in the
office.
Employers and employees are simultaneously putting efforts to be flexible and are also
trying hard to equip themselves to face the forthcoming operational challenges.
Employees today want to have freedom and live lives their way. Employers too, have
started appreciating the changes and the imperative that the employees of today, value
balance between work and life more than ever before. The major patterns of change
that have triggered the emphasis of work life balance are mainly socio-economical. The
reasons are manifold and some of them are:-
a) Changing social philosophy:-
Employees in the 21st century place personal life on a higher pedestal than work life.
The cause of this can be linked to rising divorce rates, other family and relationship
problems. Employees today expect more life outside work. They also expect their family
to be a part of their work.
Smart companies have identified this and in regard are designing innovative ideas to
lure their employees. In the companies like Hewlett Associates, employee’s spouses
are invited to attend orientation programmes, or fruit baskets are sent home on
completion of project as a goodwill gesture towards thanking the employee’s family for
their support and co-operation during the times when the employee had to work late.
b) Changing Work Culture:-
Corporate bodies today function on the principle of empowering employees. The bottom
line of empowerment is based on flexibility and freedom of employees to take decisions
without any hindrance from the policies and directives of the organization structure.
Employees today seek for a range of choices from their employer and also want to have
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their say in availing them. Apart from initiatives like flexi timings, focus on results and
overall avoidance of long work hours culture, employers have started giving positive
reinforcements to employees by recognizing and distinguishing the ones who are
prompt in adapting challenges posed by the never ending increasing workplace
standards. These positive reinforcements are usually in the form of increased health
focus, well-being and bringing in changes in organization legislations.
c) Raise in the 365/24/7 global operations:-
Global organizations and increasing call center operations across the globe have to
work day and night coping with the time zones. With more and more businesses
emphasizing on round-the-clock customer service, the concern for work/life balance for
employees has become more essential. Ironically, technology has added to the speed
of operation rather than easing the work practices. To maintain competitiveness and
fight the burgeoning competition, companies are forced to deliver more with fewer
inputs; employees are expected to work longer and cope with tougher deadlines.
Today’s world literally doesn’t go to sleep.
d) Rise in dual earning families:-
Demographic and cultural changes have also added to the problem of work/life
imbalance. Working mothers are the major chunk of population who adversely get
affected in balancing their job performance and the family life. The problem aggravates,
as employees who try to cope with the situation by putting additional onus in their work,
face unfriendly and ruthless glare from their peer groups. Colleagues treat them as
pariahs as they are perceived to be doing unnecessarily extra work for the company,
trying to impress the management or set examples for others. Women with dependent
children or elderly relatives have to hear the music, as usually they get less support
from their spouses or other family members. On the positive note, the changing times
and rise in dual earning families have given fillip to changing social ideologies.
Today working women get more support from their families compared to that of their
predecessors. Unlike in the earlier times, today husband and other family members
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share the mundane household responsibilities of working women, providing them some
breathing space and helping them to excel in their job terrains.
Corporate initiatives to tackle work life imbalance
Corporate practices at INTERNATIONAL BUSINESS MACHINE:-
IBM understands that, every employee has commitments in personal life, and balancing
these commitments with the work life can sometimes be difficult. IBM offers many
policies to help employees to overcome the challenges. Some of these policies are:-
1) Option for leave of absence: - Employees can take longer breaks during their
career at IBM
2) Personal work/life: - This policy helps IBMers to manage situation that range from
attending school function of their children, shifting house, or to provide emergency care
for elderly relatives.
3) Religious Observances: - IBM aims to help its employees to accommodate their
personal beliefs while simultaneously meeting their business objectives.
4) Study plan: - IBM provides opportunities for its employees to take certification
program for personal development.
In addition to annual vacations, IBM also provides flexibility to enhance employee
personal work/life balance by having extra-personal leave, maternity leave, paternity
leave, compassionate leave, marriage leave etc.
AT 3M
3M recognize the increasing need of their employees to match their employment with
their personal lifestyle, aspirations and commitments.Thus,3M offers flexibility in the
operations. The flexibility gives employees the opportunity to choose a suitable work
pattern and simultaneously gives the company an opportunity to retain a pool of
talented and trained employees keen in delivering their best.3M policies include:-
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1) Flexi time: Workforce enjoys the benefit of flexible hours. This is formulated by
having a core time when the employee presence at work is mandatory but after these
hours, employees can manage their time accordingly. The scheme works to build trust
among employees while simultaneously meeting the business needs.
2) Other Flexible arrangements: 3M offers employees with opportunities to balance
their career and personal commitments by providing freedom of part-time working,
home-working, job-sharing, unpaid breaks and parental leave etc.
3) Life: 3M provides its employees with a healthy work/life balance. This is achieved by
providing employees with facilities and services aimed to encourage
employees to get the best out of their life.
4) Sports and social clubs: 3M operate clubs for aerobics, volleyball etc. In
addition,3M employees get competitive discounts for membership from local private
sports and health clubs. The company also helps its employees to find the best places
to reside, shop and entertainment.
At British Telecom
BT considers healthy work life balance for its employees as one of the greatest
business challenges, as only satisfied employees can provide the best customer
service.
All the work life balance policies at Bt are brought under a common portfolio called
“Achieving the balance”. These policies include flexible working, home working, part-
time working, maternity and paternity leave, parental leave, special leave and leave for
career development. With the use of innovative communications technology BT
employees are able to work from their homes without being formally christened as
home workers. BT also has a flexible working initiative called “Freedom to Work”; this
initiative enables its employees to develop their own attendance schedules. Employees
can achieve more balance by having a mix of home working, long and short days, and
by accumulating hours of non-working time to use it in future when necessary.
At Godrej Consumer Products Private Limited
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GCPL considers its people to be the most valuable asset and thus intends to be known
as the employer of choice. GCPL focuses on the commitment to work life balance, a
strong vision, stability of the company’s core values and creating a pool of enthusiastic
employees. Building a balance between maintaining the company values and managing
performance, compensation and employee satisfaction has made a considerable
difference. By imbibing these initiatives GCPL attempts to create an atmosphere of trust
and communication between management and employees.
At Glaxo Smithkline (GSK)
Pharmaceutical giant GSK has brought in a series of policies focused at reducing stress
and improving work life balance for its employees. The company has started “Well-
being” centers in its offices for its employees to go and relax. To bring in more flexibility,
employees are allowed to work from home and for the reason the firm has opened
“Drop-in” centers for home workers who can visit to avail the office facilities.
The company has invested a lot of money for improving the working condition of its
employees, as it recognizes the fact that healthy people result in healthy performance.
GSK has more than 1lakh employees globally, thus the company has created employee
health management group for developing standards and programmes especially
intended to prevent and manage workplace stress.
What is work-life balance?
Work-life balance is about effectively managing the juggling act between paid work and
the other activities that are important to people. It's not about saying that work is wrongor bad, but that work shouldn't completely crowd out the other things that matter to
people like time with family, participation in community activities, voluntary work,
personal development, leisure and recreation.
The 'right' balance is a very personal thing and will change for each person at different
times of their lives. For some people the issue is being able to get into work or find more
work rather than having too much work. There is no 'one size fits all' solution.
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A balanced life is one where we spread our energy and effort - emotional, intellectual,
imaginative, spiritual and physical – between key areas of importance. The neglect of
one or more areas, or anchor points, may threaten the vitality of the whole.
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Figure 1.1
WORK LIFE BALANCE
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Family- Successful parenting, the culture of care and selflessness that are part of
family life, requires energy, time, patience and a tolerance for mess and confusion… a
tall order when the working day has proved stressful and long. The key question here is
‘who finds time to care for whom?’, for what often happens is that the time-consuming
listening part of relationships gets ditched in favour of quick fixes, and then the
unattended get to feel unloved and react accordingly. Families need nurturing, and our
responses have to be sufficiently deep and elastic to accommodate the unexpected, not
just the scheduled bits that fit in neatly with our jobs.
Home- Home making is time-consuming. In the making of a home we create an
atmosphere that reflects our sense of place in this world. Like a warm and familiar
jumper, the home provides us with an extension of ourselves, a place where we can
feel free in our emotions and content to be who we really are. The paradox is that the
more we work, the more desperate we are to find such a home with its timeless
associations and the less time we have to create it. Homes can so easily become
houses, pit stops that provide briefly for sleep, rest and the bare essentials in the
intervals between work.
Friendships- It’s often been said that the art of friendship requires common skills to an
uncommon degree: a combination of affection, tolerance and patience as well as asense of constancy in times of struggle and difference. Yet when our work-life balance
spirals out of control, often friendships along with exercise are the first things to suffer.
In a report entitled ‘Social Trends; British Social Attitudes Survey 30 (HMSO 2000) a
significant factor over the past two decades is that we are seeing less of our best
friends. Yet, as the extended family gets to be geographically more and more
challenged, our friendships become increasingly relevant to our circle of mutual nurture
and support.
Community- Like family, home and friendships, our local communities depend on our
time and energy in order to function effectively, freely and spontaneously. It is in the
reciprocal context of its activities that our communal identity can be experienced and
enjoyed. Yet if we lose that vital life-work balance then the many activities through
which neighbourhood and locality are expressed are marginalised and we are the
poorer for that neglect. Hobbies, interests and sporting pursuits derive much of their
meaning through our interaction with others. If we fail to address the issues of work-life
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balance as a society then one of the first casualties will be the richness and diversity of
community life.
By work life balance we mean that all workers should have a right to work that does not
damage their freedom to pursue activities & responsibilities outside the work place. That
means making work more sensitive, arranging work more effectively & organizing it
more intelligently.
Is Your Life in Balance?
Everyone faces the issue of time management at one point or another, but as more and
more people deal with working at one or more jobs, fighting long commutes, managing
a household, attending school or other training, raising one or more children,
responding to increasing work and time pressures of the shrinking workplace, and
dealing with aging parents, the days often seem to last long into the night and vacation
and leisure time seem to be consumed with issues other than relaxation and personal
fulfillment.
In fact, a recent study of more than 50,000 employees from a variety of manufacturing
and service organizations found that two out of every five employees are dissatisfied
with the balance between their work and their personal lives. The lack of balance “is
due to long work hours, changing demographics, more time in the car, the deterioration
of boundaries between work and home, and increased work pressure,” says the study’s
author, Bruce Katcher, president of the Discovery Group, a management consulting
firm. How much is work invading your personal life, and how much of your personal life
is affected by the stress of trying to balance all the many responsibilities in your life?
Take our Work/Life Balance Quiz and see for yourself.
“Balancing the demands of being successful in work, raising children, looking after sick
relatives and having some space for friends, family and out of work interests is a very real and
increasing challenge. The business impact of not achieving a good work-life balance is very real
- people who are under an immense burden simply don’t perform to their best.
Work Life Balance include:-
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1) Flexi-time
2) Staggered hours
3) Time off in lieu
4) Compressed working hours
5) Shift swapping
6) Self-roistering
7) Job sharing
8) Term-time working
9) Working from home
10) Tele-working
11) Breaks from home
Flexible Work
A significant feature within the changing world of work is the need to develop a diverse,
skilled and motivated workforce able to respond quickly and efficiently to client needs.
Ensuring a committed, responsive and high performing workforce often depends on
creating an environment that enables employees to more easily manage the demandsof work and life—particularly their family responsibilities. Flexible work options for
employees contribute to a positive, healthy and productive work environment. Flexible
work options are defined as mutually agreed long- or short-term changes to working
time and leave arrangements within the context of organizational needs. Their
successful implementation depends on employee and management knowledge, pre-
planning, regular review, and the creation of a supportive workplace culture.
Benefits of flexible work
Workplace practice and culture impact on the work, family and life balance of all
employees. International research and experience across both the public and private
sector, and feedback within the Banking sector, highlights the tangible benefits of
mutually agreed flexible work options and a supportive workplace culture.
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Benefits of flexible work options include:
• increased capacity to attract and retain skilled and specialist employees and
professional staff
• maximising returns on training and professional development investment renewed
energy and freshness contributing to resilience as well as increased morale,
commitment and high work performance from staff
• improved learning outcomes through matching work options and available
skills with student needs
• increased performance and productivity, through improved organisational climate,
reduction of absenteeism and stress and a more efficient use of staff
• competitive edge in attracting and maintaining high demand skills to the public
education and training system and positive public recognition in both the education
sector and across other industries.
The objectives of this study are:
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1. To study work life balance in banking sector. It involves studying level of stress,
attitude, behavioral factors of employees.
2. To know the consequences of work life imbalance on efficiency, health and
personal as well as professional life of employees of banking sector.
3. To analyze the impact of demographic factors (marital status, family structure,
age, managerial level) on work life of employees.
The scope of the project is of great importance as a perfectly balanced life for an
employee need a careful synchronization of family, health, wealth, career, social
obligations, intelligence, spirituality etc. So the study covers the important factors of
managing family, work life and stress.
For conducting the study various tools are used to collect data. The major emphasis
was given to the questionnaire method and the respondants were selected on the basis
of random selection among the different levels, different authorities and different
departments of certain banks of Udaipur city. For collection of secondary data various
newspapers, journals and other periodicals containing articles were used.
The collected primary data was completely tabulated with the help of tables and
percentages were calculated. From the table information was analyzed and relevant
inferences were drawn and wherever necessary graphs were made for the presentation
of data.
From the collected data, it was very clear that it is a difficult affair for the executives to
manage the family as well as work life. Work and family life imbalance will have definite
impact on the stress and strain of any executives in banks.
The findings of the study are:
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Majority of the executives belong to nuclear family and thereby the level of stress
is more as compared to those employees who belong to joint family.
• For married employees it is more difficult to concentrate on their personal life
because of their work pressure and therefore more work load in banks resultedin poor family relation.
• Long working hour culture directly affects the level of efficiency of employees
thereby causing stress at work resulting into hypertension and other diseases.
• Family members of most of the employees feel neglected when employees have
to overstay in the banks.
Therefore banks are suggested to conduct picnic programs for the executives and their
families. Banks should accept the facts that employees work best when they can
balance their work and other aspects of their lives. Family friendly must be introduced to
improve employee commitment and motivation as well as recruitment and retention.
Banks should also try to implement certain ‘Time away from work policies’ such as
holiday banking, buying and selling of holidays, special leaves, compassionate leave,
maternity, paternity and adoption leave, study leave, short and long term career breaks
etc.
So to conclude the family and work life are both important to employees in any service
sector and if these two are not maintained properly it creates stress and strain and
results into various diseases. This study is found important because it tries to know how
the work life and family life interface results into stress. This study also throws light on
the suggestions to overcome imbalance in work and family life in order to keep the
profile of the executives high and also keep their family life happy which in the long run
benefits the organization in achieving its long term goals.
This study has very wide aspects because of its multiple , complex and unique variables
for future researchers.
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RESEARCH METHODOLOGY
Stages in Research Process:
• Formulating the research problem
• Choice of research design
• Determining sources of data
• Designing data collection forms
•
Determining Sampling design and sampling size
• Organizing and conducting the field survey
• Processing and analyzing the collected data
• Preparing the research report
RESEARCH OBJECTIVES:
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1. To study work life balance in banking sector. It involves studying level of stress,
attitude and behavioral factors of employees.
2. To know the consequences of work/life imbalance on efficiency, health and
personal as well as professional life of employees of banking sector.
3. To analyze the impact of demographic factors (marital status, family
Structure, Age, managerial level) on work life of employees.
RESEARCH DESIGN:
A Research Design specifies the methods and procedures for conducting a particular
study .The researcher should specify the approach he intends to use with respect to the
proposed study. Broadly speaking Research Designs can be grouped into 3 categories:
1. Exploratory Research
2. Descriptive Research
3. Casual Research
For achieving the research objectives which are already stated clearly,the Exploratory
Research method was adopted.
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Exploratory Research:
The major emphasis in this type of research is on the discovery of ideas at hand and
insights. It is a preliminary investigation which does not have a rigid design. This is
because a researcher engaged in an exploratory study may have to change his focus
as a result of new ideas and relationship among the variables.
The Exploratory study is generally helpful in breaking broad and vague problem into
smaller. In the nutshell, we can say that exploratory research helps in formulating
Hypothesis for the further research. Major part of the exploratory research is done
through survey.
SAMPLE SIZE:
It describes how many employees of the bank should be surveyed.
100 employees of private as well public banks were surveyed. It includes all the three
levels of employees that are lower level, middle level and top level.
SAMPLING TECHNIQUE:
Respondents were selected on the basis of random sampling among the different
levels, different authorities and different departments of certain private as well as public
banks of Udaipur city.
SAMPLE UNIT:
Employees of the certain private as well as public banks were taken as the units of the
study.
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TOOLS OF DATA COLLECTION:
The following tools were used for the data collection:
1. Structured questionnaire: By asking the structured questions to the employees
and by interviewing the executives formally.
2. On-site observation: By viewing the various systems & subsystems and
procedures followed by the bank.
3. Review of written document: some part of this study was collected from the
journals and books.
QUANTITATIVE TECHNIQUE USED
FOR THE DATA ANALYSIS
Quantative technique, which is used for the analysis of the data, is Chi-Square Test.
Chi-Square Test used as a test of independence. Chi-Square Test is used in
examining the relationship between two variables. In this research, researcher used
this test for finding:
Chi-square as a Non Parametric Test
Chi-square is an important non-parametric test and as such no rigid
assumptions are necessary in respect of the type of populations. We require only
degree of freedom for using this test. The formula to compute the value of Chi-
square test is as follows.
X2=∑(0-E)2 / E
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Where
O = Observed Frequency of the cell in/th row/th column
E = Expected Frequency of the cell/th row and/ th column
1.) Whether or not the family structure of the employees of banks affect work
related stress.
For examining the relationship between these two variables, for this researcher has to
set up a contingency table. This table can be of r *c Size, where r indicates number of
rows and c indicate number of columns.
In this case Contingency table is of 2* 5 sizes. There are 2 rows and 5 columns.
No. of
Times
Family
Structure
Most of
the
times
Sometimes Seldom Always Never Total
Nuclear 28 19 5 9 2 63
Joint 3 2 9 19 4 37
Total 31 21 14 28 6 100
Table 3.1
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Null Hypothesis: The Family Structure of the respondents and work related stress is
not related or independent on each other.
Alternative Hypothesis: The Family Structure of the respondants and work related
stress is related or dependent on each other.
Chi-square value is = £(o-e)(o-e)/e = 34.85
Hence, degree of freedom= (c-1)(r-1)
= (5-1)(2-1)= 4
Time Observed
Frequency(O)
Expected
Frequency (E) (O - E) (O-E)*(O-E)/EFor Nuclear
(most of the
time)
28 19.53 8.47 3.67
(sometime) 19 13.23 5.77 2.51
(seldom) 5 8.82 -3.82 1.65
(always) 9 17.64 -8.64 4.23
(never) 2 3.78 -1.78 .83For Joint
(most of the
time)
3 11.47 -8.47 6.25
(sometime) 2 7.77 -5.77 4.28
(seldom) 9 5.18 3.82 2.81
(always) 19 10.36 8.64 7.20
(never) 4 2.22 1.78 1.42
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The table value of chi-square for fore degree of freedom at 5% level of significance is =
9.488
The Calculated Value of chi-square is grater than the critical value of Chi square at (5-1)
(2-1) =6 degrees of freedom at 5% level of significance.
So the Null Hypothesis is rejected and alternative hypothesis is accepted which
interpret that “The Family Structure of the respondants and work related stress are
related or dependent on each other”.
Thus, researcher can say that nuclear families are more likely to work related stress
2.) Whether or not the marital status of the employees of banks affect there
Professional life.
For examining the relationship between these two variables, for this researcher has to
set up a contingency table. This table can be of r *c Size, where r indicates number of
rows and c indicate number of columns.
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In this case Contingency table is of 2* 5 sizes. There are 2 rows and 5 columns.
No. of
Times
Family
Structure
Most of
the
times
Sometimes Seldom Always Never Total
Single 20 17 3 1 1 42
Married 23 12 6 16 1 58
Total 43 29 9 17 2 100
Table 3.2
Null Hypothesis: The marital status of the employees of banks and their professional
life are not associated or independent on each other.
Alternative Hypothesis: The marital status of the employees of banks and their
professional life are associated or dependent on each other.
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Chi-square value is = £(o-e)(o-e)/e = 13.138
Hence, degree of freedom= (c-1)(r-1)
= (5-1)(2-1)= 4
The table value of chi-square for fore degree of freedom at 5% level of significance is =
9.488
The Calculated Value of chi-square is grater than the critical value of Chi square at
Time Observed
Frequency(O)
Expected
Frequency (E) (O - E) (O-E)*(O-E)/E
For single
(most of the
time)
20 18.06 1.94 .208
(sometime) 17 12.18 4.82 1.907
(seldom) 3 3.78 -.78 .160
(always) 1 7.14 -6.14 5.280
(never) 1 .84 .16 .030
For married
(most of the
time)
23 24.94 1.94 .150
(sometime) 12 16.82 -4.82 1.381
(seldom) 6 5.22 .78 0.116
(always) 16 9.86 6.14 3.820
(never) 1 1.16 -.16 .022
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(5-1) (2-1) =6 degrees of freedom at 5% level of significance.
So the Null Hypothesis is rejected and alternative hypothesis is accepted which
interpret that “The marital status of the employees of banks and their professional life
are associated or dependent on each other”.
Thus, researcher can say that marital status of the employees of banks and their
personal life are associated and married respondant’s professional life suffers.
LIMITATIONS:
• The research conducted was limited to Udaipur city only.
• Findings of the study are based on the assumption that respondents have
divulged the correct information.
• The study is limited due to time, costs and physical reasons
• The study is confined to selected groups of employees in banks of
Udaipur city and it may not be equally applied to all the executives class of
the country
• Few respondents were so much occupied with their work that they could
not spare time to fill the questionnaire
• The biasness of employees affect the analysis of the study in a significant
manner
• Due to unwillingness of providing any information, the respondents filled
the questionnaire casually which might have affected the conclusions.
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FINDINGS
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FINDINGS
1. 63% of the respondents work for 10-12 hours daily and in some cases they
are working for more than 12 hours which undermine their family life and
their health is also suffered.
2. Some of the executives need not stay back in the banks after office hours yet
senior or middle level executives have to stay back to finish their work.
3. The family members feel the absence of the executives in the house when
the executives are required to stay in the banks beyond working hours.
4. Most of the executives miss out there hobbies and interests because of there
preoccupations with there work.
5. Some of the executives are to have a family that understands their positions
in the banks and this has helped in avoiding stress in their life.
6. 50% of the executives take their family out on vacations and get them
relaxed.
7. Some of the executives attend functions in the family circle; some of them
cannot attend due to their office work.
8. Whenever the executives carry their office work to do at home, it creates
irritation among the family members.9. Majority of the executives agreed that wrong working hours affect their
efficiency.
10.55% of the respondents commented that peer pressure coax them to stay
late in the office.
11.58% of the respondents were of the opinion that long working hours cause
stress at work.
12.Most of the managers are suffering from hypertension and other
psychosomatic diseases.
13.26% managers are insomniac.
14.As more than 50% of the respondents are married, long working hours
culture directly affect their married life.
15.63% of the respondents have nuclear family and therefore whenever they
have to overstay in the banks to complete their work, their family members
feel neglected.
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ANALYSIS AND INTERPRETATION
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DATA ANALYSIS AND INTERPRETATION
1. Family Structure
Nuclear 63
Joint 37
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Figure 1
Graph 4.1
Interpretation:
Majority of the respondants belong to nuclear family and therefore they are unable to
devote required attention towards their family members and this results into more stress
as compared to those employees who belong to joint family.
Family Structure
63%
37%
Nuclear
Joint
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2. Marital Status of the Respondents:
Single 42
Married 58
Marital Status
42%
58%
Single
Married
Graph 4.2
Interpretation:
More than half of the respondents are married and therefore those employees who are
married are unable to enjoy their life because of long working hour culture in banks.
Those employees who are single remain less affected as far as their life is concerned.
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Analysis of Work Life Balance in Banks
Q1.) Normal working hours per day
Less than 8 hours 3
8-10 hours 34
10-12 hours 45
More than 12 hours 18
Normal Working Hours per Day
3%
34%
45%
18%
Less than 8 Hrs
8-10 Hrs
10-12 Hrs
More than 12 hrs
Graph 4.3
Interpretation:
45% employees are working 10-12 hours daily and 18% employees are working for
more than 12 hours every day .It clearly indicates that working hours have increased
because of privatization, and employees are bound to spend more time in banks.
Q2.) How frequent you overstay in the office to finish your work
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Analysis of Work Life Balance in Banks
Most of the
times
38
Sometimes 21
Seldom 18
Always 19Never 4
Graph 4.4
Interpretation:
38% of the respondents most of the times overstay in the office to finish their work.
19% of the respondents always overstay in the office to finish their work.
21% of the respondents sometimes overstay in the office to finish their work.
18% of the respondents seldom overstay in the office to finish their work.
And only 4 % of the respondents never overstay in the office to finish their work
Q3.) Response of the family members on overstaying in the office
Resentment 22
Irritation 18
How frequent you overstay in the office to finish
your work
38%
21%
18%
19%4%
Most of the times
Sometimes
Seldom
Always
Never
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Analysis of Work Life Balance in Banks
Cooperative 32
Ignorant 9
Feel neglected 19
Response of the family members on overstaying in
the office
22%
19%
32%
9%
18%
Resentment
Irritation
Co-operative
Ignorant
Feel Neglected
Graph 4.5
Interpretation:
22% employees have to face resentment of the family members.
Family members of 19% employees get irritated on overstaying of employees in
the bank.
Family members of 18% employees feel neglected on overstaying of employees
in the bank.
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Analysis of Work Life Balance in Banks
Family members of 9% employees simply do not bother, even if employees have
to overstay in the bank.
32% employees are lucky enough to have cooperative family members
Q4).Do you think long working hours undermine your family life
Most of the
times
43
Sometimes 29
Seldom 9
Always 17
Never 2
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Analysis of Work Life Balance in Banks
Do you think long working hours undermine your family life
43%
29%
9%
17%2%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.6
Interpretation:
43% employees said that long working hours have effect on their personal life
most of the times.
17% employees were of the opinion that long working hours always undermine
their family life.
According to 29% employees long working hours sometimes undermine their
family life.
9% employees were of the view that long working hours seldom affect their
family life.
Only 2% of the respondents were not in favour of this
Q5.) Are you able to attend social gatherings?
Most of the
times
20
Sometimes 36
Seldom 19
Always 8
Never 17
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Analysis of Work Life Balance in Banks
Are you able to attend social gatherings
20%
36%19%
8%
17%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.7
Interpretation:
36% of the respondents sometimes manage to attend social gatherings.
8% employees are always able to attend social gatherings.
17% employees have such a hectic schedule that they can never attend any
social function
20% employees are able to attend social gatherings most of the times19% employees seldom attend social gathering.
Q6.) Do you spare time for your hobbies and personal interests?
Yes 31
No 69
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Analysis of Work Life Balance in Banks
Do you spare time for your hobbies and personal interes
31
69
0
10
20
3040
50
60
70
80
Yes No
P e r c e n
t a g e
Graph 4.8
Interpretation:
Majority of the employees of banking sector i.e., 69% are so much preoccupied
with their work that they never get time for their hobbies and personal interests.
Only 31% of the employees spare time for their hobbies and personal interests.
Q7.) Do you take your children to their schools?
Most of the
times
0
Sometimes 25
Seldom 15
Always 0
Never 60
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Analysis of Work Life Balance in Banks
Do you take your children to their schools
0%
25%
15%
0%
60%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.9
Interpretation:
60% employees never take their children to their schools
25% employees sometimes take their children to their schools
15% employees seldom accompany their children to their schools
Q9.) Do you carry your office work at home?
Most of the
times
1
Sometimes 31Seldom 9
Always 1
Never 58
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Analysis of Work Life Balance in Banks
Do you carry your office work at home
1%
31%
9%
1%
58%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.10
Interpretation:
Majority of the employees i.e.58% never take their office work at home while
31% of the employees sometimes carry their office work at home.
Only 1% employees always carry their office work at home.
9% employees seldom carry their office work at home.
Q10.) How frequently you take your family out on vacation?
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How frequently you take your family out on vacation
7%
48%23%
9%
13%
Twice in a Year
Once in a Year
Once in Three Years
Once in five Years
Never
Graph 4.11
Interpretation:
48% employees of banking sector take their family out on vacation once in a
year
13% employees never spent vacations with family
Only 7% employees take their family out on vacation twice in a year
23% employees spent vacations once in three years with family9% employees are taking their family out on vacation once in 5 years because of
their hectic schedule
Q11.) Does long working hours affect your efficiency
Most of the
times
36
Sometimes 19
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Analysis of Work Life Balance in Banks
Seldom 11
Always 27
Never 7
Does long working hours affect your efficiency
36%
19%11%
27%
7%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.12
Interpretation:
Accordingly, 36% employees long working hours affect their efficiency most of
the times.
27% employees said that long working hours always affect their efficiency
19% employees were of the opinion that long working hours sometimes affect
their efficiency
11% employees said that long working hours seldom affect their efficiency
Only 7% employees said that long working hours never affect their efficiency
Q12.) Does peer pressure compels you to stay late in the office
Most of the
times
21
Sometimes 14
Seldom 19
Always 34
Never 12
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Does peer pressure compels you to stay late in the office
21%
14%
19%
34%
12%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.13
Interpretation:
34% executives said that peer pressure always compels them to stay late in the
office
21% executives said that most of the times peer pressure compels them to stay
late in the office
19% executives said that peer pressure seldom compels them to stay late in the
office
14% executives said that peer pressure sometimes compels them to stay late in
the office
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Analysis of Work Life Balance in Banks
Only 12% executives said that peer pressure never compels them to stay late in
the office
Q. 13 Does long working hours cause stress at work?
Does long working hours cause stress at work:
31%
21%14%
28%
6%
Most of the times
Sometimes
Seldom
Always
Never
Graph 4.14
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Analysis of Work Life Balance in Banks
Most of the
times
31
\Sometimes 21
Seldom 14
Always 28
Never 6
Interpretation:
31% employees of the banks said that long working hours cause stress at work
most of the times
28% employees of the banks said that long working hours always cause stress
at work
21% employees of the banks said that long working hours sometimes cause
stress at work
14% employees of the banks said that long working hours seldom cause stress
at work
6% employees of the banks said that long working hours never cause stress at
work.
Q14.) Do you agree “YOUR HEALTH IS SUFFERING BECAUSE OF YOUR
WORK “
Strongly Agree 29
Agree 39
Partially Agree 21
Disagree 9
Strongly Disagree 2
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Analysis of Work Life Balance in Banks
Do you agree “YOUR HEALTH IS SUFFERING BECAUSE OF
YOUR WORK “
29%
39%
21%
9% 2%
Strongly Agree
Agree
Partially Agree
Disagree
Strongly Disagree
Graph 4.15
Interpretation:
39% of the employees agree that their health is affected because of long
working hours.
29% of the employees strongly agree that their health is affected because of
long working hours.
9% of the employees disagree that their health is not affected because of long
working hours.
2% of the employees strongly disagree that their health is not affected because
of long working hours.
Q15.) Do you suffer from Hypertension?
Yes 58No 42
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Analysis of Work Life Balance in Banks
Do you suffer from Hypertension
Yes
58%
No
42% Yes
No
Graph 4.16
Interpretation:
58% of the employees of the banking sectors are suffering from hypertension
because of long working hours culture and increased competition in market as
well as at workplace.
Q16.) Do you suffer from Insomnia?
Yes 26
No 74
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Analysis of Work Life Balance in Banks
Do you suffer from Insom
Yes
26%
No
74%
Yes
No
Graph 4.17
Interpretation:
26% employees in banks are insomniac which shows that because of increased
work pressure and tensions, few employees are not able to sleep.
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Analysis of Work Life Balance in Banks
CONCLUSIONS
&
RECOMMENDATIONS
Conclusion:
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Analysis of Work Life Balance in Banks
The objective of the study was to find out how the family life and work life issues
are managed by the employees of certain private as well as public banks as they
have to devote most of their time in the banks either by staying beyond office
hours or by traveling due to office work. It was to find out how the executives
manage to overcome the level of stress.
This is a perfect study of human resource management to understand the family
life and work life and counsel the executives in case of needs. The study reveals
that officers have to mange and identify the importance of family requirements
and decide priorities of their personal involvement so that stress and strain can
be avoided.
The study concludes that as part of human resource management, frequent
studies have to be conducted to understand the executives and their family, so
that stress and strain among the executives arising out of family and work
interface is removed.
So to conclude the family and work life are both important to employees in any
service sector and if these two are not maintained properly it creates stress and
strain and results into various diseases. This study is found important because it
tries to know how the work life and family life interface results into stress. This
study also throws light on the suggestions to overcome imbalance in work and
family life in order to keep the profile of the executives high and also keep their
family life happy which in the long run benefits the organization in achieving its
long term goals.
This study has very wide aspects because of its multi, complex and unique
variables for future researchers.
With this the objective of this study gets fulfilled and it has been proved that
work life and family life imbalance do pose the problems of stress and strains to
the executives but it can be managed by the proper planning of work life and
family life.
RECOMMENDATIONS:
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Analysis of Work Life Balance in Banks
What Banks need to do?
• Raise awareness and promote discussion of work life balance
issues.
• Promote and disseminate best practice in achieving work life
balance.
• Conduct research into working practices and issues.
• Encourage contributions from academics, business leaders,
government.
organizations, professional associations and others.
• Produce practical interventions to encourage better work life
balance.
• Recognize the needs of its employees to balance work and family
and other personal life commitments that may vary at different stages of
an individual’s life cycle.
• Mutual agreement and cooperation between a manager and an
employee should be there.
• Communicate the importance of investing in work/life, diversity
and workforce effectiveness initiatives.
• Learn how changes in work processes and work structures in
organizations supported by work/life initiatives can leverage
improvements in productivity, quality, and customer and employee
satisfaction.
• A written check-list of legal entitlements should be provided to
workers when they receive their formal contract of employment.
•
The Government should make it easier for parents with dependantchildren who choose to work to do so by making flexible working hours
mandatory for them.
• Banks should also try to implement certain ”time away from work
policies” such as:
o Holiday banking
o buying and selling of holidays
o short and long term career breaks
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o special leave
o compassionate leave
o study leave
o IVF leave
o Adoption leave
o Stress removing activities
• Banks should accept the fact that the employees work best when
they can balance their work and other aspects of their lives.
• Family-friendly practices must be introduced to improve employee
commitment and motivation as well as recruitment and retention.
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APPENDIX
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WORK LIFE BALANCE SURVEY
(Information contained in this shall not be disclosed)
Name : …………… Name of the bank : ………….
Age : …………… Designation : ………….
Gender : Male / Female Marital status : Single /
Married
No. of Children : …………………… Family Structure : Nuclear /Joint
Occupation of your Spouse : ……………...
Educational Qualification:
Monthly Income (in Rs.) : a.) 5,000-10,000 b.) 10,000-
15,000
c.)15,000-20,000 d.) Above
20,000
Q.1) Normal working hours per day:
a.) Less than 8 hrs. b.) 8-10 hrs.
c.) 10-12 hrs. d.) More than 12 hrs.
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Q.2) How frequent you overstay in the office to finish your work:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.3) Prioritize the following (1-5 )
a.) Career( ) b.) Health( )
c.) Family( ) d.) Wealth( ) e.) Hobbies( )
Q.4) Do you think long working hours undermines your family life:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.5) Response of the family members on overstaying in the office:
a.) Resentment b.) Irritation
c.) Co-operative d.) Ignorant e.) Feel Neglected
Q.6) Do you carry your office work at home:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.7) Do you spare time for your hobbies and personal interest:
a.) Yes b.) No
Q.8) Does peer pressure compels you to stay late in the office:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.9) Does long working hours affect your efficiency:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
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Q.10) How frequently you take your family out on vacation:
a.) Twice in a year b.) Once in a year
c.) Once in three years d.) Once in five years e.) Never
Q.11) Are you able to attend social gatherings:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.12) Do you take your children to their schools:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.13) Does long working hours cause stress at work:
a.) Most of the times b.) Some times
c.) Seldom d.) Always e.) Never
Q.14) Do you agree “YOUR HEALTH IS SUFFERING BECAUSE OF YOUR WORK “:
a.) Strongly agree b.) Agree
c.) Partially agree d.) Disagree e.) Strongly disagree
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Bibliography
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Bibliography
• Kothari C.R, Research methodology, Wishwa Prakashan
• Pattnayak , Human resource management, Tata McGraw-Hill Publishing Company
Limited
• The ICFAI Journal of 0rganizational Behavior
• HRM Review of ICFAI Journal
• Mannuals of the Banks
• www.google.co.in
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