CHAPTER 1
INTRODUCTION
INTRODUCTION TO THE STUDY
1. INTRODUCTION
Employee satisfaction refers to a person’s feeling of satisfaction on the job, which acts as a motivation to work. It is not the self satisfaction, happiness or self contentment but the satisfaction on the 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; the end-state is feeling accompanying the attainment by an impulse of its objectives. Job satisfaction does mean absence of motivation at work. Research workers differently described the factors contributing to job satisfaction and job dissatisfaction.
Hoppock describes job satisfaction as, “Any combination of psychological, physiological and environmental circumstances that cause any person truthfully to say I am satisfied with my job”.
The term “employee satisfaction” refers to an employee’s general attitudes toward his job. Locke defines job satisfaction as a “Pleasurable or positive emotional state resulting from the appraisal of one’s job or job experience”, to the extent that person’s job fulfill his dominant need and is consistent with his expectations and values. The job will be satisfying there are three major theories of job satisfaction viz.,
1. Herzberg’s Motivation-Hygiene Theory.
2. Need Fulfillment Theory.
3. Social Reference Group Theory.
Smith Kendall and Hulin have suggested that there are five job dimensions that represent the most important characteristics of a job about which people have affective responses, these are:
• The work itself: The extent to which the job provides the individual with the interesting task, opportunities for learning and the chance of accept responsibility.
• Pay: The amount of financial remuneration that is received and the degree to which this is viewed as equitable vis-avis that of others in the organization.
• Promotion opportunities: The chance for advancement in the hierarchy.
• Supervision: The ability is on the supervision to provide technical assistance and behavioral support.
• Co-workers: The degree to which follow workers are technically proficient and socially supportive.
However, a comprehensive approach requires that may additional factors be included before a complete understanding of job satisfaction can be obtained. Such factors as the employee’s are, health, temperament, desires and levels of aspiration should be considered. Further, his family relationship, social status, recreational or purely social-contribute ultimately to job satisfaction.
2.DETERMINANTS OF JOB SATISFACTION
According to Abraham A. Korman, there are two types of variables which determine the job satisfaction of an individual.
These are:
1. Organizational variables, and
2. Personal variables.
ORGANIZATIONAL VARIABLES
1. Occupational Level:
The higher the level of the job the greater the satisfaction of the individuals. This is because of higher levels of job carry greater prestige and self control.
2. Job Content:
Greater the variation in job content and the less the repetitiveness with which the tasks must be performed, the greater the satisfaction of the individuals involved.
3. Considerate Leadership:
People like to be treated with consideration. Hence considerate leadership results in higher job satisfaction than inconsiderate leadership.
4. Pay And Promotional Opportunities:
All other things being equal these two variables are positively related to job satisfaction. An explanation for this finding lies in both theories discussed above.
5. Interaction In The Workgroup:
Here the question is, when is interaction in the workgroup a source of job satisfaction and when it is not? Interaction is must satisfying, when 1. It results are being accepted by others. 2. It facilitates the achievement of goals.
PERSONAL VARIABLES
For some people, it appears job will be dissatisfying irrespective of the organizational conditions involved, whereas or others, most jobs will be personal variables like age, educational levels, sex, etc.,
1. Age Most of the evidence on the relation between age and job satisfaction, holding such factors as occupational level constants, seems to indicate that there is generally a positive relationship between the two variables up to the pre-retirement years and then there is a sharp decrease in satisfaction.
2. Educational Levels With occupational level held constant there is a negative relationship between the educational level and job satisfaction. The higher the educational, the higher the reference group which the individual looks to for guidance to evaluate his job rewards.
3. Role Perception The different individuals holder different perceptions about their role i.e., the kind of activities and behaviors they should engage in to a firm makes job successful. Job satisfaction is determined by this factor also.
4. Sex There is yet no confident evidence as to whether women are more satisfied with that their job than men. Holding such factors as job and occupational levels constant, one might predict this to be the case considering the generally lower occupational aspiration of women.
Effect of Job Satisfaction
Job satisfaction has a variety of effects. These effects may be seen in the context of an individual’s physical and mental health, productivity, absenteeism, and turnover.
Physical and Mental Health:
The degree of job satisfaction affects an individual’s physical and mental health. Since job satisfaction is a type of mental feeling, its favourableness or unfavourablesness affects the individual psychologically which ultimately affects his physical health. For example, Lawler has pointed out that drug abuse, alcoholism and mental and physical health result from psychologically harmful jobs. Further, since a job is an important part of life, job satisfaction influences general life satisfaction. The result is that there is spillover effect which occurs in both directions between job and life satisfaction.
Productivity:
There are two views about the relationship between job satisfaction and productivity:
1. A happy worker is a productive worker,
2. A happy worker is not necessarily a productive worker.
The first view establishes a direct cause-effect relationship between job satisfaction and productivity; when job satisfaction increases, productivity increases; when satisfaction decreases, productivity decreases. The basic logic behind this is that a happy worker will put more efforts for job performance.
However, this may not be true in all cases. For example, a worker having low expectations from his jobs may feel satisfied but he may not put his efforts more vigorously because of his low expectations from the job. Therefore, this view does not explain fully the complex relationship between job satisfaction and productivity.
The another view: That is a satisfied worker is not necessarily a productive worker explains the relationship between job satisfaction and productivity. Various research studies also support this view. This relationship may be explained in terms of the operation of two factors: effect of job performance on satisfaction and organizational expectations from individuals for job performance.
1. Job performance leads to job satisfaction and not the other way round. The basic factor for this phenomenon is the rewards (a source of satisfaction) attached with performance. There are two types of rewards-intrinsic and extrinsic. The intrinsic reward stems from the job itself which may be in the form of growth potential, challenging job, etc. The satisfaction on such a type of reward may help to increase productivity. The extrinsic reward is subject to control by management such as salary, bonus, etc. Any increase inthese factors does not hep to increase productivity though these factors increase job satisfaction.
2. A happy worker does not necessarily contribute to higher productivity because he has to operate under certain technological constraints and, therefore, he cannot go beyond certain output. Further, this constraint affects the management’s expectations from the individual in the form of lower output. Thus, the work situation is pegged to minimally acceptable level of performance.
However, it does not mean that the job satisfaction has no impact o productivity. A satisfied worker may not necessarily lead to increased productivity but a dis-satisfied worker leads to lower productivity.
Absenteeism: Absenteeism refers to the frequency of absence of job holder from the workplace either unexcused absence due to some avoidable reasons or long absence due to some unavoidable reasons. It is the former type of absence which is a matter of concern. This absence is due to lack of satisfaction from the job which produces a ‘lack of will to work’ and alienate a worker form work as for as possible. Thus, job satisfaction is related to absenteeism. Employee turnover
SCOPE OF STUDY
The scope of this study is to understand the satisfaction of the staffs in Federal Bank Ltd,Aluva. The study is useful to the Federal bank management to know the level of satisfaction and needs of the employees.
OBJECTIVES OF STUDY
The following are the objectives of the present study.
To determine the level of satisfaction of the respondents regarding their job.
To study and understand the job satisfaction among the employees of Federal Bank Ltd,Aluva.
To study the various factors which influencing job satisfaction.
To study the relationship between the personal factors of the employee (Income, Designation, Educational qualification, Gender, etc.,)
RESEARCH METHODOLOGY
The methodology this study consists of both primary and secondary data. These dates collected from the respondents were through questionnaires. The primary data were collected from the respondents; the secondary data were collected from the books.
SAMPLE SIZE
All the items consideration in any field of inquiry constitutes a universe of population. In this research only a few items can be selected form the population for our study purpose. The items selected constitute what is technically called a sample. Here out sample size is 100 employees from the total population in the delivery peoples. The samples are selected on the basis of convenient.
QUESTIONNAIRE SCHEDULE
Questions are framed in such a way that the answers reflect the ideas and thoughts of the respondents with regard to level of satisfaction of various factors of job satisfaction.
TOOLS OF ANALYSIS
Simple percentage analysis:
Here the simple percentage analysis is used for calculating the percentage of satisfaction level in the total respondents.
Two-way analysis:
The score secured by the respondents who falls between the score as up to 50 indicates less satisfaction of the respondents, from 51 – 70 are got average satisfaction and 71 – 90 respondents are highly satisfaction.
Correlation:
Correlation is the method for measuring the magnitude of linear relationship between the two variables. It is most widely used method in practice and it is known as Karl Pearson’s coefficient of correlation. It is denoted by ‘r’.
Chi-square test:
Chi-square test is applied to test the goodness of fit, to verify the distribution of observed data with assumed theoretical distribution. Therefore it is a measure to study the divergence of actual and expected frequencies; Karl Pearson’s has developed a method to test the difference between the theoretical (hypothesis) & the observed value.
Chi – square test (X2) = (O – E)2 / E
Degrees Of Freedom = V = (R – 1) (C -1)
Were,
‘O’ = Observed Frequency
‘E’ = Expected Frequency
‘R’ = Number of Rows
‘C’ = Number of Columns
For all the chi-square test the table value has taken @ 5% level of significance.
AREAS OF STUDY
The area of the study is THE FEDERAL BANK LTD, Head Office, ALUVA.
LIMITATIONS OF STUDY
The research was conducted within a limited duration. So a detailed and comprehensive study could not be made.
The sample was confined to 150 respondents. So this study cannot be regarded as “full – proof” one.
Some respondents hesitated to give the actual situation; they feared that management would take any action against them.
There was a fear of reprisal among the employees to reveal their personal feelings and the result may not reflect the actual satisfactions.
The research was conducted within pickup and delivery staffs only. So it is not reflect the other official employee’s job satisfaction.
The findings and conclusions are based on knowledge and experience of the respondents sometime may subject to bias.
CHAPTER SCHEME
Chapter – I
It gives a brief introduction about the study and scope, objective, methodology and limitations of the study.
Chapter – II
It deals with the review of literature.
Chapter – III
It covers the history of The Professional Courier.
Chapter – IV
It deals with the analysis and interpretations of the collected data.
Chapter – V
It covers the various findings and suggestions of the study along with the conclusion
CHAPTER II
REVIEW OF LITERATURE
Employee satisfaction represents the constellations of person’s attitude towards or about the job. In general, job satisfaction is the attitude towards the job as a whole. Job satisfaction is a function of satisfaction with different aspects of job, i.e. supervision, pay, works itself, co-workers, promotion, etc., and of the particular weighting or importance one attaches to these respective components.
The study of employee satisfaction is a relatively recent phenomenon. It can perhaps be said to have begun in earnest with the famous Hawthorne studies conducted by Elton Mayo at the western Electronic Company in 1920s during the course of investigations. However they become convinced that factors of a social nature were affecting satisfaction with the job and productivity. Since the Hawthorne studies there has been an enormous output of work on the nature, causes and correlates of job satisfaction. has about his job.
This total body of feelings involves, in effect, weighting up the sum total of influences of the job, the nature of job itself, the pay, the promotion. The promotion prospects, the nature of supervision and so on. Where the sum total of influences gives rise to feelings of satisfactions the individual is job satisfied. Where in total they give rise to feelings of job dissatisfaction the individual is job dissatisfied. Improving any one of these influences will lead in the direction of job satisfaction, making less satisfactory any one of the influences will lead in the direction of the job dissatisfaction. However, what makes a job satisfying does not depends only on the nature of the job, but on the job expectations that individuals have of what their job should provide.
Expectancy theory points to the importance of the individual’s expectations of his job in determining job satisfaction. For individuals who have expectations that their job should give them opportunities for pay, challenge, a failure of the job to meet this expectation will lead to dissatisfaction compared to a situation where no such expectation is involved. What expect expectation of individuals will have of a job may vary. For a large number of reasons, some deriving from social others from individual causes.
These proposing an expectancy theory usually regarded over all job satisfaction as a function of satisfaction with various elements of the job. Another theory that has dominated the study of the nature of job satisfaction is Herzberg’s famous “Two factory Theory’s of job satisfaction. In this he claims that the factors which cause job satisfaction are separate and distinct from the factors which job dissatisfaction.
The factors causing job satisfaction, which level factors such as their relating to satisfaction with the job itself. The factors which cause job dissatisfaction called hygiene factors are more concerned with conditions of work such as pay and supervision. At no time does Herzberg argue a job satisfactory, except may be for a short run.
CHAPTER III
HISTORY OF THE FEDERAL BANK
ABOUT THE FOUNDER
Kulangara Paulo Hormis, the visionary Banker was born on 18th October, 1917 at Mookkannur; a small village in the suburbs of Greater Cochin, in a middle class agricultural family.
Educated as a lawyer, Shri Hormis began his career as an Advocate in the Courts of Perumbavoor. But the path breaker soon gravitated to commercial banking and soon took up the reins of Federal Bank in 1945 as its Chief Executive. Fired by a passion for institution building Shri Hormis built out of a One-Branch-Small-Time Bank, a nationwide institution of 285 branches in the 34 years that he remained at the helm. The quintessential banker that he was, a structure for extending finance to agriculture and the weaker sections of society was laid by him much before these areas came into national focus.
Social Banking was his passion and the strength of the Bank today in terms of national presence, diversified clientele, skilled and dedicated manpower and profitable operations, owes a great deal to the vision of this great man. The personality of Shri Hormis was multidimensional and there was no field of activity he was associated with where he did not leave his indelible imprint.
HISTORY OF THE BANK
1931:The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorised capital of rupees five thousand at Nedumpuram, a place near Tiruvalla in Central Travancore on 28/4/1931 under the Travancore Company's Act. It started business of auction -chitty and other banking transactions connected with agriculture and industry.The bank though successful in the earlier periods, suffered set backs and was on the verge of liquidation.
1944:Shri K P Hormis ,and his close relatives /friends obtained controlling interest in the Bank.
1945:The paid up capital was increased to Rs.71000.The Board of Directors of the Bank was reconstituted in 1945 and fresh Articles of Association adopted. On 18-5-1945,the Regd.Office of the Bank was shifted to Aluva and the Bank commenced business by opening its first branch at Aluva.
1946:The Bank opened its second branch at Angamally on 26-1-1946
1947:In the Board Meeting held on 24-3-1947 ,it was resolved to change the name of the Bank as "The Federal Bank Limited". The third branch of the Bank was opened at Perumbavoor on 18-4-1947.
1959:The Bank was licensed under Sec.22 of the Banking Companies Act,1949 on 11-7-1959. Bank floated several kuries one after another. It also introduced several new deposit schemes.These strategies helped the Bank to grow at a greater pace.
1964:The Bank embarked for a massive take over bids, which accelerated its growth horizontally and vertically. In that process it took over the assets and liabilities of the following banks:
1. The Chalakudy Public Bank Ltd., Chalakudy
2. The Cochin Union Bank Ltd., Trichur
3. The Alleppey Bank Ltd., Alleppey
1965:The St.George Union Bank Ltd. Puthenpally was merged with the Bank.
1968:The Marthandom Commercial Bank Ltd. Trivandrum was amalgamated with the Bank.
1970:The Bank became a Scheduled Commercial Bank in 1970, which also coincided with the Silver Jubilee Year, since the Bank commenced its operation in Aluva.
1972: witnessed expansion beyond the home state.The Bank became an Authorised Dealer in Foreign Exchange in 1972.International Banking Department started functioning from Mumbai in 1973.Since then , the Bank could substantially increase its market share of the NRI business. The International Banking Department was later shifted to Cochin in 1982 as part of consolidation and centralisation of activities.
1973 to 1977: During the period, the bank adopted a massive branch expansion and growth oriented programmes.To reflect the bank's approach towards the Industrial finance it adopted a new emblem -Farmer in action encircled by an industrial wheel.A few hallmarks of the period: In the year 1973,there was a quantum jump in deposits to the tune of 67% and in advances to the tune of 56% over that of the previous year. The deposits grew by 52% while the advances registered an increase of 45% .Increase in Priority sector advances was by 63%.
In 1975, the Bank opened 53 branches and in 1976 it opened 42 branches. The total number of branches reached 276 from a position of 114 in 1973.
The paid up capital was increased to Rs.100 lacs in 1977 from a position of Rs.10.66 lacs.The aggressive branch expansion programme also necessitated large scale recruitment of staff at all levels.
In 1975,Bank could give direct employment to 456 personnel. In 1977, 381 youngsters were newly employed. The total staff of the Bank reached 5010 in 1986 from a position of 701 in 1971.
: Mr.V Verghese took over the reigns of the bank as Chairman and Chief Executive Officer on 2/7/1980.Having worked long years in State Bank of Travancore with well established traditions, systems and methods ,he placed his faith in introducing time tested and well proven methods of organisation into the Bank.
1983:Shri V.K.Syamasundaran after long innings in Reserve Bank of India took over as Chairman and Chief Executive Officer of the Bank as a successor to Mr.V.Verghese on 16/7/83.The foundation stone of the multi-storied Administrative Building was laid by the Founder Shri K.P.Hormis on 26-12-83.
1984:As part of the organisation redesigning recommended by National Institute of Bank Management in November,1984,Agricultural Finance Department was set up in Head Office with technically qualified personnel at central office and field level. Bank's performance in the field of agricultural and priority sector lending improved substantially thereafter.
1985:In tune with the NIBM recommendation, Personnel and Industrial Relations Department was set up in July,1985. With the active assistance of Tata Consultancy Service, bank also set up its computer department.A WIPRO computer was installed at our Head Office on July,1985 paving the way for computerisation of the Bank. Later , a PSI micro computer was installed at our International Banking Department at Cochin. The first Advanced Ledger Posting Machine(ALPM-a Wipro banker)was installed at Br.Aluva-Bank Junction branch.
1987:The long cherished dream of the Federal Family, the multi-storied adminstrative building complex was inaugurated by Shri A Ghosh, Dy.Governor,Reserve Bank of India .
1988:Shri M.P.K.Nair , a seasoned commercial banker trained in the Union Bank of India stable assumed the captaincy of the Bank on 1-7-1988 as its Chairman and Chief Executive Officer.
1989: commenced Merchant Banking Operations.
1992: Deposits crossed Rs.10,000 Million.Adopted profit sector banking as its slogan.
1993:Roped in ICICI group as a shareholder through private placement .
1994: Tapped the Capital Market with a public issue in March,1994. The issue oversubscribed by about 60 times.Started Leasing Business.
1995:Registered 142.44% increase in PAT in FY 94-95.Bank registered a GAGR of 78.13% in PAT during the period 1991-96. Emerged as a perfect banking partner with diverse products, global reach and focus on automation and HRM. Deposits cross Rs.35,000 Million.
1996:Shri K Nandan, a veteran banker from State Bank of India took the stewardship on 1-1-1996 .The bank had steady growth.The bank's business crossed Rs.100000 Million mark as on 31/3/98 for the first time.
1997 : Bank's first ATM was inaugurated at Eranakulam North on 27-02-97.
1999: On 1-1-1999, Shri K.P.Padmakumar, the Executive Director of the Bank took over the batton from Shri K Nandan.He thus became the first Chairman and Chief Executive Officer of the bank risen from the rank and file.
Bank's 400th branch was inaugurated at Calcutta- Shakespear Sarani on 19.2.1999. The total business of the bank exceeded Rs.110000 Million as on 31/3/99.
2000: On 24.1.2000 Bank started Any Where Banking (ABB) at Bangalore connecting all branches located in the Bangalore metro.
Launched Depository Services in association with NSDL on 24.2.2000.
The Bank has commenced Internet Banking 'FedNet' on 28th April 2000 with software support from Infosys Technologies Ltd.
Federal Millennium CD is released on 18.9.2000
2001: In March 2001, Wide Area Network was launched connecting Regional Offices at Mumbai, Bangalore, Chennai, Ernakulam and Chennai F & I with Head Office
2002 : All the 412 branches of the Bank were fully computerised (using FedSoft) as on 31.03.2002.
The Installation of switch for networking all the ATMs, already installed/proposed to be installed, started from 17/08/2002.
2002 : Dec 10 2002 Federal Bank introduces FedAlerts, and FedMobile , another first of its kind service among traditional banks in India. Real time transaction alerts across the globe, and customisable options make the service unique.
2 July 2004 : International Debit Cards launched.
Dec 2003 : Bank establishes a Call Centre attached to the Systems and Technology Department .
12 February 2004 : Co-branded credit cards launched in association with ICICI Bank.
7 January 2004 : Federal Bank becomes the first traditional bank to network all its branches and attain 100% connectivity.
October 2004 : RTGS is enabled in all branches of the Bank and becomes the first bank in India to implement RTGS facility in all the branches. Online Railway Reservation through FedNet launched. The First Kiosk inaugurated at the Marine Drive ( Kochi) branch.
February 2005 : Federal Bank is awarded for Best Use of Information Technology in Retail Banking by IBA and Infosys . The runner up status reveals the strength and innovation in technology initiatives.
June 2005: Federal Bank in association with AMRITA super speciality hospital launches Fed+Amrita, an innovative online system for fixing medical consultation, Health check up, and inpatinet payments from anywhere.
January 2006: Federal Bank becomes the first traditional bank to successfully issue GDR. While the issue of 18 million Global Depository Receipts realised $71.46 million, the green shoe option of 2 million GDR was also fully subscribed, bringing in a total of $80 million to the bank. The GDR, each representing an underlying equity share, were priced at $3.97 each — working out to approximately Rs 175 per share. The issue was subscribed by major banks and Financial Institutions across the globe.
Banking in India
Structure of the organised banking sector in India. Number of banks are in brackets.
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
Nationalisation
By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the possibility to nationalise the banking industry. Indira Gandhi, the-thenPrime 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 Nationalisation." The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised 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 nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.
The nationalised banks were credited by some, including Home minister P. Chidambaram, to have helped the Indian economy withstand the global financial crisis of 2007-2009.
Liberalisation
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 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.
CHAPTER – IV
ANALYSIS AND INTERPRETATION
This chapter is allocated for analysis and interpretation of data. Preparing percentage analysis, two-way table and chi-squire test does the analysis of job satisfaction, which is directly extracted from the questionnaire. The variations in the extent of the consumer satisfaction can be measured with the variables such as job secured, promotional opportunity, relationship with management, and satisfaction factors of the respondents
Calculation of Satisfactory Scores
The Respondents were asked to state their level of Satisfaction relating to twenty factors. Based on their responses the Satisfaction score obtained by each respondent was found out. Points or scores were allocated based on the response. For each of the factor three levels of satisfaction were assigned namely high, medium and low. For high satisfaction three points were given, for Medium two and for low satisfaction one point was given.
The total scores secured by each respondent were thus arrived at. All the hundred respondents were classified based on their level of satisfaction. Those who have obtained up to 50 points were classified under low satisfaction category, Respondents with 51 – 70 points were classified under medium satisfaction category and those with more than 70 points were classified under high satisfaction category.
NUMBER OF RESPONDENTS AND LEVEL OF SATISFACTION
LEVEL OF SATISFACTION NO.OF RESPONDENTS
HIGH SATISFACTION 72
MEDIUM SATISFACTION 64
LOW SATISFACTION 14
TOTAL 150
TWO-WAY ANALYSIS:
The score secured by the respondents who falls between the score as up to 50 indicates less satisfaction of the respondents, from 51 – 70 are got average satisfaction and 71 – 90 respondents are highly satisfied.
SIMPLE PERCENTAGE TABLE - 1
AGE
AGE GROUP AND NO.OF RESPONDENTS
AGE NO.OF RESPONDENTS PERCENTAGE(%)
BELOW 30 33 22
31 TO 40 68 45
ABOVE 40 49 33
TOTAL 150 100
Age is an important factor that has an influence of job satisfaction. Hence according to age levels the respondents are classified into three factors.
INTERPRETATION:
Majority of the respondents (45%) are in 21 to 30 years age group and 33% of the respondents are above 30 years age group and 22% of the respondents are below 20 years age group.
SIMPLE PERCENTAGE TABLE – 2
GENDER
There is as yet no consistent evidence as to whether women are more
satisfied with their job than men, bolding such factors as job and
occupational level constant. One might predict this to be the case. Considering the generally lower occupational aspiration of women.
GENDER NO.OF RESPONDENTS PERCENTAGE(%)
MALE 123 82
FEMALE 27 18
TOTAL 150 100
GENDER AND NO.OF RESPONDENTS
INTERPRETATION:
Majority of the respondents (82%) are male and 18% of the respondents are female.
SIMPLE PERCENTAGE TABLE – 3
EDUCATION
Education qualification of the respondents may affect the preception of job satisfaction. Highly educated may expect much better work life then others. According to educational qualification the respondents are classified into four categories as under.
EDUCATION AND NUMBER OF RESPONDENTS
EDUCATIONAL STATUS NO.OF RESPONDENTS PERCENTAGE(%)
SCHOOL LEVEL 7 5
GRADUATE 101 67
POST GRADUATE 42 28
TOTAL 150 100
INTERPRETATION:
Majority of the respondents (67%) are graduate level and 28% of the respondents are post graduate and 5% of the respondents are school level.
SIMPLE PERCENTAGE TABLE - 4
MARITAL STATUS
The marital status may influence the job satisfaction as a personal factor. Because the married people has some unavoidable responsibility.
MARITAL STATUS AND NUMBER OF RESPONDENTS
MARITAL STATUS NO.OF RESPONDENTS PERCENTAGE(%)
MARRIED 94 63
UNMARRIED 56 37
TOTAL 150 100
INTERPRETATION:
Majority of the respondents (63%) are married and 37% of the respondents are unmarried.
SIMPLE PERCENTAGE TABLE – 5
MONTHLY SALARY
Man work to earn every employee in the organisation will expect a corret pay to be paid for the job done by him. The reasonable pay for each job which is performed in theorganisation. This scale of pay may help for the job satisfaction to a greater extent.
SALARY PER MONTH NO.OF RESPONDENTS PERCENTAGE(%)
BELOW 8000 55 37
Rs 8001 TO Rs12500 23 15
Rs 12501 TO 20000 51 34
ABOVE 20000 21 14
TOTAL 150 100
MONTHLY SALARY AND NUMBER OF RESPONDENTS
INTERPRETATION:
Majority of the respondents (37%) are BELOW Rs.8,000 and 15% of the respondents are 8,001 – 12,500 and 34% of the respondents are 12,501 – 20,000 and the remaining 14% of respondents are ABOVE 20,000.
TWO WAY TABLE - 1
Relationship Between Age And Level Of Satisfaction
AGE LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
YOUNG AGE 12(36%) 17(52%) 4(12%) 33
MIDDLE AGE 34(50%) 29(57%) 5(7%) 69
OLD AGE 26(53%) 18(37%) 5(10%) 49
TOTAL 72 64 14 150
INFERENCE:
The above table reveals that the percentage of highly satisfied is in the old age group (53%) and 50% of highly satisfied in the middle age group and followed by young age group. And in medium satisfaction 57% of highest percentage in middle age group and followed by young age group with 52% of satisfaction. The highest percentage of 12% in low satisfaction is in old age group.
TWO WAY TABLE -2
Relationship Between Gender And Level Of Satisfaction
GENDER LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
MALE 63(51%) 50(41%) 10(8%) 123
FEMALE 9(33%) 14(52%) 4(15%) 27
TOTAL 72 64 14 150
INFERENCE:
From the above table the percentage of highly satisfied is in male group followed by the female group. The percentage of medium satisfied is highest in female group.
TWO WAY TABLE -3
Relationship Between Educational Status And Level Of Satisfaction
GENDER LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
SCHOOL LEVEL 1(14%) 5(72%) 1(14%) 7
GRADUATE 51(50%) 41(41%) 9(9%) 101
POST GRADUATE 20(48%) 18(43%) 4(9%) 42
TOTAL 72 64 14 150
INFERENCE:
From the above table the percentage of highly satisfied is more among the respondents of graduate level group and followed by the school group. The percentage of medium satisfied is highest among the respondents of post graduate group.
TWO WAY TABLE -4
Relationship Between Marital Status And Level Of Satisfaction
MARITAL STATUS LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
MARRIED 40(63%) 15(23%) 9(14%) 64
UNMARRIED 32(37%) 49(57%) 5(6%) 68
TOTAL 72 64 14 150
INFERENCE:
The above table reveals that the percentage of highly satisfied is in unmarried group followed by married group. And in medium satisfaction highest percentage is in married group and followed by unmarried group.
TWO WAY TABLE -5
Relationship Between Monthly Salary And Level Of Satisfaction
MONTHLY SALARY LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
BELOW 8000 30(55%) 19(35%) 6(10%) 55
8001 TO 12500 7(30%) 14(61%) 2(9%) 23
12501 TO 20000 25(49%) 22(43%) 4(8%) 51
ABOVE 20000 10(48%) 9(42%) 2(10%) 21
TOTAL
INFERENCE:
From the above table the percentage of highly satisfied respondents is more in the group below Rs.8,000. It was followed by the groups Rs.12,501 – Rs.20,000. In medium satisfaction the highest percentage is in Rs.12,501 – Rs.20,000 group.
CHI-SQUARE TEST:
Chi-square test is applied to test the goodness of fit, to verify the distribution of observed data with assumed theoretical distribution. Therefore it is a measure to study the divergence of actual and expected frequencies; Karl Pearson’s has developed a method to test the difference between the theoretical (hypothesis) & the observed value.
Chi – square test (X2) = (O – E)2 / E
Degrees Of Freedom = V = (R – 1) (C -1)
Were,
‘O’ = Observed Frequency
‘E’ = Expected Frequency
‘R’ = Number of Rows
‘C’ = Number of Columns
For all the chi-square test the table value has taken @ 5% level of significance.
CHI– SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE AGE AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between age and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
12 15.48 -3.84 14.75 0.93
34 32.64 1.36 1.85 0.06
26 23.52 2.48 6.15 0.26
17 14.08 2.92 8.53 0.61
29 29.01 -0.01 0.00 0.00
18 20.91 -2.91 8.45 0.40
4 3.08 0.92 0.85 0.27
5 6.35 -1.35 1.81 0.29
5 4.57 0.43 0.18 0.04
2.86
Degree of freedom - 4
Table value - 9.49
Calculated value - 2.86
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between age and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE GENDER AND LEVEL OF
SATISFACTION
Hypothesis:
HO: There is no significant relationship between gender and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
63 59.04 3.96 15.68 0.27
9 12.96 -3.96 15.68 1.21
50 52.48 -2.48 6.15 0.12
14 11.52 2.48 6.15 0.53
10 11.48 -1.48 2.19 0.19
4 2.52 1.48 2.19 0.87
TOTAL 3.19
Degree of freedom - 2
Table value - 3.19
Calculated value - 5.99
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between gender and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE EDUCATIONAL QUALIFICATION AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between educational qualification and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
51 48.48 2.52 6.35 0.13
20 20.16 -0.16 0.03 0.00
1 3.36 -2.36 5.57 1.66
41 43.09 -2.09 4.38 0.10
18 17.92 0.08 0.01 0.00
5 2.99 2.01 4.05 1.36
9 9.43 -0.43 0.18 0.02
4 3.92 0.08 0.01 0.00
1 0.65 0.35 0.12 0.18
3.45
Degree of freedom - 4
Table value - 3.45
Calculated value - 9.49
INFERENCE:
Since the calculated value is less than the table value. The Null hypothesis is accepted. Hence, there is no significant relationship between educational qualification and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE MARITAL STATUS AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between marital status and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
40 30.72 9.28 86.12 2.80
32 41.28 -9.28 86.12 2.09
15 27.31 -12.31 151.45 5.55
49 36.69 12.31 151.45 4.13
9 5.97 3.03 9.16 1.53
5 8.03 -3.03 9.16 1.14
TOTAL 17.24
Degree of freedom - 2
Table value - 17.24
Calculated value - 5.99
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is not accepted. Hence, there is significant relationship between marital status and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE MONTHLY INCOME AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between monthly income and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
10 10.08 -0.08 0.01 0.00
7 11.04 -4.04 16.32 1.48
25 24.48 0.52 0.27 0.01
30 26.40 3.60 12.96 0.49
9 8.96 0.04 0.00 0.00
14 9.81 4.19 17.53 1.79
22 21.76 0.24 0.06 0.00
19 23.47 -4.47 19.95 0.85
2 1.96 0.04 0.00 0.00
2 2.15 -0.15 0.02 0.01
4 4.76 -0.76 0.58 0.12
6 5.13 0.87 0.75 0.15
TOTAL 4.75
Degree of freedom - 6
Table value - 4.75
Calculated value - 12.59
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between monthly income and level of satisfaction.
CORRELATION:
Correlation is the method for measuring the magnitude of linear relationship between the two variables. It is most widely used method in practice and it is known as Karl Pearson’s coefficient of correlation. It is denoted by ‘r’.
CORRELATION TEST CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE AGE AND SATISFACTION LEVEL
SCORE 31-50 51-70 71-90 f u fu fu^2 fuv
AGE
10-20 12 17 4 33 -1 -33 33 8
20-30 34 29 5 68 0 0 0 0
30-40 26 18 5 49 1 49 49 -21
f 72 64 14 150 0 16 82 -13
v -1 0 1 0
fv -72 0 14 -58
fv^2 72 0 14 86
FORMULA:
Result: r -1022 = -0.09536
= 10716.88
INFERENCE:
The correlation shows the negative result, so there is no relationship between the age and satisfaction level.
CHAPTER V
FINDINGS, SUGGESTIONS AND CONCLUSION
FINDINGS
Age:
• The percentage table reveals that the majority of the respondents are belongs to the group 31 years to 40 years of age.
• The two-way table shows that the high satisfaction is derived by the middle age group.
• Chi-squire test indicates that there is no significant relationship between the age and level of satisfaction.
• The correlation is also shows that there is no relationship between the age and satisfaction level.
Gender:
• From the percentage table the majority of the respondents are from the male group.
• The two-way table says that the high level of satisfaction is obtained by the male group.
• Chi-squire test reveals that there is no relationship between the gender and the level of satisfaction.
Educational qualification:
• From the percentage table the majority of the respondents are in graduate level educated group.
• The two-way table showing the high level of satisfaction is derived by the graduate level group respondents.
• The chi-squire test indicates that there is no significant relationship between the educational qualification and the level of satisfaction.
Marital status :
• The percentage table shows that the majority of the respondents are married.
• The two-way table showing the high satisfaction is derived by the unmarried group.
• The chi-squire test indicates that there is a significant relationship between the marital status and the level of satisfaction.
Monthly income:
• The percentage table indicates that the majority of the respondents are in below Rs: 8000 salary group.
• The two-way table tells us the high satisfaction is derived by the respondents who are in below Rs.8,000 group.
• Chi-squire test reveals that there is no significant relationship between the monthly income and the level of satisfaction.
• The correlation shows that there no relationship between the monthly income and the level of satisfaction.
SUGGESTIONS:
• The bank should increase the present scale of pay to staff.
• The bank should formulate it’s working time. It may introduce shift working pattern to ensure for bank working hours.
• The bank should reduce the autocratic management style.
• The bank should implement the grievance handling system.
• The bank should improve the canteen facilities.
• The bank may provide loans and advances to it’s workers.
• It may provide common mass transit facilities to ensure proper and full usage of its working hours .
CONCLUSION
The study on employee’s satisfaction at Federal bank is cased out with full co-operation of the employees and management. As far as possible with in the given limits the study is completed with the satisfaction of many peoples. The data collected are analyzed scientifically and the results obtained are free to nearly 80%. It is assured that the bank may got high boosted moral in the organization provided some of the suggestions made in the report in carried out.
INTRODUCTION
INTRODUCTION TO THE STUDY
1. INTRODUCTION
Employee satisfaction refers to a person’s feeling of satisfaction on the job, which acts as a motivation to work. It is not the self satisfaction, happiness or self contentment but the satisfaction on the 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; the end-state is feeling accompanying the attainment by an impulse of its objectives. Job satisfaction does mean absence of motivation at work. Research workers differently described the factors contributing to job satisfaction and job dissatisfaction.
Hoppock describes job satisfaction as, “Any combination of psychological, physiological and environmental circumstances that cause any person truthfully to say I am satisfied with my job”.
The term “employee satisfaction” refers to an employee’s general attitudes toward his job. Locke defines job satisfaction as a “Pleasurable or positive emotional state resulting from the appraisal of one’s job or job experience”, to the extent that person’s job fulfill his dominant need and is consistent with his expectations and values. The job will be satisfying there are three major theories of job satisfaction viz.,
1. Herzberg’s Motivation-Hygiene Theory.
2. Need Fulfillment Theory.
3. Social Reference Group Theory.
Smith Kendall and Hulin have suggested that there are five job dimensions that represent the most important characteristics of a job about which people have affective responses, these are:
• The work itself: The extent to which the job provides the individual with the interesting task, opportunities for learning and the chance of accept responsibility.
• Pay: The amount of financial remuneration that is received and the degree to which this is viewed as equitable vis-avis that of others in the organization.
• Promotion opportunities: The chance for advancement in the hierarchy.
• Supervision: The ability is on the supervision to provide technical assistance and behavioral support.
• Co-workers: The degree to which follow workers are technically proficient and socially supportive.
However, a comprehensive approach requires that may additional factors be included before a complete understanding of job satisfaction can be obtained. Such factors as the employee’s are, health, temperament, desires and levels of aspiration should be considered. Further, his family relationship, social status, recreational or purely social-contribute ultimately to job satisfaction.
2.DETERMINANTS OF JOB SATISFACTION
According to Abraham A. Korman, there are two types of variables which determine the job satisfaction of an individual.
These are:
1. Organizational variables, and
2. Personal variables.
ORGANIZATIONAL VARIABLES
1. Occupational Level:
The higher the level of the job the greater the satisfaction of the individuals. This is because of higher levels of job carry greater prestige and self control.
2. Job Content:
Greater the variation in job content and the less the repetitiveness with which the tasks must be performed, the greater the satisfaction of the individuals involved.
3. Considerate Leadership:
People like to be treated with consideration. Hence considerate leadership results in higher job satisfaction than inconsiderate leadership.
4. Pay And Promotional Opportunities:
All other things being equal these two variables are positively related to job satisfaction. An explanation for this finding lies in both theories discussed above.
5. Interaction In The Workgroup:
Here the question is, when is interaction in the workgroup a source of job satisfaction and when it is not? Interaction is must satisfying, when 1. It results are being accepted by others. 2. It facilitates the achievement of goals.
PERSONAL VARIABLES
For some people, it appears job will be dissatisfying irrespective of the organizational conditions involved, whereas or others, most jobs will be personal variables like age, educational levels, sex, etc.,
1. Age Most of the evidence on the relation between age and job satisfaction, holding such factors as occupational level constants, seems to indicate that there is generally a positive relationship between the two variables up to the pre-retirement years and then there is a sharp decrease in satisfaction.
2. Educational Levels With occupational level held constant there is a negative relationship between the educational level and job satisfaction. The higher the educational, the higher the reference group which the individual looks to for guidance to evaluate his job rewards.
3. Role Perception The different individuals holder different perceptions about their role i.e., the kind of activities and behaviors they should engage in to a firm makes job successful. Job satisfaction is determined by this factor also.
4. Sex There is yet no confident evidence as to whether women are more satisfied with that their job than men. Holding such factors as job and occupational levels constant, one might predict this to be the case considering the generally lower occupational aspiration of women.
Effect of Job Satisfaction
Job satisfaction has a variety of effects. These effects may be seen in the context of an individual’s physical and mental health, productivity, absenteeism, and turnover.
Physical and Mental Health:
The degree of job satisfaction affects an individual’s physical and mental health. Since job satisfaction is a type of mental feeling, its favourableness or unfavourablesness affects the individual psychologically which ultimately affects his physical health. For example, Lawler has pointed out that drug abuse, alcoholism and mental and physical health result from psychologically harmful jobs. Further, since a job is an important part of life, job satisfaction influences general life satisfaction. The result is that there is spillover effect which occurs in both directions between job and life satisfaction.
Productivity:
There are two views about the relationship between job satisfaction and productivity:
1. A happy worker is a productive worker,
2. A happy worker is not necessarily a productive worker.
The first view establishes a direct cause-effect relationship between job satisfaction and productivity; when job satisfaction increases, productivity increases; when satisfaction decreases, productivity decreases. The basic logic behind this is that a happy worker will put more efforts for job performance.
However, this may not be true in all cases. For example, a worker having low expectations from his jobs may feel satisfied but he may not put his efforts more vigorously because of his low expectations from the job. Therefore, this view does not explain fully the complex relationship between job satisfaction and productivity.
The another view: That is a satisfied worker is not necessarily a productive worker explains the relationship between job satisfaction and productivity. Various research studies also support this view. This relationship may be explained in terms of the operation of two factors: effect of job performance on satisfaction and organizational expectations from individuals for job performance.
1. Job performance leads to job satisfaction and not the other way round. The basic factor for this phenomenon is the rewards (a source of satisfaction) attached with performance. There are two types of rewards-intrinsic and extrinsic. The intrinsic reward stems from the job itself which may be in the form of growth potential, challenging job, etc. The satisfaction on such a type of reward may help to increase productivity. The extrinsic reward is subject to control by management such as salary, bonus, etc. Any increase inthese factors does not hep to increase productivity though these factors increase job satisfaction.
2. A happy worker does not necessarily contribute to higher productivity because he has to operate under certain technological constraints and, therefore, he cannot go beyond certain output. Further, this constraint affects the management’s expectations from the individual in the form of lower output. Thus, the work situation is pegged to minimally acceptable level of performance.
However, it does not mean that the job satisfaction has no impact o productivity. A satisfied worker may not necessarily lead to increased productivity but a dis-satisfied worker leads to lower productivity.
Absenteeism: Absenteeism refers to the frequency of absence of job holder from the workplace either unexcused absence due to some avoidable reasons or long absence due to some unavoidable reasons. It is the former type of absence which is a matter of concern. This absence is due to lack of satisfaction from the job which produces a ‘lack of will to work’ and alienate a worker form work as for as possible. Thus, job satisfaction is related to absenteeism. Employee turnover
SCOPE OF STUDY
The scope of this study is to understand the satisfaction of the staffs in Federal Bank Ltd,Aluva. The study is useful to the Federal bank management to know the level of satisfaction and needs of the employees.
OBJECTIVES OF STUDY
The following are the objectives of the present study.
To determine the level of satisfaction of the respondents regarding their job.
To study and understand the job satisfaction among the employees of Federal Bank Ltd,Aluva.
To study the various factors which influencing job satisfaction.
To study the relationship between the personal factors of the employee (Income, Designation, Educational qualification, Gender, etc.,)
RESEARCH METHODOLOGY
The methodology this study consists of both primary and secondary data. These dates collected from the respondents were through questionnaires. The primary data were collected from the respondents; the secondary data were collected from the books.
SAMPLE SIZE
All the items consideration in any field of inquiry constitutes a universe of population. In this research only a few items can be selected form the population for our study purpose. The items selected constitute what is technically called a sample. Here out sample size is 100 employees from the total population in the delivery peoples. The samples are selected on the basis of convenient.
QUESTIONNAIRE SCHEDULE
Questions are framed in such a way that the answers reflect the ideas and thoughts of the respondents with regard to level of satisfaction of various factors of job satisfaction.
TOOLS OF ANALYSIS
Simple percentage analysis:
Here the simple percentage analysis is used for calculating the percentage of satisfaction level in the total respondents.
Two-way analysis:
The score secured by the respondents who falls between the score as up to 50 indicates less satisfaction of the respondents, from 51 – 70 are got average satisfaction and 71 – 90 respondents are highly satisfaction.
Correlation:
Correlation is the method for measuring the magnitude of linear relationship between the two variables. It is most widely used method in practice and it is known as Karl Pearson’s coefficient of correlation. It is denoted by ‘r’.
Chi-square test:
Chi-square test is applied to test the goodness of fit, to verify the distribution of observed data with assumed theoretical distribution. Therefore it is a measure to study the divergence of actual and expected frequencies; Karl Pearson’s has developed a method to test the difference between the theoretical (hypothesis) & the observed value.
Chi – square test (X2) = (O – E)2 / E
Degrees Of Freedom = V = (R – 1) (C -1)
Were,
‘O’ = Observed Frequency
‘E’ = Expected Frequency
‘R’ = Number of Rows
‘C’ = Number of Columns
For all the chi-square test the table value has taken @ 5% level of significance.
AREAS OF STUDY
The area of the study is THE FEDERAL BANK LTD, Head Office, ALUVA.
LIMITATIONS OF STUDY
The research was conducted within a limited duration. So a detailed and comprehensive study could not be made.
The sample was confined to 150 respondents. So this study cannot be regarded as “full – proof” one.
Some respondents hesitated to give the actual situation; they feared that management would take any action against them.
There was a fear of reprisal among the employees to reveal their personal feelings and the result may not reflect the actual satisfactions.
The research was conducted within pickup and delivery staffs only. So it is not reflect the other official employee’s job satisfaction.
The findings and conclusions are based on knowledge and experience of the respondents sometime may subject to bias.
CHAPTER SCHEME
Chapter – I
It gives a brief introduction about the study and scope, objective, methodology and limitations of the study.
Chapter – II
It deals with the review of literature.
Chapter – III
It covers the history of The Professional Courier.
Chapter – IV
It deals with the analysis and interpretations of the collected data.
Chapter – V
It covers the various findings and suggestions of the study along with the conclusion
CHAPTER II
REVIEW OF LITERATURE
Employee satisfaction represents the constellations of person’s attitude towards or about the job. In general, job satisfaction is the attitude towards the job as a whole. Job satisfaction is a function of satisfaction with different aspects of job, i.e. supervision, pay, works itself, co-workers, promotion, etc., and of the particular weighting or importance one attaches to these respective components.
The study of employee satisfaction is a relatively recent phenomenon. It can perhaps be said to have begun in earnest with the famous Hawthorne studies conducted by Elton Mayo at the western Electronic Company in 1920s during the course of investigations. However they become convinced that factors of a social nature were affecting satisfaction with the job and productivity. Since the Hawthorne studies there has been an enormous output of work on the nature, causes and correlates of job satisfaction. has about his job.
This total body of feelings involves, in effect, weighting up the sum total of influences of the job, the nature of job itself, the pay, the promotion. The promotion prospects, the nature of supervision and so on. Where the sum total of influences gives rise to feelings of satisfactions the individual is job satisfied. Where in total they give rise to feelings of job dissatisfaction the individual is job dissatisfied. Improving any one of these influences will lead in the direction of job satisfaction, making less satisfactory any one of the influences will lead in the direction of the job dissatisfaction. However, what makes a job satisfying does not depends only on the nature of the job, but on the job expectations that individuals have of what their job should provide.
Expectancy theory points to the importance of the individual’s expectations of his job in determining job satisfaction. For individuals who have expectations that their job should give them opportunities for pay, challenge, a failure of the job to meet this expectation will lead to dissatisfaction compared to a situation where no such expectation is involved. What expect expectation of individuals will have of a job may vary. For a large number of reasons, some deriving from social others from individual causes.
These proposing an expectancy theory usually regarded over all job satisfaction as a function of satisfaction with various elements of the job. Another theory that has dominated the study of the nature of job satisfaction is Herzberg’s famous “Two factory Theory’s of job satisfaction. In this he claims that the factors which cause job satisfaction are separate and distinct from the factors which job dissatisfaction.
The factors causing job satisfaction, which level factors such as their relating to satisfaction with the job itself. The factors which cause job dissatisfaction called hygiene factors are more concerned with conditions of work such as pay and supervision. At no time does Herzberg argue a job satisfactory, except may be for a short run.
CHAPTER III
HISTORY OF THE FEDERAL BANK
ABOUT THE FOUNDER
Kulangara Paulo Hormis, the visionary Banker was born on 18th October, 1917 at Mookkannur; a small village in the suburbs of Greater Cochin, in a middle class agricultural family.
Educated as a lawyer, Shri Hormis began his career as an Advocate in the Courts of Perumbavoor. But the path breaker soon gravitated to commercial banking and soon took up the reins of Federal Bank in 1945 as its Chief Executive. Fired by a passion for institution building Shri Hormis built out of a One-Branch-Small-Time Bank, a nationwide institution of 285 branches in the 34 years that he remained at the helm. The quintessential banker that he was, a structure for extending finance to agriculture and the weaker sections of society was laid by him much before these areas came into national focus.
Social Banking was his passion and the strength of the Bank today in terms of national presence, diversified clientele, skilled and dedicated manpower and profitable operations, owes a great deal to the vision of this great man. The personality of Shri Hormis was multidimensional and there was no field of activity he was associated with where he did not leave his indelible imprint.
HISTORY OF THE BANK
1931:The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorised capital of rupees five thousand at Nedumpuram, a place near Tiruvalla in Central Travancore on 28/4/1931 under the Travancore Company's Act. It started business of auction -chitty and other banking transactions connected with agriculture and industry.The bank though successful in the earlier periods, suffered set backs and was on the verge of liquidation.
1944:Shri K P Hormis ,and his close relatives /friends obtained controlling interest in the Bank.
1945:The paid up capital was increased to Rs.71000.The Board of Directors of the Bank was reconstituted in 1945 and fresh Articles of Association adopted. On 18-5-1945,the Regd.Office of the Bank was shifted to Aluva and the Bank commenced business by opening its first branch at Aluva.
1946:The Bank opened its second branch at Angamally on 26-1-1946
1947:In the Board Meeting held on 24-3-1947 ,it was resolved to change the name of the Bank as "The Federal Bank Limited". The third branch of the Bank was opened at Perumbavoor on 18-4-1947.
1959:The Bank was licensed under Sec.22 of the Banking Companies Act,1949 on 11-7-1959. Bank floated several kuries one after another. It also introduced several new deposit schemes.These strategies helped the Bank to grow at a greater pace.
1964:The Bank embarked for a massive take over bids, which accelerated its growth horizontally and vertically. In that process it took over the assets and liabilities of the following banks:
1. The Chalakudy Public Bank Ltd., Chalakudy
2. The Cochin Union Bank Ltd., Trichur
3. The Alleppey Bank Ltd., Alleppey
1965:The St.George Union Bank Ltd. Puthenpally was merged with the Bank.
1968:The Marthandom Commercial Bank Ltd. Trivandrum was amalgamated with the Bank.
1970:The Bank became a Scheduled Commercial Bank in 1970, which also coincided with the Silver Jubilee Year, since the Bank commenced its operation in Aluva.
1972: witnessed expansion beyond the home state.The Bank became an Authorised Dealer in Foreign Exchange in 1972.International Banking Department started functioning from Mumbai in 1973.Since then , the Bank could substantially increase its market share of the NRI business. The International Banking Department was later shifted to Cochin in 1982 as part of consolidation and centralisation of activities.
1973 to 1977: During the period, the bank adopted a massive branch expansion and growth oriented programmes.To reflect the bank's approach towards the Industrial finance it adopted a new emblem -Farmer in action encircled by an industrial wheel.A few hallmarks of the period: In the year 1973,there was a quantum jump in deposits to the tune of 67% and in advances to the tune of 56% over that of the previous year. The deposits grew by 52% while the advances registered an increase of 45% .Increase in Priority sector advances was by 63%.
In 1975, the Bank opened 53 branches and in 1976 it opened 42 branches. The total number of branches reached 276 from a position of 114 in 1973.
The paid up capital was increased to Rs.100 lacs in 1977 from a position of Rs.10.66 lacs.The aggressive branch expansion programme also necessitated large scale recruitment of staff at all levels.
In 1975,Bank could give direct employment to 456 personnel. In 1977, 381 youngsters were newly employed. The total staff of the Bank reached 5010 in 1986 from a position of 701 in 1971.
: Mr.V Verghese took over the reigns of the bank as Chairman and Chief Executive Officer on 2/7/1980.Having worked long years in State Bank of Travancore with well established traditions, systems and methods ,he placed his faith in introducing time tested and well proven methods of organisation into the Bank.
1983:Shri V.K.Syamasundaran after long innings in Reserve Bank of India took over as Chairman and Chief Executive Officer of the Bank as a successor to Mr.V.Verghese on 16/7/83.The foundation stone of the multi-storied Administrative Building was laid by the Founder Shri K.P.Hormis on 26-12-83.
1984:As part of the organisation redesigning recommended by National Institute of Bank Management in November,1984,Agricultural Finance Department was set up in Head Office with technically qualified personnel at central office and field level. Bank's performance in the field of agricultural and priority sector lending improved substantially thereafter.
1985:In tune with the NIBM recommendation, Personnel and Industrial Relations Department was set up in July,1985. With the active assistance of Tata Consultancy Service, bank also set up its computer department.A WIPRO computer was installed at our Head Office on July,1985 paving the way for computerisation of the Bank. Later , a PSI micro computer was installed at our International Banking Department at Cochin. The first Advanced Ledger Posting Machine(ALPM-a Wipro banker)was installed at Br.Aluva-Bank Junction branch.
1987:The long cherished dream of the Federal Family, the multi-storied adminstrative building complex was inaugurated by Shri A Ghosh, Dy.Governor,Reserve Bank of India .
1988:Shri M.P.K.Nair , a seasoned commercial banker trained in the Union Bank of India stable assumed the captaincy of the Bank on 1-7-1988 as its Chairman and Chief Executive Officer.
1989: commenced Merchant Banking Operations.
1992: Deposits crossed Rs.10,000 Million.Adopted profit sector banking as its slogan.
1993:Roped in ICICI group as a shareholder through private placement .
1994: Tapped the Capital Market with a public issue in March,1994. The issue oversubscribed by about 60 times.Started Leasing Business.
1995:Registered 142.44% increase in PAT in FY 94-95.Bank registered a GAGR of 78.13% in PAT during the period 1991-96. Emerged as a perfect banking partner with diverse products, global reach and focus on automation and HRM. Deposits cross Rs.35,000 Million.
1996:Shri K Nandan, a veteran banker from State Bank of India took the stewardship on 1-1-1996 .The bank had steady growth.The bank's business crossed Rs.100000 Million mark as on 31/3/98 for the first time.
1997 : Bank's first ATM was inaugurated at Eranakulam North on 27-02-97.
1999: On 1-1-1999, Shri K.P.Padmakumar, the Executive Director of the Bank took over the batton from Shri K Nandan.He thus became the first Chairman and Chief Executive Officer of the bank risen from the rank and file.
Bank's 400th branch was inaugurated at Calcutta- Shakespear Sarani on 19.2.1999. The total business of the bank exceeded Rs.110000 Million as on 31/3/99.
2000: On 24.1.2000 Bank started Any Where Banking (ABB) at Bangalore connecting all branches located in the Bangalore metro.
Launched Depository Services in association with NSDL on 24.2.2000.
The Bank has commenced Internet Banking 'FedNet' on 28th April 2000 with software support from Infosys Technologies Ltd.
Federal Millennium CD is released on 18.9.2000
2001: In March 2001, Wide Area Network was launched connecting Regional Offices at Mumbai, Bangalore, Chennai, Ernakulam and Chennai F & I with Head Office
2002 : All the 412 branches of the Bank were fully computerised (using FedSoft) as on 31.03.2002.
The Installation of switch for networking all the ATMs, already installed/proposed to be installed, started from 17/08/2002.
2002 : Dec 10 2002 Federal Bank introduces FedAlerts, and FedMobile , another first of its kind service among traditional banks in India. Real time transaction alerts across the globe, and customisable options make the service unique.
2 July 2004 : International Debit Cards launched.
Dec 2003 : Bank establishes a Call Centre attached to the Systems and Technology Department .
12 February 2004 : Co-branded credit cards launched in association with ICICI Bank.
7 January 2004 : Federal Bank becomes the first traditional bank to network all its branches and attain 100% connectivity.
October 2004 : RTGS is enabled in all branches of the Bank and becomes the first bank in India to implement RTGS facility in all the branches. Online Railway Reservation through FedNet launched. The First Kiosk inaugurated at the Marine Drive ( Kochi) branch.
February 2005 : Federal Bank is awarded for Best Use of Information Technology in Retail Banking by IBA and Infosys . The runner up status reveals the strength and innovation in technology initiatives.
June 2005: Federal Bank in association with AMRITA super speciality hospital launches Fed+Amrita, an innovative online system for fixing medical consultation, Health check up, and inpatinet payments from anywhere.
January 2006: Federal Bank becomes the first traditional bank to successfully issue GDR. While the issue of 18 million Global Depository Receipts realised $71.46 million, the green shoe option of 2 million GDR was also fully subscribed, bringing in a total of $80 million to the bank. The GDR, each representing an underlying equity share, were priced at $3.97 each — working out to approximately Rs 175 per share. The issue was subscribed by major banks and Financial Institutions across the globe.
Banking in India
Structure of the organised banking sector in India. Number of banks are in brackets.
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
Nationalisation
By the 1960s, the Indian banking industry had become an important tool to facilitate the development of the Indian economy. At the same time, it had emerged as a large employer, and a debate had ensued about the possibility to nationalise the banking industry. Indira Gandhi, the-thenPrime 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 Nationalisation." The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised 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 nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.
The nationalised banks were credited by some, including Home minister P. Chidambaram, to have helped the Indian economy withstand the global financial crisis of 2007-2009.
Liberalisation
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 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.
CHAPTER – IV
ANALYSIS AND INTERPRETATION
This chapter is allocated for analysis and interpretation of data. Preparing percentage analysis, two-way table and chi-squire test does the analysis of job satisfaction, which is directly extracted from the questionnaire. The variations in the extent of the consumer satisfaction can be measured with the variables such as job secured, promotional opportunity, relationship with management, and satisfaction factors of the respondents
Calculation of Satisfactory Scores
The Respondents were asked to state their level of Satisfaction relating to twenty factors. Based on their responses the Satisfaction score obtained by each respondent was found out. Points or scores were allocated based on the response. For each of the factor three levels of satisfaction were assigned namely high, medium and low. For high satisfaction three points were given, for Medium two and for low satisfaction one point was given.
The total scores secured by each respondent were thus arrived at. All the hundred respondents were classified based on their level of satisfaction. Those who have obtained up to 50 points were classified under low satisfaction category, Respondents with 51 – 70 points were classified under medium satisfaction category and those with more than 70 points were classified under high satisfaction category.
NUMBER OF RESPONDENTS AND LEVEL OF SATISFACTION
LEVEL OF SATISFACTION NO.OF RESPONDENTS
HIGH SATISFACTION 72
MEDIUM SATISFACTION 64
LOW SATISFACTION 14
TOTAL 150
TWO-WAY ANALYSIS:
The score secured by the respondents who falls between the score as up to 50 indicates less satisfaction of the respondents, from 51 – 70 are got average satisfaction and 71 – 90 respondents are highly satisfied.
SIMPLE PERCENTAGE TABLE - 1
AGE
AGE GROUP AND NO.OF RESPONDENTS
AGE NO.OF RESPONDENTS PERCENTAGE(%)
BELOW 30 33 22
31 TO 40 68 45
ABOVE 40 49 33
TOTAL 150 100
Age is an important factor that has an influence of job satisfaction. Hence according to age levels the respondents are classified into three factors.
INTERPRETATION:
Majority of the respondents (45%) are in 21 to 30 years age group and 33% of the respondents are above 30 years age group and 22% of the respondents are below 20 years age group.
SIMPLE PERCENTAGE TABLE – 2
GENDER
There is as yet no consistent evidence as to whether women are more
satisfied with their job than men, bolding such factors as job and
occupational level constant. One might predict this to be the case. Considering the generally lower occupational aspiration of women.
GENDER NO.OF RESPONDENTS PERCENTAGE(%)
MALE 123 82
FEMALE 27 18
TOTAL 150 100
GENDER AND NO.OF RESPONDENTS
INTERPRETATION:
Majority of the respondents (82%) are male and 18% of the respondents are female.
SIMPLE PERCENTAGE TABLE – 3
EDUCATION
Education qualification of the respondents may affect the preception of job satisfaction. Highly educated may expect much better work life then others. According to educational qualification the respondents are classified into four categories as under.
EDUCATION AND NUMBER OF RESPONDENTS
EDUCATIONAL STATUS NO.OF RESPONDENTS PERCENTAGE(%)
SCHOOL LEVEL 7 5
GRADUATE 101 67
POST GRADUATE 42 28
TOTAL 150 100
INTERPRETATION:
Majority of the respondents (67%) are graduate level and 28% of the respondents are post graduate and 5% of the respondents are school level.
SIMPLE PERCENTAGE TABLE - 4
MARITAL STATUS
The marital status may influence the job satisfaction as a personal factor. Because the married people has some unavoidable responsibility.
MARITAL STATUS AND NUMBER OF RESPONDENTS
MARITAL STATUS NO.OF RESPONDENTS PERCENTAGE(%)
MARRIED 94 63
UNMARRIED 56 37
TOTAL 150 100
INTERPRETATION:
Majority of the respondents (63%) are married and 37% of the respondents are unmarried.
SIMPLE PERCENTAGE TABLE – 5
MONTHLY SALARY
Man work to earn every employee in the organisation will expect a corret pay to be paid for the job done by him. The reasonable pay for each job which is performed in theorganisation. This scale of pay may help for the job satisfaction to a greater extent.
SALARY PER MONTH NO.OF RESPONDENTS PERCENTAGE(%)
BELOW 8000 55 37
Rs 8001 TO Rs12500 23 15
Rs 12501 TO 20000 51 34
ABOVE 20000 21 14
TOTAL 150 100
MONTHLY SALARY AND NUMBER OF RESPONDENTS
INTERPRETATION:
Majority of the respondents (37%) are BELOW Rs.8,000 and 15% of the respondents are 8,001 – 12,500 and 34% of the respondents are 12,501 – 20,000 and the remaining 14% of respondents are ABOVE 20,000.
TWO WAY TABLE - 1
Relationship Between Age And Level Of Satisfaction
AGE LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
YOUNG AGE 12(36%) 17(52%) 4(12%) 33
MIDDLE AGE 34(50%) 29(57%) 5(7%) 69
OLD AGE 26(53%) 18(37%) 5(10%) 49
TOTAL 72 64 14 150
INFERENCE:
The above table reveals that the percentage of highly satisfied is in the old age group (53%) and 50% of highly satisfied in the middle age group and followed by young age group. And in medium satisfaction 57% of highest percentage in middle age group and followed by young age group with 52% of satisfaction. The highest percentage of 12% in low satisfaction is in old age group.
TWO WAY TABLE -2
Relationship Between Gender And Level Of Satisfaction
GENDER LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
MALE 63(51%) 50(41%) 10(8%) 123
FEMALE 9(33%) 14(52%) 4(15%) 27
TOTAL 72 64 14 150
INFERENCE:
From the above table the percentage of highly satisfied is in male group followed by the female group. The percentage of medium satisfied is highest in female group.
TWO WAY TABLE -3
Relationship Between Educational Status And Level Of Satisfaction
GENDER LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
SCHOOL LEVEL 1(14%) 5(72%) 1(14%) 7
GRADUATE 51(50%) 41(41%) 9(9%) 101
POST GRADUATE 20(48%) 18(43%) 4(9%) 42
TOTAL 72 64 14 150
INFERENCE:
From the above table the percentage of highly satisfied is more among the respondents of graduate level group and followed by the school group. The percentage of medium satisfied is highest among the respondents of post graduate group.
TWO WAY TABLE -4
Relationship Between Marital Status And Level Of Satisfaction
MARITAL STATUS LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
MARRIED 40(63%) 15(23%) 9(14%) 64
UNMARRIED 32(37%) 49(57%) 5(6%) 68
TOTAL 72 64 14 150
INFERENCE:
The above table reveals that the percentage of highly satisfied is in unmarried group followed by married group. And in medium satisfaction highest percentage is in married group and followed by unmarried group.
TWO WAY TABLE -5
Relationship Between Monthly Salary And Level Of Satisfaction
MONTHLY SALARY LEVEL OF SATISFACTION TOTAL
HIGHLY SATISFACTION MEDIUM SATISFACTION LOW SATISFACTION
BELOW 8000 30(55%) 19(35%) 6(10%) 55
8001 TO 12500 7(30%) 14(61%) 2(9%) 23
12501 TO 20000 25(49%) 22(43%) 4(8%) 51
ABOVE 20000 10(48%) 9(42%) 2(10%) 21
TOTAL
INFERENCE:
From the above table the percentage of highly satisfied respondents is more in the group below Rs.8,000. It was followed by the groups Rs.12,501 – Rs.20,000. In medium satisfaction the highest percentage is in Rs.12,501 – Rs.20,000 group.
CHI-SQUARE TEST:
Chi-square test is applied to test the goodness of fit, to verify the distribution of observed data with assumed theoretical distribution. Therefore it is a measure to study the divergence of actual and expected frequencies; Karl Pearson’s has developed a method to test the difference between the theoretical (hypothesis) & the observed value.
Chi – square test (X2) = (O – E)2 / E
Degrees Of Freedom = V = (R – 1) (C -1)
Were,
‘O’ = Observed Frequency
‘E’ = Expected Frequency
‘R’ = Number of Rows
‘C’ = Number of Columns
For all the chi-square test the table value has taken @ 5% level of significance.
CHI– SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE AGE AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between age and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
12 15.48 -3.84 14.75 0.93
34 32.64 1.36 1.85 0.06
26 23.52 2.48 6.15 0.26
17 14.08 2.92 8.53 0.61
29 29.01 -0.01 0.00 0.00
18 20.91 -2.91 8.45 0.40
4 3.08 0.92 0.85 0.27
5 6.35 -1.35 1.81 0.29
5 4.57 0.43 0.18 0.04
2.86
Degree of freedom - 4
Table value - 9.49
Calculated value - 2.86
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between age and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE GENDER AND LEVEL OF
SATISFACTION
Hypothesis:
HO: There is no significant relationship between gender and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
63 59.04 3.96 15.68 0.27
9 12.96 -3.96 15.68 1.21
50 52.48 -2.48 6.15 0.12
14 11.52 2.48 6.15 0.53
10 11.48 -1.48 2.19 0.19
4 2.52 1.48 2.19 0.87
TOTAL 3.19
Degree of freedom - 2
Table value - 3.19
Calculated value - 5.99
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between gender and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE EDUCATIONAL QUALIFICATION AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between educational qualification and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
51 48.48 2.52 6.35 0.13
20 20.16 -0.16 0.03 0.00
1 3.36 -2.36 5.57 1.66
41 43.09 -2.09 4.38 0.10
18 17.92 0.08 0.01 0.00
5 2.99 2.01 4.05 1.36
9 9.43 -0.43 0.18 0.02
4 3.92 0.08 0.01 0.00
1 0.65 0.35 0.12 0.18
3.45
Degree of freedom - 4
Table value - 3.45
Calculated value - 9.49
INFERENCE:
Since the calculated value is less than the table value. The Null hypothesis is accepted. Hence, there is no significant relationship between educational qualification and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE MARITAL STATUS AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between marital status and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
40 30.72 9.28 86.12 2.80
32 41.28 -9.28 86.12 2.09
15 27.31 -12.31 151.45 5.55
49 36.69 12.31 151.45 4.13
9 5.97 3.03 9.16 1.53
5 8.03 -3.03 9.16 1.14
TOTAL 17.24
Degree of freedom - 2
Table value - 17.24
Calculated value - 5.99
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is not accepted. Hence, there is significant relationship between marital status and level of satisfaction.
CHI – SQUARE TEST IS CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE MONTHLY INCOME AND LEVEL OF SATISFACTION
Hypothesis:
HO: There is no significant relationship between monthly income and level of satisfaction.
O E O-E (O-E)^2 (O-E)^2/
E
10 10.08 -0.08 0.01 0.00
7 11.04 -4.04 16.32 1.48
25 24.48 0.52 0.27 0.01
30 26.40 3.60 12.96 0.49
9 8.96 0.04 0.00 0.00
14 9.81 4.19 17.53 1.79
22 21.76 0.24 0.06 0.00
19 23.47 -4.47 19.95 0.85
2 1.96 0.04 0.00 0.00
2 2.15 -0.15 0.02 0.01
4 4.76 -0.76 0.58 0.12
6 5.13 0.87 0.75 0.15
TOTAL 4.75
Degree of freedom - 6
Table value - 4.75
Calculated value - 12.59
INFERENCE:
Since the calculated value is less than the table value. So the Null hypothesis is accepted. Hence, there is no significant relationship between monthly income and level of satisfaction.
CORRELATION:
Correlation is the method for measuring the magnitude of linear relationship between the two variables. It is most widely used method in practice and it is known as Karl Pearson’s coefficient of correlation. It is denoted by ‘r’.
CORRELATION TEST CONDUCTED TO EXTENT THE RELATIONSHIP BETWEEN THE AGE AND SATISFACTION LEVEL
SCORE 31-50 51-70 71-90 f u fu fu^2 fuv
AGE
10-20 12 17 4 33 -1 -33 33 8
20-30 34 29 5 68 0 0 0 0
30-40 26 18 5 49 1 49 49 -21
f 72 64 14 150 0 16 82 -13
v -1 0 1 0
fv -72 0 14 -58
fv^2 72 0 14 86
FORMULA:
Result: r -1022 = -0.09536
= 10716.88
INFERENCE:
The correlation shows the negative result, so there is no relationship between the age and satisfaction level.
CHAPTER V
FINDINGS, SUGGESTIONS AND CONCLUSION
FINDINGS
Age:
• The percentage table reveals that the majority of the respondents are belongs to the group 31 years to 40 years of age.
• The two-way table shows that the high satisfaction is derived by the middle age group.
• Chi-squire test indicates that there is no significant relationship between the age and level of satisfaction.
• The correlation is also shows that there is no relationship between the age and satisfaction level.
Gender:
• From the percentage table the majority of the respondents are from the male group.
• The two-way table says that the high level of satisfaction is obtained by the male group.
• Chi-squire test reveals that there is no relationship between the gender and the level of satisfaction.
Educational qualification:
• From the percentage table the majority of the respondents are in graduate level educated group.
• The two-way table showing the high level of satisfaction is derived by the graduate level group respondents.
• The chi-squire test indicates that there is no significant relationship between the educational qualification and the level of satisfaction.
Marital status :
• The percentage table shows that the majority of the respondents are married.
• The two-way table showing the high satisfaction is derived by the unmarried group.
• The chi-squire test indicates that there is a significant relationship between the marital status and the level of satisfaction.
Monthly income:
• The percentage table indicates that the majority of the respondents are in below Rs: 8000 salary group.
• The two-way table tells us the high satisfaction is derived by the respondents who are in below Rs.8,000 group.
• Chi-squire test reveals that there is no significant relationship between the monthly income and the level of satisfaction.
• The correlation shows that there no relationship between the monthly income and the level of satisfaction.
SUGGESTIONS:
• The bank should increase the present scale of pay to staff.
• The bank should formulate it’s working time. It may introduce shift working pattern to ensure for bank working hours.
• The bank should reduce the autocratic management style.
• The bank should implement the grievance handling system.
• The bank should improve the canteen facilities.
• The bank may provide loans and advances to it’s workers.
• It may provide common mass transit facilities to ensure proper and full usage of its working hours .
CONCLUSION
The study on employee’s satisfaction at Federal bank is cased out with full co-operation of the employees and management. As far as possible with in the given limits the study is completed with the satisfaction of many peoples. The data collected are analyzed scientifically and the results obtained are free to nearly 80%. It is assured that the bank may got high boosted moral in the organization provided some of the suggestions made in the report in carried out.